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Sistem Blockchain Diuji Coba di Bank Sentral Argentina

Bank Sentral Argentina (BCRA) dikabarkan telah melakukan ujicoba terhadap penggunaan sistem blockchain untuk mendukung operasional harian mereka. Teknologi blockchain yang digunakan sebagai bahan ujicoba sendiri dikembangkan oleh IOV Labs, salah satu pengembang sistem blockchain. Nantinya, sistem ini juga akan diterapkan di beberapa bank komersil seperti Santander dan BBVA. Menurut IOV Labs, sistem ini berbasis pada […]

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Bank Sentral Argentina Ujicoba Blockchain

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Bank Sentral Argentina (BCRA) dikabarkan telah melakukan ujicoba terhadap penggunaan sistem blockchain untuk mendukung operasional harian mereka. Teknologi blockchain yang digunakan sebagai bahan ujicoba sendiri dikembangkan oleh IOV Labs, salah satu pengembang sistem blockchain. Nantinya, sistem ini juga akan diterapkan di beberapa bank komersil seperti Santander dan BBVA.

Menurut IOV Labs, sistem ini berbasis pada jaringan kontrak RSK. Solusi tersebut digunakan untuk memberikan pengalaman perbankan yang jauh lebih baik kepada para nasabah bank-bank tersebut, termasuk menyediakan sistem pembayaran yang lebih kompeten dan transparan.

Solusi di tengah Pandemi

Dengan kondisi dunia yang serba tidak pasti seperti saat ini, solusi-solusi digital memang diharapkan mampu membantu menstabilkan kinerja lembaga bank dan keuangan lainnya. Sebuah sistem yang dapat dengan mudah memproses pembayaran dan transaksi keuangan lainnya dengan cepat memang sangat diperlukan di tengah pandemi. Hal ini dikarenakan semua orang memerlukan proses transaksi yang cepat dan transparan.

Masyarakat memerlukan solusi keuangan yang dapat dipercaya karena situasi ekonomi dunia yang semakin pelik belakangan ini memaksa mereka untuk dapat lebih efektif, terutama dalam hal keuangan. Hal ini ditangkap sebagai peluang yang sangat baik oleh para penyedia layanan teknologi berbasis blockchain.

Teknologi blockchain sendiri memang digadang-gadang sebagai solusi terbaik bagi perkembangan layanan keuangan di masa depan. Teknologi ini memungkinkan para penggunanya untuk melakukan berbagai kegiatan, termasuk transaksi keuangan, dengan cepat dan transparan. Teknologi ini berbasis pada sistem decentralization, dimana data dan informasi yang dicatat di dalam sistem akan dapat diakses oleh semua orang yang memiliki hak atas informasi tersebut.

Lebih lanjut, nyaris mustahil untuk dapat membobol atau memanfaatkan informasi yang tercatat dalam sistem ini dengan cara apapun, karena untuk melakukan perubahan apapun pada suatu data, seseorang harus memiliki izin dari setidaknya setengah dari seluruh pemilik izin.

Awal dari Tren Baru

Jika ujicoba teknologi blockchain ini berhasil dilakukan oleh Bank Sentral Argentina, bukan tidak mungkin hal tersebut juga akan mulai dilakukan oleh bank sentral lainnya di seluruh dunia. Bahkan, terdapat kemungkinan perusahaan-perusahaan milik pemerintah dalam bidang lainnya juga akan tertarik untuk menggunakan solusi tersebut. Hal ini dikarenakan teknologi blockchain memang diciptakan untuk memberi rasa aman kepada masyarakat, terutama dalam hal transaksi keuangan.

Dengan teknologi blockchain, masyarakat tidak perlu khawatir dengan biaya transaksi yang tinggi karena bentuk transaksi tersebut tidak melibatkan pihak ketiga manapun, sehingga biaya layanan pun dapat ditekan. Selain itu, jaminan keamanan data dan informasi para pengguna juga tentunya menjadi fitur teknologi blockchain yang terlalu sayang untuk dilewatkan. Oleh karena itu, tidaklah mengejutkan bila teknologi ini akan menjad standar baru di dunia.

Source: https://www.kanalcoin.com/sistem-blockchain-diuji-coba-di-bank-sentral-argentina/

Blockchain

Facebook’s Diem Unveils Its Latest Stablecoin Plans and Strategic Move to the United States

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Diem, the cryptocurrency project headed by Facebook originally known as Libra, recently announced its plans to launch a stablecoin with its focus scaled back to the United States. 

