Day: July 16, 2019

Share Internet Data Launches Banking App in Tandem With LDJ Capital

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Internet crowdsourcing company Share Internet Data Ltd (SID) has partnered with private equity firm LDJ Capital to launch a blockchain-based digital banking solution. The new digital banking app is called LDJ Digital, according to a press release on July 16. According to the announcement, LDG Digital can function as a debit card and it supports both fiat money and cryptocurrencies. Moreover, the professed goal of LDJ Digital is to provide banking services to the unbanked, as per the report. LDJ Digital will reportedly be a part of the existing SID…

Bitcoin Below $10,000, Down 26.6% in 7 Days: What Caused the Pullback?

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Since July 10, the price of Bitcoin (BTC) has fallen from $13,200 to $9,684, with major cryptocurrency exchanges including Coinbase, recording a 26.6 percent drop within a period of seven days. The recent pullback of Bitcoin is widely believed to be technical that was pushed by sellers who took control of the market once the dominant crypto asset breached below key support levels in $11,000 and $10,700. BTC price visualization from Coin360 Alex Krüger, a global markets analyst, hinted that the criticism of bitcoin by U.S. President Donald Trump and…

Libra Rival Kin Savages Facebook’s Cryptocurrency

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The makers of Kik’s Kin cryptocurrency, which itself is no stranger to regulatory issues with the US government, do not feel one shred of sympathy for Facebook as Congress rakes Libra over the coals on Capitol Hill. The chat app, with its more than 300 million registered users, made waves during the 2017 gold rush when it held a nearly $100 million initial coin offering (ICO), only to have social media leviathan Facebook and its 2 billion users steal its thunder two years later. Look Who’s Talking Kin has run…

Libra Rival Kin Savages Facebook’s Cryptocurrency

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The makers of Kik’s Kin cryptocurrency, which itself is no stranger to regulatory issues with the US government, do not feel one shred of sympathy for Facebook as Congress rakes Libra over the coals on Capitol Hill. The chat app, with its more than 300 million registered users, made waves during the 2017 gold rush when it held a nearly $100 million initial coin offering (ICO), only to have social media leviathan Facebook and its 2 billion users steal its thunder two years later. Look Who’s Talking Kin has run…

Polkadot Introduces Its Experimental Version Dubbed ‘Kusama’

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Blockchain interoperability protocol Polkadot has introduced its “canary network” dubbed Kusama, which represents an experimental version of the protocol. In the blog post published on July 16, Polkadot presented an early, experimental version of the protocol called Kusama that is designed for real economic conditions. Kusama will purportedly enable developers to build and use a parachain or test Polkadot’s governance, staking, and other functions in a real environment. To “step into this unknown and see what chaos awaits” Gavin Wood, founder of Polkadot and associated Web3 Foundation, said in the…

US Rep. Kevin McCarthy Praises Bitcoin while Criticizing Libra

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United States house minority leader Kevin McCarthy praised Bitcoin (BTC) while criticizing Facebook’s Libra stablecoin during an interview with CNBC published on July 16. During the interview, McCarthy said: “I like Bitcoin. Is it where it needs to be? No, but the real thing I like when it comes to Bitcoin is blockchain, ‘cause I like the security. I want government to actually start using blockchain.” He also explained that his concern over technology companies joining finance is anticompetitiveness. McCarthy believes that companies entering the space are looking to create…

Senators not convinced after Facebook’s head of calibra hearing

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Facebook’s David Marcus, the man leading the development of Facebook’s new cryptocurrency wallet, Calibra, got some rough treatment in front of the Senate Banking Committee Tuesday morning. Numerous lawmakers from both sides of the aisle expressed deep reservations about entrusting a major financial platform to the social network, which by its own admission has a poor record on user privacy. “Look at Facebook’s record,” said the committee’s ranking Democrat, Sherrod Brown of Ohio. “We’d be crazy to give them a chance to let them experiment, to use powerful tools they…

A Security on Bitcoin’s Lightning Network Could Protect Users from Thieves

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In the last research report published on July 15, 2019, Bitmex analyzes the Bitcoin Lightning Network with respect to channel closure. The research is focused on a mechanism called “Justice Transactions” that punish dishonest parties and prevent them from stealing funds from other Lightning channels. According to the report, 241 Justice transactions were identified, representing 2.22 bitcoin in value, since the Lightning Network was launched at the end of 2017. Justice Has Been Served On July 15, 2019, Bitmex published its third report on the Lightning Network concerning channel closures and…

Bitpoint Hack Shows That Regulators’ Scrutiny Does Not Equal Safety

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On July 12, 2019, Tokyo-headquartered cryptocurrency exchange Bitpoint promptly suspended its services after noticing an error in the outgoing funds transfer system. Soon, an official announcement followed, revealing that the trading platform had lost around 3.5 billion yen (roughly $32 million) as a result of a security breach. The exchange’s administration has managed to find a portion of the missing funds since the initial announcement was published. Nevertheless, the security breach seems to continue the streak of hacks targeting Japan-based exchanges. Details of the hack According to the breakdown of…

Global Blockchain in Healthcare to Reach $1.7 billion by 2026

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The volume of blockchain in healthcare market worldwide is forecast to reach more than $1.7 billion by 2026. In a press release published on July 16, consulting services to information technologies firm Acumen Research and Consulting (ARC) has projected that the global blockchain in healthcare market on the global scale will reach over $1.7 billion by 2026, with a compound annual growth rate of 48.1%. Based on geography, America purportedly dominates with the largest share in the global blockchain in healthcare market, wherein the United States is a mature market…