News of the Week

Brazilian President Doesn’t “Know What Bitcoin Is”

The president of Brazil, Jair Bolsonaro, said in an interview, that he doesn’t know what Bitcoin is, despite the hype that Bitcoin is causing in the country, a phenomenon that has been increasing over the past few years. The president’s statements came as he explained why he shut down a project of $11.5 million to promote a cryptocurrency for indigenous communities. When asked by a member of the public if he even knew what Bitcoin was, the president responded: “I do not know what Bitcoin is.” Jair Bolsonaro is known for his denigrating statements, which have made him highly popular in Brazil’s extreme right-wing sectors.

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Facebook Has 100 Blockchain Staffers Now Working on Crypto

It seems that Facebook’s crypto is finally right on the horizon. Reported by TechCrunch, a source claims that the technology company is looking to release the white paper for what is known as “Globalcoin” on June 18th. This has seemingly been confirmed by a Facebook executive, who discussed the June 18th date previously. As Globalcoin nears launch, Facebook has purportedly begun to bolster its staffers in the cryptocurrency space. The firm, according to LinkedIn data, has a jaw-dropping 100 people working in the Facebook Blockchain division and is looking for forty more talents to fill in some gaps.

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Bitcoin Mining Is Mostly Powered by Green Energy

Contrary to popular opinion, it appears that Bitcoin mining might not be as bad for the environment as people think. In a highly detailed report, CoinShares research reveals that 74% of mining activity runs on renewable energy.

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Google Buys Looker for $2.6 Billion

Google announced this morning its intent to acquire business intelligence platform Looker for $2.6 billion in an all-cash deal. Google plans to add this to the services portfolio of the Google Cloud platform, providing the last mile link into BigQuery. While Google has carved out a reputation for machine learning and AI, the acquisition of Looker is intended to broaden its portfolio in business intelligence. The acquisition of Looker follows the recent acquisition of Alooma, which adds ETL tools, and the earlier acquisition of Cask Data, which has resulted in the Google Cloud Data Fusion data pipelining tool.

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Kodak Reveals Blockchain Document Management Platform For Business with 40% Cost Savings

Kodak is progressing with a new blockchain offering for businesses called Kodak Services for Business. This week the company unveiled a blockchain-based document management platform. The use of blockchain technology is intended to help businesses, as well as governments, to keep sensitive documents safe and secure. It also claims to offer automated workflows and archiving providing real-time access to records and documents. The blockchain technology is also estimated to offer cost savings of upwards of 40% because of its ability to mitigate the loss of data and increase overall efficiencies.

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Bitcoin Clone Surged 800%

Bitcoin clone is leading the cryptocurrency market today with triple-digit percentage gains in the last 24 hours. So-called Bitcoin 2 (BTC2), an aptly-named Bitcoin fork, made a splash by leading the cryptocurrency market with an almost 800 percent gain in 24 hours. After quietly launching last year, this new cryptocurrency quickly rose through the market cap ranks today to crack the top 100. Although Bitcoin 2 is experiencing impressive growth, it’s occurring with only $35,000 of the daily trading volume.

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