XLM/USD, ADA/USD Gains Setting Pace for Inevitable Altcoin Price Recovery

Even with ball park +75 percent losses from 2017 highs, the altcoin market is ripe for a reversal as XLM/USD and ADA/USD reject lower lows. Meanwhile, EOS/USD and LTC/USD are near important support levels and today could determine short term price trajectory.

Let’s have a look at these charts:

EOS/USD Price Analysis

EOS/USD Price Analysis

Back to back losses mean none of our trade conditions are live. However, a glance at the chart indicate that sellers are in charge and could drive prices below $5 triggering aggressive sellers into action aiming at $4. Anyhow, from previous EOS/USD trade plans we shall maintain a neutral stand until prices either surge above $7 or below $5 or $4—for conservative traders.

Related: EOS Centralization Reportedly in Action: Arbitrators Able to Reverse Transactions

In any case first targets would be $9 should prices rally or $1.5 if prices drop below our main support line. But in the meantime, we suggest taking a wait-and-see approach as prices accumulate within a $3 range after dropping +80 percent from 2017 highs, many are rooting for bulls although a contrarian move could wipe out gains as EOS/USD meltdown continue.

LTC/USD Price Analysis

LTC/USD Price Analysis

Even with stellar fundamentals and fitting candlestick formation that points to sparkling LTC/USD stars, bulls are struggling against relentless sellers. After reversing gains and bouncing off from the main resistance trend line on Nov 7, we could end up seeing a whole candlestick print below $50.

When that happens, then we shall trade in line with previous LTC/USD trade plans selling on every pull back with stops at the highs of the breakout bar. First targets would be at $30. If not and bulls enter the fray rejecting lower lows then we could recommend patience until after we see solid gains above $60.

XLM/USD Price Analysis

A bright spot in the crypto verse has to be morale boosting developments at Stellar. Months after announcement of interstellar—a DEX that runs on the Stellar blockchain, they did announce the pre-release implementation of bullet proofs which is five times faster than Monero’s and executed entirely on Rust via Ristretto group. Rust is a safe but robust programming language with strong privacy features preventing accidental sharing of mutable data while eliminating memory-safety bugs.

Also Read: EOS Price Analysis: Charlie Lee Positive on LN as Monero Prepares for a Hard Fork

XLM/USD Price Analysis

No doubt, Stellar Lumens is this week’s top performer adding 16 percent in the last week and seven in the last day solidifying our last XLM/USD trade plans. Everything else constant, the market is reacting to technical developments at Stellar. Therefore, we suggest buying XLM/USD at spot with stops at 25 cents aware that breaks above 30 cents could ignite a wave of buy pressure targeting 50 cents.

TRX/USD Price Analysis

Aside from increasing on-chain transactions, investors in Turkey can now buy TRX/TRY at Koineks.

TRX/USD Price Analysis

If anything, TRX/USD is at the precipice as price action retests the three month support trend line of the bear flag. Though the path of least resistance appears to be southwards, short term trend will depend on how today close now that there appears to be demand in lower time frames.

If today end up higher we shall have a three-bar reversal pattern and aggressive traders should buy on dips with stops at 2.2 cents and first targets at 3 cents. On the reverse side high-volume losses could trigger a meltdown below Oct lows at 2 cents and with first bear targets at 1.5 cents.

ADA/USD Price Analysis

ADA/USD Price Analysis

The failure of sellers to add to their losses reversing Nov 4 gains mean our bull breakout pattern is now valid. In fact, ADA/USD is up one percent in the last day and up six percent on a weekly basis. A look at the daily chart confirms our last ADA/USD trade plan.

In a classic breakout pattern, we suggest buying on dips or at spot with stops at $7.3 cents with first targets at 9.5 cents. Once there are convincing gains above Oct highs—a mid-range resistance, then conservative traders can begin ramping up with modest targets at 12 cents.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Bitcoin Price Analysis: BTC/USD Increasing Demand ahead of BCH Hard Fork

Aside from regulatory involvement, uncertainty in other blockchains often draws demand for Bitcoin as a store of value. It did happen before and three days before Bitcoin Cash software upgrade, capital could flow into Bitcoin lifting prices above $6,600 igniting short term bulls aiming for $7,200.