The company stated earlier this year that it would be relocating its primary operations from Switzerland back to the United States, and would withdraw its payment system license application from Switzerland’s financial regulators. “Diem is simplifying its plans for [its] USD stablecoin issuance by shifting its main operations from Switzerland to the United States,” they said.

This decision was later confirmed by the Swiss Financial Market Supervisory Authority. 

Stablecoins are digital currencies pegged to a fiat currency, with Tether (USDT) and USD Coin (USDC) being two prominent examples. California-based Silvergate Bank will become the sole issuer of the Diem USD, while also managing its dollar reserves. 

Diem to Launch Wholly New Subsidiary Diem Networks US Alongside Crypto Bank Silvergate

In a strategic partnership, the two firms have created a new subsidiary called Diem Networks US — which will run the Diem Payment Network (DPN) to facilitate transactions of Diem stablecoins within its network. 

“Silvergate is a leader in financial innovation and an ideal partner for Diem as we move forward with a blockchain-based payment system that protects consumers and enhances the integrity of the financial system,” said Stuart Levey, chief executive officer of Diem.

“We are committed to a payment system that is safe for consumers and businesses, makes payments faster and cheaper, and takes advantage of blockchain technology to bring the benefits of the financial system to more people around the world. We look forward to working with Silvergate to realize this shared vision.” 

Diem’s strategic shift to the United States comes at a time of a rapidly evolving regulatory environment for cryptocurrencies and blockchain technology. 

Some municipalities and states such as Miami and Wisconsin have embraced the recent innovation, whereas regulators such as the newly-appointed SEC Chair Gary Gensler have critiqued the autonomy of the crypto industry. 

With crypto ETFs and related financial products under intense scrutiny by the SEC, it remains to be seen whether Diem’s decision to relocate back to the United States will bear any fruit.

Featured image from ShutterStock

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/facebooks-diem-unveils-its-latest-stablecoin-plans-and-strategic-move-to-the-united-states/?utm_source=rss&utm_medium=rss&utm_campaign=facebooks-diem-unveils-its-latest-stablecoin-plans-and-strategic-move-to-the-united-states

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Blockchain

Cardano, Uniswap, Chainlink Price Analysis: 16 May

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Cardano introduced some target levels at $2.53 and $2.69 via the Fibonacci Extension tool. Uniswap needed to garner bullish strength for a break above $43-$45 resistance. Lastly, a descending triangle breakdown on Chainlink could see a 7.5% retracement towards its 50-SMA

Cardano [ADA]

Source: ADA/USD, TradingView

If buyers were looking to make profits on large-cap alts during the recent turbulent broader market, Cardano was a must inclusion in every portfolio. Weekly gains of 36% were the highest among the top 10 coins by market cap and underlined ADA’s independence from broader market sentiment. Fibonacci Extension tool was used to identify potential target points for the current rally. The 372.2% and $361.8% extension levels stood at  $2.53 and $2.69, respectively. With buying pressure still on the rise according to Awesome Oscillator, ADA made a strong case for an extended rally.

In case of pullbacks, these extension levels can also act as support lines. RSI’s overbought territory indicated the need for stabilization and a dip in volumes could mean some southbound action. Nevertheless, key factors could allow ADA to sustain higher levels moving forward.

Uniswap [UNI]

Source: UNI/USD, TradingView

A descending triangle breakdown showed losses of 8% from the bottom trendline, but buyers stepped in at $35.6-support. In fact, this support has been under the spotlight during recent dips and only reinforced the area as a buffer against extended losses. On the 4-hour timeframe, OBV’s sharp fall was an interesting development which explained why bulls have failed to topple $43-$45 resistance. Considering the dearth of constant buying pressure, Uniswap could trade between $44.4 and $35.6 over the coming days.

A breakout above $44.4 on high volumes would result in a bullish trend but the market was not yet ready for such a swing. Awesome Oscillator’s wavy trajectory suggested that neither side had been fully able to assert dominance.

Chainlink [LINK]

Source: LINK/USD, TradingView

While Chainlink did see losses over the last 24 hours, the bulls held on to $41.2-support – an important development. A descending triangle was prominent on the daily timeframe and a breakdown could see a sell-off between $35.7-39.1. Those hoping to trade on a breakdown can observe the 4-hour timeframe for more sensitive price action.

