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Bitcoin Vault Enters A Partnership With ESE To Support A Gaming & Esports Talent Show

By
Adam Barry
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0

Bitcoin Vault (BCTV) has closed a business deal with a Europe-based entertainment and technology company known as ESE Entertainment (ESE). Electric Vault happens to be the big name behind Bitcoin Vault’s management and operations. Analysts continue to applaud the move to strike a partnership with a leading company dealing in gaming and esports.

Supporting talent

The two come together in a joint move focused on talent promotion. The companies want to co-produce and co-distribute a gaming talent show and have their eyes in five different countries. The countries include Japan, South Korea, Vietnam, China, and Brazil.

BTCV and ESE embark on a deal that will enable them to engage in production activities geared towards bringing together cryptocurrency and gaming in a single ecosystem. The business collaboration also seeks to expand the BTCV coin’s presence and its service to worldwide esports and gaming markets. BTCV continues to stand out as the only available Proof of Work (PoW) cryptocurrency with the capacity to deliver a reversible transactions feature. It is about ramping up users’ security by adding any new layer to the immutable blockchain.

Popiel speaks out on the recent developments

The Chief Communications Officer at BTCV, Radek Popiel, acknowledges the significant growth that the Esport industry continues to witness. Popiel also recognizes the close link between the Esport industry and cryptocurrencies and likes the continued cooperation. 

The official says that they want to make a major contribution to global cryptocurrency adoption and consider the latest collaboration to be a progressive one. Popiel believes that ESE is one of the best and most experienced partners available, terming it an honor to work with the company. 

The new shared project happens to be an impressive gesture to the worldwide gaming community, and that is considering that many young non-professional players will get an opportunity to showcase their skills. BTCV appears determined to make a significant change that will favor the crypto and gaming communities.

The organization of the talent show is such that it will be featuring some amateur esports athletes that have been dreaming of growing and becoming professionals. ESE will focus on production management. It will also be in charge of any infrastructural changes that need to be implemented. 

HIVE Blockchain Technologies Cast Blame On Government After Selling Its Norwegian Data Mining Center

By
Adam Barry
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0

HIVE Blockchain Technologies will focus better on upgrading its current facilities after selling one of its data centers. The Crypto mining firm admits that it felt great pressure having to put up with new legislation that made it almost impossible to meet most of its developmental conditions.

Crypto segment’s challenges

In 2018, the Norwegian Parliament approved a bill that most crypto miners seemed quite opposed to, and that is considering the government’s resolution to distance itself from catering for crypto miners’ power consumption needs. Most of them expected that the government would be more reasonable to offer them relief on power consumption. 

Hive moved Kolos Norway’s shares to Narvik and paid an extra $200,000 on top of this subsidiary’s shares. 

The “oppressive” legislation swung into effect back in 2018 and has since impacted a great section of the crypto miners. HIVE discloses more details about the bill’s impact, focusing specifically on the move to lower the land development rights valuation from $15 million to zero.

Holmes expresses his reservations

HIVE executive chair Frank Holmes doesn’t seem happy with most recent developments, terming the sale to be a rather “unfortunate” undertaking for the firm. However, Holmes applauded the move by the community to continue looking out for ways to utilize the property.

Holmes disclosed that the firm’s CFO was around at the time they were closing the recent deal. The official said that it was good that the deal was struck when the CFO had already taken up his executive duties. 

The leader says that the deal says that the deal’s close is a good thing because it lessens the burden on the firm’s management team’s shoulders. The team will have an easier time dealing with the more immediate needs that must be addressed promptly. For instance, the team will focus on the upgrading of the firm’s facilities. The other thing will be to expand the firm’s existing operations in Canada, Iceland, and Sweden.

HIVE has achieved a lot so far, part of that being acquiring a new facility in Quebec that costs it $2.8 million. 

Aleph.Im To Participate In Ubisoft’s Entrepreneurs Lab

By
Adam Barry
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0

Aleph.Im is set to be one of the participants in the sixth season of Ubisoft’s Entrepreneurs Lab. This blockchain-based storage and computing startup stare at brighter times ahead, considering that it will have a lot to learn from the Ubisoft domain experts. For example, it might witness massive success in its quest to advance its ecosystem. It will be counting on direct support from the French video game developers.

Entrepreneurs and startups continue to benefit

Ubisoft is a big name considering that it has been running its Entrepreneurs Lab for about six years. Many entrepreneurs and startups have, over the past, reaped wide-ranging benefits from the video game developer. For example, they have been utilizing the company’s resources and expertise to carry out various functions. These entities have managed to commercialize their products and scale up operations by relying on Ubisoft’s resources. 

Aleph.Im wants to take advantage of this year’s theme called “blockchain and positive entertainment,” but it isn’t the only one. It embarks on the quest with some other 11 startups spread across Australia, Europe, and Canada. The selection process focused on the top-performing startups. 

Leaders’ perspectives

The chief studio operating officer at Ubisoft Virginie Haas, has shown her satisfaction with the latest developments. She appeals to all the talented startups selected to take part in the 6th season of the Ubisoft Entrepreneurs Lab to show total cooperation and learn the most important lessons. 

The CEO of Aleph.Im Jonathan Schemoul, is the other leader that has been quick to comment on the recent developments. Schemoul outlines that they will continue channeling their efforts and resources in the quest to transform the decentralized cloud services and make them a reality. The leader considers Ubisoft to be a successful business that supports many businesses to achieve their set business goals. 

The official is excited about the opportunity to work with Ubisoft, exuding confidence that they will succeed in creating the next generation of cloud services. He hopes that they will succeed in developing services that will be trustless, unstoppable, and open-source. 

Major investments continue to be channeled into blockchain startups. Leading private equity firms have been making significant investments amounting to hundreds of millions of dollars into various projects.

Crypto-Friendly Bill Finds Its Way In Texas’ Senate For The Final Vote

By
Adam Barry
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0

Wyoming has been at the frontline in cryptocurrency adoption, and it seems Texas might walk the same path considering its current crypto efforts. Ripple happens to be one of the big names entering Wyoming.

Texas expected to play a lead role

Impressive changes continue cutting across, one of those being Kraken’s new operations as a crypto-currency-friendly bank. Kraken benefited from Wyoming’s State Banking Board’s move to grant it the rights to undertake its business operations as a crypto bank. The bank also empowered Avanti, enabling the firm to receive and keep cryptocurrencies. 

The Commercial law in Texas might soon recognize cryptocurrencies as legit digital business assets. The vigilance of the Members of the Texas House of Representatives has contributed a huge deal to the crypto bill’s passage. During the 87th session of the Texas legislature, the officials voted a move that has enabled the state’s Uniform Commercial Code amendments to push through the stage. The leaders want to adopt UCC in favor of better digital assets regulation and blockchain innovation.

Representative Tan Parker was the one that pulled the trigger in March, and the rest of the lawmakers joined in the quest. Analysts continue speaking out about House Bill 4474 and its role in helping re-define cryptocurrencies in the UCC. 

Abbort to support proposal

The bill must go through more stages, starting from Texas Senate to the final vote. The Texas Senate makes the last call on whether or not to accept proposed amendments. The passage of the bill in the senate will leave the remaining part to Texas Governor Greg Abbort. The governor will probably sign the bill so that it swings into full effect.

Abbott inspires hope among crypto enthusiasts, and that is considering somehow he has been speaking about the matter. The leader comes out as a decisive “crypto supporter,” outlining that he will do everything possible to support the proposal. The official has also called upon Bitcoin mining firms to establish a shop to focus on cryptos. 

Abbot likes the cryptocurrency trends, outlining the increased transactions and investments. Texas led in gold depository, and Abbot hopes that the state will also lead in crypto adoption. 

Nebraska Legislators Stage Strong Support For Banks’ Adoption Of Cryptocurrency

By
Adam Barry
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0

Wyoming’s senator-elect Cynthia Lummis crypto perspective happens to be the perfect reflection of the state’s close inclination to embracing digital assets. 

The US might succeed in crypto trading

The state of Wyoming remains one of the friendliest states in cryptocurrency adoption and usage. The United States might be following suit, with analysts opining that the country I set to become the next “Wyoming.”

Nebraskan lawmakers have been at the frontline in supporting a motion to push for the adoption and use of cryptocurrency. These senators want all the state banks to embark on offering cryptocurrency services. The efforts of these lawmakers continue to spark impact, and that is considering how the bill has pushed its way through the first of the three required votes. The legislature always oversees bills of such nature and others. The bill has made its way through the enrollment stage, and it is expected to pass the review phase on Sunday.

Flood’s push for cryptocurrency adoption

A republican member named Mike Flood shares details about how he first learned about cryptocurrency from a close friend. The official describes his friend as a person with a close inclination to crypto and its adoption. The two have had several discussions about crypto, and Flood would soon develop a fondness for cryptocurrency. Flood discloses how the friend had turned to Wyoming for his crypto undertakings. He dismisses the bill’s current form, outlining that it has rather slim chances of making it through the elaborate process. 

Flood believes that the United States has all that it takes to make it in cryptocurrency, calling for early adoption. He has been speaking severally about how the state of Nebraska could end up benefiting immensely from cryptocurrency adoption. Flood looks into a future where many people will get employment opportunities in finance and technology. Flood asks believes that his district and the United States at large need to grasp the opportunity and utilize it for good.

