Cashaa Announces US Dollar Bank Accounts for Cryptocurrency Firms

Cashaa Announces U.S. Dollar Bank Accounts for Cryptocurrency Firms

                              

Bitcoin banking platform Cashaa will soon offer U.S. dollar bank accounts for cryptocurrency-focused businesses, except those operating in sanctioned countries. 

Cashaa offers banking services like International Bank Account Number (IBAN) accounts, international SWIFT transfers for fiat and credit card processing for cryptocurrency-based businesses, which often struggle to receive these services from traditional banks. It also enables businesses to accept cryptocurrencies and withdraw funds in fiat, including British pounds, euros and Indian rupees. Beginning November 25, 2019, clients based in the U.S. will be able to apply for USD accounts.

These accounts will include automated clearing house and SWIFT access without limits and incur a one-time setup fee of 250,000 CAS, Cashaa’s native token (about $1,500 at press time). Cashaa has integrated with New York-based Metropolitan Commercial Bank for provision of this service. As with Cashaa’s U.K. accounts, U.S. dollar account holders will have access to multisig wallet and exchange functionality for bitcoin purchases.  

Banking the Unbanked 

Cashaa’s new service is targeted at cryptocurrency businesses who encounter difficulty opening a corporate account in the U.S. As noted above, traditional banks have often shied away from the industry for reasons that range from regulatory uncertainty to the volatile nature of crypto assets. In some cases, cryptocurrency-based businesses have had their accounts closed. In a press release on the service, Cashaa noted that it formed a “pre-compliance team” in September 2019 following Barclays decision to stop serving Coinbase. Speaking on their rationale, Janina Lowisz, the co-founder and vice president of marketing, believes her company could help serve the “underserved businesses building new technologies.”

“Our goal is to create a hassle-free experience for all businesses who are building new technologies and business models,” Lowisz said in the release. “The addition of U.S. Dollar accounts is an important milestone for the crypto community and us. We want to thank our community and all businesses so far who have trusted Cashaa to solve their banking problems.” In April 2019, Cashaa began supporting cryptocurrency purchases with major debit and credit cards. In October 2019, the company enabled bitcoin purchasing options for customers in India using fiat currency.

Article Produced By
Jimmy Aki

Jimmy has been following the development of blockchain for several years, and he is optimistic about its potential to democratize the financial system.

https://bitcoinmagazine.com/articles/cashaa-announces-u-s-dollar-bank-accounts-for-cryptocurrency-firms

Chris Corey

A Wyoming loophole’ to Carry Out Crypto Transactions Without BitLicense in New York

A ‘Wyoming loophole’ to Carry Out Crypto Transactions Without BitLicense in New York

                               Wyoming

There may be a new way of by-passing the tough New York laws to carry out crypto-related transactions in the world’s capital without acquiring a BitLicense, a crypto license developed by the New York Department of Financial Services (NYDFS) in 2014.

Wyoming offers crypto companies a loophole

According to a report from members of the committee that drafted laws to govern the crypto banking sector in Wyoming, the state will have the power to charter Special Purpose Depository Institutions (SPDIs), a reserve bank that can act as a crypto custodian. Now, these SPDIs open a loophole that may well allow banks to open branches in NY and carry out their business without the need for a BitLicense.

Cool, right?

The loophole first came to light through a tweet sent out by Caitlin Long, member of the Wyoming blockchain taskforce, claiming a solution to the long-standing BitLicense problem. A number of companies have come out publicly rebuking the methods employed by the NYDFS before offering the license. With only 18 BitLicenses dished out since the launch half a decade ago, a multitude of crypto businesses has been locked out of the state during the period. Chris Land, general counsel of the Wyoming Division of Banking, spoke during the Coindesk Invest conference held in New York assuring companies a Wyoming SPDI can

start operations in the city.

“We are fairly confident that the Wyoming SPDI will be able to operate in New York without a BitLicense.”

