Day: September 5, 2018

IBM Introduces ‘World Wire’ Payment System on Stellar Network

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IBM has launched a blockchain-based payment system called Blockchain World Wire. According to IBM, the new payment network uses digital currency on Stellar’s blockchain to “clear and settle cross-border payments” in near real time. The Stellar network is a distributed, blockchain-based ledger that facilitates cross-asset transfers of value. Like Ripple, Stellar can handle exchanges between fiat-based currencies and digital assets. Using this protocol, IBM wants to make it possible for financial institutions to move money quickly and reliably, while cutting off intermediaries and complexities associated with traditional international payment systems.…

Lightning Is Made at the #LightningHackday Series in Berlin

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As the birthplace of the Chaos Computer Club, the hometown of the mother of all hackerspaces, and what many of the world’s leading privacy activists consider to be a bit of a safe haven, Berlin may be the the strongest center in the world for hacker culture. Maybe that’s what makes the German capital a fertile breeding ground for the ongoing series of Lightning Hackdays (stylized as #LightningHackday). Introduced earlier this year, the series continues to grow, with the third event taking place last weekend. “The first edition in April…

Lightning Ramp and Casa Join Hands to Develop the Casa Lightning Node

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The team behind Lightning Ramp, a system that provides customers with faster bitcoin payments, has joined forces with Casa, a “be-your-own-bank” product that provides users with a multi-signature, multi-hardware device and multi-location wallet designed, to offer top-notch security against attacks and theft. Together, both ventures are working to create the Casa Lightning Node, a platform designed to solve many problems associated with Lightning Ramp. Debuting in February 2018, the Lightning Ramp was built to help exchanges connect with the Lightning Network, thereby giving millions of customers access to speedy Bitcoin…

A CryptoKittie was sold by a record $170K transaction

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CryptoKitties, an Ethereum blockchain-based game that allows users to breed, trade, and sell digital cats, may have scored the most expensive in-app purchase to date with the sale of a CryptoKitty named Dragon for approximately $170,000, or the equivalent of 600 ETH in cryptocurrency. “I bit Rebecca Black when I was younger, but those days are gone,” her description reads. “Believe it or not, spying on the neighbors is seriously exhilarating. You should try it some time. Let’s connect on ICQ.” She is described as having chestnut eyes and a…

Winklevoss Twins’ Company Files New Patent for Securely Storing Digital Assets

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Cameron and Tyler Winklevoss’ company has filed a new patent for “securely storing digital assets,” the U.S. Patent and Trademark Office (USPTO) revealed Tuesday, September 4. The Winklevoss IP, LLC patent, entitled “Systems and methods for storing digital math-based assets using a secure portal,” includes a new method that allows for the division of a digital asset account “into a plurality of private key segments,” providing more secure technology for cryptocurrencies. The patent states: “Private keys for a multi-signature account may be stored as backups, e.g., in secure storage, which…

Why Bitcoin Gold Got Delisted From Bittrex

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Crypto exchange Bittrex is set to delist Bitcoin Gold (BTG), a hard fork of Bitcoin (BTC), by Sept.14, after details of an $18 million hack of the BTG network in May emerged this week. How unexpected was this announcement coming from the exchange, and what are the chances for BTG now that it has found itself in the midst of yet another scandal? “One CPU one vote” ideology: How Bitcoin Gold was created Bitcoin Gold (BTG) is a hard fork of Bitcoin (BTC). It splintered off the original blockchain on…

Swiss Blockchain Company Gains Regulator Approval, Seeks Banking License in 2019

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Swiss blockchain startup Smart Valor has won approval from the country’s regulators to operate in the local financial market, Reuters reported September 5. Smart Valor will be regulated by the local Financial Services Standards Association (VQF) rather than the national regulatory agency, the Financial Market Supervisory Authority (FINMA). The VQF is authorized by FINMA to check anti-money laundering (AML) compliance. Status as a regulator-approved financial intermediary will purportedly give Smart Valor more credibility, as it will be actively supervised for AML compliance. However, it was not clear whether other blockchain-related…

IBM Launches Stellar-Based Blockchain Payments Platform

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Computing giant IBM has launched a blockchain-based financial solution that it says has the potential to completely upend the existing status quo in global payments and remittances. The new solution called ‘IBM Blockchain World Wire‘ combines the Stellar blockchain with digital assets to make instant money transfers possible of a guaranteed value possible. In July, CCN reported that IBM backed a dollar-pegged stablecoin issued by Stronghold on the Stellar network. In the same month, IBM announced that it was involved in an environmentally friendly crypto project also built on Stellar. The new Stellar-based platform…

Japanese Real Estate Firm Announces Encouraging Results in Bitcoin and Smart Contract Trials

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Ruden Holdings, a Japanese real estate firm has come up with positive results concerning its “virtual currency real estate settlement platform.” Per a post on its official website, the results of the ongoing trials were revealed on September 4, 2018, with several benefits noticed compared to traditional methods of transacting in real estate industry. The Tokyo Stock Exchange Listed company revealed that the trial above was conducted in collaboration with Blockchain Global Limited (BGL), a DLT-based firm working to foster a safe and transparent ecosystem for monetary transactions. Trial Specifics…

No Go on a Cryptocurrency Trading Desk

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Goldman Sachs (NYSE:GS) has finally clarified that a cryptocurrency trading desk is not in its plans for the foreseeable future. Some investors must feel downtrodden about this news. Let’s find out what’s going on. Cryptocurrency Trading Desk? The Goldman Sachs Rumour Mill The rumour mill has been churning for some months now; it was believed that Goldman Sachs had been making significant progress towards establishing a direct crypto trading desk. But what started the chinese whisper? Well, catalysts for the rumour go back to 2017 and began when the bank…