Bank of America is in the crypto news again, this time for acquiring a patent for a cryptocurrency aggregation system that will allow companies to store customers’ crypto deposits on a special account and offline storage in an enterprise. This way safekeeping of the funds is guaranteed.
Other patents mainly focus on the blockchain technology but, this system is a huge step up for crypto. The patent was approved by the US Patent and Trademark Office yesterday.
The current system of the Bank of America is made of memory for storing customers’ accounts as well as to handle crypto deposits and also to identify public keys with the relevant customer. The processor aggregates the crypto into an enterprise account.
This patent application was filed in 2014 where it was noted back then that the crypto transactions are growing incredibly and that crypto transactions are becoming more common. Companies and merchants around the world also started accepting cryptocurrencies and their number is also on the rise.
This move could spike further crypto adoption and could possibly encourage businesses to transact in crypto as well. However, this idea is a major turn off for many crypto users and enthusiasts because of the large gap that exists between the two worlds.
Despite that, Bank of America hopes to provide an efficient system that will put fees aside and to eliminate the third-party currency exchange to conduct a currency exchange. In the meantime, Michael Wuehler who is one of the inventors of many blockchain patents suggested that these patents are meaningless and want to deceive the public’s perception of innovation and banks.
Bitcoin Copyright Registrations Don’t Recognize Wright As The BTC Creator
“In a case in which a work is registered under a pseudonym, the Copyright Office does not investigate whether there is a provable connection between the claimant and the pseudonymous author.”Also, as mentioned in the latest cryptocurrency news, by registering the source code for bitcoin does not mean that you protect the intellectual property for the largest cryptocurrency as an invention. The Copyright office can also cancel the registration application if it finds that the gathered information is a false claim. The office can also deny the application if it finds out that the person who claims to be an author of a piece of work is not the real identity of who they claim to be. Over the past few weeks, a scandal around Bitcoin Satoshi Vision (BSV) which is the altcoin backed by Wright himself, got the creator in the eye of the international community when the crypto exchanges around the world started delisting his coin when he went after everyone who said that he is not the real Satoshi Nakamoto. Wright went after the crypto user Hodlonaut after he called him a fraud and he stated that he is not the real creator of bitcoin. Wright sued the crypto user and this is when the entire crypto community showed their solidarity with Hodlonaut.
Crypto Startup Circle Fires 10% Of Its Staff Due To Harsh Regulatory Climate
“Today we made organizational changes at Circle and eliminated approximately 30 positions, which is about 10% of our employees. We made these changes in response to new market conditions, most importantly, an increasingly restrictive regulatory climate in the United States.”As it was previously reported in the altcoin news, Allaire outlined the slow progress on the unification of the patchwork regulatory landscape but he said he was very hopeful that improvements will follow in the future. He commented while he attempted to explain why the crypto startup Circle cut off the access to multiple trading pairs on Poloniex which is a crypto exchange that was acquired by the company in 2018. Allaire also underscored Circle’s health as a company in general by saying:
“Circle remains strong and healthy, and we will continue to drive new product innovation and growth globally, working with jurisdictions that offer forward-looking policies regulating digital asset businesses, while we press for more balanced crypto policy in the U.S.’’Also, the crypto news outlet The Block reported that Circle even lowered its March fundraising goal which was $250 million by 40 percent but the sources remained unknown. Circle is simply another company in the industry business to get a shed of its workforce fired over the past two years. The climate was extremely challenging due to the harsh crypto winter. For example, the Bitcoin mining giant Bitmain and the crypto startup ConsenSys had also reduced the number of the staff because of the bad climate. Huobi was one of the companies which also cut down on its workforce during the crypto winter. Since then, the markets rebounded and bitcoin increased and is slowly approaching $8,000. The rest of the crypto market also reported moderate gains and their prices are slowly increasing and strengthening.
YouTuber PewDiePie Helps Blockchain Platform Grow Its User Base By 67%
“I think the lack of transparency and the huge cut that platforms take from content creators, are the two biggest problems the online streaming industry has. And blockchain is the perfect technology to solve both problems.”However, this is not the final goal for DLive. The company and the YouTuber PewDiePie are planning to grow beyond its rival which is the Amazon-owned live streaming video platform Twitch - known for taking a 50% cut from streamers and having more than 2.2 million daily broadcasters and 15+ million daily viewers on average. Lino managed to raise $20 million in February 2018 to build the "YouTube on the blockchain" as they defined it, a topic that was re-shared by many best cryptocurrency news sites. The money apparently helped them contact and sign a deal with the YouTube streamer PewDiePie.
Initial Exchange Offerings (IEOs) Supported By Bitfinex: Report
“What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.”Tokinex will have its token sale on June 13th. Only users who will qualify will be able to participate in the token sale. The Tokenzied projects that use Tokinex will pay a fee if they hit a higher fundraising goal. Initial Exchange offerings and security token offerings represent the watchdogs of the next altcoin wave. Users will send Bitcoin or Litecoin in an exchange with a predetermined amount of coins from the brand new blockchain. The majority of the projects as reported in the best cryptocurrency news sites, that have funded via ICO failed and eventually lost their value for their investors. Tokinex is now entering a very competitive space with the most popular competitor being Binance Launchpad. Most of the exchanges have some kind of a platform that helps the new tokenized projects to lift off the ground. Launching a token via an exchange platform has a lot of benefits such as better liquidity and a higher degree of trust. Tokinex is represented as the ‘’trusted home of token sales’’ and goes live soon.
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