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The Daily: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub

September 19, 2018 |

The Daily: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub to Catch Up

Following a decision to recognize mining as an industry, the Islamic Republic of Iran is about to legalize the import of mining equipment. Also in The Daily, an executive at a leading Spanish bank insists cryptocurrencies are “perfect” and must be understood; trying to better understand the crypto space, Cyprus has set up a fintech innovation hub; and in Zimbabwe, the new finance minister is pushing the country’s central bank in a similar direction, calling on the RBZ to create a crypto unit.

Also read: Ethfinex Gets DEX, Cloudflare Goes Interplanetary

Iran to Legalize the Import of Mining Equipment, Considers Exchange

The Daily: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub to Catch UpJust two weeks after Iranian authorities announced a decision to recognize cryptocurrency mining as an economic activity, the government in Tehran is preparing to officially endorse the import of hardware equipment used to mint digital coins.

The move is aimed at supporting the new industry in times when the country’s economy is under heavy pressure exacerbated by reintroduced US sanctions. It also comes after in August Iran stepped up plans to issue a national cryptocurrency.

This week, the Secretary of the Islamic Republic’s Supreme Council of Cyberspace, Abolhassan Firouzabadi, was quoted by Iranian media saying: “Necessary coordination has been done with related entities to allow the flow of hardware needed to mine bitcoin and other cryptocurrencies.” The high-ranking official also noted that besides legalizing crypto mining, the Council is also considering the establishment of an online digital assets exchange.

Cryptocurrencies Must Be Understood, Says Chair of Major Spanish Bank

The Daily: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub to Catch UpCryptocurrencies are “perfect” but are used for “bad purposes” today, so we have to be careful, according to Francisco Gonzalez, Group Executive Chairman of Banco Bilbao Vizcaya Argentaria, Spain’s second largest bank.

In an interview with CNBC, BBVA’s representative also noted that blockchain, the distributed ledger technology underpinning digital currencies, is a “big, big tool”, but warned about the insufficient understanding of it too. Gonzalez, whose bank is actively investing in the fintech space, also pointed out:

We are in the middle of an incredible digital revolution. And in fact, a new world order is in the making, both social and economic…Something must be done in order to spread the wealth of this revolution to everybody…There are some ripple effects which must be understood in the case of cryptocurrencies.

Cyprus Creates Fintech Hub to Catch Up With Competition in the Crypto Space

The Daily: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub to Catch UpProbably as part of its efforts to better understand cryptocurrencies and the underlying technology, the Cyprus Securities and Exchange Commission (CySEC) has established a Fintech Innovation Hub on the island. The Mediterranean nation, where financial services are a significant contributor to the gross domestic product (GDP), has to catch up with countries like Estonia, Malta and Lichtenstein which are definitely ahead in the race to attract businesses from the crypto space.

CySEC Chair Demetra Kalogerou believes regulation has to ensure the transfer of financial goods and services in a fair way. However, she also says that it’s not just about supervision of persons but the very technology that’s being used.

“We don’t want our regulatory framework to be static. We want it to progress in line with the demands of today’s and tomorrow’s investor,” Kalogerou stressed in an interview with Finance Magnates. That’s why, she pointed out, a dedicated hub would allow the Cypriots to experiment with the new technology in a safe environment and understand the risks and benefits before potential investors are exposed to new investment products.

New Finance Minister in Harare Pushing for a Crypto Unit at RBZ

The Daily: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub to Catch Up
Mthuli Ncube

Mthuli Ncube, Zimbabwe’s newly appointed finance minister, revealed he is trying to convince the Reserve Bank of Zimbabwe (RBZ), the central bank of the economically hurting country, to establish a “cryptocurrency unit”, African media reported. The push is part of his plans to mitigate the nation’s ongoing cash shortage and position it better for new investments.

“Zimbabwe should be investing in understanding innovations and often central banks are too slow in investing in these technologies. But there are other countries which are moving faster. If you look at the Swiss central bank, they are investing in and understanding bitcoin,” Ncube said, quoted by IT Web Africa. The minister believes that if countries like Switzerland see value in cryptocurrencies, Zimbabwe should also pay attention.

“We have innovative youngsters, so the idea shouldn’t be to stop it and say don’t do this, but rather the regulators should invest in catching up with them and find ways to understand it. Then you regulate it because you now understand it,” added the representative of the current executive power in Harare.

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


Images courtesy of Shutterstock, Mthuli Ncube (Twitter).


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: Iran to Allow Mining Hardware Imports, Cyprus Creates Fintech Hub appeared first on Bitcoin News.

