THE SECOND LARGEST BANK IN SOUTH KOREA CREATES SECURE CRYPTO-CURRENCY WALLETS

In South Korea, there was an extremely important event for crypto currency in this country: Shinhan Bank, the second-largest local bank, announced that it is developing crypto-currency wallets, where users can safely store their digital assets. The information is taken from the Cointelegraph website .

SERVICE FOR STORING CRYPTO CURRENCY FROM A LARGE KOREAN BANK

The news came on the background of the recent fall of Bithumb servers in November and the July leak of personal data of 30,000 users. The representative of the bank said that the new service will have increased protection, comparing with third-party solutions. The organization will offer the transfer of money without commission, but it will still be charged for withdrawal.

Here is a quote from the bank statement:

This is a service that stores lock-keys with a virtual safe from the bank. We are looking for ways to provide free deposits and withdrawing commissions when withdrawing funds.

The announcement became another factor contributing to a significant increase in the institutional acceptance of the crypto currency. More recently, there have been announcements of bitcoin futures from theChicago Mercatile Exchange and a huge number of new hedge bitcoins. 

THE FIRST EXCHANGE OF BTC-LTC VIA THE LIGHTNING NETWORK TOOK PLACE

The first ever "atomic" exchange between Bitcoin and Litecoin has successfully taken place, Cointelegraph reports . The special importance of this translation is that it was conducted outside the detachment. This means that the ownership of koinas passed from hand to hand, but none of the banks involved the transaction was not recorded.

Here's what the founder of Litecoin, Charlie Lee, said about it:

The previous nuclear exchanges that I conducted were done on the phone and were subject to the appropriate restrictions - slow [transactions] and a high commission for the transfer. Offechanovye atomic exchanges are much better. They are instant, [have] a low commission and are better kept confidential.

ADVANTAGES OF ATOMIC SWAPS

The system will allow users who wish to have a connection between the junctions, send crypto-currencies without having to wait for confirmation on the block, and even with a much smaller commission. This connection will allow you to make incredibly fast transactions in Bitcoin-network, and it is a simple, but at the same time elegant solution to the discussion about extensibility.

Another significant advantage is that such transactions are completely anonymous. Since they leave no trace on any of the cells, being thus completed, they can not be traced in any form. This kind of confidentiality is what is being tried with ZK on Ethereum.

Cointelegraph asked Konstantin Gladich, CEO of Changelly, to share his opinion on the new technology:

Changelly is a decentralized exchange that processes voluminous transactions at the most favorable rates on the market. We are burning with the idea of ​​"atomic" off-exchange exchanges, as this is a new stage of evolution, providing off-exchange p2p deals without risks. However, for the time being this can not completely displace the existing ecosystem.

WORLD'S LARGEST ATM MANUFACTURERS ANNOUNCED SUPPORT FOR BITCOIN

Buy bitcoins is becoming easier - traders of all varieties are implementing crypto currency support, according to news.bitcoin.com. Just a few days ago Square announced that they would add the opportunity to purchase BTC using their application. Now the company has entered the game Hyosung, promising support Bitcoin. Soon, ATM users of the company will be able to buy Bitcoin by clicking on a few buttons.

BITCOIN ON REQUEST

In Hyosung announced the support of bitcoin-transactions with the help of Just Cash . When activated, the ATM will work much like a normal transaction. The digital currency will be sent to the recipient's purse after scanning the QR code. So far, only Bitcoin is planned to be added, but in due course, other crypto-currencies may appear.

Hyosung is one of the largest industrial companies in South Korea with 25,000 employees and an income of $ 17 billion for the year 2015. The production of ATMs is only a small part of the operations.

TODAY KOREA, TOMORROW THE WHOLE WORLD

Many have already become accustomed to the fact that in South Korea they like everything connected with bitcoins. However, the affairs of Hyosung are not limited to their native lands. The company operates around the world - so, in the United States alone there is a large number of their ATMs. With banks, partnership is not, so ATMs can be found in night shops and gas stations.

ADVANTAGES OF ATMS

In the announcement of Bitcoin integration into its ATMs Hyosung advertised a number of advantages that should play into the hands of traders. There is a simple implementation, no need for hardware, a new flow of profit and the ability to attract both new and repeat customers.

All this will take place in the form of software updates, so compatibility should not cause any problems. It is characteristic that users seem to have the opportunity to exchange cash for cash, although it is not yet clear how this will work.

It is also unclear what the commission and the exchange rate will be for the purchase of bitcoins in the updated Hyosung ATMs. Usually this method is more expensive if compared with other methods of buying crypto currency (for example, on the exchange).

On the other hand, many people will find bitcoin-ATMs almost ideal solutions because of the typical problems with procedures know-your-customer (translate from English "know your customer").

ING CREATES A BLOCK-BASED SOLUTION THAT SHOULD PROVOKE INTEREST IN WALLSTREET

ING , a financial group from the Netherlands, announced the creation of a new concept of anonymous evidence called "Zero-knowledge range proof" (abbr. ZKRP). As the Cointelegraph reports , the idea should please the financiers from Wall Street, as the risks associated with security and confidentiality scared many people away from the market of block-technology.

THE KEY TO EVERYTHING IS ANONYMITY

The new proof is created in such a way as to keep anonymity, while at the same time confirming the correctness of the transaction. The manager of the blockade at ING, Mariana Gomez de la Villa, stated the following:

It is proved that the ZKRP solution from ING is 10 times more efficient than the other concepts in the Ethereum test network. At the same time, all three principles are met: completeness, validity and evidence without information transfer.

In traditional financial systems, the transaction confirmation process requires a lot of information about the parties involved. However, in systems with proof of zero knowledge, in addition to simple verification, no additional data is required. This makes the transaction completely anonymous and, at the same time, confirmed, which is critical for a massive financial spread.

For some time it was obvious that the largest financial institutions are starting to look closely at the block-technology for domestic transfers. Considering the fact that block projects are being developed in such companies as MasterCard, American Express, Bank of America and Nasdaq, the technology is waiting for a very significant future.

SWISSBANK INTENDS TO INTRODUCE BITCOIN FUTURES TO ALLOW RATES AGAINST THE CRYPTO-CURRENCY

Representatives of the Swiss bank Vontobel reported that on Friday their institution will start trading the first in Switzerland a pair of mini futures in order to "short" bitcoins, reports Reuters. This will provide investors with a tool for betting against the cost of volatile crypto currency or hedging of bitcoins.

NEED MORE BITCOIN FUTURES!

The news about the creation of two mini-futures on the Swiss stock exchange was the second largest provider of structured products in the country, following the announcement of CME Group Inc : the world's largest operator for the exchange of derivatives in the world told of plans to launch a futures contract for Bitcoin later this year.

Mini-futures are derivatives that combine the functions of futures and options. At the same time, they are quoted at a much lower cost than traditional futures contracts.

When Bitcoin's price falls by 10%, the value of the more conservative of the two mini futures rises by almost 6%, while the second increment will be almost 10%, according to a document on the terms of contracts published by Vintobel on Tuesday.

This month, the cost of BTC changed incredibly: last week it fell by 29% from a record high of $ 7.888, set on November 8. Over the past four days, the Crypto currency has recovered more than a third of its price.

Over this year, Bitcoin has risen by more than 600% - this rapid growth has pushed many people into thinking that the digital currency has become a bubble that may burst in the future.

WALLSTREET FEARS THAT BITCOIN FUTURES "DESTABILIZE THE REAL ECONOMY"

Wall Street is not too happy about the fact that this year before Christmas will have to open the market of crypto-currency futures. A number of high-profile names from this sphere express their concerns aloud, news.bitcoin.com reports . Their rhetoric makes it clear that Bitcoin and others are not very happy in such a society.
WALL STREET ASKS THE REGULATOR TO SEPARATE THE CRYPTO-CURRENCIES

The purpose of the letter is to ask the Commission on Futures Exchange Commission [CFTC] to set the following requirement: each clearing house wishing to work with any crypto currency or derivative financial instrument will have to do it in a separate clearing system, isolated from other products," wrote Chairman of Interactive Brokers (IB) Thomas Pieterfy.

IB is one of the leading suppliers of derivative financial instruments and services for brokered clearing on Wall Street. The letter was published on November 14, 2017 in the Wall Street Journal as an advertisement.

As reported in a variety of sources, Chicago Merc plans to release bitcoin futures in the last weeks of this year. Among the supporters of Bitcoin, the news was adopted with cautious optimism, but, apparently, in the traditional industry, not everyone would like to see such a financial future.

The open letter, which took up the whole page of the ad slot, referred to the chairman of the CFTC, J. Christopher Giancarlo. It warned about the fact that the fate of capital markets is at stake. Mr. Peterfi has called for the isolation of bitcoin futures, so as not to risk the possibility of "destabilizing the real economy".
CRYPTO-CURRENCIES ARE QUITE "NOT RIPE" YET
The letter also says the following: if CME "will clear the crypto currency with other products, a large price movement of the crypto currency destabilizing the participants clearing the crypto currency will destabilize the clearinghouse itself and its ability to fulfill its basic obligation to pay the winners and collect money from the losers for other products in the same clearing pool. "

The crypto currency has no mature, regulated and tested base market," continues to criticize Peterfy. "Products and their markets have existed for less than 10 years and have very little (if any) attitudes to any economic conditions or realities in the world.

Undoubtedly, here the tycoon of derivative instruments refers to the movement "up, down and quickly again up", characteristic of the Bitcoin price. For many current financiers, such volatility violates almost all historical precedents, not to mention technology or other disputes around the crypto currency.

This resonant advertising campaign is the second one for Mr. Peterfi. In 2012, he spent millions on television advertising during the presidential election. Then he lamented over what seemed to him the growth of socialist sentiments and said what now seems ironic:

America is rich thanks to the efforts of people who are hungry for success. Take away their incentive by untruthful criticism, and you take away the wealth that helps us take care of the poor. 

MasterCard patented the blockchain database for payment processing

MasterCard has been engaged in blockchain related projects, and very actively apply for a patent. The latest blockchain patent application submitted by the credit card giant is a database that instantly processes payments, ensuring merchants receive product payments as quickly as possible. MasterCard explained in the application documents the importance of this solution, hoping to use blockchain technology to improve inter-company payment and transactions.

A new patent application recently submitted by MasterCard shows that the company considers blockchain as a possible means of reducing payment settlement time.

In a patent application released by the U.S. Patent and Trademark Office last week, the company described a blockchain-based database that could process payments immediately to ensure merchants do not have to wait a few days to receive payment for their products .

In addition, these documents state that the technology will help the company keep a record of these transactions, proving that the vendor actually received the payment after the product was sold.

The data stored in this database will include the transaction amount, payment guarantee, payment confirmation, and account information of the parties involved. According to the application documents revealed that these account information will also store the balance of each user information.

The document explains in detail:

"We needed a technology solution that would ensure payment transactions are conducted in a way that is easily verifiable by financial institutions and / or merchants and that they are guaranteed to be available for many types of payment instruments and types of transactions, including e-commerce transactions. "

MasterCard has repeatedly considered the use of blockchain platforms to facilitate payment. Last month, the company announced it was creating access to blockchain tools it is developing to facilitate inter-firm transactions.

Its patent application, which was released in September, also focused on using the blockchain to store payment history.

THE MARKET OF BITCOIN FUTURES CME CAN BENEFIT THE "BEARS"

One of the reasons for the success of people who made only long-term investments in the bitcoin market is the lack of an effective way to sell large amounts of bitcoins for a period without coverage (ie "short-sail" or "short"). One of the authors of the Cointelegraph website believes that within a month all this can change if CME realizes its idea of ​​bitcoin futures.

