I guess some of you read about the Tezos case and the battle for leadership between the founders and the Swiss foundation who was in charge of the ICO and developing the platform; a battle that negatively impacted on the value of the Tezos token and is putting the whole project at risk after it raised about $ 230 million through an ICO. Some investigations are ongoing to find out what happened and eventually violations of securities laws.

My question here is, will it be possible to accuse and sentence Tezos since the company which handled the ICO is a Swiss foundation and since the ICO was described as a non refundable donation?

It might sound that the money will stay in Switzerland...but an improvement of the ICOs’ governance would definitely benefit the investors.

Here is a link to the a summary of the case and its current situation: https://www.cointelegraph.com/news/what-lessons-can-be-learnt-from-tezos-ico-debacle

Do they? I haven’t read any statement saying that they have been sentenced and should pay it back. Besides, I read that they described the ICO as a non-refundable donation...

I have been reading today an article about the potential risks that could affect mobile wallets after the upcoming bitcoin hard fork (segwit2x). Some are basically saying that the mobile wallet software could get confused about which chain to follow etc...

Is it actually really an issue or another too cautious article? Since I have been following the cryptocurrencies just lately, maybe you have experience from previous forks and if these risks are actually accurate or not?

I have been reading about the intention of Ethereum creator to shift from Proof of Work to Proof of Stake. I have also been reading about the pros ans cons of it, and I was wondering how it will be implemented. I mean, those who invested in hardware might not support the idea, or others might have other ideas...That's what comes out from that article https://www.coindesk.com/new-classic-protesters-already-plotting-alternative-ethereums/  with Ethereum Vega, Etherite, maybe some developers having other ideas...

Is Byzantium a way to start convincing ethereum miners that PoS will be a better pay than current PoW?

And since PoS is getting a lot of fans, then I wonder why the value of the coins using that protocol isn't increasing that much?

How do you see it?

Institutionals and governments are more and more getting interested in the blockchain technology. Some countries actually started to implement some blockchain related projects. Offering security, transparency, efficiency, operating quicker and being more accurate, the blockchain technology can definitely be seen as a great tool and opportunity to upgrade and improve some institutionnal processes where citizens are interacting and concerned (certificates, land registry, voting system...) through smart contracts for example.

Different companies are developing platforms in order to position themselves on this fast growing market: Microsoft (Azure platform), Factom, Clearpoll, Invotra to name just a few of them. Their solutions are however rather at an experimental stage and successful tests and implementation will condition their further development. Even if some governements are keen, others are still looking at these technologies suspiciously. Successfull implementations in partly public sectors, like energy, may be of help and a great example for institutions who are still hesitating whether going further or not.

Governments and institutionnals eyeing at the blockchain technology and considering its implementation will probably quicken the ongoing works aiming at drawing a legal framework taking blockchain technologies into account. The question remains how quick this will happen: looking at how quick e-government procedures have been implemented, it still may take a while.

For those interested by the subject: https://www.ethnews.com/blockchain-services-for-governments

I wanted to share here with you some info about an upcoming ICO and token sale, related to the healthcare sector. Here is a short summary of the whitepapper of Medicalchain project. Medicalchain is about improving the healthcare system by decentralising patient data and making it accessible and digital to all healthcare professionnals using the blockchain technology.

Medtokens, based on Ethereum, will allow the patients to store their data on the blockchain and benefit from instant updates when using wearable devices (bracelets). Doctors will be rewarded tokens when reviewing data and providing advice. Pharmaceutical companies will be rewarding patients to get time limited access to their health records. Trusted users will get tokens when checking ID, contact details and doctors' credentials. Insurance companies will be rewarding patients with tokens to access their health records in order to provide them with accurate insurance premium. The blockchain will allow a safe and secure storage and transfer of electronic health records, save time and provide the different healthcare professionnals with accurate and up to date patients medical records.
The platform is currently being developed (on trial in 3 hospitals in UK).

Regarding the ICO, the pre-sale started on Sept 15th while the ICO will take place on Feb. 2018. For more info:
https://medicalchain.com/en/

Lumens $XLM has just passed 100% price jump against BTC and ETH, and is already with #1 volume at several major markets it is being traded.

