• AgriDigital: Blockchain Solutions for Agricultural Problems!
• IBM and Stellar: Blockchain Banking across Borders!
• Number of Bitcoin ATMs in Russia is increasing!
• Gibraltar aims at comprehensive Blockchain Regulation!
• ETH Course Analysis for Week 41/2017!

---

The AgriDigital blockchain project deals with the application possibilities of technology in the agricultural sector. The focus is on optimizing the supply chain for grain.

AgriDigital has set itself the goal of developing innovative solutions for currently existing problems in the agricultural sector. To achieve this, transparency, efficiency and confidence in the agricultural ecosystem should be enhanced, as stated on the project's website, which was set up by a team of experts from the software development and agricultural sectors in Australia.

The identified problems of the current situation in agriculture are highlighted by AgriDigital from various perspectives. While farmers are faced with the problem that they are not always paid directly for their goods when they deliver them, traders are faced with the challenge of closing their own financing gap to guarantee the same payment until the acquired goods are processed or sold. Donors who are financially backed by traders will not have any insight into what transactions are done. The same is true for the end user who can not follow the exact course of the supply chain at the supermarket.

To breach this doom loop, AgriDigital provides software for all those involved in the local or global supply chain for cereal products, be they farmers who grow crops, buyers and distributors or operators of warehouses. Through the platform, users are to manage contracts for the trading, delivery, storage and payment of grain directly and in one place.

As one of the leading developers of software platforms for transactions and payments of agricultural goods, the start-up relies on the disruptive potential of blockchain technology, including the use of smart contracts, to tackle the above identified problems. Already in December last year AgriDigital successfully tested the first transaction of an agricultural product through the Blockchain, and an Australian farmer with a real-time payment for his product, as the farming magazine Grain Central writes.

---

The American IT company IBM is cooperating with the open source financial services provider Stellar. The objective is to develop a common block-chine solution for cross-border payments.

The blockchain project designed by IBM is intended to help the financial industry and its customers to execute cross-border transfers across national borders faster and more cost-effectively. A transnational transfer, which is close to real-time, is envisaged is therefore a lot faster than before. Due to higher hurdles of paying across borders, money transfers can usually take several days.

According to Fortune magazine, a network of 12 different currencies is being built, which is made up of the currencies of the South Pacific states. In addition to Australia and New Zealand as the main driving force of the project, the network also includes several island states such as Fiji or Tonga. The British Pound can also be synchronized as a currency within the network.

To enable cross-border transactions, Stellar provides its lumens token, which can be used as a means of payment throughout the network. Lumens is the Crypto currency of the technology start-up Stellar. The token is specifically designed to connect banks, payment systems and people.

Thus, as a result of the cooperation of the currency areas, a farmer from Samoa will soon be able to conclude a direct and immediate contract with an Indonesian buyer using the blockchain technology to verify, deposit and store cash transfers.

---

The number of Bitcoin ATMs in Russia is growing significantly. Ten ATMs were recently launched by a Russian startup in five districts of Novosibirsk. In addition, another company announced to install 100 vending machines in hotels and airports from October.

10 Bitcoin ATMs in Novosibirsk

In the third largest city of Russia, Novosibirsk, the startup BBFpro has set ten BTC ATMs. These are located in five different urban areas: Kalininsky, Zheleznodorozhny, Oktyabrsky, Leninsky and Kirovsky.

Anton Friedel, board member at BBFpro said about the installation of the ATMs:

Despite the increasing number of Bitcoin ATMs, uncertainty remains in Russia over Bitcoin's future. Just a few days ago, the government said that crypto currencies would not be legalized. Deputy Finance Minister Alexei Moiseev said that "Crypto currency exchanges should not be legalized in Russia". His statements came only shortly after the government could not agree on a definitive regime for crypto currencies and postponed the creation of framework guidelines next year.

---

The British overseas area of Gibraltar is a refuge for many blockchain start-ups due to its crypto friendly regulation. Many ICOs have been carried out in the past under the jurisdiction of the Iberian Peninsula. Now a new legal framework of the responsible financial authority is to bring even more clarity in terms of blockchain regulation.

