SWIFT, the operator of the platform used by the global banking system, has added 22 new banks to its ongoing blockchain proof-of-concept (PoC), deemed by SWIFT as ‘the new standard for cross-border payments.’ In an announcement today, SWIFT has confirmed the addition of 22 additional global banks to the PoC blockchain endeavor founded by six initial banks in April this year. As Altcoin Today reported at the time, SWIFT chose the Hyperledger Fabric, a product of the open-source Linux Foundation-led Hyperledger initiative, for the core technology of the trial. The aim of the blockchain trial is to enable banks to reconcile with their international nostro accounts in real-time. Nostro accounts are critical to the global banking system, enabling banks to deposit money in designated n
A technology company involved in the UN’s blockchain trials has expanded its work with the tech through its aid-focused payments platform. As reported by BitcoinMine, IrisGuard’s technology was utilized by the UN to verify the identity of refugees in Jordan who, as part of the test, were awarded financial aid through an ethereum-based payment platform. Late last month, IrisGuard announced that its EyePay platform, aimed at facilitating trusted payments, had been upgraded to interface with blockchain-based networks more easily like the one deployed in the Jordan test. According to a release from IrisGuard, the company has helped the UN enroll over 2.3 million refugees from Jordan, Lebanon, Iraq, Egypt and Syria using EyePay. Imad Malhas, the company’s founder and CEO, said in a
Major anonymous free market, Alphabay, has been reported to have been offline since Tuesday. The detection of a large sum of bitcoin being moved from a wallet believed to be owned by Alphabay and scant official statements regarding the outage has led to speculations that the dark market may be attempting to conduct an exit scam – despite a lack of hard evidence to support the claim. Alphabay Employee ‘Trappy’ Posted on Reddit This Morning but No Reason was Given for the Site’s Downtime Alphabay, a leading anonymous dark market, has reportedly been offline since Tuesday. Alphabay failed to issue an official statement (see below) until 28 hours after the outage was first reported, leading to speculation that the anonymous free market may be attempting to conduct an ‘exit
Last May Bitcoin network’s hashrate surpassed four exahash per second. Just two months later on July 1st, the hashrate has increased another two exahash which transcended to a high of 6,622,799,000 GH/s according to Blockchain.info and Bitcoin Wisdom statistics. Bitcoin Hashrate Reaches New Highs The first week of July is showing the vast power of the Bitcoin network as miners are currently processing transactions at a whopping 5,808,727,020 GH/s. On July 1st miners pushed the hashrate up over six exahash per second reaching it’s highest point ever recorded. The mining ecosystem is far bigger than during the early days, as miners progressed from CPU mining, GPU mining, FPGA Mining, to giant warehouses filled with ASIC miners. Furthermore, there are far more mining pools today,
UK police have brought fraud and money laundering charges against Ryan Kennedy, the founder the now-defunct dogecoin exchange service Moolah. Kennedy, who created Moolah under the name Alex Green, appeared in court today, according to a statement from the Avon and Somerset Constabulary. Though the exact charges weren’t identified, police said the associated crimes took place during 2014. The new charges, quietly announced on 29th June, follow a three-year investigation investigation by authorities in the UK, coming more than two years after he was initially arrested (and later released) by police. Local authorities said in a statement: [Kennedy] has been charged with a number of offences under the Fraud Act 2006 and Proceeds of Crime Act 2002. It is alleged the offences were
Ethereum price recovery was limited against the US Dollar and Bitcoin, and the ETH/USD pair might continue to face selling pressure below $268 in the near term. Key Highlights ETH price corrected a few points recently towards $268 against the US Dollar, but recovery was limited. There is a descending channel with resistance at $262 forming on the hourly chart of ETH/USD (data feed via SimpleFX). The pair might continue to decline and move towards the $250-245 levels in the short term. Ethereum Price Decline It looks like ETH price has started a slow and steady downside move from the $282 swing high against the US Dollar. The price recently traded towards $249 from where a minor recovery was initiated. The mentioned recovery took the price above the 23.6% Fib ret
Dash price is rocketing higher against the US Dollar and Bitcoin, and now DASH/USD is well above a key resistance levels like $200. Key Highlights Dash price surged higher above the $200-210 levels versus the US Dollar, and performed a lot better than Bitcoin. There are two bullish trend lines formed with supports as $210 and $190 on the hourly chart of DASH/USD (data feed from Poloniex). The price currently looks set for more gains above the $220 level towards $230 in the near term. Dash Price Monstrous Ride There was a sharp buying interest for Dash, which took its price above a major resistance of $200 against the US Dollar. Dash also performed a lot better than Bitcoin and gained more than 10% versus BTC. It seems like Dash outpaced the bearish sentiment sin...
Bitcoin price is consolidating in an ascending triangle pattern on its 1-hour chart, still deciding whether to bounce or break from resistance. Bitcoin Price Key Highlights Bitcoin price is forming a new triangle on its 1-hour time frame, reflecting hesitation among bulls and bears. Price has formed higher lows and found resistance at $2600, creating an ascending triangle pattern. Price is currently testing the resistance and could be due for another move back to support around $2500. Technical Indicators Signals The 100 SMA is slightly above the longer-term 200 SMA to signal that the path of least resistance is to the upside. This means that a break higher could be possible if bullish momentum gets stronger. However, stochastic is heading south so bitcoi...
Bitcoin traded near $2,600 Wednesday, according to CoinDesk. Standpoint Research founder Ronnie Moas said the digital currency could rise to $5,000 "in a few months." "This is not something I could keep my hands off of," Moas said. Evelyn Cheng | @chengevelyn Stock research analyst Ronnie Moas said he bought bitcoin this weekend and thinks it could reach $5,000 within a year. "$5,000 could happen in a few months. It's only starting to gain traction right now," Moas, founder of Standpoint Research, told CNBC in a phone interview Wednesday. "It's starting to spread like wildfire right now." He pointed out that since only 21 million bitcoin can ever exist, increasing demand for the digital currency will naturally drive its price up. Bitcoin briefly tripled
It’s already bad enough we live in a world overpopulated by idiots. Worse, they are often in charge of ‘the monetary system’ and even head up ‘the media’! Luckily for tomorrow, entrepreneurs are busy developing a decentralized crypto-monetary platform for a money that nobody can control, and an alternative media, of which we are part. One recent article encompassed precisely the unnecessity of the stupidity of central bankers and their mainstream financial media lapdogs. The article was entitled, “Amazon cutting prices at Whole Foods will not cause deflation.” The author was responding to a quote from a Fed official, Charles Evans, who claimed the merger would result in lower grocery prices. Naturally, technological innovation and other types of productivity enhanceme