Playboy Enterprises, Inc. has announced it is launching its own cryptocurrency as part of an online payment wallet under development. The wallet will service the company’s digital media and casual gaming businesses and will accept other cryptocurrencies in addition to its own. The first of the company’s platforms to feature the new wallet will be Playboy.TV. The wallet will accept Playboy’s Vice Industry Token (VIT) for access to exclusive content. Customers will pay and earn VIT tokens to view original content. Customers will also be able t o comment on and vote for content. Continue reading Playboy to Launch Its Own Cryptocurrency
The Coinbase wallet and exchange service has fixed a bug in the payment gateway system which caused users to lose their funds from Bitcoin transactions via the platform. The issue emerged two weeks after the cryptocurrency exchange announced the launch of Segregated Witness (SegWit) support for its transactions. Continue reading Coinbase Wallet Fixes SegWit Implementation Bug
As of today, Tokyo-based Coincheck has begun distributing reparations to users impacted by the infamous late January theft of some $530 million in NEM. With an announcement on its website today, Coincheck has begun reimbursing funds – in JPY – to the account balances of users who held NEM at the time of the theft on January 26th. The refund value will be at a fixed rate of 88.549 Japanese yen, approx. $0.83 per NEM token stolen at the time. That’s over twice the current trading value of NEM’s XEM token, at just under $0.40 at press time. Continue reading Japanese Exchange Coincheck Begins JPY Refunds for NEM Hack Victims
In its ever-expanding foray into the cryptocurrency sector, Japanese financial group SBI has now invested in a Taiwan-based cryptocurrency hardware wallet developer. SBI Holdings, the financial services division of Japan’s SBI Group, has announced its 40% ownership stake in Taiwanese crypto hardware wallet maker CoolBitX. An announcement by SBI Holdings does not reveal the exact amount of the investment in CoolBittX, a hardware maker that specializes in cold wallets. With its growing portfolio of cryptocurrency-related businesses and operations, SBI Holdings revealed its intent to utilize CoolBitX’s security technology for risk management within its company in areas including the maintenance of customer assets, to further enhance security. The Japanese conglomerate makes a specific mention of CoolBitX’s ‘CoolWallet’, a hardware device used to store private keys to cryptocurrencies that interfaces with iOS and Android devices via Bluetooth. SBI Holdings, through its venture capital arm SBI Investment, became one of the world’s earliest mainstream conglomerates serving traditional finance to invest in bitcoin exchange Kraken in early 2016. The Japanese financial group followed up with another investment as lead investor in bitFlyer, Japan’s largest and best-funded cryptocurrency exchange. In late 2016, SBI announced its intention to launch its own cryptocurrency exchange win what would be the country’s first bank-backed exchange platform. Despite its registration with Japan’s financial regulator, the launch of the exchange has been postponed due to security concerns, as reported recently.
Blockchain technology is growing really fast with a lot of innovation happening within the industry. There is a massive influx of products and projects that promise various solutions to regular day to day activities. As with every new technology, numerous ideas with diverse intentions are bound to flood the ecosystem, but the line between sustenance and extinction lies at the point of real use case application. As the industry grows, it is expected to mature into the era of implementation. In order for this to happen, there must be means by which the communication gap between non-crypto users and the ecosystem will be bridged. For instance, the whole concept of Bitcoin transaction is still a mystery to a lot of people who do not understand how a long series of codes can represent key components of value transfer. Same goes to non-tech people who do not understand how data can be stored on a system that is maintained by nodes that are connected across the globe.