Day: August 5, 2019

UK Data Protection Watchdog Raises Concerns Over Facebook’s Libra

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The U.K.’s Information Commissioner’s Office (ICO) has requested, along with a number of other jurisdictions, that the companies in the Libra Association provide details on how they plan to protect user data. The ICO has released a joint statement on global privacy expectations of the Libra network on Aug. 5 that is addressed to Facebook and 28 other organizations behind the Libra and Calibra projects. The letter specifically asks the companies to explain how they plan to collect and process users’ personal data according to data protection laws. The letter…

South Korean Fashion Platform Joins Terra Stablecoin Alliance

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South Korean business-to-business fashion platform Sinsang Market has joined the Terra Alliance ecosystem, a stablecoin-focused association of large e-commerce companies. As South Korean economics-oriented newspaper EconoNews reported on Aug. 3, the partnership between Sinsang and Terra aims to create a payment system that deploys Korean mobile payment service CHAI. CHAI utilizes Terra’s blockchain technology to ensure fraud-resistant transactions and settlements with merchants in fiat currency. Sinsang will reportedly use Terra’s platform to enable its customers to conduct payments for a personal delivery service. Terra’s platform will ostensibly improve order settlements,…

Macroeconomic Turmoil Responsible for Bitcoin’s Growth

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The CEO of crypto payments firm Circle, Jeremy Allaire, suggested that macroeconomic turmoil is responsible for Bitcoin’s (BTC) recent growth. During the interview with CNBC on Aug. 5, Allaire suggested that Bitcoin has become a safe haven used to store wealth in times of geopolitical and macroeconomic turmoil. Allaire stated that there is a correlation between the recent coin’s gains and the devaluation of the Chinese yuan that just touched its 11-year low, stating: “You can very clearly see some macro correlation there. I think the broader theme of, you…

Injunction Extended — What’s Next?

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The saga continues. Despite everything that’s been said about Tether and Bitfinex, defying all the scrutiny and suspicion, they continue to survive as a controversial pillar of the global crypto ecosystem. And in their ongoing legal battle with the New York State Office of the Attorney General (OAG), they continue to fight against the attempt to sue them and their parent company, iFinex. Against all the odds, they’re doing a good job of holding their ground. This was underlined most clearly at the end of July, when Justice Joel M. Cohen of…

Yuan Falls, Bitcoin Jumps, Trump Says ‘Major Violation’ By China

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Bitcoin (BTC) is currently trading up 8% at $11,787 on Coinbase on the back of a yuan devaluation that dramatically escalates the US-China trade war. It is difficult not to ponder that a nightmare scenario forstocks might be opening up. A background of spreading trade protectionism and slowingglobal growth, capped off with a zero-sum currency war, is the last thing afrothy equity markets needed. And this all comes as the US Federal Reserve’s 0.25% interestrate cut was greeted poorly by the cheap money-addicted stock market, even asinterest rate cuts around…

Yuan Falls, Bitcoin Jumps, Trump Says ‘Major Violation’ By China

boss

Bitcoin (BTC) is currently trading up 8% at $11,787 on Coinbase on the back of a yuan devaluation that dramatically escalates the US-China trade war. It is difficult not to ponder that a nightmare scenario for stocks might be opening up. A background of spreading trade protectionism and slowing global growth, capped off with a zero-sum currency war, is the last thing a frothy equity markets needed. And this all comes as the US Federal Reserve’s 0.25% interest rate cut was greeted poorly by the cheap money-addicted stock market, even…

Bitcoin Surge Proves It’s a Haven from Stock Market Turmoil: Circle CEO

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The bitcoin price is surging because investors are embracing it as a “safe haven” amid the US-China trade war, says Circle CEO Jeremy Allaire. | Source: REUTERS/Kai Pfaffenbach (i), Shutterstock (ii). Image Edited by CCN. The bitcoin price is surging because investors are increasingly flocking to it as a “safe haven” amid the escalating US-China trade war. That’s what Circle CEO Jeremy Allaire told CNBC, when he praised bitcoin as a reliable store of value during stock market turmoil. “Humanity has now created a non sovereign, highly secure mechanism to…

Bitcoin Surge Proves It’s a Haven from Stock Market Turmoil: Circle CEO

boss

The bitcoin price is surging because investors are embracing it as a “safe haven” amid the US-China trade war, says Circle CEO Jeremy Allaire. | Source: REUTERS/Kai Pfaffenbach (i), Shutterstock (ii). Image Edited by CCN. The bitcoin price is surging because investors are increasingly flocking to it as a “safe haven” amid the escalating US-China trade war. That’s what Circle CEO Jeremy Allaire told CNBC, when he praised bitcoin as a reliable store of value during stock market turmoil. “Humanity has now created a non sovereign, highly secure mechanism to…

UK Bank Standard Chartered Uses Blockchain for Supply Chain Finance

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London-based bank and financial services firm Standard Chartered has completed its first joint blockchain-based supply chain financing transaction. Standard Chartered announced on Aug. 5 that the institution successfully ran their first joint deep-tier supply chain financing transaction in partnership with China-based supply chain financing service provider Linklogis. The news follows a memorandum of understanding signed by Standard Chartered and Linklogis in February 2019, when the firms agreed to collaborate on expanding the bank’s supply chain visibility, as well as to support sustainable growth of China’s economy and innovation. Linklogis platform…

ICO joins international signatories in raising Libra data protection concerns

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The Information Commissioner’s Office (ICO) has joined data protection authorities from around the world in calling for more openness about the proposed Libra digital currency and infrastructure. A statement to Facebook and 28 other companies behind the project asks them to provide details of how customers’ personal data will be processed in line with data protection laws. It asks for assurances that only the minimum required data will be collected, that the service will be transparent, and requests details of how data will be shared between Libra Network members. The…