Tag Archives: blockchain

El Toro Blockchain Division Launches Crypto Exchange for Pro Traders Issues 8 Stablecoins

El Toro Blockchain Division Launches Crypto Exchange for Pro Traders, Issues 8 Stablecoins

The blockchain division of global social trading platform eToro

has launched a cryptocurrency exchange for pro traders, a press release shared with Cointelegraph on Tuesday, April 16, states. EToroX claims to be a secure a secure and fully regulated trading venue. As for now, the platform offers 37 trading pairs, with the ability to convert six cryptocurrencies to fiat, such as the dollar, euro and Swiss franc.

The exchange currently allows users to trade bitcoin (BTC), ethereum (ETH), ripple (XRP), dash (DASH), bitcoin cash (BCH) and litecoin (LTC). According to the managing director of eToroX, Doron Rosenblum, the exchange will launch more pairs in coming months.

Moreover, eToroX has launched eight stablecoins that are backed by the New Zealand dollar (NZDX), Japanese yen (JPYX), Swiss franc (CHFX), United States dollar (USDEX), euro (EURX), U.K. pound sterling (GBPX), Australian dollar (AUDX), and Canadian dollar (CADX). The stablecoins will be issued and controlled by eToroX. Co-founder and CEO of eToro, Yoni Assia, said that the platform is set to bring crypto to a

larger range of investors:

“We want to bring crypto and tokenized assets to a wider audience, allowing them to trade with confidence. This is the future of finance. Blockchain will eventually 'eat' traditional financial services through tokenization.”

Assia believes that financial services will eventually be transferred to blockchain, as the tech brings a new paradigm for asset ownership. According to him, traditional asset classes such as art and property will also be tokenized.

In March, eToro officially launched its platform and crypto asset wallet in the U.S. Later the same month, the company announced that it has acquired smart contracts development company Firmo in order to explore and add more tokenized assets. In other stablecoin news, Canadian cryptocurrency exchange Coinsquare has recently announced that it will be launching a Canadian dollar-backed stablecoin. Meanwhile, billionaire VC investor Tim Draper is reportedly planning to meet with Facebook execs to discuss investing in the social media outlet’s rumored FB Coin.

Article Produced By
Ana Berman

Moved by her interest to discover the world of decentralized technologies, Ana joined Cointelegraph in June 2018. Shortly after joining the team as a news writer, she focused on the major crypto stories from Latin America


Deb Williams (hodlthrive)

Binance Chain Launches Firm Expects to Execute Mainnet Swap on April 23

Binance Chain Launches, Firm Expects to Execute Mainnet Swap on April 23


Binance has launched its mainnet Binance Chain

and expects to execute the swap of its native token Binance Coin (BNB) on April 23, according to an announcement on April 18. The major crypto exchange first revealed its plans to launch its own blockchain in December 2018, intending to build a basis for issuing new cryptocurrencies and initial coin offering tokens.

According to the announcement, Binance is producing blocks with consensus from the genesis block as of today, with its native coin BNB planned to be issued in the genesis block. Binance Chain Explorer and Web Wallet will be available to selected partners in beta testing mode and are expected to be opened to public access “around April 23, 2019,” the announcement notes. Along with the launch of Binance Chain, the exchange provided details for the conversion of ERC-20 BNB tokens into native Binance Chain-based BNB (BEP2) coins. As such, Binance emphasized it will not support the withdrawal of ERC-20 BNB tokens after April 23.

Specifically, Binance will be releasing more BEP2 coins as more users convert their ERC-20 BNB to its native BEP2 BNB, while the proportional amounts of ERC20 BNB will be burned while “keeping the total supply across both networks constant.” The exchange will not list any initial trading pairs until the conversion of the first batch of BNB has occurred, the statement reads.

Binance is currently the third largest crypto exchange by adjusted daily trading volume. As recently reported, Binance’s Q1 2019 profits surged 66% compared to the previous quarter. According to another report, Binance saw $78 million in Q1 profits due to a massive growth in its over-the-counter trading platform. Recently, Binance’s charity arm launched a crypto donation channel to support the reconstruction of the Notre Dame cathedral.

Article Produced By
Helen Partz

Helen is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2017, she joined Cointelegraph as a writer.


Deb Williams (hodlthrive)

US Gov’t Blockchain Spending Expected to Increase 1000 Between 2017-2022: Study

US Gov’t Blockchain Spending Expected to Increase 1,000% Between 2017-2022: Study


The United States federal government is expected to raise its blockchain spending

to $123.5 million by 2022 — an over 1,000% increase as compared with the $10.7 million it spent in 2017. The forecast was made in a report from IDC Government Insights, published on April 18. IDC states that blockchain spending among state and local governments is also anticipated to grow, from $4.4 million in 2017 to $48.2 million in 2022 — similarly an almost 1,000% rise.

Federal civilian agencies — who reportedly spent less than $20 million on the technology in 2017 — are likely to spend over $80 million by 2022, the report continues. The Defense Department — which likewise spent less than $20 million in 2017 — could almost double this figure and hit $40 million by 2022, the IDC claims. Government investment in blockchain technology is likely to evolve and expand to include more complex areas over time, the IDC’s research director

Shawn McCarthy outlined:

"We believe asset management, identity management, and smart contracts will be the leading blockchain solutions for government. Early spending will focus on supply chain and asset management solutions, while spending in later years will expand to include more identity management and complex financial transactions."

IDC also notes that blockchain is likely to become a cornerstone technology for trade legislation, and is likely “to be implemented as a standard feature for some types of authorized international trade and also as a standard for many types of government procurement.” In terms of specific implementations of the technology, the report argues that a hybrid blockchain approach — combining aspects of private and public networks — is likely to prove the most popular among government agencies.

As reported last month, the current Republican Minority Leader in the U.S. House of Representatives has recently argued that blockchain should be implemented to improve the transparency of the legislative process and bring more security and accountability to government. A separate IDC report from 2018 forecasted that worldwide blockchain spending would grow to $9.7 billion in 2021.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.


Deb Williams (hodlthrive)

Major Auditing Firm Ernst amp Young Releases Updates to Two Blockchain-Related Products

Major Auditing Firm Ernst & Young Releases Updates to Two Blockchain-Related Products


Big Four auditing firm Ernst & Young (EY)

has released two new blockchain developments, a new version of its Blockchain Analyzer and a zero knowledge proof protocol. The company revealed the products in two separate press releases on April 16. EY has launched the second generation of its analytics tool EY Blockchain Analyzer. While the first generation of the product was available to only EY audit teams facilitating gathering companies’ entire transaction data from multiple blockchain ledgers, the upgrade made the analyzer accessible for EY teams and non-audit customers as a business application. Paul Brody, EY Global Innovation Leader for blockchain, said that the company intends to build a platform solution that can be deployed for various purposes, including audit, tax and transaction monitoring. The new version of the analyzer will support tax calculation for crypto assets from the Andy Crypto-Asset Accounting and Tax (AndyCAAT) tool that automatically calculates capital gains and losses on transactions in compliance with United States tax law.

As for EY’s zero knowledge proof protocol, the company aims to facilitate the adoption of secure, private transactions over public blockchains. Paul Brody, EY Global Innovation Leader, Blockchain, said that “making public blockchains secure and scalable is a priority for EY. The fastest way to spread this privacy-enhancing technology was to make it public.” “The main component allows for secure, private transfers and payments on the public Ethereum network. This supports fungible token payments compatible with the ERC-20 standard and unique asset transfers compatible with the ERC-721 standard.  The ERC standards are publicly accepted open standards for tokens on the Ethereum blockchain,” the release explains.

EY also notes that since the launch of the initial prototype in 2018, the company has managed to  significantly reduce transaction processing costs by more than 90%. Currently, the software code is reportedly undergoing final reviews and is scheduled to be launched into the public domain in the next four to six weeks. In March, EY launched a tool called EY Crypto-Asset Accounting and Tax (CAAT) designed for accounting and preparing taxes on cryptocurrency holdings. The product can reportedly get information about cryptocurrency transactions from “virtually all” major exchanges, consolidate data from various sources, and automatically produce reports, including cryptocurrency-related U.S. Internal Revenue Service tax returns.

