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New possibilities for cryptocurrency. The Segregation Witness scaling update has been introduced to Litecoin. The miners are in the process of voting on the update, which currently is on 3% level, while bitcoin’s support has already climbed up to 22%. The Segregation Witness update is also supported by Litecoin’s creator Charlie Lee, who supported it in a recent Reddit AMA, where he stated on importance "to pull the politics out of the SegWit on Litecoin" and "not let Bitcoin politics pollute Litecoin for no reason".
Find out more about Litecoin SegWit in article: Litecoin SegWit Can Open a New Frontier for Blockchains
Microsoft joins the great blockchain coalition. Microsoft Corp. and several other major technology companies and banks are forming an ‘Enterprise Ethereum Alliance’ to accelerate the adoption of Ethereum blockchain database technology in corporations and enterprises. Collaboration with companies like Microsoft, would allow Enterprise Ethereum Alliance to see the number of adopters in the corporate space. According to Bloomberg, the companies have been working on the Alliance for months and intend to launch the project in February 2017.
Blockchain platform and Emercoin cryptocurrency implements mining, combined with Bitcoin - Merged Mining in the wallet’s 0.6.0 update , - reported Ivan Kuznetsov, representative of Emercoin, in an interview to news portal Forklog. In the new version a non-critical vulnerability of Proof-of-stake algorithm called “double voting” is being fixed. Besides that, bug, leading to the hanging of the wallet with a large numbers of transactions is remedied. Developers have also launched a merged mining option. Emercoin and Bitcoin miners would be able to simultaneously earn two cryptocurrencies without any malfunctions in a platform, both digital currencies are based on the SHA-256 algorithm.
The developing of FinTech in Scotland. A specialist fintech hub, backed by the UK and Scottish governments, will open in May 2017. This hub will be the first of its kind in Scotland and will be based in Entrepreneurial Spark at Royal Bank in Edinburgh. The hub is set to become a centre of excellence for fintech sector of the United Kingdom and estimated to be worth up to £6bn to the country’s economy.
The development of the first robo accountant. Netherlands bank ABN AMRO teams up with Dutch invoice management firm InvoiceSharing to create a FinTech solution for small and medium enterprises. The robo accountant tool will check invoices, generate journal entries and export the invoices to the business accounts. The companies are expected to process from ten to twenty times as many invoices a year while helping to reduce costs by 50%. Jeroen Volk, Invoice Sharing’s CEO, noticed: «We want to help as many entrepreneurs as possible make their business smarter, so they can anticipate and play into future challenges.»
Rate of Bitcoin dropped down. After the several Chinese exchanges stated on the suspension of Bitcoin’s withdrawal, rate of cryptocurrency faltered. In less than 24 hours value of Bitcoin had fallen $100. Let us remind that yesterday OkCoin Huobi announced the suspension of Bitcoin’s withdrawals for a month at the request of local authorities. The decision stands as a consequence of the changes in the regulatory policy of the region along with the need for compliance with the anti-money-laundering legislation.