Day: December 14, 2018

Brazilian Premier League Soccer Club Launches Crypto ‘Fan Tokens’

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Brazilian premier league soccer club Atletico Mineiro has launched a fan token dubbed “GaloCoin,” Cointelegraph Brazil reports Friday, Dec. 14. The GaloCoin is named after Atletico’s mascot, a rooster (“galo” in Portuguese). It is based on Footcoin — a platform that allows to launch utility tokens on the Ethereum blockchain. The GaloCoin is tied to the national fiat currency exchange rate and is equal to one Brazilian real. Atletico’s token will allow fans to purchase game tickets, official apparel, as well as participate in discount programs. To use the club’s…

Brazilian Premier League Soccer Club Launches Crypto ‘Fan Tokens’

boss

Brazilian premier league soccer club Atletico Mineiro has launched a fan token dubbed “GaloCoin,” Cointelegraph Brazil reports Friday, Dec. 14. The GaloCoin is named after Atletico’s mascot, a rooster (“galo” in Portuguese). It is based on Footcoin — a platform that allows to launch utility tokens on the Ethereum blockchain. The GaloCoin is tied to the national fiat currency exchange rate and is equal to one Brazilian real. Atletico’s token will allow fans to purchase game tickets, official apparel, as well as participate in discount programs. To use the club’s…

Bahrain’s Central Bank Publishes Draft Regulations on Crypto Assets

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Bahrain’s central bank has issued draft regulations on digital assets, Reuters reports Friday, Dec. 13. According to Reuters “the central bank said it had issued for consultation draft rules for crypto asset platform operators, providing regulations for the licensing and supervision of crypto asset services.” Bahrain’s central bank has reportedly stated that the proposed regulations include “measures to safeguard customer interests, technology standards, and cybersecurity risk management.” Bahrain first announced its positive stance toward blockchain over a year ago. At the time, Khalid Al Rumaihi, the country’s chief executive of…

Porsche Arranges $170m Loan Using BBVA’s Blockchain Platform

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Prestige car-maker Porsche has arranged a loan to back its proposed strategic acquisitions using Spanish-bank BBVA’s ever-developing distributed ledger technology (DLT) platform. The loan, valued at €150 million (the equivalent of nearly $170 million USD) is, says a press release from BBVA: “The first acquisition term loan ever arranged through blockchain technology.” Acquisition term loans are provided for a specific purpose and period. In this case, Porsche Holding Salzburg, a subsidiary of Volkswagen AG, is seeking to expand its retail distribution network in Europe and Asia. The pilot also makes…

US Credit Union Blockchain Consortium Joins R3’s Global Ecosystem

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CULedger, a credit union service organization (CUSO)-owned blockchain consortium, has joined enterprise software firm R3’s global blockchain ecosystem. The partnership was officially revealed in a press release published Dec. 13. Based in Denver, Colorado, CULedger reportedly delivers blockchain applications to credit unions and their members, using the technology to mitigate cybersecurity and fraud risks, as well as streamline administrative and operational processes to save time and costs. The firm also provides a specific blockchain-based identification solution for credit union members. As the press release notes, the consortium joins the R3…

US Credit Union Blockchain Consortium Joins R3’s Global Ecosystem

boss

CULedger, a credit union service organization (CUSO)-owned blockchain consortium, has joined enterprise software firm R3’s global blockchain ecosystem. The partnership was officially revealed in a press release published Dec. 13. Based in Denver, Colorado, CULedger reportedly delivers blockchain applications to credit unions and their members, using the technology to mitigate cybersecurity and fraud risks, as well as streamline administrative and operational processes to save time and costs. The firm also provides a specific blockchain-based identification solution for credit union members. As the press release notes, the consortium joins the R3…

These Two Analogies Will Help You Explain Bitcoin to Anyone

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Explaining Bitcoin to someone who knows nothing about Bitcoin isn’t easy. In fact it’s fiendishly tricky. Describing concepts such as blockchain, decentralized networks, and permissionless ledgers to beginners is as tough as describing the color orange to a blind person or the taste of an orange to someone who’s never peeled one. Two new Bitcoin analogies surfaced this week, however, that should make that task easier. Also read: Password Manager App Dashlane Mocks Cryptocurrency Owners How to Explain Bitcoin to Anyone Complete the following sentence: “Bitcoin is like ____.” Defining Bitcoin…

Major Spanish Bank BBVA Closes €150 Mln Loan With Porsche Holding Using Blockchain

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Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has closed a €150 million loan using blockchain technology with Porsche Holding, the largest car distributor in Europe. The news was reported by financial news site Finextra Dec. 14. The transaction is reportedly BBVA’s first blockchain-based loans deal with a non-Spanish borrower. The bank has to date arranged several blockchain-based loans with Spanish corporate customers, including a syndicated loan of $150 million for partly state-owned Spanish national electrical grid operator Red Eléctrica de España (REE) in November, and a €100 million…

XYO Network Partners With Esri For Blockchain Enabled Geographic Information System

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XYO Network, a blockchain-based geographic information system (GIS) with an Ethereum token and its own blockchain network, announced today a partnership with Esri, one of the world’s oldest and largest GIS systems and mapmakers, a company founded in 1969. The partnership came about when XYO hired a former Esri employee and the partnership became an obvious move. Esri wants to be able to access the data that the XYO Network is creating for its clients, and XYO network wants to have access to those clients. Esri owns ArcGIS, a premier…

Bitcoin Cash Tanks 13 Percent as Major Cryptocurrencies All Fall Hard

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Friday, Dec. 14 — Bitcoin Cash (BCH) led fresh losses across cryptocurrency markets as investors in the top twenty assets by market cap shouldered new lows. Market visualization from Coin360 Data from Cointelegraph’s own price index, Coin360 and Coinmarketcap painted a gloomy picture at press time Friday, with Bitcoin (BTC) dropping about 3.5 percent in 24 hours. Having staved off a move below last week’s current “bottom” around $3220, BTC/USD has failed to find support much higher, now circling $3300 to cap almost 50 percent monthly losses. Bitcoin 7-day price…