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The cryptocurrency market has rebounded over the past 24 hours by around $17 billion, from $365 billion to $382 billion. Major cryptocurrencies including bitcoin, Ether and EOS increased in the 3 to 7 percent range, pushing the cryptocurrency market towards the $400 region. Ethereum and Tokens Ether, the native cryptocurrency of the Ethereum blockchain network, Continued
The post Cryptocurrency Market Rebounds After Poor Week, Ether Gains 5% and Aelf Rises 17% appeared first on CCN
Japanese exchange Coincheck has confirmed that it is delisting three privacy coins: monero, dash, and zcash. Augurs reputation token will also be delisted next month. The exchange made this decision after receiving a business improvement order from the countrys financial regulator following the NEM hack.
Following reports that Coincheck was going to delist monero (XMR), zcash (ZEC), and dash (DASH), the exchange has now confirmed that those cryptocurrencies will be delisted along with Augurs reputation token (REP).
The four cryptocurrencies will be delisted on June 18, Coincheck emphasized, adding:
The target currencies [XMR, ZEC, DASH, and REP] held on the discontinued date will be sold at the market price and converted into Japanese yen.
The sales proceeds will then be credited to the customers accounts. Before that date, customers can sell or transfer these cryptocurrencies. The exchange says it has received many transfer requests, warning that it may be several days to complete the transfers....
This weeks news was dominated by stories out of Blockchain Week
and the Consensus 2018 conference held in New York City. There was
free beer served from an ID-validating dispenser, Warren Buffet was
criticized for his rat poison view of cryptocurrency, and there
were plenty of business announcements, including news from eToro,
Netki, Bitmain and Circle. Catch up on these stories and more in
this weeks Bitcoin Magazine review.
Featured stories by Amy Castor, Colin Harper and Kyle Torpey
Stay on top of the best stories in the bitcoin, blockchain and cryptocurrency industry. Subscribe to our newsletter here.
In his 2018 annual shareholder meeting at Berkshire Hathaway recently, Warren Buffet referred to bitcoin as rat poison. Venture capitalists Fred Wilson and Balaji Srinivasan had a chat with Wall Street Journal reporter Paul Vigna on the mainstage of Consensus 2018. The pair of tech investors pointed out the differences between Buffetts approach to investing and how the crypto asset market works.
Blockchain identity verification platform Civic has emerged from Consensus 2018 with a project that imagines a network of validators and service providers who work together to verify individual identities. Conceptually, new users would put identity information on a smart contract that would get validated with references on the blockchain that attest to its validity. Then service providers can request to validate said information, which would streamline ID checks and help prevent against fraud.
Civic showed a working proof of concept using their Civic app. Anyone verified on the platform can scan a QR code to prove that theyre of legal drinking age. In a partnership with Anheuser-Busch, Civic unveiled the vending machine at Consensus 2018, offering anyone who used it a free brew from the worlds first crypto beer vending machine.
Los Angeles based Netki just made it easier for companies launching token sales to onboard their customers in a way that...
WSJ report says Coinbase spoke to U.S. regulators about getting a banking license
Moldova, an impoverished Eastern European country with a population of 4 million people, may soon emerge as an unwitting brand ambassador for cryptocurrency-powered, eco-friendly renewable energy. The United Nations Development Program has partnered with South Africa-based blockchain startup, Sun Exchange, to power one of Moldovas largest universities, the UNDP announced in a statement. Sun Exchange is Continued
The post Cryptocurrency-Funded Solar Energy Could Power A Moldovan University This Summer appeared first on CCN
Lightspeed Venture Partners, the VC firm behind Snapchat, is exploring a new crypto investment project, report says
In Bitcoin in Brief today, billionaire Warren Buffett has been reminded that he was wrong about Google and Amazon, and told he might be wrong about bitcoin, too. Billboards have appeared outside his office to convey the message of the crypto community. Also, a report suggests that the US cryptocurrency exchange Coinbase may apply for a banking license. Some conflicting views on the future of the Internet and its money complete Saturdays roundup.
Billionaire investor Warren Buffett, known for his negative attitude towards cryptocurrencies, has been targeted in a bitcoin advocacy campaign lead by one of the largest cloud mining companies. Genesis Mining has recently posted billboards...
A famous quote says Water always finds a way, and this seems to be the motto of beleaguered Indian cryptocurrency exchanges, who are circumventing the Reserve Bank of Indias (RBI) blanket ban on digital currencies by a flurry of methods. Central Bank Tries To Shut Industry A country of 1.4 billion, India undeniably had a Continued
The post Indian Cryptocurrency Exchanges Undeterred By Central Bank Crackdown; New Players Still Entering The Market appeared first on CCN
The former CEO of Visa in the UK is taking the helm of a new crypto startup that aims to let customers pay for everyday items in crypto
The president of Kazakhstan, Nursultan Nazarbayev, is urging the global community to work together to draft common rules regarding the use of cryptocurrencies. Nazarbayev said the current, disparate regulatory guidelines around the world cause confusion and inefficiency. It is necessary to start developing common rules, Nazarbayev said May 17 at the 2018 Global Challenges Summit, as reported by Continued
The post Kazakhstan President Calls for Global Rules on Cryptocurrencies under UN Oversight appeared first on CCN
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
The popularity of massive multiplayer online games and virtual worlds has grown tremendously during the last 20 years, and some of the largest services have seen tens of millions of users. Now you have the opportunity to take part in the creation of the exciting blockchain universe that opens new galaxies for you.
Last Tuesday, the first Nordic blockchain game ICO commenced following on from a successful pre-sale earlier this year.
The Parsec Credit token will be used in the game making it the core of the economy. It can also be exchanged for Ethereum. And as the players accumulate wealth in-game, they also accumulate real world money. The developers aim to get Parsec tokens on as many cryptocurrency exchanges as possible and make it a liquid currency not just in the game, but also in the real world.
Blockchain and Game
Parsec Frontiers is regarded as one of the most exciting blockchain games in development, as its one of the first full games that deploys blockchain technology at the core of its virtual economy.
Just recently Parsec Foundation and Artplant opened the auction for the first spaceships to be available in its game. The ARK-class ships is a limited edition available to the first 100 players, beginning with an auction that started on May, 15.
Its a very natural step for a game like this to embrace blockchain technology to empower the virtual economy driving the game. says Henning Rokling, the founder of the Parsec Foundation and COO in Norwegian game developer Artplant. Not only will it give players full transparency of what assets, ships and resources are available and tradable, but it will also allow players to invest time or money into a game and also bring those investments out of the game if they want to.
Largest NEO Based MMO
Early in May, Parsec Frontie...
A handful of blockchain-driven media startups that aspire to revolutionize the news economy are different in this important sense
This week at the Coingeek conference in Hong Kong, the firm Purse announced native support for BCH alongside its new client release bcash. Right out of the gate during this formal announcement, the firm details that a marketplace like Purse depends on cryptocurrencies that dont rely on speculative interest or enthusiasm alone. The company says the average order on Purse is around $100 and the average discount is about $15 and two on-chain transactions. Then Purse says they witnessed the grueling debate last year, while BTC transactions climbed to $50 per transaction...
Coincheck, the Japanese crypto trading platform that found new owners after it was hacked earlier this year, is now planning to offer services on the US market. The exchange expects to be licensed in Japan next month, according to the chief executive of Monex, the online brokerage which bought the troubled company last month.
Recognizing the need to study carefully the legal framework for cryptocurrencies in the US, Japanese exchange Coincheck is planning to expand its operations and its customer base in America, building on top of over 2 million accounts in Japan. No timefram...
QUESTION: Do you think Bitcoin can survive? Or has it been a passing fad?
ANSWER: Bitcoin rose because 70% of the miners were in China. It was NOT simply because energy was cheap. Bitcoin became the LEADING means of money laundering and movement of cash out of China, circumventing their rule of law and currency controls. So do not think for one minute that Bitcoin rose because it was really a wonderful idea. It was a means to get money out of China when you could not wire money out. In Australia, they have adopted the slogan that CASH IS FOR CRIMINALS. They will do the same to cryptocurrencies. All they need to do is declare a law that it is illegal for a business to accept cryptocurrency under the excuse that it is money laundering. You just killed the entire industry. The government has the army, tanks, and the guns. Until the army is willing to turn against the hand that feeds them, you cannot stand with cryptocurrency and claim some magical right to suppress government. You need the power grid!
Video streaming today is because of the online porn industry (I wont post a picture of that). They needed to sell their product and they invented video streaming. It has since expanded to everything. Blockchain can be used in many other contexts just a video streaming was not restricted to just porn.
If you work in cryptocurrency and are a member of Linkedin, youre probably familiar with OTC bitcoin brokers. Theyll message you, out of the blue, asking if you know any private sellers, and will offer to set up a deal for your mutual benefit. The majority of these men (for they are always men) are genuine in their intentions. This does not disguise the fact, though, that BTC brokers are little more than sharks circling the same prey.
Anyone can become a bitcoin broker: change your Linkedin title to OTC Bitcoin Broker and youve done it. Brokerage is a job that, like most cryptocurrency roles, outside of development, requires no formal qualifications. Just as anyone can call themselves an ICO advisor, anyone can assume the mantle of bitcoin broker, consigning them to start spamming Linkedin users for buyers and highly coveted sellers.
To understand the viral spread of brokers, its necessary to understand the conditions that led to large OTC sellers coming about. Back in the day, it was possible to acquire a lot of bitcoin for very little money. A lot of people mined it; some made it from trading shitcoins; and a few simply bought a bunch of BTC and then had the presence of mind to hodl, through thick and thin, for years.
Steve Wozniak came out in support of Ethereum at a conference in Vienna, claiming it could be as influential as Apple
The state of Colorado is considering giving political candidates the ability to raise funds using cryptocurrencies. This week the Secretary of State, Wayne Williams, presented the proposed guidelines and officials are looking for commentary from Colorado residents.
Genesis Minings bitcoin advocacy campaign has posted billboards outside of Warren Buffets office to remind him that he was wrong about Google and Amazon and warn him he may be wrong about bitcoin, too. The billboards went up shortly after Buffet dissed bitcoin during a Berkshire Hathaway annual shareholders meeting. Some new billboards outside of Continued
The post Bitcoin Mining Firm Trolls Warren Buffett with Billboards Outside His Office appeared first on CCN
Fundstrat Global Advisers is a finance market strategy firm well-known for making bullish predictions on cryptocurrency prices. Co-founder Thomas Lee posted the groups predictions that the bitcoin price would reach up to $64,000 by the end of 2019, citing the future trajectory of Bitcoin mining infrastructure growth as an underlying cause. He also predicted $91,000 Continued
The post Fundstrats Bitcoin Price Rally Prediction Fell Flat: Tom Lee Explains Why appeared first on CCN
Norways central bank, Norges Bank, considers introducing its own digital currency, prompted by a decline in cash usage
Despite the fork, Bitcoin Cash continue to slide. In the last 24 hours for example, it is down nine percent adding on to their weekly 13 percent loss. It might have been because of the mixed reaction following the upgrade from 8MB to 32MB happening at a time when the average daily transaction is around 20K at 80kb per block. When Bitcoin Cash shall utilize full capacity and fill 32MB per block we dont know. Considering competition especially from Bitcoin and Ethereum-the latter plans on sharding, it might take a while before that happens.
Is Bitcoin Cash a wonderful product? Absolutely! Will it replace Bitcoin and dominate the crypto world? Well, maybe, who knows! For investors, speculators and traders, waiting on the sidelines and timing good entry positions can be prudent than trading with every slight swing. Yes, they had an upgrade this week but is it convincing enough for merchants and retail users to say switch from say Litecoin and use Bitcoin Cash to transact? Time is everything and right now, sellers are pressing the gas pedal with eyes set at $600.
What we do know for sure is that Bitcoin Cash has new capacity now that we have a 32MB block in place. There will be space for new user cases and yes, just to clarify, majority of the Bitcoin Cash network would be run by small data centers with better connections and which have the ability to carry out network back hauls. In my view, I dont really think there would be problems of centralization as many people have been made to believe.
Not everyone can become a full node and forget about your smart phone ever becoming one. The issue of centralization might crop up not because of storage issue or bandwidth limitation but from centralization of hardware via economies of scale. Its a design weakness and thats why we have these huge mining pools who are set to get richer with every block size increment. So, will Bitcoin Cash becomes another centralized business in the future? I leave that to you.
In the weekly chart, Bitcoin Cash prices are basically topping and after week ending May 13 double bar bear reversal pattern, it is likely that prices might dip lower. Notice that last week ended lower despite abnormal volumes suggesting that there were some form of liquidation and rejection of higher highs at resistance. So, unless otherwise, this week will likely end as a bear and in that case we shall continue...
By all accounts, alt coin sellers have had the upper hand this week. EOS, Tron and IOTA were some of the coins that saw double digit erosion but encouragingly for buyers, there seems to be a re-bounce. By yesterday, Litecoin, EOS, Tron and to some degree Stellar Lumens were trading within very tight range and rejecting lower lows despite high trading volumes. Basing my forecast on price action, if todays candlestick ends up bullish with high market participation levels, sellers should exit their positions and pave way for buyers.
Lets have a look at these charts:
Encrypted messaging running on blockchain, super fast transactions, free usage and a web wallet is what EOS plans for their users once they launch. The DApp, EOSChat is a combination of brains from the EOS community. Unlike other chats users wont have to pay extra to move data from one EOSChat user to another, is fast and they can actually convert their smart phones into a light node and access the EOSIO ecosystem. On the security front, this EOSChat app will leverage on Dawn 3.0 Technology to provide a two tier security system. For maximum security, it uses double private keys and new generation multi-level authority management modes.
While we were a tad bit confident that prices would move up, EOS sellers overcame demand pushing prices lower. Nevertheless, we remain bullish and we are already seeing signs of bear exhaustion. Relative to other coins, EOS is down two percent in the last 24 hours despite high volumes. Well, if you were short, you can continue holding on to your position until after we see significant moves assuring buyers that indeed the trend is shifting. That will only happen if prices reverse and print above May 17 highs at $14.
Ever heard of...
No expected price rally, Steve Wozniaks positive expectations, Wall Street Journal research and more in our latest price analysis
William Mougayar, advisor to the Ethereum Foundation, claims that the SEC is trying to fit a square peg into a round hole regarding crypto regulation
Nokia, a Finland-based multinational communications and information technology provider, has announced a project to give people in remote rural areas a chance to have mobile connectivity and enjoy the benefits of the digital economy, according to a a post on the companys blog. New tools that reduce the cost of network deployment and maintenance will bring Continued
The post Why Nokia Is Partnering with a Crypto Startup to Build an IoT Network appeared first on CCN
Iran and Russia discussed the use of crypto with the aim of avoiding international sanctions, also noting that crypto could replace the SWIFT interbank system
On May 18, 2018, the One Championship fighter, female mixed martial artist (MMA) Mei Yamaguchi sponsored by Bitcoin.com, faced the Atomweight World Champion Angela Lee in a re-match bout called Unstoppable Dreams.
This Friday the Bitcoin.com sponsored Japanese veteran MMA fighter Mei Yamaguchi to meet her adversary Angela Lee again, in the the mixed martial artist female championship bout of the year at the One Championship Arena in Singapore....
The former head of JPMorgans blockchain operation has said that banks will start to trade cryptocurrency sooner than people think.
Amber Baldet, a former JPMorgan executive, was speaking during CNBCs Power Lunch today where she said that banks trading digital currencies was coming sooner than people think. She added:
But even where the will is, the legal and regulatory framework is challenging.
Notably, despite investor interest in the market, particularly in the last year, banks have remained steadfast and have stayed away from the industry. Its only in the last few months that the finance sector has started to turn its attention to the sector.
Bank are starting to consider the use of digital currencies within their platforms, but, according to Baldet custody is still a significant challenge.
Since Baldet announced her departure from JPMorgan in April questions have arisen as to what she will be doing next. During the Consensus conference in New York, Baldet who was listed under Fortunes 40 Under 40 list, unveiled her new startup, Clovyr, which claims to offer something similar to the app store, but for projects built on the blockchain.
