Day: June 28, 2018

The CEO of SBI, one of Japan’s financial giants and longtime Ripple partner in Asia, said he believes that investment and early adoption of cryptocurrency and blockchain technology will be key to the country’s next economic boom.

SBI CEO Looks to Blockchain for Economic Boom

At the first annual Japanese Blockchain Conference in Tokyo CEO Yoshitaka Kitao talked about his belief in blockchain to get Japan’s economy back on track to regain the global position it once held. The Chief Executive Officer of one Japan’s largest financial service providers was quoted by Forbes:

“We want to take blockchain beyond financial, there’s a lot of speculative demand around cryptocurrencies, which is why the price is going up so quickly, but people need to think about how these technologies are being used in real life and how they can improve people’s businesses.”

Japan had the second largest GDP in the world (after the US) from the mid – 1970’s through the 1980’s. By the 1990’s however, things changed and the country fell into an economic slump known as the lost decade in Japan.

SBI is investing in tech companies focused on improving mobile connectivity with 5G technology, artificial intelligence and the Internet of Things (IoT) through the $460 million AI & Blockchain Fund the company established earlier this year.

Fee Free Crypto Exchange Part of Investment Fund

SBI has had a partnership with Ripple since it invested in the company in 2016. As co-owners and operaters of SBI – Ripple Asia they have been dedicated to exploring the use of Ripple’s blockchain to improve international bank transfers. SBI launched its own cryptcurrency exchange earlier this month. VCTRADE charges no transactions fees and is focused on trading XRP, the native token of the San Francisco based company.

The exchange plans to add support for Bitcoin and Bitcoin Cash in the coming months as well as including fees for withdrawing yen, though no official date has been given for any of the changes yet.

The company has also reportedly invested in a renewable energy wind farm to mine Bitcoin Cash which Kitao says has the utility potential that Bitcoin lacks. “Bitcoin is too expensive and people are just holding it and hoping it increase in value,” The CEO said before continuing on about the necessity of real utility in technology,

“There’s a lot of speculative demand around cryptocurrencies, which is why the price is going up so quickly, but people need to think about how these technologies are being used in real life and how they can improve people’s businesses.”

Image from Shutterstock

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A China-based venture firm focused on the crypto industry aims to invest 200,000 ethereum in U.S. startups

Bitcoin Press Release: Sydney-based loyalty program EZToken has announced the launch of its loyalty reward program.

Monday, June 25, 2018, Sydney Australia – Australian blockchain company EZToken has announced the launch of its global cryptocurrency loyalty program (EZToken Rewards) in Australia. EZToken Rewards is currently the world’s biggest blockchain loyalty program, based on the size of its network. Members are rewarded with EZToken cryptocurrency rather than loyalty points for transacting with participating retailers.

Unlike loyalty points, the value of EZToken constantly changes as EZToken is actively traded on digital exchanges around the world. With real potential to become one of the most popular loyalty currencies in the world, members who earn EZToken can hold the digital currency, trade it at participating retailers or transfer to other EZToken Rewards members. EZTokens are also more efficient than traditional loyalty points, as they never expire.

Hoa Nguyen, Founder of EZToken Rewards had these words to say about the program

“I strongly believe cryptocurrencies will replace points and miles as the dominant loyalty currency around the world. Consumers want a loyalty program which provides them with value, flexibility on how they use that value and an assurance the value won’t be taken away from them via expiry. Cryptocurrencies are superior to loyalty points as they deliver to all three.”

Philip Shelper, Loyalty & Reward Co CEO also stated some of the benefits that the program can offer its users;

“Loyalty & Reward Co is proud to be providing consulting support to EZToken Rewards for their worldwide launch. We absolutely see the benefits of replacing loyalty points with cryptocurrencies and we’re confident consumers will too. It’s time for the loyalty industry to be disrupted, and EZToken Rewards are leading the way with over 80 retailers already participating in the program using the innovative EZScan© point of sale device which rewards members instantly.”

In late 2017, Loyalty & Reward Co ran a world-first blockchain loyalty research project at the University of NSW which proved rewarding members with a cryptocurrency rather than loyalty points leads to greater member engagement.

Adam Posner, CEO of The Point of Loyalty, has also provided consulting for the project, including insights from their annual Australian loyalty research study ‘for love or money 2018’ on the opportunity for cryptocurrencies to be an alternative to loyalty points. Posner said;

“Our latest ‘for love or money 2018′ research reveals that Australian loyalty program members have an appetite for cryptocurrency as a reward with 36% of members expressing an interest in being rewarded with cryptocurrency instead of points”.

EZToken Rewards have recently partnered with Surpass Business Solutions, accessing up to 3,000 new retailers in Australia to accelerate the growth of their merchant network.

EZToken Rewards generates value for members, retailers, and investors. With EZToken, members can shop at participating retailers and earn on their purchases, thereby generating more revenue for the retailers. As the popularity of EZToken increases, there’s more desire from members to acquire more, which in turn increases the demand for EZToken on trading exchanges, benefitting EZToken investors and all members holding EZToken.

To learn more about EZToken Rewards visit – www.eztoken.io.
Find EZToken on Facebook – https://www.facebook.com/eztoken.io/
Follow EZToken on Twitter – https://twitter.com/eztoken
Check out the EZToken team on LinkedIn – https://www.linkedin.com/company/eztrade-holding/
Chat to the EZToken team on Telegram – https://t.me/eztokensupport
Read up on EZToken on Medium – https://medium.com/eztoken

About EZToken

EZToken is an ERC20 token hosted on the Ethereum blockchain platform. It is the reward currency for our blockchain loyalty program; EZToken Rewards. Ezpos Holding Pte. Ltd created 50 million EZToken and ran a four-round ICO in January 2018, selling 11.5m EZToken to raise over US$10m. Ezpos Holding has over 12,000 retailers in 19 countries currently using their EZPos Point of Sale system, and they are busy recruiting those retailers to participate in EZToken Rewards.

About EZToken Rewards

EZToken Rewards is a global rewards program which rewards members with EZToken for transacting with participating retailers, once they’ve joined the program. As the number of retailers and members within the program grows, the demand for EZToken increases. EZToken will play a central role in mainstreaming cryptocurrency adoption, by developing a large reward program base which acts as a middle layer, allowing for easy and rapid cryptocurrency transactions

About Loyalty & Reward Co

Loyalty & Reward Co are a loyalty management consulting agency which focuses exclusively on loyalty program design & execution for major companies globally. Clients include Optus, Coles Liquor, HOYTS, Sportsbet, Procter & Gamble, HCF, Amdocs, Dan Murphy’s, Macquarie and Sumo Salad.

About The Point of Loyalty

The Point of Loyalty is a customer loyalty consultancy providing loyalty research and program strategy. They commission the annual loyalty research study ‘for love or money’, now in its 6th edition. Clients include Quest Hotels Apartments, Forever New Fashion, Bed, Bath ‘n Table, Advantage Pharmacy Group, Choice Hotel Group, RSEA Safety Stores, RSL VIC and BIG4 Holiday Parks.

About Surpass Business Solutions

Since 1995, Surpass has been in the business of selling computers and laptops and in 2007, extended its range of products adding Point of Sale Solutions and CCTV Cameras with the goal of providing feature rich, easy to use, robust, but still cost-efficient Point of Sale and CCTV solutions to those in the hospitality, retail and payment processing industries. With qualified and well-trained employees, combined with many years of experience, Surpass is constantly making innovative improvements to their software and hardware products, to provide the best sales and after sales service to corporate and retail clients

Youtube: https://www.youtube.com/channel/UCCYGoiRPnTTrjp6gE6UaNpg

Media Contact Info

Contact Name: Philip Shelper
Contact Email: [email protected]
Company: EZToken
Phone: +61 414 210 601
Address: Level 6/11 York St,
Sydney, NSW, 2000

EZToken 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

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Image Courtesy: EZToken

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Key Points

• Bitcoin price is stuck in a tight range between the $6,000 and $6,300 levels against the US Dollar.
• There is a declining channel forming with resistance near $6,180 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair must clear the trend line, $6,200 and $6,300 resistance levels to gain upside momentum.

Bitcoin price remained in a range above $6,000 against the US Dollar. BTC/USD needs to clear the $6,200-6,300 hurdle for an extended recovery in the near term.

Bitcoin Price Analysis

During the past three sessions, there was no major move above $6,220 in bitcoin price against the US Dollar. The BTC/USD pair remained confined in a range below the $6,300 resistance. The best part was the fact that buyers managed to hold the $6,000 support. It is currently flirting with the 100 hourly simple moving average and $6,100. Recently, it dipped a few points and tested the $6,000 support.

There was a test of the 50% Fib retracement level of the last leg from the $5,660 swing low to $6,340 swing high. However, buyers appeared and protected a downside break below $6,000. There is a declining channel forming with resistance near $6,180 on the hourly chart of the BTC/USD pair. As long as the price is above the $6,000 support, there are chances of an upside move. A break below $6,000 may put a lot of pressure on buyers and the price could drop back to $5,660. On the flip side, an upside break above $6,180 will most likely call for a test of the $6,300 resistance.

Looking at the chart, the price is mostly trading in a range above the $6,000. There are a few positive signs, but an upside break above $6,200-6,300 won’t be easy in the near term.

Looking at the technical indicators:

Hourly MACD – The MACD for BTC/USD is mostly flat in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI is moving around the 50 level.

Major Support Level – $6,000

Major Resistance Level – $6,180

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Bitcoin has been associated with criminal activities for a long time now and while the crypto community has refuted such claims, an increasing number of instances involving the use of Bitcoin in crime suggest otherwise. The latest is the indictment of two men from Maryland by the US Department of Justice. The two were allegedly manufacturing Xanax and distributing it through sales on the dark web. They would get paid in Bitcoin to maintain anonymity. The two were nabbed as part of a nationwide operation dubbed “Operation Dark Gold” which targets the illegal and criminal activities on dark web marketplaces.

The Dark Currency?

The two, Ryan Farace and Robert Swain are accused of having conducted the illegal business from as far back as 2013 according to a press release by the DoJ published on June 26. Farace manufactured the pills after which he would solicit orders on dark web marketplaces. He communicated with his clients through encrypted electronic messaging channels and used the US Postal Service to ship his orders, the DoJ claimed. To conceal his identity, Farace paid for the shipping using pre-paid debit cards which were opened in other peoples’ names. The two received payments for the completed orders through Bitcoin.

Farace and Swain conducted financial transactions that were meant to conceal and disguise the illegal proceeds, the indictment alleges. The DoJ seized over $22 million worth of assets from the two as well as other co-conspirators whose identity wasn’t revealed. $17 million of the seized assets was in cryptocurrencies, with computer equipment accounting for $2.5 million and $1.5 million being held in cash.

The government is further following up with the suspects to forfeit over $5.5 million dollars which it believes are the proceeds of the said illegal activities. Two vehicles and two residences believed to have been used by the suspects to facilitate the drug manufacture and distribution are also being pursued.

The suspects face a maximum of 20 years in prison if found guilty for money laundering, with Farace facing a further five years for the manufacture and distribution of the drugs, as well as a possible 20 years if found guilty of maintaining drug-involved premises.

The indictment is part of a nationwide crackdown by the government on illegal activities carried out on the dark web. The operation has brought together various government agencies which include the Secret Service, the Postal Inspection Service, the DoJ, the DEA and the Department of Homeland Security. According to the press release, it has led to the opening of more than 90 active cases with many suspects being arrested and charged. Weapons and drugs have been nabbed, with cryptocurrencies emerging as a favored monetary tool by the criminals.

In a separate press release, the DoJ announced the success of Operation Dark Gold, saying that the time to expose and stop dark web crime has come. The operation had led to the seizure of nearly 2000 Bitcoins. Other seized assets include cash and gold bars worth more than $3.6 million, more than 100 firearms, five vehicles, computer equipment, Bitcoin mining equipment and more.

