Daily market review for 04.07.2018

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2018-07-05 13:38:05

The Taiwan subsidiary of Microsoft has partnered with Digital China and Hot Cool to share the technology of blockchain to optimize the financial, e-commerce and entertainment industries.

The program of tripartite-alliance blockchain was presented June 28 at a conference in Taipei. Sun Jikan, CEO of Microsoft Taiwan believes that the Microsoft Azure project can improve the processing power and security of Digital China blockchain services. We note that Azure is a cloud service from Microsoft, with which users can create, test, use and manage applications and services using the company's global data center network.

Jikang said: «Taiwan has first-class engineering and technical talents…whose innovative thinking cannot be underestimated. At the same time, the country has a good manufacturing and research base and an excellent geographic location with excellent conditions for developing blockchain applications».

The founder of Digital China Sun Yutao is called "the creator of Goldman Sachs in the field of blockchain." Nevertheless, the company originated from the Legend Group, which in 2001 was renamed Lenovo. UTAO actively studies the blockchain technology since 2014. He believes that the blockade should be combined with the Internet of things, biometrics and artificial intelligence. In this interaction, he sees the optimization of business opportunities on the Taiwanese market.

The general director of the company Hot Cool Wu Jifu said that the partnership concluded represents the best model of future solutions based on the blockchain technology. His company is engaged in the provision of cloud services, acting as an intermediary between corporate and public cloud providers. Jifu believes that blockchain technology from Digital China, Microsoft Azure cloud services and Hot Cool services should form an excellent project.

However, the details about the specifics of the new partnership have not yet been reported. It should be noted that this is the second union, concluded by Microsoft in June. The first cooperation agreement was signed with the company Ernst & Young - together they plan to launch a blockchain platform that follows copyrights to the content.

And now let's turn to the technical analysis of bitcoin (BTC):

The bitcoin rose to a resistance level of $ 6,750, as we expected, but then corrected it down. The weakness of buyers in bitcoin is alarming, although everything is still going on within the uptrend. We assume that the lack of buyers will provoke its further correction. In a word, time will tell. The nearest resistance level is 6750 $. The nearest support level is 6370 $.

Technical Analysis of Ether (ETH):

Ether justifies our yesterday's forecast, the сryptocurrency could not grow to the next level of resistance 500 $. And now it tramples in the range of 450-470 $. We are more inclined to expect a correction downward than growth. But, it takes time to clear up the situation. The nearest resistance level is $ 480. The nearest support level is $ 460.

Technical Analysis Ripple (XRP):

Ripple tried to grow, but could not overcome the level of 0.50 $. Now it tramples in the range of 0.47-0.49 $. If a buyer appears in it, then the price is likely to go up sharply. But if the Ripple goes down, the nearest support level will be $ 0.45.

Disclaimer. This review is only for information purposes and cannot be considered as a proposal or an indication to perform certain transactions in the financial and commodity markets. The estimates and recommendations in the review are the personal opinion of the company's analysts. The company's view on the prospects for individual financial instruments is valid as of the date of the report. The Company does not assume any liability and liabilities for compensation for damage that may result from the use of this report.
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