Wednesday, September 19, 2018

PNC splash

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September 19, 2018

PNC + RIPPLE: PNC, the Pittsburgh-based banking giant, has linked up with Ripple to use its technology for cross-border transacting.

The bank aims to facilitate easier payments using xCurrent, the technology product developed by Ripple. PNC had prevously completed pilot initiatives with Ripple, and today's announcement marks the next step in that partnership.

"Providing instant payments instead of waiting two to three days, that sounds like a short time, [but] that's two to three days without access to capital. Having that is a real game-changer," Asheesh Birla, Ripple's senior vice president, told CoinDesk. 

Initially, PNC will allow only incoming transactions, but the bank plans to eventually transition to full use of xCurrent for cross-border payments. Full Story

ENTERPRISE SHAKE-UP?: Has the consoldation of the enterprise blockchain space begun?

Speaking with CoinDesk during CordaCon last week, R3 chief technology officer Richard Gendal Brown said he believes such a shift is taking shape today.

He argued that there are only three contenders in this still-nascent ecosystem: his company's own Corda, Hyperledger and an offshoot of the ethereum network. 

But Brown had harsh words for the latter, telling CoinDesk: "I don't think ethereum is going to go anywhere, to be frank. They have announced they are going to rewrite everything from scratch; that's why I say that." Full Story

POT OF CRYPTO-GOLD: Another cryptocurrency startup is seeking to bridge the worlds of blockchain and precious metals. 

The Switzerland-based company Eidoo has announced the launch of the ekon, a gold-pegged stablecoin. This ERC-20 compatible token, Eidoo claims, will be exchangeable for one gram of 99.9 percent fine gold.

The company says that the stablecoin is compliant with KYC and Swiss regulations, and that it will let buyers keep their own eye on the goal via a live video stream. Full Story



Twenty -- that's the estimated number of unofficial crypto exchanges operating in the occupied Palestinian territories.

Palestinians utilize crypto to invest, purchase goods, and send money abroad because payment processors and traditional banks sometimes prohibit their access to those types of financial activities.
 
For more research insights check out the CoinDesk Research section here.
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REVERSAL OF FORTUNE: Bticoin has resisted the bearish pull by maintaining a price between $6,200 and $6,300. Yet the charts suggest that if bitcoin is able to break through the $6,600 level, a bull market may be in the cards. Full Story
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NEW YORK TIMES: small crypto mining firm operating in Massena, NY has earned the ire of local residents after eating up quite a bit of energy last winter. 

Coinmint, according to the New York Times, consumed enough electricity to power 10,000 homes. The town then had to buy more power to sustain themselves through the rough winter. As a result, the local government ultimately put a moratorium on mining operations. 

The residents of Massena have mixed feelings on the energy intensive operation -- some are hopeful for the jobs that the operations could bring, while others are weary of the significant power use. 

THE REST

TNOOZ: 
Air France-KLM is getting into the blockchain craze, according to a company official who is spearheading the airline's efforts around the tech. 

The airline giant is said to have authorized a ‘blockchain strategy programme’ this past May. This decision came from the persistent efforts of Iris Taguet, the head of the blockchain program, who has been advocating for the multiple use cases of blockchain in the airline ecosystem.

Outlined by the company, use cases range from passenger identity to cargo management.

THE NEXT WEB: Yiliang “Doublelift” Peng, a popular player of the online game League of Legends, has been robbed of $200,000 in cryptocurrency.

The gaming superstar reportedly woke up to messages from his bank telling him he was overdrawn. Though there have been no official confirmations on the exact details, Peng believes this to be the work of SIM card swappers.
 
We've launched our first-ever podcast, "Late Confirmation," a digest of top stories in the blockchain world, delivered daily from the team at CoinDesk and sponsored by the Oxford Blockchain Programme.

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