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Bitcoin News Cryptocurrency News

Crypto Fear And Greed Index Rebounds From 40

Two days ago, on January 22, the Crypto Fear and Greed index sharply dropped to a value of forty, moving the market sentiment from “Extreme Greed” to “Fear.” The index dropped to this level for the first time since October 3, 2020, when Bitcoin was trading at around $10,500. Today the index has recovered to a level of 70.

Before dropping to forty, the Crypto Fear and Greed Index topped at ninety five on January 6, demonstrating that investors turned extremely greedy amid Bitcoin hitting the all time highs about $42,000 on January 8. The Bitcoin price subsequently had a significant correction, dipping to as low as $28,750 three days ago, on January 21.

The Crypto Fear and Greed Index has been providing a reading of’ Extreme Greed’ for months now. Often considerable Bitcoin price pullbacks haven’t dampened the enthusiasm. For the whole month of December, as well as the outset of January, just about all readings had been above 90/100. Nevertheless, after the significant correction earlier this month, scores haven’t exceeded ninety.

Back in March of 2020, the index spent several weeks hovering around the extreme fear level of 10. This recent pullback to 40 is considered a healthy sign by market technicians who warn against overly bullish buying activity which can lead to a market becoming “overbought”.

Now that the excessive bullish sentiment has been cleared from the market, conditions are more favorable for Bitcoin to resume it’s climb.

How The Crypto Fear and Greed Index Works

Volatility is used by the indicator, social media engagement, market dominance, as well as Google Trends to assess investor sentiment towards the cryptocurrency.

Like the fear and greed indexes in the classic markets, the Crypto Fear and Greed index is actually a tool which measures 2 of the main emotions that affect just how much investors are actually ready to purchase cryptocurrencies such as Bitcoin.

The extreme fear level could be an indication that investors are very worried, which may suggest an excellent buying opportunity. In comparison, when investors are actually getting overly greedy, it might be an indication that the industry is actually ready for a correction.

The Crypto Fear and Greed Index is able to separate the bullish and bearish conditions of the market by measuring the levels of perceived demand and supply of the various buyers and sellers. When the sentiment of greed is prevalent, the index measures how high the prices are when compared to other times. When the sentiment of fear is prevalent, then the prices are lower than other times.

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Blockchain News Cryptocurrency News

OKEx Releases Two New Decentralized Apps

OKEx, a world-leading cryptocurrency spot and derivatives exchange, is delighted to announce that the team behind the open-source blockchain OKExChain has launched two decentralized applications, OKEx Swap and OKEx Farm, on the protocol. Both these new features, along with the opening of the OKT/USDT Farm Pool commenced today at 10:00 am UTC. 

OKT withdrawals also opened at the same time, giving OKT holders the ability to stake OKT along with USDT in Swap to earn OKT-USDT LP tokens. These can then be used to stake in the OKT-USDT Farm Pool for additional earnings, such as mining new OKT.

The OKEx Swap and Farm initiatives have been enabled by the initial stability testing of the OKExChain mainnet that generated tens of thousands of OKT block rewards (according to OKExChain’s block reward rules). These tokens have not yet been allocated, meaning that OKT holders can unlock significant rewards by mining OKT on-chain.

The size of the reward will be voted on by the OKT/USDT whitelist pool on Jan. 26 at 10:00 am UTC. If the vote is approved, a snapshot will be taken according to the blocks that voted in favor, and the accumulated OKT will be distributed according to the proportion of OKT-USDT LP tokens that they had staked in the OKExChain Farm pool when the proposal was approved.

The amount of OKT that users can mine is equal to the number of tokens staked divided by the total number of tokens in the Farm Pool, multiplied by the cumulative amount of OKT. After the cumulative OKT allocation is complete, users can continue to mine through the OKT-USDT Farm Pool. Staking starts as soon as the Farm function is launched. 

“The phased launch of OKExChain is moving along at a very encouraging pace. Already after completion of the initial stage, we have seen its native token, OKT, commanding an all-time high of $86.54 in its first days of trading on the OKEx platform. We’re thrilled that the team behind OKExChain has been able to provide OKT holders with even more benefits through the Swap and Farm initiatives and to see OKExChain expanding its utility,” commented OKEx CEO Jay Hao.

In addition to staking and mining rewards via OKEx Swap and Farm, OKT provides users with further immediate utility and benefits, including voting rights and transaction-fee payments for decentralized exchanges and other DeFi applications built on the network. OKT is currently available to trade on the OKEx platform with zero fees on all trading pairs for the first 30 days.

For further information on OKEx Swap and OKEx Farm DApps, please visit the OKEx Support Center here.

OKEx is a world-leading cryptocurrency spot and derivatives exchange, OKEx offers the most diverse marketplace where global crypto investors, miners and institutional traders come to manage crypto assets, enhance investment opportunities and hedge risks. OKEx provides spot and derivatives trading — including futures, perpetual swap and options — of major cryptocurrencies, offering investors flexibility in formulating their strategies to maximize gains and mitigate risks.

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Bitcoin News Blockchain News Cryptocurrency News

Bitcoin Association Offers Free University-Style Bitcoin Courses

Bitcoin Association, the Switzerland-based global industry organization that works to advance business with the Bitcoin SV blockchain, today announces the official launch of Bitcoin SV Academy – a dedicated online education platform for Bitcoin, offering academia-quality, university-style courses and learning materials.

Developed by Bitcoin Association, Bitcoin SV Academy has been created to make learning about Bitcoin – the way creator Satoshi Nakamoto designed it – accessible, accurate and understandable. Courses are available in their entirety online and offered in three distinct streams:

Bitcoin Theory – covers the design of Bitcoin as a system as prescribed by Satoshi Nakamoto.

­­Bitcoin Development – provides vanguard information for application developers building with Bitcoin, including tools and techniques for leveraging the unique features of the network.

Bitcoin Infrastructure – looks at the underlying architecture of both the Bitcoin network and ledger, including how the network is constructed and scales.

Within each stream, courses are offered at introductory, intermediate and advanced levels, following a progressive structure designed to build on the concepts and knowledge introduced in the preceding course. At the conclusion of each course, participants will undertake an online assessment to test their understanding of the material, with certification available to those who pass.

The first course to launch, the introductory module of the Bitcoin Theory stream, is now available for enrollment at www.bitcoinsv.academy. Introductory level courses will be offered free of charge for the foreseeable future, part of Bitcoin Association’s commitment to making Bitcoin education available to as wide of an audience as possible.

Speaking on today’s announcement, Bitcoin Association Founding President Jimmy Nguyen, commented:

‘Education is a cornerstone of the work we do at Bitcoin Association, as we help businesses and individuals alike understand the Bitcoin system envisioned by Satoshi Nakamoto, and how Bitcoin SV is the only project implementing that Satoshi Vision. Bitcoin SV Academy will be a key component of that work moving forward, providing a platform to deliver a robust curriculum tailored to all levels of ability and knowledge, as we educate the world about just what’s possible with the power of the original Bitcoin protocol.’

Also commenting, Steve Shadders, Technical Director of the Bitcoin SV Infrastructure Team, said:

“The most important piece of infrastructure that Bitcoin can have is access and availability of education – not only does it broaden the pool of talent available to work and build with Bitcoin, but it also helps to spread awareness of what Bitcoin as an entire technology system can do and is truly capable of. The launch of Bitcoin SV Academy is a huge step forward in making meaningful change in this area – and having taken the first course myself, I can confirm that there really is something for everybody to learn in there.”

About Bitcoin Association

Bitcoin Association is the Switzerland-based global industry organization that works to advance business on the Bitcoin SV blockchain. It brings together essential components of the Bitcoin SV ecosystem – enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others – working alongside them, as well as in a representative capacity, to drive further use of the Bitcoin SV blockchain and uptake of the BSV digital currency.

The Association works to build a regulation-friendly ecosystem that fosters lawful conduct while facilitating innovation using all aspects of Bitcoin technology. More than a cryptocurrency and blockchain, Bitcoin is also a network protocol; just like Internet protocol, it is the foundational rule set for an entire data network.  The Association supports use of the original Bitcoin protocol to operate the world’s single blockchain on Bitcoin SV.

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Blockchain News Cryptocurrency News

Victoria VR Initial Exchange Offering Of Its ERC-20 Cryptocurrency Token Now Available

VICTORIA VR Virtual reality is a completely unique platform, designed to connect all virtual reality platforms. VICTORIA VR brings forth a true virtual revolution with its photo-realistic graphics and innovative approaches. It provides users with a decentralized photo-realistic virtual world that takes full advantage of the amazing blockchain capabilities, with all the benefits that flow from it.

The VICTORIA VR (VR) token is currently available at pre-sale as an IEO on the DEXFIN Exchange. Full details can be found on the VICTORIA VR website, where you can also download the VICTORIA VR White Paper.

Besides stunning virtual graphics, decentralization and blockchain, VICTORIA VR also offers a passive income of 20% per year from staking. Other benefits are listed in the overview below.

The Virtual Reality of VICTORIA VR Gives You the First Photo-realistic World Without Limits

The virtual reality market is flourishing and could exceed $70B by 2024. Virtual reality creates completely new possibilities for its users. We live in an amazing world that is constantly progressing and becoming faster every day thanks to newer and more innovative technologies. However, we are limited. We are limited by the laws of physics, our human body, and time. Virtual reality offers you a world where there are no such limitations. Imagine a world where:

  • You don’t have to travel for an hour every day to get to school or work.
  • You don’t have to fly across the continent for a personal or business meeting.
  • You can enjoy the concert, theatre performance or an exhibition together with millions of other people from all corners of the world.
  • You can easily visit any place and be anything.
  • No one can dictate the opening hours of your business, where no one can close your business, where no one can take anything from you, and where there is no lockdown.
  • Where you can’t get infected by disease, where you can’t get hurt and where you can’t die.

VICTORIA VR: A Decentralized World Using the Blockchain

VICTORIA VR is a Massive Multiplayer Online (MMO) virtual world with photo-realistic graphics built on the blockchain. Users mine the VR cryptocurrency by their activity in the virtual reality of VICTORIA VR. They can trade lands and build their Internet-connected projects and applications, acquire and create unique assets, explore a world full of user created content, complete challenging tasks and play games.

All assets are registered here on the public blockchain. The VR world is fully owned by the users and the community, which also creates rules for the entire community, because the world of VICTORIA VR is a DAO (Decentralized Autonomous Organization).

Thanks to VICTORIA VR, you can materialize your most secret wishes and experience your life’s greatest desires. You can share everything with everyone here. And you always have unlimited possibilities – when working, creating, discovering, trading, and playing.

VICTORIA VR uses the proven Unreal Engine for development. In the current extreme world situation (lockdown, economic crisis 2020, covid-19), photo-realistic virtual reality is becoming a sought-after solution by companies, players and ordinary users alike.

VICTORIA VR Cryptocurrency – The Driver of the Virtual World

VICTORIA VR (VR) is an ERC-20 token and is the principal currency of VICTORIA VR. The token also serves as a reward for active users and for those who use staking. The total supply of the VR is set at 168 billion. At this time, 78B VR is available for pre-sale as IEO (Initial Exchange Offering). Unsold tokens serve as a reward for the future users.

  • Pre-sale for 0.00000006 BTC (15/12/2020 – 31/01/2021).
  • Pre-sale for 0.00000009 BTC (01/02/2021 – 28/02/2021).
  • Pre-sale for 0.00000012 BTC (29/02/2021 – 16/03/2021).
  • Listing on the DEXFIN Exchange and other exchanges (18/03/2021).

Staking With 20% APY and Trading in Virtual Reality

Staking is similar to keeping money on your term deposit, but with a much higher appreciation. You just hold your crypto assets at the DEXFIN Exchange, creating an interesting source of passive income. With the VR token, you get 20% per year from staking.

Thanks to VICTORIA VR, you can also discover novel ways of trading in the virtual world and new business opportunities. When trading in virtual reality, users can see and monitor all the necessary information at once – social networks, prices of popular cryptocurrencies, graphs, indicators, and more.

VICTORIA VR: Based in the Crypto Hub of Europe

VICTORIA VR is based in Prague, Czech Republic, where quite a few successful games were created, and which is the home of several notable inventions in the field of crypto. Some examples include the first mining pool (SlushPool) which started in the Czech Republic back in 2010 and the world-famous Trezor hardware wallet. The Czech Republic ranks among one of the most crypto-friendly countries in Europe.

With its photo-realistic graphics and innovative approaches, VICTORIA VR brings in a real virtual revolution! VICTORIA VR world is created and owned by its users and is designed to constantly motivate the users to activity and to algorithmically create quests, and thus, to live without its creators. You can acquire and create unique assets here, which will be, because of their usefulness, sought after by companies, enterprises, and individual users alike.

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Bitcoin News Cryptocurrency News

Bitcoin Easily Soars Past $31,000

The New Year’s Gift That Keeps On Giving?

Update 2: As of 1:56 p.m. EST, Bitcoin has topped $33K

Update: As of 11:09 a.m. EST, Bitcoin has topped $32K

The price of bitcoin has crossed a new all-time high on Saturday morning (EST), spiking over $31k per coin. At around 8:43 a.m., bitcoin’s value climbed to $31,520.20 per unit with roughly $12 billion in global trading volume.

Bitcoin (BTC) has surpassed the $31k price zone, and has jumped very close to the $32k range. At around 8:45 a.m. (EST), the crypto asset spiked to $31,520.20 per bitcoin reaching another all-time price high.

BTC is up 5% during the last 24 hours, 15% for the week, 58% during the last month, and 187% for the 90-day span. Over the course of the last 12 months against the U.S. dollar, bitcoin (BTC) has gained 315%.

The crypto asset’s hashrate on Saturday morning is hovering around 135 exahash per second with 18 mining pools dedicating hash at the Bitcoin blockchain. The mining operation F2pool captures 18% of the hashrate or 26.31 exahash per second.

Lots of crypto supporters celebrated bitcoin’s new price rise. After the $30k crossing, Holger Zschaepitz said: “Bitcoin tops 30k for the first time ever only 17 days after the cryptocurrency crossed 20k.”

Another individual wrote: “Well, bitcoin breaking $30k is [definitely] a solid way to start the year.”

A number of bitcoiners wholeheartedly believe the price of BTC will climb much higher than the $30k handle. “Don’t sell your sats to mega institutional investors at $30k,” tweeted Phil Geiger. “They have far more resources than you and they will happily pay you $200k for a bitcoin.”

The onchain researcher, Willy Woo, has said people shouldn’t stress investing in bitcoin at this price when the price could very well reach $300k. “If you’re looking for an entry to HODL Bitcoin long term, don’t nickel and dime an entry,” Woo tweeted. “You’re not going to sweat a few thousand dollars of non-perfect entry when it’s $100k, $200k, $300k in a year.” Woo added: The main bull phase is here. Capital inflows [have] gone nuts.

Our own analysis indicates a Bitcoin price prediction in the range of between $379,825 and $1,329,389 by the end of 2021.

Bitcoin Tops $32,000
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Cryptocurrency News

Apple Co-Founder Wozniak Brings WOZX Tokens To 3rd Exchange

EFFORCE, the first platform leveraging the power of blockchain technology to democratize access to energy efficiency projects and financing opportunities, announces today that its WOZX tokens are now listed on the Gate.io exchange. With tokens available on Gate in addition to HBTC and Bithumb Global exchanges in a span of only 20 days, EFFORCE is on a fast trajectory to get its utility tokens out to millions of potential contributors quickly.

Steve Wozniak is co-founder of the company that is striving to transform and disrupt the $250B energy efficiency market. Using the EFFORCE platform, companies can sign up to undertake energy efficiency measures at no cost, allowing them to reallocate their liquidity to more critical tasks. The projects are funded through EFFORCE’s decentralized platform by large and small contributors who purchase WOZX utility tokens and are rewarded through the fractionalization of the transferable energy savings.

The company plans to add more exchanges for its tokens as its first projects become available to the general public on the platform in Q1 2021.

“Energy efficiency projects offer a major opportunity to mitigate climate change and provide a direct reward mechanism, so we are excited to offer more tokens to more people around the world as EFFORCE takes off,” said Jacopo Visetti, Project Lead and Co-Founder at EFFORCE. “Since our first listing, we have moved quickly along our roadmap. We are now pleased to be on a third exchange. Public support for our mission has been massive, reflecting the value of bringing energy efficiency improvement projects to a broad audience.”

With China and Europe making strides in efficiency and with the U.S. ready to rejoin the Paris Agreement and restart beneficial climate change policies, EFFORCE will give everyone the chance to participate in projects that bring about meaningful environmental change.

By using the blockchain and utility tokens, EFFORCE eliminates many of the challenges impeding progress in the energy efficiency space. The platform broadens business access to energy improvements as well as public access to energy efficiency financing. Now, EFFORCE will make it possible for any contributor, not just those with access to large amounts of capital, to participate in these important projects. Contributors will also be able to fund projects across borders without being limited by regulations on domestic or local opportunities.

Energy efficiency projects are an important way to improve the carbon footprint and lower energy consumption without changing people’s habits. As Steve Wozniak has said, “We can save the environment simply by making more energy improvements.” Today’s market for energy efficiency projects is very large, but the potential is even greater. To achieve the International Energy Agency’s Efficient World Scenario, the sector still must double the size of investments to $580 billion by 2025.

EFFORCE is led by a team of veteran executives who have been successfully involved with the energy sector for more than a decade. Visetti previously founded Milan-based AitherCO2, with annual revenues of $240 million and no outside investment funding. EFFORCE is only the second company Wozniak has co-founded, the first being Apple 45 years ago. He was attracted to EFFORCE for its unique approach to democratizing energy efficiency.

One of the most promising innovations in regards to energy has to be the cryptocurrency approach. Many people have already begun to see the potential of this new technology holds for the future of renewable energy efficiency. Energy efficiency experts have been using this method of collecting and organizing information in order to make it possible for people to benefit more from their energy use. The main idea is that there are too many wires and parts in a typical electrical system that can lead to lost efficiency, expensive repairs, and even human error. By using the blockchain approach, an entire chain is cut off at the point of use so that the flow of data is guaranteed and constant. With the increased efficiency, this method offers, it may just be the answer to a very important energy question.

Unlike traditional networks, the blockchain approach doesn’t allow data to be lost because of a broken link. Also, this form of the network doesn’t suffer from communication failure between nodes like other networks do because every node is connected to every other node in the network. This form of energy efficiency makes it easier for any engineer or scientist to track and monitor every single energy transaction going on throughout a building or network of buildings. Even the smallest changes in the amount of electricity being used can result in huge savings for businesses and consumers alike.

Not only does this form of energy efficiency to help cut back on energy costs, it also saves a lot of time and money in the long run. Every time there is a loss in energy efficiency, it takes a bit of time for the system to learn from its mistake and be able to work efficiently the next time around. However, by continuously monitoring each transaction, the block chain learns from these mistakes and adjusts the next time around, getting the job done much faster than it would without the lessons learned the last time around. All in all, the blockchain approach to energy efficiency not only helps cut down on energy costs and the amount of damage to the environment; it also saves time and money, which benefits us all.

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Bitcoin News Blockchain News Cryptocurrency News

Australian Mining Firm Gets Purchased By Wize Pharma, Inc.

Wize Pharma, Inc. (OTCQB: WIZP), a clinical-stage biopharmaceutical company focused on the treatment of ophthalmic disorders, and Cosmos Capital Limited, a leading digital infrastructure provider based in Sydney, Australia, today announced that they have entered into a bid implementation agreement whereby Wize has agreed to make an off-market takeover offer to acquire all of the outstanding shares of Cosmos, subject to satisfaction of various closing conditions set forth in the BIA, resulting in Cosmos becoming a wholly-owned subsidiary of Wize.

“We are excited about the Wize Cosmos transaction,” stated Noam Danenberg, CEO of Wize. “The Cosmos team brings a proven track record, experienced management and logistics capabilities within the Bitcoin mining industry. Consistent with our focus on maximizing value for our shareholders, this transaction provides a continuing interest in our LO2A biomed activity, through the creation of a contingent value right, while providing exposure to Cosmos’ Bitcoin mining operations.”

James Manning, CEO and founder of Cosmos, commented, “Through this transaction we are excited to be providing public markets access to our digital infrastructure business and have enjoyed working with the like-minded Wize team throughout this process. Becoming a part of a publicly traded company is central to our continued growth and will allow us to accelerate our expansion plans moving forward.”

Key Transaction Details

Under the terms of the BIA, Wize will commence an off-market takeover offer under applicable Australian laws to acquire all of the outstanding shares of Cosmos (the “Offer”) in exchange for 38.78 shares of Wize common stock and 22.33 warrants (each to acquire one share of Wize common stock) (the “Milestone Warrants”) for each Cosmos share (subject to a minimum tender of at least 90% of Cosmos’ outstanding ordinary shares). Subject to certain exceptions, the Milestone Warrants will become fully exercizable into Wize common stock provided Cosmos warrant holders retain the Wize stock issued to them until December 31, 2021 (the “31 December Milestone”).

Upon completion of the transaction, and assuming all of the holders of Cosmos shares accept the Offer, Cosmos shareholders will own approximately 81.3% of the outstanding common stock of the combined company (87% if all of the Milestone Warrants become fully vested), while Wize existing shareholders will remain the owners of approximately 16.3% of the outstanding common stock of the combined company (11.1% if all of holders of the Milestone Warrants satisfy the 31 December Milestone and the Milestone Warrants become fully vested), each on a fully diluted basis and including warrants to be issued to Wize’s financial advisor to the transaction.

Following the targeted closing of the transaction in the first quarter of 2021, and based on Wize’s 60 day VWAP of US$0.143 on December 29, 2020 (and assuming that all the Milestone Warrants become fully vested), the combined company is expected to have a market capitalization of approximately US$75.75 million.

Upon completion of the transaction, pre-closing Wize security holders will receive one contingent value right (“CVR”) for each share of Wize held on the record date. Each CVR will entitle the holder to a pro rata share of any consideration that may be received in connection with Wize’s existing LO2A business, subject to transaction expenses and customary deductions as detailed in the CVR agreement.

Following completion of the transaction, it is expected that the combined company will have approximately US$5 million in cash and cash equivalents. Cosmos will retain its experienced management team, with Cosmos’ CEO and founder James Manning assuming the role of CEO of the combined company. The Board of Directors of the combined company will consist of three members designated by Cosmos and one member designated by Wize, and the combined company will seek shareholder approval to be renamed Cosmos Capital, Inc. (or similar name), and to effect a reverse share split of the combined company’s common stock.

Independent Expert Report

The BIA provides that Cosmos will obtain an Independent Expert Report to opine on whether the transaction is fair and reasonable to the shareholders of Cosmos not associated with Wize. The IER will be provided to Cosmos shareholders with the Target Statement to be sent to Cosmos shareholders.

Unanimous Recommendation of the Cosmos Board

The Cosmos Board of Directors have carefully considered the BIA and the terms of the Offer and unanimously recommend that, in either the absence of a superior proposal or the IER concluding that the Offer is neither fair or reasonable, Cosmos shareholders ACCEPT THE OFFER once commenced and have indicated that they will ACCEPT THE OFFER in respect of all Cosmos shares they own or control.

Closing

The closing of the transactions contemplated under the BIA and the PIPE agreements is subject to the satisfaction of certain customary closing conditions, including 90% minimum acceptance of the Offer by Cosmos shareholders, and is expected in mid to late first quarter of 2021. The full conditions to the Offer will be set out in the Bidder Statement which Wize expects to dispatch to Cosmos shareholders as soon as practicable.

What exactly is “bitcoin mining” and how does it effect the buyers of the cryptocurrency? Basically, when you buy a large amount of bitcoins, you are purchasing large chunks of virtual currency that is completely virtual (you don’t have to actually touch it to feel its value) and is stored within the computer of the buyer called a “miner”. The miner “mines” the currency and that process is what makes the coins valuable. Usually, the more work that is done to secure the coins, the more valuable they become.

But how does the value of a unit of currency get created? This is simple – it’s all about supply and demand. When there are more buyers than sellers, the price of that unit of currency rises and vice versa. So, with that being said, if there aren’t enough people mining for bitcoins, you can expect the price to rise because there will be less people willing to pay for them, which in turn will drive up the price of each unit. It is this process that people call “bitcoin mining” – this is where some people use specialized ASIC computers to attempt to “mine” the currency by solving mathematical problems.

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Cryptocurrency News Ethereum News

Japanese Tech Giant Gets U.S. Approval For JPY Stablecoin

GMO Internet Inc., the Tokyo-based Internet conglomerate, has won approval from the New York Department of Financial Services to establish a limited purpose trust company, GMO-Z.com Trust Company, Inc. (“GMO Trust”) and issue the world’s first regulated JPY-pegged stablecoin (Ticker: GYEN).

To win approval for the trust, the company had to meet stringent requirements for its cybersecurity programs, as well as meet federal standards for anti-money laundering and economic sanctions. The approval allows the company to launch both JPY-pegged stablecoin (Ticker: GYEN) and USD-pegged stablecoin (Ticker: ZUSD). Both GYEN and ZUSD can be purchased and redeemed directly from GMO Trust. In addition, GMO Trust has partnered strategically with digital asset exchanges that operate globally to enhance the accessibility and liquidity of the tokens.

There are currently other regulated stablecoins, but none are pegged to JPY. Therefore, GMO Trust will take the lead in launching the first regulated JPY-pegged stablecoin along with the US dollar-pegged stablecoin in the U.S., and to be available globally, in January, 2021. These digital assets can be leveraged by institutional firms and retail users for trading, institutional hedging, arbitrage, settlements, and payments. For more information on GMO Trust, please visit https://stablecoin.z.com/

The stablecoins will:

  • Be 100% fiat-backed and always redeemable 1:1.
  • Be available on exchanges globally among the most liquid digital assets.
  • Be powered by Ethereum‘s leading blockchain-based technology.

A monthly attestation report will be disclosed by certified public accountants to verify the availability of assets to support the value of the stablecoins. GMO Trust will issue and redeem GYEN and ZUSD directly to reduce fees while improving security and transparency.

GMO Internet Group has been a global market leader in the Internet infrastructure, Internet finance and digital asset space since its inception in 1991.

It operates the world’s largest online FX trading platform, claiming the top global spot in trading volume within the FX space for seven consecutive years. It also operates a Japanese Financial Services Agency (FSA) regulated Internet bank. In 2017, it launched a digital currency exchange regulated by the FSA and a large Bitcoin mining operation. In 2018, it began research and development for the launch of GYEN.

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Bitcoin News Blockchain News Cryptocurrency News

Distributed Ledger, Inc. Acquires Crypto Mining Tools

Today, Distributed Ledger, Inc. (DLI), a blockchain technology service provider, announced the brand and business acquisition of North American-based cryptocurrency mining hardware supplier, Crypto Mining Tools (CMT). Cryptomining.tools is a well-known industry leader in cryptocurrency mining hardware brokerage and the creator of many trusted free online tools for miners.

