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Dubai Gov’t to Launch KYC Blockchain Consortium in Q1 2020

One of the financial hubs of the Middle East, the United Arab Emirates (UAE), is continuing to expand blockchain-driven developments. The Department of Economic Development (DED) of Dubai has established a Know Your Customer (KYC) blockchain consortium with six major banks. Dubbed “KYC Blockchain Consortium,” the new blockchain-powered regulatory platform is designed to accelerate processes like exchange of digital customer data and documents while ensuring security. The project also intends to bring a unified platform of KYC efforts among existing and future ecosystem members like qualified financial institutions and licensing…

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Samsung Keeps Cryptocurrency Functionality in Galaxy S20 Models

South Korean technology giant Samsung recently unveiled its latest smartphone series, the Galaxy S20, at the Unpacked 2020 event in San Francisco.  While the headline feature is undoubtedly the new camera, according to the official marketing material the phone will also improve on the integrated blockchain security features introduced a year ago on the Galaxy S10. Security is still a highlight After copious details regarding the new camera, and briefly mentioning 5G, battery life and storage, Samsung highlights the new phones’ security features. These build on the Knox platform, a…

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At Bitrefill, Innovators Build a Circular Economy for Bitcoin

This is a sponsored article provided by Bitrefill. Creating an e-commerce ramp for Bitcoin users, Bitrefill has set itself apart with a mission to revolutionize the way that bitcoin can function as a true everyday currency worldwide. Established in 2015, Bitrefill is the world’s largest crypto-only e-commerce site. To explain some of the philosophy that went behind the development of this company, as well as some of the places that it looks to expand in the future, we spoke with the project’s Chief Communications Officer John Carvalho. “Bitrefill has existed…

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Infographic: Who Has Funded Bitcoin Core Development?

Monetarily, free and open-source software (FOSS) has always been at a disadvantage to proprietary software. It’s easier to solicit funding for a centralized project than for a decentralized one, not least of all because companies necessitate business models. Conversely, funding (and the agendas that often come with it) seems almost anathema to FOSS projects. At the very least, it is elusive. And Bitcoin is no exception. When creating Bitcoin, Satoshi asked for no compensation of any kind (it was, after all, still an open-source project). Satoshi also never tapped the…

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How Bitcoin Optech Is Connecting the Open-Source and Corporate Worlds

Bitcoin Core and other open-source projects have, over the years, built a range of technologies to improve Bitcoin scaling and the general Bitcoin user experience. With examples including Segregated Witness (SegWit), Replace-By-Fee and the Lightning Network, Bitcoin users have a number of tools at their disposal to utilize the Bitcoin blockchain as best and efficiently as possible. Yet, bigger companies in particular have historically been slow to adopt such tools. Segregated Witness is a prime example: Several of the largest Bitcoin businesses hadn’t adopted the upgrade for over a year…

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Why FOSS Development Is Crucial for Bitcoin’s Mainstream Acceptance

Crypto likes to see itself as disruptive, just as Apple disrupted mobile phones (and the camera), Tesla disrupted automotive (and also sustainable energy), Twitter/Facebook/WhatsApp disrupted media and communications (and also digital community building). At OKCoin, we embrace this industry because we also believe that bitcoin and subsequent cryptocurrencies represent a paradigm shift in both our financial system and social fabric. While it’s unclear what this shift will look like, or if it will ever be static, there will always be a need for a technical and financial infrastructure that allows…

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Microsoft’s ION Is an Open-Source Bet on Bitcoin

Open-source development has always enjoyed a little juice from the private sector. One of the most notable examples is Red Hat Software, a multibillion dollar corporation that has built open-source software for the international community. It was purchased by IBM in 2019 but still carries out its original function. Microsoft is another example of a highly profitable private company that releases open-source software. The computer monolith has helped to maintain the Linux source code for some time. It supported the software on its Azure cloud program and eventually integrated the…

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Bitcoin Price ‘Golden Cross’ Hints at 170% Rally to $26K by Halving

Bitcoin (BTC) can hit $26,000 in just two months thanks to a bullish event that previously triggered 170% price gains. As noted by Cointelegraph Markets analyst, Keith Wareing, on Feb. 18, this week saw Bitcoin’s ascending 50-day moving average cross over its 200-day moving average. Bitcoin 1-year price chart with 50 and 200-day moving average. Source: TradingView  Known as a “golden cross,” the phenomenon is a rare occurrence for the cryptocurrency. Despite BTC/USD shedding almost $1,000 in recent days, Wareing is anything but bearish on short-term profit potential. “Last time…

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Sandbox Game from Ethereum Sells $206,000 Worth of LAND

A large part of the economy will always remain dependent on gamers. Whether it was parents throwing down $200 for a Nintendo Entertainment System back in the 1980s or millions enticed by freemium models, people around the world are drawn in by addictively fun games. Blockchain-based games like The Sandbox (TSB) are fulfilling these needs for a new generation of users, and Ethereum has been quick to capitalize on its success. The first presale of TSB was in Dec. 2019, which sold more than 3000 pieces of LAND – virtual…

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Chinese Exchange FCoin Closes Down, Still Owes Users $125 Million

Zhang Jian, founder of Chinese crypto exchange Fcoin, revealed in a post earlier today that FCoin may not be able to pay the 7,000-13,000 BTC (that’s $67 million to $125 million) that it owes users.  According to Zhang, the exchange hasn’t been hacked and isn’t an exit scam. But evidence suggests it might be exactly that.  Zhang claims that the shutdown is the result of a series of internal data errors and decisions that are too complicated to explain:  “This is a problem that is a little too complicated to…

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