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Synthetic Genomics’ Digital to Biological Converter can turn digitized DNA code into synthetic biological material, a milestone in medicine that could one day allow doctors to personalize medicine at their patients’ bedsides or fight epidemics halfway around the world.
WSJ.com: US Business
With all the controversy and mistrust surrounding Tether (USDT) it’s no surprise that a multitude of new alternatives have popped up recently. The latest example is from Malta where a company seeking a local crypto license has launched a Euro-backed stablecoin, EURS.
Stasis Launches EURS
Stasis, a financial tokenization platform, has launched EURS, a new stablecoin built on Ethereum’s EIP-20 standard and claimed to be backed 1-for-1 by the Euro. The EURS has begun trading on one exchange already, London-based DSX, and the company says that the order volume is projected to reach $ 500 million by year’s end.
The company adds that EURS was specifically developed to satisfy growing demand for cryptocurrencies from European institutional investors. “EURS bridges the gap between traditional finance and the cryptoeconomy,” commented Gregory Klumov, Stasis CEO. “While cryptocurrency trading is currently dominated by individual and retail investors, STASIS and EURS will pave the way for institutional investors to enter the game and begin allocating capital – that’s what’s needed to take the industry to surpass the trillion dollar mark.”
Working Towards a Maltese License
Stasis is also revealed to be working towards obtaining a license under Malta’s recently approved regulatory framework. Last week, the EU member country enacted three bills into law that are meant to encourage the establishment of cryptocurrency businesses on the island. These include a prohibition on insider trading, market manipulation and misleading ads or ICO whitepapers.
“The Government of Malta has been working diligently and progressively to provide legal certainty to an industry that is currently unregulated”, said Silvio Schembri, the Maltese minister responsible for Financial Services, Digital Economy and Innovation. “We therefore welcome any blockchain initiatives such as STASIS that while being innovative, will still respect and encourage compliance and we look forward to the company applying for a licence under our DLT regulatory framework. The Government of Malta wants to create an environment conducive to the development of the blockchain ecosystem that will make Malta the natural destination for businesses operating in this field.”
Should crypto traders welcome the new alternatives for Tether such as EURS? Share your thoughts in the comments section below.
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Kumamoto Electric Power Company and OZ Mining Corporation have announced that they will start operating a crypto mining farm from August, aiming to install 14,000 mining machines and reach 90 million yen profit by March 2020.
Kumamoto Electric Power Company to Offer Cheap Rates
Kumamoto City in the Kumamoto Prefecture are located on the Kyushu island in southern Japan. Kumamoto Electric Power Company is also set on spreading crypto mining factories throughout Japan, according to a statement, making use of the cheapest electricity price in the country, limited to KEPCO (Kansai Electric Power Company) and TEPCO (Tokyo Electric Power Company). “Since the liberalization of the electric power market took place in early 2016, there are more and more electric power companies offering lower electric fees. In the Kyushu [Southern] region, I believe Kumamoto Electric Company offers one of the cheapest rates,” a salesperson at Kumamoto Electric Company told news.Bitcoin.com.
Japanese Ex-Financiers Started Mining Business in Northern Rural Industrial Zone
A cryptocurrency related startup company run by a group of Japanese men formerly working in the banking industry installed a crypto mining factory with 500 miners in the country side of Fukui, a Japanese coastal city located on the Chinese side of the sea, in the North. Alt Design, founded in September 2017 in Tokyo, offers various kinds of services such as crypto and ICO consultancy, but its founder and CEO Yuta Funayama decided around November of 2017 to start mining crypto in Japan. “We wanted to offer our clients and investors who are mainly Japanese a possibility to see the miners with their own eyes.”
Yuya Yamamoto, a spokesman of Alt Design, told news.Bitcoin.com in an interview: “Japanese people invest in miners abroad, but they expressed some worries saying that it’s harder to check what’s going on at the miner farms, especially if they are located outside of Japan. What we offer also, is the ‘Japanese quality’ service in which we believe the management of our miners is solid.” Alt Design has been mining litecoin and ethereum since mid-March 2018. “Our employees all have a background in IT. The miners operate 24/7 and our staff rotate daily to check if everything is running smoothly,” Yamamoto said, “we believe that our expertise is to tackle any incident quickly.” And the facility can resist natural disasters, he added. The equipment generates about 200 ETH and LTC altogether a month, he said.
Also, while searching for a place to install the plant, Alt Design found an area of Japan where the local government offers subsidies for IT companies such as paying them half of the rent if they install their business in unused local factories. The municipality of Fukui offers low business settling fees in support of new businesses, including IT companies. “We offer companies which want to settle in our city to pay up to half of their rent for three years,” Hiroyasu Yoshida, who represents the Fukui Municipality said. The electricity isn’t cheap everywhere in Japan, but the tariffs are lower in the Hokuriku region, including Fukui, which is to the north of Japan’s main island, facing China.
What do you think of Japanese startups starting mining operations in the north? Share your expectations in the comments section below.