Latest Bitcoin News

Still, Bitcoin Cash is one of the most fluid and valuable coin in the space. Though hash rates and decentralization levels pale in comparison with those of Bitcoin, it is still important to track its development. On Nov 15, a software upgrade could turn chaotic as the chain fork once more—to Bitcoin Cash SV or to Bitcoin Cash ABC. This is free cash for BCH owners and more cash for Bitcoin owners who happen to own Bitcoin Cash following last year’s fork. But on focus are expectations of higher high ahead of the fork as funds flow from BCH to Bitcoin and stable coins. In that case we expect BTC/USD to rise as it becomes a temporary store of value and a refuge against volatility.

Also Read: Early Bitcoin Pioneer Speculates Who Nakamoto Is, Gives $100 Million in Asset Away

But even if this is temporarily, it could be the sparks necessary for higher highs now that the political landscape is changing. As results began streaming in following US Mid-term elections, three pro-Crypto in Gavin Newsom, Jared Polis and Boulder would be sworn in. All are crypto friendly and progressive with Gavin Newsom representing California. Their involvement in the national stage is important and they could end push for supportive legislation as the SEC review nine different Bitcoin ETF proposals.

BTC/USD Weekly Analysis

Weekly Chart

BTC/USD Price Analysis

Despite price declines in lower time frames, BTC/USD is technically bullish. It is still in green territory when we take a top-down approach. Most importantly BTC is trending above the main resistance trend line. Moving on we shall retain a BTC/USD bullish outlook suggesting buying on dips in lower time frames as long as it is trading above $6,300 or week ending Oct 21 lows.

Related: Bitcoin Falls to $6,300 Region as Altcoins Continue to Decline

This is so because at the moment Bitcoin is ranging and oscillating within a tight $300 range with caps at $6,800 on the upside and $6,300 on the downside. High volume moves in either direction point to underlying bullish or bearish momentum. However, considering the depth of this year’s correction, it’s likely that bulls would drive above $7,000 thanks to supportive fundamentals as Bitcoin Cash contentious hard fork.

Daily Chart

BTC/USD Price Analysis

Even if prices are ranging or printing higher, our BTC/USD trade plan anchors on how prices respond to Oct 15 high volume bull bar. Everything else constant the accumulation of prices inside that bar mean our previous forecasts is true and sooner we could see prices expanding above $6,800-$7,000 resistance zone.

But, before we suggest buys it is important for bulls to reverse recent losses and close above $6,600 and the support trend line cancelling the bear breakout of Oct 29. If not and sellers drive prices lower below $6,300 then odds of further losses below $5,800 or 2018 lows would be high. As a result, we suggest taking a neutral stand until any of our trade conditions are live.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Without a Digital Currency, Sweden Faces the Privatization of Money

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Without a Digital Currency, Sweden Faces the Privatization of Money


Retail payments in Sweden are now almost entirely cashless. Without a central bank digital currency (CBDC) Sweden’s entire payments market would be reliant on the private financial sector.


Cecilia Skingsley, Deputy Governor of the Central Bank of Sweden, has authored an article as part of the World Economic Forum’s Annual Meeting of the Global Future Councils. The piece describes the financial issues issue faced by Sweden.

A Historical Change

In Sweden today, cash in circulation forms just 1% of the countries GDP. Skingsley writes:

If cash stopped working, it would leave all individuals to rely on the private sector for access to money and payment methods. It would be a historical change without precedence.

In Sweden, retailers don’t have to accept cash at all, and some banks don’t offer cash services. On top of this, citizens are open to new, cashless, technologies quickly adopting payment cards, applications, and even cryptocurrencies.

The payment application Swish has been downloaded by half the population and is even used to pay pocket money and at street markets. Settlements are enabled by the central bank’s real-time gross settlement system. Skingsley says:

Swedes could therefore find themselves in a situation where cash is no longer generally accepted as a means of payment.

If the central bank takes no action, says Skingsley, it would need to accept Swedes will not be accessing central bank controlled money changing the “scope for the public sector.”

The payment market would have to be regulated and supervised in new ways to meet fulfil the objective to have a safe, efficient and inclusive payment market.

