HSBC says it’s made the world’s first trade finance transaction using blockchain

HSBC claims it has performed the world’s first commercially viable trade finance transaction using blockchain technology by issuing a letter of credit for the U.S. food and agriculture firm Cargill.

The trade finance transaction involved a bulk shipment of soybeans from Argentina to Malaysia. The letter of credit was issued from HSBC to Dutch lender ING.

In our report earlier this year which exposed the cartel behaviour of the UK’s banks titled “British banks strangle UK crypto-startups”, we found that HSBC was edging towards crypto adoption stating: “HSBC is monitoring the development of virtual and digital currencies such as Bitcoin as well as regulations governing their use.”

Read more at CBRonline.

Deloitte Blockchain Boss Departs To Build Ethereum Supply Chain

Eric Piscini, the man who helped turn Deloitte’s global blockchain practice into a $50 million operation has left the company to join startup Citizens Reserve who are aiming to raise $300 million to rock the supply chain world with blockchain tech.

Read more at Forbes.

Repair your crypto-damaged body

Fix that hunchback, forward head and those other horrible ailments crypto trading has inflected on your body. Crypto trading is the new smoking!

Find out how to reverse the damage here.

CBA CFO quits cryptocurrency role

Commonwealth Bank chief financial officer Rob Jesudason has resigned after less than a year as chief operating officer of EOS.

Read more at News.com.au.

Thailand Creates Tough New Crypto-Currency Law Which Includes Fines and Jail Terms

Thailand’s Security Exchange Commission (SEC) will be in charge of overseeing and regulating all crypto-currency transactions and verifying the identity of clients.

Read more at Chiangraitimes.

https://www.chiangraitimes.com/thailand-creates-tough-new-crypto-currency-law-which-includes-fines-and-jail-terms.html

OKEx becomes world’s largest crypto exchange, CEO resigns to “start a new life”

Chris Lee CEO of the cryptocurrency exchange platform OKEx, has resigned due to ‘personal reasons’. OKEx recently overtook Binance as the largest cryptocurrency exchange in the world with a 24 hour turnover of $2 billion.

Read more at Chepicap.

Decompiling the ElectrumPro stealware

Copycat wallet service “Electrum Pro” has shut down its website after the company it was attempting to impersonate released evidence demonstrating its software was “bitcoin-stealing malware.”. The software stole customers seeds by sending them to a website out of there control. Get those coins out ASAP!!!

IOTA will integrate Ledger support

IOTA enthusiasts will soon be able to store their assets on the Ledger Nano S devices in Q3 of 2018 according to IOTA Foundation member Navin Ramachandran. In our Ledger Nano vs Trezor guide, both devices compared fairly well but the Ledger scraped a win with the wider coin support.

Read more on the IOTA Ledger post.

Reserve Bank of Zimbabwe Bans the Country’s Only Monetary Hope: Bitcoin

Buying life’s daily necessities in Zimbabwe is a trillion dollar affair due to the hyperinflation of its national currency. Because of this Bitcoin was seen as a savour for many and probably still will as its driven underground on the back of news coming from the Reserve Bank of Zimbabwe who has given 60 days notice to financial institutions to end relations with bitcoin businesses.

Read more at BTC Manager.

Gemini is now the world’s first licensed Zcash exchange

In a blog post over the weekend Gemini has said they have been working closely with the New York State Department of Financial Services (NYSDFS), Gemini is the first licensed Zcash exchange in the world. It also makes the NYSDFS the first regulatory agency in the world to supervise Zcash,

Read more at Gemini.