March 8, 2021

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Crypto News of the Day (7.4.) | CargoSmart, Tesla and Cosco are testing the blockchain platform, Bitfinex announces staking rewards for EOS, Cosmos and more

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Crypto News of the Day (7.4.) | CargoSmart, Tesla and Cosco are testing the blockchain platform, Bitfinex announces staking rewards for EOS, Cosmos and more

Here you can find an overview of the most important events that took place during the last day in the cryptoworld.

Markets

Traditional financial markets have recovered remarkably over the last few days and are still growing. Investors seem to be in an optimistic mood and believe that the worst is over, because government measures have helped alleviate the pandemic and kick-start the recovery of economies. However, we will still have to wait to confirm this trend. Bitcoin also grows as well as altcoins. The current BTC price is above $ 7,300. ETH is the strongest of the top 10 cryptocurrencies, now over $ 172.

You can monitor the current cryptocurrency prices – here.

 Cryptocurrency exchanges, Banks

At a time when most companies across different sectors are dealing with layoffs and other cost-cutting measures triggered by the pandemic, this leading crypto firm had plans of its own. Binance, which is one of the most popular cryptocurrency exchange, announced the acquisition of CoinMarketCap. CEO of the crypto exchange, CZ noted:

.. so CoinMarketCap will continue to maintain neutrality and independence and any other exchange who wants to continue to working with them, will continue to work with CMC.

Bitfinex today announced the launch of its Staking Rewards Program for various digital assets. At current, users can earn up to 10% per year by depositing EOS, Cosmos’ Atom, and V Systems token, VSYS.  Tezos’ native token, XTZ, will be launched in May at the latest.

Outside of trading, the exchange now offers yet another revenue stream for Bitfinex customers. The staking rewards for this first batch boast returns as high as 10% per year. The exchange’s CTO, Paolo Ardoino,  said that this figure is currently only possible for V Systems’ VSYS. The yields for other tokens range between 1.5% and 8% and added:

The rationale behind choosing EOS, V-Systems and Cosmos/ATOM was that Bitfinex is one of the key EOS block producers and has a really active EOS market. Cosmos and V-Systems are two of the most popular staking enabled blockchains.

Crypto trading company Coinhouse has become the first crypto company to be registered with France’s top financial regulator, the Financial Markets Authority (AMF). The registration means Coinhouse now has a shot at getting banking services in France, which could give the firm cheaper services than the German bank it currently works with.

Coinhouse spokesman Julien Moretto told 

It’s a recognition from the AMF that you’re a serious actor and do some strict [know-your-customer] policy

To receive a registration, Coinhouse had to prove it was capable of freezing assets and making funds available in the case of proven fraud. It also had to hire a compliance controller to detect suspicious financial activity and prove it could use blockchain analysis tools like Scorechain. 

Blockchain, Technology

CargoSmart, the software wing of the Hong Kong-based Orient Overseas Container Line, aims to transform the cargo release process using its new blockchain application. According to a report published by Splash 247 on April 7, CargoSmart partnered with Cosco,  Shanghai International Port Group (SIPG), and the electric vehicle and clean energy behemoth Tesla to conduct a pilot project for the application.

Speaking of how their blockchain-based application would help the shipping industry globally, Cargo Smart stated:

The application will undoubtedly accelerate the digitalization of shipping industry processes and the further optimization of currently stressed global supply chains.

Nestlé has added its Zoégas coffee brand to the IBM Food Trust blockchain and partnered with the Rainforest Alliance to bolster the coffee’s data traceability.  The food giant first announced the news in a blog post Monday. It will add QR codes to Zoégas’ “Summer 2020” coffee product packaging, sold in Sweden. When scanned, these codes will show consumers their beans’ journey from harvest to shelf, with documentation stored on IBM’s food tracing blockchain. 

IBM Food Trust will get part of that data from the sustainable product certification nonprofit the Rainforest Alliance and the rest from Nestlé. That marks a change of stance for the multinational food conglomerate, which had “limited” third party supply chain data in previous QR code traceable product campaigns. 

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