A blockchain association has partnered with the European Commission and University College London (UCL) to coordinate blockchain solution providers in addressing the coronavirus pandemic. The organization, called the International Association for Trusted Blockchain Applications (INATBA), was founded at the behest of the EU last year. Its current effort brings together various public and private entities in a “COVID Task Force,” the purpose of which is to activate blockchain solutions that could fix some of the indirect challenges of the pandemic. Specifically, the task force will identify enterprise blockchain solutions that could improve governmental, social and commercial challenges. As not all …

NEO (NEO) founder Da Hongfei appeared at the Blockdown 2020 virtual conference on April 16, where he spoke about blockchain’s role in the post-pandemic world. The creator of the project dubbed the “Chinese Ethereum” suggested that the world was currently witnessing a pattern of de-globalization. According to Hongfei, blockchain will be the technology that puts humanity back on course to becoming a global community. Hongfei pointed out that blockchain is ideology agnostic, and while different nations may have different financial ideas and concepts, blockchain can be the neutral ground which bridges those gaps: “First of all, blockchain is ideology neutral. …

Bitcoin (BTC) advocates are warning of money losing all sense of value as the United States weighs yet another giant stimulus package. The U.S. would spend $400 billion on new stimulus measures to pay every adult $2,000 a month pocket under a new government plan. Bitcoin 1-day price chart. Source: Coin360 Congressmen: $2K handouts “not just one time” In a live stream on April 14, two Democrat congressmen have submitted the Emergency Money for the People Act, which would ensure a universal basic income for Americans over 16 for at least half a year. “We’ve got to put money in …

Chainalysis held a webinar on April 15 to discuss the impact of COVID-19 on crypto crime. During this meeting, the company revealed that criminals claim to be selling coronavirus-infected blood on the darknet. COVID-19 hurts crypto criminals According to Chainalysis, darknet markets have not been immune to the adverse effects of the pandemic, with a 33% decline in the volume of cryptocurrency sent to scam addresses. Source: Chainalysis Cybercriminals have responded differently to the crisis. Some have shown restraint in following a self-imposed honor-code. Others have dropped to the new levels of amorality. A new low for the darknet In …

The U.S., like much of the world, has closed most non-essential businesses and ordered citizens to stay at home in an attempt to combat the spread of COVID-19. When the time comes for United States governing bodies to reopen the country, the Bitcoin (BTC) price could be impacted. "Once U.S. businesses open up, the key to watch for BTC is how the broader equities market reacts, as Bitcoin has been correlated with them recently," Twitter crypto trader BigCheds told Cointelegraph in a direct message on April 15. "Bitcoin will continue to trade within its own broader channel, but we must …

Bitcoin (BTC) has posted a fresh sign of recovery as its hash rate bounces back to levels from before March’s crash. According to data from monitoring resource Blockchain, as of April 15, Bitcoin’s 7-day average hash rate was 114 quintillion hashes per second (h/s). BTC hash rate hits early March levels The last time the network recorded that total was on March 2. In the ten days that followed, the average hash rate grew to a record of 123 quintillion h/s before the events of “Black Thursday” on March 13 halted progress. Bitcoin hash rate 1-year chart. Source: Blockchain Hash …

The International Monetary Fund (IMF) has published a stark prediction that the unprecedented global economic slowdown triggered by ‘the great lockdown’ will get much worse before it gets better. With Bitcoin (BTC) experiencing a record correlation with the traditional markets, the cryptocurrency needs to break away from the S&P 500 if it has any chance of producing the highly anticipated post-halving bull run. IMF drops global growth estimate by 6.3% On April 14, the IMF published its quarterly World Economic Outlook report, describing the COVID-19 induced lockdown as the worst economic downturn in 90 years and predicting a total of …

We are living through interesting times. At the time of writing, roughly half of the world’s population is on lockdown, with 90 countries in various forms of confinement and the pandemic crashing global stock markets. Although we’ve seen some relief in certain parts of the world, the pandemic is far from over, and there is a tangible fear of a possible global recession. While several easing measures have been adopted by the world’s banks to contain the worst of the economic damage, the pandemic has created a perfect environment for crypto. However, the new measures currently being taken by the …

London-based crypto payment processor Wirex has revealed that it now has over 3 million active users, highlighting the popularity of its crypto-supporting visa card among customers. Wirex is a company licensed by the U.K. Financial Conduct Authority (FCA) which allows crypto users to spend their crypto and fiat currencies using a dedicated Visa card and mobile app. The service has been rolled out in 130 countries, with the card accepted at over 46 million locations. Speaking to Cointelegraph on April 14, Wirex CEO Pavel Matveev said that more and more mainstream users “who are not typically hardcore cryptocurrency users” were …

Square Capital, a crypto-friendly payment firm founded by Twitter CEO Jack Dorsey, is purportedly among the first Bitcoin (BTC)-related companies joining the United States federal emergency lending program. The firm has received U.S. Treasury and Small Business Administration (SBA) approval to become a lender under the federal Paycheck Protection Program (PPP). Square to start rolling out PPP applications this week By obtaining approval, Square is officially authorized to support small businesses by providing them with low-interest loans that can be 100% forgiven if used to cover approved costs. Jackie Reses, head of Square Capital, tweeted April 13 that the firm …

Court filings show that New York federal judge Jed Rakoff has rejected the request of a 61-year-old toy merchant-turned Silk Road vendor for a compassionate release amid the coronavirus pandemic that has claimed the lives of more than 10,000 New Yorkers. Judge Rakoff found that the inmate had failed to present an “extraordinary and compelling” case for his release on April 13. The former Silk Road vendor, Hugh Haney, had requested a temporary release on April 8. His representation, Martin Cohen, argued that the Manhattan Metropolitan Detention Center was on the verge of a severe COVID-19 outbreak — asserting that …

The Federal Bureau of Investigations (FBI) expects a rise in the number of crypto scams related to the coronavirus pandemic. In a April 13 press release, the FBI warned that the increase of “cryptocurrency-related fraud schemes” would only be facilitated by more people getting on board with crypto. The elderly are particularly vulnerable, but the agency is reporting people of all ages could be victimized by such scams. “There are not only numerous virtual asset service providers online but also thousands of cryptocurrency kiosks located throughout the world which are exploited by criminals to facilitate their schemes. Many traditional financial …