World Bank Raises Additional AUD $50M Via Blockchain Bond

Blockchain proves once again that it is a must-have technology for financial institutions at all levels. Last week, the World Bank raised an additional AUD 50 million ($33.8 million) through its blockchain-based Kangaroo bond, called bond-i. Bond-i Sale Co-Managed by CBA, RBC, and TD The bond tap, i.e. the reopening of the bond initially issued in August 2018, was fully handled on the distributed ledger technology (DLT). Thus, the World Bank’s debt instrument became the first bond issued, allocated, sold, and managed on blockchain. The bond was sold via the…

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Market Update: Prices Drop as Crypto Sentiment Enters the Fear Zone

Cryptocurrency markets fell hard on August 21 following the $700 price drop bitcoin core (BTC) saw during the early morning trading sessions. Most digital assets have lost 2-8% in value as the overall market valuation of all 2,000+ coins has plunged to $263 billion. Crypto price movements have been following a trend of strong volatility, having been turbulent for several weeks. Also read: The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt The Top Digital Currency Markets See Percentage Losses BTC and a slew of other…

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Anthony Pompliano Says it Only Took Bitcoin 10 Years to Get to the G7

The G7 is meeting next week to explore the regulations around Bitcoin and other cryptocurrencies. Unsurprisingly, Anthony Pompliano is not worried. G7 to Discuss Bitcoin Next week, the G7 is scheduled and this time the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States will set aside some time to discuss Bitcoin and digital currencies at length.  Previously, the group had discussed the need for oversight and regulation within the nascent sector, but the final result amounted to each country developing their own regulatory frameworks…

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Big Upcoming Dates For Bitcoin’s Diary That You Need to Know

Bitcoin has several big dates in the next couple of months which should be of interest to anyone with a stake in the network. Depending on how these pan out, we could well see renewed confidence and uptake, as well as another bull run. So what are we waiting for? 23 September – Bakkt Bitcoin Futures Launch We learnt last week that after a regulatory quest which seemed to go on forever, Bakkt will finally launch its physically delivered Bitcoin futures product on 23rd September. Back in May, the company…

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The World Bank’s Blockchain Bond Is Just a Fancy Way of Selling Debt

Last year the World Bank and the Commonwealth Bank of Australia announced a permissioned Ethereum-based blockchain to facilitate the end-to-end issuance of bonds between financial partners. The Bretton Woods-created financial institution hopes to make debt capital markets far more efficient with a bank-to-bank blockchain network. At the same time, the World Bank’s bond scheme has been scrutinized for corporate and political collusion with global leaders and Fortune 500 multinational corporations. Also read: Central Banks Worldwide Testing Their Own Digital Currencies The World Bank’s Plans to Sell Debt via Blockchain The…

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Petition for Clemency for Silk Road Founder Ross Ulbricht Nears 200k Signatures

Silk Road founder Ross Ulbricht has spent six years in prison and has 34 years and two life sentences to go unless a petition spearheaded by his mother and sister lead to a grant of clemency. 195K Signatures and Counting For Ulbricht A petition seeking clemency for Silk Road founder Ross Ulbricht is quickly approaching 200,000 signatures. Ulbricht is currently serving a 40-year sentence on top of a double life sentence for his role as the leader of the defunct black market website. Ulbricht is only six years into his…

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POTUS Candidate Yang Wants Blockchain Voting Despite Security Flaws

Blockchain voting is an essential upgrade to US elections, 2020 presidential candidate Andrew Yang has said. Yang: Standing In Line To Vote ‘Ridiculous’ Currently causing a buzz on social media, Yang’s proposal would see traditional in-person voting replaced by a Blockchain alternative. It forms the latest in a series of policy stances for the Democrat, who has to date raised $3.5 million for his bid to enter the White House.  In addition to Blockchain, Yang has championed cryptocurrency itself, promising to create transparent national legal frameworks to address the patchwork…

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Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date Set

After hearing the arguments against the banking restriction by the Reserve Bank of India (RBI) in detail, the Indian supreme court directed the central bank to reply to the representations filed by crypto exchanges. Since the RBI has not adequately answered them, the court set a new date to resume hearing the case. Also read: Central Banks Worldwide Testing Their Own Digital Currencies The Crypto Hearing Resumes The Supreme Court of India resumed hearing the case against the crypto banking ban by the central bank Wednesday after spending all day…

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Facebook Faces Fresh EU Scrutiny As WhatsApp Edges Closer To Mobile Payments

The European Union is actively probing Facebook’s Libra digital currency project for competition law violations, mainstream media report. Facebook’s Libra Has ‘Potential Anti-Competitive Behavior’ According to Bloomberg, which cited official correspondence August 20, the European Commission is quizzing Libra participants via a dedicated questionnaire. The document originally appeared earlier this month, and forms Libra’s latest scrutiny by international regulators. The focus of the enquiries is “investigating potential anti-competitive behavior,” Bloomberg quoted officials are stating. In particular, it is Facebook’s spin-off in charge of administering Libra, the Libra Association, which now…

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Cryptopia Liquidation: Hacked Bitcoin Exchange Didn’t Use Individual Customer Wallets

Grant Thornton, the liquidators of hacked New Zealand Bitcoin exchange Cryptopia, have released an update on the progress made thus far. Cryptopia Used Co-mingled Crypto Wallets According to a statement released on its website on Wednesday (August 21, 2019), Cryptopia didn’t use individual crypto wallets. Instead, the Bitcoin exchange platform pooled customer funds into co-mingled coin wallets. Thus, the liquidators are facing a difficult time determining the amounts held by customers. Furthermore, Grant Thornton says it has to manually reconcile pooled wallet data with customer data information. An excerpt from…

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