The Marshall Islands will soon circulate physical banknotes representing the world’s first decentralized national digital currency. This is happening under an agreement with Tangem, a Swiss maker of blockchain-enabled smart card wallets for cryptocurrencies. “We are excited to partner with the Republic of the Marshall Islands to do something that has never been done before: issue a digital currency as official legal tender,” Tangem co-founder Andrey Kurennykh gushed in a statement. Smart Card with Microchip and NFC Antenna The physical banknotes will take the form of a smart card powered by a blockchain-enabled microprocessor. Tangem says its technology enables users to
Fnatic, a professional esports organization headquartered in London that fields teams in multiple games including Fortnite, CS:GO, League of Legends and Rocket League, sees unregulated gambling as one of the more pressing issues facing the booming esports industry. Know who’s legit, be legit 👮♂️🚨👮♀️ We want to highlight the issue of unregulated gambling in esports and make sure you can […]
A survey commissioned by the bank of central banks, the Bank of International Settlements, has disclosed that even though Central Bank Digital Currencies (CBDC) are being researched by a big number of reserve banks, the work is mostly conceptual. Consequently, only a handful of them have any intentions of issuing a CBDC in the near
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Apple is in deep trouble. With a ten percent drop in its stock price on the day and low sales forecast in China, the technology behemoth is facing a tough quarter ahead. Samsung, the largest conglomerate in South Korea, is also struggling to deal with low sales. As smartphones users feel less compelled to acquire … Continued
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Payments company Square is moving into new markets by issuing business loans and will soon move to consumer lending. Its data collecting and analyzing algorithms are deciding creditworthiness letting borrowers arrange their loans in a few taps. According to WSJ reporting, one Texan food truck owner accepted a loan offer within the Square app, then
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Citing “informed sources,” Japanese press outlet JIJI Press reports that the Japanese Financial Services Agency is soon to regulate Initial Coin Offerings. The regulation will involve investment limits “for better protecting them.” Similar to how securities tokens are required to register with the American SEC in the United States, companies which intend to issue virtual
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A state-owned financial institution in the United Arab Emirates, Al Hilal Bank, has made history by becoming the world’s first Islamic bank to execute a Sukuk (Sharia-compliant bond) transaction on a blockchain. In a secondary market deal, Al Hilal Bank used blockchain technology to resell and settle a portion of a US$ 0.5 billion Sukuk issued
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Over the past week, the price of Bitcoin has dropped by more than 35 percent, and the majority of analysts in the crypto space have shared the sentiment that the crash was triggered by the contentious hard fork of Bitcoin Cash. According to Bart Smith, the head of digital asset at trading giant Susquehanna, a
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In Sunday’s edition of The Daily, we cover the upcoming launch of a new Visa debit card that will allow users in the U.S. to spend cryptocurrencies through conversion to fiat. We also mention the updated Coinbase wallet and take a look at an educational course that’s going to reward students with digital coins.
Crypto.com to Launch Prepaid Visa Cards in the US
New York-based Metropolitan Commercial Bank and Foris Inc., a Jacksonville, Florida-headquartered affiliate of digital asset wallet provider Crypto.com, are preparing to issue Visa crypto debit cards in the United States. The announcement comes after Crypto.com, a Hong Kong-based company formerly known as Monaco, recently launched its Mco Visa card program in Singapore.
The verification process of educational credentials in the Caribbean will now be faster after the regional examinations body announced it will begin offering blockchain-based certificates and diplomas to selected candidates. In a statement, the Caribbean Examinations Council (CXC) revealed that it will issue blockchain-based academic certificates starting October 31, alongside the traditional paper-based certificates, to
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On September 24, 2018, MIT Connection Science and IBM issued a 41-page joint report on the results of three roundtable discussions on the role of Blockchain in government. Authored by MIT’s technical director at the MIT Internet Trust Consortium, which is part of MIT Connection Science, Thomas Hardjono, the findings illuminated discussions held by private and public sector leaders on the blockchain’s impact for government on digital identity, payments and supply chain/provenance.The report was released in consultation with the Congressional Blockchain Caucus.
Keeping a cryptocurrency safe and secure from harm is a full time responsibility. Even in the case of Bitcoin, new flaws can be discovered after nearly 10 years of ongoing development. One such issue has been disclosed earlier this week, as it caused a denial-of-service issue with Bitcoin Core 0.16.2.
The Bitcoin Core DoS Issue
In the world of cryptocurrency, denial-of-service incidents are rather uncommon. Although it is possible to completely cripple smaller-cap blockchain projects with some effort, one would not necessarily expect such issues to present themselves where top currencies are concerned. In the case of Bitcoin, it seems such a vulnerability has been present for quite some time now.
The European Central Bank has no intentions of issuing a central bank digital currency. According to its president Mario Draghi, the current economic conditions fail to justify a need for it.
Cash Remains King
Speaking in front of the European Parliament, the president of the European Central Bank Mario Draghi touched on the matter of cryptocurrencies and whether or not the European Union needs a central bank digital currency.
He outlined a few reasons for why the ECB “has no plans” to issue a unified digital currency.
Malta is not worried about crypto companies operating while their applications for licenses are still pending as the loophole does not mean they are free from obligations under the current regulations, officials from the island nation commented. Also in The Daily, a €3 million palazzo in Valletta has been put up for sale and the owner takes only cryptocurrency, a project aims to turn a Great Barrier Reef island into a crypto micro-economy, and a hotel in Perth cuts third parties out of the booking process using cryptocurrency.
If blockchain projects seek adoption by enterprises, their open-source license will have a material impact on the rate of adoption, say legal experts.
The World Bank and Australia’s largest bank, the Commonwealth Bank of Australia, have issued a public bond exclusively through the blockchain. The $ 100 million AUD ($ 73.16 million USD) deal is made up of two-year bonds. It expected to settle by August 28, 2018 and yield a 2.25 percent return.
The prototype bond, dubbed “Bond-i” (Blockchain Operated New Debt Instrument) is seen by participants as a milestone and a step forward toward automation of bond sales.
Chinese regulators including the central bank have issued a new joint statement condemning illegal fundraising by schemes purporting to affiliate with cryptocurrency and blockchain technology. Issued on Friday, the warning comes as a joint statement from the People’s Bank of China – the country’s central bank, the Ministry of Public Security, the Banking Regulatory Commission, … Continued
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The Indian Supreme Court has adjourned its hearing of the petition against the Reserve Bank of India (RBI) ban on banks facilitating cryptocurrency transactions. The apex court will deliver its final judgment on the matter on September 11, 2018.
Hearing Adjourned till September 11
Indian cryptocurrency traders still have a fair bit of waiting to do before knowing the fate of the market in the country. According to a series of tweets by Crypto Kanoon, a team of lawyers engaged in the virtual currency market, the nation’s apex court today (July 20, 2018), adjourned a hearing on the petition filed against the RBI ban to September 11, 2018.
The Pirate Bay (TPB) has resumed its cryptojacking activities. The P2P file-sharing platform launched another browser script that hijacks unused CPU power of site users to mine cryptocurrency. TPB launched a similar browser script in September 2017 but discontinued it after vociferous protests from site users.
TPB is Running the Crypto Loot Web Miner
According to reports, the platform is running the web miner script called crypto loot. In a post on the TPB forum from June 2018, a user on the platform first reported the presence of the mining script on the TBP platform.