Can Blockchain Technology Help Clean The Oceans And Improve Waste Management Practices?

The fields for the application of blockchain technology drastically increased over the past decade. The primary usage of the technology was as a payment medium, providing a quick, secure, and transparent way of collecting and transferring funds across the globe. The adoption of the new technology goes beyond payments as blockchain is deployed as a data collection medium, credentials verification tool, file transfer protocol, etc.

Blockchain is used in the ecology and sustainability sector too. Looking at the maritime industry, all ship-related data, such as routing information, fuel levels, and spillages, are collected by hand and are then being transcribed to a non-uniform language. The complexity of the process creates barriers for the provision of quality waste management services, lowering the efficiency of the provided services.

A Slovenia-based company, called Carbon Offset Initiative (COI), aims to harness the power of blockchain in a bid to reduce waste. They developed hardware and software solutions, enabling monitoring, analysis, and management of the waste left by large cargo ships.

The blockchain of COI is based on the Ethereum protocol and uses smart contracts to verify data transmissions and payment transactions. By using satellite data, each monitored parameter can be immutably stored on the public blockchain, making it almost impossible to counterfeit. All users on the chain – from ship operators to recycling centers, could benefit from the blockchain by cutting fuel costs, oil incineration, slops management (slops resemble hydrocarbon-rich compounds, which are generated by ships), and settlement between parties.

The hardware consists of various sensors, including vibration sensors, cameras, and lasers. The sensors will be installed on vessels and will track in real-time the quality and quantity of oil in the bunkers and slops tanks. Humidity, temperature, fuel consumption, and routes will also be recorded and sent directly via satellite connection to cloud data centers.

In 2017 the companies behind the project, Clean Sea Services and Urban Management, discussed a potential partnership, and in 2018 the Carbon Offset Initiative was established. Founded by the EU Business School (EUBS) professor Jean-Christophe Vautrin and EUBS alumnus Vuk Bjelajac, the company sets the bar high and takes the ambitious initiative of drastically reducing carbon footprint in the maritime industry. The COI’s team members have substantial industry knowledge and expertise, with some of them being EUBS lecturers and students.

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LG CNS, Kakao’s blockchain arm to link public, private blockchains

LG CNS has partnered with GroundX, the blockchain arm of South Korea’s major social network Kakao. Together the firms plan to explore blockchain applications in various business areas, reported the Korea Herald yesterday.

The two companies will be developing a mutually compatible blockchain infrastructure. “Currently, there is an active ‘inter-chain’ projects within the industry to connect unique blockchain ecosystems,” said an LG CNS representative.

The representative further said: “We will break down the existing boundaries between private and public blockchains through this partnership and combine our strengths for new business opportunities.”

LG CNS has its Monachain blockchain, which it plans to use for digital identity, digital currency and supply chain management. A few months ago, LG CNS said it was launching a food traceability platform on Monachain. The proprietary blockchain was also used to build a local currency platform ‘Chak’ for the Korea Minting and Security Printing Corporation.

On the other hand, Ground X launched its public blockchain platform Klatyn earlier this year. Klatyn has a developer-friendly interface and provides users with useful tools to develop blockchain app (dApps).

“Our Klaytn’s anchoring technology will solidify LG CNS’ Monachain’s data purity and reliability. Collaborating with Korea’s representative IT service company, LG CNS, will lead to a growth of blockchain ecosystem in the country,” a Ground X representative told Kora Herald.

Large public blockchains are far harder to tamper with compared to private blockchains. That’s because it requires very significant collusion to change the content on dozens or hundreds of nodes on a public blockchain compared to a handful of nodes on a private network.

Anchoring is a method to bring some of the public blockchain security to private networks. It works by taking a digital fingerprint of transactions or the current state of the private distributed ledger and storing it on the public blockchain. But the private data is not stored publicly.

As an example, Spanish bank BBVA issued numerous loans and bonds on a private blockchain and registered a hash on the public Ethereum test network.

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Bitcoin Privacy Wallet Wasabi Raises $337k In First Funding Round, Valued at $7.5 Million

The privacy-focused BTC wallet Wasabi has recently raised its first equity investment ever. The CEO of Cypherpunk Holdings, Dominic Frisby, has recently affirmed that his company invested $337,500 USD in the Bitcoin wallet, which would put its valuation at around $7.5 million USD.

According to Frisby, the technology presented by the firm is extraordinary and even so early during its development, it had a pretty strong revenue model. Frisby wants to make at least three more investments in the privacy field. At the moment, his business is looking for VPNs, encrypted messaging systems and similar projects.

The co-founder of the lab behind the Wasabi wallet, zkSNACKs, Adam Fiscor, has affirmed that the developers managed to find a successful business model by charging fees from the mixer transactions made by the wallet. The company is able to get over $110,000 USD monthly from this. With the revenue going up so quickly, it could scale up pretty quickly.

As noted by Balint Harmat, the CEO of zkSNACKs, receiving the help of these new investors is very important for the development of the product. With the help of these strategic partners, Wasabi wallet will continue to scale its project and to take anonymous transactions to the Bitcoin network.

Moe Adham, the CIO of Cypherpunk Holdings, believes that Wasabi is similar to Samourai Wallet, another BTC wallet that received investments from the company recently. Both got impressive results so far and well-positioned in the market to be used by their client base.

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The Master Token: Ron Paul Crypto Briefing and Crypto Capital by Eric Wade

New Crypto Capital research newsletter surfaces on Ron Paul Crypto Briefing show where crypto miner and investor Eric Wade shared his secret The Master Token report on a $.01 coin set to have a stellar 2020 year.

The Master Token: Ron Paul Crypto Briefing Presents Eric Wade’s Crypto Capital by Stansberry Research

Recent news broke about The Master Token report from Crypto Capital by Eric Wade who appeared on the Ron Paul Crypto Briefing to present his monthly cryptocurrency newsletter.

Here is what the Crypto Briefing presentation covers from a 10,000 foot view:

  • The Next Bitcoin will not be a currency
  • Massive Threat to Uber, eBay and AirBNB
  • Ron Paul acquired his first bitcoin last month
  • The new technology is bigger than bitcoin
  • Free recommendation with 1,000% upside potential
  • Why “Tokens” will fuel the 2020 crypto boom
  • Cryptos will change the way you do business
  • This is the future of blockchain
  • Soon, every company could have a ‘token’
  • The End of the Middleman
  • The Master Token will fuel the blockchain
  • Ron Paul’s surprising announcement
  • Tokens could soon redefine banking
  • Where a $100 investment could make you $500,000
  • The #1 token to buy right now

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What is the Ron Paul Crypto Briefing and Crypto Capital?

