The name origin of Satoshi Nakamoto

In today's newsletter, we will be covering:

• Craig Wright revealing a document claiming the Satoshi Nakamoto name's origins

• Japan's top credit card issuer JCB applying DLT to its $10T B2B market

• Alibaba's newest patents allowing its consortium blockchain to be more secure and accelerated

Daily Market Summary - Bullish 

Total Market Cap: ~$199.1 billion (~3.8%)                  BTC Price: ~$7,580 (~5.3%)

24-Hour Volume: ~$84 billion (~1.5%)                        BTC Dominance: ~69% (~1.5%)

Notable movers: -

BTC is currently trading at ~$7,580, up ~5.3% over the weekend. Over the weekend, BTC contested its 100-day EMA line (4th attempt since it broke below it early November this year) and broke through it! RSI is at ~52. On the weekly chart, BTC held its 100-EMA line, a level it has been battling to hold for the past month. 

BTC is still trading within its lower highs and lower lows trading pattern/ channel/ zone it has been trading within since late June this year. It is currently testing the lower bound. 

Poll of the Day

On a scale of 1-10 (10 being most likely), how likely is Satoshi Nakamoto still alive today?

Why or why not? Share with me in the polls!  

Satoshi Nakamoto name origin?

Self-proclaimed Bitcoin (BTC) creator Craig Wright revealed what he claims is a document that explains the origins of the Satoshi Nakamoto pseudonym. 

It represents an article from digital database of academic journals JSTOR, about a person called Tominaga Nakamoto, the "Japanese Adam Smith" who lived in Japan between 1715 and 1746. Wright stated that he selected the Nakamoto name to honor Tominaga Nakamoto, who is compared to the "father of modern economics," Adam Smith. 

He also added that Nakamoto's economic ideas were part of the reason for his name choice, as he "wrote about money and honest money and the rational nature of things."

B2B payment solutions

Japan's leading credit card issuer JCB intends to adopt a new business-to-business (B2B) payment solution based on blockchain technology, and recently signed a Memorandum of Understanding (MoU) with blockchain-based commercial payments platform Paystand to form a digital payment platform for companies and customers in Japan. 

Paystand CEO Jeremy Almond said that the collaboration shows increasing demand for digital technology-powered business payments by enterprises.

The new joint development targets to reduce costs and delays linked to "pre-internet technology" still used in Japan's $18 trillion B2B market dominated by cash transactions. It also addresses some complications in the market associated with the country's consumption tax increase.

Patents to boost speed and security

Chinese internet leader Alibaba Group recently has had a 2 U.S. patents approved by the U.S. Patent and Trademark Office (USPTO), designed to make its blockchain network speedier and safer.

One patent plans to decrease the time needed to authenticate block data, and the other to help users set a validity period for a transaction in the blockchain network. 

The patent filing states that the application will "alleviate a problem in the existing technology, that much time is consumed because a verification value is calculated by using all data in a block." The other patent used to set up a validity period for a transaction would allow a blockchain network's participants to process the transaction "during a certain period of time via either a physical clock or a logical clock." 

Other news 

• A team of researchers from the U.K.-based University of St. Andrews and Saudi Arabia-based King Abdullah University of Science and Technology claim that they have created a prototype silicon chip to allow unbreakable encryption based on the one-time pad (OTP) idea. It combats against conventional encryption standards that could become obsolete soon due to quantum computing advancements.

• Arizona Congressman Paul Gosar has introduced a draft bill, the Crypto-Currency Act of 2020, to set out the type of crypto assets regulated by federal agencies.

• Ripple has raised $200 million in its new Series C funding round that will help it continue improving its worldwide payments network and the digital asset XRP and XRP Ledger's wider utility.

Crypto calendar  

TBA         - Justin Sun's lunch with Warren Buffett

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