An enterprise organization concentrated on developing the stellar framework, Interstellar, has designated Mike Kennedy as Chief Executive Officer recently. Interstellar has created another organization which present CEO Adam Ludwin will lead.
We are thrilled to have Mike lead Interstellar through its next phase of growth. Mike’s record of success founding and growing Zelle [fka clearXchange], his innovation in mobile payments, FX and banking, and his history as a high-impact advisor to Stellar make him the perfect fit to lead Interstellar.
Alongst Kennedy’s deputation, Interstellar additionally declared that it is “spinning-out a new app-focused company” known as Pogo, which has been in stealth mode for quite some time. Kennedy will supplant Adam Ludwin, the previous RRE Ventures partner and the present CEO of the blockchain payments startup Interstellar.
In the meantime, Ludwin will proceed to steer the organization’s most recent project, Pogo, a subsidiary that will concentrate on applications and mobile wallets. Further, Kennedy’s designation as CEO at Interstellar pursues the news that Franklin Templeton, Investment fund, plans to tokenize the part of a government currency market fund on the stellar system.
Besides, as CEO, Mike will direct all aspects of Interstellar, by focusing on helping to expedite the adoption of the stellar system for worldwide payments. Mike is an accomplished official with notable payments experience. Moreover, he established, led, and sold Zelle (fka clearXchange), one of the most prominent Peer-to-peer payment frameworks in the US.
Furthermore, Kennedy’s system Zelle, the payment framework is utilized by Citi, JPMorgan Chase, Bank of America, and several other finance-related organizations, as indicated by its site. Additionally, it claimed that Zelle oversees over 50 billion dollars in transaction volumes from more than 25 million clients.
Interstellar was initiated in 2018, from an acquisition deal with Lightyear.io, a startup based on the stellar protocol, and a decentralized ledger technology builder chain. Meanwhile, the organization expressed that it planned to provide enterprise solutions for embracing the stellar blockchain, created by the non-profit SDF (Stellar Development Foundation).
Regardless, Interstellar is developing the system by building the payment layer on stellar, a sector where Kennedy has broad experience. The organization has been associating with different banks, authorized non-bank providers and organizations, and building layers to attract a more extensive client base, as indicated by Kennedy.
Presently at Interstellar, Kennedy intends to work on with similar giants like correspondent banking and the SWIFT payment framework. Over and above, most traditional financial organizations use these instruments to transfer cash universally; however, Kennedy said blockchain could do it quicker, more reliably and at a lesser cost.
Spanish Firm Aragon to Open Registration Doors for Aspiring Judges to Settle DAO Disputes
Spain-based reputed startup platform, Aragon has broadcasted the news that it will launch a form for the registration of interested individuals who are aspiring to sign up as judges for the platform. These judges will play a pivotal role in settlement of disputes and the enforcement of contracts between the entities working on the network.
Aragon was formulated with an objective to facilitate the creation and management of a decentralized autonomous organization or DAO, as it is popularly referred to as, while utilizing the tools offered by Ethereum. The piece of news was delivered by Aragon’s developer and CEO, Luis Cuende, during his interaction with James Molins, a correspondent of Breaking News, in the Congress Paralelní of Hackers (HCPP 2019) that was organized in Prague, Czech Republic.
It is a justice system decentralized to resolve disputes in a way that you can have your estate in Aragon, decentralized in the blockchain, and then also have this system with which you can resolve disputes of any kind in your estate. For example, the attacks that arise on the part of the DAO that want to take the treasury out of the funds of the DAO and give it to another DAO, so that people who do not have as many token do not have the right to vote and lose the funds. This type of problem, very common in a scenario where you either purchase tokens and you can be part of a DAO, we solve this system of dispute resolution,
said Luis Cuende.
Where on the one hand, Aragon allows a person to run and manage a decentralized organization by providing aid in fields like accounting, financing, governance, etc., it is also now planning to create a regulatory court that will render to compliance of contracts along with a settlement of conflicts for the DAO.
Luis Cuende further shared his views saying that
And the magic of this jurisdiction decentralized is that there is no violence, this court can not get anyone in jail. There are No prisons. What we can do with incentives crypto-financial is to align so that all the people, in general, have reasons for not doing harm to other people, or, in general, not to damage relationships or existing contracts. But in the end, there is no violence, which it seems to me that is still very much the concept of crypto.
The spearhead confirmed that by December next year, a registration form will be made available for the people who wish to apply for the judges’ designation. By January 2021, the solution will start resolving real cases of disputes. The judges shall be selected by draw, and the parties in dispute will be allowed to select the number of judges who wish to participate in the case proceedings.
The judges who aspire to become a part of a particular case will have to make a deposit in ANT token in lieu of the right to perform the service. Post the case proceedings; the judge will get his/her fees.
