South Korean University Announces New Blockchain Campus

South Korea’s Suseong University reached a deal on May 22 with the Korea Artificial Intelligence Association, or KORAIA, to create a blockchain and AI campus in Daegu. According to the announcement published by local media outlet Money Today, the Daegu-based university plans to teach about AI, big data, and cloud-based technology in the brand-new department. They intend to begin accepting students by 2021. COVID-19 crisis as a potential for blockchain adoption growing Kim Kun-woo, director of the Planning and Coordination Division of the university, praised the announcement. He stated that…

China Strikes Down 10% of Global BTC Hashrate, Who Will Pick Up The Slack?

The government of China’s Sichuan province moves to stamp out Bitcoin (BTC) mining activity, citing that growing cryptocurrency prices have led to the escalation of illegal activity under the guise of mining. Sichuan — 10% of the global hashrate According to estimates from Cambridge University, Sichuan is responsible for almost 10% of the global hashrate. In fact, this single Chinese province mines more Bitcoins than the entirety of the U.S. or Russia. China: Bitcoin Mining Map. Source: Cambridge University. Apparently, Sichuan was previously trying to attract the miners in order…

Where Are the Bitcoin Pizza Coins Now?

Today marks the 10th anniversary of Bitcoin’s first official commercial purchase. On May 22, 2010, programmer Laszlo Hanyecz completed the first documented commercial Bitcoin purchase, paying 10,000 for two Papa John’s pizzas. Valued at $41 at the time, current market pricing today gives the purchase a $92.5 million price tag. One might logically wonder what happened to the 10,000 Bitcoin (BTC) used for the purchase of two pizzas.  “Over the years the funds have moved across many addresses,” Grant Blaisdell, co-founder and CMO of blockchain analytics company Coinfirm, told Cointelegraph in…

African P2P Volume Beats Out Latin America for First Time

African peer-to-peer, or P2P, Bitcoin (BTC) trading volumes have continued to increase, with the continent posting its third-consecutive all-time high for trade activity. Africa’s surging volumes come amid a plateauing in global P2P trade, with Latin America, Asia Pacific, and Western Europe posting significant declines in post-halving volume. As such, this past week saw African P2P trade overtake Latin America to rank as the second-strongest region by weekly volume for the first week on record. Regional P2P weekly BTC trade volume: UsefulTulips. Africa’s P2P markets see prolonged volume spike More…

Wyoming’s Congressional Blockchain Committee Holds First Meeting

On May 22, Wyoming’s Select Committee on Blockchain, Financial Technology and Digital Innovation technology convened in full for the first time, albeit virtually. Initially announced on May 17, the new select committee evolved from the previous Blockchain Task Force. Task force to select committee: What has changed? In today’s meeting, Chairman Chris Rothfuss commented on the committee’s new powers: “This is a select committee that is able to sponsor its own legislation. In the past, it was a task force that was not able to.” However, like a task force,…

New Bill in Ukraine to Finally Let Crypto Firms Open Bank Accounts

Ukraine is getting closer to providing a legal status for cryptocurrencies like Bitcoin (BTC) with a new draft bill published on Monday. On May 18, the Ministry of Digital Transformation of Ukraine published a new draft bill “On Virtual Assets” that aims to determine the legal status of crypto assets, rule of their circulation and issuance in the country. The current version of the bill is not final and is open for discussion by the crypto community until June 5, 2020. Crypto industry in Ukraine is still in “grey zone”…

CBDC Threatens Hegemony of US Dollar

JPMorgan believes the central bank digital currencies, or CBDC, could pose a threat to the global hegemony of the US dollar. According to a report covered by Bloomberg, the bank’s chief U.S. economist asserted that “[t]here is no country with more to lose from the disruptive potential of digital currency than the United States.” “This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages,” the report added. Blockchain undermines US dominance over…

Layer1 Stabilizes Texas Grids With ‘Bitcoin Batteries’

U.S.-based Bitcoin (BTC) mining datacenter operator Layer1 Technologies has deployed its mining containers as “Bitcoin Batteries” comprising large-scale energy storage systems. Layer1 asserts that its bitcoin batteries will help stabilize Texas’ seasonally volatile energy market by releasing electricity to meet demand. “By centralizing the consumption and release of multiple megawatts per data center container, Layer1’s Bitcoin Batteries stabilize national and local energy grids that frequently suffer from the demand shacks,” the firm stated. Bitcoin Batteries to stabilize electricity market With the installation of the Bitcoin Batteries, Layer1 co-founder and CEO…

We Have All Had A ‘Pizza Day Moment’ — What’s Yours?

Famous entrepreneur and author, Andreas Antonopoulos, said that he paid five Bitcoin (BTC) for one pound coffee in 2012.   “I don’t rerget it or any other BTC I spent, or gifted,” Antonopoulos told Cointelegraph in a May 22 email. “Without spending, BTC wouldn’t have become what it is today,” he added. “I still use it as a currency and I do a transaction or two every week.” Antonopoulos didn’t even like the coffee Antonopoulos’ tweet came on Bitcoin Pizza Day — a crypto holiday commemorating the first documented commercial purchase using Bitcoin. Approximately…

Institutional Investors Buying Up BTC Like Crazy After Halving

Both data and first-hand accounts from industry insiders indicates that an interest in Bitcoin (BTC) from institutional investors is accelerating at a rapid pace. This has led some to conclude that the “perfect storm” is about to hit the market. GBTC BTC Holding & Assets Under Management. Source: Cointelegraph, Grayscale. Price is not a factor Grayscale Bitcoin Trust, or GBTC, an exchange traded vehicle backed with Bitcoins, has been growing steadily in size over the past several years. However, in the last couple of months, its growth has begun to…