Bitcoin

Bitcoin Daily: BlackRock Studies Blockchain Tech, Kairos Unveils Crypto Verification System

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The Shacklewell Lane Mosque in Britain was able to collect in £14,000 ($18,535 USD)-worth of bitcoin and ether for donations, Cryptovest reported. That amount far exceeds cash donations, which brought in £3,500. The contributions come amid the Holy Month of Ramadan, when Muslims traditionally make donations to charity.

In other news, BlackRock Inc. is looking into blockchain: The asset manager has put together a working group to study the technology, Reuters said. The firm is “a big student of blockchain,” according to BlackRock Chief Executive Larry Fink. If BlackRock were to use the blockchain or invest in crypto, it would be a big win for the nascent technology. As the world’s largest asset manager, BlackRock managed $6.3 trillion in assets as of the end of June.

The Swiss stock exchange SIX could offer trading for cryptocurrencies on the company’s SIX Digital Exchange, CCN reported. Even so, the platform is still in development, and a spokesperson said that crypto or digital assets that may be added to the platform “will go through a due diligence process.”

On another note, Kairos unveiled a verification system for crypto transactions that uses biometrics, according to VentureBeat. The technology can verify the identity of a person associated with a wallet to prevent theft from occurring. Kairos Founder and CEO Brian Brackeen said there is a well-defined problem for his product: “There’s so many hacks, so many middleman attacks, and so many people getting faked out by wild addresses — and so many billions of crypto stolen every year.”

In other news, Coinbase reportedly has the go-ahead from two watchdogs in the U.S. to acquire three companies, Bloomberg reported. The Financial Industry Regulatory Authority (FINRA) and The U.S. Securities and Exchange Commission (SEC) gave approval for the crypto firm to buy Venovate Marketplace Inc., Digital Wealth LLC and Keystone Capital Corporation. With the move, Coinbase said in June that it would have the licenses to work as an alternative trading system, registered investment advisor and broker dealer.

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