VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS24.82%
Net Worth
0.105USD
STEEM
0.001STEEM
SBD
0.145SBD
Effective Power
5.001SP
├── Own SP
0.631SP
└── Incoming DelegationsDeleg
+4.370SP
Detailed Balance
| STEEM | ||
| balance | 0.000STEEM | STEEM |
| market_balance | 0.000STEEM | STEEM |
| savings_balance | 0.000STEEM | STEEM |
| reward_steem_balance | 0.001STEEM | STEEM |
| STEEM POWER | ||
| Own SP | 0.631SP | SP |
| Delegated Out | 0.000SP | SP |
| Delegation In | 4.370SP | SP |
| Effective Power | 5.001SP | SP |
| Reward SP (pending) | 0.142SP | SP |
| SBD | ||
| sbd_balance | 0.000SBD | SBD |
| sbd_conversions | 0.000SBD | SBD |
| sbd_market_balance | 0.000SBD | SBD |
| savings_sbd_balance | 0.000SBD | SBD |
| reward_sbd_balance | 0.145SBD | SBD |
{
"balance": "0.000 STEEM",
"savings_balance": "0.000 STEEM",
"reward_steem_balance": "0.001 STEEM",
"vesting_shares": "1027.002098 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "7116.657708 VESTS",
"sbd_balance": "0.000 SBD",
"savings_sbd_balance": "0.000 SBD",
"reward_sbd_balance": "0.145 SBD",
"conversions": []
}Account Info
| name | infinium |
| id | 449344 |
| rank | 1,359,064 |
| reputation | -15654882179 |
| created | 2017-11-15T09:14:06 |
| recovery_account | steem |
| proxy | None |
| post_count | 122 |
| comment_count | 0 |
| lifetime_vote_count | 0 |
| witnesses_voted_for | 0 |
| last_post | 2018-08-01T05:12:27 |
| last_root_post | 2018-08-01T05:12:27 |
| last_vote_time | 2018-04-30T02:56:33 |
| proxied_vsf_votes | 0, 0, 0, 0 |
| can_vote | 1 |
| voting_power | 0 |
| delayed_votes | 0 |
| balance | 0.000 STEEM |
| savings_balance | 0.000 STEEM |
| sbd_balance | 0.000 SBD |
| savings_sbd_balance | 0.000 SBD |
| vesting_shares | 1027.002098 VESTS |
| delegated_vesting_shares | 0.000000 VESTS |
| received_vesting_shares | 7116.657708 VESTS |
| reward_vesting_balance | 289.622023 VESTS |
| vesting_balance | 0.000 STEEM |
| vesting_withdraw_rate | 0.000000 VESTS |
| next_vesting_withdrawal | 1969-12-31T23:59:59 |
| withdrawn | 0 |
| to_withdraw | 0 |
| withdraw_routes | 0 |
| savings_withdraw_requests | 0 |
| last_account_recovery | 1970-01-01T00:00:00 |
| reset_account | null |
| last_owner_update | 1970-01-01T00:00:00 |
| last_account_update | 1970-01-01T00:00:00 |
| mined | No |
| sbd_seconds | 0 |
| sbd_last_interest_payment | 1970-01-01T00:00:00 |
| savings_sbd_last_interest_payment | 1970-01-01T00:00:00 |
{
"active": {
"account_auths": [],
"key_auths": [
[
"STM8Lc7ATEjyJksWHTvzUXL6SpLfUUPZT7jn3DEQmKnAp7qJgQzRC",
1
]
],
"weight_threshold": 1
},
"balance": "0.000 STEEM",
"can_vote": true,
"comment_count": 0,
"created": "2017-11-15T09:14:06",
"curation_rewards": 0,
"delegated_vesting_shares": "0.000000 VESTS",
"downvote_manabar": {
"current_mana": 2035914951,
"last_update_time": 1779067623
},
"guest_bloggers": [],
"id": 449344,
"json_metadata": "",
"last_account_recovery": "1970-01-01T00:00:00",
"last_account_update": "1970-01-01T00:00:00",
"last_owner_update": "1970-01-01T00:00:00",
"last_post": "2018-08-01T05:12:27",
"last_root_post": "2018-08-01T05:12:27",
"last_vote_time": "2018-04-30T02:56:33",
"lifetime_vote_count": 0,
"market_history": [],
"memo_key": "STM81LS2c7gpJvpzuEsGziippW2sdz2SJY6g9h1sMgLu7MkZ5YACZ",
"mined": false,
"name": "infinium",
"next_vesting_withdrawal": "1969-12-31T23:59:59",
"other_history": [],
"owner": {
"account_auths": [],
"key_auths": [
[
"STM8cmCp57PAdWUXRJYtCZ7ypvkuqjyVZJzuWKct4X793DVdBePZP",
1
]
],
"weight_threshold": 1
},
"pending_claimed_accounts": 0,
"post_bandwidth": 0,
"post_count": 122,
"post_history": [],
"posting": {
"account_auths": [],
"key_auths": [
[
"STM74U6RBKb5gNmE7Kfw2pWUTvgbsLhvufBqVaiPfTXSHiwyQuExk",
1
]
],
"weight_threshold": 1
},
"posting_json_metadata": "",
"posting_rewards": 186,
"proxied_vsf_votes": [
0,
0,
0,
0
],
"proxy": "",
"received_vesting_shares": "7116.657708 VESTS",
"recovery_account": "steem",
"reputation": -15654882179,
"reset_account": "null",
"reward_sbd_balance": "0.145 SBD",
"reward_steem_balance": "0.001 STEEM",
"reward_vesting_balance": "289.622023 VESTS",
"reward_vesting_steem": "0.142 STEEM",
"savings_balance": "0.000 STEEM",
"savings_sbd_balance": "0.000 SBD",
"savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
"savings_sbd_seconds": "0",
"savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
"savings_withdraw_requests": 0,
"sbd_balance": "0.000 SBD",
"sbd_last_interest_payment": "1970-01-01T00:00:00",
"sbd_seconds": "0",
"sbd_seconds_last_update": "1970-01-01T00:00:00",
"tags_usage": [],
"to_withdraw": 0,
"transfer_history": [],
"vesting_balance": "0.000 STEEM",
"vesting_shares": "1027.002098 VESTS",
"vesting_withdraw_rate": "0.000000 VESTS",
"vote_history": [],
"voting_manabar": {
"current_mana": "8143659806",
"last_update_time": 1779067623
},
"voting_power": 0,
"withdraw_routes": 0,
"withdrawn": 0,
"witness_votes": [],
"witnesses_voted_for": 0,
"rank": 1359064
}Withdraw Routes
| Incoming | Outgoing |
|---|---|
Empty | Empty |
{
"incoming": [],
"outgoing": []
}From Date
To Date
2026/05/18 01:27:03
2026/05/18 01:27:03
| delegatee | infinium |
| delegator | steem |
| vesting shares | 7116.657708 VESTS |
| Transaction Info | Block #106144877/Trx 16f6cdb1ae4bd8cbd5fa1f79762501f5e6358f5c |
View Raw JSON Data
{
"block": 106144877,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "7116.657708 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-05-18T01:27:03",
"trx_id": "16f6cdb1ae4bd8cbd5fa1f79762501f5e6358f5c",
"trx_in_block": 2,
"virtual_op": 0
}2026/05/12 08:41:51
2026/05/12 08:41:51
| delegatee | infinium |
| delegator | steem |
| vesting shares | 4404.447303 VESTS |
| Transaction Info | Block #105981527/Trx b888cfa4739824e37d7e2d2b01aea4c073acf651 |
View Raw JSON Data
{
"block": 105981527,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "4404.447303 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-05-12T08:41:51",
"trx_id": "b888cfa4739824e37d7e2d2b01aea4c073acf651",
"trx_in_block": 0,
"virtual_op": 0
}2026/04/26 00:46:00
2026/04/26 00:46:00
| delegatee | infinium |
| delegator | steem |
| vesting shares | 7129.173464 VESTS |
| Transaction Info | Block #105512496/Trx 5590af9752c0c5eac77559802bb7612eb0b595c6 |
View Raw JSON Data
{
"block": 105512496,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "7129.173464 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-04-26T00:46:00",
"trx_id": "5590af9752c0c5eac77559802bb7612eb0b595c6",
"trx_in_block": 0,
"virtual_op": 0
}2026/01/23 11:01:39
2026/01/23 11:01:39
| delegatee | infinium |
| delegator | steem |
| vesting shares | 4445.994122 VESTS |
| Transaction Info | Block #102855678/Trx c832e224511b04de98e9876497b035c29b3c12eb |
View Raw JSON Data
{
"block": 102855678,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "4445.994122 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-01-23T11:01:39",
"trx_id": "c832e224511b04de98e9876497b035c29b3c12eb",
"trx_in_block": 0,
"virtual_op": 0
}2024/12/17 06:18:42
2024/12/17 06:18:42
| delegatee | infinium |
| delegator | steem |
| vesting shares | 4610.213319 VESTS |
| Transaction Info | Block #91302034/Trx 101aec206816800b959778fe071c989706378ab4 |
View Raw JSON Data
{
"block": 91302034,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "4610.213319 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2024-12-17T06:18:42",
"trx_id": "101aec206816800b959778fe071c989706378ab4",
"trx_in_block": 5,
"virtual_op": 0
}2023/11/13 22:00:48
2023/11/13 22:00:48
| delegatee | infinium |
| delegator | steem |
| vesting shares | 4779.346851 VESTS |
| Transaction Info | Block #79856221/Trx 3abe405e640811e61ec7c9e8d784078292a0baf0 |
View Raw JSON Data
{
"block": 79856221,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "4779.346851 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2023-11-13T22:00:48",
"trx_id": "3abe405e640811e61ec7c9e8d784078292a0baf0",
"trx_in_block": 2,
"virtual_op": 0
}2023/09/21 23:14:48
2023/09/21 23:14:48
| delegatee | infinium |
| delegator | steem |
| vesting shares | 7716.625637 VESTS |
| Transaction Info | Block #78349525/Trx c1bb708a3bb8c5fb01cce13644e6390147a9fab2 |
View Raw JSON Data
{
"block": 78349525,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "7716.625637 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2023-09-21T23:14:48",
"trx_id": "c1bb708a3bb8c5fb01cce13644e6390147a9fab2",
"trx_in_block": 4,
"virtual_op": 0
}2022/11/03 12:51:12
2022/11/03 12:51:12
| delegatee | infinium |
| delegator | steem |
| vesting shares | 7938.307075 VESTS |
| Transaction Info | Block #69114634/Trx 792f696c6a30e60da9d23c3b2d06bc66001d9f25 |
View Raw JSON Data
{
"block": 69114634,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "7938.307075 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2022-11-03T12:51:12",
"trx_id": "792f696c6a30e60da9d23c3b2d06bc66001d9f25",
"trx_in_block": 0,
"virtual_op": 0
}2022/01/17 12:01:18
2022/01/17 12:01:18
| delegatee | infinium |
| delegator | steem |
| vesting shares | 8158.840306 VESTS |
| Transaction Info | Block #60810687/Trx 6d015d028c38b26d9e4f41207c0d96900cbd50d6 |
View Raw JSON Data
{
"block": 60810687,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "8158.840306 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2022-01-17T12:01:18",
"trx_id": "6d015d028c38b26d9e4f41207c0d96900cbd50d6",
"trx_in_block": 25,
"virtual_op": 0
}2021/06/14 01:53:42
2021/06/14 01:53:42
| delegatee | infinium |
| delegator | steem |
| vesting shares | 8342.608964 VESTS |
| Transaction Info | Block #54609012/Trx aa36798a685f2c9b15fd8b170a9242348e2673e1 |
View Raw JSON Data
{
"block": 54609012,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "8342.608964 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2021-06-14T01:53:42",
"trx_id": "aa36798a685f2c9b15fd8b170a9242348e2673e1",
"trx_in_block": 0,
"virtual_op": 0
}2020/12/11 12:10:54
2020/12/11 12:10:54
| delegatee | infinium |
| delegator | steem |
| vesting shares | 8530.030938 VESTS |
| Transaction Info | Block #49356423/Trx 27ab522336644eb45b14cba592c02a8250dd15e7 |
View Raw JSON Data
{
"block": 49356423,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "8530.030938 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-12-11T12:10:54",
"trx_id": "27ab522336644eb45b14cba592c02a8250dd15e7",
"trx_in_block": 3,
"virtual_op": 0
}2020/12/06 05:47:51
2020/12/06 05:47:51
| delegatee | infinium |
| delegator | steem |
| vesting shares | 1912.543513 VESTS |
| Transaction Info | Block #49207983/Trx e2b3b8ee0c43a4a13d068034d32471b644063941 |
View Raw JSON Data
{
"block": 49207983,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "1912.543513 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-12-06T05:47:51",
"trx_id": "e2b3b8ee0c43a4a13d068034d32471b644063941",
"trx_in_block": 7,
"virtual_op": 0
}2020/12/05 15:48:45
2020/12/05 15:48:45
| delegatee | infinium |
| delegator | steem |
| vesting shares | 8536.238792 VESTS |
