by Ian | Feb 7, 2020 | Bitcoin, Bitcoin (BTC), Bitcoin Cash, Cool, Cryptocurrency, DASH, Economic Freedom, International, News, Update |

Anypaymap.com shows the most active crypto-accepting businesses in the area.

With her new business, EuPHOria, the founding chef of Keenes Pho Keene Great, Isabelle Rose, has struck out on her own and is now regularly meeting customers in Keene with hot Vietnamese food cooked-to-order. Another recent addition is Pure Bliss Clean, a professional cleaning service that handles home and small businesses. Also, Kenzy Dietz of KD Prestige Detailing recently won Monadnock Cryptos radio giveaway contest on 92.7 Bratt FM and decided to set up Anypay Cash Register shortly thereafter. Dietz had already been introduced to cryptocurrency by someone close to her and was elated to be the winner of the $500-worth-of-crypto giveaway. When asked what her reasons were for accepting cryptocurrency at her car detailing business, Dietz said, Cryptocurrency is the currency of the future, so I am delighted to be a local business that accepts it as payment. Not only is it easy to accept, but its a great way to broaden my businesses acceptance of alternatives to paying with just cash, checks, or debit. The future is coming.

You can read the full article over on the Monadnock Crypto blog here.

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Keene Solidifies Position as Global Leader in Cryptocurrency Acceptance with Three More Businesses Onboard in January! - Free Keene

The U.S. Federal Reserve is experimenting with blockchain technology to establish potential use cases for a central bank digital currency (CBDC). Feds Governor Lael Brainard said this in a recent speech, but she also noted that risks still exist, and they have to be addressed before launching a digital currency.

As reported by Reuters, Federal Reserve Governor Lael Brainard recently mentioned the countrys potential involvement in central bank digital currencies, or CBDCs. According to her, the U.S. central bank is researching the feasibility of issuing a digital currency.

We are conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC.

We are collaborating with other central banks as we advance our understanding for central bank digital currencies.

Cryptopotato recently reported that a survey from the Bank of International Settlements (BIS) regarding the emerging trend of CBDCs. The findings were that 80% of all participating banks are working on launching their own digital currency.

Brainard also noted the extreme competition in the field and added that there are a set of reasons to also be making sure that we are the frontier of both research and policy development.

Interestingly enough, less than two years ago, Brainard appeared extremely against the idea of launching a CBDC. Aside from all regulatory hurdles that she mentioned, Feds Governor also indicated that there is no compelling demonstrated need for a Fed-issued digital currency.

Now, though, the situation has changed dramatically as she referred to Facebooks plans to launch its own cryptocurrency Libra. Brainard said that ever since it was announced last year, it brought imparted urgency around the digital currency topic.

The Governor believes that projects similar to Libra could deliver additional risks, which need to be addressed before the product is live:

Some of the new players are outside the financial systems regulatory guardrails, and their new currencies could pose challenges in areas such as illicit finance, privacy, financial stability, and monetary policy transmission. according to Brainard.

Ultimately, she seemed more optimistic regarding the positive benefits of digital currencies, and concluded that by transforming payments, digitization has the potential to deliver greater value and convenience at a lower cost. Despite Facebook intentions, the Libra project may not come alive, according to Facebook itself.

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USA Is Looking Closely To Launching Its Own Cryptocurrency, According To Fed Governor Lael Brainard - CryptoPotato

CoinList co-founder and president Andy Bromberg discusses the trajectory Libra and Bitcoin could take in 2020.

Cryptocurrency is slowly but surely becoming an popular form of payment.

Despite the growing curiosity in crypto, however, governments are cracking down on the digital currency because it is decentralized, meaning it has no central authority in the way the U.S. government holds authority over the dollar. Therefore, some experts believe crypto poses athreat to central banks and national security.

So, why should someone risk investing in a currency unregulated by the government and that is subject to potential digital threats?

