Summary:
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Abu Dhabi’s and Belgium’s ports to build a blockchain-powered pilot project
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Gates Foundation starts to cooperate with Coil , the blockchain company from California
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Cryptocurrencies begin the week quite flat
The cryptocurrency market has started the new week quite calmly as major virtual currencies have not shown any more noticeable price movements. Over the past 24 hours, Bitcoin (BITCOIN on xStation5) went down around 0.5%, and Ethereum (ETHEREUM on xStation5) experienced a 1% decline. On Monday morning, the capitalization of the whole market stands a notch below the $210 billion handle whereas the capitalization of the most popular digital currency sits slightly above the $112 billion mark.
BITCOIN is trading within a broad range between $6740 and $6140. In recent hours the price has bounced off the resistance placed at $6450 and therefore a downward move at least toward $6320 is on the cards. Source: xStation5
Firstly, Maqta Gateway, being a subsidiary of Abu Dhabi Ports, announced that it started implementing a blockchain-based supply chain pilot project in cooperation with the Port of Antwerp (Belgium). The project called Silsal is considered as the first “blockchain-based solution to be developed locally by an Abu Dhabi local entity”, as Abu Dhabi Ports reported. According to the press release, the new solution provides “seamless and secure link between stakeholders across the trade community using the electronic ledger system”.
ETHEREUM, like other major coins, has been moving flat recently. The virtual currency is trading around the $200 handle. Source: xStation5
The second piece of news concerns another partnership of the Gates Foundation. Miller Abel, the principal technologist and deputy director of the foundation, announced that it cooperates with Coil, the California-based blockchain company, and Ripple. The cooperation is probably aimed to increase financial access for some communities. The lack of basic financial services makes serious problems for many countries and communities. Nevertheless, there are more and more initiatives focused on this area, and the cooperation of the Gates Foundation with Coil and Ripple may be one of the most significant projects in this field.
RIPPLE is fluctuating just slightly above the price levels seen on Friday. The price is currently moving below the short-term trend line. If a corrective move occurs, one may count on an extended pullback toward the 78.6% retracement. The nearest resistance might be found in the vicinity of the 61.8% retracement or $0.49. Source: xStation5