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Think Twice Before Starting to Take Daily Aspirin

September 17, 2018 |

If you’re one of the millions of US adults taking aspirin daily as a preventative measure, two new studies have bubble-bursting news: Doing so may not do any good—and could actually cause harm. Researchers in both studies found that even low-dose aspirin carries a risk of internal gastric bleeding,…
Newser

The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange Transactions

September 17, 2018 |

The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange Transactions

Wirex, the popular European crypto card provider, has announced it’s expanding to Canada and we have the details covered in The Daily. Also in the rubric, the Coin Stats mobile app now synchronizes transactions from several exchanges, a coin claiming to have AML and KYC features is listed on a major exchange, and the UK government is asked about its assessment of recent crypto market developments.    

Also read: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms

Wirex Offers Crypto Wallets in Canada, Cards on the Way

The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange TransactionsUK-based crypto card issuer Wirex is expanding its operations to North America. In August, the company was awarded a Fintrac and Money Service Business registration by regulators in Canada where users can already take advantage of its wallet supporting several cryptocurrencies: bitcoin core (BTC), litecoin (LTC), ripple (XRP), and ethereum (ETH).

According to a blog post published recently, the company intends to next introduce traditional currency accounts and contactless Visa cards. Wirex plastics allow their holders to convert and spend cryptocurrency just like fiat money, both in shops and online. Their users can also benefit from the platform’s reward program offering 0.5% cashback in BTC on all in-store purchases.

The Wirex team notes that although the UK and the US are ahead in the rankings for traditional blockchain adoption, Canada leads the way when it comes to Ethereum technology implementation. They also point out that the country is currently second only to the US in terms of the number of operational bitcoin ATMs – more than 600 across the country.

Coin Stats Now Syncs Transactions From Binance, Bittrex and Kucoin

The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange TransactionsCryptocurrency portfolio management software Coin Stats has announced the release of new updates for its Android and iOS apps, available in Google Play and Apple Store. The main changes include the option to synchronize past transactions from several exchanges. Support for Binance, Bittrex and Kucoin is currently provided and developers promise to expand the list in the future. Coin Stats also comes as a web-based application.

According to a post on Medium detailing the updates in the app, “You can make it sync your past transactions of all of your portfolios by enabling the toggle in the update popup below. Please note, your Profit/Loss will most probably change but it will become more precise.” Another novelty is that the detail pages of some coins are now styled with the brand colors of the respective project.

AML Bitcoin Listed on Hitbtc

The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange TransactionsAML Bitcoin (ABTC), a cryptocurrency advertised as the coin with anti-money laundering (AML) and know-your-customer (KYC) technology built into its code, has been listed on Hitbtc, currently the sixth largest crypto exchange by daily trading volume. According to Marcus Andrade, Chief Executive Officer of NAC Foundation and creator of the crypto, “The tectonic shift by the world’s governments in the past year shows the urgent need for a digital currency that can both attract the crypto community and be used in commercial and governmental transactions. We are that coin!”

The US-headquartered NAC Foundation, which is the developer of ABTC, also claims the coin boasts some theft-resistant properties. The team behind the project insists AML Bitcoin is compliant with all major national security and financial protection laws and regulations, including the USA Patriot Act and the Bank Secrecy Act.

British Government Questioned About Recent Crypto Swings

The executive power in London has been facing a lot of questions pertaining to cryptocurrencies, with the latest one coming from Lord Taylor of Warwick, who asked Her Majesty’s Government about their assessment of the reports that “the value of cryptocurrencies in the United States is falling” as well as “the potential effects that such a decline might have on the UK blockchain industry.” It turns out not much has been done in that direction.

The Daily: Wirex Expands to Canada, Coin Stats Syncs Exchange Transactions“The Government has not made a formal assessment of any potential implications of recent changes in the value of cryptocurrencies. However, the Government continues to monitor developments in the cryptocurrency market,” Lord Bates, Minister of State at the Department for International Development, said in a response quoted by Finance Feeds.

The exchange comes while the British public is awaiting a report this fall from the Cryptoassets Taskforce, formed in March by the Chancellor of the Exchequer to evaluate the risks and potential benefits of cryptoassets and other applications of the underlying distributed ledger technology in financial services in the United Kingdom. The body is also charged with determining whether and what kind of regulatory approach is needed to address the developments in the crypto space.

Prices across crypto markets have recently experienced a short term recovery after plunging between 10 and 20 percent for most digital coins last week. Check our latest Markets Update to get more details on the latest developments.

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


Images courtesy of Shutterstock.


