Monat: Januar 2023

• The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law.
• The law defines blockchain as an immutable ledger that can record transactions and track assets using a computer network.
• Legislators behind the document defended the approach they took to include new technologies in the law, arguing that the generic way in which it mentions blockchain allows for flexibility in the future.

The city of Sao Paolo has recently taken a significant step towards embracing innovation by introducing the concept of blockchain in its municipal data access and transparency law. This law defines blockchain as an immutable ledger that can record transactions and track assets using a computer network. This allows for secure, transparent and auditable access to data.

The inclusion of this definition in the law is due to its potential to help the state complete its tasks more efficiently. The technology can be used to ensure that data is secure, accurate and easily accessible. Additionally, the use of blockchain can prevent data tampering and unauthorized access.

However, while the law mentions the concept of blockchain, it fails to define any implementation methods. This has led some experts to raise the possibility that the inclusion of this definition in the law is just accidental. On this, Marcelo Castro, a lawyer for Machado Meyer, said: “Institutions are recognizing blockchain as beneficial in the economy, however, there is no specific command saying how the technology will be used within a schedule, and this brings an enormous risk of going astray in a dead letter of law.”

Nevertheless, legislators behind the document defended the approach they took to include new technologies in the law. Maria De Carli, the author of the regulation, argued that the generic way in which the law mentions blockchain allows for flexibility in the future. This allows for the city to decide how and when it will be used, depending on the needs of the state and the development of the technology itself.

The municipality of Sao Paolo has taken a positive step towards innovation by including the concept of blockchain in its data access law. This move will allow the city to embrace the benefits of the technology while also allowing flexibility to implement it in the future.

Bullet Points:
• Cosmos (ATOM) moved closer to a key resistance level of $12.50 on Friday.
• Solana (SOL) rebounded from a key support point at $20.00.
• The 14-day relative strength index (RSI) is tracking near a ceiling of 66.00.

Cosmos (ATOM) and Solana (SOL) have both been on the move this Friday, with both tokens making gains against the US Dollar. Cosmos has been on a strong run since Thursday, when it hit a low of $11.70. The token has since moved closer to a key resistance level of $12.50, with an intraday peak of $12.38 earlier today. Meanwhile, Solana has also been on the rise, rebounding from a key support point of $20.00. The token reached a high of $21.77 earlier in the session and is currently trading at $21.43.

Looking at the technical indicators, the 14-day relative strength index (RSI) for both tokens is currently tracking near a ceiling of its own. For Cosmos, the RSI is currently at 65.85, which could lead to some marginal consolidation, with earlier bulls opting to liquidate their positions. A break of the aforementioned ceiling could signal a move towards the $13.00 price point. Meanwhile, the RSI for Solana is slightly lower, currently at 63.25, with traders seemingly preparing for a potential reversal. Despite this, longer-term bulls are still likely targeting an exit at the $24.00 mark.

Overall, the recent gains of Cosmos and Solana are indicative of a bullish sentiment in the market, with traders seemingly looking to capitalize on the recent momentum. With both tokens approaching key resistance and support levels, the coming sessions will be crucial in determining their future direction.

• Bitcoin (BTC) rebounded from Thursday’s losses, climbing back up to the $21,000 level on Friday.
• Ethereum (ETH) also rose, climbing from a low of $1,515.79 on Thursday to a peak of $1,559.55 earlier in the day.
• The move comes despite the news that crypto lender Genesis has recently filed for bankruptcy.

The cryptocurrency market has seen an increase in volatility this week, with Bitcoin (BTC) climbing back above the $21,000 mark on Friday. After falling by nearly 4% in Thursday’s session, the global market cap of the world’s largest cryptocurrency is up by 1.14% at the time of writing. Despite the news that crypto lender Genesis has recently filed for bankruptcy, the market appears to be taking a positive outlook.

Ethereum (ETH) has seen similar gains, rebounding from a low of $1,515.79 on Thursday to a peak of $1,559.55 earlier in the day. The move comes following a dead cat bounce on the RSI indicator, with price strength rebounding from a recent low. Currently, the index is tracking at a level of 74.64, which is marginally higher than the aforementioned floor at 70.0.

Analysts are optimistic that Bitcoin could make another attempt to break out of a key resistance point at $21,400. Additionally, Ethereum is continuing to move away from a recent support point at the $1,500 level. This indicates that despite the recent bankruptcy filing, the market remains bullish for both cryptocurrencies.

It remains to be seen whether the current trend can be sustained, as the market has been known to be volatile. However, the current market sentiment appears to be optimistic and it will be interesting to see how the market develops in the coming days.