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Samsung Pay and Finablr Announce Cross-Border Payments Partnership

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Samsung

Finablr PLC, a global platform for payments, and Samsung Electronics America today introduced the Money Transfer feature in Samsung Pay. This new in-app international money transfer service, a first of its kind in the U.S., offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet. The service combines Samsung Pay’s convenience, scale and security with Finablr’s international reach and 40 years of cross-border payment expertise to put mobile payments into the hands of millions of consumers.

Samsung Pay users in the U.S. can use their existing eligible pre-registered debit or credit cards in Samsung Pay to safely and securely send money in most major currencies to their recipients via Finablr’s global network. The service leverages Finablr’s global reach and distribution capabilities, providing a wide choice of payout options tailored to the preferences of the recipient – from bank deposits to cash available for pick up. This partnership marks a significant collaboration between Samsung and Finablr to launch such a service with global scale.

Money Transfer is powered by Finablr group company, Travelex, and offers Samsung Pay customers:

  • Convenience – The service gives users the ability to send money seamlessly to their recipients through a variety of digital and physical payout methods in 47 countries, with just a few taps on their phone. Consumers simply open the Samsung Pay app and the tools are right at their fingertips.
  • Transparency – With this service, all fees and exchange rates are included upfront so users know how much they will pay before securely transferring funds.
  • Security – Finablr’s network of trusted brands, including Travelex, with its 40 years of experience in cross-border payments, and licensed by over 100 regulators globally, bring security, reliability and peace of mind to the Samsung Pay users of this feature, which uses tokenized credentials and is backed by Samsung Knox security.

“Our consumers are global and have friends and family around the world. Samsung is excited to enable users to send money from the US to the rest of world by making it simple, secure and transparent,” said Sang W. Ahn, Vice President & Division Head, Content & Services, Samsung Electronics America. “Money Transfer is a first step in our vision to evolve Samsung Pay into a platform that makes users’ financial lives more convenient. The range of services in Samsung Pay, developed in close collaboration with industry leaders such as Finablr, positions us to positively impact consumers’ everyday financial experiences.”

Promoth Manghat, Group Chief Executive Officer at Finablr, commented, “We are delighted to be partnering with Samsung to launch this new in-app cross-border payments capability. Underpinned by our integrated technology platform, this service demonstrates our ability to drive payments innovation. Combining our industry-leading network and pioneering technology with Samsung’s leadership in the mobile device market, allows us to innovate at a scale that is unique in the US$127 trillion global cross-border payments market. This partnership advances our mission to meet the evolving needs of financial consumers and further strengthens our position as a partner of choice for global payments and technology companies.”

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Altcoins

BitMEX platform now in Trade-mate.io

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BitMEX

Nowadays, the monitoring of all the statistics regarding exchange accounts and the management of all the potential forces that can lead to alterations, crucial data for all the traders, has become more accessible thanks to a well-known platform, called Trade-mate.io.

This platform constitutes the project of a very experienced team with significant contributions in the field of automated systems. In this platform, the traders can carry out exchanges either automatically or manually, and they can use Binance and Poloniex crypto exchanges as well. Other than that, the users can also benefit from the BitMEX trading platform via Trade-made.io, making their life easier.

Trading on BitMEX

BitMEX is a trading platform that provides to his users the ability to participate in the financial market worldwide by using the so-called bitcoins. This platform is the first one where investors are provided with crypto derivatives that give the possibility to execute transactions with a higher profit margin, with leverage up to X100.

Although, because of the emerging technical issues during the implementation of BitMEX via API have prevented many large exchange platforms of adopting it, that didn’t dissuade the Trade-mate.io of integrated it, widening its users’ potentials even more.

Minimizing the risk of loss

Even though the X100 leverage scenario is very attractive to all the traders, the risk of loss must not be overlooked. Even the most experienced traders are not fully protected from such a great risk ratio, as the price of the triggered order is too close to the elimination zone, which can lead to an X100 loss. On the grounds of that, Trade-mate.io has set an X20 limit at the trading leverage to protect its investors from a great loss of their deposits.

Cross-margin

Cross-leverage hides big risks, as it uses all the available funds in an account’s balance to cover an open position. If the price is moving in the right direction, the leverage will be reduced as well as the collateral due to the accumulated profit. Albeit, in the case, that the leverage will escalate, as a consequence, there will be a total loss of the initial funds. In other words, when the position is opened and the order is liquidated, the entire balance will be reset.

Because of its highly risky nature, the cross-leverage is not recommended for risk-averse investors. It may be advisable for risk-neutral users, as it offers the ability to calculate again the size of the leverage, which will vary within acceptable values.

Because of its high-risk nature, the Trade-mate.io does not support cross-leverage.

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Why use Trade-mate.io platform

One of the most important features of the Trade-mate.io platform is the fact that an order is placed with a take profit and stop loss simultaneously and, they can be altered either automatically or manually, providing to the investor with the opportunity to make Smart Trade functions.

A Smart Trading process consists of two types of orders, the limit order, and the market order. In the first case, an order is placed at the price of interest and when it riches the specified level, the order is activated. In this case, the order is pending. In the case of the market order, the purchase or the sale of an instant market asset is made at that moment.

Trailing mode

The trailing mode is a Smart Trade’s function that rearranges the orders based on the specified parameters, allowing the trader to minimize the risk and to increase his profits. Trailing mode consists of three orders:

1. Trailing take profit

In this case, the order parameters change the value of floating take profit and the default setting is 1%. As the price attains the level of the determined take profit, the take profit is being automatically moved to the set value until the price is no longer changing.

2. Trailing stop loss

The difference with taking profit is that, in this case, instead of taking profit, the taking loss is the one that is moved as the price increases and it remains stable when the price is decreased.

3. Trailing ladder

Here, as soon as an order is opened, the take profit and stop loss are triggered concurrently. In more detail, when the price approaches the first level of taking profit, the stop loss is moved to the break-even point. This will continue until the price crosses the stop loss line and the sell is activated.

It should be emphasized that this mode is not included in the BitMEX platform or any other crypto exchange.

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Edit a task

In the trade-mate.io platform, the traders are also able to edit the current task without canceling it, unlike with other crypto exchange users where the users are obliged to cancel the old task in order to create a new one.

In the Trade-mate platform, the task can be edited before the order is been activated. The traders are able to cancel the task, to change it in case they want to sell cryptocurrency when the price has reached desirable levels or to average it. By this can be benefit traders dealing with leverage, as once they have created an order, they are able to edit it in the meantime, making the whole process more simple.

Last but not least, in this platform, the traders possess the ability to change even the control panel and to make it comfortable for them to use it. They can move the elements in the control panel and adjust them at the most convenient for them positions by just dragging them around the screen.

Copy on BitMEX

BitMEX gives the opportunity to its traders to copy trades from other trades, the so-called auto trading. In addition, traders who execute successful trading on the crypto market, they receive incomes from the subscribers. That’s why Trate-mate.io selects only the traders with the highest ratings in order to guide others. Again, for the safety of its users, the leverage for auto trading will be no more than X5. In this way, liquidating balances are prevented.

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Business

Binance Lists NGN, Offers Zero Fee Promo for Deposits

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Binance

Binance has opened deposits for the Nigerian Naira (NGN) through Flutterwave. We have also added trading pairs BUSD/NGN, BNB/NGN, and BTC/NGN to the Stablecoin Market (USDⓈ) as of October 24, 2019, 12:30  UTC. Users can now start depositing NGN and using it to buy BUSD, BNB, and BTC.

Promo: Enjoy Zero Fees on NGN Deposits

To celebrate the first fiat currency listing on Binance, all newly registered users who deposit NGN to Binance through Flutterwave will enjoy zero fees for deposits up to 36,000 NGN starting October 24, 2019.

Binance has committed a total of 10,000 USD worth of NGN to give to our newly registered users worldwide. Rewards will be distributed on the following day based on the first-come-first-served manner.

Note:

  • NGN is the legal tender of the Federal Republic of Nigeria. NGN is the currency code, not the digital currency code.
  • NGN deposits fees are set at 1.4%. The maximum deposit amount per transaction is 430,000 NGN, while the minimum deposit amount per transaction is 150 NGN.
  • Rewards will be distributed the day after you made your deposit, before 7:00 AM UTC. You can check your prize by going to Distribution History > Wallet > Account Center.
  • The exchange rate between USD and NGN will be based on the intermediate exchange rate.
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Technologies

Bitmain announces two new Antminer 17 series miners at World Digital Mining Summit

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Bitmain

Jihan Wu, Co-founder of Bitmain, announced two cryptocurrency mining models – S17+ and T17+ – from the Antminer 17 series at the World Digital Mining Summit (WDMS) in Frankfurt today.

Both new miners will come with improvements to power efficiency and hashrate. The Antminer S17+ has a hash rate of 73 TH/s and operates with a power efficiency of 40 J/TH + 10%, while the T17+ offers a hash rate of 64 TH/s and a power efficiency of 50 J/TH + 10%.

“Our new Antminers are at the forefront of mining innovation. They each represent the future of its rig design and power efficiency. We remain committed to our research and development capabilities and will continue to improve our devices,” said Mr. Wu at the WDMS.

By using dual tube heat dissipation technology, the miners have been designed so that the space between the air inlet to the air outlet has been reduced by 50%, improving heat dissipation effectively as well as reducing fan noise. Besides, a high temperature and fan abnormal protection mechanism has been built in to ensure the stable and safe operation of the miners.

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Both Antminer S17+ and T17+ use the industry leading Exposed Die package solution and an optimized all-in-one design, making the models easily to be implemented and can adapt to mining farms of different sizes.

The Antminer S17+ and T17+ ​will be available for sale on Bitmain’s official website according to the following timing:

Selling Time: 11 October 2019, 19:00 GMT+8

Delivery Time: 01- 10 December 2019

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Altcoins

Cryptocurrency confirmed by the only stable resource on the planet – ERTC

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Each of us is familiar with the phenomenon of cryptocurrencies – someone was mining, someone is earning on a change of course, sellers and a buyer, someone is investing their money and now sits on Corvalola, In all cases when no one uses cryptocurrencies to store all their savings. It is all about high volatility and their extreme instability – it is impossible to accurately predict the course, which can change the order in a short time.

At the same time, cryptocurrencies have all the advantages compared to financial money – additional security, low transaction fees, transfer speed, transparency, reliability and independence from external financial institutions. All this is done in accordance with the format of financial relations, which continues to develop dynamically.

Solutions to problems related to the voluntariness and reliability of the contribution to steel – and cryptocurrencies with a stable exchange rate.

Which resource is the most stable? The most sought after and reliable. Which resource is the patron of all existing resources? The situation and other factors affect the dependence on cataclysms. – This is the land. The Genesis 2.0 group of companies has developed the ERTC platform, which includes:

  • ERTCoin – stablecoin, confirmed by legal ownership of land
  • Private ERTC blockchain in which any device can be a mobile node
  • SmartWallet – an electronic wallet on which ERTCoin and other currencies are stored, all transactions and purchases / sales are also carried out
  • ERTCoin with legal confirmation of ownership
  • The electronic payment system, which provides mobile communications, provides new opportunities and opportunities for paying for goods and services, converting, saving funds and transactions from anywhere in the world.

The issue takes place on the ERTC platform thanks to the Validation process – the procedural verification of land ownership must be confirmed.

Validation takes place in four stages:

  • The user uploads a pool of documents confirming his ownership.
  • The legal service and AI verify the authenticity of documents and request data in specialized services.
  • ERTCoin according to the number of square meters of land
  • The user receives half of the issued ERTC in their electronic wallet

Conference participants from 13 countries have already registered more than a million ERTC platforms.

Today, the ERTC team completed the first two stages and has already begun to conclude the third stage – the development of a full-cycle electronic payment system for individuals and legal entities. lack of.

The possibilities of EPS are not limited when purchasing goods, services, geography of participants, jurisdiction and economy, are not determined by geopolitical factors and are dependent on the right field and legal requirements.

A personal online bank, a private block bank with a unique technological mobile network, all these requirements make it possible to confidently assume that the electronic payment system ERTC is a promising medium-term financial one.

The ERTC project represents full-fledged opportunities for interaction with other states – “money”, in which virtually any individuals and legal entities are used — using an electronic payment system. cost of commission, convenient and affordable.

ERTC erases the geographical boundary and makes financial interaction of any level safe and comfortable.

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Blockchain

SoFi Introduces Crypto Trading With SoFi Invest

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SoFi

SoFi announced today that it has added crypto trading to its fast-growing SoFi Invest platform, as a response to demand from its over 800,000 members. SoFi Invest is now the first platform to offer automated and active investing with stocks, ETFs, and crypto through a single app.

Individuals can easily buy and sell several cryptocurrencies with straightforward, competitive commissions and no account minimums, as well as track the price movements of the world’s most widely-traded digital assets, with more cryptocurrencies to be added in the coming months. SoFi secures all crypto holdings from fraud and theft.

“Feedback from our members has made it clear that a significant percentage are not only interested in learning more about cryptocurrencies but are also already buying and selling crypto,” said SoFi CEO Anthony Noto. “We’re very pleased to be adding this new product to SoFi Invest, as access, education, and keeping costs low for our members is at the heart of what we do.”

SoFi Invest, released to the public earlier this year, offers both automated (robo-advising) and active investing (trading) with no fees on stock trading or account minimums. The launch of crypto trading comes on the heels of SoFi’s introduction of its own SoFi-branded ETFs this Spring, which included the first two zero-fee ETFs on the market, as well as Stock Bits: the ability to buy and sell fractional shares in over 100 popular stocks and ETFs ranging from Apple and Amazon, to Alphabet and Tesla*.

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Blockchain

PrimeXBT Expands Referral Program and Launches First Offer for Affiliate Partners

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PrimeXBT

PrimeXBT, a bitcoin-based margin trading platform offering up to 500x on crypto, commodities, indices, and forex currencies, has announced an expansion of its wildly successful referral program and the launch of the first-ever offer for affiliate program partners.

Affiliate Programs Invite Clients To Be A Part Of Something Big

Clients interested in earning additional income through PrimeXBT beyond just trading alone will have two lucrative options to choose from: a new CPA offer, or an expanded 4-level referral program.

Both types of programs have unique benefits that are designed to suit a variety of trader’s needs, offering quick payouts and extremely high conversion rates due to the simplicity of signing up to PrimeXBT and the platform’s reputation for offering the most advanced tools in the market. PrimeXBT requires no KYC verification, making registration fast and simple.

Either program is ideal for professional traders, bloggers, and more, or the owners of private groups, websites, forums, or other resources. The larger the following or audience, the more income can be generated. Social media influencers or bloggers with over 5K or more active subscribers may be eligible for a special, tailor-made program custom to suit their unique individual needs.

Expansion of Referral Program Following Viral Success

PrimeXBT’s referral program has become a viral sensation, fueling the incredible growth of the trading platform’s user base, and is now expanding to offer clients even greater earning potential.

The referral program is a 4-level revenue share model. This means that clients will not only earn a 50% revenue share of the monthly trading fees generated by referred users but will continue to earn a portion of the fees from any additional customers the referral brings to the platform – for up to 4 levels of earning.

PrimeXBT Debuts Affiliate Program First CPA Offer

PrimeXBT’s CPA offer awards clients with a one-time compensation for each and every individual trader who becomes a registered customer through a shared referral link.

Rather than relying on generating income from trading fees from referred users, traders who select this option can earn a consistent fee, growing their income with each new customer signup.

The most experienced affiliates may be eligible for a special CPA plus rev-share program, offering the best of both worlds, and are encouraged to inquire if interested.

Top 3 PrimeXBT Affiliates Have Earned Over 100 BTC Combined

Proving the runaway success of the PrimeXBT referral program, the three top referrers have earned 49 BTC, 33 BTC, and 26 BTC respectively. That amounts to over 100 BTC across just the top three accounts, or over $1 million generated in additional income through a rev share of referred customer’s trading fees.

The more new customers these traders referred, the faster and higher they were able to drive up their earnings.

Trading Platform Rewards Clients Who Refer New Customers

Clients can access an affiliate dashboard within their PrimeXBT account that provides transparent reporting on all referred users and payouts, and download a helpful marketing kit. The affiliate dashboard also allows for easy access to a client’s affiliate link and will soon include buttons to easily share affiliate links via social media, right from within the dashboard itself.

Payouts are among the fastest in the industry and can be made through Skrill, Mastercard, Visa, Neteller, or through wire transfer.

A PrimeXBT official spoke of the expansion of the platform’s affiliate programs, explaining that “PrimeXBT clients have helped drive the tremendous growth of the platform throughout the year, and we have expanded our affiliate programs as a way to share in our success and reward them for their loyalty.” “PrimeXBT is a product customers can proudly recommend to others, helping them to become profitable traders using the platform’s advanced trading tools to trade a number of digital or traditional assets,” they continued.

