Daily Archives: June 3, 2018

PR: HybridBlock Partners with TrustToken to Bring TrueUSD Stablecoin to Exchange Base Pairings

Bitcoin Press Release:  HybridBlock, a cryptocurrency trading and education platform, has announced a strategic partnership with TrustToken, the creators of fully compliant stablecoin TrueUSD (TUSD).

May 29, 2018, Singapore: As a USD-backed stablecoin, TrueUSD can be redeemed 1-for-1 for US dollars, helping mitigate risk and volatility for cryptocurrency traders. HybridBlock will implement TrueUSD on its exchange product, HybridExchange, as well as BaseTrade, a cryptocurrency platform that allows users to easily buy or sell cryptocurrency in just a few steps.

The partnership announcement follows an exciting month for both companies, as HybridBlock enters its highly-anticipated public token sale, and TrueUSD recently lists on Binance, the world’s largest cryptocurrency exchange, and has grown to a market cap of over $33 million since its inception less than three months ago.

TrustToken Co-founder and CTO Rafael Cosman says,

“With TrueUSD, we set out to build a trustworthy stablecoin. We appreciate that HybridBlock sees the value that TrueUSD will provide to traders on BaseTrade. The HybridBlock team is showing responsibility and a long-term view in meeting their community’s needs.”

HybridBlock Co-Founder Apolo Ohno explains,

“TrustToken and TrueUSD are a world class team and product. We are very excited to integrate TrueUSD within the HybridBlock ecosystem as one of the top stablecoin solutions for traders globally.”

TrueUSD Functionality Within HybridBlock

As a stablecoin, TrueUSD provides traders with protection through legally enforceable escrow agreements. Every TrueUSD is fully collateralized by USD, held in professional trust firms’ escrow accounts and can be purchased or redeemed directly (apply here for access). TrueUSD will be utilized on HybridExchange to serve as a base pairing to allow traders to hedge against market volatility, providing a robust solution for intermediate traders. HybridExchange will go live in early June 2018 and will be one of the first exchanges to list TUSD as a base pairing, also known as a quote currency. Initial base pairings with TUSD will include BTC/TUSD, ETH/TUSD, LTC/TUSD, XRP/TUSD, and HYB/TUSD.

On BaseTrade, TrueUSD will serve as the initial token distributed to traders loading their accounts via wire transfers. Once accounts are loaded with TrueUSD, users will be able to quickly buy major cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple and HybridBlock Token. HybridBlock will be one of the first to allow users to transition from fiat to crypto and back to fiat using a stablecoin.

TrueUSD gives BaseTrade traders a method to enter the cryptocurrency markets without immediate exposure to volatility. This gives users an opportunity to make informed decisions about which coins to buy or sell on their own timeline.

About TrustToken:

TrustToken is a platform to create asset-backed tokens that you can easily buy and sell around the world. For example, gold to gold tokens or dollar to dollar tokens. The company’s first asset token is TrueUSD, a stablecoin that you can redeem 1-for-1 for US dollars. TrustToken was founded in 2017 by a team from Stanford, UC Berkeley, Palantir, and Google, and is backed by Stanford-StartX, Founders Fund Angel, FJ Labs, and BlockTower Capital. For more information about TrustToken and its TrueUSD product, visit http://www.trusttoken.com.

About HybridBlock:

HybridBlock is the world’s most innovative cryptocurrency trading and education platform. It is an alternative for those who want to benefit from the explosive growth of cryptocurrencies without the high risk and complexity that accompanies digital asset trading. HybridBlock is simply the most efficient and effective way to participate.

Through cutting-edge blockchain technology, we are aspiring to revolutionize cryptocurrency education and usage in Asia – a market of over 4.4 billion people. HybridBlock’s international team is comprised of technologists, financiers, and well-known entrepreneurs who are all passionate about providing the best user experience within the cryptocurrency market. Read the whitepaper here.

Website: https://hybridblock.io/
Telegram: https://t.me/HybridBlockHQ
Facebook: https://www.facebook.com/hybridblockofficial/
Twitter: https://twitter.com/HybridBlockHQ
Youtube: https://www.youtube.com/channel/UCbzLOZaEegUfTVBJQeSc0sw

Press Contact:
Name: Henry
Email: henry@hybridblock.io
Location: Singapore

TrueUSD is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

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Brock Pierce Plugs “Puertopia” at Futurama Crypto Summit

The 2018 Futura Blockchain Summit held last month in Dubai has been hailed by many guests as the best crypto convention ever, according to Bitcoinist.

The summit brought together more than 300 leaders of the crypto world, including Bitcoin entrepreneur Brock Pierce.  Reportedly it was the largest convention of the cream of crypto society assembled together, including opinion leaders, famous businessmen, investors, and cryptocurrency enthusiasts.

Futurama was pitched as being:

“A  unique, 4-day summit, giving an impressive networking experience. Futurama unites the best crypto leaders and most exciting projects through pre-screening and personally chatting with each presenter since the highest quality of the event and the involvement of each participant can be reached only in this way.”

Brock Pierce entertained the assembled with his views on his Puerto Rico project “Puertopia” as the summit got underway, explaining:

“Our main aim is to create the city of the future. In particular, I’ve been searching for the place where we can do the real effect and provide help. There are a lot of problems in Puerto Rico. 20,000 younglings and ambitious people excited to change the planet and make the difference, they just need a chance to do it. I hope you will find the opportunity to come here and see it with your own eyes. It’s a beautiful place.”

Joshua Hong opened the official summit part with the incredibly warm speech and fellow panelist Miko Matsumura focussed on the role of AI in the decentralized world.  Other top speakers were Nicholas Merten, the founder of DataDash, Michael Suppo, also well-known as Suppoman, running a YouTube channel with more than 147,000 active followers and Evan Luthra, young investor, entrepreneur and motivational speaker who spoke for Google and Blackberry.

One of the most innovative startups at the event was reportedly GoByte, a project that implements a commercial payment and business solution. Exchanges Bithumb, Bitinka, and Coinsbank were also represented in panel discussions.

It wasn’t all about the crypto space.  A convoy of 50 land cruisers descended on the desert as part of a dune safari, hot air balloon flights were the order of the day, as was a star-studded yacht party and a Desert Rose Party which brought the crypto milieu together to relax after the panel events with no expenses spared. Investors mixed together and discussed the big thing, whilst the more active guests danced amongst fellow crypto personalities before fireworks lit up the desert sky.

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Australia on Trend With Its First Crypto Friendly Town, Complete With Bitcoin Billboard

The small Australian beachside town of Agnes Water in Northern Queensland has gone crypto crazy with 30 local businesses accepting Bitcoin, claiming to be the country’s first “digital currency-friendly” town, reports ABC News Australia.

The town is launching its campaign this week with a new billboard announcing their claim which proudly sports the Bitcoin icon. Crypto groups and tourists from Japan have been invited to the launch in the town of 1800 inhabitants. The project plans to attract international tourists to pay for goods in Bitcoin, which can immediately be converted into Australian dollars.

Local real estate agent Gordon Christian said he won local businesses’ support to bring the technology to the town to boost its main industry, tourism, and also to attract an “alternative” type of traveler.

Bitcoin in Australia currently stands 18th on the Bitcoin Volume by Currency index and cryptocurrencies are not yet regarded as legal tender, so the town has taken to the challenge of elevating the profile of digital currency use. Such enterprises are growing in the country from state to state as retailers, restaurant’s and café’s come onboard in ever-increasing numbers.

TravelbyBit CEO Caleb Yeoh said it was early days for the currency, and that there was strong support for it as a “social movement”. The company currently supports many new crypto enterprises in the hospitality industry including the new crypto project with Queensland’s International Airport retailers, which is off to a slow start with just a handful of transactions in the airport each day so far, worth between $5 and $55.

“If you travel around the world you have to deal with multiple currencies, the exchange rate can be confusing, sometimes you struggle to find ATMs, and sometimes you get swindled by money changers,” he said, adding “Travelling with one global currency like Bitcoin … makes sense.”

Gordon Christian said that he was motivated towards the town’s new project by the recent announcement that Brisbane airport had taken the title of “a crypto friendly airport,” and also being asked by a customer if he accepted Bitcoin. The estate agent also added that another advantage was that blockchain technology could protect merchants from the costs of credit card fraud.

