Day: March 8, 2019

Ethereum Creator Vitalik Buterin Proposes Wallet Fee to Fund Developers

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Vitalik Buterin, the creator of the ethereum blockchain project, has proposed increasing user fees on the network for the purposes of supporting developers with sustainable funding. “I propose we consider supporting a community norm that client [and] wallet [developers] can [and] should charge a 1 gwei/gas fee for [transactions] sent through their wallet,” tweeted Buterin Friday. Gas fees denominated in gwei are payments made by the user to compensate for the computational energy required to process and validate transactions on the ethereum blockchain. Suggesting that a flat, “one-off” payment of 1…

US State of Connecticut Introduces Bill to Authorize Smart Contract Use in Commerce

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A committee of the Connecticut state legislature has proposed to authorize the use of smart contracts in commerce in the state, according to official documentation introduced on March 7. The Commerce Committee of the Connecticut General Assembly (CGA) has introduced House Bill 7310, suggesting that blockchain-powered smart contracts may be used in commerce conducted or initiated in the United States state of Connecticut. The committee elaborated that any cryptographic signature or a record secured through distributed ledger technology (DLT) should be considered to be in an electronic form and an…

Swissquote Banking Group to Launch Crypto Custody in Late March

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Swiss banking group Swissquote has revealed its plans to launch crypto custody services in late March, according to the company’s 2018 business results report, published on March 8.   According to the report, the company has been trading five major cryptocurrencies since 2017 and is now introducing a crypto custody service. The new feature is set to launch on March 21. According to the report, customers will be able to transfer crypto from external wallet to their account at Swissquote and vice versa. As the document the states, the move…

No, Bitcoin (BTC) is Not a Quick Rich Scheme, Price Approaching $4,000

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Bitcoin prices up 1.6 percent FCA Research paints crypto-asset owners as greedy Transaction volumes low, drive above $4,500 must be high-volume. The UK’s FCA research concludes that Bitcoin (BTC) and crypto-asset investors are here for the money. Meanwhile, prices are stagnant, and as accumulation continues, the next feasible target will be $4,500. Bitcoin Price Analysis Fundamentals The open source nature of blockchain projects means anyone can plug in, mine, contribute code or do whatever they wish for the sole to strengthen the network. Unfortunately, this is also an open door…

‘Cryptocurrency as a Technology Has Absolutely No Basis for Success’

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Economist and notorious cryptocurrency critic Nouriel Roubini has claimed that crypto “as a technology has absolutely no basis for success.” Roubini delivered his new anti-crypto arguments in an interview with the CFA Institute on March 6. In conversation with the global professional investor association, Roubini, a New-York-based economist who famously predicted the 2008 financial crisis, has once again reiterated his negative stance towards the crypto and blockchain space. The prominent economist stated that the entire crypto industry consists of assets that are neither money nor currency. He stressed that cryptocurrencies…

Cardano 1.5 Means Project Shelly, Will ADA Prices Respond?

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Cardano price stable but bullish Development and consequent release of Cardano 1.5 test-net positive Average volumes low, pumps must be accompanied by volumes above 210 million Project Shelly is on the horizon thanks to Cardano 1.5. That means an improved consensus protocol that could possibly drive Cardano (ADA) above 4.5 cents towards 6 cents. Cardano Price Analysis Fundamentals That Cardano is special is true. The evidence is littered all over the inter-webs, and as they continue to research, their priority is not on speed but quality. While they admit that…

Bitcoin’s Impending ‘Halving’ Could Spark Meteoric Price Boom

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Alistair Milne, the chief investment officer at Atlanta Digital Currency Fund, has said that the block reward halving of Bitcoin could push the price of the dominant cryptocurrency to massive gains in the next 12 months. Why Block Reward Halving is a Fundamental Driver of Bitcoin Price The Bitcoin price should receive a major boost from the halving next year. | Source: Yahoo Finance A block reward halving in Bitcoin is referred to as the mechanism that decreases the amount of Bitcoin generated by miners after mining a block. On…

Crypto Industry Trade Group JCBA Issues Guidelines for ICO Regulation

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In order to promote domestic blockchain and  cryptocurrency-related businesses, the Japan Cryptocurrency Business Association (JCBA) has published its “Recommendations on New ICO Regulation” on Friday, March 8. The recommendations on Initial Coin Offerings (ICOs) regulations issued by the JCBA — a local industry trade group — focus on three main topics: the expansion of cryptocurrency in Japanese domestic exchanges, as well as the definitions of and regulations for utility tokens and security tokens. The proposed regulations suggest distinguishing between security and utility tokens and making the former subject to the Financial…

Germany Proposes Launching State-Run Electronic Register for Blockchain Sector

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Germany’s justice and finance ministries have proposed to launch a state-run register to boost the use of blockchain, Reuters reports on Friday, March 8. According to the Reuters, the seven-page initial guidelines offer to create a register to regulate the sector and protect investors from possible abuses. The document reportedly states that regulation in the sphere could contribute to the development of the technology behind cryptocurrencies, along with enhancing Germany’s position in financial markets. The guidelines also propose easing existing requirements, which assume that financial instruments must have tangible counterparts…

Germany proposes register for blockchain and other electronic securities

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Germany is proposing to boost the use of blockchain technology and other electronic instruments by setting up a government-run electronic register to regulate the sector and protect investors, according to initial guidelines released on Friday. In a seven-page paper, Germany’s justice and finance ministries mapped out plans to prevent abuses and protect investors, while facilitating the potential of the technology that underpins cryptocurrencies, and strengthening Germany’s role in digitalisation and financial technology. It is a first step toward development of a blockchain strategy, as agreed by Chancellor Angela Merkel’s conservatives…