More information on PrimeXBT’s CPA affiliate program and 4-level referral program can be found at https://primexbt.com/affiliate.

About PrimeXBT

PrimeXBT is a fintech company established in 2018 which offers a Cryptocurrency, FX, Indices and Commodities trading infrastructure with up to 500x leverage for long and short positions, and aggregated liquidity from multiple liquidity providers. The company provides access to real-time market data and a wide range of trading analysis tools while maintaining security, liquidity, and enabling a safe and efficient trading environment for everyone.

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Blockchain

Facebook’s Libra seeks Swiss payment system license

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Libra

Facebook’s Libra cryptocurrency project is seeking a Swiss payment system license, financial watchdog FINMA said on Wednesday, noting the breadth of the planned services would require broad oversight. The world’s largest social media network announced plans in June to launch a cryptocurrency as it seeks to expand beyond social networking and move into e-commerce and global payments, though the plans have drawn intense scrutiny from global financial officials.

“Due to the issuance of Libra payment tokens, the services planned by the Libra project would clearly go beyond those of a pure payment system, FINMA said, noting this mean it would be subject to such additional requirements.

These would extend to capital allocation for credit, market and operational risks, risk concentration and liquidity, and the management of the Libra reserve, it said. “We are engaging in constructive dialogue with FINMA and we see a feasible pathway for an open-source blockchain network to become a regulated, low-friction, high-security payment system,” the Geneva-based Libra Association said.

It has asked FINMA to clarify the status of the association and the Libra coin under Swiss supervisory law, the regulatory said. [bit.ly/2kEP7bk]

U.S. Under Secretary of Terrorism and Financial Intelligence Sigal Mandelker told reporters in the Swiss capital on Tuesday that cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing if it is to get off the ground.

“Whether it’s bitcoin, Ethereum, Libra, our message is the same to all of these companies: anti-money laundering and combating the financing of terrorism has to be built into your design from the get-go,” Mandelker said.

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Business

ArBinance Makes Arbitrage Trading Easier

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ArBinance

ArBinance is a cryptocurrency arbitrage platform. It allows traders to benefit from the difference in price value between cryptocurrency markets.

The platform, which deals with over 100 cryptocurrency exchanges, aims to make arbitrage trading easier for professional and novice traders alike. The trading platform uses its specially designed software that is both highly functional and easy to use for traders.

Seeing that arbitrage is not only about finding beneficial trades but making them promptly, ArBinance’s software is built with efficiency in mind. The platform’s application instantly identifies profitable trade opportunities and acts upon them just as swiftly. This process makes sure that individual traders could benefit from market events within seconds of their initiation.

ArBinance is Allowing Users to Take Fair Advantage of Arbitrage

Arbitrage trading refers to the practice of benefiting from the difference in price value between various markets. When traders spot this price difference, they buy the asset from the lower-cost market and sell it in a place where it is at a higher price.

This difference is simply a fraction of the total price of the asset. As such, buying and selling it in a single transaction does not bring in massive profits. But when this price difference is spotted, and essential purchases or sales are made a few times a day, it could bring in astounding results. That’s one of the many reasons why arbitrage trading is so prevalent in conventional markets.

As the cryptocurrency market grows with more and more exchanges, arbitrage trading has also started to gain significant traction within the sector. More exchanges mean more opportunities to spot pricing differences, which translates to higher profitability.

Traders must be their best at all times to determine the price difference between hundreds of exchanges. Since no one can keep up with an avalanche of trades, traders are not able to gain full advantage of arbitrage trading even if they want to do so.

That is where automated solutions such as ArBinance come in.

ArBinance Offers Targeted Arbitrage Solutions

To help traders make the most out of arbitrage trading, ArBiance has designed an intuitive interface. The application is easy to use and boasts of a few significant functions, such as the ability to perform automated arbitrage trading. Trades are possible even when users are away from their computer screens.

ArBinance works round the clock and lets its users take advantage of 24/7 arbitrage to make sure that they never miss out on potential gains. The automated platform has been designed to spot price differences in over 100 hundred cryptocurrency exchanges and make trades instantly. This way, traders can benefit from relevant opportunities without manual tracking of prices or execution of trades.

ArBinance provides its arbitrage solutions through its website, where interested traders could sign up to use its services. To learn more about ArBinance and its offered trading solutions, head to ArBinance.com today.