The-Master-Token-Ron-Paul-Crypto-Capital-Briefing-by-Stansberry-Research

Every smart investor consistently seeks out ways to improve their returns, but the stock market hasn’t been performing how some consumers would prefer. Cryptocurrency offers an opportunity for investors, but Bitcoin’s cost now makes many consumers weary of getting involved. The recent Ron Paul Crypto Briefing interview may provide a next opportunity at barely a fraction of the price as the 12-Term US Congressman thinks the USA’s greatest export is paper and money and that the ‘system is going to fail’.

In the start of this Crypto Briefing video for this Crypto Capital newsletter program, Jared Kelly of Stansberry Research introduces Dr. Ron Paul, who he describes as a “sound money expert, longtime gold advocate, critic of the Federal Reserve, and cryptocurrency enthusiast.” The American public also knows him for his 12 terms as a US Congressman. Kelly also introduces Eric Wade, who he says is now a “hero of the underground crypto mining community,” as well as a crypto analyst.

Wade and Paul have seemingly come across a cryptocurrency asset that is worth less than $0.01, which Wade has called “the next bitcoin,” and he believes that everyone will be clamoring for a piece of the action next year. Wade clarifies that the asset is “NOT a currency in any normal sense of that word.” However, he adds that it will change the way that businesses handle themselves.

Wade doesn’t believe that Bitcoin is over at all, adding that he’s been an “enthusiast” for quite a while, even gifting his daughter and new son in law with a mining rig to commemorate her nuptials. He adds that the “next bitcoin” is already being used in over 100 countries, is trustless, and has already been presented to financial institutions, corporations, and governments, explaining that the asset isn’t just the work of a couple small engineers or programmers.

Eric Wade’s Exclusive Experience

This is hardly the first time that Wade has discovered an asset at the ground floor, as Kelly sheds light on the Verge cryptocurrency, adding that Wade experienced a “3,000% gain.”

eric wade crypto investment in Verge

Litecoin, which is one of the top cryptocurrencies in the world by market cap, also brought Wade some fortune. In fact, the included graph online shows that Wade managed to get in early enough to gain 1,314% in a seven-month period.

eric wade crypto investment in Litecoin

Wade also gained 158% on a relatively unknown cryptocurrency called Komodo. Essentially, Wade has been a part of almost every major conference on cryptocurrency, and he even recently spoke at the World Crypto Conference.

“The Master Token”

ron-paul-crypto-briefing-master-tokenWade refers to the new cryptocurrency asset as “The Master Token,” as Kelly asks to be walked through the information that consumers need to know. There’s a big difference between a coin and a token, according to Wade. Coins are meant to be used as currency, as they are meant to be used with the same purpose as cash – for payment. Tokens are meant for functions, which is the point of this new asset.

The goal of this token is not to be used as payment, but as “a way of connecting your small business to crypto technology.” The technology that Wade is referring to is blockchain technology, which is the basis of most cryptocurrencies. Blockchain technology connects all of these transactions over a network, which is entirely trustless and transparent.

Wade explains:

“You can buy hundreds and thousands of different tokens, which allow you to access the blockchain and use it in a variety of different ways to your advantage.”

Why Cryptocurrency?

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Cryptocurrency is still a relatively nascent industry, showing up when the financial economy was struggling. Paul points out that the upcoming elections will not likely have any impact on the industry at all, since cryptocurrency can’t be controlled by any specific government. That makes the industry an ideal place for consumers to protect their investments and their wealth.

Paul explains,

“[T]he main reason why that is the case is the price of money cannot be regulated by an outfit like the Federal Reserve. It’s artificial. If we regulated every price in crypto and they were always set, it would ruin the market. There’d be no market. And that’s what fixing the interest rates does. It ruins the market and it also causes deficits, malinvestments, and a lot of disappointed people. Because the government fails in what they’re supposed to be doing.”

Wade added,

“[M]ost people don’t realize that the idea of a digital currency isn’t new. There have been attempts dating back to 1982, when a guy from U.C. Berkeley tried to introduce a digital currency. And there was an attempt at creating electronic gold. In both cases, what destroyed the project was the government. The genius of bitcoin is that it was created by an anonymous programmer or group of programmers named Satoshi Nakamoto, with no central office for the government to raid and shut down. And no central system, either.”

Wade’s Warning About Crypto

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Despite the faith in the trustless crypto network, Wade warns that “there are a lot of bad cryptos out there,” since there are many developers that don’t actually deliver on the value that they promise. He says that BitcoinX and Monero Classic are examples of these types of tokens but adds that the HempCoin (THC) is the current asset to worry about.

The cannabis industry is growing at a rapid pace, and Wade even states, “I’m sure some cannabis coins and tokens will do fantastic things.” However, this is not one of those coins. Wade boldly warns, “Stay away from HempCoin right now.”

In addition to Verge and Litecoin, Eric Wade did mention Enigma (ENG), RavenCoin (RVN),  ChainLink (LINK), DecentBET (DBET) – but in his eyes and team’s best estimate they think this one Master token (which is not a cryptocurrency and is more of a tokenized asset) has the merits to have a super 2020 calendar year during the next bitcoin halving and bull market cycle.

That is why The Master Token special report on ‘How to Make 5 to 10 Times Your Money on the Coming Crypto Boom’ and the monthly advisory ‘Crypto Capital’ is focused on finding the best cryptoassets to inveset with in the budding blockchain tokenization era.

The Crypto Capital Subscription

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Considering the path that the US dollar has taken over time, losing its value, Wade believes that Bitcoin will follow the same path. However, the host of this interview asked, “If blockchain achieves mass acceptance, and its reserve currency is bitcoin, what would happen to its price?” Paul stated that Bitcoin’s value would rise significantly.

The goal of this whole advertisement is to get consumers involved in Crypto Capital, a subscription that gives investors information about the best way to presently invest money. Many consumers report major gains, making this subscription fairly valuable. However, it is presently priced at $2,500 as a one-time offer to consumers, giving access to users for one year at half of the typical subscription price.

By signing up for the monthly newsletter, consumers will receive:

  • A full year of access to Crypto Capital with predictions, recommendations, warnings, and analysis of the cryptocurrency industry, which could make consumers up to 50 times the money they invest.
  • Immediate access to recommendations for 24 individual cryptocurrency tips.
  • Video updates weekly, as Wade discusses breaking news on the industry.
  • A research report called: “The Master Token: How to Make 5 to 10 Times Your Money on the Coming Crypto Boom,” which shows consumers how to buy and sell cryptocurrency, among other details.
  • Access to over a dozen videos that show how to buy, sell, and store cryptocurrency.

To purchase this Crypto Capital investment system, visit here now.

As mentioned, Jared Kelly, who is the Managing Director of Stansberry Research is the one who kicks off the Crypto Briefing event with Ron Paul and long time Los Angeles crypto miner Eric Wade.

Even though there is information about the subscription and about some of Wade’s predictions online, consumers may find themselves with other questions. The customer service team can be reached by calling 800-261-2693. As for the 12-Term US Congressman Ron Paul, he expresses inquisitive and bullish sentiments throughout the entire Crypto Briefing video with Eric Wade and the Crypto Capital Master Token program.

If the user is unhappy with the results of subscribing to Crypto Capital, the purchase is covered by a 30-day refund policy. However, the refund is seemingly limited, as Stansberry Research states that the user “can apply [the refund] to any other Stansberry Research product.”

Click here to watch the Crypto Briefing event with Ron Paul and hear from expert Eric Wade and his Crypto Capital newsletter about ‘The Master Token’ you need to know about in 2020.

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Orchid to Debut A Privacy VPN Network Based on Token Technology in December

Orchid decentralized VPN provider will roll out its OXT token and virtual private network app within the next few weeks before the end of the year.

Orchid, a Virtual Private Network provider, has announced its plan to roll out a token-powered (OXT) network and an application during the first week of December. The company majors in offering decentralized VPN and is also a platform where node providers can trade in tokens for advertisements using the Ethereum blockchain tech.

“We will be launching one of a kind App that will operate based on the use of native tokens,” said Steven Waterhouse, the CEO at Orchid. Users will use the OXT token to pay for Bandwidth offered by node providers. These tokens will be generated at the launch, and the system operates based on a staking model.

According to Waterhouse, the company will have between five to ten node providers during the launch. The node providers will include both the new crypto technology and the traditional VPN space. Waterhouse adds that the initial offer was meant to boost the early stages of the system.

Virtual Private Networks have in use by millions of people globally for internet browsing. However, the VPN space is faced with the challenges of a centralized authority.

The company has managed to raise about $48 million through a number of investments since 2017. The major investors with Orchid include Sequoia, Andreessen Horowitz, Polychain Capital, and Blockchain Capital. Brad Stephens, Blockchain Capital’s managing partner said,

“To secure communication and privacy from state surveillance, VPN spaces should be decentralized. Orchid has illustrated the importance of VPN decentralization. We have worked with the company as an investor and advisor since 2017.”

The only problem facing the company has been to secure token-powered platforms by wholesale adoption. One of the investors, without any stake in Orchid, though, told CoinDesk that priority-payment tokens such as OXT and utility tokens are not a strong incentive to attract investors and without the investors, it is hard to have a significant value.

Waterhouse, however, defends the company’s token project saying that it has been developed with the investors’ best interests in mind. “We have been focusing on building the platform in the Web3 world,” says Waterhouse. The major objective is to develop a user experience based on privacy and one that is easy to understand and appealing to its users.

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CoinDeal Exchange Opens In 13 US States After Launching Their Ethereum Based CDL Token

CoinDeal, a Maltese cryptocurrency exchange, rolled out in thirteen states in the US market. The company, now been registered with FinCEN, will be allowed to serve traders in 13 states, including Texas, Illinois, New Jersey, Wyoming, Indiana, among others.

Users from these regions can trade using the 13 active tradings pairs currently enabled, but they are planning to add more markets, including CDL/USD and CDL/EUR. The exchange is also planning to open in twelve more states in the U.S in the future.

CoinDeal Exchange has not only been credited with confirmations and licenses in the U.S market; the company was registered under VQF to operate in Switzerland under the name CoinDeal Swiss. Its VQF license confirms CoinDeal’s financial credibility.

The exchanged launched its token CoinDeal Token abbreviated as CDL a couple of months ago. The current market price of the token is around $30,79 for 514 tokens. CDL was the native token to be issued free of charge globally. The company distributed 90% of the token to 87,549 investors, with each receiving 514 tokens. The price of the token was set by the market itself since CoinDeal did not buy any tokens for themselves.

The company also launched an Over-the-Counter (OTC) trading desk, where investors willing to trade in larger amounts can comfortably do so without adversely affecting the price of the token. Investors can trade CDL via OTC  from as little as $10 USD, an equivalent of 0.001BTC, to 5BTC with as low as 0.7% commission spread between the sale price and the purchase price and unlimited liquidity. This offers an ideal opportunity for investors.

CoinDeal exchange prides itself on being a user-friendly and safe platform. Besides the company offering its users tokens of its own (CDL), CoinDeal has among the lowest fees in the crypto market. It has a cost-effective and attractive affiliate program that offers high-quality services to help promote the use of the exchange. Users have been given the liberty to influence on the development of the exchange through voting.

CDL is based on the Ethereum blockchain, which facilitates fast transactions for its users. The blockchain has a protocol called Greedy Heaviest Observed Subtree that supports the fast creation of blocks without breaching blockchain security. With CDL, users will enjoy additional features such as low trading fees, access to social trading platforms, customer support, voting rights, and advanced trading features.

CoinDeal also rolled out its mobile application that is compatible with Android and iOS systems. This will allow users to monitor the market 24 hours a day in real-time and preview transactions. The PRO version of the exchange adds advanced features such as the Galaxy Score, which helps investors analyze the market before making trades, offers social media comments and market history.

You can reach CoinDeal on their social media channels:

  • https://twitter.com/CoinDeal_
  • https://www.linkedin.com/company/coindeal/
  • https://t.me/coindeal_com
  • https://medium.com/coindeal
  • https://www.reddit.com/r/CoinDeal/
  • https://www.instagram.com/coindeal_com/
  • https://www.youtube.com/coindeal
  • https://bitcointalk.org/index.php?action=profile;u=2608398

Disclaimer: This is a paid press release from CoinDeal. We do not endorse nor are we responsible for the content included in this paid release. We encourage all of our readers to do their own research before interacting with the company.

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Maker’s Multi-Collateral DAI Stablecoin Launched On The 18th With Support From Coinbase

The DAI stablecoin offers a steady and consistent value to a cryptocurrency asset, allowing consumers to easily use the asset for transactions or even cashing out. Though the DAI stablecoin was previously only able to work with Ethereum, an upgrade will expand the creation of the asset to include other ETH20 tokens as well.

  • The multi-collateral DAI stablecoin is an upgrade to the current DAI stablecoin.
  • Consumers will need to send their tokens to Coinbase or Coinbase Pro by December 2nd at 9:00am PST to automatically participate in the upgrade.

The DAI stablecoin has already been introduced by Maker, but there are new changes coming to the stablecoin. According to a new blog from Coinbase, the multi-collateral version of the DAI has been launched on November 18th, bringing new changes.

With the single collateral DAI that is presently available, the only cryptocurrency asset that can be used is Ethereum its creation. However, the changes with the multi-collateral DAI make it possible to create the asset with Ethereum and other ERC20 tokens, though Maker token holders will vote on whether the collateral types are eligible.

By December 2nd at 9:00 am PST, both Coinbase and Coinbase Pro will be supporting the new multi-collateral asset. When their support begins, the platform will automatically upgrade the DAI in the accounts of consumers on the exchange to the multi-collateral DAI. Members of the platform do not need to take any action on their own to make this upgrade happen; however, they will need to leave their current DAI holdings on Coinbase for the automatic change.

Consumers that hold their DAI in accounts that aren’t on Coinbase will need to send the tokens over before the conversion on the 2nd. However, if the user doesn’t want their DAI upgraded, the tokens need to be sold off or withdrawn from Coinbase by the conversion time. Users of the Coinbase Wallet app can upgrade on their own, as it supports both DAI versions and features an upgrade tool that can be used at any time after the switch.

In the event that users still have single collateral DAI in other accounts that are independent of Coinbase or Coinbase Pro, and they want to participate in the upgrade, they can transfer their holdings to Coinbase at any time. Though their DAI will not be automatically upgraded when they send it to their Coinbase account, the platform plans to run another upgrade in the new few months. Consumers will be notified at least two weeks before the next conversion takes place.

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Asset Manager PORTAL, Rolls Out A Crypto Fund Targeting Investors of High Net Worth

The Cryptocurrency sector has recently become the go-to industry for investors. Companies and individuals are heavily investing in the crypto market. On Thursday, November 2019, PORTAL Asset Management, based in Singapore, ventured into the digital assets sector by launching a crypto fund. The fund, which goes by the name Portal Digital Fund will be operating as the fund of other funds. This new project targets erudite investors in the Asia-Pacific area, among them, being institutional investors, family offices, and individuals of high net worth.

The company, though still young in the industry, is targeting managed assets worth over $100 million. The firm began its fundraising, which will run till March 31, 2020. Deryck Graham, the founder of the fund said,

“At this time and age, two things are inevitable across all industries; the application of the blockchain tech and the adoption of enterprise and sovereign cryptocurrencies are rapidly influencing the financial economy globally.”

According to a recent report, the company is in the process of creating a diverse portfolio with 4-8 professional global fund managers. The portfolio will major in two significant investment streams. The first will be investing in the blockchain infrastructure through private equity funds and venture capital. The second investment stream will be quantitative trading that takes into account momentum, arbitrage, and systematic strategies. The firm is planning to first focus on the latter approach since it envisages high returns compared to the former.

For the past two years, the company has been trying to aggregate over seven hundred digital asset fund managers. It further reviewed about a hundred fund managers using the Bottom-up analysis approach and the Top-down investment analysis process.

With the digitization and fractionalization of global assets and the integration of the blockchain technology, digital assets are bound to rank as the fourth superclass falling under the three major traditional classes of measures of wealth, goods, and capital.

Sygnum, a Singaporean Crypto-based banking company, was recently granted a Capital Markets Services License that allows the company to trade digital asset products in Singapore.

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SBI Ripple Asia Launches First Money Transfer Service Between Japan and Vietnam

  • Vietnam is a “booming” economy and of the most attractive ones around the world
  • SBI CEO: “We will also develop remittance services that incorporate crypto-assets in the future.”

SBI Ripple Asia and SBI Remit, an international money transfer service, announced the launch of the first Japan-Vietnam money transfer service in real currency using the Distributed Ledger Technology (DLT) with the Vietnamese bank, TPBank on Nov. 15.

SBI Ripple Asia is SBI Group in collaboration with Ripple Labs offering technology support to financial institutions interested in RippleNet.

TPBanks is their latest addition that will leverage Ripple technology to improve their business and customer experience.

SBI Group is also an investor in the bank and has a shareholding of 19.9%. Earlier this month, we reported that Tien Phong Commercial Joint Stock Bank (TPBank) has joined RippleNet. On this collaboration, Nguyen Hung, CEO of Tien Phong Bank said,

“Our cooperation with SBI Ripple Asia Co., Ltd on the application of blockchain technology in cross border money transfers marks an important turning point in enhancing our customer experience and makes international money transfers via TPBank faster, more convenient and safer than ever before.”

Booming Vietnamese Economy an Attractive Market

Vietnam-Japan is a “booming” remittance corridor with the popularity of Vietnamese residents in Japan growing 4.57 times over the past five years. These numbers are further expected to increase.

“The booming Vietnamese economy is one of the most attractive markets around the world,” said Yoshitaka Kitao, CEO, President and Representative Director of the SBI Group and a member of Ripple’s Board of Directors. He added,

“The adoption of RippleNet will further differentiate the company from its competitors. We will also develop remittance services that incorporate crypto-assets in the future.”

SBI Remit, that is in partnership with MoneyGram and major Asian financial institutions will provide the TPBank safe and convenient services for the Vietnamese customers in Japan through RippleNet.

RippleNet is Ripple’s settlement platform with a network of over 300 financial institutions worldwide to enable faster, lower-cost payments around the world. It will ensure that transactions are executed faster while managing safety and transparency.

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MicroBT To Launch M30S Bitcoin Mining Rig, More Energy Efficient Than Bitmain’s Antminer S17 PRO

MicroBT, a crypto-mining chip maker based out in Shenzhen province of China is all set to launch its latest version of Bitcoin mining rigs. The new miner would be called Whatsminer M30S. The new machine is speculated to be highly efficient with an outstanding output of 81 tera hashes per second and consumes only 38 watts per tera hash output.

Wu Gang, CEO of crypto wallet Bixin and also a shareholder in MicroBT announced it on the popular Chinese chat app WeChat claimed that the latest Bitcoin mining rig would be superior to the market leader Bitmain’s flagship model Antminer S17 Pro in terms of power consumption.

Bitcoin mining machines have come a long way from the early days when a CPU processing unit was more than capable of mining, however, as Bitcoin became valuable with years and the mining became popular the mining difficulty increased. Thus people started using GPU card-based mining rigs which were later replaced by the ASIC chip. These mining rigs are known for consuming heavy electricity and thus power consumption becomes an important aspect of these machines.

The M30S make use of Samsung’s 8nm chips which has been a cause of concern given Samsung is only allowed to import a limited amount of these chips due to ongoing Japan- South Korea trade war.

The founder of MicroBT Yang Zuoxing was a former processor designer at Bitmain before starting his own company in 2016. Zuoxing was also behind the designing of Antminer S7 and S9. Since its inception, MicroBT has been giving a great competition to Bitmain with its efficient hardware design and manufacturing.

Some of its most well-known mining rigs include its 2017 M3 model which gave a tough competition to Antminer S9, the flagship model with the highest popularity at that time. MicroBT’s M10 and M20 models in the following years proved to be more power-efficient than Bitmain’s flagship models.

Yang’s former ties with Bitmain have often been the cause of friction between the two firms in the past, where Yang was once sued by his former employer for infringement of one of its patents which was later revoked in 2018.

MicroBT’s Success could be based on Intellectual Property Theft

MicroBT’s success speaks for itself and many believe its founder Yang’s hard work and dedication have a major role, but many others have claimed that the success is based on blatantly copying Bitmain’s business model and some of their trade secrets as well.

There have even been rumors that Yang took away all the S9 codes with him while leaving Bitmain, and the lapse happened mainly because Bitmain hardly paid any attention towards security measures against such kind of intellectual theft. It was claimed that Yang not only took away the first but also leaked it to other mining manufacturers, which caused heavy market losses to Bitmain. Whatever may be the case MicroBT is proving to provide much efficient mining, machines over the years.

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Venezuela’s President Maduro Acknowledges Trezor’s Hardware Wallet on Live TV

Nicolas Maduro, President of Venezuela, praised popular crypto hardware wallet Trezor on the country’s state-run TV network VTV as the company is investigating the matter.

Nicolas Maduro, the President of Venezuela, vouched for Trezor’s alleged cold wallet in a recent TV interview with the Venezuelan Television Corporation. According to a Facebook Video posted on Maduro’s page, the leader expressed his openness towards crypto coins given the news was dubbed ‘Private Companies of Cryptocurrency are operative in Venezuela’.

However, Trezor has come out to publicly deny having sent any of its officials or reps to meet Maduro during the TV interview.

They further stated that investigations on the fake Trezor wallet ‘resellers’ have been opened and made it clear via a tweet they don’t have point salesmen in Venezuela;

Speculations within the crypto online community point towards an unlicensed Trezor reseller. This company has an online presence on IG and Facebook in which they refer to Trezor’s official website to phish unsuspecting clients.

Trezor’s official statement on the matter notes that Trezor Venezuela was initially a licensed reseller of their products until June 2019. The digital wallet provider added that it has no political affiliations in Venezuela and was not in attendance of the crypto fair held with Maduro’s presence.

Maduro Touts Petro Crypto as an Option for Venezuela

The oil-backed Venezuelan digital currency has been an alternative since inflation skyrocketed in the country. Back in July 2019, Maduro gave an order to the Banco de Venezuela that they should accept the Petro coin as a form of money. He recently followed up on the issue during a conference held with the bank’s leadership in November. The main agenda was how Petro’s adoption can be accelerated. Most notably, was the guidance from President Maduro on how the state-backed digital currency could be used in point of sales within Venezuela’s Economy.

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Glenn Hutchins: Blockchain Payments Have The Capacity to Revolutionize Finance

Mr. Hutchins, forward-thinking technology investment pioneer, spoke highly of blockchain’s value transfer ability at Reuters Global Investment Outlook 2020 Summit in New York.

According to renowned technology investment guru, Glenn Hutchins, payment systems and platforms that have been developed on the blockchain can revolutionize the finance sector just as the internet changed the information and communication spheres.

Speaking during the Reuters Global Investment Outlook 2020 Summit, Hutchins elaborated that one of the key aspects that attracted him into investing in ICT was the concept of transferring information in the globe at high speed at zero costs. He stated that the blockchain-based payment systems are also aiming at the same, transferring something of value around the globe at high speed at zero costs.

Hutchins made a name as a savvy investor through investment in tech-based company especially during the dot-com boom era in the 1990s and early 2000s. He helped set up Silver Lake Partners which acquired stakes various tech-based companies like Seagate Technology as well as virtual brokerage Ameritrade and stock exchange firm Nasdaq.

Hutchins explained that blockchain-based firms which offer easy and fast payment solutions could be good bets for investment. He explained that the financial industry is moving from lines for tellers and ATM towards more of sending an email transaction.

Although Hutchins left Silver Lake last year, he is still making private investments and recently his family company North Island invested in Digital Assets Data which deals with crypto assets.

Hutchins explained that opportunities in blockchain will not be realized through token speculations but development of digital infrastructure that will aid fresh payment solutions. He added that having the right infrastructure will help in coming up with firms which have the capacity to alter various imperative aspects in the financial sphere.

Hutchins also said that blockchain technology in the financial sector will spread to other parts of the world apart from the US highlighting China as one of the budding technology hubs in the world. Hutchins previously believed in Alibaba and is still a key investor in the company today.

Are blockchain-based payment platforms the next phase of investment? Let us know in our social media outlets.

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Saldo App Creator: Working with Regulators Could Support Stellar’s Efforts to Serve “Real People”

Saldo App’s creator, Marco Montes Neri, shares support on Stellar (XLM) and its protocols that can manage regulatory obligations when it comes to winning the global payments race.

  • Recently, multiple major players in the crypto sector collaborated at the Stellar Meridian conference.
  • By cooperating with regulators, Jed McCaleb stated that the Stellar network can be “useful for actual people.”

Saldo, an app that uses stablecoins that are pegged to the peso, has been approved by the Mexican government for use, ensuring that 20,000 migrant workers are able to use the Stellar network to pay their bills from the US. App developer Marco Montes Neri explained that the use of Stellar is compatible with regulatory policies, allowing these options to be combined.

Neri explained,

“Stellar has created a set of protocols and a set of standards to handle all these regulatory options. If you want to touch real people’s money, you really need to play ball with regulators.”

The theme of collaborating with regulators arose during the Stellar Meridian conference. The conference was hosted in Mexico City, and involved about 350 people, many of which are building on Stellar. One of the big themes appeared to be embracing the financial rules, while Facebook’s fast-moving approach wasn’t as appealing.

Jed McCaleb, the developer of the Stellar cryptocurrency, said that,

“making sure Stellar is useful for actual people” was always the goal in mind. That will ultimately always come back to some sort of regulatory situation … we don’t avoid it.”

Presently, McCaleb is the chief technical officer of the Stellar Development Foundation, which is a powerful place to be while the blockchain-based global payment sector is thriving. Though the Stellar token was developed in 2014, McCaleb co-founded Ripple two years prior. Presently, Ripple focuses on cross-border banking transfers, but the introduction of the Libra whitepaper presented some issues for regulators that are still being sorted out.

The advantage that Stellar has in this situation is that it’s already been established in the industry, featuring a built-in compliance layer. With this layer established above the protocol, users can connect with know your customer and anti-money laundering standards. The structure of Stellar makes the platform helpful for Neri’s business, serving it in a way that Ethereum can’t.

Neri explained,

“In other ledgers, that layer doesn’t exist yet because it hasn’t been the focus. You can build it, but the problem is that it’s not compatible with another project that wants to do the same thing.”

Denelle Dixon, the CEO of the Stellar Development Foundation, says that she is hoping to help consumers understand regulations, but also wants to show the way that blockchain can improve the world. Dixon added, “We need to actually focus on getting more regulators involved.”

CEO Cole Diamond of CoinSquare stated at the event, “The majority of us went and trailblazed with our regulators.” CoinSquare is a cryptocurrency exchange based in Canada, which Diamond says left a lot of money behind when they leaned into the local laws. Though other Canadian exchanges have since crumbled, Diamond has no regrets. He stated, “I can’t suggest strongly enough the importance of doing that.”

Wirex’s Pavel Matveev stated that not being regulated is “actually quite risky.” The company is presently a startup for crypto-to-fiat value transfers around the world.

Amit Sharma, the CEO of FinClusive Capital, pushed for founders to collaborate with policymakers, despite the fact that no one disputed the slow pace of the government. Sharma remarked, “Because inherently innovation outpaces regulators.”

Ernest Mbenkum, who is both the CEO and founder of Interstellar Wallet and Exchange, is hopeful, stating,

“Governments, they can’t resist it forever. At the same time, they are going to want to be able to control it. It’s an interesting dance.”

Francisco Rivadeneyra, a research advisor at the Bank of Canada, expressed that adding fiat currencies to the blockchain could help the traditional market dip their toes in the water with minimal risk.

He added,

“If central banks decide to issue a CBDC, it’s going to be in token form, and it’s going to be delegated.”

With a delegated CBDC, the partners will be responsible for managing consensus and tracking payments.

Professor Linda Schilling of Ecole Polytechnique in Paris, commented,

“The rise of cryptocurrencies has in some ways pushed central banks to think about how to compete.”

Schilling states that citizens would have the opportunity to opt-out of the policies of a central bank if the world ultimately chooses to adopt any single cryptocurrency. Anyone that would use cryptocurrency for the majority of their financial world would not have the risk of inflation of economic growth of the bank.

On the other hand, if central banks end up taking over the peer-to-peer payments, rather than allowing cryptocurrency companies to rule that sector, data could be collected to political institutions.

She remarked,

“As you move toward central bank currency, you move much more toward a business model like Facebook and Google and so on.”

The data would make political appointees privy to a substantial amount of information on their rivals, the voters, and others.

The proposal on Libra has been one of the biggest proposals to elicit a response from central bankers. Libra has a similar idea as Stellar, but Matveev stated, “It’s fair to say that all the noise associated with Libra had a kind of negative effect.”

McCaleb expressed a different concern, stating that Facebook’s creator, Mark Zuckerberg, has no idea what he is getting into with Libra.

He added,

“Their approach seems a little bit arrogant, at least from an outside perspective. The way they announced it seemed a little bit premature.”

Furthermore, McCaleb doesn’t believe that Libra has the decentralization it needs and that it is likely that the asset will never have it. Still, he admits his bias. Mbenkum added that Stellar has an advantage since it reaches the unbanked individuals with a system of anchors, instead of solely relying on the XLM asset. This is a term used for companies that are making tokens on the network that are already backed by assets.

Ultimately, the sentiment of the event can be summaries by a comment of McCaleb,

“It seems like we are on the cusp of these things actually making people’s lives better.”

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Tether (USDT) Responds to a Research Paper Accusing Them of 2017 Crypto Market Manipulation

USDT Dollar-backed stablecoin cryptocurrency Tether issues stark response regarding the bitcoin price and crypto market surge to nearly $20,000 back in December 2017.

Tether has responded to a research paper done by two U.S citizens in which the conclusions accuse the firm and Bitfinex of market manipulation. This research done by Amin Shams and John Griffin both of whom work in academia highlights that the 2017 crypto market bull run may have been caused by the only player.

The USDT parent firm has since posted on its website refuting the paper and was seconded by its affiliate, Bitfinex, which also shared similar sentiments. According to the research paper, Bitfinex was majorly involved in the $20,000 BTC all-time high mark as they influenced the market’s decisions. Alternatively, another entity doing business with the firm may have caused the abnormal price surge.