The e-krona

Or, Sweden’s central bank could pursue its concept “e-krona” central bank digital currency (CBDC), an idea that was first revealed in 2016. Skingsley revealed a few details of the basic concept:

It would be digital, and have a 1-to-1 conversion with an ordinary krona held in an account at the Riksbank or stored locally, for example on a card or in a mobile phone app.

The Central Bank of Sweden (Sveriges Riksbank), would provide the infrastructure for e-krona transactions and payment service providers. Skingsley speculates on whether the currency would earn interest or not, but in her article, avoids comment on the use of blockchain technology.

In the bank’s last formal report on the e-krona, issued on October 26, 2018, it confirms it is beginning to design a technical solution to “test which solutions are practicable and possible to realise.”

The report confirms of blockchain, or distributed ledger technology (DLT):

Our opinion is that it is not appropriate to develop an e‐krona based on one of the current versions of DLT.

However, due to the pace of technological improvement for blockchain and DLT, the e-krona project “cannot therefore rule out a DLT solution becoming relevant in the longer term.” The report also states that whichever technology it pursues it must be “able to interact with DLT.”

Sweden is not alone in considering a cashless future. The Bank of Korea, in the world’s third-largest cryptocurrency market, is also considering the potential of a CBDC and Spain has recently announced that it is exploring the concept.

How long do you think it will take for a credible CBDC to emerge and will blockchain or DLT be used?


Images courtesy of Shutterstock.

Iran’s Rial-Supported National Crypto to Go to Commercial Banks as Sanctions Grow

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Iran’s Rial-Supported National Crypto to Go to Commercial Banks as Sanctions Grow

Iran is moving ahead with the implementation and testing of a national cryptocurrency, after the Trump administration last week re-imposed sanctions on the country, that had been suspended under the so-called Iran Deal. Iranian commercial banks will have first access to the, in effect, rial-backed stablecoin as it completes its “pilot stage,” according to the Ibena Persian news outlet.

 

Little information is available on the mechanics or specifications of the developing currency, which has reportedly been developed for the Iranian central bank by Informatics Services Corporation (ISC). We do know that minting of coins will be done exclusively by the central bank and backed one-to-one with the national currency, according to a spokesperson for the developer. This system presumably precludes the possibility of either proof-of-work or proof-of-stake functionality.

 

According to Ibena, ISC spokesperson Seyyed Abotaleb Najafi said that the tokens will be used by commercial banks as “payment instrument[s] in transactions and banking settlement.”

 

The prospect of a government-backed Iranian cryptocurrency has been discussed for several months now, in both the crypto-press and traditional press, backgrounded by the threat of crippling sanctions. It appears that the increasing pressure of sanctions has provoked Iran into realizing these experimental measures, as it has done to other countries excluded from the global financial system by mostly U.S.-driven sanctions.

 

One of Iran’s primary concerns is the unwinding of its oil exports, which have already taken a hit after Trump announced his intention to renew sanctions earlier this year.

 

Growing EU-US rift

The promise of uncensorable cryptocurrencies came especially into focus last week, as the Belgium-based SWIFT financial messaging service announced exclusion of service to some Iranian banks, as a result of direct U.S. threats to sanction SWIFT itself if it does not comply.

 

The SWIFT system is a vital circulatory system for the global financial system, which reportedly links over 11,000 global financial entities in more than 200 countries – thus, being excluded from it can mean ruinous exclusion from vital global markets.

 

SWIFT, ultimately a private company, has found itself at the center of a major U.S.-European Union (E.U.) political rift, as several European nations are staunchly opposed to renewed sanctions against Iran, which threaten to scuttle the Obama-era nuclear deal. The E.U. has likewise threatened punitive action against SWIFT for caving to U.S. pressure on the matter.

 

European concerns have in fact been so grave that they have committed to developing a “special vehicle” to keep open financial channels with Iran and keep business flowing, in order to reduce both the economic and political impacts of U.S.-backed sanctions.

 

This special vehicle is still in negotiation, and was not ready by the time the renewed sanctions were announced last week, according to the Financial Times of London.

EOS Gets Its First Stablecoin: CarbonUSD (CUSD)

On 9 November 2018, New York-based blockchain startup Carbon-12 Labs (better known as “Carbon”), which develops a stablecoin called CarbonUSD (CUSD), announced that CUSD was available on the EOS platform. In this article, we take a closer look at CarbonUSD.

