Forget oil, Russia goes crazy for cryptocurrency

Forget oil, Russia goes crazy for cryptocurrency

Standing in a warehouse in a Moscow suburb, Dmitry Marinichev tries to speak over the deafening hum of hundreds of computers stacked on shelves hard at work mining for crypto money.

"The form of currency we are used to is about to disappear," predicts the 42-year-old entrepreneur, who also works as President Vladimir Putin's adviser on internet matters.

Marinichev is one of Russia's leading crypto-businessmen at the helm of operations in this facility larger than a football pitch located in a former Soviet-era car factory, which collects virtual money on the accounts of its clients.

Ethereum hits a one-month high and is up nearly 50% in the last two weeks

Ethereum hits a one-month high and is up nearly 50% in the last two weeks

While bitcoin's bitter infighting and subsequent price rise has taken center stage, rival cryptocurrency ethereum has been quietly pushing higher in the background.

On Wednesday, ethereum hit $314.75, the highest level in over a month since it reached $322.28 on June 29, according to CryptoCompare, a platform monitoring live prices of major cryptocurrencies. The price pulled back at a bit on Thursday to just above $301.

But ethereum has been climbing steadily. Over the past two weeks, ethereum is up nearly 50 percent.

For many Middle Eastern entrepreneurs, the first order of business starts offshore

As startups make headway across the Middle East, they are increasingly doing business via offshore havens like the British Virgin Islands (BVI), the Cayman Islands, and even the US state of Delaware. This approach is the only way to calm investors who are deeply wary of the region’s sclerotic courts and opaque regulations that are often enforced on the whims of powerful bureaucrats.

Could This Blockchain In Korea Be The First To Connect An Entire Country?

Could This Blockchain In Korea Be The First To Connect An Entire Country?

While hundreds of blockchain projects are cropping up around the world, the technology’s true potential to seamlessly share information is still largely untapped. In South Korea, one company is vying to be the first to connect the country through a massive-scale blockchain, and it's already gaining momentum.

Dayli Financial Group, a house of Korean fintech startups, is working on creating an ecosystem called ICON that will allow government departments, universities, hospitals, securities, banks and any private company to interact without third-party networks that charge transaction fees or delay the process.

How NEM Blockchain Can Potentially Revolutionize Stock Markets

How NEM Blockchain Can Potentially Revolutionize Stock Markets

hare trading essentially has remained unchanged since the 17th century. While most of the exchanges have shifted to an electronic model and trades are conducted faster than ever before, the truth is that there is still a central intermediary in stock trading, and this is perhaps the biggest weakness of the system.

Bringing the Blockchain to the system holds the promise of building decentralized exchanges in the future. The wider DIM Ecosystem comprises of DIMCOIN, DIMCOIN Foundation and other constituents.

The technology is based on the NEM Blockchain technology and seeks to revolutionize the way securities are traded. The DIMCOIN Initial Coin Offering (ICO) is currently underway and will end on Aug. 27, 2017.

Making money and doing good: Impact investing is catching on

Making money and doing good: Impact investing is catching on

Snap, crackle, pop!

Next time you hear the sound of Kellogg's (K) Rice Krispies in a bowl of milk, listen for echoes of a teacher quietly tapping away on a mobile device while assessing a student in real time.

The W.K. Kellogg Foundation's Mission Driven Investment (MDI) arm in 2010 made a $5 million bridging loan to Wireless Generation, a provider of software to schools across North America. The cash helped supply more schools with real-time mobile technology for teachers to assess students as they work.

Blockchain-Enabled Electric Car Charging Comes to California

A residential electric-car charger spends most of its time just hanging around unused. 

That underutilization looked like a opportunity to Val Miftakhov, CEO of the smart charger startup eMotorWerks. On Tuesday, the company launched a beta test of a distributed, peer-to-peer charging marketplace in California that lets drivers pay each other for use of their home chargers. 

How Emerging Markets And Blockchain Can Bring An End To Poverty

How Emerging Markets And Blockchain Can Bring An End To Poverty

Back in 2015, Forbes featured an interview with William Blair partner Brian Singer on how bitcoin will end world poverty. According to Singer, the growing access to the internet through affordable devices could enable particularly those from emerging markets to use a cheaper payment system with a transparent means of recording transactions.

Many scoffed at the idea back then. Indeed, cryptocurrencies and blockchain had yet to reach the same level of popularity they enjoy today. But what a difference a couple of years make.

