Category Archives: fundraising

Auto Added by WPeMatico

Wikimedia Foundation Partners with Bitpay to Expand Crypto Payments

Wikimedia Foundation Partners with Bitpay to Expand Crypto Payments

The American non-profit and charitable organization behind Wikipedia, Wikimedia Foundation, has partnered with BitPay, a leading company providing Bitcoin payment processing services for merchants.

The partnership will allow the foundation, which has already provided a Bitcoin donations capability to the multilingual, web-based, free encyclopedia, to now add BCH donations through BitPay. BitPay’s chief commercial officer, Sonny Singh, who predicted at the end of last year that a USD 15,000 to USD 20,000 Bitcoin price would be a feasible outcome by the end of 2019, commented on the new partnership:

“Bitcoin and Bitcoin Cash are one of the cheapest payment options available so more money goes to charity rather than paying fees. Wikimedia does so much good around the world that it is a privilege to help them raise money.”

Singh was quick to point out that altcoins would be less fortunate than Bitcoin and would “never come back”, and the flagship cryptocurrency’s return to fortune would be driven by large company investment, some of which is already planned.

BitPay’s success has been notable in the industry with over USD 1 billion in transactions over the course of 2018 with record high revenues from transfer fees. Pats Pena, Director of Payments and Operations at Wikimedia Foundation commented on the new step:

“Our donors have shown an increased interest for different cryptocurrencies, so accepting Bitcoin Cash was a natural next step. We accept donations globally, and we strive to provide a large variety of donation options. It’s very important that we can get international donations processed in ways that are efficient and cost-effective.”

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Wikimedia Foundation Partners with Bitpay to Expand Crypto Payments appeared first on BitcoinNews.com.

SBI Group Pumps $15 Million into Blockchain Smart Card Wallet

SBI Group Pumps  Million into Blockchain Smart Card Wallet

Tokyo-based financial service company SBI Group has invested the sum of USD 15 million into blockchain smart card wallet producer Tangem.

Custom forms of Tangem blockchain cards available soon. Antenna qualification testing in process.#blockchain #blockchaintechnology #crypto pic.twitter.com/1raqSXCd4C

— Tangem (@Tangem) November 29, 2018

Tangem has been known to be among a few in the industry pioneering the production of hardware wallets for digital assets with its proprietary “physical banknotes of bitcoin”, described as a slimline hardware wallet for digital assets. It hinted on using the funds to further accelerate the deployment of its technology in other industries that support the physical distribution of blockchain assets.

Andrey Kurennykh, co-founder of Tangem, said : “We take the next big step on our mission to bring blockchain to people’s everyday life.”

Next to the complexity of the cutting-edge cryptographic solutions provided by blockchain is the need for security and streamlined use for cryptoassets that mimic traditional money qualities such as tangibility. While Tangem may be focused on the adoption of spendable cryptocurrency notes, security and portability still remain essential virtual commodities in cryptospace.

On the subject of hardware wallets, the need for crypto asset holders to protect their holdings in a more secure way cannot be overstated. Recent exchange hacks and shutdown have driven cryptocurrency owners to re-evaluate their storage options to consider the once that provide them with more control of their private keys. Perhaps, hardware wallet providers may soon have their field day with more adoption on the horizon.

However, that trip may not be so rosy after all. As oft as hardware wallets are considered secure comparable to the alternatives, these wallet class still have issues. About two weeks ago, UAE’s Beam wallet reportedly had a critical vulnerability; this was just one of several other reports of such glitches in the history of hardware wallet, even with major providers like Trezor and Ledger.

SBI Holdings Co Ltd has been increasingly showing a keen interest in cryptocurrency wallet providers, though its overall objective remains unknown. The first was with CoolBitX Ltd in March last year, a cold wallet provider based in Taiwan, where it holds about 40% investment share.

Last week, SBI Group was also reportedly involved in a funding round of another crypto firm Breadwinner AG, a Swiss-based wallet provider currently serving 1.8 million users in 170 countries.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: BitcoinNews.com

The post SBI Group Pumps $15 Million into Blockchain Smart Card Wallet appeared first on BitcoinNews.com.

