Day: August 27, 2019

Facebook’s Libra | Coinbase’s Ex-Policy Head Will Lead Lobbying

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In July, tech giant Facebook (NASDAQ:FB) announced that it was going to launch its own cryptocurrency named Libra, and since then, it has lurched from one problem to the next. Policymakers from all across the world, including the head of the US Federal Reserve and US President Donald Trump, expressed their skepticism about Libra soon after. Hence, it is quite clear that Facebook is currently at a loss as to how to tackle the myriad of policy issues that are going to arise with the launch of Libra. However, it seems…

Transparency and Analytics Build Trust in Crypto

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Jesse Spiro, global head of policy at blockchain analytics firm Chainalysis, has said that he believes that transparency builds trust in crypto. Speaking with Cointelegraph, Spiro addressed widespread concerns that blockchain analytics negatively affect Bitcoin’s (BTC) fungibility and explained why he believes that transparency builds trust in crypto. When he was asked what he believes would be the impact of blacklisting Bitcoin addresses on the coin’s price, he explained: “Active financial integrity in the ecosystem could also help counter that concern that crypto is a wild west with no way…

Cryptocurrency Mining Firm Argo Blockchain Increases its Hashrate

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Cryptocurrency mining firm Argo Blockchain is reportedly increasing its hashrate as the company’s stock price soars. An aggressively expanding mining firm United Kingdom-based business news outlet ProactiveInvestors reported on Aug. 27 that crypto mining company Argo Blockchain is expanding its mining capabilities after its stock price registered a sharp increase in the past months. Per the report, the firm owns 7,025 machines that it mostly uses to mine Bitcoin (BTC), but it has already ordered more hardware. This month Argo also signed a deal to increase its electricity supply by…

Swiss Central Bank SNB Is in Close Contact With Facebook’s Libra

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Switzerland’s central bank, Swiss National Bank (SNB) is in close contact with the relevant authorities over Facebook’s Geneva-based crypto project Libra. The news comes from SNB vice-chairman Fritz Zurbruegg via a Reuters report from Aug. 27.  Libra documentation still lack some details Zurbruegg said that it is still difficult to analyze the Libra project fully, citing the vague character of available documentation. He added that some details are still missing in the documents.  The news follows a visit by United States lawmakers to Switzerland this month in order to clarify…

Crypto Custody Market Overview — Who Are the Biggest Players?

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Cryptocurrency custody providers seem to be springing up all over the global digital landscape in 2019, and the crypto platform Coinbase emerging as the leader in the sector. At their very core, custody platforms are designed to serve as independent storage/security units that are aimed primarily at institutional investors. These solutions, more often than not, tend to make use of a combination of various hot and cold storage technologies. Also, while cryptocurrency exchanges and regular wallet systems conventionally utilize private keys (and other such security protocols) to protect an individual’s…

HSBC Is First Bank to Finance Transaction via Hyperledger on we.trade

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Multinational banking giant HSBC has reportedly become the first bank to complete financing transaction on European blockchain trade platform we.trade. Since we.trade started the project back in 2017, HSBC recently financed a transaction on the platform within a second round of pilots that started in June 2019, economics magazine Global Trade Review (GTR) reported on Aug. 22. The transaction involved HSBC’s client Beeswift, a Midlands-based producer of protective equipment, and their sale to a Rabobank-banked Dutch firm, the report notes. Based in Dublin, we.trade provides a Hyperledger Fabric-based tool for…

CoinMarketCap Sets November Target Date for New Liquidity Rankings

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CoinMarketCap (CMC), a major source of data about all traded cryptocurrencies, has set the target date of Nov. 12, 2019 to announce a new liquidity ranking system.  DATA Membership CMC revealed the news during the first virtual roundtable held today, Aug. 27, of the Data Accountability & Transparency Alliance (DATA), a group of exchanges and projects in the crypto space formed in May 2019.  DATA currently counts Binance, Bittrex, Huobi, OKEx and others as members. During the DATA roundtable, CoinMarketCap presented three topics for the alliance’s general consideration: the use…

4 Agencies Are Investigating Crypto Exchange QuadrigaCX

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At least four different law enforcement and regulatory agencies are investigating defunct Canadian crypto exchange QuadrigaCX, a new report by bankruptcy trustee Ernst & Young (EY) said. George Kinsman, the court-appointed bankruptcy trustee and EY employee overseeing the exchange’s shutdown and the return of funds to its users, wrote a new report Monday sharing some information about EY’s ongoing attempts to recover crypto and fiat for its creditors. The document outlines the different investigations surrounding the exchange, as well as EY’s motion to transfer QuadrigaCX’s ongoing bankruptcy proceedings from Nova Scotia…

The Bug Bounty Program for Facebook’s Libra Is Now Open to the Public

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The Libra Association has opened its bug bounty program to the public to address security concerns in advance of Libra’s anticipated 2020 launch. Expanding the playing field The announcement comes via a post on Libra’s website on Aug. 27. The post emphasized that the expansion of the program would promote values critical to the Libra Association like “openness, transparency, and global access,”  and ensure minimal issues come launch date. The association wrote that it expects opening the bug bounty program up to the public will encourage “many more people with…

VideoCoin Network Goes Live – Blockchain News

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After a year and a half of hard work and hype, the VideoCoin Network project has debuted its blockchain-powered video infrastructure platform – the VideoCoin Network. The network is for distributing, encoding, and storing video content, and going into the video processing and delivery arena. advertisement For the first time, users can now live stream video content on the VideoCoin Network enabled by the VID Token, which is now available on the KuCoin and Beaxy cryptocurrency exchanges. Content providers can start streaming today at the Videocoin Network. “We built the…