Elvira Nabiullina, the head of the Bank of Russia, argued that there is a line between anonymity and privacy regarding the circulation of an upcoming digital ruble. Speaking at a press conference on Oct. 23, Nabiullina said that Russia’s digital ruble will not have the same level of anonymity as cash. However, the bank expects to strengthen user privacy, Nabiullina promised, stating: “Still, we shouldn’t confuse the anonymity with confidentiality of digital ruble transactions. Indeed, there will not be the same level of anonymity that is supported by cash transactions. But confidentiality is expected to be enhanced.” Nabiullina elaborated that …

A blockchain-based energy trading platform backed by German tech giant Siemens is being publicly demonstrated in a Bavarian municipality today. The so-called “Pebbles” project — short for “peer-to-peer energy trading based on blockchains” — is holding a virtual demo of its blockchain-based marketplace platform for optimized electricity trading. The demo was officially announced by the project on Oct. 22. The public demonstration of Pebbles’ energy platform in the town of Wildpoldsried in Bavarian marks a major milestone after the project was launched in March 2018. Funded by German Federal Ministry for Economic Affairs and Energy, Pebbles is a joint initiative …

A significant amount of Bitcoin's (BTC) total supply has not moved for more than 10 years, according to data from cryptocurrency analytics data provider Glassnode. During this decade-long interim, 1.8 million Bitcoin (of the current 18.5 million supply) has been locked in dormant Bitcoin addresses. Its cumulative value amounts to more than $23 billion at the time of publication, according to data from Coin360. A large portion of these coins may belong to Bitcoin’s mysterious creator, Satoshi Nakamoto — who disappeared from the community in 2011. Nakamoto may own over 1 million of these as-yet untouched assets, which are purported …

The average value of Bitcoin (BTC) transactions has increased dramatically since July this year. The average transaction value was sitting at approximately $25,000 per transaction four months ago, but posted a yearly high on Oct. 20 at $151,000 per transfer — representing an increase of more than 500%. The latest spike, as shown by crypto analytics platform BitInfoCharts’ data, saw the average value of a transaction increase almost $50,000, up from $105,000, in the last 48 hours. This surge in transaction value comes shortly after Bitcoin’s trading dominance rose to levels not seen since 2017. The $151,000 average value is …

Financial authorities in New Zealand are in no hurry to issue a central bank digital currency, or CBDC, according to a central bank executive. Christian Hawkesby, assistant governor at the Reserve Bank of New Zealand, claimed that the country has “no imminent plans” to issue a CBDC. In a speech on Monday, Hawkesby said that the bank remains open-minded about further progress in money and payment technologies and has actively engaged in CBDC research. He said: “To issue currency that meets the needs of the public, we must take a new and holistic approach. We acknowledge there is much work …

Large Bitcoin (BTC) transactions from Huobi cryptocurrency exchange are moving to OKEx despite the latter having temporarily suspended crypto withdrawals. According to data from crypto tracking service Whale Alert, a total of 1,995 BTC ($22.5 million) was sent from Huobi to OKEx shortly after OKEx officially announced it was suspending withdrawals on Oct. 16. The funds were transferred in two separate BTC transactions worth 998 BTC ($11.3 million) and 997 BTC ($11.3 million) at 3:51 a.m. EST and 06:22 a.m. EST, respectively. The transfers raise some questions as 1,995 BTC is now locked on the platform due to the platform …

A bankless world is inevitable due to the “natural evolution of technology,” according to a top executive at multi-billion dollar investment manager, Morgan Creek Capital. The firm’s CEO Mark Yusko believes that a “silent revolution” powered by cryptocurrencies like Bitcoin (BTC) will eventually lead the world to a bankless society. In an Oct. 13 interview with Brazilian Dash-focused YouTube channel Dash Dinheiro Digital, Yusko said that people around the world will, in time, be able to “bank themselves through crypto.” Despite his claims regarding a bankless society, the CEO noted that he does not mean banks will disappear entirely, stating: …

American fast-food giants like Starbucks and McDonald’s are reportedly not participating in China’s ongoing digital yuan tests. According to an Oct. 14 report by news agency Sina Finance, China’s central bank digital currency, or CBDC, is still being piloted on a “small scale,” primarily involving the retail and catering industry. As reported, a number of foreign merchants, which were rumored to be part of China’s CBDC tests, are actually not using the digital yuan for payment so far. Xiong’an, one of the major Chinese cities piloting the digital yuan, reportedly had 19 companies involved in its CBDC pilot, including Starbucks, …

Russian financial authorities have confirmed the government’s purported plans to issue the central bank digital currency, or CBDC. On Oct. 13, the Bank of Russia released a consultation paper on the development of the digital Russian ruble. In the statement, the central bank said that the digital ruble can become an “additional form of money alongside cash and non-cash.” The establishment of Russia’s CBDC project will require the creation of additional payment infrastructure, the bank said. The bank also said that the digital ruble will have “all the necessary properties to perform the functions of money.” The project’s timing will …

Bitcoins (BTC) stolen from major cryptocurrency exchange Bitfinex back in 2016 are on the move again, as hackers shift another massive batch of funds to unknown wallets. According to data from crypto transaction tracking service Whale Alert, Bitfinex hackers moved more than $4.6 million in stolen BTC on Oct. 8. These funds were sent to unknown wallets in two separate transactions of 435 BTC and 8 BTC. But the hackers have moved far more than this amount earlier this week. According to Whale Alert, Bitfinex hackers completed seven more similar transactions on Oct. 7, totaling at 2,900 Bitcoin, or $26.4 …

The central bank of Kyrgyzstan has disabled cross-border transactions on the SWIFT financial network amid widespread unrest over the country’s disputed parliamentary elections. Aida Karabaeva, an official representative of the National Bank of the Kyrgyz Republic, announced a temporary suspension of SWIFT in Kyrgyzstan in a statement on Oct. 7. According to Karabaeva, the bank decided to suspend SWIFT transactions in order to prevent capital outflows from the country and ensure the safety of assets. The executive claimed that the bank is planning to resume SWIFT transactions as soon as the situation in the country stabilizes: “The measures taken are …

Gemini, a cryptocurrency exchange founded by the Winklevoss twins, aims to improve user privacy with a major privacy token, Zcash (ZEC). Starting Sept. 29, Gemini will support shielded withdrawals of ZEC, which allows users to hide their transaction data. Gemini representatives said that the new feature is the “first time shielded ZEC withdrawals are available on a regulated exchange.” The new option comes in line with Gemini’s mission to strengthen financial privacy and “empower the individual through crypto,” Gemini executives said. Launched in 2016, Zcash is a major privacy-focused cryptocurrency, enabling two user privacy levels through two types of addresses …