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Swarm City – a Decentralized Commerce Platform

swarm city logoSwarm City is a decentralized, peer to peer commerce platform on the Ethereum network. Swarm City removes third parties from transaction and enables complete peer to peer commerce – without banks, without credit card gateways, and without third parties such as Uber, Airbnb and many more organizations, that practically do very little, but usually take a big chunk of the transaction as a fee for their “service”. A part that Swarm City plans to eliminate, enabling the transaction between two parties in a safe and trusted way, without any third party. What purpose does the SWT – token serve? For

swarm city logo

Swarm City is a decentralized, peer to peer commerce platform on the Ethereum network. Swarm City removes third parties from transaction and enables complete peer to peer commerce – without banks, without credit card gateways, and without third parties such as Uber, Airbnb and many more organizations, that practically do very little, but usually take a big chunk of the transaction as a fee for their “service”. A part that Swarm City plans to eliminate, enabling the transaction between two parties in a safe and trusted way, without any third party.

What purpose does the SWT – token serve?

For all payments on Swarm City platform, Swarm City Token will be used. If more people start to use Swarm City, the price of the token SWT will raise. It’s like having a share of the company in the early days, and not only making profit off selling your services to others on the platform, but also having your Swarm City Tokens appreciate in value, if the platform gets adapted.

What is a third party?

In order to understand how Swarm City works, you have to know what a third party is. For example, before the era of Cryptocurrencies, if you wanted to transact money, you needed
a third,trusted party – for example a bank, that will discredit you and accredit the money to the receiving party. But platforms like Ethereum network play the role and can completely remove the third, trusted party. The Ethereum Network (decentralized and distributed network of computers) that is backed and secured by cryptography and mathematics, guarantees peer to peer transactions and completely removes the need of a third party, because it does it’s job and it does it much cheaper – for just a fraction of the price, measured and known as gas fee.

Swarm City vs Uber

When you order a ride using Uber, there are two unnecessary third parties that will each take their commission for their service. Those commissions are often unfair as these centralized organisations have control over the majority of the marketplace and have great monopol. The two third parties in the process of ordering an Uber are your credit card provider and Uber themself.

When you pay for Uber, the credit card provider will take their commission for enabling the transaction, and then Uber will also take their commission off the transaction for offering the app and matching you to the driver. Average Uber commission is as high as 40%. This means you could get your rideshare for even 40% cheaper. Unnecessary third parties take too big commissions for doing too little, and this is what Swarm City could eliminate – third parties, giving wealth to the community!

What will Swarm City do?

Swarm City will be a platform that will enable complete p2p commerce transactions, without having to rely on a third, trusted party.
The development of Swarm City is divided into 3 stages:

Terminal

Terminal is the front interface, where users create their profile using a username, password and picture. Inside the terminal, users have ability to one of the key points of swarm city – to send and receive Swarm City Tokens (SWT) between each others.

Boardwalk

With Boardwalk users can create a request for whichever service it is they require, such as ridesharing. For that example, user would create a request on hashtag #needaride and complete the sale with the service provider in the Terminal – transact and finish the transaction by paying to the service provider.
Hashtags are marketplaces on the Swarm City platform. For food delivery, one could create hashtag #fooddelivery , where people would find a food delivery and transact between each other. Anyone can create a hashtag and maintain it. You can set up a fixed fee per each transaction on your hashtag, but then it’s on you to maintain the hashtag. The reputation is isolated between the hashtags and for every successful transaction, you will gain positive reputation on that hashtag marketplace

Storefront

Storefront will be a graphical user interface, enabling users to request or offer a service with ease

Which services could Swarm City replace and it’s potential?

Swarm City could, if it works out and gets adapted, replace many services, such as Uber, Airbnb, other ridesharing apps and much more in many other areas such as freelancing. The possibilities truly are endless. You could make a hashtag #walkmydog, where people could hire others to walk their dogs, another hashtag if you are looking for someone to mow your lawn, do your laundry, clean or service your car, do the gardening work, design you a website, do graphics design, clean your pool, deliver a takeaway, sell you homegrown food, rent an apartment,… Your imagination is the only limitation to the number of areas it could provide it’s service in.

