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Blockchain Storms The Automotive Industry

Created by experienced automotive professionals, Carnomaly harnesses the limitless potential of the blockchain and cryptocurrency to provide innovative solutions for some of the most pressing problems in today’s automotive industry. Carnomaly can solve numerous industry inefficiencies, such as undervalued trades, high-interest rates, overpaying for vehicles, a confusing purchase process, and inaccurate vehicle histories with its fleet of technology solutions: the CARR token, CarrChain, and CarrDefi.

CARR Tokens

Carnomaly logo
Carnomaly logo

To fund its development and the global reward program, Carnomaly created CARR tokens. The Ethereum network hosts the token exclusively through its ERC-20 smart contract. Utilizing only the Ethereum network makes it simple to analyze how many tokens each member holds and the membership level each member has achieved.

CarrChain

CarrChain is a web-based application through which vehicle owners can easily manage and update their vehicle’s online profile.  The better updated an owner keeps their vehicle’s profile, the more points they can earn towards the car’s reputation score. When the time comes to sell the car, this gives a competitive edge to the seller. 

Essential Benefits of CarrChain:

  • Achieve real-time vehicle sales by eliminating lengthy title transfers
  • Replace confusing, incomplete vehicle maintenance paper records
  • Notify dealers and private buyers of possible weather damage to a vehicle through the Natural Disaster Bulletin
  • Provide complete historical records for the dealer when it’s time to sell
  • Increase the value of the car
  • Discover service gaps in maintenance to improve the lifetime performance of the vehicle

CarrDefi

CarrDefi is a crypto-powered solution from Carnomaly to eliminate outdated and inflexible auto lending. It utilizes a decentralized blockchain system where loans and assets can be purchased or sold without a bank. Carnomaly members can use CarrDefi to securely connect with borrowers and lenders through loan pools created by Carnomaly’s financial experts.

Carnomaly will offer 250,000,000 CARR tokens in three separate IEOs, the first of which launched on Jan.26. To ensure stability for token holders, Carnomaly is dedicated to listing on some of the top exchanges with the highest liquidity. Once the final IEO sale has concluded, Carnomaly will lock company funds for 90 days.

Carnomaly is the future of the automotive industry. Their fleet of tech solutions will bring digital innovation to the automotive industry through the power of blockchain technology. CarrChain, CarrDefi, and the Carnomaly marketplace will change the way we buy, sell, shop, report, and finance new or used vehicles.

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Bitcoin News Blockchain News Cryptocurrency News Ripple News

NordikCoin Expanding To Asian Markets

Leading Estonian high-tech cryptocurrency exchange service, NordikCoin, is announcing that it will start accepting customers from Asian markets. The company will first begin accepting customers in selected jurisdictions, while further expansion is expected to continue in 2021. Whilst expanding its global reach, the company itself and its day-to-day operations will continue to be domiciled in global cryptocurrency haven Tallinn, Estonia.

Bitcoin on the rise

Bitcoin has been in the limelight for over a decade now, rapidly expanding its scope of applications, and continuously rising in value. On January 8th 2021, Bitcoin hit a new milestone by surpassing $42,000 in value, proving that its popularity is steadily increasing.

To support the rise in demand, Estonian cryptocurrency exchange NordikCoin will apply its European KYC and AML rules to customers from new Asian jurisdictions, with the main focus on security and compliance. NordikCoin’s AML/KYC policy stands for Anti-Money Laundering and Know Your Customer and was designed to prevent and mitigate possible risks of money laundering and terrorism financing.

NordikCoin aims to be one of the fastest and most hassle-free ways of buying Bitcoin. The exchange supports all major credit cards, whilst crypto wallets are provided free of charge to its customers. Due to the innovative use of electronic ID solutions, users from supported jurisdictions can set up their accounts in under five minutes – after which they can start trading Bitcoin immediately. The company is known for bringing innovation into the cryptocurrency space, being one of the first Bitcoin exchanges with Lightning Network protocol support. 

Inevitably, one of NordikCoin’s main priorities has been to follow all the latest cybersecurity standards and best practices, ensuring that the cryptocurrency exchange environment is safe and reliable for all users across the globe. This is, in part, due to the fact that the team behind NordikCoin is comprised of experienced lawyers, auditors and technologists from around the world.

