Day: October 28, 2020

Apple Has Doubled Down on Its Search Engine Development

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Apple Inc has doubled down on its efforts to develop its own search engine similar to that of Alphabet Inc. According to the report by CNBC, the move came amidst the launch of an investigation by the Department of Justice (DOJ) in a bid to investigate the reported sum of money Google pays to Apple for making the former’s search engine the default in all of the latter’s devices. The United States regulators and official meant business not just to ensure that the top tech firms in the U.S. including Apple…

Most DEXs are unsafe, alleges new report

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14 out of 25 decentralized exchanges, or DEXs, score poorly in terms of cybersecurity, according to a recent report.  Source: CER. CER’s criteria included several factors such as whether a DEX underwent security audit, the availability of bug bounties and if it had proper SSL/TLS certificates. CER deemed any score below 6 as “low” and, thus, “not safe.” Only two of the DEXs received a “high” score: Uniswap and Syntetyx. “It is important to note that 6 exchanges (24%) failed to pass a security audit or did not publicly announce…

Cambodia launches inter-banking platform that runs on blockchain

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Amid a global race toward central bank digital currencies, or CBDCs, Cambodia officially launched a blockchain-based platform for digital money transactions called Bakong.  “Bakong, a payment and money transfer service through banks or microfinance institutions, was established under the initiative of the National Bank of Cambodia,” said an article from Dap-News on Oct. 28. The Asian country’s central bank collaborated with a number of entities on the project. Bakong first secured involvement from Cambodian financial giant PRASAC in October 2019. In January 2020, Cambodia’s central bank forecast the platform’s launch, revealing…

The blockchain revolution is already here, say Alex and Don Tapscott

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According to tech evangelists Don and Alex Tapscott, blockchain technology will prove itself the most disruptive technology of the next decade. “We now have an Internet of value that can give us another opportunity to rewrite the economic power grid and the old social order”, said Don Tapscott. However, Tapscott senior underlines that it will take a while to transform established, multi-trillion dollars industries, such as the supply chain and financial transaction sphere. Even so, Alex Tapscott pointed out that successful blockchain use cases are already gaining traction. For instance,…

Bitcoin RSI Moves Into Bull Market Territory, Here’s What Happens Next

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Bitcoin price nearly set a new higher high and confirmed a bull trend. But before the leading cryptocurrency by market cap could set a new peak, a popular trading indicator might have jumped the gun and confirmed the bull market. The rare reading on the Relative Strength Index has only happened a grand total of 14 times in more than a decade, and on average each impulse has resulted in over 239% upside. This signal has only just appeared, potentially, suggesting that the latest impulse could reach as high as…

ASX Delays Blockchain-Based CHESS Replacement to April 2023

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The Australian Securities Exchange (ASX) announced the new go-live date for the CHESS replacement system will be pushed to April 2023, delaying the launch by one year, due to replacement scope increasing and the impact of COVID-19. The announcement says: “While most CHESS users indicated they could meet the proposed go-live date of April 2022, many asked for extra industry testing, more time to prepare for the new system, and additional functionality that reduces manual processes (such as electronic corporate action elections) to be delivered as soon as possible.” On…

Putting Pressure on Bitcoin’s Lightning Network Vulnerabilities Will Strengthen It

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The Lightning Network is a young protocol, and it’s going through some technical growing pains as its tech stack grows and its network expands. While most of the vulnerabilities (covered in part one of this series) are neither protocol-breaking nor easy to exploit, they’re still reminders that improvements come with trade-offs – and that security and usability are two sides of the same coin. This is the second article in our two-part series on existing vulnerabilities in Bitcoin’s Lightning Network. Part one detailed the outstanding vulnerabilities and their risk factors.…

After Praising Bitcoin, JPMorgan Pushes JPM Coin, Sets Up Dedicated Crypto Unit

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JPMorgan Chase has revealed that its own JPM Coin is now being used commercially by a large tech company. The company has set up a dedicated crypto business unit with a focus on cross-border payments. This news follows a group of JPMorgan analysts praising bitcoin as an alternative investment to gold. JPMorgan’s Crypto Now Used Commercially Global investment bank and financial services company JPMorgan Chase has set up a dedicated crypto business unit called Onyx with more than 100 staffers, CNBC reported Tuesday. Takis Georgakopoulos, JPMorgan’s global head of wholesale…

First Mover: Bitcoin’s Latest Rally Proving Irresistible as Bitwise Assets Top $100M

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Bitcoin was lower, pausing a powerful rally that has seen the largest cryptocurrency jump 25% in October to the highest levels since June 2019. Traditional financial-media outlets like Bloomberg News were writing about it.  Prices appeared to hit resistance just below $13,900, close to last year’s high. But analysts said that if the level is breached, there appear to be few brake points before the 11-year-old cryptocurrency ascends to $14,000 or beyond.  “Between the levels of $14,000 and $20,000, there is insufficient price data to single out any specific points of resistance,”…