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Hong Kong to Deploy Blockchain Against Insurance Scammers
Hong Kong has reportedly developed a new weapon to combat insurance fraud, Insurance Business Asia reports: Hong Kong-based start-up CryptoBLK and the Hong Kong Federation of Insurers (HKFI) have launched a motor insurance platform that harnesses blockchain to ensure authenticity and counter fraud. The platform is called the Motor Insurance DLT-based Authentication System (MIDAS), and Insurance Business Asia – citing
Price of Bitcoin Crosses $4,000 Mark in EOY Comeback
Blockchain
n November, the price of bitcoin dropped to its lowest point since August 2017. On the back of a month-long rout, bitcoin prices are climbing steadily, rising more than 7% yesterday alone and 33% over the last 5 days. Some attribute this growth as a reaction to the Federal Reserve’s interest rate hike while others think investors simply saw the
Report: Facebook's Blockchain Group is Trying to Ramp Up Staff - But it's Meeting Some Resistance
Facebook's secret blockchain group is in the midst of an aggressive hiring push, sending "staffers to crypto conferences around the world to recruit researchers, cryptographers, and top academics in the field," Cheddar reports. There's only one problem: With Facebook's reputation at its lowest point right now - given a succession of scandals that are mostly tied to its mishandling of
Despite Attracting A-List Investors, Basis Has Shutdown its Stablecoin Project
Basis, the New Jersey-based crypto startup that was working on developing a stablecoin - and had attracted a number of A-List investors in short order - has announced that it is returning all money to investors and shutting down. The company blamed regulatory challenges for its demise, noting in a statement that "having to apply US securities regulation to the
S.E.C. Chief Says ICOs Are a Good Way to Raise Capital - As Long as Security Laws Are Followed
To say the U.S. Securities and Exchange Commission has held a skeptical view of cryptocurrencies and initial coin offerings (ICOs) would be a major understatement. There have been the warnings to investors about the inherent risks of ICOs and cryptocurrency investment funds; the charges against ICOS for defrauding or misleading investors; and the pushback against celebrity endorsed coin offerings. Speaking
3 Takeaways From Bitcoin's Bad Year
It was at an investor conference in New York back in September 2017, as Bitcoin was surging toward record highs and pulling other cryptocurrencies up along with it, that JPMorgan chief executive Jamie Dimon declared Bitcoin to be "a fraud," asserting that the world's largest cryptocurrency by market value was "worse than the tulip bulbs." Dimon was, of course, referencing
The Bitcoin Price Selloff Continues as Institutional Investors Balk
Blockchain
It’s been about a year since the bitcoin price peaked at around $19,500, and the cryptocurrency has shifted lower and lower ever since. Some are now going so far as to say that bitcoin is essentially worthless, but not everyone is ready to give up on it yet, despite the fact that it continues to slump further underneath key support
Coinone Transfer Rolls out South Korea’s First Blockchain-Based Payments App
Blockchain
Coinone Transfer, the payments arm of South Korean crypto exchange Coinone, has officially launched Cross, a blockchain-based remittance app and web service, Yahoo Finance reports. The blockchain-fueled payments app is the nation’s first, and it uses RippleNet to transfer funds to Thailand and the Philippines through Siam Commercial Bank and Cebuana Lhuillier, respectively. It has plans for an “aggressive” expansion
2019 Predictions for Blockchain Technology
Blockchain
As 2018 quickly draws to a close, we have included a selection of commentary below from a variety of industry experts from companies utilizing blockchain technology to reflect on the year that was, as well as provide insight on what the next 12 months could potentially hold for blockchain. MichaelWuensch / Pixabay Among the topics that are explored include the
The Most Popular Women in Cryptocurrency [Infographic]
Blockchain
A cryptocurrency is nothing but a digital asset that is used to work as a medium of exchange which makes use of a very strong cryptography to secure financial transactions, verifying the transfer of assets and to control the creation of additional units. It is a kind of digital currency and a currency that is alternative. They use a technique