other

Jun 26 2021

Bitcoin Price Prediction: BTC/USD Creeps toward $31,000

Bitcoin Price Prediction – June 25

The Bitcoin price moves below $32,000 as the king coin is likely to climb steadily with a few downward moves.

BTC/USD Long-term Trend: Ranging (Daily Chart)

Key levels:

Resistance Levels: $37,500, $39,500, $41,500

Support Levels: $26,500, $24,500, $22,500

In recent days, BTC/USD has been turbulent keeping its price above the 9-day and 21-day moving averages. During the European session today, the Bitcoin price rises sharply by moving above the resistance level of $32,500. Meanwhile, the first digital asset exceeded this level before correcting lower. At the moment, the price is declining and remains below the 21-day moving average at $31,426.

Bitcoin Price Prediction: What is the Next Direction?

A crucial uptrend could form above the 9-day and 21-day MAs, with support close to $30,000 on the daily chart. However, if the decline occurs below this barrier, the price could extend its downward correction to the $28,000 level and any other loss could possibly push the Bitcoin price to the support level of $26,000.

Looking at the daily chart, the Bitcoin price touches the daily low of $30,173 and a further drop may cause the market to reach the critical supports at $26,500, $24,500, and $22,500. In other words, if the market were to rebound, traders could see the next buying pressure towards the resistance levels of $37,600, $39,500, and $41,500. Nevertheless, BTC still ranging on the daily chart, with the Relative Strength Index (14) moving sideways.

BTC/USD Medium-Term Trend: Bearish (4H Chart)

Looking at the 4-hour chart, the resistance at the $32,000 was too heavy for the bulls to overcome. So the price is seriously struggling in a consolidation mode, which has made BTC remain indecisive over the past few hours now. The resistance levels to watch are 34,000 and above.

However, the Bitcoin price is still roaming around $31,755 and we can see that the bullish supply has been slowly turning heavy in the market, while the bears are trying to drag the price below $32,000 support. Meanwhile, the $30,200 and below may come into play if BTC breaks the mentioned support. The technical indicator Relative Strength Index (14) is moving to cross below the 40-level, suggesting more bearish signals.

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Bitcoin Price Prediction: BTC/USD Creeps toward $31,000

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Jun 26 2021

Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money

Firstly, let’s start by explaining Central Bank Digital Currency, i.e., CBDC, which necessarily denotes the fiat-like currency of a nation. These are mostly present by making utilization of electronic records or digital token to represent the virtual form.
It has been years since digital currencies have started dominating the complete framework, just like some cryptocurrencies such as Ether and Bitcoin, which have encountered steep rise as well as a downfall. Amidst all of these, they had been in talks. Digital currencies work on a DLT referred to as blockchain technology.
Understanding CBDC
The blockchain for digital currencies has owed to magnum opus popularity in years, all thanks to its characteristics of decentralization and non-regulated nature. Bankers started to see this as a plausible danger to the old-style banking mechanism that is not only different from it in terms of functioning but also is different in terms of its decentralized and regulation-free nature. The traditional banking system works under the discretion of a primary authority like the central bank.
Now the cryptocurrencies that are available by newer sources or most unreliable sources raise the senses of awareness about the chances of thefts, scams, and hacks. And this lack of clarity is the reason for which there is no suitable reserve maintenance to back up the valuations of cryptocurrencies.
Now, seeing the inclination of these cryptos, central banks around the world are planning to launch their cryptocurrencies. Their version of cryptocurrencies will be monitored by the corresponding centralized banks of each country, and they are termed Central bank digital currencies. The base of the digital money will also be controlled by the CBDC. And this will be funded by monetary assets like foreign currencies or gold.
CBDC with blockchain for virtual currencies has the potential to bring ease and security of cryptocurrencies into one place. In this type of currency, the top authority in banking of the countries has all the responsibility and is liable to every action.
Could this adoption of CBDC bring Financial Stability?
Thus, it is much clearer now that CBDCs have the capability to provide what other cryptocurrencies are offering but in a more different way. It is providing virtual money with safety, accessibility, security, and transparency.
With the presence of a blockchain wallet for digital currencies, the public now has the power to access the lawful tender, even when you don’t have money. With the help of CBDC, both cash and cryptocurrency will be recognized as a legal mode of payment.
With the growing number of years, the usage of notes is gradually decreasing, as now people are more used to payment options like cards, contactless payments, and cryptocurrencies. There have been several negative cases concerning cash, although they are not excluded by central bodies.
So, now CBDCs will speed up the process of making society a cashless one. And with the declination in swipes with card-based transactions, it is presumed that people are rapidly adapting to novel approaches for making finance-related transactions.
Blockchain for financial stability can be considered as a viable option these days for making payments because it is government-regulated. The central bank’s digital currency gets completely aided and governed by the central bank, which raises the assurance and credibility of cryptocurrency. Now, these types of assurances are growing the hopes of companies that are using the technology of blockchain to invest freely.
Traditionally for making cross-border-based payments, RTGS infrastructure is mandatory for banks to offer interbank commitments. The most advantageous side of CBDC is that it can be used in making cross-border-based payments. When it comes to cross-border and interbank-based settlements, the CBDC is highly credible.
The current traditional set-up of banking lags in its efficiency of offering cross-border-based payments. Limitations like time lags even can result in exposure to several risks. But on the other side of the coin, the CBDCs are filled with several advantages like providing zero counterparty credit risk, anonymity, and 24hours accessibility.
But legalized wholesale-based CBDCs might fail to provide efficiency over the existing traditional banking set-up, as it needs to evolve furthermore.
Can CBDC Help in Improving Payment Systems?
More enhanced productivity in payment transactions is one of the plus sides of CBDC because it has a more reliable security set-up that can be utilized in the making of retail and also large-value-based payment mechanisms.
Now talking about the retail payment option, where it will further improve their payment efficiency, CBDC will get longer hours for settlements with quicker settlement in terms of wholesale and interbank payment systems.
Conclusion
Thus, the central bank, digital currencies, and financial stability can be considered to hold a firm position in the near future because it is faster and safer. With the up-gradation in its systems, it holds the potential to overtake the current banking set-up.
 Central Bank Digital Currency and Financial Stability (CBDC) | New Forms of Digital Money
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Jun 25 2021

