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Finance News

Bank of Canada Rates Remain Steady – A Cautious Attitude

Currently, the Bank of Canada continues to build their case for some higher interest rates. However, they have stopped for the moment. The central bank has remained with a key rate unchanged from 1.25% on Wednesday. Related to this, they cited the present weakness in housing, as well as trade and investment when it comes to export.

A Cautious Attitude

Many key ingredients for sustaining higher rates seem to be okay. However, the bank declared its intention of remaining cautious when it comes to other policy adjustments in the future. Currently, we look at Canada’s economy while it’s operating with ‘little slack’. Moreover, inflation has been edging higher and now it’s in line with the 2% target set by the bank. All this information was presented in a statement issued by the bank to justify its rate decision. Don’t forget that the rising wages are also making the consumption growth stay quite ‘robust’.

An Interesting Evolution

Ever since last June, we witnessed three raises of the key rate of the bank. What’s more, the investors and economists expect us to see one more in 2018. Andrew Grantham works as an economist for the Canadian Imperial Bank of Commerce. According to him, the statement shows that the Bank will most likely make another rate hike in July. However, they’re not rushing to move anytime soon after that.

We can blame the go-slow attitude of the bank partly on the expansive capacity to grow of the economy. For 2018, 2019, and 2020, the bank boosted its own estimate for the potential output grow by 2 – 4%. This information was present in the Monetary Policy Report, which they had released on Wednesday. Now, the median should equal 1.8% in all these three years. If they are right, an increased capacity can help the economy grow faster without triggering the inflation.

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Crypto Finance News

Soft Cryptocurrencies Regulations Are The Solutions Proposed By The IMF Director, Christine Lagarde

The boss of the IMF believes that crypto coins and blockchain technology could lead to a “more efficient and potentially more robust” financial system but only if soft cryptocurrencies regulations will be adopted.

A month ago, Christine Lagarde warned, in a blog note, about the “dark side” of cryptocurrencies, citing their high volatility and the fact that they can be used for money laundering or terrorist financing. But, as the boss of the IMF prepares to welcome in the Washington political leaders and central bankers for the traditional spring meetings, the former French Minister of Economy split Monday a new blog note where she shared another point of view, now recognizing the crypto and blockchain technology value but only under the conditions of soft regulations.

Undeniable security and speed

Drawing a parallel with the first financial bubble in history, the Tulipomania in Holland in the 17th century, Christine Lagarde first points out the following:

With more than 1,600 cryptocurrencies in circulation, it seems inevitable that many of them will not survive to the process of creative destruction. But those who take root will “have an impact on the way we put money aside, invest and pay our bills.

Christine Lagarde

Christine Lagarde praises, in particular, the speed and the low-cost of the financial transactions conducted via cryptocurrencies blockchain.

The IMF leader also emphasizes the security of transactions enabled by the blockchain technology, stressing out, again, that the cryptocurrencies and blockchain technology could have applicability for governments but only under soft cryptocurrencies regulations.

A more balanced ecosystem

Christine Lagarde hopes that decentralized services stimulated by cryptocurrencies will lead to a diversification of the global financial landscape and ultimately, they will create a more balanced ecosystem, which will be, at the same time more efficient and more secure.

However, the IMF director remains vigilant, saying that cryptocurrencies must still “win the trust and support of consumers and authorities,” which, according to her, is only possible by the implementation of soft cryptocurrencies regulations a better definition of the blockchain role in the financial sector.

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Crypto News Tech

Ethereum (ETH) Blockchain To Be Used By NASA For Space Exploration

A science project developed and funded by NASA has in planning to use Ethereum (ETH) Blockchain technology for deep space exploration. Dr. Jin Wei Kocsis is the leader of this surprising project and got a $330,000 grant from NASA to create the Resilient Networking and Computing Paradigm (RNCP) which uses smart contracts blockchain technology for fast transactions.

However, the project is designed for space exploration and NASA requested RNCP to develop a “smart-spacecraft” capable of detecting and avoiding small space object, such as debris, by its own, without any human intervention.

Wei Kocsis admitted that the NASA idea is to develop a system based on blockchain technology to support the spacecraft’s instantaneous debris detection and the reduction of the ship’s dependency on engineers.

In this project, the Ethereum blockchain technology will be exploited to develop a decentralized, secure, and cognitive networking and computing infrastructure for deep space exploration. The blockchain consensus protocols will be further explored to improve the resilience of the infrastructure.

