ItsCryptoLab

Walmart Won Patent for Managing Crypto Energy Consumption.

2018-06-15T14:18:00.001+05:30

Walmart a U.S based retail giant has won a patent for the development of an Management Systme for crypto-powered energy consumption that will be powered by Bitcoin (BTC) or other crypto currency.
The system facilitates better management of electrical consumption by standalone electrical devices.

The patent states that “Each unit cryptocurrency may represent a unit or a portion of a unit of energy.” Furthermore, regarding cryptocurrency, the patent says “cryptocurrency may be a bitcoin, an altcoin, or a derivative of a bitcoin, or any digital currency.”

The patent says:

Each unit cryptocurrency may represent a unit or a portion of a unit of energy. For example, if 1 cryptocurrency unit is set to be equivalent to 1 kWh, the provider interface module 131 may receive a capped total amount of cryptocurrency of 800 for a month to spend on purchasing 800 kWh of electricity.

Added :

Currently, energy providers deliver energy to locations that inefficiently use the energy, which leads to increased energy costs for consumers. The increased costs result from various appliances and devices that consume energy at higher levels than the appliance or device may actually need to function or perform certain tasks. Smart appliances and devices are now available to consumers that can operate more energy efficiently, but still consume more energy than needed or economically practical.

Walmart’s “Smart Package” patent employs a blockchain-based tool to track package contents, environmental conditions, location, and other details. The company is also getting suppliers to put food on a blockchain, which it says will reduce waste, as well as improve contamination management and transparency.

Ethereum not a Security says US SEC

2018-06-15T14:01:00.003+05:30

The SEC has declared that Ethereum and its digital coin ether, are not securities today, during the Yahoo Finance summit. The announcement led the price of ether to rise by over 8 percent, hitting a high of $520 per token.

SEC Corporation Finance Director William Hinman told Yahoo Finance’s All Market Summit: Crypto in San Francisco that:

Based on my understanding of the present state of ether, the Ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions.

Hinman also hints that other cryptocurrencies, or altcoins, might one day no longer need securities regulation. He says,

Over time, there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required.

The SEC’s stance may throw a wrench into many companies’ plans, particularly those looking to launch an ICO in the future. Said startups and companies will have to take steps to ensure that they comply with whatever rules and regulations the regulatory authority lays out.

However, Hinmann also talked about assets that were originally offered as a security which may later be offered as a non-security. He explained:

But what about cases where there is no longer any central enterprise being invested in or where the digital asset is sold only to be used to purchase a good or service available through the network on which it was created? I believe in these cases the answer is a qualified “yes.”

Wells Fargo Banned Cryptocurrency

2018-06-14T11:12:00.001+05:30

Banking giant Wells Fargo has banned its customers from using their credits cards to buy cryptocurrency.

These prohibitions have come as the cryptocurrency market has entered a bear cycle, as banks say that they worry investors buying coins on credit will default on their payments.

Customers can no longer use their Wells Fargo credit cards to purchase cryptocurrency,” a bank spokesperson said in a statement Monday. “We’re doing this in order to be consistent across the Wells Fargo enterprise due to the multiple risks associated with this volatile investment. This decision is in line with the overall industry.

While putting a prohibition on such cryptocurrency purchases for now, Wells Fargo “will continue to evaluate the issue as the market evolves,” Shelley Miller, a spokeswoman, said in an emailed statement.

India’s HDFC Bank, the country’s largest private bank, informed clients that its debit and credit cards cannot be used to purchase cryptocurrency in order to protect customers. Restrictive measures were also supported by the largest UK bank, Lloyds Banking Group, and Virgin Money, which is present in Australia, South Africa and the UK.

What Bobby Lee has to say ?

2018-06-14T00:40:00.000+05:30

What’s hard, harder, and hardest about #Bitcoin? #HARD —> Buying Bitcoin. #HARDER —> Not selling it after a panic crash. #HARDEST —> Holding (#HODL) Bitcoin for 10+ years, to see a 1,000x to 10,000x increase in value. Maybe even more! No one said it was easy. What about you?

