Dash Passes Litecoin and Monero to Claim Number 4 Cryptocurrency Status

Dash Passes Litecoin and Monero to Claim Number 4 Cryptocurrency Status

In a major price surge, Dash has nearly doubled market cap over the last month, overtaking Litecoin and Monero to become the fourth most valued cryptocurrency. This week one year ago, Dash was the #7 ranked cryptocurrency with a market cap of about $23 mln. This number grew steadily over the course of the year, finishing out the year with a market cap of $69 mln and maintained #7 ranking. Over the course of 2017 so far, however, Dash’s growth has significantly picked up steam, exceeding $100 mln over January. This month Dash has risen to a nearly $200 mln market cap, currently with a value....


Bitcoin-Tracking System Used by Danish Police To Make Drug Traffickers Arrests

Bitcoin-Tracking System Used by Danish Police To Make Drug Traffickers Arrests

The recent news that the Danish police have become the first in the world to hunt down Internet drug traffickers by analyzing related transactions is, in a way, a positive for the image of the top digital currency in the world, Bitcoin. With its latest rise to an all-time high in several markets, there is a tendency for the cryptocurrency to attract more users. Some of them use Bitcoin for criminal purposes, so the recent arrest in Denmark is a good move for the image of the currency. Not to demonstrate that it can be controlled by the police in any country but to show that it is possible....

CEO Says Bitcoin ‘Unsexy’ As BlockPay Adds DASH To Currencies

CEO Says Bitcoin ‘Unsexy’ As BlockPay Adds DASH To Currencies

Privacy focused altcoin DASH has partnered with payments platform BlockPay to enable its use for point-of-sale (POS) purchases of goods and services. The collaboration is only the latest in a series of high-profile gains for the coin, which is trading at all-time highs of $26 Friday. Munich-based BlockPay’s POS tool facilitates cryptocurrency as a payment method, providing stiff competition to card companies through its lack of merchant fees. Although the platform supports Bitcoin and Ethereum among others, CEO and co-founder Christoph Hering said in a press release that Bitcoin was....

Lisk Unveils Core Software Revamp, Security Top Priority

Lisk Unveils Core Software Revamp, Security Top Priority

Blockchain applications platform Lisk has announced it has successfully completed a total revamp of its core software. Releasing version 0.6.0, which features the latest LTS Node.JS 6.9 release tree and comprises multiple security and stability updates, developers said these factors were a top priority going forward. “Utilizing the latest Node.JS LTS release aligns with our mission to ensure maximum stability and security for the Lisk Core - a top priority for us,” Lisk Foundation President Max Kordek said in a press release. “Our latest version 0.6.0 will allow for further significant....

Japan Megabank Mizuho Completes Digital Currency, Document Sharing Trial over a Blockchain

Japan Megabank Mizuho Completes Digital Currency, Document Sharing Trial over a Blockchain

The Mizuho Financial Group, one of Japan’s largest financial services companies and among the three Japanese ‘megabanks’, has announced the development of a new blockchain application after completing trials of its custom digital currency and cross-border document sharing. The purpose of the trail was to test if a business process, built on a traditional centralized system, could be devised to function in a decentralized system at lower costs. Japan’s Mizuho first partnered US-based IT solutions provider and consultant Cognizant this time last year with the aim to build a blockchain....

FinTech Investment in Australia Increased in 2016; Slumps Around the World

FinTech Investment in Australia Increased in 2016; Slumps Around the World

Analysis has found that investment in Australia’s FinTech startups rose last year compared to the rest of the world. In a report from KPMG, The Pulse of FinTech Q4 2016 [PDF], it found that total FinTech investment in Australia increased to $US656 million across 25 deals in 2016 compared to $US185 million across 23 deals in 2015. It appears that authorities are beginning to realize the potential that FinTech can play in helping financial inclusion. So much so, that they are recognizing that improving the efficiency of banking services can systematically boost the performance of the....

