OKEx Prepares to Launch USDT-Margined Perpetual Swap Trading, Announces TMMR Risk Management Feature for Spot Margin Trading

OKEx, the leading global cryptocurrency futures exchange platform has announced that it is going to soon launch its USDT Margined Perpetual Swap Trading feature. According to the announcement, the latest USDT denominated linear contract offering is set to go live on December 16, 2019, following the simulation phase which went live on December 4. The simulation phase will go on until the 14th of this month.
The USDT-Margined Perpetual Swap Trading feature is an add-on to the recently launched USDT Futures Trading offering. With Perpetual Swap Trading, users can long or short a position or hedge against USDT’s price movement without having to consider the expiry of the contract or the need for roll-over. The USDT-Margined Perpetual Swap will initially support 9 different trading pairs including BTC, EOS, ETC, ETH, LTC, XRP, TRX, BCH and BSV, with a distinct possibility of more additions in the future. Traders will also be able to avail 0.01-100x leverage to get the most out of their orders. By eliminating the need to reopen new positions, the latest feature will also help traders avoid paying extra transaction fees generally incurred while opening a new contract.
The Perpetual Swap feature for other cryptocurrencies has been around for a while on OKEx. It is received well by the community, as an ideal instrument for long-term investment and risk hedging. With the USDT-Margined Perpetual Swap, the instrument is quoted and settled in USDT tokens, with each contract having a face value of a fixed amount of digital tokens and no expiry.
Features of OKEx USDT-Margined Perpetual Swap Trading
Some of the key features of the new USDT-Margined Perpetual Swap Trading offering includes:

Availability of 9 USDT pairs
Tiered Maintenance Margin Ratio System & Partial Liquidation
Leverage ranging from 0.01X to 100X
Algo trading supported
API supported
24/7 trading

Risk Management on OKEx
OKEx offers enhanced risk management system for derivatives trading on its platform. Some of the components includes:

Mark Price system to minimize huge fluctuations in price and unusual liquidation.
Tiered Maintenance Margin Ratio (TMMR) System to prevent liquidation of large positions and its after effect on market liquidity
Forced Partial Liquidation Mode that eliminates market impact caused by many liquidated orders.

A break down of TMMR in the context of USDT-Margined Perpetual Swap:

The Tiered Maintenance Margin Ratio (TMMR) system will also be extended to cover spot margin trading on OKEx, starting 07:00-08:00 (UTC) on December 9, 2019. TMMR has been around as part of OKEx’ enhanced risk management system since the beginning of this year, and so far, it was offered to accounts participating in Perpetual Swap Trading on the platform. With its introduction to Spot Margin Trading, users will now experience a lower leverage risk combined with higher borrowing limits. The TMMR system efficiently manages the leverage depending on the borrowing amount. If the borrowing amount is higher, the required maintenance margin ratio will also increase which will in turn, lower the available maximum leverage for that user. By doing so, the system helps traders avoid cascade liquidation while offering a wide choice of leverage levels of up to 10x and enhanced lending limits.
Learn more about the TMMR – https://okexsupport.zendesk.com/hc/en-us/articles/360037209112
 
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Central Banks Issuing Digital Currency Could Be a Bluff; Here’s How

Going by recent headlines, it appears as though central banks around the world are planning to or in the process of creating their own digital currencies.
The coins, by their disruptive nature, are bound to attract attention from these banks. And with Facebook’s plans to launch the Libra, there are ever-growing challenges to their monetary authority and uncertainty about how money will be used in the coming years.
Central Bank Digital Currency, a Bluff?
Despite all this talk about central banks launching their own digital currencies, it’s an “elaborate bluff,” according to Financial Times. 
Christine Lagarde at the European Central bank (ECB) gave a contradictory position this week when she told the European Parliament that central bank-issued digital currencies (CBDCs) were “an area where we have to rush slowly.”

“There is clearly a demand and there is clearly a technology that would support it, but clearly there are also risks for the international monetary system and financial stability at large,” she added.

It is clear that the idea of the Libra — a digital currency that promises to make payments quicker, cheaper, and easier for Facebook’s almost 2.5 billion users — has been a serious wake-up call for central bankers. They worry about all kinds of risks, including its operational robustness, customer protection, money laundering, terrorism finance, and data privacy.
But the biggest concern is that Libra, and other digital currencies like Bitcoin, have the potential to dilute the main power of central banks: their ability to control the supply of money.
Benoît Cœuré, the ECB director who led the G7 working group on the Libra, has likened Facebook’s digital currency to an “elephant in the sandbox;” French finance minister Bruno Le Maire warned the country could ban the Libra.
Faced with such concerns, central banks are moving cautiously.
Contradictions Apparent
Of note is that ECB insiders say it has no laboratory working on a digital euro and little intention to create one any time soon.
It seems most of these recent comments seem designed push private sector banks into improving inefficient, costly, and time-consuming cross-border payments.
Cœuré recently praised an initiative by about 20 large European banks including BNP Paribas and Deutsche Bank to create a new digital payments system: the Pan European Payment System Initiative (Pepsi). The idea is to enable instant cashless payments through a European rival to ApplePay in the US and Alipay in China.
In the same speech, Cœuré again touched on the possibility of the ECB issuing its own digital currency, saying: “Potential central bank initiatives should not discourage or crowd out private market-led solutions for fast and efficient retail payments in the euro area.”
With the contradictions apparent, this talk of central banks issuing digital currencies could just be a distraction as they are secretly hoping the private sector will come up with solutions that make issuing a CBDC unnecessary altogether. 
What is for certain is that central banks are worried about what the future holds for them.
Featured Image from Shutterstock
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France Announces Digital Currency Venture: Crypto Bulls Roar

