NewsRoom Articles - Page 65 of 186

FridaySep 23, 2022 1:30 pm

South Korea’s Biggest Credit Card Issuer Unveils Blockchain System to Identify Counterfeit Goods

A 2019 report from the European Union Intellectual Property Office and the Organization for Economic Cooperation and Development (OECD) revealed that trade in pirated and counterfeit goods accounts for 3.3% of global trade. Based on data from customs seizures in 2016, the total value of counterfeit goods worldwide is $509 billion, up from $461 billion in 2013. Fake goods, especially medical supplies, food, toys, car parts, electrical goods and cosmetic brands, present significant health and safety risks to the public. In addition, they generate billions of dollars in profit for the organized crime syndicates behind counterfeit trade. A major credit…

WednesdaySep 21, 2022 1:30 pm

SWIFT Explores Blockchain Tech to Boost Interbank Communication

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is a global system that allows banks to make cross-border transactions and payments worldwide. Founded in 1973 and headquartered in Belgium, SWIFT serves as the main messaging network for the initiation of international payments. Like several corporations and governments, SWIFT is now considering incorporating blockchain into its network. The global payment system first looked at blockchain five years ago, announcing in January 2017 that it was launching a Proof of Concept (PoC) to determine whether banks could use blockchain technology to enhance the real-time reconciliation of their Nostro databases and optimize their…

MondaySep 19, 2022 1:30 pm

Fidelity, Citadel, and Charles Schwab Team Up to Form Crypto Exchange

Despite significant challenges, the cryptocurrency market seems to be gaining more acceptance each day. Corporations and governments across the world are adopting blockchain into their systems to take advantage of the enhanced security offered by the decentralized technology. Furthermore, companies are investing billions of dollars into cryptocurrency firms in anticipation of a future where crypto plays a significant role in the economy. In a move that is sure to send shock waves through the industry, financial giants Fidelity Digital, Citadel Securities and Charles Schwab have jumped into the crypto market in a major way. The trio announced in a recent…

MondaySep 19, 2022 9:45 am

LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Taps Global Adoption of Bitcoin to Open Payment Opportunities Worldwide Through Use of Lightening Network

Recent Lightning Network statistics show over 17,000 active nodes with more than 87,000 payment channels facilitating a capacity of over 4,500 BTC worldwide LQwD is currently leveraging the Lightning Network with nodes active in the United States, Ireland, India, Germany, Brazil, Hong Kong, Singapore, Sweden, South Korea, South Africa, Bahrain, Indonesia, Italy, Australia, Japan-Osaka, England, Japan, France, and Canada LQwD anticipates increasing node coverage to 24 countries by the end of the current quarter The Lightning Network is a Layer 2 protocol designed to help scale Bitcoin's base layer. It comprises nodes consisting of payment channels that help facilitate affordable,…

FridaySep 16, 2022 12:00 pm

Top-Seven Countries with Strict Crypto Laws

Cryptocurrencies took the world by storm when they were first launched more than a decade ago. By the end of 2015, there were more than 10 million Bitcoin wallets worldwide, highlighting the popularity and explosive growth of the crypto market. Crypto promised to offer faster, more secure, and private transactions via the decentralized blockchain technology it is built on. However, countries have taken to the disruptive technology differently, with some allowing their residents to hold and trade cryptocurrencies while others have passed extremely restrictive crypto laws. The following are the top countries around the world with strict cryptocurrency laws. Russia…

WednesdaySep 14, 2022 12:00 pm

Interoperability Crucial to Mass Adoption of Blockchain Technology

Blockchain and cryptocurrency may be extremely popular with millions of users, but they are still a long way from mass adoption. Meant to disrupt centralized currencies and systems, blockchain offers the benefits of faster transactions, lower transaction costs, and enhanced speed and security. As of July 2022, there were more than 83 million blockchain wallet users, reports Blockchain.com; those numbers underscore the massive popularity of cryptocurrencies and the blockchain technology they are built on. At the moment, there are at least 1,000 blockchains with at least four types of blockchain networks and around 20,000 active cryptocurrencies that rely on blockchain…

MondaySep 12, 2022 12:45 pm

Europol Says Blockchain Vital in Fighting Crime

When cryptocurrencies were first introduced, they promised to deliver low to zero transaction costs, unlimited withdrawals and purchases, fast transaction speeds, and enhanced security and privacy. These features set crypto apart from centralized currencies and attracted millions of users in just a few years. However, the anonymity, security and privacy offered by blockchain also drew in criminals who were looking for a way to move their ill-gotten gains away from the prying eyes of law enforcement. A 2021 report by blockchain analysis firm Chainalysis revealed that criminals laundered a whopping $8.6 billion in cryptocurrency in 2021 alone. The report stated…

FridaySep 09, 2022 12:00 pm

Vitalik Confident Volatility in Cryptocurrency Market Will Stabilize

The past couple of months haven’t been kind to the cryptocurrency market. While cryptos had been steadily declining over the first half of the year, the crypto market crashed in June 2022. Bitcoin prices sank below $20,000 for the first time since late 2020, and Ethereum fell below $1,000. When the dust had settled, major cryptos such asBitcoin and Ethereum had lost more than 50% of their value while a multitude of other cryptos lost more than 90% of their value. Unsurprisingly, investors around the world, especially those who invested big in crypto, have been worried about the future of…

FridaySep 09, 2022 11:15 am

LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Leverages Over 30 BTC Capacity and 300 Channels Across 17 Countries on Lightning Network

The Lightning Network offers consumers increased transaction speeds, worldwide access, and lower fees when sending micropayments across its nodes LQwD is leveraging the Lightning Network using its own Bitcoin assets to provide solutions for consumers; company plans to expand reach to 24 countries worldwide by the end of the current quarter The need for transparency in the financial industry is fueling the growth of the cryptocurrency market, with an anticipated value of US $4.94 billion by 2030 The concept of The Lightning Network was brought to the general public in 2015 when Bitcoin developers Joseph Poon and Thaddeus Dryja published…

WednesdaySep 07, 2022 12:00 pm

FBI Advises Blockchain DeFi Firms to Boost Security as Cyberattacks Increase

Cryptocurrencies took the world by storm when Bitcoin was first introduced, acting as the world’s first decentralized online currency. The crypto market had limited barriers to entry compared to traditional finance and offered fast, secure, and private payments to users. The fact that it was built on decentralized blockchain technology that eliminated the need for a centralized banking institution attracted millions of users across the world, especially from developing countries. However, blockchain has been plagued by dishonest and malicious players since its inception. The enhanced privacy, security, and limited traceability capabilities that were the technology’s selling point also attracted criminal…