One man, sitting in his office next to the mining rig, using computer for mining bitcoin. / iStock

"The benefits of cryptocurrency are many and profound," cryptocurrency education company Luno CEO Marcus Swanepoel told FOX Business in a statement."Weve heard how its going to solve problems across the current financial system that nothing else could everything from the truly significant, such as banking the unbanked, to the seemingly trivial, such as providing a more efficient way to buy a car."

HACKERS STOLE $41B OF BITCOIN ON ONE OF THE WORLD'S LARGEST CRYPTO EXCHANGES

"Cryptocurrency is not just a financial instrument. Its also a technology. Any benefits it offers are only possible because of the strength of the technology that underpins it because it works,"Swanepoel added.

Cryptocurrencies don't use middlemen, so transactions are usually easier, faster and require less or no additional transaction fees.

Some experts believe, however, thattaking out the middle man goes beyond these simple benefits.

WHY CRYPTO AND BLOCKCHAIN ARE PICKING UP SPEED IN TINY COUNTRIES

Swanepoel said cryptocurrency has the ability to"give power back to the people. To eliminate current social structures and systems that disenfranchise individuals. To provide the foundations of a system thats transparent yet secure. Where corruption is exposed and rampant inflation ended."

Each cryptocurrency transaction is a unique exchange between two parties, which protects users from issues like identity theft.

"Cryptocurrencies can do this because of the technology that underpins them blockchain," Swanepoel said."Blockchain technology is decentralized. This means that no one person, institution or government has central control. Rather, it is the network that is in control. Policies are hardcoded in, and it cannot be manipulated to suit agendas."

US, CHINA AND THE RACE FOR DIGITAL CURRENCY

This is another reason why governments feel threatened by digital currency.Crypto is more confidential and therefore a favored form of payment among criminals trading illegal goods and services. But there is also a general lack of trust in corporate and government operations, Swanepoel said.

Woman using a smartphone displaying a bitcoin wallet screen. / iStock

"The financial system as it exists today is built on trust. But people no longer trust that it exists to help them that it helps only people working in the industry," he said. "Cryptocurrency removes this need to trust peoples motivations."

On a global scale, more people have access to the internet than they have to banks or other currency exchange systems. This opens the opportunity for underprivileged people to establish credit.

Swanepoel suggested that crypto could be the key to eradicating global poverty and corruption for this reason.

"Cryptocurrency is uniquely positioned at the apex of technology and finance. It has been lauded as a potential game-changer for society, poised to eliminate corruption, bank the unbanked, and redistribute wealth in a way thats fairer and more equitable,"Swanepoel said.

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During Luno's Pennydrop initiative, which shares the stories of ordinary people who use cryptocurrency, the company met "many people who first got into crypto because of its potential to help build a better society," he said."Whether it was understanding something in the fundamental design of cryptocurrency ...or seeing first-hand its impact on a more personal level, there was a real belief that it could be used for good."

Cryptocurrency offers an opportunity for international business people or partiesto make one-on-oneexchanges online without the complications and added fees that traditionally come with international currency exchanges that involve third parties.

Millennials should invest in bitcoin, billionaire investor says

Cryptocurrency ishappening now. The currency became a topic of interest when the worldwitnessed the sudden drastic rise and subsequent fall and steady rise again with Bitcoin between 2017 and 2019. It sparked interest and education. Now, cryptocurrency is becoming more a part of the everyday norm than some people realize.

"Cryptocurrency is money for the digital age. It leverages technology in such a way that its able to integrate seamlessly into the digital ecosystem. It is native to the internet, which allows it to work in conjunction with other technologies," Swanepoel said."A square peg in a square hole. Not money as we know it today a round peg in a square hole, developed and built for the analog age."

Maglan Capital Co-founder and President David Tawil similarly said technology, in general, has"rendered massive upheaval and disruption to every business line"

Now, that technology is moving into the way the world uses currency.

"It is the natural and logical next step in financial services in the world," Tawil said. "Once upon a time, shares of stock were physical and transferred physically; those shares are now entirely digital. Similarly, currency needs to be digital and global."

