South Korean Telecoms Giant KT Has Built Its Own Blockchain

KT Corporation, one of the two largest telecoms companies in South Korea, has launched a proprietary blockchain network, aiming to apply the technology across areas including ID verification, data roaming and energy trading.

According to a report from CoinDesk Korea, the firm revealed its KT Network Blockchain on Tuesday, boasting a throughput of 2,500 transactions per second (TPS) thanks to an integration with its existing high-speed commercial network.

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S. Korea’s Top Telephone Company Reveals Its Own Blockchain Network

State-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-powered commercial network. The firm has built a blockchain layer on top of its existing nationwide network in order to make it “more secure and transparent,” according to an article by The Korea Herald published Tuesday, July 24.

The news outlet reports the head of KT Blockchain Center Seo Young-il as saying that blockchain tech can be used in telecommunications for secure and efficient data management.

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Meet Honeyminer: The App That Lets You Earn Bitcoin With a Laptop Again

New mining software promises to let almost anyone earn small amounts of bitcoin with a Windows laptop, giving users a taste of the cryptocurrency’s early days.

Revealed exclusively to CoinDesk, the New Jersey-based crypto mining startup Honeyminer quietly launched a free beta in June and has already garnered 10,000 downloads across the globe. 

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Indian Crypto Exchange Unocoin Suspends Fiat Deposits, Withdrawals in Wake of RBI Ban

Unocoin, a major Indian crypto wallet provider and exchange, has suspended rupee (INR) deposits and withdrawals “as per orders” from the country’s central bank, according to Unocoin’s blog post July 23.

Unocoin notified its customers that fiat deposits and withdrawals are “temporarily disabled” until “an alternative method of funding is identified and deployed.”

Meanwhile,

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China Now Downplaying Blockchain Could Be Social Construct to Build It Up

China has led the way in terms of harsh regulations to quash cryptocurrencies like Bitcoin. They were the first country to institute blanket bans on ICOs and exchanges, and have never taken to the decentralized and liberal freedoms that comes from cryptocurrencies.

However, that does not mean that China is opposed to the potential revolutionary technology that comes from cryptocurrencies and their underlying base — blockchain.

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Singapore Airlines Launches Blockchain-Based Loyalty Wallet, Co-Developed by Microsoft

Singapore Airlines (SIA) has launched its own airline loyalty digital wallet that uses blockchain technology, it announced July 24. The software has been co-developed by Microsoft and KPMG Digital Village, according to the press release.

The new wallet — dubbed ‘KrisPay’ after SIA’s ‘KrisFlyer’ loyalty programme — converts frequent flyer miles into digitized ‘KrisPay miles’ that can be used to pay for retail purchases via a mobile app.

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ConsenSys Signs MoU With China’s ‘Smart City’ of Xiongan for Blockchain Consulting

China’s Xiongan New Area government has signed a Memorandum of Understanding (MoU) with ConsenSys to bring blockchain technology to the “smart city,” the South China Morning Post reported July 23.

ConsenSys, a blockchain software technology company focusing on Ethereum (ETH) development, has confirmed they will advise the Xiongan government on blockchain and software solutions in order to establish it as a “next generation smart city [and] leading blockchain innovation hub,”according to the (MoU) signed in Beijing.

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Gibraltar Stock Exchange’s Blockchain Platform Opens to Public Trading

The UK Overseas Territory of Gibraltar launched its Gibraltar Blockchain Exchange (GBX) July 23, a press release confirmed, opening up cryptocurrency trading.

The GBX was first announced by the Gibraltar Stock Exchange at BlockShow Asia conference in November 2017

GBX, which will ultimately function as a multifaceted ICO and trading ecosystem,

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How Cryptocurrency Prices Work, Explained

4.

Tracking the price of Bitcoin gives us a good indication of the overall cryptocurrency market in the past 18 months.

Bitcoin started 2017 at under $1,000 and took a dip when China announced investigations into cryptocurrency exchanges in the country. At that point, the majority of Bitcoin trading took place in China,

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India Exchange Unocoin Suspends Withdrawals Following Central Bank Demands

Exchanges

“Deposits/Withdrawals Notice,” came the post title from popular Indian cryptocurrency exchange Unocoin this week. “As per orders from RBI,” the exchange explained, “bank INR withdrawals and INR Deposits have temporarily been disabled. Once an alternative method of funding is identified and deployed, we will resume the deposit and withdrawal services.”

Also read: Cryptowhispers: DDoS Attacks,

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PR: Vaultbank to Bring Free Stock Trading with Margin, Top 20 Cryptos, 120+ Fiat Currencies

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

SAN FRANCISCO — Vaultbank announces the addition of free stock trading to its October Launch.

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The Daily: TCAP Explores Market, Tutanota Accepts Cryptos, Huobi Launches Cloud

The Daily

In today’s edition of Bitcoin in Brief we cover stories about one of the largest inter-dealer brokers in the world exploring the cryptocurrency market, a privacy-focused email service that now accepts several cryptos, a new white label exchange offering and a cloud mining service that abruptly ended BTC contracts.

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Indian Crypto Regulation Ready by September: Official

News

The Indian government is expected to issue detailed cryptocurrency guidelines by September, a senior official from the country’s Ministry of Finance reportedly said. Consultations with all stakeholders including the central bank have already begun. This announcement is independent of the supreme court’s hearing of petitions relating to crypto regulation in India.

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Tie a Message to Any Location Using the BCH-Powered Member Client

Technology & Security

There’s an interesting platform for the Bitcoin Cash (BCH) network called ‘Member,’ which allows users to post censorship resistant messages tied to specific locations around the world.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Member: Tethering Censorship Resistant Memos to Any Geographical Location With Bitcoin Cash  

Over the past few weeks,

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EOS, Litecoin, Stellar Lumens, Tron, IOTA Technical Analysis: Is Tron’s “Secret Project” a Tron-Alibaba Partnership?

Of all the coins under our review, EOS, Litecoin and Tron are technically stable and moving within a tight trade range. EOS for example is yet to add to last week’s gains but is confined within July 20 high lows. Now, despite our bullish stand on Stellar, prices are stalling and once we see gains above 30 cents,

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Bitcoin (BTC) Price Watch: All Eyes on this Area of Interest

Bitcoin Price Key Highlights

  • Bitcoin price busted through its short-term channel and the top of a longer-term descending triangle.
  • Price is now making its way to the area of interest around $8,000 that might make or break the rallies.
  • Strong bullish momentum could take it past this former support region,

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China’s ‘Dream City’ Taps Ethereum Dev. Studio ConsenSys for Blockchain Push


Government officials in Xiongan New Area have announced a partnership with Ethereum development studio ConsenSys to develop blockchain initiatives for China’s “dream city.”

According to the South China Morning Post, the Xiongan government has signed a memorandum of understanding (MoU) with the U.S.-based ConsenSys to “establish Xiongan as a next-generation smart city and a leading blockchain innovation hub.”

Formally announced in 2017,

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Seven Stars Cloud Partners with China VC Research Institute to Expand Tokenized Assets

Seven Stars Cloud Group, Inc. (SSC), a global fintech firm focused on blockchain and AI-powered digital asset management, has partnered with the China Venture Capital Research Institute (CVCRI), according to a press release published July 23. The partnership will purportedly help SCC extend its to extend its asset digitization services.

The new partnership will enable SSC to create a fully-compliant digital asset ecosystem,

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Blockchain Investment Fund Launches in China’s Nanjing to Develop Public Projects

China’s relentless march towards blockchain development is continuing, with reports indicating that a Chinese city will be supplying capital for a $1.5 billion blockchain fund.

China’s Admiration for Blockchain Technologies Continues with the Nanjing Fund

Nanjing, the capital of the Jiangsu province in Eastern China, has just launched a blockchain-centric fund with 10 billion Chinese yuan ($1.48 billion) in funding,

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Chinese City of Nanjing Launches $1.5 Billion Fund for Local Blockchain Projects

Nanjing, the capital of China’s Jiangsu province, has launched a 10 billion yuan ($1.48 billion) investment fund for blockchain development, ZDNet reports July 23.

Nanjing unveiled the major new fund at the inaugural Industrial Public Chain Summit (IPCS), together with the Zhongguancun Blockchain Industry Alliance –– a Beijing-based alliance of enterprises and government research institutes.

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Bitcoin Builds on Recent Gains, Pushing $7,750 While Major Altcoins See Losses

July 23: Following a major upswing that kicked off on July 16, Bitcoin (BTC)’s price performance has diverged from other top cryptocurrencies. As Coin360 data shows, the top coin continues to build on its recent gains, while most major alts are struggling to maintain positive momentum.

Market visualization from Coin360

Bitcoin (BTC) is trading around $7,740,

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Hong Kong Asset Management Firm Preparing to Launch Crypto Vault for HNWIs

An asset management firm from Hong Kong is preparing to launch a cryptocurrency custody service. The Fusang Vault, as the service will be called, is the brainchild of the Fusang Investment Office.

Fusang Vault Will Provide Custody Services for High Net-Worth Individuals

The Fusang Vault is expected to be launched in the fourth quarter of 2018.

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G20 Asks FATF to Clarify AML Standards for Cryptocurrencies

Economy & Regulation

Financial ministers and central bankers from the G20 states met over the weekend in Argentina to discuss the challenges for the global economy. They reiterated their position that cryptocurrencies do not pose a risk to the financial stability. The officials also called on the Financial Action Task Force to clarify by October how its anti-money laundering standards apply to crypto-assets.   

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Japan May Play Leading Role in G20’s Crypto Regulatory Stance

Despite gaining legitimacy in the eyes of many more individuals across the world, cryptocurrencies are still a contested topic within regulatory circles, especially with the regulatory bodies of developed countries.

FSB: Crypto Assets Don’t Pose A Risk To Global Financial Stability

The Financial Stability Board (FSB) recently released a report highlighting cryptocurrencies or “crypto-assets” as the board likes to call them. 

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Asian Asset Management Firm to Launch Crypto Custody for Family Offices


Asian asset management firm Fusang Investment Office is set to launch a crypto asset custody service called Fusang Vault in Hong Kong.

The firm, which usually focuses its operations on private family offices in Hong Kong, Singapore and Malaysia, credits heightened interest in cryptocurrencies from high-net-worth individuals and institutional clients for the move.

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