Day: April 5, 2018

In the world of cryptocurrency, there are quite a few projects which will find themselves in legal trouble sooner or later. This is especially true when such projects use the name of a person, brand, or company in an effort to gain more legitimacy. For Alibabacoin, it seems the end is near.

Alibabacoin is in the hot Seat

When Alibabacoin was first introduced, people immediately knew things would implode at some point. It seems now is that point, as Alibaba has filed a trademark lawsuit against the Dubai-based firm that created it. It’s an unsurprising turn of events, as Alibabacoin has nothing to do with the e-commerce giant. Nor is the Dubai firm allowed to use the term Alibaba, as it is already trademarked.

To put all of this into perspective, Alibabacoin was created some time ago. It is also known as the ABBC Foundation and is seemingly trying to make an impact in the world of cryptocurrency. Whether or not it chose a controversial name on purpose or simply thought it would not constitute trademark infringement remains to be seen. However, it is evident the company will have a lot of explaining to do in this regard.

According to the lawsuit, the firm or its legal team will have the opportunity to explain themselves in front of a US district court on April 11. Depending on how that pans out, the Dubai company may face additional charges for other infringements.

Additionally, the lawsuit seeks to prevent further infringements as well as obtain compensatory, punitive, and triple damages for alleged violations of the law. Exact dollar amounts are unknown for the time being, but this lawsuit is probably the nail in the coffin for Alibabacoin. 

Indeed, Alibabacoin is seemingly intent on capitalizing on the success of Alibaba, despite not having any ties to the company. Moreover, it has used Alibaba’s trademarks in “countless instances” to sell its native cryptocurrency. Although it is not the first time we’ve seen currencies like these be created, it is one of the few times when the trademark’s owner has decided to take matters to court.

Considering that this currency was making people believe Alibaba had a stake in cryptocurrencies, it is only normal that the confusion was becoming a bit too problematic. Alibaba has stated that it wants nothing to do with cryptocurrency, and it is evident not much will change in that regard. At the same time, Alibabacoin’s team had plenty of time to rebrand or make it clear they were not associated with the e-commerce giant. For some reason, they decided not to do so.

Ever the Bitcoin bull, Tom Lee usually has an optimistic perspective for Bitcoin investors. He was bullish when the market was green and the recent downtrend hasn’t dampened his positivity too much. The Fundstrat cofounder believes that the upcoming Tax Day should cause much of the current bleeding in the markets to stop.

Crypto Traders and Investors Selling to Cover Tax Bills?

Lee thinks that that much of the continued selling pressure in the cryptocurrency markets is being caused by traders and investors who need to access funds to pay their looming tax bills. The deadline is April 15 for filling income-taxes. According to Bloomberg, Lee stated in a note earlier on Thursday that crypto traders and investors currently owe around $25 billion in capital-gains levies. The note read:

“This is a massive outflow from crypto to dollars… Historical estimates are each $1 of USD outflow is $20-$25 impact on crypto market value.”

Image Courtesy of Shutterstock

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BTC’s price will be able to find its “footing” only after tax day, as a large selloff of crypto to fiat will take place by crypto-holding tax payers, Tom Lee predicts. #NEWS

U.S. SEC chairman Jay Clayton addressed ICOs and enforcement actions taken against them during a talk at Princeton University.

Friends, we are pleased to inform you that we have entered into legal cooperation with StartEngine. StartEngine is an investment platform that occupies a leading position in the US market. This is the world’s first decentralized platform for crowdfunding, located in Santa Monica, California. LevelNet is an innovative cybersecurity platform that provides a fundamentally new approach to cybersecurity – opens up great prospects for both companies, thanks to this agreement.

LevelNet provides users with a simple, affordable and effective solution to provide cybersecurity in real time, using an integrated database of multiple platforms and antivirus software. In order to increase the effectiveness of protection, the platform integrates existing solutions in the field of cybersecurity. We have joined forces with StartEngine and strive to provide the best opportunities for our community.

Now the LevelNet platform has gained access to investors from the US through StartEngine, which has the necessary licenses for brokerage activities. This will allow the company to sell LVL tokens as a security for US residents. LevelNet passed compliance with the LVL tokens in accordance with the requirements of US law and removed all obstacles regarding regulatory issues.

US law requires compliance with certain rules relating to investors from the US, who purchase a LVL token on the LevelNet platform. If US investors buy tokens for speculative purposes, they will be automatically redirected to the StartEngine platform, through which the sale of LVL tokens is realized. You can buy platform tokens in two ways: purchase with a bank card and through bank transfer.

Since the end of 2017, when the partnership agreement between LevelNet and StartEngine was signed, the companies have resolved all aspects related to legal aspects and it is possible for investors to purchase tokens through the LevelNet platform, which is presented on our website: levelnet.co.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Humans are resistant to change. Despite centuries of evolution, we still struggle to wean ourselves off the status quo. Yet one could argue that change is woven into the very fabric of humanity and, as such, we should naturally embrace it. Well, if that’s the case, no one’s told the British. After all, the wider global conversation is turning to the burning question of whether cryptocurrency will bring an end to fiat currency, and they’re still bemoaning the possible loss of 1p and 2p coins.

Depending on your location, the move to a cashless society can either feel very real or little more than a pipe dream. You can pay for a Starbucks with your smartphone in the US and Europe, and use biometrics in parts of Asia. Yet venture away from world centers, and there are plenty of one-horse towns with limited internet, no banks, and nowhere to stick your plastic.

In such places, the move to a cashless society seems centuries away, much less a move to crypto. And yet, in other developing countries, with political uncertainty and galloping inflation, despite its volatility, crypto may present a more viable option as a store of value.

What’s the Difference between Fiat Currency and Cryptocurrency?

Popularly known as “money,” fiat currency is legal currency that a government has declared “legal tender.” This differs from cryptocurrency not only in the tangible versus the digital, but in the obvious fact that cryptocurrency is not legally backed by any governments – yet.

Fiat currency traditionally takes the form of coins and bills, although in many cases, it’s actually digitized, if you consider bank transfers and electronic payments. The supply of fiat currency is controlled by the government, whereas the supply of crypto is controlled by an algorithm.

And while you can pay your taxes with your fiat currency, you have to pay taxes on your cryptocurrency. So, the differences are small but substantial, although the two share many traits, such as transfer of value, supply and demand, trade, and other economic concepts.

Will Cryptocurrency Replace Fiat Currency?

“One major pro of cryptocurrency is that it is another leap forward toward a cashless society, a trend that continues to gain momentum,” says Clayton Moore, CEO of NetCents, an online payment processing platform. “As the desire for freedom from cash continues, cryptocurrency and blockchain will continue to update outdated financial systems. We are seeing this now as financial institutions are adopting crypto and blockchain, all in advance of the demise of fiat.”

Cryptocurrency has many advantages over fiat. One of the largest is being able to use it relatively cheaply, internationally, and practically simultaneously. “Have you ever tried to send USD from your US bank account to an RMB bank account in China on a Saturday in less than 24 hours? It’s simply impossible,” remarks Fred Montagnon, CEO and co-founder of Legolas Exchange.

However, it pays to remember that fiat currencies can take digital forms as well. While we might (and that’s a big hypothetical, considering the British) see cold, hard cash as being on its way out, it’s unlikely that governments will rescind control over their currencies to a decentralized system.

“Countries and their regulators will likely not abandon their control on their own fiat currency for a cryptocurrency [over] which they have no power,” Montagnon affirms. “Actually, we’ll likely see government-backed cryptos, where states take the best of crypto and the blockchain technology to issue a modern version of fiat money.”

It was never really possible to imagine a world in which the UK would give up the pound for the euro. It’s even harder to consider the demise of its legal tender in favor of digital gold, and other countries following suit. But then again, centuries of evolution just may provide us with the coping mechanisms needed to say goodbye to fiat currency as we know it.

Bitcoin Press Release: Inspired by the concept of cryptocurrency, renowned independent Swiss watch brand Chronoswiss joined forces with Tech Bureau Europe to create five luxurious crypto-design watches. These extravagant models have been manufactured in a limited edition of only 101 pieces each. They are available exclusively via the cryptocurrency exchange platform Zaif.

April 05, 2018, Japan – Working closely with the Japanese company Tech Bureau, independent and family-run Swiss watch brand Chronoswiss has created an exclusive series of crypto-design watches based on the Flying Regulator Open Gear. These limited-edition collector’s pieces boast a high-end aesthetic. Chronoswiss is a renowned, long-established Swiss watch manufacturer steeped in tradition and famed for its high-quality standards, its authenticity and its strongly held values.

The following crypto-design watches are soon available for purchase, each in a limited edition of 101 pieces:

• Bitcoin – the currency

• NEM – the harvest

• Ethereum – the contract

• Zaif – the exchange
• COMSA – the token

These luxury timepieces have been manufactured according to highest Swiss watchmaking standards. Already seen as unrivalled in terms of aesthetics and quality, they are therefore a must for every crypto enthusiast. Their distinguishing characteristics include:

• Regulator movement with off-centre hours and seconds displays
• Skeletonized Open Gear technology that makes the regulator mechanism the central design element
• Innovative and technically integrated 3-D dial, individually designed for each edition: Logo of the respective Cryptocurrency elaborately skeletonized in the small seconds and in the logo print on the dial.
• Individual limitation number painted by hand.
• Skeletonized, red gold-plated rotor with Cryptocurrency logo which can be admired through the sapphire glass back.
• Solid stainless steel case with ultra-hard and scratch-resistant diamond-like carbon coating (5.000 Vickers).
• Exclusively manufactured by hand in the Atelier Lucerne.

Oliver Ebstein, CEO, Chronoswiss commented;

“Chronoswiss was founded during the quartz crisis and spitefully developed purely mechanical watches, ever since connecting tradition and vision. Therefore, it appears natural to be curious and open minded about the future. Cryptocurrencies and Blockchain technology are a dazzling aspect of our future that Chronoswiss follows and supports. With its’ homage to cryptocurrencies, Chronoswiss links the roots of traditional watchmaking with the digital revolution of new world currencies.”

Sold Exclusively via the Cryptocurrency Exchange Zaif

The limited-edition watches can be purchased by anyone registered on Zaif. The corresponding auctions will take place within specified time frames betweenApril 13th to 27th, with the watches listed in the same way as tokens. Customers must place their bids as buy orders. The 101 highest bids per model will give the respective bidders legal ownership of one crypto-design watch. It is just as easy as buying cryptocurrency.

To learn more visit the Website : https://bitcoin.chronoswiss.com/

Sign up to the Zarif – https://lp.zaif.jp/CB_Series/index_e.html
Visit Chronoswiss – http://www.chronoswiss.com/en/home.html#chronoswiss

Media Contact
Contact Name: Aoki
Contact Email: [email protected]

ChronoSwiss is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

About Bitcoin PR Buzz -Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

The post PR: Chronoswiss Release Exclusive, Limited-edition, Swiss-made Cryptocurrency Watches appeared first on BitcoinNews.com.

What’s the reason behind the worst stock market Q2 start since Great Depression? #FOLLOW_UP

Odyssey, a Singapore based blockchain company focused on the future of the decentralized sharing economy, has recently completed integration into the oBIke Global Bike Sharing Platform. This successfully completes the last major milestone of Phase 1 in Odyssey’s roadmap, which focused on MVP (minimum viable product) realization.

This followed the successful token sale earlier this year, with 10 billion tokens issued and 60% of them in circulation.

Age of Oversupply

Odyssey predicts that in the future sharing will be the norm, with private ownership becoming a luxury. With declining transaction costs, consumers are purchasing more, bringing us into an age of oversupply. Sharing has grown exponentially because of this, but the sharing economy is still far from optimum. With Odysssey however, users will soon be able to share according to their budget, as well as how much they truly need something.

Founded in January 2017, oBike completed one of the largest fundraising rounds in Southeast Asia, raising $45 million USD for their station-less bike sharing platform to provide a hassle free, sustainable, and economic mode of transportation in busy cities.

Critical First Step

This is the first step in their mission of creating a universal credit/ trust-based protocol with blockchain technical solutions to not only augment marketplace efficiency, but also bring the sharing economy market to the next level.

The platform will now use Odyssey’s digital assets mobile payment solution, Odssey Wallet, making OCN the fire digital asset integrated into the sharing economy. This integration will also enhance efficiency of international payment of over 10 million oBike users through the wallet and usage of the OCN token.

With users in over 17 countries now using the token, which acts as both a social credit and reward based protocol, the Odyssey Protocol is not stopping here and is continuing to explore further integration opportunities and partnerships.

Partnership With Tron As Well

For example, the decentralized sharing platform already has a partnership with TRON, looking to create a decentralized internet and usher in the next web 4.0 blockchain Dapp platform. TRON aims to achieve this through constructing a worldwide content entertainment system alongside distributed storage technology.

The partnership with TRON will enable cross-ecosystem collaboration, allowing for users to not only experience a decentralized sharing experience, but a decentralized internet as well.

While the wallet does better link users across the 17 countries, the blockchain technology that powers the wallet also lowers trust and increases trust in the sharing economy, since the wallet lowers cost and improves confirmation times.

Later down the road, Odyssey will see Phase II (ecosystem establishment) and Phase III will commence from late 2019 into 2021.

About Odyssey

Odyssey (OCN) is initiated by Odyssey Protocol Foundation, registered in Singapore.

ODYSSEY’s mission is to build the next-generation decentralized sharing economy & Peer to Peer Ecosystem. ODYSSEY aims to reduce overall operating cost, increase marketplace efficiency and boost ROI of product & service providers in the Global sharing economy & peer to peer ecosystem.

To learn more visit the Website : http://www.ocoins.cc/home/index.php

Read the White Paper – http://www.ocoins.cc/home/index.php#whitepaper

Chat with us on Telegram: https://t.me/OdysseyOfficial

Connect on Twitter – https://twitter.com/OdysseyOCN

Meet the Team – http://www.ocoins.cc/home/index.php#tech-team

See our Github – https://github.com/OdysseyProtocol

The post Decentralized Sharing Platform ODyssey Partners With OBIKE appeared first on BitcoinNews.com.

Swiss National Bank Governing Board member Andrea Maechler sees value in blockchain, but argues central banks should stay out of consumer payments.

It was only a matter of time until things took another turn in the world of cryptocurrency. We have seen so many connections already between blockchain technology and Pokemon-like projects. Indeed, we now have a project called CryptoPokemons. It’s not necessarily the best idea, considering that Pokemon itself is a major brand and registered trademark.

CryptoPokemons is a Thing now

Given the success of CryptoKitties and similar projects over the past few months, it has become evident that there will be a lot more of these platforms in the future. We have already seen tanks, dancing pandas, and cars use the same business model. To the trained eye, there is a clear connection to Pokemon.

Keeping all of that in mind, it is not entirely surprising to see a project such as CryptoPokemons come to market. This blockchain-based game works incredibly similarly to CryptoKitties and other projects, with a strong focus on one-of-a-kind Pokemon. The objective is to collect them all, although there is no real catching involved. Rest assured there will be some interest in this project, even though it remains to be seen how successful it will be.

In using Ethereum smart contracts, the project uses the same technology as all other similar projects which came before it. The main reason for using this technology is that it allows for automating most of the creation process, as well as the trading of Pokemon and the exchange of value.

With every Pokemon being unique, it is good to see the team focus on how the real Pokemon game works. Every creature is connected to its own contract, which players can purchase with Ethereum. If someone wants to obtain a Pokemon owned by someone else, they can pay more for its contract. This approach has been utilized by similar projects in the past.

As one would expect, there is a gamification aspect to all this as well. More specifically, there are four tiers of levels for each Pokemon. As more transactions occur involving an individual Pokemon, its actual value goes up. As such, early buyers can turn a creature worth 0.01 ETH into 1 ETH and more over time. It is evident this business model will attract a lot of attention from potential investors.

The big question is how successful this venture can be. Importantly, the Pokemon brand is trademarked, and using it without the parent company’s approval will be problematic in the long run. Since the project also uses the original Pokemon artwork, they may find themselves in legal trouble. If so, all CryptoPokemon investors may find themselves in the hot seat as well.