China_blockchain_forerunner

Blockchain adoption spree: Chinese e-commerce giant JD.com has filed for over 200 blockchain patents

As per the local news, Chinese e-commerce giant JD.com has reportedly applied for over 200 blockchain-related patents followed by its competitor Alibaba which has purportedly applied for a total of 262 blockchain patents at press time. Furthermore, Chinese internet titans Tencent and Baidu have reportedly applied for 80 and 50 blockchain-related patents, respectively. As per reports, China is purportedly referred to as the global forerunner in blockchain applications, with 4,435 blockchain patent applications filed from 2013 to 2018, China accounts for 48 per cent of global blockchain filings.

China_blockchain_forerunner

Blockchain adoption spree: Chinese e-commerce giant JD.com has filed for over 200 blockchain patents

As per the local news, Chinese e-commerce giant JD.com has reportedly applied for over 200 blockchain-related patents followed by its competitor Alibaba which has purportedly applied for a total of 262 blockchain patents at press time. Furthermore, Chinese internet titans Tencent and Baidu have reportedly applied for 80 and 50 blockchain-related patents, respectively. As per reports, China is purportedly referred to as the global forerunner in blockchain applications, with 4,435 blockchain patent applications filed from 2013 to 2018, China accounts for 48 per cent of global blockchain filings.

LATEST NEWS​

crypto_tax_IRS-min
Regulations

U.S. tax authority the Internal Revenue Service [IRS] prioritizes issuing crypto-tax guidance

As per news, on 16th May the United States authority of taxation, the IRS published a letter citing prioritization of tax guidance issuance for cryptocurrencies. The letter was in response to requests from 21 representatives in Congress including Rep. Tom Emmer, purportedly for providing clarity on taxes related to crypto holdings. As per reports, the instruction will reportedly cover issues such as acceptable methods for calculating cost basis, cost basis assignment and tax treatment of forks.

Lencing_blockchain_tracking
Technology

Austria-based fibre producer Lenzing to integrate blockchain tech for tracking supply chain

Lenzing, a major fibre producer in Austria reportedly announced to launch a blockchain-powered logistical solution for implementing transparency in its fibre supply chain. As per news, the Austrian fibre manufacturer has reportedly partnered with Hong-Kong-based blockchain firm TextileGenesis for integrating the tech to its fibre business TENCEL. Furthermore, Lenzing is looking forward to the launch of its supply chain traceability platform in 2020, while conducting test runs along with all the involved chain participants, reported Cointelegraph.

OmiseGo_unveiling_blockchainproject-min
Technology

OmiseGo unveils its newest version of the OMG network Samrong

Crypto payments processor and exchange, OmiseGo has reportedly launched its second version of the OMG network called Samrong. As per the news, the launched project has purportedly undergone some significant modifications with respect to Plasma smart contracts. As per reports, the project is built on Ari’s Minimum Viable Plasma [MVP], however, runs a More Viable Plasma, which purportedly increases the functionality of the network.

Dragonchain_BaaS-min
Technology

Enterprise BaaS provider Dragonchain awarded with a patent for blockchain-powered loyalty system

An enterprise Blockchain-as-a-Service [BaaS] provider, Dragonchain was reportedly awarded a patent for a loyalty system that enables tracking and monetization of time on the blockchain. As per reports, the patent titled ‘security systems and methods based on cryptographic utility token inventory tenure’, suggests a new method for developing a time-based value system on a blockchain. Furthermore, the system’s time-based scores denoted using a value dubbed as “Dragon Days of Slumber Score” [DDSS], reportedly shares similarities with Proof-of-Elapsed-Time consensus [PoET], as reported by CryptoSlate.

White_hat_hack
Technology

White hat hackers earn $32,000 for pointing out security loopholes

As per news, white hat hackers have reportedly earned about $32,000 in bounties for pointing out security loopholes in cryptocurrency and blockchain project within the last two months. As per reports, the lump sum of over $30,000 was purportedly distributed from 28th March to 16th May by 15 firms while being documented in 30 bug reports. Moreover, EOS company Block.one and blockchain startup Aeternity have reportedly issued $10,000 individual rewards within this time span, reported Cointelegraph.

ABNAMRO_abandons_crypto-min
Bitcoin

Dutch bank ABN AMRO abandons plans to launch Bitcoin [BTC] custodial wallet “Wallie”

ABN AMRO has reportedly scrapped plans to launch Bitcoin custodial wallet dubbed as “Wallie” citing risk concerns. As per the reports, Jarco de Swart, the bank’s senior press officer purportedly stated, the bank’s decision to not continue with its plans as “cryptocurrencies because of their unregulated nature are at the moment too risky assets for our clients to invest in.” As per The Next Web, the bank had reportedly polled just 500 of its customers for developing a crypto wallet and if so, how.

TRX_futures_trading-min
Altcoin

OKEx unveils TRON [TRX] futures trading featuring on the exchange platform

As per the news, the Malta-based cryptocurrency exchange platform announced the launch of TRON [TRX] futures trading scheduled for 8:00 [CET, UTC+1] on 20th May. As per reports, the exchange clarified that the expiry period is set weekly, bi-weekly and quarterly while further adding that the possible leverage of futures should not exceed beyond 20x. The tool purportedly will be based on TRX/BTC trading pair data taken from OKEx, Huobi and Binance exchange, as reported by Coinspeaker.

