Do Banks Even Want to Go Blockchain?

On June 18, Carlos Torres, CEO of Spanish bank BBVA, declared that blockchain is “not mature” and faces major challenges. During the past month, blockchain’s effectiveness and maturity were also questioned by players as big as the Bank of Canada (BoC), the Russian Central Bank, and DNB, the Central Bank of the Netherlands. While blockchain can indeed improve the effectiveness of cross-border payments and cut the costs by eliminating the…

Analyst Predicts Bitcoin Price Rebound Above $10000 by 2019

Todd Gordon, founder of TradingAnalysis.com predicted Bitcoin (BTC) to drop to $4,000 prior to a rebound above $10,000 by 2019 on CNBC’s Stock Draft June 22. Gordon suggested that BTC will drop below $5,000, subsequently hitting $10,000 by the end of the year, citing significant market volatility to be the main reason. When asked to explain his estimates, Gordon cited a “beautiful uptrend,” and called the recent correction down from…

Walmart Awarded Patent for Blockchain-Based Medical Records System

U.S. retail giant Walmart has been awarded a patent for a system that would store medical records on a blockchain from a wearable device, according to a patent filing published by the U.S. Patent and Trademark Office. The system, according to the document, will allow medical professionals to retrieve medical data from a patient that is unable to communicate. The patient’s medical records will theoretically be stored on a blockchain,…

Bitcoin, Ethereum Slide Back in to Red as Market Reacts to Japanese Regulation, South Korean Tax Confusion

The cryptocurrency market has swung violently back into the red due to a series of regulatory movements from Asia, spooking skittish market participants. Bitcoin and Ethereum plummeted by almost 10% as Japanese regulators crack down on exchange action. Crypto markets are bleeding red subsequent to a Japanese financial watchdog move that saw business improvement orders issued to six of the largest Japanese cryptocurrency exchanges. The orders will force BitFlyer, QUOINE,…

Bitcoin Declines To 4-Month Low Amid Technical Pressure

Bitcoin prices fell to a four-month low below $6,100. Shutterstock The price of Bitcoin fell to its lowest in more than four months today, losing value as it suffered from technical selling. The world’s largest digital currency by market value declined to as little as $6,081.09 on the CoinDesk Bitcoin Price Index (BPI). At this level, Bitcoin was at its least since February 6, and it was down more than 9% in…

Mobile Meets Blockchain And The World Moves Again On Its Axis

The etymology of ‘blockchain-washing’ can probably be tracked back to a Gartner report at the end of 2016, when the phrase was used to describe the practice of putting blockchain in front of an existing product to make it more relevant and ‘modern’. Whether it’s a startup looking for an investment or a listed company on a stock exchange changing its name to include blockchain,  blockchain-washing has become widespread in the…

Will Bitcoin Blow Up The Internet?

This is not a theory from some apocalyptic wingnut. It’s a recent observation of the Bank for International Settlements, a Switzerland-based central bank for other central banks. If blockchain-based technologies and cryptos are used on a large scale, particularly for processing transactions, the BIS predicts it will overwhelm the current capacity of the net. It’s like flooding a reservoir with so much water that the dam bursts. “The associated communication…

Bitcoin tumbles after Japan watchdog orders exchanges to beef up practices against money laundering

Bitcoin prices fell more than 5 percent on Friday after Japan’s financial regulator ordered several cryptocurrency exchanges to improve their practices against money laundering. div > div.group > p:first-child”> The digital currency traded at $6,349 as of 7:45 a.m. ET, breaking below $6,400 for the first time in about a week, according to CoinDesk. The order from Japan’s Financial Services Agency led bitFlyer — the largest crypto exchange in the…

Fur Real? Businesses Test CryptoKitties-Inspired Ethereum Tech

Sure the cypherpunks love CryptoKitties, but it turns out luxury fashion brands are also taking a shine to the digital fluffballs. Or at least, they’re into the technology behind the ethereum-based decentralized application that captured the hearts and minds of crypto enthusiasts in December of last year. According to French startup Arianee, which boasts former employees and advisors from luxury brands such as Tiffany’s, Omega, Balenciaga and the Richemont group, the…

Bitcoin Eyes Bear Revival After Key Support Breached

Bitcoin’s (BTC) bears may be building for a strong comeback, having pushed prices to a eight-day low below $6,300 earlier on Friday. The price fell to $6,286 on Bitfinex at 09:50 UTC, the lowest level since June 14, and, at press time, was changing hands at $6,326, down around 6 percent over 24 hours. As discussed yesterday, the cryptocurrency’s persistent failure to scale the $6,800 mark in a convincing manner had…