The rundown: Bitcoin and all major currencies – except EOS – were down in the morning; Omise Holdings is building a blockchain PayPal-like payment service in Japan and has secured an undisclosed amount of funding; blockchain startup QTUM partners with Amazon Web Services; Japan will simplify the process of its cryptocurrency tax; DMG Blockchain is building a global supply chain management platform for the legal cannabis industry; four Japanese companies want to use blockchain technology with a distributed electricity supply; and more.
Here is what is happening in the cryptocurrency market on Thursday.
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In the News
Financial technology service provider Omise Holdings announced that it has received an undisclosed funding amount. The investment will support the company’s expansion plans in Japan, including the development of a blockchain-powered payment service similar to PayPal and an Ethereum-based decentralized exchange.
Blockchain startup QTUM has formed a partnership with Amazon Web Services (AWS) to establish Blockchain-as-a-Service (BaaS). These services will be focused primarily on creating the bases for enterprise-grade solutions, an identified need within the BaaS model of AWS enterprise customers, QTUM said in a blog post.
Japan is looking to simplify the process of its cryptocurrency tax, according to a report from local newspaper Sankei News. A taxation policy committee, which advises the government on policy, is now discussing ways to improve the procedure of reporting cryptocurrency gains.
Nostrum, a chain of 130 coffee shops in Spain, has started accepting payments in cryptocurrency. The chain has partnered with Cyclebit to allow customers to make payments in Bitcoin.
Blockchain and cryptocurrency firm DMG Blockchain is building a global supply chain management platform with a focus on the legal cannabis industry. Deployment will begin in Canada, and subsequently expand globally, DMG said in a statement, adding that it is currently in discussions with cannabis industry players, including major licensed producers, quality assurance labs, retail distributors, and government regulators.
In Japan, Kansai Electric Power Co., Mitsubishi UFJ Bank, Nihon Unisys, and the University of Tokyo have formed a partnership to use blockchain technology in distributed electricity supply. The partnership is working on a project that allows solar power suppliers to sell excess power to consumers.
Chainalysis said that it completed a global roll-out of its compliance solution with Binance, the world’s largest cryptocurrency exchange by trade volume, to help address the challenges at the intersection of cryptocurrencies, regulators and traditional financial institutions. Chainalysis’ compliance software, Chainalysis KYT, is the only real-time transaction monitoring solution for cryptocurrencies. The software uses pattern recognition, proprietary algorithms and millions of open source references to identify and categorize thousands of cryptocurrency services to raise live alerts on transactions involved in suspicious activity.
Cryptocurrency Prices Today (As of 7:29 AM EST)
Bitcoin (BTC) is down 0.08% over the past 24 hours, trading at $6,553.87.
Ethereum (ETH) is trading at $205.65 in the morning, down 0.51% over a 24-hour period.
EOS is trading at $5.55, up 0.36% over the past 24 hours.
Ripple (XRP) is trading at $0.4729, down 0.21% over a 24-hour period.
Litecoin (LTC) is trading at $53.01, down 0.34% over a 24-hour period.
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