Greetings! In today’s digest – blockchain-based personal authentication services, China is world leader in blockchain projects, opinion about cryptocurrency, Bibox crypto exchange rolls out blockchain project incubator and Bitcoin price jumps above 4,900$.
Blockchain-based personal authentication services
ICONLOOP has integrated its blockchain technology to SBI Savings Bank’s personal authentication service. SBI Simple Authentication is the first blockchain-based authentication service launched in the Korean savings bank industry is now open to public.
‘SBI Simple Authentication’ establishes a safe user authentication process by applying private and public key structure, while being compatible with the existing certificate standards by adopting their specifications.
China is world leader in blockchain projects
There are 263 blockchain-related projects in China, accounting for 25 percent of the global total. The financial sector is the biggest user of blockchain technology, particularly in asset securitization for banks and brokers.
Data collected by Thomson Reuters from the international patent organization showed that over half of the 406 patents in 2017 were from China: the country filed 225 Blockchain patents, followed by the U.S. (91), and Australia (13).
Opinion: cryptocurrency will be limited to ‘bitcoin and its forks’
Elizabeth White, the CEO of The White Company, a New York-based crypto concierge service for upscale clients that helped facilitate over $250 million in digital asset transactions last year, recently shared her insights regarding the future of financial markets. She believes “it’s very unlikely at this point” that the nascent crypto industry will overtake, or replace, the world’s trillion dollar financial system. She confirmed that “the volume of international payments in fiat absolutely dwarfs the cryptocurrency markets.”
Why would governments, international companies and people switch from accepted currencies like the US Dollar and use Bitcoin in everyday transactions? There is simply no need to do so, and nothing that is truly pushing adoption at that scale. Of course, Bitcoin will always survive, because it does have a use as [it’s] not being directly tied to the currency of one country, and there are legitimate concerns about whether the USD will retain its global dominance.
Bibox crypto exchange rolls out blockchain project incubator
Leading cryptocurrency exchange Bibox is launching an incubator for blockchain projects called Bibox Orbit. The announcement does not specify the exact date of the project launch and only says that “it is aimed to provide the best growing environment for high potential blockchain projects and assist them with ecological construction and long-term development.”
Estonia-based Bibox — the ninth largest cryptocurrency exchange in terms of adjusted trading volume.
Bitcoin price jumps above $4,900
The price of bitcoin, the world’s largest cryptocurrency by market capitalization, shot up 17 percent within 30 minutes on Tuesday to reach its highest level in four months.
Bitcoin’s market capitalization has also risen significantly, up $5.1 billion on the day to $78.8 billion, its highest since Nov. 22, 2018.
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