Bahrain Central Bank Launches New Blockchain Initiative

The Central Bank of Bahrain (CBB) the governing bank within Bahrain have recently announced a new blockchain initiative that aims to set up a regulatory ‘sandbox’ that will allow new and existing blockchain and crypto based companies to work in the country, once new regulations have been established at a government level.
During December 2018, the CBB did publish a proposal that suggests the CBB would look to regulate cryptocurrencies with the view to ensure that the country became open to more industrial crypto-engagement. This also suggested that the CBB would issue licenses within their regulations. The new sandbox initiative launched by the CBB seems to continue this proposal and provides a real framework within which these regulations can exist. For now, we believe the CBB will be allowing crypto companies to operate in Bahrain for the next nine-months on a trial basis.
Dalal Buhejji, the Business Manager for Bahrain’s Economic Development Board has said that:

“This sandbox will allow businesses to test their solution on a limited number of users, with a limited number of transactions.”

So far, it seems 28 companies have been approved and will be setting up their own trials within Bahrain during this nine-month experimental period, one such firm is SprinkleXchange, a blockchain based IPO platform based in New York.
Furthermore, according to Coin Telegraph:

“The bid to attract blockchain talent to the country comes as Bahrain’s economy strives to offset mounting debt in the aftermath of a slump in crude oil prices in 2014. Last year, the country’s allies pledged $10 billion in aid to support its ailing economy — the smallest of the six members of the oil-rich Gulf Cooperation Council.”

This is a very significant move for the CBB and promises to ignite a new sort of industry within Bahrain, one that is crypto-centric and one that is no doubt able to make a lot of money. Should this nine-month trial period go well, we expect to see solid regulations imposed that will allow more companies than ever before to kickstart blockchain operations within Bahrain, opening up the industry to the masses and putting Bahrain in the running as one of the most important and prolific blockchain hubs in the world. With CBB issued licenses available, this could have a very big impact on the mainstream adoption of cryptocurrency indeed and could even spur on some retail level investment.
Source: Crypto Daily

Settlement Accounts Reached By Ripple Partner FairFX

The global payments services provider, FairFX has been up and running since 2007 and they have recently announced that they have been granted access to settlement accounts with the Bank of England. In addition to this, FairFX has become a direct partner of the UK’s Faster Payments Scheme.
Ever since its creation, the UK’s Faster Payment Scheme has been quickly growing because it is the only real time, round the clock service that is seeing a continuous increase in demand with respect to business as well as personal customers. In addition to this, the company’s direct connection to the Faster Payments Scheme has been enabled by the New Access Model that extended access to the RTGS accounts held at the Bank of England.
Ian Strafford-Taylor is the CEO of FairFX who said this on the matter:

“Obtaining direct membership of the Faster Payments Scheme together with settlement accounts at the Bank of England represents a major step in the progression of FairFX Group. This development is in line with the Group’s strategy to streamline the payment supply chain, deliver lower payment processing costs, improve customer experience and facilitate product iteration.”

The growing effort of the FPS is to inject more competition which will help keep growth up in the payments space. Change in this is sector has been overdue for a long time now so this is good news.
In addition to this, FairFX can now directly settle payments with other members of FPS and it is eligible to join other payment schemes in the UK such as CHAPS and BACS. Last year alone, FairFX processed more than a million FPS transactions but after the partnership and its inductance into the FPS which will now be able to process these transactions in real-time.
Last summer FairFX partnered up with Ripple as well as four other big firms from across the globe including, RationalFX, UniPAY, Exchange4Free and MoneyMatch. The blockchain solution xVia, is what these companies would be using.
The API solution enables payment originators to access and experience the benefits of RippleNet. For those that don’t know, the originators are the people that send payments on behalf of a customer or client.
The API solution will mean faster transactions into new markets and lower operational costs. In addition to this, speed is increased and a end to end visibility over a payment’s journey is available.
Source: Crypto Daily