Even if you have a dispute resolution system, you don’t want to have to use it; then our model is also fixed much of it, in which the judges have to be paid but not do anything. You need to be there not only for the disputes, but they are there forever, that is what also makes the traditional system of justice isn’t it? Whether or not you cases to judges are paid, because if not they would go,
The court is put into action when an interested party counters that a submitted proposal has violated the agreement terms. The disagreeing party needs to deposit an equal amount of collateral as well as the initial fees of dispute decided by the Court of Aragon.
MakerDao announces launch of Multi-Collateral Dai; introduces new logo
Maker Foundation’s Chief Executive Officer [CEO], Rune Christensen, spoke at DevCon 5 held in Osaka, Japan, where he revealed the launch of Multi-Collateral Dai [MCD]. Christensen went on to announce that the launch will take place on 18 November.
MCD will also be introducing several other features to the Maker Protocol like Dai Savings Rate [DSR] and additional CDP collateral types. The DSR will differentiate Dai from other stablecoins and will enable users to earn on-held Dai, while MCD will offer an option to earn savings by holding Dai.
The launch of MCD is being held as a milestone for the MakerDAO project, in light of the impact it may have on the future of Decentralized Finance. Apart from earning Dai with DSR, it would also lead the way for innovative Maker protocol integration on the backend of DeFi dapps. The blog read,
“Multi-Collateral Dai represents a tool in the DeFi toolbox that can help harness the power of money to solve global problems. Because of DeFi’s reliance on transparent, honest collaboration, even the most extreme global financial inequality might one day become a thing of the past.”
Defi may help the unbanked and the under-banked to build products and gain access to financial services. MKR holders will be voting on the terms of the DSR and the risk parameters for BAT and ETH, the first two tokens under evaluation by the interim risk team.
Christensen also took the opportunity to introduce the community with the new look of the Dai logo. Head of Design, Henry Doe, commented on the same, stating that the design included intensive research and community participation. He added,
“In doing so, we saw a great opportunity to design something that would help move DeFi into the mainstream and allow Dai to be globally recognized as a currency.”
The new design pushes the accessibility of Dai to people outside the cryptoverse to communicate the role MCD will be playing in DeFi, while promoting the stablecoin’s potential, explained Coulter Mulligan, Head of Marketing.
TNC Group CEO Bruce Jeong Meets Facebook Libra’s Susan Zook
TNC Group CEO Bruce Jeong recently met with Susan Zook, one of Facebook Libra’s lobbyists. Jeong took the opportunity to discuss TNC Group’s plans and propositions to the blockchain and cryptocurrency space. Zook has shown a positive impression of TNC as a blockchain-focused company, discussing how Facebook Libra can collaborate with TNC Group.
According to Jeong, Zook responded positively to the presentation of TNC’s projects and services. He also added that among all of TNC’s project, Zook was mainly interested in the establishment of Blockchain Academy. An investment in blockchain education that aims to drive economic progress in developing countries through the construction of Smart Crypto Cities.
Zook was a former aide to the chairman of the Senate Banking Committee, which executed the hearing for Facebook’s cryptocurrency project Libra in Washington last July. She owns her own consulting firm Mason Street Consulting. Zook had confirmed in an email that she was hired by Zuckerburg to focus on lobbying Senate Republicans. In its aggressive pursuit to launch Libra, Facebook CEO Mark Zuckerberg has met with various government officials and gathered a team to help him start Libra.
Malloy McDanniel of West Front Strategies was also present in the meeting. He is also a principal for Blank Rome, an AM Law 100 firm providing legal services. During the discussion, Zook has recognized some gaps in crypto regulations, which business strategist McDanniel suggests TNC consultancy services can adequately fill.
Bruce Jeong said,
“We have discussed blockchain technology as an emerging industry and the challenging situation for crypto regulations in the USA. As a blockchain consultancy company, it’s going to be a pleasure for TNC to render our services for Susan and Libra.”
Jeong also revealed that meeting Zook opened new horizons and possibilities for TNC. He is optimistic about sharing that this meeting is exactly what TNC needs and is well-aligned to the company’s goals. As part of their company road map, TNC aims to start business operations in the country well-aligned with its plan to relocate the company headquarters in New York, USA.
TNC Group has a long-term goal of bringing together the best projects with innovative blockchains and create a bigger ecosystem for the blockchain and crypto industry. TNC believes that this will enable more people to be aware and choose to use cryptocurrencies.
At the end of the meeting with Zook, Jeong wrapped things up by expressing his interest to meet Facebook’s Chairman and CEO Mark Zuckerberg. Jeong mentioned,
“I told Susan that I really want to meet Mark Zuckerberg. I believe that it is very beneficial for both the TNC Group and Facebook Libra to have friendly relations.”
Jeong also said that this can pave the way for possible future business collaborations between Facebook and TNC.