Day: September 5, 2018

Friend Software is a Norwegian company founded in 2014 and is the company behind Friend – TheInternet OS. Friend isan new open source operating system software that provides users with full control over their data and gives them easy access to it from any device via any browser (e.g operated on TVs, palmtops, laptops, desktops etc.)

The Friend Workspace is essentially a Desktop-as-a-Service (DaaS) and a Platform-as-a-Service (PaaS) -all in one. It enables the users to access the entire network via their desktop or smartphones. The Workspace can be further optimized for new applications, disks, and services from the Friend Store market places.

Friend allows users to gain unified access and control over their, applications, data and computing resourceswithout relying on an particular centralized corporate network or “big corporate” licenses.

Friend Cloud Computer

Friend empowers the users by giving access to a unified multitasking workspace accessed via any browser.  Using Friend, the user has access to a robust network (The Friend Network) where she or he can connect and combine a vast range of blockchain-powered applications available in the Friend Store market place.  Friend can combine any blockchain technology with conventional software, services and resources – all in the same user experience.

Friend is an autonomous Cloud Computer that is entirely controlled by its users. By acquiring the Friend Network Token (FRND), users can share resources, exchange data, run applications, etc., hence increasing the accessibility, freedom and versatility of use whilst lowering the computing costs.

The Friend ecosystem is a vast and decentralized network of services and resources. It is a platform where members can participate within their computing power, bandwidth and storage space to develop a user-owned infrastructure, where digital independence and privacy is central. This network allows users to create a personal virtual computer that is available anytime and anywhere, from any device.

Faster and More Effective Application Development

Friend has been designed to provide a one-of-kind experience to developers that they don’t get elsewhere. Firstly, it is the only platform that offers a true “write once, run anywhere” service. Once the application is developed in the Friend network, it can efficiently run on iOS, Linux, Mac, Windows, and Android devices. Additionally, it allows developers to benefit from decentralized technologies such as Ethereum. By setting up easy to understand APIs and cross-integration structures, Friend enables fast transition to  web 4.0 and 5.0 for everyone.

[fyi see below]

The ecosystem has a decentralized network of Friend nodes that respond to standardized RESTful APIS for all essential functionalities. This enables developers to garner predictable results while shifting their app from a local test network to the global Friend network. Moreover, by eliminating the need for expensive infrastructure and prohibitive license agreements, the platform allows developers to test, debug and collaborate the projects without any hassle. It offers a multi-user enabled integrated development environment that allows developers to form their team and network of trusted private resources on the Friend ecosystem.

Fast and Seamless Global Deployment

Friend Network incorporates decentralized kernel nodes, also known as Friend Cores, and application requests are processed through these nodes or cores in the grid. This implies that apps can run on the node network that allows users from across the globe to experience faster response time on servers near them. Furthermore, due to client-side encryption, private information is encrypted while in transit and at rest, thus ensuring optimum security and preservation of a user’s digital property.

Data Control and Security

Friend allows developers to select a storage provider according to their preference. Other than its built-in storage space, the platform gives users the opportunity to connect with distinct services like Google Drive, Dropbox, IPDB, IPFS, Fluence, Golem etc. Moreover, it uses client-side encryption for maximum security and allows encrypting data at rest using file system drivers.

Friend is an exceptional personal computer revolution developed to provide unified operating systems to users globally. It is a Unifying Platform. By placing data control in the hands of the users, Friend is working its way towards conferring digital independence. This will increase the information usability and minimize the risk of data abuse.  

Friend will change the way people understand and use computers.

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

At a recent EU ICO regulation event, Aeternity’s global communications expert claimed that the only way to stop an ICO is by banning crypto exchanges

The Philippine Securities and Exchange Commission (SEC) has said that more cryptocurrency exchanges could be given the green light to operate in the country as early as the end of next week.

The development follows news that the nation is also in the process of developing its policy on initial coin offering (ICO) fundraising.

Both ICO and Virtual Currency Exchange Regulation Under Philippine SEC Scrutiny

The Philippine’s SEC is in the process of drafting rules regarding cryptocurrency trading platforms.

According to a report in domestic news source The Manila Times, the SEC Commissioner stated that the new regulations would be available by the end of next week. Ephyro Luis Amatong said that it was vital that trading platforms were regulated owing to the SEC’s role as public protector.

The Commissioner went on to say that the rules governing exchanges elsewhere could be used as templates for the Philippine regulations. Amatong cited Australia and Switzerland as examples.

He added that the financial regulators were joining forces with Bangko Sentral ng Pilipinas (BSP)  – the nation’s central bank – to regulate the exchange platforms:

“We already discussed the matter with the BSP since the BSP is also interested and we are also interested. The discussion … [involves] joint cooperative oversight over virtual currency exchanges engaged in trading.”

Previously, those wishing to offer trading services to the people of the Philippines have been approaching the BSP with their applications. So far, only Rebittance, Inc. and Betur, Inc. have received BSP licenses.

The Philippine’s government also stands to gain from the forthcoming regulatory changes.

A report from Money Control claims that they are expecting to earn around $67 million from the issuance of virtual currency exchange licenses. A senior deputy administrator at the regulatory body told the publication that the government of the Philippines Cagayan Special Economic Zone will be charging $360,000 for a principal license and $85,000 for a regular one.

In other Philippine news, the SEC released proposed rules about ICOs last month. These will include obligations to register as a corporation, have a branch in the Philippines, and to gain approval from the SEC about the nature of the business as well as the purpose of the tokens being offered.

The final version of the ICO guidelines is expected to be released at some point next week. The SEC is currently mulling over public comments on the proposed regulations. Meanwhile, the rules concerning virtual currency exchanges are expected on an undisclosed day later next week.

Featured image from Shutterstock.

The post Philippine Lawmakers Plan to Publish Crypto Exchange Regulations Next Week appeared first on NewsBTC.

UK’s Financial Conduct Authority (FCA) has issued a stern warning to two Bitcoin investment firms; Local Bitcoin and BK Coin, two companies that are alleged to be owned and operated by the same group. According to the FCA, the two cryptocurrency firms were offering crypto investment services without authorization. Although Local Bitcoin claims that it has been operating in accordance with EU regulations, the FCA stressed that the firms were giving out false details and they are not licensed to offer financial services in the UK. Investors were also warned to carry out adequate research before investing in any firm to minimize fraud cases.

Enforcing The Law

Both Local Bitcoin and BK Coin have been providing a broad spectrum of cryptocurrency investment services to their UK customers. The two companies have also managed to attract many investors; Local Bitcoin alleges to have more than 260,000 active users in 50 countries and processing over 125,000 transactions. The firm, which claims to be headquartered in Northumberland, has a peculiarly similar name to that of the popular peer-to-peer trading platform localbitcoins.com but has no affiliation. On the other hand, BK Coin claims that it’s based in London. Since they share the same management, BK Coin has an oddly similar logo and user interface with that of Local Bitcoin Ltd. The only difference is that the Local Bitcoin Ltd website was launched in March 2018, while BK Coin’s website was launched three months prior in January 2018.

The FCA warned users who had trusted the firms with their investments that they might not recover their investment. The body added that neither the Financial Services Compensation Scheme nor the Financial Ombudsman Service will compensate for the investments made through a shady broker or an unauthorized firm. This is because despite similar cases having been reported severally in the past, many investors still lose their money to the scams.

FCA warnings on both Local Bitcoin Ltd and BK Coin come hot on the heels of its recently issued warning against Blackrock Crypto Asset Management Limited and Good Crypto. The two companies were operating clone firms without any affiliation to the registered and recognized firms. Despite Blackrock Crypto Asset Management Limited having a website and a physical address, the UK financial regulator said that the company’s details may be false or mixed with details of the FCA-authorized Blackrock Investment Management (UK) Limited.

