The President of the Marshall Islands has survived a cryptocurrency related vote of no-confidence in her leadership, which could indicate that the Republic of the Marshall Islands (RMI) might get its cryptocurrency after all. The RMI is a small country and is currently hosting its own ICO to boost its economy. The sovereign country uses the US Dollar as its national currency … [Read more...] about The Political War for the Marshall Islands
News
IMF Chair Christine Lagarde Encourages Central Banks to Issue Cryptocurrencies
IMF chief Christine Lagarde is urging central banks to issue their own cryptocurrencies. The IMF chair is noted for having moderate views on cryptocurrency. She previously described bitcoin as volatile and with scalability issues, but simultaneously said that these issues could be resolved in future, potentially causing serious disruptions to the existing financial … [Read more...] about IMF Chair Christine Lagarde Encourages Central Banks to Issue Cryptocurrencies
Ripple CEO Brad Garlinghouse Plans to Take Over SWIFT
Reports have been circulating over the past week that a partnership is in place between SWIFT and Ripple. SWIFT is the messaging protocol used between financial institutions, essentially the transaction messaging protocol for the entire fiat financial system. But Ripple CEO Brad Garlinghouse has publicly quashed these rumors and stated that Ripple is not partnering with SWIFT, … [Read more...] about Ripple CEO Brad Garlinghouse Plans to Take Over SWIFT
EtherDelta Pulling Ahead in the Decentralized Exchange Race
There has been a lot of hype about decentralized exchanges. While most are not up to speed in terms of the promised benefits, EtherDelta seems to be one of the few that is delivering. It is intuitive and easy to use with no KYC procedures. It also runs on open source code. What is EtherDelta? EtherDelta is operated by the EtherBoost team and managed by Zack Coburn and Tina … [Read more...] about EtherDelta Pulling Ahead in the Decentralized Exchange Race
Iran Removed From SWIFT Messaging, Forced to Adopt Cryptocurrency
Due to US sanctions imposed against Iran, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) has removed the nation from its SWIFT messaging system. SWIFT messaging is the protocol used between banks to send transactions, and without SWIFT, Iranian finance is devastated. The SWIFT messaging protocol facilitates transactions between 11,000 financial … [Read more...] about Iran Removed From SWIFT Messaging, Forced to Adopt Cryptocurrency
Bank of England Denies Venezuela Access to Its Gold Reserves
The Bank of England is preventing Venezuela from repatriating its gold reserves, as per the latest reports from The Times. The repatriation is being refused because it is thought that President Maduro would use the gold for personal gain. A total of 14 tonnes is being held by the Bank of England, which amounts to USD 550 Million. US sanctions hitting Venezuela Venezuela is … [Read more...] about Bank of England Denies Venezuela Access to Its Gold Reserves
Digital Rights Management Firm Now Accepting Cryptocurrency as Payment
A digital rights management firm based in the Netherlands is now accepting cryptocurrency as a means of payment. Fintage House has signed an agreement with blockchain-based media platform TaTaTu to accept cryptocurrency for digital rights transactions. Fintage House was established in 1986 and specializes in digital rights for TV, film, and music publishing and … [Read more...] about Digital Rights Management Firm Now Accepting Cryptocurrency as Payment
Ethereum Swarm Developer Believes Law Follows Will of Code
An unprecedented development is taking place where regulations and case law are moving far too slowly for the innovations taking place in industries such as DLT and artificial intelligence. According to one Ethereum Swarm developer, who fought a seven-year court case over his Ethereum-based decentralized storage mechanism - “If you build it strong enough, the law will … [Read more...] about Ethereum Swarm Developer Believes Law Follows Will of Code
CUSD, The First USD-Pegged Stablecoin on EOS
New York blockchain startup Carbon-12 Labs (“Carbon”) has released a new stablecoin on the EOS network as per a November 9th announcement. The stablecoin is known as CarbonUSD (“CUSD”) and was previously launched on the Ethereum blockchain on September 12th. The coin can be swapped between the Ethereum and EOS blockchains. What is CUSD? Stablecoins are designed to remove the … [Read more...] about CUSD, The First USD-Pegged Stablecoin on EOS
Irish Blockchain Startup to Automatically Compensate Airline Customers
An Irish blockchain startup known as Travacoin is aiming to ensure fair compensation for airline passengers. As reported in the Irish Times, the startup is seeking EUR 1.5 Million in funding to turn its product into a fully working solution. Travacoin is based in University College Dublin and has received government funding for their project. They are currently involved in … [Read more...] about Irish Blockchain Startup to Automatically Compensate Airline Customers
Landmark Case – 16 Major Banks Sued For Rigging Fiat FX Market
