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Months after Palestine’s current government was sworn in, the prime minister has revealed plans to develop a cryptocurrency meant to reduce dependence on Israel. According to the Anadolu Agency, Palestinian Prime Minister Mohammad Shtayyeh stated that the digital currency will assist the territory to overcome the challenges currently being experienced as a result of the […]
The post Palestine Plans Digital Currency to End Israel Shekel Dependency appeared first on CCN Markets
Chinese-based cryptomining firm Bitmain is shutting down the operations of Bitmaintech Israel, its research and development (R&D) center in Ra’anana, Israel, according to reports from local news outlet Globes.
The R&D center, which produced Bitmain’s first Israeli mining pool ConnectBTC, was launched in 2016 to explore meaningful use cases of blockchain technology, as well as artificial intelligence for the company’s Sophon project.
As the market continues its bearish run, Bitmaintech will reportedly close down its operations and lay off 23 of its employees, including Gadi Glikberg, Bitmain’s vice president of international sales and marketing, who held a managing role at the center.
The ongoing bear market has caused another cryptocurrency company to downsize its operations. Bitmain, the Beijing-headquartered bitcoin mining technology giant, has now begun shutting down its research and development center in Ra’anana, Israel.
Also Read: Former Israeli Prime Minister Calls Cryptocurrencies a ‘Ponzi Scheme’
According to reports from Israel, Bitmain’s research and development center in the country will be shut down this week. A total of 23 employees are being laid off, and Gadi Glikberg, who headed the Israeli company and served as a VP at Bitmain, will also lose his position.
Cryptocurrency mining giant Bitmain has reportedly closed down its Israel-based R&D division, citing a crypto market “shake-up.”
CoinDesk
Former Israeli Prime Minister Ehud Barak praised blockchain as an important technology but thinks bitcoin is a Ponzi scheme that should be avoided. Barak — who was prime minister from 1999 to 2001 — made the remarks at the Globes Most Promising Startups event in Tel Aviv, Israel. Barak recently invested in, and became chairman of, the medical cannabis
The post Bitcoin is a Ponzi Scheme, Says Former Israel Prime Minister Ehud Barak appeared first on CCN
Switzerland is one of Europe’s most pro-crypto countries. Home of Zug, affectionately known as Crypto Valley, Switzerland are spearheading numerous moves to cryptocurrency adoption, and are also fostering a very healthy mining industry too. As Switzerland have their own FIAT currency already, it is likely that the country will be one of the first to adopt cryptocurrency nationwide, something that could in turn spur on the rest of Europe to do the same thing.
All eyes are on Switzerland, and there’s good reason for it too.
Top leadership in Israel has long considered launching a state-backed virtual currency. Discussions have only grown as the nation’s cryptocurrency sector continues to blossom.
The Bank of Israel, as well as the nation’s Finance Ministry, has been mulling over the idea of a state-sponsored cryptocurrency since Bitcoin’s 00 price high at the tail end of 2017.
Finance Ministry officials spoke of a state-sponsored virtual currency that would be rolled out in order to lower the number of cash transactions in the nation, while cracking down on tax evasion and money laundering.
Before it was turned into an investment asset, the invention of Bitcoin promised to usher in a world where anyone can pay for anything they like without a need for getting prior approval from the powers that be. The demand for uncensorable transactions still exists, and the latest example of this comes from Israel where the largest cannabis community market has turned to bitcoin payments.
Also Read: The Weekly: Muskbots Blocked, US Candidate Accepts Bitcoin, Herd of Institutional Investors
The post [Guest Post] Tax Authorities in Israel Will Collect Information on Crypto Investors appeared first on CoinReport.
For the second year in a row, a flagship cryptography conference in Europe has devoted an entire session to blockchain technology.
It was a sign that cryptographers, who once struggled to take the cryptocurrency space seriously due to its hacks, frauds and often reckless approach to developing secure protocols, are now investing their time into the space.
The 37th annual Eurocrypt conference was held this year on April 30 to May 3, 2018, in Tel Aviv, Israel, at the Dan Panorama Hotel, steps from the Mediterranean ocean. Hosted by the International Association for Cryptologic Research (IACR), the conference was attended by 370 people. Five blockchain papers were presented on the second day of the conference, and one of those even received a “best paper” award.
The post Israel Securities Authority determines bitcoin is not security appeared first on CoinReport.
Israel Securities Authority (ISA) Committee for the Examination and Regulation of Initial Coin Offerings (ICOs) issued a series of “recommendations designed to dispel uncertainty and strike a balance between technological innovation and the protection of the investors.” Included in their findings were whether cryptocurrencies such as bitcoin are considered securities – a decision carrying major implications for future regulation.
Also read: Bitcoin Ransomware Attack Halts Major American City
