The implementation of digital currency technology across the banking and financial sector is in full swing. Blockchain, the underlying technology of Bitcoin and other cryptocurrency protocol act as a distributed ledger recording all the transactions happening across the network. The same technology is now being implemented in other sectors to facilitate movement of financial assets and maintenance of records. Digital currency and blockchain technology offer a wholesome solution to businesses. The advancement in blockchain technology has made it possible for companies to be registered on the distributed ledger, with the management structure and board information recorded on a blockchain platform along with the identities of every person involved in the…
We’ve come to the end of the week for our daily bitcoin price analysis, and it has been quite an interesting group of sessions. After the initial sharp movement we saw last Sunday, and the follow-through heading into Monday morning’s session, price settled somewhat, and we saw some sideways trading midweek. Yesterday we saw a brief return to the upside, and managed to get in and out the markets to draw a decent profit from the volatility, and overnight we did the same. It’s now the beginning of a fresh session out of Europe, and we’re looking to get into at least one more trade in an attempt to draw a final profit from the market before the weekend starts. So, with this in mind, and as we head into today’s session, what are the levels we are watching in the…
The relationship between Bitcoin and Australia has been a roller coaster ride so far. There have been ups and downs, but now the country’s premier research institution, CSIRO (Commonwealth Scientific and Industrial Research Organization) intends to conduct an in-depth study of the digital currency technology to analyze the possibility of its implementation in different financial and industrial sectors. The announcement by CSIRO comes amidst the ongoing brouhaha about the Australian Computer scientist, Craig Wright being the real Satoshi Nakamoto, the founder of Bitcoin. The investigation into Blockchain technology, the distributed ledger technology that powers various cryptocurrency networks is expected to go on for about 9 months. According to Australian…
The giant has finally woken up; China has entered the blockchain race. Apart from the banking consortium and the Hyperledger project that have respectively brought the banking sector and tech companies together, we now have one more blockchain alliance, originating from China. China is already playing an important role in the global economy, bitcoin mining, and even the global power balance. Now, with the blockchain alliance, the country will be innovating on par with other international players, except that the innovations may be more region specific than being on a global scale. The Chinese blockchain alliance, nicknamed ChinaLedger has been created to develop and implement the distributed ledger technology into the country’s financial machinery. The…
A lot of people active in the Bitcoin world will have heard about the recent investment in Digital Currency Group by Western Union. This news has caused a lot more questions than answers, although it seems DCG has added some new advisors to their board who will help shape the future for Bitcoin and blockchain. The New Digital Currency Group Advisors Although there has been a lot of focus on the investment made by Western Union and other players, the bigger news is how Digital Currency Group has added several new advisors to their team as well. Expanding the board of this six-month-old business will help strengthen their business model, as they want to pivot the focus from Bitcoin to the blockchain. The two new board members who are officially named are Glenn…