News of the week

Ripple CEO: 99% Of Coins and Tokens Will Go Away

There are currently 2,147 cryptocurrencies listed on CoinMarketCap. Ripple CEO Garlinghouse spoke on this matter with PayPal CEO Schulman at 2019 FinTech Ideas Festival. The two fintech CEOs discussed a variety of interesting topics on cryptocurrencies and blockchain technology. Schulman posed Garlinghouse a question about the possibilities and prospects of integrating different blockchains like Bitcoin, Ethereum, and others together. To this, Garlinghouse replied: “There’s something like 2,000 different tokens and by definition ‘different blockchains,’ and I think that 99% of them go away”.

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Tom Lee: Bitcoin Value is $14,000

Tom Lee of Fundstrat Global Advisors thinks that the fair value of Bitcoin is $14,000. Lee also says that the old Bitcoin whales are back and have begun to buy back massively due to a shift towards positive market sentiments.

“Bitcoin had a rough 2018 and for much of 2019, it has been steadily climbing and from what we can gather, it is because there are a lot of positive things taking place. A lot of the old whale wallets are buying Bitcoin”.

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Andreas Antonopoulos: Bitcoin Will See Global Need after Future Applications Emerge

South Koreans will need Bitcoin once its as-yet-unknown applications have been developed, Andreas Antonopoulos told the ongoing Deconomy conference in Seoul. The celebrated Bitcoin educator and entrepreneur forecast a fundamental shift in Bitcoin’s presence on the world stage. The largest cryptocurrency will usurp the current fiat-based banking system, Antonopoulos said, but only after developing the next generation of use cases will the true global need for Bitcoin become obvious for the average consumer.

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Bosch and Austria’s Largest Energy Provider Develops Blockchain Fridge

Austria’s Wien Energie has developed a blockchain-driven fridge in partnership with tech giant Bosch. The new model was presented during the crypto conference in Vienna. The official release claims that the decentralized technology is used in the construction of a refrigerator for the first time.The main goal behind the project is to increase consumer interest in the sustainable consumption of energy. A blockchain solution in this case allows one to choose the source of the energy, be that a solar panel or a wind power plant. Each kilowatt used by the fridge can be traced to its origin.

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Jamaica’s National Stock Exchange to Launch Bitcoin and Ethereum Trading

It will soon be possible to trade bitcoin on the Jamaica Stock Exchange. The exchange which was founded five decades ago has inked an agreement with Canadian fintech firm Blockstation that will ‘enable live trading of digital assets and security tokens in a regulated and secured environment’. Blockstation will offer the end-to-end crypto trading platform for JSE’s network. This followed a test-run in which the broker-dealer members of the JSE participated. JSE’s subsidiary, the Jamaica Central Securities Depository, also took part in the pilot phase.

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Gazprom to Use Blockchain in Gas Supply Agreements

The head of Russia’s state-owned gas giant Gazprom, Alexey Miller, has met with Russian prime minister Dmitry Medvedev to report on the development of applications powered by distributed ledger technology. Gazprom has carried out substantive work with Russia’s state-owned bank Gazprombank, and has developed a prototype model that will enable contracts to be made automatically using blockchain technology. The platform intends to allow data sharing between all the participants of a certain contract, as well as to improve the security of data. At the initial stage, the project is planned to be tested solely by industrial customers.

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