Bitcoin & Cryptocurrency

Singapore Uses Blockchain for Renewable Energy Trading

Singapore Uses Blockchain for Renewable Energy Trading

Utilities provider SP Group recently revealed that Singaporean companies can now buy and sell renewable energy certificates (RECs) using a blockchain-powered system. SP Group says that similar to carbon trading, the new platform allows for better transparency and lower cost since it reduces the need for a centralized entity to verify transactions, and can eventually be used for cross-border energy credit trading. Lars Kvale of APX, a global issuer of RECs, says that blockchain and DLT in the context of environmental commodity platforms can be used to establish trust relationships with upstream information sources without having to revalidate it.     […]

Major Banks Launch Blockchain Trade Finance Platform in Hong Kong

Major Banks Launch Blockchain Trade Finance Platform in Hong Kong

HSBC, Standard Chartered and 10 other banks launched this week a blockchain-powered trade finance platform which is expected to increase the efficiency in funding the multi-trillion-dollar funding of global trade. HSBC says that the approval of trade loan applications, which usually takes more than one day, can now be done in around four hours on their eTrade Connect platform. The heavily paper-based trade finance transaction industry, which was worth around $9 trillion in 2017, is expected to benefit from blockchain technology which can reduce the risk of fraud in letters of credit (LoC) and other transactions, as well as cut […]

China’s Biggest Newspaper Launches Blockchain Lab with Tech Company

China’s Biggest Newspaper Launches Blockchain Lab with Tech Company

The venture capital division of China’s state-backed newspaper, People’s Daily Online, has reportedly ventured into a partnership with Shenzhen’s Xunlei Limited to build a lab dedicated to research on the various application of blockchain technology. The lab, which will be a site for “technology innovation” at the People Capital’s Blockchain Research Institute, is part of an initial global partnership agreement signed by CCP’s official newspaper and Xunlei Limited last July 22. The partners also said that they will be building a “high-level industrial service platform” to organize competitions, seminars, workshops, and promote and identify startups in the blockchain industry.   […]

Ateneo, MediXserve to Offer Blockchain Education Next Year

Ateneo, MediXserve to Offer Blockchain Education Next Year

Health startup MediXserve and the Ateneo de Manila university announced this week the launch of AMBERLab, the country’s first university-based blockchain education and research laboratory.   The Ateneo-MediXserve Blockchain Education and Research Laboratory will be a think tank focused on the study and application of blockchain technologies for developing countries, as well as related initiatives by the private sector. Led by Dr. Regina Estuar, the lab will not be profit-motivated, but will instead center on social good aspects, particularly with the health and agriculture sectors, among others. Source: Rappler

Blockchain Engineer Salaries Rising, Now at Par with AI Experts

Blockchain Engineer Salaries Rising, Now at Par with AI Experts

Recent statistics provided by recruitment firm Hired showed that blockchain engineers are now making around $150,000 to $175,000, despite the downturn in the cryptocurrency market. Hired adds that this salary range is fast increasing and already at par with the salaries of artificial intelligence developers, and higher than any other specialized engineering roles. In fact, Hired CEO Mehul Patel says that blockchain as a desired skill has risen to 400 percent this year alone. Job postings from companies such as Amazon, IBM, Facebook and Microsoft have also contributed to the increasing demand in blockchain experts. Source: CNBC

Top Cryptocurrencies Rise on Tether Dip

Top Cryptocurrencies Rise on Tether Dip

Major cryptocurrencies such as Bitcoin, Ethereum, and Ripple rose around 7 percent today as US dollar-pegged token Tether dipped to around 93 cents. The price increase follows a sharp downturn last week where the cryptocurrency market lost billions in market capitalization along with a two-day selloff in stock markets around the world. In an email this week, Charles Hayter of CryptoCompare mentioned that many have been concerned as to whether Tether is really backed by dollars, and that it is already being delisted from a number of exchanges.   Source: CNBC

Apple Co-Founder Reveals Involvement in Blockchain Venture

Apple Co-Founder Reveals Involvement in Blockchain Venture

Apple’s Steve Wozniak was revealed this week to be the co-founder of a blockchain-focused VC fund called EQUI Global which seeks to enable non-institutional investments and allow investors to trade on cryptocurrency exchanges using its own virtual currency, EquiTokens. Wozniak says that Equi Global will be catering to sophisticated investors who are focused on venture capital funds via EquiTokens which can easily be liquidated on various exchanges. Reports say that 80 percent of the company’s investments will be put into tech companies while the rest, in real estate and art. Wozniak added that they have already partnered with around 20 […]

China Announced Special “Pilot Zone” for Blockchain Development

China Announced Special “Pilot Zone” for Blockchain Development

China’s state media agency Xinhua announced this week the country’s first officially licensed “blockchain pilot zone” which will be situated in the southern province of Hainan. The chief of Hainan’s provincial department of industry and information technology, Wang Jing, the special zone is expected to attract talent to China. With a base at the Hainan Resort Software Community, the institute was also a product of a collaboration with the University College Oxford Blockchain Research Centre at Oxford University. Beijing’s Remin University will also be involved with the RSC’s innovation center which will cater to institutions. Source: Coin Telegraph

Venezuelans Required to Pay Passports in Petro Cryptocurrency

Venezuelans Required to Pay Passports in Petro Cryptocurrency

According to a recent Bloomberg report, Venezuelans are now being forced to pay for their passports in Petro, the state-backed cryptocurrency. In a press conference last Fiday, Vice President Delcy Rodriguez announced that a new passport will cost citizens two petros or roughly 7,200 bolivars.   It is said that the cost, which is around four times the minimum monthly wage, will likely hinder citizens from fleeing the country. The oil and mineral-backed cryptocurrency was formally announced by President Maduro just last week, despite arriving in pre-sale in February. Source: CoinDesk

Ripple Signs Up Three Firms for Crypto-Based Cross-Border Payments  

Ripple Signs Up Three Firms for Crypto-Based Cross-Border Payments  

Cryptocurrency startup Ripple announced this week that it has signed up three payment services firms Cuallix, MercuryFX and Catalyst Corporate Federal Credit Union as clients. The companies will be using the startup’s virtual currency-based payment platform xRapid for international transfers. It is said that the project will mark one of the first uses of cryptocurrency in a commercial product by financial institutions. Alastair Constance, MercuryFX CEO and founder, also revealed that they may roll out commercial payments sometime within the quarter.    Source: Reuters