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: Wirex Expands to Canada, Coin Stats Syncs Exchange Transactions appeared first on Bitcoin News.

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The Daily: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms

September 16, 2018 |

The Daily: Binance Tests Fiat Exchange, Russians Mull Own Crypto Platforms, ECB Not Ready for Coin

Binance, the leading cryptocurrency exchange, has announced it will start testing a fiat currency trading platform in Singapore and we’ve got the story in Sunday’s edition of The Daily. Also, two islands in Russia are competing to host the country’s first regulated exchange, and the ECB says Europe doesn’t need a central bank issued crypto. However, Ukraine’s national bank is advancing with its plans to issue a digital coin.

Also read: Bitfinex Building Decentralized Exchange, Bitpanda Adds Zcash

Binance to Test Fiat Exchange in Singapore

Binance, currently the largest crypto exchange by daily trading volume, will soon be testing a fiat currency exchange in Singapore. The news was spread on social media by Changpeng Zhao, the Chief Executive Officer of the Chinese-run trading platform. “I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18, in 3 days. Invitation only first. Exciting!” CZ said in a tweet this Saturday referring to his announcement during a crypto event in the Asian country. The new exchange will initially open in beta with an undisclosed number of invited users trading in a closed testing environment. The launch is scheduled for September 18. No further details have been revealed yet.

Russians Eye Two Islands for Crypto Exchanges

While authorities in Moscow are still fine-tuning their revamped crypto legislation, to be presented for public discussions in October, participants in a forum in the Far Eastern city of Vladivostok have been busy discussing regulatory matters related to cryptocurrency mining and the circulation of digital coins in the vast country. And while the leading cryptocurrency trading platform explores opportunities to trade fiat currencies, the need to legalize cryptocurrency trading was also among the main topics during this year’s edition of the Eastern Economic Forum held in Vladivostok.

The Daily: Binance Tests Fiat Exchange, Russians Mull Own Crypto Platforms, ECB Not Ready for CoinSeveral Russian regions have been mentioned multiple times as possible crypto offshore zones and regulatory sandboxes. Two of them are Kaliningrad, the westernmost Russian oblast, and Vladivostok, administrative center of Primorsky Krai in the Far East. Both have two discrete territories, Oktyabrsky Island and Russky Island respectively, deemed ideal for such pilot projects. Officials and representatives of the local crypto community in Kaliningrad claim they have made serious preparations and their Oktyabrsky Island can be the first to host Russia’s first regulated cryptocurrency exchange.

According to Vladimir Zarudniy, General Director of the Kaliningrad Oblast Development Corporation, the region is ready to propose its own rules and regulations regarding the verification of users and the taxation of funds upon withdrawal from the trading platform. Kaliningrad’s attempts at self-regulation come at a decisive moment for cryptocurrencies in Russia. The draft law “On digital financial asserts” is expected to be adopted by the end of the year, while an industry association has recently proposed an alternative bill that will also be discussed with regulators and stakeholders in the coming weeks.

ECB President Sees No Need for Central Bank Crypto

The European Central Bank (ECB) has no immediate plans to issue its own cryptocurrency and doesn’t see a need to do that. Nevertheless, according to its president Mario Draghi, the bank is “carefully analyzing the potential consequences of issuing such a currency as a complement to cash.” In a letter to the European Parliament this week, Draghi said that in its analysis ECB is considering the implications in regards to the transmission of monetary policy, the payment systems, the financial stability and, more broadly, the economy.

The Daily: Binance Tests Fiat Exchange, Russians Mull Own Crypto Platforms, ECB Not Ready for CoinECB’s president further elaborated that from an economic perspective, introducing a central bank digital currency could potentially yield both costs and benefits which would depend on its specific features. In his words, a central bank coin could meet demands for the security and digitalization of the economy and allow monetary policy to reach a wider range of economic actors more directly. On the other hand, as Draghi pointed out, a crypto issued by a central bank, which would provide an alternative to some deposits, could affect the intermediation and leverage in the banking system, a traditional role of the commercial banks.

Mario Draghi mentioned several reasons why ECB is currently not considering issuing a digital coin, including the nascence of the distributed ledger technology and the possibility of central banks entering into competition with the banking sector for retail deposits. A similar opinion was expressed earlier this year by a high-ranking official from the Swiss National Bank. Both indicate that the interest in state- or central bank-issued cryptocurrencies among financial regulators and government institutions is decreasing.

