Day: October 27, 2019

What Troubles? Tether Keeps Growing; Especially in Adult, Gambling, Cannabis Sites

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The USD-backed stablecoin firm Tether (USDT) has been involved in controversies since last July when it was first alleged for manipulating the price of Bitcoin(BTC)trade, which later culminated into investigations and lawsuits against the company. Despite all of these severe legal issues, Tether has reported a significant growth in its utilization as a digital payment mode for goods and services. In fact, Tether is now becoming more and more popular on gambling sites and pot shops. The Cayman Islands-based cryptocurrency payment processor firm CoinPayments reports that Tether’s volume has increased…

A Global Overview From Ljubljana to Zurich

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There’s no easy way to buy, send or spend cryptocurrency in person — not even for a slice of pizza or a cup of coffee, or so it’s been said. Meanwhile, the number of physical merchant locations that accept crypto payments keeps growing. As of late October 2019, 15,558 business venues worldwide were accepting Bitcoin (BTC) as a method of payment, up 18% from a year earlier, according to Coinmap.org. The crowdsourced heatmap, devised by Satoshi Labs in 2013, draws on input from consumers and merchants. It also offers up…

China Studying Blockchain and AI for Cross-Border Financing

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China is looking into the application of blockchain and Artificial Intelligence (AI) to cross-border financing, Reuters reports on Oct. 27. Blockchain in risk management Lu Lei, the deputy head of the Chinese regulator State Administration of Foreign Exchange (SAFE), reportedly said that there are plans to use blockchain and AI in cross border financing, with particular attention devoted to risk management applications.  Lei noted that SAFE promotes the application of fintech and AI to international finance and macro-prudential management. His urge to innovate is in line with the remarks of…

Hacker Group Demands Ransom of 4 Bitcoin from Johannesburg Municipality

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A group named “Shadow Kill Hackers” has targeted the largest city of South Africa, Johannesburg, and demanded a ransom of four Bitcoin(BTC)trade or they will publish the stolen city data on the internet. According to a message displayed on the computer of the city’s employees, the deadline to pay the ransom is October 28, 5 pm, local time. As per the message, the hackers have found several backdoors or vulnerabilities through which they have gained control over how the city operates. The message reads: “Hello Joburg city! Here are Shadow…

OKEx Joins Kakao Corporation Backed Klaytn Blockchain Project as Ecosystem Partner

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One of the leading digital asset exchanges in the world, OKEx has joined forces with Klaytn – a global public blockchain project as an Ecosystem Partner. As a part of the partnership, OKEx will be working closely with other partners in the Kakao Corporation backed blockchain project. The Klaytn blockchain platform is an enterprise-grade, service-centric blockchain platform offering the best of both public and private chains through an efficient hybrid structure. With a strong foothold in the cryptocurrency industry, OKEx is a logical choice for partnership in order to promote…

Is China’s New Fascination With Blockchain Really Good for Bitcoin?

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Blockchain development has kind of become an element of the party line in the world’s largest officially communist state. The General Secretary of the Communist Party of China, Xi Jinping, recently told a Politburo meeting that the People’s Republic has to gain an edge in the emerging field. Some say Xi’s statement brought back the smiles of crypto investors and was the main reason for the recent market spike. But is it really that simple? Also read: Chinese Students Want Crypto Jobs, 8% Own Cryptocurrencies President Xi Urges Quick Development…

UAE Accepts Crypto Regulation, Blockchain Projects Stand to Benefit

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The Securities and Commodities Authority (SCA) in the United Arab Emirates has drafted a resolution on regulating crypto assets, providing greater clarity for crypto-related projects in the Middle East nation. With the focus usually on China, Japan or the United States, the Middle East is an area that doesn’t often get the attention it deserves when it comes to blockchain and cryptocurrencies. However, barring a few highly restrictive countries, such as Iraq and Kuwait, the region generally exhibits a very progressive and supportive stance when it comes to the blockchain…

IBM, SoftBank and TBCASoft Partner Up to Revamp the Telecom Industry with Blockchain

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The U.S.-based blockchain firm TBCASoft, Japanese multinational conglomerate holding company SoftBank and American tech giant IBM are coming together to disrupt the telecommunication industry with dedicated cross-barrier blockchain solutions. The firms announced a strategic partnership to utilize blockchain technology for a platform specifically designed to address key challenges associated with the industry. The platform will bring industry leaders together, offer new services to telecom carriers and their subscribers, and help to develop new business models. As per the announcement, TBCASoft is allocated with the task of bringing dedicated technology and…

Bitcoin’s Friday Jump to $10K Theories: Chinese President’s Statement or ‘Short Squeeze’

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I guess we can all agree that it was a good Friday for the global crypto community this week. The prices of the top crypto coins saw a huge spike in just a few minutes on Friday, October 25, with Bitcoin(BTC)trade climbing all the way up to a little over $10,000. This is a substantial rise from the $7,000 mark it hovered around on Thursday, and analysts believe that the largest virtual currency by market capitalization could continue even further with this momentum over the coming weeks. Bitcoin is not…

Ethereum Price Weekly Forecast: ETH Rally Not Likely Over

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ETH price rallied recently and broke many resistances near $172 and $185 against the US Dollar. The price even spiked above the $188 resistance and it is currently correcting lower. There was a break above a significant bearish trend line with resistance near $170 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong support near $175 and $172 levels in the coming sessions. Ethereum price is trimming gains below $185 against the US Dollar, similar to bitcoin. ETH is likely to…