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  Major League Baseball Collectibles Are Coming to Ethereum
Posted by: admin - Yesterday, 07:34 AM - Forum: News From Cryptocurrency Market - No Replies

Major League Baseball (MLB) is turning to blockchain to expand its fanbase.
MLB announced Friday that it has partnered with Lucid Sight, a blockchain startup based in Los Angeles, to launch a dApp game on ethereum late this summer to allow baseball fans to interact with their favorite moments during the games, Yahoo Finance reported.
The game, MLB Crypto Baseball, will work similarly to CryptoKitties, which had a direct influence on the baseball league's new game, according to MLB executive vice president of gaming and new business ventures Kenny Gersh.
"We were already talking to Lucid Sight around the time that CryptoKitties first came out," Gersh said. "And then CryptoKitties sort of validated it a little bit more."
In order to play this game, users must purchase ether and transfer it to MetaMask, one of the most popular ethereum browser wallets. After that, they can trade digital avatars tied to specific moments in recent games while possibly earning rewards and stickers.
MLB has seen attendance at games drop this season and it hopes that this game can attract a broader audience.
Gersh explained:

Quote:"That is 100 [percent] one of the strategic goals of this initiative. Collecting items related to your team, engaging with your team in a new way. For me, say the Red Sox win the division in a couple months, I want to buy something that symbolizes that. These will be event-based things—those moments in sports that happen that you want to remember and cherish, and have a sense that you were there, even if only digitally."
Lucid Sight co-founder Octavio Herrera said in an interview with Yahoo Finance that they are hoping the game can eventually reaching out a broader range of users, not just the tech savvy people.
"The game will roll out in stages. So yes, for version one you will need ether, you will need MetaMask, it will be a little bit difficult to get into. But I do think people will open up Coinbase accounts, buy some ether, and transfer it to MetaMask, in order to collect these things they'll enjoy so much," he said.
This is not the first time pro sports are experimenting crypto and blockchain technology. Sacramento Kings, a men's basketball team in the NBA, said in June that it will mine ethers for charity purposes.

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  Trump's New Task Force to Take On Crypto Crime
Posted by: admin - 07-13-2018, 07:22 PM - Forum: News From Cryptocurrency Market - No Replies

US President Donald Trump has issued an executive order authorizing a new task force to develop guidance for crypto fraud investigations.
The executive order, Task Force on Market Integrity and Consumer Fraud, will include protection for consumers in the emerging crypto market alongside traditional crimes such as money-laundering and investment schemes.
Led by the Justice Department, the new task force will also include representatives from the Securities and Exchange Commission (SEC), the Federal Trade Commission and the Consumer Financial Protection Bureau. The directive cited “cyber fraud” and “digital currency fraud” as targets of the group’s work.
This move is believed to be the first sign that Washington is increasing its jurisdiction over digital currencies. The Justice Department, the SEC and the Commodity Futures Trading Commission are all using vast resources on fraud and scam investigations tied to Bitcoin and other tokens so it’s no surprise that Trump’s Government will increase its focus on the developing crypto space.
Earlier this year, the government indicated that it was working toward a "comprehensive" strategy around cryptocurrencies, with a focus on market fraud. In February, the US Department of Justice formed a cybersecurity task force that also includes cryptocurrencies as part of its mandate.
The US government’s view on Bitcoin is that is it not legal tender, FinCen, a bureau of the Treasury Department, said in 2013 that "virtual currency does not have legal tender status in any jurisdiction", however, the policy on exchanges depends on the state.
The SEC, which views digital currency as a security, said earlier this year it is looking to apply securities laws to everything from cryptocurrency exchanges to digital asset storage companies known as wallets.
Treasury Secretary Steven Mnuchin has been vocal about Bitcoin's ability to aid criminals, telling CNBC in Davos in January his main focus on cryptocurrencies is "to make sure that they're not used for illicit activities."

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  Is it legal to profit from an insurance claim?
Posted by: JesseVoss - 07-12-2018, 09:37 AM - Forum: Insurances - No Replies

Hi,

If the insurance company pays me $100,000 to replace my roof of clay tile, but I replace it with asphalt shingles for $25,000, is that legal? Can I keep the money? If my whole claim is for $200,000...Can I get the work done for $50,000 and keep the rest? What if I don't get the work done at all? Is that legal? What are the ramifications? My company does not withold the recoverable depreciation, so I have got it all upfront. Just trying to find out the law.

Please help. 

I didn't find the right solution from the Internet. 

References:- 
https://www.insurancejournal.com/forums/...php?t=1017
3D Product animation studio

Thanks!

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  Opera Browser Introduces a Built-in Cryptocurrency Wallet
Posted by: admin - 07-12-2018, 07:00 AM - Forum: News From Cryptocurrency Market - No Replies

The latest version of the Opera for Android, currently available in a private beta, introduces an easy-to-use and built-in cryptocurrency wallet functionality to the browser. This means that a significant part of Opera’s 322 million user base across all platforms would no longer need to install separate extensions to handle supported crypto payments on mobile devices.
Also Read: London School of Economics Launches “Cryptocurrency Investment and Disruption” Course
Opera for Android With Crypto Wallet
[Image: Crypto-Wallet__Main-300x169.png]The developers, which last year implemented an anti-mining security feature, explain that Opera with Crypto Wallet for Android’s user interface is designed to be simpler than most current crypto wallets. And Opera relies on the Android operating system’s secure system lock to sign transactions from the Crypto Wallet, so users don’t need to create new PIN codes or passwords to start using the wallet.
“Having a Crypto Wallet in the browser brings the cash experience to the world of online payments,” said Charles Hamel, Product Lead of Opera Crypto. “Paying with the Crypto Wallet is like sending digital cash straight from your phone, and we’ve just made it easier. This opens up new possibilities for merchants and content creators alike.”
Accelerating the Transition to Actual Payments
[Image: Crypto-Wallet__Product-Screenshots-300x169.png]The beta version of the app only currently supports ETH, ERC-20 tokens and ERC-721 collectibles (which it automatically presents to the user). However, the developers plan to add support for additional cryptocurrencies in the future after just testing the waters now and seeing how the community reacts. Opera’s Crypto Wallet also comes with built-in support for the Ethereum Web3 API, which the Norwegian browser maker hopes will incentivize the creation of decentralized apps (dapps).
“We believe the web of today will be the interface to the decentralized web of tomorrow,” added Hamel.“By becoming the first major browser to open up to Web 3.0, we would like to contribute to making the internet of the future more accessible. Our hope is that this will accelerate the transition of cryptocurrencies from speculation and investment to being used for actual payments and transactions in our users’ daily lives.”

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  This German Bank Offers Corporate Bank Accounts to EU Crypto Firms
Posted by: admin - 07-10-2018, 05:13 AM - Forum: News From Cryptocurrency Market - No Replies

Blockchain and cryptocurrency firms long used to being shunned by traditional financial institutions in the European Union can now breathe a sigh of relief.
Berlin, Germany-based solarisBank has received the licenses necessary to offer business banking accounts to Blockchain and cryptocurrency firms operating in the European Economic Area. Companies in the space can consequently open a ‘Blockchain Company Account’ using fiat currencies.
Filling a Gap in the Market
The new service follows the unveiling of the solarisBank Blockchain Factory which is aimed at providing a regulatory and technological bridge between the blockchain technology sector and the banking field.
Another solarisBank product known as Automated Trust Account, which is basically an automated cryptocurrency marketplace escrow account, has also been introduced. The business account will ease the buying and selling of fiat currencies on global cryptocurrency exchanges or marketplaces.
Already, solarisBank has partnered with vPE Bank to allow trading of cryptocurrencies at the institutional level. More services are also in the pipeline and this includes offering digital banking as well as debit cards to blockchain firms.
More Value for Clients
According to the chief technological officer of solarisBank, Peter Grosskopf, this will enhance security and convenience, especially when linked with wallets and marketplaces.
“The next logical step is to connect our digital banking and debit cards solution with exchanges and wallets, so partners can create their own crypto retail banking experience. These accounts significantly reduce the risk to their end-customers and make the trading and possession of cryptocurrencies not only more convenient but also more secure,” wrote Grosskopf in a blog post.
Per the chief executive officer of the financial institution which describes itself as a ‘tech firm with a banking license’, Roland Folz, a high demand for a licensed partner who will provide the regulatory and technological link to traditional banking exists in the field of cryptocurrency and blockchain technology. Besides vPE, the German financial institution which is a little over two years old is in the process of implementing more partnerships this year.
Traditional Finance Meets the Future
Though revolutionary solarisBank is not the first financial institution in Europe to offer corporate accounts to blockchain and cryptocurrency firms. Liechtenstein’s Bank Frick has for instance conducted business with companies in the crypto sector for some time now. And last month Hypothekarbank Lenzburg became Switzerland’s first bank to offer corporate accounts to firms in the crypto space.
Despite Switzerland’s more progressive stance towards cryptocurrencies and blockchain technology, startups in the field still found it an uphill task opening business accounts with the traditional financial institutions. This had resulted in some of the blockchain and crypto firms turning to banks in Liechtenstein.
When announcing the move Hypothekarbank Lenzburg, however, revealed that due to the fact that conducting due diligence for crypto and blockchain firms involves additional costs relative to regular corporate accounts, the business banking accounts for crypto and blockchain companies would be more expensive.

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  Dutch ETF Giant Makes Crypto Play Despite Regulator’s Disapproval
Posted by: admin - 07-06-2018, 09:45 PM - Forum: News From Cryptocurrency Market - No Replies

Flow Traders NV, the largest European exchange-traded fund (ETF) trader has entered the crypto market, despite public warnings from the Dutch Authority for the Financial Markets (AFM) urging consumers to stay away from cryptocurrency trading.
Based in Amsterdam, the Dutch speed trader has its eyes on the first ever exchange-traded notes (ETN) based on bitcoin and ether. According to Swedish ETN issuer XBT Provider, the volume of its cryptocurrency notes being traded by Flow Traders has “dramatically increased” over the past few months.
In what could potentially be hugely significant for the future of institutional investment in crypto, Bloomberg reports that Flow Traders has become the first trading firm in the world to publicly acknowledge that it is actively trading crypto ETNs on regulated exchanges. This possibly serves as a vote of confidence in the future of the crypto market.
More notably, giving institutional investors the ability to trade crypto ETNs or funds in the cheap and straightforward manner of conventional fiat trades could positively affect the popularity of digital assets trading.
Speaking about the potential growth of the crypto market, Co-CEO, Flow Traders NV, Dennis Dijkstra told Bloomberg:

Quote:“People underestimate crypto. It’s big, and it is to be regulated very soon. The market participants are much more professional than people think. Institutional investors are interested — we know they are because we get requests.”
Loud Disapproval From AFM
[Image: lightspeed-ventures-cryptocurrency-fund-...street.jpg]
On its part, the Dutch Authority for the Financial Market has remained strongly opposed to crypto, releasing a statement where it described it as “prone to abuse” and “not an asset class.” Regulatory antipathy notwithstanding, there is no actual legal basis for the AFM to stop Flow Traders or any other firm from trading regulated crypto instruments on regulated exchanges, so for the time being the push by conventional investors into crypto remains unabated.
CCN reported in March that Coinbase was granted a UK E-Money License and a bank account with Barclays. A month later in April, it was also reported that Goldman Sachs is in the process of setting up a cryptocurrency trading desk. Driven by disappointing trading volumes in conventional markets and the dynamism of the crypto market, more institutional investors are staking a claim in the burgeoning crypto scene.
As with many other regulators around the world, AFM’s primary grouse with crypto centers around the perceived risk of aiding criminals and funding terrorism. International bodies like the G20 have called for a clearly defined set of global Anti-Money Laundering (AML) and Know Your Customer (KYC) standards to replace the current situation in which different regulators such as the United States’ SEC and Japan’s FSA use substantially different standards despite the easy cross-border movement of crypto.

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  Microsoft Launches Enterprise Blockchain Partnership in Taiwan
Posted by: admin - 07-04-2018, 09:19 AM - Forum: News From Cryptocurrency Market - No Replies

Microsoft Taiwan has entered a partnership with Digital China and Hot Cool in the hope that the three companies can use blockchain technology to improve the financial, e-commerce, entertainment, and other industries.
The three-party blockchain alliance unveiled the initiative at a conference on June 28 at the Le Méridien Hotel in Taipei City. Sun Jikang, the general manager of Microsoft Taiwan, explained that he believes Microsoft Azure can improve the computing speed and security of Digital China’s digital blockchain services. For those unaware, Azure is a cloud computing service offered by Microsoft, which allows users to build, test, deploy, and manage applications and services using the firm’s global network of data centers.
Jikang stated, according to a rough translation:

Quote:“Taiwan has first-class engineering and technical talents, and their innovative thinking cannot be underestimated. At the same time, it carries a solid manufacturing and R&D foundation, plus Excellent geographical location, with the superior conditions for the development of blockchain application, I believe that Microsoft’s tooling in the strategic layout of the blockchain, and citing the global partner resources, is bound to be the vision of the industrial application of the blockchain.”
Digital China was Indirectly Born from Lenovo
[Image: Taipei-Taiwan.jpg]Taipei, Taiwan
Sun Yutao, the founder of Digital China, has been nicknamed as the “creator of the Goldman Sachs in the blockchain domain.” However, the company was actually born from the Legend Group, which in 2001 became Lenovo. Yutao has been actively researching blockchain since 2014. He believes blockchain needs to be combined with the Internet of Things (IoT), biometrics and artificial intelligence (AI) in order to thrive. He sees this cooperation as a chance for blockchain business opportunities to increase in the Taiwanese market.
Wu Jiefu, Hot Cool’s General Manager, also joined the conference, suggesting this partnership is the best model for future blockchain technology solutions. His company is a cloud management service provider (MSP), acting as a technical intermediary for corporate and public cloud providers. Hot Cool has been committed to helping users access computing services as easily as water or electricity. With Digital China’s blockchain technology, Microsoft Azure’s cloud services, and Hot Cool’s MSP, Jiefu believes a blueprint has been born.
The collaboration will combine Digital China’s Digital DADA, Microsoft Azure Blockchain Workbench, a blockchain cloud technology platform, and Hot Cool’s MSP. Azure Blockchain Workbench gives blockchain developers a pre-built network and infrastructure, which supports Azure’s blockchain network with Azure Active Directory, Key Vault, and SQL Database. Yutao believes the Workbench can minimize the development time of the blockchain infrastructure in China.
Taiwanese Venture Capital Talks of the ‘New Internet’
Hu Day, the executive director of a blockchain venture capital company named Kyber Capital in Taiwan, thinks the blockchain revolution needs to start with the financial services. He wants to create a sustainable business value, address the return to investors, and solve practical problems first, before creating a new internet.
Not many details have been released regarding the specifics of this partnership yet. This was the second partnership Microsoft announced in June, the first being with Ernst & Young — together they will launch a blockchain content rights platform. Although Bill Gates has accused Bitcoin back in March of causing a few “deaths” along the way, his corporation seems to be diving straight into the technology behind it.

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  VeChain Thor Blockchain Launches, Token Swap to Take Place Mid-July
Posted by: admin - 07-02-2018, 11:21 PM - Forum: News From Cryptocurrency Market - No Replies

VeChain has officially launched its main network and the first block has been mined successfully.
VeChain Mainnet Launches
VeChain Thor is a blockchain platform aimed at driving enterprise businesses to use blockchain solutions.
The main network launch was preceded by deploying the first authority master node. VeChain utilizes a Proof-of-Authority consensus algorithm, in which approved validators mine blocks to produce faster transaction speeds compared to other blockchains. Although critics have expressed concerns of centralization, VeChain believes that this mechanism would be optimal for businesses by providing them with a better-performing network.
VeChain is also a dual token system consisting of VeChain Token (VET) and VeThor Token (THOR). Network users are rewarded with the latter when they hold the former, which is also the case with NEO & GAS. The VeChain Token can be used to deploy applications on the platform where as VeThor can be used to pay for applications and other transactions over the network. VeChain claims that this economic model is better suited for enterprises than the one in other blockchains, such as Ethereum and Bitcoin, where higher usage drives the cost of the utility token and subsequently the cost of deploying and operations in the protocol.
In an official blog post earlier this year, the foundation announced it’s “grand aspirations to make financial services sector one of our main focuses on our development plan”. They also announced their partnership with a property mortgage loan provider Fanghuwang.com, a subsidiary of Beijing Baisheng Technology Co., Ltd. They also reported partnerships with BMW, Groupe Renault, and DNV GL.
Token Swap
Until now, VeChain has existed in the form of an ERC-20 token on the Ethereum blockchain. In an announcement detailing the roadmap moving forward, the foundation stated that they would engage in negotiations with exchanges to perform the token swap to become an independent network. The roadmap also detailed plans to launch a mobile wallet and ledger integration.
Bithumb, Korean based exchange which listed VET in April, has already announced its intention to support the token swap. As CCN reported earlier Bithumb, South Korea’s largest cryptocurrency exchange has announced that they were victims of a hack that stole nearly $30 million worth of funds. They stated that they would offer full compensation to customers who lost their funds. As of June 30, they were reported to have recovered nearly half of the assets stolen.
VET is currently the 17th largest cryptocurrency with a market cap of about $1.4 billion as of writing. The token, which peaked at $8.51 in January, is currently trading at about $2.65.

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  Bithumb Recovers $14 Million in Hacked Cryptos, Details Compensation Plans
Posted by: admin - 06-29-2018, 09:45 AM - Forum: News From Cryptocurrency Market - No Replies

Hacked South Korean cryptocurrency exchange Bithumb, which was recently hacked for roughly $31.5 million worth of cryptocurrencies, recently claimed it managed to retrieve about $14 million, and detailed a compensation plan for its users.
As CryptoGlobe covered, the exchange revealed last week that it was going to compensate investors, and that it was working to recover the hacked funds. Per a recent support announcement, the cryptocurrency exchange reduced the damages to 19 billion won (about $17 million), meaning $14 million were recovered.
According to the cryptocurrency exchange, the funds were retrieved thanks to the “ongoing participation, support, and cooperation of the cryptocurrency exchanges and cryptocurrencies foundations across the world.”
It further touted that the damages weren’t more severe thanks to its quick response, as Bithumb quickly moved most cryptocurrencies from its hot wallets to cold storage. Its recent announcement details that 11 cryptocurrencies were stolen, with bitcoin accounting for the majority of losses, with 2,016 BTC (worth about $12 million) being stolen.
[Image: damages.png__1827x1311_q85_crop_subsampl...pscale.jpg]
The hackers also managed to take 2,219 Ethereum, 692 Bitcoin Cash, and 5.2 million XRP, along with various other cryptocurrencies like Golem, OmiseGo, aelf, and more. In its update, Bithumb noted users shouldn’t deposit funds in the platform until “the whole process of deposit service is reformation is complete” and an announcement is published.
The hacked exchange added a few details regarding its plan to compensate investors. It had in the past revealed that it has about 500 million KRW ($450 million) in its coffers, and now noted it’s setting up a “compensation airdrop event.”
The event will see every Bithumb user receive a coupon that’ll seemingly allow them to trade for free for a specific period of time. Those who were affected by the hack and apply to be compensated will receive an airdrop “for holding cryptocurrencies.”
Details on said airdrop are still scarce, although the announcement seems to imply users will benefit from a 10 percent annual appreciation rate “over the period of the event.” Per Bithumb’s announcement, the cryptocurrency that’ll be airdrop still hasn’t been decided.

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  Facebook Can’t Keep Up the Fight Against Crypto: Non-ICO Ads Allowed Again
Posted by: admin - 06-27-2018, 08:42 AM - Forum: News From Cryptocurrency Market - No Replies

Realizing that there is growing interest in cryptocurrencies and that the ad revenue from crypto-related businesses is potentially huge, Facebook announced on Tuesday (June 26th) that it has decided to relax the ban it introduced on 30 January 2018.
At the end of January 2018, Facebook updated its ads policy to disallow ads that "promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency." It said it was doing so because of its belief that "misleading" or "deceptive" ads had no place on Facebook. It acknowledged at the time that this complete ban on all crypto-related ads was perhaps a bit too drastic a measure:

Quote:"This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve."
Well, on Tuesday, via another blog post by Rob Leathern, Facebook's Product Management Director, Facebook said that it had updated its ads policy again to "allow ads that promote cryptocurrency and related content from pre-approved advertisers" whilst still prohibiting "ads that promote binary options and initial coin offerings." 
Any business wishing to advertise crypto-related products and services must now prove that they are eligible by filling out a form called "Cryptocurrency Products and Services Onboarding Request" as well as providing proof of ownership of the domain(s) associated with this application. Here are two of the more interesting questions that advertisers now need to answer:
  • "Do you currently hold any required licenses or regulatory certification?"
  • "Is your company traded in any public stock exchanges?"
For example, in the case of crypto exchanges in United States, how many exchanges are currently able to claim that they have SEC approval?
Facebook's partial reversal of its crypto ads ban seems like a clear sign of admission that the crypto industry is getting much too big to ignore. Therefore, it would be not too surprising if Facebook's closest rival in the advertising business, Google, shortly decided to follow suit by at least partially reversing its own ban on crypto ads (which it introduced on 14 March 2018).

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