Blockchain 

Standard Tokenization Protocol Raises $750K in Eight-Second Token Sale

A token sale for Standard Tokenization Protocol (STP) raised $750,000 and sold out within eight seconds, a news release claimed on June 11. The project says it offers an open-source, decentralized standard for the tokenization and issuance of any asset. Following the initial exchange offering (IEO), which was held on Bittrex, STP founder Mike Chen said: “We are excited to move forward with implementing a powerful funding mechanism for other companies that could potentially save billions in funding costs while staying fully compliant in any jurisdiction.” As well as being collected…

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Bitcoin 

Major Pan-African Insurance Firm Rolls Back Insurance for Crypto Mining Equipment

Pan-African insurance company Old Mutual has opted out of insuring cryptocurrency mining equipment due to the absence of regulation in the industry, local technology-focused new outlet ITWeb reported on June 10. Following comprehensive research of the industry, Old Mutual has arrived at a decision not to insure equipment used for digital currency mining because of the unregulated nature of the industry. Among other reasons, the company also named cryptocurrencies’ exposure to fraudulent activity and modified electronic infrastructure of mining equipment that leads to overheating and other malfunctions. Christelle Colman, an…

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Bitcoin 

Canadian University Offers Graduate Training in Blockchain Tech

Canadian-based University of British Columbia (UBC) has announced a blockchain and distributed ledger technology training program for master’s and PhD students. UBC announced the development in a press release on June 11. The training path is reportedly designed to build competency around blockchain tech, and is focused on its application in four public benefit areas: health and wellness, clean energy, regulatory technology and Indigenous issues. UBC says they hope to train 139 students over a six-year period, and graduates should have the tools to evaluate blockchain solutions as well as…

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Bitcoin 

Traditional Exchanges Pull Back From Reg A+ IPOs Due to Fraud Concerns

Traditional exchanges are holding off on Reg A+ initial public offerings (IPOs) following problematic offerings like that of purported cryptocurrency firm Longfin Corp., the Wall Street Journal (WSJ) reported on June 10. Earlier in June, the United States Securities and Exchange Commission’s (SEC) filed fraud charges against Longfin. The SEC claimed that Longfin fabricated 90% of its revenue and sold over 400,000 shares of Longfin that it did not have the funds to back in a scheme to secure its spot on the Nasdaq. The complaint also reportedly stated that…

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Bitcoin 

Former US Senator Rick Santorum Joins Catholic-Focused Cryptocurrency Project

Former United States Senator Rick Santorum has joined the board of a Catholic community-oriented cryptocurrency project, according to a press release published on June 4. The former senator and Republican presidential nominee is now a board member of the Catholic community-oriented cryptocurrency project dubbed Cathio. The platform is designed to address the needs of the Catholic economy by ensuring lower costs, greater transaction visibility, and improved security for the community. Santorum was a noted cultural conservative in U.S. politics, who strongly opposed abortion and same-sex marriage on his failed presidential…

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Blockchain 

Logistics Firm Panalpina Launches Blockchain Pilots in Its Supply Chain

Swiss forwarding and logistics services company Panalpina has started blockchain pilot projects aimed at optimizing of supply chains, according to a press release on June 11. After joining the Blockchain in Transport Alliance (BiTA) in May, Panalpina — one of the world’s largest transport and logistics companies, with consolidated profit of $76.3 million in 2018 — has launched two blockchain pilots in the air and ocean freight field with selected customers. One of the projects will investigate blockchain applications in high-tech industrial goods, and the other will deal with office…

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Ethereum 

Bitcoin Fails to Hold $8K as Cryptos Trade Sideways, Stocks Tumble After Recent Surge

Tuesday, June 11 — crypto markets are trading sideways, with the top 20 coins by market cap predominantly seeing red at press time, according to data from CoinMarketCap. Market visualization from Coin360 Bitcoin (BTC) has failed to hold the $8,000 price point that it broke yesterday after seeing another dip below $7,900 before. At press time, bitcoin is trading at $7,878, down 0.82% over the past 24 hours, seeing a sufficient recovery from the intraday low of $7,778. The biggest cryptocurrency is up 1% over the past 7 days. Bitcoin…

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Cryptocurrency 

Cross Border Enterprise Payments on the Blockchain

Visa announced today that it is entering the $125 trillion money-transferring market and using blockchain technology to do so. Its new product, Visa B2B Connect, is newly launched and allows businesses to transfer money across the globe faster and safer. Let’s check this out. Visa B2B Connect The company has its sights set on cross-border, business-to-business (B2B) transactions, where banks transfer money on behalf of corporate customers. The global money behemoth is using blockchain in order to make these payments faster, cheaper, and more transparent. Its newly launched distributed-ledger called B2B…

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Blockchain 

Chinese City Offers Rent Subsidies, Cash Rewards to Blockchain Businesses

Fuzhou, China is offering rent subsidies to blockchain businesses in a bid to accelerate the industry’s growth, the state-run People’s Daily reported on June 11. The incentive is part of three measures designed to help the sector, and will enable companies to receive up to 600,000 yuan ($86,800) in relief on rent bills per year for three years. Traditional companies will also be encouraged to build blockchain applications, and will be eligible to receive a 20% subsidy on the cost of their development. Projects that win awards for scientific and technological progress, or…

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Blockchain 

Austrian Postal Service Releases Crypto Collectible Stamps

The Austrian Post has released a line of crypto collectible stamps, according to a press release on June 11. According to the press release, the so-dubbed “crypto stamp” is the first stamp in the world to be authenticated via blockchain technology. The postal service has reportedly issued 150,000 copies sold at € 6.90 apiece. When purchased, the stamp set comes in two parts. As pictured below, the left part, which is stylized with a unicorn associated with Ethereum, functions as a standard stamp that can be used to send mail.…

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