A Russian computer programmer involved in the collapse of a big cryptocurrency exchange says he was tricked into handing over its entire assets to fraudsters posing as FSB agents, according to documents obtained by BBC Russian. Cryptocurrency – Alexei Bilyuchenko was a key player in Wex, which stopped trading in 2018, leaving customers unable to…
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Bitcoin and cryptocurrency have this year successfully provoked central bankers and governments to take digital currencies seriously—though many remain skeptical. The bitcoin price, which has failed to return to its all-time highs set in late 2017 despite a late December rally, was given a substantial boost in the first half of this year by social…
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CHINA’S MINING DOMINANCE Crypto – A new report has found that nearly 65% of the bitcoin hashrate originates from China, meaning that China has dominated bitcoin mining more than any other country this year. 2019 has been a relatively good year for miners in general, generating $5.4 billion in total revenue, and China has consistently…
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Everything from high costs to security vulnerability can be mitigated. Crypto mining is the process of releasing cryptocurrencies into a network by completing a given set of mathematical computations. And just like any other mining industry — gold, data, etc.– it comes with a unique set of challenges. For the uninitiated, cryptocurrencies are underpinned by…
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Cash may be king, but digital money fans aim to overthrow it. Stablecoin, a type of cryptocurrency linked to real assets, is gaining powerful backers in technology and finance who hope to seize a crucial role in global trade and the economic world order. Unlike Bitcoin, Ethereum and many other digital currencies, stablecoins have backing…
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A single mysterious player on the cryptocurrency exchange Bitfinex appears to have massively manipulated the price of Bitcoin in 2017, a new academic paper claims. The peer-reviewed study is an updated version of a 2018 paper investigating if a stablecoin called Tether influenced the values of the cryptocurrency Bitcoin during its unprecedented boom back in…
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Facebook’s Libra project led Beijing to accelerate its efforts. The government could soon know a lot more about how people are spending. BEIJING — When Facebook announced plans this year for a cryptocurrency called Libra, it said its goal was to reinvent money for the internet age. What the company probably didn’t imagine was that…
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Blockchain technology is changing the nature of money and organizations. We should probably start pondering the potential consequences. At first glance, the word “ethics” may seem out of place next to “blockchain.” After all, the world of cryptocurrency may be most famous for its many frauds and scams. But according to a small contingent of…
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Blockchain – The recent rise and fall of Bitcoin (slight uptick recently), should give you pause for thought and help you understand where the real potential might be. While the future potential of secure digital payments through crypto currency remains to be seen, the focus should be on building blockchain based platforms and marketplaces. The…
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PAYPAL DOESN’T WANT TO MISS OUT ON BLOCKCHAIN AND CRYPTO REVOLUTION According to John Rainey, PayPal’s chief financial officer, cryptocurrencies and blockchain technology could be disruptive and the financial services firm doesn’t want to miss out: We have teams clearly working on blockchain and cryptocurrency as well, and we want to take part in that…
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