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wangjheretonight

Bitpush Column · 168 articles

Zhao Changpeng on the future of blockchain

According to Fortune magazine, Zhao Changpeng is a down-to-earth crypto billionaire. Binance, which became the world's largest cryptocurrency exchange last year, did not brag or make big statements about it. Zhao Changpeng is quietly focusing on building a blockchain empire that can rebuild the world's financial system. In an interview with “Fortune” magazine, he shared some important ideas about the future of Binance and cryptocurrencies. According to him, most blockchain predictions may end up being wrong. Still, many people are curious to know what he thinks will happen next. Here are three opinions compiled by Fortune magazine during an interview with Zhao Changpeng. The future is decentralized, but it will take a while to arrive Binance announced its first acquisition in the form of a TrustWallet this week. TrustWallet is a wallet application that can also be used as a browser for decentralized applications (dApps). This move is actually a bet on Binance, which believes more people will start using decentralized services. Decentralized services provide more privacy because they don't rely on servers controlled by any single organization. Zhao Changpeng acknowledged that although the number of dApps has surged in the past two years. The most famous example is the collection site Crypto-Kitties, in reality, dApps are rarely used, partly because the user interface is very clumsy. “It's still in the early stages of DApps. Most are just proof of concept or simple games,” he said, “but that may change soon.” By 2020, Changpeng Zhao said we'll see people using blockchain-based information, games, social networks, and rating systems more widely. He anticipates that the next stage will be e-commerce. Meanwhile, Binance is building a decentralized financial system at full speed. This isn't a new idea; it was Bitcoin's original idea. Binance has taken aggressive steps to expand Bitcoin. For example, Binance cooperated with the Maltese nation to establish a global decentralized community bank. Changpeng Zhao also said that Binance is building its own blockchain to promote decentralized cryptocurrency exchanges. Popular blockchains are under threat The Ethereum blockchain is now “in charge” of hosting dApps and defining standards. However, attractive rivals — Tezos, Eos, and Dfinity in particular — think they can replace Ethereum by providing a faster and more efficient protocol. Who will be the winner? What surprised Fortune magazine was that Zhao Changpeng thought the current contenders were unprepared for long-term success because they were too slow. Although this criticism has been used for Ethereum for a long time, Zhao Changpeng said that any blockchain designed for general smart contracts won't be fast. Instead, he believes that existing blockchains will give way to more specialized blockchains. Changpeng Zhao cites new tools like Komodo and Tendermint that can write blockchains for specific purposes. This indicates that the future will consist of numerous custom ledgers. According to “Fortune” magazine, Zhao Changpeng seems to suggest that blockchain will develop in the form of chips. Among them, customized ASIC (“special purpose integrated circuit”) chips have become dominant in general computers. The “cake” of the cryptocurrency market is big enough “Fortune” magazine said that during interviews, Zhao Changpeng was always very polite and was also happy to talk about the idea of a big blockchain. So the friendly relationship between Binance and Coinbase isn't really surprising. Zhao Changpeng said that Binance claimed profits of 500 million to 1 billion US dollars last year and did not want to challenge Coinbase in places like the US. “In developed markets, there is more capital to be done, but more regulation and competition are already saturated,” he said. “We don't want to compete with Coinbase and Gemini.” He added that he preferred to do business in places like Malta, where he can work directly with heads of state to promote the ideals of a decentralized financial system. In the interview, Zhao Changpeng didn't know much about the market share dispute between Uber and Lyft. Zhao Changpeng only said that Coinbase appreciates Binance's foundational work in Malta, while Binance also thanks Coinbase for its work in helping US lawmakers understand crypto. “We have a very good relationship with Coinbase,” he said. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Zhao Changpeng on the future of blockchain

