Category: Blockchain

Swiss Post and Swisscom launch a 100% Swiss infrastructure for blockchain applications

CRYPTO WORLD
Swiss Post and Swisscom

Private Blockchain-based ProjectWhile the Swiss Post is Switzerland’s national postal service, Swisscom is one of the country’s largest state-owned telecom service providers. The two will ally to streamline their service offering and foster the blockchain ecosystem in the country. The joint venture is the first “private blockchain” platform in the country to be operated by two entities. The platform differs from other private blockchains in that the data will strictly remain within the borders of Switzerland. Further, the press release noted that the security of the platform would be on…

Read More

BitGo Now Supports Universal Protocol Alliance Stablecoins

CRYPTO WORLD
BitGo platform

BitGo, a leading blockchain security and cryptocurrency custodian based in California, has formed a strategic alliance with the Universal Protocol Alliance. The partnership will enable BitGo to offer support for the latter’s cryptoassets, including its U.S. dollar (UPUSD) and euro-pegged (UPEUR) stablecoins, according to a Business Wire press release on December 6, 2018. BitGo Supports Universal TokensPer sources close to the matter, BitGo, a highly-reputed cryptocurrency custodian and institutional cryptocurrency financial services company is now offering support for all tokens from the stables of the Universal Protocol Alliance (UP). In…

Read More

Sberbank, NSD and MTS close deal on commercial bond issue using blockchain

CRYPTO WORLD
Sberbank blockchain

Sberbank, the National Settlement Depository (NSD) and MTS have summed up results of the deal to issue commercial bonds using blockchain. The nominal cost of MTS’s RUB 750 mln commercial bonds, organised and purchased by the corporate and investment banking business of Sberbank, was redeemed. A security deal using smart contracts – from issue to full execution of issuer’s obligations to the investor – was successfully carried out. Commercial bonds are privately-traded unsecured fixed income securities that are placed on the OTC market through a private subscription. Prior to the…

Read More

Vulnerability on Ethereum enables malicious GAS Minting

CRYPTO WORLD
GasToken

A newly discovered vulnerability on Ethereum allowing for malicious GasToken Minting was found. The development team already acknowledged the issue and informed most of the affected users on November 13, 2018, via private disclosure. The Attack Crypto exchanges usually allow the withdrawal of Ethereum to arbitrary addresses with no gas usage limit; since this executes a fall back function, attackers can use this to make exchanges pay for arbitrary computation, allowing them to force exchanges to burn their own Ethereum on high transaction costs. Moreover, this even gives attackers the…

Read More

Bitfury partners with Russian Economics University to establish Blockchain Accelerator

CRYPTO WORLD
Bitfury blockchain

Multisectoral blockchain company Bitfury has partnered with the Plekhanov Russian University of Economics to create an accelerator for blockchain projects, Russian crypto news outlet Forklog reports Nov. 21. In addition to supporting the development of blockchain projects, the university will provide courses and additional education dedicated to “training specialists who are able to create innovative projects using digital technologies in a short time.” This will enable specialists to “bring [the projects] to market amid the new industrial revolution,” Dmitry Ufaev, the head of Bitfury Russia, told Forklog. According to Forklog,…

Read More

German Federal Economic Ministry Wants to Combat Tax Fraud with Blockchain

CRYPTO WORLD
The German Federal Ministry for Economic Affairs and Energy (BMWi)

The German Federal Ministry for Economic Affairs and Energy (BMWi) is planning to fight tax evasion schemes by using blockchain, German business news outlet WirtschaftsWoche reported Nov. 22. Following the major European tax fraud scheme CumEx-Files, the BMWi has suggested that distributed ledger technology (DLT) is capable of making the tax system more efficient in terms of fraud prevention. Discovered in 2017, the CumEx-Files was a tax fraud scheme that reportedly was used by a network of banks, stock traders and top lawyers to obtain billions from European treasuries through…

Read More

Tezos Korea Foundation joins forces with Yonsei University to promote Blockchain

CRYPTO WORLD
Tezos Korea Foundation

The South Korean arm of the Tezos Foundation has signed a Memorandum of Understanding (MoU) with Yonsei University for the development of unique talents and expertise in blockchain technology, according to a press release published by Tezos. The release reads: “Through this agreement, both sides will strengthen the expertise of the blockchain and education expertise, and discuss various cooperation opportunities to lead the blockchain field.” The new agreement, which is between the Seoul-based Digital Society Research Center at Yonsei University and the Tezos Korea Foundation, will look into providing “blockchain…