Venezuela_Russia_bilateral-min
Markets

Venezuela and Russia considering the state-backed Petro [PTR] for bilateral trade

The South American nation, Venezuela engulfed in a bitter political impasse, is reportedly negotiating with Russia over excluding the USD in their bilateral trading activities. As per the news, while the two countries are in discussion over the use of the Russian ruble, the two parties are also purportedly discussing the use of a possible alternative i.e Venezuela’s state-backed cryptocurrency dubbed as the Petro. The state-backed crypto was envisioned to serve as a substitute as the country’s fiat depreciated and to evade sanctions placed by the U.S., denying the country access to international finance, reported blokt.

🔗blokt
firefox_cryptojack_security

Firefox Quantum incorporates privacy toggle for protection against cryptojacking

As per Mozilla’s blog post, Firefox Quantum, the latest version of the open-source internet browser has reportedly incorporated privacy toggle for protection against crypto-jacking. As per news, Mozilla purportedly warned its users earlier about crypto-jacking, websites that can deploy scripts that launch a crypto miner on a user’s machine without them being aware of it. However, users can now reportedly toggle an opt-in feature that purportedly blocks potential-cryptojackers from taking advantage of spare computing power for crypto mining, reported Cointelegraph.

Monero is a modern way of exchange and this crypto currency is a convenient means of payment in the financial and web markets

Harry Halpin: Monero and Zcoin are ‘privatizing the blockchain’

The privacy-oriented coin, Monero and its fundamental features viz ring signatures, ring confidential transactions and stealth addresses have reportedly received acclaim in the past. As per new, however, Harry Halpin, CEO of Nym technologies alleged Monero and Zcash for “privatizing the blockchain” as a whole, with sensitive data easily viewable to fraudulent entities. Further to the accusation, Nym technologies have added Tor, started as a Navy research project as a solution with claims of being better than Monero and Zcash to conceal sensitive data on its platform, reported AMBCrypto.

Bitfinex_&_Tether-min`

Bitfinex and Tether lawyers appeal for case dismissal over NYSC’ lack of jurisdiction

As per news, Bitfinex and Tether lawyers are purportedly moving to dismiss their ongoing case against the New York Attorney General [NYAG] for the alleged $850 million cover-up. As per reports, the law firms representing the companies have argued saying the New York Supreme Court [NYSC] holds neither personal nor subject matter jurisdiction. While providing validation the law firms add, Bitfinex and Tether neither operates out of New York nor has harmed investors in that state, reported Cointelegraph.

SEC_shutting_down_-min

SEC halts Argyle Coin which duped funds worth $30 million into ‘Diamond-Backed’ cryptocurrency

As per news, the United States Securities and Exchange Commission [SEC] has reportedly halted the confirmed cryptocurrency Ponzi Scheme Argyle Coin, after it took funds worth $30 million. As per reports, Jose Angel Aman, the principal behind Argyle Coin is subject to legal action for running a Ponzi scheme with the money gained from investors in his purportedly alleged diamond resale outfit. Moreover, the coin backed by various precious stones involved participation from 300 investors in the U.S. and Canada, while further investigations lead to allegations like selling unlicensed securities, reported Cointelegraph.

Block.one_EOSIO_Explore-min

Block.one deploys the EOSIO Explorer interface to ‘improve developer experience’

Block.one subsidiary EOSIO Labs, had reportedly deployed a web-based graphical user interface, the EOSIO Explorer on 21st May. As per the blog post, the interface was designed to help better the overall developer experience with reference to ‘interaction and monitoring’ on the EOS apps and networks during the development stage. Furthermore, the interface purportedly claims to reduce time spent on developing apps, while also making EOSIO smart contract development more accessible to a wider spectrum of developers, reported blokt.

🔗blokt
Kraken_fund_raising-min

Kraken offers shares at $4 billion valuation with $6.7 million already raised

Major cryptocurrency exchange, Kraken is reportedly looking to raise at least $10 million [0.255 per cent equity] at a purported value of $4 billion. As per reports, the crypto exchange has already managed to raise about $6.7 million from 285 investors at the time of press. The exchange purportedly said that they have seven established bank and payments partners while adding, “client on-boarding infrastructure & AML/KYC policies capture significant upside from institutional adoption,” reported TrustNodes.

ZSE_blockchain_adoption-min`

Zimbabwe Stock Exchange [ZSE] is interested in adopting the Blockchain, says Justin Bgoni

As per local news, the Chief Executive of the Zimbabwe Stock Exchange, Justin Bgoni has announced his interest in adopting the blockchain tech while seeking regulatory clarity. As per reports, the exchange is reportedly considering the use of blockchain-based services and products in real estate investment trust securities, mineral commodities exchange and exchange-traded funds [ETF]. Bgoni purportedly adds, “in terms of regulation,” the exchange does not wish to proceed, however, concluding with, “But the technology side is very good.”

NYSE_appeal_to_SEC-min

NYSE Arca requests rule change to list EFT backed by Bitcoin [BTC] and T-Bills

As per news, NYSE Arca has reportedly made a formal appeal to the Securities Exchange Commission [SEC] for a change in the rule that would enable listing of shares in a proposed Bitcoin investment trust. As per reports, the filing cited that the U.S. Bitcoin and Treasury Investment Trust would exclusively invest in Bitcoin and Short-term U.S.Treasury securities. The filing adds furthermore, Coinbase’s custody arm would act as the custodian for the investment trust’s Bitcoins, reported CoinDesk.

Bitnami