Showing posts with label News. Show all posts
Showing posts with label News. Show all posts

Thursday, March 7, 2019

Swiss Stock Exchange SIX to Use R3 Corda Enterprise for Blockchain-Based Trading Platform

Switzerland's principal stock market, SIX Swiss Exchange, has chosen to use blockchain pool R3’s Corda Enterprise platform for its forthcoming blockchain-powered digital exchange. The news was discovered throughout the R3-hosted Corda Day event in Singapore on March half dozen.

The SIX Swiss Exchange sees roughly four.62 billion Swiss Francs (CHF) (~$4.6 billion) in daily turnover, and incorporates a capitalisation of over one.67 trillion CHF ~($1.6 trillion). As Cointelegraph according in July 2018, SIX antecedently disclosed its plans to launch a digital plus system, dubbed Six Digital Exchange (SDX).

In Feb 2019, the corporate declared it'd be testing blockchain integration for SDX, and would use the technology to tokenize stocks, bonds and probably exchange-traded funds (ETFs).

At the time, SIX exchange chairman Romeo Lacher aforesaid he expects the new blockchain-powered SDX digital exchange to come after SIX’s existing marketplace among a decade, and conjointly discovered that the corporate plans to roll out its own security token giving.

Corda Enterprise is that the paid-for offset of R3’s open supply Corda blockchain platform, and may be used across applications that embody capital markets infrastructure, trade finance, identity, insurance, and alternative money service or business applications.

Adoption by a serious money market infrastructure supplier like SIX represents a primary for Corda Enterprise, that saw its 1st business licensing deal in January 2019 with Dutch international bank ING. ING had notably put together completed the primary live dealings in securities exploitation R3’s open supply Corda back in March 2018.

As Cointelegraph has according, in parallel to its in progress SDX development, SIX listed a complicated multi-crypto-based exchange-traded product (ETP) in fall 2018, that tracks 5 major cryptocurrencies. Earlier in the week, the exchange’s Ethereum (ETH)-based ETP conjointly began trading.

Sunday, March 26, 2017

WEEKLY ANALYSIS: THE TRUMP SAGA CONTINUES, SO DOES ETHEREUM’S SURGE

AssetCurrent ValueWeekly Change
S&P 5002344-1.44%
DAX12064-0.55%
WTI Crude Oil48.10-1.39%
GOLD1243.501.07%
Bitcoin926-13.57%
EUR/USD1.07980.56%


5 THINGS TO WATCH NEXT WEEK

  1. The Dollar: Will the weakness continue?
The US Dollar has been in trouble since the recent Federal Reserve meeting, despite the fact that the central bank raised its benchmark interest rate. The rate hike, in theory, should help the currency, but this time, the bank’s cautious outlook, together with the preceding rally in the Dollar, the reaction was the exact opposite. A classic “buy the rumor sell the news” situation.
As the Dollar has been pushing higher against most of the major currencies since the election, there is still more room for correction in the reserve currency.
EUR/USD, Daily Chart Analysis
  1. The US GDP print and the CB consumer confidence Index: The Fed is watching
Arguably the two most important economic releases of the week could have profound effects on financial markets following the latest Fed meeting, as the rate hike schedule of the bank remains a mystery.
  1. Ethereum: New highs ahead?
Ethereum has been the star of the recent period, as it kept on delivering new highs on almost a daily basis. Although the cryptocurrency might be getting overheated, the next week could hold more fireworks for traders. The recent break-out that we correctly anticipated carried Ethereum above the resistance zone that held the currency back all week.
Ethereum on the rise, Daily Chart
  1. Oil: An industry in turmoil
Oil producing countries and companies are spooked once again by the movements of crude oil, as a 3-month long consolidation concluded with a bearish break-down two weeks ago. As US shale production is on the rise and the OPEC, especially Saudi Arabia, is cornered by the new market pressures, it’s likely that oil will experience violent moves in the coming days.
  1. Trump: Will there be a healthcare deal?
The media covered the Republican Party’s debate regarding a new healthcare bill that supposed to replace “Obamacare”. The new president was forced to retreat at the end of the week, pulling the bill ahead of a risky vote. It’s hard to imagine that Mr. Trump will not try to reach a deal again in the near future. We expect continued focus on the story, although the real impact of the bill on financial markets is questionable.
In Focus: Cryptocurrencies
 

