Please share if you find this article interesting. Cryptocurrency Loans Company Genesis Processes $550 Million in First Six Months Institutional cryptocurrency over-the-counter (OTC) broker Genesis Global Trading revealed its loans spin-off processed over half a billion dollars in its first six months in a new report Thursday, Oct. 18. Genesis, which began its digital asset lending activities in March, revealed its current order book consists of $130 million in outstanding loans, a figure which has “steadily grown” since inception, it says. Total cash flow reached $553 million for all supported assets. “Over the past year, through client feedback and the rise of derivative marketplaces, we saw a meaningful increase in the number of market participants wanting to borrow and/or len
Please share if you find this article interesting. Cobo Raises $13M in Series A Funding Round - Bitcoin News Wallets Chinese startup Cobo raised $13 million this week in a Series A financing round led by DHVC and Wu Capital. The Beijing-based company — established by Bihang wallet developer Changhao Jiang and Shixing “Discus Fish” Mao, the co-founder of F2Pool — said it will use the funds to support the international expansion of its two wallet offerings. Also Read: Civil Fails to Raise $8M Minimum in ICO Global Expansion Cobo has developed two main products: a multi-asset software wallet and a “military-grade” hardware wallet. The new funding round brings total investment in the company to $20 million to date. Cobo plans to expand in the U.S. and several Southeast Asia mark
Please share if you find this article interesting. Accenture Works With Thailand’s Oldest Bank to Release Blockchain Supply Chain Tool Global management consultancy firm Accenture announced it had partnered with a subsidiary of Thailand’s oldest bank on a new blockchain tool aimed at supply chains in a press release Wednesday, Oct. 17. In the latest implementation of the technology for Accenture, the company partnered with Siam Commercial Bank’s fintech subsidiary Digital Ventures Co. Ltd on the blockchain solution, which has already gone live with its first clients. Known as Procure-to-Pay or B2P, it leverages R3’s Corda technology as its basis, the release confirms. Divyesh Vithlani, head of Accenture’s Financial Services practice in the ASEAN region commented: “The most excit
Please share if you find this article interesting. US Marshals Put Up More Than 600 Confiscated Bitcoins at Auction A federal law enforcement agency within the U.S. Department of Justice has recently announced a bid auction for approximately 660 confiscated Bitcoins (BTC), the U.S. Marshals Service (USMS) reports Thursday, Oct.18. The bid, held by the USMS, will take place on Nov. 5, but the participants have to register themselves no later than Oct. 31 and deposit $200,000 in order to take part. The auction is divided in two parts: the first is made up of six sets of 100 BTC, and the second with 60 BTC. Once a bid is set, the participants won't be able to change it or to view other bids. The agency states that Bitcoins for the bid were seized in various federal criminal, civil, ...
Please share if you find this article interesting. Blockchain E-Commerce Platform Allows Shoppers to Purchase Directly From Manufacturers A new decentralized e-commerce platform aims to allow online shoppers and e-commerce stores to combine purchasing power and microdistribution to access bulk pricing and discounts. Buying.com says that they have multiple solutions to the many issues faced by customers, describing themselves as ‘e-commerce reinvented’. According to the company, the four key elements of their project are MicroDistribution, purchasing power, storefront creation, and fragmentation. MicroDistribution are channels powered by decentralized networks and distribution ledgers. Purchasing power, means manipulating wholesale pricing advantages by offering customers ‘direct
Please share if you find this article interesting. Toronto-Based Clothing Charity Relies Solely on Bitcoin Cash - Bitcoin News Sharing economy Last February, a bitcoin cash-centric charity based out of Canada had announced the launch of an organization called Coins 4 Clothes. The group started accepting BCH to purchase clothing from wholesalers and then distributed the garments to various Toronto-based charities. Since then the organization has donated over 3,000 articles of clothing to those in need, while at the same time helping people learn about the benefits of a peer-to-peer electronic cash system. Also read: Blockchain Surveillance Firm Partners With Cryptocurrency Exchange Binance Clothes for Those Who Need It Most A little over eight months ago Coins 4 Clothes start
Please share if you find this article interesting. Global Chip Supplier Expects Low Demand for Crypto Mining, Offsetting Q4 Revenue Growth Major global chip manufacturing firm Taiwan Semiconductor Manufacturing (TSMC) predicts revenue growth in Q4, but expects a counterbalance due to the low demand for crypto mining hardware, Reuters reports Thursday, Oct. 18. TSMC, the world’s largest independent semiconductor foundry, forecasts “modest” revenue growth in the fourth quarter, mainly due to solid sales of high-end chips for premium smartphones. According to Reuters, TSMC is expecting Q4 revenue to increase to somewhere between $9.35 billion and $9.45 billion, as compared to $9.21 billion a year ago. However, the expected growth will be allegedly offset by the low sales of cryptocu
Please share if you find this article interesting. Blockchain Can Reshape Global e-Government Procurement, Say World Bank Experts Experts with ties to the World Bank Group presented options for using blockchain in e-government procurement (e-GP) in a report released Wednesday, Oct. 17. The World Bank Group includes organizations commonly known together as the World Bank. e-GP, which refers to business-to-government purchase and sale of anything from goods and services to data exchange, has spawned complex structures in many countries, which blockchain technology could help simplify and otherwise “enhance,” the report’s authors say. “Though the implementation of e-GP systems has contributed to enhanced efficiency and transparency in Government Procurement, there is potential for f
Please share if you find this article interesting. Bitcoin Price Eyes Triangle Breakout Above $6.4K Bitcoin (BTC) is again trading in a narrowing price range above $6,400, but the lateral trading may soon give way to a rally, according to technical studies. The price consolidation comes after Monday's big spike to three-week highs above $6,800, which weakened the bearish case put forward by last Thursday's violation of key support. However, so far, a bullish follow-through has not materialized, possibly because buyers are waiting for a more credible evidence of bearish invalidation. Also standing in the way of a potential rally are a number of major key resistance levels, as discussed yesterday.For instance, BTC is yet to find acceptance above the 50-day exponential moving averag...
Please share if you find this article interesting. Only 39 Percent of Chileans Are Aware of Cryptocurrencies, Study Shows The results of the first Financial Knowledge Index conducted in Chile reveal that only 39 percent of citizens have ever heard of cryptocurrencies, according to a paper published Tuesday, Oct. 16, by the Chilean Central Securities Depository (DCV). Consulting company Cadem, which performed the research on behalf of DCV, interviewed almost thousand citizens, both men and women, in 15 regional capitals. The questionnaire included a section on cryptocurrency awareness. According to the paper, Chilean men know more about cryptocurrencies, particularly Bitcoin (BTC), with 51 percent saying they've heard of digital coins before. The situation with women is slightly l...