Messaging On Blockchain Coming To Markethive

Messaging On Blockchain
Coming To Markethive 

Messaging doesn’t just refer to messaging apps. Digital communication accommodates endless formats and necessitates complex support systems to be able to maintain security and service durability and continuity. It is difficult to achieve across the board because of a lack of standard security. With Blockchain Technology now coming to the fore some new companies are integrating the blockchain to build a better communication infrastructure. This will create a secure ecosystem for messaging services.

 
What Is Blockchain In Simple Terms?

The blockchain is a decentralized ledger of transactions recorded using cryptography. The entries or blocks are then distributed across many computers running on nodes in a P2P environment making it impossible to alter the information later.

Blockchain was designed to be used mainly in the financial sector of digital cryptocurrency. It has since then evolved to record anything of value, create self-executing smart contracts, and build decentralized apps (DApps) like chat messengers.

Why not use Discord, Messenger or WhatsApp? Because these apps are still centralized and owned by a single entity who may choose to do what they deem fit. This creates trust issues. Decentralization is the road ahead.

The Benefits Of Blockchain

Blockchain offers many advantages over traditional systems. First is immutability. Once something gets recorded, it is almost impossible to change it because a decentralized database of computers and blocks are involved.

Because information blocks are shared and stored across a network of nodes run by people, no single person or entity has complete control over it. This reduces the risk of one person or entity manipulating the records without others knowing about it.

It also eliminates the risk of a single point of failure. If all your data is stored in a single system and the system fails, you lose everything. A distributed ledger eliminates this risk. Each encrypted entry is visible for everyone to assess, bringing transparency and accountability to the system.

Finally, the new generation chat apps are also integrating cryptocurrency wallets into their offering. This allows users to send and receive money, just like messages, only freely or with minimal transaction and processing fees.

A new era of Blockchain-based chat messenger apps that offer features like security, privacy, and P2P currency is here.

Markethive Messaging App

Messaging is an integral part of the Markethive interface. Both integrated via your Wallet App and also part of the dashboard both reflecting on each other. Several features set the Markethive messaging apart.  There are Directories, that being the ability to create directories for organizing chats according to your agendas, ideas, groups, news, etc. It also gives you the ability to pin group discussions in accordance with priority. All app messaging is encrypted and runs on the blockchain assuring total privacy and security.

 

Markethive Chat Box 

The Chat Box is a variety version of Twitter however, it allows viewing of the entire social sphere with many filters to only view specific members, or groups, countries, terms, keywords or time periods, built to give each member a cultural pulse of the entire system as an option, also developed to act as a mentor thread as only Entrepreneur upgrades can post. All can view and comment. 

Nicknamed the Trollbox, it is essentially a real-time “Markethive” educational/informational consensus network by which “Trolls” (Entrepreneurs) can be both the teacher, journalist, pundit and student all at once, while interacting with others, including free members, in real-time by chat and/or posts. 

 

Markethive’s Focus 

We are focused on providing a Universal type of income for aspiring entrepreneurs. We believe sharing our resources with you as you build your business and seek to reach your goals, benefits all of us. 

We welcome all to our collaborative world of the Entrepreneur, the Markethive, built for you, by you and with you.

 

ecosystem for entrepreneurs

 

 

Deb Williams
Market Manager & Senior Writer for Markethive, a global Market Network, and an avid enthusiast for the Crypto/Blockchain Industry. Also 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. 

 

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Chris Corey

Alexa Ranks Electroneum among Top Five Cryptocurrencies Ahead Of XRP Tron

Alexa Ranks Electroneum among Top Five Cryptocurrencies Ahead Of XRP, Tron

                            

In spite of the pullback witnessed on the market table,

Electroneum is proving that it is not a dead project. Electroneum continues champion the record of project with the largest initial coin offering (ICO) with over 115K participants. The support garnered from the community birthed another blissful development. Report has it that Alexa, an offshoot of Amazon.com company, rated Electroneum among top 5 cryptocurrency after Bitcoin, Litecoin, Bitcoin Cash and Stellar. According to Alexa, Electroneum saw 322,000 average visitors and 1.78 million pageviews last month, making it rank among top cryptographic projects ahead of the likes of Tron, XRP

and others.

