We're presenting "the image of the day". Bitnewstoday.com has chosen the most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important stories of this day in the most indicative quotes are below!
1. MYSTERY WHALE (Bloomberg)
$2 Billion Bitcoin Whale That Fueled a Selloff
When Bitcoin plunged as much as 15 percent over two days last week, a theory emerged -- where else? -- on the Internet: a whale was on the move.
Speculation mounted that a major holder of cryptocurrency with an electronic wallet that dated back to 2011 -- long before anyone had heard of HODL -- was moving to sell. His or her wallet had once had as many as 111,114 Bitcoins, which at their peak would have been worth about $2 billion. The rumors began two weeks ago that that whale -- as big holders were known -- was looking to cash out after that year’s plunge in prices.
2. DON’T EXPECT MUCH (Forbes)
Bitcoin Should Trend Higher For The Rest Of The Year, But Don't Expect It To Exceed $8,500
Reports of Goldman delaying plans for its proposed cryptocurrency trading desk are hurting investor sentiments. The news sent Bitcoin prices plummeting – erasing the strong gains the cryptocurrency witnessed over the first few days of the month.
The number of users on the Bitcoin network to continue is to grow steadily over the coming months, which is why we believe the Bitcoin price will jump more than 30% over the next three months to reach $8,500. While this figure pales in comparison to the high it reached last year and is also well below the $10,000-level seen in May.
3. BITCOIN FOR ZIMBABWE (Bitcoin.news)
Faced With Cash And Forex Shortages, Zimbabweans Turn To Bitcoin – Even When It’s Banned
Cryptocurrency may be banned in Zimbabwe, but bitcoin is helping ordinary folk make payments bank-free. It makes for a great fit for more than 10 million Zimbabweans who lack access to basic banking services. And it’s even more beneficial to the banked few, a distrusting lot, keen to protect their savings against bank failure, inflation or even political turmoil.
Right now, Zimbabwe is struggling with a severe cash crisis that has forced people to spend hours queuing for money at banks, and bitcoin is proving a silver bullet. Not only is the benchmark cryptocurrency helping people pay for apartment rentals and rates, but it is also making it easier for Zimbabweans to pay for goods and services that are charged in the US dollar terms.
4. A HELPING HAND (CNBC)
Companies race to solve bitcoin’s security problem despite slumping prices
Start-ups are driving ahead with plans to solve the issue of custody, or having a place to securely store cryptocurrency. For institutional investors that are used to having money safely stored or FDIC insured, where they would put their high-paying clients’ cryptocurrency is said to be the biggest question mark.
"Institutional investors are very interested in finding a solution, but they haven't seen one that they think is perfect for various reasons," said Monica Summerville, the senior analyst at TABB Group specializing in financial technology. "They still self-custody, and manage all their own keys."
5. BLOCKCHAIN GAMING (Venture Beat)
Cocos-BCX raises $40 million to develop blockchain gaming platform
Beijing-based Cocos-BCX has raised $40 million for its blockchain game development platform. The company was founded by the leaders of Cocos2d-x, one of the largest open-source game development platforms that became popular for the creation of mobile games.
The funding comes after the launch of the first Cocos-BCX demo in March 2018, which revealed components for in-game item generation, transfer, and offline storage on an experimental version of Cocos virtual machine and CocosChain. Since unveiling its demo, Cocos-BCX has doubled its team to 40 and opened new offices in Beijing, Seoul, Tokyo, and San Francisco.
6. BLOCKCHAIN HOSPITALITY (Fxstreet)
The benefits of blockchain in the travel and hospitality industry
Over the past decade, the booking and reservations industry for travel and hospitality has migrated online. The Internet has revolutionized the way, in which people travel, with instant price comparison websites, cheap web-based airlines and shared accommodation apps like Airbnb. Blockchain technology is the next logical step in a movement away from the costly, centralized management and into the entirely self-managed, autonomous tourism ecosystem.
The blockchain is entirely decentralized, autonomous, and open-source. The system is supported and controlled by all involved and cannot be manipulated to benefit one party more than another. With the blockchain system, consumers can interact directly with retailers - cutting out the middlemen, saving costs and providing the most efficient, streamlined user experience.
7. RISH FROM THE ASHES (Tech Crunch)
Hacera creates the directory to make blockchain projects more searchable
In the 1990s when the web was young, companies like Yahoo, created directories of web pages to help make them more discoverable. Hacera wants to bring that same idea to the blockchain, and today it has announced the launch of the Hacera Network Registry.
Hacera understands that every cloud vendor wants people using their blockchain service. Yet they also see that to move the technology forward, there need to be some standard ways of conducting business, and they want to provide that layer.
8. TIME FOR THE BETTER (News,Bitcoin)
Former RBI governor stirs up PMO India – time for better banks
Bank frauds in India have opened a can of worms this year, leaving the public questioning concepts such as board, governance, public sector, bankruptcy, and investor transparency with anxiety and anger.
A decentralized fabric of transactions may not be a plug-and-play answer to some of the present woes of the BFSI sector, but it could be a parallel or phased answer perhaps. There is no harm in considering more options, including cryptocurrency-based solutions, to inject some much-needed transparency into the industry.
9. GIRLS ONLY (Irish TImes)
Irish blockchain body for women aims to build awareness of technology
A new Irish blockchain organization for women has been established to build awareness of the much-hyped technology locally. The organization aims to provide a platform to build awareness of the potential for blockchain as a career for women, as well as highlighting educational opportunities, and so on.
Among the founding members of Blockchain Women Ireland are representatives from the Department of Finance, BNY Mellon and the Science Foundation Ireland-funded Adapt research centre for the digital content technology.
10. WALMART TAPS IN (Nasdaq)
Walmart taps blockchain technology for several patents
Walmart has been applying for and winning blockchain technology patents aimed at solving problems ranging from logistics and traceability to trust and transparency to waste reduction. In doing so, the retail giant appears to be seeking a competitive advantage as an early adopter of the blockchain technology for enterprise use cases.
While the majority of retailers around the world are only just beginning to consider how to integrate the blockchain technology into their processes, Walmart is actively exploring the possibilities and launching trials as a part of a multi-pronged strategy for driving supply chain costs down to keep pace with its rival Amazon. In doing so, Walmart is aiding the entire blockchain space, helping to legitimize the technology’s promise and some of its hype.
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