Day: December 4, 2018

Binance to Launch Its Own Blockchain ‘Binance Chain’ in ‘Coming Months’

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Binance, the world’s largest crypto exchange by trading volumes, will launch its own blockchain “Binance Chain” in the “coming months,” as the company revealed in a tweet on Dec. 4. The new Binance-backed blockchain aims to provide a basis for creating new cryptocurrencies and Initial Coin Offering (ICO) tokens, as the company said in the tweet: “Binance is pushing for blockchain adoption and doing many things to help advancement of the industry. E.g. we will have the Binance chain ready in the coming months, on which millions of projects can…

Crypto Exchange Poloniex Launches Institutional Trading Services

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Crypto exchange Poloniex has announced the opening of trading services for institutional clients. The company, which was acquired by payments firm Circle earlier this year, said Tuesday that it will begin offering institutional accounts, with support for different crypto trading pairs and API interfaces. The exchange will also provide no-fee transactions for all bitcoin/USD Coin trades in December. As part of its new accounts, Circle is offering over-the-counter trading through Circle Trade, services through Poloniex and trading pairs with the USDC stablecoin, according to a registration page. Firms looking to participate in…

Waves Price Surges 50% While Broader Crypto Market Stagnates

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Waves, a token platform with the web developer generation in mind, has seen its base token rise nearly 50 percent over the last 24 hours amid a generally-stagnant crypto market, making analysts scratch their heads – what could be driving this? Waves/USD | Binance | Source: TradingView Aside from the normal hustle and flow of cryptocurrencies gaining wider adoption, we think we might have found the answer to increased demand for Waves — their updated mobile wallet, which now enables credit card purchase of Waves that can then be exchanged across the…

Major Latin American Bank Conglomerate Itau to Create Blockchain Platform for Small Loans

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Brazil’s largest private bank has partnered with United Kingdom bank Standard Chartered to create a blockchain-based platform for small loans, according to a press release published by Itau Tuesday, Dec. 4. Itau Unibanco, also a major Latin American banking group, and Standard Chartered both offer international banking services. The two entities have successfully conducted a proof-of-concept (PoC) for the mentioned platform, based on Corda Connect developed by New York-based blockchain startup R3. Moreover, Itau and Standard Chartered, joined by United States multinational financial services company Wells Fargo, have issued a…

Swiss Finance Minister Rejects Specific Blockchain Legislation in Favor of Current Laws

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The Swiss Minister of Finance, Ueli Maurer, has rejected a possible blockchain law in a speech at blockchain conference Infrachain in Bern, Cointelegraph auf Deutsch reported today, Dec. 4. Instead of a specific blockchain or crypto legal framework, Switzerland plans to tweak existing laws to allow for the new technology and its financial applications, Maurer said. The government expects to propose changes to six laws, including the civil code and bankruptcy law, next year. Maurer, who has traveled extensively with Swiss bankers, made it clear that he is aware of…

How Significant Is Blockchain in Internet of Things?

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The spotlight was placed back on the Internet of Things (IoT) recently when Bosch, the multinational engineering and electronics company, tweeted on Nov. 12 about their Cross Domain Development Kit (XDK), a programmable sensor device and IoT prototyping platform, in partnership with IOTA. A number of definitions for IoT exist, of which Ernst and Young (EY) describes it in the simplest terms: “The Internet of Things (IoT) describes the connection of devices — any devices — to the internet using embedded software and sensors to communicate, collect and exchange data…

Chinese Crypto Investor to Develop Stablecoin Within Hong Kong-Based Blockchain Fund

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Chinese crypto investor Li Xiaolai will lead a stablecoin project within Hong Kong-based blockchain fund Grandshores Technology, according to an official document issued on Monday, Dec. 3. China’s Bitcoin (BTC) “tycoon” Li Xiaolai has been also appointed as an executive director and co-chief executive officer of Grandshores Technology starting from Monday, Dec. 3. Within the new position at the blockchain fund, Li Xiaolai will lead a number of initiatives including the launch of a stablecoin, establishment of a Directed Acyclic Graph (DAG)-based public database, development of Trusted Execution Environment (TEE)…

Russian Intellectual Property Court Trials Blockchain to Store Copyright Data

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A Russian court dedicated to intellectual property cases has successfully tested a blockchain network for storing copyright data. The technology was reportedly used for the first time in the judicial area in Russia, major Russian news agency TASS writes Monday, Dec. 3. According to TASS, the court recorded a change in a group of right holders, using a blockchain solution provided by Russian intellectual property startup IPChain. IPChain’s president Andrey Krichevsky claims this is a precedent for the Russian judicial system, calling the use of the tech “a definite breakthrough.”…

As r/Bitcoin Hits One Million Users, State Street Claims ‘No Urgency’ for Crypto Custody

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As r/Bitcoin Hits One Million Users, State Street Claims ‘No Urgency’ for Crypto Custody December 4, 2018 by Paul de Havilland The Reddit subreddit r/Bitcoin has hit the one million user milestone, some eight years after it began. Despite the surging interest in bitcoin among the wider community, investment management giant State Street claims there is “no urgency” to develop secure crypto storage services for its clients. Also read: New Dawn: Treasury Dept. Levies Bitcoin Address Sanctions Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts r/Bitcoin Subreddit…

EOS, Bitcoin Cash Drop Biggest as Top Cryptocurrencies Correct Lower

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EOS continues to face more rapid capitulation than its peer blockchain projects after falling another 11% in a day. The EOS/USD rate on Tuesday established an intraday low at 2.41-fiat, down 28.27% from its weekly high at 3.36-fiat. Meanwhile, the maximum drop noted in the EOS market capitalization this week touched $861 million, according to the data available at CoinMarketCap.com. EOS/USD 7D MARKET CAP AND PRICE | SOURCE: COINMARKETCAP.COM The downside action in the EOS market stems from uncertainties related to the blockchain that powers the token. Investors and traders are…