BTC FUTURES CME

Bitcoin's price went up when the CME announced the release of bitcoin futures, scheduled for December 2017. It was expected that these financial instruments will make the class of assets legal. The latter, in turn, should have led to an influx of institutional investors into the Bitcoin market. In case of approval of bitcoin futures by CTFC, the US Securities and Exchange Commission would be difficult to block the traded index bitcoins (also known as Bitcoin ETFs), because there would be a regulated asset in the basis.

However, it is not a fact that investors would have caught the most important thing. The appearance of bitcoin futures would provide "bears" (traders expecting a drop in asset prices) a way to "short" huge amounts of bitcoins. Today, such luxury is not too accessible to them.

Terry Duffy, chairman and CEO of CME, in a conversation with CNBC said:

Today you can not" short "Bitcoin. Therefore, there is only one way of dealing: you either buy or sell [crypto currency] to others. Thanks to this, a two-sided market is being created, and I think this is always much more effective.

MARGINAL TRADING ON STOCK EXCHANGES

Technically, today you can "shorten" Bitcoin on existing exchanges with the help of margin trading. However, there is not enough liquidity and volumes, if we talk about large investors. Banks such as Bitfinex allow one user to borrow digital tokens and sell them, provided that others agree to lend the assets to the marginal trader.

But there are quite a few such exchanges - most offer only ordinary sales and purchases, which is beneficial to traditional long-term investors. In addition, many exchanges (the same Bitfinex, for example) do not allow US citizens to conduct margin trading on their platform. Regulated same futures - it's quite another matter, since such transactions are supported by cash, so short-sellers do not have to take bitcoins in debt.

"BEARS," BEWARE!

Bitcoin futures are able to provide skeptics a way to "short" the crypto currency, but this does not mean that such a trading strategy will be successful. Given the high volatility of Bitcoin and the propensity for sudden take-offs, futures can easily become a "bear trap" instead of making the players "teeth" drop sharper. Even Jamie Dimon, who called Bitcoin a deception and a bubble, said that he would not "short" him. Here is a quote from his conversation with CNBC in September 2017:

I'm not saying that you have to shorten. Bitcoin can reach up to $ 100,000 before it starts to fall. This is clearly not what people should be advised.

So beware, "bears". If there is something more complex than defining a "bubble", then this is clearly a calculation of the time when it bursts.

A BitcoinGold Scam - Stay aware and away

Hello Dear,
I found a website that are trying to sell Bitcoingold which is fake. The first look of website is as same as the look of Bitcoingold.org
Here is the link of that website: http://get.bictoingold.com/
Please share it with others as much as possible. Because it helps all users to stay away from this scam.

Our distribution is 1BTC:50BTG, i.e. for each Bitcoin (BTC) that you have, you are able to get 50 Bitcoin Gold (BTG). Important: To Get Bitcoin Gold you need to use wallets that provide private keys or seed, such as Electrum, Mycelium, Ledger, Trezor, blockchain.info etc. If your Bitcoins are in exchanges like Coinbase, Poloniex, Bittrex and others, you CAN'T claim Bitcoin Gold. If this is your case, move your Bitcoins to a wallet.

But the original website declares that:

The Bitcoin Gold (BTG) initial coin distribution method is almost exactly the same as that used by the Bitcoin Cash fork of August 1. Everyone who held Bitcoin when block 491406 was mined will automatically receive Bitcoin Gold at the rate of 1 BTC=1 BTG. (If you had 20 BTC at the time of the fork, you will receive 20 BTG.)

Blockchain technology is in the field of education 10 world-class universities have set up blockchain courses

Blockchain Technology is one of the fastest growing industries in the world. The purpose of blockchain technology is to increase the efficiency of other industries - from music and energy to the financial sector, etc. Blockchain technology will also reduce the costs in these areas.

As society's demand for blockchain technology continues to grow, so do students' demands for educational opportunities. The company paid large sums of money to train qualified blockchain industry professionals and currently blockchain is one of the best in the industry. This article is about 10 universities offering blockchain classes.

Cornell UniversityCornell University is one of the leading computer-centric universities and its blockchain classes are worth learning by learners. Emin Gun Sirer, who has been a leader in blockchain technology for many years, is an orthodox blockchain course.

Cambridge UniversityCambridge is one of the best universities in the world and has many opportunities both on campus and in the future. Cambridge University focuses primarily on economics in the area of ​​blockchain courses.

Princeton UniversityPrinceton, one of the most prestigious universities in the United States, has pioneered a course called Bitcoin and Encrypted Digital Currency Technology. The course is actually online, answering many questions about bitcoin and foreseeing the future of bitcoin.

University of Nicosia, CyprusThe University is the largest university in Cyprus and its blockchain courses are mainly those related to the introduction of digital currency. This course is freely available on the web and is a publicly registered MOOC course.

Stanford UniversitySurprisingly, Stanford University introduced a unique course called "Bitcoin Engineering." The main purpose of this course is to guide students to create their own bitcoin application that is more computerized.

British B9 Laboratory CollegeThe B9 Lab Academy is devoted to understanding and developing more technologies behind bitcoin and blockchain technology and analyzing its social impact.

University of Copenhagen, DenmarkRobin Baldwin, an educator, writes: "Denmark has always been the leader in technology and the university is the best choice where you can understand the blockchain technology development."

New York UniversityIn 2014, New York University opened a blockchain course titled "The Law and Business of Bitcoin and Other cryptocurrencies," which was originally opened The course is still being taught at present.

Duke UniversityUndoubtedly, Duke University, one of the leading universities in the United States, will start a blockchain course. Its main course, entitled Innovation, Subversion and Password Investment, provides an in-depth discussion of the future of bitcoin and blockchain technology.

Massachusetts Institute of TechnologyAs a leading university, MIT is involved in a wide range of technologies. Of course, it also offers a blockchain technology course. MIT is one of the first universities to offer blockchain technology-related courses and is the defender of the current Bitcoin agreement.

CHINA WILL TURN OFF BITCOIN-MINERS CHEAP ELECTRICITY

It seems that the Chinese government does not intend to abandon its anti-crypto currency position: the Cointelegraph website shares with local media reports that the cheap hydroelectric power used by the largest Bitcoin farms of the Middle Kingdom may soon go into oblivion.

