Summary:
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Commonwealth Bank of Australia has completed a cross-border shipment tracked by the blockchain technology
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New York’s medical school announces a launch of a new blockchain research centre for healthcare
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Ethereum (ETHEREUM on xStation5) drops to around the $440 handle
Monday was marked by declines on the cryptocurrency market. Major cryptocurrencies have suffered losses over the past 24 hours. The capitalization of the whole market stands subtly below the $290 billion mark whereas the capitalization excluding the most popular cryptocurrency stands slightly below $150 billion. Today’s major topics concern the large Australian bank’s project and New York medical school’s new research centre.
Let’s start with a story from Australia where a promising blockchain project related to the global trade has been finalized lately. Commonwealth Bank of Australia, one of the four biggest Australian banks, has conducted a cross-border shipment of goods fully tracked by the blockchain technology. The bank has transported some 37,000 pounds of almond from Australia to Germany. The blockchain platform used in the process was developed on the Ethereum network. Let us recall that trade was one of the fields where blockchain was considered especially useful due to the technology’s potential to track the transfer of goods within the supply chain.
BITCOIN tested the support zone around the $7800 handle, but failed to break below. BITCOIN trades a notch below $8000 handle at press time with the 33-period moving average on the H4 interval (a purple line on the chart) serving as the closest technical resistance level. Source: xStation5
According to Crain’s New York Business media outlet, the Icahn School of Medicine has announced a launch of its own blockchain research centre, the Center of Biomedical Blockchain Research. The research lab will by used by the medical school founded by the Mount Sinai Hospital and will focus on examining possible applications of blockchain in healthcare. Moreover, academics will also create own prototype networks. Among projects researched at the Center of Biomedical Blockchain Research that can be boosted by the blockchain technology one can find drug development process or prevention of the sale of counterfeit drugs.
ETHEREUM failed to overcome the $460 mark prompting a decline below the $440 handle. The virtual coin is trading in the vicinity of its previous local lows which were levels that saw some price action in the past. Source: xStation5
At the end let’s mention quite an interesting story coming from one of the Micronesian islands. Namely, the American archeologists are arguing that the Micronesian island’s monetary system could be the precursor to Bitcoin. Islanders’ stone money had many similarities to current digital currencies, for example the public storage or the peer-to-peer maintenance of the infrastructure and circulation. Maybe, inhabitants of Micronesian island of Yap could be proud of some their ancestors?
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