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China’s Policy and Standardization Think Tank, CAICT joins the R3 Consortium

R3’s Corda blockchain platform may have secured its biggest vote of confidence yet, thanks to the China Academy of Information and Communications Technology. Announcing the massive development, the distributed ledger technology company welcomed CAICT to its global network. It said that they expect it to share the best practices on Blockchain technology while using the […]
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Ripple And R3 Power Global Remittance Worth $12 billion for Federal Bank in India

The Federal Bank in India has taken significant steps towards Blockchain implementation to improve the remittance system in India. The bank has entered into a partnership with Ripple Inc. for cross-border remittance through its network.  “For long Federal Bank has endeavoured to bring our non-resident clientele closer to their homes. Each of our digital offerings has been designed with this objective in mind,” said Srinivasan, MD & CEO, Federal Bank. R3’s Corda Platform and Remittance in the Gulf Area Federal Bank has also initiated a blockchain based plug-in developed on the R3 Corda platform. Croda is an open source blockchain platform that is built for businesses to connect through ‘smart contracts.’ The particular smart contract for Federal Bank in India is built in partnership with R3 and Digiledge. Digiledge, is a Bengaluru based blockchain firm that provides solutions to businesses through its international remittance platform built on the Corda DLT (Distributed Ledger Platform).  “This new easy-to-plug-in platform enables exchange houses and banks in the Middle East to connect their existing solutions to make seamless, real-time transactions,” said Srinivasan. Lulu Exchange, one of the leading financial services company with more than 180 branches worldwide, has gone live with this upgraded cross border remittance platform. “We are delighted to partner with Federal Bank to roll out the enhanced blockchain technology and VPA system… We are sure these new integrations will ease process and bring further operational efficiency,” said Adeeb Ahamed, managing director LuLu Exchange. The Yearly Volume of Remittance in India India retains the top spot in yearly remittance beating China, Mexico, and the Philippines and Egypt. The annual remittance in India during 2018 was estimated to be $80 Billion according to a report by the World Bank. Federal Bank handles more than 15% of the market share in remittances in India, almost $12 billion yearly. Hence, the bank will save substantially in terms of the transaction cost and time of executing transactions. “Federal Bank is an important part of the remittance eco-system to India, so, it is only natural for us to offer the latest technology to our customers and remittance partners such as exchange houses and banks,” said Srinivasan. XRP is used as a settlement or intermediate currency by both Ripple and R3. However, it is used in varying degrees by both platforms. Nevertheless, it strengthens the RippleNET which will possibly increase the rate of use of XRP in the future as well. How much do you think the bank stands to gain yearly from this partnership? Will other Indian Banks follow the Federal Bank?  The post Ripple And R3 Power Global Remittance Worth $12 billion for Federal Bank in India appeared first on Coingape.
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R3 Corda Blockchain’s Marco Polo Trade Finance Solution Successfully Executes First Transactions

Marco Polo, a distributed ledger technology (DLT) based trade finance solution powered by R3's Corda blockchain, has completed its first transaction, according to reports published March 28, 2019. Blockchain Technology has Real Use Case Per sources close to the development, the Marco Polo facilitated transactions between two Germany-based firms: Voith and KSB SE. Voith is […]
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Trustology gets $8M, Coinbase launches OTC, BTC scams Singapore investors, UNICEF invests in six blockchain startups, Klaytn partners with Watcha and Atlas, Raise partners with African Legal Network, NEM plans to work with GUBI, Blockchain Association and eToro become partners, Tokeny partners with Security Token Network, Maker Ledger launches partnership with Neufund, KuCoin partners with Shrimpy, BitMart announces partnership with CertiK, SBI Holdings partners with R3, TokenIQ teams with DealBox

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Bitfinex goes insolvent around the time of the April bubble, coincidence? No.

This is Willybot all over again. CryptoTrading claims 850mil is "seized" by officials. Bitfinex/Tether co obtain a 900mil line of credit with a 6.5% interest rate. Markets see unprecedented buying action, with Bitfinex as the leading exchange, leading to the 20k USD bubble. You can't tell me that the timing of this is all coincidence. This is the exact same thing that happened with MtGox and it's market manipulation effort to pay back its losses. On March 29, after further discussions, the representatives disclosed in a letter to the AG that the credit line had been closed and “during November 2018, Tether transferred $625 million held in its account at Deltec to Bitfinex’s account at Deltec. Ergo, Tether is not currently backed by a reserve (unless they have access to another credit line we aren't aware of, seems unlikely though). In other words a portion of this market is currently propped up by money that does not exist. So people can stop saying that this news "shouldn't impact Bitcoin", because it clearly should and will.
/r/BitcoinMarkets

XRP/USD and Stellar Lumens [XLM/USD] Price Analysis: Bear reigns as prices stagnate

The cryptocurrency market saw a roller-coaster ride over the past couple of months, and that was reflected in the prices and market caps of top cryptocurrencies. XRP, the third largest cryptocurrency, was stuck in the bear trap with no room for any bullish movement, while Stellar Lumens [XLM], which performed well at the start of the bull run, shared a similar fate to that of XRP. XRP 1 day Source: TradingView The one-day chart for XRP showed a downtrend that pulled the price from $0.517 to $0.371, while the long term support held at $0.291. The Bollinger bands moved parallelly due to the continuous sideways movement of the market. The Chaikin Money Flow indicator was below the zero line, as the capital leaving the market was much more than the capital coming into the market. The Awesome Oscillator recorded low amplitudes due to the lack of market momentum in the XRP ecosystem. XLM 1 day Source: TradingView XLM’s one day graph saw a drop in price from $0,278 to $0.138, while the long term support was at $0.074. The Parabolic SAR was above the price candles which signified that the cryptocurrency was going through a bearish atmosphere. The Relative Strength Index was closer to the oversold zone, a sign of the selling pressure being more than the buying pressure. The MACD indicator underwent a bearish crossover that caused the signal line and the MACD line to converge below. The MACD histogram was a mix of bearish and bullish signals. Conclusion The above-mentioned indicators clearly indicated that the cryptocurrency market was still in a bearish trudge and that there was no bull run in sight. This was evidenced by the significant drop in market momentum. The post XRP/USD and Stellar Lumens [XLM/USD] Price Analysis: Bear reigns as prices stagnate appeared first on AMBCrypto.
AMBCrypto

Bitfinex Allegedly Covers $850 Million Loss With Tether Funds

Bitfinex Allegedly Covers $850 Million Loss With Tether Funds The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall, according to an announcement published on April 25. Attorney General Letitia James revealed that her office obtained […] Cet article Bitfinex Allegedly Covers $850 Million Loss With Tether Funds est apparu en premier sur Bitcoin Central.
Bitcoin Central
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