August 2022 - CryptoCurrencyWire

WednesdayAug 31, 2022 12:45 pm

Report Says Morgan Stanley, Google, BlackRock are Pouring Billions into Crypto and Blockchain Tech

Corporate interest in blockchain has been on the rise in recent months despite the downturn in crypto prices. A report from cryptography analytics platform Blockdata reveals that rather than shy away from blockchain in the wake of reducing crypto prices, the world’s top companies have poured billions of dollars’ worth of investment into the nascent blockchain and crypto market over the past 10 months. The Blockdata report revealed that 40 of the top 100 companies on the globe by market capitalization are reportedly investing billions of dollars into cryptocurrency and blockchain companies, reaching a total of around $6 billion into…

MondayAug 29, 2022 12:45 pm

The EU Could Use Blockchain Technology to Process Asylum Applications

Blockchain technology doesn’t seem to be going anywhere soon. Although the crypto market that catapulted blockchain into the mainstream is experiencing historically low prices, blockchain is currently riding high. Companies across several industries are considering integrating blockchain into their structure due to its decentralized nature, which offers increased security, privacy and traceability. Now, it seems that blockchain could play a major role in humanitarian efforts in Europe in the wake of Russia’s unprovoked attack on Ukraine. The Russia-Ukraine war has resulted in the largest influx of immigrants across the European Union. While the 2015 North Africa and the Middle East…

FridayAug 26, 2022 12:45 pm

Blockchain Security Auditors on High Demand as Hacking Threats Escalate

As more reports of cryptocurrency hackings make the news, the demand for experts in blockchain security has risen, with some of these professionals earning in excess of $430,000 annually. Neil Dundon, the founder of blockchain recruitment company CryptoRecruit, indicated that for a long time, the demand for audit services in the blockchain space has been high. However, the growing number of defi (decentralized finance) protocols has upped the ante and created a soaring demand for experts who can review these protocols and identify any vulnerabilities in the smart contracts upon which these defi systems run. This emphasis on blockchain security…

WednesdayAug 24, 2022 12:00 pm

World Bank Affiliate Looks to Blockchain to Facilitate Carbon Trading

Blockchain technology doesn’t seem to be disappearing anytime soon. Despite the cryptocurrency market experiencing significant losses over the past couple of months, with major cryptos such as Bitcoin and Ethereum losing more than 50% of their value, the use of the underlying blockchain technology around the world is on the rise. Last week, a World Bank affiliate announced that it was backing a blockchain-based platform to facilitate carbon trading. Carbon trading is a system that allows enterprises to emit a certain level of carbon dioxide with the goal of reducing emissions over time by buying permits and credits. International Finance…

WednesdayAug 24, 2022 11:36 am

Crypto Fest 2022: Looking Up to Post-Winter Opportunities

The festival is set to be the largest gathering of crypto-minded experts, amateurs, and enthusiasts in Africa, to explore the technology’s impact on Web 3.0 and emerging opportunities for investors. Conflict in Europe and skyrocketing interest rates in the US have put cryptocurrencies in the midst of one of the worst market crashes in the technology’s history. Bitcoin and Ethereum dropped more than 70 percent since the peak of last year’s bull run, while several high-profile crypto companies shut their doors as the size of the industry fell below US$1 trillion – a significant decrease from just a few months…

MondayAug 22, 2022 12:00 pm

Securities Affiliate of Hyundai to Add Crypto to Its Asset Management Arm

Despite the fact that the crypto market has lost more than $2 trillion over the last couple of months as most cryptos have dropped significantly in value, companies are still keen on taking advantage of cryptocurrencies. Bitcoin and Ethereum saw their prices drop by more than 50% while a multitude of other cryptocurrencies went down by more than 90%. Even so, several industries are looking to leverage cryptocurrency and its underlying blockchain technology to meet their various goals. Hyundai Motor Securities recently announced that it will incorporate information on its client’s cryptocurrency holdings onto MyData, its asset management arm. MyData…

FridayAug 19, 2022 11:15 am

Reddit Unveils Another Method of Accepting Crypto Community Points

Redditors will be able to purchase Ethereum directly on the Reddit app using Community Points after the online forum partnered with crypto exchange giant FTX. The partnership will provide Reddit users with a new way to accept crypto payments and unlock cryptocurrency-enabled perks for the platform’s community points. Only Reddit users on the subreddits r/FortniteBR and r/Cryptocurrency, which cumulatively have more than 7 million members, will be able to purchase community points using Ethereum Cryptocurrency. Speaking at a press release, FTX announced that Redditors would be able to use FTX Pay, the crypto exchange’s payment system, to manage their blockchain-based…

WednesdayAug 17, 2022 12:00 pm

Taiwan Looks to Blockchain to Evade Chinese Hackers

Taiwan is planning on leveraging blockchain’s security capabilities to bolster its cyber security and make it more resistant to Chinese cyberattacks. The east Asian country’s government launched the blockchain-based project soon after U.S. Speaker of the House Nancy Pelosi visited the island, the first such visit by a senior-level official in more than two decades. Designed in 2014 by Juan Benet, the InterPlanetary File System (IPFS) will allow Taiwan’s Ministry of Digital Affairs to protect its infrastructure from online attacks. Built using blockchain technology, IPFS is a decentralized peer-to-peer network that allows users to circumvent centralized points of failure by…

WednesdayAug 17, 2022 9:00 am

LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Leverages Bitcoin Lightning Network Across 19 Countries and Capacity Exceeding 30 BTC

The Lightning Network has seen substantial growth over the past few years, doubling capacity year-over-year, and currently offers a capacity of over 4,500 BTC across thousands of channels worldwide LQwD currently spans 19 countries, including Japan, England, Canada, France, Australia, Italy, Indonesia, Japan-Osaka, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, Ireland, and US-West LQwD’s PaaS offering provides Lightning Network node and channel management, LSP for merchants, and an easy-to-use API for even novice BTC owners The Lightning Network, a layer 2 payment protocol on the Bitcoin blockchain, set its first capacity record in August 2020,…

MondayAug 15, 2022 11:30 am

Cryptocurrencies Appear to Have Seen the Worst of Crypto Winter

In June, the global cryptocurrency market experienced a significant slump after crypto lending company Celcius Network froze transfers and withdrawals due to “extreme conditions.” Although the crypto decline had begun as early as November 2020 when Bitcoin saw its value fall below $20,000, the market nearly collapsed in June as a majority of cryptocurrencies saw their values drop by more than 90%. Bitcoin, which is the largest and most popular cryptocurrency in the world, dropped in value by more than 70% while Ethereum fell past $1,000. Crypto prices began to level out after the drop in June, with Bitcoin leveling…