Day: April 24, 2019

Tron CEO Justin Sun Hints at Partnership With Liverpool FC

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The Tron Foundation, the firm behind the 11th biggest cryptocurrency Tron (TRON), will reportedly partner with British professional football club Liverpool, Tron CEO Justin Sun revealed in a tweet on April 24. While Sun did not include any specific details about the nature of the upcoming partnership, the tweet features a short video invitation from Liverpool Football Club (LFC), with the Tron logo appearing in the video. The Tron CEO claimed that he is looking forward to explore this new partnership, adding that it is an official partnership and that…

China’s Forex Regulator Develops Blockchain Trade Finance Solution Pilot

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China’s foreign exchange reserve regulator, the State Administration of Foreign Exchange (SAFE), is set to pilot a cross-border trade finance blockchain platform. The news was reported by local financial news agency CNStock on April 24. According to the report, the development of the platform was initiated by SAFE and completed in collaboration with the Hangzhou Blockchain Technology Research Institute. The latter, also known as China Banknote Blockchain Technology Research Institute, has reportedly completed the technical undertaking of the project under the China Banknote Printing and Minting Corporation, which is directly…

Thailand’s Largest Commercial Bank and State Oil Company Trial Blockchain Payments

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Thailand’s largest commercial bank, Siam Commercial Bank (SCB), and state oil company PTT Exploration and Production Public Company Limited (PTTEP) performed a successful test of blockchain use for cross-border business-to-business payments. The bank recently announced the successful pilot on its website. Per the announcement, the project, which has been ongoing since mid-2018, aims to optimize operational efficiency. The bank claims that earlier this year, it has successfully carried out payments on blockchain within one minute. The post also points out that conventional methods require a wait of one to two…

Blockchain Intelligence Firm Chainalysis Expands Monitoring Tools to Cover 10 Cryptos

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New York-based blockchain compliance firm Chainalysis has expanded its real-time transaction monitoring tools to cover a total of 10 cryptocurrencies, Reuters reported on April 24. Chainalysis is one of the highest-profile players in the blockchain intelligence industry, providing technology — such as its proprietary KYT (Know Your Transaction) tool — that enables firms, governments and law enforcement agencies to track the flow of cryptocurrencies on the blockchain and track suspected illicit transactions, helping to uncover money laundering or terrorism financing. The firm has reportedly issued a statement outlining that its…

Telecoms Giant NTT’s Thai Unit Plans to Launch Blockchain, AI, IOT Innovation Lab

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Telecoms giant NTT Corporation’s Thai subsidiary plans to launch a major innovation lab focused on blockchain, artificial intelligence and internet of things technology. Thai English-language newspaper the Bangkok Post reported on the development on April 23. NTT Communications (NTT Com) Thailand is the local operating unit of NTT Com Group, a subsidiary of Nippon Telegraph and Telephone (NTT) Corporation — Japan’s largest telecoms firm and the world’s third-largest telecoms firm by revenue. According to the Bangkok Post, the new lab is slated for launch in the second quarter of 2019,…

Japan Regulator Surprises Crypto Exchanges with Sudden On-Site Inspections

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Japan’s Financial Services Agency (FSA) has reportedly carried out unscheduled onsite inspections at cryptocurrency exchanges Huobi Japan and Fisco Digital Asset Group(FDAG). According to Reuters, the inspection is taking place so that the regulatory body can find out if the exchanges have been taking adequate steps to protect their customers, as well as to check for legal compliance. The report state that the FSA believes that both exchanges currently are not taking the required actions to adequately protect customers and abide by the regulator’s AML requirements. The inspection could potentially…

John McAfee Pauses Plan to Out Satoshi Nakomoto’s Identity, Fearing Lawsuit

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American entrepreneur and stalwart crypto advocate John McAfee says he is holding back on plans to reveal the real identity of bitcoin (BTC) creator Satoshi Nakamoto, for fear it will expose him to further lawsuits as he fights potential extradition to the United States. The news was reported by Bloomberg on April 24. McAfee — who founded the pioneering anti-virus firm McAfee Associates in 1987 — claims his technology expertise has helped him track down the real Satoshi. According to Bloomberg, McAfee said he had communicated with Nakamoto in recent…

What We Are Getting Wrong and How to Fix It

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Tim Robustelli is a Program Associate with the Future of Property Rights Program at New America, a think tank based in Washington, D.C. The flurry of activity related to blockchain-for-land over the past few years is impressive, with a number of firms working with land registries worldwide. Yet, skepticism is growing around the technology’s potential for land administration due to the fitful growth of various pilots. Some projects, notably those in Georgia and Dubai, do continue to grow. But other blockchain-for-land efforts — such as those in Vermont, Brazil and…

Disney Considers $13.2 Billion Equity Deal With Stake in Korbit, Bitstamp

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Two major cryptocurrency exchanges could soon have Walt Disney Corp. as their owner if a $13 billion equity deal goes through, South Korean English-language daily news outlet The Korea Herald reported on April 17. Citing a banking industry source speaking to another publication, JoongAng Ilbo, The Korea  Herald revealed the chairman of online gaming giant NXC Corporation, Jung-ju Kim, plans to sell his 98.6% stake in the company. NXC owns 47% of Nexon, South Korea’s largest game developer, which in turn has stakes in South Korean exchange Korbit and European…