What is NEM / XEM?

  NEM is a peer-to-peer cryptocurrency and blockchain platform, the currency symbol is XEM. NEM is the world’s first “Smart Asset” blockchain, the “blockchain for enterprise” with a low transaction fee of 0.01% and very scalable.     NEM was started by a BitcoinTalk user, UtopianFuture, who was inspired by the cryptocurrency NXT. Work started on 19 January 2014 to create a community-oriented cryptocurrency.     Unlike most other cryptocurrencies which are forked off existing codes and later altered, the NEM code was written from the ground up in Java…

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Two Bitcoin Exchanges shut down as Regulators tighten grip in Japan

A shakedown is happening in Japan as regulators tighten their grip on Cryptocurrency exchanges.     As per Japanese Law, all cryptocurrency exchange operators are required to register with the FSA – Financial Services Agency, and as reported by the Nikkei Asian Review, of the thirty-two exchanges in Japan, half have registered while the other sixteen continued to operate under review. Tokyo GateWay and Mr. Exchange are the two exchanges withdrawing their applications to register.   Just one year ago, on 1 April 2017, the Japanese government passed into law…

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What is the Current State of Global Cybercrime?

Cybercrime is a global threat as predicted by Ginni Rometty, IBM’s chairman, president and CEO, in 2015:- “We believe that data is the phenomenon of our time. It is the world’s new natural resource. It is the new basis of competitive advantage, and it is transforming every profession and industry. If all of this is true—even inevitable—then cybercrime, by definition, is the greatest threat to every profession, every industry, every company in the world.”     These worlds are certainly ringing true and recently, RSA published the 2018 Current State…

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Binance sets Hacker Bounty at $250,000 USD

On 7 March 2018, users on the Binance cryptocurrency exchange noticed irregular behavior.     Binance was alerted and managed to reverse the transactions, however, it is vital they understand just how hackers could have sidestepped their security and also, the Binance Two-Factor authentication system.  See more Reddit comments here     In response to the hack, Binace issued the following statement”   “To ensure a safe crypto community, we can’t simply play defense. We need to actively prevent any instances of hacking before they occur, as well as follow through…

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Free Bitcoin at Japanese Exchange

TOKYO (Reuters) – A blunder at a Japanese cryptocurrency exchange let investors briefly buy bitcoins for free – though none were able to profit from the mistake.     Reuters reported that Zaif, a government-registered exchange run by Osaka-based Tech Bureau Corp, said on Tuesday that a system glitch had let seven customers buy bitcoin with no yen value during a 20-minute window last week.   The trades were voided by the exchange but the issue was unresolved as one customer tried to transfer the purchased Bitcoin.   Full Story:…

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