Russia’s Moscow to Make Its Own Blockchain System To Achieve More Transparency in City Admin Services

Russia is not very well-known for its transparency, so the city of Moscow is trying to make a move in the opposite direction. The Information Technologies Department of the city has decided to hire a company to create blockchain-based systems for the city. According to the city, the cost of the new system will be around $860,000 USD.

This new platform will have several types of services, such as the issuance of documents of different types. Documents related to property and farming will be issued this way. The blockchain system will use a proof of authority consensus and will hold at least 1.5 people online at the same time.

According to the government of Moscow, creating the platform won’t take too long. The project is expected to be completed in 60 days. After that, Moscow is hoping to get a boost in the transparency of electronic services.

Reports indicate that the platform will possibly be integrated into other blockchains as well and become interoperable with them. Systems like one that was created to let citizens vote could be integrated, for example.

This system, called Active Citizen, is used to vote on several city topics such as street decorations and city events. Active Citizen was created back in 2017 and it was used to vote several times so far.

In the near future, the system is also set to be used in the city’s legislative elections. 6% of the voters in the city will be able to use the system to vote on the candidates that they want.

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Author: Bitcoin Exchange Guide News Team

Bitfinex’s ‘Sister Exchange’, Ethfinex, Rebrands Independently as DeversiFi

The crypto exchange space is set for another major rebrand following the move by Ethfinex Trustless that evolved to DeversiFi as of August 13, 2019. This will see the former sister to Bitfinex position itself as the sole high-speed decentralized coin exchange with high liquidity for crypto traders. Furthermore, traders using the new DeversiFi platform can be able to carry out trades whilst their digital currencies remain held in private wallets.

Ethfinex began its operations in Q3 of 2018 when it pioneered as a P2P platform for ERC20 based tokens. The decision to rebrand its outlook is pivotal in making the exchange competitive as it shifts to focus on settling for institutions as opposed to its previous retail clientele. Before its rebrand, Ethfinex had acquired a customer base of close to 10,000 with its footprint mainly in Europe.

According to Will Harbone, DeversiFi CEO, the change in strategy is not only a rebrand but a move to scale opportunities for growth. The CEO while speaking to The Block mentioned that among the selling points were lower fees and products regulated as per the current laws. However, the rebrand seemed to have coincided with the pressure on Bitfinex’s $850 million alleged fraud currently under investigation by New York’s AG office.

DeversiFi is set to set itself apart and compete with large exchanges by reducing execution time, narrower spreads and liquidity within its ecosystem. The Ethfinex user interface will also be altered to reflect its new brand in addition to the software features.

Nectar (NEC), the ERC20 token created for Ethfinex’s ecosystem is also undergoing an overhaul to make it well compatible with DiversiFi’s design. This is in line with the growth in needs, both regulatory and technological since it was launched back in 2017.

Harbone noted that next on the roadmap for DeversiFi would be acquiring approval within the European zone while mobilizing for development funds. The biggest challenge so far appears to be establishing DeversiFi as a sole brand given it heavily relied on Bitfinex during its early growth stages.

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Author: Lujan Odera

Stellar Price Prediction Today: Daily (XLM) Value Forecast – July 16

  • Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400.
  • The price of Stellar was on a downward correction as it broke the lower price range and approaches the low at $0.0 7820.

XLM/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.1300, $0.1400¸ $0.1500
  • Support levels: $0.0900, $0.0800, $0.0700

Yesterday, July 15, the price of Stellar was on a downward correction as it broke the lower price range to a low at $0.0 7820. This was the previous low of February 5. As the market approaches the February low, traders should lookout for buy setups to initiate long trades in anticipation of a bullish trend.The market may hold on February 5, as the crypto’s price will respect the historical price level. Meanwhile, the market is still in a range-bound move between the levels of $0.1200 and $0.1400.

The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Stellar. The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the XLM market has reached the oversold region of the daily stochastic but below the 20% range. This indicates that price is in a bearish momentum and a sell signal.

