Over the course of last week and the weekend, Bitcoin experienced somewhat of a price recovery.
But the best part of last week’s news was crypto mining equipment’s use in coronavirus research.
Bitcoin’s New Bank
Hype, a mobile bank in Italy has partnered with fintech startup Conio. Customers of Hype will be able to use their Hype banking app to buy, sell, and store Bitcoin.
According to Hype, they added Bitcoin after requests from their customers
This could be another step towards banks adopting.
Do you know any bank or startup considering adding crypto to their existing services? Hit us up.
Weaving the coronavirus out
Ethereum’s largest miner in the USA, CoreWeave, is using its processing power for coronavirus research.
Its processing power which consists of 6,000 specialized computer chips that will be used by Stanford University research project, Folding@home.
The project aims to boost coronavirus research through a unique approach to developing pharmaceutical drugs.
Like Bitcoin, Folding@home is a decentralized project. It enables research firms to use computers of participants to do disease research. Even you can add your computer’s processor to the project from wherever in the world you are.
We hope that CoinWeave’s contribution would lead to a faster solution to the coronavirus epidemic.
Bitcoin and the World of Search
We usually expect that the fall in crypto prices would see a drop in searches for Bitcoin. But that’s not always the case.
Although crypto prices hit a 10 month low, searches for “Buy Bitcoin” has increased. This is according to data from Google, Twitter and Baidu.
According to a study searches for “bitcoin” and “buy bitcoin” are up 183%. The study also indicates that “blockchain” and “ethereum” searches rose.
Statistics show that people are more interested in buying bitcoin than selling.
We suspect that people are having a rethink of their investment assets which is driving the increase in searches.
Have you bought Bitcoin yet?
100 best designs
Fortune Magazine joined up with the Illinois Institute of Technology to create a survey to find the best-designed products of modern times.
Guess what featured on the list?
Bitcoin at number 90. Here’s what David Kelley, founder of IDEO had to say about Bitcoin.
“Bitcoin wasn’t invented, it was designed so that a wide range of stakeholders—developers, investors, businesses, miners, individuals—all had incentives that reinforced adoption of a new digital currency, without any central issuer or governing authority. In just over 10 years since it was released, it is now worth nearly $200 billion and is used by millions of people in countries around the world. I don’t think any product in the history of the world has bootstrapped quite so effectively.”
We love the way David put it, especially the last sentence.
Although Bitcoin should have been higher up the list somewhere in the top 20 along with Google search, the iPod, Sony Walkman and Uber. What do you think?
Bitcoin and Italy’s Red Cross fundraiser
On March 12, Italy’s Red Cross launched a BTC fundraising campaign to buy advanced medical post for pre-triage coronavirus cases.
In 3 days it announced that it had achieved its goal of $10,710 (€10,000) and started purchasing the materials needed to deploy the pre-triage facility.
The Red Cross continued its Bitcoin fundraising campaign and set a goal of almost $26,000 to get equipment for emergency operations. If you would like to contribute you can click here.
To wrap up last week’s top news here’s a website we discovered for places to visit this weekend.
Stay safe, stay sound!
