Finance Firms Need to Replace IT Infrastructure to Adopt Blockchain and Crypto

Industry experts say that financial institutions will have to replace their existing internal IT infrastructure for greater adoption of blockchain and digital currencies, Scotland’s national news outlet the Scotsman reported Nov. 9. Delivering a speech at the ScotChain18 conference in Edinburgh devoted to blockchain technology impact on commerce, Jeremy Drain of cryptocurrency-focused software company Libra reportedly stated that “there’s an assumption by some companies that their current infrastructure will accept crypto and blockchain.” Drain further explained that those firms’ data is too different, so their systems are unable to work…

Business Still Good, Despite Exchange Volume Drop

Binance cryptocurrency exchange CEO Changpeng Zhao said that the company is not concerned over low trade volumes caused by the current market slump, according to an interview with CNBC Africa posted on YouTube Nov. 8.   Speaking on CNBC Africa’s “Crypto Trader” show, Changpeng Zhao — also known as CZ — said that the exchange is not worried by a volume drop of almost 50 percent since last month, when the market became “very stable.” According to Zhao, Binance currently has one tenth of the trading volume it did in…

Swedish Man Sentenced After Sending Bomb to Crypto Firm Over Lost Password

A Swedish court has sentenced a man to six and a half years in prison after he sent a “potentially lethal homemade bomb” to a U.K.-based crypto firm, BBC reports today, Nov. 9. Jermu Michael Salonen, 43, faced several charges in the Stockholm District Court, including sending a bomb to Cryptopay employees in London, and mailing a white powder to Swedish politicians — including the prime minister. Salonen was allegedly attempting to take revenge on the firm for refusing to change his password on the Cryptopay platform in August 2017.…

Price Rejects Bulls as Downside Correction Extends

Twitter Facebook LinkedIn Bitcoin on Friday suffered a circa 1 percent loss against the US Dollar owing to an extended bearish correction. The BTC/USD pair is now trading at 6340-fiat, 2.70 percent down from the November’s top at 6516-fiat. The 100-period simple moving average resistance discussed in our previous analysis has fared strongly for the fourth time. The strong pullback action from that level could undoubtedly allow the price to form downside targets towards 6203-fiat, vital support in the medium-term. SOURCE: TRADINGVIEW.COM A breakout action above 100-period SMA puts sights…

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, TRON: Price Analysis, Nov. 9

  The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision. Market data is provided by the HitBTC exchange. While many experts and investors view the current crypto bear market as a negative, economist Tyler Cowen, professor at George Mason University, believes that a crash is positive because it helps clean up the system. The dotcom bubble, though painful, wiped out the…

Fraudulent South Korean Exchange Pure Bit Nabs $2.8M in ICO Exit Scam

A South Korean ICO has defrauded its private sale investors out of roughly 13,500 ETH ($2.8 million) before disappearing from the internet entirely. Pure Bit, which has already pulled the plug on its website, has apparently conducted a fairly routine exit scam for its Pure Coin token sale. The cryptocurrency was pitched as an exchange token for Pure Bit, an exchange that was supposed to launch by the end of the month. The Coin  promised to give investors shares of the exchange’s trading revenue as well as discounted fees for trading,…

Amazon and ConsenSys-Built Kaleido Launches Full-Stack Marketplace

Blockchain software-as-a-service (SAS) project Kaleido has launched a marketplace to provide its users with a “full-stack enterprise platform.” Their “Blockchain Business Cloud” now features a “new marketplace [of] trusted tools and services from Kaleido, AWS, and members of the new partnership program, all offered as plug-and-play.” The suite of services will feature oracles, wallet and ID services, supply chain tools and even legal contract software. According to a company statement, “Clients now have access to native AWS integrations, popular services such as HD wallets for privacy and ID registries for…

Ethereum Token BAT Crashes Nearly 20% after Coinbase.com Listing

Twitter Facebook LinkedIn Ethereum token BAT rode the “Coinbase bounce” to a four-month high, but on Friday the cryptocurrency’s price fell back toward earth with a resounding thud. Ethereum Token BAT Leads Market Pullback The crypto market as a whole traded down heading into the weekend, with valuations collectively dropping by $6 billion over a 48-hour period. However, no large- or mid-cap cryptocurrency was hit as hard as Basic Attention Token (BAT), the native asset of Brave‘s digital advertising ecosystem. BAT, which runs on Ethereum as an ERC-20 token, fell…

93% of Brits Have Heard of Bitcoin, but Only 4% Have Bought It, Survey Shows

The vast majority of British people – 93 percent – have heard of Bitcoin (BTC), but only 4 percent claim to have bought it, according to a recent poll by UK market research company YouGov published Nov. 7. According to the survey, conducted this month, nine out of ten Brits have heard of Bitcoin, however, they report not understanding it. Only 4 percent of those surveyed claimed they understand Bitcoin “very well,” while 23 percent state they know it “fairly well,” with men almost three times as likely as women…

Malaysia’s Education Ministry Sets up University Degree Verification System via Blockchain

The Ministry of Education (MoE) of Malaysia is establishing a University Consortium to combat degree fraud using blockchain, the ministry announced in a tweet Nov. 8. According to the ministry’s tweet, the system is designed to issue and verify the authenticity of university-issued degrees. The new government-backed consortium will initially be comprised of six public universities and their diploma-verifying system is set to operate using the NEM (XEM) blockchain. According to the ministry, the new system was developed by a team led by a professor from the International Islamic University…