The top news in the last 24 hours are shown below:
LocalBitcoins’ Daily Volume Reaches Highs
LocalBitcoins, a peer-to-peer Bitcoin exchange, hit an all-time volume high this week. The equivalent of 9 million USD was traded for $BTC in Venezuela. This is roughly 156x the traded volume on Venezuela’s largest stock exchange!
JP Morgan Set to Issue its Cryptocurrency
JP Morgan Chase, a former critic of cryptocurrency, notably Bitcoin, and the United States’ largest bank, has created the first cryptocurrency (JPM COIN) by a major U.S. Bank. The ‘JPM coin’ will be usable in the next few months to instantly settle payments between clients. A quote from JP Morgan’s head of blockchain projects goes on to say, “The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions, can use this.”
Korea Exchange Bank Registers 46 Blockchain Banking Patents
Hana Financial Group subsidiary, Korea Exchange Bank (KEB Hana Bank), revealed filing 46 patents concerning the application of blockchain technology for its banking system.
US Debt Exceeds $22 Trillion: Why Bitcoin Matters
For the first time in history, the United States has surpassed $22 Trillion in national debt. That’s Trillion with a capital T. As the national debt climbs sky-high, we are reminded as a world economy just how volatile our fiat currency is. A sad, but the exciting experience is watching the national debt soar in real time. It’s a tremendous view of the United States government’s lack of control. Enter: Bitcoin. With a fixed supply and policy preventing inflation, it is just waiting for all of us to come to our senses and put our money in something more stable.
Nasdaq: Relationship With Brave New Coin For Real-time Bitcoin And Ethereum Price
The global securities marketplace Nasdaq will launch two new indices to track the price of bitcoin and ethereum. A couple of months ago they decided to help the crypto industry to fight fraud and market manipulation. However, they did not stop there. They also invest in blockchain startups and made their most significant investment yet a few weeks ago. They invested $20 million in Symbiont INC. Nasdaq will explore new business opportunities and utilise Symbiont’s enterprise blockchain and smart contract platform.
Ivan on Tech and COO of Microsoft CEE Urge Swedish Minister to Digitize Sweden
The Swedish IT sector is facing a significant future skills labor shortage, as it needs approximately 70,000 additional people until 2022. A group of representatives from the Swedish IT industry has now published a joint opinion piece urging the Swedish government to act. The opinion piece was published on the Swedish tech site Breakit, and aims to ensure that Sweden does not lose its competitive advantage within the IT industry due to a competence deficit. Moreover, the opinion piece is signed by a group of six notable profiles from different facets of the IT sector.
Bitcoin’s Social Contract Must Be Resilient to the Whims of Future Generations
Over the last few years, infighting and different visions have led to significant divides within the Bitcoin community, weakening the network effects no matter which chain you support. With all the arguments about scaling, privacy, consensus changes and the various forks, it is incredible that these public networks are still thriving. Nevertheless, the people who maintain the different software protocols that communicate with Bitcoin and the network’s many participants have lives that are finite — which means we don’t know if future generations will change the social contract Satoshi Nakamoto created years ago.
Stablecoins Dominate Currency Pairings for Leading Crypto Assets
Amidst the ongoing cryptocurrency bear market, stablecoins have continued to gain prominence, with USDT currently comprising the dominant pairing for three of the four largest cryptocurrencies by market cap.
Crypto Exchange Globitex Launches Banking Solution With Instant Transfers
Cryptocurrency exchange Globitex has launched a new service called the Euro Wallet which allows users to make and receive euro payments in their IBAN accounts like any other European bank account. The company claims that this service is a solution to banks closing accounts of crypto businesses.
Nasdaq Stock Exchange to Start Offering BTC and ETH Indices
The Nasdaq stock exchange will start offering real-time information on two new indices tied to the cryptocurrency market – bitcoin core and ethereum. Both indices will be included on the exchange’s existing platform of indexes starting Feb. 25.
Chinese Miners Flock to Sichuan for Cheap Electricity During the Wet Season
Over the last two months, the hashrate between the Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks has increased significantly since hitting a low on December 15, 2018. Numerous reports detail that many Chinese miners who control a large portion of SHA-256 hashrate have been recently setting up shop in Sichuan. During the wet season here, miners can get an astounding 0.08 yuan per kWh or $0.01 per kWh.
Court Rules Brazil’s Bitcoin Max Exchange Can Keep Bank Account
Brazilian cryptocurrency exchange Bitcoin Max has won in court the right to keep its checking account with Banco Santander. According to the presiding judge, the bank has not met its obligation to notify the crypto company of the closure in advance.