New eToro Survey Shows Millennials Have More Faith In BTC Than Fiat

eToro is a massive social media platform which has just released the results of a market survey which shows that more than 40 percent of online traders who are classed as millennials don’t have as much ‘faith’ in the performance of the traditional stock market in comparison to the crypto market.
Just over 70 percent of the millennials who responded to eToro’s survey said that they would invest “in crypto if it was offered by traditional financial institutions.” Some of the other notable results from the trading firm’s poll included “half of online investors expressing interest in a crypto allocation in their 401k plans.” For those that don’t know, in the United States, a 401k is a retirement savings plan (pension) which is sponsored by an employer. The plan allows employees to “save and invest a piece of their paycheck before taxes are taken out.”
In eToro’s press release, the firm did a countrywide survey of 1,000 online traders and showed that 77 percent of Generation X respondents “trust stock exchanges more” than a crypto asset-related investment of emerging markets or alternative markets.
The managing director at eToro, Guy Hirsch said:

“We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges. At the heart of this change are the asset classes themselves. Younger investors’ experience with the stock market has seen a great deal of loss of trust, with the fall of Lehman Brothers because of irresponsible practices followed by the worst recession since the Great Depression.”

Hirsch went on to express his confidence in the ‘immutability’ feature of blockchain tech. Explaining, he said that distributed ledger technology-based systems will allow companies to conduct real-time auditing in an effective way, in terms of cost. Hirsch says that this is why Generation X and millennials believe cryptocurrency exchanges are “less likely to be subject to manipulation and less likely to be a place where bad actors get rewarded with taxpayer money.”
In some other research executed by the eToro’s survey suggested that some of the younger investors had more faith in cryptocurrency investments rather than traditional stocks. More notably, eToro’s nationwide poll of US-based investors found “even among millennials that [said they] don’t trade crypto, one-third said they would trust crypto over the stock market.”
Source: Crypto Daily

How EOS & LTC Are Spearheading The Market

Following the short bull run that occurred over the past few days, many members of the community expected the markets to once again see losses but instead, they were pleasantly surprised.
Despite all the pessimism, the markets are continuing to see green and it seems that EOS and Litecoin are leading the herd.
In addition to this, the market cap for all cryptocurrencies has reached a six week high of $136 billion as a further $3 billion came flooding into the crypto space over the last 24 hours. The two main cryptocurrencies that are dominating the space is EOS and Litecoin which are currently in fourth and fifth place according to CoinMarketCap, respectively.
EOS
EOS has been doing very well recently although it’s hard to pin down what exactly the cause of this other than the fear of missing out. At the current time of writing EOS is worth $3.86 following a 6.65 percent increase and has a market cap of $3,499,453,446.
A number of community and developer events have been keeping things afloat for a while now as well as the increasing number of dApps on the decentralised platform. Even so, the momentum is most likely based on the actions of Bitcoin as it is tantalisingly close to the $4,000 key resistance level.
Litecoin
The fifth largest cryptocurrency in the space is Litecoin which is also keeping its momentum going as this small bull run continues. Over the past 24 hours, Litecoin saw a 5.70 percent increase leaving it with a price of $51.32 and a market cap of $3,197,949,037.
The market gains saw Litecoin’s market cap go over $3 billion which is the first time in over three months and it secured it in fifth place just $400 million behind EOS. Ever since the lows of 2018 where LTC was $23 during December’s ‘big dump’, Litecoin has recovered an impressive 122 percent to its current levels. This has outperformed Bitcoin by a mile and makes LTC one of the top of crypto assets.
So will Litecoin and EOS continue to fly high? Only time will tell however if things keep going the way they are then the crypto space is in for a treat.
Source: Crypto Daily

Bitcoin Gets Positive Boost In Wyoming

According to recent reports, the state of Wyoming in the United States have agreed to a number of new bills and legislation that have been developed in order to make the state more Bitcoin friendly and more crypto-centric. Officials in the state want to make their area a hub for crypto and blockchain technology and understand that in order to do this, they need to have a set of clear regulations that allow businesses to operate within the industry in a fair and controlled manner.
A new bill, known as SF0125 was approved by the Wyoming House of Representatives last week. SF0125 agrees that digital assets such as cryptocurrency and Bitcoin are property and that therefore, banks in the state are now clear to go ahead and act as crypto custodians for their customers. In short, the bill allows for the mainstream adoption of cryptocurrency assets through traditional banking streams It seems that in Wyoming, a huge majority of representatives are clear that blockchain technology is a good thing, with the bill being passed by a vote of 54 to 2. Representatives found little competition against this bill.
More about SF0125
According to Coindesk, there are a number of key factors that stand out within the bill:

“The bill defines a digital asset as a representation of economic, proprietary or access rights that is stored in a computer readable format, and includes digital consumer assets, digital securities and virtual currency.”

