Swiss Blockchain Hackathon has made a collaboration with PwC, Amazon Web Services

Switzerland will sponsor the Swiss Blockchain Hackathon after this season in an attempt to help companies locate real-life software of blockchain technology, based on a statement printed on Feb. 27.

The three-day event is allegedly coordinated by Switzerland’s six major blockchain and IT associations — Trust Square, Bitcoin Association Switzerland, CV Labs, Crypto Valley Association (CVA), Swiss Blockchain Federation and also swissICT — also will occur from June 21 to June 23, 2019.

Per the statement, the hackathon was made to ease the installation of blockchain across a vast array of industry sectors and help locate the tech’s concrete applications and business models. The event reportedly intends to bring around 200 business players from Switzerland and other nations.

Leading finance and tech companies are partnering with the occasion such as Accenture, Agroscope, Six Digital Exchange, Amazon Web Services, Blockfactory, Cardano, PwC, along with many others.

Switzerland has launched itself as a cryptocurrency and blockchain-friendly nation, using its worldwide hub for virtual currencies referred to as the “Crypto Valley” from the canton of Zug. According to the yearly”State of European Tech” report from tech investment company Atomico, the”Crypto Valley” was rated the high-tech technology community at Europe.

Lately, the president of the CVA, Daniel Haudenschild, announced who”we require a shift in our legislation and [sic] that needs more interaction with lawmakers and regulators. We will need to create Switzerland open and simple for organizations to invest in blockchain jobs” In addition, he noticed that the crypto keep market ruined Switzerland’s standing as a worldwide blockchain hub.

Last December, the Swiss Minister of Finance, Ueli Maurer, suggested that rather than a particular blockchain or cryptocurrency legal frame, Switzerland must tweak present legislation to permit for its new technology along with its own financial program. The authorities reportedly expects to suggest modifications to six legislation, including the civil code and insolvency legislation, this season.


Should you Invest more in Cryptocurrencies?

Cryptocurrency is one of the blockchain applications which got popular. But it’s currently falling and a lot of investors and potential investors have few doubts regarding it. One of them recently asked me the question, “So should I be investing more in it or should I cash out everything I’ve invested?”

One of the common things you might have heard from everyone in the cryptocurrency is space is “Invest only if you can afford to lose it.” This particular line was ignored by a lot of people, they took “towards the moon” memes seriously and invested into it thinking that they’d get great returns.

Before I give my advice, I’d like you people to ask yourselves a few questions.

  1. Are you interested in taking more risk?
  2. Are you okay with losing all the invested amount?
  3. Do you have any other opportunities where you can invest the amount?

Are you willing to take more risk?

Cryptocurrency investments are considered to be one of the most volatile investments. Despite of a lot of technical analysis done by cryptocurrency enthusiasts, no one has been able to predict the cryptocurrency market. So you don’t know if it’s going to rise or vanish someday.

This is just like the other high risk, high gain investments, if you’re willing to take more risk then you shall consider investing into it or hold cryptocurrency. If you’re okay with less gains, then you should consider investing your money at different places such as stock market, buying digital assets or starting a business in the local market.

Are you ready to lose all the money you’ve saved?

Like I’ve mentioned above, if you’re ready to lose all the amount you’ve invested then cryptocurrency should be a place where you should consider investing your money.

It’s not investing, because when you invest your money into something, you at least know what you’re getting into. We can call it as a gamble which can either make you very rich or might even cause bankruptcy.

Besides the ups and downs in the market, make sure that you buy a physical cryptocurrency wallet such as the Ledger Nano, as the online exchanges can go down anytime and you won’t even realize when they vanish, get hacked or get compromised. Recently it was reported that Canada-based cryptocurrency exchange QuadrigaCX went missing after the death of the owner.

Do you have better investment opportunities?

