Monthly Archives: December 2018

Dutch Province of Limburg Launches Community Crypto

Dutch Province of Limburg Launches Community Crypto

Dutch cryptocurrency platform Studio/Belfius has joined with payment platform LimbU in Limburg in the South of Holland to create its own cryptocurrency for promoting community spirit.

The initiators of the project suggest that the aim is to encourage sustainability, community support, promotion of local produce, and the creation of supply chains throughout Limburg’s 10 provincial regions.

Limburg is the southernmost of 12 provinces of the Netherlands. It is in the southeastern part of the country, stretched out from the north, touching the province of Gelderland, to the south, where it internationally borders Belgium.

The new digital currency, the “Limbu” has no fiat support but is transferable to users’ wallets throughout the province after locals complete a range of civically responsible activities such as; garbage collection, doing small repairs, giving blood, collecting clothes for charity, undergoing first aid training or composting organic waste.

The aim is to also encourage companies, public authorities, and associations to contribute through the scheme towards building a “greener, more welcoming Limburg.” The project’s member Wim Van De Putte explains:

“It was not easy finding the right partner with the required experience and expertise. But from the very outset, Studio Innovation Lab impressed us with its ability to understand this complex issue and its willingness to meet the challenge. In fact, The Studio has its own scalable platform for creating a digital currency based on the blockchain.”

As the project, Uitmuntend Limburg, grows in numbers, it plans to hand over to Limburg.net. and widen the range and scope of activities around the province, especially as thousands of Limburgers across the 10 regions already have their wallets. Ronny Neckebroeck from The Studio commented:

“We are honored to be part of such a beautiful project. Developing the platform and payment app is a major step forward along the way towards making the LimbU project a professional and sustainable initiative. Working with Uitmuntend Limburg, we will make the LimbU a success – we are sure of it. And our experience in innovative digital solutions and blockchain makes us the ideal partner for handling the technological side of this great story.”

At the beginning of this year, The Studio also developed Pengo, an innovative service that enables individuals to send payment requests via instant messaging platforms such as Facebook Messenger, and WhatsApp.

The Netherlands is a leader in advancing blockchain technology in Europe and often slips under the radar, but the Dutch government is no slouch when it comes to promoting the interests of companies adopting new technologies, especially when such projects benefit the entire community such as Uitmuntend Limburg. Holland is a country with a social conscience, and legislation over the years has illustrated the degree to which its population is a beneficiary of the desire shown by the government to support its society as a whole.

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BitcoinNews.com Daily Podcast 8th December 2018: BitCambio User Hits Jackpot

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Listen to the 8 December 2018 BitcoinNews.com Daily Podcast below.

On this edition of the BitcoinNews.com Daily Podcast, we analyze the markets as they sit near their lows for the year. Hear about a BitCambio user who withdrew USD 128 of cryptocurrency, and got USD 35 million in their bank. Learn about a bet from Morgan Creek that crypto will outperform the S&P 500 over the next 10 years.

Follow the Bitcoin News Daily Podcast on AnchoriTunesSpotifyGoogle PodcastsStitcherRadio PublicPocket CastsOvercastCastbox, and Breaker. We broadcast a new episode every day, covering the most important topics in the crypto, Bitcoin, and blockchain world!

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MinexPay Announce Seamless Crypto-to-Fiat Solution and Public Test for its Crypto Cards

Minexpay

There is no shortage of wallet solutions for storing cryptocurrencies, yet none of them gives users the ability to own their own cryptocurrency bank account for spending just like any other fiat account. While numerous third-party solutions exist to help users convert crypto to fiat for daily spending, none of these solutions offers the seamless usage fiat is renowned for.

This hurdle remains one of the biggest obstacle facing the mass adoption of cryptocurrencies despite its myriad of benefits. For cryptocurrency to gain that foothold it sorely needs for mass adoption, there is a need for a fast, seamless, secure, and easy to use service solution. Estonian-based blockchain startup, MinexSystems, has announced the public testing of this first of its kind solution.

