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Swachhcoin to Use Blockchain to Mitigate Waste Crisis, Airdrop Tomorrow

Waste management project Swachhcoin today announced that its Presale will start on June 1, preceded by an airdrop for community members, scheduled to start by tomorrow, Thursday 24 May.

Swachhcoin, which has team members around the world, aims to create a global ecosystem to solve the problem of waste management. It aims to use blockchain technology to reward users for sustainable waste solutions and uses AI, big data and internet of things (IoT) technology.

Aditya Kumar, Swachhcoin’s CEO said, in a statement: “We have a number of exciting updates in the pipeline regarding our first platform deployment in the coming days. I would also like to thank our community members for their tremendous support and also our team members and advisors for associating with our cause.”

The Swachh token (/SCX) is an ERC20 utility token that provides real-time incentives for human behavior to manage waste effectively and sustainably, said the Swachhcoin team. They aim to empower their customers to contribute towards a lower carbon emission economy.


 

Following news in Lebanon, where a waste crisis has emerged after a large landfill site closed without proper alternatives, it’s clear that modern societies need to re-evaluate temporary landfills solutions. In the UK, on average, every person throws away seven times their bodyweight in waste every year. Blockchain technology offers viable solutions in the form of a public database, that cannot be altered, and uses incentives to operate. It’s these factors which Swachhcoin seeks to leverage.

Swachhcoin has partnered with Secure Blocks, an Indian organisation that provides blockchain solutions. Secure Blocks have partnerships in place with GoScale, Project Globatrix and Public Reputation Network. Swachhcoin has also teamed up with Stox which is an Ethereum-based prediction market allowing users to predict outcomes in sectors including finance, sport and politics.

Swachhcoin’s Presale will begin on June 1 at 15:30 UTC and will last until June 15 or until all the allocated tokens are sold, according to the company The Main Sale is scheduled to start on July 1 and will continue to August 8. For details of the airdrop, please join the Swachhcoin Telegram group here.

 

Adult Industry Payment Processor PumaPay Pulls in USD 117 Million in Token Sale

Cyprus-based blockchain firm Decentralized Vision has announced, on Tuesday, a raise of USD 117 million in a private token sale for its PumaPay transaction processor, which has gained significant popularity in the adult entertainment business.

According to a statement, the PumaPay network has signed up 40 partners which are generating over USD 10 billion worth of transactions each year and 30 of these names are in the adult sector, including Vivid Entertainment, ImLive and AEBN.

The token sale ended on Monday producing a total supply of 78,042,956,829 PMA tokens, the company said.

PumaPay says its PullPayment Protocol was created with the mission of bringing crypto payments into daily life. The system reverses the mechanisms of a transaction, enabling merchants to ‘pull’ crypto funds from their customers’ account, avoiding the drawbacks of current banking systems, such as high transaction costs and the insecurity of chargebacks or reverse transactions.


 

The company said its protocol supports payment practices that have, to-date, been impossible on the blockchain, including recurring payments with fixed and variable amounts, pay-per-use transactions and restricted and split payments. This enables merchants to run their businesses the way they’re used to with credit cards, said the company.

PumaPay’s CEO, Yoav Dror said, in a statement, “This great achievement will help us finish the development of our PullPayment Protocol, PumaPay wallets, the PumaPay Pride, and other innovative components to achieve our vision and values. It gives us the resource to expand our ecosystem, bringing [in] more companies to adapt the protocol at this early stage. I would like to thank all our contributors for their trust and support. It is also a great honor to have so many companies to have committed to adapt the Protocol from the onset, introducing PMA as a payment method and creating a strong foundation for the PumaPay economy.”

tZERO Unveils Prototype for Upcoming Security Token Exchange

Overstock.com fintech subsidiary tZERO unveiled on Monday a video demonstration of its upcoming security token trading platform.

“In August 2015, Overstock used tZERO’s blockchain technology to issue what we believe was the world’s first private blockchain security, a USD 5 million bond to First New York Securities,” siad Overstock.com and tZERO CEO, Patrick Byrne, in a statement. “In December 2015, Overstock filed with the SEC an S-3 registration statement to register a preferred stock digital security utilizing tZERO’s blockchain technology, which was subsequently declared effective in December 2016. Overstock used that S-3 to issue what we believe was the world’s first public blockchain security, OSTKP, utilizing tZERO technology once again. Now, we are unveiling tZERO’s security token trading software: the astute viewer of our progress can look at this, and the collection of strategic assets we have assembled, and get an idea of the breadth of what we intend.”

tZERO launched its crowdsale, available only to accredited investors, on December 18, 2017, following a successful presale fundraise of over USD 100 million. The tZERO initial coin offering, capped at USD 250 million, was recently extended through to May 14, 2018. tZERO is focused on the development and commercialization of financial technology based on blockchain technology.

tZERO President Joe Cammarata said, in a statement, “Technologically speaking, we anticipate the security token trading software will be ready to trade in May, subject to developing further regulatory clarity. We have been working hard on getting this prototype right and look forward to user feedback. We’re making history and we thank everyone involved in creating this new digital ledger platform. We also want to thank our customers; we’re doing this together.”

Source: http://www.the-blockchain.com/

Central bank of India bans financial firms from dealing in crypto

The global cryptocurrency market took another regulatory hit on Thursday as India’s central bank issued a ban on the use of cryptocurrencies by regulated financial institutions in the country.

The Reserve bank of India (RBI) said in a statement:

“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling [virtual currencies].”

The ruling means that any companies that are currently providing cryptocurrency-related services will need to bring them to a complete halt within a timeframe set to be announced by the bank in due time.

The Times of India reports that the value of Bitcoin in India fell from Rs 4.6 lakh to Rs 3.4 lakh following the news. It quotes RBI deputy governor B P Kanungo as saying:

“Digital tokens issued by private parties have been getting international attention for quite some time because of their speculative value. While the regulatory responses are not uniform, it is universally felt that they (cryptocurrencies) could seriously undermine the anti-money laundering and financial action task force framework, adversely impact market integrity and capital controls and, if they grow, they can endanger financial stability.”

GOVERNMENT CONCERNS

Cryptocurrencies are not considered to be legal tender in India, and the government has issued a number of warnings about the potential risks of trading in it. The government’s main concerns are consumer protection, market integrity and money laundering.

The action by the RBI has not come out of the blue. The country’s finance minister told lawmakers in February that the government wanted to take all necessary measures to stop the use of cryptocurrencies in illegitimate activities. The country’s tax department had also sent out notices about investing to thousands of citizens after a national survey showed that there had been $3.5 billion worth of transactions in 17 months.

The Times report also states that RBI announced simultaneously with the ban that a panel will be submitting a report on the viability of a digital currency backed by the government. Apparently, the RBI is interested in the potential of using cryptocurrencies to cut costs and increase the efficiency of transactions.

 

Source:

Exchange Group TMX Issues Guidance to Crypto and Blockchain Issuers

TMX Group, a Canadian financial services company that operates equities, fixed income, derivatives, and energy markets exchanges, has posted a series of short online webinars about a variety of topics related to blockchain and cryptocurrencies. Providing tips and insights for listed issuers and for issuers that might seek to list on TSX or the TSX Venture Exchange, the highlights are set out below.

This article was originally published on the website of Cassels Brock, a Canadian law firm.

New Listings

For issuers seeking a listing on TSX or TSXV, Staff emphasized that neither exchange has any specific blockchain or cryptocurrency listing criteria. As there are no special listing categories, the exchanges will not typically treat new applicants any differently and will work to understand the issuer and its business. Accordingly, they will assess the industry, the company and management and the legal and regulatory environment of the issuer and how they comply. At present, neither TSX nor TSXV is listing cryptocurrencies, though TSX suggested it might be open to this. Issuers coming to TSX or TSXV in the sector would typically be listing traditional securities in a traditional category of listing.


 

TSX

Blockchain or cryptocurrency issuers are expected to list in the technology category or as an “investment fund” (an exchange-traded fund, a closed-end fund or a structured product). In the technology category, TSX identified differences between blockchain as a technology – which they believe are easy to assess and approve – and cryptocurrencies. For technology issuers, they noted that listing rules require that an issuer have a minimum of $10 million in the bank, with most raised under a prospectus, funds for at least 1 year of operations, a $50 million market capitalization and have a technology that is at an advanced stage of development or commercialization. The last requirement typically requires that there be commercial revenue – typically, several million dollars supported by audited financial statements, and in limited circumstances firm sales contracts for several million dollars. Cryptocurrencies are different, with longer horizons expected before one is listed. At a minimum, TSX will want to be comfortable with the business and that it complies with relevant laws where the issuer operates. For investment fund issuers, Staff focused on ETFs, due to the recent publicity surrounding proposed crypto ETFs. TSX pointed to the SEC staff letter from January 18, 2018, as applicable guidance for ETFs seeking to launch in this space and be listed on TSX. The SEC staff letter identifies a number of issues that crypto ETFs would need to address, such as how funds would develop and implement policies and procedures to fairly value cryptocurrency-related products, and what steps funds investing in cryptocurrencies or cryptocurrency-related products would take to ensure that they would have sufficiently liquid assets to meet daily redemptions daily. For TSX, many of their concerns would be addressed by the fact that the ETF will have its prospectus reviewed and receipted by a securities commission.

TSXV

Issuers would be expected to fall under either the technology category or the investment issuer category. For the technology category, the issuer would be required to have a history of operations or a validation of the business. Guidance for this listing requirement was provided by the TSXV in a notice released on January 29, 2014. Issuers that meet a set of three criteria, including the ownership of a product or service that has been at the commercialization stage for at least 12 months and has generated at least $500,000 in revenue, would qualify for listing. Issuers that can meet 3 out of 6 alternative criteria, including having a product/service which has been in development for at least 12 months or having spent at least an aggregate of $250,000 on such development, having a working prototype or beta version that reasonably demonstrates final product and functionality, and principals or founders with a successful track record in the same or similar industry, would qualify for a Tier 2 listing. Evaluating a cryptocurrency exchange or other platform is more challenging than a traditional technology company and the TSXV encouraged early discussions and clear regulatory analysis. For issuers seeking a listing in the investment issuer category, there are requirements for minimum net tangible assets and a disclosed investment policy. As well, if listing on Tier 2, 50% of the asset of the issuer must be allocated to one or more investments. The challenge, Staff emphasized, was not the listing requirements per se, but more so that assessing the value of the issuer’s net tangible assets, not being traditional assets, was more difficult.

Existing Listed Issuers

The webinars were focussed mostly on issues for TSXV listed issuers, addressing both initial coin offerings (ICOs) and listed issuers moving into blockchain or cryptocurrency related activities.

Conducting an ICO

Staff provided guidance for issuers that might conduct an ICO. Any ICO requires prior acceptance, either as a private placement or as a reviewable disposition. Staff identified the announcement of an ICO without a robust analysis of whether the coin was a security or not as a red flag. Even if the coin or token was not a security, Staff would consider it subject to prior acceptance as a reviewable transaction.  In addition to prior acceptance, the TSXV stated that, due to the novel nature of the ICO structure, it will look for detailed disclosure in any ICO related press release, including:

  • the features of the coin or token;
  • whether the coin or token being distributed is a security;
  • whether the coin or token is asset-backed or not (and if asset-backed, what will happen if the assets cannot be delivered);
  • whether the coin or token will be listed on or tradable on any exchange or platform;
  • the logistics of the distribution of the coin or token; and
  • relevant risks. For TSX issuers, if a coin or token proposed to be issued is not “participating” (entitled to participate in earnings or in assets on liquidation) and does not carry voting rights, it would appear that prior acceptance would not be required.

Investing in an ICO

For listed issuers investing in ICOs, the TSXV noted that it has specific requirements applicable to investment issuers and that these requirements remain the same regardless of what is being invested in. These include a minimum amount of net tangible assets and a disclosed investment policy (which would presumably need to include the ability or discretion to invest in ICOs).

New Blockchain or Crypto Business Initiatives

TSXV-listed issuers that are moving into a blockchain or cryptocurrency business should consider whether they are effecting a change of business (or some other reviewable transaction) that would require prior exchange acceptance and shareholder approval. TSX issuers that materially change the nature of their business are required to notify TSX and will normally be required to show they meet original listing requirements. Failure of the listed issuer to meet applicable original listing requirements may result in the delisting of its securities. The TSXV provided some useful tips for announcing a blockchain or cryptocurrency business initiative, such as avoiding the use of buzzwords without any additional detail describing the new business, including disclaimers of exchange acceptance and disclosing factors and conditions that could delay or impact the success of the initiative.  Issuers should consider the proposed development and whether they have the capability to carry it out before they announce, whether it could be a change of business, and contact the TSXV prior to announcing in appropriate cases.

For more information about the TMX Group: https://www.tmx.com

Source: Cassels Brock 

image: Open Grid Scheduler / Grid Engine CC BY-SA 3.0 

ALAX and Gionee Partner to Bring Mobile Gaming to the World’s Underbanked

Hong Kong and Geneva-based ALAX on Wednesday announced a partnership with Chinese smartphone juggernaut Gionee that will see its mobile gaming platform pre-installed on all new Gionee devices. The move pairs one of Asia’s biggest smartphone manufacturers with token-based technology that will give mobile game developers access to tens of millions of un- and underbanked users.

ALAX will use blockchain-based technology to connect gamers to content creators through a token ecosystem that will help developers monetize their work. An early version is expected to be released in the coming weeks, according to the company. The goal is to bring the mobile gaming industry — worth USD 46.1 billion in 2017, according to the statement — to underbanked users who would otherwise not have a way to participate in the games’ virtual economies. The company plans to issue ALX and ALA tokens in an April 17 token generation event.

Enter Gionee, a Shenzhen smartphone manufacturer that shipped over 40 million smartphones to over 50 global markets in 2016. Its devices are especially popular in India, China, and Southeast Asia, which happen to be markets full of unbanked users, according to the World Bank Global Finance Index. This partnership puts a token-based mobile economy in the hands of tens of millions of gamers who will, for the first time, be able to transact in-app and thus help developers monetize their creations.

This partnership aligns with an overall affinity for blockchain in mobile gaming. According to Token Report data, a recent survey found that 75 percent of gamers reported that cryptocurrencies would be easier to use in gaming. 87 percent of surveyed gamers said that they had not used crypto assets in gaming, though 80 percent were interested in doing so.

 

ALAX co-founder and CEO Matej Michalko said in a statement: “The current [mobile gaming] distribution process is fraught with a number of inefficiencies, from high transaction fees, long transaction settlement times to complete inaccessibility to unbanked end-users. We overcome these limitations while bringing speed and process efficiencies by leveraging the blockchain. In Gionee, we have an ideal partner to execute against this vision of delivering game content while enabling developers to monetize their hard work and passion.”

 

Source: http://www.the-blockchain.com/

Highly-Anticipated High-Speed Platform, Zilliqa Hires JPMorgan BD Exec Ahead of Release

