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Intuit Develops a Method to Send Bitcoin Via Text Messages

Intuit Develops a Method to Send Bitcoin Via Text Messages

Business and financial software developer from California Intuit has been granted a patent for processing bitcoin installments via text message.

Published by the U.S Patent and Trademark Office (USPTO) on Tuesday, the patent details how a network of virtual accounts could empower two users to transfer funds utilizing their phones. The patent was filed in 2014, not long after the company had launched its QuickBooks Bitcoin Payments service that allowed small businesses to accept bitcoin instead of fiat currency.

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Mike Novogratz's Crypto-Focused Company Lost $134 Million in the First Quarter

Mike Novogratz's Crypto-Focused Company Lost $134 Million in the First Quarter

Mike Novogratz's crypto merchant bank Galaxy Digital released an announcement about a $134 million loss as crypto markets had stooped.

Galaxy Digital’s trading business lost $13.5 million, had $85.5 million of unrealized losses on digital assets and a $1.1 million paper loss on investments, according to its first quarterly report. The young firm also posted $22.9 million paper losses on investments in its principal investing business. read more

Australia Adopting Blockchain to Track Food Supplies

Australia Adopting Blockchain to Track Food Supplies

The government of Australia has given A$2.25 million ($1.7 million) to the Sustainable Sugar Project, as Foodnavigator-Asia reported on July 30.

Blockchain Knows Where It Comes From   

Run by the Queensland Cane Growers Organization, The Sustainable Sugar Project will be using blockchain to track the provenance of sugar supplies within Australia. The technology will purportedly enable purchasers to clearly observe where sugarcane originates from and demonstrate the provenance of the farm. read more

A “Global Sandbox” for Financial Technologies

A “Global Sandbox” for Financial Technologies

Various financial regulators from over the globe are teaming up to facilitate the development of financial technologies including those of distributed ledger – such as blockchain.

The Creation of a “Global Sandbox”

The Global Financial Innovation Network (GFIN) unites regulators from Hong Kong, the U.S., Australia, Abu Dhabi and 7 other members, as the U.K.’s Financial Conduct Authority (FCA) announced.

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Indian State of Telengana Partnering with Mahindra to Create Blockchain District

Indian State of Telengana Partnering with Mahindra to Create Blockchain District

A state government in India is teaming up with a global IT services giant to establish a district devoted solely to blockchain startups.

Favorable Blockchain Environment for Newbies

The information technology department of the Telangana state government signed a Memorandum of Understanding (MoU) with Tech Mahindra thus setting in motion the construction of what they call the country’s first "blockchain district."

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U.K. Startup Accelerator Will Support Blockchain Projects

U.K. Startup Accelerator Will Support Blockchain Projects

Right now is a wonderful moment for blockchain-focused startups willing to expand to the U.K. to do so, and the Department for International Trade detailed, why.  

Greenhouse for Blockchain Startups

In its latest update for businessmen wishing to deploy their firms in the U.K., the Department for International Trade reported that Entrepreneur First (EF), a London-based company accelerating startups, is presently funding blockchain projects, too. EF is a government-recognized firm empowered to approve companies for entrepreneur visas.

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South Korean Government Taking Charge of Blockchain Projects

South Korean Government Taking Charge of Blockchain Projects

The government of South Korea is multiplying its efforts to test the blockchain technology in the public sector by presenting new projects and increasing funding for the next year. 

Doubling the Effort 

The Korea Internet and Security Agency (KISA) – a sub-association of the Ministry of Information and Communications Technology (ICT) – said it intends to increase the number of blockchain pilots in the public segment from 6 to 12 in 2019. 

Next year, the budget meant for blockchain pilot projects will consist of over 10 billion Korean won, which is approximately $9 million. 

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