4 Cryptocurrency trading charts to trade smart on the Mainbloq
We have a lot of data here at Mainbloq and we believe that the more data we can supply to our customers the better decisions they can make when they trade. Today we’re thrilled the release some of that data to EVERYONE with Mainbloq Charts.
Our charts showcase some of the data we have as actionable information. Mainbloq is an all-in-one platform for digital assets providing a suite of tools to consolidate real-time data across multiple venues, and to translate data into information and algorithms for best execution of user-defined trading strategies.
Read below to see descriptions of the charts we have available for your use. To see our charts go to https://mainbloq.io/charts/
Order Book Live View
With this chart you can see where market depth is currently quoted. The venues are color coded and displayed in pie charts for bids and asks, as well as a depth chart. All prices are normalized to the “stable price”, which accounts for the exchange rate of the stable coins.
How to use it:
- Enter Currency Pair and press go
- Use mouse to zoom in Combined Depth (you can reset zoom)
Historic Volatility Explorer
With this chart you can explore the historic volatility of an asset. Volatility is an important measure to inform trading decisions indicating the potential price variability over time.
See the trends in historic volatility alongside price movements. Recalculate the Historic Volatility with differently sized dolling windows to smooth or enhance details.
How to use it:
- Adjust Slider to re-scale rolling window of calculating volatility
- Switch between Log and Linear Scales
- Pan with Date Range selector at bottom to Zoom to area of interest
Volatility Distribution
With this chart you can explore how volatility is distributed. We take the daily historical volatility distribution, compared with Kernel density and the normal distribution.
How to use it:
Slide the time window to see how volatility has been decreasing over the years, in crypto.
Volatility by hour
With this chart you can explore the volatility of an asset by hour in the day.
Time is based on UTC (London) and it looks at last 10 weeks of data (more data is available with subscription)
How to use it:
Red line = mean
Box top/bottom = 1 standard deviation
Tails = 2 standard deviations
Dots = outliers (capped at 300%)
7 Technologies Disrupting Finance Industry
In recent years, people have experienced the wonders of modern technology when it comes to managing their finances and accessing financial services. This trend is only expected to improve and continue with the advancements in technology like AI, cryptocurrency, blockchain, VR, and AR, among many other things.
But getting to this point has been a bit slow for the financial industry as compared to other industries who have arguably fewer developments in the technology department.
It’s understandable for the financial sector to have a slower response in the digital disruption due to the sensitive data that they hold.
There’s also the issue of established legacy systems that they have relied on for years. Something that newer and more agile financial companies are not facing due to less dependency on the system. These FinTech companies have the luxury of constantly re-evaluating and re-organizing their business model to give modern solutions to modern financial problems of customers today.
Rules and regulations have also hampered down the advancement of traditional financial companies. Most regulating bodies still don't know the capabilities of some of these technologies and the negative impacts they might have on both the ecosystem and the customers.
Despite these obstacles and due to the fast-changing behavior of customers and increasing competition from FinTech companies, a lot of financial companies have no choice but to digitally transform to provide the best service to their customers
Since fintech companies, normally, don't fall under the jurisdiction of these regulating bodies, they have been pushing the envelope and have experienced successes in implementing them. A great example of this is cryptocurrencies like Bitcoin and Ethereum that have experienced tremendous growth in the last decade. Now, traditional companies are exploring how they can use cryptocurrencies and blockchain technologies to carry out traditional tasks that are considered rigid, slow, and insecure. Some companies have also started accepting cryptocurrencies to pay for specific services.
We could say that, somehow, traditional financial companies are trying to keep up with the changes. But if they continue at this pace, they will always find themselves lagging behind modern and more flexible service providers. Soon they'll find that traditional financial advisors may not be as effective as an AI who can predict the most ideal investment streams or that people don't want to be bothered driving to physical banks since financial transactions can now be securely done through mobile phones.
The key to the industry's survival is to spearhead the implementation or experimentation of these technological tools instead of waiting for the next move of technology companies.
In this infographic created by Prototype, a digital transformation company, you'll see a list of modern technologies disrupting the finance industry, the factors driving these changes, and trends these companies should watch out for.
Infographic by: Prototype
Taxing Crypto: Currency or Commodity?
The world saw its first bona fide cryptocurrency in 2009 with the advent of Bitcoin. Since then, cryptos have taken the realm of fintech by storm. Its rise in popularity billowed so rapidly, in fact, that nations are unsure how to regulate it. The truth is, cryptocurrency is such a novel technology that we still don’t quite know how to handle it.
Should we consider cryptocurrencies commodities or actual currencies? The answer to this question is not so simple. In fact, tax regulations around the world differ on the interpretation.
Our current understanding of cryptocurrencies is that they can basically be either, depending on how they’re used.
Crypto as Currency
As the name itself implies, cryptocurrency can function much like fiat money. By that token, one may use them for the purchase of goods and services (in some countries, anyway). They may also be exchanged into other currencies, making them functionally the same.
So that settles it, right? After all, cryptos do everything money does, for the most part. Well, not quite. While they may operate like currency, and intuitively it makes sense, some traits make cryptos difficult to classify as currency.
For one, it is a decentralized currency. In other words, it is not tied to any third party authority (country, bank, etc.); there’s the sender and the receiver, nothing more. This stands in stark contrast to how traditional money has worked up until now.
Secondly, cryptos cannot be produced arbitrarily according to a country’s current economic state. It instead requires “mining,” and only a fixed amount of them exists. This makes cryptos more of an asset, like gold.
Crypto as Commodity
From a certain perspective, cryptos can also be considered a commodity. Granted, the line between currency and commodity is quite fine. The key difference between the two is that the former acts as a clear-cut facilitator for exchange which quantifies the value of an item or service.
That being said, a cryptocurrency does possess fungibility, i.e. the ability to be interchangeable with other commodities on the market. Beyond that, commodities can afford to be volatile, whereas currencies don’t have that luxury. Having in mind Bitcoin’s value history, it certainly fits the profile of a commodity.
This view certainly isn’t without legal precedent. In early 2019, Indonesia greenlit legislation that treats Bitcoin as a commodity for trade. Meanwhile, the Australian Tax Office (ATO) suggested the same ruling on the matter for other cryptos as well, rendering them subject to the Goods & Services Tax. Australia ultimately dubbed Bitcoin as money.
The main idea that stops cryptocurrencies from being pure commodities, however, is the idea of value. Commodities have intrinsic value, like crops, for example. Cryptos, on the other hand, hold only the value that current market expectations give them. It’s only worth what it can buy, and nothing else.
In the Eye of the Beholder…
As things currently stand, crypto seems to dip its toes in both ponds, performing as both commodity and currency. And until we reach a deeper understanding of crypto, regulation cannot consistently come to the same decision on the matter. Thus, for now, it’s up to each individual country to make up its mind about this conundrum. Until then, take a look at this insightful infographic below:
SWIFT pilots a payment tech system to take on fintechs and blockchain tech
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has announced its decision to launch a pilot Global Payment Initiative (GPI) service which aims to compete with the growing threat of competing blockchain and fintech solutions provided by institutions like Ripple, JP Morgan and Transferwise.
Still in its initial stages, the ambitious pilot aims to “build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”
A recent GPI test, was successfully conducted in October, carrying out instant cross-border payments with banks in China, Singapore, Thailand and Australia. Equipped to enable speedy identification and elimination of errors and omissions in payment data such as missing or incorrect beneficiary information or incomplete regulatory information, SWIFT hopes the GPI payments service will enable speedy and seamless transactions, thereby reducing delays and costs, as well as improving customer experience.
Taking on Blockchain’s Threat
With the move, SWIFT has turned its attention to containing the threat of blockchain-based fintech startups offering...
JPMorgan’s focus on blockchain is part of their digital transformation roadmap
A study into JPMorgan’s digital transformation initiatives has revealed that blockchain is a key technology for the bank’s roadmap, according to a press release published by ResearchAndMarkets.com (RM) October 3.
RM has analyzed JPMorgan’s enterprise-wide strategies to secure its “competitive edge” against rival banks, non-financial firms, and fintech startups. The bank has reportedly earmarked $10.8 billion for technology spending in 2018, $5 billion of which will go towards fintech investments.
The study covers JPMorgan’s digital transformation roadmap, with blockchain listed as the first in a range of bleeding-edge technologies that are being pursued by the bank — including big data, cloud, artificial intelligence (AI), and robotics.
It...
Blockchain Technology And The Disruptions It Is Causing In The Financial Industry [infographic]
The cryptocurrency industry has given birth to a whole host of interesting and useful technologies. One such technology that is making a huge difference in many industries is the blockchain technology.
This type of technology facilitates online transactions and it could potentially revolutionize the way that the financial industry operates. This article and infographic look at what the blockchain technology is and how it is causing disruptions in various industries.
What Is The Blockchain Technology?
Blockchain technology can be used as an online transaction facilitation. This technology uses a public ledger to record transactional data, and the process is sent through a peer-to-peer network. The transactions are encrypted and there are no centralized control or middlemen.
Basically, a blockchain transaction is conducted in the following way. The instigating party sends a transaction request through the peer-to-peer network. This transaction request is authenticated on the blockchain public ledger and added to it as a new block of data. This data is then passed through the peer-to-peer network to the recipient and finalized.
The following facts are some of the benefits of blockchain based transactions:
- The decentralized nature means no central control
- The lack of a middleman means lower transaction fees
- Encryption means greater security
- The peer-to-peer network means faster transactions
As you can see, blockchain offers many benefits. Generally, blockchain based transactions are faster, cheaper, and more secure than traditional online transaction methods.
What Industries Are Already Using The Blockchain Technology?
