ConsenSys Launches “STOP COVID-19 Virtual Hackathon”

ConsenSys Launches “STOP COVID-19 Virtual Hackathon”
April 9, 2020


After remaining on an uptrend for the past two weeks, the cryptocurrency market is undergoing minor price correction. Bitcoin (BTC) has lost 0.7% in the past 24 hours to close at $7,274. Ether (ETH) has lost 0.9% to trade at $170. XRP has lost 0.1% to trade at $0.1982. Other major altcoins which have gained in the past 24 hours include Tezos (XTZ-2.10, 3.3%), Ethereum Classic (ETC-$5.77, 1.9%), Cosmos (ATOM, $2.43, 0.6%), Dash (DASH-$74.77, 0.4%), ChainLink (LINK-$3.18, 12.1%) and IOTA (IOTA-$0.1710, 0.7%). Altcoins which have lost ground in the past 24 hours include Monero (XMR-$57.15, -0.9%), EOS (EOS-$2.71, -0.6%), Tron (TRX-$0.0135, -0.7%), Stellar (XLM-$0.0498, -0.7%), Cardano (ADA-$0.0360, -0.8%), Binance Coin (BNB-$14.97, -1.5%), LEO (LEO-$1.03, -0.2%), Huobi (HT-$3.94, -1.3%), Bitcoin Cash (BCH-$265.14, -3.4%), Litecoin (LTC-$45.82, -1.6%) and OKB (OKB-$4.93, -2.1%).

Private sector initiatives

ConsenSys Health launches ‘STOP COVID-19 Virtual Hackathon.’

ConsenSys Health rolled out the “STOP COVID-19 Virtual Hackathon,” which will be conducted between April 13th and May 11th, 2020. The program is backed by Gitcoin, One Million Developers, ConsenSys, Hyperledger, and OpenMined. It intends to capitalize on blockchain and other technological advancements to pave the way for info access for academics and healthcare experts involved in limiting the COVID-19 outbreak and avoid similar pandemics in the future.

The virtual hackathon also trusts that the program will encourage experts to create solutions that reinforce public health without compromising user privacy. Regarding the hackathon, Brian Behlendorf, executive director at Hyperledger, opined as follows: “This Hackathon brings together the medical and scientific communities and elite developers.”

Heather Leigh Flannery, founder, and CEO of ConsenSys Health, underlined some of the objectives of the venture, which will bring together professionals associated with open-source communities such as OpenMined, Hyperledger, and Ethereum.

Heather Leigh Flannery said, “Working together for the first time with a very specific toolset, this interdisciplinary group will rapidly create highly-relevant solutions with the potential to have both immediate- and long-term positive impact.”


SoFi taking over Galileo

Social Finance (SoFi), a crypto-friendly financial institution, is taking over digital payment platform Galileo in a cash and stock deal worth $1.20 billion. In this regard, California-headquartered SoFi has inked an agreement with Galileo. The payment will include $75 million in cash, $875 million in stock and $250 million in seller funded debt.

SoFi CEO Anthony Noto explained how the acquisition would assist in the prevailing financial market: “Together with Galileo, we will partner to build on our companies’ strengths to drive even greater financial technology innovation, making those products and services available to both current and future partners.”

The financial institution has recorded a rising demand since it rolled out a zero-fee cryptocurrency trading facility via its platform named SoFi Invest in September 2019.

SoFi, in addition to focusing on financial technology, aims to work with Galileo to “extend the reach of its products to other Galileo partners in the United States and international markets, while offering diversification and scale to SoFi’s existing infrastructure.”


ANSA introduces a blockchain-powered news tracking platform – ANSAcheck

Italy’s media outlet ANSA has launched a news tracking platform powered by blockchain technology. ANSA, a global news agency owned by 24 media companies, intends to increase trustworthiness between news publishers and readers. The platform, referred to as ANSAcheck, permits users to validate the origin and background of news published on the platform, its associated publications, and also third parties, including social media.

Furthermore, the technology adoption will enable ANSA to monitor its content usage and bring together web agencies, publishers, and other industry players. The system was created in partnership with Big Four accounting firm Ernst & Young. In particular, the system offers a news document with a tracking tag “Notizia d’origine certificata” (“News of Certified Origin”). The tag connects a news document to a web page consisting of information such as time and date of recording or release of the news, saved blocks related to appropriate events, and also links to related transactions on blockchain browser Etherscan.



Bobby Lee anticipates Bitcoin will reach $10,000 in the coming months

Bobby Lee, cryptocurrency exchange founder, Ballet cryptocurrency wallet company CEO and founder and one of the directors in the board Bitcoin foundation, anticipates Bitcoin (BTC) to reach $10,000 in the forthcoming months. Lee stated that his forecast is based on the block reward halving incident, which is expected to take place in May. The CEO also forecast a price of $25,000 for bitcoin by December 2020.

It is not the first time Lee has forecast optimistic price targets for Bitcoin. In November tweet, the CEO forecast the asset to record a price of $500,000 by 2028. With Bitcoin’s halving incident just one month away, a majority of cryptocurrency enthusiasts anticipate a rally, in accordance with earlier halving experience.

Lee highlighted an earlier halving incident that was market by price rally: “When new supply is cut in half and demand stays the same or increases, a price increase is a certainty. An increase of 25% to 50% by the third halving in May is a very modest expectation.”

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Richard W

Richard W

Richard is the guy who know everything there is about the financial industry, working in a top firm for over 15 years, he will give the lowdown on some of the biggest companies in the world

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