Day: June 24, 2019

Korean Crypto Exchanges Face Backlash, Could it Stunt Bitcoin’s Run?

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According to Business Korea, hundreds of minor crypto exchanges in South Korea could run smack into heightened scrutiny for failing to abide by proposed enhanced know-your-customer (KYC) regulations, which would require exchanges to only provide services to users with “real-name accounts” issued by local financial institutions. Earlier this month, the Financial Action Task Force, an intergovernmental organization under the G7, proposed guidelines that encourage all crypto exchanges to share customer data. Although industry executives and experts have indicated that the ruling of the FATF is highly impractical and may be…

Bitcoin Cash Shows Phenomenal Growth in the First Two Quarters of 2019

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The second quarter of 2019 is coming to an end and the Bitcoin Cash (BCH) network and markets have had an extraordinary year so far. BCH prices touched a high of $522 per coin on Sunday and at the current price of $470 per coin on June 24 BCH is up by a whopping 213%. Moreover, the network and infrastructure have grown stronger since the November 2018 split and the Bitcoin Cash network looks poised to jump to the next level. Also read: BCH Development Fund Doubles Its Goal After…

Canadian Blockchain Company Signs Contract with Seoul Ministry of Transportation

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Canadian tech firm Graph Blockchain Inc. has partnered with the Ministry of Transportation in Seoul, South Korea, to run a pilot program for blockchain-based traffic data storage, according to a news release on June 24. Graph Blockchain reportedly signed a contract for around $55,000 CAD, or approximately $41,695 at press time, to run this pilot program as part of the “Smart City initiative.”  According to the CEO of Graph Blockchain, Jeff Stevens, the company intends to use its blockchain solution to “streamline and protect” traffic data. Graph Blockchain purportedly uses…

Former Trump Economic Adviser Expresses Support For Facebook’s Libra

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A former economic adviser to United States President Donald Trump has expressed support for Facebook’s stablecoin Libra, Yahoo Finance reported on June 24. In an interview with Yahoo Finance, conservative economist and fellow at The Heritage Foundation Stephen Moore said that he thinks “on balance it is a good thing [Libra].” Moore stated: “It’s interesting, because this [Libra] represents a new challenge for central bankers that they now have competition from private currencies. Ethereum co-founder Joseph Lubin, by contrast, said that Facebook’s Libra token is like “a centralized wolf in…

Every Rent Contract to Be Registered on the Blockchain

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The Prime Minister of Malta, Joseph Muscat, has announced that the island nation’s upcoming rent law reforms will require all tenancy contracts to be registered on the blockchain. According to Malta Today, Muscat stated: “Every rent contract in Malta will be registered. The system we will be using to register the contracts is blockchain – distributed ledger technology.” Blockchain Technology Will Make Rent Contracts Tamper-Proof According to Muscat, this will protect the tenancy agreements from being tampered with. Muscat also hinted that the island nation of slightly under half a…

Facebook Wasting No Time Developing Recently Announced Libra Coin

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Last week, the world received highly anticipated news. After the story circulated through the media ranks for months, Facebook finally confirmed it. Yes, the social media giant has moved into the crypto market, rolling out a cryptocurrency called the Libra coin. While a new venture for the company, Facebook is wasting no time jumping in. Here’s the latest happening with Facebook and the Libra coin. Facebook’s Libra Coin Needs Data Engineers This week, Facebook posted a job description indicating that it’s looking for a data engineer to work at Calibra wallet,…

Future for State-Backed Brazilian Token Issuance Unclear as Bank Sees Leadership Reshuffle

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On June 18, Brazil’s National Bank for Economic and Social Development (BNDES) announced the election of Finance Director José Flavio Ferreira Ramos as its interim president.  Ramos will serve as the BNDES head until the inauguration of 38-year-old Gustavo Henrique Moreira Montezano, a former economist and the current deputy secretary of privatization and disinvestment.  Montezano’s appointment followed two meetings on June 17 between Brazilian President Jair Bolsonaro and the country’s minister of the economy and former economic advisor to Bolsonaro’s presidential campaign, Paulo Guedes. The meetings were held in response…

Malta to Register All Property Rental Contracts on Blockchain

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In Malta, new rules will require that all property rental contracts be registered on a blockchain for security considerations, local news outlet Malta Today reported on June 23. Malta’s Prime Minister, Joseph Muscat said that the cabinet approved new regulations, which will be announced over the coming days, that require rent contracts be registered on a blockchain to protect them from tampering and ensure authorized access. Muscat said: “We will now be showing people the added value of this technology through applying it to something which they will use in…

Ethereum’s Vitalik Buterin Takes on the Crypto Twitter Shills

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The euphoria that followed the bitcoin price’s climb to a new 2019 high above $11,000 couldn’t last forever, and it wasn’t long before some low-volume drama broke out over the weekend on Crypto Twitter. Seemingly apropos of nothing, Dan Held (@danhedl), a pal of Anthony Pampliano and legend of Bitcoin Twitter, reminded everyone that Ethereum mastermind Vitalik Buterin had once tried to raise money to build a quantum computer for Bitcoin mining. Vitalik Buterin’s Quantum Bitcoin Mining Ambitions Buterin retorted that he was not trying to raise funds for a…

Bitcoin (BTC) At 2019 Highs, Is It Because of The FED’s Dovish Stance?

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Bitcoin (BTC) prints double-digit gains Central banks could slash interest rates to avert a global recession, boosting risk assets in the short term & safe havens in the long term  Perhaps in anticipation of an economic slowdown and central banks intervening by cutting rates, data suggests fund managers are shifting capital to Bitcoin. In the last week, BTC is up 21.9 percent and likely to surge to $15,000. Bitcoin Price Analysis Fundamentals At 2019 highs, the world’s most valuable asset now has the attention of the general public. With this…