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Blockchain

Beijing Plans to Foster DLT Unicorns Through New Blockchain Investment Plan

The municipal government of Beijing has unveiled a 20-point plan to accelerate the development and deployment of distributed ledger technologies (DLT) and turn Beijing into both a global and national hub for blockchain tech.According to an announcement published on July 1, the plan seeks to “promote theoretical innovation, technological breakthroughs, talent cultivation,” and “create new economic growth.”The government will provide continued financial support for the plan throughout its course.Beijing wants to host...

BitMEX Launching Services for Corporate Customers

Hong Kong-based cryptocurrency derivatives exchange BitMEX is launching a new program with benefits for its corporate clients including enhanced security service, and accounting.According to a June 22 announcement on BitMEX’s support page, the exchange is launching a new program for corporate customers, BitMEX Corporate. Accounts on the crypto exchange that are not owned and operated by an individual can now ensure their BitMEX holdings are the legal property of a corporation.BitMEX said the...

How Global Stablecoins Can Promote Financial Stability in the World

In the past year, three major financial oversight bodies have voiced concerns about threats to financial stability purported to be posed by stablecoins. While acknowledging the potential for enhanced payments efficiency, reports from the Bank for International Settlements, the United States Federal Reserve and, most recently, from the Financial Stability Board all emphasize numerous risks under the banner of “financial stability.” The concern is with global stablecoins, which the FSB defines as having...

Even Putin Couldn’t Save This Dark Web Mastermind From Prison

A Russian hacker was sentenced to nine years in prison by a U.S. court on June 26. The hacker, Aleksei Burkov, was previously considered to be of personal interest by Russian President, Vladimir Putin.Exclusive cybercrime with premium $5k membership feeBurkov was accused of running a website called “Cardplanet” which sold payment card information:“Many of the card numbers offered for sale belonged to U.S. citizens. The stolen credit card data sold on Burkov’s site...

JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing

Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena.Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST.At the initial launch, KDA will be trading against...

Blockchain-Backed Digital Identity in the Post-Coronavirus Era

After spending months in lockdown, countries across the world have begun lifting stay-at-home orders enforced due to the coronavirus pandemic. Yet as countries look to reopen, and students and employees return to schools and offices, there is a fear that coronavirus cases will spike. In an attempt to ease these concerns, a number of blockchain companies are developing blockchain-based digital identity solutions designed to help regions reopen safely. Digital identity startup Civic Technologies recently...

Proof-of-Work vs. Proof-of-Stake for Scaling Blockchains

Most people in the cryptocurrency world are aware that network validation often comes in one of two forms: proof-of-work or proof-of-stake. There are others, but these systems are common and power many of the most popular blockchains. They take the same basic problem — verifying transactions — and solve it in unique ways. However, both offer different solutions to the ongoing debate over scaling. Does one have a true advantage over the other,...

China Could Roll Out Its CBDC Without Anyone Realizing

China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC.Speaking to Cointelegraph, Glenn Woo, Ledger Vault’s head of the Asia-Pacific region, predicted that China’s state-backed virtual currency will be the first to launch worldwide.Woo emphasized the speed with which China’s government can deploy major initiatives on a national scale, suggesting that its early CBDC trials with...

Driven by Financial Institutions, Stablecoin Acceptance Turns a Corner

Major financial institutions love certainty, and that will help the crypto community immensely. Let’s get down to basics: A stablecoin is a type of digital asset designed to solve the problem of the hypervolatility of cryptocurrencies.This year is an exciting time for stablecoins as interest among financial institutions picks up speed. For example, Wisdomtree, a regulated money manager, has made plans to launch a stablecoin as an extension of its business in exchange-traded...

First Turkish-German Trade Finance Transaction on Distributed Ledger Technology

A major Turkish bank completed the country’s first-ever international trade finance transaction based on distributed ledger technology, or DLT. This adds another milestone to the country’s increasing blockchain efforts.İşbank, the first Turkish bank to join R3’s Corda platform earlier this year, now became the first bank in Turkey to use blockchain technology on trade finance transactions, Cointelegraph Turkey reported on Jun. 5. Using Corda blockchain technology, İşbank and Commerzbank secured payments by digitally...
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