If you have investment opportunities where you have complete idea about the thing, company, or person you’re investing your money into then go for it. It can actually be less risky than cryptocurrency. However, the gains also won’t be as lucrative as cryptocurrency. But there’s no guarantee that the market would go up anytime soon.

If you’re already a cryptocurrency investor then you should consider taking a share of the cryptocurrency and cashing it out and invest into something else, that way you won’t lose much on the potential cryptocurrency earnings and won’t lose much if the market does fall even more.

How can you minimize investment risks?

None of the experts can tell you where the market is heading next, If you don’t believe, just consider opening tradingview and you’ll find a lot of cryptocurrency experts showing different charts. One analysis would say that the coin would rise by 30% and the other would say that it might fall by more than 50% and some would say that the price would remain the same.

It means that no one knows where the market is heading, but everyone is trying to make some meaningful information from the pattern, information and other data they have. Don’t trust any of those graphs, think only one thing. Do you believe in bitcoin? Do you think it would come up someday? And are you willing to take the risk if it falls down? If the answer to the three questions I’ve asked before this sentence is a “YES” then you should consider investing into it or holding it.

However, a key way to minimize your loss would be, diversification. Find out different investment opportunities, invest your money equally or the projects which look more favorable, matches your risk taking abilities and invest into them. That’s the only way you’ll be able to minimize losses, if at all they happen.

Ledger releases new Bluetooth enabled Hardware Wallet and mobile app

Hardware wallets are increasing in popularity as a safe haven for cryptocurrencies. Ledger is among the world’s top suppliers of chilly pockets and its flagship Nano range has only been awarded an update.

The business introduced its most recent iteration of this popular hardware pocket in the Consumer Electronics Show (CES) in Las Vegas this past week. Based on PCmag, the recent Ledger Nano supports 13 crypto assets directly and a lot more through third party apps.

The new Ledger Nano X currently has Bluetooth and supports as much as some hundred more money kinds and wallet apps. The six fold storage growth is for third party programmers to be certain their software can only signal transactions to their own personal key.

Appearance wise it’s very like its predecessor, the Nano S, apart from the port that’s somewhat bigger. This will ease the inputs which have to be created on the apparatus itself to keep safety. Anyone who has ever put up one will understand what we’re discussing this!

Also Read: Will Dubai be the first blockchain powered city in 2020?

A brand new mobile program named Ledger Live Mobile will make the most of this newest Bluetooth connectivity. Users are now able to remotely remove or add apps for a variety of altcoins without needing to plug into a PC through USB cable. In accordance with The Verge incorporating Bluetooth continues to be a contentious movement as some wireless communications are somewhat more vulnerable to unauthorized access or interception.

Ledger says the Nano X was made to simply respond to devices running the corresponding program that has presumably been synched with all the chilly wallet. The program has its own safety attributes which maintain authenticity.

“The very fact that we’ve got a cell program and it works using the Nano X is actually the large growth of the hardware with this particular lineup,” Ledger manager Eric Larchevêque informed Coindesk.

He added that the cost for your Nano S will collapse following the Nano X has been published. In the time of writing it wasn’t yet available on the business website and also the Nano S was priced at $70. The Ledger program is anticipated to go live on the Apple App Store and Google Play Store later this month. The Nano X will soon be accessible for pre-order this week at $119 to send in March.

Also Read: Chilean Treasury releases Blockchain Platform to process public payments

The CES isn’t a crypto series but it’s given the Nano X using its 2019 “Innovation Award in Cyber Security and Personal Privacy” according to a company press release.

Irish Govt approves Anti-Money laundering bill affecting cryptocurrency

As per reports by The Irish Times, Even the Cabinet, the executive part of the authorities of Ireland, has approved a bill that could contribute to the European Union (EU) Fifth Anti-Money Laundering (AML) Directive.

The directive that came to force on July 9, 2018, places a new legal framework for European fiscal watchdogs to control digital currencies so as to safeguard against money laundering and terrorism funding.

