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  • Italy to Use Blockchain in Copyright Protection and Notarization Services

    Jan 25, 2020 at 09:45 // News Up to now, it is not yet well known what technical standards blockchain technologies must meet to produce the legal effects of electronic time validation. However, it seems that in the near future, Italians will need blockchain to carry out digital notarization and copyright protection. A lawsuit to push judges to rule on the effectiveness of blockchain certification. According to IP law experts, if a court involving a counter terrorist unit (CTU) is involved in a forgery proceeding, this technical advisor will only be needed to confirm the immutable nature of the blockchain-certified document, and therefore its reliability. The Dl Simplifications Standard There is a rule, but it remains incomplete, orphaned by the measures of the Agid called to complete this first Italian legislative framework on the “chain of blocks”. The rule dates back to February, when the Law-converted Simplifications introduced the definitions of ‘smart contracts’ and distributed ledger technologies (DLT) including blockchains. While the technical standards and guidelines in charge of the Agency for Digital Italy were to arrive by mid-May. The…

    Jan 25, 2020
  • Bitcoin’s Github Community Now Boasts of 3000+ Members

    According to recent data by GitGitRun.com, Bitcoin’s Github community has now has more than 2800 members, with some speculating that the real member count has gone past 3,000. Github is quite well-known for being an online developer hub, where experts and amateurs alike can join forces, host and review codes, manage projects, build software together, and more. This is a place where any code can be taken apart, thoroughly investigated and studied, and then improved, if there is a need for an unofficial intervention. However, with a platform like that, it would be hard to imagine that the concept of digital currencies — money that is nothing but code underneath the surface — did not attract the developers’ attention. Bitcoin, in particular, stands in high regard due to its unique nature and a promise to change the financial world. Now, according to recent data from GitGitRun.com, it appears that  Bitcoin’s Github community managed to reach 2,800 members yesterday, January 24th. However, as the Bitcoin community member on Reddit, u/THE_ReD_TrucK, had noticed — not all repos are tracked, which led him…

    Jan 25, 2020
  • OneCoin Accomplice Requests Sentence Postponement

    According to a recent letter filed by Mark Scott’s counsel, the OneCoin co-conspirator is trying to get his sentencing postponed until the 21st of April. The crypto space is filled with reports of scams, most of which took place back in the days when Bitcoin was surging towards its all-time high of $20,000. One fraud that started in 2016, slightly before the famous surge, involved a company called OneCoin, whose conspirators were since arrested and put on trial. The co-conspirator, Mark Scott, was already convicted back on November 21st, 2019. The court found him guilty on two counts — conspiracy to commit bank fraud, and the conspiracy to commit money laundering.  All that remains is for him to be sentenced, which was supposed to take place on February 21st of this year. However, before that happens, the court has given him time to file any Rule 29 or Rule 33 motions. In other words, Scott can use this time to request acquittal or retrial, which he can do until February 3rd. After that, the government will have three weeks —…

    Jan 25, 2020
  • BAKKT Former CEO Takes On New Role Overseeing CFTC In Congress

    Kelly Loeffler (R., Ga.) previously served as the CEO of Bakkt, a cryptocurrency trading platform. She is now set to join a committee performing oversight functions on the Commodity Futures Trading Commission (CFTC), with this triggering conflict of interest concerns.   Loeffler has been appointed to the Senate Agricultural Committee, with her appointment being actualized by the Republican governor of Georgia. The Senate Agricultural Committee is tasked with delineating the functions of the CFTC and approving nominations as regards chairmen and commissioners. The committee is also responsible for reauthorizing the CFTC to perform the role of a federal regulator.   Loeffler was previously the CEO of Bakkt during its launch in August 2018 under the auspices of its parent company, the International Exchange (ICE). She was in charge when the CFTC approved Bakkt’s request to start trading bitcoin contracts that were physically settled.    Bakkt opened for trading in September 2018 and in December of that year, Loeffler resigned and took up politics. Her husband is Jeffrey Sprecher, who founded, chairs and is the current CEO of ICE.   The…

    Jan 25, 2020
  • ‘Nothing Special’ — Bitcoin Slumps 6% on Coronavirus, Chinese New Year

    Bitcoin (BTC) has shed 6% in a week thanks mainly to Chinese New Year and uncertainty over coronavirus, commentators are suggesting. Analyzing Bitcoin price data along with Chinese stocks’ performance on Jan. 24, social media resource Light said a slump in performance had spread to cryptocurrency. Cryptocurrency market daily overview. Source: Coin360 Stocks correlation shows Bitcoin’s “global stage” Over the past several days, it notes, Bitcoin has in fact broadly correlated with stocks. Such behavior is reminiscent of what many perceived as a reaction to another global event — the Iran crisis — earlier this month. “China coronavirus-driven risk-off blanketing Chinese equities… and Bitcoin. Iran correlation, now Chinese equities,” Light commented. The analysis summarized: “If there was ever a statement to the effect, Bitcoin has now made it to the global stage.” Twitter Facebook reddit Pinterest Hacker News LinkedIn Tumblr Google+ VKontakte Bitcoin vs. Chinese equities. Source: Light/ Twitter Chinese New Year pressure returns Coronavirus continues to spread beyond China, despite authorities’ attempts to contain it by imposing travel bans and boosting healthcare provision.  BTC/USD has lost just over 6%…

