Cryptocurrency News Cast 📮 07-10-2020

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Welcome to The Cryptocurrency News Cast: A Complete Cryptocurrency News letter For Today

24hours Cryptocurrency Market Cap:

📈MarketCap: $336 B
📊24h Mcap %: -2.10%
⚠️Bitcoin Dom: 58.50%
📌Active Coins: 4,279
📍24h Vol %: 2.39%
💲24h Vol: $107 B

Cryptocurrency News Updates :

• Google Cloud Joins EOS Community To Become Block Producer
• Ethereum Hash Rate Hits New All-Time High
• US Congress Aims To Expand Crypto Adoption Around The Country
• China CBDC Processed Over $160M in Total Payments
• Bloomberg: Bitcoin To Hit $100,000 in Five Years As Adoption Increases
• DBS and Standard Chartered Will Launch Blockchain Based Platform
• Bitcoin Still Beats Gold As An Investment In 2020
• Decentralized Search Engine For Registering And Identifying Products Online

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Google Cloud Joins EOS Community To Become Block Producer

Block.one unveiled that the global cloud monster Google Cloud intends to become a block producer (BP) candidate on the EOS network and, after joining it, this branch of the global IT heavyweight will leverage EOS as it is taking steps to become one of its BPs. As per CTO Dan Larimer, Google Cloud will continue to provide its infrastructure to Block.one. He also stated that the blockchain giant will enable Google Cloud to take all of the advantages of blockchain. Read Full on U.Today

Ethereum Hash Rate Hits New All-Time High

Ethereum miners have pushed the Ethereum hash rate to record highs as the DeFi industry continues to boom. The Ethereum hash rate has set a new record of 250 terahashes per second, according to data from Glassnode. The rate has also jumped by 80% since the beginning of the year. The Ethereum hash rate measures the sum of total miners currently active on the network, and, as decentralized finance (DeFi) continues to grow, the Ethereum network’s hash rate is breaking record highs. Read Full on Decrypt

US Congress Aims To Expand Crypto Adoption Around The Country

The Crypto for Congress initiative has launched. All members of Congress will be given bitcoin as campaign contributions to help them learn about cryptocurrency. The initiative is supported by Congressional Blockchain Caucus members, including pro-crypto Representatives Darren Soto and Tom Emmer. A $50 bitcoin contribution will be provided to all 535 members of Congress. Crypto for Congress is an educational initiative aimed at expanding the use and adoption of crypto among Congressional candidates, elected leaders, and engaged citizens. Read Full on Bitcoin News.

China CBDC Processed Over $160M in Total Payments

China’s ongoing central bank digital currency (CBDC) trials have crossed the 1 billion yuan milestone. According to the South China Morning Post (SCMP), China’s digital currency electronic payment (DCEP) project processed over $160 million in payments from 3.13 million transactions at the end of August. According to Fan Yifei, the deputy governor of the People’s Bank of China, the DCEP project is making “positive progress” and is finding adoption cases across a broad spectrum of payment transactions. Read Full on BeInCrypto.

Bloomberg: Bitcoin To Hit $100,000 in Five Years As Adoption Increases

Bloomberg analyst Mike McGlone has predicted that the price of bitcoin will hit $100,000 by 2025. McGlone premised his argument on past bitcoin trends. He said, in Bloomberg’s Crypto Outlook report for October. “Most demand and adoption measures indicate bitcoin is more likely to stay on its upward path.” He also pointed to bitcoin’s increasing hashrate, growing institutional investor interest, the coin’s limited supply as well as failing global macroeconomics as potential key drivers for future price growth. Read Full on Bitcoin News

DBS and Standard Chartered Will Launch Blockchain Based Platform

The Singapore-based multinational banking entity DBS and Standard Chartered have completed the proof-of-concept of their blockchain trade finance platform called the Trade Finance Registry. DBS and Standard Chartered said in a statement that the pilot test helped reduce the chances of duplicate financing from different bank lenders for the same trade inventory. This, they added, will lead to greater trust and confidence among banks and traders. Platform will first be used by the Monetary Authority of Singapore. Read Full on cointelegraph.

Bitcoin Still Beats Gold As An Investment In 2020

Bitcoin still beats gold as an investment in 2020 despite the precious metal generating its biggest returns in a decade. For popular statistician Willy Woo, zooming out to examine Bitcoin’s returns versus gold since the cryptocurrency’s inception in 2009 strengthens the case for holding BTC. The numbers would appear to speak for themselves. $1 of Bitcoin purchased even one year ago would have netted its owner $0.31 profit, while gold would have gotten $0.27. While $1 invested 5 years ago is now worth $44.43, while $1 of gold is worth $1.67. Read Full on cointelegraph.

Decentralized Search Engine For Registering And Identifying Products Online

S4FE ($s4f) a decentralized search engine for items that makes it possible for individuals or companies to store things online and solve the problem of ownership using Proof-of-Identity is about to go live on the 14th November 2020. Users can, in realtime, add status updates about their items, like an item is available, lost, or stolen. S4FE also allows transferring the digital proof of ownership of its item to another user. Project’s ERC-20 based token S4FE (S4F) is available on multiple crypto exchanges including UNISWAP. Read Full on S4FE.