Global sports car brand Porsche will lead the auto industry into blockchain innovation with applications ranging from keyless entry to autonomous driving. Porsche said it is partnering with Berlin-based startup XAIN to test a number of blockchain concepts, such as providing temporary access authorizations to a vehicle. Blockchain systems would manage access to the vehicle’s data and […]
In August 2017, the People’s Bank of China (PBoC) visited all the major Chinese exchanges under the pretext of determining if Bitcoin and other cryptocurrencies were being used to launder money. According to Robin Zhu, the director of the Huobi exchange, the questions they asked showed that the officials had little idea of how cryptocurrencies […]
The end of 2017, just a couple of months ago, was a watershed moment for the virtual currency markets. The unprecedented appreciation of Bitcoin and other virtual currencies helped fuel the appetite for initial coin offerings, fundraising vehicles for new, untested coins. Though the direction of the cryptocurrency markets has not been influenced directly by […]
European governments are considering stringent regulations on cryptocurrencies in all European Union countries that could severely limit ICOs, crypto exchanges and investments in virtual currencies across the Continent. Concerns about rampant speculation coincide with fears among banking leaders there of digital currency being used for money laundering, drug trafficking, and terror operations. Some EU finance […]
Electric car maker Tesla’s cloud service was hacked to mine cryptocurrencies worth more than $1 billion dollars, according to news reports. RedLock, a cloud security intelligence firm, revealed that Tesla’s Amazon Web Services software container Kubernetes was hacked easily — because it did not even have a password! RedLock exposed a hack of other firms […]
The government of Venezuela raised $735 million on the first day of a presale of its oil-backed cryptocurrency, the “petro.” That’s hard currency in a country awash in debt and facing a failing economy on nearly all fronts. But it might not matter, experts say, since the country’s leadership doesn’t seem to understand cryptocurrencies at […]
Microsoft Founder Bill Gates has a lot of opinions, many direct and unflinching — as you might expect from a tech billionaire. His latest, shared in a Reddit “ask me anything” exchange: Cryptocurrencies are deadly. “The government’s ability to find money laundering and tax evasion and terrorist funding is a good thing,” he wrote. “Right […]
In a surprise turn of events, Russian leader Vladimir Putin has broadly endorsed blockchain technology. The pro-crypto comments came during a meeting with with Herman Gref, the president of Sberbank, Russia’s largest bank. Gref, who has previously stated that Sberbank is looking to implement blockchain technology in day-to-day operations, called on Putin to include blockchain […]
Craig Wright, the self-proclaimed inventor of bitcoin, stands accused of swindling more than $5 billion worth of the cryptocurrency from the estate of a computer-security expert. In 2016, Wright, an Australian, claimed that he created the cryptocurrency under the pseudonym Satoshi Nakamoto. The issues stem from Wright’s work with Dave Kleiman, a major cryptocurrency user […]
A Goldman Sachs-backed financial technology company Circle just got deeper into the game by purchasing cryptocurrency exchange Poloniex. The deal is reportedly worth $400 million, according to Fortune’s Robert Hackett. Circle facilitates cryptocurrency trades worth a couple hundred million dollars in its market-making arm Circle Trade. Poloniex said that its team would be bolstered by […]
