Day: December 13, 2019

Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees

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Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12. SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippine pesos and circumventing the longer process of traditional banking systems. Philippines-focused remittance platform SendFriend’s money transfer app aimed at reducing annual remittance fees for cross-border Filipino workers claims to lower such transaction costs by up to 75%. What makes it possible, according to the startup’s CEO, David Lighton,…

2019’s Bitcoin Miners Are 5x Faster Than Predecessors

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High-powered bitcoin miners and next-generation semiconductors go hand in hand and as process node technology grows, SHA256 hashrate follows. Coinshares’ recent bi-annual mining report highlights that newly introduced mining rigs have “as much as 5x the hashrate per unit as their generational predecessors.” Advanced chip technology has grown relentlessly and it’s significantly bolstered ASIC device manufacturing. Moreover, news from the International Electron Devices Meeting (IEDM) held on December 7-11 shows that the semiconductor industry is moving beyond the 7nm, 5nm, and 3nm processes and expects to design 2nm, and 1.4…

QuadrigaCX Victims Request Proof of Gerald Cotten’s Death By Exhuming Body

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Canadian law firm Miller Thomson has made a request to the Royal Canadian Mounted Police (RCMP) to conduct an exhumation and post-mortem autopsy on the body of Gerald Cotten, the deceased owner of the now-defunct Canadian crypto exchange QuadrigaCX. On Dec. 13, the Miller Thomson lawyers explained in a letter to the RCMP that the request to exhume and examine Cotten’s body was appropriate given the “questionable circumstances surrounding Mr. Cotten’s death and the significant losses” sustained by users of the cryptocurrency exchange. Victims need clarity on whether Gerald Cotten…

Accenture Picked to Build Sweden’s E-Krona Digital Currency Pilot

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Notably, those reports revealed Riksbank’s reticence to base any such digital currency on a blockchain or distributed ledger technology (DLT), which Riksbank labeled an “inefficient technology.” But its 2018 report nonetheless stated that “an e-krona should be able to interact with DLT solutions.” Source If You Liked This Article Click To Share AccentureBuildCurrencyDigitalEKronaPickedPilotSwedens CryptoX Portal

Bitcoin Miner Canaan’s Shares Plunge 40% Since IPO in November

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Chinese Bitcoin (BTC) mining giant Canaan Creative’s depositary shares have seen a 40 percent drop in value since November initial public offering (IPO). Canaan was the first Bitcoin mining giant to go public on a major United States stock exchange, and successfully navigate an IPO. However, the mining giant’s stock has taken a severe beating since its IPO on Nov. 21. The company’s stock price value went as high as $13 per share on the day of the launch, only to take a painful nosedive to today’s value of $5.25,…