China Telecom Releases White Paper on 5G Blockchain Phones

According to China Telecom, the current level of blockchain smartphones’ adoption is low, while device performance is poor. Major phone operator China Telecom has released a white paper on blockchain-powered smartphones in the 5G Era. China Telecom introduced the white paper at the China International Intelligent Industry Expo on Aug. 27, according to a report by local finance news outlet Sina. Existing troubles In the document, China Telecom pointed out the potential benefits of applying blockchain technology to mobile phones, including automation and transaction traceability. According to Sina, China Telecom’s…

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Stablecoins Vulnerable to Regulatory Uncertainty: European Central Bank

The European Central Bank releases a new paper devoted to stablecoins, providing taxonomy based on key stability mechanisms and recommending clear regulation. Stablecoins with a clear governance framework may be hampered by the uncertainty of the lack of regulation, according to the European Central Bank (ECB). Four major types of stablecoins outlined On Aug. 29, the ECB released a new paper devoted to stablecoins, which it describes as digital units of value that are not a form of any specific currency but rather rely on a set of stabilization tools…

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Thai Customs Department Plans to Use IBM’s Tradelens to Track Shipping

Thailand’s Customs Department plans to use IBM’s Tradelens blockchain shipment tracking solution, first at a port in Chon Buri and later in Bangkok. Thailand’s Customs Department intends to use IBM’s Tradelens blockchain solution to track shipping in Thai ports. According to an announcement published on Aug. 28 on the Thai Customs Department’s official website, the country plans to use Tradelens, a blockchain logistics system. Local news outlet Bangkok Post reported the next day that the platform is expected to streamline operations by managing shipment tracking and information sharing. Thailand’s push…

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Bitcoin Price Hovers Around $9,500 Following Sudden Price Drop

Bitcoin price is hovering around $9,500, having seemingly stabilized around the price it fell to yesterday, while the rest of the crypto market is largely red. Thursday, Aug. 29 — Top cryptocurrencies Bitcoin (BTC) and Ether (ETH) are still in the red, though XRP has managed to see minor gains on the day.  Market visualization. Source: Coin360 Bitcoin is trading at $9,496 at press time, marking a 1.85% price drop on the day. Yesterday, BTC, ETH and XRP all dropped sharply in price from 5:45 p.m. to 6:20 p.m. UTC.…

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Report: No Bank Account Needed to Transfer China’s Upcoming CBDC

The People’s Bank of China’s much-anticipated digital currency may allow fund transfers without needing a bank account, according to Binance Research. Binance Research, the research arm of the major crypto platform Binance, has reported that no bank account will be necessary to use China’s Central Bank Digital Currency (CBDC). Loose coupling and anonymity Binance Research shared its findings on Aug 28. According to the report, China’s CBDC will be transferable without a bank due to its loosely coupled design. As explained by the researchers, a loosely coupled design refers to…

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Report: Cryptojacking Campaigns Up by 29%, Ransomware Attacks Up 118%

McAfee Labs has observed increases of 29% in crypto jacking and 118% in ransomware attacks in the first quarter of 2019. Cybersecurity company McAfee Labs has released its August 2019 threat report, which notes an increase in cryptojacking campaigns and ransomware attacks in Q1 2019. Cryptojacking on the rise McAfee Labs posted their report on the company’s website on Aug. 28. According to the report, crypto jacking — installing and running a cryptocurrency miner without user permission — has been on the rise, with a 29% increase in crypto jacking…

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SEC Settles With Crypto Exchange Bitqyck And Its Founders

The US Securities and Exchange Commission (SEC) has settled with crypto exchange Bitqyck and its founders Bruce Bise and Sam Mendez over what the SEC believed was an unregistered token sale that raised $13 million. Bitqyck will pay a civil penalty of $8.5 million on top of disgorgement and prejudgment interest. For the two founders, Bise will pay $890,254 and Mendez will pay $850,022.

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Binance Issues Report On PBoC’s Digital Currency

A research report from crypto exchange Binance has claimed that the digital currency being developed by the People’s Bank of China (PBoC) will be backed one-to-one by fiat, replace notes and coins in circulation, and operate on a two-tiered system. The first tier will connect the PBoC’s digital currency with commercial banks for currency issuance and redemption, and the second tier will connect it with individuals and businesses.

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