How exactly do you bypass NYDFS BitLicense?

According to the thread of tweets by Caitlin, the SPDI license from Wyoming offers the banks a state charter which in turn allows operation in about 42 states across the U.S without need for additional licenses. According to Federal law, state-chartered banks of other states, similar to national banks, should have similar laws applying to them and exempted from them.

For instance, in our case, the NY law exempts national banking institutions from acquiring a BitLicense which means most certainly a state-chartered bank (such as Wyoming’s SPDIs) would be exempt from acquiring the license before setting up a business. However, for some states, NY included you will need to open a branch in the state before starting operations. With the cryptocurrency industry growing as more companies and SMEs integrate these innovative solutions to their business systems, and now an opportunity presenting itself, it is only a matter of time before firms take on the loophole. We’ll wait and see.

Article Produced By
Lujan Odera

Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist.

https://coingape.com/wyoming-loophole-crypto-transactions-without-bitlicense/

Chris Corey

Northern Trust Testing Fractionlized Bonds on Blockchain

  Northern Trust Testing Fractionlized Bonds on Blockchain        

                                

Custody bank Northern Trust is testing the trading of fractionalized bonds on a blockchain. 

Working with Singapore-based debt markets company BondEvalue, the bank is providing asset servicing for large, high-grade bonds that will be tokenized and divided for retail investors on Hyperledger Sawtooth. These bonds are normally too large for individual investors, but the quality of the bonds is attractive.

The move shows Northern Trust’s continued interest in the technology after it developed then sold its private equities blockchain, which shortens the time to market for new high-tech private equity funds. With $124.3 billion in assets, Northern Trust is the 24th largest bank in the U.S.

“We’re building capabilities we feel will be reusable across multiple asset classes and multiple jurisdictions,” Justin Chapman, global head of market advocacy and innovation research at Northern Trust, said of the new bond pilot. “Our focus on this initiative is to help bring the exchange to life and then we offer the highest grade asset servicing capability in that digital environment.”

Through the Monetary Authority of Singapore’s Sandbox Express, BondEvalue was given permission to launch a blockchain-based bond exchange in Singapore. Northern Trust will custody tokenized bonds and conduct transactions with the regulator’s oversight. If the pilot is successful, the bank plans to also participate in the development of BondEvalue’s business model. 

Article Produced By
Crypto News

https://www.coindesk.com/northern-trust-testing-fractionlized-bonds-on-blockchain

Chris Corey

Bitcoin Falls as Yuan Strengthens

Bitcoin Falls as Yuan Strengthens

 

                                 

Bitcoin has been falling slightly, dropping this week from $9,000 to $8,600 and down from last month’s $10,000.

Why it has turned somewhat downwards since the 24th of June when it reached $14,000 is not too clear, but it may be just profit taking after a very fast rise during spring and summer:As it stands, the chart is a bart, back to the circa $8,500 support level where it saw the biggest recent green candle upwards, and red candle downwards.

Where it goes next is anyone’s guess, but besides mere speculation, the rise and fall might also be due to Yuan’s fall and now slight rise: What we have here is bitcoin and CNY moving in tandem during spring and summer. CNY then falls further, with USD’s value against it up and up, but bitcoin doesn’t follow presumably because it had already risen and gone too far or who knows why. Now for this month CNY has strengthened a bit, with bitcoin so falling somewhat, but China’s economy is weakening and considerably.China’s growth has been falling, but more importantly, its inflation is rising significantly.

The big jump in October stands out, but even more stands out its rise from the beginning of the year at 1.5% to now 3.8%. That means real growth in China is at just 2.2%, far lower than the 5% plus they’re used to. Part of that is because arguably they’ve devalued too much, but also perhaps because the low hanging fruits have been caught already, so there might not be too much more room for productivity to increase the economy. There’s also the tariffs, with a trade deal apparently nearing an agreement , but China might be falling to the same trap as Japan before them and the west now, the trap of monetization.

