What’s at stake?
This new wave of development offers an opportunity to correct course. However, if organizations in a rush to act first don’t learn from the past, the technology faces several existential threats:
Risks to users.
The world has learned the hard way that bottom-line protections for users need to be considered at the outset of product design, especially when it comes to data. Blockchain’s properties as a foundational technology make these considerations particularly important, given the harm and follow-on effects that can come from potential breaches.
Potential for transformational change can be undermined.
Those with sophisticated knowledge may have the opportunity to exploit their advantages – whether to intentionally harm consumers or to suppress the market through anti-competitive actions. This behavior weakens the very premise of decentralization, which was initiated to provide censorship-resistance, privacy and a level playing field for entrants.
Widening existing gaps.
Transformation is most likely to happen in places that can leapfrog, like high-growth economies. Despite talk of the potential for financial inclusion, if not designed carefully, blockchain can lead to the further exclusion and exploitation of vulnerable populations.
This new wave of development offers an opportunity to correct course. However, if organizations in a rush to act first don’t learn from the past, the technology faces several existential threats:
Risks to users.
The world has learned the hard way that bottom-line protections for users need to be considered at the outset of product design, especially when it comes to data. Blockchain’s properties as a foundational technology make these considerations particularly important, given the harm and follow-on effects that can come from potential breaches.
Potential for transformational change can be undermined.
Those with sophisticated knowledge may have the opportunity to exploit their advantages – whether to intentionally harm consumers or to suppress the market through anti-competitive actions. This behavior weakens the very premise of decentralization, which was initiated to provide censorship-resistance, privacy and a level playing field for entrants.
Widening existing gaps.
Transformation is most likely to happen in places that can leapfrog, like high-growth economies. Despite talk of the potential for financial inclusion, if not designed carefully, blockchain can lead to the further exclusion and exploitation of vulnerable populations.
Crypto Today: Bitcoin, Ethereum and Ripple meet the ultimate resistance
Here's what you need to know on
Markets:
BTC/USD pair is exchanging hands at $9,765 after a bearish Asian session on Monday. There was a struggle over the weekend to break that barrier at $10,000. However, increased volatility levels and the demoralized bulls saw Bitcoin price fall to levels under $9,600. An intraday low of $9,591 has been hit on the day followed by a minor recovery falling short of the resistance at $9,800.
The ETH/USD pair closed the week above $275, which was a positive gesture as many analysts had predicted a smooth sail towards $300. Unfortunately, the ride above $280 remained a pipe dream as Ethereum price plunged to $266.01 (intraday low). At the time of writing, Ethereum is trading at $268 after losing 2.56% of its value on the day.
XRP/USD, on the other hand, is teetering 3.61% lower on Monday. Attempts to advance towards $0.30 failed short of $0.28. An intraday high of $0.2851 marked the end of the journey north. Meanwhile, support at $0.27 remains intact with sideways trading in the range between $0.27 and $0.28 likely to take over.
Among the top 100 cryptocurrencies the worst hit coins include Ethereum Classic $9.41 (-4.07), EOS $4.23 (3.84%), NEO $13.86 (-3.57%), Litecoin 76.66 (3.94%), Bitcoin Cash $390.05 (3.26%), Monero $83.02 (-2.89%) and Bitcoin Gold $10.26 (-2.2%).
Here's what you need to know on
Markets:
BTC/USD pair is exchanging hands at $9,765 after a bearish Asian session on Monday. There was a struggle over the weekend to break that barrier at $10,000. However, increased volatility levels and the demoralized bulls saw Bitcoin price fall to levels under $9,600. An intraday low of $9,591 has been hit on the day followed by a minor recovery falling short of the resistance at $9,800.
The ETH/USD pair closed the week above $275, which was a positive gesture as many analysts had predicted a smooth sail towards $300. Unfortunately, the ride above $280 remained a pipe dream as Ethereum price plunged to $266.01 (intraday low). At the time of writing, Ethereum is trading at $268 after losing 2.56% of its value on the day.
XRP/USD, on the other hand, is teetering 3.61% lower on Monday. Attempts to advance towards $0.30 failed short of $0.28. An intraday high of $0.2851 marked the end of the journey north. Meanwhile, support at $0.27 remains intact with sideways trading in the range between $0.27 and $0.28 likely to take over.
Among the top 100 cryptocurrencies the worst hit coins include Ethereum Classic $9.41 (-4.07), EOS $4.23 (3.84%), NEO $13.86 (-3.57%), Litecoin 76.66 (3.94%), Bitcoin Cash $390.05 (3.26%), Monero $83.02 (-2.89%) and Bitcoin Gold $10.26 (-2.2%).
The number of crypto ATMs across the globe has grown to over 7,000, with machines in 75 countries.
At press time, CoinATMRadar listed 7,014 cryptocurrency ATMs in existence. This number also includes machines hosting digital currencies other than Bitcoin (BTC), including assets such as Bitcoin Cash (BCH), Ether (ETH), Dash (DASH) and Litecoin (LTC).
Crypto ATMs have come a long way
The world saw its first Bitcoin ATM in 2013, when a company called Robocoin placed a machine in a Vancouver coffee shop. Allowing customers to trade Bitcoin for cash, and vice versa, the machine saw $10,000 in BTC transacted on its launch day.
At present, 42 different manufacturers are responsible for the 7,000 global crypto ATMs. Only two locations host Robocoin ATMs, CoinATMRadar data showed. Genesis Coin sits in the lead with machines in 2,348 locations.
