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Vourity & HIPS Join Hands To Roll Out Crypto Payments In Europe

By
Adam Barry
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0

Two payments corporations have joined hands to roll out crypto payments across 50,000 charging stations of electric vehicles in Europe. The partnership is between Irish e-commerce and mobile payment solutions firm HIPS Payment Group Ltd. The two firms are HIPS Payment Group Ltd, Irish e-commerce & mobile payment Solutions Company, and Vourity, a Swedish-based company specializing in unattended payment facilities that include EV charging stations. 

The Process

The integration of charging stations with crypto payments will kickstart from November 2021 and run for three years. EV charging stations of Vourity will be integrated with crypto payments by joining the blockchain through Merchant Token of Hips Merchant Protocol. 

HIPS Payment Group in May launched the HIPS Merchant Protocol Gateway, the HIPS Merchant Protocol, & its governing Merchant Token. Built on Ethereum & Solana, the protocol is planning to extend support to Cardano in the future. In May, HIPS stated that the Hips Merchant Blockchain created for merchant transactions utilizes the interchange concept from the payment card industry. 

Adopting Energy Efficient Protocols

EV-focused firms are becoming energy conscious and are supporting cryptocurrencies that adopt energy-efficient crypto mining. For instance, Tesla stopped support for Bitcoin for its EV vehicles. Elon Musk stated that they would not change their stand against cryptocurrency until the mining sector is not eco-friendly. Earlier this month, Daymak, a Canadian light EV manufacturer, announced an EV set that will be released in 2023. It will come with a crypto mining rig that will mine Bitcoin & other cryptocurrencies. 

Hans Nottehed, CEO of Vourity, said they are evaluating what crypto coins they will support. Although the companies have not yet revealed the cryptocurrencies that they will support, Verity may support Ethereum. Verity released the payment terminal’s image that carries an ETH logo. With Ethereum striving to become more energy-efficient, its use will offer eco-friendly services to the EV drivers. 

Beeple Launches We.New To Auction Iconic Moments

By
Adam Barry
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0

Mike Winkelmann, a pioneering digital artist & the highest-paid NFT artist known as Beeple, launches we.New. The platform will auction iconic moments in sports, art, politics, & fashion as non-fungible tokens (NFTs).

Stiffened by industry giants that include TIME, Warner Music Group, Wasserman, Universal Music Group, and Endeavor, the platform will host direct sales and auctions NFTs powered by Ethereum. Beeple said that the platform would engage people with the moments & memories that matter to them. NFTs represent a novel paradigm in how people can rejoice in remarkable achievements. We.new will utilize Polygon (MATIC) for layer-2 scaling.

Engaging the People

From July 2 to 5th, the platform will host its inaugural auction. It will offer tokenized images of tennis star Andy Murray celebrating the Wimbledon Grand Slam victory of 2013. Besides getting two tickets to the men’s Wimbledon finals to be played in 2022, the winner will also have the pleasure of playing with Murray. NFTs that will be sold on the platform will offer prospects to secure real-world artifacts and peculiar experiences like physical sculptures and opportunities to meet and greet artists & athletes.

The History

Beeple auctioned Crossroad NFT in February for $6.6 million. He also auctioned a looped museum-quality video. The Crossroads NFT that has been resold for $6.6 million is 100 times its actual price and broke the previous for NFT of $1.5 million. Inspired by the United States presidential elections 0f 2020, Crossroads highlights one of two animations, depending on the election’s outcome. 

 After these successful auctions, Beeple’s Everyday: the First 5000 Days raised a whopping record-breaking $69 million through Christie’s, which is a prominent auction house. Everyday was the premier digital art piece to be exhibited at Christie’s. Only Jeff Koons & David Hockney have created such precious works.

The Market

The NFT market has witnessed tremendous growth in the last 12 months. Although it is spread across corpus domains that include traditional art, and music industries, the sports industry is the most significant adopter of NFTs, thanks to the surging reputation of NBA Top Shot.

Athena To Supply 1500 Bitcoin ATMS To El Salvador

By
Adam Barry
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0

Athena, a United States company, aims to supply El Salvador’s new crypto-based economy with 1500 Bitcoin ATMs, a representative of Athena confirmed. The process will start from supplying a few machines to forming the business model. Athena, a Chicago headquartered company, is also planning to install more cryptocurrency ATMs by investing $1 million. The firm is looking to establish its presence in places where residents get allowances from abroad.

