Wal-Mart Receives New Cryto-Related Patent

Wal-Mart, the U.S. biggest retail store was awarded a patent that will enable them to develop an electrical grid that will be powered by Bitcoin (BTC) or other digital currency.

This was revealed by the U.S. Patent and Trademark Office (USPTO.

The patent was filed late last year on December 2017 and was subsequently awarded on June 14, 2018.

The system was designed to help companies better manage energy consumption and regulate demand on an electrical grid using a public blockchain.

The system will enable devices on the network to share funds between each other if a device exceeds its allotment of cryptocurrency or sell if there is an excess.

The patent also reveals that the system can be operated independently of any central authority such as central banks, central management system, or central author operated by the energy providers.

New Blockchain-based Supply Chain System From Microsoft and Ardents

According to reports Microsoft and a supply tracking solution provider, Ardents have partnered together to develop a blockchain-powered product tracking platform and artificial intelligence.

Called Ardents NovaTrack, this Blockchain system offers end-to-end traceability from the very beginning of the supply chain to retail markets.

The system applies technologies such as blockchain, Artificial intelligence, and serialization functions. Artificial Intelligence is provided by Microsoft Learning and Business Intelligence.

Christophe Devins, Founder and CEO of Ardents states that the collaboration will provide users with total transparency over their entire supply chains and secure product authenticity for end users.

The product was initially design for the Pharmaceutical industry to prevent the proliferation of fake drugs but developers has since then expanded its application to other high-value industries.

Internet Firm From Israel Wants To Pay Employees With Bitcoins

A social network company Spot.IM is said to be planning to pay their employees with Bitcoins.

However before they can implement their plan they have to coordinate and negotiate with the Israel Tax Authority to receive permission for the proposed payment method and determine the proper calculations for the exchange rates.

Bitcoin payments to their employees are not mandatory and employees may choose if they want to get paid in bitcoin or fiat. They can even choose to get paid 50/50 (Fiat/BTC).

Employees seems to be happy with the said development as the company is said to cover the high conversion fees associated when converting fiat to cryptocurrency.

The Israel government does not recognize cryptocurrency as currency or foreign currency but should be viewed as financial asset.

The Israel also states that it will not allow cryptocurrencies to be listed in the Tel Aviv Stock Exchange as they behave like bubbles and they don’t want investors to be subject to such volatility and uncertainty.

Tim Draper: Fiat Is the Past Whole Bitcoin Is The Future Which Will Reach $250,000

Billionaire venture capitalist Tim Draper who predicted that bitcoin will be valued at $250,000 by 2022 has reiterated his prediction adding that fiat is the past with Bitcoin and Crypto is the future.

His prediction comes at a time when there is an overwhelmingly bearish sentiment in the markets.

Draper believes that cryptocurrency is major disruptive event that is forcing governments to create new regulations that protects the current market without stifling innovation.

He explains that fiat currencies will decrease significantly on the following years and crypto will become a $100 trillion market in which 10% will be bitcoin which accounts to $10 trillion.

The explosion of popularity of cryptocurrencies combined with the lesser use of fiat will make the prediction of Tim Draper a possibility.

This puts Draper among Bitcoin maximalist such as Funstrat’s Tom Lee and John McAfee.

Major Gains After SEC Declares Ether Not A Security

Ether was seen mounted a sharp rally in price after the US Securities and Exchange (SEC) has declared Ether is not a security.

William Hinman, Director of the SEC’s Division of Corporate Finance stated in during the Yahoo Finance’s All Market Summit.

The announcement is widely viewed as a major announcement from the said agency giving more clarity on its stand on the world’s second-largest digital currency by market value, according to CoinMarketCap website.

In response to this pronouncement the market of Ethereum surge as much as 11% to $520.68 from its price of $467.47.

Nate Flanders, CEO of Delaware-based digital asset exchange Mandala, says that Bitcoin and Ethereum is so important in the space that any kind of regulatory clarity to these crypto assets will impact the entire sentiment of the cryptocurrency market participants.

With SEC’s declaration exchanges now has an easier time offering derivatives based on the digital currency.

Chris Concannon, President and COO of exchange operator CBOE GLOBAL Markets Inc. reveals that with SEC’s decision to provide more regulatory clarity to Ether will clear a key stumbling block for Ether futures that could draw institutional investors and make the market more mature and legitimate.

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