XLM/USD Short-term Trend: Bearish

On the 1-hour chart, the price of Stellar is in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. The XLM market has fallen to the $0.007800 price level. Meanwhile, the XLM price is in the oversold region of the daily stochastic but above the 20% range. This implies that price is in a bullish momentum and a buy signal.
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The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Basic Attention Token Price Prediction Today: Daily (BAT) Value Forecast – July 15

Basic-Attention-Token-BAT-Is-Listed-on-Bitpanda
  • The BAT /USD pair is still in a range bound move between the levels of $0.30 and $0.40.
  • Traders should look out for a buy setup in order to initiate long trades.

BAT /USD Medium-term Trend: Ranging

  • Resistance Levels: $0.36, $0.38, $0.40
  • Support Levels: $0.32, $0.30, $0.28

The BAT /USD pair is still in a range bound move between the levels of $0.30 and $0.40. Traders are look out for buy setups in order to initiate long trades at the lower price range. All the false breakouts have retraced back to the range bound zone. The moving averages were sloping horizontally in between price range.

The crypto’s price is also characterized by small body candlesticks like the Doji and the Spinning tops. The candlesticks described the indecision between the buyers and the sellers at the current market price. The small body candlestick contributes to choppy price action. The small body candlestick contributes to poor price movement.

Their continued presence will determine the duration of the range bound movement. Meanwhile, the BAT price is in the oversold region of the daily stochastic but below the 40% range. This indicates the price is in a bearish momentum and a sell signal.

BAT/USD Short-term Trend: Bullish

On the 1-hour chart, the price of BAT is in a bullish trend zone. The 12-day EMA and the 26-day EMA are sloping horizontally. In the daily chart, the crypto’s price is consolidating at the lower price range for a possible breakout.  Meanwhile, the BAT price is in the overbought region of the daily stochastic but above 60% range. This indicates that price is a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Verge Price Prediction Today: Daily (XVG) Value Forecast – July 12

  • The market is still in a range-bound move between the levels of $0.00800 and $0.0100.
  • The crypto’s price was below the EMAs which indicate that price is likely to fall.

XVG/USD Medium-term Trend: Ranging

  • Resistance Levels: $0.00820, $0.00840, $0.00860
  • Support levels: $0.00680, $0.00660, $0.00640

Yesterday, July 11, the price of the Verge was on a downward correction to a low at $0.006500. This was the previous low of May 9. At this low, the bulls made an upward move to reach the $0.01200 overhead resistance level. On July 11, the bears might have exhausted their bearish pressure as the bulls make an upward move to break above the EMAs.

Traders should look out for  buy setups in order to initiate long trades in anticipation of a bullish trend. Meanwhile, the market is still in a range-bound move between the levels of $0.00800 and $0.0100. The 12-day EMA and the 26-day EMA are trending horizontally above the price of the Verge. The crypto’s price was below the EMAs which indicate that price is likely to fall. Meanwhile, the price of the verge has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

XVG/USD Short-term Trend: Bearish

On the 1-hour chart, the XVG price is in a bearish trend. The 12-day EMA and the 26-day EMA are sloping southward. The crypto’s price is fluctuating below the 12-day EMA and the 26-day EMA indicating that price may continue its fall.

The crypto’s price fell to its low at $0.0064 00. Meanwhile, the price of the verge has reached the overbought region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Blockchains.com Founder to Fulfill His “Decentralized Dreams” with Las Vegas Community Bank Purchase

The founder of Blockchains.com, Jeffrey Berns, has recently decided to make a move in order to fulfill his “decentralized dreams”. He bought a small community bank based in Las Vegas called the Kirkwood Bank of Nevada.

He explained his decision by affirming that his current ambitions are not really compatible with how the current financial system works and that he constantly fears that the banking system would “cut off” his supply of capital.

Now, in order to create his own blockchain-focused smart city and an e-sports arena in the deserts of Nevada, he decided to buy this bank and follow his dreams.

Buying the bank was, to him, a “small but critical step” that cost him $28 million USD. Now, he wants to move forward with his project and to turn this bank into a major bank that will be focused on the blockchain community. According to him, the idea is the creation of an ecosystem in which legitimate businesses can empower people in order to create a better world.

