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...

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...

5,270 Bitcoin Merchants, 8900% Monthly Volume Spike; The Reason behind Japan’s Bitcoin Binge

A major factor that has pushed the trading volume of Bitcoin in Japan is the new virtual currency law which will be enforced by this spring, says the Business Development Lead of CoinCheck, the country’s top exchange.   According to Kagayaki (Kaga) Kawabata, the introduction of the proposed law made Bitcoin a darling of top media organisations in the country. He explains: “After this announcement, various large media that once negated Bitcoin started to feature Bitcoin again this time as an innovative technology (After the Mt. Gox incident, the media broadcasted Bitcoin as a tool for money laundering). Japanese national TV shows and newspapers such as NHK and NIKKEI featured about cryptocurrency expanding awareness of the general public and bringing in...

EU Imposes Banking Rules on Cryptocurrencies Without Granting Banking Rights: Expert

The Bitcoin community has reacted to the European Union's announcement that digital currency control will be on its list of priorities in 2017. Matthias Klees, a founding member of LocalCrypto and the CEO of EuropeCoin, has called on the cryptocurrency community not to contribute to confusion caused by incorrect wording. Impossible to regulate Klees states: "The barrier to understanding cryptocurrency, for an average person, is high enough. Wrong wordings are preventing the public from understanding what is going on. The European Union is trying to regulate cryptocurrency businesses, not the currencies. We should not contribute to this kind of confusion because by doing so, we are starting to play their game of misinformation." In a chat with the...