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IOTA aims to use IoT to build smarter cities in Texas

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IOTA, one of the fastest growing blockchain foundations on the world, announced that it will sponsor the first inaugural Texas Smart Cities Summit, an event that aims to accelerate smart city efforts in the state of Texas. The company will also hold several events throughout the summit, it said in a statement.

Smart Cities Initiative gets a boost from IOTA

The technology that has enabled digital coins has the potential to be implemented in virtually any industry—from supply chains and fashion, to finance and government. Several major corporations have begun experimenting with cryptocurrency, and a handful of local governments have followed suit.

Texas is one of those pioneers. A cohort of companies, organizations, and individuals from the state created a consortium aimed at utilizing blockchain. The Austin CityUP was created in order to advance smart city initiatives in the state.

One of the biggest blockchain events of the year is the inaugural Texas Smart Cities Summit, which is backed by the consortium. IOTA, a German blockchain foundation, announced that it will be sponsoring the main event to better explain the role and potential of blockchain.

Smart cities and blockchain

IOTA’s latest event in Texas, held on April 29, received “outstanding” feedback, so the company decided to host a working group session and several other events during the Summit. According to the company’s official blog post, one of those events will focus on the IOTA protocol. The company said that the protocol could have potential if integrated into Smart City solutions.

IOTA has partnered with the Austin Transportation Department to work on blockchain transportation use cases. The project will work on solving the problem of interoperability between different transportation systems and will be Austin’s first step to creating a ‘Smart City.’

Jay Boisseau, the founder and CEO of Austin CityUP, said that several cities in Texas, including San Antonio, Dallas, and Houston, have started with smart city efforts. He explained:

“Smart city approaches allow us to use data, technology, and analytics to improve the quality of life in cities for all as well as the efficiency and operations of those cities.”

IOTA, currently ranked #15 by market cap, is up 8.16% over the past 24 hours. IOT has a market cap of $1.16B with a 24 hour volume of $64.33M.

Chart by CryptoCompare

IOTA is up 8.16% over the past 24 hours.

Filed Under: , Adoption, IOTA, Price Watch

Priyeshu Garg

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in Computer Science Engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving the transportation problems at his company, he can be found writing about the blockchain or roller skating with his friends.

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Crypto Upstart Reality Shares Files Semi Bitcoin ETF To The SEC

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Reality Shares’ Product To Have 15% BTC At Maximum 

That’s proper people, but every other contender has entered the Bitcoin exchange-traded fund (ETF) fray. This time its Reality Shares, a blockchain-centric funding products and services supplier founded in California this is headed by way of leader government Eric Ervin.

According to The Block, who broke the scoop on the subject material, the proposal, which relates to NYSE Arca, just lately filed to the U.S. Securities and Exchange Commission (SEC) isn’t like its brethren. In reality, it isn’t actually a full-Bitcoin fund, as a most of 15% of the fund’s property might be allotted to BTC, during the CBOE and CME futures to be actual, if the product is going are living.

Reality Shares is making plans for the remainder property to be allotted to sovereign debt tools denominated in fiat currencies just like the British Pound, Japanese Yen, Swiss Francs, along side cash marketplace mutual finances. Ervin defined his reasoning for this determination, which might give not unusual Joes and Jill good enough publicity to the flagship cryptocurrency, by way of declaring:

The SEC doesn’t wish to approve a complete blown crypto ETF however this boundaries publicity to 15%.

While this transfer is welcome, particularly bearing in mind the loss of U.S.-regulated, easily-accessible crypto-related funding choices, some could also be disconcerted by way of the truth that Reality Shares would possibly come to a decision to stave clear of allocating their finances to bodily BTC. This is because of the truth that CBOE’s and CME’s Bitcoin choices are recently cash-settled, thus making the California funding upstart’s attainable Bitcoin allocation paper, no longer bodily.

Bitcoin ETF Hype Continues 

The submitting of Reality Shares’ proposed car comes amid a persevered hype surrounding Bitcoin ETFs and merchandise of an identical caliber.

Interestingly, the aforementioned proposal is the second one semi-Bitcoin ETF to be filed in a month’s time.

Per MarketWatch, Wilshire Phoenix, a New York-headquartered funding control workforce, submitted an S-1 submitting with the SEC closing month. The submitting purportedly relates to a crypto-backed product, curiously named the United States Bitcoin and Treasury Investment Trust. Unlike advised cars from VanEck and its companions, Wilshire’s believe will dangle positions in no longer most effective BTC however momentary U.S. Treasury expenses and American greenbacks too.

The SEC-filed file accentuated the truth that the believe isn’t supposed to at once emulate a capital allocation against Bitcoin. Instead, Wilshire sees the tool as some way for potential traders to achieve minimum, however enough publicity to the main cryptocurrency. The American funding company added that the car’s divergent nature would lower volatility, whilst additionally minimizing the shortcomings of buying, securing, and promoting Bitcoin.

