NEW YORK (Reuters) – The chief executive of Shopin has pleaded guilty to felony securities fraud in connection with an estimated $42.5 million initial coin offering by his blockchain startup, the office of New York Attorney General Letitia James announced on Thursday. Eran Eyal, 44, of Brooklyn, also pleaded guilty to two felony counts of scheming to defraud in connection with his two prior companies, Passo Sync Inc and Springleap Inc. The attorney general said Eyal also agreed to step down as Shopin’s CEO, was ordered to surrender $450,000 of cryptocurrency related to Shopin and pay $600,000 to Springleap investors, […]
France’s “Monsieur Bitcoin” Jean-Pierre Landau released an initial report into July 5, claiming it was “neither desirable nor necessary” to regulate the technology. Government official and academic Landau consciously compares “technological” and “financial” innovation in the report, which runs to over one hundred pages. Some of the conclusions may come as a surprise to industry commentators, Landau arguing that over-regulation of cryptocurrency would constitute a “three-pronged danger.” “Direct regulation is not desirable as it would oblige us to define, classify and therefore constrict objects which are essentially fluid and still unidentified,” he wrote in a summary section on cryptocurrency. The […]
NOW THE END BEGINS SHARE: Yesterday, the payments firm Mastercard announced it is joining the ID2020 Alliance to explore digital identity solutions. We have been talking for decades about the coming cashless society, one in which buying and selling is controlled by a digital identification mark, and now we are so close to it that is less than two years away. NTEB was one of the very first news outlets to warn you, back on October 24 of 2019, about the company created and funded by Microsoft and Bill Gates, a company called the ID2020 Alliance. Now credit giant Mastercard has thrown […]
Depending on who you ask, blockchains are either the most important technological innovation since the internet or a solution looking for a problem. The original blockchain is the decentralized ledger behind the digital currency bitcoin. The ledger consists of linked batches of transactions known as blocks (hence the term blockchain), and an identical copy is stored on each of the roughly 60,000 computers that make up the bitcoin network. Each change to the ledger is cryptographically signed to prove that the person transferring virtual coins is the actual owner of those coins. But no one can spend their coins twice, […]
LONDON (Reuters) – Oil majors and trading firms can start finalizing crude oil deals on a live blockchain-based platform for the first time, in a move that could revolutionize the market. FILE PHOTO: A BP logo is seen on a petrol station in London November 2, 2010. REUTERS/Suzanne Plunkett Commodities trading firms have piloted similar schemes in recent years as blockchain technology has the potential to drastically cut costs in an environment of razor-thin profit margins. London-based platform Vakt is the first of these to go live, with shareholder Gunvor Group saying it was rolled out on Wednesday, although no […]
Commissioner Tom Flint told some miners that their industry is risky and unregulated and he wanted to make sure other ratepayers were protected. This content was originally published here.
AI ICO The idea of an Initial Coin Offering has entered the public parlance as part of the rise of cryptocurrency. Now, an ambitious artificial intelligence startup is using the funding strategy as a means of gathering the cash needed to jumpstart the development of a project: SingularityNET. SingularityNET aims to prevent control of advanced AI from being entirely in the hands of Silicon Valley. Instead, it will use AI blockchain technology to distribute access to a wide range of AI algorithms, even enabling them to learn how to work in unison. Click to View Full Infographic Companies and individual developers […]
Bitcoin prices trade firmly lower early Monday, after the digital currency over the weekend retreated below values at $7,000. This content was originally published here.
Blockchain technology forms the foundation for cryptocurrencies such as Bitcoin, Dogecoin, and Ethereum, but it can be difficult to understand how it actually works. The Onion answers common questions about blockchain technology. This content was originally published here.
The cryptocurrency’s vulnerabilities to attack mean it is destined to play no more than a bit role in the global monetary system, a new study shows. This content was originally published here.