Read More

Bitcoin Cash [BCH] miner process largest block ever on a public blockchain

CRYPTO WORLD
Block #556034

The renowned blockchain technology research, analysis, and development firm, nChain Group’s mining pool BMG Pool is making the headlines now. The mining pool is shattering many records. The mining pool mined over 32 MB block on the Bitcoin Cash [BCH] network. The largest block ever mined first stood at the height 556034 on the Bitcoin Cash [BCH] chain. Furthermore, the miner processed over 166K transactions. The miner went onto process four more such 32 MB blocks on the blockchain network. Moreover, this resulted in the confirmation of over 166K transactions…

Read More

Binance crypto exchange launches its analysis wing Binance Research

CRYPTO WORLD
LOOM NETWORK (LOOM)

The most renowned and world’s largest crypto exchange by trading volume, Binance is launching its own analysis and research division. Binance is calling this new analysis wing as Binance Research. Moreover, the research division will focus on creating industry grade analysis reports. The crypto exchange launched the platform on November 8, 2018, for industry analysis. The crypto exchange made the announcement through their official Twitter handle. Furthermore, they also announced it on their official blog about this. The crypto exchange is calling the new firm, an analysis division to the…

Read More

Spanish bank BBVA issues $150M loan using Ethereum

CRYPTO WORLD
Etherchain - The Ethereum Blockchain Explorer

BBVA, the 35 billion euro bank from Spain, has officially issued a loan using the Ethereum blockchain. In a test of their pilot loan program, BBVA teamed up with MUFG and BNP Paribas to lend funds to Spain’s national electric company, Red Electrica. Spanish bank BBVA has officially issued a loan via the Ethereum blockchain. As reported by Finance Magnates, BBVA, Spain’s second-largest bank, is working on a pilot program that will issue loans using Ethereum (ETH). In the recently issued loan, Spain’s national electricity company, Red Electrica, received funding…

Read More

Tata Consultancy Services partners with Intel for Quartz Blockchain Solutions

CRYPTO WORLD
TCS

Tata Consultancy Services (TCS) has partnered with Intel to integrate Intel Software Guard Extensions technology with the Quartz Blockchain solution, to enhance the privacy and security of blockchain-based ecosystems implemented using Quartz. Reacting to this, shares of the company rose 1% in the afternoon session on Wednesday. “Central to TCS’ Business 4.0 framework is the use of technology to leverage ecosystems and to harness abundance. Quartz blockchain is a key enabler for this strategy. Even a single security incident can cause loss of trust and deter the adoption of blockchain.…

Read More

The Chinese Financial Blockchain Shenzhen Consortium (FISCO) to launch coinless blockchain

CRYPTO WORLD
blockchain

The Chinese Financial Blockchain Shenzhen Consortium (FISCO), led by multinational telecommunication company Huawei and tech giant Tencent, will soon present its coinless blockchain FISCO BCOS. FISCO consists of more than 100 financial entities including major players such as WeBank, a digital bank initiated by Tencent, and Shenzhen Securities Communication. The consortium is going to present the new platform at the Singapore Fintech Festival, which will take place from Nov. 12-14. FISCO BCOS is described as a set of applications aimed to serve the general public. Per the release, the main…

Read More

IBM partnership will make big changes to travel

CRYPTO WORLD
Travelport

The future of the travel industry won’t be the same thanks to IBM and the leading travel commerce platform Travelport’s latest announcement. During August was a big announcement from Travelport and its strategic technology partner, IBM have revealed that their industry-first AI (artificial intelligence) platform with the aim of aiding businesses manage their corporate travel spend. The AI platform, combined with Travelport data, cleverly manages, predicts and tracks all travel costs in one place. Fundamentally changing how companies manage and optimise their travel programs. This week, a further collaboration using…

Read More

75 major banks join blockchain payments network

CRYPTO WORLD
Interbank Information Network

75 of the world’s biggest banks are turning to the Interbank Information Network (IIN) a blockchain payments platform to fight the threat of new payments rivals in what will be the regulated banking industry’s largest application of the distributed ledger technology. More than 70 additional banks, including Société Générale and Santander, are joining the Interbank Information Network which JPMorgan, Royal Bank of Canada and ANZ have been trialling for 11 months to see if blockchain payments technology can speed up payments that have errors or require additional compliance checks. The…

Read More