Blockchain Featured in Big Four Firm Deloitte’s Annual Tech Trends Report

Blockchain is featured as a disrupting technology in the Tech Trends 2019 report published by Big Four audit and consulting firm Deloitte on Jan. 16. According to one article in the report, “[a]dvanced networking is the unsung hero of our digital future,” and blockchain is cited as a part of it. The report — which mentions blockchain 25 times — notes that blockchain is among the technologies the importance of which is growing rapidly and still on its path towards mass adoption. The report also cites a International Data Corporation’s…

Crypto VC Firm Seeking $60M Amid Bitcoin Rout: Good Sign?

It goes without saying that 2018’s bear season savaged the broader crypto industry. Investors lost faith, Wall Street seemingly pulled out, and entire startups collapsed as financial pressure mounted, catalyzed by a collapse of the Bitcoin price. Yet, ambitious venture groups continue to seek financiers en-masse, as arguably, bear markets are an optimal time for “buying the dip.” Pro-Bitcoin 1confirmation Seeking $60M For New Crypto Fund On Thursday, the Wall Street Journal’s “Venture Capital” column revealed that San Francisco-headquartered 1confirmation, supposedly one of the first crypto-dedicated venture groups, is looking…

Bitcoin ATM Firm Coinme to Sell Bitcoin at Coinstar Coin Counting Machines

United States Bitcoin ATM (‘BTM’) operator Coinme has entered a partnership to sell Bitcoin (BTC) at coin counting kiosks owned by Coinstar, the company confirmed in a press release Jan. 17. Coinme, which was the first BTM operator to receive a license in the U.S. in 2014, will reportedly add thousands of locations via the move, which has already seen integrations go live. CEO and cofounder Neil Bergquist commented in the press release: “Bitcoin is now accessible at your local grocery store via Coinstar kiosks, and this offering will make…

OKCoin Founder Star Xu Seeks to Acquire Public Firm for $60 Million

Star Xu, the founder of cryptocurrency exchange OKCoin, may be seeking a possible backdoor IPO for his firm by buying a majority stake in a Hong Kong-listed company. On Jan. 10, Xu (under his real name Xu Mingxing) filed with the Hong Kong Stock Exchange (HKEX) for approval to buy a 60 percent stake in a construction engineering firm called LEAP Holdings Group Ltd. Through his company OKC Holdings Corp., Xu is aiming to purchase approximately 3.2 billion shares of the company for HK$0.15 (around $0.02) per share. In total, the acquisition,…

Tech Firm IBM and MineHub Join to Build Blockchain-Based Platform for More Efficient Metals & Mining Supply Chain Solution

MineHub Technologies, Inc. and IBM announced a collaboration to use blockchain technology to help improve operational efficiencies, logistics and financing and reduce costs in the high-value mineral concentrates supply chain — from mine to end buyer. The $1.8 trillion* global mining and metals market has traditionally suffered from inefficiencies due to manual, paper-based processes and a lack of transparency between supply chain participants. Blockchain technology helps address this problem. advertisement Goldcorp Inc., ING Bank, Kutcho Copper Corp., Ocean Partners USA Inc. and Wheaton Precious Metals Corp. are all working with…

UPS Unveils Equity Investment and Partnership With Blockchain B2B Firm Inxeption

The investment arm of logistics giant UPS has made an undisclosed equity investment in United States enterprise blockchain company Inxeption, the firm confirmed in a press release Jan 16. Inxeption, which began operations in 2017, aims to use blockchain technology to improve various processes for businesses, including product design, manufacturing and supply chain management. Neither party has revealed the scope of the deal, which will reportedly see Inxeption and the UPS Strategic Enterprise Fund work in tandem in future to develop new features for Inxeption’s platform. “Business customers need secure…

Blockchain Tech Firm Blockstream Launches Beta Version of Satellite API for Data Broadcast

Blockchain technology company Blockstream is launching the beta version of its Blockstream Satellite API, designed to help developers broadcast data via the company’s satellite network. The launch was revealed in the official announcement published Jan. 16. The move follows the company’s satellite service expansion back in December, when it started broadcasting Bitcoin’s (BTC) blockchain on a global scale. Blockstream’s Bitcoin space initiative reportedly aims to free the cryptocurrency’s network from depending on land-based Internet connection and thus increase its robustness. Blockstream’s latest “data agnostic” product allows to use its satellites…

New York-based Asset Management Firm Files for Bitcoin ETF

Wilshire Phoenix, a New York-based Asset management firm, has filed for an ETF which will store bitcoin, treasury bills and the US Dollar, January 15, 2019. Coveting the ETF The journey to finally getting a Cryptocurrency ETF has been a long and elusive one. Many firms have pursued and applied to the SEC for ETF approval, with many being rejected. Despite this, yet another firm has thrown its hat into the ring as Wilshire Phoenix, an asset management firm based in New York, has announced that they are pursuing a…

Genesis Partners With Blockchain Security Firm to Provide Direct Custody Operations

Blockchain security firm BitGo has partnered with Bitcoin (BTC) over-the-counter (OTC) trading platform Genesis Global Trading. The partnership intends to allow clients to trade crypto directly from BitGo custody, according to a press release posted today, Jan. 16. Following the recent acquisition of a crypto custodian qualification, BitGo has endeavored to improve its custodial services by protecting clients’ funds through allowing them to trade digital assets without need for withdrawals from hard storage. The new feature enables clients of the BitGo custody service to conduct buy and sell orders directly from…

Following Bankruptcy Filing, Mining Firm Giga Watt Reportedly Closes Day-to-Day Operations

Major crypto mining and blockchain firm Giga Watt has reportedly closed access and power to its facilities and stopped day-to-day operations, according to a note to clients reposted in a Telegram group on Jan. 15. Following its bankruptcy filing in November 2018, the former top-five crypto mining firm reportedly notified its clients that any cryptocurrency remaining in customer wallets will be available for withdrawal until March via the Giga Watt dashboard. As for mining equipment, Telegram user JP reposted in the customer support Telegram channel an email purportedly from the…