CryptoDaily Newsletter by BCFocus >> 05.05.2018 >> Vol.14
MoneyRebel introduces a centralized marketplace for trusted financial advisors
With inflation eroding the value of savings, it has become a compulsion to learn the ropes of managing money. Unfortunately, a large chunk of people across the globe lack financial literacy to navigate through erratic terrains of the financial world. Transaction fees nibble away a significant amount everytime money changes hands. Maximising returns on investment calls for financial prudence and thanks to blockchain and digital assets new avenues of investment have opened up. Read more
WISeKey expands presence in middle east by partnering with Saudi Advanced Technologies
The Cybersecurity and internet of things (IoT) company, WISeKey and Saudi Advanced Technologies (SAT), has acknowledged a MoU (Memorandum of Understanding), that plans to develop the cybersecurity market and IoT market in Saudi Arabia. Read more
Gartner survey reveals majority of businesses have no plans on blockchain
Gartner, Inc. is the world’s leading research and advisory company and a member of the S&P 500. The firm provides business leaders with excellent insights, guidance, and tools necessary to build organizations of future. Gartner is trusted as an objective resource and critical partner by more than 12,000 organizations in more than 100 countries—across all major domains. Read more
Tangem, the first “Physical Bitcoin Note”, now available in Singapore
With the vast acceptance of bitcoin, many mediums like debit cards and ATMs have taken on the cryptocurrency. Now Tangem, a new smart banknote platform, launches pilot sales of physical bitcoin notes at the Megafash Suntec City store in Singapore. Read more
Cardano inks deal to help Ethiopia put agriculture on the blockchain
African nations seem to hop on to blockchain powered solutions faster than their counterparts in other continents. Ethiopia has evinced interest in emerging technologies to maximize gains in the farming sector. The country has signed a memorandum of understanding with new cryptocurrency player Cardano to leverage blockchain technology for the agriculture industry. Read more
US House Science To Review Blockchain For Supply Chain Management
The Subcommittee on Research and Technology has legislative jurisdiction and general oversight and investigative authority on all matters relating to science policy and science education. The Subcommittee on Oversight has general and special investigative authority on all matters within the jurisdiction of the Committee on Science, Space, and Technology. Read more
Whiteblock reveals with World’s First Scalable Testing Service for Blockchain
Whiteblock announced the world’s first scalable test system for blockchain and enterprise DLT developers, Blockchain Testing-as-a-Service (BTaaS) on Thursday.
With thousands of users and over 12 years of experience in network testing and evaluation, Whiteblock Inc. brings with it substantial management experience in building reliable products. As said by Neal Roche, CEO of Whiteblock, “Testing at scale is a bottleneck for many blockchain development teams who depend on test nets run by a small number of volunteers or a homogenous network. Having a partner who can leverage and provide large-scale test networks allows development teams at companies of all sizes to quickly emulate real-world conditions and run deterministic repeatable tests prior to going live.” Read more
Netherlands to leverage blockchain for waste management throughout EU
The Human Environment and Transport Inspectorate monitors and encourages compliance with both national and European legislation and regulations in favor of a safe and sustainable human environment, safe and sustainable transport and maintaining confidence in housing associations.The Human Environment and Transport Inspectorate (ILT) of the Dutch Ministry for Infrastructure has appointed Dutch software companies LegalThings One and Safety Changer to reduce the supervision costs related to European waste transportation. Read more
Goldman Sachs to set up Bitcoin Trading Desk
While most banks have stayed wary of due to the scandal surrounding Bitcoin, Goldman Sachs has decided to take a chance and move ahead with what looks like plans to set up the first Bitcoin trading operation at a Wall Street bank.
From what we know, Goldman is about to begin using its own money to trade with clients in a variety of contracts linked to the price of Bitcoin. Though the bank may not initially be buying and selling the cryptocurrency, a team at the bank is looking at going in that direction if it can get regulatory approval and calculate the risks it entails. Read more
Italian Entrepreneurs raise upto 20 Million Euros for a cryptocurrency mining factory
Gabriele Angeli and Gabriele Stampa, two entrepreneurs from Italy are the owners of a Bitminer Factory. It is Florence-based factory and considered to be Italy’s largest currency-mining host. Their new niche has laid the foundation for an innovative business model. Read more
23-year-old Russian Cryptoblogger and investor found dead
A 23-year-old Russian Cryptocurrency video blogger and investor known online as Pavel Nyashin was found dead in his Petersburg apartment, according to sources.
According to the local media sources, Nyashin was a self-made millionaire from investing in crypto-trading. He had boasted about his wealth online and at numerous other meetings of famous bloggers that he attended. He even shared his success story online while advising on How to become rich from crypto-trading. ForkLog, Russian-language cryptocurrency news outlet reported Nyashin is the founder of the YouTube channel on crypto trading with almost 20,000 subscribers. Read more
Demand for Bitcoin Mining Chips boosts Samsung Profits
In just the first quarter of the year, the company earned 60.56 trillion won, with an operating profit of 15.64 trillion won, a 58% increase as compared to the 9.9 trillion won achieved during the same period last year. Read more
Singapore Exchange Invests in Distributed Ledger Alternative For FX Trading
Singapore Exchange is Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets to the highest regulatory standards. As Asia’s most international, multi-asset exchange, SGX provides the listing, trading, clearing, settlement, depository and data services, with about 40% of listed companies and 75% of registered bonds originating outside of Singapore.Read more
JP Morgan Goes Ahead With Patent For Blockchain-Powered Payments Between Banks
JP Morgan Chase & Co. has laid bare details of a peer-to-peer payments network in a patent application filed with the U.S. Patent and Trademark Office (USPTO). The network would leverage distributed ledger technology (DLT), such as blockchain, for intra- and inter-bank settlements. Read more
Venezuela announces Crypto “Youth” Bank
Nicolás Maduro, The president of Venezuela, revealed plans of introducing a digital currency bank for youth and students.
During a youth ceremony in the state of Aragua on Thursday, president Maduro said that close to $1.2 billion-worth of the cryptocurrency would be invested into the new venture, and that the bank would support “productive initiatives.” Read more
PwC collaborates with VeChain to leverage blockchain technology for services
PwC Hong Kong has announced a collaboration with VeChain to provide trust-based services on the VeChain platform. It will necessitate the use of VeChain Tokens to access and perform transactions on the platform.VeChain is a leading global enterprise level public blockchain platform. It aspires to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model as well as advanced IoT integration, and pioneers in real-world applications. Read more
Ethiopia Utilizes Blockchain To Track Coffee Exports
Ethiopia has collaborated with IOHK to develop applications based on blockchain for coffee shipments and other areas of agriculture.Founded by Charles Hoskinson and Jeremy Wood in 2015, IOHK is a technology company dedicated to the usage of peer-to-peer technology to provide financial services to people who have been financially disadvantaged. Read more
Coinbase prepares for a massive increase in trading
In response to the New York Attorney General Eric Schneiderman’s ongoing inquiry into exchanges, Coinbase has revealed some interesting information about what it has been up to.
According to a public letter by Coinbase, “Our professionals have worked hard to achieve greater efficiencies in database management, improved caching to reduce load on our databases, an overhaul of our APIs, and substantial re-architecting of our code base. These efforts and others have resulted in a 1000% increase in our surge, transaction capacity relative to Q3 of 2017. We expect to again double this capacity in coming months, all while maintaining the highest standard of security expected by our customers. Although even the most sophisticated financial institutions experience platform downtime—most recently evidenced in reports of widespread website outages among national brokerage firms this February—we strive to provide near continuous support for our users. We are proud to have delivered 99.97% uptime to users of the platform in the period January 1 to present, and 99.99% uptime in the month of April.” Read more
Microsoft exhibits prospect Blockchain solutions for industries in Dubai’s Future Blockchain Summit
The event was attended by notable speakers and experts from around the world. The opening speech was addressed by Her Excellency Dr Aisha Bint Butti Bin Bishr, Director General, Smart Dubai Office. Read more
Nasdaq states “blockchain could be incredibly useful” in Healthcare Sector
Nasdaq recently stated, Blockchain system of recording data could prove to be highly beneficial in the healthcare sector. It can record and archive medical records whenever required.
It can record and archive medical records whenever required. Medical records are diverse and include different sets of information. It has Clinical files, invoices, research and diagnostic test results. To streamline the process and make it easier for the medical employees Blockchain can be used. Read more
MIT lecturer and Obama’s toughest fighter says, more than 1,000 ICOs are not following the law
Gary Gensler Former Chairman of Commodity Futures Trading Commission and now a lecturer at MIT and senior advisor to MIT’s Digital Currency Initiative said that more than 100 cryptocurrency exchanges and over 1,000 initial coin offerings are operating outside US laws. These laws are meant to save investors from frauds, he added. He shared this at the MIT Technology Review’s Business of Blockchain conference. Read more
Rolls Royce, Airbus Weigh Blockchain For Tracking Parts
Everybody is embracing blockchain technology in every part of life. Now the aerospace suppliers are exploring the opportunities of the distributed ledger technology (DLT). They are adopting this technology for supply chain management tasks such as tracking parts. Giant companies like US flight control systems supplier Moog, engine maker Rolls-Royce, travel technology company Sabre, European plane manufacturer Airbus, and Russian air transport company S7 Group. Read more
Illegal cryptocurrency mining case busted in Dehradun, India
Recently, Delhi Police Cyber Cell raided an illegitimate cryptocurrency operation in Dehradun, Uttarakhand. Sources states, Ethereum tokens were being minted by two individuals and sold in the global cryptocurrency market.
Kamal Singh, a Delhi University graduate and Vijay Kumar, an engineer were involved in the cryptocurrency case. The police team busted into a 4000 sq ft complex and found the huge infrastructure involved in mining. It involved highly efficient processors, 500 graphic cards and servers. They lured people in a false racket involving digital currency. The case involves an enormous amount of Rs. 100 crore. The people who lost their money were involved in a Ponzi scheme through a website bits2btc.com. The accused were running this portal. Read more
Malicious Chrome extension “FacexWorm”, potentially dangerous for Cryptocurrency investors
“FacexWorm”, a dangerous Chrome extension has been detected by a company dubbed “TrendMicro”. On April 8, they noticed some illegal activity that confirmed about the FacexWorm in Germany, Tunisia, Japan, Taiwan, South Korea and Spain location. Read more
Has the rising ICO scrutiny made a victim out of Telegram’s token sale?
Tokens sold in ICO’s are disguised securities, warned the U.S. Securities and Exchange Commission and other regulators. They have already made the law strict for a few projects. Companies who are doing ICOs states that the tokens are made to be utilized in their network and don’t depict an investment vehicle or a support in the firms. Regulator states that as the prices go up, investors are expecting to sell their tokens. Read more
Online auctioneer house Paddle8 To Launch Art Authentication Service Based On Blockchain
Paddle8, American online art auctioneer and the Native, Swiss tech company are launching an art authentication service which is blockchain based. Bitcoin is used for the authentication service. Paddle8 will provide a digital certificate or P8Pass and encode the information on the Bitcoin blockchain, for each of the thousands of artworks sold online. Read more
A giveaway scam of worth $22,630 of cryptocurrency occurred on the Twitter account of Kevin Pham
The tweet stated,
“Did you hear about Bitfinex Giveaway? To celebrate partnership between Biftinex and EOSfinex, they give away a total amount of 1.000 BTC, 15.000 ETH and 10.000 LTC. Hurry up before it ends!” Read more
Power Ledger announces its first commercial deployment in the U.S.
Just a few months after announcing Power Ledger’s trial partnership in the US, they have published the first commercial deployment of its energy trading platform in the United States. The company is based in Illinois. Read more
Iranian President Hassan Rouhani condemns ban of Telegram
The reason for Telegram ban was stated by secretary of Iran’s High Council for Cyberscape, Hassan Firouzabadi. He had mentioned earlier, “Telegram has officially announced that it will be used as an economic platform and Telegram will undermine the national currency of Iran. We cannot allow [Telegram’s virtual] currency enters the country.” Read more
Will cryptocurrency survive RBI’s ban? India’s cryptocurrency investors bet
It’s been a month since RBI banned cryptocurrency trading through banks in India. Since then trading amount has increased significantly along with a steady increase in prices. Read more
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