Cryptocurrencies 2016: Bitcoin Alternative charts
Today we want to talk about Cryptocurrencies 2016, as the just ended year has been very exciting for several digital currencies and not only for Bitcoin.
A lot of major open-source currencies, in fact, showed a good growth during 2016 and we hope to see significant expansion in 2017.
Below you’ll read charts of the excited cryptocurrencies 2016, during a period between December 27, 2015 to December 26, 2016.
Source: Coindesk.com
Bitcoin
Market Capitalization (Beginning of Year): $6,161,215,794
Market Capitalization (End of Year): $14,590,356,108
Price (Beginning of Year): $411.99
Price (End of Year): $908.17
Price (Annual High): $909.94
For sure Bitcoin is the king of cryptocurrencies 2016, if we talk about value.
It is the oldest blockchain-based asset as today (January 3rd) it celebrates its 8th anniversary: the genesis block was generated on January 3rd 2009.
While I’m writing of this article, Bitcoin price is still growing, surpassing the value of $1,000 for 1 BTC.
Bitcoin price and trading volume were supported by several global circumstances, including the Chinese yuan devaluation, the UK’s Brexit, and the election of a Donald Trump.
Ethereum
Market Capitalization (Beginning of Year): $80,339,474
Market Capitalization (End of Year): $638,041,577
Price (Beginning of Year): $2.83
Price (End of Year): $7.31
Price (Annual High): $19.59
2016 saw Ether, or the digital currencies that powers the Ethereum blockchain – become the best-performing currencies, with a more than 2,000% increase over the first six months of 2016.
The major reason for its instability was the DAO hack, the subsequent failure of the decentralized project, and the creation of ethereum classic. These factors led to a fall of nearly 50% of this altcoin value.
Anyway, Ethereum is the favorite network for possible FinTech permissioned distributed ledgers, enterprise software and Internet of Things applications, so 2017 could will probably show a capitalization increase for ether.
Litecoin
Market Capitalization (Beginning of Year): $149,142,004
Market Capitalization (End of Year): $212,469,870
Price (Beginning of Year): $3.41
Price (End of Year): $4.34
Price (Annual High): $5.55
One of the oldest bitcoin alternative, litecoin showed a stable valuation during 2016, closing $2 above its starting price for the year.
Dash
Market Capitalization (Beginning of Year): $16,081.586
Market Capitalization (End of Year): $70,675,107
Price (Beginning of Year): $2.64
Price (End of Year): $9.67
Price (Annual High): $14.42
In 2015, darkcoin decided to end its association with shadow businesses and the DarkNet by changing its name to Dash.
This re-branding seemed to work and Dash ended 2016 with pricing nearly three times, and a market capitalization close to four times.
Cryptocurrencies 2016 and their future
As we enter 2017, the future for cryptocurrencies seems bright, as the digital currency market will continue to progress and prove its worth as one of the top-performing commodities available today.
We at HolyTransaction are very happy to work with this top-rated cryptocurrencies, as our wallet can store Litecoin, Dash, Ethereum and Bitcoin within a unique login.
Needless to say, we are proud to have chosen the best and the most profitable cryptocurrencies for our multicurrency wallet you can open here for free.
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Bitcoin in 2016: top news about the Blockchain
As the New Year’s Eve is coming, we decided to share with you the best moments of this year with an article about Bitcoin in 2016.
Involved in the best news about the distributed ledger technology, there are not only financial institutions and bank, but specially well-known companies related to countless sectors.
And his proves how the blockchain could be useful for a lots of use cases.
Microsoft and Bitcoin
For example, in 2016 Microsoft announced its involvement in blockchain projects related to security, identity management, and a tool for developers called Microsoft BaaS.
Also, the worldwide company decided to accept Bitcoin among its available methods of payment on its online shop.
IBM and Watson
IBM was another company who dedicated much effort in blockchain research and projects.
Earlier this year, IBM revealed its new blockchain cloud service for helping companies in developing and testing the distributed ledger.
Also, it announced its revolutionary project called Watson, that together with the distributed ledger are “two technologies that will rapidly change the way we live and work, and our clients in Asia Pacific are eager to lead the way in envisioning and creating that future,” explained Randy Walker, CEO at IBM for the Asian area.
