Day: April 22, 2020

The COVID-19 Global Pandemic Raises Serious Privacy Problems

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The headlines are scary. Millions of infections — over 170,000 deaths. Nothing will ever replace the lives lost or bring back pre-COVID-19 “normal” again. While our hearts and deepest sympathies go out to everyone whose life has changed due to this pandemic, there are long-term implications that, for those of us in the business of privacy, are just as scary as the pandemic itself. Apple and Google are collaborating on contact tracing solutions, and governments are tracking the movement and even biometrics of citizens through their personal devices. Once the…

Silicon Valley Startups’ Funding Troubles Poses Unique Threat to the Crypto Industry

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A report from law firm Fenwick & West LLP reveals venture capitalists have tightened spending in light of the economic crisis, spelling trouble for crypto startups looking for investment money. Not only that, but the findings of the report also show deflation in company valuations when compared to pre-pandemic times. Indeed, in January this year, Silicon Valley funding rounds typically boosted company valuations by 117% on average. However, startups in this region saw that figure drop to just 46% in March. A Decline in Confidence See Investment Spending Dry Up…

Silicon Valley Startups’ Funding Troubles Poses Unique Threat to the Crypto Industry

boss

A report from law firm Fenwick & West LLP reveals venture capitalists have tightened spending in light of the economic crisis, spelling trouble for crypto startups looking for investment money. Not only that, but the findings of the report also show deflation in company valuations when compared to pre-pandemic times. Indeed, in January this year, Silicon Valley funding rounds typically boosted company valuations by 117% on average. However, startups in this region saw that figure drop to just 46% in March. A Decline in Confidence See Investment Spending Dry Up…

Dharma Enables ‘Social Payments’ to Send Dollars via Global Twitter Handles

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Blockchain banking solution Dharma has implemented a new feature called Social Payments, allowing users to send U.S. dollars to any Twitter handle. An April 21 tweet announcing the move explained that payments can be made regardless of geographical location or whether the recipient has a Dharma account. Dharma users can make payments to Twitter handles from directly within their Smart Wallet, as long as there are sufficient funds in their account. The only further step is to retweet the payment to a twitter bot, tagging the recipient so that they…

Bitcoin Portrays Bullish Setup as Trump Plans Yet Another Bailout

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Bitcoin undergoes an intraday bounce after testing its long-term support. The recovery follows a deeper downside move earlier this week in the wake of the US oil market’s historic crash. President Donald Trump insists on saving the crude industry via another bailout. Bitcoin rebounded higher Wednesday as the Donald Trump administration discussed the prospects of introducing yet another stimulus package. The benchmark cryptocurrency advanced $254, or 3.75 percent, to establish a daily high near $6,985 on BitMEX. The intraday recovery also took place near a long-term support area near $6,400,…

Chinese Cosmic Cryptocurrency Ponzi Absorbs $11 Million in Three Weeks

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Antimatter Kingdom (AK), a new Chinese crypto Ponzi scheme, appears to have netted $11 million worth of Bitcoin (BTC) in less than one month of operating. Upon launching at the start of April, AntiMatter Kingdom described itself as “a super mining application group” operating on the CXC chain.  The press release boasts that AK reduces its supply by 18% every 90 days, urging investors to capitalize on the “huge opportunity.” CXC claims to comprise a “revolutionary blockchain business structure” allowing it to “compete with the cruel cosmic entropy law and…

Argentina’s Banks Set to Use RSK Blockchain Technology for Tracking Payments

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An Argentinian consortium of banks and technology companies under the patronage of the Central Bank of Argentina is promoting a pilot program implementing blockchain. The system would be used to handle direct account debit claims. The pilot was announced on April 21 by IOV Labs, the developer of the RSK blockchain. The company is part of the 2019 Financial Innovation Roundtable, which also includes Sabra Group, Banco de la Provincia de Córdoba, BBVA, ICBC, Banco Santander and others. The group has worked for several months since the end of 2019…