Article Produced By
Crypto News

https://www.trustnodes.com/2019/11/14/bitcoin-falls-as-yuan-strengthens

Chris Corey

Digital Marketing – Inbound Marketing Same But Different?

Digital Marketing – Inbound Marketing
Same… But Different? 

In the world of online marketing, we encounter a lot of jargon. Terms like inbound marketing, SEO, digital marketing, conversion, PPC, call-to-action, outbound, content marketing and so on. One that many find confusing is the difference between digital marketing and inbound marketing. 

On the surface, the two seem similar: Both occur primarily online, and both focus on creating digital content for people to consume. But there is a difference, albeit you undoubtedly use some digital marketing tactics in your inbound marketing strategy. 

The term "digital marketing" doesn't differentiate between push and pull marketing tactics or what is referred to as ‘inbound' and ‘outbound' methods. Both still tend to fall under the umbrella of digital marketing.

 

Digital Marketing 

The term digital marketing is often defined as an across-the-board marketing tactic that’s done on a digital medium. Digital marketing is the use of the internet, mobile devices, social media, search engines, display advertising, website banners, and other channels with the aim to put a marketing message or advertisement directly in front of as many consumers as possible, regardless of whether it’s relevant or welcomed. There is a lot it can be used for, but the term really doesn’t indicate any sort of strategy. It’s more like a toolbox that has all the marketing tools you can utilize to be seen online, acquire more traffic and increase brand awareness. 

 

Inbound Marketing 

Unlike digital marketing, inbound marketing is a clear and prescribed marketing strategy that has definitive steps and best practices. Inbound marketing does use a lot of digital marketing channels, however, it’s a set methodology that works to attract qualified visitors and generate leads. It is a continuing, holistic strategy that embodies a set of specific steps. It’s more of a philosophy that puts customers first and the digital marketing tactics help you to achieve that philosophy. 

 
Brand awareness + Short term goals = Digital Marketing

If your goal is to get your brand out there and get just anyone to visit your website, then a few digital marketing approaches may help. Using digital marketing methods alone only works to solve short term goals like increasing traffic to your website. 

For example, you can run a Facebook Like campaign or place banner ads, but those techniques alone will only produce results that are limited to those actions. A Like campaign will almost surely get more likes and banner ads might get more people to your site but that’s about the extent of it. If you’re wanting to generate leads that convert to legitimate, qualified customers, an inbound marketing approach is a proven way to go.

 

Qualified leads + Long term goals = Inbound Marketing

An Inbound Marketing strategy uses each of the digital marketing tactics and incorporates them into a greater strategy creating results of each tactic. Effective inbound marketing strategies consist of creating useful and interesting content that appeals to qualified leads. Developing landing pages and calls-to-actions that capture the contact information of the people who have shown an interest in what you are offering and deploy email campaigns that are relevant to those specific contacts. 

Ultimately you’ll have created a full strategy that makes each of the digital marketing tactics work hand in hand to create a whole that’s greater than the sum of its parts. This performs long term to continue to deliver qualified leads and boost your conversion rates over time. 
  
Inbound marketing is like playing the long game. it leads to more solid, consistent results, adding value at every stage of your customers’ buying journey. 

Digital marketing is playing the short game, where you get immediate results, but very often they’re not worth as much in the long term. 

 

Content Creates Trust

Content is an important component of Inbound Marketing. Blogging or writing articles of helpful information discerning their needs and defining a solution even if they aren’t aware they have a problem or a need initially, is a great way to build trust. Informative content that anticipates the prospects’ questions and needs is the best practice to demonstrate that you genuinely care about the consumer. 

A study showed that 78% of purchasers want to build genuine bonds with companies offering customized material, which is content that has been created specifically for the customer that has purchased.  Another report demonstrated 53% of consumers were more willing to buy goods and services if they previously read an article about it on the internet.  Needless to say, this applies to all types of conversions in any industry.

