Blockchain Daily Digest – December 2nd, 2019

1.    IBM Eyes Blockchain and IoT Solution to Eradicate Drone Theft

Companies, such as FedEx, DHL, and Amazon, are developing drones that can deliver packages to clients’ doorsteps. This is a novel undertaking, but IBM is looking at the bigger picture, whereby these drones might steal the packages instead of delivering them. 

2.    IDAX Freezes Cold Wallet Transactions Following CEO Disappearance

Chinese cryptocurrency exchange IDAX has frozen withdrawals and deposits after the alleged disappearance of its global CEO. The cryptocurrency exchange made an announcement on Nov. 29, claiming that it had closed down its operations after its staff members were unable to make contact with the company’s CEO.   

3.    Huobi Joins State-Backed Blockchain Alliance in China to Provide Blockchain Infrastructure Services

In the first-ever Blockchain Service Network Partner Conference hosted by the National Information Center and Hangzhou Municipal People's Government in China, it was announced that cryptocurrency exchange Huobi had joined the Blockchain Services Network (BSN), an alliance initiated by the State Information Center (SIC). 

4.    Upbit Exchange Hacked For 50 Million Dollars in Ethereum

Lee Seok-woo, CEO of Upbit, published a report explaining that deposits and withdrawals have been suspended on the exchange, for the time being, stating that a shocking total of 342,000 ETH, a value of $50 million USD, has been stolen from the Upbit Ethereum Hot Wallet.

5.    German Banks Authorized for Crypto Custody and Sales in 2020

From Jan. 1, 2020, German banks will be legislatively authorized to sell and provide custody of cryptocurrencies as reported by German newspaper Handelsblatt.

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