Currently, the most widespread use of blockchain technology is the authentication of cryptocurrency transactions. This is essentially what makes cryptocurrencies possible, so any person that participates in crypto coin trades, gambles at an online Bitcoin casino or even uses Bitcoin to pay products and services is directly dependent on blockchain tech. Whilst this technology is still in its infancy, it has already progressed hugely and many industries are actually experimenting with it in some interesting ways.
Possibly one of the most interesting implementations of the technology is what the government of Sierra Leone has actually this year. It held a blockchain based elections, which created the first-ever public vote that couldn’t be refuted or disputed. Due to the blockchain public ledger, each vote is recorded and there is irrefutable proof of its creation and content.
Blockchain technology is also being used in the energy supply industry, charitable organizations, cloud technologies, and even supply chain management, to name a few examples. As this type of technology develops and becomes widely accepted, we should only see an increase in its usage.
Furthermore, we should see a greater variety of different uses for the blockchain technology. It is clear that the financial industry must pay heed to it, as it could supersede traditional online payment methods in the future.
The infographic below provides additional information about this type of technology:
IBM Debuts 'Blockchain World Wire' Payments System Powered by Stellar
Every quarter we are seeing more Fortune 500 companies making headway into the blockchain with patents and beta testing.
IBM is taking its long-in-the-works blockchain-based payment system out of beta, with the launch of a new product called Blockchain World Wire.
Aimed at institutions and harnessing the stellar blockchain network, Big Blue says its new financial rail "can simultaneously clear and settle cross-border payments in near real-time."
Similar to other blockchain-based payment networks such as Ripple, World Wire attempts to do away with banking intermediaries that add complexity and cost to the traditional international payments systems.
According to a document provided by IBM, the product works by substituting the banking intermediaries normally needed for cross-border payments with digital assets sent over a distributed network.
The company says on its website:
"Two financial institutions transacting together agree to use a stable coin, central bank digital currency or other digital asset as the bridge asset between any two fiat currencies. The digital asset facilitates the trade and supplies important settlement instructions."
Effectively, using World Wire APIs plugged into banks' existing systems, fiat currency is exchanged into a digital asset at bank A. It is then transmitted to bank B, where it is converted into a second fiat currency. "All transaction details are...
Matic Network Instant Blockchain Transactions: Token Sale
Scalable and instant blockchain transactions. Matic Network brings massive scale to Ethereum using DPoS side chains.
Matic is a solid idea and one of the few plasma implementation side chain projects that exist today.
Strengths:
1) The project has already been endorsed by Decentraland with the Decentraland CTO Esteban Ordano one of the advisors on Matic panel.
2) They have already partnered with Parsec Labs which won the Ethereum Foundation Scaling Grant. Goes to show that the Matic and Parsec teams are moving on the right track to...
Fintech Chamber in Uruguay to Propose Crypto Regulations
TheTokener recently reported about the hardships South America’s crypto community is facing. This region of the world is desperately seeking for certain regulations. There will be a lot of potential for Fintech companies and crypto-related businesses in South America as people are beginning to realize new opportunities that might arise from these innovations. In the midst of confusing banks and governments actions towards crypto space, Uruguay might bring new regulations that could serve as a spark for other countries to regulate their crypto space, creating one fully regulated crypto market consisting of all South American countries.
New Uruguay Regulations
As BNamericas reports, fintech chamber in Uruguay is about to form a special committee which will have a task to propose certain cryptocurrency regulations in the country. This committee should work with the authorities in the area of laws in order to find the best solution for growing crypto community.
Sebastian Olivera, Uruguay fintech chamber founder, and their former president stated that new cryptocurrency drafts will need to pass through established institutional channels. Olivera also said that they realize that there cannot be any activity developed outside of the reach of the regulatory sphere, especially regarding...
Prominent KPMG Strategist Joins XinFin Hybrid Blockchain for Global Trade and Finance
S.V. Sukumar, formerly of KPMG, (head of strategy and operation consulting) is now with XinFin. Here’s the press release. Here’s the XinFin white paper. XinFin is an open source hybrid blockchain protocol. Its goal is to “help address the inefficiencies that exist in the global trade and finance markets today.”
What inefficiencies? Chiefly those that result from the inabilities of micro, small, and medium-sized enterprises (MSMEs) to avail themselves of the financing that is available to the top end of the range of enterprises. Its prime use business cases include wallets, financial applications for cross-border payments, remittance sale, and so forth.
The white paper also observes that “across southeast Asia and the Pacific region, more than 120 million MSMEs, including both formal and informal ones, are unserved or underserved in terms of credit facilities.”
Sukumar is welcome aboard into a world where thinking big, on that scale, is taken for granted. The press release says that he’ll be responsible for “demystifying the underlying advantages to create concrete awareness.” That sounds like a bit of a concession that there is something mystifying about XinFin’s business plans in his absence. The best of luck to them, though, and to their new arrival.