Didn’t buy Bitcoin.

Sold it in panic.

Already sold it all.

Still HOLD!
Vote it herehttps://twitter.com/bobbyclee/status/1005817675501596672

Bitcoin taking U-Turn? Government on work ! may allow cryptos with riders.

2018-06-13T23:45:00.001+05:30

A panel has formed to look into crypto-currency regulation. Government does not seem to be in favour of banning it. Instead, it may suggest allowing crypto-currency with riders.

On April 6, RBI forced exchanges and traders to stop using their accounts for trading in virtual currencies mandated banks, e-wallets and payment gateway providers to withdraw support for crypto-currency exchanges and other businesses dealing with virtual currencies

in India.

This led them to approach the Supreme Court against the regulator’s move. The case is scheduled for hearing on July 20.

Lack of proper stakeholder consultation and absence of reasonable grounds to restrict any business are the primary provisions under which the RBI notice has been challenged in the SC.

Backed Securities on a Blockchain

2018-06-13T16:30:00.001+05:30

JD Finance, a subsidiary of Chinese e-commerce giant JD.com, announced on Wednesday that it is planning to issue asset-backed securities (ABSs) on a blockchain.

According to a report from the Securities Times, an outlet of the China Securities Regulatory Commission, JD Finance established the trial in partnership with Huatai Securities, a brokerage firm that will underwrite the issuance, as well as Xingye Bank, which will act as a trust.

JD Finance aims to issue the securities using a consortium blockchain that will see each party act as a node, recording the transactions in a transparent manner. The experiment sets out to ascertain if the blockchain can meet the demands of the various parties involved in the asset securitization process, such as issuers, underwriters and buyers.

Btc/usdt daily candlestick

2018-06-12T15:11:00.001+05:30

Rsi approaching oversold region. Bollinger bands also indicating potential bull move ahead.

And strong support at 6500$ level.

If it closes above 6500 then next targets would be :
1. 6900
2. 7200
3. 7750

2016 Volkswagen Passat has new tech, new looks and bad timing

2018-06-11T20:41:00.002+05:30

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Instagram now has 400 million users

2018-06-11T19:55:00.002+05:30

By: Mashable

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Bentley's fast, tech-savvy SUV makes American debut

2018-06-11T19:16:00.003+05:30

By: Mashable

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Thomson Reuters Data Now Tracking Top 100 Cryptos

2018-06-11T19:11:00.000+05:30

Thomson Reuters is expanding its cryptocurrency sentiment data toolkit to cover 100 different coins, the company announced Wednesday.

Initially launched back in March, the bitcoin data feed was created in partnership with MarketPsych Data LLC. The Thomson Reuters MarketPsych Indices Cryptocurrency Sentiment (TRMI 3.1) package monitors more than 2,000 global news and 800 social media sites in real-time.

It gauges sentiments such as "excitement" or "hope" to provide insight on investment and reveal market patterns using natural language processing combined with machine learning.

"Adding a cryptocurrency-focused sentiment feed to our suite of cross-asset solutions has...enabled us to provide our customers with invaluable insights that may help them make strategic investment decisions," said Pradeep Menon, Thomas Reuters' global head of investing and advisory.

Supplemented by quantitative analysis, TRMI 3.1 uses a host of additional tools developed by the behavioral economists at MarketPsych to "identify influential themes and more rapidly develop actionable strategies", according to the firm.

This expansion in the capabilities of TRMI is part of a growing use case for artificial intelligence technology among investment insights products.

CEO of MarketPsyche, Richard Peterson, explained in a past interview that trends in digital conversation can be identified as leading or lagging investment indicators.

With a class of assets like cryptocurrencies that are by nature digital – and the information flow around them highly sourced from online forums – sentiment data may prove to be a particularly poignant indicator of where the crypto markets are heading.

Facebook makes a better News Feed for slow connections

2018-06-11T17:09:00.003+05:30

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Google to unveil new hardware at Sept. 29 event

2018-06-11T16:55:00.000+05:30

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