Why EBA Proposals Would Set an Absurd Precedent for Bitcoin Startups
The European Banking Authority (EBA) wrote an opinion on the application of its 4th Anti-Money Laundering Directive (4AMLD) to virtual currency exchanges and wallets last week. A response to recommendations from the European Commission, the EBA's remarks notably mention that VC exchanges and wallets operating in multiple countries in the EU "may […] be required to be registered or licensed in each Member State in which they intend to provide VC-related services". The seemingly small aside in the nine-page response is notable, as such a measure would be akin to the state-by-state....
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A philosophical dive into how truly absurd the slow but sure monetary takeover bitcoin has been experiencing is.
The US Department of Energy (DoE) is now looking into blockchain tech. According to a research area overview document published in late December, the DoE – which is tasked largely with the security and oversight of the US nuclear industry and nuclear weapons stockpile – is seeking research proposals "for the realization of robust fossil energy systems" incorporating blockchain. The solicitation for proposals is the first for the DoE, though other departments in the US government have in research projects and startups to date. A number of startups in the space are focused on the....
Bitcoin Improvement Proposals (BIP) are proposals for making change to the Bitcoin network. These proposals on the blockchain are activated after gaining the required consensus from the Bitcoin community. While it is a standard practice for Bitcoin Core developers to introduce BIPs, these may require more than just technical expertise to ensure positive growth of Bitcoin as a currenc. Over the past two years, a number of Bitcoin Improvement Proposals have been put forth by various members of the Bitcoin community. These proposals call for the block size to be increased from anywhere....
Recently, institutional trading and clearing platform, LedgerX, co-founder and CEO Paul Chou, stated that most of the proposals and projects led by blockchain startups to implement distributed ledger technology in the traditional financial sector are extremely misguided. The former code-writer for Goldman Sachs said in an interview with the New York Business Journal: Blockchain Expanding. Since early 2015, the Bitcoin space has seen an explosive growth of blockchain startups or distributed ledger technology providers which facilitate enterprise-level infrastructure for financial....
Cardano’s founder, Charles Hoskinson, has clarified why the blockchain platform was excluded from a prominent US government initiative meant to publish official economic data on public blockchains. Blockchain networks like Ethereum, Solana, Avalanche, and Optimism made the cut; Cardano didn’t. Hoskinson revealed during a YouTube AMA that the reason wasn’t technical or regulatory, but it was grounded in economics. Specifically, he said the integration fee quoted by Oracle specialist Chainlink was absurd, which made Cardano’s participation really unfeasible. Chainlink’s Absurd Fee As one of....