At press time, CoinATMRadar listed 7,014 cryptocurrency ATMs in existence. This number also includes machines hosting digital currencies other than Bitcoin (BTC), including assets such as Bitcoin Cash (BCH), Ether (ETH), Dash (DASH) and Litecoin (LTC).
Crypto ATMs have come a long way
The world saw its first Bitcoin ATM in 2013, when a company called Robocoin placed a machine in a Vancouver coffee shop. Allowing customers to trade Bitcoin for cash, and vice versa, the machine saw $10,000 in BTC transacted on its launch day.
At present, 42 different manufacturers are responsible for the 7,000 global crypto ATMs. Only two locations host Robocoin ATMs, CoinATMRadar data showed. Genesis Coin sits in the lead with machines in 2,348 locations.
The cryptocurrency market continues to dump on the third day in a row. However, there is some semblance of calm across the board. The total market capitalization according to the data by CoinMarketCap has dropped from $228 billion (posted on Monday) to $225 billion at the time of writing. The reported volume has increased also tanked from $174 billion to $149 billion in the same period.
BTC/USD recovered from the extended lower leg which touched $7,650. Unfortunately, the bulls lost their mojo above $7,900 leaving $8,000 unconquered. Bitcoin price currently dances at $7,881 after losing 0.65% of its value on the day. The trend remains bearish but the shrinking volatility suggests that losses could be limited in the near term.
BTC/USD recovered from the extended lower leg which touched $7,650. Unfortunately, the bulls lost their mojo above $7,900 leaving $8,000 unconquered. Bitcoin price currently dances at $7,881 after losing 0.65% of its value on the day. The trend remains bearish but the shrinking volatility suggests that losses could be limited in the near term.
Blockchain forensics firm CipherTrace has published a detailed analysis of how two Chinese nationals, linked to North Korea, laundered tens of millions of dollars worth of stolen cryptocurrency.
The pair are believed to be associated with the shadowy Lazarus Group, which was behind the Sony breach in 2014, the WannaCry ransomware epidemic in 2017, and a $7 million attack on Bithumb (also in 2017).
They used ‘peel chains’ to hide the size of deposits to avoid unwanted attention, and doctored photographs to fool KYC verification processes, among other tricks.
On March 2, the United States Treasury’s Office of Foreign Assets Control (OFAC) added Tian Yinyin and Li Jiadong to its list of sanctioned individuals and entities for their involvement in laundering crypto assets stolen from an unnamed South Korean exchange in 2018. The pair have been charged with money laundering conspiracy and operating an unlicensed money transmitting business.
$234 million worth of crypto assets was stolen from the exchange — including 218,800 Ether worth $141 million, 10,800 Bitcoin worth $95 million, and between half a million and $3.2 million worth of Ethereum Classic, Ripple, Litecoin, Zcash, and Dogecoin.
The pair are believed to be associated with the shadowy Lazarus Group, which was behind the Sony breach in 2014, the WannaCry ransomware epidemic in 2017, and a $7 million attack on Bithumb (also in 2017).
They used ‘peel chains’ to hide the size of deposits to avoid unwanted attention, and doctored photographs to fool KYC verification processes, among other tricks.
On March 2, the United States Treasury’s Office of Foreign Assets Control (OFAC) added Tian Yinyin and Li Jiadong to its list of sanctioned individuals and entities for their involvement in laundering crypto assets stolen from an unnamed South Korean exchange in 2018. The pair have been charged with money laundering conspiracy and operating an unlicensed money transmitting business.
$234 million worth of crypto assets was stolen from the exchange — including 218,800 Ether worth $141 million, 10,800 Bitcoin worth $95 million, and between half a million and $3.2 million worth of Ethereum Classic, Ripple, Litecoin, Zcash, and Dogecoin.
Bitcoin (BTC) recovered slightly from Thursday’s brutal selloff as global financial markets creep back into the green.
After dipping below $4,000, the world’s leading cryptocurrency posted some gains and is currently trading at $5,431 as of 20:00 UTC Friday. While bitcoin is still down 15 percent over the last 24 hours, traders started buying after it hit a 12-month low of $3,855 around 02:00 UTC on Coinbase.
On the one hand, the timing of the turnaround supports the notion that bitcoin is more correlated with traditional markets than its advocates have long believed.
After dipping below $4,000, the world’s leading cryptocurrency posted some gains and is currently trading at $5,431 as of 20:00 UTC Friday. While bitcoin is still down 15 percent over the last 24 hours, traders started buying after it hit a 12-month low of $3,855 around 02:00 UTC on Coinbase.
On the one hand, the timing of the turnaround supports the notion that bitcoin is more correlated with traditional markets than its advocates have long believed.
A new report has found strict regulations in Japan are likely to benefit new players in the long term.
Double jump.tokyo, the game developer behind My Crypto Heroes, introduced So & Sato, a Japan-based law firm specializing in crypto and blockchain, to Cointelegraph Japan.
On March 31, the law firm released a report covering all aspects of digital assets in the Asian nation, from tokenized securities to crypto derivatives.
Double jump.tokyo, the game developer behind My Crypto Heroes, introduced So & Sato, a Japan-based law firm specializing in crypto and blockchain, to Cointelegraph Japan.
On March 31, the law firm released a report covering all aspects of digital assets in the Asian nation, from tokenized securities to crypto derivatives.