A Japanese Village Is Planning Its ICO
A small Japanese village is turning to cryptocurrencies in an effort to bolster its economy.
Nishiawakura – a village of approximately 1,500 people in the Okayama prefecture in Japan – revealed its plan last week to launch a regional initial coin offering as a way to secure funding. The municipality, in particular, relies on forestry to support its economy - about 95 percent of the town is made up of forest area, according to the village's official announcement.
Nishiawakura Coin (NAC) will be issued by Nishiawakura's Token Economy Association. While the launch date has not yet been released, some details about the coin can be found on its official website.
The village launched the...
Escalation Overflow
Hi Everyone,
Financial markets appear to be reacting to the latest escalation in the trade war between the U.S. and China.
It now appears that the United States may have the upper hand due to the wide trade imbalance between the two nations. Indeed, it would be very difficult for the Chinese to find $200 billion worth of US imports to curtail.
Under the circumstances, I guess you could say that markets are holding up pretty well, as we’ll see below. Even though the declines are sizeable, this doesn’t come close to the volatility we saw in February.
President Trump’s approval ratings are now as high as they’ve ever been despite outrage over recent hardline anti-immigration actions that saw authorities separating more than 2,300 children from their parents.
@MatiGreenspan
eToro, Senior Market Analyst
Today’s Highlights
- Stocks Minor Sell-off
- What Brexit Negotiations?
- Crypto Off the Lows (Focus on ETC)
Traditional Markets
Looking at the financial markets today it seems there is a bit of fear creeping in.
The Chinese stock market is down 3% and the Japanese market isn’t far behind with losses of 2.5%. Though these are quite substantial movements for any stock index, by putting things in context on the long-term chart we can see that it’s not the end of the world.
Please notice how in February, before the whole trade tensions began, the stocks experienced a much sharper sell-off.
On this chart of the VIX we can also see that even though volatility spiked yesterday, it’s still way below the levels seen...
Decentralized Asset Management Network RigoBlock Partners with TokenMarket
Lugano, Switzerland - June 19, 2018 - RigoBlock, the decentralized asset management protocol that allows users to create and run a fund on the Ethereum blockchain, has announced its partnership with leading ICO advisory firm TokenMarket. The recently announced relationship comes as part of RigoBlock’s aim to roll out its blockchain infrastructure programme later this year.
The Rigo token, which is built on top of the RigoBlock platform, allows users to: establish a meritocratic and incentives-based framework for traders, separating the fee logic from the funds and create an incentive mechanism on top of the token. All of these elements will allow the Rigo token to become easily accessible and more cost effective for traders to use, which aims to reshape the $63 trillion dollar asset management industry.
TokenMarket will deliver a set of building blocks in order for the RigoBlock project to run smoothly. These include: token issuance and creation, marketing, PR and community management, as well as providing its award winning advisory services to the RigoBlock team.
“We are very excited to be working together with TokenMarket to ensure that RigoBlock can be a success” Gabriele Rigo, CEO and Founder of RigoBlock, said. “TokenMarket’s experience in this industry is second to none and we are pleased to be working together” Rigo stated....
The Rise of Cryptocurrencies Securities Lawsuits
OPINION
As the cryptocurrency market develops and grows, cryptocurrencies have become the subject of an increasing number of securities lawsuits. This year alone, more than 10 cryptocurrency securities lawsuits have been filed in federal district courts throughout the country.
While regulations and laws governing the cryptocurrency market continue to develop, recent activity involving cryptocurrency has raised a host of questions concerning investor protections. As federal and state regulators and policymakers grapple with how to regulate digital currencies, some investors have sought protection through securities lawsuits.
Based on the number of lawsuits filed to date and the recent decline in the price of cryptocurrencies, such litigation will likely increase in volume in the coming year. Investors should be aware of recent cryptocurrency case law to safeguard their rights and preserve their legal remedies. A selection of recent securities lawsuits against five cryptocurrency companies is highlighted below to illustrate some of the typical cases in which investors have found reason to pursue legal action against cryptocurrency companies.