In the same vein, on June 11, the FCA issued a warning to all banks and financial institutions on the several transactions risks their institutions are exposed to by the use of cryptos. The regulatory body urged banks to enhance their scrutiny measures to clients who invest in ICOs or trade cryptocurrencies. In this warning, the financial institution leaders were instructed to come up with policies and procedures to be followed by all the clients they serve and also to keep proper records for future reference in case anything goes wrong. To reduce the chances of crypto fraudsters using their financial institutions to conduct illegal activities, the banking leaders were advised to educate their staff on the risks associated with cryptos as well as collect information on the “adequacy of those clients’ own due diligence arrangements.”

This article originally appeared on Bitcoin Magazine.

The end of 2018 should see Apex Clearing offer clients cryptocurrency access

Cointelegraph

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, IOTA: Price Analysis, September 5 Cointelegraph Barring Stellar and Bitcoin, each one is down by more than 7 percent. When an asset class enters a protracted bear phase, such falls are to be expected because the sentiment is brittle and any adverse news can cause panic among the traders. The ...

The market has lost $12 billion in capitalization in mere hours, following news of Goldman Sachs halting its plans for a crypto trading desk. What should the traders do in such dire circumstances?

This article originally appeared on Bitcoin Magazine.

This article originally appeared on Bitcoin Magazine.

Binance is looking at Africa as the next frontier of growth, an executive at the world’s largest crypto exchange by daily trading volume has revealed. Benjamin Rameau, the Director of Binance Labs revealed the company’s reasons behind setting out to conquer Africa, with the relative underdevelopment in the continent and the great diversity being among the key ones. Through a blog post, Rameau stated that while decentralization has the capacity to unlock a lot of potential in the developed world, Africa is the continent that could experience a revolution as its financial services networks have a very low adoption rate.  

The African Revolution

Rameau listed ten reasons that have led Binance to focus on Africa, the first of which is the contrarian spirit. Citing the unprecedented growth that Asia underwent in the 60’s and 70’s despite many people dismissing it, he expressed his belief that Africa is at a similar point and that it’s those that have a contrarian outlook that will take the most advantage of this.

Africa’s population of 1.2 Billion people is largely underbanked, with only 43 percent of the population in Sub-Saharan Africa having a bank account against the global average of 69 percent. The proportion is even lower in some areas such as South Sudan where it stands at 9 percent. This makes the continent a prime destination for decentralized applications which can provide access to financial services for hundreds of millions of Africans.

Rameau, who leads Binance’s startup incubator, also cited the poor governance in many African countries for the stagnating growth. Blockchain technology can circumvent the political elite and bring together economically aligned people, he explained stating:

Blockchain technology can allow large people to work together through aligned economic incentives where they can participate in their own governance codes. The parameters controlling a DAO can be decided by the token holders, for the token holders. These organizations will no longer be dependent on the whims of a politician.

Africa’s huge proportion of young people will also accelerate the pace of blockchain adoption, Rameau continued. Citing Ethiopia as an example, he stated that with a median age of 17.9 years, it’s a reflection of the majority of the other African states whose population is predominantly young and would thus quickly embrace blockchain technology.

Binance Labs is just as African as it is European, Rameau concluded. Being a decentralized organization, Binance Labs has “no headquarters, no office and no geographical boundaries,” he stated. He expressed the commitment of Binance Labs to investing in Africa, inviting any applicants from Africa whose projects were making the world a better place to submit their applications for consideration.

With its mission being “to solve the problems that matter most to the ecosystem and change the world for the better,” Binance Labs invests in and incubates blockchain projects. Led by ex-Google and Tencent luminary Ella Zhang, it has invested in a number of startups including privacy-focused payments network MobileCoin, decentralized crowdfunding platform Republic and decentralized cloud computing platform Oasis Labs. Binance Labs is also the administrator of Binance’s Ecosystem Fund, a one-billion-dollar fund which has partnered with 20 initial partners to invest in blockchain startups

 

At press time, the father of crypto is down to about $6,900. This is roughly $300 less than where it’s been over the past few days. Recently, bitcoin had struck the $7,200 mark, giving everyone the impression that bullish indicators were forming on the technical charts and bitcoin was once again on its way to the top.

Now, it appears the currency has fallen back a bit. One source is warning of a potential bull trap, which occurred last January. Bitcoin began climbing the financial ladder and eventually reached a price of roughly $8,500, only to fall back below the psychological support level of $6,000. The charts still show bullish trends as occurring long-term, though the warning hasn’t dissipated completely.

Bitcoin is not alone in its descent. Many major altcoins and tokens have taken a fall alongside their “master,” the worst case being Ethereum. Previously, the currency was trading close to the $300 mark, though at the time of writing, ether tokens have fallen by over 15 percent, and one coin is now worth approximately $241. Bitcoin cash is also down to roughly $527, while Ripple’s XRP is at 28 cents. Lastly, Litecoin has fallen below the $60 line and is now trading for about $58.

Many analysts now believe November will be the ultimate month for bitcoin. One of the big reasons is that this is the time when Bakkt – the digital currency platform launched by the Intercontinental Exchange (ICE) first announced last July – is set to debut. In addition, an ETF will be launched under Bakkt designed to facilitate an ecosystem for both warehousing and federally regulated markets.

In a blog post, Bakkt CEO Kelly Loeffler explains:

“Our new daily bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement.”

Following its release, figures such as Hermann Finnbjornsson – founder and chief executive of bitcoin and crypto firm Svandis – believe that bitcoin will likely hit the five-figure range once again. In a recent interview, he comments:

“I believe that [the bitcoin price]will hit $10,000 by the first week of November. I think that there are a lot of reasons to be bullish on bitcoin. [There’s] less than a one percent chance in my mind that bitcoin won’t succeed.”

Bitcoin Charts by TradingView

New trading rules and regulations for cryptocurrency exchanges in the Philippines will soon be released by the nation’s Security and Exchange Commission (SEC).

Finalized rules

Over the past few months, media coverage of blockchain developments in the Philippines has been emerging at a steady and positive pace. Most recently, local news outlet The Manila Times reported that the SEC Commissioner Ephyro Luis Amatong had revealed that the new rules are going to be published “by the end of next week”.

He added that the Virtual Currency Exchange (VCE) rules of Australia and Switzerland were being examined as potential templates for the regulations. Furthermore, the SEC will be partnering with Philippine central bank Bangko Sentral ng Pilipinas (BSP), in order to develop and enforce VCE regulations.

Amatong Said, “We see the need to regulate them as trading platforms,” adding, “We already discussed the matter with the BSP since the BSP is also interested and we are also interested. The discussion… [involves] joint cooperative oversight over VCEs engaged in trading.”

Earlier developments

In May, the SEC reached out to its domestic cryptocurrency community seeking counsel and feedback regarding cryptocurrency trading regulations. At this time, Amatong told stakeholders that the government wishes to be proactive in their approach, and desired appropriate rules to be generated from discussion and feedback, saying at the time, “We don’t want to ban anything just because we don’t understand something.”

Earlier this year in April, ten cryptocurrency exchanges and blockchain enterprises were licensed to operate in the Cagayan Economic Zone, one of a number of Special Economic Zones (SEZs) that have been in place since the 1990’s to promote investment and attract foreign investment; the exchanges from Japan, Hong Kong, Malaysia and South Korea had been officially permitted to enter into crypto mining, initial coin offerings (ICOs) or operate as exchanges.

By July, efforts to introduce blockchain innovation and enterprise on a larger scale were beginning to come to fruition. The Cagayan Economic Zone Authority had revealed that it was drafting regulations that allowed for a maximum of 25 cryptocurrency companies to be granted the license to operate in the SEZ.

Also within this SEZ, there are plans to build a blockchain and fintech university on site, which is a display of confidence in the technology on part of the government. Furthermore, it was reported that numerous government-level organizations such as the Department of Finance (DoF) and SEC were beginning to implement blockchain solutions.

Most recently, the SEC released a 37-page draft ICO regulation report after consulting with numerous domestic cryptocurrency companies; this draft will be soon taking its final form and will be telling of the future role of the Philippines in the global blockchain community.

 

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Former crypto lawyer and ICO advisor Julian Zegelman on why he compares ICO investing to “a relationship with a bipolar person”