5 Years Ago

Kik who Raised $100million in an ICO Set to Challenge SEC

BBFTA News Editor | | PERMALINK

One of the most successful ICOs last year, that within six months of doing an ICO was valued at over $1billion, is to fight the US Securities Exchange Commission (SEC) as to whether it’s token Kin is not a security.

The SEC believes that Kik has broken US security laws by issuing security. The firm argues that the tokens issued aren’t security tokens but a utility token as it has hundreds of thousands of people have been using Kin as a currency to buy goods and services. The firm plans to formally challenge the SEC’s position. This video is the companies vision for Kin (watch here). To see Kik’s CEO version of why he thinks the SEC has got is wrong read here.

This challenge is important as it will help to clarify and help determine what influence the SEC has and what is and what is not a security token.

#FrontierInsights
ICO
Information Security
https://bitnewstoday.com/news/kik-interactive-k...-to-court/

Iran Unveils a Cryptocurrency Backed by Gold

BBFTA News Editor | | PERMALINK

The number of Governments using Cryptocurrencies seems to be gathering pace, with the announcement that Iran has been in discussions with Austria, Bosnia, France, Germany, Russia, South Africa, and Switzerland.

Iran is looking to launch a state-backed Cryptocurrency called Peyman, Persian for covenant. Four Iranian banks are involved, Bank Mellat, Bank Melli Iran, Bank Pasargad, and Parsian Bank. The over-the-counter exchange Iran Fara Bourse will offer the ability to trade the new currency. Initially, the Peyman will only be available for institutions, as Iran looks to accelerate the speed of banking transactions and facilitate payments globally as a way around US-led sanctions. Having been removed from SWIFT last year Iran has struggled to efficiently deal in global financial markets.

#FrontierInsights
Banking
Cryptocurrency
https://www.ccn.com/iran-launches-gold-backed-c...-sanctions

Deutsche Borse Making Progress with a Blockchain Platform for Securities Lending

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A platform for collateral swaps in the securities lending market backed by Deutsche Borse.

 The platform will not use traditional settlement and digital tokens will be transferred between accounts to represent change of ownership. The platform is designed to allow more efficient collateral management of high-quality liquid assets (HQLAs), which are in greater demand because of increased clearing and margin requirements under Basel III regulations.

#FrontierInsights
Digital Currency
Securities
https://bitcoinexchangeguide.com/deutsche-borse...-platform/

Lightning Blockchain Gathers Steam and Proves to be Ultra Fast

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Cryptocurrency detractors claimed it would be impossible to handle the volume of Visa or MasterCard. 

Lightning Network is disproving them, it is a matter of when not if Digital Assets will significantly challenge fiat currencies! With transactions costing pennies or less and to be able to use your phone, Lightning completely changes the way money is moved. If banks aren’t paying attention yet, they will be when they look at Lightning payments and realise they are likely to be disrupted!

#FrontierInsights
Cryptocurrency
Finance
Digital Assets
https://ethereumworldnews.com/lightning-network...of-600btc/

Saudi and UAE to Launch a New Joint Cryptocurrency

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As Saudi and the UAE explore ways to develop closer economic ties they have agreed to launch a new Cryptocurrency initially to be used just between their banks.

This announcement is seen as a step away from the reliance on petrodollars and is another sign of the Middle East embracing blockchain technology. Is this all part of the gradual decline in the dominance of US$ as outlined in https://medium.com/coinmonks/is-time-up-for-the-us-as-the-worlds-reserve-currency-c05b581dec79?

#FrontierInsights
Cryptocurrency
Finance
https://www.thenational.ae/uae/uae-and-saudi-ar...y-1.815401

Falcon Bank Offer Cryptocurrency Transfers That Could Impact on Exchanges

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Swiss private bank Falcon have are now offering the custody of certain Digital Assets and for clients to swap their holdings with each other.

The ability to for clients, who hold Digital Assets to trade directly with each other without the need to use an exchange is a potential threat for Digital exchanges but is another example of how Blockchain technology is able to disintermediate. Falcon can now allow private and institutions to transfer cryptocurrencies with each other as well as convert into fiat as well as offer.

#FrontierInsights
Banking
Digital Assets
https://www.globenewswire.com/news-release/2019...ncies.html

New Singapore Crypto Exchange Called Hg to be Launched

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Another Crypto exchange is to be launched to enable trading of tokenized traditional publicly quoted shares, private unquoted companies, and tokenized assets.

The Hg exchange has said that it will be using Blockchain technology and aims to be a member exchange for South East Asia meaning that anyone that wants to trade or list on the exchange will need to deal through one of HG’s licensed financial intermediary. One wonders how many more exchanges will be launched and how long will it be before we start seeing consolidation and exchanges being acquired to gain critical scale?

#FrontierInsights
Blockchain
Cryptocurrency
https://www.thecryptoupdates.com/zilliqa-and-ma...-exchange/

Marbella to Launch the Marbellacoin

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Yet another organization to have its own cryptocurrency, expect to see many more global brands to do the same as they want to embrace this new method to digitally engage with people.

We have recently seen Facebook, Saudi Arabia/UAE, and the IMF say that there are 15 countries looking at some form of Digital Currency.

#FrontierInsights
Bitcoin
Finance
https://bitcoinexchangeguide.com/spains-city-of...tocurrency

UK FCA Crypto Consultation

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The FCA has released its long-awaited consultation paper into Crypto assets, exchanges, payment providers, wallets and firms involved in this growing market sector.

The report looks at the risks and potential challenges and opportunities that Crypto assets offer, as well as setting out thoughts for UK regulation and outlining the different activities that should be regulated. This consultation paper is a clear sign that the FCA is trying to offer those firms that are involved in this sector guidance to this new asset class and ought to help the UK keep at the forefront of the development of Digital Assets.

#FrontierInsights
Cryptocurrency
Regulators
https://www.fca.org.uk/publications/consultatio...yptoassets

Blockchain Potentially to be Used for Air Traffic Control as NASA Invests

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The Automatic Dependent Surveillance-Broadcast is due in 2020 but currently does not provide for the protection of flight plans and positions and other state data.

Potentially blockchain has the ability to maintain aircraft privacy and anonymity while providing secure communication with Air Traffic Services. It is being proposed using smart contract support and cryptographic security of blockchain to ensure private communication between aircraft and authorized participants.

#FrontierInsights
Airlines/aviation
Blockchain
https://cointelegraph.com/news/nasa-publishes-p...dium=email

World Wildlife to Use Blockchain to Track the Environmental Impact of Product

BBFTA News Editor | | PERMALINK

“Consumers will have a whole new level of transparency about whether the food we eat is contributing to environmental degradation or social injustice such as slavery”, said WWF- Australia CEO Dermot O’Gorman.

By scanning product QR codes. Once a QR code is scanned, the user is shown information about where a specific product came from, when and how it was produced, and how it traveled along the supply chain. This information is then put on a Blockchain which records the movement of the product and stores additional information, such as the temperature of food in storage.

#FrontierInsights
Blockchain
Food & Beverages
https://www.wwf.org.nz/what_we_do/marine/blockc...a_project/