Cryptocurrency prices were modestly lower Monday morning after a strong run last week. Negative remarks from the billionaire investor Warren Buffett that buying Bitcoin was not investing, but just a gamble are likely to dampen sentiment over the course of the day.
Here is a wrap of the main news from the cryptocurrency and blockchain space over the past few hours.
Spanish Bank BBVA Issues Blockchain-based Corporate Loans
Spanish bank Banco Bilbao Vizcaya Argentaria SA or BBVA, has probably become the first bank in the world to issue Blockchain technology-based corporate loans. The solution was developed by BBVA in partnership with Spanish tech consultancy firm Indra based on distributed ledger technology or DLT.
Binance CEO Zhao Denies Sequoia’s Allegation In Present Dispute
Binance, the world’s largest cryptocurrency exchange by 24-hour trading volume, said Thursday that the allegations raised by Venture capital Firm Sequoia has been denied by its Founder and Chief Executive Officer Zhao Changpeng. The exchange provided an update on the Hong Kong High Court’s legal proceedings between Zhao and a subsidiary of Sequoia Capital China (SCC).
IBM, Jewellery Consortium’s TrustChain To Use Blockchain In Jewelry Supply Chain
International Business Machines Corp. or IBM has joined with a consortium of gold and diamond companies and a laboratory to launch the TrustChain Initiative, a blockchain network aimed for increased transparency in the jewelry industry. In a statement, the company said the first cross-industry initiative would use Blockchain to track and authenticate diamonds, precious metals and jewelry at all stages of the global supply chain, from the mine to the retailer.
Request Network Teams Up With Wikimedia France For Cryptocurrency Donations
Request Network, which describes itself as an Ethereum-based decentralized network that allows anyone, anywhere to request a payment, entered a partnership with Wikimedia France to help the latter integrate Blockchain technology into its platform. The first concrete application of this partnership will be the integration of cryptocurrency donations, Request Network said.
World Satoshi Summit Cancelled
The World Satoshi Summit planned to be held in India’s capital New Delhi next month has been canceled due to regulatory issues. “Due to certain regulatory issues in India, World Satoshi Summit currently stands canceled,” the organizers said in a message posted on the event’s website. All refunds will be processed over the next few weeks, says the statement, which denies further access to the site.
Tutorial: Crypto Lexicon – BAGHOLDER
In the crypto world, a BAGHOLDER is someone who bought a crypto currency at a high price, but failed to sell the coin before it tanked. So the person is left with a bag full of worthless coins.
As of 10.23 am ET on Monday, Bitcoin was down 0.43 percent at $9,270 and Ethereum was lower by 0.44 percent at $678.98 on Coinbase.
by Jyotsna V