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What are the benefits of cryptocurrency? - Fox Business

The cryptocurrency market is relatively in the green, however, some digital assets are performing better than the others. For example, Ripple is trading 10% higher in a 24-hour period. On a daily basis, XRP is up 4.44%. Bitcoin is trading subtly upwards and hovering around $9,200. Ethereum, on the other hand, has grown 1.4% higher on the day.

Ripple is arguably the best-performing crypto on the market. The massive gains in a relatively bullish market are likely to have been a result of the partnership between a Nasdaq-listed international remittance company referred to as Money Express otherwise known as (Intermex).

Intermex is adopting Ripples On-Demand Liquidity (ODL) solution which utilizes XRP for cross-border transfers. The announcement was made by the two firms of Wednesday. The CEO of Intermex, Bob Lisy said in regards to the partnership:

"We are pleased to have begun the partnership with the Ripple team, and look forward to implementing new solutions on RippleNet and ODL to help drive growth and deliver greater efficiency."

According to Ripple:

"Intermex is one of the largest U.S. to Mexico remitter service providers in the worldprocessing more than 30 million payment transactions a year through a network of 100,000 payer locations.

At the time of writing Ripple is trading at $0.2787 after adjusting from $0.2817 (intraday high). It is apparent that XRP is unlikely to break past $0.3, although the level remains to be the buyers short term goal. TraderSmokey, a popular analyst on Twitter said XRP closing above the 200-day SMA suggests that more upside action seems imminent.

XRP Daily Close Update: Closed above the 200MA + Kumo Breakout on Poloniex, not yet on Binance though. Either way, highly bullish in my opinion. I could see a small retrace but ultimately I think XRP will run to 3744 Sats in the coming days / weeks.

NEO is also sending fireworks across the cryptocurrency skyline just like XRP. The cryptoasset is up 4.43% on the day and trading at $12.68. The bulls remain largely in control during the Europeanhours and the trend is expected to continue in the remaining sessions. However, traders should watch the RSI for reversal signals as well.

On the other hand, Dash is doing a great job catching up with both Ripple and NEO. It is up until 2.7% on the day while still maintaining a bullish trend. Dash has already jumped above the critical $115 hurdle but failed to sustain gains towards $120. It is essential that the buyers remain focused on breaking above $120 in the near term.

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Cryptocurrency Market Update: Ripple puts altcoins in the spotlight as NEO and Dash catch the pace - FXStreet

One of the UKs main financial industry regulators is looking to better understand cryptocurrency.

According to a job listing posted earlier today, the UKs Financial Conduct Authority (FCA), the independent agency that oversees and regulates financial product offerings in the country, wants to hire a cryptocurrency expert.

[Read: UK regulator wants crypto-derivatives ban to protect ill-suited investors]

More specifically, the FCA is looking for someone whos experienced in working with crypto-assets, distributed ledgers, blockchains, and emerging fintech products.

Throughout the listing, there is a particular emphasis on compliance, crime, and 5MLD (EUs 5th Money Laundering Directive).

You will enjoy a unique view of the financial services industry, law enforcement partners and UK government with the opportunity to do meaningful work that makes a real difference in protecting consumers, our firms, and UK financial services industry against financial crime harm.

On that theme, the FCA expects the right candidate to also have good working knowledge of specific legislation, including: Financial Services and Markets Act, Regulation of Investigatory Powers, and General Data Protection Regulations.

It goes as no surprise that the main responsibility for the candidate is to act as an internal expert on all things related to cryptocurrency, and its possible regulation.

The successful candidate will be responsible for providing intelligence support and advice to other parts of the FCA that are tasked with regulating the sector.

In other words, it sounds like the FCA is looking for someone to conduct due diligence on institutional cryptocurrency and blockchain-based financial products. Ones that may, in the future, be offered to investors.

Given the prevalence of cryptocurrency in recent years, and the vast number of scams, its about time that the FCA stepped up its game in monitoring the sector.

Daniel Williams, a UK-based Independent Financial Advisor at Morgan Williams & Co, told Hard Fork this is a positive step forward for the FCA.

The FCA has tried to modernize its thinking over the past few years, its their duty to try to keep up with new assets and technologies, he added.