 “We aim to run a fully transparent project and continue to undertake initiatives towards this goal. It’s for this reason, last year, we installed Alexa certified metrics code onto our website”, Electroneum CEO Richard Ells clarified. “We’re incredibly proud that Alexa continues to rank our project in the top five cryptocurrency projects by website visitor numbers, amongst other leading projects including; Bitcoin, Litecoin, Bitcoin Cash and Stellar.”

Electroneum project’s transparency is also a backbone behind this success. Within the space of two years which the crypto had existed, its user-base had reached 3.2+ million worldwide.The engagement of the blockchain project has also increased by 150% since July with 122,000 followers.

Article Produced By
Khalid Lawal

I am a lifetime Entrepreneur, Contributor @Thrive Global, @Oracle Times, @Coin Gape. Khalid Lawal is a lover of Blockchain technology and a junior analyst. • Hopes to be a venture capitalist one day.

https://todaysgazette.com/alexa-ranks-electroneum-among-top-five-cryptocurrencies-ahead-of-xrp-tron/

Chris Corey

15 Days Challenge: Tron Goes Live On Uphold With 24 Hours Zero-Exchange Fee on TRX

15 Days Challenge: Tron Goes Live On Uphold With 24 Hours Zero-Exchange Fee on TRX

                                 

The team behind Tron blockchain technology and its supporters

have just made the crypto ecosystem perceive their commitment towards the growth of the cryptographic project and its token TRX. Tron (TRX) has just gained attendance on a renounced crypto trading platform which has presence in over 184 countries of the world, Uphold. The development was announced by Uphold with respect to a 15 days challenge between cryptographic projects.

The declaration affirmed that Tron is the first coin to emerge from the latest challenge. Furthermore, the trading platform averred that it would celebrate the achievement alongside Tron and its community by initiating 24-hours of ZERO exchange fees for buys on TRX.Uphold, after the announcement, praised Tron (TRX) blockchain technology for its scalability and speed, describing it as a necessity in the entertainment industry.Founder Justin Sun also acknowledgment the news by declaring his excitement for the realized success. While the challenge continues, 14 other coins are expected to land on the platform.

Tron Surpasses $80 Million Transaction

According to Tronscan, the total number of transactions performed on Tron blockchain network has surpassed $80 Million after reaching 80,086,992. Increased transaction volume and user-base have been a major focus of the team behind the blockchain network. However, Tron continues to make huge stride in the Dapp industry as the blockchain network incessantly features on headlines. The latest report from the industry reveals that the volume of transactions performed on Tron in the last 7 days doubled that of EOS and Ethereum.

Article Produced By
Khalid Lawal

I am a lifetime Entrepreneur, Contributor @Thrive Global, @Oracle Times, @Coin Gape. Khalid Lawal is a lover of Blockchain technology and a junior analyst. • Hopes to be a venture capitalist one day.

https://todaysgazette.com/15-day-challenge-tron-goes-live-on-uphold-with-24-hours-zero-exchange-fee-on-trx/

Chris Corey

Breaking: Bitcoin BTC Price Tumbles then Recovers Past 10k Amidst US Regulatory Warnings

Breaking: Bitcoin (BTC) Price Tumbles then Recovers Past $10k Amidst US Regulatory Warnings

Bitcoin lost $500 and gained over $1,000 within hours following US regulatory warnings.

                              

Bitcoin, in classic fashion, once again rocked the markets today after

it dropped sharply following US government’s regulatory warnings, only to recover even faster and crossing the $10,000 psychological barrier. This week has generally been tough for Bitcoin given how Facebook’s Libra project has not done well at US Congressional hearings, where several concerns were raised regarding the tech giant’s issues with trust, data protection, and privacy.

Today, when US Treasury Secretary Mnuchin was asked about Libra, he reiterated the government’s concerns and revealed that members of the G7 had the same concerns, particularly about Facebook’s Libra and its impact on financial stability. However, Bitcoin tumbled after Mnuchin said some of the concerns applied to the leading cryptocurrency and that the government will be ensuring that Bitcoin does not become the equivalent of

Swiss accounts (money havens).

We’re going to make sure that bitcoin doesn’t become the equivalent of Swiss-numbered bank accounts, which were obviously a risk to the financial system,” he said during an interview with CNBC.

