Malta Registered Highest Crypto Trading Volume In 2018

Blockchain technology is undoubtedly an incredible one and Malta’s … that marks an extremely positive attitude towards these emerging technologies.

Jan 20, 2019 23:30&nbspUTC

| Updated:

Jan 20, 2019 at 23:30&nbspUTC

By&nbspRushali Shome

Blockchain technology is undoubtedly an incredible one and Malta’s enthusiasm for it is a well-publicised affair. It comes as little surprise, therefore, that Malta has become the country with largest trading volume in cryptocurrencies, something that is so deeply intertwined with the world of blockchain, being based in that technology itself. Having seen trading of cryptocurrencies worth $40 billion all through 2018, this little island country has easily topped the charts in this department.

We know rather well that there is no clear, globally coherent and uniform stance towards cryptocurrencies that we can possibly refer to understand how governments around the world view cryptocurrencies and blockchain. However, no matter how wide that spectrum is, in its entirety, Malta is situated firmly on the end that marks an extremely positive attitude towards these emerging technologies.

Although it is somewhat understandable why many governments would find the decentralization and occasional anonymity associated with cryptocurrencies threatening, the love for blockchain is more widespread, especially considering that it does support an increasing number of crucial use cases. Malta, however, is one country that has proved to be almost equally receptive to both of these technologies, accepting that a revolution in the fintech sector is on its way and the best way to handle it is to prepare for it well.

Yet, Malta usually gets most attention for being an archetypal “blockchain hub”. Touted as the “Blockchain Island” of the world, it gets far less attention for being as welcoming to cryptocurrencies it has been. But now, with the statistics indicating its suitability as a crypto island as well, we have little doubt that it will soon be hailed as such.

While the United States is known to be the largest economy in the entire world, its crypto trading volumes have proved to be puny compared to that of the tiny island that is only a fraction of the US in terms of size. The United States has managed crypto trading volumes of less than half of Malta’s volume.

China, despite its government’s hardline stance towards cryptocurrencies, has proved to be resilient to the crypto ban, registering a $32.5 billion trading volume and coming second to Malta. Malta has managed to supersede finance capitals like London and New York in topping this chart and we can only hope its support for crypto remains unwavering throughout.

Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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NVIDIA (NVDA) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of NVIDIA (NASDAQ:NVDA) from a sell rating to a hold rating in a research report sent to investors on …

NVIDIA Co. logoZacks Investment Research upgraded shares of NVIDIA (NASDAQ:NVDA) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

According to Zacks, “NVIDIA is gaining from its sustained efforts toward attaining a robust position in several emerging industries. Growth opportunities in ray-traced gaming, rendering, high-performance computing, artificial intelligence (AI) and self-driving cars are expected to be the company’s consistent tailwinds. Rapid adoption of GPUs in the automotive and datacenter markets is a key growth driver. However, the company is experiencing a rough time due to a string of weaknesses plaguing the semiconductor market recently. The end of the cryptocurrency mining boom weakened demand for its GPUs. The company is hurt by weakness in the Gaming segment, which is affected by an excess inventory of midrange Pascal products. Shares underperformed the industry in the past year.”

A number of other research analysts also recently weighed in on the company. Goldman Sachs Group upgraded NVIDIA from a buy rating to a conviction-buy rating and lowered their price target for the company from $324.00 to $305.00 in a report on Thursday, October 18th. Credit Suisse Group assumed coverage on NVIDIA in a research report on Monday, November 26th. They set an outperform rating and a $225.00 price objective for the company. Evercore ISI lifted their price objective on NVIDIA from $300.00 to $400.00 and gave the company an outperform rating in a research report on Friday, September 28th. Tigress Financial reissued a buy rating on shares of NVIDIA in a research report on Friday, October 5th. Finally, UBS Group raised NVIDIA from a neutral rating to a positive rating in a research report on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have assigned a buy rating to the stock. NVIDIA presently has an average rating of Buy and an average price target of $250.64.

Shares of NASDAQ NVDA opened at $156.93 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 6.20 and a current ratio of 7.08. The firm has a market capitalization of $95.73 billion, a P/E ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 2.05. NVIDIA has a 52-week low of $124.46 and a 52-week high of $292.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.06). NVIDIA had a net margin of 37.78% and a return on equity of 51.60%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.24 billion. As a group, research analysts expect that NVIDIA will post 6.45 EPS for the current fiscal year.

