Bitcoin News

How to Buy Smartphone for Crypto: Project Launches New Blockchain-based Marketplace

Posted by Maria Yavuz on

A new platform connects users directly, so that they can make a purchase or sell their goods for digital money.

A project called Nasdacoin is planning to open a new online marketplace where users can buy and sell products, as well as services to each other, directly using the company’s cryptocurrency as a payment method. The new multilateral platform is to be launched on Oct. 30, 2018, when the final testing is completed. The platform features will include geolocation, which means it will display ads for the services that are relative to where the user is located.

The team has also decided to integrate blockchain technology with gambling. The company is planning to launch its own casino in January 2019. Nasdacoin (NSD) would be the main currency for buying chips and getting awards for this service.

The company also offers trading within its peer-to-peer exchange platform which is available on their website, and as an App for Android or IOS. Users can compare and find the best rates, do internal or external cryptocurrency exchange, and convert NSD into Bitcoin and vice versa. For users that want to exchange NSD directly to fiat currency and withdraw it, the company is developing a Nasdacoin Card. When the card is launched, it can be used for online purchases, just as you can already do with Visa credit cards.  

Opportunities with NSD

Nasdacoin is a virtual cryptocurrency that was developed using the script algorithm in the POW/POS Hybrid format. According to CoinMarketCap, NSD hit a one-day volume of $87,639 on October 16. NSD had a market cap of more than $6 million.

The company says that anybody can get the Nasdacoin cryptocurrency using Proof-of-Stake (PoS) mining. Users need to acquire a certain amount of NSD and keep that digital money in their Nasdacoin wallet for a minimum of 15 days and a maximum of 90 days, until these coins start to mine new blocks. Nasdacoin also offers its’ Affiliate Program which promises additional profit.  

The Nasdacoin team hopes that new features and its Affiliate Program will help create a strong internal community, and make Nasdacoin one of the major currencies on the digital market in a very short period of time.


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Europe’s Largest Port Partners with Samsung IT Subsidiary to Test Blockchain for Shipping

Posted by Ana Berman on

Port of Rotterdam partners with major Dutch bank and Samsung IT subsidiary to see how blockchain can improve shipping logistics from Asia to The Netherlands.

The largest port in Europe, the Port of Rotterdam, has partnered with major Dutch bank ABN AMRO and the IT subsidiary of Samsung to test blockchain for shipping, a press-release from Samsung reports Monday, Oct. 22.

According to Samsung SDS – the IT and tech division created by Korean tech giant Samsung – the trial will focus on shipping containers from an unnamed factory in Asia to the port of Rotterdam.

The first test will be completed by the three above-mentioned parties, with plans to later open the network to other companies. As per the Port of Rotterdam’s official announcement, the experiment is set to start in January 2019, while the results will be announced in February.

As the announcement further states, the infrastructure behind the project was developed by BlockLab – a Dutch company established by Port of Rotterdam Authority. It will also involve two other decentralized platforms – Samsung’s Nexledger, created back in 2017, and Corda, an open-source blockchain platform launched by enterprise software firm R3.

As per the Port of Rotterdam Authority’s CFO Paul Smits, the logistics in shipping from China to Rotterdam with current infrastructure involves at least 28 parties.

The members of blockchain trial expect that the technology could help reduce time spent on shipments and simplify financial transactions. “The transportation, monitoring and financing of freight and services should be just as easy as ordering a book online,” Smits said in the Port’s press-release.

Sanghun Lee, President of Samsung SDS EU/CIS, stresses that the trial is the first in history where different blockchain platforms work together:

“What is particularly special about the project is that, for the first time in the rather short history of this technology, we can have different blockchains operating together. This takes place via an overarching ‘notary’ that connects entirely separate blockchains in Korea and the Netherlands.”

Blockchain solutions have been widely tested and implemented to improve international shipping logistics. Earlier this month, the Spanish city of Valencia, which has one of country’s busiest ports, announced that it will create “smart port” project that could be further applied in other major ports.

In September, the U.K.’s leading port operator, Associated British Ports (ABP), announced it would take part in pilot shipments using decentralized solutions, while back in June Denmark revealed its plans to implement blockchain for local ship registers as part of a pan-E.U. blockchain partnership.

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Crypto, Blockchain Should Be Regulated Under Existing Frameworks, Says HKEX Report

Posted by Marie Huillet on

A new Hong Kong Stock Exchange reports advises that crypto and blockchain should be regulated in consistency with existing regulatory frameworks.

A new report published by the Hong Kong Stock Exchange (HKEX) Oct. 18 proposes that financial technologies (fintech), including cryptocurrencies and blockchain, should be regulated in consistency with existing regulatory frameworks.

The report, written by the Chief China Economist’s Office and Innovation Lab at HKEX, focuses on integrating and regulating blockchain and artificial intelligence (AI) applications within the securities industry, rather than in the fields of banking, Internet finance and digital currencies, which it notes is where they are currently “most” often deployed.

To this end, the report outlines the potential impact of both technologies for the capital market and securities trading, singling out blockchain use cases for “trading and clearing and settlement businesses, asset rehypothecation business and private equity market.”

HKЕХ indicates that the disintermediated and distributed structure of blockchain is poised to improve trade transparency and efficiency across the securities sector, as well as to reduce costs.

Nonetheless, alongside this positive impact, the report highlights that the use of innovative technologies may “magnify or expose new forms of financial risk.” To this end, it advises continuously “upgrading” regulatory frameworks to keep pace with disruption and avoid the emergence of “possible regulatory loopholes.”

In the case of digital currencies, HKEX notes that different interpretations of their significance have prompted different jurisdictions to set divergent regulatory targets for oversight of the sector.

Overall, the report proposes that whether offered in a “virtual or real environment [...] financial businesses of the same nature should be subject to the same regulation,” to “ensure fair competition and prevent regulatory arbitrage.”

This is broadly defined as the “consistency principle” in financial regulation, and the report specifically advises bringing digital currency and digital funds under the purview of the existing securities regulatory framework:

“The public fund-raising activities of shares issuance by issuers – which do so with merely a prospectus published on the internet but without any underwriter nor compliance with the IPO registration procedures or strict disclosure requirements – must be rectified by subjecting them to the governance by the Securities Law."

As reported in September, “insider sources” have recently suggested that HKEX is eyeing takeovers in the blockchain sector as part of a change in business strategy, reportedly prompted by stalling trading links with exchanges in China amid worsening U.S.-China trade relations.

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Online Bank Swissquote Enters ICO Market With Purchase and Custody Option for Clients

Posted by William Suberg on

A Swiss online banking provider says it wants to offer ICO token access to those who do not “understand blockchain.”

Swiss online financial services provider Swissquote announced it had become “the first bank worldwide” to offer purchase and custodial services of (Initial Coin Offering) ICO tokens for clients in a press release Monday, Oct. 22.

Swissquote, which has offered various cryptocurrency-related services to account holders since 2016, began its latest service by allowing them to purchase ICO tokens from industrial diamond manufacturer LakeDiamond.

Explaining the move, the bank said it was now no longer necessary for ICO consumers to “understand blockchain.”

“Combining crowdfunding with the blockchain creates a new form of fundraising,” CEO Mark Buerki commented.

The service will work via Swissquote users purchasing tokens directly from their online account, with the bank itself holding them in a separate wallet.

It remains unknown which further ICOs will be endorsed under the scheme.

The ICO industry has suffered at the hands of the ongoing 2018 bear market across cryptocurrencies meanwhile, with many tokens now worth less than their initial entry price.

Data from Diar released in September noted some of the worst losses extended even to famous names such as Bancor and Kin.

The sector is not done, however, with last week also seeing Russia’s largest majority state-owned bank Sberbank confirming it had completed a mock ICO as part of a regulatory sandbox trial.

Once sufficient ICO regulations are in place, the banking giant said in a press release Oct.19 that it would consider expanding its ICO services for its clients.

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Australian Securities Watchdog Halts ICO Seeking to Raise $50 Million

Posted by Wolfie Zhao on

An Australian ICO project planning raise up to $50 million has been halted by the country's securities regulator.

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