Different Mood – Ukraine Preparing for National Coin

The Daily: Binance Tests Fiat Exchange, Russians Mull Own Crypto Platforms, ECB Not Ready for CoinThe above observation, however, is not necessarily valid for all countries and central banks. For example, the executive power in Kiev, which is still working on a regulatory framework for the crypto space, has recently confirmed its intentions to proceed with plans to develop a national crypto. The National Bank of Ukraine (NBU) is preparing to launch a “national electronic currency,” Ukraine’s President Petro Poroshenko said at the annual meeting of the Yalta European Strategy, local media reported. Poroshenko added that several government registries will soon start using distributed ledgers to keep their records. Pilot projects to transfer the state land cadastre and the legal registry to blockchain are already in motion, the Ukrainian head of state noted during his speech at the forum.

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


Images courtesy of Shutterstock.


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: Binance Tests Fiat Exchange, Russians Mull Crypto Platforms appeared first on Bitcoin News.

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The Daily: Bitfinex Building Decentralized Exchange, Bitpanda Adds Zcash

September 15, 2018 |

The Daily: Bitfinex Building Decentralized Exchange, Bitpanda Adding Zcash

Cryptocurrency exchange Bitfinex is working on a project to launch a decentralized trading platform and we’ve got all the details here. Also in The Daily, Bitpanda adds Zcash to its offerings, Bitvo launches technical analysis tools, and Monex makes executive changes at Coincheck.

Also read: Dapp Revival, Remme Launch, 1 Million Cryptokitties

Bitfinex Develops Decentralized Exchange

Bitfinex, the sixth largest crypto exchange by daily trading volume, has announced it will launch a decentralized trading platform. According to a post on Twitter, the new exchange, called Eosfinex, “will facilitate a highly scalable network of peer-to-peer value exchange, unconstrained by borders and built around a foundation of transparency, speed and integrity.”

In a blog post, Bitfinex notes that the platform, to be launched in the upcoming months, will be a high-performance, decentralized exchange built on Eos.io technology. The Hong Kong-based company explains that Eosfinex will be centered on three pillars: decentralization, trust, and performance. The team hopes to deliver complete decentralization through a trustless peer-to-peer trading experience.

Eosfinex will initially list the following pairs: BTC/USD, ETH/USD, and EOS/USD, with more offerings promised in the future. Further elaborating, the developers point out that the exchange contract is flexible and allows for the trading of any token created by a specific trusted contract. “Furthermore, adding a new pair is trivial and can be done by anyone after the trusted contract issues a new tradable token,” the team adds.

Bitpanda Starts Trading Zcash

The Daily: Bitfinex Building Decentralized Exchange, Bitpanda Adding ZcashBitpanda, a leading European cryptocurrency exchange, has added Zcash. “Trading of @zcashco is now live on the Bitpanda website!” the crypto company announced in a tweet this week inviting traders to take advantage of the new opportunity. According to Satoshi Pulse, Zcash is currently ranking 21st with a market capitalization of over $ 585 million and a price of ~$ 120 per coin.

ZEC is a major privacy-centric coin. The cryptocurrency uses ZK-Snarks technology, believed to be hard to reverse, but earlier this year a group of researchers found the promised anonymity can be degraded through certain usage patterns, as news.Bitcoin.com reported. They claimed this could happen when switching between “shielded” and “unshielded” Zcash transactions.

Zcash developers have also made efforts to prevent centralized mining, stating that the struggle against ASIC-supported mining is a priority. In May of this year, they indicated their strong opposition to the launch of a new device by the Chinese mining giant Bitmain designed to process transactions for the privacy coin working with the Equihash algorithm used by Zcash and other similar cryptocurrencies like its fork Horizen.

Bitvo Offers Technical Analysis Tools for Crypto Traders

The Daily: Bitfinex Building Decentralized Exchange, Bitpanda Adding ZcashCanadian exchange Bitvo is launching new cryptocurrency technical analysis tools. According to a press release, the platform’s Technical Analysis Score and Technical Analysis Indicators provide insight to assist in making buy and sell decisions. The Technical Analysis Score tool is targeting new traders providing overall scores ranging from ‘excellent’ to ‘poor’. More experienced traders are offered a full range of Technical Analysis Indicators that can be applied to all cryptocurrencies traded on the platform.

Bitvo’s developers explain that the relative strength of cryptocurrencies is evaluated by an artificial intelligence model which generates a quantitative score comparing the relative strength of a particular cryptocurrency with the overall strength of the market on a particular day. The score is classified into three sub-scores: short-term (less than five days), mid-term, and long-term (more than 20 days). The exchange emphasizes that the indicator represents the daily technical trading analytical strength and is not a predictor of future value.

Executive Changes at Monex and Coincheck

The Daily: Bitfinex Building Decentralized Exchange, Bitpanda Adding ZcashJapanese Monex Group has announced changes to the management teams of two of its companies: the financial services provider Monex and Coincheck, the notoriously hacked cryptocurrency exchange that was acquired after it lost some ¥58 billion worth of NEM (~$ 550 million USD at the time) in one of the biggest heists in crypto history. Kazunaga Nakajima is replacing Kiyoshi Tamura as Monex’s auditor, Financial Magnates reported. Tamura is not leaving the company; instead he is joining the Tokyo-headquartered Coincheck where he will serve as executive director.

The exchange is now a wholly owned subsidiary of Monex Group after its acquisition for ~$ 34 million USD. Following the deal in April, the online brokerage firm revealed its intentions to revive the cryptocurrency trading platform. In May, the Japanese company announced plans to start offering services on the US market where it wants to expand its operations and customer base.

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


Images courtesy of Shutterstock.


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: Bitfinex Building Decentralized Exchange, Bitpanda Adds Zcash appeared first on Bitcoin News.

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The Daily: Dapp Revival, Remme Launch, 1 Million Cryptokitties

September 14, 2018 |

The Daily: Dapp Revival, Remme Launch, Morgan Stanley Wants In?

There are green shoots of recovery throughout the crypto markets today, which some have attributed to Morgan Stanley’s reported foray into the field. We’ve got all the details on that one, plus other tales from across the cryptosphere on what’s shaping up to be a bullish day for bitcoin.

Also read: New French Law Sets Out Guidelines For ICOs

Morgan Stanley Wants to Swap

The Daily: Dapp Revival, Remme Launch, Morgan Stanley Wants In?Investment bank Morgan Stanley is looking to swap fiat trading for crypto trading. More specifically, it’s seeking BTC price return swaps. As derivatives, these contracts would enable investors to gain exposure to bitcoin without having to hold the underlying asset. The news, if confirmed, can be taken as further evidence of bitcoin’s infiltration into the world of institutional investments. The likes of Morgan Stanley and Goldman Sachs have been hesitant to comment publicly on their plans for opening bitcoin trading desks, perhaps due to a desire not to be seen as “pumping” the market, coupled with the need to finalize plans before speaking out. Regardless, the crypto markets seemed to like the story, with digital assets climbing an average of 5% since it broke on Thursday.

ETH Goes Down, Dapps Go Up?

Throughout ethereum’s halcyon days of early 2018, its high price was countered with criticism that no one was using the dapps built upon its protocol. The low number of daily average users, critics maintained, was evidence of ETH’s price being driven largely by ICOs and speculation. Those critics may have had a point, but whatever the case, an oddity has emerged: over the past week, as ETH has fallen to its lowest price in 14 months, several ethereum dapps have seen their usage shoot up.

NFT (non-fungible token) marketplaces in particular have been a hive of activity. Nonfungible.com reports that in the past week Decentraland has seen $ 270,000 of land parcels traded and Cyptokitties has done $ 170,000. Interestingly, ETH’s falling price may be one of the reasons behind this. MANA, the ERC20 required to purchase land parcels on Decentraland, hit record lows this week, effectively diluting the average price of the 10x10m virtual tracts. This flash sale prompted one whale to splurge on 14 adjacent parcels for a total of 15 BTC.

The Daily: Dapp Revival, Remme Launch, Morgan Stanley Wants In?
Vulcat, the one millionth kitty created

The average price of Cryptokitties has also gotten cheaper this week thanks to ETH testing the $ 170 mark. Coupled with publicity generated by the one millionth kitty being born, and the dapp, which once stress-tested the Ethereum network, is back in vogue. With ETH now back above $ 200, it will be interesting to see whether NFT marketplace momentum can be maintained.

Remme Launches Blockchain Cybersecurity Solution

The Daily: Dapp Revival, Remme Launch, Morgan Stanley Wants In?Distributed Public Key Infrastructure (PKId) protocol Remme has released its sidechain testnet ahead of a full mainnet launch. As a result, enterprises will have an opportunity to trial blockchain technology in the form of a passwordless access management system. Remme CEO Alex Momot explained: “The sidechains that we have developed enable businesses to store key certificate data in a decentralized manner, eliminating single points of failure.” He continued:

As a result, enterprises can enjoy the multiple benefits of blockchain technology, still working within the framework they are accustomed to. We now look forward to demonstrating the efficiency and security of this system for storing keys (certificates) data as we introduce a community to sidechains.

Remme aims to harness blockchain to act as a network of trust, providing a viable alternative to password-based systems that are fraught with security risks including those posed by weak and stolen passwords.

What do you think of today’s news tidbits? Let us know in the comments section below.


Images courtesy of Shutterstock, Cryptokitties, and Remme.


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The post The Daily: Dapp Revival, Remme Launch, 1 Million Cryptokitties appeared first on Bitcoin News.

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The Daily: Shapeshift Shuts Down Prism, Jamie Dimon Wants to Be President

September 13, 2018 |

The Daily: Shapeshift Shuts Down Prism, Jamie Dimon Thinks He Can Be Elected President

In today’s edition of The Daily we cover stories about Shapeshift shutting down its decentralized portfolio platform Prism, the bitcoin-hating CEO of JP Morgan, Jamie Dimon, thinking he can be elected US President, an exchange expanding to 20 more states, and further censorship of bitcoin-related accounts on Chinese social media.

Also Read: 66% of Cryptocurrency Enthusiasts Don’t Want to Receive Wages in Fiat

Shapeshift Shuts Down Prism

Shapeshift, which recently announced a shift to a mandatory membership model, is now also shutting down its decentralized portfolio platform, Prism. When it was launched last year, Prism promised the ability to secure a basket of cryptocurrencies without exposure to third party risk, meaning without leaving your funds on an exchange. It also featured some social trading capabilities, like displaying public performance leaderboards so users could learn from top traders and copy their portfolios.

Shapeshift didn’t indicate that the move is related to its recent change of model, instead stating it has been done to focus on developing its core product line. “With the work we’ve done over these past 18 months, it’s become clear to us that there is actually a different (and likely superior) product to be built with this underlying technology. It requires more than a pivot: a reimagining of the product itself…These reasons combined have led us to the conclusion that we should sunset the current Prism product, both in order to focus on our core platform, and to clear the pallet for a potential reimagining of what this technology can do later on.”

Bitcoin-Hating Banker Thinks He Can Be Elected President

The Daily: Shapeshift Shuts Down Prism, Jamie Dimon Thinks He Can Be Elected PresidentJamie Dimon, the CEO of JP Morgan Chase and former director of the New York Fed, seemingly loves to stir up controversy in a way that will grant him maximum publicity before quickly retreating. After attacking bitcoin as a fraud and regretting it, he has now said he can be elected President of the United States – and then almost immediately took it back. Apparently the Wall Street banker thinks he can beat current president Donald Trump because “I’m as tough as he is, I’m smarter than he is.”

It would have been both entertaining and enlightening to discover just how much the American public love bankers in this ultimate popularity contest, but Dimon took his words back as soon as they were made public, proving he is neither as tough nor as smart as he imagines. “I should not have said it. I’m not running for president. Proves I wouldn’t make a good politician.”

Okcoin Expands to 20 More States

The Daily: Shapeshift Shuts Down Prism, Jamie Dimon Thinks He Can Be Elected PresidentOkcoin exchange has announced an expansion into 20 new states with token-to-token only trading. These include: Alaska, Arizona, Colorado, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, Tennessee, Texas, Utah and Wisconsin. And the team have added they are in the process of applying for money transmittal licenses (MTL) in the remaining states for both token-to-token trading and fiat-to-token trading.

“In order for the cryptocurrency market to reach its full potential, exchanges like Okcoin have to work with existing and new regulators for convertible virtual currency, digital goods, and/or securities,” said CEO Tim Buyn. “Our team has worked diligently within the complexities of the US regulatory frameworks. We’re excited to take this major step forward as we aim to break down the barriers preventing a truly global digital asset market while adhering to long established regulations.”

Wechat Blocks Bitmain

According to reports from China, the dominant social network Wechat has blocked one of Bitmain’s accounts (“antminersale”). This comes after last month the network shut down the Wechat social media accounts of several local crypto news outlets, and the government blocked access to 124 foreign exchanges said to be targeting Chinese and banned hotels and other venues from hosting blockchain-related events. Considering these recent actions, some commentators see the move against the mining hardware producer as part of a new crackdown on the industry in China.

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


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 The Daily: Shapeshift Shuts Down Prism, Jamie Dimon Wants to Be President appeared first on Bitcoin News.

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Mark Wahlberg’s Bizarre Daily Schedule Raises Many, Many Questions

September 13, 2018 |

Asked by a fan about his daily routine, Mark Wahlberg offered up a detailed rundown on Instagram … and, well, it’s quite interesting. It starts with a wakeup time of 2:30am, includes three meals, three snacks, two showers, two workouts, and a round of golf, and ends with a 7:…
Newser

The Daily: Nobel Laureates to Advise Industry, DoD Facility to Become Mining Farm

September 12, 2018 |

The Daily: Nobel Laureates to Advise Industry, DoD Facility to Become Mining Farm

In today’s edition of The Daily we cover stories about two Nobel winners to advise the crypto industry, another leading sports team launching a fan token, Malta Stock Exchange and Binance creating a new trading venue, and a Chinese company that will transform a US Defense Department facility into a mining farm.

