By Talha Dar on Feb 13, 2019 04:29 pm
Governments can become bribery-free and superefficient by utilizing blockchain technology, believes Patrick Byrne, Overstock’s CEO and founder. He expressed his views in a Market Watch interview published on 12 February. Byrne, however, added that a fundamental change in the structure of government services was first required, believing that blockchain has the ability to provide an optimum solution to the problem. He maintained that by using only six laptops, one could establish the most advanced government system in the world, plus a central bank for a fully functional society in Venezuela. According to him, Venezuelans need only download a free app to access the planet's most advanced monetary system. Moreover, he thought that in the near future, governments would have to sign contracts with more than one country to enhance the efficiency of their services. Previously, in January, it was declared by Overstock.com that part of its business taxes will be paid using Bitcoin through OhioCrypto.com, a blockchain-based taxpayer platform launched by the state of Ohio. Byrne believes that accommodating regulations and government adoption of blockchain technology will ensure that the US does not lose its place in the ever-growing global economy. It is expected that gradually other governments will also look to integrate blockchain technology into their system. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: pixabay.com The post Overstock Founder: Blockchain Can Make Government Services Incorruptible appeared first on BitcoinNews.com.
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By Bitcoin News PR on Feb 13, 2019 04:10 pm
Bitcoin Press Release: The world's first blockchain PR agency Bitcoin PR Buzz is pleased to announce price reductions of up to $200 throughout the month of January. January 14th, 2019 Belize City, Belize, – To celebrate the start of another year for crypto, Bitcoin PR Buzz are offering up to $200 off all PR packages, during January 2019. With over 5 years experience and over 600 clients, Bitcoin PR Buzz has worked with some of the biggest names in the industry including ARK, LISK, and UTRUST. Bitcoin PR Buzz's upgraded Bitcoin press release services include guaranteed publication of not just press releases, but also featured articles onBitcoinNews.com, CCN.com, The Merkle, Coinspeaker, Oracle Times, The Bitcoin News, Cripto Noticias, Criptomoedas Facil, ZYCrypto.com, Bitcoin News Latin America, Brazil, Arabia and Indonesia, and PR publication on 200-400 other online news outlets including Yahoo Finance, Marketwatch, Reuters.com, NBC, Fox, WND.com, Digital Journal, International Business Times, San Diego Tribune, Boston Globe and much more. New Services During the winter of 2018, Bitcoin PR Buzz announced two new services, which join their pre-existing offerings: - Social Media Management Services – Covering Twitter, Facebook, and Instagram, your university-trained, native English speaking Social Media Manager will provide analytics and take fortnightly conference calls to keep your message and strategy as impactful as possible.
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Bitcoin PR Buzz is also now announcing the ability to secure featured articles and interviews on a range of top-tier mainstream news sites, that are created by industry-leading journalists. January Discounts At the end of 2018, Bitcoin PR Buzz reduced package prices by up to $800 and added 200 new sites including Yahoo Finance. In January 2019, Bitcoin PR Buzz is giving clients a further 5% discount on all packages and services which can be paid for in Bitcoin, Ethereum and Litecoin. This means that some packages now carry a $1,000+ lower price tag than this time in November. For more information please visit the website, or to speak to a London-based Account Manager today, contact the team at contact@bitcoinprbuzz.com. Follow Bitcoin PR Buzz on Twitter – https://twitter.com/BitcoinPRBuzz
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Contact Name: Alex Thurston, Bitcoin PR Buzz COO
Contact Email: contact@bitcoinprbuzz.com Bitcoin PR Buzz is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: The post PR: Bitcoin PR Buzz Announces January PR Sale with $200+ Discounts appeared first on BitcoinNews.com.
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By Talha Dar on Feb 13, 2019 01:27 pm
In the wake of Brexit, further work on the development of “blockchain-based distributed ledger project for customs needs” has been halted by Her Majesty’s Revenue and Customs (HMRC). On the UK Parliament’s website, a question regarding the development of the abovementioned project was raised in the Q&A section. Eddie Hughes, member of parliament (MP), raised the question regarding the future of the project after the UK leaves Europe. An update on the trial of blockchain technology was also requested by Hughes. MP Mel Stride, the financial secretary to the UK Treasury, responded to the query stating that project revolved around the development of a permissioned blockchain which can be utilized in informing a trader’s “Authorized Economic Operator” status. He added that after a trial of six weeks, the government concluded that blockchain technology can be used effectively to securely share the results of sensitive risk checks. The government expects that by using blockchain technology, the efficiency of certain customs processes can be enhanced. Moreover, Stride noted that the complete development of the technology will require more work from HMRC. Hence, the work has been postponed “until after the UK leaves the EU”. Afterward, costs and timescales will be revised accordingly. However, he added that under the cover of the Brexit-focused Future Borders Program, the work might continue. Back in September 2017, HMRC first announced the project related to the application of blockchain for customs needs. Its aim was to utilize blockchain technology in order to make the customs process more efficient after Brexit. It has been reported that after Brexit, UK's customs will have to handle five times more declarations. Reportedly, along with the UK, the US Customs and Border Protection is also looking to integrate blockchain technology into its system. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: pixabay.com The post Brexit Delays UK Blockchain Customs Project appeared first on BitcoinNews.com.
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By Talha Dar on Feb 13, 2019 10:26 am
Traditional money will not be substituted by cryptocurrencies in near future, stated the Central Bank of Chile (Banco Central de Chile, BCC) in a comprehensive report on digital assets. The report was made on a special request of the Tribunal de Defensa de la Libre Competencia (TDLC). The document can be considered official as it was signed by Mario Marcel, president of the central bank. TDLC is an independent anti-monopoly institution established by the Chilean government to ensure the non-violation of free competition rules in Chile. According to the report, Bitcoin and other cryptocurrencies are still in early stages of development. They are represented as alternatives to fiat currency. However, at the moment, it is uncertain whether they will be able to evolve in near future or not. BCC noted that it is skeptical regarding the future of blockchain industry. The report maintained that there is no evidence pointing towards the possibility of digital assets replacing fiat currency. In order to achieve this target, relevant regulations and legal framework have to be established at first. The key parameters hindering the mass adoption of digital assets are: limited acceptance, slow payments, and volatility, stated the report. BCC also noted that the share of the crypto market in Chile is almost negligible as compared to conventional money. In the report, BCC has hinted at the possible framework for crypto regulations. It is expected that digital assets will be regarded as intangible assets and a digital representation of value. Therefore, without any additional restrictions, digital assets will be used to purchase goods and services. However, Chile has been unable to introduce a lucid legal framework for digital assets. However, after this report, it seems that the government intends to take the issue more seriously. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: pixabay.com The post Chile Central Bank: Crypto Needs Legal Framework to Substitute Fiat appeared first on BitcoinNews.com.
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By Talha Dar on Feb 13, 2019 08:24 am
Prominent logistics company Baltika based in Russia is working on a blockchain-based solution for improving and immuting its port operations, according to Russian media outlet Morvesti. For this purpose, the company has inked a new deal with a Moscow-based blockchain company Iconic. The new DLT-based solution will reportedly allow Baltika to store all necessary shipping related information on the blockchain and thus benefit from its transparency and immutability. According to the news report, all allied information like tug boat rentals, and vessel parking will also be available in the digital system and the service providing boats can be ordered and tracked online without any need of inefficient paperwork. According to Baltika, the decentralization will allow the company to reduce the timing of port operations from several hours to just 25 minutes. It will also help save one hour of boat operations during the unloading process which can be quite cumbersome. Baltika is planning to use the system in 14 major ports all over Russia and other parts of Europe where it is operating like Italy and Cyprus. Baltika uses over 3,000 ships every year and every improvement in the timing process will save the company money and make them more competitive. The shipping industry is working on a number of blockchain-based solutions for solving inefficiencies and increasing their productivity. IBM’s Hyperledger blockchain is being used by dozens of ports around the world in partnership with Maersk, the world’s largest shipping company. Smaller companies like Baltika are now trying their hands on their DLT-based solutions to remain competitive in the sector. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: pexels.com The post Russian Cargo Shipper to Use Blockchain for Port Logistics appeared first on BitcoinNews.com.
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By Manuel on Feb 13, 2019 06:23 am
Talks about a Bitcoin exchange-traded fund (ETF) have been in the works a while now, and some experts in mainstream finance still believe it’s only a matter of time before one is granted. Ric Edelman, co-founder of Edelman Financial Services, insisted in an interview with CNBC that a Bitcoin ETF was “virtually certain”. The derivative market for Bitcoin and altcoins are still a nascent development and while many mainstream financial players may have been watching from a distance, some have drawn closer to become pioneers from the traditional system to venture into cryptocurrency-related markets built on the topology of the traditional market. Edelman’s comment that it was only a matter of time, adds yet another to many recent speculations that continue to draw the spotlight on Bitcoin in mainstream finance. Bitcoin News reported earlier how mainstream financial players are considering hedging 1% of their portfolio funds to bitcoin – playing it safe with almost nothing to lose. Edelman also agreed to this strategy implying that the price volatility of the Bitcoin market can have useful impacts when favorable, and minimal when the price dips – after all, it’s just 1% of funds in the portfolio that will be affected. He further reiterated the concerns of the regulatory watchdog, suggesting that the concerns of the SEC with regards to the crypto industry are legitimate and thoughtful. While affirming his confidence in the cryptocurrency markets and the efforts of key drivers in the industry towards overcoming these challenges, he, however, feels the time isn’t right for ordinary investors to dive into crypto investments, and that the ETF may highlight that hallmark. He said: “It’s at that stage [Bitcoin ETF] that I will be much more comfortable recommending that ordinary investors participate.”
The Cryptocurrency industry is one of the most dynamic and innovative financial systems. However, regulators have thought it wise to tread carefully due to the overwhelming issues currently plaguing the industry, which the SEC has bored down to two basics: custody infrastructure and market oversight concerns – given that the nature of digital assets built on the blockchain is essentially decentralized. Edelman further opines that serious players are in the industry, and are pulling in resources to ensure that they surmount the challenges highlighted by the SEC. After multiple rejected Bitcoin ETF applications last year and a withdrawn application earlier this year due to the United States government shutdown, Chicago Board Options Exchange (CBOE), SolidX, as well as VanEck have reapplied with the SEC keeping fingers crossed. At this point, there’s no doubt that there’s high demand for Bitcoin ETF; from mainstream financial institutions to current crypto market participants; everyone is eagerly waiting to see the ETF approval lift the long bear-ridden cycle of the market. Logically, the expectations are hinged on the premise of a similar occurrence in the December 2017 hype-drive, when Bitcoin futures introduced into the market by CBOE and CME Group ushered in a new class of investors and traders, thereby propelling the price-value of Bitcoin as well as alt markets. ETF is one among others in the pipeline of financial derivatives that may fully launch crypto into mainstream finance. Recently, LedgerX introduced a new derivative called Binary Wager that would bet on Bitcoin’s next halving date. This occurrence happens once in every four years, and the new instrument can be classed under the long term derivate market. Either way, it would seem a lot of individuals have long term expectations for Bitcoin as well as the crypto market in general. Follow BitcoinNews.com on Twitter: @BitcoinNewsCom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: Pixabay The post Bitcoin ETF a “Virtual Certainty”, Says Financial Expert appeared first on BitcoinNews.com.
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By Talha Dar on Feb 13, 2019 04:20 am
Former CEO of the now-defunct cryptocurrency exchange Mt Gox Mark Karpeles has flatly refuted any attempts to restart operations of the exchange. Comments regarding a restart were first floated by Brock Pierce, who claimed he could reboot the exchange and give better compensations to the traders affected by the exchange’s hack back in 2014 that saw a whopping BTC 850,000. The hack remains to this day the biggest single hack in terms of Bitcoin ever and the stolen amount is worth more than USD 3 billion at the latest exchange rate. Following the hack, the exchange announced bankruptcy and slowly started the process to compensate the traders on its portal despite Bitcoin’s price increasing several times over. It reportedly had enough remaining deposits to compensate them but so far, the progress has been slow, although legal proceedings in Japan, where the exchange was based, have helped facilitate the compensation for claimants. Pierce, the controversial crypto personality behind Blockchain Capital, Block.one and EOS Alliance, claimed recently that he would kickstart a GoxRising movement to get the exchange up and running again. Karpeles refuted this claim strongly and said that there is no agreement between Mt Gox and Pierce’s Sunlot Holding Company even though a process was started back in 2014. He said: “The letter of intent is a proposal, which was supposed to result in an agreement within 45 days, on condition of approval by the court, the trustee and/or anyone the court appoints. As far as I know no agreement was reached within 45 days, nor did the court and the trustee approve such an agreement…” Karpeles, along with other senior executives of Mt Gox, are still under scrutiny in courts on several counts including embezzlement of USD 3 million worth of funds from the exchange and manipulating the cash balance of the exchange. While he himself has pled not guilty, prosecutors are intent at getting a ten-year sentence for him from the court. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: pexels.com The post Ex Mt Gox CEO Pours Cold Water on Exchange Reboot appeared first on BitcoinNews.com.
