#CryptoCorner: #Bitcoin Regains and Holds $7K Support Rallying Over Long Weekend, Deutsche Börse Sets Up Dedicated Distributed Ledger Team, Report Shows #Alibaba Responsible for 10% of Blockchain Patent Applications and Philippines Move Closer to Crypto Exchange Sector Rules
Stocks discussed: (XETRA:DB1.DE) (NYSE: $BABA)
September 4th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App
Point Roberts, WA and Delta, BC - September 4, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.
Listen to today's Crypto Corner Podcast:
#CryptoCorner: #Bitcoin Regains and Holds $7K Support, Deutsche Börse Sets Up Dedicated Distributed Ledger Team, Report Shows #Alibaba Responsible for 10% of #Blockchain Patent Applications and Philippines Move Closer to #Crypto Exchange Sector Rules
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Bitcoin Regains and Holds $7K Support Rallying Over Long Weekend, Deutsche Börse Sets Up Dedicated Distributed Ledger Team, Report Shows Alibaba Responsible for 10% of Blockchain Patent Applications and Philippines Move Closer to Crypto Exchange Sector Rules
Stocks discussed: (XETRA:DB1.DE) (NYSE:BABA)
When we left off on Friday, the total market cap was $225 billion USD and Bitcoin (BTC) was struggling to regain its $7000 USD support level. After an impressive long weekend rally, however, data from CoinMarketCap indicates that the total market cap is about $240 billion USD at press time, with Bitcoin now trading at $7363 USD. This is the highest the flagship crypto has traded for about a month.
German capital market company, Deutsche Börse (XETRA:DB1.DE), has launched a new team dedicated to exploring the application of distributed ledger technology, according to a recent press release. The leader of the 24-person team, Jens Hachmeister, outlined the importance of the venture in adapting to the changing capital landscape:
"From Deutsche Börse's point of view, the DLT/blockchain technology is a key opportunity for the creation of new market structures, adding new products onto our present structures and enhancing our existing offerings," he says. "Of course, the expectations are high and not all of them will be fulfilled - blockchain will not be the answer to all our questions. Yet the digital economy in general is heading for decentralisation. In future, there will be more peer-to-peer governed marketplaces and less intermediaries. In that regard, blockchain has the potential to disrupt the capital markets infrastructure."
Nikkei Asian Review reports that Chinese tech giant Alibaba Group (NYSE:BABA), is responsible for 10 percent of the world's blockchain patent applications. This may seem at odds with the hostility toward cryptocurrencies demonstrated by Beijing, but is indicative of China's initiative to lead in blockchain technology more broadly. The report quotes Taiwan-based Eiger law partner John Eastwood, a specialist on intellectual property and technology:
"Blockchain is a new technological landscape where it could be very profitable for Chinese companies to grab significant territory in their patent claim language. Holding several patents helps to give an aura of legitimacy that helps many companies in the blockchain field to attract investors or acquirers."
The Philippines Securities and Exchange Commission (SEC) said crypto exchanges could operate as trading platforms in the country with proper oversight from regulators, according to a report in the Manila Times yesterday. SEC Commissioner Ephyro Luis Amatong told the press that regulators aimed to release draft rules for the crypto sector by the end of next week. Amatong indicated that Australia and Switzerland's regulation of virtual currency exchanges (VCEs) were being considered as templates for the developing Philippine framework.
Sam Mowers, Investorideas
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Crypto Corner Sponsors:
Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/
GBT is a powerful cryptocurrency centralized / decentralized exchange which will include a broad range of services and benefits from cryptocurrency and blockchain markets development, while avoiding complications and risks arising from crytocurrency ownership, transfer, and exchange.
The powerful GBTDesk aggregator ensuring exchange of cryptocurrencies for fiat currencies under smart contracts without intermediaries is a key element of GBT.
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