Market Update for May 3rd

Saturday, May 4th 2019

Recent Headlines

Jaguar Land Rover Planning to Allow Helpful Car Drivers to Earn Cryptocurrency

Jaguar Land Rover, Britain's largest automaker, is developing a cryptocurrency wallet to be installed in its vehicles. Drivers could be rewarded with IOTA coins for enabling the automatic reporting of useful data, such as reporting traffic congestion and road condition, or for participating in ride-sharing programs. Jaguar has yet to announce a timetable for when these features will be officially released, but in the meantime, IOTA's token has a 20% incease in value since the news. Read more...

Volkswagen to Track Minerals Sourcing via Blockchain

Volkswagen has announced it is joining an open industry collaboration which employs IBM's blockchain platform to track how materials, such as the cobalt used in lithium-ion batteries, are sourced throughout global supply chains. Traditionally, audits of miners, smelters and consumer brands are done by third-party assessers. Coupled with blockchain, unalterable reporting data will be broadcast to trusted network participants in real-time. Ford, Hauyou Cobalt and LG Chem are also partners in this program. Read more...

Blockchain Adopted by Canadian Banks to Verify Client Identities

A Toronto-based firm called SecureKey Technologies Inc. has released a digital identity verification app that uses blockchain technology at its core. Available for iPhone or Android smartphones, consumers can use it to digitally prove who they are so they can securely and quickly access banking and other sensitive personal information. The software works with the "big five" Canadian banks, as well as credit agencies and insurance providers. Read more...

Fundstrat’s Tom Lee Predicts New All-Time Highs for Crypto by 2020

In a recent interview with CNBC, Tom Lee, founder of Fundstrat Global Advisors and ever-bullish Bitcoin predictor, has said that Bitcoin is now in a bull market, and its value may reach all-time highs by 2020. Lee cites Bitcoin crossing above it's 200-day moving average for the first time in over 13 months, and over-the-counter trading volumes surging as some of the primary reasons. Read more...

Code for Ethereum’s Proof-of-Stake Blockchain to Be Finalized Next Month

According to Ethereum Foundation researcher Justin Drake, Ethereum's highly-anticpated switch from a proof-of-work to a proof-of-stake network is on-track. Code specifications for this ardous upgrade are set to be finalized by June 30th. This transition is part of what is dubbed "Ethereum 2.0", which includes a new staking algorithm to replace mining, and scalability improvements to increase transaction throughput by a factor of one thousand. Read more...

Amazon Web Services Launches Managed Blockchain Service

Amazon Web Services has announced the general availability of Amazon Managed Blockchain (AMB). This blockchain-as-a-service (BaaS) allows businesses to quickly deploy their own blockchain, using Ethereum and Hyperledger open-source frameworks, without the need to provision their own hardware, install software or configure complex network settings. Read more...

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