Crypto News 

Blockchain Must Be Applied to Real World Problems to Become Mainstream

“The Blockchain Must Work Outside Finance Such an app in this space could potentially bring newfound attention and mainstream legitimacy to blockchain technology” writes Nick Marinoff for livebitcoinnews.com. One of the major problems – per the recent source – states that ConsenSys was spending over $100 million a year funding new blockchain and crypto-related startups and venture funds.The blockchain hype is being described as “dead,” according to one source.Will the blockchain ever become the staple technology of the globe?. The source compares the blockchain to the internet and says that…

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Bitcoin Payment Processor Closes Seed Investment Round Backed by Tim Draper

“Bitcoin (BTC) payment processor OpenNode has completed a seed investment round with investment from American venture capitalist Tim Draper, according to an announcement on Dec. 18” writes Ana Alexandre for cointelegraph.com. Per the announcement, OpenNode has raised funds from Draper and early stage venture capital firm Draper Associates.”If we combine Bitcoin, blockchain with smart contracts and artificial intelligence, we could create the perfect bureaucracy,” he said.Yesterday Cointelegraph also reported about the launch of Tagomi Holdings Inc., an electronic brokerage startup backed by PayPal co-founder Peter Thiel’s venture capital firm Founders…

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Hedge funds to start-ups, industry feels crypto pain

“Despite the downturn in cryptocurrency prices, Stover is still expecting 12 new crypto funds to launch within the next couple of months” writes unknown author for cnbc.com. So that would be 6 percent of our crypto funds,” Stover told CNBC in an email.Other funds like Morgan Creek Digital, which has $1 billion in assets under management, see the drop in cryptocurrency prices as an opportunity.Stover pointed out that most of the funds that are closing had very little capital and posted poor performance this year.Fast forward 12 months, and bitcoin…

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Gaming Giant Atari to Launch ‘Blockchain Versions’ of Two Popular Games

“Major gaming company Atari has entered into a license agreement with blockchain startup Animoca Brands to make blockchain versions of two popular mobile games” writes Marie Huillet for cointelegraph.com. Based on the terms of the license agreement — which extends through to March 31, 2022 —  Animoca’s blockchain versions of both Atari games will also feature integrated non-fungible tokens (NFT).Atari — famous for being the developer of video games such as Tetris and Pac Man — says the rights agreement allows Animoca to produce and publish blockchain versions of Atari…

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Russian Region Conducts Blockchain Election With 40K Participants

“Saratov Oblast, a region in Southern Russia, has conducted a reportedly successful blockchain election with 40,000 participants, according to a press release shared with Cointelegraph Dec. 18” writes Ana Berman for cointelegraph.com. On Dec. 12, participants voted to elect members of the local Youth Parliament via the blockchain-driven electronic polling system Polys, developed by Kaspersky Lab in 2017.According to the press release, the decentralized network was deployed at 110 polling stations and the election lasted seven hours. Switzerland implemented blockchain-based voting this summer, while the United States state of West…

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Crypto News 

Korean Gov’t Pilots Blockchain for Logistics Innovation in Country’s Largest Port

“If the shipping logistics blockchain pilot at Busan will prove successful, both ministries plan to expand the initiative across other ports nationwide” writes Marie Huillet for cointelegraph.com. Two South Korean government ministries have launched a blockchain pilot for port logistics innovation, according to a press release from the country’s Ministry of Science, ICT and Future Planning (MSIT), published Dec. 18.MSIT, together with the Ministry of Oceans and Fisheries, are reportedly testing whether the technology can make Korea’s container shipping industry more efficient.The initiative aims to ascertain whether leveraging blockchain technology…

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Crypto News 

New Financial Projects Gain Momentum in Period of Political Uncertainty

“This is because blockchain technology is a public record, it is transparent, and it is immutable” reports financemagnates.com. Blockchain technology allows us to tackle humanitarian crises and to achieve social impact.The project needs builders, scientists and experts in identity, privacy, and financial governance, as well as philanthropists and ambassadors. Source: financemagnates.com Share This:

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Better Than Corporations: Layoffs in Crypto Are On the Rise, Still Lower Than in Other Industries

“Over the past three years, jobs relating to blockchain, Bitcoin and cryptocurrency have been on the rise on LinkedIn” writes Gareth Jenkinson for cointelegraph.com. Citigroup, Sears, Roebuck & Co, and the U.S. Army each cut over 50,000 jobs at different stages, but these job cuts put most others in perspective.As previously mentioned, one can draw similar parallels between the rise of internet companies in the 1990s and the rise of cryptocurrency- and blockchain-focused companies from 2010 onward. However, those that survived ended up laying the foundation for the cryptocurrency and…

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Advisory Council of UAE Banks Federation Considers Adoption of Blockchain in Banks

“The Advisory Council of the United Arab Emirates Banks Federation (UBF) discussed applying blockchain in its member banks, according to the Dubai-based English language newspaper Gulf News on Dec. 17” writes Helen Partz for cointelegraph.com. The Advisory Council of UBF, a non-profit organization representing 50 member banks in the country, considered using blockchain to improve Know Your Customer (KYC) processes at entrant banks.At the meeting, participants considered strategies to attract foreign investments and build a necessary infrastructure by using AI and blockchain.The study has outlined a number of blockchain applications…

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German State Bank KfW Tests Blockchain App for Public Finance Management in Burkina Faso

“The application will allow users to store and approve all the contracts in the sector using blockchain in real-time mode” writes Ana Berman for cointelegraph.com. Germany’s major state-owned bank KfW and Burkina Faso’s Ministry of Finance will test a blockchain application for use in public financial management, according to a statement posted Monday, Dec. 17.The bank expects it could help reduce lengthy manual processes and ensure that funds are used properly.According to KfW, the bank would normally open an office in a partnering country to deal with risks. And in…

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