Carbon, which was founded by Samuel Trautwein (CEO), Connor Linn, Gavin Mai (CPO), and Miles Albert (CSO), originally launched CarbonUSD on the Ethereum platform on 12 September 2018. CarbonUSD is a price-stable cryptocurrency that is fully-collateralized 1:1 by U.S. dollars held in FDIC-insured accounts.

However, the long-term plan, according to Sam Trautwein, the company’s CEO, is to transition a “fiat-backed algorithmic hybrid approach” once “CarbonUSD reaches sufficient scale as a fully fiat-backed token.” Here is how he explains it:

“While redeemable, fiat-backed tokens are generally trusted on day 0, they are intrinsically unscalable. Structurally these tokens are multi party bearer receipts meaning that their soundness depends not on a single fail point, but rather usually four to five. If the auditor, the bank, the trust company, the smart contract auditor, or the software provider fails (in any sense of the word), the entire structure comes tumbling down. As the stablecoin scales it undergoes significant strain. They draw increased regulatory scrutiny meaning that small things that were once overlooked now will draw the ire of governing bodies. In many ways Tether outscaled its compliance. They lost their ability to withdraw and deposit through Wells Fargo overnight. It’s difficult to build a new paradigm within the old paradigm.”

“Combining the two presents the best route forward. We offer the optimal consumer product today and tomorrow. The transition will be gradual and transparent as we will leave the infrastructure in place for users to keep using fiat-backed solutions if they so desire.”

However, on November 9th, Carbon announced that CarbonUSD was now also available on the EOS platform. In a blog post published on November 10th, Trautwein explained that “Carbon’s interoperability solution enables CarbonUSD users to transfer their tokens onto the EOS blockchain, where users can transfer CarbonUSD with even lower fees and faster settlement than on Ethereum.” He added:

““We are honored and excited to be the first stablecoin on EOS and to play such a crucial role in such a burgeoning ecosystem. Stablecoins are critical infrastructure for value and we think providing this to EOS further enhances the ecosystem.”

Trautwein went on to explain how deposits/withdrawals work:

“To create new CarbonUSD tokens, users can make fiat deposits with the company’s partner bank, Nevada-based Prime Trust. Frequent third-party attestations by leading auditor Cohen & Co. verify publicly that each token is backed 1-to-1 by escrowed funds in a trust account.”

Sam Kazemian, Co-Founder and President of Everipedia (an EOS DApp that calls itself “the world’s largest encyclopedia on the blockchain”), stated:

“Stablecoins, as an asset class, are the next big thing in crypto and will lead to a new bull market in the next 6–18 months. Carbon’s unique hybrid approach for gaining stablecoin adoption is the most promising I know of. There’s no other project like it”.

Featured Image Courtesy of Carbon-12 Labs

Blockchain Set to Change the Face of Commercial Real Estate As We Know It

The real estate industry has seen significant growth since the recession. With market prices predicted to increase along with millennial demand in 2019, the industry is as welcoming as ever. Although the market is improving, it is still plagued by issues that make the investment process less convenient than it should be.

Major drawbacks of the real estate industry

Real estate investment has three major drawbacks: the presence of intermediaries, the lack of affordable funding options, and fraud.  

Agents take up to six percent of the total payment made on a real estate asset. This means that intermediary fees would account for over $23,000 for a house that costs $400,000. Unfortunately, up to 80 percent of home buyers still use an intermediary and continue to pay these fees according to a report by the National Association of Realtors.

Real estate is also expensive and the prices continue to climb, limiting access for a greater part of the population. According to research by CNBC, an investment of $1 million will most likely buy about 270 square feet of prime property in New York. However, only about 10 percent of US residents can afford such a price tag.

Finally, the commercial real estate industry is rife with fraud, not just in the United States, but globally as well. According to a statement by the FBI, the internet crime complaint center saw a 480 percent increase in real estate fraud complaints filed in 2016. These crimes, including title fraud and online sale scams are aided by the rarity of trusted platforms where real estate documents can be verified.

How exactly can blockchain fix these issues?

A blockchain is an immutable ledger in which transaction data can be recorded. Its benefits include transparency, traceability, accessibility, and enhanced security. When implemented in the real estate industry, these properties can solve its major issues.

