Wednesday, March 13, 2019

The New York Chains

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March 13, 2019

BLOCKCHAIN TIMES? The New York Times is getting ready for a publishing experiment using blockchain technology. According to a new job posting, the media organization is looking for someone to help “design a blockchain-based proof of concept for news publishers.” To start the project, NYT is looking for a “forward-looking leader” who would be working on the proof-of-concept’s outline for 12 months within the company’s research and development division (though this job posting was quickly taken down). Full Story

STUTTERING TORCH: An experiment designed to push the boundaries of crypto payments using bitcoin's lightning network has grown into a global game called the "Lightning Torch." However, people engaging with the experiment have brought to light a lesser-known liquidity problem with network's channels, preventing some would-be participants from taking part. However, solutions are in the works that could resolve the issue. Full Story

COINBASE TRANSFERS: Coinbase has launched a new feature allowing users to directly transfer cryptocurrency holdings on Coinbase.com to accounts in the firm’s Wallet app. The option will be available once the app gets updated in the “next few days,” it said. While Coinbase.com stores users’ keys centrally the Wallet app lets them safeguard their own private keys. Direct transfers from the app to website accounts are also planned for the future. Full Story

PETRO PUNISHMENT: The U.S. Department of the Treasury has sanctioned a Moscow-based bank over its role in financing Venezuela’s controversial (and itself sanctioned) petro cryptocurrency. The Treasury said Monday that the Office of Foreign Assets Control has added Evrofinance Mosnarbank – which is jointly owned by Russian and Venezuelan state-owned firms – to its Specially Designated Nationals List. “Early investors in the Petro were invited to buy the cryptocurrency by wiring funds to a Venezuelan government account at Evrofinance,” it explained. Full Story

MAKE OR BREAK: With bitcoin trapped in a key trading range defined by the 200-week simple moving average and the 200- week exponential moving average, for 13th week, the immediate outlook as per the weekly chart is neutral. A break above the upper edge is needed to confirm a longer-term bull reversal. However, a drop below the lower bound of the range could revive the bear market. Full Story​

BEST OF THE BEST

MASHABLE: Despite all the talk of bear markets and scams, cryptocurrency “is good now,” says Mashable, thanks to the release of a trailer for an upcoming movie called “CRYPTO .” The film stars Kurt Russel, and follows a young law enforcement agent (Beau Knapp) on a trip to his home town in New York, where he encounters the Russian mob and their crypto money laundering operation. The movie is on release at select theaters from April 12, and will also be available on demand.

THE REST

CHANNEL NEWS ASIA: A Tokyo court will hand down its verdict on Friday in a case that has seen Mark Karpeles, the former chief of collapsed bitcoin exchange Mt. Gox, tried on charges of manipulating data on the exchange and embezzling millions of dollars. As reported by Channel News Asia, Karpeles is alleged to have embezzled ¥341 million ($3 million) of exchange users’ money and spent it on a 3D-printing software business and personal items, including a $54,000 bed. He faces a 10-year sentence if found guilty.

EDIE.NET: Innovation lab Space 10, which works solely for furniture giant Ikea, is developing a blockchain-powered solar microgrid, according to Edie.net. The project, called SolarVille, features a wooden village prototype designed to demonstrate how a microgrid would allow inhabitants to sell their excess energy to others over the blockchain network. Currently at the modelling stage, SolarVille enables power to be traded directly between participants – that is, without a third party – and is a fully scalable system, the firm claims.

WHO WON #CRYPTOTWITTER

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