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Reliance Acquires 5.56% Equity Stake in UK-Based Blockchain Technology Firm, VAKT Holdings

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Bitmex liquidation prize when catching knifes – Btc Bitcoin News

Dependence Sector (RIL) is currently intending to increase as well as change its electronic trip by accepting using blockchain innovation. The firm has actually gotten a 5.56% equity risk in blockchain start-up VAKT Holdings Ltd, UK (VHL) for $5 million or around Rs 35 crore.

VAKT is a consortium of 9 leading international power business as well as financial institutions dedicated to accepting blockchain innovation as well as interacting to establish remedies to olden issues dealt with by markets. According to the company, it intends to change complete profession life-cycle as well as via blockchain, it guarantees to get rid of settlement as well as paper-based procedures, improve effectiveness as well as develop brand-new profession money possibilities.

Dependence in a governing declaring claimed:

” The calculated financial investment speeds up Dependence’s electronic trip, via energetic engagement in an arising as well as progressing, yet appealing, blockchain allowed innovation option for power markets.”

This is Dependence very first financial investment in a blockchain-based innovation company as well as is spending greatly in the field. The firm is supposedly preparing to construct a committed group for arising innovation such as Expert system, Artificial Intelligence as well as Blockchain Innovation.

The firm was lately in information for working out India’s very first blockchain profession money purchase with aid of HSBC.

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Blockchain Technology: The New Arsenal to Solve Banking Problems

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Blockchain Technology -- The New Arsenal To Solve Banking Problems

Banking and finance industry is neck –deep in problems. From frauds, credit risks, to data breaches, the industry is reeling under mounting pressure to increase customer satisfaction, outweigh competition, and improve its bottom line.

The invention of Bitcoin, cryptocurrency, was a trendsetter in the banking industry. Bitcoin allows peers to share currency across a network, without the need of a central bank. It made banks realize the usefulness of cryptography, transparency and more. Since 2008, when Bitcoin was introduced in the market, it has grown in value. At the time of writing this article, it is valued at $7,107.98

According to a report, 90% of European and United Sates banks experimented with blockchain-based solution in 2018.

Combining banking and blockchain

Blockchain, the technology underlying Bitcoin, is a promising technology for the industry. Blockchain poses solution to resolve several operational challenges, making them more efficient, faster, and result driven. Characteristically, Blockchain facilitates transparency, security, and immutability. Meaning any record on a network will be visible to the people on the network. Secondly, records on the network will be secured, eliminating possibilities of data theft and other data breaches. Further, data modification is an intensely scrutinized process on blockchain. Therefore, data remains unchanged until a consensus is delivered.

Not only this, blockchain has ushered in a revolution, marking entry of new job roles like blockchain engineers. The number of jobs software engineers with blockchain development skills has increased by 517% in the past year, according to Hired.

How does blockchain benefit banking and finance industry?

Banking and finance remains a sophisticated industry with complex processes. Blockchain presents a solution to simplify those processes, streamline operations and make them more convenient. Blockchain clearly has a promising side to it for banking and finance sector.
Blockchain is beneficial to banking and finance for the following reasons –

1. Security — Data security is a primary concern in retail as well as commercial banking. Banks have multiple levels of security layers – front office, middle office, and back office. Data is passed through these layers. Still chances of servers being hacked are still there. With blockchain, this problem is eliminated. As every time data is accessed, it is recorded. Further, chances of being hacked is reduced drastically.

2. Accessibility – To access data at a bank, there are multiple levels which are processed by legacy systems. With Blockchain’s decentralization, it would be easier to access information. This will make the process of accessing information faster. Whether this will lead to any monetary benefit or not can be answered after a period of time.

3. Auditing – Auditing is an expensive and time-consuming process, where compliance officers and executives decide which information to keep and what to share with regulatory bodies to suit the bank’s narrative.

With a decentralized database, government and regulatory agencies can see exactly what the bank has done. As modification of data isn’t permissible on blockchain, it would compel banks to stay honest and ethical in their approach to work.

4.  Jobs – Working with blockchain-based solutions requires a particular set of skills, except banking. These skills are hard to come by unless you are taking a blockchain certification or a course. So blockchain is driving an all-new workforce toward banks. People who are equipped with the skills can find opportunities at banks.