| Transaction Info | Block #49191517/Trx 6df821cf1737bbc17ff699c0ffd902232ed15c85 |
View Raw JSON Data
{
"block": 49191517,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "8536.238792 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-12-05T15:48:45",
"trx_id": "6df821cf1737bbc17ff699c0ffd902232ed15c85",
"trx_in_block": 1,
"virtual_op": 0
}2020/11/02 17:51:06
2020/11/02 17:51:06
| delegatee | infinium |
| delegator | steem |
| vesting shares | 1920.017158 VESTS |
| Transaction Info | Block #48260407/Trx 1b9cdc104776a2b024dbf07f7dcd1d3255346f7c |
View Raw JSON Data
{
"block": 48260407,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "1920.017158 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-11-02T17:51:06",
"trx_id": "1b9cdc104776a2b024dbf07f7dcd1d3255346f7c",
"trx_in_block": 0,
"virtual_op": 0
}2020/05/09 06:46:15
2020/05/09 06:46:15
| delegatee | infinium |
| delegator | steem |
| vesting shares | 8739.044151 VESTS |
| Transaction Info | Block #43218246/Trx 8f3ce33e45ef670c945209fa7734090fb1a8beca |
View Raw JSON Data
{
"block": 43218246,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "8739.044151 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-05-09T06:46:15",
"trx_id": "8f3ce33e45ef670c945209fa7734090fb1a8beca",
"trx_in_block": 3,
"virtual_op": 0
}2020/05/08 10:31:51
2020/05/08 10:31:51
| delegatee | infinium |
| delegator | steem |
| vesting shares | 1953.311140 VESTS |
| Transaction Info | Block #43194526/Trx 391677f9a4ca3d86c833b3ce21999177aebc9b12 |
View Raw JSON Data
{
"block": 43194526,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "1953.311140 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-05-08T10:31:51",
"trx_id": "391677f9a4ca3d86c833b3ce21999177aebc9b12",
"trx_in_block": 17,
"virtual_op": 0
}2019/11/15 10:41:33
2019/11/15 10:41:33
| author | steemitboard |
| body | Congratulations @infinium! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@infinium/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@infinium) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=infinium)_</sub> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes! |
| json metadata | {"image":["https://steemitboard.com/img/notify.png"]} |
| parent author | infinium |
| parent permlink | pwc-among-digital-assets-only-digital-currencies-can-really-be-used-at-present |
| permlink | steemitboard-notify-infinium-20191115t104132000z |
| title | |
| Transaction Info | Block #38194017/Trx 7f1e2de022449a8c2389cd9f2c6941ab30cff185 |
View Raw JSON Data
{
"block": 38194017,
"op": [
"comment",
{
"author": "steemitboard",
"body": "Congratulations @infinium! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@infinium/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@infinium) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=infinium)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
"json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}",
"parent_author": "infinium",
"parent_permlink": "pwc-among-digital-assets-only-digital-currencies-can-really-be-used-at-present",
"permlink": "steemitboard-notify-infinium-20191115t104132000z",
"title": ""
}
],
"op_in_trx": 0,
"timestamp": "2019-11-15T10:41:33",
"trx_id": "7f1e2de022449a8c2389cd9f2c6941ab30cff185",
"trx_in_block": 11,
"virtual_op": 0
}2019/11/01 07:59:51
2019/11/01 07:59:51
| delegatee | infinium |
| delegator | steem |
| vesting shares | 8845.443234 VESTS |
| Transaction Info | Block #37788379/Trx f8ad9a759007eee153f367c663059976cbc424ef |
View Raw JSON Data
{
"block": 37788379,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "8845.443234 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2019-11-01T07:59:51",
"trx_id": "f8ad9a759007eee153f367c663059976cbc424ef",
"trx_in_block": 11,
"virtual_op": 0
}2018/11/26 17:52:27
2018/11/26 17:52:27
| delegatee | infinium |
| delegator | steem |
| vesting shares | 9042.918611 VESTS |
| Transaction Info | Block #28044390/Trx 5fb9a0355bdf18b481780cc602bb540eead7da4c |
View Raw JSON Data
{
"block": 28044390,
"op": [
"delegate_vesting_shares",
{
"delegatee": "infinium",
"delegator": "steem",
"vesting_shares": "9042.918611 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2018-11-26T17:52:27",
"trx_id": "5fb9a0355bdf18b481780cc602bb540eead7da4c",
"trx_in_block": 3,
"virtual_op": 0
}2018/11/15 10:08:12
2018/11/15 10:08:12
| author | steemitboard |
| body | Congratulations @infinium! You have received a personal award! [](http://steemitboard.com/@infinium) 1 Year on Steemit <sub>_Click on the badge to view your Board of Honor._</sub> **Do not miss the last post from @steemitboard:** <table><tr><td><a href="https://steemit.com/steemfest/@steemitboard/the-meet-the-steemians-contest-is-over-results-are-coming-soon"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmeLukvNFRsa7RURqsFpiLGEZZD49MiU52JtWmjS5S2wtW/image.png"></a></td><td><a href="https://steemit.com/steemfest/@steemitboard/the-meet-the-steemians-contest-is-over-results-are-coming-soon">The Meet the Steemians Contest is over - Results are coming soon ...</a></td></tr></table> > Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**! |
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"body": "Congratulations @infinium! You have received a personal award!\n\n[](http://steemitboard.com/@infinium) 1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steemfest/@steemitboard/the-meet-the-steemians-contest-is-over-results-are-coming-soon\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmeLukvNFRsa7RURqsFpiLGEZZD49MiU52JtWmjS5S2wtW/image.png\"></a></td><td><a href=\"https://steemit.com/steemfest/@steemitboard/the-meet-the-steemians-contest-is-over-results-are-coming-soon\">The Meet the Steemians Contest is over - Results are coming soon ...</a></td></tr></table>\n\n> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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2018/08/01 05:12:57
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/08/01 05:12:36
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}infiniumpublished a new post: pwc-among-digital-assets-only-digital-currencies-can-really-be-used-at-present2018/08/01 05:12:27
infiniumpublished a new post: pwc-among-digital-assets-only-digital-currencies-can-really-be-used-at-present
2018/08/01 05:12:27
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9hYzJmODdjODExNzEyNTRlYjY0OWMwYmMxMTdiZmI4Zi5qcGc=.jpg A PwC Switzerland executive said that among the various types of digital asset, only digital currencies are can reasonably be used at present, according to a post on the PwC website July 31. In the post, Roland Stadler, Senior Manager and Data & Analytics Specialist at PwC Switzerland, claims that while digital assets “seem similar at first glance,” on closer inspection they differ. Stadler makes a distinction between “digital assets” and “currencies,” because “only a few” can be considered currencies in the “literal sense of the word.” He then divides digital assets into three types; currencies like Bitcoin (BTC), utility tokens, and security tokens. According to Stadler, currencies like BTC are both a payment instrument and a payment network in equal measure, which can be used without the involvement of a central institution. Utility tokens are “fuel” for using software or a service. Stadler cites Ethereum-based smart contracts to illustrate the difference between BTC and ETH, saying that while they are both used for speculation, “they could not be any more different.” The third class of digital assets, security tokens, take the form of digital securities such as shares in companies or rights to future profits from a project. Stadler says that security tokens can be “tricky” from a regulatory perspective as they can fall under the same regulatory requirements as a company’s IPO. Having defined the various types of digital assets, Stadler concludes that currency-like digital assets are currently the only useful ones, despite speculation on them in digital currency markets. According to Stadler, BTC is considered a long-term investment, with growing acceptance as a means of payment: “Technical stability plays a particularly important role. Priority is given to security and resistance to external influence through conservative technological development … With fees amounting to just a few pennies, Bitcoin can bring significant benefits in terms of costs in the field of international trade, where traditional payment transactions can incur very high transaction fees.” Stadler points out the high risk of failure for utility and security tokens, “even for above-the-board projects,” adding that, “[g]iven the current hype surrounding blockchain technology, the proportion of confidence tricksters is likely to be significant.” On a final note, Stadler emphasizes the importance of BTC from a technological, sociological and economic perspective, also mentioning possible opportunities for innovative business models. Smart contracts and tokenization of real-world assets, as per Stadler, are in their infancy and will have some impact on business world in the future. As for ICOs, Stadler advises to “stay away” from them as they’re “mostly scams and even honest projects are so small that the market is easily manipulated.” |
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}bigross123upvoted (100.00%) @infinium / hey-micro-business-blockchain-is-for-you-too2018/07/30 04:41:33
bigross123upvoted (100.00%) @infinium / hey-micro-business-blockchain-is-for-you-too
2018/07/30 04:41:33
| author | infinium |
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2018/07/30 04:21:06
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}cheetahflagged (-0.08%) @infinium / hey-micro-business-blockchain-is-for-you-too2018/07/30 04:21:00
cheetahflagged (-0.08%) @infinium / hey-micro-business-blockchain-is-for-you-too
2018/07/30 04:21:00
| author | infinium |
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}infiniumpublished a new post: hey-micro-business-blockchain-is-for-you-too2018/07/30 04:20:54
infiniumpublished a new post: hey-micro-business-blockchain-is-for-you-too
2018/07/30 04:20:54
| author | infinium |
