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Bank of England Researching Digital Currency

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Despite rumours to the contrary, the UK government have announced that they will not be following the likes of Venezuela in launching their own digital currency for now. Whilst the Bank of England are indeed studying the implications of centrally-issued electronic currency, a government minister has stated that there are no plans in the immediate future to launch their own.

Government Respond to Opposition Query

According to the Independent, the issue was raised by a Labour MP in early February. Barry Sheerman asked “whether the Government will introduce a fiat digital currency.”

John Glen, the Economic Secretary to the Treasury and City Minister, has since responded in the negative:

“The Bank of England does not currently plan to issue a central bank-issued digital currency… However, the Bank is undertaking research to better understand the implications of a central bank issuing a digital currency.”

As mentioned, the Bank of England is studying the area closely. It has produced its own digital currencies page. It states that they are “carrying out ongoing research” into electronic currencies and their underlying technology. On the website, they are careful to differentiate between what they strangely refer to as “private digital currencies” such as Bitcoin (the entirely permission-less, border-less cryptocurrency that has no central issuing authority and can be accessed and used by any member of the public across the globe) and “central bank-issued digital currencies”. The latter would likely require all transactions be authorised by the bank themselves and thus entirely miss the point (and therefore the revolutionary and transformative power) of truly decentralised cryptocurrencies.

The page goes on to say that the Bank of England perceives no immediate threat from digital currencies. They state:

“We have assessed private digital currencies and concluded that while they are interesting, they do not currently pose a material risk to monetary or financial stability in the UK. We continue to monitor developments in this area.”

Whilst the recent announcement from Glen clearly states that a centrally-issued electronic currency would not be launched in the UK anytime soon, the research by the central bank, along with the lack of an explicit ruling out of the possibility in the future leaves the door open for a  U-turn at a later date.

As part of the bank’s research, the institution will no doubt be carefully following the development of Venezuela’s El Petro. The South American nation recently launched their own digital currency that is backed by their oil reserves. It will provide financial institutions around the globe a useful case study for developing their own policies towards electronically-issued currency and whether or not they too will launch their own.

Meanwhile, it appears that other nations are following Venezuela’s lead. Both Turkey and Iran have been considering the possibility of creating their own national digital currencies. Meanwhile, Russia is also taking steps in a similar direction. It’s thought that the CryptoRuble will help the nation avoid various international sanctions levied against it.

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Blockchain

OKB Global Empowerment with Enhanced Ecosystem Applications

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The latest OKB Ecosystem Report for Feb 2020 was released by the OKB team on March 10. During the past Feb, OKB, an exchange token adopted by OKEx, has expanded 5 new application scenarios internally and externally and 5 new trading channels for spot trading and pending order mining. What’s more, the launch of OKChain testnet and OKEx DEX, the announcement of 700 million unissued OKB has been burned and the completion of the 7th OKB buy-back and burn, are all expected to utilize the potential of OKB.

As of today, the OKB team has developed up to 13 platform-based application scenarios along with 35 external application use cases, which allow OKB holders to purchase products or services with OKB token. Besides, OKB has also strengthened its global presence, now supporting 8 major fiat gateways including US dollar, Euro, South Korean won, Vietnamese dong, Indonesian rupee, etc., and is listed on over 50 trading platforms, including Bitfinex and Bitmax.

The report also announced that OKB will soon be migrated to the OKChain mainnet from the Ethereum ERC-20 network and 100% of the genesis block of OKT, the native token of OKChain, will be mapped to OKB holders. Besides, OKB holders will be able to participate in the governance of OKChain and become a supernode in the future as OKT and OKB will be interconnected to foster the ecological development of OKChain.

OKB continues to expand its ecosystem

As an exchange token adopted by OKEx, the world’s largest spot and derivatives exchange, OKB now supports spot margin trading (up to 3x leverage) and Savings services on OKEx with a borrowing rate as low as 0.01%.

In terms of external use cases, OKB reached cooperation with 3 new partners, including ZelCore, HiCats and InfinitioWallet, covering crypto storage and blockchain game, which further improved the ecological layout of OKB.