Your Wallet, Your Pay   

Initially developed for MinexPay’s ecosystem use case, MinexSystems’ team have created a frictionless and intuitive web wallet designed to cater to the daily use requirement of cryptocurrency users. This innovative solution seamlessly enables users to convert their cryptocurrency into fiat for spending just like any normal fiat bank card.  Boris Shulyaev, CEO of MinexSystems, said:

“We want to provide a seamless service for any customer, wherever he or she is. MinexPay is the only solution designed to work globally. We believe that cryptocurrency holders want to use their crypto funds as ordinary money. This is why we focused on the MinexPay Web Wallet service first, with the card as a financial management instrument.”

Minex Web Wallet is the critical component of its payment ecosystem, enabling users to control their funds and make faster payments from their favourite device. The system is compatible with virtually all types of bank payment without the bothersome card-issuer problem that had hindered previous attempts at facilitating such services. Boris Shulyaev also stated:

“We may consider connecting users’ existing cards to the MinexPay system in the future”.

All Systems Set

Ahead of its global launch, MinexSystems is launching a public beta test in collaboration with Ukraine’s PrivatBank. The collaboration is set to enable users exchange cryptocurrency to fiat through cards issued by the bank. Unlike the current crop of cryptocurrency cards, cryptocurrencies are not sent to the bank accounts of the users, rather the bank directly facilitate liquidity, ensuring that the ecosystem is legally compliant.

Following the conclusion of the public test and integration of feedback and improvements gleaned during the event, MinexSystems will issue branded MinexPay cards to users.

How to Participate in the Public Test?

While participation is opened to the global community, participants will have to physically visit

MinexSystems’ office to be handed their test cards. Further details about the product can be accessed on MinexPay’s Telegram chat or by contacting its online support support@minexsystems.com. Development update, progress, and outlooks about the Minex Web Wallet, MinexPay and other company’s products can be accessed on the company’s blog.

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EOSBet Obtains First On-Chain Gambling License on the EOS Blockchain

EOS

In a press release dated 30th November, first decentralized EOS-based cryptocurrency casino EOSBet announced that it is the first to be licensed as an on-chain open-source gambling site. EOSBet announced that it has successfully obtained an online certification to be an operator of a casino. This license was obtained from the world renowned online gambling regulator Curaçao eGaming. The Caribbean regulator is one of 4 and the oldest and established online gambling regulator with exclusive rights to sub-license its master gambling license which was accorded to it by the Ministry of Justice.
The EOSBet project is an EOS-based casino built as an on-chain decentralized gambling application, that allows players to gamble with their EOS tokens. Two types of games are currently available, the dice throwing game and the baccarat card game. The obtaining of the license is a huge development for the project and will help them operate within legal frameworks. EOSBet Marketing representative Frej said the following about the development of the project:

“We’ve worked relentlessly to make this license succeed and we will continue to strive to be the standard for smart casinos.”

Growing Support

So far, patronage has been growing with over USD 5 million betting volume already recorded. This has set the record as being the top-rated decentralized application on the EOS network. The solutions provided by this platform are meant to address the most fundamental problems of a centralized casino, to include slow gameplay, high fees, and unfair house advantage.

The advantages provided by the platform enables bettors to place their bets through smart contracts on the EOS blockchain, this makes it impossible for bettors to play an unfair game. Other advantages provided by the platform include instant transactions, near zero latency and zero fees.
BET Tokenomics

The native token of the platform is the BET token, which is a utility token that allows holders to earn profit-sharing. As the first ‘community-driven online casino’, allowing holders of the BET token to earn dividends from the profits being made on its platform, EOSBet positions itself as a revolutionary disruptive online gaming entity. Dividends are paid out based on the token holder’s BET balance.

A major milestone achieved by the EOSBet since its launch is having more than 70 million EOS placed as bets in just under 10 million bets. So far, in just two months of operation, USD 1 million has been paid out in dividends to holders of the BET token. To spread the word, a referral program is being run with a 0.5% reward from bettors to their referrers. There’s also the incentive to motive new members to join as 0.5% of their winning bets are also credited to their account.

With this license, EOSBet is able to operate all forms of interactive gambling. With a new game in the works almost completed, the platform is also preparing for a website overhaul. More so, the project is expanding its team, and releasing new tweaks periodically to ensure that it competes with legacy casinos out there in order to fulfill its long-term vision.

Visit the EOSBet Official Site – https://dice.eosbet.io/
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Coinbase CEO: Virtual Reality and Crypto Next Big Combo

Coinbase CEO: Virtual Reality and Crypto Next Big Combo

Coinbase CEO Brian Armstrong has said that cryptocurrency has the potential to turn Virtual Reality into a full-time job.

Armstrong suggests that virtual spaces could create their own currencies or even make use of existing ones such as Bitcoin or Ethereum by integrating the means for users to spend crypto in the same way as they are currently using fiat.

Developers would see more time spent on such games, according to the Coinbase boss, taking it much further into the realms of Sci-fi by suggesting that players could use the virtual world to support themselves in the real world, cashing in their accrued gaming funds for “real” use, such as paying rent. He speculates:

“Perhaps we’ll see virtual bank buildings with pillars, virtual bank vaults that spin when you open them, and virtual tellers with glasses.” The exchange magnate, clearly a follower of the gaming and VR world added, “Ready Player One had a great visual of coins being collected in the game, and spilling out of characters when they were killed (leaving a big pile of loot on the ground).”

Clearly, Armstrong has seen the potential of turning VR ownership into the real thing via some of his own exchange-listed cryptocurrencies. But in reality, there’s still a long way to go – crossing the bridge from virtual into reality.

Armstrong appears to be in touch with the man on the street, if not through gaming and VR, then certainly in terms of what reality actually means for many of the world’s “have-nots” these days. This was shown by his recent personal $1 million giveaway through his charity project called GiveCrypto.

The project is a global enterprise which will give out cryptocurrency donations to worthy recipients, who will then be able to make personal choices in whether to keep their donations as cryptocurrency or exchange them for fiat. GiveCrypto wants to raise USD 10 million by the end of 2018 and grow to a fund of USD 1 billion over two years. Donations will hopefully come from wealthy donors who have amassed wealth through cryptocurrency, passing on their good fortunes to those in need of financial help. Suggested cryptocurrencies for donations are Bitcoin, Ripple, and Zcash.

Ripple’s co-founder Chris Larsen has already put in an undisclosed donation into the Armstrong charity hat. This may not be all that Ripple will be putting into Coinbase’s coffers if recent news that Coinbase plans to list XRP on its exchange becomes reality…. that’s not a virtual one by the way!

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American Express Praises Ripple for Cross Border Payments

american express

According to a top American Express representative, Ripple has the potential to revolutionize cross-border transactions globally.

Speaking in Madrid recently at the Wings of Change Europe conference, Carlos Carriedo, the credit card giant’s general manager of corporate payments indicated this was one reason that blockchain integration was high on the company’s agenda for change.

Clearly, Ripple’s XRP has caught the eye as the preferred blockchain route for the company moving forward, if Carriedo’s views are a clear representation of the Amercian Express’ programme for future development of financial services around the globe. He explained why his company was looking at Ripple becoming a significant blockchain partner in the future:

“Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a fintech lab based on blockchain technology, just to understand how to leverage this better…We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions…And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.”

Ripple itself has just joined three other partners to form a European blockchain called “Blockchain for Europe” in order to bring together what it describes as “fragmented” voices in Europe into a “more unified whole” in matters of the blockchain. Such moves are sure to offer confidence to intuitional players such as American Express, in the fact that Ripple is becoming a far more representative voice for the blockchain industry as a whole, despite its Bitcoin purist detractors.