The statement on stopping the supply of cheap electricity for mining refers to the fact that Sichuan Electric Power Company issued a circular with a notice that it will no longer provide the necessary energy from its connected hydroelectric power stations. The document also allegedly calls the mining of the bitcoins "an illegal operation." So far, the data on the circular has not been fully confirmed.
THE GOVERNMENT CONTINUES TO PRESS

The statement from the energy companies does not reflect the general mood among the miners, according to the article of local media . They believe that for crypto-currency operations, "unnecessary water" is used, that is, water that flows without generating electricity. Therefore, the price was so low.

And yet, the power cutoff goes on two fronts: the province not only stated that "there will be no new power stations," but it also buys existing ones. Here's what you can read in the article:

On the one hand, Sichuan Province issued a circular at the political level, banning the emergence of new small hydroelectric power stations; [At the same time,] the energy company is moving towards acquiring such stations to promote its own power grid. This greatly reduces the amount of cheap electric energy for Bitcoin.

Such a change would well correspond to the attempts of the Chinese government to penetrate all spheres of the crypto currency.

Since the veracity of the story has not yet been confirmed, we advise interested readers to follow the further development of events.

United Nations agencies turned to enabling blockchain to combat child trafficking

The United Nations has partnered with the World Identity Network (WIN) to conduct blockchain certification pilots aimed at deterring child trafficking.
On Friday, the humanitarian blockchain summit held in New York announced the news and said that UNOPS and the UN Office of Information and Communications Technology (UN-OICT) will also participate in the pilot project .
The statement released said that if the digital identity is stored in the blockchain, "the chances of seizing the traffickers will be greatly increased." In addition, storing identity data in a tamper-proof block chain will make child trafficking more "traceable and preventative".
According to Dr. Mariana Dahan, co-founder and CEO of WIN, children under the age of five who are "unknown" and do not have a birth certificate are at risk of falling into the hands of traffickers. These children are often missed by social programs provided by the government or development agencies.
She added: "Some developing countries are actively looking for more effective ways to stop the trafficking of children, and identification has always been at the heart of the solution."
Traffickers use fake ID documents to transport adolescents across borders who are eventually forced to engage in serious illicit activities, including sexual transactions and illegal human organ transactions.
Yannick Glemarec, deputy executive director of the UN Women's Organization, said: "Child trafficking is one of the biggest violations of human rights."
She went on to say that the blockchain was a "potentially powerful" technology that could be used to solve the problem and potentially save "millions of children."

Should Overstock be transformed into a blockchain company?

Taken From Cointelegraph

Overstock is an online retailer with blockchain investments, but the market sees it as a blockchain. Should Overstock now shift its focus to blockchain business?

Loss, but stock prices
Overstock did a great job in 2017. Shares rose from $ 17.70 at the beginning of the year to $ 53.15 at the close of November 10, or 200%. After the company reported a pretax loss of $ 6.5 million in the third quarter of 2017, its share price soared 30% on Thursday. The bottom line seems to have nothing to do with the market valuation of Overstock. This optimism stems from the belief that Overstock will eventually be rewarded for its investment in blockchain technology.Overstock's ICO program also seems to have stimulated the market.

Should Overstock shift the focus to the blockchain?
In terms of valuations, the stock market seems to have neglected Overstock's core business of selling household goods and apparel. The whole point seems to be the ICO and investment in the blockchain area. The market seems to be really pleased that Overstock has changed its home electronics business. DA Davidson analyst Tom Forte raised his price target for Overstock from $ 57 to $ 85. In the client's report, Tom Forte wrote:

We now see the potential to unlock value in its two most important assets, home-e-commerce and Medici Ventures, a portfolio of nine companies that leverage the blockchain to varying degrees.

Unpredictable market
Although the main goal of corporate management is to raise shareholder value (and increase market value), they should remember that the market is a fickle animal. Earlier this month, a company rose 400% after it changed its name from On-line Plc to On-line Blockchain Plc.Therefore, changing a company's strategy based on the latest fashion may not be a good way to drive shareholder value over the long term. Although Overstock may transform itself into a blockchain company, this should not be why the blockchain company is highly valued by the market.

Amazon started from the bookstore
While the idea of ​​Overstock, the online retailer of homeware and apparel, shifting its core business looks radical, there is no precedent. Founded in 1994, Amazon started as an online bookstore but has now surpassed its conviction. It earned about $ 16 billion in sales of cloud computing services alone. Nokia, the main seller of cell phones in 2000, was a pulp mill founded in 1865. Many companies are changing themselves with the times. If Overstock does shift its focus to blockchain business and succeed, then few should remember that it was initially an online retailer.

IN "THE BIG BANG THEORY" THERE WILL BE A WHOLE EPISODE ABOUT BITCOIN

As the site Cryptocoinsnews , "The Big Bang Theory" will devote a whole episode of Bitcoin crypto currency. This sitcom is one of the most popular in the world - the series of 11 seasons on average looked 17 million spectators.

BITCOIN ON TV

9 episode 11 of the season will be shown on November 30, 2017; it will be called "Confusion with Bitcoin" (English "The Bitcoin Entanglement"). Analysts believe that the show will introduce a wider audience to the crypto currency. The show is most often watched by spectators aged between 19 and 35 - a relatively "young" figure for the popular sitcom.

Over the past 12 months, the crypto currency has appeared in several popular TV series, including "Mr. Robot". Thanks to this, people who had never heard anything about him knew about Bitcoin. Therefore, coverage in television series with a huge audience is extremely important for the spread of BTC and other virtual currencies, and also making them a reliable means of preserving value in subsequent years.

THE BIG BANG THEORY AND CHINA

In 2014, the Chinese government took to the top Western television series and video hosting. Among others, the "Big Bang Theory" came under the ban - the reasons were never explained.

In mid-2015, the series returned to the Chinese screens with the help of Sohu, one of the country's most popular video platforms. However, it was noted that the PRC government requires sending them entire seasons before they can be shown to people.

