India's Banking Research Division Introduces Blockchain Implementation Blueprint

India’s Institute for Development and Research in Banking Technology (IDRBT) has reportedly been working with the nation’s government, financial institutions, and local firms to create a blockchain-based platform for developing various applications.
On Wednesday (January 23rd), the IDRBT announced that it had published a blueprint of its proposed blockchain-enabled platform for India’s banking industry. According to the Financial Express, the blueprint specifies a general roadmap on the adoption of distributed ledger technology (DLT)-powered systems in various local businesses.
Source: Crypto Globe

Jamie Dimon Says He Takes No Pleasure in Bitcoin Decline

The CEO of JP Morgan Chase has once again spoken about Bitcoin (BTC). Jamie Dimon, who once called the digital currency a “fraud” and later backtracked on his comments has now said that he takes no pleasure in seeing prices take a short-term crash as he stated they would.
Speaking at the World Economic Forum in Davos, Switzerland with CNBC’s Squawk Box, the CEO also lamented his preference for blockchain technology over Bitcoin.
Jamie Dimon Finds No Satisfaction in Seeing Bitcoin Prices Slide
Despite having previously vowed to never discuss Bitcoin again, the CEO of JP Morgan Chase has once again commented on the subject. This time it was to state that he was not the kind of self-indulgent sadist to take pleasure in the losses of those who had invested in the technological innovation late in 2017 or throughout 2018.
The CNBC Squawk Box reporter asked Dimon directly if he took satisfaction about being proved right (in the short-term at least) about BTC prices. He answered simply that he “didn’t take any.”
Dimon has commented on his distaste for Bitcoin many times previously. Perhaps his most famous outburst was last September when the CEO slammed Bitcoin as a “fraud” and that those who bought it deserved to “pay the price one day.” He also stated that he would fire any of his employees found to be trading it.
Amusingly enough, JP Morgan was later accused of market manipulation since it emerged that the bank was one of the largest buyers of a BTC tracker fund called Bitcoin XBT. Nothing really became of this allegation and the next time Dimon hit the news in connection with Bitcoin was to state that he regretted saying that it was a fraud since that was all people wanted to talk to him about. From then on, he vowed to not mention the world’s first viable decentralised currency again.
Jamie Dimon has a history of talking Bitcoin, despite seemingly not wanting to.
Of course, it was not long before Jamie was breaking his own promise to tell the world that he really “didn’t give a s**t about Bitcoin” and that he did not want to be a spokesperson against the digital currency. This seems in line with his latest comments on the subject that he wishes no ill will on those who had lost money on Bitcoin or that had made investments that had not paid off yet.
Dimon Continues to Favour Blockchain Over Bitcoin
Dimon’s comments on Bitcoin at Davos were short. Instead, he favoured discussion about another closely related B-word – blockchain.
JP Morgan has been interested in the technology underlying Bitcoin for some time now. In 2017, the bank began exploring ways in which distributed ledger technology could remove trust for various transactions and increase the efficiency of financial services. Since then, the Royal Bank of Canada, as well as the Australia and New Zealand Banking Group have become partners in the project.
Speaking to CNBC, Dimon stated of blockchain technology:
“Blockchain is a real technology — it’s just a database we can all access that’s kept up-to-date.”
When put like that, blockchain technology sounds incredibly dull and unremarkable. These are the very reasons people like Dimon favour blockchain over Bitcoin. Blockchain is safe, manageable, and ultimately uninspiring. Bitcoin is potentially disruptive, world-changing, and a threat to the very existence of the likes of Dimon et. al.
 
