Category Archives: Blockchain

India’s Government Ramps Up Scrutiny of Cryptocurrency Payments

Claims of cryptocurrencies being possibly used for terrorism and contraband purchases dates back several years now and are almost as old as the market itself. So far, however, there has been no major evidence linking the two, apart from the Silk Road scandal that revealed bitcoin to be the primary vehicle for drug and armament related transactions. Despite that fact, it is important to note that cryptocurrencies, including bitcoin, have found several legitimate uses. It is clear now that India does not wish to embrace cryptocurrencies as a payment alternative and instead, regulate them as a new asset class. Such behavior has been demonstrated by several governments in the past, including the United States. After all, permitting payments in cryptocurrency allows people to bypass state-backed fiat currencies entirely.

Reference: https://www.ccn.com/

Bitmart Opens Africa’s First Retail Store

Bitmart has been the leading Bitcoin mining hardware supplier in South Africa since 2015. The company which is run on a tight schedule by CEO Jacques Serfontein and a team of crypto professionals, supplies miners to almost every corner of the globe. The Bitmart brand is a favourite amongst the crypto communities in Japan, Canada, Sri Lanka, North America, Dubai, Abu Dhabi, New Zealand, Australia, England and Europe. Other specialty services include GPU Mining Rigs and GPU mining hardware components, GPU Rig mining software and international mining rig monitor app. Bitmart’s GPU Rigs can be used to mine Ethereum, ZCash, Monero, Electroneum and Bitcoin Gold to name but a few.

Reference: https://www.ccn.com/bitmart-opens-africas-first-retail-store/

Facebook Messenger Unlikely to Support Crypto

Facebook Messenger is unlikely to embrace cryptocurrency payments anytime soon according to David Marcus, Facebook’s vice president of messaging. In a recent interview with CNBC, the former president of PayPal pointed to perceived issues with existing cryptocurrencies, specifying high transaction fees and slow transaction times as reasons why the product isn’t likely to introduce the technology as a payment method, at least in the near term. However, Marcus, who joined the board of Coinbase in late 2017, did leave the door open to allowing such payments in the future, saying that when blockchain developer communities “fix all the issues,” it’s possible that the company will “do something” to open up the option.

Reference: https://www.coindesk.com/ex-paypal-president-facebook-messenger-unlikely-support-crypto/

LSK Gets Listed On BitFlyer And Huobi.pro

LSK, the utility token underpinning the Lisk platform, has been listed on BitFlyer and Huobi.pro, a move that comes just a few weeks before its scheduled relaunch event later this month which will unveil an updated and improved Lisk platform and a new brand identity and website. LSK is the token that powers the Lisk network. The cryptocurrency currently stands as the 16th largest in the world by market capitalization at US$1.59 billion. LSK is trading at about US$13, down nearly 54% from January 01’s price of US$20. “Today’s announcement caps a very successful week for Lisk, following Wednesday’s debut of our LSK token on the BitFlyer exchange,” said Max Kordek, co-founder and CEO of Lisk. “The addition of LSK to the Huobi.pro exchange elevates the status of our platform as we approach our relaunch event on February 20, in Berlin, and strengthens our ambition to be the enablers of innovation, making blockchain technology more accessible to everyone.”

Reference: https://coinjournal.net/lsk-gets-listed-bitflyer-huobi-pro-ahead-relaunch-event/

New York Wants a Piece of the Ever Growing Bitcoin Mining

The New York Power Authority has approved the allocation of 15,000 kilowatts of hydroelectric power to a new bitcoin mining venture by Coinmint, the North Country Data Center Corp (NCDC), pending the approval of a contract within a year. Coinmint, which currently operates a bitcoin mining facility in Plattsburgh, expects that the cryptocurrency market will continue to grow worldwide and thus seeks to expand its business to a second facility. According to the proposal plan, the power allocation would support capital investment of at least $165 million and the creation of 150 new jobs in connection with the proposed project. The plan will involve renovating a former metal smelting facility in Massena, and the installation and operation of up to 180,000 specialized bitcoin mining systems within two years. Once complete and fully operational, the NCDC expects to handle 15 percent of the global cryptocurrency business.

Reference: https://news.bitcoin.com/new-york-wants-a-piece-of-the-ever-growing-bitcoin-mining-pie/