Ping An To Invest $15B in Blockchain and AI Development

Ping An Insurance Company of China, Ltd. plans to invest about $15 billion in further development of blockchain and artificial intelligence (AI) in order to become the leader in the financial services space.

The representative of Chinese conglomerate stated that their investments are always paying off. Moreover, the company has already “established global leadership in the cutting-edge technologies of AI, blockchain and cloud computing, which will be driving innovations in the financial industry for years to come.”

During the Investor Day held in Hong Kong, Ping An mentioned the most extensive commercial distributed ledger technology (DLT) network in the world. The company explained why it was so good. This DLT technology is able to complete nearly 50,000 Transactions Per Second (TPS).

We hope that this company continues its further development, while we remind you about

Blockchain Specialists Receive the Highest Salary Among Software Developers

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Chinese Miners are Disconnected From the Grid

According to the CNN, due to tax inspection, Chinese establishment have suspended their work.

The Ministry of Public Safety (China) demand that the mining farms,  which are located in the Chinese provinces of Xinjiang and Guizhou, accept the agreement that they will work in accordance with the new, tough rules. The requirements include the denial of services of unregistered  clients.
During the audit,  mining farms were disconnected from the grid, as a result they lost 1 million yuan daily, about 143 700 dollars.

The Tax Inspectorate has already completed the investigation, but the power supply to mining farms still has not been connected.

It should be reminded, we reported earlier that Chinese Middle School Managers were mining Ethereum.

Administartion of Chinese Secondary School Was Mining Ethereum: Details of Crime

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Crypto Master Minds That Made It Into Forbes’s 30 Under 30

One of the most famous editions in the world, Forbes, came out with its annual rating of the most influential people under the age of 30 in different spheres of activity, including healthcare, music, art, retails and many others. This time the section of “finance” was replenished with a couple of blockchain and crypto personalities, namely:

1. JB Rubinovitz (26) is a crypto entrepreneur whose goal is to incorporate crypto mining as a way to provide bails for arrested people.

2. Olaoluwa Osuntokun (25) is one of the founders and a Chief Technical Officer of the company Lightning Labs. He raised $2.5 million to develop Bitcoin as a fully usable means of payment.

3. Hunter Horsley (28) is a CEO of the company Bitwise Asset Management. His firm specializes in creating crypto indexes.

4. Nader Al-Naji (26) and his company Intangible Labs are currently working on a concept of a cryptocurrency that could easily replace the usual banks.

We remind you:

Forbes Launches Its Own Version of the CoinMarketCap

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

A Major Twitter Scam Made Target Promote a Bitcoin Giveaway

Twitter scammers are getting more and more intricate to make their fraud look like it’s not fraud. This time another scam involves a couple of popular brands (and, surprisingly, not Elon Musk).

A couple of unknown crypto criminals started spreading a tweet, encouraging the community to participate in a BTC giveaway. The scammers promised to give out $30 million worth of crypto. The tweet were quickly deleted, but some members of the crypto community managed to capture it.

The most interesting part of this whole scam is that its organizers allegedly hacked account of such popular companies as Target, The Body Shop, AHDB etc. and used them to endorse their endeavour.

There seem to be no other details on the victims of the scam or whether the hackers were caught or not.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Stellar Has Outrun EOS and Became the 5th Top Cryptocurrency

The top-5 cryptocurrencies, according to the rating of the CoinMarketCap, has remained relatively unchanged for quite a while. Although, Ripple tried to compete with Ethereum for the second place, ETH managed to keep its ground.

Now the time has come for a major change. The token EOS has left top-5, giving its place to Stellar.

Some experts believe that such a drastic increase of Stellar could be due to its $125 million worth cooperation with the crypto wallet provider Blockchain.

We remind you:

Stellar: How It Was Created And What Are Its Predictions

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Authorities of the Crimea Are Planning to Launch a Blockchain Cluster

According to the Russian news outlet, there might be a blockchain cluster created in the special economic zone in the Crimea. Such a proposal was put out during the Yalta International Economic Forum that took place in Moscow.

As stated by the representative of Crimea, Georgi Muradov:

Last year we started discussing the blockchain technology and planned the creation of a cluster, a blockchain cluster in the form of a cryptocurrency investment fund.

Such a move towards innovative technologies might be an attempt to avoid sanctions from the West and lure in overseas investments.

We remind you:

Rosfinmonitoring Took Control of Cryptocurrency Turnover in the Russian Federation

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Bitmain Is Suing a Person Who Allegedly Stole 617 BTC from Them

A major Chinese company Bitmain, specializing in producing mining equipment, has filed a lawsuit to the court, claiming that an unknown hacker has broken into their account on the crypto exchange Binance and got hold of over 600 Bitcoins. Thus, Bitmain suffered the loss of over 5 million dollars.

Although the criminal has not yet been identified, it is known that he or she did not transfer the digital assets to a separate account or wallet. Instead, the hacker used the money to boost the rate of a little-known cryptocurrency MANA, which can be seen on the CoinMarketCap price chart.

Currently, the representative of Bitmain are negotiating with Binance on the issue of revealing the identity of a possible hacker.

We remind you:

AT&T and T-Mobile Are Sued by the People Affected by the Sim Swapping Hacking Attacks

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/