Polish city becomes first to adopt Ethereum blockchain for emergency services

Olsztyn, Poland is reportedly the first city in the world to leverage Ethereum’s blockchain to aid the provision of emergency services, offering yet another tangible use case for distributed ledger technology.  Olsztyn has completed a successful trial run of SmartKey, a bridging technology that connects blockchain with physical assets, to aid in police, fire and ambulance services. SmartKey will reportedly enable rescue teams to perform their jobs more efficiently by connecting a smart contract to Teltonika smart devices that are used by local rescue teams. This connection enables emergency crews…

What happens to your Bitcoin when you die?

As cryptocurrency investment becomes more and more popular, long-term investors are increasingly concerned with the uncomfortable question: what happens to your Bitcoin (BTC) when you die?  According to a 2020 study by the Cremation Institute, nearly 90% of crypto owners are worried about what happens to their crypto after they pass away. Furthermore, despite a high level of concern, crypto holders are reportedly four times less likely to use wills for inheritances than non-crypto investors. As explained in its white paper, Bitcoin is a purely peer-to-peer version of electronic cash…

Bloomberg lists 5 bullish trends for Bitcoin price despite ‘Thanksgiving crash’

Bitcoin (BTC) continues to convert some of its harshest traditional critics from mainstream finance as Bloomberg admits that this bull run is nothing like 2017.  In an article on Nov. 27, the publication known for its pessimism highlighted a range of Bitcoin metrics pointing to a bullish future — despite Thursday’s $3,000 price rout. Bloomberg: Bitcoin market “far more liquid” Included as evidence were record-high Bitcoin futures open interest, non-zero wallet numbers, hash rate and the lack of correlation between Bitcoin and other macro assets. “Just look at market technicals…

Ethereum Classic plans ‘Thanos’ hard fork to restore mining with older GPUs

Ethereum Classic (ETC) is planning to execute the Thanos hard fork, an upgrade that would ensure several more years of mining functionality for graphics cards with 4 gigabytes of RAM. The upgrade, scheduled for block 11,700,000 — set to be mined between Nov. 28 and Nov. 29 — will roll back the epoch parameter for Ethereum Classic’s mining algorithm, Ethash. Ethash features a set of precomputed data used during the mining process, called DAG. The data set grows at a rate of about one gigabyte every 18 months, and is…

Huobi launches regulated crypto exchange in Malaysia

Huobi Global, Huobi Group’s flagship crypto exchange headquartered in Singapore, may have had a rocky fall in 2020 — at least, as circulating FUD and the rumors go. Today, Nov. 27,  the brand has better news to announce, with the launch of another, independent platform licensed to use the Huobi name.  Targeted at the Malaysian market, the new Huobi Labuan is launching trading services shortly after having secured a digital asset trading brokerage service license from Malaysian authorities in Sept. 2020. For an initial nine-month trial period, the new platform will…

Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi

The PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities worth $4.2 billion at today’s prices. According to court filings released publicly on Nov. 19 and posted by The Block, authorities seized a staggering 194,775 Bitcoin (BTC), 833,083 Ether (ETH), 1.4 million Litecoin (LTC), 27.6 million EOS, 74,167 Dash, 487 million XRP, 6 billion Dogecoin (DOGE), 79,581 Bitcoin Cash (BCH) and 213,724 Tether (USDT) from seven individuals convicted in the case. According to…

Exchanges outdo auctions for governments cashing in criminal crypto, says exec

Earlier this week, Lithuania’s tax service, the Lithuanian State Tax Inspectorate, added $7.6 million dollars to the state budget through the sale of cryptocurrencies seized in criminal investigations.  The occasion marked the first time that the Lithuanian government liquidated confiscated cryptocurrencies. In doing so, the country joined the growing number of jurisdictions worldwide that have auctioned off or sold cryptos obtained by the long arm of the law.  However, unlike the United States Federal Marshals, which netted $37 million at auction from confiscated crypto last February, the STI opted to…

Bitcoin price dives back under $16,900 as whale deposits spike again

The price of Bitcoin (BTC) dropped below $16,900 again on Nov. 27 across top exchanges, including Binance. The recent pullback comes as whale exchange deposits started to increase. Ki Young Ju, the CEO of CryptoQuant, reported that the All Exchange Inflows Mean indicator reached the “danger zone.” Historically, this caused BTC to suffer short-term corrections. Bitcoin struggles to regain momentum above $17,000 After the price of Bitcoin briefly dropped to $16,200 on Nov. 27, it started to show some signs of recovery. It remained above the $17,000 level for over…

Facebook’s Libra to reportedly launch in January 2021 as USD stablecoin

The long-awaited digital currency Libra could finally see the light of day as soon as January 2021, according to a new report. Following more than a year of scrutiny from global financial regulators, Libra will launch in a form of a United States dollar-backed digital currency, the Financial Times reported on Nov. 27. Citing three people involved in the Libra project, the Financial Times states that the Libra Association plans will eventually add more fiat currencies to the basket of assets that back Libra’s value. Expected in January, the exact launch…