RAIN CAN NOW OPERATE IN THE MIDDLE EAST

On Wednesday, Rain, a cryptocurrency exchange backed by BitMEX, announced that it gained a crypto coin module license from the Central Bank of Bahrain that allow them to provide crypto coin trading services in the area.

Before the crypto exchange acquired the license, the exchange worked under the central bank’s supervision for 2 years. Notably, Rain is also the first crypto exchange to gain this type of license in the region.

Crypto trading is increasingly more required in the Middle East and the news that Rain gained a license also attracted new investors. On the other hand, the exchange also got funded USD 2.5 million in a crowdfunding held by BitMEX and Blockwater.

The Chief Executive Officer of BitMEX stated that BitMex is focused on promoting crypto trading access everywhere around the world as crypto coins become more and more popular. Rain, being the first licensed crypto exchange in the Middle East, has a great potential to grow and facilitate the advancement of cryptocurrency trading in the region.

He also added that Rain with its professional team and great offering can bring change to trading in the region. The funds gained from the fundraising will be used expanding the platform and putting money into new technologies.

 

 

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ZILIQIA PARTNERSHIP WITH CHAINLINK

On July 31 2019, Ziliqia announced its new partnership with Chainlink.

Ziliqia is a blockchain-based platform that is both scalable and safe. Notably, Ziliqia is among the first crypto platforms that have applied sharding, a database architecture that separates large data into small parts. By using this method the platform manages to perform 2,828 transfers in a second.

Ziliqia also uses the Proof of Work algorithm in preventing cyber attacks and Practical Byzantine Fault Tolerance for consensus. However, the team of the platform stated that the Proof of Work algorithm may be replaced one day.

On the other hand, Chainlink is aspiring to solve issues concerning smart contracts. In their mind, the fact that smart contracts can not integrate with external systems is an issue for the technology. Chainlink aims to create a decentralized network of nodes that connect the smart contracts to the outside world.

The two companies are cooperating to create a network of smart contracts that are driven by data. This partnership will give Ziliqia the opportunity to source data from different places and send them to the Ziliqia network.

The president of Ziliqia stated that the company has a vision to encourage developers. The newfound partnership will offer a great solution to smart contract users.

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POMPLIANO DISCUSSING CRYPTO ADOPTION

Anthony Pompliano, the Co-Founder of Morgan Creek Digital was interviewed by CNBC, along with Meltem Demirors, the CSO of Coinshare. Morgan Creek Digital is a subsidary of Morgan Creek Capital Management that specializes in crypto asset investment.

Pompliano said that jurisdictions are slowly but surely embracing crypto coins and those that do will be leaders of a large global movement. After that, other countries will try to enter the race.

As Bitcoin and cryptocurrency as a whole are gaining users and interest, regulations and negative opinions on the digital currencies by authorities intensified. Regulators are intensively started to go harsh on cryptocurrency. The wave of scrutiny came after Facebook’s announcement of its new crypto project, Libra, last month. The United States authorities even went as far as saying that crypto coins were a national security issue.

Pompliano assured that large counties at some point are going to adopt crypto coins and they will compete with each other strategically in order to benefit from the technology the most. In addition, Pompliano brought up countries like Singapore that accepted the new technology and made a step to regulate cryptocurrency in the country.

On the other hand, Demirors stressed the importance of the United States finally regulating Bitcoin and cryptocurrencies. These regulations will protect investors that utilize exchanges for crypto transactions.

 

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Diversity among crypto holders increasing, 1 in 5 are female

Diversity among crypto holders increasing, 1 in 5 are female

Vienna, 31st of July 2019 – Bitpanda partnered with GlobalWebIndex to produce the most in-depth survey on European cryptocurrency holders with research across 17 European countries. The objective of the report was to draw on a wide set of data points to paint a holistic picture of European cryptocurrency investors. The goal was to provide an insight into the attitudes and behaviours that set them apart from the average investor.

Key findings of the research report include:

• Cryptocurrency holders tend to be young, highly educated, high-income males working in European financial centres in IT, engineering or finance.
• This stereotype is challenged by increasing diversity. 1 in 5 cryptocurrency holders are women, and 40% are over the age of 35.
• European cryptocurrency holders have technical knowledge, higher disposable income, and they tend to lean towards risk-taking.
• They pursue novelty and have a strong sense of economic empowerment.

“We wanted to demystify the people that shape the cryptocurrency industry. I’m hoping this report will help everyone to better understand who these people are, what their attitudes are, as well as their lifestyle, finance & investment behaviours.”, says Eric Demuth, CEO at Bitpanda.

The report confirms that cryptocurrency holders are more likely to be risk-takers, value the latest technological products and try to protect their privacy. But while most cryptocurrency holders are men, one in every five cryptocurrency owners are female, challenging other surveys showing gender distributions that were more than 90% male.

Jason Mander, Chief Research Officer at GlobalWebIndex, comments, “When it comes to attitudes, there’s very little difference between men and women. The slight differences pale when we compare cryptocurrency holders to the general public”.

About Bitpanda

Bitpanda is a fintech based in Vienna, Austria founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer. The company is a firm believer in the innovative power of cryptocurrencies, digitised assets and blockchain technology. Bitpanda’s mission is to tear down the barriers to investing and bring traditional financial products to the 21st century. Today, Bitpanda has more than 1 million users and 120 team members. With a PSD2 payment service provider license, state-of-the-art security and streamlined user experience, Bitpanda has grown into a popular trading platform for newbies and experts alike. Users can currently trade Bitcoin, Ethereum, gold and over 20 other digital assets.

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CHINA REVEALS NEW RANKING OF CRYPTO

On Tuesday, the Ministry of Industry and Information Technology of China relieved a list of crypto projects based on ranks. There were totally thirty seven projects included in the list as two were added after the last update of it.

The ranking was done by the Center for Information and Industry Development and the evaluation was made based on the technology, viability as well as creativity. The top three crypto projects are EOS, Ethereum and, last but not least, TRON. This blockchain-based project entered the list in February 2019, where it was ranked second. However, in the updated list Ethereum took the place of TRON.

Currently, Bitcoin is ranking eleventh and is up by one since the last list. In addition, Bitcoin Cash improved its position and went up three spots ranking twenty sixth.

The two crypto projects that were added to the list were Cosmos and Ziliqa. Cosmos has a unique architecture being a network where different blockchains can co-exist and interact with one another. Right now, it ranks tenth in the list right after STEEM.

On the other hand, Ziliqa utilizes a smart contract language called Scilla in order to make their platform more secure. The project currently ranks twenty four after Stratis.

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CIRCLE CEO RELEASES TESTIMONY FOR CONGRESS

The co-founder and the Chief Executive Officer of Circle, Jeremy Allaire, will give his testimony before the United States Congress soon. Allaire will be a representative of The Blockchain Association, which is a organization aiming to increase transparency, safety and trust through the Blockchain Network.

The CEO of Circle will testify in a hearing session named “Examination of Regulatory Frameworks for Cryptocurrency and The Blockchain Technology” before the United States Senate Committee on Banking, Housing and Urban Affairs.

On July 29 2019, Jeremy Allaire released his testimony, in which he stated that he was willing to talk about numerous issues concerning the crypto market. The topics include privacy, security, identity as well as both national and international regulations. In addition, he is willing to discuss the future of the blockchain network in the financial sector.

He also encourages the United States authorities to make specific laws regarding cryptocurrency. He claims that the Congress should establish cryptocurrency as an asset class creating rules and exemptions for it. To do this, regulations are required that will transform the United States financial sector. As a result of these regulations, the innovative technology of blockchain and cryptocurrency will experience further progress.

Allaire also said that if the US does not take appropriate actions, the country will most likely fall behind in the race for the new technology.

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BITSTAMP ADDS GBP AS A FUNDING OPTION

The centralized crypto exchange BitStamp is adding the British Pound (GBP) as a funding option.

The crypto exchange, in cooperation BCB Group, a financial services enterprise, in order to enable customers to deposit as well as withdraw funds in the British Pound. Based on the company’s statement, this feature will be released by the end of 2019.

BCB Group operates according to Financial Conduct Authority regulations and had the ability to open separate customer accounts for the exchange. Before BitStamp, other large crypto exchanges such as Coinbase, Kraken as well as Coinfloor have also adopted the British Pound.

A representative of the financial group stated that the reason why BitStamp is focused on the Euro and the United States Dollar as their markets have higher liquidity compared to the British Pound. However, as the British Pound is gaining liquidity, institutions start to take more interest in the currency. As a result, crypto exchanges also start adopting the currency.

The Chief Executive Officer of the financial enterprise stated that they deeply value their new collaboration with BitStamp. This helps citizens of the United Kingdom to make transactions with Bitstamp onshore.

However, this still doesn’t mean that the exchange is adding trading pairs with British Pound. This is a way for the company to expand internationally.

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