Blockchain-Powered App Helps Mongolian Herders Trace Cashmere

Startup creates blockchain-powered mobile app to track and certify sustainably produced cashmere from Mongolia. Toronto-based startup Convergence.tech has successfully concluded a blockchain-based pilot to help Mongolian nomadic herders track and certify sustainable cashmere. The supply chain project, which was conducted with the United Nations Development Program (UNDP), is powered by Convergence.tech’s Ethereum-based traceability platform, Backbone. Convergence.tech chose to focus on cashmere herders for its pilot, as many of these individuals face harsh working conditions and income instability. Moreover, the fashion supply chain lacks transparency, making it difficult for consumers to…

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New Data Suggests Bitcoin and Gold Aren’t as Correlated as You Think

Bitcoin price increased amid rising tensions in the Middle East earlier this week but is BTC’s recent correlation to gold price supported by the data? Bitcoin’s (BTC) classification has been a controversial and difficult topic for crypto-enthusiasts, investors, and regulators to reach a consensus on. The digital asset has been compared to a currency, a commodity, an investment asset or even said to have no underlying value. However, from the perspective of regulators, Bitcoin has been mostly associated and studied as a commodity, especially in relation to gold. In fact,…

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Experienced Traders Prefer to Trade on Desktop Computers, New Study Reveals

A new survey conducted among 800+ traders reveals that the majority of crypto traders love the simplicity of trading on desktop computers. Cryptocurrency exchanges are used by cryptocurrency holders to store their crypto assets or to trade cryptocurrencies. There are hundreds of exchanges available today, and it can be difficult for cryptocurrency holders to choose which exchange best suits their needs. In fact, most traders use more than one exchange — both to hedge risk and to minimize benefits. How do traders make their decisions? Below, you’ll find some interesting…

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Bitfinex Market Manipulation Lawsuit Refiled in New York and Joined by Second Case

A class-action lawsuit against Bitfinex and Tether was refiled in New York on Jan. 8, just one day before a similar filing by another plaintiff. An Oct. 10 class-action lawsuit filed against iFinex Inc., the parent company of Bitfinex and Tether, was refiled on Jan. 8 in New York’s Southern District. The lawsuit by Young et al. was followed on the next day by a similar class-action filing by Bryan Faubus. The original lawsuit alleges that iFinex manipulated the cryptocurrency market in 2017 by issuing unbacked Tether (USDT) that was…

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Ethereum 2.0 Will Come in 2020, According to ConsenSys Co-Founder

ConsenSys co-founder Andrew Keys published an optimistic set of predictions for Ethereum in 2020, but others disagree with his assessments. Ethereum’s Serenity will launch by the end of this year, according to ConsenSys Co-founder Andrew Keys. Given the current state of development though, few share his excitement. In a Jan. 7 post published on the ConsenSys site, Andrew Keys shared his predictions for 2020. Keys was one of the co-founders of ConsenSys, having since become a managing partner at DARMA Capital. While Keys’ predictions touched diverse themes ranging from the…

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Facebook’s Zuckerberg Calls for Digital Community Self-Governance

Facebook CEO Mark Zuckerberg says the digital world needs governing, pointing toward government regulation but also community self-governance as potential solutions. Facebook CEO Mark Zuckerberg said the digital world needs oversight, mentioning government regulation as a potential solution but calling community self-governance “another and perhaps even better way.” “One of the big questions for the next decade is: how should we govern the large new digital communities that the internet has enabled,” Zuckerberg said in a Jan. 9 Facebook post. A post for the coming decade In a rather lengthy…

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Bitcoin Price Ready for Next Move Up After Rebound Above $8,000

Bitcoin price rebounded over $8,000 earlier today snapping a 3-day losing streak and placing the asset in a good position to test the $8.6K and $9K levels next. On Friday Bitcoin (BTC) price reclaimed $8,000 as bulls appear to be setting their sights on a second go at the weekly high at $8,473. Earlier in the week, crypto-media speculated that the price run-up to $8,473 was fuelled by fear of a war breaking out between the United States and Iran. Then, as the price pulled back after U.S. President Donald…

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Bithumb Pledges $8M to South Korea’s ‘Regulation-Free’ Blockchain Zone

South Korean cryptocurrency exchange Bithumb has pledged to invest roughly $8 million into the Busan blockchain zone. The region was recently declared “regulation-free” by the national government and modeled after the Switzerland town of Zug. Bithumb’s subsidiary GCX Alliance will discuss the preliminary plans with the Financial Services Commission (FSC) this month. Also read: Mining Giant Canaan Faces Stiff Competition After IPO Shares Slump Bithumb Joins South Korea’s Blockchain Coalition in the ‘Regulatory-Free’ Zone in Busan On December 30, 2019, news.Bitcoin.com reported on the South Korean exchange Bithumb when the…

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2019 Bitcoin Transaction Volume Moved Away From US in First Since 2013

The U.S. is no longer the top recipient of U.S. dollars in Bitcoin as Singapore took the lead over the course of 2019. For the first time since 2013, the U.S. is no longer the top recipient of Bitcoin (BTC) as valued in USD, as Singapore took the lead over the course of 2019. As of Dec. 5, 2019, global users sent BTC valued at $8.58 billion to Singapore in 2019, according to analytics site Crystal Blockchain. Users in Singapore received more dollars via Bitcoin last year than anywhere else…

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Thai Stellar-Based Startup Lightnet Raises $31M to Replace SWIFT

Thai Stellar-based blockchain startup Lightnet raised $31.2 million in a Series A funding round led by major financial conglomerates in South East Asia. Thai Stellar-based blockchain startup Lightnet has raised $31.2 million to boost cross-border payments in Southeast Asian countries. The Bangkok-headquartered firm has completed a Series A funding round led by major financial conglomerates in the region, Singaporean United Overseas Bank (UOB) and South Korea’s Hanwha Investment & Securities, Business Insider Malaysia reports Jan. 10. Stellar blockchain is used to replace “inefficient” payment systems like SWIFT Implementing the Stellar…

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