News

Visa R&D Arm Develops a Blockchain System That Could Replace Financial Data Aggregators

The Takeaway
  • The research arm of payment card giant Visa has published a paper describing the development of LucidiTEE, a blockchain system for orchestrating sensitive data among multiple parties.
  • For example, the paper outlines a system that would allow banks and fintech applications to share data without relying on intermediary data aggregators.
  • While Europe has relied on legislation like GDPR to set standards for securely sharing customer data, US banks had to develop agreements with data aggregators. 
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Alibaba Denies ‘Partnership’ With Lolli, Highlighting Crypto Industry Pitfalls

On Monday, CoinDesk reported the shopping app Lolli was offering bitcoin rewards to U.S.-based Alibaba shoppers for Singles Day.

Alibaba Group representatives have since denied the “partnership” touted by Lolli CEO Alex Adelman. The fissure revealed a common misconception in the blockchain industry.

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As Bitcoin Cash Hard Forks, Unknown Mining Pool Continues Old Chain

A rogue chain has developed during a planned bitcoin cash hard fork, as an unknown mining pool failed to update to the new chain’s software.

The on-going chain battle, which should be resolved by bitcoin cash’s internal rules, gives an insider look into how proof-of-work (PoW) consensus mechanisms operate.

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Bitcoin Falls Through Key Average as Traditional Markets Hit Record Highs

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  • Strong performances in traditional assets and a lack of new reasons to buy crypto is suppressing BTC’s price.
  • A loss of the 50-day moving average exposes the $8,000 price level.
  • The daily RSI shows that momentum slowing, which could hint at greater selling pressure in the short term.
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Alibaba Offers Bitcoin Rewards Through Lolli Shopping App for ‘Singles Day’

Lolli, an affiliate retail startup that gives online shoppers bitcoin instead of regular cash-back perks, just announced its first Asian partnership with Chinese e-commerce giant Alibaba.

Lolli’s in-browser app allows users to shop through merchants’ websites as they normally would, but earn small bitcoin rewards delivered to the in-browser wallet.

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