Ethereum Scalability Solution is Coming ‘Soon,’ says Vitalik Buterin

Ethereum (ETH) has a plan to fix its well-known scaling issue, and co-founder Vitalik Buterin says the solutions will start rolling out soon. In an interview with BLOCKTV this week, he said that scaling, a major Ethereum problem that’s been pointed out many times, is something the team will be dealing with in the short term. There’s already a lot of progress accomplished in this area, “the spec there is almost done,” and “it’s mostly an implementation challenge now,” he claims. What Ethereum team seems particularly excited about is another scaling research that Buterin…

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Bank-backed blockchain keeps trade finance flowing in virus choked supply chain, HSBC says

A blockchain trade finance platform developed by eight banks, including HSBC and Standard Chartered, is ready for commercial launch during the second half of this year after completing over US$30 million worth of letter-of-credit transactions last year during its trial period. Letters of credit using blockchain have helped companies continue with their commercial trades even during the new coronavirus epidemic, said Ajay Sharma, HSBC’s regional head of global trade and receivables finance for Asia-Pacific. “Leveraging blockchain for trade finance has overcome the physical constraints we are having today,” said Sharma.…

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China Creates its First Blockchain Undergraduate Degree

China’s Ministry of Education has approved the country’s first Blockchain Engineering undergraduate degree, at Chengdu Information Engineering University. Students will get to grips with the fundamentals of blockchain, in addition to the practical applications of the technology and more. Applications open this year According to a March 3 report by local news, the second-largest state-owned news agency in China, Chengdu Information Engineering University will offer majors in Blockchain Engineering alongside other tech-based degrees in 2020. The new course appears to have been created to cater to growing demand in the blockchain sector, as an…

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Actor Steven Seagal Charged With Unlawfully Touting Digital Asset Offering

FOR IMMEDIATE RELEASE2020-42 Washington D.C., Feb. 27, 2020 — The Securities and Exchange Commission today announced settled charges against actor Steven Seagal for failing to disclose payments he received for promoting an investment in an initial coin offering (ICO) conducted by Bitcoiin2Gen (B2G). The SEC’s order finds that Seagal failed to disclose he was promised $250,000 in cash and $750,000 worth of B2G tokens in exchange for his promotions, which included posts on his public social media accounts encouraging the public not to “miss out” on Bitcoiin2Gen’s ICO and a press release titled…

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Bitcoin Finds Support at Key Level After Massive Long Liquidations

After a sharp market sell-off caused a flurry of long liquidations over the past 24 hours, both bitcoin (BTC) and several other major cryptoassets found support Thursday morning as the number one cryptocurrency bounced off a key level in the chart. As of press time on Thursday (08:00 UTC), bitcoin is trading at USD 8,840, down 3.75% over the past 24 hours. Meanwhile, ethereum (ETH) and XRP are down by 3.44% and 1.8%, respectively. As a result of bitcoin falling more than many altcoins, the most recent sell-off partly reversed yesterday’sincrease in bitcoin’s dominance of the total…

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Bitmain Announces Specs for Next-gen Antminer S19 and S19 Pro Coming Soon

SINGAPORE, Feb. 27, 2020 /CNW/ — Bitmain is officially announcing the new Antminer S19 and S19 Pro, two new Antminers offering incredible performance. The next-generation Antminer S19 and S19 Pro come in two variants. The Antminer S19 is equipped with a hash rate of 95 TH/s, while its other variant has a hash rate of 90 TH/s, both variations have a power efficiency of 34.5+/-%5 J/TH. As for the Pro version, hash rates and power efficiency are further improved. The Antminer S19 Pro features a hash rate of 110 TH/s, while its…

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Hong Kong’s Financial Watchdog Launches Crypto Exchange Crackdown

Hong Kong will strengthen its policies around crypto money laundering (AML) and terrorist financing in response to Financial Action Task Force recommendations, said Paul Chan Mo-po, the financial secretary of Hong Kong. According to the Hong Kong Economic Times, the Financial Action Task Force (FATF), a watchdog under the G7, evaluated Hong Kong’s current AML regulatory framework. It recommended that Hong Kong tighten policies concerning crypto and companies dealing with the asset class, to comply more closely with its standards. The changes to Hong Kong’s AML and terrorist financing prevention framework were proposed…

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Shopify Joins Facebook-led Libra Association To Help Build Stablecoin Payment Network

E-commerce platform Shopify has announced that it has joined the Libra Association. This means that the online shopping firm is the latest entrant of the Facebook-led stablecoin project. The entry of Shopify into the association comes barely a month following Vodafone’s pull out with the aim of developing its solo virtual payments platform. This marks the first time the organization is admitting a new member since it was created. In a blog post, Shopify stated that it aims at working with other members to develop a payment system which can work…

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Survey Unveils Profile of Bitcoin (BTC) and Ethereum (ETH) Holders in Malaysia, Vietnam and the Philippines

The Organization for Economic Cooperation and Development (OECD) has released a 62-page report on the behaviors, attitudes, and experiences of crypto holders in Southeast Asia. The survey shows a number of findings regarding the profiles of people in Malaysia, Vietnam and the Philippines who own cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). Based on a sample of 3,006 online participants, the research reveals that 34% of Millennials, 25 to 34 years old, own cryptocurrencies. The age group represents the highest ownership of crypto assets in the three Asian countries. In addition,…

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Former CFTC Chair: Time for Fed to create digital dollar

A former regulator is trying to connect private players with the government to spur development of a central bank-issued digital currency. Former Commodities and Futures Trading Commission Chairman J. Christopher Giancarlo told Yahoo Finance’s “On The Move” on Thursday that the Federal Reserve needs to issue a digital currency to catch up with the likes of the Chinese government.  A central bank digital currency could take on many forms, but in principle physical currency would be replaced by blockchain-linked digital units held in a mobile wallet. Merchants would have to…

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