Japan next for rapid expansion

One jurisdiction which is being considered for NordikCoin’s Asian expansion is Japan. The country has witnessed a notable surge in Bitcoin holdings by 11%, suggesting that it’s the perfect launchpad. Several crypto exchanges are already present and thriving in the Japanese market, regardless of current COVID-19 restrictions and difficulties. Key exchanges include Okcoin, Bitflyer, Bitbank and Btcbox, among others.

David De Marco, CEO of Omni Matrix Ltd, the parent company of NordikCoin.com, shares his excitement for the Asian expansion plans:

– Our expansion into the Asian market marks a unique opportunity for the company to present its innovative cryptocurrency trading services globally. We are thrilled to announce that we will be expanding our customer onboarding processes to facilitate clients from Asian markets. We are confident that this is the perfect stepping stone for the new era of cryptocurrency exchange with NordikCoin leading the way.

Asia has been dominating the cryptocurrency market in the past couple of years, with financial giant SBI taking a lead. The company made a series of crypto moves recently including a planned 2022 launch of a digital exchange with Switzerland’s SIX, a partnership with Ripple and, most recently, the acquisition of U.K.-based cryptocurrency trading firm B2C2. Asia has been found to adopt blockchain technology much faster than many Western countries, incorporating innovations quickly and efficiently. NordikCoin’s expansion plans seem to be a great way for Europe and Asia to join forces and increase efforts of pushing Bitcoin and cryptocurrency into the limelight. 

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LiteLink Intends To Acquire A Stake In Leading Canandian Crypto Exchange

LiteLink Technologies Inc. (OTC: LLNKF), a company focused in emerging technologies across growth sectors including: cryptocurrencies, blockchain, AI and cloud technologies, has announced that it has signed a Letter of Intent to complete an equity investment in CatalX Exchange Inc. (“CatalX”), Canada’s premier cryptocurrency exchange with over 40+ Altcoins available for purchase on CatalX.io.

CatalX is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. CatalX has developed a scalable and modularized platform with a trading engine that can scale to millions of users in real time and cutting-edge cyber security system CyberSmoat®, which is patent pending.

Features of the CatalX platform include:

  1. Fully featured exchange order book
  2. $0 deposit fees and immediate funding (post-KYC)
  3. 0.15% trading fees
  4. Tightest buy and sell spreads in Canada under 0.1%
  5. Lowest rates to buy BTC in Canada

The proposed equity investment will be satisfied through the issuance of 37,500,000 common shares of LiteLink to CatalX and a cash payment to CatalX of C$500,000, and would result in LiteLink having ownership and control over 19% of the outstanding share capital of CatalX. In conjunction with closing of the investment, LiteLink will also pay a finder’s fee to an arm’s length party of 1,875,000 common shares of LiteLink. All securities issued in connection with the investment in CatalX will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.

“We are very excited to make this investment into CatalX, Canada’s leading cryptocurrency exchange, and gaining a stake in the expanding cryptocurrency market,” said LiteLink CEO Peter Green. “CatalX has had an outstanding year and continues to grow. In January 2021 alone, the company experienced 80% growth in new registrations quarter-over-quarter and has already clocked in $1.05 million in deposits in the first 21 days of January.

“In the last five days, CatalX has seen $525,000 in deposits, signaling big things to come moving forward as more and more businesses and investors turn their attention towards the crypto market.”

“CatalX has also experienced significant growth in its trading volumes, with average monthly volume hitting $1.37 million in December 2020. In the first 3.5 weeks of January, the trading volume was sitting at $2.85 million and is projected to reach $5 million for January, a 590% increase from its October/November average of $725,000. In the last five days alone, the trading volume was $1.36 million. In short, this company is growing very quickly.

“It isn’t surprising when you look at the growth of the overall market. Bitcoin just closed out one of the biggest years in its history and is expected to continue rallying in 2021 thanks to a surge of new developments coming into the crypto space this year, including the launch of Facebook’s bitcoin-inspired cryptocurrency and the US cryptocurrency regulations.

“Despite recent price volatility, Bitcoin is still up over 290% in the last year and is expected to stay elevated thanks to growing adoption of crypto among payment giants like PayPal and Square and rising interest among institutional investors.

“At the same time, the world’s second-largest cryptocurrency Ethereum has skyrocketed 300% over the last 12 months amid a flurry of interest in decentralized finance (DeFi)—using crypto technology to recreate traditional financial instruments such as loans and insurance with many DeFi projects built on top of the Ethereum network.

“Cryptocurrency is clearly here to stay, so we are very excited about building a strong relationship with Canada’s leading cryptocurrency exchange.”

The Company is at arms-length from CatalX.  Completion of the investment in CatalX is subject to a number of conditions, including, but not limited to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The proposed investment is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

LiteLink would also like to announce that it has engaged North Equities to provide and manage a comprehensive six-month digital media marketing campaign for the Company for a total cost of $100,000. The Company has also engaged Djordje Kovic for a digital media and marketing campaign for four months for a total cost of $45,000.

LiteLink Technologies Inc. is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.

CatalX.io is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, CatalX has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions including Bittrex, Prime Trust, Trulioo and Stably to provide their users with a trusted, secure platform.

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Bitcoin News Blockchain News Cryptocurrency News Ethereum News

EOS Price Prediction

It’s January and today we’re adding our EOS price prediction to the list of coins that we’ve already made a 2021 forecast for. Later on down the page we’ll explain more about EOS and our reasons for being so bullish on it, but you’re here for the price prediction and we’ll jump right to it.

As always, we like to review price forecasts made by others in the crypto industry before we provide our own. This gives you a reference for easy comparison.

Diverse EOS Price Forecasts For 2021

Capital.com shares these EOS price predictions:

According to TradingBeasts, the EOS price in December 2020 will reach a maximum of $3.4, after which the forecasting service expects it to drop back down to $2.7, on average.

In January 2021, its EOS crypto price prediction shows the coin remaining near this level, at around $2.7, later expecting it to experience a slow but steady rise throughout the year, with the coin having the potential to hit a high of $3.9 next December. The average price of EOS is predicted to reach $4.07 in December 2022, and then $5.03 in December 2023.

Wallet Investor also expects the currency’s price to rise in early 2021, although their EOS coin forecast says that the asset will see a price crash in the second half of the year. The event will potentially lead EOS down to $1.2 one year from now.

As for CryptoGround, they have a very bullish EOS prediction. In fact, their EOS forecast claims that the coin will simply keep climbing, with its value reaching $4.17 in six months, $4.7 in one year, and $21.4 by December 2025.

PrimeXBT reports its 2021 price prediction for EOS:

EOS doesn’t have much price history to analyze for repeating patterns, however, the symmetrical triangle the asset has been trading within for its entire lifecycle was preceded by a powerful rise.

After a breakout of resistance and signaling the end of the bear market, EOS could experience another extremely powerful burst upward, returning to prices near $15 per EOS in 2021 or 2022.

Capitalcoin lists these 2021 EOS price predictions:

CoinFan

Coinfan sees EOS reacing $47 in December of this year, after a string of months with constant gains.

TradingBeasts

Algorithm at Tradingbeasts.com has a much more conservative approach to EOS price, putting it at $7 at the end of the year which still represents more than double of its current price.

Cryptoground

EOS will be levitating around $4.70 according to the Cryptoground algorithm.

Lastly, Trading-education.com chimes in with these two EOS price predictions for 2021:

EOS price forecast for 2021

What are crypto experts forecasting for EOS in 2021?

Now that we’ve explained a bit more about EOS, let’s look forward to 2021 and see what some of the top crypto analysts believe could happen to EOS price. According to DigitalCoinPrice, the outlook for EOS is promising: 

As we can see from this chart, DigitalCoinPrice has forecast that the price of EOS will increase before the end of 2020. Its January 2021 predictions place the price at $6.07, which is more than double its current price of $2.64. The platform believes that the price will then rise to $7.49 in February before slipping down to its lowest point of 2021 in April when it could be worth just $5.47. However, this dip won’t last long. For the rest of the year, DigitalCoinPrice predicts that EOS will swing between $6.20 and $7.39, ending the year on a brief bullish trend. 

If you’re wondering ‘is EOS a good investment?’, this outlook is reasonably optimistic. It shows that the price of EOS will go up from 2020, but that its progress won’t be linear throughout the year. Those who like to make short-term trades could see the chart above as an opportunity to cash in on short-term fluctuations — for example, by selling in March, buying in April, and selling again in June.

Let’s move on to the platform WalletInvestor to see whether its predictions align with those given by DigitalCoinPrice. We can see its forecasts represented in this graph: 

At the start of the year, the pattern we can see on WalletInvestor’s graph is not unlike that on the graph from DigitalCoinPrice. Both feature a sharp rise at the start of the year followed by a dip around May, before climbing up again in June. They even give very similar values for its yearly ATH, suggesting that EOS will start to approach prices of just under $8. 

The key difference between these predictions is evident in the second half of the year. Whereas DigitalCoinPrice believes that the price of EOS will ultimately close 2021 on an upwards trend, WalletInvestor foresees a very pessimistic bearish run, with its price crashing down to below $1. This is undoubtedly bad news for any investors wondering ‘will EOS go up?’.

These EOS end of the year price forecasts range from about $1 to $47. That’s quite a range!

Our 2021 EOS Price Prediction

We’ve been repeating ourselves somewhat, but it needs to be said again: there is a 4-year price cycle in cryptocurrencies. This cycle is most likely – or at least partially – caused by the Bitcoin halving cycle, which itself is a four year cycle.

To date, no major studies have examined this cycle in detail.

This cycle has existed the entire life of the cryptocurrency market. While it certainly could disappear, we see no reason for this cycle to suddenly vanish.

This 4 year cycle, which has existed in the cryptocurrency market since day one, suggests that 2021 is going to be another roaring year for crypto prices.

Previous 4 Year Cycle Tops

The previous two topping patterns of the 4 year cycle were 2013 and 2017. The next cycle peak is due around Christmas time in 2021.

Bitcoin has been through two complete 4 year cycles. EOS was released in January of 2018, and thus we don’t have any previous cycle price patterns for reference. Price history only goes back to mid January of that year.

Instead, we are going to look at our projected multipliers for Bitcoin, Ethereum, and Stellar Lumens, and prognosticate that the multiplier for EOS will probably be similar.

What Multiple For EOS?

We are predicting bitcoin to go up in price by a factor of 15.4 times to reach its high at the end of this year.

We are predicting Stellar Lumens to go up in price by a factor of 20 to 74 times to reach its high at the end of this year.

We are predicting Ethereum to go up in price by a factor of 18 to 34 times to reach its high at the end of this year.

EOS started 2021 at a price of $2.64 on January 1.

EOS 30x This Year

We believe that the price performance of EOS this year will mirror that of XLM and ETH. As such, we are going to use a multiplier of 30x.

Using this multiplier, we predict a price high for EOS at the end of this year to be $79.20.

Our EOS 2021 Price Prediction: $79.20

That’s our EOS prediction. While it may seem unreasonably high, let us remind you that at that price the total Market Cap of EOS would only be about $79 billion. As of press time, Ethereum has a total market cap of $150 billion. We believe it is reasonable to forecast EOS could reach this size of a market cap.

An Introduction to EOS For Newbies

EOS is actually the indigenous cryptocurrency underpinning the EOS.IO blockchain protocol. EOS.IO is actually an intelligent contract platform for decentralized applications and protocol designed as an enterprise solution for scaling computer resources, emulating computer processing hardware, storage, and other things. EOS was developed, including several high cryptocurrency projects, to resolve the speed, flexibility, and high fees and scalability issues in both Ethereum and Bitcoin.

EOS is actually based on a white paper released in 2017, created by the Dan Larimer and Brendan Blumer lead Block.One. The EOS first coin offering launched in June 2017 and concluded in the following June in 2018. The ICO broke records for probably the largest length of capital raised in an ICO, pulling in more than $4.197 billion.

EOS is actually a blockchain based decentralized platform which allows the development, hosting, and also execution of decentralized applications (dApps). It’s existed for many years, and also like some other crypto project which focuses on development, rather compared to payments – it was influenced by Ethereum.

Nevertheless, EOS has an objective of being better, faster, more scalable and providing greater plus more complex services, making it Ethereum’s rival.

