Image Image Image Image Image Image Image Image Image Image Image Image

| January 17, 2019

Scroll to top

Top

Coin Archives -

The Daily: Cointext Offers Philippines BCH Wallet, Beam Launches Mimblewimble Coin

January 4, 2019 |

The Daily: Cointext Offers BCH Wallet in the Philippines, Beam Launches Mimblewimble Coin

Cointext’s SMS bitcoin cash wallet is now available in the Philippines and we’ve got the details below. Also in The Daily on Friday, the first Mimblewimble coin has been launched by Beam and crypto exchange Binance reintroduces its platform for token sales, Launchpad, which will host the Bittorrent token generation event.

Also read: New York Establishes Crypto Task Force, Novogratz Buys More of Galaxy Digital

Cointext Services Now Available to Filipinos

Cointext, a platform that enables users to transfer cryptocurrency offline using simple text messages, has launched its service in another new market. The SMS bitcoin cash (BCH) wallet is now available in the Philippines, a country with a population of over 100 million people and a large diaspora around the world.

The Cointext wallet allows anyone with even a basic mobile device that supports text messages to send electronic cash to other phone numbers or BCH addresses. What’s more, to receive the money, the recipients don’t even need to download a wallet, install an application, set up an account or have access to the internet.

These features are behind Cointext’s growing popularity in countries where modern smartphones are available to a small portion of the population and the majority of telecom subscribers still use traditional mobile phones. Cointext also appeals to residents of countries that receive a lot of remittances from abroad, from Brazil to Romania.

The Daily: Cointext Offers Philippines BCH Wallet, Beam Launches Mimblewimble Coin

“The ability to send value over SMS is tailormade for the Philippines,” said Cointext founder and CTO Vin Armani, as quoted by Prweb. “Remittances are a big part of the economy and Filipinos are already big adopters of cryptocurrency, especially bitcoin cash.”

Armani added that the country has many cryptocurrency exchanges and that “makes using cryptocurrency for remittances a no-brainer” as it allows easy conversion to local fiat, the Philippine peso. With Cointext, Filipinos will also be able to make cross border transfers at much lower costs, in comparison with traditional services.

With the addition of the Philippines, the number of markets where Cointext is currently available grows to a total of 39. New users in the country can get a Cointext wallet by texting START or SIMULAN to the access number 639221101037.

Mimblewimble Coin Beam Launched

The Daily: Cointext Offers Philippines BCH Wallet, Beam Launches Mimblewimble CoinOn the 10th anniversary of Bitcoin’s genesis block, a new privacy-oriented coin based on its blockchain was launched. Beam, which is issued by an Israeli startup, uses Mimblewimble, a protocol that was originally developed in 2016 with the aim of both improving the scalability of the Bitcoin network and increasing the privacy of its users. Its developers eventually concluded they needed to create a separate Mimblewimble cryptocurrency.

Another project called Grin was the first to start work on a crypto utilizing the protocol. However, Beam became the first to attract venture capital financing to issue a Mimblewimble coin. Grin is now scheduled to launch in mid-January, as news.Bitcoin.com reported last month.

According to an announcement on Medium, Beam’s mainnet release contains the following components for Linux, Mac, and Windows devices: desktop wallet app that includes a CPU miner node, CLI wallet and Beam node. A standalone Opencl miner and a standalone Cuda miner are available for Linux and Windows-based systems.

Binance Launchpad to Host Bittorrent Token Sale

The Daily: Cointext Offers Philippines BCH Wallet, Beam Launches Mimblewimble CoinBinance, currently the largest cryptocurrency exchange by daily trading volume, is reinstating Launchpad, its platform dedicated to token sales. Launchpad was initially introduced in August of 2017 with the Bread and Gifto sales. The exchange has just announced that Binance Launchpad will be featuring new projects in 2019.

According to the release, Launchpad will start with two projects: Bittorrent and Fetch.ai. “Further announcements for each upcoming project launch will be made in the coming weeks,” the exchange added.

Verified Binance users will be able to buy the tokens using bitcoin core (BTC), ethereum (ETH) and binance coin (BNB). Residents of the U.S., China and South Korea won’t be able to participate due to regulatory restrictions.

