The rise of the digital currency

Automotive market innovators The Auto Block will aim to revolutionise the car sales process with the creation of the sector’s first ever cryptocurrency. Creation of Auto Coin means that investors who hold the online currency but have so far struggled to spend their digital assets will be able to convert their cash into cars for the first time. Now UK car dealers are being encouraged to embrace the new technology, with The Auto Block claiming that the sterling-free transactions will deliver easy, secure, immediate sales carrying less risk than either bank transfers or debit card payments as well as minimising these transactional costs.  Mohamed Ezeldin, director at The Auto Coin, said: “The Auto Coin will offer car dealers a competitive advantage in a heavily saturated market and begin to open up entirely new revenue streams, just as the internet did some 20 years ago.” The Auto Block said that there were currently thousands of cryptocurrencies in circulation with millions ...

With the  markets  still suffering in the wake of the United States Securities and Exchange Commission (SEC) decision to delay their Bitcoin ETF announcement, we want to turn to the current standings to assess what could happen over the next few weeks. We must bear in mind that during September, a number of ETF announcements are due to be made, meaning that what we have seen this week could be amplified on a massive scale through September, or, September could well see the start of a number of bull runs, encouraged by a positive ETF announcement, or nine. Please note that this is not investment advice,  cryptocurrency  investment is risky business and nobody can ever predict how the markets will perform. As values can fly, they can crash too so don’t base your investment decisions on this article. Yes, use it to enhance your research, but decisions should be made on your own terms. Success can only be found in trading safe. So, at the time of writing,  Bitc...

The chief information officer of Bank of China announced plans to increase spending for technological research with blockchain as one of the key points. Bank of China, one of the four largest banks in the country, will increase its research and development budget for fintech projects, including blockchain. The bank told a press conference,  covered  by local media agency The Paper. Chief information officer Liu Qiuwan announced total spending will exceed 1% of the bank’s annual operating income. Bank of China highlighted the development of three key platforms in 2018 - cloud computing, big data and artificial intelligence. The bank wants to advance its real-time monitoring capabilities, which are currently used to manage risk. The Paper also notes, there are reports of a separate technology company being created, in order to meet the demand for innovation. Regarding distributed ledger technology Liu Qiuwan said: “Currently, Bank of China has been applying technology...

Bitcoin in the $6300 range and falling. This week’s decision by the United States Securities & Exchange Commission (SEC) to delay the decision on the pending SolidX-VanEck Bitcoin ETF application had caused a storm in the markets, according to CryptoDaily. An ETF is a financial product that tracks the price of an asset and is listed on an exchange. It means that investors don’t actually have to buy the underlying asset. This is VanEck’s third attempt to push a bitcoin ETF through, having been rejected by the SEC twice previously. On this occasion, the SEC said that it is pushing out its decision until September 30 The same price drop phenomenon happened a few weeks earlier when the SEC also rejected a Bitcoin ETF application made by the Winklevoss twins and Gemini. That’s why it is expected that over the next two months, it is estimated that there’s a total of nine current ETF applications that are due for a decision. “This means ...