Day: September 12, 2020

Huge ‘Bitcoin Tram’ Ad Campaign and 20 Billboards Flood Hong Kong’s Financial District

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A massive Bitcoin ad campaign has launched in the heart of Hong Kong’s financial district, featuring three Bitcoin trams and 20 matching billboards. It is a community initiative coordinated by the Bitcoin Association of Hong Kong, an organization with more than 5,000 members. The Bitcoin Tram Campaign The Bitcoin Association of Hong Kong announced Friday the start of a massive bitcoin awareness initiative called the Bitcoin Tram campaign. Various ads are scheduled to run between Sept. 11 and Oct. 8. During that time, three doubledecker bitcoin trams of various lines…

Why we need evolutionary, not revolutionary, regulatory initiatives

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This July, Luxembourg — the world’s second-largest domicile for investment funds behind the United States — submitted a draft law updating a law from March 1, 2019 that allowed for the registration and transfer of securities by custodians. With this draft law, issuance itself can be based on distributed ledger technology, thereby introducing truly dematerialized DLT or blockchain-based securities. Furthermore, a central “issuance account” keeper (transfer agent) is required to assume responsibility, and the account keeper has to be authorized by any member state of the European Economic Area, which…

AnChain.AI and Bluehelix partner for compliance solutions

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Blockchain company AnChain.AI and decentralized finance and technology provider Bluehelix plan to launch solutions addressing compliance within blockchain networks. According to reports, the two companies will roll out its Blockchain Ecosystem Intelligence, or BEI, risk engine solution. BEI is based on an API and will offer comprehensive real-time, preventive blockchain intelligence. AnChain.AI said BEI looks over 100 million crypto address and smart contracts and sifts through this using a machine learning model. It will find the best compliance structure to meet anti-money laundering (AML) when determining the source and destination…

Many blockchain projects have ‘smoke-and-mirror’ strategies: Avalanche CEO

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Emin Gün Sirer, founder and CEO of the blockchain protocol, Avalanche, took to Twitter to explain why he considers that many blockchain projects keep applying dubious strategies in the industry. Sirer considers that some projects are based on “lots of hype, lots of technical-sounding claims,” partnership with companies “too embarrassed to say they were duped,” and also with no actual working novel system. Overall, he says that all is just “smoke and mirrors around old tech” inside most blockchain projects’ operations. Sirer issued such opinions in the wake of a…

Bitcoin can hit $16K but only if this resistance level finally breaks

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A week ago, the market was on shaky ground as volatility went through the roof with massive drops in portfolios seen across the board. However, this past week was relatively boring and stable as the price of Bitcoin (BTC) is now in a narrow range.  This narrow range is confusing the majority of traders as it is not hinting at any direction for further momentum. Will Bitcoin break back above $11,000 or will the markets close the CME gap at $9,650? Let’s take a closer look at the charts. What…

A by-the-minute look at Tether’s $1 billion swap from Bitfinex to Binance

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On August 20, a Tether swap worth $1 billion happened — it involved Binance, Bitfinex, and a major fire dumpster on TRON (TRX) blockchain.  Tether flows. Source: Flipside Crypto. From time to time, the news of Tether burning some of its supply on one blockchain and then minting it anew on another appears in the headlines. Although it sounds easy enough, in reality, it involves quite a bit of planning and more importantly — trust. Tether $1 billion swap transactions. Source: Cointelegraph. During the six-transaction swap that spanned two blockchains…

A shrinking window of opportunity

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Over the years, we have seen a lot of trends such as initial coin offerings, initial exchange offerings, security token offerings, decentralized autonomous organizations and many more, but none of these have become the mainstream. The concept of decentralized finance undoubtedly has its merits, but as the factors that sank the predecessors remain, we have reason to conclude that DeFi is not for long.  The window of opportunity has shrunk for several reasons: firstly, because of fraud within the space; secondly, the readiness of regulators to “save” the market from…

DeFi meme coins spark debate over their intentions

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In recent weeks, talk of hotdogs, sushi and yams has infiltrated the crypto industry. Such references, however, are not as they seem and actually relate to assets in the decentralized finance sector of crypto. Over the course of 2020, DeFi has seen bubble-esque speculatory levels based on projects that may or may not hold long-term promise or stability. Opinions on the new hype surrounding food-themed tokens vary. “It’s just a fad,” Tone Vays, a YouTube content creator and derivatives trader, told Cointelegraph, adding: “They’re all literally Ponzi schemes.” Meanwhile, Philip…

Google Begins Tests for Stadia Streaming on Mobile Data

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As both online gaming and streaming software go from strength to strength, Google’s Stadia could be one of the first to offer its service without WiFi. At the end of July, Google announced that it was launching tests to see whether users can play games on its Stadia app over 4G and 5G. Until this point, the app has only been available on Android devices with a reliable WiFi connection – but if the tests are successful, users will be able to stream games from their favorite provider or online…

Why DeFi, in its current state, is destined to fail

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Decentralized finance, in a nutshell, promises transparency and offers beneficial terms for borrowers. DeFi platforms are supposed to build an alternative financial system for offering/receiving loans, exchanging currencies, making payments, etc. There are no banks, brokers or trusted third parties, governments are not involved, and finally, notorious middlemen are eliminated. There is just secure, transparent software. DeFi allows borrowers to take hassle-free loans: You don’t have to worry about bank account creation, lengthy application reviews or paperwork. For crypto holders, DeFi offers an opportunity to lend their assets to other…