Blockchain is Immature, CEO of BBVA Bank Says

Carlos Torres was a speaker at event organized by the Spanish Association for Economic Journalism
20 June 2018   434

The CEO of the large Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) Carlos Torres said that the technology of the blockchain is "immature" and has a number of serious problems, reports Сointelegraph.

This position was expressed by the financier at an event dedicated to discussing the prospects and limitations of the blockchain, organized by the Spanish Association of Economic Journalism.

According to Torres, the main problems of the blockchain are "volatility of underlying currencies” and possible compatibility issues with tax authorities and financial regulators.

Torres added that, given its potential, the blockchain needed adequate and unlimited, but controlled conditions for the development.

The BBVA was founded in Bilbao in the late 19th century. In 2017 the bank became the second in Spain in terms of assets and capitalization.

Bitcoin Cash Hardfork Implemented

Hardfork of a hardfork... just don't get confused in this crazy world of cryptocurrency
16 November 2018   80

Today, on November 15, a hardfork was implemented in the Bitcoin Cash (BCH) network. The first block in the Bitcoin ABC blockchain has mined a pool of Bitcoin.com.

The last “common block” was # 556,766, mined by SVPool. on which the protocol update was activated.

Bitcoin SV got its first block. Now we can definitely talk about the division of Bitcoin Cash into two competing blockchains. Roger Ver, right before the hardfork, said that his pool had sent a significant amount of power to mining Bitcoin ABC.

Bitfinex exchange announced the transfer of BAB and BSV coins to the accounts of BCH holders.

Poloniex converted all BCH balances into assets BCHABC and BCHSV. At the same time, the BCH market became unavailable. Instead, the BCHABC / BTC, BCHSV / BTC, BCHABC / USDC and BCHSV / USDC trading pairs appeared. I / O of BCHABC and BCHSV is not yet available, but will open when the network stabilizes.