So far this year, crypto mania–as it’s often called by traditional news sources–has continued to grip the masses as the prospects of blockchain technology become increasingly exciting. Some pundits called for a slowdown in ICOs this year, but nothing has been further from the truth. According to CoinSchedule data, ICOs have already raised 2.95 billion USD in 2018. This is a little more than three-quarters of the astounding 3.88 billion USD raised in 2017. If this incredible growth keeps up, 10 billion USD by year’s end is more than plausible.
ICOs have been surprisingly resilient to perhaps their biggest threat thus far–government regulation. China, the most notable opponent of cryptocurrencies and ICOs, is stepping up their game by using their state media arm to take aim at crypto trading and ICOs. A February report by the Xinhua News Agency detailed how crypto trading platforms domiciled outside of mainland China, but still open to Chinese investors, should be considered as attempts to bypass existing laws and regulations. These and other actions demonstrate just how serious China is about cutting out all crypto trading and ICO participation.
Cryptocurrencies and ICOs aren’t receiving much love from the West either. The US government, also a strong opponent of the new trend, is taking a more defensive stance against crypto trading and capital raising. The SEC claims to be a fan of blockchain technology, but also comments ICOs “bring an increased risk of fraud and manipulation because the markets for these assets are less regulated than traditional capital markets.” The SEC wants to use its favorite–and only tool to reign them in, namely regulation. It has also targeted online trading platforms in an attempt to deter crypto trading. Unfortunately, this stance is being picked up by several of America’s leading tech firms, including Facebook and now Google, who have both banned all crypto-related advertising from their platforms.
There is one country, however, that is a beacon of light in a seemingly dark regulatory environment. The Australian Securities and Investments Commission, or ASIC, takes a relatively more upbeat stance on ICOs and cryptocurrencies. In their ICO information sheet INFO 225, the agency notes, “ICOs have the potential to make an important contribution to the options available to businesses to raise funds and to investment options available to investors.”
An Accommodative Regulatory Environment Fosters Ingenuity
Hopefully other countries will follow suit and recognize, like ASIC, that ICOs and cryptocurrencies can benefit the general public. This stance has led to a boom in Australian ICOs. Game Tester, for example, is using an ICO to fund the creation of the GT Coin, which will be used by gamers as a global gaming token. The accommodating regulatory environment has also encouraged existing businesses like CanYa to implement blockchain solutions. CanYa, which hosts a marketplace for services, is looking to use blockchain technology to decentralize their platform, lowering costs for end users and raising margins for service providers.
Another company, Invox Finance will host an ICO to create a decentralized, peer-to-peer invoice lending platform. In contrast to traditional invoice financing, where the party purchasing an invoice and advancing the funds doesn’t have a direct relationship with their counterpart, the Invox Finance platform directly connects buyers, sellers, investors, and service providers. In doing so, Invox greatly reduces investor risk and instills a level of trust and transparency previously unattainable.
One of the main advantages of the Invox Finance platform is that it stems from an already successful Australian business, ABR Finance. ABR Finance, from whom Invox’s co-founders hail, was started in 2012 and offers loans to small businesses ranging from $10,000 up to $300,000. By drawing on the many years of experience running and managing ABR Finance, Invox’s founders want to harness the power of blockchain technology to revolutionize the outdated invoicing model and facilitate a worldwide, distributed, and peer-to-peer invoice financing network.
Game Tester, CanYa, and Invox Finance are but a small sample of the many blockchain companies that are thriving under Australia’s crypto economy. Because regulatory bodies are open to change and accommodative with their regulatory policy, companies are free to come up with ingenuitive blockchain powered solutions. In other words, Australia’s crypto scene just keeps getting better and better.
Antier Solutions processes a 100 million USD worth of transactions on Blockchain MLM Platforms
As blockchain continues to be harnessed by various organizations – both in the financial market and across other industry verticals – the focus remains on how the technology is transforming business operations. After revamping multiple enterprises, Blockchain has found a new alliance with MLM and the results are impressive. India’s Antier Solutions has processed transactions worth a 100 million USD across all its Blockchain based MLM platforms.
At the core of blockchain technology is a “shared distributed ledger” where the data and transactions are recorded. This distributed ledger is accessible to everyone on the network, thereby promoting transparency. Blockchain acts as a new type of database system that allows multiple parties to share access to the same data, at virtually the same time, enabling an unprecedented level of confidence. Furthermore, this technology has the potential to automate and accelerate business processes by using smart contracts that make the third party functions redundant.
