Twitter Exploring Blockchain To Help Fight Scams Said CEO In US Congress

In a Congressional hearing, the CEO of Twitter, Jack Dorsey told a congressional committee that the social media giant is exploring blockchain solutions to counter prevalent scams that has been plaguing its platform.

Twitter has been ground-zero for identity scams that seek to defraud users out of their cryptocurrencies.

Through the use of similarly named accounts would-be scammers have tricked users into sending their coins to fictitious account that is seen to be very influential in the cryptocurrency space.

Dorsey who is a known to be a Bitcoin bull said to the committee that blockchain is one technology that has a lot of untapped potential, specifically around distributed trust and distributed enforcement.

He said that he has people inside the company exploring the nascent technology’s potential.

High Times Accepting Crypto For Its IPO

The cannabis publication High Times is currently accepting cryptocurrency for its ongoing initial public offering.

However they are not taking or holding cryptocurrencies directly but instead it will be processed by a third-party processor called Fund America which will convert Bitcoin (BTC) and Ethereum (ETH) into U.S. Dollars.

Their announcement of allowing cryptocurrencies as a method of taking in investments have attracted the attention of the U.S. Securities and Exchange Commission which forced them to take back their announcement in an August 13 filing submitted to the agency.

High Times representative Jon Cappetta confirmed that the company is still accepting BTC and ETH as a payment options and the regulatory filing was meant to make the SEC happy.

The fundraising will close on the 12th of this month and will proceed to the listing process.

Most Expensive CryptoKitty Sold For 600 ETH

According to an online news network, the 896,775th CryptoKitty named Dragon had become the most expensive CryptoKitty sold in the Ethereum network.

It was sold for 600 Ethereum (ETH) or about $172,000 at the time of sale.

What is surprising about the sale is that the fact that there is nothing really special about the Dragon.

Some have speculated that it might have been a mistake or even a form of blockchain-enabled money laundering.

Nevertheless the CryptoKitty was bought by a certain Rabono making it the most expensive kitty ever be sold in the DApp-based game.

The previous title holder was held by Founder Cat #18 (Gen 0), which was sold for 253 ETH worth $110,000 at the time of sale.

When asked about the said sale Axiom Zen, the organization behind the CryptoKitties project reveals that they do not publicly comment on interesting purchases.

Bitfury’s Magic Liquid Trims Cooling Demand By 95%

According to Valery Vavilov, CEO of Bitfury, mining activity remains profitable and his company is upbeat with the long-term prospect of bitcoin.

The company cuts cost on its operations by investing in cooling technology that cuts cooling demand by 95%.

The company is using a liquid from 3M Corporation called Novec, which has been used to draw water from the desert and contain auto racing fires.
The cooling system reduces the amount of space required for mining by a third.

The company also believes that these type of cooling technology has demand beyond crypto mining particularly from the urban cloud computing providers.

Bitfury put the Republic of Georgia in the Cryptocurrency mining map to become the world’s second largest cryptocurrency mining region after China because of cheap energy, inexpensive real estate and tax incentives from the government.

IBM Launches World Wire: Stellar-based Blockchain Payment Platform

IBM has just launched a blockchain-based financial solution that it says will disrupt existing global payments and remittances.

The IBM Blockchain World Wire combines the Stellar Blockchain with digital assets to make instant money transfers possible.

It readily integrates with all existing payment systems, process any payment size, to any destination in any asset type in a secure manner.

This means that the new system can process transactions at a fraction of the cost and time compared to traditional financial systems.

World Wire eliminates the presence of multiple parties in a single transition and it vastly reduces the capital requirements for cross-border transactions.

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