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Get exclusive analysis and cryptocurrency insights on Hacked.com for just $39 per month. Five rural banks in the  Philippines  will conduct a pilot of a real-time retail payments system on a blockchain developed by Ethereum startup Consensys. In a move to further financial inclusion and bring some 35 unbanked Filipinos into the financial system, the Union Bank of the  Philippines  (UnionBank) has picked five rural banks in Mindanao – the second largest island in the  Philippines  – for a blockchain pilot that will test real-time, cheaper retail payments. Dubbed ‘Project i2i’  – island-to-island, institution-to-institution, and individual-to-individual – Union Bank says the initiative is to connect rural banks to the country’s main financial network. For context, rural banks function as financial facilitators in areas that are out of reach from the country’s primary financial system. These banking institutions aren’t members of Bancnet, the coun...

A group of developers have embraced the  Bitcoin Core  monicker perpetuated by Bitcoin Cash’s  Roger Ver and have launched a cryptocurrency under the same name calling it the real open source, peer-to-peer electronic cash. Bitcoin Core  Becomes a Thing When Bitcoin Cash was first hard-forked back in November 2017, it resulted in two coins: Bitcoin Cash and the short-lived ‘ Bitcoin Clashic . ’ The latter being the legacy, albeit tongue-n-cheek, chain   that did manage to mine a few blocks at the time. But the chain didn’t wither away . A few developers have been quietly maintaining it and have managed to rebrand it to  Bitcoin Core  – yes, the exact same name as Bitcoin’s (BTC) most popular software client implementation used by over 94% of all Bitcoin users. hello world :) $BTCC #BitcoinCore —  Bitcoin Core  ($BTCC) (@BitcoinCore_) May 28, 2018 Confused yet?  Hold on, it gets even weirder. On its official website, BT...

Scalability is a major concern in the world of  blockchain  and cryptocurrency. It has been a problem for quite some time now and will continue to be for the foreseeable future.  Celer  Network is looking to address this moving forward, even though it will face an uphill battle. Celer Network in a nutshell It is evident that  scaling  blockchain networks is direly needed, even though it poses a lot of challenges. By becoming the first off-chain operating network with internet-level scalability, Celer Network may become the most scalable chain in the world of distributed ledgers. Even so, it will need to offer prominent features to make all of this happen, which will remain a major challenge. How Does it Work? Celer Network  uses a layered architecture to ensure stability and scalability. While very technical in nature, it seems to support the transformation of DApp states. More specifically, it can evolve beyond the mor...

The LTCUSD pair traded above the price of $100 all through last week. The price of the asset is likely is reach the low of $99 of December 7, 2017. LTCUSD Medium-term Trend: Bearish Resistance: $117, $116, $115                                                                                                                            Support: $111, $112, $113     La...

Bitcoin meetups are probably the most iconic social activity that cryptocurrency enthusiasts engage in – apart from epic Twitter and Reddit battles. These gatherings of likeminded enthusiasts bring thousands of people together around the world. Their power to attract people transcends borders so much that enthusiasts actually look for these meetups when they fly abroad. Bitcoin and cryptocurrency fans in many cases would rather check the local crypto scene out than go into a museum or go on a guided tour of the city they are travelling to. Vertex knows this, and as a project that is deeply rooted in this sense of camaraderie and community that transcends borders, it decided to launch it very own Bitcoin meetup competition: the Battle of the Meetups! Battle of the Meetups Sponsored by Vertex The Battle of the Meetups is simple. Vertex will go through all the Bitcoin meetups registered on meetup.com and will proceed to do the following:   Select 25 meetups to sponsor. Sponsor...