While all that is neatly and just right, strides were made within the full-Bitcoin fund scene too. As reported by way of Ethereum World News previously, San Francisco-based Bitwise Asset Management published an ETF that may observe its in-house Bitcoin Total Return Index, which purportedly “captures the full value of an investment in BTC.”

The CBOE, VanEck, and SolidX additionally resubmitted its joint proposal to the SEC after months of tumult.

And the proposals’ potentialities have begun to appear up, particularly as Hester Peirce, a commissioner on the monetary regulator, has expressed kindness and leniency against the cryptosphere. But will she be capable to persuade her fellow commissioners?

Title Image Courtesy of Bruno Van Der Kraan Via Unsplash

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Could Tesla CEO Elon Musk be Next in Line for Bitcoin’s Lightning Torch?

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From Twitter founder Jack Dorsey to crypto billionaires, the Lightning Network torch remains to be a factor on social media. It maximum not too long ago discovered its method into the palms of Binance CEO Changpeng Zhao. Zhao, like many within the Bitcoin group, want to see Tesla CEO Elon Musk clutch the torch subsequent.

Twitter Wants Elon Musk to Join Bitcoin’s Lightning Experiment

Litecoin writer Charlie Lee sought after it for himself, on the recommendation of Lightning Labs co-founder Elizabeth Stark.

He took the chance to indicate that many of us don’t appear to “want” the torch.

TakeTheTorch.online is regularly creating as a website online and probably a motion. Every time we seek advice from it, the illusion has modified, and the checklist of people that’ve won the torch has grown longer. It now sports activities a meme gallery.

The contemporary Bitcoin price building up moved the worth of the torch (3.21 million satoshis) to about $116.

Will This Bitcoin Torch Be ‘Stolen’ More Often As It Grows in Value?

Binance’s Zhao clearly sees the worth of the Twitter recreation. Demonstrating the microtransactional probabilities of Lightning Network, the scaling answer for Bitcoin has so much to turn out after two forks of Bitcoin have viably created techniques the place the worth of a transaction is way decrease.

Other notable torch-bearers within the week-long experiment come with @Excellion or Samson Mow, the outspoken Blockstream Chief Strategy Officer. Mow as soon as spoke so fervently in prefer of Bitcoin Core that Gavin Andresen labeled both him and Gregory Maxwell “toxic trolls.”

In addition to Samson Mow, @aantonop or Andreas Antonopoulos prior to now took the torch and handed it to pseudonymous Peter Parker.

Interestingly, a couple of transactions within the checklist are marked as “steal,” “dup,” or “return.” Presumably, anyone who receives the torch and assists in keeping it has “stolen” it. If it’s despatched to anyone who has already won it, that’s a “dup” or replica. A “return” is what we may be expecting extra because the experiment grows in price and those who merely don’t have any pastime flip the transaction round.

For his phase, Elon Musk has no longer addressed the handfuls of frantic Lightning Network supporters tagging him on Twitter. As prior to now reported, Musk is deeply thinking about paintings at SpaceX at this time. The corporate is operating laborious to show issues round after large layoffs have been caused by way of a few of its extra “insane” analysis tasks.

Elon Musk Image from Shutterstock

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$370 Billion Asset Manger Janus Says US Stock Market is Careening Toward Recession

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According to George Maris, the co-head of equities of Americas at Janus Henderson, an asset supervisor with $370 billion in AUM, a recession within the U.S. obviously stays a near-term chance, which might totally opposite the bullish development of the U.S. inventory marketplace.

“It’s [a U.S. recession] clear a near-term risk. If we can’t get trade negotiation results favorably, we’ve got weakening investment to look forward to. I mean there’s going to be a problem,” Maris said on Bloomberg Markets.

The Janus Henderson govt defined geopolitical dangers, home politics, and quite a lot of uncertainties surrounding the U.S. inventory marketplace because the core problems that can result in a full-blown recession within the close to long run.

Very Little Appetite to Get Things Done within the U.S., Stock Market Momentum in Decline?

Over the closing seven days, primary indexes within the U.S. inventory marketplace within the likes of the Dow Jones and the Nasdaq Composite have retraced following a powerful few weeks in January.

While some analysts have stated that the recent momentum of the Dow and its friends has satisfied retail buyers to spend money on the U.S. marketplace, elementary problems stay unchanged.

dow jones industrial average

The Dow has recovered, however the U.S. inventory marketplace continues to grapple with elementary issues that might stifle futures beneficial properties.

Primarily because of the home politics within the U.S. and the focus established on strengthening the southern border, Maris stated that the urge for food to transport ahead from each buyers and corporations has declined.

