Image of The Day, 30 of August: Quartz, South China Morning Post, Bangkok Post and Others
We're presenting “image of the day”. Bitnewstoday.com has chosen only the freshest and most important news about the digital economy and virtual currencies. Only the most valuable stories from only the trusted sources. Each and every event from this list will change the world of the digital economy either way. The most important of today's stories in most indicative quotes are below!
1. DON’T FEAR THE BITCOIN (Quartz)
India’s central bank is worried that its crypto crackdown may backfire
The Reserve bank of India (RBI) fears it may be pushing cryptocurrencies into the shadows.There is a need to keep track of trade in virtual currencies turning opaque, the RBI has said in its annual report released on Aug. 29.
“Developments on this front need to be monitored as some trading may shift from exchanges to peer-to-peer mode, which may also involve increased usage of cash,” the report said. “Possibilities of migration of crypto exchange houses to dark pools/cash and to offshore locations, thus raising concerns on AML/CFT (anti-money laundering/combating the financing of terrorism) and taxation issues, require close watch.”
2. BITCOIN RELATED ACADEMIC CREDENTIALS (Marketwatch)
Colleges are now offering cryptocurrency-related courses
A Ph.D. in bitcoin or blockchain? That soon may be a reality as interest in cryptocurrencies and their underlying technology has become more mainstream, prompting college campuses across the globe to promise courses in the nascent subject.
In partnership with research firm Qriosly, San Francisco-based Coinbase found that, nearly half of the world’s top 50 universities, as ranked by U.S. News & World Report, are now offering crypto or blockchain-related classes.
3. GREAT CHINESE BAN (South China Morning Post)
China's ban on cryptocurrency promotional events now extends beyond the capital
Guangzhou’s special economic zone in southern China has banned events promoting cryptocurrencies as the crackdown on digital money extends beyond the country’s capital of Beijing.
The Guangzhou Development District, which was established in the 1980s as one of China’s first special economic zones, issued a notice on August 24 that banned the hosting of events promoting cryptocurrencies. It cited “maintaining the security and stability of the financial system” as part of the reason.
4. STAR PROMOTION (news.bitcoin)
Japanese Actress Helps Tokyo Police Raise Crypto Cybersecurity Awareness
A Japanese actress and singer has helped the Tokyo Metropolitan Police Department raise awareness on cybersecurity issues, including cryptocurrencies. She reportedly took on the role of a cybersecurity manager in an event hosted by the department where participants learned about cybercrime countermeasures.
Approximately 1,700 guests, parents and their children attended. They learned about email phishing and fake websites that try to steal personal information and how to protect themselves from these security threats
5. AMBITIOUS GIANT (The Next Web)
Bitcoin mining giant BTC.com is launching an Ethereum mining pool
The world’s biggest Bitcoin mining pool is now set on dominating Ethereum. BTC.com, a subsidiary of cryptocurrency mining hardware giant Bitmain, has today released a new client specifically built to mine the Ethereum blockchain.
BTC.com currently accounts for roughly 16 percent of the computing power driving Bitcoin $BTC▼1.81% (hash rate). Similarly, it makes up around 14 percent of the Bitcoin Cash network. But, it seems that Bitmain is simply not content to dominate those two: Ethereum is next.
6. THEY WILL BE BACK (CNBC)
If bitcoin holds above $7,000 for the week, the bulls will jump back in
If bitcoin holds its value around $7,150, cryptocurrency trader Michael Moro says, it could be on its way back to $10,000.
"If the [$7,000] level holds, say for the next week, two weeks, the bulls will 100 percent be back. They will be more comfortable that the lows for the year are in, and that we are more likely to see $10,000, rather than $5,000," Moro said Wednesday on CNBC's "Fast Money."
7. FINNISH DELIGHT (Bangkok Post)
Finn 'satisfied' after bitcoin scandal talks
Finnish businessman Aarni Otava Saarimaa, who lost millions of baht in an alleged high-profile bitcoin scam, is now "satisfied" after negotiating a settlement deal with two key suspects who Tuesday acknowledged fraud charges pressed by the Crime Suppression Division (CSD).
"The two sides signed their joint agreement as evidence after talks," deputy CSD chief Pol Col Chakrit Sawasdee said after meeting Mr Saarimaa and the two Thai suspects --
well-known stock trader Prasit Srisuwan and Chakris Ahmad, a major shareholder of Expay Software Co.
8. ONLY 25% PERCENT (Bitcoin.news)
25% of All Smart Contracts Contain Critical Bugs
For every problem that smart contracts solve, they seem to introduce another. In a week in which EOS has made news for all the wrong reasons over a RAM vulnerability, a code auditor has revealed the prevalence of smart contract bugs. Security firm Hosho, which has forged a new partnership with community managers Amazix, has found that one in four projects contains critical vulnerabilities.
While it is industry practice to have smart contracts audited ahead of a tokensale, projects that have yet to raise funds may be tempted to cut corners and skimp on this task. Doing so can prove fatal, however, with the worst bugs leading to wallets being drained, or buffer overflow exploits being manipulated to alter account balances. Several Ethereum-based projects have been forced to conduct token swaps after screwing up their first attempt at a smart contract.
9. INDUSTRY FINEST (Standard Chartered)
Standard chartered, siemens partner to ‘fully digitize’ bank guarantees
UK multinational banking and financial services company Standard Chartered (SC) disclosed it is working on a blockchain pilot for bank guarantees using R3 Corda blockchain technology.
If successful, the project will “digitize trade and leverage real-time data to deliver efficiency gains and transform the way trade finance is conducted,” SC’s global head of trade products Samuel Mathew commented. “The future of trade is going to be all about data,” Mathew added.
10. BEFORE IT BECAME MAINSTREAM (Independent)
Bitcoin is on its way to becoming a mainstream currency, study suggests
Bitcoin is following the same path towards mass adoption as other technologies like the internet and social media, a comprehensive cryptocurrency study suggests. Using university students as a bell wether for future growth of emerging technologies, crypto exchange Coinbase teamed up with ad-tech firm Qriously to measure interest in cryptocurrency and blockchain.
Benedikt Bunz, a doctoral student at Stanford focussing on cryptocurrencies, said there was "tremendous excitement" among students in cryptocurrency, adding that, "if you're an expert in cryptocurrencies and cryptography you'll have a difficult time not finding a job."