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#CryptoCorner: BTC Loses 11% in Sunday Sell Off, Accenture ( $ACN) Teams with Mastercard, AWS and Others with Launch of Blockchain-Based Circular Supply Chain

February 25th #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and Genesis Exchange and Wallet App @GenesisBlockch

 

Point Roberts, WA and Delta, BC - February 25, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.'s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today's edition of the Crypto Corner podcast and commentary on what's driving the cryptocurrency market.

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#CryptoCorner: BTC Loses 11% in Sunday Sell Off, Accenture ( $ACN) Teams with Mastercard, AWS and Others with Launch of Blockchain-Based Circular Supply Chain

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Crypto Corner

BTC Loses 11% in Sunday Sell Off, Accenture Teams with Mastercard, AWS and Others with Launch of Blockchain-Based Circular Supply Chain, Russia to See Crypto Regulation in March and Plans Oil-Based Crypto and Indian Supreme Court Gives 4 Week Deadline for Regulation

Stocks discussed: (NYSE:ACN) (NYSE:MA)

Over the weekend the crypto market saw a brief surge on Saturday, followed by a sudden, and even bigger drop on Sunday. According to data from CoinMarketCap, the market cap reached as high as $144 billion at its peak on Saturday, but then plummeted $16 billion down to $127 billion. The effect on individual coins was no less dramatic, with Bitcoin (BTC) reaching as high as $4200, only to drop 11 percent down to around $3800. It is believed that a high volume of future contracts could have resulted in the high sell pressure seen on Sunday.

Professional services firm Accenture (NYSE:ACN) issued a press release today detailing their launch of a blockchain-based circular supply chain in collaboration with Mastercard (NYSE:MA), Amazon Web Services and others. David Treat, a managing director and global blockchain lead at Accenture, explained:

"Our identity capabilities are already empowering millions of users around the globe to access essential services like healthcare, banking and travel. Our circular supply chain capability combines these components with blockchain and expands its application to places and things, which is allowing us to rethink global supply chains. Through effective public and private partnerships, we can place sustainability and customer empowerment at the heart of global business models and we invite more partners to join us."

Russia will see new crypto regulation in March, according to a recent report from local outlet Rambler. The report goes on to illustrate the possibility of an oil-backed cryptocurrency. Former Energy Minister Igor Yusufov explains the potential advantages of such a crypto, in a loose translation:

"In the current situation of the oil market and the instability of payments in dollars - the logic of the development of the digital economy on a global scale suggests exactly this path of development. After the launch of the cryptocurrency platform, oil-producing countries will be able to maneuver with respect to financial and trade restrictions, which have become too many in recent years. Based on this, the project will bring the greatest benefit to OPEC + countries, including Russia, which will be able to increase oil and gas exports."

Inc42 reports that the Supreme Court of India has ordered the Union of India to produce a regulatory policy for cryptocurrency within the next four weeks. According to the article, if authorities fail to create the regulatory policy within the timeframe, the Court will move forward with their judgment.

Sam Mowers, Investorideas

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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/

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