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SBI Group’s CEO Drops Bitcoin Cash and Bitcoin SV for XRP



SBI Group

SBI Group’s SBI Virtual Currencies made quite a controversial decision earlier this month when they decided to delist Bitcoin Cash (BCH). Understandably enough, many were confused by the move, which is why the SBI Group’s CEO, Yoshitaka Kitao, decided to explain what happened and what led to this decision.

Earlier in April, Kitao and the board members had an end-of-fiscal-year meeting, during which the CEO stated that coins that regularly go through hard forks are ludicrous. He was referring to Bitcoin Cash, which had seen a hard fork in mid-November 2018. Not only that, but its hard fork is believed to be one of the causes of the year’s second crypto market crash.

No to Bitcoin: Neither Cash nor SV

Kitao explained that the original intention was to provide support to BCH. However, Bitmain’s former CEO, Jihan Wu, had is well-known disagreement with nChain’s chief scientist, Dr. Craig Wright. The disagreement led to splitting up the community, and when the day of the hard fork came — the blockchain split as well. While Wu did manage to take control of the name Bitcoin Cash, SBI Group decided that both BCH and BSV are troublesome tokens that should be dropped.

While Bitcoin Cash is far above BSV on the list of largest cryptocurrencies, SBI believed it to have security concerns at some point. Or, at least, that was the group’s main reason for delisting the coin. The move was interesting as many were seeking to delist BSV at the time, but SBI Virtual Currencies later said that the moment of delisting was not taking a stance and supporting one coin over another. The timing was, supposedly, coincidental, and the company was simply doing what it believed to be the best and safest option.

However, many also pointed out that Kitao had a long business relationship with Craig Wright, which may have had some impact on SBI CEO’s decisionmaking. Of course, SBI dismissed this as a factor entirely, stating that BSV will not be listed either.

SBI CEO becomes Ripple board member

Then, another interesting development happened, only a week ago, when Kitao got appointed as Ripple’s board member.

The California-based company is known for its strong focus on the banking sector, as well as for its products that aim to make cross-border payments instant and much cheaper. As a crypto startup with a lot of potentials, SBI was more than interested in having a long-standing, friendly relationship with Ripple.

So much so, in fact, that they came together to form SBI Ripple Asia, a payment platform initiative that would make use of RippleNet’s infrastructure. Another interesting thing is that Kitao will actually replace SBI Ripple Asia’s CEO, Takashi Okita, on the Ripple board. Many have been wondering what this might mean, or lead to. Some suggestions propose that Kitao might wish to get a leading role in both, international and domestic crypto-based affairs.

Whatever the case may be, it appears that 2019 will bring some interesting changes to Japan’s crypto scene.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes




While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021



crypto billionaire

Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level




Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

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These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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