Since the Celestial Empire recently banned the trade in crypto-currencies, it remains unclear whether this episode falls under the press censorship.

FORBES: BUILDING BLOCKCHAIN MAY REVOLUTIONIZE THE HIRING INDUSTRY

Walkout commentary: As people deepen understanding of the blockchain, more and more people realize that the role of the technology is far more than limited to the financial sector. For example, hiring is also a department where it can play a role to improve. The technology's powerful verification capabilities help employers verify candidate identities and information, potentially saving them time and money on hiring, benefiting both employers and candidates.

Another transformative new application of blockchain technology may have a wide range of implications on the way employers evaluate candidates and recruit staff.

Blockchain is essentially a way to record information on distributed, encrypted books - eliminating the trust or middleman's role for third parties in many applications. Today, it is known as the breakthrough technology behind virtual currency bitcoin. But it actually affects any industry that records, stores, and trades deals.

This week, APPII introduced the "World's First Blockchain Proofing Platform" - using a blockchain feature to build a "de-trust" system that enables employers to understand whether the information given by the candidates in front of them is real.

Gary McKay, general manager of APPII, encountered the blockchain for the first time in the financial services industry and soon came to a conclusion that the impact of this technology went far beyond his area.

McKay said:

I think this can be used in any brokerage industry that needs to trust to exchange the value of both, so real estate or the hiring industry is possible, for example, as a candidate exchange between the candidate's finder and the employer.

The APPII platform allows candidates to create "smart files" - to record the details of a professional achievement or educational certification on a distributed ledger, which can be verified and saved permanently.

The platform then allows organizations such as businesses or educational institutions to verify the "statements" in the candidate's application. When the statement is confirmed, records can be made on the candidate's file and there is no need to check again.

It also uses face recognition technology to validate the identity of candidates, asking them to take pictures using mobile applications and compare them with photos on official IDs such as passports.

McKay said:

In high-risk industries employers have to do due diligence and if you're going to invest your money in the financial services industry to invest, you certainly do not want that person to get the job through resume fraud. The same is true for nurses.

In the public sector and in the financial services industry, it typically takes four to six weeks to review identity and resume information, so simplifying this process clearly has significant benefits.The system also has a clear purpose in the increasingly global job market. Candidates now have the opportunity to search for jobs elsewhere online with information from others. This will also save costs for IT and other fields as some professionals sign new contracts three to four times a year.

Technojobs users now have access to this system to meet the search for candidates for IT and technology jobs.

McKay emphasizes that this platform not only benefits employers but also benefits candidates - ensuring that employers evaluate them based on their merits rather than their resume style or template. Of course, this also provides a fair competitive environment for one-third of the honest people and exposes the other two-thirds who exaggerate or fictitiously.

McKay said:

This makes candidates more likely to be hired because they can use the blockchain to validate their careers and gain people's trust, which benefits employers by reducing the time and cost of finding talent.

Technojobs director Anthony Sherick said:

From an employer's point of view, they often have to spend a lot of time hiring someone and may fail - which is a waste of time because they typically check the certificate at the end of the hiring process. With this new approach, Save a lot of time and cost, they are also assured of the authenticity and quality of the information.

The company plans to perfect its service next year, including rewarding employers and candidates. They send the token to the organization that validates the statement, as well as the candidate submitting their resume for verification. According to the plan, these tokens will be used to redeem classes and education.

It is naturally exciting to see the blockchain getting applied in this innovative way and realizing what we could not do before. The concept of distributed cryptography has a significant impact in the financial arena - many believe it can replace many of the bank's traditional functions. But beyond that, I believe it can be used effectively and innovatively in any function that involves recording, verifying and tracking data.

GERMANY'S TOP FINANCIAL REGULATOR BAFIN WARNS OF ICO RISKS

The Federal Office for Financial Supervision (BaFin), Germany's supreme financial regulator, issued a warning to investors, Cointelegraph reports . In it, representatives of the institution went through the risks associated with investing in primary offers of tokens (ICO). Thus, BaFin became the last at the moment the market supervision authority that issued a warning about the sales of tokens.

Among the risks was the possibility of an absolute loss of investment. The agency also warned that the ICO financing model is capable of "attracting scammers" who can present their projects to potential investors in a false light.

Part of the document reads as follows:

"Due to the lack of legal requirements and transparency rules, consumers only have to rely on themselves when it comes to identifying, respecting, and credit rating of the token supplier, as well as evaluating the investment or supply. In addition, we can not guarantee that personal data will be protected in accordance with German standards. "

OTHER PLANS OF BAFIN
Although in this statement BaFin has not established any new requirements or instructions for the organizers of the ICO, the institution announced the forthcoming release of a more complete guide for investors. Hyde should leave on November 15.

The regulator warned consumers about participation in the ICO: such people are advised to make sure of the full understanding of the advantages and risks of investing in the project. They added that the adoption of the necessary measures against the ICO may entail possible losses for investors. However, this concerns only those sales that will prove to be fraudulent.

"Before any consumer decides to participate in the ICO, he should make sure that all the advantages and risks of the project or investment are fully understood."

With Bitcoin's Adolescence Comes Real Competition

With the calling off of the New York Agreement to force the implementation of Segwit2x Bitcoin is now at a fascinating fork in the road(all puns intended). Bitcoin prices are falling as people leave the network and Bitcoin Cash prices are spiking.

I advised my subscribers to hedge 15-25% of their Bitcoin position with Bitcoin Cash at $400 on October 28th. That trade has a current return of over 300% with Bitcoin Cash now trading solidly above $1200.

Even with what now looks like a blow-off, near-term top in Bitcoin prices, Bitcoin investors are still up around $600 per Bitcoin (around 12%) since that day. So, no one should be crying in their beer just yet.

Where Winning Looks Like Losing
But, as Rhett Creighton points out in a very good article at Cointelegraph,com, Bitcoin’s newfound weakness may be structural for more than just a few days worth of healthy, technical correction.