Related Reading: ECB Latest Institution to Use “Blockchain Not Bitcoin” Narrative
Featured Image from Shutterstock.
The post Jamie Dimon Says He Takes No Pleasure in Bitcoin Decline appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple (XRP) Might Be The Only Survivor During A Crypto Market Collapse

Ripple (XRP) is classified as a cryptocurrency but that is not how it initially started off as. In fact, if the cryptocurrency market were to disappear tomorrow, Ripple (XRP) might be the only coin to survive. Ripple CEO Brad Garlinghouse has pointed to this many a time during interviews and conferences that XRP will always be there even if Ripple (the company) goes down. This goes on to show that Ripple (XRP) is more than just another cryptocurrency. In fact, it is a valuable commodity like Gold that has its own inherent value that comes from its use case. Just as Gold can be used to make ornaments or tools, Ripple (XRP) can be used by bank and financial institutions for cross border payments.
Merchants who want to replace their existing payment gateways can opt for Ripple (XRP) which will make their transactions faster and cheaper allowing them to receive their payments on time while also ensuring an improved customer experience. The point is, unlike most cryptocurrencies, Ripple (XRP) has a solid use case which will guarantee its existence whether the cryptocurrency market is there or not. Even if the cryptocurrency market were to vanish overnight, Ripple (the company) would still be there and so would XRP. It would still be in the interest of Ripple (the company) to work towards mainstream adoption of XRP. As more financial institutions use XRP, we will see its price increase. At some point when it is valued in trillions of dollars, Ripple (XRP) would be better positioned to become the one world currency.

Chart for XRP/USD (1W)
The point is, Ripple (XRP) stands to gain whether the cryptocurrency market exists or not. It is open to regulation and would be more open to working with entities like the Federal Reserve or the World Bank. It would also be in a better position to ensure that local laws and regulations are followed. The reason Ripple (XRP) has gained such widespread adoption and seen a massive boost in price is because a lot of investors are of the view that cryptocurrencies like Bitcoin (BTC) may ultimately be the future but there is a lot of room for cryptocurrencies like Ripple (XRP) short term.

Although Ripple (XRP) wants to empower the status quo by helping the banks and financial institutions make their services more efficient and retain their control, the truth of the matter is that the general public is still not at a point where they care enough about Bitcoin (BTC) replacing fiat currencies. In fact, they would be glad to just see their banks charge them less and process their transactions faster. Cryptocurrencies might be the future but Ripple (XRP) is going to give financial institutions one last chance to put up a fight to maintain their status quo. Even if the banking industry were to revolutionize and we shift towards a peer to peer economy, Ripple (XRP) is still likely to have a future given its cheap and fast transactions.
Source: Crypto Daily

Monero’s Anti-ASIC Policy is Also Harming Botnet-Based Miners

On the most recent episode of Monero Talk, host Douglas Tuman spoke with King’s College London Assistant Professor Guillermo Suarez-Tangil about a research paper (PDF) he co-authored with the University Carlos III of Madrid’s Sergio Pastrana about the degree to which malware is involved in the crypto asset mining ecosystem. Their paper estimates that at least 4.32% of all Monero in circulation has been mined through the use of malware.
During the interview, the discussion turned to the reasoning behind criminal hackers’ decision to mine Monero over other crypto assets. While Monero’s ASIC-resistance and privacy features are noted by Suarez-Tangil as attractive attributes for malware-based miners, he also added that a more recent policy around hard forking the proof-of-work (PoW) algorithm used in Monero has caused some problems for those who mine via botnets.
Why Do Criminal Hackers Mine Monero?
Mining Monero is a useful option for black hat hackers who have access to large numbers of other people’s computers because other crypto asset networks, such as Bitcoin, allow for the creation of specialized hardware that are orders of magnitude more efficient for specific hashing algorithms than what’s available in a normal desktop computer.

“Bitcoin, for example, was a theme several years ago, but . . . some of these big hackers started developing dedicated hardware to mine these things,” explained Suarez-Tangil. “I guess if you control a very large botnet of like medium-sized PCs, you are not able to compete with people mining bitcoin in one of these farms or using GPUs or using more advanced hardware.”

Suarez-Tangil specifically pointed to Monero’s somewhat recently implemented policy of hard forking the PoW hashing algorithm in response to the existence of ASICs focused on mining the crypto asset. These new ASICs, of which bitcoin mining giant Bitmain was a manufacturer, effectively became worthless bricks overnight.
Suarez-Tangil also mentioned that Monero has become a more widely-used form of money in the criminal underground, which means those who mine the crypto asset are able to use it to trade for other goods and services on these online black markets.
The Problematic Hard Fork Policy
Although Monero’s hard fork to change the PoW hashing algorithm last year was aimed at kicking ASIC miners off the network, the upgrade also had a negative effect on botnet-based miners. According to Suarez-Tangil, the criminal hackers who had rented out services from those who provide access to various botnets were forced to make additional payments in order to update the Monero-mining malware on victims’ computers.
“They need to pay the botnet owners to update their machines,” said Suarez-Tangil.
Suarez-Tangil added that the “big fishes” are still able to operate under these conditions as they have the required infrastructure to do so.
According to Suarez-Tangil, it would be possible to implement methods of making Monero more botnet-resistant in the future, but this would require mining pools to more closely monitor the activities of their users.
Source: Crypto Daily

Nasdaq CEO Is Bullish About Bitcoin

Just before the World Economic Forum started at Davos this week, the President and CEO of Nasdaq, Adena Friedman called the invention of crypto “a tremendous demonstration of genius and creativity.”
The company [Nasdaq.inc] was founded in 1971 and owns the Nasdaq stock exchange, which is the second biggest stock exchange in the world by market capitalisation as well as the Nasdaq Nordic, Nasdaq Baltic and “several US stock and options exchanges.”
The CEO of Nasdaq discussed cryptocurrencies in a recent article she posted on LinkedIn with the title “New chapters in innovation and disruption will be written in 2019″.
To start off the article, Friedman said that she could “see several trends that will continue to shape our markets and the broader economic landscape in the year ahead.” With this in mind, we’re going to take a look at the CEOs article and some of the key references she makes to cryptocurrencies.

“With several thousand competing cryptocurrencies vying for investor attention, the world of ‘crypto’ has gone through the first phase of the classic invention lifecycle, marked by early pioneers, followed by hype, followed by proliferation of newcomers and then a dose of reality.”

She continues to say that there will be two outcomes next:

Either “the innovation finds practical utility followed by years of steady and sustainable commercial progress and integration into the economic fabric (e.g., the Internet).

or

The ” invention fails to achieve broad adoption and its commercial applications as medium of exchange are limited (e.g., the Segway).”

Friedman admits it is difficult to ignore the mass of investors and global investors that have flooded in over the past few years. Continuing, she says “the invention itself is a tremendous demonstration of genius and creativity, and it deserves an opportunity to find a sustainable future in our economy.”
One could argue that there are two main parts to bringing in practical utility and more stable value of governance and clarity “both of which are antithetical to the original intent as a decentralized, ungovernable global currency.”

Freidman goes onto say that there is a level of fairness and transparency with exchanges “and without some level of oversight and regulation, it is not possible to demonstrate a level of transparency and fairness that will build trust.”
Adding on to this, Freidman says:

“At Nasdaq, we are working to help cryptocurrencies gain investors’ trust by offering our technology for trade matching, clearing, and trade integrity to start-up exchanges. We have also invested in ErisX, an institutional marketplace for cryptocurrency spot and futures.”

Even though there is a lot of hype surrounding 2019 to bring something positive to the persistence bear market in the cryptocurrency space, at Nasdaq, they believe Bitcoin and altcoins “will have a role in the future.” But it’s role will all rest “on the evolution of regulation and broader institutional adoption.”
You can read the full article here.
What are your thoughts? Let us know what you think down below in the comments!
Source: Crypto Daily