The official wording of this is as follows:

“Digital consumer assets are intangible personal property and shall be considered general intangibles, as defined in W.S. 34.1‑9‑102(a)(xlii), only for the purposes of article 9 of the Uniform Commercial Code, title 34.1, Wyoming statutes.”

Last week, a couple of other bills, namely HB0074 and HB0185 where also passed last week that refer to regulations on security tokens and also refers to some regulations surrounding blockchain based startups within Wyoming. HB0074 respectively is giving new businesses in Wyoming access to special banking services that will allow them to better manage and handle their cryptocurrency:

“HB 0074 creates special purpose depository institutions to serve businesses which may not be able to access traditional banking services, including blockchain businesses.”

Overall this is a very exciting move that really does promise to open up Wyoming to becoming a very blockchain-centric state. The US is generally bullish about Bitcoin, however it looks like Wyoming could be looking to really lead the way with this in teaching its neighbouring states how it’s done.
Source: Crypto Daily

Buterin Shot Down After Trying To Get ETH Logo On Google Keyboard

One of the most significant steps in the recognition and legitimising of cryptocurrency, and specifically Bitcoin, is the recent update by Google with the addition of the symbol of the leading cryptocurrency to their keyboard for iOS mobile devices.
The acceptance of the Bitcoin symbol is a sign that the firm accepts Bitcoin as a legitimate currency. It might seem small but in reality, this is actually a big deal as the act of simply being able to add the Bitcoin icon in a sentence opens the cryptocurrency up to many new possibilities.
Buterin shut down
Ater this move, the co-founder and figurehead for Ethereum approached Google and asked if they would add the Ethereum symbol to their keyboard too. Taking to Twitter, Buterin said: “I would like to discuss with you regarding the possibility to add an ‘ETH’ icon.”
Buterin’s tweet didn’t go without gaining some traction and we can only assume that Buterin didn’t expect to get shut down quite in the way he did as Google responded saying:

“Thank you for your interest regarding our keyboard product. We regretfully have to inform you that Google will not add any other crypto icons to the keyboard besides Bitcoin “because we believe everything else is legally questionable and long-term not viable.”

Clearly a little embarrassed by getting such a lethal rejection from one of the biggest companies in the world, Buterin has since deleted the tweet.
Last year, the co-founder of Ethereum took to Twitter to share a screenshot of what seemed to be a job offer from the search engine giant.
Buterin even put a poll on his Twitter asking his followers if he should abandon Ethereum and join the staff at Google. There were more than two thousand votes overall in the poll and more than fifty percent said that he shouldn’t take the offer.
After the tweet, theories surfaced on Google wanting to recruit the technology genius for the secret crypto project and given his knowledge and young age, it wouldn’t be surprising.
Source: Crypto Daily

$300k Fee Charged For A $14 ETH Transaction

Ethereum has a lot of users and one of them is probably getting ready to take out another mortgage after being charged 2100 ETH when trying to send someone just $14 ETH. This is a massive fee which might seem like a mistake at first the but the user’s account is said to be very active and so the chances of making such mistake aren’t very high.
The transaction fee is worth more than $300,000 with the current rates taken into consideration and even though this is a massive sum, it would hardly cost up to $14 to send to another wallet which leaves a lot of enthusiasts wondering how the network would charge such a massive fee when considering how small transaction is.

Ooooooooops!Looks like some poor dev just paid 3,150 ETH ($450k) in transaction fees.https://t.co/IAHU3ylY33https://t.co/6LEA3smeOJhttps://t.co/M0LztSyWo7
— Mati Greenspan (@MatiGreenspan) February 19, 2019
The crypto community took to Reddit and has been discussing the problem. Some people believe that there is a problem with the user’s Wallet Interface from which the funds were initially sent. There are some others that think it could be a possible attempt to launder money too since the same wallet has sent a similar amount in fees. However, the small transaction amounts could just be a formality.
The user Biht Coign took to Twitter to say:

“A further hypothesis is that this transaction fee was sent as a way to cook the books or launder money, possibly by a mining operation. The same account was found to have previously sent out other similarly large sums. The amount being transferred from one account to another could be a way to disguise the origin of funds. Many have countered that this is unlikely, as there is a risk that the miners wouldn’t successfully mine the block, and would lose their money to someone else.”

