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The Target stores chain will track deliveries on blockchain, Bitcoin is growing due to a trade war. SEC explanations about Bitcoin ETF.
Target, the second largest US retail giant, uses blockchain to track supply chains. Back in 2018, a new supervisory system was tested here, which showed its high efficiency. For that to happen, ConsenSource blockchain is used, which is built on Hyperledger platform.
The main difficulty in implementation of such a large-scale project is to create a single standard for the entire chain of suppliers and manufacturers. For these reasons, each participant in the process should agree to support the workflow in a single format. According to the situation, Hyperledger by Linux Foundation is optimally suited as a technology solution. Such giants as Intel, NEC and other leaders of IT industry take part in its development.
Christopher Vecchio, senior strategist at DailyFX, believes that the main reason for the growth in cryptocurrency markets is a trade war between the United States and China. The yuan weakens, the dollar rises in price, and the US stock markets are falling. This causes an imbalance on the trading platforms, which leads to increased instability. Under these conditions, investors are forced to look for non-standard solutions for money investment.
According to Oliver Isaacs, another expert in blockchain sphere, this situation may lead to an increase in Bitcoin price up to $ 20,000 and higher. Against this background, there is a sharp increase in the number of visitors on cryptocurrency platforms. There is an unusually powerful influx of visitors from Latin America. The aggressive statements of the American president regarding Brazil, Peru, Chile and Colombia force the investors from these countries to look for alternative options beforehand.
The head of the United States Securities and Exchange Commission explained SEC position on Bitcoin ETF funds. In an interview with CNBC, Jay Clayton noted that they need to solve a couple of the most difficult moments as of today. He complained on the lack of reliable services for cryptocurrency storing.
In addition, the risks of market manipulation still remain. The global nature and bitcoin blockchain decentralization do not allow the adoption of rules and regulations prohibiting the use of unethical market monitoring methods. Analysts draw sad conclusions from this statement. SEC has no leverage to cope with unpredictable price fluctuations. From this interview, experts concluded that one should not expect quick approval of Bitcoin ETF funds.
When Bitcoin-ETF started?