Major Indian Bank Threatens to Close Accounts of Users Transacting in Crypto: Report

Kotak Mahindra Bank — India's second largest private sector bank by market cap — is allegedly requiring account holders to refrain from dealings in cryptocurrency. The claim was made by...

Boston Stock Exchange Partners tZero to Launch Regulated Security Token Exchange

The operator of the Boston Stock Exchange has announced a partnership with Overstock subsidiary tZero to launch the world’s first regulated security token exchange. The joint venture, unveiled on Tuesday, will see tZero and Boston Stock Exchange company BOX Digital Markets develop a regulated venue that facilitates the trading of blockchain tokens that are classified The post Boston Stock Exchange Partners tZero to Launch Regulated Security Token Exchange appeared first on CCN

A Profile-Based Social Economy Breaks Barriers With Blockchain

Today’s online advertising industry deals with challenges of all sorts and kinds, particularly when it comes to dealing with fake data or handling user privacy. After a class-action lawsuit against Facebook which was accused of storing people’s images and using them to breach user privacy, the social media was recently fined $1.4 mln by a Spanish data protection regulator for its data harvesting activities. Consumer credit reporting agency Equifax prides with its 800 mln consumers worldwide. A cyber-security breach that happened in September 2017 exposed the personal data of 145.5 mln customers. Social Security numbers, home addresses, birth dates and even driver license numbers were stolen, putting the people at risk and unveiling the mere fact that the information people share online can’t be controlled and secured. The same thing happens on social media, where fake news and clickbait articles are everywhere on Facebook, Twitter, and other social platforms. Some strive to maintain their neutrality; however, opinions vary on the best methods to tackle the issue. Others don’t think there’s even an issue. Regardless, third parties won’t hesitate to use consumers’ intellectual property to make a profit. Those that pay for a service (e.g., advertisers) don’t know how their money is being spent, whereas consumers remain in the dark and are completely unaware that their digital footprint is constantly monitored and tracked. Profile-based economy powered by Blockchain Because profile users are diverse, and there’s no online transparency for publishers, consumers, and advertisers, controlling a flawed social media economy become extremely challenging. Current trends are oriented towards an oligopoly where Internet companies like Facebook, WeChat, and Google are in control of most consumer profiles. They’re in control of online marketing budgets, meaning that publishers are unable to control their spending budgets and revenues. A transparent model provided by Blockchain could be the solution to a controlled and insecure social media economy. Highly-secure, transparent and scalable, the perks of Blockchain span beyond advertising. Consumers want to know for sure that what they share online is maintained privately. With companies like Facebook and Equifax adhering to traditional methods, and not caring enough for the privacy of their customers, the best solution is a profile-based economy that Blockchain can provide. Robin8 PUT builds a bridge between consumers and social media sharing A new wave of social media rises above the surface. With social channels like Facebook still accepting the fake news, Robin8 steps in to protect user profiles in the social media scenario. Empowering consumers to monetize their data could make the advertising industry more transparent, scalable and secure to the people using it. Robin8 uses an artificial intelligence engine to rank and profile users based on reach. Facebook and Google are well-known for monetizing people as products through targeted ads and marketing campaigns. Within the Robin8 Blockchain marketplace, buyers that want to access consumer data will have to buy PUT tokens to reward the data owner (e.g., influencer, consumer, content creator). Similarly, if advertisers want people to share/view their content, they will also have to buy Robin8 tokens and pay person viewing or sharing. Token recipients will be able to redeem their coins for cash or used them for future appreciation on the Robin8 platform. In this stage of the project, Robin8 applies the technology in the digital advertising and marketing space, matching, profiling and ranking influencers using AI and Big Data. The platform provides a seamless, scalable advertising channel that focuses on people as the media. Tokenize your crypto life with Robin8 PUT On the Robin8 platform consumer data and personal information is encrypted by Blockchain technology. The ID is available for the public to see, but the identity of all users is concealed. Unlike Twitter, Instagram, Weibo and Facebook, with Robin8 PUT users decide if they want to share their social media engagement with brands and advertisers on the platform. PUT is the official Robin8 token. Developed to work as a solution to a problem, PUT is the reward users get for creating a profile, reading/sharing content, inviting friends or promoting products. The scope of the project is to develop a new kind of social media platform that rewards users for using social media. Trusted, anonymous and secure, Robin8 is developed on the QTUM Blockchain. Miranda Tan, CEO and founder of the project, highlights that Robin8 is a game-changer that aims to disrupt an industry with a transparent business model that gives trust to advertisers and protects the private information and data of the consumer. Backed up by Blockchain technology experts, former CEOs, and skilled engineers, Robin8’s proven business model prides on more than 5,000 completed marketing campaigns and 250,000 micro influencers and content creators. The token scale is scheduled to go live on Jan. 8, 2018. Image: Shutterstock The post A Profile-Based Social Economy Breaks Barriers With Blockchain appeared first on NewsBTC.

New Zealand Government Issues $330,000 Grant to Local Bitcoin Startup

Auckland-based cryptocurrency savings and trading platform Vimba has gotten a $330,000 grant from a government entity Callaghan Innovation. Lauding the largesse of the grantor, Vimba CEO Sam Blackmore commended Callaghan Innovation for its belief in the startup. “This is a truly significant investment from Callaghan Innovation and a real show of faith in the future The post New Zealand Government Issues $330,000 Grant to Local Bitcoin Startup appeared first on CCN

UK Regulator Warns Investors of Rising Cryptocurrency Scams

The Financial Conduct Authority, UK’s financial watchdog, is reminding consumers that cryptocurrency scams are rising in the country. Residents in the United Kingdom who decide to invest in Bitcoin or any other virtual currency are not protected by the regulatory framework given that cryptocurrencies are not regulated by the FCA. £2 Million Lost In Cryptocurrency Scams In June And July Alone A warning of cryptocurrency scams first made in June has been re-posted by the UK regulator to let consumers know that fraudulent schemes are on the rise. “UK consumers are being increasingly targeted by cryptocurrency-related investment scams […] Cryptocurrency fraudsters tend to advertise on social media, often using the images of celebrities or well-known individuals to promote cryptocurrency investments. […] The firms operating the scams are usually based outside of the UK but will claim to have a UK presence, often a prestigious City of London address.” Cryptocurrency swindles include posting images of celebrities supposedly endorsing said coins or tokens, according to the statement. The regulator has observed a rising number of reports about virtual currency scams, but its regulatory framework does not protect UK residents that choose to trade their fiat currency for any digital coin or token. Britain’s financial watchdog has recently warned about two scams that involve companies impersonating respectable UK traders. Good Crypto and Fair Oaks Crypto have quoted the two legitimate firm’s addresses and Firm Reference Numbers as part of the swindle, the FCA said. A report by the National Fraud and Cybercrime Reporting Centre said that approximately £2 million has been lost in cryptocurrency scams in June and July alone this year, an average of £10,095.59 per person. The statement noted that the most prevalent methods used by scammers are cold calls and social media-based campaigns. Fraudsters are able to convince victims to sign up to their websites and provide sensitive information such as credit card details and driving licenses to open a trading account. Victims are then persuaded to make sizable first deposits before realizing it is a fraud, said Director of Action Fraud Pauline Smith. “It’s vital for anyone who invests or is thinking of investing in cryptocurrencies to thoroughly research the company they are choosing to invest with. The statistics show that opportunistic fraudsters are taking advantage of this market, offering investments in cryptocurrencies and using every trick in the book to defraud unsuspecting victims.” As the FCA handles a rising number of virtual currency scam cases, the regulator announced it has launched investigations into 24 different cryptocurrency companies. In March 2018, a task force was also established with the Bank of England and the Treasury to develop UK’s policy thinking on crypto assets. Image from Shutterstock The post UK Regulator Warns Investors of Rising Cryptocurrency Scams appeared first on NewsBTC.

