Author: Anna Galvez

Categories
Crypto News

0x (ZRX) Might Be The Next Big Thing In The Cryptocurrencies Market

With Coinbase dropping the announcement that it considers 0x (ZRX) as one of its upcoming additions, this cryptocurrency has performed excellently, particularly in comparison to the competition. While Bitcoin (BTC) itself started to rebound lately, the majority of the other altcoins still don’t look like they enjoy the trust of the cryptocurrency investors and are still in doubt. That is not the case with 0x (ZRX).

0x protocol is the underlying technology for more and more platforms

The 0x team of devs has just released the first Developer Update #1 and will be releasing more such updates shortly. As the title implies, the new update is meant for people who are actively developing DApps over the 0x protocol. They have also forwarded V2 contracts to Kovan Testnet and declared their total support for Semantic Versioning.

DDEX, run ning on 0x protocol, has just launched a bug report program to motivate third-party software devs to verify the code and identify any possible security flaws. Identifying critical bugs will earn the discoverer a reward of $10,000. Also, discovering minor bugs would also be rewarded at a reduced bounty.

Weswap, another DEX launched recently on the 0x protocol, is a fast peer-to-peer crypto tokens exchange platform that allows users to trade Ethereum-based crypto tokens in an entirely decentralized way.

0x (ZRX) becomes stronger and stronger, also backed by the bullish cryptocurrencies market

The 0x team will also support NIFTY, a meeting that will encourage the involvement of people who are interested in blockchain games and collectibles. The devs teams can battle each other creatively applying the 0x protocol and the team building the most ground-breaking game/collectible model will win rewards in 0x (ZRX) crypto tokens.

The 0x protocol and 0x (ZRX) appear to be stronger than ever, and since the cryptos market goes bullish, the ZRX has all it needs to record more gains. Also, the analysts consider that 0x (ZRX) will perform at full throttle in August.

At the moment of this writing, 0x (ZRX) is trading at $1.05, dropping by about 1.77% in the last 24 hours following the slight downtrend of the cryptocurrencies market, but that’s not something to worry about on the long-run. The ZRX is on the 23rd place in the market, with a market cap of more than $561 million.

Categories
Crypto Finance News

The Leading Credit Institution In China Issued A Loan Using The Blockchain Technology

The Agricultural Bank of China (ABC), the fourth largest bank in China, has issued its first loan based on the blockchain, according to a July 31st report by the local news channel Financial News.

Agricultural Bank of China (ABC) had granted a loan via the blockchain technology

ABC, one of China’s leading credit institutions, announced that it had issued a credit of around $300,000, guaranteed by a piece of agricultural land in the province of Guizhou.

According to Financial News, the bank will bring together “local people, resource offices as well as agriculture and livestock offices” through the blockchain system, adding that the loan “will support the local tea industry.”

The ABC’s blockchain project received the participation of third parties, including the provincial branch of the Chinese People’s Bank, which acted as nodes for verifying the validity of credit data.

More blockchain-based loans to be granted in the future, according to ABC

In the future, as the bank says, other types of loans will be under the auspices of the blockchain technology, with decentralized ledger technology enabling ABC to prevent the issuance of customers applying for loans from different banks using the same property as a guarantee.

Accordingly, more blockchain technology-based loans would be granted in the future, as the distributed ledger technology wins more and more ground in China.

The Chinese government and local FinTech companies work on IoT and blockchain technology standardization

China continues to deploy blockchain technology at a significant pace, and the government plans to introduce industry-wide standards next year.

In July, China’s Joint Technical Committee of the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) announced that they would lead an international research group on standardization of the Internet of Things (IoT) and blockchain technology.

Be it as it may, China is making huge leaps towards becoming a blockchain nation, although cryptocurrencies are still considered high-risk assets for the Chinese economy.

Categories
Crypto News

Paul Krugman, Nobel Prize Winner And Economist, Stated That Cryptocurrencies Are Useless

Nobel Prize winner Paul Krugman expressed skepticism towards cryptocurrency. Nobel laureate and economist Paul Krugman has voiced his skepticism regarding the value of cryptocurrencies in a comment issued in the New York Times on July 31st.

Krugman, who was awarded the Nobel Prize in Economics in 2008, strengthened his position as a “crypto-skeptic” by highlighting the high transaction fees and “lack of tethering” in the context of cryptocurrencies.

Krugman illustrates how the history of money has gradually moved from gold and silver coins, with an intrinsic value, to banknotes, and lately to credit cards and various other “digital methods,” all of which aimed at cheapening up purchases.

For Krugman, “those who celebrate the cryptocurrency effectively honor the use of advanced modern technology to reverse the currency system by 300 years.”

