Cryptocurrency 

Oil Markets Could Save 30% With Blockchain, Data Gumbo CEO Says

Global oil operators can save at least 30% by using blockchain in their infrastructure, according to data by blockchain startup Data Gumbo. Andrew Bruce, CEO of American blockchain startup Data Gumbo, discussed blockchain-powered automated contract execution in the oil industry on Bloomberg Commodities Edge on July 19. When asked how much oil industry players can save by implementing blockchain applications such as blockchain-based contract execution instead of traditional paper contracts, Bruce argued that such solutions could save at least 30%, referring to internal studies by the company. According to Data…

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Cryptocurrency 

Crypto Markets Continue Trading in Red, Oil Reports Losses

Thursday, July 11 — major cryptocurrency markets are trading in the red zone, with just a few coins reporting moderate gains, according to Coin360. Market visualization courtesy of Coin360 The leading cryptocurrency Bitcoin (BTC) has continued coming down after yesterday;s sharp drop to trade at around $11,740 as of press time. The coin has lost 4.39% over the past 24 hours. During the day, Bitcoin has been trading in a narrow corridor between $12,191 and $11,377. As reported earlier today, Bitcoin trading in Zimbabwe has continued to surge after the government…

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Bitcoin 

Locals Allegedly Laying Cable via Fish Ponds to Steal Oil Well Power for BTC Mining

Police in China have reportedly gathered evidence of people laying cables via fish ponds to steal oil well power to fuel their bitcoin (BTC) mining. The news was reported by daily Chinese tabloid The Global Times on June 13. The Global Times is published under the auspices of state-backed newspaper group The People’s Daily. The report outlines that the Green Grassland Police Station of the Qiqihar District Public Security Bureau were alerted to the alleged power theft after receiving a call from the head of oil production at Daqing Oil…

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Ethereum 

Bitcoin Recovers to Trade Above $8,000, Oil Market Reports Losses

Monday, June 10 — The top 20 cryptocurrencies on CoinMarketCap are showing mixed signals, with bitcoin (BTC) back over the $8,000 price mark after seeing a dip under $7,900 on June 8. Market visualization from Coin360 As of press time, bitcoin is up 2.18% on the day to trade at around $8,029. The leading cryptocurrency started the day as low as $7,680, subsequently reaching the current price point. On its weekly chart, the coin has lost slightly over 8%. Bitcoin price analyst Oliver Isaacs said last week that the coin…

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Ethereum 

Crypto Markets Show Signs of Recovery, While Oil Prices Slump

Friday, May 31 — cryptocurrencies are on the rise again after seeing a slight correction yesterday, May 30, with EOS (EOS) being the only coin among the top-20 cryptocurrencies to register double-digit gains. Market visualization by Coin360 The leading digital currency bitcoin (BTC) is up slightly over 3% on the day, and is trading at $8,573 at press time. On its weekly chart, bitcoin saw its lowest price point at $7,924 on May 26, while its highest price point of $8,994 was on May 30. Bitcoin 7-day price chart. Source:…

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