Hong Kong University Receives $20 Mln Research Grant for Payment Systems, Blockchain

hong kong university receives 20 mln research grant for payment systems blockchain

The Hong Kong University of Science and Technology Business School has received a $20 million research grant to improve the security capabilities of electronic payment systems, China News reported August 12. The Hong Kong University of Science and Technology (HKUST) Business School has reportedly partnered with the University of Hong Kong (HKU), the Chinese University of Hong Kong (CUHK), and the City University of Hong Kong (CityU) to work on the research project. Apart from the enhancement of the electronic payment security system, the parties will also explore blockchain technology applications,…

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Reports: India’s Crypto Regulations Delayed, Government Considers ‘Crypto Tokens’

reports indias crypto regulations delayed government considers crypto tokens

Regulation The Indian government previously planned to submit the proposal for crypto regulations in July. However, a senior official has revealed that the regulatory framework for cryptocurrencies in India has been delayed and will likely be ready by the year’s end. Meanwhile, the government is reportedly considering “launching crypto tokens for financial transactions.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Indian Regulations Delayed Subhash Chandra Garg. The Indian government has been working on cryptocurrency regulations. A panel was set up in December last year under Subhash Chandra Garg,…

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‘Unhackable’ Wallet Reportedly Breached, Hackers Claim to Meet Bounty Conditions

unhackable wallet reportedly breached hackers claim to meet bounty conditions

A group of researchers claims to have have hacked the Bitfi wallet, the Next Web reported August 12. Bitfi’s executive chairman, cybersecurity pioneer John McAfee, has called it “the world’s first unhackable device.” To prove his claim, McAfee challenged security experts to breach the device for a $100,000 bounty starting July 24. Bitfi is a physical device, or hardware wallet, which supports “an unlimited amount of cryptocurrencies,” and revolves around a user-generated secret phrase instead of a conventional 24-word mnemonic seed that has to be written down. Additionally, Bitfi is…

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Blockchain Startup Signs MOU With Central Bank of Curaçao and Sint Maarten

blockchain startup signs mou with central bank of curacao and sint maarten

Barbados-based fintech startup Bitt Inc. has signed a Memorandum of Understanding (MOU) with the Central Bank of Curaçao and Sint Maarten (CBCS) to research the possibility of issuing a digital guilder, according to an August 12 press release. The parties signed the MOU in order to develop a central bank digital currency to facilitate financial payments within the monetary union of Curaçao and Sint Maarten. Per the announcement, the bank is looking to “reduce the level of cash usage within the monetary union” and facilitate “more secure, more Anti-Money Laundering…

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Blockchain Among Targets of South Korea’s $4.4 Billion Domestic Investment Plans for 2019

blockchain among targets of south koreas 4 4 billion domestic investment plans for 2019

South Korea announced it would “nurture” eight sectors of the domestic economy, including blockchain, by investing 5 trillion won (about $4.4 billion) next year, local media outlet Yonhap reports Monday, August 13. According to the results of a meeting involving the country’s finance ministry, the government opted to increase the amount spent on areas such as blockchain, big data and artificial intelligence (AI) by 65 percent from 2018 estimates. “The measures will help facilitate the platform economy, which in turn will help speed up innovative growth,” the publication quotes the…

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China’s IT Ministry Makes Blockchain, Data Security Focus of One of Its Key Labs for 2018

chinas it ministry makes blockchain data security focus of one of its key labs for 2018

China’s Ministry of Industry and Information Technology (MIIT) has included a blockchain-dedicated laboratory on the list of its key labs for 2018, published August 13. According to the ministry’s post, the lab will be dedicated to harnessing blockchain for the data security industry and IT, and will be overseen by the National Industrial Information Security Development Research Center. Earlier this month, MIIT proposed a number of measures to accelerate blockchain adoption, saying it would enhance interaction with various localities and departments, and would build a robust industrial ecosystem to allow…

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