Tuesday, May 22Your Daily Bitcoin & Altcoin News Portal
Indian Insurance Company Bajaj Allianz Speeds up Claims Process with Blockchain Tech

Indian Insurance Company Bajaj Allianz Speeds up Claims Process with Blockchain Tech

BLOCKTECH
Bajaj Allianz General Insurance, an Indian insurance major, has announced a successful implementation of blockchain technology into its operations. The new solution, targeting its travel and motor insurance products will speed up the claims settlement process. The announcement by Bajaj Allianz, a collaborative initiative between Indian auto major and German Insurance giant, comes weeks after Allianz revealed its plans to use a distributed ledger solution for managing Catastrophe bonds (CAT Bonds). The new blockchain implementation in the Indian market is said to be cutting down the time required for processing claims. The Head of IT, Web Sales and Digital Marketing at Bajaj Allianz General Insurance, Sourabh Chatterjee was quoted by a business magazine saying, “This [blockchain
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Investors Find Digital Gold to Be More Attractive Than Actual Gold

Investors Find Digital Gold to Be More Attractive Than Actual Gold

BITCOIN, MINING
The” Digital Gold” is in the process of displacing the actual gold from its coveted position as an investment instrument and a store of value. Bitcoin and more recently Ethereum have become the investors’ favorite following their stellar performance. Thanks to the rapid growth of both cryptocurrencies this year, the digital currency market is witnessing a massive influx of funds. According to investment experts, the growth of cryptocurrency market is coming at the expense of gold. The shifting trend is further contributing to the meteoric rise of the cryptocurrency market as a whole. A leading business magazine quotes Tom Lee, the managing partner and head of research at Fundstrat Global Advisors saying, “Cryptocurrencies are cannibalizing demand for gold. Bitcoin is arguably be
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Why Does America Hate Crypto So Much To Become No Go Zone For ICOs?

Why Does America Hate Crypto So Much To Become No Go Zone For ICOs?

ALTCOINS
The US is rapidly becoming a ‘no go’ areas for ICOs as some states and the SEC want to lock everyone up that is linked to the new capital market for no other reason as it dilutes their power and authority. Please spare me the arguments against ICOs. It is not as they proclaim about protecting investors interests, the people – because not only do these bodies not care, they stand back and let the bankers do what they want. ICOs kill innovation? And then the regulators pay for negative PR again proclaiming ICOs kill innovation because they see the real threat coming. ICOs are where the crowd decides who wins and who loses and not the few. In 2008 did they protect investors or again today as another subprime car loan bubble emerges? Yet we let them get away with it, and why ICOs are a
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Spain’s Bitnovo Announces Roll-Out of 4000 New Locations

Spain’s Bitnovo Announces Roll-Out of 4000 New Locations

BITCOIN
Spanish bitcoin payment platform, Bitnovo, has announced the addition of 4000 new locations allowing customers to purchase bitcoin using cash in Spain. 2017 Has Been a Big Year for Bitnovo Bitnovo has revealed the launch of 4,000 new physical locations throughout Spain via Twitter this week. The outlets will allow customers to directly exchange fiat currency for bitcoin. Bitnovo’s expansion comprises an 800% increase in the number of locations previously available in Spain, of which there were approx. 500 prior to the rollout. 2017 has been a big year for Bitnovo, with the company’s bitcoin Visa prepaid debit card also being launched in 130 countries. The move signifies Bitnovo’s expansion beyond the Spanish cryptocurrency market and desire to establish itself as a major inter
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“That Guy’s” Response to Robert Kiyosaki of Rich Dad/Poor Dad on Anarcho-Capitalism

“That Guy’s” Response to Robert Kiyosaki of Rich Dad/Poor Dad on Anarcho-Capitalism

THE DOLLAR VIGILANTE
I recently ran into Robert Kiyosaki, author of Rich Dad, Poor Dad, and had heard him say many anarchist sounding things so thought I would ask him if he was an anarchist. I detailed what happened next here, “Is Robert Kiyosaki of Rich Dad/Poor Dad MK Ultra Mind Controlled or Just Having a Nervous Breakdown?” Yesterday, he responded to what happened with, “Why I Flipped Out on the Guy Who Called Me an Anarchist.” He never actually referred to me by name. Only calling me “that guy” who is a “semi-celebrity”. But, his response begins, "During the event, I was approached by a stranger who asked me if I was an anarchist. I informed him I wasn’t, but he kept pressing the issue, eventually pushing me to the point of extreme irritation. Turns out the man is a semi-celebrity i
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The War On Cash: Australia Considering Chipping Senior’s Money To Stop Them From Saving

