The HyperLinq Weekly Digest is the one-stop source for the HyperLinq community to access relevant news involving digital assets, where we essentially outline key industry updates that our members may have missed. We are always open to suggestions and feedback so please do not hesitate to let us know what you think!
Harvard University Stages ‘Digital Currency Wars’ Crisis Simulation : Jack Martin | CoinTelegraph
Harvard University’s Kennedy School carried out a live simulation of a White House National Security Council meeting on Nov. 19, featuring former senior administration officials and thought leaders. The "Digital Currency Wars" event examined a potential future scenario, following a North Korean missile test, potentially enabled by China’s proposed digital yuan. The simulation was set two years in the future, with China’s digital yuan having theoretically been launched 20 months previously. With sanctions failing, the Security Council meeting discussed options to put to the president. One of the key points put forward was that the U.S. would at this point be reliant on the Chinese. He also pointed out the 30 years of history in which the U.S. had not been successful in persuading China to use its leverage. The meeting was interrupted mid-way through with another newsflash, this time revealing that the SWIFT system had been cyber-attacked and $3 billion stolen from commercial banks in Germany, Saudi Arabia, and the United Arab Emirates. The more forward-thinking attendees felt that more should be done to ensure the U.S. had a similar digital currency capacity, to resuscitate its financial power. This included the option of putting diplomatic pressure on China to cooperate, use electronic intelligence to highlight North Korea’s sanction breaking, or develop its own digital dollar competitor. The threat of military pressure was also considered as a less desirable option. As American policymakers increasingly engage with the blockchain and cryptocurrency space, several lawmakers have called for rapid regulation and legal certainty for the nascent technology and digital assets, so as not to fall too far behind more lenient jurisdictions.
When Lambo? Crypto’s Favorite Automaker to Track Cars on Salesforce Blockchain : Anna Baydakova | CoinDesk
Announced today, the luxury automaker will use an enterprise blockchain platform from Salesforce to track the authenticity of the cars sold on the secondary market. "When a Lamborghini is resold, the vehicle often goes through 800 to 1,000 certification checks that take place at the Lamborghini headquarters in Sant’Agata Bolognese, Italy," according to a press release published Tuesday by Salesforce. In the future, "each vehicle will come with an immutable record of service, including restoration, prior ownership and more," and each car will be "armed against potential counterfeiting," Salesforce said. Paolo Gabrielli, head of after sales at Lamborghini, said the automaker has always been curious about new technologies despite its long history. The product is provides a framework that allows customers to drag and drop ready-to-use modules to build their own blockchain networks with minimal need for writing code. Salesforce joined the Hyperledger consortium in May. "Blockchain is changing the way companies approach trust and transparency," said Adam Caplan, Salesforce’s SVP of emerging technology.
Tezos Partners With Singapore Gov’t Blockchain Platform for Training Program : Ana Alexandre | CoinTelegraph
Tezos has partnered with Singapore government-backed blockchain platform Tribe to jointly launch a training program for developers on the Tezos blockchain. According to a Nov. The training program is set to roll out in the first quarter of 2020. Commenting on the collaboration, Caleb Kow, president of TSA, said, "by enabling trainers with a good knowledge of Tezos blockchain technology, they will be able to amplify the impact in their respective teams through the continual transfer and sharing of knowledge to new learners." Tezos has previously taken a strong interest in broadening its development community. In late October, the Guangzhou government announced a $140 million subsidy fund to encourage the development of blockchain initiatives. Additionally, the government also plans to set up a nationwide blockchain innovation and entrepreneurship contest with a total fund of 10 million yuan . The Malaysian Ministry of Education also introduced E-Skrol, an application built on the NEM blockchain to deal with the issue of certificate fraud through using blockchain technology.
