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Mastercard eyes Blockchain technology

Summary:

  • Chilean cryptocurrency exchanges sued the recently imposed banking embargo

  • Bitcoin (BITCOIN on xStation5) moved back above the $8000 handle

  • Mastercards began integrating Blockchain technology into its systems

Over the weekend the cryptocurrency market saw a surge in the valuations of many coins. The famous Bitcoin managed to climb back above $8000 mark moving as high as to the vicinity of $8400 handle on Sunday. On the other hand Ripple managed to test resistance level at $0.7 just to fall back to $0.62 afterwards. We will start with news from Lithuania as the country’s central bank decide to initiated roundtable talks concerning the cryptocurrency sphere. Apart from that we will pay some attention to Mastercard as it is said to integrate Blockchain technology into its systems.

According to the newest reports the Bank of Lithuania began to pay closer attention to the digital currencies. The newest developments say that central bankers invited representatives of the government, banking sector and the county’s crypto community to roundtable talks. Among representatives one can find people from the Financial Ministry or the Financial Crime Investigation Service, Lithuania’s watchdog. The meeting will be a chance for the Lithuania central bank to get to know the opinions on the Blockchain from the people familiar with the matter as the country is one its way to become “European fintech hub”.

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BITCOIN price reversed towards $8060 support level after surging to $8400 over the weekend. In case the downward pressure prevail solid support can be found around the $7800 handle as it is underpinned by the 33-period moving average. Source: xStation5

After several Chilean banks, including some state-owned lenders, decided to cease its operations with the cryptocurrency exchanges country’s major digital bourses decided to file a suit against them. The exchanges’ representatives claim that the banking embargo is “killing an entire industry” and that is why they decided to appeal to the Court of Defense of Free Competition. Moreover, the exchanges state that the embargo will turn negative for the customers as it will force them to trade digital coins on the less overseen OTC market via person-to-person transactions.

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RIPPLE failed to hold its gains after surging to the $0.7 ahead of the weekend. The coin may have formed the double top pattern (around $0.69 mark) thus investors may want to stay cautious as deeper pullback can be in play. Source: xStation5

On top of that, we have got some positive news coming from the Mastercard concerning introduction of the Blockchain technology. The company’s patent filing suggests that the firm is looking into integrating Blockchain into its payments systems. The company stated that it is looking forward to using blockchain technology in order to limit the usage of the fake identity while conducting payments. The blockchain would allow to store data on the separate “semi-private or private” blockchain that would help to organize identities depending on their “geographic jurisdiction”.

 

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