IBM And NGO Global Citizen Announce Contest For Blockchain Charity Platform

American multinational technology giant IBM has partnered with Global Citizen, an NGO dedicated to alleviating poverty, to sponsor a contest for a charity donation blockchain platform, a blog announcement states May 11. According to the statement from IBM, one challenge that faces philanthropic organizations is ensuring that donated funds are utilized in an effective and efficient manner, which is true to the mission of the organization. The press release states: “If we are going to solve societal issues such as extreme poverty or infectious disease, we need to make sure…

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Adena Friedman Nasdaq CEO | Crypto’s Are The “Right Next Step”

Speaking on the latest episode of CNN podcast “Boss Files”, Adena Friedman, CEO of Nasdaq gave an indication of her optimistic position regarding the future perspectives for cryptocurrencies. The famous businessperson and female inspirational figure mentioned that according to her perceptions, the use of cryptos could represent an evolution or at least an important innovation in the way traditional finance is handled. “Do I think digital currency plays a role in the economy of the future? I think the answer is probably yes” In a segment of the interview devoted…

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Top Crypto News | May 7

The second week of May is over, and a lot went down. Especially in the crypto industry. There’s some stuff the crypto community will want to reflect on over the weekend; so, here is this week’s top crypto news.  Top Crypto News | May 7 – May 11  Monday The crypto markets started out on Monday as a sea of red. Dash (DASH), Ethereum (ETH), and Decred (DCR) were all down. So were Cardano (ADA), Tron (TRX), and Litecoin (LTC). Monday saw announcements like Circle adding Monero (XMR) to its investment…

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S. Korea’s Largest Crypto Exchange Upbit Investigated By Police, Markets React

Upbit, South Korea’s largest cryptocurrency exchange, is being investigated by local police and ten investigators for alleged fraud, local news outlet Chosun reports today, May 11. Upbit is a crypto-only exchange run by a subsidiary of Korean tech giant Kakao, and currently the fourth largest crypto exchange globally by 24-hour trade volume. Chosun reports that police believe the exchange has faked its balance sheets and deceived investors. South Korea’s Financial Supervisory Commission (FSC) reportedly sent ten investigators to the exchange’s head offices in Seoul at 10 am this morning, and…

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Who Will Bring Crypto Trading To The Fiat Masses First?

September 12, 2017 will go down in infamy when talking about the relationships between traditional fiat financial institutions and their views on cryptocurrency. It was the day that JP Morgan CEO, Jamie Dimon, called Bitcoin a ‘fraud’. A lot has happened in the financial and crypto space in the eight months following that event, especially in terms of banking institutions and Wall Street’s perception of Bitcoin and cryptocurrencies. As Bitcoin started making a few waves in traditional finance, Wall Street-types were polarized. Some scoffed at the idea of digital, decentralized…

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Nvidia Reports First Quarter Crypto Sales, Expects Two-Thirds Drop In Second Quarter

Nvidia (NASDAQ: NVDA), an American graphics processing units (GPUs) manufacturer, has recently reported that the company generated $289 mln from processor sales to the crypto market, Bloomberg reports May 10. This is reportedly the first time Nvidia shared information regarding its revenue from chip sales to the crypto mining market. According to Susquehanna analyst Christopher Rolland, Nvidia’s first-quarter sales from mining hardware were anticipated to be much lower, around $200 mln. Nvidia CEO Jensen Huang explained that they were able to exceed expectations due to increased demand for GPUs from…

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Bitcoin as a Payment System

Debates over the suitability of Bitcoin as a payment system continue. Last week, CFTC chairman J. Christoper Giancarlo stated he does not believe Bitcoin to be an “ideal” payment system. The chair has this mentality despite also saying Bitcoin has similarities to gold. This week, the Bank of America CTO joined the conversation. Bitcoin as a Payment System On Thursday, Catherine Bessant, Bank of America CTO, stated that Bitcoin as a payment system is very “troubling.” Not just Bitcoin, however, Bessant referred to the use of other cryptocurrencies as payment systems…

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Platform Creates Blockchain System That Offers ‘Valid Randomness’ in iGaming

A start-up company claims it can reduce public distrust in iGaming services through a blockchain system that generates “valid randomness” in games and makes them “provably fair.” Luckchemy, which is registered in Gibraltar, says its initial product is a daily lottery which uses a delegated Ethereum blockhash and a server seed to ensure the final result cannot be altered. Players can select five numbers from 1 to 47 and one number from 1 to 24, with a variety of prizes available depending on how many numbers are matched. Prize funds…

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Mining Will Propel Bitcoin Price To $36k In 2019, Says Latest Fundstrat Research

New research from Fundstrat Global Advisors places Bitcoin prices at $36,000 by the end of 2019, co-founder Tom Lee revealed Thursday, May 10. Analysis of the relationship between Bitcoin mining costs and price by Fundstrat’s Quantamental Strategist Sam Doctor has led the market research firm to predict the cryptocurrency’s range will fall between $20,000 and $64,000 by 2019 year end. The calculations focused on Bitcoin Price to Mining Breakeven Cost Metric, known as P/BE, which Doctor says has “proven a reliable long-term support level.” “We expect the mining economy to…

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China Will Issue Blockchain ‘Standards’ In 2019, Says Gov’t Official

China will seek to release nationwide blockchain standards by the end of 2019, a government official told local news media May 10. Speaking to Xinxua’s Economic Information Daily (EID), Li Ming, who is director of the Blockchain Research Office at the standards institute under the auspices of China’s IT Ministry, said a dedicated working group had already begun work on the project. The group, which brings together various government agencies, will be known as the Blockchain and Distributed Accounting Technology Standardization Committee. As EID reports, Beijing does not expect the…

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