Besides installing the new cryptocurrency ATMs, the company will also open an office in El Salvador and hire more people to carry out works. Currently, the company operates with just two cryptocurrency ATMs in El Salvador. The machines are installed at El Zonte beach and in El Tunco. The one that is at El Zonte beach is part of its “Bitcoin Beach” experiment.

The Challenge

Matias Goldenhörn, director for Latin America of Athena, said that the Nayib Bukele, Salvadorian President, has given us the daunting challenge of establishing 1500 ATMs, and we would strive to achieve it. He said they are a private firm, and we will strive to build trust in the country. The business model is going to be different from that in the United States. According to Coin ATM Radar, there are about 16,835 machines installed worldwide; compared to last year’s 7,152, around 10,000 more machines are installed this year. The United States continues to lead the list with 13,699 machines installed in the country.

Athena, on June 17, announced that it is planning to expand its wings in the country as the country’s lawmakers are looking to pass the bill to make Bitcoin legal tender. In a Twitter post, Athena tagged President Bukele. In the post, the President was asked if thousands of ATMs would be enough.

The World Bank declined to support the country’s plan of adopting Bitcoin because of Bitcoin’s environmental and transparency shortcomings. Moreover, opposition parties are also looking to file a lawsuit to scrap the new Bitcoin law.

Concordium Becomes First Non-Japanese Blockchain Platform To Join Japan Blockchain Association

By
admin
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0

Concordium AG, a decentralized & sustainable public blockchain, announces that it has joined the Japan Blockchain Association (JPA) as a full member. Thanks to that, it has become the first abroad blockchain platform to enter the association. The association comprises over 120 international & domestic companies and organizations.

Lone Fønss Schrøder, Chief Executive Officer of Concordium, said they would promote blockchain technology in Japan by joining the association. He also said that through this association, they would blend blockchain technology with the real world and enhance the growth of cryptocurrency in the country. Concordium becomes the first non-Japanese blockchain platform to join JBA.

The Association

Established in 2014, JPA is Japan’s first general incorporated association that promotes blockchain technology. The association that started with a small group of founding members has witnessed tremendous growth. Today, JPA’s members include technology giants like Microsoft (NASDAQ: MSFT), Deloitte, and crypto-native enterprises, including Kraken & bitFlyer. By becoming a member of JBA, Concordium will look to leverage the expertise of other members to develop and promote the use of blockchain technology in Japan.

Benefits

The membership will also facilitate Concordium in expanding its wings in the blockchain community of Japan. In the previous week, Concordium launched the mainnet after successfully conducting four testnet runs. Thanks to this development, Concordium is ready to build applications.

Through Zero-Knowledge-Proofs & built-in user identification used to oust anonymity with securing private data, Concordium fixes the inadequacies of traditional blockchains. Besides supporting encrypted payments, the technology empowers authorities to recognize users and authorize the user to authenticate the counterparties’ identity.

 Acting as a bridge between the private sector and the public, JBA prepares guidelines and drafts governmental proposals to remove bottlenecks faced by the organizations. Besides examining the reasons & issues faced by the organizations in developing innovative products, the association fosters interaction among its members.

Mark Cuban Latest Statement About Bitcoin Being Better Than Gold Comes Out As Promotional

By
Adam Barry
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0

Billionaire Mark Cuban leaves a lot to be pondered by investors after spoke in favor of Bitcoin, outlining that it was, in essence, better than gold. The cryptocurrency’s instability isn’t something new, with significant declines and rises, witness

Cuban is clearly in favor of bitcoin

Cuban made his statement in a tweet, admitting that Bitcoin had been at a disadvantage because it never enjoyed the “William Devane type commercials.” Those happen to be the type of commercials that target the selling of cryptocurrency as a hedge against inflation.

Cuban opines, “Bitcoin is better than gold. No worries about storing it. Easy to transfer. Easy to trade. Easy to convert. Doesn’t require an intermediary. Can be fractionalized.”

Devane has been a household in many homes worldwide. He happens to be a famous star in a soap opera called Knots Landing and the serial drama 24.

His latest statement shocks many people that have witnessed him peddle gold for Rosland Capital. He has, in several instances, heaped praises at gold, outlining that it is the only metal currency that he has undying faith in among all the others.

Analysts consider Cuban’s comments as rather timely, pointing to the latest home and commodity process surge. It is a moment that sparks worries among most market participants, and that is considering the possibility of inflation that looms. 