Content Is The Best Approach To Millennials

The main consumer segment will very soon be the millennials which are people born from the 1980s to the early 2000s. One of the standout features of this generation is that they do not trust traditional advertising. They don’t even notice it. Traditional advertising fails to speak the language of generation Y, but blogs or articles do. 

 

But It’s Not Just The Younger Generations 

Many studies have been conducted involving thousands of men and women of all ages which demonstrated that most of them do not even closely trust advertisements alone.

70% of people made the decision to purchase on the advice of a friend or family member or because they saw the blog post about the company on the internet.

55% purchased after reading an article online. In fact, 70% of buyers prefer to learn about the company from articles, not from an advert. 

If we want to appeal to all customers of today, we need to produce engaging content and have it in front of our audience wherever they may be. Fundamentally, the real value of informational content is the fact that it is portable. In other words, being viewed on many different platforms creating an overall presence and exponentially increasing your reach. Creating quality content is a good investment and you will feel the effects of your investment for a long time to come.

New Era, New Attitudes, New Technology

We saw how the internet changed traditional offline marketing back in the 1990s. Now we will witness how Blockchain will transform the digital world in terms of marketing and advertising. The essential objectives of building trust and nurturing relationships will never change, but will Blockchain technology be able to clean up and enhance the industry?  

There are many ways that blockchain can assist marketers and consumers and improve a somewhat chaotic space. It can bring transparency and honesty to the marketing table that has been inundated with a huge amount of spam and bots. 

Greater transparency strengthens trust between brands and customers. One example is since Walmart and IBM collaboratively introduced blockchain, customer confidence increased.  Thanks to blockchain, Walmart’s supply chain became more transparent and customers were able to track the origin of the products.

Copyright Issues Solved With Blockchain

There is a solution to the copyright problem which gives more control tools to creators. Article 11 (link tax) and Article 13 legislation which is designed to stop users from uploading copyrighted content by forcing platforms to build massive filters or face huge lawsuits and fines, seems to be an archaic and inadequate solution and would impede online development and innovation. 

A more appropriate response is needed to protect not only artists and their creations, but also the platforms that enable mass content sharing. Platforms that have shaped the internet and have connected our world more inclusively and comprehensively.

Markethive with its blockchain in development and broader vision gives you your own domain for all your content, videos and images to originate from. When you join Markethive you receive (for free) a CPanel which is a control panel and WordPress system built into your assigned domain, a subdomain of hivesfeed.com. This way you control all your content, without the worry or hassles of government overreach and anti-freedom regulations designed to stifle the small entrepreneur. 

It is a marketers dream and a complete solution. Markethive has integrated the digital marketing tools along with an inbound marketing system and it’s built on the blockchain, giving you privacy, transparency, freedom of speech and the autonomy you need to overcome any obstacles experienced on the internet today and let’s not forget you get paid for using the system while marketing your business. 

Blockchain Gives You The Edge

The internet has become so noisy that it’s not that easy to attract attention. Furthermore, there are so many platforms and choices willing to assist you in your marketing efforts. You need an edge and Blockchain can give you that edge. Companies that have adopted the blockchain technology can offer cryptocurrency in the form of loyalty programs, micropayments, etc which levels the playing field bringing new ways to earn an income

 

Is Blockchain Harmful to Marketers? 

The only way blockchain can harm marketers is if they refuse to accept and learn about this new technology and become proficient at it. This is just the beginning. In the early 90s, no one even dreamed of search engines, social media, and smartphones. Today, blockchain takes us to new heights of self-sovereignty as the possibilities of Blockchain Technology and Cryptocurrency are almost endless.  

 

Conclusion

It is an exciting time in marketing, as marketers start to realize the benefits of blockchain technology. Above is an outline of just some of the ways it will transform the marketing industry. Additionally, there have been numerous studies asserting that blockchain technology is destined to disrupt the fundamental nature of the global economy, including major changes like:
How organizations are funded and managed, how companies create value and how businesses perform basic functions such as marketing, accounting, and incentivizing people. 

 

 

ecosystem for entrepreneurs

 

 

Deb Williams 

A Crypto/Blockchain enthusiast and a strong advocate for technology, progress, and freedom of speech. I embrace "change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals. 

 

 

 

Chris Corey

Three Fronts in the Global Digital Currency Wars

Three Fronts in the Global Digital Currency Wars

                                 

Jeremy Allaire is co-founder, CEO and chairman of Circle, a global financial services company that provides a platform for individuals, institutions and entrepreneurs to build businesses, invest and raise capital with open crypto technologies.

The views expressed here are his own.

The past several months have brought dramatic new technology, market and regulatory developments in the cryptocurrency sector, with major global technology and state actors pushing forward digital currency initiatives. These new initiatives are forcing global leaders everywhere to ask what the role of digital money will be in the next decade, and are ultimately a proxy for shifts in the broader political and economic landscape that are going to re-shape the future of the international monetary system.

Deep, fundamental digitalization of the economic system is now well underway as blockchain infrastructure moves from the fringe and early adopters and into the spotlight of major nation-state actors. Synthetic, crypto-powered central bank money tokens, and the introduction of smart contracts that can represent and tokenize other real-world financial assets and contracts are on the rise around the world. These rapid changes are leading regulators everywhere to grapple with an economic system that is beginning to mirror the open, global and connected internet of information and communications.

At the foundation of these shifts is the rapid development of public blockchain infrastructures, such as ethereum, which allow market participants to issue cryptocurrency tokens representing fiat currencies and other financial assets. This “base layer” of trusted computing, record-keeping and transaction processing can be compared to the base layer of TCP/IP and HTTP, protocols that allowed the vast global internet to come into everyday use. There are now several competing approaches to building a new financial system on this infrastructure.

1. Open finance

The first is represented by crypto-native ecosystem players, including Circle and Coinbase, who are building fiat-backed stablecoins such as USD Coin (USDC) on top of public blockchains. These developments are enabling a broad base of developers and companies to build higher-level financial constructs such as decentralized lending and credit markets, payments services and tools for trade finance. Regulated by existing payments banking rules in the US and EU, these private market-based approaches are growing rapidly and help to form a pillar of the open finance movement.

2. Government-run

The second approach is best represented by China’s forthcoming Digital Currency Electronic Payment (DCEP) infrastructure, which aims to build an entirely controlled, centralized and permissioned infrastructure for a digital currency version of the Chinese RMB. While likely appropriate for the Chinese economic and political model, this approach flies in the face of the open internet ethos and is not likely to receive much of an enthusiastic response from the broader internet development community.

3. Private consortia

The third approach, anchored in the proposed Libra Association and Libra Reserve Currency, attempts to build an “over the top” synthetic global digital currency. Like China’s effort, the Facebook proposal creates a centralized, permissioned infrastructure for this payment system, which will radically limit how open and accessible the infrastructure becomes for developers and companies wanting to build on top of it.

Competing worldviews

In each of these approaches, we can extrapolate a fundamental worldview. With the first, do we want an open financial system built on the public internet that allows value to move freely and easily anywhere in the world with strong privacy protection, one that enables people and companies to build financial arrangements in code, enforced by public blockchain infrastructure and enabling commerce and transaction arrangements between people everywhere? In short, do we want a global financial system built in the image of the internet?

Or, if the world embraces the Chinese approach, do we want a world with tightly controlled access to innovation in the financial system, with extremely tight controls on where capital moves and who can access the system? Such a system may enhance efficiency and global reach for the Chinese RMB. But will it mirror the tightly controlled internet that exists in China today? Will it be offered on equal terms to people and companies globally who seek to transact with China?

The worldview put forward by Facebook and Libra suggests a new global financial system that is controlled and run by the largest private companies in the world. And rather than building on existing sovereign money, the Facebook construct seeks to create a new global currency that stands above the state. Do we want a new global financial system controlled by a few private companies, where permission to participate and innovate is mediated on a closed infrastructure?

The largest governments in the world, especially those responsible for major global trade currencies, must now grapple with the innovation of public cryptocurrencies that have the reach of the global internet. The choices they face, and the decisions that are ultimately made by relevant policymakers, will have a dramatic impact on what our future global economic system looks like. Meanwhile, while governments study and debate these topics, bit by bit and block by block, technical innovators all around the world are using crypto to rebuild the global economic system in front of our eyes in a marvel of human ingenuity.

Article Produced By
Jeremy Allaire

Jeremy Allaire is co-founder, CEO and chairman of Circle, a global financial services company that provides a platform for individuals, institutions and entrepreneurs to build businesses, invest and raise capital with open crypto technologies. He has co-founded and led multiple global internet technology firms with thousands of employees, hundreds of millions of consumers served, and multiple successful public offerings on NASDAQ.

https://www.coindesk.com/three-fronts-in-the-global-digital-currency-wars

Chris Corey

ASX-Listed DigitalX Seeds New Fund With Half Its Bitcoin Holdings

ASX-Listed DigitalX Seeds New Fund With Half Its Bitcoin Holdings

                                    

 

The first ever cryptocurrency firm to be listed on a major stock exchange has launched a new bitcoin fund.

DigitalX, which debuted on the Australian Securities Exchange (ASX) under its previous name DigitalBTC as far back as 2015, announced the new fund on Wednesday. The firm said it’s offering qualifying wholesale and professional investors such as family offices and high-net-worth individuals exposure to the cryptocurrency via a “standard unlisted fund structure” without the effort and risk of holding it directly. DigitalX executive director Leigh Travers

said in the announcement:

“DigitalX has held its bitcoin position through the 2017 bull market and 2018 drawdown because of our fundamental long-term belief in the value of the asset. What has become more and more apparent to us as we speak to investors and market participants generally, is that there is a growing interest in accessing bitcoin from people who have traditionally not considered investment in digital assets.”

To get the fund off the ground, DigitalX will provide 215 of its total 431 bitcoin, valuing its investment at around US$1.89 million at current prices. The firm said it aims to quickly grow the investment vehicle and hence its funds under management, and will see income via the fees receivable from the fund. Management fees are disclosed as being set at 1.65 percent annually, while no performance fees will be charged. The fund’s holdings will be secured via custody services provided by insurance-backed BitGo. DigitalX further plans to use “blockchain-based security” for the registration and transfer of units in the fund.

The Bitcoin Fund is licensed and administered by Boutique Capital, which is also the licensee of DigitalX’s existing indexed crypto fund. Launched last April, that fund was said to give exposure to “leading” crypto assets and potentially ICO tokens. DigitalX, following a move into bitcoin mining that was later abandoned, has morphed into a company offering blockchain consulting and development services and asset management. It’s not been without its controversies, having been taken to court by investors over an ICO for which it acted as adviser. Its former executive chairman was also indicted by the US government for alleged involvement in a fraudulent text messaging scheme.

Article Produced By
Daniel Palmer

One of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 600 stories for the site. When not writing or editing, he likes to paint, play guitar, hammer hot steel and spin clay. Daniel holds a small amount of BTC currently

https://www.coindesk.com/asx-listed-digitalx-seeds-new-fund-with-half-its-bitcoin-holdings

Chris Corey

Opinion: Europe Must Embrace Blockchain to Avoid Cybercolonization

Opinion: Europe Must Embrace Blockchain to Avoid “Cybercolonization”

                               

On September 27, the EU Competitiveness Council met in Brussels to discuss how to support Europe’s digitization,

particularly with regard to artificial intelligence — an area that has tremendous potential, but also faces extreme global competition. AI, of course, runs on data. The unfortunate reality is that U.S. tech companies control and exploit large amounts of European data, in turn monopolizing our digital economy.

