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A joint venture has recently been announced between the decentralized, open-source Credits blockchain platform and Alibaba Cloud. The companies have announced the decision to develop software and hardware solutions for solving trust and payment issues on the Chinese logistics market.

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The cooperation between the Credits blockchain platform and Alibaba Cloud foresees the use of innovative business models, such as 3PL. The given model includes the installation of low-cost sensors inside shipping containers for tracking their status and movement via the immutable Credits blockchain.

“China is a thriving market of online purchased goods and the country is actively exploiting this segment. We have developed a lot of solutions that needed to be taken to improve a sector as diverse and immense as logistics in a country with a population of well over 2 billion”, as stated by Credits CEO, Igor Chugunov.

The solutions being offered by the Credits platform and Alibaba Cloud also extend to solving the trust issues of the logistics market in settling transactions between the parties to a delivery process. The Smart Payment Service using Credits platform smart contracts will be involved in monitoring and implementing monetary transactions between buyers and sellers with the involvement of delivery services providers, such as DHL or any other carriers.

 “Actually, there are a lot of aching problems in logistics right now. And blockchain offers the solution, it is the catalyst of global technology development today. Various operations can be easily reconfigured via Smart Contracts and Clouds, which is a great opportunity for customers to help themselves. Both customers and companies really get lots of benefits”, as stated by Yuli Bai, CEO of the Lenovo New Vision.

Blockchain-based software and hardware being introduced by the Credits platform and Alibaba Cloud are capable of offering innovative and technologically advanced solutions to the participants of the logistics market. The use of immutable databases and smart contracts could signify the end of lengthy settlement disputes and the introduction of accurate tracking of cargo container movement.

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Alibaba and Credits Set to Revolutionize Chinese Logistics Market with Blockchain

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Alibaba and Credits Set to Revolutionize Chinese Logistics Market with Blockchain

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A joint venture has recently been announced between the decentralized, open-source Credits blockchain platform and Alibaba Cloud. The companies have announced the decision to develop software and hardware solutions for solving trust and payment issues on the Chinese logistics market.

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Vinnie Singh

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Coingape

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cryptocoach

Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.

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The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.



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Vinnie Singh , 2019-12-03 17:45:53 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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