Bitcoin Scams Swindle Singapore Investors for $78,000 in 3 Months

Between September and November 2018, a total sum of $78,000 was lost to cryptocurrency scammers in Singapore after they used a series of strategies involving spreading false information about fake investments online to attract investors. A Straits Times report reveals that the scams were specifically designed to appeal to Singaporean residents by using well-known local personalities The post Bitcoin Scams Swindle Singapore Investors for $78,000 in 3 Months appeared first on CCN

Crypto dark pool ecosystem Ren partners with privacy protocol AZTEC

Ren, an ecosystem to transfer tokens in zero-knowledge, swap between blockchains and trade on a dark pool and AZTEC, a zero-knowledge privacy protocol, and exchange settlement standard — today announced a...

Every Financial Portfolio Should Include Bitcoin, New Research Paper Suggests

The viability of investments into cryptocurrencies is a hotly debated topic. While many investors large and small are still skeptical about virtual currencies like Bitcoin, a growing number of people are starting to come around. In many nations, especially ones fraught with economic and political instability, virtual currencies offer an alternative way to hedge against The post Every Financial Portfolio Should Include Bitcoin, New Research Paper Suggests appeared first on CCN

Litecoin Takes a Dip as LitePay Ceases Operations

Litecoin has taken a significant price hit since promised payment processor LitePay has informed them that it has closed up shop. What Went Wrong? On Monday, March 26 the Litecoin Foundation, a non-profit dedicated to the advancement of Litecoin and an investor in LitePay, announced on its website that LitePay CEO Kenneth Asare informed them that LitePay had ceased operations and was being sold. As news that LitePay had folded went public Litecoin dropped down to $141 having lost nearly ten percent of its value since 4:08 ET. Continuing on a downward trend of losing 28% this month and over 37% so far in the year according to CoinMarketCap. Litecoin experienced a mid-February bump when LitePay announced its merchant payment processing system for Litecoin would be up and running on Feb. 26. As the go date came and went LitePay eventually sent an email to customers on March 5 saying that it was “checking all perspective merchants” and suspending card registrations “due to the negative perception and drastic actions card issuers have towards cryptocurrency companies.” This statement was in reaction to an announcement made by Mastercard and Visa that they were changing the way cryptocurrency transactions would be processed from purchases to cash advances resulting in more fees for users. LitePay was supposed to be an easy way to make cryptocurrency transactions anywhere with only a couple of clicks of the mouse. It was also supposed to include LitePay Debit Cards. Cards that would enable users to transfer Litecoin units from any digital wallet to the card in order to pay for goods and services wherever major credit cards are accepted. It was also supposed to enable the exchange of LTC to any currency in the world via ATM. Litepay has not sent out a customer update since the March 5 email. Charlie Lee Reacts The Litecoin Foundation said it had refused a request from Asare for more funding after his “Ask Me Anything” Reddit session raised serious questions about what the funding was for. The creator of Litecoin Charlie Lee took to Twitter to express his disappointment and to apologize for not thoroughly vetting Litepay before throwing the support of the Litecoin foundation behind the venture, he wrote. Like everyone else, we got too excited about something that was too good to be true and we optimistically overlooked many of the warning signs. I am sorry for having hyped up this company and vow to do better due diligence in the future. https://t.co/khIjeHnyZ1 — Charlie Lee [LTC] (@SatoshiLite) March 26, 2018 The declines Litecoin experienced on Monday were felt by other coins as well. Bitcoin went under $8,000 as the all top ten Cryptocurrencies fell into the red according to CoinMarketCap. The Litecoin Foundation looked to reassure it’s investors by posting “Litecoin was doing perfectly fine before the promise of LitePay and will continue to do so,” on its site. The post Litecoin Takes a Dip as LitePay Ceases Operations appeared first on NewsBTC.

BTC-e Operator Alexander Vinnik Terminates His Hunger Strike

The alleged operator of the infamous BTC-e exchange, Alexander Vinnik,...

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