In short, the Bitcoin Core Developer team which won the battle over Segwit2x may have lost the war. Bitcoin needs a transaction-scaling solution. And it needs one quick.

Bitcoin Cash is a real competitor to Bitcoin because it combines big 8MB block and quick settlement times without any of the off-chain or side-chain complications associated with segregated witness (Segwit).

But it does have the drawback of a single core developer. But, I’m a hard-core free-market guy. Competition is what keeps everyone honest.

This is not to say that I’m not a fan of Segwit. I am. But, am I a fan of Segwit on Bitcoin? I don’t know.

In the world of cryptocurrencies I want a reserve asset that sits at the bottom of Exter’s Monetary Pyramid that can be 1) incorruptible and 2) a standard against which all other monetary-like assets, including utility tokens like Ethereum, can be measured.

The Current Monetary System – Exter’s Pyramid with Gold as the Foundation Asset

It’s the function that gold still functions within the global monetary system, despite protestations to the contrary by everyone from central bankers like Ben Bernanke (“I don’t know? Tradition?”) to students of history like Martin Armstrong (a hedge against government incompetence).

Bitcoin has to continue to be that asset for the cryptocurrency and crypto-token community or the community will go adrift, unmoored from the anchor of sequentially-verified transactions from previous blocks.

The Real Battle for Bitcoin

And that’s where I have a bone to pick with Rhett over the following:

I fully expect the market cap of all crypto tokens to increase exponentially over the next few years, but this is not a winner-take-all scenario. Today, mainstream media financial advisors are touting Bitcoin as “the new gold,” but it can’t ever be that. To get a sense of how it’s different, imagine a universe where anyone could create a new kind of metal with essentially the same properties of gold.

Expecting Bitcoin to have the majority market share of Blockchains in the future is about as ridiculous as expecting the East India Company to be more valuable than all other corporations combined today.

Nonsense. The cryptocurrency market languished for four years because there was no compelling reason to back any other coin than Bitcoin in any substantive way. The past is littered with technologically superior coins to Bitcoin and yet Bitcoin is $6000+ and many of them are $0.001.

The market craves those unit of account and store of wealth attributes that real monies have. Just because something has the potential to be that doesn’t mean the market has to pay it any attention. Otherwise Feathercoin or Litecoin would have out-competed Bitcoin three years ago.

Litecoin would have never had to incorporate the Lightning Network to differentiate itself from Bitcoin.
Rhett’s own project, Zcash, wouldn’t have been looking for its niche in the privacy space. But, the use of these coins doesn’t mean that Bitcoin can’t act like digital gold. In fact, with the collapse of Segwit2x and maintaining its high fees and low transaction density Bitcoin has more in common with physical gold than it has ever had previously now that the cryptocurrency market is maturing into one that settles actual trade.

Crypto-Gold Mine
It’s become a bad medium of exchange, just like gold.

If you want to move money around the net Litecoin is far superior as are dozens of other coins. But, if you want the security of the oldest blockchain with the most trust built up over time, then Bitcoin is absolutely where you store your wealth.

Just like Gold.

Bitcoin’s Flaws Become Strengths when viewed as a Foundation Monetary Asset

Do you see the similarities here? Gold is hard to do real business in. Who wants to weigh out 0.1 grams of gold to buy a hamburger (around $4.50)? There’s a real cost to doing transactions using gold as a medium of exchange. It’s a time cost.

Bitcoin now looks exactly like Gold. It’s expensive to own and or move Gold when compared against the dollar just like it is expensive and slow to move Bitcoins when compared with Litecoin or something else.

That makes its flaws strengths as a means by which to interface the ‘real’ world with the ‘crypto’ world. Bitcoin doesn’t need to maintain transaction market share to maintain its relevance. In fact, it losing market share is an expression that it is becoming that foundation asset we need it to be.

What we need is the volatility of the cryptocurrency exchange rates to stabilize. For Litecoin to trade consistently within a 10% band relative to Bitcoin. If we begin to see that volatility of the LTC/BTC pair die down over the next 18 months or so, then remember then you’ll know what is happening.

It will prove the whole cryptocurrency thesis that lack of central control over the issuance of monetary assets will be driven by end-users not central planners.

The dollar price of these coins will continue to rise, but they will do so in concert, in relation to the foundation asset, most likely Bitcoin. Over time, we should see one currency emerge as the standard by which all others are measured.

Bitcoin’s Competition

But, Rhett is right that Bitcoin Cash has the real potential to be the real winner here. Why? Because it is a soft fork of that original Bitcoin blockchain with the added advantages of a it being, for now, an excellent medium of exchange — low fees, short settlement times, no side-chains.

What this means is that Bitcoin Cash can, if its backers and developers stay on mission and are honest, compete with Bitcoin for the role of foundation asset. Litecoin can’t. It made it’s choice by going with side-chain payment processing.

The dark horse in this race is Bitcoin Gold. But, it too has the potential to become the new crypto-gold.

What Does this Look Like?

What we don’t know at this point is what the market wants in terms of cost structure for its reserve asset.

Do we want a very liquid one or a relatively-speaking liquid one like Gold? It’s a good question that I don’t have an answer to today. My guess is an liquid one that can reflect the value of the crypto-markets versus the value of the fiat-markets better by resisting hot money flows because of the high barrier to exchange.

Either Bitcoin or Bitcoin Gold.

But what I do know is that the entire cryptocurrency market just grew up a little and real world growing pains are on the horizon.

I would be hedged accordingly amongst all of the top market-cap coins that the market is right now separating off as serving real market needs. I believe in the division of labor. Each will serve different niches and work to keep the foundation coin developers honest.

There is no one blockchain can rule them all.

We tried that in the ‘real world,’ it was called the petrodollar and it gave rise to a level of wealth inequality and systemic corruption orders of magnitude larger than the world has ever seen.

Why would we want to recreate that in the crypto-world? That’s what, ideologically, the Bitcoin Core developers were fighting for against Segwit2x.

