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TikTok Owner Reportedly Working With Chinese State Media on Blockchain

Owner of major social media app TikTok, ByteDance, has launched a joint venture with state-owned Chinese media group and ThePaper.cn operator Shanghai Dongfang Newspaper to develop business models that include blockchain and artificial intelligence (AI), Bloomberg reported on Dec. 14.  TikTok may use blockchain and AI to fight Deepfakes The joint venture was launched in the capital of eastern China’s Shandong province, Jinan, on Dec. 10 with a registered capital of 10 million yuan ($1.43 million). ByteDance owns 49% of the venture while the rest is owned by the Chinese…

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Blockchain Pilot Makes Waves in Russia’s Energy Sector

Earlier this week, Russian tech startup Waves announced it has been testing a blockchain solution for payments in the retail electricity sector. The pilot program was initiated by Rosseti, Russia’s national energy grid operator, which is looking to automate and make transactions between energy producers, suppliers and consumers more transparent. Now that the first stage has been successfully completed, the partners will proceed to scale up their efforts. Ultimately, they envision rolling the blockchain-powered solution out nationwide. Blockchain and energy: What makes them work together? According to Wood Mackenzie, a…

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Ripple-Based Remittance Firm SendFriend Claims to Save Up to 80% in Fees

Blockchain-based money transfer startup SendFriend utilizes Ripple’s technology to save up to 80% in remittance fees, according to a blog post published on Dec. 12. SendFriend uses Ripple’s xRapid product for cross-border payments, converting between the United States dollar, XRP and Philippine pesos and circumventing the longer process of traditional banking systems. Philippines-focused remittance platform SendFriend’s money transfer app aimed at reducing annual remittance fees for cross-border Filipino workers claims to lower such transaction costs by up to 75%. What makes it possible, according to the startup’s CEO, David Lighton,…

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Bitcoin Miner Canaan’s Shares Plunge 40% Since IPO in November

Chinese Bitcoin (BTC) mining giant Canaan Creative’s depositary shares have seen a 40 percent drop in value since November initial public offering (IPO). Canaan was the first Bitcoin mining giant to go public on a major United States stock exchange, and successfully navigate an IPO. However, the mining giant’s stock has taken a severe beating since its IPO on Nov. 21. The company’s stock price value went as high as $13 per share on the day of the launch, only to take a painful nosedive to today’s value of $5.25,…

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BTC Will Reach $100,000 in 2020

The price of Bitcoin (BTC) will skyrocket up to $100,000 in the coming year, according to the founder of infamous darknet marketplace Silk Road. In a series of blog posts on Dec. 10, Ross Ulbricht — the founder of now-defunct anonymous marketplace Silk Road — predicted that BTC’s price will reach $100,000 in 2020. The blogs were published based on letters he wrote in prison, using a type of market analysis known as Elliott Wave Theory. Ulbricht claimed the possibility to carry out such an analysis even without knowing Bitcoin…

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Alleged Bitcoin Ponzi Scheme Assets Frozen as US Judge Grants Injunction

A United States court has granted regulators a preliminary injunction against an alleged Bitcoin (BTC) Ponzi scheme which reportedly defrauded investors of $11 million.  In a filing with the United States District Court in Nevada dated Dec. 6, Judge Jennifer A. Dorsey ruled in favor of the Commodity Futures Trading Commission (CFTC) and against Circle Society, along with its operator, David Saffron.  CFTC wins injunction against CIrcle Society “…I find that this is a proper case for granting a preliminary injunction and other equitable relief to preserve the status quo,…

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Uphold and Salt Partner to Bring Liquidity to Millions Using Crypto-Backed Loans

Uphold, a digital money platform providing access to investments and payments using blockchain technology, has announced a partnership with crypto-backed lending company Salt. Together, the two plan to provide users with cash or stablecoin loans using cryptocurrencies as collateral. Uphold’s 1.7 million users can now secure loans through Salt against their holdings in Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), and XRP. The integration of the two platforms provides enhanced access to liquidity, enabling users to unlock additional value in their crypto holdings. Robin O’Connell, Uphold’s…

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