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CryptoCorner: Bitcoin Flirts with $6000, Wipro (NYSE: WIT) and R3 Developing Interbank Settlements with CBDC in Thailand, Microsoft (NASDAQ: MSFT) Azure Releases Ethereum Development Kit

 

Point Roberts, WA and Delta, BC - May 7, 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: #Bitcoin Flirts with $6000, Wipro (NYSE: $WIT) and R3 Developing Interbank Settlements with CBDC in Thailand, Microsoft ( $MSFT) Azure Releases Ethereum Development Kit

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Crypto Corner

Stocks discussed: (NYSE:WIT) (Nasdaq:MSFT)

Bitcoin (BTC) has reached a new high for 2019 with a trading price of $5977 at press time, according to data from CoinMarketCap. The flagship cryptocurrency saw an initial rally starting last Thursday at around $5400 and going into the weekend to reach over $5800. Bitcoin has a 56 percent market dominance with a $105 billion market cap. The majority of altcoins listed by market cap are in the green today as well, pushing total market capitalization to $189 billion at press time. Ether (ETH) is about seven percent in the green with a trading price of $176. This growth could be a response to the news reported on yesterday's Crypto Corner, that the CFTC might be open to approving an Ether futures contract.

Global information technology, consulting and business process services company Wipro Limited (NYSE:WIT) and enterprise blockchain software firm R3 have partnered to enable interbank settlements with digital currency in Thailand, according to a press release today. The blockchain solution is the first phase of Project Inthanon, an initiative led by the Bank of Thailand, and which will apply de-centralized interbank real-time gross settlement (RTGS) using Central Bank Digital Currency (CBDC) to the central bank and eight commercial banks in the country. Krishnakumar N Menon, Vice President and Blockchain Theme Leader, Wipro Limited said:

"We are delighted to have worked on Project Inthanon with R3 and be a part of a national-level fintech initiative. The DLT-powered solution prototype has demonstrated the merits of blockchain technology adoption for making interbank payments more efficient. Building a blockchain prototype for issuing digital currency aligns with our vision of driving industry transformation through real-world applications of blockchain."

Microsoft (NasdaqGS:MSFT) yesterday released an Ethereum app development kit as part of their Azure Blockchain platform. The kit gives developers the option to build using the Azure Blockchain Service, the public Ethereum network and open source blockchain tools like Solidity and Truffle. Chris Pietschmann, Microsoft MVP (most valuable professional) and founder of BuildAzure.com, said:

Sure, there have been Solidity and other Blockchain technology extensions for Visual Studio Code published by others in the community, however now there is also an official set of tools published by Microsoft. This proves even further the investment and dedication that Microsoft is putting forth towards the use of Blockchain ledger technologies in the Enterprise, or even on the public blockchain networks.

Chinese social media and payments service provider WeChat has banned cryptocurrency transactions, according to a tweet from Dovey Wan, founding partner of cryptoasset investment firm Primitive Ventures. The tweet indicated that users will have their account terminated for partaking in crypto transactions. Dovey Wan added:

"Given most OTC transactions are happening in wechat, this may impact local liquidity to quite some extent"

Sam Mowers, Investorideas

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