How blockchain could be used to tackle internal fraud. Fraud impacts organizations of all types and sizes across a wide range of industries and geographies. Consequences can be direct, through financial losses, or indirect, through fines and reputational fallout. In 2018, firms worldwide lost more than $7 billion to internal fraud schemes, according to a […]
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The co-founder of Cobinhood crypto exchange has been removed from corporate affairs due to his controversial behavior. Co-founder of Taiwan-based crypto exchange Cobinhood has been removed from corporate affairs since late April 2019, the firm announced on its Telegram group on May 6. Tai-yuan Chen, also known as Popo Chen, has “ceased to participate” in […]
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60% of bitcoin’s full-nodes are running software still vulnerable to the inflation bug at press time. According to bitcoin (BTC) node stats reported on the website of bitcoin core developer Luke Dashjr, 60.22% of the coin’s full-nodes are running software still vulnerable to the inflation bug at press time. According to the reported data, the […]
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Most of the top 20 cryptocurrencies are reporting moderate losses on the day as bitcoin has fallen under the $5,700 mark. Monday, May 5 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) has fallen under the $5,700 mark. Market visualization courtesy of Coin360 […]
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Social media giant Facebook reportedly acquired the rights to the “Libra” trademark for its secretive cryptocurrency project. Social media giant Facebook acquired the rights to the “Libra” trademark for its secretive cryptocurrency project, crypto news website The Block reported on May 3. The Block claims that a source familiar with the matter confirmed that Facebook […]
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The mystery account has made more than 587,000 transactions since it became operational on April 8. A single address has been responsible for more than half of the bitcoin cash (BCH) transactions in the past month, according to a tweet by @IamNomad on May 5. According to the Bitcoin Cash Block Explorer, the mystery account has made more […]
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A test ad campaign for PepsiCo found that using smart contracts increased efficiency by 28%. A test ad campaign for PepsiCo built on blockchain delivered a 28% increase in efficiency, according to a news release on May 6. Media agency Mindshare said the experiment was part of Project Proton, which uses smart contracts to ensure businesses only pay […]
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A top executive at one of Asia’s largest banks says trade finance needs to go digital because forged paper records have become too sophisticated. A senior executive at one of Asia’s biggest banks has said the $9 trillion trade finance industry needs to be digitized in order to tackle fraud, according to a Bloomberg article published on May […]
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Former chief economist at the World Bank, Joseph Stiglitz, says that cryptos do not have any of the attributes of a good currency. Famous American economist and Nobel Prize winner Joseph Stiglitz has reiterated his negative stance on cryptocurrencies in a CNBC video released on May 6. “I actually think we should shut down the […]
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The Federal Communications Commission wants to transform how it awards and makes use of scarce wireless frequencies. United States regulator the Federal Communications Commission (FCC) is considering blockchain for wireless network licensing, IT and fintech magazine ComputerWorld reported on May 6. In a speech at last week’s MIT Business of Blockchain conference, commissioner Jessica Rosenworcel […]
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