Bitcoin rival doubles in price in four days as Bitcoin price slumps

One bitcoin is now worth less than $5,900, down 25 percent from Wednesday's high above $7,800. Meanwhile, the currency of a rival, spinoff network called Bitcoin Cash has doubled to more than $1,500 over the same four-day period.

This is good news for one side in Bitcoin's ongoing civil war—the side that sees an urgent need to boost the network's capacity to deal with growing congestion and rising transaction fees. People in this camp have been flocking to Bitcoin Cash after a plan to expand the capacity of the main Bitcoin network fell apart on Wednesday.

"Bitcoin Cash is what I started working on in 2010," tweeted Gavin Andresen on Saturday. "A store of value AND means of exchange." It was a pointed dig to the mainstream Bitcoin network, where slow transactions and rising fees have made it an increasingly unappealing way to make everyday payments.

The endorsement is significant because Andresen was chosen by founder Satoshi Nakamoto to lead the Bitcoin project after Nakamoto faded from the scene in 2011. Andresen was frozen out of the Bitcoin Core development team last year in the midst of a bitter debate over the network's future.

Right now, Bitcoin Cash is still the underdog, as the value of conventional bitcoins is about four times the value of "cash" bitcoins. But supporters are betting that this will change as demand for both networks continues to grow. The Bitcoin Cash network has greater capacity now and it has a community that's committed to expand the network further as needed.

Bitcoin Cash backers believe that with the leaders of the mainstream Bitcoin network stubbornly resisting such capacity increases, it's only a matter of time before these advantages make it the dominant payment network in the Bitcoin world.

Why some have opposed expanding Bitcoin's capacity
Until recently, a hard-coded limit in the Bitcoin software—one megabyte per block—limited the network to processing no more than about seven transactions per second. The big-block faction has argued that this limit should be raised to accommodate further network growth.

But others saw decentralization as the essential attribute of the Bitcoin network. They worried that enabling a flood of transactions would make it too difficult for ordinary people to participate in Bitcoin's transaction-clearing process. They've promoted a hack called segregated witness that helps to squeeze more transactions into each one-megabyte block. But beyond that, they've argued that it's actually healthy for Bitcoin fees to rise over time to prevent the network from getting cluttered with low-value transactions.

The conflict came to a head in recent months. In August, some in the big-block camp split off from the main Bitcoin network to create rival network Bitcoin Cash, which supports blocks up to eight megabytes. This provided an alternative platform for those who were frustrated with the lack of growth in the main Bitcoin network.

Later that month, the main Bitcoin network activated the segregated witness hack, which moves cryptographic signatures outside the one-megabyte block limit. This change has roughly doubled the capacity of the network and brought some temporary relief to congestion that had plagued the network for months.

Under the terms of a May compromise, the activation of segregated witness—long favored by the small-block faction—would be followed by an increase in the block size limit to 2 megabytes. That change was supposed to take place in mid-November. But after segregated witness went into effect in August, the apparent consensus began to evaporate.

By the start of November, the proposal to double the block size had become hotly contested. The Bitcoin network is based on consensus, so it's risky to make changes unless they'll be broadly supported. Last week, the leaders of the effort to double block sizes threw in the towel, announcing that the controversial change would not take place after all.

Bitcoin Cash has deepened polarization in the Bitcoin world
Obviously, the fact that Bitcoin won't get a capacity increase this week doesn't mean it can never get a capacity increase. As congestion in the Bitcoin network gets worse, a consensus might still emerge about the need to allow larger blocks.

But it also might not. Many small-block advocates envision an alternative future for Bitcoin in which Bitcoin itself becomes a low-volume settlement layer for high-value transactions—much as banks once shipped gold bars to each other to settle their obligations.

Small-block fans have pinned their hopes on Lightning, a new type of payment network that allows people to make fast, small Bitcoin payments without having to post every transaction to the Bitcoin blockchain. In theory, Lightning could allow millions of bitcoin-denominated payments to happen every day without changing Bitcoin's one-megabyte block size limit. But Lightning is still in development, and it's far from clear if it will work as well as advocates hope.

In any event, excitement about Lightning has convinced some small-block advocates that block size increases aren't necessary at all. And as more big-blockers flee to Bitcoin Cash, opponents of larger blocks will gain the upper hand in Bitcoin's internal politics. That could leave Bitcoin stuck with one-megabyte blocks indefinitely.

Meanwhile, the big-block faction has broad support from Bitcoin's business community—including well-funded Silicon Valley startups. So far, a lot of these companies have continued focusing on mainstream Bitcoin. But with proposals to upgrade the Bitcoin network stalled, it wouldn't be surprising if these companies have a change of heart, concluding that the future of Bitcoin rests with Bitcoin Cash.

And these companies are the main way that many users interact with Bitcoin. If they made it as easy to use Bitcoin Cash as it is to use mainstream Bitcoin—and if capacity constraints continue to cause slow transactions and high fees on the conventional Bitcoin network—users could start switching over to Bitcoin Cash as their preferred network. Which might be why markets have shifted so dramatically toward Bitcoin Cash in the last four days.

Beware of Bitcoin's possible incompatibility with some major services

A subsection of the Bitcoin economy including prominent businesses such as Coinbase, Xapo, and BitPay have signed an agreement to adopt and implement a contentious hard fork of Bitcoin sometime in November. A hard fork is a backwards incompatible change to the Bitcoin network. This hard fork is not supported by the majority of the Bitcoin users and developers and is therefore a contentious hard fork. By adopting this hard fork, we believe the supporters of this agreement are shifting their users to an alternative currency (an altcoin) which is incompatible with Bitcoin.

The signatories of this agreement wrongly believe that the currency created by adopting this contentious hard fork will eventually become Bitcoin. Therefore storing any BTC on services such as Coinbase, Bitpay and Xapo is strongly not recommended. By storing BTC on these services, you could find that after the hard fork, your BTC has been renamed to something else or replaced entirely with the new altcoin. The best way to ensure that your BTC is protected is to download the latest version of Bitcoin Core and transfer out any BTC stored on services that are a signatory to this agreement. We have listed the businesses supporting this contentious hard fork at the bottom of this document.