    Jan 25, 2020
  • How bitcoin can perform during Chinese new year holidays

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    Jan 25, 2020
  • Blockchain usecase in insurance | ItsBlockchain

    January 25, 2020 by Hitesh Malviya 7831 ,

    Jan 25, 2020
  • Crypto and the Latency Arms Race: Market Microstructures

    Max Boonen is the founder and CEO of crypto trading firm B2C2. This post is the third in a series of three that looks at the structure of crypto markets. Opinions expressed within are his own and do not reflect those of CoinDesk. In the two previous articles, I summarized the evolution of speed in modern finance and the balancing act between good and bad latency reductions. Let us now examine the venues where trading takes place and how they fare in this world of increasing speeds. To trade financial assets, a variety of market designs are possible: those are called market microstructures. We will explain three major ones found in crypto today, why they exist and how one should evaluate them. This is the classic exchange, represented in popular culture by the ubiquitous facade of the NYSE. What exchanges provide is known as a central limit order book (“CLOB”). It is central because all participants send orders to it. It is “limit” because the price specified by an order indicates the limit (worst) price at which the trader is…

    Jan 25, 2020
  • US Deficit Will Be at Least 6 Times Bitcoin Market Cap — Every Year

    The average budget deficit of the United States will “never” be less than $1 trillion per year in the future — or 4.5% of GDP, worrying data on the fiat economy shows.  Compiled by the U.S. Congressional Budget Office (CBO) and shared by crypto hedge fund manager Travis Kling on Jan. 21, statistics reveal that the annual deficit is set to hit $12.2 trillion for the entire 2020s. Deficit as GDP share up 55% in 50 years “Such deficits would be significantly larger than the 2.9 percent of GDP that deficits averaged over the past 50 years,” the CBO itself commented when it released the projections last September.  U.S. average budget deficit 1969-2029. Source: CBO $1 trillion is more than six times the market cap of Bitcoin (BTC) and four times the market cap of all cryptocurrencies combined.  The data concerned Kling, who like other Bitcoin proponents has drawn clear distinctions between the cryptocurrency and fiat currency.  As Cointelegraph reported, the deficit is not the only worrying aspect of U.S. economic policy to surface in numbers in recent months. Late…

    Jan 25, 2020
  • Chart of the Day – 25 January 2020 XRP/ BTC – 5-minute

    In this 5-minute chart of Ripple / Bitcoin (XRP/ BTC), there is a depreciating range from 0.00002711 to 0.00002655. We can observe that the market then appreciated to the 0.00002697 level (identified by the red down arrow), right around the 0.00002697 level that represents the 76.4% retracement of the depreciating range. We can observe that the market then depreciated to the 0.00002677 level after encountering technical resistance and selling pressure around the 200-bar Simple Moving Average. Using RSI, we can observe that the slope of RSI (14) and the slope of RSI Average (3) turned negative after the market traded as high as 0.00002697.  We can also observe that RSI Average (3) bearishly moved above RSI (14), and that RSI Average (3) remains above RSI (14), suggesting price depreciation may continue. Using Slow Stochastics, we can observe that the slope of Stochastics K and the slope of Stochastics D turned negative after the market traded as high as 0.00002697, and that Stochastics D bearishly moved above Stochastics K.  We can also observe that Stochastics D remains above Stochastics K, suggesting…

    Jan 25, 2020
  • Japanese Officials Are Working on a Digital Currency

    Ruling party lawmakers in Japan are reportedly working on a proposal to issue a national digital currency, Reuters reports on Jan. 24. This appears to be a response to fears of a Chinese digital yuan. The planned digital yen would be jointly developed by the government and private companies, and would follow many similar initiatives around the globe. The proposal is worked on by a parliamentary group comprised of 70 Liberal Democratic Party lawmakers. The group plans to submit the proposal to the government some time in February. Deploying the digital yen will take some time due to Japan’s late start. The decision represents a cardinal change for the country, whose central bank representatives saw “no demand” for a central bank digital currency (CBDC) as late as December 2019. Libra and yuan fears fuel the decision The announcement of Facebook’s Libra and China’s digital yuan pushed central banks around the world to look into issuing their own CBDCs. This was a major discussion point at a World Economic Forum panel on Jan. 23. However, each initiative works to solve different…

    Jan 25, 2020
  • Japan may Explore a CBDC but the Rumors are Contradictory » The Merkle Hash