Following his statement, Bitcoin price went from $9,800 to $9,300 as fear gripped the market in anticipation of stricter legal measures surrounding Bitcoin and cryptocurrency transactions and trading. However, Bitcoin defied the pressure shortly afterward, with consecutive green candles helping it shoot past the previous $10,000 resistance. Bitcoin is currently trading at $10,400 as a result of this volatility. That being said, this price move cannot be considered a definitive reversal and should be approached cautiously, as it could just end up being a bull trap.

Article Produced By
Hunain Naseer

A tech enthusiast and an early crypto investor, Hunain has been holding LTC for years now and believes the crypto space hasn’t seen real highs yet. He is always looking at new and upcoming coin offerings from an investment point of view and can’t stop pushing his friends to join the crypto revolution.

https://cryptovest.com/news/breaking-bitcoin-btc-price-tumbles-then-recovers-past-10k-amidst-us-regulatory-warnings/

 

Chris Corey

Binance Expands Tether USDT Pairs Prepares Passive Income Surprise

Binance Expands Tether (USDT) Pairs, Prepares Passive Income Surprise

The leading exchange is still among the top markets for USDT-based trading, expanding its pairs to several altcoins.

                                  

Binance will expand Tether (USDT) pairs to several altcoins,

setting up new channels for liquidity flows. Trading will start this August 27 for the following pairs: DENT/USDT, MFT/USDT, KEY/USDT, STORM/USDT, DOCK/USDT, WAN/USDT, FUN/USDT and CVC/USDT. Some of the coins listed are relatively obscure or have been forgotten in the latest altcoin slump, such as Civic (CVC) and FunFair (FUN). WanChain (WAN) is currently having something of a revived interest.

The USDT stablecoin has continued to expand its influence, while becoming instrumental for price discovery for multiple assets. USDT now takes up more than 34% of all crypto-to-crypto trades, displacing Bitcoin (BTC) from its leading position. Even as a part of multiple base pairs, BTC takes up around 30% of all trades, and USDT has marked significant growth in the past few weeks. Despite the increased prevalence of USDT pairs with altcoins, prices remain depressed and the assets are extremely risky and volatile. Binance has issued a warning in setting up the new pairs. The exchange may announce new changes to allow for passive income, at least as hinted by its CEO,

Changpeng Zhao:

Would you like to earn #crypto while you sleep?
Keep an eye on @binance today.

Following the news, Binance Coin (BNB) inched up slightly to $26.95, managing to keep most of the year’s gains, though weakening from its recent peaks above $34. Binance has just completed the Perlin (PERL) token sale, with expectations of launching trading soon. In the past, Binance did not grant USDT pairs to newly listed assets, but now, almost all new additions receive stablecoin pairs, including smaller stablecoins such as TrueUSD (TUSD) and USDC. Currently, USDT coins flow into BTC and a handful of major altcoins, but there is also a lively trade with Paxos Standard (PAX) and TUSD, which are fully backed by fiat and offer a way to liquidate funds.

Article Produced By
Christine Masters

Business writer with a knack for bubbles and market madness. Has tracked it all: the financial crisis of 2008 and the implosion of Lehman Brothers; bank bailouts and peak gold and silver, penny stocks…and now Christine has moved to cryptocurrencies for fresh stories.

https://cryptovest.com/news/ethereum-classic-etc-shows-price-strength-ahead-of-hard-fork/

Chris Corey

Catalysts That Could Bolster Bitcoin And Markethive Coin To The Moon

Catalysts That Could Bolster Bitcoin And Markethive Coin To The Moon. 

Although Bitcoin, the king of cryptocurrencies, is seen as volatile in its price action, it could be considered as an evolution into a sovereign financial global status. As more people understand that Bitcoin and its ecosystem are exponential technology, this scarce, deflationary, immutable, trustless, geopolitically neutral payment network is the most prominent financial innovation of a lifetime. 

According to one respected analyst now stating that Bitcoin’s forthcoming halving event could compel Bitcoin towards and even surpass its previously established all-time highs. Historically Bitcoin’s halving has lead to 100% + gains and as PlanB, a popular cryptocurrency analyst explains in a recent tweet, at the time of 2012 halving when BTC was at $5, it rose to $12, which is a gain of 140%. Likewise with the 2016 Bitcoin halving which led its price from $314 to $627 which is close to a 100% surge. 

