Please share if you find this article interesting. Australia’s Prime Minister Ordered Blockchain Research Push, Gov’t Agency Says Australia’s $530,000 blockchain research push this year came as a result of a specific request by Prime Minister Malcolm Turnbull, reports reveal Tuesday, May 22. According to local news outlet ITNews, which quotes government officials, Turnbull had explicitly asked the country’s Digital Transformation Agency (DTA) – a body tasked with bringing government services into the digital age – to study blockchain. “The Prime Minister in fact wrote to our minister [assistant minister for digital transformation Michael Keenan] and asked us to have a look at blockchain, which evolved into this particular piece of work,” DTA chief digital officer Peter Alexander
Please share if you find this article interesting. Mitsubishi, MUFG Conduct Successful Pilot Payment With Major Thai Bank’s Blockchain Several major global banks have successfully completed a cross-border payment pilot test using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger, according to a press release May 22. The pilot, conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was executed by Japan’s Mitsubishi Group, their banking unit MUFG Bank, and the Standard Chartered Singapore bank. The test involved sending money in a period of seconds from a Thailand-based Mitsubishi Group subsidiary to the Standard Chartered account of a Singapore-based Mitsubishi Group Subsidiary, using Kungsri’s Interledger tech. Thakorn Piyapan, head of the Krungsri Consumer Gr
Please share if you find this article interesting. Bitcoin Pizza Day 2018: Community Celebrates a Takeout Order Now Worth $82 mln Bitcoin (BTC) users around the world are celebrating the eighth so-called “Bitcoin Pizza Day” today, May 22. With BTC prices circling $8,200, the price of one of the legendary pizzas purchased on this day in 2010 is now worth $41.4 mln. Traditionally accompanied by various social media events, giveaways from cryptocurrency businesses and a considerable amount of pizza-eating, Bitcoin Pizza Day remembers May 22, 2010 – the first time a Bitcoin user purchased pizza with the cryptocurrency. On that date, Bitcoin traded at around $0.004, making the two pizzas Laszlo Hanyecz ordered from Papa John’s for 10,000 BTC cost $41. A ceremonial occurrence in Bitcoi
Please share if you find this article interesting. Exec of $5.1 Trln Investment Firm Makes Tired Comparison of Crypto to Tulips The global chief economist of a major investment firm has criticized cryptocurrencies in an op-ed on investment fund news site ETF.com published yesterday, May 21. Joe Davis, the global chief economist and global head of Vanguard Investment Strategy Group, stated that while blockchain technology shows promise, the rise of cryptocurrencies can be compared to the Netherlands’ 17th century “tulip mania,” a classic example of a bubble market. Davis, whose firm manages a reported $5.1 trillion in assets globally as of this January, began the piece by remarking on his enthusiasm for blockchain technology – which he notes Vanguard uses – but adds that: “As for
Please share if you find this article interesting. He Paid How Much? CoinDesk Releases 'Bitcoin Pizza Day' Price Tracker Eight years ago today, the first reported exchange of bitcoin for a consumer product - a pair of Papa John's pizzas - took place. At a total cost of 10,000 bitcoins, it was a milestone for the adoption of cryptocurrency and one that has since been commemorated though the celebration of May 22 as "Bitcoin Pizza Day." Yet even the most cursory observation of Bitcoin Pizza Day isn't complete without a calculation of precisely how much, in dollar terms, those two pizzas cost. With that, CoinDesk is today releasing a new widget that provides a real-time calculation that you can add to any website. As of press time, that's about $83.7 million for the two pies, or j...
Please share if you find this article interesting. From the Internet to Crypto - How the World’s Richest Have Sized Things Up Throughout history, the thoughts and perceptions of the masses have been shaped by leaders of politics, industry and entertainment. The greatest minds of our time have often predicted and touted some of the most prolific innovations. Lended the support of these voices, these very innovations have shaped the way the world works. Internet A prime example would be the Internet. The technology revolutionized communication in the 1990s and led to a surge in investments in Internet-based companies. What followed is now known as the dotcom bubble - a rapid rise in equity born out of speculative investing in these dotcom companies eventually led to a stock market
Please share if you find this article interesting. Failed Bull Breakout Leaves Bitcoin Eyeing Drop to $8K Bitcoin's failed bull move on Sunday has left the doors open for the bears to make a comeback. The inverse head-and-shoulders breakout on May 20 signaled a short-term bullish reversal that could have seen bitcoin rise to $9,000 (target as per the measured height method). However, the bulls ran out of steam at a high of $8,644 yesterday and prices had fallen back to $8,240 at time of writing - a drop of 2.8 percent over the last 24 hours, according to Bitfinex. The decline did not come as a surprise, though, given the breakout lacked volume support, and a drop to $8,000 could now be on the cards. 1-hour chart As seen in the chart above, BTC fell back below the inverse head
Please share if you find this article interesting. U.S. CFTC Seeks to ‘Provide Regulatory Clarity’ for Listing Virtual Currency Derivatives The U.S. Commodity Futures Trading Commission (CFTC) has issued an advisory statement for listing virtual currency derivative products, according to a CFTC press release published yesterday, May 21. The advisory statement is aimed at providing clarity for exchanges and clearing houses. The staff advisory, which was jointly issued by the CFTC’s Division of Market Oversight (DMO) and Division of Clearing and Risk (DCR), focuses on the specific areas involved in listing virtual currency derivatives on a designated contract market or swap execution facility. It covers the necessity for more market surveillance, coordination with CFTC staff, large
Please share if you find this article interesting. Blockchain-Driven AI Platform Vows to Solve $500 Billion Issue for the Retail Industry A platform is combining “cutting edge” artificial intelligence (AI) with the “immutable reliability” of blockchain to create a system where retailers and manufacturers can predict whether they are overstocking or understocking products – an issue estimated to cost the industry $500 bln a year. OSA DC, which stands for Optimal Shelf Availability Decentralized, says its system allows major brands and smaller chains to track product stock, inventories and orders with “pinpoint accuracy.” Shoppers also stand to gain from the platform, as its digital assistant would provide reliable information on a product’s origin, ingredients, traceability, and p
Please share if you find this article interesting. Bitcoin Price Watch: Can BTC/USD Hold 100 SMA? Key PointsBitcoin price formed a short-term top near $8,600 and started a downside move against the US Dollar.There was a break below a key bullish trend line with support at $8,370 on the hourly chart of the BTC/USD pair (data feed from Kraken).The pair must hold the $8,240 support and the 100 hourly simple moving average to avoid more losses.Bitcoin price is trading above a major support at $8,240 against the US Dollar. BTC/USD should stay above the 100 hourly SMA to trim recent losses.Bitcoin Price AnalysisAfter trading towards the $8,600 level, bitcoin price faced a selling interest against the US Dollar. The BTC/USD pair formed a short-term top at $8,596 and started a downside m...