Theres no way to discover whats out there right now, theres no Google for finding applications. The ability to discover apps is helpful but the ability to build them is also encompassed in there.
Earlier today it was reported that JPMorgan was hiring a 29-year-old to head its crypto-assets strategy. Such a move from the Wall Street bank represents a significant turnaround for the banking giant, and signals that it may be considering taking the sector seriously enough to warrant further inspection of it.
Featured image from Shutterstock.
On May 18, Recode reported that it has discovered Lightspeed Venture Partners, the main investment firm which backed many successful technology companies like Snapchat operator Snap, is planning to establish a fund that is exclusive to the cryptocurrency market. Three Options Sources of Recode confirmed that the venture capital firm is actively investigating into various Continued
The post Snapchats Main Investor is Forming a Cryptocurrency Fund appeared first on CCN
A cryptocurrency mining firm claims to be responsible for a billboard that has appeared near Warren Buffets office in Omaha. Whilst still unconfirmed, Genesis Mining are apparently behind the taunting publicity stunt.
The co-founder of colossal Bitcoin mining firm Genesis Mining tweeted a picture of the billboard earlier today. The message displayed on the sign is clearly addressed to the 87-year-old billionaire and reads:
Warren: You said you were wrong about Google and Amazon. Maybe youre wrong about Bitcoin?
The picture was posted this morning by Marco Krohn and references Buffet admitting to missing an opportunity by dismissing now tech giants Google and Amazon in their formative days as well as his continual expressions of contempt for the leading cryptocurrency, Bitcoin.
During the Berkshire Hathaway annual shareholder meeting this month, Buffet spoke about his opinion of the tech companies being wrong:
I made the wrong decisions on Google and Amazon.
Buffet has also repeatedly dismissed digital currencies. At the same meeting in which he addressed him missing out on the technology stocks, he claimed Bitcoin was probably rat poison squared. Later in an an interview with CNBCs Squawk Box he attacked supporters of cryptocurrency for defending the digital asset class. He said:
If people react when you criticise their investment, if they get mad, theyre gambling If they really like what they own, what difference would it make? If I criticise their wife or something, they dont get all upset about it [laughs].
Marco Krohn (@mkrohn5)...
Mitsubishi UFJ Financial Group, Inc, one of the top five banks in the world, announced its intention of testing a proprietary cryptocurrency by 2019. The idea is to roll out its coin initially to a relative handful of customers, hoping theyll participate in finding inevitable bugs as they make typical retail purchases. For Japan, its yet another indication the countrys business culture is betting on a crypto future.
Mitsubishi UFJ Financial Group, Inc. (MUFG; UFJ), after a few years of plotting (since 2015), appears ready to roll out its own crypto token, MUFG Coin by 2019. In doing so, it would become the first major bank on the planet to issue a variation on cryptocurrency. The plan involves testing MUFG Coin in 2019 with 100,000 users, hoping they will shop the token through retail outlets, everything from clothing to food.
In early 2016, Asahi Shimbun, Japanese daily, broke the story of how MUFG bundled a trial-trial with an iteration then of MUFG Coin and a smartphone app. MUFG coin takes advantage of the new technology that is on a network of multiple smaller computers, a company report at the time revealed. It is possible to cheaply build a tamper-resistant transaction record of the ledger, otherwise referred to as the blockchain.
The Dutch governments foray into blockchain enterprise could represent a third prong to mainstream adoption following banks and major corporations
The Binance Coin price (BNB) experienced a double-digit percentage rally on Friday after its issuer cryptocurrency exchange giant Binance announced that it was doubling the referral bonus for users holding a large number of BNB. BNB Price Makes Double-Digit Rally Despite Bearish Market BNB spent most of the previous day trading between $12.25 Continued
The post Binance Coin Price Rallies 21% after Exchange Doubles Referral Bonus for BNB Hodlers appeared first on CCN
Report: the Reserve Bank of Indias ban on crypto dealings is still upheld, after the countrys Supreme Court ruled to prevent any further petitions against the ban
A brief lived rally gave eager bulls a false expectation as the economy tried to break back into the trading range outlined in last weeks BTC market analysis. As mentioned in our last discussion, a break back in the TR will be considered a period of evaluation and an inability to keep support inside the TR would probably result in a continuation of the downtrend: Figure 1: BTC USD, Hour Candles, Downtrend ContinuationAfter launching the Major indication of Weakness, the market made a weak rally and finally formed a final point of Supply in the bottom of the TR. The LPSY is the stage where distribution begins to conquer the current market and long positions start to close as the demand dries up.
Soon after the rejection of the TR, the marketplace established a brand new low. Nevertheless, this reduced was pushed fairly low volume. The price action and volume are shaping a reversal pattern known as a Falling Wedge :Figure 2: BTC USD, Hour Candles, Falling Wedge. If the cost manage to break out of the FW it may have a small $1, 000 move upwards. The measured movement would have us retesting the lower $9, 000s once more.
Nevertheless, If we fail to gain sufficient momentum upwards, wed likely test the macro 61 percent Fibonacci retracement values: Figure 3: BTC USD, Day Candles, Macro Fib RetracementsFigure 4: BTC USD, hour candles, macro 61% Closer View. If we manage to test the 61%, this will be a zone of evaluation as we wait to see how a market reacts to such a strong macros service. Summary: Following a brief lived rally, bitcoin set a LPSY in the $8, 800s before continuing to create new lows. Presently, the market is pushing new lows, but on diminishing volume. The current cost activity is forming a falling wedge that, in case it breaks up, would have a cost target in the low $9, 000s.
Trading and investing in digital assets such as bitcoin and ether is extremely speculative and comes along with several dangers. This evaluation is for informational purposes and shouldnt be considered investment advice. Statements and fiscal info on Bitcoin Magazine and BTC Media related websites dont necessarily reflects the opinion of BTC Media and shouldnt be construed as an endorsement or recommendation to purchase, sell or hold. Past performance isnt necessarily indicative of future results.
A short-lived rally gave eager bulls false hope as the the
market attempted to break back into the trading range (TR) outlined
last weeks BTC Market Analysis. As noted in our last
discussion, a break back into the TR would be considered a period
of evaluation and an inability to maintain support within the TR
would likely lead to a continuation of the downtrend:
Figure 1: BTC-USD, 2-Hour Candles, Downtrend Continuation
After establishing the Major Sign of Weakness (SOW), the market made a feeble rally and ultimately formed a Last Point of Supply (LPSY) at the bottom of the TR. The LPSY is the point where supply begins to overwhelm the market and long positions begin to close as the demand dries up. Shortly after the rejection of the TR, the market established a new low. However, this low was pushed on fairly low volume. The price action and volume are shaping out a reversal pattern called a Falling Wedge (FW):
Figure 2: BTC-USD, 2-Hour Candles, Falling Wedge
If the price manages to break out of this FW it will have a
modest $1,000 move upward. The measured move would have us
retesting the lower $9,000s once again. However, if we fail to gain
enough momentum upward, we would likely test the macro 61%
Fibonacci retracement values:
Figure 3: BTC-USD, 3-Day Candles, Macro Fib Retracements
Figure 4: BTC-USD, 4-Hour Candles, Macro 61% Closer View
If we manage to test the 61%, this will again be a zone of evaluation as we wait to see how the market reacts to such strong, macro support.
Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many ri...
On May 18, 2018, the blockchain firm Coingeek hosted its inaugural Coingeek Conference held this year in Hong Kong. The event was filled with movers and shakers from the Bitcoin Cash (BCH) ecosystem, alongside hundreds of BCH supporters looking to change the way the worlds money works.
Coingeek wrapped up its Bitcoin Cash-focused conference that aimed at spreading the message of the many benefits BCH has to offer. The event was held in Hong Kong, at the luxurious Four Seasons Hotel, and had a wide variety of industry innovators from companys like Purse.io, Bitmain, Yours, Centbee, Handcash, Nchain, Lokad, Bitcoin.com, and more. Moreover, attendees listened to keynote presentations from Ryan X Charles, Jihan Wu, Dr. Craig Wright, Roger Ver, Joannes Vermorel, Vin Armani, Steven Bower, and Jimmy Nguyen among many special guests....
Six Colombian crypto companies form local Blockchain Association to support industry
The co-founder of the multinational technology company Apple has once again praised Bitcoin and its underlying technology blockchain. Steve Wozniak spoke about the financial innovation at a tech conference that was held this week.
Wozniak was speaking in Vienna at an event called WeAreDevelopers World Congress. There he stated that he felt that the blockchain would be a world-changing technology. He went on to claim that it was the next major IT revolution that is about to happen.
The Apple co-founder spoke just after the opening of the conference. His 45 minute fireside chat took place at the main stage and was live streamed to all of the other rooms at the event. Naturally, being given the task of introducing the general technology conference, Wozniak didnt exclusively talk about Bitcoin and blockchain. He also addressed topics such as Tesla, and the Cambridge Analytica data leak scandal. Digital security was also addressed:
We lost our security a long time ago. Weve lost our privacy and its been abused. If I think I have a level of privacy that I dont, thats deceit. And that bothers me. I hit a limit. I cant take that. Its one step in a long series of steps that are all in the same direction.
Along with Wozniaks opening, there were multiple presentations and workshops at the WeAreDevelopers World Conference devoted to blockchain. Amongst those sections of the program covering the technology was a talk titled How to Execute Business Processes on the Blockchain delivered by Dr. Jan Mendling, one called From Coded Cultures to Future Cryptoeconomics by Matthias Tarasiewicz, Daniel Pichler, and Jrgen Hoebarth, as well as Dont Be the Weakest Link In the (Block)chain by Luka Milinkovi & Marko Atanasievski.
Despite only briefly mentioning Bitcoin and blockchain in his opening speech, Wozniak is already known as a fan of cryptocurrency and its underlying technology. According to U.K. newspaper the Independent, he spoke on the topic in October of last year at the Money 20/20 event in Las Vegas. There, he slated fiat currency as being kind of phony since governments can just create more of it at their own whim. He contrasted gold and traditional forms of money with Bitcoin:
There is a certain finite amount of bitcoin that can ever exist Gold gets mined and mined and mined. Maybe theres a finite amount of gold in the world, but cr...
Blockchain platform Ethereum could be the next Apple, one of the iconic tech companys co-founders said this week. According to Forbes, Steve Wozniak made this bullish prediction in front of 5,000 people at this weeks WeAreDevelopers conference in Vienna. Ethereum interests me because it can do things and because its a platform, he said, adding Continued
In a poor week for the wider markets, a listing on the Gemini exchange put a strong bid under zcash, producing gains of 50 percent.
A study led by Chinas Ministry of Industry and IT finds over 421 fake cryptocurrencies and outlines the key signs of likely fraud
Not only did Consensus 2018 fail to generate a market pump, but by the end of the three-day session, the crypto sphere was dipping again.
The Consensus event took place in New York from May 14 -16, which saw thousands of attendees from industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups flocking to the conference.
The idea that Consensus 2018 would create a rally for Bitcoin and by proxy the entire cryptocurrency market was peddled in the financial news by pundits like Tom Lee of Fundstrat, who said during the build-up to the event:
Bottom line: We expect BTC and cryptocurrencies to behave similarly to prior years and rally during Consensus.
This consensus pump failed to materialize as Bitcoin fell 3.25% to $8,255.2 according to CoinMarketCap and remains close to session lows of $8,054.00 at the time of writing. Considering that Consensus 2017 created a spike that may be considered the start of the bull run that took Bitcoin to nearly $20,000 mid-December, the question many may be wondering is what happened this year?
The problems may have started when the tickets were priced from $999 dollars for students to $2,499 for an enterprise (per attendee) and could not be purchased with cryptocurrency.
Yahoo Finance reported that the topic of regulation was hotly debated at the conference but it lacked fresh perspective drawing a muted a reaction from cryptos. From media reports, this seems to be the general consensus while comments on Reddit fleshed out the problems further.
Poster U/korgijoe started a thread entitled Consensus 2018: It sucked. Heres why in which he broke down the problems with the conference in three parts:
Cryptocurrency brokerage firm Coinbase has met with US regulators to discuss applying for a banking license, according to an anonymous source familiar with the matter. The Wall Street Journal reports that the firm, one of the largest in the cryptocurrency industry, met with regulators at the US Office of the Comptroller of the Currency (OCC) Continued
The post Cryptocurrency Exchange Coinbase May Apply for a Banking License: Report appeared first on CCN
On Wednesday Trueusd, a stablecoin designed to be pegged to the US dollar, experienced a sudden bump in price after Binance announced support. The news caused Trueusd (TUSD) to rise by an unprecedented 40% before eventually subsiding. Trust Token, the coins developers, have now explained to news.Bitcoin.com how this sequence of events came to be.
As reported on Thursday, TUSD pumped to $1.39 off the back of news that Binance would be listing the supposed stablecoin. Binance has since postponed its listing of the token, pushing the event back by a few days to prepare for sufficient liquidity. Trust Token, for its part, has responded to the incident in a blogpost, writing:
TrueUSD saw a large, sudden increase in demand after Binance first announced that they are listing TUSD. We believe that bots (and some misinformed traders) purchased TrueUSD as soon as the announcement was made.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
Encryption is one of the most important methods for providing data security. Encryption is widely used on the internet to protect user information being sent between a browser and a server, including passwords, payment information and other personal information that should be considered private. However, with recent developments in quantum computers, more powerful and capable than traditional computers, the traditional data security comes to a threat. Are we prepared for post-quantum era cyber security? IDM service provides today a complete post-quantum protection for tomorrow. With new SIZE algorithm IDM team has developed a security solution to tackle the quantum computer supremacy.
Quantum computer development
Quantum computing takes advantage of a strange ability of subatomic particles to exist in more than one state at any time. In common digital computing, a bit is a single piece of information that can exist in two states 1 or 0. Quantum computing uses quantum bits, or qubits instead. These are quantum systems with two states. This difference allows a future quantum computer to solve some difficult mathematical problems easier, faster and with less energy.
Quantum computers operating on completely different principles to classic computers can solve particular mathematical problems, like finding very large prime numbers. This problem is classically very difficult to solve. In fact, it is so difficult that it forms the basis of RSA encryption, probably the most popular method of encryption used today. Since prime numbers are so important in cryptography, it is likely that quantum computers would be able to crack practically any of the existing data security systems.
To estimate the scope of a potential security problem we have to answer few questions: What kind of attacks can quantum computer perform? What are the most vulnerable scenarios? How far awa...
A study of 48 EU countries for their blockchain and crypto-friendliness puts Switzerland, Gibraltar, and Malta at the top
Members of the European Parliament believe modest businesses could benefit from incorporating blockchain technology. The Business, Research and Energy committee voted Wednesday at urge that small businesses look into blockchain payment systems in the movement aimed at relieving a few of the expenses associated with middleman payment facilitators. Additionally, an oral question will be posed to the EU Commission about the technology during a plenary session next month, based on a press release. The committee especially proposed non monetary uses for the technology, specifying data controls, logistics management, property registers and in democratizing the energy market, in accordance with the release.
Eva Kaili, a committee member who reported on the meeting, said technology is a cutting-edge one, adding: . Today the Industry Committee voted unanimously in favor of a forward looking technology we expect to alter the standard of our own life, empower SMEs and improve business models in most industrial sectors. And we aspire to make EU the global leader in the age of the fourth industrial revolution. . In accordance with the release, the members have called on the EU Commission to set regulatory rules for various blockchain use cases which are innovation friendly and technology neutral. Theyve also asked to include financing for emerging blockchain jobs from the post-2020 EU long term budget .
Talking at CoinDesks Consensus 2018 conference Monday, Kaili noted that the EU was starting to promote blockchain adoption, saying in the upcoming few years we will have harmony, sands and regulations. With that being said, she noted that is really hard to educate every politician about blockchain technology. And also we do not have too many scientists inside the European Parliament. . EU Parliament office picture via Shutterstock. The leader in blockchain information, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
UPDATE: Pink Taxi apologized for its ICO marketing materials, which another group accused it of using without permission. Pink Taxi issued a statement on Twitter acknowledging the confusion. After the jump. Bitcoin bull John McAfee was accused of promoting a sham initial coin offering by a group called Pink Taxi, which allegedly stole intellectual property from Continued
The post John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform appeared first on CCN
Bitmain is the worlds undisputed leader in cryptocurrency mining hardware manufacturing. Now, it wants to fill a similar role in the artificial intelligence (AI) field as well. Speaking in a rare interview, enigmatic Bitmain CEO Jihan Wu told Bloomberg that the company is channeling its expertise in developing application-specific integrated circuit (ASIC) chips toward a Continued
The post Bitcoin Mining Giant Bitmain Is Making a Major Pivot to AI appeared first on CCN
Over the past two weeks, weve received many email concerns from readers regarding Warren Buffetts recent comments about Bitcoin.
We highly respect Buffett as an investor and look forward to reading anything he puts out, but we have to keep in mind that Mr. Buffett completely missed the Internet and most of the other technology gains throughout his career.
He openly admitted that he didnt understand Google and Amazon 20 years ago and was wrong about them.
Im not sure why anyone would take him so seriously regarding Bitcoin when both Bill Gates (founder of Microsoft) and Steve Wozniak (co-founder of Apple) believe Bitcoin and the blockchain are the future.
Wozniaks exact words were Blockchain is the next major IT revolution that is about to happen.
He also noted last October that Bitcoin is better than gold and the U.S. dollar.
Twitters founder, Jack Dorsey, predicted in March that Bitcoin will become the worlds single currency.
I dont know if I would go as far as saying its...
Five writ petitions have now been filed against the order by the Reserve Bank of India (RBI) banning banks from providing services to entities dealing with cryptocurrencies. The countrys Supreme Court has set a date to hear all petitions but has barred all other courts from accepting any new ones.
Five petitions have been filed with Indian courts against RBIs order banning financial institutions under its control from dealing with cryptocurrencies and servicing entities that deal with them including crypto exchanges. RBI has set a three-month deadline or by July 5 for financial institutions to comply with its notice, putting the cryptocurrency businesses in India in a disarray, the Economic Times elaborated.
The latest writ petition was filed by the Internet and Mobile Association of India (IAMAI), a non-profit industry body representing the interests of online and mobile value...
Maltas Transport Ministry and UK blockchain startup to develop a transport and logistics blockchain platform for the country
A committee of the European Parliament believes that small businesses could benefit from integrating blockchain technology.
Disgraced cryptocurrency exchange Coincheck has come under new management, and its new owners are planning to bring the trading platform to the US market. Bloomberg reports that Monex, the Japanese brokerage firm that acquired Coincheck in April, believes a US expansion could fast-track the exchanges quest to once again become a major player in the Continued
The post Hacked Cryptocurrency Exchange Coincheck Plots US Expansion appeared first on CCN
We got our hands on a Bitmain Antminer X3 CryptoNight ASIC miner for a few days and have decided to give this soon-to-be or already way too expensive paperweight a quick test to see what you can expect from the device as they have been shipping for a week or two already to customers. The Antminer X3 is capable of delivering 220 KHS at 550W of power usage as per specifications and the device kind of manages to actually deliver on these numbers. The kind of part is because weve experienced some weird results trying to actually make the ASIC miner work properly on some popular pools and services such as NiceHash for example. When you point out the X3 to NiceHashs CryptoNight (not CryptonightV7) stratum you get the device to connect and report extranonce support, but all you get are rejects and 0 as hashrate. So apparently the Antminer X3 does not work properly on NiceHash at the moment, even after flashing the latest available firmware that seemed a day newer than the one on the device we have tested. No go on NiceHash which seems as the best option for the moment considering that there are not that many CryptoNight coins left that offer good profit as most of the serious coins have already switched to the new ASIC-proof (for now at least) CryptoNight V7 algorithm.
Bitcoins fall to 30 days lows below $8, 000 has strengthened the bear hold on the economies, the specialized graphs indicate. The cryptocurrency fell to $7, 925 on Bitfinex earlier today the lowest level since Apr 18 and has retraced 50% of the gathering of the Apr 1 low of $6, 425 to May 5 large of $9, 990. As of writing, BTC is changing hands at $8, 120, representing a 2 percent fall in the last 24 hours. The recovery from the low of $7, 925 might be connected with the oversold conditions shown by the comparative strength indicator in the hourly graph.
Nevertheless, the profits will probably be short lived as the chances are stacked against the bulls, according to technological graphs. Daily graph. BTC closed well beneath the 50 day moving average yesterday, signaling a continuation of the sell off from the latest high of $9, 990. Further, BTC has also found approval below $8, 207, a level that acted as strong support from May 12. The 5 day moving average and the 10 day MA carries on to tilt down in favor of the bears. The relative strength indicator is also biased bearish. And last, but not the least, BTCs turn lower from $8, 884 and fall below $8, 100 yesterday have generated a lesser highs and lows pattern .
Thus, its fairly apparent that the fall to 30 days lows in the last twenty four hours has the put bears on the drivers seat. View. BTC looks set to test the immediate support lined up at $7, 787. A daily close below that level will be the final confirmation of bearish trend reversal and will probably be followed by a sell off $7, 000. Only a daily close above the 10 day MA would abort the bearish perspective and may yield sideways to positive action. Bitcoin image via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Banco Santander has completed a blockchain pilot it says improves the process of proxy voting during annual general meetings. For the job, declared Thursday, Santander partnered with global fintech firm Broadridge and custodian banks JPMorgan and Northern Trust, describing it in a media release as the primary functional use of blockchain for shareholder voting. Nevertheless, it needs to be noted that other things like Nasdaq, the Abu Dhabi Stock Exchange along with a group of central securities depositories, including Russias National Settlement Depository, have conducted pilots, are still developing systems or have launched platforms around the use case. The Broadridge assembled solution surfaced formerly in Apr of last season aims to improve transparency within the global proxy voting system, while enhancing the security, efficiency, analytics and security, the release states.
The aviator was concluded on March 23 for the Spanish banking giant AGM and saw participation from Santanders blockchain laboratory and Corporate Services, which functioned as the issuers representative. The blockchain solution was utilized to make a shadow electronic enroll of the proxy voting system taking place in parallel with the conventional voting model. Sergio Gamez, Global Head of shareholders and Investor Relations in Santander, stated that, for listed company like Santander, the AGM is among the most crucial corporate governance events. Gamez explained: its quite important to ensure the participation by investors and shareholders, and this season utilizing blockchain technology for the institutional vote was a fantastic help with regards to agility and transparency throughout the vote life span .
Switzerlands federal government has called for a study into the risks and opportunities of launching the e-franc, a proposed state cryptocurrency powered by blockchain technology. The Federal Council, Switzerlands seven-member executive council that constitutes the federal government, has thrown its support behind a 32-year-old Swiss lawmaker Cdric Wermuths call for a formal government study into Continued
The post Switzerland Government Calls for Study on State Cryptocurrency e-franc appeared first on CCN
Banco Santander has completed a blockchain pilot that it says improves the process of proxy voting during annual general meetings.
With the bear trend of early 2018 having witnessed losses not seen in the cryptocurrency markets since 2014, it can be easy to lose track of the meteoric gains produced by the leading virtual currency markets over the span of just a few years. When comparing current prices to those listed on Coinmarketcaps historic snapshot from the 17th of May, 2015 the peak of bitcoins previous winter one can see that bitcoin has produced price gains of over 3,000%, whilst the value of the then-top four altcoins have increased by between 9,000% and roughly 13,000%.
When comparing the current price of BTC market action from three years ago, the price of a single bit...
The token sale that will transform the traveling and napping industry is launching soon.
The state-of-the-art ICO project by AirPod is taking off after the platform announced May 29, 2018, as the day when APOD tokens are going to become available for purchase. The token sale is set to start after the AirPod presentation at CryptoKonf in Belgrade on the same day and it will drive the project, enabling a blockchain based franchise distribution model for sleeping pods. The AirPod project is designed to be a self-expanding business with utmost levels of transparency, provided with the help of an internal fast-growing crypto-economy.
The AirPod token sale provides an opportunity for any cryptocurrency investor to create a profitable and stable channel to earn passive income.
AirPod: The Solution
The travel industry is one of the fastest growing sectors with an annual global passenger volume of over 667 million. Among them, at least 10% of the passengers frequently go through transits and transfers, creating a need for comfortable private spaces in public spots like airports, hotels, malls etc. The AirPod project caters to this need by offering travel and napping solution in the form of privacy-centric resting pods with amenities. As a part of its expansion strategy, the project has a Partnership Program for community members who can own or enter into a revenue share program by staking their APOD tokens.
AirPods will be placed at hotels, railway and bus stations, shopping centers, offices, and city centers. In the beginning, AirPods will be placed at the major airports worldwide. It will become an affordable couple ohours home or office when waiting for the next flight, train, bus or a scheduled meeting.
AirPod Sleeping Pod will give the user a unique, luxury, state-of-art place to relax without stress. The private, capsule style units will also offer security and safety to the user. It can accommodate both overnight and short-term stays, with integrated anti-stress technology to help the user relax and revitalize.
The unit offers comfort and entertainment to the traveler, featuring free access to high-speed Wi-Fi, Amazon Fire TV, air conditioning among others.
AirPod will not be just a place to relax. It will be also one of the most profitable and stable businesses with passive crypto-income potential. In the Sponsorship Program, a participant will become the sponsor of a particular unit and earn up to 80% of the profits generated by the AirPod unit every month. AirPod will enable ICO contributors to exchange APOD tokens for the right to gain in profits.
As a contributor, participants can choose any AirPod unit in the world and exchange APOD tokens fo...
Historically, Facebook has done a great job of staying on the
cusp of technological advancement through investing heavily in new
technologies and smart acquisitions. From WhatsApp to Oculus, the
company has used its bulging bank balances to stay one step ahead
of consumer trends by snapping up tech and talent. And, after
last weeks internal announcement that Facebook would be
investing heavily in a new blockchain technology research wing,
headed by David
Marcus, one of the company's top execs, leader of its Messenger
platform and a former CEO of PayPal, it is quite obvious which new
emerging technology the company has its sights set on now.
Blockchain technology and its incorruptible, decentralized digital ledger could offer the accountability and transparency needed to pull Facebook out of its recent data security quagmire, which saw CEO Mark Zuckerberg dragged in front of the United States Congress following the Cambridge Analytica scandal. On the flipside, the decentralized nature of blockchains would make it difficult for Facebook to continue with its most valuable business model: harvesting user data and targeting users with advertising based on their online behavior.
So, with this conundrum in mind, how might Facebook be planning on using the blockchain, and how will this affect the overall development of blockchain technology?
I would argue that there are three potential incentives for Facebook in building out its blockchain capabilities:
The first, and most obvious, is that Facebook is aiming to publicly align itself with a technology which is most famous for providing transparency and offering users control of their own data in the aftermath of the Cambridge Analytica scandal. The scandal has left many users questioning Facebooks management of user data and the platforms transparency and privacy terms, which blockchain applications could potentially alleviate.
The second is that Facebook wants to continue drawing developers to create apps on its developer platform by capitalizing on the popular trend of coders moving en masse into the crypto space. If Facebook can develop a platform where app developers can raise and earn from their apps via tokens on the blockchain, the speed to reward incentive is much higher. Tokens offer developer...
In adult life, one way or another, no one escapes the suit. If you have but contempt for what it stands for, it might end up owning your day completely. It does not matter if it is above or beneath you. On the other hand, wearing one with the wrong outlook can be a severe detriment to the soul. The point is, should you choose to wear one, that it does not mean you dont get to f**k with it and make it your own. Same applies to keynotes.
The booked and carefully selected dancer Sophia Bebyck had to, for a good reason, drop off just a couple of days before the show. With her help, the gracefully energetic Rachel Piearcey stepped in to replace her. The afternoon was sweaty as it was the first scorching day of spring. People were getting restless as it was the last slot after a long day. Just before us starting, some glass got broken by accident on the podium, but Rachel said she was good to go so one of my favorite songs began to fill up the room.
As you can see from the image above and below, a few days ago I also pa...
Bitcoin's drop to one-month lows has bolstered the already bearish technical setup.
Kazakhstans president calls for development of common rules for crypto regulation globally
Jack Ma has joined the bitcoin bashing brigade, although he remains keen on blockchain. Ma, chairman of Alibaba and considered Chinas richest man, said during the second World Smart Conference in Tianjin that bitcoin is a bubble, according to a local industry report. In the past, he has said he does not understand bitcoin but Continued
The post Alibabas Jack Ma Joins the Bitcoin Bashing Brigade but Backs Blockchain appeared first on CCN
My end of week morning train reads: The Store Is Not Dead (at Least for Now): Shops that would rather not shut down are adapting, resulting in a somewhat surprising retail renaissance (The Cut) How Baby Boomers Broke America (Time) Bitcoins energy use got studied, and you libertarian nerds look even worse than usual (Grist) U.S.
A crypto wallet provider is developing a service where users can store all of their unique collectible characters in one place including CryptoKitties, CryptoAlpaca, CryptoCuties, CryptoFighters and CryptoCelebrities #SPONSORED
7 major banks have formed India Trade Connect to test IT multinational InfoSys blockchain platform
Mathematics questions pertaining to bitcoin have been included in recent high school matriculation examinations in the Netherlands. Approximately 200,000 Dutch students are estimated to have taken the OVW exam, a mandatory test for students seeking tertiary education in the Netherlands, which included five bitcoin-themed questions.
The cryptocurrency market has dropped by more than $42 billion in the last three days, from $412 billion to $370 billion. The daily trading volume of the market also declined by around $3 billion, from $22 billion to $19 billion. Poor Conditions Earlier today, on May 18, the bitcoin price dipped below the $8,000 mark, Continued
The post Cryptocurrency Market Loses $42 Billion in 3 Days as Tokens Struggle appeared first on CCN
New cryptojacking malware WinstarNssmMiner makes 500,000 more users mine Monero
There is an elephant in the room and that room is the current ICO market. The elephant is the unignorable fact that the majority of ICOs offer no protection to their token buyers who consider themselves as investors. These buyers are not investors. Heres why.
In 2017, initial coin offerings, or ICOs, emerged into the big time. Over the course of the year, startups conducting an ICO as a way of raising startup capital raised over $6.5 billion. Since then, many ICOs have issued utility tokens under the guise of security tokens, and they have raised millions of dollars by promising their holders huge returns and part of their income. In reality, they may not able to deliver on these promises.
The difference between a utility token and a security token was explained by Laimonas Noreika, the CEO of DESICO, the worlds first fully legal security token platform: if Google were to have launched an ICO to raise capital by selling utility tokens, then Google utility token holders would now receive free Google ads in exchange for their tokens. Were Google to have issued security tokens, then Google security token holders would now be eligible to revenue share of the company.
A security token is an investment and a financial product. It is a token that gives its holder ownership of a real asset, which can range from tokenized commodities and tokenized real estate, to tokenized funds. Meanwhile, a utility token simply provides access to a platform or product, and unlike a security token, it is not an investment and does not provide its holder with any rights.
Due to the different characteristics of security tokens and utility tokens, plus the lack of legal regulation, this has led to the ICO industry being shrouded in mystery. In mid-2017, this perception surrounding the credibility of ICOs led to the U.S. Securities and Exchange Commission, the SEC, cracking down on security ICOs and making them subject to the requirements of the federal securities law.
The ICO industry is in desperate need for the correct legal frameworks and infrastructure to issue security tokens, Noreika continued. This is because finance experts predict that 2018 will be the year when security tokens begin to outstrip utility tokens, since more capital is expected to flow into the security crypto asset class. By the first quarter of 2019, it is estimated that ICOs issuing security tokens will outnumber those issuing utility tokens.
Empowered by the belief that security tokens are the future of a global tokenized economy, the DESICO team will introduce the worlds first fully legally compliant, and therefore game-changing, infrastructure to issue and trade security tokens.
DESICOs full legal compliance is rooted in its country...
Todays Bitcoin in Brief features several examples of harnessing crypto and blockchain technologies to improve quality of life around the world. The United Nations is involved in a crypto-funded project to power Moldovas Technical University with solar energy. Initiatives in Malta and India will employ blockchain technologies to create more reliable public transportation and land registry systems.
The United Nations Development Program (UNDP) is launching this year a crypto-funded initiative to power a university in Moldova with solar energy. The project, to be realized in partnership with the South African solar power marketplace Sun Exchange, will allow people to buy solar cells and then lease them to the Technical University in Chisinau, which is one of the largest in the country.
According to a VOA report, the purchases will be made using Solarcoin, a crypto launched by the blockchain startup Electricchain. The idea is to find new sources of finance to help buildings go green overnight, in this case with rooftop solar panels, said Dumitru Vasilescu, program manager with UNDP in Moldova. One of the biggest obstacles to countri...
The parent company of hacked Japanese crypto exchange Coincheck, has revealed the companys plans to expand to U.S. markets
The sustainability of Bitcoin mining has always been a topic of debate. Some sources claim it is just fine, whereas others deem is not viable for much longer. Alex De Vries conducted an interesting piece of research, which claims the energy usage by Bitcoin miners will double by late 2018. An interesting study, although one that also misses out on key elements.
Looking at how Bitcoin mining evolved, it is normal the energy usage has been on the rise. More people are excited about mining cryptocurrencies. At the same time, the efficiency of mining units has improved vastly. As such, one would expect the energy usage to remain somewhat stable. Alex De Vries claims that will be anything but the case. In his findings, BTC mining will use as much energy as the entire country of The Netherlands.
His research also claims how this energy consumption will continue to rise. It may even reach 5% of the worlds energy. On paper, this sounds very problematic, although there are always two sides to a story. There are some key factors which contribute to making Bitcoin mining profitable. The first of all is having access to electricity that is affordable and cheap. For Bitcoin mining purposes, the number of locations is fairly limited in this regard.
Canada, Iceland, and some regions of the US are places that come to mind in this regard. China also has some cheaper electricity rates, but the country is trying to move mining firms out of the region. This factor is seemingly not taken into account by Alex De Vries. Bitcoin mining has become something for corporations rather than individual miners. These companies are also looking to keep their electricity usage in check first and foremost.
Another factor Alex De Vries overlooked is the use of renewable energy. All regions mentioned above have a high degree of renewable energy sources. Bitcoin mining operations are tapping into those solutions ra...
Financial institutions all over the world are interested in Bitcoin. UnionBank recently demonstrated its cryptocurrency miners at a business conference. That is an interesting development, considering how the worlds leading cryptocurrency is a legal tender in the country. When the biggest bank in The Philippines gets into Bitcoin, an interesting tone is set.
The Philippines have always been a key region for Bitcoin. It is home to a few remittance services which rely on cryptocurrency. Moreover, the government made it clear Bitcoin can be used for remittance purposes. It is a validation of the worlds leading cryptocurrency being used for real-world use cases. So far, the Philippines is one of the only countries to take this specific step in recent years.
Unionbank, the biggest bank in the country, recently showcased cryptocurrency miners during a business conference.While that may not seem important, it is another nod of approval toward cryptocurrency. While not a Bitcoin mining unit, it does show the institution is interested in cryptocurrencies.
Miguel Cuneta (@MiguelCuneta) May 18, 2018
How this venture will pan out exactly, remains a bit unclear. To this date, the bank has not confirmed it is involved in any cryptocurrency mining operation just yet. Even so, they are quite confident cryptocurrencies here to stay. More and more banks are getting on the cryptocurrency bandwagon these days. Ranging from trading desks to mining operations, things are certainly heading in an interesting direction.
It is not the first time Unionban...
The Tel Aviv Stock Exchange (TASE) has announced the development of a blockchain-powered securities lending platform that the bourse operator believes will enable direct lending among all major financial instruments in the country. Calling it one of the first projects of its kind in the world, the TASE says its new Blockchain Securities Lending (BSL) Continued
The post Israels Public Stock Exchange Unveils Blockchain Securities Lending Platform appeared first on CCN
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
With a new focus on security tokens and financial regulation, Keynote delivers their seventh World Blockchain Forum, the first ever in New York. Final ticket release begins 29th May.
Having produced two of 2018s biggest bitcoin and blockchain events in Miami and Dubai, Keynote is honored to bring the World Blockchain Forum to the Big Apple as they host the first [WBF: Security Tokens & ICOs] on 12th and 13th June.
Held at Manhattans Metropolitan West, the intimate two day event includes a change in format with ICO Pitch Panels, where ICO projects will use a panel discussion platform to showcase their product moderated by blockchain visionary Moe Levin. Attendees will experience a comprehensive introduction from high profile industry experts including Vanessa Grellet, Bruce Fenton and Salil Donde, knowledgeable in not only blockchain and financial regulation but the complexities of Wall Street, offering invaluable insight into the future of security tokens.
Announcing lead partnerships with Victory Square Technologies and Polymath, this WBF speaker line up is set to deliver a groundbreaking agenda rounded off by Victory Square Director Peter Smyrniotis awarding the top 3 ICO/STO panelists with $100,000 shared investment.
In addition, WBF Dubai Environmental Sponsor Climate Futures, will return for WBF New York, after having retired over $14,000 in 1PLANET tokens to balance the carbon footprint of over 600 international flights to Dubai.
In a saturated environment of corporate blockchain events en masse, WBF maintains its 7-year long ambition to connect individuals and develop international relationships, giving sponsors a personal and rewarding experience long term. Projects wanting to exhibit alongside WBF regulars bitcoin.com and Academy Sch...
A Tel Aviv based blockchain startup, Blox.io, recently launched their Blox Business platform, an accounting system specifically designed to track, report, and manage crypto assets. Dubbed the Quickbooks for Crypto, the Blox platform will help both companies and funds meets their variousand oftentimes complexfinancial needs.
To date, Blox Business helps manage over $2 billion in crypto assets. Company projections estimate that by the end of this year, the platform will help manage more than 10 percent of the total crypto market. Blockchain pioneers like Wings, CIVIC, Chainlinker Capital, and eToro all utilize the platform to help manage their digital assets.
How Big is the Crypto Universe?
According to data gathered by CoinMarketCap, there are almost 1,600 different cryptocurrencies in circulation. To be sure, the number is ever fluctuating, as new companies debut coins and as failed startups close their doors and delist any crypto assets. Nevertheless, this represents tremendous growth, as the total number of cryptocurrencies stood at just over 1,000 in August 2017, per Benzinga.
Along a similar vein, the total crypto market cap stands at well over $400 billion. Though this is half the $800 billion-plus total market cap seen in January 2018, it still demonstrates incredible year over year growth. Since November 2017, the total market cap hasnt fallen below $200 billion, despite this years increased volatility.
In conjunction with the rise of the total value of all cryptocurrencies, crypto focused hedge and investment funds are also on the up and up. More than 200 crypto hedge funds are in existence, up from 110 funds in October 2017 and about six times the number at the start of 2017.
What does this data show? If nothing else, it reveals the increasing popularity of cryptocurrencies and the need to aggregate and streamline data-based operations. This is precisely Bloxs goalto create and provide much-needed accounting and financial tools for the ever-growing blockchain industry.
How Does Blox Fit...
Bitcoin price tumbled below key supports against the US Dollar. BTC/USD is currently consolidating near $8,000 and it is at risk of more losses.
There was no upside break above $8,500 in bitcoin price against the US Dollar. The BTC/USD pair failed on many occasions to trade above the $8,500 resistance area. There was a sharp bearish reaction and the price declined below the $8,200 and $8,080 support levels. It seems like the price was completely rejected from the 50% Fib retracement level of the leg from the $8,850 high to $8,080 low.
More importantly, there was a break below a triangle pattern with support at $8,250 on the hourly chart of the BTC/USD pair. The pair is now trading well below $8,500 and the 100 hourly simple moving average. The decline was such that the price even spiked below $8,000 and a low was formed at $7,931. At the moment, the price is consolidating losses and moved above the 23.6% Fib retracement level of the drop from the $8,486 high to $7,931 low. However, the price is struggling to move above a connecting bearish trend line with resistance at $8,150.
Looking at the chart, the price may perhaps move above $8,150 in the near term, but it could face a strong barrier near $8,250. Moreover, the 50% Fib retracement level of the drop from the $8,486 high to $7,931 low is a key resistance at $8,209. On the downside, the price must stay above $8,000 to avoid a push towards $7,600.
Looking at the technical indicators:
Hourly MACD The MACD for BTC/USD is slowly moving back in the bullish zone.
Hourly RSI (Relative Strength Index) The RSI is moving higher towards the 50 level.
Major Support Level $8,000
Major Resistance Level $8,250
The Supreme Court (SC) of India has barred all high courts from filing petitions against the central banks (RBI) crypto-curbing circular from April. The court also is clubbing all pending petitions, to be transferred to the SC. As cryptocurrency adopters, exchanges and advocacy groups move various high courts (HC) across the country in filing petitions Continued
The post Indias Supreme Court Claims All Petitions Against Central Bank Crypto Blockade appeared first on CCN
While women in the blockchain industry want to focus on the technology, a lack of women is hurting the industry.
Cardano price is currently under pressure against the US Dollar and Bitcoin. ADA/USD may correct higher, but it will most likely face hurdles around $0.2500.
There was no major recovery above $0.2600 in ADA price against the US Dollar. The price topped around the $0.2615 level and the 100 hourly simple moving average. A fresh bearish wave started and the price declined below the $0.2500 and $0.2400 support levels. It traded close to the $0.2300 level and a low was formed at $0.2304. A base was formed and the price is currently correcting higher towards $0.2450.
At the moment, the price is testing the 23.6% Fib retracement level of the last decline from the $0.2616 high to $0.2304 low. However, there are many resistances on the upside around $0.2500. There is also a key bearish trend line in place with resistance at $0.2450 on the hourly chart of the ADA/USD pair. Furthermore, the 50% Fib retracement level of the last decline from the $0.2616 high to $0.2304 low is positioned near $0.2460. Therefore, it seems like the price is likely to face a strong barrier near $0.2450-0.2500.
The chart indicates that the price is slowly recovering from $0.2300. If it fails to move above the $0.2500 resistance, it could decline once again towards $0.2300. Below the stated $0.2300 support, the price may perhaps move towards the $0.2000 handle. On the flip side, above $0.2500, the price might climb towards $0.2750.
Hourly MACD The MACD for ADA/USD is about to move into the bullish zone.
Hourly RSI The RSI for ADA/USD is well below the 50 level.
Major Support Level $0.2300
Major Resistance Level $0.2500
Reuters reported Switzerland is formally considering the possibility of a state-backed cryptocurrency. Its government has asked legislators commission a study on the pros and cons of a Swiss e-franc.
Switzerlands Federal Council explained why it was asking for a formal study of state backed cryptocurrency. The Federal Council is aware of the major challenges, both legal and monetary, which would be accompanied by the use of an e-franc. It asks that the proposal be adopted to examine the risks and opportunities of an e-franc and to clarify the legal, economic and financial aspects of the e-franc.A...
Tron is still stuck in consolidation as it formed a symmetrical triangle on its 1-hour chart. Price is currently testing the triangle support and could be due for a bounce back to the resistance at 0.07000.
However, the 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, support is more likely to break than to hold. The chart pattern spans 0.06000 to 0.08000 so the resulting selloff could be of the same height.
RSI is turning higher, though, so Tron could follow suit while buyers regain control. Similarly, stochastic is moving up to signal that bullish pressure is in play. A bullish divergence can also be seen for this oscillator as price made higher lows while stochastic had lower lows.
The consolidation in Tron can be explained by exchanges freezing holdings until the launch of the mainnet by the end of this month. Investors could also be cautious and holding out to see how the update turns out. Any glitches could mean a downside break for Tron while a successful launch could spur another rally.
Meanwhile, the dollar has remained safely supported for the most part of the week, despite the April retail sales miss. Traders are pointing to the stronger price levels as a factor supporting tightening expectations for next month, so long positioning ahead of the actual event can be observed.
Apart from that, ever-present geopolitical tensions on trade talks are also supporting the safe-haven dollar even as any conflict with China could have ramifications for its economy. Looking ahead, Tron consolidation could carry on for the next couple of weeks until after the mainnet launch.
The Wall Street Journal reviewed 1,450 ICO presentation and found 271 one of them show indications of being scams.
Initial coin offerings are a popular and potently succesfull way for startups to fund their companies growth. They are also essentially unregulated and becoming more and more popular for scammers who create fraudulent sites based on stolen information and little else to lure unsavvy investors into giving them their money.
As reported by The Wall Street Journal which performed an exhaustive study of 1,450 ICO sites and projects 271 of them have red flags indicating the project is fraudulent. These red flags include guaranteed no risk returns, extremely high percentage returns, and celebrity endorsements. Of the projects that the journal singled out as suspicious most were found using plagiarized texts, images of team members and or investors taken from stock photography banks, and in 111 cases entire sections of company white papers copy and pasted.
As an example, the Journal focused on a project called Denaro, an online payment service, and its cofounder Jeremy Boker. The project is described in investor documents to have a power house team who had already raised over 8 million in funds. In fact, Mr. Bokers photo was a stolen image and no other member of that power house team could be identified. Boker turns out to be Jenish Mirani, a banker in Poland who posted his picture on a personal website and was shocked to hear of its reincarnation.
Still, those 271 ICOs identified as having red flags have garnered over $ 1 billion in investors money according to a review of company statements and online transaction records performed by the WSJ. While some of the projects are still raising money others have shut down or have been frozen by the Securities Exchange Commission, the federal regulatory body which has been tasked with investigating ICOs.
ICOs have come into the mainstream consciousness since the 2017 rise of Bitcoins price brought on an increase in cryptocurrency traders. Since 2017 the SEC estimates ICOs have raised $12 billion in revenue. This kind of money generates a market for fraud which has lead the SEC to create a warning to investors that many ICOs may be violating securities regulations or be outright scams.
The regulatory body even launched its own fake ICO website complete with red flag...
Ripple price fell and broke key supports against the US Dollar and Bitcoin. XRP/USD remains below a major pivot level at $0.7000 with risk of more declines.
There was a crucial rejection noted around the $0.7000 and $0.7100 resistance area in Ripple price against the US Dollar. The price failed to break $0.7100 and the 100 hourly simple moving average. As a result, there was a fresh downside move and the price moved below the $0.6900 and $0.6800 support levels. The decline was real since there was even a close below the $0.6800 support and the price is now well below 100 hourly SMA.
The decline paused near an important support area at $0.6450, which prevented losses on many occasions earlier. A low was formed at $0.6471 before the price started consolidating in a range. It is currently testing the 23.6% Fib retracement level of the last drop from the $0.7142 high to $0.6471 low. There are chances of more upsides towards $0.6800, but there are many hurdles on the upside. A major bearish trend line is also in place with resistance at $0.6800 on the hourly chart of the XRP/USD pair.
Looking at the chart, the 50% Fib retracement level of the last drop from the $0.7142 high to $0.6471 low is positioned near $0.6806 to prevent recoveries. On the downside, the $0.6450 and $0.6400 levels are important supports, followed by $0.6200.
Looking at the technical indicators:
Hourly MACD The MACD for XRP/USD is slowly recovering from the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for XRP/USD is moving higher from the 30 level.
Major Support Level $0.6450
Major Resistance Level $0.6800
Legendary venture capitalist Fred Wilson has issued an open response to Warren Buffets recent claim that bitcoin is equivalent to rat poison squared is fundamentally flawed. The American investing tycoon, Wilson said, has not done his research. Why Bitcoin Has Value Speaking at the Consensus 2018 conference in New York City, Wilson said that the Continued
The post Why Warren Buffett Is Wrong on Bitcoin, According to Legendary VC Fred Wilson appeared first on CCN
So, JP Morgan bashes the crypto and develops its blockchain. Nothing new!
Crypto markets have been yo-yoing all week, one day up the next down. We end the week in the red once again as prices have fallen across the board and Asia is leading the selloff. Total market capitalization has fallen to its lowest level in a month and Bitcoin has shed another 4% on the day. Currently BTC is hanging precariously close to $8,000, if it falls below this things will get messy fast. Altcoins as usual have been hit even harder with a sea of red across the boards this morning. Only one way outside the top 25 is posting a gain today, and it is DigixDAO.
There has been no negative news or governmental clampdowns to spark this sell off but all gains over the past 30 days have been wiped out once again. Coinmarketcap is showing that the only altcoin resilient to a bearish market is DigixDAO once again. Currently trading at $198 DGX is up 3.5% on the day from $190 this time yesterday. It ends the week at a similar level to where it started, around the $200 mark. Over the month however there have been losses for DGD of 17.5% from $240 to its current level. Against BTC Digix is up almost 8% to 2461000 satoshis from 2283000 sats this time yesterday. There have been no weekly gains on Bitcoin as DGD was trading at roughly the same level this time last week.
In a time tested pattern DigixDAO always performs well in a bearish market. Being based on gold gives this altcoin more stability than any of the others and traders tend to buy up when the rest are falling. DGX was recently listed on Tokenlon decentralized exchange which may have given it a further boost;
DigixGlobal "NO Giveaways" (@DigixGlobal) May 15, 2018
Currently trade is being driven by Binance with 87% of the total. Volume has increased in the past 24 hours by 66% from $2.3 million to over $14 million. Its market cap has been bolstered by this and currently stands at just under $400 million. DGD is ranked at 49th in the charts and is the only altcoin in the top 50 showing gains at the moment.
Total market capitalization fo...
The project thats building a network for decentralized applications layer for the internet, Blockstack, has announced the launch of a new universal Dapp (decentralized application) store called App.co. The aggregated list of roughly 138 ecosystem-wide applications that offer utility by harnessing the benefits of decentralized technologies like blockchain, cryptocurrencies, IPFS, Zeronet, and more.
One thing is for sure the internet is heading more and more towards a decentralized path every day. The team over at Blockstack project aims to make this technological trend and advancement flourish with their own systems and collaborating with other Dapps. This week Blockstack released its Dapp store called App.co which features a bunch of platforms tethered to the decentralized ecosystem.
Whether you are downloading Metamask to use an Ethereum dapp, or logging in with a Blockstack ID and granting a dapp access to your encrypted data storage hub, inherent to all these dapps is the true ownership of your data,...
A Japanese bank has formed partnerships with specialists in cryptocurrency security and Bitcoin investment managers to become the first crypto custody bank.
Institutional investors have been restricted from making large-scale investments in digital assets due to the lack of security and infrastructure. Now Japanese Bank Nomura has formed partnerships to become the first bank with the ability to provide custody services for digital assets. The new venture dubbed Komainu is a joint effort between Nomura with Ledger, cryptocurrency wallet, and security service provider, and Global Advisors, an investment manager focused on Bitcoin.
Komainu has been established to service the rising institutional investment interest in cryptocurrency demonstrated by moves like JP Morgan Chase opening the first Wall Street digital asset trading desk and a Reuters survey that concluded one out of five financial institutes have plans to move into the space in 2018 by providing the investment management industry with infrastructure and an operational framework. It will also provide standards of best practices for digital assets investing.
Jez Mohideen, global chief digital officer, at Nomura was quoted by The Trade speaking about the new partnership, he said: Global investment managers have long been held back from full participation in digital asset markets, limited by operational and regulatory risk. He continued speaking about the future services;
Our new partnership will set the required standards that will bring peace of mind to digital asset investors and provide tools and products to enable better integration with more traditional investment vehicles such as mutual funds.
To date, only exchanges have offered cryptocurrency storage services in hot or cold storage wallets. However, as proven by major breaches in security like the January Coincheck hack in which nearly $500 million worth of digital tokens were siphoned from the exchanges storage concerns about the lack of robust security have kept institutional investors from putting large amounts of money into cryptocurrencies.
Nomura trusts that Komainu will satisfy institutional security concerns by offering guaranteed asset administration and fund management services. Jean-Marie Mognetti, co-principal of Global Advisors Holdings commented on the joint venture saying;...
Bitcoin Price Key Highlights
Bitcoin price has completed its correction and is on its way to test the downside targets marked by the Fib extension tool.
Technical Indicators Signals
The 100 SMA is below the longer-term 200 SMA to confirm that the path of least resistance is to the downside or that selling pressure could persist. These moving averages have also held as dynamic resistance on a quick pullback and might continue to keep gains in check.
Price is currently testing the 38.2% extension at $8,000 and a move lower could lead to a test of the 50% extension at $7,316. Stronger selling momentum could take bitcoin price down to the 61.8% extension at $6,694 near the swing low or the 78.6% extension at $5,808. The full extension is located at $4,680.7.
RSI is pointing down to signal that sellers are in control of the game and could take bitcoin price for further losses. Stochstic is also heading south but is dipping into oversold levels to reflect some exhaustion and hint at a possible return in bullish momentum.
If the 38.2% extension is enough to keep losses at bay, bitcoin could still have a shot at forming an inverse head and shoulders pattern. This would be a classic reversal signal, hinting that price is done with the drop and that a longer-term uptrend is in the works. Price has yet to break past the neckline at $10,000 for this to happen though.
It would take a really strong market catalyst to spur such a strong climb, especially since the $10,000 handle has held as a ceiling for quite some time. So far, investors seem more cautious on the rejection at key inflection points.
The post Bitcoin Price Watch: Revisiting the Downside Targets appeared first on NewsBTC.
Ethereum price is under pressure against the US Dollar and Bitcoin. ETH/USD is now well below $700 and it remains at a risk of more losses.
Yesterday, there was a minor upside move above $700 in ETH price against the US Dollar. However, the price was not able to move above the $720 resistance. It traded as high as $719.77 before it started a downside move. The price declined sharply and moved below the $700 support level. The decline was strong as there was a close below $700 and the 100 hourly simple moving average.
More importantly, there was a break below an ascending channel with support at $690 on the hourly chart of ETH/USD. The pair traded below the $670 level and formed a low at $656.16. It is currently consolidating losses above the $656 level. At the moment, the 23.6% Fib retracement level of the last decline from the $719 high to $656 low is acting as a resistance. However, there are many barriers on the upside near $690. The stated $690 level was a support earlier, and now it is likely to prevent upsides.
Looking at the chart, the 50% Fib retracement level of the last decline from the $719 high to $656 low around $687 may well act as a strong hurdle. On the downside, the recent low of $656 is a short-term support, below which, the price may trade towards $638 in the near term.
Hourly MACD The MACD has moved back strongly in the bearish zone.
Hourly RSI The RSI is currently recovering from the oversold levels.
Major Support Level $656
Major Resistance Level $690
The post Ethereum Price Analysis: ETH/USDs Support Turned Resistance appeared first on...
Bitcoin cash price is under pressure below $1,300 against the US Dollar. BCH/USD is likely to extend declines further if it fails to move above $1,250.
Recently, there was a minor upside correction above $1,300 in bitcoin cash price against the US Dollar. The price traded towards $1,340 where sellers appeared and protected more upsides. As a result, the price started a fresh downside move and declined back below $1,300. Sellers gained momentum, which pushed the price even below the $1,240 and $1,220 support levels.
The decline was such that the price almost tested the $1,150 level. A low was formed at $1,156 from where an upside correction is currently underway. It is currently testing the 23.6% Fib retracement level of the last drop from the $1,339 high to $1,156 low. However, there are many hurdles on the upside for buyers near $1,220-50. There is also a major bearish trend line formed with resistance at $1,250 on the hourly chart of the BCH/USD pair. Moreover, the 50% Fib retracement level of the last drop from the $1,339 high to $1,156 low is near $1,248 to act as a resistance.
Looking at the chart, the price is clearly under bearish pressure below $1,250. A break above $1,240-50 is needed for a bounce back, else there is a risk of more declines towards $1,100 in the near term.
Looking at the technical indicators:
Hourly MACD The MACD for BCH/USD is mostly moving in the bearish zone.
Hourly RSI (Relative Strength Index) The RSI for BCH/USD is currently recovering from the 30 level.
Major Support Level $1,150
Major Resistance Level $1,250
The South Korean government reportedly plans to soften its crypto regulations in line with the policies set by the G20 nations in an effort to create unified regulations. The Korean regulators have also agreed to apply the standards set by the Financial Action Task Force to its crypto policies.
South Korea is reportedly planning to follow the policies set by the G-20 nations and soften its crypto regulations, the Korea Times reported.
The G20 is an international forum for the governments and central bank governors. Its members are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States, and the European Union.
The top financial policymakers of these countries have agreed to acknowledge and regulate cryptocurrencies as financial assets, the news outlet noted, elaborating:...
Get Ready A New Currency Is Coming Video X22 Report People of other countries are using cryptocurrency to get their funds out of the country. Iranian people are doing this right now, people of Argentina and Venezuela have done...
The bitcoin price sank below $8,000 on Thursday for the for the first time since mid-April, further erasing the progress that the flagship cryptocurrency had made over the previous month. Bitcoin had traded near $8,300 for the majority of the day, but this support level began to falter heading into the early evening. At approximately
The post Newsflash: Bitcoin Price Drops Below $8,000 as Bears Twist the Knife appeared first on CCN
Why Gold Is The King Monetary Asset, Not Bitcoin by Steve St Angelo SRSRocco Report There seems to be a lot of misinformation being peddled on the internet about gold and bitcoin. One major misconception is the notion that...
Another cryptocurrency project has been busted by law authorities in China for allegedly soliciting money from investors with fraudulent claims. According to Guangdong Daily, a provincial government organ in China, authorities in Shenzhen arrested six people Monday who allegedly defrauded 3, 000 Chinese investors out of $47 million by promoting a cryptocurrency they promised was endorsed by a commodity. The six suspects formed a company based in Shenzhen known as PEB, which beginning in January 2017 issued a blockchain powered token dubbed Puer Coin, in accordance with the report. The projects web site says buyers of the token are eligible to maintain a contract representing ownership of a certain sum Tibetan tea Puer the company has in stock, which it asserts to be worth billions of dollars.
Whilst the token could be then exchanged into a secondary marketplace called Jubi.com, another web site claims the contract may also bring a 12 percent annual return if investors decide to lock their funds for 12 months. In accordance with the police investigation, although the company had only a very restricted quantity of the tea in stock, it promised large short term returns to investors in social networking promotions and roadshows at high end resorts. The authorities said that the project succeeded in bring a substantial number of investors by manipulating the secondary marketplace with its own funds to drive up the tokens price twentyfold in the course of 2017.
In fact, this weeks crackdown might not be completely surprising as the company has received a warning and a nice late last month from Chinas State Administration for Market Regulation, whose mandate is to ensure fair and only marketplace competition. The jurisdiction fined the company $20 million to disseminating false claims in an advertisement that touted its allegedly massive stockpiles of the Tibetan tea to back the token. The arrest marks another noteworthy suppression of alleged cryptocurrency fraud in China as law enforcement from the nation have beefed up efforts to battle illegal fundraising. As previously reported by CoinDesk, authorities from Xia have arrested the creators of an alleged nationwide cryptocurrency pyramid strategy thats thought to have amassed $13 million from over 13, 000 people. Police image via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Just nine months after their CEO branded the leading crypto asset a fraud, JPMorgan Chase appear to be starting to take digital currency more seriously. They announced today that they have appointed a head of crypto-assets strategy.
Taking the newly created role at the U.S. multi-national bank is 29-year-old Oliver Harris. Harris was formerly the head of JPMorgans Fintech and In-Residence programme. He held the position since 2015. His new appointment will see him exploring the use of digital currencies in the financial institution. According to Financial News London, this will involve analysis of the risks and rewards of implementing both blockchain technology and digital currencies themselves.
Harris new position will involve him reporting to Umar Farooq, the current head of blockchain initiatives for JPMorgans Corporate and Investment Bank. His change of direction was announced internally on Wednesday although his replacement as the Head of Fintech and In-Residence programme is still unknown.
The new head of crypto-assets strategy will also oversee JPMorgans Quorum project an in-house blockchain initiative. The bank are actually considering turning Quorum into its own company, but for now are seeking a couple of blockchain engineers and a community manager in New York.
The move to appoint Harris to the newly created position represents quite the turnaround for JPMorgan. It appears that the financial powerhouse might finally be taking cryptocurrency seriously enough to warrant such exploration.
Such a change of heart might have something to do with their rivals at Goldman Sachs who are appearing to adopt a much warmer attitude towards digital currencies. They recently announced that they had plans to open up their own cryptocurrency trading desk by mid-2018.
Despite todays news hinting that JPMorgan are taking cryptocurrencies more seriously, some of the most influential figures there are still sceptical of the technology. Earlier this week, we reported on Daniel Pinto, the co-president of JPMorgan, speaking about digital currencies to CNBC. The 55-year-old Argentinian told the publication that cryptocurrencies might evolve into something useful but at present, they didnt represent much utility. He did however mention that they were looking into that space.
However, even the still very much on the fence attitude that seems to be coming from JP...
Russias Prime Minister Dmitry Medvedev has shed some light on the progress authorities are making towards adopting the long-awaited crypto regulations. Legislators will replace common words like cryptocurrencies and tokens with legal terms such as digital money and digital rights, he revealed. Two draft laws have been filed in the Duma. One of the bills is scheduled for first reading next week.
The work on the Russian crypto regulations has been going on for some time, with unresolved questions and disagreements between institutions postponing their adoption....
The Swiss government has called for a study to examine the possible risks and opportunities of a government-issued cryptocurrency called the e-franc
Another cryptocurrency project has been busted by law enforcement in China for allegedly soliciting money from investors with fraudulent claims.
The Tel Aviv Stock Exchange in partnership with Intel, Accenture and The Floor, has developed a blockchain-based securities lending platform
A pseudonymous developers team have created a family of new consensus protocols for blockchains. Cornell University professor and blockchain researcher Emin Pier Sier announced the new protocols Thursday at Token Summit III in NY, explaining that they combine what he referred to as the classical consensus and Nakamoto consensus models in blockchain network decision making. The way this protocol works is incredibly simple, but incredibly strong, he said. Sirer and his team have been working on a white paper for this protocol family for months, he said, however it was developed by a pseudonymous team called Team Rocket after the Pokmon characters.
Referred to as Snowflake, Snowball and Avalanche, the protocols randomly sample network participants, and eventually choose a single result, Sirer said. They rely on randomness plus they rely on arbitrary interactions and yet they ensure after the interactions everybody has decided the same thing.. In accordance with the white paper: Inspired by gossip algorithms, this new family gains its safety through an intentionally metastable mechanism. Particularly, the system operates by repeatedly sampling the network at arbitrary, and steering the right nodes towards the same result.. Nakamoto consensus protocols require miners to agree to a specific decision before it may be enacted, while a classical consensus requires a two thirds plus one majority, Sirer said during his talk.
Nevertheless, not everybody agrees that this is a new breakthrough. Ethereum developer Vlad Zamfir said on Twitter that because of the nature of the protocol, it fails to combine the best of Nakamotos consensus with the best of classical consensus as Sier claimed. Zamfir, whos the leading researcher behind ethereums upcoming proof-of stake protocol Casper CBC, said the new protocols combine the worst of both worlds, because of aspects of the code which can lead to a weakened security. It isnt asynchronously safe and it is probabilistic, he said, later adding do not get to take a probabilistic model of the network for granted .. William Mougayar and Emin Gü, n Sirer image by Nikhilesh De for CoinDesk. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Whether EOS is leading the market or not is just but speculations based on historical prices. We need directions from market participants. As it is, buyers seem to be making a turn around despite yesterdays candlestick characteristic. EOS is up six percent in the last 24 hours with interesting technical developments panning out in the daily chart.
Just to clarify, Block One is a software company that is behind EOSIO-and not the other way! By now you might have read somewhere that EOSIO will be migrating from the Ethereum blockchain to their brand new blockchain. Yes, investors are super excited especially with the prospects of free transactions and the fact that more and more companies have plans on launching on the platform (software)-we are yet to know. That not only means demand but its a bit subtle statement of acceptance and confidence from third party companies. Its really a go ahead for Dan and his crew.
In a video about the 'eos-bios' to launch the #EOS mainnet, @bourgetalexndre walks Block Producers through what they need to know to join the Seed Stages running now.
Come learn what is needed & how to run the discovery file https://t.co/3pIsfQeUEB#EOSIO $EOS @TBCox @go_eos
EOS Canada (@EOS_Canada) May 11, 2018
And indeed it is a go ahead all happening at a time when Dan Larimer and Vitalik have all but agreed to work together for the sake of this nascent technology. Of course, Vitalik input in this sphere is all crucial. I mean, hes just but a teenager but most see him as Einstein in these streets. A genius behind EVM and smart contracts, so, this to me is important....
Besides EOS that have subtle hints of higher highs following May 16 bullish pin bar or spring, other coins including Tron are printing negative gains in the last 24 hours. Of note is how Stellar Lumens prices are behaving despite good news. Despite everything, it is engaging the sell gear and slowly aiming for 30 cents, a key and important support line in our analysis. Overly, we remain bullish on EOS and Tron and all we should be doing is waiting for timely entrants with minimum risks to ramp up longs with targets at $22 at EOS.
Lets have a look at these charts:
There is nothing much going on in the fundamental front of this coin. All we do know is that Dan and Vitalik would work together to make the blockchain community better for everyone. After all and unless Quantum computing becomes a reality, blockchain shall remain dominant in the coming years. Now, EOS blockchain launch is what investors are talking about and this is a good thing. Will the positive vibe seep through, prep buyers and help pump EOS prices? Well, thats what Im angling for now that EOS is up six percent in the last 24 hours.
Price wise, there are hints of price reversal especially if we pull May 16 candlestick. Then we saw EOS buyers rejecting lower prices because while the trend is negative, prices dont follow suit. Instead it moved within a tight price range and yesterdays candlestick was but a mere confirmation of those buyers. Yes, we have a long upper wick signaling sell pressure but if todays close end up above $14, there is a valid reason to go long.
Now everybody, Doge/Litecoin atomic swap is now possible! Thanks to Komodos HyperDEX, traders would in the future transact seamlessly using the two coins without fear of extra fees or going through an e...
Cryptocurrencies can now be traded on the peer-to-peer online marketplace Openbazaar in addition to physical goods, digital goods, and services. Initially, 44 cryptocurrencies are supported but the development team plans to add more over time. There is no fee for trading cryptocurrencies and no need to register with any service.
Coinbases new venture capital fund has announced a strategic investment in Compound, a startup that is building money market accounts for cryptocurrency investors. Compound is the first project to receive venture funding from Coinbase as part of the companys new efforts for fostering blockchain innovation. As CCN reported, Coinbase announced the new venture fund to Continued
The post This Coinbase-backed Startup Lets You Earn Interest on Your Cryptocurrency Holdings appeared first on CCN
Canadian blockchain venture Decentral Inc. and its
multi-currency digital wallet Jaxx announced the upcoming release
of the new Decentral
Project, along with some of its primary initiatives. At a
lavish United by Decentral event held on the Cornucopia Majesty
yacht, the company closed out Consensus 2018 in New York City with
a series of presentations outlining their new initiatives.
Part of the interface will include a sort of Wikipedia of decentralized tech, which Jaxx has dubbed Decentral Academy. It will offer a simplified means of explaining technologies, the projects, different coins and tokens in an objective, meaningful way. According to the video, projects will be explained in a non-biased fashion, terms will be defined and the masses will have a source for information in one place.
What Jaxx is creating is like the browser for the internet a single place to discover and enable the blockchain journey, Coinberry president Andrei Poliakov said to Bitcoin Magazine. Coinberry [is] so excited to be an early exchange partner to help enable instant account setup and easy withdrawals for Canadian bitcoin and ether holders.
Another consumer-engagement feature of Jaxx Liberty will include the Decentral Collector Cards: physical, unique, verifiable cards based on different communities in the blockchain space. They will be tied in with the platforms gamification elements and sold in packs online to start.
The second announcement introduced Decentral Unity, the new loyalty system and coin for Jaxx Liberty and the entire Jaxx line of products. Among other uses, the Unity coin will reward users for engaging with the companys numerous partners within the platform.
Jaxxs incentive-based model is designed to instill confidence in its partners and encourage them to build on Jaxx Liberty. Decentral expects the project to garner as many as 10 million users per month.
The old paradigm of unifying the world through centralization has failed, said Justin Fisher, co-founder and CEO of VeriBlock, one of the Jaxx Libertys partner companies. I believe that wha...
Malta has entered a partnership with Omnitude, a multi enterprise blockchain middleware platform, to use the blockchain to boost its public transport service by developing a transportation and logistics platform employing the companys middleware technology. Ian Borg, Maltas Minister of Transport, Infrastructure and Capital Projects, commented in a news release, We believe in Omnitudes blockchain technology and its wide use cases for the authorities. We may see its potential in a wide range of government departments and itll develop a cornerstone technology stage as part of our commitment to drive forward innovation. Itll improve the quality of life and improve access to information such as Maltese citizens.
Blockchain technology is an integral part of our national technology strategy which will see us alter different sectors. ,Omnitude first surfaced as a brand new concept in blockchain ecosystems by an existing ecommerce agency. The company seeks to build further blockchain solutions which integrate both business apps and supply chains. Maltas authorities has also approved the block chain strategy earlier this season, which makes it one of the earliest nations in the world to integrate a national strategy based on its technologies. Apart to work on improvements to the nations transport system, Omnitude can also be partnering with Formula One to deliver blockchain advantages to advanced racing and technology jobs.
Chris Painter, Chief executive officer and founder of Omnitude, clarified, Governments around the globe are starting to see the potential of blockchain to lessen costs and streamline services. Malta has a very progressive government and we are pleased with the potential that this partnership brings. As a middleware technology, Omnitudes possible use cases are vast and we anticipate working with the government to explore the capabilities of Omnitudes broad based blockchain ecosystem. ,Since ancient March 2018, Malta has worked tirelessly to establish itself as a Bitcoin hub. The nation lately welcomed the Hong Kong Binance in the region where its now establishing newfound residency following regulatory scrutiny in Asia. In only a year older, Binance is among the largest and most popular cryptocurrency exchange in the world. Weeks after, it was declared that Japanese trading exchange OKEx and blockchain based equity fundraising platform Neufund were launching offices inside the islands borders. Malta further cemented its reputation as a blockchain enthusiast by proposing 3 new cryptocurrency bills, such as The Bill on Digital Innovation Authority Bill to concentrate further on government structures and oversee the legality of dispersed ledger technology platforms, the Technology Arrangements and Services Bill, which requires technology service providers to undergo a registration process, along with the Virtual Financial Assets Bill, which seeks...
Malta has entered a partnership with Omnitude a multi-enterprise blockchain middleware platform to use the blockchain to enhance its public transportation service by developing a transport and logistics platform using the companys middleware technology.
Ian Borg, Maltas Minister for Transport, Infrastructure and Capital Projects, commented in a press release, We believe in Omnitudes blockchain technology and its broad use-cases for the government. We can see its potential in a range of government departments and it will form a cornerstone technology platform as part of our commitment to drive forward innovation. It will improve the quality of life and enhance access to information for Maltese citizens. Blockchain technology is a key part of our national technology strategy that will see us transform different sectors.
Omnitude first emerged as a new concept in blockchain ecosystems from an existing ecommerce agency. The company seeks to build further blockchain solutions that integrate both enterprise programs and supply chains.
Maltas government had also approved a blockchain strategy earlier this year, making it one of the first countries in the world to incorporate a national strategy based on its technology.
Aside from working on improvements to the nations transportation system, Omnitude is also partnering with Formula One to bring blockchain benefits to advanced racing and engineering projects.
Chris Painter, CEO and founder of Omnitude, explained, Governments around the world are beginning to see the potential for blockchain to reduce costs and streamline services. Malta has an extremely progressive government and were excited about the potential this partnership brings. As a middleware technology, Omnitudes potential use-cases are vast and we look forward to working with the Maltese government to explore the capabilities of Omnitudes broad-based blockchain ecosystem.
Since early March 2018, Malta has worked hard to establish itself as a Bitcoin hub. The country recently welcomed Hong Kongbased Binance to the region, where it is now establishing newfound residency following regulatory scrutiny in Asia. At only a year old, Binance is one of the largest and most popular cryptocurrency exchanges in the world.
Weeks later, it was announced that Japanese trading e...
Wall Street veteran Steve Eisman rose to fame by shorting the sub-prime mortgage market ahead of last decades financial crisis. Now, hes similarly-bearish on a new asset class: cryptocurrency. Eisman, whose career is chronicled in The Big Short, told CNBC that he has yet to meet anyone who can persuasively argue that cryptocurrencies have social Continued
The post Bitcoin Only Used for Money Laundering and Speculation: Big Short Investor appeared first on CCN
A Singapore-based startup is working on combining blockchain with HTML5 technology to create the worlds first HTML5 blockchain games and apps development tool #SPONSORED
Cornell University professor Emin Gun Sirer announced a new family of consensus protocols at Token Summit on Thursday.
Bitfinex has required tax information from its users, which it may then exchange with the government and tax authorities of the customers country of residence
The Tel Aviv Stock Exchange is teaming up with Accenture and The Floor, an Israeli fintech hub, to build a blockchain securities lending platform aimed to permit direct financing of all financial instruments. The BSL will act as an one stop shop for all securities lending activities, permitting access to larger securities volumes within shorter time frames, even working in shorter term positions, a media release states. With the use of distributed ledger technology from blockchain consortium Hyperledger, the platform was designed to lessen costs, increase safety and provide more flexible financing tasks. More importantly, the project has been developed on top of Hyperledgers Sawtooth platform, with hardware based Software Guard Extensions security provided by Intel.
Blockchain, the companies say, empowers better information privacy between the parties involved with transactions, as well as peer-to peer transactions, smart contract functionality and the safety of an immutable ledger. Ittai Ben Zeev, Chief executive officer of TASE, stated: Blockchain technology will present a brand new level of security for securities financing and will encourage growth for transactions based on this new platform. Without a doubt, TASE is now, more than ever before in the past, a worldwide financial innovation leader. . For its role within the project, Accenture will work on the platforms smart contracts development, as well as providing other services to encourage the BSL platform, including project management, system integration, cybersecurity consulting, and others.
Were extremely pleased to offer our experience and capabilities in blockchain, capital markets and fintech ecosystems in order to facilitate this exceptional collaboration, said Jacob Benadiba, controlling your stresses director of Israel Accenture. This project will assist TASE make a sophisticated end-to end solution that addresses their business, technological and security needs under an extremely strong new paradigm. . TASE image via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Indian IT giant Infosys is exploring the potential of Blockchain Technology to bring new efficiencies in Trade Finance. Infosys Finacle, a subsidiary of the company, announced Wednesday the development of a trade network called India Trade Connect in partnership with seven Indian private banks, including ICICI, Axis Bank, South Indian Bank and Yes Bank. The blockchain based network was created to digitize trade finance business process and covers areas like ownership validation, accreditation of documents and payments. ITC is currently being utilized by the banks for an aviator project, utilizing the blockchain based solution to, a release states, increase automation and transparency, and helps manage risks in trade and supply chain financing.
According to Infosys, ITC was built to be blockchain agnostic in order to future proof the network against future changes in technology. Sanat Rao, chief business officer at Infosys Finacle, said he hopes to bring more banks into the consortium in order so that they can learn more about the potential advantages of blockchain systems. Rao said: Digitization of trade finance processes using distributed book technology offers immense potential to get rid of friction, reduce costs and increase revenues through new commercial products which are now viable utilizing the modern technologies.. ICICI bank, which lately announced a blockchain trade finance initiative involving over 250 companies, said that the partnership will allow automation, increase transparency as well as improve efficiency in business and supply chain operations..
Moving Forward, the group aims to create a complete blockchain ecosystem, thus contributing towards greater adoption of this technology, said Ajay Gupta, Senior General Manager of ICICI Bank. Infosys building image via Shutterstock. The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Messaging apps are dominating the way people communicate these days. Whereas the phone was a revolutionary invention back in the day, it preceded future developments that made it practically obsolete: Internet, SMS, VoIP services, and now messaging apps.
SuchApp is, however, much more than a simple messaging app. It is an entire ecosystem that encompasses real-time and location-based messaging, 4K broadcast video, a radar, granular security and influential community and business communications capabilities.
Monacos elite choose SuchApp
Such is the power and influence of its versatile set of features that SuchApp that it recently secured the support of a group of influential businessmen and millionaire society in the Monaco area, one of the most exclusive and exotics places in the world. Those people are excited to contribute to the planets first 5G blockchain-based instant messaging app.
After all, the Monaco group is looking to seize in the vast opportunities that the market of social media messaging industry worth approximately $90 billion provides. The people, 20 charter members, are very powerful themselves, with a net worth that approaches $90 billion.
The group met in Monaco to get to know SuchApp from a very close look. The app can optimize the way businesses are run. Besides communicating with other people, SuchApp provides the chance to buy, sell and trade goods and services and make payments with an associated digital currency.
For a first time, members of the society choose a blockchain project to invest. SuchApps business tools and model, including the design of the instant messaging app, impressed all viewers and observers so much that the Monaco millionaire society will conduct all financial operations via the SuchApp interface.
The CEO of SuchApp, Ronny Shany, welcomed the investment made by the Monaco group and stated that the enterprise as a whole was proud because such as distinguished and savvy businessmen team recognized the potential of this ambitious project.
The group of investors, meanwhile, has said that their intention is to take full advantage of SuchApps features and offerings, including connecting and engaging with fellow businessmen and investors in private groups. For now, only members of the billionaire society can access the group, but the plan is to broaden the selection criteria in the future.
The recipe for success
The magic of SuchApp and some of the traits that the billionaire group in question has identified is that it combines many of the most prominent messaging apps and social media outlets traits. It gathers the best of YouTube, Facebook, WhatsApp, and even Instagram, all in one versatile ecosystem.
It is a perfect tool for businesses as well, as it allows them to maximize earnings and investment opportunities by enhancing thei...
According to a new study, the Bitcoin network could be consuming as much as 0.5% of the worlds total electricity a number comparable to the amount of power used by the entire country of Ireland.
That said, determining exactly how much electricity the Bitcoin network uses, necessary for understanding its impact and implementing policy in the future, is not straightforward.
According to blockchain specialist Alex de Vries, who works at the tax advising firm PwC in the Netherlands:
Weve seen a lot of back-of-the-envelope calculations, but we need more scientific discussion on where this network is headed. Right now, the information available is pretty poor quality overall, so Im hoping that people will use this paper as a foundation for more research.
The estimates, based on de Vries background in economics, put the minimum current usage of the Bitcoin network at 2.55 gigawatts as noted, almost as much electricity as Ireland. Another comparison puts a single transaction as using about as much electricity as an average household in the Netherlands uses in an entire month.
One of the biggest factors that contributes to the coins high electricity usage is also an inherent part of its design. Since its inception Bitcoins decentralized consensus has been enabled by its proof-of-work (PoW) algorithm, and the mining machines that perform this work need tremendous amounts of energy to do so.
According to research published in April by equity analyst Charlie Chan and his team at Morgan Stanley, the key price point for Bitcoin mining profitability is $8,600. As per their simulation, if the coin cant stay above $8,600, many Bitcoin miners will likely find it unprofitable to keep creating the cryptocurrency.
Moving forward, the electricity needed to operate the Bitcoin network is only going to increase. By the end of 2018, de Vries pre...
Innosilicon Terminator 2 (T2) Miner is a new SHA256 ASIC miner for mining Bitcoin (BTC) and other crypto currencies using the same algorithm that uses 10nm production process for the computing chips inside the device. It is not the first ASIC miner to use 10nm process, but it seems that is the next step for achieving higher performance without the need for a lot more power. The Innosilicon Terminator 2 ASIC miner should be capable of delivering 17.2 THS at about 1570W of power usage according to the official specifications of the device.