The future of blockchain and its potential impact on the world

According to Forbes, at this year's CoinDesk Consensus 2018 meeting, Jeff Lubin (Jeff Lubin), the founder of Ethereum company Consensys, agreed to bet with blockchain capital Jimmy Song on “any amount of Bitcoin,” that is, within five years, blockchain will have many working applications that provide services to real users. This might be a bet worth checking out. Some of the world's biggest companies have invested hundreds of millions of dollars into the future of blockchain. Barclays's accelerator project is a 13-week startup program organized by one of the world's largest banks, providing space and funding for many blockchain-based fintech companies. Companies working on blockchain-based services include IBM, which is trying to build tracking tools for shipping companies and retail chains. Eastman Kodak (Eastman Kodak) is experimenting with blockchain to create a repository of inventory images. Spotify also wants to use blockchain to manage copyright. Investors in blockchain projects include Peter Thiel, Sequoia Capital, and Andreessen Horowitz, as well as Google, Goldman Sachs, Visa, and Deloitte. All of these companies and experts are investing millions of dollars, and distributed ledgers can do things that other forms of technology can't. They may be wasting their money and time, but not all of it. Critics like Song tend to believe that much of what blockchain-based products do can be done without blockchain. Distributed ledgers may help keep track of items flowing through the sharing economy, such as apartments, boats, and bikes, but companies like Airbnb, Uber, and City Bikes only need apps and barcodes. Triple-signed receipts are easier to implement and enable the same security guarantees as distributed ledgers with public key encryption, proof of work, and network and database technology. Blockchain can replace escrow services, but will it be cheaper, more secure, and easier to use than a bank account (or a trusted third party)? Using blockchain can also eliminate the versatility of startups. It will take a long time for new Silicon Valley companies to sell the minimum viable product before the seed funding ends. They improve these products, match them to the audience, and show venture capitalists that they are on the right track. They can actually create something that people will pay to use in order to earn enough money to reach the next milestone. However, businesses that use ICOs to raise large amounts of capital may be more like investment banks. They started with a lot of money and slowly developed their product, and if it were really scattered, they couldn't change it when it hit the market. Blockchain could slow them down. The arguments are fair, and they are also familiar to those who have seen the early days of the internet. At the end of the 90s, you could set up a company selling elephant underwear. As long as you called it an “internet business,” someone would give you a large sum of money, and believe that both you and him would become rich as a result. Also, there will be many people willing to tell you that they are crazy. The whole “internet” thing is overrated and will soon disappear. Obviously, this didn't happen. Many businesses, those that have never had a real product or proper service, will uncover their original form when the financial wave wears off. But some companies do survive, and those that survive will thrive. Amazon is a multi-billion dollar business. The same goes for Google, eBay, and PayPal. They are all able to create products that others want to use on the web, and they can turn that use into revenue. None of these businesses would exist without a network. This is exactly what is happening right now. No one knows when Google started destroying Alta Vista and eating Yahoo. No one knows that eBay will overshadow OnSale, or Facebook will kill Friendster. Investors certainly don't know, and this is why they are diversifying their capital, hoping that part of it can be invested in real products in a new market environment. Blockchain is perfect for tracking currencies and preventing fraud. We don't know what other benefits it has. Until the developers finish their work, we don't know if it will become the foundational technology behind the sharing economy, or if it will only power banking services and make transactions convenient...

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The future of blockchain and its potential impact on the world

Thailand allows banks to open subsidiaries for crypto transactions

According to Cointelegraph, Blognone, a Thai insider, said on August 3 that the Bank of Thailand (BoT) recently allowed local banks to set up subsidiaries to handle cryptocurrencies. According to the regulatory announcement issued by BoT on August 1, the Bank of Thailand can now issue digital tokens, provide crypto brokerage services, operate crypto-related businesses, and invest in cryptocurrencies through subsidiaries. However, recent announcements have reiterated that all banks and other financial institutions are still prohibited from directly handling cryptocurrencies. While banks are now allowed to establish crypto branches, these branches are prohibited from providing crypto-related services to their customers and the public, and can only interact with other businesses approved by the Thai Securities and Exchange Commission (Thai SEC) and the Insurance Commission (OIC). Blognone wrote that subsidiaries are also prohibited from providing crypto-related services to individuals. As long as customers don't want to invest in digital assets for “financial innovation” or expanding the quality of financial services, then subsidiaries can provide customers with investment resources, in which case they can use the BoT regulatory sandbox, Blognone also pointed out. Earlier this year, BoT issued a notice prohibiting banking institutions in Thailand from investing in and trading crypto, as well as participating in the establishment of crypto exchanges. According to reports, the exchange is legal to register in the country. The Bank of Thailand also requires banks not to advise individuals on crypto investments or transactions, and prohibits customers from using credit cards to make crypto purchases. In May, the Thai government released a regulatory framework defining cryptocurrencies as “digital assets and digital tokens” and placing them under the supervision of the Thai Securities and Exchange Commission. In early June, BoT revealed that it was considering providing a “new way to conduct interbank settlements” by using a digital currency (CBDC) issued by the central bank. According to the bank, adopting one's own cryptocurrency can reduce transaction costs while reducing transaction and verification times, “because fewer intermediary processes are required compared to existing systems.” In early July, the Thai government enacted initial coin offering (ICO) regulations, becoming one of the first jurisdictions in the world to allow ICOs to operate in a fully regulated environment. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Thailand allows banks to open subsidiaries for crypto transactions

