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The first cryptocurrency bank license was granted
Altcoins, Events
25/09/2020
66

The first cryptocurrency bank license was granted

The State of Wyoming in the USA approved Kraken’s request. What services will it offer to customers. Because evolution is important for the entire crypto space. Ethereum is galloping.

This is a development of historical significance. A milestone in Bitcoin’s path to widespread acceptance and recognition. The State of Wyoming in the USA approved the application of Kraken, one of the first cryptocurrency exchanges, to establish a Special Purpose Stocks Foundation (SPDI). In other words, the world’s first official digital banking license was issued.

Kraken Financial, as it is called, will initially offer its services only in the US, but will soon operate globally. It will be able to do whatever any traditional bank does, with the difference that it will also offer custody services for cryptocurrencies. Why is it so important, given that there is still the possibility of custody? Because for the first time it will be for individuals and businesses, not just for institutions.

Kraken is the first start-up bank to be licensed in Wyoming since 2006. As a special purpose institution, it will be required to maintain 100% of its deposits at all times. Not just a fraction, as is the case with traditional banks. If her clients make withdrawals, she will be able to fulfill her obligation to provide them with the money, regardless of how many loans she has pending.

In its first year of operation, Kraken Financial hopes to offer the following services: Custody of digital assets, savings accounts, money transfer and financing services. Over time, it will be extended to other services, such as having its customers have a debit card that will be powered by their deposit account in cryptocurrencies.

The effects in the field of crypto

Many may not realize what this historical development signifies. Kraken will be able to offer a digitally native banking experience that combines traditional values ​​with cryptocurrencies. Users have a savings account that supports both government currencies and crypto.

Of course it is still early to know how it will develop. If there is only one copy of the traditional banking system, it will not create any radical innovation. What makes the venture exciting is the ability to harness the benefits of cryptocurrencies to create a new, improved banking experience that will serve customers worldwide.

This, after all, is their vision. To become a credible bridge between the world of cryptocurrencies, the digital monetary future and the existing financial ecosystem. This is a natural evolution. Banks were created for people who wanted to deliver assets somewhere that they could trust. Banks continue to play this role to this day. As the space of cryptocurrencies grows and penetrates everyday life, the phenomenon will extend to crypto. There will be a demand for similar services provided for government currencies.

There are other advantages to the Kraken exchange. By owning a fully independent bank, it reduces its dependence on third-party financial institutions. It will be able to provide new innovative products to its customers. As a state-licensed bank, it now obtains the legal passport to operate in other States, without having to deal with compliance procedures per State.

Source: https://www.euro2day.gr/investments/crypto/article/2042288/dothhke-h-proth-adeia-trapezas-kryptonomismaton-.html

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Singapore Food Agency adopts veriTAG’s blockchain food tracking system
Blockchain
15/09/2020
55

Singapore Food Agency adopts veriTAG’s blockchain food tracking system

Singapore Food Agency has joined forces with Cloud-based smart tagging firm veriTAG and ST Engineering to develop a blockchain-based food tracking system.

The partnership began development last year and aims to correct the critical problem areas in the Singapore food supply chain.

veriTAG founder and CEO Jason Lim said: “Food safety and security is not a farming problem or a manufacturing problem — it’s a problem that affects everyone. We are pleased to be partnering with veriTAG, the Singapore Food Agency and ST Engineering to provide a tangible, creative solution to a critical issue.”

eriTAG’s food tracking system is based on the NULS blockchain, an open-source and adaptive blockchain technology.

It makes use of TradeTrust’s globally accepted standards and frameworks that support the exchange of electronic trade documents.

NULS core developer Mario Blacutt said: “We’re excited to be playing a role in such an impactful initiative. This partnership showcases that blockchain technology can truly be a conduit for social good and demonstrates the wide range of enterprise use cases.”

Source: https://www.foodprocessing-technology.com/news/singapore-food-agency-adopts-veritags-blockchain-food-tracking-system/

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Another Turkish football club is capitalizing on blockchain
Blockchain, Events
12/09/2020
64

Another Turkish football club is capitalizing on blockchain madness

Turkish football club Trabzonspor is the latest team to issue their own fan tokens using the Blockchain voting and rewards app, Socios.com, which will be available via the Chiliz exchange.

According to the announcement, $TRA token holders will be able to vote in various polls and earn rewards for their engagement with the football club. Rewards could include VIP stadium attendee status, and even the ability to meet with players once the COVID-19 pandemic has passed.

Socios’ app will also enable users to compete to become the #1 fan in their region or country.

Sinan Zengin, general manager at Trabzonsport, commented:

“This situation is really exciting. This collaboration will allow us to implement developments, marketing opportunities, and other innovations in the digital world. I am sure that our fans will make the slogan ‘Everywhere is Trabzon For Us’ even more meaningful with their interest in the $TRA Fan Token Offering, which we will start next month.”

Back in July, Socios.com secured a major regulatory license allowing it to issue its own payments and loyalty card.

Source: https://cointelegraph.com/news/another-turkish-football-club-is-capitalizing-on-blockchain-madness

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Starbucks Introduces Blockchain Coffee Tracing System For Customers and Farmers
Blockchain, Multimedia
08/09/2020
69

Starbucks Introduces Blockchain Coffee Tracing System For Customers and Farmers

Quality control is one of the most important facets of any industry, especially coffee. In a bid to provide greater transparency to its customers, and a re-affirmation of its quality, Starbucks has turned to blockchain in order to track the ‘journey’ of its coffee beans from the farmer that cultivates them, all the way to the branch.

Starbucks, one of the leading coffee makers across the globe with thousands of stores, has turned to blockchain to help its customers trace the origin of their coffee.

Starbucks believes that blockchain technology would enable users to scan a bar-code on their coffee bags to find out where the coffee was farmed, the time it took to reach their retail store from the farmlands, and much more. The farmers responsible for producing the coffee would be given a reverse code to track their products destination as well.

The blockchain tracing system would use the Microsoft Corp tool that would enable Starbucks to share some of the most extensive traceability data, which the firm has been collecting over the years, with their customer base.

Michelle Burns, the vice-president of Starbucks, commented on their decision to introduce blockchain-based traceability system:

“We have been able to trace every coffee we buy from every farm for almost two decades, that allowed us to have the foundation to now build a user-friendly, consumer-driven tool that certainly provides that trust and confidence to our customers that we know where all of our coffee comes from.”

The largest coffee-retail chains move to incorporate blockchain traceability is seen as a way to appeal to millennial customers in their ecosystem. The coffee maker believes that the new generation is quite particular about the products they consume, from how they’re sourced to how they reached the supermarket. The introduction of the traceability of products would interact more millennials to the platform.

Blockchain Technology Use For Food Traceability on the Rise

Blockchain technology has been considered for a wide array of industries, despite many of these companies having initial reservations for cryptocurrencies and tokens. Many mainstream tech firms are actively investing in technology or developing enterprise-grade solutions. The food supply-chain industry has turned out to be the largest adopter of the blockchain tech.

In the past couple of years, primary food and beverage brands have turned to blockchain to streamline the food traceability process. Some of the most recognizable brands that have turned to blockchain include Nescafe, J.M. Smucker Co., and Jacobs Douwe Egberts.

Source: https://bitcoinexchangeguide.com/starbucks-introduces-blockchain-coffee-tracing-system-for-customers-and-farmers/

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Will blockchain boost air cargo efficiency after Covid-19
Blockchain, Multimedia
04/09/2020
68

Will blockchain boost air cargo efficiency after Covid-19

Amid a global pandemic, there has arguably never been a better time to make the movement of air cargo more efficient and easier to monitor. Switching to blockchain could help make this achievable, creating crucial cost savings for stakeholders in the bargain.

The Covid-19 outbreak has brought global supply chains to their knees, with critical companies forced to shut down their operations.

According to figures released by International Air Transport Association (IATA), demand within the global air freight markets in April suffered a drop of 27.7% compared to the same period in 2019 – the sharpest year-on-year decline on record.

This has been coupled by a significant capacity crunch across the air cargo sector, with capacity down by 42% as a result of many airlines being grounded during the crisis. The result of this perfect storm has been lengthier shipping times and higher costs all round.

In a recent statement, IATA chief executive Alexandre, de Juniac called on governments to do more ensure supply chains “remain open and efficient”. Air cargo has a role to play in the transportation of medical supplies, food and other necessities to the worst-hit regions, he argues. The global economy also needs air freight to continue to supply businesses and factories.

Now is the time to also ensure that the movement of air cargo is more efficient and easier to monitor. Could blockchain technology – already widely deployed in other industries to make supply chains more transparent – spell out the answer to this longstanding issue?

Saviour solution: SITA and ULD Care’s proposed blockchain platform

SITA seems to think so. In March, the aviation technology firm announced it had partnered up with Canadian trade association ULD Care, as part of an effort to explore the use of blockchain to digitally track air cargo containers – or unit load devices (ULDs) – across their entire journey.

“Blockchain will help reduce costs related to tracking assets.”

The two firms are betting big on their proposed platform. Through the elimination of inefficiencies, embedding “always-on” tracking of ULDs, and the scrapping of outmoded paper systems, blockchain could save the industry as much as $400m a year in improved efficiency, while cutting shipping times in half.

Source: https://www.airport-technology.com/features/blockchain-air-cargo/

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Russia tests blockchain voting as the September elections approach
Blockchain, Multimedia
02/09/2020
67

Russia tests blockchain voting as the September elections approach

Russia has had a lot of interactions with crypto and blockchain industries in the last few years. Less than a year ago, the reports revealed that the country plans to use blockchain for selling diamonds. Only days ago, the country’s bank made a first-ever crypto-backed loan.

Now, Russia even started conducting tests for blockchain voting, right before the elections scheduled to take place in September.

 

Russia develops blockchain voting to deal with coronavirus

 

Russian elections are approaching, but the situation with COVID-19 is still far from being resolved. With people mostly still keeping at home, the authorities have had to come up with a remote voting system.

With recent recognition that the blockchain technology has been receiving, the government seems to have decided to give DLT a chance, and use the security of blockchain for developing a voting system.

The experiment has been on-going for a while, and the Russian Central Election Commission revealed that more than 30,000 people already participated. These volunteers completed the election process electronically. They went through an entire process, from registering on the network, to helping with vote counting.

The study itself was run by the country’s telecom giant, Rostelecom, which collaborated on the experiment with the Ministry of Digital Development. Meanwhile, the telecom developed the necessary tech with Waves Enterprise. According to officials, vote counting took less than a minute, which already makes it highly efficient.

 

Verification is necessary, but honesty is guaranteed

 

In order to vote, participants had to go through identity verification, which also required the technology interfaced with a government portal. However, the officials said that there were no problems or difficulties along the way.

Engineers still conducted tests to try and predict potential issues, and either resolve them ahead of time, or create plans of action in case such problems emerge in practice.

Considering that the first round of testing was reportedly very successful, more experiments are on the way. The country will hold public testing in a few days, on August 31st. With news of election fraud coming from all over the world, using blockchain for honest voting is considered a very worthy effort, and many are glad to see new developments in the sector.

Source: https://invezz.com/news/2020/08/27/russia-tests-blockchain-voting/

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What if Satoshi Nakamoto was Satoshi Nakamoto
Bitcoin, Multimedia
31/08/2020
55

What if Satoshi Nakamoto was Satoshi Nakamoto all along?

Leah McGrath Goodman, the Newsweek journalist who named Japanese-American man Dorian Satoshi Nakamoto as Bitcoin’s founder in 2014, is doubling down on her claim.

In an Aug. 25 episode of the Pomp Podcast with Anthony Pompliano, McGrath Goodman revealed details of the research regarding her original Newsweek story including her written correspondence with Dorian Nakamoto.

The journalist took Pomp through her investigation, saying that it had been relatively simple to contact some of the “top ten” Bitcoin pioneers over email prior to publication of the March 2014 story.

