Headlines for the world of Cryptocurrencies - November 13, 2018

U.S. Museums Now Accepting Cryptocurrencies

The CEO of Great Lakes Science Center, Kirsten Ellenbogen has recently announced that they will be accepting Bitcoin payments starting November 13, 2018.

The institution decided to accept the new payment method to promote awareness about the emerging technology as well as to facilitate the growth of the local blockchain ecosystem.

With this announcement it has become the third museum in the U.S. to accept cryptocurrencies after Museum of the Coastal Bent in Texas and St. Peterburg Museum of History in Florida who have been accepting Bitcoin payments for quite some time now.

Visitors wishing to visit the National Aeronautics and Space Administration (NASA) Glenn Visitor Center can purchase their admission tickets using cryptocurrencies using the newly launched mobile application that utilizes augmented and virtual reality.

This is the second mobile app the institution initiated using augmented reality and virtual reality.

The first one was used to allow guest to experiment with flames in space and test spacecraft designs re-entering Earth’s atmosphere.

divider1.png

New Research Shows Compatibility Between Private Blockchain and EU Privacy Rules

A new research conducted by Queen Mary University of London and the University of Cambridge have recently concluded that Private blockchains could be compatible with new E.U. Privacy rules.

The study was published in November 6, 2018 and presents some interesting findings about the subject matter.

The General Data Protection Regulations (GDPR) act is a recent legislation that seeks to protect the data and information of individuals within the European Union which came into effect May of this year.

It states that all data controllers have to respect the citizen’s rights of keeping and transferring their private information.

Failure to do so will incur the data controller hefty fines amounting up to 20 million Euros which is about 22 Million USD or four percent of global turnover/revenues which is higher.

The study notes that given this new law, crypto-related technologies could fall under these rules and be treated as controllers.

However the new research emphasized that blockchain operators could be treated as processors, like companies behind cloud technologies who act on behalf of users rather than control their data and thus, does not fall under this regulation.

divider1.png

Binance CEO Says Business Still Good Despite Decreasing Trading Volume

Changpeng Zhao (CZ) the CEO of one of the world’s largest cryptpcurrency exchange, Binance, has recently revealed that his company is still in a very good position despite a yearlong bear market in the whole cryptocurrency industry.

The crypto industry has experienced its fourth biggest correction in its 10-year history where it has lost more than 70% of its current market valuation.

In an interview, CZ shares that compared to trading volume in January his company is probably around 90% down.

He cites market correction and high level of stability of Bitcoin (BTC) has been the primary reason of the decreased in volumes.

However, he insist that the company is still trading in high volume especially comparing with trading volumes two years ago.

He also adds that his company is still profitable and the business is still healthy.

CZ also reveals that the over-the-counter market is estimated to be at least as large as the live recorded volumes of major cryptocurrencies exchanges.

This means that current daily volumes reflected in cryptocurrency market data providers like CoinMarketCap, CryptoCompare, and CoinsCap may not reflect the actual state of daily cryptocurrency trading as a whole.

In closing he states that a rally is more likely to happen sooner or later and will be something to trigger.

divider1.png

XRP Will Be Used By World’s 5th Largest Bank For Cross-Border Interbank Payment Service

MUFG, the world’s 5th largest bank and Bradesco, one of the leading universal bank in Latin America, has recently signed a Memorandum of Understanding to co-develop a new cross-border payment service that will pave the way to faster and cheaper money transfers for Japan and Brazil.

The initiative will utilize the Ripple network as they work toward commercializing a high-speed, transparent and traceable cross-border payments solution.

This new development further cemented Ripple’s position as the leading company in the financial services market.

The successful release of xRapid several weeks ago have helped the company’s valuation as well as its image to improve steady.

So much so that at one point it momentarily took the second spot in the cryptocurrency market, overtaking Ethereum from its position.

MUFG has revealed in the past its interest with Ripple’s blockchain project stating that using technology such as Ripple, it will be able to move money faster and cheaper compared to traditional money settlement systems like swift that involves several intermediaries.

Work done which takes the bank 1-3 days to process can now be accomplish in about 30 seconds using Ripple.

divider1.png

Record Performance On Q3 Crypto-Related Business At GMO Internet

The Japanese IT giant GMO internet has recently revealed successful Q3 performance from its cryptocurrency-related business despite current harsh external environment.

It claimed that the company was able to raise revenue of 2.6 billion yen or 22.8 million USD.

This came from its crypto-related business which includes mining equipment production as well as its crypto exchange.

The exchange platform of the company, GMO coin, was reported to have around 208,000 users with trading volume reaching as high as 89 Billion yen ($781 million) in October.

It has been revealed in the report that the company’s profits was up 34.4 percent from the previous quarter.

A revenue for its mining segment is also up from the previous quarter but profits are been down since in Q2 and Q3.

GMO has also recently announced the creation of a stablecoin that will be backed by Japanese Yen.

Dubbed as the GMO Japanese Yen, it will target international transactions and set to launch some time in 2019.

divider1.png

divider1.png


Headlines for the world of Cryptocurrencies - November 12, 2018

Bithumb Providing Payment Service For “Asia’s Amazon” / VanEck Says Bitcoin ETF Could Attract Billions Of Investments / Four Thousand Bitcoin ATM locations Worldwide / Fiat-Backed Stablecoin Will Return In New Zealand Next Year / Ethereum Co-Founder Says Blockchain Will Permeate Society More Than The Internet

Headlines for the world of Cryptocurrencies - November 11, 2018

Digital Safety Deposit Box For Cryptocurrency In Canadian Box / New Rankings In Weiss Cryptocurrency Ratings / Trezor Upgrades Supported Cryptos On Its Wallets / Full Node And Wallet For Liquid Bitcoin / THAI SEC Seen To Approve First ICO Portal Soon

Headlines for the world of Cryptocurrencies - November 10, 2018

DTCC Test Blockchain-Powered Credit Derivatives Platform With 15 Global Banks / Former Western Union And Pay Pal Executive Joins BitPay / US Dollar Is The Most Used Fiat In Trading Bitcoin / Binance Launches Institution Grade Research Wing / DMG Launches 85 Megawatt Crypto Mining Operations

divider1.png

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.040
BTC 70625.87
ETH 3563.07
USDT 1.00
SBD 4.71