Bitcoin and its peers started the week in red extending the sluggishness witnessed for the large part of last week, but recovered shortly afterwards. In news, two major banks successfully carried out a trade finance transaction using blockchain.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past few hours.
HSBC, ING Carry Out World's First Trade Finance Transaction Using Blockchain
HSBC and ING Bank teamed up to successfully conduct the world's first live trade-finance transaction using a blockchain for their mutual client, the American food and agricultural giant Cargill, thus demonstrating the commercial and operational viability of the distributed ledger for trade digitization. The two banks carried out the end-to-end trade transaction on the New York-based start-up R3's scalable blockchain platform called Corda, HSBC said on Monday. HSBC issued a "Letter of Credit" using Corda to ING, both acting on behalf of Cargill entities. Read more...
Zimbabwe CB Bans Financial Institutions From Using Cryptocurrencies
The Reserve Bank of Zimbabwe (RBZ) has banned all banks and financial institutions in the African nation from transacting in bitcoin and other virtual currencies. They have been given 60 days to fall in line with the rule. It was easier for people to get physical US dollars through the crypto-ATM by selling bitcoins in hand. Read more...
A Crypto Expert Is Contesting House Seat In California
Cryptocurrency expert Brian Forde is running for the U.S. House of Representatives from California's 45th District seat. Its a crowded race for the Democratic Party's nomination to unseat GOP incumbent Rep. Mimi Walters in the Orange County, and Forde hopes to attract crypto investors to his side. Read more...
Streamr Partners HPE For Real-time Vehicle Data Delivery
Blockchain-based data platform Streamr has partnered with Hewlett Packard Enterprise (HPE) to launch a marketplace to monetize vehicle data. The Switzerland-based Streamr is building a decentralized low-latency, data streaming platform for monetizing data produced by the Internet of Things, utilizing a cryptocurrency. Read more...
Crypto Lexicon - ATH
ATH is short for All Time High. This is the highest price that a cryptocurrency has attained thus far. The price can either climb from ATH to set new highs or drop sharply due to profit-booking by crypto traders. Read more...
As of 10.20 am ET on Monday, Bitcoin was up 1.56 percent at $8,724.80 and Ethereum was higher by 2.68 percent at $727.00 on Coinbase.
by Jyotsna V