Transition from Arcade City to Swarm City

The team decided to part ways due to the problems with the owner of the Arcade City company CEO. So they forked Arcade City into Swarm city, and all owners of Arcade City could swap their tokens at 1:1 ratio for Swarm City Token. It was done because the former CEO had a shady past and the team found a new leader and created a new brand – Swarm City

Parity hack. Funding lost. Community stronger than before. Development continues!

Swarm City originally raised around 77.000 Ether during their Initial coin offering in November 2016. The money raised at that time was around 700.000$, but due to the Ether price increasing rapidly, it was worth as much as nearly 20M$ at some point. Unfortunately as the 19th of July came, Swarm City funding(Ethereum) was stolen – their wallet was drained. They were using parity multisig wallet, which was kind of a standard and was originally created by the creator of Solidity(language that the decentralized apps on Ethereum are coded in) and was used by many other crypto projects. Anyways the Swarm City team and developers, didn’t do anything wrong, it was not their fault, they were just one of the unlucky teams as their whole Ethereum wallet meant for funding of the development was drained by the hacker and around 10m$ of Ether was stolen. Irregardless, the team has decided to continue the development and promised to release a fully working platform as planned. They hold SWT themself and believe in the project, doing everything they can for it to succeed. Will Swarm City overcome all the obstacles and become the next big thing? Time will tell.

Website
http://swarm.city/
Slack
https://slackinvite.swarm.city/
Medium – more info
http://press.swarm.city/

This was written for our site Satoshi Bakery, if you liked the review, please upvote on steemit: https://steemit.com/cryptocurrency/@satoshibakery/what-is-swarm-city-token-swt-review-insight-and-potential and you can also visit the faucet on https://satoshibakery.com/SWT-faucet.php
The Swarm City Tokens Faucet is not active yet at the time of this post, but should be around the end of the August. You can already claim the tokens, but they will not be paid out until then.

Disclaimer: This is a sponsored press release and does not necessarily reflect the opinions of any The Merkle employees. This is not investment or trading advice, always do your own independent research.

Jon Matonis Joins First Global Credit’s AICoin ICO Investment Board

Jon Matonis, the founding member of Bitcoin Foundation has recently been announced to be the part of First Global Credit’s AlCoin ICO startup investment board. AlCoin is the world’s first tokenized investment collective and the first passive investment project. AlCoin is not the token developed for crowdfunding of the start-ups. Rather, it is the unique … Continue reading Jon Matonis Joins First Global Credit’s AICoin ICO Investment Board

The post Jon Matonis Joins First Global Credit’s AICoin ICO Investment Board appeared first on NEWSBTC.

Jon Matonis, the founding member of Bitcoin Foundation has recently been announced to be the part of First Global Credit’s AlCoin ICO startup investment board. AlCoin is the world’s first tokenized investment collective and the first passive investment project. AlCoin is not the token developed for crowdfunding of the start-ups. Rather, it is the unique … Continue reading Jon Matonis Joins First Global Credit’s AICoin ICO Investment Board

The post Jon Matonis Joins First Global Credit’s AICoin ICO Investment Board appeared first on NEWSBTC.

Ethereum jumps 10% amid worries about bitcoin in a wild day for digital currencies – CNBC

CNBCEthereum jumps 10% amid worries about bitcoin in a wild day for digital currenciesCNBCDigital currency ethereum hit a nearly two-month high Monday, briefly notching 70 percent gains for the month. Bitcoin traded about 1 percent lower, holding gains…


CNBC

Ethereum jumps 10% amid worries about bitcoin in a wild day for digital currencies
CNBC
Digital currency ethereum hit a nearly two-month high Monday, briefly notching 70 percent gains for the month. Bitcoin traded about 1 percent lower, holding gains of about 40 percent for the month despite renewed uncertainty about a potential split in ...
Bitcoin cash is crashingBusiness Insider
Bitcoin Cash Wins Mining Power as Price Falls Back Below $600CoinDesk
Should You Buy Gold Or Bitcoin?Investopedia
MarketWatch -Business Insider UK -CoinTelegraph -Coin Market Cap
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Exchanges Might Not Meet All AML & KYC Requirements But Neither Do Banks

An investigation led by Australian Transaction Reports and Analysis Centre (AUSTRAC) to one of Australia’s major banks, Commonwealth Bank of Australia (CBA), has revealed the deficiencies of the country’s banks in terms of compliance with the know-your-customer (KYC) and anti-money laundering (AML) requirements of the law.

