Regulatory Maturity Will Drive Bitcoin Bullish Momentum, Says Analyst  312

Octagon Strategy, one of Asia’s largest digital asset brokerages, remains bullish on Bitcoin despite the recent downward trajectory that pushed the price below the $6,000 barrier last Friday. The company’s head trader told CNBC yesterday that a progressively formalized landscape will eventually drive prices higher.

Octagon Strategy Says Formalized Landscape to Drive Bitcoin Price Higher

Ryan Rabaglia, Head Trader of Octagon Strategy since 2015, a recent guest at CNBC’s cryptocurrency segment ‘The Coin Rush‘, explained his and the company’s long position on Bitcoin. The privately-owned commodity and digital asset trading firm is not worried about the downward push felt since all-time highs at the $20,000 area in mid-December 2017.

“I think it’s more interesting to remember where we came from in this market and year [on] year we’re up well over one hundred percent,” he told the network.

The time frame of the price analysis has been a common place for discussion. Bitcoin critics and bears usually point to specific periods where Bitcoin does fail to perform well. The year of 2018 so far has been disappointing for the cryptocurrency community. However, a broader view of price fluctuation provides more insight to the investor. A year-over-year analysis allows a trader to conclude there has been an overall bullish trend.

While Bitcoin dropped below the $6,000 mark for the third time in 2018, Rabaglia is confident that the price of Bitcoin will be buoyed by government regulation across the globe as a more formalized landscape is able to attract institutional investors and businesses to the ecosystem.

The regulatory maturity of the ecosystem is likely to drive the price of Bitcoin higher, according to Rabaglia, who finds that mainstream media and finance sources have contributed to the bearish sentiment over the future of Bitcoin and the cryptocurrency movement.

“I sort of look at it as a double-edged sword. The uncertainty that’s driven around this regulation is what gives pressure to this market and drives it further down as people don’t know exactly where it’s going to end up”, he stated. “At the same time that same topic is going to be what’s going to drive it higher in the end. Once we actually establish that regulation, the professional and traditional players that are going to be entering the market…are going to get that support from regulators.”

Coming from another downward push below the $6,000 line last Friday, Bitcoin has been quickly recovering strength. The milestone price was reconquered on Saturday and the market is now adding gains as it presses towards $7,000.

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When Projects Are Real – Why “CryptoUnit Scam” Claims Are Unfounded 6745

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The crypto universe is filled with painful examples of projects that have proven to be scams. The arrival of a new player on the market is immediately met with deluges of accusations and rightful suspicion. The same applied to the CryptoUnit project, which was immediately greeted with the “CryptoUnit scam” branding.

However, after careful analysis, it becomes clear that the claim “CryptoUnit scam” does not hold up, as the project is developed by legitimate specialists with noble purposes and a real value offering. The first reason why “CryptoUnit scam” does not manage to be a true statement is because the project is developed by specialists in the investment industry with more than 20 years of experience. Such expertise and the backing reputation does not allow the founders to be eligible for scams, and such schemes. It is simply unprofitable for both the present and the future to be involved in illicit schemes.

The CryptoUnit program is a financial undertaking that provides anyone a unique opportunity to become co-owners and shareholders of a major fund, which is a financial program operating in every investment market segment. The creator of the Global Program is professional investor Andrei Khovratov, the founder of the immense community of the New Economic Evolution of the World, NEEW. The CryptoUnit Security Tokens (CRU) that will be issued as part of the CryptoUnit program are digital counterparts of securities based on the Security Token Offering model with underlying blockchain technology and smart contracts. The reliance on the STO model for the placement of tokens will ensure complete compliance with international legal norms.

Participation in the program gives participants access to assets that are currently valued at $404 million. The funds raised as part of the CryptoUnit project will be used to expand the existing portfolio with other profitable investment instruments. The combined participation in the CryptoUnit program will allow holders of CRU tokens to partake in the profit sharing of the portfolio’s revenues.

The Global CRU Program currently includes more than 60 financial instruments from various segments of the investment market. Venture capital, precious metals, banking sector, the stock market, cryptocurrencies, equity participation in business, culture, real estate, and precious stones are all part of the investment portfolio. With a total investment of about $51 million, the Global Investment Portfolio has a capitalization of more than $379 million.

Part of the profits from the assets of the Global Investment Portfolio will be directed at the payment of Profi-Bonuses for all investors of the CryptoUnit program. After the issuance and registration of CryptoUnit CRU tokens, token holders will receive dividends in the amount of 8 to 35% of the total profits of the portfolio.