That’s why I, among 16 other executives, signed a letter to the council’s ministers—who engaged in a public policy debate and “competitiveness check-up” at Thursday’s meeting—urging a focus on these monopolies and the unfair business practices they get away with, from the exclusion of third parties to spontaneous changes to terms and conditions to unjustified interference, to name a few. There are alternatives to giving away the data, and thus, sovereignty,—something I emphasized as part of the National Digital Council in France and as the leader of numerous working groups focused on AI and privacy.

France, for one, has worked hard to attract major foreign investment in this space, opening AI hubs while seemingly ignoring the fact that Google, Apple, Facebook and the like don’t pay taxes in the country, yet still extract significant wealth from it. This hurts innovation and many local startups working hard to improve the region. London, Paris, Berlin, and Zug are popular tech destinations, yet they often get overshadowed or pushed out of the market because of the dominant U.S. players.

Google, of course, dominates web search market, conducting 77% of all internet searches and processing 400,000 every second—gathering significant amounts of data in the process. Such dominance means, as AI specialist Cedric Villani aptly put it, that large foreign companies threaten Europe with “cybercolonization.”

Online platforms that mediate buying and selling account for a whopping 60% of the private consumption of digital goods and services. Europe cannot be lax and blindly open its market to foreign platforms who are only creating monopolies. Their goal is to lock both buyers and sellers into their ecosystem—to be the central point of the majority of digital transactions. This level of centralization has become synonymous with a dependency on tech oligopolies, and a lack of country sovereignty. Even the “local” companies we think we have working in AI are often very dependent on U.S. tech.

The good news is that every problem that exists with closed, proprietary marketplaces and platforms can be solved easily with blockchain. Through the GDPR, Europe and France have already been the first to regulate data privacy, protecting both individual rights and digital sovereignty from foreign tech giants. Blockchain—which in fact has developed faster in Europe than in Silicon Valley—can take this a step further, and can transform Europe in to the next Crypto Valley. Decentralized AI means that algorithms run directly on end-user devices, preventing sensitive data from being sent to the cloud at all.

Also, rather than having an intermediary between people buying and offering digital goods and services, blockchain allows peer-to-peer marketplaces. These marketplaces often have no fees, meaning all of the value can be captured by buyers and sellers. On the other hand, when U.S. tech giants hold a monopoly they can charge significant fees, force certain types of payments, and coerce end-users in a myriad of other ways. With a decentralized approach, no single person or company controls the content. The suppliers and buyers decide for themselves what should be included in the marketplace.

It can be tempting to want to make Europe attractive to some of the biggest names in tech and AI, but we must recognize what we are sacrificing by doing so. Many local startups can’t compete because having a monopoly means you can, more or less, do whatever you want—even if that means engaging in unfair business practices or doing things that are good for your bottom line but bad for actual users. One way to avoid such cybercolonization, though, is to embrace decentralized technologies. They’re the key to both innovation and sovereignty.

Article Produced By
Dr. Rand Hindi

Dr. Rand Hindi is an entrepreneur and data scientist. He is the CEO at Snips, the first decentralized, private by design voice assistant.Rand started coding at the age of 10, founded a Social Network at 14 and a web agency at 15 before getting into Machine Learning at 18 and starting a PhD at 21. He has been elected as a TR35 by the MIT Technology Review, as a "30 under 30" by Forbes, and is a lecturer at Sciences Po in Paris.

https://cointelegraph.com/news/opinion-europe-must-embrace-blockchain-to-avoid-cybercolonization

Chris Corey

Unilever O2 and Sky Join Blockchain Pilot for Digital Ad Transparency

Unilever, O2 and Sky Join Blockchain Pilot for Digital Ad Transparency

                                 

Unilever, O2 and Sky are among the latest big firms to sign on to Jicwebs’ blockchain pilot program designed to improve trust and transparency in digital advertising. The news was revealed in a Nov. 12 report from United Kingdom-based industry magazine Campaign.