| body | https://cimg.co/w/articles-attachments/0/5b5/adcb822d6c.jpg Everyone's familiar with the blockchain hype when it comes to large banks, multinationals and institutions, but what's less familiar is that distributed ledger tech could be no less revolutionary for small and micro businesses. To an extent, this will come as the result of trickle-down effects from big adopters: blockchain tech will reportedly reduce the transaction and infrastructure costs of banks by up to USD 20 billion a year by 2022, for example, which in turn will see their small-business clients benefit from such savings in the form of cheaper transactions and financial services. However, many of the blockchain benefits accruing to small and micro businesses will be direct, since by using distributed ledger tech these businesses will not only reduce their own costs and sidestep numerous middlemen, but they'll also be able to maximise their own dynamism and adaptability, which is often greater than that of big businesses mulishly attached to legacy systems. Financing and payments According to Paul Mitchell, the blockchain and fintech lead at PricewaterhouseCoopers SA, small businesses will take most of their benefits from distributed ledgers in the form of reduced costs. "Blockchain is going to dramatically change transaction costs in all sorts of ways, through tokenization and through the removal of middlemen," he tells Cryptonews.com. "This will create new shapes for some industries, and small businesses are well placed to take advantage of that." At the moment, concrete examples of a small or micro-business using a blockchain to cut down on overheads are very scarce, yet such businesses are becoming increasingly aware of and receptive to the crypto technology. “We, at Just Posh Masks, have considered accepting bitcoins as a payment method on our website,” confirms Tracy Porter, the director of the UK-based micro-business Just Posh Masks. “Our website is a Magento-based ecommerce website and Magento have recently launched an add-on called BitPay which would enable all companies who use Magento […] to accept bitcoins as a method of payment.” Also, the blockchain’s potential is there in the form of the growing number of platforms offering their advantages to such businesses. For instance, there are already several platforms that use blockchains in order to offer lending or funding to small/micro businesses at more affordable rates, including Wish Finance, Debitum, Bitbond, and Acorn Collective (and forgetting all the initial coin offerings (ICOs) that provide startups with a non-conventional source of funds). There are also blockchain platforms that provide lower cost payment solutions for small businesses, such as Veem, CoinPip, Liquidity.Network, and Bitwage. Smart contracts In fact, the benefits don't stop only with more accessible credit and cheaper payments solutions, since blockchain expert Torben Craner explains to Cryptonews.com that the blockchain-enabled use of smart contracts will be of particular interest to small and micro businesses. He says, "any startup or small business can meet regulatory requirements using blockchain and smart contracts. A smart contract can secure that VAT and tax is paid directly to the government." The advantage of smart contracts – which are offered by an increasing number of blockchain platforms – is that they can automate the execution of certain necessary actions, thereby making it cheaper for companies to stay on top of various obligations. "Blockchain will most likely be a solution to many enterprises and their wish to optimize operations and gain better control of regulatory requirements,” Craner adds. "The number one killer for small businesses is tight up revenues in claims and unpaid bills for giving services. Blockchain with smart contracts can help quick settlements and trusted releases (we deliver on time in full, you pay instantly)." In sum, blockchain tech will enable smaller companies to be more efficient, which by extension will enable them to do and offer many of the things that were formally the preserve of large corporations. For example, the boutique airline Surf Air recently began using a blockchain-based loyalty programme designed for small businesses, something that would have been too expensive and complicated in the past for many small businesses. Adoption and agility Of course, all of these positive predictions are jumping the gun somewhat, since unlike huge multinational behemoths such as Microsoft, Apple or Amazon, small and micro-businesses tend to follow the times rather than lead them. In other words, as Paul Mitchell confirms, they will have to wait for adoption to spread more generally before they can adopt themselves. "The adoption will depend to a large extent on other people adopting it," he says, "and small businesses will need the blockchain ecosystem to be more developed as it will be uneconomical for them to do everything themselves. Torber Craner agrees. "Well, first of all we need to expand the knowledge of blockchain to the common user," he explains. "Many new start-ups are offering solutions that will help small businesses with very low cost but they need to know that it is there for them […] But then we need to educate people in how to use and adapt the solutions. And that is a huge potential area for consultancies around the world." This creates the sense that we still have a long way to go before the smallest businesses will adopt blockchain en masse. However, Craner believes it isn't that far away. "The vast adoption will come when people realise the alternatives to centralised systems. I think that the EU GDPR has ignited the awareness, and maybe within 2-4 years we will see the vast majority move towards blockchain supported platforms and systems." Two to four years isn't all that long in the grander scheme of things, and what's exciting is that small and micro businesses are often better placed to adopt new technologies than big, lumbering organisations, which are sometimes too heavily invested in past systems. "Small businesses have the advantage of being agile and quick to change direction compared to big businesses," Craner says, while Mitchell echoes his sentiments: "The potential is that they are more agile so can shift business models more easily." |
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| permlink | hey-micro-business-blockchain-is-for-you-too |
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"body": "https://cimg.co/w/articles-attachments/0/5b5/adcb822d6c.jpg\nEveryone's familiar with the blockchain hype when it comes to large banks, multinationals and institutions, but what's less familiar is that distributed ledger tech could be no less revolutionary for small and micro businesses.\n\nTo an extent, this will come as the result of trickle-down effects from big adopters: blockchain tech will reportedly reduce the transaction and infrastructure costs of banks by up to USD 20 billion a year by 2022, for example, which in turn will see their small-business clients benefit from such savings in the form of cheaper transactions and financial services.\n\nHowever, many of the blockchain benefits accruing to small and micro businesses will be direct, since by using distributed ledger tech these businesses will not only reduce their own costs and sidestep numerous middlemen, but they'll also be able to maximise their own dynamism and adaptability, which is often greater than that of big businesses mulishly attached to legacy systems.\n\nFinancing and payments\n\nAccording to Paul Mitchell, the blockchain and fintech lead at PricewaterhouseCoopers SA, small businesses will take most of their benefits from distributed ledgers in the form of reduced costs.\n\n\"Blockchain is going to dramatically change transaction costs in all sorts of ways, through tokenization and through the removal of middlemen,\" he tells Cryptonews.com. \"This will create new shapes for some industries, and small businesses are well placed to take advantage of that.\"\n\nAt the moment, concrete examples of a small or micro-business using a blockchain to cut down on overheads are very scarce, yet such businesses are becoming increasingly aware of and receptive to the crypto technology.\n\n“We, at Just Posh Masks, have considered accepting bitcoins as a payment method on our website,” confirms Tracy Porter, the director of the UK-based micro-business Just Posh Masks. “Our website is a Magento-based ecommerce website and Magento have recently launched an add-on called BitPay which would enable all companies who use Magento […] to accept bitcoins as a method of payment.”\n\nAlso, the blockchain’s potential is there in the form of the growing number of platforms offering their advantages to such businesses.\n\nFor instance, there are already several platforms that use blockchains in order to offer lending or funding to small/micro businesses at more affordable rates, including Wish Finance, Debitum, Bitbond, and Acorn Collective (and forgetting all the initial coin offerings (ICOs) that provide startups with a non-conventional source of funds). There are also blockchain platforms that provide lower cost payment solutions for small businesses, such as Veem, CoinPip, Liquidity.Network, and Bitwage.\n\nSmart contracts\n\nIn fact, the benefits don't stop only with more accessible credit and cheaper payments solutions, since blockchain expert Torben Craner explains to Cryptonews.com that the blockchain-enabled use of smart contracts will be of particular interest to small and micro businesses. He says, \"any startup or small business can meet regulatory requirements using blockchain and smart contracts. A smart contract can secure that VAT and tax is paid directly to the government.\"\n\nThe advantage of smart contracts – which are offered by an increasing number of blockchain platforms – is that they can automate the execution of certain necessary actions, thereby making it cheaper for companies to stay on top of various obligations.\n\n\"Blockchain will most likely be a solution to many enterprises and their wish to optimize operations and gain better control of regulatory requirements,” Craner adds. \"The number one killer for small businesses is tight up revenues in claims and unpaid bills for giving services. Blockchain with smart contracts can help quick settlements and trusted releases (we deliver on time in full, you pay instantly).\"\n\nIn sum, blockchain tech will enable smaller companies to be more efficient, which by extension will enable them to do and offer many of the things that were formally the preserve of large corporations. For example, the boutique airline Surf Air recently began using a blockchain-based loyalty programme designed for small businesses, something that would have been too expensive and complicated in the past for many small businesses.\n\nAdoption and agility\n\nOf course, all of these positive predictions are jumping the gun somewhat, since unlike huge multinational behemoths such as Microsoft, Apple or Amazon, small and micro-businesses tend to follow the times rather than lead them.\n\nIn other words, as Paul Mitchell confirms, they will have to wait for adoption to spread more generally before they can adopt themselves. \"The adoption will depend to a large extent on other people adopting it,\" he says, \"and small businesses will need the blockchain ecosystem to be more developed as it will be uneconomical for them to do everything themselves.\n\nTorber Craner agrees. \"Well, first of all we need to expand the knowledge of blockchain to the common user,\" he explains.\n\n\"Many new start-ups are offering solutions that will help small businesses with very low cost but they need to know that it is there for them […] But then we need to educate people in how to use and adapt the solutions. And that is a huge potential area for consultancies around the world.\"\n\nThis creates the sense that we still have a long way to go before the smallest businesses will adopt blockchain en masse. However, Craner believes it isn't that far away. \"The vast adoption will come when people realise the alternatives to centralised systems. I think that the EU GDPR has ignited the awareness, and maybe within 2-4 years we will see the vast majority move towards blockchain supported platforms and systems.\"\n\nTwo to four years isn't all that long in the grander scheme of things, and what's exciting is that small and micro businesses are often better placed to adopt new technologies than big, lumbering organisations, which are sometimes too heavily invested in past systems. \"Small businesses have the advantage of being agile and quick to change direction compared to big businesses,\" Craner says, while Mitchell echoes his sentiments: \"The potential is that they are more agile so can shift business models more easily.\"",
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2018/07/27 03:29:06
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| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/27 03:29:03
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2018/07/27 03:29:00
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy83MWU5NmU1ZmZhNDczZDI4YjNmNzdlOWRjODE4NWUyOS5qcGc=.jpg The Securities Division of the Office of the Attorney General of South Carolina has removed cease-and-desist orders against two blockchain startups, according to public documents published July 26. Today’s order removed a cease-and-desist order filed by the South Carolina Attorney General's office against shipping platform ShipChain for violating the state’s securities statutes on May 21. Regulators initially accused the firm of running afoul of securities laws during their private SHIP token sale. The second firm, cloud mining platform Genesis Mining, which was previously halted by the South Carolina Attorney General's Office Securities Division due to selling “unlicensed securities,” is now ordered to be dismissed as a respondent from the administrative order. Following the cease-and-desist order in May, ShipChain refuted the accusation by state regulators, claiming that their token sale was conducted in compliance with securities laws. Moreover, the firm specified that ShipChain was “not aware” that SHIP tokens were even offered to South Carolina residents, since the token sale was held prior to the company’s placement in the state of South Carolina. According to Influencive, ShipChain raised $30 million in a private token sale in January. Launched in 2017 in California, the blockchain startup aims to solve major problems associated with the logistics and shipping sectors. According to the National Cargo Security Council, the industry loses more than $50 billion annually from lost or stolen cargo. Iceland-based Genesis Mining is one of the largest companies providing cloud mining services, primarily focused on Bitcoin. Founded in late 2013, the company’s mining farms are reportedly the largest consumer of electricity in Iceland. Earlier today, Cointelegraph reported that the Swiss Financial Market Supervisory Authority (FINMA) launched enforcement measures against crypto mining firm Envion AG over its potentially unauthorized token sale in mid-January 2018. |
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}restbotupvoted (10.00%) @infinium / this-african-island-to-move-its-operations-on-blockchain2018/07/26 05:49:42
restbotupvoted (10.00%) @infinium / this-african-island-to-move-its-operations-on-blockchain
2018/07/26 05:49:42
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}kylightningupvoted (100.00%) @infinium / this-african-island-to-move-its-operations-on-blockchain2018/07/26 05:20:57
kylightningupvoted (100.00%) @infinium / this-african-island-to-move-its-operations-on-blockchain
2018/07/26 05:20:57
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2018/07/26 04:50:39
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}cheetahflagged (-0.08%) @infinium / this-african-island-to-move-its-operations-on-blockchain2018/07/26 04:50:27
cheetahflagged (-0.08%) @infinium / this-african-island-to-move-its-operations-on-blockchain
2018/07/26 04:50:27
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}infiniumpublished a new post: this-african-island-to-move-its-operations-on-blockchain2018/07/26 04:50:24
infiniumpublished a new post: this-african-island-to-move-its-operations-on-blockchain
2018/07/26 04:50:24
| author | infinium |
| body | https://cimg.co/w/articles-attachments/0/5b5/951648c65e.jpg A South Korean blockchain company has struck a deal that will see it provide fintech solutions to the government of Mauritius. The East African island nation is looking to modernize its operations, and has charged a state-owned company, State Informatics Limited (SIL) with digitizing its government and financial services operations, as well as the country’s educational institutions, port operations, utilities and transport network. Per South Korean media outlet Digital Daily, SIL is now keen on applying blockchain technology, and has sought assistance from Locus Chain Foundation, a South Korean-owned company established by a former gaming professional. The company – like dozens of other South Korean cryptocurrency and blockchain ventures – is based in Singapore. The South East Asian city state, unlike South Korea, permits initial coin offerings (ICOs), and has drawn in dozens of South Korean “ICO refugees.” SIL may well look to extend the reach of its blockchain platform – the company has already implemented digitized solutions for government bodies in Senegal, Zambia, Zimbabwe, Ghana, Kenya and Botswana. Locus Chain has been active in Mauritius since earlier this year. Last month, the company signed a technology cooperation agreement with the Mauritius government, allowing for the application of what Locus Chain terms a “fourth-generation” blockchain platform, capable of conducting end-to-end transactions in less than two seconds, irrespective of broadband speed. The news comes less than a month after Locus Chain announced it had reached an agreement with the Tunisia Economic City (TEC), a joint Saudi Arabian-Tunisian USD 50 billion project that will involve building what developers are claiming will be “the biggest smart city in the Mediterranean region” – covering a total area of 90 square kilometers. Locus Chain says its blockchain platform will be used during the city construction process, and that its products will be “used as a base technology and settlement currency for various industries such as finance, communication, medical, shopping, automatic vehicles and AI ventures.” |
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2018/07/25 07:36:30
| author | surikowstepanuk |
| body | @infinium, you are interested in reading, maybe you read me too |
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2018/07/25 02:32:15
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2018/07/25 02:32:09
| author | sniper555 |
| body | Amazing photo. |
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2018/07/25 02:00:48
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2018/07/25 01:59:45
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| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/25 01:59:42
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infiniumpublished a new post: controversial-blockchain-project-tezos-to-be-audited-by-big-four-pwc
2018/07/25 01:59:39
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy83Njk3NTJhYjFmOTYyNjIyMmQzZDExYzJjZGU3ZjAzNS5qcGc=.jpg The Tezos Foundation has announced that the international professional services giant PricewaterhouseCoopers Switzerland (PwC) will conduct an external audit of its finances and operations. In an official announcement Monday, July 23, the Foundation claimed to be the “first large-scale blockchain organization” to be audited by PwC. PricewaterhouseCoopers, headquartered in London, U.K., is one of the four largest professional services networks in the world, known collectively as the “Big Four.” Self-described as a “self-amending” blockchain, Tezos has managed to raise about $232 million - the largest-ever amount at that time - in an initial coin offering (ICO) in July 2017. Soon after, the project became the target of several lawsuits, experiencing launch delays, and ultimately leading to a beta network launch on June 30, 2018. Now, with the announcement of an external audit by one of the “Big Four” companies, the project claims to be “committed to operating with the highest degree of integrity.” Engaging with PwC allows Tezos community to “trust [their] operations and use of finances,” the Foundation added. In March this year, PwC announced plans to launch a blockchain auditing service for businesses in the crypto industry, claiming that several companies have signed up for it even ahead of the official release. Later in May, PwC acquired a minority stake in Chinese blockchain startup VeChain that specializes in anti-counterfeiting, supply chain management and the Internet of Things (IOT). Another controversial crypto project, Tether (USDT) “dissolved” relationships with its auditor Friedman LLP in January 2018, adding more fuel to the speculations that the company does not have the amount of U.S. dollars required to back its USDT tokens at a 1:1 ratio. |
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2018/07/24 02:50:00
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2018/07/24 02:46:54
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/24 02:46:51
| author | infinium |
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infiniumpublished a new post: google-to-offer-distributed-ledger-solutions-in-cloud-platform-marketplace
2018/07/24 02:46:48
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9mOGEwYWEyZjEwMzg4OTFkOTA4ZmQ4YTlmY2E1MTFjMS5qcGc=.jpg Google is joining the list of tech giants to deploy blockchain technology to offer customers fintech and cloud service solutions, according to an official statement Monday, July 23. Google announced that the company has partnered with two blockchain-focused firms, Digital Asset and BlockApps, to offer new distributed ledger technology (DLT) solutions on Google's Cloud Platform (GCP), which would allow users to "explore ways [customers] might use distributed ledger technology frameworks.” Digital Asset is a supplier of distributed ledger software for the fintech industry, while BlockApps offers a blockchain platform to launch decentralized apps (DApps). In the statement “Building a better cloud with our partners at Next ‘18,” ahead of Google’s Cloud Next '18 conference, the company specified that later on this year, customers will be able to test out open-source integrations for Hyperledger Fabric and Ethereum (ETH) protocols in the GCP Marketplace service. Digital Asset CEO Blythe Masters noted that that the upcoming solution would “reduce the technical barriers to DLT application development,” according to a Computerworld report July 23. With the new partnerships, Google joins other high-profile tech companies with blockchain-as-a-service (BaaS) offerings, such as Microsoft, IBM, and Oracle Amazon Web Services (AWS), which introduced its blockchain platform for DApps in April 2018. In March, Google announced it would start blocking crypto-related ads of all sorts in June 2018, following the move of Facebook social media giant, which recently reversed the ban on cryptocurrency ads. On July 8, Google co-founder Sergey Brin revealed that he is Ethereum miner. Speaking at the Blockchain Summit in Morocco Brin said that mining Ethereum was a “side hustle,” and that cryptocurrencies are “mind-boggling.” |
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2018/07/23 02:32:51
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/23 02:32:42
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2018/07/23 02:32:39
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kZTgzZGIyZTQ5NDk1NWI1M2QzMzJkNWRiZGYxMWU4OS5qcGc=.jpg A study on issues of competition in fintech, commissioned by the European Parliament Committee on Economic and Monetary Affairs (ECON), was published July 20. It found that central bank-issued digital currencies could be a “remedy” for a lack of competition policy in the crypto sector: “The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the cryptocurrency market, broadening the number of competitors.” The study mentions cryptocurrencies like Bitcoin (BTC) as “technological and operational paradigms that are a source of disruption for the entire sector, including monetary policy and financial stability.” Other “disruptive and innovative applications” of new technologies include “AI, cloud computing, biometrics, digital identity, blockchain, cybersecurity, RegTech, internet of things (IoT), augmented reality.” Private digital currencies are defined separately from central bank-issued digital currencies (CBDC), noting that the CBDCs differ by being based on a “conventional bilateral settlement with a trusted central party.” According to the study, since closed cryptocurrency systems require a supervisory authority, central banks could be considering using “permissioned cryptocurrency systems” to “complement or substitute” the currencies already used. The study claims that CBDCs “will reshape the current competition level in the inter-cryptocurrency market” by adding to the pool of competitors: “A potential inadequacy of traditional competition policy to address competition issues in the cryptocurrency markets can be found, suggesting direct public participation through a central-bank digital currency as a remedy.” The competition issues, the ECON study notes, can be divided into “inter-cryptocurrency market” competition between cryptos, and “intra-cryptocurrency” market competition between service providers like wallets and exchanges. In terms of “inter-crypto market” competition, the study reports that the “presence of network effects” and a high number of users of a cryptocurrency could provide a barrier to entry for other cryptos attempting to join the market. The study hypothesizes that this competition “may lead to potential collusive agreements between members of hypothetical cartels.” For “intra-crypto market” competition, wallets, exchanges, and payment providers could create practices that would keep others out of the market, such as receiving inducements from miners that favor one cryptocurrency over another. In mid-July, a new EU directive came into force that set stricter transparency rules for digital currencies to protect against money laundering and terrorist financing. Also in July, virtual currencies were discussed for the first time at ECON’s “Monetary Dialogue” session, with five different briefing reports discussed on topics ranging from crypto and central banks to crypto and the “Eurosystem.” |
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"body": "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9kZTgzZGIyZTQ5NDk1NWI1M2QzMzJkNWRiZGYxMWU4OS5qcGc=.jpg\nA study on issues of competition in fintech, commissioned by the European Parliament Committee on Economic and Monetary Affairs (ECON), was published July 20. It found that central bank-issued digital currencies could be a “remedy” for a lack of competition policy in the crypto sector:\n\n“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the cryptocurrency market, broadening the number of competitors.”\n\nThe study mentions cryptocurrencies like Bitcoin (BTC) as “technological and operational paradigms that are a source of disruption for the entire sector, including monetary policy and financial stability.” Other “disruptive and innovative applications” of new technologies include “AI, cloud computing, biometrics, digital identity, blockchain, cybersecurity, RegTech, internet of things (IoT), augmented reality.”\n\nPrivate digital currencies are defined separately from central bank-issued digital currencies (CBDC), noting that the CBDCs differ by being based on a “conventional bilateral settlement with a trusted central party.”\n\nAccording to the study, since closed cryptocurrency systems require a supervisory authority, central banks could be considering using “permissioned cryptocurrency systems” to “complement or substitute” the currencies already used.\n\nThe study claims that CBDCs “will reshape the current competition level in the inter-cryptocurrency market” by adding to the pool of competitors:\n\n“A potential inadequacy of traditional competition policy to address competition issues in the cryptocurrency markets can be found, suggesting direct public participation through a central-bank digital currency as a remedy.”\n\nThe competition issues, the ECON study notes, can be divided into “inter-cryptocurrency market” competition between cryptos, and “intra-cryptocurrency” market competition between service providers like wallets and exchanges.\n\nIn terms of “inter-crypto market” competition, the study reports that the “presence of network effects” and a high number of users of a cryptocurrency could provide a barrier to entry for other cryptos attempting to join the market. The study hypothesizes that this competition “may lead to potential collusive agreements between members of hypothetical cartels.”\n\nFor “intra-crypto market” competition, wallets, exchanges, and payment providers could create practices that would keep others out of the market, such as receiving inducements from miners that favor one cryptocurrency over another.\n\nIn mid-July, a new EU directive came into force that set stricter transparency rules for digital currencies to protect against money laundering and terrorist financing.\n\nAlso in July, virtual currencies were discussed for the first time at ECON’s “Monetary Dialogue” session, with five different briefing reports discussed on topics ranging from crypto and central banks to crypto and the “Eurosystem.”",
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2018/07/20 03:48:12
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| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/20 03:48:06
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2018/07/20 03:48:03
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zM2U0NTMzZGFmYTE0OGE1NGIxNjRjNjFhZGIyMDBkZC5qcGc=.jpg Global Head of Digital at HSBC, Josh Bottomley, said that the bank is “cautiously looking” at cryptocurrency use cases, Forbes reported July 19. In an interview with Forbes, Bottomley said that HSBC is “cautiously looking into this area [cryptocurrencies],” when asked about the bank’s approach to the crypto. Bottomley further explained that “there’s a use case when you have a token or currency that’s actually useful for a particular purpose, and it serves that need. But that is very different to if it’s pure speculation.” Bottomley added, “Right now we’re not interested in that at all.” Bottomley said that at present, the bank “[doesn’t] believe broadly” that cryptocurrencies are a genuine investment asset, but that may change. He said: “One of the criteria we use is if an asset class is showing incredible volatility up and down. For the vast majority of our customers, that makes it an inappropriate saving or investment vehicle.” An HSBC spokesperson told Forbes that the bank “does not trade cryptocurrencies nor do we process payments denominated in virtual or cryptocurrencies.” While HSBC remains wary of cryptocurrencies, like many other major financial institutions, it has been testing the potential of crypto’s underlying blockchain technology in a variety of applications. Earlier this month, European blockchain trading platform we.trade, of which HSBC is a founding member, completed its first live operations. We.trade, which uses IBM’s Blockchain Platform and is powered by Hyperledger Fabric, is comprised of five major banks and 20 companies. In August 2017, HSBC joined a project called Utility Settlement Coin (USC) that intends to facilitate the issuance of currencies by central banks globally using blockchain technology. The project’s co-founder Hyder Jaffrey said then that the initiative will serve as a stepping stone to a future in which central banks are already using their own virtual currencies. Jaffrey’s comments were supported by HSBC’s Head of Fintech Partnerships and Strategy, Kaushalya Somasundaram, who claimed that the USC could help set a future course for central bank cryptocurrencies. |
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}madnessteatupvoted (100.00%) @infinium / is-india-about-to-reverse-its-crypto-trade-ban2018/07/19 03:12:00
madnessteatupvoted (100.00%) @infinium / is-india-about-to-reverse-its-crypto-trade-ban
2018/07/19 03:12:00
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}sensationupvoted (100.00%) @infinium / is-india-about-to-reverse-its-crypto-trade-ban2018/07/19 02:55:42
sensationupvoted (100.00%) @infinium / is-india-about-to-reverse-its-crypto-trade-ban
2018/07/19 02:55:42
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2018/07/19 02:19:03
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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}cheetahflagged (-0.08%) @infinium / is-india-about-to-reverse-its-crypto-trade-ban2018/07/19 02:18:42
cheetahflagged (-0.08%) @infinium / is-india-about-to-reverse-its-crypto-trade-ban
2018/07/19 02:18:42
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}magic8ballreplied to @infinium / 20180719t021828917z2018/07/19 02:18:27
