#CryptoCorner: Market Gets Red, Walmart ( $WMT) Applies for #Blockchain-Based Drone Patent, Ripple Invests 1 Billion XRP Into Coil and Mining Ware Company CoinMine Scores $2.5 Million Seed Round
#CryptoCorner: Market Gets Red, Walmart ( $WMT) Applies for #Blockchain-Based
Drone Patent, Ripple Invests 1 Billion XRP Into Coil and Mining Ware Company
CoinMine Scores $2.5 Million Seed Round
Point Roberts, WA, Delta BC August 15, 2019
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August
15
Crypto Corner
Stocks discussed: (NYSE:WMT)
The crypto market
is red this morning folks, with nearly all of the top 100 coins listed by
market cap having lost value in the last 24 hours, according to data from CoinMarketCap. At press time,
Bitcoin (BTC) is trading for
just over $10,000 USD, having dropped as low as roughly $9,650 overnight. This
is minor, however, when compared to leading altcoins Ether (ETH), XRP and Bitcoin Cash (BCH), which all
dropped 9 to 10 percent in the past day. Consequently, despite its own
downtrend, Bitcoin still dominates the market, accounting for over 68 percent
of crypto’s total market capitalization.
What is causing
this downtrend? Dovey Wan, founding partner of crypto asset holding company
Primitive Ventures, tweeted that large scale
sell-offs from a Chinese ponzi scheme called PlusToken could be moving the
needle. Wan claims PlusToken started selling off its crypto in July:
A security audit firm Peckshield has done a graph
analysis of the money flow from PlusToken’s wallet in early July, and figured
out abt total ~1000 has gone into Bitrrex and Huobi. So basically the sells off
has started around early July
She goes on to
tweet:
Chinese traders are saying someone has been dumping
100BTC non-stop on Binance, will post here once I find the chat detail.
Which i suspected related to PlusToken as well
Walmart (NYSE:WMT) has filed a
patent application with the United States Patent & Trademark Office for a
blockchain-based drone communication system called CLONING DRONES USING BLOCKCHAIN. The application
abstract describes the technology:
A method of
drone-drone communications using blockchain includes: determining operational
parameters of a first drone; encrypting the operational parameters of the first
drone; storing the encrypted operational parameters of the first drone in a
block of a blockchain; determining when a second drone is in proximity of the
first drone; retrieving the encrypted operational parameters of the first drone
from the block of the blockchain; decrypting the encrypted operational
parameters of the first drone; retrieving the operational parameters of the
first drone based on the decryption; and configuring the second drone with the
operational parameters of the first drone.
Xpring, Ripple’s
investment subsidiary, has granted 1 billion XRP to micropayments processor
startup Coil, according to a press
release
today. Coil is striving to make monetization easier for content creators in
various types of media. Xpring vice president Ethan Beard wrote in a blog
post:
Partnering with Coil is a natural fit for us not only
because of the team’s DNA — which includes folks like Stefan Thomas who served
at Ripple’s CTO for many years and is a co-creator of ILP [Interledger
Protocol] — but also for its natural alignment with XRP and ILP. The low cost
and fast transactions of XRP makes it an ideal tool for Coil to offer an
alternative monetization method, and to have a positive impact on content
creators.
Elsewhere, CoinDesk reports that
crypto mining hardware and software producer CoinMine scored a $2.5 million
seed round. This comes during “a period of 50 percent growth month over month
since April” and “nearly 10 percent of customers become repeat purchasers”. The
company’s CEO, Farbood Nivi, said:
“This latest round of financing will help us accelerate
our mission of getting more people to experience how easy it is to earn Bitcoin
and other cryptocurrencies.”
Sam Mowers,
Investorideas
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