New York Times Confirms It’s Using Blockchain to Combat Fake News

The New York Times Company has revealed new details relating to its ongoing blockchain publishing experiments first revealed by CoinDesk in March. Published Tuesday, a new website for the publisher’s News Provenance Project explains how the storied newspaper’s Research and Development team plans to use Hyperledger Fabric’s permissioned blockchain to authenticate news photographs in partnership with IBM Garage, the tech giant’s accelerator program. The project aims to combat misinformation and adulterated media, which it argues harms small and large publishers alike. “News Read more …

Alleged Silk Road Drug Dealer Arrested For Using Bitcoin For Money Laundering

Silk Road, a dark web drug market founded by Ross Ulbricht under the pseudonymous nickname “Dread Pirate Roberts” has had a critical impact on Bitcoin. While it’s associated with the dark web marketplace has forever left a stain on the crypto asset, Bitcoin may also not be where it is today if it didn’t catch on as the currency of choice for Silk Road, due to the layer of anonymity it provides. Silk Road has now been defunct for going Read more …

Senate Banking Committee to Hold Hearing on Crypto Regulation Next Week

The Senate Banking Committee will hold a hearing on regulatory frameworks for cryptocurrencies and blockchain next week. The committee said in a press release that it would hold an open session titled “Examining Regulatory Frameworks for Digital Currencies and Blockchain” on July 30, though it is unclear if this would be a fact-finding mission or if any specific pieces of legislation would be discussed. Circle CEO Jeremy Allaire, representing the Blockchain Association; Rebecca Nelson, a member of the Congressional Research Read more …

Prominent Nigerian Politician Calls for Legal Framework for Cryptocurrencies

Femi Gbajabiamila, the speaker of the Nigerian House of Representatives, has called for a substantive legal framework for cryptocurrencies in the country. According to a report by Nigerian news daily Daily Post on July 23, Gbajabiamila wants the country to develop clear regulations for digital assets so that the country does not get left behind as cryptocurrencies become more widely adopted.  Speaking at a visit by the board of the Nigerian Deposit Insurance Corporation (NDIC), Gbajabiamila said: “On the issue Read more …

Analysts Believe Bitcoin is on The Path to $7,600 As 2018 Bear Market Fractal Continues to Unfold

Bitcoin and the aggregated crypto markets have been facing a significant amount of pressure from sellers as of late, which has driven BTC’s price to below $10,000, putting the cryptocurrency’s recent bullishness in grave jeopardy. Analysts are now noting that a similar fractal pattern to the one that occurred through the course of the 2018 bear market is currently unfolding, which could mean that BTC is heading towards $7,600 in the near-future. Bitcoin Dips Below $10,000 as BTC’s Bears Incur Read more …

Japanese General Trading Company Backs Blockchain Platform for Wind, Solar

Marubeni Corp., a major Japanese sōgō shōsha, or general trading company, is now backing a blockchain-based power trading platform. Per a report by Reuters on July 23, Marubeni  has issued a loan to Lithuania-based blockchain project WePower. Per Reuters, the size of Marubeni’s stake in WePower after converting the loan is yet to be determined. WePower has reportedly developed a platform which allows small- and medium-sized enterprises to more easily buy power specifically from wind- and solar-based sources via standardized Read more …

New York State Digital Currency Task Force Appoints New Members

Legislators from the New York State Assembly have appointed six members to the New York State Digital Currency Task Force. In a video announcement on July 22, Assembly member Clyde Vanel announced six appointments to the group, which is tasked with investigating and making regulatory recommendations regarding digital currencies and blockchain technology.  The task force will consist of 13 members, six of whom are appointed by the Assembly, while the remaining seven will be appointed by the governor. The six Read more …

Bitcoin’s ‘Untouched Supply’ Reaches All-Time High of 21.6%

Newly released data from Coin Metrics shows that the number of un-moved Bitcoin has risen to a new high. Does this mean Bitcoin is a better store of value or does it still have potential as a medium of exchange? Is HODLing Bitcoin Back in Style? Today, crypto-analyst and Tales From the Crypt podcast co-host Matt Odell noted that the amount of untouched Bitcoin has grown significantly over the past five years. Odell referenced a Coin Metrics chart which shows Read more …

Bitcoin Cash Adoption Continues to Spread in North Queensland and Japan

BCH merchant acceptance has continued to grow month after month but there are a few regions in the world where bitcoin cash retail acceptance is thriving. Over the last few weeks, North Queensland and Japan have shown significant growth and continue to dominate as some of the densest territories of BCH merchant adoption worldwide. Also read: Bitcoin Futures Update: Bakkt Testing, CME Breaks Records, and a $100K Call Option Bitcoin Cash Is Spreading Throughout Japan and North Queensland Both North Read more …

Philippines-Based UnionBank Completes Blockchain Remittances Pilot

The Philippines-based UnionBank has successfully completed a pilot of a blockchain-based cross-border remittance from the Philippines to Singapore, according to a press release published on July 23. The pilot is the result of a partnership between UnionBank and Singapore-based OCBC Bank, wherein the parties deployed the Adhara liquidity management and international payments platform and UnionBank-UBX’s i2i platform to make the remittance.  To ensure financial inclusion for the unbanked Specifically, the bank used a blockchain-based tokenized fiat to remit from OCBC Read more …

Saurel Offers Convincing Reasons Why Bitcoin is Better than Cash

People are becoming increasingly aware of the advantages of using Bitcoin. Now, developer Sylvain Saurel identifies several compelling reasons for preferring Bitcoin over conventional currencies. “Bitcoin is Better than Cash” The combination of an obsolete banking system and a three-thousand-year-old fiat monetary system is becoming incompatible with the new borderless, decentralized, and fast-moving digital economic model. As a result, a growing number of industry experts agree that BTC is better than cash. For example, in December 2017, Microsoft co-founder Bill Read more …

Industry Leader Claims U.S. Outlawing Crypto Ownership Would be “Worst Case Scenario”

Although most of the crypto industry has long known that the US is far behind other countries in terms of implementing “do no harm” regulations on nascent markets, recent comments from President Donald Trump and Treasury Secretary Steve Mnuchin have signaled that rather than creating a “sand-box” regulatory environment for Bitcoin and cryptocurrencies, they will begin policing them with strong regulations. Now, the CEO and Founder of one of the world’s largest cryptocurrency exchanges is noting that a “worst case” Read more …