He affirmed that most banks are afraid of the crypto world because they know that they will not be needed anymore. How to solve this problem? By buying your own bank, obviously. However, he also said that he wants to decentralize the bank in the future and to let the clients have real ownership of the institution.

One of the uses of the recently acquired bank will be to start some proof of concept and test out new ideas such as decentralized loans and micropayments using the blockchain. Berns believes that most banks would get in the way of his experiments if he did not acquire his own.

Finally, the last plan that Berns had concerning his decentralization dreams was to create a 3D printing company that would be used to create some of his blockchain city. By using hemp, an undervalued material, he would save money and it could also be more eco-friendly.

Buying The Bank

Berns started the negotiation with the banks in February 2018 and it took him a year to find the perfect partner for this venture. Before being acquired by Berns, the small community bank had never really changed owners since its creation in 2008.

Information from the FDIC states that the bank had a total of $86.6 million USD in assets and a 9.14% return on equity this year.

According to the current president of the bank, John Dru, nothing will change immediately, except for a new branch that will open in Northern Nevada. Also, the bank will change its name soon, but the new name was not revealed up until the time of this report.

The board and all the management are set to continue, too, but it is expected that more changes are to come in the next years if the bank is to focus more on the blockchain technology.

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Author: Gabriel Machado

NEM Releases New Catapult-Based Development Studio Before Its Major Blockchain Upgrade

NEM-Launches-New-Development-Studio-Before-Its-Major-Blockchain-Upgrade
  • NEM launches new development studio to support its move towards a new protocol update
  • The development studio has also requested $8 million from NEM reserves to back its operations
  • NEM is currently launching a development studio that aims at supporting its move towards a new protocol update later in 2019. This is according to a recent press release revealed by the company in an email to CoinDesk.

NEM Launches New Development Studio

The NEM blockchain project announced it is working on a development studio to support its transition to a new protocol this year. The press release explains that the new NEM Studios is being created by NEM Holdings, which is the non-profit holding of NEM Ventures. Meanwhile, the NEM Foundation will help with strategy and backend development for NEM’s Catapult upgrade.

The new improvement aims at providing enterprises with a “high speed” scalable and also a configurable solution. NEM Studios’ activities are funded by NEM Core. The company is also now seeking to hire a new CTO and a development team to work on the Catapult Core protocol and API layer. The Chair and trustee of NEM Holdings, David Shaw, is going to be leading NEM Studios as the director.

Mr. Shaw commented about the project:

“We are thrilled to be creating a dedicated team to bring Catapult to life this year and support its development into the future. We will be looking to recruit the best in the business, with deep technology experience, and look forward to creating a more effective and scalable ecosystem for our community.”

Catapult is expected to become the core NEM code that supports private and public blockchains. The press release informs that it will also include smart contract plug-ins that allow for a range of capabilities related to digital asset creation and more.

The project has also requested $8 million of NEM Reserves that will be released to the market in different periods of time in order to support the operations of the project.

Currently, NEM is the 20th largest virtual currency in the market. It has a market capitalization of $787 million and a price of $0.08749 per coin. It is worth mentioning that the digital currency was affected by a hack on the Coincheck exchange back in 2018 that resulted in the loss of $500 million worth of NEM tokens.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

Komodo Price Prediction Today: Daily (KMD) Value Forecast – June 19

Komodo Blockchain Self-Hacks Its Agama Wallet to Protect 8 Million KMD and 96 BTC from Attackers
  • The KMD market reached a high of $1.700 and commenced a range bound move below the price level.
  • From the Fibonacci retracement tool, the crypto’s price is in the 0.236 and 0.382 Fib. retracement levels.

KMD/USD Medium-term Trend: Bullish

  • Resistance Levels: $1.70, $1.80 ¸ $1.90
  • Support levels: $1.50, $1.40, $1.30

Yesterday, June 18, the price of KMD was in a bullish trend. The KMD market reached a high of $1.700 and commenced a range bound move below the price level. The crypto’s price is retracing from the recent high. On the upside, if the price is sustained above the EMAs, the crypto will continue its upward movement.

