Day: December 5, 2018

Abu Dhabi Global Market Concludes First Phase of Blockchain-Based KYC Project

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An international financial free zone within the capital of the United Arab Emirates (UAE) has concluded the first phase of its blockchain-based Know Your Customer (KYC) utility project, according to an ADGM press release Dec. 4. The Abu Dhabi Global Market’s (ADGM) regulatory body, the Financial Services Regulatory Authority (FSRA) along with “Big Four” audit firm KPMG have published a review of the project’s “successful” first phase in order to provide key takeaways for members of the financial industry. The review outlines the project’s development over a period of four…

Cryptocurrency Bear Market: Four Options – Choose Wisely

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In the decade since the introduction of Bitcoin, it has been a rollercoaster of a ride for cryptocurrency investors – especially after the start of the bull run late in 2017. There have been thrills and spills, and more ups than downs across the 10 years. Certainly, those who were clever – or lucky – enough to invest in the early days will be very pleased with their yield. Much like a rollercoaster, following a steep ascent comes an exhilarating – sometimes scary – drop, and that has been the case for…

7 Major EU Countries to Go Big on Blockchain, What It Means for Crypto

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On December 4, seven EU countries led by Malta and France have established a group called the “Mediterranean seven” to encourage and promote the usage of blockchain technology. In the months to come, the seven countries that include France, Italy, Spain, Malta, Cyprus, Portugal and Spain, will work to implement the blockchain in education, transport, mobility, shipping, Land Registry, customers, company registry, and healthcare. The declaration obtained by FT read: “This can result not only in the enhancement of e-government services but also increased transparency and reduced administrative burdens, better…

Thailand Stock Exchange Governor Wants to Nurture Blockchain Startups

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Thailand Stock Exchange Governor Wants to Nurture Blockchain Startups December 5, 2018 by Jon Southurst Thailand’s government is about to begin licensing blockchain and cryptocurrency companies — but was its new regulation born from a desire to be a leader in the field… or fear of investment fraud? If it’s the latter, the country could fall behind when it should be nurturing digital economy startups, says Stock Exchange of Thailand governor Prinn Panitchpakdi, who spoke to Bitsonline at the recent Beyond Blocks Summit Bangkok. Also see: How Thailand Is Staying Ahead…

EOS Community Is Challenged After Node Announces Financial Rewards for Votes

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This week, the EOS blockchain protocol angered decentralization proponents yet another time. Specifically, Starteos, one of EOS’ officially sanctioned Block Producers (BPs), appeared to publically offer its token holders financial rewards in return for their votes. Starteos’ vote-buying tendencies seem to fall in line with previous scandals centring around EOS: This year, the blockchain protocol reversed previously confirmed transactions and started an internal investigation after Huobi, its other BP, was accused of running a corruption scheme, among other things.   Brief introduction to EOS and its key features EOS.io is…

Binance Releases 2nd Decentralized Exchange Preview After Binance Chain News

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The world’s largest cryptocurrency exchange Binance revealed a second preview of its forthcoming decentralized exchange (DEX) in a video Dec. 4. Binance, which regularly tops global charts for the largest volume of cryptocurrency traded daily, released an initial sneak peak in August. The project is part of the wider Binance Chain initiative, through which executives plan to support “millions” of crypto assets. The latest preview included the unveiling of a fresh user interface, wallet and block explorer for DEX, developers confirming a testnet version would become available for prospective users…

Aion Token Project Estimates 18-Month Runway After Bitcoin and Ether Sales

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Cash is king – especially during a crypto winter. That’s the takeaway from a report out Wednesday from the Aion Foundation, which raised $23 million worth of bitcoin and ether through a token sale in October 2017. Compiled with the help of Deloitte, though not formally audited by the Big Four accounting firm, the report details how Aion has been managing its crypto war chest. According to Aion Foundation CEO Matt Spoke, the foundation has sold off half of the bitcoin and ether it raised for fiat. The sales were…

Crypto Lending Services Coming to Australian Markets

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Despite the ongoing bear market of 2018 crypto startups are still entering the market with new and innovative products. Australians are about to get their first taste of crypto lending services as a new company launched into the markets this week. Crypto Collateral Without Liquidation Helio Lending is the first independent crypto lending company to launch on Australian shores according to reports. Founder and Managing Director, John O’Shea, said he was excited to be entering such an untapped market with a huge growth potential; “Currently there are only two or…

Taking Social Trading to the Next Level: NAGA Integrates Binance

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BNB can now be used for trading over 800 financial instruments on NAGA Trader. NAGA, a $100M+ market cap German fintech company, publicly listed on the Frankfurt Stock Exchange, has announced the integration of Binance Coin – a token introduced by one of the largest cryptocurrency exchanges in the world – Binance. The new integration means Binance Coin (BNB) holders can now invest in over 800 financial instruments, from equities, cryptocurrencies, Forex, ETF CFDs, to gaming items through NAGA’s social trading platform, NAGA Trader, available for iOS, Android and Desktop…

Crypto Bull Jim Breyer: Crypto ‘Nuclear Winter’ is Just Short-term Market Movement

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Photo: Fortune Brainstorm TECH / Flickr Breyer kept saying that the technology is too big to be dismissed just because of a temporary bear market. He also warned that “we’re close to a nuclear winter right now with cryptocurrency.” Breyer noted that the current market situation is not rare at all. Such periods occur in cycles, and the current cycle will finally come to an end. While he also cautioned investors, stating that the “near future will be a slog for investors”, Breyer had plenty of advice to the rest…