Category Archives: trade

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Russian Lawmaker Suggests Crypto for Arms Exports to Avoid Sanctions

A senior Russian lawmaker has said he believes a cryptocurrency backed by gold may be the right course of action to avoid Western-imposed sanctions on arms exports.

Vladimir Gutenev, first deputy head of the economic policy Committee at the State Duma, has called on Moscow to suspend all shared treaties with the US including the non-proliferation of missile technologies and to adopt cryptocurrency in order to avoid USD-based commerce. He called this an ”asymmetric response to the US”.

Speaking to local news outlet TASS, Gutenev claimed that the US was attempting to block Russian weaponry and civilian goods, and the way around this could be found through conducting transactions in gold-backed cryptocurrencies. He added, ”I’m sure that this will be a very interesting option for China, India, and other states as well.”

While Gutenev did not point to any digital currency in particular, the Royal Mint Gold (RMG) launched by the British Royal Mint earlier this year is the most prominently recognized cryptocurrency with a value linked directly to gold. Backed by USD 1 billion in gold bars stored in the Royal Mint’s vaults, one RMG is right now priced equivalent to one gram of gold.

Russia may have alternative cryptocurrency options, however, as President Vladamir Putin is rumored to be developing a national cryptocurrency in Moscow reportedly being dubbed the cryptoruble, even having apparently met with Vitalik Buterin to discuss the topic. Putin denied any claims of a national cryptocurrency in June this year, however.

Gutenev advocated for the Kremlin to withdraw from US treaties as the government discusses new sanctions against Russia. A discussion in the US of the proposed sanctions was triggered in April after Russia’s involvement in the Syrian conflict, followed by America’s sanctioning of six Russian entities due to accusations of violating its weapons of mass destruction non-proliferation treaty.

 

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trade.io sets Industry Standard for Security Ahead of Upcoming Cryptocurrency Exchange Launch

Token Generation Events have become a favourite haunt for cyber criminals looking to either hijack the event for ransom or divert contributions into their personal wallet. Having identified and analysed the vulnerabilities exploited, trade.io was able to implement stringent security measures to set a new industry standard for the token generation event. The platform was able to confidently fend off numerous attacks during the event, delivering a hitch-free experience for all participants of the event.

Security Measures In Place

“When it comes to security, the trade.io team is firm on not cutting any corners and is committed to having an exchange that clients feel safe using.” reveals trade.io’s Chief Technology Officer, Charles Voltron

The TGE is the threshold to trade.io’s total commitment to maximum security standards, which now includes the addition of a world-class security expert to oversee the implementation of security measures by a highly-trained cybersecurity team.

“Our security approach towards securing the exchange is holistic,” the CTO continues.” Other than protecting the exchange with a multi-layered defence tactics, we are enhancing our employees awareness for cyber events, we protect our business processes and our internal technologies.”

The result of this, is the setting of new security standards, practices, and procedures on the platform leading to multi-layered protection for users through several authentication protocols and secure communications channels. Exchange funds and wallets on the platform will be securely protected via proprietary algorithms, whose capabilities are always under constant risk assessments, architectural and code reviews, and penetration tests by both internal and external security experts.

Round The Clock Monitoring

“We are treating cyber defence as an ongoing process and integrating it in all of the development and business activities” states Ari Proper, trade.io’s Head of Security

trade.io has secured the services of an in-house team of cybersecurity professionals to monitor the platform’s activity round the clock for any anomaly. The company has also implemented Bank-grade security monitoring and detection systems to enable the platform quickly detect, isolate, and block any cyber anomaly on both internal and external systems.

“We are using innovative industry-leading technologies to detect, protect and respond quickly to cyber events. We have a team of experts with vast knowledge and experience in the cybersecurity field as well as deep and strong connections in the industry that allows us to consult, review and test relevancy of cybersecurity technologies continuously.

Pre-registration for trade.io cryptocurrency exchange is on-going, interested users and sign up now for further information at: https://exchange.trade.io

About trade.io
trade.io is providing a next-generation financial ecosystem built on institutional-grade infrastructure on the blockchain. Its decades of experiences in the Fintech sector including trading and investment banking, and technical expertise has enabled the company create the ultimate secure and transparent exchange platform set to revolutionize asset trading and investment banking.
Exchange website: https://exchange.trade.io/?utm_source=bitcoinprbuzz&utm_medium=PR&utm_campaign=security-pr

trade.io website: https://trade.io/

Chat on Telegram: https://t.me/TradeToken

Twitter: https://twitter.com/tradetoken?lang=en

Facebook: https://www.facebook.com/trade.io/?_rdc=2&_rdr

Meet the team: https://www.linkedin.com/company/trade-io/

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Image Courtesy: trade.io

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HSBC and ING Announce Successful Utilization of R3’s Blockchain Platform

HSBC and ING bank have recently reported that they have utilized blockchain technology using R3’s Corda blockchain platform.

The banking conglomerates used the tech to achieve a transaction that oversaw soybeans, shipped from Argentina to Malaysia via Singapore. Additionally, a letter of credit between the two banks was issued directly from the R3 Corda platform.

HSBC and ING commented that the transaction was a success, demonstrating that blockchain technology had been used in a commercial and operational setting.

The trade finance industry is worth around USD 9 trillion. Using any number of conventional monetary means of managing these transactions can take days, with multiple parties included. With blockchain technology on a single platform, the transaction took less than 24 hours to be completed.

Credit letters are one of the most commonly used methods for reducing the risk involved between importers and exporters. These letters help guarantee more than USD 2 trillion worth of transactions annually, and it is a lengthy and time-consuming paper trail that can take between five and ten days to complete.

