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Hugh Madden on the Real Threat From Facebook's Libra
Hot on the heels of a massive privacy scandal, Facebook announced Libra, and naturally, it sent regulators and media people in a tizzy. But were the potential privacy and money laundering issues they raved about the real threat? BC Group CEO Hugh Madden says no. Speaking to a packed crowd at Block O2O: The First Global Crypto – Libra, Madden
Commerzbank Tests Blockchain-Based Payments For Machine-To-Machine Transactions
Major German bank Commerzbank announced that it has developed a blockchain-based payment solution that specifically automates machine-to-machine (M2M) payment processes. This pilot project is in collaboration with Daimler Trucks, with this M2M payment part of the test for the direct handling of charging operations of electrically powered trucks. The automated payment pilot involves the transaction process between an electric truck
Asia’s Richest Man to Build India’s Largest Blockchain Network
Blockchain
Reliance Industries chairman, Mukesh Ambani, is looking to build one of the world’s largest blockchain networks over the next 12 months, according to Coin Geek. The network will be built by Reliance’s telecom subsidiary, Reliance Jio Infocomm, and will reportedly have “tens of thousands” of operational nodes on day one. Ambani, who shared his plan at a recently held annual
New Zealand Legalizes Salary Payments In Crypto
It was announced yesterday that New Zealand has become the first country ever to legalize salary payments in cryptocurrency. geralt / Pixabay This ruling was signed on June 27 by the Inland Revenue Department (IRD) agency’s Director of Public Rulings, Susan Price. It will be put into effect for three years from September 1, 2019. The ruling states that the
Canadian Pacific Railway Joins Blockchain In Transport Alliance
Blockchain
Canadian Pacific Railway (NYSE: CP) has joined the Blockchain in Transport Alliance (BiTA). In joining the Alliance, CP is supporting BiTA's mission of producing blockchain  standards that allow for interoperability between participants in the global supply chain. Blockchain is an open, extensible platform capable of sharing shipping events, messages and documents across all the actors and systems in the supply
North Korea’s Nuclear Program Partially Funded by ‘Large Scale Attacks Against Cryptocurrency Exchanges’
North Korean hackers have reportedly stolen up to $2 billion to help fund the country’s nuclear program, the SCMP writes citing a report to the United Nations Security Council. North Korea is using cyberspace “to launch increasingly sophisticated attacks to steal funds from financial institutions and cryptocurrency exchanges to generate income” in violation of sanctions. Cryptocurrency exchanges deal in virtual
Report: The People's Bank of China's Digital Currency Is Now 'Ready'
Barely a month after it accelerated its crypto plans, China’s central bank digital currency (CBDC) is now reportedly “ready.” The Token Post, citing the Shanghai Securities News, reported yesterday that the Middle Kingdom will be rolling out its CBDC “soon.” Mu Changchun, deputy chief of the People’s Bank of China’s payments and settlements unit, said that the CBDC prototype is
Hacker Extorts World’s Largest Bitcoin Exchange Over KYC Data
Binance, the world’s largest cryptocurrency exchange by trading volume, recently revealed that it has been targeted by an extortionist seeking “300 BTC in exchange for withholding 10,000 photos that bear similarity to Binance KYC data.” The Malta-headquartered exchange refused to cooperate with the hacker, and as such, a shedload of the photos have been released, including several hundred that he
Report: State-Backed Hackers Are Targeting Crypto Firms
Here’s something interesting. FireEye, a California-based cybersecurity company, says with “high confidence” that Chinese government hackers have been attacking crypto firms (PDF). The hackers, called APT41, have been active since 2012 and initially targeted video game companies for financial gain. FireEye, however, claims that the group has since expanded to state-sponsored activity alongside its own financially motivated operations. As with
Samsung Amps up Blockchain Dapp Arsenal With Over a Dozen New Apps
In an effort to stay ahead of the competition, Korean electronics giant Samsung has added over a dozen new apps to its blockchain dapp store, writes CoinDesk: Launched in March 2019, Samsung’s online dapp store, Blockchain Keystore, has grown from an initial four applications to a total of seventeen. The four original dapps included a password wallet, a game, a