American Express Gives Loyalty Program a Blockchain Upgrade

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. American Express has deployed Hyperledger’s blockchain technology to make its Membership Rewards program more versatile, marking the first application of blockchain technology to a major U.S. financial services loyalty program. Under the revamped program, merchants will be able to create Membership Rewards offers on their own platforms to engage customers and at the same time offer card members more opportunities to earn points. Rewards On Select Products American Express is partnering with Boxed, an online wholesale retailer,…

German Bank and Steel Conglomerate Execute Forex Transaction via Blockchain

German bank Commerzbank and steel company Thyssenkrupp have completed a €500,000 pilot transaction of a forex (FX) forward on a blockchain, reported Cointelegraph auf Deutsch May 24. The EUR/PLN forward deal worth €500,000 with a one month tenor was initiated by Thyssenkrupp on the Commerzbank’s FX Live Trader platform on Wednesday. The transaction was then confirmed directly through Corda, a distributed ledger technology (DLT) of the R3 blockchain consortium. The use of blockchain technology, which underpins the Bitcoin virtual currency, could help reduce delays and manual errors, as well as…

More Americans Will Turn to Crypto If Fed Relaxes Post-2008 Measures, Analysts Say

More Americans may move away from traditional finance and into crypto if the the U.S. Federal Reserve (Fed) relaxes post-2008 financial regulations, according to a study published by Weiss Ratings May 22. The Fed is set to meet on May 30 to consider watering down the “Volcker Rule,” in what would be a major deregulatory move. The relaxing of the “Volcker Rule” would allow thousands of banks to make high risk profit-seeking trades with less government oversight. If the Fed’s plans go ahead, increased systemic financial risk could well push…

Mining Malware Continues To Dominate Cybersecurity Threats By Seeking Out New Vulnerabilities

Mining malware may now be painfully familiar to anyone with even a passing awareness of cryptocurrency, but so far businesses and consumers alike are failing to significantly curb its growing threat. On May 14, Israeli cybersecurity firm Check Point released its latest Global Threat Index, and for the fifth consecutive month it found that the Coinhive crypto-miner is the “most prevalent malware” in the world, affecting 16 percent of organizations globally. Meanwhile, Santa Clara-based Malwarebytes released its Cybercrime tactics and techniques: Q1 2018 report on April 9, finding that businesses…

ed | Blockchain and GDPR: Europe’s Moral Torc

Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. This op-ed on GDPR and blockchain was written by Robert Chu — CEO of Embleema, the patient-driven healthcare blockchain, and Former SVP at IMS Health (Now IQVIA) — and Alexis Normand, former Head of B2B of Nokia Digital Health Internet privacy advocates are surely disappointed by Mark Zuckerberg’s mid-April performance in front of the US Senate. After Cambridge Analytica misused 87 Million Facebook users’ accounts for political purposes, the young billionaire demonstrated that Internet platforms do not…

Russian Central Bank to Pilot First Official ICO

Russian bank Sberbank CIB and the National Settlement Depository (NRD) will pilot the country’s first official Initial Coin Offering (ICO) using the Bank of Russia’s regulatory sandbox, ForkLog reports today, May 24. Sberbank CIB, the investment banking arm of major state-owned bank Sberbank, and NRD, which is part of the Moscow Stock Exchange Group, are now finalizing plans with the central bank to launch the project by the end of summer 2018. Sberbank CIB’s head Igor Bulantsev said that the bank considers the Russian ICO market to be “highly promising,”…

Poland Continues Its Aggression Towards Crypto, But the Community Shows Force

On May 10, Polish Financial Supervision Authority (KNF) held a tender order of 615,000 zloty (around $170,000) to plan and conduct a social media campaign that will focus on the risks associated with cryptocurrencies, pyramid schemes, and forex trading. That sum is hardly impressive, but represents another gesture against crypto by the conservative Polish government, which has already admitted to its investments in FUD media activities in February. Nevertheless, the local crypto community has stood up for itself in an educational response. Winter disclosures Poland officially recognizes trading and mining…

Barcelona to Create Blockchain Center in City’s Tech Hub

Barcelona Tech City will create a specialized space for blockchain technology development, local news outlet La Vanguardia reports today, May 24. The blockchain space will consist of a second building near to Pier01, the headquarters of Barcelona Tech City that opened in summer 2016, and will most likely be occupied by Spanish blockchain network Alastria, according to unnamed sources. Pier01 currently houses 1,000 professionals from tech startups and innovation hubs as part of the city’s digital ecosystem in the reconverted Palau de Mar. La Vanguardia writes that the different buildings…

Cryptocurrency Market Manipulation | US Launches Criminal Investigation

Bitcoin Cash price (BCH) slid below the $1,000 level today as US regulators launched a criminal investigation against illegalities and cryptocurrency market manipulation activities. The total cryptocurrency market cap tumbled below $320 billion as the majority of coins are falling at high mid-single digit rate for the second consecutive day. Bitcoin Cash price is the second biggest loser in the top ten coins. Ethereum leads the selloff in cryptocurrency market; ETH coin dipped 10% early today to $557, the lowest level in the last month. Cryptocurrency Market Manipulation Probe Regulators…

Diamond Industry Giants Partner With Blockchain Startup to Tokenize Gems

Two leading diamond industry players have agreed to work with blockchain startup D1 Mint Limited to tokenize diamonds, according to a press release shared with Cointelegraph. D1 Mint Limited, the creator of the diamond-backed crypto asset D1 Coin, has signed its first purchase agreement to buy 1,500 investment-grade diamonds, worth $20 mln, from global veteran KGK Diamonds. The raw diamonds were supplied by the largest diamond mining company in the world, Alrosa. Alexei Chekunkov, a member of Alrosa’s Board of Directors, said the company believes that the innovation of blockchain can…