He pointed out that the project was slow to start, but soon gained momentum:

“Initially we had a good 10 businesses that just said, ‘Fine — let’s go for it…then the idea spread across the town’s tourism industry with the “digital traveler” in mind.”

Thirty-one businesses in the town have now signed up, from resorts and backpackers to tour companies, restaurants, the local pub and a day spa.

Christian is clearly positive with the outcome, suggesting “It’s a whole new world”

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BitGive and the University of Edinburgh to Solve Third World Problems

The first crypto-philanthropy network BitGive has collaborated with the University of Edinburgh for research purposes. The newly forged partnership points out great possibilities on the blockchain technology front.

The research-based collaboration aims to establish the appropriate effects of cryptocurrencies on local and international charities. Both parties are vouching for more organized and stronger charitable institutions accepting donations in crypto.

In his statement, the BitGive’s founder Connie Gallippi expressed confidence that the new partnership will help to reshape the way charitable contributions are managed and organized. He made this remark while referencing the recently launched blockchain powered GiveTrack platform in October 2017.

The GiveTrack Platform

The GiveTrack platform is the only digital assets donations tracking technology available on the blockchain. It allows individuals to trace their contributions and monitor how they are spent in real-time.

As per the firm’s report, GiveTrack platform is gaining popularity day by day. This is because of its ability to provide direct donor and receiver engagement, plus its ability to report on the charity projects’ outcome promptly. The partnership will help in fighting third-world challenges using cryptocurrencies. BitGive will analyze the data about the acceptance and feasibility of cryptocurrencies using GiveTrack platform.

According to Connie Gallippi, the most fundamental concept they have ever come up with is that of tracking digital assets meant for charities on blockchain. However, this has brought both challenges and opportunities in almost an equal measure. Partnering with the University of Edinburgh has opened the door for BitGive to maximize on the opportunities and delve on the challenges brought by GiveTrack platform.

Dr. Claudia Pagliari, a leading research partner at the University of Edinburgh, applauds BitGive for planning and delivering projects using GiveTrack platform. In her statement, she says that Connie and her team have gained important insights on how cryptocurrencies can be used to support humanitarian organizations in developing countries.

BitGive is banking on the new partnership to learn and understand complex and contextual factors marring humanitarian projects. The company hopes that the new approaches developed in the partnership will change future outcomes of such projects.

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Will Bitcoin Score at 2018 FIFA World Cup as Russia Opens Doors to Crypto

This year’s FIFA World Cup 2018 in Russia is only days away and Bitcoin could be a beneficiary as thousands of football fans will now have the opportunity to spend their bitcoins at the eight-week event, reports Forbes.

Businesses and hotels at many of the stadia locations have announced that Bitcoin will be widely accepted in order to bypass Forex foreign exchange delays as the event kicks off on June 14th.

Russia is expected to see half a million tourists at the 21st World Cup tournament, with many supporters arriving from Europe and South America. Hotels in many of the locations including Moscow, Kaliningrad, and St Petersburg have been accepting Bitcoin bookings since April, and it has proven to be an excellent way for fans to avoid the usual currency exchange headaches.

Airline bookings are also available for crypto users, with budget airlines such as CheapAir and travel agency Destinia offering cryptocurrency bookings. For those wanting to take a gamble and bet on the outcome and results of matches, Bitcoin sportsbooks, reputed to be the future of betting, allows players from all over the world, without restriction, to participate regardless of what part of the globe they hail from. Users can make instant and free withdrawals and deposits whenever they want.

US companies Visa and MasterCard have blocked credit card services to some Russian bank customers in the past as a result of U.S. sanctions which have been in force since 2014. As this affects digital payments, it remains to be seen if fans from overseas are able to bypass such difficulties. Although, the Russian hospitality industry has become increasingly welcoming towards digital currencies with the increased customer traffic it is bringing as a result of the event.

The advantage of Bitcoin as a decentralized currency, free for political interference, is that users can make payments wherever they go using the internet. With an increasing number of merchants accepting bitcoin and other digital currencies, tourists to Russia should be able to pay for some goods and services using their digital currencies without too many difficulties.