Longfin Corp., a global cryptocurrency company, was a “pure stock scheme.” On April 9 and April 19, 2018, two classes of investors sued Longfin and its top officers for allegedly violating Sections 10(b) and 20(a) of the Securities Exchange Act. The investors allege that Longfin misrepresented the location of its primary offices and the identity of key employees in its public statements; had numerous material weaknesses in its operations and internal financial reporting controls; and was ineligible for inclusion in certain stock indices.
The investors allege that when this information was made public, Longfin’s stock value declined more than 86 percent in two weeks. The investors are attempting to recover damages associated with the decline in stock value.
Takeaway: This case is an example of a cryptocurrency company’s shares plummeting after company executives disclosed financial information to the public. Prospective investors should be wary of giving too much credibility to unsubstantiated statements made by cryptocurrency companies and should be selective when determining the trustworthiness of sources.
Nano: Danger of Foreign Exchanges and Hacks
Nano, a U.S.-based blockchain developer and cryptocurrency issuer, was involved in a hack scandal. On April 6, 2018, a class action was filed against Nano and its key officials for allegedly violating federal securities laws.
The complaint alleges that Nano engaged in an unregistered offering and sale of securities by issuing cryptocurrencies on BitGrail, an Italian cryptocurrency exchange, in violation of Sections 12(a) and 15(a) of the Securities Act. The complaint also alleges that Nano wrongly encouraged investors to invest assets with BitGrail, which lost $170 million worth of the cryptocurrency “XRB” due to a hack on the exchange platform. The investors are asking for, among other relief, rescission of their investments.
Takeaway: This case is noteworthy because it illustrates the vulnerabilities of cryptocurrency exchanges and their susceptibility to theft. To protect cryptocurrency investments from possible hacks and cyber theft, investors should take a number of precautionary measures, including closely examining where funds are being held and inquiring about the security controls in place to prevent potential hacks.
Giga Watt: Mismanagement Allegations
Giga Watt, a U.S.-based cryptocurrency startup, was a promising venture that was arguably mismanaged by its founder. On , an investor sued Giga...
A Comparison of Digital Transformations: Blocknet and Evernote
Blockchain technology. The Evernote app. Two completely different worlds, right? Well, there might be a whole lot more in common than you may think. Before the internet took an irreversible hold on the world, digital note-taking took place on simple programs like Notepad. Notes could be easily taken and saved onto your local—but isolated—machine. As the internet grew, the need to access this type of saved information across multiple devices soon became vital. Eventually, Notepad was usurped by the Evernote app, which utilized the power of “the cloud.” Evernote allowed notes to now become accessible across multiple devices and via peripheral services, including Quickbooks, Dropbox, Google Drive and many more.
As the internet opened the door to a new wave of cloud applications—just like Evernote—Blocknet is creating an internet of blockchains for a new generation of decentralized applications that can interconnect any blockchain to another. Blockchains today are at the cutting edge of technology, yet their isolation is similar to that of the original Notepad app. Specifically, there’s an obstacle that needs to be tackled: blockchains can only communicate with themselves and cannot communicate with any other blockchain. Data cannot be transferred between blockchains. This places enormous limitations on what blockchain technology (as a whole) has the potential to achieve. Blockchains need to evolve in the same way that Notepad lead to Evernote. Blockchains should be able to freely and effortlessly connect with any other blockchain.
The Internet of Blockchains
Blocknet has built an interoperability infrastructure that enables blockchains to connect with one another, creating an “Internet of Blockchains.” The Blocknet protocol gives blockchains the ability to communicate, opening the door for cross-chain applications. By allowing blockchains to integrate with each other, directly chain-to-chain, without being a middleman to the data itself, the Blocknet protocol gives any application the ability to utilize different blockchains. In addition, the Blocknet protocol offers a solution to the issue of...
Crypto Critics Ignite After EOS Blockchain 'Freeze'
You may have missed it, but over the weekend, transactions on the live EOS blockchain came to a complete – yet temporary – halt.
Coming less than 48 hours after the much-anticipated blockchain network went live, the announcement kicked off a social firestorm (not to mention a reported 5 percent drop in the value of the network's cryptocurrency).
