Day: October 15, 2019

New Gov’t Initiative to Put South Korean Trade on Blockchain by 2021

boss

The South Korean government is planning to establish a digital trade foundation to reduce the costs of trade by using blockchain technology. Reduce trade costs by more than 90% On Oct. 14, South Korean Finance Minister Hong Nam-ki introduced the country’s Development Plan for Digital Trade. Under the plan, technologies such as blockchain, big data and AI, will be applied to digitize the entire Korean trade finance ecosystem by the year 2021. Finance Minister Hong Nam-ki reportedly said: “We will build a digital trading platform that can be easily and…

Q3 Saw Record High Inflows, Growing Institutional Interest

boss

Digital asset management giant Grayscale registered over $254 million in total investment into its products in the third quarter of 2019. In its Digital Asset Investment Report for Q3 2019, Grayscale provided details on the inflows into its products for the period from July 1, 2019 through Sept. 30, 2019. The third quarter of the year marked the highest demand for the company’s offerings since its establishment, resulting in $254.9 million of inflows. The figure shows a threefold quarter-on-quarter increase, from $84.8 million last quarter. The quarterly inflows into Grayscale…

Ford Uses Blockchain Tech to Track ‘Green Miles’ Driven By Vehicles

boss

The Ford Motor Company is looking into blockchain technology and geofencing to accurately track the number of “green miles” driven by its energy-efficient vehicles. Analyzing real-world benefits of energy-efficient vehicles On Oct. 15, Ford announced that it is expanding its European plug-in hybrid electric vehicle (PHEV) pilot project to Cologne in Germany. The United States car manufacturer aims to analyze the real-world benefits of these energy-efficient vehicles for the environment, commercial vehicle owners and operators. The pilot, which is also conducting tests on the streets of London and Valencia, will…

Ford Uses Blockchain Tech to Track ‘Green Miles’ Driven By Vehicles

boss

The Ford Motor Company is looking into blockchain technology and geofencing to accurately track the number of “green miles” driven by its energy-efficient vehicles. Analyzing real-world benefits of energy-efficient vehicles On Oct. 15, Ford announced that it is expanding its European plug-in hybrid electric vehicle (PHEV) pilot project to Cologne in Germany. The United States car manufacturer aims to analyze the real-world benefits of these energy-efficient vehicles for the environment, commercial vehicle owners and operators. The pilot, which is also conducting tests on the streets of London and Valencia, will…

Bitcoin’s Smallest Unit ‘Satoshi’ Added to Oxford English Dictionary

boss

Oxford University Press published its recent quarterly report which revealed the term ‘satoshi’ was added to the Oxford English Dictionary (OED) database. The word represents the “smallest monetary unit in the Bitcoin digital payment system,” according to the definition. Also Read: The Fed Plans to Inject $60 Billion per Month Into the Economy Satoshi, the Smallest Unit in Bitcoin, Added to the Oxford Dictionary Digital currencies continue to gain mainstream acceptance and the ecosystem’s associated words and terminology have been incorporated into our everyday lives. Oxford University Press recently published…

Bitcoin’s Smallest Unit ‘Satoshi’ Added to Oxford English Dictionary

boss

Oxford University Press published its recent quarterly report which revealed the term ‘satoshi’ was added to the Oxford English Dictionary (OED) database. The word represents the “smallest monetary unit in the Bitcoin digital payment system,” according to the definition. Also Read: The Fed Plans to Inject $60 Billion per Month Into the Economy Satoshi, the Smallest Unit in Bitcoin, Added to the Oxford Dictionary Digital currencies continue to gain mainstream acceptance and the ecosystem’s associated words and terminology have been incorporated into our everyday lives. Oxford University Press recently published…

Facebook Officially Launches Libra Despite High-Profile Departures

boss

Libra, the highly-scrutinized planned cryptocurrency led by Facebook (NASDAQ:FB), officially launched in Geneva yesterday despite several high-profile defections from the project last week. Libra Launches With 21 Chartered Members The Libra Association, the non-profit governing body of the digital currency, officially signed on 21 charter members at a meeting at its Swiss headquarters. The association was originally made up of 27 members; however, the high level of regulatory scrutiny leveled at the project led to several prominent defections in recent weeks. These include Visa (NYSE:V), PayPal (NASDAQ:PYPL), and Mastercard (NYSE:MA),…

Crypto Markets Turn Red, While Bitcoin Price Takes a Hit Below $8,200

boss

Tuesday, Oct. 15 — Bitcoin (BTC) has continued to trade sideways for most part of the day, while taking a sudden dip in recent hours. Market visualization. Source: Coin360 The world’s most popular cryptocurrency traded flat for the better part of the last 24 hours, with an intraday high of around $8,400. In the last couple of hours, BTC took a sudden dip to under the $8,200 price mark, showing a loss of more than 2% on the day. Bitcoin’s average daily trading volume hovers around $15 million, while its market…

Blockchain Voting Systems — Can Democracy Rely on Them?

boss

At the beginning of October, a story released by CNN claimed that a student affiliated with the University of Michigan attempted to hack into West Virginia’s blockchain-based voting system called Voatz. As per the report, the FBI is now actively investigating the matter and is looking to authenticate the veracity of these claims. Voatz is a smartphone-based app that was used by the West Virginia government last year to collect ballots from its citizens that were either living overseas at the time or were stationed abroad for military purposes. The…

Bank of England Governor Carney Defends Facebook’s Libra Stablecoin

boss

Bank of England Governor Mark Carney has defended Facebook’s choice to create a new currency. Canadian news outlet TheStar reported Carney’s remarks on Oct. 15, noting that he highlighted the shortcomings of the current traditional financial system. Because of the inefficiency of the payments, Carey thinks that firms such as Facebook should be involved in projects like Libra. The current payments industry is lacking More precisely, he reportedly criticized the high costs of moving money, saying that they penalize small businesses and can cost firms as much as 200 basis…