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New WEF study reveals issues facing blockchain and crypto standards

A study conducted by the World Economic Forum and Global Blockchain Business Council reveals the reasons why the blockchain industry still lacks well-defined standards on the global level.Dubbed the Global Standards Mapping Initiative, the study notes that the gaps, divergence and overlap in the standard-setting landscape of the blockchain industry

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China Central Bank Official Reveals Results of First Digital Yuan Pilots

An official for China’s central bank has unveiled usage statistics of state-backed digital currency trials that were conducted in three Chinese cities.Speaking virtually at the Sibos 2020 conference on Monday, Fan Yifei, deputy governor of the People’s Bank of China, said the bank opened 113,300 consumer digital wallets and 8,859

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Polkadot reveals ‘initial parachain offerings’ to counter traditional IPOs

Much of the current blockchain ecosystem has been built around traditional concepts. Therefore, it’s not surprising to see crowdfunding mechanisms tailored specifically for blockchain projects that resemble initial public offerings. For example, in 2017, the blockchain space witnessed the rise of initial coin offerings, and while the ICO framework quickly attracted

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Federal Reserve Bank reveals details of digital dollar research

The President and CEO of the Federal Reserve Bank of Cleveland has revealed details of the Fed’s ongoing research into a potential digital dollar. Speaking in a keynote address on September 23, Loretta Mester emphasized that the Federal Reserve has been exploring central bank digital currencies (CBDC) since before the pandemic,

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FinCEN Reveals How BNY Mellon Processed $137M for OneCoin Ponzi Scheme

Within the framework of the OneCoin scheme, the transactions moved a total of $137 million to international bank accounts.Thousands of “suspicious activity reports” commonly referred to as SARs and other U.S, government documents that were leaked by an investigative media outlet, BuzzFeed news, indicate that in February 2017, the Bank

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