Blockchain 

China’s Army Considering a Blockchain Rewards System, Report

China’s military could implement a blockchain rewards system to manage personnel data and incentivize its workforce, the Global Times reported on Nov. 18. Citing a People’s Liberation Army (PLA) Daily report, the Global Times underscores that the blockchain system would likely not involve financial incentives, but would be used as an innovation strategy for the military’s management. Non-financial incentives The PLA is reportedly interested in using an immutable and secure blockchain-based system to manage personnel data; spanning records such as military training, career path, missions undertaken and performance reports.  The…

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Blockchain 

Abra Adding 60 New Cryptocurrencies in Consumer Adoption Push: Report

California-based cryptocurrency wallet and investment service Abra is adding a total of 60 new cryptocurrencies to its platform, reports suggest. According to CoinDesk on Nov. 12, the increasingly widespread payment gateway is planning to more than treble its existing crypto offerings for international users from 30 to 90 tokens. Four Stablecoins to debut on Abra platform Four stablecoins including Tether (USDT), Paxos Standard (PAX), TrueUSD (TUSD) and Dai (DAI) will reportedly be among the new tokens. Restrictions remain for United States residents, who are unable to hold Qtum (QTUM), Bitcoin…

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Bitcoin 

Canada’s Largest Bank Mulls Crypto Exchange After Bitcoin Ban — Report

A Canadian bank, which banned its clients from buying Bitcoin (BTC), could now become the first in the country to launch a cryptocurrency exchange.  As innovation economy news outlet The Logic reported on Nov. 11, the Royal Bank of Canada (RBC) is now rumored to be considering the plans. RBC reportedly planning multifunctional exchange RBC is the largest bank in Canada by market capitalization, with $660 billion in assets under management.  According to The Logic, the bank is entertaining the possibility for the exchange to function both for investments and…

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Blockchain 

Malaysia to Impose Cash Transaction Limit of $6K in 2020: Report

Malaysia is planning to impose a $6,000 limit on cash transactions in 2020, according to a deputy governor at the country’s central bank. The new restrictions aim to prevent the use of cash in illicit activities, and won’t affect regulated financial institutions or other entities transacting for humanitarian aid purposes. The average Malaysian household spends $1,900 per month Abdul Rasheed, the deputy governor in question who works for Bank Negara Malaysia (BNM), claimed that the measures will apply to all transactions involving physical cash, including payments for goods and services,…

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Ethereum 

Ethereum 2.0 Validators to Earn up to 10% Annually for Staking: Report

Ethereum 2.0 validators can expect to earn from 4.6% to 10.3% as rewards for staking on an annual basis, a senior ConsenSys exec says. 32 ETH required to become a validator Collin Myers, head of global product strategy at blockchain firm ConsenSys, reportedly claimed that in order to become a validator on the Ethereum 2.0, one is required to maintain a minimum amount of 32 Ether (ETH), which is worth $5,760 at press time. Myers revealed the news at a recent blockchain event Devcon 5, Coindesk reports Oct. 25. Ethereum…

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Blockchain 

G7 Task Force Releases Full Report on Impact of Global Stablecoins

A G7 task force reports that stablecoins, such as Facebook’s Libra, present significant risk to the global financial system but also have potential in the field of payments. Doubling down on regulations On Oct. 18, in a report requested by the G7 Finance Ministers and central bank Governors, the relevant task force confirmed that the group of the seven wealthiest nations would not allow any global stablecoin to launch without adequately addressing the related challenges and risks. Cointelegraph reported on an unpublished draft of the same report on Oct. 14.…

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Ethereum 

Crypto Markets Report Mild Gains, While Binance Coin Jumps 7%

Sunday, Oct. 13 — Bitcoin (BTC) continues to bounce around the $8,400 price mark, while most of the top-20 coins by market capitalization report slight gains. Market visualization. Source: Coin360 Cryptocurrency markets are seeing mild gains, generally within a tight range of 1–2%. Binance Coin (BNB), the number eight coin by market capitalization, is the only top-20 coin that that stands out and is surging more than 7.5%.  Bitcoin has been bouncing between $8,300 and $8,400 for most of the day. The world’s most popular cryptocurrency traded from an intraday low…

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Bitcoin 

Bakkt’s Bitcoin Futures Trading Volume Soars 796% in One Day: Report

The trading volume of Bitcoin (BTC) futures on the Intercontinental Exchange’s (ICE) Bakkt platform reportedly soared to 224 contracts on Oct. 9 — 796% higher than the previous day. According to the tracking data compiled by Twitter account Bakkt Volume Bot (@BakktBot) — which is not affiliated with Bakkt but rather with Dutch journalist and cryptocurrency author Gert-Jan Lasterie — the 224 contracts represent an apparent all-time-high for the platform. A turnaround after tepid launch? Graph showing reported increase in daily traded volume for Bakkt Bitcoin Monthly Futures. Source: @BakktBot…

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Blockchain 

Hyundai’s Blockchain Arm to Set Up $10M Fund for Mainnet Launch: Report

Hdac Technology, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group, plans to set up a $10 million blockchain investment fund in 2019. Hdac testnet to launch in November 2019 Hdac will spend the funds to launch its mainnet as well as to develop decentralized applications, support new industry startups and create an ecosystem with a “cryptocurrency compensation system,” Korean outlet The Financial News reported on Oct. 6. Hdac, issuer of Hyundai token (HDAC), is planning to release its mainnet in Q1 2020, the report notes. As…

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Blockchain 

Algorand’s Venture Arm Loses up to $2M in Hot Wallet Breach: Report

Algo Capital, an investment arm of United States-based blockchain firm Algorand, has lost roughly $1–2 million in Tether (USDT) stablecoins and Algorand (ALGO) tokens after its CTO Pablo Yabo’s mobile phone was compromised. The breach allowed hackers to gain access to Yabo-managed Algo hot wallet, a source familiar with the matter told Coindesk on Oct. 5. The total amount of damages was reported in an email by the company’s CEO David Garcia. He confirmed the security breach and claimed that the firm passed the details of the incident to its…

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