Day: March 4, 2019

Developers Have Adopted Crypto En-Masse, What’s the Missing Piece?

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It isn’t a secret that Bitcoin has yet to see adoption. Few online merchants accept the cryptocurrency. And the same could be said for retailers and food establishments. But, over the past 24 months, the underlying industry tides have begun to shift in Bitcoin’s favor, as forward-thinking developers have started to flow into this space en-masse. A prominent venture capitalist claims that this should set the stage for BTC to garner traction with a mainstream audience. Developers Adopting Crypto Is Bullish Chris Burniske, a partner at Placeholder Ventures, noted that…

Russian Railways to Consider Blockchain Use for Users of Discounted Transport Services

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Russia’s national pension fund is settling an agreement with Russian Railways to use blockchain for tracking transport passengers that qualify for discounted services, Moscow-based news agency Rambler News Service (RNS) reports on March 1. Anton Drozdov, the head of the Pension Fund of the Russian Federation, revealed that the state-owned fund is expected to close the deal with Russian Railways, a government owned freight and passenger train services company, sometime in 2019. The new blockchain project intends to bring transparency to a system for monitoring users of discounted transport services,…

A New Exchange Launches, Letting Institutions Custody Their Own Crypto

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A new crypto exchange for institutional investors is launching this month with an unusual approach to custody. LGO Markets, based in Hoboken, New Jersey, officially launched Monday with limited functionality, allowing new users to set up and fund their accounts. However, spot trading in bitcoin will start on March 11. According to CEO Hugo Renaudin, the company has secured 10 institutional clients already – mostly over-the-counter (OTC) trading desks, plus several hedge funds, crypto businesses and market makers. Another 56 clients are in the process of onboarding, he said. The…

Indian Official Tries to Condemn Bitcoin by Calling it a Shiny Toy But Ends Up Praising It Instead

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An advocate practicing in the Supreme Court of India wants the government and regulators to treat bitcoin like a shiny new toy. Abraham C Mathews said in an opinion column published Monday that the Reserve Bank of India (RBI) had no structure in place to enforce crypto regulations – even if it wanted to. The lawyer reminded the central bank that it had no control over how the bitcoin technology functions. And even when it comes to protecting investors, RBI could not warrant users any safety, specifically in the event of…

Gulf Region’s Burgeoning Renewable Energy Sector Should Leverage Blockchain, Experts Argue

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Blockchain can make the infrastructure of new renewable energy markets across the Gulf Cooperation Council (GCC) more secure, resilient and cost-efficient, experts from United States-based tech consultancy firm Booz Allen Hamilton have said. Middle East business news site Al Bawaba reported the news on March 4. The GCC —  a regional political and economic union that includes all the Arab states of the Persian Gulf, except Iraq — reportedly aims to install 80 gigawatt (GW) of renewable energy capacity across its six member states by 2030, set to account for…

3% Bitcoin Price Drop Puts a Dent in Short-Term Bullish Outlook

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View Bitcoin’s drop to six-day lows below $3,700 has taken the shine off the bullish “long-tailed doji” created on Feb. 27. A bearish reversal would be confirmed if prices see a UTC close below $3,658 (low of long-tailed doji) and could yield a sell-off to recent lows near $3,300. A bearish move below $3,658, however, may not happen or could be short-lived, as a number of technical indicators on the weekly chart are flashing early signs of bullish reversal. On the higher side, a break above $3,897 – high of…

ICO statement on TPP SystmOne changes

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“The ICO has previously raised concerns around TPP’s SystmOne software and the ability of GP practice users, as data controllers, to comply with their obligations under data protection law to share personal data fairly, lawfully and appropriately. We issued an interim statement in August 2017, which highlighted discussions between the ICO, TPP, NHS Digital, NHS England, the British Medical Association and the Royal College of GPs, and as a result, work being carried out by TPP to develop functionality to address those concerns.  As a conclusion to this work, new…

Utah Senate to Debate Blockchain Task Force Creation and Business Incentives

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Utah became the latest United States state to consider special treatment for blockchain in a bill set to be heard today, March 4, concerning the definition of the technology. First presented by Republican senator Daniel Hemmert on Feb. 25, the “Blockchain Technology Act,” also known as Bill 0213, aims to exclude blockchain businesses from money transmitter compliance obligations. “This bill […] defines and clarifies terms related to blockchain technology [and] exempts a person who facilitates the creation, exchange, or sale of certain blockchain technology-related products from Title 7, Chapter 25,…

QuadrigaCX Wallets Found Empty, Mystery of $150 Million Missing Crypto Deepens

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The cold wallets of QuadrigaCX, once the largest crypto exchange of Canada, have reportedly been found to be empty. According to Bloomberg, most of the Bitcoin funds from the exchange’s cold wallets were moved out in April 2018, more than 9 months before QuadrigaCX revealed it had lost $150 million in customer funds after its CEO Gerald Cotten passed away with sole control of the company’s wallets. Ernst & Young, a big four auditor tasked as the monitor of QuadrigaCX, found six cold wallets of the exchange used to store…

Company Sets Up Bitcoin ATM in Botswana

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Express Minds Ltd has set up a bitcoin automated teller machine (BATM) in Gaborone, Botswana, increasing the number of the machines on the continent to 10. The fiat-to-crypto machine allows users to purchase bitcoin by scanning a QR code for their wallet address, feed money into the machine and get the crypto equivalent automatically assigned to their wallets. Also read: Quadriga’s 6 Cold Wallets Have Been Without Funds Since April 2018 ATM to Improve Cryptocurrency Uptake The local tech company expects its machine, located at a large mall in the…