In particular, the directive will expand the range to crypto platforms and pocket suppliers, finish the anonymity of savings and bank accounts, and enhance information exchange among governments. EU member nations need to incorporate the directive in their respective national laws by Jan. 20, 2020.

Along with understanding the EU directive, the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 would toughen present laws, for example, use of virtual monies for terrorist funding and restricting using prepaid cards.

Minister of Justice Charlie Flanagan stated:

“The reality is that money laundering is a crime that helps serious criminals and terrorists to function, destroying lives in the process… Criminals seek to exploit the EU’s open borders and EU-wide measures are vital for that reason. Ireland strongly supports the provisions in the fifth EU money laundering directive. ‘’

Also Read: to cease crypto mining business

If the bill passes, financial institutions will be asked to perform stricter due diligence with regard to new customers and could be banned from opening anonymous secure deposit boxes. Furthermore, the bill will allegedly allow the Garda and the Criminal Assets Bureau to get lender records from the plan of money laundering investigations.

Last month, the European Union Blockchain Observatory and Forum created a case for electronic versions of foreign monies on a blockchain, saying:

“Putting digital versions of national currencies on the blockchain means they could then become integral parts of smart contracts. That would unlock much of the potential innovation of blockchain by allowing parties to create automated agreements, including direct transactions in these currencies, instead of having to use a cryptocurrency as a proxy.”

Also in December, crypto-friendly fintech startup Revolut acquired an EU banking permit through the Bank of Lithuania. Revolut’s users at the United Kingdom, France, Germany, and Poland are predicted to acquire a”true present account along with also a non-prepaid debit card” Furthermore, consumers’ deposits are also insured up to $100,000 (roughly $113,500) underneath the European Deposit Insurance Scheme.

Also Read: New York Assemblyman declares the creation of ‘First’ US Crypto Task Force to cease crypto mining business

Japanese amusement and e-commerce giant is allegedly stopping the cryptocurrency mining organization, reported speaking to local media accounts. started its own crypto mining company back in October 2017. But, it currently plans to depart the company because of decreasing profitability. If reports are to be considered, the firm had made a decision to depart crypto mining company in September 2018.

“Deteriorating profitability is the principal reason,” stated ( quoted from Toyo Keizai).

It also added that,

“The withdrawal procedure like the sale of these machines will proceed around to the first half of 2019.”

The business stated that it had jeopardized safety issues of digital money mining enterprise. It said:

“I’d like customers to experience the outstanding mining website in their own lives. From such notion, DMM opened part of the [mining] farm into the general public, but that was canceled in early June. It’s as it’s judged that ensuring safety is not difficult. Overseas, theft of digital money mining machines was stable, and [there were efforts ] even in the DMM’s Kanazawa farm”

Also Read: New York Assemblyman declares creation of ‘First’ US Crypto Task Force is the operator of DMM Bitcoin — among those 16 controlled cryptocurrency markets in Japan. DMM founder Keishi Kameyama lately said that he intends to concentrate on the exchange company and blockchain moving ahead.

In addition, the company announced that it won’t launch its crypto trading program Cointap as intended, stating it is now hard for it to attract beginner crypto dealers in the aftermath of decreasing cryptocurrency prices along with the hack of Coincheck trade last January.

Last month, another Japanese company GMO Internet declared plans to stop the growth, manufacture, and sales of cryptocurrency mining machines. It stated that”the environment is competitive due to the diminished demand mainly because of the decrease in the cryptocurrency cost, the decrease in the sales cost, etc..”


French Crypto Banking Startup Hush disappears failed ICO

Launched in Toulouse, France, crypto startup Hush’s providers were described as comparable to those provided with a “neo-bank” – that aimed to reevaluate the standard banking sector by producing a participative community of electronic money users.

Hush’s founders had intended to utilize a decentralized government model, substantially in precisely the exact same manner other blockchain-based consensus calculations until it had completed. Leading the organization’s development efforts was Éric Charpentier, the former creator of fintech company, Morning. Those familiar with Crohn’s surgeries would be aware that the organization’s business activities were suspended by regulatory authorities.

