Monthly Archives: November 2018

Thailand Uses Blockchain-Supported Electronic Voting System in Primaries

Thailand’s Democrat Party has become the first political party to use blockchain technology to elect its leaders in a primary election, which was held from November 1–9, 2018. In a live e-voting system, more than 120,000 party faithful cast their votes in a transparent way that saw former Thai Prime Minister Abhisit Vejjajiva winning his party nomination with 67,505 votes. Party members were able to vote using two methods. The first method was through voting stations that utilized a Raspberry Pi-based system. Voters were also able to […]

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SWIFT Kicks Out Iran – Country Responds with State-issued Cryptocurrency

Following the disconnection by SWIFT, Iran is set to launch its own state-issued cryptocurrency to circumvent U.S. sanctions. SWIFT Removes Iran Amidst Renewed U.S. Sanctions During the weekend, Belgian interbank service provider, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) announced it was cutting off Iran from its financial messaging system. According to the Asia Times, the company carried this action because of U.S. sanctions. Following the disconnection, the Islamic country would find it difficult settling import and export payments.  The removal was already decided days before […]

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Bitcoin Group SE Buys Investment Bank Tremmel for Undisclosed Figure

Bitcoin Group SE has bought 100 percent shares of investment bank Tremmel for an undisclosed amount. This is the German digital currency exchange operator’s second acquisition in 2018. Bitcoin Group, which holds current assets of $40 million, said Tremmel allows it to issue its own cryptocurrency-related products, conduct proprietary trading and operate bitcoin ATMs. Also Read: Sompo Holdings Acquires 10% Stake in Kenyan Cryptocurrency Exchange Bitpesa Acquisition to Expand Bitcoin Group Services Portfolio The Frankfurt Stock Exchange-listed company operates Bitcoin.de, Germany’s only regulated digital currency exchange, trading BTC, […]

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Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services

The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier. Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets. “Our mission is to be the bridge for institutions from traditional finance to enter this innovative asset class,” said Final Frontier co-founder Imraan Moola in a public statement. “Bitfury’s technological expertise, combined […]

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Ripple Files to Move Securities Lawsuit from State to Federal Court

Ripple’s legal team in their ongoing securities suit is attempting a new tack: to have the claim proceed at the federal level. In a move that legal commentator Jake Chervinsky described as “seriously crafty,” Ripple has filed a formal notice-of-removal motion to have their most recent securities suit, Zakinov et al v. Ripple, tried in a federal court rather than at the state level.   In the notice of removal, the defendants, which include Ripple and its CEO Brad Garlinghouse, among others, request that the court “remove […]

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Bitmain Sues Anonymous Hacker Over $5.5 Million Theft

Chinese mining giant Bitmain is suing an anonymous hacker that allegedly stole $5.5 million in cryptocurrency last April from the company’s account on the digital exchange Binance. The hacker’s identity is still unknown, and he’s described only as “John Doe” in official court documents, which were filed in accordance with the lawsuit on November 7, 2018, with the U.S. District Court for the Western District of Washington in Seattle. The documents state that the hacker managed to take over the company’s Binance account, then use bitcoin stored […]

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Ripple (XRP) CEO: Goal is to Overtake SWIFT Banking Network

Cryptocurrency, Ripple [XRP]–In a move that could prove prescient for the merging landscape of blockchain and banking, the CEO of Ripple has thrown down the gauntlet against primary competitor SWIFT. On November 13, Ripple Labs Inc. CEO Brad Garlinghouse told Bloomberg TV that his blockchain based company is able to gain customers at a fast rate relative to the market because financial firms are looking for faster, more modern technology than what is currently offered through entrenched fintech company SWIFT. Ripple, the startup company behind the number […]

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Regulations Roundup: Chinese Mining Farms Undergo Tax Inspection, Michigan Bans Campaign Donations in Cryptocurrency

In recent regulatory news, we report on an authorized mining company in China that has had its operations temporarily halted for tax inspection and implementation of real-name registration processes. We also look at the Michigan Secretary of State’s ban on crypto-based political donations, as well as the recent certification of X8’s stablecoin for Shariah compliance. In addition, we focus on the operator of a fraudulent cryptocurrency scheme who has been punished for misappropriating $601,000 in BTC and LTC from his employer. Also Read: President of Marshall Islands Challenged Over Cryptocurrency Plan […]

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To the Moon? Little Known Cryptocurrency Etheera (ETA) Gains 80,000 Percent in 14 Days

A little-known cryptocurrency project dubbed Etheera is currently enjoying a massive culminating in an appearance in Coinmarketcap’s top 100 coins. The Ethereum-based real estate token project has risen more than a whopping 80,000 percent in the space of fourteen days. 80,000 Percent Growth in a Fortnight According to data from Coinmarketcap, as of October 31, 2018, Etheera traded at $0.000051 at the back end of October 2018. As at press time, ETA’s price stands at $0.012551 which corresponds to an increase of 83,573 percent. Throughout November, ETA […]

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Markets Update: Bitcoin Cash Price Rally Stalls but Trade Volume Spikes Hard

There are less than two days left until the Bitcoin Cash (BCH) network faces a contentious hard fork and BCH markets are showing some unusual activity. They are being driven by heavy trading volumes that have doubled in the last two days, while BCH/USD short positions on Bitfinex have touched an all-time high. At the moment, bitcoin cash is trading for $529 per coin with more than $900 million worth of global swaps in the last 24 hours. Also read: Cryptocurrency ATM Growth Spikes Exponentially to 4,000 Machines […]

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