Day: July 28, 2017

The Hyperledger blockchain consortium has grown its ranks again, with the addition of 10 new members.

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The cryptocurrency revolution has introduced a disruptive method of fundraising in the form of Initial Coin/Token Offering (ICO or ITO). The ICOs, in many cases, have been more efficient than conventional fundraising methods like the angel or VC investments. In the recent months, there have been highly successful ICOs that raised hundreds of millions of … Continue reading 300 Token Finishes Successful ICO, Keeps Its Promise to the Investors

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Stock Exchange Nasdaq Stockholm has imposed a fine of more than $120,000 to XBT Provider AB.

The Enterprise Ethereum Alliance (EEA), the world’s largest open-source Blockchain initiative, has recently added 34 new members expanding to a total of 150 organizations.

German chemical giant BASF has revealed it is investigating blockchain’s potential in tracking supply chains.

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As the Russian government works on the regulatory framework for digital currencies, a nationwide survey is published showing that only 28% of Russians have heard of bitcoin or other cryptocurrencies, and only 1% has any investment in them.

Also read: Russia’s Central Bank Drafting Proposal to Classify Bitcoins as Digital Goods

Cryptocurrency Survey by NAFI

The National Agency for Financial Studies (NAFI) published a study this week on Russia’s awareness of cryptocurrency based on a survey it conducted this month. NAFI is a leading research company in Russia that specializes in the financial behavior of the population and businesses. 1,600 Russian respondents aged 18 or older were interviewed at 140 sampling locations in 42 regions throughout the country.

“The Russians are not well informed about what a cryptocurrency is,” NAFI wrote, adding that only 28% of them are aware of cryptocurrency while 72% only heard about it for the first time during the interview. Within this group of respondents, 16% have heard of cryptocurrency but do not know anything about it, while 12% know it well. However, “not more than 1% of Russians have used a cryptocurrency,” the agency added.

Among those who are aware of cryptocurrency, about a third (34%) are interested in information and news on this topic. Most of them are men (40%), respondents with higher education (43%) and Russians under 35 (38%). Only 25% of women are interested in the topic. NAFI Project Manager Sergey Antonyan was quoted by EA Daily as saying:

Until now, cryptocurrencies remain exotic for the overwhelming majority of our compatriots – less than a third of respondents have heard about them…the wave of interest in cryptocurrencies does not decrease, and the attitude becomes more positive.

Of those who have heard of cryptocurrency, 31% believe it to be the money of the future while 47% thought that the overall trend is a fad.

Most Believe Bitcoin Should Not Be Banned

One of the questions in the survey was whether respondents think that bitcoin should be banned. In 2015 a similar survey was conducted and 40% of all respondents familiar with cryptocurrency believed that it should be, whereas 23% believed otherwise. Last year, only 20% called for banning bitcoin and 34% believed the opposite. This year, “almost half of Russians informed about the cryptocurrency believe that it is not necessary to prohibit bitcoin (48%),” NAFI wrote.

Meanwhile, the Russian government is quickly warming up to cryptocurrency, currently drafting a proposal to classify bitcoins as digital goods and is even preparing to legalize Initial Coin Offerings (ICOs).

What do you think of the results of this Russian survey? Let us know in the comments section below.

Images courtesy of Shutterstock and NAFI

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Kraken has issued a special warning to margin traders saying the Bitcoin fork could cause “extreme volatility.”

It is evident service providers accepting cryptocurrency payments are in a strange position. Not only is there Bitcoin Cash to worry about, but some companies effectively aim to support Litecoin. Lysergi, a company selling research chemicals and other products, recently introduced Litecoin support. According to the company, LTC provides many advantages over Bitcoin. They feel … Continue reading Lysergi Advises Customers to use Litecoin over Bitcoin Whenever Possible

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Chip maker AMD has seen its sales buoyed in recent months by big demand for graphics cards by cryptocurrency miners.

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Gemini, digital currency exchange based in New York, announced the launching of their daily Ether auctions. The company is hosting the said auction beginning July 28.

SEC’s recent decision to regulate ICOs was warmly accepted by CDC saying they were not surprised with the findings.

A new wave of blockchain-based securities could help propel forward the blockchain strategy of one of the largest US retailers.

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Bitcoin Cash has suffered major losses in the past 24 hours while Bitcoin has risen almost 7%.