Month: July 2018

Audit Firm to Build a Bug Prediction Market for Smart Contracts

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Ethereum-based startup Solidified is developing a decentralized, smart contract audit platform, aiming to make the process easier to arrange and to provide a transparent and accountable metric of smart contract security. The company recently conducted a Seed round with Innogy New Ventures to develop a new initiative in security — the Bug Prediction Market. “Solidified is an established, full-service audit platform, having helped secure large Ethereum projects such as Gnosis, Polymath, Bankera and Melonport among 50+ others,” said Eduard Kotysh, CEO and founder of the Solidified platform. According to the…

Binance Acquires Anonymous Mobile Wallet for Ethereum Tokens

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Cryptocurrency exchange Binance has acquired mobile ethereum wallet Trust Wallet, the startups announced Tuesday. The acquisition will enable Binance to add a mobile wallet to its services, while Trust Wallet will be able to tap into advantages offered by the exchange, including both its existing user base and a proposed decentralized exchange, according to a press release. Although Trust Wallet has been acquired, its team will continue operating autonomously, the founders said. Compatible with ethereum-based tokens, the platform is open-source, decentralized and anonymous, and is capable of storing more than 20,000…

Will Blockchain Protect the World Economy from Financial Crises?

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In the blockchain movement’s ideology, the 2008 financial crisis holds a special spot. A critical juncture in the history of global capitalism, it readily provides a bedrock narrative that justifies the very purpose of a decentralized digital currency. This is what happens when we put too much trust in centralized custodians of wealth; this is what the breakdown of centralized trust — taken to the extreme — looks like. The year of 2008 is thus the legendary beginning of cryptocurrency — both the moment of the incumbent institutions’ great meltdown…

BTC/USD Shows No Bullish Action

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No longer after we published our analysis on July 30th, 2018, the Bitcoin price against the USD started to slip heavily owing to overlong sideways action. In the past 24 hours. The BTC/USD pair has dropped over 5%, summing-up the overall 9% drop since the July’s high at 8512-fiat. Nevertheless, our intrarange strategy played out well while the BTC/USD dropped. Our short on a bounce from 8324-fiat towards the interim support at 7814-fiat made a decent profit. As we slip further below the support zone, we have already deployed new…

Former Pershing Exec Jeff Horowitz Joins Coinbase as Chief Compliance Officer

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Major U.S. cryptocurrency wallet and exchange Coinbase announced in a July 31 blog post that ex-Pershing exec Jeff Horowitz will join the company as its Chief Compliance Officer. Horowitz previously worked as the managing director and global head of compliance at Pershing LLC — a BNY Mellon Company — as well as leading a variety of compliance and anti-money laundering (AML) programs at Citigroup, Goldman Sachs, and Salomon Brothers, and serving as a banking regulator with the Federal Deposit Insurance Corporation (FDIC). According to Coinbase COO and President Asiff Hirji,…

New Ripple-Based Decentralized Exchange Launches in San Francisco

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A new Ripple (XRP)-based decentralized crypto marketplace, DCEX, has now opened registration for retail and institutional accounts, according to a press release published July 30. The new San Francisco-based platform runs on technology developed by blockchain firm AlphaPoint, and will initially offer 15 crypto-crypto trading pairs, all against Ripple as a base currency. These include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS (EOS), IOTA (MIOTA), and ZCash (ZEC), among others, with further altcoins to be listed in the future. DCEX will also reportedly make all of the…

Top Chinese Bank Issues First Farmland Mortgage Loan on Blockchain

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In a significant breakthrough to deepen the reform of mortgage loans, the Agricultural Bank of China (ABC) revealed that it has issued a farmland loan worth $300,000 on the blockchain in a trial. The bank, as reported by a local news source, used a segment of agriculture land as collateral to issue the mortgage loan in one of its Guizhou province branches. It also distributed the details of the loan across other node partners, including various commercial banks, Guizhou’s Land and Resources Bureau, and – surprisingly – the local branch of the People’s…

Bitcoin Dips Below $8,000 Amid Market-Wide Losses

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July 31: Crypto assets are posting market-wide losses on the day, with Bitcoin (BTC) dipping back below the $8,000 psychological price point and virtually all coins in the red, according to data from Coin360. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,857 to press time, down around 3 percent on the day. Since its July 25 peak at $8,431, the leading cryptocurrency has been testing support at $8,200 over the past few days, dipping down below $8,000 today for the third time this week. Bitcoin’s 7-day price chart.…

Fintech Firm Billon Partners With FIS to Explore Blockchain Tech Solutions

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UK fintech firm Billon has signed a letter of intent (LOI) with international financial services tech provider Fidelity National Information Services Inc. (FIS) to integrate blockchain tech solutions, according to a July 31 press release. Billon refers to itself as a “civilized blockchain” company, meaning that it implements blockchain to ultimately process fiat currencies. FIS, which specializes in banking software and payment processing, will work with Billon to assess the use of Billon’s “distributed architecture for document and identity management” for the FIS international fintech suite and “explore joint product…

Thomson Reuters Partners With CryptoCompare to Track 50 Crypto Assets

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Canadian mass media and information company Thomson Reuters has announced a crypto asset data partnership with cryptocurrency tracking resource CryptoCompare, according to a July 31 press release. As the press release explains, CryptoCompare will now provide order book and trade data on 50 cryptocurrencies for Reuters’ financial desktop platform Eikon, which is aimed at institutional investors. Sam Chadwick, the director of strategy in innovation and blockchain at Reuters, noted in the press release that the “decline in the price of many of the leading cryptocurrencies during 2018” has not lessened…