Solidity for Beginners: A Guide to Getting Started

Solidity is a pristine programming language formulated explicitly for developing smart contracts for the Ethereum blockchain. The newly developed language has gained a significant role under Ethereum’s contracts framework that is of great importance in blockchain technology; in fact, you will be required to learn the language in order to code Ethereum Dapps (Decentralized Applications). The developers created this language with an aim to showcase the real potential of the system of smart contracts in the realm of digital exchanges.

This article will provide you with a detailed understanding of smart contract systems, solidity language, functionality, and solidity basics. These fundamentals will lend you basic knowledge about the subject to help you in getting started.

Table of Content

What are smart contacts?
What is Solidity?
Solidity basics for beginners.
How is compiling and testing of smart contact done?
An overview: Solidity flow of execution
Closing Thoughts.

What Are Smart Contracts?

The term smart contracts have gained a ton of publicity since its formulation; it’s been at the center of attention just like other popular terms like AI (artificial intelligence), Machine Learning, Blockchain, etc. Smart contracts, also known as crypto-contracts, are automatic computer programs that empower currency tradings, digital asset exchanges, and other kinds of businesses. These exchanges are secured by a predefined set of rules summoned as a smart contract system. Thus, smart contracts not just guarantee that both the parties are adhering to the principles and regulations of the smart contract but also automatically implement the contract obligations.

What is Solidity?

Solidity is the principal programming language for assembling smart contracts utilized in the Ethereum blockchain. It is a contract-based language, which implies that smart contracts are liable for putting away the entirety of the programming reasoning on which the Ethereum blockchain runs. It is statically formulated to uphold essential elements like libraries, legacy and that’s just the beginning!

Solidity is an easy language purposely made for an oversimplified way to provide genuine solutions for the issues of real-world use cases. The language has been implemented on the Ethereum platform, a Virtual Machine carrying out the blockchain network to foster decentralized public records to make smart contract frameworks. This programming language has similar functions as JavaScript and C++. Moreover, the language upholds state factors such as value types, data types and programming capacities.

However, the language still deals with constant updates and modifications across the platform. Subsequently, an aspiring SOLIDITY DEVELOPER should be aware of the updates through forums of the Ethereum platform, chat rooms, and websites. Currently, Ethereum and Solidity are both going through visionary growth.

Solidity Basics for beginners

Solidity language supports the following general value types:

Booleans: It returns a true or false value.
Integers: The int/unit for both unsigned and signed integers are supported by Solidity.
Address: An address can carry up to a 20-byte value.
String Literals: String literals are depicted using either double or single quotes. They imply trailing value zeroes.
Modifier: Modifiers ensure the fulfillment of the predefined conditions before code execution.
Mappings: Mappings return values related to a given storage site.

These generic value types can be further integrated to develop complex data types.

How is the compiling and testing of smart contract done?

Once you have created a smart contract using Solidity on a local system, install an easy-to-use test environment that accepts simple Truffle commands. The compiler transforms the source code into the Ethereum Virtual Machine code, allowing you to test your code without needing to pay Ether coins.

