IBM Launches Stellar-Based Blockchain Payments Platform

Computing giant IBM has launched a blockchain-based financial solution that it says has the potential to completely upend the existing status quo in global payments and remittances. The new solution called ‘IBM Blockchain World Wire‘ combines the Stellar blockchain with digital assets to make instant money transfers possible of a guaranteed value possible. In July, CCN reported that IBM backed a dollar-pegged stablecoin issued by Stronghold on the Stellar network. In the same month, IBM announced that it was involved in an environmentally friendly crypto project also built on Stellar. The new Stellar-based platform…

No Go on a Cryptocurrency Trading Desk

Goldman Sachs (NYSE:GS) has finally clarified that a cryptocurrency trading desk is not in its plans for the foreseeable future. Some investors must feel downtrodden about this news. Let’s find out what’s going on. Cryptocurrency Trading Desk? The Goldman Sachs Rumor Mill The rumor mill has been churning for some months now; it was believed that Goldman Sachs had been making significant progress toward establishing a direct crypto trading desk. But what started this game of crypto telephone? Well, catalysts for the rumor go back to 2017 and began when…

Iran Crypto | The Iranian Government Finally Recognizes Cryptocurrency

Iran’s Supreme Cyberspace Council Secretary, Abolhassan Firoozabadi, just revealed that various entities within the country’s government have accepted cryptocurrency mining as an industry. The local news agency IBENA reported the Iran crypto news just this morning. According to this report, Firoozabadi stressed that the mining of crypto has been approved, but a legal framework for the industry has yet to be properly introduced in the country. Iran Approves Crypto “The issue that is of great importance is the commitment and acceptance of the cryptographic currency extraction as an industry by all…

BTCUSD Breaks Rising Wedge Support

Against every bullish expectation, bitcoin price finally lost its latest upside today to growing bearish pressure. The BTC/USD on Wednesday plunged as much as 7 percent. The pair seemed to have overstayed its welcome near the resistance of our Rising Wedge channel. There was absolutely no buying sentiment visible around the area in the past three days. The early Asian session saw to it and started crashing the value. By mid-Asian and early-European session, BTC/USD had crashed from its intraday high near 7400-fiat to a new intraday low towards 6902-fiat.…

Cryptocurrency Market Cap Drops by More than $17 Billion

A widespread bearish correction across the cryptocurrency market led to losses worth more than $17 billion. Almost all the top coins, including Bitcoin, Ethereum, Ripple, and EOS, contributed to the crash. While Bitcoin dropped as much as 5 percent against the USD, altcoins including EOS, Bitcoin Cash, Litecoin, Monero, Ethereum, and Ripple each experienced double-digit losses. Stellar, at the same time, looked like the winner of the least bearish altcoin among the top ten cryptocurrencies, recording losses of over 6 percent. Bitcoin Cash, EOS the Worst Performing Altcoins Among Top Coins…

Andy Warhol’s Multi-Million Dollar Painting Tokenized and Sold on Blockchain

In a world first, an artwork worth millions of dollars has been tokenized and sold on blockchain. 14 Small Electric Chairs, a two-meter high painting by the late renowned American visual artist Andy Warhol, was sold on blockchain-based art investment platform Maecenas to 100 participants. Approximately US$1.7 million was raised in the cryptocurrency auction for a 31.5% stake of the artwork whose total valuation was US$5.6 million. More than 800 bidders signed up for the auction which was conducted entirely using a smart contract. The bidders were mostly drawn from…

Turkey’s National Stock Exchange Builds Blockchain Database Platform

Borsa Istanbul, Turkey’s state-backed stock exchange, has announced the development of a blockchain platform that will store details of new customers and share documents on a decentralized network. In an announcement on Wednesday, the bourse operator said the blockchain platform was developed in-house to accommodate Know Your Customer (KYC) norms, registering new customers and the sharing of information and documents securely in a ‘fast, reliable and transparent platform’. Notably, the blockchain platform has already enabled a number of entities including the national depositry, the clearing and settlement authority as well…

EU Lawmakers Weigh ‘Standard’ for ICOs Under Crowdfunding Rules

Members of the European Parliament held a meeting on Tuesday to discuss a proposal that, if approved, would create new regulations on initial coin offerings (ICOs) held within the economic bloc. The All-Party Innovation Group within the EU Parliament met to examine the potential benefits and issues with rules for ICOs that would form part of a wider crowdfunding framework. As CoinDesk previously reported, the proposal was written by Ashley Fox, a Member of the European Parliament (MEP). Fox called for an 8 million euro cap on token sale proceeds…

Ripio Rolls Out Crypto-Powered Loans Across Latin America

Here’s something you don’t see every day: an ICO that has actually led to a shipped, working financial product. Revealed exclusively to CoinDesk, Argentinian startup Ripio is making peer-to-peer microloans available today to all its 200,000 bitcoin wallet users in Argentina, Mexico, and Brazil. The Buenos Aires-based company raised $37 million in an initial coin offering (ICO) last year to build the Ripio Credit Network, which matches individual lenders and borrowers across the globe through ethereum smart contracts. Today’s full rollout of that marketplace follows a closed beta in which more than…

Civic to Spend $43 Million In Tokens In Aggressive User Expansion

Like all crypto projects, Civic, the pioneering blockchain-powered identity startup, needs people, lots of people, using its platform. And, according to Civic founder Vinny Lingham, while the technology is all in place for the system to work, it’s this network of users that the company is still struggling to achieve. In an effort to spur this adoption, Civic announced Wednesday that it will be paying for all identity checks for users and business partners from now until the end of the year. Well, at least, $43 million worth. All told,…