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Dutch Bank ING To Adopt R3’s Corda Blockchain

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The partnership entitles ING financial institution to limitless Corda Enterprise licenses.

On Tuesday, January 22, Dutch banking and fiscal provider supplier ING Bank signed a five-year maintain blockchain device company R3 to undertake its Corda Enterprise blockchain platform.

According to an announcement printed by means of R3, the deal entitles ING Bank to “an infinite choice of Corda Enterprise licenses,” and can permit the financial institution to make use of the “manufacturing able” CorDapps in each its home and global dealings. Under the brand new deal, the financial institution too can make Corda Enterprise – a business model of its authentic Corda platform – to be had to all its home and global companions.

CorDapps, or Corda dispensed programs, carry out a variety of tasks associated with monetary services and products, together with “industry finance, identification, insurance coverage, and capital markets.” R3 hopes that the adoption of the Corda Enterprise platform will spur mass adoption of its CorDapps.

Annerie Vreugdenhil, head of innovation for wholesale banking at ING, expressed her pleasure over the brand new deal: “[S]igning this licensing settlement marks an enormous milestone in opposition to empowering purchasers to transition to a dispensed financial system. We are one step nearer to deploying reside DLT answers for our purchasers with the supported infrastructure in position.”

ING Bank is some distance from the primary to make use of Corda platform for monetary services and products. In April 2018, the National Bank of Egypt joined the R3 blockchain initiative as part of the rustic’s nationwide virtual transformation technique. In August 2018, the Bank of Thailand participated in a pilot program for wholesale finances switch by means of issuing a wholesale central financial institution virtual foreign money the usage of the Corda platform. And In October of remaining 12 months, 14 European banks tested the Corda platform’s skill to accomplish interbank reconciliations.

Nathan Graham is a full-time personnel author for ETHNews. He lives in Sparks, Nevada, along with his spouse, Beth, and canine, Kyia. Nathan has a zeal for brand new era, grant writing, and quick tales. He spends his time rafting the American River, taking part in video video games, and writing.

ETHNews is dedicated to its Editorial Policy

Like what you learn? Follow us on Twitter @ETHNews_ to obtain the most recent ING Bank, Corda Enterprise Blockchain or different Ethereum dapps information.

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NEO Price Prediction: Long-term (NEO) Value Forecast – June 2

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  • The long-term outlook is in a bullish trend.
  • The 1.618 in the fibs at $19.17 is the bulls target in the long-term.

NEO/USD Long-term Trend: Bullish

Supply zone: $20.00, $30.00, $40.00
Demand zone: $2.00, $1.00, $0.50

NEO continues in the uptrend in its long-term outlook. The strong pressure on the cryptocurrency by the bulls’ comeback at the 61.8 on 18th May has kept price up with new high each week. $12.59 and $15.04 in the supply area were the highs on 20th and 30th May respectively.

The new week is started on a bullish note with today’s opening candle at $13.72 higher than last week opening price at $11.45, an indication that the bulls are more in the market.

Price is above the two EMAs that are fanned apart which suggest strength in the trend and in this case the uptrend.

The journey to 1.618 of the fib extension with price at $19.17 in the supply area is the bulls target in the long-term as the bullish momentum increase and more bullish candle open and closed above the two EMAS.

The views and opinion as expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Argentina Using Bitcoin To “Skirt Capital Controls” – Economist Alex Kruger

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  • One BTC’s trading at $9,143 USD in Argentine exchange Ripio
  • Argentina’s black market peso fell 4.56% to an all-time low of 76.75 against USD
  • President Alberto Fernandez says Argentina is in virtual default, compares its economic solution to the 2001 crisis

Argentina is recording its highest volume week ever on LocalBitcoin, a peer-to-peer Bitcoin exchange platform. Although it has been at the highest volume in terms of the Argentine peso, the volume in terms of BTC is still small versus 2016.

In early April 2016, it hit its peak at 228 BTC, however, at that time, the value of 1 BTC was around $420. Today, 1 BTC is worth more than $7,365.

Source: Usefultulips.org

As per crypto exchange Ripio, the current value of 1 BTC is $548,197 Argentine peso which equals over $9,143 USD, trading at a premium of 23.5%.

On LocalCrypto, however, this is not the case as there are only about one hundred traders in Argentina in the past month. The Argentine peso is 25th by volume on the platform, reported LocalCryptos, but last month they added Bitcoin and could see these low volumes changing soon.

Capital Controls driving the need for Bitcoin?

Matt Ahlborg of UsefulTulips said, “Argentina had its highest volume day ever on Localbitcoins yesterday as capital controls on dollars increased earlier this week.”

