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Cryptocurrency portfolio manager Brian Kelly has been touting Bitcoin Cash for weeks, and now he’s doubling down on his bullish call. Bitcoin Cash outperformed other leading digital currencies, the latter of which have taken it on the chin in recent weeks. The Bitcoin Cash price advanced 6% over the last month compared to declines of
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Efforts to study the benefits of introducing the Australian government to blockchain were partly a personal request from the prime minister.
Australia’s $530,000 blockchain research push this year came as a result of a specific request by Prime Minister Malcolm Turnbull, reports reveal Tuesday, May 22.
According to local news outlet ITNews, which quotes government officials, Turnbull had explicitly asked the country’s Digital Transformation Agency (DTA) – a body tasked with bringing government services into the digital age – to study blockchain.
“The Prime Minister in fact wrote to our minister [assistant minister for digital transformation Michael Keenan] and asked us to have a look at blockchain, which evolved into this particular piece of work,” DTA chief digital officer Peter Alexander said.
Alexander was referencing the agency’s $700,000 AUD ($530,000) budget award for the year 2018-19, specifically dedicated to the technology.
“The Government will provide $0.7 million in 2018-19 for the Digital Transformation Agency to investigate areas where blockchain technology could offer the most value for Government services,” the budget document states.
The DTA similarly confirmed the buzz around blockchain on Tuesday.
As Cointelegraph reported earlier this month, the move constitutes one of several focusing on how the government can best leverage blockchain’s advantages, including looking at trade supply chains.
“ASIC (the Australian Securities and Investments Commission) [was] looking at blockchain, Immigration – now Home Affairs – was looking at blockchain and considering it, and more agencies were talking about it,” Alexander said, adding:
“Lots of vendors were [also] coming to government and talking about blockchain.”
Privacy-centric cryptocurrency Verge (XVG) appears to have succumbed to a 51 percent attack for the second time since the beginning of April. According to data published on BitcoinTalk by forum user ocminer — operator of altcoin mining pool Suprnova — an attacker appears to have successfully forked the Verge blockchain through a 51 percent attack.
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Following the footsteps of Tim Buckley, the CEO at Vanguard, an investment firm that oversees $5.1 trillion in assets, the company’s chief economist Joe Davis stated that he sees the price of bitcoin dropping to zero in the long-term. Argument 1: No Viable Use Case The core argument Davis offered on his ETF.com opinion piece
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The Mitsubishi Group has successfully completed a pilot sending money from Thailand to Singapore using Thai Krungsri bank’s blockchain tech.
Several major global banks have successfully completed a cross-border payment pilot test using Thai bank Krungsri’s (Bank of Ayudhya) Blockchain Interledger, according to a press release May 22.
The pilot, conducted in the Bank of Thailand’s (BOT) regulatory sandbox, was executed by Japan’s Mitsubishi Group, their banking unit MUFG Bank, and the Standard Chartered Singapore bank.
The test involved sending money in a period of seconds from a Thailand-based Mitsubishi Group subsidiary to the Standard Chartered account of a Singapore-based Mitsubishi Group Subsidiary, using Kungsri’s Interledger tech.
Thakorn Piyapan, head of the Krungsri Consumer Group and the Digital Banking and Innovation Division, said of the pilot that the “technology-based transaction helps enhance their subsidiaries’ financial liquidity toward greater flexibility and efficiency.”
Krungsri is currently Thailand’s fifth largest bank by total assets.
Yesterday, the MUFG Bank – which is Japan’s largest bank, and the fifth largest bank in the world by total assets – announced that it had partnered with major U.S.-based cloud delivery platform Akamai Technologies for the release of a blockchain-based global payment network. MUFG Bank also reported last week that it plans to test its own cryptocurrency by 2019.
Last week, Thailand introduced a legal framework for cryptocurrencies, defining them as “digital assets and digital tokens” and bringing them under the regulatory umbrella of the Thai Security Exchange Commission (SEC). Yesterday, the Thai SEC clarified its approach to crypto-related businesses and fundraising through Initial Coin Offerings (ICO) in a live-streamed focus group.
Today, May 22, marks the eighth annual Bitcoin Pizza Day, commemorating an important milestone in the journey to mainstream bitcoin adoption. On this day in 2010, Florida-based programmer and early cryptocurrency enthusiast Laszlo Hanyecz enshrined his name in bitcoin lore by paying someone 10,000 bitcoins to order him two pizzas from his local Papa John’s … Continued
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