Cryptos continue winning streak as Bitcoin price levels observe unprecedented stability
Sep 04, 2018
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- The Australian Securities Exchange (ASX) has announced a six-month delay in the rollout of a specialized blockchain to facilitate equity transactions. ASX has been working to implement the blockchain since December 2017 and had plans to launch in late 2020. However, with the six-month setback, ASX will not launch the blockchain until March or April of 2021. ASX cited plans to devote more time to user development and testing in explaining its decision to delay the blockchain’s launch.
- Bitcoin has maintained a price level above US$7,200 for the three days, displaying a level of stability investors have not seen since early 2017. After breaking through the US$7,200 price level, analysts believe a move past US$7,500 is next.
- Blockstream VP Warren Togami warned investors on Tuesday of a possible ‘51 percent’ attack on Bitcoin Cash’s blockchain. With a hashrate below 8% of Bitcoin’s , Togami warned that a ‘51 percent attack’ could render the cryptocurrency useless. In his rantings on Twitter, Togami cited Bitcoin Cash’s similarity to Feathercoin, a cryptocurrency who’s ‘51 percent’ attack left the coin obsolete.
- The Chairman of the Industrial and Commercial Bank of China (ICBC) announced the bank’s intention to focus on blockchain technology development, as reported by BiaNews on September 1. With more than 5,000 corporate and 530 million personal customers, ICBC is the largest bank in China. ICBC Chairman Yi Huiman clarified that the financial institution will focus on improvements in cloud computing, big data, Internet of Things and artificial intelligence
- German exchange Deutsche Börse announced Tuesday that they have launched a new unit dedicated to cryptocurrency and blockchain development. Managing Director Jens Hachmeister elaborated, saying the unit’s first phase will focus on understanding the trends, technology and potential within different segments of potential blockchain implementation.
- Global crypto wallet Abra will begin enabling the direct purchase and sale of cryptocurrencies with European bank accounts, the company announced Tuesday in a press release. Users will now be able to transfer euros and other national currencies into their wallet, which can then be used to purchase any of 28 cryptocurrencies offered by the crypto wallet.
- Japanese city Tsukuba has officially become the first Japanese city to test a voting system that leverages blockchain technology. The blockchain voting system allows citizens to vote on different social contribution project proposals, such as the construction of a cheap sporting facility and the creation of a new cancer diagnostics center.
- The Korea Internet and Security Agency (KISA) reported Tuesday that it plans to spend at least US$9 million on blockchain project next year. KISA has so far spent US$3.8 million on blockchain projects this year, meaning a US$9 million 2019 budget would approximately double its budge. KISA said that this budget would be spent in both the public and private sector.
- The price of Monero (XMR) surged over 20% this week after Satis Group, an ICO advisory firm, published a report containing bulling forecasts for the coin. The report details a 38,391% upside over the next ten years, citing the case for a need of anonymous cryptocurrency projects like Monero.
- The People’s Bank of China announced Tuesday that it has officially launched the testing phase of its blockchain trade finance platform, according to the Shanghai Securities News. The new blockchain aims to provide an “open financial and trade ecosystem based on the Guangdong, Hong Kong, and Macau Bay are.” The new blockchain should help banks conduct business authenticity audits, slash business costs, and improve efficiencies while helping regulators monitor various financial activities and improve interdepartmental information sharing.
- The Philippines Securities and Exchange Commission (SEC) said Tuesday that it plans to release trading rules for cryptocurrency exchanges to follow, according to local news outlets. The Philipines has been an early mover in crypto regulation, having already published regulatory framework for initial coin offerings and requiring actual registration of crypto exchanges.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio