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China To Release Three Blockchain Standards This Year

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China to release three Blockchain standards by the end of this year
China To Release Three Blockchain Standards This Year

 

The government-backed China Electronics Standardization Institute (CESI) under the Ministry of Industry and Information Technology (MIIT) is about to release three Blockchain standards for smart contracts, privacy and deposits. They will be issued in order to guide the development of the industry in China.

The standards, which will be association-based, are expected to be released by the end of the year. Li Ming, director of the Blockchain research lab at CESI, said that the association-based standards will serve as a foundation on which national and international standards can make reference to or be based on.

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"The Blockchain is gradually being accepted, and more and more people are beginning to recognize, invest in or use Blockchain. But at the same time, many people are skeptical and international standards are needed," said Craig Dunn, chairman of the International Standardization Technical Committee for Distributed Ledger Technology during a recent Blockchain conference in Shanghai. "At present, more than 50 countries are participating in the development of Blockchain standards, including China."

Li Ming said that the standards are recommended, not mandatory, and are drafted as a reference guide.

Recently, China’s IT ministry emphasized the need for developing of such standards at the soonest possible time.

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John McAfee Says Exactly When Bitcoin Will Hit $1 Mln, IBM’s Jesse Lund Goes for More Modest Forecast

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A major figure in the crypto industry predicts that Bitcoin will reach $1 mln in 2020, John McAfee even gives an exact date
John McAfee Says Exactly When Bitcoin Will Hit $1 Mln, IBM’s Jesse Lund Goes for More Modest Forecast
Contents

As 2019 is advancing, the Bitcoin rate is gradually rising too. This is giving grounds for various discussions and predictions. Some of them, given by leading figures of the crypto world are as big as a million USD. Everyone already seems to have forgotten the prediction of JPMorgan given earlier - $2,400.

The other day, John McAfee spoke about Bitcoin getting to be $1 mln once again. No dick eating on TV was promised this time.

IBM Blockchain got there first

It was John McAfee who first predicted Bitcoin to hit $1 mln. Now he has also given an exact date when this will happen – December 31, 2020.

However, McAfee predicted this after Jesse Lund had – the VP of IBM Blockchain. In an interview the other day, Lund also went positive on Bitcoin, saying that in his view BTC will reach $1 mln mark sometime in the future. He pointed out that this would give a total change for the world’s finance system.

Lund believes that when Bitcoin price turns $1 mln, then each Satoshi will be worth one penny. Thus the Bitcoin network will provide more than $20 trl of liquidity into the global economy and this promises tremendous changes to the world’s industry of financial services.

By the end of 2019, Lund believes BTC will reach $5,000 and he expects it to rise to the $1 mln level in the future, without giving any exact dates.

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IBM’s transnational DLT system for payments

In the interview, Jesse Lund also spoke about IBM’s blockchain system for international payments – Blockchain World Wire – saying that it may support more than just one crypto coin. He named, Bitcoin and XRP but also stablecoins and virtual tokens emitted by central banks.

The new payment system intends to work in over 50 countries and offer 30 or 40 crypto coins for customers to use. It plans to cooperate with about 3 or 4 dozen international banks.

The company plans to roll out their network to operate around the whole globe within three or five years.

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BitMart Exchange Teams Up with Paxful to Give Its Customers More Benefits

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Crypto trading firm BitMart spreads word about its new partnership with P2P exchange Paxful, both firms intend to gain more scalability and liquidity
BitMart Exchange Teams Up with Paxful to Give Its Customers More Benefits
Contents

BitMart has publicized its integration of Paxful’s Bitcoin trading service. This will enable clients of BitMart to get more payment features. Also, customers of Paxful will be able to use BitMart and trade its almost 200 crypto pairs.

Benefits of this collaboration

The reps of the firms state that this cooperation will allow improving customer experience by giving users more trading opportunities.

BitMart founder and CEO Sheldon Xia has mentioned that partnering with Paxful will enable the exchange to attract new customers who previously had no access to crypto trading.

BitMart started off two years ago. This crypto exchange is located in the Cayman Islands, but it operates branches in the US, South Korea, etc. The platform officially has nearly 700,000 clients, and its trading volume exceeds $70 mln per day.

The CEO also added that working on one team with Paxful will let users have a better choice of payment options – gift cards, bank transfers, etc.

About Paxful

Paxful is a decentralized marketplace where one trader can buy BTC directly from another. Users there add their adverts about selling BTC and mention the way they wish to be paid.

As soon as the buyer conducts a payment, he or she receives their Bitcoin from escrow directly into their Paxful storage space. Those who purchase pay no fees to the platform. It takes 1 percent of each deal from sellers.

The company reports it has one million active users from around the world on a daily basis.

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Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

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Coinbase claims that this addition is an important step towards creating the leading cryptocurrency wallet on the market
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP
Contents

Coinbase Wallet now allows its users to directly store Litecoin (LTC) in the app. Thus, the fifth biggest asset by market capitalization joins Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ethereum Classic (ETH) on the list of supported cryptocurrencies.
Litecoin (LTC) Now Supported by Coinbase Wallet, Users Ask to Add XRP

The rollout is coming in a few weeks

The blog post states that Coinbase Wallet users will be able to download an update with Litecoin support in a few weeks on the App Store or Google Play Store respectively. Litecoin support will be available from the get-go once the app is updated. You will simply have to choose the ‘Receive’ option on the main wallet page in order to deposit LTC to your wallet.

Coinbase keeps snubbing XRP

The announcement was flooded with tweets from users asking Coinbase to add XRP. Everyone’s favorite remittance and settlement token is nowhere to be found on the roster of supported digital coins.

However, XRP was added to Coinbase Custody in November 2018, so one shouldn’t exclude the possibility that the crypto behemoth will eventually fully embrace this asset.  

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Should Warren Buffett Invest in Bitcoin (BTC)? Anthony Pompliano Definitely Thinks So

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There is a ‘snowball in hell’ possibility that Warren Buffett, an ardent Bitcoin hater, will actually invest in Bitcoin
Should Warren Buffett Invest in Bitcoin (BTC)? Anthony Pompliano Definitely Thinks So

It’s been more than three years since Warren Buffett’s last big acquisition (which he likes to call ‘elephants’). As the 89-year-old billionaire is mulling over his next big buy, crypto evangelist Anthony Pompliano suggests that he could purchase Bitcoin (BTC).

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Warren Buffett's Berkshire Hathaway has a whopping $116 bln to spend, but he simply cannot find the company that would fit the set of his criteria. While Buffett is on the hunt for his next big target, Pompliano claims that Bitcoin would be his best bet. The number one cryptocurrency, according to Pompliano, will be able to generate more profit than all of Buffett’s investments for the next decade.

Wishful thinking

Pompliano’s comment was most definitely sarcastic given that the Oracle of Omaha is a well-known Bitcoin hater. Back in May, after the crypto bubble popped, Buffett called Bitcoin ‘rat poison squared.’ He also claimed that BTC is an asset that ‘doesn’t produce anything.’ Buffett’s vitriolic comments didn’t go unnoticed — as reported by U.Today, Genesis Mining trolled the billionaire with pro-Bitcoin billboards outside of his office.

Wishful thinking

Pantera Capital’s Dan Morehead also wasn’t a fan of the ‘rat poison’ remark, calling banks and credit card companies the rats.

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Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

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Coinbase CEO Brian Armstrong has left comments on Twitter saying he reckons QuadrigaCX did not plan an exit scam
Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud
Contents

On Thursday, Brian Armstrong, the head of the US-based crypto exchange Coinbase, contributed to the numerous discussions that have been centered on the subject of the recent QuadrigaCX collapse.

In several tweets, Armstrong expressed an assumption that the exchange had planned no fraud, despite the current turmoil around the $190 mln that it owes customers and has not been paid out yet.

Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

Customers of the no longer operational QuadrigaCX are now having heated battles, using their lawyers in an attempt to recover the funds the exchange owes them.

Why their funds have disappeared is still a big question. The head of the company, Gerald Cotton, passed away at the end of 2018. The CEO was the only person to have access to the laptop which managed the cold wallets. He never mentioned the location of the private keys in the will made two weeks before his death.

Besides, the investigation undertaken by the community found out that allegedly none of those cold wallets actually existed. This also being discussed in court at the moment – the information shared by Quadriga reps does not match the investigation results.

Coinbase looks into the matter too

Armstrong and his team conducted their own research on the subject. As a result, an assumption emerged that several months of Quadriga’s work raised questions about mismanagement.

Head of Coinbase Believes Late CEO of QuadrigaCX Did Not Plan Fraud

Presently, auditor Ernst & Young is in charge of the wallets and accounts of the defunct crypto platform. The other day, QuadrigaCX sent the crypto that was remaining on its wallets to the accounts of the company.

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