News of the Week

Bitcoin May Benefit as Goldman Sachs Predicts US-China Trade War to Continue into 2020

A note to clients sent out yesterday by Goldman Sachs states that the bank is expecting that the US-China trade war won’t be resolved before the 2020 presidential election. The yuan has been depreciating in value versus the dollar a lot of late. Such economic conditions have caused some Bitcoin analysts to speculate that the recent run-up in the value of the cryptocurrency has been caused by members of the Chinese public wanting to protect the purchasing power of their savings against the devaluing yuan. Bitcoin may benefit greatly from the continuation of the trade war and a recession following it.

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Poloniex Investors Who Lost Big in Flash Crash Receive Bitcoin Refunds

Circle’s Poloniex exchange will cover lost bitcoin funds by covering trading fees in bitcoin. Fees will be covered back from June 6 until an account is fully repaid. Poloniex’s clam margin trading market experienced a flash-crash on May 26.

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Flexa Expands Crypto Payments Service to Canada

Payment solution Flexa announced its Canadian expansion in an official blog post. Backed by cryptocurrency exchange Gemini, Flexa’s international movement is preceded by both support for cryptocurrencies litecoin and zcash and the launch of an Android beta mobile app earlier this summer. Functioning like a pipeline for commercial transactions, SPEDN processes regular purchases in cryptocurrencies like bitcoin, ethereum, bitcoin cash or native token flexacoin. Today, SPEDN is now open to Canadians on both iOS and Android. The post claims 7,500 Canadian merchants will be on-boarded by early September.

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Canadian University: Blockchain Can Solve EV Charging Trust Problem

Researchers at the University of Waterloo in Canada have used blockchain technology to improve trust in electric vehicle (EV) charging systems. This development could increase uptake and expand the overall charging infrastructure for electric vehicles.

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Dallas Mavericks Become Second NBA Team to Accept Bitcoin

The Dallas Mavericks have become the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise. Cryptocurrency adoption has been on the horizon for the Mavs since early last year, when team owner and billionaire tech investor Mark Cuban hinted that fans would soon be able to use Bitcoin to buy tickets to the team’s games. A year and a half later, Cuban’s plans have materialized and the Mavs join their NBA rivals, The Sacramento Kings, in rolling out cryptocurrency access for their fans.

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Alibaba Wants to Put Domain Name Management on the Blockchain

The China-based retail company Alibaba thinks that the blockchain is the perfect spot for logging domain name registrations. It has filed for a patent (in pdf) with the U.S. Patent and Trademark Office (USPTO) for such a system, suggesting a solution that would generate a “unified blockchain domain name” (UBCDN) containing a blockchain domain name and a linked chain identifier.

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