An investigation led by Australian Transaction Reports and Analysis Centre (AUSTRAC) to one of Australia’s major banks, Commonwealth Bank of Australia (CBA), has revealed the deficiencies of the country’s banks in terms of compliance with the know-your-customer (KYC) and anti-money laundering (AML) requirements of the law.

Major Japanese Ticket Exchange Marketplace Now Accepts Bitcoin – CoinTelegraph

CoinTelegraphMajor Japanese Ticket Exchange Marketplace Now Accepts BitcoinCoinTelegraphMajor Japanese customer-to-customer ticket exchange marketplace, Ticket Camp, has announced that it is already accepting the digital currency Bitcoin as a form of p…


CoinTelegraph

Major Japanese Ticket Exchange Marketplace Now Accepts Bitcoin
CoinTelegraph
Major Japanese customer-to-customer ticket exchange marketplace, Ticket Camp, has announced that it is already accepting the digital currency Bitcoin as a form of payment. The move is a major boost to the cryptocurrency as the exchange has about five ...
Bitcoin Keeps Gaining Ground in Japan as Largest Ticket Exchange Marketplace Accepts BTCnewsBTC

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AMD Releases Beta Graphics Driver for Better Cryptocurrency Mining

AMD miner

A few days ago, AMD released the “Radeon Software Crimson ReLive Edition Beta for Blockchain Compute” driver. According to the release notes on the tech giant’s website, the software optimizes the performance for “Blockchain Compute Workloads,” thereby boosting the efficiency of cryptocurrency mining rigs that are using a GPU for mining (eg., Ethereum mining rigs).

Currently, the graphics driver can be downloaded from AMD’s official website. The beta software supports desktop GPUs from AMD Radeon HD 7700, and it can be installed on 64-bit Windows 7 (Service Pack 1 or higher required) and 64-bit Windows 10 systems. AMD highlighted in the release notes that the graphics driver is not intended to boost users’ gaming performance. The company added that since this is a beta software, it will not be “supported with further updates, upgrades or bug fixes.”

AMD’s new beta driver is designed to fix an issue related to the DAG (directed acyclic graph) size. As the number of blocks in the Ethereum blockchain increases (taking roughly 14 seconds to generate a block), so does Ethereum’s epoch (a 100-hour window). For every epoch, or 30,000 blocks, a DAG is generated. As the DAG size grows, the memory requirements for mining Ethereum increase. Since the memory footprint of the workload is increasing, it will, at a certain time, overflow from the graphics card’s memory and will be stored in the main system memory. The main system memory is much slower than accessing the GPU’s VRAM. If a mining rig is slower to access the memory, it will result in performance penalties concerning the miners’ hashrate.

AMD’s new beta driver appears to have fixed the DAG issue. According to TechPowerUp, there is only a minimal difference between mining different DAG sizes with the beta software. Compared to the old driver, the AMD Radeon RX Vega 64 8GB (1546 MHz/945 MHz) experienced an 81 percent increase in the hashrate mining DAG 199.

The Reddit community has also confirmed that AMD’s new update is resulting in greater hashrates for their GPUs.

“My RX Vega went from 31 to 37Mh/s mining ETH only. Very nice improvement,” wrote a user named “Hot-Diggity-Daffodil.”

“Just got these new drivers installed on one of my 6 gpu rigs. MSI RX 580 8GBs confirmed back up to 29.5 from 27.5. Installing on other rigs now. Using BBT modded ROMs,” another user called “TheHansGruber” wrote in the /r/EtherMining subreddit.

AMD’s beta driver will boost the performance of Ethereum mining rigs for a while. However, if Ethereum evolves from proof of work to proof of stake, with a first step toward this model expected on November 1, GPUs will be less needed over time. At the instance of proof of stake, the mining is based on coin ownership rather than hash power.

The post AMD Releases Beta Graphics Driver for Better Cryptocurrency Mining appeared first on Bitcoin Magazine.

AMD miner

A few days ago, AMD released the “Radeon Software Crimson ReLive Edition Beta for Blockchain Compute” driver. According to the release notes on the tech giant’s website, the software optimizes the performance for “Blockchain Compute Workloads,” thereby boosting the efficiency of cryptocurrency mining rigs that are using a GPU for mining (eg., Ethereum mining rigs).

Currently, the graphics driver can be downloaded from AMD’s official website. The beta software supports desktop GPUs from AMD Radeon HD 7700, and it can be installed on 64-bit Windows 7 (Service Pack 1 or higher required) and 64-bit Windows 10 systems. AMD highlighted in the release notes that the graphics driver is not intended to boost users’ gaming performance. The company added that since this is a beta software, it will not be “supported with further updates, upgrades or bug fixes.”

AMD’s new beta driver is designed to fix an issue related to the DAG (directed acyclic graph) size. As the number of blocks in the Ethereum blockchain increases (taking roughly 14 seconds to generate a block), so does Ethereum’s epoch (a 100-hour window). For every epoch, or 30,000 blocks, a DAG is generated. As the DAG size grows, the memory requirements for mining Ethereum increase. Since the memory footprint of the workload is increasing, it will, at a certain time, overflow from the graphics card’s memory and will be stored in the main system memory. The main system memory is much slower than accessing the GPU’s VRAM. If a mining rig is slower to access the memory, it will result in performance penalties concerning the miners’ hashrate.

AMD’s new beta driver appears to have fixed the DAG issue. According to TechPowerUp, there is only a minimal difference between mining different DAG sizes with the beta software. Compared to the old driver, the AMD Radeon RX Vega 64 8GB (1546 MHz/945 MHz) experienced an 81 percent increase in the hashrate mining DAG 199.

The Reddit community has also confirmed that AMD’s new update is resulting in greater hashrates for their GPUs.

“My RX Vega went from 31 to 37Mh/s mining ETH only. Very nice improvement,” wrote a user named “Hot-Diggity-Daffodil.”

“Just got these new drivers installed on one of my 6 gpu rigs. MSI RX 580 8GBs confirmed back up to 29.5 from 27.5. Installing on other rigs now. Using BBT modded ROMs,” another user called “TheHansGruber” wrote in the /r/EtherMining subreddit.

AMD’s beta driver will boost the performance of Ethereum mining rigs for a while. However, if Ethereum evolves from proof of work to proof of stake, with a first step toward this model expected on November 1, GPUs will be less needed over time. At the instance of proof of stake, the mining is based on coin ownership rather than hash power.

The post AMD Releases Beta Graphics Driver for Better Cryptocurrency Mining appeared first on Bitcoin Magazine.

Major Japanese Ticket Exchange Marketplace Now Accepts Bitcoin

Major Japanese customer-to-customer ticket exchange marketplace, Ticket Camp, has announced that it is already accepting the digital currency Bitcoin as a form of payment.

Major Japanese customer-to-customer ticket exchange marketplace, Ticket Camp, has announced that it is already accepting the digital currency Bitcoin as a form of payment.

Ransomware is the Most Popular Malicious Email Attachment in Q2 2017

TheMerkle Ransmware Email AttachmentsReports on cybersecurity are always important to follow. Most people are well aware of different dangers lurking in the dark corners of the world wide web. Most emails delivering a malicious payload contain a ransomware strain. All of this shows global malware distribution is still a booming business and will continue to be for quite some time to come. Ransomware-laden Emails Only get More Common Computer users all over the world have many different threats to watch out for. Using lackluster security when surfing the web is no longer a viable option. Even though it never has been, to begin with,

TheMerkle Ransmware Email Attachments

Reports on cybersecurity are always important to follow. Most people are well aware of different dangers lurking in the dark corners of the world wide web. Most emails delivering a malicious payload contain a ransomware strain. All of this shows global malware distribution is still a booming business and will continue to be for quite some time to come.

Ransomware-laden Emails Only get More Common

Computer users all over the world have many different threats to watch out for. Using lackluster security when surfing the web is no longer a viable option. Even though it never has been, to begin with, the number of active threats trying to take advantage of user mistakes has never been higher. Ransomware and other types of malware are often successfully distributed due to computer users opening every random email and downloading the associated attachments. Educating people on the dangers still remains a struggle, though.

New reports from multiple security vendors indicate the ransomware threat will not go away easily. In fact, it is the most prevalent malware payload delivered via email messages throughout the second quarter of 2017. With criminals becoming more crafty in hiding their malicious payloads as well, there is very little email service providers can do to prevent these messages from getting through.

2017 has seen two major global ransomware outbreaks so far. On the one hand, we had the WannaCry attack, which infected hundreds of thousands of machines around the world in less than three days. Secondly, there was the NotPetya outbreak, which claimed many victims as well. Those two are the most commonly known ransomware types of this year, but criminals are distributing a handful of different strains in a successful manner over the six months of the year.

Some other popular ransomware distribution campaigns include Locky, Jaff, CryptoWall, Cerber, and TorrentLocker. All of these families have made some form of media headlines throughout the year and new variants are still being discovered. At the same time, for every known type of ransomware, there are at least five or six other lesser known copies which can still pose problems for a lot of computer users. It does show the main families are still quite popular among cybercriminals, which means some new offspring can be expected soon.

The main reason why so many different strains have been delivered successfully is because neither WannaCry nor NotPetya were distributed via email. Instead, they were both part of major attack originating from Ukraine. Jaff and Locky are two very serious ransomware contenders to keep an eye on, even though the distribution of Jaff has dried up since late April. Locky goes through ebbs and flows of distribution all year round, although it has become a bit more prevalent in May and June of 2017.

Last but not least, one report shows how the rise in malicious email attachments is quite spectacular. It went up by nearly 600% in the first half of 2017, despite the global email spam volume only growing by 3%. Delivering advertisements and pump-and-dump investment advice is no longer a lucrative business, by the look of things. Anyone in the world can create their own ransomware, thanks to the many RaaS services popping up all over the darknet. Rest assured we will see more ransomware for quite some time to come.

Solomon Exchange: SMNX ICO: Most exciting cryptocurrency Exchange ICO

We know how it feels to religiously search the market every single day to try and source a product or service, only to be constantly disappointed when you fail to find it. In this particular instance, have you been trying to seek out an ICO that allows you to buy and sell various cryptocurrencies in … Continue reading Solomon Exchange: SMNX ICO: Most exciting cryptocurrency Exchange ICO

The post Solomon Exchange: SMNX ICO: Most exciting cryptocurrency Exchange ICO appeared first on NEWSBTC.

We know how it feels to religiously search the market every single day to try and source a product or service, only to be constantly disappointed when you fail to find it. In this particular instance, have you been trying to seek out an ICO that allows you to buy and sell various cryptocurrencies in … Continue reading Solomon Exchange: SMNX ICO: Most exciting cryptocurrency Exchange ICO

The post Solomon Exchange: SMNX ICO: Most exciting cryptocurrency Exchange ICO appeared first on NEWSBTC.

Wall Street Keeps Valuing Bitcoin Higher and Higher – Fortune


Fortune

Wall Street Keeps Valuing Bitcoin Higher and Higher
Fortune
Bitcoin has been on a tear this year, more than tripling in value as it crossed the $4,000 mark and touched a record $4,477 last week. It’s since retreated about 7% from the high as investors took profit and assessed whether the rally had gone too far

and more »


Fortune

Wall Street Keeps Valuing Bitcoin Higher and Higher
Fortune
Bitcoin has been on a tear this year, more than tripling in value as it crossed the $4,000 mark and touched a record $4,477 last week. It's since retreated about 7% from the high as investors took profit and assessed whether the rally had gone too far ...

and more »

Bitcoin Cash Wins Mining Power as Price Falls Back Below $600 – CoinDesk


CoinDesk

Bitcoin Cash Wins Mining Power as Price Falls Back Below $600
CoinDesk
After the bitcoin cash blockchain experienced a major adjustment this weekend, the less than one-month-old cryptocurrency has seen a dramatic reduction in mining difficulty, and perhaps more crucially, an increase in its profitability for those
Bitcoin cash is crashingBusiness Insider
Bitcoin Cash Broke $1000: Where Will It Go Next?Investopedia
Bitcoin cash’ soars to record high above $900 as ‘mining’ profits jumpCNBC
CoinTelegraph –CryptoCoinsNews –Ethereum World News (blog) –Coin Market Cap
all 71 news articles »

