Day: December 21, 2018

US Telecoms Giant Comcast to Make Blockchain Software Available in 2019

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American global telecommunications conglomerate Comcast aims to make its blockchain initiative Blockgraph commercially available in 2019, according to a press release published Dec. 21. “Comcast is currently working with NBCUniversal to test Blockgraph’s capabilities with plans of incorporating it into its addressable offering in early 2019,” states the release. Comcast is a global media company founded in 2001, that provides cable television, Internet and telecoms services. Comcast is purportedly the second largest broadcasting company in the world in terms of revenue and largest TV company in the United States. The…

US Lawmakers Introduce Bill to Impose Sanctions on Iranian National Cryptocurrency

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United States lawmakers have introduced a bill to levy further sanctions on Iranian financial institutions and the development and use of the national digital currency. HR 7321 was introduced in the House of Representatives by Rep. Mike Gallagher on Dec. 17. In a bid to combat money laundering and terrorism-related activities, the “Blocking Iran Illicit Finance Act” calls for sanctions on the Iranian financial sector and on the development and use of the national cryptocurrency. The act specifically prohibits transactions, financing or other dealings related to an Iranian digital currency,…

Bitfinex Crypto Exchange Launches Margin Trading for Stablecoin Tether

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Hong Kong-based cryptocurrency exchange Bitfinex has introduced margin trading for stablecoin Tether (USDT), according to a blog post published Dec. 21. Bitfinex has launched margin trading for the USDT/USD pair, which would purportedly lead to more efficient price discovery and enable users to hedge the exposure taken on stablecoins. Along with a dedicated lending market, USDT will be available as collateral for margin positions, the post further reads. While stablecoin margin trading is currently limited to USDT/USD, the exchange is planning to introduce margin trading for some other stablecoin pairings…

Following Crypto Mining Crash, GPU Producer Nvidia Worst Performer in S&P 500

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The drastic decrease in crypto mining profitability has hit graphics processing unit (GPU) producers like Taiwan-based Nvidia hard. In Q4 2018, the firm experienced a massive sell-off of its shares, cutting the stock price by 54 percent and making it the worst performer in the S&P 500, CNBC reports on Dec. 21. From 2016 to September 2018, Nvidia’s market value markedly increased from $14 billion to $175 billion as demand for its GPUs in artificial intelligence (AI) and cryptocurrency mining grew. In May, the firm reported its profits from crypto…

Crypto Firms Merge to Build Software for Institutional Investors

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Two crypto firms are merging in a bid to make crypto-asset management easier for institutional players. CoinVantage, formerly a subsidiary of accounting firm MG Stover, is joining with Picks & Shovels, a provider of tools for crypto investors, to become a new entity known as Interchange. The new, eight-person company features software products that will initially service over 100 clients, including fund administrators, hedge funds and digital exchanges. Front- and back-office systems for managing crypto assets are an unsexy, yet potentially lucrative corner of the blockchain industry as more financial institutions…

Coinbase CEO Armstrong Pledges to Give Crypto Wealth to Charitable Causes

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Coinbase CEO Brian Armstrong has joined other super-wealthy individuals in pledging to donate much of his net-worth to charitable or other causes. In a blog post on the website of The Giving Pledge – founded by Bill Gates and Warren Buffet to encourage the rich to donate their wealth to worthy causes – Armstrong said: “Once a certain level of wealth is reached, there is little additional utility from spending more on yourself. … Whether it’s through improving education, creating a more level playing field, or increasing economic freedom, I’m interested in…

Civil-Backed News Site Stores Full Article on Ethereum Blockchain

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A U.S. news article has been stored in its entirety onto the ethereum blockchain, in what its writer claims is a world first. Maria Bustillos, editor with the journalist-owned Popula news site, announced Monday that she had archived an article originally published in Death and Taxes magazine onto the ethereum in full, as well as storing its hash on the IPFS protocol. As a result, the article will be preserved “for as long as the … blockchain and IPFS persist.” Image via Popula Bustillos told CoinDesk that the goal of storing…

Grin and Beam: A Tale of Two Coins Being Built on Mimblewimble

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Mimblewimble is about to go live – not in one, but in two distinct implementations. On Dec. 25, and Jan. 15, respectively, two different networks – dubbed Beam and Grin – are expected to launch, each offering slightly different custom builds of the privacy-oriented protocol. “So far, privacy has always been introduced at the detriment of scalability. We’re changing that,” the pseudonymous Grin developer, known as “Ignotus Peverell”, told CoinDesk. First proposed in 2016 by an anonymous cryptographer called “Tom Elvis Jedusor” – loosely named after the Harry Potter book…

US Lawmakers Seek Sanctions Against Iran’s Cryptocurrency Efforts

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A bill introduced this week in Congress takes a hard line on Iran’s efforts to develop its own cryptocurrency. U.S. regulators have warned in recent months that Iran’s government wants to use a sovereign cryptocurrency, similar to the petro in Venezuela, to evade economic sanctions. Portions of the Blocking Iran Illicit Finance Act, introduced by Rep. Mike Gallagher (R-Wisc.), call for a report on Iran’s efforts to create a sovereign cryptocurrency. A corresponding bill was submitted in the Senate by Sen. Ted Cruz (R-Texas). The proposals call for sanctions against those who…

Launch of Bakkt Bitcoin Futures Market May Get Postponed Again

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Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is likely to delay the launch of Bakkt, its bitcoin futures trading and custody platform, a second time, CoinDesk has learned. The company last set Jan. 24 as the launch date. However, ICE has yet to receive the necessary approvals from the U.S. Commodity Futures Trading Commission (CFTC), and at the pace the agency has been moving, it is unlikely that approvals will be secured in time to hit that target. To be clear: That does not mean the…