Indeed, the move to hire a dedicated cryptocurrency expert shows the FCA believes cryptocurrencies are here to stay.

Williams is not surprised the FCA is investing time and money to bolster its understanding of digital assets. But it should be noted, this move isnt about readying the world for institutional cryptocurrency investment products, but rather, its about consumer protection, he said.

While the FCA is clearly aware of the dangers posed by cryptocurrencies, more can certainly be done to protect consumers in the UK.

Last year, an FCA found that most Brits dont have a clue about cryptocurrency, but are still willing to invest. In May, the FCA reported that British investors lost a total of 27 million ($34 million) to cryptocurrency scams over the 2018/19 financial year.

In the long run, Williams expects the FCA to use its understanding in cryptocurrency to move into regulating how crypto assets should be held, whether they are suitable for retail investors, and how they should be marketed to the consumer.

Last July, the FCA announced that it would be regulating some cryptocurrencies, and lobbied for a ban on crypto-derivatives to protect ill-suited to retail investors.

With the addition of a cryptocurrency specialist, this could be a sign theres more to come from the FCA.

Hard Fork has contacted the FCA for comment, we will update this article when we hear back.

Published February 6, 2020 10:19 UTC

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UK financial regulator seeks cryptocurrency and blockchain expert - The Next Web

Researchers from the Massachusetts Institute of Technology say theyve developed a new routing scheme that can boost the speed of cryptocurrency transactions by four times.

The Spider routing solution packetizes transfers and increases the throughput of cryptocurrencies by using a multi-path transport protocol in payment channel networks (PCNs). Through packetization, Spider can complete large transfers on low-capacity payment channels. In addition, the researchers claim that the multi-path congestion control protocol ensures balanced utilization of channels and fairness across flows.

The new technology is similar to the packet switching techniques commonly used in internet communications. The solution also uses queue management to alleviate network congestion issues.

In addition, Spider needs less than a quarter of the funds that other solutions, such as the Lightning Network and Raiden Network, require to initiate the transfer.

MIT researchers conclude,

Through extensive simulations, we show that Spider requires less than 25% of the funds needed by state-of-the-art approaches to successfully route over 95% of the transactions on balanced traffic demands, and requires only one on-chain transaction for every 10K transactions routed to achieve full throughput on imbalanced demands.

While cryptocurrency adoption has grown over the years, the delivery of fast payments at scale remains a huge obstacle. Bitcoin can handle 4.6 transactions per second (TPS) while Ethereum can process up to 15 transactions per second. These numbers pale in comparison to Visas 1,700 TPS.

Developers are working to circumvent the issue of scalability by introducing layer-two payment channel networks (PCNs) such as the Lightning Network and Raiden Network. These solutions increase the networks ability to process payments by settling transactions off-chain. However, PCNs come with their own set of challenges.

For instance, they require users to deposit funds in escrow accounts. In the current scheme, the funds of some escrow accounts are exhausted more quickly than others.

According to Rob Matheson of MITs Computer Science and Artificial Intelligence Lab,

Traditional schemes send transactions along the shortest path possible, without being aware of any given users balance or the rate of sending on that account.

This can cause one of the users in the joint account to handle too many transactions and drop to a zero balance, making it unable to route further transactions.

In addition, current PCNs can only send payments in full. If a whale wants to transfer 100 BTC, the PCN will try to find the shortest route to process the payment. If the path cannot support all 100 BTC, it will try to find the next route and so on. The result? The transfer freezes or fails.

The Spider deals with these issues by dividing the transaction into bite-size packets that are dispatched across multiple channels at various rates.

Featured Image: Shutterstock/jamesteohart

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Will MIT Transform Bitcoin (BTC)? New Tech Promises to Dramatically Boost Speed of Cryptocurrency - The Daily Hodl

According to reports US lawmakers and the Department of Justice want to ban end-to-end encryption in the name of protecting the children. This could have implications for cryptocurrency.

The reports are suggesting that Attorney General William Barr has questioned the use of encryption to turn devices into law-free zones.

