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| December 12, 2018

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The Daily: US Defense Department Probes Blockchain, Singapore Approves 1X

November 25, 2018 |

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1X

In today’s edition of The Daily, we cover cryptocurrency-related news from different parts of the world. In the U.S., documents have revealed that an arm of the Pentagon plans to investigate the technology behind Bitcoin, while a teenager in Israel has been convicted of making bomb threats in exchange for BTC. In India, a major accounting firm has announced plans to hire more digital talent, and a capital-raising platform that intends to support security tokens has obtained regulatory approval in Singapore. 

Also Read: Miner Goes Bankrupt, Manufacturers Stuck With Inventory, Rigs ‘Sold By Kilo’ as Scrap

Darpa to Investigate Consensus Protocols

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1XThe Defense Advanced Research Projects Agency (Darpa) is the Pentagon’s arm for investing in cutting-edge technologies such as autonomous cars, drone swarms and humanoid robots. According to a recent request for information document, the agency intends to hold a workshop in February 2019 to investigate the technology powering Bitcoin.

“Technologies for distributed consensus protocols have been revolutionized by their prominent role in cryptocurrency and blockchain technologies. These technologies have dramatic implications for the security and resilience of critical data storage and computation tasks, including for the Department of Defense (DoD),” the agency explained. “At the same time, the concrete applications and security of these technologies for the DoD is unclear. Darpa is interested in better understanding the broader implications that such technologies may play for the DoD.”

This isn’t the agency’s first exposure to the matter. Two years ago it signed a $ 1.8 million deal with two tech firms to study the use of blockchain to secure sensitive military data.

Autistic Teen Sent to 10 Years in Jail

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1XA 19-year-old suffering from severe autism was sentenced to 10 years in jail on Thursday. The young man from Ashkelon, Israel, was found guilty of making fake bomb threats to schools, airlines, embassies and many other locations around the world since he was about 16.

An investigation by the Israeli cyber police found that the young man had offered his services on the darknet, charging $ 40 to call a private residence, $ 80 to threaten a school for kids that didn’t want to face an exam, and $ 500 to say he had put a bomb on a flight. He reportedly earned almost 184 BTC from his illegal ventures, but the authorities were not able to recover the loot, as he refused to hand over his private keys. He was spared from a possible maximum sentence of 17 years in jail due to his age and medical/mental condition.

EY to Expand Blockchain Staff in India

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1XErnst & Young (EY), one of the Big Four global accounting firms, is set to expand its Indian workforce by about 2,000 people over the next couple of years. The new hires are needed to serve clients that work with technologies such as artificial intelligence and blockchain.

“There is significant capital available for new startups and big Indian companies are investing in digital,” Ram Sarvepalli, partner emerging markets at EY told Indian daily The Economic Times. “The government is heavily investing in digital from a citizen services perspective. Many of the traditional customer-oriented industries are trying to find models which allow access to customers to tier-two, tier-three towns from a digital perspective. There are regulatory changes like… e-filing and automation of central and state govt departments … all of this is triggering a massive opportunity and the need for hiring digital talent.”

Singapore Regulator Approves 1exchange

The Daily: US Defense Department Probes Blockchain, Singapore Approves 1XPrivate capital platform Capbridge Pte. has announced that it has received approval from the Monetary Authority of Singapore to run its new 1exchange (1X) as a recognized market operator. The company is working with Consensys to builf a fully compliant private securities exchange on the public Ethereum blockchain. The developers promise that, “in due course,” the regulated exchange will offer services that include the listing and trading of security tokens.

Johnson Chen, founder and CEO of Capbridge commented: “We can now offer an even more integrated suite of private capital services to deserving companies seeking growth capital and sophisticated investors looking for alternative growth options.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post The Daily: US Defense Department Probes Blockchain, Singapore Approves 1X appeared first on Bitcoin News.

Bitcoin News

Major Venezuelan Department Store Chain Accepts Cryptocurrency

November 18, 2018 |

The people of Venezuela have been forced to cope with an increasingly difficult economic situation in recent years. This has led to a loss of trust in government-issued fiat by the population in a way that many believe exemplifies the need for cryptocurrency. This may account for why a major Venezuelan department store chain accepts cryptocurrency, something which is a rarity to see in more prospering economies.

