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Crypto Weekly - Jan.18


Another week is coming to end in cryptocurrency market, during which Bitcoin has been consolidating into a trading range of $3,500 to $3,700 after a big drop in value in the previous week.

Here is a collection of the popular stories from the cryptocurrency and blockchain space during this week.

NASA proposes Blockchain-powered Air Traffic Management

The National Aeronautics and Space Administration (NASA) published a proposal for developing a blockchain-powered infrastructure for air traffic management, that is expected to provide security, authentication, and privacy. The current radar-based air traffic service providers only preserve privacy for military and corporate operations by procedurally preventing public release of selected flight plans, position, and state data.

Malaysia implements Cryptocurrency and ICO regulation

Malaysia's Finance Minister YB Tuan Lim Guan Eng announced that cryptocurrencies and initial coin offerings have come under regulation on Tuesday. The Securities Commission Malaysia (SC) said it will issue guidelines to regulate offering and trading of digital assets. The relevant regulatory framework is expected to be launched by the end of the first quarter.

51% Attacker Returns $100,000 in Ethereum Classic to Crypto exchange

Cryptocurrency exchange Gate.io, which was targeted in a recent hacking, said the ETC 51-percent attacker returned $100,000 worth of Ethereum Classic to them. The exchange said its attempt to contact the 51-percent attacker met with no response. "We still don't know the reason. If the attacker didn't run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security," Gate.io said in a statement.

Bulgarian Tax Authority To Inspect Cryptocurrency Trading Platforms

Bulgarian tax authority The National Revenue Agency or NRA is planning to conduct inspections on cryptocurrency trading platforms, Bulgarian media reported. The objective is to ensure that crypto companies and their clients comply with tax and social security laws. The agency has targeted nine enterprises to gather information about the exact nature of their activity and look for undeclared revenues and potential attempts at tax evasion.

WWF Australia Launches Blockchain Tool to Track Food Supply Chain

Australia's World Wildlife Fund (WWF) launched a blockchain-powered tool called OpenSC to track food supply chain. The tool has been jointly developed by WWF-Australia and BCG Digital Ventures, a Boston Consulting Group (BCG) business unit, OpenSC tracks a product from its point of origin, such as the moment a fish is caught at sea. Data is added on to it as it moves along the supply chain, which the end consumers can verify.

News Industry consortium to develop blockchain-powered publishing platform

A news industry consortium is looking to develop an advanced open-source publishing and revenue-generating platform for digital news startups. The platform to be called Newspack by WordPress.com will be developed on WordPress.com's cloud-based platform. The platform is expected to many smaller news startups that struggle with the complexities of technology selection, development, maintenance, hosting, and security, which in turn can be an obstacle to effective revenue generation.

HSBC settled $250 bln worth forex trades on blockchain last year

Asia-focused lender HSBC said it settled $250 billion worth of forex trades using blockchain in the last year. Since February, HSBC has settled over 3 million forex trades and made over 150,000 payments using the distributed ledger technology. The bank used its FX Everywhere platform to co-ordinate payments across its internal balance sheets.

University of Bahrain to issue diplomas using Blockchain

University of Bahrain (UOB) is to issue blockchain-powered digital diplomas using the Blockcerts open standard, in partnership with blockchain technology company Learning Machine. It claims to be one of the first universities globally to issue digital diplomas on blockchain.

Tech Startup Blockspring Team Joins Coinbase

Blockspring, an application program interface or API data management company, announced that its team is joining major cryptocurrency exchange and wallet provider Coinbase. In a blog post, the San Francisco-based startup said it will continue to operate as an independent company and that its products will continue to operate for current and new customers.

IBM Teams With Ford, MineHub To Use Blockchain In Mining Supply Chain

IBM said it joined with Ford Motor Co., Huayou Cobalt, LG Chem and RCS Global to launch a blockchain pilot program to trace and validate ethically sourced minerals. Separately, IBM has collaborated with mining technology company MineHub Technologies, Inc. for a blockchain technology-based solution to use in the global mining and metals supply chain.

BitFury launches blockchain-powered Music and entertainment division

U.S.-based blockchain technology company BitFury created a blockchain-powered music and entertainment arm called Bitfury Surround . The Surround platform will design blockchain solutions to address challenges faced by artists and other stakeholders in the music industry. The platform is expected to enhance the protection of intellectual property rights, and also create a sustainable environment that fairly compensates artists and stakeholders.

Current Prices

As of this writing, Bitcoin is gaining 0.51 percent or $18.24, trading at $3602.50 on Coinbase. Ethereum is up 0.25 percent or $0.31 at $120.04.

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