Investors who thought they would get stock in a blockchain project were bilked out of approximately 300 million yuan – or nearly $47 million – through an alleged pyramid scheme in China, Cryptovest reported. The suspects, which were arrested in the city of Jinan, allegedly told...
The President of China Xi Jinping said this week that blockchain technology will enable “breakthrough” applications. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...
Months after South Korea’s Financial Services Commission banned token sales, the country’s National Assembly is seeking to allow some initial coin offerings (ICOs), CoinDesk reported. Through proposed legislation, the assembly is seeking to allow ICOs if they come with investor protections. Get the Full Story...
Chen Weixing, Founder of Chinese ride-hailing app Kuaidi Dache and CEO of app developer Funcity, is gearing up to create a ridesharing service using blockchain technology. According to a report in CoinDesk, the new platform — announced over the weekend — will be developed along with Yang...
American Express is embracing the blockchain for it’s Membership Rewards program. The project comes with a big assist from Hyperledger — whose blockchain technology the company is leveraging — and Boxed, the online grocery service that has agreed to pilot the program. Get the Full Story...
More than $1.2 billion in crypto has been stolen by criminals since the start of last year, according to the non-profit Anti-Phishing Working Group, Reuters reported. The figure, which was released on Thursday (May 24), includes both unreported and reported thefts. And it comes to show...
You know blockchain is about more than bitcoin, but what else do you know? We queried some of the most notable names in payments to get the lay of the land, with a focus on where blockchain has been, where it's going and what the...
Bitcoin dropped below the $8,000 level on Wednesday (May 23), MarketWatch reported. The cryptocurrency was $7,522.24 as of 8:03 p.m., according to CoinDesk. But bitcoin wasn’t alone: Other major cryptocurrencies fell more than 10 percent. Get the Full Story Complete the form to unlock this article...
A new patent application from Walmart shows how the retailer can use blockchain to keep track of customer purchases. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
