While the proof-of-authority consensus algorithm is turning into perhaps one of the most mature versions of blockchain technology. It is faster than other algorithms, more scalable, and does not depend on mining. Market leaders Walmart and GE Aviation are using PoA to track supply chains, and Microsoft has created a whole line of PoA-based enterprise products.
The Indian government will not be considering a cryptocurrency-related draft bill during the winter session of Parliament as was previously planned. The draft bill entitled “Banning of Cryptocurrency & Regulation of Official Digital Currencies” is not included in the session agenda issued in India’s lower house of parliament, Lok Sabha, on Nov. 14.
In August 2019,
Australian blockchain energy firm Power Ledger and Indian electricity distribution company BSES Rajdhani Power Limited (BRPL) have completed a peer-to-peer (P2P) solar power trading trial in the country.
Power Ledger announced the news in a press release shared with Cointelegraph on Nov. 14, detailing that it carried out a large-scale P2P energy trading trial in the Dwarka region,
Global banking giant HSBC will explore the use of blockchain for the issuance of fixed income securities in a joint trial with Singapore Exchange (SGX) and investment firm Temasek.
Focused on the Asia bond markets, the trial intends to streamline the bond issuance process and reduce associated costs by applying tokenized securities and smart contracts,
Taiwan-based smartphone maker HTC will launch a limited edition of the Exodus 1 featuring services by major global crypto exchange Binance. The Binance Edition Exodus 1 supports the Binance public blockchain, Binance Chain, as well as its decentralized counterpart Binance DEX, the firms announced Nov. 12.
Exodus 1’s native crypto wallet is integrated with Binance DEX
HTC and Binance announced the news at a Binance Super Meetup in Singapore attended by Binance CEO Changpeng Zhao and CFO Wei Zhou,
A former European Central Bank board member will chair a new arm of the Bank of International Settlements (BIS) focusing on digital currencies and financial innovation.
In a press release on Nov. 11, the BIS confirmed Benoît Cœuré would begin chairing the Innovation Hub from January 15, 2020.
BIS eyes impact of “critical trends”
“The Hub’s mandate is to identify,
With each passing day, the financial nitty-gritty associated with the cryptocurrency-related OneCoin Ponzi scheme continues to become of increasing interest to members of the global crypto community.
The U.S. government’s previous estimate of the scam that raked in a total of $4 billion seems to be well off the mark, as the figure could be more than three to four times the official estimate — this is according to Jamie Bartlett,
When Indian Defense Minister Rajnath Singh said that blockchain and artificial intelligence would “revolutionize war,” as Cointelegraph reported on Nov. 4, did he take things a bit too far? Jet engines have revolutionized warfare, and so have missiles and nuclear weapons — but shared digital ledgers?
Former NATO Secretary General Anders Fogh Rasmussen,
Australian blockchain energy firm Power Ledger has partnered with a local energy retailer to roll out its technology in South Australia. Power Ledger’s blockchain-based software will allow Australians to pool their excess solar and battery storage to a Virtual Power Plant for greater control and management over their energy.
Commercial deal with Australian electricity wholesaler Powerclub
Within the partnership,
Experts allege the biggest hurdle facing the blockchain systems being adopted by food retail giants such as Walmart and Nestlé has nothing to do with the technology itself.
In an interview with Tech Wire Asia, published on Nov. 7, Craig Heraghty — Agribusiness Leader at “Big Four” auditor PwC — reflected on the rising trend of blockchain among major retailers globally.
China’s President Xi Jinping gave credibility to blockchain and crypto by calling the country to accelerate blockchain adoption, said Galaxy Digital CEO Mike Novogratz. The cryptocurrency investor delivered his remarks speaking at the Reuters Global Investment Outlook 2020 Summit in New York on Nov. 5.
Xi “just credentialized crypto and blockchain”
China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. In a tweet on Nov. 2, Schiff, notorious for his cynicism when it comes to Bitcoin, attempted to counter criticism of his stance by Keiser report host, Max Keiser.
Schiff tells Keiser: gold backing beats BTC
“According to @maxkeiser I’m an idiot because I think #gold is better money than #Bitcoin,” he wrote.
