Category: Blockchain

Conflux and China Telecom debut first on-chain interaction with Blockchain SIM card – Blockchain News, Opinion, TV and Jobs

Conflux Network, the first regulatory compliant public blockchain in China and global communications network, China Telecom, today unveiled its jointly developed Blockchain SIM (BSIM) card at the Xuhui District West Bank Artificial Intelligence Center in Shanghai. In a world first, the BSIM card is a mobile user identification card based on blockchain technology. With an appearance nearly identical to traditional SIM cards, the BSIM card is fully compatible with mainstream mobile terminal systems such as Android and iOS. It also boasts storage space 10-20 times larger than traditional SIM cards…

Libra-related Sui blockchain fixes critical bug that put ‘billions’ at risk

The Sui blockchain network quietly fixed a bug that could have put “billions of dollars” at risk, according to a May 16 announcement from Zellic, the security firm hired to audit the network’s security. Loss of Funds Bug in Aptos and Sui Quick spotlight on an unpublished (but fixed) loss-of-funds bug in the move verifier that seems to have been found by @zellic_io. This would have allowed many types of exploits against Aptos or Sui based protocols. — Jasper | Neodyme (@JasperCPS) April 11, 2023 The bug was in a…

US Secret Service holds crypto, praises blockchain tech in Reddit AMA

The United States Secret Service owns crypto, has its own NFT collection, and has praised blockchain technology’s ability to fight financial crime, Reddit users learned during a recent ask-me-anything (AMA). On May 15, representatives from the United States Secret Service San Francisco Field Office and the Bay Area Regional Enforcement Allied Computer Team (REACT) opened themselves to questioning from members of the subreddit, r/cryptocurrency. While some regulators still see crypto as a tool for fraudsters and scammers, the REACT task force applauded the public and transparent nature of blockchains as…

Ripple Gains Recognition As Blockchain Leader by Dubai Government Media

The Dubai government’s official media has praised the blockchain company Ripple as a leader. The recent spotlighting is coming shortly after the firm launches its new business office in the country. Dubai Government’s Media Office Spotlights Ripple The official media Twitter page of the Dubai government spotlighted the blockchain company behind the crypto asset XRP. The tweet recognized the firm as a prominent player and a master in enterprise blockchain and crypto solutions. The government’s media office praised while responding to the expansion move into the country. It further highlighted…

Venom To Launch A Blockchain Hub With Kenyan Government

Abu Dhabi, UAE, May 10th, 2023, Chainwire Venom Foundation has announced a strategic partnership with the Government of Kenya to establish a “blockchain hub” in Africa, focusing on the development of Web3 and blockchain technology applications. This collaboration aims to drive innovation in key sectors such as financial infrastructure, supply chain, agriculture, SMEs, and cross-border trade, benefiting Kenya and the entire African continent. More than 84% of the Kenyan population have access to financial services through banks and fintech. However, with the implementation of blockchain infrastructure as a long term…

Former Coinbase Employee Sentenced | Blockchain News

On May 9th, 2023, a federal judge in the United States District Court for the Southern District of New York sentenced Ishan Wahi, a former product manager at Coinbase Global, to 24 months in prison for insider trading. Wahi had used confidential information he obtained during his time working at Coinbase to profit off new listings of tokens, totaling up to $1.5 million. The judge, Loretta Preska, sentenced Wahi to two years in prison and ordered him to surrender by June 21st at 2:00 PM ET to serve his sentence…

Federal Reserve’s FedNow will integrate with Metal Blockchain

The Federal Reserve’s forthcoming instant payment service FedNow will be integrated with Metal Blockchain, according to a May 11 announcement from the Metal Blockchain team. The announcement said that the integration will allow Metal users to instantly convert funds to stablecoin and back again using FedNow’s “send/receive” function. Metal Blockchain’s listing in the FedNow Service Provider Showcase. Source: FedNow FedNow is an instant payment system developed by the United States Federal Reserve. It allows for round-the-clock, near-instant payments between banks. Currently, U.S. residents can only make instant payments domestically through…

DOJ Crypto Enforcer Says Blockchain Is Everywhere in Crime, Clashing With Industry’s Self-Perception

While scams like these often only damage a single victim at a time, it can still be big money. NCET, along with other agencies, booked upwards of $112,000,000 from busting six such U.S.-based scams. The Federal Bureau of Investigation (FBI) estimates $3.31 billion was stolen from people in 2022 through investment fraud, with crypto-related scams accounting for more than a third (~$2.57 billion) of that figure. Worse than just money lost, the proliferation of confidence games – which require bad actors to cultivate long-term relationships and build trust with their…

China Establishes Blockchain Centre To Train 500,000

China inaugurated its national blockchain center recently in Beijing and this newly established national research center aims to play a pivotal role in developing the country’s Web 3 industry. The research center has already set a target to train at least 500,000 proficient professionals. It will reportedly foster partnerships with local universities, think tanks, and blockchain enterprises to drive the advancement of technology within the country. The research center has been backed by the Ministry of Science and Technology to promote the industrialization of the blockchain industry. Furthermore, the objective…