magic8ballreplied to @infinium / 20180719t021828917z
2018/07/19 02:18:27
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| body | To the question in your title, my Magic 8-Ball says:<blockquote>Outlook not so good</blockquote><hr>*Hi! I'm a bot, and this answer was posted automatically. Check [this post out](https://steemit.com/introduceyourself/@magic8ball/introducing-the-magic-8-ball-bot) for more information.* |
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}infiniumpublished a new post: is-india-about-to-reverse-its-crypto-trade-ban2018/07/19 02:18:21
infiniumpublished a new post: is-india-about-to-reverse-its-crypto-trade-ban
2018/07/19 02:18:21
| author | infinium |
| body | https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9lYTgyN2YwZjQ5Nzk2N2Y4NDZmYWJjMDM1ZWEwMjU0NC5qcGc=.jpg On July 20, the Supreme Court of India will hold a hearing regarding the state of cryptocurrencies in the country. It is a decisive date for the local crypto industry that has been significantly suppressed in the past month by the Reserve Bank of India’s (RBI) ban on all banks' dealings with crypto-related businesses. The hope for an overview of the hardline approach lives on, however, as last week a report citing anonymous sources in the government suggested that cryptocurrencies might be viewed as commodities in the future, and hence become regulated by relevant authorities rather than remain mostly banned. Brief history of cryptocurrencies in India India has not been perfectly cohesive in its stance toward crypto. The relationship between the two dates back to December 2013, when the RBI first issued a general public announcement to potential crypto users, warning them about typical risks involved — volatility, security and ties to illicit activities. Since then, the agency has been putting out similar notes in response to crypto’s gaining popularity, with the last one being issued on December 2017. Those kind of warnings, however, failed to address the legal status of Bitcoin (BTC) and altcoins in the country — as Dr. S.P. Sharma, Chief Economist, opined in an interview with the Economic Times of India in October 2017, “neither has the government formally brought Bitcoin under the definition of currency, nor has it made it illegal.” According to some experts, the state chose the passive role simply due to not having a coherent plan in mind. Thus, Anirudh Rastogi, managing partner at the law firm TRA, told Quartz India: “[Not having a concrete strategy] is the reason why they have been reiterating similar comments and warning the common investors to not go overboard.” Nevertheless, as cryptocurrencies gained even more extreme momentum in December 2017 — when Bitcoin was infamously trading for $20,000 — the government stepped in with straightforward action, as India’s Income Tax Department began its major sweep. According to Business Standard, by December 13, the watchdog had visited nine virtual currency exchanges in Bengaluru, Hyderabad, Mumbai, Delhi and Kochi on the matter of tax evasion. Further, the agency reportedly sent tax notices to as many as 400,000-500,000 investors, based on their transaction history. The situation became even less optimistic for cryptocurrencies after India’s Ministry of Finance compared Bitcoin to a ponzi scheme and local banks — including State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank — began taking strong action against crypto exchanges by either closing their accounts altogether or significantly curtailing operation. In April 2017, the RBI announced that the bank would no longer provide services to any person or business that deals with cryptocurrencies, and that decision essentially became law on July 5, when the deadline expired. That means that Indian citizens are currently not able to buy and sell cryptocurrencies on exchanges. Instead, they need to use peer-to-peer networks, where mainly crypto-to-crypto operations are allowed. If an Indian citizen wants to exchange crypto to fiat, then they will need to turn to marketplace exchanges or the black market, the Times of India explains. Additionally, crypto exchanges and companies cannot receive loans from banks in India, according to the legislative. New reality: outlawed crypto It would be fair to argue that the Indian government’s hardline regulatory action thus far has only prompted the crypto industry to go underground, and has therefore become even less regulated. At this point, a significant number of local exchanges have either closed shop or partly ceased their operation: The first victims were BTCXIndia and ETHEXIndia, who chose to shut down back in March, when the RBI ban hadn’t been announced yet. BTCXIndia cited the Indian government’s “discouraging cryptocurrency trading” as the primary reason for closure at the time. Both of them are inactive to this day. The largest remaining players, namely Zebpay and Unocoin — Coinsecure is still offline due to the recent cyberattack — now warn their clients that rupee withdrawal processes can be compromised at any time due to the RBI ban deadline. In its announcement regarding the matter, Unocoin mentions that they are “in the process of deploying new mechanisms for INR deposits and withdrawals,” and has introduced Unodax — a peer-to-peer solution bypassing the RBI ban. Similar services have been rolled out by other Indian exchanges, such as WazirX and Koinex. Meanwhile, as the Times of India reports, a number of opportunists used the RBI ban for their advantage by cashing in on the panic sales in India via "arbitrage" — a strategy that implied buying BTC within the Indian market on the cheap, transferring it to a middleman in another country, who would then sell it there for a better rate and share the profit among the both parties involved. Even more confusion was caused by a Bloomberg article quoting anonymous parties with “direct knowledge” of the government plans to impose an 18 percent goods and services tax (GST) on crypto, as it could hardly coincide with the RBI ban — how can cryptocurrencies be taxed, when one can’t even trade them? Nevertheless, such news indicate that more positive regulation might be on the way, or merely that different government agencies take varying approaches toward crypto, not coordinating their moves among each other. New hope: the commodity route On July 11, Quartz India published an article dubbed “India may not ban cryptocurrency after all” — the piece cited an anonymous source and claimed that “a finance ministry panel set up to study [virtual currencies] may even suggest that they be treated as commodities.” Thus, a senior government official privy to the matter told the news outlet: “I don’t think anyone is really thinking of banning [cryptocurrencies] altogether. The issue here is about regulating the trade and we need to know where the money is coming from. Allowing it as [a] commodity may let us better regulate trade and so that is being looked at.” Viewing cryptocurrencies as commodities resembles the U.S. Commodity Futures Trading Commission’s (CFTC) approach. The U.S. agency that fully controls commodity derivatives transactions in the country claims that tokens are commodities: Essentially, in their view, Bitcoin is closer to gold than to conventional currencies or securities, as it is not backed by the government and doesn’t have a liability attached to it. Shubham Yadav, co-founder of Coindelta — an Indian cryptocurrency exchange — agrees with that viewpoint: “Though cryptocurrencies belong to a new class of financial assets, we can still welcome them as commodities and not currencies because of their high volatile prices.” The cryptocurrency panel cited was set up in December 2017 with the purpose of understanding the expanding crypto industry, and it includes Subhash Chandra Garg, secretary in the department of economic affairs; BP Kanungo, deputy governor of the RBI; and Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India. It is the second cryptocurrency panel in India, while the first panel — established by the Narendra Modi government in April 2017 — recommended “slowly choking” the industry: It couldn't be stopped in one day, as people would lose a lot of money, they argued, which is why a more timely approach was needed. In June, Subhash Chandra Garg, the head of the newer — and more crypto friendly — panel, told local news outlet ET news that his task force was almost ready to introduce a draft for a crypto regulatory framework and promised to deliver it within the first two weeks of July — no such announcements have been made by press time, however. “We are fairly close to developing a template [for the cryptocurrency industry] that might be in the best interests of our country. We have moved pretty far in this regard, and we have prepared a draft that entails what parts of this businesses should be banned and what should be preserved.” Local cryptocurrency firms are open for negotiations with the government, and, as Quartz points out, “have already agreed to be open for more scrutiny.” Additionally, they assure that solid Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are already implemented, while they are willing to introduce other suggestions. Shubham Yadav, co-founder of Coindelta, told the publication: “We are also ready to work with the government and assist them on creating a regulatory framework. We can help them in designing a monitoring system for blockchain where it can remotely monitor all transactions.” The central bank’s controversial ban has prompted both public and industry-led petitions, with some appealing to the courts on the grounds that the decision is unconstitutional. Thus, the community awaits July 20, when the Supreme Court of India will come up with a clear-cut position regarding the RBI blockade. However, it is worth noting that on July 3, the court ruled not to grant interim relief to those affected by the ban at a hearing of the Internet and Mobile Association of India (IAMAI) — organization comprised of members of several crypto exchanges that are challenging the RBI’s stance. At a previous petition hearing on May 17, IAMAI was reportedly requested to submit a representation against the central bank. In any case, blockchain is welcome Similar to China, the Indian crypto ban — although it is objectively less harsh than the Chinese one — coexists with the government positive stance toward blockchain technology. For instance, on the same day as it introduced the crackdown measures, the RBI announced its plans for issuing a central bank-backed digital currency (CBDC). The RBI Deputy Governor BP Kanungo told the Times of India at the time: “Technological innovations, including virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system.” Nevertheless, India is home to existing blockchain adoption initiatives as well. In May, seven of India’s largest banks joined a blockchain-powered trade finance initiative led by local IT giant InfoSys. The alliance, known as India Trade Connect, includes participants such as Axis Bank, ICICI and South Indian Bank. It was reportedly formed to conduct tests of InfoSys’ Finacle Trade Connect, a blockchain platform designed to “address the trade finance process requirements of banks.” Moreover, in June, the government of the south Indian state of Kerala announced that it will use blockchain for food supply and distribution in a new project headed by Keralan think tank the Development and Innovation Strategic Council (K-DISC). It will use blockchain and Internet of Things (IoT) technology to make the state’s supply network for dairy products, vegetables and fish more efficient, further establishing blockchain as a viable tool for the local economy. |