“Why would you do that? What problem does it solve? I still don’t have a clear answer to that question,” he added.

Paul Krugman challenges crypto enthusiasts to prove his crypto-skepticism wrong

Concerning the lack of crypto “tethering,” Krugman states that “total collapse is a real possibility.”

“If speculators were to have a collective moment of doubt, they suddenly feared that Bitcoin (BTC) was worthless, well, Bitcoin (BTC) would become worthless,” said Krugman.

The economist also observes that while there could be a “potential balance” in the future, only Bitcoin (BTC), out from all cryptocurrencies, simply for “black market transactions and tax evasion,” will most likely survive the collapse.

Krugman finishes by declaring that he may be wrong and then adds a call to all crypto enthusiasts to demonstrate that his crypto-skepticism is erroneous.

But if you want to argue that I am wrong, please answer the question – What problem does the cryptocurrency solve? Don’t try to silence the skeptics with a mixture of technobabble and libertarian derp, concluded Paul Krugman, former Nobel Prize winner for economics in 2008.

Categories
Crypto News

About 90% of The US Blockchain Technology Initiatives Do Not Go Live Ultimately, According To Forrester Research

Around 90 percent of the blockchain initiatives of currently active US companies are ultimately abandoned.

This statistic comes from a study by Forrester Research, quoted by Bloomberg in an article dated July 31st. The US market research company Forrester Research assumes that most blockchain projects initiated by American companies will be suspended in 2018. Forrester Research concludes that in 90 percent of cases, “the project will never become part of the company.”

The researcher also claims that “some companies” that are seeking to incorporate widely advertised Distributed Ledger Technology (DLT) into their companies are now withdrawing and downgrading their ambitions.

The latest study marks at least the second instance in which Forrester Research has announced a lousy future for blockchain applications in America.

90 percent of the US blockchain technology initiatives do not go live, according to Forrester Research, as companies are still testing the water

Back in 2017, the company published an article entitled “Predictions 2018: The Blockchain revolution will have to wait a little longer” and claimed that 2018 would be “the year of reckoning for blockchain technology initiatives.”

“Those who have failed to turn headlines into reality will write off and give up their investments, while others who have a deep understanding of the technology and its transformation potential, in the long run, will continue to move forward,” according to Forrester Research.

According to Bloomberg, Ron Resnick, the first Executive Director of the Enterprise Ethereum Alliance (EEA), argued that blockchain technology development in 2019 could still experience an upward trend as “companies are still testing the water.”

Previously, Brian Behlendorf, CEO of Hyperledger, claimed that the “upcoming wave” of blockchain applications would not come from established technology giants like Google, Amazon or Facebook, as these companies are “blind in one eye when it comes to blockchain technology.”

At the beginning of July, Mike Novogratz, former Wall Street analyst, predicted that the mass acceptance of cryptocurrencies and blockchain technology would be “five to six years away.”

Categories
Crypto News

Former US President Bill Clinton To Open The Ripple’s Swell Event In October

Former US President Bill Clinton will be the keynote speaker at the opening of Ripple’s Swell event, to be held October 1-2 in San Francisco, USA.

Ripple made the announcement July 31st, through its blog, noting that the former US president will participate in a Q&A session to be moderated by Gene Sperling, Director of the National Economic Council and adviser under Presidents Bill Clinton and Barack Obama.

Clinton’s involvement in the event can provide input to address today’s technology challenges, which pose dilemmas around the rapid exchange of value, financial inclusion and economic opportunity offered by digital assets and crypto-based blockchain technology, versus regulatory concerns and investor protection.

Former US President Bill Clinton will open the Ripple’s Swell event in October

The emphasis is placed on the experience of the former US President, who in the 1990s established programs that helped bridge the digital breakthroughs and helped to mark the beginning of a period of growth and adoption of the Internet.

After the announcement of Clinton’s participation in the Ripple’s Swell event was made, the Ripple followers on Twitter commented, and the opinions were mixed.

While some people found the fact interesting, others felt that the former US President Bill Clinton is not having much to do with the cryptocurrencies universe or that he might not have much to contribute to the topics that would be discussed during Ripple’s Swell event.

This one will be the second edition of Ripple’s Swell, which is an event created in 2017 by Ripple to bring together the leaders of banking and cryptocurrencies and blockchain technology, committed to changing the way money moves.

Under the 2018 programme, major financial services companies using distributed ledger technology will participate this year, as well as addressing new market opportunities in remittances, e-commerce and corporate markets. This, together with analyses of the regulatory frameworks being established for cryptocurrencies in Europe, Asia, and the Middle East.

Exit mobile version