‘Open to Massive Fraud’ — British MP Wants to Probe Facebook’s Libra

Damian Collins, a senior official at the British Parliament and known critic of Facebook, wants to probe the firm’s crypto project Libra. Damian Collins says Libra is going to be open to massive fraud  Collins, chairman of the British Parliament’s Digital, Culture, Media and Sport Committee, who led an 18-month investigation into the company following the Cambridge Analytica data scandal, reiterated his negative stance to Facebook in an interview with Financial News, a London-focused financial news outlet, on July 22. A Member of Parliament (MP) at the lower house of…

Mercedes Parent Firm is Building a Crypto Hardware Wallet for Cars

Daimler, the German multinational corporation behind the Mercedes-Benz brand, partnered with European blockchain interface solutions startup Riddle & Code to provide an open car hardware wallet solution, the startup announced in a press release published on July 22. ‘Turn automobiles into future market places’ Per the release, car wallets have a wide variety of use cases, such as car-sharing, autonomous vehicles, real-time exchange of secure traffic data and with smart city environments to reduce congestion and lower insurance premiums. The startup’s CEO Tom Fürstner declared: “Autonomous cars must behave consistently…

Watch Out Ripple, SWIFT Says Its Fastest Remittance is Down to 13 Secs

The Society for Worldwide Interbank Financial Telecommunications (SWIFT) announced a successful trial of instant cross-border transfers in Asia in a press release published on July 18. Per the release, the trial performed instant payments between 17 banks located in Australia, China, Canada, Luxembourg, The Netherlands, Singapore, and Thailand, taking up to 25 seconds, with the fastest taking 13 seconds.  The tests involved communication between SWIFT’s Global Payments Innovation (GPI) instant payment platform and Singapore’s domestic instant payments solution, FAST. SWIFT also explains that its GPI instant system uses existing payments…

Post-Halving Bitcoin to Hit $100,000 in 2020? It’s Unlikely, Data Shows

In around 300 days, Bitcoin (BTC) will experience what is known as a “halving” or “halvening”. This event, which occurs in predictable four-year cycles, sees the amount of the cryptocurrency issued every ten minutes halve, this time from 12.5 coins to 6.25 coins per block. Related Reading: Bitcoin Bears Ramp Up Selling Pressure as Weekly Close Looms; Factors & Trends This is Bitcoin’s monetary policy, which is practically set in stone due to the consensus mechanisms that Satoshi Nakamoto implemented into his brainchild. While the halving may seem mundane, with…

Bitcoin Network Now 8 Times More Powerful Than It Was at $20K Price

Bitcoin (BTC) now has more computing power behind its security than ever before, passing another milestone as hash rate reaches an all-time high.  Data from monitoring resource Blockchain confirmed that the Bitcoin network’s total hash rate reached a peak of 79 tera hashes per second (TH/s) on July 20.  Bitcoin network hash rate, courtesy of Blockchain.info Broadly accepted as a measure of how robust Bitcoin’s transaction security has become, hash rate has broken multiple records in recent weeks and months. As Cointelegraph reported, more recent all-time highs had come around…

Bitcoin Price Shuns Volatility as Analysts Warn of Potential Drop to $7,000

Bitcoin (BTC) price saw a rare spell of stability on July 22 as cryptocurrency markets began the week on a broadly stable note.  Market visualization. Source: Coin360 Bitcoin price weekly chart settled but overbought Data from Coin360 showed hardly any change for BTC/USD in the past 24 hours, bucking a volatile trend seen throughout recent weeks. At press time, Bitcoin circled $10,600, down just 0.14% while trading in the middle of a $400 daily corridor.  Bitcoin 7-day price chart. Courtesy of Coin360 By comparison, last week saw BTC/USD trade as…

Crypto and FB’s Libra Are Bridges to a Bitcoin World, Says Tim Draper

Bitcoin (BTC) will be the ultimate benefactor from interest in Facebook Libra and cryptocurrencies, billionaire Tim Draper has said.  Bridges to a ‘Bitcoin environment’ Speaking to CNBC in an interview on July 19, Draper, who is well known as a Bitcoin advocate, defended both Libra and Bitcoin against recent pressure from governments, particularly in the United States.  Asked whether the world was now in a post-Bitcoin environment, he argued that Bitcoin represented the true innovation from the cryptocurrency world, and would ultimately be the tool that reshaped borders, finance and…

Crypto Exchanges Native Tokens May Leave Bitcoin Behind

Crypto exchanges’ native tokens may serve as a decent alternative to both world reserve currencies and popular cryptocurrencies. Trading platforms stake on their own tokens as one of the main business tools, which increases their importance in the eyes of investors, primarily large institutionalists. Exchanges capable of providing liquidity to such assets increase their chances of becoming leaders in the crypto services market because they not only allow users to trade digital assets but also to participate in over-the-counter trading and ICOs. In 2019, crowdsales conducted by Binance, Huobi, KuCoin…

eToro CEO, Binance Exec Join Justin Sun’s $4.5 Million Buffett Lunch

The highly anticipated crypto power lunch between Warren Buffett and Justin Sun is growing and will now include two new members who promise to enrich the conversation between the two businessmen. eToro CEO Yoni Assia is one of them. Assia has been straightforward and actually pushed for an invitation instead of waiting for it. Would love to join as well ! I believe there is huge potential for social impact that can be done via #Crypto and would love to have @WarrenBuffett engaged with us ! https://t.co/n8G6ecm9vb — Yoni Assia…

Blockchain Project Aims to Apportion and Tokenize the Moon

A new blockchain project has launched a registry that would divvy up and tokenize portions of the lunar surface.  Dubbed Diana — after the Roman goddess of the hunt and the moon — the project launched on July 19, just one day before the 50th anniversary of the Apollo moon landing. The goal of this project is purportedly to “secure the possible right of man to the Moon to propose a solution to ‘who owns the moon.’” A lunar registry will reportedly secure access to the moon as it is…