Bittorrent recently announced its new digital coin which will be offered through a token sale conducted on Binance Launchpad. The Bittorrent token (BTT) will be based on the protocol developed by Tron, which acquired Bittorrent last summer.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock, Smartmockups, Beam.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Cointext Offers Philippines BCH Wallet, Beam Launches Mimblewimble Coin appeared first on Bitcoin News.

Bitcoin News

Iran Labels Telegram’s Coin a Threat to National Security

December 31, 2018 |

Iran Labels Telegram’s Coin a Threat to National Security

Tehran has once again targeted the users of the popular messaging application Telegram. A law enforcement official warned Iranian citizens against providing any support for the launch of the instant messaging app’s native token, the Gram.

Also read: Bill to Curb Iranian National Crypto Filed in US Congress

‘Disruption to the National Economy’

Iran Labels Telegram’s Coin a Threat to National SecurityAuthorities in Iran would interpret any cooperation with Telegram on the issuing of their crypto as “an action against the national security” of the Islamic Republic. That’s according to a recent statement by Javad Javidnia, secretary of the country’s Criminal Content Definition Task Force.

Javidnia emphasized that instances of providing such support “will be dealt with as a disruption to the national economy.” Quoted by the Fars news agency on Sunday and later by the English-language newspaper Tehran Times, the official also stated:

One of the most important factors in banning Telegram was the sense of a serious economic threat from its activities, which was unfortunately marginalized and neglected due to the fuss in the political atmosphere of the country.

Telegram has been developing its Telegram Open Network (TON) in order to provide its customers with a digital payments system. All Telegram users will get a TON wallet and the platform’s developers hope to make Gram the “world’s most adopted cryptocurrency.”

The company planned an initial coin offering for its Gram token earlier this year but the ICO was canceled after Telegram reportedly raised $ 1.7 billion from private investors. The ico-telegram.org website confirms that and currently warns investors they have 31 days left before the refund windows is closed. The issued refunds now amount to over 97.7 percent of the raised total.

Banning the Messenger

Iran Labels Telegram’s Coin a Threat to National SecurityThis past spring, the operator of the messaging service, a company founded by famous Russian entrepreneur Pavel Durov, revealed that Telegram had over 200 million monthly active users around the world. The app has become extremely popular in the global crypto community as well as in jurisdictions with extensive internet censorship regimes.

The messenger has been blocked already in the People’s Republic of China. Authorities in the Russian Federation have been trying to restrict access to its platform for months this year, after Telegram refused to hand over its encryption keys to the Federal Security Service (FSB).

Moscow’s attempts to prevent Russians from using Telegram have been largely unsuccessful. In fact, the number of its users in the country has grown to over 3.4 million since the Russian telecom watchdog Roskomnadzor started its offensive. Russian-language channels have also significantly increased their membership.

The instant messaging app with Russian roots gained much more popularity in Iran, where it is believed to have 50 million users, according to a BBC report. However, in April the Iranian judiciary banned Telegram “to protect national security.” The measure was imposed after mass anti-government protests in January over the deteriorating socio-economic conditions in the country. Officials claimed the rallies had been organized in Telegram chats.

Iran and Cryptocurrencies

Iran Labels Telegram’s Coin a Threat to National SecurityThe attitude of the Islamic Republic towards cryptocurrencies has changed over time, especially after the Trump administration pulled out of the nuclear deal and reintroduced U.S. sanctions, which among other restrictions limited Iran’s access to the dollar. That’s not to say that Tehran has become really positive about decentralized cryptos such as Bitcoin but, for instance, the country took steps to recognize mining as an industry and allow the imports of mining equipment.

Iran has also been working to issue a national cryptocurrency and according to recent reports, the organizations behind the project have already finalized its development. Just recently, a new bill aimed at curbing Iran’s efforts to create a sovereign coin and use it to circumvent sanctions was introduced in the Congress in Washington. The draft legislation bans U.S. citizens and companies from all transactions and dealings in Iranian digital currency and introduces new sanctions against foreign nationals and organizations supporting its development.

What is your opinion about the latest Iranian action against Telegram? Share your thoughts in the comments section below.  


Images courtesy of Shutterstock. 


Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.

The post Iran Labels Telegram’s Coin a Threat to National Security appeared first on Bitcoin News.

Bitcoin News

PR: Bitcoin Fork Bithereum Launches Coin to Revolutionize Cryptocurrency Mining

December 17, 2018 |

Bitcoin Fork Bithereum Launches Coin to Revolutionize Cryptocurrency Mining

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Dubai, UAE. – The Bithereum (BTH) team is officially launching their peer-to-peer (P2P) fork of Bitcoin centered around “Proof of Stake”, the future of Ethereum mining and blockchain consensus. The launch of Bithereum will occur around December 28th, or at Bitcoin block number 555,555. Based on security, scalability, and functionality, this platform will ultimately lead the world closer to a fully-inclusive, global, decentralized currency.

“Bithereum has developed a platform that will enable a truly peer-to-peer currency while mitigating many existing issues in Bitcoin through its multi-pronged scaling approaches,” explains Bithereum co-founder Sachit Singh. “By bringing together the best aspects of both Bitcoin and Ethereum, we are confident our network will revolutionize Bitcoin mining via Ethereum’s technological roadmap and lead to the widespread adoption of cryptocurrency.”

Bithereum will be starting as a Proof of Work coin upon launch, but recognizes its various inefficiencies in the long-term and will focus on Proof of Stake implementation as a paramount objective; the team has already released a proof-of-concept model for the implementation to the public.

“Proof of Stake”, or PoS, will be the engine that gets this train moving. PoS is a transaction validation method that makes the blockchain network faster, more efficient and cheaper to run. The current Bitcoin mining method, known as “Proof of Work’” is very costly and wasteful in the long run. Not only are there very high up-front costs, but there are also the issues of excessive energy consumption, monopolization of mining efforts and a slow transaction speed.

Co-founder Scott Wade explains: “By augmenting transaction speed and reducing fees, ‘Proof of Stake’ mining will be an economical as well as an ecological advancement.”

“This new method will also lower the excessive energy consumption used by ‘Proof of Work’ mining. We are excited about the potential,” concluded Wade.

Furthermore, the network will be rewarding anyone who runs a full node, similar to how miners get rewarded for their work in every Proof-of-Work system. Full nodes are machines that store the entire blockchain and are a necessity for keeping the network up, however they are not incentivized to do so; Bithereum will address this issue with regular incentives.

Bithereum represents two chains in one coin; by hard-forking Bitcoin, and hard-spooning Ethereum to reward them with BTH, it will be the world’s first hard-spork, rewarding holders of coins on both chains. Ethereum Holders also have the option to claim their BTH prior to the launch on the website if they choose to.

Users who wish to see more about the platform are encouraged to go to the website and to start keeping up with the progress leading up to the launch.

-30-
For more information:
Sachit Singh
Operations Lead & Founder
Contact us at info@bithereum.network

About Bithereum:
Headquartered in Dubai Outsource City, Bithereum aims to do what no other hard fork has done: fusing the visions of both Bitcoin and Ethereum, and ultimately revolutionizing mining, improving scalability, and increasing network consensus. Please log on to: https://bithereum.network/ for more information. Also log on to https://medium.com/bithereum-network for more detailed blogs/tutorials about Bithereum.

Contact Email Address
info@bithereum.network

Supporting Link
http://bithereum.network

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Bitcoin Fork Bithereum Launches Coin to Revolutionize Cryptocurrency Mining appeared first on Bitcoin News.

Bitcoin News

The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched

December 17, 2018 |

The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched

In The Daily on Monday, a new digital coin project targeting the ‘Yellow Vest’ protesters is promising censorship-free crypto transactions. Also, a regulated security token trading platform is now live in the U.S., South Korean internet giant Kakao invests in an Israeli startup, and crypto exchange Abra is giving away bitcoins for Christmas.

Also read: Trump Chooses Bitcoin Advocate as Chief of Staff, Congressman Proposes Wall Coins

‘Get Your Freedom Back!’

A new digital token project using symbols associated with the Yellow Vests (Gilets Jaunes) protestors in France has been devised. The creators of the Gilet Jaune Coin (GJCO) claim their main goal is to support what has become an international movement “in the legitimate struggle of nations to self-determination, and the reconquest of their economic, territorial, and monetary sovereignty.”