Russia’s overseas invasion of card-carrying bitcoin users is predicted to expand traffic of the network, should they decide to spend their money using digital currency.

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Sweetbit Candy Dispenser Proves Efficiency and Practicality of Using Bitcoin as a Currency

David Knezic finished building a machine called Sweetbit on 27 May 2018 which dispenses candy in exchange for Bitcoin, and it proves the practicality, efficiency, and seamlessness of using Bitcoin as a currency. The video demonstrating Sweetbit can be found in the below tweet:

Just finished my Bitcoin-enabled candy dispenser 🍬pic.twitter.com/pU2xJdBIyx

— David Knezić (@davidknezic) May 27, 2018

In the video, David Knezic scans a QR code attached to the Sweetbit machine with a Bitcoin wallet on his mobile phone, and this instantly tells his wallet which address to send the Bitcoin to. Using QR codes is an excellent way to avoid errors when sending Bitcoin, since missing one letter or number in a Bitcoin address can result in your Bitcoin payment getting lost.

He then enters the amount he wants to pay for the candy, in this example he uses 1 Swiss Franc (CHF). The transaction fee is 0.09 CHF, which is a bit less than the current average transaction fee of 0.19 CHF (USD and CHF are at parity as of this writing). Bitcoin transaction fees have been much higher than this in the recent past, and in general, a solution like the Lightning Network is needed to ensure Bitcoin micropayments will be feasible over a long term.

Within seconds of sending the Bitcoin, the Sweetbit machine dispenses the candy, showing just how incredibly fast and seamless a Bitcoin transaction can be. David Knezic designed it so that it dispenses exactly how much candy you pay for. Sweetbit uses information directly from blockchain.info to see if any payments come in, and is set to dispense candy as soon as a transaction comes in and does not wait for any confirmations.

Most merchants wait for at least 1 confirmation on a Bitcoin transaction before giving a customer the goods or services they paid for, to prevent being scammed by double spend transactions from a 51% attack. Realistically though a 51% attack would take an incredible amount of mining power to perform successfully, and it is unfathomable that someone would do a 51% attack to rip off a candy machine. Generally, for micropayments like candy, coffee, and beer there is no need to wait for confirmations.

David Knezic made the code for Sweetbit open source and released it on GitHub. He says he is looking to develop a similar program which uses the Bitcoin Lightning Network, which can process far more transactions per second at a lower fee.

This sort of technology is what’s needed for Bitcoin to become a global currency. The Sweetbit video shows how Bitcoin can be more efficient than cash or card. With Bitcoin, you can simply scan a QR code with your phone and purchase a product instantly.

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HB10: Trade 10 Assets With Huobi’s Blockchain Powered ETF

The Singapore headquartered Huobi has announced the debut of the crypto-based exchange-traded fund (ETF) HB10. This means retail traders will now be able to trade in various assets portfolios instead of trading in just one asset at a time.

“Retail traders have been used to the various investment options that accept transactions both in cryptocurrencies and in fiat money, but this investment instrument only accepts cryptocurrencies”.  The company confirmed when it announced its crypto-based exchange-traded instrument called HB10 on Friday.

Founded by Leon Li way back in September 2013, Huobi is focusing on the Chinese market and the Chinese retail investors. Despite focusing on this niche, the HB10 subscription is open to all investors across all blockchain powered investment networks. As reported earlier, the index reflects the overall performance on Huobi Pro using weighted samples.

According to the firm’s recent report, the foreign traders can also register and trade on the HB10. Registration can be done through the verification process on the Huobi website. Essential parameters to trade include personal information, email address and verification of the user’s real name.

In an attempt to disclaim the remarks, one of the company representatives told CoinDesk that the new product would have similar restrictions like the Huobi Pro despite being open for subscriptions. The new instrument excludes investors from the U.S. due to the hindrance from U.S. Securities and Exchange Commission (SEC) security concerns.

“Because of regulatory uncertainties this new offer is available to investors based in China only”. The representative remarked.

