Market Update 4.13.19 – Chinese Research States Blockchain in Finance Still a Challenge

| Publish date: 04/13/2019
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Chinese Research States Blockchain in Finance Still a Challenge

According to local news agency reports, Wei Kai, China Academy of Information and Communication Technology’s (CAICT) head of Blockchain research Wei Kai stated that the use of Blockchain technology in the financial industry still faced a lot of challenges.

During the ICC (International Chamber of Commerce) Banking Commission’s meeting Wei Kai described the obstacles in the greater adoption of Blockchain technology in the financial sector. He stated that despite the new technology’s potential to transform multiple industries, there were 3 major problems that it had not been able to solve – operability, data privacy and integration with enterprise systems.

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Binance Labs Awards Grants to 3 Startups

Binance Labs, the investment division of major cryptocurrency exchange Binance, has given out grants of $15,000 each to 3 different startups that are developing open-source Blockchain-based technologies. These three startups are Ironbelly, a mobile wallet service provider for the new Blockchain Grin/Mimblewimble, Kitsune Wallet, an on-chain wallet that can be upgraded, and HOPR, a messaging protocol that is privacy focused.

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These three new companies are the first fellows of Binance Labs’ Fellowship Program. According to the director of the division Flora Sun, for innovation to take place, a community of committed developers as well as entrepreneurs is required, who can image and create new products to bring to the market.

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Magic Leap Looking for Blockchain Engineers

According to the recent listings on the employment platform Greenhouse, the VR (virtual reality) startup Magic Leap is looking to employ Blockchain engineers as well as senior Blockchain architect. These roles are for the company’s Lifestream business division.

In a recent interview, Magic Leap’s Chief Executive Officer Rony Abovitz had explained that Lifestream was all the data that a user experienced, the data of the world around a user as well as how it needed to be protected. He stated that protecting data was critical. Now, with the new job posting, the company is looking for experts who can work in this segment.

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Total Market Cap: Apr 13

The valuation of the crypto market has inched up once more in the last one day and is now $172.89 billion. Trading volumes for the market are at $41.38 billion.

Bitcoin Price Analysis: Apr 13

After two days of losses, the price of Bitcoin is once more trending upwards, with a 0.98% gain since yesterday. Its current price is now $5090.92. Capitalization for the digital currency is at $89.82 billion and volumes of trade are at $12.26 billion.

Ethereum Price Analysis: Apr 13

ETH is up 0.75% to a price of $164.87. Trading volumes are at $5.50 billion and capitalization is $17.41 billion.

State of the Top 10 Cryptocurrencies: Apr 13

BCH has jumped up the ladder with a 1.96% gain in its token price to once more become the fourth most valuable cryptocurrency in the word. However, the biggest gains in the last 24 hours have been for BNB, which has gained 4.88% in its token price in that time period.

  • Bitcoin’s trading at $5090.92, gaining 0.98%. At the time of writing, its valuation is $89.82 billion.
  • Ethereum’s trading at $164.87, gaining 0.75%. At the time of writing, its valuation is $17.41 billion.
  • Ripple’s trading at $0.328866, gaining 1.10%. At the time of writing, its valuation is $13.74 billion.
  • Bitcoin Cash’s trading at $276.70, gaining 1.96%. At the time of writing, its valuation is $4.90 billion.
  • EOS’s trading at $5.37, gaining 0.89%. At the time of writing, its valuation is $4.866 billion.
  • Litecoin’s trading at $79.33, gaining 1.47%. At the time of writing, its valuation is $4.864 billion.
  • Binance Coin’s trading at $18.42, gaining 4.88%. At the time of writing, its valuation is $2.60 billion.
  • Tether’s trading at $1.01, gaining 0.02%. At the time of writing, its valuation is $2.42 billion.
  • Stellar’s trading at $0.115423, gaining 1.13%. At the time of writing, its valuation is $2.22 billion.
  • Cardano’s trading at $0.084726, gaining 2.57%. At the time of writing, its valuation is $2.19 billion.
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