For users who aren’t prepared to install Bitcoin Core and go through the lengthy set up process, we recommend a wallet such as GreenAddress, Electrum or TREZOR. Avoid using web wallets like blockchain.info. However users should only use these wallets to store their coins and never perform transactions until well after the hard fork. Any transactions you make on the Bitcoin blockchain can also be replicated and “replayed” on the altcoin chain. If the coins on the contentious hard fork have any value, there will be methods you can use to “split” your coins and have access to them. Pay extra attention to major Bitcoin communication channels and media shortly after the fork so you stay informed.

Mobile wallets

Miners in Bitcoin are responsible for transaction ordering through putting transactions into blocks, and collectively creating a chain of these blocks. Most mobile wallets depend on blindly trusting the longest chain produced by the miners in order to safely send and receive transactions. There is considerable mining power supporting the contentious hard fork. A majority of miners have pledged to support the contentious hard fork, therefore the longest chain as seen by most mobile wallets may not be the true block chain. As a result of this, spending money from a mobile wallet during a hard fork is dangerous. You will be vulnerable to many attacks as your wallet is not aware that the miners are breaking the consensus rules on the longest chain.

If the contentious hard fork has failed and the majority of miners have broken their pledge to support the hard fork, it is safe to continue using mobile wallets, however you should check multiple sources of Bitcoin news such as this website, /r/bitcoin, and the Bitcoin Forum to make sure that it’s safe to continue using your particular wallet. As a general rule, you should not perform any transactions during and shortly after the hard fork.

After the fork

Blocks may be slower shortly after the hard fork and your transactions will take longer to confirm. You will have to pay a higher transaction fee if your transaction is high priority and you want it confirmed in the next block. You should try to get any important transactions done a few days before the hard fork date. A lot of websites and programs will likely pop up around the time of the hard fork offering to split your Bitcoin so you can have access to both your BTC and to the new altcoin created by this contentious hard fork, you should exercise caution as many of these services are likely to be scams trying to steal your bitcoin. As the hard fork has very little replay protection, most transactions you perform on the Bitcoin network will also be valid on the hard fork network. You should keep this in mind when transacting.
Some services may continue to present and name the altcoin created by this contentious hard fork as Bitcoin. Users should be aware that this new currency is not Bitcoin. Bitcoin can only be changed with the overwhelming consensus of the entire Bitcoin community of individuals, miners, developers and economy. Even when there is overwhelming consensus, unless in an emergency, a hard fork should have at least a year notice period to give enough time for users to upgrade. This hard fork being adopted by the signatories of this agreement achieves none of these things. It is a rushed and hasty upgrade which only has minority community support and has been thoroughly rejected by users and the technical community. As this new altcoin is not Bitcoin, Bitcoin.org will not list wallets and services that present this altcoin as “Bitcoin” or “BTC” to their users after the hard fork. These services have exited the Bitcoin system in a contentious manner and therefore are no longer useful to our visitors.

The following companies and services have pledged to adopt the contentious hard fork:

Wallets

• Abra (United States)
• Bitcoin.com (St. Kitts & Nevis)
• BitPay (United States)
• BitPesa (Kenya)
• Blockchain.info (UK)
• BTC.com (China)
• Circle (United States)
• Coinbase (United States)
• Coins.ph (Phillipines)
• GoCoin (Isle of Man)
• Jaxx (Canada)
• Luno (Singapore)
• Ripio (Argentina)
• Unocoin (India)
• Xapo (United States)

Exchanges

• ANX (Hong Kong)
• Bitex (Argentina)
• bitFlyer (Japan)
• Bitso (Mexico)
• BTCC (China)
• BTER.com (China)
• Coinbase (United States)
• Coins.ph (Phillipines)
• CryptoFacilities (UK)
• Korbit (South Korea)
• Safello (Sweden)
• SFOX (United States)
• ShapeShift (Switzerland)

Miners

• 1Hash (China)
• Bitcoin.com (St. Kitts & Nevis)
• Bitfury (United States)
• Bitmain (China)
• Bixin.com (China)
• Genesis Mining (Hong Kong)
• ViaBTC (China)

Other

• Bitangel.com /Chandler Guo (China)
• BitClub Network (Hong Kong)
• Bloq (United States)
• Civic (United States)
• Decentral (Canada)
• Digital Currency Group (United States)
• Filament (United States)
• Genesis Global Trading (United States)
• Grayscale Investments (United States)
• MONI (Finland)
• OB1 (United States)
• Netki (United States)
• Purse (United States)
• Veem (United States)

A Source

IBM AND KRUNGSRI ANNOUNCED THE SUCCESS OF THE PILOT PROJECT USING BLOCKCHAIN

Krungsri (Bank of Ayudhya PCL) and IBM made public the information on the successful completion of the development of a pilot project on the basis of a block of flats, which was created to optimize the processing of bank contracts. Block-technology has improved this process by making information more secure, and transactions transparent. In addition, the efficiency of work was increased and its duration was reduced.

TESTS BLOCKAGE IN ONE OF THE THAI BANKS

Krungsri is now the fifth-largest universal bank in Thailand in terms of assets, loans and deposits. The institution provides a wide range of financial services, including state management, credit card issuance, insurance (not life-related), asset management, securities trading, etc.

Voranouch Deykayisaya, one of the main managers of Krungsri, stated the following:

"A pilot contract management project is a test of the use of the power of block-technology in the system of internal processes and back-office; its purpose is to increase the efficiency of internal operations and the convenience of users. We started testing the pilot project last year - the results satisfied us. The current task is to digitize the processing of documents, store the documents themselves with information about authentication and approval in the database on the block, as well as the distribution of this platform throughout the network of branches of our bank. "

Together with the team IBM Cloud Garage, the bank Krungsri can translate the initial plans into reality in three months, using Hyperledger Fabric and blocking services on the IBM Cloud. As a toolkit and framework for development, Hyperledger Composer was used to accelerate the development of a blocking application.