India’s Defence Minister believes blockchain technology, artificial intelligence (AI) and big data will form part of the future of warfare.
As local daily news outlet Times of India reported on Nov. 4, Rajnath Singh highlighted the potential of blockchain, along with big data and AI, in defense operations.
Warfare’s new “blockchain paradigm”
Speaking to a range of delegates from 80 countries in Delhi,
OKEx, the world’s fifth-largest crypto exchange, announced on Oct. 29 plans to launch Tether (USDT) futures trading, featuring a linear contract with leverage of up to 100x. Stablecoin futures, the exchange said, offer a simpler and more efficient means to navigate the market, and could open the door for many new retail traders.
Related: Bitfinex Cries Fraud as Crypto Capital Executive Indicted by US
This news prompted a few murmurs.
In 2017, Bitmain ruled the roost and all eyes were on China, but 2018 was a barren year for cryptocurrency. Prices plummeted. Companies crumpled. The long-awaited initial public offerings of two crypto mining titans, Bitmain and Canaan Creative, failed at the final hurdle as the crypto winter humbled even the most ambitious crypto companies.
The Bitcoin price has been showing a high level of volatility following its abrupt increase to $10,600 on Oct. 26, when Bitcoin (BTC) climbed by 43% against the United States dollar on a single day.
According to Skew Markets, Bitcoin has been more volatile than other major cryptocurrencies like Ethereum in the past week,
Hostility to Bitcoin (BTC) from the global regulators is a double-edged sword that can hurt authorities if they lose their power, the Blockstream Chief Strategy Officer (CSO) warned.
During a panel at a Liquid meetup at Litecoin Summit on Oct. 29, Blockstream CSO Samson Mow predicted that regulatory restrictions to Bitcoin could have both favorable and unfavorable consequences for the regulators themselves.
The Guangzhou government has announced a $140 million subsidy fund to encourage the development of blockchain initiatives.
The local authorities are reportedly planning to spend 1 billion yuan ($141 million) to selectively sponsor two blockchain-related projects per year, according to a tweet of a senior exec at crypto investment holding firm Primitive Ventures.
Since the days of the British Empire, the United Kingdom has been one of the world’s largest and most influential economic powerhouses. Even though its financial control over the world has substantially decreased, the country is still one of the most culturally relevant regions in the world, especially when it comes to the adoption of a trend.
China’s state-backed tech workgroup has released its fourteenth crypto rankings report, with Bitcoin (BTC) ranked 11th and EOS (EOS) retaining the top spot as of the end of September 2019.
The listings rank 35 assets in total, as reported on Sep. 29 by the Center for Information and Industry Development (CCID)’s online information portal.
China is looking into the application of blockchain and Artificial Intelligence (AI) to cross-border financing, Reuters reports on Oct. 27.
Blockchain in risk management
Lu Lei, the deputy head of the Chinese regulator State Administration of Foreign Exchange (SAFE), reportedly said that there are plans to use blockchain and AI in cross border financing,
The Standing Committee of the 13th National People’s Congress in China has passed a new law regulating cryptography on Oct. 26 that will take effect on Jan. 1, 2020, reports local news outlet CCTV.
Per the report, the new regulatory framework aims to set standards for the application of cryptography and the management of passwords.
Binance CEO Changpeng Zhao (CZ) took to Twitter on Oct. 25, saying that he had “got word” that WeChat Pay puts receipts on the blockchain, along with a screengrab of a receipt with a link to a block explorer.
Why does CZ care so much?
Globally, companies in almost every industry are implementing blockchain solutions,
After initially seeking to ban Bitcoin in 2013, Thailand has since developed a permissive regulatory apparatus for digital currencies and cryptocurrency fundraising methods. Thai financial services firm Seamico Securities recently announced that it has received approval from the country’s Securities and Investments Commission (SEC) to operate its subsidiary, SE Digital, as a regulated initial coin offering (ICO) portal.
Mark Zuckerberg, the founder of social media giant Facebook, plans to tell United States Congress that Libra will not launch anywhere in the world until U.S. regulators approve it.
Libra won’t launch anywhere without congressional approval
According to Zuckerberg’s prepared remarks released on Oct. 22 in advance of planned hearings before the U.S.