Day: July 22, 2019

How Big Hydro Power Partners With Bitcoin Miners to Prevent Energy Waste

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We are often told that the verification of bitcoin transactions eats a lot of energy. The largely inaccurate comparison to a small country, the size of Ireland or Denmark, is evoked thanks to numerous clickbait headlines. What mainstream media fails to explain, however, is that bitcoin mining is actually helping electricity producers prevent energy waste. Hydropower plants, for example, can generate and sell much more electricity during rainy seasons in some regions or when snow melts in others. Wastage can be mitigated through a symbiosis with bitcoin farms, at no…

‘Open to Massive Fraud’ — British MP Wants to Probe Facebook’s Libra

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Damian Collins, a senior official at the British Parliament and known critic of Facebook, wants to probe the firm’s crypto project Libra. Damian Collins says Libra is going to be open to massive fraud  Collins, chairman of the British Parliament’s Digital, Culture, Media and Sport Committee, who led an 18-month investigation into the company following the Cambridge Analytica data scandal, reiterated his negative stance to Facebook in an interview with Financial News, a London-focused financial news outlet, on July 22. A Member of Parliament (MP) at the lower house of…

Fidelity’s Digital Assets Department Seeks New York State’s Trust License

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Several financial companies are jumping on the crypto bang wagon for some promising reasons. Fidelity, an American multinational financial services corporation based in Boston, has launched its digital assets arm, Fidelity Digital Assets Services (FDAS) back in October 2018 to offer crypto-custody services to large size institutions and organizations. Fidelity has recently filed to secure New York trust license which will enable the firm to serve its clients in New York in all sorts of crypto businesses. Digging deeper into the matter, sources familiar with the matter told the digital…

Chinese Government Blockchain Standardized Certification Received by Lenovo, Alipay, and Aelf

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While most governments around the world are guarded against the challenge of cryptocurrencies and blockchain technology, surprisingly, the Chinese Government, though vehemently against cryptocurrencies, regards Blockchain technology with a positive view. Since 2017, the China Electronics Technology Standardization Institute (CESI) has been conducting Standard Blockchain System Function Test in order to pressure test and certify the top blockchain projects operating in China. Since inception, the organization has certified only 30 projects globally, including Lenovo, Alipay, and most recently, Aelf. advertisement At the launching ceremony and the first academic seminar of…

Mercedes Parent Firm is Building a Crypto Hardware Wallet for Cars

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Daimler, the German multinational corporation behind the Mercedes-Benz brand, partnered with European blockchain interface solutions startup Riddle & Code to provide an open car hardware wallet solution, the startup announced in a press release published on July 22. ‘Turn automobiles into future market places’ Per the release, car wallets have a wide variety of use cases, such as car-sharing, autonomous vehicles, real-time exchange of secure traffic data and with smart city environments to reduce congestion and lower insurance premiums. The startup’s CEO Tom Fürstner declared: “Autonomous cars must behave consistently…

Fiat Money is Used 800 Times More than Bitcoin for Money Laundering: Report

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The report from the United Nations Office and Chainalysis on Drugs and Crime reveals that fiat currency is utilized 800 times more to launder cash on the darknet than Bitcoin. The research forces crypto critics back to the drawing board to brainstorm on another lie. Bitcoin (BTC) is clean, pure, and free from all the financial threats as purported by some critics; this is according to the recent research published by Messari. The research was inspired by the recent statements by Steven Mnuchin, U.S. Treasury Secretary. The results from the…

Watch Out Ripple, SWIFT Says Its Fastest Remittance is Down to 13 Secs

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The Society for Worldwide Interbank Financial Telecommunications (SWIFT) announced a successful trial of instant cross-border transfers in Asia in a press release published on July 18. Per the release, the trial performed instant payments between 17 banks located in Australia, China, Canada, Luxembourg, The Netherlands, Singapore, and Thailand, taking up to 25 seconds, with the fastest taking 13 seconds.  The tests involved communication between SWIFT’s Global Payments Innovation (GPI) instant payment platform and Singapore’s domestic instant payments solution, FAST. SWIFT also explains that its GPI instant system uses existing payments…

Post-Halving Bitcoin to Hit $100,000 in 2020? It’s Unlikely, Data Shows

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In around 300 days, Bitcoin (BTC) will experience what is known as a “halving” or “halvening”. This event, which occurs in predictable four-year cycles, sees the amount of the cryptocurrency issued every ten minutes halve, this time from 12.5 coins to 6.25 coins per block. Related Reading: Bitcoin Bears Ramp Up Selling Pressure as Weekly Close Looms; Factors & Trends This is Bitcoin’s monetary policy, which is practically set in stone due to the consensus mechanisms that Satoshi Nakamoto implemented into his brainchild. While the halving may seem mundane, with…

Post-Halving Bitcoin to Hit $100,000 in 2020? It’s Unlikely, Data Shows

boss

In around 300 days, Bitcoin (BTC) will experience what is known as a “halving” or “halvening”. This event, which occurs in predictable four-year cycles, sees the amount of the cryptocurrency issued every ten minutes halve, this time from 12.5 coins to 6.25 coins per block. Related Reading: Bitcoin Bears Ramp Up Selling Pressure as Weekly Close Looms; Factors & Trends This is Bitcoin’s monetary policy, which is practically set in stone due to the consensus mechanisms that Satoshi Nakamoto implemented into his brainchild. While the halving may seem mundane, with…

Bakkt’s Bitcoin Futures Finally Put to the Test

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After many delays and uncertainty, finally, Bakkt’s Bitcoin Futures launched the user acceptance tests. The mission is to support the development of trusted infrastructure for securely transacting in the new market for digital assets. After much delaying, ICE’s Bakkt platform finally started testing its Bitcoin Futures today. Bakkt has been working on its Bitcoin Futures contracts for almost a year and investors had been eager for its entry in the crypto market to happen. From the company they tweeted: Today kicks off user acceptance testing @ICE_Markets for the Bakkt Bitcoin…