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Monthly Archives: November 2018

Blockchain Adoption | Sberbank CEO Anticipates 1-2 More Years

The head of Russia’s Sberbank has set tongues wagging after he emerged bullish about the future of blockchain adoption. CEO Herman Gref is forecasting industrial scale adoption in as little as one or two years. Blockchain Adoption Gref believes the technology is on the cusp of entering the industrial development stage of its evolution. Speaking to journalists this week, he said: “The hype around the technology [blockchain] is now over, and the technology is entering the stage of industrial development. It needs a year or two to be implemented at the industrial scale.” The head of Sberbank furthered that the global markets are “not yet ready” for large-scale blockchain adoption due to the “immaturity of the technology.” However, in under two years, the technology will be ready. Sberbank and Blockchain Since 2017, Sberbank, along with other major Russian banks and institutions, has been actively trialing blockchain. In December of that year, Sberbank partnered with Russia’s Federal Antimonopoly Service to store documents and transfer data on the blockchain. Then, in June 2018, the bank partnered with Alfa Bank to test investment options with cryptocurrency for retail investors. >> Coinbase CTO Believes Home Cryptocurrency Mining is the Future with Coinmine Four months later, Sberbank …

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Bitcoin News Summary – November 5, 2018

Here’s what happened this week in Bitcoin in 99 seconds.  Former US congressman and famous Libertarian, Ron Paul, advocated for the abolition of all taxation on cryptocurrencies. Paul said such a move may prevent recession. He also supported President Trump’s recent criticism of the Federal Reserve. Venezuela’s state cryptocurrency, the Petro, was officially launched. However, reports indicate that only Petro certificates are currently being sold, not actual crypto coins. South Korea’s central district court ruled that banks may not terminate partnerships with crypto exchanges without good reason. The country’s commissioner of Financial Services said that compliant exchanges will have no more problems with so-called virtual bank accounts. The Bitcoin community celebrated the 10 year anniversary of the Bitcoin white paper’s publication. This groundbreaking document can be downloaded from bitcoin.org. Wasabi Wallet for Bitcoin was finally released. This new wallet offers superior privacy, through built-in CoinJoin mixing, Tor network use, and other advanced features. The wallet is available for Windows, Mac and Linux. Canadians were affected by the disappearance of the MapleChange exchange. About 2000 users have lost their Bitcoin or Litecoin as a result of a code exploit. Some suspect an exit scam. Other altcoins are being refunded by …

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Nigeria’s Fintech Startups Call For Cryptocurrency Regulation to Stem Investment Outflows

Regulation Nigeria’s financial technology startups have called on the Central Bank of Nigeria (CBN) to provide legal guidelines for the cryptocurrency and blockchain industry. A lack of regulation is driving investment out of Africa’s biggest economy to areas like Rwanda and Europe while fomenting uncertainty, according to the Electronic Payment Practitioners Association of Nigeria (E-ppan). Also Read: Canadian Bitcoin Miner Hut 8 Reports Q3 Loss of $8.7 Million Lack of Regulation Drives Capital Away “Investments in blockchain-based financial services such as cryptocurrency are today going to Rwanda and Malta, which have provided regulatory frameworks that guide operators of the technology,” Ade Atobatele, founder of Gboza Gboza Technology Ltd, a member of the E-ppan association, is quoted by the local Guardian newspaper as saying. Atobatele was speaking at a conference organised by the fintech lobby group in the Nigerian commercial capital Lagos this week. Noting how technology develops at a rate much faster than financial regulators can cope with, he said some regulatory oversight is, nevertheless, needed to give direction and to tackle issues around risk and service delivery. Atobatele lamented: We have a license with CBN, but our blockchain-based services are being operated in Rwanda, which has offered us the license. E-ppan …

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The Third Web #11 – An Emerging India