Meet Bitcoin Mining Capital In The Making - Chinese Province Sichuan

Meet Bitcoin Mining Capital In The Making - Chinese Province Sichuan

Sichuan, a province of China, is transforming into a global Bitcoin mining capital primarily due to its cheap electricity, low population density and cold climate. China’s southwestern provinces, such as Sichuan, are seeing an exponential growth of Bitcoin mining facilities and centers as companies continue to search for mountainous regions with high altitude to cool down mining equipment without allocating additional resources. According to major local publications, including the China Money Network, more than 20 mining companies and 10,000 Bitcoin miners are located within Sichuan’s....

Taiwan Plans To Restrict Cash Purchases In Criminal Crackdown

Taiwan Plans To Restrict Cash Purchases In Criminal Crackdown

Taiwan is becoming the latest country to launch a war on cash, banning its use for transactions involving real estate and ‘luxury’ goods. As Zerohedge reports quoting the Economic Daily News, an unidentified government minister stated there would likely be an outright ban on using cash to pay for such items. Their actual cost, he said, would not play a factor. “With the goal of strengthening the prevention and control of money laundering, Taiwan's Ministry of Justice plans to promote large-scale transactions without cash. The first wave may lock real estate, luxury cars and jewelry....

Spice Haven Sichuan is Quickly Becoming China’s Bitcoin Mining Capital

Spice Haven Sichuan is Quickly Becoming China’s Bitcoin Mining Capital

China’s province of Sichuan is known for its spicy food flavors. Now, though, it’s becoming known as something else: a bitcoin mining capital. It was in 2013 that China was first thought to have discovered bitcoin and since then the country has been making up for lost time in mining the digital currency. What, though, has that got to do with the province of Sichuan? Well, according to the China Money Network, since 2015, over 30 percent of China’s bitcoin mining machines have been purchased from the Sichuan province. Considering that around 70 percent of bitcoin’s global computational....

Is Bitcoin Halal? How Cryptocurrency Conforms with Islam and Sharia

Is Bitcoin Halal? How Cryptocurrency Conforms with Islam and Sharia

Islam is the fastest growing religion in the world, according to Pew Research Center, there are about 1.6 bln Muslims in the world and they make up roughly 23 percent of the world’s population. The majority of the world’s Muslims live in Asia Pacific in countries like Indonesia and India even though traditionally areas of the Middle East and Northern Africa are traditionally associated with Islam. Fintech according to Sharia. There are unique needs of Muslims when it comes to banking and finance. The Islamic Canonical Law, popularly known as Sharia is based on the teachings of the Quran....

Bitcoin’s Transaction Backlog Hits All-Time High

Bitcoin’s Transaction Backlog Hits All-Time High

Almost 100,000 bitcoin transactions are currently stuck, waiting to move, with around $30,000 in fees queued for miners to pick up. The mempool backlog is above 56MB. The network is running above capacity, usually operating at more than 4 txs/s. Users are once more complaining. Price appears resilient and even going higher due to many other factors, primarily the much-anticipated ETF decision. As far as the protocol is concerned, the tape is stuck on repeat, the debate is on endless loop, the community is paralyzed, a solution is nowhere in sight. Miners appear to be preferring neither....

EU Laws Shape UK’s FinTech, Brexit May Set It Back, Says Digital Bank CEO

EU Laws Shape UK’s FinTech, Brexit May Set It Back, Says Digital Bank CEO

The founder and CEO of Starling, a digital bank, has expressed her views stating that EU laws have helped to shape the U.K.’s FinTech sector, but she fears that the result of Brexit could see the sector stalling. Anne Boden, who set up Starling in 2014, praised the EU by saying that it had come up with ‘very good payment and banking legislation,’ according to a report to the Financial Times. She said: I know the traditional banks don’t always like it, but if you look at it from a competition and innovation point of view, and especially for the development of fintech, then European....

