Companies

The market for identity authentication management using blockchain and distributed ledger technology (DLT) is likely to grow to around $11.46 bln by the year 2026 – just six years from today.

As the world shifts from one generation of technology to another, the applicability of blockchain technology only becomes more clearly revealed. The recent advent of 5G technology shows a perfect match with blockchain.

The US is known for its controversial attitude to blockchain and cryptocurrency. Despite speculations about their government exploring the possibility of launching a digital dollar, the country's financial regulators such as the SEC demonstrate hostility against companies working in the sector.

Iran, a country badly hit by US economic sanctions, now looks to crypto and blockchain technology investments as an alternative. Namely, it creates really favourable conditions to boost its cryptocurrency mining industry and attract companies from all over the world.

On May 3, a group of hackers breached popular blogging platform Ghost to mine cryptocurrency on its underlying infrastructure, Salt. This case adds up to a number of other crypto attacks, which became increasingly proliferated since the beginning of global pandemics.

According to the amended law adopted by the Financial Action Task Force, all cryptocurrency-related companies are to register by May 18 or cease their operations. Although the regulation also applies to banks and insurance companies, it is well known as the "Cryptocurrency Law".

The Ukrainian Ministry of Energy offered the Energoatom energy generating company to explore the possibility of cryptocurrency mining using the potential of nuclear power plants.

Since the launch of cryptocurrency and its underlying technology, blockchain, many were puzzled as to how it would revolutionize various sectors of the economy. Now, businessmen have found a new use case for blockchain technology in the sale of used mobile phones.

On April 30, GoogleAds were exposed in sponsoring phishing ads for scam alternatives to crypto exchange CoinCorner. Meanwhile, the company itself failed to secure its spot with the search engine’s promoted ads. Therefore, this puts into question the entire attitude of big tech towards cryptocurrency.