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Rural Banks in the Philippines use ConsenSys Ethereum Blockchain System to Facilitate Real-time Transactions

Rural Banks in the Philippines to use ConsenSys’ Ethereum Blockchain System to Facilitate Real-time Transactions

June 1, 2018 by Ogwu Osaemezu Emmanuel at Blockchain, Business, Finance, News, Tech

On May 27, 2018, ConsenSyS announced the selection of five rural banks in the crypto-friendly Philippines to try out its blockchain-based real-time payments solution. Banking the Unbanked The Union Bank of the Philippines has joined forces with the ConsenSyS blockchain startup to change the faces of five rural banks in...

President of China believes blockchain is a ‘breakthrough’ technology

President of China Believes the Blockchain is a ‘Breakthrough’ Technology

June 1, 2018 by Cindy Huynh at Blockchain, Commentary, News, Tech

Chinese President Xi Jinping mentioned in a speech that blockchain has “breakthrough applications” at a meeting of the Chinese Academy of Sciences and the Chinese Academy of Engineering on May 28. According to the CNBC, President Xi Jinping stated at the Chinese Academy of Science’s annual conference, “a new generation...

Kyber Network: Decentralized Exchanges Have Low Liquidity, But that May Change

June 1, 2018 by Joseph Young at Altcoins, Blockchain, Business, Ethereum, News, Tech

In an interview with Timothy Tam, former executive at Goldman Sachs and the founder of Coinfi, Kyber Network founder Loi Luu stated that despite high anticipation from the global cryptocurrency community, decentralized exchanges have not been able to achieve high liquidity and popularity. Failed Projects In September 2017, Coinbase co-founder...

92 Percent Blockchain Projects Fail Within 1.22 Years, Claims Chinese Report

June 1, 2018 by contributor at Altcoins, Bitcoin, Blockchain, Business, Finance, News

Well-known sentiment states that 90 percent of all businesses fail in their first year for a myriad of reasons. Hence, it is unsurprising to find that blockchain businesses face similar difficulties in scaling up, regardless of their jaw-dropping valuations. 92 Percent See the Door An official report commissioned by the...

China’s Largest Taxi-Hailing App Will Soon Get a Blockchain-Based Counterpart

June 1, 2018 by contributor at Blockchain, Business, Finance, News, Tech

Weiying Chen, the founder of Kuaidi Dache, announced on May 28, 2018, that a blockchain-run cab-hailing app is in the works. The entrepreneur had previously allied with Didi, another ride-hailing app, and scaled the merged entity to China’s number one ride-hailing company – Didi Chuxing - with a valuation of...

Highlights from Berlin’s Cryptocurrency Conference: BlockShow Europe 2018

May 31, 2018 by Liam J Kelly at Altcoins, Bitcoin, Blockchain, Commentary, News

Exhibitors, speakers, and media folks all descended upon the Estrel Hotel and Convention Center in Berlin, Germany for the two-day BlockShow Conference. Comparatively, this year’s conference focused heavily on regulations, institutional investment into the industry, and the never-ending search for the blockchain’s “killer app.” Over the course of May 28-29,...

ZhongAn: Insurtech Giant Believes in Blockchain’s Transformational Power

May 31, 2018 by Cindy Huynh at Blockchain, Business, Finance, News, Tech

ZhongAn’s technology officer believes that blockchain technology will have a “tremendous role” when it comes to transforming the insurance sector in China. “Insurance is backed by statistics and blockchain will help to connect that massive and varied data,” said Chen Wei, the head of technology at ZhongAn Online Property and...

21 FinTech Firms Sign up to Make CEZA a Blockchain and Cryptocurrency Hub

May 31, 2018 by Priyeshu Garg at Blockchain, Business, Finance, News, Tech

At least 21 offshore companies in the FinTech sector have signed up with the Cagayan Special Economic Zone Authority (CEZA) after the CEZA Fintech Summit 2018 in the Philippines. Some of the FinTech companies that are seeking to set shop on the Cagayan Special Economic Zone in Northern Luzon are...

First Bank in Kuwait to Test Ripple Blockchain to Process Instant Global Payments

May 31, 2018 by Joseph Young at Altcoins, Blockchain, Business, Finance, News, Tech

Kuwait Finance House (KFH), the first commercial bank in the State of Kuwait established in 1977, announced on May 26, 2018, that it has begun testing Ripple’s blockchain protocol to settle instantaneous global payments and remittances in a decentralized manner. More Partners, More Momentum The deal between KFH and Ripple...

Loom Network Launches Zombiechain, a Dedicated Sidechain for Ethereum DApps

May 30, 2018 by Rahul Nambiampurath at Blockchain, Entertainment, Ethereum, News, Tech

To reduce the load on Ethereum’s blockchain, Loom Network has introduced Zombiechain, a sidechain geared toward decentralized applications (DApps). There have been instances in the past when the popularity of a decentralized application such as CryptoKitties has managed to slow down the entire network. The number of pending transactions on...

PwC Australia to Launch Blockchain Solution to Enhance International Trade and Commerce

May 30, 2018 by Ogwu Osaemezu Emmanuel at Blockchain, Business, News, Tech

The Australian arm of PricewaterhouseCoopers, a London-based multinational professional services network, in collaboration with the Australian Chamber of Commerce and Industry (ACCI), and the Port of Brisbane has launched a ‘Trade Community System,’ powered by distributed ledger technology. The Power of the Blockchain The Trade Community proof-of-concept system is targeted...

UNOPS Collaborates with IOTA to Adopt Blockchain’s Transparency Features

May 30, 2018 by contributor at Altcoins, Blockchain, News

The IOTA foundation announced a collaboration with the United Nations Office for Project Services (UNOPS) on May 24, 2018, to facilitate the latter’s push to implement blockchain technology in its administrative systems. UN’s Blockchain Push The UNOPS looks to increase the operational efficiency for United Nations (UN) offices across the...

Cardano Launches First Smart Contracts Testnet, with Another Due for July

May 29, 2018 by contributor at Altcoins, Blockchain, News, Tech

Cardano, the world’s seventh largest cryptocurrency by market cap, quietly launched its first smart contract testnet on May 28, 2018, and the developments are tremendously forward thinking. Building Trust in Blockchain Projects According to an official release by IOHK, Cardano’s parent organization, the blockchain project launched its KEVM testnet, a...

Russia’s Largest Bank to Test Issuance of State-backed ICO in 2018

May 29, 2018 by contributor at Blockchain, Business, Finance, News, Regulation

Russia is seemingly taking giant strides in adopting blockchain technology. The country’s latest blockchain push would see the Russian banking giant Sberbank and the National Settlement Depository monitor an Initial Coin Offering (ICO) on a state-developed blockchain. Russia’s Blockchain Push According to an official report by Sberbank, the two entities...

Weighing the Pros and Cons of the EOS platform

Security Vulnerabilities Found in the EOS Blockchain: Mainnet Launch Could be Delayed

May 29, 2018 by contributor at Altcoins, Blockchain, Commentary, News, Tech

China’s premier internet security firm 360 released a report detailing several “high-risk vulnerabilities” in the EOS blockchain. The project was scheduled for a June 2, 2018, mainnet release, and now faces a questionable situation, which could delay the much-awaited mainnet launch indefinitely. Mainnet Launch in Trouble As per a report...

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