Greece opens Russian cybercrime suspect’s extradition case

  • Russian cybercrime suspect Alexander Vinnik, who is wanted in the United States in a $4 billion bitcoin fraud case, denied the charges against him Friday during an appearance in a Greek court to fight an extradition request.
  • Vinnik, 37, was arrested while on vacation in Greece on July25 and detained pending the extradition hearing following a request from U.S. Attorney’s Office in the Northern District of California.
  • A panel of judges is expected to examine that request next week, which Vinnik’s lawyer has said he will not challenge.
  • Speaking during the hearing in the northern city of Thessaloniki, Vinnik told a panel of judges that he did not run the digital currency exchange, and said he had not transferred bitcoins.
  • The prosecutor requested the American extradition request be accepted and said there were indications Vinnik was guilty.

Greece opens Russian cybercrime suspect’s extradition case
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IBM far outranks Microsoft as blockchain industry leader, research says

  • Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to a study.
  • Big Blue has been making considerable steps forward with research and development projects aimed at broadening the scope of distributed ledger technology to include industries other than the financial services.
  • Last month it announced a partnership with Nestle, Unilever, Wal-Mart and other food giants to trace the movements of food and tackle contamination faster by using the technology.
  • According to research firm Juniper Research, the corporation is better positioned than competitor Microsoft as far as its blockchain credentials are concerned.
  • More than 40 percent of tech executives and leaders in the blockchain sector ranked IBM as top, with only 20 percent saying the same of Microsoft.

Blockchain technology is on the radar of a number of tech corporations – and IBM is leading the way, according to research.
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South Korea bans all new cryptocurrency sales

South Korea bans all new cryptocurrency sales - CNBC  #Crypto #BitCoin

  • South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings.
  • The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored.
  • It added Friday’s announcement doesn’t mean the government is accepting trading of virtual currencies as part of its financial system, and will continue to monitor markets to see additional regulations are needed.

South Korea’s financial regulator said the trading of virtual currencies needed to be tightly controlled.
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CryptocrackdownOnce a leader in virtual currencies, China turns against them

  • The government has, after all, declared an ambition to make China a leader in the blockchain technology that is integral to bitcoin.
  • Bitcoin had been in trouble in China since February, when the central bank, aiming to stem illicit capital flows, ordered exchanges to halt virtual-currency withdrawals until they could identify their customers.
  • The bitcoin price tumbled by 35% from its highs before the ICO ban to its low point, on news of the exchange closures.
  • For now, China’s bitcoin miners can continue excavating their digital ore.
  • China, in other words, might still be at the vanguard of the cryptocurrency world, but exercising the kind of leadership that bitcoin boosters least want to see.

BITCOIN and China always made odd bedfellows. Devotees of bitcoin love its independence from central authorities; in China the central authorities love their power. That they would accept a cryptocurrency that weakened their control over something as fundamental as the management of money seemed unlikely.
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Stocks mixed as GOP defends tax proposal [Video]

LIVE: #Bitcoin at the closing bell

  • Stocks mixed, trying to hold gains as the GOP and White House make the case for their tax reform plan.
  • Stocks in the red today include Pier 1 Imports as the retailer’s current quarter guidance missed the mark; Endo Pharmaceuticals as Goldman initiated coverage with a ‘sell’ rating and $7 price target; and Rite Aid, with shares of the drug-store chain sliding after it said same-store sales fell 3.4% and…
  • Stocks in the green today include Abbott Labs as the FDA approved its glucose monitoring system that does not require a fingertip blood sample; Blackberry on a surprise earnings profit and upbeat forecast; and Roku, with shares on the rise following its public debut for the maker of streaming devices….
  • Roku raised around $252 million in its IPO, valuing the company at nearly $2 billion.
  • Mike Conrad is the CEO of Zaycon—a company that brings fresh farm meat directly to consumers in parking lots across the US.

Stocks mixed, trying to hold gains as the GOP and White House make the case for their tax reform plan. Plus – the Russell 2000 hitting another all-time high, but here’s another big index that’s revving higher too – we have it.
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Is Blockchain Technology Really the Answer to Decentralized Storage?

Is #Blockchain Technology Really the Answer to Decentralized Storage?  (Coin Telegraph)

  • Nevertheless, several projects and companies insist on looking at Blockchain-based solutions for storage and, while there are clear cases of misguided enthusiasm when it comes to the use of Blockchain technology, there are some projects out there that are worth taking a look at.
  • When it comes to a mutualistic relation between Decentralized Ledger Technology (DLT) and data storage, the most common use case for the Blockchain is as an incentive layer.
  • This means that data isn’t stored on the Blockchain itself, but the network at hand is able to leverage the Blockchain as a ledger for automatic payments and/or for value exchange, enabling users to pay for storage or access to files.
  • While Filecoin and Storj focus on providing affordable cloud storage services, a project named Decent is currently working on a decentralized content sharing platform which allows users to upload and monetize/share their work (videos, music, ebooks, etc) without the need to rely on a centralized third party.
  • We are talking about Sigwo Technologies LLC, a company that focuses on providing dApps and consulting services for legacy businesses that want to integrate Blockchain technology for data storage and disaster recovery.

Blockchain is extraordinary technology, but may not be appropriate for storing large files, other data.
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Exclusive: Royal Bank of Canada Using Blockchain for U.S./Canada Payments-Executive

  • TORONTO — Royal Bank of Canada is experimenting with blockchain to help move payments between its U.S. and Canadian banks, one of the bank’s senior executives told Reuters on Thursday.
  • Martin Wildberger, RBC’s executive vice president for innovation and technology, said use of distributed ledger technology, or DLT, would improve the speed of payments, reduce complexity and lower costs.
  • The bank developed the system over the past six months at an RBC blockchain technology center in Toronto, deploying software developed by a cross-industry open-source blockchain consortium known as Hyperledger.
  • The technology was integrated into RBC’s existing systems several weeks ago as a “shadow” to RBC’s primary ledger, letting the bank monitor payments in real-time as they travel between the United States and Canada, he said.
  • “We wanted to set it up as a shadow ledger so that we can demonstrate our leadership in exploiting that technology while at the same time recognizing that the technology is still early in its adoption phase,” Wildberger said.

Royal Bank of Canada is experimenting with blockchain to help move payments between its U.S. and Canadian banks, one of the bank’s senior executives told Reuters on Thursday.
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