Cryptos and crime have become notoriously synonymous, with many governments citing this as the key reason they are hesitant on accepting cryptos as legal payment methods. This association is enhanced by the anonymity that cryptos offer. Bitcoin is the most notorious with crime due to its popularity, but other cryptos are picking up the pace. One of this is Monero, a privacy-focused crypto that is increasingly becoming a favorite for criminals.

The association between cryptos and the dark web was popularized by the infamous Silk Road, a pioneer in the modern dark web marketplaces. While Silk Road was later closed by the government, it had already set the tone and hundreds of other dark web marketplaces sprung up to fill the void. Over the past few years, it’s estimated that over 95% of all dark web dealings have been conducted using cryptocurrencies.

A new report released by the UK Financial Reporting Council (FRC) has reviewed the potential impact of blockchain technology on the future of corporate reporting processes, concluding that those involved with such processes “need to consider its (blockchain’s) potential disruptive impact”, according to Lexology.

The main focus of the report identified challenges which DLT might address and the degree to which blockchain might be successful. The report concluded that the growth of the technology and its increasing use would impact on those involved in corporate reporting.

The areas identified for potential impact included production, distribution and consumption. The report added that cost and lack of standardization of blockchain could be inhibiting factors in corporate reporting going forward.

Regarding production, the report found that these issues might be significant and it was argued whether blockchain transaction might improve accounting recording systems.

Distribution was regarded as a key factor discussing current issues with transportation and it was thought that the European Financial Transparency Gateway – a blockchain European cooperate reporting platform – might be considered as a way of tracking through a single source, offering up-to-the-moment reporting across the board.

In terms of consumption, the report found that “blockchain might help to rethink the way that reporting content is defined”, and went on to suggest that, although blockchain looked like it was here to stay, its implementation would be gradual and restricted to “certain use-cases”.

The cost of blockchain and ease of its use in its implementation in corporate reporting seemed to be the main stumbling block in giving DLT carte blanche as the ultimate reporting tool, but the FRC acknowledged that blockchain could offer “a single source of credible, usable corporate data across Europe”.

The report finally suggested a cautionary mode in all things blockchain, with regulators becoming involved in the corporate reporting system and the development of a blockchain forum, which would be a space for participants to discuss ideas, risks and opportunities of blockchain technology and how it applies to this sector.

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Key Highlights

• Ethereum classic price is trading nicely above the $14.25 support area against the US dollar.
• There is a major bearish trend line formed with resistance at $15.60 on the hourly chart of the ETC/USD pair (Data feed via Kraken).
• The pair has to clear the $15.60 and $16.00 resistance levels to gain upside momentum in the near term.

Ethereum classic price is slowly moving in a positive zone against the US Dollar and Bitcoin. ETC/USD could accelerate gains above $16.00 if buyers gain control.

Ethereum Classic Price Resistance

There was a decent upside move in ETC price above the $14.25 and $15.00 resistance levels against the US dollar. The ETC/USD pair traded close to the $16.00 resistance, which prevented further gains. There were a couple of attempts by buyers to break $16.00, but they failed. As a result, the price declined and moved below $15.00. There was a break below the 38.2% Fib retracement level of the last wave from the $13.21 low to $16.03 high.

The price also cleared the 100 hourly simple moving average, but it found support near $14.25. Moreover, the 61.8% Fib retracement level of the last wave from the $13.21 low to $16.03 high also provided support. ETC price bounced back and is currently trading above $15.00 and the 100 hourly SMA. On the upside, there is a major bearish trend line formed with resistance at $15.60 on the hourly chart of the ETC/USD pair. Above the trend line, the most important hurdle for buyers is near the $16.00 level.

The chart suggests that the price is slowly moving into a positive zone above $15.00. However, it must clear the $15.60 and $16.00 resistances to gain traction. On the downside, supports are seen near $14.60 and $14.25 levels.

Hourly MACD – The MACD for ETC/USD is currently flat in the bullish zone.

Hourly RSI – The RSI for ETC/USD is holding the 50 level with positive signs.

Major Support Level – $14.25

Major Resistance Level – $16.00

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