The project started the ICO of its back on June twenty six, 2017, and it ran until June one, 2018. Before, it was probably the longest ICO of all the time, as well as among probably the most successful. After the year long ICO was concluded, EOS emerged with the raised $4.1bn, which quickly attracted attention to the venture.

Like the majority of ICO projects, EOS was launched on Ethereum’s network, from which it later migrated upon creating its own blockchain of late. Sad to say, the project faced quite a great deal of problems if the time for the mainnet launch of its had arrived, receiving a large amount of criticism. After delays, the mainnet finally discovered the launch in mid June, just to purchase frozen 2 days later.

Nevertheless, despite the rocky start, EOS ultimately managed to pull itself collectively, launching rather a skilled blockchain.

EOS is actually among the more debatable crypto tokens across the crypto sector, but due to the disruptive technology of its might have among probably the largest long term profit potential. The blockchain technology behind the EOS.IO protocol has the potential to substantially alter the future of computer resources and applications and improve upon a number of companies and industries. Because of the effective impact EOS might have, it is long term value might increase exponentially.

Using important analysis to forecast the long term view of the crypto asset, and providing complex analysis from specialists from across the industry, long-term price predictions are able to assist an investor decide whether EOS is actually a great investment decision.

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Blockchain News Cryptocurrency News

Global Crypto Conference Available By Livestream January 27 – 29

Co-hosted by Delio, the Global Crypto Assets & Finance Conference 2021, where virtual asset companies from around the world gather to forecast the global virtual asset market in 2021, will be held online for 3 days from the 27th to the 29th.

The ‘Global Crypto Assets & Finance Conference 2021’ is a conference specializing in virtual asset finance in which global virtual asset finance companies such as Korea, the United States, China, Singapore, and the EU participate in the global virtual asset market. It is a place to share key information on the virtual asset financial ecosystem, as well as to discuss the future financial development direction of the virtual asset market to investors.

This conference is expected to hold a general discussion on virtual asset finance such as derivatives trading, Defi, custody, OTC, wallet, mining, traditional finance, investment, law and institution, and is divided into three sessions with in-depth.

The conference begins with congratulatory remarks from the Chairman Kwan-seok Yoon and Rep. Byung-Wook Kim, who initiated and passed the special money law, from the National Policy Committee.

At the session 1 presentation on the first day, Glenn Woo, CEO of APAC at Ledger, Ben Zhou, CEO of Bybit, Daehoon Han, Analyst at SK Securities, Kevin Huang, founder of Cabin VC, and Justin Kang, head of Delio Strategic Marketing, diagnose the trends and implications of the virtual asset industry under the theme of ‘The Current Status and Prospect of the Crypto Asset Financial Market in 2021’.

In the session 2, the topic is ‘Successful Crypto Asset Investment Plan’, starting with Annabelle Huang Vice President of Amber Group, Vice President of Chain-up Jade Chen, Hexlant CEO Jinwoo Ro, Huobi University Dr. Yu Jianing, former head of Huawei’s chief blockchain scientist Ken Huang, Hyun-woo Lee CEO of Xangle, and Seung-hwan Lee of Coinness, will present on the second day.

In the last session, the topic is “Institutions and Regulations Related to Virtual Real Estate”, Deputy Director Lee Hae-Boong of the Financial Supervisory Service will give a presentation on “Recent Regulations Related to Virtual assets.

Next, Samuel Yim from Kim&Chang talks ‘License requirements for virtual asset service providers in 2021’ and Eric Chan, attorney of ShookLin&Bok law firm talks ‘Regulation of cryptocurrency currency in Singapore’, In-Wook Kwon of IW Tax Office said ‘Tax of Investors and Virtual Asset Businesses’, Louise Shen, CEO of Wenergy,’Characteristics and Differences in the Markets of China, Korea and Indonesia’, Liyan Consulting Founder Gu Yan Xi announces ‘merging of the bank and the securities industry’.

This conference is hosted by Delio and the Korea Crypto Finance Association (KCFA) and will be conducted online in consideration of the Corona 19 prevention. Anyone who is interested in the cryptocurrency market, such as virtual asset investors, the general public, institutions, companies, financial investors can watch it through the official Delio YouTube channel without prior registration.