Bitcoin in 2016: annual price high
Bitcoin in 2016 also reached its annual high; and as the year comes to the end, its price continues to test the $1,000 mark and it seeks to set a new three-year high.
HolyTransaction in News
You might now that our company had to face some issues earlier this year, but now we are strong than ever and we’re very happy to having developed a new virtual exchange platform called HolyTransaction Funding.
Thanks to this exchange you can buy and sell bitcoin worldwide with no registration required. This means you can instantly convert your digital currency into fiat currencies and vice versa, without sharing your personal data.
On HolyTransaction Trade you can also create a Bitcoin Virtual Credit Card to buy everything you want online.
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Real Estate Blockchain: houses on the ledger
The real estate blockchain is one of the most imporant use case for the distributed ledger as it is a secure and efficient data management system that enable buyers to rely on a live network.
The California-based Blockchain startup called Propy aims at simplifying real estate sales for investors and brokers by using the ledger.
At the moment Propy is available in Dubai, New York, San Francisco, Los Angeles, Miami and Moscow, so users can buy and rent houses creating a connection with the real estate broker on a blockchain platform.
Ethereum network
Propy exploits the Ethereum network, the blockchain network based on smart contract development.
Using Ethereum Propy can replicate the traditional process of real estate transactions by using a safer ledger.
The development team of Propy spent lots of time and effort in designing a smart contract project to be applied on this business.
Real estate Blockchain: how to use smart contract
Propy’s Andrey Zamovsky explained that the world lacks of “proper and robust electronic property registry”.
Some countries that have a digitalized registry to delete data manipulation issues, so Zamovsky said that a blockchain-based platform can be a very useful tool to eliminate corruption. Also, the lack of sophisticated and secure ledger makes the verification process more difficult for brokers.
To avoid this potential issues on data mismanagement, government agencies often take a few weeks to verify ownership transfers, but this is inefficient and expensive method for customers.
Zamovsky explained:
“A lot of developing countries still don’t have any kind of electronic property registry or have very inefficient ones – vulnerable to corruption, physical damage, hack attacks and fraud. The Blockchain database is replicated on thousands of servers worldwide, so it will be close to impossible to lose registry data.”
To read more about real estate blockchain, click here.
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Dubai Blockchain to solve Immigration issues
Dubai Blockchain will try to solve immigration issues, developing a system for cutting illegal residency within the country.
To do so, Dubai immigration agency is looking for a blockchain startup to collaborate for this project.
The Dubai Future Accelerator and the General Directorate of Residency and Foreign Affairs published a call for blockchain startups to develop the immigration platform.
This way, the immigration agency hopes to reduce illegal resident entry by 50% using the distributed ledger, according to a press release published a few days ago on December 22nd.
Other public institutions in Dubai want to use the blockchain technology as part of their accelerator program and there are a few opened calls about blockchain’s publicized use cases.
For example, the Department of Economic Development is looking for using automated systems to cut governmental red tape by 20%, reducing time for receiving, renewing and modifying trade licenses.
Also, the Dubai Health Authority is working to improve patient self-management of health data, as explained during a recent Distributed Health event.
Dubai Blockchain for a better future
The Dubai Future Accelerator will take no equity from startups that participate. Also, it provides flights, accommodation and office space for a program of 9 weeks where selected companies will be able to test prototypes with the major Dubai companies and government institutions.
Saif Al-Aleeli, CEO of the Dubai Future Foundation, explained in the press release:
“By bringing innovative global startups together with government entities in Dubai, the program offers them the potential to materialize their ideas and projects in a forward-thinking city, and play their part in building a better future today,”
To read more about Dubai Blockchain project, click here.
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BNP Paribas Blockchain used for live transactions
A well-known worldwide seller and another important firm partecipated to the first live transactions using the BNP Paribas Blockchain service, as revealed today by the bank itself.
According to BNP Paribas, in fact, payments were processed between the Italian sports collectible firms Panini Group and the Australian packaging firm called Amcor.