Although almost every industry is ripe for blockchain adoption, one area that holds significant potential for blockchain implementation is the MLM (Multi-level Marketing) industry.
MLM has long been a mainstay for start-ups and companies to promote their products globally while cutting down the marketing costs. A few examples of successful companies that have capitalized on the potential of MLM include Amway, Market America, and Avon Products Inc.
“However, the traditional MLM process is beset with inefficiencies such as centralized control over the system, lack of trust and transparency, and delayed payments to release users’ incentives – which can hold back even the best of MLM projects.
Blockchain brings solutions to these pain points, empowering the MLM industry to position itself as a reliable market. Blockchain eliminates the involvement of a central authority and brings everything on a distributed ledger to enable transparency. The smart contract automates and expedites the MLM process and drives peer-to-peer transactions. Furthermore, smart contract integration contributes to immutability. It prevents any change in the MLM business plan once the smart contract has been deployed on the blockchain, thereby building people’s confidence in the system.
These benefits have fueled the popularity and acceptance of blockchain MLM software among businesses and participants. While start-ups and companies are readily launching smart-contract-based MLM platforms, users are confidently investing in these platforms being sure of a transparent process and secure, instant payouts.
Antier Solutions, a digital assets management solutions providing company, is helping businesses to launch their MLM smart contract platforms. Equipped with a team of 100+ blockchain developers and subject matter experts, 15+ years of rich technical experience, and breadth of expertise, Antier Solutions has helped over 100 companies to launch their MLM platforms on blockchain like TRON, Ethereum, and Bitcoin.
“Blockchain is serving as a catalyst to drive a profound, positive change in the billion-dollar MLM industry and Antier Solutions is working to initiate that change. As businesses navigate towards blockchain and cryptocurrency MLM software, we will continue orchestrating our solutions to help businesses ride the next wave of multi-level marketing”, said Devender Junas, the Product Head of Antier Solutions.
About Antier Solutions
Antier Solutions is a global digital assets management solutions providing company helping businesses transit from conventional technology platforms to blockchain-driven systems. Antier, with its deep domain knowledge and rich experience, has created a well-rounded ecosystem of solutions to help businesses launch their digital assets trading platforms, lending platforms, banks, and more.
South Korea’s Hancom Group to Participate at the All Digital CES 2021
Hancom Group, a leader in creating game-changing technology ecosystems has announced that it will participate in the All Digital CES 2021 held from Jan. 11 to 14. The company will present its visions for making the world Smarter, Safer and Freer through pioneering future innovation for an ever-evolving tech industry.
Hancom, like the other highly recognized South Korean market leaders, will share with the industry how it uniquely envisions Mobility, Robotics, Smart City, AI and Blockchain.
Products which Hancom will introduce at All Digital CES 2021:
- Hancom Works – Hancom Works is supporting digital transformation of your organization by enabling all-in-one remote workspaces environment on top of self-hosted data center or Cloud infrastructure such as AWS.
- Hancom Office – Hancom Office is core productivity applications for your work, study and collaboration.
- Toki H2 : AI Home Robot – Toki is a friendly home robot used for sharing customized conversations between family members and engaging in daily life with kids based on facial recognition technology and useful educational contents.
- AI Image Processing Service – Hancom InSpace collects, classifies and analyzes video images captured from satellites, land earth stations and drones.
- Digital Gold Blockchain – Digital Gold Blockchain is a new gold transaction platform creates new gold business with gold, cutting-edge technology, art and finance combined.
- NeoIDM : AI IoT Platform – NeoIDM is a platform that provides an integrated management infrastructure that can flexibly manage via various sensors, IoT and edge devices.
- Hancom Mobile and Digital Forensics – Complete mobile and digital forensic products for data extraction and analysis supporting various types of mobile and digital devices.
- Hancom AI Check 25 : AI Call Center Solution – Hancom AI Check 25 monitors self-quarantined people using AI-bot and assists in monitoring health conditions and information delivery.
- Hancom Genie K : AI Tutor for Korean Language – Hancom Genie K, AI tutor for Korean language, is a 1:1 Korean speaking practice application that allows anyone who wants to learn Korean to practice speaking anytime, anywhere.
- GenieTalk Go!2 : AI Mobile Translator – AI interpreter supporting 65 Languages. GenieTalk Go!2 can be used in offices and fields where various languages are spoken, overseas business trips and overseas travel.
- Parking Friends : IoT Parking Sharing Service – Parking Friends is an IoT Shared Parking service, which provides real-time parking information using IoT sensor. It can check the status of parking spaces and solve the parking.
“As South Korea’s leading ICT convergence company, we look forward to sharing at CES how Hancom will contribute to make the world Smarter, Safer and Freer. Please join us via our online conference, too.” said Dr. Peter Wonsok Yun, President of Global Business, Hancom Group.
TaxBit Secures Investments from PayPal Ventures and Coinbase Ventures; Winklevoss Capital Doubles Down
TaxBit, which offers cryptocurrency tax automation software targeted for crypto users, exchanges, and merchants, is excited to announce new investments from PayPal Ventures, Coinbase Ventures, and existing investor, Winklevoss Capital. These new investments from major fintech companies reinforce the importance of tailored software solutions, like TaxBit, in driving widespread cryptocurrency adoption. TaxBit solutions automate all aspects of cryptocurrency tax compliance for consumers, businesses, and exchanges. TaxBit Enterprise and TaxBit Consumer continue to transform the cumbersome experience of calculating and reporting taxes on cryptocurrency transactions.
“We want to thank our customers, partners, and investors for helping us move the cryptocurrency space forward, ” said Austin Woodward, CEO and Founder of TaxBit and Certified Public Accountant. “This investment will help us achieve our aim of being the most innovative and trustworthy provider of cryptocurrency tax technology.”
TaxBit was founded by CPAs, tax attorneys, and software developers in order to enable widespread cryptocurrency adoption by automating the regulatory hurdle of tax compliance. TaxBit’s software is used by thousands of everyday crypto users, in addition to crypto exchanges and merchants with regards to their 1099 and enterprise reporting requirements. TaxBit is located in Salt Lake City, UT.
DeNations, a Blockchain-Powered Metaverse, Launches the First INO
Smatoos, which is already known in the blockchain industry as a token economy platform, has released the blockchain-based metaverse, DeNations. DeNations is a blockchain-powered decentralized metaverse, where anyone can manage nations, cities, and civilizations. Metaverse is a combination of ‘meta’, which means ‘beyond’, and ‘universe’, which means a virtual space that interacts with the real world, where people can engage in economic, cultural, and social activities. Currently, in the blockchain industry, services that gamify a metaverse such as Decentraland and Roblox have already been released. Unlike other services, DeNations closely connected the real world with the metaverse, and was designed to create profits while playing games.
DeNations’ users own nations and can build cities and civilizations. Users can make money from taxes and token farming by developing nations, cities, and civilizations. Nations, cities, and civilizations are issued with Ethereum Non-Fungible Token (NFT) cards, proving their authenticity and ownership, even outside the game. NFT card holders develop nations, cities, and civilizations in DeNations and earn tokens and profits. Various national policies are determined by the Quadratic Voting proposed in the book by Eric Posner & Glen Weyl. DeNations develops nations, cities, and civilizations in the direction NFT card owners are aiming.
Currently, 5 NFT cards for France, Japan, India, Italy, and the Republic of Korea are already on sale at Opensea. Each Nation NFT card is issued in limited quantities and is sold at a 50% discount during the first week of release only.
“Individuals in the real world cannot build and manage nations, cities, and civilizations,” said Justin Jang, VP of DeNations. “All of that’s possible in DeNations,” he said. “The time has come for anyone to own, manage nations and cities, and as a result, make the profit they dream of in the metaverse.”
DeNations aims to become a leader among blockchain-powered metaverses. It is expected that it will not only contribute to relevant ecosystems within the blockchain-based metaverse but also have a positive impact on the real world as a national management simulation game because users can experiment with and experience political and economic systems in DeNations.
Constreet Partners and ECXX announce strategic partnership in asset tokenization, digitized securities and STO areas
Coinstreet Partners (“Coinstreet”), an award-winning AI-powered global decentralized investment banking group, and ECXX, a regulated blockchain-based digital securities exchange in Singapore, have entered into a strategic partnership to bring in end-to-end services to security token offering (“STO”) and secondary trading of digitized securities to institutional and accredited non-individual investors in the Singapore market.
The Coinstreet investment banking group has strategic investments and deep collaborations with licensed broker dealers in international financial centers including USA, United Kingdom, Germany, UAE, Hong Kong, Japan, Korea, Malaysia. They recently launched TADS Awards, the world’s first international award for Tokenized Assets and Digitized Securities sectors (www.TADSawards.org).
ECXX operates a STO exchange (ecxx.co), that is integrated with MyInfo, the one-stop Singapore government identity platform. In addition being admitted as a Recognised Market Operator (RMO) by the Monetary Authority of Singapore (MAS) to the Fintech Sandbox under the Recognised Market Operator (RMO) regime, ECXX has also applied for a license under the Payment Services Act and once approved, it will be the first exchange in Singapore to offer both digital payment tokens and digital securities under two different platforms.
Samson Lee, CEO and Founder of Coinstreet Partners said:
“Coinstreet has been focusing on structuring and primary market of digital assets in the international market. ECXX’s vision is to be the world’s leading digital asset exchange delivering trustable and secured digital asset trading services. We are very pleased to establish a strategic partnership with ECXX. It can allow us to vertically integrated our primary market services with regulated secondary trading venue in Singapore, which is a very important market for us.”
Branson Lee, CEO of ECXX said :
“We see the digital assets space gaining massive traction and importance over the next few years. Our partnership with Coinstreet will be an important one as this space takes on a more globalised nature.”
Terry Tan, Listing Director of ECXX said :
“Working together with Coinstreet Partners allows ECXX to reach out to more global companies who are keen to tokenize their assets and list their tokens on a regulated digital exchange in Singapore. The strategic collaboration will be a win-win situation for both Coinstreet Partners and ECXX.”
According to a survey from the World Economic Forum, around 10% of global GDP will be tokenized and stored on Blockchain by 2027. Coinstreet serves clients with tokenization needs ranging from stablecoins, real estate, financial services, technology, biotech, healthcare, telecommunications, energy, manufacturing, hotel, hospitality, lifestyle, gaming, media and entertainment sectors. Significant growth in the number of high-quality STO projects and global expansion of investor communities is expected, as the adaptation of this new corporate finance model gains popularity globally.
Huobi Inno Labs Invests 5 Million USDT Fund to Support Polkadot Ecosystem
On December 8th, Huobi Inno Labs announced a 5 million USDT investment to the Polkadot Ecosystem Support Fund to promote the development of the Ecosystem and support projects and individuals financially in their contribution promoting the prosperity of the Polkadot ecosystem.
The fund will focus on sponsoring technology development, ecological project development, community and operation promotion activities. Developers, activity initiators, content creators, Polkadot ambassadors and any other individuals and organizations who have plans to contribute to the Polkadot ecosystem can apply for sponsorship through the official email ([email protected]).
With the launch of the Polkadot Mainnet, the crypto market is witnessing a growing participation in this technology, with more than 300 eco-projects currently developing projects on Polkadot. According to statistics, 2019 has seen a significant development project increase of 44% in the Polkadot network, making it one of the most active blockchain ecosystems.
Based on the great potential of the Polkadot ecosystem, Huobi Inno Labs believes that the cross-chain protocol represented by the Polkadot provides a new distributed network solution for the implementation of Web 3.0, brings more innovation opportunities to developers, and is a significant practice for Web 3.0.
“We believe that funds like this are vital to the on-going growth of the blockchain space and are happy to be a part of it. Growing the space is always going to be a team effort, and a decentralized one, so providing funding and support to developers, initiators and creators means we can keep moving forward,” according to a spokesperson of Huobi Inno Labs.
In order to support the better development of the Polkadot ecosystem on a global scale, Huobi Inno Labs will focus on sponsoring the following key areas.
1) Technical: technical workshops, project development;
2) Events: offline and online events, Meetups, hackathon, etc.;
3) Content creation: graphics, texts, videos, etc., in any form, as well as Polkadot vertical media networks;
4) Projects linking to Polkadot Treasury, Kusama Treasury that has major contribution to Polkadot Ecology.
Fund application email: [email protected].
Please include the following information in your email.
1) Applicant’s Name
2) Applicant’s Huobi UID
3) Applicant Contact
4) Applicant company entity (if any)
5) Introduction to the application
6) Budget Request
7) Application Cycle
8) Reasons for applying for sponsorship
In addition to financial support, Huobi Inno Labs can also assist in putting up networks with Huobi’s innate resources, such as Huobi wallet, Huobi mining pool, Huobi capital, etc.