Also Read: New York Regulator Approves Two New Stablecoins, Gemini Dollar and Paxos Standard

Two Nobel Laureates to Advise Crypto Industry

Cryptic Labs, a commercial research firm, has announced the addition of Dr. Eric S. Maskin and Sir Christopher Pissarides to its Economics Advisory Board, both winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Dr. Maskin of Harvard University will focus on game theory and mechanism design, with an emphasis on how blockchain companies can guide user incentives at a company level, while Dr. Pissarides of the London School of Economics will provide expertise on macroeconomic trends.

Pissarides said: “Blockchain is the most exciting development in financial markets in recent years, but we still don’t know enough about it to recommend a wholesale transition of all our transaction records to blockchain. I look forward to working with the team at Cryptic Labs to leverage my expertise in macroeconomics to help companies improve the use of blockchain, make it more secure and more widely accessible, and examine the implications that it has for trade, financial markets and economic performance.”

Maskin commented: “I think that blockchain technology is potentially important for a modern economy. Most discussions of blockchain technology focus on technical issues. I am more interested in the economic value such technology can bring. I believe that my background in economics and mechanism design should be useful for that purpose.”

Paris Saint-Germain Launches Fan Token

The Daily: Nobel Laureates to Advise Industry, DoD Facility to Become Mining FarmParis Saint-Germain Football Club is the latest sports team to create a fan token. The French club signed a multi-year strategic partnership with Socios and will be the first team to join the platform. As “Official Branded Cryptocurrency Partner”, Socios will benefit from a wide range of marketing rights including in-stadium, TV and digital exposure.

As part of the partnership, Socios will develop a “Fan Token Offering (FTO)” for the club. The token will be listed on the platform and will allow fans to engage through mobile voting and polling platforms as well as grant access to exclusive rewards, content and experiences.

Marc Armstrong, Chief Partnerships Officer of Paris Saint Germain said, “Always at the forefront of digital innovation, Paris Saint-Germain is determined to leverage the opportunities that cryptocurrency can provide. This revolutionary technology will have an important impact on the Club’s overall business strategy and the way we engage with our fanbase. We are very pleased to welcome Socios.com to the Paris Saint-Germain family.”

Malta Stock Exchange and Binance to Create a New Token Exchange

The Daily: Nobel Laureates to Advise Industry, DoD Facility to Become Mining FarmMSX, the fintech arm of the Malta Stock Exchange, has signed an agreement with Binance to launch a digital exchange for security tokens. The new trading platform is meant to leverage Binance’s international reach and the regulated stock exchange’s expertise in regulatory compliance and client due diligence.

“We are excited to continue to help build the blockchain ecosystem in Malta, which has become a global hub for blockchain technology through active and transparent crypto regulations,” said Changpeng Zhao, CEO of Binance. “This partnership will allow Binance and MSX to host traditional financial assets on blockchain technology through security tokens. We look forward to bringing more innovations to Malta and further establishing our presence here.”

Joe Portelli, Chairman of the Malta Stock Exchange, stated, “Malta is taking the helm of regulating blockchain technology and cultivating a centre of excellence within the global digital innovation landscape. The Malta Stock Exchange is thrilled to be teaming up with Binance, a market leader in the digital asset sector, and we look forward to seeing this exciting new market opportunity develop and push the boundaries of the Maltese financial sector.”

Chinese Company to Transform US Defense Department Facility into Mining Farm

Wuhan General Group (China), Inc. (OTC PINK: WUHN) has announced that it’s negotiating a redesign of a US Defense Department data center into a mining facility. According to the company, the 55,000 sq. ft facility has over 3MW of power ready to accommodate up to 1,300 mining rigs with an additional 12,000 to be deployed upon its upgrade to a 30MW facility in 2019. The first order of rigs from Asicminer should arrive in late October and more are expected in the coming months. The company estimates this operation can bring monthly revenue in excess of $ 3.5 million based on current cryptocurrency market prices for the initial 1,300 mining machines in operation.

CEO Ramy Kamaneh said: “We had planned to build this operation three months ago, but with the bearish cryptocurrency market, we took a step back to reassess our strategy. The decision to wait for market stability was a good one, especially considering many cryptocurrency machines are no longer profitable in the current market. We acted in the best interests of the Company and its shareholders and firmly believe that the market has bottomed and a bullish market is starting again.”

