Day: December 20, 2018

Wyoming County Moves to Put Land Records on Blockchain

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A county in the blockchain-friendly state of Wyoming is planning to put its land registry on a distributed ledger. Teton County (pop. 23,265 ), which includes the town of Jackson and part of Yellowstone National Park, has signed a memorandum of understanding (MOU) with Medici Land Governance (MLG). The startup,  majority-owned by Overstock.com’s blockchain investment arm Medici Ventures, will build the new registry on the Open Index Protocol (OIP). The new system will keep track of land transactions, such as mortgages, releases of liens and similar records, starting from 1996, Overstock said in…

Ethereum Price Analysis: ETH Buyers In Full Control Above $108

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Key Highlights ETH price extended upsides and traded above the $114-116 resistance area against the US Dollar. This week’s followed major bullish trend line is intact with support at $106 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains in a solid uptrend and dips near $108 and $106 are likely to find strong bids. Ethereum price gained bullish momentum against the US Dollar and bitcoin. ETH/USD traded close to $120 and it remains well supported for more gains. Ethereum Price Analysis Yesterday, we discussed that…

Facebook is Developing a Cryptocurrency for Transfers in WhatsApp

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Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market in India. Citing sources familiar with the matter, Bloomberg states that Facebook is developing a stablecoin. The sources further stated that the coin will not be released anytime soon, as Facebook is still working on a strategy for custody assets i.e. the asset to which the stablecoin will be tied. The Indian…

Parity Launches Beta Version of Tool Stack for Building Blockchains

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United Kingdom-based blockchain infrastructure provider Parity has launched a beta version of Substrate, its tool for creating customized blockchains, according to a press release published Tuesday, Dec. 18. The release states that Substrate is designed to provide “maximum technical freedom” while creating blockchains. It supports multiple programming languages, users can make their own consensus mechanisms, and it is compatible with most existing consensus algorithms. Parity is also going to add more consensus mechanisms in subsequent releases, making them hot-swappable and allowing users to switch between different mechanisms without a hard…

Report: ConsenSys to Lay Off up to 60% of Its Staff

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Blockchain software technology company ConsenSys may reportedly be making significant cuts to its staff, technology news outlet the Verge reported Dec. 20. Citing a source familiar with the matter, the Verge reports that ConsenSys is spinning out startups it previously backed, some of them without financial support. This will reportedly impact the ConsenSys’ workforce, especially its internal incubator Consensys Labs. The source said that the number of employees to be laid off could be anywhere between 50 and 60 percent of ConsenSys’ 1,200 person workforce. According to the source, ConsenSys…

New Legislation Proposes to Exclude Crypto From Securities Laws

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Two United States congressmen introduced a bill in the House of Representatives on Dec. 20 that would exclude digital assets from being defined as securities. The “Token Taxonomy Act of 2018” was introduced by Reps. Warren Davidson (R) and Darren Soto (D) and seeks to exclude digital currencies from being defined as securities by amending the Securities Act of 1933 and the Securities Act of 1934. The bill especially calls to: “… direct the Securities and Exchange Commission to enact certain regulatory changes regarding digital units secured through public key…

70% of Respondents Prefer Being Gifted Money in Digital Currency, Survey

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The vast majority of respondents to an ongoing United Kingdom central bank Twitter survey, posted Dec. 17, said they would prefer to receive a gift of money in digital currency. Screenshot of the Bank of England’s Twitter survey. Source: Twitter The Bank of England’s survey asks participants to choose their preferred way to receive money as a Christmas gift, showing the options cash, bank transfer, gift voucher and digital currency. At press time, 8,230 people have responded and 70 percent of them have chosen digital currency. Cash is in second…

Current Rally Could Be Leading to Something Bigger

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Amidst another crypto rebound, crypto investment bank Galaxy Digital said in a note to clients on Dec. 20 that short rallies like the current one are what happens “before a real rally ensues.” Crypto markets are seeing a fifth day of rebound, with Bitcoin (BTC) breaking the $4,000 threshold for the first time since it plunged below the price point on Dec. 3, Mike Novogratz‘s Galaxy Digital told its clients that crypto markets could gain even more momentum. In a note entitled “Why this rally could end up lasting longer…

Crypto Markets Deserve ‘B+ Grade’ for 2018, Says Investment Exec

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Despite a massive sell-off this year, a former AQR Capital Management executive gave crypto markets’ 2018 performance a “B+ grade” in an op-ed for Bloomberg, Dec. 20. Aaron Brown — AQR’s former Chief Risk Manager and an author on risk management and gambling-related topics — pointed out Bitcoin’s (BTC) 80 percent fall from its $20,000 one year ago mirrored peaks and falls in previous years, namely in 2011 and 2013. Brown outlined the fact that Bitcoin’s decline this year has actually been relatively milder than the rapid drop its saw…

Media Alliance to Use Blockchain Technology for Copyright Protection

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A media copyright protection alliance has been established in Beijing to provide copyright protection services using blockchain technology, according to the Chinese state-owned International Finance News on Dec. 19. The newly established alliance — the “China Financial Media Copyright Protection Alliance” — involves more than 30 major financial media outlets such as International Finance News, Economic Information Daily, China Business News, Beijing Business Daily, and the Daily Economic News, among others. The alliance aims to provide “reasonable authorization systems, improving authorized transaction mechanisms, strengthening industry copyright self-discipline, and developing copyright…