January 11, 2019

Pakistan Uses Blockchain Developed by $150B Alipay, But No Bitcoin

January 11, 2019 boss

The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central banks and large financial institutions. Blockchain Not Bitcoin Several months ago, Pakistan established a partnership with Telenor Microfinance Bank, a financial institution owned and operated by Alipay, a $150 billion fintech giant based in China…

Japanese Regulators Grant Cryptocurrency Exchange License to Coincheck

January 11, 2019 boss

Japan’s finance regulator, the Financial Services Agency (FSA), has granted full permission for cryptocurrency exchange Coincheck to continue operating in the country. Cointelegraph Japan reported on the development on Jan. 11, quoting an official communique. Coincheck, which was hacked in January 2018, losing altcoin tokens worth $530 million at the time, now joins the slowly increasing number of officially sanctioned exchanges serving the Japanese market. The step is a milestone for the exchange and for online broker Monex Group, which bought Coincheck for a nominal $33.5 million in April. Since…

Pakistan Taps Blockchain Developed by $150B Alipay, But Forbids Bitcoin

January 11, 2019 boss

Crypto Hedge Fund Manager Disputes Augur Metrics of $2 Mln, Claims Only $100,000 at Stake

January 11, 2019 boss

Blockchain-based prediction market Augur is reportedly significantly overestimating its usage, a founding partner of cryptocurrency hedge fund Tetras Capital claimed on social media on Jan. 10. The latest criticism of the project, Alex Sunnarborg took Augur to task following publication of its most recent weekly report showing the amount of money circulating within its markets. Specifically, the report claims around $2 million is currently involved in wagers set up by users. Sunnarborg, however, notes the figure includes wagers which have already closed. “Augur metrics showing ~$2 (million) ‘total money at…

VeriBlock is Entirely Built on Bitcoin’s OP_RETURN

January 11, 2019 boss

Bitcoin enables 80 bytes of Arbitrary data to be included on its blockchain. VeriBlock, a new startup trying to develop the OP_RETURN command has now started a debate where it argues that this additional space can be used without being considered as spam. VeriBlock is a new company that is trying to leverage OP_RETURN. The startup has motivated a series of debates on how these 80 bytes could be used without being considered spam transactions. An old debate The discussion around how Bitcoin could be used as a database is…

VeriBlock is Entirely Built on Bitcoin’s OP_RETURN

January 11, 2019 boss

ICO calls for nominations for the second Practitioner Award for Excellence in Data Protection

January 11, 2019 boss

The Information Commissioner is calling for nominations for the second Practitioner Award for Excellence in Data Protection, to recognise those practitioners who go above and beyond when it comes to implementing data protection in practice. Recognising the increasingly vital role played by data protection professionals, the Commissioner says that 2018 was the year that privacy and data security went mainstream. This included a once-in-a-generation reform of data protection laws, high-profile public debates about the use of personal data, and people increasingly exercising their rights. Privacy rights remain in the international…

China to Enforce Regulation for Blockchain Companies in February

January 11, 2019 boss

China’s internet regulator, the Cyberspace Administration of China(CAC) in a detailed document outlined a final draft of regulations concerning cryptocurrency and blockchain companies. The rules will come into effect starting February 19, and provide a set of guidelines that blockchain companies are required to follow. According to the CAC’s director: The Regulations on the Management of Blockchain Information Services has been reviewed and approved by the Office of the Internet Information Office of the State Council and is herebypromulgated and will be implemented as of February 15, 2019. According to…

South Korea Government Approves Seven out of 21 Cryptocurrency Exchanges’ Security Policy

January 11, 2019 boss

Some of South Korea’s biggest cryptocurrency exchanges have passed a government security audit, but the majority could be exposed to attacks, local tech news outlet ZDNet reported on Jan 10. Bithumb, Coinone and Korbit, in addition to four other major exchanges, satisfied investigators during the audit, which took place between September and December 2018. Of the tranche of 21 platforms involved, however, the remaining 14 failed to meet the criteria for suitable security procedures. South Korea previously had one of the world’s most active cryptocurrency trading economies before regulatory upheaval…

SOV Assets like Bitcoin will Become Much Larger: Jeremy Allaire

January 11, 2019 boss

Bitcoin price has lost more than 9 percent of its value in the past 24 hours. But according to Jeremy Allaire, the cryptocurrency is a winner in the long term. The Circle CEO said Thursday during a Reddit AMA that bitcoin would become more significant as a store of value than as a payment and settlement protocol. He predicted that there would be millions of different crypto assets in the future and each one of them will serve a specific purpose. Fiat currency assets and stablecoins, for instance, will be…