By the time of the next halving which is in 9 months and assuming that history repeats itself, it’s a real possibility and fair to assume the 2020 halving will lead to a price surge of a corresponding volume. This means given the current price of $10,100, BTC could well be trading anywhere between $20,200 and $24,240 in nine months' time. 

Another Catalyst Just May Boost Bitcoin

What about the growing instability in the global markets? Could this also be an impetus to actually assist Bitcoin to reach new highs? With the loss of faith in global leaders, the banking cartel, along with decisions being made, there’s little wonder more people are turning to Bitcoin and other strong cryptocurrencies.

Marty Bent, a popular figure within the crypto industry has this to say, 

 “Imagine not having any skin in Bitcoin right now: Trump is at war with China and the Fed. Mark Carney is calling for the end of the USD as the reserve currency of the world. Weaker currencies like the Argentine Peso and Turkish Lira are crumbling. Chaos. Everywhere,”

He explains that growing instability in the global markets makes investing in BTC a no-brainer. 

It is well-known Bitcoin is the first cryptocurrency and considered king. Some have argued that other strong cryptos will take over in due course. I see Bitcoin as a conduit and can work synergistically with altcoins with substance, allowing them the transferability and liquidity needed to increase velocity.  The ones with a true purpose will make their mark in crypto industry history. Indeed, in recent months many altcoins with a lower-quality and haven’t been popular have been delisted from exchanges. But the strong will survive. Who are strong and why? 

Is Ethereum Akin To Bitcoin? 

Well, they sort of are, but not really. The purpose of Ethereum differs from Bitcoin. They are both a distributed public blockchain network, however, there are some significant technical differences between the two. Notably, the most important distinction is that they differ in purpose and capability. 

The Bitcoin Blockchain is just one particular application of Blockchain technology. It is fundamentally a peer to peer payment system. The Ethereum Blockchain focuses on running the programming code of any decentralized application. To put it simply, Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications. 

Bitcoin is first and foremost a “Currency”. Blockchain is to Bitcoin what the Internet is to Email. Blockchain is a big electronic system in which you can build all sorts of applications suitable for any industry, including centralized entities, meaning any services that are centralized can be decentralized on the Ethereum Blockchain. 

Currency [as in Bitcoin]  is just one use-case in the bigger scheme of things. 

The Ethereum Blockchain has some extraordinary capabilities. Just one of those is the Smart Contracts. It’s a contract that completely handles the enforcement, the management also performance and payment. A smart contract is a phrase used and is described as a computer code that can facilitate the exchange of money, content, property, shares or anything of value. As smart contracts are run on the Blockchain, they run exactly as programmed and are not subject to censorship, fraud, downtime or 3rd party interference. 

 

Ethereum is also being used as a platform to launch other cryptocurrencies/altcoins. This is known as an ERC20 token and allows individual companies and developers to issue their own coin. 

 

Markethive Has A Strong Altcoin

One such company that has implemented the ERC20 token and Smart Contract is Markethive. This is in the form of the Markethive Coin [MHV] which is an actual Consumer Coin, not a token, and the Incentivized Loan Program [ILP – Smart Contract]. Markethive being the first Social Market Network built on Blockchain is attracting and gaining high-level exposure due to the nature and fabric of what Markethive stands for and delivers. 

Markethive is a complete autonomous ecosystem consisting of three components. Community, Technology, and Liquidity. Markethive has all three groups to bring this collaborative decentralized platform to life as a viable and lucrative platform where not only can they share in the success of the company, but also where its Entrepreneurial members can make a difference, not only in their lives but in the world. 

So the types of altcoins that will survive the crypto exchange purge are the ones with purpose, products, and services that can truly assist the people en masse. 

Markethive has been in Beta for the last four years due to the decision to convert to the blockchain and this was for multiple reasons…

  • To create its own asset coin as an instrument to Markethive’s Ecosystem for Entrepreneurs.
  • A Blockchain system to guarantee and deliver a secure system to each subscriber. 
  • To offer security to assure members they own and control their data, Markethive doesn’t. This ensures that no banning, shadow banning, and political agendas ever controls the network. 

