Commodities Trading Giant to Test Blockchain Tech with Crude Oil Cargo

Commodities Trading Giant to Test Blockchain Tech with Crude Oil Cargo

Swiss firm Mercuria, one of the largest commodities traders in the world, will put to test the first large oil trade transaction powered by blockchain technology. The trade transaction will see an oil cargo shipment containing African crude sold to ChemChina, a Chinese petrochemical giant and shareholder in Mercuria. ING and Societe Generale, a Dutch and French bank respectively will aid in the execution of the deal, a Reuters report has confirmed. The deal was announced by Mercuria co-founder and chief executive Marco Dunand during the recently concluded World Economic Forum in Davos, Switzerland. Dunand has previously stated that blockchain technology was going to usher in “a digital transformation of the oil and gas industry.” Speaking at an October 2016...

Op Ed: Bitcoin Price Rises as US President Trump Promises Power to the People

Op Ed: Bitcoin Price Rises as US President Trump Promises Power to the People

It is rare that the London sky shines so bright you can’t find one cloud, but that was the weather yesterday in the capital that once used to run an empire where the sun never sets. In Washington DC, which has in many ways taken on that banner, the weather was more somber, just slightly less rainy than during the vote for Brexit, reflecting in both cases the seriousness of a monumental task that now faces the world and the country. “We assembled here today are issuing a new decree to be heard in every city, in every foreign capital and in every hall of power. From this day forward, a new vision will govern our land.” So thundered the newly elected president, putting to rest any speculation that he might soften his tone. Instead, both implicitly and...

Thriving US Cannabis Industry Faces Bitcoin Ban

Thriving US Cannabis Industry Faces Bitcoin Ban

Marijuana, the wonder plant as some call it is going through a liberation phase in the United States. In 37 out of 50 states have relaxed the laws regarding the sale and use of marijuana and its derivatives in the past few years. Most of these states approve of the medical use of marijuana while a handful also makes an exception for recreational use. But these relaxations come with riders to make it difficult for businesses dealing with cannabis. According to reports, Senators Steve Conway and Ann Rivers have filed a new bill in the Washington State Senate to prevent local cannabis businesses from using Bitcoin as a mode of payment. An excerpt from the bill was quoted on one of the online publication saying, “A marijuana producer, marijuana processor, or retail...

Fred Ehrsam, Cofounder of Coinbase Plans to Step Down

Fred Ehrsam, Cofounder of Coinbase Plans to Step Down

Fred Ehrsam, one of the founders of Coinbase, the leading Bitcoin company has decided to move on to brighter pastures. The cryptocurrency entrepreneur mentioned his intentions in a blog post three days ago. According to Fred, he will be stepping down from the current position in Coinbase by the end of January 2017. He has started the exit process by gradually shedding his responsibilities over time. After seven long years, he seems to be taking a well-deserved break. Fred Ehrsam’s blog post also serves as a “thank you” note to fellow co-founder Brian Armstrong and rest of the company’s employees. “I’m thankful for all of the faith everyone around the company has put in me and the experiences we’ve had together. To Brian: I cherish the lifelong friendship...

Bitcoin Traders Adopt 'Wait and See' Stance As China Impact Fades

Bitcoin Traders Adopt 'Wait and See' Stance As China Impact Fades

Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 14th through 20th January. After a wild start to 2017, bitcoin took it slow this week. This relative calm was punctuated by a handful of sharp fluctuations, which saw the digital currency’s price fall to as little as $810 on 15th January and rise to as much as $914 on 18th January, data reveals. But, despite the calm, there was uncertainty under the surface. According to analysts, the market is still reluctant to make big moves in the wake of continued news from China that has found its central bank more actively engaging with local exchanges. Trader reluctance For now, this is keeping traders on the sidelines. Ryan Rabaglia,...

ICOs Are the Future Of Funding Says Co-Founder of Platform That Just Raised €2 Mln

ICOs Are the Future Of Funding Says Co-Founder of Platform That Just Raised €2 Mln

Blockchain equity ‘bridging’ platform Neufund has announced it has raised €2 mln for its new startup funding tool. Neufund, which formed in Berlin in September 2016, is seeking to create a one-of-a-kind arena for securing investments for startups via tokens which are both tradable as currency and represent off-chain equity. Neufund’s co-founder Zoe Adamovicz said in a press release issued Wednesday: “This is completely new because it allows tokens to not only represent ownership in a Blockchain network but also equity in off-chain companies.” Sifting through the hype The flood of crypto-based funding platforms to hit the market over the last year has led to numerous initial coin offerings hereinafter ICOs for investors. The...