Day: November 27, 2019

Banque de France Official Suggests Issuance of Central Bank Digital Currency

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Denis Beau, First Deputy Governor of Banque de France (France’s central bank) discussed the possibility of central banks in Europe developing a digital currency at the AFME Annual Capital Market Technology and Innovation Conference, held in Paris on 21st November. Beau stated that the tokenization of financial assets, along with applications based on blockchain technology and distributed ledgers used for storage and exchange of electronic assets, can be a possible solution to meet consumers’ demand. Additionally, he added that the Eurosystem should look into exploring these ideas and improve the…

Ghana Exploring Digitized National Currency, Says Central Bank Exec

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The Republic of Ghana is exploring the benefits of issuing a central bank digital currency (CBDC), the governor of the country’s central bank says. Ernest Addison, a Ghanaian economist currently serving as the governor of the Bank of Ghana (BoG), revealed that the bank is working with key stakeholders to explore a pilot CBDC project. In a keynote address within the 23rd National Banking Conference on Nov. 26, Addison stated that the CBDC project would be carried out in a sandbox “with the possibility of issuing an e-cedi in the…

Swiss Executive Branch Calls for Improved Regulations for Blockchain

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The Federal Council of Switzerland — the country’s executive governing body — has called for a better regulatory framework for blockchain and distributed ledger technology (DLT) in the country. According to an official announcement released on Nov. 27, the Federal Council adopted a dispatch explaining its priorities for improving blockchain and DLT legislation. The proposal targets legal certainty in the sector, as well as eliminating barriers for blockchain-based applications and reducing the risk of abuse. The Council thus revised a report initially released in December 2018 and submitted a range…

Bancor Claims Liquidity Token Airdrop Will Increase DeFi Users by 500%

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The decentralized liquidity network Bancor announced its upcoming airdrop, which will start on New Year’s Eve.  In a Nov. 27 press release shared with Cointelegraph, the decentralized exchange platform announced the official launch of its New Year’s Eve airdrop, which will give away its ETHBNT liquidity pool tokens to 60,000 people.  Liquidity pools allow members to add liquidity to a decentralized exchange (DEX) and receive a portion of the exchange’s trading fees in return. Making DEXs more liquid is purportedly crucial in ensuring that they can compete with centralized exchanges. …

Bitcoin Price Stabilizes Above $7,000 as 169 Days Left till BTC Halving

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On Wednesday most cryptocurrencies were trading in red again including Bitcoin (BTC) that, in the last 24 hours couldn’t turn its trace. Bitcoin closed on Tuesday the day at the $7,198 price mark, at which point the world’s largest crypto coin found an intra-day high on Wednesday of $7,227, before moving down again towards its current trading price near $6,945 still falling by 3.51 at 11:53 am CET. Among the possible influencing factors we should mention the recent Upbit hacker attack. BTC is still down around 15% from the weekly…

Bitcoin Price Dropped below $7,000 as Upbit Confirms Hacker Attack

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Earlier today, news of a possible hack on one of South Korea’s biggest cryptocurrency exchange platforms Upbit made the rounds. Reports had it that the exchange’s customers were confused because they noticed quite a few irregularities with their accounts including the inability to transfer funds. In a recent publication, Upbit has now confirmed that a large and unauthorized amount of funds was moved to an unknown wallet. It’s also worth mentioning that this news has negatively influenced the price of Bitcoin which has fallen below $7000. However, now it’s gone slightly…

Signs Point to Inside Job in Upbit Crypto Exchange Hack, Says Commentator

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Following the theft of 342,000 Ether (ETH) ($50 million) from major South Korean crypto exchange Upbit, some commentators have suggested that the hack was actually an inside job. As Cointelegraph contributor Joseph Young tweeted on Nov. 27: “The ‘hacker’ timed when UPbit was making crypto transfers to its cold wallet (other alts like TRON, etc.). Hence, I think the probability of it being an inside job is higher than external breach.” Hacker’s timing was advantageous As Cointelegraph reported, the incident was confirmed in an official statement published earlier today, which…

Bitcoin Is Looking at a Short-Term Bull Reversal if Prices Pass $7,400

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Stepping back, the cryptocurrency ran into selling pressure near $7,350 on Nov. 24 and fell to six-month lows near $6,500 on the following day. The drop, however, was short-lived and prices quickly rose back to $7,380 before printing a UTC close at $7,159 on Nov. 26. The recovery from $6,500 to $7,159 represents the long lower shadow of the hammer and the spread between $7,350 and $7,159 represents the body. Source

Bitcoin’s Carbon Footprint Lower Than Previously Thought

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Fresh research has challenged the perception that Bitcoin (BTC) mining is irreconcilable with tackling climate change. Major science and technology magazine The New Scientist published a report on the new findings on Nov. 20. Prior research over-reliant on “blanket” assumptions In their study, Susanne Köhler and Massimo Pizzol at Aalborg University in Denmark have criticized the assumptions underlying earlier claims that Bitcoin’s energy consumption may be as high as 63 megatonnes of CO2 annually, the New Scientist notes. Such estimates rest on the assumption that carbon emissions from electricity generation…