Day: August 30, 2018

Australian Gov’t Partners With IBM and Legal Experts to Build Smart Contracts Platform

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IBM, CSIRO’s Data61 and law firm Herbert Smith Freehills have partnered on a new Australian consortium to build a cross-industry blockchain-based smart contracts platform for enterprises, according to a press release published August 29. Data61 is a digital innovation center that forms part of the Commonwealth Scientific and Industrial Research Organisation (CSIRO) – an Australian government corporate entity that undertakes scientific research to advance diverse local industries. The initiative has been dubbed The Australian National Blockchain (ANB), and will pool the tech, scientific and legal expertise of the three partners…

Coinbase Uses Electromagnetic Signal Blocking Tents to Secure Crypto

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It’s common knowledge throughout the cryptocurrency community the safest and most secure way for individual investors to store digital assets is via cold storage. This is either through a hardware wallet like the Ledger S Nano, an air-gapped Linux-based computer, or a paper wallet. However, according to a new exposé from Wired, leading cryptocurrency exchange, San Francisco-based Coinbase, uses similar cold storage methods, albeit with a few extra advanced security techniques to ensure assets stay safe from cybercriminals. Coinbase Private Key Generation Process is in Tents Wired journalist Tim Simonite…

Crypto Mining Firm Bitfarms Reports Profit Despite Decline in Markets

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Crypto Mining Firm Bitfarms Reports Profit Despite Decline in Markets August 30, 2018 by Ian Edwards Canadian-Israeli crypto mining company Bitfarms Technologies today released its financial results for the first six months of 2018. The company reported a profit, but saw its margins retreat due to the this year’s steep fall in cryptocurrency prices. Also see: EOS Canada and Hydro-Québec Board Member Faces Calls to Recuse Himself Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Company Is Profitable, But Stock Price Still Falls by 5 Percent…

Shanghai Hotel Suffers Data Breach, Attackers Sell Information on Dark Web for Eight Bitcoin

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Huazhu Hotels Group, a hotel management company in China with more than 10 hotels brands and over 3,800 hotels, reported a data breach on Tuesday, August 28, 2018, after discovering that its clients’ personal information was sold on the dark web forum. According to the South China Morning Post, the Shanghai police are currently investigating the matter. They believe that this data breach could be one of the largest data leaks, that currently affect approximately 130 million clients from the Huazhu Hotel Group. Shanghai Police Investigate the Huazhu Data Breach…

India to police peer-to-peer crypto trading as it eyes a state-backed digital currency

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The Reserve Bank of India has indicated that it is of great importance to police peer-to-peer crypto trading as its ban prohibiting regulating financial firms to do business with crypto affiliated firms has led crypto traders and exchanges to seek alternative methods. These alternative methods have led to peer-to-peer crypto trading “which may also involve increased usage of cash” and there is also the “possibility of migration of crypto exchange houses to dark pools/cash and to offshore locations, thus raising concerns on Anti Money Laundering,” reported Economic Times. Apart from…

BTCUSD Drops towards Strong Support

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Bitcoin on Friday lost almost 3% of its value against the USD in a bearish correction attempt post the latest rally. The BTC/USD today continued to its downward trend from the previous high around 7132-fiat. The Asian session kept the price under strict watch, so the pair remained stable. But traders started losing patience at the beginning of European session, during which price formed intraday lows towards 6832-fiat –  below the psychological support near 6900-fiat. As we now enter the US trading session, BTC/USD is already attempting a bounce back.…

Report: Miner Spends Only $1567 per Bitcoin

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Electricity is the number one cost for cryptocurrency mining, giving an edge to whoever can secure it for the lowest price. Bitfarms, which has access to cheap renewable energy in Canada, reports that mining a single BTC cost the company just $1567 in the first half of the year. Also Read: The Daily: Huobi Nears Backdoor Listing, Musk Still Loves Scambots $1567 Per BTC Tel Aviv Stock Exchange listed firm Bitfarms Technologies Ltd. (TASE: BLLCF), today reported its consolidated results for the half-year period which ended June 30, 2018. The…

OECD Announces ‘First Major International Conference’ Dedicated to Blockchain in Public Sphere

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The Organisation for Economic Co-operation and Development (OECD) has officially announced a Blockchain Policy Forum in a release on the OECD website August 28. The OECD states that the event will be held in Paris September 4-5 and will mark the first major international event of its kind, dedicated to blockchain technology. Organizers plan to focus on the use of blockchain tech in government activities and public initiatives as well as regulatory aspects. The Blockchain Policy Forum also plans to discussing the technology’s potential global economic impact, privacy and cybersecurity,…

Venezuelan Banks Must Accept Petro

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Two days ago, Venezuela’s President — Nicolás Maduro, ordered the nations banks to adopt the Petro digital currency, so now Venezuelan banks must accept Petro. In a bid to reform the nation and alleviate the current Venezuelan economic crisis, Maduro is trying to get the Petro coin recognized as Venezuela’s second currency and now banks within the nation must accept the coin. The hope is that by fixing the nation’s fiat currency to the newly created Petro, financial stability will be possible. Venezuelan Banks Must Accept Petro Venezuela’s economic situation is…

Payment Platform Bitpay Adds Bitcoin Cash Settlement Services

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On Wednesday, August 29 the Atlanta-based firm Bitpay announced that its merchants can now receive settlement in bitcoin cash (BCH). Not only can Bitpay merchants accept the decentralized digital currency and keep all the bitcoin cash, but they can also split their funds into a fraction of fiat and BCH as well. Also Read: Nchain Publishes Bitcoin SV Alpha Release Bitpay Adds Bitcoin Cash Settlement Services The cryptocurrency payment processor Bitpay has made a lot of changes since its inception in 2011, and just recently the firm added bitcoin cash support…