Day: August 22, 2018

Fintech Startup Revolut Launches Cryptocurrency Supported Debit Card

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The widespread use of a new financial instrument in day-to-day transactions have long been hailed as the holy grail for any early-stage asset class, crypto included. And with a recent announcement, crypto has tentatively moved one step closer to becoming a widely-accepted medium of exchange. Revolut & Crypto — A Match Made In Heaven On Tuesday, European fintech startup Revolut announced the arrival of Revolut Metal, which is evidently the firm’s next step in tackling the traditional finance system head-on.  For those who are unaware, Revolut, as its name alludes…

Bank of Thailand Announces ‘Milestone’ Digital Currency Project Using R3 Corda Platform

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The Bank of Thailand (BoT) has revealed plans to develop a wholesale Central Bank Digital Currency (CBDC) that will use R3’s Corda platform, in a press release published August 21. A CBDC is a digital currency issued by a central bank whose legal tender status depends on government regulation or law. The “wholesale” variant of CBDC limits its use to financial institutions and markets, as opposed to a “retail CBDC” for the general public. R3’s Corda, for its part, is a distributed ledger technology (DLT) platform that has been designed…

Bank of Thailand Announces ‘Milestone’ Digital Currency Project Using R3 Corda Platform

boss

The Bank of Thailand (BoT) has revealed plans to develop a wholesale Central Bank Digital Currency (CBDC) that will use R3’s Corda platform, in a press release published August 21. A CBDC is a digital currency issued by a central bank whose legal tender status depends on government regulation or law. The “wholesale” variant of CBDC limits its use to financial institutions and markets, as opposed to a “retail CBDC” for the general public. R3’s Corda, for its part, is a distributed ledger technology (DLT) platform that has been designed…

Venezuela ‘2nd Biggest Market’ as Interest in Crypto Spikes

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Venezuela has become the second biggest market for Dash (DASH), with almost one hundred merchants accepting the cryptocurrency each week, a spokesman told mainstream media Wednesday, August 22. Speaking to Business Insider, Ryan Taylor, CEO of Dash Core Group, which is the legal entity behind Dash’s core development team, said interest from both businesses and consumers was rising week by week. “We are seeing tens of thousands of wallet downloads from the country each month,” he told the publication. “Earlier this year, Venezuela became our number two market even ahead…

The Block show panel update

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The block show panels The block show is in its second day of meetups and panel discussions. The show kicked off with a robust debate about the usefulness and usability of cryptocurrencies in society. This was between Nouriel Robin, CEO of Roubini Macro associates and predictor of the global financial crisis in 2008, also well known as ‘Dr.Doom’ alongside Alex Mashinsky, founder of the Celsius Network. Roubini argued that there is no security in the cryptocurrency space, he also claims that there is “no democratization and decentralization.” Mashinsky said “the…

Bitcoin Price Gains $400 in 20 Minutes Following BitMex Shutdown

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Bitcoin gained some sudden momentum in the early hours of Wednesday (UTC), following the planned maintenance shutdown of BitMex – a BTC trading platform. The top-ranked cryptocurrency almost broke $7,000 before a pullback took the price back down to $6,600. Bitcoin Climbs as BitMex Shuts Down for Maintenance Moments after BTC derivatives trading service, BitMex went offline for scheduled maintenance, the price of Bitcoin skyrocketed. Within a 20-minute period, BTC climbed by more than $400, to almost cross the $7,000 price mark. After the rise, BTC was at a new…

UEFA Distributes Super Cup Tickets for Madrid Derby on a Blockchain

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The Union of European Football Associations (UEFA) has announced the successful trial of a blockchain ticketing system for last week’s Super Cup match between Real Madrid and Atlético Madrid. In a post on its website, European football’s governing body stated that a blockchain-based Android and iOs app was used to deliver tickets to mobile phones of fans attending the game which held in Tallinn, Estonia. Ticket Safety and Revenue Breakthrough For years, UEFA has battled with the problem of fake or duplicated tickets which can lead to lost revenue and fan…

Report: Less than Half of Digital currencies have useful purpose

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Less than half of cryptocurrencies today serve a useful purpose According to a news report by Invest in Blockchain, there are far too many cryptocurrencies with no fulling value. There are overv1000 cryptocurrencies today, yet only around 40 cryptocurrencies today have been found to have working products. A study was conducted by evaluating the Blockchain projects, like the coins release history, and comparing completed features against features which were expected to come online. A “working product”, in this case, is defining an active and available product to the public.   A…

New ‘Blockchain Law Society’ Will Examine Legal Frameworks in South Korea

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As South Korean lawmakers discuss regulations and guidelines for the cryptocurrency sector, a group of domestic blockchain experts will establish a new society to study the legal aspects concerning the decentralized technology. Dubbed the ‘Blockchain Law Society’, the new organization will officially launch this Friday, August 24, according to a report from local publication Yonhap. The collective will see a group of blockchain experts vying to propel studies on the legal aspects surrounding blockchain technology and promote it for various applications in a number of sectors. “Blockchain Law Society was…

Covesting Joins the Crypto Valley Association

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Covesting, a Europe-based digital currency exchange and professional trading platform offering a secure and technologically advanced infrastructure for investors and traders worldwide, has officially become a full-fledged member of the Crypto Valley Association in Switzerland. The Crypto Valley Association is an independent, government-supported association, established to take full advantage of Switzerland’s strengths to build the world’s leading blockchain and cryptographic technologies ecosystem, support and connect start-ups and established enterprises through policy recommendations, connect projects across industries, initiating and enabling research, and organizing conferences, hackathons, and other industry events. As a member of the Crypto…