Day: October 21, 2019

Anti-Money Laundering Laws Apply to Crypto Too, Says FinCEN Chief

boss

The United States Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco spoke at the University of Georgetown where he made it clear that Anti-Money Laundering (AML) laws apply to everyone. On Oct. 21, banking trade publication American Banker reported that Blanco said that fintech firms offering cryptocurrency users anonymity must comply with AML laws “just like everyone else.” Blanco highlights responsibilities and the Bank Secrecy Act Blanco seemed to direct his comments toward anonymous crypto payment systems that could conceal criminal activity and or enable users to anonymously engage in…

Canadian Terminal Operator Joins Maersk and IBM’s TradeLens

boss

Global Container Terminals (GCT), a container terminal operator in North America, has joined Maersk and IBM’s blockchain shipping tool TradeLens. Adding four Canadian and U.S. terminals to the platform  As part of the initiative, Vancouver-based GCT will gradually roll out the blockchain-based platform at the four terminals it operates, the firm said in a press release on Oct. 17.  GCT wants to use the platform to improve visibility on the cargo supply chain to the east and west coasts of North America. The platform will establish a secure interconnection between…

Canadian Terminal Operator Joins Maersk and IBM’s TradeLens

boss

Global Container Terminals (GCT), a container terminal operator in North America, has joined Maersk and IBM’s blockchain shipping tool TradeLens. Adding four Canadian and U.S. terminals to the platform  As part of the initiative, Vancouver-based GCT will gradually roll out the blockchain-based platform at the four terminals it operates, the firm said in a press release on Oct. 17.  GCT wants to use the platform to improve visibility on the cargo supply chain to the east and west coasts of North America. The platform will establish a secure interconnection between…

Blockchain Firm Algorand Announces Sharia Certification for Islamic Finance

boss

The Algorand Foundation announced that its blockchain platform is now certified for Sharia-compliant financing. According to a press release on Oct. 21, Islamic institutions can now start using the proof-of-stake Algorand blockchain for economic exchange, stating: “Islamic enterprises will now be able to realise new business opportunities on a platform that is congruent to their finance guidelines.” Although Algorand obtained the certification for Sharia financing, each decentralized application built on Algorand will need to be evaluated and vetted individually for compliance. The Algorand Foundation recognizes the importance of Islamic financial…

‘Death Cross’ Dampens $8.8K Hopes as Bitcoin Price Recovery Stalls

boss

Bitcoin price (BTC) is down around 1% on Monday, following a strong close to the week on Sunday with a move from lows of $7,875 to highs of over $8,300. The altcoins also bounced around 2% yesterday and have also failed to follow through today.   Despite the strong close to the week, Bitcoin closed the week down around half a percent and the altcoins a similar amount. With an encouraging bounce in the twelfth hour, we examine what this may mean going into the week and if the updraft in…

Bitmain’s Jihan Wu Talks Mining and Industry Growth With Bitcoin.com’s CEO

boss

At the World Digital Mining Summit in Frankfurt, Germany, Bitcoin.com’s CEO Stefan Rust sat down with Jihan Wu, cofounder of Bitmain Technologies and Matrixport. The two discussed how cryptocurrencies being used for payments is spreading and how Bitmain is doing after the bear market last year. Also read: SEC Wants Second Look at Bitwise Bitcoin ETF Proposal A Virtual Economy at Work Approaching Critical Mass The World Digital Mining Summit (WDMS) is a two-day mining conference that hosts an assembly of industry leaders, mining rig manufacturers, cryptocurrency pool operators, and…

Blockchain and DNA-Based Fuel Tracking Solution Launches Commercially

boss

Bunkertrace, a blockchain and DNA-based fuel tracking solution, is using DNA markers to trace bunker fuel oil throughout the supply chain. On Oct. 21, in an article by the American Journal of Transportation, Bunkertrace announced its commercial launch after a successful trial in the Netherlands where the company added DNA markers to bunker fuel oil. The new solution combines synthetic DNA markers and blockchain technology to trace the fuel and make it possible to track any changes made to it. The company then records each transaction in a blockchain-based system…

Price Analysis 21/10: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

boss

Several major cryptocurrencies are showing signs of a possible trend reversal. If the bounce sustains, many could become optimal buying opportunities. The global economy is on weak footing. This has led to rate cuts by several central banks across the world and many are planning to implement additional measures to support their respective economies. This has ballooned the balance sheets of the central banks and there appears to be no end in sight. Since mid-September, the Federal Reserve has resumed its bond buying initiative, leading its balance sheet to expand…

Bitmain Launches 50MW Bitcoin Mining Farm in Rockdale, Texas

boss

Bitcoin mining behemoth and ASIC chip manufacturer, Bitmain, has announced the launch of its 50-megawatt capacity mining farm in Rockdale, Texas. The firm says the project is part of its global expansion plans, according to a blog post on October 21, 2019. Bitmain Live in Texas  Leading bitcoin mining equipment manufacturer, Bitmain has joined forces with the Rockdale Municipal Development District (MDD) and DMG to unveil a new cryptocurrency mining farm in the region.  As stated in its blog post, the bitcoin mining farm has been in the works since…

Bitcoin.com Acquires Blockchain Software Startup O3 Labs

boss

JAPAN, TOKYO, October 21, 2019 — Bitcoin.com has announced the acquisition of blockchain startup O3 Labs, the Tokyo-based software company that specializes in developing gateways to the digital economy. The deal will see O3 absorbed into Bitcoin.com, forming a single team dedicated to creating tools for realizing the full potential of the Bitcoin Cash network. The two companies intend to work together to build the next generation of mobile financial services, which will bear the Bitcoin.com name. The strategic acquisition of O3’s blockchain and app development talent will allow Bitcoin.com…