Blockchain

Representative Ted Budd (R-NC) has enacted a new law to create an agency to combat the use of cryptocurrencies in terrorism. The bill, H.R. 296, is co-sponsored by Representatives Warren Davidson (R-OH), Stephen Lynch (D-MA), Byron Donalds (R-FL), and Darren Soto (D-FL) and was introduced into jurisdictions following the establishment of the working group. The bill also seeks to provide rewards for information leading to convictions related to digital currency earthquakes. It will establish Fintech's leadership in innovation and financial…

Blockchain technology is never-ending to answer the old scaling issue, and Zilliqa may be the first project to solve it. Using sharding and a hybrid consensus mechanism, Zilliqa provides a secure network for high throughput DApps, eco-friendly dual mining, and non-custodial staking. Zilliqa is less than five years old, and it is evolving at a rapid pace. In this review, we analyze its performance so far as we dissect its functioning mechanisms. What Is Zilliqa? Zilliqa project is the first…

Embattled cryptocurrency Ripple (XRP) faces new problems in 2021 following its legal case with the SEC. The value of XRP has plummeted in recent weeks, and the coin has now dropped to fifth on the coin rankings. XRP Facing Problems on All Fronts It is worth noting that it was only a few weeks ago that Ripple Labs received a lawsuit from the SEC. The US regulatory body had alleged that XRP is unregistered security and deemed sales of XRP…

Bitcoin (BTC) network has experienced massive growth in the last 12 months, with its distributed database increasing daily. In 2020, the Bitcoin blockchain's total size increased by 25%, suggesting that global adoption is on the rise. 25% increase in 2020 According to data from analytical site ycharts, the size of the Bitcoin blockchain stands at 319.69GB. This represents a 25% increase from its previous mark of 256 GB recorded a year ago. The numbers show the accelerated growth of data…

Romania conducted its national election yesterday, 6 December 2020, and the country adopted blockchain technology to boost the transparency and traceability of the electoral process.  The blockchain solution was implemented into Romania’s IT systems and applications used in the parliamentary elections as a complementary solution to guarantee the IT systems' integrity.  Increasing Voters Confidence Using blockchain ensures that no one, including the administrators, can alter or modify the data recorded during the election.  The application was proposed and developed by…

Singapore appears to be taking a step closer towards massive blockchain adoption, according to the latest reports. Today, local news revealed that the Singaporean government had launched a blockchain program called Singapore Blockchain Innovation Program (SBIP). The blockchain program is backed by Enterprise Singapore, the Infocomm Media Development Authority (IMDA), and the National Research Foundation Singapore. $8.9million Grant Made Available For Blockchain Research SIBP was launched with an $8.9 million grant and aimed to strengthen the country’s blockchain infrastructure. SIBP…

Crypto.com has announced that it would be expanding its debit card services in Australia. According to a press release issued today, the exchange revealed that it had secured an Australian Finance Service License (AFSL) via the acquisition of The Card Group Pty Ltd. A Major Milestone For Crypto.Com Crypto.com further stated that securing the license was a major milestone and highlighted its commitment towards local regulatory frameworks. The AFSL license enables Crypto.com to issue cards to Australian residence and expand…

Cryptocurrencies are among the newest blockchain innovations revolutionizing the fintech industry. First implemented in 2009 through Bitcoin, cryptos have experienced an explosion in usage. New cryptocurrencies are always being released to solve blockchain technology issues, a natural evolution in itself. According to CoinMarketCap, there are more than 7700 different cryptocurrencies in circulation. This high and ever-growing number of coins provides a variety of career opportunities that should be on the radar of fintech scholars. This article gives insight into what…

Fraud is among the topmost threats of the global economic world, with a PWC report showing that 47% of companies globally reported fraud in 24 months. Every solution aimed at ending fraud in financial transactions has proven futile. The designation of artificial intelligence, for instance, is to reduce direct human involvement in transactions, thus reducing fraud; however, fraud is still surging every year.  A new financial technology, blockchain, which is just over a decade old, is the ultimate fraud solution.…