#CryptoCorner: #Bitcoin Highest Since Crash as Halving Approaches, NY Hospitals Join IBM (NYSE: $IBM) #Blockchain-Powered Rapid Supplier Connect
Point Roberts, WA, Delta BC April 27, 2020
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Stocks discussed: (NYSE:IBM)
As we enter a new
week, Bitcoin (BTC) has emerged from the weekend having built
upon gains made late last week amid a crypto market that is currently a mix of
red and green, according to data from CoinMarketCap.
Trading for around $7,720 at press time, Bitcoin is at its highest since March
12, when it crashed thousands of dollars to around $4,000 alongside traditional
markets. An article from CoinDesk chalks this recent rally up to, in
part, anticipation for Bitcoin’s halving, which will occur on May 12. Jehan
Chu, co-founder and managing partner at blockchain investment and trading firm
Keneti Capital, told the publication:
“The rally is being sustained by the rapidly
approaching halving. Look for prices to attempt the $10,000 level on
speculative buzz leading into the halving.”
Blockchain payments
service provider BitPay and crypto exchange giant Binance have partnered to drive adoption of the latter’s
BUSD stablecoin. This will see BitPay “enable all of its merchants around the
world to accept BUSD as a form of payment online and in its cross border
business to business billing platform without additional integration.” Stephen
Pair, CEO of BitPay, explained:
“The partnership with Binance is about more than
supporting another stablecoin, it is about making cross border payments simple
and easy for both businesses by leveraging the global influence of Binance
Exchange. With BUSD, BitPay expands blockchain payment choices for all our
customers across the global payments space who want the flexibility of paying
on the blockchain with the stability of the US dollar.”
Binance has also launched the "Binance Pool", a
crypto mining pool today, which offers “Proof of Work (PoW) and Proof of Stake
(PoS) services for a variety of coins and tokens.” In an interview with Cointelegraph, the head of Binance Pool Lisa
He said:
“We aim to establish a comprehensive platform for
miners that will bring more possibilities to the mining industry by bridging
traditional mining to financial services.”
Forbes reports that a New York-based
healthcare group, Northwell Health, which is composed of more than 800
hospitals, has joined IBM’s (NYSE:IBM) blockchain-powered Rapid Supplier
Connect network to purchase from new suppliers for COVID-19 relief. According
to the article, IBM launched Rapid Supplier Connect “to link buyers to new
suppliers, who have changed their manufacturing process to medical equipment,”
and it is part of the company’s “existing Trust Your Supplier Blockchain
Network.” Phyllis McCready, Vice President and Chief Procurement Officer at
Northwell Health, told Forbes:
"Northwell Health has had adequate supplies to
protect patients and our staff during the increase in New York COVID-19 patient
cases. It is through creating our own group purchasing organizations (GPOs) and
supply chain, and joining forces with non-traditional suppliers that we have
maintained an adequate stockpile of personal protection equipment (PPE) and
other equipment and supplies, so we are pleased to join IBM Rapid Supplier
Connect."
Sam
Mowers, Investorideas
For investors following the sector Investor Ideas has a
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