According to a report from the AFP News Agency, France’s central bank will be launching a digital asset (decisively different than a crypto asset) in the coming year.
France to Launch Digital Currency
The outlet reported via Twitter, the Bank of France’s governor, Francois Villeroy de Galhau, said in a recent statement that his organization will start running “experiments” rapidly on digital assets and will “launch a call for projects” before the end of the first quarter of 2020 — literally just three or four months away. Galhau made this comment at ACPR, a French regulatory agency for banks and insurance based in Paris.
He further asserted that this venture, if launched, will not promote widespread anonymity in large transactions:
“Thresholds on the amounts of anonymous transactions, as is already done in France for payments in electronic money or cash, could be introduced for this purpose.”
If France launches its digital asset before Q1 of 2020, it could be the first leading first-world country to have such a venture, as it would come before China’s digital renminbi.
Crypto Bulls Excited
The crypto community has reacted to this news, noting that this move from France’s central bank effectively validates the entire premise of cryptocurrency. Prominent Bitcoin commentator RhythmTrader noted that “within a decade, governments, banks and corporations went from laughing at the idea of Bitcoin to trying to imitate it,” clearly illustrating the meaning of this venture to the cryptocurrency community.

BREAKING: France's central bank will launch tests on its own digital currency by next year.
Within a decade, governments, banks and corporations went from laughing at the idea of bitcoin to trying to imitate it.
That should blow your mind.https://t.co/o93kzWNd9W
— Rhythm (@Rhythmtrader) December 4, 2019

Anthony Pompliano of Morgan Creek Digital echoed this line, writing in his own tweet on the subject matter that it’s “just a matter of time” before “every” central bank pursues such strategy. Pompliano added that Bitcoin has an advantage over these projects in that “these central banks can’t copy the separation of state and money created by true decentralization.”

WHOA.
France’s central bank will be launching a digital currency.
Just a matter of time before every central bank pursues this strategy.
Bitcoin has the one advantage that these central banks can’t copy though — separation of state and money created by true decentralization.
— Pomp (@APompliano) December 4, 2019

Featured Image from Shutterstock
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Bitcoin, Ethereum: Key Metrics Reflect Positive Sentiment Moving Into December

As prices slowly recover following a rough November, metrics for bitcoin and Ethereum illustrate positive industry sentiment moving forward.
These metrics include measures related to active addresses, fees, movement, mining, and more, as outlined in Coin Metrics’ State of the Network: Issue 28.
Ethereum Activity
In the past 24 hours, over 70,000 new addresses were created on the Ethereum network, with 245,000 active addresses, a sign that things are still moving forward for the second largest cryptocurrency despite the coin facing flack as of late over failed projects and disappointed investors.
Other positive metrics include over 9 million blocks mined on Ethereum and 15.6 million addresses with a greater than zero account balance.
In conjunction, Ethereum fees came back down this week, dropping 14.4% after growing by over 20% the week before. This is likely related to the record number of ERC-721 transactions made on Gods Unchained, a popular digital trading card game.
Bitcoin Rundown
After dipping to a six month low of 1.23 last week, the Bitcoin market value to realized value (MVRV) ratio started to increase again over the past week. As of Sunday, December 1, the Bitcoin MVRV was 1.32. The MVRV ratio, calculated by dividing market cap by realized cap, is useful for getting a sense of when the exchange traded price is below “fair value,” and is also useful for spotting market tops and bottoms.
In other metrics, after reaching all-time highs in May, the amount of Bitcoin that has not moved in over one year has since been declining. As of November 31, 3,174,760 Bitcoin had not been moved in at least one year; comparatively, there was 4,500,526 Bitcoin that had not been moved for at least a year on May 18, 2019. 
The following chart shows the amount of Bitcoin not moved over X years (where X ranges from one month to 5 years):
Bitcoin Not Moved In Over X Years.
Although slowly declining over the year, these large proportions of Bitcoin left unmoved help illustrate a bullish market sentiment. Despite the recent drop to just below $7,000 late-November, Bitcoin is up almost 200% in the past year, moving from a value of $3,840 on December 3, 2018 to $7,320 at time of publication. 
Further Market Insights
In another good sign for the cryptocurrency industry, Decred daily active addresses are approaching new all-time highs. On November 16, Decred had 25,315 active addresses which is its highest daily total since April 23, 2016.
Zcash, on the other hand, is trending in the opposite direction with active addresses approaching all-time lows. As of December 1, Zcash had 11,218 daily active addresses, which is the lowest since October, 2016. 
With November over, Bitcoin is down 20% for the month, although slightly higher than the lows that occurred on November 25. Most other major digital assets are down a similar magnitude. Over the past week, Monero, EOS, and Cardano have staged decent recoveries although all are down for the month. 
In closing, let’s put aside the technicals and consider the perspective of Fundstrat’s Thomas Lee, who recently spoke with CNBC. When asked about the downturn in the cryptocurrency markets and if it will continue heading into 2020, Lee — though he noted “bearish headwinds” — said no.
He argued that the surge in the price of American equities sets the stage for risk-tolerant investors to add capital to Bitcoin and other markets that in the past may have been deemed too “risky” from a classical perspective.
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Credits and Alibaba Cloud Storming Chinese Market With Blockchain-Based Solutions

The Credits open-source decentralized blockchain solutions provider and Alibaba Cloud have announced the joint launch of operations in the Chinese logistics market.
The solution being launched jointly by the Credits platform and Alibaba Cloud is aimed at solving the multiple issues in the logistics market using blockchain technologies. The approach will be implemented through several business models involving 3PL.
The business model being employed under the 3PL approach includes the use of low-cost and versatile frequency sensors that would be installed inside Shipping Containers to monitor their movements and status via the immutable Credits blockchain database.
“China is a thriving market of online purchased goods and the country is actively exploiting this segment. We have developed a lot of solutions that needed to be taken to improve a sector as diverse and immense as logistics in a country with a population of well over 2 billion”, as stated by Credits CEO, Igor Chugunov. 
Given the rising demand for personalization from modern customers and the issue of a lack of trust between parties within the logistics chain, the use of the Credits platform blockchain could offer a variety of added benefits to the industry. The use of the Smart Payment Service based on the combined Alibaba Cloud and Credits blockchain platforms is a solution that is currently being implemented by the companies in the Chinese market. The Credits blockchain provides secure transactions between the parties to the delivery process and logistics providers, such as DHL.
“Actually, there are many aching problems in logistics right now. And blockchain offers the solution, it is the catalyst of global technology development today. Various operations can be easily reconfigured via Smart Contracts and Clouds, which is a great opportunity for customers to help themselves. Both customers and companies really get lots of benefits”, as stated by Yuli Bai, CEO of the Lenovo New Vision.
The use of secure smart contracts and immutable blockchain databases provided by the Credits platform is a technologically advanced and reliable solution to the multiple issues of the Chinese logistics market.
 
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OKEx Continues to Dominate the Crypto Futures Derivatives Market in Volume

Futures trading is one of the common trading activities in traditional financial markets, and it is no different when it comes to the cryptocurrency world as well. Currently, there are plenty of platforms that offer cryptocurrency futures trading options, and the leader among them by a huge margin is OKEx, which has managed to gain the tag of the world’s largest futures cryptocurrency exchange.

Crypto derivative market reported volume exceeds $20 billion in the wake of bitcoin price decline#bitcoin #btc $BTC #BItMEX pic.twitter.com/8seKkX52ZH
— CoinGecko | coingecko.eth (@coingecko) November 22, 2019

OKEx takes the top spot on Nov 22, 2019 – CoinGecko data
The platform’s claim for fame is further supported by a range of features offered to its customers. These features are designed to help them optimize their trading practices to place profitable trades while minimizing associated risks to an extent. In fact, the most recent crypto futures offering on OKEx is the USDT-Margined futures which went live earlier this month. Some of the salient features of this offering include 0.01-100x leverage, face value as less as 0.0001 BTC, Tice Size of 0.1, linear contracts and intuitive trading experience. The crypto futures contracts on OKEx also offer a lot of flexibility to the traders, thanks to the platform’s size, userbase, and support for an endless list of cryptocurrencies that can be paired against each other in various combinations.
According to company sources, most of the new features are introduced based on the inputs and feedback received from the community. This has led to numerous developments in the recent past, which have had a direct bearing on the usability, convenience, and profitability of traders. Earlier this year, OKEx shifted from weekly settlements (10 AM on Fridays) to daily settlements (10 AM every day) in CEST time. By doing so, the platform ensured that traders aren’t starved of their own funds for an entire week, which they can now use to open more trades.
In addition, OKEx has also put in a lot of thought into further improving the crypto futures trading platform. The Futures and Perpetual Swap Trading Market Data on the platform further empowers the traders by giving them access to crucial market information that can be used to predict and make better trading decisions. There are also plans to develop algo orders feature for futures trading as well as perpetual swap trading, another feature requested by OKEx customers. The launch of algo trading will open the doors for trade automation, enabling the users to place more orders on a timely basis based on market parameters predefined by them.
Enhanced Risk Management
There have been some other developments in the previous year which has enhanced the trading experience on OKEx to a large extent, as the platform successfully attempted to create a balance between users’ interest and market risks. In order to minimize the impact of sudden market fluctuations on traders and their open orders, the platform introduced few risk management features like Mark Price, Tiered Maintenance Margin Ratio (TMMR) System and Forced Partial Liquidation. Since the implementation of these features, there has been a significant improvement in the performance of the OKEx Futures market as the instances of early liquidation and clawbacks were almost reduced to zero.
The new risk management system proved itself after BTC crashed by over 20% from USD 7800 to USD 6100 in a span of 10 minutes following a huge 5000 BTC dump on BitMEX. In this situation, the system was able to stabilize the quarterly contract price at a price of USD 7000 with no clawbacks. The flash crash didn’t have much impact on OKEx’ futures trading price as the new Mark Price feature sets the cryptocurrency’s market price based on the current price on 5 major exchanges viz., Gemini, Coinbase, Bitstamp, Kraken, and OKCoin.

Chart: CoinGecko (Dec 2, 2019)
All these developments and superior service have definitely played a role in keeping OKEx ahead of its competitors, securing top places in the list of Top 5 platforms for crypto derivatives by trade volumes. By continuing the same path, the platform is expected to continue dominance in the near foreseeable future.
 
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Emirex Doubles Down with IEO Announcement, Building a Comprehensive Crypto Ecosystem in the Middle East

The cryptocurrency space has seemingly revived in 2019. After a massive blood-letting through the course of 2018, the space has begun to regain a new life. The price of Bitcoin, for example, increased over 400% through the first half of the year. While this trend has reversed in part, the overall movement of the industry continues to be positive.
This strong showing has reduced fears that Bitcoin is simply another tulip-style bubble that will eventually pop. As consumers and institutional players reenter the cryptocurrency marketplace seeking investments, the industry has produced a number of platforms that offer features for ease of use.
However, the difficulty for consumers is the diffuse nature of these platforms. For example, an investor seeking to buy Bitcoin, hold those funds securely, and use a professional digital trading information platform would need to have three unique accounts. The tediousness of switching between accounts, waiting for payments to settle, and variations in login and information can be daunting.
What’s more, the overall market for entrepreneurs seeking to tokenize assets and create investment pools is complex. Few, if any, tokenization platforms offer internal support for participants, let alone advisory work for those wishing to pursue tokenization.
Comprehensive Solutions for Investors
The answer from the cryptocurrency community to these problems has been a cry for a more comprehensive solution. This is where Dubai-based cryptocurrency platform Emirex steps in.

