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Crypto News

The Bank Of England Declared That A Decentralized Transactions Blockchain Technology Platform Is “Theoretically Possible”

After having carried out a Proof of Concept (PoC) with the startup Chain, the Bank of England recently published that it came to the conclusion that a distributed decentralized blockchain technology platform with a degree of privacy for sensitive data seems possible.

According to the official report, the research was conducted with the aim of exploring whether the blockchain technology can maintain the levels of privacy required by the banking system participants, at the same time that the information is distributed among all the participating nodes and that the transactions they can be supervised by the regulatory authorities.

The conclusion they reached responds to a doubt expressed by the bank since they began to investigate the technology in 2016

“It seems theoretically possible to configure a distributed accounting system so that transactions remain private while All the data shared in the network are maintained, and at the same time, a regulatory view of all transactions is maintained,” the bank said.

The testing was carried out with a transfer of ownership of a fictitious asset among several participants, including the central bank and a regulatory body. The activity supported by Chain was carried out for exploration and learning purposes, as published by the bank.

In the test, the issue and withdrawal of assets, as well as the granting of access to the general ledger, was the responsibility of the central authority, while the regulatory authority could have access to supervise all transactions.

Although the answer was “theoretically possible” regarding blockchain technology, security issues still need to be fixed

The report highlights that other aspects of the technology of the distributed ledger still “must be explored further” since the blockchain is not yet competitive to process banking transactions in the speed of processing and the scalability of it. An issue that, for the moment, does not make the adoption of blockchain technology viable as a platform for the processing of all transactions, according to the Bank of England statement.

To understand the importance of this test it is necessary to take into account that the privacy of the data has been one of the main concerns of the banks regarding blockchain. A fact that has led banking corporations to develop private blockchain-based solutions such as the one proposed by the Bank of England.

In addition to this proof of concept based on the use of blockchain technology for the banking sector, last March, the Bank of England announced another proof of concept, this time for the support of its gross settlement system, whose results are expected to be obtained by the end of this 2018.

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Crypto Finance News

Nano (NANO) back on the right track with Smartphone compatible wallet

The crypto market went through some hard times lately. The prices went down for all coins after the unexpected jump at the beginning of the year. However, some coins seem to get back on their feet slowly.

Nano (NANO) is one of the virtual coins that is ready to fight with the big players like Bitcoin and Ethereum. While the market is receiving new competitors every day, Nano remains confident that it is able to face them. Here is what it has to offer:

Recognition

Not all coins manage to obtain listing in major exchanges. Nano received recognition for other important players in the market, including the founder of Litecoin, Charlie. The experts also appreciate Nano for its smart ecosystem that does not use too many resources.

Smartphone compatible wallet

Having a wallet is very important for a crypto coin, and users can benefit from it. One of the advantages of the Nano wallet is the fact that it is smartphone compatible. This means that you will be able to access your money even when you are on the go.

Having a wallet that is available on a smartphone makes it more accessible and easier to use. Which is definitely something that users will appreciate. The light wallet is considered an important one and it improved the reputation of Nano.

In fact, Binance exchange offered a reward to the Nano community, for being one of the best communities on the crypto market, which is an important accomplishment.

NANO tokens can be also used on Twitch, which is an online game streaming company that operates globally and is owned by Amazon. Since there are thousands of users, there is a chance that the NANO coin will be adopted by even more people in the future.

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News

Nutrien (NTR) Dividends, Risk and Profitability

When it comes to the “Agricultural chemicals” industry Nutrien (NYSE: NTR) is one of the top companies. However, you might be wondering how the company compares to its rivals. This article will analyse the strengths of all of them you can get a better idea.

Dividends

If we take a look at dividends we can see that Nutrien has a dividend yield of 3.4% and it pays an annual dividend of $1.60 per share. There is a chance the company won’t have enough money for future dividends, as it pays out 126.0% of its earnings in the form of a dividend.

Meanwhile, when it comes to “Agricultural chemicals” as a group, the companies pay out 63.3% of their earnings in the form of a dividend and they pay a dividend yield of 2.2%.