Cryptocurrency theft has tripled

According to Bloomberg, a new report shows that criminals are stealing more cryptocurrencies from exchanges. CipherTrace said in its initial quarterly report that in the first half of this year, more than $760 million in cryptocurrencies were stolen from exchanges, which is almost three times that of the whole of 2017. CipherTrace, a blockchain security company headquartered in Menlo Park, California, has partnered with over 40 companies and governments to track crypto transactions. According to CoinMarketCap.com data, the current market capitalization of the top 100 cryptocurrencies is around $270 billion. CipherTrace said that services that can clean up “black money” are widely available, and some are even advertised through Google AdWords. “There are so many cryptocurrencies now, they are worth the money, and there are so many exchanges around the world that can be cashed out. We're not only seeing traditional cyber gangs, but also a new group of criminals entering this space,” CEO David Jevans said in a phone interview. “This overall market expansion has created a new generation of cyber criminals that didn't exist 15 months ago.” There are over 1,600 cryptocurrencies, and tracking them is becoming increasingly difficult, which makes it convenient for criminals. Regulators say many exchanges and startups are issuing new tokens without checking customer identities to confirm that users have not laundered money. Users also usually display an anonymous address when buying and selling tokens. At the same time, many exchanges, as well as new ones, have security flaws. However, once a cryptocurrency is stolen, it is often impossible to return it to the user, nor can the thief be traced. “It's much easier than robbing a bank,” Jevins said. Global regulators are likely to crack down on crypto money laundering activities, Jevins said. This may be beneficial to investors, but some tokens may suffer losses. “Exchanges are likely to kick out some smaller tokens because it's difficult to track transactions,” he said. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Cryptocurrency theft has tripled

Bithumb reopens access and now supports nine types of encryption

According to Cointelegraph, South Korea's leading virtual currency exchange Bithumb made an official statement on August 4 that it will reopen withdrawals and deposits today. Bithumb is the world's 12th largest cryptocurrency exchange based on trade volume, and it indicated that the time to resume withdrawals and deposits has been extended from 11 a.m. to 7 p.m. on August 4. (Korea Standard Time) Bithumb said in a separate post that this is the first time it has reopened withdrawal and deposit services for 9 altcoins, adding that the reason for the slight delay in launching the service was to “provide a more stable service environment.” At the end of June, hackers reportedly stole $30 million in passwords from Bithumb, prompting the exchange to temporarily suspend all deposits and payments. Bithumb later revised that due to “the continued participation, support, and cooperation of global cryptocurrency exchanges and cryptocurrency foundations,” the amount of hacker theft was actually lower than previously estimated — around $17 million. According to CoinMarketCap data, Bithumb ranked 12th in adjusted trading volume. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Bithumb reopens access and now supports nine types of encryption

CoinMarketCap Says Crypto Data Rises Due to Data Failures

On Friday, CoinMarketCap “data issues” triggered artificial inflation for several cryptocurrencies listed on the platform, with some prices rising by nearly 1000%. While the price of Bitcoin surged 12% on crypto data sites, other coins have seen even greater gains. The price of the eighth-largest cryptocurrency, aeternity, increased by more than 951%, while MOAC increased 905% and Bitcoin Diamond increased by 876% on the site. The site's exchange tracking feature was also affected and erroneously indicated that Bitcoin was trading above $73,000 on some exchanges. While Crypto Twitter speculates that there is potential price manipulation, loopholes, and hacking, CoinMarketCap told CoinDesk that inflation was caused by data errors. Carylyne Chan, vice president of marketing, said in an email that “miscalculation of the price caused Tether to become artificially inflated.” Although most of the data appears to have returned to normal at the time of publication, VeChain's VET token's 24-hour percentages are still not visible, and the price chart cannot be viewed on the homepage. The VeChain page also doesn't list historical data. The popular analytics platform promises to publish a “report” with more details in the near future. This data error occurred two days after CoinMarketCap launched a new professional-grade and fee-based API. CoinMarketCap updated the exchange ranking page and added a derivatives market to the website. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting

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CoinMarketCap Says Crypto Data Rises Due to Data Failures

Ethereum will get its first top-level domain

Ethereum Name Service (ENS) will partner with Minds+ Machines Group (MMX), which owns and operates a “top-level domain” in the Internet's Domain Name System (DNS). The Ethereum Name Service (ENS) is similar to the Internet's Domain Name Service (DNS). It provides people with readable names to identify addresses on the Ethereum network. The new partnership will soon enable Ethereum users to attach their addresses to top-level internet domains, making it easier to remember identifiers associated with assets, wallets, and services. The partnership was announced on Friday, meaning that Ethereum users will be able to register an address on MMX's .luxe domain. The domain.luxe also stands for “making it easy for you to convert”, providing customers with a more convenient way to access blockchain assets and services (such as dapps and smart contracts). Similarly, MMX said the.luxe domain would allow “the resolution of email or any web-based traffic over the internet,” enabling users to conduct “traditional internet activities” using the same addresses as Ethereum assets and services. “We are very excited to help facilitate integration between existing DNS-based name services and Ethereum name services to improve the usability of blockchain applications,” Nick Johnson, lead developer at ENS, said in a statement. In an email, he added that “native” blockchain-enabled.luxe domains will provide Ethereum users with “more choices for domain names and trust models,” and that this partnership “improves the way the traditional DNS space is integrated with blockchain technology.” Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Ethereum will get its first top-level domain

Bithumb's trading volume drops 40% after suspending user registrations

Within three days of Bithumb exchange suspending user registration, the cryptocurrency exchange's trading volume dropped by 40%. South Korea's Bithumb exchange was attacked once in June. It said in a July 31 blog post that it will suspend the opening of new accounts from August 1 due to the ongoing “service improvement process.” Although the exchange did not provide further details on the reason for the suspension, a report from Korea Commerce on Tuesday said banking sources said that the exchange was forced to be suspended because its banking partner NH Nonghyup Bank had yet to sign Bithumb's contract following the hacker attack. According to CoinMarketCap data, Bithumb's 24-hour trading volume on Tuesday was around $350 million. However, over the past three days, trading volume has dropped to around $200 million (as of Friday's release time), a drop of more than 40%. The exchange did not respond to CoinDesk's request for comment on declining trading volume and banking issues. Despite suspending the opening of new accounts, Bithumb said that a virtual account already linked to an identity — which is actually linked to an exchange bank account — can still be used for deposit and withdrawal services. Bithumb said it had reached a “consensus” with Nonghyup Bank on contract renewal and “is planning to resolve disagreements over certain legal terms and re-open virtual accounts soon.” If no final agreement is reached, the Korean business report Bithumb can still collect customer deposits and withdrawals through so-called “hive accounts,” although this option is less convenient for users. In addition to the negative news, the exchange announced on Thursday that it will resume deposits and withdrawals of 10 cryptocurrencies this Saturday, including Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). The platform said the move will occur after completing security checks and improvements. South Korean regulators require the use of “real-name virtual accounts” by the end of January due to concerns that allowing anonymous accounts would present a greater risk of money laundering. South Korea is also further regulating crypto exchanges after a series of recent hacking attacks and other issues, and some new laws are being prepared. On July 26, a Financial Services Commission executive called on politicians to pass a bill regulating cryptocurrency transactions “as soon as possible.” Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Bithumb's trading volume drops 40% after suspending user registrations

Dutch central bank believes cryptocurrencies are not real “money”

According to Dutch News Network on August 3, an executive at the Dutch Central Bank said that although cryptocurrencies are not “real money,” the bank has no plans to ban them. Petra Hielkema, head of the Dutch central banking department, told Dutch News that due to the volatile and risky nature of cryptocurrencies, it cannot be considered money. “If you want to think of anything as money, you have to be able to spend money, save it, and use it to calculate [...] We don't think cryptocurrencies are that kind of money.” Hielkema also pointed out that the bank has been experimenting with blockchain technology for the past three years and has developed four prototypes. Although Hielkema added that blockchain is not ready to be implemented in the Dutch payment system, there are “possibilities” for more innovation in the future. This summer, the Dutch Financial Markets Authority (AFM) also highlighted the “risks” associated with cryptocurrencies and indicated that they had “serious doubts related to encryption and cryptographic management.” In June of this year, the Bank of Finland released a document stating that the concept of digital currency is called a “fallacy” and should not be treated as “real money.” Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Dutch central bank believes cryptocurrencies are not real “money”

Today's Market Overview: Crypto Market Continues to Decline

The crypto market continued to decline on Thursday, August 2nd. The top 100 cryptocurrencies showed a decline, while the top 10 cryptocurrencies, with the exception of Tether (USDT), almost all held a 3% to 10% decline. Bitcoin (BTC) has still not improved and is currently in a slight decline. At press time, the top cryptocurrency was trading again at $7417.25, down 3.35% on the same day. Ethereum (ETH) is also still falling and has now reached around $400. At press time, Ethereum (ETH) was trading at $405.38, down 4.44% on the day. ADA-Cardano (ADA) had the biggest drop among the top 10 cryptocurrencies. At press time, the coin was trading at $0.13, down 10.46% on the same day. Among the top 100 cryptocurrencies, WAVES (WAVES) is the cryptocurrency with the biggest decline. The drop was over 15% on the day. At press time, the coin was trading at $1.79, down 21.34% on the same day, and currently ranks 52nd. The total market value is currently about 262.2 billion US dollars, down about 12.5 billion US dollars from the same period yesterday. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Today's Market Overview: Crypto Market Continues to Decline

