Summary:
- Australia wants to develop a national blockchain platform
- OECD plans to organize a conference focusing on the blockchain’s potential
- Litecoin (LITECOIN on xStation5) returns below the $60 handle
Investors have started Thursday’s trading in sour moods as major cryptocurrencies have gone down over the recent hours. The Bitcoin price has lost 1.5% and other major cryptocurrencies, including Ethereum or Ripple, have had even worse results. Cryptocurrencies’ losses sent the market capitalization to around $225 billion from yesterday’s level of around $230 billion. However, despite these losses the Bitcoin market cap stood around the $120 billion handle. Today’s newsflow concerns the new concept of a Australian national blockchain platform and the OECD’s blockchain-focused conference.
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BITCOIN has lost a part of its previous gains. The cryptocurrency has broken its 8-period moving average on the H4 interval (a yellow line on the chart), and it is fluctuating a little below the $6900 handle at press time. Source: xStation5
Firstly, let’s mention about a planned blockchain conference. The Organization of Economic Co-operation and Development (OECD) plans to organize the conference, called the OECD Blockchain Policy Forum, focusing on the blockchain technology’s potential and other ideas related to this technology, the organization announced on Wednesday. The blockchain conference will take place in Paris (at the OECD’s HQ) on September 4-5, and it will be participated by Angel Gurria (the Secretary-General of the OECD) and some countries’ Prime Ministers. What’s interesting, the OECD’s conference will be broadcast live.
ETHEREUM, like Bitcoin, has gone down (nearly the 4% decline) and it has broken its 8- and 33-period moving averages on the H4 interval (yellow and purple lines). The cryptocurrency with the second largest market capitalization is trading slightly below the $275 handle at press time. Source: xStation5
Secondly, the Australian Commonwealth Scientific and Industrial Research Organisation claimed that it wanted to create national blockchain platform for Australian companies to facilitate doing businesses easier (thanks to using smart contracts). The new platform, called Australian National Blockchain (ANB), will be developed in cooperation with IBM (the US-based technology giant) and Herbert Smith Freehills (the Australian-British law firm). A pilot project for the new Australian platform will start probably by the end of this year.
LITECOIN has broken the $60 handle (the crucial hurdle in the past), but it has returned below this level recently. On Thursday, the digital currency is trading a notch below the mentioned level. Source: xStation5
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