The primary concern is firms like Apple which have full control over their devices and refuse to provide a backdoor to aid law enforcement in criminal investigations and other matters of national security.

US Senator Lindsey Graham, chair of the Senate Judiciary Committee, is drafting a new bill that could potentially outlaw the use of encryption in the name of protecting children. He has repeatedly called the iPhone a safe haven for criminals.

At the White House Summit on Human Trafficking last week Barr joined those calls with his views on the technology.

We all recognize that encryption is important in the commercial world to protect consumers like us from cybercriminals, but now, were seeing military-grade encryption being marketed on consumer products like cellphones and social media platforms and messaging services, and that means that we cannot get access to this data.

Senior staff lawyer in the Center for Democracy at the American Civil Liberties Union, Brett Max Kaufman, said encryption reliably protects consumers sensitive data. He added that technology providers should continue to make their products as safe as possible and resist pressure from all governments to undermine the security of the tools they offer.

The new draft bill called the Eliminating Abusive and Rampant Neglect of Interactive Technologies Act will modify the Communications Decency Acts Section 230 to make companies liable in state criminal cases and civil lawsuits over child abuse and exploitation.

Many of these suggested best practices such as offering parental controls and setting age limits are acceptable but the bill also requires tech firms to preserve, remove from view, and report and material as well as retain any evidence that may pertain to such cases which effectively turns them into digital crypto cops.

If passed, the law would also require companies such as Telegram to allow backdoor government access to encrypted information. This would also provide a golden key vulnerability for hackers and malicious actors. It may also affect the cryptocurrency industry.

Fundstrats Tom Lee commented on the possible implications to the cryptocurrency industry.

If true, would have some negative impact on crypto and digital assets which are grounded by cryptography

Cryptocurrency does not appear to be the target here and the concerns are largely focused on the likes of Apple which keeps a tight leash on its products, even from its own customers.

Digital finance is a completely different arena to social media and data, especially involving minors, so it is unlikely there will be any great impact on decentralized crypto assets.

Will the new law affect cryptocurrency? Add your thoughts below.

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How Would a US Ban on End to End Encryption Affect Cryptocurrency? - Bitcoinist

Aaron Hetherington, a software developer with JLRs distributed ledger technology team, explains how drivers could receive cryptocurrency for reporting road issues.

Staff at Jaguar Land Rover (JLR) in Shannon are working on more than just manufacturing cars. Onearea of focus is the companys connected services, which are being developed under its Destination Zero project something JLR hopes will lead to zero accidents, zero congestion and zero emissions.

A smart wallet, for example, is something the JLR software engineering team in Shannon is working on. Its purpose is to let drivers earn cryptocurrency credits for sharing information that can help roads become safer and more environmentally friendly.

Aaron Hetherington, a software developer on the distributed ledger technology team, explained that JLRs technology can track when and where a vehicle has hit a pothole, for example, so that details for repair can be sent to local councils in the UK and Ireland.

Of course, theres a little bit of a reward for detecting these potholes, he added. Using cryptocurrency like Iota, were able to pass this reward directly onto our customers.

By enabling their cars to automatically report road condition data such as traffic congestion or potholes to navigation providers or local authorities,drivers will receive cryptocurrency credits that could be used to automatically pay for tolls, parking and electric charging.

Hetherington also told us about his daily work and the kind of skills that are most important for a job on JLRs distributed ledger technology team.

There is no typical day for me, he said. We start with a daily stand-up. Work cycles are divided into two-week sprints, but inside that sprint I could do anything, from a documentation task of creating some documentation and some design docs to code reviews to encoding. Everything is different every day.

We need to obviously be able to break down larger problems into smaller, more manageable problems, Hetherington added, noting that coding and a small bit of cryptography are the main skills that are needed.

And his favourite thing about working at JLR? I work with a lot of people from diverse backgrounds [there are] a lot of things to learn from these people, he said. Theres a lot of cool and interesting projects happening here Shannon.