Although it is unknown what caused the mishap, it is a bad image for Ethereum since this could very well be a new tactic to launder money using cryptocurrencies.
Source: Crypto Daily

Bitcoin Cash Support Added On Coinbase Wallet

Earlier this week, Coinbase announced that users of its wallet app can now directly store their Bitcoin Cash. the app update will be rolled out to all Android and iOS devices within the next few weeks. Both Cashaddr and legacy address formats are supported alongside Bitcoin Cash Testnet for developers.
Coinbase is one of the biggest exchanges in the US and their noncustodial wallet app will now support Bitcoin Cash. The Product Lead at Coinbase, Siddharth Coelho-Prabhu said on Tuesday, “starting today, you can now store your bitcoin cash (BCH) directly in the Coinbase Wallet app.” Continuing on from this he said:

“The new wallet update with bitcoin cash support will roll out to all users on iOS and Android over the next few weeks. BCH support is activated by default — all you need to do is tap ‘Receive’ on the main wallet tab and select bitcoin cash to send BCH to your Coinbase Wallet.”

The Coinbase product lead noted that the wallet will support the “newer Cashaddr address formats, as well as legacy addresses for backwards compatibility in all applications.” In addition to this, the Bitcoin Cash Testnet will be supported in order to “to aid developers and power users.” Furthermore, he added that the team at Coinbase is also looking “to add support for the JSON Payment Protocol in the future.”
The Coinbase Wallet app has security that is a lot more advanced when compared to its custodial web wallet counterpart. According to the announcement by the exchange, users’ private keys are encrypted and stored on their mobile phones using a Trusted Execution Environment or Secure Enclave technology.
Coelho-Prabhu claims “This specialized hardware is considered the most secure way to safeguard private data on mobile devices.”
The support of Bitcoin Cash comes after the Bitcoin support which was announced earlier in the month. As highlighted by Coelho-Prabhu, the Coinbase Wallet previously supported only “ethereum, ethereum classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum.”
Optional feature
One week before the Bitcoin Cash support was announced, Coinbase announced that users “can now backup an encrypted version of your Coinbase Wallet’s private keys to your personal cloud storage accounts, using either Google Drive or iCloud.” Coelho-Prabhu continues saying, “this new feature provides a safeguard for users, helping them avoid losing their funds if they lose their device or misplace their private keys.”
This was an optional feature which was met with less than kind feedback with a developer from Tallycoin saying, “This is a terrible idea and encrypting with a user-chosen password is even worse. Most people cannot choose/remember strong passwords and generally reuse passwords.”
Source: Crypto Daily

JPM Coin, JP Morgans New Crypto

Last week saw a very significant announcement from JP Morgan, with the launch of the new JPM Coin, a central bank backed cryptocurrency designed by JP Morgan.
Who are JP Morgan
JP Morgan Chase & Co is a US based investment bank that has operations across the globe. Whilst they are mostly based within New York, JP Morgan operate from offices on a multinational level and are considered to be the biggest banking group within the United States. Moreover, JP Morgan are considered to be the sixth largest bank in the world, with assets last year racking up to an incredible $2.543 trillion.
JPM Coin is the first US bank backed cryptocurrency and came through an announcement from JP Morgan officials last week, during which they said:

“The JPM Coin is based on blockchain-based technology enabling the instantaneous transfer of payments between institutional accounts. Exchanging value, such as money, between different parties over a blockchain requires a digital currency, so we created the JPM Coin.”

JPM Coin is not a standalone cryptocurrency designed for use as an adopted currency, rather, JPM Coin makes up a portion of their new blockchain network designed to facilitate fast and cheap payments between the bank accounts of many of JP Morgan’s institutional customers. So no, this isn’t a currency that has been built to rival Bitcoin, rather this is a cryptocurrency that has been set up to help institutional banking customers make the most of blockchain technology and to allow JP Morgan to provide a working platform for the fast and cost effective transfer of money between their customers accounts.
Because JPM Coin is backed by the bank, the value of JPM Coin sits alongside the US Dollar:

“As a globally regulated bank, we believe we have a unique opportunity to develop the capability in a responsible way with the oversight of our regulators. Ultimately, we believe that JPM Coin can yield significant benefits for blockchain applications by reducing clients’ counter-party and settlement risk, decreasing capital requirements and enabling instant value transfer. JPM Coin is 1:1 redeemable in fiat currency held by J.P. Morgan.”

