Major Latin American Development Bank Pilots Blockchain for Land Registry

The Inter-American Development Bank (IADB) is implementing three different blockchain pilot projects to test if blockchain technology is able to solve some of the problems of land titling and registries. On Oct. 28, blockchain startup ChromaWay reported that it is collaborating with IADB on a two-year project in Bolivia, Peru and Paraguay on an initiative called “Distributed Ledger Technology (Blockchain): The Future of Land Titling and Registry.” Chromaway, which has experience in tracking land titles in countries such as Sweden, Canada, India, and Australia, will run the pilots together with…

How Lebanon’s Economic Crisis Highlights Bitcoin’s Limitations

Lebanon is far from a poster child for cryptocurrency adoption. News of Lebanese banks shuttering to prevent a bank run was met with predictable enthusiasm from the global bitcoin commentariat. People in Lebanon can no longer send foreign currencies, mainly dollars and euros, abroad. Further, due to heavily restricted banking access and limited liquidity provided by established grassroots networks, most Lebanese civilians also struggle to acquire bitcoin. Long-time bitcoiner Ali Askar, currently on the ground in Lebanon, told CoinDesk a few Telegram and WhatsApp groups for local traders have nearly…

Bitcoin Pops after Xi Jinping’s Blockchain Endorsement

China’s President Xi Jinping’s endorsement of the blockchain technology sent bitcoin up by more than 40 percent. The benchmark cryptocurrency established a new session high of $10,540.49 after rising by $3,109 over the weekend. The surplus gains came after a depressive performance last week, wherein bitcoin price shed as much as 17.33 percent, or $1,529.96. However, on Friday, Xinping called blockchain “a core technology” of China’s next-age innovation plans. The premier called for more investments into the nascent sector, a move that speculators treated as bullish for blockchain’s first working…

Blockchain Startup Raises $5M to Automate Airport Security Checks

Blockchain startup Zamna raised $5 million to automate airport security checks using blockchain and biometrics technology, tech news outlet Silicon Republic reports on Oct. 28. The startup plans to use the funding to deploy its Advance Passenger Information platform. Zamna also said that International Airlines Group (IAG), Emirates Airlines and United Arab Emirates’ General Directorate of Residency and Foreigners Affairs are now among its clients. According to company data website Crunchbase, the seed round was reportedly led by venture capital firms LocalGlobe and Oxford Capital partners alongside IAG, one of…

Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise

View Bitcoin remains trapped in a four-month falling channel despite registering double-digit gains last week. Prices could pull back to former resistance-turned-support of $8,800 in the next 24 hours. The bearish case would be invalidated above $9,730. A weekly close or two consecutive daily closes (UTC) above the falling channel hurdle at $9,730 are needed to confirm a resumption of the bull rally from April lows around $4,000. Bitcoin (BTC) eked out double-digit gains last week, but failed to invalidate a four-month bearish trend. The top cryptocurrency by market capitalization closed…

Bitcoin (BTC) Price Steadies Uptrend But Another Correction Likely

Bitcoin price is gaining bullish momentum and is trading above $9,500 against the US Dollar. The price is facing a strong resistance on the upside near the $9,820 and $9,850 levels. There is a crucial bullish trend line forming with support near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct in the short term towards $9,200 before another rally. Bitcoin price is trading in a steady uptrend above $9,000 and $9,200 against the US Dollar. BTC is likely to climb steadily…