Day: October 28, 2019

Russian Nuclear Scientist Jailed for Illegally Mining Bitcoin 

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Andrey Rybkin, a Russian nuclear scientist working at the All-Russian Scientific Research Institute of Experimental Physics, has been sentenced to three years in prison with a hefty fine of 200k rubles ($3,122) for illegally mining Bitcoin with the agency’s computer systems, according to reports on October 28, 2019. End of the Road The Russian nuclear scientist who tried outsmarting his employees by mining Bitcoin (BTC) with the computer network of his workplace, has bagged a three-year jail term for his actions. Per sources close to the matter, Russian authorities have…

Don’t Break These 11 Rules Trading Bitcoin and Crypto

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Experienced traders learn from the lessons of the past and develop specific trading rules to avoid making the same mistakes twice. They stick to their rules, no matter how much temptation there is to violate them. Everyone has a different list – here are some of mine, which I keep posted next to my screen to make sure that I check them before entering a trade.  Never revenge trade When I finish a trade, whether in profit or at a loss, I have a rule that I steadfastly stick to.…

Binance Lists Blockstack for $250,000 ‘Long-Term Payment’

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A United States Securities and Exchange Commission (SEC) filing reveals that major cryptocurrency exchange Binance received a $250,000 “long-term payment” to keep Blockstack (STX) listed for one year. Blockstack’s SEC filing reveals that Binance received 833,333 STX, which at the $0.30 token valuation provided by the company is equivalent to $250,000. The document also shows that the company intends to pay Binance more: “[Blockstack] will pay three additional incremental payments of 833,333 each, on the first, second and third anniversaries of the Services Agreement’s effective date provided the Stacks Token…

China to Be First to Launch Digital Currency, Says Think Tank Exec

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An executive at a Chinese economics think tank has said that China’s central bank will be the first to launch a digital currency successfully. According to Chinese tech news outlet Pandaily, Huang Qifan, vice chairman of China Center for International Economic Exchanges (CCIEE), confidently believes that China’s central bank will win the race for the first central bank digital currency (CBDC).  A digital renminbi to replace SWIFT Qifan’s remarks came at the Inaugural Bund Financial Summit of 2019 in Shanghai. Per the report, Qifan was dissatisfied with current dependence on…

Bakkt Teases Launch of Consumer Payments App Scheduled for 2020

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Cryptocurrency custody and futures trading platform Bakkt has announced its coming entry into mobile payments with a consumer app. Per an Oct. 28 blog post from the company, Bakkt will follow its recent successes in trading Bitcoin (BTC) futures with a consumer app. According to the company, the app will help consumers “unlock the value of digital assets, as well as ways in which they can transact or track them.” Starbucks on board Though the announcement is vague on the specifics of the app’s functionalities, coffee empire Starbucks is the…

China Has 700+ Blockchain Companies, According to Industry Study

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China Electronic Information Industry Development (CCID) announced on Oct. 27 that there are over 700 blockchain enterprises in China, with over 500 relevant investments reported. China sees aggressive blockchain development According to a collective study conducted on Oct. 24 by the Central Committee of the Political Bureau of the Communist Party of China, of the aforementioned 700 blockchain enterprises, 83 are research institutions and 34 are banks. Furthermore, over 500 investment and financing events took place in the domestic blockchain industry.  The data also reveals that 12 blockchain policies have…

Libra Might Become Unrecognizable by Navigating Regulatory Concerns

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Amid the regulatory storm facing Libra, the project’s hierarchy is looking to change one important detail of the payment system: using fiat-pegged stablecoins rather than a token supported by a basket of national currencies. The Libra Association says such considerations are part of efforts to create a more agile payment platform. Meanwhile, the furor over the controversial Libra has begun to take a more political undertone, both within and outside the United States. Arguments for and against the project now seem to include issues surrounding the trade war between the U.S. and China. In…

Bahamas ‘Sand Dollars’ Cryptocurrency to Help Island Nation Recover from Hurricane Dorian

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Hurricanes have been causing extensive damage to the islands of the Bahamas for millennia. The Central Bank of the Bahamas plans to pilot the first cryptocurrency in the form of Sand Dollars. Project Sand Dollars offers numerous benefits that can help individuals and businesses to recover, including having the means to quickly access finances and purchase needs after a natural disaster. Hurricanes have been ravaging the Bahamas for centuries. According to travel advice website TripSavvy, a hurricane passes close to the Bahamas every other year on average. In addition, a…

Bahamas ‘Sand Dollars’ Cryptocurrency to Help Island Nation Recover from Hurricane Dorian

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Hurricanes have been causing extensive damage to the islands of the Bahamas for millennia. The Central Bank of the Bahamas plans to pilot the first cryptocurrency in the form of Sand Dollars. Project Sand Dollars offers numerous benefits that can help individuals and businesses to recover, including having the means to quickly access finances and purchase needs after a natural disaster. Hurricanes have been ravaging the Bahamas for centuries. According to travel advice website TripSavvy, a hurricane passes close to the Bahamas every other year on average. In addition, a…

A call for participation: Building the ICO’s auditing framework for Artificial Intelligence

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As the initial Call for Input into the development of the ICO AI Auditing Framework comes to an end, Simon McDougall, Executive Director for Technology and Innovation, reflects on some of the overarching themes that have emerged in the first phase of our work. 28 October 2019 This update draws our initial Call for Input on developing the ICO Auditing Framework for AI to a close. Over the last eight months, we have used this blog to share our early thinking on the key data protection risks that we believe AI…