Justin Kang, Head of Strategic Marketing at Delio, said, “In 2021, the domestic virtual asset market is entering into full-scale institutionalization through the implementation of the Special Money Act. “This conference will share the current status of the virtual asset market and key financial issues with domestic and oversea virtual asset finance companies. It will be a meaningful place to present the message.”

In 2020, the Korea Virtual Real Estate Finance Association (KCFA) held a parliamentary seminar for the ‘enactment of a law specializing in virtual assets’ in cooperation with Democratic Party Rep. Kim Byeong-wook in to discuss the necessity of enacting a law specializing in virtual assets for the development of the blockchain industry. He has represented the voice of the industry.

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Bitcoin News Cryptocurrency News

VBit Technologies Evolves From Solely Mining To Broader Crypto Services

VBit Technologies, one of only a few US-based hosting hardware mining companies, unveiled its new branding that will be more in line with their ongoing business diversification set to roll out in 2021.

After three years of serving as the ultimate symbol of VBit Technologies’ mission, their first logo is being retired. A new group of VBit logos is being introduced- one variation for each of their services within the crypto industry.

“VBit is a brand that moves with the times, and we have evolved dramatically over the few years from a company that was known primarily for selling mining equipment to a name that is connected with broader services within the crypto value chain,” Danh Vo, CEO and founder, said.

They further stated that their mission is to accelerate the financial technology revolution by advocating the incredible potential of blockchain technology to a bigger audience and developing cutting-edge products and services, and they wanted their logos to reflect exactly that. VBit Technologies will remain the leading brand – gathering all VBit specific service brands under its umbrella. 

Mr. Vo shared more details: “Crypto as an industry has now come of age, and is now firmly in the mainstream -it is here to stay and so is VBit Technologies. Our infinity-inspired logo is implicating our stability and futuristic aspirations.”

VBit Mining brand will represent the company’s mining hardware distribution branch – a trusted retailer of the Antminer ASIC miners, the most popular Bitcoin mining hardware globally. VBit Data Centerslogo will be hanging in the rafters of their US and Canada data center facilities, which are servicing thousands of people worldwide, and are on their way to becoming one of the largest bitcoin mining operations in the world.

They hinted that other brands would be presented later this year, as the company plans to develop additional service branches as their “…Ultimate goal is enabling acceptance of crypto-based tools and operations in the everyday lives of people across the globe, and the new logo design marks the start of the new era for VBit.”

VBit Technologies
VBit Technologies
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Blockchain News Cryptocurrency News

FinCen Extends Comment Period For Proposed New Crypto Wallet Rules

The Financial Crimes Enforcement Network (FinCEN) said Thursday it will reopen its proposed rulemaking period for an extra fifteen days for its crypto wallet reporting requirements, and another forty five days for a necessity on recordkeeping and counterparty reporting requirements.

First submitted Dec. 18, 2020, the proposals will require crypto exchanges to store name and address info for customers transferring more than $3,000 in cryptocurrency each day to private crypto wallets, and file currency transaction reports (CTRs) for customers transacting in more than $10,000 each day.

Critics of the rule said it will be technically out of the question for a few projects to comply because smart contracts and author decentralized tools don’t have name or perhaps address info to provide.

Maybe most important, the extension means Treasury Secretary Steven Mnuchin, who’s believed to be spearheading this effort, is going to be out of office by the time the comments period closes, perhaps allowing for FinCEN to better incorporate crypto industry feedback.

In the public notice, FinCEN wrote that the proposed CTR requirements “are essentially equivalent to the existing CTR reporting requirements that apply to transactions in currency,” and called the proposal “vital” to closing loopholes that terrorists or perhaps other malicious actors might use. This’s the part which is going to see a 15 day extension for comments.

FinCEN was less effusive about the recordkeeping and counterparty details, only writing, “FinCEN is actually providing a longer period in light of the relatively greater complexity of those elements of the proposed different issues and rule identified in comments received during the first comment period.”

This was the part that raised the most controversy from the blockchain industry , receiving more than 7,000 comments, with the vast majority of responders criticizing the pace or the rule by which it was being pushed through.

In a statement, the Chamber of Digital Commerce said if the proposed rule was implemented as is, “a series of unintended consequences that raise serious privacy concerns will have resulted from this rushed rulemaking process.”

The extension does not mean the rule won’t be implemented; it is still entirely possible that FinCEN is going to choose to run with the rule after the last version is actually published.

