Day: June 6, 2018

The US crypto exchange Coinbase has begun the process to become a fully registered broker dealer with the Securities and Exchange Commission

The head of the SEC has clarified how his agency defines what is or is not a security, saying that the tokens used in initial coin offerings (ICOs) are securities, whereas coins like Bitcoin are not.

SEC Clarifies Position on Securities, ICOs

Jay Clayton, the head of the U.S. Securities and Exchange Commission (SEC) reassured listeners of CNBC yesterday, that the agency won’t change the rules for how it defines what is and what is not considered a security when it comes to cryptocurrency.

“We are not going to do any violence to the traditional definition of a security that has worked for a long time,” Clayton said. “We’ve been doing this a long time, there’s no need to change the definition.”

He added that the U.S.’s $19 trillion securities market is ‘the envy of the world’ under the current guidelines.

In relation, the chair also stated that the agency is not going to adjust the rules for ICOs. The fundraising method has garnered investors over $9.6 billion so far this year — in comparison to the first quarter of 2017 that saw combined ICO investments amounting to just under $40 million. That massive increase in just a year’s time shows how popular ICOs have become, and fortunately the SEC is not going to stifle growth by changing any rules relating to how it classifies them.

In fact, the SEC is ‘happy to help you do that public offering’ if issuers comply with the SEC’s laws, Clayton said.

“If you have an ICO or a stock, and you want to sell it in a private placement, follow the private placement rules,” he said. “If you want to do any IPO with a token, come see us.”

Security or Not?

The second thing Clayton discussed was another clarification, this time about how the agency determines which cryptocurrencies fall under its jurisdiction. He compares Bitcoin to fiat currencies like the dollar and euro, saying:

“Cryptocurrencies: These are replacements for sovereign currencies, replace the dollar, the euro, the yen with bitcoin … That type of currency is not a security.”

To clarify, tokens or digital assets used in ICOs are securities by Clayton’s definition:

“A token, a digital asset, where I give you my money and you go off and make a venture, and in return for giving you my money I say ‘you can get a return’ that is a security and we regulate that,” Clayton said. “We regulate the offering of that security and regulate the trading of that security.”

What determines whether an asset is a security follows what’s called the ‘Howey Test,’ which comes from a 1946 U.S. Supreme Court case that classified securities. Last month, to bring attention to the issue of deceptive offerings, the SEC created its fake HoweyCoins.com website, which breaks down the red flags of fraudulent fundraising to educate potential victims.

Earlier this year the financial watchdog began a concerted crackdown on potentially disruptive ICOs. The agency, along with peers at the U.S. Commodities and Futures Trading Commission (CTFC), have been proactive in warning consumers about pump and dump schemes. They have even issued subpoenas, even going so far as to charge several cryptocurrency projects with fraud.

Featured image from Shutterstock.

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On Tuesday the blockchain firms Nchain and Coingeek announced a ‘Miners Choice’ initiative that aims to promote lowering minimums for mining fees and transaction values. The company’s mining operations plan to lead the effort by adjusting their pool’s settings in order to remove the minimum ‘dust limit’ as well as accept some zero mining fee transactions in their blocks.

Also Read: IMF Says Bitcoin Could Create Less Demand for Regular Debt-based Fiat Money

The ‘Miners Choice’ Initiative Proposed by Coingeek and Nchain

The two BCH-centric blockchain companies Coingeek and Nchain have started an initiative called ‘Miners Choice’ which aims to lower the mining fee for some transactions to zero while also removing the current minimum dust limit of 546 satoshis. Both of these ideas could make on-chain platforms like Memo, Blockpress and many others even more suited to performing a plethora of actions. Removing the dust limit would allow people to send as little as 1 Satoshi (one hundred millionth of a single BCH coin) via a transaction.

Secondly, the companies believe BCH mining pools could designate a certain amount of space per block for free transactions that don’t require a network fee. Again, similarly to the aforementioned instance above, free transactions would allow BCH applications, especially ones focused on micropayments, to become even more robust. The two pools (Coingeek and Nchain’s BMG Operations) plan to publish a technical article on the benefits of removing the dust limit and accepting a fraction of zero-fee transactions.

