BLOCKCHAIN

Multicurrency Crypto Wallet Integrates Apple Pay, With Google Pay to Follow Within Weeks

[ad_1] A multicurrency digital wallet that enables consumers to store crypto and spend their funds at more than 40 million outlets worldwide has fully integrated Apple Pay.Spend says the latest version of its Spend Wallet app unlocks instant access to the popular iPhone feature, meaning that more than 20 supported cryptocurrencies can be instantly converted to fiat and used to complete a mobile transaction on demand.The platform says its priority has
BLOCKCHAIN

Four Banks Successfully Test New Blockchain Platform for Processing Promissory Note Loans

[ad_1] A group of four banks have successfully issued a promissory note — a type of legally binding loan agreement — through a new blockchain platform, a news release on May 21 announced.The financial institutions used finledger to complete the transaction. According to Helaba, one of the banks involved, the platform reduces the steps involved with issuing such a note by more than 50%.As well as eliminating the need for lenders to hold documents
BLOCKCHAIN

Upcoming Supply Cut Will See Bitcoin Prices Rise Further, Brian Kelly Predicts

[ad_1] An upcoming supply cut could help bitcoin (BTC) prices rise further in the coming months, crypto fund manager Brian Kelly told CNBC on May 21.Speaking to the Fast Money program, he explained that “the halvening,” next due to take place in 2020, will see mining rewards cut in half.With many miners now hoarding BTC, Kelly predicted that prices will rise as increased demand — tied to increasing industrial adoption and retail uses — competes with
BLOCKCHAIN

Creative Accounting or Much Ado About Nothing?

[ad_1] On May 16, 2019, Coin Metrics released a report detailing discrepancies in Ripple’s escrow reporting system. The Blockchain analysis firm described these discrepancies as contradictions that required some explanation.As per usual, any story concerning Ripple is going to come in for some polarizing viewpoints, with strong opinions on both sides of the matter. On the one hand, Ripple says the discrepancies aren’t so much a financial issue as they
BLOCKCHAIN

Israeli Court Rules Bitcoin Is Not a Currency in Court Case Over Taxes on BTC Gains

[ad_1] An Israeli judge has ruled that bitcoin (BTC) is an asset and not a currency, local news site Globes reported on May 21.The judgment is significant because it means profits made by selling the cryptocurrency will now be liable to capital gains tax, Globes notes.Noam Copel, who founded the blockchain startup DAV, had bought BTC in 2011 and sold two years later — making a profit of $2.9 million at today’s rates.During the court
BLOCKCHAIN

Blockchain Credit Union Consortium to Use R3’s Corda for Cross-Border Payments Product

[ad_1] CULedger, a blockchain consortium and credit union service organization (CUSO), has chosen enterprise software firm R3’s Corda blockchain to underpin its forthcoming cross-border payments product. The news was reported by fintech news outlet Finextra on May 21.As reported, CULedger joined the R3 global blockchain ecosystem in December 2018.The blockchain CUSO implements the technology to improve cybersecurity and mitigate fraud risks, as well as to streamline administrative and operational processes
BLOCKCHAIN

EOS Developer Block.One Attempts 10% Private Buyback of Its Stock

[ad_1] EOS developer Block.one is attempting a 10% buyback of its stock, offering backers a share repurchase price that will return as much as 6,567% on their initial investments. The news was reported by Bloomberg on May 22.According to Bloomberg, the buyback values the company at around $2.3 billion, up from about a $40 million valuation in the 2017 seed round. The repurchase price being offered is $1,500 per share
BLOCKCHAIN

Circle Sheds 10% of Workforce as CEO Blames Restrictive US Regulatory Climate

[ad_1] The CEO of Goldman Sachs-backed crypto finance startup Circle blamed a hostile regulatory climate in the United States as he confirmed layoffs of 30 staff on social media May 21.Following a blog post in which he described the difficulties operating in the U.S., Jeremy Allaire said that executives had taken the decision to release roughly one in ten of Circle’s employees.“Today we made organizational changes at Circle and eliminated
BLOCKCHAIN

New Zealand Blockchain Group to Request Government Blockchain Strategy

[ad_1] New Zealand-based blockchain industry group BlockchainNZ announced that it will request a national blockchain strategy from the government next Thursday, according to a press release on May 21.The executive director of Blockchain NZ, Mark Pascall, will give a presentation to the New Zealand parliament’s economic development, science and innovation select committee hearing on the potential economic advantages of implementing blockchain tech solutions in the country.The presentation will reportedly serve
BLOCKCHAIN

Chinese E-Commerce Giant JD.com Has Applied for Over 200 Blockchain Patents

[ad_1] Chinese e-commerce giant JD.com has applied for over 200 blockchain patents, according to a report by Securities Daily News on May 20.The report also notes that major e-commerce competitor Alibaba has applied for 262 blockchain patents, and Chinese internet titans Tencent and Baidu have applied for 80 and 50 such patents, respectively, as recorded by the Intellectual Property Center of China Information and Communication.According to interpretation of the data