In related news, CFO Colette Kress sold 889 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $147.91, for a total transaction of $131,491.99. Following the transaction, the chief financial officer now directly owns 259,912 shares in the company, valued at $38,443,583.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Debora Shoquist sold 6,345 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $135.33, for a total value of $858,668.85. Following the transaction, the executive vice president now owns 177,911 shares in the company, valued at $24,076,695.63. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Trust Department MB Financial Bank N A bought a new position in NVIDIA during the fourth quarter valued at about $31,000. Truewealth LLC grew its stake in shares of NVIDIA by 110.2% in the 4th quarter. Truewealth LLC now owns 370 shares of the computer hardware maker’s stock valued at $49,000 after purchasing an additional 194 shares during the period. CX Institutional bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $52,000. IMS Capital Management bought a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $77,000. Finally, Strategic Wealth Partners Ltd. grew its stake in shares of NVIDIA by 37.6% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 289 shares of the computer hardware maker’s stock valued at $81,000 after purchasing an additional 79 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

NVIDIA Company Profile

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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DigiByte’s Josiah Spackman: So many incredible uses for blockchain and crypto

From the fastest block propagation of any UTXO blockchain, to being the first major blockchain to implement SegWit, to having so many blocks that …

Coin Rivet: DigiByte turned five years old on 10th January. What have been the highlights and biggest challenges/obstacles thus far?

JS: DigiByte has been pioneering changes and improvements right from inception. Being “faster, more secure, forward thinking” is more than just a catchphrase, it’s the DNA of the project. From the fastest block propagation of any UTXO blockchain, to being the first major blockchain to implement SegWit, to having so many blocks that we’re pushing the limits of 32-bit address space.

We encounter things that Bitcoin likely won’t face for another century. However, these aren’t negatives, when we’re pushing barriers we know we’re not just some “me too” blockchain, but genuine pioneers making something great. We’ve seen the likes of DigiByte-created DigiShield used in dozens of other projects, such as DOGE, BCH/BSC, MONA, Ubiq and more.

Coin Rivet: Many cryptocurrencies have crashed and burned over the past five years. But you’re still in the game.

JS: There are many aspects to this, but a large one comes from having people work on it because they want to, not because they’re paid to. When DigiByte was launched in 2014, pre-mined blockchains were scoffed at and most never lasted more than a few months. It was the people who were genuine believers in the technology and their project who survived. Finding others who also believed in your project, the goals, and what it stands for also helps significantly.

DigiByte is also incredibly blessed to have Jared Tate as the founder, who has remained active in the project this entire time. Where we see others start up and their founder up and leaves after a few months to go start their third or fourth blockchain, Jared has remained very committed and is still a believer to this day, actively contributing to the DigiByte code and building projects on the blockchain.

“We see so many P&D projects, it’s crazy. It’s also really sad because it was only just 12 months ago that we saw Bitconnect fail, yet they had a “working” token, and people were taking out their life savings to put into it due to some slick marketing”

Coin Rivet: 2018 was a rollercoaster ride for cryptocurrencies. What are your key takeaways from the past 12 months?

JS: One thing is for sure, you find out who your “true friends” are, those who genuinely believe in blockchain as a way to change the world, the possibilities, and those who are just here because they want a fast way to get rich. We see so many P&D projects, it’s crazy. It’s also really sad because it was only just 12 months ago that we saw Bitconnect fail, yet they had a “working” token, and people were taking out their life savings to put into it due to some slick marketing.

To this day, we still have other projects that have slick marketing, yet these projects couldn’t even write their own whitepaper. I feel we’re going to see more focus on the “tried and tested”, we’re going to see many of these “nice idea” projects with no substance will fall by the wayside, and we’re going to see more and more focus on the use of blockchain outside of just a method of payment.

Coin Rivet: Do you believe that widespread crypto adoption is coming or will it remain a niche thing for the foreseeable future?

JS: Yes, with every day that passes the DigiByte community messages me saying, “hey, wouldn’t this be an awesome idea for DigiAssets”, and they’re right. There are so many incredible uses for blockchain and cryptocurrency, more than just “I pay you and you pay me”. We can do things with DigiByte like validating legal documents, wills, land ownership or shipping manifests.

