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Tao Zhang, the Deputy Managing Director of the International Monetary Fund (IMF), has voiced his perspective on a central bank digital currency (CBDC). Zhang spoke about CBDC after assessing its merits and demerits during a keynote speech at the London School of Economics. Benefits and Demerits The deputy managing director's major highlight of the CBDC's benefits was its efficiency and lower costs. Several nations experience high costs of currency management with lower access to payment systems in rural and poor…

The BTC prices have experienced an upside correction during the past week after forming a decent support base over $4,000. The correction earmarked a price gain momentum above the $4,500 mark trading at above the $5,000 level of resistance. The coin experienced a break above the initial $5,500 resistance, causing a surge above the $6,000 mark. The price surge however hit a snug at the $7,000 resistance level and the 4 hours 100 simple moving average. A new weekly high…

A smart city goes by many definitions, but its foundation lies in the established relationship and cooperation between its public and private sectors, essential for every aspect of development.   Such include physical and digital infrastructure, data access and management, trade relations, utility services management, public relations, and emergency response and disaster mitigation procedures. The concept of smart cities started with the advent of the Internet of Things (IoT), which integrates different technologies by bringing resources together to create an inclusive,…

In a measure aimed at boosting efforts to combat the Corona Pandemic, a Public Health Blockchain Consortium (PHBC) has recently announced the development of a new blockchain platform. TheVirusBlockchain.com will help to track COVID-19 free communities. Better Lives Globally The PHBC consortium brings together health authorities, universities, health care providers and innovators. They aim at collecting, safely storing, and analyzing anonymous health data on the blockchain. Their objective is the eradication of diseases and bettering lives globally. Besides tracking COVID-19…

Ethereum mining pools have removed thousands of mining platforms from the networks, reports from  March 20, 2020 indicate. The move aims at providing computational power to a coronavirus research project. Leading the initiative is CoreWeave, a U.S based miner operating on the ETH blockchain. The firm said that it would redirect its GPU computing power to Stanford University’s Folding@home. The project was launched on February 27, 2020, to advance research on the deadly Coronavirus. In a blog post, Folding@home  explained:…

87 crypto pairs trading on the Bitfinex exchange are staring at the chop. The exchange outlined plans to delist them owing to their low liquidity levels. The move is effective March 26, 10:00 AM UTC Optimizing Trading Experiences According to Bitfinex, the decision was informed by the need to consolidate and improve the exchange's liquidity. Additionally, the move will streamline and optimize trading experiences for its customers. The firm holds that it took the decision after tracking the affected pairs…

Crypto stablecoins present an efficient and easy way of managing crypto volatility. Volatility in the crypto market is often regarded as the boon and bane of crypto trading. While on the one hand, it allows traders to accumulate substantial profits, it can cause significant losses to crypto traders or even lead to missing a perfect opportunity to trade. Stablecoins function to cushion investors from intense volatility witnessed in the crypto market by providing a less volatile means to employ in…

The prospects seem brighter for a majority of coins, including Bitcoin (BTC). At the moment BTC is trading above the $6k level. The digital currency's price has been climbing from yesterday. So significant was the leap that by the time of going to press it had hit the $6,634 mark. This is according to data from CoinMarketCap.  Analysts have been chiming in with their reasons for being bullish about the digital currency. Hunter Horsely, The CEO of Bitwise Asset Management,…

Huobi DM, the futures trading platform of Huobi exchange has recently announced the launch of a new liquidation mechanism to systematically minimize user exposure should prices become too volatile. The platform is introducing these new measures to provide users with a safe, secure and reliable trading experience. In order to help users hedge against liquidation risks, the derivatives platform now provides partial liquidation. This new mechanism gradually reduces a user’s positions, instead of fully liquidating them in a single event.…