A blockchain-based digital asset exchange network has launched a “lightning fast” protocol which is capable of processing more than 60,000 transactions per second. #MetaHash says its protocol, known as #TraceChain, takes no longer than three seconds to approve each transaction. A trial of its geographically-distributed network has begun and a free browser is available on Windows, Linux and Mac OS X platforms, with mobile-based apps for iOS and Android to follow shortly. The company describes #TraceChain as one of the four components that make up its system – coming together to create a “simple, synergistic entity.” Other components include the …

Blockchain technology has the potential to revolutionize transaction banking according to a study by major global management consultancy firm Bain & Company, Cointelegraph auf Deutsch reports today, June 14. According to Bain, “transaction banking revenues tend to be less volatile than other types of banking revenues, and bankers can cross-sell products, which is critical for client loyalty.” Bain concludes in its study that this particular area of banking will change substantially in the future through the use of Distributed Ledger Technologies (DLT), like blockchain: “Using this technology, execution, clearing and settlement could occur simultaneously, minimizing liquidity and credit risks. Custody …

An upcoming ecosystem hopes to create a suite of services that will make it easier for cryptocurrencies to be used in everyday life – including professional bookkeeping, legal, and accounting services to protect a user’s interests. MillionCoin says its platform is geared towards investors who are interested in crypto but don’t necessarily have in-depth technical knowledge about how it works. Users would be able to exchange cryptocurrencies effortlessly and perform payments quickly while limiting the fees associated with their transactions. All deposited funds would be audited to reduce the chance of fraudulent activity. The beating heart of the ecosystem would …

The National Audit Office of the People's Republic of China is considering a Blockchain solution to address the problem of what it describes as the “endless cycle of data storage and management” for its current infrastructure, according to an announcement published on its website Apr 24. The National Audit Office is tasked with auditing all government-related financial transactions, and manages a centralized data center which stores the relevant data for every subordinate auditing bureau in the country, at provincial and municipal levels. The predicament it faces is therefore an “infinite expansion of data center hardware and software equipment requirements” to …

Rabobank, a major Dutch bank with €681 bln under management, roughly equal to $838 bln, is looking into options for developing a cryptocurrency wallet within its online banking environment, according to a press release published Feb. 28. The idea of a digital wallet for the bank’s own cryptocurrency project “Rabobit” was offered under the bank’s internal “Moonshot” program. The program encourages Rabobank’s employees to propose innovative ideas which can be further developed by the bank. Although the bank’s official selection of “Moonshot” ideas for actual implementation will be announced in mid-June, Rabobank has already launched a one-page website to promote …

Cryptocurrency exchanges in Malaysia must now fully identify traders after new central bank anti-money laundering legislation came into effect Tuesday, Feb. 27. A copy of the legislation and official press release from the Bank Negara Malaysia (BNM) states that any exchanges offering crypto-to-fiat, fiat-to-crypto and even crypto-to-crypto trading must “identify the customer and verify that customer’s identity.” As Cointelegraph reported in November 2017, forecasting the regulations, BNM Governor Tan Sri Muhammad bin Ibrahim placed emphasis on the need to control potential criminal usage of digital currencies. “The advent of digital currencies as some have forecast will mark the beginning of …

A patent for a system that would allow for modifications of a Blockchain protocol without a consensus from all participants of the network, originally filed by the CME Group in December 2017, has been published by the US Patent and Trademark Office (USPTO) last Thursday, Feb. 8. In most Blockchain-based networks, such as Bitcoin’s, modifying the protocol currently requires a network consensus that can be hard to achieve, making the system more resilient, but also harder to upgrade when needed. The Segregated Witness (SegWit) upgrade, originally designed to add transaction malleability but now focused on Bitcoin scalability, required a 95 …

A recent report from the joint Bitcoin analysis team of FDD and Ellicit, a Bitcoin forensics company, indicates that less than one percent of all Bitcoin transactions involve money laundering. The report, written to help analyze the flow of funds and the danger of money laundering, has indicated that money laundering isn’t nearly the problem some critics of cryptocurrency believe. The report states: “The amount of observed Bitcoin laundering [is] small and darknet marketplaces such as Silk Road and, later, AlphaBay are [generally] the source of almost all of the illicit Bitcoins laundered through conversion services.” The report also indicates …

Time and again we keep experiencing one problem or the other with the current ticketing systems. At times, several people are sold the same tickets, other times bots buy all the tickets and nothing is left for actual attendees. Not to forget the usual tickets touts and their markups. It’s getting more and more difficult for an everyday Joe to buy tickets online. The worst one is when you do manage to get the tickets, but for some reason, the event gets canceled, you never get your refund or have to write multiple emails in order to get your money …

Technology giant Oracle has officially become a member of the Hyperledger project as of August 2017. Hyperledger is a Blockchain-based project led by the Linux Foundation. Oracle intends to utilize the Hyperledger Fabric Blockchain code as the platform for its new cloud-based service. According to Oracle’s SVP for cloud platforms and middleware, Amit Zavery, the project is a vital component of their proposed Blockchain-based cloud platforms for commercial use. "As we develop our Blockchain cloud platform for enterprise use, we believe scalable cross-industry technologies, confidential transactions, and modular architecture promoted through initiatives like the Hyperledger Project, are critical components." Previous …

A US Homeland Security official has said Bitcoin is “a lot more legitimate” as dark web users move away from the virtual currency. Speaking in an interview with CNBC, the unnamed official said criminals were shying away from Bitcoin as law enforcement was “getting a lot better” at tracking them. "I think [Bitcoin]'s a lot more legitimate than people give it credit for," the official added. The issue of Bitcoin’s anonymity has long been a sticking point for illegitimate actors operating via the dark web, with more stealthy cryptocurrencies such as Monero seeing increasing numbers of Bitcoin refugees from the …

In the wake of the Charlottesville attack, one Twitter Bot is taking matters of tracking down the neo-Nazis into its own hands. The bot, simply called ‘Neonazi BTC Tracker’ is publishing a tweet each time a Bitcoin transaction is posted to the wallets owned by known Neo Nazis. The tweets include every transaction posted to the wallets, as well as detailed reports of each wallet balance. For example: New payment: 0.01488 BTC ($69.18)https://t.co/hRgMVHGpdo Total of Dailystormer BTC wallets: 18.13370749 BTC ($84,303.54) — Neonazi BTC Tracker (@NeonaziWallets) August 30, 2017 The wallet referenced above has approximately $80,000 consistently, regardless of the …