The performance of the main cryptocurrencies in March
March has been a very active month for cryptocurrencies so far, and while Bitcoin had a highly volatile and mixed period, some of the other majors gained significant ground. Ethereum and Dash surged higher more or less in tandem, bagging close to 200% in just three weeks. Monero is also on the rise with a commendable 60% gain.
The recent week was Ethereum’s without a doubt, as Dash and Monero remained below their previous highs and Bitcoin plunged back below 1000 on Friday. Litecoin has been the most stable of the major cryptocurrrencies, although the 8% gain could be interpreted as a positive sign, given the weak performance of Bitcoin.
Monthly trading volumes reflect the price action, as Ethereum has experienced a huge jump in interest and Dash also so significant inflows.
CurrencyWeekly VolumeMonthly Volume
Bitcoin21169325
Ethereum9293796
Dash181919
Monero69319
Litecoin36180

Key Economic Releases of the Week
DayCountryReleaseExpectedPrevious
MondayEUROZONEGerman Ifo Business Climate111.2111
TuesdayUSCB Consumer Confidence113.9114.8
WednesdayUSPending Home Sales (monthly)2.30%-2.80%
WednesdayUSCrude Oil Inventories 5.0 million
ThursdayGERMANYPrelim CPI0.40%0.60%
ThursdayUSFinal GDP2.00%1.90%
ThursdayUSInitial Jobless Claims (weekly)244,000261,000
FridayGERMANYRetail Sales0.70%-0.80%
FridayUKCurrent Account-16.3 bil-25.5 bil
FridayUKFinal GDP (quarterly)0.70%0.70%
FridayCANADAGDP (monthly)0.30%0.30%
FridayUSChicago PMI57.257.4
From : Hacked.com 

Humanitarian Blockchain and its Liberating Technologies for Refugees

Last October, dozens of refugees remained stranded in Calais after authorities announced the closure of Calais’ ‘Jungle’. In a report from the Guardian, over 1,000 refugees remained, including more than 100 children, with many facing the prospect of having nowhere safe to sleep.
Yet, with French and U.K. officials accusing each other of not doing more to sort the situation out, the ‘Jungle’ became a poignant representation of Europe’s failure to tackle the migrant crisis.

Humanitarian Blockchain

One organization is stepping forward with blockchain ideas and solutions designed to address some of the barriers that they perceive to be standing in the way of social, political, and economic freedom, not only for refugees but for other disenfranchised populations.
Launched in February 2016 by founder and CEO Julio Alejandro, London-based Humanitarian Blockchain is the world’s first DIY e-governance consultancy project that is attempting to tackle social and global problems using blockchain technology.
Speaking to CCN, Alejandro, a U.S. and U.K. foreign correspondent for Mexican-based newspaper, Excélsior, said:
[Our goal is to] provide financial, communicational, and organizational independence to refugees and the organizations that help them with decentralized, accessible, and non-jurisdictional blockchain technologies.
The organization is attempting to achieve this goal through its four liberating technologies: bitcoin Visa debit cards, Estonia e-residences for high-skilled immigrants, a DAO model for HR NGOs, and non-biometric, reputation-based, digital identities.
Out of the 30 blockchain-for-good use cases Humanitarian Blockchain has mapped, they have identified 30 organizations, mainly startups, that use a combination of these technologies. Furthermore, Alejandro states that costs are reduced by not developing in-house solutions, but by outsourcing actualizations and improvements with cheap implementation.
The cost of the e-residences and a bitcoin Visa debit card is €120 while the cost of implementing a DAO no-managers model and automated Smart Contracts for a small HR NGO is €1,000. Humanitarian Blockchain is planning on using BitNation’s Pangea identity system, which is free, once it’s ready this year.
In consultation with organizations and governments within Europe, Alejandro is examining and promoting the benefits of blockchain technology, analyzing the local ecosystem, and looking at its needs and opportunities for future development.
Last September and October, Students for Liberty asked Alejandro to give lectures and talks in ten countries. In November, he debated on anonymity, untraceability, and decentralization for the European Commission legislation body in Prague before taking his discussion to Tel Aviv and Beirut at the beginning of the year.
By focusing on people that they’ve identified as oppressed, Humanitarian Blockchain aims to serve as contractors and consultants, teaching and implementing pilot projects for social good in complex ecosystems; to match blockchain developers, who might be living in London or New York, with organizations that request their help; and to participate in social competitions that promote humanitarian, social, and political uses of blockchain technology.

