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Posts Tagged ‘blockchain’

South Korea Budgets $880 Million for Tech Including Blockchain

The South Korea government will invest over $880 million next year in order to boost the development of innovative technologies including blockchain. According to a government release on Tuesday, South Korea’s deputy prime minister Kim Dong Yeon hosted a ministerial meeting on Aug. 13 to address the administration’s investment plan for innovation growth in the…

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South Korea Allocates One Trillion Won for Blockchain Technology in 2019

South Korea is showing a greater interest towards the field of cryptocurrencies, budgeting upwards of one trillion won (around $880 million) for the fields of blockchain technology, AI, and the sharing economy.  South Korea Doubles Investment in Blockchain According to an official press release, South Korea will invest a total of 5 trillion won (around $4.4…

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Coders Renew Efforts to Fork Mining Giant Bitmain Off Siacoin Blockchain

New code is set to be released that would make obsolete the mining hardware designed by chip maker Bitmain for the decentralized storage protocol siacoin. Revealed in an email obtained by CoinDesk, Obelisk, a startup that aims to offer alternative mining equipment for the protocol, has proposed code would give those running the software the…

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BMO, Pension Plan Pilot Blockchain for Fixed Income Issuance

Canadian financial firm BMO Capital Markets is working with the Ontario Teachers’ Pension Plan on a new blockchain pilot. The trial sees the two firms register a fixed income issuance on a blockchain platform in an effort to assess the viability of using the technology for this purpose. “The transaction included Bank of Montreal as…

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Korean Blockchain Groups Blast Plan to Strip Crypto Exchange Benefits

Several blockchain associations in South Korea are pushing back against a government plan they fear will stifle industry innovation. The groups are objecting to a proposal aired by South Korea’s Ministry of SMEs and Startups on Monday for an amendment to the country’s existing venture business law that would, if enacted, exclude cryptocurrency exchanges from the category…

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SEC Expands Inquiry Into Riot Blockchain, Filing Reveals

The legal woes of biotech company-turned-crypto miner Riot Blockchain don’t appear to be slowing down. In the firm’s latest 10-Q quarterly report, filed to the U.S. Securities and Exchange Commission (SEC) on Tuesday, Riot Blockchain provided more details about the SEC’s investigation into the firm’s blockchain pivot, noting that the regulator is now looking into…

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Insurance Ratings Bureau Pilots IBM Blockchain for Automatic Reporting

The American Association of Insurance Services (AAIS) is turning to the IBM Blockchain platform to support a new automated insurance reporting tool, the organization announced Wednesday. Built on IBM Blockchain using Hyperledger Fabric, the open Insurance Data Link (openIDL) system is aimed to simplify regulatory reporting by allowing insurance carriers to store data on a permissioned…

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Y Combinator’s New China Chief Is Bullish on Blockchain

Y Combinator (YC) has just announced a new China division and its chief believes blockchain will bring long-term advantages to startups, according to a report The Silicon Valley-based seed investment firm, which has incubated notable startups including Reddit, Dropbox and crypto exchange Coinbase, officially announced its entry into the Chinese market in a blog post…

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Playboy Files Fraud Lawsuit Against Blockchain Startup

Adult entertainment publisher Playboy is suing a Canadian blockchain startup for fraud and breaching a contract the two companies signed earlier this year. According to a lawsuit filed in early August with the Los Angeles Superior Court, Playboy and Global Blockchain Technologies (GBT) signed a memorandum of understanding in March stating that GBT would help Playboy…

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