Bitcoin ‘Not Functional as a Currency’

Square and Twitter CEO Jack Dorsey has said Bitcoin (BTC) will continue to be adopted more widely, but it is still too early to consider it a currency. Make Bitcoin more usable and accessible as a currency On Sept. 4, the outspoken Bitcoin advocate told the Australian Financial Review that he is convinced the No. 1 cryptocurrency will continue to be adopted more widely. However, Dorsey added: “It’s not functional as a currency. The peaks and troughs are like an investment asset and are equivalent to gold. What we need to do…

Blockchain Dev’s Platform Now Available on Oracle Cloud Marketplace

Fintech blockchain developer Hydrogen has announced that its platform is now available on software giant Oracle’s Cloud Marketplace.  Hydrogen now available to millions On Sept. 4, the startup announced that the listing on Oracle Cloud Infrastructure will make its application programming interface available to millions of Oracle customers. Hydrogen offers tools to build applications for banking, savings and insurance, among other aspects of digital finance. Mike Kane, co-founder and CEO of Hydrogen, said: “Hydrogen is being used by financial institutions big and small to quickly build consumer facing fintech applications.”…

Elliptic, A Crypto Forensic Startup, Raises $23 Million USD

Elliptic, a British startup firm aimed at tracing suspicious crypto activity, has raised $23 million USD in a funding round led by SBI Holdings. Elliptic to Expand into Asian Markets The Series B funding round was led by Japanese financial institution SBI Holdings and will enable Elliptic to continue expansion into Asian markets where it has recently opened an office in Singapore and will open another in Japan this week. Elliptic CEO and founder James Smith cited Asia as a highly attractive market for the company due to its prominent…

Venture Capitalist Fred Wilson Revises His Bullish Opinion on Ether

Fred Wilson, a venture capitalist and co-founder of venture capital firm Union Square Ventures, has revised his bullish opinion on Ether (ETH). Back in 2017, Wilson suggested that the market capitalization of Ether will bypass the market capitalization of Bitcoin (BTC) by the end of the year, and eventually surpass the value of Bitcoin. However, in a Sept. 4 blog post, Wilson noted that the coin has fallen short of this, and that Ether’s underlying Ethereum network is experiencing some problems, saying: “Ethereum, as many of you know, confounds me.…

German Politicians Want to Fight Climate Change With Blockchain Tech

The Free Democratic Party (FDP) in Germany proposes to issue a new cryptocurrency called Arbil to anyone who removes CO2 or other greenhouse gases from the atmosphere. Get paid to withdraw CO2 from the atmosphere In a report by local news daily Welt on Sept. 2, the FDP recognizes that it is no longer enough to focus only on putting less CO2 into the atmosphere. It states that, if the world wants to slow down global warming, it will also need to bring back greenhouse gases that have already been…

Bahamian Blockchain Company Raises Crypto for Hurricane Dorian Victims

PO8, a blockchain company headquartered in the Bahamas, is asking the crypto and blockchain communities to help them bring relief to the victims of Hurricane Dorian. The firm made its appeal in a blog post on Sept. 2. Devastation in the Bahamas Hurricane Dorian brought devastation to Bahamian islands on Monday and Tuesday. Satellite images show the region has suffered heavy flooding, with more than 60% of Grand Bahama Island submerged.  Call to help Dorian victims PO8 has witnessed the devastation firsthand and is asking the crypto and blockchain communities to…

Mastercard Joins Blockchain Software Firm R3’s Marco Polo Network

American financial services corporation Mastercard has joined blockchain software firm R3’s Corda-powered Marco Polo blockchain network for trade finance. In a press release published on Sept. 3, Mastercard revealed its participation in the Marco Polo Network project, a collaboration of R3 and Irish tech firm TradeIX that launched in 2017. The initiative provides a multi-asset class platform that offers broker dealer services and multi-currency transactions, among other related services. The company’s Mastercard Track platform for business-to-business global trade has collaborated with Marco Polo in a bid to facilitate Marco Polo’s…

Crypto Banking Regulation Around the World, First Signs of Growth

Banking is often seen as the antithesis of Bitcoin (BTC), the very industry the nascent protocol looks to defuse and disrupt. Ironically, many banks are desperately in need of the attributes and facilities afforded by cryptocurrencies — specifically blockchain, their underlying technology. Perhaps then, it’s not too surprising that more and more cryptocurrency banks are springing up, offering an alternative to tired legacy systems and allowing room for an emerging asset class. However, some significant hurdles remain for these emerging institutions. Regulatory uncertainties are rife within the world of cryptocurrency…

Burundi Bans Cryptocurrency Trading Due to Lack of User Protection

The Republic of Burundi in central Africa has banned the trading digital currencies in the country due to associated risks. As Bloomberg reported on Sept. 4, some Burundian citizens urged the government to take action regarding cryptocurrency trading after they lost money while dealing with virtual currencies. The government subsequently banned crypto trading explaining that it cannot provide appropriate user protection. Commenting on the issue, Alfred Nyobewumusi, a director at the central bank’s micro-finance department, said, “Strong measures could be taken against all those who will not respect this decision.”…