This is still in it’s prototype phase, though it’s still a very exciting announcement that promises big things for the institutional adoption of cryptocurrency. It’s clear that when JP Morgan’s big customers use JPM Coin, they are going to be exposed to a number of blockchain benefits which in turn, could encourage them to go on to explore other cryptocurrencies, such as Bitcoin. Will this spur on a new wave of institutional investment? We hope so.
Source: Crypto Daily

Bitcoin 'Founder' Thinks Ethereum Is Flat Out

According to recent reports, controversial crypto-celebrity and the self proclaimed founder of Bitcoin; Craig Wright has spoken out about scalability problems within Ethereum, stating that he believes Ethereum is already flat out and has no room or capacity to scale any further. If this is correct, then Wright is suggesting that Ethereum will never be able to handle any more transactions that it currently handles and that generally speaking, the entire Ethereum network is in a state of gridlock.
According to Finance Magnates, the comments come from Wright confirming that he has submitted a new document to the Commodity Futures Trading Commission (CFTC), within which the document passes a number of comments against Ethereum and the Ethereum network.
Why the hate?
There’s often friction between the Bitcoin and Ethereum camps, people like Wright can usually be found in the middle of it, but why is there always so much hate between the two? Generally speaking, this seems to be set up to cause a media storm, a sort of ‘my Dad is bigger than your Dad’ type of battle that is usually futile and without reason. Either way, it’s important to keep up to date with this stuff because as we know, this sort of news can have an impact on the markets.

“The general thrust of the piece is that Wright, who starts out by saying that he created bitcoin, launched the first cryptocurrency as a means of trading without such an extensive array of traditional, back-end trading processes.”

Furthermore:

“On top of these points, the alleged founder of bitcoin laid into ethereum. Calling the blockchain system a rip-off of bitcoin, he attacked the system on almost every single level. Wright said that ethereum can never scale upwards because of several systematic flaws within the blockchain system. Thus, Wright says, the ethereum blockchain cannot expand anymore that it has.”

Is Wright, right?
Of course not. The beauty of blockchain technology is that it can always grow and that it can always expand. The blockchain always has the ability to develop, Ethereum is no exception to this. We can only guess that what Wright means is that, if Ethereum stays the same as it is now then yes, it will struggle to scale further, but isn’t that obvious?
Source: Crypto Daily

How Miners Blossom During A Bear Market

Even though this past year wasn’t a very positive one for the cryptocurrency space, the crypto miners and mining firms had an even worse time! Due to the prolonged bear market and the massive drop in prices, many miners are either facing the music and shutting down their shops or keep on fighting in the hope that mining would become profitable again.
As written by the Daily Hodl, “It seems that the only profitable options are to place mining operations in an area with cheap electricity or resort to switching software and mining the most profitable option at the given moment, considering the pools’ fees, electricity costs, the coins you are willing to mine, and optimizing your mining as much as possible along the way.” Although there isn’t a lot you can do about the first option, there is a lot that you can do about the second.
What to Mine
When miners search for coins to mine, they will commonly take a look at the popular mining calculator pages which will let them know about the estimated earning. The most popular sites are CoinCalculators, CoinWarz and WhatToMine. There are a lot of ideas that you can take from these sites but they all seem to miss out one important option, multi-algo pools.
Multi-algo pools allow you to mine different coins and then auto-exchange them to the currency you prefer. Some of the most popular are zpool, Zergpool, BlockMasters and Mining Pool Hub. if you want to compare the estimated earning between coins and multi-algo pools, then you can check the minerstat mining calculator. This is used in the same way as other mining calculators but it will show you estimated earning for coins and the most popular multi-algo pools.
There are several things to consider when trying to decide what coin or multi-algo pool to choose including:

If you are going to sell mined coins, where will you sell them?
Are there any exchanges that offer this coin?
To which wallet will you mine and what are the fees?
What is the volume of this coin?
What is the market cap of this coin?
What is the payout threshold on the pool?
On which pool will you mine and what are the fees?
Is the pool stable?
What is the payment method on the pool?
What are the fees on the exchanges?

