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Crypto Daily Roundup - Feb 16


Even as many eminent personalities call Bitcoin a bubble to burst, the digital currency, after falling to $6000 last week, regained its lost strength. Thursday, it had soared over $10,000 mark. Though the price edged down to $9750 early today, as of this writing, it has crossed $10,000 again.

Here are some of the major news from the cryptocurrency market over the last 24 hours.

Philippines Rural Banks To Explore Blockchain Technology

Four rural banks in the Philippines partnered with the country's UnionBank for blockchain technology, with a view to improving their payment process efficiency, the Philippine News Agency reported.
UnionBank will assist rural banks to co-create a blockchain platform. The platform will help rural banks to make cross-border payments in real time and at a cheaper cost. Aboitiz-led UnionBank last month had tested Visa's cross-border B2B payments using blockchain technology.

Bitcoin passes $10,000 Mark Again

While Bitcoin is still far below its record high in 2017, the virtual currency managed to cross the $10,000 benchmark on Thursday and briefly at the start of Friday. South Korea is considering an exchange approval system, similar to that of the State of New York, that gives selective permission. The European Central Bank's (ECB) pronouncement that regulating cryptocurrencies is not high on its to-do list, helped the currency from falling further.

Japan's 2 cryptocurrency groups to Merge to form self-regulating body

Two of Japan's leading cryptocurrency groups, the Japan Blockchain Association and the Japan Cryptocurrency Business Association or JCBA, are set to merge as early as April 2018, reports said. The two groups are said to be merging in order to form a self-regulatory body for the Japanese cryptocurrency industry. The effort is to build an efficient and structured framework that will be self-regulatory to provide improved safeguards for investors and traders. This move comes after the market hack in late January that saw a loss of $530 million from Japanese cryptocurrency exchange Coincheck, one of the biggest-ever cryptocurrency thefts.

Berlin To Host BlockShow Europe 2018 in May

One of the biggest international conferences of blockchain technology, it will discuss Governmental Initiatives, insights from Central Banks, latest updates on worldwide Blockchain regulations and innovations in both European and Global Blockchain scenes. Described as "Window to the Global Blockchain World," the conference will address the most pressing questions of the Blockchain community. More than 3,000 delegates will attend BlockShow Europe 2018 and over 150 companies will exhibit their projects.

Bank of America tops list of Cryptocurrency patents

The second-largest bank in the U.S. has so far applied for or received 45 patents for blockchain, the ledger technology used for verifying and recording virtual currency transactions, according to Bitcoin Patent Report. The Bank filed 23 new patent applications with the U.S. Patent and Trademark Office in 2016 alone. Bank of America owns 27 patents containing the word "blockchain," 36 that include "bitcoin" and 39 that include "cryptocurrency." Despite being the top crypto patent holder, the bank has made it clear that it is "all for" blockchain, but "not going to participate" in bitcoin.

Coinbase launches PayPal-like crypto payment platform

The U.S.-based cryptocurrency exchange Coinbase announced Friday the launch of its own PayPal-like payment service platform for Cryptocurrencies, called Coinbase Commerce, to be available for merchants around the world starting today. The company said this platform will make it easy for merchants to accept payments in digital currencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin directly into a user-controlled wallet. Coinbase said it has already integrated the platform with multi-channel commerce platform Shopify, and is in the process integrating more of them.

Current Prices

Bitcoin is now trading at $10,067 and Ethereum at $930 on Coinbase.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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