Market Update 1.16.19 – IBM Blockchain to be Used to Combat Child Labor
Market News
IBM Blockchain to be Used to Combat Child Labor
IBM has announced that it is piloting two separate projects, one with Ford Motor Co. and the other with LG Corp., to track supply chains in the metals industry using Blockchain technology. The aim of these two projects is to ensure that the metals have been mined ethically and without the use of child labor.
Both projects are focused on tracking the movement of cobalt. The first one will track the movement of the metal from the Democratic Republic of Congo to a Ford factory in US, and the second project will monitor the movement of cobalt from a Mexican mine to locations owned by LG Chem, Huayou Cobalt and RCS Global.
Find out more here.
Korean District to use Blockchain Tech in Administration
The South Korean district of Yeongdeungpo-gu is looking at improving transparency in administration by using Blockchain technology on its evaluation system.
According to local news agencies, this new system will stop false entries in the many bidding processes. Companies that bit for public service projects will now be tracked more transparently, which means that the entire evaluation process for projects in the district would be fairly and honestly conducted. This new technology will first be used in the proposal evaluation process in 2019, and then will be expanded to cover the entire department and other districts.
Read more about the details of this story here.
New Zealand Police Investigating Cryptopia Hack
The New Zealand police have confirmed their investigation into what looks like a hack attack worth at least $3.6 million of Cryptopia, a local crypto exchange.
The exchange’s website and platform suddenly shut down on January 14 and then later announced that it had discovered signs of malicious activity on their site. The company’s officials posted on Twitter that Cryptopia had been attacked and had suffered significant losses. However, the company also stated that it would not comment any further on the situation as it was now a police matter.
The police confirmed that the investigation was in its early stages and that they were working with Cryptopia to outline what exactly happened and how did it happen.
Find out more about this story here.
Total Market Cap: Jan 16
The valuation of the crypto market slipped in the last one day to $122.05 billion and trading volumes are currently at $16.84 billion.
Bitcoin Price Analysis: Jan 16
Bitcoin has slipped by 0.92% and is currently trading at a price of $3658.61 per token. The capitalization of the market is now $63.96 billion and volumes of trade are at $5.53 billion.
Ethereum Price Analysis: Jan 16
The third most valuable crypto has fallen by 3.49% to trade at a token price of $124.05 and has a market cap of $12.95 billion. Ethereum’s trading volumes are right now at $2.79 billion.
State of the Top 10 Cryptocurrencies: Jan 16
Market volatility continues with all but one cryptos in the top ten list slipping. Bitcoin SV is marginally up in today’s trading by 0.79%. Of the cryptos that have suffered losses, the top three are Ethereum, down 3.49%, Tron, which has lost 2.29% and Litecoin, which has slipped by 1.87%.
- Bitcoin’s price is $3658.61, slipping 0.92%. The crypto’s market cap is currently $63.96 billion.
- Ripple’s price is $0.329824, slipping 0.66%. The crypto’s market cap is currently $13.53 billion.
- Ethereum’s price is $124.05, slipping 3.49%. The crypto’s market cap is currently $12.95 billion.
- Bitcoin Cash’s price is $129.96, slipping 1.66%. The crypto’s market cap is currently $2.28 billion.
- EOS’s price is $2.44, slipping 0.19%. The crypto’s market cap is currently $2.20 billion.
- Stellar’s price is $0.107246, slipping 1.19%. The crypto’s market cap is currently $2.05 billion.
- Tether’s price is $1.02, slipping 0.25%. The crypto’s market cap is currently $2.02 billion.
- Litecoin’s price is $31.71, slipping 1.87%. The crypto’s market cap is currently $1.90 billion.
- TRON’s price is $0.024684, slipping 2.29%. The crypto’s market cap is currently $1.64 billion.
- Bitcoin SV’s price is $79.21, going up 0.79%. The crypto’s market cap is currently $1.39 billion.