AmaZix partners with European blockchain fund managers Olymp Capital

AmaZix, a leading provider of blockchain-related advisory and consulting, has announced it is partnering with Olymp Capital, an EU-focused investment fund manager dedicated to the blockchain and digital asset class.

Olymp Capital provides the link between investors, companies, and entrepreneurs, aiming to support premium investment opportunities in the Blockchain ecosystem at the infrastructure level. The mutual partnership will give Olymp Capital access to the hundreds of blockchain companies that AmaZix has analysed and reviewed. Likewise, AmaZix will be able to help advise companies that Olymp has invested in.

Christophe de Courson, Olymp Capital CEO said: “Much remains to be done for blockchain technology to reach its full disruptive potential. Many parties must come together to lay down the foundations for a sustainable ecosystem – be it architecture, legislature, or otherwise. However, in practical terms, we need to see strong and stable businesses growing the industry, and we see AmaZix as a leader in helping businesses do that.”

 Jonas Karlberg, AmaZix CEO, said: “For us at AmaZix, all the things that we push for and advocate for in the industry are driving the ongoing paradigm shift in finance, economy, and technology. By definition, blockchain and digital asset advocates are pioneers, staying ahead of the curve and striking out a path for others to follow. We recognise Olymp Capital as a first mover in such a fundamental area of finance and are pleased to be partners with them. The fact that they also have privileged partners such as Fundstrat Global Advisors says a lot about their deep reach and network.”

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AmaZix partners with European blockchain fund managers Olymp Capital

Via: AmaZix partners with European blockchain fund managers Olymp Capital

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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Bitcoin Cash F**ked

The planned Bitcoin Cash fork today has resulted in a big problem for the network due to a glitch in the upgrade.

The Bitcoin Cash network stopped processing transactions for various blocks, over what some are claiming to be an issue with the Bitcoin ABC client.

According to Coin.Dance data, most blocks on the Bitcoin Cash blockchain mined after the hard fork are only processing Coinbase transactions, meaning unconfirmed transitions are piling up on the network and users aren’t being able to transact.

The reason for the glitch, according to a Reddit thread, is an “issue” with Bitcoin ABC, a client most cryptocurrency miners are running.

The client carried a code bug affecting the Bitcoin Cash mempool that was unrelated to the upgrade itself. The Bitcoin Cash blockchain requires miners to validate transactions and append new blocks. The mempool consists of all pending transactions on the blockchain awaiting approval by a miner.

The bug is stopping transactions from being processed. The issue, first spotted by BitMEX Research, occurred after the scheduled hard fork.

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Developers have now released new code to fix the bug, although its possible some transactions will need to be rolled back.

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Bitcoin Cash F**ked

Via: Bitcoin Cash F**ked

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
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A Financial Recession on the Horizon, Can Cryptocurrency Provide an Anchor for Stability?

The US National Debt Clock strikes $22,249,003,804,323 for a millisecond before jumping up faster than the blink of an eye, so by the time you are reading these words the debt will have only expanded further. How much larger can this number get? Representing the amount of unpaid borrowed funds by the United States Federal Government, the US debt will continue to increase at the rapid rate the government is spending.

As sovereign debt skyrockets, fears of another financial crisis abound, and diversification of assets is essential to help people preserve their savings and investments. This reality highlights an opportunity for stablecoin cryptocurrencies to offer a new financial standard and more predictable monetary system that will protect the financial standing of individuals, businesses, and governments.

A Financial Crisis on the Horizon

 According to Fortune, a Government Accountability Office report of April 10, 2019, said the “federal government’s current fiscal path is unsustainable,” and “the longer action is delayed, the greater and more drastic the changes will have to be.” To help alleviate this spiraling reality, the Congressional Budget Office (CBO) has calculated that by 2020, more than half of our income taxes will be used to service the national debt.

Greece implemented a similar strategy to help their own debt crisis by increasing taxes to pay back the government’s debt. This strategy has not been deemed successful as the country has yet to pay back its deficit, with payments scheduled beyond 2060. While increasing taxes can be a bandage for the problem, and an extremely unfavorable one for most citizens, US borrowed funds will continue to grow. Additionally, consumer spending, which contributes to more than two-thirds of the U.S. economy, has slowed to only 1.2% growth in the first quarter of 2019. These various economic factors are indicative of another economic recession around the corner.

How can we safeguard our financial holdings to ensure we don’t end up in the same financial turmoil of 2008 and protect our savings and investments from its dire, rippling effects?

What is the Solution?

One perspective, which belongs to Kristina Hooper, Global Markets Strategist at Invesco, is that in the midst of a future economic crisis, the increasing US debt can lead the government to be unwilling to help stimulate economic growth. As the US debt grows, the Federal Reserve will print more money, causing inflation and ultimately depreciation of the US Dollar’s value. In light of the consistently declining value of the US Dollar, the solution resides in a non-flationary baseline. A stable financial standard is the key to safeguarding purchasing power and retaining value.

Safeguarding Investments with Stablecoins

While most cryptocurrencies are extremely volatile, stablecoins that are built on a system of decentralized networks and are not pegged to depreciating fiat currencies, such as the US Dollar, stablecoins are going to vital piece to preserving one’s wealth during the next economic recession. In contrast to fiat, cryptocurrencies run on decentralized infrastructure so they cannot  be controlled by any single entity. This is a major breakthrough, offering an alternative economic system as we approach the next potential, yet inevitable financial crisis.