VeChain ToolChain Powers Producers Market To Onboard U.S. Seafood Import Platform KnowSeafood
Challenges and opportunities posed by the pandemic are reacting in real time to consumers’ needs in the food sector. For the purpose of facilitating fresh, reliable supply of seafood in the U.S. marketplace, KnowSeafood announced its implementation of Producers Market’s powerful transparency application, StoryBird, powered by VeChain ToolChainTM. Through the Storybird application, KnowSeafood customers will be able to trace their sustainably harvested seafood transparently from catch to plate.
Americans spend $102 billion each year on seafood. However, according to the U.S. Department of Agriculture (USDA), about 80-90% of U.S. consumers still did not meet their seafood consumption recommendation generally due to the mislabelling of imported seafood products and unfamiliarity with preparation methods. It is further proven by the Food Marketing Institute’s first-ever Power of Seafood survey that half of the interviewed U.S. shoppers wanted more information on quality and freshness. The FDA also published guidelines and advice for consumers to acquire safe seafood, advising customers to look for the label containing information on where the fish was harvested, processed and certifications. This compels producers to improve their transparency.
As the coronavirus pandemic is closing or limiting restaurants in America, the consumers’ behaviors shifted to their own kitchen, boosting seafood to be the fastest growing supermarket category during the last week of May 2020 and supermarket sales have continued to surge through July 2020, which brings increasing demand on reliably sourced seafood.
To combat seafood fraud and supply chain shakeups, KnowSeafood chooses VeChain ToolChainTM to enhance its strategy of directly connecting farmers with consumers using blockchain technology.
VeChain ToolChainTM Secures and Enables Food Safety
As the world’s leading enterprise-friendly public blockchain platform, VeChain provides the market ready one-stop data BaaS platform VeChain ToolChainTM, which allows blockchain technology to be deployed with the fastest lead time compared with any other platform in the industry.
By using the user friendly templates built into VeChain ToolChainTM, local seafood farmers can easily upload harvesting, processing and shipping information onto the VeChainThor Blockchain, which later integrates with the StoryBird data visibility module to be presented publicly for the end users to validate product origin and trace logistics of delivery. The deployment of blockchain ultimately bridges key knowledge gaps between all stakeholders in the trade.
Starting from Q4 in 2020, multiple seafood categories on the KnowSeafood platform will be traced by VeChain ToolChainTM ,including Norwegian Salmon, North Atlantic Haddock, Peruvian Mahi-Mahi, New England Sea Scallops, Maine Lobster, and many more global species.
Daniel McQuade, Co-Founder and CEO of KnowSeafood stated, “Our groundbreaking experience working with blockchain has proven to us how powerful a solution it is to traceability and sustainability. The American consumer is demanding the kind of transparency and provenance that blockchain technology delivers. In working with VeChain and the Storybird application, we are bringing our customers the best technology in the market to have immutable trust in seafood from our KnowSeafood online marketplace.
Sunny Lu, the Co-Founder and CEO of VeChain, said, “Statistics have shown that in Q2 2020, $1 of every $5 spent by U.S. consumers came from online orders. Dramatic increases in spending can be found for online grocers, food delivery, meal kits, and more. There will be surging growth in the e-commerce food sector and VeChain will be happy to be part of the emerging new business scenario, starting from the seafood sector.”
With the growing demand for authentic and premium food products, there is a great potential for VeChain ToolChain™ to power more Producers Markets partnerships in the future.
As the world’s leading enterprise friendly blockchain company, VeChain began in 2015 and aims to connect blockchain technology to the real world by providing enterprises with blockchain solutions suitable for their business needs and to build a trust-free and distributed business ecosystem platform for business value. With VeChain ToolChain™, a low-code blockchain SaaS platform, VeChain will continue to promote the large-scale application of blockchain technology, help enterprise clients in digitalization transformation, and eventually realize the long-term vision of enabling the real economy.
VeChain is the pioneer of real-world business applications, with international operations in Singapore, Luxembourg, Japan, China, France, Italy and the United States. With strong independent development capabilities, and the professional compliance guidance of our strategic partners, PwC (one of the world’s top four accounting firms) and DNV GL (a leading global assessment and certification society), VeChain has established partnerships with many leading enterprises in various industries, including Walmart China, Bayer China, BMW, BYD Auto, PICC, H&M Group, Shanghai Gas, LVMH, D.I.G etc.
BitLeague Introduces Bitcoin-Backed Loan Services
BitLeague, the top digital currency financial services platform, announced today that it would provide crypto-based USD loan services. Through DigitAmex LLC, its lending arm (US licensed), BitLeague will offer industry leading bitcoin-backed loans to clients. Cryptocurrency investors will be able to borrow from 3.99% APR without selling their bitcoin holdings on www.bitleague.com or via the BitLeague App. The loan rate will be adjusted based on term, loan to value ratio, etc.
“This is a new milestone for our business. Our clients have enjoyed our zero-commission bitcoin trading service, and now, they can get loans from us at a very competitive rate without selling their bitcoin investment,” said Yifeng Mao, founder of BitLeague. “We see a substantial demand from clients for this essential product. Having received our Lending License from California, this bitcoin-backed loan service will be rolled out from this market and we hope to cover the entire US in the short to medium term.”
BitLeague LLC is registered in Delaware, with offices in Palo Alto and New Jersey, offering one-stop crypto financial services globally. BitLeague is dedicated to providing clients with seamless services including Bitcoin Term Deposits, ZERO commission bitcoin trading services and Bitcoin backed loans.
OKCoin to Become First US Exchange to List STX Token, Announces Stacks 2.0 Launch Partnership
OKCoin, the global, U.S. licensed, fiat-focused crypto asset exchange, today announced the upcoming listing of Blockstack’s Stacks token (STX) upon the Stacks 2.0 mainnet launch expected January 14. OKCoin is the first exchange in the U.S. to support the trading of STX as non-securities and will be hosting an upcoming airdrop of STX tokens to OKCoin users. More information can be found at stx.okcoin.com. This listing announcement comes on the heels of Blockstack PBC sharing a summary of a legal memorandum on December 7 supporting its plans for STX to no longer be considered a security under U.S. law after the launch of the Stacks 2.0 blockchain. This follows a first-of-its-kind Reg A+ SEC-qualified token offering of Stacks and concurrent Asia strategic round in September 2019 where it raised $23M.
Upon launch of the Stacks 2.0 mainnet, OKCoin customers in the US and international markets (except EU, Singapore and Brunei) will be able to purchase and trade STX on OKCoin as well as earn bitcoin by locking their STX to the network and actively participating in consensus – a process known as ‘Stacking’. OKCoin will make this an easy and seamless experience for all STX holders via their OKCoin wallet, allowing users to join with one-click and pool options for users who possess below the minimum amount of STX needed to participate.
“We are very excited to be the first US regulated exchange to list the Stacks cryptocurrency (STX) after it launches its mainnet,” said Hong Fang, OKCoin CEO. “Our two teams have a lot in common: We share a deep passion for building a user-owned internet and a strong conviction in the Bitcoin network as a foundation for that future. OKCoin was started to give people control over their own financial life and assets, while the Stacks ecosystem aims to do the same for user data. Providing investors with access to STX with compliant and easy fiat on-ramp plays an important role in fueling the STX ecosystem to help build that future this industry set out to create.”
“This is an unprecedented moment for the Stacks cryptocurrency, as US markets open up with the new decentralization legal framework,” said Muneeb Ali, CEO and Co-founder, Blockstack PBC. “OKCoin was the perfect fit to be the first to list STX in the U.S. OKCoin is a top exchange for fiat on-ramps and their efforts to build a responsible financial ecosystem for digital currencies align closely with our own commitment to compliance and helping mature the industry.”
The Stacks community and OKCoin share a deep commitment to compliance, protecting users, and overall industry maturation. OKCoin is playing a key role in helping STX complete its historic compliance journey, giving U.S. based purchasers secondary-market access to STX as non-securities for the first time. Along with some of the lowest fees in the industry and direct fiat-to-crypto pairs for traders, OKCoin will also act as a one-stop shop for the stacks ecosystem by enabling STX holders to participate in the novel Stacking function, providing an entirely new way to safely and securely earn bitcoin.
The summary is of a memorandum issued by Blockstack PBC’s independent outside securities counsel, Wilson Sonsini Goodrich & Rosati, PC (WSGR), and outlines how the anticipated change of status will permit U.S. persons to trade Stacks tokens on non-securities exchanges. As one of the largest, most widely-used digital asset exchanges, OKCoin’s dedication to compliance along with the willingness to explore an asset with a first-of-its-kind path through securities regulation like STX, is invaluable to the industry at-large.
