Cloud Encryption Software Market 2020-2025: by Key Manufacturers with Countries, Type, Application and Forecast Till 2025 Cole Reports – Cole of Duty

The research report on the Cloud Encryption Software market offers a comprehensive study on market share, size, growth aspects, and major players. In addition, the report contains brief information about the regional competitive landscape, market trends, and drivers, opportunities and challenges, distributors, sales channels, risks & entry barriers, as well as Porters Five Forces Analysis. Moreover, the main objective of this report is to offer a detailed analysis of how the market aspects potentially influence the coming future of the Cloud Encryption Software market. The report also offers a comprehensive analysis about the competitive manufacturers as well as the new entrants also studies along with their brief research.

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In addition, this report also contains a price, revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global Cloud Encryption Software report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the Cloud Encryption Software market report offers a complete analysis of the current situation and the advancement possibilities of the Cloud Encryption Software market across the globe. This report analyses substantial key components such as production, capacity, revenue, price, gross margin, sales revenue, sales volume, growth rate, consumption, import, export, technological developments, supply, and future growth strategies.

Moreover, the Cloud Encryption Software report offers a detailed analysis of the competitive landscape in terms of regions and the major service providers are also highlighted along with attributes of the market overview, business strategies, financials, developments pertaining as well as the product portfolio of the Cloud Encryption Software market. Likewise, this report comprises significant data about market segmentation on the basis of type, application, and regional landscape. The Cloud Encryption Software market report also provides a brief analysis of the market opportunities and challenges faced by the leading service provides. This report is specially designed to know accurate market insights and market status

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The key players covered in this study

GemaltoHPEIBMMicrosoftSymantecThales E-SecurityCiphercloudNetskopeTrend MicroParablu

Market segment by Type, the product can be split into

Cloud-basedOn-premise

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Market segment by Application, split into

BFSIManufacturingHealthcareGovernmentOthers

Market segment by Regions/Countries, this report covers

United StatesEuropeChinaJapanSoutheast AsiaIndiaCentral & South America

The study objectives of this report are:

To analyze global Cloud Encryption Software status, future forecast, growth opportunity, key market and key players.To present the Cloud Encryption Software development in United States, Europe and China.To strategically profile the key players and comprehensively analyze their development plan and strategies.To define, describe and forecast the market by product type, market and key regions.

In this study, the years considered to estimate the market size of Cloud Encryption Software are as follows:

History Year: 2013-2017Base Year: 2017Estimated Year: 2018Forecast Year 2018 to 2025

Major Points From Table of Content:

Chapter One: Report OverviewChapter Two: Global Growth TrendsChapter Three: Market Share by Key PlayersChapter Four: Breakdown Data by Type and ApplicationChapter Five: United StatesChapter Six: EuropeChapter Seven: ChinaChapter Eight: JapanChapter Nine: Southeast AsiaChapter Ten: IndiaChapter Eleven: Central & South AmericaChapter Twelve: International Players ProfilesChapter Thirteen: Market Forecast 2018-2025Chapter Fourteen: Analysts Viewpoints/ConclusionsChapter Fifteen: Appendix

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Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

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Cloud Encryption Software Market 2020-2025: by Key Manufacturers with Countries, Type, Application and Forecast Till 2025 Cole Reports - Cole of Duty

Exclusive: Zoom plans to introduce end-to-end encryption; in touch with Home Ministry – CNBCTV18

As many organisations have asked employees to work from home to stop the spread of coronavirus, this has led to a sharp rise in the use of online communication platforms such as Zoom for meetings, webinars etc. However, the Home Ministry recently raised alarm bells, flagging video conferencing software Zoom as unsafe and vulnerable to cybercrimes.

Harry Moseley, global CIO at Zoom cleared the air and spoke about how the company was planning to introduce end-to-end encryption.

We have always been very focused on safety and security for our professionals. We have done a couple of things, one is we have redirected our entire engineering team for 90 days beginning on April 1 to focus on bringing the necessary security controls right to the forefront, he said.

The Indian government has been critical of the video conference platform and issued an advisory directing staff to avoid using it for official purposes. We are in contact with Ministry of Home Affairs that issued the notification and we expect, as a consequence of these conversations, that things will change in time. But recently, the British parliament approved Zoom for their communications. That is just one of many examples around the world. So we do hope to see that change of mindset with the Ministry of Home Affairs, he stressed.

