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Global Blockchain Spending Will Grow About 89% in 2019, New IDC...

The financial sector will lead global spending in blockchain this year, according to new report from International Data Corporation. Global blockchain spending will account for almost $2.9 billion in 2019, which is an 88.7 percent increase from 2018, according to a new report from United States-based market research firm International Data Corporation (IDC). Published on March 4, IDC's Worldwide Semiannual Blockchain Spending Guide provides analysis of blockchain developments in various segments. According to the report, the financial sector will be the leading industry in terms of spending in blockchain development this year. Banking, securities, investment services and insurance services are forecasted to invest more than $1.1 billion out of the total global blockchain spending. In turn, manufacturing and distribution services are predicted to see spending on blockchain amount to $653 million and $642 million respectively in 2019. In terms of use cases, cross border settlements..

Ledger Devs Post Warning About Monero Client After User Reportedly Loses...

The Ledger developers team posted a warning on Monero’s subreddit advising users not to use the Nano S Monero app. The Ledger developers team posted a warning on Monero’s (XMR) subreddit on March 4 advising users not to use the Nano S Monero app. Apparently, a bug associated with the app had been discovered when, earlier today, user MoneroDontCheeseMe posted on Reddit a claim that he or she believes to “have just lost ~1680 Monero [around $80,000] due to a bug.” In the account, the user stated that after transferring about 0.000001 XMR from the Ledger to a view-only wallet, the user sent another 10, 200 and then 141.9 XMR. According to the report, before sending the last transaction, MoneroDontCheeseMe had about 1,690 XMR in the wallet and 141.95 XMR in an unlocked balance, which is why he or she decided to send 141.9 XMR. Still, after the transaction, the user’s wallet is reportedly showing a balance of 0 XMR. Furthermore, according to the Reddit user, the amounts sent and the transa..

Swiss Crypto Bank Warns Customers About Company Masquerading as Partner

Switzerland-based online crypto bank Dukascopy has warned clients about a “clone” company GCG Asia claiming to be affiliated with the bank. Switzerland-based cryptocurrency bank Dukascopy has warned customers that forex trading company GCG Asia is fraudulently claiming to be the bank’s authorized firm in an announcement published on Feb. 27. In the announcement, Dukascopy Bank — purportedly the first regulated bank to launch its own initial coin offering (ICO) — cautions that neither it nor any entities of Dukascopy Group have relations with GCG Asia, although the latter fraudulently claims the opposite. The warning reads: “GCG Asia is fraudulently using Dukascopy's name and logo for attracting clients/investors, without Dukascopy Bank's permission. We are taking actions against this dishonest organisation.” In January, European cryptocurrency exchange Bitstamp partnered with Dukascopy Bank, wherein Bitstamp will support Bitcoin (BTC) transactions on behalf of Dukascopy. Cus..

XRP Trends As News About A Possible Listing On Nasdaq’s Global...

As reported by smartereum.com, Coinbase Pro finally announced that it would be listing the third largest cryptocurrency per market capitalization, XRP. Since then, the entire cryptocurrency community has been talking about the possibility of Nasdaq listing XRP index the same way it listed Ethereum and Bitcoin indices. Keep in mind that Nasdaq is the second largest traditional exchange in the world. The Bitcoin and Ethereum indices the exchange just listed are powered by the blockchain company, Brave New Coin. Brave New Coin Makes Room For XRP Index The fact that Nasdaq listed Bitcoin and Ethereum indices is a big deal. Apart from the fact that it paves a way for greater adoption due to exposure, it also gives the industry a great deal of credibility from Wall Street. When BNC made the announcement yesterday, the company added that it was already in the final stage of development for the XRP liquid index. Since Nasdaq had already listed the top two indices, it would not be surprising f..

Coinbase CEO Brian Armstrong Tackles Four ‘Myths’ About Crypto Custody

Coinbase CEO and co-founder Brian Armstrong has outlined what he believes to be four common misconceptions about crypto custody solutions. Brian Armstrong, co-founder and CEO of United States crypto exchange and wallet Coinbase, has outlined what he believes to be four common misconceptions about crypto custody solutions. His article was published on Fortune’s crypto-focused segment The Ledger on Feb. 22. Cold storage refers to a method of keeping crypto holdings and users’ private keys offline in order to safeguard against theft via a remote attack. Hot storage, conversely, refers to storage on a device that has an active connection to the internet. Armstrong’s first argument tackles the perception that hot storage is always necessary to provide the flexibility and speed required to execute trades. He notes that certain platforms allow users to trade over-the-counter (OTC) using delayed settlement, meaning funds remain in offline storage until after the trade has been executed. As re..

