Image of The Week, 24-29 of December
Bitnewstoday prepared a selection of the most important stories by international media regarding blockchain and cryptocurrencies. Be sure to check the very last “Image of the week” digest of 2018 below.
Blockchain Will Survive A Cryptocurrency Apocalypse (Forbes)
A Forbes columnist Jon Markman predicted the Bitcoin collapse a year ago when this point of view wasn’t popular at all. Nowadays, in a world where we have more than 2500 cryptocurrencies, the author sees oversupply as the main problem. “There are currently too many coins and too many charlatans”, Markman says. However, even if all the tokens and ICOs go to zero, Bitcoin will probably survive and cost even more than today. Putting the first cryptocurrency aside, blockchain technology will definitely survive and should become a part of global digital transformation with such companies as Microsoft at the helm.
This is why a single global currency (like bitcoin) won't happen, says online payments company CEO (CNBC)
CNBC cites Scott Galit, the CEO of Payoneer, who says that the whole idea of one global currency, which Bitcoin obviously failed to become, is unrealistic. Governments don’t want to depend on the volatile exchange rates of cryptocurrencies and won’t accept tax payments in Bitcoin or other digital assets in foreseeable future. In addition, national banks should always have control over the currency and need to be able to change the interest rate. With crypto, this policy tool is out of reach for the governments.
US Defense Department Says Blockchain Can Help in Disaster Relief (Coindesk)
The U.S. Department of Defense has noticed an “enormous” potential in blockchain technology. The Troop Support division of the Defense Logistics Agency is going to become the main beneficiary of the technology implementation. Due to decentralization, the agency will be able to track data and thereby improve supply chain transaction processes and in-transit visibility of shipments. The Defence Department has already teamed up with Maersk and IBM in developing the blockchain-based supply chain platform.
North Korean Defectors’ Personal Data Was Stolen by Hackers, South Says (The New York Times)
Nearly 1,000 North Korean renegades who earlier escaped to South Korea were affected by the personal data leak. An unknown hacker group gained access to the database of the national resettlement agency. This became possible after several office computers were infected by some kind of malware. Unsurprisingly, North Korean state media denies the country’s involvement in any cyberattacks. However, this incident became another episode after cryptocurrency exchange hacking and stealing secret documents of the Defence Ministry, in which the South Koreans blame their northern neighbor.
KuCoin Cryptocurrency Exchange Removes 10 Tokens As They Fail to Maintain Listing Criteria (CCN)
10 cryptocurrency projects were delisted from the Singaporean crypto exchange due to its Special Treatment Rule framework. This policy is aimed to ensure that all listed cryptocurrencies meet certain minimum requirements in liquidity, roadmap adherence, market conduct, security and project solvency. Among others the delisting affected such tokens as: Jibrel Network (JNT), WePower (WPR), Modum (MOD), EthLend (LEND), BitClave (CAT). Which requirements the projects have failed to fulfill, KuCoin still hasn’t revealed.
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