The coin’s website is littered with slogans such as “Get your freedom back,” “Long live the Gilets Jaunes” and “The people will not be sacrificed on the altar of debt!” It also abounds in promises and calls like “We will be listed on exchanges soon,” “To stay united, you should mine on our own pool” and “We invite you to buy a Gilet Jaune Coin wallet.”

The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched

The project’s team claims the coin is inspired by Bitcoin and based on Ethereum, and insists GJCO is easy to use and “perfect for transactions… at ridiculously low costs.” The developers of the new crypto further assure the public that the Gilet Jaune Coin is censorship-free and fraud-resistant, stating that its use is “recommended during the fight against the banking oligarchy, seeking to enslave us!”

It’s unclear whether the digital coin is actually related to the Yellow Vests Movement. The social media links on its website do not lead to real accounts, but coin’s Telegram channel now has over 90 members. The Mouvement des Gilets Jaunes demonstrations, which started as a protest against increased fuel prices in France this past November, have spilled over to other EU countries and even Turkey and Iraq. Protesters have also raised a number of demands related to socio-economic problems such as low incomes and government corruption.

Regulated Security Token Trading Platform Now Live

The Daily: Yellow Vest Coin Created, Security Token Trading Platform LaunchedOpen Finance Network (OFN), a security token trading platform regulated in the U.S., announced it’s transitioning from beta to full trading functionality. According to a blog post on Medium, one of the security tokens available to trade at launch is Blockchain Capital (BCAP). Blockchain Capital is a tokenized venture capital fund focused on digital assets. OFN notes that this is a compliant security token offering.

The platform is now available to both accredited and non-accredited investors in the United States and other markets. It implements a one-time verification procedure through an application called Investor Passport that allows users to invest based on their eligibility. Open Finance Network has also developed its own security token standard called the Smart Securities Standard in order to be able to offer both token issuance and secondary market trading.

Kakao Invests in Israeli Startup Orbs

South Korean Internet giant Kakao Corp. has invested in the Israeli crypto startup Orbs through its venture arm, Kakao Investment, Reuters reported. Kakao, which is South Korea’s largest messaging app operator, announced earlier this year its plans to establish a unit focused on blockchain technology. Orbs, which did not disclose the size of the investment, said the funds will help it grow and build on its existing partnership with the Kakao blockchain subsidiary Ground X. The two companies are already working together to develop applications of crypto technology.

Abra Giving Away Bitcoins for Christmas

The Daily: Yellow Vest Coin Created, Security Token Trading Platform LaunchedDigital asset exchange and crypto wallet provider Abra has decided to cheer up crypto enthusiasts during the bear market with a Christmas promotion. The platform is now giving away $ 25 of BTC to new investors for its ETF-style token called Bit 10. To be eligible for the crypto cashback, however, users have to buy at least $ 1,000 worth of tokens before the end of this month. And there’s another catch, according to The Next Web – Bit 10 is a market tracking index token that can be purchased and sold only through the Abra app. The token tracks the top 10 cryptocurrencies each month, which means its value will only go up in a bull market, but may struggle in the current one.

What are your thoughts on today’s news tidbits? Tell us in the comments section.


Images courtesy of Shutterstock, Gilet Jaune Coin.


Make sure you do not miss any important Bitcoin-related news! Follow our news feed any which way you prefer; via Twitter, Facebook, Telegram, RSS or email (scroll down to the bottom of this page to subscribe). We’ve got daily, weekly and quarterly summaries in newsletter form. Bitcoin never sleeps. Neither do we.

The post The Daily: Yellow Vest Coin Created, Security Token Trading Platform Launched appeared first on Bitcoin News.

Bitcoin News

Monitor Bitcoin Cash Development With the Coin Dance Tracking Page

December 15, 2018 |

Monitor Bitcoin Cash Development With the Coin Dance Tracking Page

Cryptocurrency data website Coin Dance revealed on Friday the team’s revamped Bitcoin Cash protocol development tracking page. Interested proponents can get a comprehensive look at all the completed BCH developments, proposals, ideas that are being discussed, and concepts that are currently under development.

Also read: Markets Update: Bears Continue to Drag Cryptocurrency Prices Down

The Coin Dance Bitcoin Cash Protocol Development Tracking Page

The analytical website Coin Dance has added a lot more detail to the site’s development section. The Bitcoin Cash protocol development tracking page expands upon a list of development discussions, proposals, and code that’s being developed right now. For example, there are currently 12 featured concepts ‘under development’ by the groups of developers who help the BCH protocol prosper. Developers from groups like the Cashshuffle developers, Bitcoin ABC, and Bitcoin Unlimited (BU) have all contributed to the maturing ideas.

Monitor Bitcoin Cash Development With the Coin Dance Tracking Page
BCH protocol development under discussion.

According to Coin Dance statistics, the 12 features under development include UTXO commitments, Modified fee structure, enable Schnorr signatures, reinstate more opcodes, add Compact Blocks, Graphene version 2, and more. The website data describes what the feature does like how Graphene v2 adds a lot more functionality to the first Graphene phase.

Monitor Bitcoin Cash Development With the Coin Dance Tracking Page
BCH protocol development under discussion.

In another instance, the Coin Dance documentation describes Bitcoin Unlimited’s Compact Blocks protocol. “Supporting CB in BU would strengthen the connections between the BU peers and the rest of the network, without having to rely on intermediates,” explains the BCH development tracking page. Additionally, the site gives users a link to where they can read up on more information specifically tied to each concept.

Optimization, Privacy, Scaling, and Whether or Not Its Backward Compatible

The tracking page also details there are 14 Bitcoin Cash protocol developments under discussion. This means BCH programmers have merely conversed about the idea but no one, in particular, is developing the specific concept. Features being discussed include Bobtail, One Way Aggregate Signatures, Representative Tokens (GROUP), Avalanche, BLS Signatures, and more.

Monitor Bitcoin Cash Development With the Coin Dance Tracking Page
BCH protocol features under development.

All the features that Coin Dance has listed, whether they are being discussed or under development, explain the underlying purpose of each improvement as well. Each concept has a little icon on the top left corner of the window frame and a popup window details the features intention. A fingerprint icon says “the purpose of this proposal is to improve security.” Other icons include usability, extensibility, optimization, privacy, and scaling. Moreover, icons on the upper right explain if the concept is “not backward compatible.”

Monitor Bitcoin Cash Development With the Coin Dance Tracking Page
BCH protocol features under development.

If anyone is interested in what is going on with Bitcoin Cash development, then they will likely appreciate the development tracking page. Coin Dance still has its other sections of data sets which include the BCH protocols nodes, blocks mined, hashrate, politics, opinion, mining profitability, and a section where BCH users can create vanity addresses. In the Bitcoin Cash protocol development section enthusiasts and researchers can also see completed progress that happened during prior upgrades.

What do you think of the newly revamped Coin Dance BCH development tracking page? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Pixabay, and Coin Dance. 


Have you seen our new widget service? It allows anyone to embed informative Bitcoin.com widgets on their website. They’re pretty cool, and you can customize by size and color. The widgets include price-only, price and graph, price and news, and forum threads. There’s also a widget dedicated to our mining pool, displaying our hash power.

The post Monitor Bitcoin Cash Development With the Coin Dance Tracking Page appeared first on Bitcoin News.

Bitcoin News

TMZ

Charlie Sheen Celebrates Sobriety, Reveals AA Coin

December 11, 2018 |

Charlie Sheen says he’s hit a milestone of sobriety — and he’s got a shiny AA coin to mark the occasion.   The former “Two and a Half Men” star posted a photo Tuesday of a black and gold coin, given to members of Alcoholics Anonymous…

TMZ.com

Japan Unveils Plans to Regulate Initial Coin Offerings

December 3, 2018 |

Japan Unveils Plans to Regulate Initial Coin Offerings

Japan’s Financial Services Agency has held several meetings to discuss how to best regulate initial coin offerings. In addition to registration requirements, the regulator reportedly plans to amend two existing laws that can be applied to token sales.

