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Blockchain and AR a Winning Solution at Elev8CON’s Startup Showcase

Eight companies gathered on stage at Elev8CON in Las Vegas on Dec. 10 to demonstrate how they are applying blockchain technology to solve real-world problems and improve financial industries. The startup showcase session featured Gridfinity, a cloud-based mining company; Appliqate, a blockchain-based affiliate marketing solution; TemTum, a scalable blockchain network; DreamView Studios, a computer-generated imagery company for e-commerce; Knowbella Tech, a blockchain-based intellectual property platform; System9, a blockchain solution for institutional marketing; NGRAVE, a military-grade hardware wallet; and BlocWatch, an enterprise-blockchain focused security company. While all of the startups demonstrated…

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Bitcoin Price ‘Boring and Fragile’ as Trader Plans for Dip Below $7K

Bitcoin (BTC) continued its broad downtrend towards $7,000 support on Dec. 12, failing to break out of a behavioral pattern that has left traders uninspired. Cryptocurrency market daily overview. Source: Coin360 Bitcoin could face “significant drop” Data from Coin360 showed BTC/USD trading down around 1.2% on the day, with only a brief spike to $7,265 punctuating the otherwise lackluster performance. The sudden uptick met with selling pressure within minutes, markets tanking to local lows of $7,107 before recovering to current levels around $7,150.  Bitcoin seven-day price chart. Source: Coin360 Bitcoin…

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From Health Care to Mining, Central Asia Stays on the Blockchain Beat

Cryptocurrency and blockchain technology continues to be a global phenomenon, with adoption and utilization cases emerging in almost every corner of the globe. Digital technology has become so popular that it is now a major talking point not only in the financial sector but also in politics and governance. The seven “-stan” countries of Central and South Asia — Pakistan, Kazakhstan, Afghanistan, Kyrgyzstan, Uzbekistan, Tajikistan and Turkmenistan — haven’t shied away from the sweeping digital technology phenomenon. Whether it be revitalizing Afghanistan’s healthcare sector with blockchain adoption or introducing a waiver for…

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German SolarisBank Opens Subsidiary to Provide Custody Services for Digital Assets

Berlin-based fintech company solarisBank has established a subsidiary to provide a custody solution for digital assets. Per a Dec. 11 announcement, solarisBank’s newly established subsidiary, solaris Digital Assets GmbH, will provide clients with an application programming interface (API)-accessible platform, which gives access to the full range of solarisBank’s digital white-label banking services. No need to apply for a license The announcement further reads that solaris Digital Assets will operate in compliance with the regulatory requirements of the German market, as well as ensure storage of digital assets that is compliant….

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ConsenSys Is Reportedly Shutting Down Offices in India and the Philippines

Consensys founder Joseph Lubin has reportedly informed teams in India and the Philippines that their offices will be closing down. On Dec. 11, Coindesk reported that sources familiar with the matter confirmed that the local offices in India and the Philippines would indeed be shut down, however, they were not able to share any more details in regards to the imminent office closures. Cointelegraph contacted ConsenSys regarding these latest developments but had yet to receive a response as of press time. This article will be updated if new comments come…

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Elliptic Launches Tool to Connect Banks with Cryptocurrency Exchanges

London-based cryptocurrency compliance firm Elliptic has launched a new tool that allows banks to work more closely with crypto exchanges. Dubbed Elliptic Discovery, the product collects detailed profiles of more than 200 global crypto exchanges to enable banks to manage risks associated with crypto transactions, Business Insider reports Dec. 11. Elliptic Discovery includes data collected since 2013 Designed specifically for banks, Elliptic Discovery reportedly provides compliance teams with necessary insights to identify flows of funds on crypto assets and assess risks including money laundering. The tool is reportedly based on…

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Bitcoin ‘Can Be’ A Reliable Financial Instrument After All: Mark Cuban

One of the most outspoken critics of Bitcoin (BTC) has delivered mixed messages about its reliability as a financial asset.  In comments to Forbes published on Dec. 10, Mark Cuban appeared to contradict himself on Bitcoin’s overall utility.  When asked whether or not the cryptocurrency could become a “reliable financial instrument,” the Dallas Mavericks owner gave two differing responses. “Not a chance,” he wrote at first. Subsequently, he added, “It is a collectible. If you consider art or gold a viable stable financial asset, then yes. It can be.” Fiat…

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World’s 2nd-Largest Bank CCB Launches Blockchain Refactoring: Report

China Construction Bank (CCB), the world’s second-biggest bank by operated assets, has officially launched its blockchain-based refactoring platform. Targeting commercial factoring business, CCB aims to bolster operations and reduce major risks in its refactoring business while providing shared data access by multiple participants, Chinese news outlet Sina Tech reports Dec. 6. As reported, factoring firms represent third parties that buy businesses’ invoices at a discount in order to help those businesses raise funds. CCB’s blockchain trading platform reached $50 billion in cumulative volume in October The news comes after CCB…

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Ethereum Ice Age May be Imminent If Miners Withdraw From Network

The Ethereum block difficulty began to grow back in November 2016. Since then, developers have been constantly forced to carry out hard forks to keep the network up until the transition to a proof-of-stake algorithm takes place. In the lead-up to the Istanbul upgrade, implemented on Dec. 8, the Ethereum team decided again to postpone the explosion of a so-called “difficulty bomb,” which some believe may lead to the onset of an Ice Age. How can this happen and what would be the consequences if the Ethereum network froze? Difficulty…

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MakerDAO Responds to Dev Accusing Network of $340M Vulnerabilty

The Maker Foundation has announced a series of governance polls aimed at security after software developer Micah Zoltu explained how any hacker with $20 million at their disposal could stage an attack on the MakerDAO network and steal close to $340 million. In a Dec. 9 blog post, the Maker Foundation interim risk team announced a series of governance polls into its voting system, with one poll asking the Maker community whether the governance security module (GSM) should be upgraded from 0 seconds to 24 hours. Earlier on Dec. 9,…

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