The company has created a veritable one-stop-shop for all cryptocurrency needs. Their stated goal is to become the infrastructure for the new digital economy, and with the platforms already in place, it appears this is happening.
The company has already built some of the most robust platforms for cryptocurrency investors in the world. Started with a dedicated wallet service and a secure trading platform, Emirex moved toward more professional trading capabilities. They now offer complete professional trading tools with full technical analysis capabilities.
The company also offers speed and security to its clients. The slow transfer of funds from fiat accounts to crypto trading accounts is mitigated by the direct fiat and credit card gateway. Further, the company provides secure cold storage for digital asset custody—something many cryptocurrency investors are frantically seeking.
For Issuers and Entrepreneurs
Emirex has also increased its focus on the business sector. With a successful investor platform in place, the company has moved into the tokenization world, offering solutions for those seeking to tokenize and distribute assets, debt, or commodities.
Tokenization can be extremely costly, as third party intermediaries take dramatic cuts in fees for connecting owners of assets with would-be investors. Emirex, on the other hand, offers a direct peer-to-peer connection between tokenization offerings and end-user investors.
This direct channel of access allows tokenization to proceed rapidly and smoothly and removes the barriers for entry that many entrepreneurs face. And, because Emirex also maintains its own digital exchange, tokens can be listed directly on the exchange, reducing the painful process of pitching tokens to various exchanges.
Further, the company has also moved into the investment space directly by providing its own underwriting fund. Emirex is seeking to invest in the most strategic long-term growth potential tokens and digital assets, thus expanding the market space and providing support for small but brilliant new business models.
Surfing the tidal wave
For forward-thinking investors, Emirex has created one of the most comprehensive digital platforms available. With a primary focus on the Middle East, the company has a massive source of funds and users at its disposal.
Now, Emirex is doubling down on the platform by offering investors the opportunity to participate in its initial exchange offering (IEO). Unlike ICOs, which were often simply scams, the IEO connects investors directly with the exchange by offering tokens that work as the internal payment method for products and services.
Through the EMRX token, users will have access to the plethora of services provided by the company, as well as receiving discounts compared with traditional payments. For example, a token offering could choose to use the EMRX token to pay for listing fees on the exchange and receive a discount on the overall cost.
Additionally, the company has created a rewards program for EMRX holders. There are a number of different programs, such as rewards for active investors, successful new users invitations, and others, all available to active community members.
While a number of exchanges and platforms have tried, the Emirex team has created one of the most comprehensive cryptocurrency ecosystems in the world. As the company continues to grow, early investors will find themselves surfing the tidal wave of industry expansion, rather than drowning in the foam.
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KuCoin Adds Support for AUD and GBP with Banxa

Today, November 26, 2019, KuCoin, an IDG-backed crypto exchange, and fiat on-ramp service, Banxa, announced a strategic partnership to launch instant fiat to crypto conversions for all KuCoin users.
The new partnership allows KuCoin’s customers to buy Bitcoin (BTC) and Ethereum (ETH) with Australia Dollar (AUD) and British Pound (GBP) directly, using bank transfers, debit/credit card and a 1,200 strong newsagent network. Banxa is currently adding more global payment options to its platform with the goal to make the service available to users around the globe in the future.
“KuCoin has been an outstanding partner for Banxa and we are very excited to launch this service together. Today, every serious crypto industry player should have a fiat to crypto gateway integrated into their platform. Banxa allows exchanges, wallets and other industry players such as news websites etc. to own their users end-to-end and rely on a unique payment network which deals with global compliance and regulation.” says Holger Arians, CEO at Banxa.
“At KuCoin, bringing blockchain technology and cryptocurrency to the masses is our ultimate goal. To this end, offering more fiat to crypto gateways will provide a robust boost,” said Michael Gan, CEO at KuCoin. “We are delighted to join hands with Banxa to provide our users in Australia and the UK a much easier way into the crypto world. We plan to extend this service to more tokens, fiats, and countries soon.”
With zero chargebacks and an easy to integrate API, cryptocurrency exchanges and wallet providers can offer their customers an easy and secure way to buy cryptocurrency. Banxa takes care of all regulations, payment network integrations, operational overheads, and fraud management.
Easy fiat to crypto transactions is essential to introduce more people to the crypto world. Earlier this year,  KuCoin launched its peer to peer OTC platform, allowing users to buy BTC, USDT, and PAX with CNY.
Banxa specializes in a full-service, internationally compliant fiat-to-crypto gateway solution for exchanges, wallets and other businesses operating in the cryptocurrency ecosystem.
The KuCoin Exchange opened for cryptocurrency trading in September 2017 and has enjoyed steady growth into 2019. The KuCoin Exchange puts a high priority on the quality of the projects listed based on a well-trained research department that scours the blockchain industry for the highest quality projects. KuCoin provides an exchange service for users to conduct digital asset transactions securely and efficiently. Over time, KuCoin aims to provide long-lasting, increased value to its more than five million registered users, in over 100 countries. In November 2018, ‘The People’s Exchange’ officially partnered with IDG Capital and Matrix Partners.
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Stake as You Trade: OKEx Pool Announces Tezos (XTZ) Baking Service with High Annualized Yield of 5.13%

Following the listing of Tezos (XTZ) token on OKEx earlier this month, the world’s leading digital asset exchange and trading platform has now announced the launch of Tezos Baking (staking) Service on OKEx Pool (Get to Know OKEx Pool). By availing the staking service for the 21st leading cryptocurrency in the market, users can achieve annualized yields of up to 5.13% which is higher than any other similar service currently available in the cryptocurrency market.
The yields generated by OKEx Pool’s XTZ baking service will be settled in OKB. The settlement is carried out in a distributed fashion, directly to the users’ mining accounts on a daily basis. OKEx Pool has flexible staking periods listed for Tezos Baking Service with 30, 60 and 90 days, each offering 3.2%, 3.84% and 5.13% estimated annualized yield respectively. The lowest yield is carried by the flexible staking option at 2.56%.
Connecting the dots between the listing of Tezos and the launch of staking pool, Andy Cheung Head of Operations at OKEx said, “We have always been committed to driving the growth of the blockchain community and ecosystem. Per newly launched Tezos on our trading platform, we are excited to launch it to OKEx Pool as well.” He further stated, “OKEx Pool has been of our proud innovation that enables the integration of mining and trading services by directly transferring mining rewards to OKEx mining accounts and supporting different settlement modes. We will continue to adopt quality projects on the OKEx platform and keep on providing users with safe, stable and transparent digital assets mining services.”
The Staking process generally involves holding on to funds in a cryptocurrency wallet with the intention of supporting the operations of a particular blockchain network. By doing so, the participant will be eligible to receive a reward. The XTZ baking service is a similar program, where OKEx Pool users can support Tezos by staking XTZ and earn from it. According to the platform, in order to participate in the program, users will have to stake a minimum of 50 XTZ in their mining account. The yield calculation will start from the next day. The proportional settlement and distribution will start happening from day 2 onwards.
In addition to Tezos, users on OKEx Pool can also take part in mining and staking various other cryptocurrencies. Some of the popular cryptocurrencies supported by the pool includes BTC, BCH, LTC, ETH, ETC, DASH, DCR and ZEC. It also supports a variety of PoS networks.
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Crypto Assets Are Legal Equivalent of Property: Report

U.K.: Crypto-assets are legally equivalent to property, clearing the way for businesses to use digital currencies backed by blockchain technology, a high-powered group of legal experts chaired by a senior member of the judiciary reported today.
The panel urged commercial lawyers to prepare for the disruptive impact of digital coins and associated technologies on the law, the legal system, and legal profession before others “steal a march” on them.
UK Jurisdiction Taskforce
The statement, reported by The Times and published by the UK Jurisdiction Taskforce of the LawTech Delivery Panel, concluded that:
Crypto-assets, including but not limited to, digital currencies, can be treated in principle as property; and that smart contracts are capable of satisfying the requirements of contracts in English law and are thus enforceable by the courts.
Led by senior High Court Judge Sir Geoffrey Vos, the goal of the panel was to take significant steps to address uncertainty around digital currencies and related blockchain technology, to build a “dependable foundation for mainstream utilization of crypto-assets and smart contracts.”
The report states that crypto-assets “have all of the indicia [signs] of property.” It explains that in the view of the senior legal figures, the “novel or distinctive features possessed by some crypto-assets — intangibility, cryptographic authentication, use of a distributed transaction ledger, decentralization, rule by consensus — do not disqualify them from being property.”
Further, the panel said that smart contracts and crypto-asset systems have the potential to revolutionize they way agreements such as mortgages, medical research, and property ownership, are carried out:

“[These systems] could revolutionise agreements, from mortgages and medical research to property ownership, as smart contracts automatically execute transactions and remove the need for a middleman.”

Crypto is the Future
Sir Geoffrey, who as chancellor of the High Court is head of its chancery division (which deals with most commercial law disputes), said that “in legal terms, crypto-assets and smart contracts undoubtedly represent the future.” He added that he hoped the legal statement would:

“Go a long way towards providing much-needed market confidence, legal certainty and predictability in areas that are of great importance to the technological and legal communities and to the global financial services industry.”

This support for crypto, blockchain, and related industry is something Sir Geoffrey has been discussing for some time. In a lecture at the University of Liverpool in May, he argued his stance for crypto-assets as property as well as the necessity for proper regulation:

“It is a matter of how they are regulated. As I have already said, a clear distinction needs to be drawn between the concept of crypto-assets as property, on the one hand, and how they are to be regulated, on the other hand.”

Featured Image from Shutterstock
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Velas Masternodes Staking Program is Now Live

