World’s Largest Crypto Exchange Binance To Launch Decentralized Trading Platform

Popular cryptocurrency exchange Binance announced its plan to develop a public Blockchain which will run a decentralized exchange.

Binance, the largest cryptocurrency exchange by trading volume, announced that it is officially developing a public Blockchain to create a new decentralized exchange, according a statement on March 13.

Binance’s vision that “centralized and decentralized exchanges will co-exist in the near future, complementing each other” inspired them to develop the Binance Chain, which  will be used for the transfer and trading of Blockchain assets. The move will also push the cryptocurrency exchange toward transforming from a company into a community.

“We believe that continuously supporting high-quality blockchain projects is the best way to develop this industry. We will continue to improve this part, as we committed in our whitepaper,” the cryptocurrency said.

The new Blockchain will also host Binance Coin (BNB), which will become a native coin on its own Blockchain mainnet.

A decentralized exchange differs from a centralized exchange in that it does not rely on  a third party service to hold the customer’s funds. Users transact with other users without the need for a central server, and there is no central authority that possesses order books or custody.

While decentralized exchanges provide more anonymity and are lauded as being more difficult to hack, they can be less intuitive for beginning traders and lack some of the features and functionality of centralized exchanges.

Decentralized exchanges are not new as platforms like Waves DEX, BitShares, NXT, CounterParty have been around for some time.

Binance’s statement regarding decentralization was released a day after announcing a $250,000 equivalent bounty to anyone who could provide information that leads to the legal arrest of the hackers responsible for the hacking attempt on March 7.

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Blockchain Platform to Connect Self-employed Domestic Workers and Customers With No Fees

A company is using Blockchain to allow self-employed service workers such as cleaners to use their reputations as a selling point.

A company that empowers service workers and helps them become entrepreneurial is planning to replace its app with a new Blockchain-based platform, helping providers with hard-earned reputations to win more business.

Crafty is initially going to launch in Brazil but believes its marketplace can transform the “extremely inefficient” service sector worldwide by ensuring a higher proportion of revenue goes to self-employed workers on the front line.

“Decent working conditions anywhere”

The founders of Crafty have already tested their concept through an app called Diaríssima, which launched in 2016. The company has described this as a minimum viable product (MVP), as it focused solely on connecting household cleaners with paying customers.

After opening for business in São Paulo, Diaríssima expanded nationwide and now boasts tens of thousands of customers and service providers, the company states.

Crafty, Diaríssima’s replacement, is to increase the number of services on offer considerably, and opportunities listed in its white paper include cooks, tutors, nannies, caregivers, gardeners and drivers. Underpinning all of this will be a Blockchain-based system where trust is established with every interaction between customers and providers.

This allows self-employed workers, who will use the platform for free without incurring any intermediary fees, to benefit from their reputation. In time, Crafty is planning to use artificial intelligence (AI) to offer “meaningful recommendations” to prospective customers who are searching for service providers.

Crafty is hoping to tackle five of the 17 Sustainable Development Goals established by the United Nations, one of which is “ending poverty in all its forms.” The company believes its lack of fees will result in higher frequencies of use, create a more level playing field where prices are more difficult to dictate and result in “decent working conditions everywhere.”

First Brazil, then the world

There are a few hurdles Crafty is determined to tackle. Among them is the fact that, on the face of it, a platform using cryptocurrency seems to be an unusual choice in a country where 40 percent of the adult population do not have a bank account (according to research by Instituto Data Popular.) Here, virtual accounts including debit cards would enable Crafty users to receive money and spend it opening new opportunities to 55 mln Brazilians and making cryptocurrency available to people from all socioeconomic backgrounds.

The company says it wants to encourage use of Crafty (CFTY) tokens in local commerce by negotiating partnerships with business groups and it claims this would enable token holders to access prepaid credit for everyday items such as mobile phones and electronics.

Crafty’s website and app have initially been written in Portuguese, but the company says its platform’s design means translating into other languages is easy.

Once a 45-day ICO concludes on April 9, the company is planning a massive promotional drive to attract new users, and a large proportion of its funding is being earmarked for marketing. It is expected that a virtual wallet will be integrated into Crafty accounts by September 2018. Additional services that providers can offer are going to be added every few months, with the platform forecasting that 150 professions will be covered by March 2020.

The company is confident that its idea can improve the lives of service workers around the world and plans to expand internationally in the coming years. Eventually, it hopes imperfections in the market will be eliminated, helping incomes to rise and granting more people access to a healthy, comfortable and financially secure life.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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Lawyer in Kleiman vs Wright: “Raises Questions About the Identity of Satoshi Nakamoto”

Further details have emerged about the nature of the case between Craig S. Wright and David Kleiman. Boies Schiller Flexner will be representing the estate of the plaintiff in the $10.2 billion case. Meanwhile, Wright will be defended by attorneys from Rivero Mestre LLP.

$10 Billion in BTC: Wright’s, Kleiman’s, or  Neither?

The brother of paralysed IT expert David Kleiman filed the lawsuit on behalf of his sibling’s estate last month. Ira Kleiman alleges that Wright stole intellectual property, as well as over a million Bitcoin from David Kleiman following his death. It’s thought that Wright forged his former partner’s signatures and falsified dates on legal documents to commit the embezzlement.

According to the National Law Journal, the Boies Schiller attorneys assigned to the case are Devin “Velvel” Freedman and Kyle Roche. Freedman is part of the firm’s Miami counsel. Meanwhile, Roche is an associate from their Armonk office. Freedman spoke to the NLJ about the plaintiff reaching out to the company for representation:

“The client came to us primarily because of the firm’s litigation expertise and my experience in handling international disputes. But he was also impressed with the knowledge of cryptocurrencies and blockchain-related issues of lawyers like Kyle Roche, who is working on the case with me.”

Later in the emailed statement, Freedman goes on to raise the issue of the identity of Satoshi Nakamoto. The Florida lawyer said that although the case’s main objective was to recover the funds for Kleiman’s estate, it could also involve the questioning of who exactly created Bitcoin originally.

Wright famously declared that he was Satoshi back in 2016. He refused to present any proof, however, and many around in the early days of Bitcoin refute the possibility that he could be responsible for the creation of the most popular crypto today.

The implications of the case could be massive. Of course, Craig Wright stands to lose a lot of cash from it and in digging deep into the early days of Bitcoin, the identity of the creator could be revealed. However, some refute that the coins Kleiman’s estate and Wright are arguing over even belonged to either of them.

Blockchain analysis team WizSec has done extensive detective work into the ownership of each of the wallet’s mentioned in the case so far. Using advanced blockchain forensics, they were able to identify many of them as belonging to other companies or individuals that have no connection with either party in the case. Several have links with employees or customers at now-defunct exchange Mt. Gox.

We’ll have to wait for the case itself to test the validity of any party’s claims, however. The next stage in proceedings is expected to be a response from Wright’s legal team by April 16, 2018.

 

The post Lawyer in Kleiman vs Wright: “Raises Questions About the Identity of Satoshi Nakamoto” appeared first on NewsBTC.

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Complete Decentralized Trading Platform – Binance

Exchanging Cryptocurrencies

One of the leading digital currency exchanges – Binance, has set a plan in motion to make a major impact in the ecosystem – the release of a new decentralized trading platform which will challenge the platform we know now.

Binance is one of the exchanges that did experience so much growth in the recent past as it had to terminate signups for a few weeks. The event did note out that changes need to come so a solution is made so halt like that should not happen anymore.

As announced, a complete new decentralized version of the existent exchange will be here in the near future. For the time being, there is no release date declared by the team or firm, however it seems like it will not be that long.

Binance Chain – the platforms name will be, which is in development and will be supporting various [while many] coins to change hands. However, it has still to be officially declared which of the many-cryptos will join the platform. The result obviously will be that the Binance platform which is used for trading right now ill be challenged or be complemented by the new ground.

It is good to see more companies embrace the decentralized exchange model. The new platform will also use the BNB currency as gas to power all trading. This will undoubtedly have a positive impact on the BNB price in the coming weeks and months. Given the overall bearish market sentiment right now, this is rather positive news for the industry as a whole.

The post Complete Decentralized Trading Platform – Binance appeared first on Ethereum World News.

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The BitRent Platform Held a Closed Presentation for the Leaders of the Middle East Real-Estate Market

On March 6, 2018, the management of the BitRent blockchain platform held a closed presentation for key investors and heads of the UAE construction departments. The event was named “BitRent Private Conference”.

Who participated?

Compacts of intent and commitment were signed by well-known developers of the UAE: Dubai Property, 22 carats, Kempinski, Virtue GI.

The conference was visited by investors, whose total wealth according to Forbes is in excess of more than 15,000,000,000 US dollars. The event was attended by Sheikh Saif Al Mansoori, Sheikh Sultan Al Nuaimi, investor Mahendra Patel. The invited guests included:

• Mohamed Mahgoub, Chamber of Commerce and Industry;
• Saif Al Mansoori, Ben Mansoori Company;
• Abdulhakim Mahmood, Director, Dubai Properties Group;
• Alexander Pushilin, a private investor;
• Mohamed FawadAkber CEO of AIP;
• Mahendra Patel, GEAP group member;
• Maria Marchenko, founder of Capric Media;
• Pradeep Padmanabahan, director of the OBS group;

The purpose of BitRent Private Conference

The main goal of the presentation, set by the creators of the project Dmitry Starovoitov, Igor Pavlov and Vadim Dashut, was to gather the leaders of crypto clubs, blockchain funds and leading specialists in the construction industry, as well as to create favorable conditions for establishing business ties. The presentation of the unique constructional blockchain-platform and the first tokenized facility allowed us to uncover the potential of BitRent for the development of the construction industry and to demonstrate the real estate sector’s and crypto economy’s points of convergence.

The platform will help solve the main issues of the construction market such as closedness and conservatism. It will give investors the opportunity not only to invest resources but also to fully control the construction of any facilities.

Platform’s Advantages

One of the key advantages of BitRent is the low entry threshold. This attracts an almost unlimited number of participants to any construction projects. The security of operations on the platform is guaranteed by Blockchain, Smart Contracts, BIM, and RFID technologies.

Participants of the system get full access to the database of objects under construction, they can select an object for the parameters of interest, vote for the priority of projects, monitor the stages of a construction process in real time. BitRent does not have geo-references. Anyone can invest in projects around the world.

Investors not only receive up to 30% of the profit from investments but also become the shareowners of the building projects. Financial resources invested in platform projects are protected from exchange fluctuations. And the exact procedure of investing funds and of construction control is extremely simple and transparent.

Construction companies can join the system at any stage of construction. They get access to the participants’ database and the right to present themselves to the platform participants and thereby attract investments.

What was presented?

BitRent’s founders presented the functionality of the platform and representatives of its strategic partner the construction giant Megaline
presented the very first facility – Unity Towers.

Unity Towers is a complex of three skyscrapers that combine the functions of a residential complex, a hotel, a modern business co-working center, an IT-Hub with an adjacent infrastructure with a separate parking building for 450 cars. The complex will be located in the resort area with a direct access to the Black Sea. This will be one of the key advantages for investors while choosing an investment object.

About BitRent

Platform participants, known as owners of RNTB-tokens (BitRent cryptocurrency
), have the right to directly influence the speed of construction of selected constructional objects. They can manage shares in projects at their discretion, buy and sell square meters.

“RNTB is a utility token, a payment method on a platform with a large amount of functions. 2018 can be called the year of the “Semantic Token”, when there is real business and a real sector of economy behind every crypto currency”, says the founder of the platform Dmitry Starovoitov.

Details on the features of BitRent can be found on the official site
https://bitrent.uk/.

 

The post The BitRent Platform Held a Closed Presentation for the Leaders of the Middle East Real-Estate Market appeared first on NewsBTC.

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IMF Chief Lagarde On ‘Dark Side’ Of Crypto: Blockchain is ‘Exciting’ But Needs Regulations

IMF Chief Christine Lagarde further states the need for crypto market regulation to protect customers and prevent money laundering in an IMF blog post.

International Monetary Fund (IMF) Chief Christine Lagarde said that crypto markets must be regulated by the same laws that apply to the traditional markets in an IMF blog post published today, March 13.

The post, “Addressing the Dark Side of the Crypto World,” begins by praising the virtues of Blockchain technology, which she refers to as an “exciting advancement that could help revolutionize fields beyond finance.” However, Lagarde adds that regulators must “understand the peril that comes along with the promise.”

In terms of specific ways to enact regulations that will protect consumers in the crypto markets, Lagade writes that one must “fight fire with fire.” She brings up two examples: using digital ledger technology (DLT) to “create registries of standard, verified, customer information along with digital signatures,” and using biometrics, artificial intelligence, and cryptography to more quickly find suspicious transactions.

As cryptocurrencies are decentralized, anonymous, and have no inherent need for a central bank, Lagarde sees a potential for their use in money laundering and financing terrorism. She mentions the example of darknet marketplace Alphabay, which had more than $1 bln exchanged through crypto on its platform by the time it was shut down in July 2017.

Lagarde writes that cryptocurrencies could threaten the stability of traditional financial markets, and that regulations must be developed on a global scale with help from the IMF:

“No country can handle this challenge alone […] Since crypto-assets know no borders, the framework to regulate them must be global as well.”

