Armenian IT Company Accused of Illegal Electricity Use to Mine Crypto

An IT company in Armenia has been accused of illegally accessing electricity and using it to mine cryptocurrencies. $150,000 in power On Sept. 21, in an announcement from the Armenian National Security Service, the organization accused an IT company of illegally mining cryptocurrencies from inside a hydropower plant. The state agency reported that the IT company had installed cryptocurrency mining equipment inside one of the hydropower plants operating in Armenia and as a result illegally consumed 1.5 kilowatt-hours of electricity — worth more than $150,000, locally — over the course…

Swiss University Fights Fake Diplomas With Blockchain Technology

The University of St. Gallen in Switzerland is setting its sights on blockchain technology to fight fake diplomas, a type of fraud that has been on the rise globally in recent years. Degree certification According to a CNN Money Switzerland interview from Sept. 19, the University of St. Gallen has announced that it is introducing a blockchain-based pilot project to verify the authenticity of its degrees in a matter of seconds rather than several days. The university’s CIO Harald Rotter said: “I saw that it could be necessary and it…

Two Firms to Build Blockchain-Based Solution for European Shipping

Vakt, a blockchain-based post-trade platform for commodities, has signed a memorandum of understanding with essDOCS, a firm that develops paperless trade solutions, to put European shipping on the blockchain. As markets and technology-focused outlet Benzinga reported on Sept. 20, Vakt and essDOCS will work on a blockchain-based solution that will allow digitization of post-trade process in Europe’s barge shipping. Digitization of barge shipping data While the parties plan to launch the product in northwest Europe initially, they are hoping to expand further to global markets. A joint statement stated: “Trading…

Real-Time Strategy Game for Mining ‘Crypto Gold’ Launches on WAX

The online real-time economic strategy game, Prospectors, will be launching on the Worldwide Asset eXchange (WAX). Prospectors blockchain game lands on WAX In a Sept. 17 blog post, WAX announced that one of the largest dApps in the world, The Prospectors, is launching on the WAX blockchain, which users buy physical and virtual items using WAX tokens. This blockchain-based decentralized strategy game set during the 19th-century gold rush launched on EOS in late June 2019. Notably, the game’s designers plan for it to become fully autonomous over time.  Arielle Brechisci,…

Justin Sun Reveals New Plan for TRON’s Proof-of-Stake Mechanism

Blockchain platform Tron’s founder, Justin Sun, has announced a new plan for TRON’s (TRX) proof-of-stake mechanism. In a series of tweets on Sept. 21, Sun highlighted four key developments in the new plan for TRON’s proof-of-stake mechanism. Specifically, the developments will focus on the means of distributing staking revenues and greater engagement of the community. Community engagement  Sun revealed that the company will consider “a fair, decentralized distribution of staking revenues” to increase user participation and engagement with staking from industry players such as exchanges, wallets and partners. To encourage…

Bitcoin’s Dominance Drops as BTC Price Briefly Dips Below $10K

Saturday, Sept. 21 — crypto markets continued to trade sideways, with the majority of the top 20 coins by market cap seeing losses at publishing time. Market visualization. Source: Coin360 Bitcoin dominance continues to slip After briefly dipping below the $10,000 threshold, Bitcoin (BTC) has bounced back to trade at $10,041 at press time. The major cryptocurrency is down 1.1% over the past 24 hours, also seeing a nearly 3% loss over the past seven days. Bitcoin’s dominance on the market has continued to drop, down from 67.7% at the…

Real Estate, Blockchain and the Quantity Theory of Money

The concept of illiquidity discounts, how it relates to markets like commercial real estate, and the benefits that tokenization could bring to the industry are topics that I have already discussed in previous articles. In this article, I am taking a closer look at the relationship between liquidity preference and the future demand for tokenized real estate investments. Related: Tokenizing Commercial Real Estate and the Promise of Liquidity Illiquidity discounts reflect the reduction in price that gets applied to an asset due to a shallow market and are particularly pronounced…

Global Blockchain Tech Market to Surpass $16B by 2024

The global blockchain technology market is estimated to surpass $16 billion by 2024, according to a recent report from market research firm Global Market Insights, Inc. The report In a Sept. 20 press release, Global Market Insights provided highlights from its 180-page-long report entitled “Blockchain Technology Market By Providers (Infrastructure Provider, Application Provider, Operators), Application (Smart Contract, Payment & Wallet, Digital Identity, Exchange, Compliance & Risk Management), End-Use (BFSI, Government, Healthcare, IT Service, Media & Entertainment, Transportation & Logistics), Regional Outlook, Competitive Market Share & Forecast 2024.” Per the analysis,…

NASA Looks to Hire Data Scientist With Crypto and DLT Background

NASA is looking to hire a data scientist with crypto and blockchain expertise. Crypto and blockchain considered a plus According to a LinkedIn job listing posted on Sept. 20, NASA has a vacancy at its Jet Propulsion Laboratory in California, whose primary function is the construction and operation of planetary robotic spacecraft and conducting Earth-orbit missions. Among the high number of required qualifications, NASA listed knowledge in one or more related fields including big data, machine learning, Internet of Things, analytics, statistics and cloud computing. In a separate line, the agency…

Portugal Could Be a Tax Haven — Not Only for Crypto Traders

The Portugal Tax Authority (PTA) announced last month that cryptocurrency trading and payments in crypto would not be subject to value-added tax (VAT). According to the announcement, cryptocurrency payments that are subject to the provision of services under Article 9 (27) (d) of Portuguese tax law are exempt from VAT. This applies only to individuals, as Portugal-based businesses are still subject to several taxes such as VAT, social security and income taxes. This announcement follows another Portuguese tax benefit for cryptocurrency traders: Ruling 5717/2015, which declares that proceeds from the sale…