The St. Louis Federal Reserve has published an essay critically evaluating the notion of cryptocurrencies that are issued by central banks. The article is highly dismissive in presenting what it describes as “the non-case for central bank cryptocurrencies,” concluding that “a central bank will not issue cryptocurrencies in the sense of a truly decentralized and permissionless asset that allows users to remain anonymous.” Also Read: Controversy Looms Over Bithumb Coins St. Louis Fed Argues That Cryptocurrency Comprises Unique Monetary Form In presenting their argument, the research paper’s authors, Aleksander Berentsen and…
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Revolut Raises $250 Million, Adds Bitcoin Cash (BCH) and XRP
The European alternative banking app designed for the globally mobile generation, Revolut, has just secured a major infusion of capital. With the new funding at hand the startup will be expanding to new markets around the world and add new features such as support for BCH and XRP to its crypto service. Also Read: Binance Exchange Founder Sued by VC Fund Sequoia Capital Europe’s New Unicorn London-based alternative digital banking startup Revolut has announced today it just raised a Series C investment round of $250 million meaning the company is…
Read MoreBBVA Issues First Ever Corporate Loan on the Distributed Ledger
Spain’s Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), a multinational Spanish banking group, has officially become the first global bank to issue a loan using Bitcoin’s underlying technology, the distributed ledger — hailing the event as a “significant advance in the exploitation” of the technology. BBVA is Banking on the Blockchain The loan in question is a €75m corporate loan. As reported by Financial Times, the entire loan process was processed using a mutually distributed ledger, including the negotiation of terms and the actual signing of the contract. Using similar technology that’s one of…
Read MoreGoldMint Opens Up Sale of Crypto Assets, Secured by Gold
GoldMint.io, a pioneering company which hedges a stable cryptocurrency with real gold, has opened up sales of GOLD coins. What is GoldMint? GoldMint is a blockchain-based platform powered by the digital asset GOLD, which is 100% backed by physical gold or delivery futures. Therefore, one digital GOLD asset costs the same as one ounce of gold on the Chicago Mercantile Exchange (CME). GoldMint’s physical gold is stored in the US Federal Reserve System’s banks, as well as in Singapore’s SGPMX custodians. For the sake of assurance, GoldMint fully intends on…
Read MoreGermany Gets Its First Crypto Exchange for Whales
Germany’s VPE Wertpapierhandelsbank AG (VPE) has announced its institutional investor cryptocurrency trading services and claims them to be the first of their kind for the country. Armed with a Bundesanstalt für Finanzdienstleistungsaufsicht (Bafin) license, in expanding its brokerage offerings VPE purports to offer “best-in-class technology” to customers, “secure and regulated.” Also read: Facebook to Be Sued for Defamation Related to Scammy Crypto Ads VPE Launches Germany’s First Institutional Investor Cryptocurrency Trading Services VPE Wertpapierhandelsbank AG spokesperson Katharina Strenski stressed, “Until now, institutional investors have faced high entry barriers to crypto…
Read MoreHow to Protect Yourself Against DNS Attacks When Using Cryptocurrency
DNS attacks can manifest themselves in many ways, all targeted against the Domain Name System that connects the internet. At best they’re an inconvenience, knocking websites offline or preventing access, and at worst they’re costly, as this week’s $150,000 Myetherwallet hijack demonstrated. When you’re interacting in the crypto space, here are a few ways to protect yourself against DNS attacks. Also read: Myetherwallet Servers Are Hijacked in DNS Attack How DNS Attacks Work In the aftermath of Tuesday’s DNS attack, which affected a string of major websites and proved particularly costly…
Read MoreUS State of Wisconsin on the Fence About Accepting Crypto Campaign Contributions
Even though some political candidates have already accepted crypto contributions in the past, the Wisconsin Ethics Commission is still not sure whether their state should follow suit. As digital currencies continue to gain traction in the real world, seemingly everyone wants to be a part of this virtual movement. Politicians are no different, realizing that crypto could provide them with that cash injection their campaign needs. One of crypto’s major advantages, which is anonymity, also seems to be its biggest drawback for the Wisconsin Ethics Commission. According to The Kansas City…
Read MoreNew Party in Ukraine to Fund Itself Only with Cryptos
A newly formed party in Ukraine has vowed to rely only on cryptocurrency contributions to sustain its activity and never to accept money from the oligarchs. Weakening state control over economy and expanding civil liberties are among its main political priorities. The party wants to protect the interests of people and companies from the IT sector, as well those of small and medium-sized Ukrainian businesses in other industries. Also read: Ukraine to Compensate a Citizen in Bitcoin – for “Moral Damages” Serious Ideas, Funny Faces Several prominent Ukrainian bloggers have…
Read MoreHow Easy Is It to Own Your Own Online Casino?
Have you ever played games at an online casino and wondered just how hard or easy it is to own an online casino? Most of us have at some point or other. After all, owning an online casino must be like owning a money printing machine. There are two schools of thought here – on the one hand, are those that believe that owning an online casino must be super easy. After all, from the surface, it looks like the online casino runs itself. The entire thing is run by a…
Read MoreControversy Looms Over Bithumb Coins
South Korean cryptocurrency exchange Bithumb is reportedly re-evaluating its strategy to launch its own coins through a corporation in Singapore, following news of fraud that could have serious side effects to both companies. Under the current laws, Bithumb coins will still be subject to Korean regulation whether launched abroad or not. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bithumb’s ICO One of South Korea’s largest cryptocurrency exchanges, Bithumb, had a plan to launch its own coins for institutional investors through a corporation in Singapore. On Tuesday, Bithumb confirmed that…
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