This cryptocurrency got this boost thanks to IBM's collaboration announcement with Stellar and thus debutting blockchain network for crossborder payments. https://www.coindesk.com/ibms-stellar-move-tech-giant-use-lumen-cryptocurrency-payments-rail/

The rise of two cross border payment platforms, Ripple and Lumens, makes me think about the airlines alliances, the question being which one will attract the most, the financial institutions' one or the IT technology focused one?
Here is a link to an article trying to describe the similarities and differences between both cross border payment platforms: https://themerkle.com/ripple-vs-stellar/

I haven't heard so much lately about the Golem project, except for saying that its ICO was a great success (raised US$8.6 million in 29 minutes).

The idea itself, that is to say creating a global, opensourced and decentralised supercomputer, is great and up to date since sharing economy is booming. I just have been wondering how it has been going so far with the development besides the fact that it got delayed.

For those who are not familiar with it, here is a link giving a good insight in what Golem project is: https://www.coindesk.com/analyzing-golems-blockchain-token-sale/

It has been a long time since there were articles about Tether. Here is a link to a recent one I happened to find today https://themerkle.com/will-the-federal-reserve-go-after-tether-eventually/

I have been following a bit what's going on and latest articles and videos on youtube are not so enthousiastic about it.

Does anyone of you have some experience with Tether and what is your opinion about it? Does it raise concerns?

The idea itself was rather good, but it seems to me that other companies like Bitshares raise less suspicions.

It has been a long time I haven't seen any article or post about the ripple (latest dating 2012?), so that I thought it could be a good opportunity to publish something updated about it, reminding what it is and what it has achieved.

Ripple is a payment protocol that has been developed in different stages since 2004 with the idea of creating a decentralised monetary system and allowing its users to create their own money.

This protocol enables secure, instant and nearly free global transactions by using any type of currencies, commodities or any other measure of value. Like the blockchain, the protocol is decentralised and based on a shared, public ledger. It has its own digital currency, the XRP, that only exists within the ripple system. The system is described as cryptographically secure (cryptographically signed transactions) and algorithmically verified, even though, contrary to the blockchain, the validation process is not "mined" but relies on a consensus among members of the network. Even if the protocol's features include privacy, ID verification procedures have been introduced and only transactions through registered money services businesses are allowed.

Ripple has been increasingly successful since 2013, being adopted by many banks and payment networks and allowing payments to bitcoin addresses. The market capitalisation of its digital currency has reached about 7 billion $ in 2017, being thus among the biggest cryptocurrencies.

Now the question is if it will one day surpass the bitcoin. Here is the latest interview of Ripple's CEO that can give some insights : https://www.forbes.com/sites/quora/2017/10/04/ripples-ceo-on-cryptocurrencies-and-the-future-of-xrp/#5805fa3837cd

ICOs have become quite popular to bypass rigourous processes put in place by institutions for startups to raise money and thus finance their activity/project.

However, with no consensus on their legal status and the regulation that should apply, many countries and their institutions are advising people to be cautious due to the high volatility and level of risks linked with cryptocurrencies. Shall ICOs be regulated as IPOs and obey existing securities regulations? In order one to make his own opinion about it, here are some of the pros and cons of such a regulation:

-Disadvantages: if money raising fraudulent, no jurisdiction to protect the investors, no equitable ownership, no rights equivalent to being a shareholder, companies have not produced yet any real or tangible results, anonymised transactions

-Advantages: in an ICO, the company may not be subject to direct tax, very little regulatory oversight, firms can raise funds through individuals trading fiat or other virtual currencies, if the money raised does not meet the required amount, the campaign will be written off as a failure and money returned to backers

Companies have raised $180m in ICOs so far in 2017. The question remains if they will still remain so popular whether the regulations will be tightened and whether tokens would be more considered as stocks/shares. Past ICOs should actually be used as a model or a reference to identify good practises and failures and use it to suggest further improvements from a legal point of view. So far, so good.

There have been lately a lot of articles about the risks of money-laundering and ransomware attacks flourishing around the world, mostly thanks to crypto-currencies because of the anonymity they provide.

Fortunately enough, some people are looking at the bright side and suggesting possibilities about how the blockchain technology could be improved and how it could actually better serve anti money-laundering regulations than paper money (read https://bravenewcoin.com/news/blockchain-could-provide-the-answer-to-the-anti-money-laundering-issues-that-crypto-currencies-face/ ).
In fact, since there is only one type of entry and exit point, the identification of the users could be required at the beginning and end of a transaction through their digital wallet (not all countries are requiring it so far). Besides, cryptocurrencies are almost impossible to forge.
Furthermore, the blockchain protocol foresees that a block is only added to the ledger only when a required number of miners has verified the transaction.
Therefore, on one hand, the protocol could be revised to limit transactions to "Know Your Customer" (KYC) verified wallets only. On the other hand, anti money-laundering risks, alerts and support mechanism could be integrated within the cryptosystem.

