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The Boston Consulting Group (BCG) released a report on August 16, 2018, which outlined the complexities of implementing blockchain technology in enterprise and corporate systems. The group urged senior executives to reconsider the benefits of the innovation and assess the potential drawbacks before proceeding with the nascent technology. Blockchain’s Potential May Have Been Exaggerated Although blockchain technology has been heralded…

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In a second-quarter earnings call, Nvidia CEO Colette Kress has said that the revenues from its cryptocurrency venture have declined to a point in which the chip manufacturing conglomerate will now have to back out from the crypto sector. $100 Million to $18 Million In early 2018, Nvidia expected its cryptocurrency mining equipment manufacturing venture to bring in at least…

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Binance, the world’s largest cryptoassets exchange by 24-hour trading volume, has announced the launch of a fiat-to-crypto exchange in the heart of Europe. It will offer trading between the Swiss Franc (CHF) and Euro (EUR) against a handful of established digital assets, as per an August 16, 2018, press release. Binance Crypto Revolution The world famous exchange has added another…

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According to the Financial Conduct Authority (FCA), a British watchdog, cryptocurrency fraud is on the rise in Britain according to Reuters report on August 17, 2018. The fraudsters lure their victims with promises of instant wealth through their “investment packages.” Two and a Half Million Dollars Lost to Fraud A report released by the watchdog reveals that victims of fraud…

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David Schwartz, Ripple’s chief technology officer, had conjured a similar concept to Nakamoto’s Bitcoin blockchain 30 years ago, known as a “multilevel distributed computer system,” reported The Next Web on August 17, 2018.  On August 25, 1998, Schwartz filed a patent for the distributed computer system which was designed to use the combined processing power from several personal computers to accomplish specific…

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In late August 2018, American investors will be able to purchase a Bitcoin exchange-traded-note which seeks to allow some of the more timid investors an opportunity to own the digital currency. The product is called Bitcoin Tracker One, and it is now listed in U.S. dollars under CXBTF which allows brokerages to offer it to American investors. While this is not the…

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A research team from Northwestern University, in Illinois, U.S.A., believes they have unraveled one of Bitcoin’s long-standing nemesis: The problem of scalability. As reported by MarketWatch on August 15, 2018, the scholars put out details of their innovative solution. Scalability under Scrutiny While the problems of slow transactions are not localized to Bitcoin, the research team has published findings only…

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In a bid to become the Facebook of the crypto sector, Coinbase, the world’s largest exchange for buying and selling digital currencies, announced the acquisition of Distributed Systems, a three-year-old startup building identity standards for dApps known as the clear protocol on August 16, 2018. The Distributed Systems team, lead by Nikhil Srinivasan, will help Coinbase to form a Facebook-style…

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On August 15, 2018, Bitwise, the creator of the world’s first cryptocurrency index fund, has announced the creation of three new cryptoassets index funds to cover the mid-cap cryptos, small-cap coins, and the total market segments of the blockchain-based virtual currency market. The firm has also launched an index advisory board and API access for anyone interested in high-quality crypto…

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Wyre, the blockchain-based payment transfer company from San Francisco, has entered a new agreement with the developer of Dai to add the barely one-year-old stablecoin into its portfolio on August 14, 2018. Dependence on Speculative Cryptocurrencies Per the deal with MakerDAO, the firm that developed Dai, Wyre will roll out new Dai-based fiat-crypto trading pairs in more than 30 countries…

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