Blockchain Startup Developed Solution to Crypto’s Irreversible Transaction Problem

An Israel-based blockchain startup has developed a way to retrieve crypto funds sent to wrong addresses. The startup has developed a new technology that could prevent the loss of funds caused by human error when sending Bitcoins or other cryptocurrencies. The mistake is common as wallet addresses are represented by a unique and random string of alphanumeric characters that can easily be entered incorrectly. Users at Fault of losing crypto assets According to research, 55% of respondents said that they had experienced stressful human errors when sending crypto assets, and…

Bitcoin Startup Zap Is Working With Visa

Lightning developer and Zap, Inc. founder Jack Mallers announced Thursday his startup’s Strike product, which allows people to receive bitcoin as dollars via direct bank deposits, is finally entering public beta. A Visa card is also in the works. “Zap, Inc. has joined Visa’s Fast Track program,” Mallers said in an email about the startup’s plan for 2020. “Visa works with members of the Fast Track program to help them go to market in the most efficient way possible, providing them support and resources every step of the way.”  He…

Data Startup Wants to Rank Every Cryptocurrency Product From Media to Wallets

Cryptocurrency data startup Nomics, in partnership with Nexo, is introducing algorithmic rankings of crypto wallets, lenders, custodians, tax services and over-the-counter desks. The plan is to eventually extend these rankings to every crypto product category, including media outlets. According to Nomics CEO Clay Collins, the same algorithm is applied to all categories without any manual intervention, which should make the rankings more objective. Each entity receives a reputation score based on social media activity and site links. The exact recipe is not disclosed in order to prevent manipulation. Unexpected results…

Startup Brings Blockchain Functionality to Steam Gaming Platform

Blockchain’s inexorable push into the world of gaming is occurring simultaneously on a number of fronts. From AAA tentpole productions backed by major crypto players, through crypto-powered Esports tournaments in popular non-blockchain titles, to encouraging developers on board with easy-to-use blockchain integration tools. GOATi Entertainment is taking a dual-headed approach of its own with its Pavillion Hub offering; targeting both the developers and players on one of the largest gaming platforms around, Steam. Steam, but turbo-charged and blockchain-enabled Pavillion Hub, powered by Phantasma blockchain, acts as a kind of blockchain-enhanced…

Cryptography Startup Brings Private Payment Channels to Tezos Blockchain

Cryptography firm Bolt Labs has launched a private payment solution, zkChannels, on Tezos.  The startup is now working with Tezos developer groups Nomadic Labs and Metastate to implement the tech in the next network update.  Similar to the Lightning Network, zkChannels is a payment channel for blockchains but with zero-knowledge proofs attached. A current problem with Lightning – a payment solution built on top of the Bitcoin blockchain – is that in certain settings, you can see other people’s de facto bank accounts, called funding channels. zkChannel hides that information from…

A Crypto Startup in India Raises $650k to Bring “Chit Fund” on Blockchain

Crypto startup ChitMonks has raised $650k in a pre-series A round with the help of early-stage investors Unicorn India Ventures (UIV). The firm aims to revolutionize proceedings by bringing 21st-century blockchain technology to the old-fashion chit-fund market. “At ChitMonks, we are building India’s largest blockchain network for Savings and Borrowings. We synergize Chit Fund Companies, Regulators, Subscribers, Banks, Service providers, EcoSystem enablers to drive the largest trusted network of Savers and Borrowers platform.” Records of Chit-funds go back to the 19th century. They are a type of rotating savings and…

South African Solar Energy Blockchain Startup Raises $3 Million, Plans to Expand Across Continent

South African blockchain peer-to-peer renewable energy platform Sun Exchange obtained a $3 million investment from ARCH Emerging Markets Partners, thereby closing its $4 million Series-A funding round, according to a statement issued today. Sun Exchange allows international clients to buy remotely-located solar cells — either with Bitcoin (BTC) or South African Rand — and then lease them to power businesses and organisations in emerging markets. Abe Cambridge, the startup’s CEO and founder, told Cointelegraph: “Solar cell owners earn income from the electricity that’s generated, while schools, businesses, clinics and other…

Startup to Launch Blockchain-Based Investment Platform for Music Royalties

Luxembourg-based startup ANote Music will launch a blockchain-based platform that allows its users to invest in music royalties on July 28. In an announcement on June 4, CEO and co-founder at ANote Music Marzio Schena said that the platform aims to “bridge the gap between the music industry and capital markets.” The platform reportedly helps artists, record labels, publishers, and songwriters become financially independent by allowing them to access funding through royalty sales. After investing, users receive a share of rights and can trade them with others on the platform…

SEC Orders ICO Startup to Return $25.5M to Investors

The United States Securities and Exchange Commission (SEC) has ordered cryptocurrency firm BitClave to return $25.5 million to investors. In a March 28 announcement, the SEC announced charges against the California-based cryptocurrency startup. The regulator found BitClave to be responsible for selling unregistered securities in its initial coin offering. Chief of the SEC Enforcement Division’s Cyber Unit Kristina Littman commented: “Issuers of securities, traditional or digital, must comply with the registration requirements of the federal securities laws. […] The remedies ordered by the Commission will provide meaningful relief to investors…

Ontology Partners With German Startup to Accelerate Supply Chain Identity Solutions

Ontology recently partnered with German digital identity and cloud wallet provider, Spherity, to collaborate on expediting development on digital identity solutions for products and enterprises. The partnership will see Spherity’s Cloud-Edge wallet integrate with Ontology’s (ONT) blockchain, and allow Ontology to use Spheriy’s Decentralized Digital Identity solutions. The two firms will work together on creating proof-of-concept pilots demonstrating applications for digital identity within the context of supply chain, mobility, and pharmaceuticals — leveraging Spherity’s existing customer base. Ontology and Spherity will also collaborate on research and marketing initiatives. Identity solutions…