Blockchain still far from maturity,‘ says former Chinese technology minister

He does not seem to think China is far ahead of the US in developing blockchains – at least not yet.

‚Blockchain is still far from mature,‘ says former ChinaNOTICS minister of technology

Wu Zhongze, former deputy minister of science and technology in China and a well-known expert in digital economics, believes that blockchain technology is still very young.

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During an interview with The Paper, the former IT minister Bitcoin Storm also said that there was still „not much difference between where China and major economies like the United States and Europe“ stand in terms of developing blockchain-based ecosystems.

Wu noted, however, that China has improved in a number of sectors that are necessary for blockchain development, including hardware manufacturing, security platform and services, industry investment and financial development, he added:

„With the innovative development of technology and the blockchain industry, its application is accelerating and the scale of the industry continues to increase. This field should become a new point of economic growth in the future“.

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In what he called „rapid advancement“ of China’s blockchain infrastructure, the former minister said distributed technology will bring new opportunities to integrate and develop new technologies, such as 5G, artificial intelligence, data centres and industrial Internet.

A recent Securities Daily report explained how China’s publicly traded companies spend the millions they have allocated on blockchain R&D.

The study surveyed 23 companies in China that started working with blockchain in 2016. The figures suggest that companies allocate on average 20% of their annual revenues for these purposes. Most of these funds are spent on other government related solutions.

BTC/USD macht sich bereit für einen weiteren Versuch mit 11.500 $

Bitcoin-Preisvorhersage: BTC/USD macht sich bereit für einen weiteren Versuch mit 11.500 $

Nach einer kurzen Konsolidierung handelt BTC/USD derzeit über $11.450.

Wichtige Ebenen:

  • Widerstandsebenen: $11.900, $12.100, $12.300
  • Unterstützungsebenen: $11.100, $10.900, $10.700

Die BTC/USD-Bullen konzentrieren sich darauf, den Widerstand bei $11.500 zu brechen; ein Schritt, der den Weg für Gewinne über $12.000 ebnen würde. Die Münze pendelt sich derzeit bei über 11.400 $ ein, während die weitere Erholung durch den lokalen Widerstand bei Cryptosoft von 11.300 $ begrenzt ist. Der jüngste Einbruch, der sich vor einigen Tagen ereignete, war für Bitcoin jedoch tatsächlich hilfreich, da sich der technische Indikator RSI (14) über die 60er-Marke bewegt, während sich die Münze auf den nächsten Aufwärtstrend vorbereitet.

Was ist von Bitcoin zu erwarten (BTC)

Der Bitcoin-Preis befindet sich trotz eines Ausbruchs über den gleitenden 9-Tage-Durchschnitt weiterhin in der Konsolidierung. Die Bullen etablieren ein höheres Tief, müssen aber nur über $11.500 klettern, um einen täglichen Aufwärtstrend zu bestätigen. Gegenwärtig geht der Trend zu Gunsten der Bullen, und wenn die Situation unverändert bleibt, könnte BTC/USD weiter nach Norden schleifen.

Der Bitcoin-Preis übertrifft derzeit jedoch den gleitenden 9- und 21-Tage-Durchschnitt, wobei der horizontale Widerstand bei $11.462 liegt. Jede weitere zinsbullische Bewegung darüber könnte die Fortsetzung des Kurses bei 11.700 $ und das psychologische Niveau von 11.800 $ befeuern. Es besteht die Chance, dass ein neuer Weg zu Widerstandsniveaus von $11.900, $12.100 und $12.300 geschaffen wird.

Vorerst sollte die ganze Aufmerksamkeit darauf gerichtet sein, die Hürde bei 12.000 USD zu überwinden und die Unterstützung bei 11.200 USD zu verteidigen. In der Zwischenzeit könnte ein Unterschreiten der 11.200 $-Hürde bei 11.100 $, 10.900 $ und 10.700 $ Unterstützung finden.

Auf der 4-Stunden-Chart ist BTC/USD nach einer Seitwärtsbewegung seit dem 10. Oktober zu sehen, die Münze handelt derzeit über dem gleitenden 9- und 21-Tage-Durchschnitt. In der Zwischenzeit könnte der Bitcoin-Preis bei Cryptosoft der Aufwärtsbewegung folgen, wenn der technische Indikator RSI (14) über der 55er Marke bleibt. Der potentielle Widerstand befindet sich oberhalb der oberen Grenze des Kanals bei $11.650 und darüber, während die Unterstützungsniveaus unterhalb der gleitenden Durchschnitte bei $11.300 und darunter zu finden sein könnten.

DeFi market cap drops 25 percent in one day

The DeFi markets slumped yesterday. DeFi assets are down 25 percent.

The decentralized finance ( DeFi ) bubble continues to shrink. Crypto-market data firm Santiment saw the market capitalization of DeFi assets drop 25 percent over the course of yesterday alone

In a blog post on Oct. 8, Bitcoin Circuit estimated that the daily DeFi token trading volume had decreased by 30 percent overall. The market leaders Sushi ( SUSHI ), Uniswap ( UNI ) and Yearn Finance ( YFI ) recorded weekly losses of 51 percent, 38 percent and 31 percent respectively, making them the biggest losers.

„The crypto market has been mostly in the red this week and most DeFi blue chips have posted double-digit losses in the past 7 days.“

Santiment noted that while crypto Twitter had emphatically declared the death of the entire DeFi experiment, there was „whale accumulation“ in several DeFi assets, including Synthetix (SNX).

Santiment also stated that the combined value of DeFi assets fell to an all-time low when they last moved on the MVRV blockchain. This points to an „undervaluation“ at current levels.

Recently launched DeFi indices fell to record lows in the past week. Binance Futures‘ DeFi composite index fell 20 percent yesterday.

The index has fallen 63 percent since its first day of trading in late August

TokenSet’s DeFi Pulse Index ( DPI ) also fell 20 percent yesterday, hitting a record low of $ 71. That’s a decrease of nearly 50 percent since it was launched four weeks ago.

Former British politician Bloom (70) makes first bitcoin purchase

It remains fun to read about people from the ‚old‘ financial world who came out of bitcoin. Yesterday it was time again. Godfrey Bloom, a 70-year-old former politician from the UK, reported his first bitcoin purchase on Twitter.

He said he already had enough gold and silver, but since this week Bloom also has bitcoin in his portfolio.
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Bloom likes to learn more about bitcoin

The experienced former politician likes to learn more about Bitcoin Code and invites prominent people to come and talk about it on his YouTube channel with 13 thousand subscribers. Earlier Bloom said he kept 65% of his portfolio in gold, 8% in silver and the rest in real estate.

Now bitcoin has been added as well. Although it’s probably a small investment at first, it’s nice to see that Bloom takes bitcoin seriously.

The fact that Bloom came out with bitcoin should not come as a complete surprise. In 2013 he called the financial system as an MEP one big scam. According to Bloom, fractional banking is criminal and a danger to the entire economy.

„Once the banks are bankrupt, it is the taxpayers who have to pay for it. Until we send central bankers and politicians who support this to jail, the taxpayer will be the victim of this system“. said Bloom.

Nice development for bitcoin

Things have been going well with bitcoin the last couple of months. After the bold move of MicroStrategy in August and the statements of the world famous Paul Tudor Jones, we now have a former MEP with Godfrey Bloom making his first bitcoin purchase.

Although Bloom hasn’t unexpectedly ended up with bitcoin considering his background, it is nice to see that he takes it seriously. A few years ago this was in any case unthinkable.

More and more people are starting to realize that bitcoin will not just disappear. For example, 2020 for bitcoin might just get a very nice tail.