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The First Agricultural Commodity Blockchain Transaction Has Taken Place

A routine soybean shipment from the USA to China has been made famous as it is the first commodity deal that has been facilitated by blockchain technology. This is the first of its kind. Pilot runs have been investigated for some time now, but this seemingly insignificant shipment of soybeans marks the first end-to-end real world transaction. The transaction happened on the back of tech, which was developed by the banks themselves. The transactions are normally incredibly paper-heavy, and digitising this transaction shortens this administrative aspect of the trade to around 20 percent of a typical transaction. This recent transaction...

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Does Bitcoin Use Too Much Energy?

Experts have been warning that the Bitcoin network has caused a massive surge in energy consumption; despite the fact that it actually only uses about 0.14 percent of global electricity. So, why are people believing that it is using too much? Well, the truth is that Bitcoin does use a surprising amount of energy, despite that on a global scale it is still a relatively small amount. Figures suggest that it took approximately 250 kilowatt-hours of energy to process a single action in early December of 2017. Other figures suggest that the network actually consumes more electricity than the whole...

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These Are The Predictions For Ethereum

Live since 2015, Ethereum has been a volatile and unpredictable platform of cryptocurrency since its inception. While it's impossible to say one way or another whether any currency or investment is headed for great things, there are positive indications that 2018 may be a good year for Ether. Exact price predictions are difficult to pinpoint, since the price of Ether can fall by as much as 25% in 24 hours, as it did more than once in December of 2017. However, Ether has been growing exponentially in recent months and looks set to continue that trajectory in 2018. In broad...

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You Can Now Send Bitcoin Via Text Message

Samourai, a privacy focused crypto wallet, have recently introduced a new feature which allows you to send Bitcoin payments using standard SMS messages. It opens up a whole host of possibilities, and really moves the Bitcoin network along. Because it uses SMS messages, the app, called PonyDirect allows you to send Bitcoin without an internet connection. This also makes it a viable option in countries where there are restrictions. The idea was touched upon by Pavol Rusnak, the CTO of Satoshilabs back in August 2017, and the Samourai Developer T Dev T said; “PonyDirect was developed in-house as a proof-of-concept...

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Will The US Kill Cryptocurrencies?

Just when the price of Bitcoin is picking back up, it has come under threat from the US Federal Reserve system, because of a lack of transaction transparency. Mr Chiavarone said that the US Federal Reserve is at risk of killing Bitcoin, unless more is done to further develop the blockchain. He said; “The currency itself isn’t a great medium of exchange, it’s not a great store of value. It has a fixed amount so the Fed would have to kill it at some point because they wouldn’t be able to engage in monetary policy…They can’t increase or decrease the...

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