Day: September 25, 2018

DLT and AI Task Force Chairman Calls on Government to Tokenize Economy

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Kenyan Distributed Ledgers and Artificial Intelligence task force chairman Bitange Ndemo has said that the government should tokenize the economy, local news outlet The Star reported September 25. The taskforce was established in March by the government of the Republic of Kenya in order to evaluate proposals on how to deploy blockchain technology in the public sector. The working group consists of local blockchain startups, experts, researchers, regulatory bodies, lawyers and other associated parties. Speaking at an Information and Communication Technology Ministry (ICT) stakeholders meeting with the private sector, Ndemo…

Ripple (XRP) Price Watch: More Bulls Joining, Next Upside Targets

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Ripple Price Key Highlights Ripple looks ready to resume its climb after pulling back on its upside breakout. Recall that price busted through a long-term descending channel to signal that a long-term uptrend is in the cards. Price has since found support at the area of interest around the 0.4500 mark and 61.8% Fib. Ripple looks set to resume its climb as bulls defended the area of interest at the 61.8% Fiboancci retracement level. Technical Indicators Signals The 100 SMA just recently completed its bullish crossover from the 200 SMA…

Bitcoin (BTC) Price Watch: Some Hope for Bulls?

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Bitcoin Price Key Highlights Bitcoin price recently formed lower highs and found support at $6,100 to create a descending triangle. Price was rejected on its test of resistance, but bulls seem ready for another attempt to break higher. Bitcoin is forming a short-term ascending channel and is currently testing support. Bitcoin price bounced off its descending triangle top, but bulls might gain more energy on this bounce off the short-term channel. Technical Indicators Signals The 100 SMA is still below the longer-term 200 SMA to indicate that the path of…

Monero Developers Have Patched the ‘Burning Bug’

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The developers of open-source cryptocurrency Monero (XMR) have patched a bug that could allow an attacker to “burn” the funds of an organization’s wallet while only losing network transaction fees, according to an announcement published September 25. The bug was reportedly discovered after a community member described a hypothetical attack on the XMR subreddit. The bug could purportedly affect merchants and organizations in the XMR ecosystem, enabling an attacker to trigger significant damage. The blog post further describes how the bug would be exploited: “An attacker first generates a random…

Panel Discusses Token Classification and Compliance for ICOs

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More than 45 representatives from major Wall Street firms and crypto companies took part in a meeting to discuss Initial Coin Offering (ICO) and cryptocurrency regulations in Washington D.C. September 25. The “crypto roundtable,” hosted by Congressman Warren Davidson in the last legislative session week before elections, gave a chance for industry representatives to express their concerns regarding possible regulations of the crypto space. Namely, experts told lawmakers that there is a pronounced lack of regulatory clarity for ICOs and digital currencies. Roundtable participants discussed “token taxonomy,” aiming to describe…

XRP Price Analysis:IMF Official to Attend Ripple Sponsored Event

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Though sellers are back, XRP is up 50 percent on a weekly basis. That’s down 50 percent from early this week when XRP prices were trading at around 60 cents. Still, we retain a bullish overview expecting buyers to pick up and even drive prices back to 80 cents by the end of the year. When we factor in everything, prices might get a boost during Ripple’s SWELL conference. That’s when thought leaders and policy makers from all over the world are expected to deliver their key notes. Latest Ripple…

New Coinbase Listing Process Will Allow Exchange to ‘Rapidly’ Increase Supported Assets

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Cryptocurrency exchange Coinbase has announced a new process that will allow it to list more digital assets faster, according to a statement published September 25. Per the announcement, the new process refers only to digital assets that are compliant with local law, which means that certain assets listed on the platform may only be available to customers in particular jurisdictions. Issuers who want to submit tokens at Coinbase via the newly adopted process will have to use a special form, which will subsequently be evaluated by the exchange team against…

North Korea ‘Increasingly’ Uses Crypto to Avoid US Sanctions, Experts Claim

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North Korea is “increasingly” using cryptocurrencies to evade sanctions imposed by the U.S., according to two Washington-based experts cited by news site Asia Times on September 24. Lourdes Miranda and Ross Delston sent a joint response to an Asia Times’ inquiry regarding the use of crypto by the government of North Korea (DPRK). Miranda is an independent financial analyst and a financial crimes investigator, and Delston is an independent attorney and expert witness in money laundering cases. Both experts have claimed that the country is successfully trading existing cryptocurrencies, and…

Major US Dairy Co-Op Pilots Blockchain Technology for Food Supply

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Dairy Farmers of America (DFA), a U.S. national milk marketing cooperative, has teamed up with food fintech startup ripe.io to pilot a blockchain-powered project aimed at improving the food supply chain, according to an announcement published September 25. DFA is a cooperative owned by dairy farmer-members in 48 states, the net income of which totalled $127.4 million in 2017, while its net sales were over $14 billion. In 2017, the cooperative directed the marketing of 64.4 billion pounds of milk, representing approximately 30 percent of the total milk production in…

Ripple Price (XRP) Pumps on Coinbase Listing Overhaul

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Bolstered by a hopeful announcement from cryptocurrency exchange giant Coinbase, the ripple price (XRP) broke out of its recent bearish trend. Ripple Price Breaks out of Early-Week Slump Ripple had traded deeply in the red for most of the day, shedding much of its phenomenal gain from the previous week. That changed on Tuesday evening when the third-largest cryptocurrency surged on a wave of bullish sentiment. As of 22:09 UTC, the ripple price was trading at $0.478, up from an intraday low of $0.436. XRP/USD | Bitstamp The ‘Coinbase Effect’ The…