Porsche Increases Investment In Technology, Including The Blockchain

The German sports car manufacturer Porsche will increase its investment to access future technology and business models by € 150 million or $ 175 million over the next five years. This is artificial intelligence, blockchain, virtual and augmented reality.

Investment activities are carried out by Porsche Ventures, which aims to invest in new start-ups that are at an early stage of development and growth.

Porsche Ventures has recently invested in the Berlin-based gapless blockchain startup and the Zurich-based WayRay startup, which develops and manufactures holographic augmented reality display technologies. He is working on the possibility of seamless integration of virtual objects in the driving experience.

In early March, Porsche began testing blockchain applications directly on cars, becoming the first automaker to use the new technology. It has teamed up with Berlin-based startup XAIN, which offers various blockchain and AI solutions.

Porsche has introduced the Porsche Panamera in the blockchain, using energy-efficient mining process from XAIN. It is also currently working on further applications for the technology, including charging and Parking, as well as locking and unlocking the car through the app.

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Swiss Startup Secures $ 100 Million Investment To Launch A Cryptocurrency Bank

Created by former UBS employees, the Swiss startup SEBA raised about $ 104 million to create a ” regulated cryptocurrency Bank ” that will “bridge the gap between the cryptocurrency and traditional financial economy.”

Traditional participants of the financial market are afraid to work with cryptocurrencies because of the risks associated with their volatility and decentralization. Similarly, it is difficult for cryptocurrency companies and investors to move digital assets into the traditionally regulated banking world.

SEBA intends to solve these problems by bringing together a team of experts from Switzerland, focused on obtaining a license to trade banking services and securities from the financial regulator of the country (FINMA) and the development of a new FINTECH platform.

If approved, SEBA intends to open online and physical banks to provide cryptocurrency and traditional financial services.

SEBA aims to bring cryptocurrency and blockchain-based products and services to the market by providing a licensed and controlled one-stop banking solution for individuals, institutional and corporate investors.

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The Regulators Of Wall Street Have Taken Numerous Actions Against Cryptocurrency Companies

Two Wall Street regulators have announced a series of actions, including charging fines, against cryptocurrency-related companies in a flurry of activity reflecting efforts to monitor a popular and unregulated asset class.

Cryptocurrencies, like the well-known bitcoin, are virtual tokens that can be used as forms of payments in various online applications. They can also be sold on special Internet exchanges.

Securities regulators have strengthened their control over the nascent asset class, noting that some tokens can be considered securities, which will make them issue, sell, and trade in accordance with Federal laws.

The Chairman of the U.S. securities and exchange Commission, Jay Clayton, said in February that he believes that most of the sales of new tokens, known as initial coin offerings, should be considered securities. However, the SEC has not specifically classified which coins are securities.

 

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Cryptocurrency Wallet Binance Adds Support For WanChain

Wanchain-an open source cryptographic project targeting to establish a new distributed financial infrastructure that connects different blockchain networks-has really suffered a busy environment. Not only has it become a member of the prestigious blockchain consortium, Wanchain has also been officially integrated with one of the most secure multi-currency mobile crypto wallets on the market.

The first of the two ads Wanchain appeared due to the Hyperledger, who welcomed fourteen new members in your project open source. Created in 2016, Hyperledger consortium aims to promote cross-industry blockchain technology.

With the addition of fourteen new members, Hyperledger now consists of 270 plus organizations whose expertise covers areas such as Finance, banking, logistics, manufacturing and technology.

Wanchain was integrated with Trust Wallet safe mobile wallet recently purchased Binance for undisclosed amount.

Their announcement explained that “integrating Trust Wallet into the Wanchain ecosystem is a great addition to the current WanWallet ” – a dedicated wallet solution developed by the Singapore-based registered Wanchain Foundation.

In addition, with a fully functioning web3 browser built into the Trust Wallet smartphone app, users can easily interact with decentralized applications (dApps).

 

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AT&T Launches Blockchain Solutions For Supply Chains And Healthcare

The world’s largest telecommunications firm AT&T was the last major Corporation to launch a set of blockchain services focused on various industries.

AT & T said that solutions that focus primarily on supply chain processes can help companies automate and digitize processes using blockchain technology.

Citing use cases in various industries including manufacturing, retail, and healthcare, the conglomerate said its customers “will have better resources to track and manage information between multiple parties” using a “highly secure” permitted blockchain platform.

Blockchain platform-as-a-service was designed to work with other well-known platforms, blockchain, Blockchain including IBM and Microsoft Azure, as well as the tools of the Internet of things AT&T can also be tied to the capabilities of automation and monitoring.

The launch of AT&T blockchain platform was not such a surprise. The company has been working in this space for some time.

In addition, last year a number of large firms found it necessary to launch their own blockchain-as-a-service platforms, probably taking their place in what is seen as the next big industry.

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Maltese Law On The Cryptocurrency Will Come Into Force On 1st Of November 2018

The Maltese government is introducing its crypto and blockchain regulation ahead of the Malta Blockchain summit, moving towards its goal of becoming a global center of blockchain-related innovation.

In July, the Maltese government approved three bills that provided a regulatory framework for the cryptocurrency and blockchain industry.

After a period of consultation with the Malta financial services authority (MFSA) and the Malta digital innovation authority (MDIA), the government announced that the long-awaited virtual financial assets act (VFA) and the innovative technologies and services act (ITAS) will enter into force on 1 November 2018.

The law on innovative technologies and services will provide a legislative framework for blockchain and cryptocurrencies, while the law on virtual financial assets will define procedures and requirements for ICO projects.

The announcement coincides with the upcoming Maltese blockchain summit, which will take place in St. Julian’s and will become the official platform to promote the benefits of the newly regulated Blockchain Island for blockchain and cryptocurrency-related companies.

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Cryptocurrency Giant Bitmain Has Chosen Hong Kong For IPO

Bitmain Technologies, the world’s largest developer of products used for cryptocurrency mining, has confirmed that it will hold an IPO in Hong Kong, which will be an important criterion for institutional investors’ interest in cryptocurrency.

Bitmain made a profit of $ 742 million in the first six months of the year. The bulk of the company’s revenue came from the sale of equipment for the production of cryptocurrencies, the statement said.

The company said it would use the proceeds from the IPO to invest in research and development and expand production.

Bitmain develops a variety of microchips, specialized for mining of cryptocurrencies and applications of artificial intelligence, as well as for the production of cryptocurrencies and AI equipment and management of crypto mining farms.

The price of bitcoin has fallen 65 percent since its peak in December 2017, and on Wednesday, one bitcoin was worth around $6,500. This decline has damaged mining profitability and, in turn, has had a negative impact on mining equipment sales.

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The Global Market Of Blockchain-Technologies In The Agricultural Sector Will Grow In The Period From 2018 – 2022

The global market of blockchain technologies in the agricultural sector will grow by an average of 56.4% in the period from 2018 – 2022.

Blockchain technology is a digital and decentralized accounting system that can process data and contracts. In the agricultural sector, farmers can use blockchain technology to track agricultural crop logistics, thereby establishing direct communication with customers.

This report covers the current scenario and growth prospects of the blockchain technology market in the agricultural sector. To calculate market size, the report looks at revenue generated from retail sales of public blockchain technology, private blockchain technology, and consortium blockchain technology worldwide. The report also discusses the key suppliers operating in this market.

One of the trends affecting this market is the growth of IoT (Internet of things) adoption. Some of the key vendors offering blockchain technology are focused on developing technology with IoT platforms to provide additional benefits to the users.

There are several potential use cases for blockchain in agriculture which are the following: food safety, tractability, transaction costs, new markets and logistics.

One of the drivers influencing this market are government initiatives for the development of blockchain technology. Around the world, several government agencies are focused on supporting the introduction of blockchain technologies for the growth of the agricultural sector.

In addition, the report says that one of the problems affecting this market are security problems with blockchain technology in agriculture. Blockchain technologies offer increased transaction control for farmers and other users in the agriculture supply chain. However, growing concerns about security related to blockchain technologies are expected to impact potential market growth.

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NAVAIR Has Partnered With ITAMCO In The Study Of The Blockchain To Track Aircraft

The Naval Air Systems Command navigation system development team (Southwest Navy team) has announced that it is partnering with technology and manufacturing companies (ITAMCO) in Indiana to investigate the use of blockchain in aircraft tracking, the company said.

Knowing the origin and history of aircraft parts that require special attention is a resource-intensive process that stimulates the cost of operating military aircraft. The Navy hopes to change the way it tracks the origin of aircraft parts. Research has begun that hopes to transfer the naval aviation enterprise to a permitted blockchain.

ITAMCO is the developer of the SIMBA network. SIMBA Chain is a product of DARPA’s army project to track secure messages using blockchain.

The fleet support team believes that increased visibility and traceability will help NAVAIR maintain a naval air mission with an increased focus on security and with less cost than we can currently achieve.

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BAIDU Blockchain Lab Launches White Paper

Baidu Blockchain Lab released its first ” Baidu Blockchain White Paper V1.0″, focused on the independent development of the “Xuper Chain” network.

Actually – “Xuper Chain “also known as” Super Chain”, has more than 50 patents with 100% intellectual property rights. In addition, it will help Baidu solve the problem of computing and storage due to the technology of new nodes.

Transaction per second on “Xuper Chain” can reach more than 10k within the parallel technology chain and stereoscopic network, according to “White Paper”.

Baidu uses blockchain technology to implement and run some of its applications.

In April, Baidu launched Baidu Totem, an image rights management system based on blockchain technology.

He also launched Baidu Huixue, an education certification platform. In addition, Baidu also launched its first blockchain-based knowledge quiz app called Duyuzhou.

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Walmart Plans To Use The Blockchain For Salad Supplies

In a press release released on Monday, Walmart and its Sam’s Club division said salad suppliers will be asked to implement real-time salad supply tracking from farm to store using blockchain technology.

Walmart is among other retailers, such as Nestle, that are trying to use blockchain, a common record of data stored in a network of computers, to track the food supply chain and improve security.

According to a letter sent to suppliers, any salad supplier company working with Walmart should start using the IBM Food Trust network to provide end-to-end two-step product tracking. This blockchain platform will allow you to accurately determine the origin of the product. It is noted that within the current system of control over supply chains such tracking is “practically unsolvable task”.

Last year, Nestle, Unilever, Tyson Foods and other major food and retail companies joined the IBM blockchain technology project.

Walmart said on Monday that the Centers for disease control and prevention (CDC) had consulted with the company to improve food traceability to help government officials investigate and find the source of food-borne disease outbreaks.

Over the past few years, several food-related disease outbreaks have occurred in the United States.

At least five people died and dozens became ill earlier this year due to an outbreak of E. coli associated with Romaine lettuce, the CDC said.

In 2016, Walmart collaborated with IBM and Tsinghua University to track food movement using blockchain technology in China.

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Societe Generale And Santander Among The 75 Banks Joined Blockchain System JPMorgan

75 banks have joined the blockchain payment network, patented by JPMorgan, according to the Financial Times. It is expected that members of the network will eventually be able to process 14,500 payments in USD per day.

JPMorgan filed a patent for the interbank information network in October 2017 and published it in May 2018.

The patent describes a common distributed payment system and lists the ways in which it can create faster transactions. The main advantage, according to the Bank, is the ability to cut off intermediaries; under the traditional system, even simple international payments often have to go through a chain of several banks.

Emma Loftus, global head of global payments and accounts receivable at JPMorgan Treasury, said that communication problems can cause serious delays in transferring money, and blockchain technology will allow companies to solve this problem.

JPMorgan initially launched the service with two partners-Royal Bank of Canada and Australia and New Zealand Banking Group Limited. Since then, the number of members has reached 75, including such large institutions as Société Générale and Santander.

Examples of other banks involved in this technology include Morgan Stanley, who earlier in September announced that he has a bitcoin swap ready to launch, and Goldman Sachs, who announced in may that he will soon begin trading cryptocurrency contracts with customers.

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Selerity Will Expand In The Coming Months

Selerity is a financial technology company that uses proprietary AI to deliver content and data solutions designed to automate inefficient financial workflows. The company’s clients range from sophisticated asset management firms and banks on Wall Street to innovative media and technology companies serving retail investors.

The flagship product of Selerity, Selerity Context is an AI contextual search and personalization service for platforms serving financial professionals and retail investors. Selerity Context provides personalized content based on user interests, search queries and what is happening in the world in real time.

Users of Selerity Context can now intelligently search for news, research and Twitter data on the cryptocurrency market and the top 20 cryptocurrencies by market capitalization.

Selerity will expand in the coming months based on industry developments in the ICO market and the underlying technology infrastructure that supports digital currencies.

Selerity Context provides a search for client platforms in the capital markets and digital resources, which serve more than 73 million users, and are available through the API (application programming interface), iFrame and Symphony.

This addition to the Selerity Context will be available at the end of September.

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Google Cancels The Advertising Ban On Cryptocurrencies

Google is lifting its ban on cryptocurrency-related advertising and plans to allow regulated crypto-exchanges to buy ads in the United States and Japan. The new policy starts in October.

Recall that in March, Google announced that it is updating its advertising policy in relation to the cryptocurrency market, including in relation to the initial placement of ICO coins and e-wallets. Advertising of cryptocurrency exchanges, ICOs, e-wallets for virtual currencies and other financial transactions related to the cryptocurrency market will be prohibited on the resources controlled by Google.  The bgans were designed to protect consumers and included initial coin offerings (ICOs) and wallets.

