Month: July 2017

Through the creation of digital tokens, any asset can be bought, sold, or traded in fractional shares on a secondary market, enabling asset owners to more effectively leverage the value of their previously illiquid holdings.

London, July 31, 2017 – LAToken (Liquid Asset Token, LAT) announces it will issue 1 000 000 000 LATokens at a Public Token Sale on August 22.

​LAToken is a platform that tokenizes assets and makes them tradable. It enables anyone to unlock the value of illiquid assets, including real estate, bank loans, and works of art. An investor needs LATokens to buy asset tokens created on the platform and pay fees for the creation of asset token and transactions.

The platform is based on an existing home equity marketplace, founded by the CEO of LAToken, that has facilitated 12,000 mortgage offers and more than 1,000 deals for 7 banks and 25 investors in the past year. Our advisory board is joined by Anish Mohammed, advisor to Hyperloop Transportation Technologies, David Drake, Chairman of LDJ Capital, and Ismail Malik, Executive Chairman of Blockchain Lab.

“My dream is to make NASDAQ on Blockchain with a wider range of tradable assets and a dramatic reduction of listing costs, settlement time, and transaction costs,” says Valentin Preobrazhenskiy, CEO of LAToken, former portfolio manager at Avega Capital, and creator of a back office for hedge funds.

The LAToken platform gives asset owners a new way to gain liquidity by making fractional asset ownership possible and tradable with minimal transaction costs. Asset owners can quickly get cash by issuing LATokens and selling fractional shares via the LAT marketplace, while keeping the actual asset for their use instead of borrowing money and paying interest or renting.

“The secondary and primary markets of fractional ownership of home equity and mortgages are now on the verge of a breakthrough, thanks to cryptocurrency Blockchain smart contracts,” says David Drake, chair of LDJ Real Estate Fund and member of LAToken’s Advisory Board.

An exciting case of real-world Blockchain implementation

Blockchain technology enables selling fractions of assets by issuing tokens backed by assets. Owners of artwork or houses don’t need to wait for a buyer to purchase their house or piece of art. They don’t need a major auction house, which might take a 20% cut, and they don’t need a real estate agent who takes 2-3%. They also don’t need to wait months or even years to sell their asset. The owner of the asset simply completes application forms via the site, signs token sale and asset sale agreements, and creates a token on the platform. After an audit, the token is listed on the LAT marketplace and the sale date is announced. After the sale, the funds are delivered to the asset owner.

By purchasing liquid asset-backed tokens (LABT) at the LAT marketplace, investors get a small piece of an asset. An independent custodian owns a piece of this asset and delivers cash proceeds from the asset sale to token holders. Token investors know that on a certain date in the future, this custodian will sell this share of the asset back to its primary owner. If the owner doesn’t buy the share back, the custodian will sell the entire asset to the market and distribute the proceeds to the principal owner and the token owners.

Investors get the appreciated asset price on their fraction of the asset.

The LAT platform includes a Wallet for purchasing and managing asset token transactions and a TestNet. Investors can trade and manage asset portfolios via the LAT investment terminal, which provides trading functions, access to credible assets’ data stored on Blockchain, and asset portfolio analysis tools.

LAToken has opened access to the platform wallet that allows tokenizing assets and listing for trading at the LAT marketplace. You can list your assets via latoken.com.

LAT Foundation

tel: +44 7509 764697
email: [email protected]

Disclaimer: This is a sponsored press release and does not necessarily reflect the opinions of any The Merkle employees. This is not investment or trading advice, always do your own independent research.

Over the past few days the bitcoin platform Coinbase has been experiencing some significant withdrawal backlog from customers trying to move their bitcoins in order to obtain bitcoin cash (BCC) after a possible network fork. Since the company stated it would not support the BCC blockchain, and associated token many customers have been scrambling to withdraw. Now the time to withdraw from Coinbase and other exchanges has officially ended. 

Also read: Indian Bitcoin Hotspot Bangalore Sees 50+ Merchants Added This Month

As the Bitcoin Fork Approaches Coinbase Customers Complain About Withdrawal Delays  

It seems it’s been a difficult few days for the bitcoin exchange Coinbase as the company has been processing a lot more withdrawals lately due to the upcoming August 1 fork. Over the past couple of days, customers have been complaining of twelve-hour delays to get their funds off the platform. Coinbase addressed the problem a few times via Twitter stating;

Were experiencing delays due to a large number of bitcoin withdrawals. All funds remain secure. We understand this is frustrating for customers and will continue our efforts to process all these withdrawals as swiftly as possible.

Coinbase and Many Other Bitcoin Exchange Withdrawal Periods Have Ended

Furthermore, the San Francisco based company suffered from a DDoS attack on July 28 and temporarily went offline. When viewing the Coinbase dashboard customers are greeted with a warning about the company not supporting the bitcoin cash currency. The post warns clients that if they wish to access both bitcoin (BTC) and bitcoin cash (BCC) need to withdraw before 10 am PT, July 31, 2017.

Coinbase and its associated exchange GDAX was one of the first companies to explain that it would not support BCC. In fact, the GDAX revealed this information a while ago on July 19 when many other exchanges not supporting BCC have just announced their plans over the past few days. Because Coinbase has such a large customer base, there’s been a lot more complaints directed at their business and customer support.

Following the fork, those who leave funds on exchanges that don’t support bitcoin cash like Coinbase, Bitstamp, and a few others will not be able to access tokens on the other chain after the fork settles. As of now Coinbase and nearly every other exchange have officially shut down deposits and withdrawals for the next 12-36 hours so users who want BCC and hold funds on these specific exchanges will not be able to withdraw or claim those funds.

What do you think about the withdrawal backlog Coinbase has experienced over the past couple of days? Let us know what you think in the comments below.

Images via Shutterstock, Coinbase dashboard, and Twitter. 

Bitcoin.com’s store features a wide range of interesting Bitcoin-related products. Looking for a hardware wallet? We got ‘em. Want a good-looking t-shirt? It’s there. Want to gift a nice Bitcoin coffee mug? Go shopping.

The post Coinbase Customers Suffer from Delays as Withdrawal Period Ends appeared first on Bitcoin News.

On August 1st at 12:20 UTC a new cryptocurrency called Bitcoin Cash will be launched. It’s based upon Bitmain’s UAHF proposal which was initially created as a contingency plan to thwart the efforts of the UASF, which now looks likely to activate without incident.

Whilst the arrival of yet another alt-coin derived from Bitcoin’s source code is not newsworthy in itself, the fact that Bitcoin Cash shares a common transaction history (blockchain) with Bitcoin has raised its profile somewhat.

Bitcoin and Bitcoin Cash? Here’s the step by step of what’s likely about to happen to the bitcoin blockchain.

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A major bitcoin exchange with a strong presence in Japan, Quoine, is being sued for reversing bitcoin-ether trades after it allegedly suffered from a system glitch. Cryptocurrency trades on the platform are supposed to be irreversible, so the plaintiff claims Quoine acted fraudulently and seeks the return of 3,085 bitcoins.

Also read: Indian Bitcoin Exchanges Will Not Support Bitcoin Cash

Quoine Sued for Reversing Trades

One of Asia’s largest bitcoin exchanges, the Singapore-based Quoine, is reportedly being sued over the reversal of bitcoin-ether trades. This lawsuit is the country’s first bitcoin-specific legal dispute, according to The Straits Times on Monday.

The plaintiff is a market marker known as B2C2, who placed sell orders on Quoine’s platform at the rate of 10 bitcoins for one ETH on April 19, when the market price of one ETH was about 0.04 bitcoin. The orders were filled and credited on the same day; B2C2 paid 309.2518 ETH and received 3092.517116 bitcoins. However, the next day Quoine reversed the trades and deducted 3084.78582325 bitcoins from the market maker’s account without authorization, the news outlet detailed.

The trades were “inadvertently” executed at the “abnormal rate of… 10 bitcoins for one ethereum, which was approximately 125 times higher than the actual market price of ethereum on April 19,” the exchange admitted. Quoine attributed the cause to a technical glitch which occurred when it was “reconfiguring passwords for its critical systems to fend off persistent attempts by hackers to break into its systems,” adding that:

The glitch severely disrupted Quoine’s ability to retrieve actual market prices for bitcoin and ethereum.

Was the Reversal Fraudulent?

B2C2 claims Quoine “acted fraudulently” because their trading agreement states that orders are irreversible once filled.

In contrast, the exchange claims that it was entitled to do so because the trades were “mostly trades with huge mark-up over fair global market price.” In addition, it revealed that B2C2 had done other bitcoin and ether-related trades on its platform at prevailing market rates between April 15 and 18. Quoine asserted that B2C2, as a “sophisticated” investor, should have suspected that the “abnormal rate” was a mistake, adding that the market maker was “being opportunistic and seeking to profit from a technical glitch.”

The plaintiff is seeking to recover 3084.78582325 bitcoins from Quoine in Singapore’s High Court; no dollar amount was provided in the lawsuit, according to The Straits Times. The price of one bitcoin has more than doubled by the end of July from its April 19 price of $1,221.

Should Exchanges Reverse Trades?

Other bitcoin exchanges have also had to decide on trade reversals. In December 2015, Gemini was heavily criticized for reversing a trade after a customer placed a very large buy order on its platform in error. The exchange stated that its decision was due to the trade being “empirically disruptive to an orderly market.”

Last month, Coinbase came under fire from its users for not reversing trades during the Ethereum flash crash, which caused the price of ETH to fall from around $320 all the way down to 10 cents on its GDAX platform. One investor placed a multi-million dollar ETH sell order, sinking its price and triggering “approximately 800 stop loss orders and margin funding liquidations,” GDAX explained. However, two days later, the exchange announced that it would honor all executed buy orders as well as credit customers who had margin calls or stop loss orders executed using company funds.

Do you think Quoine should have reversed the trades? Let us know in the comments section below.

Images courtesy of Shutterstock, Quoine, Coinbase, and Bitcoin.com

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The post Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether Trades appeared first on Bitcoin News.

Although August 1 is still hours away, most Bitcoin users are more confident of the community than they were a few weeks ago.

The post Op Ed: Launching an ICO? Follow This Advice from the SEC appeared first on Bitcoin Magazine.

With a few days to go until the end of its ICO, Digital Developers Fund announced the fundraising has successfully secured over $1 million from nearly 600 participants. Digital Developers Fund (DDF) is an investment fund focusing on high growth digital assets such as domain names and crypto currency. The roots of the DDF go … Continue reading Huge behind-the-scenes success for Digital Developers Fund in its fundraising ICO.

The post Huge behind-the-scenes success for Digital Developers Fund in its fundraising ICO. appeared first on NEWSBTC.

Startups are encouraged to develop Blockchain-based solutions for digital problems in the UK with £8 mln fund from the government.

The bitcoin blockchain is expected to fork on Tuesday, but what does that mean for bitcoin users?

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