Wei Kocsis

This would be the first time when the blockchain technology will be used for space exploration

Noone at NASA (or any other space agency) has ever thought to implement blockchain, more specifically the Ethereum (ETH) blockchain technology, to create faster, smarter, and securer networks for communications and navigations for space exploration.

From the NASA’s Gleen Research Center, the Advanced Communications Program’s Manager, Thomas Kacpura, said that:

It is expected that the potential is high to contribute to the next generation space networks, and also allow tech transition of these algorithms for commercial systems.

Thomas Kacpura

The project has already received positive feedback from both space exploration enthusiasts and blockchain communities members, which stated on social media that NASA proved that the blockchain technology can have tremendous applications.

In short, NASA created and funded RNCP, a project designed to implement the Ethereum (ETH) blockchain technology for changing the future of space exploration.

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Crypto News

Verge (XVG) Partners Up With A Porn Industry Giant, To The Disappointment Of The Community

Verge (XVG) has announced a few days back a mysterious partnership meant to boost the adoption of XVG cryptocurrencies. Many names have been rumored, including TokenPay, a payments processor. However, surprisingly, Verge (XVG)’s new partner is a renowned porn industry giant.

Many news sites jumped into releasing news articles stating that the new Verge (XVG) partner is Pornhub, the well-known porn streaming site with adult live chat, dating, and many more.

Did Verge (XVG) partnered with Pornhub? Despite that many think so, the answer is “Not quite”.

The real Verge (XVG) partner is MindGeek

Yes, MindGeek is the new XVG partner and the one which will adopt Verge (XVG) payments on its networks.

MindGeek is the company behind Pornhub, Brazzers, Babes.com, and a whole bunch of other porn sites or sites with porn-related content. Well, MindGeek is a giant in the porn industry and, from today on, it is adopting Verge cryptocurrency as one of its payment methods.

How will the Verge (XVG) partnership with MindGeek help the XVG?

Porn industry remains a billion of dollars industry and will keep its position forever, I guess. Thousands of dollars are spent on a daily basis on porn, from movies to live adult cams.

This partnership will definitely increase Verge (XVG) adoption and Verge network will record, most probably, tons of transactions. Not to mention that the intrinsically decentralized characteristic of cryptocurrencies will attract more and more fans of the porn industry who already seek for more privacy, in terms of transactions, at least.

The XVG’s future

Now, Verge (XVG) has dropped by about 24% after the announcement has been made because the Verge community was expecting a strong partnership within the blockchain market or at least in its close vicinity.

However, the coin recovered and is now, again, going green.

It is understandable why the community was disappointed and for this fact, the Verge team is partially guilty for keeping this deal completely under the radar.

In conclusion, the Verge (XVG) partners up with MindGeek, the giant porn industry company which owns Pornhub, Brazzers, and so on. But the XVG holders should be happy because, in the long-term, this deal might turn out to be very advantageous for the Verge (XVG) price.

 

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News

The TESS Space Telescope Gets in Space to Look for Other Planets

NASA’s most recent, most noteworthy “eye in the sky” will take off into space tonight if the climate (and the multimillion-dollar innovation) will take its role seriously and cooperate.

About TESS

TESS stands for The Transiting Exoplanet Survey Satellite, and it is set to ride into an endeavoured high orbit around Earth. This event had been booked for Monday evening, however, has now been moved to Wednesday on the grounds that the group decided it expected to run another check of the rocket’s systems.

It’s tiny, the 1.2 meter by 1.5-meter telescope weighs 362 kilograms. Albeit little, it has been intended to give a significantly greater vision of our universe, flying out similar to “the moon and back” every 14 days as it looks into the skies for far-away planets.

The $200 million TESS replaces NASA’s Kepler telescope, which was propelled in 2009 and is currently close to its end as it doesn’t have more fuel remaining.

About Kepler

Kepler centres around one modest patch of the sky at once, utilizing its 950-millimetre camera to distinguish the littlest of movements in the brightness of stars, which is a sign that something may be orbiting around them. For more than nine years, it has affirmed the presence of 2,600 “exoplanets”, incorporating 30 which are situated in human-style tenable zones, and distinguished 2,200 more potential outcomes.

What TESS can do

Researchers are foreseeing that TESS could find upwards of 20,000 new planets amid its mission of 2 years.

Astronomers now accept that there may be upwards of two billion planets equipped for supporting life in our cosmic system.

NASA’s first space-based telescope was propelled from the space shuttle called Discovery in 1991. It stays in service 547 kilometres over the Earth, in “low” orbit. Hubble has once in a while caught astounding perspectives of deep space exoplanets, yet that was never its basic role.

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