UN Report Praises Crypto as “New Frontier” of Global Finance

UN Report Praises Crypto as

The United Nations (UN) year-end report has called Bitcoin and cryptocurrencies the “new frontier” in global finance with massive potential to revolutionize business.

Even before the release of the World Economic and Social Survey 2018, it remains no secret that the International Assembly has already invested heavily in blockchain through the International Children’s Education Fund (UNICEF).

The UN itself is not new to working with companies which apply the latest technologies such as blockchain.  Binance’s head of blockchain charity has indicated in the past that the technology would bring “transformative solutions to social problems, and help bridge the UN Sustainable Development Goals funding gap in fast and innovative ways”.

The UN’s latest report refers to the advantages of crypto, blockchain and distributed ledger technology and suggests a value token under consideration called ClimateCoin, which may be a way of addressing carbon emissions in the future, a major concern to many nations at present arguing, “Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, Bitcoin being a well-known example…”

ClimateCoin is being seen as one solution using cryptocurrency that would allow P2P exchanges of carbon credits allowing devices to calculate emissions and offset them accordingly by purchasing further credits.

UNICEF recently received a boost with companies including Atix Labs, Onesmart, Prescrypto, Statwig, Utopixar, and W3 Engineers being awarded the challenge of building prototypes for global issues such as health-care delivery, affordable access to mobile phone connectivity, and the ability to direct finances and resources to social-impact projects.

The UN’s main body expressed interest in “the new frontier” in May 2018 when it announced a collaboration with IOTA to increase the efficiency of United Nations Office for Project Services (UNOPS) operations.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post UN Report Praises Crypto as “New Frontier” of Global Finance appeared first on BitcoinNews.com.

A New Generation of Bitcoin Baby Boomers Starts With Two Week Old Investor

It’s a well-known fact that millennials are major investors when it comes to Bitcoin and other cryptocurrencies, but  Izabella Bowles has broken completely new ground becoming a Bitcoin hodler at the young age of two weeks.

Thanks to a cleverly worded ad in the UK’s flagship daily The Times by her father Peter, CEO at Dynamo PR, an award-winning tech agency for disruptive PR strategies across consumer technology, she is now £3000 better off. The ad read:

“BITCOIN BABY

On the 6th January 2019 to Wioletta (nee Witek) and Peter, daughter, Izabella Anna Bowles, sister to Philip. Weighed 2.2 kg. Bitcoin College Fund: 1ZAB5XeMdvax2S8eZT7GQ6Nj4xjbsw1Y”

By the time Izabella is ready to spend the funds, it could be worth a fortune, in fact, pundits have so far failed to predict that far into the future, but bitcoin reaching hundreds of thousands in the next decade was frequently on the tips of many analysts’ tongues at the height of the currency’s bull run at the end of 2017.

The parents initiated the fund in order to put their daughter through college, and with 300 people making donations so far ranging from £0.30 to nearly £300 it appears she may be on her way, although where Bitcoin goes over the next 18 years is anyone’s guess.

At its height, Izabella’s fund would be worth £15,000 but what college fees will be in 2037 is anyone’s guess. The National Union of Students in the UK claim that fees are currently standing at £10,000 ($12,870) a year.

Unfortunately, Izabella has already accrued a bill; the roughly £200 advertising costs for the placement of the ad in Saturday’s newspaper, which her father may well request back when she turns of age.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post A New Generation of Bitcoin Baby Boomers Starts With Two Week Old Investor appeared first on BitcoinNews.com.

“AirdropVenezuela” Recruits Steve Hank as Ally in Plan for Poverty-Stricken Nation

Hyperinflation expert Steve Hanke has teamed up with a Mexico City-based blockchain powered currency platform in order to get financial aid to Venezuelans.

Hanke, also a professor of applied economics at Johns Hopkins University, and AirTM, will work together on project “AirdropVenezuela”, which hopes to raise cryptocurrency donations up to USD1 million. Once raised, the funds will then be released to 100,000 Venezuelans via the AirTM platform.