The blockchain technology being something relatively new and developping quickly, the current anti money-laundering is of course not suitable and regulations are not evolving at the same pace as new technologies. Nothing new about that. But as the article suggests it, there are solutions to improve the blockchain technology as money-laundering issues are concerned. The challenges will be finding a concensus among key players in the industry to find a suitable solution as well as enforcing additionnal regulations.

There have been lately a lot of articles about the risks of money-laundering and ransomware attacks flourishing around the world, mostly thanks to crypto-currencies because of the anonymity they provide.

Fortunately enough, some people are looking at the bright side and suggesting possibilities about how the blockchain technology could be improved and how it could actually better serve anti money-laundering regulations than paper money (read https://bravenewcoin.com/news/blockchain-could-provide-the-answer-to-the-anti-money-laundering-issues-that-crypto-currencies-face/ ).
In fact, since there is only one type of entry and exit point, the identification of the users could be required at the beginning and end of a transaction through their digital wallet (not all countries are requiring it so far). Besides, cryptocurrencies are almost impossible to forge.
Furthermore, the blockchain protocol foresees that a block is only added to the ledger only when a required number of miners has verified the transaction.
Therefore, on one hand, the protocol could be revised to limit transactions to "Know Your Customer" (KYC) verified wallets only. On the other hand, anti money-laundering risks, alerts and support mechanism could be integrated within the cryptosystem.

The blockchain technology being something relatively new and developping quickly, the current anti money-laundering is of course not suitable and regulations are not evolving at the same pace as new technologies. Nothing new about that. But as the article suggests it, there are solutions to improve the blockchain technology as money-laundering issues are concerned. The challenges will be finding a concensus among key players in the industry to find a suitable solution as well as enforcing additionnal regulations.

Have you visited Showtime’s website recently? If so, you may be a cryptocurrency miner. An observant Twitter user was the first to sound an alarm last month that the source code for the Showtime Anytime website contained a tool that was secretly hijacking visitors’ computers to mine Monero, a Bitcoin–like digital currency focused on anonymity.

It’s still not clear how the tool got there, and Showtime quickly removed it after it was pointed out. But if it was the work of hackers, the episode is actually part of a larger trend: security experts have seen a spike in cyberattacks this year that are aimed at stealing computer power for mining operations. Mining is a computationally intensive process that computers comprising a cryptocurrency network complete to verify the transaction record, called the blockchain, and receive digital coins in return (see “What Bitcoin Is, and Why It Matters”).

Lately the same mining tool that appeared on Showtime’s website has been showing up all over the Internet. Released just last month by a company called Coinhive, the tool is supposed to give website owners a way to make money without displaying ads. But malware authors seem to be among its most voracious early adopters. In the past few weeks, researchers have discovered the software hiding in Chrome extensions, hacked Wordpress sites, and even in the arsenal of a notorious “malvertising” hacker group.

Coinhive’s miner isn’t the only one out there, and hackers are using a variety of approaches to hijack computers. Kaspersky Lab recently reported finding cryptocurrency mining tools on 1.65 million of its clients’ computers so far this year—well above last year’s pace.

The researchers also recently detected several large botnets set up to profit from cryptocurrency mining, making a “conservative” estimate that such operations could generate up to $30,000 a month. Beyond that, they’ve seen “growing numbers” of attempts to install mining tools on servers owned by organizations. According to IBM’s X-Force security team, cryptocurrency mining attacks aimed at enterprise networks jumped sixfold between January and August.

The researchers say that hackers are especially attracted to relatively new alternatives to Bitcoin, particularly Monero and zCash. That’s probably in part because these currencies have cryptographic features that make transactions untraceable by law enforcement (see “Criminals Thought Bitcoin Was the Perfect Hiding Place, but They Thought Wrong”). It’s also because hackers can generate more profits mining these newer currencies than they can with Bitcoin. Bitcoin-mining malware was extremely popular two or three years ago, but the currency’s popularity has, by design, made it more difficult to mine, warding off this kind of attack. Hackers are now embracing newer, easier-to-mine currencies.