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| permlink | is-india-about-to-reverse-its-crypto-trade-ban |
| title | Is India About To Reverse Its Crypto Trade Ban? |
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"body": "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9lYTgyN2YwZjQ5Nzk2N2Y4NDZmYWJjMDM1ZWEwMjU0NC5qcGc=.jpg\nOn July 20, the Supreme Court of India will hold a hearing regarding the state of cryptocurrencies in the country. It is a decisive date for the local crypto industry that has been significantly suppressed in the past month by the Reserve Bank of India’s (RBI) ban on all banks' dealings with crypto-related businesses.\n\nThe hope for an overview of the hardline approach lives on, however, as last week a report citing anonymous sources in the government suggested that cryptocurrencies might be viewed as commodities in the future, and hence become regulated by relevant authorities rather than remain mostly banned.\n\nBrief history of cryptocurrencies in India\nIndia has not been perfectly cohesive in its stance toward crypto. The relationship between the two dates back to December 2013, when the RBI first issued a general public announcement to potential crypto users, warning them about typical risks involved — volatility, security and ties to illicit activities. Since then, the agency has been putting out similar notes in response to crypto’s gaining popularity, with the last one being issued on December 2017.\n\nThose kind of warnings, however, failed to address the legal status of Bitcoin (BTC) and altcoins in the country — as Dr. S.P. Sharma, Chief Economist, opined in an interview with the Economic Times of India in October 2017, “neither has the government formally brought Bitcoin under the definition of currency, nor has it made it illegal.” According to some experts, the state chose the passive role simply due to not having a coherent plan in mind. Thus, Anirudh Rastogi, managing partner at the law firm TRA, told Quartz India:\n\n“[Not having a concrete strategy] is the reason why they have been reiterating similar comments and warning the common investors to not go overboard.”\n\nNevertheless, as cryptocurrencies gained even more extreme momentum in December 2017 — when Bitcoin was infamously trading for $20,000 — the government stepped in with straightforward action, as India’s Income Tax Department began its major sweep. According to Business Standard, by December 13, the watchdog had visited nine virtual currency exchanges in Bengaluru, Hyderabad, Mumbai, Delhi and Kochi on the matter of tax evasion. Further, the agency reportedly sent tax notices to as many as 400,000-500,000 investors, based on their transaction history.\n\nThe situation became even less optimistic for cryptocurrencies after India’s Ministry of Finance compared Bitcoin to a ponzi scheme and local banks — including State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank — began taking strong action against crypto exchanges by either closing their accounts altogether or significantly curtailing operation.\n\nIn April 2017, the RBI announced that the bank would no longer provide services to any person or business that deals with cryptocurrencies, and that decision essentially became law on July 5, when the deadline expired. That means that Indian citizens are currently not able to buy and sell cryptocurrencies on exchanges. Instead, they need to use peer-to-peer networks, where mainly crypto-to-crypto operations are allowed. If an Indian citizen wants to exchange crypto to fiat, then they will need to turn to marketplace exchanges or the black market, the Times of India explains. Additionally, crypto exchanges and companies cannot receive loans from banks in India, according to the legislative.\n\nNew reality: outlawed crypto\nIt would be fair to argue that the Indian government’s hardline regulatory action thus far has only prompted the crypto industry to go underground, and has therefore become even less regulated. At this point, a significant number of local exchanges have either closed shop or partly ceased their operation: The first victims were BTCXIndia and ETHEXIndia, who chose to shut down back in March, when the RBI ban hadn’t been announced yet. BTCXIndia cited the Indian government’s “discouraging cryptocurrency trading” as the primary reason for closure at the time. Both of them are inactive to this day.\n\nThe largest remaining players, namely Zebpay and Unocoin — Coinsecure is still offline due to the recent cyberattack — now warn their clients that rupee withdrawal processes can be compromised at any time due to the RBI ban deadline. In its announcement regarding the matter, Unocoin mentions that they are “in the process of deploying new mechanisms for INR deposits and withdrawals,” and has introduced Unodax — a peer-to-peer solution bypassing the RBI ban. Similar services have been rolled out by other Indian exchanges, such as WazirX and Koinex.\n\nMeanwhile, as the Times of India reports, a number of opportunists used the RBI ban for their advantage by cashing in on the panic sales in India via \"arbitrage\" — a strategy that implied buying BTC within the Indian market on the cheap, transferring it to a middleman in another country, who would then sell it there for a better rate and share the profit among the both parties involved.\n\nEven more confusion was caused by a Bloomberg article quoting anonymous parties with “direct knowledge” of the government plans to impose an 18 percent goods and services tax (GST) on crypto, as it could hardly coincide with the RBI ban — how can cryptocurrencies be taxed, when one can’t even trade them? Nevertheless, such news indicate that more positive regulation might be on the way, or merely that different government agencies take varying approaches toward crypto, not coordinating their moves among each other.\n\nNew hope: the commodity route\nOn July 11, Quartz India published an article dubbed “India may not ban cryptocurrency after all” — the piece cited an anonymous source and claimed that “a finance ministry panel set up to study [virtual currencies] may even suggest that they be treated as commodities.” Thus, a senior government official privy to the matter told the news outlet:\n\n“I don’t think anyone is really thinking of banning [cryptocurrencies] altogether. The issue here is about regulating the trade and we need to know where the money is coming from. Allowing it as [a] commodity may let us better regulate trade and so that is being looked at.”\n\nViewing cryptocurrencies as commodities resembles the U.S. Commodity Futures Trading Commission’s (CFTC) approach. The U.S. agency that fully controls commodity derivatives transactions in the country claims that tokens are commodities: Essentially, in their view, Bitcoin is closer to gold than to conventional currencies or securities, as it is not backed by the government and doesn’t have a liability attached to it.\n\nShubham Yadav, co-founder of Coindelta — an Indian cryptocurrency exchange — agrees with that viewpoint:\n\n“Though cryptocurrencies belong to a new class of financial assets, we can still welcome them as commodities and not currencies because of their high volatile prices.”\n\nThe cryptocurrency panel cited was set up in December 2017 with the purpose of understanding the expanding crypto industry, and it includes Subhash Chandra Garg, secretary in the department of economic affairs; BP Kanungo, deputy governor of the RBI; and Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India. It is the second cryptocurrency panel in India, while the first panel — established by the Narendra Modi government in April 2017 — recommended “slowly choking” the industry: It couldn't be stopped in one day, as people would lose a lot of money, they argued, which is why a more timely approach was needed.\n\nIn June, Subhash Chandra Garg, the head of the newer — and more crypto friendly — panel, told local news outlet ET news that his task force was almost ready to introduce a draft for a crypto regulatory framework and promised to deliver it within the first two weeks of July — no such announcements have been made by press time, however.\n\n“We are fairly close to developing a template [for the cryptocurrency industry] that might be in the best interests of our country. We have moved pretty far in this regard, and we have prepared a draft that entails what parts of this businesses should be banned and what should be preserved.”\n\nLocal cryptocurrency firms are open for negotiations with the government, and, as Quartz points out, “have already agreed to be open for more scrutiny.” Additionally, they assure that solid Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures are already implemented, while they are willing to introduce other suggestions. Shubham Yadav, co-founder of Coindelta, told the publication:\n\n“We are also ready to work with the government and assist them on creating a regulatory framework. We can help them in designing a monitoring system for blockchain where it can remotely monitor all transactions.”\n\nThe central bank’s controversial ban has prompted both public and industry-led petitions, with some appealing to the courts on the grounds that the decision is unconstitutional.\n\nThus, the community awaits July 20, when the Supreme Court of India will come up with a clear-cut position regarding the RBI blockade. However, it is worth noting that on July 3, the court ruled not to grant interim relief to those affected by the ban at a hearing of the Internet and Mobile Association of India (IAMAI) — organization comprised of members of several crypto exchanges that are challenging the RBI’s stance.\n\nAt a previous petition hearing on May 17, IAMAI was reportedly requested to submit a representation against the central bank.\n\nIn any case, blockchain is welcome\nSimilar to China, the Indian crypto ban — although it is objectively less harsh than the Chinese one — coexists with the government positive stance toward blockchain technology. For instance, on the same day as it introduced the crackdown measures, the RBI announced its plans for issuing a central bank-backed digital currency (CBDC). The RBI Deputy Governor BP Kanungo told the Times of India at the time:\n\n“Technological innovations, including virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system.”\n\nNevertheless, India is home to existing blockchain adoption initiatives as well. In May, seven of India’s largest banks joined a blockchain-powered trade finance initiative led by local IT giant InfoSys. The alliance, known as India Trade Connect, includes participants such as Axis Bank, ICICI and South Indian Bank. It was reportedly formed to conduct tests of InfoSys’ Finacle Trade Connect, a blockchain platform designed to “address the trade finance process requirements of banks.”\n\nMoreover, in June, the government of the south Indian state of Kerala announced that it will use blockchain for food supply and distribution in a new project headed by Keralan think tank the Development and Innovation Strategic Council (K-DISC). It will use blockchain and Internet of Things (IoT) technology to make the state’s supply network for dairy products, vegetables and fish more efficient, further establishing blockchain as a viable tool for the local economy.",
