Singapore central bank to spearhead harnessing of blockchain tech for interbank payments

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< div itemscope itemprop = image itemtype = http://schema.org/ImageObject tw = 660 >< meta itemprop = url content = http://data1.ibtimes.sg/cache-img-1200-0/en/full/14093/imgmas.jpg > A view of the Monetary Authority of Singapore‘s head office in Singapore Reuters The Monetary Authority of Singapore(MAS) has actually formed a consortium with The Association of Banks in Singapore(ABS)to develop software application prototypes for decentralised inter-bank payments and settlements using the blockchain technology.According to a joint news release by the two entities, the job is carried out along with 11 other banks and five innovation firms and is the second stage of the central bank’s Job Ubin.To recall, Project Ubin was launched by MAS to explore making use of Distributed Ledger Technology(DLT )for cleaning and settlement of payments and securities. The very first phase of the task was revealed in November 2016 and included a partnership with DLT company R3.ABS Director Ong-Ang Ai Advantage stated the collaboration of banks and other tech gamers are creating a vibrant financial community.”Task Ubin has actually brought the banks together in try out DLT in a collaborative, open and transparent way. We are motivated that this outcome might potentially be leveraged on by the banks to catalyse the development of more ingenious …

Severe Mainstream Bitcoin Adoption is Being Led by Japan

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Upon the legalization of bitcoin by the Japanese federal government previously this year, a few of the largest business in Japan including the largest electronic devices retailer Bic Cam and airline company Peach have actually integrated bitcoin and accepted the digital currency as a payment method.This week, Remixpoint, the biggest energy company in Japan that is included with numerous ventures and energy-related companies, has incorporated bitcoin to address the growing need for the cryptocurrency. Furthermore, Remixpoint clients will be offered with discounts and special deals if they decide to settle their deals using bitcoin.According to Bitcoin.com, Remixpoint has actually also been running a significant cryptocurrency exchange referred to as Bitpoint. Last month, Bitpoint turned into one of the first exchanges to be licensed and certified by the Japanese government and its monetary regulator the Financial Services Company(FSA), along with other leading exchanges such as BitFlyer.Already, bitcoin exchanges like Bitpoint and Bitflyer have actually protected exclusive partnerships with Japan’s largest business in the similarity Bic Electronic camera and Peach to procedure bitcoin payments on behalf of other companies. Most just recently, Bitpoint developed a tactical partnership with Evolable Asia, to process bitcoin payments for over 1,400 hotels across Japan.At the”Energy Innovation …

Ripple Cost Technical Analysis– XRP/USD Rises Previous $0.2400.

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Ripple Rate Technical Analysis– XRP/USD Rises Past $0.2400 Published on 5:08 am October 6, 2017 Author Aayush JindalCategories Altcoins, Analysis, move greater and it might even challenge the$0.2500 level in the near term.Ripple price powered greater against the US Dollar and Bitcoin. XRP/USD might continue to get pace and could even break$0.2500. Ripple Cost Bullish Pattern Throughout the past couple of days, there was a sharp rise in Ripple price above the$0.2100 level against the US Dollar. The other day, I discussed that the price may continue to move greater and the next significant hurdles are $0.2400 and $0.2500. The price extended its gains and was able to move past the $0.2400 deal with. A high was formed at $0.2446 and the cost later on started a downside correction.It is presently checking the 23.6%Fib retracement level of the last wave from the $0.2010 low to $0.2446 high. Furthermore, there is a significant bullish trend line forming with support at$ 0.2340 on the hourly chart of the XRP/USD. As long as the price is above the pattern line support at $0.2340, it may return above $0.2400 and might even trade towards $0.2500. On the other hand, a break and close below …