South American Crypto Exchange Buda.com Seeks Help of Colombian President for Reopening

South American cryptocurrency exchange Buda.com has requested Colombian President Iván Duque to help reopen its operations in the country, local news outlet La Republica reported September 21. Digital currency exchange Buda.com — which boasts around 35,000 accounts in Colombia — ceased its operations on June 20 after the country’s banks decided to close all the exchange’s accounts “for the lack of guarantees.” The move was reportedly spontaneous; banks confirmed they closed the accounts without providing further explanation. The exchange subsequently experienced technical difficulties, while a letter from a Colombian financial…

Study Reveals Growing Sophistication in Malicious Mining of Cryptocurrency

Several Chinese researchers from Fudan University, Tsinghua University and the University of California Riverside have produced the first systematic study of the malicious mining of cryptocurrencies, known as cryptojacking, unveiling increasing complexity over time. And it doesn’t seem as if this trend will die down anytime soon. What Is Cryptojacking? Cryptojacking has asserted itself in the cybersphere as the valuation of the cryptocurrency sector soared over the past 18 months and refers to where a hacker hijacks the processing power of a computer to mine cryptocurrency on the hacker’s behalf.…

Bitcoin Price Analysis: Potential Reaccumulation Could Test Bear Trend

Last week, after a devastating move that shook the market violently up and down for a 7% move in just a few short minutes, bitcoin saw a major sign of strength as it proceeded to have a slow, but steady markup where it managed to establish a local high in the $6,800s: Figure 1: BTC-USD, Hourly Candles, Shakeout Prior to Markup This shakeout forced the market to temporarily establish a new monthly low in what could be argued to be a stop-hunt prior to the move to the $6,800s. Sitting…

Fan Token Releasing for Juventus

Juventus soccer club is giving fans something different to shout about. The Italian soccer club announced today that it will launch its own fan token. Rival Paris Saint-Germain made a similar announcement two weeks ago, so why is football becoming increasingly interested in the cryptocurrency sector? There is one thing for sure that is positive about football’s involvement in crypto. It can help to promote the mainstream capabilities and adoption of cryptocurrency. Let’s check out exactly what Juventus is doing with its fan token and what does it do? Juventus Will Launch a…

IBM Awarded Patent for Autonomous Self-Servicing Devices Within Blockchain-Based IoT System

IBM has won a patent for the autonomous self-servicing of networked devices that form part of its Autonomous Decentralized Peer-to-Peer Telemetry (ADEPT) environment. The patent, first filed in late June 2016, was awarded by the U.S. Patent and Trademark Office (USPTO) September 18. IBM first unveiled a proof-of-concept (PoC) for ADEPT in partnership with Samsung back in March 2016. The system uses a blockchain protocol as a basis for a distributed network of devices — what Samsung has called “a sort of decentralized Internet of Things (IoT).” As IBM explains…

Russian Raiffeisen Bank Branch Issues Digital Mortgage Using Blockchain

A Russian subsidiary of Raiffeisen Bank International has issued an electronic mortgage using local blockchain platform Masterchain, local business newspaper Kommersant reports Monday, September 24. The document containing data on the parties in the transaction, the credit loan and its duration, and the property purchased was published in a decentralized depositary system (DDS). The DDS is based on Masterchain — a Russian network for transferring valuable data via blockchain — which a group of major local banks led by the Central Bank of Russia has been developing since 2016. According…

Bank of America Files New Patent for Multiple Digital Signatures on a Distributed System

The U.S.’s second-largest bank, Bank of America (BofA), has filed a new patent for adapting multiple digital signatures in a distributed network, according to a U.S. Patent and Trademark Office (USPTO) filing published September 18. The new patent proposes a system for managing data communication from Internet-connected devices. The document underlines that “the invention provides automated determination of which devices are communicating to which third-party entities and, in some embodiments, the type of data being communicated to such third-party entities.” BofA’s proposed system addresses devices within an Internet of Things…

New Study Argues Tether Wasn’t Used to Prop Up Bitcoin Price

Following an earlier report by researchers from the University of Texas alleging that stablecoin Tether (USDT) issues new tokens to manipulate the bitcoin price, a new report has emerged debunking this theory. Written by Dr. Wang Chun Wei of the University of Queensland Business School, the report states that, contrary to the conclusion of the earlier study by John Griffin and Amin Shams, the effect of Tether is statistically insignificant as far as bitcoin pricing is concerned.  Lack of Supporting Evidence According to Wei’s report, which uses VAR analysis —…

BTC/USD Reverses from Bear Flag Top

Bitcoin on Monday depreciated more than 2 percent against the US Dollar from its bear flag top from Saturday. The BTC/USD kickstarted Asian trading session by consolidating sideways near-term between 6688-low and 6722-high. The pair in the absence of upside sentiment started losing positions to shorts. As a result, it fell as low as 6580-fiat at the beginning of the European trading session. Ever since, BTC/USD is attempting a weak bounce back, valued above 6600-level at the time of this writing. BTC/USD Technical Analysis The BTC/USD expects to either consolidate…