Blockchain 

Power Ledger and KEPCO Complete Blockchain Energy Trade Trial in Japan

Australian energy technology company Power Ledger and Japanese Kansai Electric Power Co. (KEPCO) have completed a joint trial of a blockchain-based system for post-FIT (feed-in tariff) surplus power in Osaka. P2P transaction of surplus power In an announcement published on Aug. 12, Power Ledger revealed the test completion of a peer-to-peer system demonstrating benefits for post-FIT surplus power in the Japanese city of Osaka. The system purportedly enabled KEPCO to conduct a p2p transaction of surplus power autonomously and automatically, which included settlements with digital currency. Fumiaki Ishida, KEPCO representative…

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Ethereum 

Bitcoin Price Breaches $12,000 As Analysts Declare ‘Bear Trap’ Complete

Bitcoin (BTC) continued defying expectations to retake $12,000 on July 4 as analysts increasingly compare its performance to 2017’s parabolic rise.  Market visualization courtesy of Coin360 Data from Coin360 showed BTC/USD retracing slightly to $11,680 after hitting $12,025, continuing a rebound which began on Tuesday.  Bitcoin’s behavior had surprised most earlier in the week, after a bearish move downwards to just $9,700 suddenly U-turned, mushrooming into fresh growth.  Now, charts are looking increasingly like a repeat of bitcoin’s progress in the second half of 2017, regular trader Filb Filb says. …

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Blockchain 

Stellar Node Outage Causes Two-Hour Complete Transaction Freeze

Blockchain network Stellar (XLM) stopped confirming transactions for two hours on May 15, executives confirmed following a user post on social media. Stellar, whose lumens token is currently the eighth-largest cryptocurrency by market cap, went down entirely for around 110 minutes Wednesday. The cause, it appears, was a mass offlining of Stellar Development Foundation (SDF) nodes, which the majority of the network trusts. Accordingly, other participants failed to find consensus for blocks, and no transactions were validated until developers resolved the issue. “I really hope we’ll get a real debate…

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Blockchain 

Singapore and Canada Central Banks Complete First Cross-Border Blockchain Payment

The central banks of Singapore and Canada have successfully used their blockchain networks to send each other digital currency, a joint press release confirmed on May 2. As part of the distributed ledger technology (DLT) projects being pursued by both banks, the Monetary Authority of Singapore (BAS) sent funds to the Bank of Canada (BoC) without a third party. The process was made possible by linking up two DLT networks: MAS’ nascent Project Ubin platform and BoC’s Project Jasper. JPMorgan and accounting giant Accenture, which assisted in the development of…

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Bitcoin 

India Considers Complete Ban on Digital Currencies

A draft bill that would outright ban cryptocurrency is reportedly circulating among various departments of the Indian government, local media outlet The Economic Times reported on April 25. An official familiar with the matter reportedly told the Economic Times that the government has begun inter-ministerial consultations on the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ draft bill. A committee consisting of the Department of Economic Affairs (DEA), the Central Board of Direct Taxes (CBDT), the Central Board of Indirect Taxes and Customs (CBIC) and the Investor…

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Bitcoin 

Crypto ‘Won’t Turn Out to Be a Complete Delusion’

British economic and financial historian Niall Ferguson says that cryptocurrencies will not turn out to have been a complete delusion, as he had once assumed. The historian — who authored a book on the history of currencies, “The Ascent of Money” —  made his remarks at a private event during the Australian Financial Review (AFR) Business Summit earlier this week, the AFR reported on March 6. “I was very wrong. Wrong to think there was no […] use for a form of currency based on blockchain technology,” Ferguson is reported…

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Blockchain 

Deutsche Boerse, Commerzbank Complete Blockchain PoC for Legally Binding Repo Transaction

German financial services company Commerzbank and securities marketplace Deutsche Boerse have completed a proof-of-concept (PoC) for a legally binding repo transaction using distributed ledger technology (DLT). The news was reported by Cointelegraph auf Deutsch on March 6. A repo transaction is commonly used for short-term borrowing, and allows dealers to sell securities to investors — often for as short a time as overnight —  and repurchase them the following day, or as otherwise determined. For the party selling the security, the process is termed a repo, whereas for the counterparty,…

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Blockchain 

Three Swiss Firms Complete ‘First’ $3 Mln Real Estate Transaction on Blockchain

Blockchain property transaction platform blockkimo Ltd along with two other companies have jointly completed “the first” real estate transaction on a blockchain in Switzerland. The development was announced by blockimmo in a blog post on Mar. 1. Blockimmo, proptech company Elea Labs Ltd. and digital assets service firm Swiss Crypto Tokens Ltd. have conducted a blockchain-based real estate transaction —  consisting of 18 apartments and a restaurant — at a cost of 3 million Swiss francs ($2.98 million). The property was reportedly tokenized, which means that its real asset value…

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Blockchain 

Commerzbank, Siemens and Continental Complete Blockchain Money Market Pilot

German banking and financial services company Commerzbank and technology companies Continental and Siemens have jointly conducted a money market security transaction pilot using blockchain technology. Cointelegraph auf Deutsch reported on the development on Feb. 21. Money market securities are short-terms assets that serve for financing companies and usually have a maturity of one year or less. Usually, the processing of a payment takes two days due to a clearing process. The aforementioned parties “for the first time” conducted a blockchain-based money market security transaction worth 100,000 euro ($113,340) within a…

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Blockchain 

Ethereum 2.0 Pre-Release Kicks Off ‘Relatively Feature Complete’

Ethereum (ETH) has launched its first pre-release for phase zero of the network’s evolving transition to Ethereum 2.0, according to new post published to Ethereum’s github on Jan. 31. The post notes that “this marks the first release in a series of weekly releases through February 2019. Phase 0 in v0.1 is relatively feature complete and approaching stable.” Ethereum 2.0, also known as Serenity, is planned to be the system’s final upgrade, as the entire network transitions from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus algorithm, and tackles fundamental…

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