Kodak Announces Token Offering Goal For Blockchain Image Protection Platform

Wenn Digital, the developer of a blockchain-based image rights platform licensed by Kodak, announced Thursday that it plans to attract up to $50 mln in a combined public and private token offering, Reuters reported May 10. Wenn Digital has developed an image protection, monetization, and distribution platform secured via blockchain called KODAKOne, which is designed to protect the copyright of images or photographs registered on the platform. Kodak reportedly owns a minority stake in Wenn Digital. The public offering of Wenn’s token KODAKCoin will begin May 21. Initially the offering…

Financial Institutions Report Significant Time, Cost Savings

Financial institutions who participated in a recent pilot of Ripple (XRP)’s xRapid platform have reported transaction savings of 40-70 percent, Business Wire reports Thursday, May 10. In addition to cost savings, the participants have noted an improvement in transaction speed – from the average 2-3 days to “just over two minutes.” XRapid is a liquidity solution for Ripple’s blockchain-powered real-time gross settlement system, which is designed as a tool for facilitating cross-border fiat transfers between financial institutions. Ripple is currently the third largest cryptocurrency by market capitalization, according to data…

Venture Capitalist Tim Draper: Bitcoin Is The Most Secure Place To Put Your Money | CNBC

Venture capitalist Tim Draper discusses government scrutiny of Facebook and concerns over user privacy, as well as his regulatory issues faced by companies thinking about going public. He also says Elizabeth Holmes, Theranos founder, was bullied into submission. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Find CNBC News on…

De Beers Tracks Diamonds With Blockchain For The First Time

Global diamond giant De Beers announced Thursday that it tracked 100 high-value diamonds from the mine to the retailer using blockchain technology. According to a May 10 press release, this is the “first time a diamond’s journey has been digitally tracked from mine to retail.” De Beers says that its new platform, Tracr, is expected to launch later this year and will be open to the entire diamond industry. The effort was reportedly undertaken to enhance consumer confidence and public trust that De Beers diamonds were non-conflict, in addition to…

Colorado Blockchain Bill Hits the Skids

Join our community of 10 000 traders on Hacked.com for just $39 per month. The bill would have exempted certain digital currencies from being regulated as securities under the Colorado Securities Act. Colorado’s blockchain bill, House Bill 1426, would have also been a boon for innovation in the state was making its way through the State Assembly but got derailed abruptly on Wednesday in a vote. HB 1426 was all but on its way to the governor’s desk after seemingly passing both the House and Senate votes. But the approval…

Bitcoin as a Payment System

Debates over the suitability of Bitcoin as a payment system continue. Last week, CFTC chairman J. Christoper Giancarlo stated he does not believe Bitcoin to be an “ideal” payment system. The chair has this mentality despite also saying Bitcoin has similarities to gold. This week, the Bank of America CTO joined the conversation. Bitcoin as a Payment System On Thursday, Catherine Bessant, Bank of America CTO, stated that Bitcoin as a payment system is very “troubling.” Not just Bitcoin, however, Bessant referred to the use of other cryptocurrencies as payment systems…

Dutch Ministry Develops National Blockchain Research Agenda

Rob van Gijzel, ambassador of the Dutch Blockchain Coalition, presented a national blockchain research agenda, commissioned by the Dutch Ministry of Economic Affairs and Climate Policy, on May 8. The Ministry created a designated unit, ‘TopTeam ICT,’ tasked with researching the further development of blockchain across technology, legal issues, economic impact and ethics. The research agenda outlines the three key areas – proposed as design briefs – that it aims to address in order for blockchain to be adopted nationwide “with positive societal potential.” The first of these covers the…

Platform Creates Blockchain System That Offers ‘Valid Randomness’ in iGaming

A start-up company claims it can reduce public distrust in iGaming services through a blockchain system that generates “valid randomness” in games and makes them “provably fair.” Luckchemy, which is registered in Gibraltar, says its initial product is a daily lottery which uses a delegated Ethereum blockhash and a server seed to ensure the final result cannot be altered. Players can select five numbers from 1 to 47 and one number from 1 to 24, with a variety of prizes available depending on how many numbers are matched. Prize funds…

Robinhood App Raises $363 Mln To Expand Its Zero-Fee Crypto Trading Platform US-Wide

Stock trading app Robinhood has raised $363 mln in a series D funding round in order to expand its crypto trading platform, ‘Robinhood Crypto,’ US-wide, according to a company press release today, May 10. As Fortune reports, the funding makes Robinhood the second most valuable fintech startup in the US, and its current valuation is at $5.6 bln, more than a fourfold increase from last year. DST Global led the recent round, with new investors including Sequoia Capital, Kleiner Perkins, Iconiq Capital and Capital G (the VC arm of Google…