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Rupee Withdrawals May Stop on Zebpay

June 26, 2018 by Pratik Makadiya at Bitcoin, Business, Finance, News, Regulation

Zebpay, a popular Indian cryptocurrency exchange, divulged that support for rupee withdrawals may cease, due to a directive issued by the Reserve Bank of India that prohibits banks from facilitating crypto business. RBI Directive Challenged by Indian Crypto Industry In its latest announcement, Zebpay stated that the Indian crypto...

Cryptocurrencies and Blockchain Technology will Propel “Open Source” Banking

June 21, 2018 by Cindy Huynh at Altcoins, Bitcoin, Blockchain, Business, Commentary, Finance, News, Tech

Bitcoin, Ethereum, 0xProject, Dharma, and Aragon are all incredible building blocks for an open source decentralized future. However, an open-source financial system requires an open-source interface to operate successfully. Balance is, therefore, leading the open-source banking movement by building a Distributed Autonomous Bank (DAB). Evolution of Banking Systems The banking...

Large Russian Banks are Testing Bitcoin and Cryptocurrency Investment Portfolios

June 20, 2018 by Cindy Huynh at Altcoins, Bitcoin, Blockchain, Finance, News, Tech

Russia’s largest banks Sberbank and AlfaBank, are planning to pilot cryptocurrency investment portfolios for their clients. Russia’s Cryptocurrency Push According to Russian news site Kommersant, the banks concluded to “test boxed solutions for private banking, based on digital financial assets,” on June 13, 2018, during the discussion at the Digital...

Swiss Banking Authority Warns that Bitcoin Is Impractical and an Environmental Disaster

June 19, 2018 by Priyeshu Garg at Bitcoin, Blockchain, Business, Commentary, Finance, News, Regulation, Tech

In its latest warning about the burgeoning cryptocurrency sector, the Bank of International Settlements (BIS) stated on June 17, 2018, that cryptocurrencies are not scalable and “are likely to face a breakdown in trust” as the number of people using digital currencies increases. Other concerns revolve around their inherently self-limiting...

South Korean Banks to Utilize Blockchain for Digital I.D.

June 19, 2018 by Peter Ivancic at Blockchain, Finance, News, Tech

South Korea looks to blockchain technology to provide its next-generation digital identification system, according to a report on Korea JoongAng Daily. The new system proposed by the Korean Federation of Banks (KFB) called BankSign, is a direct response to the recent move by the South Korean government in lifting its...

Beyond Speculation: The Southeast Asian Example for Mainstreaming Blockchain

June 8, 2018 by Priyeshu Garg at Altcoins, Bitcoin, Blockchain, Business, Finance, News, Tech

Sachaknisay Sov is either a poor rural Cambodian with little access to the global economy or an early adopter of a technology solution that could sweep the world and raise two billion of its poorest people out of poverty. It depends on your perspective. Value In the Unbanked Market On...

Japanese Giant SBI Plans a Crypto Exchange

World’s First Bank-Backed Crypto Exchange Debuts in Japan

June 5, 2018 by Priyeshu Garg at Altcoins, Blockchain, Business, Finance, News, Tech

The Japanese financial services behemoth, SBI Group, announced the launch of its in-house cryptocurrency exchange on June 4, 2018, following months of anticipation and delays. Delayed Plans In May 2018, BTCManager reported that SBI was looking to open Japan's first banked-owned cryptocurrency exchange. Delays slowed plans due to security concerns...

IOTA and Largest Financial Group in Norway Collaborate to Explore Tangle Solutions

June 5, 2018 by Priyeshu Garg at Altcoins, Blockchain, Business, Finance, News, Tech

IOTA has announced a partnership with Den Norske Bank (DNB) to explore useful solutions for Tangle Technology. IOTA revealed the collaboration via a press release on the IOTA Foundation website on May 31, 2018. Details of the Partnership The Norwegian is the largest financial group in the country with the...

Meet the Unknown Bank That Is Funding Major Cryptocurrency Exchanges

June 4, 2018 by contributor at Altcoins, Bitcoin, Business, Finance, News, Regulation

The somewhat hyped Consensus 2018, witnessed a deep interest in a San Diego-based small community money-lender Silvergate Bank. It has been hailed as a lifeline for cryptocurrency exchanges and enterprises which have been shown the exit by Wall Street banks. The Lifeline for the Crypto Industry According to a report...

Robbers Demand $1 Million in Ripple as Ransom After Stealing Banks’ Customer Data

June 1, 2018 by contributor at Altcoins, Crime, News, Tech

Two Canadian banks were in for a fix on May 28, 2018, after hackers gained access to account holders’ personal information, and threatened to sell it to interested parties unless a ransom was paid in XRP, Ripple’s native token. Hackers Infiltrate Bank Systems with Ease According to a report, Simplii...

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