Social Experiment

Even though the Calais camp disappeared last October, back in June, Mexican-born Alejandro undertook a social experiment pilot when he went to Calais.
At the end, there were two things that he noticed.
Firstly, posing as a Syrian refugee living in The Jungle, Alejandro found it difficult to pay in a coffee shop with a bitcoin debit card. He said that the issue of having no fixed addressed or job meant that merchants were more likely to ask questions, suspicious of where a refugee may have received the card and how money was put on it for a refugee to use.
He said:
As a brown, heavily bearded, Muslim-looking male, I was denied service and was asked to leave [places of business].
Secondly, they discovered that the inhabitants of the Jungle were often African and Asian economic immigrants hoping to remain anonymous and underground, rather than the highly-publicized refugees from Syria.
He added:
With limited capacities to teach or implement this project in mass scale we decided to re-adapt our strategy into a smaller group: young, anonymous immigrants with risk of radicalization.
As such, the organization identified three types of people that it is aiming to help: political dissidents, victimless crimes, and rehabilitating those who have committed serious crimes, but can’t reinsert into society or the job market, forcing them underground or being radicalized into violent activities.
Alejandro believes that digital identities will help oppressed communities regain their dignity. As they won’t be government sanctioned, he says that reputation-based identities will eliminate violence in case of wrong doing.
He states:
In a post-nation world, if you commit a crime you would get your reputation downgraded. ID and reputation systems are the preventive method towards crime and punitive behavior.
He concludes by adding, that with the use of digital identities, businesses, audiences and stores can ban or limit access for a person into a place, instead of having them sent to prison.
Featured image from Shutterstock.

Bats Exchange to Formally Object SEC Rejection of Winklevoss Bitcoin ETF

The Bats Exchange has objected to the Securities and Exchange Commission’s (SEC) rejection of the first bitcoin exchange-traded fund (ETF), which would have seen the exchange list it to track the price of bitcoin.
On March 10, the SEC rejected the Winklevoss bitcoin ETF because the online exchanges that the digital currency trades on are not regulated and are vulnerable to fraud. Even though the Winklevoss twins are reported as being hopeful that the commission will come around to working with them on bringing an ETF to market, many may have thought the case was closed.
However, according to a letter posted on the SEC’s website, the Bats BZX Exchange, operated by CBOE Holdings Inc., plans on appealing the SEC’s decision to turn down the ETF.
The letter, which was received on 20 March, states:
Bats BZX Exchange, Inc. submits this letter, pursuant to Rule 430(b)(1) of the Securities and Exchange Commission’s Rules of Practice, as written notice of Bats’ intent to petitions for review of the Order Disapproving a Proposed Rule Change, as Modified by Amendments No. 1 and 2, to BZX Rule 14.11(e)(4), Commodity-Based Trust Shares, to List and Trade Shares Issued by the Winklevoss Bitcoin Trust; Exchange Act Release No. 80206, File No. SR-BatsBZX-2016-30.
Cameron and Tyler Winklevoss and their Winklevoss Bitcoin Trust initially applied for approval of the ETF nearly four years ago. For years, the two have been attempting to bring bitcoin to the mainstream and the failure of getting the first ETF approved is a major blow to their cause.
In the run-up to the SEC’s decision, the price of bitcoin soared to $1,350. After the SEC’s rejection, the price crashed below $1,000 before jumping back up to $1,100.

Appeal Holds No Guarantees

Even though Bats will appeal the decision, this doesn’t guarantee that the SEC will change its decision now or anytime in the future.
With bitcoin’s price fluctuating so wildly, knowing how to predict what the currency is going to do is proving difficult while investors tend to send the price down when they panic sell.
This is compared to fiat currency, which tends to change its value slowly over time and, in what is considered, a predictable fashion.
And yet, if the ETF does receive approval at some stage, it would provide more credibility to bitcoin particularly to those on Wall Street, thus helping to take away some of the mystery around the currency.
Featured image from Shutterstock.