General Motors Files Patent for a Blockchain-Based Navigation Map

General Motors patent uses blockchain to improve navigation maps, potentially for semi-autonomous driving systems. Major car manufacturer, General Motors, or GM, has filed a patent application for a continuously updating navigation map system. The system would use blockchain to integrate data from vehicle sensors and build a reliable map for autonomous vehicles. According to the filing, which was submitted on Oct. 1, 2018 and published on April 2, 2020, existing maps are “difficult to keep dynamic without incurring large costs.”One potential reason for this is that most maps are maintained…

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Coinbase-Backed Crypto Rating Council Lists IOTA, BAT, and USDC

The Crypto Rating Council brings more regulatory clarity to crypto by analyzing whether certain coins constitute securities. The question of whether certain cryptocurrencies constitute securities is becoming increasingly relevant within the blockchain industry. As such, some core players in the space are upping their efforts to bring more understanding to the issue. The Crypto Rating Council, or CRC, is a group of major United States’ crypto firms that advocates and promotes regulatory clarity in crypto. Recently, the CRC evaluated a number of new cryptocurrencies to determine whether they should show…

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Coronavirus & Bitcoin Price: Is China Losing Its BTC Mining Monopoly?

Bitcoin has seen strong gains since the coronavirus triggered sell-off occurred in mid-March but the drop may bring unexpected changes to the mining industry. This week the price of Bitcoin (BTC) surged more than 15%, reaching a high at $7,200 before pulling back into the $6,800 range. Despite the recovery, Bitcoin still has a way to go in order to reach the $8,000 level seen before the coronavirus-triggered selloff on March 12. Cryptocurrency market performance. Source: Coin360 The drop had several consequences on the Bitcoin network. Having reached the $3,800…

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Chinese Regulator Accuses Crypto Exchanges of Fraudulent Volumes

A Chinese financial regulator has warned domestic investors that off-shore cryptocurrency exchanges engage in manipulative practices. The National Internet Finance Association of China (NIFA) warned investors that cryptocurrency exchanges located outside of the country are engaged in manipulative practices on April 2. The People’s Bank of China (PBoC)-affiliated regulator cautioned investors that many off-shore exchanges wash trade to fake trade volume and engage in underhanded tactics to liquidate leverage traders. NIFA cites an internal analysis of cryptocurrency markets that found more than 40 crypto assets produced trade volumes exceeding 100%…

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BRI Remittance Brings Digital Identity to Banking With Blockchain Partnership

Blockchain-based digital identity is becoming mainstream with banks, financial organizations rise to the adoption challenge. Digital identity solutions are on the rise as consumers seek security and accessibility in a digitized world. A new report from 360iResearch shows that the global digital identity market is expected to have reached about $37 Million by the end of 2025. As COVID-19 continues to wreak havoc, this number could grow even larger.  Unsurprisingly, the trillion-dollar banking industry has already expressed interest in digital identity solutions. For example, Everest, a blockchain-based digital payments provider,…

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Mike Novogratz May ‘Hang His Spurs’ if Bitcoin Doesn’t Hit $20K in 2020

Mike Novogratz, CEO of crypto merchant bank Galaxy Digital, admitted that he might give up on Bitcoin if its price does not hit new highs in 2020. As cryptocurrency markets have been edging up over the past two weeks amid multiple sell-offs on the mainstream market, the crypto community has become even more bullish on the price of the major cryptocurrency, Bitcoin (BTC). Mike Novogratz, CEO of crypto merchant bank Galaxy Digital and a well-known Bitcoin bull, has once again reiterated his bullish stance to the biggest cryptocurrency, predicting that…

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Binance Shelters Against Job Losses During Global Pandemic

Binance, the world’s largest crypto exchange, has announced 100 new hires despite the ongoing economic downturn. While global unemployment continues hitting new highs amid the coronavirus pandemic, the cryptocurrency industry is stepping in to shelter job losses, with some of the biggest companies in the space announcing their intention to hire new employees. Binance, the world’s largest cryptocurrency exchange, has just announced that it is seeking to hire more than 100 new employees, despite the ongoing economic downturn. In an April 3 tweet, Binance invited people around the world to…

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South African National Blockchain Alliance Holds Online Launch

The South African National Blockchain Alliance has been launched to drive technology development by bringing public and private enterprises together. The South African National Blockchain Alliance carried out an online livestream launch while the country is in the midst of a 21-day lockdown to curb the spread of the coronavirus pandemic. The organization was due to be launched at the beginning of April in Johannesburg but had to be taken online as South Africa and the world tackles a global health crisis. The launch happened during a livestream on YouTube…

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2 Reasons a Deeper Correction in Stocks May End Bitcoin’s Rally to $8K

Bitcoin price could see a rally to $8,000 following the breakout to $7,000, but a potential selloff in stocks could put BTC at risk of revisiting new lows. The Bitcoin price (BTC) rallied to around $7,300 on April 3, and BTC is still holding onto the $6,700 support level, meaning the price could push the dominant cryptocurrency to the $8,000 area. But, a highly accurate hedge fund manager’s stock market warning could rattle the cryptocurrency market in the short-term. Dan Niles, the founding partner of Alpha One Capital Partners, said…

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150-Year-Old Chinese Gas Company Ramps Up Blockchain Adoption

A 150-year-old Chinese utility provider will ramp up blockchain adoption in partnership with VeChain and ENN Energy Holdings. Chinese energy company, Shanghai Gas, announced an expansion of its blockchain efforts following a successful trial partnership with supply chain management blockchain firm, VeChain (VET), on March 31. Shanghai Gas, founded in 1865, is owned by utility services company, Shenergy Group — which claims to occupy more than 90% of Shanghai’s gas market. The firm has an annual supply of over 8 billion cubic meters. Shanghai Gas expands blockchain adoption Shanghai Gas’…

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