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A group of South Korean commercial banks will launch a blockchain-powered customer ID verification platform in July 2018, local news outlet Korea JoongAng Daily reports today, June 12. According the report, the Korea Federation of Banks (KFB) will launch their “BankSign” identity verification system to be used in both online computer-based and mobile banking.  According to Korea JoongAng Daily, the move is intended to replace the 20-year old public verification system that is reportedly notorious for its complexity and inefficiency. Read more …

Singapore-based blockchain startup VeChain (VEN) and global logistics provider DB Schenker have co-developed a blockchain-based supplier evaluation system, according to a VeChain Foundation post published today, June 12. A new decentralized application (DApp) will use the VeChainThor blockchain to score DB Schenker’s third-party logistics partners in China based on collected data –  the result being an evaluation for services such as packaging, transportation, and the quality of goods. The Vechain Foundation claims that the DApp is the first ever implementation Read more …

Colombian banks have closed all the accounts of South American cryptocurrency exchange Buda.com without warning or explanation. The company experienced a similar issue in Chile some months back, where several banks decided to close its account along with those of several other exchanges. According to local news, the move by the Colombian banks was unexpected, and the banks didn’t disclose why it was closing the accounts. Buda.com sent an email to its customers where it explained the problems it was Read more …

As crypto mining through apps becomes more prevalent Mac has had to address it in the release of their new guidelines. Mac Prohibits App Mining in New Guidelines Crypto mining is way up in 2018 with a reported 4000% increase in Q1. Most of the of the drive by mining malware and techniques can be found on Android and PCs. However, a program called mshelper was found earlier this year which was sucking up processing power and overheating fans and Read more …

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! Coinbase, the biggest cryptocurrency exchange, brokerage, and wallet based in the US, integrated Ethereum Classic on June 12 ahead of other major cryptocurrencies such as Ripple and EOS. The community was taken aback by the abrupt decision of Coinbase to add ETC to its platform, given that it is the 18th most valuable cryptocurrency in the global market and there are more than a Read more …

Congress is set to consider yet another proposed mandate for a cryptocurrency study, this time in the area of sex trafficking. The House of Representatives Financial Services Committee is introducing a new bill today that, if passed and signed into law, would require the director of the Government Accountability Office (GAO) to open a study on “how virtual currencies and online marketplaces are used to buy, sell, or facilitate the financing of goods or services associated with sex trafficking or Read more …

Representatives of the German Federal Government have stated that cryptocurrencies do not pose a threat to financial stability, Cointelegraph auf Deutsch reports today, June 12. Nevertheless, the government sees the need for regulatory measures to control digital currencies. According to the Federal Government, volume of crypto asset transactions is too low compared to the size of the global financial system to pose a serious threat to the current financial system. However, the German government considers it appropriate to closely monitor Read more …

Joseph Lubin spoke at length earlier today about the disruptive potential of blockchain technology. The co-founder of the Ethereum network and blockchain software company ConsenSys was speaking at the MoneyConf in Dublin, the city his company has chosen to open a new office. Lubin: Blockchain Will Be “Orders of Magnitude More Disruptive” Than the Internet To promote the new ConsenSys offices in Dublin, Lubin addressed the financial conference on Tuesday according to Business Insider. There, he spoke about his interpretation Read more …

Economy & Regulation RBI, the central bank of India, has not made a proper effort to thoroughly research the nature and usage of cryptocurrencies before issuing its crypto ban. This is according to a reply sent by the bank to a Right to Information query filed by a lawyer. Copies of the communication have been distributed on social media and published by local crypto outlets. Also read: Pakistanis Find Ways to Trade Bitcoin Rendering Ban Ineffective The Right to Know Read more …

Is creation of a SEC office designated to deal with digital assets a good or bad news for the industry? This is the question that crypto community has been mulling over last week, following the SEC’s announcement of Valerie A. Szczepanik’s appointment to the brand new position of Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation for Division Director Bill Hinman. The media have promptly reduced the exuberant title to the likes Read more …