How You Can Trade Profitably With Bexplus

This time last year, Bitcoin reached its all-time high price. Since then, however, bitcoin has declined by more than 80% in price. BTC speculators or investors aren’t tiring of bitcoin, however. A lot of people that missed out on the late 2017 and early 2018 price hike, jump into the crypto world, expecting to make a fortune when it hits its former levels. In the following, we explore 3 types of profitable BTC investment.
Source: Crypto Globe

Bithumb Could Become First Publicly Traded Crypto Exchange Co. in the US

Blockchain Industries, Inc. (BCII), a holding company that trades publicly on US over-the-counter (OTC) markets, has announced its plans to “merge with” Singapore-based firm, BTHMB Holdings Pte. Ltd. The merger is part of an initiative that involves listing cryptocurrency exchange, Bithumb as a publicly traded company in the US. The “binding letter of intent” (LOI) to merge both business entities was reportedly signed on Tuesday (January 22nd). According to the LOI, the “anticipated merger” is scheduled to be finalized “on or before March 1, 2019.”
Source: Crypto Globe

Ethereum (ETH) Is On The Verge Of A Massive Comeback Against Bitcoin (BTC)

Ethereum (ETH) is on track for a massive comeback against Bitcoin (BTC) in the weeks ahead. The 4H chart for ETH/BTC shows that the price has just broken out of a falling wedge and is currently trading sideways before its next big move. It is pertinent to note that the price is very closely to the 21 EMA and could climb above it any time now to stage an explosive rally. Recent developments have hindered the near term prospects of Ethereum (ETH) but the future looks brighter than ever. All of a sudden we have seen statements regarding the future of Ethereum (ETH) and whether or not it is going to zero surface again, but all of this is nothing more than short term speculation.
Certainly, Ethereum (ETH) may not be able to enjoy the same level of dominance that it did in the past. It will have to cede some space to new players in this industry that are fast becoming direct competitors of Ethereum (ETH) and promise a lot of better alternatives. Whether or not they will end up pushing Ethereum (ETH) down the list is another debate, one which we may not have to worry about in the near future. This is no different than debating whether Yahoo or Google might eventually come up on time. In the early days, a lot of people would have said Yahoo but we all know how that turned out. Yahoo did very well for a long time but Google ended up as the ultimate winner.

Similarly, Ethereum (ETH) has a distinct advantage as being the first platform cryptocurrency and it is going to benefit from that. The number of developers working on Ethereum (ETH) is a lot higher than most other platforms and they are also more experienced and far ahead of most blockchains. However, as we have seen in the past people eventually come up with better alternatives and the competition grows. The same is going to happen in this space and someone is going to end up on time. We do not know yet if it will be Ethereum (ETH), Zilliqa (ZIL), Cardano (ADA) or Ethereum Classic (ETC) but it does not matter much at this stage. Ethereum (ETH) as well as most other cryptocurrencies have been long overdue for a major rally against Bitcoin (BTC) and they are going to get it as soon as things normalize.

Ethereum (ETH) is also better positioned for a strong rally against the US Dollar in the weeks ahead. The weekly chart for ETH/USD shows that the correction has now come to an end and the price is consolidating before its next big move. It is important to note that ETH/USD is at a very favorable point from a risk/reward standpoint. This platform coin has a lot of room for growth in the years ahead when corporations like Microsoft, Amazon and Google will start using the Ethereum (ETH) blockchain for their products and services. 
Source: Crypto Daily

Margin Trading During the Crypto Winter

Margin trading has seemed to become the catchphrase of this crypto winter. The essence of leverage is that it’s just a loan. Users can borrow funds from a platform via margin trading that is several times the amount of their own assets so that they can profit on a bigger scale if the market moves in their direction. However, it is of course worth noting that while users amplify their transaction amounts and obtain higher returns, the risk also goes up in the same way – as they can lose money more easily.
Source: Crypto Globe