Some background: the EOS launch, reported last week by CoinDesk, came at the end of a topsy-turvy period illustrated by last-minute code tweaks, an elaborate election of entities tasked with creating the network's transaction blocks, and, of course, the $4 billion EOS token sale.
So, it came as a surprise to some that the network would run into enough trouble that it triggered a failsafe network freeze. And unsurprisingly, critics of EOS were quick to pounce.
However, in the fast-moving world of crypto, there was already damage done to the network's reputation.
That's not to say that EOS didn't have any commentators – or outright supporters – going to bat for it during the weekend debate. From a more supportive perspective, the weekend stoppage was seen largely as a growing pain and a symptom of a network controlled by no single entity, still getting its bearings so soon after...
Accounting Blockchain (TAB) Token Sale
ABOUT
The future of accounting, saving businesses billions and sparing the individual sole reliance on expensive accountants.Integrating blockchain into the industry streamlining the supply chain, saving money to businesses, and moving towards a healthier economy away from the risk of fraud and away from present gross accounting inefficiencies.
Owning TAB tokens gives access to three solutions to 3 problems in dire need...
Colombian Cryptocurrency Exchange Won’t Go Down Without a Fight
In an unregulated crypto environment task of managing a crypto exchange is one of the hardest ones. One of the prerequisites for successful crypto exchange is a good cooperation with a traditional bank. This is a must-have for the exchanges as they need to have some sort of official bank accounts in order to regulate their money flow. In Europe, there are certain regulations and banks are starting to build business relationships with crypto exchanges which are a great sign. European crypto exchanges at least know what to expect, there are no unpleasant surprises dealing with the European banks. Unfortunately, this is not the case in other parts of the world.
Buda to challenge Colombian banks
Buda, one of the biggest crypto exchanges in South America recently encountered problems after three major banks closed their accounts without giving an official notice, as CoinIdol reports. Buda’s director Alejandro Beltran noted that crypto exchange is doing everything in their power to get back their closed account and resume working.
Buda is a crypto-to-crypto exchange with 35,000 accounts in Colombia and over 45,000 in Chile, Peru, and Argentina. Being that large, Buda represents one of the pillars of the crypto community in South America. Buda's director...
The ICO Rating and Voting of CoinMarketPlus
The market of ICO initial coin offering is highly volatile and in such market you have no precise information about any specific ICO or live toke sale. CoinMarketPlus is a trusted platform, where you will get genuine list of the best and top ICOs. The company has a dexterous team of professionals, who rate the ICOs on various parameters like white paper, the team behind the ICOs, the potential of ICOs in the market. Apart from the ICO rating, ICO voting is a new initiative that is started by the CoinMarketPlus; it is the process where users vote their favorite ICO. In this way users get an exact idea that which ICO is worth investing. The rating process of CoinMarketPlus is transparent; our team go through the following process to rate the ICO.
The white paper of the ICO:
White Paper is the core part of ICO initial coin offerings. A professional startup mentions every facts and figures in White Paper. So the expert team...
ORCA solution for instant crypto to euro withdrawals
Want to cash out Ethereum or other cryptocurrencies from an exchange instantly without paying ridiculous fees? ORCA can help you. The passage linking cryptocurrencies together regular finance is being laid. Yesterday ORCA Alliance has presented their technological case for the community during a live event streamed online. Mere 6 seconds. That’s how long it took ORCA to complete a transfer from a cryptocurrency exchange straight to user's bank.
The demonstration was opened by Laurent Bourquin, Chief Operating Officer of ORCA and former investment bank analyst who presented the changing landscape of global finance.
"The whole banking sector is being disrupted <…>. A couple of years ago it had been inconceivable to think that a start-up can enter the closed market of retail and investment banking and take over a part of its market share" - claimed L. Bourquin.
According to him, new IT-based market players are challenging banks and providing cheaper, more efficient services. To intensify the changes further, Open Banking is already making it's way to Europe while other countries are watching closely to jump onboard. Most importantly, cryptocurrencies are capturing people’s attention and have become the most recent trend widely discussed in the...