Cryptocurrencies see red as Bitcoin (BTC) gives up USD$6,400 level
Nov 13, 2018
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- Amazon has been awarded two patents for a system that protects the integrity of digital signatures and a system that improves distributed data storage. As per patent applications published on the US Patent and Trademark Office website, the first patent application was filed in April of this year and details a “signature delegation” method for “protecting the integrity of digital signatures and encrypted communications” through one-time-use cryptographic keys. The second patent application was first filed in December 2015 and proposes a “grid encoding technique,” using shards, where each shard represents data stored across a given grid.
- American Express has filed for a patent that details a blockchain system to capture and transfer the image of a receipt, as per the US Patent and Trademark Office’s website. The patent was filed under American Express’ travel subsidiary and is titled, “Linking digital images with related records,”. The patent describes a system that allows users to capture an image of a receipt using their mobile device -- the system then uses “optical character recognition,” to decipher the image and match it with related records like transaction history.
- Cryptocurrency mining farms’ operations in Chinese provinces Xinjiang and Guizhou were abruptly suspended to allow the government to conduct a “very strict,” tax inspection and real-name registration checks, as per local news outlet Cong News. The abrupt shutdown, which began on November 5th, has caused mining farms to lose about 1 million yuan (USD$143,700) per day. While the inspection has since been completed, it remains unclear whether Chinese officials have restored electricity to the farms.
- GoverMedia Plus Canada, a Canadian holding firm, will acquire EXMO, a UK-based cryptocurrency exchange, as per a joint announcement published today. GoverMedia and EXMO have signed a Letter of Intent (LOI) to exclusively negotiate the transaction over the next 180 days. GoverMedia CEO Roland J. Bopp discussed the transaction, saying that completion of the “business combination,” will result in more than 2 million active users -- Bopp also discussed a potential expansion into Europe, North America, and Asia.
- Japanese IT giant GMO announced a CY3Q2018 loss of 640 million yen (USD$5.6 million) for its cryptocurrency mining business segment, as per the company’s quarterly financials release. The CY3Q2018 loss for the firm’s cryptocurrency mining business represents a 77.8% decline from its loss of 360 million yen (USD$3.2 million) in CY2Q2018. GMO highlighted that the loss from its cryptocurrency mining business was offset by gains generated from its cryptocurrency exchange business.
- Myongji Hospital, one of South Korea’s largest hospitals, is partnering with BiCube, a local Korean tech company, to develop a medical services platform that leverages blockchain technology. The two parties have signed a Memorandum of Understanding (MoU) to use blockchain technology in building a healthcare information exchange platform. The platform will allow patients to share medical documents and data with hospitals and medical institutions upon authorization, without requiring the data to be stored centrally.
- Raiffeisen Bank International’s Russian subsidiary is partnering with Russian state-owned oil giant Gazprom Neft to issue a bank guarantee on blockchain, as per Russian news outlet Kommersant. Raiffeisen issued its first bank guarantee on blockchain in order to facilitate a trade finance transaction involving Raiffeisen, Gazprom Neft, Mozyr Oil Refinery, and Priorbank of Belarus. According to Tatyana Ivashkova, Raiffeisen Russia’s head of documentary transactions and trade finance, blockchain allows deals to be finalized as soon as payments are made due to blockchain’s ability to allow users to access documents simultaneously.
*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio