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3rd Blockchain for Finance conference returns to Aviva Stadium Dublin this October

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This October 3rd & 4th sees the return of the Blockchain For Finance Conference 2018 in Dublin’s Aviva Stadium. Now in it’s third year, the event’s two days cover a series of talks on a wide range of blockchain related topics. We attended last year and it was attended by several hundred people with an interesting mix of speakers, and about a dozen companies exhibiting in the public area, so we’re interested to see how it evolves this time around, so keep an eye out if you want to say hello. The press release is also below which includes information Source: https://bitcoinsinireland.com/3rd-blockchain-for-finance-conference-returns-to-aviva-stadium-dublin-this-october/

Blockchain

FXSpotStream to Add FX Algos and Allocation Service

The demand for FX Algos is slowly increasing among institutions.

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FXSpotStream LLC announced on Thursday that it will add several FX Algo strategies, along with FX Allocation services, which will be offered via its API from the second quarter of this year.

The platform will add over 70 different Algos and more than 200 parameters offered by the liquidity providers and can be accessed by the FXSpotStream client base. The FX Allocations will allow its clients on a pre and post-trade basis to send and allocate orders from multiple accounts at the same time.

Speaking to Finance Magnates, FXSpotStream Co-founder and CEO, Alan Schwarz clarified that though the upcoming services are a ‘natural extension’ of its existing services, there is a growing demand for them from its ‘banks and clients’.

“We are an API business and today, the largest by supported volume when looking at the streaming fully disclosed offerings. We, of course, have a GUI, and later this year will have Algos and Allocations available on our GUI,” Schwarz said.

Growing Demand for FX Algos

When compared to equities, the demand for FX Algos is yet to receive mass adoption. However, demand for these services is growing.

“While the volume is still not what we see in Equities, as an example, the amount of volume that is transacted using FX Algos has and will continue to increase for the foreseeable future,” Schwarz added. He elaborated that such services are gaining popularity among asset managers and hedge funds.

Mentioning the advantage of FXSpotStream’s FX Algos, the CEO details that it will be a ‘part of a multibank service support for FX Algos over an API’, something that is not yet seen in the market.

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“We are not selecting which of our liquidity provider Algos we will support. We will support all of their available FX Algos.”

Breaching the $11 Trillion Mark

Founded as a bank-owned consortium, FXSpotStream provides a multibank FX aggregation service for spot FX trading, with extended services for the derivatives market as well.

The platform reported excellent volumes throughout 2020, resulting from the market volatility and its continued business expansion. Trading volume for the year crossed $11 trillion, with the ADV increasing 18.52 percent to $42.648 billion.

“For the third year in a row we grew at the fastest rate of all FX services in the industry,” Schwarz said. “Our growth is the result of adding new clients; growing business from our existing clients; a continual expansion of the products we offer, and the underlying functionality.”

Indeed, the number of clients on the platform jumped by 19.64 percent when compared with the previous year.

“We expect to see continued volatility in the market in 2021,” he added. “We also have another very large project we are progressing.”

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Dogecoin Reaches Parity With Russian Ruble After WSB Tweet

After getting “GameStopped,” Dogecoin (DOGE) has caught up with some national fiat currencies across the world today.

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It looks like WallStreetBets (WSB), the group of redditors that recently flipped off Wall Street by pumping GameStop’s stock, have now got “meme crypto” Dogecoin in its sights. In just one day, DOGE has already surged by up to 80%, according to crypto metrics platform CoinGecko.

“Has Doge ever been to a dollar?” tweeted “WSB Chairman” earlier today.

Around the time the message was posted, DOGE’s price surged from $0.0075 to as high as $0.0136 today. At press time, the coin is trading at around $0.0125, up 58% on the day.

Subsequently, the “meme coin’s” price has caught up with some national fiat currencies across the world. For example, DOGE is now trading at a nearly 1:1 exchange rate against the Russian ruble on various trading platforms. On Binance, for instance, one Dogecoin is currently worth roughly 1.025 rubles.

1 DOGE = More than 1 Russian ruble. Image: Binance.

While there is no clear ideological reasoning behind DOGE’s pump today—unlike in GameStop’s case—today’s shenanigans are still spreading like wildfire as users seem to be having fun just for the sake of it.

“in #dogecoin we trust … and our chief elonmusk. Let’s make it worth something .  doge is us, we are doge,” one user tweeted.

As Decrypt reported, the WSB’s pump of GameStop’s stock resulted in huge losses for some Wall Street firms who were shorting the asset and struggled to get out of the trade. The same may have happened to Dogecoin traders—if any of them were shorting it.

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Facebook’s Diem Testnet Hits 50 Million Transactions

The upcoming stablecoin contender reached the milestone a little over a month after it was renamed.

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The testnet for Diem, the Facebook-backed stablecoin project, reached over 50 million transactions yesterday, data from blockchain explorer inDiem shows. The development comes a little over a month after Diem was rebranded from the erstwhile “Libra” project.

Diem is a stablecoin—a type of cryptocurrency pegged on a 1:1 basis with fiat currencies, the US dollar in this case—aiming to disrupt the traditional payments market with its low-fee, scalable, and fast settlement features. It is run by the Diem Association and a consortium of other members, such as crypto exchange Coinbase and ride-sharing giant Uber.

Currently running in the testing phase—or the “testnet” in crypto industry lingo—Diem reached over 50 million transactions in the late hours yesterday. Such testing allows developers to mitigate faults within the network, if any, before a public release.

Transactions on the Diem testnet. Image: inDiem

Data shows the Diem testnet operates at an average throughput of over 3 transactions per second (tps). While sounding fast, this is much slower than transactions on both Bitcoin (4.6 tps) and Ethereum (15 tps), and much slower to the speeds on upcoming networks like Solana (65,000 tps). However, Diem may not be operating anywhere near capacity.

In terms of testnet users, over 221,000 individual addresses have interacted with Diem in some capacity. Of those, a single address holds over 100 million LBR (the tokens that run on Diem), while over 53 of those hold exactly 820 LBR.

In all, 57 of the top 100 wallets hold upwards of 29 LBR, while the others hold a single LBR each—likely for testing the network in various ways at various times of the day.

With testing in full flow, a public launch (albeit a so-termed “limited launch) for Diem is expected later in 2021, as per earlier reports. Meanwhile, the stablecoin has already found its takers, with music app Spotify said to already be beefing up its payments division in anticipation.

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