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Technologies

15 Chinese Arrested for Bribing Internet Café Administrators to Mine Crypto

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Mine Crypto

Police in Henyang, a city of south-central China’s Hunan Province, has arrested fifteen men suspected of stealing electricity from Internet café to mine cryptocurrencies, according to a report by local media. During the past four months from June 2017 to July 2019, the cryptocurrencies they stole had been sold amounting to over hundred million yuan (over $20 million). Besides, 9000 computer administrators are involved in helping mine crypto.

Local police received a clue showing that many local Internet cafes were illegally remotely controlled for crypto mining. Many computers in local Internet cafes run so slow that some even burn out hardware. After confirming the clues, the police immediately analyzed the data, extracted the illegal procedures implanted into computers. The preliminary investigation found that the Trojan horse program developer is a network technology company in Zhengzhou, and the company’s head surnamed Zhang.

The company’s platform is ostensibly just providing advertising and value-added business, but in fact, it is engaged in crypto mining business. The accused will recommend crypto mining business in private to Internet Cafe administrators or Internet Cafe maintenance companies.

The accused Zhang bribed Internet Cafe administrators under the guise of contacting business, asking them to implant the “mining” program into the computer of the Internet Cafes while maintaining the Internet Cafe system, so as to control it remotely. After acquiring cryptocurrency, the accused converted it to RMB through a third-party platform.

From June 2017 to July 2019, Zhang has developed more than 9,000 Internet Cafe administrators across the country to act as offline agents, giving an average monthly commission reaching 20 million yuan.

Now All the 15 suspects have been arrested and the investigation is still ongoing. Stealing electricity to fund mining operations is not new in China. In November 2018, two middle school principals in Hunan Province were caught and punished by using the school’s IT network to mine Ether. In June 2019, a man was caught stealing electricity from an oil well to mine bitcoin; earlier in May, a 61-year-old grandmother was sentenced to four months in jail for stealing electricity while mining bitcoin.

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Business

Alibaba, Tencent, Five Others To Receive First Chinese Government Cryptocurrency

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STO

China’s central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months, according to a former employee of one of the institutions who is now an independent researcher. Paul Schulte, who worked as global head of financial strategy for China Construction Bank until 2012, says the largest bank in the world, the Industrial and Commercial Bank of China, the second largest bank in the world, his former employer, the Bank of China, the Agricultural Bank of China; two of China’s largest financial technology companies, Alibaba and Tencent; and Union Pay, an association of Chinese banks, will receive the cryptocurrency.

A separate source, who’s involved in the development of the cryptocurrency, dubbed DC/EP (Digital Currency/Electronic Payments), confirmed that the seven institutions would be receiving the new asset when it launches, adding that an eighth institution could also be among the first tier of recipients. The source declined to provide the name of the additional company. Speaking under terms of anonymity, the source, who previously worked for the Chinese government, confirmed that the technology behind the cryptocurrency has been ready since last year and that the cryptocurrency could launch as soon as November 11, China’s busiest shopping day, known as Singles Day.

At the time of launch, the recipient institutions will then be responsible for dispersing the cryptocurrency to 1.3 billion Chinese citizens and others doing business in the renminbi, China’s fiat currency, according to the source. The source added that the central bank hopes the currency will eventually be made available to spenders in the United States and elsewhere through relationships with correspondent banks in the West. “That’s the plan, but that won’t happen right away,” the source said.

The plan to use a diverse set of China’s trusted institutions to disperse the cryptocurrency is reminiscent of a number of other ideas currently percolating around the world. For instance, Facebook’s planned libra cryptocurrency will be backed by a basket of currencies issued by central banks with support from companies like Mastercard and Uber in the United States, Vodaphone in England and Mercado Pago in Argentina. And last week, Bank of England governor Mark Carney floated the idea of a new currency backed by a number of central banks to replace the U.S. dollar as the global reserve currency.

What sets China’s DC/EP apart from libra and Carney’s “synthetic hegemonic currency” (SHC), according to Shulte, is that while libra is little more than early-stage computer code and the SHC doesn’t appear to have gone much further than Carney’s mind, the Chinese cryptocurrency is ready to launch. “China is barreling forward on reforms and rolling out the cryptocurrency,” says Schulte, who now runs an eponymous bank research firm. “It will be the first central bank to do so.”

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