Monthly Archives: June 2018

Bain Study: if Implemented Right, Blockchain Will Dramatically Reduce Costs for Banks

A study published by major management consultancy firm Bain & Company predicts a revolution in transaction banking via blockchain technology. Blockchain technology has the potential to revolutionize transaction banking according to a study by major global management consultancy firm Bain & Company, Cointelegraph auf Deutsch reports today, June 14. According to Bain, “transaction banking revenues tend to be less volatile than other types of banking revenues, and bankers can cross-sell products, which is critical for client loyalty.” Bain concludes in its study that this particular area of […]

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Kazakhstan’s Int’l Finance Center Supports Crypto Innovation, Calls Regulation ‘Crucial’

The Astana International Financial Center believes crypto regulation is “crucial,” noting that it also supports fintech innovation in the crypto, blockchain space. The governor of Kazakhstan’s main financial hub has stated that while cryptocurrencies must be regulated, crypto and blockchain innovation will be supported, local news outlet Kazinform reports today, June 14. Speaking at the “Blockchain Conference Astana,” the Astana International Financial Center’s (AIFC)  governor Kairat Kaliyev said specifically that the AIFC is paying special attention blockchain and cryptocurrencies: “The problem of regulation of cryptocurrencies is being […]

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Crypto Markets Rebound After News the U.S. SEC Will not Consider Ethereum a Security

All but two of the top 100 cryptocurrencies by market capitalization are back in the green, as markets bounce back in response to good news from U.S. regulators today. June 14th: all but two of the top 100 cryptocurrencies by market capitalization are are making gains, according to Coinmarketcap data. Gains in of over 10 percent in some coins are a welcome respite for investors after crypto markets took a battering over the course of last month. Today’s gains are likely due to positive news that Ethereum […]

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A Look at a Few Exchanges That Use Bitcoin Cash as a Base Currency

Over the past ten months, the Bitcoin Cash network has received a lot of support from cryptocurrency companies that provide infrastructure support including exchanges. Even though other digital currencies have yet to obtain such success in so little time, some BCH proponents are in search for an exchange that uses bitcoin cash as the base currency, and many believe trading platforms that offer this feature will be key to mass adoption. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Coinex: The Exchange That Uses Bitcoin Cash […]

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Bank of Canada: Blockchain Not More Effective Than Central Bank System ‘at This Time’

Canada’s central bank has questioned blockchain’s effectiveness in the banking sector this week. A Bank of Canada (BoC) official questioned the effectiveness and security of using blockchain tech for banking at a conference in South Korea today, June 14, according to local reports. As part of a presentation at the 2018 G20 Global Financial Stability Conference in Seoul, James Chapman, senior research director at the BoC’s funds management and banking department, also called cryptocurrency assets “a new opportunity and a threat to the financial market.” Chapman was […]

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Get Them While You Can Gamers, Graphics Cards Prices Have Crashed

As the exchange rates for all cryptocurrencies declined this year, so did the attraction of GPU mining using graphics cards. As a result, the prices of cards that can be used for both gaming and mining have been cut drastically and leveled off, bringing them back into more affordable territory.    Also Read: Censorship of Cryptocurrency Discussions on Reddit Gets Kafkaesque Bargain Bin Gone are the days of graphics cards being snatched up in bulk at premium prices far higher than the manufacturer’s suggested retail price. The […]

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Clearing Up Misconceptions: This Is How Tether Should (and Does) Work

There is substantial controversy surrounding Tether, a cryptocurrency that claims to be pegged to the U.S. dollar. According to Tether, each Tether token is backed by one U.S. dollar, held in the full reserve of Tether. But the existence of the U.S. dollars pegging Tether has been called into question. Moreover, worries exist that Bitfinex has been using Tether to the prop up the price of Bitcoin. Research into Tether shows that misconceptions exist regarding how Tether functions. These misconceptions, in turn, may be contributing in part […]

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Despite Court Order Tokyo Exchange Says It’s ‘Technically Difficult’ to Close Accounts

A court order to freeze assets stored in an account on a cryptocurrency exchange in Tokyo could not be enforced, it was learned on June 13. The exchange said it was ‘technically difficult’ to foreclose the account. A mechanism for freezing accounts on the platform has apparently not been developed yet. Experts urge crypto exchanges to put such a mechanism in place, or people could exploit the flaw to avoid seizure or to hide assets. Also read: Crypto and Virtual Reality Meet in Ken Liu’s Science Fiction […]

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SEC Director of Corporate Finance: Ether Is Not a Security

In an informal statement made at Yahoo Finance’s All Market Summit: Crypto, William Hinman, the United States Securities and Exchange Commission (SEC)’s director of corporate finance, indicated that the regulatory agency has no plans to deem ether a security. “… based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions,” Hinman said in a speech at the summit. Along with ether, Hinman stated that the SEC would not classify bitcoin […]

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Senior US Regulator Says Ethereum ‘in Its Present State’ Is Not a Security

A senior U.S. SEC official says that the Ethereum network is sufficiently decentralized for ETH to escape a securities classification. A senior U.S. Securities and Exchange Commission (SEC) official has said that leading altcoin Ethereum (ETH) will not be regulated as a security, the Wall Street Journal (WSJ) reports today, June 14. SEC Corporation Finance Director William Hinman said at Yahoo Finance’s All Market Summit: Crypto in San Francisco today that: “Based on my understanding of the present state of ether, the Ethereum network and its decentralized […]

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