Swiss-based Velas, a smart contract platform enabled by Artificial Intuition, has confirmed the official launch of its master nodes staking program. Operating on an AI delegated proof-of-stake consensus (AIDPoS), anyone with the minimum Velas (VLX) coin stake can now participate as a masternode. The launch is part of the project’s alpha release, with a beta launch slated for early next year.
Under a dPoS consensus model, tokens can be used in two ways, either for electing nodes or for staking as part of the block production process. The launch of the Velas masternode staking program enables network participants to use VLX tokens for the second purpose.
The Velas model is that the platform’s artificial intuition algorithm will ultimately be the determinant of block reward allocation. However, the company is still developing this feature in preparation for the beta launch. Therefore, it has set the interim masternode block rewards at 8%, which is higher than EOS is currently paying out.
To operate a full masternode, participants will need a minimum stake of one million VLX tokens, which is worth around $30,000 at the current price of VLX. They’ll also need the necessary GPU power, and a Velas wallet. The wallets are available in web and desktop versions, with the latter downloadable for the Windows, MacOS, and Linux operating systems.
If you can’t fork out for the necessary minimum stake of VLX tokens but still want a shot at participating in the block rewards, then you can participate in a VLX pool. By creating an account with CoinPayments, VLX holders can stake their coins in a masternode pool, where block rewards will be distributed among participants.
When the Velas platform is live, it will use AI as a critical component of the dPoS consensus process. A learning algorithm will select network participants by reputation, along with determining block rewards.
AI and Blockchain – a Popular Convergence
The marriage of AI and blockchain is proving to be a popular one. This week, it emerged that the AI and fintech branch of China’s largest insurance company has filed for an IPO in the US. OneConnect, an arm of insurer Ping An, listed a $100m share offering, a small portion of its total valuation of $7.5 billion, according to the FT.
OneConnect will use the funds raised to expand its international operations. Part of this will be developing the Hong Kong Monetary Authority’s interbank blockchain trade finance platform, servicing 13 banks. While the firm deals in multiple technologies, including blockchain and big data, it predominantly sees itself as an AI company.
AI and blockchain convergence projects such as SingularityNET and FetchAI have also been gaining steady traction recently. In October, Grey Swan and FetchAI announced they were integrating their platforms to offer smart market-making and smart margin lending, marrying conventional derivatives and the decentralized economy.
Elsewhere, SingularityNET confirmed a collaboration with TODA to host its decentralized AI market place on the platform. The initiative is designed to make SingularityNET interoperable between different blockchains, although its focus will remain on Ethereum.
 
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Creativity and Value Will Win the Cryptocurrency Exchange Wars

The American gold rush was marked by a host of hard times and a few sudden millionaires. Men gave up everything to travel to California in hopes of striking it rich. But the man who really struck it rich during the gold rush was Levi Strauss, a simple tailor who made tough cotton pants for the miners.
In the 21st century, the digital gold rush has begun with the creation of cryptocurrencies, and particularly Bitcoin. Early adopters owned thousands of Bitcoin, and these few devotees are now massively wealthy.
As the market has grown, however, the major winners in the space have been companies and individuals who offer services to the Bitcoin faithful. Among these service providers, cryptocurrency exchanges are some of the most lucrative.
However, where profit can be made, competition is sure to follow. As the digital gold rush continues, some question exists as to who will win the war to dominate the cryptocurrency exchange market. A number of exchanges have sought to take a bite out of the market. The key, to date, has been a focus on creativity and value.
Creative conquerors
Creative offerings and marketing strategies have already appeared to work in bringing attention to exchanges. Consider, for example, the creative approach Binance took to bring attention to their exchange platform.
The company offered YouTube influencers a $100K prize for those who could create the best and most helpful video about how to trade on the platform. The result was a massive number of new traders, and a substantial number of videos, all of which focused on bringing new traders to Binance.
The traction from this simple but creative marketing plan produced a huge amount of news time, and subsequently, new users. Binance trading numbers increased dramatically with the increased traffic—a sure signal that creativity in the market will produce results.
Other smaller companies are offering creative solutions as well. For example, Nominex, a newcomer to the exchange world, is creating a referral program that will drive business in a similar way.
The Nominex Affiliate Program allows users to share a referral link with friends or spread the word about Nominex through media and community. Each referral receives a bonus, and there’s no limit to the number of referral levels users receive bonuses from. This is unlike any other exchange where those numbers are generally limited to 2 to 3.
Value proposition
Beyond creativity, as the number of exchanges on the market explodes, cryptocurrency traders are increasingly looking for genuine value. Beyond simply fast trades and low fees, traders are seeking a value proposition that moves beyond the simple offerings of early exchanges.
Again using Nominex as an example of a relative newcomer, the company has offered a series of token distributions for early adopters. First, for a month after the opening of the exchange, all users will receive 100% cashback on all trading fees, paid in NMX, the Nominex native token.

Second, after this first phase, the company will continue returning a portion of trading fees as a pool paid to users each day. These bonuses will be paid on a percentage basis of total transaction volume. For example, if a user had 1% of all transactions on a given day, he would receive 1% of the pool.
Other larger exchanges are seeking to create similar value propositions as well. Again, turning to Binance, the company has begun offering up to 8% interest on its BNB native token for those who use the platform’s credit card.
What’s more, the company has also offered to pump certain tokens and companies for free. The main incentive for Binance is to bring a larger user pool onto the site, and the smaller companies (like the recent addition of Perlin) benefit from having the juggernaut crypto exchange on their side.
Junk or jeans?
The future of the cryptocurrency exchange market is still up in the air. But the reality that the market will continue to grow and change can’t be denied. Nevertheless, the power for growth in the market must come from creative marketing concepts and genuine value propositions for users.
Just as in legacy financing options, companies must begin finding ways to differentiate themselves. Whether through referral programs, incentivized marketing, or bonuses on their respective networks, the future winners of the digital gold rush will be like Levi Strauss—selling the best products and the best prices.
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Mining is Back in the Game with Online Simulator RollerCoin

