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We’re Moving to the Blockchain

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We’re Moving to the Blockchain

Introduction

This article was posted on Monday, 09:24, UTC.

Every day mankind is finding new uses for the blockchain. Here are a few of the cooler applications that are set to improve things…

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A firm in China called BitSE has recently launched a new version of Ethereum that they call VeChain to make it simpler for large corporations to start using the blockchain for big business.

Walmart is also getting in big on the blockchain. Recently, they’ve successfully completed a test that will help track the origin of food products. Executives of the super supermarket have stated that this is not something they’re pursuing in order to give them a competitive advantage but rather they invited others to participate and strengthen the network. Food safety is a big deal and this new technology has the potential to drastically reduce the effect of foodborne diseases.

Here at eToro, we are continuing our path of innovation and integrating the blockchain in a brand new way. This new pilot will be the first blockchain wallet to allow clients to store and trade multiple cryptocurrencies at the same time and will record the transactions directly on the bitcoin blockchain.

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As a leader in cryptocurrencies and blockchain technology, we are very proud of this update. Feel free to read the full details on Market Watch at: http://www.marketwatch.com/story/etoro-presenting-a-new-pilot-blockchain-wallet-at-the-st-petersburg-economic-forum-2017-06-02

Let me know if you have any questions.

Mati Greenspan
eToro, Senior Market Analyst

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Market Overview

Our hearts go out to all the victims and their families of the appalling terrorist attack in the heart of London. I was very glad to see that local law enforcement was able to deal with the threat in a timely manner and that people managed to carry on with their daily lives.

With three days left to the general elections, it is easy to get overwhelmed but I would like to urge our clients and colleagues in the UK to keep a clear mind in the coming days and focus on the issues that matter.

Perhaps it’s fitting that, unlike the Brexit referendum, this election will not yield and notable trading opportunities. eToro popular investor Mark Eden, AKA @InvestusMaximus, notes in this post on his wall that action on the GBPUSD and FTSE 100 remains “quite unpredictable.”

The State of the States

Job growth in the United States came out a lot weaker than expected on Friday.

The Non-farm payroll report, which was expected to show a gain of more than 180K jobs in May, came in weak at 138K. Not only that, the report for last month was also revised and it appears that in April the US only added 174K, rather than the 211K that was previously reported.

The US Dollar got slammed!!

It should be noted that since the election of Donald Trump many businesses have come out of a slump. The following charts show a massive surge in business activity and confidence in the US economy since the election.

However, the hard data has yet to catch up with this change in mindset and things like wage growth and inflation remain stagnant. All of which will make things very difficult for the Fed leading up to their meeting next week.

Fresh Trouble in ME

As if there wasn’t enough to worry about in the world, the temperature in the Middle East has again been turned up a notch.

Qatar has long been complacent in the fight against terrorism and her neighbors have had enough. We can expect increased border security and decreased political ties effective immediately.

The price of crude oil has spiked on this news as less cooperation in the Middle East tends to cramp supply lines but the move has largely been reversed by now as the downward trend on oil is strong at the moment.

Gold, on the other hand, is holding on to its gains. Gold experienced a significant breakout on the NFP results mentioned above and these type of tensions tend to increase demand.

I would like to wish those of you who are celebrating today a very happy Whit Monday!

Let’s have an amazing week ahead.

This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation.

Past performance is not an indication of future results. All trading carries risk. Only risk capital you’re prepared to lose.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Mati Greenspan

Mati Greenspan

https://www.etoro.com/

Senior Market Analyst at Etoro.com.

Comments
  • user

    AUTHOR smumo

    Posted on 9:27 am June 5, 2017.

    hello,I liked your daily analysis on cryptocurrencies which made me subscribe.I was really hoping for your daily recommendation.Disappointment is the name of the game thus far.

  • user

    AUTHOR Mati Greenspan

    Posted on 9:34 am June 5, 2017.

    Hi smumo. Thanks for the feedback. Have a great day!

  • View Comments (3) ...
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