Day: October 19, 2018

Lack of Transparency to Blame for Tether’s Loss of USD Peg: Novogratz

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Five days since losing its U.S. dollar peg, fiat-backed cryptocurrency tether (USDT) continues to trade at a discount to its supposed $1.00 valuation. Defenders have largely chalked up the markdown to FUD, arguing that supporters of other “stablecoins” are launching a coordinated assault on tether, which has long dominated this market niche. However, billionaire investor and cryptocurrency bull Mike Novogratz says that USDT’s woes are the fault of its issuer’s lack of transparency. USDT/USD | Kraken | Source: TradingView “I think Tether didn’t do a great job in terms of creating…

Privacy Optimizing Bulletproofs Now Live on Monero

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Privacy Optimizing Bulletproofs Now Live on Monero October 19, 2018 by William Peaster In Monero’s latest scheduled hard fork, the coin’s developers activated Bulletproofs, a genre of zero-knowledge proofs that facilitate efficient confidential transactions wherein the sums transferred can be obscured.  Also see: Gemini Dollar Soars, Public Slinging Match Over Unaudited Stablecoins Ensues Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Monero Gets That Much More Private On October 18th, Monero (XMR) underwent a scheduled hard fork, and, among other notable updates, saw Bulletproofs activated on its…

Fed Up With AI Mistakes? Blockchain Startup Follows ‘Wikipedia Model’ to Make It Better

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Artificial intelligence (AI) is advancing by leaps and bounds, with exciting new applications launching every day. But a blockchain-based startup believes the transition from an “information economy” to an “intelligence economy” will prove a bumpy ride for many people. Large corporations have built most  of the common AI systems that many people use today. CEN says this centralization has the danger of monopolizing AI – leaving most of us out of the loop. According to CEN, this is not the only problem. Right now, AI systems make basic errors that…

Armenian PM Attends Launch of Mining Farm Claiming to Be One of ‘World’s Largest’

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The opening ceremony of a new mining farm touting itself as one of the “world’s largest” was held in the Armenian capital Oct. 18, according to a report by local platform News Armenia. The Armenian Prime Minister and other top officials were reportedly in attendance. The new mining farm is reportedly a joint venture by major Armenian conglomerate Multi Group, founded by oligarch and politician Gagik Tsarukyan, and controversial international mining firm Omnia Tech. Tsarukyan is the founder of Tsarukyan Alliance, which represents the second biggest parliamentary bloc in the…

Global AML Watchdog to Release Crypto Regulations By Next June

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A global money-laundering watchdog has said it will begin publishing rules for international cryptocurrency regulation by next summer. According to a Reuters report Friday, the Financial Action Task Force (FATF) – the France-based intergovernmental body founded in 1989 to develop policies for tackling money laundering – said that global jurisdictions will have to bring into force licensing schemes or regulations for crypto exchanges and possibly digital wallet providers under the new rules. Companies offering financial services for initial coin offerings will also be included, the report states. The news comes after the FATF plenary…

North Korean Hacking Group Lazarus Stole $571 Million in Cryptos: Report

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North Korea’s infamous hacking group, dubbed Lazarus, has managed to steal over half a billion dollars in cryptocurrencies, a report indicates. According to an article published Friday by The Next Web, the coming annual report from cybersecurity vendor Group-IB sets out that Lazarus was behind 14 hacks on crypto exchanges since January 2017, reaping a massive $571 million from the attacks. The news backs up claims from officials in South Korea, who said in February that North Korean hackers likely stole tens of millions of dollars’ worth in cryptocurrencies in 2017. As reported…

North Korean Hacking Group Lazerus Stole $571 Million in Cryptos: Report

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North Korea’s infamous hacking group, dubbed Lazarus, has managed to steal over half a billion dollars in cryptocurrencies, a report indicates. According to an article published Friday by The Next Web, the coming annual report from cybersecurity vendor Group-IB sets out that Lazarus was behind 14 hacks on crypto exchanges since January 2017, reaping a massive $571 million from the attacks. The news backs up claims from officials in South Korea, who said in February that North Korean hackers likely stole tens of millions of dollars’ worth in cryptocurrencies in 2017. As reported…

Third Largest Crypto Exchange Huobi Opens Deposits for New ‘Stablecoin Solution’ HUSD

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Singapore-headquartered cryptocurrency exchange Huobi announced the creation of what it calls a “stablecoin solution” in a blog post Friday, Oct. 19. Set to go live from Friday, the project, known as HUSD, will consist of Huobi’s own stablecoin asset which investors can use as an go-between to interact with four USD-backed stablecoins currently listed on the exchange. Specifically, Huobi will accept and store Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC) and Gemini Dollars (GUSD), giving users a balance in HUSD as a kind of aggregator of all four.…

Accenture introduces blockchain solution; to help in procurement procedures

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Useful applications for blockchain technology seem endless. Use cases for the technology are coming up every day. In the latest, Accenture introduces a blockchain solution that will facilitate simple transactions for companies. According to a press release, the solution will simplify the way businesses obtain financing. The move involves a Thailand-based fintech startup company, Digital Ventures. Together, the firms will develop “the world’s first fully integrated procure-to-pay solution on the Corda open-source platform from enterprise blockchain software firm R3,” the news release adds. Digital Ventures is a subsidiary of Siam…

Invest in Gold and Crypto Petro, Venezuela’s President Tells Public in Fresh TV Plug

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The president of Venezuela Nicolas Maduro called on workers to save in gold and state-run cryptocurrency Petro during a salary shake-up he announced Thursday, October 18, local news portal Noticiero Digital reports. In a television broadcast, Maduro said that “in the coming weeks,” workers would begin receiving bonus payments “based on” Petro, rather than extant fiat currency, the Sovereign Bolivar. Since receiving its formal launch, Petro has continued to garner suspicion from multiple sources both within and outside Venezuela, criticism stemming from its alleged backing from a state oil company…