Day: July 25, 2019

Patent Trolling or Hedging Risks?

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Earlier this week, Bank of America (BofA), one the United States’ largest financial institutions, made a massive splash in the crypto sphere as the details of its recently registered patent, entitled “Real-Time Net Settlement by Distributed Ledger System” and citing the Ripple blockchain, emerged in the press. Even though the extent and exact character of the proposed system’s reliance on Ripple is impossible to determine from the filing, the community of XRP holders and supporters rejoiced. A piquant nuance is that the XRP token itself was never mentioned in documentation, suggesting a…

Venezuelan Government Accused of Using Bitcoin to Bypass US Sanctions

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Nicolás Maduro and the United Socialist Party of Venezuela have been accused of circumventing financial blockades imposed by the U.S. government. According to local reports, Maduro’s regime evades sanctions with cryptocurrency alongside an airline application called Jetman Pay. Allegedly, Jetman Pay collects airline taxes from travelers who purchase tickets from Maiquetía International Airport and the Venezuelan government agency Sunacrip converts the tax money into BTC and sends the funds to regime accounts in Russia, China, and Bulgaria. Also Read: Another Self-Proclaimed Satoshi Appears in the High Profile Bitcoin Lawsuit As…

African Country Turns to Blockchain to Stem Deadly Fake Drug Epidemic

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Uganda, an African country where thousands are dying each year due to counterfeit medicine, wants to put an end to its fake drugs epidemic by utilizing the blockchain. Putting an End to a Deadly Disease Fake drug counterfeiters cause as many as 158,000 people to die in sub-Saharan Africa each year in a $200 billion worldwide market. They produce look-alike medicine that contains little-to-no active ingredients as well as harmful elements, WeeTracker reported. Africa is more exposed to the counterfeit drugs epidemic than other continents as it lacks the technical…

Crypto Exchanges Dragged Into Major Anti-Corruption Case

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Four individuals allegedly involved in hacking the cell phones of Brazil’s Justice Minister Sergio Moro regularly used Bitcoin (BTC) and other cryptocurrencies, Cointelegraph Brazil reported on July 25. On July 23, the Federal Police of Brazil arrested four individuals who allegedly hacked Moro’s cell phones while he was acting as a judge in the Operation Car Wash case involving former President Luiz Inácio Lula da Silva.   Operation Car Wash is a major criminal money laundering investigation initiated by Moro, which further expanded to allegations of corruption at major Brailizan petroleum…

Leading European Airline to Accept Bitcoin Payments

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Norwegian Air Shuttle will begin accepting Bitcoin payments later this year thanks to the close relationship with leading national exchange NBX. This according to news released by Dagens Næringsliv, July 25. Flying with Bitcoin Norwegian Air Shuttle, one of the leading European airlines and the third largest low-cost airline, is willing to accept bitcoin payments very soon. Before proceeding with the Bitcoin integration, Norwegian Air Shuttle is awaiting the launch of the Norwegian Block Exchange (NBX), which is scheduled for August. It’s worth noting that the exchange will be launched…

Tron Saga Takes Curious Turn as Justin Sun Faces New Allegation

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The Tron saga took another curious turn on Thursday, as Bram Cohen – the creator of BitTorrent – alleged that Justin Sun failed to make a scheduled payment stemming from his purchase of BitTorrent last year. Bram Cohen: Is Justin Sun ‘Hard Up for Cash?’ Writing on Twitter, Cohen – who is no longer affiliated with BitTorrent but operates another cryptocurrency project – claimed that Sun “isn’t letting the last payment for BitTorrent get out of escrow.” “My source for this is that I don’t have the f**king money and…

Facebook to Work ‘However Long It Takes’ to Win Regulators on Libra

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Facebook co-founder and CEO Mark Zuckerberg said that the company will work as long as it takes to appease regulators’ concerns over its Libra stablecoin. Zuckerberg delivered his statements during the firms Q2 results conference call on July 24. During the call, Zuckerberg said that — some years ago — Facebook would have just released a new product without prior warning, but now the company has changed. More precisely, he stated: “We’ve opened a period of – however long it takes to address regulators and different experts and constituents’ questions…

Ethereum (ETH) Prices Back to Green, Surge 7% in 24 Hours

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Ethereum (ETH) adds 7.6 percent Facebook’s Libra is more popular than ETH An independent research from eToro reveals that investors are more aware of Libra, a Facebook stablecoin set for launch in 2020, than Ethereum (ETH). Meanwhile, ETH is back to green, adding 7.6 percent in 24 hours Ethereum Price Analysis Fundamentals The discourse around Facebook’s Libra, a centralized stablecoin, is at fever-pitch. Unfortunately, the consensus is not favorable for the global stablecoin. Facebook has a bad track record on privacy. Worse, their foray into finance is agitating Congress. Visibly,…

Cardano Could Skyrocket Against a Weakening Bitcoin

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If you’ve been watching the cryptocurrency markets closely, you would see that a new paradigm is emerging. Bitcoin is losing steam. At the same time, other crypto tokens are bottoming out. One coin that has caught our eye is Cardano. Cardano is one of the most fundamentally sound cryptocurrencies. That’s why it doesn’t make sense that the cryptocurrency (ADA/BTC) dropped to as low as 0.00000524 on July 16. At that point, the crypto token lost over 94 percent from the all-time high of 0.00008788. Nevertheless, the cryptocurrency dubbed by some…

Court Calls on Craig Wright’s Wife to Testify in Ongoing Kleiman Case

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Judge Bruce Reinhart, who is overseeing the ongoing Kleiman v. Wright case, has requested international assistance in order to call Ramona Watts, Craig Wright’s wife, to the stand. Judge Reinhart sent his request to the Senior Master of the Queen’s Bench Division of the High Court in Strand, London, according to a court filing dated July 22. As per the filing, Judge Reinhart sent the request because he believes that the witnesses being called — three in total — have directly relevant evidence pursuant to the case.  Regarding Watts, Reinhart wrote…