Month: August 2019

What Else Is the Pentagon Up To?

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This week saw twin reports from smart contract startup Simba Chain and blockchain data management firm Constellation, both of whom announced contracts with the United States Air Force.  New utility in USAF Judging by these developments, the U.S. Air Force is looking seriously at new tech to shore up supply chains and rearrange data. Simba Chain has reportedly been tasked with prototyping a blockchain approach for the registration and tracking of additive manufacturing — also known as 3D printing — components throughout their lifecycles. Meanwhile, according to the original press…

Crypto News From the Spanish-Speaking World: Aug. 24-31 in Review

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The Spanish-speaking world saw a number major developments this week, with several companies accepting cryptocurrencies as a form of payment and the Venezuelan government making new claims about the use and acceptance of the controversial Petro coin. Here’s the past week of crypto and blockchain news in review, as originally reported by Cointelegraph en Español. Spain: Eurocoinpay introduces cryptocurrency payments On Aug. 24, Cointelegraph en Español reported that in Spain, Eurocoinpay introduced the possibility of making payments and collections with cryptocurrencies, through an application to make transactions in various shops. The…

How Facebook Libra Is Seeking Compliance, but May Not Launch by 2020

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For the cryptosphere, August was marked by the hotly debated announcements of world giants regarding the releases of international cryptocurrencies. The People’s Bank of China (PBoC) announced the imminent release of a national digital currency, Walmart began developing its own blockchain, Binance launching the Venus project, and Pavel Durov’s TON finally shared its release date. The race was also joined by Facebook, which kept the development of its cryptocurrency a secret until the very last second. At the moment, the company is actively hiring specialists who can convince financial regulators to…

Kyrgyzstan Proposes Draft Law to Introduce Crypto Mining Taxation

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On Aug. 28, the Ministry of Economy of Kyrgyzstan has submitted the draft law “On Amending the Tax Code” with the aim of introducing cryptocurrency mining taxation. New tax proposal According to news outlet Kabar, the draft law was specifically developed to allow for the possible taxation of crypto mining. The taxation on cryptocurrency mining is expected to increase budget revenues and to contribute to the principle of fair taxation in the Kyrgyz Republic. The Ministry of Economy of Kyrgyzstan seems to be exploring two possible options to implement taxes…

US-China Trade War and Its Effect on Cryptocurrencies

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The People’s Bank of China (PBoC), the country’s central bank, has announced that it is planning to launch a central bank digital currency (CBDC), inspired in part by Facebook’s Libra project.  David Marcus, the head of Facebook cryptocurrency wallet Calibra, and known as the co-creator of the company’s venture into cryptocurrencies, had this to say on Twitter: “Like I said: if we don’t lead (and by ‘we’ I mean the Free World, *not FB*) others will. It wasn’t a figure of speech, an exaggeration, or a spin of the reality…

Australian Coder Warns Users of Lightning Network’s Vulnerabilities

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Australian software programmer and Bitcoin’s (BTC) Lightning Network coder Rusty Russell warned users that “security issues have been found in various Lightning projects which could cause loss of funds.” Urgent update recommended On Aug. 30, Russell published a tweet urging LN nodes operators to update their software as soon as possible. According to the message, his warning concerns all versions of c-lightning prior to 0.7.1, lnd older than 0.7, and eclair up to version 0.3. Notably, just earlier this month blockchain development company Blockstream announced the release of the version…

Ex-ConsenSys Exec Joins Security Token Project Dusk Network

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Former blockchain firm ConsenSys’ ventures head Kavita Gupta joined security token project Dusk Network. As industry news outlet The Block reported on Aug. 30, Gupta joined Dusk Network, an Amsterdam-based startup trying to help companies tokenize their equity shares. Dusk Network co-founder Mels Dees claims that the company is also working with a regulated European stock exchange and have partnered with a major cryptocurrency exchange. Fundraising for private companies Gupta, who worked at McKinsey, HSBC, and the World Bank, believes that Security Token Offerings (STOs) can address various impediments that…

Amanie Advisors Support Ether’s Compliance With Islamic Finance Law

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Islamic finance and Sharia advisory firm Amanie Advisors have established Ether’s (ETH) compliance with Islamic religious law. Ether receives Sharia endorsement In a blog post published on their website, Amanie Advisors announced that the firm has collaborated with the Ethereum Foundation to establish the platform’s compliance with Sharia religious law. As a result of the collaboration, the company released a paper with the main purpose of illustrating Ethereum’s compliance with Islamic morals, which concedes a Sharia endorsement of the project and the coin. In the white paper, the advisory firm…

4 Key Similarities to Previous Bull Market Corrections

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While Bakkt clients will be able to deposit their funds into the Bakkt Warehouse next week on Sept. 6, Bitcoin price is trending downwards after falling below $10,000 in the run-up to the event.  So is this already priced in or the market cycles are just repeating themselves? Let’s take a look at some key similarities to previous bull market cycles.  Similarities I & II: 100-week MA & 21-week EMA providing support BTC/USD Weekly chart. Source: Tradingview A common discussion lately on Crypto Twitter suggests that there’s a confluence between…

Billionaire Hedge Fund Manager Eyes $1 Billion Crypto Venture

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Superstar Hedge fund manager Alan Howard has decided to create a unique enterprise which will forever change the crypto space. Created by the UK Crypto asset management firm Elwood management, the system which is currently under development will create opportunities for crypto hedge funds and other institutions who wish to profitably sail through the waters of the crypto-verse. Elwood Asset management are the custodians of Billionaire Alan Howard and other high net worth individuals who have identified opportunities to make profits from the new and exciting world of cryptocurrencies. How…