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Ford and LG to Use IBM’s Hyperledger Fabric Blockchain to Track Supply Chains to End Child Labor

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IBM will be working in order to improve the supply chain in the metals industry using the Hyperledger Fabric as a blockchain platform. The intention is to track cobalt that is mined in the Democratic Republic of Congo until it reaches a car maker plant. Another project will also be tracking metals from Mexico until they reach the Ford Motor Company plant.

The first project will start with a 1.5 ton of cobalt that will be mined in the Democratic Republic of Congo. After it, it will be transported to China, where it will be refined. In Korea, it will be used to create a battery and it will be used in the United States as a battery for an electric car. However, everything will be tracked using IBM’s blockchain.

With this pilot, each company will be checking that the material has been treated with the standards followed by the Organization for Economic Cooperation and Development (OECD). The information was shared by IBM’s general manager for global industrial products, Manish Chawla.

On the matter, Chawla commented:

“Blockchain is the most effective technology to provide real-time access to all the due diligence processes, provide visibility to the supply chain from the miners to the market. Our role in IBM is that we are bringing people together for this project and developing the platform.”

Although the intention is to improve the supply chain and have better control over the products handled there is still going to be needed human intervention. There will be inspectors controlling that the mines work properly and following international standards.

Currently, if there are workers that are working in bad conditions, the employee will be recording this on the system and the RCS Global headquarters will be alerted. In this way, they can inform the mine that the batch that they will deliver does not meet the international guidelines.

If everything goes as expected, the employee will just print a code bar that allows other companies and parties in the supply chain to confirm that this batch was mined according to international regulations.

Using blockchain technology the process will be easier. The initial monitoring will take place at the mining site. RCS employees will not have to be there full-time. Instead, everything will be auditing information provided by the management of the mine. Barcode tags will be used for assets on the blockchain and audits and other reports will be stored using an IBM server.

Each of the participants will be working as validators having their own nodes. As more companies join this pilot and program, the will have the possibility to have their node supported by IBM.

At the same time, using Hyperledger technology, customers will be able to protect their information. Companies will be able to share the information they have with third-party partners such as NGOs. In the future, and if the project succeeds, other companies could join such as automakers or electronics manufacturers.

IBM is also working with other companies such as the Canadian startup called MIneHUb Technologies, Goldcorp, Wheaton Precios Metals and many others, including ING Bank.

Back in 2018, IBM and other mining companies and refiners started to work together to leverage blockchain technology and improve the mining industry in different countries in Africa.

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Bitcoin [BTC] and other cryptocurrencies can be exchanged for ETFs and stocks, says Abra CEO

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Bill Barhydt, CEO and Founder of Abra – a leading fintech firm in the cryptocurrency space, spoke about a range of services offered by the platform, in an interview with Nugget’s News.

The discussion started with Barhydt talking about why he started Abra. He stated that it was because he wanted to “build an effectively new type of banking system,” adding that it was to replace traditional banking services with cryptocurrency-based services. The CEO stated that this could include investing, transferring money, and accessing credit. He also added that he wanted to create a “Whatsapp” for money.

This was followed by Barhydt stating that every country across the globe had its own dedicated mobile money system, such as Paytm in India, Venmo in the U.S, and WePay in China. However, there was no app that enabled its users to make cross-border money transfers. He went on to state,“[…] because they only work in one country by definition […] so one app that could work in every country could start to solve things like cross-border money transfer, cross-border payments, investing in Western assets in the east, and eastern assets in the West. so this is basically what we’ve built with the Abra service […]”

During the interview, the CEO was asked whether Abra’s focus was more on STOs, equities, and ETFs. To this, he stated that the platform was not providing any services related to STOs yet, adding that the market for those types of tokens wasn’t established as of now. He said that Abra currently supports 50 different fiat currencies and 30 cryptocurrencies that include Bitcoin [BTC], Litecoin [LTC], Ether [ETH], and Bitcoin Cash [BCH]. He added,

“[…] investment exposure via our smart contract model, so that you can invest in all 80 assets both crypto and fiat and move between them. We just announced that we’re adding US stocks and ETFs to that mix so they’ll be about 50 stocks and about 50 ETFs and you can literally exchange between any of the cryptos […]”

The CEO further added,“[…] and any of the stocks any of the fiat currencies and any of the ETFs so for example you can hold Australian dollars and buy Microsoft you can sell your Microsoft and exchange it for Litecoin and any combination of those across the entire portfolio […] our mission is to democratize access to financial services globally and this is a big step towards making that that vision a reality […]”

Source. ambcrypto

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Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls drag BTC from bear’s trap; fail to save LTC

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The cryptocurrency market was painted red on April 25 as most major coins fell. Bitcoin, the world’s largest cryptocurrency, also fell by 2.83% over the day, along with Litecoin [LTC], which reported a fall of 1.25% over the day.

