Facebook’s cryptocurrency partners revealed

Facebook crypto coin blockchain

Facebook has been quietly building out its cryptocurrency for over a year, and it looks like that time has been well spent, enlisting the support of some of the most prominent companies across payments, retail, and technology. As recently reported by The Wall Street Journal, Facebook’s cryptocurrency will be governed by a consortium of firms known as the Libra Foundation, which includes the likes of Visa, Mastercard, and PayPal. But The Block has gotten its hands on consortium marketing materials and can now report dozens of firms not previously known…

Read More

Using Bitcoins may earn you a 10-year jail sentence

Bitcoin jail

In a move that’s likely to cause huge disappointment, the government has proposed a 10-year prison sentence for persons who ‘mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies. In a move that’s likely to cause huge disappointment, the government has proposed a 10-year prison sentence for persons who ‘mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies. A new draft bill The Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 has proposed a 10-year prison sentence for anyone dealing with cryptocurrencies. The…

Read More

Yahoo Japan-Backed Crypto Exchange Taotao Launches This Week

#TAOTAO

A new crypto exchange platform in which Yahoo Japan owns a major stake is about to launch after over a year in development. The new platform, called Taotao, announced on Twitter Sunday that it will go live on Thursday, May 30, at midday local time. According to the Taotao website, the exchange will be offering a mobile app alongside its online platform, and will offer trading in bitcoin (BTC) and ether (ETH) at launch. The firm will also be making leverage available for interested traders, with three more cryptos added…

Read More

Seoul to Implement Blockchain in Citizen Cards, the Mayor Reveals

Soul Korea

The South Korean city of Seoul will implement blockchain technology in its citizen cards, Korean publication Queen.co.kr reports on May 20. Park Won-soon, the mayor of Seoul, has participated in the ongoing event “Korea Future Forum (KFF) 2019 & Blockchain Tech Show,” reporting on the city’s achievements in embracing major technologies including blockchain and artificial intelligence. The mayor highlighted the role of blockchain in storing data, noting that the value of data “has become even more important than before.” According to Park, the city of Seoul will implement blockchain in…

Read More

Microsoft Is Building an ID Verification Platform on Bitcoin

Microsoft ID Verification Platform

Microsoft is leveraging blockchain technology to create a trustless digital identity scheme, but its not launching a token or building a private blockchain to do so. Its building on Bitcoin instead. Announced on May 13, 2019 , Project ION is an open-source, Layer 2 network built out of the public key infrastructure protocol Sidetree. In practice, “it is akin to Lightning, in that there is no secondary consensus among ION nodes,” a source close to the network’s development told Bitcoin Magazine . “This is just like Bitcoin, but for IDs,”…

Read More

Nestlé And Carrefour Trial Blockchain For Greater Food Transparency

Carrefour Nestle blockchain

Swiss food and drink multinational Nestlé and French hypermarket chain Carrefour are trialing blockchain to provide consumers with greater transparency in the food sector. From April 15, 2019, the technology will be applied to the famous Mousline instant mashed potato brand, available on shelves in Carrefour stores around France, to enable consumers to access reliable and unfalsifiable information on the supply chain and production of the products. Nestlé and Carrefour will test the blockchain platform with Mousline purée over the next few months. The pilot will help the firms understand…

Read More

ING Bank Releases Blockchain Privacy Tool Bulletproofs

ING Bank lion

Dutch global banking and financial services corporation ING introduced its new cryptographic blockchain development called Bulletproofs. Bulletproofs represents an extended technology for ING’s previous blockchain privacy-focused developments such as zero-knowledge range proof (ZKRP) and zero-knowledge set membership (ZKSM). ING bank first launched ZKRP in November 2017, enabling market participants to maintain anonymity in a transaction while still confirming its accuracy. For instance, the tool allowed a mortgage applicant to prove their salary within a certain range without revealing the exact figure. As an improved version of ZKRP, ZKSM was released…

Read More

StackOverflow Developer Survey: 80% of Organizations Do Not Use Blockchain

Developer Survey Results

Major developer community website StackOverflow has surveyed nearly 90,000 developers, and the results published on April 9 show that 80% of organizations are currently not using blockchain. As well, 12.7% of the developers responded that organizations use blockchain for non-currency applications, 4% for cryptocurrency-related applications, 2.1% accept crypto as payments and 1.3% are implementing their own cryptocurrency. StackOverflow also claims that developers in India are the most likely to say that their organizations are using blockchain technology. The most significant portion of developers, 29.2%, believes that blockchain is useful across…

