Day: February 20, 2019

Bank of China Joins New Blockchain Platform for Property Buyers

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Property development firm New World Development and the Hong Kong Applied Science and Technology Research Institute (ASTRI) will jointly launch a blockchain platform for home buyers with the Bank of China reportedly being the first bank user. The news was announced by local news outlet the Standard on Feb. 20. The platform reportedly aims to replace paperwork operations — such as signing the Provisional Sale and Purchase Agreement or a mortgage application — with digital authorization. This will supposedly allow users to send the purchaser’s authorized, encrypted and digitally signed…

This Crypto Brokerage Lets You Escape to Fiat

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Europeans now have a new option to convert Bitcoin and other crypto assets into fiat without having to undergo identity verification. To make this possible, Swiss service Bity integrated with MyEtherWallet to enable the seamless transition of funds between MEW wallets and Bity accounts. Swiss Crypto Firm Sheds KYC Requirements for $5,000 Purchases Switzerland has gained a reputation as a haven for crypto firms. | Source: Shutterstock Bity supports movements of up to 5,000 CHF (roughly $5,000) without a KYC verification process. According to a press release, Bity is a totally…

Central Bank of Lithuania Issues Updated Position on Virtual Assets and ICOs

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The Bank of Lithuania has updated its position on virtual assets and initial coin offerings (ICOs), according to an announcement published on Feb. 14. The Bank of Lithuania initially issued a document detailing its position towards ICOs and digital currency in October, 2017, defining how and when virtual assets may be used for payment. The document also specified how and on what terms financial market participants (FMP) may establish investment funds for investment in virtual assets. The recent document reveals that the bank has not made changes to its underlying…

New Samsung Galaxy S10 Includes Cryptocurrency Key Storage

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The new Samsung smartphone, the Galaxy S10, will include storage for private cryptocurrency keys, according to an official press release on Feb. 20. Samsung announced the launch of its new phone today in Seoul, San Francisco and London, which includes the Samsung Knox function. Per the press release: “Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.” Ahead of the S10’s release, rumors abounded regarding the phone’s possible configuration and support for cryptocurrency…

A Beginner’s Guide To Cryptocurrency Mining

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A Beginner’s Guide To Cryptocurrency Mining February 20, 2019 by Priscilla Russell Cryptocurrency is considered one of the most popular forms of financial assets today. Many of these digital assets operate within blockchain technology which works as a digital ledger or tracker. This ledger is then duplicated in several computer networks for confirmation. To properly make use of crypto coins, certain people may need to mine crypto coins which helps verify numerous transaction resulting in increased security levels. This is a sponsored article To start, here are some facts you…

Crypto Entrepreneur: Every Day Bitcoin Doesn’t Die, Trust Is Gained

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Bitcoin Has Yet To Establish Public Trust Dominik Weil, an entrepreneur living in Vietnam, recently took to a local crypto conference to gain insight regarding attendees opinions on Bitcoin (BTC). According to Weil, who founded a number of Vietnamese cryptocurrency exchanges and startups, BTC has yet to garner notable amounts of public support. He claimed that when panelists asked the audience whether they would lock up $1 million in fiat/bank, Bitcoin, and gold, a resounding majority chose the far latter, “apart from one confused fiat maximalist.” Weil accentuated that while this shows…

Crypto Entrepreneur: Every Day Bitcoin Doesn’t Die, Trust Is Gained

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Bitcoin Has Yet To Establish Public Trust Dominik Weil, an entrepreneur living in Vietnam, recently took to a local crypto conference to gain insight regarding attendees opinions on Bitcoin (BTC). According to Weil, who founded a number of Vietnamese cryptocurrency exchanges and startups, BTC has yet to garner notable amounts of public support. He claimed that when panelists asked the audience whether they would lock up $1 million in fiat/bank, Bitcoin, and gold, a resounding majority chose the far latter, “apart from one confused fiat maximalist.” Weil accentuated that while this shows…

Crypto Investment Services Firm BitGo to Add Support for TRON

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Institutional-grade cryptocurrency investment services firm BitGo will provide wallet and custody support for cryptocurrency Tron (TRX), according to a press release shared with Cointelegraph on Feb. 20. Per the release, BitGo will add support for TRX later this year, making it available for institutional investors. TRX thus joins over 100 other digital currencies already supported by BitGo. BitGo is reportedly the world’s largest processor of on-chain Bitcoin (BTC) transactions, processing 15 percent of all global Bitcoin transactions and $15 billion of cryptocurrencies per month. The company’s wallet service has more…

Crypto News | Elon Musk Talks Bitcoin and Binance Expands

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The cryptocurrency market had quite the shakeup last week, causing a spike in most digital currencies. On Valentine’s Day, six days ago, JP Morgan announced that it would launch a test for its new JPM coin. This was the biggest crypto news to surface in quite some time. Now, digital currencies seem to have corrected, and most are trading red today. In today’s crypto news, we’ll discuss Elon Musk’s interview and the details behind him calling Bitcoin “quite brilliant.” Also, we’ll look into Binance’s new testnet they just released. Crypto News:…

Spanish Mining Startup to Return $68 Million Raised During ICO

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Spanish cryptocurrency mining startup CryptoSolarTech will return $68 million raised during its initial coin offering (ICO). A screenshot of an official letter sent to investors was posted on Twitter Wednesday, Feb. 20 by Spanish IT lawyer Sergio Carrasco. CryptoSolarTech apparently aimed to build a crypto mining facility powered by solar energy in Southern Spain, but failed to get a building permit. Citing reasons beyond their control, the founders of the project promised to return funds within 60 days. The startup also claimed that it is not responsible for any of…