The concerns continue rising, but analysts are still trying to get to terms with the bitcoin prices’ tailspin in recent times. 

Latest trends

It was on Tuesday that reports came out indicating a decline in cryptocurrency prices. It was a drop by a margin of about 8.47%, with the final figure standing at $28,993 a coin. Many challenges continue to hit the cryptocurrency sector, with some reports indicating China’s determination to hinder mining through crackdowns.

Danske Bank Sounds A Warning Against Cryptocurrency Trading, But Won’t Intervene

By
Adam Barry
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0

The largest bank in Denmark, Danske has indicated its official take regarding cryptocurrencies. It seeks somewhat dissatisfied, but it doesn’t seem like it will be making any tangible move. It expressed its stand regarding cryptocurrencies back in June through a four-point notice publication. It called upon investors to be more cautious with digital assets’ trading endeavors.

The company surprises most people with its stance

Most business analysts believed that Danske Bank would move beyond simply sending out its word of caution to the investors, but that didn’t happen. It sparks great confusion among the investors who expected the bank to follow its assertion with some practical stances against cryptocurrency.

Analysts observe the bank’s moves as rather simplistic. The bank had declared that it would stop serving its cryptocurrency customers itself. Still, it sparks many questions as to why it insists on not interfering with the various transactions emanating from crypto platforms.

The itinerary moving forward

The bank speaks out regarding how all its customers must deal with most of its credit card transactions. It calls upon all of them to be keen on conformity with the various applicable anti-money laundering procedures. It also speaks out about the existing applicable laws and the great need for every custo0mer to respect the law.

The bank states, “For customers that deposit funds that stem from investments in cryptocurrencies, we will treat them in the same way as deposits of funds from other types of investments. Furthermore, we do not block the use of a credit card issued by Danske Bank in connection with the trading of cryptocurrencies.”

Danske acknowledges the truth that cryptocurrencies stand out as part of the most outstanding innovations within the financial services segment. It also spoke about the great need for different people to exercise caution while dealing with cryptocurrency transactions and investments. 

Crypto Miners In Ya’an City To Halt Operations Temporarily

By
Adam Barry
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0

A city in Sichuan wants crypto miners to halt their operations temporarily to give room for investigations. It is challenging for the crypto miners in Ya’an city, but they must adhere to the directive. 

The government has been exercising control

The move by the city in Sichuan province isn’t something new, and that is considering that the Chinese authorities have nee cracking down on cryptocurrency mining operations for quite a while. The latest move brings to a stop the operations in all the local Bitcoin mining farms.

Ya’an city is situated in the western section of Sichuan province. The authorities in the area issued the order to halt the bitcoin mining operations to get to the bottom of some particular concerns. 

Bitcoin miners continue battling uncertainties regarding the time they swing back into operations once again. 

Colin Wu’s take

Chinese blogger Colin Wu has spoken about the latest move, outlining that it might significantly affect some leading Bitcoin mining farms. Sichuan happens to be the major hydropower producer in China.

Wu discloses details about how Sichuan communicated through the issuance of a document that ordered the power generation companies to halt the supply of power to all the virtual currency operators in the local area.

Wu speaks about how the document outlined 26 large mining projects that needed to undergo the examination exercise. It was necessary to shut down their operations to have ample time to examine the farms in question. The official discloses that the measure will significantly impact most of the leading mining farms in the area. 

Wu opines, “There are many small and medium-sized hydropower stations in Yunnan, Sichuan, and it may be difficult for them to receive government supervision. However, large-scale projects will be shut down in the short term.”

Runtime Verification Reaches Its $5.3M Target To Support Better Blockchain Security

By
Adam Barry
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0

Runtime Verification is quite pleased about having achieved a lot in a funding round. The Security and Audit firm raised about $5.3 million, which it intends to support blockchain security. Several significant companies showed up, making the IOSG Ventures-led investment round a great success with the accumulated $5.3 million. 

Some of the round’s significant contributions came from top firms, including Maven 11, Fenbushi Capital, cFund, Elrond Research, Hypersphere, and Tezos foundation. 

The need to ramp up security measures

Security matters a great deal within the crypto industry, and the fundraiser will play its role. The employment of analytical software is crucial for ramping up system security within the crypto segment. 