Financial Times: Sharps has resigned from OpenBRIX and AppG

The Financial Times reported on August 1 that a British Conservative MP was secretly profiting from a blockchain startup. This congressman, named Grant Shapps (Grant Shapps), has now resigned from the company. Grant Shapps (Grant Shapps), the former chairman of the Conservative Party, resigned after a bullying scandal broke out in 2015. This week he resigned from the governance chair of the blockchain property portal OpenBRIX, as well as co-chairman of the UK All-Party Parliamentary Group (APPG) on blockchain. According to the Financial Times, Sharps established the blockchain APPG with another Conservative MP last year. Allegedly, the Financial Times discovered that Sharps could obtain “hundreds of thousands of pounds” worth of digital tokens before OpenBRIX's initial coin offering (ICO). As a result, Sharps then resigned from his post and stated that he was a “person who did not receive benefits” when registering the financial benefits received by members of parliament. The Financial Times's conversation with OpenBrix's co-founder and CEO Shahad Choudhury revealed that Sharps has signed a consulting contract with the startup and is entitled to a token distribution “roughly equivalent” to the OpenBrix co-founder — 8 million BRIX tokens. According to reports, each BRIX token is worth 0.001 Ethereum (ETH), and the current exchange rate is around £2.8 million ($3.7 million). The Financial Times's coverage of the case highlights a “commercial and political intersection” in the UK Parliament and notes that blockchain AppG has invited another OpenBrix co-founder as a permanent cross-party “expert advisor.” According to an investigation by the Financial Times, Sharps chose to announce his “no benefit” position, allegedly because Sharps's “registrar” “notified” him to do so. As the Financial Times pursues the matter, the OpenBRIX board revised the remuneration agreement to significantly reduce or distribute the total amount of tokens issued more widely. Under the revised terms (which, according to reports, was before Sharps resigned on Tuesday) — MPs are still entitled to “at least 482,353 BRIX tokens” of around £170,000 ($222,000). Sharps is reportedly famous for his passion for crypto and blockchain. He said in his “Building the UK Blockchain” speech at a conference in June 2018 that he has been mining Ethereum in his garage. According to reports, the CEO of OpenBrix was puzzled by the congressman's double resignations and allegedly hinted that questions from the British “Financial Times” may have prompted Sharps to leave office. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Financial Times: Sharps has resigned from OpenBRIX and AppG

Overstock's Medici Land Governance (MLG) signs agreement with Zambian government to reform land ownership

According to Cointelegraph, Zambia has signed a Memorandum of Understanding (MoU) with the blockchain land registry subsidiary of US retail giant Overstock. The company revealed during a press conference on July 31. Under the agreement, Overstock's Medici Land Governance (MLG) will work with the Zambian government to reform land ownership, allow rural landowners to legalize land, and enter the financial sector. “Without formal ownership, it's difficult for individuals to access credit and public services, and the government's ability to collect taxes, enforce property rights, and plan economic expansion and innovation is limited,” the release explained. “Using blockchain and other technologies, Medici Land Governance (MLG) [...] will create a system to collect and easily protect property ownership information.” Speaking about Medici's risks, the subsidiary's CEO Dr. Ali El Husseini said its partnership with Zambia was “very important.” “[The partnership] has the potential to be a real, sustainable game-changer that can reduce poverty on a large scale and support economic development,” Dr. Husseini said. Blockchain land projects have been underway around the world in recent years, and the technology provides a promising solution to fragmented paper records and unverifiable claims. This week, Agricultural Bank of China (Agricultural Bank of China), the fourth largest asset bank in the world, confirmed that it has issued land-based blockchain loans. Despite warnings earlier this year that Overstock's share price is struggling and that future turbulence may occur, Overstock has made a number of developments in blockchain and crypto-related fields. Overstock currently has 14 companies in its Medici blockchain accelerator, and MLG is the latest addition. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Overstock's Medici Land Governance (MLG) signs agreement with Zambian government to reform land ownership

