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IBM

IBM Hints at Entering the Stablecoin Arena

Jesse Lund, head of blockchain solutions at IBM, has just hinted that the tech company has plans to explore stablecoins in an interview with Cheddar yesterday. Lund did not disclose when this venture may debut but said it would be on its World-Wire platform.

IBM and Stablecoins

IBM began its venture with Stellar in late-2017 and finalized most of its plans in mid-2018. Stellar is an open-sourced, decentralized protocol that focuses on transfers between fiat currency and digital currency.

Lund told Cheddar that US banks are “very interested” in using stablecoins to send cross-border to replace the current SWIFT system. The reason banks are interested in stablecoins over other forms of digital currency is that stablecoins are linked 1:1 to fiat currencies making them more ‘stable’.

“We’re really feeling excited that we’re on a roll to build something new and revolutionary that’s really going to change the landscape of cross-border payments,” Lund explained.

IBM feels the market demand for stablecoins has risen, despite the copious amount of similar coins that have flooded the market as of late. Lund hinted that IBM hopes to create an ecosystem of various digital assets, with many different types of digital assets—including stablecoins.

>> RAID Project: Bittrex Cancels RAID IEO Hours Before Launch

Cheddar asked Lund how the company’s alleged stablecoin compared to the one that JPMorgan just released. The IBM exec said that the company’s solution to cross-border transactions would be “somewhere in between.” Lund claims that this new venture would not be a proprietary coin like JPM coin but feels the major US bank is doing what’s best for them. The bank’s stablecoin will only be used with clients of JPMorgan.

IBM feels its stablecoin should be more broadly accessible and World-Wire seeks to do just that. When this project will be released is still up in the air, but the recent interview proves it is just around the corner.

Featured Image: Pixabay

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RAID project

RAID Project | Bittrex Cancels RAID IEO Hours Before Launch

Cryptocurrency exchange Bittrex has reportedly canceled an IEO (initial exchange offering) hours before its launch. The RAID project was expected to make $6 million USD by selling its XRD token to customers on the Bittrex exchange.

Canceled RAID Project

Bittrex reportedly called off the token sale after it learned that the RAID project had suddenly terminated its partnership with e-gaming data analytics company OP.GG.

According to Bittrex, the partnership “was a vital part of the RAID project,” Bittrex said in a statement“When Bittrex International became aware of this significant event, we did not feel that it was in the best interest of our customers to move forward with the IEO.

However, OP.GG has claimed that the alliance with RAID was never a sure thing to begin with, stating:

OP.GG has stopped all potential business discussions related to RAID project and there will be no economic and technical cooperation with RAID coin. In addition, OP.GG has no intention of developing any blockchain related business utilizing RIOT GAMES data. OP.GG will take all possible legal measures against individuals or organizations disseminating false facts related to this.”

>> Thai Stock Exchange to Launch Cryptocurrency Platform Next Year

RAID

RAID has claimed that it, not Bittrex, pulled the IEO, saying “it would not be right to proceed as scheduled […] after a discussion with Bittrex, RAID Team came to a final decision to not proceed with IEO.”

Customers who participated in a previous token sale will be issued refunds through Cobak.

The XRD token was created as a means to “give data ownership back to users using blockchain technology” using a game data ecosystem. The token would also be used to develop game-related business, according to the project.

What we know is that the IEO has unraveled along with the relationship between the RAID project and Bittrex. Much remains unclear, however, over the true nature of RAID’s relationship with OP.GG.

Featured Image: DepositPhotos © Piter2121

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Thai Stock Exchange

Thai Stock Exchange to Launch Cryptocurrency Platform Next Year

The Thai Stock Exchange (SET) is planning on rolling out a cryptocurrency platform sometime in 2020. According to SET’s official press release yesterday, the country is “ready for digital transformation.”

Thai Stock Exchange Expands into Crypto

SET President Pakorn Peetathawatchai said that the exchange’s three-year plan would focus on developing a “digital infrastructure platform.” The Thai president feels that this will open up new investment opportunities for investors and will provide more speed and convenience for trade.

The Thai Stock Exchange seeks its new structure to be a “one-stop” digital capital market and will work “closely and collectively” with all stakeholders to build it out. This new transformation for the Thai capital market is said to happen in two stages.

The first stage will be the complete digitization of the current capital market. This includes paperless account opening process with electronic identification verification, direct-debit registration, and electronic payment of stamp duty.

The second stage in the Thai Stock Exchange revamp is building a brand new ecosystem that will support digital assets. The FundConnext mutual fund platform—currently connected to 19 asset management firms in Thailand—will eventually be linked with Vestima. Vestima is a global fund processing platform operated by Clearstream. The new FundConnext will connect investors in 56 different countries to the Thai Investment Fund.

>> Bitcoin Price: Today’s Market Leaders and Deceivers—BTC, BCH, ETH

“SET stands ready to build and operate the capital market that is underpinned by trust,” added Pakorn.