EOS On The Verge Of A Breakout, Big Updates Looming

As we can see EOS is seeing some very positive movements of late, granted the price of EOS is currently very low, some might even say that at the moment, 1 EOS token is an absolute bargain given that during the spring of 2018, EOS reached an all time high of over $21.00. Prior to this, EOS registered a price of $4.34 proving that as it stands, surpassing the $20.00 threshold is still within the grasp of EOS and a big bull run could be all EOS needs to actually set a new all time high in 2019.
Of course, you should consider this as speculation. We can’t guarantee that EOS will embark on a surge and if it does, there is no way to measure how likely it is to move past $20.00. Therefore, do not use this as justification for your next EOS investment, instead, use it to inform your own research into the area. Find the facts and draw your own conclusions, this is the only way you can become a better investor!
What is driving EOS at the moment?
Okay, so we have seen that EOS has gained some gentle momentum, this is exactly what happened when EOS spiked last time. EOS started to move away from the overall market trend and began to climb on it’s own, pulling the rest of the markets with it. As a matter of fact, the last EOS surge encouraged Bitcoin to almost tip $10,000.00. The rise we have seen recently does stand out against the market trend, given that generally the markets have been in a decline through January. EOS is gaining momentum, finally!
There’s no lone trigger for this climb, it seems that this seems to be a combination of correction and a bit of a positive feeling towards EOS as a cryptocurrency and a project. This feeling is of course encouraged by some positive announcements from within the EOS community, announcements that are helping to spread the word of EOS and likewise, that are helping investors begin to feel a little more bullish about the whole thing.
As per a recent report by The Merkle, such positive movements have come via Boscore, the launch of a smartphone EOS block explorer and through input from some industry experts
Boscore
The Boscore network has launched an interchain communication function between BOS (the Boscore network) and EOS. This acts as a sidechain that allows EOS to move onto the BOS mainnet, or otherwise, BOS to the EOS mainnet. THis is positive, as it opens up options for new cross chain transactions to be made between EOS and BOS too, meaning the ecosystem is set to facilitate other tokens in the near future. It seems that BOS is the first network to work alongside the EOS mainnet in this way and therefore, many believe that Boscore have laid foundations for an entirely new culture of cross chain transactions within EOS.

Cypherblock
Recently, Cypherblock.io have announced the launch of an EOS based block explorer for smartphones. This comes in the form of an application that allows followers of EOS to watch and trace transactions, improving the transparency of the network and of course the decentralisation of the entire project. According to The Merkle:

“It appears a new mobile EOS block explorer application has been released recently. Although not everyone will have a use for tools like these, one has to commend the Cypherblock team for trying its hand at bringing this application to market. This is another strong sign of how the EOS ecosystem continues to grow by leaps and bounds, which is what most investors and holders should be concerned about right now.”

Of course, this is a very specific tool and one that probably won’t be adopted by the entire EOS community, but it does seem that this announcement has had a positive impact on the EOS community on the whole.
Brendan Blumer
Finally, Brendan Blumer, the CEO of block.one, the company behind the EOSIO development has recently spoken out about how impressed he is with the EOS project overall, installing quite the wave of optimism within the community:

“Branden Bulmer is quite impressed with how EOS is growing across the board. New applications, sidechain-esque solutions, a growing user base, and an increase in transaction numbers are all very promising signs first and foremost. At the same time, one has to wonder how long this rate of growth can be sustained. Attracting people who are not involved in cryptocurrency yet remains a key challenge for any projects at this time.”

Blumer took to Twitter to state:

“It’s incredible to see EOS growing like this; the apps, daily active users, transaction numbers and speeds, wallets, and support tools are all revolutionary and radically decentralized.”

Positive movements from in and around the EOS camp are having a big impact at the moment. Only time will tell when it comes to the next EOS surge, however we do hope to see one soon. EOS has the power to move the markets and therefore is EOS does embark on a bull run, we should expect to see the rest of the markets following suit. Of course, EOS probably won’t hit $20.00 any time soon, but let’s remember that it’s historic trends suggest that at the very least, EOS does have the capacity to climb this high once again in the (hopefully) not so distant future.

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Source: Crypto Daily