Maris famous:

“Given the political issues in the United States, there seems to be very little appetite to anything done, so it will be hard to get fiscal expansions, whether it is infrastructure-based or otherwise; tax cuts, etc. to happen is going to be unlikely.”

Considering the state of U.S. politics and the loss of vital growth within the U.S.-China trade talks, the Janus Henderson govt emphasised that dangers of recession will inevitably raise.

“So with that kind of uncertainty happening over the economy, you know recession risks are going to elevate,” he added.

The govt echoed the sentiment of Nobel Laureate Paul Krugman, who stated that the U.S. marketplace is in a worse position than it used to be 10 years in the past all through the Great Recession.

In the closing ten years, Maris defined that the ammunition or the choices of the central financial institution to stop a recession have declined, which will increase the likelihood of a recession within the upcoming years.

The Dow, S&P 500, and Nasdaq are recently ready at the end result of the U.S.-China business talks with low volatility and a reasonably top stage of steadiness.

If the U.S. will get a complete business deal completed by means of March 1, lots of the dangers concerned out there might be eradicated.

However, Maris warned that during a conceivable state of affairs through which a business deal isn’t completed, there exists an opportunity of a steep downturn out there.

He defined:

“If you get trade resolved, then you can start to see those risks diminish. I think what Paul Krugman was talking about was, in fact, there is less central bank ammunition to fight off any sort of recession or financial crisis that we had in 2008 and I think he is right with respect to that.”

Even If a Recession Occurs, It Won’t Be Anything Like the 2008 Financial Crisis

If a recession happens within the subsequent 12 months or two, Maris mentioned that it’s going to no longer mirror the disastrous affect the former 2008 monetary disaster had at the U.S. financial system.

The basics within the native financial system stay robust with employment rates and family balances sheets at document ranges.

“The actual fundamental elements of the economy are good,” the chief stated, including that even supposing a recession happens, the impact it would have at the U.S. marketplace is proscribed.

Featured Image from Shutterstock

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TD Ameritrade Says US Stock Market Stability is Luring Investors, But Here’s Why the Dow Might Not Bounce Back

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Throughout the previous two weeks, analysts have most often attributed the restoration of Dow Jones to technical elements, expressing skepticism towards the sustainability of the U.S. inventory marketplace rally.

This week, Shawn Cruz, a dealer technique supervisor at $30 billion brokerage large TD Ameritrade, stated that the sentiment within the U.S. inventory marketplace has progressed, particularly amongst fundamental-based traders.

“[Indicators of economic stability are] giving the more fundamental-based investors faith coming back into the market, which is then driving what technical traders are seeing on their screen,” Cruz stated, speaking to The Wall Street Journal.

Can the Dow Jones Rally?

Since December 24, the Dow Jones has initiated one of the spectacular turnarounds in recent times, improving from 21,782.2 issues to 25,411.52 issues inside lower than two months.

dow jones

The Dow has assembled a large restoration since its late-December lows, however it would now not proceed thru to a brand new all-time top.

The Dow Jones used to be prone to coming into a undergo marketplace in mid-December after the Nasdaq Composite recorded a 20 % drop from its all-time top and formally bought a undergo marketplace standing.

The fast expansion of the Dow Jones previously two months has led traders to query the standards of the motion of the U.S. inventory marketplace.

Apart from technical elements, maximum foremost elements reminiscent of geopolitical risks and weak earnings reports from primary conglomerates within the U.S. stay because the core problems for traders.

On February 4, CCN reported that Raymond Jones fastened source of revenue capital markets head Kevin Giddis stated the U.S. marketplace lacks stimulus to develop within the upcoming months.

“There is obviously a separation between where the equity market sees the world and where the bond market sees the world. We don’t know what’ll cause the next recession, but at the same time, you flip it to the other side and you don’t see much that’ll stimulate economic growth.”

In the ultimate seven days, the Dow Jones has retraced from 25,411.52 issues to 25,045.96. Currently, the Dow is prone to falling beneath the 25,000 stage.

To maintain the certain development of the U.S. inventory marketplace in contemporary weeks, Direxion Investments managing director Paul Brigandi stated that it is vital for the marketplace to take care of its momentum.

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Many traders are buying and selling according to sentiment and are allocating capital into the inventory marketplace once more as primary indexes started to get better.

“Momentum is a key component right now. A lot of people are jumping in to get on board,” he stated.

Investors Have to Consider Short-Term Stock Market Risks

Some analysts foresee a continual rally for the Dow Jones. But, others together with Morgan Stanley senior portfolio supervisor Andrew Slimmon worry for the vulnerable company income launched previously 30 days.

Apart from the oil business, which outperformed the expectancies of Wall Street following a decline in the cost of oil, maximum primary industries have struggled.

The monetary sector has carried out particularly poorly within the fourth quarter with maximum banks reducing again on their projected revenues.

Slimmon said:

“I’m worried. As much as companies look like they made fourth-quarter numbers, the 2019 estimates are dropping, and it strengthens my concern.”

