Month: March 2019

Crypto Exchange Coinbene Announces Ongoing Maintenance While Customers Suspect Hack

boss

Cryptocurrency exchange Coinbene, ranked 16th on CoinMarketCap by adjusted volume, has announced it is undergoing maintenance on Tuesday, March 26, as the crypto industry discusses rumors that the exchange has been hacked. The official Twitter account of Coinbene Global, @CoinBene, has responded to a user nicknamed Crypto James, who claims that his deposits have been pending for an hour and insists the exchange has suffered a hack, as the maintenance had not been previously announced. Coinbene’s reply to his tweet reads: “In order to enhance the user experience, CoinBene upgraded…

Louis Vuitton, Christian Dior Owner Develops DLT Project With ConsenSys and Azure

boss

French luxury goods giant Moët Hennessy Louis Vuitton SE (LVMH) is reportedly working with ConsenSys and Microsoft Azure to develop a blockchain platform for tracking its products, crypto media agency CoinDesk reports on March 26. Dubbed AURA, the blockchain-powered platform is reportedly scheduled to go live in May or June 2019 with two major LVMH subsidiaries: Louis Vuitton and Parfums Christian Dior. Louis Vuitton is French fashion house founded in 1854 and known for its signature LV logo, while Parfums Christian Dior is the perfumery and cosmetics line of other…

Over 130-Year-Old Liquor Company William Grant & Sons to Track Whiskey on Blockchain

boss

Premium scotch whisky brand Ailsa Bay is reportedly about to release what it believes to be the world’s first scotch whisky tracked with a blockchain-based system. Liquor-related news website The Drinks Business reported on the development on March 26. Ailsa Bay is owned by William Grant & Sons (WG&S), a liquor company founded in 1887 that, according to Crunchbase, has a yearly revenue of about $80 million. Per the report, WG&S has partnered with blockchain company arc-net to develop the new products and a system that will track the complete…

Central Bank of Korea Includes Research on CBDCs in Annual Report

boss

South Korea’s central bank has included a summary of research on central bank digital currencies (CBDC) in its 2018 annual payment settlement report issued Tuesday, March 26. The development of distributed ledger technologies (DLT) and crypto assets has fueled a debate over CBDCs, especially after Uruguay and Tunisia issued their own, the report reads. The Korean central bank had also conducted its own research on CBDCs while it was considering launching one earlier in 2018 — an idea that was later put aside. The report included tests of blockchain-based solutions:…

E-Commerce Giant Rakuten Wins License for New Crypto Exchange

boss

Japan’s top financial watchdog has granted a license to a cryptocurrency exchange being relaunched by e-commerce giant Rakuten. The country’s Financial Service Agency (FSA) announced the news Monday, stating that the new exchange, Rakuten Wallet, is now registered with the Kanto Local Financial Bureau as a virtual currency exchange service provider under the country’s Payment Service Act. Rakuten also confirmed the news in a separate statement. Rakuten Wallet is a wholly-owned subsidiary of Rakuten and replaces an exchange called Everybody’s Bitcoin Inc. that it acquired for $2.4 million last August. The…

Platform Takes on YouTube and Spotify to Protect Copyright and Help Artists Make a Living

boss

A blockchain platform is enabling creators to share their music, videos and webtoons with the masses, all while ensuring that their copyright is protected. ContentsDeal says it aims to simplify the “complicated distribution structure” that is seen across the media world today, a structure which often means it can be difficult for talented artists to make a profit from their works. The company claims that an extensive range of Korean and global artists have gotten involved with its platform so far, delivering exclusive, limited-edition content to fans. Changing tune According…

Singapore Crypto Exchange DragonEx Hacked: Can Funds Be Recovered?

boss

DragonEx, a crypto exchange based in Singapore, said on Tuesday that its platform has been hacked and an undisclosed amount of user funds was lost. In its official Telegram account, the DragonEx team said that the exchange was hacked on March 24 and it alerted the authorities in Estonia, Thailand, Singapore, and Hong Kong. The team said: Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, HongKong etc. and we’re assisting policemen to do investigation. All platform services will be closed and the accurate assets…

Disgraced Ex-Enron CEO Plans Blockchain Comeback after 14-Yr Jail Term

boss

A little over a month after being released from prison for his involvement in one of the grandest corporate scandals in history, Jeffrey Skilling, the former chief executive of collapsed U.S. energy giant Enron is reportedly eyeing the blockchain sector, according to the Wall Street Journal report. The report adds that Skilling has met with ex-Enron executives as well as software developers and blockchain and cryptocurrency specialists. Per sources, the early-stage project is basically a digital platform which will connect investors to energy projects. One of the former Enron executives…

South Korean Messaging Giant Kakao, Irish Startup Partner for Blockchain Payment Methods

boss

Kakao Corp, a major Internet conglomerate and service provider for popular South Korean messaging app KakaoTalk, and an Ireland-based ticketing startup have signed a partnership agreement to develop a blockchain-based payment system. Irish business news outlet Fora reported on the partnership on March 23. The new partnership agreement will focus on applying the former’s blockchain platform technology Klaytn, the brainchild of Kakao subsidiary Ground X, to both a blockchain-based payment system and on analytics applications with Irish startup Festy. In mid-March, Ground X’s Klatyn announced that they had plans to…

This Bitcoin Bear Market Is The Best Yet

boss

As much as some like to sugarcoat it, the crypto market has lost 85% of its value since the jaw-dropping early-2018 peak. This collapse, which pushed Bitcoin from $20,000 to $4,000, has effectively stopped the cryptocurrency gravy train dead in its tracks. Gone are the days that “blockchain” was a popular word at the dinner table, as mainstream media outlets, the CNBC Fast Money segment, in particular, have slowed their coverage to a near-halt. More likely than not, retail investors, who know think Bitcoin is nothing but a distant memory,…