Day: November 12, 2018

The coming Bitcoin Cash Hardfork

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The Bitcoin Cash and how to be prepared for the new coin The upcoming bitcoin hard fork has some users of the cryptocurrency concerned, however, a hard fork in crypto usually process smoothly and with a lot of options on how to prepare for the new fork coin. Users and holders of Bitcoin Cash have enough time to research and look into the usability of the new fork cryptocurrency. A hard fork happens when miners and nodes no longer agree on the consensus rules of that particular protocol in order to achieve future goals.…

Iran Builds A National Rial-Backed Cryptocurrency

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Early this year Iran announced plans to develop a national cryptocurrency that would be used alongside the rial, the nation’s fiat currency. Several months later and the state acted on the announcement and has completed the development of a yet-to-be named cryptocurrency that is backed by rial. Skirting sanctions Iran’s decision to come up with a national cryptocurrency was informed by the need to evade punitive economic sanctions imposed on it by the US. Iran joins the ranks of Venezuela and the Republic of Marshal Island, the rogue nations under…

Japanese Insurer Sompo Partners With African BTC-Enabled Remittance Service BitPesa

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Japanese insurance company Sompo has partnered with pan-African digital payment platform BTC Africa, also known as BitPesa, according to a press release published Nov. 11 by Asia-focused English-language publication Nikkei Asian Review. Sompo Holdings Inc. reportedly invested 570 million yen ($5 million) Nov. 8 to acquire a 10 percent stake in BitPesa. BitPesa is anAfrican Bitcoin (BTC) startup that was founded in 2013, with an initial focus on crypto-enabled  fiat remittances between the U.K. and Kenya. In a statement accompanying the investment, Sompo outlined that the partnership is focused on…

Austrian Government Supports Blockchain Cancer Research, Screening Tool

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The government of Austria is supporting a U.K. cancer research company using blockchain to detect the disease as part of its drive to promote the technology, a press release shared with Cointelegraph confirms Nov. 10. Lancor Scientific, which has developed a device to detect multiple cancer types and record screening results with smart contracts on blockchain, plans to open a research laboratory in the city of Graz. Like Google’s Lymph Node Assistant, the cancer screening tool released in October using artificial intelligence (AI), Lancor Scientific’s offering aims for 90 percent…

Bitcoin Teases Bull Move After Defense of Key Price Support

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Bitcoin could be in for a recovery rally, having defended a key support level over the weekend. The leading cryptocurrency has been looking bearish over the last week. It suffered an ascending channel breakdown on Nov. 7, suggesting a temporary top had been created at $6,540, while the moving averages rolled over in favor of the bears a day later. As a result, BTC looked likely to drop below the support of the trendline connecting the Oct. 11 and Oct. 31 lows, and move toward $6,200 over the weekend. Instead,…

Bitcoin Becomes a Real Trend: US Museums Start Accepting Cryptos

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Photo: Duncan Rawlinson / Flickr While skeptics continue to voice their concerns about not a very bright future for cryptos, Bitcoin continues to conquer the world. This time the news about Bitcoin adoption has come from the U.S. As it has become known, Great Lakes Science Center, a large museum and educational facility in downtown Cleveland, Ohio, is going to accept payments in Bitcoin. Bitcoin transactions will be accepted starting from November 13. The transactions will be processed via BitPay. The main idea that the institution was bearing in mind…

Singapore’s Central Bank, Stock Exchange Settle Tokenised Assets on a Blockchain

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Twitter Facebook LinkedIn In a blockchain breakthrough, Singapore’s central bank and the country’s primary stock exchange have successfully developed an automated method for rapid settlements of tokenized assets. In an announcement on Sunday, the government of Singapore announced the successful development of a Delivery versus Payment (DvP) mechanism – powered by smart contracts – for settlement of tokenized assets over different blockchain platforms. As reported by CCN in August, the joint endeavor was built upon the blockchain developed by the central bank’s effort to tokenize the Singaporean dollar into a…

New Chinese Blockchain Alliance Plans Development of Four Finance-Oriented Platforms

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The “Guangdong, Hong Kong and Macao Dawan District Blockchain Alliance” has been established to promote synergy and innovation and jointly promote the development of the blockchain technology, China News, the official state-run press agency, reported Nov. 9. The newly established alliance — initiated by the Guangzhou City Blockchain Industry Association, the Hong Kong Blockchain Industry Association, and the Macau University Innovation Center — involves 54 different companies and covers blockchain technology in such areas as funds, finances, and trading. The headquarter of the coalition will be located in Guangzhou Development…

EOS ‘Reverses’ Previously-Confirmed Transactions as Pundits Decry Centralization

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Blockchain protocol EOS found itself at the center of fresh controversy Nov. 9 after evidence emerged on social media appearing to show a moderator reversing transactions which had already been confirmed. According to Reddit user u/auti9003, a dispute allegedly involving a phished EOS account was referred to one of the platform’s so-called “arbitrators” who decided to reverse transactions that occurred without the owner’s permission. This, the Reddit user notes, involved undoing transactions which had already received network confirmations. Summarizing, the arbitrator, Ben Gates, referred to the EOS constitution as a…

Blockchain Will Help to Create More Wealth

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Ethereum (ETH) co-founder and ConsenSys CEO Joe Lubin has said that with blockchain, society will move “from a scarcity to an abundance mindset,” in a New York Times (NYT) interview published Nov. 12. Lubin made his remarks at the NYT’s International Luxury Conference at the Intercontinental Hotel in Hong Kong, which runs Nov. 12-13 and brings together speakers that include the CEO of fashion brand Balenciaga, the president of Alibaba Group, and the CEO of luxury coat producer Moncler. During the conference, Lubin spoke about how the advancements heralded by…