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How Jaguar Land Rover is making tracks in cryptocurrency rewards - Siliconrepublic.com

Two major venture capitalsSamsung Venture Investment Corp (SVIC) and Salesforce Ventures (SV)have backed Digital Asset, creator of the smart contract language DAML, in the second closing of its Series C funding round.

The two prominent VCs led the second round of financing, pledging an undisclosed amount of capital. SVICthe investment arm of tech conglomerate, Samsung typically invests in future centric business models, boasting a current $2.2 billion under management.

"We strongly believe that Digital Asset's model to embed DAML in partner platforms fundamentally changes the entire blockchain market," said an SVIC spokesperson.

Samsung's home in San Jose, California. Image: Shutterstock.

According to a Digital Asset press release, the funds will be used to "enhance the DAML developer experience" and further the adoption of the DAML smart contract language across a range of industries.

In its first funding round back in December, the blockchain startup managed to net $35 million. The initial Series C round observed investments from such finance monoliths as Goldman Sachs, Citigroup, JP Morgan, as well as Jefferson River Capital and the Australian Securities Exchange (ASX).

Get early access to our app to earn Decrypt Token, redeemable prizes and much more.

Beyond another successful funding round, the firm highlights the addition of Susan Hausera 28-year Microsoft veteran and advisor to Digital Assetto the company's board of directors.

"During my time as an advisor to Digital Asset, I quickly learned how transformative smart contracts could be for a variety of use cases and across industries. We are going to see adoption of smart contractsand languages like DAMLtake off in the near future," noted Hauser.

Digital Asset tasks itself with instilling the DAML smart contract technology into its partner's product offerings. Since being founded back in 2014, The firm has partnered with a variety of high-level businesses, including alliances with Hyperledger Sawtooth, Hyperledger Fabric, Corda, and Amazon's QLDB.

With a fresh bout of funding, Digital Asset's goal of generating critical mass for smart contract language may soon come to fruition.

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Samsung and Salesforce invest in cryptocurrency company - Decrypt

More than one-third of U.S. SMEs accepts cryptocurrency as payment for goods and services. Thats great for crypto adoption but doesnt come without a cost.

Last month, Bitcoinist reported that more than one-third (36%) of U.S. small and medium-sized businesses now accept crypto payments. A further 59% of those businesses also buy digital currency for their own use.

Thats pretty huge when you consider crypto adoption. With around 30 million registered SMEs in the U.S., more than 10 million companies are transacting in crypto to some degree in the United States alone.

However, while its good news for the cryptocurrency industry, according to HSB, part of the reinsurance giant Munich Re, it represents a major cybersecurity risk.

Vice president of HSB Timothy Zeilman cited the benefits to SMEs for using accepting cryptocurrency payments. He noted that they could reduce companies processing fees and allow for faster payments. However, theyre likely to face a bigger problem in terms of cybersecurity.

The rise of crypto adoption unfortunately also spurns the rise of crypto crime. This leaves SMEs at an increased risk of computer attacks and cyber fraud. Zeilman said:

Cyber criminals follow the money and fraud can be a serious problem A number of currency exchanges have been hacked or embezzled and millions of dollars were lost. Smaller businesses, especially those starting out, cant afford to be cheated.

One of the most popular ways of infecting companies systems is by spreading malicious code through phishing emails. Smaller businesses are at greater risk since they tend to have fewer resources and are easier targets for hackers looking to divert computing power to verify and record cryptocurrency transactions.

HSB further notes that since the majority of cryptocurrency exchanges operate with little regulation, an SME owner may have no one to turn to in the event that fraud occurs, unlike when using the traditional banking system.

As with retail users when it comes to crypto adoption, education is key. SMEs looking to accept cryptocurrency payments should take the time to understand the risks and seek robust solutions to ensure their online safety. According to Zeilman:

Small business owners should learn all they can about the technology before accepting cryptocurrency And make sure they have strong data security and insurance to protect against cyber fraud and financial loss.

Do you agree that increased crypto adoption poses a higher cybersecurity risk to SMEs?

Images via Shutterstock

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Rising Crypto Adoption in SMEs Is a Growing Cyber Threat - Bitcoinist