Nchain’s Chief Scientist: “Miners Choose What is Profitable”

Some people within the BCH community are skeptical with this plan. The CEO of Cointext, Vin Armani, asked Nchain’s Chief Scientist Dr. Craig Wright whether mining nodes accepting 1 satoshi outputs could be “a recipe for instant spam attack?” Dr. Wright responded to the question by stating:

Funny how people see some free and start to jump on MUST be all — Well, mine and not accept it if this is what you dislike, but, we mine for profit and this means more.  

News.Bitcoin.com briefly spoke with Nchain’s Dr. Wright and asked him why he thinks miners should opt in on this initiative to remove the dust limit and accept some free transactions.

“I proposed it to Calvin [CEO of Coingeek] and convinced him,” Dr. Wright explains.

The [‘Miners Choice’] initiative stops this centrally planned BS — Miners choose what is profitable. Tokens are easy — Back to Bitcoin circa 2013.

Fostering BCH Adoption and Creating More Use Cases

The two companies believe that these initiatives could spark more BCH usage while also giving miners choice to “set more fee level ranges, from zero to small amounts.” Further, the firms believe the initiative also bolsters BCH users’ freedom to decide how much they want to pay and how fast they want the transaction to arrive.

[The ‘Miners Choice’ initiative] fosters a healthy competitive fee marketplace among miners, which will keep fees low for users and support BCH growth,” Coingeek and Nchain emphasize.

What do you think about the ‘Miners Choice’ initiative? Let us know your thoughts on this subject in the comment section below.

Images via Shutterstock, Twitter, and Pixabay. 

 Prove ownership on the Bitcoin Cash Blockchain for only 0.0005 BCH. Using the Bitcoin.com Notary.  

The post Nchain & Coingeek Reveal ‘Miners Choice’ Initiative for BCH Dust Limit and Fees appeared first on Bitcoin News.

Cryptocurrency exchange Circle is seeking a banking license from the federal government of the United States. If successful, this would be the first cryptocurrency exchange that becomes an official bank in the United States, which would be a major milestone for the cryptocurrency world.

Becoming a bank would give Circle some important benefits, such as being able to access the central banking system without intermediaries which would allow Circle to settle with other banks in different markets around the world. Also, Circle would be able to store money in the Federal Reserve, as well as take loans at the extremely low inter-bank federal funds rate of 1.75%, freeing Circle from dealing with higher-cost lenders. These benefits would improve the efficiency and reduce the cost of Circle’s services.

Becoming an official bank would also simplify Circle’s regulation process. Cryptocurrency exchanges are regulated differently in each state, but if Circle would become an official federally-recognized bank, it would only have to answer to the federal government. As Circle’s chief compliance officer Robert Bench says, instead of “50 conversations”, Circle would only have to be involved in one conversation.

Additionally, Circle is trying to register itself as a brokerage and trading venue with the Securities and Exchange Commission (SEC). This would give Circle the proper licensing to facilitate trading of digital assets considered to be securities. This is crucial since Circle acquired Poloniex for USD 400 million in February 2018, where there are dozens of cryptocurrencies being traded, some of which could be considered securities. Already, many cryptocurrencies have been delisted from Poloniex following Circle’s acquisition to avoid SEC backlash.

Circle has an OTC trading service that transacts USD 2 billion of cryptocurrency every month, as well as an investing platform where users can put money into various cryptocurrencies but not withdraw the cryptocurrency. Circle also has a pay service where users can send money instantly to people in 29 countries with USD, GBP, and EUR. Deposits held with this service are FDIC ensured up to USD 250,000, like all banks in the United States.

It is only natural that a service like Circle which deals with so many financial transactions and deposits would consider becoming a bank. Only time will tell if the US government will let a firm so heavily involved with cryptocurrency to achieve this.

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American trading and technology firm Susquehanna International is now offering cryptocurrency trading to its clients

Ex-hedge fund manager Michael Novogratz has reneged on his promise to build the ‘Goldman Sachs of crypto’, instead referencing the notorious bank Drexel Burnham Lambert.

This investment bank was behind the junk bond market in the 1980’s and is known for one of the biggest insider-trading scandals on Wall Street.

Integrity for Junk Bonds?

Novogratz is the founder of Galaxy Digital, a crypto merchant bank which raised $250 million in private funding. It was set to launch in December 2017 but was stalled as Novogratz didn’t like the market conditions for taking investor’s money. The investment banker, who hired Goldman Sachs vice president Richard Kim as COO of Galaxy Digital, made his comments on Tuesday at the Bloomberg Invest conference in New York.

“I was originally saying we were going to build the Goldman Sachs of this space. Now, and I know this is going to get me in trouble, but it’s actually more like Drexel. If you think about what Mike Milken and his guys did, they helped credentialize junk bonds, high yield as an asset class. They were the proselytizers, the traders, the bankers,” said Novogratz.

Drexel Burnham Lambert folded in 1990 due to an insider trading scandal. This involved characters such as Drexel managing director Dennis Levine, who’s life was described by Fortune as a ‘quagmire of deceit and betrayal.’ At its peak, it was the fifth largest bank in the U.S. and was forced into bankruptcy after employee Michael Milken was charged with insider trading. It’s finances were also in a mess after a crash of the junk bond market in 1989.

In making the comparison to junk bonds, Novogratz may be making a comparison to the rise of initial coin offerings (ICOs)m which have already raised over $9 billion so far this year. While many are legitimate projects, the amount of money flowing into them has led to questions over the comparative value of the projects and whether or not the developers will actually create what they set out to do. Ethereum founder Vitalik Buterin has previously called it the ICO bubble.

Galaxy Digital is based in New York and aims to provide institutional merchant banking for crypto assets. It’s trading strategies are initially based on arbitrage opportunities, where an asset may be valued differently on different exchanges and investors can profit by buying on one and selling on another. The funds will go towards private investments as well as ICO and pre-ICO investments.

In May, Bloomberg and Galaxy Digital launched the Bloomberg Galaxy Crypto Index (BGCI). The index tracks the performance of the biggest sectors of the cryptocurrency market as well as the ones with the highest liquidity. It is weighted by market cap and measures the performance of 10 currencies traded against the dollar including Bitcoin, Ethereum, Monero, Ripple, and Zcash. It also makes distinctions between stores of value, mediums of exchange, smart contract protocols, and privacy assets.

At the time, global product manager for Bloomberg Indices, Alan Campbell, said: “The launch of the Bloomberg Galaxy Crypto Index reflects our clients’ growing interest in cryptocurrencies. The index brings our rigorous approach to index construction to cryptos and will provide investors with a transparent benchmark to gauge the performance of the broader market.”

Featured image from Shutterstock.

The post Investment Banker Novogratz Wants to Build the ‘Drexel of Crypto’ appeared first on NewsBTC.

Swiss bank Hypothekarbank has become the first bank in the country to provide crypto companies with business accounts

Generally, Litecoin is a long term buy and after several fundamental announcements, odds are prices are likely to take off according to our Litecoin price projection. Though price action points a different picture with prices declining three percent in the last 24 hours, today and tomorrow would be important.

From the News

Recent Litecoin Foundation and Charlie Lee’s drive for merchant and retail adoption is surely paying off. At the moment, given how things are turning out, we can confidently say that their #PayWithLitecoin Social media campaign has been a success. We have seen several high ranking merchants and payment providers increasing their payment options by listing Litecoin. This is wonderful from a holders’ perspective and why not? Many analysts have come towards the support of this medium of exchange coin saying that it’s even poised for further gains.

It’s been truly amazing to see all the hard work that has gone into the #PayWithLitecoin movement!! The @LTCFoundation & all the volunteers have absolutely nailed it with this website. Proud to have been along for the journey.
BIG #Litecoin https://t.co/zcSjMmw1OO pic.twitter.com/dFSnXNJGzP

— KatŁ (@RedKatLife) June 6, 2018

In my view and I reiterate, there is but a gross undervaluation of Litecoin. Technical arrangement from price action and certain fundamental aspects of the coin complements this view. Of course the user case is there and from a development point, supporters got something to cheer about following their latest Litecoin core update.

In the face of 51 percent attacks, Charlie Lee who is the coin’s ambassador has come out to defend the coin. Of course after LitePay debacle and the consequent breach of trust, we need further assurance. Luckily for us, we have solid metrics that he showed supporters on what it could take to pull out such a move and yes, it looks like the network is safe.

Besides, to wash out the LitePay stain, it is rumored that the Litecoin Foundation is creating a better and even faster version of LitePay as they look to boost their #PayWithLitecoin campaign-which now has a website. If that is indeed true then we might see Litecoin prices correcting to the upside as they correct this “undervaluation”.