In theory stablecoins offer an ideal solution, however in practice, using stablecoins to safeguard our savings and investments would require a stable financial index as you cannot have a stablecoin without a stable peg of value. Unfortunately, most stablecoins to date are either pegged to the dollar, which has lost over 50% of its purchasing power over the last 25 years, or pegged to another cryptocurrency, which remain incredibly volatile.

Both global crypto and fiat markets face the same issue, which is that neither have a stable financial standard. With a potential financial crisis on the horizon, the adoption of a stable store of value will be crucial.

Contributed article by Daniel Popa, Founder and CEO of Anchor

 

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A Financial Recession on the Horizon, Can Cryptocurrency Provide an Anchor for Stability?

Via: A Financial Recession on the Horizon, Can Cryptocurrency Provide an Anchor for Stability?

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

Binance Hacked: $40 milllion taken from hot wallet

Just after midnight last night, digital asset exchange Binance announced that it had suffered a major security breach which led to $40 million of bitcoin being stolen from its hot wallet.

The first sign of trouble came around 8pm BST on Tuesday when CZ, the Binance CEO, sent out a tweet announcing “some unscheduled server maintenance”:

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Then four and a half hours later, Binance sent out this tweet to explain why deposits/withdrawals had been disabled:

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According to Binance, the hackers had used various techniques including “phishing, viruses and other attacks” to obtain “a large number of user API keys, 2FA codes, and potentially other info”. During the attack, Binance’s BTC hot wallet (which contained 2% of Binance’s bitcoin holdings) was affected, and the stolen 7,000 BTC (worth over $40 million) was withdrawn in a single Bitcoin transaction. It wasn’t detected because the whole attack happened within one confirmation – by the time the alarms had been triggered, the funds were gone.

In a Periscope session that was scheduled for 4am BST on Wednesday (May 8), CZ asked Binance users to reset their Two-Factor Authentication (2FA) credentials since Binance doesn’t know how many users affected. Additionally, he asked all API users to recreate their API keys.

The news has negatively affected the crypto markets today, although Binance has since said that it will reimburse affected users from is Secure Asset Fund for Users (SNAFU), a measure put in place in 2018 to ensure users do not suffer financial loss in situations such as these.

The post Binance Hacked: $40 milllion taken from hot wallet appeared first on CryptoNewsReview.

Binance Hacked: $40 milllion taken from hot wallet

Via: Binance Hacked: $40 milllion taken from hot wallet

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

Bitcoin hits $100 billion market cap on news institutional investment could come into the market

Bitcoin surged past $100 billion market cap for the first time since November 2018 after a combination of good news stories caused all the top cryptocurrencies to rise in price over the past 24 hours.

Most promising for crypto investors is the potential for institutional investment to inject fresh funds into crypto. Thanks to a survey from financial services giant Fidelity Investments, there’s strong reason to think it could come soon.

Fidelity, which began a Bitcoin custody service earlier this year and runs a digital assets division, ran a survey to find out how pensions, family offices, hedge funds, endowments and foundations feel about owning cryptocurrencies. According to the survey – which questioned 441 institutional investors from November to February – 47 percent of institutional investors said digital assets are worth investing in, and the same percentage said they appreciate crypto for being innovative.

Just as important, but not as widely reported, is the fact that 46 percent of respondents like the low correlation between cryptocurrencies and other asset classes. This proves that cryptocurrencies are the perfect hedge, and a good asset class to include in a diverse portfolio of investments.

Fidelity said it wants to change the fraud, theft and regulatory infractions that have tarnished the crypto market, and it’s up to the established financial services institutions (such as itself) to do this.

Adding to this news was an article in the Wall Street Journal detailing how Facebook is actively recruiting allies to support its under-construction cryptocurrency-based payments system. Internally dubbed ‘Project Libra’, the blockchain-powered initiative will reportedly feature a U.S. dollar-collateralised stablecoin. Visa and Mastercard are rumoured to be supporting the initiative and the Wall Street Journal even suggests Facebook might reward users with fractions of the stablecoin in exchange for viewing advertisements or even by simply using the social platform.

José Maria Macedo, Head of Advisory at AmaZix, commented on today’s news: “After a difficult year, price trends are indicating that the crypto winter is finally coming to an end. Interest in the crypto market is increasing again, with financial and tech businesses looking again at how they can implement crypto and blockchain into their models.

“Facebook’s move to integrate crypto into its payments system is the latest example of this and is yet another positive move which will bring crypto closer to a mainstream audience. I expect that this interest will continue for some time and more enterprises will begin to explore uses for crypto, as Bitcoin’s lack of correlation with other assets, and the macro demand for growth, will continue to drive institutional investment.

“From our point of view, we’ve seen a lot more demand for services around IEOs and STOs in recent weeks, as businesses explore how they can offer crypto services to their customers.”

 

The post Bitcoin hits $100 billion market cap on news institutional investment could come into the market appeared first on CryptoNewsReview.

Bitcoin hits $100 billion market cap on news institutional investment could come into the market

Via: Bitcoin hits $100 billion market cap on news institutional investment could come into the market

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange