Day: November 16, 2019

The Biggest Challenges Still Facing Blockchain

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Blockchain technology still hasn’t taken over the world and become the backbone of the global financial system. That’s because there remain enormous challenges that the cryptocurrency businesses and community are yet to solve. Here are 6 of the biggest challenges that blockchain networks like Bitcoin and Ethereum need to solve before they can hit the mainstream.  1. Real World Use Cases The first is finding concrete use cases for the real world. Since 2008, a lot has been said about how blockchain technology is poised to shake up the way…

What Powers China’s Crypto Mining Industry, and Is It Sustainable?

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The cryptocurrency mining industry continues to grow daily, supported by a continuous stream of new and more efficient hardware. China is at the forefront of the industry, but as environmental concerns loom, the sustainability of their success is coming into question. Mining chip manufacturers, the most prolific of which are based in China, work tirelessly to develop ever-more-powerful processors. With each new iteration, these high-capacity chips require more and more energy to operate. Newer mining machines render old ones obsolete, resulting in an increasing flow of electrical waste, the majority…

These Are The Golden Days Of Crypto Collectibles, Says Fintech Expert

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Speaking on stage at BlockShow Asia 2019 in Singapore, True Global Ventures 3d founder Dusan Stojanovic said the time to invest in crypto collectibles is “right now.” Some investors regard Bitcoin as a “safe haven” asset, and see high demand for it in a world of economic uncertainty. But Stojanovic sees the same value in crypto collectibles, especially in the gaming sector. He claimed that such collectibles could function as recession-resistant assets.  Crypto collectibles are a category of digital asset that are backed by non-fungible tokens — each token is…

Crypto Leaders Propose Open Compliance Protocol For Financial Action Task Force

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Today during a panel at BlockShow Asia 2019, a group of cryptocurrency industry leaders announced the creation of a protocol that aims to maintain privacy while complying with Financial Action Task Force (FATF) regulation.  The FATF’s so-called “travel rule” requires virtual asset service providers (VASPs) like cryptocurrency exchanges to collect and share personal data during transactions. The creators of the proposed protocol say that it enables VASPs to transmit this information in a highly private and secure fashion. The consortium released a whitepaper for the protocol yesterday — it’s called…

Asian Investors Call For Regulatory Clarity on Cryptocurrencies in the US

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Speaking at BlockShow Asia 2019, Proof of Capital managing partner Edith Yeung called out American regulators for leaving blockchain-based ventures in the dark. These companies are commonly domiciled in Singapore, Switzerland, or Hong Kong because “they have no idea of what is happening in the US. They don’t want to touch it because of the legal tension.” Some exchanges are in fact leaving the US amid continued regulatory uncertainties. Last month, Poloniex spun out from Circle to form a new exchange that will not allow American customers to trade on…