Daily Byte: Monday, November 26, 2018

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Here is some of the news, for Monday, November 26, 2018:

Bitcoin SV – one of the feuding claimants for the Bitcoin Cash mantle – has officially waved the white flag over the Thanksgiving weekend, ending a hash war that has helped contribute to a BCH bleed-off of over 50 percent of market capitalization since the beginning of November.

In a post on Coingeek, Bitcoin SV representative Calvin Ayre indicated the company is no longer seeking the name "Bitcoin Cash" and will instead seek its own blockchain.

Ayre wrote:

"Any time you feel forced to square off to defend yourself or something you value you always need to have an end game plan. For CoinGeek that end game was always making sure there was a version of the original Bitcoin still able to show off its original economic design genius to the world."

Per Ayre, nChain – the Craig Wright-headed firm supporting the SV fork – said it will "leave ABC chain alone if they enact replay protection and do a permanent split." Replay protection prevents charges from one fork of a blockchain from being registered on other forks.

Germany to Tackle Tax Fraud with Blockchain

German business news outlet WirtschaftsWoche is reporting that the German Federal Ministry for Economic Affairs and Energy (BMWi) is planning to fight tax fraud using blockchain technology.

"Regulatorically, we are not quite ready for the new world," parliamentary state secretary Christan Hirte said, per a Google translation. "This could ensure that who owns a share is at any time certainly traceable."

The idea for this came following the tax evasion scheme CumEx-Files, where several banks, stock traders, and lawyers engaged in speculation with dividend tax. The German economy was hit for at least $36.2 billion in the scheme that saw over $60 billion stolen.

The hope is that through blockchain technology, tax obligations would be traceable at any time. At this time, there are no definitive details on how this new system would work.

Irish Tech News is reporting that the Gibraltar Financial Service Commission has awarded the Gibraltar Blockchain Exchange (GBX) a "full Distributed Ledger Technology (DLT) license." GBX is a subsidiary of the Gibraltar Stock Exchange (GSX), meaning that it now owns a fully regulated blockchain exchange.

The exchange was purpose-built to comply with the blockchain regulatory framework for the British territory. The establishment of the exchange reflects Gibraltar's intentions to make blockchain and token sales principal industries for the island.

Post-Regulations Crypto Custodian Launches in Hong Kong...

Read full story on ETHNews.com


Tags: Bitcoin, Bitcoin Cash, Hong Kong, Calvin Ayre, Germany, Securities and Futures Commission, South China Morning Post, One country, two systems, Irish Tech News, Gibraltar Blockchain Exchange