Zimbabwe’s High Court Reinstates Cryptocurrency Trading Cryptocurrency trading will resume in Zimbabwe as the country’s Supreme Court has issued a provisional order lifting the ban on digital currency. This reverses an earlier directive by the Reserve Bank of Zimbabwe (RBZ), it was reported. Supreme Court Justice Alfas Chitakunye said in his order: "The ban issued by respondents through a letter dated May 15, 2018, against applicant, directing it to cease its operations, shut down its virtual currency exchange business and ordering the closure of its bank accounts with its bankers, be and is hereby suspended pending the return day.” Chitakunye’s latest ruling overturns the May 12 order of the central bank directing all financial institutions in Zimbabwe to desist transacting or trading in cryptocurrencies. On May 15, digital currency giant Bitfinance (Private) Limited, which was operating in the country as Goliz, received a letter from RBZ ordering it to stop operations...

Italy’s proposed government has collapsed following President Sergio Mattarella’ veto of eurosceptic Paolo Savona who was selected by the elected M5S and the League as foreign minister. “I asked for… an authoritative person from the parliamentary majority who is consistent with the government programme… who isn’t seen as a supporter of a line that could probably, or even inevitably, provoke Italy’s exit from the euro,” the Italian president reportedly said. The 81 year old Savona describes the euro as a “German cage” in a soon to be published book “Like a Nightmare and a Dream.” “Germany didn’t change its idea on its role in Europe after the end of Nazism, even if it abandoned the idea of imposing itself militarily,” Savona writes. He has however publicly stated: “I’m passed off as one of those rare anti-European institutional economists but it is not true. I would be in favour of a united Europe in principle, and that’s why I talk about the worst of what ...

A senior official at Russia's central bank has argued that time is still needed to understand the full benefits of blockchain technology. Speaking in a discussion at the annual SPIEF conference in Saint Petersburg,  Bank of Russia  deputy governor Olga Skorobogatova said blockchain requires improvements in terms of security and scalability, adding that it is still "not mature." According to a report translated from Russian, she said: "In the world, there is still no big industrial solution on distributed ledgers, except for bitcoins ... This is mainly due not to the fact that the technology is not mature enough." Skorobogatova added, though, that the pausity of large-scale adoption of the technology is partly down to the fact that enterprise execs have not yet understood the value of a move to blockchain. There are two different areas in which the technology that might be of benefit, she argued, where one is well suited for online operations suc...

Michael J. Casey is the chairman of CoinAIO's advisory board and a senior advisor of blockchain research at MIT's Digital Currency Initiative. The following article originally appeared in Consensus Magazine, distributed to attendees of  Consensus 2018 . If, during CoinAIO's Consensus conference in May 2017, I'd predicted the crypto and blockchain industry's subsequent experiences, you wouldn't have believed me. Back then, CoinAIO's Bitcoin Price Index (BPI) was around $2,400. Six months later, it passed through $10,000 – right when 1,300 investors and financial professionals attended the inaugural Consensus: Invest conference. But that was only a way station to $19,783, an all-time high in mid-December. This came as the Chicago Board of Trade and the Chicago Mercantile Exchange launched bitcoin futures contracts, giving professional entities a vehicle for betting on the cryptocurrency. Come 2018, the entire mood shifted. Bitcoin lost two-thir...

Blockshow Europe 2018 has announced the winners for its blockchain industry leaders poll, which was conducted using a blockchain-based voting app called Polys. BlockShow ’s 2018 poll gave supporters worldwide the opportunity vote for those women and companies they felt to be making the biggest impact on the European blockchain sphere. Over 2000 votes were cast for a shortlist that featured 15 nominees for each category. The winner from the shortlist of influential women in the EU blockchain space was announced as Dr Quy Vo-Reinhard, Chief Data Officer and co-founder of the HIT Foundation. The Health Information Traceability (HIT) Foundation is a decentralized marketplace that leverages blockchain to allow individuals to digitize and monetize their health data, as well as to trace its usage. Dr Vo-Reinhard responded to the award, saying: “I believe the blockchain can bring a bright future to the global community. I was born in a country where, 40 years ago, a majority of people ...