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Cryptocurrency And Blockchain News Update 9th December 2019

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Famous Economist Gets Hit With Crypto Scam

Nobel laureate and economist Paul Krugman told his followers on Twitter that he has been receiving suspicious emails about his ‘blockchain wallet.’ The problem is, he doesn’t have a blockchain wallet.   “OK, this is extremely weird. I received an email saying that a payment has been received into my blockchain wallet. But I don’t have a blockchain wallet. Presumably, there’s some kind of fraud going on, but what?”

SEC Pressures English Courts To Take On Telegram

The United States Securities and Exchange Commission (SEC) asked the High Court of England and Wales to force Telegram’s former chief investment advisor John Hyman to testify in the case over the firm’s Grams tokens offering. The SEC’s request was revealed by documents filed by the regulator with the U.S. District Court for the Southern District of New York yesterday.

Social Media Platform Voice Launching Blockchain In 2020

Voice, which is the social media platform first unveiled by EOS creator Block.One in June announced that it will launch in beta on Feb. 14 in 2020. The firm promises that it will share its progress with the community as the development goes on. Voice also claims that thousands have already signed up to take part in its beta testing. The firm also admits that the initiative is still plagued by regulatory uncertainty and that it is still working with regulators to ensure compliance

Italian Publishers Are Using Blockchain To Manage Systems

The Italian Society of Authors and Publishers (SIAE) has teamed up with Algorand to develop a new ecosystem for copyright management, based on Algorand’s recently launched blockchain platform. The Italian Society of Authors and Publishers had already started to develop the project – with the help of “La Sapienza” the University of Rome and consulting company Blockchain Core. The Italian Society of Authors and Publishers has now decided to focus on the Algorand platform for its by design public nature and its high performance. 

Ethereum Istanbul Hard Fork Complete

Moving into big news with Ethereum which is now at block number 9,069,000,  with the systemwide upgrade which is the network’s third in 2019, following February’s St. Petersburg and Constantinople hard forks. The months-long process culminated in the last 24 hours. Istanbul is the network’s eighth hard fork overall with the first code changes being approved in June 2019, Eth 2, the network’s major transition to proof-of-stake (PoS), is expected in 2021.

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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Altcoin News

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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Altcoin News

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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