 

MHV Now On Its Second Exchange

While we wait for Markethive’s internal exchange and wallet to be released, Markethive has listed its coin, MHV on a second 3rd party exchange. (Boltx.io) Coupled with the Markethive Exchange, this helps to create a true value of the coin as it can be traded against other coins. It’s getting the coin out into the marketplace where it needs to be for added viability. 

This time MHV will be airdropped by the exchange to all who create an account and trade. The Airdrop of 100 MHV has been scheduled to take place on September 5th, 2019 and end the same day. You have until Sept. 15th to activate by way of trading the coin with any other coin listed or top it up with extra and Hodl. All untraded MHV airdrops will be deducted and allocated to the top holders after that date. 

Go here to open an account https://boltx.io/trading/mhveth 

Wait for the Airdrop of 100 MHV and on Sept. 5th, trade or buy more MHV and hodl and let’s get this coin moving! 

 

Conclusion

Bitcoin and other respected altcoins will play a big part when it comes to liquidity and the ability to transfer and exchange to whatever currency you desire. So, in fact, they can work in synergy with each other, all with a similar but different purpose. It’s also a known fact that when the granddaddy of cryptocurrency, Bitcoin, rises, many altcoins follow suit. 

Markethive is making great strides with the implementation of brilliant technology and there’s so much more to come. Every day we are moving closer to launch and the realization of what we have here at our fingertips is becoming all too apparent with new members joining every minute and an ever-improving Alexa rank. At present, it’s now 14,759. Do you realize what this means!? The blessings upon Markethive are many.

And remember, Markethive is truly dedicated to your education, success, and sovereignty. 

 

ecosystem for entrepreneurs

 

Deb Williams
Market Manager & Senior Writer for Markethive, a global Market Network, and an avid enthusiast for the Crypto/Blockchain Industry. Also 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. 

 

FOLLOW US ON…
Website: https://markethive.com 
Token Site: http://markethive.io/ 
Telegram: https://t.me/markethive_support 
Twitter: https://twitter.com/markethive/ 
Github: https://github.com/markethive /  
Reddit: https://www.reddit.com/r/markethive/  
Crunchbase: https://www.crunchbase.com/organization/markethive
Medium: https://www.medium.com/@markethive
Bitcointalk: https://bitcointalk.org/index.php?topic=3309067.msg34535452#msg34535452 
Telegram News: t.me/Markethive
LinkedIn: https://linkedin.com/company/Markethive
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Youtube: https://youtube.com/Markethive

Chris Corey

Ethereum Foundation Unveils 2M Worth Funding for Development of Serenity ETH20

Ethereum Foundation Unveils $2M Worth Funding for Development of Serenity (ETH2.0)

As reported, the very first stage of the transition from Ethereum network’s to Ethereum 2.0

is expected to take place on January 3, 2020. As we near the launch of Ethereum’s Beacon Chain, the open-source blockchain developer unveiled grants of over $2M. The grants are to be allocated to development teams worldwide aiming at furthering the Serenity (Eth2.0) project. According to a blog post from the company, it has partnered with Protocol Labs and ConsenSys for the allocation of the grants. The announcement says that significant awards will be granted to the leading client development teams, who, at the moment, have been currently tasked with creating long-standing multi-client Test Networks (Testnets) as the launch of Phase 0 draws near.

The said funds are going to be distributed among nine companies and researchers. Companies that have received funding for client development include Harmony ($189K for Harmony beacon chain development), Prysmatic Labs ($725K for Prysm client development), Status ($500K for Nimbus client development), Sigma Prime ($485K for Lighthouse client development), Chainsafe ($217.5K for Lodestar light-client and javascript development), Whiteblock ($184K for ETH2.0 testing), Status ($500K for Nimbus client development). Status has also received $150K for nim-libp2p development. The team is creating a native nim-language implementation of libp2p for use in Nimbus and other projects.

