A report called “Encryption Trends in Mexico 2020/2021” surveyed a total of 353 representatives from companies throughout Mexico. The study, published by privacy research center the Ponemon Institute, indicated that 40% of the Mexican companies surveyed were looking to adopt blockchain and cryptocurrencies in some form. Out of this segment, 71% were focused specifically on crypto usage. The figures also showed that 51% of these companies were intent on implementing blockchain for asset management and transaction handling purposes, while 37% expressed an interest in the implementation of smart contracts. Many…
Day: October 19, 2020
French Finance Minister throws shade at crypto, praises blockchain
French Finance Minister Bruno Le Maire, who once said Facebook’s Libra token would risk the “monetary sovereignty of states,” is continuing his criticism of cryptocurrencies. In an Oct. 19 tweet, Le Maire claimed some cryptocurrencies are associated with purchasing drugs and weapons in addition to being used for money laundering. However, he also wrote that he does not “question the reliability and traceability of all blockchain technology.” Cher @cyrilpaglino, nous ne remettons pas en cause la fiabilité et la traçabilité de toutes les technologies de la blockchain. Mais certaines cryptomonnaies…
This blockchain only needs 22Kb of data to be verified
Mina aspires to be the world’s tiniest blockchain, with claims that its protocol maintains a constant size of around 22 KBs. This is ostensibly achieved by using recursive zk-SNARKs — the same technology that is used by the privacy-centric cryptocurrency, Zcash (ZEC). However, whereas the latter utilizes this technology to provide greater privacy to its users, the former employs it for scalability. A zk-SNARK, which stands for zero-knowledge succinct non-interactive argument of knowledge, allows a party to prove that they have possession of certain information without revealing what that information is. It is…
Japanese payments firm JCB and Mizuho Bank test blockchain-based ID
Major financial institutions in Japan are moving into blockchain to streamline digital identity systems. Japan’s third-largest bank, Mizuho Bank, and local payment giant JCB are preparing to pilot a digital identity interoperability system based on blockchain technology. The new system will utilize a blockchain solution developed by Fujitsu Laboratories, Fujitsu announced on Oct. 15. The new joint initiative will allow the companies to verify mechanisms to securely transfer and link member ID information by multiple business operators. This data includes names, addresses and employers stored on a cloud platform built…
Swiss gov’t starts consultation process for blockchain laws
Switzerland’s Federal Department of Finance has initiated a consultation process for a blanket ordinance in the blockchain and distributed ledger technology space. The consultation will happen among cantons, parties and other interested groups in this space. It is scheduled to continue for more than three months, ending on Feb. 2, 2021. This is a part of the Swiss government’s active interest in promoting blockchain and cryptocurrency. The consultation to create better laws for the blockchain industry comes only a month after the government amended several existing finance and corporate laws to…
Yearn.finance (YFI) Won’t Look Good Until It Secures $16k, Analyst
Yearn.finance (YFI) has been one of the worst-performing assets over the past few weeks. As this outlet has reported, the coin has plunged in excess of 70% from its all-time high, as it reached lows of $12,000 after peaking at $44,000 just weeks ago. Sam Bankman-Fried, CEO of FTX, pinned the drop to three trends: a correction in all of DeFi, negative PR events, and yield farming yields dropping in the near term. While these factors have begun to subside as buying pressure has returned to the crypto market, investors…
Filecoin (FIL) Faces a Miner Crisis 72 Hours Into Launch, Analyst Says
Filecoin (FIL) has been one of the most talked-about digital assets of the past week. The cryptocurrency finally launched this week after years of development and after a rapid $200 million ICO in 2017. Unfortunately for FIL holders, an analyst says that the cryptocurrency is currently under threat due to a miner crisis. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Filecoin Is Facing a Miner Crisis Analysis by Twitter user Nico Deva suggests that Filecoin is in the midst of a miner crisis that is…