Now, the above is what you want to think of when it comes to coins but for Multi-Algo pools, you will need to consider:

To which cryptocurrency will you auto-exchange the coin?
How many miners are already mining in this pool?
What is the payout threshold of the pool?
What are the fees
Is this pool trustworthy? Are the payments regular?
Is the pool stable?
What is the payment method of the pool?

This might seem like a lot an the funny thing is, is that there is more to consider! For example, what is your hashrate? Or how many rigs or ASIC machines do you have set up?
As the Daily Hodl write:

“The lower the hashrate you have, the harder it might be to reach the payout threshold if you are planning to switch between lots of options. So, if the payouts on the pool are whenever you reach 0.001 BTC, make sure to calculate (using one of the calculators mentioned above) how long it takes you to reach 0.001 BTC. If you mine in 10 pools and need to reach 0.001 BTC on all of them, it will take you five times longer to get the reward than it would if you had only mined in two different pools.”

After you are able to answer all these questions, then you will know which coin and pool is right for you.
Source: Crypto Daily

Could Cardano Become The ‘King of dApps’ In The Near Future?

For hardcore enthusiasts of Cardano, you may have noticed that the project has been struggling in recent months. The cryptocurrency for Cardano, ADA has had a fair few hits in the market too, simply failing to meet the needs of its investors.
When it was launched, the project set off to a good start and was able to maintain a decent position in its rankings but in recent times we have seen the token take a slip below the top ten ranking to where it is now (currently 12th according to CoinMarketCap).
It’s no secret that what Cardano has achieved this far is nothing short of astonishing. Without a fully launched project and with dApp on the platform, the ADA cryptocurrency has achieved to be in the top 20 coins in the world and hold a value of more than $1 billion currently. This is a big achievement and has even been recognised by Weiss ratings who published a recent post which made the bold statement that Cardano could become the ‘king of dApps’ when it is fully launched.
Could Cardano Overtake Ethereum?
Weiss Ratings have previously shown statistics that show EOS to be the current king of dApps and then TRON in a close second, this is despite Ethereum holding the title throughout 2018 and the years before. Ethereum’s mistake came as the result of a competition, something that it plans to fix through its upcoming upgrade dubbed Constantinople. Weiss Ratings recently said that they were feeling very positive of Cardano stating that it was expecting great things from the platform when it fully launched.

“#Cardano hasn’t fully launched yet, therefore, usage is low and there are no #dApps running on it. Once finished, we expect great things out of the protocol, quite possibly taking #EOS’s place as the number one dApp platform. We are cautiously optimistic. #KingOfDapps”

‘Cautiously optimistic’ is the key phrase here as in recent months we have seen Cardano disappointing investors but it still remains to be the most promising projects with one of the most qualified teams around. Weiss know this and said that they are optimistic but simultaneously, cautious of what will come for the project.
Source: Crypto Daily

The Difference Between Blockchain and IoT

The terms ‘Blockchain’ and ‘Internet of Things’ often appear side by side, though in order to understand the true implications of these technological revolutions, we need to actually understand what they are, and of course, how they can work together.
The blockchain, as you probably know is a trustless and secured network that can automate a range of processes and can provide storage solutions. Cryptocurrency is a great example of a product that can exist on the blockchain, though the blockchain isn’t simply limited to finance, the blockchain can be used to facilitate a range of processes, from games to gambling and even audit trails.
Internet of Things or IoT refers to a broader idea in that the internet is soon to evolve into a new phase. Traditionally, the internet has been a network, a network of connectivity that allows users to use computers as a portal to access data and information. IoT takes that one step further and refers to these computers and devices as being interconnected, things that work together and things that have a connection to the internet, and other technologies.
Take a smartphone, for example, it allows us to not only use the internet but to also interact with it.
It’s important then, to understand just how blockchain technology and IoT can work together. If they couldn’t, projects like IOTA wouldn’t exist. IoT can help the blockchain grow and indeed, blockchain technology can help improve the prospects of our growing IoT world.
According to Jaxenter:

“Blockchain on its own is just the technological backbone: enterprises need a way to connect to that technology in order to interact and get value from it. This means integrating the blockchain technology with the applications and platforms enterprises already use – such as Salesforce or SAP – to get access to the data in a format that it can use. Adding IoT technology, and using blockchain to share the data, will soon become as common for manufacturers as automated conveyor belts or basic process optimizations. The potential benefits are so broad, and the relative costs so low, that only a small portion of manufacturers would decide the technology is not worthwhile.”

