Day: November 12, 2018

IBM Looks to Disrupt Scientific Research on the Blockchain

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Twitter Facebook LinkedIn The use cases for distributed ledger technology are on the rise, as evidenced by IBM’s most recent patent application for open scientific research on the blockchain. The tech giant envisions a system in which a blockchain represents an experiment with individual blocks comprised of project components including research data, data analysis and results as well as post-data analysis and more all with block-linking capabilities to reflect the status of modifications. The patent, which was filed with the U.S. Patent and Trademark Office at year-end 2017, comes on the…

Bitcoin News Crypto Currency Daily Roundup November 12

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The rundown: Bitcoin and all major currencies were down in the morning; Formosa Financial, forms a partnership with Wanchain; Blockchain logistics firm Endchain to build a secure and affordable blockchain tracking solution; ArcBlock partners with Soar to create the world’s first decentralized Super-map using blockchain technology; and more. Here is what is happening in the cryptocurrency market on Monday. SEE: Bitstamp Rolls Out A Partnership Deal With Cinnober To Enhance Its Crypto Trading SEE: Iran Builds A National Rial-Backed Cryptocurrency In the News Formosa Financial, which offers a treasury management…

End Of Era For South Korea’s Exchange And First Ever Platform For Cryptocurrency Investment Fund Zeniex

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South Korea’s cryptocurrency exchange platform Zeniex has succumbed to a government crackdown on unauthorized operators. The platform in an official announcement made on November 11 revealed plans to shut down all its operations on November 23. Zeniex, in partnership with a Chinese entity, opened in May 2018. The firm became the first platform to offer a cryptocurrency investment fund, the ZXG Crypto Fund, in South Korea. Unfortunately the crypto investment fund service ran into complications with regulators almost immediately. The offering attracted scrutiny from the FSC for allegedly failing to register…

German’s Financial Regulator Bafin Cracks the Whip on UK’s Finatex Cross-Border Trading

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The Federal Financial Supervisory Authority (Bafin), Germany’s financial regulator, has ordered the immediate cessation of Finatex’s signature cross-border trading on German soil. The regulatory authority published the news on its official website on November 10 citing a formal notice issued to the UK-based company on October 2 to terminate the service with immediate effect. Not licensed for cross-border trading According to the announcement, Finatex through its cryptocurrency trading arm was  “conducting proprietary trading within the meaning of section 1 (1a) sentence 2 no. 4 (c) of the German Banking Act (Kreditwesengesetz…

Crimean Government Considers Creation of Blockchain-Cluster and Crypto Fund

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Crimean authorities are considering creating a blockchain-cluster in the form of a cryptocurrency investment fund to attract tech businesses to the territory. The cluster would be located within the special economic zones (SEZ) in Crimea and its largest city Sevastopol, major state-operated Russian news agency TASS reported Nov. 9. Georgy Muradov, the Permanent Representative of the Republic of Crimea under the President of the Russian Federation, shared the Crimean government’s potential plans about the blockchain-cluster and crypto fund at a meeting of the program committee of the Yalta International Economic…

The Daily: US Museum to Accept Bitcoin, Estonia Grants License to B2BX Exchange

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In today’s edition of The Daily, we report on the latest U.S. museum to open up to cryptocurrency payments, as well as several new lawsuits that have been filed over simjacking. Additionally, the government of Estonia has granted a license to B2BX Exchange, which will allow the company to attract traders from across Europe. Also Read: Lawyer Invests $300 Million to Build Crypto City in the Nevada Desert Science Museum to Take Bitcoin Payments Great Lakes Science Center, an engineering and technology museum in Cleveland, Ohio, has told local media…

Buy Petro within 2018 In Order To Trade It against Other Digital Assets-Venezuelan President

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Venezuelan President Nicolas Maduro, in addition to instituting forced farm labor among his own population as they are starving, has issued a timeline in which the nation’s cryptocurrency petro would be tradable against other digital assets if purchased. Ultimatum According to a translation of the president’s speech by cryptocurrency analyst Jill Carlson, the President asserts that only cryptos bought before the end of December 31 can be converted to other cryptocurrencies. In order to save the country’s economy from a punishing hyperinflation that some estimates say will hit the all-but-meaningless…

Bitcoin Cash Drops 8% Despite November 15 Hard Fork, Market Stagnant

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Twitter Facebook LinkedIn Over the last 24 hours, the price of Bitcoin Cash (BCH) has dropped by more than 8 percent, experiencing a steep sell-off for the first time since October 11. For nearly two weeks, BCH has maintained strong upward momentum supported by the growing anticipation towards the scheduled November 15 hard fork on the Bitcoin Cash network. Yet, since November 7, Bitcoin Cash has recorded five sell candles on its daily price chart, dropping from $640 to below the $500 mark within a five-day span, by more than…

Japan’s GMO Internet Reports ‘Historical Q3 Performance’ for its Crypto-Related Businesses

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Japanese IT giant GMO Internet has published its third quarter report Monday, Nov. 12, revealing a “historical performance” of its crypto-related sectors despite “the harsh external environment.” GMO claims its crypto businesses, including mining equipment production and its crypto exchange, have gained 2.6 billion yen ($22.8 million) in revenue over the third quarter “in just a year since the launch.” GMO Coin, an exchange platform launched by the company, has reportedly seen up to 208,000 users trading about 89 billion yen ($781 million) in October. GMO also reports that the…

The Paradox of Cryptocurrencies in China

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Next month marks the fifth-anniversary of the People Bank of China (PBoC)’s very first crypto regulatory intervention, with the issuance of its ‘Notice on Precautions Against the Risks of Bitcoin’ in Dec. 2013. Over the years, the Chinese authorities have cemented an increasingly hardline stance, as their perception of the financial risks posed by crypto has hardened. Their action has spanned the notorious criminalization of initial coin offerings (ICOs) in Sept. 2017, followed by a series of stark measures that target crypto trading platforms, third-party crypto payment channels, social media…