Bitcoin Magazine

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Binance Labs Invests in OTC Trading Desk, Koi

Binance, the world’s largest exchange, has announced they’ve invested $3 million in over-the-counter (OTC) trading platform, Koi.  They’re eager to bolster Koi to help meet their own goals of broadening investment opportunities in the crypto market.

San Francisco-based Koi Trading is an OTC desk geared mainly towards institutional investors and wealthy individuals.  Binance seems to have selected Koi (which also has a branch in Hong Kong) for their solid track record.  Koi CEO Hao Chen expresses his confidence:

“With Koi’s robust AML program, extensive banking relations in the US, investment from Binance Labs, and strong trust amongst counterparties in the Greater China, we aim to be the market nexus that reduces trust and information asymmetry and improves cryptocurrency OTC deal close rate”

Read More About it at - Binance Labs Invests

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Will Blockchain Phones become the New Norm?

Most mobile phones on the market today come from the Asia Pacific. In fact, either a mobile phone maker in the region manufactured it or it was assembled in a manufacturing hub. As you are probably aware, the major manufacturing hubs in the region are China and Taiwan.

Currently, there is a growing trend of handheld devices transitioning from smartphones to blockchain-based phones. Regardless of the direction, the industry assumes, the Asia Pacific region is likely to maintain its lead as manufacturers’ destination of choice. There is no question that blockchain-based phones give digitally inclined founders (entrepreneurs) a rare opportunity to do amazing things.

What entrepreneurs must know

Most founders tend to associate the blockchain with the digital currency. Also, the two major approaches to blockchain-based phones either has a connection to functional lineage or goes beyond it. Obviously, the first batch of these devices will target those in the cryptocurrency world.

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Deloitte Advises Businesses to Adopt Blockchain

While FinTech companies and blockchain startups race to promote their technologies, there may be a different kind of race going on elsewhere.  Linda Pawczuk, head of Deloitte Consulting’s blockchain division, advises businesses to switch over.  She describes how established companies play a role in connecting the world to the blockchain.

Her views and those of Deloitte are explicitly pro-blockchain, and she has no doubt that it has already taken over

Pawczuk’s primary job is to inform businesses about blockchain tech’s advancements.  And her job isn’t always be easy.  She describes a climate of bias and worry that she faces from clients:

“The boards are asking us about it because it’s in the news for bad actors, and boards are nervous that blockchain is affiliated with bitcoin and altcoins and ICOs, and what do boards do to protect their investors? So it hasn’t helped us, the association with the bad actors”

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Big Time Growth: Etheera (ETA) Coin Soars 80,000%

While cryptocurrency prices are fluctuating, some little-known tokens are showing exponential growth. Etheera is one such token. This newly introduced token experienced a growth rate of 82,960% in the last two weeks. It made its way into data aggregators like CoinMarketCap in October, due to its substantial promise.

What is Etheera?

Etheera is a global solution for real estate, according to its whitepaper. With an aim to become a decentralized hub for real estate deals between sellers and buyers, it can work for larger deals as well. This means it can be used for bed and breakfast establishments, hotels, as well as real estate agents and brokers.

Its ICO ran from February to June but failed to achieve the soft cap of 6,000 ETH. On a positive note, the tokens remained in distribution even when the sale failed.

Read More About it at - Etheera Coin News

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e-Krona could reshape the Swedish cashless economy

In many countries around the world, cash is the predominate method of paying for goods at mom-and-pop shops. However, that is not the case in Sweden, as many merchants are gradually dumping cash payments. According to statistics, the percentage of cash circulation in the European country is just about 1%. Indeed, this percentage shows that the country has almost kicked cash payment into obsolescence. Certainly, the last step in this process just might be e-krona.

In the past, Sweden’s apex bank-issued cash dominated business transactions within the country. However, the implication of this was that if the cash system collapsed, Swedish people would turn to privately developed payment methods. Beyond a shadow of doubt, this would be unheard of. According to people in the know, the Sweden’s apex bank, Riksbank, is weighing the option of completely abandoning the cash payment system. In place of the fiat currency, Riksbank is considering rolling out its own electronic currency called e-krona.

Breaking down the Swedish cash policy before e-krona

In Sweden, merchants can decline cash payments. To do that, they can place a banner at strategic locations within the periphery of the shop, indicating that the shops don’t accept cash payments. While many people elsewhere may find this strange, it is legal in Sweden. Under Swedish law, even banks and other financial institutions can turn down cash payments. Shocking!

Read More About it at - Swedish cashless economy

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Blockchain Investor says Bitcoin ETF will Ignite the Next Crypto Rally

The cryptocurrency market reeks of lackluster performance lately, to say the least. To support that fact, data from many cryptocurrency analytical platforms depicts how bad the market has become. However, it appears that things are normalizing now. Indeed, records from CoinMarketCap suggest that the market has become increasingly resilient and stable. Therefore, the approval of a Bitcoin Exchange-Traded Fund (ETF) could help bolster positivity.

Basically, the total MCAP of the market spiked from $200B USD to $220B USD since September 2018. While this may provide reassurance to some crypto investors, others remain unhappy. In truth, the reason is that they need to recoup their investments, but this remains a mirage.

Is a market rally near?

A cryptocurrency investor, Oliver Isaacs, believes that the cryptocurrency market can still rally under one condition.  If the U.S. Securities and Exchange Commission (SEC) approves a Bitcoin ETF, the market may be back to its glory days, he says.

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ICO Fraud: Colorado Securities Division Shuts Down Four More ICOs

Last Thursday, Colorado Securities Commissioner Gerald Rome signed cease and desist orders for four ICOs. The securities division, based on the investigations of its newly created ICO Task Force, issued 12 such orders.  The four latest recipients were Bitcoin Investments, Ltd, PinkDate, Prisma, and Clear Shop Vision Ltd.

All of these ICOs were unregistered securities, and their company information raised some flags

Bitcoin Investment Ltd. claimed on their website that investors could expect at least a 1% daily return. It also said that “the average investment return over a two month period in 2017 was an amazing 95%”. Considering that the SEC clearly explains that promising returns indicates a securities status, it’s no wonder Rome decided to intervene. In fact, he said that Colorado aims to be an “initiative leader” for state-conducted crackdowns.  Finally, Bitcoin Investment Ltd. displayed odd information about its staff, allegedly lifted from another ICO.

Read More About it at - ICO Fraud News

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Five Top Altcoins To Consider for New Year 2019

Altcoins experienced many challenges in 2018. Most are now struggling to rise after the recent bear market that caused significant price drops. However, some of the altcoins show great promise in 2019.

Here are a few altcoins that could be a substantial investment in 2019.

Ethereum (ETH)

The “king of all altcoins” is currently among the top cryptocurrencies in the market. Despite its many challenges, this altcoin is here to stay. Ethereum saw its prices drop drastically for the better part of this year. However, experts in the community state that this altcoin will recover all the previous losses in the coming year, and could pass $1000.

Tron (TRX)

Tron is one of the altcoins that will receive a mixed review in the months to come. This coin, which recently entered the 1 million mark, will be a good investment in 2019. Tron made various strategic moves to ensure they stay in the market like purchasing BitTorrent. This acquisition will mean big things for Tron if the creator develops a much more secure and decentralized torrenting method in the future.

Read More@ Top Five Altcoins News

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Blockchain Technology Could Enhance Transparency in Advertising

It seems like blockchain is the solution that we have been waiting for in the billboard advertising space. Think of a situation where you are walking past a billboard and you only see ads that are relevant to your interests.

Therefore, it seems that’s the future of billboard adverting and blockchain is at the core of this.

Blockchain in Digital Billboard Adverts

Recently, there has been talk that over 7,500 digital billboards will be introduced in New York by 2019. In fact, most of these billboards will launch using a new platform known as reactive advertising. This is basically an updated form of advertising that  will most likely leverage on blockchain technology.

Read More@ Bittpress

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Microsoft Will Help NASDAQ Launch Blockchain-Powered Network

On Tuesday, Microsoft announced it partnered with NASDAQ to provide a blockchain-based platform for the exchange.

How Blockchain Can Improve NASDAQ Services

The NASDAQ’s goal is to connect traders, brokers, exchanges, and clearing houses across the globe through one ecosystem.

Microsoft will help them bridge different types of transactions and services via “ledger agnostic blockchain”.  In other words, they’ll allow the NASDAQ’s Financial Framework (NFF) to use more than one blockchain.  In general, this has been a popular development recently to address scalability issues.

NASDAQ wants to make the exchange faster, safer, and easier

They want very much to adopt blockchain, but don’t want to scare people away.  For this reason, they assure that the system will be very user-friendly.

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Three Reasons Why Cryptocurrency Will Never Replace Fiat

Crypto does have many advantages over government-controlled fiat. However, there are also several barriers it would need to overcome to become the standard.

First, there is the regulatory barrier regarding crypto and fiat

For crypto to work, governments across the world will need to work together. This is possible, but it could be a long process. And there hasn’t been much consistency so far. China banned trading, but people can mine freely.  Japan allows all crypto, as long as it’s registered and meets compliance standards. In the U.S. the SEC continues to deliberate. While a major advantage of crypto is the lack of border, this is also its flaw unless nations can agree.

The second barrier is simply wider adoption

Considering the growth of crypto over the last decade, this is not its most challenging barrier. And developers have definitely been working to make create more user-friendly apps and automated services. Stricter regulations will definitely make investors feel safe.

But for cryptocurrency to completely replace cash, everyone in the world will have to be informed.  In the U.S., it may seem that everyone has computers, smartphones, and the Internet, but many people do not.

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Cryptocurrency: Five Common Misconceptions to Avoid

With anything new, there are always common misconceptions.  Cryptocurrency is no exception to that.

In fact, here are some of the top misconceptions that you might want to pay attention to.

