Month: June 2019

Oxfam Trials Aid Distribution With DAI, Future Use ‘Highly Likely’

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Throughout May 2019, United Kingdom-based nonprofit organization Oxfam International executed a month-long trial that saw MakerDAO’s DAI stablecoin distributed as a means of exchange among citizens of Vanuatu. The Oxfam initiative, named UnBlocked Cash, was conducted in partnership with MakerDAO, ConsenSys and Australian tech startup Sempo. The Australian government also supported the program. Tsunamis, cyclones and volcanic eruptions comprise a constant concern for the citizens of Vanuatu, with WorldRiskReport describing it as the world’s most at-risk nation to natural disaster for five consecutive years. The month-long program saw 200 residents…

Oxfam Trials Aid Distribution With DAI, Future Use ‘Highly Likely’

boss

Throughout May 2019, United Kingdom-based nonprofit organization Oxfam International executed a month-long trial that saw MakerDAO’s DAI stablecoin distributed as a means of exchange among citizens of Vanuatu. The Oxfam initiative, named UnBlocked Cash, was conducted in partnership with MakerDAO, ConsenSys and Australian tech startup Sempo. The Australian government also supported the program. Tsunamis, cyclones and volcanic eruptions comprise a constant concern for the citizens of Vanuatu, with WorldRiskReport describing it as the world’s most at-risk nation to natural disaster for five consecutive years. The month-long program saw 200 residents…

‘Aggressive’ Central Banks Making Bitcoin More Attractive

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The potential interest rate cut by the United States central bank is apparently one of the reasons for the recent surge of bitcoin (BTC), Deutsche Bank exec Jim Reid said in an interview with CNBC on June 26. Reid, the head of global fundamental credit strategy at Deutsche Bank, stated: “if central banks are gonna be this aggressive, then alternative currencies do start to become a bit more attractive.” Reid referenced a recent speech by Fed’s chairman Jerome Powell, who said yesterday that the central bank is considering a cut…

Everything You Need To Know About Cryptocurrency Business In Hong Kong

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Hong Kong is one of the Asian countries that has shown openness towards development of the fintech industry in the country. Cryptocurrency and blockchains are benefiting from the favorable business regime and the number of start-up companies in this field has grown in the country in recent years. What makes Hong Kong stand out from other Asian countries is its favorable regulatory regime and its flexible policies for blockchain and cryptocurrency providers. Some of the crucial points that one needs to know about the cryptocurrency business in Hong Kong are…

Kraken CEO Sees Bitcoin Price at $100K-$1M as Bears Cry Correction

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The price of bitcoin on Wednesday came close to hitting the $13,000 level for the first time since January 2018. While the cryptocurrency could be on its way to reclaim its all-time high of $20,000, its wild bull run is also increasing the probability of an equally primitive bear correction. But that does not concern Jesse Powell of US-based cryptocurrency exchange, Kraken. The chief executive officer said today that he is not anchoring his thoughts on an imminent bitcoin correction. Instead, he is looking at a big picture, wherein the…

Cortex Launches Deep Learning and AI Network for Decentralized Apps

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Cortex has launched a network for decentralized apps powered by artificial intelligence (AI,) according to a news release published on June 26. The company claims this is the first time that AI has been introduced to a crypto network at scale. It is hoped the technology will be used to generate credit reports for the decentralized finance industry and facilitate anti-fraud reporting for exchanges — and Cortex believes the gaming and eSports sector could also benefit from a “diverse range of use cases.” Cortex CEO Ziqi Chen said: “In the near future, we expect to…

Bitcoin (BTC) Crosses $12,000; Market Dominance Hits Two-Year High at 62 Percent

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As Bitcoin (BTC) surged past $12,000 on the morning of June 26, 2019, the proportion of BTC to total cryptocurrency market capitalization rose to a two-year high of 61.9 percent.  Resurgence of Bitcoin The current bull cycle is continuing with extended upward waves with no end in sight. As reported by BTCManager, the current outlook for Bitcoin is vastly different from the previous bull market. Rather than retail hopium, this run is being driven by larger institutions operating in and around the space. Bitcoin’s ability to absorb capital far exceeds that…

Brave Teases Bitcoin Cash & New Crypto Funding for Browser Wallet

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Brave, the only notable browser with an associated Ethereum token, will soon support Bitcoin Cash and more. Co-founder and CEO Brendan Eich promised as much via Twitter. BCH and other funding choices coming in @Brave 0.68 (following up on https://t.co/XSSkZh1o2B). pic.twitter.com/KtZ6VwdVA2 — BrendanEich (@BrendanEich) June 22, 2019 Brave Expands Funding Options The funding option is apparently in demand, as Bitcoin Cash proponents want to see their choice everywhere Bitcoin is. Eich says it will be available in the upcoming 0.68 release. Eich had noted that BCH is coming in response…

Mt. Gox Founder Knew of Security Risks Years Before Collapse, Lawsuit Claims

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Mt. Gox founder Jed McCaleb is being sued by two traders who used the doomed exchange, court documents filed on May 19 show. Joseph Jones and Peter Steinmetz have accused the ex-CEO of fraudulently and negligently misrepresenting the exchange. The pair also allege that McCaleb was aware of “serious security risks” back in late 2010 or early 2011 — more than three years before 850,000 bitcoin (BTC) was stolen in an audacious hack. Their complaint adds: “Rather than secure the exchange, McCaleb sold a large portion of his interest in…

Why The Current Bitcoin (BTC) Recovery is 3x Faster Than Last Crypto Cycle

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Five months ago, no one expected that Bitcoin (BTC) would be past $10,000. But here we are, on the verge of a potentially shocking, jaw-dropping bull run, marked by parabolic increases in crypto assets across the board. Related Reading: Bitcoin: After Pushing Past $11k, Analysts Believe BTC Could Climb Significantly Higher; Here’s Why Since bottoming at $3,150, the leading cryptocurrency has gained 250%, outpacing any other asset class known to man. This massive upswing is, according to some analysts, coming to fruition at a record pace. Yassine Elmandjra, the resident…