Click to download audio version Recently I visited India representing the DFINITY Foundation. The trip was supported by upstart venture production and consulting group, Dunya Labs, and advocacy group, InCrypt. Those ten days altered my understanding of the way technology manifests products and the driving role the needs of high growth nations will have in defining the digital landscape of tomorrow. In this episode, I’m joined by co-founder of Dunya Labs, Cathy Guo, and co-founders of InCrypt, Nitin Sharma & Sumukh Shetty. We examine the Indian startup, business and regulatory environments. We also look at the growth of telecommunications infrastructure alongside macro demographic trends and the unique business conditions they create. https://www.incrypt.co/ https://www.dunyalabs.io/ https://twitter.com/thethirdweb Incrypt Investment, community building, and policy research and advocacy Has produced study and guidance on regulation Dunya Labs Research Arm Product specific research Infrastructure team connecting applications to protocols Community and incubation Cathy’s Book Entrepreneurial philosophy Corporate responsibility Emerging tech landscape in India Emerging startup ecosystem The way that Indian startups create social and economic value How do you see blockchain technology being deployed in India? Low trust, high administrative friction in India Middlemen are a big problem Desire for transparency and automation More data is …

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CBOE Bitcoin (BTC) Futures Reach Record-Low Volatility

Bitcoin (BTC) futures hit record low volatility in October on the US Chicago Board Options Exchange (CBOE), MarketWatch reported yesterday. CBOE Bitcoin (BTC) Futures Kevin Davitt, a Senior instructor at CBOE Options Institute, published a video on November 1st outlining the volatility decline. In the video above, Davitt outlines that the average weekly volatility for XBT-CBOE Bitcoin (BTC) futures on the week ending October 26th was just three percent. This is the lowest level of volatility since the futures contracts launched on December 10th, 2017. As of the first of November, the average weekly XBT high-low range on front-month Bitcoin futures since inception is 15.65%. Since tax day, mid-April 2018, this weekly average had dropped to 10.6%. “As it turns out, [Bitcoin] XBT futures and cryptos in general are moving with very little speed. The week ending Oct. 26th was the least volatile since futures were introduced nearly a year ago,” Davitt told MarketWatch. This CBOE Bitcoin (BTC) futures news is a positive one for institutional investors wanting to get into the crypto space, as high volatility is the reason most have stayed away. Even major banks interested in launching their own crypto products have been hesitant due to the …

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Delta Exchange – #TradersFirst Crypto Futures Exchange | CryptScout.com

Introduction With many countries legalizing the trade of AltCoins, it is clear that cryptocurrencies are here to stay. And given the inherent scale, security, decentralizability and robustness of the underlying technologies (think blockchain and cryptography), cryptocurrency is the currency of the future. But the crypto marketplace is still in a stage of evolution before it can take on traditional fiat currency. Traditional currencies are more liquid, less volatile due to large acceptance and have regulated exchange systems. But recently, a radical development is underway in the cryptocoin evolution – cryptocurrency derivatives and futures. For traders, futures trading offer many additional benefits over just holding bitcoins in your wallet and hoping for things to be bullish. I was curious about how to get into AltCoin Derivatives Trading when I stumbled across Delta Exchange. I went ahead and created an account with Delta Exchange.  After adding a little of my bitcoin balance to the delta exchange account i started exploring the platform and crypto futures in general. I believe that Delta Exchange has a promising future – pun intended. So, here’s the delta exchange mock trading page for the inquisitive crypto buffs. And here is a referral link for you to save …

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Winklevoss Twins Lawsuit | Gemini Founders Sue Charlie Shrem

The Winklevoss twins have filed a lawsuit against infamous BitInstant founder Charlie Shrem. They claim the Bitcoin investor stole 5,000 Bitcoins from them in 2012. Winklevoss Twins Lawsuit According to the New York Times, Shrem made several lavish purchases in 2018 that caught the attention of the Winklevoss twins. They filed a civil suit against him, convinced that Shrem made these purchases—which include a $2 million house and luxury cars—using the Bitcoins he had stolen from them in 2012. Shrem Worked for the Winklevoss Twins Before Lawsuit The twins hired Shrem in 2012. Tasked with building up a cryptocurrency stockpile, he had access to thousands of dollars to purchase Bitcoin. At this point in time, Bitcoin was worth around $12 per coin. The Winklevoss twins’ lawsuit claims that around $60,000 worth of Bitcoin was never accounted for. At approx $12 per coin, this value meant around 5,000 Bitcoins. However, 5,000 Bitcoins in today’s market is worth roughly $30 million. At that value, the Winklevoss twins have decided to push forward on the matter even though it has been a contentious issue between the parties for several years. >> BNP Paribas, HSBC, and 10 Other Banks Launch Hong Kong Blockchain Trade …

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