The Abu Dhabi Ports’ wholly owned subsidiary Maqta Gateway LLC is now the first organization in the kingdom of Abu Dhabi to use its own Blockchain technology named Silsal. Silsal is targeted at improving efficiency in the shipping and logistics sector.
Cryptocurrency Market Updates
It is no secret that cryptocurrencies at a federal level in the United States are regulated by none other than the Financial Crimes Enforcement Network or FinCen. Interestingly, this also includes other regulating bodies such the Internal Revenue Service (IRS), the Commodity Futures Trading Commission (CFTC), the Office of Foreign Assets Control (OFAC), and the Securities Exchange Commission (SEC).
The cryptocurrency mining hardware AntMiner B3 made by Bitmain is drawing a lot of criticism, as is the company itself. This new product is aimed at mining Bytom’s token, BTM. In fact, the AntMiner B3 was launched on April 25, just one day after Bytom launched its own Blockchain network. The unit was priced at 17,000 Chinese Yuan (~$2,600) and was sold out within seconds of its launch.
The Blockchain based startup called Paxos just closed its Series B funding round and raised about $65 million through it. This round of funding was led by the startup’s existing investors, such as Liberty City Ventures, Jay Jordan as well as RRE Ventures.
According to Ethereum Classic’s (ETC’s) developers, the upgrade to the network was successfully completed. With the new upgrade, ETC mining is expected to remain viable. This new fork, called ECIP-1041, cut out the “Difficulty Bomb”, a feature that had been coded in with the original Ethereum network. This code had been designed specifically to exponentially increase the level of difficulty in ETH mining. However, this would cause the mining process to become so slow as to be impractical. Therefore, the developers moved to a Proof-of-Stake consensus algorithm to circumvent this issue.
The South African investment firm that has more than 180 billion Rand (~$14.5 billion) under its management, Sygnia Asset Management announced that it is planning to launch its own cryptocurrency exchange later this year.
According to the tech site TrustNodes, the drop in Ethereum’s price can be attributed to a large sale of ETH on cryptocurrency exchange Bitfinex. This sale, they assume, was made by EOS.
Market infrastructure giant IHS Market is creating a new Blockchain based system which will handle the payments part of syndicated loan trading. The expectation is that the firm will eventually handle a much wider suite of financial transactions. This new system, called Stax, which is a combination of smart contracts and wallets, is being designed to remove the last section of wire transfers – the part where each transaction needs its own wire
It appears that a 17th-century Italian mansion is being auctioned off but in a different way – through blockchain, that is. This is after Hilton & Hayland, a Beverly Hills real estate brokerage, partnered with blockchain startup Propy in order to auction the Palazetto. The latter is found inside the Palazzo Albertoni Spinola, which is a mansion built between the years 1580 and 1616.
Four months ago, the Blockchain based security firm had announced its intention to acquire the asset custodian Kingdom Trust. However, now the firm has announced that it will build its own instead. According to its announcement, the startup was looking at a charter to develop BitGo Trust, which would be regulated as well as qualified custodian specifically designed for digital assets.