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China’s blockchain consortium adds cryptocurrency exchange Huobi to its alliance

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  • Huobi, cryptocurrency exchange, has joined China’s blockchain consortium.
  • It will be contributing to the expansion of the blockchain network across various institutions and industries. 


Cryptocurrency exchange Huobi, its Chinese has joined China’s prestigious blockchain consortium, along with financial services giant UnionPay and among some other large names in the country; China Mobile, China Telecom, WeBank, and China Merchants Bank International.  

The nationwide blockchain alliance known as the blockchain service network (BSN) formed by the State Information Center, was launched in October. Its aim is to foster blockchain sector growth and aid the development of digital economy and smart cities in the country. 

Huobi became one of the first batches of members that will contribute towards the expansion of the blockchain network across

various institutions and industries. 

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Blockchain

CHAINALYSIS PARTNERS WITH BITFINEX FOR PRIVACY-SAFE COMPLIANCE

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The Rundown

  • Regulators Worldwide Start Looking at Blockchain Activity Directly
  • Chainalysis Could Track Compromised Wallets

This week, Chainalysis announced the completion of a full AML solution applied on the Bitfinex exchange. The blockchain analysis is becoming the next frontier of verification, as the Financial Action Task Force (FATF) rules start to be unrolled from the summer of 2020.


REGULATORS WORLDWIDE START LOOKING AT BLOCKCHAIN ACTIVITY DIRECTLY

Chainalysis remarks that institutions are starting to scrutinize blockchains themselves. The startup is offering its approach to proving the origin of funds

for multiple coins and tokens.

Jason Bonds, Chief Revenue Officer at Chainalysis, commented,

Bitfinex is known as a destination for cryptocurrency traders seeking liquidity across various cryptocurrencies, and that volume requires an automated blockchain analysis solution in order to comply with regulations across the world…We are thrilled to work with Bitfinex as we mutually invest in supporting multiple cryptocurrencies

Bitfinex is not an exchange without controversy, and has faced multiple explorations into its activity. The market operator also had significant problems with its banking services, and has gone through periods of non-transparent banking. However, the exchange is taking up a significant reporting effort.

Chainalysis already tracks the biggest blockchains, as well as ERC-20 tokens, covering 41 top assets and multiple tokens. The Chainalysis KYT (know-your-transaction) system allows for the monitoring of multiple chains for suspicious activity.

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BitMovio Announces Equity Crowdfunding, New Partnerships for Asia Expansion and Community Development, and New Product Feature Enhancements

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BitMovio’s mission is to bring a Fortnite-style gamified experience to video entertainment. The platform aims to fundamentally change how content creators, viewers, and financiers participate, interact, and engage within the video content ecosystem.

Since launched its open beta in early 2019, BitMovio has attracted more than 1,000 creator channels on the platform with more than 7,000 hours of content uploaded.

Please Note: This is a Press Release

BitMovio Equity Crowdfunding is Live on Netcapital

Contents [Show]

BitMovio recently launched its equity crowdfunding on Netcapital and invites all global supporters to contribute while participating in its mission to redefine the video streaming market. Angel investors, partners, content creators, and fans can support the platform’s mission by pledging with as little as $100. Those who pledge before December 31, 2019 will also receive 20% worth of bonus tokens.

Featuring a freemium revenue model, BitMovio is a blockchain-enabled, gamified video entertainment platform built for the Fortnite generation. Democratizing investment in early stage companies is consistent with BitMovio’s core values as it allows anyone to invest in the company’s success and become brand ambassadors to help grow its community and advocate for its mission. The platform will use its crowdfunding resources to continue to bridge blockchain and the video entertainment free marketplace.

New Partnership with Singapore Management University

BitMovio announced a new partnership with Singapore Management University’s Business Innovations Generator (SMU BIG). This is part of the company’s continuing efforts to capture the rapidly growing entertainment and blockchain industry in Asia, particularly in Southeast Asia. SMU BIG is hosted by SMU’s Institute of Innovation

and Entrepreneurship.

Ecosystem Partners for Product Enhancements and Community Development

To continue to enhance its hybrid video streaming infrastructure and gamified video streaming experience, BitMovio partners with world-class players in the ecosystem for product and community development.

Theta: Decentralized Content Delivery Network

BitMovio is in the process of integrating with ecosystem partner Theta’s Decentralized Content Delivery Network infrastructure. This will also allow the platform to access to Theta’s multi-million-strong community of users. BitMovio anticipates that the Beta version will be online by the end of December 2019 or early January 2020 at the latest.

Razer Gold: Fintech Solution for Emerging eSports Market

BitMovio has announced that it is in the process of finalizing partnership with Razer Gold, a fintech solution for the emerging eSports market by the eSports hardware and system provider Razer. This new partnership will introduce Razer’s community of over 80 million eSports fans to BitMovio, especially in the emerging market.

BitTorrent File System: Decentralized Cloud Storage

BitMovio is also in discussion to integrate with BitTorrent File System (BTFS)’s decentralized cloud storage protocol. It will also allow BitMovio to tap into the BTFS community of over 100 million users.

Recently Launched Usability Survey Campaign

BitMovio has recently launched a product usability survey campaign to continue to improve product usability and increase community adoption. Community members can directly provide feedback and suggestions to the platform’s developers. The first 1,000 respondents will receive 1,000 MoviBits as a token of appreciation. Respondents need to have an account registered on BitMovio to receive the reward.

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Libra, China’s CBDC may test separation of money and state

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Venture capital firm Blockchain Capital recently published its State of Crypto 2019 report, with a section of the publication giving an in-depth look into CBDCs, Libra, and the state of cryptocurrency usage in nation-states, retail, and institutional market segments. According to the report, crypto-assets are moving from the fringe to mainstream adoption across all three segments.

Digital assets have continued to resonate with Gen Z and millennial users (users between the ages of 18 and 34), and ~50% of those surveyed agree that most people will be using Bitcoin in the next 10 years. Since an estimated $15 trillion of wealth is expected to be transferred to younger generations by 2030, the report argued that this will make their investment preferences increasingly meaningful.

“~30% of individuals between 18 and 34 prefer to own $1000 of Bitco

in over government bonds.”

The report also showed that in the 12 months since June 2018, the number of full-time blockchain developers grew by over 13%. With regard to the push forward in institutional adoption this year, the report called the Libra project from Facebook, “the most radical development,” and stated that despite nascent institutional support for Bitcoin, there is huge potential for growth in both the retail and institutional segments.

Further, the report stated that financial institution distribution channels have the potential to enable access for “tens of millions of new Bitcoin users,” as well as mainstream adoption for the entire asset class.

“Five years ago, most [financial institutions] were dismissive of Bitcoin and blockchain – today it feels imprudent to not have a blockchain strategy. In many ways Bitcoin is increasingly viewed as a reputationally de-risked asset.”

The report also touched upon how central bank digital currencies were heavily explored by a number of nations, with a particular focus on China. According to the same, though CBDCs offer benefits to liquidity, central banks may use them to “surveil their citizens’ digital activities” and be able to trace financial transactions more efficiently, a development that would be “destructive to financial freedom and privacy.”

“The separation of money and state was tested by Libra and China’s digital currency plans. It remains unclear if CBDCs will function like cash or a bank account, but each model has widely different implications.”

Blockchain Capital also stated that digital cash would make it easier to export and drive adoption of domestic currencies abroad, potentially augmenting any nation’s influence on the global economy and international politics.

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