“You can’t just create a coin and expect it to fly. You have to base it on the proper blockchain, have it structured such that it meets the specific needs of a country or economic situation,” says McAfee
The original and biggest virtual coin climbed as much as 4.5 percent in early trading to top $5,600 briefly, touching its highest since Nov. 18.
NEW YORK: Credit Suisse Group AG and ING Groep NV have completed a 25 million euros (22.2 million pounds) securities lending transaction using blockchain-based software, the companies said on Thursday, as more projects involving the nascent technology behind cryptocurrencies get closer to yielding results. The transaction involved the banks swapping baskets of securities through an application from financial technology company HQLAx built with a type of blockchain created by bank consortium R3, the companies said. The…
Technology firm Sirin Labs said on Thursday it had raised $118 million in an initial coin offering (ICO) to support the development of an open source blockchain smartphone. ICOs allow startups founded on cryptocurrency technologies such as blockchain to quickly raise capital by issuing virtual tokens to investors. Such offerings have become more common in the past year, but Europe’s top markets regulator warned last month they were “extremely risky and highly speculative investments.” Read More: The SEC just issued a…
NEW YORK: International Business Machines Corp has launched a service that will allow businesses to build applications on its cloud using blockchain code from the Hyperledger Project, the cross-industry group led by the Linux Foundation. The US technology company said on Monday its new product called IBM Blockchain was the first service for developers to build enterprise-grade technology using Hyperledger Fabric, the first code set to be released by the open source group. The Fabric blockchain can process more than 1,000…
NEW YORK: Hackers have diverted more than $50 million in digital currency from an experimental fund meant to demonstrate that such money is safe for use, according to the New York Times.