Lagarde’s goal is to give crypto consumers the same protection that they have in traditional markets, and references several agencies which she sees as good exemplars of regulatory diligence; the Financial Stability Board (FSB), which observes fintech innovation, and the Financial Action Task Force (FATF), which fights money laundering and terrorism financing. The FATF is currently preparing a report on ways to prevent crypto use in money laundering for the upcoming G20 summit.

She also mentions the US Securities and Exchange Commission (SEC) and other regulators internationally beginning to apply securities laws to Initial Coin Offerings (ICO).

Lagarde’s takeaway is that crypto is “somewhere in between” a fad and a revolution, and that only global cooperation, along with the IMF, can “harness the potential of crypto-assets while ensuring that they never become a haven for illegal activity or a source of financial vulnerability.”

Lagarde has previously said that she believes crypto regulation is both inevitable and necessary. However, she has also spoken positively of the potential role for cryptocurrencies to play in countries with weak currencies.

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R3 v. Ripple Lawsuit To Be Decided In NY As XRP Loses Its Appeal To CA Court

Blockchain developer Ripple has lost its opportunity to fight against R3 in its home state California. Now, the case is expected to be settled by a New York court.

Ripple Labs Inc., the company behind the Ripple settlement system, has lost its opportunity to hold the court hearing over a contested contract with its rival R3 in its home state, California, Bloomberg reported March 13.

In September 2017, the R3 consortium filed a lawsuit in Delaware and New York against Ripple, claiming that the latter had violated a prior agreement between the two companies about the purchase of XRP digital currency. The contract included an option allowing R3 to buy up to 5 bln XRP tokens at a price of $0.0085 each at any time before the end of 2019.

Ripple further filed a counterclaim in California, accusing its former partner of infringing on a number of commitments associated with the agreement.

When the two companies began suing each other, the value of the contract in dispute was a little over $1 mln. However, after several months of court proceedings the price of XRP surged in value, significantly increasing the stakes as the 5 billion XRP in question are now worth about $3.85 bln.

A San Francisco state appeals court denied Ripple’s petition to appeal the order that dismissed its lawsuit against R3.

The procedure in San Francisco followed a verbal ruling made by a Delaware judge to dismiss R3’s own case in October 2017. The outcome of this legal battle now depends solely on the future decision of a New York court.

As the San Francisco-based Ripple claimed, having to bring the case before a New York court would cause the company “irreparable injury.”

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Japan Wants to See G20 Counterparts Increasing Efforts to Stop Cryptocurrency in Money Laundering

Japan Wants to See G20 Counterparts Increasing Efforts to Stop Cryptocurrency in Money Laundering

Japan is expected to urge its G20 peers to step up efforts to prevent cryptocurrencies being used in money laundering, according to a government official.

In a report from Reuters, it’s unlikely that finance leaders in G20 nations will be able to agree on set rules, given the fact that each country has a different approach to the market.

China, for instance, banned the use of cryptocurrency trading last September and is taking steps to outlaw citizens from accessing foreign crypto websites. Whereas, Saudi Arabia appears to be taking a more laissez faire-approach to the space as it continues to watch market developments.

An official involved in the G20 talks said:

“Discussions will focus on anti-money laundering steps and consumer protection, rather than how cryptocurrency trading could affect the banking system. The general feeling among the G20 members is that applying too stringent regulations won’t be good.”

This move from Japanese policymakers could be in response to the hack at Tokyo-based cryptocurrency exchange Coincheck at the end of January. Believed to be down to a lack of proper security measures, thieves were able to steal 523 million NEM units, worth around $530 million, and making it the biggest hack of its kind.

As a result, the country’s financial watchdog, the Financial Services Agency (FSA), issued the exchange with improvement orders. This eventually led to a month-long suspension at two digital currency exchanges after it was discovered that they were lacking the correct procedures.

Notably, this has put the limelight on the country considering it was the first to adopt a national system that would oversee digital currency trading. Coincheck completed its vow to reimburse 260,000 of its customers who lost holdings of NEM today.

Despite the fact that each country looks at the market differently, France and Germany are expected to make a joint proposal at the G20 summit next week to regulate bitcoin.

French Finance Minister Bruno Le Maire said in January, of the proposal, that:

“We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March.”

According to Japanese officials, regulations need to be applied that protect consumers and prevent illegal activities while ensuring that innovation isn’t being stifled in the sector.

The post Japan Wants to See G20 Counterparts Increasing Efforts to Stop Cryptocurrency in Money Laundering appeared first on Ethereum World News.

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Platform Plans to Unite World Karate Community Through Blockchain and Cryptocurrency

Implementing Blockchain could allow trust management and efficiency on the technological level and attract companies not yet involved in karate

Global karate organization BoutsPro aims to bring together an estimated 190-mln strong karate community by using Blockchain. As there are so many different styles of karate, there are many different governing organizations (Such as ITKF, WKF and WFF) overseeing tournaments and rankings. The BoutsPro white paper outlines how bringing all elements together needs a strong fund management system which can generate revenue from multiple sources, for example, sponsorship and advertisements.

The company highlights how the teaching of karate differs from other mainstream sports such as football, where players can get started and develop without the need for direct contact with a coach; karate students need an expert to personally guide them from the beginning, both physically and mentally. So now through the use of Blockchain and cryptocurrency, BoutsPro claims they have found a way to effectively manage these important relationships around the world.

BountsPro

The white paper explains that by implementing Blockchain, it will ‘allow trust management and efficiency on the technological level. This will help to establish the system which can manage the whole system as well as the market requirements.’ They also say that this will be attractive to companies not yet involved in karate, as well as those already invested or involved in sponsorship with the sport. The team of karate ‘legends’ hopes to use cryptocurrency to ‘transform traditional karate to professional karate,’ thus upping the profile of the ancient martial art.

As a result, BoutsPro has launched their own crypto token (BOUTS, type ERC20) based on Ethereum Blockchain technology (1 ETH = 9,000 BOUTS). The ICO began on March 11th (no presale or private sale– the team would like to emphasize that it has a focus on equal opportunity) and will continue until March 25th.

There are extensive ways for holders to utilize their tokens. The centralized portal of BoutsPro will allow users to access lots of karate information relevant to them, such as details on ranking and tournaments, plus access to training tips. Tickets to events can also be purchased online using BOUTS. Private clubs and teams (to participate in the World Professional Karate League) will be franchised and sold on the revenue share module.

BountsPro

Other developments include BoutsPro TV (in partnership with QuickMedia and Pozetta Broadcasters) featuring live streaming and on-demand services for users. They aim to be creating content by later on in 2018. Relating to this are their plans to enter film production. Inspired by the success of martial arts titles such as ‘Karate Kid,’ BoutsPro hope to produce ‘one world class movie based on karate, per year.’  Users can also exchange BOUTS for participation in the dedicated online gaming platform, which aims to ‘provide healthy entertainment and educate basics of karate to the common people as well athletes.’ Finally, BoutsPro is planning to create world-class stadiums and dojos around the world for their members, as well as launching specialized sports insurance for BoutsPro athletes.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

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DHL, Accenture Reveal Blockchain Prototype To Tackle Pharmaceutical ‘Tampering’

DHL and Accenture have quietly developed a Blockchain prototype to enhance the pharmaceutical supply chain.

Logistics giant DHL announced it had partnered with Accenture and created a Blockchain-based supply chain prototype March 12.

In a joint press release, the two companies presented a trend report for Blockchain in tandem with what appears to be ongoing plans to introduce the technology to global pharmaceutical supply.

“DHL and Accenture created a blockchain-based serialization prototype with nodes in six geographies to track pharmaceuticals across the supply chain,” the release reports.

“The ledger tracking these medicines may be shared with stakeholders, including manufacturers, warehouses, distributors, pharmacies, hospitals, and doctors. Lab-simulations show how blockchain could handle more than seven billion unique serial numbers and 1,500 transactions per second.”

Permissioned Blockchains have formed a continuing area of interest for Accenture over the past year.

In September 2017, the company filed a patent for a so-called ‘editable Blockchain,’ allowing “enterprises to resolve human errors, accommodate legal and regulatory requirements, and address mischief and other issues, while preserving key cryptographic features.”

While the concept of manually altering Blockchain data sounds counterintuitive for a technology in which an immutable ledger lies at the heart of its effectiveness, the DHL scheme appears equipped to tackle issues endemic in the pharmaceutical industry such as “tampering.”

“We see especially exciting potential for blockchain in pharmaceuticals, which is why we focused our proof of concept with Accenture on the life sciences and healthcare industry,” Keith Turner, CIO at DHL Supply Chain commented.

“By utilizing the inherent irrefutability within blockchain technologies, we can make great strides in highlighting tampering, reducing the risk of counterfeits and actually saving lives.”

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