Alibaba’s Subsidiary Will Allocate $14 Billion to Develop the Blockchain Technology

alibaba blockchain

Ant Financial which is an affiliate part of Alibaba and a parent company of the well-known Alipay held an impressive fundraising of $14 billion. The money raised will go for advancing and developing the technological sector of the company, the blockchain technology in particular.

The funds were raised due to a large flow of investments. $11 billion out of the whole sum came in US dollars, while the remaining $3 billion were in Chinese yuan. The biggest investment equalled unbelievable $500k.

According to the company’s CEO, Eric Jing, blockchain is the cornerstone of trust for the digital society in the future.

Blockchain will not be the only focus of the company. Ant Financial is also going to work on implementing artifical intelligence, Internet of Things into its operations, excelling computing powers and exploring new possibilities for changing things for the better.

Since the Chinese government has officially banned all the operations with cryptocurrencies, as well as token sales and ICO platforms, the companies have turned to the one part of the digital world that hasn’t been restricted yet – blockchain.

We would like to remind you that another subsidiary of Alibaba, T-Mall, is also using blockchain to improve its shipment system and to track goods in the chain.

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MasterCard Will Use Blockchain to Upgrade Business-to-Business Transactions

mastercard will use blockchain to upgrade b2b transactions

A worldwide payment system company MasterCard received an approval from the US Patent and Trademark Office regarding the application submitted in March of this year.

As we reported earlier, MasterCard got green light from the Office and started developing its own blockchain:

Mastercard Received a Patent on a Coupon Authenticating System on Blockchain

Now the company is directing the powers of this technology to improve and secure B2B transaction within its framework. According to their new patent:

There is a need for a technical solution to provide a disruptive, uniform settlement system which can reduce the amount of processing as well as the amount of communications and fund transfers.

This technical solution is the blockchain technology.

We remind you:

Would Ripple Not Be As Successful If It Hadn’t Been for Mastercard?

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McAfee Birthday Collection: Top-5 Eccentric Statements, Promises, Innovations and Scandals

john mcafee birthday compilation

The editorial board of The Coin Shark wishes happy birthday to the most unconventional crypto personality John McAfee and hopes he will thrive and please the crypto community for many more years.

For this occasion we decided to compile the loudest things that McAfee has said or done this year.

1. There is no doubt that the wildest promise of John McAfee remains his infamous claim about the price of Bitcoin in 2020. The interesting part is, of course, related to the physical tortures that McAfee is ready to face if his predictions turn out to be wrong.

2. Another loud claim of McAfee was his firm intention to run for presidency during the next election. Given the low levels of popularity that the current US President is coping with, we believe that anything might happen at this point. Politics aside, no doubt that the crypto world will be thrilled to have such a president.  

3. We could not leave out the epic with McAfee’s crypto wallet Bitfi. Was it really hacked? Was McAfee planning to give such a pricy award? We don’t know. However, what we do know is that the story brought a whole lot of attention to the wallet, so maybe it was an ultimate goal in the first place.

4. The CoinMarketCap should beware, because John McAfee is on its toes. His own site with market capitalization and cryptocurrency exchange rates is already functioning.

5. Last, but certainly not least comes the McAfee crypto challenge. Brilliant minds with innovative crypto solutions can join his team to improve and develop the crypto world together.

Anyway, even if John McAfee does not eat any parts of his body or loses the run for presidency, he will always remain one of the brightest stars of the crypto universe. Happy birthday, John!

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A Bitcoin Challenge Started Out in China: 21 Days With 0.21 BTC. Why Was It Stopped After Just 3 Days?

bitcoin challenge in china

We all have seen these shows where a person needs to survive a certain period of time with a limited amount of money in different locations. The Chinese TV decided to take it even further and add a new twist to the story.

A girl named He You Bing took up a challenge, during which she had to survive 3 weeks only having 0.21 BTC (approximately 1300 USD). That was all the money she had for food, dwelling and satisfying basic needs.

Considering the prices in China and also the fact that He You Bing carried out the challenge in megalopolises like Shanghai and Shenzhen (which are even pricier), it would seem quite an impossible task to complete.

However, if we think of the situation with cryptocurrency in China, here came another trouble for the girl, which was way more serious than the little amount of money.

He You Bing simply couldn’t find establishments that accepted BTC as a means of payment. She went from place to place, but most of the times very few people even knew about Bitcoin and cryptocurrencies in general, let alone accepted it. As a result, she had to eat wild fruits from the trees, free samples from shops and sleep in 24/7 cafes.

