This Chinese City Is Launching a Blockchain Notary Program

Local media outlets are reporting that a blockchain-powered pilot program will provide a wide range of notary services in Suzhou, China. According to China Quality News, authorities of Suzhou announced on June 5 that this program aims to help millions of citizens access legal and government offices via the internet. The pilot platform, created by the Suzhou Municipal Market Supervision Bureau and the Suzhou Municipal Bureau of Justice, will cover personal freedom, life, health, property rights, and more. Blockchain-based cloud network to distribute files All the materials will be available…

Singapore Sees 300% Yearly Spike in Q1 Cryptojacking Attacks Amid COVID-19

Data published by Russian cybersecurity firm Kaspersky indicates that Singapore has seen a significant increase in the prevalence of attempted cryptojacking attacks during the first quarter of 2020. Kaspersky estimates that 11,700 attacks were attempted on devices located in Singapore from January until March — up from 2,900 as of the first Q1 2019. Kaspersky asserted that the spike in attacks is the highest percentage increase posted within the South-East Asian region. Cryptojacking attacks up three-fold in Singapore In an interview with Straits Times, Kaspersky’s general manager for South-East Asia,…

Brave Comes Under Fire for Binance Affiliate Link Autofill

Crypto-powered privacy-focused web browser Brave has come under fire for automatically filling an affiliate link into its address bar when a user attempts to access the website for leading crypto exchange Binance and its United States-based subsidiary Binance.US. Brave’s co-founder and chief executive, Brendan Eich, has acknowledged the “mistake,” pledging that the error will soon be corrected to remove the automatic completion of its affiliate link after the situation gained traction on crypto Twitter. “Brave default autocompletes verbatim Binance.us in the address bar to add an affiliate code. We are…

Cryptocurrency News From Japan: May 31

This week’s headlines from Japan included Coincheck updating the public on a recent data leak, a blockchain tech outfit unveiling plans for a digital local currency, BitBank facing a breach similar to Coincheck, the Japan STO Association gaining its first full-time trust bank member, and Japan achieving the second highest 24-hour Bitcoin trading volume numbers for May.   Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Coincheck updates public on user data leak  Tokyo-based crypto exchange Coincheck faced a hack between May 30 and June 1,…

The Global COVID-19 Pandemic Gave People the Mandate of Independent Money

The COVID-19 pandemic forced the world to hit the brakes on economic activity, and in response, the United States Federal Reserve has introduced trillions of U.S. dollars to pay for the stimulus packages it’s giving away. Naturally, many people have jumped to inflation as the forgone conclusion. Proponents of Bitcoin (BTC) are excited about the prospect of inflation because the cryptocurrency has been billed as a check against central bank expansion, and such a period of inflation would demonstrate Bitcoin’s value in this regard. But inflation is not a foregone…

Bitcoin Price Looks Like a “Carbon Copy” of Gold, and That’s Bad for Bulls

Since the $8,600 lows seen at the start of the week, Bitcoin has mounted a strong comeback, recovering to ~$9,800. A growing number of analysts, however, have said that the recovery is just noise in an otherwise bearish trend. They cite fractals and textbook patterns suggesting that it is only a matter of time before BTC falls back towards the $8,000s, then maybe even lower. Bitcoin Looks Almost Exactly Like Gold — and That’s Bearish A fractal is a technical term used by investors to describe a phase of price…

Gibraltar Financial Watchdog Issues Warnings for Four Crypto Sites

On June 5 the Gibraltar Financial Services Commission, or GFSC, published four public warnings against cryptocurrency websites that claim to have an alleged license to operate in the territory. According to the authorities, www.askcurrency.org, www.findcurrency.org, www.arbitragecurrency.org, and www.etrustcoin.com have not been licensed or authorized by the GFSC — nor do they have an application pending for authorization. The Gibraltar financial watchdog also notes that such websites are displaying the GFSC logo, which has been applied “without the consent of the GFSC.” Alleged crypto sites are also not in an “initial…

VeChain Bolsters Traceability of Chinese Pork Products

Traceability-focused blockchain project, VeChain, has announced a partnership with China’s Shenzhen Yuhongtai Foods Company. This will allow Shenzhen to track pork products distributed by the retailer’s subsidiary, Meijiada Fresh Foods. The partnership will see detailed information concerning how pork sold by Meijiada was raised and its route to supermarkets, with fresh meat products sold by the chain mandated to be sold on the same day as harvest. Unsold produce is “systematically collected and processed, and will not be sold the next day.” Blockchain to trace premium pork in China Meijada…

US Regulators Have Double Standards When It Comes to Bitcoin

Bitcoin (BTC) exchange-traded funds, or ETFs, have faced unfair pushback from U.S. regulators, according to VanEck director and digital asset specialist Gabor Gurbacs.  “There’s a persistent double standard against Bitcoin and digital assets, which I think is wrong,” Gurbacs told host Max Keiser on a recent episode of the Keiser Report. Bitcoin ETF denials by the bushel  In its simplest form, a Bitcoin ETF is a financial product traded officially on mainstream stock markets, with shares representing exposure to Bitcoin’s price. A Bitcoin ETF might be cash-backed or BTC-backed, depending…

Solutions for Overcoming DeFi Security Breaches

Decentralized finance, commonly referred to as DeFi, has grabbed the attention of mainstream financial and technology audiences alike. While the sector has been applauded for bringing about innovative digital finance solutions from lending to payments, progress has been overshadowed by high profile security breaches. Adhering to these security guidelines will ensure that DeFi solutions will be better equipped to offer users a more instant, safe and secure network than traditional banking services. New DeFi market opportunities overshadowed by security threats When governments enforced lockdowns to prevent the spread of the…