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Registrations and Law Changes

The Financial Services Agency (FSA), Japan’s top financial regulator, “is set to launch regulations on initial coin offerings [ICOs],” Jiji Press wrote on Saturday. Sources told the news outlet:

The FSA will require business operators that issue their own
cryptocurrencies to be registered with the agency.

Japan Unveils Plans to Regulate Initial Coin OfferingsJapan’s amended Payment Services Act requires cryptocurrency operators to register with the FSA. However, ICOs are currently not covered within the scope of this act.

Jiji Press also reported that, in order to “introduce the [ICO] regulations,” the agency “plans to submit bills to revise the financial instruments and exchange law and the payment services law to next year’s ordinary parliamentary session starting in January.”

FSA’s ICO Discussions

The FSA has been holding study group meetings to discuss how to best regulate token sales. The agency has stated that ICOs are not prohibited but acknowledged that many of them are fraudulent. In March, Satis Group published a report which claims that 78 percent of ICOs are scams.

Sources told Jiji Press:

In view of a number of possibly fraudulent ICO cases abroad, the financial regulator plans to limit individuals’ investment in ICOs for better protecting them.

Japan Unveils Plans to Regulate Initial Coin OfferingsWhile Japan currently does not have a specific law for ICOs, two existing laws may apply to them based on how they are structured, the FSA previously explained. The first applicable law is the Payment Services Act. The other is the Financial Instruments and Exchange Act which provides a regulatory framework for securities and securities companies in Japan.

At the latest meeting on ICO regulation held on Nov. 28, the FSA discussed additional areas it plans to regulate.

Japan Unveils Plans to Regulate Initial Coin OfferingsSome ICOs will be regulated under the Financial Instruments and Exchange Act.
“If an ICO has the characteristics of an investment, and the purchase of a token by a virtual currency is practically deemed equivalent to that of legal tender, the ICO becomes subject to regulations under the Financial Instruments and Exchange Act,” the regulator previously explained.

The regulation will also include disclosure requirements and measures for unfair trades. In addition, distribution channels will be regulated and token issuers will be screened to ensure adequate financial health.

What do you think of the FSA’s plans to regulate ICOs? Let us know in the comments section below.


Images courtesy of Shutterstock.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japan Unveils Plans to Regulate Initial Coin Offerings appeared first on Bitcoin News.

Bitcoin News

Israeli Central Bank to Hold off on Issuing Digital ‘E-Shekel’ Coin

November 7, 2018 |

Israeli Central Bank Decides Against Issuing a National Cryptocurrency

A group under the Bank of Israel has published a report on a proposal to issue a national digital currency. The team, which was set up last November, has identified several potential advantages to the technology, but has advised the central bank not to act until other institutions throughout the world have done so first.

Also Read: Marshall Islands President Attacked Over National Crypto Plan

Pros and Cons of a National Cryptocurrency

Israeli Central Bank Advised to Delay Plan to Issue ‘E-Shekel’ NCryptocurrencyThe 40-page document mainly presents the advantages of issuing an “e-shekel” from the standpoint of the Bank of Israel. The first of these considerations would be to give the public access to the central bank’s liquidity, in the event that the use of physical cash ever declined significantly. Another would be to support the payments system in the country and make it more efficient. Additionally, the team found that “if it bears interest,” the e-shekel could become a monetary tool in the hands of the central bank.

The report also suggests that issuing an e-shekel could help combat the “shadow economy,” meaning it would make it harder for people to conduct unreported financial transactions. In contrast, among the limited disadvantages the writers of the report found, is the fear that the public would think that the move was just a “big brother” attempt to maintain constant surveillance on Israeli citizens.

Other concerns the team identified are that digital coins wouldn’t be accessible to people who are technologically challenged. They also expressed concern that a possible technical failure of the e-shekel could harm the central bank’s reputation.

Waiting for the Big Boys

Israeli Central Bank Advised to Delay Plan to Issue ‘E-Shekel’ NCryptocurrencyUnlike Israel’s dynamic, fast-moving and tech-focused private sector, the country’s public institutions are extremely conservative and usually reluctant to adopt new technologies. Considering this, it is no real surprise that the Bank of Israel has adopted a wait-and-see approach to digital currency, despite mainly finding advantages to potentially issuing one.