Awesome Oscillator registered a series of red bars as selling momentum dragged  LINK from a high of $61.9 to a low of $39.7 during the present downtrend. MACD also confirmed a bearish presence in the market. To negate LINK’s pattern, buyers would need to target a rise above $45.6-resistance.


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Source: https://ambcrypto.com/cardano-uniswap-chainlink-price-analysis-16-may

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Here’s how Bitcoin’s intraday volatility complicates leverage trading

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The crypto sector is in a bull market, and frequent evidence comes from anonymous traders who post their five-, six- and seven-figure investment returns as screenshots on Crypto Twitter.

This condition creates a FOMO-like situation where everyone gets greedy. The temptation to boost potential earnings by twenty times or more is often irresistible for most novice traders.

Today, almost every cryptocurrency exchange offers leveraged trading using derivatives. To enter these markets, a trader has to first deposit collateral (margin), which is usually a stablecoin or Bitcoin (BTC). However, unlike spot (regular) trading, the trader cannot withdraw from a futures market position until it has been closed.

These instruments have benefits and can improve a trader’s outcomes. However, those who often rely on incorrect information when trading futures contracts end up with heavy losses rather than profits.

The basics of derivatives

These leveraged futures contracts are synthetic, and it is even possible to short or place a bet on the downside. Leverage is the most appealing aspect of futures contracts, but it is worth noting that these instruments have long been used in stock markets, commodities, indexes, and foreign exchange (FX).

In traditional finance, traders measure daily price change by calculating the average closing price changes. This measure is widely used in every asset class, and it’s called volatility. However, for various reasons, this metric isn’t helpful for cryptocurrencies and can harm leverage traders.

Bitcoin 60-day USD volatility. Source: BuyBitcoinWorldwide

To be brief, the higher the volatility, the more often an asset price presents wild oscillations. Contrary to the expectation, moving up by 7% to 10% every day represents a low volatility indicator. This happens because the deviation from the mean is small, while random fluctuations between a negative 3% to a positive 3% present a much wider range.

Markets with very low volatility are perfect for leverage

Knowing the general range of how an asset oscillates is extremely important when opening leverage positions. Take the British Pound Sterling (GBP), for example, and one will notice that its volatility is usually below 1% as surprise aggressive daily price changes are unusual.

GBP currency 60-day USD volatility. Source: BuyBitcoinWorldwide

FX markets are relatively stable markets when compared with stocks and commodities. Therefore, some regulated brokers offer even 200x leverage, meaning a 0.5% move against the position would cause a forced liquidation.

For a cryptocurrency trader, the Swiss Franc’s (CHF) daily change versus the U.S. dollar would likely be seen as a stablecoin.

Swiss Franc (CHF) USD prices. Source: Investing.com

However, the 3.4% daily Bitcoin volatility hides a more dangerous price fluctuation. While measuring daily closing prices for traditional markets makes sense, cryptocurrencies trade non-stop. This difference potentially creates much wider movements within the same day, although the daily closing often masquerades it.

Bitcoin price low-high-close USD prices. Source: CoinMarketCap

The average change between the Bitcoin intraday high and low of the past 180 days is 6.5%. As shown above, these ‘intraday moves’ surpassed 10% on 25 occasions. Meaning, in reality, BTC price oscillations are much larger than expected for a 3.2% daily volatility asset.

20x leverage seems crazy considering Bitcoin’s daily moves

To put things into perspective, a 5% move in the wrong direction is enough to liquidate any 20x leveraged Bitcoin position. This data is clear evidence that traders should really consider risk and volatility when leverage-trading cryptocurrencies.

Fast profits are nice, but what is more important is being able to survive the usual daily price swings to hold on to those unrealized gains.

Although there’s not a magical number to set the best leverage for every trader, one must account for the effect of volatility when calculating liquidation risks. Those aiming to keep positions open for more than a couple of days, aiming for 15x or lower leverage, seem to be ‘reasonable.’

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Here’s how Bitcoin’s intraday volatility complicates leverage trading

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Source: https://blockchainconsultants.io/heres-how-bitcoins-intraday-volatility-complicates-leverage-trading/?utm_source=rss&utm_medium=rss&utm_campaign=heres-how-bitcoins-intraday-volatility-complicates-leverage-trading

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