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Exclusive: Zoom plans to introduce end-to-end encryption; in touch with Home Ministry - CNBCTV18

Is Zoom safe to use? Here’s what you need to know – starexponent.com

Zoom, a videoconferencing service created for corporate webinars and meetings, has grown into something more amid the coronavirus outbreak.

With the number of daily users exploding from 10 million to 200 million from December to March, it has become a forum for nearly every kind of social function, including happy hours, yoga sessions, school classes, funeral services as well as Passover, Easter and (soon) Ramadan rituals.

But no sooner had many tried Zoom for the first time than they began to hear reasons they might want to stay away.

Trolls have crashed meetings, flashing porn or racist slurs on screens. Security researchers released report after report on newly discovered vulnerabilities including leaked emails and bugs that might have allowed hackers to access webcams.

Earlier this month, Google warned employees not to use Zooms desktop application on their work computers due to privacy and security vulnerabilities. SpaceX, the U.S. Senate and New York Citys school district have enacted similar restrictions.

If youre among the tens of millions of people who have become regular Zoom users in recent weeks, you may be wondering what all this means for you. Heres a primer on some of the notable privacy and security lapses and how to keep your calls and data safe.

Is Zoom sending my data to Facebook?

A Vice investigation showed that Zooms app for iPhones sent data about users devices to Facebook, including about users who did not have Facebook accounts. The company was hit with at least two lawsuits in federal court, one by a California resident who alleges Zoom violated the states new Consumer Privacy Act by disclosing information to Facebook without providing consumers with adequate notice or the ability to opt out.

Zoom Chief Executive Eric Yuan said in a blog post March 27 that the company removed code that sent user data to Facebook in an updated version of the iOS app. The company updated its privacy policy March 29 after a swell of concern from users.

I think Zoom wasnt completely honest, Electronic Frontier Foundation senior technologist Bill Budington said. I think they are going through a lot of growing pains.

How else might my information have been compromised?

Reports of Zooms vulnerabilities predate the coronavirus crisis. Last July, security researcher Jonathan Leitschuh exposed a flaw that allowed hackers to take over Mac webcams through the app. The company fixed the problem after a public interest research center filed a complaint with the Federal Trade Commission.

Thousands of personal Zoom videos were left viewable on the open web, including one-on-one therapy sessions, telehealth calls and elementary school classes, the Washington Post reported. Peoples names, phone numbers and intimate conversations were revealed and childrens faces and voices were exposed.

Experts say the company now seems to be making more serious efforts to identify and quickly patch vulnerabilities. It formed an advisory council of chief security officers from other companies and hired Alex Stamos, Facebooks former chief security officer, as an adviser. Thats a lot of money being thrown at the problem to improve security. That is not insubstantial, said Leitschuh, who discovered the Mac camera vulnerability last year.

Are Zoom calls encrypted, and does that matter?

Zoom marketed its communications as protected by end-to-end encryption, which makes it, in effect, impossible for anyone, including the company itself, to spy on them. Recently, however, the Intercept revealed Zoom has been using a different type of encryption, called transport encryption, which enables the company to decode the content of calls.

That means the company could hypothetically be susceptible to pressure from government authorities to disclose communications, said Bill Marczak, a fellow at the Citizen Lab and a postdoctoral researcher at UC Berkeley.

That doesnt make those calls uniquely vulnerable, however. Cellphone calls and Skype calls on default settings, for example, arent encrypted end to end either, and its unlikely the average person would need this type of security. But reporters or dissidents under oppressive regimes, government officials discussing classified information or big companies that want to keep their business strategies confidential might want to use a more secure platform, Budington said.

What information does Zoom give my boss or co-workers?

If youve been part of a long, boring webinar, you perhaps thought there would be no harm in checking your email or your Facebook feed to pass the time. So many were alarmed at the revelation of an attention tracking feature that allowed the meeting host to see when participants clicked away from the active Zoom window for more than 30 seconds. The company announced it had removed the feature in an April 2 blog post.

Thats not the only way hosts can gather information on attendees. They can also record audio and video from meetings and save a record of group chats. Some Zoom users were surprised to learn that if they use a tool that allows them to save the chat log from a call on their local deviceswhich many use as a way to document meeting minutesthat record will include private chats theyve sent in addition to messages the group has sent.

What is Zoombombing?