Today, Argentina’s black market peso fell about 4.56% to an all-time low of 76.75 against the US dollar, pushing it further away from the official spot rate, which has been held steady by strict capital controls imposed in September.

Argentina’s new Cabinet chief, Santiago Cafiero said a new bill that is sent to Congress will hike taxes on goods and services purchased in US dollars to as high as 30%.

The move aims to stabilize peso that has lost over 80% of its value over the past four years, that fanned high levels of inflation, under former president Mauricio Macri.

On Sunday, new president Alberto Fernandez said Argentina is in virtual default, comparing its economic solution to the 2001 crisis. The country is currently in recession and its economy is expected to shrink by 3.1% in 2019.

“It is not the same as 2001, but it is similar. At that time poverty was at 57 percent, today we have 41 percent poor people; then we had a debt default, today we are in virtual default,” Fernández said in an interview.

Economist Says, That’s Not the case

Could it be that Argentineans are finding safety in Sats? According to economist and trader Alex Kruger, this is not the case.

“Bitcoin in Argentina is not used for safety, but as a temporary vehicle to skirt capital controls,” he said.

In September, he pointed out how the LocalBitcoin chart showing “exploring volumes” has been in the local term that has been because of the peso devaluation and not because Argentines are using the flagship cryptocurrency to “escape the economic crisis.”

In one of his recent tweets, he shared the findings of a poll he ran where he asked Argentine bitcoiners the reason behind their BTC purchase.

Out of the 3,000 people contacted, only 100 reverted that revealed only 10% bought BTC to protect themselves from the devaluing Argentine peso. The majority 80% is in it just for long or short term speculation.

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Here’s Why the Bitcoin Price Has Crypto Traders Railing at Bart Simpson

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Bitcoin’s contemporary worth actions have crypto buyers in all places railing at Bart Simpson for roiling the marketplace. Below, we’ll provide an explanation for why, however first, let’s check out the flagship cryptocurrency’s actions lately.

Bitcoin Price Trades Sideways

Bitcoin worth motion has now not modified a lot since our previous analysis. The virtual forex continues to pattern within a slender channel. Whether or now not this channel is a bull flag can’t be decided simply but. The best certain factor within the present pattern is bitcoin’s talent to carry onto positive aspects it made all through February 8’s spectacular bull run.

As of Thursday afternoon, the bitcoin-to-dollar rate (BTC/USD) used to be buying and selling at $3,576, down a modest 0.02 % because the Asian consultation open. Both the amount and volatility are decrease because the earlier upside run. That reasonably hints that the bitcoin worth is last in in opposition to its subsequent large transfer. Nevertheless, the intervening time bias struggle has made it tricky to are expecting which course bitcoin would pursue within the coming days: downward, sideways, or upward.

Bitcoin Divided Between Bart Simpson and Bull Flag

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The ongoing bitcoin worth motion has first introduced us earlier than the very well-known Bart Simpson. Yep, that Bart Simpson who may be our bearish indicator for lately – no pun meant. But earlier than we reside additional, let’s take a look on the symbol within the tweet beneath:

Technically talking, a Bart Simpson development happens when a sideways motion follows an sudden spike in worth, after which the fee drops again once more – all of sudden. The worth motion suits the form of Bart Simpson’s head.

In the present bitcoin worth motion, the BTC is midway becoming the definition of the Bart Simpson development. A complete Bart will broaden if the cryptocurrency undergoes a unexpected bearish correction, such that it erases its earlier positive aspects. Should that occur, bitcoin is taking a look at a drawback goal in opposition to $3,355. That’s what a immediately Bart Simpson head can do.

bitcoin, Btc USD, bitcoin price

BITCOIN 4H CHART | SOURCE: COINBASE, TRADINGVIEW.COM

But the glass is part complete. The bitcoin worth has now not fully invalidated the bull flag formation, which turned into a central level of debate in our earlier research. The BTC/USD price remains to be consolidating within just a little descending channel, which might imply there’s nonetheless an opportunity that the pair would lengthen its upside momentum.

A retest of the descending channel resistance, coupled with an building up in quantity, will ascertain a bull flag. Then, bitcoin will be capable of ruin above the mentioned resistance to set the following upside goal in opposition to the crimson line at the most sensible (within the chart above). From a broader standpoint, this higher crimson trendline makes the resistance of a medium-term symmetrical triangle. Have a glance:

bitcoin, Btc USD, bitcoin price

BITCOIN 4H CHART | SOURCE: COINBASE, TRADINGVIEW.COM

 Bitcoin Price Intraday Targets

As lengthy because the bitcoin worth remains within the descending channel, we can stay our bets within the vary. That being mentioned, a jump from strengthen would have us open a protracted place in opposition to resistance. Simultaneously, a pullback from resistance would have us input a brief order in opposition to strengthen.

