Microsoft Releases Blockchain Manager App

Microsoft announced its fully managed Azure Blockchain Service in a press release on May 2. The new blockchain-as-a-service (BaaS) platform will purportedly allow users to build blockchain applications on preconfigured network.  According to Microsoft’s head of corporate communications, Frank Shaw, this service “simplifies the formation, management, and governance of consortium blockchain networks.” Shaw further noted that Azure Blockchain Service can create a new consortium network “in a few simple clicks,” or let the user perform basic operations like adding new members to the network. Quorum, an open source blockchain platform…

Former CFTC Chair Gary Gensler Says Crypto Market Needs Regulation in Order to Grow

Former chairman of the Commodity Futures Trading Commission (CFTC) Gary Gensler said that the cryptocurrency market needs regulation in order to grow, because consumers must be protected. Gensler shared his views with Cointelegraph at the Business of Blockchain event at the Massachusetts Institute of Technology on May 2. Speaking about the perspective on such services and products as custody and bitcoin (BTC) exchange-traded funds (ETFs), Gensler argued that for the market to prosper and potentially grow, investors should know that they have both investor and consumer protection embodied in the…

Upgraded Hyperledger Fabric Sees 7-Fold Increase in Transaction Speed

Researchers have re-engineered the Hyperledger Fabric to support almost seven times more transactions per second (TPS), according to a May 2 news release from Canada’s University of Waterloo. A new series of optimizations increased the volume of data that the blockchain — used by financial institutions, IT giants and engineering companies — can process. Where it formerly maxed out around 3,000 TPS, the researchers claim they managed to achieve 20,000 TPS. The university’s work focused on improving “end-to-end transaction throughput” by redesigning Fabric’s ordering service, transaction service and data management…

US District Attorney Seeks to Retain Defendant in Crypto Shadow Banking Crypto Case

The United States Attorney for the District of Arizona (DA) is seeking to retain a defendant in custody in a case of alleged shadow banking for cryptocurrency companies. In a court filing released on May 1, the DA states that they are concerned the accused will flee. The filing follows the official announcement published by the Southern District of New York Attorney in April, ordering to charge an Arizona citizen Reginald Fowler and Israeli woman Ravid Yosef for allegedly operating an unlicensed money transferring business and bank fraud. The recent…

New Zealand Churches Deny Affiliation With Crypto Ponzi Scheme OneCoin

A New Zealand church accused of colluding with a cryptocurrency Ponzi scheme in targeting the congregation, has denied knowingly participating in illegal activity in a Facebook statement on May 2. The Samoan Independent Seventh Day Adventist Church (SISDAC) is one of two places of worship accused of having links to OneCoin, which raised hundreds of millions of dollars worldwide by luring investors with the promise of huge returns. According to RadioNZ, the scam specifically targeted New Zealand’s Samoan community — with OneCoin workers using SISDAC and the Samoa Worship Center “to reach a vast network…

Indian Tech Firm Tech Mahindra to Combat Spam Phone Calls With Blockchain

Indian technology company Tech Mahindra will be implementing an anti-spam call solution powered by blockchain, Indian business daily Business Today reports on May 2. This solution will allow phone companies to comply with the Telecom Regulatory Authority of India (TRAI)’s regulations to protect mobile phone subscribers from unsolicited Commercial Communication (UCC), which will come into effect in the last week of May. Rajesh Dhuddu, Global Practice Leader of Blockchain at Tech Mahindra said that the TRAI regulations will affect 800 million subscribers. The solution uses blockchain tech to save and…

Coinbase Wallet Adds Support for Dogecoin to Wallet App

American major cryptocurrency exchange Coinbase has added support for Dogecoin (DOGE) to its crypto wallet service Coinbase Wallet, according to an announcement published on May 1. The announcement states that users can now store DOGE directly in the Coinbase Wallet app. The coin thus joined other digital currencies —  bitcoin (BTC), ethereum (ETH), bitcoin cash (BCH), ethereum classic (ETC), Ripple (XRP), Stellar Lumens (XLM) —  already supported by the wallet. The wallet also supports the DOGE Testnet. DOGE was initially invented in 2013 as a joke currency, the logo of…

World Gold Council Blinks, Claims Bitcoin’s ‘No Replacement for Gold’

By CCN: Gold may have a value of $7.8 trillion, but it isn’t happy about giving any of that up to bitcoin, the latter of which has a market cap of $97.2 billion. A day after Grayscale unleashed its “Drop Gold promotion, a TV commercial that garnered 100,000 views in less than 24 hours, the World Gold Council is clapping back. Gold’s reputation as a store of value has gone pretty much uncontested for thousands of years – until bitcoin, which has earned the reputation as digital gold in addition…

Medici-Backed Blockchain Agricultural Project Now in Use in Mexico

Blockchain-powered agricultural project GrainChain has partnered with the Mexican state of Tamaulipas to expand its grain tracking service in the country, Forbes reports May 2. According to the report, the Tamaulipas government is now using GrainChain’s software for tracking major grains such as sorghum, soybean and corn. Implementing GrainChain’s blockchain-enabled tracking tools is expected to bring more transparency in the grain supply chain by automating data records and providing more clarity to the way grain is traced from the field to the end marketplace. GrainChain’s software can purportedly verify the…

Crypto Theft Could Hit $1.2 Billion in 2019, Says Cipher Trace

Crypto theft has greatly reduced this year compared to last year as regulators continue to enhance their scrutiny and the enforcement of anti-money laundering controls. Crypto Theft Could Hit $1 billion Mark Despite being $500 million less than last year, crypto theft could still go well beyond a billion dollars by the end of this year. A quarterly report released on May 1 by Cipher Trace indicates that investigatory specialists had found that over $356 million worth of crypto had been stolen in Q1 2019. The amount stolen includes the CoineBene…