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Cryptocurrency And Blockchain News Update 27st November 2019

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Travala Teams Up With Booking.com

Travala, which is a service that allows its users to pay for hotel stays with cryptocurrency, will now let its customers reserve any hotel that is bookable through Booking.com. Travala announced in a recent press release that it has already integrated Booking’s accommodations to its platform. The new feature will allow users to book 90,000 different destinations using cryptocurrencies

Hollywood Executive Steals Millions To Buy Crypto And Gamble

A former executive of a Hollywood-based digital marketing firm has said that he embezzled $22 million from his employer to buy digital currency. The United States Attorney’s Office of the Central District of California announced on Nov. 22 that the man in question pleads guilty to wire fraud and identity theft. He embezzled over $22 million from his employer and used the stolen funds to buy cryptocurrency, gamble and to cover personal expenses. 

China Continues To Lead The Way In Blockchain

89% of China’s blockchain firms have tried to create their cryptocurrency, according to a senior exec at a local blockchain association. According to the state-run CCTV, Yedong Zhu, the president of the Beijing Blockchain Technology Application Association (BBAA), revealed that the vast majority of the blockchain industry in China is focused on tokens, not blockchain. 

Central Bank Of France Looking To Use DLT

The first deputy governor of the French central bank has called for distributed ledger technology (DLT)-based settlements and payment systems in Europe. Speaking at the Annual Capital Markets Technology and Innovation Conference, Mr. Denis Beau, the first deputy governor of Banque de France, delved into the issue of policy frameworks that could potentially help to bring innovation and growth into Europe’s capital markets

Formula 1 Blockchain Game To Sell Tokens

Blockchain game F1 Delta Time — licensed by the racing series Formula 1 — is holding an auction of F1 car-branded non-fungible tokens in the coming days. The auction will be held on Nov. 28, with fans already able to participate in a live contest to compete for various related prizes. As previously reported, F1 Delta Time purportedly draws 1.6 billion television viewers across over 180 territories and engages 506 million fans worldwide. 

 

Altcoin News

3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income

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3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income
3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income

In a special announcement made at the Unitize conference on July 6,  Cosmos, Polkadot, and Terra revealed a new DeFi savings product called Anchor that aims to offer dependable interest rates on stablecoins deposits. The companies involved in the creation of Anchor plan to launch it across their respective blockchains at the end of Q3 this year and scale across to other PoS blockchains in the future. Do Kwon, founder and CEO of Terra, explained in a prepared statement:

“While DeFi staples such as Maker and Compound have been revolutionary in creating fully decentralized crypto money markets, the volatility of their interest rates makes them unsuitable to be used as a household savings product. DeFi mass adoption needs the creation of a fully decentralized savings account that offers dependable APR.”

Anchor’s smart contracts receive stablecoin deposits and use a portion of them to acquire staking positions on compatible Proof of Stake blockchains. Users will receive their passive income from these staking rewards. The initial governance for this platform will come from the Interchain Asset Association (IAA), a newly formed organization that sees Zaki Manian of Cosmos, Jack Platts of the Web3 Foundation, and Do Kwon of Terraform Labs collectively steering the ship.

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Telegram Is Set To Shut Down The TON Testnet By August 2020

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Telegram Is Set To Shut Down The TON Testnet By August 2020
Telegram Is Set To Shut Down The TON Testnet By August 2020

Although Telegram has terminated its blockchain project, Telegram Open Network (TON), in May 2020, the TON test net has been apparently running for almost one year. In a July 6 update, the official TON development group on Telegram announced that it would be discontinuing its support of the test network for TON. Remaining TON validators will be turned off by August 1. In the post, the TON official recommended network participants save all their relevant data and stop their testing processes. Despite the testnet being set to shut down less than a month from now, network participants will still be able to continue their experimentation after the testnet is terminated. In order to do that, users can install their own testnet validators, described in greater detail in three different how-to documents containing guidelines for the Full Node, the Validator, and Test Grams.

Telegram launched the TON testnet for explorer and node software on Sept. 6, 2019. In anticipation of its scheduled Oct. 31 launch last year, the company released an alpha version of an iOS wallet to work with its native token, the Gram. But Telegram’s TON plans were never fully realized, as the United States Securities and Exchange Commission suddenly deemed Telegram’s $1.7 billion ICO illegal in mid-October. After a long-running legal battle with U.S. regulators, Telegram agreed to shut down its TON project, as well as return $1.2 billion to investors in line with a court-approved final settlement. As officially announced by Telegram CEO Pavel Durov, the firm had already reimbursed more than $1.2 billion by June 25.

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Brock Pierce Enters The 2020 US Presidential Race

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Brock Pierce Enters The 2020 US Presidential Race
Brock Pierce Enters The 2020 US Presidential Race

Brock Pierce, entrepreneur, crypto venture capitalist, and child star, has announced his USA Presidential run on Twitter July 5. His tweet stated: “

“I, Brock Pierce, am running for President of the United States of America.”

Pierce’s campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). His website, sparse on details, does not say if he is seeking a nomination in a political party or if he is running as an Independent.

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