UPDATE: As of 2 PM PT/5 PM ET, the cryptocurrency market has begun to climb out of the ditch. Bitcoin is up to $11,375 per single coin, and most of the big board has turned green arrows, with ETH up five percent and Ripple up 20 percent.
Led by co-founder Sky Guo, Cypherium is building a hybrid blockchain to provide optimal on-chain scalability. The company is aiming to address blockchain’s scalability and governance issues by combining two consensus mechanisms – Proof-of-Work (PoW) and Practical Byzantine Fault Tolerance (PBFT).
Russian president Vladimir Putin said that effective legislative regulation for the country’s cryptocurrency market will be needed in the future.
“This is the prerogative of the Bank of Russia at present, and the central bank has sufficient authority so far,” Putin said. “However,
The United Nations Children’s Fund (UNICEF) is looking to invest in early stage blockchain startups with potential to benefit humanity.
The initiative will be led by the UNICEF Innovation Fund, a pooled funding vehicle designed to finance open-source technologies.
Japanese bank Mitsubishi UFJ Financial Group (MUFG), the largest bank in the country, is planning to launch its own cryptocurrency exchange this year.
According to local media reports, the bank has already notified the Financial Services Agency (FSA) on the decision to launch an exchange.
North Carolina House Representative Ted Budd has introduced a bill that calls for the formation of a task force to combat the use of cryptocurrency in financing terrorism and other illicit uses.
Bill H.R. 4752 was submitted to the US House of Representatives on January 10.
Crypto investment platform BitConnect will be closing its lending and exchange platform. The company’s lending operation will be shut down, effectively immediately, while its BCC exchange platform will close in five days.
Registered in Great Britain, BitConnect claims to be an open source,
Denmark-based shipping giant Maersk Line and IBM are establishing a new, jointly owned company to promote and sell a blockchain system for managing global shipping. The joint company is so far unnamed.
The company’s goal is to simplify the complex process of transporting goods across the worlds myriad of disparate trade zones.
NBA basketball team the Dallas Mavericks will accept cryptocurrency payments for tickets starting next season, according to owner and investor Mark Cuban.
A Dallas Mavericks fan asked Cuban on Twitter about the possibility of purchasing game tickets with bitcoin. Cuban simply answered, “Next season.”
NW Blockchain Limited, Newater Technology Partner To Develop Blockchain Solutions For Wastewater Treatment
Newater Technology has partnered with NW Blockchain Limited (NWBL) to jointly develop blockchain applications for the wastewater treatment industry.
Wastewater treatment is a process used to convert wastewater into an effluent (outflowing of water to a receiving body of water) that can be returned to the water cycle with minimal impact on the environment or directly reused.