Category: Blockchain

China to upgrade national blockchain standards by 2025

Chinese officials have been actively developing its fintech industry, with a strong focus on blockchain technology, despite their stringent stance on cryptocurrencies. On March 28, the Ministry of Industry and Information Technology (MIIT), a watchdog for the Chinese fintech industry, said it intends to improve standards for its blockchain technology development by the year 2025. The information comes from a draft of its guidelines published on the ministry’s website, which also calls for public opinion on the matter of blockchain development from “all walks of life.” China plans to have…

Symphony COO Joins IOG CEO Cardano Blockchain Project

Input Output Global (IOG) is a software research and development company that played an imperative role in developing the blockchain platform Cardano. In its recent announcement, the company appointed Eran Barak as the CEO of its latest data-protection protocol, Midnight. This new protocol is set to offer new features that mainly comprise advanced security features to improve the privacy and protection of users’ data on the Cardano network. This recent move from IOG is targeted to strengthen its position in the blockchain industry by meeting the growing demand for data…

An overview of fake product detection using blockchain technology

Digital identities can help in fake product detection by providing a unique and verifiable identity to each product, making it easier to track its movements through the supply chain and verify its authenticity, thereby preventing the circulation of fake products. In the modern era of e-commerce, the problem of fake products is prevalent, and it poses significant risks to both consumers and manufacturers. However, digital identities can play a crucial role in detecting and preventing fake products from entering the market. Digital identities provide a secure and reliable means to…

Binance expands with blockchain hub in Georgia

Binance, one of the world’s largest cryptocurrency exchanges, is expanding its global reach with the opening of a new blockchain hub in Georgia. The move is aimed at promoting further adoption of cryptocurrencies in the country, creating more job opportunities, and attracting talent to the Georgian blockchain sector. Binance referred to the hub as a “Web3 outpost,” and it intends to use it to promote industry education and innovation, as well as to organize educational and hackathon events. The hub is expected to create dozens of new jobs by the…

Titanium Blockchain CEO Sentenced to Four Years in Prison

In a cryptocurrency fraud scheme that took place in late 2017 and early 2018, investors purchased BARs, a crypto token, to participate in an initial coin offering (ICO) for Titanium Blockchain Infrastructure Services (TBIS), a company founded by Michael Stollery. The ICO raised approximately $21 million from investors in the United States and overseas. However, in 2018, the United States Securities and Exchange Commission (SEC) accused Stollery of not registering the ICO with the regulator and other allegations. In July 2022, Stollery pleaded guilty to one count of securities fraud…

Titanium Blockchain CEO Gets 4 Years Jail Time For BARs ICO Fraud

Titanium Blockchain chief executive Michael Stollery has been handed a four-year prison sentence for his involvement in a 2018 initial coin offering scandal that left investors $21 million out of pocket.  Stollery, who founded Titanium Blockchain Infrastructure Services (TBIS), was a central figure in what the U.S. Department of Justice has called a “cryptocurrency fraud scheme.” The scheme revolved around an ICO for TBIS that took place between late 2017 and early 2018, and the Titanium Blockchain big boss was instrumental in its orchestration.  The case is just the latest…

Zipmex Misses Buyout Payment | Blockchain News

According to recent reports, the Singapore-based cryptocurrency exchange known as Zipmex has failed to make a payment totaling $1.25 million as required by the terms of its buyout agreement with V Venture. V Venture is a venture capital firm that is owned by the Thai shipping company known as Thoresen Thai Agencies. Zipmex warned V Venture in a letter that if the money was not received, it was possible that the company would have to begin the process of liquidating its Zipmex Technologies segment and halt wages. The activities in…

Crypto Market Sees Boost as Banking Networks Falter – Blockchain News, Opinion, TV and Jobs

The cryptocurrency market is seeing a surge in popularity as traditional banking networks struggle to keep up with demand. With the recent collapse of Silicon Valley Bank, people are increasingly looking for alternative ways to take control of their money and ensure that it is safe. Bitcoin, in particular, is outperforming 97.6% of the 500 leading publicly traded companies in the U.S. In fact, since March 10th, the price of bitcoin has risen by 37.06%, beating the year-to-date returns of 488 S&P companies, including FedEx, Apple, and Amazon. According to…

A Closer Look? – Blockchain News, Opinion, TV and Jobs

Several countries in Europe, including Sweden, France, and Germany, have been exploring the possibility of launching their own Central Bank Digital Currencies (CBDCs). In February 2021, the European Central Bank (ECB) launched a two-year investigation into the viability of a digital euro. However, concerns have been raised about the potential impact of a digital euro on the commercial banking system and the privacy of users. In the United Kingdom, the Bank of England is also exploring the possibility of launching a digital version of the pound sterling. The bank has…

Crypto Industry Receives Protection with New Blockchain Regulatory Bill

Member of the US House of Representatives and Majority Whip Tom Emmer has recently introduced a new bill to provide regulatory clarity for the blockchain and cryptocurrency industry. The bill is called the Blockchain Regulatory Act (BCRA). According to Emmer, the purpose of this bill is to establish legal clarity for blockchain developers and service providers who do not hold or manage consumer funds. The bill proposes that these entities should not be considered money transmitters subject to “stringent” regulation.  Additionally, the BCRA is a bipartisan bill co-led by Representative…