While the cryptocurrency boom has brought with it both concern and profit, it has also spawned fraud. At various points earlier this year, Google, Facebook, Twitter, and Snapchat banned all cryptocurrency-related ads to stop fraud, although their initial tough approaches did not allow even legitimate businesses to buy ads.

Google’s updated policy allows advertisers around the world to apply for certification to serve ads in Japan and the United States separately.

The parent company of Google Alphabet is approximately 86 percent of the total ad revenue. In the first half of 2018, the company received more than $ 54 billion in advertising revenue.

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Dell EMC Considers Artificial Intelligence & The Blockchain For Growth
Of The Servers

Dell EMC Technologies says it plans to maintain its leading position in the Indian server market, as it plans to introduce new products in the field of artificial intelligence, blockchain and analytics.

“The customers we work with want to use these technologies, so we are introducing servers that allow them to optimize traditional workloads as well as invest in new workloads such as cloud, artificial intelligence, Analytics and blockchain, ” said Manish Gupta, senior Director and CEO of Dell EMC India.

Globally, Dell’s servers and network business recorded revenue of $ 5.1 billion in the second quarter of 2018, which is 34% higher in comparison with the period of the last year.

Gupta said such requirements come from industry verticals such as information technology, ITenabled services, banking, financial and insurance services (BFSI).

In fact, five leading Indian companies, in addition to multinational companies, are seeing faster growth in digital technology services with revenue shares ranging from 26% to 28%.

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Juventus Announce Partnership With Blockchain Platform Socios.Com To Start A New Fan-Token

Italian football giant Juventus claims that the number of his fans reaches 340 million, and in social networks 60 million people.

One of the most popular football clubs in the world plans to release a token that will bring millions of fans who are based outside Europe to the football club.

Fans of Juventus will be able to purchase tokens through an innovative scheme, known as Fan Token Offering (FTO), and Socios.com plans to release the “Juventus Official Fan Token” in the first quarter of 2019.

The token, which will be traded on the Socios platform against the native CHZ token, will allow fans to vote via a mobile app that will soon be developed. With the help of the platform, fans will be able to respond to surveys conducted by Juventus, giving them the opportunity to be heard and create an emotional connection between the club and its fans.

The head of the global partnership and corporate income division of Juventus Giorgio Ricci said that the club has always been attentive to innovation and new technologies.  Together with Socios, the football team will be able to provide new perspectives for the group of fans, giving them the opportunity to interact with the club with the help of modern technologies.

The Socios project has indicated that it hopes to attract more football clubs, perhaps their number will reach 50.

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Blockchain Platform Eliminates Brokers In Derivatives Trading

The new platform for blockchain-based derivatives disrupts the derivatives trading market by eliminating the need for brokers and brokerage platforms to create a peer-to-peer (P2P) trading platform.

Launched in collaboration with Thomson Reuters, Level 01 Technologies recently launched the Level 01 derivatives exchange in Hong Kong, which it said offers a transparent and impartial environment for trading derivative contracts.

As part of the deal, Level 01 Technologies will use Thomson Reuters data channels as the primary source for deep learning artificial intelligence (AI) algorithms so that the platform can provide real-time price analysis on derivative contracts. These data can also be used to ensure reasonable, transparent and accurate settlement of derivative contracts once they have been concluded.

Jonathan Loy, CEO of Level 01, explained that his platform is equipped with a smart contract system that also serves as a pre-established, impartial and reliable intermediary for transactions and trade settlements. The system is able to circumvent the need for brokerage platforms that expose market participants to the risk of collusion, negligence and in some cases of fraud.

 

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Cryptocurrency Exchange Winklevoss Is Going To Expand In The UK Market

Gemini Trust Company, the owner of the New York cryptocurrency exchange created by the Winklevoss brothers in 2014, is considering expansion into the UK market. According to the Financial Times, the company has hired legal counsel to advise on a potential move to the UK and has applied to the Financial Conduct Authority (FCA).

Currently, the Financial Conduct Authority (FCA) regulates the cryptocurrency industry, but British politicians have recently been actively advocating that the government consider the risks associated with the digital asset industry and take control of the “Wild West” crypto asset markets. In addition, several cryptocurrency exchanges, including the US Coinbase, are already operating in the UK under an electronic money license issued by the Financial Conduct Authority (FCA), which means that they should consider anti-money laundering methods and perform customer audits.

Cameron and Tyler Winklevoss are among the most ardent supporters of bitcoin, known for their price forecasts, and they have not changed their mind even against the background of the epic collapse in the cryptocurrency market, which has lost more than 60% of its value since the beginning of the year. While bitcoin stubbornly remains at around $6,500, the Winklevoss brothers believe it will quickly be able to rise to $320,000 in 10 years and eventually cross out gold.

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CoinText SMS Cryptocurrency Wallet Launches Support For Dash & Litecoin

Today, CoinText.io, a service for cryptocurrency transactions via text messages, has launched support for Dash (DASH) and Litecoin (LTC) cryptocurrencies in the United States and Canada.

CoinText is an interesting example of innovation, it is an application that allows users to exchange bitcoin cash coins through text messages. It is difficult to call such a business model completely new. But still it is a rather interesting solution on the market.

CoinText is the first full-featured SMS cryptocurrency wallet that doesn’t require apps, accounts, passwords, or the Internet. The service offers frictionless access to the cryptocurrency ecosystem for anyone with an SMS-enabled phone. CoinText is built on a Foundation designed for a complete set of cryptocurrency solutions including contactless payments, money streaming and Internet of things (IoT).

CoinText allows users to instantly send money to anyone with a mobile phone number or crypto address. CoinText users do not need to download the app or register an account to receive funds.

CoinText was launched exclusively on Bitcoin Cash (BCH) in March of this year. BCH currently operates in more than twenty countries. According to the company, there are no immediate plans to expand the Dash and Litecoin service outside the US and Canada.

Thus, while CoinText remains largely focused on developing funds for Bitcoin Cash, it is considering adding support for numerous cryptocurrencies including Bitcoin.

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Litecoin Is Now Supported On Cryptocurrency Debit Card Called BitCard

In Spain, Bitnovo, a simple and intuitive website that offers services throughout Europe for the easy purchase/sale of the crypto most requested by users, has launched support for debit Litecoin cards. Litecoin will be maintained at cryptocurrency debit card calledn BitCard. Decentralized technology eliminates the need for banks. In addition, consumers will be able to use the card to make instant payments or receive euros.

BitCard of the Spanish cryptocurrency company Bitnovo calls itself a wallet card without a Bank. It also converts Bitcoin (BTC), Dash (DASH), and recently supported Litecoin (LTC) into euros.

The method of obtaining a new card is extremely simplified. You don’t need to register for anything other than this. Thus, it removes the need for endless recordings.

Many companies provide crypto-debit cards that support Litecoin (LTC) and Bitnovo has joint to the list of such companies.  Bitnovo does not require a Bank account. Also, in the spirit of supporting a decentralized economy, BitCard does not hold a wallet tied to the service.

In addition, it allows using the method of distributed payment model for consumers. Thus, you do not need a Bank account to purchase a new card. In addition, you can top up your credit anytime and anywhere.

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UNICEF Is Now Accepting Donations In Cryptocurrency

The French division of the United Nations Children’s Fund (UNICEF) reported that it has expanded the number of cryptocurrencies in which it can accept donations by adding Stellar and Ripple.

According to the Executive Director of UNICEF in France, Sebastian Lyon, blockchain technology and cryptocurrencies offered the humanitarian world an opportunity that should not be missed, as they are “an innovation in terms of solidarity and fundraising”.

UNICEF’s decision to accept cryptocurrency donations comes a few months after the success of a campaign known as GameChaingers in February this year, where UNICEF launched an initiative to help children. The Initiative focuses on mining Ethereum. By the end of the campaign on March 31, 85 ETH had been mined.  Subsequently, the funds earned with the help of crypto-mining were subsequently used to partially Finance charity projects for children of Syria.

The GameChaingers initiative proved to be in demand and so successful that the French division of UNICEF decided to expand the list of supported cryptocurrencies. Previously, they had included a Bitcoin, Bitcoin Cash, Litecoin, Dash, Monero and EOS. Now they added Ripple and Stellar.

Those who wish to participate in the GameChaingers initiative can send donations to one of the cryptocurrency wallets of UNICEF. You can also connect your computing power for collective mining of Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero and Dash.

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Cryptocurrency Ethereum, A Victim Of The Success Of The Blockchain

With all the attention paid to bitcoin, it is its competitor Ethereum that gets into the headlines, and the popularity of its Ethereum Blockchain technology is feared.

This month, virtual currencies faced difficulties after the American investment banking giant Goldman Sachs stepped back from its plans to open a trading table for bitcoin.

Unlike the bitcoin blockchain, which carries out transactions only with this cryptocurrency, Ethereum can accept various virtual tokens, as well as include certain digital applications and so-called smart contracts.

Ethereum is also home to two-thirds of the initial coin offerings (ICOs), basically a fundraising tool for companies that issue tokens against cryptocurrencies, much like a stock market issue.

The explosion in the number of ICO in 2017, two years after the launch of Ethereum, has led to the fact that the price of bitcoin has soared to 160 times over a 12-month period.

The ICO craze also caused an overload in the Ethereum network, contributing to the decrease in Ethereum prices in January.

The fall in the value of Ethereum was really dramatic. Since the beginning of August, it has lost more than half its value.

Back in May, the drop is 75 percent, and the total value of the virtual currency fell to about $ 23 billion from $ 82.5 billion.

However, the huge drop brought Ethereum back to its value just over a year ago, at about $ 220 for a single token.

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IOS 12 Apple Includes Bitcoin Symbols

Apple (AAPL) has been largely removed from the hype of the emerging cryptocurrency industry, deciding to even ban cryptocurrency mining-related applications.

However, for the first time Apple has included a pair of Bitcoin symbols in iOS 12.

Symbols are now available with the latest software update and in the new Siri shortcuts app when you set a logo for a shortcut. The shortcut system is a progression of Siri software, allowing iPhone and Apple Watch users to use Siri for multi-step procedures.

While symbols are a big step forward for crypto-enthusiastic Apple users, there are still no crypto-emoticons available for messaging.

Bitcoin is the only cryptocurrency currently available as a symbol (glyph), but users are free to customize the icon color to mimic the Bitcoin Cash symbol (BCH) or any other color they like.

BTC is currently trading at $6,668 and accounts for 54% of the AltDex 100 (ALT100) index, the underlying index for cryptocurrencies and high capitalization tokens.

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Alibaba Is Going To Launch Blockchain-Platform Called Baas

Ant Financial, the financial subsidiary of Chinese e-Commerce giant Alibaba and the highest valued fintech company in the world, and the world’s most valuable unicorn company, with a valuation of US$150 billion,  is launching the BaaS (Backend-as-a-Service) blockchain platform.

Jiang Guoefei, Vice President of Ant Financial, announced about the launching of news platform on 20th of  September at the conference Ant Technology Exploration Conference (ATEC) held in Hangzhou.

As part of its drive to commercialize the technology, Ant Financial conducted its first blockchain-based money transfers this summer using a newly developed blockchain-based money transfer system. During the procedure, the transfer of funds between AliPayHK via Ant Financial – version of the popular mobile payment application Ant Alipay – and the Philippine payment application GCash was demonstrated.

In addition, Ant Financial provided funding of $ 14 billion for the development of blockchain solutions. Most notably, Alibaba ranked first place  on a new list that estimated the number of Blockchain – related patents filed to date-the conglomerate filed a staggering 90 such patents, beating even IBM.

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Switzerland Is Committed To Improving Communication Between Banks And Cryptocurrency Companies

In the quest for the resettlement of financial investments Switzerland, as a company, working in a crypto-currency and blockchain-space, opens corporate banking accounts.

According to a recent Reuters report, the Swiss bankers Association (SBA) released guidelines for banks on Friday that may want to do business with more than 530 digital asset launch companies located in Zurich and Zug, known as the Swiss crypto valley.

Previously, only a few cryptocurrency companies have been allowed to insert money into ICO, as the banks largely feared that this will lead to an inadvertent breach of anti money laundering (AML) and other rules.

With the new guidelines, know-your-customer (KYC) and anti-money laundering (AML) regulations, recommended specifically for ICO, have been added to the fiat currencies, as well as those collected through other cryptocurrencies such as Ethereum (ETH).

The SBA finds out that these are the newest guidelines that can only be used for banking, but for blockchain and cryptocurrency companies, which have the advantage of getting access to traditional banking services for a long-term commitment.

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The Largest Telecom Of South Korea Can Integrate Blokchain In The Series Of Existing Products

The Largest Telecom Of South Korea Can Integrate Blockchain In The Series Of Existing Products

SK Planet, one of the largest telecommunications companies in Korea, seeks to intensify its blockchain game with nationwide cooperation.

The telecommunications giant signed a memorandum of understanding with the ICON fund. The cooperation will allow SK planet to integrate the blockchain system into a number of existing products, such as OK Cashbag. The cooperation is aimed at making “a real case of using the blockchain.”

OK Cashbag is already one of the largest loyalty programs in the country, with almost 38 million subscribers – half the population of South Korea.

We will have to wait before we know exactly how this use case will look. The announcement does not contain any specific details about how ICON and SK plan to include a blockchain in their product range.

Unlike other companies in the space of the blockchain, ICON has never done its open source software.

It should also be noted that ICON is primarily an ICO platform, and ICO is banned in South Korea – at the moment.

ICON was able to circumvent the ban by launching its business from Switzerland. Despite this, it still had its ICX token, registered on all major Korean exchanges.

As for the prohibition of Korea for cryptocurrencies, it will be interesting to see if SK Planet regulators’ participation will give the blockchain another chance.

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Switzerland And Israel Cooperate On The Regulation Of Cryptocurrencies And Blockchain

Swiss Finance Minister Ueli Maurer recently visited Israel, along with Secretary of State for International Financial Affairs Jorg Gasser, citing their goal of gaining access to Israeli markets to allow Swiss banks to trade there.

Reuters reports that the two countries have now agreed to cooperate in the field of financial technology, cryptocurrency and blockchain regulation after their discussion with the Israeli government.

Switzerland has long been on the path of introducing blockchain innovation, welcoming startups and researchers from all over the world. Zug, a small Alpine town in Switzerland has turned into a blockchain town –  the town, which is now often called the crypto valley. ShapeShift exchange and Ethereum Foundation have headquarters in Zug, along with many other companies.

Despite the favorable regulatory climate in Switzerland, the Central Bank is less active. In July, it was pledged that organizations in the country are trying to stop the flow of companies leaving to other countries, faced with difficulties in opening bank accounts because of the Central Bank’s concerns about the opaque nature of crypto-crowdfunding.

After the government began investigating the possible use of the state crypto currency “e-franc”, the Central Bank rejected the idea, saying that crypto technology is not good enough. However, a new startup called Alprockz is now working on stablecoin based on the Swiss franc.

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Newcastle United Wants To Make Its Own Cryptocurrency Scheme

Football Club Newcastle United, is considering the possibility of launching its own cryptocurrency. Last weekend, the Times reported that Newcastle and Cardiff were among the Premier League clubs in discussions with SportyCo, a microfinance and crowdaging company.

Under this scheme, using Bitcoin, the world’s most popular analogous digital currency, fans will be able to buy “tokens”, which can then be exchanged for tickets and goods, and which can potentially bring in additional revenue for the club.

It is reported that such funds can then be used to support the potential budget of Rafael Benitez, although it is not clear how this crypto currency will be converted into cash.

The Brazilian team of the B Avai Series has recently launched such a scheme, while Paris Saint-Germain is also considering the possibility of doing the same.

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NEO Global Capital Invests In The Perspective Blockchain Startup Muzika

Muzika, a Korean blockchain project that attracted the attention of high-profile investors in the blockchain space, announced an investment deal with NEO Global Capital. Investments will help incubate the Muzika project and ensure the integration of resources from both sides.

The Singapore company NEO Global Capital is a strategic investment tool of the NEO fund and one of the largest owners of cryptocurrencies in the Asia-Pacific region. One of the key investment goals of NEO Global Capital is not only to promote the massive introduction of blockchain technology in various branches of the real world, but also to destroy existing business models. Muzika, with an existing user base of 2 million people and investments from first-class crypto-and-blockchain investment groups such as T3 Ventures, Everest Ventures Group, 256 Ventures, has demonstrated its ability to disrupt the status quo in the global music industry.

The investment group focuses on investing in projects related to blockchain technology. The strategic partnership of NEO Global Capital is developing rapidly, in part because of strict adherence to the principle of due diligence in investing. Previous projects have made great strides in helping to accelerate the introduction of blockchain in Asia, to make the industry a commercial reality. Capital investments from the authoritative investment group NEO Global Capital, of course, will be a turning point in the commercialization of Muzika, as it begins its expansion in several markets.

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Bancor (BNT) Expands Beyond The Limits Of Ethereum (ETH) And Eos (EOS)

The Bancor Protocol is a standard that allows anyone to easily create fully liquid smart tokens that calculate their own value and allow one party to convert one token to another without the involvement of the other party.

Bancor (BNT), the standalone liquidity protocol for ERC-20 tokens, announced this week that it will expand to launch BancorX, a decentralized liquidity network supporting the Ethereum (ETH) and EOS (EOS) networks.

According to the announcement, Bancor will soon allow users to perform instant EOS-based token conversion through their system of automated smart contracts called repeaters.

Bancor claims that some of the benefits of the new protocol for EOS include 1-second transactions, zero transaction fees and a lack of frontal risk.

Bancor has already processed more than $ 1.5 billion token conversions since it was launched on Ethereum and currently supports more than 120 tokens.

The BancorX test system is now active, and Bancor offers 500,000 BNTs in total to developers who improve contracts or the user interface.

BNT currently has a market capitalization of $ 77.5 million, making the token the 71st largest coin in the AltDex 100 index (ALT100), and the 7th in the Exchange AltTex (ALTEXC) token exchange index.

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The Fundamental Error In The Software Of The Bitcoin Could Lead To The Collapse Of The Currency

Bitcoin is often called the golden standard for cryptocurrency, but even money based on OG blockchain has potentially catastrophic flaws hiding in the software that supports it.

On Tuesday, the developers of Bitcoin Core – the software that effectively used Bitcoin blockchain – released a new version that fixed a vulnerability that allowed the malicious user to destroy the network, which made digital coins completely useless. The error was described differently as “very scary,” “bigest” and one of the most serious mistakes ever found in Bitcoin.

It is noteworthy that the error was not in the Bitcoin protocol itself, but in its most popular software implementation. Some cryptocurrencies built using Bitcoin Core code were also affected-for example, Litecoin fixed the same vulnerability on Tuesday.

The documentation describes the error as a “denial of service” vulnerability that was introduced in Bitcoin Core last year.

Bitcoin is a peer-to-peer network that operates through a network of “nodes” that ensure that transactions comply with blockchain rules (for example, that you can not spend the same coins twice). Approximately 95 percent of users working with Bitcoin nodes use Core, and the corrected error meant that any primary node receiving the wrong block would be instantly destroyed, and not just rejected for invalidation.

In the worst case, this can lead to the failure of the entire network or its destruction, resulting in clusters of nodes will be separated from each other.

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Venezuelan Company Dash Text Allows Cryptocurrency Transfers Via SMS

Dash Text, a Venezuelan company providing SMS transactions based on Dash, is now in the public beta and can be accessed via a five-digit short code on Movistar, one of the country’s three major telecommunications companies. According to co-founder of Dash Text Alejandro Echeverrie, Dash Text aims to make access to Dash easier to solve problems with hyperinflation and the collapse of payment systems in their country.

Venezuelans living abroad annually send remittances to the country for about $ 1 billion. However, the recent tightening of the rules for the transfer of funds made it very difficult to send money to the country. Ernesto Contreras, business development manager for Dash in Latin America, considers Dash payments through Dash Text as the ideal solution for these barriers.

“In Dash, we understand that cross-border transactions are expensive and take a lot of time, and in Latin America there is a clear opportunity to help millions of people who need to send money home at any of the money transfer points,” Contreras said.