Read More

EU Blockchain Observatory Releases Report on Tokenization, AI and IoT

EU Blockchain Observatory

The European Union Blockchain Observatory and Forum released a report entitled “Tokenization of physical assets and the impact of IoT and AI” on April 10. The report, authored by Dr. Tim Weingärtner, a professor at Lucerne University of Applied Sciences & Arts – School for Information Technology, features the “digital twin” concept, which refers to a digital replica of the physical world. This mirror world would be consist of Internet of Things (IoT) devices, big data, tokens representing physical objects, blockchain as a trusted ledger and Artificial Intelligence (AI). The…

Read More

EU Launches International Blockchain Association

International Blockchain Association

The European Union has officially launched the International Association of Trusted Blockchain Applications (INATBA) — with IBM, Accenture and Deutsche Telekom among the 100-plus members to have signed the association’s charter at a ceremony at the European Commission (EC) in Brussels on April 4. INATBA was legally formed last month as an offshoot of the EU’s European Blockchain Partnership, with the explicit aim of “supporting interoperability, developing specifications, promoting standards and regulatory convergence to support the development and exploitation of innovative blockchain technologies.” Launching ceremony Hosted by European Commissioner Mariya…

Read More

Russian Gas Giant Gazprom to Use Blockchain in Gas Supply Agreements

Gazprom blockchain

The Russian prime minister has welcomed an initiative to use blockchain in agreements over gas supplies by the country’s state-owned gas giant Gazprom, local finance news outlet Vestifinance reports on April 4. The news agency operates under Russian Television and Radio Broadcasting Company (RTR), a major TV channel. The head of Russia’s state-owned gas giant Gazprom, Alexey Miller, has met with Russian prime minister Dmitry Medvedev to report on the development of applications powered by distributed ledger technology (DLT). According to Miller, Gazprom has carried out substantive work with Russia’s…

Read More

IBM Hints at Stablecoin Cross-Border Payments Solution for Financial Institutions

IBM Blockchain World Wire

The head of blockchain solutions for IBM, Jesse Lund, has hinted that bank-targeted stablecoins will be a major forthcoming development for the tech giant’s blockchain-powered cross-border payments solution. Lund made his remarks during an interview on financial news channel Cheddar on March 15. While more details are set to be imminently announced next week, Lund told Cheddar that “market demand” is driving IBM to develop a stablecoin solution for financial institutions. “More than a few banks around the world […] see tremendous business benefit to issue stablecoins in their native…

Read More

Google Deletes Crypto Malware Targeting Blockchain.com

Crypto Malware

A Google Chrome browser extension tricking users into participating in a fake airdrop from cryptocurrency exchange Huobi claimed over 200 victims, a security researcher reported in a blog post on March 14. The extension for Chrome web browser, with the name NoCoin, gained 230 downloads before Google deleted it, according to Harry Denley, who runs cryptocurrency scam database EtherscamDB. Denley noted that hackers had purposely disguised the malicious extension to look like a tool protecting users from cryptocurrency malware or so-called cryptojacking. “From the start, it looked like it did…

Read More

Insurance Giant AXA XL Launches Security Token and Crowdfunding Insurance Service

crypto crowd funding

Insurance giant AXA XL and insurance technology startup Assurely have jointly launched a new insurance product covering equity crowdfunding and Security Token Offerings (STOs). The new product dubbed CrowdProtector is designed for issuers and investors, and purportedly protects new online capital formation strategies like equity crowdfunding and STOs. The product also aims increase trust, confidence and safety to potential investors guaranteeing that the issuer is insured. According to Ty Sagalow, CEO of Assurely, the parties have managed to increase underwriting. The releases states: “CrowdProtector provides Issuers protection against investor complaints…

Read More

IBM Reveals Two Further Blockchain Patents for Security And Database Management

IBMBlockchain

Multinational computing giant IBM is adding to its stack of blockchain patents with two new applications, the United States Patent and Trademark Office confirmed, publishing documents on March 5. According to one patent document, IBM now seeks to target network security using blockchain technology. A second patent focuses on database management using the tech. “Securing a data log using monitor security protocols may be accomplished with different levels of security, ranging from low security to high security, and have various combinations of hardware and software configurations,” the description of the…

Read More