Gross revenue, net income and price/ earnings ratio

When it comes to the valuation and the earnings of Nutrien and its rivals the data is accessible. The gross revenue for Nutrien is $4.55 billion, while the gross revenue for Nutrien Competitors is $3.12 billion. Taking a look at the net income we can see that Nutrien Competitors have $272.01 million, while the net income for Nutrien is $327.00 million. Finally, the price/ earnings ratio for Nutrien is 36.76, while for Nutrien peers, this ratio is 0.20.

Risk

It appears that the share price of Nutrien is less volatile than the S&p 500. The beta of Nutrien is 0.49, while the beta of the competitors is 0.53. This means that their average share price is 48% less volatile than the S&P 500.

Profitability

When it comes to the net margins, for Nutrien we have 7.19%, while Nutrien competitors have -1,647,77%. The return on equity for Nutrien is 1.33%, and for its rivals -12.02%.

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Crypto Finance News

Investing in Cryptocurrency: Nano (NANO)

Cryptocurrency is one of the most popular subjects among investors. After the big boom at the beginning of the year, it is not hard to see that cryptocurrency is here to stay. However, while Bitcoin remains the most powerful coin, many investors prefer to look at other alternatives.

Nano (NANO) is a currency that appears to regain its position, despite the fact that these are hard times for crypto. At the moment, the price reached $5.97292. This is a good step forward, as the settlement of the price was of -13.53% the last day.

What is Nano (NANO)?

The Nano platform was launched by RaiBlocks and Colin LeMahieu back in 2015. There, Nano (NANO) was used as cryptocurrecy. The platform was great for peer-to-peer transactions. There were numerous advantages, including the fact that users were able to make the transactions instantly, which means tha this coin could be used on a daily basis, including for regular purchases.

Should you invest in cryptocurrency?

If you are looking to invest in cryptocurrency you should know that there are both advantages and disadvantages. For example, one of the risks with cryptocurrency is the fact that it can be very volatile, and this is something that has been proved with Bitcoin. Bitcoin has a huge rise and then it went back down. Expert opinions are usually divided and some believe that the prices will jump up again, while others think that Bitcoin will go down for good.

Cryptocurrency also requires some degree of research, as it is important to understand the technology behind it before you decide to invest in it. There are also numerous factors that need to be taken into account. For example, you should know that supply for the currency, as well as the processing speed.

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Crypto News

Canadian Banks Started To Limit Their Clients’ Cryptocurrencies Transactions

Adopting the course set by other banks and governmental institutions from all over the world regarding cryptocurrencies regulations, Bank of Montreal, a top 5 bank in Canada, has also decided to opt for a conservative position regarding cryptocurrencies market.

In March, there were rumors that the Bank of Montreal issued an internal memorandum which read that crypto regulations are in the plan. However, now it is official that the Bank doesn’t allow anymore its clients to buy cryptocurrencies using their account and credit/debit cards issued by the bank, arguing that this decision was taken “to better protect the security of the clients and the bank.”

In Canada, there is a recent trending followed by banks which restrict more and more their clients’ freedom of transacting cryptocurrencies.

Thus, Scotiabank has hindered VISA transactions related to cryptocurrencies and Toronto-Dominion Bank banned crypto purchases made with the bank-issued credit cards.

The banks are struggling to ban cryptocurrencies-related transactions

Many banks from every corner of the world have endeavored to work against cryptocurrencies market.

Commonwealth Bank, Danske Bank, and Citigroup are just a few of the important names of the banking industry which keeps on limiting their clients’ capacity of buying cryptocurrencies. Even more, there have been cases in which these banks even froze clients’ accounts without any notice if crypto-related transactions were registered.

However, these hostile tactics have demonstrated to be futile attempts because cryptocurrencies experienced holders and investors in Canada, for example, redirected their activities to regional gatherings and exchanging operators, making it possible for websites like Localbitcoins to boost in traffic directed from Canada since the beginning of April.

Cryptocurrencies still have supporters among the Canadian financial institutions

For example, TMX Group has declared earlier its intentions to release a cryptocurrency exchange platform and, along with Shorcan Digital and PayCase Financial, they also work on developing a cryptocurrencies brokerage service.

In conclusion, adopting the international trending regarding the crypto assets, major banks of Canada opted for a more conservative policy regarding cryptocurrencies market by limiting their clients’ ability to buy cryptocurrencies.

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