Rwandan Government to Use Blockchain Tech to Track Conflict Metal Tantalum

Rwanda has partnered with a U.K.-based blockchain startup to trace the mining of the conflict metal tantalum in the country, according to the startup’s press release, published Oct. 16. Rwanda is the world’s leading producer of tantalum, the mineral used in consumer electronics such as smartphones and computers. By using blockchain technology in partnership with startup Circulor, the Rwandan Mining, Petroleum and Gas Board plans to make the production of tantalum more transparent. The press release states that blockchain tech implementation will help “companies comply with the internationally mandated efforts to…

Asian FinTech Completes Ripple Blockchain API Payment

A central-bank approved Malaysian Fintech startup that has specializes in international money transfers has completed its first cross-border transfer on RippleNet, Ripple’s enterprise blockchain platform using an API solution. With a payment from Malaysia to Spain, Kuala Lumpur-based MoneyMatch has completed its first cross-border blockchain transaction, a local report from Focus Malaysia confirmed. The transaction, which enabled a retail user to convert Malaysian ringgits (MYR) to Euros (EUR) at a ‘significantly lower cost’ compared to traditional transfer services was completed in a matter of hours, the remittance firm revealed. In…

US CFTC Official Tackles Accountability in an Era of Smart Contracts

The U.S. Commodity Futures Trading Commission (CFTC)’s Brian Quintenz has addressed the question of accountability in an era of disintermediated finance and smart contracts. The commissioner made his remarks at the 38th Annual GITEX Technology Week Conference in Dubai Tuesday, Oct. 16. Broadly, the commissioner proposed that when it comes enforcement actions, not only users, but the coders themselves may be held to account. Quintez explained: “The appropriate question is whether these code developers could reasonably foresee, at the time they created the code, that it would likely be used…

Blockchain Startup Offering ‘Dynamic Fees’ To Help Users Save Money On Transactions

A blockchain-driven startup believes that blockchain technology has the potential to be more than a “one trick pony designed for investors” – setting the objective of creating cutting-edge technology for fast transactions, and delivering “practical services for real people.” According to ARK, its entire ecosystem has been built around encouraging the mass adoption of cryptocurrency through a user-friendly platform. The company says its team is determined to ease consumers into blockchain by creating easy-to-use tools and products that gradually increase awareness and general knowledge about the opportunities that blockchain technology…

Indian Internet ‘Blockchain Committee’ Attracts Reps From Zebpay, MasterCard, Microsoft

The Internet and Mobile Association of India (IAMAI) is forming a dedicated focus group for blockchain exploration made up of both big business and cryptocurrency players, Indian daily newspaper Economic Times reported Monday, Oct. 15. Confirmed in a tweet Tuesday, the IAMAI, whose remit is to “expand and enhance” the online and mobile sector, will use its “Blockchain Committee” to “identify opportunities and challenges and work with government, industry and startups” to develop a blockchain “ecosystem.” The move comes amid testing times for cryptocurrency in India, with the country’s supreme…

Bitcoin Price Watch: BTC/USD Could Dip and Rip Above $6,520

Key Points Bitcoin price is consolidating below the $6,520 resistance level against the US Dollar. Yesterday’s highlighted key ascending channel is active with support at $6,430 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline a few points towards $6,400 or $6,380 before it climbs higher. Bitcoin price is currently trading in a range above $6,400 against the US Dollar. BTC/USD must break $6,520 to accelerate gains in the near term. Bitcoin Price Analysis During the past few sessions, there was hardly any…

India’s Largest Internet & Mobile Body Forms a Blockchain Committee

In a marked move to advance the development of the domestic blockchain ecosystem in India, the country’s influential internet industry association has formed a committee dedicated to the decentralized technology. With the new blockchain committee, the Internet and Mobile Association of India (IAMAI) is looking to engage with the government, the wider industry and startups in the burgeoning sector to develop the ecosystem, India’s most-read business daily the Economic Times report. A pointed focus is to use blockchain tech to facilitate job creation for the new digital economy in the…

Cryptocurrency Market Prices Could Increase Tenfold by 2020

Cryptocurrency markets could increase ten times over from 2020, blockchain investment firm and hedge fund Pantera Capital’s co-CIO told Bloomberg Tuesday, Oct. 16. Speaking in an interview, co-CIO Joey Krug said that scalability improvements for Bitcoin (BTC) were essential to spark a shift in the deflated prices seen throughout this year. He told the network: “These are all markets, and so if you don’t have scalability, you don’t have market makers.” The comments came days after new developments on the institutional trading side of Bitcoin markets, with Fidelity Investments revealing…

Cardano Price Analysis: ADA/USD Eyeing Upside Break above $0.080

Key Highlights ADA price is holding the $0.0750 support and the 100 hourly simple moving average against the US Dollar (tethered). There is a major bearish trend line in place with resistance at $0.0800 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair remains supported on dips and it could move higher above $0.0800 in the near term. Cardano price is placed in a positive zone against the US Dollar and Bitcoin. ADA/USD may perhaps break the $0.0800 resistance to climb further higher. Cardano Price…

Bitcoin Price Rises to $6,450 as Market Stabilizes, Has Crypto Hit a Bottom?

Over the past 72 hours, the cryptocurrency market experienced one of its wildest fluctuations in recent years, triggered by the sudden increase in the Bitcoin price. The unforeseen decline in the value of Tether (USDT), a stablecoin backed by the US dollar on a 1:1 ratio, led premiums on major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) to materialize, briefly pushing the price of BTC to $7,700. In actuality, the price of BTC on fiat-to-cryptocurrency exchanges such as Coinbase and Bitstamp did not exceed $6,700. Still, the short-term recovery of…