Home Blog Page 389

Binance acquires Indian digital asset platform WazirX

0

Those in India will now be able to buy and sell cryptocurrencies with Fiat currencies

Starting 25 November, people in India will be able to buy and sell cryptocurrencies with fiat currencies through the Binance Fiat Gateway. The global cryptocurrency exchange and blockchain ecosystem announced its acquisition of bitcoin exchange WazirX.

In the first quarter of 2020, WazirX’s auto-matching engine will be integrated into the Binance Fiat Gateway platform, allowing users to directly place orders on Binance.com and the Binance iOS or Android app to purchase Tether (USDT) against INR. This integration will allow users to trade any digital asset available on Binance.com with the purchase of USDT from the WazirX digital asset marketplace.

“The acquisition of WazirX is another step forward in achieving the freedom of money,” said CZ (Changpeng Zhao), Binance CEO.

“The next phase of mass adoption for crypto will arise from developing nations around the world,” said Nischal Shetty, WazirX CEO.

The native WazirX token (WRX) is currently available to the community through trade mining and signups and an upcoming token sale is under consideration. About 64,000 users hold WRX.

Binance has also focused on supporting and developing the Indian blockchain system. Earlier this year, the India-based startup Matic Network successfully fundraised via the blockchain on Binance Launchpad and another project, Marlin Protocol, secured a USD$3 million seed round from Binance Labs, the investment arm of Binance.

Binance also licenses its matching engine and wallet technologies to several partner platforms, including Binance Uganda, Binance Jersey, Binance Singapore, and newly launched Binance US, which offer fiat-crypto trading functions across a variety of currency pairs.

Walmart starts tracking products using VeChain

0

Walmart has officially begun tracking products using the VeChainThor blockchain, according to reports on Twitter. Last year, Walmart China announced the use of the VeChainThor blockchain.

Around 5,000,000 blocks have been successfully mined on the VeChainThor cryptocurrency blockchain, which has established partnerships with well-known companies from the food, logistics, pharmaceutical, insurance, automotive or textile sectors.

The potential of VeChain’s technology is being recognised as counterfeit products cause annual sales losses of more than $509 billion. Worldwide, approximately 3.3 percent of all trade goods are exposed as counterfeit products. Recently, the VeChain Foundation was able to enter into a new partnership with the Chinese General Council of Anhui Tea Industry Association to authenticate the authenticity of tea products with the VeChainThor Blockchain.

The VeChainThor blockchain will use the Walmart China Blockchain Traceability Platform in a joint venture with PricewaterhouseCoopers, Inner Mongolia Kerchin and the China Chain-Store & Franchise Association. The first batch of 23 products was tested in 2019. Now 100 more products are to be tracked with VeChain, covering more than 10 different food categories.

From now on the complete supply chain of a product can be tracked. Each product contains a large amount of important information that can be read free of charge using a QR code scanner. It can also be used to trace exactly when the product left which location and which last station the product passed through. There is even a Google Maps map available that shows the place of manufacture and delivery.

By the end of this year, more than 50% of packaged fresh meat and vegetables and 12.5% of all seafood sales recorded on the platform will be tracked. According to a VeChain statement, this will help Wal-Mart to improve the traceability of goods.

StakeCube launches crypto exchange

0

The launch of the exchange together with a robust road map for 2019 makes StakeCube one of the most interesting projects to invest in

StakeCube’s much anticipated crypto exchange was launched on 14th May. The launch makes StakeCube the only platform with the first ever integrated pool and an exchange that stakes customer’s digital assets while they trade. Ever since its inception in June 2018, the team has put in considerable efforts to deliver a state-of-the-art staking pool to a 20,000 plus user base.

StakeCube Exchange has listed eight coins including StakeCube’s native SCC. The other prominent projects listed are PIVX, MMO, ESBC, BITG, RDD, NAV and Dash. Bitcoin is the base pair for the listed tokens. There are plans for SCC to be included as a base pair in the coming days or weeks. The new exchange developed by founder Oleg has a clean and user friendly interface, largely embraced by their customers. Currently, developers involved in building the exchange are gathering feedback from its user base on discord to improve the pool and exchange.

One thing that has worked in favour of this growing platform is team work and its positive reputation as a trustworthy network. With 29 coins listed in its pool, StakeCube has outlived some of its peers by delivering on promises as per their road map. The delivery of the exchange was one of the items included in the roadmap for 2019.

Before the exchange was opened, StakeCube also began offering 3.717% annual interest on Bitcoin deposits in customer wallets—a feature that is unique in the exchange space. No other crypto exchange offers interest to its user base for depositing bitcoin. This feature alone should make the exchange an attractive option for investors who are keen on trading with PoS projects.