Blockchain real estate platforms eliminate the need for intermediaries like lawyers and agents by providing a means of property verification and payment to buyers. Paying for property using cryptocurrencies can also help buyers bypass bank fees. It cuts the fees associated with escrow by offering smart contracts that can be customized according to a users’ needs.

The tokenized nature of cryptocurrencies like Bitcoin and Ethereum makes crowd ownership of real estate possible. Those who cannot afford to purchase the whole property can simply buy a part of it, like buying shares in a company. Such investors would receive transferrable tokens that represent their shares and can be verified easily on a blockchain. This makes real estate investment accessible to more people.

Blockchain can also prevent fraud in the industry by providing a way to easily authenticate property documents. As these properties are transferred, their records are added to the blockchain and a comprehensive history is formed. In the event of a sale, buyers can easily check if property is fraudulent.

Bringing blockchain innovation to real estate

Several companies are working to bring these solutions to the commercial real estate industry. One such company is i-House.com, which implemented a series of ATO (Asset Tokenization Offering) projects in less than a one- year span. These projects allow users to crowdfund real estate development projects using IHT, the company’s cryptocurrency. So far, their reach has extended to the U.S., Japan, Thailand, and the Philippines.

The i-House ATO model provides real estate accessibility and a verifiable platform for related transactions. By Implementing such a concept in the industry, the i-House ATO platform is positioned to disrupt it positively. i-House.com Chairman and Founder, Ricky Ng., said:

“We aim to create a shared economy asset management ecosystem that spans across the globe, i-House ATO provides real estate owners, developers, and end users the means to own and share assets easily”

Cryptocurrency that empowers real estate investors worldwide

IHT was recently listed on the Bittrex exchange and South Korea’s largest exchange, UPbit. IHT is currently listed on nine other exchanges including Cashierest, KuCoin, Gate.io, Coinw, LBank, HitBTC, CoinBene, CoinTiger and Allbit. The company stated that it hopes to get listed on more top global exchanges in the future.

The future of blockchain real estate

Blockchain presents an opportunity to change how real estate transactions are handled. Everything from land registry to provenance and payment systems currently have a lot of room for improvement. With better systems in place, there will be more incentive to invest in the industry and further bolster economic growth.

As companies like i-House.com make these changes to the industry, the real question lies in how quickly others will follow suit. Will this be one of those things that don’t become mainstream until there is a crisis in the industry? We may have to sit back and watch.

Author:Hazel Agoni

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Crypto Africa Roundup: Why South Africans Buy Crypto, Zambian Authorities Shut Down Scam

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Crypto Africa Roundup: Why South Africans Buy Crypto, Zambian Authorities Shut Down Scam

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In our Crypto Africa Roundup, YouHash take a look at some recent developments on the fast-growing crypto continent.

Luno Sheds Light On Why South Africans Buy Cryptocurrencies

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Luno, a London based, South African founded company that provides Bitcoin exchange and wallet services to more than 2-million customers in 40 countries, recently published the results of a South African survey conducted by Kantar TNS entitled “Why do people buy cryptocurrencies?”

The survey was conducted with over 1,000 online respondents, and the report concedes that there is likely to be some bias since South Africans with internet access tend to be wealthier. Some of the key metrics from respondents are as follows:

69% 

are familiar with cryptocurrency

29%

already own cryptocurrency

53%

are interested in buying cryptocurrency

83%

of respondents who already own cryptocurrency see it as an investment

23%

use cryptocurrency for online transactions, only 12% transfer it to friends and family

74%

would like to pay with cryptocurrencies in a shop or online store

18%

declared no interest in owning cryptocurrency

An interesting feature of the report was the fact that “the uptake of cryptocurrencies has been marginally higher among younger South Africans but overall age has not proven a significant differentiator,” according to the report. This contrasts with the conventional wisdom that younger people are not just more “digitally aware’, but have an increased appetite for financial risk.

Zambian Authorities Arrest 3 In Apparent Cryptocurrency Scam

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Zambian authorities have arrested and released on bail 3 individuals, Hilda Raubenheimer, Orient Zekko, and Tapiwa Chirwa on suspicion of defrauding investors to the tune of $2,4-million in a high return scheme that promises to “create wealth with ease.”