Vivek Ramachandran, HSBC’s head of growth and innovation stated, “Trade finance transactions have been made simpler, faster, more transparent and more secure. The need for paper reconciliation is removed because all parties are linked to the platform and updates are instantaneous. The quick turnaround could mean unlocking liquidity for businesses.”

The transaction was received well by third parties involved. “Blockchain is a key technology we are exploring and using with our customers and, now, using for ourselves with the completion of this transfer on Corda,” explained Rani Misra, regional treasurer, APAC, Cargill.

Events have led R3, the company behind Corda along with 12 other supportive banks, to further the reach behind this technology, in a hope to expand the network as a utility for the trade finance sector and to waive all paper-based documentation.

 

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Jon Matonis – "Until physical paper cash is outlawed …"

Jon Matonis – “Until physical paper cash is outlawed …”:

Bitcoin Foundation board member Jon Matonis (@JonMatonis) describes the growing trade of bitcoins in face-to-face, in-person transactions.  Excerpts:

“In-person bitcoin transactions allow you to meet interesting new people in your area – and discuss bitcoin.”

“For the casual traders seeking more privacy, I recommend in-person trading through LocalBitcoins.com.”

“LocalBitcoins has steadily added new cities and market depth. ‘We currently have 142 countries and 1700 cities,’ [founder Jeremias Kangas] recently told Bitcoin Magazine, ‘but that most definitely isn’t enough. We want to expand to at least 170,000 cities’”.

“LocalBitcoins offers an escrow facility and a rating system both of which can be extremely valuable for the first-time trader.”

The bitcoin provider sets the price markup and types of payment that will be accepted. […] Given the robustness of trade in some large urban areas, it is entirely possible to earn a living from buying and selling bitcoin using the LocalBitcoins matching platform.”

“In the general classification of commodity, bitcoin’s trade is similar to any other collectible item, such as antique diamonds, celebrity autographs, moon rocks, Buddha figurines, and baseball cards.”

“Ultimately, until physical paper cash is outlawed, bitcoin will still be bought and sold in person just like any other commodity.”

 – http://bit.ly/12RZ7x1
 – http://localbitcoins.com
 – http://bitcointalk.org/index.php?topic=240015.0 (Further discussion on the article)

All News – Daily E-mail Subscription – Twitter: @BitcoinNews

Jon Matonis – "Until physical paper cash is outlawed …"

Jon Matonis – “Until physical paper cash is outlawed …”:

Bitcoin Foundation board member Jon Matonis (@JonMatonis) describes the growing trade of bitcoins in face-to-face, in-person transactions.  Excerpts:

“In-person bitcoin transactions allow you to meet interesting new people in your area – and discuss bitcoin.”

“For the casual traders seeking more privacy, I recommend in-person trading through LocalBitcoins.com.”

“LocalBitcoins has steadily added new cities and market depth. ‘We currently have 142 countries and 1700 cities,’ [founder Jeremias Kangas] recently told Bitcoin Magazine, ‘but that most definitely isn’t enough. We want to expand to at least 170,000 cities’”.

“LocalBitcoins offers an escrow facility and a rating system both of which can be extremely valuable for the first-time trader.”

The bitcoin provider sets the price markup and types of payment that will be accepted. […] Given the robustness of trade in some large urban areas, it is entirely possible to earn a living from buying and selling bitcoin using the LocalBitcoins matching platform.”

“In the general classification of commodity, bitcoin’s trade is similar to any other collectible item, such as antique diamonds, celebrity autographs, moon rocks, Buddha figurines, and baseball cards.”

“Ultimately, until physical paper cash is outlawed, bitcoin will still be bought and sold in person just like any other commodity.”

 – http://bit.ly/12RZ7x1
 – http://localbitcoins.com
 – http://bitcointalk.org/index.php?topic=240015.0 (Further discussion on the article)

All News – Daily E-mail Subscription – Twitter: @BitcoinNews

Jon Matonis – "Until physical paper cash is outlawed …"

Jon Matonis – “Until physical paper cash is outlawed …”:

Bitcoin Foundation board member Jon Matonis (@JonMatonis) describes the growing trade of bitcoins in face-to-face, in-person transactions.  Excerpts:

“In-person bitcoin transactions allow you to meet interesting new people in your area – and discuss bitcoin.”

“For the casual traders seeking more privacy, I recommend in-person trading through LocalBitcoins.com.”

“LocalBitcoins has steadily added new cities and market depth. ‘We currently have 142 countries and 1700 cities,’ [founder Jeremias Kangas] recently told Bitcoin Magazine, ‘but that most definitely isn’t enough. We want to expand to at least 170,000 cities’”.

“LocalBitcoins offers an escrow facility and a rating system both of which can be extremely valuable for the first-time trader.”

The bitcoin provider sets the price markup and types of payment that will be accepted. […] Given the robustness of trade in some large urban areas, it is entirely possible to earn a living from buying and selling bitcoin using the LocalBitcoins matching platform.”

“In the general classification of commodity, bitcoin’s trade is similar to any other collectible item, such as antique diamonds, celebrity autographs, moon rocks, Buddha figurines, and baseball cards.”

“Ultimately, until physical paper cash is outlawed, bitcoin will still be bought and sold in person just like any other commodity.”

 – http://bit.ly/12RZ7x1
 – http://localbitcoins.com
 – http://bitcointalk.org/index.php?topic=240015.0 (Further discussion on the article)

All News – Daily E-mail Subscription – Twitter: @BitcoinNews