This #GivingTuesday, AirTM launches Airdrop Venezuela – a campaign to raise USD $1MM for 100,000 ID-verified Venezuelans. 100% of the proceeds will go directly towards recipients’ wallets.

Learn how you can contribute:

https://t.co/MIezPXos8J pic.twitter.com/Fuye8LZaCV

— Airtm Inc (@AirtmInc) November 27, 2018

The annualized inflation rate hit a record high of 117,681% this month as Venezuela’s ongoing economic downturn continues to render the country’s currency, the bolivar, almost worthless. President Maduro continues to refuse to peg the bolivar to the US dollar, which has been cited as a possible solution, while the alternative cryptocurrency Petro is rarely available and little used. Also, President Trump signed an executive order in March 2018 which particularly targets Petro for sanctions. Along with Trump, many US lawmakers have also denounced the currency and passed bills to restrict its use.

Hank outlined his plains for an airdrop solution: “We provide in effect a clearinghouse that allows for the exchange of bolivars for dollars and vice versa… This is also much superior to distributing physical cash because you don’t have to run the risk of driving your armored truck into the country.”

Not only are armored cash-delivery vehicles at risk of hijacking, but most stores are empty of provisions due to the worthlessness of the Bolivar. Free trading is highly government controlled and the government shuns private foreign exchange dealing.

Hanke maintains that a sum of USD 1 million would open up the doors to Venezuela, prompting nationals to begin to use the US dollar for everyday transactions, thus helping to re-stabilize the struggling economy.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post “AirdropVenezuela” Recruits Steve Hank as Ally in Plan for Poverty-Stricken Nation appeared first on BitcoinNews.com.

Cameroon Separatists Raise Funds Through ICO

A Cameroon separatist movement has taken the unexpected steps to raise funds through an ICO in order to promote its political causes.

Ambazonia, also known as Amba Land, is a self-declared state consisting of the Anglophone portions of Cameroon which previously comprised Southern Cameroons. In 2017, the Southern Cameroons Ambazonia Consortium United Front (SCACUF) unilaterally declared Ambazonia to be independent, while the Cameroonian government stated that the declaration has no legal weight. The ensuing protests and violence are referred to as the Anglophone Crisis.

Ambazonia’s latest step has been to launch AMBACoin which closed its pre-sale on the 27th December falling short of its 100 million token sale target. The project was organized by a rebel group fighting for Ambazonia’s recognition from the Cameroon Government stating:

“All sales of the AmbaCoin will be directed to fund the Ambazonian Cause, to assist Refugees & Internally Displaced Persons, to rebuild homes destroyed by occupying military forces, and to defend communities from the repressive regime of La Republique Du Cameroun.”

The group had claimed that once they get to power, they would, as the official government of the region “buy back all AmbaCoin in circulation at the price purchased plus 34% interest.”

The unresolved conflict has resulted in more than 500 civilian deaths and almost 500,000 people had to flee their homes. Although the situation regarding Ambazonia is ongoing, the unofficial breakaway state does have a president and a national anthem. It has now added its own national cryptocurrency to these attributes.

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Cameroon Separatists Raise Funds Through ICO appeared first on BitcoinNews.com.

Overstock, First to Pay Tax in Ohio Using Bitcoin

Overstock, First to Pay Tax in Ohio Using Bitcoin

As the tax season approaches, popular US-based online retailer Overstock has said in a press release on 3 January that it will be the first US company to pay some of its Commercial Activities Tax (CAT) to the Ohio State in Bitcoin.

According to the press release, the payment will be done through the “state’s new cryptocurrency taxpayer platform, OhioCrypto.com,” following an announcement made by the State of Ohio last year that it will begin accepting tax payments in Bitcoin.

Overstock CEO and founder Patrick M. Byrne takes a positive stance with the government in ushering the era of smart technologies like the blockchain along with trust package. He said: “We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the US does not lose our place at the forefront of the ever-advancing global economy.”

Ohio Treasurer Josh Mandel commended the efforts of the retail giant to adapt quickly to the emerging markets being created by cryptocurrencies, saying that “their embrace of blockchain technology was ahead of its time.”

The State of Ohio is the first in the US to consider Bitcoin for tax payment. The OhioCrypto platform was launched in November last year. The office of the Ohio Treasurer will receive the US dollar equivalent of the Bitcoin through cryptocurrency gateway BitPay.

OhioCrypto offers businesses the opportunity to pay their taxes in cryptocurrency at a relatively cheaper transaction fee when compared with credit card transaction fee of 2.5 percent.

The history of Overstock is filled with consolidated efforts towards blockchain and cryptocurrency dominance, with partnership and publicly trading stocks issued through the blockchain in the wake of its blockchain adoption in 2014. At the time when it was just Bitcoin, a few Bitcoin alternatives, and initiator of smart contracts Ethereum. It began accepting Bitcoin as a payment option alongside MasterCard and PayPal.

While the Overstock company is scheduled to be sold next month, the blockchain-based business subsidiary Medici Ventures will remain active. More so, its security trading platform tZERO was regarded as one of the overachieving cryptocurrency projects last year after Chinese private equity firm GSR Capital showed interest in the project.

Ohio sits on the crypto-friendly list with its blockchain hub and enthusiasts pooling resources to fund startups. Now with the OhioCrypto tax payment platform, it stands on par with many other jurisdictions seeking worldwide Bitcoin adoption.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Overstock, First to Pay Tax in Ohio Using Bitcoin appeared first on BitcoinNews.com.

Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov

Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov

A press release published today by major local news media RIA Novosti says there is an increase in the demand for blockchain products and services within the Crimean region by foreign companies.

Vice-Premier of the Crimean Government Georgy Muradov told the news agency that the blockchain hub and their potential is of particular interest to the Chinese. He said: “Our Chinese partners are particularly interested in these projects, as there are a large number of startups in the field of cryptocurrency, crypto equipment manufacturing and those who work in the blockchain technology field in China.”

According to the press release, Muradov further explained the blockchain state in the peninsula with respect to mother Russia, he said: “While in Russia, at the legislative level there are no regulations governing the blockchain and the cryptocurrency market, the introduction of these technological solutions is postponed. Nevertheless, we have a project to create a cryptocurrency investment fund that can ensure the implementation of various investment programs in the Crimea.” He added saying, “we are talking about creating an investment fund in cryptocurrencies and a cryptocurrency exchange.”

Muradov made it known that the idea of cryptocurrency could help circumvent the limitations of relying on the dollar and also facilitate breaking away from the restrictions of banking policies. In this regard, he said: “The fact that the cryptocurrency turnover system is capable of solving the problem of avoiding the dollar and existing banking restrictions, which is relevant for the Crimean projects, is of no small importance.”

Talks of a blockchain cluster were first discussed in April last year when the project CryptoCrime was introduced during the fourth Yalta International Economic Forum. This was an opportunity to discuss the prospects of initiating cryptocurrency investment funds around the peninsula which was aimed at avoiding sanctions, as well as a cryptocurrency exchange.

The Russian Federation continues to be an attractive site for crypto-related businesses, as seen with the expansion of largest Chinese-based exchange Binance and that of Singapore Huobi into the Russian market. Russia is also home to some of the bright minds in the industry, as seen with the case of Ethereum developer Vitalik Buterin and Pavel Durov developer of the most preferred crypto-related community messaging app Telegram, which last year raised USD 1.7 billion in a seed funding round for its Gram cryptocurrency.

However, Russia has been somewhat slow to adopt a working regulatory framework for its blockchain and cryptocurrency industry with its drafts bill undergoing several edits, yet, a final draft is not ready to be passed. The peninsular Crimea may overtake the mother state in advancing the industry through its blockchain cluster as interests grow towards the region.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.


The post Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov appeared first on BitcoinNews.com.

Bakkt Announces $182.5 Million Funding Round, Launch Set for Early 2019

Bakkt Announces 2.5 Million Funding Round, Launch Set for Early 2019

In a blog post yesterday, institutional grade digital asset platform Bakkt announced the successful first seed funding round of USD 182 million.

According to the blog post, fourteen investors and partners were listed to have participated in this round, out of which 12 of them had raised the sum. Big players in the traditional finance and fintech industry were mentioned, to include Intercontinental Exchange, Goldfinch Partners, Boston Consulting Group, Microsoft’s Venture Capital arm and Pantera Capital.

The Bakkt project has for the latter part of 2018 been touted as the platform to finally make way for mainstream institutional investors to get into the cryptocurrency game. The blog reads: “Our work today is centered on driving institutional access for digital assets, along with merchant and consumer uses.” The project also revealed that they have expanded the vision to drive mainstream cryptocurrency adoption for the everyday user by extending their partnership to companies like Starbucks.

The announcement also included a current status of the project such as “working closely with the Commodity Futures Trading Commission for the better part of 2018” in order to obtain “regulatory approval for physically delivered and warehoused bitcoin.” They have also “filed applications and the timing for approval is now based on the regulatory review process.”

Another relevant angle the project will tackle while working through the 2019 objectives will also include a focus on “opportunities to provide new infrastructure, including the industry’s first institutional grade regulated exchange, clearing and warehousing services for physical delivery and storage,” reads the blog post.

The project has delayed its launch twice in a row as another official publication reveals that the updated launch timeline which was set for 24 January 2019 will be amended and set for early 2019, in line with CFTC’s process and timeline.

The blog post also revealed as many would agree, that 2018 was indeed an active year for cryptocurrency with Bitcoin at the center stage as volatility index peaked, as well as a notable increase in investment from venture capitals in distributed ledger technology and digital assets.

Many analysts and cryptocurrency enthusiasts have opined that the coming of the Bakkt will play a crucial role in restoring the market from the year-long bearish trend.

 

Follow BitcoinNews.com on Twitter: @BitcoinNewsCom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Bakkt Announces $182.5 Million Funding Round, Launch Set for Early 2019 appeared first on BitcoinNews.com.

Direct Debit vs Blockchain: Breaking the Donation Conundrum

Direct Debit vs Blockchain: Breaking the Donation Conundrum

Blockchain has the potential to deliver what all people want have been asking for over the years: payment environments where donor money can be tracked by all parties, ensuring support arrives at the point of need in its entirety.

Writer Richard Cornfield recently examined the questionable nature of donating to charity in today’s myriad of needy causes. He has examined the long accepted method of charitable donations and measured up against DLT in an attempt to establish if exploitative and ineffectual charities can be taken completely out of the equation.

The old model

Many people make snap decisions to upon request through TV advertising to donate to charities, particularly at this time of year. Those more regular donors set up a direct debit order. Street fundraisers are noted for “selling” this last option, given the unfortunate epithet “street muggers” as a result, according to Cornfield.

The problem is these muggers don’t actually work for the charities they appear to be fundraising for but outsourcing third parties who provide fundraising services for a host of different charities. As a result, they are paid a commission for setting up direct debits and are well trained to deal with all objections or considerations offered by potential donors.

Here lies the problem for the man in the street approached for a donation to Syrian refugees or famine in Sudan; where does the money go?

The street vendor makes his cut, typically EUR 50-100 for a direct debit set up but this does not go to the charity, due to the outsourcing company charging the charity about EUR 100, resulting in the donor, in reality, paying EUR 5 per month for four years or so before making any net contribution to the charity itself.

Once the money finally arrives at the charity, such organizations then allow 35% for admin fees leaving about 65% of the donor’s contribution after vendor and commission fees. Cornfield cites the infamous Red Cross case in Haiti after the devasting earthquakes of 2010 which raised half a billion dollars to rebuild homes. The result: six homes at USD 83 million dollars per house, in one of the poorest countries on earth.

Blockchain

Charities such as GiveCrypto.org, BitGive Foundation, and Alice SI facilitate charitable donations to areas in need via cryptocurrency.