According to the company brochure, HeritageCoin Resources claims to be tax compliant, and makes use of actuaries to “stay on top of the game”. These insights allowed the company to promise returns of 1.6% per day to investors provided they remained invested for 25 working days. Prospective investors were promised that their funds would be invested in cryptocurrencies, whereas according to authorities it is alleged that it was nothing more than a ‘money circulation scheme’.

The company’s error strewn brochure sets out the company target of moving 15% of Zambians above the poverty threshold in 15 months – 1% of the entire country taken out of poverty each month. Whilst that would be an impressive achievement for the government of any country, it would be an astonishing feat for a small company operating out of an office in a shopping mall in Lusaka.

According to the Zambian Drug Enforcement Commission’s PRO Chibu Tembo, the three have been arrested and charged with “providing banking business, financial business or financial services without a licence, conducting or participating in a money circulation scheme, obtaining money by false pretences and money laundering contrary to the laws of Zambia.”

Digital Asset Custodians to Require Licensing by Mauritius Regulator

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The Mauritius Financial Services Commission (FSC) has recently announced its intention to regulate the custodianship of digital assets on behalf of third parties, as it claims the existing legislation does not sufficiently cater for the asset class.

The FSC is in the process of awaiting feedback from the public, industry and interested parties in relation to a draft consultation paper entitled, “Regulatory Framework for the Custodian Services (Digital Asset) dated 5 November 2018.

The licenses currently issued by the FSC for custodians traditional financial services providers are inadequate insofar as the requirements for the safekeeping of crypto assets, whereas the digital asset license is specifically designed to ensure compliance with current regulations.

The digital asset licence will recognise the holder as a financial institutions under the Financial Intelligence and Anti-Money Laundering Act. In addition, crypto business will have to hold unencumbered reserves of $15,000, have offices in the country, and have permanent representatives answerable to the FSC. In terms of ownership, at least on director should be a local resident.

Getting to Know Africa’s Blockchain Movers and Shakers

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Monica Singer is the South Africa Lead for ConsenSys, an international company that focuses on building blockchain applications on the Ethereum platform. She is a powerful and credible voice for blockchain and believes that few industries will be untouched by blockchain in the future.

A Chartered Accountant (South Africa) and Fellow of the Institute of Directors, Ms Singer was the first CEO of South Africa’s Central Securities Depository, Strate (Pty)Ltd, which she set up in 1998. In 2017 and after heading Strate for 18 years, Ms Singer left with the intention of starting her own blockchain consultancy, but ended up accepting an offer from founder Joseph Lubin to build ConsenSys’s South African business.

With her passion for blockchain and powerful business experience, Ms Singer is a convincing and credible force on the continent in replacing outdated and vulnerable systems and processes with the smart contracts and blockchain solutions.

Taiwan’s First Blockchain Experiment to Economy Proves to Be a Major Success

The Airline and Life Networking Token (ALLN), a blockchain of aviation and tourism industry created by Huafu Enterprise Holdings Limited and announced back in April 2018, has proved to be a major success, making it an unprecedented case in Taiwan’saviation, tourism, and economic industry, the company behind the technology announced in a press release on November 7, 2018.

ALLN Networking Token: The World’s First Airline and Life Blockchain Asset

Created by Huafu Enterprise Holdings Limited, one of the leading tech companies in the world of the blockchain, the Airline and Life Networking Token (ALLN) was one of the first blockchains of aviation and tourism ever created.

Announced back in April 2014, the project has already proved to be a significant success, not only for Huafu Enterprise Holdings but also for the entire country of Taiwan, which continues to lead the way among its Asian peers when it comes to blockchain adoption.

According to a November 7, 2018, press release from Maxonrow, the success of the ALLN token is reflected in the number of records broken by the project. The company stated that the ALLN was the first aviation tourism digital asset to partner with Southeast Asia’s biggest digital asset exchange MBAex, as well as the first token to collaborate with Maxonrow.

Other thresholds have also been broken by the project, including the Far Eastern Air Transport Corporation becoming the first aviation company in Taiwan to use blockchain in the real economy and be in alliance with the biggest blockchain incubator in the country, M.O.B.C.

