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Major South Korean Bank Joins the Crypto Custody Business

KB Kookmin Bank, one of the largest banks in South Korea, has partnered with blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea, to establish “strategic technology cooperation” on the custody of digital assets.The companies belonging to the partnership state that their inception into the crypto custody business is a response to regulatory changes. These changes encouraged them to look into new business models — specifically ones which rely on blockchain technology.Simon...

Future Lotteries Could Benefit From ETH 2.0’s Randomness

Discussing Ethereum’s (ETH) hackathon in partnership with the Colorado State Lottery, Vitalik Buterin opined that in the future, such lotteries could benefit from Ethereum 2.0’s Verifiable Delay Function.No immediate use for Ethereum in the projectThe Ethereum creator will be one of the guests at the virtual opening ceremony for the Colorado State Lottery GameJam Hackathon. Jared Polis and Chainlink’s co-founder, Sergey Nazarov, will also be inattendance. Buterin does not believe that the Colorado...

Gaming Industry Use of Blockchain May Lead to Mass Adoption

Blockchain technology has recently become a phenomenon in various areas of the economy, driving innovation, fostering growth and bringing added value. Among the most noteworthy of these sectors is the gaming industry. Gaming is a use case that drives true adoption of blockchain technology by taking the incentive for the user from pure speculation to transactions on a blockchain platform. This drives innovation in development as well as consumer adoption.The first true blockchain...

Chainlink Brings FX Rates Data From Top Korean Banks to DeFi

Chainlink (LINK) is integrating with CenterPrime to bring a foreign exchange, or FX, rate data feed from the Korean banks to the DeFi space.“A breakthrough for Korean fintech industry”CenterPrime, a Hyperledger based project, has access to the Korean open banking API that streams FX rate data from several local banks. According to CenterPrime’s press release, this is a major milestone for the Korean fintech space. They noted:“This integration with Chainlink marks a major...

Blockchain Could Help to Boost Global Jobs Creation

A report published by the World Economic Forum, or WEF, highlighted the critical role of fourth industrial revolution technologies. New technologies like blockchain could help stimulate growth by implementing “nature-positive” solutions following the COVID-19 outbreak.According to the “Future of Nature and Business” study shared with Cointelegraph, nature-friendly solutions could have the capacity to create 395 million jobs and generate $10.1 trillion in business opportunities by 2030.Inger Andersen, United Nations Under-Secretary-General and Executive Director...

PayPal is Hiring Crypto Engineers Amid Rumors of Bitcoin Integration

PayPal is hiring crypto and blockchain experts amid rumors that the global payment platform will enable direct cryptocurrency purchases for its 305 million users. The job descriptions they’re hiring for are publicly available on the company’s own job board.The first listing of note is for a job titled “Technical Lead - Crypto Engineer.” The listing describes that this person will be responsible for “new initiatives for PayPal global with a focus on agility,...

Turkish Real Estate Firm Antalya Homes Now Supports Bitcoin Payments

Turkish real estate firm Antalya Homes announced that its customers can now pay for properties listed on its platform with Bitcoin (BTC).According to a June 15 announcement, Antalya Homes claims to have recorded the highest-valued real estate sale ever made while using Bitcoin as a payment in Turkey.Per the company, the coronavirus pandemic forced the real estate industry to innovate. More precisely, Antalya Homes reacted by offering virtual home tours and adding support...

A16z Expects More Libra-Like Projects While Money Goes Digital in 10 Years

Andreessen Horowitz, or a16z, expects more Libra competitors to enter the space, seeing “an opportunity for a new financial network."As the venture firm’s general partner Katie Haun told Bloomberg in an interview published June 1, a16z expects money to become largely digital in 10 years, akin to music, books and other things that have moved online.Haun clarified that platforms like Venmo and PayPal are not a necessarily accurate example of digital money, since...

Russia’s Central Bank to Launch Blockchain-Powered Digital Mortgage Platform

The Central Bank of Russia is reportedly developing a digital mortgage platform powered by a domestically developed blockchain called Masterchain, local state-owned news agency Ria reported on May 28.According to Olga Skorobogatova, first deputy governor at the central bank, Masterchain has recently started to support digital mortgages, which forms a foundation for the upcoming platform. The financial institution has already submitted the proposal for its digital mortgage project to the government and the Federal...

Fortnite Fans Race to Earn ETH-Based Rewards on Reddit, Crypto Users Saunter

Within days of launching on the Rinkeby testnet, Reddit’s Ethereum (ETH)-based Community Points rewards system has seen more than 10,000 addresses created.Reddit’s points were rolled out across two subreddit communities pertaining to the topics of the popular video game Fortnight (r/fortniteBR) and cryptocurrency (r/cryptocurrency) from March 13 to March 15.Perhaps surprisingly, over 80% of wallets created on the testnet so far represent the Fortnight community.Reddit ‘Community Points’ wallets tag five-figuresWithin three days of...
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