Cryptocurrency is a replacement of fiat money

Among these misconceptions, this one is a bit ridiculous.  Cryptocurrency replacing fiat money is not realistic and makes little sense. While a large percentage of the world population is online, there are still thousands of people that do not have Internet access whatsoever.  Fiat money and cryptocurrency can coexist.  That will not change, at least not any time soon.

Cryptocurrency does not have intrinsic value

One of the most common misconceptions is that cryptocurrencies do not have any value. However, this is not true because, just like any other currency, it has a set value. It is imperative to note that cryptocurrency meets all the criteria of a currency. These features include fungibility, scarcity, durability, transferability, and divisibility.

Read More About it at - Cryptocurrency Latest News

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Blockchain Technology: Renewable Energy Startups to be Aware Of

Since its inception, the blockchain has brought tremendous changes across many industries. One of these is the renewable energy industry. Startups were created in this sector to seek innovative ways to use the blockchain to increase access to renewable energy.

Here are three renewable energy startups to be aware of.

Swytch

One renewable energy startup that is leveraging on this is Swytch.  Swytch is a blockchain-based platform that helps track and verify the impact of sustainability efforts and actions relating to CO2 emissions around the globe. Swytch platform operates with the help of Energy2market GmbH (e2m). Additionally, the Swytch project aims to provide power to homes in Germany using renewable energy. Finally, the plan will reward each home participant with his or her tokens.

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ICO Fraud: Why it Pays to do your Own Due Diligence

If you’re unwilling to do proper research, don’t invest in an ICO.

There are far too many scams that can cost you quite a bit if you’re not careful.

For example, the North Dakota Securities Commission issued a cease and desist order against three firms which were offering unregistered and fraudulent securities under the guise of an ICO.  These included:

Crystal Token, Advertiza Holdings (Pty) Ltd. and Life Cross Coin

Crystal Token (CYL) for example made claims that an ERC-20 token would give investors earnings up to 2% a day.  However, CYL does not have authorization to sell securities in the state of North Dakota.

Advertiza also made false claims regarding their registration with the United States Securities and Exchange Commission (SEC). However, they lacks the qualifications necessary to sell securities in the state of North Dakota. As it turns out, Life Cross Coin was infected with ransomware, malware and other forms of outright identity fraud.

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The Next 3 Coins that Could List on Coinbase

Over the last few weeks, 0x (ZRX) was added to the Coinbase platform.

Before that, it was Ethereum Classic (ETC). Now, we’re attempting to figure out who may be next.  Leading the list is Ripple (XRP).

Coinbase: Ripple

Ripple has become one of the most popular coins on the market. It offers a financial settlement service for banks that allow them to transfer directly and instantly across borders.

SBI Ripple just launched its blockchain-based money remittance app that may dominate Japanese bank transfers.  The app, referred to as MoneyTap assists people to make real-time, free domestic transfers.  They accomplished this by using Ripple’s xCurrent payment solutions.

Additionally, Banco Santander launched a mobile payment solution.  Furthermore, RippleNet powers this platform as well.  It is big for three reasons. One, Banco Santander is the world’s ninth largest financial institution by revenue. Two, it’s the biggest bank in the Eurozone.  Launching its own blockchain solution is significant news.  It’s a catalyst that could very well spearhead the adoption of blockchain in the financial sector.

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Three Major Industries being Changed by Blockchain

Blockchain technology is changing the world as we know it — and fast.

Retailers, corporations, governments, you name it are rapidly adopting the technology.  In fact, it’s already impacting the food you eat thanks to IBM’s latest technology.

IBM just launched its blockchain-based ledger that will track food supply chains.  Known as IBM’s Food Trust Ledger, it will allow food retailers, suppliers and growers to see the supply chain in real-time.  This will enhance transparency and create a way to trace food origin and safety.

Even Ticketmaster is jumping into the fray.

Ticketmaster acquired Upgraded, a blockchain technology company that services the live event industry.  Additionally, Upgraded can convert traditional tickets into secure interactive digital assets. Therefore, blockchain technology provides protection and peace-of-mind for the customer.

The technology has only just begun to transform industries, though

Countless industries can become more efficient and effective when they implement this technology. This is why the demand for blockchain engineers is skyrocketing. Everyone wants to get a slice of the action and there is a shortage of talent to do so.

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Coinbase Adds Its First Stablecoin, USD Coin (USDC)

The mighty crypto exchange Coinbase announced on Tuesday that its new stable coin, USD Coin (USDC) is now available on their exchange.

Until recently, one of the drawbacks to the popular exchange was that it was only supporting the top coins plus fiat

But the addition of USD Coin (USDC) marks their first stable coin and their second ERC-20 token. It was only a few weeks ago that they added Ox (ZRX), which has been one of the most successful currencies so far in Q4. And Coinbase’s previous announcement indicates that they’re considering 4 other tokens as well.

The USD Coin (USDC), first announced in September, is backed 1:1 by the dollar, and it’s 100% collateralized

The understanding is that this token will compete to overtake Tether (USDT). This is due to the fact that controversy shrouds the token and it is sinking well below the dollar. Meanwhile, Binance Coin (BNB) has the same goal.  And of course, several other companies issued stable coins as well, including IBM.

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