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Tag Archives: Costs

‘Fat-Finger’ Error Costs Norwegian Bank Storebrand Nearly $12 Billion in Value

Twitter Facebook LinkedIn CCN is expanding. Are you our next full-time journalist from the West Coast USA? Send us your CV and examples here. Storebrand, a leading Norwegian financial services group worth more than $81 billion shed 14 percent of its share value on Wednesday morning after falling victim to a phenomenon known as a “fat-finger” error. The term refers ...

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Rural Washington County Utility Proposes Increased Electricity Costs for Crypto Miners

Washington’s Chelan County Public Utility District (PUD) has proposed a new electricity pricing structure for cryptocurrency miners meant to pass down the cost of increased electricity demand, Central Washington radio station KPQ reported Nov. 14. The article cites Lindsey Mohns, the Customer Utilities Rate Adviser, explaining the difference between the current and proposed electricity pricing systems, noting that the rate ...

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To Withdraw $1 Million of Crypto on Bitfinex, it Now Costs $30,000

Converting crypto to fiat is not cheap anymore, at least on Bitfinex. The Hong Kong-based digital assets exchange on Sunday updated its fee structure for high-frequency wire withdrawals. It effectively imposed a 3 percent commission cut on all external wire withdrawal requests that would exceed 1) more than two fiat withdrawals in any thirty day period, and 2) more than $1M in ...

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Air France-KLM Set to Introduce Blockchain to Reduce Customer Costs

Air France-KLM, the world’s fifth largest airline, has announced that it will be working with blockchain travel ecosystem Winding Tree to reduce costs for customers by cutting out intermediaries. An official announcement was published via the company’s website yesterday. The purpose of the partnership with Winding Tree, an open source travel network, is to utilise blockchain technology in order to execute “more advantageous ...

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eToro Cuts Crypto Costs to Support Mass Adoption

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World’s Fifth Largest Airline Firm Explores Blockchain to Cut Costs for Customers

European airline holding company Air France-KLM has partnered with blockchain travel ecosystem Winding Tree. The goal of the partnership is to reduce costs for the company’s customers by cutting out intermediaries. The alliance has revealed the new deal in a release published on its official website Thursday, Oct. 4. The world’s fifth largest air company by revenue in 2018, Air ...

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ClinTex Lowering New Medicine Costs Through Blockchain Technology

Clinical trials are a crucial step in getting any new medical advancement approved for assisting the public, but it can also be one of the most consuming steps, in terms of both time and money. ClinText looks to change this through its CTi platform, which will use blockchain technology and machine learning to improve the quality and efficiency of pharmaceutical ...

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Summer’s Cryptocurrency Fraud Costs £2 Million in Losses

The UK’s national policing lead for fraud has revealed figures wherein victims have reported 203 instances of cryptocurrency fraud totaling a little over £2 million ($2.54 million) in losses. In an announcement published this on August 10, Action Fraud – the UK’s national fraud and cybercrime reporting center – warned the public of fraudsters pushing ‘get rich quick’ investment schemes ...

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ASKfm’s ICO Publicity Stunt Costs a Man His Life

Despite having announced an ICO and a potential transformation into a decentralized ledger, ASKfm felt there still wasn’t enough attention on it, which could potentially hurt its chances of hitting its fundraising targets. It therefore embarked on a particularly daring publicity stunt. The Q&A social media platform sponsored four Ukrainian climbers who would climb the tallest mountain in the world, ...

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if Implemented Right, Blockchain Will Dramatically Reduce Costs for Banks

Blockchain technology has the potential to revolutionize transaction banking according to a study by major global management consultancy firm Bain & Company, Cointelegraph auf Deutsch reports today, June 14. According to Bain, “transaction banking revenues tend to be less volatile than other types of banking revenues, and bankers can cross-sell products, which is critical for client loyalty.” Bain concludes in ...

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