At press time, BTC noted a fall of 0.39% over the hour and was valued at $5,433.19 with a market cap of $95.97 billion. The coin fell by 2.82% over the past day and noted a minimal growth of 2.90% over the past seven days. The 24-hour trading volume for BTC was observed to be $16.11 billion.

Source: Trading view

Source: TradingView

Resistance- $5,532.75

Support 2- $3,851.02

Bollinger Bands noted a bullish trend as the moving average line was under the candlesticks. The bands appeared to be converging, indicating reduced market volatility.

Awesome Oscillator indicated strong bearish momentum.

Chaikin Money Flow pointed towards a bullish market as the marker was above zero. However, it appeared to be approaching the mark, with a change in trend imminent.

Litecoin [LTC] one day chart

At press time, LTC fell by 1.25% over the past day and was valued at $72.54 with a market cap of $4.46 billion. The coin fell by 0.77% over the past hour and by 10.20% over the past seven days. The 24-hour trading volume was observed to be $3.13 billion.

Source: Trading view

Source: TradingView

Resistance- $93.131

Support- $59.488

Parabolic SAR indicated a bearish market as the dotted markers aligned above the candlesticks.

MACD line was under the signal line, pointing towards a bearish market.

Relative Strength Index indicated that the buying and selling pressure evened each other out.

According to BTC’s long-term chart, a bullish market was predicted. However, the CMF suggested that a trend reversal may be underway. LTC pointed towards a bearish market.

Source. ambcrypto

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Bitcoin Price Analysis April 25: Critical Decision Point For BTC – a Double Top or Hold Support?

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Since our previous BTC price analysis, and following the trend, the Bitcoin breakout had reached a daily high of $5627 on Bitstamp. This is still not our expected target (around $5700 – $5800), however, this is crypto and anything can change anytime.

Since yesterday, the crypto markets are suffering from severe declines: Both in Bitcoin and especially among the altcoins. This includes Ripple that keeps decreasing against Bitcoin since 2019 had begun.

A quick overview to keep things simple: the hourly and the 4-hours chart reveal a double top in Bitcoin around $5625. This setting is a bearish formation. From the other side, Bitcoin is still getting support from the mid-term trend-line on the 4-hour chart, along with the stiff resistance turned support area at $5300 – $5350.

Total Market Cap: $176 Billion

Bitcoin Market Cap: $96.3 Billion

BTC Dominance: 54.6%

Looking at the 1-day & 4-hour charts

– Support/Resistance:
As mentioned above, Bitcoin is very close to the ascending trend-line marked in orange on the 4-hour chart, along with the $5400 support area. This trend-line is holding nicely for the past ten days. The next critical support level is the resistance turned support $5300 – $5350 zone. Below lie the $5200, $5100 and $5000 support levels.

From above, after failing to break-out the previous high at $5625, Bitcoin marked $5500 as the closest resistance level. Above, lies the mentioned $5600 – $5625 resistance, before reaching to the major area of $5700 – $5800, which held the 2018 bear market as last support level throughout 2018. In case of a break-up, the $6000 level is not expected to be easier to overcome.

– Trading Volume: looking on the 4-hour chart, we see that the sellers’ candles (in red) are decreasing over the past two days. This could turn bullish, combined with the Stochastic RSI oscillator which is deep in the oversold area.

– Daily chart’s RSI: The RSI level had dumped down to 68, which is considered a support range. It will be interesting to see if it can find the necessary support here.

– BitFinex open short positions: the number of short positions continues growing up over the past days, and currently stands at 25.7K BTC open short positions.

BTC/USD BitStamp 4-Hour Chart

btc_apr25_4h-min

BTC/USD BitStamp 1-Day Chart

btc_apr25_d2-min

Source:cryptopotato

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