Day: December 3, 2018

Canadian Payments Startup Glance Rolls out “Pay With Bitcoin” Feature Across all Merchants

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Canadian payments company Glance has announced that its users will now be able to use Bitcoin as a payment method across all existing merchants and services. In a press release issued November 29, 2018, the company explained that the new feature will be called “Pay With Bitcoin.” Despite the name, however, Glance’s solution differs from traditional cryptocurrency-based payment processors. Converting to “Glance Dollars” To use the feature, Glance Pay users will have to first convert their bitcoin balance to a platform-specific currency, called Glance Dollars. The company explained in its release:…

Crypto Assets See Losses Across the Board as BTC Falls Below $4,000

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Monday, Dec. 3 — Crypto markets have today again taken a major downturn, with all of the major coins by market cap seeing significant losses of within a 4 and 10 percent range, as data from Coin360 shows. Market visualization by Coin360 Bitcoin (BTC) has dropped below the $4,000 price point, down about 7 percent on the day to trade at $3,868 at press time. Despite rebounding to as high as $4,400 Nov. 29, the top coin has today seen a drop from a 24-hour high of around $4,135 to…

Seven Funds Plan $300 Million Investment for Blockchain Startups Through 2021

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Ohio funds will pour over $300 million into blockchain startups through 2021, Northeast Ohio daily news outlet Cleveland.com reported Dec. 3, quoting executives. Speaking at the ongoing Blockland Solutions conference, nonprofit JumpStart CEO Ray Leach announced that a total of seven funds were primed to invest $100 million in “early-stage startups that focus on using blockchain technology for business or government.” Another $200 million was being considered by “additional investment teams” for blockchain outfits working within Ohio’s social welfare projects, dubbed “Opportunity Zones.” The moves come as the U.S. Buckeye…

Beijing Financial Authority Warns Against ‘Illegal’ Security Token Offerings

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The director general of the Beijing Municipal Bureau of Financial Work has warned that Security Token Offering (STOs) fundraising is “illegal” activity, independent Beijing-based media outlet Caijing reported on Dec.1. The Beijing Municipal Bureau of Financial Work had hosted a “2018 Global Wealth Management Forum” on Dec. 1 where Huo Xuewen, the Beijing financial watchdog’s director, underlined the risks associated with fundraising through a STO fundraising: “I will make a risk warning to those who are propagating in Beijing and want to issue [a] STO. Don’t do it in Beijing.…

Reddit’s Bitcoin Community Reaches 1 Million Subscribers

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While Bitcoin’s price has been on a continuous downward slope since November, the cryptocurrency’s official subreddit, ‘r/Bitcoin’, has achieved one of the biggest milestones on Reddit, reaching 1 million subscribers on December 2, 2018. Bitcoin’s Subreddit Reaches an Important Milestone Despite the raging bear market that has been shaking the crypto industry since early November 2018, there are certain aspects of Bitcoin that seem to be thriving while everything else is on a downward slope. On December 2, 2018, Bitcoin’s official subreddit, ‘r/Bitcoin‘, has reached 1 million subscribers. An important…

26 French Companies, Five Banks Complete Blockchain-Based KYC Trial Based on R3’s Corda

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26 French companies and five major banks have completed a Know Your Customer (KYC) test based on blockchain, according to a press release by the entrant firm RCI Bank and Services released Dec. 3. RCI Bank and Services, a French automotive financing and insurance firm unveiled details of a customer knowledge-focused blockchain solution trialed in partnership with blockchain consortium R3. According to the press release, the Proof-of-Concept (PoC) test has been conducted in cooperation with the Association Française des Trésoriers d’Entreprise (AFTE), a local network of treasury and finance professionals.…

GM Files Blockchain Patent to Manage Data from Autonomous Cars

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American car manufacturing giant General Motors (GM) has filed a blockchain patent for a solution to manage data from autonomous vehicles. The patent application was published by the U.S. Patent and Trademark Office (USPTO) Nov. 29. GM’s application, first filed May 25, 2017, outlines a system for using blockchain to provide “secure” and “robust” data distribution and interoperable exchange between multiple automated vehicles and other entities, such as municipalities, regional authorities, and public facilities. While autonomous vehicles in particular require “high degrees of integrity” for “temporal event data,” the application…

‘Worthless’ Bitcoin Has Entered Death Spiral: Finance Professor

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Earlier this year, with the bitcoin price trading around $7,000, Santa Clara University Professor of Finance Atulya Sarin published an opinion piece arguing that the rising cost of crypto mining, coupled with the ability for bearish investors to short bitcoin in the futures markets, could spell doom for the flagship cryptocurrency. Now, following a further ~45 percent decline, Sarin is calling it: bitcoin has entered a “death spiral,” and it’s “close to becoming worthless.” Writing in an op-ed published in MarketWatch, Sarin alleged that the bitcoin has embarked on a…

Sunniva Inc Reports Impressive Consolidated Q3 2018 Earnings

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Sunniva Inc (OTCMKTS:SNNVF) has released its financial report for Q3 2018 alongside those of the previous 9 months ending September 2018. Financial Highlights The company recorded a loss of $7.369 million from its operations compared to $ 7.332 million recorded during the same period last year. The net loss amounted to $6.781 million versus $6.247 reported in 2017. However, the company’s year to date revenue rose to $13.4 million from last year’s $10.215 million. The total net loss was $17.961 against last year’s $17.953 with a basic loss per individual…

Isodiol International Inc Reports $8.03 million Profits in Q2 2019

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Isodiol International Inc (OTCMKTS:ISOLF) has announced its second quarter financial statement for the 2019 fiscal year. The report for the period ending September 30, 2018 indicates that the hemp-based company generated total revenue of $8.03 million translating to gross profits of $4.32 million. In its report to investors, the company outlines its major achievements during the Q2 while further projecting a prosperous future. Isodiol announced that it has been featured in the American Health Journal – Innovations in Medicine. The announcement which first appeared on the company’s blog revealed that…