Is SardineCoin Real? The Sardines Are, At Least

It smelled fishy from the start. On Wednesday, MY Sardines, a Luxembourg-based company, announced its intention to launch a cryptocurrency backed by –  are you sitting? – vintage sardines.  Between the novel collateral, a white paper thin on details (who is the unnamed external auditor for the stock of sardines?) and an April 1 (April Fools’ Day) end date for the sale, crypto commentators suspected SardineCoin was an elaborate prank. This much is clear: It’s not a fluke. CoinDesk found the MY Sardines booth at CES 2020, the long-running consumer…

MakerDAO Pitches DeFi to the Masses at CES 2020

LAS VEGAS – There’s a “digital money” section on the show floor of the Consumer Electronics Show (CES) in Las Vegas, but MakerDAO is the only digital money with a booth there. There are a couple of other crypto wallets, security firms and a bitcoin ATM company, but ethereum’s favorite stablecoin is the only cryptocurrency directly represented.  MakerDAO Foundation Head of Business Development Gregory DiPrisco had a straightforward answer for why the organization chose to take a space in Vegas. “It’s about opening doors to companies that otherwise we’d have…

Crypto Derivatives Exchange Leaves EU for Panama, Expands KYC

Crypto derivatives exchange Deribit is leaving the European Union for Panama to avoid new AML rules while changing its Know Your Customer (KYC) requirements.  Deribit B.V., the current Netherlands-based company responsible for the Deribit.com exchange, will officially delegate the trading platform to its daughter company, DRB Panama Inc. on Feb. 10, 2020, a Jan. 9 statement from Deribit said.  Changing regulatory winds  Deribit has decided to transfer to Panama based on the stated likelihood of tightening regulatory demands in the Netherlands, resulting from similar demands seen across the EU, the…

Telecom Giant Telefonica Pilots Blockchain Access on 8,000 Spanish Firms

Spanish telecommunications giant Telefonica has reportedly partnered with the local Association of Science and Technology Parks (APTE) to grant access to its blockchain to about 8,000 firms in Spain. According to a report published by telecom news outlet TotalTele on Jan. 9, Telefonica will deploy nodes of its Hyperledger-based blockchain at APTE’s 52 sites. During the three-month-long testing period, firms will be encouraged to develop applications on the network and allowed to experiment with their own tokens. Telefonica partnered with IT giant IBM in November 2018 to apply blockchain technology…

US SEC Traces $3.5M Back To Alleged Fraudster Behind Fake Crypto Mine

Recent charges from the U.S. Securities and Exchange Commission (SEC) tied three parties to $3.5 million in fraudulent activities.  The SEC has pressed charges of fraud against Donald Blakstad, crypto mining outfit Energy Sources International Corporation (ESI) and vehicle part company Xact Holdings Corporation, according to a Jan. 8 document from the commission.  The document described ESI as “a purported cryptocurrency mining operation.” Millions swindled Blakstad allegedly gathered $3.54 million from at least 14 different investors via fraudulent offerings, the document detailed.  Blakstad touted possession of three businesses, vending supposed…

KPMG Leader Predicts IoT and Blockchain Will Be Used To Manage Climate Change

Accounting giant KPMG’s US blockchain lead, Arun Ghosh, predicts that blockchain, combined with the Internet of Things (IoT) will be used to manage climate change in 2020.  IoT is a term for systems of interrelated devices that are embedded with sensors, software and network connectivity that enables them to collect and exchange data. According to a list of 6 blockchain predictions KPMG shared with Cointelegraph, Ghosh noted: “The convergence of these technologies is enabling organizations to accelerate environmental governance, with blockchain’s chain of custody being deployed as a central component…

Facebook’s Zuckerberg Highlights Digital Commerce, But Not Libra, in 2030 Vision

Mark Zuckerberg’s new 10-year vision says a lot about Facebook’s plan for financial services – and nothing whatsoever about Libra.  Unveiling a vision for 2030, the Facebook CEO unveiled a laundry list of decade’s-end aims for his social media goliath, including an extensive “opportunity” for Facebook to “decentralize” finance and business. “Over the next decade, we hope to build the commerce and payments tools so that every small business has easy access to the same technology that previously only big companies have had,” Zuckerberg said in the post. That vision…

Oman’s Largest Port Joins IBM’s Blockchain Shipping Platform TradeLens

On Jan. 8 the Times of Oman reported that the Port of Salalah joined TradeLens, the blockchain-based supply chain platform launched in 2018 by shipping giant Maersk and IBM.  An IBM spokesperson told Cointelegraph the addition of the Port of Salalah puts TradeLens at more than 90 ports and terminals, with over 150 participants in total on the platform.  According to the Times, The Port of Salalah is Oman’s largest port, handling a record number of 4 million shipping containers per year. The port reportedly joins TradeLens as part of…

Dutch Derivatives Exchange Deribit to Move to Crypto-Friendly Panama

Deribit is moving to warmer waters, citing regulatory concerns. Announced Thursday, the Amsterdam-based crypto derivatives exchange will operate out of Panama as DRB Panama Inc., a wholly owned subsidiary of current platform Deribit B.V., beginning Feb. 10.  The company claimed the Netherlands’ presumed adoption of “very strict” anti-money laundering (AML) regulations applied to cryptocurrency firms spurred the trans-Atlantic voyage. “If Deribit falls under these new regulations, this would mean that we have to demand an extensive amount of information from our current and future customers,” the exchange wrote in a…

Narrative Watch: Why 2020 Will Be the Year of the DAO

The aftershock of the 2016 hack of The DAO meant decentralized autonomous organizations (DAOs) weren’t nearly as hyped as ICOs and, later, some other aspects of the Web3 movement. In 2019, however, DAOs came roaring back and start 2020 with the wind in their sails.  In this episode, we look at the tale of the tape for DAOs in 2019 – what people thought would happen and what actually did happen, including the launch of MolochDAO, MetaCartel, ethereum’s MarketingDAO and more than 1,000 DAOs on Aragon. We also hear from…