Category: Blockchain

EY Increases Its Investments in The Blockchain Market

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One of the Big Four auditing firms, Ernst & Young (EY), has increased its investments in blockchain technology, with a new injection of $100 million in funding. As announced by the firm, the decision to increase investments is due to the rise in demand for blockchain-based products. The funds will be used to fund blockchain and crypto-asset research, engineering, and services. For about 5 years now, EY has had its hands full with its engagements in blockchain technology. In that time span, the company has built several unique products including…

Luxury yacht firm accepts Bitcoin, hosts mobile and web services on blockchain

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A luxury yacht firm has announced it will begin accepting cryptocurrency for its services and expects to see an immediate 40% growth increase from Bitcoin (BTC) payments in the first year. In addition to accepting Bitcoin payments, the firm also announced that it would base its web and mobile services on blockchain technology as it provided more transactional security than any other system. The firm stated that it expects to see $6.5 million in revenue in the coming year, primarily from its yacht charter service and the bespoke experiences it…

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

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“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications. On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications. “The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY…

Coinbase (COIN) falls below $250, blockchain stocks sell off as Bitcoin dip continues

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It is well known that as goes Bitcoin (BTC), so goes the rest of the cryptocurrency market, as time and again, major price moves from Bitcoin create ripples across the altcoin market, impacting sentiment and momentum. This appears to be the same for blockchain-related stocks that trade in the traditional financial markets, and a quick glance at the charts shows they have mirrored Bitcoin’s performance over the past several months.  The cryptocurrency ecosystem was all abuzz just over one month ago when the much anticipated Coinbase stock listing finally arrived on…

Blockchain events make an in-person return

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The year 2020, for most of the inhabitants of our planet, was passed in lockdowns or quarantine due to the COVID-19 pandemic; many were forced to stay at home. Social events were canceled or postponed, and entire sectors of the world economy suffered huge losses.  The start of this year wasn’t any better, as governments across the globe are still forced to restrict events and activities to combat the spread of the disease. But there are industries that did not lose out over the past year. Cryptocurrency and blockchain technology,…

Blockchain will thrive once innovators and regulators work together

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There is often a perceived tension between regulation and innovation. A pervasive narrative has emerged that these two important parts of our society are at odds with each other. In reality, it’s when these two come together as partners that we can effect change and transform our world for the better. Nowhere is this more true than in the blockchain industry. Over the last few months, we’ve seen seemingly reactionary regulators in different parts of the world try to formulate new rules and guidance in silos, without sufficient input from…

Samsung Facilitates Blockchain Use on Galaxy Devices

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Samsung issued an official announcement to inform users that they will now be able to manage and trade cryptocurrencies from third-party wallets directly on Samsung Galaxy smartphones. This update will provide blockchain users with a more convenient and faster way to process transactions between digital assets, by transferring funds from cold storage wallets to the Samsung blockchain. Samsung’s Galaxy series smartphones currently also support hardware wallets including Ledger Nano S and Ledger Nano X. Since the Samsung Blockchain KeyStore first launched in 2019, there have been four cryptocurrencies supported by the…

Microsoft quietly closing down Azure blockchain in September

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Microsoft is turning off its corporate Azure Blockchain Service on September 10 and will not accept any new deployments effective immediately, with no official explanation provided. Large corporate customers who use Azure Blockchain include J.P. Morgan, GE Aviation, Singapore Airlines, Starbucks, and Xbox according to its website. The announcement was made in a low key post on the Microsoft documentation site on Monday, informing all current customers to migrate to alternate services. ConsenSys Quorum Blockchain Service was the only suggestion and ConsenSys founder and CEO Joseph Lubin welcomed the Azure…

Blockchain sector drives female participation through funding and education

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While it’s encouraging to see that the number of female crypto investors is on the rise, women participation within the blockchain technology sector remains low.  This was recently confirmed in a report from the World Economic Forum, which found that the COVID-19 pandemic has pushed back gender parity by an entire generation. Vesselina Ratcheva, new economy and society lead for the World Economic Forum, further told Cointelegraph that women indeed remain a minority in the blockchain industry. Funding of women-led blockchain projects Fortunately, a number of new funding initiatives are…

the changing face of blockchain

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Blockchain continues to occupy an unusual space in the contemporary tech sphere, with concepts such as “decentralization,” “transparency” and “immutability” continuing to slide between a purely technical meaning and a more overtly politicized one.  Certain blockchain advocates — at least, those still steeped in the libertarian ethos that survives the technology’s roots in the cypherpunk movement — continue to question the technology’s implementation for projects like government defense contracts, as well as its wider absorption into the traditional financial banking systems it was originally designed to circumvent. Earlier this week,…