Blockchain company Sun Exchange has raised $1.6 million in new seed funding from a group of early-stage investors and startup accelerators Source:..
A new report suggests that securities regulators in North America are increasing their oversight of the blockchain funding model. Source:..
UBS investment bank is downbeat about cryptocurrency’s future despite its support of Blockchain. Swiss investment bank UBS says Bitcoin is in a “speculative bubble” and needs government permission not to fail. In a whitepaper published a week ago, UBS, which is at the same time a major proponent of Blockchain technology, said demand for any cryptocurrency hinges on governments accepting it, of all things, for tax payments. The paper reads: “If governments refuse to accept cryptocurrencies for tax payments, the single most important transaction in an economy, that significantly reduces demand for cryptocurrencies. Governments are highly unlikely to ever take this step.” The tone of the bank is somewhat ironic given that its home country of Switzerland does in fact allow residents to pay municipal taxes with Bitcoin. The pioneering..
Alastria, formerly known as Red Lyra, is a Spanish blockchain consortium that has grown to more than 70 members since its launch in May. Source:..
BANKEX Developed Plasma-like Protocol in 36 hours at World’s Largest Ethereum Hackathon in Waterloo Mentored by Vitalik Buterin
ETHWaterloo, the world’s largest Ethereum hackathon, concluded this weekend, on October 14th and 15th, in Waterloo, Canada. It turned out extremely informative and fascinating, and it demonstrated how much Ethereum has grown. Consider these facts: there are 50 thousand Ethereum developers in the world, 63% of central banks work with the technology, and, in 4 years of Ethereum, its cap is $30B. Ethereum’s global presence is undeniable. More than 400 developers participated in the hackathon. BANKEX team was among the chosen ones. After the 36-hour hackathon, the team of developers presented Plasma-like protocol. In a short period, they released a platform for smart asset creation and exchange. It tackles divisibility of assets, as the Plasma technology does not currently allow for money transactions. BANKEX Plasma-like protocol solves the pressing problem, optimizing the consumption of gas. The unprecedented solution by BANKEX,..
Day one of Swift's annual Sibos conference found the interbank messaging platform under pressure from the rising tide of cryptocurrencies. Source:..
St. Vincent, and the Grenadines-based FOREX trading platform Evolve Markets, has announced the launch of ‘The Box,’ a new, advanced FX and metals matching engine. The new matching engine will provide the platform with higher levels of liquidity and improved execution speeds. Evolve markets, already known for its ultra-fast transaction speeds, looks to maintain its reputation in this area with the upgrade. Since The Box was implemented, the platform has witnessed trade executions with multiple legs of depth filling VWAP occurring in as little as 5 to 10 milliseconds, via MetaTrader 4 and 5. The platform’s compatibility with MetaTrader offers its users access to accounts from Windows, Mac or Linux-based machines. This fusion of software also allows Evolve Markets’ users to trade freely on both web browsers and mobile devices. Liquidity was the first improvement in mind when Evolve Markets deployed The Box, as it looks to..
IBM has been settling real cross-border payments in the South Pacific on a blockchain using Stellar's Lumen cryptocurrency. Source:..
Russian Bitcoin ban makes sense with the announcement of the CryptoRuble. Russian President Vladimir Putin has officially stated that Russia will issue its own ‘CryptoRuble’ at a closed door meeting in Moscow, according to local news sources. The news broke through Minister of Communications Nikolay Nikiforov. According to the official, the state issued cryptocurrency cannot be mined and will be issued and controlled and maintained only by the authorities. The CryptoRubles can be exchanged for regular Rubles at any time, though if the holder is unable to explain where the CryptoRubles came from, a 13 percent tax will be levied. The same tax will be applied to any earned difference between the price of the purchase of the token and the price of the sale. Nikiforov said: “I confidently declare that we run CryptoRuble for one simple reason: if we do not, then after 2 months..
Ethereum's Geth has re-released its Byzantium hard fork software after spotting a bug. But low adoption is concerning with the fork so close. Source:..
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- Blockchain Startup Sun Exchange Raises $1.6 Million in New Seed Funding October 19, 2017
- Regional Regulators in North America Are 'Closely Watching' ICOs October 18, 2017
- UBS: Crypto is Doomed to Low Demand… Unless You Pay Taxes With It October 18, 2017