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Bitcoin Price Crosses the $11K Mark For the First Time Since March 2018

Since the beginning of 2019, Bitcoin price has been on the rise, gaining over 170%. On Monday, BTC price surged past the $11,000 mark, a new high since March 5, 2018. Demand for the coin has been reinvigorated by Facebook’s move to have its own digital currency.

Bitcoin Price Up 13% from Friday to Over $11,300

According to Coindesk’s Bitcoin Price Index, Bitcoin price hit an intraday high at 5.30 am HK/SIN on Monday reaching a high of $11,307.69, which was almost a 13% gain from last week Friday. This is the highest level the coin has reached in 15 months, regaining almost half of the increase that was witnessed in the 2018 bubble burst.

It seems like investors are shrugging off the memories of the burst after the 2018 bubble when the coin hit the $19,000 mark in December 2017. In the course of 2018, Bitcoin price declined until the start of this year where it recorded a record low of $3,000. However, since February, the price has been surging high with growing crypto sentiment as major firms announce cryptocurrency projects.

Since April, Bitcoin price has witnessed accelerated growth, and the surge is being associated with the anticipated Bitcoin halving in August and in 2020, and lesser concerns regarding fraud as well as a change in perception of how the coin is viewed.

>> Bitcoin Price Continues the Bull Run, Nears 5 Digit Mark

Growing Mainstream Adoption Boosting Bitcoin Price

eToro senior market analyst Matt Greenspan says that the market has greatly matured since the last time Bitcoin price crossed the $10,000 mark. He adds that the current surge is justified considering the current levels of adoption.

Currently, there is renewed mainstream adoption of cryptocurrency compared to last year, with Facebook’s Libra being one of the latest cryptocurrency projects. Facebook has partnered with Visa Inc. and Uber Technologies Inc. among other partners to build a cryptocurrency system. Equally, in March, Fidelity Investment rolled out a digital currency trade and custody execution operation.

Featured image: DepositPhotos © aa-w

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Malta

Blockchain Island Malta to Put All Rental Contracts on the Blockchain

Malta has welcomed cryptocurrency with open arms for the last two years—so much so, that several major crypto-related operations have set up shop there. In a bid to become the world’s greatest blockchain island, the company has brought major Asian exchanges Binance and OKEx, as well as Indian exchange Zebpay to its shores.

Now, the jurisdiction is once again putting blockchain technology to good use and embracing it wholly. The Prime Minister, Joseph Muscat, announced yesterday evening that every rental contract in Malta would be registered on the blockchain.

Rental Contracts on the Blockchain

The decision aligns with reformed rental laws that were finally approved by the cabinet after much deliberating.

According to Muscat, putting all rental contracts on the blockchain assures security and prevents tampering. Additionally, the distributed ledger prevents the possibility of there being contracts in place for which there is no record. Muscat has advocated for blockchain technology before, once calling cryptocurrency the “inevitable future of money.”

He furthers:

“We will now be showing people the added value of this technology through applying it to something which they will use in their daily lives […] This shows how the digital transformation will affect their lives.”

The full details of the proposed rent reform are expected in the coming days.

>> Facebook Wasting No Time Developing Recently Announced Libra Coin

Blockchain Island

Malta has garnered the name “blockchain island.” The reason is that it is a favorable jurisdiction for crypto business due to transparent and fair regulations. By positioning itself as a crypto hub, Malta hopes to enhance its economy and infrastructure by bringing in crypto-related business.

The move into the world of cryptocurrencies first came in July 2018, when the country released a relaxed regulatory framework that was favorable to distributed ledger technologies. Malta offers a tolerant regulatory environment, a burgeoning enthusiastic workforce, and EU membership with easy portals across Europe.

What are your thoughts on putting rental contracts on the blockchain?

Featured Image: DepositPhotos © blunker

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Libra coin

Facebook Wasting No Time Developing Recently Announced Libra Coin

Last week, the world received highly anticipated news. After the story circulated through the media ranks for months, Facebook finally confirmed it. Yes, the social media giant has moved into the crypto market, rolling out a cryptocurrency called the Libra coin. While a new venture for the company, Facebook is wasting no time jumping in.

Here’s the latest happening with Facebook and the Libra coin.

Facebook’s Libra Coin Needs Data Engineers

This week, Facebook posted a job description indicating that it’s looking for a data engineer to work at Calibra wallet, which is an app in development for the Libra coin. Of course, this is not the first time Facebook has ventured out looking for new Calibra employes. Two days after unveiling the Libra coin, Facebook posted that it’s looking for a finance program manager for Calibra wallet.

Now, this news is significant for two reasons. In these job descriptions, Facebook hints at future plans for the Libra coin, the Calibra wallet, as well as its involvement in the banking and financial services industry.

“The wallet will be the delivery vehicle for many financial services starting with personal payments, but expanding to online and offline commerce and eventually lending and personal financial management.”

>> Bitcoin Price Crosses the $11K Mark for the First Time Since March 2018

The initial news of the Libra coin is significant as well, considering it has reignited the public’s interest in the industry, sending the Bitcoin price past $11,000 for the first time since March of last year. It has also sent FB stock into the green. At the time of writing, FB stock is trading at $192.96, which puts it up 0.96%.

Takeaway

What do you think about Facebook’s Libra coin? Were you surprised by last week’s revealing? Did you think the company would be moving as fast with the cryptocurrency as it appears to be from these job postings?

