Bitcoin in a Week: The price of the currency has experienced a small fluctuation period and the price tends to stabilize

Bitcoin/RMB daily K-line chart Source: Huobi.com International Online Internet Finance Channel Comprehensive Report (Reporter Xu Yang): According to the quotes published by Huobi.com, the price of Bitcoin fell slightly this week (July 1-July 7), from 4,450 yuan to 4,210 yuan, a drop of 5.39%. After the rebound last week, the price of Bitcoin showed a trend of slight fluctuations this week, and the market sentiment was relatively stable compared with the previous period of crazy rise. Bitcoin production is about to officially usher in halving, so it is expected that the price of Bitcoin may rise slightly in small fluctuations next week. According to Huobi.com data, the trading volume of Bitcoin this week is basically the same as last week. As the price of Bitcoin may usher in a period of small fluctuations, the trading volume is not expected to change much next week. Industry ● After the U.S. Department of Homeland Security and the Department of Defense successively carried out blockchain research, the U.S. Department of Health and Human Services (HHS) could not hold back and is currently soliciting research documents related to blockchain in healthcare and health research. According to an announcement published in the Federal Register, HHS is seeking a white paper on how to use blockchain technology for medical purposes. The only stipulations for white papers in the announcement are that they should not exceed 10 pages and that no more than three documents can be submitted by a researcher or group. ● Swiss global bank and financial institution Vontobel has launched a new product that allows its users to trade Bitcoin indirectly. This product is a financial instrument similar to a shared certificate that is linked to the value of Bitcoin. Ordinary investors can use this certificate on the stock market. Secondary market investors can also use this certificate for trading. These certificates are also called tracker certificates, which are equivalent to the value of their underlying assets, that is, the value of Bitcoin. When the price of Bitcoin fluctuates, the value of these certificates will also fluctuate with the Bitcoin trading market. ● Recently, IBM and Crédit Mutuel Arkéa have completed a blockchain project proof of concept. The project aims to create an identity authentication system based on blockchain technology. The proof of concept phase of this project uses Hyperledger's blockchain framework to guide customers to provide identity proof to third parties (such as local public departments or retailers). According to IBM, the success of this proof of concept also shows that blockchain technology has its place in non-financial fields. ●McKinsey & Company, the world's most famous management consulting firm, recently released a report that studied whether blockchain technology will have a negative or positive impact on the insurance industry. The report concluded: "Blockchain technology is perfectly suitable for insurers to explore. But the promotion of this technology still has a long way to go, because blockchain is a distributed system, so its value depends mainly on cooperation with competitors, suppliers or others." ●The British government's Department for Work and Pensions is leading a blockchain experiment with the aim of applying the technology to the distribution of welfare benefits. It is reported that the government department has established a partnership with British financial institution Barclays Bank, the British branch of Germany's RWE Group, financial technology startup GovCoin, and University College London. ●According to the Wall Street Journal, Japan's largest banking institution Mitsubishi UFJ Financial Group (MUFG) is entering the world of Bitcoin by investing in Coinbase. According to bank officials, in order to expand its business in Asia, Coinbase is preparing to raise $10.5 million on Friday. Investors include Mitsubishi UFJ Financial Group's core banking department and a MUFG venture capital fund.