Malware containing cryptocurrency mining tools can be relatively straightforward to detect using antivirus software, says Justin Fier, cyber intelligence lead for the security firm Darktrace. But illegal mining operations set up by insiders, which can be much more difficult to detect, are also on the rise, he says—often carried out by employees with high-level network privileges and the technical skills needed to turn their company’s computing infrastructure into a currency mint.

In one instance, Fier’s team, which relies on machine learning to detect anomalous activity inside networks, noticed an employee at a major telecom company using a company computer in an unauthorized way to communicate with his home machine. Further investigation revealed that he had planned to turn his company’s server room into a mining pool.

So long as there is a potential payday involved, such inside jobs are likely to remain high on the list of cybersecurity challenges that companies face. As for keeping hacked websites from hijacking your personal computer? In an ironic twist, some ad blockers are now banning Coinhive.

Source: https://www.technologyreview.com/s/609031/hijacking-computers-to-mine-cryptocurrency-is-all-the-rage/

I would agree with Vit05, a lot of PR and marketing these days. However, since it's offering a very strong privacy (more than bitcoin), it may attract some users seeking for more anonimity, if you see what I mean...

Bithumb, one of the world’s biggest exchanges for cryptocurrencies such as Bitcoin and Ethereum, added support for a new cryptocurrency on Tuesday.

Based in South Korea, Bithumb listed Zcash, a privacy-centric digital money based on a blockchain, a public accounting ledger that tracks virtual currencies, allowing people to buy and sell them without the need of a middle-man like a bank. Zcash is similar to Bitcoin and Ether, the most popular cryptocurrencies, in that it consists of a network distributed across a global swarm of volunteer machines, except it affords greater anonymity to transactions. (For a primer on Zcash, read this.)

Bithumb’s addition of Zcash comes a day after CEX.io, another cryptocurrency exchange based in England, added support for the cryptocurrency.

South Korea has become a hotbed for cryptocurrency activity, despite a recent crackdown on “initial coin offerings” or ICOs, a financial mechanism that allows entrepreneurs to mint their own virtual coin-like token and sell them through crowdsales. China recently banned ICOs, while the U.S. has taken a more tailored approach, where SEC regulators have called out particular scams.

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Bithumb was rumored to be adding Zcash for at least a week leading up to Tuesday’s announcement. In the days leading up to a Sept. 28 report anticipating the news on BTCNews, an outlet devoted to cryptocurrency coverage, the market value for Zcash shot up more than 70% to nearly $400 per Zcash token, though the price has since fallen back down to around $240.

David Lim, global business development manager at Bithumb, told Fortune in an email that the exchange takes multiple factors into consideration when deciding whether to add a new cryptocurrency. “Bithumb considers the coin’s Security, Technology, and Investment worth when listing a coin,” Lim wrote. He said that Zcash had met their criteria, noting that “its technology provides the strongest reason.”

Zcash differs from other cryptocurrencies in its use of “zero knowledge proofs,” a cutting edge cryptography concept that uses nifty mathematical functions to conceal certain information related to transactions, like the identity of the payer and payee as well as the amount paid. The technology is still very new and, therefore, still undergoing testing.

Zcash boosters say the cryptocurrency is compelling because it allows people to transact without requiring them to post all of their financial details in public. The virtual currency also attempts to solve the problem of fungibility, treating every Zcash token like every other Zcash token, regardless of their provenance. (In Bitcoin, one could imagine a scenario in which an exchange or government censors transactions based on where they originate or get sent.)

Bithumb now lists nine different cryptocurrencies for people to trade: Bitcoin, Ethereum, Ethereum Classic, Dash, Litecoin, Bitcoin Cash, Monero, and Zcash. Lim noted that the number transactions related to Monero, which Bithumb listed in August, and Zcash are growing rapidly.

This summer Bithumb disclosed that hackers had pillaged tens of the thousands of dollars as well as personal information of customers from its servers. The breach was not as disastrous as the infamous Mt. Gox hacking in 2014, which resulted in that exchange’s closure.

“Bithumb will continuously introduce competitive coins in Korean market by studying their technology and considering the cryptocurrency market status,” Lim said.

For more on Zcash, watch the interview with Nathan Wilcox, project manager at Zerocoin Electric Coin company, makers Zcash, which Bithumb recently posted to its official YouTube channel.

