Author: Daniel Palmer

Oil Data Firm Platts Rolls Out Commercial Blockchain Platform

Energy markets data provider S&P Global Platts has announced the commercial deployment of a blockchain platform for sharing oil inventories in the United Arab Emirates (UAE). Marking one of the first real-world products utilizing blockchain tech in the oil industry, Platts’ network to allow market participants to submit data on oil storage on a weekly basis to the UAE’s Fujairah Oil Industry Zone (FOIZ), as well as the overseeing body FEDCom. The technology will allow FOIZ terminal operators to deliver their inventory data in a “more efficient and secure environment,” said Mamdouh Malek Azizeh, commercial cirector of Fujairah Oil...

Read More

UK Treasury Launches Inquiry Into Cryptocurrency

The U.K. Treasury has today announced that it will conduct an inquiry into issues around cryptocurrencies and blockchain technology. Launched by the Treasury Committee, the investigation will take several angles including examining the role of cryptocurrencies in Britain, including potential “opportunities and risks” for consumers, the business community and government. The potential impact of blockchain and distributed ledger technology on financial institutions and infrastructure is also under the magnifying glass, as is the matter of how to strike a regulatory balance between protecting consumers and enterprise without stalling innovation. In particular, the inquiry will “scrutinise the regulatory response” to...

Read More

R3 Pilots Blockchain Trade Finance Platform with Global Banks

Blockchain software startup R3, trade finance tech provider TradeIX and a group of major banks have moved their Marco Polo trade finance platform to the pilot stage. The news follows on from what the firms call in a press release a “successful” proof-of-concept that commenced last September in partnership with BNP, Commerzbank and ING. The project is eventually hoped to see further expansion this year, with additional banks and third-party service providers, including credit insurers and enterprise resource planning and logistics providers, coming on board. The companies aim to develop a “fully interoperable” open-source trade finance network built with...

Read More

Customer Tries to Withdraw $20 Trillion in Crypto Exchange Glitch

A system error at a Japanese cryptocurrency exchange saw a user attempt to make off with a huge amount of bitcoin, according to reports. The Zaif exchange run by Osaka-based Tech Bureau Corp. saw the brief glitch last week which enabled traders to make crypto purchases for free, according to Reuters. As customers realized the situation, a number attempted to make the most of 20-minute window for free coins. One, according to the Asahi Shimbun, even placing a order for bitcoin worth 2,200 trillion yen ($20 trillion) at the time, and then moving to quickly sell it again. Tech...

Read More

Report: Japanese Crypto Exchanges Unite to Form Self-Regulatory Group

A group of Japanese cryptocurrency exchanges is reportedly uniting to form a new self-regulatory body in the wake of the recent Coincheck hack. According to Reuters, which cites unnamed sources close to the group, 16 exchanges are making the move to self-regulate after the Coincheck exchange had $533 million-worth of NEM tokens stolen in a security breach in January. The new organization could be announced as soon as next week, the report suggests. The sources said a plan to merge two existing groups – the Japan Cryptocurrency Business Association and Japan Blockchain Association – could not be agreed upon,...

Read More

Finland Mandates Cold Storage, Public Auctions for Seized Bitcoins

Finland’s government released new guidelines today that set out how law enforcement officials must handle cryptocurrencies they confiscate. The official agencies in charge of storing the cryptocurrencies will now be prohibited from storing them on exchanges, and must instead keep them offline and inaccessible from the internet, a Bloomberg report states, citing official Treasury documents. The ruling effectively means the agencies involved will need to identify some form of cold storage solution, in which they would maintain a wallet that does not have an active Web connection. Bloomberg said the Helsinki customs office would not indicate how it has been storing...

Read More

Bitcoin Price Ticks Higher Amid Strong Korean Demand

Bitcoin’s recovery continues apace, with prices passing $11,600 in the morning’s trading. According to CoinDesk’s Bitcoin Price Index, at around 07:00 UTC today, the cryptocurrency reached $11,645.12, before dropping slightly again. At time of writing, the bitcoin global average was at $11,462. Notably, valuations are higher over on data provider CoinMarketCap, where high prices in South Korea seem to be inflating the figures. At press time, bitcoin was quoted at $11,591 – up 5.5 percent over 24 hours, and 35 percent for the week. The site’s market data reveals that on South Korean exchanges Bithumb and Upbit bitcoin is...

Read More

South Korea to Support ‘Normal’ Crypto Trading, Says Finance Watchdog

South Korean  appears to be softening its stance on cryptocurrency trading. According to Yonhap News Agency, Choe Heung-sik, governor of the Financial Supervisory Service (FSS) has said the government “will support [cryptocurrency trading] if normal transactions are made.” At a meeting with representatives from cryptocurrency exchanges, Choe also said the government will “encourage” banks to work with cryptocurrency exchanges, the report states. While brief, the statements will likely be seen positively by South Korea’s crpyto supporters, as well as world markets, since the option to outright ban cryptocurrency exchanges had been mulled by regulators as one way to calm...

Read More

Venezuela’s ‘Petro’ Token Launches in Pre-Sale

The Venezuelan government has officially launched the pre-sale of its controversial “petro” token, according to a report. The petro was first announced in early December 2017 by President Nicolas Maduro as a way to circumvent U.S. sanctions, amid an economic crisis and a plunge in the value of the bolivar. The token is said to be backed by commodities, including oil, of which the country has notable reserves. According to Latin American news source Telesur, 82.4 million tokens are available initially. The president has previously said that 100 million petros will be issued, valued at over $6 billion. President...

Read More

$850 Million Raised in ICO So Far, Says Telegram

Messaging app provider Telegram says it has raised $850 million in the first part of its controversial initial coin offering (ICO), public records show. If confirmed, the raise is by far the largest seen for any ICO to date. According to CoinDesk’s ICO Tracker, the previous record was the token sale by Tezos, which raised $232 million last year. Filecoin and Bancor raised more than $200 million and $150 million in the same year, respectively. The amount raised was revealed in an SEC notice of securities exemption, which also indicates that the firm aims to use the funds for...

Read More

Free Price Analysis Tools

  • Bitcoin9783.14
    1h %
    -0.44%
    24h %
    -9.13%
    7d %
    -3.58%
  • Ethereum803.037
    1h %
    0.47%
    24h %
    -6.29%
    7d %
    -14.14%
  • Click here for more price analysis tools & charts, and more currencies

    Beginner’s Course & Quick Guide

    Free Masterclass

    Discover The Future Of Money, In Detail

    In this free masterclass, discover:
    • Best Bitcoin & Cryptocurrency Investment Strategies (And The Wonderfully Shocking Future Outlook)
    • Why Cryptocurrencies Will Someday Replace“Normal” Money Completely
    • How The Biggest Transfer Of Wealth In World History Will Happen Soon (Are You In Or Out?)
    Click here to get started, its free!

    Free Your Mind: Redefine & Demystify “Money”

    Free Webinar

    Free Masterclass