Gavin Andresen and Hal Finney each provided key information that led McGrath Goodman to believe she was looking for a single person, rather than a team —  and that it wasn’t Bitgold inventor Nick Szabo.

“[He] was a very prominent candidate for a lot of people but he clearly wasn’t free to do what it was that those who spoke with Satoshi said what had to be done to create the code,” said McGrath Goodman.

“His itinerary did not match at all — like a very busy person — this whole spending two years very quietly working.”

 

One key piece of evidence in McGrath Goodman’s original story on the 64 year old Californian resident Dorian Nakamoto, was his statement in front of multiple witnesses, saying he was “no longer involved in that,” to which was widely interpreted as referring to Bitcoin.

“I cannot discuss it,” Dorian reportedly said. “It’s been turned over to other people. They are in charge of it now. I no longer have any connection.”

McGrath Goodman said that one of the things she found most disappointing was Dorian’s claim “in the aftermath of saying he didn’t know [we were talking about Bitcoin].”

“He definitely knew that we were talking about it: we had been talking about it for weeks before I actually physically visited him.”

 

McGrath Goodman also cited evidence directly linking Satoshi with Dorian’s location in Los Angeles, as Finney had posted data from a crashed file intended for the Bitcoin founder to fix.

“That had an IP address in it that led us to the same neighborhood Dorian lives in, in LA,” the journalist told Pomp.

The true identity of Satoshi Nakamoto is the holy grail of information for those in the crypto community.

The wide variety of candidates include Craig Wright, an Australian man often referred to as ‘Faketoshi’. Others still speculate that Szabo may be Satoshi or Blockstream’s Adam Back. Even Finney’s name carries weight for his early role in the cryptocurrency’s development. Technology pioneer John McAfee hasn’t said he is Satoshi, but is “99% certain” he knows who is.

Source: https://cointelegraph.com/news/what-if-satoshi-nakamoto-was-satoshi-nakamoto-all-along

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7M Americans Own BTC But Hold None In Retirement Accounts
Bitcoin, Τεχνική Ανάλυση
27/08/2020
62

Over 7M Americans Own BTC But Hold None In Retirement Accounts

Millions of U.S. citizens own both Bitcoin and a retirement account, but hold no Bitcoin in that retirement account.

Ryan Radloff, CEO of custody solution Kingdom Trust, recently explained a vast number of Americans do not hold Bitcoin (BTC) in their retirement accounts.

“There’s 7.1 million Americans that have already made the leap to buy Bitcoin or take the dive into our industry so to speak, and have a retirement account, but don’t have Bitcoin in their retirement account,” Radloff told Morgan Creek Digital co-founder Anthony Pompliano in a July 18 interview.

People have more to spend on Bitcoin in their retirement accounts

Retirement accounts allow the public to put money into a long-term investment fund, with the stipulation of only taking money from that account after a certain time period — usually totalling decades, depending on the participants age. Such a format comes with significant tax breaks and incentives.

Various solutions exist as gateways for Bitcoin retirement account purchases and investing, including an option from Kingdom Trust. According to Radloff, people have available capital in their retirement accounts for BTC, but have not pulled the trigger on buying.

“If you also look at people’s investible, discretionary money, they usually have three to four times more investible discretionary money in their retirement accounts than they do in their non-retirement accounts,” Radloff said.

Bitcoin means potential in retirement accounts

Bitcoin spells opportunity at present, given the number of people in the industry, matched with retirement account usage, Radloff noted.

He said:

“When I say this is the biggest opportunity for Bitcoin, especially in this kind of stock-to-flow model that we look at, I’m looking at 7.1 million Bitcoiners that have three times more investible money in their retirement accounts that aren’t using their retirement accounts to HODL.”

Mentioning the trillions of dollars at play in the retirement market, Radloff also noted a lack of workable structure around crypto and blockchain companies offering 401k options to their employees.