Source: http://fortune.com/2017/10/03/bitcoin-korean-cryptocurrency-zcash/

An effort to allow investors to trade digital currencies as easily as stocks stumbled when backers withdrew two proposals to list bitcoin funds.

Intercontinental Exchange’s NYSE Arca exchange on Wednesday withdrew an application with the U.S. Securities and Exchange Commission (SEC) to list Grayscale Investments’ Bitcoin Investment Trust.

Also on Wednesday, Van Eck Associates Corp pulled a registration document for a bitcoin fund after saying the SEC told them they would not review the filing until futures contracts on the digital currency start trading.

“Although digital currency market regulation continues to rapidly evolve, at this time Grayscale does not believe there have been enough regulatory developments to prompt the SEC to approve the … application,” Grayscale said in a statement. They said they would continue their dialog with regulators.

The Bitcoin Investment Trust is currently traded “over the counter” in less formal exchanges than those used for typical stocks and at far higher prices than the bitcoin it holds.

Shares traded down 3.2% to $715.50 on Thursday, far higher than the issuer’s appraisal that its bitcoin assets are worth $386.60 per share.

GBTC shares gained nearly 500% this year, more even than the 332% rise of bitcoin to more than $4,100.

The currency’s meteoric rise prompted JPMorgan Chase CEO Jamie Dimon this month to call bitcoin “a fraud” that will blow up.

Bitcoin can be used to move money with relative anonymity, and without the need for a central authority, such as a bank or government.

SEC approval could bring more investors to the asset, yet the regulatory agency has expressed doubts over the bitcoin market being unregulated. The SEC declined to comment. NYSE could not be reached.

In March, the SEC blocked two potential bitcoin products, including one backed by Cameron and Tyler Winklevoss, twin investors best known for feuding with Facebook Inc founder Mark Zuckerberg. CBOE Holdings’s Bats exchange, which wanted to host that exchange-traded fund, appealed the ruling.

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A proposal to list a product based on ether, another digital currency, was pulled earlier this month.

Bitcoin-tracking products already trade in Europe and one is being considered in Canada.

Regulators have not weighed in on two other efforts to bring a digital currency to U.S. exchanges, including a proposal filed on Wednesday by ProShare Capital Management for a fund that would short bitcoin futures, betting their prices will fall.

Source: Fortune

Bahrain, one of the major oil-producing country in UAE, is turning to digital currencies as part of their financial structure.  According to Khalid Al Rumaihi, the chief executive of the Economic Development Board of Bahrain, the adoption of digital currencies in the system of Bahrain had been suggested over time through the finance ministry of the country.

This has lead to a conclusion of the issuance of "bonds on a digital currency."

Become pioneer of the growing cryptocurrency industry
Bahrain wants to become a pioneer in the burgeoning fintech space and according to Rumaihi, national adoption of Blockchain technology will be a key enabler of this.

Rumaihi stated that Bahrain is "open to Bitcoin" in response to a query made at the MIT Innovation Forum last Wednesday in the country's capital city Manama. Adding to being open to cryptocurrencies and their potential in the country a regulatory sandbox is a key to allow the experimentation in a controlled environment like the island country.

Furthermore, the Bahrain Central Bank recently put in place a regulatory sandbox. Four companies applied so far, and two had already received approval. Rumaihi said at the GCC Financial Forum in Manama earlier this year:

“The ability for Blockchain to be adopted at the country level is a huge opportunity for Bahrain to move into the spotlight as a pioneer in this space. Blockchain will unlock so many different possibilities for business in the way email and Internet did years ago.”

Joint venture with Saudi Arabia
An opportunity for a partnership with an established Bitcoin company from Saudi Arabia has opened its doors for Bitcoin exchanges in Bahrain. Rumaihi said that they are working with the Central Bank of Bahrain in the proposal.

Last month, Bahrain-based Arab Banking Corporation, also known as Bank ABC, joined the R3 distributed ledger consortium, becoming the first bank in the Middle East and North Africa region to join the group.

The collaboration of the two countries will allow the bank to develop innovative financial products for its clientele and “propel us further to achieve our strategic goals" as stated by Sael Al Waary, deputy group CEO at Bank ABC. The change of digital currency in the Middle East is seen on a positive note that any country can develop into a more advanced country.

Source: https://cointelegraph.com/news/bahrain-is-eyeing-at-becoming-middle-east-pioneer-in-blockchain