Want to Make Money as a Programmer? Learn Blockchain Development

Despite the year-long bear market that has seen the prices of major cryptocurrencies drop 70 to 80 percent, the demand for blockchain developers is still at an all-time high. According to Mehul Patel, the CEO of San Francisco tech talent recruitment firm Hired, the demand for the blockchain has increased significantly in the past several months. The supply of software engineers is already low, and individuals that are well versed in the cryptocurrency sector are even more scarce. “There’s a ton of demand for blockchain. Software engineers are in very…

Coinbase Staff Protest as Company Cuts ‘at Least 15’ Jobs, Say Sources

U.S. cryptocurrency exchange and wallet provider Coinbase has cut “at least” fifteen staff after hiring 250 this year, Yahoo Finance quotes unidentified sources as saying Friday, Oct. 26. In a curious U-turn following a year of pledges to bolster the number of workers dealing with exploding customer demand, the company confirmed the lay-offs in a statement about its future hiring practices. “We’ve learned that certain teams who are co-located are more efficient, effective, and happier in their roles,” Yahoo quotes the statement as reading: “So moving forward, some teams –…

Alibaba Cloud’s Blockchain as a Service Now Available Outside China

The cloud computing division of China’s largest online retailer Alibaba has announced the expansion of its Blockchain as a Service offering beyond its domestic market. In a statement, Alibaba Cloud disclosed that the blockchain service will now be available in the United States as well as countries in Europe and South East Asia. “Our customers in China have already experienced the benefits from our BaaS platform and we are excited to extend this service to other enterprise customers all over the world,” wrote Alibaba Cloud in a press release. Alibaba…

Germany’s Central Bank and Deutsche Börse Complete Blockchain Settlement Trial

Germany central bank Deutsche Bundesbank, and Deutsche Börse have announced the successful completion of a performance test for two prototype blockchain-based securities settlement systems which they developed jointly. In an announcement posted earlier today, it was revealed that the prototype systems support settlement of regular payments, interest payments, securities transactions and repayment when bonds achieve maturity. The announcement further revealed that the systems were developed on Hyperledger Fabric version 1.0 and the Digital Asset platform. “Demanding Performance Tests” In a statement, the institutions stated that the prototypes were “subjected to…

We Should Not ‘Scurry to Keep Pace’ With Fintech, Says CFTC Commissioner

A new commissioner at U.S. regulator the Commodity Futures Trading Commission (CFTC) repeated called for handling fintech – including blockchain and cryptocurrency – with an “open mind” in a speech Thursday, Oct. 25. Speaking at the 2018 International Swaps and Derivatives Association (ISDA) Annual Japan Conference in Tokyo, Rostin Behnam, who has now held the post for a year, revealed he had spent much of that time focusing on issues related to disruptive fintech. “I am surprised by the amount of time I spent examining issues related to bitcoin, crypto…

Bitcoin is Still in the Middle of a Bear Market

An inverse monetary velocity pattern indicates that bitcoin bulls are wrong about the market’s next bull run. Willi Woo, a prominent cryptocurrency market analyst, pitted the digital currency network value (or market cap) against the daily US Dollar volume transmitted through the blockchain. A proportion between the two equated into Bitcoin Network-to-Value (Bitcoin NV) Ratio, similar to P/E ratio used in equity markets.  A high Bitcoin BV indicates that the net value is exceeding the sum that is getting transmitted to Bitcoin’s payment network. It alternatively means that investors get…

World’s Largest Crypto Exchange OKEx to Delist 50+ Trading Pairs Due to ‘Weak’ Performance

Major Hong Kong-based cryptocurrency exchange OKEx will delist over 50 trading pairs with weak performance, according to an announcement published Oct. 25. As per the announcement, at 6:00 am Oct. 31, 2018 CET, the exchange will halt the trading of a swathe of pairs that they cite as having weak liquidity and trading volume. The exchange warned users that they should cancel their orders of the affected pairs from the platform. OKEx also made a point of noting that it will delist only the indicated trading pairs, but not the…

Chinese Arbitrator Reaffirms That Bitcoin Can Be Held, Privately Transferred as Property

An arbitration body in China has ruled that cryptocurrencies such as Bitcoin (BTC) are legally protected as property, in a case published Oct. 25 via the arbitrator’s WeChat account. The Shenzhen Court of International Arbitration ruled in favor of an unnamed plaintiff in an equity transfer dispute, in which the defendant failed to return holdings of Bitcoin, Bitcoin Cash (BCH) and Bitcoin Diamond (BCD) as had been agreed upon in a contractual agreement. According to the case outline, the contract had authorized the defendant to trade and manage the plaintiff’s…

Mastercard Patent Claims Cryptocurrency Can Benefit From Fractional Reserve Banking

U.S. multinational financial services corporation Mastercard wants to apply principles of fractional reserve banking to cryptocurrency, a new patent application published Thursday, Oct. 25 reveals. According to the document, published by the U.S. Patent & Trademark Office (USPTO), the payment processor has plans to allow merchants to interact with what it calls “blockchain currencies” via a new method of simultaneous crypto and fiat storage. Specifically, reference is made to “methods for managing fractional reserves of blockchain currency.” Mastercard has offered a mixed public stance on cryptocurrency in recent years, this…

Bitcoin’s Low Volatility Signals Bottoming as ‘Speculation Leaves,’ Bloomberg Analyst Says

Bloomberg’s analysts have joined the ranks of experts who consider that Bitcoin (BTC)’s low volatility levels recently signal the coin is finding a bottom, according to an analysis published Oct. 24. Data analyzed by Bloomberg reveals that in October, BTC had only one day of price swings of (+/-) 5 percent or more; as compared with nine days in January and February, seven in March, and five in July. Days with Bitcoin price moves of (+/-) 5 percent or above. Source: Bloomberg Bloomberg Intelligence analyst Mike McGlone is quoted as…