OKCoin is planning a STX airdrop around the launch of the Stacks 2.0 mainnet. Interested users can join the waitlist for the STX airdrop at stx.okcoin.com. Separately, Blockstack PBC and OKCoin will be collaborating on STX marketing campaigns and events between now and the launch. Further information about the Stacks 2.0 launch event will be shared in the coming weeks – those interested can register at stacks2.com.
Established in 2013, OKCoin is a global cryptocurrency exchange regulated in the U.S. and other operating jurisdictions that enables customers to easily transition between crypto and fiat currency with industry-low fees. OKCoin’s advanced features provide a reliable, secure and frictionless trading experience, supporting customers across 184 countries to trade Bitcoin, Ethereum, and more crypto assets using multiple currencies including the US dollar, euro, and Singapore dollar. OKCoin is a registered money services business (MSB) with the Financial Crime Enforcement Network (FinCEN). Headquartered in San Francisco, California, OKCoin has offices in Hong Kong, Singapore, Malta and Japan.
About Blockstack PBC/Hiro Systems PBC
Blockstack PBC, soon ‘Hiro Systems PBC’, is an entity within the Stacks Ecosystem which is dedicated to building a user-owned internet on Bitcoin. Hiro will focus on providing tools for developers that are building secure apps and smart contracts on Bitcoin using the soon-to-launch Stacks 2.0 blockchain. The new blockchain design unlocks innovation on Bitcoin for the first time via Proof-of-Transfer, a novel consensus mechanism. Stacks cryptocurrency was distributed to the general public through, among other things, the first-ever SEC qualified token offering in US history.
Blockstack PBC is headquartered in NYC with employees and community members around the world, and is backed by Union Square Ventures, Y Combinator, Lux Capital, Naval Ravikant, SV Angel. Blockstack PBC also conducted token offerings of $70M to bootstrap the Stacks ecosystem.
Blockchain Labs Introduces InfraBlockchain – the Blockchain Solution for Governments and Enterprises
Blockchain Labs announced the launch of InfraBlockchain, highlighting its implementation flexibility to provide both a stable public blockchain and a scalable permissioned blockchain. The announcement gives a promising outlook into creating more blockchain-powered services in the real world.
According to Blockchain Labs, InfraBlockchain’s patented consensus mechanism makes it possible to design the network as a permissioned blockchain for internal uses, a consortium blockchain for limited group uses, or a completely public blockchain that openly invites anyone to participate. Furthermore, because of its consensus mechanism, InfraBlockchain supports a flexible transition from one network design to another, even after the network is up and running. In order to solve the blockchain technology’s innate problem of all data being recorded and shared publicly, InfraBlockchain also offers a selective anonymity feature that safely shields sensitive data, such as personal information, while maintaining the level of data integrity that only the blockchain technology can provide. Most importantly, InfraBlockchain was designed from the beginning to not involve any cryptocurrency (such as Bitcoin, Ethereum, Ripple, etc.). This is a celebratory news for many public sectors and enterprises, who were interested in the blockchain technology but were concerned about regulatory and accounting issues traditionally related to cryptocurrencies.
Since 2016, Blockchain Labs has been providing blockchain solutions to many services including Yosemite Card (a fee-less payment service for UC Berkeley students and local businesses in Berkeley, California), Godivart (an online artwork trading platform), and Comake (blockchain-based eContract service), to make the novel technology more widely accepted and used. However, recognizing the limitations of existing technologies, Blockchain Labs developed its own InfraBlockchain to address the technical problems that hindered blockchain’s mass adoption.
Conrad Um, the CEO of Blockchain Labs, commented, “The blockchain technology has a lot of characteristics similar to that of our society’s infrastructures, like roads and power grids. To build such underlying service platform that can benefit the countless number of users, it would require initial investment of time, money, and social consensus before we can see the technology’s effectiveness. However, just as other infrastructures in our society do, InfraBlockchain will greatly benefit businesses and organizations across all industries – starting with reducing the database management cost.”
Recently, Blockchain Labs was selected as the blockchain partner for the South Korean national government’s new project to develop a blockchain-based management and tracking system for a medical hemp production. Already having supplied the blockchain solution for RV-sharing platform for Seoul City earlier this year, Blockchain Labs looks to continue its expansion to bring more blockchain-based services.
ABOUT BLOCKCHAIN LABS
Blockchain Labs – based in Seoul, South Korea – is a parent company of California-based Yosemite X, and helps clients across the globe to reinvigorate existing products or power new business offerings using its patented blockchain technology. For more information about Blockchain Labs, please visit infrablockchain.com
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