There is no information about pricing and the official website of the company has not yet started accepting orders for the newly announced device. Halong Mining have recently also announced their DragonMint T2 ASIC miner (still not on sale) that delivers 17 THS at similar power usage and is also based on 10nm (this is also the company that was apparently first with 10nm ASIC miner). We are yet to see a new generation of Bitcoin miners using 10nm production process from other larger ASIC manufacturers such as Bitmain and Canaan, but we can surely expect them to join the fun soon too
Entrepreneur and investor Vladislav Martynov has joined the World Wi-Fi team as a co-founder. His extensive experience and expertise in the blockchain industry will significantly strengthen World Wi-Fis position on the global market.
The sharing economy is growing rapidly, and I believe the implementation of blockchain solutions in this area will accelerate the growth and expansion of the sharing economy market as well as the mass adoption of the blockchain technology. That is why I joined the World Wi-Fi project, said Vladislav Martynov.
The World Wi-Fi project is a decentralized free Wi-Fi network that aims to connect at least 20 million Wi-Fi routers to its global platform and reach an annual turnover of $1 billion within three years. The project team has already concluded several preliminary agreements with major advertising agencies and reached a number of agreements on joint testing of the World Wi-Fi platform, including the Saudi-based PolarisNet and the Japanese investment company Atma Inc (crypto media agency CoinTokyo).
World Wi-Fis TOKENSALE will end today, 18 May 2018. To date, World Wi-Fi has already raised more than $24 million, which is enough to implement full-scale coverage of all regions in the European Union, Asia, America and Australia, and in the future to deploy the World Wi-Fi network around the world. Vladislav Martynov believes in the future success of the project and contributed in the token sale himself.
Vladislav Martynov is well-known as a successful entrepreneur with 25 years of experience in the field of digital technologies in a variety of technology projects in international markets.
Yota Devices, the developer of YotaPhone (the worlds first phone with two screens) is one of the most famous successful projects that Vladislav realized. Under his management, an international company was created from scratch, developed a unique device and organized mass production and sales in over 20 countries, ensuring its presence in the global smartphone market. Within 5 years the company achieved a capitalization of $154 million.
For the last few years, Vladislav has been actively working with young startups, investing in applied solutions based on breakthrough technologies such as blockchain and artificial intelligence. Among his projects are BlockGeeks (the largest online service for learning blockchain technologies) and Iceberg (the largest online sports analysis service).
As the Head of Ethereum Competence Center, Vladislav is responsible for developing the ecosystem around blockchain technology and providing consulting support to entrepreneurs, large companies and government org...
The bitcoin price is too volatile to make it a useful payment tool for merchants, PayPal CFO John Rainey claimed in a recent interview. Bitcoin Price Too Volatile for Merchants Rainey made this claim during a recent episode of Mad Money, explaining that merchant margins are too thin to make bitcoin a viable payment medium. Continued
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On May 17 the Digital Currency Group initiative and Over-the-Counter (OTC) cryptocurrency service, Genesis Global Trading, announced that Genesis was recently granted the New York state Bitlicense. The company that provides OTC solutions to institutional buyers can now operate freely in New York A territory that many call, the financial capital of the world, as Genesis aims to provide significant BTC, BCH, ETC, LTC, ZEC, XRP, and ETH liquidity in the state.
Genesis Global Trading has announced the firm has been granted the Bitlicense, and the company will be allowed to operate in New York with other approved businesses such as Coinbase, Circle, and Itbit. The New York Department of Financial Services (DFS) approved the company and provided Genesis with the Bitlicense which will...
Chinese mining manufacturing firm Bitmain will consider AI as an alternative revenue source if Chinas regulatory environment makes crypto-related business too risky
IT giant Infosys has built a blockchain-based trade finance platform involving seven Indian banks including ICICI and Axis.
JPMorgan has created a new position, head of crypto assets strategy, which will identify and lead new crypto projects at the bank
Australias Digital Transformation Agency (DTA), which works with government agencies, users, and private sector partners to develop public services, has announced it is studying the use of blockchain for welfare payment distribution. A prototype could be in the market come mid-2019.
The approved Australian 2018-19 Budget last week included a sum of AU$700,000 intended to be used by the DTA to explore distributed ledger technology for efficient government services purposes, according to Randall Brugeaud, acting CEO of the DTA, who made the announcement at the CeBIT Australia conference in Sydney.
Our plan is to look for use cases across the Commonwealth with an initial focus on the welfare payment delivery system, then working with our digital service standard, well conduct user research with a view to having a prototype by the end of next financial year, he explained. The potential of blockchain to securely record transactions will be investigated, drawing on the experience of other public and private sector organisations.
The DTA is looking to instances across both government and the private sector to determine the best blockchain-based Commonwealth service delivery. The agency is looking at all possibilities, from benefits of employee buy-in to machine-learning, artificial intelligence, and security, to further business goals despite the difficulty of choosing the right fit for each case.
Well also build on work done across government already, such as the CSIROs work on distributed ledgers. Were looking at how these technologies might offer automated service channels that are closer to the human experience; this might include intelligent chatbots, or voice-enabled channels which are proving to be effective in other sectors. We think these have the potential to deliver significant benefits for government service delivery, Brugeaud said.
Aiming to make its services more consumable by other government departments, the DTA is also about to pilot a digital identity system in October 2018 in a bid to tackle the 30 different logins across government platforms and make it easier for end users to deal with public affairs.
There are 750,000 applications for tax file numbers (TFN) each year. Digital identity will shrink to minutes what is currently a month-long process. The DTA will gradually expand digital identity to grants management, business registration, and student services, which should result in around 2.8 million online transactions.
The new digital identity platform comprises of the identity provider and the exchange. The f...
Steem, a blockchain rewards platform that allows content publishers to monetize their work, announced today that the project has reached one million registered accounts. An update from the official Steemit blog confirms the one millionth registration on the blockchain, and shows even more impressive stats on transactions, user activity, and unique visitors. Steem is exploding Continued
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The Luckchemy platform, a blockchain based iGaming platform, recently conducted its smart contracts audit and the resulting findings have been highly encouraging for the investors. Since Luckchemy is a platform designed to serve as a complete ecosystem for players, operators and product developers, the team is always eager for its betterment. In this regard, the Luckchemy platforms smart contracts were initially audited by specialists to deliver valuable recommendations. These recommendations were implemented and a follow up second audit was carried out.
The latest audit was completed in April 2018, in two phases. The first phase involved technical audit to identify security flaws in the contracts development and implementation. The second one was focused on evaluating the compliance of the contracts with public documentation and applications. By way of the strict audit process, Luckchemy establishes that its smart contracts are secured and free from critical vulnerabilities.
Good News for Investors
The investors following Luckchemy ICO are satisfied with the audit findings, stating that true information has been presented to them in the ICO and whitepaper, by the company. Hence, investors are finding Luckchemy a viable and reliable platform and taking part in its on-going token sale that is offering a discount of 40% at present. This discount will be cut to 20% during the upcoming stage. Those interested in the project still have a chance to get involved.
To know more about the platform, its recent audit and to take part in its on-going ICO buying Luckchemy tokens, please visit Luckchemy official website.
Accenture and Intel are to help develop a Hyperledger-based securities lending platform for the Tel-Aviv Stock Exchange.
Lael Brainard, member of the board of governors in the U.S. Federal Reserve, doesnt see a convincing need demonstrated to get a Fed issued electronic currency. Speaking at the Decoding Digital Currency Conference yesterday in San Francisco, California, Brainard said that, while main bank electronic currency might seem to address a number of challenges associated with cryptocurrency, they might not withstand closer scrutiny. . Further, with individuals finding easier ways to exchange digital payments directly through cellular applications along with Other means, American consumers are likely to get numerous mechanisms for making electronic payments in real time. She noted: .
In the end, theres absolutely no compelling demonstrated need to get a Fed issued digital currency . Elsewhere in the speech, Brainard once more made it clear that she believes that cryptocurrency not to pose a threat to financial stability. She noted that the main bank is actively monitoring developments in cryptocurrency in places like obligations coverage, supervision and regulation, financial stability, monetary policy and more. Discussing security concerns with respect to cryptocurrency, such as breaches and fraudulent actions, Brainard said: But, the still relatively modest scale of cryptocurrency with respect to our broader financial system and comparatively restricted connections to our banking sector suggest that they dont currently pose a threat to financial stability. .
The governor continued to say that unfavorable changes in the cryptocurrency market may leads to extreme price fluctuations, trading problems or market breakdowns. To be able to prevent such actions, Brainard stressed that Fed Reserve will continue to monitor cryptocurrency as they develop, with particular vigilance for any sign of growing materiality in the wider financial system . As noted, this not the very first time the Fed governor has spoken on the topic of cryptocurrencies. In Apr of this year, Brainard cautioned individual investors to be knowledgeable as to the possible disadvantages of those investments as well as the potential for reductions.
She said at that Time that Fed is tracking is the intense volatility evidenced by some cryptocurrencies. . Lael Brainard picture via Shutterstock. The leader in blockchain information, CoinDesk is a media store that strives for the highest journalistic standards and adheres to a strict set of editorial policies. CoinDesk is an independent subsidiary of the Digital Currency Group, which invests in cryptocurrency and blockchain startups.
At a meeting with French entrepreneurs, including strategic blockchain developer Blockchain Partner, Frances Minister of Economy and Finance, Bruno Le Maire, has pledged his support for cryptocurrencies and underlying blockchain technologies.
The minister promised his total and determined support for both the crypto and blockchain spaces, while discussing with industry insiders the following topics: banking difficulties, how to tax cryptocurrencies, cryptocurrencies and accounting, and legal frameworks for initial coin offerings (ICOs), according to a report from French news publication Bitcoin.fr.
According to Le Maire, he said in a statement supported by Alexandre Stachtchenko, General Manager of Blockchain Partner and President of Chaintech:
I was a neophyte a year ago, but now Im passionate. It took me a year. Let us show a lot of pedagogy with our fellow citizens to make France the first place of blockchain & crypto-active innovation in Europe.
With regards to the banking industry, Le Maire, who intends to work with Fdration Bancaire Franaise (FBF), discussed common goals for the state and the industry, saying, interests are aligned.
As for taxes, the PFU (Single Lump Sum) is the Ministers preferred method. The idea of taxing cryptocurrencies similarly to precious metals was discussed, but didnt gain much traction. The minister stated that such a move would be risky, and for the longer term entrepreneurs and individuals need a more concrete and consistent tax policy.
Le Maire did not dismiss the idea that some cryptocurrency exchanges may be exempt from the countrys tax policy, but said he wished to further the discussions on tax competitiveness issues to develop relevant and effective measures moving forward.
For accounting which Le Maire clarified is primarily a decision for professionals in the space, and not the legislature he asked the Accounting Standards Authority (ANC) to develop guidelines relating to cryptocurrencies. Although these appear to be just recommendations, the agency is expected to publish its position in the coming months. ...
IBM has partnered with environmental fintech startup Veridium Labs to turn carbon credits tradable instruments that provide an economic incentive to those who want to reduce their greenhouse gas emissions into blockchain-based tokens.
In a joint press release, the two companies announced a collaboration to transform the carbon credit market using IBM blockchain technology with the goal of making it easier for companies to offset their environmental footprints.
"By using a public, permissioned blockchain network, we can help Veridium create a new sustainable marketplace that is good for business and good for the world," said Bridget van Kralingen, senior vice president of IBM Industry Platforms and Blockchain. This is a great example of how industries are being reinvented by blockchain [technology], in this case establishing a far more efficient and transparent approach to carbon accounting and offsetting that will empower individuals and companies to play a role in improving our environment."
A carbon credit is defined as a certificate showing that a government or company has paid to have a certain amount of carbon dioxide removed from the environment. In return, environmental regulations allow the holders of carbon credits to burn a certain amount of fossil fuels.
While the carbon credits market exists, with many active sellers and buyers, measuring carbon emissions is complicated and costly, and purchasing carbon credits can be complex. According to the joint press release, blockchain based digital assets, or tokens, can enable innovative ways to buy and use carbon credits.
A recent report produced by the IBM Institute for Business Value (IBV), titled Moving to a token-driven economy: Enabling the digitization of real-world assets, notes that assets like gold, real estate, fine art or carbon credits are difficult to transfer, often necessitating an abundance of paperwork and prolonged procedures for both buyers and sellers. By representing physical assets as digital tokens on a distributed digital ledger or blockchain, its possible to unlock the value of real-world assets and to exchange them in real time, states the report.
Relying on IBMs blockchain technology and expertise, Veridium plans to transform carbon credits into a new type of fungible digital asset that can be r...
Major cryptocurrency exchange Bitfinex has recently notified some of its users that they are required to submit their tax information so the company can then send it over to the British Virgin Islands (BVI) government, which may exchange the info with the tax authorities of its users country of residence. The exchanges message reads: The Continued
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On May 17 the Akari Global Foundation, an organization that aims to promote the increased adoption of Bitcoin Cash (BCH), launched a payment platform for BCH acceptance called Akari-Pay Advanced. The launch of Akari-Pay reveals a one-file BCH payment/donate page that doesnt require any coding knowledge to utilize the platform.
There have been lots of developments happening throughout the BCH community over the past 48 hours since the last upgrade. Now the Akari Global Foundation is helping push BCH adoption to the masses with its new BCH-based payment gateway. Akari says its mission is to help reduce the worlds economic oppression and increase freedom by leveraging the Bitcoin Cash netwo...
Fed governor Lael Brainard has said that cryptocurrencies do not pose a threat, and there is "no compelling need" for a Fed-issued digital currency.
The CFO of PayPal has stated that merchants using the service are not in favour of accepting cryptocurrency payments. John Rainey, the chief financial officer of the online payments company, said that the volatility of digital currencies makes them unsuitable for use as a currency at present.
Speaking in an exclusive interview for CNBCs Mad Money segment yesterday, John Rainey stated that merchants using PayPal were not fans of accepting payments for goods and services in cryptocurrency. The CFO of the online payments company blamed the ever-swinging prices of digital currencies such as Bitcoin and Ether for the lack of acceptance amongst sellers on the platform. Rainey told presenter Jim Cramer:
If youre a merchant and you have, lets say, a 10 percent margin on a product that you sell and you accept Bitcoin, for example, and the very next day it moves 15 percent, youre now underwater on that transaction.
PayPal started accepting Bitcoin payments back in 2014. The company bought Braintree five years ago who became PayPals go-to developer platform. Merchants on the platform then had the option to opt-in if they wanted to receive funds in cryptocurrency for their goods and services. Partnerships with BitPay, GoCoin, and Coinbase facilitated the option.
However, the PayPal CFO claimed that the option had not proven popular as a means of payment. He said that those that were accepting it quickly converted their funds to a more stable currency to protect against the volatility:
So what happens, or what was happening, is they were immediately moving that to a more stable currency.
Whilst Rainey admitted that there were consumers who supported cryptocurrency payments, he ultimately surmised that this didnt amount to much without the backing of the platforms merchants:
You could have something that appeals to consumers, but if merchants dont accept it, its of little value Right now, we dont see a lot of interest from our merchants. But if its something that stabilizes in the future and is a better currency, then well certainly support that.
We last reported on PayPal back in...
Cryptocurrency brokerage firm Genesis Global Trading has become the latest firm to receive a BitLicense from the states financial regulatory. The New York-based Genesis on Thursday announced that the states Department of Financial Services (NYDFS) had approved its application, making it one of a handful of firms to receive a BitLicense, which formally allows cryptocurrency Continued
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From chicken farms to semi-conductor factories, cryptocurrency miners do anything to obtain cheaper electricity rate
Wanchain, an infrastructure connecting different digital assets with the aim of building a super financial market, has announced on Twitter that it is partnering with cryptocurrency point-of-sale (PoS) solution provider Pundi X Labs.