What do you think about today’s news tidbits? Share your thoughts in the comments section below.


Images courtesy of Shutterstock.


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The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for Crypto

September 11, 2018 |

The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for Crypto

Malta is not worried about crypto companies operating while their applications for licenses are still pending as the loophole does not mean they are free from obligations under the current regulations, officials from the island nation commented. Also in The Daily, a €3 million palazzo in Valletta has been put up for sale and the owner takes only cryptocurrency, a project aims to turn a Great Barrier Reef island into a crypto micro-economy, and a hotel in Perth cuts third parties out of the booking process using cryptocurrency.

Also read: Revolut to Launch in North America, US Startup Presents Telegram Alternative

Malta Taking Calculated Risk by Fast-Tracking Approvals for Crypto Firms

The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for CryptoMalta, which is working hard to create one of the most crypto-friendly climates in Europe, has given fintech companies moving to the island a whole year to become fully licensed under the recently adopted legislation. Nevertheless, a high-ranking official in Valletta has denied claims that the loophole would open the door for crypto firms to abuse the regulatory framework.

In July, the parliament in Valletta approved three bills designed to regulate the sector and enable the establishment of crypto companies in Malta. Many notable players in the industry, including Binance, Okex, ZB.com, and Bitbay, have either opened offices there or have serious plans for when they set foot on the island. Crypto and blockchain businesses have a full 12 months to apply for a license under the new Maltese regulations.

However, the CEO of the Malta Financial Services Authority (MFSA), Joseph Cuschieri, says the clauses that allow unlicensed companies to carry on their activities until they are fully regulated, will not give them free rein to exploit the legal vacuum, Malta Today reports. Cuschieri stressed that crypto firms setting up businesses in the country before securing a license are nevertheless obliged to abide by the local legal provisions.

The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for Crypto

In a separate statement, Malta’s Prime Minister acknowledged that his government hopes the booming blockchain industry will diversify his nation’s economy. “We’re taking a calculated risk… [by cutting] layers of bureaucracy and offering fast-track approvals for digital players to set up shop on the island,” Joseph Muscat admitted in an interview, according to a report by the Sydney Morning Herald.

€3 Million Valletta Mansion on Sale for BTC

The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for CryptoA historic building in the center of Malta’s capital, 860 square meter palazzo worth an estimated €3 million, has been offered on the property market with a crypto price tag. The mansion, which can easily be turned into a hotel or used for offices, can only be purchased with cryptocurrency. The owner selling the property for bitcoin core (BTC) believes there are many affluent individuals in the crypto business community who view Malta as the most attractive place for investment. Quoted by Coinrivet, he says investing in real estate in Valletta is a smart move for anyone looking to establish themselves in the country which is promoting itself as the “Blockchain Island”. The mansion has been put up for sale through a project called Cryptohomes. The team behind it intends to list more properties priced in cryptocurrency in the future.

Tropical Destination to Be Revived as Crypto Micro-Economy

The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for CryptoThe Great Keppel Island off the coast of Central Queensland, once a popular tourist spot situated at the gateway to the Great Barrier Reef, is now at the heart of a project involving some serious crypto investments. An Australian consortium intends to revive it as a high-tech holiday destination that will offer quality accommodation in a new resort with luxury villas, a golf course, and a marina. The large crypto-backed property deal should also grow into a cryptocurrency micro-economy, claim the people behind it quoted by The Age. The developers from Tower Holdings, owned by Sydney businessman Terry Agnew, hope to fund it through a coin sale, more precisely a Security Token Offering (STO). According to the Australian publication, the $ 300 million project may become the most significant investment along the Great Barrier Reef for years.

Perth Hotel Accepts Cryptocurrency After Relaunch

The Daily: Malta Sees No Issue With Unlicensed Crypto Firms, Valletta Mansion on Sale for CryptoThe owner of a renovated hotel in the Scottish city of Perth has announced that The Lovat will be accepting crypto payments from its guests. Alfredo Alongi believes cryptocurrency can benefit the hospitality industry by removing third parties from the booking process. His hotel is partnering with Incognito, a coin developed by a University of Strathclyde graduate, the Herald Scotland reports. “Cryptocurrency has the potential to boost direct bookings as the transaction exists purely between the customer and the service provider – there’s no middle man and no additional fees for either party,” explains Alongi who is working to revive the business. The Lovat was closed down by its previous owners in January.

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


Images courtesy of Shutterstock.


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