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Archive for the ‘cryptocurrencies’ category: Page 7

Feb 18, 2021

Single dogecoin account holds $2 billion fortune

Posted by in categories: cryptocurrencies, Elon Musk, humor

Dogecoin may have started as a joke, but one of its holders is sitting on some serious dough.

A single cryptocurrency account contains about $2 billion worth of the meme-inspired coin whose price has been pumped up by celebrities such as Elon Musk, Snoop Dogg and Gene Simmons.

The account holds about 36.8 billion dogecoins — a massive stash that accounts for more than 28 percent of all the coins currently in circulation, according to cryptocurrency data website Bitinfocharts.

Feb 14, 2021

In Nevada desert, a technology firm aims to be a government

Posted by in categories: biotech/medical, bitcoin, cryptocurrencies, finance, government, law enforcement

CARSON CITY, Nev. (AP) — In the Nevada desert, a cryptocurrency magnate hopes to turn dreams of a futuristic “smart city” into reality. To do that, he’s asking the state to let companies like his form local governments on land they own, which would grant them power over everything from schools to law enforcement.

Jeffrey Berns, CEO of Nevada-based Blockchains LLC, envisions a city where people not only purchase goods and services with digital currency but also log their entire online footprint — financial statements, medical records and personal data — on blockchain. Blockchain is a digital ledger known mostly for recording cryptocurrency transactions but also has been adopted by some local governments for everything from documenting marriage licenses to facilitating elections.

The company wants to break ground by 2022 in rural Storey County, 12 miles (19 kilometers) east of Reno. It’s proposing to build 15000 homes and 33 million square feet (3 million square meters) of commercial and industrial space within 75 years. Berns, whose idea is the basis for draft legislation that some lawmakers saw behind closed doors last week, said traditional government doesn’t offer enough flexibility to create a community where people can invent new uses for this technology.

Continue reading “In Nevada desert, a technology firm aims to be a government” »

Feb 11, 2021

Bitcoin consumes ‘more electricity than Argentina’

Posted by in categories: bitcoin, computing, cryptocurrencies

“Mining” for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.


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Feb 11, 2021

Bitcoin to Come to America’s Oldest Bank, BNY Mellon

Posted by in categories: bitcoin, cryptocurrencies

The custody bank said it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.


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Feb 6, 2021

Elon Musk’s Dogecoin Tweeting Has Believers Barking for More

Posted by in categories: cryptocurrencies, Elon Musk, humor

A cryptocurrency that began in 2013 as a joke is suddenly worth a total of more than $6 billion.


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Feb 6, 2021

Cryptocurrencies: Fad or the future?

Posted by in categories: cryptocurrencies, futurism

Governments consider regulation as the popularity of investing in cryptocurrencies grow.

Feb 2, 2021

India proposes law to ban cryptocurrencies, create official digital currency

Posted by in categories: bitcoin, cryptocurrencies, government, law

India plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government.

Jan 30, 2021

Why China is investing heavily in blockchain

Posted by in categories: bitcoin, cryptocurrencies

“Considering the whole industry is still in its preliminary stage, BSN has a long way to go,” Liu said. “It’s expensive to build a blockchain. Different platforms have different structures. Data are not interchangeable. Relevant projects are hard to promote. These problems have yet to be addressed by BSN.”


Last year was a big year for blockchain projects in China after President Xi Jinping called for further development of the technology at the end of 2019, but the country continues to shun cryptocurrencies like bitcoin.

Continue reading “Why China is investing heavily in blockchain” »

Dec 29, 2020

Elon Musk says Mars economy will run on cryptocurrency

Posted by in categories: cryptocurrencies, economics, Elon Musk, law, space travel

Cryptocurrency and direct democracy.


SpaceX recently sparked controversy after stating it would not recognise international law in outer space.

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Dec 27, 2020

Singer Akon is Spending $6 Billion to Build a “Real-Life Wakanda” in Senegal

Posted by in categories: cryptocurrencies, economics, employment, energy, sustainability

Recording artist Akon has big plans for his upcoming smart city in Senegal. The new $6 billion development is called Akon City and will fulfill the star’s wish to provide a refuge for members of the African Diaspora both near and far. In addition to the 2000-acre resort, condos, and stadium, the metropolis is also planned to run on renewable energy and mainly use Akoin—the singer’s own cryptocurrency. After two years of planning and development, Akon has announced that they are breaking ground in 2021.

Akon believes that Africa, and his home of Senegal especially, is long overdue for economic investment. He is calling the forthcoming locale a “real-life Wakanda” and plans for it include a tech hub and “Senewood” to develop the film industry. Imagery by Bakri & Associates visualizes the unusual and futuristic forms that define the development and complement Akon’s forward-thinking choices.

This massive construction undertaking is geared towards stimulating the local economy and creating jobs for local workers. Many have praised this and are excited for the prospect of Akon City. But there are also some skeptics. Papa Massama Thiaw, a councilor and president of the youth commission for Ngueniene, shared that though many community members are optimistic, there is a lot of uncertainty. “The studies that were done were not in collaboration with the commune of Ngueniene,” he says. He also fears that jobs won’t be equally distributed. “I don’t want us to be just day laborers. We have to be among the managers.”

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