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Gold-Backed Russian Crypto Could Crush The USD Standard

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Gold-backed Russian crypto is still under exploration and the possibilities of developing it are high in order to be used as a cross-border settlement alternative for other countries and we read more about it in the coming altcoin news.

Due to the heavy sanctions from the United States, the potential of the value of gold-backed Russian crypto could help the country escape from the usage of the Dollar as the main currency standard. Russia’s State Duma member Vladimir Gutenev proposed the creation of the cryptocurrency and he suggested that the pegging of the value to gold could alleviate issues related in cryptocurrencies and that this idea could be linked to a stablecoin.

Russia has been on standby on gold reserves as a way to fight the US Dollar and by boosting the reserves could allow the country to diversify foreign exchange and to reduce the high reliance on the US dollar. This has been a policy of Russia for quite some time. The central bank also reported that back in May their gold holdings reached up to $492 billion. The idea of tokenizing of their stores would give them much more freedom and power with the value of the gold reserves. Cryptocurrencies that are launch by the central bank are still met with high resistance.

The head of the Central Bank of Russia Elvira Nabiullina stated:

 “As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”

Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:

 “The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”

As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.

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Altcoin News

HoloChain Price Analysis Shows Altcoin Has Unrealized Potential

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holochain price analysis
The Holochain price analysis shows that the altcoin has a bullish short-term bias but also a bearish medium-term trading outlook since the four-hour time frame shows that a bullish inverted head and shoulders if forming while the daily time frame is showing a huge inverted head and shoulders pattern in play. Let’s check out the analysis below in the coming altcoin news.Holochain has been improving over the past few weeks and the cryptocurrency racked up an impressive 20 percent gain since the start of the month. What is even more impressive is that the HOT/USD pair performance since September ended, allowed the altcoin to add just over 50 percent to the trading value. Since the start of 2019, the Holochain price analysis shows that the altcoin added more than 120 percent but it did trade down by more than 60 percent from the 2019 trading peak.Holochain is in a good position to build the recent trading gains even further and according to the short-term technical analysis, the altcoin is now probing against the neckline of the bullish inverted head and shoulders pattern with a slight upside projection that could add further up to 50 percent to the value.The daily time frame shows that a rally of about 15 percent is much needed before the HOT/USD pair claims the bullish status. The mentioned time frame also shows a huge inverted head and shoulders pattern but a rally towards $0.001650 level is needed in order for a bigger bullish pattern to be created in the daily time frames. Holochain can even test beyond the best levels of 2019 if all of the patterns play out to the fullest potential.According to the latest sentiment data, the short-term sentiment for Holochain is standing at about 68 percent while the overall long-term sentiment is very strong as well reaching 79 percent. The four-hour time frame shows that a huge inverted head and shoulders pattern is forming and the pattern has an upside projection of about 50 percent. The key technical resistance of the pair is slightly above the $0.001050 level and the four-hour time frame shows that the pair has also a very strong short-term technical support.The daily time frame shows that a move to the $0.000800 level could be bearish for the cryptocurrency and could even break it towards the September trading low.
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Altcoin News

UK Travel Company Starts Accepting BTC For Booking Flights

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Alternative Airlines is the name of the latest travel company which makes headlines in the cryptonews section. As the updates show, this UK travel company has partnered with the cryptocurrency service Utrust to facilitate payments with crypto.On November 13, the Switzerland-based firm and digital payments processor Utrust announced a new partnership with the first merchant in the travel industry - Alternative Airlines. Both of the companies plan to provide their customers with the ability to book flights while paying with cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Dash (DASH), DigiByte (DGB) and the native token that Utrust has, UTK.The collaboration between the digital payment processor and the UK travel company also introduces the start of instant cross border transactions. What's most exciting is the fact that travellers will be able to use their crypto holdings to book flights.Besides this, however, there will be extended buyer protection and crypto-to-cash settlements to the clients of Alternative Airlines. The UK travel company website for now allows customers to search from over 650 airlines including Delta, United, British Airways, Virgin and Emirates, among others.This gives travellers a lot of options, of course. The CEO of the UK travel company Utrust, Nuno Correia, expressed his enthusiasm for the new partnership, stating:
“For business or leisure, flight travel can be expensive with consumers saving for months to afford a trip. Considered a high ticket item, it is imperative that consumers are protected when booking flights. Utrust is providing Alternative Airlines’ customers with the increased security and convenience of cryptocurrency payments, and reducing processing fees, to bring greater transparency and trust to the world of online payments.”
Obviously, the Bitcoin news now show that BTC will be the main option for people interested in booking flights with the UK travel company.Before this, reports in August showed that the Portuguese sports club SL Benfica also partnered with Utrust to facilitte payments via cryptocurrency for tickets and merchandise. In a similar way, the new payment option will allow travellers of Alternative Airlines to buy plane tickets with Bitcoin (BTC) as well as the native Utrust token (UTK).The news also showed a spike in the price of Utrust (UTK) which is now at $0.0191 with a 3.42% daily increase following the partnership.
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PLA Media Of China Advises To Pay Soldiers In Cryptocurrency

