Daily market review for 14.06.2018

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2018-06-19 12:13:05

Bitfury Group is going to create a blockchain application that will help companies comply with the new EU rules on the principles of the personal data protection. The company marks it as the world's first technical platform designed to protect the risks associated with the processing of personal data.

The tool for the storage and protection of personal data Bitfury fully complies with the new EU General Data Protection Regulation (GNP), which came into force in May 2018 - now companies will be able to process personal data only subject to users' consent.

The new rules apply to all companies that in some way deal with the storage or processing of personal data of EU citizens: websites, social networks, messengers, mobile operators, and large data centers, IT companies and outsourcing providers.

“The Bitfury platform offers a turnkey solution for companies that fall under the new EU regulation,” Valery Vavilov, co-founder of the company, said. “Our solution is aimed at making companies faster, safer and cheaper to comply with this requirement, which, in turn, will give users greater confidence that their personal data is protected properly.”

This open source software is built on the Exchon blockchain platform, which allows you to create an unchanged registry of all actions with user data, which is one of the requirements of the GDPR.

The built-in data protection mechanism of the platform is based on a permanent backup of all actions that require claims from interested users, whereas cryptographic confirmation is required for all operations. To prevent data leakage, the platform supports end-to-end encryption.

“Bitfury's solution guarantees the removal of personal data of users and encryption keys after the expiration of the period of personal data storage. Cryptographic proof will allow users to check the facts of the storage or deletion of their data using a specialized interface,” the developers report.

Now, let's move to the technical analysis of bitcoin (BTC):

Bitcoin fell again from $6,370 to $6,220. Now it stopped at this level, after which it turned around and started to grow. Now bitcoin is fixed above the level of $6,370. This is a very good signal for further overcoming of the next resistance level of $6,640. As we predicted yesterday, the Fed decided to raise the rate to 2%. Yesterday, the S@P500 index began to fall as it was expected. The next resistance level is at $7,350. We expect a further upward movement of bitcoin.

Technical analysis of Ethereum (ETH):

Ethereum looks more convincing than bitcoin, it pushed away from the level of $460. And it started to grow as it was expected. There is every chance that Ethereum will grow to the level of $500. The next level is $590. But it seems to us that Ethereum will not reach it at once, it will take several trading days.

Technical analysis of Ripple (XRP):

Ripple follows our script. It surely grew from the level of $0.50 to a mirror resistance level of $0.55. The next level is $0.60. If it goes higher and reaches the level of $0.66, then it will surely go to correction and will fall to the level of $0.60. In general, we look positively at the further growth of the ripple.

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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