Let us know your thoughts in the comments below!

Featured image: PixaBay

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LiteLink Enters Into Strategic Alliance with SPARE to Bring the Virtual ATM Network to uBUCK Customers in the US LiteLink Enters Into Strategic Alliance with SPARE to Bring the Virtual ATM Network to uBUCK Customers in the US

VANCOUVER, British Columbia, June 24, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B)(OTC:LLNKF), a key player in logistics platforms and payment solutions, is pleased to announce that its wholly-owned subsidiary uBUCK Technologies SEZC (“uBUCK”) has signed a strategic alliance with Spare CS, Inc. (“SPARE”) to bring virtual ATM capabilities to uBUCK customers.

SPARE is a mobile ATM app that allows users to convert their digital balance into cash at registered merchants without the need for a debit card, credit card, or a brick and mortar bank.

The agreement will see SPARE provide QR code processing technology to uBUCK, giving uBUCK customers the ability to seamlessly convert their uBUCK into cash at 2,500 participating merchants in Los Angeles.

“We are extremely excited to partner with SPARE, a fintech startup that recently received a vote of confidence in the form of a $500,000 investment from Mark Cuban on Shark Tank,” said uBUCK CEO James Youn. “This alliance will not only provide uBUCK customers with more options for converting their funds, but it also aligns with our goal of serving the unbanked and underbanked communities.”

SPARE gives merchants the ability to convert their cash registers into an ATM, increasing revenue and foot traffic. For customers, it offers a more secure, convenient and affordable option for dispensing cash.

“We see a great opportunity in the strategic alliance with uBUCK, and digital wallets alike, that aim to serve the unbanked and underbanked populations of the world,” said SPARE CEO D’ontra Hughes. “We see such strategic alliances as integral to the widening of services for groups of the population that often pay exorbitant fees for some of the most basic financial services. We are honored to extend our service to users of a platform that can greatly benefit from our network and its ever-growing expansion across the United States.”

About LiteLink Technologies Inc.

LiteLink Technologies Inc.(CSE:LLT)(FRA:C0B)(OTC:LLNKF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. For more information about LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B)(OTC:LLNKF), please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.

About uBUCK Technologies SEZC

Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in decentralized digital payments and wallets. uBUCK Pay and Streambucks are P2P payment platforms offering consumers, businesses and merchants a fast, commission-free and highly secure alternative to traditional payment methods. uBUCK and Streambucks are stable utility tokens that are backed by the U.S. dollar via pin voucher purchases within the uBUCK Pay app or at participating resellers. Customers may load a uBUCK debit card and make online and offline purchases and send payments around the world for free.

About Spare CS, Inc.

SPARE is a cardless, “free to withdraw,” virtual ATM network, that effectively turns any business into an ‘STM,’ or ‘SPARE Teller Merchant’ who support the network by dispensing cash from the point-of-sale system to users who request cash outs from SPARE’s mobile application. The network provides users with immediate access to cash while eliminating withdrawal fees and helps to build community by increasing foot traffic to local merchants and creating peer-to-peer exchange rather than person-to-machine exchange.  Using patented mobile technology, SPARE allows users to enter any participating location and withdraw cash in seconds and for free by tapping their mobile device on the countertop chip reader.  No debit or credit card is required, as users may access funds from a growing range of services which today include any debit or credit card as well as Apple Pay, Google Pay, PayPal, Venmo Debit, CashApp Debit, and Coinbase wallets.

Forward-looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink Technologies Inc. (CSE:LLT)(FRA:C0B) (OTC:LLNKF), and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations.

Please See Disclaimer

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Bitcoin

Bitcoin (BTC) Price Continues the Bulls Run, Near 5 Digits Mark

Bitcoin price has surged this week to a fresh year-to-date high at the back of Facebook announcing that it is creating its own digital currency and payment network. BTC price is currently closing on the psychological mark of $10,000 per coin.

In the last trading session, Bitcoin gained around 7% to $9,766 on the Bitstamp Exchange. Since the beginning of the year, Bitcoin has gained close to 160%, taking the coin to a new year-to-date high.

Facebook’s Announcement Fuels the Rally

The surge in BTC is a result of a number of factors, but it did greatly benefit from Facebook’s announcement of its Libra cryptocurrency, which is a sign that crypto is returning to the mainstream. There are currently hot discussions regarding Libra even though it won’t launch immediately. According to Google Trends data in May, the searches for Bitcoin reached a new 12-month-high following speculation about Facebook’s plan to introduce its own crypto.

In a tweet, eToro analyst Mati Greenspan indicated that BTC price is being driven higher by fundamentals such as additional monetary facilitation from central banks, institutional adoption of cryptocurrency, and the anticipated Bitcoin halving.

>> Breaking Down the Barrier Between Fiat and Crypto

BTC Benefiting from Institutional Adoption

There is increased institutional cryptocurrency adoption with institutions such as Fidelity Investments and cryptocurrency platform Bakkt expected to start using BTC. Bakkt, a Bitcoin futures exchange, is expected to be trialed next month. The adoption of Bitcoin by one of the leading global asset managers is seen as a bullish development in the industry.

The anticipated BTC halving in 2020 will likely tighten the amount of available Bitcoin and this, coupled with growing institutional demand, will result in a supply shock, which bulls are already excited about.

Bitcoin price could also benefit from the move by the Fed to cut interest rates as from next month to increase growth.

Featured image: DepositPhotos © kentoh

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