Also Read: Coinbase Ventures Backs Home Crypto Mining Startup Coinmine

Traki Accepts Cryptocurrency Payments

Traki is a large chain of department stores operating in Venezuela for over 30 years. It encompasses 49 branches in many major cities across the country, selling everything from fashion to food and cookware.

According to its public profiles on social media, the company has opened up to transactions with digital assets since at least October. Traki accepts payments in a number of popular cryptocurrencies including bitcoin cash (BCH), bitcoin core (BTC), dash (DASH), ethereum (ETH) and litecoin (LTC).

Show of Support by Crypto Community

Major Venezuelan Department Store Chain Accepts CryptocurrencyDue largely to government policies, exacerbated by a fall in revenue from oil exports, the economy in Venezuela has been in a sharp decline for years. Inflation in the country is expected to reach over one million percent by the end of 2018, and consumer prices are projected to rise by another ten million percent in 2019 according to recent data from the International Monetary Fund.

The situation in Venezuela has pushed many in the crypto community to try and promote digital assets as a solution to the problem unabated fiat printing has caused. A number of charities have also formed, such as the Eatbch initiative which we recently reported on.

On Friday, we received another example of cryptocurrency being used for good in Venezuela as a Reddit user spoke of buying over 800 items at Traki with donated BTC. She showed a video of herself buying clothing and school supplies with the funds that will be gifted to kids in need.

Is the economic situation in Venezuela likely to convince more people in the country to turn to cryptocurrency? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Major Venezuelan Department Store Chain Accepts Cryptocurrency appeared first on Bitcoin News.

Bitcoin News

Gregg Jarrett: Jeff Sessions and Rod Rosenstein should leave their top Justice Department jobs soon

October 12, 2018 |

Attorney General Jeff Sessions and Deputy Rod Rosenstein should lose their jobs because of enormous harm they’ve caused.
FOX News

Justice Department approves $69-billion merger between CVS Health and Aetna

October 10, 2018 |

CVS Health Corp.’s plan to buy Aetna Inc. for $ 69 billion was cleared by U.S. antitrust regulators Wednesday, paving the way for the nation’s largest pharmacy chain to acquire one of the largest healthcare insurers.

The deal was approved because Aetna has agreed to sell its Medicare prescription-drug…


L.A. Times – Business

Drunken Birds Prompt Calls to Minn. Police Department

October 5, 2018 |

Apparently, the birds of Gilbert, Minn., can’t handle their liquor. Case in point: The police department there has received several reports of birds that “appear to be ‘under the influence’ flying into windows, cars, and acting confused,” according to a police department statement released this week. The culprit? An early…
Newser

CNN

State Department confirms Pompeo received letter from Kim to Trump

September 8, 2018 |

Secretary of State Mike Pompeo has received a letter from Kim Jong Un to US President Donald Trump, according to a State Department official.
CNN.com – RSS Channel – World

Trump Wants Justice Department to Unmask Op-Ed Writer

September 7, 2018 |

President Trump has demanded that the New York Times reveal the name of the person who penned a scathing anonymous op-ed against him this week, and a Washington Post report noted that “startled” White House aides are even scrutinizing the opinion piece’s language patterns to see if they could tie…
Newser

State Department Issues Travel Advisory for Mexico

August 23, 2018 |

The US State Department has issued a travel advisory for Mexico, saying that travelers to the country should “exercise increased caution” in general and avoid several states altogether. “Violent crime, such as homicide, kidnapping, carjacking, and robbery, are widespread, according to the advisory issued Wednesday. Among the states listed as…
Newser

Justice Department Creates ‘Religious Liberty Task Force’

July 30, 2018 |

Last year, President Trump signed an executive order on religious freedom , and now the Department of Justice is creating a “religious liberty task force” to implement the guidance that was issued as a result of that order. Attorney General Jeff Sessions announced the task force Monday during the DoJ’s religious…
Newser

Government’s 2nd-Largest Department Gets a Leader

July 24, 2018 |

The government’s second largest department once again has a leader. The Senate voted 86-9 Monday to confirm Robert Wilkie as the 10th secretary of Veterans Affairs, filling a post that was previously occupied by David Shulkin. President Trump’s original pick to replace Shulkin, White House physician Ronny Jackson, ended up…
Newser