Morning’s management group was detained by French authorities of misappropriating company funds. Following a troubling interval, Morning was obtained by Edel, a France-based banking institution and subsidiary of E, Leclerc Group, a large combined society, and hypermarket chain.

Failed ICO Despite Great Ratings

Shortly after quitting Morning, Charpentier started working on his new startup thought, Hush, that started to have a great deal of focus on social networking, particularly if plans concerning the firm’s first coin offering (ICO) became people. Hush’s founders wished to increase approximately $17 million to $23 million in the ICO.

Also Read: Abkhazia Government cuts off the power of 15 Crypto Mining Farms

Supporting the launching of Hush’s ICO have been a set of renowned advisors along with the crypto startup managed to obtain pretty good ratings because of its ICO prospects. But, Hush’s fundraising campaign wasn’t effective as the ICO just sold 245 USH tokens and increased around $618,000.

Along with not having the ability to increase the goal amount to help establish the business, Hush’s founders slowly went silent. Charpentier also allegedly deleted several tweets linked to the Hush job and deactivated his LinkedIn account.

Additionally, Hush’s Telegram and Medium accounts were deleted. French information outlet Mind Fintech printed a study on the topic where it noted that advisers and several other service providers had”been compensated” by Hush’s supervisors which”there wasn’t any news” in the organization’s founder.

“We Leave The Fantasies For Others”, Just Use”Real Investors”

Meanwhile, the France 3 television channel contacted you of Hush’s neighborhood supervisors, Max Massat, who informed the press outlet the reports concerning the startup were”exaggerated.” Massat additionally told France 3 (in September 2018):

Eric [Charpentier] is currently taking the opportunity to handle his jobs far from the strain of the networks. We’ve decided to not justify ourselves. We operate in silence. The actual investors in the job understand. We depart the dreams for many others.

Notably, Massat hasn’t issued any additional remarks since September and Charpentier hasn’t issued any statements regarding Hush. There is also no current action on Hush’s Telegram station.

Also Read: Fortnite Merchandise begins accepting Monero as a Payment method

A reporter by Venture Beat was able to receive a statement from Sébastien Bourguignon, a blockchain adviser and among Hush’s job advisers. Bourguignon said:

I didn’t have some information from Eric Charpentier because [the center ] of June, he did not cover me to get the advisory [job ]. I’m in litigation with him.

Iran says Telegram Crypto Aspirations an Act against National Security

The Iranian government has taken additional measures against Telegram’s cryptocurrency growth, the Tehran Times reported on Dec 31.

Secretary of the Criminal Content Definition Task Force Javad Javidnia has announced that any collaboration with the VoIP messaging program to establish its Gram token will likely be regarded as an act against domestic security and a disruption to the national market. Javidnia said:

“Among the most essential facets in banning Telegram was a feeling of serious financial threat from its actions, which was sadly marginalized and failed on account of this fuss from the political setting of the nation.”

Iran first banned the program in April when supreme leader Ayatollah Ali Khamenei stated that authorities bureaus would no longer utilize the program. The nation’s judiciary subsequently forbade its use entirely. Back in December 2017, Iran briefly obstructed Telegram and photo-sharing program Instagram to be able to “keep peace” amid widespread protests.

Before the ban, Iranian officials criticized the program, saying its first coin offering (ICO) was possibly “undermin[ing] the federal currency of Iran.” Hassan Firouzabadi, the secretary of the High Council of Cyberspace accepted the proposed ban because of Telegram’s possibility of bringing cryptocurrency to every one its displaced users.

Also Read: Indian Government delays Crypto Regulations, Uncertainty continues

Firouzabadi called Telegram within an”enemy of the personal sector,” because”Telegram never [agreed] to have an office in Iran and refused to operate with the private industry.”

The go-to messaging program of this crypto sector was additionally banned at Russia as a result of worries over its ICO, together with the chance of a”totally uncontrolled monetary system” allegedly resulting in the block.

Telegram increased almost $1.7 billion in just two financing rounds earlier this season, among the industry’s biggest. The ICO searched investment to encourage the evolution of this Telegram messenger program and its blockchain platform Telegraph Open Network.

Russian billionaire Roman Abramovich allegedly participate in the initial round of the ICO. Persons knowledgeable about the issue told Russian media that Abramovich spent $300 million. Jon Mann, Abramovich’s spokesperson, made no remark as to if Abramovich took a part, but denied that the $300 million claim.


Indian Government delays Crypto Regulations, Uncertainty continues

In case India’s battered cryptocurrency ecosystem anticipated regulatory clarity soon, then it’s set for disappointment. The Indian parliament was advised last week that the government is in no rush to finalize any standards or to set a deadline for the job.

“In lack of an internationally acceptable solution and also the necessity to invent technically viable remedy, the department is pursuing the issue with due care. It’s hard to say a particular deadline to think of clear guidelines,” Pon Radhakrishnan, the ministry of state for finance, informed the Lok Sabha, the lower house, on Dec. 28.

Radhakrishnan was responding to a query from a fellow parliamentarian.

Certainly, the Narendra Modi government is in no mood to offer any respite to investors or cryptocurrency exchanges. The government had formed a committee in November 2017 to examine and indicate guidelines on virtual currencies. This weapon was expected to publish a draft report for its members on bitcoin and its ilk this season. The findings of the report have been discussed at the upcoming assembly in January 2019.

In March 2017, the government had constituted a task force on precisely the exact same problem but its findings weren’t published.

No clarity

The sector has been ruling that the lack of a very clear set of regulations that have kept investors. The combined signals from the authorities have just made things worse.

For example, a statement in October in the authorities suggested they are taking a look at banning using cryptocurrencies in India. On the other hand, the legal records filed in November revealed the government is still attempting to select between a ban or regulations.

Also Read: White Hat Hackers earned $878,000 from Crypto Bug Bounties in 2018 says report

Meanwhile, the Reserve Bank of India (RBI) has stifled the business, forbidding banks from managing virtual money exchanges and dealers. The market, on its part, has obtained the RBI and the other government agencies into the courtroom.

The ecosystem was pinning its expects on 2019 and anticipating a better set of criteria and also for the courts to have a call. It’s been a very long wait indeed.

White Hat Hackers earned $878,000 from Crypto Bug Bounties in 2018 says report

Bitcoin might have been dubbed the “world’s most protected transaction settlement coating” by Anthony Pompliano, but the sector surrounding the protocol might not be too stable. Case in point, crypto startups have forked out over $878,000 in bounty to white hat hackers in 2018, especially for resolving bugs that slipped beneath the radar.

Crypto Startups Awarded $878,000 To “Goody Two Shoes” Hackers

The Next Internet’s Hard Fork pillar lately reported that within the duration of 2018, blockchain companies awarded $878,504 into goody too shoes hackers to get rectifying bugs., the firm behind the crypto juggernaut at EOS, forked out up of 60 percent of the above sum. Considering the startup raked in an estimated $4 billion because of its EOS nominal offering, among the very recognizable cryptocurrencies of all time, it makes sense why awarded $534,500 to white hats.

Lately, Coinbase, the apparently unhackable $8 billion upstart, comes behind with $290,381 in paid bounties. However, HackerOne, the cybersecurity system that compiled the information, did not disclose how much of the amount was a consequence of 2018 bugs, as Coinbase supposedly started its disclosure application in 2014. Justin Sun-headed Tron, that recently surpassed lots of applicable landmarks, has found itself behind Coinbase, enabling white vases to score 76,200.

Nevertheless, these quintuple and sextuple amounts are border cases, as a HackerOne spokesperson told Difficult Fork that”the ordinary bounty [paid] to get blockchain businesses in 2018 was 1,490, that’s greater compared to Q4 platform typical of about $900.”

Also Read: Cryptocurrency Exchange Kraken enables Bitcoin Cash and XRP Margin Trading

Still Vulnerable

As many crypto jobs talk a big game, the most important thing is that numerous blockchains and cryptocurrency-friendly startups remain exposed. According to NewsBTC at early-August, Altex, a lesser-known crypto strength market, watched its ARQ stash becoming looted. The stage claimed it”missing a major amount,” especially because of bug that emanates out of the Monero codebase.

Two weeks after, Pigeoncoin (PGN) fell victim to an odd inflation insect, CVE-2018-17144, that enabled a lousy actor to whip up 235 million PGN in a day’s time. The bugged line of code comes in the Bitcoin protocol. The problem has been patched by Bitcoin Core (the applications ) developers, yet this event shocked consumers en-masse.

Ground-breaking bugs are not confined to the little cryptocurrencies. In July, SlowMist, a Chinese cybersecurity company, claimed an anonymous user was able to double spend 694 Tether(USDT). In accordance with SlowMist, a transactor managed to acquire credit for 694 USDT within a market without sending the money. Upon digging, it had been found that the problem was that the fault of the victimized exchange. Dacoinminister, a creator of the Omni Protocol, that Tether relies on, wrote:

“It seems that what occurred here is that a market was not checking the flag on trades. They accepted a trade with legitimate = false (they shouldn’t have), and the next”double pay” trade had legitimate = true, they also accepted”

Also Read: Samsung wants UK Trademark for Crypto Wallet

Irrespective of where this difficulty originated in, the three above instances just accentuate the fact that this sector remains nascent. So, this industry developers still have a ways to go until crypto is spick and span, and prepared for global consumption.

With Inputs from Aditya Worah, Writer at CryptoGround LLC

Japanese FSA receives 190 Cryptocurrency Exchange License Apps

The Western Financial Services Agency (FSA) obtained 190 cryptocurrency exchange permit software, an undercover FSA staff member advised Cointelegraph Japan on Dec. 28.

The FSA has awarded the neighborhood crypto industry self-regulatory standing, certifying the Western Virtual Currency Exchange Association (JVCEA) to oversee the distance. The JVCEA is currently anticipated to come up with anti-money-laundering (AML) coverage and providing guidelines to crypto exchanges.

Since Cointelegraph lately reported, this type of permit was recently allowed to cryptocurrency trade Coincheck. Adhering to a hack on in the market in January, it obtained two business development orders in the FSA.

Also Read: Hacker steals 200BTC from Bitcoin Electrum Wallet

Those progress orders were mostly concentrated on setting higher standards for client security and anti-money-laundering measures. The FSA delivered “punishment notices” to seven crypto trades in March.

The commissioner of Japan’s FSA stated in August that the agency wanted the crypto sector to”develop under proper regulation” He reassured that the bureau has”no intention to curtail [the crypto sector] too”

Since the cryptocurrency and blockchain businesses are growing in Japan, so in addition to the FSA. In July, the Bureau experienced that a significant overhaul to be able to deal with fintech-related areas, such as cryptocurrencies.

Also Read: Bitcoin Exchange Huobi announces Post-Christmas layoffs

The Strategy Development and Management Bureau substituted the Inspection Bureau, and will allegedly develop a financial plan policy and manage problems addressing the electronic monies marketplace, fintech, and money laundering.

The Policy and Trade Bureau will triumph the Planning and Coordination Bureau and is tasked with creating a legal framework that addresses the fast increase of this fintech sector.

After introducing regulations which necessitates cryptocurrency trades to report suspicious transactions, the Japanese National Police Agency (NPA) reported a steep growth in such accounts. According to the NPA, there were 5,944 such reports between January and October.