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PLA
The People’s Liberation Army’s (PLA) media outlet is calling for crypto rewards for its soldiers to have better performance; this is another example of the Chinese revolutionizing the view of crypto. So let's find out more in the cryptocurrency news today.Some kind of crypto could be used as a rewarding performance assessment by the PLA  suggested a new article in the army medium PLA Today, measuring how soldiers progressed in military training, how well they completed the tasks and other criteria.The article suggests that that kind of system could “award or deduct tokens according to one’s daily performance and thus generate an objective assessment would effectively energize human resource management.”Also, there were other propositions for the military use of blockchain technology to improve data security and logistics. One proposition suggested storing classified military data on a blockchain-based embedded system that will result in a higher level of encryption and security. The consequence of this will be constraining access to data kept on the said system to read-only, resulting in the possibility to distribute and view, but not copy or manipulate the material.It is implied that the use of blockchain technology would result in improved accuracy and efficiency of tracking soldiers’ progress in training. The document further explained an example of the electronic shooting range that is able to detect once a target was hit and to generate a blockchain record for the trainee. This will increase the authentic of the training results and will also provide a technological guarantee to ‘’clean and open training and examination.’’The publication of Libra’s whitepaper in June wreaked havoc in the People’s Bank of China (PBC), making them to drastically speed up the development of its planned central bank digital currency. But it was the declaration of the critical importance of blockchain by the President of the People’s Republic of China Xi Jinping that has caused a complete turning of the Chinese stance on the technology and crypto. Xi explained:
 “The integrated application of blockchain plays a critical role in technology innovations and industrial revolutions. Blockchain should be made an essential way and main direction to drive China-led technology innovation. We must increase investments in the blockchain sector, resolve critical technical problems, and accelerate the development of blockchain and industrial innovation.”
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Fidelity Investments Welcomes New Expert: Focusing On Strategy

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The major financial services company Fidelity Investments welcomes a new member in its team this month. The company has hired Michael Zinaman as its product specialist in order to further develop a range of products in the company.As we can see from reports by the Block now featured in the cryptocurrency news, Zinaman had joined the financial services company Fidelity Investments and will reportedly oversee the strategy on cryptocurrencies, custody as well as execution services.As Fidelity Investments welcomes the new team member, we can see that he is not actually that new to the firm. Zinaman started the new position as a product specialist at Fidelity over a month ago, where he was hired in order to focus on the company and its cryptocurrency strategy.As a source familiar with the matter said, Fidelity Investments welcomes Zinaman as a product specialist now after seeing what he can do and proving his knowledge. By looking at the LinkedIn profile of Zinaman, we can see that before being hired by Fidelity, the product specialist worked as a managing director of blockchain and digital assets at Canaccord Genuity. Before this position, he was a senior vice president at Imperial Capital - the full-service investment banking firm.Fidelity Investments welcomes Zinaman in an attempt to get the entire strategy for its newly launched cryptocurrency custody service fully reviewed. He will apparently oversee everything and ensure the best case scenario. The CEO of Fidelity Investments, Abigail Johnson, recently revealed that the company is ready to roll out its crypto custody business after a year-long preparation and accumulation of clients.Days before this launch, Kathleen Murphy who is the personal investing president at Fidelity Investment, expressed her confidence in the company's careful approach when it comes to trading cryptocurrencies.
“You know, we’re really careful about that. So while we embrace crypto in terms of trying to understand it and be innovative and thoughtful… We’re also very careful about where we offer those types of things, so they’re not offered broadly on the retail platform. We want to be very careful about making sure that investors who really aren’t institutional investors [...] don't make a mistake with cryptocurrency,” Murphy noted
As you can see, she was also pointing out to the fact that the firm does not offer crypto on retail trading platforms to protect its clients.
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