BitPay makes scandalous announcement on SegWit activation

BitPay makes a scandalous announcement on the upcoming SegWit activation
18 August 2017   3565

BitPay, one of the world's leaders in Bitcoin payments, made an announcement concerning the recommendations on the need to update the software of the nodes before the next week activation of the Segregated Witness (SegWit) protocol.

However, the community immediately noticed that the company insists on activating the BTC1 client, that is the code underlying the SegWit2x offer and in fact proposes to abandon the Bitcoin Core client.

For now, 100% of the miners already support the Bitcoin Core code signalling in support of the protocol. Thus, no separate code is required for this, especially since the fixation of SegWit has already taken place.

BitPay, in its turn, offers the operators of the node to perform another update, this time to the BTC1 client, which, in addition to activating SegWit, also provides for the network's hard-fork with an increase of the block size to 2Mb.

In fact, BitPay tries to mislead the users, because, as noted above, no additional update is required to support SegWit.

The news caused a great resonance in the cryptoworld society.

Thus, Peter Todd, the developer of Bitcoin Core directly accuses BitPay of fraud as the company does not mention SegWit2x anywhere in its record, activation of which is provided by the BTC1 client. Instead, BitPay uses the term SegWit exclusively.

SegWit activation is to take place on August, 22th, so we'll keep you updated.  

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   71

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.