Bitcoin & Cryptocurrency

Buffet Dismisses Bitcoin, Calls Buyer “Rat Poison Squared”

Buffet Dismisses Bitcoin, Calls Buyer “Rat Poison Squared”

Last Monday, billionaire Warren Buffett release a number of negative remarks about Bitcoin and cryptocurrency which he likened to to the tulip mania in 17th century Holland. The Berkshire Hathaway CEO called Bitcoin buyers “rat poison squared” and said that the rising prices were driven merely by its mystique. He added that people are excited by it because they do not understand it and instead urged investors to look into US stocks. Meanwhile, Berkshire vice chairman Charlie Munger called Bitcoin “worthless artificial gold.” and likened it to Oscar Wilde’s definition of fox hunting, calling it “the pursuit of the uneatable […]

Indonesia Considers Blockchain for Data Challenges

Indonesia Considers Blockchain for Data Challenges

Founder of Indonesian tech firm Online Pajak, Charles Guinot, mentioned this week in an interview that his company has launched a blockchain-driven app that customers can use to share encrypted tax data with financial institutions such as banks and treasury offices. Guinot said that not only can blockchain technology reduce paperwork and increase transparency, it can also provide taxpayers proof of their payments, which is currently not available in the country. Co-founder of Horizon State Nimo Naamani added that they are also about to launch a blockchain-based phone app that can facilitate direct polling on various local policy issues.    […]

Philippines Allows Blockchain, Crypto Companies to Set Up in Special Economic Zone

Philippines Allows Blockchain, Crypto Companies to Set Up in Special Economic Zone

Cagayan Economic Zone Authority (CEZA) chief Raul Lambino confirmed earlier this week that the Philippine government will be allowing 10 blockchain and cryptocurrency businesses to operate in the area. Lambino further revealed that these companies, mostly run by Japanese, Koreans, Malaysians and Hong Kong nationals, can go into exchanges, ICOs or cryptocurrency mining legally within the new fintech hub established by the state-owned corporation. However, Lambino stressed that crypto-to-fiat and vice versa exchange transactions should only be done offshore to avoid violating Philippine laws. Source: Coin Telegraph

Iran Bans Cryptocurrency Dealings

Iran Bans Cryptocurrency Dealings

State news agency IRNA reported last Sunday that Iran has instructed all its banks to prohibit all transactions involving cryptocurrencies. According to an Iran central bank circular, banks, credit institutions and currency exchanges should not involve themselves in the sale or purchase of such currencies. The move is said to be part of efforts to prevent a currency crisis as the rial plunged to an all time low due to the threat of crippling sanctions. The country has already unified its official and open market exchange rates and banned money changing outside of banks this month.   Source: Reuters

Dow Jones Media, Brave, to Test Consent-Based Ads

Dow Jones Media, Brave, to Test Consent-Based Ads

According to a press release last Wednesday, The Dow Jones Media Group has formed a partnership with privacy-focused browser Brave to test blockchain technology for digital advertising. Brave says that it will be providing access to either Barrons.com or the MarketWatch newsletters to a limited number of users, as the two will become verified publishers on the browser’s BAT platform. Users can earn BAT tokens by engaging ads from verified publishers which they can use to pay for premium content. Brave browser author Brendan Eich says that they are “trying to reconnect the funding that comes in gross payments after […]

Amazon Gets Patent for Streaming Data Marketplace for Real-time Crypto Data

Amazon Gets Patent for Streaming Data Marketplace for Real-time Crypto Data

According to a document released by the USPTO last Tuesday, Amazon Technologies Inc. has been granted a patent for a multi-streaming data marketplace that would allow users to see real-time cryptocurrency transactions data. The technology developed by the Amazon subsidiary is designed to process streaming data on a large scale with relatively low latency, allowing developers to “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions. The technology can also be used as a data stream that publishes cryptocurrency transactions visible to all network participants. Source: Coin Telegraph

IMF Head Extols Potential Benefits of Cryptocurrency

IMF Head Extols Potential Benefits of Cryptocurrency

Last Monday, International Monetary Fund head Christine Lagarde praised the potential benefits of assets such as Bitcoin and said that a judicious look at cryptocurrency should lead to neither condemnation nor euphoria. Even as Lagarde maintained her stance on reigning illegal activities involving cryptocurrency, the IMF leader nevertheless called for an even-handed regulatory agenda that protects against threats without hindering innovation. Lagarde’s statement is said to have offered a fresh perspective at a time of increasing negative sentiment on cryptocurrency and Bitcoin which traditional financiers continue to call a ‘bubble’. Source: Coin Telegraph

Mastercard Patents Own Blockchain System for Identity Verification

Mastercard Patents Own Blockchain System for Identity Verification

According to an application published by the U.S Patent and Trademark Office (USPTO) last April 12, Mastercard had filed a patent for a Blockchain system which will be used for storage and verification of identity data. It is said that Mastercard’s blockchain aims to replace proof of identity provided by government identification, credit cards, business cards which are prone to inaccuracies and fabrication. However, the blockchain will use only only authorized nodes to submit and update system data, making it a (semi-)private solution. The financial company still maintains its anti-Bitcoin, pro-Blockchain stance and has already reportedly filed 30 patents related […]

Indian Cryptocurrency Exchange Loses $3.5 Million, Blames Head of Security

Indian Cryptocurrency Exchange Loses $3.5 Million, Blames Head of Security

Indian cryptocurrency exchange Coinsecure reported last Thursday that it had lost around $3.5 million, blaming the theft on its head of security. Director Mohit Kalra told authorities that 438.318 bitcoin have gone missing while its Chief Security Officer (CSO) Amitabh Saxena was extracting Bitcoin Gold which was to be distributed to customers. Kalra added that Saxena also kept a copy of the private keys and feared that he might be at flight risk It is said that the incident marks one of the first major issues on a cryptocurrency exchange in the country. Source: CNBC

India Prohibits Banks from Dealing with Cryptocurrencies

India Prohibits Banks from Dealing with Cryptocurrencies

The Reserve Bank of India issued an announcement last Thursday prohibiting banks from “dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies.” RBI deputy governor Bibhu Prasad Kanungo says that the order, which is to take effect immediately, is a proactive measure needed to ensure financial stability. He added that cryptocurrencies can seriously undermine India’s AML (anti-money laundering) and FATF (Financial Action Task Force) framework. Tech and cryptocurrency personality Pankaj Jain tweeted that the move may just be a knee jerk reaction to an Indian cryptocurrency scammer who was arrested in Bangkok. […]