Crypto Valley’s Zug to Run Switzerland’s First Blockchain-Based Municipal Vote

The Swiss city of Zug will conduct a blockchain-powered trial municipal vote this summer, local media outlet Swissinfo.ch reported June 8. The event, which is scheduled to take place between June 25 and July 1, will reportedly be Switzerland’s first municipal vote using blockchain. According to the report, the upcoming trial vote will implement the city’s digital ID (eID) system that was launched in November 2017. The system will allow citizens to vote via their mobile devices. Apart from voting on minor municipal matters, citizens will also be asked if…

Colombian Banks Close All Accounts of S. American Crypto Exchange Buda

Colombian banks closed all the accounts of South American crypto exchange Buda.com, local news outlet Diario Bitcoin reported June 8, citing an email the company sent to its clients. According to the email, the move was spontaneous, the banks confirming that the accounts had been closed without providing further explanation. The crypto exchange reported soon after the news that it was experiencing technical difficulties, but would fully resume services June 13.   Buda’s Colombian CEO Alejandro Beltran confirmed the situation to local industry media Cripto247. He also named the three banks…

Fifth Largest Cryptocurrency EOS’ Blockchain Set to Launch

The EOS blockchain is set to launch today, June 9, according to the results of a live-streamed vote that took place yesterday, June 8. Candidates to become the EOS blockchain’s so-called “Block Producers” – the equivalent of miners on the Bitcoin blockchain – voted “Go” in their latest voting session to make the EOS mainnet go live at 1:00pm UTC today. The community has yet to confirm that a successful launch has taken place as of press time. EOS LAUNCH IS A GO! The blockchain will launch at 1300 UTC…

UK National Archives to Test Blockchain Tech for Official Record Keeping

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. The UK government’s official record-keeper, the National Archives (TNA) will be using blockchain technology to create a way to verify the accuracy of archived documents. The project, called ARCHANGEL is one of three blockchain projects the University of Surrey has won, the other two being voting and healthcare. Digital Archives Challenged Digital archiving is challenging because computer files continuously change and become obsolete, the National Archives blog noted. A digital file from the late 1990s, for example, will…

China as a Prime Example of “Blockchain Before Bitcoin” Policy

Last week, China’s president Xi Jinping took Blockchain-oriented domestic politics to another level: the country’s leader mentioned blockchain as “a part of technological revolution”. The sentiment was then picked up by China’s largest TV broadcaster, as the viewers were told that “the value of blockchain is 10 times that of the internet”. Besides the high praises coming from the top of the state, there’s action, too: in the past few days, Chinese central bank developed a system to issue blockchain-based checks instead of paper ones, while Alibaba-affiliated insurtech firm promoted…

Asian Cryptocurrency Trading Update: Decred Creeps Up in Sideways Market

Current performing altcoins are Decred, Verge, Digibyte and Mixin. Crypto markets are predictably sideways again as we enter the weekend. The bounces are getting smaller indicating that a breakout could be imminent. Bitcoin has made no movements in the past 24 hours and remains at $7,670. Likewise with Ethereum which is hovering around the $600 mark where it has been for the past few days. Altcoins are a mixed bag with half gaining small amounts and half losing them. None in the top 25 have posted any significant gains so…

The Yes Votes Are In: EOS Blockchain to Launch Imminently

The launch of the EOS blockchain has been a giant experiment in remote self-organization. Tonight, it took a big leap forward. As anticipated, candidates for the role of block producers (EOS’s equivalent of bitcoin miners) located all over the world voted “Go” to take the mainnet live. EOS is a distributed proof-of-stake blockchain created by Block.One, whose co-founder, Dan Larimer, has pioneered similar systems with BitShares and Steem. The company raised $4 billion to develop the open source software over a year-long initial coin offering. No one really knew what…

CME and BTC Exchange Dispute Led US Regulators to Open Price Manipulation Probe

Regulators from the US Commodity Futures Trading Commission (CFTC) reportedly demanded extensive trading data from several cryptocurrency exchanges, people familiar with the matter told the Wall Street Journal June 8.  Regulators requested data in order to investigate whether manipulation might be compromising prices in digital currency markets. The probe followed the launch of Bitcoin (BTC) futures by CME Group in December last year. CME forms its Bitcoin (BTC) futures prices based on data from four crypto exchanges; Bitstamp, Coinbase, itBit and Kraken, where manipulative trading could reportedly have distorted the…

A Lingering Struggle For Mass Adoption

Huobi, a Singapore-based trading platform currently ranking among the world’s top three cryptocurrency exchanges, has made headlines on June 1 as it unveiled an exchange-traded fund (ETF) that tracks an index of top ten crypto assets against Tether, a digital currency tied to the US dollar. While an impressive feat that will undoubtedly draw even more retail investors into cryptocurrency trading worldwide, on the global scale this is hardly the first instance of a regulated crypto-based derivative being offered to the public. Sweden, which usually serves as a textbook example…

Governor of Connecticut Signs Blockchain Working Group Bill Into Law

Connecticut governor Dannel Malloy signed SB 443 into law, which establishes a blockchain working group to study the technology, according to public documents June 6. The working group is also tasked with shaping a plan to “[foster] the expansion of the blockchain industry in the state.” The bill accordingly passed both legislative houses last month in a unanimous vote. In order to to make Connecticut “a leader in blockchain technology,” the group is instructed to: “(1) Identify the economic growth and development opportunities presented by blockchain technology; (2) assess the…