South African Central Bank Ethereum Blockchain Tests Successful

South African Central Bank Ethereum Blockchain Tests Successful

The South African Reserve Bank (SARB) has just completed a multi-bank testing of bank-to-bank transfers using blockchain. South Africa’s central bank has been testing the Ethereum based platform Quorum in collaboration with eight banks including SARB, Absa, Capitec, Discovery, Investec, FirstRand, Nedbank, and Standard Bank. The program, called Project Khoka spread over 14 weeks, conducted […]

CEO of BitMEX Says Bitcoin Will Hit USD 50,000 By End of 2018

CEO of BitMEX Says Bitcoin Will Hit USD 50,000 By End of 2018

The Co-Founder and CEO of BitMEX, Arthur Hayes, says Bitcoin will hit USD 50,000 by the end of the year after possibly bottoming out in the USD 3,000 to USD 5,000 range. He says Bitcoin is just one positive regulatory decision away from a massive rally. That piece of positive news might be a Bitcoin […]

Biggest LSD Raid in European Union History Seizes EUR 4.5 Million in Cryptocurrency

Biggest LSD Raid in European Union History Seizes EUR 4.5 Million in Cryptocurrency

The Austrian Federal Police and the Spanish Guardia Civil, under the guidance of the European Union Agency for Law Enforcement Cooperation (Europol), have conducted the biggest lysergic acid diethylamide (LSD) raid in European Union history. The criminal organizations responsible were operating on the darknet and laundering their profits with cryptocurrency, resulting in EUR 4.5 million […]

Former Oxford Grad becomes UK’s First Bitcoin Billionaire at $3.6 Billion

Former Oxford Grad becomes UK's First Bitcoin Billionaire at $3.6 Billion

An Oxford graduate living in Hong Kong has been identified as Britain’s youngest Bitcoin billionaire at the age of only 34, according to the Mail Online. Ex-student Ben Delo founded crypto company BitMex, a trading platform created by a selection of finance, trading, and web-development experts, in 2014 and has subsequently amassed a fortune of […]

Tens of Thousands of Bitcoin Mining Rigs Destroyed In Sichuan Floods

Tens of Thousands of Bitcoin Mining Rigs Destroyed In Sichuan Floods

Chinese media platform Global Finance is reporting that tens of thousands of Bitcoin mining rigs have been drowned in floods in Sichuan, China. Apparently, 70% of Bitcoin mining rigs are in China, and 70% of Chinese Bitcoin mining rigs are in Sichuan. This is due to an abundance of cheap hydro-electric power in the region. […]

More Millennials Shunning Traditional Investment Options in Favor of Bitcoin

More Millennials Shunning Traditional Investment Options in Favor of Bitcoin

The UK real estate developer Get Living recently conducted a survey to determine people’s attitudes towards property investment across cities in the region. The survey revealed that 27% of male millennials considered Bitcoin to be a better long-term investment than buying a property, assuming that they were even able to get on to the housing […]

Australian Banker’s Misinformed Bitcoin Claims Corrected by Experts

Australian Banker's Misinformed Bitcoin Claims Corrected by Experts

Australian Banker Tony Richard has been criticized by experts over his misinformed claims regarding cryptocurrency spouted during his speech at the Australian Business Economists in Sydney, on June 26th. Richard is currently employed as head of the payments policy department at the Reserve Bank of Australia [RBA]. Richard’s critique After first diving into an explanation of the basics of Bitcoin, […]

Austrian Financial Authority Calls for Crypto to Be Treated Like Securities

Austrian Financial Authority Calls for Crypto to Be Treated Like Securities

Board directors of the Austrian Financial Market Authority (FMA) are proposing tighter cryptocurrency regulations, reports a Dutch news outlet. The proposals are driven by Klaus Kumpfmüller and Helmut Ettl who are asking for a threshold dependent requirement of 2 million euros for ICO’s. Distributors of cryptocurrencies will come under the current legislation for securities. Austria […]

Blockchain Technology Will Accelerate Space Exploration

Blockchain Technology Will Accelerate Space Exploration

Blockchain technology will accelerate space exploration by making the supply chains which produce the components for space missions more efficient. The National Aeronautics and Space Administration (NASA) is embracing blockchain technology, which will eventually result in the shortening and strengthening of space exploration supply chains. Space exploration is extremely expensive, with NASA alone spending approximately […]

Bitcoin’s Price Not a Good Indicator of Value or Health

Bitcoin's Price Not a Good Indicator of Value or Health

There is an obsession about Bitcoin’s price in the mainstream media, from reports about every single Bitcoin price fluctuation to predictions that Bitcoin’s price will go up by the tens of thousands of dollars or crash to zero in the future. The common theme among these stories is that Bitcoin’s price is an important indicator […]