Article Produced By
Ana Alexandre

Total change in her career took Anastasia into the world of analytics and business information as a researcher and translator in 2010. Some time later she got into FinTech, a dynamically developing segment at the intersection of the financial services and technology. Ana joined Cointelegraph in September 2017.


Deb Williams (hodlthrive)

Nestl Carrefour Work With IBM to Track Mashed Potato Brand With Blockchain

Nestlé, Carrefour Work With IBM to Track Mashed Potato Brand With Blockchain


Switzerland-based food giant Nestlé, French supermarket chain

Carrefour and IBM have partnered to use the latter’s blockchain technology to track a famous French convenience food, the companies announced in a press release on April 15. Nestlé and Carrefour, both of which are members of IBM’s Food Trust blockchain platform, will use the technology from today to track the supply chain of Mousline, a well-known brand of instant mashed potatoes. Once it rolls out, shoppers will be able to scan a QR code with their smartphones to know exactly where the potatoes in a specific packet came from, as well as their journey to the specific Carrefour store.

“Using the QR code on the product’s packaging, each consumer will be able to use a secure platform on their smartphone to access information on the production supply chain, including the varieties of potato used, the dates and places of manufacture, information on quality control, and places and dates of storage before the product reaches the shelves,” the press release confirms.

The announcement comes just days after United States supermarket chain Albertsons said it was using Food Trust to track one of its products — iceberg lettuce — with the potential for more to follow. Worldwide, around five million different food items already employ blockchain in their supply chain in some form as the industry niche grows. “This partnership is based on the shared values of each company to bring consumers greater transparency in the food sector,” Carrefour continued in the press release.

The firm added:

“By simply scanning a product using a smartphone, consumers will receive reliable and unfalsifiable information on the supply chain and production.”

As Cointelegraph reported, Carrefour has itself stepped up blockchain integration in recent months by applying the technology for tracking milk.

Article Produced By
William Suberg

William Suberg got into Bitcoin while completing his Masters degree and hasn't looked back since, writing about anything crypto-related which makes him sit up and pay attention. He started working with Cointelegraph in October 2013.


Deb Williams (hodlthrive)

VR Firm Magic Leap Seeks Blockchain Engineers for User Data

VR Firm Magic Leap Seeks Blockchain Engineers for User Data


Virtual reality (VR) startup Magic Leap is seeking blockchain engineers

according to recent listings on employment website Greenhouse. The firm is looking for a senior blockchain architect and blockchain engineers. Among the duties listed for the senior blockchain architect position, the individual will be “planning and execution of a portfolio of blockchain, smart contract, and Ricardian contract technologies in support of the implementation of our Lifestream business function.”

In a recent interview with VR industry publication UploadVR, Magic Leap CEO Rony Abovitz said that Lifestream is: “all the data that you experience and the data of the world around you and how that needs to be protected…” At a conference last October, he noted the importance of protecting the data set, which he characterized as critical.

The job listing seeks an individual with experience in the Red Belly and Hyperledger blockchain frameworks and experience with Java, Node,js, Python or Go. Magic Leap also prefers that the engineer has experience writing smart contracts for blockchain networks like Hyperledger Fabric, Hyperledger  Sawtooth, Ethereum and Corda. Magic Leap has grown significantly since its inception in 2010. Crunchbase reported last year that the firm is the top-funded VR startup on the market, having aggregated 41% of VC funding in the VR market worldwide in 2018.  

Earlier this month, Ethereum-based digital asset tokenization startup Enjin announced that it will launch a Software Development Kit for the Unity game engine, which supports VR and augmented reality app development.

Article Produced By
Aaron Wood

Aaron Wood is an editor at Cointelegraph, with a background in energy and economics. He keeps an eye on Blockchain's applications in building smarter and more equitable energy access globally.


