"Failure will never overtake me if my determination to succeed is strong enough."
- Og Mandino
Happy midweek, CMC fam! The end of June is fast approaching, so let's press on and finish it with a bang! 👊
Today in history (1997), the 1st book in J. K. Rowling's best-selling series Harry Potter, "Harry Potter and the Philosopher's Stone", was published. 🧙♂️
In today's newsletter, we will be covering Walmart China to track its food supply chain via VeChain’s Thor blockchain, Circle's and Coinbase's consortium andSquare launching Bitcoin (BTC) deposits for users of its Cash app.
Please don't forget to answer the polls down below too! It's a great way for us to interact with you all and hear what you have to say. 💭 Happy reading! 📚
Over the last 24 hours, total market capitalization rose again from ~$327 billion to ~$356 billion, with most coins seeing gains in the ~2-7% range. Notable movers of the day include NEO (NEO), Crypto.com (CRO) and Qtum (QTUM), each up ~12.2%, ~25.9% and ~27.4% respectively. 📈
BTC is currently on another tear, and is trading at ~$12,580, up ~11.8% for the day! BTC dominance is currently at ~62%, a level it has not seen since late April 2017! This is indicative that the market is flocking to BTC, currently deemed as the relatively 'safer' asset. The FOMO is strong today, ladies and gents. RSI level on the daily chart is at ~86, well within the 'overbought' region. BTC also continues to be trending above its 21, 50, 100 and 200-day EMA lines. It is also worthy to note that shorts and longs are rising fast.
Walmart China will be tracking food through its supply chain via VeChain’s Thor blockchain, under the Walmart China Blockchain Traceability Platform (WCBTP). The WCBTP will be a joint venture by Walmart China, VeChain, PricewaterhouseCoopers (PwC), cattle company Inner Mongolia Kerchin, and the China Chain-Store & Franchise Association.
Walmart China has already revealed 23 product lines that the system will track and will release another 100 products for further inclusion, which spans across 10 product categories. 😲
Through the system, Walmart will see traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables account for 40% of the total sales of packaged vegetables, and traceable seafood to account for 12.5% of the total sales of seafood by the end of 2020. 🧐
For the greater good 🤝
Circle has partnered with crypto exchange Coinbase to launch a consortium dubbed Centre that will support and develop USD Coin (USDC). The consortium will operate based on a membership-based framework and governance scheme with an overall aim of growing and developing the idea of digital money. 😀
The founders of the consortium seek to build a blockchain-based infrastructure that will enable fiat money to work over the open internet. USDC happens to be its first initiative.
USDC is reportedly 100% backed by United States dollar reserves, and enables customers to tokenize dollars as USDC and redeem USDC for dollars. Therefore, the Centre consortium acts as a watchdog over the institutions issuing USDC to fiat conversions. 🧐
Coinbase and Circle have also both announced that membership in the Centre consortium is open to other entities looking to participate and own the right to issue or redeem USDC. 🗣️
Gateways upon gateways 😬
Payments company Square is launching Bitcoin (BTC) deposits for users of the Cash app. 🙌 Previously, users could only purchase or sell BTC, as well as transfer BTC to another wallet.
Square first began allowing select Cash App users to purchase and sell BTC in November 2017, announcing a few months later that it would introduce a deposit feature to all users. 🗣️
Currently, not every Cash App user had the ability to deposit BTC as the feature has not yet been rolled out to all users.
The number of blocks preceding the block in question on the blockchain, or can be thought of as total blocks in the chain before this point.
Other news 📰
Germany's Christian Democratic Union of Germany (CDU) and Christian Social Union in Bavaria (CSU), both part of the centre-right Christian democratic political alliance, want to integrate blockchain technology into public services. 👍
Bitcoin startup and in-browser app Lolli has partnered with hotels.com to help with their international expansion plans. 🤝
Crypto exchange Kraken has raised ~$13 million in funding via online investment platform BnkToTheFuture. 💰
Crypto calendar 📅
16 May - U.S. SEC's decision on the NYSE Arca and Bitwise Asset Management's Bitcoin ETF application (decision has been delayed)
19 Aug - U.S. SEC's initial decision on the VanEck, SolidX and the Cboe BZX Exchange Bitcoin ETF application
"How much do you agree with this statement: "I am open to purchasing real estate on the blockchain.""
The average vote was a 8.7. Wow, way more than I'd anticipated. 55.3% of y'all voted a '10' too!
"Why or why not?"
I am open as it would serve as proof of ownership almost better than a traditional deed, 'ledgered' for the world to note and beyond refute. I voted 7 though as the whole real estate thing has always seemed unneccesarily complicated to me, and the idea of us mortal creatures 'owning' land is sincerely daft, ha! - Why do we think that anything is truly ours, especially land. Owning land, another man-made construct. And yes, I agree that having it on the ledger makes it more 'legit'. 👍
Cut out all of the unnecessary middlemen, and deal directly with the. Buyer or Seller. - Reduced fees! No more 2-5% commissions! 🙌
Depends on the value. It's not a common way to make a trade, so there may be unexpected legal risks. - Having your ownership be placed on the blockchain actually makes much more sense than a piece of paper. 😀
would be quicker and more efficient than standard practices of using land registry in UK - Yup!
if assets like property are available for registration & freely transferable on blockchain i would registering on blockchain.. - They already are (:
As long as I have certified proof and documentation. Hard copies, et . - You wouldn't even need them.
I listed my mother’s villa in Bali for a BTC sale, much better proposition! - That is awesome!!! So cool. I'll be in Bali soon, hopefully I'll see it. 😂
don,t believe most buyers are ready to use cryto - All in due time.
As an ex Real Estate Broker l can only welcome a crypto-based 21st century solution to the over-complicated closing procedure for property purchase. Title companies should thereby see their workload cut in half.. oh happy days thanks to crypto !! - Woohoo! And this is just one industry. Can you imagine what's gonna happen to others?
only if it's not too complex. - It'll def be less tedious of a process.
I'll wait until all the kinks and loopholes are exposed before I consider doing it myself. I like the concept, I just need to feel confident in the execution. - There are already kinks in the traditional way of doing it, yet we still use it. Think about it. 🤔
One thing that got me into blockchain was use of features like this, a public permanent record of ownership. Value assigned to it. I also think it the part of the blockchain. - Hey me too! The potential is just limitless.
Not only open to it, but I would like to have my current assets placed on block chain. I keep hearing about cyber theft of real estate. - Yeah, I believe that will come too. All in due time.
Why not?😎 - Yeap, why not!
Everyone can become coowner in realestate for small amount of money, great stuff! - This too. It allows for partial ownership that is easily transferrable and tradable. Gonna open up this traditionally illiquid market. 🤑
it is so easy - ez pz. 😊
Thank you all for reading! Catch you back here again tomorrow for your daily dose of crypto news! 💙
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