These tools include a hosting provider directory, a bitcoin mining profitability calculator, an in-depth ASIC mining hardware comparison chart, educational YouTube videos, and the Crypto Mining Tools Podcast. With this acquisition, DLI is excited to welcome CMT’s founder, Scott Offord, as the company’s Director of Asset Management. Scott will leverage this new role to continue the outstanding work and relationships he has built with Crypto Mining Tools.

  • Re-branding of Crypto Mining Tools
  • Re-launch of the Crypto Mining Tools Podcast
  • A new look and message behind DLI’s Fracking Miner
  • Begin scaling services for CMT’s customers

About Distributed Ledger, Inc.: DLI is a blockchain technology company with offices throughout the Southeastern United States, including AlabamaGeorgiaTexasArizona, and Wisconsin. Contact info@distributedledgerinc.com for more information.

About Crypto Mining ToolsCrypto Mining Tools is a well-known cryptocurrency mining hardware, supporting equipment supplier and colocation broker.

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Blockchain News Cryptocurrency News

World’s Largest Palladium Producer Tokenizes The Metal

A New Era Of Tokenized Transactions

The Global Palladium Fund, established by PJSC MMC Norilsk Nickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has issued the first tokens involving metal contracts to its major industrial partners Traxys SA and Umicore SA, setting the stage for the new era of digital transactions, which will optimize supply chain efficiency and transparency.

The Global Palladium Fund has issued the digital instruments via the global tokenization platform Atomyze, backed by a pool of international investors.

The first two clients, the world’s leading commodity actors and Nornickel’s longstanding partners – Traxys and Umicore – arrived after the mining giant announced its strategy to integrate into a digital ecosystem designed to give ultimate provenance and traceability to its metals.

Anton Berlin, Nornickel’s Vice President, Sales and Distribution, commented: “Nornickel is developing and setting new standards by digitalizing market transactions. The tokens issued by the Global Palladium Fund on the Atomyze platform will allow it to deliver Nornickel’s products to customers in a more efficient and transparent way. We are confident that it will provide the industry with the necessary tools to guarantee responsible sourcing.”

Alan Docter, Traxys Chairman commented: “The Atomyze tokenization platform has the potential to revolutionize the industrial commodity market. We are excited about this opportunity to be one of the first to use the tokenization platform, and believe that this new ecosystem can make our daily operations more flexible, sustainable and profitable.”

Bernhard Fuchs, Senior Vice President, Precious Metals Management and Umicore Marketing Services, added: “We recognize the value that the Atomyze platform is delivering: efficiency, cost optimization and flexibility that tokenization brings along – it’s a leap forward towards new levels of business efficiency as well as multi-layer-documentation, and we are looking forward to set off on this innovative path.”

Atomyze uses Distributed Ledger Technology (DLT) to tokenize assets in digital form providing accessibility, reducing costs, and increasing transparency. GPF, the platform’s first client, is issuing tokens covering the whole range of metals produced by Nornickel – via the Atomyze tokenization platform operated by Tokentrust AG.

Palladium is a precious metal, the silvery-white, malleable kind of the platinum group of elements. It has the atomic symbol Pd and is the most abundant element of the elementium group. It was first discovered by the English scientist, William Hyde Wollaston, from an examination of minerals gathered on the Indian Ocean Island of Mauritius. Palladium was first used as a metal in the 1820s, mainly to conduct the electrical currents that were then fashionable. 

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Cryptocurrency News

Cryptocurrency Funds See Record Inflows

Outsized returns on emerging cryptocurrencies fueled the year’s top-performing U.S. exchange-traded funds as the coronavirus pandemic upended global markets. Overall, those who played blockchain assets were rewarded handsomely. The year’s best fund, Grayscale Ethereum Trust, which holds Ethereum, the world’s second-largest cryptocurrency after Bitcoin, soared 333.7% for the year through Dec. 9.

Voyager Digital Ltd., a Canadian publicly traded, licensed crypto-asset broker that provides investors with a turnkey solution to trade and invest in crypto assets, just recently announced milestone growth, surpassing $200 million in assets under management (AUM), up 100% from $100 million at the beginning of November, and up 40x in the past 12 months.

This accelerated growth in AUM is led by unprecedented levels of net daily deposits, as the crypto bull market powers forward. With over $50 million in total net daily deposits since the beginning of November, the firm averaged nearly $1 million of net daily deposits for this same period.

Institutional money is beginning to flood into the sector.

“Voyager is firing on all cylinders as we enter 2021,” said Steve Ehrlich, Co-founder and CEO of Voyager. “The rapid pace of increase in net daily deposits is a testament to the success of our platform and the support from our community. AUM is a key metric for the performance of our business, and we are excited that users have placed their trust in our platform which allows us to generate greater returns and thereby reinvest to bring new products to market faster, including our desktop platform, debit and credit cards, and margin offerings.”

2020 has been a milestone year for the crypto-asset space with many well-known institutions either diversifying into Bitcoin or providing greater access to digital assets. The Company believes this continued momentum confirms that digital assets are a legitimate, standalone and investable asset class that is here to stay, providing investors with the ability to combat inflationary pressures from continued debasement of traditional fiat currencies. This evidence suggests that digital assets are starting to rival more established asset classes such as equities, fixed income, commodities and precious metals, in particular the $9 trillion traditional gold market.

“We’ve positioned Voyager with a leverageable technology platform ripe for expansion both internationally and product wise, with Canadian and European expansion planned in 2021,” continued Mr. Ehrlich. “We look forward to bringing Voyager’s regulatorily compliant and transparent platform to the masses in 2021.”

Cryptocurrency funds are a new breed of investment vehicle which parallels more traditional portfolio investments, such as mutual funds, but are largely made up of digital commodities. As a result, they operate by somewhat different rules than their traditional progenitor counterparts. 

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Blockchain News Cryptocurrency News

The Self-Governing Universal Passport Project

The events of 2020 have created a more compelling use case than ever for digital identities. Now that a COVID-19 vaccine is beginning to be rolled out, it seems almost inevitable that a health passport, proving that we aren’t a viral threat to others, will be featured in our futures.

Australian air carrier Qantas has been at the front of the pack of companies stating they’ll require an immunity certificate for a flight booking.

In the past month, seven major airlines including Lufthansa, Virgin Atlantic, JetBlue and United Airlines have signed onto the World Economic Forum’s CommonPass programme which calls for global digital proof of vaccination tied to ID documents ahead of travel.

With the roll out of a COVID-19 vaccine, the end of the pandemic’s stronghold seems to finally be in sight. However, this doesn’t mean that the next 12 months will instantly return to life before lockdown. Inevitably, technology will play a vital role in guiding our re-entry into an altered world.

The virus itself will of course still be in play next year. As such, most global futureproofing strategies revolve more around mitigation and living in our new normal, than eliminating the virus altogether. This has manifested in the concept of a global COVID-19 passport which would confirm our immunity and allow us to move, work, communicate, consume, exercise and interact more freely in the new normal. And now, after much discussion it seems the idea is nearing practical fruition.

The result of such a biometric digital identity is an ecosystem of universal trust and confidence. Businesses, venues, events and vendors can proceed in the knowledge that they are preventing guests from infection spikes while allowing them to rebuild their business and grow revenues. Meanwhile, the general population can look to re-enter society with reliable proof of their individual health and assurance of their digital security.

In particular, blockchain platforms such as the enterprise-focused Concordium use a cryptographic technique known as zero-knowledge proofs to help ensure that digital identities are self-sovereign. This feature allows people to retain control of their data in almost all everyday scenarios requiring an ID.

A universal passport that can be used globally allows its holder to pass through borders that they may not have otherwise known existed. It allows people from across the world to combine their knowledge and skills in various fields, including business, academics, government and travel. However, one of its biggest selling points is that it allows people to change their data at will. This means that anyone can design a unique and customized Universal Passport for themselves, ensuring they can use it for whatever purpose they see fit.

The Universal Passport was created by Nervos, a London-based developer organisation that specializes in creating secure and anonymous digital public services. According to its founders, the Universal Passport was born out of a need for a better international identification system, designed to help people identify themselves easily throughout the world. The developers behind the project believe that the best way to get this is to build a new infrastructure that is capable of managing multiple national identities within a multi-national context. Their design combines two distinct components: a blockchain and a database. The idea is that blockchain is an internet protocol that determines how the data stored within the database is communicated to the rest of the organisation. Meanwhile, the database is made up of secure information that is stored locally, allowing for easy access from any internet connection.

However, the two-pronged approach goes beyond the borders of Nervos. The developers believe that there are many other areas that the Universal Passport could potentially fill. In fact, in its current form, it’s already starting to challenge existing standards like the biometric data exchange protocol (BIPS), which is currently the only way for a smart card to provide a photo id. The biggest challenges to Nervos and the universal passport therefore revolve around its current lack of biometric functionality and its reliance on the existing ESSS technology. Owing to its reliance on established and well-understood technologies, any potential for new applications and improvements will have to be through the same existing source.

As the world responds to the COVID-19 pandemic, it is clear that the blockchain will be used for other purposes than solely cryptocurrency.

Categories
Bitcoin News Cryptocurrency News

The Price History Of Bitcoin On Christmas Day

It’s has been a tradition of ours every Christmas day to look at the current price of Bitcoin and compare it to its price on previous Christmases.

Here is Bitcoin’s Christmas day price history:
2010: $0.27
2011: $4
2012: $13 <halvening>
2013: $701
2014: $321
2015: $454
2016: $890 <halvening>
2017: $13,709
2018: $4,028
2019: $7,324
2020: $24,664 <halvening>
2021: see below!

If you pay close attention the the historical price patterns of Bitcoin, you’ll notice some trends that really stand out. First, there is clearly a 4-year cycle at work. At the end of the 4th year Bitcoin reached its first price peak, reaching $701 on Christmas day of 2013.

4 years later, it reached its second peak, attaining $13,709 on Christmas day of 2017.

Notice that each of these peaks were exactly 4 years apart. Notice the the peak came a year after the Bitcoin halvening, when the mining rewards get cut in half.

What Will The Bitcoin Price Be On Christmas Day 2021?

Taking into account another crypto bull run in 2021 – due around next Christmas – we can make some projections based upon the past.

Obviously, with the ole standard disclaimer of past performance doesn’t guarantee future results, these are just projections. Bitcoin doesn’t have to follow the same price patterns that it has been following for the past 8 years.

So, looking purely at the past two cycles and using the prices on previous Christmas days, we can extrapolate where the Bitcoin price will be on December 25, 2021.

On Christmas day of 2012, Bitcoin was worth $13. The following Christmas, it had climbed to $701, a gain of 53.9 times its price the previous year.

On Christmas day of 2016, Bitcoin was worth $890. The following Christmas, it had climbed to $13,709, a gain of 15.4 times its price the previous year.

