Author: Jon Buck

Taipei Partners With IOTA To Become A Blockchain-Powered Smart City

Taipei hopes to become a ‘leading’ smart city with the help of IOTA’s Tangle technology. Taipei, Taiwan is seeking to become a smart city by utilizing the power of Distributed Ledger Technology (DLT), or Blockchain. The city has chosen to partner with IOTA, the inventors of the so-called Tangle technology for the Internet of Things (IoT), to provide a number of new technology features for residents. Wei-bin Lee, Commissioner of the Department of Information Technology in Taipei City Government, suggested in an official press release that the ‘unique technology’ offered by IOTA will usher in a ‘new era of...

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Oldest Chinese Bitcoin Exchange BTCC Acquired By Hong Kong Investment Fund

BTCC has been acquired by Hong Kong-based fund, will focus on mining pool, wallet software and crypto exchange going forward. The BTCC Bitcoin exchange, formerly known as BTC China, has been acquired by a Hong Kong-based Blockchain investment fund on terms that are yet to be disclosed, the company has revealed in a blog post Monday, Jan. 29. Calvin Cheng, an advisor for the yet-undisclosed investment fund, expressed his excitement about their acquisition of the longest-running Bitcoin exchange in China, saying that they were “humbled” by the opportunity. According to BTCC’s press release, the company will now focus on...

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Coincheck To Refund All Customers Affected By Hack, Faced By Community Support

Coincheck has promised to refund all 523 mln NEM stolen in recent hack, faced by support from local community. Japanese cryptocurrency exchange Coincheck has announced Saturday, Jan. 27, that it will issue full refunds to all of the 260,000 of its users who have become victims of the Friday NEM hack. The Coincheck exchange has been hacked yesterday, Jan. 26, resulting in a massive loss of 523 mln NEM coins, worth approximately $534 mln at that time. During a press release following the hack it has been revealed by the exchange’s representatives that the funds were stored on a single-signature hot wallet, constituting a relatively low-security environment. The company has now confirmed its intention to refund the stolen money to the affected users. According to the announcement, the refunds will be done using the exchange’s own capital. The company is still considering the exact timing and methodology for the process. However, it has already announced that the compensation for each NEM coin will be JPY 88.549, which is the weighted average exchange rate during the period from when the trading was halted to the release of the latest announcement. Coincheck indicated that they are referencing the XEM/JPY exchange rate at Zaif, another Japanese exchange which has the most trading volume for XEM globally. Furthermore, Coincheck has again confirmed their intention to stay in business, as opposed to declaring bankruptcy, saying: ”Along with...

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Coincheck: Stolen $534 Mln NEM Were Stored On Low Security Hot Wallet

Coincheck exchange hack: 523 mln NEM were stored on a single-signature hot wallet, staff “deeply regret” what happened. Japanese cryptocurrency exchange Coincheck, one of the largest in the country, was the victim of a massive hack resulting in a loss of 523 mln NEM coins, worth approximately $534 mln. The coins were stolen via several unauthorized transactions from a hot wallet at 3:00 am local time on Friday, Jan. 26. Following the hack, the Coincheck exchange has hosted a press conference, attended by Cointelegraph’s Japanese correspondents, to provide the details of what has happened and what’s coming next. NEM...

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Robinhood Mobile App To Launch Zero-Fee Crypto Trading In February

Zero-fee cryptocurrency trades are coming in February through the Robinhood stock trading app. Starting in February, no-cost stock trading app Robinhood will allow users to trade Bitcoin and Ethereum with no fees whatsoever, the company has announced in a blog post Thursday, Jan. 25. The announcement is a welcome one to users of other cryptocurrency exchanges who have grown accustomed to paying fees ranging from 0.1% to as high as 4% per transaction on platforms like Coinbase. Robinhood is also allowing users to track the price of a number of other cryptocurrencies including Ripple and Litecoin, although the actual trading...

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World’s First Cryptocurrency Airport In Brisbane

Brisbane airport is partnering with TravelbyBit to become crypto friendly. Brisbane Airport (BNE) will soon become the first cryptocurrency airport terminal, according to reports from local media. The airport is working with local and international companies to make the entire terminal cryptocurrency friendly, with stores, coffee shops and restaurants accepting Bitcoin, Ether and Dash. The move to digital currencies makes sense for the airport, as the number of crypto investors increases. According to Roel Hellemons, the General Manager of Strategic Planning and Development: “Many people around the world have made money investing in cryptocurrencies and a lot of these people travel internationally, so...

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Volkswagen Chief Digital Officer Joins Blockchain Non-Profit Board

Volkswagen’s Chief Digital Officer Johann Jungwirth to join the IOTA advisory board. The IOTA Foundation, a non-profit Blockchain foundation for the Internet of Things (IoT) has announced that the Chief Digital Officer (CDO) of Volkswagen, Johann Jungwirth, will join the Supervisory Board, effective immediately. Jungwirth said: The IOTA platform allows connected devices to digitally send money to each other in form of micropayments, making it useful for the IoT. While board additions are not often of particular note, the recent additions of both Jungwirth and Dr. Hongquan Jiang, Partner at Robert Bosch Venture Capital, represent growing mainstream interest in...

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Huobi Offers Platform Utility Token, ‘Not An ICO’

Former exchange Huobi announces token creation for platform utility. Huobi, the cryptocurrency exchange, has announced that they will issue a token (the ‘Huobi Token’ or HT) starting January 23. The offering will be capped at 500 million tokens, of which 300 million will be offered to investors and the remainder kept as user incentives or team rewards.  The offering, though, is not to be understood as an ICO, with the Huobi press release indicating that only users who are actively participating in the platform can receive HT.  “HT is not an initial coin offering (ICO). Users can only get...

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Lightning Network’s Pizza Day? First Ever Physical Purchase On Lightning Network

The first ever physical purchase using a lightning network channel may have occurred two days ago, according to a Reddit post. The first ever physical transaction may have been completed on the Lighting Network two days ago, according to Reddit user /u/btc_throwaway1337, who purchased a VPN Router through a payment channel provided by TorGuard. The Lightning Network, designed to scale Bitcoin up for a global user base, functions by opening and recording a channel between two users on the Blockchain, with information about transactions only being recorded on the original Bitcoin Blockchain after the channel is closed. The Reddit user explained...

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Indian Banks Suspending Bitcoin Exchange Accounts

Bitcoin exchange bank accounts are being closed or scrutinized in India. Bitcoin exchanges are under fire in India, as many of the nation’s top banks have suspended or greatly curtailed functionality on exchange accounts. State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have all taken strong action toward crypto exchanges, either closing accounts or severely limiting functionality. The banks cite the risk of dubious transactions, according to local reports. The news follows the request of advocate Bivas Chatterjee who recently filed a public interest litigation (PIL) in Calcutta to impose immediate regulations on...

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