A highly-anticipated, high-speed blockchain technology platform that claims to have the potential to rival the global transaction throughput of VISA, Singapore’s Zilliqa has hired former Blackrock and JPMorgan executive En Hui Ong as Head of Business Development. Zilliqa is focused on speed, and claims to be capable of high throughput through sharding. The idea is to automatically split up a large network of machines processing transactions into parallel sub-committees or “shards”. Each shard processes its own microblock in parallel with other shards, and resulting micro-blocks are merged into one final one. In a live interview with “The Rundown” on CNBC International in Singapore, Dr. Xinshu Dong, CEO of Zilliqa, explained that the concept of sharding has the potential to solve the scalability problem, with Zilliqa’s goal to “at least hit the average throughput of VISA and MasterCard,” which is around 8,000 TX/s. En Hui, hired directly from JPMorgan, specializes in financial product sales and marketing, according to a Zilliqa press release. She will leverage her career in financial services to help Zilliqa bring its technology to major commercial partners over the coming months, when the company states that it also aims to release its open source technology. Source:http://www.the-blockchain.com/

Why a lack of creativity can lead your ICO to failure


ICO

Why a lack of creativity can lead your ICO to failure

Lack of creativity can lead to ICO failure
(C) ISTOCK.COM/RASTUDIO

It is without question that ICOs have proven to be a growing trend that has been present throughout 2017 and into 2018. As more and more ICOs make their way onto the market, some legitimate and some less so, not all ICOs are destined for success.

In fact, many projects fail within the early stages due to either poor management or no forward planning from those running the campaigns.

There are many ways that ICOs can undergo pitfalls which can in turn lead them to fail. As ICOs are not straightforward and with new ideas and concepts arising daily, it is important that for an ICO to succeed, it needs to be noticed and stand out for all the right reasons. This means that you need to have a variety of unique selling points and ensure it is creative.

However, ICOs don’t traditionally lean towards the creative side and therefore it is up to the owner of the project to utilise some tactics to get the campaign noticed to generate some buzz.

INTRODUCE THE TEAM

Having an anonymous team, with no credibility, will not work for the ICO. There must be a credible work force fronting your project that people are able to trust. ICOs typically list team member, advisors and and partners in order to show that there is a team and well-respected industry experts supporting the project and to provide potential investors with a level of transparency.

It is also important to tell the story of the ICO and let the audience know what you aim to achieve and the company’s purpose. In doing so, people will feel more inclined to support the project as the audience will understand the mission behind it.

THINKING OUTSIDE THE BOX WITH YOUR MARKETING

Having a creative content marketing strategy which is up to date and looks promising will enable you to bring the ICO to ‘life’. You should consider various tools like infographics, video content and images which are engaging and easy on the eye. Techniques such as videos can provide a quick and simple message explaining the project and let potential investors know what they can expect. There is also a potential to create a ‘go to’ blog – surrounding news around your ICO and the crypto community.

Online platforms such as social media and a company website can be used to keep the audience updated with the latest news about the project and spread the word about the ICO. Communicating its progress it vital to an ICO as it allows investors to be kept updated, and also give potential investors a central source of information when researching the company. In addition, these platforms allow direct engagement with audiences meaning that users are able to share content they have created to promote your ICO.

“build up strong relationships with your supporters”

BUILDING A COMMUNITY

ICOs tend to have extremely strong and active communities supporting the project and having this community will not only overcome any fear or uncertainty that potential investors may have, but also allows you to build up strong relationships with your supporters.

There are many ways to build a community for your project. ICO events including crypto meet-ups, conferences and seminars have very recently become popular across the world and this is the perfect place to come face-to-face and build relationships with investors and build up a community for the project.

Community groups and forums can also be used as a means to connect people with your ICO, where supporters can ask questions and join in conversations with one another.

CREATIVITY TO DRIVE SUCCESS

It is clear that creativity and ICOs are needed to work in conjunction together and in turn help an ICO become successful. Not only is creativity of paramount importance but also providing high end content is also an integral part of any ICO marketing campaign.

With the growth of ICO’s continuing to be apparent, and January proving to be the most popular month to date for the incentive, reporting a total of $1.51 billion dollars raised, the ICO market is becoming more competitive than ever.

Companies looking to launch Initial Coin Offerings should therefore ensure that they consider the creative side of the project in order to encourage its success and make sure to keep a competitive edge over other projects.

  • Published in ICOs
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