Deb Williams (hodlthrive)

Tata Consultancy Services Powers Blockchain-Based Cross-Border Securities Settlement

Tata Consultancy Services Powers Blockchain-Based Cross-Border Securities Settlement


Indian IT services company Tata Consultancy Services (TCS)

announced on April 10 that it carried out what it defines as the world's first cross-border securities settlement between two central depositories using the Quartz blockchain. The Central Securities Depositories (CSD) involved are reportedly Maroclear, the CSD of Morocco, and Kuwait Clearing Company, the CSD of Kuwait. During the test, a set of equities and fixed income securities from both markets were created on the chain along with accounts to hold them, and were instantaneously transferred.

The system reportedly used cash coins on the BaNCS Network, powered by the Quartz blockchain. The announcement explains that cash coins are a digital asset pegged to a fiat currency and maintained on the network. Per the report, the network is a private permissioned blockchain aimed to let customers in the banking, market infrastructure, custody and insurance industries collaborate by connecting to a single ledger. The post claims that 450 TCS customers have access to the BaNCS network. According to CrunchBase data, TCS has $15.4 billion in revenue annually; its parent company, Tata Group, reportedly has $100.4 billion.

As Cointelegraph reported yesterday, the Mauritius Financial Services Commission has issued a second guidance note concerning security token offering regulation. Also, at the beginning of the current month, the United States Securities and Exchange Commission revealed that it is looking to hire a crypto specialist attorney advisor for its Division of Trading and Markets tasked with establishing “a comprehensive plan to address crypto and digital asset securities.”

Article Produced By
Adrian Zmudzinski

Adrian is a newswriter based out of Pisa, Italy. He's passionate about cryptocurrency, digital rights, IT, tech and futurology and likes to think about the future in a positive way.



Deb Williams (hodlthrive)

Japanese Regulator FSA Hears Arguments for not Calling Bitcoin a Virtual Currency

Japanese Regulator FSA Hears Arguments for not Calling Bitcoin a Virtual Currency


Japanese finance regulator the Financial Services Agency (FSA)

no longer wishes to describe Bitcoin (BTC) as a virtual currency, Cointelegraph Japan reported on April 8, quoting minutes of a meeting originally held on March 4. During a plenary session at the 41st General Assembly of the Financial Council and the 29th Financial Division Meeting, Professor Iwashita Goto of the Public Policy Graduate School of Kyoto University, petitioned members to adapt their view of Bitcoin.

The largest cryptocurrency, he argued, has become something beyond a means of transacting, due to its borderless qualities, which have led it to appear throughout the world in its ten-year history. “I don't think it would be worthwhile to call Bitcoin a virtual currency,” he summarized. The comments come as Japan continues to formalize its domestic cryptocurrency industry. Set on creating encouraging regulation, the FSA has now begun issuing licenses to new cryptocurrency exchanges looking to serve the Japanese market.

The licensing scheme, which has a long waiting list, was in part a reaction to the events of the past two years, notably local exchange Coincheck’s half-billion-dollar hack in January 2018. Other industry consumer products also continue to see a rollout in the country, such as plans for train travel payment using cryptocurrency. Last week, Japanese trading platform Liquid achieved unicorn status after it was valued at more than $1 billion.

Article Produced By
William Suberg

William Suberg got into Bitcoin while completing his Masters degree and hasn't looked back since, writing about anything crypto-related which makes him sit up and pay attention. He started working with Cointelegraph in October 2013.


Deb Williams (hodlthrive)

EU Blockchain Observatory Releases Report on Tokenization AI and IoT

EU Blockchain Observatory Releases Report on Tokenization, AI and IoT


The European Union Blockchain Observatory and Forum

released a report entitled “Tokenization of physical assets and the impact of IoT and AI” on April 10. The report, authored by Dr. Tim Weingärtner, a professor at Lucerne University of Applied Sciences & Arts – School for Information Technology, features the “digital twin” concept, which refers to a digital replica of the physical world. This mirror world would be consist of Internet of Things (IoT) devices, big data, tokens representing physical objects, blockchain as a trusted ledger and Artificial Intelligence (AI).

The report notes that blockchain would play a key role in this digital transformation by providing trust and allowing the identification and tokenization of physical objects. Blockchain-based smart contracts also play their part, the report argues, by providing a tamper-proof computational environment and automatic execution of financial actions through the use of cryptocurrencies. The document highlights the importance of tokens and cites the Ethereum (ETH) blockchain as currently the most important platform for the creation of tokens. According to the author, this platform is preferable due to the potential of its programming language, its large community, working implementations and existing code examples.

The report concludes that the combination of IoT with blockchain would allow for better supply chain management, increased trust that enables the sharing economy to grow, data trading and monetization, identity management and automatization. Combining AI with decentralized technology would instead democratize data, assure its authenticity, audit smart contracts and explain AI decisions. At the same time, the report claims, robots and drones would be “the actuators of the digital world,” since they would allow the intervention of the digital world in the physical world. The document expects the digital twin concept to

become increasingly important:

“Due to the exponential growth, which is described by Moore’s Law and many studies, the physical world will be exceeded by the digital world in the coming years. This means that speed, growth and complexity will increase by a multiple.”

Moore’s law refers to the observation — made by Intel’s CEO Gordon Moore in 1965 — that the number of transistors in dense integrated circuits doubles roughly every two years. However, the report fails to mention that the rate of progress in fitting more transistors in less space is slowing down. Furthermore, the scale of transistors is currently approaching an ultimate limit because of a quantum property known as quantum tunneling.

Moreover, progress is being made to continue the development of alternative processing technologies such as quantum computing, optical computing and neuromorphic computing. Such technologies could permit the continuation of the trend towards increasing available computing power. In March, a different report released by the same organization made recommendations on how to better develop blockchain technology, including the introduction of interoperability and scalability standards. Earlier, in December last year, the same group also made a case for a blockchain-based digital identity system and digital versions of national currencies.

Article Produced By
Adrian Zmudzinski

Adrian is a newswriter based out of Pisa, Italy. He's passionate about cryptocurrency, digital rights, IT, tech and futurology and likes to think about the future in a positive way.



Deb Williams (hodlthrive)

Private Bank Kleinwort Hambros Launches Blockchain Exchange-Traded Note

Private Bank Kleinwort Hambros Launches Blockchain Exchange-Traded Note


Private bank Kleinwort Hambros launched an exchange-traded note (ETN)

made up of blockchain-related companies, financial news outlet Finextra reported on April 8. Kleinwort Hambros is owned by Societe Generale, acting as their private wealth management division in the United Kingdom. Societe Generale itself is a multinational investment bank headquartered in Paris, with total assets of around 1.3 trillion euros ($1.4 trillion) in 2018. Per the report, the new derivative is available for a minimum investment of £1,000 (equivalent to about $1,300) and has been listed in Luxemburg. The stocks reportedly include 20 companies which are expected to profit from blockchain and distributed ledger technology (DLT) adoption.

More precisely, the companies are expected to earn revenue through the sale of relevant software and services or improve their profit margins with the adoption of decentralized technologies. The companies that make up the ETN reportedly come from the technology, shipping, oil and gas, custody banking and industrials industries. The press release quotes John Birdwood, portfolio manager at Kleinwort Hambros, as stating that the bank noticed increasing interest on their clients’ part towards blockchain, prompting the development of the product.

Kleinwort Hambros, according to a report released by the company in March 2018, has £16.3 billion of assets (around $21 billion) under management, over a thousand employees, and offices in London, Cambridge, Newbury, Leeds, Edinburgh, Guernsey, Jersey and Gibraltar.

As Cointelegraph reported in January, Ed Tilly, CEO, president and chairman at the Chicago Board Options Exchange, declared that there is a need for Bitcoin (BTC) exchange-traded notes in order for Wall Street institutional investors to join the crypto space. At the end of March, the United States Securities and Exchange Commission has delayed its decision on a rule change to the Securities Act that would allow the listing of Bitcoin exchange-traded funds (ETF).

Article Produced By
Adrian Zmudzinski

Adrian is a newswriter based out of Pisa, Italy. He's passionate about cryptocurrency, digital rights, IT, tech and futurology and likes to think about the future in a positive way.


Deb Williams (hodlthrive)

The revolution from Deb Williams