Tether, however, claims that the findings are way below the standards of the initial research paper on the bull-run. This is because the academics admitted that the dataset used was not adequate enough hence assumptions may have dominated a big part of the conclusion. In addition, the firm assured its clients and stakeholders that they have been compliant and never indulged in market manipulation using Tether tokens. The ecosystem in which USDT operates follows the law of demand and supply and the coins are backed with the U.S dollar.

The response concluded by noting that USDT does not owe its popularity to market manipulation but the growth of Tether;

“It is a result of Tether’s efficiency, acceptance and WIDE SCALE utility within the cryptocurrency ecosystem.”

Here is the entire response from Tether team about its alleged market manipulation:

tether-response-to-market-manipulation

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Tasaat Acquires TrueEx SEF Registration For Crypto Derivatives Platform

This is the first step to launching its derivatives platform. Once launched they will compete with big names like Bakkt and Seed CX on physically-settled bitcoin futures.

Tassat which was formerly known as trueDigital Holdings has acquired a swap execution facility (SEF) registration from the U.S. Commodity Futures Trading Commission (CFTC).

CFTC published an announcement on 6th November confirming that they have approved the transfer of SEF registration from trueEX LLC to Tassat. TrueEX first acquired its SEF registration back in January 2016.

The announcement read,

“true and Tassat met the requirement for transferring a SEF registration by demonstrating that Tassat will be in compliance with provisions of the Commodity Exchange Act and CFTC regulations applicable to SEFs after the registration is transferred. There are currently 19 registered SEFs, including Tassat,”

Tassat has expressed its desire to open a fully regulated crypto derivative platform for US customers which would offer a range of derivative products including physically delivered Bitcoin swaps.

Thomas Kim, Tassat CEO said,

“adding the exchange to our ecosystem delivers a complete end-to-end offering, currently unavailable today, that encompasses tokenization, payments, market data and settlement for the benefit of our clients and partners.”

If Tassat manages to get hold of designated contract market (DCM) registration which is also currently held by trueEX, it would be all set to open its derivative platform in the United States. The new platform would be competing against the likes of LedgerX, Bakkt/Intercontinental Exchange and many other derivative offering platforms in the US.

Tassat was founded in 2018 but has been actively involved in the decentralized space despite being a new platform. It helped build the Signet blockchain payments platform for Signature Bank, recently it partnered with AlgoTrader to offer its upcoming derivative products to institutional investors and it has also partnered with Kaiko and Inca Digital Securities to provide their customers access to the OTC bitcoin and ethereum reference rates.

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Crypto Mining Operations Licensed by FERC to Launch in 110-year Montana Power Plant, Old Rainbow

Montana’s Old Rainbow power plant, a century and a decade old, is now the home of a new cryptocurrency mining farm thanks to getting approval by the Federal Energy Regulatory Commission (FERC).

According to a Scribd report dated Oct. 24, the Federal Energy Regulatory Commission (FERC) granted a license of operations to California-based firm Susteen, to start a cryptocurrency mining in the establishment. The report states the building is to be preserved given the communities attachment to Old Rainbow with the mining equipment set to occupy only one section of the former powerhouse. There are plans to expand if the business proves to be profitable.

The Back Story of Old Rainbow

The Old Rainbow facility has a cultural and communal impact to the people of the state of Montana given the long history in the state’s mining and railway activities in the early 20thCentury. However, in 2009, a new powerhouse started development downstream on the Missouri river leading the commission to demand the Northwest Corporation, owners of Old Rainbow, to find “better use for the building or demolish it”.

In 2013, the company closed down but the community was against the demolishing of the building due to historical value. For the past six years, the owners have been debating on the best use for the building until the idea to set up a cryptocurrency mining center came along.

The document states the mining facility will ensure the preservation of the historic site while making use of the space.

The document further read,

“The proposed data center is supported by the (Old Rainbow powerhouse Repurposing) Committee and would preserve the building’s historic character.”

Mining Operations in the US

The United States is slowly building its claim as a crypto mining giant with multiple projects in development. First, Bitmain announced they will be building “the largest Bitcoin mining firm” in the world in Texas in light of their recent IPO filing to the SEC.

In addition, one of Bitmain’s largest competitors in mining, Canaan, is set to launch their public offering on NASDAQ in the coming month.

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Celsius Network Adds EOS Blockchain Token to Its Interest-Earning Wallet

Popular crypto lending network Celsius adds EOS cryptocurrency to its interest-earning wallet options so token holders can stake coins and earn high yields.

The Celsius Network has announced a new token for its interest-earning cryptocurrency wallet. According to a recent press release sent out to the media, the company will list EOS, a prominent proof of stake crypto.

Starting today, EOS holders will be able to earn yield from holding EOS coins on a Celsius wallet. Staking, which is a way to use cryptocurrencies that you hold to secure a network and earn profits from that, is somewhat complex, so a lot of people without the necessary knowledge face a difficult time while trying to participate.

With the help of the Celsius wallet, these people can deposit their EOS and stake it for a reward. Also, the holders will be able to borrow money (both stablecoins or fiat currency) against the EOS that they hold. Fees will be as low as 3.45%.

The CEO of Block.One, Brendan Blumer, has affirmed that the EOS ecosystem is proud to receive support from the Celsius Network. According to him, retail deposit solutions such as this one are very important for the growth of the network.

Celsius uses the solution provided by BitGo to store its over $350 million USD worth of crypto assets. At the moment, the company has 50,000 active users using its wallet solution. One of the main selling points of the product is that it lets the holders get a return on investment of up to 10% by lending the money they have, which means they can get a passive interest over time.

Alex Mashinsky, the CEO of the Celsius Network said,

“We’re doing our part to help decentralization scale by adding hundreds of millions of new users to the digital asset community, by offering innovative, customer-centric financial services, including borrowing and lending. When it comes to proof-of-stake, many cryptocurrency holders might not have the time or expertise required to stake, which would leave them missing out on potential rewards. We’re changing that with a secure and user friendly solution.”

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Zilliqa Donates $5 Million to Fund Oxford’s Blockchain Students to Support Diversity

Singapore-located Zilliqa (ZIL) crypto project debuts distributed ledger technology workshops at Oxford University to support diversity in the sector called Blockchain A-Z.