    Japan has positioned itself as an interesting region for cryptocurrency activity. This also means that the country may be issuing its own digital currency in the near future.  For now, there are nothing more than actual. Does Japan Even Need a CBDC? However, several domestic reports indicate that a CBDC in Japan may come sooner than some expect.  Japanese officials have indicated this form of money can be beneficial to the domestic economy.. Compared to other countries, Japan is well ahead in terms of embracing innovative technologies. That also applies to financial solutions and instruments alike. Rumor has it that this CBDC is a venture between the Japanese government and various private companies. As is usually the case with rumors, there is a lot of conflicting information. Some sources even go as far as shutting down this entire idea as being nothing more than hot air. For Japan, issuing a native digital currency is not a must at this time.  It would certainly be an interesting option to explore, assuming it does not harm the economy any more than it…

    Jan 25, 2020
  • This Eerie Fractal Shows Why Bitcoin’s Price Could Soon Crash By 20%

    Over the past week, Bitcoin (BTC) has started to show signs of weakness after a 40% uptrend in a month. Since establishing a $9,200 multi-month around seven days ago, the price of the leading digital asset has plummeted by 11% to $8,200, where it trades as of the time of writing this. Although the price drop has seemingly found a local bottom, with the selling pressure abating, an eerie fractal proposed by a top Bitcoin analyst says it’s only a matter of time before BTC falls dozens of percent from here. Ouch. Bitcoin Could Soon Plunge Dozens of Percent Over the past few weeks, Bitcoin has broken out from key downtrends, rallying by dozens of percent since the $6,400 bottom registered in December of last year. Although this has been decisively bullish price action, countless analysts have noted that the breakout we are seeing is eerily reminiscent of the infamous “China Pump” in October 2019, when President Xi Jinping’s endorsement of blockchain sent Bitcoin 40% higher. 40% higher in a day. Similarities were seen in a number of indicators, in…

    Jan 25, 2020
  • Week Two of RBI Vs. Crypto at the Supreme Court of India

    The Supreme Court of India has this week listened to further hearings in the landmark case against the Reserve Bank of India’s ban on banks’ dealings with crypto-related businesses. On Jan. 22 and Jan. 23, proceedings continued with arguments presented by Ashim Sood, the legal counsel for the Internet & Mobile Association of India (IAMAI).  In the wake of both public and industry-led petitions, the IAMAI brought a consolidated case against RBI’s imposition of a blanket ban on banks’ services to crypto businesses back in April 2018, which came into effect in July of that year.  This week, Sood appeared before court alongside Nakul Dewan, who is acting as legal counsel for domestic cryptocurrency platforms. This article draws on the extensive live reporting of Indian crypto regulatory news and analysis platform Crypto Kanoon (CK) via Twitter, as well as private correspondence with CK co-founder Kashif Raza. Embedded quotations are drawn from CK’s live summary of the court proceedings and are therefore not verbatim. Jan. 22: some key contentions As reported last week, Sood had argued against a definition of cryptocurrencies…

    Jan 25, 2020
  • Travel Platform Travala Expands Payment Options With XEM

    Travala, a service that lets its users pay for hotel stays with digital currency, has expanded its crypto payment options by adding support of NEM (XEM) tokens. The NEM Foundation and Travala.com announced the integration of XEM with the travel company’s platform, according to a blog post published by Travala on Jan. 22. As such, XEM joined over 20 other digital currencies supported by Travala’s platform, including Bitcoin (BTC), Ether (ETH), Tron (TRX), stablecoin Tether (USDT), privacy-focused token Monero (XMR) and others. Boost in revenue The move comes in the wake of Travala’s announcement that it began accepting USDT as a valid form of payment at its two million linked properties. In November 2019, Travala entered a partnership with Booking.com, purportedly allowing users to book 90,000 different destinations using cryptocurrencies. Travala’s CEO Matt Luczynski commented at the time: “This partnership allows our users to access Booking.com’s accommodation listings, as well as the listings from several other leading travel suppliers, which is a fantastic use case for our own AVA token and another huge step towards mass cryptocurrency adoption.” Following the…

    Jan 25, 2020
  • Massive 66% Rally in Ripple’s XRP Hinges On This Key Level

    XRP didn’t have the best of years in 2019. In a year when effectively all assets posted jaw-dropping gains — Bitcoin gained 95%, the S&P 500 rallied by over 30%, gold posted an approximate 20% gain — the third-largest cryptocurrency plunged 50%. In fact, all altcoins performed really poorly, as accentuated in this experiment NewsBTC covered. According to a prominent analyst, XRP’s prospects are a bit more bullish for 2020, at least if a key price level can be surmounted in the coming weeks and months. How The Third-Largest Crypto Could Surge 66% For cryptocurrency markets and news site Brave New Coin, analyst Josh Olszewicz recently released an extensive video analysis on the XRP altcoin. After pointing out that the cryptocurrency has been a strict downtrend for the past few months, he pointed to a potential bull case. This being that if XRP manages to break above $0.30, which is where the exists historical resistance according to Volume Profiles and a downtrend trend line, the cryptocurrency could rally 66% to $0.50 in the months following this event. Can XRP Break…

    Jan 25, 2020

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