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Facebook Libra Cryptocurrency Has Its Uses, Says Bank of England Governor

The head of the United Kingdom’s central bank has said Facebook’s new libra cryptocurrency could have genuine use cases if it can conform to regulatory demands, the Financial Times (FT) reported on June 18. Speaking at a conference of central bankers in Portugal, Mark Carney, governor of the Bank of England (BoE), delivered mixed reviews of libra. The in-house stablecoin for Facebook has sparked predictions of blanket bans by governments since developers unveiled it this week. “The governor said the BoE was there to guarantee financial and monetary stability and…

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Facebook’s Libra Is Here. But It Might Not Be What You Think.

Libra — sometimes referred to as “Facecoin” or “Zuckcoin” — is self-billed as “a simple global currency and financial infrastructure that empowers billions of people.” The introduction waxes cypher-poetic about the liberating nature of the internet and the potential for an online currency to unfetter financially disenfranchised populations around the world from the shackles of the inefficient and parasitic banking system. “The world truly needs a reliable digital currency and infrastructure that together can deliver on the promise of ‘the internet of money.’”   — Facebook Libra white paper If…

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TRON Announces MainNet Upgrade Designed to Enhance Security and Convenience

Odyssey, the mainnet for the blockchain-based platform TRON, will be upgraded to version 3.6 soon, according to an official blog post by the TRON Foundation on June 18. The TRON network aims to be a platform for creating entertainment-focused decentralized applications (DApps). As stated in the post, developers can create DApps on both the TRON protocol as well as the Tron Virtual Machine. Odyssey version 3.6 will reportedly contain new features designed to make DApp creation easier, as well as provide network protection from bad actors. As per the report,…

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Chair of House Financial Services Committee Requests Halt on Facebook’s Crypto Project

Disclaimer: this story is breaking and will be subject to updates. Rep. Maxine Waters, chairwoman of the United States House of Representatives’ Financial Services Committee is requesting that Facebook halt development on its cryptocurrency, the Libra, as reported by CNN Tech Reporter Brian Fung in a series of tweets June 18. In her statement, Rep. Waters explained: “Given the company’s troubled past, I am requesting that Facebook agree to a moratorium on any movement forward on developing a cryptocurrency until Congress and regulators have the opportunity to examine these issues and…

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Asian Markets’ Appetite for Crypto on the Rise, Pushing Bitcoin Premium Surge

This article was originally published by 8btc and written by Lylian Tang. Bitcoin has surged above $9,000 to set a fresh year-to-date high since Sunday and the uptick in momentum is still going on these days. Amid the bullish trend in the bitcoin market, bitcoin’s popularity seems to be on the rise, particularly in Asian markets. According to crypto analyst Mati Greenspan, bitcoin is currently trading at a premium of about $160 in Hong Kong. Greenspan said that one bitcoin is going for 73,120 HKD ($9,337) on the local crypto…

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Hyperledger Gains Microsoft and Ethereum Foundation Among Raft of New Members

Microsoft, Salesforce and the Ethereum Foundation are among the major new companies joining enterprise blockchain platform Hyperledger. The company’s executive director, Brian Behlendorf, confirmed the news to Cointelegraph ahead of a public unveiling at the ongoing Synchronize Europe conference in London on June 18. Part of a monthly update on new members of Hyperledger, Behlendorf said June’s rollout included the Ethereum Foundation as a non-profit member, while supply chain standards body GS1 is also now on board. Hosted by the Linux Foundation, Hyperledger already counts IBM, JPMorgan Chase, Deutsche Boerse…

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Facebook Releases Cryptocurrency White Paper for Libra Currency

Social media giant Facebook has released the white paper for its long-awaited cryptocurrency and blockchain-based financial infrastructure project today, June 18. According to the paper, Facebook’s global stablecoin is dubbed “Libra,” will operate on the native and scalable “Libra” blockchain, and be backed by a reserve of assets ostensibly “designed to give it intrinsic value.” Facebook states that the software that implements the Libra blockchain is open source in order to create an open and interoperable ecosystem of financial services and broaden inclusion. The new cryptocurrency will be governed by…

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How to Explain Bitcoin to Your Dad on Father’s Day: An Infographic

Father’s Day is a time to celebrate those dads who have sacrificed so much to bring us into the world, teach us how to thrive in it and show us how to make it a better place. For many children, this means getting pops a new tie, some tools or a bottle of scotch. But 2019 is the year to give your dad a truly special Father’s Day present: the gift of bitcoin. Thanks to the below infographic made exclusively for Bitcoin Magazine by eToro, a brokerage company that offers…

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Statechains: Sending Keys, Not Coins, to Scale Bitcoin Off-Chain

Block space is limited: The Bitcoin blockchain can only process some 10 transactions per second, at most. To resolve this, Bitcoin’s technical community is developing second-layer protocols that process transactions “off-chain,” such as the Lightning Network and sidechains. Using clever cryptographic tricks, these transactions are batched to periodically settle on the Bitcoin blockchain as a single transaction. Now, a new second-layer protocol is entering the fray. Statechains, first proposed by Seoul Bitcoin Meetup organizer and Unhashed Podcast co-host Ruben Somsen, turns the concept of a Bitcoin transaction on its head.…

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South Korean Crypto Exchanges to Take Fall for Hacks » Bitcoin Magazine

Several South Korean cryptocurrency exchanges have updated their terms of service in line with regulatory demands, The Korea Herald reports. The country’s financial watchdog, the Financial Trade Commission (FTC), has announced that five exchanges updated their terms of service following its corrective recommendation made last year. Notable on the list of exchanges making updates to comply with the recommendation is Bithumb, one of the world’s leading exchanges and one that has seen more security breaches in the last two years than most platforms see in a lifetime. Following the update,…

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