TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Federal Reserve (Fed) chairman suggests Facebook Coin Libra will have a tough road, tanking markets across the board. Goldman Sachs is hiring new digital asset project managers. Turkey to implement central bank cryptocurrency as part of its 11th development plan. Zimbabwe bitcoin trading rises as a result of a newly exerted foreign currency ban. Samsung launches blockchain SDK, and BitMEX research finds a block re-org.
Fed Chairman Bashes Facebook Coin Libra
Jerome Powell, chairman of the Fed, declared he had serious concerns about Libra, the cryptocurrency project backed by Facebook, during a hearing with the House Financial Services Committee. Powell declared: “I just think it cannot go forward without there being broad satisfaction with the way the company has addressed money laundering,” and added that issues like data protection and consumer privacy should be addressed in a very thorough way, and so there “will not be a sprint to implementation.” Market analysts are widely attributing his skepticism to a near-immediate slide in prices across the board.
Goldman Sachs is Hiring to Revamp Blockchain Services
Goldman Sachs is hiring a new digital asset project manager for their blockchain division, called Accelerate. The job description says the employee “will play an integral role in helping define both the scope and direction of the business,” to help them “go further than ever before.” It also explicitly states the candidates for this role should have “experience in blockchain and digital asset product development.”
Turkey Economic Roadmap Proposes Central Bank Cryptocurrency
The age of central bank Cryptocurrencies could be here sooner than we think. Now Turkey is considering launching its own as a part of the 11th development (2019 through 2023) plan to improve the national economy. While it does not give many details about how this will be implemented, it also states blockchain technology will be leveraged for use in transportation and customs, and to improve several public services.
Zimbabwe Bans US Dollar; Bitcoin Trading Reborn
A new measure taken by the government of Zimbabwe banning the use of foreign currencies (including the US dollar) to settle local transactions has resulted in a resurgence of the bitcoin trading market. Peer-to-peer transactions on LocalBitcoins has surged even though over a year ago the central bank forbade banks to process bitcoin-related transactions.
Samsung Introduces Blockchain SDK
Samsung launched a new Blockchain Software Development Kit to help programmers build apps leveraging decentralized resources. Now, developers who want to develop decentralized apps for Samsung devices will only have to link their apps to already existing Samsung software like Keystore. Keystore will manage transactions natively and will also provide several services like a fiat-cryptocurrency exchange rate, cryptocurrency prices, ERC token information, and transaction histories.
BitMEX Research Finds Chain Chain Reorganization
Our Bitcoin SV node experienced a 2 block chain re-organisation today, at around 4am UTC
One of the orphaned blocks was around 62.6MB in size, which may have caused the issue
— BitMEX Research (@BitMEXResearch) July 10, 2019
BitMEX Research, the investigative arm of the exchange, caught a reorganization of a Bitcoin SV node. Possible cause of the reorganization was the size of one of the orphaned blocks, 62.6 MB. Though no user was impacted and no double spending was detected, BitMEX also clarified orphaning blocks makes “the network lose security by having lower difficulty than it otherwise would, making future attacks cheaper.”
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