China banned bitcoin exchanges at the end of last year. But the trade has simply gone underground, says the CEO of China’s oldest exchange BTCC. CEO believes rules will eventually be relaxed, although not anytime soon.
Adopting blockchain technology can lead to one-off savings of between US$15 billion to US$30 billion by global financial markets, according to Bain & Co. Fintech provider Broadridge Financial Solutions is developing blockchain-based applications that are expected to benefit its clients in the Asia-Pacific capital markets, including Hong Kong’s by helping them save costs, improve efficiency and reduce risks.
Specialist investment bank Exotix argues that the biggest potential for blockchain technology lies in frontier markets. Analyst Paul Domjan says blockchain could be used for things like property registration, contract law, and exchange in countries with volatile local currencies. Goldman Sachs made a similar point about the potential for bitcoin in countries with unstable local currencies.
Otcrit is a platform that creates a unique space for all the people interested in crypto sphere. The list of features of the developing platform is quite impressive: secure trading exchange, different kinds of reports and analytics. The preliminary list of analyses includes 10 different types: from technical ones to competition analyses. The platform will also inspire people with good knowledge of the market to delve into research process – as they can turn their analysis into profit.
Katy Perry is on the bitcoin bandwagon. The singer posted a photo to instagram sporting cryptocurrency-themed nail polish.
Tom Farley, president of the New York Stock Exchange, doesn’t see a bitcoin ETF in the near term. A number of companies have pulled requests for a bitcoin-linked ETF amid regulator worries.
Starbucks reported earnings that beat Wall Street’s per-share expectations on Friday, but missed on revenue targets. On a conference call following earnings, former CEO Howard Schultz said he was optimistic about blockchain and cryptocurrencies — but not bitcoin.
Bitcoin’s dramatic rise made it a hot topic in Davos this year, with a prominent market bubble researcher and a Swedish central banker expressing doubts about the cryptocurrency’s prospects.
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