Blockchain technology news

Criminals have recently been very cautious in conducting their illegal activity, as the number of cases solved by police has increased. For example, officials have caught three suspects of a large cryptocurrency theft in China. They stole almost 600 million Yuan ($87 mln) in virtual coins.

The amount of power consumed by Bitcoin mining isn't the world environmental crisis it is usually made out to be. This is according to the professional assessment carried out by Katrina Kelly-Pitou, who is a research associate in computer and electrical engineering at the University of Pittsburgh.

The world Blockchain survey shows that nearly 40% of the respondents were believing that Blockchain was "overhyped."

From July this year, things resembling Ponzi schemes, fraudulent schemes where earlier investors are paid with the money taken from new investors, giving the impression that the scheme is a viable investment, have flooded the charts among decentralised applications (dapps) operating on the global's second-biggest Blockchain, exceeding even the pace of famous CryptoKitties.

Skycoin, a decentralized blockchain company are looking to expand their scope by breaking into the Korean market.

Hong Kong-based IT company Libellum Ltd has announced the launch of its innovative new supplier verification, product certification, and compliance platform. Libellum aims to make purchasing from China as secure as possible by blockchain technology as well as partnering with the world’s largest third-party testing companies. E-commerce and Third Party sellers are growing rapidly and the need for verified suppliers is growing exponentially, as many buyers fall victim to the scams of illegitimate suppliers.

ConsenSys has officially launched a 12-week Ethereum Blockchain developer programme in full support of one million (1m) Arab Coders, a development by the Dubai Future Foundation, created to array and fully equip juvenile Arabs with coding skills and education.

Kaspersky Labs has recently conducted research proving that Ethereum is the most frequent digital currency used for fraudulent activity. Being the most well-known cryptocurrency after Bitcoin, Ethereum seems to be the perfect option for scammers to perform illicit business and remain anonymous.

In the industrial revolution 4.0, Blockchain is considered as the key technology for digital transformation and building of information technology platforms in the future. Thanks to its unique features, Blockchain technology will open up a potential application trend in many areas, first of all in the field of Game.