Ripple is spreading its global network. And by working with American Express, collaborating with Santander to reduce the current inefficiencies of cross-border payments it has heightened its global profile. Also, significantly Ripple has gained approval to operate in China, opening up other opportunities in the region.  By using Ripple, Santander has stated that it wants to fundamentally change cross-border payments universally by establishing a strong alliance between the two companies. AM’s Carriedo again, speaking of the future of payments:

“There is more to come. There’s still a lot of things that need to get addressed with blockchain as a technology. But it’s very promising…The future is definitely digital. Digital is the way payments will continue to be across both the consumer part of the business the commercial part of the business”.

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User Withdraws R$500 From Crypto Exchange, Gets R$137 Million

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Kaique Nunes, a customer of the Brazilian cryptocurrency exchange Bitcambio, might have gotten the thrill of his life when he withdrew BRL 500 (USD 128) of cryptocurrency and received BRL 137 million into his bank (USD 35 million). Unfortunately, he is being inexorably dragged to the notary office, in order to sign a document to give all that cash back.

Nunes apparently received a phone call from Bitcambio saying there was a document at the notary office he needed to sign, since they gave him the wrong amount of money when he withdrew his cryptocurrency, and signing the document would return the money to Bitcambio. Nunes explains that he thought it was a hacker who had compromised his account information and wanted to obtain his signature, so he hung up on Bitcambio.

Nunes proceeded to ignore Bitcambio for as long as he could, but they kept calling to convince Nunes to sign the document to cancel the bank transfer. The platform vendor for Bitcambio, Rodrigo Souza, posted a series of comments to social media which say “People, the mistake really happened. Kaique will be reimbursed for all the costs he has to go to the notary’s office to solve this shit. Notice is already being canceled… At Bitcambio everything is done strictly within the law. Mistakes happen, we are not afraid to have their attention”. 

Souza admits that Bitcambio went to City Hall to cancel the USD 35 million withdraw, but the city said that Nunes must agree since the amount is so high. This means that Nunes can legally keep all the money, at least until it is escalated to civil court. That being said, Nunes affirms that he will go to the City Hall and notarize the withdraw cancellation, although there is no confirmation that he actually did that.

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Fremantle in West Australia Allows Residents Trade Solar Power Using Power Ledger

Residents in Western Australia’s (WA) historical coastal port of Fremantle may soon be able to trade solar power on a blockchain based platform.

The project, brainchild of renewable energy-focused crypto startup Power Ledger, plans to include 40 participating Fremantle householders next June according to Ben Wyatt, WA Minister for Finance, Energy and Aboriginal Affairs.

Once the trial is underway next year, householders can set a price at which they are willing to purchase and sell solar power for and finally carry out their transactions on a blockchain-enabled platform. Minister Wyatt explained, suggesting these households could well be the first in the world to sell their rooftop generated power back to the grid in this way:

“The trial represents an innovative solution to virtual energy trading that may have implications for energy utilities working to balance energy supply and demand all over the world.”

The trial has been enabled through a RENeW Nexus Project which has been exploring how DLT can integrate distributed energy, including water systems infrastructure in future city planning schemes. Power Ledger is already on this road after embarking on a similar project in the US  with energy supplier American PowerNet.

Aussie Crypto Startup Power Ledger Brings P2P Energy Trading to Largest US Market https://t.co/OiVpHq5eON

— CCN (@CryptoCoinsNews) November 18, 2018

The US project enabled the solar power generated on the rooftops and carports at the headquarters of American PowerNet to be distributed to the surrounding businesses using Power Ledger’s xGrid platform. American PowerNet’s president, Scott Helm explained:

“Rather than just dump our excess solar power on to the grid, we’re thrilled we can now provide clean, sustainable power to our neighbors.”

Power Ledger has been making a name for themselves in technological innovation recently following their success in winning the 2018 edition of Extreme Tech Challenge (XTC) sponsored by billionaire founder of Virgin Group, Sir Richard Branson. Their winning spot resulted in the startup going on to receive financial endorsements totaling millions of dollars.

Fremantle’s nearest city, West Australian capital Perth, has also made the crypto news this week after announcing the opening of its first blockchain centre, designed to become a  supportive business environment to encourage young start-ups to stay in the region, rather than moving overseas.

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