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Digital Currency and Blockchain Weekly Round-up – July 21st, 2017

US Congressman calls for stronger digital currency standards

Banning digital currencies such as bitcoin would not help in preventing financing of terrorism activities, a Republican member of the US House of Representatives said last week, CoinDesk reported. Speaking during a floor debate on the 2018 National Defense Authorization Act, Congressman Dana Rohrabacher said while digital currencies could potentially benefit society by offering new ways of fighting inflation and handling personal business obligations, they also pose a number of threats.

Bitcoin price skyrockets as BIP 91 locks-in

Bitcoin Improvement Proposal 91 (BIP 91) has now locked in with over 90 percent of all hash power signaling their support. James Hilliard proposed BIP 91 as a way to implement SegWit quickly and safely, without the risk of a network split. Bitcoin price skyrocketed to 2938 levels (Bitstamp) on Thursday amid reports of BIP 91 locking in. It is currently trading at 2773 levels at the time of writing.

Hackers exploit bug to steal $30M in ether from Parity multisig wallet

Parity, a UK-based VC backed company founded by Ethereum co-founder Dr. Gavin Wood, on Wednesday issued a security alert stating that it has identified a vulnerability in Parity Wallet's variant of the standard multi-sig contract. 150,000 ETH (approximately $30 million) have been stolen so far, CoinDesk reported. The vulnerability was mitigated and white hackers were able to recover 377,000 ethers that were potentially vulnerable to the problem.

Crypto-based social trading platform CoinDash loses $7M to hackers, terminates token sale

CoinDash, a startup aiming to build a social trading platform for crypto-markets, has announced that it lost $7 million in a hacking attack during its token sale event. The token sale started on July 17 at 13:00PM GMT and was scheduled to end on August 17th, 2017 or earlier should the $12 million hard cap be reached. The startup said that it had secured $6.4 million from early contributors and whitelist participants. In total, CoinDash raised $7.53 million before the hack took place, CoinDesk reported.

National Bank of Belarus creates blockchain-based information network

The National Bank of Belarus has announced the creation of an information network based on blockchain technology, which could be used for modern banking and non-banking tasks. In its official release, the central bank said that in the first stage, the blockchain network will be implemented in the country’s banking system. Any bank or non-bank financial institution of the Republic of Belarus can become the owner of the certifying node of the blockchain network. The central bank’s settlement center will determine the administrator of the blockchain network in the banking system, as translated by Booktable.

Research studies:

Blockchain application could lead to per-year cost savings $50-60 Bln in capital markets: BIS Research

Events/Conferences/Hackathons:

Dubai Future Accelerators to focus on blockchain and AI in third program, opens applications

Funding/Investments:

Polish blockchain firm Billon receives €2M EU grant

Overstock subsidiary Medici Ventures invests in blockchain startup Symbiont

Blockchain startup ArabianChain secures $817k in new funding

Consortium News, Partnerships and More:

Indian state government and 33 other organisations join Enterprise Ethereum Alliance

Blockchain startup Ripple’s XRP Ledger ecosystem expands to 55 validator nodes

Indian IT industry body NASSCOM announces blockchain special interest group

TD Bank Group joins Chamber of Digital Commerce to promote adoption of blockchain technology

Blockchain identity startup Civic announces strategic partners

Online bank Swissquote adds bitcoin trading support with Bitstamp partnership

Digital Currency and Blockchain Initiatives:

London Stock Exchange Group tests blockchain for securities data management

Humaniq to launch blockchain-powered financial inclusion app-lite at Rise Accelerator

Bitfury launches open source enterprise-grade blockchain framework ‘Exonum’

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

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