“No central bank in an advanced economy has yet issued digital currency for broad use,” the team concluded, while acknowledging that many such institutions around the world have already examined the possibility. This makes it clear that the Israeli central bankers won’t take a step forward until they see another leading institution such as the U.S. Federal Reserve or the European Central Bank do so first.

Still, the possibility has not been taken off the table, as the same team will continue to monitor developments in the field, “particularly at other central banks.” And they plan to report their findings on the matter to the Bank of Israel’s management on a semi-annual basis. The group has also recommended discussing the subject with international bodies such as the Bank for International Settlements, the Organization for Economic Cooperation and Development, and the International Monetary Fund.

Can digital coins issued by central banks ever become an alternative to decentralized cryptocurrencies? Share your thoughts in the comments section.


Images courtesy of Shutterstock.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Israeli Central Bank to Hold off on Issuing Digital ‘E-Shekel’ Coin appeared first on Bitcoin News.

Bitcoin News

PR: Debut of USDD – A Stable Coin That Pays You Interest

October 26, 2018 |

Debut of USDD - A Stable Coin That Pays You Interest

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

USDD – The world’s first dollar-backed and interest-bearing stable coin, with interest payments every 24 hours, will be officially released on October 31st by 55 Global Markets. The USDD value is 100% supported by a US dollar reserve, funds are held in trust for the benefit of tokenholders by PrimeTrust as trustee, a third-party trust company that has relationships with major US banks. Cohen & Company, a third-party independent accounting firm will conduct monthly examinations of management’s Trust Holdings Report in accordance with Statements on Standards for Attestation Engagements established by the American Institute of Certified Public Accountants. USDD supports highly efficient purchases and redemptions based on the 55 OTC market and DaoCoin infrastructure.

Investors are eager to find a transparent and efficient stable coin, as they expect not only to reduce the risk of market volatility, but also to obtain interest on the hedged investments and maximize the use of funds. Based on this demand, 55 Global Markets has used the DaoCoin (www.daocoin.money) infrastructure to issue a transparent and efficient interest-bearing stable coin, the USDD.

USDD has the following characteristics:

Automatic payment of interest every 24 hours

Once, every 24 hours, USDD interest is calculated and sent to the 55 wallet.

100% transparency with compliance supervision

The USDD value is 100% supported by a US dollar reserve. The funds are held in trust for the benefit of tokenholders by PrimeTrust (www.primetrust.com) as trustee, a third-party trust company that has relationships with major US banks. USDD is issued by the European licensee 55 Global Markets, which is strictly regulated.

Monthly Audits

Cohen & Company (www.cohencpa.com), a third-party independent accounting firm will conduct monthly examinations of management’s Trust Holdings Report, to achieve third-party review of fixed assets. Truthful, effective and with 100% redemption reserves.

Real time disclosure

The official website, usdd.55.com will disclose the reserve fund’s balance and the number of tokens in circulation in real time. Users can check the balance of the USDD account, total interest, interest already distributed, etc. at any time; all information is 100% transparent.

Highly effecient purchase/ redemption

With 55 Global Markets, users can choose to quickly convert USDT to USDD with the one-button no-fee feature, or use the fiat currency to obtain or sell USDD from the 55 OTC market. The DaoCoin infrastructure also supports highly efficient redemption.

55 Global Markets measurement stable currency

The USDD will be used as a measurement stable coin for 55 Global Markets platforms’ transactions with all tokenized assets and cryptocurrencies (including but not limited to BTC, ETH, FF, etc.)

55 Global Markets is a next-generation asset trading platform driven by blockchain technology. It established 6 sub markets facilitating exchange of various forms of token. 55 Global Markets target of transactions is not limited to crypto assets like BTC or ETH, it also diverts to pools of traditionally meaningful and broader liquidity, such as real estate, private equity, foreign exchange, precious metals and even individuals’time.

Based on strength of cooperation with the partners, any third-party business organization or individual can tokenize their assets or interests in the physical world. They can then enter the 55 Global markets Blockchain Token Exchange (B -Site), Local Business Token Exchange (L-Site), Personal Token Exchange (P-Site), Forex Token Exchange (F-Site) , Stock Token Exchange (S-Site), Commodity Token Exchange (C-Site), conducting worldwide round-the-clock trading.

Press Contact Email Address:
media@55.com

Supporting Link:
http://usdd.55.com

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

The post PR: Debut of USDD – A Stable Coin That Pays You Interest appeared first on Bitcoin News.

Bitcoin News

The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat Platform

October 24, 2018 |

The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat Platform

In this edition of The Daily, we look at Square’s recent decision to open-source its Subzero cold storage solution. We also focus on Bitcurate’s new cryptocurrency market intelligence service, as well as the chat platform that Coin Stats is launching for cryptocurrency investors and coin teams.

Also read: Binance to Expand in Singapore, Uphold Launches Loan Service

Square Shares Code, Tools and Documentation

The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat PlatformSquare, a mobile payments app developer, is open-sourcing the documentation, code, and tools for Subzero, the platform’s cold storage solution for cryptocurrency holdings. Subzero uses hardware security modules (HSMs) — specialized devices that store sensitive data — to perform operations with the private keys of cryptocurrency wallets.

Last year, Square started offering customers the option to buy, sell and withdraw bitcoin core (BTC) with its Cash App. Users can view their holdings whenever they want, but the company claims it keeps only a small amount of customers’ coins in online hot wallets to facilitate transactions, while storing the rest in offline cold wallets. Other security features include the ability to customize the service, so the cold wallets can only send funds to Square’s hot wallet, as well as the implementation of multi-signature procedures.

“Since launching bitcoin support, Square developed a robust approach to bitcoin cold storage, and we recognize the importance of sharing our work with the community,” the company explained in a statement on Medium. “As a result, today we’re open-sourcing the documentation, code, and tools for Subzero, our HSM-backed solution for protecting Square’s bitcoin holdings.”

Bitcurate Starts Crypto
Market Intelligence Service

The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat PlatformBitcurate, a Chinese company that provides cryptocurrency data intelligence solutions, launched a new crypto market intelligence platform this week. The service combines expert analysis with natural language processing and machine learning technology to provide investors with real-time market insights. The platform aggregates information from news sources, social media platforms, chat groups and online forums. It also utilizes data from traders, exchange APIs, the crypto futures market, and other financial instruments. In total, the company claims that it processes more than five million sentiment data points per day.

Bitcurate acknowledges that a lot of trading decisions are motivated by mere “noise.” However, it also claims that roughly 90 percent of movements in the cryptocurrency market are purely driven by sentiment.

“The best investment strategies are data-driven,” said Bitcurate CEO Victor Lee in an online statement. “However, the market today is fragmented, making it difficult and time-consuming for investors to find the accurate, wide-ranging information they need to make calculated decisions. That’s why our platform tracks millions of data points every day.”

Bitcurate offers its subscribers a range of trading data for the cryptocurrencies they are specifically interested in, including real-time exchange rates, sentiment scores and recent price changes, as well as the latest news from the cryptocurrency space. In addition, the platform ranks digital coins according to their U.S. dollar value and trading volume.

Bridging the Communication Gap

The developers of Coin Stats, a cryptocurrency portfolio tracking app, have launched a new feature that will allow users to chat with other cryptocurrency enthusiasts, digital asset investors and developers. Coin Stats Direct will maintain chat groups dedicated to specific cryptocurrencies within its Coin Stats application. The platform will allow users to post questions about different projects and start discussions. Project teams, on the other hand, will be able to post updates about their coins, while also fielding questions from the public and providing users with the latest information about the progress of their initiatives.

The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat Platform

Coin Stats Direct is designed to bridge the communication gap that exists between  investors and coin teams. It aims to increase transparency in the cryptocurrency space by connecting project teams and users. The platform will initially support nine coins: bitcoin cash (BCH), bitcoin core (BTC), ether (ETH), ripple (XRP), EOS, NEO, stellar (XLM), vechain (VET) and appcoins. The company said it plans to add other cryptocurrencies and tokens to its platform in the near future.

What are your thoughts on today’s news tidbits? Tell us in the comments section below.


Images courtesy of Shutterstock, Bitcurate.


Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.

The post The Daily: Square Open-Sources Subzero, Coin Stats Launches Chat Platform appeared first on Bitcoin News.

Bitcoin News