Category: Finance

A major payments provider in the United Arab Emirates (UAE) is implementing blockchain-based systems to operate remittance facilities, while the country’s government is discussing the creation of a state-backed cryptocurrency in partnership with Saudi Arabia, as per two reports in the week of December 11, 2018. RippleNet Technology to Be Deployed Continuing its strong onboarding performance in the Middle East…

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A new report published by the digital asset investment fund, Vision Hill Advisors, is making a case for the financial advantages investment funds can garner when participating in a cryptosystem in the context of generalized mining. Following the plunge in cryptoasset values in 2018, many mining operations have witnessed severe losses and as a result, have had to shut down,…

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A Republican representative from the 8th District of Ohio has suggested that blockchain technology could be the answer to Donald Trump’s long-standing desire to build a wall along the U.S.-Mexico border. In an interview with NPR on December 12, 2018, the Congressman in question, Warren Davidson, said that distributed ledger technology could allow private individuals and entities to crowdfund the…

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The year 2017 was a seminal year for the cryptocurrency industry, where markets were bullish pushing the cryptocurrency prices to all-time highs. Many emerging altcoin projects were launched, and the industry saw real growth and development. Tucked in between the Cambrian Explosion of the space, observers also witnessed the many iterations of raising capital via Initial Coin Offerings (ICO). While…

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The inability to quickly process Bitcoin payments finally showed its face in 2017 when prices were high. Not only that, but transaction costs for trading in the pioneer cryptocurrency were far from competitive. And yet, cryptocurrencies have still managed to capture the minds of many world leaders. The reason? In a world as financially-intertwined as ours, the ability to evade…

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According to an article published by Bloomberg, on December 13, 2018, Basis, a stablecoin startup funded by the likes of Bain Capital Ventures, and Andreessen Horowitz has decided to call it a day due to the persistent ambiguity regarding classification of digital currencies as securities. Crypto Industry in Dire Straits Since November 2018, the cryptocurrency industry has been on a…

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Triip, a Singaporean, global travel platform that claims to make it possible for travelers to enjoy exciting private tours by offering them frictionless hotel booking experiences in 227 countries, has announced that its clients will soon be able to book their travels with Ether and TOMO tokens, according to local news source Digital News Asia on December 13, 2018.   …

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The United States Securities and Exchange Commission (SEC) has won a prolonged court battle against the AriseBank blockchain project which organized a fraudulent initial coin offering (ICO) that claimed to had raised $600 million from investors last year. Now, authorities have ordered the founders of the project to pay investors a total of $2.7 million, reported  Dallas News on December…

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Japanese cryptocurrency exchange Coincheck is facing hurdles as it looks to recover from the colossal $550 million cryptocurrency theft in January 2018. This time, the culprit is the lack of liquidity and positive sentiment in the digital asset market, reported Nikkei Asia Review on December 12, 2018. Businesses Take a Hit with Falling Prices Bitcoin prices continue to fall since…

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Boerse Stuttgart, Germany’s second largest stock exchange, has reportedly partnered with fintech startup SolarisBank to develop a cryptocurrency exchange. In a press release issued December 12, 2018, SolarisBank said that the cryptocurrency trading platform is scheduled to release sometime in the first half of 2019. While the platform will initially only support ‘established’ cryptocurrencies such as Bitcoin and Ethereum, the…

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