An overview: Solidity flow of execution

The syntactical consonance of Solidity with another programming language, JavaScript, has extensively improved the system’s usability. As a beginner, you must have a clear idea of the execution process under a solidity programming language command:

The Ethereum format documentation draws out an instruction text size of 32-byte containing a stack and memory model. The EVM generates a program stack that monitors the registries under information storage and program counter. To keep a successive stream to control the program, the program counter loops/jumps.

Additionally, the virtual memory lends short memory for information distribution that is expandable to some degree compared to a permanent storage allowance provided by the nodes of the blockchain.

The aim of creating solidity language for Ethereum is to maintain the determinism and accuracy of smart contracts. The node executes programming tools and smart contracts within the connected blocks in the Ethereum for creating a new block.

This implies the code being executed is enrolled based on the sequence of the block.

While entering the new stage of the execution process, the program phase gets shifted to new storage exchanges. At first, these exchanges are performed at the miner’s location. After execution, the new block is dissipated to different working nodes within the blockchain.

To confirm the credibility of the framework of smart contracts, every node autonomously checks the block by correlating the state changes by using any local copy of the block. In cases where the state changes are deterministic, nodes of the blockchain accept the exchanges. Similarly, in a circumstance where the nodes could not reach an agreement, the execution of the block stops, and the network may end.

Closing Thoughts

Solidity is the language that has the power to develop the frameworks of contracts with robust functionality. Smart contracts have generated ample opportunities for further blockchain developments and multiple sectors of online business. Hopefully, you learned the fundamentals of solidity programming language to use while creating your smart contract.

Learn more about blockchain technology under the guidance of a highly qualified Ethereum expert at the BLOCKCHAIN COUNCIL.

Solidity for Beginners: A Guide to Getting Started

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Jun 24 2021

50,000 electric vehicle charging stations in Europe to offer crypto payments

Two payments firms have partnered to roll out crypto payments across 50,000 electric vehicle (EV) charging stations in Europe.

The partnership is between Irish e-commerce and mobile payment solutions firm HIPS Payment Group Ltd and Vourity, a Swedish firm that specializes in unattended payment facilities such as EV charging stations.

The integration of crypto payments with charging stations will occur over the next three years starting from November 2021.

The firms haven’t revealed which cryptocurrencies will be supported yet, but Vourity has dropped a pretty strong hint that Ethereum is likely to be among the first after it released an image of a payment terminal with an ETH logo on it. Ethereum is moving to the much more energy efficient Proof-of Stake consensus mechanism in the next year, which could mitigate any backlash among environmentally conscious EV drivers.

“We are currently evaluating what cryptos/coins we will support. It will be converted to fiat,” stated Hans Nottehed, the CEO of Vourity.

Vourity payment terminal, with an ETH logo

Crypto payments will be integrated with Vourity’s EV charging stations by connecting to the blockchain via Hips Merchant Protocol’s native protocol token Merchant Token.

Back in May, HIPS Payment Group launched the HIPS Merchant Protocol, the HIPS Merchant Protocol Gateway, and its governing Merchant Token.

The protocol was built on Ethereum and Solana in May 2021 and plans to expand support to Cardano in the future.

“With near real-time transaction speeds, in addition, the Hips Merchant Blockchain is designed for merchant transactions regardless if they are mobile, instore or e-commerce and utilizes the interchange concept from the payment card industry,” HIPS noted in May.

EV crypto innovation

Tesla famously did a U-turn on accepting Bitcoin (BTC) payments for vehicles, with Elon Musk noting the firm won’t change course until the mining sector is at least 50% powered by clean energy. Other EV-focused firms have sought ways to innovate using “clean” crypto mining and adoption.

At the beginning of this month, Canadian light EV manufacturer Daymak announced an upcoming EV set for 2023, that is fitted with a crypto mining rig that can mine Bitcoin and other cryptocurrencies while it’s charging or parked.

In March, Stellantis, the parent company of European car manufacturer Fiat, partnered with Kiri Technologies, to promote an “eco-driving style,” by rewarding Fiat EV drivers in cryptocurrency via Kiri Technologies’ KiriCoin.

In that same month, Volkswagen Group Innovation, the research department of German car Volkswagen, announced a partnership with Energy Web, a non-profit organization focused on open source energy transition.

The duo teamed up to research methods of using EV’s and charging stations as part of the power grid using blockchain.

Jesse Morris, the chief commercial officer of Energy Web, spoke with Cointelegraph and emphasized the benefits of tracking the integration between EVs, charging stations, and power grids using blockchain.

Morris mentioned that during times of local grid congestion, Volkswagen drivers could be incentivized not to charge by being paid out in crypto or fiat. Additionally, utility providers could pay EV drivers to store energy during times of excess generation on the power grid.

50,000 electric vehicle charging stations in Europe to offer crypto payments

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Jun 23 2021

Supply Chain Optimization Is Crucial To Your Business. Learn Why!

We are residing in a highly competitive world. And it is becoming difficult for the businesses out there to take a stand. And thus, they should look for continuous enhancement to meet consumer needs. To do it successfully, supply chain optimization can be undertaken.

It improves both performance and network efficiency to fulfill the needs of the customers. This article will describe to you why supply chain optimization is vital for your business.

What is supply chain optimization?

Like blockchain, supply chain optimization uses resources and technologies like AI (Artificial Intelligence) and IoT (Internet of Things) to enhance both performance and efficiency in a supply network. A supply chain of an organization offers an efficacious customer experience.

Business efficacy and responsiveness are enabled by a high-performing and powerful supply chain to give the customers what they want. And ultimately, it brings profit to the organization and also enhances the sustainability of the supply chain.

Supply Chain Optimization Is Crucial To Your Business. Learn Why!

Supply chain optimization process:

A successful supply chain optimization process undertakes three phases. The phases are:

Supply chain design:

This phase includes a description of network design processes such as the location of warehouse facilities and how the product flows between them. It also showcases strategic objectives like establishing supplies, demand forecasting, and the scheduling and planning of operations associated with manufacturing.

Supply chain planning:

It includes the making of a strategic supply chain development plan, planning for inventory, and assets coordination for optimizing goods delivery, information, and services from supplier to consumers, ultimately balancing supply and demand.

Supply chain execution:

This phase focuses on execution-oriented systems and applications, inventory and warehouse management, management of transportation, management of global trade, and other execution applications like supply chain visibility, real-time decision support, and order management systems.

Importance of supply chain optimization:

The complexity of supply chains cannot be ignored, but the complexity pays technological benefits, especially when AI and IoT are integrated with blockchain.

A successfully designed supply chain management and optimization processes describe the given below issues:

Silos:

As the data is siloed, supply chains are unable to get the needed insight, and they lack end-to-end visibility. All these together pull them from meeting the needs of their consumers. For informational silos, a supply chain optimized through connected technology is considered to be the best solution.

Client needs:

The expectations of the customers are rising. And this means that the supply chains must keep up with innovating and optimizing each step to meet the needs of their customers. The organizations must prioritize the supply chain not only to meet but exceed the customer expectations as well.

Competitive advantage:

Earlier, supply chains used to focus on the design of the network like distribution fleet and warehouse placement. But currently, optimization on real-time decision support and execution-oriented applications is the indispensable process for protecting the brand and building competitive advantage.

Agility:

The supply chain must respond fast to the changes like- customer demands, supply distributions, and competitions. To stay competitive, the modern supply chains must be active and quick.

Sustainability:

There are several social and environmental impacts caused by supply chains. Modern customers crave to know whether the goods are manufactured or produced in an ethical and sustainable method by using low-impact extraction or renewable methods.

Features of an effective supply chain optimization:

Blockchain development for supply chain itself is a powerful technology. And when it is further integrated with AI or IoT, the power rises dramatically. Firstly, blockchain migrates from a traditional business network and brings good quality data together across the partners.

When AI is added, it extracts a meaningful context and produces strong insights resulting in several potential benefits.

Some of the vital features of an effective supply chain are given below:

Inventory tracking:

It looks through the entire blockchain in supply chain and knows exactly where the inventory is.

Intelligence:

For real-time intelligence, it leverages composable data and AI services.

Reporting and analytics:

For forecasting future sales and demands, it evaluates patterns in processes.

Order management:

It tracks orders, manages returns, sends quotes, and contributes to customized pricing.

Visibility:

It offers up-to-date inventory tracking and available-to-promise data.

What is the future of supply chain optimization?

Automation will be delivering significant scaling advantages, contributing to blockchain for supply chain management. Some of the technologies that will continue to develop are:

IoT sensor data will offer insight into inventory status and location.

AI will make monitoring of inventory more accurate.

Blockchain:

It will improve traceability, visibility, transactional trust, and will verify the authenticity as well.

Intelligent order management:

Inventory visibility will be mastered with automation and improved demand forecasting.

Conclusion:

Indeed, it is advantageous to opt for supply chain optimization in businesses. Technology, along with globalization and empowered customers, is changing the way how a business manages its supply chains. In the future, the supply chains are expected to take more accurate actions.

Supply Chain Optimization Is Crucial To Your Business. Learn Why!

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