German Government Consults Industry About Blockchain Technology

Germany is consulting companies and industry groups that could become stakeholders in the country’s blockchain development. The German government is consulting companies and industry groups that could become stakeholders in the country’s blockchain development, Reuters reports on Feb. 18. The unnamed companies and groups have reportedly been invited to supply recommendations from this week onwards. Reuters also cites unspecified government sources saying that it is still unclear if those recommendations will translate into regulation in the near future, but concrete results are currently being sought. According to the article, about 170 startups in Berlin are involved with blockchain or distributed ledger technology (DLT), and startups in the space “have said that without a legal framework, there are high entrance hurdles.” As Cointelegraph reported in January, a major global securities marketplace in Germany, Deutsche Börse, has said that it is “making significant progress” on its bl..

Ordinary Stablecoin or XRP Killer? What We Know About JPMorgan Chase’s...

JPMorgan Chase is launching its own cryptocurrency in a first for U.S. banking. On Feb. 14, United States banking behemoth JPMorgan Chase announced its own cryptocurrency. Significantly, it is the first time a major U.S. bank has tapped into digital assets for direct use in business operations. It is fair to say that move comes unexpectedly for JPMorgan Chase, whose CEO, Jamie Dimon, is famous within the crypto community for his anti-Bitcoin (BTC) remarks. Here are the main outtakes from reports and comments about the new virtual currency, dubbed “JPM Coin.” JPM Coin aims to increase settlement efficiency, initially within three of its operationsThere are three early applications for the JPM Coin, as Umar Farooq, head of the lender's blockchain projects, told CNBC. The first one is cross-border payments for large corporate clients, which currently rely on wire transfers provided by networks like SWIFT, meaning that they might take up to several working days to settle. According t..

Uncovering the Truth About Crypto Market Correlation

We are all familiar with the statements made about the crypto market, claiming that “it is highly correlated” or that “it has a correlation of 1” (especially with bitcoin); or we are often referred to the following charts of the crypto market capitalization including/excluding bitcoin. Source: CoinMarketCap People will look at the charts above and say: “they look pretty much the same, bitcoin dictates where the crypto market goes…” At a face value, when looking at the charts, it might appear that the claims are valid. The pattern we observe, however, could be deceiving. It does not tell us the entire “story” of what, actually, is happening in the crypto market. First, we should understand that “correlation” is an association measure, which is time depended. More specifically: (1) correlation measure indicates that two assets (i.e., it is measured in pairs), have some kind of a relationship or are associated with each other’s movement; (2) correlation is not causation. Sometimes pe..

Uncovering the Truth About Crypto Market Correlation

We are all familiar with the statements made about the crypto market, claiming that “it is highly correlated” or that “it has a correlation of 1” (especially with bitcoin); or we are often referred to the following charts of the crypto market capitalization including/excluding bitcoin. Source: CoinMarketCap People will look at the charts above and say: “they look pretty much the same, bitcoin dictates where the crypto market goes…” At a face value, when looking at the charts, it might appear that the claims are valid. The pattern we observe, however, could be deceiving. It does not tell us the entire “story” of what, actually, is happening in the crypto market. First, we should understand that “correlation” is an association measure, which is time depended. More specifically: (1) correlation measure indicates that two assets (i.e., it is measured in pairs), have some kind of a relationship or are associated with each other’s movement; (2) correlation is not causation. Sometimes pe..

Japanese Financial Regulator Data Shows Queries About Crypto Continues to Decrease

Japan’s financial regulator has revealed that in Q4 2018, the number of enquiries on crypto continued to decline. Japan’s financial regulator has released Q4 2018 data on the number of enquiries about cryptocurrencies, showing further declines. The Financial Services Agency’s (FSA) report was published today, Feb. 8. The FSA, which is responsible for overseeing the country’s crypto ecosystem, published the latest data on enquiries from September to the end of December 2018. The Japanese watchdog received 788 enquiries regarding virtual currencies, which is a little more than half as many as the 1,231 enquiries in Q3 2018. The report states that 235 cases, or 29 percent, involve general enquiries and questions, while 228 cases, or 28 percent, are related to the results of individual transactions. Since the beginning of the 2018, the number of enquiries has declined by almost five times from the 3,559 requests registered by the FSA during the first three months of the 2018. Back in Augu..
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