Day: October 30, 2018

Ethereum’s Token Standard Creator Wants to Make ICOs Reversible

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The developer that formalized the code underlying most initial coin offerings (ICOs) – ethereum’s ERC-20 token standard – has proposed a new approach in a bid to make the funding schemes more safe for would-be investors. Speaking in Prague on Tuesday at Devcon4, ethereum’s annual developer conference, developer Fabian Vogelsteller proposed a “reversible ICO,” or RICO, that would allow token investors to take back their funds at any stage in that project’s lifespan. Specifically, the concept involves the creation of a special-purpose smart contract that allows investors to “reverse their funding…

Tanzanian Government Signals Blockchain Interest

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Tanzanian Government Signals Blockchain Interest October 30, 2018 by Trevor Hill The Tanzanian government has allegedly set its eyes on blockchain development, with officials announcing they will be actively conducting research to gather more information on the nascent technology. The goal of the study is to help determine what, if any, benefits blockchain may provide to the developing African country.  Also see: Bruce Fenton: We Don’t Need Extra Regulation for Security Tokens Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Tanzania to Take a Cautious Approach to…

Choosing the Most Secure Crypto Exchange, Explained

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6. Actions matter more than words – so take a look at what they have been doing to protect themselves from hacks and keep their platforms secure. Investment in fraud analytics matters. When exchanges spend money on trying to ensure their systems are robust, it helps to protect you: the user. Many platforms regularly submit themselves to security audits by independent parties, who then publish their findings and disclose the vulnerabilities they have found. Reputable exchanges will publish the outcome of these audits in full – enabling you to see…

Warren Buffett’s Holding Invests $600 Mln in Fintech Firms Focused on Emerging Markets

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Multinational holding conglomerate Berkshire Hathaway – which counts outspoken crypto critic Warren Buffett as its CEO and chairman – has invested around $600 million in two fintech payment firms focused on emerging markets, the Wall Street Journal (WSJ) reported Oct. 29. Both investments are said to have been spearheaded by one of Berkshire’s two portfolio managers, Todd Combs. In August, Berkshire is reported to have bought a roughly $300 million stake in the parent company of Paytm, India’s largest mobile-payments service. The second investment was made just this past week,…

Why The Swedish Central Bank Sees The Need For Digital Currency

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Sveriges Riksbank, the central bank of Sweden, is looking to issue a central bank digital currency (CBDC) called the e‐krona. The Riksbank set up an e-krona project to explore why and when Sweden should introduce an e‐krona, the electronic form of the Swedish kronor. According to a report issued by the e-krona project’s team, central bank digital currencies are a relatively unexplored area that is currently being analyzed by several central banks around the world. The report suggests the use of banknotes and coins is declining in the country and…

Election Commission Head Says ‘Blockchain’ Sounds Like Prison, Suggests ‘Rebranding’

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The topic of implementing blockchain technology for voting was discussed at an event hosted by the Russian Central Election Commission (CEC), local state-owned news agency TASS reported Oct. 29. Speaking at the Election Commission’s conference to celebrate 25 years of Russia’s electoral system, participants and officials discussed electronic voting, including blockchain-powered solutions. In a response to the discussion of blockchain at the conference, Ella Pamfilova, the head of the Election Commission, suggested “rebranding” the technology in Russia: “To promote this technology [blockchain] in Russia we need some rebranding. We need……

Coinbase Raises $300 Million in New Funding Round to ‘Accelerate’ Cryptocurrency Adoption

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  Major U.S. crypto exchange and wallet provider Coinbase has raised $300 million in a fresh funding round that brings its post-money valuation to $8 billion, according to an official blog post published today, Oct. 30. The Series E equity financing round was reportedly led by investment firm Tiger Global Management, with participation from a host of backers well-known for their investments in the crypto space, such as Y Combinator Continuity, Wellington Management, Andreessen Horowitz, and Polychain, among others. According to Coinbase, the funds will be used to “accelerate” the…

Expert gives a positive prediction about bitcoin (BTC) and the cryptocurrency market

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Nigel Green predicted that Bitcoin (BTC) and the cryptocurrency market experience exponential gains in the coming weeks. This is despite the bear conditions that have heavily hit the market in the recent months. However, will this forecast come true? Let’s find out. Price analysis According to the preliminary market analysis, the price bleed is consistent with not just top ten cryptocurrencies, but also the entire top twenty digital currencies. At the time of writing, Bitcoin (BTC) was falling by 3% with a total market cap of $110.120 billion. Bitcoin’s price…

Branding Mishap of Bitcoin ‘ATM’ Landed us in Trouble, Says Unocoin Founder

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About a week since the seizure of what was to be the first Bitcoin ATM in India, one of the co-founders of the firm that installed the cryptocurrency vending machine, Unocoin, has speculated that the debacle could have been avoided with better branding. Speaking to Quartz India, the co-founder of Unocoin, Sathvik Vishwanath, has claimed that by branding the cryptocurrency kiosk ‘Bitcoin ATM’ they probably created the wrong impression as the acronym ‘ATM’ carries certain connotations. However, according to Vishwanath, the device did not need any regulatory approval, unlike the…

Bitcoin Is ‘Anything but Useful’ Says Ex-Federal Reserve Chair Janet Yellen

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Bitcoin is “anything but” a useful store of value, former U.S. Federal Reserve chair Janet Yellen stated in a speech Monday, Canadian financial news outlet Kitco reported Oct. 29. Speaking during an interview at the 2018 Canada FinTech Forum in Montreal, Yellen – who rose to fame in the cryptocurrency community last year as the target of the now infamous ‘Buy Bitcoin’ session at a House Financial Services Committee meeting – doubled down on her previous criticism of the asset. “It has long been thought that for something to be…