What Are Crypto Banks and How Do They Work?

Bitcoin once promised that it would help realize the lofty goal of making individuals “their own bank.” To understand the many services that banks truly provide is also to realize how preposterous this claim was in 2008, when Bitcoin’s white paper made it. More than a decade later, the grandfather cryptocurrency is still on the …

Bitcoin Believer Turned Facebook’s Libra Boss

David Marcus, the man spearheading Facebook’s blockchain effort, has gotten a tremendous amount of spotlight lately. The rapid emergence of Libra has dominated the coverage of other crypto-related developments, as it became apparent that the social media giant’s inroad into the realm of digital assets will have most serious consequences for both the blockchain sector …

Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages

Saturday, Aug. 10 — the top 20 cryptocurrencies are reporting largely reddish movement on the day, as Bitcoin (BTC) price saw a sudden dip earlier today. Market visualization courtesy of Coin360 Bitcoin’s price is currently down 4.62% on the day, trading at around $11,370 at press time, according to Coin360 after slipping from around $11,800 …

Crypto Custodian BitGo Expands Japanese Presence, Builds Team

Digital asset trust and security company BitGo is reportedly expanding into the Japanese market, The Block reported on Aug. 9. A source familiar with the matter told The Block that BitGo is expanding its presence in Japan. According to the report, BitGo is planning to grow its Japan-based team, including hiring a sales director for …

India Will Lose An Almost $13 Billion Market By Banning Crypto

Sidharth Sogani, the CEO of crypto and blockchain research firm Crebaco Global Inc, believes that India will lose around $12.9 billion worth of market if cryptocurrency is banned in the country. Sogani shared his reasoning with the news outlet AMBCrypto, which reported the matter on August 8. According to the report, Crebaco’s methodology included an …

Korea Exchange Affiliate Koscom to Launch DLT Platform for Unlisted Shares

South Korea’s state-backed financial IT firm Koscom will develop a blockchain-powered platform for trading unlisted securities. Koscom to launch blockchain-based unlisted shares trading service in H2 2019 Launched by South Korea’s Ministry of Finance and primarily backed by the Korea Exchange, Koscom plans to launch its blockchain-based platform for unlisted securities in the second half …

Commerzbank Tests Blockchain Machine to Machine Payments with Daimler

Frankfurt bank and financial services firm Commerzbank tested blockchain-based machine to machine payments with trucks produced by the firm behind the Mercedes-Benz auto brand, Daimler. Automated, human-free, payments According to a Commerzbank press release published on Aug. 8, the bank tested the exchange and settlement of payments between an electronic charging point and a Daimler …