Industry Leaders Quick to Adopt the ALLN Token

Founded in 1957, the Far Eastern Air Transport Corporation (FAT) is Taiwan’s first aviation company. Shortly after its founding, the company also became the first airline to offer flights to Mainland China.

Huafu Enterprise Holdings Limited Chief Operating Officer, Tseng Chin-Chih said:

“Now that we have Huafu’s ALLN Networking Token set into action, we are once again pioneers in the world of aviation tourism by applying blockchain technology to the real economy. By setting this example, we look forward to more corporations to join and lead Taiwan’s economy into the next era.”

According to the Maxonrow release, FAT is not the only major Taiwanese company the ALLN Networking Token is forming alliances with. ALLN has reportedly built partnerships with Southeast Asia’s biggest digital asset exchange MBAex, the world’s biggest blockchain incubator M.O.B.C., and Maxonrow.

Maxonrow’s CEO for the Asia region, Jin Tai, called the ALLN Token “a turning point for Taiwan’s economy,” and that the company is looking forward to further implementing their unique KYC mechanism into the real economy.

Fork Wars: Bitcoin Cash SV Surges as Craig Wright Reveals 50%+ of Hashpower Support It

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Fork Wars: Bitcoin Cash SV Surges as Craig Wright Reveals 50%+ of Hashpower Support It

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Bitcoin Cash SV (SV), the protocol backed by self-proclaimed Satoshi Nakamoto Craig Wright, has recently seen its price surge well over 50% as it has been revealed over 51% of the network’s hashrate is currently supporting the SV development team.

During an interview with Tone Vays that was recently published on YouTube, Wright revealed that some more miners will be supporting Bitcoin Cash SV, but haven’t made it public yet. Nevertheless, those that already support it have already surpassed the 51% hashrate threshold.

Data from Coin.Dance shows that this has indeed happened, as the pools supporting SV are CoinGeek, Mempool, BMG, and SVP. Together, these account for roughly 56% of the network’s hashrate.

Bitocin Cash's current hashrate distribution

Notably, having a majority of the hashrate means that if the BCH blockchain does split, the miners can together “kill off” the competing chain by deploying their hashpower to only mine empty blocks on it. This would stop transactions from going through, making the cryptocurrency useless.

The move, which some see as an aggressive move, is to Wright “part of the protocol,” which allows it to happen. The threat of such an attack is so real that a group of miners have grouped together to form the SharkPool and revealed they will “exclusively” mine empty blocks.

While according to some the attack may merely be a bluff, the other side is looking to respond. As CryptoGlobe covered Bitmain, the world’s largest cryptocurrency mining hardware manufacturer, has been looking to deploy 90,000 Antminer S9 ASICs ahead of the hard fork.

Given the hashpower on SV’s side, futures of the implementation being traded on Poloniex have recently surged well over 50%. At press time, they’re trading at 113 USDC, while the BCHABC implementation has dropped nearly 15% to 406 USDC.

BCHSV's pricei s seemingly recovering

These pre-fork futures, as covered, are seen by Wright as a “criminal offence.”

Bitcoin Cash’s Upcoming Hard Fork

The hard fork schedule for November 15 on the bitcoin cash (BCH) blockchain doesn’t have consensus from the community. Two sides, BCHABC and BCHSV, have different visions for the future, and they aren’t compatible with each other.

Bitcoin Cash ABC, the one that originally forked Bitcoin’s blockchain, supports key technical changes that could make “atomic swaps” easier, while maintaining the 32 MB block size. Bitcoin SV, backed by Craig Wright and nChain, plans to increase the size to 128 MB.

During the interview, Vays asked Wright if he was worried Jihan Wu, the CEO of Bitmain, would use hashpower from Antpool, a Bitmain-owned mining pool with 13.5% of bitcoin’s (BTC) hashrate, to compete. Wright replied:

“I’m really hoping for it. See, I don’t believe in code is law, I believe in law is law. We’ve already been talking to lawyers and if you start doing that as a director of a company in China, where the laws are even more restrictive than in the UK or US, and you without authorization spend shareholder money… I’m really hoping he does. I beg Jihan, please do that. Please Jihan. Please do that.”

If the current trend continues, BCHSV’s futures may see their price rise above those of BCHABC’s. Yesterday, November 10, they were significantly down at 69 USDC, while BCHABC was at 470 USDC.