22/01/2018: Biggest Stories in the Cryptosphere

1. Deutsche Bank Discusses Correlation Between Cryptocurrency and Wall Street

On Friday, January 19, Deutsche Bank for its clients stating that there is an increasing correlation between Bitcoin price and the CBOE Volatility Index (VIX), also called Wall Street’s “Fear Index”. The note came from the bank’s Global Financial Strategist , along with his colleagues Tao Xu and Hiroshi Torii. According to the note, the association between the two increased in January 2018. At the moment, volatility in Wall Street is low. On top of that, there is also a low interest rate and a low spread. This is pushing investors to seek greater risk and potential returns in the crypto market, which results in a higher price for cryptocurrencies.

2. Japanese TEPCO to Invest in Blockchain Startup to Decentralise System

The Tokyo Electric Power Company (TEPCO), Japan’s biggest energy company, . TEPCO wants to collaborate in order to find a way to decentralise the energy transaction system. The investment allowed Electron to conclude its early-stage bridge round. In May of last year, the energy company even joined the non-profit . However, it was the loss of its Fukushima Daiichi nuclear power plant, due to natural disasters, that sparked the company’s interest in Blockchain technology. investing in electricity decentralisation. It joins Centrica and Siemens.

3. Blockchain To Be Used for Agriculture

has been completed by Louis Dreyfus Co (LDC), a giant operating in the agriculture sector, and a group of financing banks. This is evidence of the impact this technology is going to have on the way raw materials are traded. this sale of soy to China were LDC, as seller, and the Chinese agriculture processor Shandong Bohi Industry, as buyer. Financing banks ING, ABN and Société Générale were also part of the agreement. The Easy Trading Connect (ETC) platform was employed to digitalise the paperwork. The cut in cost and increase in speed represent a big opportunity for an industry where margins are low.

4. India Partners With Fund to Create Blockchain Stack

The Indian state of Andhra Pradesh, which is known for its interest in Blockchain technology, . They have signed a Memorandum of Understanding and will create a Blockchain India Stack called Velugu Core. Covalent Fund partner that this would be

“the largest, open and cryptographically secure ledger of information on a blockchain protocol designed in compliance with the Indian regulatory framework.”

This is part of the Fintech Valley Vizag initiative. The aim is to use the Blockchain technology to create a more transparent government. Furthermore, an initial investment of $10 million will be used to create a Blockchain university.

To receive our daily news roundup in your mailbox, sign up here: