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CHINA CREDIT: Cryptocurrency investment firms and funds in China have turned to lending as a more steady revenue stream to get through the bear market slump. Such new crypto lenders include notable names such as Bixin Capital, FBG Capital and DGroup. Along with a startup called Babelbank, these investors have originated a combined $60 million-worth of loans in the last five months, most denominated in cryptocurrencies. "The demand for personal crypto loans doesn't fluctuate that much regardless of market conditions," said Bixin's Xi Wang. "So, in a bearish market, making profits from lending assets is relatively a much [more] stable bet." Full Story
CODE BOOST: Enterprise blockchain company Digital Asset is working with the International Swaps and Derivatives Association (ISDA) to develop software meant to ease adoption of the trade group’s potentially cost-slashing data standards. To that end, the firm is writing a reference code library intended to help developers implement the ISDA’s Common Domain Model (CDM) in solutions for trading and managing derivatives. “We are very excited to now make this reference implementation available to users … enabling financial institutions to be in control of their own data,” said Kelly Mathieson, head of enterprise solutions at Digital Asset. Full Story
BYE-BYE YOUTUBE? PewDiePie, the world’s most popular YouTuber by subscriber numbers, has joined a blockchain-based live streaming platform. The 29-year-old Swedish content creator, real name Felix Kjellberg, has signed an “exclusive” deal to live stream weekly on the DLive platform – built on the lino blockchain – from April 14, the firm said. On his official DLive channel, PewDiePie also announced that he will support content creators on the platform by donating up to $50,000 to a maximum of 100 creators. Full Story
SECOND LIFE: U.S. lawmakers are making a fresh attempt to give cryptocurrencies a clearer legal standing. U.S. Representative Warren Davidson reintroduced the Token Taxonomy Act on Tuesday, saying that the bill, if approved by Congress and signed into law, would "send a powerful message" to innovators that "the U.S. is the best destination for blockchain technology." The bill, first introduced last year by Reps. Davidson and Darren Soto, seeks to exempt certain cryptocurrencies and other digital assets from federal securities laws, allowing individuals to more easily trade or transact with select coins. Full Story |
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| TRIANGLE TARGET: Bitcoin has cemented a higher low and retained its bullish market structure on the daily chart after a hotly contested close yesterday. The hourly chart shows bitcoin is trending inside an ascending triangle (typically bullish by nature) with a potential measured move to $5,885 ahead. An exaggerated bullish divergence has formed on the hourly chart, too, in a further sign of an imminent bullish breakout. Full Story |
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BEST OF THE BEST
FIREFOX BLOCKS: Open-source browser maker Mozilla is planning to help protect web users from the scourge of illicit crypto miners . As reported by CNET, two test versions of Firefox – called Nightly and Beta – have an optional feature that blocks crypto mining code hidden in websites. Currently, the blocker must be switched on to activate the cryptojacking protection, but Mozilla plans for the default state to be on. The test browsers will also block so called “fingerprinting” tech that tracks browsers’ web activity, the piece adds.
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DILUTING POWER: A Chinese government agency recently proposed that bitcoin mining should be considered an "undesirable" industry. But any mining restrictions that result would ultimately be good for bitcoin, writes Barrons. With many mining machines made in China, as well as its low power costs, the country currently has a disproportionate control of the mining industry. Forcing mining centers to other nations could bring about a loss of hashing power if it happened abruptly, but would make it more resistant to 51 percent attacks by increasing decentralization, the piece says.
HYPE OVER? At least half of all firms could be using blockchain tech in the near future, according to Forbes. At an event on Monday, Frank Xiong, Oracle group VP of blockchain product development, said: “My projection is that between 50 percent and 60 percent of companies will use blockchain in the next few years.” However, he added that blockchain isn’t a cure-all and that firms are now “more realistic” about whether the tech is appropriate for their business model.
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