The Ether Foundation, alongside these awards, has also declared allocation of 5 ETH bounties (or 1,000 units of DAI, USD-pegged decentralized stablecoin) for any technical recommendations that will enhance the functionalities of ETH 2.0 before the chain is launched. A series of bounties have also been offered for the Legendre pseudo-random function, which is expected to be a part of the forthcoming proof of custody scheme in Phase 1 of ETH 2.0. The winners of the StarkWare hash (SFH) challenge will also be rewarded. The challenge aims at evaluating the security of currently proposed SFH functions. It is proposed at four security levels: low-security, medium-security, target-security, and high-security in multiple scenarios.

Cryptocurrency analyst Dmitry Khovratovich was awarded $10K to present a report regarding the security of some aspects of the first version of ETH 2.0. Also, Chainsafe received $217.5K for developing its Lodestar light client and javascript. A lot of other initiatives have also been undertaken by Ethereum Foundation towards the development of decentralized protocols and tools that empower developers to produce avant-garde decentralized applications (dapps) that would result in an internet that’s more globally accessible, freer and more trustworthy.

Article Produced By
Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

https://www.cryptonewsz.com/ethereum-foundation-unveils-2m-worth-funding-for-development-of-serenity-eth2-0/39188/

Chris Corey

Dogecoin Suffers Under Market Pressure Price Hovers Around 00026

Dogecoin Suffers Under Market Pressure; Price Hovers Around $0.0026

Dogecoin has continued the downtrend in the market.

The coin is seen battling the market pressure but could reach above $0.0026. The entire altcoin market is seen dealing with the bear from the opening hour. There are not many expectations from the coin. The traders might be seen having a low day. Yesterday, Dogecoin was witnessed touching a high at $0.002829 and a low at $0.002640. The volume noted in yesterday’s chart was $22,974,750. Let’s have a look at how the DOGE is performing today.

Looking at the Dogecoin chart, we can observe a slight fall in the price of the coin. Yesterday, the Dogecoin price started dealing at $0.002666. The price jumped from $0.002666 to $0.002738 by 2.69%. The coin immediately slipped from $0.00273 to $0.00258. The regression marked was around 6.18%. DOGE price managed to return back to $0.002685 with a slight upside movement of 0.72% during the day. Today, the coin opened with a fall. The drop is noted to be of 5.52%. Dogecoin price changed from $0.002685 to $0.002537. DOGE has booked a fall of 1.43% from the opening price till now. The coin is currently dealing at $0.002651.

Current Statistics of Dogecoin:

Particulars Dogecoin
Price $0.002651
ROI 370.23%
Market Cap $317,942,748
24-Hour Volume $22,077,826
Circulating Supply 120,953,861,298 DOGE
Total Supply 120,953,861,298 DOGE

Dogecoin is started moving downwards due to current market pressure. Well, the downfall doesn’t seem to pass anytime soon. The intraday traders might be seen suffering today. Dogecoin has a high future prospect. Altogether, DOGE would give a high return on investment to the long-term traders.

Article Produced By
Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

https://www.cryptonewsz.com/dogecoin-suffers-under-market-pressure-price-hovers-around-0-0026/39187/

Chris Corey

Japan Wants to Rival SWIFT With a Cryptocurrency Network

Japan Wants to Rival SWIFT With a Cryptocurrency Network

Japan is a prominent country for blockchain and cryptocurrency activity.

So much even that government officials are building a new type of infrastructure. It is labeled as the “SWIFT of cryptocurrency”, although living up to those expectations won’t be easy. This new network will be used on an international scale and aims to thwart money laundering.

Japan Doubles Down

Over the past few years, Japan has become a key region for cryptocurrencies. It is one of the few countries to openly embrace this form of money and legitimize it. Several of the country’s biggest stores accept Bitcoin payments directly as well. This further goes to show Japan firmly believes Bitcoin is here to stay. Regarding altcoins, the situation is a bit less clear. Alternative markets are always hit-and-miss in every part of the world. To improve upon the existing situation, a new project is under development. The Japanese government confirmed it aims to build an international network for cryptocurrencies. This network is designed to mimic SWIFT in terms of cross-border partnerships and access. However, it will seemingly have little or nothing to do with traditional banks in that sense. It is evident that this new project will be very different from what the world has seen to date. 

