Cryptocurrency News Cast 📮 26-08-2020
Welcome to The Cryptocurrency News Cast: A Complete Cryptocurrency News letter For Today
24hours Cryptocurrency Market Cap:
📈MarketCap: $358 B
📊24h Mcap %: 0.28%
⚠️Bitcoin Dom: 59.10%
📌Active Coins: 3,828
📍24h Vol %: 8.90%
💲24h Vol: $108 B
Cryptocurrency News Updates :
- Starbucks Brings Coffee To The Blockchain
- China’s Communist Party Will Decentralize Social Services Using Blockchain
- BitGo Will Build A Sidechain For WBTC As Ethereum Fees Rises
- JPMorgan’s Blockchain Platform Quorum Acquired By ConsenSys
- First Time DeFi Total Value Locked Exceed More Than $7 Billion
- Software Firm Snappa Turns 40% Cash Reserve Into Bitcoin
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Starbucks Brings Coffee To The Blockchain
Starbucks, the biggest coffee shop chain in the world, now allows its customers to trace the origins of its coffee using Microsoft's blockchain solution. Customers will be able to scan codes on the bags of coffee they purchase to discover their origins. Little information has been provided concerning the traceability solution other than the fact that it employs blockchain. As consumers become more concerned about the ethical sourcing of the products they purchase, the blockchain-tracing trend could rapidly begin to take hold. Read Full on cointelegraph.
China’s Communist Party Will Decentralize Social Services Using Blockchain
Chinese Communist Party has identified blockchain as a key tool for its innovation of nationwide social services. The General Office of the Central Committee of the Communist Party of China issued a lengthy policy paper that provides regional departments with guidance on reforming and improving China’s social assistance system. The Party notes it is gradually working towards establishing nationwide connectivity and digitizing social security systems. Its strategic vision is to use blockchain technology in social assistance provisions. Read Full on cointelegraph.
BitGo Will Build A Sidechain For WBTC As Ethereum Fees Rises
Historic fee pressure plaguing the Ethereum blockchain is forcing one of decentralized finance’s (DeFi) hottest projects to consider swapping tires while driving. Digital asset trust company BitGo is in the process of “reaching out” to community partners to build an Ethereum sidechain due to heightened fees, according to CTO Ben Chan. BitGo’s premiere product wrapped bitcoin (WBTC) is an ERC-20 token with a 1-1 peg to bitcoin. It currently secures some 46,000 BTC worth just north of $500 million through a custodial patchwork. Read Full on CoinDesk.
JPMorgan’s Blockchain Platform Quorum Acquired By ConsenSys
American multinational giant bank JPMorgan Chase & Co has entered into a strategic partnership with the blockchain-based company ConsenSys. As part of the deal, ConsenSys will acquire the bank’s enterprise blockchain platform – Quorum. The acquisition is a major step in the acceleration of enterprise adoption of blockchain technology and Ethereum-based solutions. By using Quorum with ConsenSys’ other enterprise product offerings, businesses can build highly customizable, secure, and performant solutions. Read Full on consensys.net.
First Time DeFi Total Value Locked Exceed More Than $7 Billion
According to DeFi Pulse, the total value of capital locked in decentralized finance (DeFi) protocols has surged by 271% in less than two months to surpass $7 billion for the first time. Despite DeFi’s meteoric growth, only just 6 projects signify more than 90% of the capital locked in the sector. Aave currently comprises the largest DeFi project with $1.51 bln locked, followed by MakerDAO with $1.42 bln, Curve Finance with $1.15 bln, Yearn.finance with $845 mln, Synthetic with $801 mln, and Compound representing $797 mln. Read Full on cointelegraph.
Software Firm Snappa Turns 40% Cash Reserve Into Bitcoin
Ottawa-based design software company Snappa, announced Monday, August 24, its decision to move a significant amount of its cash reserves into bitcoin, citing concerns of inflation and global economic uncertainty. Company’s cofounder, Christopher Gimmer detailed that Snappa allocated “40% of our cash reserves” into bitcoin. He further stated that traditional savings accounts are now inferior and fortunately, we now have a far superior savings technology Bitcoin available to us. Read Full on twitter.