Huobi 10 index

Reports from the firm indicate that HB10 was invented to replicate the Huobi 10 index. The Huobi 10 index was used to track 10 assets in real time. The 10 assets were invested in a portfolio and tested for their liquidity and market capitalization on the Huobi Pro exchange.

Diversification of risks

As reported earlier, HB10 is expected to reduce investors’ exposure to risks of trading various cryptocurrency assets through diversification. This optimism is based on the Huobi Pro indication of market performance using weighted samples and data tracking.

As they announced the launch of the HB10 investment instruments, the company has also invited institutional investors to partake on the feasibility of the trade instrument.

“Because we are dealing with a portfolio of investment in various cryptocurrencies, the impact of institutional entry and exit on single cryptocurrencies will be eradicated”.

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PR: WorkChain.io Unveils workID, the World’s First Immutable CV on the Blockchain

Bitcoin Press Release: The decentralized application workID verifies an individual’s work history and qualifications on the blockchain and is being hailed as “LinkedIn in on the blockchain”.

May 29, 2018. George Town, Cayman IslandsWorkChain.io, the blockchain solution for the future of work, has launched its debut decentralized application workID, the world’s first Immutable CV built on the blockchain that is designed to transform how the professional world works.

WorkChain.io CEO Ivan Petrovic, a veteran of the workforce technology industry, made the official announcement, revealing how workID will use blockchain technology to shape the future of work, hiring and even payroll.

Mr. Petrovic said:

“In today’s working world, employers stand no chance when it comes to trying to vet candidates. A line in a resume can be easily made-up and LinkedIn is unreliable because more than a third of people lie on their LinkedIn profile. WorkID uses advanced blockchain technology to build the world’s first immutable CV that contains only trusted, verified data. It will revolutionize the future of work, giving employers an unprecedented ability to hire with certainty and employees will gain true ownership of their identities.”

workID is a decentralized application built on top of the WorkChain, a public ledger of verified proof of work records created through integrations with trusted data sources, such as workforce management and payroll systems.

Using the verified records the WorkChain creates, workID combines work, academic and payment histories in a single, universally-accessible and searchable profile which verifies information such as:

  • Full and part-time employment history
  • Position(s) held, start and end dates
  • Individual shifts and contracts
  • Skills
  • Degrees attained, institutions attended and academic records
  • Payroll and leave records

workID is the first decentralized application built on the WorkChain through the platform’s proprietary blockchain protocol. The second, workPAY, will enable real-time payroll processing using the verified work records of the WorkChain platform.

“The way the world works is shifting rapidly toward on-demand and independent work,” Mr. Petrovic continued. “For example, in the US alone, there are 78 million hourly wage workers and 50 percent of people are expected to work independently by 2020.

“These on-demand workers can be hired in the blink of an eye and complete a job in real-time, but often wait weeks or even months to get paid due to slow, traditional payroll cycles. With workPAY, we’re creating freedom from payroll cycles by enabling real-time payments on the blockchain.”

workPAY uses the validated proof of work records of the WorkChain to create real-time payouts for employees and simple, automated payroll processing for employers.

Through workPAY, WorkChain.io is aiming to become the first blockchain platform to directly create opportunities for people in traditional jobs to earn cryptocurrency.

Development of WorkChain.io began in mid-2017 and the platform had its beta launch in April 2018.

workID is now live by invitation only by visiting www.workchain.io or by joining the company’s official Telegram group. Test payments through workPAY are scheduled to begin in the coming months.

About WorkChain.io

WorkChain.io is the blockchain solution for the future of work, creating better ways to get hired, paid and access capital. WorkChain.io is a Cayman organization employing people globally through offices in California, Panama, and Serbia. The WorkChain.io team has spent the past ten years working hands-on in the global workforce management sector and collectively founded seven successful ventures.

View workID Demo: https://workchain.io/ryan
Visit Website: https://workchain.io
Read the Whitepaper: https://workchain.io/whitepaper
Follow us on Twitter: https://twitter.com/workchain_io
Chat on Telegram: https://t.me/workchainio
Read our Medium blog: https://medium.com/workchain-io
Follow us on LinkedIn: https://www.linkedin.com/company/workchain-io/

Media Contact
Name: Seb Kipman
Email: seb@workchain.io

WorkChain.io is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

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