SET’s moto in the press release is “SET… Make it ‘Work’ for Everyone.”

News of the new venture with the Thai Stock Exchange was released in mid-January 2019 by the Bankok Post. Yesterday was the first time that SET officially commented on the matter.

While interest in cryptocurrencies may be down from its peak in late 2017 and early 2018, it seems that exchanges still see demand for digital currencies.

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Bitcoin price

Bitcoin Price | Today’s Market Leaders and Deceivers

Checking in with CoinMarketCap, it is clear to see that the majority of the crypto market is in the green. Though the gains are small, 80% of the top 10 coins by market cap are on the rise. Market leader Bitcoin price is up only 0.46% at the time of writing, selling for $3,924 USD per coin—but up is up.

Bitcoin Price

Last weekend, Bitcoin (BTC) came close to breaching the important $4k resistance mark. Bulls were hopeful as Bitcoin price reached a month high of $3,978 USD on March 9th.

Going back to the tail-end of February, Bitcoin skyrocketed to $4,198 in a 24-hour period. Certain prominent bulls such as Brian Kelley spoke out in favor of the coin, and this helped a surge. However, ever volatile, the gains did not last, and Bitcoin slumped the following day back to $3,810 approximately.

Now, at $3,924 USD, it is nearing that stable $4k mark once again but whether it will get up, over, and stay above the hump remains to be seen.

Overall, the last seven days have shown momentum in favor of the bulls. Bitcoin price has maintained its value around the $3,900 mark and has yet to experience any significant decline or sudden correction.

Bitcoin Cash

The day is still young, but Bitcoin Cash (BCH) is leading the top ten with a 4.7% jump at the time of writing. There is no market news to attribute this gain too. It seems in a quiet market, this is simply the work of zealous bulls as BCH breaks above the resistance at $135.

At the time of writing, Bitcoin Cash is selling for $135.03 but with significant dips throughout the day already, it is questionable if BCH can maintain its position above the critical resistance level.

>> Coinbase Upgrades: Wallet App and OTC Desk Get Improvements

Ethereum

Elsewhere, Ethereum (ETH) is having a hard time gathering momentum. It is selling for $133.64 USD, up 0.29% at the time of writing. ETH hit a low of $130 this week, amidst a week where the coin has continually declined.

Are you surprised that Bitcoin price is in green? It has been quite stable in recent weeks; will it last?

Featured Image: DepositPhotos © KostyaKlimenko

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MPWR

MPWR Crypto Summit Confirms Millennials Will be Enhancing The Digital Space

Vancouver, BC. March 13th 2019 – – The topic of misinformed crypto practice and where the future of cryptocurrency is heading was a common theme during Monday’s MPWR Crypto Mining Summit 2019. Wes Fulford, CEO of Bitfarms and Dina Matterson, BC Hydro representative, brought forth the powerful concept of millennials leading the multi-layered space.

MPWR
Wes Fulford, CEO of Bitfarms

Fulford presented the idea that generation Y captivates a new buying behaviour, encouraging the crypto currency pattern to progress, adapt and enhance to a playing ground understood by society. Bitfarms has initiated a partnership with the students of École De Technologie (ETS) in Montreal, towards developing new applications and growth in the industry.

“BC is a great place for mining companies that are looking to supply their operations with low cost and clean power. We ensure clean energy resources fulfill future demands and initiatives” BC Hydro’s, Dina Matterson says. The clean energy topic is an increasingly important subject to the next generation. It is an important puzzle piece to educating ourselves on the crypto currency landscape and leading with green practice in mind.

—-

MPWR
Dina Matterson, BC Hydro

Wes Fulford, Canadian powerhouse and CEO of BitFarms, which is one of North America’s largest vertically integrated blockchain infrastructure and cryptocurrency mining companies. Prior to joining Bitfarms, Wes led the financial institutions and fintech investment banking practice for one of Canada’s largest financial institutions, Desjardins Group, and during his career has led over 100 successful financings and M&A transactions.

Dina Matterson is a Business Development Manager with the Business & Economic Development team at BC Hydro. Dina works to proactively attract new customers to British Columbia by identifying the barriers to locating in B.C., and working collaboratively with key BC Hydro business groups, governments and non-government organizations to develop solutions to remove those barriers.

____________________________________________________________________________________

About Blockchain Infrastructure Research

Blockchain Infrastructure Research is an independent research company specializing in cryptocurrency mining infrastructure. BIR provides clear, up-to-date information for major institutional investors, developers, and government organizations in support of: facilities location and design, energy management, hardware selection, supply and value chain management, regulation compliance, operations security, and understanding market and price trends.

With its team of clean energy engineers, the firm has significant expertise in identifying power solutions for medium and large scale mining operations. For more information on BIR visit www.biresearch.ca

For all media enquiries and additional information, please contact:

Director of Media Relations
Jalila Singerff
e: jsingerff@biresearch.ca m: 613.614.6777

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