Hardly any facet of real life has not yet been reflected by simulator games. Widely ranged, from extra-popular The Sims to realty tycoons and trading simulators, they aim to help users train their skills and fresh thinking rather than merely entertain them. The same applies to the cryptosphere, with mining simulators spreading across the Internet. The reason why more and more users are getting hooked on seemingly uneventful mining gameplay is getting real rewards in cryptocurrency, without spending a dime on rigs or utilising CPU power.
The blockchain-empowered mining simulator RollerCoin is taking a huge step further by empowering players to build their own virtual enterprises. The real market model, tough competition, realistic levers for building a business empire, as well as customized characters – from geeky engineer to hard-boiled capitalist – are what 1,000 website’s daily newcomers are getting excited with. The thought-out in-game economy, which elaborately reflects the real market system, sets RC apart from mining simulators that largely turn out to be BTC-faucets.
At first glance, the difference between mining simulators and Bitcoin-faucets may seem vague. The latter ones dispense tiny rewards every few minutes in exchange for watching ads and luring new users to get traffic from them. You are supposed to sign in as often as you can, watch videos and complete surveys. Although such websites are often titled with the words “mining” and “game” and position themselves as mining simulators, this only halfway corresponds to what they are really all about. De facto, they barely satisfy those seeking for more sophisticated game process – and this is what RollerCoin aims to offer, along with the close-to-real-world in-game economy.
While bitcoin mining is full of quite tedious tasks such as buying bulky equipment and paying electricity bills, RC gets users rid of all these hassles. The player signs up without any registration fee and starts earning initial capital simply by playing games, by now at a low level of difficulty. Started small, the difficulty gradually levels up and this leads to getting more satoshis and hash power. The Proof-of-Fun algorithm verifies the results of each game before winnings are distributed among players.
Once having enough money, the user is able to either withdraw them or spend on a mining rig to earn more, without even playing games. From this moment, the player gets a taste and begins to actively reinvest earnings in rigs to gain passive income. The higher your hashrate, the more satoshis you get when a new block on the blockchain is mined. The mining power is not dependent on the hardware you play on, be it powerful PC or budget mobile device.
The passion for victory is required for keeping things going. Upon winning a certain amount of games the user gets a virtual computer which enhances the mining power for a few days. Special events and contests where users are granted various upgrades are constantly adding fuel to the fire.
Starting with nothing but the bare-bones – an office equipped with a table, chair and fan – the player constantly expands his enterprise by acquiring new miners and rigs.
A new location (office, warehouse or even airport) will definitely be needed soon to be rented and properly equipped.
All acquired real estate, hardware, as well as branded clothes that match your character’s individuality, can be sold on the internal websites’ marketplace. That is what the internal token, now being distributed among active community, is needed for. It enables to exchange upgrades and bonuses, open hidden levels and loot-boxes with rare items, pay entrance fees for championships and events and carry out any operation within the game. Apart from transacting on a trusted website, players are getting free of problems associated with the use of multiple cryptocurrencies. Besides, the holders will be eligible to vote on RollerCoin’s governance issues.
According to the RC website, within the next nine months, the service will be updated with 10 new games and chats for more smooth users communication. What is more, the project’s roadmap features the launch of a mobile application set for spring 2020. It is thought to be independent of app stores infamous for cracking down on blockchain-enabled products, meaning users will be able to savour the crypto-anarchy spirit, RollerCoin says.
To get a better grasp of what the game is all about and to find out more about the crowdfunding campaign, head to rollercoin.com.
 
 
 
 
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Manny Pacquiao Token to Launch in IEO on GCOX Exchange

Filipino boxing champion Manny Pacquiao made international news headlines recently when he announced he was issuing his own cryptocurrency, the PAC token. Now, the PAC token is following the 2019 crypto crowdfunding trend by engaging in an initial exchange offering (IEO), courtesy of Singaporean exchange GCOX. The sale will open on November 12.
Pacquiao initially declared his intentions to release a digital token at a free concert for fans in Manila during early September. In between serenading his fans with love songs, the boxer informed them that they could soon buy his merchandise and interact with him on social media using the PAC token.
At this point in 2019, conducting an IEO is a well-proven method of drumming up support and interest in a project. Although Binance first kicked off the trend back in 2017 with IEOs for Bread and Gifto, it was in the first quarter of this year that the idea really took hold. The high-profile launch of Bittorrent ignited a new era of crowdfunding, with a reported $3.4 billion now raised through IEOs to date.
An Exchange for Celebrity Tokens
Although many exchanges now offer the opportunity for projects to launch their tokens via an IEO, GCOX provides a slightly different twist on the average launchpad. The exchange is the first to offer an IEO platform specifically for celebrities wanting to launch their own digital currencies. Although Pacquiao is one of the first to blaze a trail in this regard, it seems that there are others likely to follow, with tennis star Caroline Wozniacki and singer Jason Derulo reportedly set to follow in his footsteps.

GCOX is providing a full suite of services for these “celebrity tokens” which includes the creation and listing of tokens on the exchange itself. It will also allow fans to trade their tokens for products such as branded merchandise, or services including exclusive live streaming of events, or shout-outs on social media. There will also be a service whereby fans can donate to charitable causes endorsed by their favorite celebrities, with funds allocated on the blockchain for added transparency and security.
Old Concept, New Twist
Although it seems like a novel idea, a celebrity-backed cryptocurrency isn’t necessarily so much a new idea as the next iteration in the long and successful marriage of celebrities and merchandise. All the way back in 1850, the “Greatest Showman” P.T. Barnum was promoting a Swedish opera singer named Jenny Lind with branded clothing, including gloves and bonnets.
This evolved into the ubiquity of band tour t-shirts, and then into celebrity-brand partnership, such as Nike and Michael Jordan. Eventually, the advent of social media introduced a digital element to the idea of celebrity branding and endorsements, ushering in the age of the influencer. Now, with the rising popularity of cryptocurrencies and all the possibilities that blockchain brings, celebrity-branded tokens seem to be the inevitable next step of this evolution.
Of course, Pacquiao isn’t the first celebrity to jump on the crypto train – or even the first boxer for that matter. The SEC fined Floyd Mayweather last year for having promoted scam ICO Centratech in exchange for $100,000.
However, other celebrities have made more successful forays into the space. Rapper Akon has launched his own cryptocurrency and blockchain-based ecosystem called Akoin. Hollywood actor Ashton Kutcher operates his own investment company for blockchain startups, and Lionel Messi has served as brand ambassador for Sirin Labs, the Israeli blockchain phone producer.
That said, Manny Pacquiao is one of the first to market with his own branded cryptocurrency token. GCOX clearly believes in the long-term potential of celebrity tokens. If Pacquiao and GCOX make a success of the endeavor, then other celebrities may start to follow the lead. Based on the long and successful history of celebrity branding, it’s entirely possible that celebrity tokens end up being one of the next big trends in crypto.
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Ethereum Express Announces New Proof-of-Authority Consensus Model to Digitize Trust

