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October 2016

PayPal Makes Blockchain Investment in Cambridge Blockchain

Paypal blockchain

Paypal blockchain

It’s a bullish day in the cryptosphere. Paypal makes a blockchain investment and Bitcoin jumps above $5,079 USD.

Bitcoin Jump: April Fool’s Joke?

Bitcoin gained 21% in early trade and has now slightly corrected back down to $4,712 according to CoinMarketCap. However, no one knows why the Bitcoin jump happened in the first place. Now, some investors wonder if the rally was the result of some sort of April Fool’s joke.

Zhao Changpeng, the chief executive officer of Binance, tweeted earlier today that he was “clueless” about what may have triggered Bitcoin’s jump.

Crypto Winter

Packing on over $600 in one night, the last time Bitcoin hit levels like this was in November. The top cryptocurrency plunged more than 70% in 2018 and has been stagnating through most of 2019 thus far. This period has been dubbed the “crypto winter,” and while today’s rally is impressive, analysts believe that “the bounce is not enough to reset crypto winter.”

According to Julien Auchecorne, London-based chief operating officer at XBTO International: “we have no major new products and last year’s big breakthroughs are still in their nascent stage.”

For Bitcoin’s jump to sustain itself, then bulls should hope for a bigger fundamental reason for the coin to climb.


Elsewhere in the blockchain industry, payment giant PayPal has made its first blockchain investment debut.

>> Bitcoin Price Jumps 20% on Technical Breakout: More Coins Follow

Announced today, PayPal has joined a Series A funding round for Cambridge Blockchain, a startup that helps financial institutions and other companies manage sensitive data using shared ledgers.

The investment amount has not been disclosed but what is known thus far is that Cambridge Blockchain has so far raised a total of $3.5 million in new equity. The firm has several investors who have backed it over the past nine months. So far, the blockchain startup has raised a total capital of $10.5 million.

This is the first investment PayPal has put into a blockchain company. The move may help to encourage greater adoption of blockchain technology and its relevant assets.

Between the massive Bitcoin jump and PayPal’s blockchain investment, there is good news all round in the cryptocurrency industry today!

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Monero (XMR) Still Vulnerable Despite Receiving Support from Nick Szabo



Like most digital coins, Monero (XMR) is equally vulnerable despite its bullish trading pattern against the US dollar. With privacy becoming more important each day, Monero is already well-positioned in that regard. The network has shown some resiliency despite its dependence on developers rejecting miner monopolization efforts.

Monero Receives Backing from Nick Szabo

There have been concerted efforts regarding privacy by citizens who are opposed to the behemoths focusing on personal data collection and processing for their own gain. For instance, Facebook (NASDAQ:FB) has been in the spotlight regarding privacy issues despite recently agreeing a $5 billion penalty with regulators. The company is expected to launch its crypto coin dubbed Libra, which is backed by a number of fiat currencies.

Given the privacy concerns that Facebook has had in recent times, it remains to be seen whether it will be trusted with financial information. As Facebook faces a storm, on the other end, there is Monero, which is the most discernible privacy coin and will most likely flourish as such. It has already received backing by the creator of smart contracts, Nick Szabo.

>> Bitcoin Falls Below $10K Again: Traders are Undecided

Cheap, Secure, and Decentralized coin

This is an enormous opportunity that will reinforce the ambition Monero developers have of producing a perfect coin that is secure and affordable, as well as one that is not vulnerable since it will be decentralized completely. However, there is a trade-off when it comes to the quest for a decentralized coin. The network may be vulnerable as its computing power may be less secure due to the frequent updates.

Currently, Monero (XMR) is stable but still under pressure, just like Bitcoin and other coins, and there is a possibility of bears flowing back. XMR’s flexible resistance level of $100 is likely to edge lower unless a surge happens beyond the middle Bollinger Band.

Featured image: DepositPhotos © jamesteohart

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LSE Interested in Blockchain and Distributed Ledgers? CEO Hints Yes



On May 2, CNBC published an interview with Nikhil Rathi, the CEO of the London Stock Exchange, a 300-year old trading venue. In the interview, Rathi gave hints that the LSE is looking at blockchain technology.

Here’s what we know.

LSE Interested in Blockchain

According to CNBC, Nikhil Rathi, who has been the CEO of the LSE since 2015, said the exchange is keeping an eye on blockchain. He also said the LSE has noticed an “interesting array of different ideas,” from competing exchanges. Before the exchange, which is one of the oldest in the world, moves into the blockchain sector, however, Rathi says it is waiting to see which ideas “gain market traction.”

While Rathi said the LSE is waiting to make a move, the CEO did hint at areas in which the exchange has been looking at. “You can certainly see distributed ledger technology having an application in the issuance process. I can see that technology being used in settlement too,” he told CNBC. If this is the area the LSE is looking to move into, we could soon see the London Stock Exchange using distributed ledgers for settling trades and issuing stocks.

Are We Surprised?

As monumental as it would be for the LSE to add blockchain to its technology inventory, the possibility of this happening isn’t surprising. Why? Because the London Stock Exchange has previously been open about its focus on blockchain technology. In 2019, the exchange purchased a minority stake (the exact amount of the investment was not disclosed) in Nivaura, a London-based blockchain startup.

>> Crypto Theft Could Hit $1.2 Billion in 2019, Says Cipher Trace


What do you think about the LSE looking at blockchain use? Do you think it would be beneficial if the exchange used distributed ledgers for settling trades? Let us know what you think in the comments below! And be sure to keep an eye on this story!

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The Abyss Platform Partners With Epic Games

The Abyss Platform

The Abyss Platform

Epic Games—the developer behind the global success Fortnite—is partnering with blockchain game distribution platform, The Abyss. The company made the announcement earlier today.

Epic Games and The Abyss Blockchain

The Abyss blockchain is a new digital gaming platform that offers MMO’s (Massively Multiplayer Online games) and other video games. Offering a Platform-as-a-Service (PaaS) business model, it gives indie-studios the ability to develop, run, market and manage their games. There is no interference from a third party.

Further, users can generate income via “the unique multilevel referral program which serves as an additional revenue stream for gamers and developers.

Epic Games Involvement – UE4

Now, The Abyss is partnering with Epic Games. The platform is offering its partner developers licensing, maintenance and support for Epic’s Unreal Engine 4 (UE4).

Released by Epic in March 2014, UE4 has become one of the most widely used engines for commercial game development. In essence, it is a tool used by game developers to create real-time, high-fidelity experiences as it offers the most advanced graphics out there.

In return for use of UE4, developers on The Abyss platform will be required to make quarterly payments, the equivalent to 5% of their returns, once they earned over $3,000.

Developers will also receive marketing support from The Abyss if they do use UE4 to develop their game. For example, the platform will help to attract early players for new games, and offer extra traffic for already released ones.

Unreal Engine Developers

On the partnership, Mike Gamble, Head of Games Licensing EMEA, for Epic Games, said:

“We’re delighted that The Abyss has chosen to provide additional resources to Unreal Engine developers and publishers on its platform. UE4 scales to hundreds of millions of players, and access to premier support and connections with the global community can be critical to success of large-scale games with live operations.”

>>Bitcoin Price Is On The Rise According To Brian Kelly On Fast Money

By offering UE4, The Abyss is hoping to attract more gaming studios and games to its blockchain. And further, as Abyss users are able to accept the native ABYSS token for payment and purchases, the platform is aiming to help Unreal Engine developers to adopt cryptocurrency.

What do you think? Have you heard of The Abyss platform? Sounds pretty cool!

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