Litecoin (LTC) Technical Analysis

Weekly Chart

Litecoin Weekly Chart by Trading View

In line with our previous analysis, we now have a clear triple bottom after last week’s bullish bar. $120 is apparently turning out to be a strong spring board for buyers and that’s the reason why the nature of this week’s close will either make or break Litecoin. In any case, it’s highly like that buyers may pick up and reverse May’s long covering as market participants jump in and pump prices. We are already seeing that from price action because every time there are gains in lower time frames, the lower wick of this week’s candlestick keep getting longer.

The longer it is, the more the buy pressure and the more valid our long calls are. However, rather than diving in without due diligence, I recommend buys—for risk on traders-once bulls push prices above $140 or week ending May 27 highs. Otherwise for risk off and hawkish traders, buying on dips or at current prices with stops at $115 or last week’s lows can be a good trading strategy.

Daily Chart

Litecoin Daily Chart by Trading View

At this time frame, it’s clear that buyers have an upper hand over price action. All we need is a follow through of last week’s event and aligning with the hawkish trend that was set in place in April.

As such, buying on dips is but a good move now that Litecoin prices found support at our first level of support at $115. Because yesterday was bearish negating the double bar reversal pattern after June 4-5, today risk off traders can decide to keep off trading and wait to see what happens at $115. If not, then waiting and ramping up longs at $140 as set in the weekly chart is safer.

The post Current Spot Litecoin Price Isn’t Indicative of Its True Value: Litecoin (LTC) Technical Analysis (June 7, 2018) appeared first on NewsBTC.

Regardless of our stand, Tron is making progress by not only marketing themselves but by placing themselves at strategic points as they aim to expose themselves to incoming capital injection. So far we have seen collaboration with exchanges but with Shift Market and BitForex, it’s a different ball game. As this is happening, IOTA is low while EOS is struggling to print above June 2 highs.

EOS Technical Analysis

EOS Daily Chart by Trading View

After mainnet launch, the scale and scope of the EOS project is becoming more apparent. By all accounts, it’s genuinely massive. That’s not only because it’s a global project but because of the sheer level of participation not only from individual influencers but from block producers who want to man the EOS network. Yes, we have exchanges bidding and advertising their intentions to EOS holders but the real gem is those individual firms who want to take part in transaction validation. All of these BP candidates are technical adept and are would be a quality addition to the network should they get chosen. Before then, their drive is what will set them apart and that’s what voters are monitoring.

On to the charts now and prices are still moving within the mainnet bar. As such, all we need is to stay put and trade according to yesterday’s trade plan. And because we are bullish, we recommend buying on dips preferably in lower time frames with stops at $12. On the other hand patience can be more profitable because by then EOS bulls would have pushed prices above $15 or June 2 highs. Word of caution though, sustained sell pressure which causes price collapse below $12 would cancel our bullish skew.

Litecoin (LTC) Technical Analysis

Litecoin Daily Chart by Trading View

The cool thing about this coin is the sheer number of users and retailers using them. While we can attribute this to their online campaign, let’s not refute the fact that its inherent design as a “silver of Bitcoin” gives it some weight. Solely because of that, I strongly believe that Litecoin’s current price doesn’t reflect its true value.

When it comes to the charts, buyers are beginning to jump in to this trade in line with yesterday’s projection. Yes, ideally buyers should begin loading up once prices push above $130 but that doesn’t mean buying at current prices is wrong. As a matter of fact zooming in to the 4HR chart and buying on every higher high would translate into better and safer entries with tighter stops at $115. It depends on how you would like to handle that but the trend is clear: buy on dips in lower time frames or wait for a break above June highs at $130.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens Daily Chart by Trading View

Some of Stellar’s objectives as spelled out by the founder Jed McCaleb include using technology in the right manner to reduce inefficiencies while improving human conditions. This is why the seventh edition of Stellar Build Challenge shall be reflective of this drive.

Yes, you can use Ledger Nano S wallet for accessing a BANK-like account. Stellar Fox, a finalist for 5th Stellar Build Challenge is one of the services that allow you to do just that:https://t.co/XueSBWaaD2… https://t.co/XueSBWaaD2

— Stellar Lumens (@StellarLumens) June 5, 2018

Part of the mission of this challenge-whose winner shall be made known by end of August is creating a peer to peer wallet, better explorer and Trade Bot and a useful social trading environment. That’s besides adding new features submitted by developers to the Stellar Platform through their Open Source Contribution calls.

Now, on the chart we are seeing some tidbit of gains but not strong enough to reverse June 4-5 losses. As long as prices are inching higher, we shall stick with our previous trade plans as we wait for Stellar Lumens prices to close above 30 cents and 40 cents. If not, any realignment and bear pressure liquidating Lumens prices below 27 and 25 cents would effectively cancel out our bullish projections.

Tron (TRX) Technical Analysis

Tron Daily Chart by Trading View

It’s partnership after partnership and that’s what many claim is the reason why Tron continues be a subject of discussion. Two days ago, Justin Sun announced that they shall be partnering with Shift Market and that by itself is a positive indication that could help TRX coins inch up. Shortly afterwards, their collaboration with BitForex would increase TRX trading pairs to more than 80. What this means is that traders would have more options to trade TRX and in the process increasing the overall liquidity.

Over 100 trading pairs for $TRX! #TRON never sleeps. pic.twitter.com/5uEILygkaq

— Justin Sun (@justinsuntron) June 6, 2018

Generally, there is nothing much to write about TRX’s price action. Prices are moving within a tight one cent range. So, like yesterday, it’s a waiting game aware that any break below 5.5 cents would cancel out our bullish projection.

IOTA (IOT) Technical Analysis

IOTA Daily Chart by Trading View

Undoubtedly, Qubic would change IOTA and how things are done but here’s the caveat: since it’s another layer on top of IOTA, implementation will take sometimes. Before then, IOTA Foundation and their lead developers like David Sønstebø will have to assure the community that their network is in fact secure and that Curl is but a reliable hashing function. In the meantime, user engagement like this could end up lifting prices and increasing IOTA’s reach.

"Security researcher" makes claim about flaws in IOTA's security, but refuses to provide evidence due to "a lack of time" in Twitter spat with CFB https://t.co/MjScn4WFWz #IOTA #IOT #Tech #m2m

— /r/IOTA (@Reddit_IOTA) June 6, 2018

As it is, $1.6 remains as our key support line and before we draw conclusions and change our stand, we should understand that our bullish projection is still valid. Of course, following our previous recommendations, we need not to guess where the bottoms are but instead wait until when market participants prints those out. The only undoing is if we see IOTA sellers pressing forwards and closing below $1.5 with remarkably high volumes. If that happens, we change tact, liquidate IOTA and aim for $1.

The post IOTA Network Security FUDs Resurfaces Denting Bulls: IOTA, Tron, EOS, Litecoin and Stellar Lumens Technical Analysis (June 7, 2018) appeared first on NewsBTC.

Havven, a decentralised payment network and stablecoin is launching nUSD, a decentralised stablecoin on the Ethereum blockchain, on June 11. The stablecoin space is promising to be one of the most hotly contested cryptocurrency spaces in 2018, with Havven establishing an early mover advantage, having successfully completed a $30m token sale in February this year.

The high market cap and clear use-case of centralised stablecoins has encouraged a variety of projects to add the benefits of decentralisation to the utility of stablecoins. A centralised stablecoin is at risk of seizure or interference, and fails to make full use of the benefits of blockchain technology. Several stablecoin projects have arisen in the last few months, employing a variety of mechanisms to create stability without reverting to central ownership.

nUSD, which keeps a stable value relative to the US dollar, is the first nomin, the stablecoin in the Havven system. By the end of 2018, Havven anticipates launching nomins pegged to a variety of global currencies, including nEUR, nAUD, nYEN, and nKRW.

Havven uses a dual-token mechanism to create a stablecoin that is decentralised, asset-backed, and scalable. Nomins are backed by the collateral token in the Havven system, havvens, which are locked up and collateralised to issue nomins against. Havvens derive their value from fees that are taken from all nomin transactions, which are distributed to all havven holders who collateralise their havvens and help maintain nomin price stability.

“The launch of nUSD less than four months after our token sale proves our ability to efficiently deliver Havven to the world,” says founder, Kain Warwick. “A medium of exchange that is stable, scalable, and decentralised is exactly what the cryptocurrency ecosystem needs right now.”