The payment transactions were managed in a few minutes – the bank explained in the official press release – using different currencies to make transactions easier between bank accounts located in Germany, Netherlands and England.
Panini Group treasurer Fabrizio Masinelli commented in a statement:
“This proof-of-concept shows how powerful such technology can be and how it can be utilised as an effective and efficient response to the main issues that treasurers face on a daily basis.”
BNP Paribas Blockchain Proof of Concept
The transactions were managed by using the proof of concept called Cash Without Borders launched earlier this year after its incubation during a blockchain hackathon.
More Details about the size of the transactions will be revealed in the next future.
Also, the BNP Paribas blockchain service tested the so-called “mini-bonds” for small investments, as well as blockchain crowdfunding prototypes that might see the light next year.
According to the Panini Group’s official website, the company earned 751m euros in 2014 and employs 1,000 people worldwide.
Also, during the same year, Amcor earned $10b in sales and employs 29,000 employees.
To read more about the BNP Paribas Blockchain service click here.
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France Bitcoin Tests by the Central Bank
France Bitcoin tests have been revealed by the French Central Bank last week.
The Banque de France published a press release on Friday where it talks about its technology tests for use in the management of SEPA Credit Identifiers.
According to the French central bank, one of the key participants in this project is the Caisse des Dépôts et Consignations, and the Paris-based startup called Labo Blockchain.
The project began in July 2016 and culminated in October with the creation of prototypes for creating and managing SEPA Credit Identifiers.
The central bank also explained how meetings were held with stakeholders as the project moved forward, indicating that more details about the project will be revealed in 2017.
France Bitcoin project and more central bank efforts
This is not the first time a central bank test the distributed ledger.
A few months ago, in fact, central banks in Japan, Sweden and Singapore launched similar projects.
Also, earlier this month, the US Federal Reserve published its first major research paper on the ledger you can read here.
Credits: Coindesk.com
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Japanese Blockchain Consortium is growing fast
A Japanese blockchain consortium grew very fast and now it includes more than 1 hundred members.
Membership of this Blockchain Collaborative Consortium (BCCC) grew since its creation back in April 2016.
BCCC memberhip includes Japan Microsoft, Infoteria, Mitsui Sumotomo Insurance, PwC, Bitbank, ConsenSys and more.
Also, the Japanese Blockchain Consortium announced that the 100th student from its Blockchain University program had successfully graduated – signal that the BCC’s plan to improve knowledge about the distributed ledger is succeeding.
In a blog post revealed today, the founder and CEO of Infoteria, Pina Hirano, explained that the Japanese Blockchain University is the only one of its kind within the country. He said:
“While the world related to FinTech and block chains is moving at a rapid pace, BCCC will add new members’ power and make activities more active so that domestic movements will not be delayed.”
Hirano suggested the total Japanese Blockchain consortium members are 109, but at the moment the BCCC website only lists 101, so maybe more members will be announced in the near future.
Japanese blockchain growth
During the last few months Japan has been characterized by its interest and study of the blockchain.
In November Ripple launched its own blockchain consortium with more than 40 banks with the goal of building a network to conduct cross-border payments.
Also, in December the Mizuho Financial Group, Inc., Sumitomo Mitsui Banking Corporation and other banks helped Deloitte Japan for a blockchain test and research about inter-bank payments.
Despite the test, Japan faced a shortage of blockchain developers, as reported by Reuters.
To solve this problem within the country, the BCCC graduated two classes of students with 8 courses each, including “practical training”, “foundation of blockchain technology” with lessons about the bitcoin blockchain. More classes will be added next month, but unfortunately this consotium blockchain class is only conducted in Japanese language.
To read more about Japan plans related to the blockchain, click here.
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Denmark Bitcoin: Digitalizing National Currency
Today I want to talk about the Denmark Bitcoin position and regulation.
Denmark is a place where its citizens relie on cash less than most other European countries, so it is thinking about digitalizing its national currency.
To do so, the Danish central bank wants to release its own digital currency based on a blockchain and it will be called e-krone.
Governor of the Danish central bank, Lars Rohde. commented that the government doesn’t want to print its own fiat currency in the future.
