Recent Posts

Bitcoin Price Continues Record-Breaking Run to Top $1,500

Bitcoin’s price is hitting new highs yet again this week, after passing the $1,500 mark during overnight trading. According to the CoinDesk Bitcoin Price Index (BPI), markets climbed to as much as $1,540.71 in the past few hours of trading. The $1,500 price point was first crossed at around 1:15 …

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Jack Ma-Backed Tech Firm Invests in Blockchain Startup Symbiont

Blockchain startup Symbiont has raised an undisclosed sum from Chinese software firm Hundsun Technologies. Hundsun, according to data from Thomson Reuters, provides software services to financial institutions such as banks, brokers and exchange operators. The firm is partly owned by Chinese billionaire Jack Ma, who founded e-commerce giant Alibaba, after …

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Australia Reaffirms Pledge to Fix Bitcoin Tax Issue

Australia’s government is pushing ahead with plans to solve the “double taxation” problem of digital currencies in the country. The government pledged more than a year ago to solve the policy dilemma, wherein Australian businesses are liable for goods-and-services (GST) taxes on any bitcoin sold – as well as taxes …

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Police Are Holding OneCoin Promoters in Custody in India

Indian police are continuing their efforts to recoup funds from promoters of OneCoin, a digital currency investment scheme widely believed to be fraudulent. Localreports indicate that investigators in Mumbai continue holding more than 18 individuals in custody for further questioning after they were arrested last week by undercover officers. OneCoin …

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A UN Agency is Exploring Blockchain’s Impact on Trade

A UN agency dedicated to facilitating international and national trade is putting together a pair of white papers centered on blockchain technology. A project proposal detailing the work was published yesterday by the UN Centre for Trade Facilitation and Electronic Business (CEFACT), a subsidiary of the Economic Commission for Europe. …

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Major Credit Unions Will Unveil New Blockchain Tech Next Week

A blockchain initiative backed by dozens of US credit unions is set to give a live demonstration next week. CULedger, a consortium project unveiled late last summer, is supported by more than 50 credit unions and four of the biggest credit union service organizations in the US. Spearheading the project …

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Bank of America Eyes Adoption as Next Hurdle For Ethereum Test

Bank of America has revealed progress on a blockchain application designed to make it easier for global treasuries to do business with new customers. At a Microsoft event last week, Bank of America’s director of trade and supply chain finance, Ann McCormack, showcased a new version of the ethereum-based application, …

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ECLAC: Central Bank Digital Currencies Could Empower Dictators

A central bank-issued cryptocurrency could be dangerous in the hands of a dictator, according to a recent UN report. The UN Economic Commission for Latin America and the Caribbean (ECLAC) published a new report on 1st May which explores how blockchain-based systems could help improve conditions in the region’s financial …

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Analysts Predict $100 Price for Ethereum’s Ether Token

The price of ether rose a meteoric 65% in April to touch $80, but already analysts are predicting that the digital token could pass $100 – and soon. In remarks to CoinDesk, cryptocurrency hedge fund managers were perhaps the most bullish about this projection, stating that they believe it will …

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Coinbase Users Can Now Buy and Sell Litecoin

Coinbase is officially adding support for the digital currency litecoin to its wallet offering. The decision comes months after Coinbase’s digital asset exchange, GDAX, added support for litecoin trading, though the startup has long teased the prospect of additional litecoin integrations – its creator, Charlie Lee, serves as the startup’s …

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Hyperledger Adds ‘Indy’ and ‘Composer’ Blockchain Projects

The Linux Foundation-backed Hyperledger blockchain project got a little bit bigger this week. Yesterday, the group’s blog showcased Project Indy, which is focused on digital identity tools for blockchain ecosystems. Indy is being spearheaded by a group called the Sovrin Foundation, founded last year to provide solutions for decentralized identity. …

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LocalBitcoins User Pleads Guilty After Undercover Sting

A LocalBitcoins user based in Missouri has plead guilty to running an unlicensed money transmission business. According to a statement from the US Attorney’s Office for the Western District of Missouri, Jason Klein plead guilty to the charge yesterday after selling bitcoin to two undercover agents on five occasions between …

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R3’s Newest Regulator Looks to DLT For KYC Testing

“We realized that we needed to test it ourselves.” When reading up on blockchain tech and attending conferences proved insufficient, Quebec’s financial regulator, Autorité des marchés financiers (AMF), decided to take the next step in its quest to better understand distributed ledgers. To that end, the AMF announced last week …

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ECB: Blockchain ‘Principles’ Could Help Spur Adoption

The European Union’s central bank recent commented on how the economic bloc could move to encourage the spread of new technologies like blockchain. The commentary was featured in a recent statement from the European Central Bank (ECB) as part of a comprehensive review of the region’s capital markets, a process …

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Defense Giant Lockheed Martin Integrates Blockchain

The largest defense contracting firm in the world has announced plans to leverage blockchain technology in its operations. Revealed last week, Lockheed Martin is now working with Virginia-based GuardTime Federal to integrate blockchain into its supply chain risk management, a deal that comes two years after the two firms began …

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