Dash is used in trade more than any other cryptocurrency in Venezuela. Technical director of Dash Text and co-founder Lorenzo Rey plan to expand their functionality for integration directly with trading terminals so that goods and services can be purchased directly via Dash via SMS.

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British Shipping Giant Uses Blockchian As A Solution To The Problems With Supply Networks

Leading port operator in the UK plans to study the blockchain as a possible tool to increase the productivity of British shipyards.

Associated British Ports (ABP) today announced the signing of a memorandum of understanding to work with developers of blockchain-logistics, reports Marine Transport International (MTI). The Associated British Ports (ABP) runs approximately 21 ports throughout the UK and is responsible for handling 25 percent of the country’s shipping.

This partnership will allow the two companies to work together to learn how a blockchain can be used to increase efficiency and throughput in ports across the UK. Of course, these “solutions” have yet to be worked out, so the specifics of how technologies will be used are yet to be clarified.

Currently, each participant in the supply chain uses another computer system to track shipments. In some cases, data must be entered manually from one system to another when the goods arrive at the port.

Naturally, this is a less effective system. Associated British Ports (ABP) claims that it will create a solution based on a blockchain that will allow all participants in the supply chain to communicate more easily and efficiently on a single system.

Blockchain is a big business in the shipping world. This is not the first example of a decentralized technology that is used to handle large loads. Earlier this year, a significant number of almonds were shipped from Australia to Germany, tracked completely by blockchain.

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Banks Are Going To Transform Trade & Commodity Finance With A New Blockchain Platforms

Several largest banks of the world, including Citi, MUFG and Societe Generale, have united their efforts to carry out venture trades to digitize the trade and commodity finance sector through an open platform based on a blockchain.

Named komgo SA, the new independent organization has the support of 13 banks and trading companies such as ABN Amro, BNP Paribas, Citi, Crédit Agricole, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, and SocGen – as well as the energy giant Shell and SGS, which is the world leader in the field of inspection services, verification, testing and certification.

The decentralized Ethereum blockchain-platform, advanced in partnership with ConsenSys, is oriented at starting the project implementation by the end of the year.

The first will allow to standardize and simplify the know-your-customer (KYC) processes without the use of a central database-the exchange of documents will be carried out in an encrypted form for blockchain.

The second is digital letters of credit allowing merchant houses or other platforms to provide digital trade data and documents to customers of komgo SA.

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Hackers Stole $ 60 Million From The Japanese Cryptocurrency Exchange Zaif

The operator of the Japanese currency exchange Zaif, said on Thursday morning that hackers stole 6.7 billion yen ($ 60 million) of digital currencies.

Part of the stolen amount, about 4.5 billion yen, belonged to the clients of the exchange.

The exchange was hacked on September 14 between 5-7 o’clock in the evening. Three types of digital coins-Bitcoin, Bitcoin Cash and Monacoin-were stolen from “wallets”, which are connected to the networks around the clock.

The company discovered the theft on September 17, after which the exchange immediately stopped all operations. The Technical Bureau confirmed the novelty about the hacking on September 18, informing the Agency of Financial Services and investigative agencies about it.

In order to compensate for the losses of customers, the Technical Bureau will sell most of its shares to a group of companies under the management of financial services provider Fisco.

The technical office also signed a contract with the system consultant Caica to strengthen security.

In January, Japan’s cryptocurrency markets were shocked when Coincheck lost 58 billion yen as a result of hacking.

From January to June this year, the National Police Agency of Japan learned of 158 theft of the cryptocurrency in the total amount of 60.5 billion yen. This compares with 149 thefts totaling 660 million yen for the whole of last year.

Major hacking gets the most attention, but most thefts occur from accounts owned by persons with a low level of awareness of proper security.

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Blockchain-Platform “Snapparazzi” Launches The Forum For Media And Advertising Exchange

The blockchain platform called “Snapparazzi” will be launched as a decentralized independent forum for media and advertising exchange, where users are paid for the media content that they create. It is expected that the platform will solve the problem of incomplete coverage in the media.

When an event of political, social or entertaining value happens accidentally somewhere in the world, a television or news team does not always manage to capture it. Now anyone who has a smartphone and Snapparazzi application can record exclusive news footage that can be sold to television, newspapers and other media. The platform will allow media companies to purchase exclusive footage in real time.

Snapparazzi works on its own digital currency SnapCoin (SNPC). This Ethereum based token is used for each transaction and facilitates payment in the Snapparazzi platform.

After the buyer and seller agreed on the price of the content, in the open auction process in accordance with the terms of the smart contract, buyers pay for the content in a fiat currency. However, the content creator, in turn, will receive payment in its own SNPC token.

Snapparazzi earns money by charging commissions from the cost of the generated content transaction.

The preliminary sale of Snapparazzi tokens began on September 14 and will last until September 24. She has already raised $ 5 million in private sale. The initial offer of coins will be held from 1 to 29 October.

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Frankfurt School Will Deliver Certificates Based On Blockchain

As part of the pilot program, graduates of one of the courses at the Frankfurt School of Finance and Technology Management will be able to prove their successful completion of the course with certification based on Blockchain.

For the pilot project, the Frankfurt School of Finance and Management works with Consensys, one of the leading software companies in the field of blockchain. Consensys has developed a decentralized application (DApp) for so-called sovereign credentials, in which certificates are not necessarily published on the blockchain, but only copied to the computers of numerous network members.

This makes the Frankfurt School of Finance and Management the first educational institution in Germany that offers its students certificates based on blockchain. The new technology is also used in Switzerland at the University of Basel. At the end of April, the Center for Innovative Financial Technologies (CIF) presented the course certificates registered on the Ethereum blockhouse.

 

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Blockchain-Startup Ripple Is Preparing To Launch xRapid – Service Of International Payments With Low Commissions

Blockchain-startup Ripple is preparing to launch the commercial xRapid platform in mid-October 2018.

The company explains that xRapid uses XRP as a kind of bridge between currencies. This will allow banks and payment providers to process cross-border transactions faster.

Companies launching xRapid will be able to offer users a high-speed service for cross-border payments (the transaction time does not exceed three seconds) with a low level of commissions. Actually, the speed of transaction processing and low cost are the main features and competitive advantages of this system.

The xRapid platform was tested in early 2018. The tests involved large services like Moneygram and Western Union. In addition, in August 2018, Ripple conducted tests of the system with three crypto-exchanges – the American Bittrex, the Mexican Bitso and the Philippine Coins.Ph. Partnership with these crypto-exchanges will create a “healthy environment for the exchange of digital assets,” said representatives of Ripple.

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Jupiter Chain ​​In A Partnership With Deloitte Will  Build A Data Exchange System Based On The Blockchain In Southeast Asia

Singapore’s Jupiter network announced on Tuesday a strategic partnership with Deloitte’s professional services company to develop and promote a blockchain-based data exchange system in South-East Asia. The platform will allow users to monetize data by connecting to companies using blockchain.

Under the agreement, Jupiter Chain will provide its own blockchain solutions, while Deloitte will promote its solutions and risk management technologies. Data exchange occurs at the right time, especially against the background of stricter rules concerning the ownership and management of personal data. The London company will become one of the validating nodes in the Jupiter Chain system.

“Deloitte” is included in the “Big Four” audit firms along with PwC, EY and KPMG. The company was an active promoter of DLT, conducted an audit of several blockchain firms and conducted relevant research. One of the latest polls showed that interest in DLT is shown by 74% of large companies.

The data exchange, developed by Jupiter Chain, is aimed at transforming the way of managing, exchanging and monetizing data. The platform will allow users to better control their data while maintaining confidentiality.

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CoinText Is Already Available In Five European Countries

Today, CoinText.io, the first full-featured SMS cryptocurrency wallet that does not require applications, accounts, passwords or the Internet and which provides a service for Bitcoin Cash (BCH) transactions, has expanded its services in five new European countries, including Belgium, Ireland, Finland, Norway and Lithuania.

CoinText is a full-featured cryptocurrency wallet that does not require the Internet, applications, accounts or passwords. Because wallets are available via the Short Message Service (SMS) instead of a software application, it works with any type of mobile phone, including iPhone, Samsung, Android and even old Nokia flip phones.

“CoinText is the mechanism of adoption,” – explained the founder and CTO CoinText Vin Armani.

Users can send money to phone numbers or BCH addresses by sending text commands, such as SEND $ 1 PHONENUMBER or SEND $ 1 BCHADDRESS. The deal is almost instant.

Users receive a purse by sending a START message to the access number or when a cryptocurrency is sent to their phone by another user. CoinText access numbers for new European countries are currently active for public use.

With this extension, CoinText now serves seventeen countries with a total population of about 770 million people, the company said.

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mCoin Is The Only Cryptocurrency Without The Internet In Africa

ONEm Communications is pleased to announce the launch of its mCoin “pseudo-mining” program across Africa. mCoin uses “pseudo-mining” to distribute coins to the masses.

Users will receive 100 free bonus fom mCoins upon registration and the first ever SMS wallet. In addition, they will receive a referral code to share with friends and family, as well as receive more mCoins for each successful referral.

mCoin is the only cryptocurrency that works with and without the Internet.  On any mobile phone, anyone can own, store, earn, trade mCoin using the revolutionary SMS wallet.

According to the world economic forum, more than 4 billion people do not have access to the Internet. As a result of  Bank’s view, affordable financial services can be a solution to poverty, narrowing the income gap and accelerating economic growth. Cryptocurrency technology has the potential to be part of the solution. This could allow 2.5 billion people without Bank accounts to access financial services.

mCoin was created to empower non-bank people. It provides affordable financial opportunities such as electronic payments, current and savings accounts for billions of non-banking people around the world.

For the first time people will be able to transfer mCoins from offline SMS wallet to digital app wallets. Having blockchain technology available through SMS, along with real-use apps, is the first step in giving billions of people the opportunity to experience e-Commerce on a basic mobile phone without the Internet.

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Mastercard Offers A Blockchain – Based System For B2B Transactions

One of the largest providers of financial services, MasterCard has developed a blockchain system that facilitates B2B transactions. This system is set out in a series of three patent applications filed with the US Patent and Trademark Office (USPTO).

“At present, existing settlement systems often operate using settlements on individual payment transactions. For example, after processing a transaction, the issuing bank transfers the funds for this particular transaction to the payment network, which then transfers the funds for that particular transaction to the acquiring bank. Since most enterprises are not financial firms or are financially regulated, innovations in the field of B2B transactions leave the payment flows between the parties intact, “the patent application states.

Mastercard believes that there is a need for a single payment system that allows businesses to perform B2B transactions more efficiently. Such a system may well become a blockchain technology. The patent application also notes that the blockchain system developed by MasterCard will allow storing data in a clear format that is easily accessible and verified by related companies, and will remain resistant to unauthorized interference.

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Engineer SpaceX Launches Cryptocurrency Exchange Of Institutional Level

Joshua Greenwald, who spent more than ten years as a trader before his stay at SpaceX, founded the LXDX crypto exchange, which seeks to make the class of the emerging asset more accessible to institutional investors, and also to provide individual investors with professional trading tools.

LXDX received funding from such firms as venture capital unit Dymon Asia Capital, an investment group of $ 4.9 billion, based in Singapore. Recently, LXDX has moved to Malta, a country using cryptocurrency, which has stylized itself as the world’s first “Blockchain Island” in Europe. At the same time he joins a number of exchange heavyweights, such as OKEx, Binance and ZB.com.

The startup also joins a growing race among firms seeking to attract institutional investors, such as pensions, donations and hedge funds to cryptocurrency markets, which, according to analysts, including Mike Novogratz, will spur the next large trial turnover of the cryptocurrency.

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Cryptocurrency Project Tezos Launches A Major Version Of Its Network

The Tezos cryptocurrency project is preparing to launch the main version of its network, which underlies the new virtual token.

In July 2017, the Tezos fund raised 232 million US dollars to create a network and issue a new type of cryptocurrency for its supporters in one of the largest in the history of initial coin offerings and launched the initial version of the network one year after several months of delays, reports Reuters.

As reported by the fund, Tezos plans to go to the full version – mainnet.

This launch would mark a multi-scale achievement in a project overshadowed by internal strife and delays. Tezos continues to face litigation in the United States of America and the threat of increasing the level of regulation of the nascent sector of the cryptocurrency. In addition, several group suits were filed against the organizers of the project in the United States claiming that the collector violated federal securities laws and deceived investors.

Tezos fundraising was structured as a donation, although some participants say they believed it was an investment.

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BitGo Receives US Approval For Safekeeping Cryptocurrency

The BitGo Trust Company received US approval as an adjustable qualified curator for institutional investors.

Using its innovative security system with several signatures, BitGo is working to establish itself as a qualified custodian, which can ensure both compliance with security at the highest level and compliance with regulatory requirements.

To become a regulated provider of custody services, BitGo filed an application for registration as a public trust company in South Dakota, which means that the company must regularly submit financial audits, comply with governmental regulations regarding anti-money laundering (AML) and know-your-customer (KYC) and monthly send relevant declarations.

BitGO guardian system is based on an existing wallet company, which supports seven coins: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Zcash (ZEC), and Bitcoin Gold (BTG ). It also offers more than 70 ERC20 tokens, which are only available to customers with BitGo contracts.

Currently, the American Stock Exchanges Coinbase and Gemini offer custody services, while banking giants Goldman Sachs and Citigroup, is reportedly preparing similar operations.

 

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Samsung SDS Develops Customs Blockchain System Of South Korea

Samsung SDS will apply its blockchain solution to establish the world’s first custom export clearance framework based on DLT.  The program is led by the Korean Customs Service, an institution managed by the Ministry of Strategy and Finance of South Korea. The Korean Customs Service achieved an agreement with 48 state agencies and firms, involving insurance companies and delivery services for the project.

The organization designes to create a system of collaboration to respond to amendments in this industry. This system will enable to reconsider the business processes and will allow its participants to obtain access to more advanced export, customs and logistics services. In July this year, the Korean customs service chose Samsung SDS as its main business operator. Samsung SDS should improve a system of customs clearance of exports in accordance with the efforts to implement innovative technologies for customs authority in response to increased volumes of trade and electronic commerce.

IT department of the electronic giant Samsung Group will use its blockchain platform Nexledger, which is focused on enterprises. The platform allows users to make digital payments and apply solutions for identification and authentication.

Samsung SDS said that the logistics system will allow export-related companies to freely exchange relevant documents, from customs declarations to delivery. The solution will also prevent falsification of data and documents. The company noted that its Nexledger platform can handle a large number of transactions in real time. The smart contract function provides a high degree of security.

The company added that it will develop its technology of a distributed ledger, combining it with other innovative technologies, such as artificial intelligence, large data, cloud and Internet of things among others.

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Brazil Football Club Avaí Launches Own Own Cryptuality

Just a few days after the French football giant Paris Saint-Germain (PSG) announced its own cryptocurrency, complete with the initial coin offering (ICO), the Brazilian football club Avaí came up with a similar plan.

Announced on Wednesday, AVAÍ FC is partnering with SportyCo’s sports investment ecosystem based on the blockchain and the Blackbridge Sports football investment platform to raise funds around the world through the ICO, seeking to raise $ 20 million in sales.

According to the official press release, the coin, called Avaí FC Token, is said to be available for sale in October, and the ICO will end in early November. Football fans can be part of this vision of the ICO, which aims to bridge the gap between the new Fintech industry and sports using blockchain technology, the release added.

President of AVAÍ FC Francisco Jose Battistotti stressed that ICO will help the football club in expanding the global base of football fans. With this vision, he said that Avaí will be a stable member of the Brazilian Serie A championship and will be able to reach the Copert Libertadores.

AVAÍ FC will receive blockchain technology from its official partners SportyCo and Blackbridge Sports. Each token will cost $ 1 with a sales period that lasts for a month, the report said. Then the token will be indicated on various cryptocurrency exchanges, which simplifies the trade for fans.

If the tokens sold do not exceed $ 8 million, the funds will be returned to the buyers, and if the tokens sold reach more than $ 8 million with a smaller target of $ 20 million, the remaining tokens will not be available for sale, the report said.

The launch event, which took place in the Ressacada stadium in Brazil, was attended by Francisco José Battistotti and members of the board and councils of the club, representatives of the Brazilian association Cryptomoedas and Blockchain, and other guests.

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LG U + comes to the blockchain ​​payment system

LG U + said on Sunday that it is teaming up with telecommunications and technology partners from Japan, Taiwan and the United States to launch a cross-payment system based on blockchain.

Korean telecommunication LG U +, as well as Japanese SoftBank and Taiwanese Far EasTone plan to provide their subscribers with the opportunity to pay for the goods by phone in affiliate stores in three countries on the basis of the blockchain platform developed by the American company TBCASoft.

For example, when a SoftBank subscriber visits Korea and pays for cosmetics at the Face Shop store, which will be a partner of LG U +, the purchase will be withdrawn from the buyer’s phone account next month. When the buyer pays a monthly phone bill, SoftBank will transfer the money spent by the buyer in Korea back to LG U + via the blockchain system.

LG U + said that payment using a cross-payment system based on blockchain will help travelers save commission on credit cards or commissions for currency exchange when making purchases abroad.

Tests cross-payment system will begin in the first half of next year. After the system is commercialized, LG U + hopes to develop discount promotions for travel programs in conjunction with customers’ phone plans.

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Overstock.com plans to sell bitcoin directly in the next year by Bitsy

Bitsy, the portfolio company Medici Ventures, which is a subsidiary of Overstock.com, announced last week the launch of a limited beta version of its digital wallet, which offers an easy way to purchase cryptocurrency directly with fiat.

According to the announcement, the initial beta version will support only bitcoin purchases, but the company plans to add additional digital currencies in the near future. Each purchase provides users with real bitcoin, which means that users have full control over their funds and can send them to any external wallet.

Perhaps the most noticeable component of the Bitsy wallet is the company’s key recovery system, which allows users to easily recover their funds if their wallets are lost or destroyed.

Patrick Byrne, CEO and founder of Overstock (OSTK), said in an announcement that he plans to bring the functionality of the Bitsy wallet to the main retail site of Overstock, allowing visitors to directly buy bitcoin.

The integration of the Bitsy purse into Overstock is likely to further accelerate the adoption of digital currencies, while the company’s revenue associated with bitcoins, which currently amounts to about $ 120,000 per week, is growing at the same time.

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Binance Launches Beta-Testing Currency For Singapore Fiat Exchange

Binance, the world’s largest cryptocurrency exchange company, is reportedly planning to open live cash trading for its forthcoming Singapore fiat-to-crypto exchange, beginning on September 18th.

According to Binance General Manager Changpeng Zhao, the news was first disclosed during a session at the Cumberland Summit in Singapore last week. This discussion was attended by key industry leaders, including co-owner of the recently opened Gemini Bitcoin Stock Exchange Tyler Winklewoss and Michael Arrington of Arrington XP Capital.

As Changpeng Zhao stressed, beta testing will be closed, and only invited users can participate in it. Currently, there is no information about which digital currencies will be available for trade at startup.

The news came just a month after Binance LCX, a joint venture of Binance and LCX, announced the launch of the upcoming fiat-to-crypto exchange in Liechtenstein.

Singapore acts as a promising focus of cryptoactivity, mainly because of the recently updated regulatory framework of the country, which is designed to stimulate innovation in the detachment.

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While The Prices Of Other Cryptocurrencies Declined, Dogecoin Increased By 160%

Recently, cryptocurrency performance looks like some kind of bad joke: the total value of all cryptocurrencies fell below $ 200 billion over the weekend, down 76% from a record high of $ 832 billion in January.

While tokens such as bitcoin continue to fall in price, the open-source digital currency Dogecoin rose more than 160% last month.

The price of Dogecoin rose to the level of $0.003 per day trading volume of the altcoin rose almost six times — from $5 million to $28 million. Of the top 100 digital money only seven are in the “green zone”, the rest lost about 10% in a day.

Having appeared on the market in 2013 as a game on the once puppy meme Doge, the company at one point reached a market value of more than $1 billion in early January and continues to demonstrate a profitable growth.

But how does altcoin, which as of January hasn’t updated its software in more than 2 years, continue to stay in full swing? One of the main theories is that his winnings are the result of being added to the popular Robinhood app as a currency available for trading in mid-July.

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