Bitcoin Price Recovers in China Making Up For Huobi, OKCoin Withdrawal Suspension

Bitcoin Price Recovers in China Making Up For Huobi, OKCoin Withdrawal Suspension

Bitcoin price has fully recovered since the temporary Bitcoin withdrawal suspension on Huobi and OKCoin traders, having increased from $980 to $1,123 within two weeks. On Jan. 18, Huobi and OKCoin were requested by the People’s Bank of China (PBoC) to overhaul their know your customer, hereinafter KYC, and anti-money laundering, hereinafter AML, regulation. Local publications including the Shanghai Observer reported that the PBoC told the two exchanges they were in violation of local regulations and failed to meet industry-wide standards. Three weeks after the PBoC made its initial request....

Swiss Federal State Could See its Own Digital Currency

Swiss Federal State Could See its Own Digital Currency

Ticino, a federal state in southern tip of Switzerland could soon see its very own local digital currency called ‘Ticinocoin’, if the two computer scientists behind the cryptocurrency had their way. Sharing a border with Italy as its neighbor, the canton (federal state) of Ticino is a predominantly Italian-speaking region in the south of Switzerland. The goal is to value a single unit of TicinoCoin (TIC) to the equivalent of one Swiss franc, according to the Tribune deGeneve. Deployment or issuance of TICs would require approval by FINMA, Switzerland’s financial regulator that isn’t averse....

India’s Central Bank Tells Banks: Go Digital or Become Obsolete in the FinTech Age

India’s Central Bank Tells Banks: Go Digital or Become Obsolete in the FinTech Age

The deputy governor of the Reserve Bank of India has said that banks need to go digital in the face of FinTech or they could risk becoming obsolete as the industry continues to grow. According to a report from Bloomberg Quint, SS Mundra said, to an audience at the College of Agricultural Banking, that banks shouldn’t see financial technology companies as a threat, but that the two should work together to help under-served and credit-starved micro and small enterprises (MSMEs). He said: An estimate suggests that at present almost 93 percent of such (micro) units are outside the formal....

Facebook, IBM, Microsoft, Others To Help Use Blockchain for Public Good

Facebook, IBM, Microsoft, Others To Help Use Blockchain for Public Good

While trying to leverage technology for a public good, Citigroup is reaching out to some of the most prominent fintech players as it believes that technology innovation can only be accelerated through partnerships. Citi has recently announced the Cities Tech for Integrity Challenge (T4I) inspired by the goal to encourage technology innovators from around the world to create cutting-edge solutions to promote integrity, accountability and transparency in the public sector and beyond. The history of the public-private distinction is perhaps as old as the history of sharing responsibilities....

DASH Steams Ahead to All-Time Market Cap High - $23 Per Coin

DASH Steams Ahead to All-Time Market Cap High - $23 Per Coin

Privacy-focused altcoin DASH rocketed to a new all-time market cap high of $168.7 mln Sunday as its price cracked $23. Continued enthusiasm behind the coin and in general altcoin trading has ensured the asset remains a firm favorite with an increasing number of speculative investors. The highs are a far cry from the DASH of even a year ago, which traded at just 0.08 BTC per coin. A raft of integrations in the past weeks have additionally helped introduce the coin to a wider audience. Most recently, Cointelegraph reported its debut on exchange BitMEX to much fanfare, while European Bitcoin....

WWII Veteran Didn’t Want Bitcoins in Alleged £10,000 Pension Scam

WWII Veteran Didn’t Want Bitcoins in Alleged £10,000 Pension Scam

An odd courtroom drama played out at the Hastings District Courtroom in New Zealand today. The judge-only trial involved a 95-year-old WW II veteran and a 48-year old American migrant promising returns on investment with bitcoins exchanged from the veteran’s £10,000 RAF pension fund. As reported by regional publication Stuff, local police alleged that Roy Toler, a 48-year-old American migrant in New Zealand had taken the pension funds belonging to 95-year-old Geoff Bibby, a Lancaster Bombers navigator of the Royal Air Force during World War II, to invest them into bitcoins without the....