Industry involvement

Jicwebs — an acronym for the U.K. digital ad trading standards body, the Joint Industry Committee for Web Standards — first announced its blockchain pilot initiative in May 2019. It counts the participation of major global media agencies Zenith, OMD UK and Manning Gottlieb OMD, who have been evaluating the potential for blockchain technology to bolster transparency in the sector and increase operational efficiency. According to Campaign’s report, the U.K.’s popular online platforms Gumtree, Netmums and Rightmove have also all signed on to the project.

To complement the Jicwebs pilot, ISBA — an entity representing the U.K.’s leading advertisers — is also conducting an end-to-end audit of some of the problems that plague the digital ad sector, notably in regard to trust and brand safety. Richard Reeves, managing director of the Association of Online Publishers, said that the body welcomes “all initiatives that increase transparency for our members and shed light on where advertising spend is being distributed across the digital supply chain." If the pilot proves successful, Jicwebs reportedly plans to consult the digital ad industry on how to implement the blockchain solution in 2020.

An embattled industry

As previously reported, McDonald's, Nestlé and Virgin Media joined Jicwebs’ initiative this July. Blockchain technology is increasingly gaining traction in a sector that is battling the increasing threat of fraudulent activity, “deepfakes” and opaque financing. In late 2018, major Japanese car manufacturer Toyota partnered with blockchain advertising analytics firm Lucidity to reduce fraud in its digital ad campaign buys.

Article Produced By
Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/unilever-o2-and-sky-join-blockchain-pilot-for-digital-ad-transparency

 

Chris Corey

China Scraps Plan to Categorize Bitcoin Mining as Industry to Be Eliminated

China Scraps Plan to Categorize Bitcoin Mining as Industry to Be Eliminated

                                  

More than six months after the China National Development and Reform Commission proposed to categorize bitcoin mining as an industry to be phased out from the country,

it appears the agency has now scrapped that plan. The National Development and Reform Commission (NDRC), a top-level economic planning agency under China’s State Council, published a finalized new Catalog for Guiding Industry Restructuring on Wednesday that will take effect from Jan 1, 2020.

In the final version, which will replace the current one published in 2011, the agency has removed bitcoin mining or other virtual currency mining activities from the initially proposed category of industries that should be eliminated from China. Description related to virtual currency or bitcoin mining can’t be found in the finalized catalog. Formally established in 1998, the NDRC is now one of the 26 cabinet-level departments which all together form the State Council of the Chinese central government. The main role of the NDRC focuses on studying and penning economic reform strategies and policies to be executed at local level governments. The NDRC first published its industry reform catalog in 2005, grouping industrial sectors into three types – those the agency advises the country to encourage, restrict or eliminate.

The initial draft of the latest catalog update was released in April this year, which classified “virtual currency mining, such as the production process of bitcoin” under the category to be eliminated. The move was taken at the time by many, including major news outlets, as a signal that China was planning to ban bitcoin mining even though the policy itself does not automatically mean a bitcoin mining ban. The revision of the draft plan comes after a months-long period of public consultation. During a NDRC press conference on Wednesday, officials said since the release of the initial draft, the agency has received over 2,500 suggestions on various issues, most of which were taken into consideration, although the officials did not comment on any particular suggestion related to bitcoin mining.

Article Produced By
Michael Williamson

Michael Williamson is a content marketer who formerly worked out of Unbounced's Montreal office. A writer by day and a reader by night, he is loathe to discuss himself in the third persona, but can be persuaded to do so from time to time.

https://www.icogeeker.com/china-scraps-plan-to-categorize-bitcoin-mining-as-industry-to-be-eliminated/

Chris Corey