Bitcoin Overtakes Coca-Cola

August 08, 2020

  1. Leading Korean Bank Joins Crypto Custody Business
  2. Bitcoin Equivalent to Bank Of America
  3. Bitcoin Market Cap Overtakes Coca-Cola
  4. Blockchain E-Passports to Save Tourism Industry

Leading Korean Bank Joins Crypto Custody Business

Photo by Kseniya Petukhova on Unsplash

One of Korea’s largest banks, KB Kookmin Bank has entered into a strategic partnership with blockchain venture fund, Hashed and crypto trading platform, Cumberland Korea to establish a technological cooperation on the custody of cryptocurrency. Other major banks of Korea, NH Bank and Bank of Korea have also expressed their intentions to take steps into entering similar digital innovation initiatives. 

Hashed’s CEO, Simon Kim states:

“Combining our insight in the blockchain industry and providing both technical and commercial consultations will inevitably open new doors to consumers as well as to the country in ushering the new era of digital transformation.”

The strategic partnership to enter into the inception of the crypto custody business is a response to regulatory changes in looking into new business models that relies on blockchain technology. 

Source | Cointelegraph

Bitcoin Equivalent to Bank Of America

Photo by Patrick Tomasso on Unsplash

The steady growth of the Bitcoin (BTC) price has led to its valuation being almost equivalent to Bank of America.

Setting at just over $217 Billion in accordance with Cointelegraph’s data, Yahoo Finance has reported Bank of America’s market cap at a little more than $226 Billion. 

Despite dramatic price fluctuation, the BTC has demonstrated substantial growth in the year 2020, over performing different wealth comparisons. Just before Covid-19 brought about a new normalcy back in March this year, the United States Central Bank had pumped a capital of $168 billion into the economy, with BTC’s market cap nearing $145 billion at that time. 

The BTC is expected to reach astronomical growth in time to come. As Co-founder of Morgan Creek Digital, Anthony Pompliano, recently forecasted the BTC price to value at $80 trillion in future. 

Source | Cointelegraph

Bitcoin Market Cap Overtakes Coca-Cola

Photo by Krisztian Matyas on Unsplash

Amid a major bullish trend on cryptocurrency markets, Bitcoin’s (BTC) market capitalization at $205 billion is overtaking major publicly traded companies like Intel and Coca-Cola.

Bitcoin’s market cap saw a substantial increase to cross a $200 billion threshold after a bullish market in late July 2020. This significant growth has seen Bitcoin’s worth to be more than that of major global companies like Intel and Coca-cola. According to data from Macro Trends, shares of Intel and Coca-Cola closed at a market cap of $203 billion and $202 billion respectively on July 31.

Bitcoin seven-day market cap chart. Source: Coin360

The Covid-19 pandemic has seen Coca-Cola suffer a major sell-off earlier this year, while Intel saw a prominent decline in market shares in recent days. Bitcoin, however, has been seeing multiple bullish moves in the year 2020, up more than about 40% in market cap since Jan. 1, 2020. The largest cryptocurrency by market cap has recently touched its new 2020 highs, crossing the $12,000 price mark on Aug. 2. 

Source | Cointelegraph 

Blockchain E-Passports to Save Tourism Industry

Photo by mana5280 on Unsplash

To revive the $9 trillion global tourism industry, ShareRing, an enterprise-focused blockchain company has launched a blockchain based contact tracing solution and has offered over 2 million hotel and activity providers that use one of the company’s services. This initiative also aims to resolve privacy issues with similar tracing apps.

Earlier in March this year, the World Health Organisation (WHO) launched a blockchain based platform MiPasa to facilitate confidential information sharing between individuals, state authorities and health institutions. Further, De Cecco, the world’s third largest pasta producer, is reported to be adopting the Infection Risk Management solution, My Care, built on VeChain to help ensure the safety of employees and operators throughout Italy.

The contact tracing app by ShareRing will allow users to upload important personal documents as well as Covid-19 test results. Should a user test positive to Covid-19, the app will send the necessary information to the government, and notify close contacts of the virus carrier. The app will allow companies to scan the app to reveal Covid-19 test results without compromising personal information by integrating with eVOA Systems, travel insurance companies, and other relevant organisations.

Source | Cointelegraph

You can share this post on

Reletad Post

What Is NFT Real Estate and How Is It Changing the Real Estate Industry?

NFT real estate is virtual property you can purchase on a metaverse platform. 

There are many use cases for NFT real estate but it is most commonly used as a space to socialize, work, and game.

The value of NFT real estate can be affected by its utility, project, and demand. 

Thanks to blockchain technology, the tokenization of real-world assets (such as real estate) has made the industry’s processes more efficient, transparent, and secure.

Arbitrum Project Introduction

From 2020 to now, many public blockchains such BSC, Solana, Polkadot, and Avalanche raced to take over ETH’s users and market. Their advantages on low gas fee and quick transaction time made ETH eager to release effective Layer2 program to expand the capacity. Since Arbitrum was released, its ecosystem grew up rapidly and already owned many mature and popular featured projects on different race tracks.

Polkadot, the King of Cross-chain Explained

What is Polkadot? Polkadot is a heterogeneous blockchain founded by Gavin Wood, former CTO of Ethereum, is an impeccable blockchain project that is perfect in every sense. Its founder, Gavin Wood, is the author of the Ethereum White Paper and the person who knows the defects of Ethereum at heart. Polkadot was founded with the idea to solve Ethereum’s shortcomings and replace it as the “King of the Public Chain”. Read to find out more!

Fil Mooned Right Away After I Sold It. Am I One of the Weak Hands?

“Fil mooned right away after I sold it. I am the weakest hand in the crypto world.” said one of my friend who has been trading cryptocurrency for many years. He is a user during the public sale and bought FIL at the price of $2. After the FIL is unlocked, he sells coins wildly every day. But even so, he still hates the slow process of unlocking, so he directly sold all the publicly purchased Fil at the price of dozens of dollars.

What is EIP-1559? How will it affect Everyday Users? Will it Pump Up ETH Price?

What is EIP-1559? How will it affect Everyday Users? Will it Pump Up ETH Price? The EIP-1559 we will be talking about in this article is an example of Ethereum improvement proposal. This proposal was first put forward in November 2018 by Eric Conner, an ETH developer. It aims to reform the GAS fee bidding system of ETH, so to reduce the cost for users to transfer money on ETH.

DigiFinex Apollo IEO Project HGOLD Token Sale Announcement & Sponsoring Michael Madsen’s Imprint Ceremony in Hollywood

5 rounds of HollyGold Limited Token Sale came to an end smoothly last Friday, Nov 13rd, 2020. Not only was it a successful token sale, its’ results were indicating a positive growth in the project HollyGold. HollyGold has also sponsored Michael Madsen at his celebratory imprint ceremony in Hollywood recently.

%d bloggers like this: