Welcome to another crazy week in cryptocurrency! There’s been a lot for blockchain enthusiasts to digest this week, but let’s start with consortium news. The R3CEV blockchain consortium of banks opened its Corda codebase up to the larger developer community this week, in the hopes that independent experiments based onRead More
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The R3CEV blockchain consortium today released its code for Corda, its distributed ledger technology, into the wider world. The Corda code was also accepted into the Hyperledger project, alongside other budding distributed ledger technology. Despite recent events, R3 is still the largest consortium of banks dedicated to producing blockchain, orRead More
A new type of ransomware is targeting users through their social media accounts, most notably through Facebook and LinkedIn, before doing what ransomware does: locking the computer and demanding payment for access–in bitcoin. Dubbed ImageGate by software company Check Point, the malware embeds itself into image or graphic files onRead More
It’s been another week, an eternity in the bitcoin world, and it looks like Bitfinex’s chosen recovery plan, in which it would “socialize” its losses by having its customers share 36% of the loss, may not actually, strictly speaking, be legal. “I think these questions are falling into a bit ofRead More
It’s been just about a week since the bitcoin exchange Bitfinex was hacked, with a loss of 119, 756 BTC, or about $80 million in boring old, traditional currency. The hack remains a hot-button topic in the bitcoin world, with many calling for the need of increased oversight of bitcoin exchanges.Read More
Ripple Labs today earned the dubious distinction of being the first virtual currency exchange to be fined by FinCEN for failing to comply with anti-money laundering rules. This is sure to send a chill through the world of virtual currency. The San Francisco-based company, which allows for rapid inexpensive movementRead More
Hey buddy, wanna buy some bitcoins? It’s buyer-beware in the world of bitcoin cloudmining, with as many as 75% of those purporting to provide the service being fraudulent, according to a bitcoin mining industry expert. Cloudmining allows users to invest money up front in mining operations and get bitcoins out the backendRead More
The blockchain is being put to new and creative uses — like, you know, starting a company? It turns out that Singapore-based Otonomos, one of 10 startups just announced as participants Startupbootcamp’s newly announced Singapore accelerator, will help “form, fund and govern your company on the blockchain.” It’s as simple as filling out a shortRead More
Benjamin Lawsky, superintendent of financial services for the New York State Department of Financial Services, is perhaps best known among FinTech watchers for championing New York’s proposed BitLicense regulation. Yesterday, at the Bipartisan Policy Center in Washington, Lawsky proposed revising the original BitLicense regulation, and also threw in some choice commentsRead More
Conventional wisdom has banks watching Bitcoin with great wariness, but two recent moves may suggest otherwise. Bitcoin successfully luring executives from financial services powerhouses shows a vote of confidence in the cryptocurrency by the people (if not the institutions) making up the financial services industry.