Since the dawn of mankind, the issue of trust has been a determining factor in the relations between individuals, groups and even states. The evolution of trust is continuing with the development of ever more elaborate instruments that would ensure the fulfillment of obligations by parties to an agreement.
The digital age has ushered in new systems for ensuring the integrity of trust. The development of blockchain sheds new light on the possibilities that digital systems can introduce in trust. Businesses are always looking for new methods of improving their operations and for guaranteeing the fulfillment of obligations by counterparties, thus making blockchain a promising innovation.
Building transparent systems using blockchain for managing business processes in such sectors of the modern economy as iGaming and mining is a relevant direction and an important factor in shaping the financial sector of the future.
In With Use
Blockchain technologies have earned the attention of the leading global names in banking, IT and other industries as IBM, Google, Facebook, Microsoft, the big names of Wall Street and others are investing millions in the development of their own decentralized solutions. Businesses are often taken as the benchmark for determining the usefulness of a new technology. However, it is the user factor that ultimately decides whether a new tech will live up to expectations.
Blockchain technologies are a paradoxical case, as they were initially adopted and introduced by average online users, rather than by businesses. According to Statista, in the second quarter of 2019, the number of unique users who have at least one registered blockchain wallet exceeded 40 million people. This is five times more compared to 2016. The upward trend proves that interest in blockchain among ordinary users is steadily growing despite the downtrend of prices witnessed in 2018-2019.
Nurturing Trust
In the changing cryptocurrency market, Ethereum Express developers found a way of using the Proof-of-Authority consensus algorithm to allow users to become validators and maintain their reputation by ensuring the successful throughput of blocks.
Being a specialized platform for the multi-thousand-strong community of blockchain enthusiasts, it offers users the chance of becoming part of the new generation cryptocurrency ecosystem with ease and full transparency of all operations. For this purpose the EEX project develops the tools that will allow average users to generate income without the need for maintaining expensive mining equipment and increase transparency in the world of online gambling.
The platform is based on the Ethereum blockchain, which has been hailed as a technological revolution in trust management and business operations security. Given that the bandwidth of the Ethereum blockchain cannot exceed 15 transactions per second, thus rendering it inefficient for large-scale business operations, the EEX developers came up with the idea of building its own blockchain. The project operates on the basis of the Ethereum Express Coin, which is used for facilitating connections between the worlds of gaming and mining and is designed to create a backup global cryptocurrency for different business operations.
The difficulties of money transfers between individuals and the need for bank procedures, along with the high commissions for transfers, have all shaped the needs of modern society for simplifying mutual settlements and reducing the time and effort that will be required for monetary processes to be fulfilled. As with all cryptocurrencies that exist today, the decision on the development of the ecosystem is made by the developers. In such a scenario, the opinions of the investors are not taken into account. By enabling the community to make decisions through authoritative voting and capital appreciation, the EEX ecosystem intends to reach a whole new level of social significance and influence for society.
Solve That
Ethereum Express offers a number of significant advantages for businesses through the system it is developing.
The speed and number of transactions offered by the project are 10 times higher than that of the Ethereum network. EEX operates on the principle of giving its users the ability to vote with their capital and authority. Ultimately, the gamification of the entire transaction process for users makes it convenient and attractive.
The users are not left behind in the advantages offered by EEX. A convenient P2P money transfer principle called “shaking money transfer” makes using EEX safe, fast and easy. Users are given the ability to vote with their authority rating and this allows the community to have an impact on social processes in a company, country or even the world. The gamification of processes, even serious ones, such as monetary transfers, makes involvement in such an interactive economy attractive and involves entirely new strata of users.
In Blocks We Trust
Trust, being the main value, along with the use of blockchain technologies, is what undoubtedly finds application in the field of iGaming and gambling.
Games, especially gambling ones, are entirely built on trust in the random and unbiased nature of the gaming process. In such an environment, blockchain technologies are the ideal instrument with their transparency, reliability, and speeds. The Chinese were one of the first to prove that blockchain can be used as immutable evidence providing technology. If the judicial system can find applications for blockchain in ensuring trust, then the gaming industry is up next.
Blockchain is already serving as the hub for all online gambling with 70% of the $5.5 billion transacted on EOS being attributed to gambling dApps, and 95% for the Tron blockchain.
Tech And Trust
In practice, trust is not the only problem in the blockchain realm, when transaction speeds and commissions are taken into account. EEX is a viable solution that offers an increase in the throughput of the blockchain network in comparison with the Ethereum blockchain along with the possibility of voting and elements of gamification, thereby combining the most relevant and best technological solutions into a single package.
 
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