Perhaps, Bitcoin, the first of blockchain-based financial entity would continue its legacy and we will see new trends set banking and finance sector on a progressive path. Let’s wait and see what the future holds for blockchain and BFSI.

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Billionaire James Richman increases cryptocurrency investments due to growing demands from clients

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Billionaire James Richman Increased Crypto Investments

Cryptocurrency is finally receiving the attention it deserves, and even though some has been negative, the majority understands the importance of a decentralized currency. Another addition to the cryptocurrency bandwagon is JJ Richman- a private asset management company.

Investors Investing in India

This company has been at the forefront of Bitcoin and Blockchain investments even before the 2017 boom, but increased client demand has pushed them to increase investments in cryptocurrencies.

richman

James Richman lead this family-run company that invests in diversified assets and sectors globally. This exclusive asset management company only includes ultra high net worth individuals (UHNWI) as their clientele. This elite clientele demanded crypto investments that led to the Richman’s increasing their private investment funds in this industry.

Bitcoin, the most popular cryptocurrency, is valued over $8,000, and despite its occasional volatility, most investors are bullish about the cryptocurrency sector.

Crypto is more convenient, faster, and secure as compared to traditional banking systems. Decentralization is the most significant benefit of this digital currency, and it’s no surprise that its demand is growing.

This firm’s investments are focused on real estate, equities, digital media, and bonds and include cryptocurrency as well. JJ Richman has ensured the clients of their credibility by investing their own money in the fund. James’ private nature has contributed to his and the company’s success.

JJ Richman and their clients realized the potential of crypto, and this motivated them to increase investments in the cryptocurrency sector.

Source: Coinnounce

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Bitcoin Falls Under $4,000 as United States Oil Rises

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Market Visualization Courtesy of Coin360

Tuesday, March 26 — a lot of the high 20 cryptocurrencies are reporting slight losses on the day by press time, as Bitcoin (BTC) has fallen beneath $4,000 once more.

Market Visualization Courtesy of Coin360

Bitcoin is down over a p.c on the day, buying and selling at round $3,967, based on CoinMarketCap. its weekly chart, the present worth is over two p.c decrease than $4,060, the value at which Bitcoin began the week.

Bitcoin 7-day price chart

Bitcoin 7-day worth chart. Supply: CoinMarketCap

Just lately, crypto bull Tim Draper has given recommendation to the president of Argentina to legalize Bitcoin with the intention to enhance the financial scenario within the nation.

Ethereum (ETH) is holding onto its place as the biggest altcoin by market cap, which is at about $14.2 billion. The second-largest altcoin, Ripple (XRP), has a market cap of about $12.6 billion by press time.

ETH is down by about one p.c over the past 24 hours. At press time, ETH is buying and selling round $134, after having began the day at $135 and reporting a mid-day low of $133. On its weekly chart, Ethereum has seen its worth improve almost 4 and a half p.c.

Ethereum 7-day price chart

Ethereum 7-day worth chart. Supply: CoinMarketCap

As Cointelegraph reported yesterday, Ethereum co-founder Vitalik Buterin has argued that the crypto neighborhood ought to evolve past the individualism related to its early cypherpunk days, and harness know-how to create new, equitable and progressive methods with constructive social impression.

Second-largest altcoin Ripple has misplaced about one and a half p.c within the 24 hours to press time, and is at present buying and selling at round $0.301. Wanting on the coin’s weekly chart, its present worth is over 5 and a half p.c greater than $0.318, the value at which it began the week.

Ripple 7-day price chart

Ripple 7-day worth chart. Supply: CoinMarketCap

Among the many high 20 cryptocurrencies, the one ones reporting good points are Cardano (ADA), which is up over two p.c, and EOS (EOS), which is up about half a p.c.

The full market cap of all cryptocurrencies is at present equal to $137.4, which is over two p.c decrease than $140.Four billion, the worth it noticed one week in the past.