As reported by Reuters, 16 major banks (mainly US-based) are being sued by institutional investors and others for rigging the fiat FX market. Blackrock and Allianz are some of the institutional investors taking the banks to court. The banks being sued include - Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan Chase, … [Read more...] about Landmark Case – 16 Major Banks Sued For Rigging Fiat FX Market
Stellar Foundation Planning Biggest Airdrop in Cryptocurrency History
Announced on the 6th of November, the Stellar Foundation is planning the biggest airdrop in cryptocurrency history thus far. USD 125 Million in Stellar Lumens tokens (XLM) are to be given away to those who have a Blockchain wallet. Blockchain (formerly Blockchain Info) are the creators of the most popular online crypto web wallet, which is facilitating the airdrop. The Stellar … [Read more...] about Stellar Foundation Planning Biggest Airdrop in Cryptocurrency History
Japanese Bank to Launch Yen-Pegged Stablecoin FBC
The First Bank of Toyama is said to be experimenting with its own stablecoin backed on a 1-to-1 ratio with the Japanese Yen, though full details have yet to be released. The Japanese bank has a market capitalization of nearly USD 26 Billion and was established in 1944. Multiple Japanese institutions launching stablecoins The new coin is to be called the First Bank Coin (FBC), … [Read more...] about Japanese Bank to Launch Yen-Pegged Stablecoin FBC
eToro Investment Platform Donates USD 1 Million to GoodDollar Wealth Inequality Experiment
Investment platform eToro has announced a USD 1 Million donation towards the GoodDollar open source wealth inequality experiment. GoodDollar makes use of a cryptocurrency which would allow the unbanked to benefit from social interest income based on a type of universal basic income (UBI). The GoodDollar experiment The GoodDollar experiment is a universal basic income model … [Read more...] about eToro Investment Platform Donates USD 1 Million to GoodDollar Wealth Inequality Experiment
Elon Musk Impersonators Steal GBP 120,000 in Bitcoin Scam
As reported by the Telegraph, bitcoin scammers were able to steal GBP 120,000 in BTC while impersonating Elon Musk on Twitter. First, the hackers took over the accounts of two UK companies, Matalan and Pathé UK. Once these accounts were taken over, the names were changed to Elon Musk, and a cryptocurrency giveaway was set up. The two company profiles kept the blue verification … [Read more...] about Elon Musk Impersonators Steal GBP 120,000 in Bitcoin Scam
Bancor X Crypto Exchange Goes Live to Facilitate Blockchain Interoperability
In a November 5th Twitter post, Bancor announced the launch of a new type of exchange which will facilitate instant cross-chain transactions between cryptocurrencies. The new exchange is called ‘BancorX,’ and it will enable seamless conversion for over 110 ERC-20 and EOS cryptocurrencies. As per the post -“We are thrilled to announce that our Cross-Blockchain Decentralized … [Read more...] about Bancor X Crypto Exchange Goes Live to Facilitate Blockchain Interoperability
US Healthcare Firm iAM Turns to Blockchain to Prevent Medical Data Fraud
Fraud is a serious concern in the US health industry, which is estimated to be worth over USD 3 Trillion. There have been multiple instances where people pose as doctors and issue unsafe medication to patients. Other fraud scenarios involve fake insurance claims through the falsification of medical data. To fight this phenomenon, a company known as Instant Access Medical (iAM) … [Read more...] about US Healthcare Firm iAM Turns to Blockchain to Prevent Medical Data Fraud
Crypto Loans on the Rise – BTC Used as Collateral for Canadian Dollars
It is now possible to attain a loan for Canadian Dollars (CAD) using bitcoin as collateral. The ability to use crypto as a form of collateral for fiat is a sign of further legitimacy for the sector. More providers are expected to follow suit and offer crypto loans, with a wider range of fiat currencies for a larger range of acceptable cryptocurrencies used as collateral. The … [Read more...] about Crypto Loans on the Rise – BTC Used as Collateral for Canadian Dollars
Deloitte Announces Plans to Place Digital Identity on the Blockchain
On November 5th, Deloitte announced via a press release a partnership with Attest Inc to facilitate government digital identity on the blockchain. Users will be able to store government and corporate identities on a distributed ledger. Through this technology people will be able to control their digital identities and who has access to them. The project is focused on giving … [Read more...] about Deloitte Announces Plans to Place Digital Identity on the Blockchain
Overstock CEO Says that Imminent Collapse Will Facilitate Global Crypto Adoption
Patrick Byrne, CEO of Overstock, has revealed his opinion that a financial collapse is imminent and that it will be the final push for global crypto adoption. Byrne cites Venezuela as a case study where a collapse of the fiat financial system has already facilitated crypto adoption. Bitcoin trade volume and DASH usage have increased drastically in Venezuela following the … [Read more...] about Overstock CEO Says that Imminent Collapse Will Facilitate Global Crypto Adoption