JPEG on the Blockchain: Image Format Creator Believes Tech Can Fight Copyright Theft

The organization that created the popular JPEG picture format believes blockchain could be used to verify images, as well as flag fakes and image theft. The Joint Photographic Experts Group (JPEG) said blockchain has “great potential” as the basis of a system that would use a combination of encryption, hash signatures and watermarking in an image’s metadata to protect copyright, Digital Trends reported Thursday. The system could have advantages over existing verification models, JPEG said at a recent meeting in Sydney, Australia. Instead of signing up for a particular program,…

Binance Is Not Authorized to Operate in Malta, Financial Regulator Says

The Malta Financial Services Authority (MFSA) claims that it has never approved major cryptocurrency exchange Binance to operate in the country. On Feb. 21, the MFSA issued a public statement, stating that Binance “is not authorized by the MFSA to operate in the crypto currency sphere.” The agency outlined that recent media reports referred to Binance incorrectly as a “Malta-based cryptocurrency firm,” while the exchange “may not fall within the realm of regulatory oversight.” While major local publications like Malta Today have been referring to Binance as a Malta-regulated crypto…

Riot’s Stock Dips 5% as It Focuses on Bitcoin Mining Ahead of Halving

Riot Blockchain, a Nasdaq-listed crypto firm in the United States, plans to sell its exchange to focus on Bitcoin (BTC) mining ahead of the halving. According to an official announcement on Feb. 20, Riot has “opted to sunset further development of Riot’s U.S.-based digital currency exchange” in order to focus on cryptocurrency mining as part of its updated strategic priorities for 2020. Following the announcement to shift its focus on Bitcoin mining, the company’s shares dropped more than 5%, trading at $1.40 at press time, according to CNBC data. Industry…

Expert Says New Blockchain Regulation Should ‘Nudge’ Rather Than Push

Regulators should aim to influence public behavior rather than rule with an iron fist when it comes to emerging industries such as blockchain. Two Israel-based academics, Hada Jabotinsky and Nassim Cohen argued this point in a new paper and accompanying brief, published to the University of Oxford Law Department blog on Feb. 21. The paper proposes an approach that would result neither in an under-regulated free-for-all that leaves consumers vulnerable, nor in heavy-handed prohibitions that stifle technological progress. Complex new technologies such as blockchain, cryptocurrencies, Internet of Things, and automated…

Bitcoin Price Drop Mirrors Last Golden Cross Which Led to 170% Gains

Bitcoin (BTC) may not see a 170% increase after its fifth “golden cross” price event, historical data suggests as markets stay down 8%. Analysis of price movements since 2009 shows Bitcoin has had a total of ten “golden cross” and “death cross” moments in its lifespan.  BTC price dip challenges December 2017 A “golden cross” is when BTC/USD sees its 50-day moving average rise to cross over its 200-day moving average. A “death cross” is the opposite.  As Cointelegraph reported, hopes are currently high that the most recent golden cross…

Illegal Crypto-Bookmakers Pose Risk to Integrity of Hong Kong Horse Racing

The rise in unregulated cryptocurrency betting markets poses a threat to the integrity of horse racing, warned Hong Kong Jockey Club’s executive director of racing integrity and betting analysis, Tom Chignell, at the Asian Racing Conference in Cape Town. According to a report in the South China Morning Post, Feb. 21, the evolving landscape of cryptocurrency gambling platforms potentially opens the door to race-fixing. Unregulated betting markets require greater scrutiny Cryptocurrency has purportedly fuelled a vastly expanding gambling market, with some operators specializing in offering fixed-odds betting on horse races…

Global Regulators Haven’t Properly Addressed Stablecoins

Facebook’s plans to launch its cryptocurrency Libra this year has more than a few agencies in the European Union and the United States wondering what to do. While government bodies around the world are working to better understand crypto, regulations and laws pertaining to stablecoins aren’t being implemented quickly enough, according to a global finance watchdog. In a letter to finance ministers and central bank governors from the G-20 meeting in Riyadh this week, Financial Stability Board (FSB) Chair Randal Quarles voiced his concerns regarding how quickly digital currencies are…

Juventus Soccer Club Offers Digital Trading Cards Through Sorare

The Italian soccer team Juventus has a number of traditional collectibles available for purchase by its fans, but this week it’s taking them into the digital age. The sports club announced on Feb 19. it would be offering digital trading cards of its players through the blockchain-enabled platform Sorare. By using Ethereum technology, Sorare will provide digital cards that soccer fans can collect and trade. The cards function like non-fungible tokens and will feature star players like forward Cristiano Ronaldo.  Used in conjunction with the platform’s fantasy soccer game, the…

IOTA Urges Trinity Wallet Users to Use Seed Migration Tool

Responsible for one of the top performing cryptocurrencies, IOTA is continuing to release new information in response to a Feb.12 hack on its official wallet.  According to a Feb. 19 status update, the IOTA Foundation strongly recommends users of the Trinity Wallet to immediately change their passwords and use the seed migration tool to protect their assets. Trinity users who opened or updated their wallets between December 17th, 2019 and February 18th, 2020 may be vulnerable. Trinity users – If you opened #Trinity between Dec 17th 2019 – Feb 18th…

The Latest Cryptography Advances Set to Change Blockchain

Cryptocurrencies could not exist without cryptography. Advances in this field can have far-reaching impacts on blockchain technology and its potential. We will examine the opinions of industry experts on the latest cryptographic advances and their potential for cryptocurrencies. Zero knowledge proofs: more than just privacy Director of research at blockchain firm Blockstream and mathematician Andrew Poelstra told Cointelegraph that zero-knowledge proof (ZK-Proof) systems are “one of the most exciting areas of development” in the cryptography space. This kind of cryptography is known and appreciated for being the basis of privacy-preserving…