Archive | November, 2016

UAE government to hold virtual hackathon to drive blockchain innovation

November 30th, 2016 by

The government of the United Arab Emirates is organizing a virtual blockchain hackathon, offering $140,000 in prizes. Organized by AngelHack and featuring technical support from ethereum startup ConsenSys, the Blockchain Virtual GovHack is aimed at spotlighting innovations that could reshape how local and national governance can be enhanced. The hackathon dovetails with the World Government […]

Hackers crack Liechtenstein based Valartis Bank, ask for bitcoin ransom

November 30th, 2016 by

Hackers have cracked Valartis, a Chinese-owned Liechtenstein bank, and are allegedly threatening to release account details to financial authorities and the media unless ransoms of up to ten percent (in bitcoin) are paid by the 7th December. Unknown hackers found their way into the Liechtenstein’s e-banking system this week and managed to obtain a ton […]

European Securities and Markets Authority will soon have the power to ban blockchain tech

November 29th, 2016 by

The European Securities and Markets Authority (ESMA) will soon have the power to ban blockchain or distributed ledger technology (DLT). In a recent speech, given by Patrick Armstrong, Senior Risk Analysis Officer, Innovation and Products Team at Blockchain Technology: The Future for Financial Services Infrastructure, in London England – it was made public that the […]

Hong Kong politicians accept bitcoin to fight against China’s communist-style of ruling

November 28th, 2016 by

Hong Kong politicians Leung Chung-Hang and Yau Wai-Ching are accepting bitcoin donations in order to continue their fight for democracy. Yau and Leung are advocates who have called for a ‘complete split‘ away from mainland China. Prior to taking their seats in parliament, the duo trotted out flags that stated “Hong Kong is not China” […]

Mitsui Sumitomo Insurance to offer coverage for bitcoin exchanges

November 25th, 2016 by

Mitsui Sumitomo Insurance announced it is developing an insurance product in collaboration with Japanese bitcoin exchange operator bitFlyer, which will cover losses and damages at bitcoin exchanges. The total coverage offered by Mitsui Sumitomo ranges from 10 million yen to 1 billion yen. It will factor in damages and losses caused by hacking incidents, unauthorized […]

Senegal to introduce blockchain-based national digital currency

November 25th, 2016 by

Senegal, a country on Africa’s west coast, plans to introduce a national digital currency. Named eCFA, the digital currecy will be blockchain based and will be legal tender just as their current currency, CFA Franc, is. Senegal’s eCFA is a result of a collaboration by Banque Régionale de Marchés (BRM) and eCurrency Mint Limited. BRM […]

Bitfury adds Brian Forde to its Advisory Board

November 24th, 2016 by

The Bitfury Group announced that it has added highly regarded bitcoin and blockchain expert Brian Forde to its Advisory Board. “We are thrilled to welcome Brian and his diverse range of experience to our Advisory Board. Brian has dedicated his career to improving our world and harnessing emerging technologies to creatively solve problems. He has […]

Congressional Committee calls for CFTC to provide clarity on bitcoin

November 24th, 2016 by

The Agriculture Committee of the US House of Representatives has called on the Commodity Futures Trading Commission (CFTC) to focus on digital currency regulation as President Barack Obama’s term in office winds to a close. In the letter, dated November 18, K. Michael Conaway, Chairman of the Congressional Committee said: “Last week, the American people […]

Australian Accounting Standards Board pushes for bitcoin accounting standards

November 23rd, 2016 by

The Australian Accounting Standards Board (AASB), a government agency tasked with overseeing the country’s reporting standards, calls for a new standard to deal with digital currencies such as bitcoin. The AASB has published a new position paper ahead of a December meeting of members from the International Accounting Standards Board (IASB). In sum, the paper […]

Sweden’s central bank decides on issuing national digital currency

November 23rd, 2016 by

Sweden’s central bank, Sveriges Riksbank, aims to decide on whether to issue a digital currency called “ekrona” within two years. With the amount of notes and coins in circulation in the country reportedly falling by 40% since 2009, officials say urgent action is needed. “Will we have e-krona in an e-wallet in the future, as […]