A summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.
CFTC Seeks Public Feedback On Ether
The U.S. Commodity Futures Trading Commission (CFTC) is seeking public comment and feedback on Ether and its use on the Ethereum Network given the cryptocurrency's market share and potentially unique attributes relative to Bitcoin. The RFI also seeks to understand similarities and distinctions between Ether and Bitcoin.
Gemini supports Bitcoin Cash trading and custody
Gemini, a crypto-exchange and custodian owned by Internet entrepreneur twins Cameron and Tyler Winklevoss, announced support for Bitcoin Cash (BCH) trading and custody service. Bitcoin Cash, a fork of the Bitcoin network, was recently in controversy after it was forked into two distinct networks and blockchains - Bitcoin ABC and Bitcoin SV. Gemini is currently only supporting Bitcoin ABC network by referring to it as Bitcoin Cash with ticker BCH.
Australian insurer NTI joins BeefLedger's blockchain pilot
Australian truck insurer National Transport Insurance (NTI) joined a blockchain-powered supply chain pilot conducted by BeefLedger to track Australian beef's export journey. The trial is set to boost food safety, improve animal welfare, and monitor export security for Australian beef. The platform is looking to deploy the initiative later in the month to track the "paddock-to-plate journey" of premium Australian beef, abroad.
UNICEF to fund start ups for blockchain innovations
UNICEF announced a $100,000 fund to six blockchain startups to solve global challenges using blockchain technology.The United Nations' charity arm for children said that the UNICEF Innovation Fund will invest the money in six companies -Atix Labs from Argentina, Onesmart and Prescrypto from Mexico, Statwig from India, Utopixar from Tunisia and W3 Engineers from Bangladesh -to deliver open-source prototypes of blockchain applications within 12 months.
U.S. Auto Insurer to test Blockchain for Auto Insurance claims
U.S.-based Auto Insurer State Farm Mutual Automobile Insurance Co. is testing a blockchain-powered solution for speeding up the subrogation process for auto claims. State Farm is in the process of investing in new technologies such as blockchain to help improve a time-consuming claim process. The insurer is testing the solution against existing subrogation processes to see if it can be a viable product for insurance industry.
Gibraltar Blockchain Exchange Introduces Insurance coverage for Crypto assets
Gibraltar Blockchain Exchange unveiled insurance coverage for crypto assets on the trading platform. GBX is implementing the insurance policy in partnership with Gibraltar-based Callaghan Insurance. Cryptocurrencies held in both the hot and cold wallets of the GBX Digital Asset Exchange (GBX-DAX) will be insured.
Current Prices
As of this writing, Bitcoin is gaining 2.19 percent or $73.10 at $3412.02 on Coinbase. Ethereum also is up 3 percent or $2.60 to trade at $89.20.
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