Zilliqa, a blockchain company based in Singapore, has recently announced that it would donate $5 million USD to the Oxford Women in Computer Science Society. This group supports women who are in the computer science field.

With the money from the company, the Oxford group will carry out several workshops, named Blockchain A-Z, and give grants to students. The workshops will be held at the University of Oxford and will be open to all kinds of students on campus (but each session will be limited to only 20 students at a time).

The workshops will cover several blockchain topics. They may include philosophical foundations of the blockchain, fundamentals, technical topics, and insights about the industry and its businesses.

Students interested in receiving the grants can submit their projects up until November 21. The ones who present the best ideas will receive the grant and special mentorship to move their projects forward.

Paula Fiddi, the president of the Oxford organization, affirmed that the mission of the group is to ensure that women get equal opportunities in the technology industry. The importance of diversity was also highlighted by Saiba Kataruka, a developer from Zilliqa. According to Kataruka, decentralization cannot really be achieved without diversity of race, gender and academic backgrounds.

Kataruke commented,

“Whether it be the diversity in race, profession, academic background, or gender, having a variety of individuals, each with a unique perspective and broad breadth of experiences to offer, is essential to success. Decentralisation is a core principle of blockchain, and you can’t really have decentralisation without diversity.”

This is surely an important initiative, especially when we look at the data. According to a recent survey done by Quartz, only 8.% of all blockchain companies were co-founded by women. Also, less than 5% of the top 100 crypto projects on Github were contributed by women, too. In order to reach diversity, these numbers have to go up.

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German Startup Iconic to List New Bitcoin Exchange-Traded Note (ETN) on Luxembourg Exchange

New Bitcoin derivatives product is launching as a regulated exchange-traded note by Germany’s Iconic crypto startup. The ETN could happen as soon as December 2019 and be listed on the Luxembourg and Frankfurt stock exchanges.

A new company in Germany is looking to list Bitcoin’s products on the Luxembourg and Frankfurt exchange platforms.

According to Handelsblatt, a German business news outlet on Oct. 29, the German startup has already filed an outline to be allowed to trade the exchange-traded note (ETN) for Bitcoin. The ETN is supposed to come to life as December starts this year (2019).

The startup, Iconic, announced that it would enable investors to trade ETN and expose them to the influential cryptocurrency on a marketplace that is strictly regulated. Iconic also added that this ETN would have its Securities Identification Number that is International.

German business daily said that even though this company has its main offices in Frankfurt, their ETN will be supervised by the Luxembourg Financial Supervisory Authority, which is Luxembourg’s finance watchdog.

Iconic will then invest the funds collected from trading ETN into Bitcoin. The Bitcoin is expected to be bought by a major cryptocurrency exchange based in the United States (Coinbase). The head offices for Coinbase are in the US and most of its primary operations, but the company is spreading rapidly to other countries.

ETNs as Blueprints for ETFs

Many investors will see ETNs as a financial product for the ETF (Exchange-Traded Fund). However, ETF is considered a security, which pursues a commodity or particular assets, the issuers’ foster ETNs.

The head of the Blockchain Center of the Frankfurt School of Finance and Management Philip Sandner said,

“Iconic has convinced both regulators and Deutsche Börse. The listing of their Bitcoin product on the Frankfurt Stock Exchange is a remarkable step […] A true Bitcoin ETF Europe is thus a significant step closer.”

The unveiling of the cryptocurrency ETF is a clear indication that the market is fully grown. That is because ETFs will ensure the significant institutional investors get more exposure to these crypto assets. ETNs have been received with less hype than an ETF would.

Experts say that ETN is like a leader for financial products that involve Bitcoin. Regulators are, however, still not that optimistic about ETFs and ETNs. Just this month, the US SEC rejected Bitwise’s application to list an ETF on the New York exchange platform. The Financial Conduct Authority is pondering over a ban on ETNs in the United Kingdom.

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Russia Mining Company (RMC) Targets 20% of the Global Bitcoin Mining Rewards with Launch of New Firm

Russia’s bitcoin mining company RMC is planning on opening up a new facility with the intention of mining one fifth of the global output of the international market.

Russian Mining Company set to restructure an old aluminum firm to a Bitcoin mining firm producing 20% of the total computational power required in global BTC mining.

Russian Bitcoin Mining Company (RMC) is targeting to reconstruct an aluminum factory in Karelia, Russia to build a digital hub that produces computational energy for BTC mining, AI and IT services in the local area. The Nadvoitsky Aluminum Plant (NAZ) Company is looking to get back into production since the US Foreign Assets Control (OFAC) sanctions its products to the US as its parent company Rusal’s owner Oleg Deripaska, a Russian oligarch was found to have ties with the Kremlin.

From Aluminum production to Bitcoin Mining

In a published post by RBC, the sanctions were lifted on the company once Oleg stepped down from his position in Rusal but production has barely taken off. In a restructuring effort by the company, the company is leasing out sections of the production site to create a digital hub and create employment for the locals dependent on the factory.

According to RMC’s Dmitry Marichinev, the company will occupy a section of the old production site and offer computational services for users as “an IT service.”

Marichinev said,

“Our idea is to redesign the plant and sell its computing power as a service, that is, provide an IT service.”

The report further claims that the firm is targeting control of 20% of BTC’s mining power, effectively making it one of the largest mining facilities in the world.

A shot at 20% control of BTC mining

The call to host miners controlling 20% of the total BTC supply seems rather ambitious from RMC. For reference, a block is mined at an average of 10 minutes with the block reward standing at 12.5 BTC. Doing quick calculations, a total of 1008 blocks are mined every week. With the price of BTC oscillating around $9,200 USD, 20% control of BTC mining activities translates to ~23 million USD every week.

However, with electricity prices in Russia significantly higher than the main BTC mining countries such as China, Yuri Pripachkin, President of Russian Association of Cryptoeconomics and Blockchain (RACIB), believes a realistic prediction lies around 5% to 7% control.

He said,

“For the Russian pool, it is realistic to focus on 5–7% of the total volume and the indicator very much depends on access to the corresponding electricity prices.”

Recently, a Texas based mining firm announced its plans to launch the largest bitcoin mining firm in the state showing the competition RMC faces in acquiring 20% of the total BTC mining hashing power.

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