Day: May 24, 2018

• HOOXI campaign, backed by the Korean government and endorsed by Korean superstars, ventures into blockchain
• Anticipated HOOXI mobile application to be launched later this year; a solution to reward individuals contributing to Greenhouse Gas (GHG) reduction
• Globally first to incentivize individuals contributing to GHG reduction using blockchain technology

Singapore, May 24, 2018 — W Green Pay (WGP), the blockchain from HOOXI, Korea’s government-backed Greenhouse Gas (GHG) reduction campaign, is taking a different tack at encouraging individuals to reduce GHG. While GHG reduction initiatives have been around, HOOXI is the first to directly reward individuals for reducing GHG. HOOXI is now venturing into adopting blockchain technology to help enable the reward system and facilitate the on-going reward distribution to individuals.

W-Foundation, an international non-profit organization established in 2012 and a designated donation organization entitled by the Ministry of Strategy and Finance of Korea, is the philanthropic foundation behind the HOOXI campaign. Using the anticipated HOOXI mobile application, individuals can perform GHG reduction missions to collect mission points, which can be exchanged for WGPs.

HOOXI application will track and aggregate individuals’ GHG reduction data, based on which W-Foundation will be allocated National Emission Permits (NEPs) – carbon emission units traded in the Korean market. Through HOOXI campaign, financial incentives of NEP-based carbon trading will no longer remain as the sole domain of corporations and institutions and will be open to individuals.

To contribute to GHG reduction and collect WGPs, individuals can easily set up user accounts on the HOOXI application. As application users, individuals can select among many simple predefined missions such as taking the public transport, reducing electricity usage or purchasing identified eco-products. HOOXI application monitors the status of selected missions and tallies the user’s earned points for subsequent exchange for WGPs.

WGPs can be used on online retail stores partnering W-Foundation, such as Lotte Homeshopping. The utility of the WGPs extends beyond online shopping – WGPs will be introduced to a credit card payback system with major commercial banks in Korea. Credit card users will be able to earn WGPs by using the selected credit card at WGP-partnered businesses. For the first time, individuals will be directly incentivized and rewarded for adjusting their daily routine to reduce GHG emissions.

Statista estimates that by 2020, 70 percent of the global population will be smartphone users. With smartphones becoming more accessible to individuals and the increased use of social media among global smartphone users, the HOOXI application’s value proposition as a global tool for GHG reduction and environmental conservation is significant and compelling.

“By first targeting individuals in the Korean market where people are social media savvy and familiar with the HOOXI campaign, we will be able to work on the features of HOOXI application for broader global usage and look for ways to motivate diverse groups of people to make changes that reduce greenhouse gases,” explains Youree Lee, CEO of W-Foundation. “As the HOOXI application is rolled out globally, we as individuals will have the opportunity to become real stakeholders in making this a better world. Together as one through HOOXI, each of us can collectively make an outsized impact on the outcome of our future, as relevant and tangible as big corporations and institutions.”

The private sale for WGP tokens is ongoing until 25th May while the public will be able to purchase WGP tokens from 26th June to 31st July through their official website.

About W Green Pay (WGP)

W Green Pay is issued to reward general public’s contribution to reducing GHG (Greenhouse Gas) emissions under Korea’s Emissions Trading Scheme market. W Green Pay will be the reward method of HOOXI mobile application for its users’ GHG reduction efforts.

About W-Foundation

W-Foundation is an international non-profit organization that promotes environmental sustainability. W-Foundation supports the Korean government’s goal to significantly reduce GHG emission. W-Foundation runs nature conservation projects and relief works for climate refugees. W-Foundation cooperates with worldwide governments, organizations, and corporates in areas of research, field investigation, immediate relief, and education.

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.

An international marketing agency based in Parnu, Estonia has released a series of educational podcasts for crypto and blockchain enthusiasts, of which their latest podcast has been downloaded over four thousand times in the last 24 hours.

Savii Digital, a digital marketing agency focused on cryptocurrencies, blockchain technology and ICO promotion, has been producing a crypto and blockchain themed library of podcasts for anyone who wants to educate themselves on cryptocurrencies and blockchain technology.

Crypto and Blockchain Talk is the name of their totally free and entertaining podcast series that has been on the market only for two months, with nine episodes in total. Still, this engaging podcast series has gained bright exposure and positive feedback within this time, and the downloads are a reflection of the popularity of these topics .

The host of the show, Aviva Õunap, an experienced marketing guru, and Chief Marketing Officer of Savii Digital Marketing Agency, has been involved in the crypto and blockchain space for years, stating, “We hope to educate as many people as possible on these topics, helping them understand cryptocurrencies and the underlying blockchain technology. By giving people the chance to become educated, for free, on these topics, we are also giving people the power to make the right choices without feeling lost, or worse, getting conned. We want to people to regognise legitimate ICOs, plus understand all topics realted to crypto and blockchain technology.”

“So far, on Crypto and Blockchain Talk, we have covered the topics of why you should, or should not, invest in cryptocurrency, smart contracts, investing in ICOs, banking on the blockchain, and GDPR (General Data Protection Regulation) – which blockchain technology is ideal for and goes into enforcement on the 25th of May, 2018.“

Savii Digital are also about to start a new podcast series about noteworthy ICOs called ICO INSIGHT which are fresh and insightful interviews with carefully vetted ICOs, giving a full overview of their roadmap, team and more.

Aviva added “I am so honoured to work with my very professional, international team on producing these podcasts, talking about the topics that are rising in importance on the world stage, and have an educational purpose at the same time.“

Crypto and Blockchain Talk have new episodes weekly, and they are available in 15 different outputs including major mobile apps like Google Play Podcasts, Spotify, Apple Podcasts, Stitcher, Tunein, Soundcloud, Youtube, Pocket Casts and many more. The podcast has its own website,

http://cryptoandblockchaintalk.com/

For more information on Savii Digital, please visit www.saviidigital.com

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.

The Game Stars gaming platform is a new project in the cryptocurrency market. Due to the wide prospects and high speed of development it raised a great interest among the crypto community. The proof is the successful completion of the pre-sale — all the tokens were sold out in a short time. Currently, the 1st round of Tokensale goes on. Very favorable conditions for investment are offered. Before May 27 you can buy GST tokens with a 30% bonus — it will automatically be credited to your account.

Game Stars is preparing a revolution in the eSports market. Participation in the project is beneficial for all registered users. The project team has developed an effective growth strategy for GST tokens. Gamers, ad-managers and other participants need tokens to use the platform solutions.

The growth in the value of coins will occur due to several reasons:

1. GST token is an integral part of the gaming platform, which solves the key problems of the eSports market. Possession of tokens is beneficial for gamers, sponsors, team managers, etc.
2. Due to limited emission, tokens will not be able to meet demand of cryptocommunity. Increased demand for tokens will lead to an increase in their value.
3. After the Token sale is completed, GST will appear on partner exchanges. Token holders will be able to sell tokens at a higher price (in comparison with the initial).
4. 14.285 registered professionals will be enough to create a deficit of tokens on the platform. New users will be able to buy tokens on exchanges only.

Buying GST during the Token sale is really beneficial, because soon  their price will start growing rapidly. All transactions on the Game Stars platform are carried out in GST, so the tokens will always be in demand among the users of the platform. The Game Stars project offers a number of effective solutions for e-market participants:

•        Smart contracts and personal tokens are issued for each player of the platform. Cyber-athletes receive funding through the CICO procedure, which involves selling personal tokens.
•        The ability to organize tournaments on the platform is available to all registered users.
•        Analytical data on cybersportsmen will be available to sponsors, who  can choose prospective players, provide them with support and gain a percentage of their profit afterwards.
•        Advertisers can promote brands and products in cooperation with players, teams or by sponsoring tournaments. Game Stars team is growing together with the project. Recently Daniel Laufenberg joined the project as an advisor. Daniel has a great experience in software development in such companies like Google and Cisco.  He currently works as a senior development engineer in Exadel and responsible for all stages of the development life cycle of products for AT&T, Samsung, Bank of America and others.

The first round of Token sale will end on May 27. Take your time to buy GST tokens with a 30% bonus. Detailed information about the project is available on the official website and Facebook, Telegram, Telegram chat accounts. Subscribe and keep abreast of the latest news!

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.

Anybody who has been following the cryptocurrency markets for a while knows that trading bots are a big influence on the wild price swings that we see.

In the past, trading bots were utilized by Wall Street firms in order to buy and sell commodities with speed and precision.

That was all well and good for large, rich companies but it meant that the average trader was left at a huge disadvantage.

Well, now AIphacat’s AI powered robots are changing the game and leveling the playing field for all cryptocurrency investors, no matter what size their portfolio is.

Imagine if you could have predicted that Bitcoin would jump from under $12,000 on December 6th, 2017, to over $18,000 in the space of just 48 hours, or you had known that it would drop back down to $12,000 just a few weeks later.

How much money would you be able to make if you actually knew where the top (or the bottom) of a market was?

That will soon be possible: Alphacat is set to become the world’s first robot adviser marketplace that will be focused solely on cryptocurrencies.

Their platform will consist of robo-advisors that utilize both artificial intelligence (AI) and ‘big data’ to predict the future price of specific cryptocurrencies.

The term ‘big data’ refers to extremely large datasets that can be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Alphacat AI powered robots use big data to calculate the likelihood that a particular market will increase, and to date, its price prediction for Bitcoin has reached an accuracy of 63%.  There is no other prediction tool on the market at present with this level of precision.

But this is just the start; as time goes by and the AI robots learn, they will be able to make increasingly accurate predictions.

And in addition to Bitcoin, price predictions for Ethereum, NEO, and EOS will be coming out later this year.

After that, the moon is the limit; as a community-driven project, Alphacat will let its users decide which cryptocurrencies they will develop prediction modules for as well as allow 3rd party developers to publish and develop their own tools on the platform.

This will all be driven by user demand to create an ever evolving market place for ‘crypto power tools’. In giving people a say in what projects they should create prediction modules for, its users become invested members of the community.

This attitude really embodies everything good about cryptocurrencies; rather than an expensive, centralized system that only the super rich can afford, Alphacat makes investing in cryptocurrencies easy and accessible for everyone regardless of their background or experience.

These guys are definitely worth keeping an eye on…

Media Contact

Twitter: https://twitter.com/Alphacat_io

Facebook: https://www.facebook.com/Alphacat.io

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Website：www.alphacat.io  

Email：[email protected]

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.

London, United Kingdom – May 24, 2018 – After the recent completion of its AMLT token sale, Coinfirm has on-boarded the first AMLT Network Member: TokenMarket. The AMLT Network was created to provide evidence for all actors in the crypto economy and help determine their further participation in the global financial system by illustrating their risk rating and in effect increasing the transparency and safety of the ecosystem.

This aligns with TokenMarkets vision for the future of the token economy as the AMLT network will enable the ability to detect then report fraudulent actors and actions related to crypto addresses, including phishing scams, counterfeit transactions and ransomware attacks. The service makes it easy to ensure token sales have fair global reach and buyers honest without need to resort to hard country blocks or other excessive measurements.

“TokenMarket and Coinfirm are long term partners. We both share the same values and vision for a sustainable, secure future of the cryptocurrency space. This natural progression will help improve the transparency and safety while creating a system that allows global economic participants to provide data on both good and bad actors in the economy. Now a user who has been a victim of ransomware has a system to turn to for example. AMLT and TokenMarket working together will further mitigate the risks of fraud and, most importantly increase security for all economic participants”– says Grant Blaisdell, co-founder of Coinfirm.

This system will help to address a number of issues such as financial inclusion and a fair analysis of honest market players deemed “high risk” due to region specifics. Further, AMLT Network Members will have access to high quality research, training and updates regarding AML as well as discounts to Coinfirm’s AML/KYC Risk Reports when using AMLT Token.

TokenMarket is the first major Network Member onbarded as part of the AMLT Network, with many others lined up for integration before the end of the year. Coinfirm will grow the AMLT Network by onboarding members from sectors such as; wallets, exchanges, payments platform providers, e-commerce as well as  traditional financial institutions.

“The blockchain promise is to do better than traditional banking world. AMLT mechanisms of data submissions and high quality risk data is a way to bring further convenience and transparency for transactions. This enhances security of not just cryptocurrencies, but web overall.”  TokenMarket CTO and Co-Founder, Mikko Ohtamaa stated.

The partnership aims to create a more streamlined process regarding the sharing of data in the crypto economy and in effect a global standard for AML for all blockchain based currencies. Coinfirm’s AMLT Network, combined with TokenMarket’s data input and knowledge base, will allow a ubiquitous insight into users financial reliability.

For more information on Coinfirm’s AMLT Network visit https://www.coinfirm.io

For more information on TokenMarket and its services visit https://tokenmarket.net

About Coinfirm

A global blockchain regtech leader, Coinfirm serves as a foundation for the safe adoption and use of blockchain. With users including major cryptocurrencies like Dash, ICO’s, and banks, the Coinfirm AML/KYC Platform uses proprietary algorithms and big data analysis to provide actionable data and reports that increases efficiency, reduces costs and streamlines compliance to near automation. In addition, Coinfirm recently released theirAMLT Tokento allow for market participants to help rate good and bad actors in the economy, increasing safety, security, and democratizing the financial system.

About TokenMarket

TokenMarket is a premier ICO information portal and advisory firm. It combines its market experience, resources and data assets to create a professionally tailored solution to execute ICO’s safely and securely, providing an end-to-end service for token creation, presale and public sale. TokenMarket’s ICO advisory service has partnered over 30 token sales including Storj, Populous, Monaco, Civic and Dent, raising over $300 million in total. Which has led to TokenMarket hosting its own insights into the token economy conference in Gibraltar on June 28-29, 2018.

More information on Tokenmarket 2018 available at https://tokenmarket.net/conference-2018/home

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.

Shipping startup ShipChain denies allegations by state regulators that it broke securities laws during its SHIP token sale

SINGAPORE, May 24, 2018 – The Golden Boot winner of the 2014 World Cup, James Rodriguez, announced today on his social media platform that he has signed an agreement with blockchain-based startup platform SelfSell, to launch his own cryptocurrency as a new vehicle to reflect his brand values, and build stronger fan relationships.  

In the announcement made by the Colombian, Real Madrid and Bayern Munich star, the “JR10 Token”, which is named after him, will be available for pre-purchase via the SelfSell App on 27 May, making him the first international football player on active duty to break into the blockchain world through his own cryptocurrency asset.   

The announcement comes as the player prepares for the 2018 World Cup, and bids to repeat the goalscoring success of four years ago. James attributes the growth in his professional football career to his supporters. In return, he has co-created the “JR10 Token” with SelfSell as a gift to his fans, aiming to create a closer fan community and more possibilities for him to interact with supporters.

According to SelfSell, “JR10 Token” holders can enjoy exclusive privileges, including purchasing James souvenir products, participating in fan club meetings, and also joining the future growth process of the footballer within the APP.

SelfSell founder Mr Li Yuan believes that in the blockchain ecosystem, which he describes as a sharing-enabling community, everyone can be both the creator and beneficiary of value.

By launching the “JR10 Token”, James will be much more than an ambassador for brands. He will create and maintain his own brand values. “It is a fresh new model to build James’ personal brand asset – having it blockchainized,” says Li.

Li also says that by launching the cryptocurrency, the football star will be more involved in a wide range of activities conducive to his brand value promotion, including interacting with his fans, and that the currency can also be used in a variety of scenarios to benefit sponsors, media, football clubs and other relevant stakeholders, and become a new engine to grow the global football market.  

With the concept of Value yourself, Value your future, SelfSell is aiming to create the world’s first human-based asset platform. SelfSell believes that people should have equal rights to release their own cryptocurrency, in the value of combined assets of personal brand, personal creditability, personal potentiality, and personal income.

For more information about SelfSell, please visit https://selfsell.com/, or contact [email protected].

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.

New estimates have found that criminals have stolen around $1.2 billion in cryptocurrencies since the start of 2017, further highlighting how the market is becoming a lucrative market to criminals.

EU GDPR Law May Impact Criminal Investigations

The figure was released by the Anti-Phishing Working Group (APWG), which was looking into the cryptocurrency market in addition to reported and unreported theft, reports Reuters.

Dave Jevans, who is chair of the APWG, and CEO of cryptocurrency security firm CipherTrace, said:

“One problem that we’re seeing in addition to the criminal activity like drug trafficking and money laundering using cryptocurrencies is the theft of these tokens by bad guys.”

Of the figure believed to be stolen by criminals, only around 20 percent have been recovered. However, the report adds that with the new EU General Data Protection Regulation (GDPR) law coming into effect today, this will see police investigations into criminal activity taking a step back.

Jevans added:

“GDPR will negatively impact the overall security of the internet and will also inadvertently aid cybercriminals. By restricting access to critical information, the new law will significantly hinder investigations into cybercrime, cryptocurrency theft, phishing, ransomware, malware, fraud and crypto-jacking.”

The implementation of GDPR means that companies will need to follow rules that protects customer data that they are still in contact with. Companies that aren’t in contact with customers are required to return that personal data to EU citizens and residents.

With cryptocurrencies rising in popularity criminals are turning to them as a way of making a quick buck on the back of others. Just yesterday it was reported that crypto-jacking was becoming the preferred method of attack as criminals turn to regular computers to mine for digital currencies for financial gain.

According to the report, YouTube experienced a threefold increase in illegal coin mining via malware-embedded adverts. Not only that, but the report found that Malwarebytes has been blocking eight million malicious mining attempts per day – equating to an astonishing 248 million per month.

Featured image from Shutterstock.

The post Report: Criminals Have Stolen $1.2 Billion in Cryptocurrencies Since 2017 appeared first on NewsBTC.

New York, N.Y, May 24, 2018 – OSA Decentralized (OSA DC), a team of experts in artificial intelligence, blockchain technology and the retail industry, has launched a token sale. The company’s goal is to use capital raised in the sale to scale their AI-powered blockchain platform and provide the entire retail industry with a much-needed digital overhaul.  

Due to antiquated, analog-based systems still used in product ordering, shipping, and inventory management, retailers lose more than $400 billion each year. This also causes overstocking or under stocking, as many stores fail in their efforts to manage inventory based on customer demand. Supermarkets and grocery store chains lose an additional $100 billion annually when high volumes of unsold perishable foods pass their expiration dates and are discarded.

OSA DC’s data and retail experts are dedicated to bringing order to the industry’s chaos by leveraging their AI, blockchain and smart contract technology. This will ensure that every bit of data generated by manufacturers, farmers, shipping companies, or grocery stores on a retailer’s supply chain is tracked by everyone else. Because of the transparent and incorruptible technical characteristics of a distributed ledger system that defines blockchain technology, OSA is confident there will be greater trust between retailers and their partners and product waste will be eliminated.

“There’s a massive shift underway in retail right now. Supermarket chains in every country are trashing their antiquated, untrainable retail management software programs and replacing them with trainable, cloud-based algorithms and in-store robots enhanced with artificial intelligence,” said Alex Isaev, CEO of OSA DC. In fact, according to an economic forecast published by the International Data Corporation (IDC), retailers worldwide are spending $3.4 billion — this year alone — on a range of AI systems, including robotic shopping assistants and omnichannel operations. “With so many retailers rushing to integrate AI, the first company to create a blockchain-based platform to accelerate that growth has a huge opportunity to dominate the market. We are that company.“

2,285,714,285 OSA tokens have been issued with 45% of tokens (1,028,571,428) available for purchase during the sale (1 OSA token = 0.0002 ETH). The company anticipates it will raise up to $40 million in the offering, with 39% of the funds to be used for Product Catalogue and Image Recognition Development, 21% to be invested in Core Product Development, 18% to be invested in R&D, and 17% to support Business Development. OSA DC’s goal is to use capital raised in the sale to enrich the existing solution with image recognition model and comprehensive product master data catalogue, mount it on AI-powered decentralized blockchain platform and scale it starting with the biggest markets – USA, China, Japan and South Korea and eventually worldwide.

Consumers will be able to use OSA Tokens to pay for B2C services, receive exclusive promotional offers and, of course, purchase groceries at major supermarket chains in Europe, North America and the Asia-Pacific region.  Managers at partnering supermarkets agree with OSA’s founding team of data scientists that cryptocurrencies, including OSA tokens, will be a standard, widely-accepted form of currency at grocery stores and retailers worldwide. Currently in the U.S., 13 national retailers now have payment options for cryptocurrencies.

Since it was founded in 2015, OSA DC has generated more than $1 million in revenue by partnering with 20 retailers. The company provides services to major international brands including Coca-Cola, Mars, L’Oreal, Nestle, and Metro Cash & Carry.

For both retailers and brands, the company deployed the OSA Hybrid Platform, an AI-powered, Big Data platform that autonomously manages a store’s inventory, drastically reducing the frequency of out-of-stock items and improving revenues by an average of 5.4 . After 3 years of R&D and testing the platform through its partnership with Efficient Consumer Response (ECR), an organization representing more than 70 of Europe’s leading manufacturers and retailers, OSA DC’s founders are ready to deliver their platform and proven solutions to retailers and supermarket chains worldwide.  

“In my 50 years in the industry, I’ve developed and executed many systemic changes in retail operations”, said Don Swann, former Walmart executive and currently the President and CEO of Cygnus Familia. “Of all the changes I’ve made to make my stores more efficient, none have had the full potential and customer trust that I’ve seen with the OSA Hybrid Platform.  This is truly a game changer!”

Blockchain records, stores, and tracks complex digital transactions and detailed product data and then makes the data accessible to everyone on a retailer’s supply chain. Due to these functions, blockchain’s democratic, transparent technology is likely to have the greatest impact on consumers. Whether information is delivered to them through a smartphone app or a speaking, artificially-intelligent robot assistant in every store, shoppers will have access to a wealth of data about every product they’re considering for purchase while they’re in the store shopping.

With the unprecedented buying power it implies, shoppers will access competitive pricing information, extensive details about the ingredients of a food product, and whether it meets the specifications of their diet. In-store robots can instantly access and update what the robot “sees” when the shopper walks into the store. Consumers will know the name and address of the farm where a chicken they’re buying was raised or, if they’re about to buy a tuna from the “Fresh Fish” section of a grocery store, they’ll know instantly when and where the tuna was caught. Of course, they’ll also know whether the store’s advertising is accurate because they will be aware if the fish is authentically “fresh”.   

All of this data – and much more – will give consumers a level of authority in retail they’ve never had previously. The emergence of well-informed, powerful shoppers explains why supermarkets are scrambling to be the first in their geographic or vertical retail market to integrate AI and blockchain technologies. Embracing such technology now will do much more than save retailers money and minimize waste; it will also give consumers the power and respect they have long sought from retailers for generations.  

 

To learn more about OSA DC, the token sale, or to join a conversation, click a link below:
	During the sale, 100 OSA Tokens will be given away daily to one lucky Whitelist subscriber. Interested? Visit: http://www.osadc.io/en/100token-rules
	To learn more about OSA DC and participate in the token sale, visit: www.osadc.io
	To join the conversation on Telegram and speak with the company’s founders and developers, visit: https://t.me/osadecentralized
	Follow us on Twitter: www.twitter.com/global_osadc
	Follow us on Facebook: www.facebook.com/OSAdecentralized
	Learn more about OSA DC on Medium: www.medium.com/osadc

With expertise in AI, blockchain, and retail-focused technology, the OSA DC team is ready to give shoppers the power and respect they deserve.

NEWS MEDIA INQUIRIES:

Reporters interested in scheduling a phone or in-person interview with an OSA manager should call (510) 677-2947.

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.

Having faced naysayers since its inception TRON has struggled to establish legitimacy and has been a classic FUD & FOMO coin.  The move to its own Mainet on May 31st, however, gives TRON an opportunity to deliver on its many promises — and justify the market’s bullish sentiment

A new generation of distributed application games have arrived on Ethereum — raising questions about the network’s capacity to cope after December’s CryptoKittie congestion 

An investor and three founders are being sued in a landmark cryptocurrency case centered on the ethereum decentralized application Augur.

Shanghai-based startup VeChain intends to verify the whole wine supply chain with blockchain technology

Two Bitcoin Cash (BCH) proponents, Javier Barrera and Andrés Rivera, believe the evolution of cryptocurrency will be bolstered by the BCH network so they recently developed a payment processor called Bitek.co. The company offers merchant processing with payable invoices, and accounting services as the Bitek platform provides merchants with the ability to accept BCH and convert all or a percentage of the funds into Colombian pesos.

Also Read: Markets Update: Stormy Weather Continues to Plague Cryptocurrency Traders

Bitek: Promoting the Use of Bitcoin Cash in Columbian Markets

There’s a new payment processor for the Bitcoin Cash (BCH) network called Bitek.co  — a system that allows merchants from Colombia to accept BCH and convert to pesos immediately if they choose. The business model is similar to the Bitpay service as Bitek offers BCH-based merchant processing, invoices, and accounting services its customers. Bitek also offers a community section on their website for merchants who want to announce they accept BCH. In order to use Bitek merchant who are interested need to register and fill out the necessary information for a payment gateway and receiving deposits in BCH and Colombian pesos.  

Bitek’s founder Javier Barrera recently spoke at the Satoshi’s Vision Conference in Tokyo, and detailed how his team is integrating BCH into Colombia’s retail market. Moreover, earlier this week Javier Barrera and Andrés Rivera explained their passion for Bitcoin Cash in an interview with the Latin American publication Diariobitcoin. The founders explain they believe BCH is a better Bitcoin and “it is the asset that best fits with the definition and the philosophical line proposed by Satoshi Nakamoto.” Bitek plans to educate residents in Colombia with meetups and educational programs throughout the region as the firm tells Diariobitcoin:

The objective is to promote the use of Bitcoin Cash in the national market.

BCH Meetups and Bitek’s Plan to Launch a Marketplace

Barrera explains that Bitek has three benefits for merchants looking for a BCH payment gateway such as accounting, liquidity with a remuneration in Colombian pesos, and protection from cryptocurrency volatility as BCH deposits can get the equivalent in pesos the same day. The exchange rate is based on estimates stemming from local exchanges and trading platforms like Bittrex. Just like other cryptocurrency payment processors, merchants have the ability to convert 100 percent of their funds into pesos or a fraction. 

Bitek plans to launch a marketplace as well that facilitates trades between buyers and sellers and payments made with Bitcoin Cash. Further Bitek has detailed it has been in talks with BCH-based firms such as Centbee and Nchain concerning future collaborations. The startup has also organized BCH meetups on a weekly basis at popular venues like the Revellion Cultu-Bar. Bitcoin Cash supporters seem pleased with another addition to the slew of companies offering BCH infrastructure services.

What do you think about the Bitek payment service? Let us know your thoughts on this subject in the comments below.

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Images via Shutterstock, and Bitek.co

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Want to find out how much Bitcoin Cash is worth in real-time or convert your portfolio into USD check out Bitcoin.com’s Bitcoin Cash Converter here!

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