Why Jack Ma went to Kenya, Rwanda with 38 Chinese billionaires in tow

Why Jack Ma went to Kenya, Rwanda with 38 Chinese billionaires in tow

Jack Ma, Asia's richest man and founder of Alibaba Group is on a two-day trip to east Africa, visiting Kenya and Rwanda with 38 fellow Chinese billionaires, all no doubt poised with expensive fountain pens, ready to ink billion dollar deals. East Africa has become an attractive investment destination in recent years, owing to its improved business environment. According to Ernst & Young's 2016 Africa attractiveness program, east African countries recorded the highest share of Foreign Direct Investment in Africa, achieving 26.3 percent of total projects.Governments across the region have continued to build structures ready for every investment opportunity. The most important structures have been built in countries like Kenya and Rwanda, where the government has shown great support for innovation and entrepreneurship.

Blockchain technology being considered by more than half of big corporations, according to study

Blockchain technology being considered by more than half of big corporations, according to study

More than half of the world's large corporations are looking into blockchain (distributed ledger technology), according to a study by U.K. research firm Juniper Research.

The research, released on Monday, found that 57 percent of large corporations – defined as any company with more than 20,000 employees – were either actively considering or in the process of deploying blockchain.

And two-thirds of companies surveyed by Juniper said that they expected the technology to be integrated into their systems by the end of 2018.

Necker Island Blockchain Summit Kicks Off With Doses Of Idealism And Realism

Necker Island Blockchain Summit Kicks Off With Doses Of Idealism And Realism

Many blockchain and crypto asset-focused conferences have an obvious financial focus.

But the most idealistic and socially conscious of them, the Blockchain Summit hosted by the Bitcoin mining and blockchain services company Bitfury Group and venture capitalist Bill Tai, commenced Tuesday on Sir Richard Branson's private island Necker, with a different bent.

How Bitcoin is infiltrating the $60bn global art market

How Bitcoin is infiltrating the $60bn global art market

Eleesa Dadiani owns and runs an art gallery in London's famous Cork Street. She was born in Georgia in the Caucasus and was "breastfed by gypsies".

But she is also a passionate believer in the power of Bitcoin and other digital currencies.

When we meet she is busy preparing for an exhibition of sculptures made from the exhausts of former Formula 1 racing cars.

One of these strange rib-cage-like creations made from the super-strong alloy inconel has been gold-plated and will sell for about £35,000.

"These are pieces of history," she tells me.

In a first for the tradition-bound art world of Cork Street, her international clientele will have the opportunity to pay using Bitcoin, the digital cryptocurrency underpinned by blockchain technology.

The gallery will also accept other cryptocurrencies such as Ethereum, Ethereum Classic, Dash, Litecoin, and soon, Monero, she says.

Why?

Crypto investors flock to a market where tech giants Amazon, Google and Facebook are absent

Crypto investors flock to a market where tech giants Amazon, Google and Facebook are absent

Money is pouring into cryptocurrencies at a furious clip. You can call it a bubble, or the Wild West. Some say it's reminiscent of dot-com stocks in 1999, or "tulip mania" from nearly 400 years ago.

There's plenty of speculation, to be sure, and more risks than we can count.

But for entrepreneurs and tech investors, crypto and the underlying blockchain technology has a particularly attractive quality that's unique in today's tech landscape — it's about the only high-growth area not occupied by the industry giants.

Eurozone Growth Projections Revised up by the IMF

Eurozone Growth Projections Revised up by the IMF

The International Monetary is more optimistic about the economy of the 19-country eurozone after a run of elections saw populist politicians defeated.

In an update to its April projections published Monday, the IMF revised up its growth forecasts for many eurozone countries, including the big four of Germany, France, Italy and Spain, after stronger than anticipated first quarter figures.

How Google searches are used to track infectious diseases

How Google searches are used to track infectious diseases

Google searches could be a game changer for monitoring illnesses around the world.

New research indicates online searches can indeed help health officials track diseases. The findings follow previous attempts that yielded mixed results.

A team from Harvard University has accurately -- and quickly -- tracked dengue fever in underdeveloped countries by using a mathematical model that combines Google searches and clinical government data.

China is crushing the U.S. in renewable energy

China is crushing the U.S. in renewable energy

China may be the planet's biggest polluter but it's also powering ahead of other countries on renewable energy.

As the Trump administration yanks the U.S. out of the Paris climate change agreement, claiming it will hurt the American economy, Beijing is investing hundreds of billions of dollars and creating millions of jobs in clean power.

China has built vast solar and wind farms, helping fuel the growth of major industries that sell their products around the world.