Decentralization and blockchain are two words that many purists believe must be put together to be the future of financial technology. Reporting on a study developed by UK based company CoinShares, as much as 66% of global hash rates come from and are controlled by Chinese entities. Mining is a crucial element in distributed … Continue reading UK Research Shows 66% Control of Hash Rate is Coming From China
The Algorand Foundation of Singapore has signed a collaboration agreement with Fondazione Ugo Bordoni (FUB) aimed at testing and advancing the groundbreaking open-source technology developed by its founder Silvio Micali.According to a blog post by Algorand Foundation on Dec. 16, the partnership agreement was signed between the Fondazione Ugo Bordoni, an in-house entity of the … Continue reading Algorand Partners with Italian Economic Ministry to Advance Blockchain Initiatives
Many perceive online casinos and gambling as inherently unfair and many studies and surveys have shown that players believe the betting sites to be completely rigged. The motto ‘the house always wins’ is commonly seen written on gambling site threads and to some extent it’s true—casinos make their money because users lose more than they … Continue reading MintDice—Rolling the Dice on Trust
Authorities in Sichuan, China has been reportedly pressuring Bitcoin miners to scale down their operations due to electricity shortages. During the dry season, extending from October to April, the electricity supply drops in the province. China has been reported to have been controlling two-thirds of the global Bitcoin hashrate, while Sichuan has been accounted for over … Continue reading Chinese Authorities Pressure Bitcoin Miners to Scale Down Operations
On the second day of the Asian Financial Forum (AFF), Prof Abhijit Vinayak Banerjee, the winner of the Nobel Prize in Economic Sciences will deliver a keynote speech on financial inclusion. Banerjee won the esteemed prize along with fellow MIT economist and spouse Esther Duflo and Harvard Academic, Michael Kremer. What is Financial Inclusion? Financial … Continue reading Nobel Laureate Prof Banerjee – Applying RCT to Financial Inclusion
We went along to the Asian Financial Forum (AFF) on Day Two to hear what Nobel Prize-Winning Economist Prof. Abhijit Banerjee would say in his keynote speech on financial inclusion. Insightful as it was, it mainly covered his application of randomized control trialing in inclusive finance and the insights he and his colleagues had gained … Continue reading Nobel Prize Winning Economist Abhijit Banerjee: Is Blockchain the Key to Financial Inclusion?
Being able to track information ‘has always been the taxman’s dream’– Pascal Saint-Amans, OECD Governments around the world are seeking new sources of revenue, and value-added tax (VAT) is the key revenue driver and the largest contribution to governmental budgets. Each year billions of dollars are lost in tax revenue due to non-compliance, evasion, fraud, and non-collection. … Continue reading Blockchain: Emergence of a New Breed of Tax Professionals in the Digital VAT World
The Roman Empire was one of the greatest successes of human civilization. For most of its 1,000-years plus existence, Rome conquered and expanded across vast swathes of Europe, Asia, and North Africa, creating cultural, architectural, and societal imprints that last to the present day. But such empire, mighty as it was, entered into a decline … Continue reading Creating Corruption-Free Ecosystems with Blockchain: A Study
In a move widely celebrated by fans, the Juventus Football club of Italy enters into a license agreement with a blockchain-based fantasy football company, Sorare. The newly signed agreement as reported by the Cryptonomist on Feb. 20, will see the Italian giant football club offer rare digital collectibles cards of the club’s most iconic superstars … Continue reading Italian Soccer Giant Juventus Embraces Blockchain Technology
Business magnate, CEO and Chairman of Berkshire Hathaway, Warren Buffett on Monday, Feb. 24, confirmed his resentment for cryptocurrency. Buffett known for his long term continuous lack of support to cryptocurrency stated, “Cryptocurrencies basically have no value and they don’t produce anything,” he told CNBC’s Becky Quick in a Squawk Box interview. “In terms of … Continue reading Warren Buffett: Cryptocurrencies Do Not Have Any Value And I Will Never Own Any