Global Collaboration

Based on the little information provided to us, it seems the goal is to develop this project in conjunction with other countries. Which countries those would be, has not been communicated at this time. The Financial Action Task Force of Japan will set up a team dedicated to monitoring the development of this new network. How all of this infrastructure is designed to operate, remains a big mystery. Not too many details are known at this time. We do know the FATF approved a plan to establish a new network in June of 2019. At that time, there were rumors regarding the involvement of cryptocurrencies. Those rumors have now been confirmed. By claiming this network will rival SWIFT, high expectations are associated with it. Delivering on those expectations will not be easy by any means. 

Legitimizing Cryptocurrency One and for all

One thing is adamantly clear. Japan wants to push global cryptocurrency adoption to a new level. The main focus lies on bringing more security to this nascent industry. By actively addressing money laundering concerns, a crucial first step is taken in the right direction. Japanese officials also hope this network will stimulate economic growth in the country and beyond. Regulation and cryptocurrency make for an interesting combination. A lot of Bitcoin enthusiasts aim to keep these apart as much as possible. Others see merit in regulating this industry. How this SWIFT rival will factor into all of this, is a guessing game at best. It is certainly something worth keeping an eye on in the years to come.

Article Produced By
JP Buntinx

https://themerkle.com/japan-wants-to-rival-swift-with-a-cryptocurrency-network/

Chris Corey

Bitcoin Transactions Lead to International Drug Trafficking Ring’s Arrests

Bitcoin Transactions Lead to International Drug Trafficking Ring’s Arrests

Criminals often express their favoritism toward cryptocurrencies.

The perceived privacy and anonymity associated with this payment method makes for an excellent tool. In the US, the Treasury is now targeting Chinese drug kingpins. More specifically, they are monitoring Bitcoin revenue streams. That form of payment has become all the more prominent as time went by.

China, Drugs, and Bitcoin

The vast majority of drugs and other narcotics consumed in the United States is not home-grown. It is often imported from countries such as Colombia, Mexico, and in a fair few cases, even China. Particularly where opioids are concerned, Chinese drug dealers are playing an increasing role of importance. They are also involved in shipping fentanyl analogues and cannabinoids, among other substances. Several arrests were made in August of 2018. At that time, the US Attorney’s Office highlighted an indictment in federal court in Ohio. Two Chinese individuals – who are father and son – were charged with operating, manufacturing, and shipping various illegal substances. It is believed they served customer sin at least three dozen US states and over two dozen countries in total. It appears some of their business was conducted on the darknet, albeit exact details have not been provided as of yet. 

Organized crime groups – or even entrepreneurial individuals – will seek out payment methods which can mask their identity. Bitcoin and other cryptocurrencies continue to play an increasing role of importance in that regard. Although Bitcoin isn’t private nor anonymous, it is often perceived in such a manner. Most of the drug proceeds generated by these two Chinese individuals were laundered through multiple cryptocurrencies, including Bitcoin. To be more specific, the OFAC has monitored Bitcoin addresses allegedly associated with these drug dealers. How this information was obtained, is unknown at this time. It seems plausible to assume several deals were made by these Chinese individuals as part of the ongoing investigation. That would indicate the criminals continued to use the same Bitcoin addresses over and over again. Given the vast number of blockchain analysis companies, it is not overly difficult to put one and one together. 

Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker explains: 

“The Chinese kingpins that OFAC designated today run an international drug trafficking operation that manufactures and sells lethal narcotics, directly contributing to the crisis of opioid addiction, overdoses, and death in the United States.  Zheng and Yan have shipped hundreds of packages of synthetic opioids to the U.S., targeting customers through online advertising and sales, and using commercial mail carriers to smuggle their drugs into the United States. OFAC and FinCEN’s coordinated action with U.S. law enforcement leverages Treasury’s authorities to confront the deadly synthetic opioid crisis plaguing America.”

Based on this information, one has to wonder if this is a two-man operation. Shipping hundreds of packages is not as labor-intensive as one may think. However, international drug trafficking operations on this scale are often run by a much larger crew. These two Chinese drug dealers may be small fish leading to a bigger whale if the investigation is successful. The Bitcoin transactions themselves may shed more light on how this operation was run exactly.

Article Produced By
JP Buntinx

https://themerkle.com/bitcoin-transactions-lead-to-international-drug-trafficking-rings-arrests/

Chris Corey