Monthly Archives: August 2019

Korea’s Oldest Bank Is Building a Blockchain-Based Security System

A blockchain and a fintech startup partnered with South Korea’s oldest bank, Shinhan Bank, to develop a blockchain-based security solution. South Korea’s oldest bank, Shinhan Bank, partnered with two other companies to develop a blockchain-based security solution. Korea’s Shinhan bank to enhance security with blockchain According to a report published on Aug. 14 by local news outlet TheKoreaTimes, Shinhan Bank signed a memorandum of understanding with financial technology startup Ground X and blockchain developer Hexlant to develop a blockchain security system.  Per the report, the deal will […]

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New Blockchain-Based Smart City Project Planned for Cambodian Capital

A Singaporean startup, Limestone Network, is using blockchain to sustain a smart neighbourhood at the heart of the Cambodian capital. A Singaporean startup, Limestone Network, is using blockchain to sustain a smart neighbourhood at the heart of the Cambodian capital. As Tech in Asia reports on August 14, the 100-hectare mixed-use development in Phnom Penh encompasses residential properties, offices, retail centers, schools and a large-scale exhibition hall: it counts 10,000 business tenants and a daily population of 190,000. Limestone emerged from the first round of startups in […]

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Bitcoin Price Loses $10.5K Support as US-China Trade War Tensions Cool

Bitcoin price losses 7% in 24 hours sparking criticism from naysayers but sentiment has yet to turn bearish. Bitcoin (BTC) price was feeling the pressure Aug. 14 after a fresh downturn saw the largest cryptocurrency settle below $10,500.  Market visualization. Source: Coin360 Trade war tensions relief lifts markets, sinks Bitcoin price  Data from Coin360 painted a gloomy picture for investors Wednesday, with BTC/USD trailing 7.2% daily losses. Bitcoin 7-day price chart. Source: Coin360 The latest in what has become a recognized pattern in recent months, Bitcoin reversed […]

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Coinbase Defends Against BCH Lawsuit From Users, Case Ongoing

After 1.5 years of investigation, Coinbase is found guilty not of fraud but of negligence. But the case is not completely over just yet… Cryptocurrency exchange Coinbase, launched in 2012, is considered to be one of the largest exchanges operating in the United States — and the most trusted. However, an alleged wrongdoing back in December 2017, caused a long court procedure, the outcome of which is still vague and uncertain.  It’s all fun and games until a hard fork On March 1, 2018, an Arizona citizen […]

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SEC Is Bringing ‘Thor’s Hammer’ Against Ripple, Warns Tone Vays

The veteran trader openly calls XRP a scam as Ripple lawsuit edges closer to unregistered securities verdict. Ripple is coming under fire from a serial Bitcoin (BTC) proponent this week after news emerged a lawsuit against the company has intensified. Ripple will feel U.S. regulators’ wrath, says Vays Ripple, which notionally controls the token known as XRP, is currently being taken to court by an investor, Bradley Sostack, who claims the company engaged in selling unregistered securities. As Cointelegraph reported, the stakes increased this week, after Sostack […]

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RBI’s Power Over Crypto Challenged at Length in Indian Supreme Court Today

The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country regulates them. Also read: India to Introduce Crypto Bill Next Parliament Session – A Look at Community Responses Supreme Court Resumes Hearing RBI Case The Indian supreme court resumed hearing arguments on Wednesday against the banking restriction by the central […]

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Samsung Discreetly Adds Bitcoin Support to Blockchain Keystore

South Korean tech conglomerate Samsung has quietly added Bitcoin support to its decentralized app store, Blockchain Keystore. South Korean tech conglomerate Samsung has quietly added Bitcoin (BTC) support to its decentralized app store, Blockchain Keystore. According to updated information on the Samsung Developers website, the Keystore now supports Bitcoin as well as Klaytn, the cryptocurrency released by Korean internet giant Kakao. Select devices and jurisdictions As the site outlines, Samsung’s Blockchain Keystore is supported by six of its devices — Galaxy S10e, S10, S10+, S10 5G, Note10 […]

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Hong Kong Is Paying Higher Prices for Bitcoin Amid Political Unrest

Higher prices on LocalBitcoins coincide with political uncertainty in a move copied in Argentina. Bitcoin (BTC) has begun trading at a premium in Hong Kong as continued political uncertainty produces a widely-reported spike in demand.  Copycat moves underline fiat distrust Data from P2P Bitcoin exchange LocalBitcoins showed traders paying around $300 more per coin than elsewhere on Aug. 14, which translates into a premium of around 2%. Hong Kong is the latest jurisdiction to see investors stump up a higher implied USD price for the cryptocurrency, with […]

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UK Advertising Watchdog Upholds Complaint Against BitMEX Bitcoin Ad

The United Kingdom’s Advertising Standards Authority (ASA) has upheld a complaint against a Bitcoin advertisement from top crypto derivatives exchange BitMEX. The United Kingdom’s Advertising Standards Authority (ASA) has upheld its complaint against a Bitcoin advertisement from top crypto derivatives exchange BitMEX. According to an ASA announcement dated Aug. 14, the watchdog has taken issue with the purportedly misleading nature of a graph showing Bitcoin (BTC) price performance in a newspaper ad from January of this year. ASA says it received 4 complaints As the ASA outlines, […]

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Dallas Mavericks Become Second NBA Team to Accept Bitcoin

The Dallas Mavericks have become the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise. The Dallas Mavericks have become the second NBA team to accept Bitcoin (BTC) as a means of payment for match tickets and merchandise. A tweet from cryptocurrency payment processor BitPay confirmed the news on Aug. 13.  Mavs’ billionaire owner is a crypto enthusiast Cryptocurrency adoption has been on the horizon for the Mavs since early last year, when team owner and billionaire tech investor […]

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