Chinese Economist Says 2020 Is the Tipping Point for Blockchain

The Tencent blockchain accelerator entry contest was held recently in Shenzhen China. Its theme concerned “blockchain industry and ecological co construction”.

According to the local news on July 2, Professor Zhu Jiaming, former economist of United Nations Industrial Development Organization and the President of Chinese Digital Assets Research, believes “2020 is an important year for integrating blockchain in different industries,

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Kazakh Gov Plans to Double Its Investment in Digital Currency Mining

Kazakhstan officials revealed the nation’s digital currency development plan to experts from Russia and China at “2020 Astana Online Financial Day”. According to the China Ministry of Commerce on July 1, Kazakhstan plans to double its digital currency mining investment by the end of this year, and continues to develop its central bank digital currency.

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China Highlights Blockchain in Pandemic Preparedness Strategy

Chinese authorities are trying to strengthen their epidemic preparedness and have identified blockchain as a key component of the response. 

The Chinese Circular of the National Health Commission released its plan on June 30 on how to ramp up its information technology support amid future pandemics. One component of the strategy is the use of blockchain technology for enhancing data sharing among medical institutions.

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The US Plan to Monitor Illegal Crypto Activities More Sufficiently

The COVID-19 pandemic has crushed businesses, crippling life all across the world. It is costing darknet drug traffickers millions as well because their methods of moving drugs and funds have been compromised during the lockdown, according to a blog post by Chainalysis.

“Darknet market revenue has fallen much more than we’d expect following Bitcoin’s recent major price drop,” Chainalysis reported,

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Massive Cyberattack on Australia Uses Cryptojacking Exploits

The Australian Cyber Security Centre said a group of “state actors” hacked Australian networks on June 19 and one of the vulnerabilities they exploited is related to cryptojacking malware attacks. 

According to the 48-page report released on June 24, the threat actors exploited four critical vulnerabilities in Telerik UI, including CVE-2019-18935, which was recently leveraged by the Blue Mockingbird malware gang to infect thousands of systems with XMRRig,

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Transnational Cybercrime Group Co-Founder Who Amassed $568M Pleads Guilty

A Russian national behind the cybercriminal enterprise Infraud Organization has pleaded guilty on June 26 to racketeering conspiracy, due to his role as a co-founder and admin of the dark web-based carding portal which generated profits over $568 million.

According to the announcement made by the U.S. Department of Justice, or DOJ,

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Singapore Witnessed a Surge in Ransomware Attacks During 2019

A report from the Cyber ​​Security Agency of Singapore, or CSA, shows that the number of ransomware attacks cases rose in 2019, compared to figures recorded in 2018.

According to a “Cyber ​​Landscape 2019” study published by the Singaporean government, the entity received 35 reports of ransomware incidents in 2019. This represents a surge compared to the 21 cases that reported in 2018.

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Research Suggests Transparency is Key for Utility-Based Crypto Projects

Researchers suggest that utility token issuers should provide basic levels of transparency to the public before listing on exchanges. They say that doing so may increase stakeholder confidence and attract new market participants. This is the key to crypto adoption, according to Duke University School of Law’s FinReg Blog on June 25. 

Disclosure certain information is key for crypto performance

In the blog post,

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Someone Has Been on a $200M Crypto Exchange Hacking Spree

A cybercriminal group has allegedly stolen around $200 million from cryptocurrency exchanges over the past two years. In total, they are believed to have hit 10 – 20 victims across the United States, the Middle East, and Asia.

According to research by the cybersecurity firm ClearSky, the gang named “CryptoCore,” known with other pseudonyms like “Dangerous Password” and “Leery Turtle,” has been actively targeting crypto firms since 2018 — specifically exchanges.

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Chainlink (LINK) Near New All-Time High — Here’s 3 Reasons for the Rally

Chainlink (LINK), a smart contract blockchain network, is nearing an all-time high after the altcoin broke out today, notching a 11% gain at the time of writing.

The altcoin first hit a record high at $5.10 in July 2019 before crashing to $1.35 during the Black Thursday marketwide correction on March 12.

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Chinese City Issues Post-Pandemic Consumer Vouchers on the Blockchain

In order to reduce the COVID-19 pandemic’s impact on business, Chinese governments at all levels have been coming up with different policies and solutions to help the economy survive. 

Nanjing, the capital of China eastern Jiangsu province, is one of the first cities in China to leverage blockchain technology and issue so-called “consumption vouchers” on the blockchain as a kind of crypto-driven stimulus package,

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How and Why Major Stars Are Embracing Tokenization

Over the last two years, the cryptocurrency industry has gone through a paradigm shift, as developers, projects and users have begun applying blockchain technologies to ever more innovative and intriguing use cases.

Among these, the tokenization of entertainers, sports stars and big personalities stands out as one of the most unusual recent trends because traditional sports,

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Market Predictions, Miner Fees Fluctuate, & China Moves Fast: Bad Crypto News of the Week

An eventful week for Bitcoin this week. It ended down nearly 5 percent but at one point, things were looking much worse. A collapse to $8,900 sparked talk of a three-month correction—which could be exacerbated by the expiration of more than 100,000 Bitcoin options next Friday. 

