Monthly Archives: June 2019

Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project

Leader of House Financial Services Committee Requesting Halt, Hearings on Facebook’s Libra. Disclaimer: this story is breaking and will be subject to updates. Rep. Maxine Waters, chairwoman of the United States House of Representatives’ Financial Services Committee is requesting that Facebook halt development on its cryptocurrency, the Libra, as reported by CNN Tech Reporter Brian Fung in a series of tweets June 18. In her statement, Rep. Waters explained: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on […]

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IBM Announces New Multicloud Update to Blockchain

IBM has announced updates to its Blockchain Platform, designed to support greater use across diverse networks. IBM has announced upgrades to its Blockchain Platform, according to a report by Ledger Insights on June 18. The new IBM Blockchain Platform will reportedly be able to run on multiple cloud networks, such as major tech corporation Microsoft’s Azure or Amazon Web Services (AWS). This is apparently the main upgrade over its previous iteration, which was available solely through IBM’s cloud. The multicloud platform will be available via Kubernetes, a […]

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Brazilian BTC Exchange Faces Numerous Lawsuits From Clients Unable to Access Funds

Bitcoin Bank Group faces numerous lawsuits from customers unable to withdraw funds from its cryptocurrency exchange, BBG claims delays are due to malicious activity. Clientele from multiple states in Brazil have filed lawsuits against bitcoin (BTC) investments firm Bitcoin Bank Group for inaccessible crypto funds, according to a report by Cointelegraph Brasil on June 18. The lawsuits are reportedly over issues with users being unable to withdraw funds from the BBG’s associated cryptocurrency exchange, Paraná-based NegocieCoins. As of press time, the page for NegocieCoins on crypto market […]

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Italy’s Banks to Use Blockchain to Boost Settlements and Improve Transparency

Italian banks will deploy blockchain technology to run reconciliations and improve transparency in transactions between banks. Italian banks will deploy blockchain technology to run reconciliations starting in March 2020, financial technology news outlet Finextra reported on June 18. The Italian Banking Association (ABI) has announced that Italy’s banks will integrate distributed ledger technology (DLT) into internal processes to boost settlements. The deployment of blockchain is also set to improve transparency in transactions between banks and efficiency of communication between counterparties. The initiative comes as part of a […]

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Global Banking Giant HSBC Launches Tokenization-Based Receivables System for India

HSBC has deployed tokenization tech in its receivables infrastructure for corporate clients in India. Major global banking group HSBC has implemented tokenization technology into its receivables infrastructure for corporate clients in India, according to an announcement on June 18. The British multinational financial services company has reportedly launched its Digital Accounts Receivable Tool (HSBC DART), based on tokenization technology developed by Australian blockchain-powered Fintech company Identitii Ltd., the firm said in the announcement. According to the statement, HSBC DART was developed for HSBC’s Global Liquidity and Cash […]

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Litecoin Foundation to Release Physical Cryptocurrency Debit Card

The Litecoin Foundation has announced a partnership with Bibox Exchange and blockchain firm Ternio to release a physical cryptocurrency debit card. The Litecoin Foundation has announced a partnership with Bibox Exchange and blockchain firm Ternio to release a physical cryptocurrency debit card, in a blog post on June 18. Per the post, the companies will jointly roll out a cryptocurrency debit card dubbed “BlockCard” that will purportedly let users spend their cryptocurrency funds both online and in physical store locations around the world. Customers will be able […]

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Experts Cite Specialization as Key to Blockchain’s Incorporation Into Financial Services

Panel of experts from Digital Asset, ISDA, UBS, and Barclays discussed next steps in blockchain incorporation into financial services. Four experts discussed the future blockchain in financial services, agreeing on the importance of specialization in a panel on crypto derivatives at Synchronise Europe in London today, June 18. Some of the original conceptualisation of blockchain needs to be available publically to be materially modified to suit the needs of diverse financial services, said Kelly Mathieson, head of enterprise solutions at Digital Asset. Mathieson argued that enterprise grade […]

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Bitmain Launches Low-Cost Special Edition Antminer S9

On Monday, June 17, the Chinese mining rig manufacturer Bitmain Technologies announced the launch of a low-cost miner called the Antminer S9 version SE. The new 16 terahash per second (16TH/s) S9 SE is $350 per unit and the launch celebrates the company’s most popular product, the original S9. Also read: Report Insists ‘Bitcoin Was Not Purpose-Built to First Be a Store of Value’ Special Edition S9 With 16 Terahash per Second Bitmain has launched yet another product for solo miners and large operations, but this particular […]

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French Minister of Economy to Ask for Guarantees From Facebook In Regards to Its Forthcoming Coin

French Minister of the Economy and Finance, Bruno Le Maire intends to ask Facebook for guarantees for its forthcoming digital currency Libra. French Minister of the Economy and Finance intends to “ask for guarantees” from Facebook in regards to its forthcoming digital currency Libra, media outlet Europe 1 reported on June 18. The Minister of the Economy and Finance, Bruno Le Maire told Europe 1 that Facebook’s long-awaited stablecoin Libra is an “attribute of the sovereignty of the States” and should “remain in the hands of the […]

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Head of Facebook’s Libra Distances it from BTC: we’ll Share Information with Authorities

Head of blockchain at social media giant Facebook David Marcus said that the Libra Project will distance itself from Bitcoin and will share information with authorities. Head of blockchain at social media giant Facebook David Marcus said that the Libra Project will distance itself from bitcoin (BTC) and will share information with authorities, Cointelegraph Brazil reports on June 18. Per the report, Marcus made his remarks during an interview with Brazilian newspaper Estado de São Paulo, which was published today. During the interview, he said that Libra’s […]

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