Cryptos differently directed on Monday, market giants boost business with bitcoin

Posted 23 April, 2018

On Monday, prices for cryptocurrencies are mostly on the rise in light of slacker demand on the regulation discussions. At the same time, some influence comes from the intentions of US Walmart and Amazon to monetize the technology.

On the Bitfinex, the leading digital coin, Bitcoin, rose in price to some $8,946, followed by Ethereum changing hands at $645.12 on this platform. Ripple posted a decline to $0.87500; the price for Litecoin rose to $152.25.

According to the news reports, Iran's regulator restricted all transactions and activities with cryptocurrencies in local banks. Specifically, it has already started considering trading on the Bitcoin exchange illegal in the country.

Iran worries that coins can be used in illegal activities, in particular, money-laundering and fuel the ongoing crisis in the country. Moreover, the fears about sanctions renewal lead to the collapse of the national currency.

In that respect, it is forecast that Donald Trump will decide on the renewal of Iran's sanctions till the mid-May. For reference, the world's 6-powers canceled the restrictive measures against Iran back in 2015.

It is worth mentioning, the National Bank of Dubai is said to apply blockchain technology to measures to prevent fraud, being the first among the regional institutions on this path. 

Meantime in the USA, some major sellers, in particular, Walmart, consider the possible use of bitcoin and blockchain in business activities striving to make shipping and payment process much easier. For Walmart, this retail giant has taken out a patent for blockchain payment system, enabling automatical payment processing and transaction data encryption. Unwilling to stay behind, another large retailer – Amazon – has also included bitcoin in its business for tracking making use of the cryptocurrency anonymity.

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