Digital Currencies Need Government Intervention Says Bank of Canada

Digital Currencies Need Government Intervention Says Bank of Canada

The Bank of Canada has been heavily researching blockchain technology, Bitcoin, and the use of digital currencies. Just recently, a team of central bank researchers published a report called “Canadian Bank Notes and Dominion Notes: Lessons for Digital Currencies” examining issues they believe revolve around private and public cryptocurrencies. Is Canada’s Central Bank Planning to Issue Its Own Digital Currency? Canada’s central bank has been rigorously studying digital currencies and has even tested its own prototype called Project Jasper. The bank’s Senior Deputy Governor, Carolyn....

Credit Suisse: Bitcoin 11 Times More Volatile Than GBP/USD

Credit Suisse: Bitcoin 11 Times More Volatile Than GBP/USD

Two reports by Credit Suisse suggest that Bitcoin is three times more volatile than oil and 11 times more than the post-Brexit pound sterling. The Swiss bank’s first article, published earlier this month titled “Is Bitcoin Safe?” seeks to advise on the resilience of the virtual currency as an asset. “Bitcoin does carry some unique risks,” analysts from its global marketing research department state. “The value of the cryptocurrency has been three times as volatile as the price of oil and 11 times more than the post-Brexit exchange rate between the dollar and the British pound.” In line....

LocalBitcoins Trading Up 1,200% in China Since PBoC Clampdown

LocalBitcoins Trading Up 1,200% in China Since PBoC Clampdown

LocalBitcoins has recorded an exponential 1,200% surge in China trading since the country’s exchanges started reacting to pressure from the People’s Bank of China (PBoC). 36 Million Yuan Per Week and Counting. The week ending February 18th was the best on record for the peer-to-peer marketplace, which registered a global high of over $24 million USD in transactions. The Chinese market, until just a few weeks ago practically dormant, saw a giant 36 million yuan in transactions compared with the previous week’s 6.6 million, which itself was a previous high. LocalBitcoins has seen a rapid....

3 Months Since SegWit Signalling Began, 54% of Miners Still Haven’t Voted

3 Months Since SegWit Signalling Began, 54% of Miners Still Haven’t Voted

SegWit, for example, requires roughly 95% network consensus. That number seems unrealistic right now, yet things may change in the future. One of the biggest “battles” going on in the bitcoin world goes between BU and SegWit. Three months ago, signalling for Segregated Witness was officially introduced on the bitcoin network. Things aren’t going as smoothly as people want it to, though. It appears as if SegWit support is dwindling slightly, while the majority of miners still don’t indicate a preference for either solution. A new chart surfaced on Twitter earlier today indicating how SegWit....

Sweden Presents Itself as an Attractive Post-Brexit Fintech Destination

Sweden Presents Itself as an Attractive Post-Brexit Fintech Destination

Sweden has emerged as a favorable alternative to fintech companies planning to set up base in EU following Brexit. With Brexit around the corner, Sweden could present itself as one of the alternative destinations for the European financial industry. The upcoming Brexit has turned into a speculator’s game. Britain’s exit from the European Union is expected to have a divisive effect on the country’s thriving finance and financial technology sector. All the efforts put in by the City of London to foster a healthy fintech ecosystem may go to waste as companies risk losing free access to the EU....

What is Ethereum?

What is Ethereum?

Ethereum is a worldwide network of interconnected computers (nodes) that enforce, execute and validate programs in a decentralized manner without requiring a server, memory, CPU power, or any other computing function, as it is all provided by thousands of ethereum nodes scattered across the world. In short, ethereum is a global computer. This global computer allows applications, called Decentralized Apps or DApps, through the use of smart contracts – simple javascript like code – to run exactly as they have been programmed, requiring no permission, having no intermediary, in a largely....