Radloff’s comment on opportunity comes with reference to Bitcoin’s stock-to-flow ratio, made by crypto Twitter analyst PlanB. The model essentially explains Bitcoin’s inevitable rising price due to its decreasing mining reward payout and limited maximum supply.

Source: https://cointelegraph.com/news/over-7m-americans-own-btc-but-hold-none-in-retirement-accounts

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Over 2,500 Austrian Merchants Can Now Accept Cryptocurrency Payments
Altcoins, Bitcoin, Multimedia
12/08/2020
57

Over 2,500 Austrian Merchants Can Now Accept Cryptocurrency Payments

More than 2,500 merchants in Austria can accept three types of cryptocurrencies via the payment processor Salamantex. The company explained that the system was tested with a number of select A1 5Gi network shops.

Since the Covid-19 outbreak, contactless payments have been trending more so than they ever were before. There are a number of traditional services that remove cash from the equation, but cryptocurrencies also provide the same ends except the means are decentralized.

This week the Austrian payment processor Salamantex announced that 2,500 merchants in the country will be able to support three different crypto assets via the system. The three supported assets include ethereum (ETH) dash (DASH) and bitcoin (BTC).

“Owners of [cryptocurrencies like] bitcoin and dash can be excited. From this summer on, they can spend their coins at more than 2,500 merchants using [the] A1 Payment service – provided the merchant has activated the feature,” Salamantex wrote.

The Salamantex team also mentioned how Austrians really like cash, but Covid-19 has changed that trend a great deal. Before the coronavirus outbreak, Austrians were extremely proud of cash and this was reflected in a large poll during the parliamentary election in late September 2019. One young Austrian woman interviewed during the poll said she liked cash because “you don’t leave a trace.”

“Although Austria is traditionally a country with a high affinity for cash, the last few months have led to a mind shift after people were called upon by the government and retailers to primarily switch to cashless payment transactions as far as possible,” the Salamantex announcement detailed. The company added:

With the integration of the Salamantex service software into the complete A1 payment package, Austrian retailers can now offer another payment option and thereby accept common cryptocurrencies.

Crypto assets have seen wider adoption in recent weeks, as news.Bitcoin.com recently reported on the Australia Post providing bitcoin (BTC) purchases via Bitcoin.com.au. Further, Centrapay revealed 2,000 Coca-Cola brand vending machines in Australia and New Zealand that now support BTC payments

Salamantex COO, Markus Pejacsevich is trying to usher in the same type of crypto payment adoption in Austria.

“Our goal is to make paying with digital currencies at the checkout as easy and natural as we have been used to with credit cards for decades,” Pejacsevich said. “The acceptance of cryptocurrencies opens up new affluent customer groups and enables merchants to position themselves as pioneers in their industry.”

Source: https://news.bitcoin.com/over-2500-austrian-merchants-can-now-accept-cryptocurrency-payments/

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How blockchain technology can change medicine
Blockchain
05/08/2020
64

How blockchain technology can change medicine

Although the best-known use of blockchain technology (BCT) is in the field of economics and cryptocurrencies in general, its usefulness is extending to other fields, including the biomedical field. The purpose of this article is to clarify the role that BCT can play in the field of medicine. We have performed a narrative review of the literature on BCT in general and on medicine in particular. The great advantage of BCT in the health arena is that it allows development of a stable and secure data set with which users can interact through transactions of various types. This environment allows the entry and operation of clinical data without compromising other sensitive data. Another important advantage of BCT is that the entire network is decentralized and is maintained by the users themselves; thus, there is no need to rely on organizations for storage. The Blockchain code is open source and can be used, modified and revised by its users. BCT literature is scarce so far. This article describes the basics of this technology and summarizes the various aspects in which BCT could change the paradigm of current medicine. The great potential of BCT, as well as its many applications in the field of health sciences, encompasses the fields of legal medicine, research, electronic medical records, medical data analysis (big data), teaching and the regulation of payment for medical services. If technological advances continue along these lines, it could bring about a revolution in medicine as we know it.

Source: https://www.tandfonline.com/doi/abs/10.1080/00325481.2018.1472996

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