Market Update 9.25.18 – SB to Use Mobile Payments Token For Cashless Society
Market News
SB to Use Mobile Payments Token For Cashless Society
Financial giant SBI Group has announced that it is testing a crypto token to be used for retail payments over mobile devices. The group’s investment arm called SBI Holdings, which was responsible for Japan’s first bank-backed crypto exchange in June, revealed that it is about to kick off a proof-of-concept trial of its “S coin” token that is based on distributed ledger technology (DLT).
Describing S coin as a “settlement coin,” SBI Holdings’s blockchain lead Mamoru Fujimoto and Yoshitaka Kitao, president of the company, jointly said the token will allow charging and settlement over users’ smartphones. In the trial, they said thatemployees of the group will be using the firm’s S Coin Platform to carry out cash-free purchases at cafes and restaurants around the firm’s headquarters in Tokyo. To allow staff to access the token, SBI Holdings installed a machine from Glory, which makes and operates automated cash devices, linking to the S-Coin Platform.
Read the full report here.
Paymium Getting Sued for Launching a Token Sale
Luxembourg-based cryptocurrency wallet provider Blockchain has filed a lawsuit against a startup with a similar name. Blockchain – formerly known as Blockchain.info – is suing Blockchain.io just days in advance of the latter’s initial coin offering (ICO) over concerns that investors may believe they are buying tokens distributed by the wallet distributor, as detailed in the public court filing.
Specifically, the suit names Paymium SAS, the company behind Blockchain.io, and founder Pierre Noizat, as defendants, claiming that Paymium has participated in “bad acts,” including the operation of the now-defunct crypto wallet Instawallet. A representative said that the move came as a result of investors confusing the two firms.
Read the full report here.
Walmart to Use Blockchain in Tracking Leafy Greens
Walmart plans to sell leafy greens that are tracked using blockchain technology within the next year. In a press release, the world’s largest retailer (both by revenue and by employee count) announced that it told its suppliers for leafy green produce to integrate a blockchain-based tracking system built in collaboration with IBM by September 2019.
According to the letter sent to suppliers, any company working with Walmart must work with the IBM Food Trust network to create end-to-end traceability in two phases. The blockchain platform will make it easier for Walmart to source any food items quickly, with the release noting that tracing such items at present is “an almost insurmountable challenge.”
Read the full report here.
Total Market Cap: Sept. 25
The volume of trade in the crypto market sat at $14.4 billion. The market’s capitalization, on the other hand, reached $207.65 billion.
Bitcoin Price Analysis: Sept. 25
In the past 24 hours, Bitcoin fell 3.00% to trade at $6,431.10. The leading cryptocurrency’s trade volume trickled to $4.4 billion, while its market slid to $111.18 billion.
Ethereum Price Analysis: Sept. 25
Ethereum’s price jumped 9.19% to trade at $212.20. As for the altcoin’s trading volume, it reached $1.86 billion; whereas its market capitalization hit $21.68 billion.
State of the Top 10 Cryptocurrencies: Sept. 25
In the past 24 hours, all prices were down. Meanwhile, Monero dethroned Dash at the 10th spot.
- Bitcoin’s market price fell 3.00% to $6,431.10, and its value in the market is $111.18 billion.
- Ethereum’s market price fell 9.19% to $212.20, and its value in the market is $21.68 billion.
- XRP’s market price fell 15.47% to $0.452196, and its value in the market is $18.03 billion.
- Bitcoin Cash’s market price fell 5.65% to $441.23, and its value in the market is $7.66 billion.
- EOS’ market price fell 8.99% to $5.19, and its value in the market is $4.71 billion.
- Stellar’s market price fell 8.19% to $0.238550, and its value in the market is $4.48 billion.
- Litecoin’s market price fell 4.21% to $55.62, and its value in the market is $3.25 billion.
- Tether market price fell 0.11% to $0.999987, and its value in the market is $2.81 billion.
- Cardano market price fell 8.97% to $0.076925, and its value in the market is $1.9 billion.
- Monero dethroned Dash at the 10th spot, with its market price falling 4.40% to $112.62, and its value in the market is $1.85 billion.