[Daily Discussion] Thursday, June 04, 2020 Bitcoin Markets |
- [Daily Discussion] Thursday, June 04, 2020
- [Altcoin Discussion] Thursday, June 04, 2020
- Alibaba to Bring Blockchain Technology to Chinese Shipping Ports
- 2020 is the year of "Miner adjustment"
- New Status of Cryptocurrency Companies in Canada
| [Daily Discussion] Thursday, June 04, 2020 Posted: 03 Jun 2020 09:05 PM PDT Thread topics include, but are not limited to:
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| [Altcoin Discussion] Thursday, June 04, 2020 Posted: 03 Jun 2020 09:05 PM PDT Thread topics include, but are not limited to:
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| Alibaba to Bring Blockchain Technology to Chinese Shipping Ports Posted: 04 Jun 2020 07:03 AM PDT China is tapping into the potential of blockchain technology like none other; the country's entrepreneurs and local governments alike have already started implementing blockchain-based projects while most of the globe grapples with legality issues. China looks to blockchain In the latest push, the China Merchants Port announced last week its implementation of blockchain technology in upcoming projects. Partners include Alibaba, one of the largest and most prominent companies in China. The "Ant" blockchain, owned by Ant Financial, will bring smart contract-based frameworks to ports in Hong Kong, Beijing, Shenzhen, and Hangzhou, ensuring a "contactless" process to prevent no contracts or shipping date can be tampered with. As per a local report, the three firms look to transform China Merchants Port into the world's largest blockchain-based "digital port," one that allows open collaboration between participants and promotes verifiability in an industry notorious for large amounts of paperwork and delays. A new logistics and finance division will be set up jointly by the three firms, mainly to address the legal, financial, and supply chain aspects of the upcoming project. The trio will reconstruct the payment methods for industry participants and customers as well, using Ant's blockchain to do so. Jing Xiandong, chairman of Ant Group, stated the project is "a milestone" in the eventual "digital upgrade" of Chinese ports. He added: "Blockchain will be the key infrastructure to reshape international trade and logistics. International trade involves many collaborators such as buyers, sellers, logistics, customs, taxation, bank insurance, etc." Here's what it means for China The development comes at a crucial time for China's shipping industry; one ravaged by the ongoing coronavirus pandemic and battling anti-trust sentiments from global leaders. Using a blockchain system, the country's ports make data verifiable and available to all participants around the world, increasing trust and introducing collaboration between parties. The global logistics industry is infamous for being a tough sector to operate in. However, with a blockchain-based system, collaborators like buyers, sellers, customs officials, and taxation regulators promote multi-party collaboration on a singular platform. Meanwhile, other countries are also looking to integrate blockchain technology in the shipping industry. Last week, as Blockchain.News reported, India's largest port operation partnered with the country's Adani group. The move sought similar results like China's, hoping to improve verifiability and tracking capabilities, building a public blockchain for all participants, and penalizing "bad actors" operating in the market [link] [comments]  |
| 2020 is the year of "Miner adjustment" Posted: 04 Jun 2020 07:45 AM PDT The halving was kind of a dumb hype and got everyone rallied up. The hype certainly helped a certain group: the miners. Because after the halving their investment (electrical bills) kept the same, but their return got halved. We didnt really see this in the price and my suspicion is that miners do not offload their inventory aggressively at the moment, because its in their interest to keep the price as high as possible, because they got less coins to sell but still the same upkeep. So watch out where all the FOMO originates. I suspect that there will be an "adjustment" in the ecosystem. Operators have to try to break even somehow and its not really a thing that works over the weekend to adjust a complete infrastructure. By looking at the current long term triangle i assume it will take until the end of 2020 until everything is settled for the next bull cycle. Also, it would be "kind of" organic to break out of this symmetrical triangle on the upper side, because everyone is in for the next ATH. I attached an amateurish graph with some totally made up lines here for your sole entertainment. Discuss, Love & Hodl EDIT: words (not native english speaker) [link] [comments]  |
| New Status of Cryptocurrency Companies in Canada Posted: 04 Jun 2020 08:07 AM PDT In different countries, cryptocurrency and cryptocurrency companies have different statuses. Now Canada had joined the list of countries that are ready to welcome cryptocurrency. Since 1 June 2020 exchange services and payment processes are legal there. Now, this type of companies have a Money Service Businesses status. Now their activity has a number of restrictions. For example, the registration with the Financial Transactions and Reports Analysis Centre of Canada is required. Transactions that exceed 10,000 Canadian dollars must be reported. [link] [comments]  |
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