Congress

TikTok Ban: The Beginning of a New Age in Social Networks?

President Donald Trump has signed an executive order that forbids American companies to transact with Tencent and Bytedance. The ban comes after a long debate involving alleged data mining from apps like WeChat and TikTok. Following the ban, Tencent shares fell 5%. American companies will effectively have 45 days to stop transacting with these companies. The ban is sparking worldwide debate regarding the boundaries of national security. Is this an opportunity for decentralized social media platforms to step up? Tencent and the Yuan Plummet The announcement was immediately felt on

Exclusive: US Congressional Watchdog on Prototyping Smart Contracts

The supreme audit institution of the United States, the Government Accountability Office (GAO), posted two job positions with its Innovation Lab concerning the development of prototype applications for blockchain technology during March.Cointelegraph spoke to Chuck Young, the managing director of public affairs at GAO, to find out more about the agency’s interest in distributed ledger technologies, or DLT.GAO to refine auditing processes for blockchainYoung stated that GAO's primary application for blockchain will be as “a digital financial ledger” — indicating that the chief auditor is planning to use blockchain to

The Platform Is Set for Virtual Conferences: Will It Live Up to Its Promises?

As the global economy struggles to adapt to the rapid changes the coronavirus pandemic has forced upon the world, the virtual conference space is booming. The need to engage, communicate and expand our network has perhaps never been so necessary as businesses struggle to survive what may be the next great economic depression. Blockchain and cryptocurrency are sectors of the financial technology industry that are used to leading the way when it comes to innovation, and it’s no surprise that blockchain conferences are quickly moving online in an effort to keep

Charities Are Turning to Bitcoin Amid the Global Fight Against Coronavirus

In the war against the novel coronavirus, cryptocurrencies are emerging as a much-needed tool for charity and fundraising projects. Already there are a number of large nonprofits accepting Bitcoin donations. Plus, some blockchain and crypto firms are contributing medical supplies to hospitals in an attempt to curb the virus, while others are setting up fundraisers and charities that are aimed at helping its victims.As a number of nonprofits continue to accept cryptocurrency donations, they are starting to realize that crypto transactions significantly reduce costs in terms of fees. Here are