You could use the upcoming DigiAssets to issue flight tickets, and customers could validate the supply to ensure an airline isn’t overbooking their planes (Nobody likes to get to the airport and being bumped off a flight). Perhaps it gets used for music concerts, that immediately solves ticket scalping and many other issues plaguing that industry.

With DigiAssets coming out in 2019, coupled with our fantastic mobile experience, we’re going to see a realm of possibilities opening up, and hopefully many people will be blissfully unaware that it’s a blockchain that powers it all.

Coin Rivet: There are many high-profile critics who argue cryptocurrencies are a busted flush, a solution to a problem that doesn’t exist etc. How do you respond to them?

JS: On a personal level, I definitely agree with them in many ways, though not all. Bitcoin was created with the genesis block hash: The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

This is because banks can’t be trusted, and with self-sovereignty over your own wealth and assets you remove that liability. Just look at what happens when others have control over your money, the ability to print more at a whim, and how that has had a catastrophic effect on the likes of Venezuela.

Similarly, DigiByte was created to be forward-thinking, around cyber security: USA Today: 10/Jan/2014, Target: Data stolen from up to 110M customers. We look at things like the recent Facebook hacks, where any site that you had signed in to with your Facebook account got complete access to your account/profile/data. This is why DigiByte has created Digi-ID, which has completely solved this very issue that affected Facebook users.

This is a genuine problem that plagues people to this day, and this is one that DigiByte has the answer for. So while I wholeheartedly agree with critics and believe that tokenizing Bittorrent and other things is a ridiculous idea, I’m proud to be involved with making real solutions through DigiByte.

“Just as almost everybody knows how to use a web browser and email, we’ll see the same thing with blockchain and cryptocurrency over time”

Coin Rivet: What’s your take on regulation in this space?

JS: Those in favour of regulation are probably right, and we’ve seen the effects that P&D groups have, or even insider trading on many major exchanges both in the USA, Malta etc. There will never be a single global regulation around cryptocurrency, but many countries will hopefully protect their own citizens.

The hard part about cryptocurrency is we’re in a technical space, filled with many non-technical people that don’t understand what a “private key” is, let alone why they should or should not invest in a project. The SEC put out an incredible fake ICO website that highlighted this, and to many uninitiated it looked completely legitimate.

Genuine community education is the key, and teaching children/young adults through the education system will play a large role. We’ve seen this with the tablet computers we donated to people in Venezuela when we did our third philanthropic event there, how quickly these children have taken to it and how well informed they are about how the underlying technology works.

Just as almost everybody knows how to use a web browser and email, we’ll see the same thing with blockchain and cryptocurrency over time.

Coin Rivet: What can we expect from DigiByte in 2019?

JS: We’re going to be really showing the world the security benefits of Digi-ID. I even setup my house front door to be securely opened with my DigiByte mobile app through Digi-ID. It solves so many security issues, and it’s great to see other third-party multi-coin wallet vendors are in the process of implementing it too. We’ll see some popular cryptocurrency exchanges starting to support it early this year and no doubt over time that will begin filtering out to the rest of the internet.

DigiByte is also focusing on DigiAssets, and making them easily accessible/issued/traded/utilised from your cellphone. It’s not enough to just do smart contracts as we’ve seen other platforms do, but you need the five years of “in the wild” and battle-hardened security of DigiByte, coupled with our on-chain scaling. This way when the next crypto-pets game is released it doesn’t bring down the network as we’ve seen happen in December 2017 on other blockchains.

We’re also going to see DigiByte pushing forward with our security aspect, we’re going through final testing now, following the creation of a unique hashing algorithm to help secure the network. It’s not enough that we’re already the fastest, most secure and most decentralised UTXO blockchain on the planet, we want to keep pushing that forward, breaking the barriers, and challenging the limits, all while ensuring security and safety of the DigiByte blockchain.

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Justin Sun Wants to Use BitTorrent and Blockchain Games to Decentralize the Internet

Sun planned to take advantage of the blockchain since the decentralized ledger is transparent and secure. It will be combined with the decentralized …

Researchersat Satis Group have tagged at least eighty percentof the firms that raised funds through initial coin offerings. However, the28-year-old CEO of Tron, Justin Sun, wants to prove that this statement doesn’tapply to his company.