So far at least, the correction appears to have largely corrected itself but that might be because of the turmoil in the stock markets.

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Singapore to Explore Central Bank Digital Currency With China

Singapore’s central bank and financial regulatory authority is looking to cooperate with China in the field of central bank digital money.

Ravi Menon, the managing director of the Monetary Authority of Singapore, or MAS, has voiced the country’s readiness to enter into a close cooperation with China in relation to digital currencies.

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Bitcoin Scam Artists Under Investigation for Impersonating Police

The Royal Canadian Mounted Police, or RCMP, is investigating two Bitcoin (BTC) scams in Strathcona County in Alberta, Canada. They allege that fraudsters impersonated the local authorities in order to extort their victims for money.

According to The Sherwood Park News on June 16, one of the victims received a call by a person that claimed to be from the Canada Revenue Agency,

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Fed Chair on CBDC: ‘We Need to Understand It First and Best’ — But Is He Too Late?

In a hearing on June 17 before the House Committee on Financial Services, Chairman of the Federal Reserve Jerome Powell got into an exchange with Representative Tom Emmer (R-MN) over the subject of a central bank digital currency. 

Is there any progress on the digital dollar?

Emmer asked “What substantive recent actions has the Fed taken to understand and experiment with this technology?” 

Powell said the Fed needed to be on top of the issue,

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Chinese Tech Group Behind TikTok Looks to Enter Finance

ByteDance, the Beijing-based multinational tech group behind Tiktok, is looking into adding banking to its line of products and services. It is currently bidding for a digital bank licence in Singapore, according to the Financial Times on June 15. 

Competition is stiff

ByteDance is likely to compete with a few other Asian tech giants including Alibaba’s Ant Financial and electronic leader Xiaomi to obtain one of the five virtual banking licences that the Monetary Authority of Singapore is about to issue later this year. 

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Bitcoin Price Drop to $8.9K Caused by Whales Selling at Major Exchanges

As the weekly open commenced Bitcoin price dropped below $9,000 in a rapid pullback, liquidating $30 million in longs on BitMEX alone. According to market data, part of the sell off was the movement of crypto whales closing positions which led to panic selling among retail investors.

Whales—individual investors that hold an immense amount of Bitcoin—have the ability to significantly impact the price of BTC and according to on-chain data provider CryptoQuant,

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China Could Roll Out Its CBDC Without Anyone Realizing

China has emerged as the world’s leader in central bank digital currency, or CBDC, development, driving speculation surrounding the country’s domestic and international ambitions for its CBDC.

Speaking to Cointelegraph, Glenn Woo, Ledger Vault’s head of the Asia-Pacific region, predicted that China’s state-backed virtual currency will be the first to launch worldwide.

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Cryptocurrency News From Japan: June 7 – June 13 in Review

This week’s headlines from Japan included Japan’s minister of finance spurring conversation on crypto terminology, Merkle Science joining the Japan Security Token Association, Fobi Japan listing its own token, and Coincheck unveiling a digital meeting and voting solution. 

Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.

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Blockchain Firm Pitches CBDC Operating System to Bank of England

United Kingdom-based blockchain firm L3COS has submitted a proposal to the Bank of England, or BoE, for a blockchain-based operating system to power a central bank-issued digital currency, or CBDC.

L3COS described the proposal as a response to the consultation document on CBDC published by BoE in March — which identified several benefits and challenges associated with central bank virtual currencies and invited feedback from technology providers,

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Regulators: Deceased Quadriga Founder Committed Fraud

The Ontario Securities Commission, or OSC, claims that the crypto exchange Quadriga collapsed in 2018 because of fraud committed by its late founder, Gerald Cotten, who passed away on his honeymoon in India.

The report released on June 11, revealed by CBC Canada, says Cotten opened several accounts under aliases and credited himself with “fictitious currency,”.

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Chinese Stakeholders Don’t Want to Share Their Personal Data With Government Run Blockchains

Chinese local governments are facing difficulties when implementing blockchain applications due to stakeholders unwillingness to share privately owned data, according to a local report on June 10.

Data is king

According to the investigation, there are more than 30 related local governments procuring blockchain technology. Their aim is to leverage blockchain to build management platforms that improve local administrative and social governance capabilities.

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South African Solar Energy Blockchain Startup Raises $3 Million, Plans to Expand Across Continent

South African blockchain peer-to-peer renewable energy platform Sun Exchange obtained a $3 million investment from Arch Emerging Markets Partners, thereby closing its $4 million Series-A funding round, according to a statement issued Monday.

Sun Exchange allows international clients to buy remotely-located solar cells — either with Bitcoin (BTC) or South African rand — and then lease them to power businesses and organizations in emerging markets.

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Set to Grow, India’s Crypto Industry Must First Toil Tough Ground

Over the past few months, India’s cryptocurrency market has continued to be in a constant state of flux. From crypto bans imposed by the country’s central bank to a historic ruling by its Supreme Court to lift that ban, for most onlookers it appears that India’s crypto market has experienced a rebirth.

A recent industry report put together by exchange OKEx and research platform Coinpaprika indicates that the crypto space in India is set to soar to greater heights,

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