“Even just over these last few months we’ve seen the announcement of several new stablecoin projects, which shows that a lot of people are recognising it’s what the space requires to continue maturing.”

Havven has previously announced partnerships with a variety of projects that will use nomins within their systems, including MARKET Protocol, intimate.io, Swapy, and several more.

Havven boasts a selection of leading advisors, including Matthew di Ferrante, a security Engineer at the Ethereum Foundation, and Walter de Brouwer, founder of doc.ai and former Entrepreneur in Residence at the University of Cambridge. Havven is also backed by some of the world’s most prominent cryptocurrency funds and backers, such as BlockTower Capital, BlockAsset, and GBIC.

Visit the Havven blog for regular updates: https://blog.havven.io
Join the Havven Telegram community: https://t.me/havven_official1

Contact Maria Kaladze, Head of Marketing at Havven, for more details: [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.

VinEstate, a decentralized blockchain real estate platform is going to start its crowd-sale on Jun 15, 2018. The target object is almost focused on big investors who are interested in this potential project and willing to join in this significant project as a loyal member through investment in buying VinEstate token – VEC.

VinEstate aims to become a global decentralized real estate platform which applied blockchain and used VEC – ERC20 token as a currency unit. It empowers the real estate buyers and sellers by facilitating them with low-cost currency exchanges, enables participation in the global economy and develops the new outlook for this community by using open architecture.

VINESTATE is conceptualized for better consumer adoption of cryptocurrencies, for swift high-speed transactions of money at will and that too at little cost.

The Beauty of the VINESTATE’s platform is that to gain an advantage of the platform a user need not go in depth to understand the technical details of crypto and blockchain technology. VINESTATE is user-friendly, secure, and affordable

Key Features of VINESTATE

• A free platform for trading cryptocurrency
• Based on a model offers equal rights to every token owner
• Provides an absolute secure platform for distributing the piece of real estate
• Complete freedom for the user to sell or buy tokens without any intervention of the third party
• Indeed a versatile token thereby giving absolute immunity to a member for transferring or purchase tokens
• Attractive rewards for users who buy real estate in the platform and join the voting system.

With this forward-looking cutting edge, Ethereum blockchain technology VEC is aiming to strengthen the mainstay of real estate financial systems to let investors cast their net wider and delve deeper into global property markets.

VinEstate platform is planning to launch in March 2019 as the roadmap. Not stopping here, ecosystems are continuing to expand to VinHealthcare and VinEducation in 2019.

For more information, visit https://vinestate.co

Contact: [email protected]

Official channels :

Facebook: https://www.facebook.com/VinEstate-405053443294287/ 

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.

Coinbase announced Wednesday that it was acquiring three financial services firms in a bid to receive a federal securities license.

Bitcoin Press Release: Having carefully considered the next steps for DataBroker DAO, the DTX token sale has been extended to the 30th of June and for every DTX purchased, participants get a bonus token with the extra tokens subject to a 3 month lock-up period.

May 31st, 2018, Dubai, UAE – Since the launch of the Token Sale, the DataBroker DAO platform has undergone radical positive changes as well as broadening the scope of vision for the project. New opportunities have presented themselves, and so DataBroker DAO is proud to reveal the exciting details to the public.

Token Sale Extension & Token Distribution Doubled

To begin with, just as the DTX token sale period was nearing its end, several questions arose from the community on the telegram channel regarding whether or not unpurchased DTX tokens would be burned or not.

Taking away the most salient points of the discussion, DataBroker DAO has concluded that the best and most fair approach would be to distribute them to the community. For everyone that already has and will go on to participate in the DTX token sale, one it has concluded, you automatically receive an extra token for each one purchased, increasing the base rate of 4000 DTX per 1 ETH to 8000 DTX, subject to a 3 month lock-up period.

DataBroker DAO is Heading to China

Furthermore, DataBroker DAO has been assessing the sizable Internet of Things (IoT) and sensor data market on both the manufacturing and data buyer sides. Recent findings show that the Chinese IoT market is presently gigantic, it currently is worth CNY 500 billion (80 billion USD) and that is expected to double by 2020.

In response to these findings, DataBroker DAO has extended the DTX main sale until the 30th of June to enable these potential stakeholders to join in; subsequently, DataBroker DAO will be postponing listing DTX on the CoinFalcon exchange until this extended period ends. In the meantime, DataBroker DAO is in the process of having the DTX token listed on a reputable Chinese exchange.