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2018/07/17 03:10:48
| author | infinium |
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| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/17 02:46:33
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}infiniumpublished a new post: study-38-percent-of-south-africans-wish-they-had-invested-in-crypto-before2018/07/17 02:46:24
infiniumpublished a new post: study-38-percent-of-south-africans-wish-they-had-invested-in-crypto-before
2018/07/17 02:46:24
| author | infinium |
| body | https://images.cointelegraph.com/images/725_aHR0cHM6Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy82MWQ2NDc4NjZjN2UzZWJjMzNiYzkzMmE5OTU0YjFiNi5qcGc=.jpg Pan-African financial services company Old Mutual Limited has released an annual Savings and Investment Monitor survey for South Africa, which polled respondents on awareness of and attitude toward cryptocurrencies in the country. The recent study revealed that respondents generally have a positive regard of digital currencies, with 38 percent of respondents agreeing with the statement “I wish I had invested in [crypto] before” and 71 percent agreeing that “You can make a lot of money with them.” However, 43 percent of respondents agreed with the statement “They are bad news, like a pyramid scheme” and 53 percent said they do not understand how cryptocurrencies work. In terms of overall awareness, 40 percent of respondents answered that they were aware to varying degrees, while 60 percent said they were not aware of cryptocurrencies. In comparison with Europe, Australia, and the U.S., a survey conducted by a research company Ipsos on behalf of ING Bank B.V. revealed that 66 percent of Europeans had heard of cryptocurrency, while 33 percent agreed with the statement that crypto is the “future of spending online.” The share of awareness of crypto is equal to or exceeds 50 percent in every surveyed country, with the highest rate in Austria (79 percent) and Poland (77 percent). In the U.S., 57 percent of respondents have heard of cryptocurrency. While the general public in South Africa shows a somewhat positive stance toward digital currency as an alternative form of investment, the country’s central bank chose to call digital currencies “cyber-tokens” because they “don’t meet the requirements of money.” The bank established a fintech task force to review its stance toward private cryptocurrencies and address regulatory issues in order to develop a relevant policy framework and regulatory system. In May, South African Police were pursuing an alleged cryptocurrency investment fraud with over 28,000 investors suffering losses exceeding 1 billion rand ($80.4 million). As per the Hawks, an investigative unit of South Africa’s Directorate for Priority Crime Investigation, “targeted members of the public are believed to have been encouraged by BTC Global agents to invest with promises of 2% interest per day, 14% per week and ultimately 50% per month. Payments were allegedly made every Monday. Some of the investors got paid in terms of the agreement. However, the payments suddenly stopped.” |
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2018/07/16 04:28:39
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2018/07/16 04:27:57
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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"body": "Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post!\nIf you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ).",
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2018/07/16 04:27:51
| author | infinium |
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2018/07/16 04:27:48
| author | infinium |
| body | https://images.cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy85ZGZmMWUzZWM2ZjEyYzliMjAyMzZhN2VlNzRiNTlhMC5qcGc=.jpg SIX Group, the parent company of Switzerland’s principal stock exchange, has revealed that it is “open” to the possibility of offering cryptocurrency trading services on its digital trading platform. The platform, still in development, is set to launch by mid-2019, SIX Group’s spokesman told the Swissinfo news outlet in an interview July 15. Swiss Infrastructure and Exchange (SIX) Group operates the country’s largest stock market, and is planning to launch a “fully-regulated” platform for digital asset trading by mid-2019. The service is set to offer a “complete” range of services from, including initial coin offering (ICO) consulting for those ICOs that are not classified as securities. In the interview with Swissinfo, SIX Group spokesman Stephan Meier claimed that there is a “real need” for the establishment of “transparency and accountability in the crypto-world.” According to Meier, this would benefit both the businesses and investors in the crypto industry, and the participants of traditional markets. “Not only traditional financial service providers and investors are interested in this, but also numerous companies and investors who want to take advantage of the new digital opportunities for raising capital and trading in digital assets.” Meier clarified that SIX Group has not yet made a decision on what “specific products will be offered to list and trade” on its upcoming platform, noting that the question of whether cryptocurrency trading will be available is still “open.” He added that the company would “technically be able to add various digital assets to the platform,” stressing that each digital asset will undergo a “due diligence process” before being added. Stephan Meier also claimed that the company “want[s] to build a bridge between the traditional financial services and digital communities.” He emphasized that SIX Group is working in “close consultation” with regulatory authorities to find out “in which areas adjustments or additions to the legal framework may be necessary.” Earlier this week, Switzerland has been reported as the second “most favorable” country for ICOs in terms of funds raised, outperformed only by the U.S. |
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2018/07/13 02:53:57
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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2018/07/13 02:53:54
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}infiniumpublished a new post: new-york-state-regulators-approve-new-power-rate-structure-for-crypto-miners2018/07/13 02:53:48
infiniumpublished a new post: new-york-state-regulators-approve-new-power-rate-structure-for-crypto-miners
2018/07/13 02:53:48
| author | infinium |
| body | https://images.cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy84NWMyY2Q5ZjdjZTAxYmU4NjIyMjFmNjU3ODk0MTVkNi5qcGc=.jpg New York state regulators have approved a new electricity rate scheme for cryptocurrency miners that will allow them to negotiate contracts, Bloomberg reported July 12. According to Bloomberg, several months ago the state of New York gave permission to 36 municipal power authorities to charge crypto miners more than other consumers. The Massena municipal utility will introduce a new rate structure for crypto miners who are interested in conducting operations there. The utility will consider contracts on a case-by-case basis, which will protect other utility customers from increased rates. New York State Department of Public Service Chair John Rhodes said in a statement: “We must ensure that business customers pay a fair price for the electricity that they consume. However, given the abundance of low-cost electricity in Upstate New York, there is an opportunity to serve the needs of existing customers and to encourage economic development in the region.” Due to an abundance of hydroelectricity, New York is known for cheap electricity rates. Residential consumers in Massena pay an energy charge of about $0.039 per kilowatt hour, where the national average residential rate is $0.13 per kilowatt hour. The state has become a destination for digital currency miners, who employ powerful specialized computers for the energy-intensive activity. Regions rich in hydroelectric power have resisted the influx of miners over the past year either through outright bans on the industry or increased power prices. In March, the city of Plattsburgh, New York passed a moratorium on new crypto mining operations in the city. The biggest mining operation in the city reportedly used 10 percent of Plattsburgh’s 104 megawatt hour (Mwh) electricity allotment in January and February. In Quebec, Canada, provincial utility Hydro-Quebec proposed a new regime under which blockchain companies will be required to bid for electricity and quantify expected job creation and investment. The utility seeks to allocate up to 500 megawatts, in addition to 120 megawatts of already existing initiatives. The starting rate is 1 Canadian cent ($0.0076) per kilowatt hour, which is 20 percent above the standard price. |
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| title | New York State Regulators Approve New Power Rate Structure for Crypto Miners |
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2018/07/12 02:50:36
| author | infinium |
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2018/07/12 02:35:33
| author | infinium |
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2018/07/12 02:20:39
| author | cheetah |
| body | Warning! This user is on my black list, likely as a known plagiarist, spammer or ID thief. Please be cautious with this post! If you believe this is an error, please chat with us in the #cheetah-appeals channel in [our discord](https://discord.gg/7FkETjJ). |
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[]