Because Zoom is so easy to use, it has also been easy for people to exploit the app to sow mischief or chaos. Zoombombing is when uninvited participants interrupt or derail a meeting. Sometimes its harmless trolling, but often it rises to the level of harassment.

As USC and local school districts transitioned to online meetings, they reported getting Zoombombed with racist taunts and pornographic images. Recently, Berkeley High School students were in the middle of a video conference when a man joined the Zoom meeting, exposed himself and shouted obscenities, the Mercury News reported.

The New York Times found scores of accounts on Instagram and on Reddit and 4Chan message boards where users coordinated to share meeting passwords and derail Zoom meetings.

Zooms default setting allowed anyone to join video calls if they had the meeting ID, which is a number 9 to 11 digits long. These meeting IDs are easy to guesswith an automated tool (called war-dialing), one could access thousands of meetings within a day by simply making a lot of guesses.

What are some steps I can take to make Zoom safer to use?

Be careful about how you share meeting IDs. Dont post them publicly.

Generate a new ID for every meeting you launch using the options panel, instead of using your personal meeting ID. That way, if someone gets ahold of your personal ID, future meetings wont be disrupted by Zoombombers.

You can toggle settings to ensure meeting participants need a password to access the meeting, which will further protect from disruption.

Enable Zooms Waiting Room feature, which lets meeting hosts keep would-be participants in a digital queue until they approve them to join the session. Beginning April 4, Zoom enabled the Waiting Room feature by default, requiring additional password settings for free users. Zoom has a guide to the feature on its website.

You can switch off a host of features that could be abused, if needed, including private chats, file transfers and custom backgrounds. The annotation feature, for example, could allow trolls to draw offensive shapes. You can also toggle the allow removed participants to rejoin option. Zoom has a guide to host controls on its website.

Keep your desktop app up to date, so that any patches Zoom makes to security vulnerabilities are added to your device.

If you want to be extra careful, use Zoom only on a mobile device, such as an iPad or an Android phone, because these versions go through review in the app stores.

What are some alternative platforms?

Signal and WhatsApp communications are encrypted end to end. WhatsApp allows encrypted calls with as many as four people. This is a suitable option for highly sensitive conversations.

There are also other video chatting services, such as Skype, Google Hangouts, Webex from Cisco, and FaceTime on Apple devices. Microsoft also offers powerful web, audio and video conferencing tools through its Microsoft Teams platform.

Whats the bottom line?

The reality is you cant see your friends, your classmates and maybe your co-workers right now. You cant eat at restaurants and you definitely cant go to bars. Zoom is one of the platforms people have ubiquitously adopted to replace these in-person interactions amid the coronavirus outbreak. And it works relatively well.

Its OK to use Zoom, experts say. Just be thoughtful about what youre using it for and observe a few precautions.

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Is Zoom safe to use? Here's what you need to know - starexponent.com

Quantum Technologies "made in Austria" – AIT coordinates pilot project of European Quantum Communication Initiative (QCI) – Quantaneo, the…

Magnus Brunner, State Secretary of the Austrian Federal Ministry for Climate Action, Environment, Energy, Mobility, Innovation and Technology (BMK), signed the EuroQCI Declaration on behalf of Austria in Brussels in late February 2020. In signing up to this European quantum communication infrastructure (QCI) initiative, 24 EU Member States have now confirmed their intention to create a European cybershield based on quantum communication infrastructure within the next 10 years. The AIT Austrian Institute of Technology, Austrias largest applied research organisation, has been running the first European pilot project in the EuroQCI initiative the Open European Quantum Key Distribution Testbed (OPENQKD) since September 2019. The project is aimed at deploying quantum encryption to create a secure networked Europe.

AIT expertise gained from many years of research will also play a key role in the first European QCI4EU study, which was launched in February 2020. This study aims to specify the user requirements and use cases which will drive development of the EuroQCI in close cooperation with the participating Member States. The findings will then be used to develop an overall system architecture for EuroQCI, composed of space-based and terrestrial solutions which are secure by design and will cover the entire European Union. The aim of EuroQCI is to facilitate the ultra-secure transmission and storage of information and data, and to link critical public communication assets throughout the entire European Union.

Over the past decade AIT has established an excellent international reputation as a quantum technologies specialist and coordinator of major European projects. They include the highly-competitive European Quantum Flagship programme aimed at developing quantum technologies for the mass market.

