Can Libra and Other Crypto Find a Ground to Navigate Regulation?

Bitcoin (BTC) and cryptocurrencies are causing some confusion for regulators globally. Designed usually as peer-to-peer payment platforms, cryptocurrencies seek to improve trust, security and privacy by significantly reducing or eliminating third parties. However, by connecting users directly, cryptocurrencies make regulatory oversight far more complex.  The regulatory control that most governments seek is generally related to money laundering and illegal activity. While cryptocurrency creators have no desire to foster such practices, many nevertheless hope to move away from the sorts of regulatory controls that are seen as centralized, less cost-efficient and…

US Court Orders Dark Web Drug Dealer to Forfeit $150K in Bitcoin

A United States court has ordered Christopher Bania, who recently pleaded guilty to drug distribution, to give up almost 17 Bitcoin (BTC) — worth roughly $150,000 at press time. The plea, order and sentencing Per the Oct. 19 order from a court in Wisconsin, Bania will need to forfeit “Approximately 16.91880054 Bitcoin seized from Bania’s ‘Local Bitcoins’ account.” Though worth roughly $153,100 as of publication, it is much less than the 124 BTC that the court is returning to the defendant, alongside various other cryptocurrencies and over $50,000 in cash…

How Blockchain Can Help Doctors Take Better Care of You

The current health care system — from its arduous processes to its lack of coherency — prevents doctors from providing patients with the best care and negatively impacts the care they already deliver. Medical professionals are burdened with attempting to coordinate health care in a system that simply isn’t designed for it. Around the world, physicians and their staff struggle to coordinate care through antiquated methods — frequently by face-to-face, fax, phone or courier — that may lead to dangerous miscommunication.  The situation in the United States serves as an…

60% Tell Vitalik Buterin ‘No’ to Ethereum Reversing Transactions

Ethereum co-founder Vitalik Buterin has sparked controversy among cryptocurrency users after suggesting developers could reverse transactions.  Buterin’s community feedback falls flat In a Twitter survey on Oct. 26, Buterin quizzed followers about their opinion of reversing chain activity in the event of a major hack of an exchange or similar entity.  “Suppose a popular smart contract wallet that a large portion of the ETH community uses gets hacked. This could be reverted by reverting all chain activity since the hack and doing a DAO-style HF to recover the funds,” he…

How Can Blockchain Disrupt Supply Chains in the Fashion Industry?

When receiving new shirts you’d bought online, or bought some jeans from one of the fashion stores on your street, the question that may have come to mind then was, how did these items get to be in my hands? The answer is supply chains.  Supply chains in the fashion industry organize people, activities and information to move fashion products from the producer to the consumer. Although supply chains have undergone a revolution since the advent of the internet and artificial intelligence, that revolution might be incomplete without the introduction…

Unknown Miner Controls 50% of BCH Hash Rate for 24 Hours

An unknown Bitcoin Cash (BCH) miner was apparently in control of more than 50% of the token’s hash rate for 24 hours. The miner seemed to mine 73 blocks from 10 am Oct. 24 to 10 am Oct. 25, to which Twitter user Notgrubles responded that this is the reason why “BCH is a security risk and a liability,” while asking to de-list the coin. By controlling 50% of BCH hash rate, the unknown miner, or potentially miners, are not far off from controlling the entire network and the ability…

Blockchain Registers for Recording Ownership Rights Around the World

The use of blockchain to cement ownership rights for real estate and business has been ongoing since 2016, when the technology was first used to organize new forms of registries and registration of transactions. The blocks are used to record information onto the blockchain system, which can then certify the process of transfer of ownership of the property or entity.  This process excludes intermediaries that collect commissions in the process of, for example, conducting real estate transactions while also lowering the risk of fraud. Specialized blockchain platforms can prevent data…

What Will Move Crypto Into the Institutional Realm?

Facebook recently made its entry into the world of institutional blockchain and cryptocurrency with the announcement of Libra. It garnered so much attention that lawmakers in the United States are holding hearings to review the project. Walmart has been flirting with crypto and blockchain for years. At the time of writing, the top crypto exchange handles a volume of around $50 billion, and Bitcoin (BTC) is holding steady around $8,000. This is clearly a new “mainstreaming” of crypto to the masses, but a growing number of major banks, hedge funds…

The Curious Case of AT&T, Seth Shapiro’s SIM Card and a Stolen $1.8M

Over the past week, the global crypto community bore witness to a unique case wherein California resident and blockchain entrepreneur Seth Shapiro filed a lawsuit against American telecom giant AT&T — alleging that a couple of the firm’s employees had perpetrated a nefarious SIM-swap scheme that resulted in the former losing $1.8 million in various crypto assets. Shapiro, who is a two-time Emmy Award-winner, as well as an author and adjunct professor at the University of Southern California School of Cinematic Arts, filed the aforementioned lawsuit against AT&T on Oct.…

China’s Congress Passes Cryptography Law, Effective Jan. 1, 2020

The Standing Committee of the 13th National People’s Congress in China passed a cryptography law on Saturday that will be effective on January 1, 2020, according to a Chinese media report. The announcement came one day after Chinese President Xi Jinping called on the country to seize opportunities in blockchain technology. While China still bans cryptocurrency trading and its national digital currency is not yet hatched, cryptography, as an integral underpinning of blockchain technology, could be key to the country’s push to be more competitive in the blockchain space. The…