StakeCube has many upcoming features planned for its community including an academy for Proof of Stake coins. As per the 2019 road map announced on discord, SC will offer coin creation for businesses this year. Many similar projects and staking pools have offered similar services in the past, however, most of them have failed to take off. The difference with StakeCube is it has a team that has been around since June 2018. The team includes Oleg, Tyolus, Chimaera, Mike, Marco, Daryl, Derek, Motor and Titanium (all discord handle names). The team have been largely accountable and available to its 20k plus user base despite a series of setbacks in the beginning.

 

Thrive to create first “marketing oriented” blockchain

0

Hoping to establish the first “marketing oriented” blockchain in the industry, Thrive is set to give global advertising bigwigs like Google AdSense/AdWords a run for their money.

Thrive, a decentralised platform, is attempting penetrate into the global advertising market by creating a network on which advertisers and content creators can seamlessly integrate digital ads on a peer-to-peer manner, without the interference of intermediaries and third party service providers.

Through the usage of blockchain technology, the Thrive team promises full transparency and data security, which are two advantages which centralised platforms like Google AdSense and Amazon Advertising cannot provide. Often, revenue shares, advertisement margins, and rates are not transparently provided to content creators as accessible data, making it difficult for content creators to plan ahead potential revenues and profits to finance their operations and daily activities.

Blockchain technology’s and its cryptographically encrypted network enables every piece of data to be accessed as public information.

This means that for the first time, both publishers and consumers willing to voluntarily share anonymous data will get monetary rewards. With Thrive, content creators will not experience similar issues they have had on platforms like YouTube, wherein content is unfairly demonetised. Recently, demonetisation of content on major platforms resulted in more than 50 per cent of their revenues were eliminated overnight.

Thrive is targeting a rapidly growing market in digital advertising. The total addressable market of Thrive is nearly $310 billion, and if it can establish itself as a key service provider within the market, it will be able to evolve into a leading advertising marketplace.

Digital advertising spending worldwide—which includes both desktop and laptop computers as well as mobile devices was estimated to be 198.4 billion U.S. dollars in 2016. This figure is forecast to constantly increase during the coming years, reaching a total of 310 billion U.S. dollars by 2020.

The token sale or initial coin offering (ICO) of the Thrive token (THRT) begins on 15 February. 53 per cent of the total supply of THRT (106 Million THRT) will be sold during the token sale. Unsold token will be burned. The initial pricing per THRT will be $0.3, and the dynamic hard cap of the token sale will be set at $30 million.

 

Tron reaches out to ‘global community’ to help send medical supplies to Coronavirus victims

0

Blockchain solutions provider Tron is seeking help from its global community and partners to help those affected by the Coronavirus worldwide. “We are deeply concerned and aware of the extreme shortage of medical supplies in Wuhan, China, hence we are calling all the Tronics around the world to help those affected by sending medical necessities immediately,” said a press note from the company.

These supplies include goggles, face masks, food, water, and various medical supplies, and anything else needed to help them overcome this crisis. The company says they have already received commitments from various community members from Korea, Singapore, North America, and EU, as well as corporations within the Tron ecosystem including BitTorrent, Poloniex, DLive, and WINk, with more to be confirmed.

Tron is now coordinating with some of the largest logistics companies around the world to help deliver and distribute these supplies as soon as possible, to whoever is in need.

 

TruStory shuts down; business model “unsustainable” says Founder

0

A year and a half after raising $3 million from investors, social network platform TruStory is shutting down, announced founder Preethi Kasireddy in a blog post published last week. Kasireddy said the token-based digital debate platform was closing because its business model is “unsustainable”. Kasireddy said investors will be returned their money.

“In order to build a sustainable business, TruStory would need millions of users who can readily purchase tokens (legally) and seamlessly use them on the platform daily. While we believe we can capture a small niche of users, we don’t believe it’s large enough to build a sustainable business,” said Kasireddy in her post.

TruStory allowed users to participate in debates by staking tokens called “TRU”. Users who wrote compelling arguments on the platform earned tokens, while those who “misbehaved,” lost them. The goal, said Kasrireddy, was to crowdsource the best arguments on both sides of any issue.

“Right now the market is not mature enough for the tokenized future we believe in. Launching a token in a regulatory-friendly way is still a nightmare,” said Kasireddy.

Preethi Kasireddy

“In order to distribute and use the token as prolifically as needed, we needed much better infrastructure (e.g. crypto wallets) and more seamless authorization solutions (i.e. transaction signing). Especially for a consumer facing application where speed and convenience are paramount. Unfortunately, the solutions out there today are nowhere close to what we need.”

She said the number of people who know about crypto, let alone who are willing to buy for a reason other than to “pump and dump”, is tiny. “Crypto today is little more than glorified gambling. The idea that you can use crypto for other (very innovative) things is still foreign to most people. In order to build a sustainable business, TruStory would need millions of users who can readily purchase tokens (legally) and seamlessly use them on the platform daily. While we believe we can capture a small niche of users, we don’t believe it’s large enough to build a sustainable business.”

Investors in TruStory include True Ventures, Pantera Capital and Coinbase Ventures.