With vulnerable company income, no important construction within the U.S.-China industry talks, and the declining euro-zone financial system, the U.S. marketplace is also prone to experiencing a non permanent development reversal.

As emphasised via TD Ameritrade strategist Shawn Cruz and Direcixion investments govt Paul Brigandi, momentum is an important for the U.S. inventory marketplace.

If the Dow Jones fails to maintain balance above the 25,000 stage, a chance of an extra decline may just accentuate and tremendously modify the present sentiment available in the market which stays certain to this date.

In the non permanent, massive volatility within the U.S. marketplace is anticipated, however analysts stay unsure whether or not that might imply a rally to dance again from this week’s losses or an extra drop to December ranges.

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Ripple Offered Multimillion-Dollar XRP Bonuses to Lure Top Tech Talent

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Silicon Valley fintech startup Ripple is going out of its solution to say it didn’t create the cryptocurrency XRP. But that doesn’t imply the corporate doesn’t depend on its huge reserves of the token when relationship potential hires.

One engineer who requested to stay nameless confirmed CoinDesk a recruiting e-mail from past due 2018 that promised an XRP package deal from Ripple of price as much as $three million, along with a beneficiant wage be offering.

According to the corporate’s LinkedIn, Ripple is having a look to rent greater than a dozen engineers and technical mavens, together with a brand new head of engineering for its xCurrent project, which goals to rival the legacy messaging community SWIFT on the heart of the present world bills infrastructure.

Salaries might range in step with seniority, however in response to conversations with two potential recruits, XRP bonuses for engineers normally vary in price from $1 million to $6 million, in step with the corporate’s personal analysis. As of press time, XRP is buying and selling at more or less $0.30 in line with token.

(Ripple declined to touch upon bonus applications, together with whether or not they’re nonetheless being introduced in 2019.)

One former Ripple worker, who requested to stick nameless for worry of prison retribution, instructed CoinDesk he by no means heard of such XRP bonus applications earlier than 2017. However, he additionally famous beneficiant fairness offers are usual in Silicon Valley.

In September 2018, one potential engineering recruit, who requested to stay nameless as a result of he works at an organization that may at some point collaborate with Ripple, instructed CoinDesk that he additionally won an e-mail from Ripple that stood out as it introduced profitable XRP applications, supposedly price $three million to $6 million. Both engineers lately paintings at top-tier tech firms in Silicon Valley, albeit the second one programmer at a crypto corporate (thus the upper be offering).

Additionally, the e-mail claimed the worldwide marketplace cap of “its [Ripple’s] coin” was once price $48 billion. According to CoinMarketCap, at the day the e-mail was once despatched XRP’s world marketplace cap was once nearer to $13.three billion. The potential engineer recruit instructed CoinDesk he discovered this discrepancy alarming.

Speaking to the peculiar bonus providing that stuck his eye, the nameless engineer stated Ripple is “a very unpopular entity in the crypto sphere among technologists,” so he believes the corporate is “forced to go above and beyond to attract engineers” all the way through the endure marketplace.

Bear recruiting

A Ripple consultant instructed CoinDesk the corporate lately employs more or less 90 engineers and generation mavens, with plans to rent “aggressively” in an effort to increase its tool as a carrier providing plus improve RippleInternet cell wallets and payout processes.

This is a part of an ongoing hiring spree. The corporate consultant stated that Ripple added 100 new staff around the corporate in 2018, including:

“We move fast to acquire the best talent out there – especially considering the highly competitive nature of other startups who want to hire similar candidates.”

Former Ripple group liaison Jon Holmquist instructed CoinDesk that developer salaries and reimbursement are ballooning throughout Silicon Valley. As such, Holmquist stated any hiring demanding situations may well be associated with the wider marketplace downturn, no longer Ripple particularly.

“No one wants to join crypto for the first time during a bear market. I think that’s more of an industry-wide problem,” Holmquist stated. “There’s always a shortage of talent.”

The nameless engineer disagreed, making an allowance for the opposite kinds of recruiting emails he automatically receives.

“This is for a devops role, which is generally harder to find, but these are really big numbers,” the nameless engineer stated, regarding each the wage and XRP bonus package deal. “It comes across a little bit desperate.”

Serial entrepreneur Dave Schukin tweeted remaining June that the corporate introduced him greater than $175,000 as a base wage, which seems in step with the opposite be offering shared with CoinDesk.

In phrases of what Ripple is searching for, the corporate consultant stated they’re recruiting tool mavens with Java or C++ language experience and an plentiful dose of teachability.

“We are not necessarily looking for blockchain experts – we can always teach domain-specific expertise,” she stated. “We also think it’s important that our engineers carry themselves with humility and are able to think creatively about how to solve hard problems.”

Ripple image by way of Shutterstock

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