The War On Cash: Australia Considering Chipping Senior’s Money To Stop Them From Saving

THE DOLLAR VIGILANTE
Ten years ago I wrote on my personal travel blog, “Australia sucks”. In it I detailed, “Australia seems to have more rules than any other country on the planet I have visited. There are signs outlining rules everywhere. I was even on a street that had a street-sign denoting that particular street as being an alcohol-free street. No alcohol is allowed to be consumed or even carried on that street?? I presume that even includes inside the houses on that street by the way it was written!” I haven’t been back to Australia for years for this exact reason. It is one of the most oppressive countries in the world. So, it actually comes as no surprise to hear that the Australian government is considering putting tiny identification chips in its $100 bills to track them and to stop people
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Bitcoin Exchange Receives US Commodity Futures Trading Commission Approval

Bitcoin Exchange Receives US Commodity Futures Trading Commission Approval

BITCOIN, EXCHANGE
In a move that may surprise many in the cryptocurrency world, the US Commodity Futures Trading Commission (CFTC) announced that LedgerX has officially been granted status as a Swap Execution Facility (SEF). This represents a major hurdle in the company’s overarching plan of becoming the first federally recognized exchange able to trade Bitcoin options. The final step to this major achievement is the approval from the CFTC as a Derivatives Clearing Organization (DCO). Once this has been granted, LedgerX will be the “first federally regulated Bitcoin options exchange and clearinghouse to list and clear fully-collateralized, physically-settled Bitcoin options for the institutional market.” The company is now among a very rare breed of only 25 financial groups who have SEF status includi
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IBM’s Trade Finance Solution on Blockchain to Be Adopted by 7 European Banks

IBM’s Trade Finance Solution on Blockchain to Be Adopted by 7 European Banks

ADOPTION
The banking industry’s infatuation with blockchain technology is well known. In the forefront of the development of distributed ledger solutions for the industry is the tech giant IBM which is currently working on a trade finance solution for leading European banking institutions. IBM identified the project addressing the present challenges faced by the trade finance segment following a survey conducted in collaboration with the Economist Intelligence Unit. Through this project, the company will be aiming to simplify the trade finance transactions for small and medium-sized businesses, states a recent report on one of the financial news publications. Seven banks including Deutsche Bank, KBC, and HSBC will use the IBM’s blockchain solution. In a statement, the general manager of t
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The Healthcare Industry Turns to Blockchain Tech for Security

The Healthcare Industry Turns to Blockchain Tech for Security

ADOPTION
The healthcare industry has to cope with various problems regarding the security and the privacy of valuable data. In the recent years, hospitals were serving as the major target for cybercriminals who conducted ransomware attacks on the institutions. In April, both U.S. and Canadian cyber security agencies – the Computer Emergency Readiness Team and the Canadian Cyber Incident Response Center – issued warnings to healthcare providers regarding the increased number of ransomware attacks. This is the point when blockchain tech comes in. Many of the aspects of the blockchain technology, including speed, cost efficiency, and security, makes it a great choice to integrate it into the healthcare industry. IBM Watson Health announced in January that they are cooperating with the US
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Vitalik Buterin States Etheruem’s Current Issues

Vitalik Buterin States Etheruem’s Current Issues

ETHEREUM
Among many criticisms that the Ethereum originator believes are valid, which are listed as follows: Scalability sucks; the blockchain design fundamentally relies on bottlenecks where individual nodes must process every single transaction in the entire network PoW is extremely expensive, and furthermore is fundamentally vulnerable to 51% spawn camping attacks with no effective strategy for recovering from one. Selfish mining is profitable starting at 25-33% hashpower, and 51% censorship attacks are definitely profitable. Privacy sucks It’s hard for regular users to hold large amounts of funds without running substantial risks of theft or loss due to theft or loss of their private keys. Economics do not encourage good “storage hygiene”; insufficient incentives for clea