Cryptocurrency world news on 01/13/2020

Cryptocurrency world news

More than half of LTCs have been in motion wallets for over a year

More than half of LTCs lie on wallets without traffic for more than a year

Franklyn Richards, director of the Litecoin Foundation, said more than half of the circulating 63 million LTCs have been in wallets without traffic for more than a year.

According to Richards, the accumulation of LTC on the wallets of the “whales” took place from November to December 2018. Since then, more than 40 million LTCs have been idle. Richards believes that the “whales” bought LTC at a low price and are now waiting for the cryptocurrency rate to take off in order to make a profit.

Of the 100 largest wallets storing LTC, 45 received coins in the period from November to December 2018, when the Litecoin rate was about $ 23. Currently, the cost of cryptocurrency reaches $ 49.9.

“We know that at least 12 million LTCs are on Coinbase’s wallet and are owned by its users. As for other major services or exchanges, we do not know the addresses of such organizations. 15 million LTCs have been idle for more than 2 years, and since the beginning of 2017, 4 million coins have not been touched, ”Richards said.

Samsung SDS and Syniverse will develop a blockchain platform for mobile payments

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The IT division of the international technology giant Samsung SDS has announced a collaboration with telecommunications company Syniverse to develop a blockchain system for mobile payments.

According to the developers, the platform will simplify and speed up payments between mobile operators and companies in various sectors of the economy, including finance, logistics, tourism and the hotel business. The platform will be compatible with any mobile operator, and using the blockchain, users will be able to send money to each other, loyalty points and cryptocurrencies, as well as pay them all over the world.

The system will be developed on the basis of the corporate platform Nexledger Universal from Samsung SDS and Universal Commerce from Syniverse. In addition to user applications, developers intend to introduce 5G technology and the Internet of things to make payments. According to companies, users will be able to make payments without creating a mobile wallet, and payment will be made through a cell phone number.

Central Bank of China reports on the completion of the main part of the development of its digital currency

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The People’s Bank of China has completed the “high-level” development of its national digital currency, writes The Block, citing local media.

According to their information, the regulator published a new document stating that the stage of “high-level development, preparation of standard formulations and functional studies” has come to an end.

The next steps will be related to stability, security and instrument management, said Mu Changchun, director of the payment and settlement solutions division of the People’s Bank of China.

Only last week, the regulator reported “smooth progress” in its digital initiative. “We will continue the stable development of legal digital currencies in 2020,” the central bank said, refraining from specifying specific dates.

The development of the digital currency of the Central Bank of China has been underway since at least 2014. Initially, access to it will be provided to selected regulated financial institutions, which will deal with its distribution among consumers.

The first digital currency tested by Shenzhen and Suzhou. According to available information, for this, the People’s Bank of China attracted seven major banks and telecommunication companies of the country to cooperation.