If Bitcoin continues to follow its 4-year cycle – which we believe it will – then on Christmas day of 2021 the price of Bitcoin will be between 15.4 and 53.9 times its price yesterday. Or, specifically, between $379,825 (15.4 times) and $1,329,389 (53.9 times).

While these numbers might seem outrageous, we are simply using Bitcoin’s trend and continuing it into the future. THIS IS WHAT BITCOIN HAS BEEN DOING SINCE IT WAS CREATED. Why assume that it will suddenly stop doing what it’s been doing since its’ beginning?

Please do consider that there is a monetary crisis developing. Please do remember that central banks are printing fiat like crazy “in response to economic conditions due to Covid-19”. Please do remember what happens to the price of Bitcoin the year after the Bitcoin halvening (see above), and that this year (2020) was the most recent halvening year.

It is not unreasonable to think Bitcoin will be on the high side of this range next year, and not towards the lower end.

We strongly believe Bitcoin will be creating many new millionaires in 2021.

Merry Christmas and a very Blessed 2021!

Categories
Cryptocurrency News

U.S. Treasury Releases Regulatory Statement On Stablecoins

The United States President’s Working Group on Financial Markets, operating as part of the U.S. Treasury Dept. issued a “Statement on Key Regulatory and Supervisory Issues Relevant to Certain Stablecoins.” The President’s Working Group on Financial Markets is responsible for enhancing the “integrity, efficiency, orderliness, and competitiveness” of US financial markets.

According to the working group, the new regulations specifically target stablecoins:

“These requirements address a range of policy objectives, including safety and soundness, countering illicit finance, end-user protection, and market integrity. In particular, stablecoin arrangements with greater potential scale, complexity, and interconnectedness should consider.”

Why is the Group Considering the Regulation?

The document states that the group views stablecoins as a potential regulatory risk. The document states:

“Depending on its design and other factors, a stablecoin may constitute a security, commodity, or derivative subject to the U.S. federal securities, commodity, and/or derivatives laws. If so, the federal securities laws,3 and/or the Commodity Exchange Act (“CEA”),4 would govern the stablecoin itself, transactions in, and/or participants involved in the stablecoin arrangement. Whether a stablecoin is a security, commodity, or derivative will depend on the relevant facts and circumstances.”

All stablecoins won’t be considered securities or derivatives, but they may be depending on their makeup.

This statement is significant given the members that make up the President’s Working Group of Financial Markets. They include the Secretary of the Treasury, the Chairperson of the Board of Governors of the Federal Reserve, the Chairperson of the Commodity Futures Trading Commission, and the Chairperson of the Securities Exchange Commission (SEC).

One notable member is SEC Chairperson Jay Clayton, who, as head of the watchdog, was involved in the recent charges brought against Ripple. On Wednesday, the SEC filed a suit against Ripple and two of its top executives for conducting an unregistered sale of securities.

The SEC states that they perceive XRP, the native currency of the Ripple network, to be a security and not a currency like bitcoin or ethereum.

This classification means that Ripple, it’s co-founder, and current CEO are responsible for the sale of unregistered securities and will be held accountable.

As the cryptocurrency market continues to mature, regulatory bodies will likely scrutinize cryptocurrencies with additional oversight.

What is a Stablecoin?

Summary: Stablecoins are a new class of digital currency. Although the concept of stablecoins was considered years ago, only recently has it received widespread attention. Stablecoins refer to a collection of currencies that derive their value solely from an external reference point. Stablecoins can best be classified on the basis of their underlying working mechanisms, namely, Fiat-collateralised, algorithmic, and cryptohash-based stablecoins. The Fiat-Collateralised variety are the most widely recognised stablecoins as they trade against financial instruments like credit and deposit bills. The algorithmic variety of stablecoins, on the other hand, trade against a basket of global currencies (the basket of which they are traded) and are not linked to any particular financial instrument.

One of the advantages associated with stablecoins is their use as an asset. By understanding which option provides the best fit for your circumstances, you will be able to effectively hedge against any potential financial setbacks. When looking at buying, selling, or trading a stablecoin, it is important to consider the factors surrounding the particular coin. Another factor that is crucial is to determine whether one wants to purchase, sell, or trade non-collateralized stablecoins – these are coins that are not backed by any collateral such as certificates of deposit or bank notes. Finally, it is important to consider whether one wants to invest in algorithmically-derived stablecoins (which trade on algorithms instead of actual commodities) or non-algorithmic stablecoins (which trade based on supply and demand fundamentals).

Categories
Cryptocurrency News

The Ledger Wallet Database Hack

In the world of Cryptocurrency, the Ledger Wallet Database Hack is currently the most talked about. The news hit the web with a lot of headlines and images that scared many people into believing this was the next major financial scandal in America. But the truth is something totally different, this type of hack doesn’t involve Cryptocurrency itself. It’s all about password protection and keeping your information safe from unscrupulous people who want to use this for their own gain.

When the Ledger Wallet Database Hack first broke, many people were confused as to what exactly had happened and how it happened. But the real truth is that a group of hackers wanted to gain access to the database of some very important companies in order to find out information on where people were putting their money and what they were planning to do with it. They knew that some people wouldn’t be able to resist their dirty little tricks, so they made it even more difficult for them by hacking into people’s computer systems, taking personal information like passwords, usernames, and account numbers.

Thankfully, there were companies who took these hackers seriously enough to implement an effective system that protect against these types of attacks. These companies work by continuously monitoring the Ledger Wallet database to make sure that people are putting their information into the right places, and that no thieves are getting any information that they can steal. They also update the database on a regular basis to make sure that it stays secure and that people are still able to put their information into the program safely.