Day: April 18, 2018

Huobi, one of the largest cryptocurrency exchanges in China, is set to expand its business outside of Asia. The company, who is headquartered in Singapore and has recently opened a subsidiary in South Korea, has announced a plan to set up an office in London.

Huobi Exchange Plans to Open in London

Huobi, a cryptocurrency exchange originally from Beijing and now headquartered in Singapore amid the Chinese ban on the industry, is setting up a plan to expand its operations in Europe. Chern Chung, Senior Business Development Manager for Europe at Huobi, said the company “wants to have a presence” in the city because “our statistics show that London is the most active trading scene across all of Europe”, according to reports.

From London, Huobi will be able to build and launch products and services for the European customer base. Additionally, the exchange wants to build strategic relationships with the global banks headquartered in the city, the world’s top financial center, despite the ongoing uncertainty Brexit is still having on the ecosystem in London.

By moving to London, the exchange operator will be exposing its business to a very respectable jurisdiction when it comes to regulatory oversight. The United Kingdom has one the most up-to-date global regulations on cryptocurrency and is not as lax as some other territories, such as Gibraltar or Malta.

Peng Hu, Vice President of the Huobi Group, is determined to open the office in London despite the advantages offered by other jurisdictions.

“Not Malta, not Switzerland. Absolutely London, more precisely Britain, is the entry point for the European market for us”.

The move “shows Huobi’s commitment and determination to go mainstream”, and that “we are not afraid of regulation nor are we escaping regulation”, Chung added.

Huobi was forced to leave the Beijing office in Q4 2017 amid the Chinese ban on cryptocurrency trading. The company moved to Singapore and has been quickly designing its global expansion plans, including offices in South Korea, the United States, and Japan.

Founded in 2013, Huobi has grown to become one of the largest cryptocurrency exchanges in the world. The cryptocurrency exchange deals about $1.1 billion of daily trading volume, approximately half of direct competitor Binance.

Following the opening of the London office, Huobi is expected to launch operations in San Francisco. The South Korean subsidiary was announced on March 30, and opened with 100 cryptocurrencies listed. Huobi Korea is also prepared for a potential hacking scenario as the exchange has created an investor protection fund.

Image from Shutterstock

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The Philippines SEC has issued a warning to the public to be cautious on 14 cryptocurrency investment schemes in the country.

Dentacoin (DCN), the cryptocurrency for the global dental industry, Is now listed on Changelly. You can buy DCN with a credit/debit card and easily exchange it to over 100 other altcoins directly on our website!

Disclosure: This is a Sponsored Article

About Changelly

Changelly is a popular cryptocurrency exchange providing instant and seamless exchange of over 100 altcoins at the best market rate. It also offers the ability to easily purchase any of those currencies using a bank card. Since 2015, Changelly has attracted over 2 million registered users from around the world with its intuitive interface, the best exchange rates, secure transactions and low fees. Currently, the platform processes more than 15K transactions weekly with a monthly turnover of around 60K BTC. The company partners with Mycelium, Jaxx, Coinmarketcap, Coinpayments, Uquid debit card, Coinomi, and other prominent companies.

Buying Dentacoin has never been easier

Thanks to the customizable payment widget powered by Changelly, now you can use your credit/debit card to purchase Dentacoin (DCN) directly on our website. You can also exchange DCN to all the other 100 other altcoins.

“Having Dentacoin listed on Changelly opens up new horizons in front of us. The instant exchange of Dentacoin to hundred other altcoins is an important feature accessible directly through the Changelly’s widget on our website. Another great opportunity is that people can now buy DCN with their bank card using just one platform! This will inevitably help us further spread the use of Dentacoin, as providing user-friendly options for storing and trading DCN is essential for our project’s success,” shares Jeremias Grenzebach, Co-Founder and Core Developer at Dentacoin Foundation.

The currency Dentacoin (DCN) is already listed on international exchange platforms and accepted as a means of payment at more than 20 clinics in 13 countries, as well as by dental labs and suppliers.   

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Additional info:  
DentaVox Market Research Platform: https://dentavox.dentacoin.com/  
Official Website of Dentacoin Foundation: https://dentacoin.com/  
Other Dentacoin Tools: Trusted Reviews https://reviews.dentacoin.com/,
Dentacare (Mobile App) 

https://play.google.com/store/apps/details?id=com.dentacoin.dentacare

One of South Korea’s largest cryptocurrency exchanges, Bithumb, has published its first audit report, detailing its financial performance as well as crypto reserves worth approximately $6 billion kept in 12 cryptocurrencies.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

$6 Billion Worth of Coins

South Korea’s second largest cryptocurrency exchange Bithumb recently released its first public audit report.

The exchange has 220 employees and 15 shareholders, the report details. It generated 333.42 billion won (~US$312 million) in operating revenue in 2017, a significant increase compared to the previous year of 4.32 billion won (~$4.1 million). Its net profit was 534.90 billion won (~$501 million) in 2017, up sharply from 2.51 billion won (~$2.4 million) in the previous year.

The Korea Times elaborated:

The company said its crypto reserves at the end of 2017 were 6.3584 trillion won ($5.9186 billion), including 416 billion won-worth coins of its own. The figure was up nearly 220 times more than the previous year.

The report breaks down the exchange’s coin reserves. Those deposited by clients are 49,559 BTC; 583,004 ETH; 54,383 DASH; 492,897 LTC; 5,560,189 ETC; 597,627,574 XRP; 156,956 BCH; 195,728 XMR; 94,261 ZEC; 9,761,686 QTUM; 993,839 BTG; and 63,087,428 EOS. They are worth approximately 5.94 trillion won (~$5.57 billion), the report shows.

In addition, the exchange also keeps its own coins. “Seven percent of the deposited cryptocurrencies (worth 415.9 billion won) were Bithumb’s, while clients deposited the rest,” the news outlet emphasized.

Bithumb’s own holdings consist of 3,228 BTC; 24,514 BCH; 65,421 ETH; 7,847 DASH; 100,437 LTC; 387,993 ETC; 40,834,963 XRP; 10,083 XMR; 2,473 ZEC; 324,029 QTUM; 10,590 BTG; and 553,181 EOS, according to the report. The total value adds up to 415,941 million won (~$390 million).

Bithumb Actively Expanding

Prior to the launch of the Kakao-backed cryptocurrency exchange Upbit, Bithumb has long been South Korea’s largest cryptocurrency exchange. Today, its 24-hour trading volume is $468 million, far less than Upbit’s trading volume of $1.715 billion during the same time period, according to Coinmarketcap.

Bithumb has actively been growing its business this year. News.Bitcoin.com recently reported on the exchange launching a social media-based P2P payment system as well as its partnership with Wincube to sell 12,500 kinds of mobile vouchers from 600 brands through gift certificates.

This follows Bithumb’s announcement that it will supply kiosks to restaurants, cafes, and other eateries, to facilitate crypto payments as well as a partnership with a travel site with over 5,000 accommodation facilities. The company is also launching a service to allow crypto payments at approximately 8,000 physical stores through a partnership with Korea Pay’s Service.

What do you think of Bithumb’s crypto holdings? Let us know in the comments section below.

Images courtesy of Shutterstock and Bithumb.

Need to calculate your bitcoin holdings? Check our tools section.

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Bitcoin Press Release: THEKEY’s Identity Verification (IDV) technology in the survival certification part of the pension claim has allowed the Forest Industry Administration of Heilongjiang Province (shortened to the Administration) to be much more efficient and accurate in releasing annual retirement pensions.

12th April 2018, BEIJING, CHINA: THEKEY’s tokens (TKY – tradable on KuCoin exchange under the TKY/ETH pair and additionally on Ibank also using the TKY/ETH pair. The token will be utilised in the second generation of DMI technology known as BDMI (Blockchain-based Dynamic Multidimensional Identification). The Testnet for BDMI is scheduled be released in the middle of this year, and the Mainnet is planned be released at the end of this year. There will be 3 components in the BDMI ecosystem: participants (validators, service providers and individual users), smart contracts and TKY.

TKY is the only method to settle smart contracts signed between the participants in THEKEY’s BDMI Ecosystem. Once the Validator, Service Provider and the Individual User all sign-off on the transaction via the smart contract, the parties will use TKY Tokens to settle the contract according to the agreed price and payment sharing plan. Services that currently utilise THEKEY’s DMI technology will gradually migrate to BDMI technology after the release of the Mainnet and after intensive pilot cities testing. One such service would be the one in use at the

Administration. As such, THEKEY has been laying an extensive ecosystem which will result in real world cryptocurrencies use cases. We will further explore below.

The Current Situation at the Administration

The Administration covers a total business area of 10.098 million hectares,  22% of Heilongjiang Province. It promotes the coordinated development of the forest zone’s economy and society as well as maintains the national forest’s resources to benefit the country and mankind. This is done through conservation, cultivation, and respectful usage of the forest resources.

The Zone  is an important ecological asset for the Administration as it is a natural barrier for Northeast Asia’s terrestrial ecosystem as well as Northeast China’s great granary. The Administration is responsible for the arduous task of conserving and constructing the Zone’s area.

There are nearly 500 thousand insured people in the Zone who are mainly distributed in 9 cities of Heilongjiang region. The retirees in the Zone mainly live in the land of Longjiang, however there are many scattered throughout the large forest area.

Up until now, the process of obtaining a survival certification was very time-consuming and miserable experience for retirees located in the remote areas of the Zone or outside the province. The retirees, of which at least 30 thousand are over 65 years old, were required to make a difficult journey to the ID center. Once there, they then queued in very long lines at the on-site certification centers. This made the certification process tedious and time consuming which resulted in many complaints from distressed retirees.

THEKEY’s products in Use at the Administration

Since August 2016, the local social security bureau has employed THEKEY’s IDV technology in their“Social Security 123 App of Administration” to conduct certification via facial recognition. This has allowed the bureau to release 8 billion annual retirement pensions in a timely manner without undue stress on the elderly.

THEKEY’s IDV technology compares the pensioner’s face with that on their ID card. This can be done through a mobile phone, allowing retirees to apply for their survival certification from the comfort of their homes. The rest of the certification process (which requires cross examination of data from Civil Affairs, criminal records and the fatality database) can be completed without the retiree’s presence. This new IDV technology has greatly increased the certification process’ efficiency and improved the retirees’ standard of life.

Survival Certification of The Elderly in the Social 123 App

Based on the success of THEKEY’s product, THEKEY and the Administration are planning to expand it to online social insurance payments, medical online purchases and family mutual aid, etc. This partnership will allow THEKEY to explore the application of medical treatment based on personal credit, payment by installments of healthcare security and direct compensation of commercial insurance.

Visit the Website: https://www.thekey.vip
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Join on Facebook: https://www.facebook.com/TheKey-1439094662870680/
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GitHub: https://github.com/thekeygithub

Media Contact
Name: Jit
Location:Singapore
Email: [email protected]

THEKEY 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: THEKEY: Announces their Platform for Identity Verification and Pension Claims – Laying the Foundations for Real World Cryptocurrencies Use Cases appeared first on BitcoinNews.com.

Indian private bank ICICI Bank has on-boarded more than 250 corporate firms to undertake trade finance transactions on blockchain network.

South Korean cryptocurrency exchanges aim to self-regulate this industry. That decision has been known for a while now, yet the official rules were unveiled last night. This approach will help provide a more legitimate image for the different cryptocurrencies gaining traction in the region. Additionally, it will also foster a vibrant blockchain ecosystem.

South Korea and Self-Regulation

Several weeks ago, it became apparent South Korean exchanges wanted more regulation. Rather than leaving the matter in the hands of the government, an industry-wide standard is created by these companies. The main purpose is to boost transparency and counter money laundering attempts. Over the years, the illegal actions associated with blockchain and cryptocurrency have been rather numerous.

Self-regulation is rather uncommon in the world of cryptocurrency. In most cases, government officials and regulators determine the rules of play. During yesterday’s press conference, 14 domestic trading platforms outlined their own set of rules. This group of platforms includes the likes of Bithumb, Upbit, OKCoin, among others. They are all part of the Korea Blockchain Association.

For now, the association will determine if these exchanges meet the new rules. Besides the 14 members, a total of nine other companies are also looking to adhere to these new guidelines. Since none of the rules are legally binding, it remains to be determined how all of this pans out exactly.  Under the new guidelines, exchanges should not see much of a change compared to how they handle things as of right now

The Changes for Exchanges to Adhere to

Regulation can come in many different ways, but it is evident South Korea plans to do things the traditional way. Exchanges need to separate the management of customer’s coins and their own holdings accordingly. Additionally, reporting of abnormal transactions is of the utmost importance. Similar guidelines exist in the financial sector as of right now.

Further rules include enhanced client protection, holding a minimum equity of 2 million Won, and publishing regular audit and finance reports. None of these guidelines are unrealistic to achieve. They will have a positive impact on the industry as a whole, as they bring a lot more legitimacy to the table.

The first order of business is closing any potential loopholes for companies to exploit. While these rules aren’t perfect, they are a positive first step in the right direction. Self-inspection reports will need to be submitted by all members on a regular basis. Bringing more transparency to this particular industry can only be considered to be a good thing overall.

Image from Shutterstock

The post South Korean Cryptocurrency Exchanges Unveil Self-Regulation Guidelines appeared first on NewsBTC.

There are many stablecoins, but only one that has one investor who busted a central bank and another who used to help run one. Also, Google and Bain.

Cambridge Analytica reportedly planned to launch its own cryptocurrency before the controversy over its misuse of facebook data.

Bitcoin Press Release: This week decentralized Video Sharing Platform surpassed the landmark total of million platform users. The site has seen a sharp rise in new users with the last several hundred thousand users joining in just the last few months

April 11th, 2018, Tallinn, Estonia – Decentralized Video Sharing Platform Viuly has seen a rapid increase in its platform users over the last few months and this week achieved its most recent target of 1 million users. Most of the new additions have occurred recently, with around 700,000 users joining in the last three months alone.

The popular blockchain-based video sharing platform is well known for not charging its video uploaders any fees for displaying their content. In addition to the free service, Viuly also incentivizes its users through a participation program in which active users are rewarded with the VIU cryptocurrency.

In addition to the 1 million users, Viuly has seen the number of channels on its platform more than double in the last couple of months. The total number has risen from 30,000 to over 70,000 and with that has come to an increase in video content, with over 260,000 videos, up from 90,000 videos only 3 months ago. Perhaps more impressive is the platform’s number of daily visitors, which has now reached 250,000.

Viulys decentralized video sharing platform generates revenue without charging video uploaders fees for managing their channels. The platform allows all users, channel holders, and video uploaders to earn the platform’s native token, and tradable cryptocurrency, the VIU token, for viewing or uploading videos on the platform. The VIU tokens can be traded against bitcoin or used by users to buy various advertising packages.

The Viuly platform prides itself on its belief that users should not only be able to use video sharing for free, much like a social media platform but also be rewarded for their continued support and participation. This is why some of the funds from each advertising pack go directly to the Viuly community and will continue to do so.

About Viuly

Viuly’s mission is to disrupt the multi-billion dollar industry of online video-sharing with its blockchain-based solution. Through decentralization and transparency, it aims to create a fair and open video network operating on an equitable model of revenue sharing. VIU tokens are the native currency powering the Viuly video platform. They are used to transfer value between advertisers, content creators, and users.

Viuly will be a full-fledged platform for users and content creators to share and watch videos, while immediately earning rewards for their interactions. This revolutionary ecosystem will enable a fair, unrestricted environment to share, watch, and upload any content.

Viuly’s revolutionary blockchain solution has already led to a firm backing of EUR 150,000 from blockchain investing firm Krypton Capital. Together with Krypton Capital’s “smart money” philosophy, Viuly aims to establish strong ecosystems of related companies to grow values and revenues together.

Learn more on Viuly’s website – https://viuly.com
Check out the Viuly Alpha video platform at – https://viuly.io
Trade VIU with BTC at – https://bit-z.com
Trade VIU on EtherDelta – https://etherdelta.com/#VIU-ETH
Read the Viuly Whitepaper – https://viuly.com/Viuly_Whitepaper.pdf
Chat with Viuly on Telegram – https://t.me/viulyofficial
Find Viuly on Facebook – https://www.facebook.com/viuly/
Follow Viuly on Twitter – https://twitter.com/ViulyOfficial
Join Viuly on bitcointalk – https://bitcointalk.org/index.php?topic=2353646
Catch up with Viuly on Medium – https://medium.com/@Viuly
Follow Viuly’s progress on Coinmarketcap – https://coinmarketcap.com/currencies/viuly/

Media Contact

Contact Name: Ruslan Popa
Contact: [email protected]
Location: Tallinn, Estonia

Official Viuly Video: https://viuly.io/video/viuly-video-presentation-692

Viuly 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. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. 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 blockchain tech start-ups for over 5 years. Get your own professional Bitcoin Press Release. Click here for more information about Bitcoin PR

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