Russia’s Alfa-Bank offers blockchain platform for freelancers

Alfa-Bank, one of the largest private commercial banks in Russia, is exploring blockchain technology in its services for freelancers. According to a Dec. 1 announcement, Alfa-Bank will use blockchain-based applications to automate services for freelancers and self-employed workers. Based on Waves Enterprise’s blockchain platform, Alfa-Bank’s new service covers the entire process of registration and remuneration for self-employed individuals, including payments settlement, income registration and tax payments. Denis Dodon, director of Alfa-Bank’s research and development center, told Cointelegraph that the new blockchain-based service enables freelancers to get direct remuneration via any…

Ethereum-based market platform unveils a new DAO

Gnosis, an Ethereum-based platform that facilitates betting on events and other metrics, revealed plans for its own Decentralized Autonomous Organization, or DAO, called GnosisDAO. “This will have the effect of progressively decentralizing Gnosis as a project using a native governance framework powered by their token economy, bringing governance to the coming internet of value,” according to a Monday public statement sent to Cointelegraph. In addition to its prediction markets wing, Gnosis has a multisignature, or multisig, Ethereum-based digital asset storage platform. GnosisDAO involves Gnosis’ prediction markets and its multisig wallet…

Our platform will ‘significantly bolster the utility of cryptocurrencies’

PayPal’s chief executive believes cryptocurrencies are on the verge of mainstream adoption as more businesses and consumers flock to “digital payments and digital forms of currency.”  In an interview with CNBC, PayPal CEO Dan Schulman said the COVID-19 pandemic has accelerated the shift to digital forms of payments. PayPal wants to be at the forefront of the ongoing digital transformation. Schulman said the “use of cash has declined precipitously” amid the pandemic, adding that “40 to 70% of consumers no longer want to handle cash.” PayPal is not just making…

SEC gives OK to social media platform to issue stablecoin without registering as a security

The U.S. Securities and Exchange Commission, or SEC, has issued a rare no-action letter in response to a request from a blockchain-backed platform over the issuance of a digital asset. The SEC letter issued on Nov. 19 says that its Division of Corporation Finance would “not recommend enforcement action” against avatar social platform IMVU issuing its VCOIN digital asset under certain conditions. The commission will allow the firm to offer the token without registering it as a security. Crypto firms issuing their own tokens often have to abide by the…

Waves Enterprise releases blockchain voting platform to the public

Waves Enterprise, the business-focused spin-off of the Waves project, announced on the public release of its blockchain voting system primarily aimed at corporations and board governance. The Waves system uses blockchain at every step of the voting process, as votes are recorded and then counted with full cryptographic guarantees. Homomorphic encryption is used to accurately tally votes without having to reveal the identity of the person who cast each ballot. While the system is primarily targeted for lower stakes environments such as corporate boards, the technology has recently been trialed…

Tencent joins forces with ShareRing to launch blockchain digital ID platform

Chinese conglomerate Tencent Holdings is joining forces with blockchain company ShareRing to launch a new digital identification system to streamline international travel amid the pandemic.  As the South China Morning Post reported Tuesday, ShareRing will combine its distributed ledger technology with Tencent’s cloud services to create a blockchain-based digital identity management platform. Specifically, ShareRing will use Tencent Cloud’s optical character recognition, or OCR, and facial recognition technology to help improve its “self-sovereign identity app.” In its current form, the app can be used to book flights, hotel reservations, car rentals…

Microsoft Exec Joins Blockchain Gaming Platform Enjin to Lead Enterprise Push

Blockchain gaming platform Enjin is launching a bid to attract more enterprise business and it’s hired an executive with two decades of experience at Microsoft to lead the effort. Announced Monday, Alex Solomon, whose last role at Microsoft was Azure product marketing director, Western Europe, has joined Enjin as its executive director of enterprise platforms. As Enjin’s enterprise chief, Solomon will work with corporate clients looking to create digital experiences using blockchain tech to improve customer retention, acquisition and engagement, the firm said. The aim is to offer a full-service…

Akropolis DeFi Platform Hacked for $2 Million in DAI

Ana Andrianova, the Akropolis founder and CEO, has denied allegations that the latest attack was done similarly to the one DeFi protocol Harvest Finance encountered in October. Akropolis is the latest decentralized finance (DeFi) project to be hacked through flash loans. The Gibraltar-based DeFi platform runs a protocol that generates interest on pooled Ethereum-based assets. The latest reports reveal that hackers managed to exploit saving pools and got away with over $2,051,159 in DAI stablecoins. They later moved the funds to a different address away from Akropolis. The project announced:…

Cred customers demand answers after platform files for bankruptcy

United States-based cryptocurrency lending service Cred filed for Chapter 11 bankruptcy protection on Saturday, leaving many customers searching for solutions to get their funds.  According to court documents, the legal team for Cred CEO Daniel Schatt filed bankruptcy papers for the company in the District of Delaware on Nov. 7. Cred listed its estimated assets at between $50-100 million and its estimated liabilities between $100-500 million.  In an official statement, the company said it had filed for Chapter 11 in an attempt “to maximize the value of its platform for its…