NatWest Takes on with FinTech Firms by Launching Digital Lending Platform

NatWest Takes on with FinTech Firms by Launching Digital Lending Platform

In a bid to respond to competition from FinTech firms U.K.-based NatWest Bank has announced that it is launching a digital lending platform that promises fast loan decisions to compete with services that peer-to-peer firms provide. In a report from Computer Weekly, the NatWest platform, known as the Esme platform, will offer unsecured loans to SMEs of up to £150,000. The FinTech industry is quickly gaining ground on traditional banking services, which is seeing banks ramping up their efforts to keep financial technology companies at bay. By doing so, banks such as NatWest are launching....

Governments and Banks Push Bitcoin Price to New Levels: Experts

Governments and Banks Push Bitcoin Price to New Levels: Experts

Besides the global influx of new users, government wars and restrictions against Bitcoin appears to be toughening the resilience and character of the cryptocurrency. Bitcoin has exhibited a very strong price character so far in 2017 despite a number of setbacks. This is expressed by the manner in which its price has always shown good strength in recovery. Alena Vranova, co-founder of SatoshiLabs / TREZOR, says: “All those setbacks, hurdles and government restrictions are a blessing, making Bitcoin more resilient. The fact that Bitcoin hit $1000 for the second time in its short history also....

GMO Click Might Connect FX with BTCs

GMO Click Might Connect FX with BTCs

Even though bitcoin trading is quite a popular speculative activity, the BTC trading volumes cannot be compared to the world’s largest market – Forex. Earlier this year, the world’s largest Forex broker, GMO Click, has decided to integrate its trading services together with its bitcoin wallet – GMO Wallet Co. Ltd. Such an update might sound as nothing serious for the bitcoin industry, yet the news are much more important than they seem. According to topratedforexbrokers.com, GMO Internet, a company behind GMO Click, was established in 1991 and its market capitalisation is set at 177.28....

Vietnamese Bitcoin P2P Platform Remitano Targets Global Expansion

Vietnamese Bitcoin P2P Platform Remitano Targets Global Expansion

Remitano, a Vietnam-based P2P platform for trading bitcoin, has expanded its services across the English-speaking world. The company is targeting bitcoin exchangers, investors and users of remittance services, beginning with Asian countries, including Vietnam, Malaysia, Cambodia and China. Leading sources of traffic on Remitano besides Vietnam are Nigeria and Malaysia. Focus: Fraud Prevention. “Our new platform will help bring bitcoin to everyone, by means of preventing fraud and scamming among the bitcoin community,” said CEO and co-founder Dung Huynh. “Bitcoin fraud is a problem that is....

US Regulatory Environment Hinders FinTech Growth

US Regulatory Environment Hinders FinTech Growth

U.S. FinTech investments in 2016 reached $4.27 billion illustrating that the financial technology sector in the country is continuing to grow at a significant pace. However, with this amount of FinTech investment you would naturally assume that the U.S. is one country where the topic of regulation is not an issue, reports Tech Crunch. And yet, that’s not the case. According to a report from Reuters in 2016, investments declined by around 30 percent in the U.S. even if the nation did still manage to bring in over $4 billion. However, while the U.S. is producing FinTech companies that are....

Tor Integrated by OpenBazaar Increassing Anonymity for Bitcoin Marketplace

Tor Integrated by OpenBazaar Increassing Anonymity for Bitcoin Marketplace

Earlier this month, a Tor pull request “Tor #342” was submitted to OpenBazaar’s open source code repository on Github with an aim of providing increased anonymity and privacy to users on the OpenBazaar bitcoin marketplace. On February 15, the OpenBazaar development team officially completed the review and merging process of the pull request, integrating Tor into the network. The integration of Tor is a part of a larger network reconstruction led by the OpenBazaar development team in order to increase efficiency of the network, change the coding language of the platform, introduce built-in....