From the Fibonacci retracement tool, the crypto’s price is in the 0.236 and 0.382 Fib. retracement levels. These are the continuation zones of the Fibonacci tool. The price  is above the EMAs, which indicates the crypto will appreciate in value. Meanwhile, the price of is in the overbought region of the daily stochastic but below the 60% range. This indicates that price is a bearish momentum and a sell signal.

KMD/USD Short-term Trend: Ranging

On the 1-hour chart, the KMD price is in a sideways trend. The crypto’s price is fluctuating between the levels of $1.50 and $1.60 in a tight range. The 12-day EMA and the 26-day EMA are sloping horizontally indicating that price is in a sideways trend. However, the bearish pressure continues as the price fell into the range bound zone.The daily stochastic is in the oversold region but above the 40% range. This implies that price is in a bullish momentum and a buy signal.

Please add a valid coin_id. You can get it from coin page’s url (slug or short name).

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez Mustapha

Cardano Price Prediction Today: Daily (ADA) Value Forecast – June 12

Cardano Rust Project Boasts New Features Towards ADA Decentralization
  • The ADA market was in a range bound move because of the $0.095 overhead resistance.
  • From the Fibonacci retracement tool, the crypto’s price is in the 0.236 Fib. retracement level.

  • Resistance Levels: $0.0960, $0.0980  $0.1000
  • Support levels: $0.0920, $0.0900, $0.0880

Yesterday, June 11, the price of ADA was trading in a sideways trend. The ADA market was in a range bound move because of the $0.095 overhead resistance.  A trend line is drawn to determine the duration of the bullish trend. On the upside, a bullish trend is said to be ongoing if the trend line is unbroken.

On the other hand, a bullish trend is said to be terminated if the trend line is broken and another candlestick is closed in the opposite of it. Meanwhile, the price of Cardano is in the overbought region of the daily stochastic but above the 80% range. This indicates that price is a bullish momentum and a buy signal.

ADA/USD Short-term Trend: Bearish

On the 1-hour chart, the ADA price is in a bullish trend. The price of ADA is making a series of higher highs and higher lows. The 12-day EMA and the 26-day EMA are pointing northward indicating that price is in a bullish trend. From the Fibonacci retracement tool, the crypto’s price is in the 0.236 Fib. retracement level.

The price is in the continuation zone of the Fibonacci tool. The price of ADA is above the EMAs, which indicates the crypto will appreciate in value. The daily stochastic is in the overbought region but above the 60% range. This implies that price is in a bullish momentum and a buy signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M

Skycoin Price Prediction Today: Daily (SKY) Value Forecast – June 11

Skycoin Obelisk Protocol
  • The SKY market has ended the downward correction as the Skycoin commenced a range bound move at the support of the $1.600 price level.
  • From the chart, if the bulls break above the EMAs, the crypto’s price will rise to retest the $2.30 overhead resistance.

SKY/USD Medium-term Trend: Bearish

  • Resistance Levels: $1.8, $2.0 ¸ $2.2
  • Support levels: $1.4, $1.2, $1.2

Yesterday, June 10, the price of Skycoin was in a range bound move. The SKY market has ended the downward correction as the Skycoin commenceda  range bound move at the support of the $1.600 price level. In retrospect, the SKY market reached the $2.30 overhead resistance on May 31. On June 1, the bulls were resisted and the downward correction continues until price found support at the $1.600 support level, The crypto’s price is below the 12-day EMA and the 26-day EMA which indicates that price is likely to fall.

From the chart, if the bulls break above the EMAs, the crypto’s price will rise to retest the $2.30 overhead resistance. On the hand, if the bulls fail to break above the EMAs, the crypto will continue its range bound move. Meanwhile, the SKY price has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is in a bearish momentum and a sell signal.

SKY/USD Short-term Trend: Bearish

On the 1-hour chart, the SKY price was in a bearish trend. The 12-day EMA and the 26-day EMA are trending southward. On May 31, the bulls were resisted and the market was in downward correction to the low at $1.600. Meanwhile, the SKY price has reached the oversold region of the daily stochastic but below 20% range. This indicates that price is a bearish momentum and a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Azeez M