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Northrop Grumman employee seen on video at violent white supremacist rally no longer employed at companyJuly 7, 2018 | dailybusinessnews
Michael Miselis, a Northrop Grumman systems engineer who allegedly is a member of a white supremacist organization and participated in a violent rally in Charlottesville, Va., last summer no longer is employed at the company, a Northrop Grumman spokesman said Friday.
The news follows a Thursday…
PR: Titanic Explorer Joins PO8 – a Bahamian Company Using Blockchain to Recover Underwater ArtifactsJuly 7, 2018 | dailybusinessnews
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.
Freeport, Grand Bahama – David Gallo, one of the most respected Oceanographers in the world has joined PO8, a marine archaeology start-up company in The Bahamas utilizing blockchain technology to unearth billions-worth of sunken artifacts and treasures from Bahamian waters dating back to the Spanish Galleon treasure ships of the Spanish Empire.
With the use of blockchain, PO8 will bring full transparency to all stakeholders including the government of The Commonwealth of The Bahamas, which for the last 18 years has held a moratorium over its territorial waters preventing underwater expeditions due to years of looting, corruption and lack of oversight.
Gallo, a 30-year veteran in Oceanography and formerly the Director of Special Projects at Woods Hole Oceanographic Institution in Massachusetts, will take on the role of Vice President for Exploration at PO8. His illustrious career includes serving as the co-expedition leader to create the first detailed and comprehensive map of the RMS Titanic and the successful international effort to locate the wreck site of Air France flight 447.
For Gallo, the idea of using blockchain for ocean exploration and re-defining ownership of recovered artifacts, is a turning point for the industry. “To me PO8 is the most exciting project to come along in decades,” says Gallo. “It encourages the development of new technologies and techniques for undersea exploration and visualization. In doing so PO8 will accelerate the ability to locate, document, and protect the precious artifacts of Bahamian undersea cultural resources. The waters surrounding the islands of The Bahamas are not only rich with shipwrecks but also
with unlimited treasures of the mind.”
Divisions between the marine archeology community and commercial salvage companies often hinder new exploration attempts, which can result in the loss of the artifacts to slow deterioration. For this reason, PO8’s Co-founder and CEO, Matthew Arnett believes bringing on industry veterans like Gallo, who recognizes the importance artifact recovery without affecting the archeological composition of shipwreck sites is paramount. “We’re thrilled to have Gallo join the core team. Gallo is an authority in the Oceanography field. He understands the importance of blockchain and the critical role it plays in innovation for our industry. It brings all stake holders together. Whether it’s transparent record keeping or changing the way artifacts are owned, blockchain provides tremendous benefits to our industry,” says Arnett.
One unique product PO8 is introducing is the Non Fungible Token or NFT and it’s PAZAR Marketplace. NFTs are created by using ERC-721 tokens on the Ethereum blockchain and represent digital ownership of physical assets like the underwater artifacts PO8 will be recovering. Each distinguishable NFT has a smart contract containing unique asset data cryptographically certified, confirming ownership of the physical asset. NFTs will allow for the the majority of PO8 artifacts to live on the blockchain and physically remain in the custody of the PO8 Foundation for continued studies by the archaeology community and to be exhibited in various museums worldwide, while the ownership of the asset can be from anyone around the the world. NFTs will be tradable on the PAZAR marketplace rolling out later in the year. PAZAR users will be able to buy, sell, auction, lease, trade and leverage their NFTs on the marketplace platform.
For the first exploratory mission, Gallo and the PO8 team has its eyes on a couple of target sites in The Bahamas. Without giving specific coordinates for security reasons, Arnett confirmed “We’ve already identified a couple of locations with cargo manifest records indicating the loads
are significant in value.”
PO8 is currently in the middle of a token sale, which is a form of crowdfunding for future expeditions by selling tokens. The practice is also commonly referred to as an Initial Coin Offering or ICO. PO8 is raising funds by selling utility tokens for future use of the PAZAR Marketplace. PO8 will be holding a Bahamas Independence Day special pre-sale promotion for it’s massive 100,000 plus community worldwide. To register for the token sale, visit https://tokensale.po8.io/.
Restrictions on certain countries apply.
About David Gallo
David Gallo is an American oceanographer. His PhD thesis focused on the subject of seafloor mapping with a wide-range of scientific tools. For nearly 30 years he was employed by the Woods Hole Oceanographic Institution in various positions, most recently Director of Special Projects. He was one of the first oceanographers to use a combination of manned submarines and robots to map the ocean world with unprecedented clarity and detail. He was a co-expedition leader during an expedition to create the first detailed and comprehensive map of the RMS Titanic and he co- led the successful international effort to locate the wreck site of Air France flight 447. He remains very active in undersea exploration, dedicated to education, and is an acclaimed international speaker.
PO8 is a blockchain ecosystem tokenizing the recovery and ownership of underwater artifacts and treasures. Utilizing ERC-721 tokens, also known as Non-Fungible Tokens (NFTs), PO8 provides a unique way to track and verify ownership of assets. PO8 is also creating a first of its kind curated digital commodity marketplace allowing for the transfer of distinguishable asset backed tokens separately within smart contracts. The real ownership of an asset is now determined by its NFT. For more information visit www.po8.io.
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.
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Trading isn’t the only way to acquire crypto. Daily SPA, a Japanese media outlet, has reported on a Japanese man using his company dormitory’s free electricity to mine cryptocurrencies without asking permission.
An Extraordinary Income
“Virtual currencies are processed cryptographically,” Sora-san, a Japanese man working in a major Japanese manufacturing company explained to Daily SPA. “A miner is the machine that supports this encryption process. If you mine Bitcoin, you can process 12.5 bitcoins in 10 minutes, which would be the equivalent of 10 million yen, (US$ 90,000). If you mine Ether, you can make 3 ether worth 200,000 yen (US$ 1,800) in 10 minutes.” he added.
But Sora elected to do things differently than everyone else in order to drastically reduce the costs of mining in Japan.
“Because mining requires a huge amount of electricity, the common sense would be to do mining businesses in Mongolia or China, where electricity costs are very low, compared to Japan. But I live in a company dormitory. My electricity costs are null. I thought, I gotta take advantage of this opportunity,” Sora said.
Right now, Sora can mine 0.8 ether in a month. Once converted into fiat, he makes 50,000 yen ($ 500) as a secondary monthly income. “Once it’s set up, I don’t need to do anything, I just let the machine run on its own. It’s really a ‘free’ income,” Sora explained.
The man started to mine crypto in his dormitory room about six months ago. He said he first investigated the limit of electricity, if any, he is allowed to use for free. With the collaboration of his colleague, he bought a bunch of dryers and let them run all day and all night. “I was worried that the dorm manager would notice it,” he said, “but I was able to figure out the amount of usable watts.” He said he calculated that it would cost more than 20,000 yen ($ 200).
“Now that I found out that I can mine in my room, I am planning to extend installing miners in the rooms of my close colleagues,” he said, laughing. Because the company dormitory includes 100 employees, even if the electricity bill rises a little, it won’t get noticed, Sora believes.
What do you think of this man mining in his dorm room in Japan? Let us know in the comments section below.
Images courtesy of Shutterstock and Daily SPA.
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A revival of Toys R Us might be in the works.
Jerry Storch, a former chief executive officer of the defunct toy chain, has been working with multiple investors on a plan to reboot the retailer in the United States, according to people familiar with the situation who asked not to be named because…
Crypto Fund AG has been granted a license to distribute funds on behalf of “qualified investors” in Switzerland. The permission has been issued by the country’s financial market regulator, FINMA. The firm also seeks approval for another crypto-related service.
First Point of Contact for Crypto Assets
Crypto Fund AG, a Zug-based subsidiary of the Swiss Crypto Finance Group (CFG), has received a license to distribute collective investment schemes to qualified investors, Reuters reported. According to an announcement by CFG, this is the first time a crypto business is granted such permission by the authorities in Switzerland.
The Swiss Financial Market Supervisory Authority (FINMA) confirmed the decision. However, the financial watchdog did not specify if this was in fact the first license of this kind.
According to another important clarification in the report, the permission does not mean the firm is allowed to operate as an asset manager for crypto funds. Nevertheless, the acquired license is a deliberate step, as confirmed by the company’s Chief Executive Officer, Jan Brzezek:
Getting the FINMA license is a big step in the right direction to establish us as the first point of contact for crypto assets.
Crypto Fund AG is also seeking another permission from financial regulators in Switzerland. This one would allow it to create a passive investment vehicle tracking a bench marked index of up to 10 of the most liquid cryptocurrency assets and digital tokens on the market. The index is calculated and maintained by Swiss bourse SIX.
Crypto-Friendly Nation with Positive Attitude
In recent years, Switzerland has established itself as a crypto-friendly jurisdiction. The country has its “Crypto Valley” in the canton of Zug, where Crypto Fund AG is registered. Many other crypto and blockchain businesses are either headquartered or represented there, including companies like the Chinese mining giant Bitmain. The Alpine nation has been considering the possibility to issue a state-backed cryptocurrency, although its central bank has admitted through an official that private digital currencies are better than any state-issued coin.
Businesses from the traditional financial sector have also benefited from the positive regulatory attitude of Swiss authorities. Hypothekarbank Lenzburg, a legacy financial institution, recently announced it was offering bank accounts to crypto companies, as news.Bitcoin.com reported. The bank’s management expressed desire to work with the young crypto sector, speaking of that as a “matter of credibility.”
But not only the private fintech industry and financial sector are interested in cryptocurrencies and the underlying distributed ledger technology. The fully state-owned Swiss Federal Railways, for example, has been selling bitcoin to its passengers for almost two years at over 1,000 ticket vending machines.
And the city of Zug, home of the Crypto Valley, is accepting payments in bitcoin and ether for municipal services, including company registrations. Authorities there are also planning to conduct a blockchain-based vote on questions of local importance.
Do you think Swiss regulators will issue more licenses for crypto-related financial services in the near future? Tell us in the comments section below.
Images courtesy of Shutterstock, Financial Club, National Police of Ukraine.
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