So Rohde is looking for outsourcing the production of Danish krone and wants to replace it with its independent financial system based on the distributed ledger technology: the e-krone.
In an interview conducted by Bloomberg, Rohde explained that the Danish central bank effort is not related to the blockchain technology or alternative fintech technologies:
“We’re not preoccupied with the technology because we know that issue well. Cash and notes are not an alternative to electronic payments. We went beyond that many years ago.”
Also, the most important problem the central bank is worried about is the anonymity of the e-krone.
At the moment, the Danish bank believes that the e-krone will have a serial number embedded onto its Blockchain, so the government will be able to track the currency thanks to a transparent ledger.
However, another issue about the anonymity of a currency are the predictable complaints by the Danish citizens who expect to be provided with financial freedom and privacy.
“All money held by Danes will eventually end up in the central bank in the event of a financial crisis, and we will indirectly end up doing a bailout because we become a creditor to all the banks.”
But the distributed ledger tech is not applicable to the concept of the Danish central bank, as structurally it cannot be established for the central bank as network moderator.
To read more news about Denmark Bitcoin position, click here.
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Korean Blockchain Consortium ft. 27 firms
A new Korean Blockchain Consortium has been created by 27 firms and startups with the goal of developing tools to manage trade financial processes.
This Korean Blockchain Consortium is composed with both major companies of the financial sector and technology startups.
According to The Loop startup the Korean Blockchain Consortium was born for this reason:
“Beyond providing the blockchain-based authentication and information sharing system, we collaborate with other technology providers on developing a prototype for financial services in areas of securities trade and post trade, the prototype that is to reduce the cost and operational risk in trade finance and ultimately improve trade efficiency”.
The Korean Blockchain Consortium includes Daishin Securities, Dongbu Securities, Yualta Securities Korea and Kiwoom Securities.
Some of these members have already worked in the blockchain field with regional startups.
The blockchain project was organized by the Korea Financial Investment Association, or an industry trade group based in South Korea.
This is the second blockchain-related project born in Korea and its creation last week comes after another news about the formation of a consortium spearheaded by the South Korean government.
Also, in October the East Asian government started to create its public-private consortium supported by the most important banks in South Korea and their major regulator, or the Financial Services Commission (FSC).
“With the creation of the consortium, momentum is expected to start for spreahading the development of technology and service in the blockchain field, rather than passively following the footsteps of advanced nations,” explained Kim Yong-beom, chairman at Financial Services Commission.
The government consortium aims at creating a new task force to regulate the technology in the banking sector.
To read more news related to the Korea effort in the Blockchain sector, click here.
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Japan Bitcoin Regulation for 2017
Japan Bitcoin Regulation
Japan Bitcoin Regulation will take place in 2017 and it wants to drop an 8% sales tax on Bitcoin purchases.
This move will take effect in July 2017, according to a document published by CoinDesk.
Although the proposal has yet to be approved by senior Japanese government, an annual tax document written by the ruling Liberal Democratic Party and the Komeito party was revealed today. Thanks to this document now we know more details on the proposal suggested back in October by the Ministry of Finance and the Financial Services Agency.
The tax remains in place today.
If approved by the Cabinet, the plan will institute a period of grace in June 2017, with the tax exemption becoming official the following month.
The document just released is the result of discussions among government stakeholders first reported by the regional news service called Nikkei.
Local startups have already responded positively to this Japan Bitcoin regulation.
CEO of exchange service Quoine, Mike Kayamori, commented that the plan to drop the sales tax was expected, but it represents a good message to the cryptocurrency community.
Kayamori explained to CoinDesk:
“It’s a huge relief for us. Customers don’t have to pay tax for each transaction. Hope this becomes standard practice.”
This move follows a very busy year for Japan on the exchange front, as the government decided to request registration for all the companies that handle bitcoin sales within the Japanese country.
Discussions around exchange regulation began last year when government ministers tried to obtain information from exchange services.
Also, a deliberations took place last year because of the collapse of Mt Gox, a bitcoin exchange imploded in 2014, causing hundreds of millions of dollars lost by the exchange users.
Document originally shared by CoinDesk.com on Scribd. Unfortunately it is available only in Japanese language.
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