PayPal Joins $4.2M Round for Crypto Banking Compliance Startup : Zack Seward | CoinDesk
Financial institutions know how to calculate the risk of serving traditional businesses. But for firms touching cryptocurrency, the math is still fuzzy. The assumption of added regulatory hurdles and money-laundering fears have led to a widespread problem: Your average bank would rather just not deal with it. Addressing those concerns with clear-eyed data is how compliance startup TRM Labs wants to accelerate the institutional embrace of crypto. And that’s why a group of investors are backing the blockchain analytics firm to the tune of $4.2 million in new funding. The influx of capital brings TRM’s total funding to $5.9 million after the startup emerged out of Y Combinator earlier this year. It’s only the second blockchain-related investment disclosed by PayPal Ventures and comes just a month after PayPal itself withdrew from the Facebook-led Libra Association. While competing firms like Chainalysis and Elliptic are known for aiding law enforcement, TRM Labs is focused solely on finance. "We’re going to help the existing financial system adapt to this new world so they can effectively engage with it." That doesn’t mean TRM is alone. Chainalysis, for one, already serves the finance sector, apparently to mixed reviews. "The existing providers are trying to tailor products to financial institutions, and we’re just finding they’re not doing a good job of that," Blockchain Capital’s Spencer Bogart told CoinDesk.
‘Crypto is Unstoppable’ — Bitcoin Will Hit $100K, Says Cardano Founder : Adrian Zmudzinski | CoinTelegraph
Ethereum co-founder turned Cardano creator Charles Hoskinson said that he expects Bitcoin to be back over $10,000 and reach $100,000 in the future. In a tweet published on Nov. 22, Hoskinson urged the cryptocurrency community that Bitcoin is more than speculation, putting the blame on the latest drop in price on news media "FUD" — or fear, uncertainty and doubt — and market manipulation. Because there’s more to Bitcoin than just price movements, he expects the world’s biggest cryptocurrency to see more gains in the future. As Cointelegraph reported, Bitcoin and altcoins have seen a notable price decrease yesterday. Still, as Cointelegraph’s market analysis pointed out, Bitcoin dominance is up for the week at 69%, meaning that BTC has once again outperformed other cryptocurrencies during the despite its decline this week. Shortly after the price drop, Bitcoin futures daily volumes on digital asset platform Bakkt have hit a new all-time high, showing an increased interest in capitalizing on the renewed volatility.
Binance Enters Indian Market With Acquisition of Crypto Exchange WazirX : Daniel Palmer | CoinDesk
Binance has made a move into India's potentially huge, but troubled, cryptocurrency market with the acquisition of the WazirX exchange platform. Binance, the top crypto exchange by trading volume, announced the news in a blog post Thursday, but did not provide details of the deal. Since then a number of local exchanges, including Koinex and Zebpay, have been forced to close, with the remainder moving to survive on crypto-to-crypto trading, and avoiding the fiat system. That's a strategy employed by WazirX , which launched earlier this year offering crypto-to-crypto and peer-to-peer trades, says the Economic Times. «The acquisition of WazirX shows our commitment and dedication to the Indian people and strengthen the blockchain ecosystem in India as well as another step forward in achieving the freedom of money,» said Binance CEO Changpeng "CZ" Zhao. There's another potential hurdle for Binance in India, with a government panel said to be mulling legislation that would ban cryptos completely in the country.
Finland Prepares For Bitcoin Ransomware Attack With Cyber Fire Drill : Joeri Cant | CoinTelegraph
The Finnish Population Register Centre is coordinating a simulated ransomware cyberattack on more than 200 Finnish cities and public organizations. On Nov. As part of the operation, 235 public organizations were faced with an activist hacker group that threatened to carry out cyberattacks unless it was paid a ransom fee in Bitcoin by a certain date. According to the organizers, the aim of the exercise is to strengthen the cities’ and organizations' abilities to handle a cyber attack more effectively. In October, the European Union Agency for Law Enforcement Cooperation released its 2019 Internet Organized Crime Threat Assessment report, in which it painted a troublesome picture showing that cryptocurrency-ransomware remains the most prominent cyber attack that European cybercrime investigators are confronted with. In August, Cybersecurity company McAfee Labs released its August 2019 threat report, which noted a significant increase in ransomware attacks in Q1 2019.