Today's Market Overview: The Crypto Market Is Still Declining

On Wednesday, August 1st, the crypto market was still falling. Not many of the top 100 cryptocurrencies held gains, while the top 10 cryptocurrencies all held a 2% to 3% decline except Tether (USDT) and Ripple (XRP). Bitcoin (BTC) is now hovering around $7,500, and at press time, the top cryptocurrency was trading at $7534.22, down 2.83% on the same day. Ethereum (ETH) is also showing a downward trend and has now reached around $420. At press time, Ethereum (ETH) was trading at $412.5, down 5.04% on the day. Ripple (XRP) is one of the top 10 cryptocurrencies holding a rise, but the increase was not significant. The increase for the day was no more than 2%. At press time, the coin was trading at $0.44, up 1.32% on the day. Among the top 100 cryptocurrencies, Populous Coin (PPT) is the cryptocurrency with the biggest increase in holdings. The increase was close to 10% for the day. At press time, the coin was trading at $5.2, up 9.68% on the same day, and currently ranked 53rd. The total market value is currently around US$271.2 billion, down about US$6.47 billion from the same period yesterday. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Today's Market Overview: The Crypto Market Is Still Declining

Cryptocurrency CFD restrictions take effect in the European Union

The “2:1 limit” set by the European Securities and Markets Authority (ESMA) will last for three months, starting August 1. The European Union (EU) enforced 2:1 restrictions on cryptocurrency contracts for differences (CFDs) on Wednesday. EU regulator European Securities and Markets Authority (ESMA) said the measure will last at least three months, with a possible renewal in November. ESMA introduced crypto restrictions to interfere more broadly with retail investors' cryptocurrency CFDs and binary options (BoS), including restrictions on CFDs and a ban on binary options. The limit contract is based on volatility. Because virtual currencies are highly volatile, the leverage limit is set at 2:1. In contrast, the setup for fiat currency CFDs is 30:1. “This pan-EU approach is the right way to protect investors. The NCAS will monitor subsequent impacts during the application process and will evaluate next steps with ESMA,” ESMA President Steven Maijoor said when the EU adopted the final restrictions in June. CFDs provide the possibility for various asset margin transactions without actually owning asset security deposits, giving investors the opportunity to obtain faster and higher profits than traditional transactions through small investments, but at the same time bear a higher risk of loss, or even a huge risk. CFDs are also becoming increasingly popular in the highly volatile crypto market, making them more risky too. ESMA's package of measures includes more provisions relating to cryptocurrency CFDs, including: 1. Margin closing rules for each account. The standard margin percentage is 50% of the minimum initial deposit; 2. Negative balance protection for each account to ensure the total loss limit for retail customers; 3. Limit incentive actions for trading CFDs; 4. Company-specific risk warnings, including loss percentage warnings in retail investor accounts with CFD providers. Since the EU legislative framework came into effect in January, ESMA has been authorized to temporarily restrict or ban CFDs and binary options. Many of the measures passed after public consultation apply to anyone who markets, distributes, or sells CFDs or binary options to retail investors (so-called MiFID II packages) who need to be authorized under EU law, such as investment companies or proprietary traders. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Cryptocurrency CFD restrictions take effect in the European Union

Former US President Bill Clinton will deliver a speech at Ripple's Fall Technology Conference

According to Cointelegraph, Ripple's July 31 blog post stated that Ripple's global payment technology conference Swell will begin this fall, and the 42nd US President Bill Clinton will deliver a keynote speech. Former President Clinton will deliver a keynote address in San Francisco on October 1, which will be presided over by President Clinton and President Obama's National Economic Council Director and Advisor Gene Sperling. Ripple's blog post notes that former President Clinton helped “usher in an era of rapid development and adoption of the Internet, shaping today's landscape,” and brought new technology to poor communities around the world Ripple pointed out that today's digital assets and blockchain technologies present the same challenges as when the Internet began in the 1990s, because both phenomena require a policy balance between risk prevention and innovation. As US regulators have begun to regulate the crypto industry more, the relationship between the crypto sector and politics is getting closer as a result. Crypto-focused companies are also getting more involved in politics. A recent document shows that major US crypto exchange Coinbase has formed its own Political Action Committee (PAC) to provide donations to support crypto activities. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Former US President Bill Clinton will deliver a speech at Ripple's Fall Technology Conference

The crypto market continues to decline, and Bitcoin is being “beaten back to its original form”

The crypto market continued to decline on Tuesday, July 31st. The top 100 cryptocurrencies showed a downward trend, while the top 10 cryptocurrencies, with the exception of Tether (USDT), held a 2% to 6% decline. Bitcoin (BTC) fell below $8,000. At press time, the trading price of the top cryptocurrency had returned to around $7,732, falling close to 5% on the same day. Ethereum (ETH) has also been falling back in succession and has now returned to around $430. At press time, Ethereum (ETH) was trading at $433.84, down 4.57% on the day. Cardano (ADA) was the biggest drop among the top 10 cryptocurrencies, with a decline of more than 5% on the day. At press time, Cardano (ADA) was trading at $0.14, down 7.33% on the day. Among the top 100 cryptocurrencies, Binance Coin (BNB), which is one of the few cryptocurrencies holding a rise, rose close to 4% on the same day. At press time, the coin was trading at $13.66, up 3.71% on the same day. The rise in Binance Coin (BNB) may be due to Binance's move to actively promote digital currency to the public by announcing the acquisition of the Ethereum wallet Trust Wallet today. The total market value is currently about 277.3 billion US dollars, down about 14.4 billion US dollars from the same period yesterday. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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The crypto market continues to decline, and Bitcoin is being “beaten back to its original form”

Binance buys Ethereum wallet Trust Wallet

According to Coindesk, cryptocurrency exchange Binance has acquired Trust Wallet, a mobile Ethereum wallet. Through this acquisition, Binance will be able to add a mobile Trust Wallet, and Trust Wallet will also be able to gain the advantages offered by Binance, including gaining access to Binance's existing user base. The founder of Binance said that although Trust Wallet has been acquired, the Trust Wallet team will continue to operate independently. Trust Wallet is compatible with Ethereum-based tokens and has features such as open source, decentralization, and anonymity. In addition to that, Trust Wallet is capable of storing more than 20,000 crypto assets. “Wallets are one of the most basic applications in the digital currency field. A safe and easy to use wallet is the key to promoting digital currency to the masses.” Binance CEO Changpeng Zhao said in a statement on the Binance website. He further told CoinDesk in an email: “We want Trust Wallet to be a standalone brand and product. It's the team's kids, and we're like godparents. In fact, we plan to move more services to Trust Wallet, such as our plan to closely integrate Trust Wallet with our decentralized exchange Binance Chain. ” Binance's original intention in purchasing Trust Wallet was that Trust Wallet would not request user data or other private information. As a result, Trust Wallet “has built a strong reputation in terms of security.” Trust Wallet founder Viktor Radchenko said that his original intention in starting the project was to meet the needs of an open source Ethereum wallet, hoping to help other developers build decentralized applications. “This is a great opportunity for Trust Wallet to work with Binance, and we're also aligning with partners that have adopted a similar approach to security and user management,” said Viktor Radchenko. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Binance buys Ethereum wallet Trust Wallet

Today's Market Overview: The overall rise in the crypto market

The overall rise in the crypto market was on Friday, July 27th. Very few of the top 100 cryptocurrencies are holding declines, and the vast majority of currencies are holding more or less gains. At press time, the top 10 cryptocurrencies are all rising except IOTA (MIOTA). Bitcoin (BTC) showed an upward trend today and is still trading above $8,000. At press time, Bitcoin (BTC) was trading at $8161.52, up 2.75% in 24 hours. Ethereum (ETH) is also holding gains but is still fluctuating around $470. At press time, Ethereum (ETH) was trading at $469.22, up 1.06% in 24 hours. At press time, Stellar Coin Steller (XLM) had the biggest increase among the top 10 cryptocurrencies, rising 4.52% in 24 hours and trading at $0.32. PIVX (PIVX) had the biggest increase in the top 100 cryptocurrencies today and currently ranks 80th in terms of market capitalization. At press time, the coin was trading at around $2.15, a 24-hour increase of 14.6%.
Mixin Coin (XIN) is the biggest drop among the top 100 cryptocurrencies today. It currently ranks 58th in terms of market capitalization. At press time, the coin was trading at around $427.13, a 24-hour decline of 9.89%. The total market value is currently about 298.3 billion US dollars, up about 8.6 billion US dollars from the same period yesterday.
The sharp rise in the crypto market today is likely due to the recent statement by the securities regulator in South Carolina that it has terminated the May closure order against blockchain startup ShipChain and the March ban on mining company Genesis Mining. Additionally, online broker Monex Group is now planning to launch a US-based trading platform after acquiring the hacked Japanese cryptocurrency exchange Coincheck this spring. Monex CEO Oki Matsumoto also said that Coincheck will begin full operation next month. Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting...

