After a stock analyst lost $1 million on one penny stock, he set off to find out how — and soon discovered signs of a far bigger scheme than he had ever imagined.
Quelle: theintercept | The Money Is Gone
Chris DiIorio had just lost a million dollars.
This was back in 2006. DiIorio, who was 39 at the time, had recently moved with his new wife from Boston to Castle Pines, Colorado, a leafy suburb of Denver, and was toiling in finance as a market researcher, analyzing the financial statements of public companies and giving recommendations to portfolio managers.
He had previously worked on Wall Street as an institutional equity trader and research analyst for a subsidiary of the now-defunct investment bank Donaldson, Lufkin, and Jenrette. He had 13 years experience executing massive trades for large mutual fund clients like Fidelity and Putnam. Weiterlesen
Several central banks, including the Bank of England, the People’s Bank of China, the Bank of Canada and the Federal Reserve, are exploring the concept of issuing their own digital currencies, using the blockchain technology developed for Bitcoin. Skeptical commentators suspect that their primary goal is to eliminate cash, setting us up for negative interest rates (we pay the bank to hold our deposits rather than the reverse).
But Ben Broadbent, Deputy Governor of the Bank of England, puts a more positive spin on it. He says Central Bank Digital Currencies could supplant the money now created by private banks through “fractional reserve” lending – and that means 97% of the circulating money supply. Rather than outlawing bank-created money, as money reformers have long urged, fractional reserve banking could be made obsolete simply by attrition, preempted by a better mousetrap. The need for negative interest rates could also be eliminated, by giving the central bank more direct tools for stimulating the economy.
DigixGlobal will be transferring their current gold holdings to Silver Bullion for the upcoming relaunch of DGX 2.0.
The Ethereum-based gold tokenisation company DigixGlobal has secured a deal with Silver Bullion and The Safe House and will be transferring their current gold holdings to Silver Bullion for the upcoming relaunch of DGX 2.0.
Quelle: DigixGlobal secures deal with Silver Bullion and The Safe House in Singapore
The chief executive officer of Swift, the interbank messaging system embroiled in a global bank-hacking controversy, says to expect more information about breaches to emerge as fully armoring the network’s defenses is likely to take years.
“We don’t think this is going to be solved overnight, so we’ll be looking for a number of quick wins to improve things in the near term,” Gottfried Leibbrandt, Swift’s CEO, said in an interview from the cooperative’s London office on Wednesday. “The full rollout, and the full shore up, will be a matter of years.”
Hackers used Swift messages to steal $81 million from Bangladesh’s central bank in February, and since then investigators are said to have identified breaches at as many as 12 other banks. Swift’s boss talked directly to the media about the attacks for the first time, as the crisis has pushed the little known Belgium-based operation into the center of an investigation into one of the largest cyberheists in history. Weiterlesen
R3 has released a report evaluating how Ethereum could be used by banks engaged in consortium and private blockchain initiatives.
Quelle: R3 Publishes Vitalik Buterin Report on Ethereum for Banks – CoinDesk
This op-ed explores The DAO’s creation in the context of existing stock exchanges, as well as the overall evolution of technology.
Quelle: The DAO is a New Dow – CoinDesk
An automated business run on computer code, with no human input beyond its anonymous backers, has raised the equivalent of $120m in digital currency. The financial support for the vehicle, called The DAO, makes it the most advanced embodiment yet of
Quelle: Automated company raises equivalent of $120m in digital currency – FT.com
While blockchain technology is certainly worth investigating, chief information officers should not be fooled into thinking it is the panacea for all the potential use cases currently under discussion. It’s advisable to apply a healthy dose of scepticism
Source: http://www.techcentral.co.za/blockchain-hype-getting-ahead-of-itself/63813/
The blockchain technology is one that essentially acts as a public database of all transactions taking place on its system and whose potential is yet to be unlocked.
The digital cryptocurrency world has been abuzz lately with the entry of a new player. Ethereum as a platform and Ether as the digital currency linked to it has been able to enthuse and impress a lot of people in the financial world.
Before Ethereum, Bitcoin was the go-to digital currency around the world. However, Bitcoin had its own limitations and had been in the news mostly for the wrong reasons.
Quelle: How blockchain technology can change the financial world as you know it – The Economic Times