#informal economy

Man with British flag hard hat shooting at a bill of unknown amount.

Australian Government May Intensify ‘War on Cash’

August 11, 2017 by Joseph Young at Bitcoin, Finance, News, Regulation

Australia’s Black Economy Taskforce (BET) has called for a war on cash and has revealed 35 different methods of eliminating cash. The taskforce placed the blame on the consumers for encouraging the use of cash, which is being manipulated and utilized by criminals to fund large-scale fraudulent organizations. In an...

Stamping Out Fake Wine with the Blockchain

August 9, 2017 by Michael Scott at Blockchain, Business, News

China’s wine market is in a rapid phase of expansion. Tied to a middle-class lifestyle, imported top-end wine is soaring in popularity, to where China now has the distinction of being one of the largest wine consuming countries worldwide. But with every market trend, there is a downside. This high...

Coordinated International Law Enforcement Effort Leads to Shut Down of AlphaBay

July 17, 2017 by Alex Lielacher at Bitcoin, Business, News

On July 5, Alphabay, one of the biggest marketplaces on the dark web, went offline mysteriously with no explanation from its developers or administrators. The website has yet to resume service, and it is believed to have been shut down by law enforcement. AlphaBay started its operations in December 2014,...

AlphaBay’s Downtime Unnerves Users: Another Exit Scam?

July 10, 2017 by Jamie Holmes at Altcoins, Bitcoin, News, Tech

On July 5, the largest dark net marketplace globally disappeared, with vendors and buyers unable to access their accounts and any bitcoin or cryptocurrency associated with it. Five days later, on July 10, there is no sign of the marketplace coming back. As the largest dark net market, even dwarfing...

Global War on Cash Intensifies, Demand For Gold, Silver & Bitcoin Surges

December 16, 2016 by Joseph Young at Bitcoin, Finance, News

A global war on cash has begun, as many countries have imposed heavy capital controls and have placed restrictions on fiat money. The increasing control of the authorities over traditional forms of money is pressuring investors, traders, households, and businesses to look for alternative safe haven assets like gold and...