Month: February 2018

There is nothing worse for cryptocurrency enthusiasts than having one’s Bitcoin balance stolen. If this involves an exchange or online wallet, there’s a chance money will be recovered eventually. In every other case, however, there is no recourse or way to get the money back.

This situation temps a few global insurers to offer protection against cryptocurrency theft. It is another positive development for the overall ecosystem. Whether or not people will effectively buy these new insurance products, remains to be seen.

It is not the first time insurers venture into the world of cryptocurrency. We have seen a few similar efforts in the past few months. However, there is no real “major traction” for these types of insurance products. A few of the world’s biggest insurers will make this bold move regardless. Offering protection against cryptocurrency is a pretty interesting development. These companies task themselves with tackling daunting challenges. How all of that will work in real life, remains a bit unclear, for the time being.

Providing Insurance in the Cryptocurrency Ecosystem

A few companies already actively provide these new insurance products. Names such as XL Caitin and Mitsui Sumitomo Insurance do not have an international ring to them. Other service providers around the world are also looking into this business model. For now, it appears the big focus is on offering such protection for companies. This mainly indicates exchanges and trading providers will benefit from these new solutions. The average consumer, on the other hand, may not see any major effort in this regard for the time being.

Considering how cryptocurrency is largely unregulated, an insurance product can be pretty interesting. Even though it will not apply to consumers, this is a very peculiar development. If this market were to take off in the coming years, things will get very interesting. This news comes on the heels of the massive Coincheck hack which occurred last week. It was another strong reminder of how cryptocurrency exchanges are not immune to hacking whatsoever. It is the price users pay for relying on centralized trading platforms.

This new industry is not without major challenges for insurers either. Providing cryptocurrency insurance comes with many different challenges. Covering the risks for customers they know next to nothing about is one of the biggest challenges. There will be a very steep learning curve for all parties involved. Most of the insurance providers work based on their own knowledge of the cryptocurrency ecosystem. Only time will tell if that is sufficient to protect their future clients.

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January 31, 2018 – Leading token sale advisory firm TokenMarket has supported Coinfirm, a global RegTech enterprise focused on anti-money laundering for Blockchain, to sell $19 million worth of AMLT Tokens.

Combined with its successful Token Sale, Coinfirm have also announced today it has added one of the industry’s most renowned lawyers, legal pioneer Joey Garcia.

Garcia of Gibraltar law firm powerhouse ISOLAS joins an advisory board of the leading regtech company that already includes veterans of the world’s largest banking and software companies. He further has been recognized as one of the 12 best blockchain lawyers in the world by Chambers and Partners for helping shape the regulatory environment.

“We are delighted to be able to count on Joey’s deep knowledge and experience of the blockchain compliance and regulatory landscape. Joey’s advice will be crucial in ensuring we meet our goal of setting the global standard for the industry,” said Pawel Kuskowski, CEO and Founder of Coinfirm.

Garcia explained why he was eager to join the board. “For me, looking at Coinfirm, its  offering and solution, the company brings a very natural professional development to the space, and actually in some circumstances even goes beyond what many financial institutions expect. As we look at legal interpretations being clarified and regulatory standards becoming more firmly set, I can really see the benefit of the Coinfirm structure and that is why I was so keen to support and be involved.”

The successful sale, and new addition of Garcia to the team will allow Coinfirm to continue to build a Global AML & Compliance Standard for the Blockchain industry.

The Token of Compliance

Coinfirm is a regtech solutions provider known for its anti-money laundering (AML) and counter-terrorism financing (CTF) platform. The company’s blockchain AML/CTF compliance platform uses proprietary algorithms and big data analytics to provide structured actionable data that allows for mass adoption of blockchain and streamlines compliance to near automation.

Full-service token sale partners

Over the course of the last year, TokenMarket have established itself as the foremost token sale partner in the crypto space. Based in Gibraltar but with offices in the UK and a dispersed team around the world, the company offer a full advisory service to blockchain businesses, from the tech required to collect funds securely through to market research, strategy and execution, as well as token generation and distribution.

Since its launch, TokenMarket has helped blockchain businesses collect more than $350 million in Bitcoin and Ether. Success stories have included Civic, Storj, and Monaco. The combined market cap of all the projects that TokenMarket has helped launch currently stands at over $3 billion.

For more information about Coinfirm and TokenMarket, visit https://amlt.coinfirm.io  and https://tokenmarket.net.

A controversial social network seeks funding via an ICO to develop its platform for those disaffected by today’s social media monopoly.

This year has already witnessed an unprecedented number of new startups with innovative blockchain solutions to everyday problems, and it is only a month old. One such company, previously known as SportyFi, has rebranded to SportyCo but still offers the same innovative approach to sports and athletes.

The concept is a unique one which facilitates a change how sports and athletes are being financed to achieve athletic success. There is a lofty entry barrier for professional sports in today’s highly competitive world. Emerging athletes face a growing number of issues when it comes to funding their training and participation in global professional and amateur events.

A blockchain based financing platform could be the solution for athletes and investors alike. By disrupting the existing model SportyCo aims to democratize and decentralize sports investment in order to achieve greater athletic success.

Rebranding for platform launch

A rebranding was necessary due to close links with the name SportyFi and a popular music sharing app that dominates the internet search engines. The London based team has decided to kick off with a brand new name to coincide with the imminent launch of its platform in March. The developers are hard at work putting the final touches on the platform while the design team is re-working all of the online materials.

The name SportyFi may appear from time to time but from now on the company is fully rebranded to SportyCo. Over the coming week there will be a number of new and exciting announcements about the platform and new brand.

One of the world’s leading blockchain development companies, Spartan Solutions, has teamed up with SportyCo to provide a raft of exciting new features and services for the platform. The two firms are continuously in contact and cooperation as the platform launch draws near. The combined knowledge of SportyCo’s sports industry acumen and Spartan’s blockchain and technology insights will bring several ideas and concepts to reality for the new platform.

Professional endorsement

A number of high profile soccer stars have endorsed SportyCo and among them is Roberto Carlos who joins the team as Partnership Manager. Carlos is a footballing legend who won the FIFA World Cup with Brazil in 2002. He has since won several more Champions League and La Liga titles with Real Madrid and is an ambassador for the sport. His role will include reaching out to sports organizations, clubs and other sports entities around the globe and bringing them onboard with the SportyCo project.

In addition to world class footballers SportyCo also has ambassadors from other professional sports including basketball, skiing and boxing. With such a strong team of technical experts and sporting legends the project is bound to achieve a big score in the world of sports and athletics.

Find out more here: https://sportyco.io/

The post Rebranded SportyCo Set to Score with Platform Launch appeared first on NewsBTC.

It often does not take much to generate momentum and an upwards price movement in cryptocurrencies. A shill or an announcement on social media can be enough. A facelift or rebrand is also a good way to get traders looking at the project again. RaiBlocks has done just that with an announcement on a new name to resonate with investors.

In a Medium post yesterday the Nano core team announced that as the new brand for RaiBlocks. All altcoins have suffered heavy losses this week as the crypto market shed 20% falling from just under $600 billion to $480 billion before reviving a little to just over $500 billion. Drowning in a sea of mainstream media FUD crypto currencies are in need of a boost and a rebrand can do just that.

New Nano Rising

RaiBlocks works on a ‘block lattice’ or grid configuration called Directed Acyclic Graph instead of a traditional blockchain. This has the effect of producing multiple chains which reduces the transaction times and costs substantially. The team wanted the functionality of their platform to be reflected in its name;

“In November, the team gathered to discuss the future of Raiblocks and develop plans to further the project’s growth. One topic discussed was the name itself (“Is it, ray or rye?,” “Ditch the Blocks!,” “Just call it Rai!”). Feedback from the community suggested that improvements could be made to better resonate with the public and a mainstream audience. Because of this, our team made the decision to rebrand.”

The post went on to explain;

“The Core Team wanted a name that represented the simplicity and speed of the project, and Nano does just that. The new logo uses several nodes, playing on the block-lattice design of the network, that connect to form an “N.” All social media accounts will be updated to reflect the name and logo changes. The new website is nano.org.”

The team continued to reassure XRB holders that their assets would not be affected;

“All funds, wallets, and transactions will still operate as they have been. Addresses will continue to start with xrb_ for the moment. In the future we will introduce nano_ addresses with the rest of the current addresses being consistent.”

Upward movement

Analysis website Coinmarketcap has already changed the XRB page from RaiBlocks to Nano. A positive impact on price has already been noticed and it is up 20% over the past 24 hours. With other altcoins, apart from Lisk, making only small gains XRB is already standing out. It traded this time last week just under $14 and is currently trading at $18.65, an increase of over 33% on the week. The majority of trade volume is in South Korea on the Kucoin exchange which has 40% of the total. At the time of writing $54 million has been traded in the past 24 hours.

The post Nano Makes Moves as Rebranded RaiBlocks appeared first on NewsBTC.

Key Highlights

• Ethereum classic price recovered slightly after trading as low as $25.47 against the US dollar.
• There was a break above a crucial bearish trend line with resistance at $27.40 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair is struggling to gain momentum above the $28.00-28.20 and is currently correcting lower.

Ethereum classic price is slowly recovering against the US Dollar and Bitcoin. ETC/USD needs to break the $28.00-28.20 resistance for further gains in the near term.

Ethereum Classic Price Trend

Recently, we saw a decline in ETC price below the $26.00 level against the US dollar. The price traded as low as $25.47 before it started an upside recovery. There was a break above the 23.6% Fib retracement level of the last decline from the $30.08 high to $25.47 low. The upside move was positive since the price was able to move above the $26.00 level.

There was even a break above a crucial bearish trend line with resistance at $27.40 on the hourly chart of the ETC/USD pair. The pair traded above the 50% Fib retracement level of the last decline from the $30.08 high to $25.47 low. Moreover, there was a break above the $28.00 level, but the pair was not able to gain momentum. The upside move was capped by the 61.8% Fib retracement level of the last decline from the $30.08 high to $25.47 low. It seems like the $28.00-28.20 level is acting as a strong barrier for buyers.

Once there a break above $28.20, the pair could accelerate above $30.00. On the downside, an initial support is around the $27.20 level. However, the most important supports sits around the $25.00 level.

Hourly MACD – The MACD for ETC/USD is now slowly moving back in the bullish zone.

Hourly RSI – The RSI for ETC/USD is currently moving lower towards the 50 level.

Major Support Level – $25.00

Major Resistance Level – $28.20

 

Charts courtesy – Trading View, Kraken

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