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China Are Blocking Bitcoin As The Banks Expand To The Blockchain

According to reports out today, the Bank of Communications, one of the four major state banking groups in China have completed a major transaction on the blockchain, one that has seen the issue of residential mortgage backed securities (RMBSs) on a blockchain network. The issuance of this RMBS has a value of around $1.3 billion according to Coindesk. The Bank of Communications is alleged to have been the main bank behind this, though some involvement may have also come from the China International Capital Corporation, the Commercial Bank of China and the China Merchants Bank. What are the benefits to...

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The Uncertain Future Of Blockchain

The future of blockchain is as uncertain as the future of Bitcoin. The word in itself has become a bit of a buzzword in the business but how does it fit into the higher education sector? Experts have predicted that in the future, blockchain will be able to automate multiple tasks and upend banking, education and even healthcare. For the many fanatics of blockchain, there really isn’t anything it can’t do - essentially it holds the answer to almost everything including, cancer, poverty, copyright management and so on. Even governments are interested by the potential of the blockchain. College courses...

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Diamond-Backed Token Makes Debut On First Exchange

Blockchain is enabling the tokenization of physical commodities such as oil (Venezuela's petro token), real estate and gold (Ekon coin). CARAT token is making its debut this week on Taiwan-based exchange Hotbit and it enables investors to hold digital coins that are backed by real diamonds. But you may not want to give these tokens to your spouse as substitute for the real thing. Israeli venture Carats.io is the brainchild of the digitized luxury commodity, and its first exchange listing shows the promise of how blockchain can facilitate efficient cross-border payments and investing in the shiny rocks. Carats.io operates through...

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Amazon Cloud Blockchain Test Finds Its Way Faster Than Bitcoin

CSIRO, Australia’s National Science Agency, in partnership with Sydney University have revealed that, through using the Amazon Cloud, the pair have managed to achieve a blockchain transaction settling time of 30,000 transactions per second. Bearing in mind that Bitcoin can settle around 8 transactions per second and that Ethereum can achieve around 15 transactions per second, CSIRO’s findings are actually quite significant. According to CSIRO, this came about through an experiment on the Amazon Web Services AWS cloud infrastructure. Named ‘Red Belly Blockchain’ the experiment was tested on 1,000 machines across Europe, Australia, North America and South America. Red Belly...

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FBI And IRS Unmasking Crypto Investors By Paying Firms

Uncle Sam is snooping on crypto investors, many of whom believe they're transacting anonymously on the web. U.S. government spending on blockchain analytics has nearly tripled — $5.7 million to date in 2018 compared to $1.9 million last year, according to Sept. 25 Diar report. Some of those funds are used to unmask digital identities. Agencies are awarding contracts to blockchain analysis firms with much of the taxpayer-funded dollars having been awarded to New York-based Chainalysis. "Blockchain analysis is … frequently used by law enforcement agencies to identify illegal activity and attempt to link identities to pseudo anonymous bitcoin addresses."...

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