Coinbase exchange is set to surpass 1 million Bitcoin (BTC) held in cold storage

Bitcoin Cold Storage

Unlike the trading volume that is an easy-to-fake metrics, as the widely circulated Bitwise report from last year found that 95% of reported volume on unregulated exchanges is “fake,” cold storage data provides a better picture. This data comes from analysis of on-chain transfers and though not all cold wallet addresses can likely be identified with accuracy, these numbers are quite difficult to fake. Coinbase Beats Every Exchange Now, as per the data provided by Chain.info, Coinbase is leading among the exchanges with the largest amount of Bitcoin in their…

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It’s never been harder to mine Bitcoin

Bitcoin hash rate (1-day moving average) versus price Source Glassnode

The mean hash rate of the Bitcoin (BTC) network has hit new all-time highs to mark the cryptocurrency’s latest technical achievement, fresh data suggests. Compiled by monitoring resource Glassnode, a new analysis of Bitcoin’s historical hash rate shows that on Jan. 7, the mean value reached 119 quintillion hashes per second — its best ever at the time. Consensus on BTC hash rate record Hash rate refers to the amount of computing power miners are using to validate the Bitcoin blockchain. The more power, the more notionally secure the blockchain…

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BitFury partners with UN

UN forrest

Blockchain development firm Bitfury is set to partner with the United Nations Development Programme (UNDP) on a project to conserve and increase Kazakhstan’s forestland. As the Astana Times reported on Jan. 14, the project aims to help the country to reduce its greenhouse gas emissions by 15% over the coming decade to meet its commitments in the 2016 Paris Agreement. Offsetting Bifury’s carbon footprint Bitfury and the UNDP are poised to sign an agreement later this month with the Kazakh Ministry of Ecology, Geology and Natural Resources to create a…

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Nike to Tokenize Footwear on Ethereum Blockchain Network

Nike shoes

Nike intends to use the Ethereum blockchain network to generate a unique digital asset for limited edition shoes. It got a patent to tokenize footwear on the Ethereum blockchain network. Nike is responsible for the design, development, marketing, and sale of footwear, apparel, equipment, accessories, and services for athletes. The Company’s operating segments include North America, Europe, Japan, China, and Emerging Markets. Its brand portfolio includes NIKE, Jordan, Hurley, and Converse brands. Nike to Use Ethereum Blockchain Network (ERC 721 Token) Nike intended to generate unique IDs and create ERC…

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CCB Launches A Blockchain-Based Small Business Financing Platform

CCB China

One of China’s largest financial institutions, China’s Construction Bank (CCB) launched its blockchain based re-factoring platform. The announcement, released on December 10th by local news outlet, Sina Finance App, further points out the bank aims to boost efficiency and reduce risks pinned to the factoring business. China’s state Owned Bank Launches Blockchain-Based platform Factoring is a popular channel that mid and small-sized businesses use to raise capital by selling their invoices at a discount to another firm. China’s state owned CCB, the world’s second largest bank in assets owned, launched…

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Denmark’s Tax Authority Sends Warning Letters to 20,000 Crypto Owners

crypto tax

The tax authority of Denmark has reportedly sent out warning letters to 20,000 crypto owners asking them to amend their tax returns, pay taxes on crypto gains, or face penalties. The tax agency is demanding a full breakdown of their crypto transactions; it recently obtained information on these traders from three local crypto exchanges. Warning Letters to Crypto Investors Danish Skattestyrelsen, the tax authority of Denmark, has reportedly sent out warning letters to 20,000 cryptocurrency owners. Swedish crypto tax startup Koinly posted a copy of the letter on its website…

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Dubai developer launches crypto payment option for home buyers

Ellington Properties has delivered Belgravia, Belgravia II and Somerset Mews – all in central Dubai.

Ellington Properties says it has chosen Bitcoin Suisse as its preferred crypto brokerage provider Dubai-based developer Ellington Properties has chosen Bitcoin Suisse (BTCS) as its preferred crypto brokerage provider, adding to the payment options for its base of international customers. Designed to enhance customer satisfaction, Ellington Properties said customers can now purchase homes in central locations in Dubai using bitcoin with the transaction process to be facilitated by Bitcoin Suisse. BTCS has helped shape the crypto and blockchain ecosystem in Switzerland, the developer said in a statement. Paula Wehbeh, head…

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Binance partners with TravelbyBit to launch crypto-backed Travel Rewards Card