The OKB globalization

On Feb, OKB has been listed on 5 exchanges, including Bitribe and BW, two well-known Korean trading platform, to open OKB/BTC and OKB/USDT trading pairs, Malta-based exchange BHEX, and BitSG, a notable exchange in Singapore, to support OKB depositing and withdrawal services and the ETF of OKB for spot margin trading. Apart from that, OKB also landed on ViteX, one of the major decentralized exchanges in the world, to support OKB’s pending order mining services.

OKB is now in rapid global expansion, covering 141 countries and regions around the world, and is constantly working to enhance its liquidity and competitiveness in the market to reach new heights.

About OKEx

The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.

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Realio Announces launch of RST token sale on Algorand’s Blockchain

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Realio

Realio, an end-to-end digital asset issuance and peer-to-peer trading platform focused on real estate private equity, today announced a partnership with Algorand, the technology company that built and developed the world’s first open, permissionless, pure proof-of-stake blockchain protocol.

The Realio Issuance Network is a layer 2 solution built for compliantly issuing-on and interconnecting decentralized ecosystems across global jurisdictions. The network is being fully tokenized through the RST token sale which aims to be the first truly hybrid security/utility token, offering ownership and profit share rights over the network alongside staking and utility features to participate in network validation, voting and more. RST tokens will be made available for purchase as an Algorand Standard Asset (ASA) and designed for interoperability with other supported blockchains and platform features such as RealioX. Algorand, one of the top next generation blockchain protocols, joins Fusion Foundation among others in supporting the Realio Issuance Network.

RST tokens will be offered (with the private sale beginning on March 16) via the Reg D 506 (c) and Reg S exemptions, enabling global participation.

“We are kicking off this token sale with incredible momentum, having pre-sold over 2 million RST while adding another world-class technology partner who shares the same vision for the future of a global, borderless financial ecosystem,” noted Derek Boirun, founder of Realio.

“Algorand’s protocol was designed for decentralized financial applications and networks of the future like Realio, and we are pleased to support the long term value their initiative will provide, ” said W. Sean Ford, COO of Algorand. “Combining Algorand’s simplified asset creation, instant economic exchange, and immediate transaction finality with Realio’s groundbreaking token issuance network is a significant step forward in defi compliance and innovation.”

About Realio

The Realio platform is an end-to-end, blockchain-based SaaS platform for the issuance, investment and life-cycle management of digital assets. Realio combines access to a decentralized (p2p) exchange with the features of a sophisticated issuance/investment platform in order to merge enterprise-grade blockchain solutions with institutional quality investment vehicles. Potential users of the platform should visit us at www.realio.fund.

About Algorand

Algorand Inc. built the world’s first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction in financial exchange, Algorand Inc. is powering a financial evolution by enabling the creation and exchange of value, building new financial tools and services, while providing responsible privacy features.

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Digital Assets and Their Role in the Development of the Global Economy

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Active development of the global digital economy contributed to the emergence of a number of new terms and definitions. Special attention is paid to defining blockchain tokens. Electronic currencies, virtual assets, cryptocurrencies, digital assets — these new financial instruments still have no definition. How can you sort through numerous concepts and identify the most important ones?

Main Definition

Today, there is no specific definition of the term “digital asset”. This is why the main idea of the term is complicated, which leads to misrepresentation or incorrect description of this information. The following definition is considered the most complete: digital asset means an information resource derivative of the right to a value and circulating in the distributed ledger in the form of a unique identifier.

Analyzing the legal and regulatory framework, we can conclude that international institutions, SEC institutions in particular, do not currently use the term “digital asset”. Meanwhile, the ESMA uses the term “cryptocurrency asset”. Such assets include any digital representation of interest that has a value and the right to receive benefit or the fulfillment of certain functional tasks.

Later on, aiming to define a new type of an instrument, a number of tests and options for regulating it were created.

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Howey Test

The Howey Test is a kind of a formula, according to which we can identify whether certain transactions can be classified as an “investment contract”. When defining any financial instrument as a security, we have to check its correspondence to the following criteria:

  • investment of funds;
  • investment into the common venture;
  • expectation of a certain amount of profit by the investor.

ICO Guidelines From FINMA

Afterwards, when popularizing the ICOs (Initial Coin Offering), a need to regulate this process arose. Thus, the financial regulator of Switzerland, FINMA, published clear recommendations for ICOs. The guidelines include information needed for sound resolution of all issues regarding the ICO by the regulator.

According to the classification of the regulator, there are several types of tokens:
· Payment tokens.
They are used as means of payment or exchange.
· Utility tokens.
This type of tokens provides the owner with a digital access to services of a blockchain-based project.
· Asset tokens.
They act as an obligation for the issuer, an equivalent to the right of a shareholder.

Methodology for Determining Whether a Blockchain Token Corresponds to a Digital Asset

Last year, the representatives of the Ukrainian IT sector proposed a test for a blockchain token’s correspondence to a digital asset. The methodology was developed in accordance with certain criteria and indicators of a blockchain token. Its questionnaire contains 18 questions, and the answers allow comparing the characteristics of a blockchain token to a digital asset. Based on the results of the test, we can determine the level of a blockchain token’s correspondence to the categories of a digital asset.

When talking about the developments in this area, we have to mention the expert research works in the field of developing blockchain and establishing digital assets carried out by Alexander Kud. The substantiation of the term “digital asset” helped determine the components of this definition by analyzing its essence.

Conclusion

Studying the matter of defining digital assets, their legal regulation and development in the world, we see that this is a kind of a “revolution”. The revolution in the financial world, which already bears fruit.

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SpiderOak Expands Executive Team With Key New Hire

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SpiderOak is pleased to announce and welcome Michael Campanelli, who will join the SpiderOak Mission Systems team as the Vice President of Federal, working remotely from the DC Metro Area. Within this role, Campanelli will establish and lead the SpiderOak business in the government market, specifically supporting customers in the Intelligence & Defense communities.

Michael comes to SpiderOak from Prominent Edge LLC where he was the Executive Director of Business Development, responsible for all new business ventures, contracts, marketing, and sales. A former Director on the Board of Directors for the United States Geospatial Intelligence Foundation (USGIF), Mr. Campanelli is a sixteen-year veteran of the U.S. Intelligence Community and has spent his career leading teams in the design and implementation of large-scale systems for the storage, analysis, and exploitation of complex data.

“Michael has the leadership experience, proven track record, and stellar reputation in IC and DoD spaces, which is exactly what we need as we take our business to the next level,” said Christopher Skinner, Chief Executive Officer, SpiderOak. “At SpiderOak Mission Systems Michael will introduce the federal market to a disruptive new technology that helps protect our nation and save lives.”

“I was attracted by the company’s mission to Secure the World’s Data and the commitment that the company has to improve our nation’s security,” Campanelli said. “I believe that truly secure products – on-demand cryptographically secure enclaves – are going to change how the federal government works, shares, and communicates data. This technology is a game changer.”

Campanelli combines his experience in business development and leadership with past experience in a number of other areas, specifically Motion Intelligence, Mission Planning, and Radar. Throughout his career Michael has had the honor and privilege to work both behind a desk and in the field, including the opportunity to spend time at sea on board the Aegis Guided Missile Destroyer, USS The Sullivans. Mr. Campanelli earned a B.S. in Aerospace Engineering and a B.S. in Mechanical Engineering from West Virginia University, a M.S. in Systems Engineering from The George Washington University, completed post-graduate study in Geospatial Intelligence at Penn State University, and most recently completed a course of study in Data Science at MIT.

“We offer a preventive way that stops the pain caused by so few to so many,” added Skinner. “It’s time to embrace new and seek out the root cause of constant failure. We make it possible to operate on any network, creating enterprise controls for distributed systems. Michael Campanelli brings the experience and knowledge needed to fulfill our mission.”

SpiderOak builds need-to-know technology that supports customers working in hostile environments. Traditional systems trust IT infrastructure to maintain the whole security system, even though the news is rife with evidence that this model does not work. Our software combines end to end encryption with a distributed ledger technology to offer best-in-class security with no backdoors.

About SpiderOak Mission Systems Inc.: SpiderOak Mission Systems offers the US defense and intelligence communities tools which enable the creation of secure virtual enclaves. Designed to offer strict need-to-know assurances. We believe you deserve the easy, efficient deployment of SaaS solutions without compromising the security of the mission, sensitive information, or team members themselves. Built on distributed ledger (blockchain) technology. Cryptographically secure, zero-trust, compartmentalized data protection with mission-level controls, even over arbitrary networks. Enterprise controls for distributed systems is the future of security.

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Stellar Development Foundation Announces Strategic Investment in DSTOQ

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StellarX

Stellar Development Foundation (SDF) announces the closing of a strategic investment in DSTOQ Group AG. The investment of $715K, paid in lumens, is the first made by SDF through their new Enterprise Fund. DSTOQ, a Liechtenstein-based FinTech company, helps make investing accessible and affordable for people in emerging markets, through a borderless digital interface for security tokens built on the Stellar network, a global, decentralized open source blockchain. Through the DSTOQ interface, users have easier access to blue chip shares, such as Tesla or Amazon, as well as bonds, indices and commodities using fiat or cryptocurrencies.

DSTOQ’s first market will be Vietnam, followed by South Africa and other African, South American, and Asian developing countries. DSTOQ users require only a smartphone to access global financial markets, which thanks to Stellar’s infrastructure layer, makes the entire process not only more accessible but also more efficient.

About the investment, Denelle Dixon, CEO and Executive Director of the Stellar Development Foundation (SDF), said: “At SDF, we seek to unlock the world’s economic potential by making money more fluid, markets more open, and people more empowered. DSTOQ’s sharp focus on cross-border investing and their unique approach to helping people in emerging markets to gain access to investment opportunities abroad speaks directly to our mission at SDF. Together, we hope to improve the lives of millions of people while simultaneously creating exciting new business opportunities.”

Craig Mc Gregor, CEO and co-founder of DSTOQ, said, “We are grateful for SDF’s vote of confidence and continued support towards our shared vision of building and improving the global financial system. Together, DSTOQ and SDF aim to improve financial inclusion in markets that desperately need better access to global products. For too long these markets have been ignored – we look forward to changing that with this exciting technology.”

DSTOQ made the strategic decision to use blockchain technology in the development of its architecture due to some unique properties that benefit their business model. For example, Stellar enables the tokenization of assets, such as shares of Apple, in a far more efficient manner that allows users in emerging markets to invest at a fraction of what it would otherwise cost. The use of the Stellar blockchain proved to be a game-changing decision for the company, as they mention in their blog.

Jed McCaleb, co-founder and Chief Architect of Stellar, said, “DSTOQ is making markets accessible to new geographies, connecting the world’s global infrastructure in an exciting and innovative way. We are really excited to see companies like DSTOQ take the use cases for our technology to the next level.”

DSTOQ has focused on the building blocks of an entirely new financial system, developing the technology and partnerships required for its success. In the months to come, DSTOQ will share more insights on these foundational steps, including a new partnership with an innovative European bank with strong ties to Asia.

About DSTOQ
DSTOQ helps make investing accessible and affordable – for people in emerging markets. The group of DSTOQ companies provides services such as Token Generation for the creation of security tokens, as well as a digital interface for transactions of security tokens, through which users have easier access to blue chip shares, such as Tesla or Amazon, as well as bonds, indices and commodities using fiat or cryptocurrencies.

About Stellar
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Dozens of financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 4 million accounts.

About Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology.

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Curv’s Keyless Cryptography Brings a New Level of Security to Bitcoin Satoshi Vision

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Today, Bitcoin Association announced Bitcoin Satoshi Vision (BSV) will be fully supported by Curv’s institutional digital asset security platform. Helping secure digital assets thanks to its keyless cryptography, Curv’s wallet service is swiftly being adopted by exchanges, OTC desks, lenders, brokers, and traditional asset managers worldwide.

Eliminating the single point of failure introduced by private keys, Curv delivers a mathematically secure way to approve and sign transactions on the blockchain. In addition, Curv has obtained digital asset insurance protection of up to $50 million for its customers from Munich RE and is the first and only Multi-Party Computation (MPC) digital asset wallet solution to achieve SOC2 Type II status.

Bitcoin Association is the global industry organization that supports Bitcoin SV. In its ongoing work to grow the Bitcoin SV ecosystem’s infrastructure, Bitcoin Association sought an additional security provider for BSV that was blockchain agnostic and not limited by certain rule sets, such as the need to support the Pay-to-Script Hash (P2SH) transaction type which has now been sunsetted on Bitcoin SV.

Jimmy Nguyen, Founding President of Bitcoin Association said, “We have secured another partner for the Bitcoin SV ecosystem that ensures BSV institutional users gain multi-signature wallet functionality and can use large-scale applications on top of the Bitcoin SV blockchain, without needing to compromise on security and flexibility. Curv’s protocol-agnostic approach gives institutional users the freedom to expand BSV utility and aligns with the restorations the Bitcoin SV Node team sought to achieve with the recent “Genesis” hard fork that successfully activated on February 4, 2020. We hope that enterprise adoption of BSV will accelerate and Curv’s infrastructure will play a critical role in supporting this scalability and more future business use of BSV.”

Curv’s service is able to support Bitcoin SV for multi-signature transactions even after P2SH is sunsetted given Curv offers users the ability to securely manage and trade all types of digital assets on both ECSDA and EDDSA blockchains. This flexibility is central to Curv’s platform given its patent-pending Multi-party computation (MPC) protocols enable transactions to be securely approved and verified off chain and eliminate the need for private keys.

Curv’s COO Josh Schwartz said, “We’re excited to add BSV to our growing portfolio. Our clients trust us to enable their business and help secure their digital assets. We view it as our obligation to ensure customers have the freedom to hold, trade, and interact with any and all digital assets. They should feel empowered to let the market dictate the assets they choose to support and not be limited by their wallet provider’s capabilities.”

About Curv

Curv is setting a new institutional standard for digital asset security, using revolutionary cryptography to deliver the industry’s first cloud-based Institutional Digital Asset Wallet Service. Curv’s unique, mathematically-secure, keyless platform gives organizations complete protection, instant access, and total autonomy over digital assets.

Curv is headquartered in New York with R&D offices in Tel-Aviv, Israel. For more information, please email [email protected]

About Bitcoin Association

Bitcoin Association is the global industry organization that backs Bitcoin SV (BSV). It brings together merchants, exchanges, application developers, service providers, enterprises, miners and others in the Bitcoin SV ecosystem to advance the growth of Bitcoin commerce. Bitcoin Association supports Bitcoin SV (BSV) as the original Bitcoin, with a stable protocol and scaling roadmap to become the world’s new money and global enterprise blockchain. For more information, email [email protected]

To hear from Bitcoin SV industry leaders, come to the CoinGeek London conference on February 20-21, 2020 at the historic Old Billingsgate venue in London. Visit BitcoinSV.com to learn more about BSV.

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Bitcoin SV Network Completes Historic Genesis Hard Fork

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On February 4, 2020, the Bitcoin SV (BSV) network successfully completed its historic “Genesis” hard fork to bring back Bitcoin’s original design. The update is code-named “Genesis” because it returns the Bitcoin protocol as closely as possible to the original released in 2009 by Bitcoin’s creator Satoshi Nakamoto (aka Dr. Craig S. Wright). Block 620538 was the first block mined after Genesis activated; however, it was block 620539 (mined by TAAL Distributed Information Technologies, Inc.) which confirmed that Genesis rules are valid and pre-Genesis rules are no longer valid on the BSV network. TAAL mined the historic block, as well as others before and after the Genesis activation, “on behalf of Satoshi Nakamoto” to honor the father of Bitcoin.

How does Genesis help massive scaling of the BSV network? The Genesis hard fork removed any arbitrary cap on Bitcoin’s block size and allows the blockchain to grow unbounded for enterprise usage. BSV already consistently has more transactions than the Bitcoin Core (BTC) network, and now can massively scale to levels of the VISA payment network and beyond. Market forces, rather than an arbitrary group of protocol developers, will determine how big BSV scales.

How does Genesis enable developers and businesses to build more? Along Bitcoin’s journey, protocol developers on the BTC chain deviated from Satoshi Nakamoto’s original design and restricted many technical capabilities of Bitcoin to act as more than just a payment system. On BSV, the Genesis hard fork restores many technical functions of the original Bitcoin protocol – such as removing artificial limits on the size and capabilities of transactions, and restoring the full original functionality of Bitcoin Script (the programming language used within the Bitcoin protocol). With these restorations, the BSV blockchain can be more easily used for more than just payment transactions; it also supports a vast array of data, token, smart contract, content delivery, enterprise application, Internet of Things, and other uses. This advances Bitcoin SV’s grand vision to become the world’s data ledger that can power “on-chain” data transactions and digital activity of all types, just like the Internet enabled a world where anything can operate online.

Why is it important to keep the Bitcoin protocol “set in stone”? A stable rule set ensures that a monetary or data transaction performed on the blockchain today will be valid in 2, 5 and 100 years from now. Furthermore, enterprises and developers want a locked protocol before they commit time and resources to build technology applications on top of it, rather than having to constantly change their development process if the base protocol is repeatedly changing. While it may experience software improvements, the Bitcoin SV ecosystem is committed to keeping its basic technical “rule set” now set in stone, as Satoshi Nakamoto always envisioned.

Development growth in the BSV ecosystem has been rapid. There are already 400 known companies, services, developer resources and protocol projects built on or for BSV. Now after the Genesis hard fork, expect that number to rapidly rise as developers and businesses can now build more complex applications on Bitcoin SV, without needing to use other attempted blockchain projects such as Ethereum, EOS or Hyperledger.

Eleven years after its birth, Bitcoin is finally back to what it was always designed to be: a massively scalable and immutable ledger to serve as peer-to-peer electronic cash and the world’s enterprise data ledger. In short, BSV is BitCoin.

Visit BitcoinSV.com to learn more about BSV. If you want a more detailed technical summary of the Genesis hard fork, please deep dive here.

To hear directly from global Bitcoin SV industry leaders, come to the CoinGeek London conference on February 20-21, 2020 at the historic Old Billingsgate venue in London.

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Zigmabit Releases 3 New Crypto Mining Rigs and Leaves the Competition Frantic in Its Wake

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Zigmabit is pleased to announce the official launch of their powerful endothermic cryptocurrency mining rigs with features to take the global crypto mining space by storm. The company uses its tried and tested 7nm ASIC ZigmaBit BoosterX chips in its hardware, coupled with efficient cooling system, tough compact construction and a low operating noise characteristic which make it suitable for installation at home, office or in dedicated datacenters.

ZigmaBit is constantly innovating to bring new, improved mining equipment to the market. Currently, the company’s offering consists of ZigBit range of mining rigs. They are multi-cryptocurrency mining platforms that support operations on Bitcoin, Litecoin, Ethereum and Dash blockchains. There are currently three different products on offer – ZigBit 2.0, ZigBit 3.0 and the latest ZigBit 5.0, all capable of supporting profitable operations on the blockchain of choice.

Hash rate is the most important factor to take into account while choosing a crypto mining rig. In simple words, it can be defined as the speed at which a given mining machine operates. A higher hash rate is always preferred by the miners because it increases their opportunity of finding the next block and receiving the reward. Mentioned below are the hash powers of the three products at a glance.

ZigmaBit is constantly innovating to bring new, improved mining equipment to the market. Currently, the company’s offering consists of ZigBit range of mining rigs. They are multi-cryptocurrency mining platforms that support operations on Bitcoin, Litecoin, Ethereum and Dash blockchains. There are currently three different products on offer – ZigBit 2.0, ZigBit 3.0 and the latest ZigBit 5.0, all capable of supporting profitable operations on the blockchain of choice.

ZigBit 5.0 is ZigmaBit’s current flagship cryptocurrency mining hardware offering designed to make it easier for anyone to set up their own cryptocurrency mining operation. This powerful device ships with all the operational parameters preset, so that users can just connect the hardware to power supply and start mining. The state-of-the-art hardware features direct liquid cooling and a high hash rate power. With a rated power consumption of 2400W, it can generate 2000 TH/s, 300 GH/s, 75 GH/s and 50 GH/s for Bitcoin, Litecoin, Ethereum and Dash respectively.

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Outcompeting Destructive Systems: Odyssey Drives Conversation at Blockchain Central Davos

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Odyssey, the Netherlands-based open innovation program committed to solving complex 21st-century challenges through mass collaboration, will lead the conversation on outcompeting the destructive economic systems at Blockchain Central Davos. The conversation will be hosted by the Global Blockchain Business Council, in Blockchain Central, the premier venue for all things blockchain in Davos.

We live in a world where it still pays financially to be part of a destructive system, so we need to outcompete this model. How do we do it? In Davos, we will be exploring the creation of a new system which would be better for people and nature, and at the same time actually generate more economic value for everyone,” commented Rutger van Zuidam, Founder and CEO of Odyssey.

The conversation will focus on new alternatives to current economic paradigms which prevent society from solving the challenges it currently faces, such as climate change and lack of economic inclusion. Attention will be paid to how technology such as blockchain and Artificial Intelligence can facilitate moving towards better economic conditions for future generations and environmental sustainability.

The panelists:

  • Sanjay Poonen, Chief Operating Officer, Customer Operations, VMware
  • Yuval Rooz, Co-Founder & CEO, Digital Asset
  • Kavita Gupta, Lecturer, Stanford University; Managing Partner, Katapult. AI
  • Rod Beckstrom, Former President & CEO, ICANN; Founder & CEO, BECKSTROM
  • Rutger van Zuidam, Founder & CEO, Odyssey.org

Sanjay Poonen, COO VMware: “We aim to leave ahead a better future – to put back more than we take into the environment, society, and our global economy. It is important that we engineer new systems that provide better economic outcomes and are better for people and the planet. The Odyssey 2020 Track ‘Outcompeting Destructive Systems,’ that VMware is participating in with Digital Asset and DAML, will explore this challenge.”

“The conversation at Davos this week has centered around the need for open, collaborative ecosystems to truly affect change. Odyssey recognizes this, that to outcompete destructive systems we need the right incentives applied to the right technology. Smart contracts enable these collaborative processes to connect stakeholders across industries in ways which weren’t possible before. DAML and VMware Blockchain allow for the type of open collaboration needed to allow anyone to innovate for all of our benefit,” said Yuval Rooz, Co-Founder & CEO, Digital Asset.

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Monerium and Algorand enter partnership to issue e-money on the Algorand protocol

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Monerium, the world’s first authorized provider of licensed e-money for blockchains, and Algorand Inc. (https://www.algorand.com/), the world’s first open source, permissionless, pure proof-of-stake blockchain protocol, announce a non-exclusive partnership to support the Algorand protocol in 2020 with Monerium’s fully programmable and redeemable e-money.

Mainstream adoption of blockchains requires a reliable form of digital cash on-chain. Since receiving its e-money license in June 2019, Monerium has announced several B2B use cases for e-money, including a cross-border transaction in euros. Monerium now supports e-money across the EU, Iceland, Norway and Liechtenstein in US Dollars, Euros, British Pounds, and Icelandic krona.

Algorand recently benefited from a significant upgrade, Algorand 2.0, which includes a number of features that enable sophisticated exchanges such as account quarantine, whitelist models, flexible asset reserve models and more.

“We look forward to supporting the Algorand protocol. Algorand incorporates key features for many mainstream use-cases, including stateless smart contracts and scaleable proof-of-stake consensus. The Algorand leadership has taken a pragmatic and deliberate approach in designing a blockchain for mainstream applications while staying close to the ethos of the open source community” states Sveinn Valfells, co-founder and CEO of Monerium. “Supporting new blockchains with mainstream relevance is a priority for Monerium.”

“Monerium and Algorand have a shared vision for real-world use cases that are enabled by advanced blockchain technology,” said W. Sean Ford, COO of Algorand, Inc. “We are thrilled that Monerium will be bringing their solution for e-money to Algorand and we look forward to our community’s ability to leverage the technology for straightforward regulatory compliance.”

About Algorand
Algorand Inc. built the world’s first open source, permissionless, pure proof-of-stake blockchain protocol for the next generation of financial products. This blockchain, the Algorand protocol, is the brainchild of Turing Award-winning cryptographer Silvio Micali. A technology company dedicated to removing friction from financial exchange, Algorand Inc. is powering the DeFi evolution by enabling the creation and exchange of value, building new financial tools and services, bringing assets on-chain and providing responsible privacy models. For more information, visit www.algorand.com.

About Monerium
Monerium is a financial technology company with the mission of making digital currency accessible, secure, and simple to transact online. Monerium is the first and only company authorized to issue regulated e-money on blockchains. Using e-money issued by Monerium, individuals and businesses can store and send programmable digital currency online without going through traditional financial institutions and payment providers. More information can be found at monerium.com.

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