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By Talha Dar on Feb 13, 2019 12:32 am
Ripple has recently claimed that it had no role in the development of the cryptocurrency XRP. However, reports are surfacing that claim the company was found utilizing its huge XRP reserves to attract potential hires. It began with a media report claiming that an engineer was offered an XRP pay package by Ripple. The engineer, whose name has not been named, said that he received an email in late 2018 from the company stating that along with a generous salary, he would receive XRP worth USD 3 million. For its xCurrent project, the company is looking to hire a new engineering head in addition to more than 12 technical experts and engineers, as stated on Ripple’s LinkedIn profile. xCurrent project is looking to challenge SWIFT (a legacy messaging network). This is not the first time that Ripple has faced these allegations. In September 2018, an engineer requesting anonymity told the media about a similar email from the company offering him a generous XRP bonus package. On the basis of the data obtained from two potential recruits, the general range of bonuses in XRP for engineers is from USD 1-6 million. However, these salaries are based on seniority. A former Ripple employee revealed that it is a standard in Silicon Valley to offer generous equity deals to new recruits. However, he noted that before 2017, he never heard of anything like XRP bonus packages. Nevertheless, the company has refused to comment on bonus packages. It is uncertain whether these packages are still being offered or not. The overly centralized nature of XRP is a much-debated topic within the crypto community and will draw further flak if it is proved that the company’s infrastructure is completely centralized. LATEST UPDATE 13 February 2019: Ripple, however, contradicted these rumours strongly and a spokesperson said: "Ripple does not offer engineering compensation packages that include XRP bonuses. In late 2018, we found out that a contracted recruiter was incorrectly suggesting to prospective employees that such packages were available. That individual has not worked on our behalf in months." So while Ripple has denied the claims, only the future will tell how truthful these claims are. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: bitcoinnews.com The post Report Claims Ripple Tempts Recruits with Generous XRP Packages appeared first on BitcoinNews.com.
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By Talha Dar on Feb 12, 2019 10:31 pm
In order to tackle the recent drought in some parts of the state of California, IBM has decided to start a collaborative project utilizing the Internet of Things (IoT) and blockchain, stated an official press release. The project will focus on sustainable management of one of the largest and most at risk aquifers in North America by using IoT and blockchain technology. Reportedly, the University of Colorado Boulder and non-profit The Freshwater Trust (TFT) have joined hands with SweetSense (IBM’s Research and sensor tech provider). The aquifer, located in Sacramento-San Joaquin River Delta, covers an area of approximately 1,100 square miles. Therefore, it provides a good practice ground for testing the proposed sustainability project. IoT sensors will be used to transmit water extraction data to orbiting satellites, claims the press release. These satellites will be used to detect weather and rainfall correlations. Later, IBM Blockchain Platform with cloud-hosting and smart contract-compatibility will be used to record this data. Thus, regulators, farmers and financers will be able to monitor the underground water levels in real time by using a web-based dashboard. Successful implementation of this real-time water tracking system will enable stakeholders to manage their underground water shares more effectively. In the future, they may trade water as well. Apart from the technical initiative, the Northern Delta Groundwater Sustainability Agency has also been established by TFT. This agency aims at integrating various smaller agencies under one banner to work for sustainable underground water management. Although the said project may be the first of its kind in the US, SweetSense is already working on its sensor technology to track groundwater supplies in Kenya and Ethiopia. Follow BitcoinNews.com on Twitter: @bitcoinnewscom Telegram Alerts from BitcoinNews.com: https://t.me/bconews Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here. Image Courtesy: bitcoinnews.com The post IBM Fights California Drought with Blockchain appeared first on BitcoinNews.com.
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Recap - Day in Crypto - BitcoinNews.com for 02/13/2019