The blockchain should be seen as the skeleton and the muscle structure when IoT is the brain, the skin and the personality of the blockchain. Together, the two can help to change the world we live in.
Source: Crypto Daily

When Should We Expect Bitcoin To Fly?

If you’re a Bitcoin investor, you might be feeling a little impatient at the moment. Perhaps you’re wondering when you should buy next, when you should sell next, or, most importantly, when Bitcoin will fly next.
If we go by the historical data, Bitcoin still does have the capacity to reach $20,000.00 again, though as we have seen through 2018, this is not going to happen organically. Bitcoin can’t gain forward momentum by itself anymore because fewer people are interested in the markets. On a mainstream level, interest in Bitcoin and cryptocurrencies has dropped, why? Because people aren’t making any big money off it anymore.
We all know that in order for Bitcoin to fly, we need to see this interest peak, yet to see interest peak, we need to see money start coming into the markets, we need to see investors making money again. What will trigger this?
Ideally, institutional investment, this should see major investment firms, banks and finance moguls investing in Bitcoin and in turn, telling people about it too. We need to see companies like Goldman Sachs investing a couple of million dollars into Bitcoin. When this happens, rivals will jump on board and in turn, so will retail investors and so will the mainstream population. If Bitcoin starts to move up slowly, and if the name of Bitcoin breaks into the headlines again, then ‘normal’ people will want to start investing, especially given that these ‘normal’ people only really know two things about Bitcoin; it hit $20,000.00 and then it dropped.
When the general population see’s Bitcoin start to make way to £20,000.00, FOMO will kick in and investment will begin. When huge ways of investment fall in Bitcoin’s favour, there can only be one result, a bull run.
Of course, such a bull run will, in turn, cause a mass sell-off that will bring the price of Bitcoin crashing back down, this is something investors can, of course, expect and plan for.
In short, we can only expect Bitcoin to fly when something happens outside of the markets. As we have seen, Bitcoin is currently running on empty. It’s been this way for months, with hype down, Bitcoin can’t progress. Once that hype picks back up again however, we will be seeing a very different picture indeed.
Source: Crypto Daily

Ravencoin, Elastos & More Upcoming Trading Tokens

There are some upcoming trading tokens that have caught the eye of some keen crypto enthusiasts over the past few weeks which have the potential to be big. Throughout this article, we are going to go through a few upcoming trading tokens including, Elastos, Ravencoin and DeepBrain Chain.
Elastos (ELA)
Elastos is one of the initial operating systems which will be utilising blockchain technology to verify the identities of users, machines and applications. The operating system will be running on the Raspberry Pi operating system, on Internet of Things and on mobile devices.
There are three different repositories for the separate segments which are Elastos.OS, Elastos.RT and Elastos.NET. The use of blockchain will remove the stretched out schedules carried out by intermediaries and make the internet ecosystem much more automated and secure.
The blockchain network of Elastos is designed to support the main chain with each dApp getting the green light of its own sidechain. Based in China, the team has been working with both Bitmain and NEO in forming the “G3 of China.”
The firm has currently raised over $90 million in its funding rounds with the project being designed to give users complete ownership and control of their digital assets which brings in direct competition to giants such as Ethereum and EOS.
Ravencoin (RVN)
The aim of Ravencoin is laid out very clearly – designing and transferring digital assets on a blockchain platform. The project came from the open-source fork of the original Bitcoin code with a specialised use case. As reported by The Fintech Times, “Its x16r algorithm is being crafted specifically to combat top-heavy mining pools and ASIC mining equipment. Ravencoin didn’t hold an initial coin offering (ICO) and doesn’t keep any RVN in a founders’ pool.”
The team is based in the United States with users and businesses are allowed to create their own tokens at the expense of some of their Ravencoin tokens. Ravencoin has also built active communication layers above their token-based system allow the participants of the transaction to get involved and communicate securely privately.
Deep Brain Chain (DBC)
DBC is attempting to build a blockchain based neural network training platform to connect computers around the world. There will be a token running on this platform known as DeepbrainCoin and will be utilising the smart contracts of the NEO platform.
This project is set to help improve the functionalities of the smart contract with the help of a decentralised AI driven network.
Source: Crypto Daily