Tags: bitcoin, btc, bitcoincash, bch, waves, wirex, holo, holochain, crypto, cryptocurrency
The Vakt trading system brings oil majors on the blockchain. WAVES, TenX, and 0X showcase their advancement in payments solutions.
Another recent case of blockchain being embraced in the entire world monetary system was the news that the oil trading platform, Vakt was now live. Developed by a consortium between oil giants BP and Shell, the purpose of the item is to use blockchain for lower prices and secure transactions with no intermediary. The Vakt platform was backed financially by ABN Amro, ING, and Societe Generale.
At first, the platform will be used by the consortium and a couple of commodities trading houses before it’s opened up to other participants in January 2019. Commodities trading is a core task for the significant energy companies and this item should be seen as another milestone for blockchain technology.
Bringing oil trading on a ledger will ensure greater efficiency, speed and security to one of the world’s most important assets. If the system is successful then we could expect to see it rolled out into other areas like gas, electricity, and carbon credits.
In a launch announcement, Vakt said the partnership would,
Lead the migration of all kinds of energy trade data to the blockchain, improving data quality, further strengthening security and increasing the rate of settlements industry-wide, while decreasing the cost for industry participants.
– JP Morgan’s Quorum Is Being Used to Tokenize Gold Bars – Facebook Competitor “Minds” Is Now Live on the Ethereum Mainnet
Among the greatest performing coins on the week was WAVES using a 56% profit. It is always important to notice coins which are outperforming in bearish market and WAVES will be one to watch as the platform touts itself as the fastest blockchain with real world solutions for storing and exchanging tokens, decentralized trading, and running smart contracts.
The move higher in WAVES was driven with a long-awaited upgrade to the mobile program, which increases security and allows users to rent their tokens in their smartphone. Mobile program users”number 207 million in the usa and an incredible 1.02 billion in China,” according to the WAVES site and this is the market they’re targeting.
The blog also claims that the mobile app was completely reworked to incorporate a crypto wallet, the Waves decentralized market and an important characteristic being a fiat gateway, together with the job saying proudly that no other platform provides anything like it!
The safety features of this app include encrypted traffic, face ID, and fingerprint scanning.
The profit in WAVES sees the coin trading at number 21 in the list of coins by market cap using a value of $250 million and a flow of 100 million. The rally has WAVES probing the prior lows from November’17 and June ’18 and could create the basis for a move to resistance at $3.50 and $6.00.
TenX is another coin which gained on the week with a 67% move higher to number 67 on the list. The transfer brings TenX to $0.40 and it seems like it can break from the support levels to check the $1.00 level . TenX has a market cap of $49 million with 114 million coins in supply.
TENx is an electronic wallet with a physical card which allows users to devote cryptocurrency at any shop – even if they don’t accept crypto. Constructed on the COMIT system, the program is available for Android, iOS, and internet. At the moment, the multi-currency wallet now only supports Bitcoin, Ethereum, and Litecoin but has plans to expand to more coins later on.
An interesting feature is that you may pay with a mixture of coins, so, by way of instance, you could split a payment in to 50 percent Bitcoin, 30 percent Ethereum, and 20 percent Litecoin. This would be a handy feature to take advantage of price movements between different currencies.
0x is another project that’s bringing crypto payments to another level with its launch of’Instant’, which allows a completely free way for programmers to incorporate token exchange functionality to any website or application.
Instant could be a game-changing merchandise for 0x with early adopters of the technology being Coinbase wallet and CoinGecko. Instant allows buying of ERC 20 and ERC 721 resources in an easy-to-use, protected interface without the need for order publications.
May Warren, CEO, and co-founder of 0x commented,
0x Instant provides an easy and intuitive interface which might be embedded in any site or program, allowing visitors to”1-click purchase” Ethereum tokens without difficulty. Behind the scenes, each copy of 0x Instant pulls liquidity from a enormous shared pool that’s globally accessible.
The Instant news has not helped the amount of 0x in a material way with the cost still looking bearish around $0.275. ZRX has a market cap of $148 million and a circulating source of 551 million.
Key support-turned-resistance in the $0.500 level are the crucial level for ZRX to breach if it is to make a sustainable rally greater.
Despite the continuing bearish activity from the crypto market, the key takeaway is that major corporations are ongoing with blockchain deployment, whilst some market jobs are opening the door to creating cryptocurrency payments easier for the general public.
Removing the trading exchange layer from the payments system is very important for the adoption of cryptocurrencies. As we see in the current fiat system with money exchange, trading works behind the scenes with sellers exchanging currency at the appropriate rate. Providing a”one-click” market with fiat on-ramp is a move in the right way towards viewing cryptocurrencies used for real-world options.