EMURGO Partners with Online Travel Agency Travala.com to Drive the Adoption of Cardano’s ADA 7168

EMURGO, a global blockchain solutions provider & a founding entity of the Cardano protocol, announces its partnership with Online Travel Agency (OTA) Travala.com – the world’s leading blockchain-based travel booking platform trusted by customers worldwide. This partnership will enable travelers to easily book hotels & travel accommodations worldwide using Cardano’s native cryptocurrency ADA on Travala.com’s online platform. As the official travel partner of EMURGO, Cardano ADA users will also receive 10% cashback for all hotel bookings made with ADA until July 31.

This partnership will be an additional, substantial step forward with regards to EMURGO’s mission to drive the adoption of ADA, as economies reopen and travel restrictions are lifted. This will further provide value to the core ADA community, as well as the larger cryptocurrency communities.

Through Travala.com’s existing partnership with digital travel company Booking.com to integrate accommodations listings, Travala.com currently offers 2,000,000+ bookable properties across 90,000 worldwide destinations in 230 countries and territories, at competitive prices up to 40% cheaper than mainstream travel booking platforms.

Travala.com users are able to seamlessly pay for their travel bookings with Cardano ADA in addition to 28 other accepted cryptocurrencies and traditional online payments.

“As global travel begins to gradually resume, EMURGO is excited to partner with Travala.com to bring functional utility to Cardano ADA users. Being able to book flights, hotels, and other travel accommodations with ADA at over 2 million properties in 90,000 international destinations demonstrates EMURGO’s focus to drive real-world Cardano adoption,” said EMURGO CEO Ken Kodama.

“We’re extremely excited to partner with an industry titan to boost ADA adoption. Travel is the ideal venue for mass adoption of cryptocurrencies and as we all start to travel again, Travala.com will continue to provide a frictionless travel booking experience to anyone, anywhere,” said Juan Otero, Travala.com CEO.

According to recent data provided by Travala.com, 60% of all bookings on the platform in the last twelve months have been paid in cryptocurrencies. Over the past six weeks, there have been more than 20% week-over-week growth in total bookings, pointing towards a gradual recovery in the travel industry from the global COVID-19 pandemic. The most booked travel destinations with cryptocurrency payments to date have been the U.S., Thailand, and Australia.

VeChain Powers DNV GL’s My Care: A Hospital-grade Infection Risk Management Solution 6579

With the COVID-19 pandemic threatening individuals and businesses worldwide, infection risk management has been a tough challenge. To help companies better handle this problem, DNV GL, one of the world’s largest assurance companies with over 15,000 professionals globally and over 110,000 customers, has designed, developed and released a blockchain-enabled infection risk management solution called My Care, which aims to assess, manage and mitigate infection risk in management processes, business dealings and operations for enterprise users.

This new initiative and product by DNV GL will be enhanced and powered by VeChain’s blockchain technology. In particular, the VeChain ToolChainTM BaaS Platform will be used to support DNV GL to launch this brand-new digital product in a rapid lead time.

First enterprise level customer to take advantage of this new solution is Viking Line, a publicly traded shipping company with an annual revenue of ~EUR 500 million. On June 17th, 2020, the company Viking Line announced to use My Care. More companies are expected to be on-board as DNV GL expands the scope of the product and enterprise adoption efforts.

VeChain Enhances DNV GL’s Digital Transformation Strategy

Since the announcement of our strategic partnership in January 2018, the collaboration between VeChain and DNV GL has been progressively promoting the adoption of blockchain to help enterprises bolster the transparency and trust between their customers and products. VeChain has been the infrastructural technology behind the various blockchain powered initiatives offered by the DNV GL portfolio of services.

By using VeChain ToolChainTM, DNV GL took the first step in May 2019 to develop its My StoryTM, a digital assurance solution that aims to track each stage of a product’s manufacturing cycle with the use of blockchain technology. My StoryTM is just one of the many different VeChain-powered services that DNV GL offers.

My Care To Assist COVID-19 Infection Risk Management

As the world grapples with COVID-19, managing infection risk requires a new approach to disease control and prevention, and new operating procedures and assurance practices would need to be introduced. This led to the introduction of My Care to assist companies on preparedness and readiness of infection risk management.

With the combination of standard templates, customizable tools, data value visualization tools and third-party certification services, VeChain ToolChainTM has been the technical foundation for different digital solutions. DNV GL’s My Care is another one of them that will utilize the VeChainThor blockchain for all data related purposes.

A Hospital-Grade Solution To Resolve COVID-19 Pain Points In Enterprises

The My Care methodology is derived from the approach DNV GL applies to assess infection risk management in hospitals. The solution is a suite of independent assessment services designed to help businesses reassure stakeholders that they have put infection risk management at the core of their risk management strategy. It brings together aspects of DNV GL’s healthcare standards, best practices in risk management, HSE (health, safety, and environment) and quality management systems and maturity safety rating standards.

For customers and other stakeholders, scanning the QR-code embedded in the My Care trust mark will provide users access to DNV GL’s assessment statement. These assessment statements are stored on VeChainThor blockchain, providing added trust and integrity. With blockchain, businesses can be assured that their infection risk management and best practices is effectively communicated to customers.

For enterprises looking to return to business, My Care’s holistic approach affirms its capability to manage and prevent infection risks, including COVID-19, enables readiness to deal with infectious diseases today and can drive lasting changes that build long-term business resilience.

Blockchain Powered Solutions To Further Expand On A Global Scale

As a major emerging technology in various industries, blockchain is quickly bringing about further digitization in the business world, which is an opportunity for both VeChain and DNV GL to further enhance our strategic partnership and facilitate business growth.

VeChain ToolChainTM has been receiving acknowledgement from various industries as a solution for persistent problems that hold back business growth, such as sustainability management, supply chain optimization, responsible manufacturing, and real-time asset flows.

Sunny Lu, co-founder and CEO at VeChain stressed, “As we contend with the new normal due to COVID-19, the demand for trust has never been so important. Blockchain will be one of the driving forces to increase confidence in data integrity, business credibility, and mutual trust in multi-party collaboration. With VeChain ToolChainTM, we have great confidence to support DNV GL’s digital transformation strategy to develop more digital solutions like My StoryTM and My Care to expand and improve their offerings to serve their clients worldwide.”

Lower Power Costs Becoming Essential Component for Profitability of Digital Mining Operations 8169

The rise in popularity of digital mining and the underlying blockchain technology presents both challenges and opportunities to the energy sector. Cryptocurrency mining is a difficult and costly activity. Miners must pay to build ever increasing bigger rigs capable of vast amounts of processing power, and then the rigs themselves must be powered with large quantities of electricity.

Companies with the access to electricity resources have a huge ‘leg-up” on their competition… so the race to acquire sources of inexpensive electricity can be a life-or-death situation for the mining facility. Many installations actually decide where to build their facilities based largely on the local availability of energy production facilities. As a result, the largest mining operations are springing up in parts of the world with cheap electricity, like China. In 2018, the state of Washington, by some estimates, hosted 15%- 30% of all Bitcoin mining operations globally due to availability of less expensive power sources. The cost matters! Profitability in a large part, relies upon how much their electricity costs… and IF they can even get all that they need.

An article in The Economist said: “BITCOIN has been alarming people for years because of the amount of electricity needed to mint new virtual coinage. Alex de Vries, a bitcoin specialist at PwC, (estimated) that (in 2018) the… global power consumption for the servers that run bitcoin’s software is a minimum of 2.55 gigawatts (GW), which amounts to energy consumption of 22 terawatt-hours (TWh) per year—almost the same as Ireland. Google, by comparison, used 5.7 TWh worldwide in 2015. What’s more, bitcoin “miners” consume about five times more power than they did last year, and orders of magnitude more than just a few years ago—and there are no signs of a slowdown.

An article in VOX added: “As the value of the digital currency has climbed, so has the amount of energy needed to keep this online economy running, which… exceeds the energy use of (over) 159 individual countries…”. All indicators seem to project that it will continue to grow in the years to come.

“We are very pleased to be working with an experienced, professional group such as Block One Technologies,” said Stephen Jenkins, President & CEO of Link. “This partnership allows Block One to access our existing power assets in order to conduct its digital mining operations more cost effectively, while also allowing us to expand our current business operations. While this is the first formal agreement between Block One and Link, the companies intend to pursue future agreements that will play an important role in Link’s growth strategy.”

Bijan Alizadeh, Founder & Chairman of Block One, commented: “By working with Link, Block One can take advantage of the competitive energy prices Link offers, while continuing to expand our digital currency mining operations. We have deep expertise in the digital mining space and partnering with Link on power supply makes a lot of sense for us and our clients.”

KPMG LLP Launches KPMG Chain Fusion To Help Manage Crypto And Traditional Assets Over Public And Private Blockchain Networks 9672

KPMG LLP has launched KPMG Chain Fusion, a patent pending suite of advanced analytics capabilities, built on leading cryptoasset data & technology products to streamline the ability for financial services companies and fintechs to offer cryptoasset services on an institutional scale.

KPMG Chain Fusion helps clients address complex, foundational problems facing organizations competing in the institutional cryptoasset market. The technology infrastructure, operational mechanics and inherent risks are fundamentally different than traditional systems supporting financial services companies and fintechs. These differences present significant challenges to accurately and completely aggregate data from different technology environments in order to meet internal and external expectations, including expectations for customer account management, anti-money laundering (AML) and security.

At its core, KPMG Chain Fusion leverages a structured data model to combine data originating from blockchain infrastructure and traditional systems in support of analytics for business, risk and compliance objectives.

KPMG Chain Fusion was designed to help clients address considerations from regulators across the globe focusing on the integrity of control environments to support business objectives for accurate financial reporting and technology objectives for security, availability and processing integrity across both traditional and blockchain systems.

“Regulators and auditors expect fully implemented controls and processes within and across a cryptoasset business – whether they are cryptoasset or traditional systems or anything in between.  If you are a blockchain or digital asset based business, you will have separate systems for everything,” said Sam Wyner, director and co-lead of KPMG Cryptoasset Services team.

The capabilities and accelerators are designed to help address these considerations by supporting companies to achieve seamless and trusted adoption of core crypto business capabilities, enabled by leading technology products for data, custody and infrastructure.  The core also enables organizations to overcome challenges including: cryptographic proof of assets under custody, deployment and integration of core custody capabilities such as multi-party computational cryptoasset wallets, and transaction monitoring for AML.

“There is a fundamental difference in technologies required to integrate– whether it be a permission or permissionless blockchain or a traditional front, middle and back office system,” said Wyner.

With KPMG Chain Fusion, KPMG has built capabilities to integrate and enable these systems.

Many financial services institutions and fintechs are already offering cryptoasset services. At the same time, there is an increased adoption of traditional businesses offering cryptoasset capabilities and services for assets on both public, permissionless and permissioned blockchains.

“Leading cryptoasset technology solutions can address process and control requirements within their own systems, but the greater challenge is making sure systems can work together, with all the right processes and controls in place between those systems,” Wyner explains.

“KPMG Chain Fusion addresses those challenges by bringing these systems together with the required processes and controls under one roof.”

Authenticiti Secures Additional Funding to Transform B2B Supply Chains with Blockchain 11882

Authenticiti, a blockchain-enabled supply chain platform, announces it has secured additional funding from leading technology investors. The round was led by Gravity Ranch, with participation from Holt Ventures, SRI International, and existing investor Scopus Ventures. Authenticiti platform is the single-source-of-verifiable-truth for supply chain management, connecting data from siloed systems in real-time. As supply chains struggle to adapt during uncertainty, companies need to optimize existing fragmented supply chain infrastructures.

“With applications deployed for specific needs, most supply chain infrastructures today are a labyrinth of data, tools, and processes,” said Andrew Yang, CEO and Co-founder of Authenticiti. “This complex environment is riddled with manual steps and spreadsheets. We provide a solution to effectively connect and manage next-generation supply chains.”

Unlike most legacy supply chain solutions, Authenticiti is an overlay that works without replacing existing infrastructures. The advantage of this approach, the users gain visibility and control, regardless of their backend ERP, logistics, or accounting system. With blockchain, manufacturers gain a real-time ledger of trusted transactions and can run operations with greater accuracy and risk management. “There is a need for a seamless overlay that connects supply chain vendors and legacy systems in a codeless, easy way that builds trust without ripping out existing systems. And that’s exactly what the Authenticiti team has built,” said Eran Gilad, Managing Partner at Scopus Ventures.

Authenticiti platform is packaged in a lightweight container, allowing quick deployment to any IT environment. It also leverages key sharding encryption combined with blockchain infrastructure for highly secure and federated data sharing.

“There are enormous amounts of redundancy and cross-checking in supply chains today. Authenticiti’s platform comes at a time when there is an opportunity to reset supply chain systems that have relied on outdated processes,” said Meg Paulus, Partner at HOLT Ventures, the venture capital arm of HOLT CAT, the largest Caterpillar heavy equipment and engine dealer in the USA. Michael Downing, Founding Partner at Gravity Ranch Venture Fund explains, “We invested in Authenticiti because a blockchain-enabled supply chain will securely automate and streamline key operations, as it synchronizes data efficiently to save millions in operating costs, and this perfectly aligns with our investment model that fuels change.”

Founded in 2016, Authenticiti has helped companies across different industries such as aerospace, manufacturing, mining and insurance, with operational advancements and millions in savings annually. The company is headquartered in San Francisco with an engineering office in Toronto, Canada. https://Authenticiti.io/