TRON(TRX) Price Today – TRX / USD

Name Price 24H (%)

bitcoin
Bitcoin(BTC)

$3,678.74

tron
TRON(TRX)

$0.024166

Sun becamewealthy after creating Peiwo, the Chinese equivalent of Snapchat. Since then, he has been working on a toughbattle to earn trust for his company and the cryptocurrency. The company raisedabout $58 million two years ago in an initial coin offering.

Last summer,the founder of Tron acquired BitTorrent for $140 million. This company is aboutfifteen years old and is one of the largest decentralizednetworks in the world. Sun planned to take advantage of the blockchain sincethe decentralized ledger is transparentand secure. It will be combined with the decentralizedfile sharing app and offer crypto rewards to users who share their PCs for filesharing.

Justin Sun’s interview

This week,Tron’s founder appeared on stage at the Nitron Summit. The summit drew in morethan a thousand attendees, and he made anappearance with basketball legend, Kobe Bryant. Tron created a $100 millionfund in a bid to convince the game developers to make games, which use Tron’sprotocol as well as TRX, the cryptocurrency. He promises to create a cryptonetwork that is reliable and fast.

Tron wasinterviewed by Venture Beat, andhe says that he wants his company to be the main blockchain which could be thealternative to centralized internetnetworks of Facebook, Google and Apple. For this to happen, Sun must getmainstream users such as the 100 million BitTorrent users to begin to trustcryptos despite the coin market slide that has sliced the value of cryptos inhalf. Tron is not excluded from this downslideas its value has dropped from $20 billion to $1.6 billion.

Integration with bit torrent

Sun plansto find a better solution for the protocol of BitTorrent to improve its efficiency.Presently, most people seed for goodwill may not have the incentive to seed. Swarms and trackers become obsolete quicklyafter they are abandoned. Sun believesthat the first step is making BitTorrent’s cryptocurrency available to userswho contribute to the network.

The CEOof Tron also said:

The second step will be a move to decentralized storage plans, decentralized CDN, decentralized live streaming. But this is the first step. Right nowwe have 800,000 to 1 million already testing the BTT. We’re supposed to launchto 20 million users in Q1 with the test mode. In Q2 we’ll move to productionmode, so other people can enjoy the protocol.”

A sharing economy

Sun was asked what the company would do with thecryptocurrency, and he replied sayingthat they plan to give it to BitTorrent users who will get tokens for testing. This will be a new experience and hopes tobring up to 100 million new users of crypto.

He alsosays that they will discover that if the tokens arespent on bandwidth and transfer, they will have a faster download speed.They will be able to find more seeds and swarms. Sun says,

Sometimes you download a torrent and youfind out a movie is great, the content is great, but there aren’t any peopleseeding it. You can’t download it. But with this, a lot of people will be continuouslyseeding. It’s a mutually beneficial environment. In the future, if youcontribute to shared storage or shared CDN, you can get even more rewards.

SAP develops blockchain-based software that tracks authenticity of drugs

Looking at the above case, it’s not too much to say that blockchain not only can improve people’s lives, it can actually save people’s lives.

Multinational software company, SAP reveals to the public the major project they’re currently doing, which utilizes the distributed ledger technology, as reported by The Next Web.

According to the official release of the World Health Organization (WHO) in 2017, around 10% of medical products circulating in low and middle income countries were either fake or substandard.

In the US alone, drug wholesalers see around $7 billion worth of returned drugs, which usually being resold by to the public, regardless of their “conditions”.

With a new regulation from the US Drug Supply Chain Security Act (DSCSA), all wholesalers are now obliged to verify returned prescription drugs prior to resale.

This is where SAP’s new software has major role as it allows wholesalers to authenticate the drugs returned by pharmacies and hospitals using the blockchain-backed supply chain tracking system.

Another fact worth mentioning is the software was developed in cooperation with major pharmaceutical companies, such as Boehringer Ingelheim, GlaxoSmithKline and Merck Sharp & Dohme.

Looking at the above case, it’s not too much to say that blockchain not only can improve people’s lives, it can actually save people’s lives.

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