The new guidelines are to be introduced by January next year and cover all commercial applications of blockchain technology. In addition, as the storage and exchange of crypto assets is addressed explicitly, the regulation also includes crypto exchanges as well as any other services associated with crypto assets.

These guidelines should take into account the aspects of cyber security and investor protection. The acquired legal certainty would be particularly beneficial to consumers whose crypto assets would then be subject to legal principles. This would allow investors and consumers the opportunity to claim their claims.

With the new regulation coming into effect, Gibraltar would be one of the few countries to have a comprehensive blockchain regulation. In addition to ICOs and crypto exchanges, investment funds and other financial products could also experience further growth on the peninsula. The domestic stock exchange, Gibraltar Stock Exchange, is also working to integrate the blockchain into securities processing.

Gibraltar thus reinforces the trend that many overseas territories, which are often known as tax havens, have a chance to attract investors' money in blockchain technology and, above all, in crypto currencies. The slender government apparatus, these mostly tiny territories, allows a fast and uncomplicated adoption of the appropriate guidelines.

---

From October 13th, Ethereum's price rose to EUR 291.05 (USD 344.06), but has since fallen again and is currently USD 273.11 (USD 322.85).

Image based on data from Kraken.com

Summary

• The Ethereum course has risen during the week.
• The Resistance last week at EUR 265.08 (USD 310.95) could be broken, but the price is currently falling back on it.
• The short-term support is EUR 265.08 (USD 310.95), the short-term support is EUR 285.53 (USD 337.53).

On Friday, the 13th, Ethereum investors refuted a classic superstition: the price rose by 16% within one day. Accordingly, the Resistance, which was discussed last week, was overcome. However, this increase was short-lived and so today the price has fallen below the exponential moving average over a day or two.

The MACD (second panel) is accordingly negative and the MACD line (blue) is below the signal (orange).

With 32 the RSI (third panel) is almost already in the over-sold area.

The analysis of movements in 60 mins. chart speak a bearish language. The most important support of the week is described by the Resistance last week and is EUR 265.08 (USD 310.95). The most important resistance this week is described by the resistance of yesterday's plateau is EUR 285.53 (USD 337.53). A rise above this value would mean that the current pump is stable. Before this resistance, however, the exponential moving mean values over one or two days are still to be overcome at EUR 280.47 (USD 331.55) or EUR 275.64 (USD 325.84).

The long term course development
Let us consider the 240 mins. chart as the first to assess medium and long-term developments:

Image based on data from Kraken.com

The current, in 60 mins. chart negative course movement gains a somewhat more conciliatory meaning in the larger context: since the middle of September, the course is in an upward channel (not a narrow triangle pattern as expected last week). The current price falls within the same range: At the resistance of the upstream channel, the price has bounced and is now in a downward trend.

The MACD is still positive, but the MACD line has fallen below the signal. The RSI is slightly bearish at 47. In the medium term, the situation is neutral to bearish. Support and Resistance are described by the Upward Channel at EUR 254.73 (USD 301.12) and EUR 295.46 (USD 349.27).

Let's take a look at the 1D chart:

Image based on data from Kraken.com

Here too, everything is going according to plan: the course is still in the triangle pattern. The upturned point indicates a resistance test at the end of October / beginning of November. Currently, the price is moving around the 23.6% fib retraction level. It is also interesting to note that the support of the upstream channel roughly coincides with the exponential moving averages over a month or two months respectively.

The MACD is overall positive and the MACD line is above the signal. The RSI rating is 57 bullish.

Overall the long term forecast is bullish. Both support and resistance are further described by the Triangle Pattern. Key Resistance is EUR 312.98 (USD 369.98), the most important support is EUR 239.84 (USD 283.52).

Disclaimer:

The course analysis is from the yesterday morning MUT time zone and can have changed since. The price estimates presented in this post are not a recommendation to buy or sell. They are merely an estimate of me.

---

Don't miss your CHANCE to WIN 20 Whaleshares or a 20% upvote from @officialfuzzy in the 🏆BITCOIN COURSE CHALLENGE Week 2🏆

How and where to participate, just click HERE!!!

☘ Best of luck to all of you ☘

---

I wish you all a lovely Monday and a great Week!!!
ⓁⓄⓥⒺ & ⓁⒾⒼⒽⓉ
Best regards
@danyelk