"Gradually, decentralized trust will be accepted as a new and effective trust model. We have seen this evolution of understanding before – on the Internet."
- Andreas Antonopoulos
Can you hear me now
An oft-used word in crypto is the term "decentralization", bringing to mind peer-to-peer connections and fault-tolerant networks. We explore that with the news today... and in our poll 🖍
Speaking of decentralization, did you know the whole CoinMarketCap team is decentralized? We're spread all around the world and don't have an office anywhere. Yeah, now you can sound all knowledgeable about us at parties 😎
BTC saw a slight recovery in price today, up 1.07% to $6,414.48 and continuing its rebound from yesterday (the screen is green! 💚) However, BTC still remains on a short term downward trajectory as seen from the crossing of the 21-day EMA and 100-day EMA lines, trading below the 50, 100 and 200 MAs.
If BTC tests the $6,000 support level soon and breaks below it, we would be in a serious bear 🐻 outlook. Let's look at the broader picture though: It seems that the sell-side action is slowing down and building a base for a more mature market. Historically, BTC has tested and been able to hold the $6,000 support level (Feb, May) indicating that many are buying in at that price 💸
Knowledge for the masses
Everipedia, the decentralized digital encyclopedia, is now live on its mainnet. The censorship-free Everipedia allows users to earn its native tokens, IQ, through contributions to the site. Unlike Wikipedia which subsists on donations, Everipedia will be able to run without the need for donations or running ads.
These IQ tokens can then be used to participate in and vote on network governance issues. It's also interesting that Everipedia’s Chief Information Officer (CIO) is the co-founder of Wikipedia, Larry Sanger – he's sold on the decentralization evolution too 😉
Trade safu-ly on your own terms
Earlier today, CZ, Binance CEO showcased the first pre-alpha demo of the Binance Decentralized Exchange (DEX). He highlighted the basic code functionalities of the DEX, such as the issuing, listing and trading of token processes.
He also adds that although the product “is still in very much in early-stage development”, that progress made by the team thus far is 1-2 months ahead of schedule 🗓 and is already at a major milestone in terms of DEX development.
Direct trading connections
Decentralization provides infrastructure that enables trading counterparties to connect and exchange assets directly on-chain, without the help of centralized middlemen that brokers trades and withholds funds. This eliminate the custodian risk that has lost many people large amounts of money in the past; like Mt.Gox – we all know how THAT ship sank 🌊🚢
IBM and Maersk joined forces on a global trade blockchain platform, TradeLens. The technology and smart contracts will incorporate IoT and sensor data such as temperature control and container weight.
To date, TradeLens has already recruited 94 firms and has already captured more than 154 million events combined 😮 Notable names include Singapore’s Pacific International Lines (PIL) that has over 18,000 employees and one of the world’s largest container carriers, Germany’s Hamburg Süd. TradeLens also has customs authorities in the Netherlands, Saudi Arabia, Singapore, Australia and Peru participating.
... and then there's 💩ing
I 💩 you not! TRON has partnered with a smart toilet supplier from China, Moshroom. Justin Sun, TRON CEO, took to Twitter to mention that “the two partners will work on blockchain technologies, especially cross-border settlement with cryptocurrencies.” TRON barely budged in price all day, up just 0.46% to $0.024720. Hey, look on the bright side – there wasn't a dump! 😝
Brave browser now allows you to tip peer-to-peer on Twitter and Reddit using its token, BAT.
You can now complete Litecoin transactions over Telegram, powered by Zulu Republic.
Overstock scales its market cap charts after GSR Capital invested $270 million, the largest single investment in a blockchain platform, in tZERO.
Commonwealth Bank of Australia has been mandated by the World Bank to issue bonds on a blockchain, delivering the world's first blockchain bond.
Shinhan Bank, the second largest bank in Korea, has partnered KT, the second-largest telco in Korea, to develop a new blockchain-based platform for financial activities such as wire and forex transfers.
Poll of the Day
To what extent do you agree that decentralized exchanges will be the future? 🤔
Will there always be centralized exchanges? Will decentralized exchanges be the future what we will get used to for trading crypto? Tell me what you think!
What you said
How much you guys think governments understand crypto: 4.3 😆 Malta was listed as the most progressive, followed by Japan, Korea, Singapore and Thailand. Sorry, I think I skewed it by not listing Switzerland – it slipped my mind momentarily then!
I asked how you thought we could educate more officials and constituents about crypto. Conferences, seminars, webinars, talk shows/talkfests, and free workshops by reliable sources or crypto experts were all popular choices, inviting politicians and government officials to view them. Some of you thought we should more actively get involved with grassroots and MPs/senators.
There were suggestions for useful and peaceful (lol) projects that are applicable to governments, such as tax paying, to be implemented 😂 The idea is to showcase a variety of use cases such as healthcare and education.
Of course, when more people talk about crypto, governments will pick up on the big trends in their countries; this, coupled with more mainstream media publicity, they will get more involved and educated.
And the last solution: Give them some. 😆
Whatever it is, we're with you – We really want crypto succeed too 😃 Anyone wants a CMC crypto seminar for governments around the world? Heh.
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