In conventional markets, the inventory market is seeing discreet development thus far right now, with the S&P 500 up 0.56 p.c and Nasdaq up 0.65 p.c. The CBOE Volatility Index (VIX), then again, has misplaced a stable 5.51 p.c on the day at press time.

Earlier right now, CNBC reported that United States Oil rose 2 p.c because the OPEC provide was minimize.

Main oil futures and indexes are displaying combined actions right now, with WTI Crude up 1.84 p.c, Brent Crude up 0.84 p.c and Mars US down 0.19 p.c. Opec Basket can be down by 1.64 p.c, and the Canadian Crude Index has seen its worth improve by 2.26 p.c, based on OilPrices.

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Bitcoin.com Is Giving Away 6 Tickets for the Anon Blockchain Summit in Austria

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Bitcoin.com Is Giving Away 6 Tickets for the Anon Blockchain Summit in Austria – BTC News Online

Bitcoin.com is giving you the chance to win one of six tickets to attend the Anon Blockchain Summit Austria 2019. Winners will be picked randomly and announced via social media channels on Friday.

6 Tickets Are up for Grabs

To take part, you need to visit Bitcoin.com’s giveaway page. Each winner will be sent a code that can be redeemed at the summit’s Eventbrite site. To do so, click “Enter Promotional Code” in the top right corner of the ticket box. Each code will provide one ticket.

a Rafflecopter giveaway
Bitcoin.com, which is a media partner of the conference, will also surprise guests and participants with giveaway packs that will contain cool prizes such as Bitcoin.com’s Golden Tickets.

The Anon Blockchain Summit will be held on April 2 – 3 in the Austrian capital, Vienna. Over 80 speakers have been invited to share their knowledge and views on how crypto-related technologies can change the world.

Conference to Welcome 1,500 attendees

The organizers expect Austrian and EU officials, representatives of 20 innovative projects from the industry, and more than 100 investors. Around 1,500 attendees will visit the Gösserhalle venue that will host the event.

Bitcoin.com Is Giving Away 6 Tickets for the Anon Blockchain Summit in Austria

The conference will focus on real life blockchain use cases and applications of the technology in areas such as business and government, banking and finance, energy, science, and healthcare.

Multiple workshops, an innovation challenge, and the Blockchain in Mobility Hackathon will provide numerous opportunities for startup teams to meet with renowned advisors and potential investors.

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Over 340 UK Crypto or Blockchain Companies Ceased Operations in 2018

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Bitcoin report projects the date of the next all time high. It’s May 27, 2020. – Btc Bitcoin News

At least 340 cryptocurrency or blockchain companies were dissolved or liquidated this year in the United Kingdom (UK), British news outlet Sky News reported on Dec. 22.

UK crypto companies in 2018. Source: SkyNews

The aforementioned article also reports that last year, the number of companies in this industry that had been liquidated amounted to 139, nearly two and a half times less than this year. Moreover, 60 percent of the companies dissolved this year ceased activity between June and November.

According to the reported data, more than 200 of the now-dissolved companies “were incorporated with Companies House during 2017.” This year, according to the article, newly-registered crypto companies were growing slower than the number of dissolved businesses for the first time.

The data upon which Sky News reportedly based its article has been gathered from OpenCorporates, a website sharing data on corporate entities, and Companies House, the U.K.’s registrar of companies.

The current downward crypto market movement in 2018 has taken its toll on some of the biggest companies in the space as well.

Chinese crypto mining giant Bitmain reportedly closed its Israeli development center in mid-December, laying off 23 employees.

And ConsenSys, a global community made to create and promote blockchain infrastructure and decentralized applications (DApps) closely tied to the Ethereum (ETH) ecosystem, has laid off a substantial portion of its employees.

As Cointelegraph recently reported, the number of employees to be laid off could be anywhere between 50 and 60 percent of the total company’s workforce.

However, Joseph Lubin, the co-founder of Ethereum project and founder of Consensys, has pointed out that the company “remains healthy and is engaging in a rebalancing of priorities and activities which started about nine months ago.”

Also, as pointed out by a recent Cointelegraph analysis — even after the recent slump — a LinkedIn study has down blockchain developers are in high demand on the platform, becoming one of the fastest-growing emerging jobs in the United States.

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