Founder of GAW Miners Pleads Guilty To Fraud Charges ...
GAW Miners: Proof of Fraud - Coin Brief
AMA Recap of CEO and Co-founder of Chromia, Henrik Hjelte in the @binancenigeria Telegram group on 03/05/2020.
Cryptocurrencies mixed this morning after yesterday's rally, study released suggesting hard-forks weaken market's stability
Austin, Texas is working on a blockchain-based identification system that is geared towards helping homeless individuals keep track of important documents, like birth certificates, social security cards, and other identification documents. City officials cited that in the past, they have had difficulty providing aid to homeless people, as lack of identification has been one of the biggest deterrents. The city of Austin has been working closely with the University of Texas’ Dell Medical School and Austin-Travis County’s Emergency Medical Services on the project.
Seasoned blockchain researcher, Vlad Zamfir, claims to have created code for a successful proof-of-concept idea at Ethereum’s hackathon, EthBerlin. Zamfir worked with several other developers, including Tim Beiko and John Marlin, in creating code demonstrating how Ethereum shards could one day circulate on the blockchain. Sharding is an experimental scaling solution that alleviates the strain of a grown network by breaking the blockchain into smaller units, known as shards.
Brae browser, an open-source blockchain-powered browser developed by Mozilla co-founder Brendan Eich, has filed a privacy complaint in Ireland and Britain against Google. Brave’s complaint states that Google and the online advertising industry practice “wide-scale and systematic breaches of the data protection regime.”
Coinmarketcap may allow users to vote on what assets to track after Bitcoinist reported a scandal with exchange platform Binance involving extremely high listing fees and lack of adherence to decentralized principles. Coinmarketcap was also forced to remove South Korean crypto exchanges from price data after excessive volatility in local markets last January. Coinmarketcap may see user voting as a solution to these scandals.
Homero Joshua Garza, CEO of GAW Miners, was sentenced to 21 months in prison after defrauding investors, according to the Hartford Business. Garza received this sentence after pleading guilty to a wire fraud charge that related to the creation and sale of a scamcoin, PayCoin. The CEO of GAW Miners will be forced to pay USD$9.2 million in restitution to investors.
IBM announced Thursday that it has joined a decentralized cross-blockchain registry initiative, known as the, “Yellow Pages for Blockchain Projects.” The initiative, known as Unbounded Registry, is led by blockchain startup HACERA and aims to “provide a decentralized means to register, look up, join, and transact across a variety of blockchain solutions.” Other members of this initiative include some big players, like Huawei, Batavia, Hitachi, and the Australian Blockchain Association.
Initial Coin Offerings (ICOs) have sold three times as much Ethereum (ETH) in the past ten days as they did in the entire month of August, according to research by TrustNodes. Over USD$33 million of ETH tokens were sold, with more than half of that coming on September 4, which was followed by a sharp decline in crypto markets.
Large Japanese financial company, SBI Holdings, is preparing to launch a payments application for both iOS and Android that would be powered by Ripple’s distributed ledger technology. The application would enable customers to execute transactions 24-hours a day by using either a phone number or QR code, with the main goal being to eliminate time constraints associated with traditional banking methods.
Mike Novogratz, founder and CEO of crypto investment firm Galaxy Digital Capital Management, said in a tweet Thursday that he believes the crypto market has reached a bottom. In explaining his reasoning, Movogratz cited that yesterday, the market touched a low seen late in 2017 and immediately rallied. Novogratz believes the crypto market is retracing its breakout that caused the cryptocurrency boom in late 2017/early 2018.
Oak Ridge Institute for Science and Education fellow, Benjamin Trump, published a paper reviewing the state of cryptocurrency “forks” after investigating over 800 soft and hard forks from Bitcoin. The study suggests that stability in cryptocurrencies are hurt mainly by hard forks. Trump also argues that governance challenges seen in cryptocurrencies can have an effect on people’s trust in cryptocurrencies, hurting its capacity to serve as a reliable vehicle of exchange.
R3 hosted its annual gathering of the Corda platform community known as CordaCon 2018 in London over the past two days. The event saw a huge spike in demand from last year's registration numbers, seeing over 1,100 registrations in just two days. Corda runs Corda Marketplace, a ‘pseudo app store’ where users can discover new partners to help build decentralized applications on Corda’s blockchain.
Robinhood, the low-cost investing app that is popular with millennials, sells users’ data to other financial companies, according to their 2nd quarter SEC filing. The SEC filing reveals that Robinhood profits millions from selling its users’ data to high-frequency trading firms. A report on Seeking Alpha goes on to suggest that Robinhood’s sale of customer data may be a conflict of interest and bad for its customers.
A study conducted by Coin Telegraph reveals that Bitcoin mining energy consumption is not as intensive in summer months compared to the rest of the year. The study attributes more expensive electricity costs in summer months as the reasoning for crypto mining seeing less energy consumption growth over that same time-period. Bitcoin’s Proof of Work validation process has faced criticism in the past, as Bitcoin mining uses about as much electricity as country’s like New Zealand and Columbia.
Sonny Singh, Chief Commercial Officer of crypto payments processor, BitPay, said in an interview with Bloomberg Wednesday that he believes altcoins will never come back while Bitcoin will see a rebound in 2019. Singh believes cryptocurrency markets are at a point where they need a ‘defining moment’ to breakout, and that defining moment will be when large institutions like Goldman Sachs and Morgan Stanley truly get involved with cryptocurrencies.
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