Day: November 7, 2018

First blockchain securities exchange; to set up in Mauritius

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The crypto space is slowly seeing advancements towards a fully functioning financial system. According to a report, GMEX Group is partnering with a few other companies to push the frontiers of cryptocurrency. In particular, the companies will launch the first blockchain-powered securities exchange. In particular, the partnership involves MINDEX Holdings Limited, GMEX Group Limited and Hybrid Stock Exchange Corporation Limited. The companies will work together to revolutionize the blockchain industry. Dubbed HYBSE International Marketplace, the exchange will operate out of Mauritius. Mauritius is one of the few countries leading the…

Vitalik Buterin; dismisses rumors of him leaving Ethereum

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Along with blockchain technology came with new personalities that are still gracing the ecosystem. In particular, Vitalik Buterin is one of the few towering figures in the nascent field. However, recent rumours regarding the future of Buterin in Ethereum project seem to be untrue. Ethereum is one of the most notable blockchain networks in the blockchain community. Interestingly, the network introduced smart contracts which are revolutionising the whole blockchain space. In particular, Buterin wrote the Ethereum white paper back in 2012. That makes him a very important figure to the network.…

blockchain and AI to curb tax evasion; through facilitating transparency

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Tax evasion is a problem many countries are grappling with, throughout history in fact. The situation is the same for Thailand. In particular, the country’s Revenue Department will utilize blockchain and AI to curb tax evasion. Interestingly, the department will utilize the fundamental principles of blockchain to verify data associated with a citizens’ tax history. Normally, the distributed ledger technology stores data in an immutable form for a long time. The dangers of this are that with blockchain, governments can track any transaction and the power of governments over their…

Three Thai Siblings Accused of $24 Million Bitcoin Scam Plead ‘Not Guilty’

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Three Thai citizens who are currently being prosecuted for allegedly swindling $24 million worth of Bitcoin (BTC) have pleaded “not guilty” in the Criminal Court of Bangkok, major Thai newspaper Bangkok Post reports Wednesday, Nov. 7. During the hearings, Thai prosecutors accused the three defendants and six accomplices of defrauding 21-year-old Finnish investor Aamai Otava Saarimaa back in 2017. According to the investigation, he was persuaded to buy shares in Expay Software Co, invest in a gambling-focused crypto token Dragon Coin (DRG), and buy 500 million shares in DNA (2002)…

Israel’s Central Bank ‘Not Recommended’ to Issue Own Digital Currency

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An Israeli study group exploring digital currency options has recommended that the country’s central bank not issue its own token, a press release confirmed Nov. 6. The interdepartmental team, set up in November 2017 by the governor of the Bank of Israel to “examine the issue of central bank digital currencies [CBDCs],” revealed its findings in a full report this week. “Central banks around the world are examining the possibility of issuing digital currency and/or using distributed technologies in the payment systems, but no advanced economy has yet issued digital…

BBVA Leads Blockchain-Based Syndicated Loan of $150 Million with BNP Paribas and MUFG

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Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has carried out a blockchain-based syndicated loan of $150 million, U.K.-based global financial news agency Finextra reports Wednesday, Nov. 7. The syndicated bank transaction has been conducted on a private blockchain network through a group of three funding banks including French banking group BNP Paribas, Japan’s bank holding Mitsubishi UFJ Financial Group (MUFG), and BBVA. Acting as the sole underwriter of the transaction, BBVA also secured the participation of a partly state-owned Spanish company Red Eléctrica de España, as well as…

Charlie Shrem ‘Committed No Misconduct’ Says Lawyer as Winklevoss Lawsuit Continues

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  An attorney for embattled Bitcoin Foundation founder Charlie Shrem formally hit back on Nov. 5 at accusations by Tyler and Cameron Winklevoss as part of an ongoing lawsuit concerning alleged Bitcoin (BTC) theft. In a filing addressing the Winklevosses’ claims, attorney Brian E. Klein said Shrem, who is under investigation for allegedly “stealing” 5000 bitcoins ($32 million) from the twins in 2012, had “committed no misconduct.” “Shrem can show by verifiable evidence that he did not take the 5,000 bitcoins (the Winklevosses) accuse him of taking,” the filing reads.…

The Daily: Pro-Bitcoin Governor Elected, Augur Predicts the US Midterms

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Wednesday’s edition of The Daily has a distinctly political tint, coming a day after U.S. voters turned out for the midterm elections. There was plenty to excite supporters on both sides of the divide — the pro and anti-cryptocurrency divide, that is. In addition to talking politics, we take a look at the new Stellar airdrop that’s causing quite a stir. Also read: Car Dealerships and Airport Limos in Japan Begin Accepting Crypto Crowd Power Is the Midterms’ Biggest Winner It was widely predicted that the Democrats would regain control…

Ripple on Coinbase Rumours Swell as XRP Chases Ethereum’s Second Spot

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One of the world’s leading cryptocurrency exchanges may list Ripple’s XRP on its trading platform. While the rumor stands unconfirmed, its impact is already visible on the XRP’s market cap, which has come close to surpassing that of Ethereum. The token on Tuesday surged as much as 26 percent from its November 4 low at $0.449, forming intraday peak towards $0.569 on the BitFinex exchange. The rally saw aggressive buying action with traders entering long positions on higher high formations. A downside correction ensued during the early European trading session.…

Up $100: Bitcoin Price Indicators Grow Increasingly Bullish

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Bitcoin (BTC) looks likely to inch higher toward $6,800 in the near-term, as the technical indicators have grown increasingly bullish in the last 24 hours. Notably, the 14-day relative strength index (RSI), which measures the speed and change of price movements, has jumped to 59.04 – the highest level since Sept. 4. A reading above 50 indicates that bullish forces are acting on the asset. So, it seems safe to say that the leading cryptocurrency is looking its most bullish for two months. At press time, BTC is changing hands at…