TravelbyBit

Global travel meets mainstream crypto adoption in this latest venture from Binance and TravelbyBit, the company behind Brisbane Airport’s transformation into the world’s first cryptocurrency-ready airport. Travel booking platform, TravelbyBit, and leading global cryptocurrency exchange and blockchain ecosystem, Binance, have joined forces to create a cryptocurrency-backed travel rewards card to facilitate crypto payments on major travel websites. Starting today, users can pre-register for the TravelbyBit Travel Card at https://travelbybit.com/card-launch/. The new TravelbyBit travel rewards card will function as a traditional prepaid debit card with additional access to exclusive travel discounts…

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89% of Chinese Blockchain Firms Have Tried to Issue Crypto

blockchain china

89% of China’s blockchain firms have allegedly tried to create their own cryptocurrency, according to a senior exec at a local blockchain association. According to the state-run CCTV on Nov. 21, Yedong Zhu, the president of the Beijing Blockchain Technology Application Association (BBAA), revealed that the vast majority of blockchain industry in China is focused on tokens, not blockchain. In addition to Zhu’s remarks, the report by CCTV covered a new study led by the People’s Bank of China (PBoC). Co-authored by five local financial and technology authorities, the “Bluebook…

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Italian banks successfully test data reconciliation via blockchain

bank blockchain Italy

The Italian Banking Association (ABI) successfully processed the reconciliation data of an entire year of local banking activity on a blockchain platform. The association announced the successful test of the Spunta Project’s system in a press release published on Oct. 12. The successful test of the framework has been first announced by Italian media at the end of September though with little details. Platform viability has been demonstrated Now ABI reveals that the test has seen 200 million data entries being processed by the blockchain banking reconciliation system, effectively simulating…

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BMW, General Motors, Ford to start testing blockchain payments in cars

Ford Mustang

Five major automakers — BMW, General Motors, Ford, Renault and Honda — will start testing a blockchain car identification and payment system next month in the United States. Automakers envision self-paying cars, digital IDs Nikkei Asian Review reported on Oct. 14 that the partnership aims to test the vehicle ID system developed under the Mobility Open Blockchain Initiative. As part of the project, cars are assigned digital IDs linked to ownership, service history and a wallet allowing the vehicle to automatically pay fees without specialized hardware. The alliance reportedly envisions…

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Tether becomes most used cryptocurrency in world

Tether becomes most used cryptocurrency

What’s the world’s most widely used cryptocurrency? If you think it’s Bitcoin, which accounts for about 70 percent of all the digital-asset world’s market value, you’re probably wrong. While concrete figures on trading volumes are hard to come by in this often murky corner of finance, data from CoinMarketCap.com shows that the token with the highest daily and monthly trading volume is Tether, whose market capitalization is more than 30 times smaller. Tether’s volume surpassed that of Bitcoin’s for the first time in April and has consistently exceeded it since…

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5200 tobacco shops in France now selling Bitcoin

Keplerk

French crypto startup Keplerk has relaunched its service to accept Bitcoin (BTC) payments in over 5,200 tobacco shops in France starting from Oct. 10. Service first launched in January After suspending the service in less than two months after launch in January, Keplerk says that its customers will be able to buy Bitcoin from tobacconists in coupons of 50, 100 or 250 euros, France’s top news channel BFM TV reports Oct. 10. According to the report, Bitcoin payments in all 5,200 locations will be feasible through Keplerk’s partner Bimedia, which…

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Over 1000 coins dead in 8 years

1000 coins dead in 8 years

A recent study has revealed how the crypto ecosystem is becoming free from a collection of coins affiliated with projects with little or no business proposition, market traction, and ready products, more commonly known as “shitcoins”. According to the study, more than 1000 cryptocurrencies are now dead! There Are Top Coins, Shitcoins And Dead Coins According to a recent report, an average of 1000 cryptocurrencies has become extinct within the crypto ecosystem in 8 years. The publication featured reports from at least 3 other coin rating websites which make use…

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Australian startup to offer 20% payback on fuel purchases in tokens

fuel token

Australian startup Incent plans to offer a 20% payback in its INCNT token on fuel purchases at United Petrol stations for a limited time. Incent announced in a press release published on Sept. 26 that participants will have to sign up on its platform and sync their bank accounts in order to receive the tokens. The firm also claims that the crypto asset in question is “Australia’s first cryptocurrency for all purchases at United Petrol stations.” A substitute for point-based loyalty programs United Petrol reportedly owns over 450 stations across…

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