The implementation of the recently launched Gemini dollar (GUSD) stablecoin can be completely changed by a Gemini custodian every 48 hours, according to a study authored by blockchain researcher Alex Lebed and crypto consultant Alexey Akhunov, published on Medium on September 11. In the research, the authors review the code of the GUSD’s smart contract in order to demonstrate that the implementation of the Gemini USD can become non-transferrable or frozen at any moment, which is noted in the Gemini dollar’s white paper. The option of pausing, blocking, or reversing GUSD transfers is one of the basic technical principles of …

Silicon Valley-based startup Splend, specialized in developing solutions to address blockchain scaling issues for instant crypto transactions, announced that it is partnering with Shanghai Code Center Industry, a China-based IT company, to develop the “next generation” network infrastructure for the China Cable Television Network. It is a subsidiary of China Central Television (CCTV), the largest media company in the country, broadcasting to over one billion viewers. "Through the adoption of Splend's cutting edge technology, we are planning to build the next network infrastructure, which will overthrow the realities of the current network, enable faster transactions and dramatically reduce costs," the …

The crypto and blockchain industry is “not innately illicit and should not be feared,” the director of analysis for the Foundation for Defense of Democracies (FDD) Center stated in an official press release from the U.S. House of Representatives Financial Services Committee September 7. As previously reported by Cointelegraph, during a Sept. 7 U.S. Congressional hearing of the Subcommittee on Terrorism and Illicit Finance, FDD CSIF director of analysis Yaya Fanusie claimed that crypto is a “poor form of money for jihadists” and “cold hard cash is still king.” According to Fanusie’s conclusions in the report, terrorist groups such as …

Cryptocurrency exchange ShapeShift has introduced a new rewards program, which will eventually become a mandatory membership model for the exchange’s users, according to an announcement published September 4. Erik Voorhees, founder and CEO of ShapeShift, stated that today the exchange released a loyalty program entitled ShapeShift Membership. While ShapeShift is known as “the exchange without accounts,” the newly developed account-based membership model will be integrated in order to “reduce friction and protect customers.” Per the statement, the program is currently optional, though it will become mandatory in the near future and requires the provision of “basic” personal information. Within the …

In response to a reported increase in the illicit use of cryptocurrencies, Japan's National Police Agency (NPA) plans to introduce new software which can track cryptocurrency transaction history, Japan's national public broadcasting organization NHK reported August 30. In 2019, the National Police Agency will reportedly put special software into service to track the history of virtual currency transactions within the country. The move comes as part of an effort to fight the increased level of cryptocurrency misuse and thefts. In order to cover the expense of the new software, the NPA is looking to increase its budget by 35 million …

A New York Stock Exchange (NYSE) trader told to Yahoo Finance in an interview Aug. 3, that at the moment Bitcoin (BTC) is “very iffy” following the launch of a new regulated BTC exchange Bakkt by the Intercontinental Exhange (ICE), the parent company of NYSE. Alan Valdes, a senior partner at international advisory firm Silverbear Capital and NYSE trader, raised concerns about BTC, when asked if the launch of Bakkt may be a sign that Wall Street is serious about crypto. Valdes said: “How do you protect your Bitcoin? These wallets seems very iffy at best. If someone hacks into …

U.S. retail giant Walmart has applied for another patent, which describes the management of smart appliances using blockchain technology, according to an application published by the U.S. Patent and Trademark Office August 2. The application outlines systems and methods for managing smart appliances such as a desktop or server computer, a kiosk, a tabletop device, or more portable computing devices, such as a wearable or gaming devices, laptop computers, or portable media players. From a practical perspective, users will employ a device, whether it is wearable or not, that maintains the private key used to authorize a transaction. One use …

A team of Bitcoin (BTC) engineers has announced the launch of the Bitcoin Operations Technology Group (Bitcoin Optech) addressing the problem of Bitcoin’s scalability, according to their statement published July 20. Bitcoin Optech is a non-profit organization backed by leading industry players like PayPal Board Member Wences Casares, executive of Kohlberg Kravis Roberts & Co. Ltd John Pfeffer, and cryptocurrency research and development group Chaincode Labs. At this stage, Bitcoin Optech focuses on “operational technical work, such as segwit usage, transaction batching, fee estimation and coin selection,” helping companies integrate the rapidly developing technology. Working closely with engineers from companies …

Stellar, an open-source platform for distributed payments, is reportedly the first distributed ledger protocol to obtain Sharia compliance certification in the money transfer and asset tokenization field, according to a Stellar blog post published July 17. The Shariyah Review Bureau, a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has examined the capabilities and applications of Stellar and released guidance that allows for the deployment of Stellar technology in Islamic financial institutions. With the certification, Stellar will ostensibly be able to enhance its ecosystem in regions where operation in the field of financial services requires compliance …

US computer technology multinational Oracle confirmed the general release of its blockchain platform in an official press release July 16. The launch follows a series of trials with banking, business and government clients. Oracle Blockchain Cloud Service (OBCS) focuses on transaction efficiency and supply chain authentication, using Hyperledger Fabric as its basis. Existing users of a pre-release version of the product include Arab Jordan Investment Bank (AJIB), Indian Oil and Nigeria Customs, according to the press release. “Blockchain promises to be one of the most transformative technologies of our generation,” Oracle Cloud Platform executive vice president Amit Zavery said. “...With …

The European Banking Authority (EBA) has published a report, which analyzes the opportunities and risks emerging for financial institutions in using distributed ledger technology (DLT). In the report released July 3, the banking regulator analyzes the impact of fintech and DLT on financial institutions, examining two DLT use cases in international trade and so called “digital identity.” The EBA defines “digital identity” as the “information used to represent an entity in an informational system.” The EBA starts with an extensive explanation of the ways DLT can be applied in the field of international trade transactions and streamline the process of …

Singapore-based startup Cryptology is aiming to make crypto transactions simpler and cheaper by building a “next generation” cryptocurrency exchange, which would be among the few that combine crypto and fiat transactions on a user-friendly platform, and offers the additional option of a mobile app. The company also expects to have an edge over rivals by partnering with a payment system that will help seamlessly integrate fiat and crypto transactions and lower fees for users. Web version and mobile app The company says that the web version of the platform is comfortable to use and “absolutely intuitive.” All the trading operations …