Daily Crypto News 11.06.2019.

Coinbase Earn Supports Dai Stablecoin

Coinbase has added a course on MakerDao’s stablecoin dai in its educational portal Coinbase Earn.

Dai is the first stablecoin covered by Coinbase Earn, which will offer videos and quizzes to help users learn about the token, and receive some Dai for their efforts.

The Ethereum-based stablecoin Dai is backed by its sister token maker (MKR) and is balanced to have a stable value of $1.

Coinbase Earn launched on May 18 with aim to be a solution for potential investors who are interested in crypto, particularly ones less prominent than bitcoin (BTC), but are reluctant to invest without more information:

“…one of the biggest barriers preventing people from exploring a new digital asset was a lack of knowledge about that asset. Many of the people we surveyed expressed a strong desire to begin learning about new and different crypto assets beyond Bitcoin, but didn’t know where to begin.” (Positive)

United States-Based Retail Giant is Creating an Open Source Blockchain Project for Supply Chain Tracking

According to an official blog post from the company’s VP of architecture on April 22, United States-based retail giant Target is creating an open source blockchain project for supply chain tracking.

Target ran a pilot test using blockchain technology to certify its paper products along the supply chain in 2018, according to the post. The blockchain used in the test period was reportedly made open source on GitHub recently as “ConsenSource” — at least as far back as two months ago, judging by the repository’s update history.

According to the GitHub documentation, ConsenSource is built on blockchain platform Hyperledger Sawtooth, one of the Hyperledger projects hosted by the Linux Foundation.

The post also mentions that Target will support the Hyperledger Grid, a project initiated in large part by Cargill, one of the company’s main food suppliers. Before bringing the project to the Linux foundation with Intel, Cargill reportedly took the initiative in making a “supply chain middleware” to record transactions and other data.

Joel Crabb comments on the company’s enthusiasm for keeping blockchain projects for supply chains open source, saying:

“… the largest obstacle to implementing a distributed ledger is getting multiple companies to agree on which data are stored in the blockchain and how the system will be operated and governed. To achieve this close interaction among corporate entities, many companies — including Target — see the most potential for enterprise blockchain initiatives as open source.”

Cargill announced its investment in Hyperledger Grid on January 25. The goal of Hyperledger Grid is reportedly to streamline supply chain infrastructure with blockchain technology, addressing a number of issues for food retail such as traceability, food safety and trade settlement. (Positive)

Over 300 New Bitcoin ATMs Installed Last Month – a Yearly High

Data from Coinatmradar shows that the increase in bitcoin ATM installation across the globe in May 2019 reached a 1-year high. Comparing the number of machines installed and removed during the month shows net positive growth of 228.

Operators installed 306 bitcoin ATMs during the month, bumping up the number of such machines from 4,690 to 4,898. The highest ever net positive growth as recorded by Coinatmradar is still the 256 achieve in April 2018.

This significant increase in crypto ATM installation in May 2019 coincides with the market’s best month so far in the year. Bitcoin, in particular, added more than $3,500 to its price in May, increasing by close to 60%.

Ether (ETH) remains the most popular supported cryptocurrency after bitcoin with litecoin and bitcoin cash in second and third, respectively (as far as altcoin support is concerned). More than 150 machines added support for ETH in May 2019.

As at press time, there are 4,935 crypto ATMs spread over 77 countries around the world. The United States still has the greatest number of such machines and also saw the highest number of installations in May 2019. The U.K. and Hungary had the second and third highest increase in bitcoin ATM installation for the month. Bahrain also got its first ever bitcoin ATM, currently located in Manama. (Positive)

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