Cryptocurrency Morning Brief
Jul 24, 2018
- A recent report about Samsung partnering with CopPay and accepting cryptocurrencies as payment in several Baltic states has turned out to be false. CopPay originated the rumor by posting on their Medium blog about the partnership and what it would bring to cryptocurrency users in these Baltic states, but Samsung has denied the claims.
- General Electric’s venture capital segment has joined a $12 million investment round in blockchain startup Xage Security. The investments will be used towards the development of its enterprise-grade security fabric project. The project will facilitate secure communication between devices in the telecom, energy, utilities, manufacturing, and building management industries, and their infrastructures.
- Wisconsin’s Libertarian Party Gubernatorieal Campaign will be one of the first to accept Bitcoin (BTC) as political donations. The Party is going ahead with this plan despite Wisonsin’s Ethics Commission finding them a “serious challenge” to state law compliance. The chairman of the Party believes that these donations are compliant with the law, and has no intentions to snub the commission.
- TRON, a decentralized entertainment platform with popular cryptocurrency TRX, has acquired BitTorrent, a major P2P platform operator. TRON founder Justin Sun calls BitTorrent “the first decentralized internet protocol with large-scale global application…” BitTorrent and TRON teams will eventually merge into one team.
- BitFunder operator Jon Montroll pleads guilty to federal charges of obstruction of justice and securities fraud. BitFunder permitted users to sell virtual shares of companies for Bitcoins (BTC). Hackers stole about 6,000 BTC from Montroll’s other company WeExchange, but he did not disclose the hack and indulged in illegal activities, lying to federal investigators.
- A study by the Bank of Canada finds that double spending is an “unrealistic outcome” of Proof of Work (PoW) protocol. The Bank of Canada attempts to model the behavior of honest and dishonest miners in order to test the efficacy of the protocol. The study concludes the digital ledger technology seeks to make users within the system responsible for maintaining/guarding the system.