OPENQKD: quantum encryption for a secure networked Europe

In September 2019 the EU launched the EUR 15 million Horizon 2020 project OPENQKD. The findings of this 3-year project will flow directly into the EuroQCI initiative. The AIT-led consortium comprises 38 partners from 9 EU Member States, as well as the UK, Switzerland, Bosnia and Herzegovina, and Israel, consisting of manufacturers, network operators, system integrators, SMEs, research institutions, universities, certification and standardisation bodies, as well as end users, and together covering a broad range of expertise. Designed to establish a secure quantum communications network in Europe, as well as initiating a European ecosystem for quantum technology providers and application developers, the project will focus on developing a variety of demonstrators and future applications. They will include, amongst others, secure data transmission via telecommunication networks and appropriate storage in cloud infrastructures, the protection of sensitive medical information, official communication data, and the secure transmission of control signals used to operate critical infrastructure (telecommunication networks, energy supply). These activities are intended to protect Europes digital data economy against present and future threats, such as those from quantum computers, and to secure Europes strategic autonomy in the digital age. Further information: https://www.openqkd.eu

Quantum Flagship projects UNIQORN and CiVIQ

Launched in 2018 for a period of 10 years and with EUR 1 billion in funding, the Quantum Flagship programme is one of the European Commissions largest initiatives. Its goals include the development of a competitive European quantum technology industry, and establishing Europe as a dynamic and attractive region for quantum research.

The AIT-led project UNIQORN (Affordable Quantum Communication for Everyone: Revolutionizing the Quantum Ecosystem from Fabrication to Application) involves 17 partners from across Europe. It focuses on pioneering, user-focused research using photonic technologies to miniaturise quantum applications and create system-on-chip solutions. The aim is to optimise the costs of quantum technologies, making them available to the general public. Using specialised quantum-optical sources, miniaturised QKD transmission units and detector technologies on mainstream fabrication platforms, the project will provide important stimuli and breakthroughs, particularly for generating true random numbers, and thus for highly-secure key distribution. Further information: https://quantum-uniqorn.eu/aktuelle-news/

Research in the CiVIQ project focuses on the cost-efficient integration of quantum communication technologies in emerging optical telecommunication networks. A total of 21 partners, including leading telecom companies, integrators and QKD developers, are working to develop state-of-the-art flexible and cost-efficient systems for quantum key distribution (QKD), as well as novel quantum cryptography systems and protocols. In future, it should be possible to provide consumers, industry and institutions with innovative services which meet the needs of a secure telecommunications market. In this project, AIT is developing QKD prototypes and specialised software for field use. Further information: https://civiquantum.eu/

QUARTZ: quantum cryptography via satellite

Since 2018 AIT has played a significant role in a consortium coordinated by SES, the worlds leading satellite operator, which is using quantum encryption to develop a satellite-based cybersecurity system. The QUARTZ (Quantum Cryptography Telecommunication System) project is supported by the European Space Agency (ESA). In addition to AIT and project coordinator SES, the QUARTZ consortium comprises a further 8 prestigious research institutions, universities and companies. Together, they will work until 2021 to design solutions for the distribution of secure keys between optical terrestrial ground stations, each connected to a quantum-enabled satellite via quantum links, and to develop the first software and hardware components this requires. Unlimited satellite coverage will help overcome the limits of todays fibre-based QKD systems, which are only able to transmit over a range of a few hundred kilometres, while also providing a globally available cybersecurity system, including networks in geographically dispersed areas. Further information: https://www.ait.ac.at/quartz

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Quantum Technologies "made in Austria" - AIT coordinates pilot project of European Quantum Communication Initiative (QCI) - Quantaneo, the...

Hitachi Capital rolls out identity-as-a-service to handle huge rise in loan applications post-lockdown – www.computing.co.uk

Hitachi Capital is seeking to speed up the process of granting business loans

Hitachi Capital is one of the lenders being asked by the UK Government to help businesses survive the effects of the pandemic through the Coronavirus Business Interruption Loan Scheme (CBILS). As such, the financial service company has seen a massive increase in the number of applications since the lockdown started.

Applications for loans can come direct or via intermediaries such as brokers and other third parties. To verify quickly that applications are genuine, Hitachi Capital is deploying the services of Nomidio, a UK identity management start-up spun out of cryptography specialists Post Quantum.

Identity-as-a-Service (IDaaS) is a growing field in which responsibility for identifying and authenticating an individual is handed over to a third party. This means that credentials do not need to be held on the first party provider's servers, with all the security and regulatory risks that would entail. It also gives individuals more control over their online identity, since documentation and biometric credentials can be kept in one place, leaving them to grant or deny access as they see fit. Identity verification (IDV) is a subset of IDaaS which is used to ensure customers provide information that is associated with the identity of a real person.

See also: Working from home, staying secure: 14 Identity & Access Management tools to deal with the coronavirus fallout

Nomidio IDV verifies individuals through a combination of a photo-ID and biometric information such as face prints and voice recordings. In the Hitachi Capital case, users are required to upload a selfie taken on their smartphone as well as a picture of their passport. These are held in the company's cloud-based repository and protected by multi-party cryptography, with keys held on the applicant's device, meaning that no-one can access their biometrics without their consent. Nomidio IDV is available as a plugin to Avaya call centre software and also on AWS marketplace where it can be used in conjunction with the Amazon Connect virtual contact centre software.

Hitachi Capital originally deployed Nomidio IDV last year for direct sales but is now rolling it out to brokers and other 'introducers' following a quadrupling of demand for user verifications since the lockdown. "When it became clear we would need to support UK businesses incredibly quickly, at scale, as a partner in the CBILS we knew we needed a digital way to validate applicant identity for the vast majority of our business, which is handled in-directly via partners," said Jo Morris, Head of Marketing at Hitachi Capital Business Finance. "The decision was taken to roll-out Nomidio across the entire business in March and we did it in just 24 hours."

When an introducer submits a loan application on behalf of a business Hitachi Capital sends the applicant a link to undertake the Nomidio identity verification process, which involves uploading a passport photo plus a selfie. The system automatically verifies that the ID is genuine and that the photos match.

User's biometrics are protected by a "double layer of encryption", said Philip Black, commercial director at Nomidio.

"Each individual identity and the components of that identity - voice prints, face prints and so on - are separately encrypted, and the encryption keys that are used are effectively managed by the individual consumer. It's a self-sovereign identity model. Businesses using the service don't get to share the individual's identity. What they get is an attestation from Nomidio that the person is who they claim to be."

Beside security, the main advantage of the system, claimed Black, is that it does not require the user to download an app or for the business to install any additional infrastructure and so it can be rolled out very quickly.

"The whole of the identity management is delivered as a service, so there's no footprint in the business's contact centre or in their own IT estate to have to implement biometrics or customer management," he said.

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Hitachi Capital rolls out identity-as-a-service to handle huge rise in loan applications post-lockdown - http://www.computing.co.uk

PUBG Mobile 0.18.0 update will be released on April 24 with Miramar 2.0, security encryption mode and more – NewsDio

PUBG Mobile is one of the most popular mobile games and added the new Arctic Mode on the Vikendi map last week. Now, details of his next update have reportedly been leaked. The next 0.18.0 update is rumored to be released on April 24 and may bring a couple of new modes, as well as a new version of the Miramar map. In particular, these changes are present in the beta version of PUBG Mobile, which is where all the new features that come to the game are tested.

According to a Fossbytes report, the 0.18.0 update is expected to be released on April 24 and could be larger than 2GB. New features that might be present in the update include a new version of the Miramar map called Miramar 2.0, a Security Coding Mode, and a Jungle Adventure Guide Mode, along with a few other minor changes. However, these features are already present in the beta version of PUBG Mobile and are expected to hit the standard version of the game on April 14.

Speaking of the new additions, the most notable is Miramar 2.0 which adds a racing ramp to the map, a new area called Water City, a vehicle called Golden Mirado, and vending machines. These vending machines can be used to obtain pain relievers and energy drinks. Safety Scramble mode is expected to be a new EvoGround mode. In this mode, there will be a blue zone within the playable safe zone and players must remain outside this new blue zone or take damage. This is already present in the PC version of PUBG as Bluehole mode.

Upon arrival in jungle adventure guide mode, this will be part of the Sanhok map and details on it are expected in the coming days. Some of the other changes include a new results screen, a new training mode, new achievements, plus a scope for the Win94 weapon, among others.

As of now, PUBG Mobile has not made an official announcement regarding the release of update 0.18.0, so this information should be taken with a pinch of salt.

