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12 Nov

Study Shows that Private Blockchains Might be Compatible with EU GDPR Privacy Rules

By Zach Blockchain, EU, GDPR Read Comments

As you may already know, blockchain technology has massive potential to disrupt numerous industries throughout the world. However, the worldwide adoption of the technology is only possible with a supportive regulatory framework.

A study carried out by the University of Cambridge in partnership with the Queen Mary University of London, discusses whether private blockchains are compatible with the recently-adopted European Union GDPR privacy law.

To put things better into perspective, the GDPR law is responsible for regulating how personal data of EU citizens is stored and processed. As such, all companies that control personal data operating within the EU must respect a set of rules concerning the storage, transfer and use of personal data. Failure to do so leads to a fine as large as €20 million EUR, or a percentage of the global revenues obtained by the company breaching the law.


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29 Oct

Is the Majority of the Cryptocurrency Market Centralised? A Research Study Thinks So!

By Daniel Zo SEC, Fiat, ICO, Ethereum, Ripple, CryptoCompare Read Comments

One of the biggest advantages that cryptocurrencies have over their fiat counterparts is the decentralized status, which provides higher security, reduces attack risks, and ensures that coins are not controlled by a central entity. Despite this aspect, recent research has concluded that the majority of digital assets available on the market are centralized.

To put things better into perspective, CryptoCompare, which is a market data aggregator, has recently published a digital asset analysis for over 200 coins. The authors analysed the digital assets from a variety of different perspectives, and using more than 30 attributes. When doing the analysis, researchers considered the supply concentration, distribution, market cap, governance, volume data, regulatory classification, and decentralized status of the coins.


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23 Oct

The Japanese Tax Commission is Lobbying for Better Crypto Taxation Policies

By Daniel Zo Japan, Tax, Crypto Read Comments

As Bitcoin and other digital currencies became more relevant for the world’s financial system, numerous countries have started regulating the cryptocurrency market. One of the most important efforts was focused towards crypto taxation policies.

Now, recent reports indicate that the Japanese Tax Commission is unsatisfied with Japan’s current crypto taxation system, and is urging the country’s National Assembly to introduce new guidelines. This is great news for the Japanese crypto community, granted that until now, reporting crypto gains and investment profits was a confusing and exhausting experience. This aspect discouraged crypto users from disclosing their taxes, and put them at risk.


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07 Oct

United Nations Food Programme Leveraging Blockchain Technology for Supply Chain and Identity Management Purposes

By Daniel Zo Blockchain, WFP, Africa, UN, Read Comments

The potential of blockchain technology for supply chain purposes has often been praised by experts throughout the world. Now, recent reports indicate that the United Nations World Food Programme, commonly known as the WFP, will begin blockchain-based supply chain management testing in Africa.

With this in mind, the WFP has tested out a similar system for refugee aid purposes in the Middle East. With the project’s newest implementation, blockchain technology will be used to track food delivery in the east African region. More exactly, the blockchain network will track food shipments arriving in Djibouti, on their way to Ethiopia, where the UN’s main food operation camp is located.


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26 Sep

MasterCard Files Several Blockchain-Related Patents as Interest Grows

By Daniel Zo Blockchain, Mastercard Read Comments

MasterCard’s interest in blockchain technology has been peaking over the last couple of months. Now, recent reports indicate that the payment services giant is considering the use of blockchain to better keep track of consumer payments.

According to a recent patent filing, published by the U.S. Patent and Trademark Office, MasterCard explains how distributed ledgers can instantly record point-to-point transactions. The afferent data can then be used by organizations to compile logs consisting of purchased items.


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20 Sep

Ukrainian Parliament Bill to Introduce Crypto Profit Taxing

By Daniel Zo Ukraine, Cryptocurrency, Tax Read Comments

Despite the fluctuating crypto price drops present during the last few months, governments are still interested in regulating and profiting off the digital currency revolution.

With this in mind, recent reports indicate that the Ukrainian Parliament is interested in imposing a tax on digital currency-related profits of its citizens. To put things better into perspective, the country’s legislative body has proposed a bill that would impose a 5% tax on all crypto profits attained by both commercial entities and individuals.


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07 Sep

AT&T Being Sued for $224 Million After Attackers Steal Crypto from Investor’s Phone

By Daniel Zo AT&T, Scam, Cryptocurrency Read Comments

According to recent reports, AT&T might be responsible for the loss of $24 million in cryptocurrency, after the cell phone of a digital currency investor was hacked. With this in mind, Michael Turpin is suing the telecom firm for $224 million, after the company reportedly failed to protect his smartphone data.

As part of his lawsuit, the investor claims that AT&T employees are complicit in a SIM swap scam, where hackers attempt to gain access to phone data via social engineering. In other words, for this scam to work, criminals are known to pose as the owner of a victims’ phone number, hence convincing the customer support teams of telecom providers to grant access to the phone in question. By doing this, attackers get access to a variety of accounts, including digital currency wallets.


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17 Aug

South Korean Government Allocates $880 million to Innovative Technologies like Blockchain

By Daniel Zo South Korea, Blockchain Read Comments

According to recent reports, South Korea’s interest in blockchain technology is peaking, granted that the government has recently decided to allocate a total of $880 million towards the development of innovative technologies, such as blockchain, big data and artificial intelligence.

In a government press release, it was stated that the deputy Prime Minister, Kim Dong Yeon, held a ministerial meeting on the 13th of August, to discuss the country’s investment plans in innovative technologies for the following five years.


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23 Jul

State Bank of Vietnam Decides to Temporarily Ban Crypto Mining Hardware Imports

By Daniel Zo Crypto, Cryptcurrency, Mining, Vietnam Read Comments

According to recent reports, the State Bank of Vietnam, which is also the country’s central bank, announced that it will ban the import of digital currency mining hardware for individuals and companies.

The decision represents the bank’s response to a request filed by the Ministry of Industry and Trade (MoIT). To put things better into perspective, the MoIT has recently suggested a temporary ban that would affect the import of mining hardware. The reasoning behind this is based on the issues concerning the management of currency flows in the region. According to the ministry, the use of mining equipment and cryptocurrencies is making financial management more difficult for the government. So far, mining has not been forbidden, and it is unknown whether the government is considering such a move.


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20 Jul

UK Barclays Corporate Bank Files Two Crypto Patents

By Daniel Zo Barclays, Blockchain, Crypto, Patent Read Comments

According to recent reports, the U.K Barclays bank, which is likely the biggest international corporate bank, has filed two crypto-related patents with the United States Patent and Trademark Office. The decision showcases the existence of a trend among companies, which are actively trying to gain exclusivity over future crypto market technologies.

With this in mind, the first patent is related to ‘a system for transferring cryptocurrency from a payer to a recipient, comprising receiving an identifier of data describing the first entity’. On the other hand, the second patent represents a method and system that ‘records data describing a first entity, the data endorsed by a second entity comprising the second entity validating data describing the first entity, wherein an identifier is associated with the data, the identifier being generated from a public key of the first entity.’


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