By the end of the 3rd day the challenge had to be stopped, and He You Bing had to be taken to the hospital due to starvation symptoms – the girl was on the verge of losing consciousness.

However, she reached ones of her goal – the challenge attracted attention of the public, thus, raising cryptocurrency awareness in China. Hopefully, next time the girl will choose less radical methods to do so.

We remind you:

McAfee Cryptocurrency Challenge Is Going Live

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Do Not Sell Ethereum: Top Original Clothes Prints in Support of Cryptocurrency

Due to the latest changes in the cryptocurrency market and the news that Ethereum is dying, Vitalik Buterin is trying hard to support cryptocurrency. The Coin Shark editorial board also decided not to stay away and cheer the fans of ETH, as well as all holders of other coins. We present a selection of original things and accessories that we found on the web.

1. The Holy Vitalik

Vitalik Buterin, no doubt, has achieved incredible success in the field of cryptocurrency. Therefore, we completely agree with this image of Ethereum’s founder.


Source: https://www.redbubble.com

2. Almost Nike: JUST HODL IT

The famous slogan of the world-famous sportswear and footwear manufacturer Nike, suits the situation on the crypto market perfectly: just hodl ETH.

Source: https://www.redbubble.com

3. Do not let ETH go
It is sad to watch those selling cryptocurrency, and then, in the future, not only it restores its positions, but also grows in price. A girl with a balloon symbolizes a lost dream or, in this case, an Ethereum coin.


Source: https://www.redbubble.com

4. Time to buy Ethereum

These watches always show the right time. It’s time to buy cryptocurrency.


Source: https://www.cryptoclothe.com

5. Keep calm and hodl ETH

As you know, hodler is the slang name of an investor who buys cryptocurrencies and does not sell them, regardless of the situation on the market. This is what the well-known print reminds us of.

Source: https://www.cryptoclothe.com

Besides the images of Ethereum, various accessories, clothing and decorative objects are also produced in support of both Bitcoin and other digital coins.


Source: https://allthingsdecentral.com

 


Source: https://www.redbubble.com

 


Source: https://www.redbubble.com

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Bitmain, Goldcoins and Delphy Under Censorship: WeChat Limits Crypto Accounts Again

The Messenger WeChat continues to block accounts related to cryptocurrency. If in August these were media accounts, this time the messenger decided to ban Bitmain and crypto analysts Goldcoins and Delphy.

The official sales account of Bitmain (WeChat ID: antminersale) was limited for using on September 10, when searching for this page, a statement appeared proving the inconsistency of publications with the rules of the messenger.

Following users’ complaints, the platform has reviewed and discovered that this account – without having acquired authorized credentials or licenses – has been publishing and distributing information of relevant businesses it is involved in.

 

block china

Source: https://www.coindesk.com/

At the moment, the official account (WeChat ID: antminer_official) remains active.

The official account of the crypto market analyst Goldcoins was also banned in WeChat. This was confirmed by representatives at Zhihu (the Chinese analogue of Quora). Goldcoins performed a comprehensive analysis of cryptocurrency in WeChat for 9 months.

Delphy also suffered from censorship. It is an application based on Ethereum, which works similarly to Augur. The main reason is, like Bitmain, the discrepancy with the rules for using WeChat.

We want to remind you that:

Chinese Traders Bypass Government Bans With the Help of VPN and Tether Cryptocurrency

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Chinese Traders Bypass Government Bans With the Help of VPN and Tether Cryptocurrency

the chinese still trade crypto

Legal cryptocurrency trading in China is currently very difficult to access. Due to the recent restrictions of the Chinese government in the field of crypto trading, Chinese users have to look for new ways to implement it.

According to the report of South China Morning Post, traders solved this problem using VPN and Tether cryptocurrency. Chinese traders use “client to client” trades, which operate on conventional e-commerce platforms. Two users, confirming each other through the procedure “know your customer” (KYC), exchange the non-fiat currency for Tether, which is less volatile than Bitcoin. Meanwhile, the crypto exchanges only observe, reacting only in case of an error in the transaction. After Tether is received, traders use the VPN for trading on foreign exchanges.

While the servers of trading platforms are not located in China, and transactions remain decentralized, a complete ban on crypto trading remains the main problem for the Chinese government.

Moreover, experts argue that the process of banning VPN is also very long, as it takes a lot of time for negotiations with various stakeholders to reach a consensus on setting up the “Great Chinese Firewall.” Therefore, while the VPN works on the territory of China, traders will be able to exchange cryptocurrency abroad.

We want to remind you that:

China No Longer Cooperates with Foreign ICO Platforms

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