CoinDesk

Bitcoin Cash Wins Mining Power as Price Falls Back Below $600
CoinDesk
After the bitcoin cash blockchain experienced a major adjustment this weekend, the less than one-month-old cryptocurrency has seen a dramatic reduction in mining difficulty, and perhaps more crucially, an increase in its profitability for those ...
Bitcoin cash is crashingBusiness Insider
Bitcoin Cash Broke $1000: Where Will It Go Next?Investopedia
'Bitcoin cash' soars to record high above $900 as 'mining' profits jumpCNBC
CoinTelegraph -CryptoCoinsNews -Ethereum World News (blog) -Coin Market Cap
all 71 news articles »

Cyber Command Is now Officially its Own Combat Command

TheMerkle_Cyber WarfareThe United States and many other countries around the world often engage in cyber attacks against business entities and geopolitical rivals. These clandestine operations range from barely noticeable to wholly disruptive. The US has been the victim of many attacks in recent memory, but our responses to them have been somewhat locked up in bureaucracy. President Trump announced recently that the US Cyber Command will be elevated to a Combat Command of its own. Let’s take a look at exactly what that means for the US. Cyber Command Is now Officially its Own Combat Command Elevating Cyber Command to a

TheMerkle_Cyber Warfare

The United States and many other countries around the world often engage in cyber attacks against business entities and geopolitical rivals. These clandestine operations range from barely noticeable to wholly disruptive. The US has been the victim of many attacks in recent memory, but our responses to them have been somewhat locked up in bureaucracy. President Trump announced recently that the US Cyber Command will be elevated to a Combat Command of its own. Let’s take a look at exactly what that means for the US.

Cyber Command Is now Officially its Own Combat Command

Elevating Cyber Command to a combat command status is a big development. Previously any operation within cyberspace had to go through one of the already existing combat commands which are based on region. Any cyber operation in Japan would fall under Pacific Command, any in Germany would be European Command, and so forth. Because of that, many operations would get bogged down when they had to move to a new part of the world. Different parts of the world mean different combat commands to work with.

The problem is fairly obvious, cyberspace is its own region and it is not necessarily tethered to specific locations outside of their physical servers -even those can be hidden, moved, etc-. This new designation of Cyber Command will help streamline any operations that we are currently running and make future operations more efficient. It should also help the United States’ ability to respond to the mounting threats and attacks from foreign and domestic actors. President Trump also said that this elevation in status should help secure funding for cyberspace operations as well. Prior to this, the budget for cyber operations would be lumped in with whatever budget the command theater had. In theory, having Cyber Command stand on its own would mean it secure more money and have greater autonomy over that money for their operations.

Cyber Command may also split away from the NSA because of this. Defense Secretary Mattis will study this possibility over the course of 60 days before officially releasing a statement on that.

The Good, The Bad, and the Worrying

Overall, I think that it is a good sign that the United States is not only recognizing Cyberspace as its own region, but finally taking our operations more seriously there. With well evidenced allegations that the United States’ Presidential Election had been compromised by foreign actors and the many cyber attacks carried out by China on the US, it is good that the US is working on bolstering its cyber defenses.

An issue arises though. Cyberspace feels a lot like it is in the ether, but it is well based in the physical realm. Servers, computers, and networks all have to be placed somewhere. While the United States does exercise its power with impunity almost anywhere, drawing the battle lines in cyberspace may be a bit more difficult. Servers move, attacks are masked, and sovereignty is fuzzy. A wrong move could spark previously unknown retaliation.

It also marks the beginning of an acceleration to a cyber-arms race. Many militaries in the world like to look at what the US is doing and either copy it or build up effective countermeasures against it.

The digital age necessitated this decision, it was inevitable. It will be interesting to follow how an independent Cyber Command will operate in the brave new world of clandestine digital operations.

Take Two: Bitcoin Miner BTCS Announces New Merger Deal – CoinDesk

CoinDeskTake Two: Bitcoin Miner BTCS Announces New Merger DealCoinDeskNew filings with the US Securities and Exchange Commission (SEC) show that BTCS has signed a non-binding letter of intent with Blockchain Global Limited. Blockchain Global, according…


CoinDesk

Take Two: Bitcoin Miner BTCS Announces New Merger Deal
CoinDesk
New filings with the US Securities and Exchange Commission (SEC) show that BTCS has signed a non-binding letter of intent with Blockchain Global Limited. Blockchain Global, according to the filings, operates a bitcoin mine out of China and also runs an ...
Blockchain and Bitcoin round-up: 21 August 2017Banking Technology

all 4 news articles »