The top news in the last 24 hours are shown below:
Barclays: Facebook Coin Could Bring $19 Billion Additional Revenue, and Here’s Why
Facebook is reportedly developing a cryptocurrency that could be part of a multibillion-dollar revenue opportunity, Barclays internet analyst Ross Sandler said in a note to clients Monday. Sandler forecasted as much as $19 billion in additional revenue by 2021 from “Facebook Coin.” Conservatively, the firm sees a base-case of an incremental $3 billion in revenue from a successful cryptocurrency implementation. He said:
“Merely establishing this revenue stream starts to change the story for Facebook shares in our view.”
Now You Can Earn Basic Attention Token (BAT) for Viewing Ads in Brave Browser
Last June, Brave announced that it would kick-start its Opt-in Ad Platform, an early access program, which aims at rewarding its users for enabling device-based ads, which do not expose data or track users. Explaining the rolling out feature, Brave then said:
“The model will be tipping — a user likes a tweet and can give BAT to the tweeter, and optionally tweet back that he tipped.”
As announced on Friday, users are now able to receive BAT by viewing ads. They wrote:
“Today, the Brave Ads Developer Channel Preview advances from phase one to phase two. Phase one provided the first public opportunity for brands, marketers, developers, and the community to test the Brave Ads experience from our Developer channel.
[…] Phase two provides token rewards to users for their attention, and introduces Brave’s anonymous-but-accountable campaign reporting for brands. “
Bancor to Enable EOS and Ethereum Cross-Chain Instant Swaps with New Wallet
Cross-chain swaps are an essential feature of the future blockchain economy to come. With Atomic Swaps still considered as new and reckless, other solutions are making their way to the forefront. Bancor, the first decentralized liquidity network, has announced the launch of a new non-custodial wallet. With it, users can instantly convert between Ethereum and EOS-based tokens, on-chain, and in a single action.
Rakuten, Bitpay, Starbucks And Kroger Might Spark Cryptocurrencies In Retail
Cryptocurrencies are far from mainstream in retail as of yet. However, that might change in the coming years since many big retail players line up to use and accept cryptocurrencies. Cryptocurrency payment provider had a record year despite declining crypto prices. Last year was a record year for Bitpay. For the second year in a row, they managed to get a revenue of over $1 billion in transactions. They are set to reach even higher results by adding new customers like the State of Ohio. Bitpay’s B2B grew by almost 255 percent from 2017.
Malta Appoints Cybersecurity Firm Ciphertrace to Monitor Crypto Transactions
The Malta Financial Services Authority (MFSA) has appointed U.S. cybersecurity company Ciphertrace to help with compliance monitoring of crypto assets. Ciphertrace will be expected to keep track of transactions that pass through local crypto exchanges and digital wallets including ICOs, screening for potential money laundering and terrorism financing violations.
Ledger Reveals Physical Exploits Against Trezor Hardware Wallets
The battle of the hardware wallets is heating up. At this weekend’s MIT Bitcoin Expo in Boston, Charles Guillmet, Chief Security Officer of Ledger, presented some physical attacks that could be executed against Trezor hardware wallets. He also outlined an attack on their rival’s device that Ledger has refrained from making public because it is not patchable.
EY Executive Says Bitcoin Has No Practical Use in India
An EY executive who recently visited India and met with many government agencies has voiced his opinion about the future of cryptocurrencies in the country. He believes that bitcoin has no practical use, is just another “foreign” currency, and its widespread adoption could be “very damaging to the global economy.”
Active Development for Most Bitcoin Forks Evaporates
A report published by Electric Capital has estimated that the number of developers working on public cryptocurrencies has doubled since January 2018. The research found that Ethereum has the largest development team of all established crypto assets, with 216 developers contributing to its codebase each month on average.
CFTC Requires Trading Platform to Pay $990K for Illegal Bitcoin-Related Transactions
The United States Commodity Futures Trading Commission (CFTC) has announced Monday, March 11, that international securities dealer 1pool Ltd. and its CEO Patrick Brunner must pay a total of $990,000 for illicit Bitcoin (BTC) transactions with U.S. customers. The Marshall Islands-based startup, which was offering BTC-funded security-based swaps, and its owner have been fined for illegally offering BTC-margined retail commodity transactions to U.S. investors. Moreover, the CFTC states that 1pool Ltd. failed to register as a futures commission merchant and did not comply with the required Anti-Money Laundering (AML) procedures.
EU Report Calls for Blockchain Interoperability Standards
A recent report to the European Union made recommendations on how to better develop blockchain technology, including the introduction of interoperability and scalability standards. The report was published by the European Union Blockchain Observatory and Forum on March 6.
“Currently the EU is active in supporting blockchain research in a number of ways, from the EU Blockchain Observatory & Forum […] to the allocation of up to EUR 340 million [$382 million] to support blockchain projects through 2020 under the Horizon 2020 programme. While these are laudable, the EU should not rest on its laurels. Both the U.S. and China have expressed strong support for blockchain research, with the former even going so far as to include it as part of its USD 700 billion defence budget.”
US State of Colorado Passes Crypto Exemptions Bill Into Law
The governor of the State of Colorado, Jared S. Polis has signed the “Colorado Digital Token Act” into law, according to a document published on March 6. The act — which was initially proposed in January and sponsored at the state Senate level by Republican Jack Tate and Democrat Steve Fenberg — provides limited exemptions for securities registration and traders, as well as salesperson licensing requirements for persons dealing in digital tokens.
Paxos’ Precious Metal-Backed Cryptocurrency to Launch This Year, CEO Says
Blockchain trust company Paxos’ digital token backed by precious metals will be launched “definitely this year,” said Paxos CEO, Chad Cascarilla in an interview with Fortune’s Balancing the Ledger on March 11. During the interview, Cascarilla was asked whether Paxos is working on a gold-backed coin, wherein he replied that “it is something we will see definitely this year.” “We are excited about the concept of being able to take a commodity, and I think precious metals are really obvious ones, and gold is probably the most obvious and being able to tokenize it,” Cascarilla added.
Mining Giant Canaan Seals ‘Hundreds of Millions of Dollars’ in New Funding: Report
Chinese cryptocurrency mining manufacturer Canaan Creative has completed multimillion-dollar funding round, local finance news outlet Securities Times reported on March 11. Canaan, which has not officially confirmed the report, is rumored to have raised an unspecified sum from as yet unknown backers.
Ethereum User Who Accidentally Paid $365,000 Fee Splits Loss With Mining Pool Sparkpool
Ethereum (ETH) mining pool Sparkpool confirmed it had come to an arrangement with a user who accidentally sent it over $300,000 in mining fees on March 11. The mix-up, which occurred on Feb. 19, involved an Ethereum user apparently confusing the fields required to send an ETH transaction.
MyEtherWallet Launches New Open Source Ethereum Blockchain Explorer
Major Ethereum (ETH) wallet provider MyEtherWallet (MEW) has announced the launch of the alpha version of its new open source Ethereum blockchain explorer, EthVM, in a tweet from the official MEW Twitter account on March 11. In the tweet announcing the news, MEW asked users to report their feedback on the tool, stating:
“Keep in mind that it’s still in Alpha – please report any issues and suggestions, and help us improve the platform!”
Russia: Central Bank Suggests Limiting Sale of Crypto Assets for ‘Unqualified Investors’
The Central Bank of Russia wants to set an annual limit for so-called “unqualified investors” that want to purchase digital assets; local business media giant RBC reported on Tuesday, March 12. According to the documents obtained by RBC, the bank wants to amend the current draft crypto bill, dubbed “On Digital Financial Assets,” which recently passed a second of three readings in Russia’s parliament, the State Duma.
HSBC Seeks Banking Partners in South Korea to Launch Voltron Blockchain Platform
United Kingdom-based banking giant HSBC is seeking banking partners in South Korea to deploy the blockchain platform Voltron in the country, Korean news outlet The Korea Times reports on Tuesday, March 12. As published, Voltron is a platform that enables companies to process and settle their trading invoices via blockchain. The solution was launched in October 2018 by blockchain consortium R3 and eight banks — including HSBC, ING and Standard Chartered — and is currently at the pilot stage.
Crypto Startup Behind Alibabacoin Agrees to Stop Using ‘Alibaba’ Name After Legal Action
Dubai-based crypto firm ABBC Foundation has agreed to stop using the name “Alibaba” for its cryptocurrency after legal action by Chinese e-commerce giant Alibaba Group, Reuters reported on March 11. The decision from ABBC Foundation is reportedly part of a settlement of an almost year-long lawsuit brought by Alibaba against the crypto startup.
Startup Finturi Raises $2.2 Million for Its Blockchain-Based Invoice Finance Platform
Dutch blockchain startup Finturi has secured 2 million euro ($2.2 million) to enable businesses to acquire loans against invoices via blockchain tech; the company tweeted on March 12. Founded in September 2018, Finturi aims to help businesses finance invoices by linking them with financiers to borrow money against invoices, using blockchain and artificial intelligence (AI), according to a report by startup-focused publication EU-Startups.com on March 11.
Binance’s Official Crypto Wallet Adds Support for XRP and Credit Card Purchases
The official wallet of leading cryptocurrency exchange Binance, Trust Wallet, has added support for credit card purchases and Ripple’s XRP token. The company announced the new features in a press release shared with Cointelegraph on March 12. Binance acquired trust Wallet in July of last year in the exchange’s first public acquisition.