India’s Central Bank Targets Blockchain Payments While Hating Bitcoin

Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. Get Exclusive Analysis and Investing Ideas of Future Assets on Hacked.com. Join the community today and get up to $400 in discount by using the code: “CCN+Hacked”. Sign up here. A man was at a café. He was glaring through the menu and decided to order himself a glass of lime water. But it wasn’t just any other lime water…

IMF and World Bank Launch Quasi-Cryptocurrency in Exploration of Blockchain Tech

The International Monetary Fund (IMF) and the World Bank have jointly launched a private blockchain and a so-dubbed quasi-cryptocurrency, the Financial Times (FT) reports on April 12. According to the newspaper, the asset called “Learning Coin” will be accessible only within the IMF and World Bank. The coin has no money value and thus is not a real cryptocurrency, the FT underlines. As the FT has learned, “Learning Coin” was launched in order to better understand the technologies that underlie crypto assets. Its app will serve as a hub where…

Puerto Rico Approves Combination Bank for Fiat and Digital Assets

The San Juan Mercantile Bank & Trust International (SJMBT), a new bank in Puerto Rico catering to cryptocurrency traders, is now fully operational. SJMBT announced its receipt of all appropriate licensing from Puerto Rican regulatory officials to begin offering “fiat and digital asset custody and settlement services,” which are “to be integrated with the trading platforms offered by its affiliate, the San Juan Mercantile Exchange (SJMX).” The combination of both fiat and digital asset services may be an advantageous offering for SJMBT customers. “Deposits of fiat currency are held by…

Bitcoin Basher Agustin Carstens Rails Against Central Bank Crypto Plans

Agustin Carstens, Bank for International Settlements (BIS) general manager and a noted bitcoin critic, has said that the launch of central bank-backed crypto assets could undermine financial stability. During his speech at the Central Bank of Ireland, the BIS official said: “There are huge operational consequences for central banks in implementing monetary policy and implications for the stability of the financial system. Central banks do not put a brake on innovations just for the sake of it. But neither should they speed ahead disregarding all traffic conditions.” Considering the role…

Bitcoin (BTC) Demand Could Stem From Increasing Bank Scandals

Bitcoin prices consolidating but bullish Obscure banks real culprits in money laundering Transactional volumes drop below average Findings indicate that centralized global banks are agents of money laundering and not Bitcoin or cryptocurrencies as peddled by mainstream media. With high transparency level of public blockchains as Bitcoin’s, the native coin, BTC stands to be the money of the web further pumping prices up. Bitcoin Price Analysis Fundamentals From the very inception, Bitcoin as tech is adapting. With a slew of accusations that the global, decentralized “new money” is anonymous and…

Brazilian Bank Aims to Raise $15 Million Through Security Token Offering

A Brazilian investment bank is planning to raise millions of dollars through the offering of a security token. In an announcement Thursday, Banco BTG Pactual said it will back its blockchain-based token with distressed Brazilian real estate assets, with the expectation of raising up to $15 million. It will also establish a secondary market following the sale in order to provide liquidity to the tokens. The offering will allow investors to invest in the Brazilian real estate market and, based on the performance of the tied assets, receive periodic profits. International investors will be…

XRP and Ripple Stand to Benefit if the World Bank and McKinsey Projections are True

Ripple prices are stable but bullish SendFriend receives $1.7 million from Ripple and three other companies Transactional volumes are unexpectedly low four days after Feb 8 expansions Despite Cory Johnson exiting the company, XRP is stable as Ripple invests in SendFriend. XRP prices stand to break above significant resistance levels. What we would like to see is first prices printing above 34 cents as bulls of Jan 30, and Feb 8 are confirmed. Ripple Price Analysis Fundamentals Let’s crunch in some numbers. In 2016, the World Bank estimated that workers…

Philippines Union Bank Launches Crypto ATMs

One of the Philippines largest banks, Union Bank, is set to launch the first two-way crypto ATMs in the country. Union Bank Crypto ATMs Customers will be able to buy and sell cryptocurrencies for cash through the ATM. The idea is to provide an easy and accessible means for crypto to fiat conversion and vice versa. The move may help to spur on adoption for the digital asset. Union Bank said the following on the crypto ATMs: “In the bank’s continued quest to cater to the evolving needs and tastes…

Bank of America Files Patent for Blockchain-enabled Cash Handlers

Bank of America (BoA) has filed another blockchain patent, documents with the USPTO reveal. The American multinational investment bank stated that it would use blockchain, the underlying technology which powers the world’s leading cryptocurrency Bitcoin, to handle some portions of its cash handling devices. The patent, titled “Banking Systems Controlled by Data Bearing Records, mentioned blockchain around 58 times, indicating how the digital ledger technology would improve their traditional cash deposit and withdrawal protocol. A cash handling device, in general, assists banks in dispensing, counting and tracking their cash flow to…

Bank of America Reveals New Blockchain Patent Targeting Cash Handling

Bank of America (BoA) wants to patent a system using blockchain technology to improve cash handling, a new application published Dec. 25 confirms. Originally submitted in June 2017, the patent references “banking systems controlled by data bearing records.” “Aspects of the disclosure relate to deploying, configuring, and utilizing cash handling devices to provide dynamic and adaptable operating functions,” its abstract reads. BoA explains there remain communication difficulties in aspects of cash handling duties across banks’ huge operations, and suggests blockchain could help ease these. “Cash handling devices may be used…