Global debt has surpassed $250 trillion. That’s 320% of gross domestic product, announced the Institute of International Finance on Nov. 14. Emerging market debt also hit a record $71.4 trillion, 220% of GDP. This has set off alarm bells. After all, the projected year-end amount of $255 trillion is equal to $32,500 for each person on the planet, or $12.1 million per Bitcoin (BTC), as Cointelegraph reported. But, as mind-boggling as it may appear, is this total debt really so bad? Debt, after all, can stimulate growth, enabling a country to build roads, bridges, canals and universities, as well as …
Decentralized identity startup Civic and blockchain security firm BitGo plan to launch a new wallet using BitGo’s multisig technology in Q4 2019. In a press release shared with Cointelegraph on July 23, the two firms revealed that the forthcoming Civic Wallet will host hold both cryptocurrency and identity data on mobile devices. Control and security over funds and personal data In the press release, Vinny Lingham, co-founder and CEO of Civic said that “we’re building a new financial and identity ecosystem.” Lingham further expressed enthusiasm for lowering the barrier to entry into the blockchain sphere for consumers. Using BitGo’s multisig …
The world of cryptocurrencies and banking crossed paths once again at the Money20/20 conference in Europe on June 4-6. Fintech companies and financial service providers came together at the conference to talk money and technology − in particular, how the two can come together in a more efficient way. Since cryptocurrencies have entered the mainstream, largely due to a breakout year in 2017, both the fintech and financial sectors can no longer ignore the possibilities created by blockchain technology and digital currencies. A particular highlight of the Money20/20 Europe showpiece was a discussion panel titled “Cryptocurrency, the central (bank) question”. …
In a maturing ICO market, it is no longer enough to simply deliver an offering; technical integrity is now the ultimate status symbol. As the past two months in the history of the burgeoning token industry demonstrates, real faith in the longevity of the companies behind the coins is difficult to secure. Frenzied buying, shorting and dumping by casual traders is no measure of a token or provider’s worth, something which is only now being addressed by a handful of cryptocurrency businesses. Civic’s balance of success and reputation Chief among the recent ICOs gaining wide recognition for technical innovation was …
Seven major crypto companies — Binance.US, Circle, Solana Foundation, The Aave Companies, Hedera, TRM Labs and Civic — joined hands to launch a community-driven scam reporting tool. Named Chainabuse, the tool aims to enable crypto users to issue warnings and discuss ongoing fraudulent activity such as scams and hacks in real-time. Launched on Wednesday, the Chainabuse platform aims to counter the ongoing scams plaguing the crypto ecosystem. On May 4, Cointelegraph warned the community about the rise in Ape-themed airdrop phishing scams. Chainabuse serves as a one-stop-shop platform for crypto users, victims of financial crimes and crypto businesses to actively …