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PUBG Mobile 0.18.0 update will be released on April 24 with Miramar 2.0, security encryption mode and more - NewsDio

Bitcoin Under Pressure After Oil Prices Crash to Record Lows – CoinDesk

Bitcoin is looking weak after Monday's big crash in the oil markets.

The top cryptocurrency by market value is changing hands near $6,820 at time of writing, having faced rejection above $7,200 yesterday., according to CoinDesk's Bitcoin Price Index.

Bitcoin's fall came as the price of oil, popularly known as "black gold," tanked on oversupply fears. Notably, traders fled from the May futures contract on the West Texas Intermediate's (WTI) crude, the main oil benchmark for North America, sending prices below zero for the first time on record.

The unprecedented sell-off has injected uncertainty into global financial markets. As a result, stocks dropped on Monday with the S&P 500 losing 1.8 percent of its value. The risk-off macro-environment has again strengthened bearish pressures for bitcoin.

"The downside in BTC ismore likely attributable to losses in the equities market, which may bedirectly or indirectly affected by Crude prices, than the downward trend forcrude directly," said Matthew Dibb, co-founder of Stack.

Bitcoin has largely moved in tandem with the stock markets, in particular the S&P 500 index, from the beginning of the coronavirus pandemic in the last week of February.

The latest drop in bitcoin prices marks a failure by the bulls to keep gains above the widely tracked 100-week average at $7,054.

Bitcoin closed last week above the 100-week average, having repeatedly failed to do so in the preceding four weeks. As a result, some observers were expecting the upward momentum to gather pace. That didn't happen, as noted.

The failed breakout is accompanied by a negative reading on the weekly chart's money flow index a sign that sellers have the upper hand right now.

As a result, further losses toward $6,472 (April 16 low) could be seen.

The bearish technical setup is accompanied by continued sell-off in equities and oil. While WTI's May futures contract, set to expire on Tuesday, has risen back above $1, the June contract is now facing increased selling pressure and is currently trading near $11.80, down 40 percent on the day.

Analysts at Goldman Sachs have warned the plunge in black gold is symptomatic of unprecedented supplies. Put simply, oil is likely to continue taking a beating in the short term.

Importantly, a cash crunch seems to be gripping the markets again, as is evident from the losses in traditional safe havens like gold, the Japanese yen and the Swiss franc alongside a 0.5 percent uptick in the dollar index.

"[Bitcoin] may go down to $6,400," Chris Thomas, head of digital assets at Swissquote Bank, told CoinDesk.

However, some observers are optimistic about bitcoin's future prospects. "The [miner reward] halving should help keep a bid to bitcoin in the coming months," Richard Rosenblum, co-head of trading at GSR, told CoinDesk.

Rosenblum added bitcoin is a futuristic product that will ultimately benefit from the growing prevalence of technology in consumers' everyday lives.

Meanwhile, Stack's CEO Matthew Dibb thinks bitcoin and other major digital assets have largely remained "out of harm's way" despite the oil crash. "While BTC is slightly down on todays markets, we are not seeing any significant correlation between the market and energy commodities," said Dibb, adding the cryptocurrency will remain bullish as long as prices are holding above $5,800.

Supporting these arguments is the recent decline in the number of bitcoins held on exchanges, which suggests a shift to the long-term holding strategies.

Disclosure:The author currently holds no cryptocurrencies.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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Bitcoin Under Pressure After Oil Prices Crash to Record Lows - CoinDesk

Bitcoin Tanks After Oil’s Colossal Collapse, but the Bull Case Remains Strong – Bitcoinist

Bitcoin was in for a surprise plunge this Monday as investors assessed the situation in a worrisome oil market.

The benchmark cryptocurrency fell by 4.30 percent to circa $6,748 per token shortly after the US oil futures price slipped into negative territory for the first time. The two assets remain non-correlated, but bitcoins growing correspondence to the stock market amid the fast-spreading coronavirus pandemic might have led its prices to decline.

The Dow Jones Industrial Average slipped 2.4 percent to 23650.44 on Monday, taking cues from the oil market. The S&P 500 and Nasdaq Composite, too, plunged by 1.8 percent and 1 percent, respectively, showing that investors continued to seek safety away from risk-on assets.

Bitcoins intraday fall did not stop its prices from holding its prevailing uptrend. The cryptocurrency plunged right into what appears like its interim support before attempting a minor pullback heading into the Asian session Tuesday.

Bitcoin finds support inside the Ascending Channel | Source: TradingView.com, Coinbase

As shown in the Coinbase 1D chart above, bitcoin tested the upward sloping support trendline of the saffroned Ascending Channel. The cryptocurrency bounced back weakly by 1.01 percent to hit an intraday high near $6,925, expressing its likelihood to consolidate further in the current resistance range defined by $6,800-lows and $7,500-highs.

Meanwhile, the price located converging support in the blue 50-daily moving average wave. Bulls attempted to maintain bitcoins interim upside bias near these support levels, confirming that they still have a technical advantage against a dwindling macroeconomic outlook.

People say bitcoin is wild, commented Frank Chapporra, a former Nasdaq reporter. Throughout this [coronavirus] crisis, weve seen spine-tingling equity volatility, Treasury yields hit record lows, oil prices fall below zero, unprecedented Fed printing and bond purchasing. Right now, bitcoin might be more stable than anything else.

Bitcoins growing proximity with the US stocks remains one of the most alarming downside catalysts. The oil shock could send equities further down as the week matures. Meanwhile, investors looking to neutralize their losses could start selling the first profitable thing they see for cash.

That is troubling for bitcoin, which has surged 77 percent from its cycle low. Bulls next objective is to maintain support above $6,800. The floor could lead the prices as up as $9,000, as predicted in one of Bitcoinist earlier analyses.

Photo by Delphine Ducaruge on Unsplash

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Bitcoin Tanks After Oil's Colossal Collapse, but the Bull Case Remains Strong - Bitcoinist

New Research Says Bitcoin Price Jumps in Response to News of Clear Regulation – Cointelegraph

Researchers from the Bank for International Settlements are finding that cryptocurrency markets actually react positively to news of clear regulations.

Per a working paper released by the Dallas Federal Reserve Banks Globalization Institute on April 18, crypto prices are more responsive to regulation than their reputation suggests. While news reports of government bans on cryptocurrencies resulted in price dips, markets jumped when the regulation was clear.

The paper suggests, at the current juncture, authorities around the globe do have some scope to make regulation effective. Categorizing different news and their effect on Bitcoins price, the researchers found.

Source: Auer and Claessens

In analyzing why cryptocurrencies that operate on borderless blockchains would see price action in response to governmental actions, the authors of the paper suggest that fiat on- and off-ramps, as well as traditional institutions remain important to crypto users:

Why do news events about national regulations have such a substantial impact oncryptoassets that have no formal legal homes and are traded internationally? Part ofour interpretation is that cryptocurrencies rely on regulated institutions to convertregular currency into cryptocurrencies.

The authors of the paper, Raphael Auer and Stijn Claessens, are both researchers within the Bank for International Settlements monetary and economic department. Auer is the principal economist in the innovation and the digital economy unit while Claessens is the head of financial stability policy.

Earlier in April, the BIS called for countries to work on issuing central bank digital currencies in response to a number of payment issues that have come into focus during the COVID-19 pandemic. In February, the Bank appointed new leadership at two of its hubs for fintech research.

Cointelegraph reached out to the authors of the paper for further clarification but had received no answer as of press time. This article will be updated with those responses if they come in.

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New Research Says Bitcoin Price Jumps in Response to News of Clear Regulation - Cointelegraph

Market Wrap: Oil Futures Plunge, Bitcoin Dips and Tether Has a $7B Day – CoinDesk

Monday marked a historic moment in traditional markets, with the price of West Texas Intermediate oil futures going into negative territory for the first time ever.

Contracts for May delivery, expiring on Tuesday, collapsed below -$40 per barrel at one point. In other words, sellers were willing to pay as much as $40 to people to take a barrel off their hands. Excess supply in the midst of a massive global downturn has led to a storage problem for crude. Some traders are even making $2 offers per barrel on the spot market.

The breathtaking crash in oil prices was taken as a warning sign to U.S. stocks and bonds: a recovery, where demand for energy would put those stockpiled barrels to use, appears to be further in the distance than anticipated. The S&P 500 index slipped 1.7 percent while safe-haven U.S. Treasury bonds saw an influx of dollars that pushed two-year yields down to 5 percent. Bond yields fall as prices rise.

Gold also gained on the day. On Monday, the precious metal climbed 0.86 percent to $1,713.40 per troy ounce.

Oil also took its toll on the FTSE 100 index toward the end of its trading day Monday. Though the British equity index closed up less than a percent, it started off with strong gains but started to tumble in afternoon trading on concerns about the energy sector.

Several hour earlier in Asia, the Nikkei 225 slipped 1.15 percent. The dip arrives as Japans Ministry of Finance reported poor trade numbers, with exports declining by more than 11% while imports dropped by 5% in March.

Crypto markets

Bitcoin prices merely shrugged at the turmoil in the oil markets, slipping 4.4 percent over the past 24 hours, according to CoinDesks Bitcoin Price Index as of 21:35 UTC (5:35 p.m. EDT) Monday.

The price for 1 BTC fell below its 10-day and 50-day moving averages at 11:00 UTC (7 a.m. EDT), with trading dropping below $7,000, eventually dipping to around $6,920 levels on exchanges such as Coinbase.

The worlds oldest cryptocurrency was then able to return to the $7,000 level before large amounts of selling volume at 18:00 UTC (2 p.m.PM EDT) pushed prices down to around the $6,830 range.

Most major digital assets are primarily in the red on CoinDesks big board for the day.

Ether slipped 5.8 percent. Large losers include dash (DASH) dropping 8.9 percent, bitcoin gold (BTG) down 7 percent and bitcoin sv (BSV) dipping 6 percent. One notable winner today is stellar (XLM), in the green 1.3 percent.

Tether breaks $7 billion

The market capitalization of tether (USDT), the largest stablecoin in the cryptocurrency markets, surpassed $7 billion this past week, well more than double where it was a year ago. As tether is pegged at roughly 1:1 to the U.S. dollar, its market cap is a reflection of how much is believed to be held in assets against each coin.

With an additional 120 million printed on April 18, USDT currently has a circulating supply of 6,992,102,061 USDT. Due to USDTs slight price premium above the U.S. dollar, the current market cap is around $7 billion, according to data from aggregator Nomics. Tether says it has $7.1 billion in assets as of Monday.

Tethers price is often more than a dollar because of the convenience it provides some of its owners, according to Vishal Shah, a crypto options trader and founder of derivatives exchange Alpha5. Tether trades at a premium to USD and highlights a capital flight situation in which there is limited access to hard currency, he told CoinDesk.

Some 74 percent of all bitcoins traded on major exchanges are done against tether, according to data site CryptoCompare.

USDTs ubiquity on cryptocurrency exchanges offsets concerns traders may have about the stablecoin, Shah noted. Tether is the most easily accessed USD-proxy stablecoin, and arguably has a more colored background than some of its direct competitors.

Indeed, that background includes questions about provenance of the assets backing USDT.

Competing stablecoins like USD Coin (USDC) have independently audited financial statements showing custody accounts with dollars backing blockchain-based stable assets, the idea being redemption of one USDC equals one dollar from Centre, the group that issues the stablecoin backed by Coinbase and Circle.

Customers holding USD Coin and who open accounts with a Centre member issuer are always able to redeem 1 USD Coin for $1 USD, said Josh Hawkins,vice president for communications at Circle.

USD Coin holders also gain the assurance that the funds are fully reserved, as the Centre Consortium requires that issuers be regulated financial institutions, and also that reserves backing USD Coin are always held at 100%, he added.

In comparison, Tethers terms of service explicitly state that holders of USDT could experience redemption in some other security or asset than dollars should the stablecoin become illiquid.

With the growth of banking-friendly USDC, its clear regulatory issues surrounding stablecoins will come to a head, says David Johnston, Managing Director of Yeoman's Capital. Johnston is concerned that solvency could be a problem in the future with Tether, a problem that plagued early bitcoin exchange Mt. Gox, the aftermath of which is still an ongoing legal affair.

USDT is going the way of Mt. Gox, if they don't become either fully decentralized or a regulated extension of the central banks, Johnston told CoinDesk.

He also mentioned the 2019 draft report on stablecoin risks from a G7 working group as an indication stablecoin regulation could soon be on the way. USDT has existed in the gray area between centralized and decentralized. With these new recommendations from the Financial Stability Board it's clear that this gray area will soon no longer exist, Johnston said.

Requests for comment from Tether or Bitfinex executives were made but not returned as of press time.

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Market Wrap: Oil Futures Plunge, Bitcoin Dips and Tether Has a $7B Day - CoinDesk