For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
As a part of this approval, Coinbase will be able to list the ICOs on their platform and thus trade digital tokens that are deemed as securities.
The platform is expected to minimize the time and paperwork required in trade finance and supply-chain finance transactions. 21 banks including HSBC and Standard Chartered have already confirmed participation in the project.
The crypto exchange had to bring in the Court of Appeals to re-open its deposit account closed by Banco Estado. The legal ruling raised the issue of violating the right for equality and that is not the first precedent of the kind in Chile.
A DApp developer and several ETH users claim EOS is to blame for an artificially boosted price of Ethereum transactions.
Global regulators have published a framework for “vigilantly” monitoring risks from crypto assets, even though they don’t pose a major risk to financial stability for now.
The Bank of Thailand aims to use blockchain technology to improve services like document authentication, cross-border payments and supply chain financing.
BlackRock announced its plans to form a working group to investigate the crypto industry and to assess potential benefits of involvement in Bitcoin.
The newly proposed blockchain system helps to provide concrete evidence of the transactions between merchants and customers in addition to the traditional receipts.
In the future, clients of SIX Digital Exchange will be able to enjoy fully end-to-end integrated digital asset trading, settlement and custody service.
Satis Group prepared a report, in which it has shown that around 81% of the total number of initial coin offerings launched since 2017 have turned out to be scams.
The company is currently working on the regulatory front to make sure that these five new cryptocurrencies fall under the ambit of the existing jurisdiction.
QuickX, a blockchain project backed by by an ex-politician from of Malta, is to improve the process of conducting transactions on a decentralized platform.
An anonymous investor bet Bitcoin will surpass Berkshire Hathaway’s stock by 2023, which means Bitcoin will have to appreciate by more than 40 times by that time. If the investor is right, he will win US $888 million.
The biggest self-regulatory cryptocurrency body is under scrutiny of Korean industry for its investigation principles affirming 12 out of 12 digital trades screened in a recent self-administrative drive.
Brave Browser, a project by the co-founder of Mozilla, which saw its BAT ICO sell out in seconds, announced they have surpassed 3 million monthly active users.