Month: April 2020

Grant Thornton Moves Intercompany Transactions to EOSIO

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Major U.S. accounting firm Grant Thornton is moving all of its clients’ intercompany transactions to the EOSIO network. Grant Thornton’s new inter.x platform uses blockchain technologies to provide transparency for intercompany transactions, including real-time data-analytics monitoring transfer-pricing compliance and treasury management. A company representative told Cointelegraph that Grant Thornton had chosen EOSIO for “its speed, user experience and scalability.” While a spokesperson said it was difficult to put a dollar value on the firm’s intercompany transactions, the company reported $1.9 billion in revenue for 2019. Intercompany transactions (between business entities…

Bitcoin Could Correct Further To 100 SMA at $8,200 Before Fresh Increase

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Bitcoin rallied to $9,500 before starting a downside correction against the US Dollar. BTC price might dip towards the $8,200 support zone before a fresh increase. Bitcoin jumped more than 20% and tested the main target of $9,500 (as discussed yesterday). The price is down more than 8% and it is now trading well below the $9,000 level. There is a short term declining channel forming with resistance near $8,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct further towards $8,400 or…

Charlie Shrem Says QE, Halving Will Spark Bull Run … in 2021

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At Virtual Blockchain Week, crypto pioneer Charlie Shrem made a strong bull-case for Bitcoin, saying the combination of diminishing supply due to the halving, and wholesale quantitative easing, will drive prices higher over the next one to two years. Bitcoin halving and QE During a fireside chat with the VBW hosts on April 30, Shrem stated that, “It’s kind of crazy that we have a halving during coronavirus because it was such a black swan event.” “We have two trillion dollars of money printed in the United States, people are…

Data Shows $1,000 Bitcoin Price Gains are Followed by 38% Drawdown

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This week Bitcoin price pulled off an incredible rally that appears to have exceeded the expectations of many investors. Data from Cointelegraph Markets and CoinMarketCap shows record trading volume across multiple crypto exchanges occurred as Bitcoin rallied to $9,400 but this doesn’t mean that the long awaited bull market has started.  Crypto market daily price chart. Source: Coin360 History shows that whenever the Bitcoin (BTC) price increased by more than $1,000 on a single day, it was susceptible to a major correction. The recent surge from $7,700 to $9,400 and…

Noted Tax Haven Cayman Islands Sees New Bills to Bring Local Crypto to FATF’s Heel

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On April 28, the legislative assembly of the Cayman Islands gazetted five new pieces of legislation governing crypto businesses — especially exchanges.  How the new legislation would change the Cayman Islands’ crypto industry The Virtual Asset Service Provider Bill would establish definitions and registration requirements for companies providing crypto services including exchanges, custodians and decentralized financial operators. Accompanying this bill are amendments to other reigning pieces of finance legislation for securities and stock exchanges. A provision included in the VASP Bill is the sandbox license. Such licenses would allow companies…

Famous Venezuelan Entertainer Quits Acting to Lead Controversial Crypto Startup

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Long-time Venezuelan actor and singer, Fernando Carrillo, has announced his retirement from acting. He has decided instead to venture into the crypto business. Starting May 1, Carrillo will become the CEO of Fight to Fame, though his role only extends to Mexico and the Latin American region. According to an article published on April 29 by the Mexican newspaper, El Universal, Carrillo will lead the Singapore-based crypto firm founded by Morgan Shi. This company is known for issuing the FF Token. Actor sees Blockchain as the “future” Fernando, who is…

Local Chinese Government Launches Its First Blockchain Platform

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The government of Anhui, a province in eastern China and a part of “Yangtze River Delta Economy Region”, has officially launched its first blockchain platform for providing government services. The launch occurred on April 30, according to local news reports. Starts with local law sector “Blockchain + Electronic Certificate and License” is also the first application being launched on the government’s blockchain platform, says the report. The application will initially place lawyer’s practice licenses on the blockchain. This will help to provide better transparency and authentication in the sector. The…

Nasdaq Partners With R3 to Help Build Institutional-Grade Digital Assets

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The world’s second-largest stock exchange and capital markets technology company, Nasdaq, has entered a partnership with enterprise blockchain solutions platform, R3.  R3 announced the partnership on April 29, 2020, stating that Nasdaq will use its blockchain software, Corda, among other services. Their intention is to help financial institutions easily build and deploy institutional-grade digital assets. This is a long-term, non-exclusive partnership between the two firms, which means Nasdaq can still collaborate with other blockchain solution providers to work on new projects. R3’s compatibility with highly regulated environments inspired the partnership…

Matic Announces a Privacy-Centric Coronavirus Tracking App

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Blockchain scalability solution, Matic, launched a privacy-focused coronavirus tracking mobile application. According to an April 29 announcement, the new app — dubbed Tracy — leverages the Matic network for contact tracing and quarantine management. The solution also uses decentralized data storage solution, MóiBit, to store sensitive data. Per the announcement, Tracy is the first blockchain-based solution that was developed for quarantine management and contact tracing. The application is meant to let users understand how likely they are to have come in contact with somebody who tested positive for the coronavirus.…

World’s First Crypto Bank Adds Support for Ripple’s XRP

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Sygnum Bank, the first crypto bank licensed by FINMA, announced on April 30 that Ripple’s XRP tokens are now available through its banking services platform. Users can access deposit, exchange, and credit services using the popular digital currency. Based in Switzerland, the bank will now allow the third most capitalized digital token behind Bitcoin (BTC) and Ethereum (ETH) to be used by clients seeking to diversify their direct investments in digital tokens, in conjunction with other asset management products offered. Sygnum customers can use deposits in traditional currencies, such as…