We will keep away from putting breakout goals for lately.

Instead, we’ll go away you with one thing to chunk on:

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Bart Simpson Image from Shutterstock. Charts from TradingView.

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Early Bitcoin Adopter Throws Cold Water On Halving Narrative; Here’s Why

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As NewsBTC has covered over the past few weeks, a debate has erupted around Bitcoin’s impending block reward reduction. Informally known as the “halving” or the “halvening,” every four years the number of BTC issued per block (every 10 minutes or so) gets cut in half, resulting in a negative supply shock on the market.Analysts are currently divided over whether or not it will affect the underlying BTC price in a positive way — we just published another report on why the halving isn’t priced in from a derivatives perspective.While bulls have a good argument due to the Stock to Flow model popularized by pseudonymous quantitative analyst PlanB, a prominent early Bitcoin adopter recently came out in the side of bears, arguing that the halving will not help BTC investors.Related Reading: Bitcoin Price Likely to Jump After Christmas; Here’s Why“First Bitcoin Startup Investor” Bashes Halving NarrativeRoger Ver, an early Bitcoin evangelist who invested in Blockchain.com, Bitcoin.com, BitPay, amongst other crypto companies, recently remarked that he sees a “very real possibility the price of Bitcoin Core (BTC) does not go up after the halving.” This comment was made echoing a remark made by Melem Demirors of CoinShares, who cited financial derivatives as a potential dampener on the positive effects of the halving.The now Japan-based Ver, trying to build out his own thesis on the matter, remarked that he thinks the price won’t up because ” the blocks are full and there is no room for additional commerce to take place on chain.” With this, he is seemingly referring to the sentiment that the economic activity of a chain will affect the price of the asset that is based on top of it.There is a very real possibility the price of Bitcoin Core does not go up after halving.For the first time, the blocks are full and there is no room for additional commerce to take place on chain.Bitcoin Cash on the other hand, has
an amazing future ahead. https://t.co/z4tC7jij7d
— Roger Ver (@rogerkver) December 26, 2019 Related Reading: Why Did Youtube Crack Down on Crypto Channels? Lawyer Weighs InVer Thinks BCH Will Beat BTCVer’s latest comments on the Bitcoin halving come shortly after he remarked in two mainstream media interviews that he expects for BCH to rapidly appreciate against BTC.Per previous reports from NewsBTC, the cryptocurrency entrepreneur and investor told CNBC in an interview that he thinks the market capitalization of Bitcoin Cash is poised to appreciate by over a “thousands of times where it currently is because it’s looking to become peer to peer electronic cash for the entire world.” For some context, BCH would be trading $191,000 apiece if it was trading 1,000 times higher than what it is trading at now.He doubled down on this opinion in an interview with Forbes, saying that he expects for BCH’s market capitalization to supplant that of BTC:“Bitcoin.com is partnering with more household names to bring BCH usage to actual commerce for real people and real businesses. As that adoption of BCH-based commerce grows, so will its market cap.”While Ver has belief in this sentiment, not everyone is convinced that Bitcoin Cash will outperform BTC by that much, if at all.In the wake of his aforementioned interview on CNBC, the crypto community erupted, pledging not to take Ver’s rhetoric lying down. Dan Hedl, a long-time Bitcoiner and industry executive/entrepreneur, wrote on Twitter:“Hey @JoeSquawk whats up with this reporting on bcash by CNBC? Roger is saying factually incorrect information about adoption and identity.”Related Reading: Is the Bitcoin Halving Priced In? No Way, and Here’s WhyFeatured Image from Shutterstock

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Canaan’s New 5-Nanometer Chips to Escalate ASIC Arms Race With Bitmain

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Chinese mining application-specific integrated circuit (ASIC) manufacturer Canaan will launch new, improved mining machines with 5-nanometer chips in Q1 2020.

Chinese industry news outlet 8BTC reported on Dec. 24 that the new ASICs will have significant advantages compared to the previous generation. The new firm’s 5nm manufacturing process is expected to improve performance, power and area scaling.

A significant development

The company expects to scale the production of this new product series faster than it did with its 7nm chips. The number of nanometers refers to the size of the features of the silicon chip, 5nm approaches what is possible with conventional electronics. For scale, 1nm is approximately equivalent to the width of two silicon atoms.

As the features in chips become smaller, it becomes possible to fit more transistors in a silicon die of the same size. At the same time, the electric current has to travel less distance in the circuit to perform a calculation, which means that efficiency is improved and the amount of heat is decreased when the features are smaller.

Canaan is one of the few cryptocurrency-related companies that managed to go public with a $90 million Initial Public Offering (IPO) held in November. As Cointelegraph recently reported, the firm’s shares have seen a 40 percent drop in value since the IPO.

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