Daily Cryptocurrency Bulletin For Wednesday, July 24, 2019
July 24, 2019 1:38 pm
General News
BitFlyer has partnered with Japanese business giant Sumitomo Corporation to develop a “one-stop shop” mobile app – allowing users to search for properties, make bookings, sign contracts, payment different expenses and provide contract renewal and exiting procedures – all using smart contracts on a blockchain to improve rental efficiency and lower costs.
Coinbene and Mastercard have announced a co-branded card integrated “100% of cryptocurrencies.” The card can be used for any activity including cash withdrawals, cashback, payment of bills, cash transfers and even integration with WeChat.
Facebook’s Libra project has still not responded to a request from the Swiss Federal Data Protection and Information Commissioner (FDPIC) for more information, despite being set up in Geneva. Meanwhile, the Senate Banking Committee will hold a further hearing on regulatory frameworks for cryptocurrencies and blockchain next week.
Genesis Global Trading’s crypto-related lending business remains on a growth tear – especially its loans of U.S. dollars and blockchain substitutes. Genesis originated $746 million in loans in Q2, up 75 percent and a new record for the company. “Cash” lending more than doubled, now accounting for 23.5 percent of outstanding loans. The bull market has led to institutions pledging their Bitcoin as collateral to borrow cash to buy more Bitcoin.
The New York Times has revealed how they plan to use Hyperledger Fabric’s blockchain to authenticate news photographs in partnership with IBM Garage accelerator program.
UnionBank has successfully completed a pilot of a blockchain-based cross-border remittance using tokenised fiat from the Philippines to Singapore in partnership with Singapore-based OCBC Bank. The bank aims to provide unbanked Filipinos with the ability to use financial services by connecting rural banks to the country’s main financial network.
Cryptocurrencies
Bitcoin $9,661.17 USD (-3.36 percent) futurestrading for professionals is now available at the largest US brokerage, TD Ameritrade. Despite this, BTC continues to sink lower below the $10,000 handle, with $9,064 – July 17th low – now the next key support.
Civic $0.050126 USD (-1.56 percent) Technologies, the decentralized identity startup, announced a partnership with BitGo to build a crypto wallet that maintains anonymity while offering a back-up solution. Civic Wallet was designed alongside Civic Identity, Identity.com, and Civic Pay to operate with BitGo’s multisig solution. BitGo primarily deals in enterprise clients, however, “Civic found a way to leverage the multisig commodity to work at the consumer level,” said Ben Chan, CTO of BitGo.
WePower $0.006990 USD (-1.65 percent) is being backed by major Japanese general trading company, Marubeni Corp. according to Reuters. Marubeni has issued a loan to Lithuania-based blockchain project, with the size of Marubeni’s stake in WePower after converting the loan yet to be determined. WePower has developed a platform which allows small and medium-sized enterprises to more easily buy power from wind and solar-based sources via standardized digital power purchase agreements.
– WN.com, Jamie Saarloos
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