Runtime Verification will purposely use the investments to enhance its developmental tools, and such an effort will be critical in making significant improvements in the security status. The company will also be focusing on making some crucial changes to boost essential aspects such as the correctness, reliability, and safety of its computing systems for blockchain use. The other move will be to make significant expansions to the company’s global impact. 

Rosu’s take on the matter

The company’s founder Grigore Rosu seems quite pleased with the latest changes, terming the funding round a significant milestone for them. He reveals that the company has always relied on funds from contracts and grants. The company makes this critical point to dismiss the prevailing misconception that it relies heavily on capital raises.

Rosu believes the recent investment round to be an excellent move for a company that keeps striving towards accelerating its impact and growth within the blockchain segment. 

The company continues to speak out about most of the progressive plans that it has underway, including the growth of its team. The move to grow its team will be crucial to unveiling its latest security products and tools. 

Russian Millionaire Oleg Deripaska Begs Bank of Russia to Change to Bitcoin

By
Adam Barry
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0

One of the wealthiest Russians – Oleg Deripaska – exercised his Telegram account to disparage the Bank of Russia on its crypto posture. He guessed that the republic should add the main cryptocurrency as a reimbursement process, giving an instance with the Latin country of El Salvador, which previously laid the basics:

”Even deprived El Salvador, recognized for being nearby to oft-mentioned Honduras, has understood the necessity for digital moneys and taken a simple trail, identifying Bitcoin as a means of imbursement.”

Additionally, the oligarch delineated Russia’s necessity to affect commercial contracts efficiently with the rest of the domain and pressed the central bank to accept a ”factual financial tool enabling freedom in external trade payments.”

Oleg Deripaska, the originator of the chief benevolent base in Russia – Voloe Delo, was once the plushest gentleman in the country but lost the first spot after the monetary disaster in 2008. The entrepreneur is also the initiator of Basic Element. As of June 2021, Forbes guesstimates his prosperity at $4.8 billion.

But notwithstanding his assistance doings and business attainments, Deripaska caught the consideration of the United States Department of the Treasury. In April 2018, the US establishments faulted him for intimidating the lives of professional competitors, taking part in coercion and racketeering, and unlawfully bugging a government administrator.

As CryptoPotato stated, the bureaucrats in the largest republic by landmass have unambiguous to identify cryptocurrencies as possessions. This regulation would mean that crypto depositors surpassing 600,000 rubles ($8,184) per year must state them in front of the establishments. Another opinion of the notice would be a 13% tax on advantages made from such savings. If applied, the rule will necessitate depositors who fail to reveal the required info to be thumped with a 10% penalty of the implicit quantity.

Besides, the bill designated would deliver a stark 40% consequence to people who try to evade the specified tax or make imperfect disbursements.

Even though the guidelines may sound severe, the enterprise would grant Russian crypto proprietors the right to lawful defense.

Chinese Bitcoin Miners To Enjoy Miami’s Clean Nuclear Power Offer

By
Adam Barry
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0

The Mayor of Miami, Francis Suarez, seems determined to transform Miami by transforming it into a bitcoin mining hub. He promises his support towards the initiative, outlining that he is going to offer clean nuclear energy. 

North America’s mining operations expansions

One rather outstanding fact in the current state of affairs regarding Bitcoin happens to be the significant mining operations expansions that continue to be witnessed in North America. 

 Suarez seems rather optimistic about the future and foresees Miami rising to become a leading hub for crypto mining activity. The leader calls upon all the foreign mining companies to make game-changing moves in the city, one of them being establishing data centers. 

The Mayor considers Miami to be rather gifted when it comes to the ample nuclear electricity supply that it owns. He believes that such nuclear electricity supply is what it takes to attract many Bitcoin miners seeking to adopt clean energy sources in their undertakings.

The Mayo’s take 

The Mayor is aware of the supposed crypto mining’s carbon footprint and wants to be one of the positive contributors to stopping the menace. However, in a recent incidence, the Mayor criticized those persons making claims about 90% of Bitcoin mining having originated from “dirty energy.” Nevertheless, he expresses optimism in the future of cryptocurrency mining, outlining that his city will lead the way in advocating for better conditions. 

Suarez advocates for a shift in the mining concentration, calling out for a shift to the United States. The official believes that a shift could be crucial in helping ease the feared environmental concerns.

The leader has also spoken about efforts geared towards attracting overseas Bitcoin miners. In addition, he reveals that a section of the city officials has been making attempts to cut down energy costs in close collaboration with the power companies.

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