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Today's Market Overview: The overall rise in the crypto market

[Comparative to Zaobao] Cryptocurrency exchange Coincheck plans to enter the US market; Google bans cryptocurrency mining programs in its mobile app store

At 7:30 a.m., Blockchain news you need to know: [Cryptocurrency exchange Coincheck plans to enter the US market] According to Cointelegraph Japan's July 27 report, online broker Monex Group is now planning to launch a US-based trading platform after acquiring the hacked Japanese cryptocurrency exchange Coincheck this spring. Monex CEO Oki Matsumoto also said that Coincheck (purchased by Monex in April for about $33 million) will begin full operation next month. Matsumoto initially predicted that Coincheck's trading activities would be opened in June, but it did not obtain a license from Japan's financial regulator, the Financial Services Authority (FSA) at the time of the expected opening, which delayed its opening. As Matsumoto said at the press conference, he is confident of getting a license from the FSA and added that Monex has completed its investment in cybersecurity and internal management. [Google bans cryptocurrency mining programs in its mobile app stores] Google, like Apple, has now banned cryptocurrency mining apps in its mobile app stores. The internet giant revealed a shift in its position in a recent policy update for Google Play developers, according to a report published by industry media agency Android Police on Thursday. “We don't allow apps to mine cryptocurrencies on devices. We only allow apps to remotely manage the mining of cryptocurrencies,” the policy states. In April of this year, after Google discovered that the “vast majority” failed to comply with its single-purpose policy or a malicious attack, Google banned the use of cryptocurrency mining browser extensions in its Chrome online store. Also, just last month, Apple updated its mobile app policy for iOS developers to ban any apps that can be used to mine cryptocurrencies on mobile devices. This limitation appears to be due to the popularity of cryptocurrency mining in the criminal world. [The top ten cryptocurrencies had an average return on investment of 1,360 times in 2017] According to data from the Crypto Finance Conference (CFC) on July 27, the ten crypto transactions in 2017 returned an average of more than 136,000% per person. Of all crypto projects that raised at least $1 million in 2017, IOTA (MIOTA) received an astonishing 614,934% return for investors, making it the top spot in the researchers' rankings. In second place is Nxt, a blockchain-powered decentralized ecosystem focused on crowdfunding, governance, cloud services, and digital asset exchange. The project's local NXT token investors have a return of over 500,000%. [Bank of Canada: The central bank will have economic benefits from issuing cryptocurrencies] According to CoinDesk reports, the Central Bank of Canada stated in a document released on Thursday that cryptocurrencies issued by the central bank may bring economic benefits to Canada and the United States. The working paper that came to this conclusion was prepared by Bank of Canada researcher S. Written by Mohammad R. Davoodalhosseini. He said the introduction of a central bank digital currency (CBDC) “could bring consumption growth of up to 0.64% in Canada, and 1.6% in the US, compared to the current cash-only economy.” Davoodalhosseini said that one of the key issues currently being considered by “many” central banks considering issuing CBDCs is whether cash and digital fiat money should coexist. If coexistence is chosen, then how to maintain an “optimal” monetary policy. Based on detailed modeling and mathematical calculations, the researchers pointed out in the paper that, at least for Canada and the US, the country's economic benefits may be better achieved by using CBDC instead of cash, provided that implementing this transformation process is not very expensive. [US state of South Carolina terminates ban on blockchain venture capital firms] According to CoinDesk, the securities regulator in South Carolina in the US publicly stated in a public document that it has terminated the ban on two blockchain startups. The South Carolina Attorney General's Office, which oversees the state's securities regulation, issued two orders on Thursday announcing the revocation of the May shutdown order on blockchain startup ShipChain and the March ban on mining company Genesis Mining. This is the first time that the state has lifted a ban on the operation of blockchain startups. Previously, regulators believed that ShipChain's generation...

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[Comparative to Zaobao] Cryptocurrency exchange Coincheck plans to enter the US market; Google bans cryptocurrency mining programs in its mobile app store

Today's Market Overview: The overall decline in the crypto market

On Thursday, July 26, the crypto market showed a downward trend. Most of the top 100 cryptocurrencies are falling. At the time of press release, the top 10 cryptocurrencies except Tether (USDT) and IOTA (MIOTA) had declines. Bitcoin (BTC) is holding a downward trend today, but is still trading above $8,000. At press time, Bitcoin (BTC) was trading at $8048.5, down 2.16% in 24 hours. Ethereum (ETH) is also holding a slight decline and is still hovering around $470. At press time, Ethereum (ETH) was trading at $467.57, down 1.68% in 24 hours. At press time, the IOTA coin had the biggest increase among the top 10 cryptocurrencies, rising 2.31% in 24 hours and trading at $1.02. Tether (USDT) also rose slightly. At press time, the transaction price was $1, an increase of 0.66% in 24 hours.
VeChain (VEN) has a growth rate of more than 20% today. It currently ranks 17th in terms of market capitalization, making it the biggest increase among the top 100 cryptocurrencies. At press time, the coin was trading at around $2.37, a 24-hour increase of 20.05%. The total market value is currently about 297.4 billion US dollars, down about 3.2 billion US dollars from the same period yesterday.
Author: Wang Jiali This article is from BiTui Finance. The source must be indicated for reprinting.

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Today's Market Overview: The overall decline in the crypto market