Day: October 18, 2018

Global Chip Supplier Expects Low Demand for Crypto Mining, Offsetting Q4 Revenue Growth

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Major global chip manufacturing firm Taiwan Semiconductor Manufacturing (TSMC) predicts revenue growth in Q4, but expects a counterbalance due to the low demand for crypto mining hardware, Reuters reports Thursday, Oct. 18. TSMC, the world’s largest independent semiconductor foundry, forecasts “modest” revenue growth in the fourth quarter, mainly due to solid sales of high-end chips for premium smartphones. According to Reuters, TSMC is expecting Q4 revenue to increase to somewhere between $9.35 billion and $9.45 billion, as compared to $9.21 billion a year ago. However, the expected growth will be…

Blockchain Can Reshape Global e-Government Procurement, Say World Bank Experts

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Experts with ties to the World Bank Group presented options for using blockchain in e-government procurement (e-GP) in a report released Wednesday, Oct. 17. The World Bank Group includes organizations commonly known together as the World Bank. e-GP, which refers to business-to-government purchase and sale of anything from goods and services to data exchange, has spawned complex structures in many countries, which blockchain technology could help simplify and otherwise “enhance,” the report’s authors say. “Though the implementation of e-GP systems has contributed to enhanced efficiency and transparency in Government Procurement,…

Accenture Launches Commercial R3 Blockchain Solution in Thailand

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Global consulting giant Accenture and Digital Ventures, a fintech subsidiary of Thai financial services conglomerate Slam Commercial Bank (SCB) have announced the launch of a jointly developed blockchain solution that makes commercial operations in Thailand more efficient by using R3‘s open-source Corda blockchain protocol to revamp the process of making and receiving payments and accessing finance. Operating Framework According to the announcement, the new platform is the world’s first fully integrated procure-to-pay solution, operating on R3’s Corda open-source platform. Accenture developed the platform in partnership with SCG using “design thinking,…

BitMEX Set to Compete with Bitcoin Core Developing Its Own Bitcoin Software Client

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This week the BitMEX team has published a lengthy post in their official blog on the issue of competition with the Bitcoin Core software project. Having analyzed the capacities and development of the project under consideration, the BitMEX team has found clear differences between the ways of competeing with it. One of the main conclusions is that belief in Bitcoin Core’s exclusive ability to affect Bitcoin is a misconception, so, even if something happens to Bitcoin Core, if it is hacked or deactivated, it won’t have a huge impact on…

Only 39 Percent of Chileans Are Aware of Cryptocurrencies, Study Shows

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The results of the first Financial Knowledge Index conducted in Chile reveal that only 39 percent of citizens have ever heard of cryptocurrencies, according to a paper published Tuesday, Oct. 16, by the Chilean Central Securities Depository (DCV). Consulting company Cadem, which performed the research on behalf of DCV, interviewed almost thousand citizens, both men and women, in 15 regional capitals. The questionnaire included a section on cryptocurrency awareness. According to the paper, Chilean men know more about cryptocurrencies, particularly Bitcoin (BTC), with 51 percent saying they’ve heard of digital…

Two-Thirds Fail Crypto Agent Exam Despite Authorities’ Attempts to Ease Process

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Almost two-thirds of those taking Malta’s cryptocurrency agent certification have failed, despite examiners’ last-minute changes to ease the marking scheme, English-language daily Times of Malta reports Oct. 18. Since the Virtual Financial Assets Act (VFA) came into effect last November, the exam, as well as a training course, has been mandatory for all those looking to work as “agents” in the crypto sector. “Agents” here refers to practitioners such as lawyers, accountants, and auditors who may want to liaise between Initial Coin Offering (ICO) operators, or other cryptocurrency vendors, and…

Blockchain Startup Tron Announces Partnership with Internet Giant Baidu

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A blockchain startup aiming to decentralized the internet is shaking hands with the field’s most prominent player. But does it matter? Tron Foundation revealed in its latest tweet that it would be working closely with Baidu, a China-based internet giant, to use their cloud solutions. Far from what seems like an official and detailed press release, today’s announcement nevertheless confirmed to Tron’s October 12 teaser in which it admitted partnering with a giant whose valuation was worth billions of dollars. But to many who responded after Baidu’s name came to…

Japanese Taxation Committee Seeks to Simplify Cryptocurrency Tax Reporting

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A Japanese taxation policy committee held a debate with the aim of simplifying cryptocurrency tax Wednesday, Oct. 17, Japanese daily news outlet Sankei News reports. Highlighting the complex tax filing regime currently in place for Japanese citizens, officials from the committee — which advises the government on policy — said there was a need to adjust the procedure to stimulate a more thorough reporting of cryptocurrency gains. “The environment should be adjusted so that tax returns can be simplified,” Sankei quotes the organization as saying. Japan has sought to future-proof…

Major [Shuttered] Indian Exchange Zebpay Moves to Malta after Central Bank Blockade

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The harsh cryptocurrency regulatory climate in India has turned out to be a gift for the self-styled blockchain island of Malta as one of the cryptocurrency exchanges that recently shut down in the world’s second-most populous country has decided to move operations there. First reported by Quartz, Zebpay, one of the biggest exchanges in India, has registered an office in Malta with a view of serving not just citizens and residents of the island nation but also other European countries. In the Terms of Use page on its website Zebpay…

130 Coffee Shops in Europe Started to Accept and Sell Crypto

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Be honest: shopping with cryptocurrency isn’t always the easiest experience. Even if price volatility is on your side, spending funds can be nightmarish. Crypto is gaining in popularity but many merchants still don’t accept it – meaning you are stuck with those age-old, boring options of paying by card or cash. A “technology enabler” startup known as Cyclebit is aiming to simplify things by enabling stores to serve as “cryptocurrency gateways” – enticing crypto enthusiasts to come and spend their coins with them and inject some new funds into the…