Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

The People’s Bank of China’s much-anticipated digital currency may allow fund transfers without needing a bank account, according to Binance Research. Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC). Loose coupling and anonymity Binance Research shared its findings on Aug 28. According to the report, China’s CBDC will be transferable without a bank due to its loosely coupled design. As explained by the researchers, a loosely coupled design refers to…

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Report: Cryptojacking Campaigns Up by 29%, Ransomware Attacks Up 118%

McAfee Labs has observed increases of 29% in crypto jacking and 118% in ransomware attacks in the first quarter of 2019. Cybersecurity company McAfee Labs has released its August 2019 threat report, which notes an increase in cryptojacking campaigns and ransomware attacks in Q1 2019. Cryptojacking on the rise McAfee Labs posted their report on the company’s website on Aug. 28. According to the report, crypto jacking — installing and running a cryptocurrency miner without user permission — has been on the rise, with a 29% increase in crypto jacking…

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Bitcoin Price Update: Where do we go from here?

$9,100 is the last line in the sand for Bitcoin price after a rough week and with future movements uncertain. Well, Bitcoin (BTC) decided to take the bearish path, or maybe larger players that shape the market made the choice for it. The ascension from the narrowing pennant proved to be a fakeout and a tweezer top at $10,278 was followed by a sharp reversal all the way to the bottom of the larger bull pennant that Bitcoin has traded in since topping out at $13,800 on June 26th.  The…

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Mercedes-Benz in China Joins PlatOn for Blockchain Used Car Data

PlatOn has created a blockchain platform for monitoring the price of used cars, specifically tailored for the Beijing Mercedes-Benz Sales Service. Blockchain solutions company PlatOn has created a platform for storing data and calculating the price of used business cars at Beijing Mercedes-Benz Sales Service (BMBS). Calculating and monitoring car price PlatOn shared the news with Cointelegraph on Aug. 29. According to the announcement, PlatON’s blockchain-based Vehicle Residual Value Management Platform can store both static and dynamic data, which will be used to automatically calculate the residual value of registered…

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Crypto Lending Platforms Prepare to Assail the Banking System

The battle lines have been drawn and the troops assembled. On the one side stands the combined might of the banking cartels, centuries of deeply entrenched financial infrastructure supporting them. And on the other side stands a handful of crypto companies armed with little more than a passionate plea: “Ditch the legacy system and come join us. Where we’re going, you won’t need banks.” It’s an enticing call – but is anyone heeding it? Also read: Crypto Salaries Gain Regulatory Recognition Around the World Crypto Lending: Innovation or Emulation? Every…

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Thai Customs Department Plans to Use IBM’s Tradelens to Track Shipping

Thailand’s Customs Department plans to use IBM’s Tradelens blockchain shipment tracking solution, first at a port in Chon Buri and later in Bangkok. Thailand’s Customs Department intends to use IBM’s Tradelens blockchain solution to track shipping in Thai ports. According to an announcement published on Aug. 28 on the Thai Customs Department’s official website, the country plans to use Tradelens, a blockchain logistics system. Local news outlet Bangkok Post reported the next day that the platform is expected to streamline operations by managing shipment tracking and information sharing. Thailand’s push…

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SEC Settles With Crypto Exchange Bitqyck And Its Founders

The US Securities and Exchange Commission (SEC) has settled with crypto exchange Bitqyck and its founders Bruce Bise and Sam Mendez over what the SEC believed was an unregistered token sale that raised $13 million. Bitqyck will pay a civil penalty of $8.5 million on top of disgorgement and prejudgment interest. For the two founders, Bise will pay $890,254 and Mendez will pay $850,022.

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Binance Issues Report On PBoC’s Digital Currency

A research report from crypto exchange Binance has claimed that the digital currency being developed by the People’s Bank of China (PBoC) will be backed one-to-one by fiat, replace notes and coins in circulation, and operate on a two-tiered system. The first tier will connect the PBoC’s digital currency with commercial banks for currency issuance and redemption, and the second tier will connect it with individuals and businesses.

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