The productive meeting between founders Jack and Zac took place at Consensus 2018, the fourth annual conference of Blockchain Week in New York City.
Blockchain Week New York City gathered a wide number of startups within the cryptocurrency ecosystem to display their most recent developments and products. Among those companies were Wanchain and Pundi X Labs, which had the chance to find value in a potential partnership between the two.
The new distributed financial infrastructure which cross-chains smart contracts built on Wanchain continually seeks to connect different blockchain networks together to exchange value. Pundi X leverages the Ethereum blockchain to ease cryptocurrency payments or transactions.
Wanchain offers a multi-asset wallet, WAN, to customers for token management purposes, including transfers in public and private transactions. The infrastructure allows users to exchange assets on-chain with minimal counterparty risk and build decentralized exchange applications like Ether Delta, as well as facilitating the launch of initial coin offerings (ICOs).
The partnership may allow Wanchain to extend its accessibility to the public through the point-of-sale (PoS) of Pundi X. The news could be bullish for Wanchain, from a fundamental perspective, as the platform enlarges its network and customer base.
We are delighted to announce a partnership with @wanchain_org. @zibin had a productive meeting with Jack at #Consensus2018 this morning and showed him the new XPOS device. We look forward to announcing some details in the near future. pic.twitter.com/9C3eQLCaYc
Pundi X (Official account. Pls do not send ETH) (@PundiXLabs) May 16, 2018
This year it appears crypto is ready for its close up. Hollywood has come knocking in significant ways. Alec Baldwin (The Boss Baby, SNL, Mission Impossible), Antonio Banderas (Shrek, Zorro, Spy Kids), and Oscar-winning filmmaker Bobby Moresco (Crash, Million Dollar Baby) are presently filming Lamborghini. Its a biographical movie about Ferruccio Lamborghini, namesake behind the ecosystems favorite icon for crypto wealth. Fittingly, its also co-produced by Tatatu, a social entertainment company run on blockchain tech.
Hollywood heavy producer Andrea Iervolino explained, Social networks and entertainment platforms are making huge profits by gathering data from their users and selling it to other corporations without rewarding their users. There is a need for a platform that provides higher levels of transparency to their users, brands, and rights holders about the revenues generated and monetization of users. Audiences need free, legal and quality content with a simple user experience....
JPMorgan, the largest bank in the US with a $384 billion market valuation, has tasked Fintech and In-Residence programme head Oliver Harris to create various strategies the corporation could utilize to help its clients to invest in the cryptocurrency market. Motivation In 2017, JPMorgan CEO Jamie Dimon, who is often described as one of the Continued
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Genesis Global Trading receives the fifth-ever BitLicense, can operate in New York with Bitcoin, Ethereum, and a variety of altcoins
blockchain-based data platform based in Zug, Switzerland, launched
their real-time data Marketplace on May 16, 2018, during a
presentation at Consensus
2018. This was followed by an announcement of partnerships with
Nokia and OSIsoft.
The Streamr Marketplace connects data producers and consumers through a web-based application where data consumers can pay for access to real-time data streams listed by data providers. For example, a recent partnership between Streamr and Hewlett Packard Enterprise will allow vehicle data to be monetized in real-time. Vehicles generate data that is usable to third parties it might be used to gauge traffic through a geographic region, or to fine-tune traffic signals, or to schedule road work, etc. Rather than just giving that data away for free, vehicle owners can make use of the Streamr Marketplace to monetize and trade that data.
Streamrs agreement with Nokia a multinational telecommunications, information technology and consumer electronics provider will focus on developing the next generation of mobile base stations and allow Nokia customers to monetize their data through a range of IoT sensors and devices. The integration of Nokias Kuha transportable base stations into the Streamr Marketplace will allow users of the base stations to buy and sell data worldwide.
Martti Ylikoski, radio system evolution lead at Nokia, commented, Providing smart mobile coverage for up to four billion individuals across the world is a major challenge and current solutions dont go far enough.
Ylikoski noted that there has been a growing movement of empowered mobile customers who want to control and monetize their own data. Our partnership with Streamr reflects our firm belief in the platform, as well as our commitment to...
Yesterday, May 16, 2018, well-known venture capitalists Fred
Wilson and Balaji Srinivasan, the latter of which is now the CTO at
Coinbase, had a chat with Wall Street Journal reporter Paul
Vigna on the mainstage of Consensus 2018. During the discussion,
Srinivasan and Wilson were asked for their opinions on recent
comments made by Warren Buffett, Nouriel Roubini and other notable
bitcoin skeptics who have been quoted in the media
In their responses, the pair of tech investors (but mostly Wilson) pointed out the differences between Buffetts approach to investing and how the crypto asset market works. It is these fundamental differences between crypto assets and traditional stocks that may explain why the Oracle of Omaha has a general distaste for bitcoin.
For those who missed it, Buffett recently referred to bitcoin as rat poison squared at Berkshire Hathaways 2018 annual shareholder meeting.
One of the key counterarguments to Buffetts assessment of bitcoin made during the chat at Consensus 2018 was articulated by Wilson right after the topic was first brought up by Vigna.
Calling it rat poison, to me, suggests that they havent taken the time to really understand whats going on here, said Wilson. If all you think of it as is some new asset class and some new thing that you can trade, then I think youll come to that conclusion. But if you really understand that this is a fundamental innovation in foundational technology for the internet that provides a bunch of new functionality that didnt exist before this, then what I see it as is like the LAMP stack or something. This is an entirely new stack that were going to get to build new applications on top of, and the tokens are just the fuel that lights up that stack.
The LAMP stack referenced by Wilson is an open-source platform and set of tools (Linux, Apache, MySQL and Python or some other scripting language) that has been used to build dynamic websites and applications during the Web 2.0 phase of the internet. Some view blockchain technology, of which bitcoin was the first implementation, as a key component of a new, decentralized internet, which has been dubbed Web 3.0.
Wilson would later add that his work in venture capital is quite different from Warren Buffetts approach to the investment world. While Buffett searches for cash-producing assets that will grow in value over time, Wilson is making a large number of moonshot bets in anticipation that a handful of them will lead to hu...
BlockShow Europe 2018 has launched a poll for the leading women and companies in the EU blockchain space, using a blockchain-based voting app Polys
The bitcoin price entered another bearish trend this week after failing to pierce $10,000 earlier in the month. The flagship cryptocurrency now sits more than 58 percent below the all-time high it set in December, but one former JPMorgan trader remains confident that it will trade above $20,000 before the year is out. Danny Masters, Continued
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Genesis Global Trading has got a BitLicense from the state Department of Financial Services, which makes it only the 5th firm in 3 years to get the controversial license. The cryptocurrency exchange, based on new york, and DFS declared the news in different news release Thursday. From the regulators release, NY financial services superintendent Maria Vullo said, NY carries on to lead the country in controlling the expanding fintech market. However, the BitLicense has come in for intense critique from cryptocurrency entrepreneurs. Talking in CoinDesks Consensus 2018 conference Tuesday, ShapeShift Chief executive officer Erik Voorhees known as the regulation a complete failure which should be removed.
He explained it was pathetic that just a handful of firms had obtained BitLicenses after three years. That is the rate of innovation from New York. Several exchanges have stopped working in the state, such as ShapeShift and Kraken. Despite lacking a BitLicense prior to this week, Genesis Trading was working in NY under a safe harbor provision. The exchange panders to high net worth and institutional investors and provides round the clock trading from bitcoin, bitcoin money, ether, classic ether, XRP, litecoin and zcash. Separately, the DFS also approved Paxos Trust Company, previously known as itBit, to run a permissioned, blockchain based place trade platform reimbursement agency for precious metals, known as Bankchain.
Paxos retains a limited purpose trust company charter from DFS, just like Gemini Trust Company, a cryptocurrency exchange. NY became the first nation to craft a regulatory arrangement particularly for cryptocurrencies in the year 2014, and finalized the BitLicense at August 2015. The other four companies to get the license is Circle, in 2015, XRP II, a Ripple subsidiary that sells XRP, the next calendar year, and Coinbase and bitFlyer at 2017. The leader in blockchain news, CoinDesk is a media outlet that strives for the greatest journalistic standards and complies with a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
WSJ research finds that 271 of 1450 ICOs contain red flags from fake numbers to copy-and-pasted white papers from other ICOs
The license is has come in for intense criticism, in part because so few firms have been granted one.
Ukraine is drafting legislation to legalize cryptocurrencies and asked members of the crypto community to participate. And boy, did they. Alexei Mushak, a member of the Ukrainian parliament, posted a notice on his Facebook page May 15. He said the Ukrainian government is preparing to legalize virtual currencies and asked for input from cryptocurrency experts. Below Continued
The post Ukraine Drafts Law to Legalize Cryptocurrencies, Fuels Debate In Crypto Community appeared first on CCN
Canaan Creative Co. Ltd, the Chinese company behind the Avalon lineup of hardware equipment which produces ASIC mining chips and rigs, has officially submitted a listing application to Asias third-largest equities market the Hong Kong stock exchange.
Canaan posted a preliminary prospectus on Tuesday revealing it brought in a revenue of 1.3 billion yuan in 2017 and that its net income jumped over 600% to 361 million yuan. Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd. are named as joint sponsors of the proposed offering in the preliminary prospectus. The filing did not specify the amount Canaan will try to raise in the public offering but it i...
J.P. Morgan Chase & Co presented a prototype of its blockchain platform for capital markets at NYs Consensus conference yesterday
The Texas State Securities Board has shut down an initial coin offering (ICO) that it claims used fake endorsements from Jennifer Aniston and other celebrities to fraudulently promote its token sale. Filed on Wednesday, the emergency cease-and-desist order alleges that in addition to illegally peddling unregistered securities Wind Wide Coin used photographs of
The post Texas Shuts Down ICO that Used Fake Jennifer Aniston Endorsement appeared first on CCN
The Stuttgart Brse, Germanys second largest stock exchange, has announced it is launching a zero-fee smartphone crypto trading app, dubbed Bison
Egretia partnered with Egret Technologies to create the worlds first HTML5 blockchain platform with functionality for developers, users, content publishers, and advertisers. The blockchain is needed to solve ongoing issues within the HTML5 industry. To make the new platform work, Egretia leverages Egret software with access to two hundred thousand developers and one billion users.
HTML5 technology has been in development for several years and is already globally recognized, covering mobile games, advertising, video and other industries. One of the key players in the HTML5 gaming industry is Egret Technologies. Since releasing its first game in 2014, the company managed to create a full workflow for development consisting of fourteen products including the engine itself, an IDE visual editor, animation and cross-platform packaging tools.
Egret currently has over two hundred thousand active developers worldwide and its services are installed on more than one billion mobile devices around the world, according to the company. To solve major technical issues of the HTML5 industry, Egret partnered with the Egretia project, which aims to make blockchain a solution for these issues.
The Egretia ecosystem contains several core elements.
Egretia public chain
First of all, Egretia is aiming to integrate a blockchain interface layer into Egrets development suite, which allows developers and designers to edit and debug code, visually adjust UI interface, create cross-platform animations and interactive media content, and publish HTML5 content as iOS or Android apps via the packaging tool.
Egretias own public chain is based on the Delegated Proof of Stake (DPoS) consensus mechanism, aiming at optimizing HTML5 game performance. Using a DPoS mechanism, Egretias blockchain has already shown high processing power of more than 2,000 transactions per second. Moreover, Egretia allows for the dynamic adjustment of parameters like block size, output speed, and handling fees through a consensus voting method.
To allow easy access into the blockchain for HTML5 developers, Egretia will introduce a software development kit (SDK). With the SDK, developers may create HTML5 games and applications that provide blockchain capabilities such as digital wallets and smart contracts.
Egretia leverages its own u...
Civic has launched a decentralized identity verification system, and crypto social network platform Hilo is the first to use it.
A recently released peer-reviewed article by blockchain evangelist and financial economist Alex de Vries deployed a novel methodology to determine Bitcoins energy usage a few years from now, and the estimated results are certainly astonishing. Pay with Bitcoin or Power a Home? Published on May 16 on Joule, de Vries made use of complex economic
The post Bitcoin Mining Could Use 0.5% of Worlds Electricity Energy in 2018 appeared first on CCN
Bitfinex, an exchange famed for its opaque banking arrangements, has begun ordering its users to submit their tax details. The platform, which is registered in the British Virgin Islands, a known tax haven, will retain this information and may share it with tax authorities in their customers jurisdiction. The news has caused quite a stir.
In an email issued to a portion of its users, Bitfinex has outlined a new KYC policy. Not content with knowing the identity and location of its customers, it now wants their tax details. It has been stated that this is to accord with local laws in the British Virgin Islands (BVI) where the exchange is registered. The platforms tax data gathering wont stop there however: it notes that the BVI government may then exchange that information with the tax authorities of the customers country of residence.
Up until a few months ago, Bitfinex didnt even enforce basic KYC for its users. Its now gone from being one of the laxest major exchanges to...
A scientific journal confirmed the fears of many bitcoin critics.
All the techno-utopians who claim that bitcoin and other cryptocurrencies are the decentralized financial future seem to neglect the physical toll this technology has on the very world we live in. Its not necessarily a new finding that bitcoin mining uses a ton of energy, but yesterday we saw the first peer-reviewed study that confirmed just that. Whats more, the environmental toll is about to get worse.
Jack Ma, founder of Chinese e-commerce giant Alibaba, says he strongly believes in the value of blockchain, but thinks Bitcoin is a bubble
A company aims to use AI and blockchain to help people receive expert skincare advice from dermatologists instead of biased advice from ads and websites #SPONSORED
The scientific research of economist Alex de Vries on the Bitcoin networks energy consumption shows that it will use .5 percent of energy globally by end of 2018
Native speakers of Russian were likely involved in a sophisticated hack that redirected traffic to Amazons Route 53 DNS service last month in order to steal funds from users of MyEtherWallet.
Native speakers of Russian were likely involved in a sophisticated hack that redirected traffic to Amazons Route 53 DNS service last month in order to steal funds from users of MyEtherWallet, a tool for managing the cryptocurrency ethereum, according to a report from security firm RiskIQ.
Blockchain identity verification platform Civic has emerged from Consensus 2018 with clear progress and updates for its identity attestation technology.
The project imagines a network of validators and service providers who work together to verify individual identities. A new platform user would submit relevant identity information to a validation smart contract, which the validator would then review for approval. If approved, the validator would store references to this information on the blockchain, attesting to its validity. Anytime the corresponding user needs to submit identity information to another service provider (a bank, government agency, etc.), that service provider could request the validator to cross-check the users information with the blockchains attestations to verify their identity.
In practice, such an ecosystem could streamline identity verification procedures and keep its users and participating service providers from having to go through lengthy ID checks whenever the occasion arises.
Coming out of Consensus 2018, Civic is showing that its taking steps to turn theory into a reality. These steps include the first iteration of its ID codes protocol alongside its revamped token economy white paper, and the kicker the worlds first crypto beer vending machine.
The idea of giving out free beer may seem kitschy at first glance, but its novelty is matched by what it means for Civics utility. Using the Civic app, anyone verified on the platform can scan a QR code to prove that theyre of legal drinking age. In a partnership with Anheuser-Busch, Civic unveiled the vending machine at Consensus 2018, offering anyone who used it a free brew.
To Vinny Lingham, Civics co-founder and CEO, the campaign isnt some flashy promotion or an excuse to crack open a cold one. Its a way to prove that, without relinquishing any other ID information, Civic can utilize a zero-knowledge age check: a use case that could be applied to more than just alcohol purchases.
Its a proof of concept, Lingham told Bitcoin Magazine in an interview. It could be beers, weed, pharmaceuticals lots of things that are age restricted or are limited in access for certain people.
This proof of concept is just one of many uses for Civics ID protocol, the instruments responsible for such a practical application of the technology.
Their newly released ID codes are another proven manifestation of Civics protocol, and according to the team, its the first-ever blockchain-based verification mechanism.
While surfing the web, anyone will be able to use these codes to verify businesses, social media profiles, team members, advisors and any individual with attested infor...
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