Day: September 21, 2018

Hong Kong Stock Exchange Eyeing Blockchain Firm Acquisitions

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Insider sources have suggested that the Hong Kong Stock Exchange (HKEX) is eyeing takeovers in the blockchain and other tech sectors, according to a Bloomberg article published September 21. Bloomberg cites “people with knowledge of the matter” as saying that the exchange is considering a change in strategy due to stalling trading links with exchanges in China, citing worsening U.S.–China trade relations as a further cause for concern. The sources reportedly told Bloomberg that HKEX CEO Charles Li has met with “at least three investment banks” to discuss diversifying the…

How RippleNet Works | CCG

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People and businesses increasingly expect everything in their lives to move at the speed of the web. Conditioned by smartphone and apps where nearly anything is attainable at the press of a button, these customers are often left wanting when it comes to their experiences with money and financial service providers. This is because an aging payments infrastructure designed more than four decades ago leads to expensive transactions that can take days to settle with little visibility or certainty as to their ultimate success. This experience runs contrary to customer expectations for…

eCash Founder David Chaum Makes Bold Promises with Elixxir Blockchain

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Over 30 years after creating eCash, a predecessor of bitcoin and other cryptocurrencies which spawned the Cypherpunk movement of the 1980s, Dr. David Chaum is back in the public eye with a claim of having invented “the world’s fastest cryptocurrency.” Chaum is widely regarded as the forefather of cryptocurrencies and the wider world of cryptographic security and online privacy because of his pioneering security research work in the ’80s. His academic paper, “Blind Signatures for Untraceable Payments,” laid the groundwork for modern cryptography used in securing blockchains and cryptocurrencies. The…

Point72 Exec Leaves the Firm to Launch Crypto Hedge Fund in October

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Former equities portfolio manager Travis Kling has left billionaire Steven Cohen’s Point72 Asset Management to launch his own digital assets fund, Bloomberg reported September 21. Point72 is an asset management firm founded in 2014 as the successor of investment company SAC Capital Advisors. The latter pleaded guilty to federal insider trading charges and paid a $1.8 billion fine. Point 72 has offices in New York City, Hong Kong, Tokyo, Singapore, London, Paris, and Palo Alto, while its staff is marked with former IBM executive Timothy Shaughnessy as chief operating officer.…

Crypto-Community Debates Bitcoin Core Bug and a ‘Forced Upgrade’

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This week the cryptocurrency community has been discussing and dealing with the critical vulnerability that was found in the Bitcoin Core (BTC) reference client. Many observers are calling the bug one of the worst issues BTC has had in years, comparing the exploit to the March 2013 mandatory hard fork. In fact, in the eyes of many, the network is still vulnerable to massive inflation from an attack that costs a mere 12.5 BTC ($83,000). Also read: Critical Bug Found in Bitcoin Core Invokes the Multiple Client Argument Peter Todd: ‘The…

Petro Coin | Beginning Global Trade in Venezuela Come October

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Venezuela’s president, Nicolas Maduro, just made a bold statement regarding his oil-backed cryptocurrency, the Petro Coin. The Petro Coin Maduro appeared on the national VTV channel today and delivered a speech about his country’s latest economic issues. According to VTV’s official website, Maduro said: “The Petro enters the street, as a currency of exchange, purchase and convertible currencies for the world.” However, the Venezuelan president didn’t specify the areas where the Petro will be used. Maduro also didn’t name any countries willing to accept the Petro Coin. This oil-backed cryptocurrency was…

Presenting a United Front of Cryptocurrency Companies to Work With Congress

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It’s a sign of the times and the growing maturity of the crypto industry that a new industry trade association launched in Washington, D.C., on September 11, 2018, to lobby the U.S. government on a range of issues from taxation to regulations; to educate members of congress about the growing success of blockchain; and to encourage lawmakers to allow innovation to flourish and benefit the economy. Kristin Smith, director of external affairs for the new Blockchain Association (BA), told Bitcoin Magazine in an interview that the time has come to…

Let’s Talk Bitcoin: Authority in a Decentralized System

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On the most recent episode of Let’s Talk Bitcoin!, the hosts discuss the now-defunct Bitcoin Alert system, devised by Satoshi himself. A rarity in the podcast space, this episode’s exploration involved no guest appearances, instead relying on the wealth of experience that Adam B. Levine, Stephanie Murphy, Jonathan Mohan and Andreas Antonopoulos had already picked up from their time with Bitcoin. Although seldom used and quickly discontinued, Bitcoin Alert was originally devised as an emergency means of sending communications to all members of the Bitcoin network, by propagating and authenticating…

Brazil’s Largest Independent Broker Is Launching a Crypto Exchange

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The parent company of Brazil’s largest independent broker is setting up a cryptocurrency exchange, Bloomberg reported Thursday. Grupo XP, which owns brokerage firm XP Investimentos, plans to launch the platform in the “coming months,” the news source said, adding it will support trading in bitcoin and ethereum. However, despite the notable move, the firm seems a little reluctant to dip their toe in the crypto waters. Speaking at an event in Sao Paulo, the firm’s executive officer, Guilherme Benchimol, said: “I must confess, this is a theme I’d rather didn’t…

The Good, the Bad and the Ugly Details of One of Bitcoin’s Nastiest …

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For well over a year, versions of Bitcoin Core — Bitcoin’s leading software implementation — contained a severe software bug. The bug was fixed with Bitcoin Core 0.16.3 (and 0.17.0rc4), released this week, and the status of the Bitcoin network now appears to be safe, with no harm done. The Bitcoin Core project has released a full disclosure report, revealing that the bug was even worse than previously thought. These are the good, the bad and the ugly details about one of Bitcoin Core’s nastiest bugs to date. (But not…