Alibaba Signs Blockchain-Related Deal With Chinese Port Operator

China’s biggest port operator, China Merchants Port, reached a deal on May 28 with the e-commerce giant, Alibaba Group, and its affiliate, Ant Financial. This deal will allow for the development of a blockchain-based platform, which will target a number of different use cases. According to local media, the platform will allow buyers, sellers, logistic companies, banks, customs, and tax officials to conduct contactless digital export and import transactions. The companies will promote an in-depth integration of blockchain technology in the port industry. Their goal is to become the world’s…

Congress Fears US Is Losing Battle to Malware and Darkweb Cyberweapons

In a May 28 virtual roundtable before the congressional Subcommittee on National Security, International Development and Monetary Policy, witnesses and congresspeople alike feared that they are not keeping up with criminals hacking the financial system. Criminals have better resumes than government agents One witness, Guillermo Christensen, a partner at law firm Ice Miller, admired the cyber talent operating illegally:  “We are always playing catch up with the criminals. […] It’s very hard to find people who are as qualified as some of these criminal hackers, frankly, to take apart their…

JPMorgan Chase Settles Crypto Credit Card Lawsuit for $2.5M

Banking giant JPMorgan Chase settled a 2018 lawsuit recently, with a $2.5 total payout — the result of unclear fees charged when using credit cards for crypto purchases.  A May 26 court document detailed: “The Court notes that Defendant JPMorgan Chase Bank, N.A., f/k/a Chase Bank USA, N.A. (“Chase” or “Defendant”) has agreed to provide a Cash Settlement Amount of an aggregate of $2,500,000 in cash.” The lawsuit stemmed from lack of clarity  In January 2018, JPMorgan Chase quietly altered the terms of use around its credit cards when dealing…

Emin Gün Sirer’s AVA Labs to Distribute 2M Tokens Ahead of Full Launch

AVA Labs, a blockchain protocol founded by Cornell’s Emin Gün Sirer, is planning to distribute 2 million tokens in its final testnet before the project’s full launch in summer. The so-called “Denali Testnet” will serve as the final stage of the AVA network testing before AVA’s mainnet launch. The new testnet will allow each validator to earn up to 2,000 AVA network’s native tokens, AVA Labs announced on May 29. AVA Labs tokens are not yet listed on any cryptocurrency exchange and are not available for public purchase, a spokesperson…

Not Your Tulip Trust? Message Calling Craig Wright ‘Fraud’ May Unlock the Case

Infamous cryptocurrency figure Craig Wright faces newfound legal challenges over more than 1 million Bitcoin (BTC) after addresses listed in the Tulip Trust were used to sign a message labeling him a fraud. Wright has long been a divisive figure within the cryptocurrency community, having made unverified claims of being Satoshi Nakamoto, the founder of Bitcoin. These claims have been met with derision and disbelief by various prominent industry participants, including Ethereum founder Vitalik Buterin, podcast host Peter McCormack and Bitcoin Cash (BCH) proponent Roger Ver. Wright went as far…

Blockchain Battery Grids Are Powering Up at Lightning Speed

Equigy, a blockchain platform for managing batteries connected to the electric grid, is expanding its operations in the European Union. Ecologic technology news outlet, Green Tech Media, reported on May 29 that three major European Union’s electricity transmission system operators, or TSOs, joined Equigy’s platform. More precisely, TSO with operations in Germany and the Netherlands TenneT, Swiss TSO Swissgrid and Italian TSO Terna all joined the network. According to company data website Owler, TenneT has an estimated annual revenue of $1 billion, while Terna $2.3 billion. Furthermore, Energinet — a…

6 Questions for Pascal Gauthier of Ledger – Cointelegraph Magazine

Each week we ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! Each participant then gets to remove one blockchain question — and a personal one — and they can substitute in two of their own for the next victim.   This week our 6 Questions go to Pascal Gauthier, CEO of Ledger. Pascal started his career at Kelkoo, a price comparison service acquired by Yahoo for EUR 475 million…

Coinbase Investor and Fundstrat Analyst Explain Why Goldman Sachs Is Incorrectly Assessing Bitcoin

A leaked slide from a client meeting shows Goldman Sachs does not believe Bitcoin is an asset class. Coinbase angel investor Seth Ginns and Fundstrat analyst David Grider explain why Goldman continues to hold this antiquated position. Ginns and Grider joined Cointelegraph’s weekly Crypto Live Show to bring an investor’s perspective to the usual trader-heavy lineup. They also dive deeply into a broad range of topics including how they began investing in crypto, why they’ve stayed, crypto’s macro impact on the world of finance, private and central bank digital currencies,…

ASIC Repair Technician Certification Coming to the US

Bitmain’s “Ant Training Academy” certification program will soon be available in North America. This will be the first location to receive this accreditation outside of China. The new location was developed in partnership with Core Scientific, a U.S. based mining hosting provider. The company announced the collaboration on May 28, with the first courses set to launch in the fall of 2020. The new academy will be located in Dalton, Georgia, and offers the same “highly regarded training and certification services” as in the China-based entity. On-site repairs are key…