DataBroker DAO is additionally hitting the road and heading to China for two-weeks, visiting Beijing and Shanghai with two additional cities in consideration; the goal of which is to introduce the platform to the lucrative Chinese markets and shoot for the 108 Million DTX sale target.

Platform Development

On the technical side, DataBroker DAO is ready to launch the hotly-anticipated dataset feature that allows data purchasers to sell ‘processed datasets,’ i.e., AI, BigData, aggregation enriched data, and it will go live on the Dapp this week. DataBroker DAO believes this extra monetization option can generate waves of bold innovations on an unfathomable scale.

The team is also collaborating with external experts to finalize the release contracts, as well as implementing “a bridge between the Ethereum Mainnet with the DTX token, and the Parity based proof of authority network that will run the application.”

Additionally, DataBroker DAO would like to invite DTX purchasers with stakeholder contacts from the Chinese markets who have an interest in data monetization, to make an introduction on behalf of team members heading to China. You are all welcome to share these via DM on the DataBroker telegram channel.

DTX Token Sale

As mentioned previously, the token sale for the platforms native token DTX has been extended to June 30th, 2018. The rate of exchange is now 1 ETH per 8000 DTX; this is inclusive of participants who purchased DTX prior to this announcement. 4000 of the tokens earnt per ETH will be subject to a 3 month lock-up period.

Visit the DataBroker DAO Official Site – https://databrokerdao.com/
Check out the Whitepaper – https://databrokerdao.com/whitepaper/WHITEPAPER_DataBrokerDAO_en.pdf
Chat on Telegram – https://t.me/databrokerdao
Follow on Twitter – https://twitter.com/DataBrokerDAO
Like on Facebook – https://www.facebook.com/DataBrokerDAO/
Read the Medium – https://medium.com/databrokerdao
Follow the development live on GitHub – https://github.com/DataBrokerDAO
Check out the SubReddit – https://www.reddit.com/r/DatabrokerDAO/

Media Contact
Contact Name: Frank Van Geertruyden
Contact Email: [email protected]

DataBroker DAO 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. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.

This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. The DataBroker DAO token sale is closed to US participants and participants of all countries in which ICOs are illegal.

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The post PR: DataBroker DAO Extends Token Sale to June 30th, Doubles Token Distribution and Sets Sights on China appeared first on BitcoinNews.com.

At Amsterdam’s Money 20/20 Conference on 5 June, bank representatives from four countries were asked to respond to the question “Can cryptocurrencies spell the end of fiat currencies?”, reports Cointelegraph.

During a panel discussion, representatives from Swiss National Bank, the Bank of Lithuania, the Bank of England, and the Bank of Canada took turns in expressing their views on the topic.

The responses were generally in agreement, with Bank of Canada’s James Chapman suggesting that this situation would only occur in a hyperinflation scenario, with Swiss National Bank’s  Thomas Moser concurring that a poor fiat performance may well invite more cryptocurrency activity, but argued that “as long as central banks do a good job, there is no real for central banks to disappear”.

Switzerland is now well known as a crypto hub, as reported in Bitcoin News recently, and has achieved widespread adoption across the alpine nation. Moser clarified this suggesting that so far it had been “well tolerated” due in part to the crypto haven tag and a balanced approach to initial coin offerings (ICOs) and had become an attractive fintech magnet for many companies.

Martin Etheridge, head of division at the Bank of England, somewhat hedged his bets expressing, “who knows what the future will hold”, although he did say that he saw little prospect of fiat being overtaken or replace by cryptocurrency:

“[But] I think the odds are stacked very much in favor of fiat currencies. I think it would take a pretty fundamental shift of public perception or the existing market system for it to happen.”

Dr Marius Jurgilis of the Bank of Lithuania clarified that a central bank-issued cryptocurrency and a cryptocurrency are not the same things, adding that the main product of a central bank is “a matter of trust”:

“…but if the society starts questioning, or it if it thinks that the things we are selling could be got in a cheaper, more convenient way, other things will appear.”

He added it was this level of trust that his country’s banks were guarding while admitting that the bank’s position was not totally entrenched. In mid-April, Lithuania’s central bank reportedly began looking into cryptocurrencies, round tabling points of view from all sectors, including regulators and investors.

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