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Hyundai Motor Group plans to apply blockchain in its new smartphone-vehicle pairing performance adjustment technology. South Korea’s largest car manufacturer, Hyundai Motor Group, will use blockchain in its new tech for pairing electric vehicles (EVs) with smartphones. Sustainable mobility-focused news agency Green Car Congress reported on the development on April 22. Hyundai reportedly announced development of smartphone-EV pairing based performance adjustment technology that allows users to customize primary functions via a smartphone application. In the claimed industry-first, Hyundai will reportedly implement blockchain technology to prevent security issues while users upload and share their custom settings on the server. As such, the upcoming system is set to encrypt major performance parameters on a blockchain network by creating new data blocks in the process of uploading and sharing custom settings in order to prevent unauthorized manipulation of data. According to the report,..
A major travel management firm in the United Kingdom has partnered with BitPay, which will allow it to accept bitcoins as payment. Corporate Traveller, the largest travel management firm in the United Kingdom, is now accepting Bitcoin (BTC) for payments, according to a press release on April 15. A newly announced partnership with crypto payments company BitPay will allow Corporate Traveller — which provides business travel management services to SME companies — to accept bitcoins. Andy Hegley, U.K. General Manager at Corporate Traveller said: “We identified an increasing demand from our clients for the option to pay in bitcoin for business travel bookings made by our travel consultants. We chose BitPay to manage our merchant processing because they make it easy and handle the entire process of getting the Bitcoin or Bitcoin Cash from the customer and depositing cash into our account.” According to the press release, Corporate Traveller is unconcerned with price volatility in crypto ma..
The founder and coordinator of the largest group of creditors of collapsed BTC exchange Mt. Gox has quit his post and sold his claim. Andy Pag, the founder and coordinator of Mt. Gox Legal (MGL) — the largest group of creditors of the now-defunct Bitcoin (BTC) exchange Mt. Gox — has quit his post and decided to sell his claim. Pag announced his decision in a letter posted to the MGL contributor forum on April 4. Mt. Gox Legal — a cooperative of over 1,000 creditors with claims reportedly totaling more than an estimated 125,000BTC (~$649 million at press time) — was formed to seek coordinated legal action to support Mt. Gox’s transition from bankruptcy proceedings to civil rehabilitation (CR). This transition, which formally took effect in June 2018, should ensure that creditors are reimbursed in crypto, rather than in fiat currency equivalent to the value of their BTC holdings at the time of the exchange’s collapse. As previously reported, Mt. Gox was notoriously hacked in 2011, with ..
MUFG, the fifth largest bank in the world, is set to put its digital currency MUFG Coin into practical use later this year. Japanese bank holding and financial services company Mitsubishi UFJ Financial Group (MUFG), the fifth largest bank in the world, is set to put its digital currency MUFG Coin into practical use later this year. The news was reported by Cointelegraph Japan on April 9. News of the planned rollout was revealed by the newly-appointed MUFG president Kanetsugu Mike in an interview with local media agency Asahi Shimbun, Cointelegraph Japan reports. MUFG is the largest financial company in Japan and is prospectively set to become the first Japanese bank to issue a virtual currency, specifically a blockchain-based stablecoin pegged 1:1 to the Japanese yen. The asset is designed with a focus on currency functionality, with customers to download an app that will automatically convert their bank deposits into the stablecoin. According to Cointelegraph Japan, approximately 1,5..
Wien Energie has announced their new blockchain fridge, developed with Bosch, as part of a sustainable energy consumption experiment. Austria’s largest energy provider, Wien Energie, has developed a blockchain-driven fridge in partnership with tech giant Bosch, Cointelegraph’s correspondent reported from the ANON Blockchain Summit Austria. Wien Energie presented the new model during the crypto conference in Vienna on April 3. The official release claims that the decentralized technology is used in the construction of a refrigerator for the first time. The main goal behind the project is to increase consumer interest in the sustainable consumption of energy. A blockchain solution in this case allows one to choose the source of the energy, be that a solar panel or a wind power plant. Each kilowatt used by the fridge can be traced to its origin, the release reads. Moreover, the blockchain fridge can be fully operated via smartphone. A user is able to control the temperature of the fridge..
A case involving a drug dealer has concluded after he failed to convince a judge his Bitcoin earnings were legitimate. A Toronto judge has ruled an online drug dealer must pay his entire $1.4 million Bitcoin (BTC) holdings to the state in what is reportedly Canada’s largest ever forfeiture, local daily news outlet The Star reported April 3. Matthew Phan, who dealt in illegal narcotics online, had tried to convince law enforcement he had amassed his 281.41 BTC (worth around $1.4 million at press time) through other activities. The court had sought to claim the stash in February, with Phan appealing against the demands, a process he has now appeared to lose. According to The Star, Superior Court Justice Jane Kelly said Phan had failed to convince her that the funds had materialized as a result of legal operations such as trading on cryptocurrency exchanges. “It is a reasonable inference to draw that payment for such illegal narcotics sales was made using Bitcoin that was found in the di..
The president at Japanese cryptocurrency exchange DeCurret unveiled the new cryptocurrency payment system. Kazuhiro Tokita, representative director, board member and president at Japanese cryptocurrency exchange DeCurret, unveiled a new cryptocurrency payment system during a business presentation in Tokyo on March 27. Cointelegraph Japan reported on the presentation the same day. The new system would enable the SUICA payment card issued by the East Japan Railway Company (JR East), Japan’s biggest railway company, to be topped-up with cryptocurrency. Still, the report points out that there are no concrete plans as of press time, and that JR East is only considering the implementation. Data released by the company shows that as of the end of March last year, nearly 70 million SUICA cards were issued. According to the dedicated website, SUICA is a prepaid e-money card which allows its users to pay both for some goods and services, as well as transport. As Cointelegraph recently reported,..
Major Austrian energy provider Wien Energie is exploring the use of DLT for electric car charging stations. Wien Energie, the largest energy provider in Austria, has announced a charger for electric cars based on distributed ledger technology (DLT) in a press release on March 28. Per the release, Wien Energie in partnership with blockchain tech firm Riddle & Code are testing an electric vehicle charging station with “integrated secure machine identity” in Vienna. The new machines purportedly aim to provide immutable data interfaces that connect various aspects of the power supply chain, including smart meters, producers and consumers. In its initial stages, the station will purportedly allow real-time settlement of charging transactions. Once the system is proven, the system will begin to roll out in the last quarter of 2019. The DLT-based chargers will purportedly be part of the research project “Peer 2 Peer im Quartier,” which is funded by the FFG (Austrian Research Promotion Agency..
Leading Swiss online retailer Digitec Galaxus has announced that it now accepts cryptocurrencies. Leading Swiss online retailer Digitec Galaxus has announced that it will now accept cryptocurrencies, according to a press release published on March 19. Per the announcement, the shop is now accepting Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Litecoin (LTC), Tron (TRX), NEO (NEO) and OmiseGO (OMG) for purchases worth over CHF 200 (about $200). The release further claims that the shop hosts around 2.7 million products, ranging from wheat beer to gaming PCs. The new payment method was reportedly jointly developed as part of a pilot project with Swiss payment processor Datatrans and in collaboration with Danish crypto payments startup Coinify. The system opens 15-minute-time windows for customers, during which the crypto exchange rate doesn’t change in order to make the payment with a fee of 1.5 percent. As part of its move toward..
The Binance Coin burn started when the cryptocurrency winter started at the beginning of 2018. At the time, all the top cryptocurrencies per market capitalization fell significantly against the USD. However, the Binance Coin burn seems to have come to an end as the native token of the Binance Chain is currently up by 141. 7% since the beginning of the year while BTC is only up by 4%. BNB is outperforming the entire cryptocurrency market. It has stopped tracking the price of BTC. Binance Coin (BNB) Stops Tracking BTC BTC is the largest cryptocurrency per market capitalization. The market share of the flagship cryptocurrency is more than 50%. Since the beginning, there has been a correlation between the price of BTC and the price of virtually every other cryptocurrency. Few cryptocurrencies have been able to break this relationship. Even when they do, it is only temporary. The Binance Coin (BNB), on the other hand, seems to have broken the relationship completely as it is no longer trac..