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UAE Sees Key Role For Crypto As Gulf State Eyes To Boost Trading Policies

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The United Arab Emirates (UAE) is looking to adopt cryptocurrency in a ‘major role’ in its trading policies, according to a report by Bloomberg.

Speaking with Bloomberg Television in Davos, Switzerland – where the World Economic Forum is currently being held – UAE’s minister of state for foreign trade, Thani Al-Zeyoudi, made some positive statements on the potential role of cryptocurrency in the economy of the gulf nation.

“Crypto will play a major role for UAE trade going forward,” said Al-Zeyoudi. For years now, the UAE government has been working on transforming the nation into a global crypto hub, mainly by implementing crypto-friendly policies with the goal of attracting the big guns in the $ 1 trillion industry.   Read more...

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Bitcoin’s Lightning Capacity Soars, Why The U.S. Plays A Big Role

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One of the largest Bitcoin Lightning Network (LN) node operators, River Financial, recently posted a report on this second-layer payment solution. Previously conceived as an experiment used by savvy BTC holders, the LN is quickly becoming a key component in this blockchain’s ecosystem and its potential ticket into the mainstream.

The report defines the LN as a second-layer Bitcoin solution that enables users to send and receive transactions off-chain, “without needing to wait for on-chain settlement”. This solution was created to improve BTC’s payment scalability by allowing entities to quickly transact in small amounts of the cryptocurrency without relying on block settlement.  Read more...

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Reversible Transactions Can Play A Key Role In Driving Crypto Adoption

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The irreversibility of blockchain transactions is often touted as proof of crypto’s security. Because a transaction cannot be undone, there is no way for scammers to initiate a chargeback after they have transferred funds to purchase a product. It provides the ultimate level of protection for sellers – especially those who might have been burned in the past using a third-party service such as PayPal, where chargebacks are not only common but also very difficult to challenge in the event of being scammed.  Read more...

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[Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked

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[Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked
by Ray Youssef, Co-Founder & CEO of Paxful Bitcoin and cryptocurrency as we know it was born from Satoshi Nakamoto’s dream of creating a peer-to-peer electronic cash system. The white paper proposed a system that would replace the need for central authorities like banks and financial institution…

The post [Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked appeared first on CoinReport.

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Op Ed: Hanging Money Launderers Out to Dry: The Role of KYC/AML in Blockchain

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GP blockchain AMLKYC.jpg

Crime isn’t supposed to pay, but sometimes the wages of sin are paid in bitcoin. Last week, Japanese police reported that 2018 saw a tenfold increase of cryptocurrency money laundering. In 2017, Japan’s National Police Agency discovered fewer than 700 instances of crypto money laundering. Last year, they found more than 7,000 cases. What is it about this new asset class, which is enabled by blockchain distributed ledger technology, that makes it so appealing to criminals? And what can be done to keep cryptocurrency clean?  Read more...

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Executive Shuffle: Bitmain’s Co-Founders Step Back From the CEO Role

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Chinese crypto mining giant Bitmain is in the process of naming a new CEO as it continues to shake up and scale down its operations. According to a recent report by the South China Morning Post that cites two inside sources, co-founders Jihan Wu and Micree Zhan, who’ve served as Bitmain’s co-CEOs, are planning to take a step […]
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Why South Korea Will Play a Major Role in Cryptocurrency Adoption

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As a high-tech hub known for its consumer electronics, tech giants, esports, and global innovation, perhaps it’s not surprising that a report by Cindicator revealed that South Korea will play a major role in cryptocurrency adoption. By reviewing existing data on exchange volumes, recent economic history, regulation, and trends, the tokenized fintech asset management company

The post Why South Korea Will Play a Major Role in Cryptocurrency Adoption appeared first on CCN

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IBM/MIT Connection Science Issue Report on the Role of Blockchain in Government

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IBM MIT report

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.  Read more...

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Japanese Crypto Firm Snaps up a Deutsche Bank Heavyweight for Strategist Role

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Japanese crypto firm FXcoin has recruited Deutsch Bank’s former foreign-exchange dealer, Yasuo Matsuda as a senior strategist for the cryptocurrency startup. According to Business Times. the Japanese cryptocurrency startup which was founded by Deutsch Bank AG veteran, Tomoo Oshi, hired the alumnus of the German lender to furnish the startup with daily reports on market

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Bitcoin’s New Role In Sex Scams

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Bitcoin’s New Role In Sex Scams

According to new findings, sextortion scams have made around $ 500,000.00 worth of Bitcoin in the past couple of months in a trend that is seeing more and more people fall for fraudulent emails that claim to have video evidence of the victim ‘misbehaving’.

What is a Sextortion scam?

A sextortion scam exists as an email that suggests the victim has been videotaped watching porn or masturbating. The emails threaten the victim with sending the video to family and friends if they don’t pay a ransom (usually in Bitcoin) by a select deadline.  Read more...

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