High Ethereum Fees Push Tether to Its Eighth Blockchain, OMG Network

Tether has adopted Ethereum scaling solution OMG Network amid record demand for settlement space on the “world computer.” “The integration [between Tether and OMG Network] will result in a reduction of confirmation times delivering faster payments while fees will be reduced without compromising on-chain security,” Tether Inc. said in a blog Wednesday. OMG Network can handle thousands of transactions at a third of the cost of Ethereum as a Layer 2 solution for Ethereum that batches transactions before settlement, OMG Network CEO Vansa Chatikavanij said in a statement. Tether –…

Crypto VC Firm Assesses the ‘State of Blockchain Governance’

Everyone in crypto has been talking about decentralized finance (DeFi) since bankless lending started to boom in June. But, looked at another way, it’s really a governance boom. Into this environment has stepped Greenfield One, an early-stage venture capital firm that just published a comprehensive new resource on the topic of blockchain governance. Take, for example, COMP. DeFi has been hot ever since Compound started distributing its COMP governance token on June 15. COMP didn’t introduce new features to the product, it just gave users a means to voice how…

Figure Technologies Securitizes $150M of Home Equity Loans on Blockchain

Figure Technologies has completed a long-awaited $150 million securitization of a bundle of home equity lines of credit (HELOCs), billed as the first such transaction in which all aspects of the process were managed on a blockchain. In other words, everything from the origination of the loans to the issuance of the bonds to the collection of borrowers’ monthly payments is run on Provenance, Figure’s blockchain, according to the company. This distinguishes the transaction from most enterprise blockchain projects, which have either been demonstrations of the technology rather than live…

China Has Many Strategic Reasons To Invest in Blockchain

Byrne Hobart, a CoinDesk columnist, is an investor, consultant and writer in New York. His newsletter, The Diff (diff.substack.com) covers inflection points in finance and technology.  In October, China’s President Xi Jinping said China should “seize the opportunity” to use the blockchain. To cryptocurrency advocates, this is exciting – and confusing. Why would a deeply centralized country want to use an intrinsically decentralized technology? Why would a country that exercises tight control over its currency want to try a new, un-tested currency system? The paradoxical answer is that Xi Jinping…

Riot Blockchain Plans Sale of Crypto Exchange as It Invests More Millions in Bitcoin Mining

Nasdaq-listed Riot Blockchain plans to sell its cryptocurrency exchange RiotX while doubling down on its bitcoin mining businesses.  In an announcement on Thursday, the company said it is considering opportunities to divest itself of the limited assets associated with the exchange, launched in early 2018, due to the regulatory environment, security risks and competition from peers.  “In order to concentrate its focus on cryptocurrency mining, Riot has opted to sunset further development of Riot’s U.S.-based digital currency exchange,” the company said in a statement.  Riot has hired Chicago-based investment bank…

ChainUP Launches EXUP, An Independent Brand of Blockchain Financial Derivatives

ChainUP has launched EXUP a new financial derivatives technology platform for digital assets to empower the blockchain financial ecosystem. 14th February, 2020, Singapore – On February 11, ChainUP, a leading global blockchain technology service provider, officially launched EXUP, an independent brand of blockchain financial derivatives, creating a new financial derivatives technology platform for digital assets. EXUP is committed to providing customers with secure, stable and efficient blockchain financial derivatives services. Its highly stable and reliable matching engine has been created to [em]power the financial ecosystem on blockchain, through a distributed…

Catalonia Is Moving to Achieve Digital Independence Using Blockchain

The burgeoning autonomous community of Catalonia has been struggling for political freedom from Spain for years. Now, according to Jordi Puigneró, Minister of Digital Policies and Public Administration, the group is also angling for digital independence. “Just as the Internet brought us universal connectivity, blockchain will bring us new universal governance. It will affect the administration [of government], will affect the economy, and it will affect one thing which is very important in our society: trust,” he said. “Trust is what moves economic transactions and it’s what moves the relationship…

Southern Indian State to Launch Dedicated Blockchain Incubator

The Indian state of Telangana is to launch a dedicated blockchain incubator. According to a report in the Times of India on Monday, Rama Devi, a senior official in the IT&C Department of the state government, said the new incubator would soon team with top educational institutions, such as IIIT-Hyderabad and the Indian School of Business in order to support new startups in the working blockchain space. “We have developed 12 use-cases wherein Blockchain technology can be used to solve some of the issues faced by citizens… in the coming…

‘One Network, Many Chains’ – The Case for Blockchain Interoperability

The man who wrote Mastering Bitcoin, Andreas Antonopoulos, is anything but a bitcoin maximalist. At the Blockstack Summit in San Francisco in October, he spoke about a subject that’s already proving to be one of the most-watched topics going into 2020: inter-blockchain communication (IBC). “I find it astounding after all this time that people still try to follow this idea of ‘winner takes all.’ One coin to rule them all. One chain above all else. We’re coming for ya. The flippening,” Antonopoulos said.  The “flippening” is the conviction that ethereum’s…

This Virginia Lawmaker Argues Blockchain Can Boost Local Elections, Economy

A Virginia lawmaker is pushing her state’s government to study how blockchain could shape the future of local elections and commerce.  On Jan. 8, Delegate Hala Ayala (D-51) offered two bills to the House of Delegates: the first calling for Virginia’s Department of Elections to investigate blockchain as a means to secure elections, and the second requesting that the Virginia Economic Development Partnership (VEDP) research blockchain’s current and coming role in the state economy.  Together, they comprise Ayala’s political drive to embrace – or at least consider – integrating distributed…