American Citizen Arrested For Educating North Korea On Blockchain And Crypto

Prosecutors announced the arrest of a U.S. citizen who traveled to North Korea to deliver a presentation on how to use blockchain and crypto to avoid sanctions. Today United States prosecutors announced the arrest of Virgil Griffith, who allegedly traveled to the Democratic People’s Republic of Korea (DPRK) to deliver a presentation on how to use cryptocurrencies and blockchain technology to circumvent sanctions. According to the November 29 announcement, the 36-year-old Griffith was arrested at the Los Angeles International Airport, and will be charged with conspiring to violate the International…

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If Bitcoin Price Drops — an Opportunity for Crypto Tax Planning

Bitcoin traders can use Bitcoin price drops to reduce their tax liabilities. After many countries around the world such as the United States, the United Kingdom, France, and Portugal published their own cryptocurrency tax guidelines this year, it is only reasonable they will expect to see an increase in crypto tax filing. They may even follow suit with the U.S. Internal Revenue Service and begin their own crypto tax compliance campaign. As the price of Bitcoin (BTC) jumped this year, so too did the tax liability for every profitable sale,…

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Crypto Community Erupts Over Ethereum Foundation Member’s Arrest

On Friday the United States Attorney’s Office for the Southern District of New York (SDNY) announced the arrest of Ethereum Foundation member Virgil Griffith for allegedly “assisting North Korea in evading sanctions” by teaching “his audience how to use blockchain technology.” After the Manhattan U.S. Attorney revealed the news, the cryptocurrency community erupted in outrage. Also read: German Banks Authorized to Store and Sell Cryptocurrency in 2020 US Attorney’s Office Arrests Virgil Griffith for Teaching Blockchain Technology to North Koreans The U.S. Attorney SDNY and the Federal Bureau of Investigation…

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Study: Blockchain Can Reduce Food Fraud By $31 Billion Within 5 Years

By applying blockchain technology and IoT the food industry could save up to $31 billion in food fraud savings. The food industry could save up to $31 billion in global fraud savings by tracking food on its way from farms to consumers via the blockchain. A Nov. 25 study by Juniper Research reveals that blockchain technology, in combination with Internet of Things (IoT) sensors and trackers, will greatly reduce retailers’ costs by streamlining supply chains, while simplifying regulatory compliance, offering more efficient food recalls, and tackling fraud. The study points…

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IBM Files A Blockchain Patent For Fighting Package Theft By Drone

It’s time to tackle the potential future problem of package theft by drone. IBM has filed for a patent of a system that uses blockchain technology to prevent drone-enabled package theft. According to a filing published by the United States Patent and Trademark Office (USPTO) on Nov. 12, IBM will track drone altitude using an Internet of Things (IoT) altimeter, while continuously uploading that data to a blockchain secure platform. Drones might be a thief’s perfect tool It might become ordinary for drones to be used for stealing packages in…

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Bitcoin Cash Double Spend Statistics Invoke 0-Confirmation Debate

On November 28, the creator of doublespend.cash, a web portal that tracks and collects double spend attempts on the Bitcoin Cash network, explained that only 1 out of 1,105 double spends succeeds when they broadcast one second after the first transaction. The website’s creator highlighted that in most cases “only when submitted simultaneously, can a double spend succeed.” Also read: German Banks Authorized to Store and Sell Cryptocurrency in 2020 BCH Proponents Discuss Double Spends, Honoring the ‘First Seen,’ and Current Zero-Confirmation Security Bitcoin Cash (BCH) participants have always been…

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EU Fights Corporatization of AI and Blockchain With Massive Investment

Can the EU’s massive investment into blockchain and artificial intelligence research and development save us from the world’s tech oligopoly? The European Union’s announcement of a new 110 million euro fund to support research on artificial intelligence and blockchain comes at a critical time for the AI industry, when issues at the intersection of privacy, security and AI are the focus of acute attention by government, the tech industry and the general public. Blockchain technology has the promise to radically transform the way society handles data as well as how…

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Price Analysis 29/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Bitcoin price has rallied 20% since dropping to $6,560, leading traders to closely watch altcoins for similar price action. The futures market provides good insight into the sentiment of larger players. If the futures volume continues to rise in a falling market, this indicates that a decline is likely to extend further. However, if the volume increases with a rise in price, this shows that the market participants are accumulating positions.  On Nov. 27, Bitcoin closed in the green and Bitcoin futures on Bakkt hit a new all-time high volume…

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Disgruntled Investor Sues Stox Prediction Market and Founder

A Vancouver-based investor claims that he lost at least $430,000 due to misconduct and breaches of contract by crypto firm Stox. Israeli crypto entrepreneur Moshe Hogeg and his blockchain firm Stox (STX) are facing a lawsuit from a disgruntled investor in the United States. A Vancouver-based investor has accused Hogeg of major breaches of contract and alleged fraud that caused him losses of at least $430,000, according to a lawsuit filed Nov. 25. The complaint is filed with the United States District Court for the Western District of Washington. In…

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US and China Battle for Blockchain Dominance

China is winning the US in the numbers of the blockchain-related patents filed between 2014 and 2019, but who are the top patent owners in each country? When Chinese President Xi Jinping announced strong support for blockchain technology last month, pundits suggested that China would soon overtake the United States in dominating blockchain innovations. Our patent research at the Blockchain Center of Excellence at the University of Arkansas finds that China is already winning the Intellectual Property arms race against the U.S.  We examined blockchain-related patents that were granted from…

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