A summary of some of the widely followed stories on cryptocurrency and blockchain during the past 24 hours.
Iceland Bitcoin-mining Heist mastermind sentenced to 4-year jail term
Sindri Thor Stefansson, the mastermind behind the theft of $2 million worth of bitcoin mining equipment from Iceland, has been sentenced to four-and-a-half years in jail. His six other accomplices were imprisoned for a total of nine years and seven months. Stefansson's case had made headlines around the world as the low-crime, thinly populated European country had become a hot-spot for bitcoin mining.
Crypto Expert predicts the end of ICOs; advent of STOs
Bitcoin and Blockchain technology expert Sean Brizendine said he believes the world is watching the end of initial coin offerings (ICOs), and moving towards the Securitized Token Offerings (STOs). He predicts that by December this year, the bitcoin industry will be cleaned and purged of its bad actors through both self policing and traditional enforcement.
Saudi Arabia, UAE Agree To Launch New Joint Cryptocurrency
The Saudi-Emirati Coordination council, during its first meeting in Abu Dhabi, launched its Strategy of Resolve with seven initiatives in vital sectors for collaboration between both countries, including the Saudi-Emirati Pilot cryptocurrency. The cross-border digital currency will be targeted for banks at an experimental phase. The countries aim to better understand the implications of Blockchain technology and facilitate cross-border payments.
SAP Unveils Blockchain Project To Help Eliminate Counterfeit Drugs
German software giant SAP SE announced the launch of its blockchain-based supply chain tracking system that helps eliminate counterfeit drugs along the pharmaceutical supply chain. The company expects blockchain-based solution helps customers comply with the U.S. Drug Supply Chain Security Act or DSCSA. The legislation requires that by November 2019 wholesalers verify prescription drugs that are returned and intended for resale. The motive behind the act is to protect consumers from fake, contaminated and stolen medication.
Spanish Car Maker SEAT Joins Alastria consortium to Develop Blockchain Products
Spanish Car Maker SEAT joined the Alastria consortium to develop blockchain-powered products and services. By using blockchain technology, SEAT looks to generate an exchange of goods and services without the need to include third parties, and therefore enhance procedural security.
Spanish Port Authority Joins IBM/Maersk's TradeLens blockchain platform
The Port Authority of the Bay of Algeciras or APBA has signed an agreement to collaborate with Tradelens, a blockchain technology-based shipping platform, Europa News reported. Tradelens, which was launched in August last year, was jointly developed by IBM and Danish shipping giant Maersk, to bring transparency in the shipping industry.
Swiss Bank Falcon unveils Cryptocurrency Wallet
Switzerland-based Falcon Private Bank announced the launch of cryptocurrency wallets. The bank's private and institutional clients can now directly transfer digital currencies to and from segregated Falcon wallets, as well as convert them into fiat money. For direct transfers, Falcon currently accepts Bitcoin, Bitcoin Cash, Ether and Litecoin.
Current Prices
As of this writing, Bitcoin is up 0.74 percent or $26.15, trading at $3562.69 on Coinbase. Ethereum is climbing 0.24 percent or $0.27 at $117.21
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