The clock for the comment period restarted when the document was posted in the Federal Register, the nation’s logbook, which was done yesterday, Friday, January 15.

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Blockchain News Cryptocurrency News Ethereum News

Creator Of First ICO Developing Blockchain DeFi Platform For UBI

Universal Basic Income (UBI) Planned In 30 U.S. Cities

UBI is increasingly being recommended as a possible strategy to help mitigate the economic consequences of an extended coronavirus pandemic.

Almost all the UBI programs currently being piloted propose direct, unconditional cash payments to citizens, a lot like how many welfare payments are actually distributed today.

Based on data from Welfare and Health Studies at the Cato Institute only 30% of funds allocated to government welfare programs end up in the hands of the people who benefit from it. For private charities, an average of 82% of funds reach those that want it, while fund-raising and administrative expenses account for the remaining 18%. If numbers that are very much the same are actually assumed for UBI programs, 70% of funds will go towards a UBI program’s administrative expenses rather compared to its intended recipients.

The use of cryptocurrency and blockchain technology is able to transform how UBI is actually implemented, making it cost effective, most importantly, and, secure, transparent. The primary benefit to using blockchain technology will be the elimination of bureaucracy, resulting in 100% of funds reaching UBI recipients.

Karma Finance, founded by Antoine Sorel Neron, the designer of the first Initial Coin Offering (ICO) in cryptocurrency, is actually developing a new Decentralized Finance (DeFi) platform that is going to allow users to choose either to get a weekly UBI payment or perhaps to participate in the community reward pool. Owners participating in the reward pool is going to be strongly incentivized to provide the funding required for the UBI program itself.

Decentralized finance and UBI are actually a natural fit, particularly as we are working to build economic resilience in cities across the country,” said Neron, who grew up on Chicago’s South Side. “Decentralized finance is actually meant to produce a far more inclusive and open financial system for everyone. We might not have the ability to make it happen for the world’s billion plus poor just yet, but at least we are able to build a practical solution to help regular folks who’ve been affected by COVID, even as government budgets start to be more strained. This’s exactly where the public is able to step in to help.”

Karma Finance is going to be the first DeFi application built for UBI.

About Karma Finance

Karma Finance launched on August thirty one, 2020, with the goal of providing a privately funded Universal Basic Income solution via blockchain and smart contracts. A community based project aimed at empowering users impacted by COVID and other economically devastating events, it uses a unique decentralized finance (DeFi) protocol which allows Karma’ angels’ to stake Ethereum cryptocurrency for the benefit of other users that receive direct UBI payments from the product.

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Blockchain News Cryptocurrency News

Pando Coin Launched On Bittrex

Pando Software Inc., whose Pando Browser ad blocking app has recorded more than 100,000 cumulative downloads on the Google Play Store within 3 weeks, has effectively launched their Pando Coin (PANDO) on the U.S. based exchange Bittrex and is currently available for purchase.

Pando Browser is actually a Web 3.0 browser which sports a large list of benefits when in contrast with existing browsers. Owners can simply make a decision to display or even block advertisements based on the preferences of theirs, all the while dealing with the information of theirs in a safer browsing environment. Sending and paying cash through the internet browser is made simple with the integrated Pando Browser wallet. Expansion into messengers and web browsers makes perfect sense strategically for the business to further recognize the perception of a “Transparent Internet.” The Pando Browser is strongly linked with a variety of business models and also has developed strong synergies in the area.

Pando Coin (PANDO) has also announced plans to grow the Pando ecosystem through advertising and technology growth cooperation based on numerous partnerships in Korea and abroad. Entering the U.S. industry through listing on the Bittrex global exchange was a big stepping stone to more development.

About Pando

The Pando Coin was engineered to make a groundbreaking new means of Rewards culture to the browsing environment. The world as we realize it’s always changing. Based on the present changes taking place in the fast shifting worldwide consumer and business engineering, we are aware that web culture is also changing. Blockchain technology is impacting the manner in which we have the web. PANDO coin is actually engineered to enable the subscribers of its to feel maximum financial benefits with transparency and the privacy protection level they deserve. Pando intends that the products of theirs like the internet browser and messenger will help support great change in the crypto community.