However, a section of senators remains quite opposed to the initiative. One opposing for happens to be Senator Steve Erdman, who has complained severally about the bill’s timing. Erdman seems rather skeptical about the bill, outlining severally that it won’t pass. 

Newscrypto Collaborates With CipherBlad To Improve Compliance Standards In The Crypto Sector

By
Adam Barry
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0

Newscrypto is partnering with leading crypto players to bring more people into the industry and make crypto acceptable. The crypto trading solutions providers have joined forces with CipherBlade to enhance knowledge regarding compliance standards. 

Newscrypto and CipherBlade partner on forensic crypto investigations 

CipherBlade is a company that specializes in tracking cryptocurrencies and blockchain forensics in investigations. NewsCrypto indicated that it would leverage CipherBlade’s expertise and knowledge to improve its goal of developing a global analytical ecosystem. As a result, this will be vital in creating a straightforward and seamless financial environment for cryptocurrency investors. Most importantly, NewsCrypto’s ambition to become the “Bloomberg” of digital currencies has led the company to create a cryptocurrency-oriented platform. 

Following the partnership, CipherBlade will assist NewsCrypto Academy’s focus on crypto security. The CipherBlade platform has compliance, risk management, and investigation tools used in uncovering high-profile cybercrimes. The company claims to have recovered millions of stolen cryptos since 2018. 

Fraudsters looking to defraud and profit from other people’s earnings have countlessly targeted cryptos such as Bitcoin. The criminals use the tech in cleaning stolen finds or darknet markets incomes. 

Because of increasing fraud, CipherBlade and several cryptocurrency forensic investigators have stepped in to assist government agencies in identifying the criminals and put an end to illegal activity. Besides government agencies, forensic investigators such as CipherBlade are also helping private businesses and financial institutions. Equally, they track cryptocurrency belonging to suspected fraudsters and try to reinstate the ill-gotten gains to victims.

Newscrypto creating an education program about cryptocurrencies 

In a statement, NewsCrypto indicated that with appropriate content to beginners and crypto veterans, they would be in a position to explain all that one needs to know about cybercrime. Similarly, the company said they would explain how to protect your crypto and the steps to take if you find yourself under attack by these bad actors. 

The collaboration with CipherBlade is part of Newscrpto’s efforts to create an education program for those willing to learn about crypto. The Newscrypto academy has videos and written lessons on leverage trading, Defi, Uniswap, and others.

Turkey Introduces Rules Requiring Crypto Exchanges To Report Transactions Exceeding $1,200

By
Adam Barry
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0

The Turkish government has announced that it will require crypto exchanges operating in the country to notify Then Financial Crimes Investigation Board about any transaction exceeding $1,200. 

Exchanges to notify authorities of transactions exceeding $1,200

The country’s Treasury and Finance Minister Lutfi Elvan announced the decision on CNN Turk, stating that exchanges will have ten days to notify the financial crime agency about customers making transactions exceeding the $1,200 limit. The move is part of the government’s measures to curb the potential use of cryptocurrencies in facilitating criminal activity. However, Elvan indicated that the government doesn’t feel that crypto traders are engaging in malicious activities. 

He added that they are modeling their anti-money laundering rules based on the international AML regulations setter, Financial Action Task Force (FATF).  Most importantly, the minister said that people should educate themselves regarding what cryptocurrencies are because he has heard from some of the citizens investing in crypto, not knowing what it is. Interestingly, the minister didn’t give a timeline when the new rules will start working. 

New rules come in the wake of crypto fraud. 

The new rules come at the back of a major crypto exchange being involved in a $150 million fraud. The Turkish Central bank defines crypto as nonmonetary assets that shouldn’t be used as a payment form. Under the new guideline, MASAK will have the authority to oversee and auditing cryptocurrency exchanges. MASAK has so far prepared regulations for exchanges, including penalties for exchanges that will fail to report transactions exceeding the benchmark. 

Elvan added that MASAK has the authority to auditing crypto exchanges, and the trading platforms should share their active users’ information with MASAK. Equally, the crypto exchanges will be liable for any malicious activities that will happen on their platforms. 

Last month, reports emerged that Turkey would create a central bank custodian for crypto exchanges following exit scams by two local exchanges. Following the Thodex cryptocurrency exchange fraud, police detained 62 people. Local experts indicate that there should be clear regulations and taxation to avoid the victimization of crypto users.

The Dapp List Completes $1.9 Million Funding Round To Help In Tackling Fraudulent Projects

By
Adam Barry
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0

The Dapp List, which focuses on rooting out scam projects, has finalized a $1.9 million funding round. The Web3 curating multi-chain ecosystem will use the funds to develop The Dapp List platform, a project created as a result of growing on-chain fraudulent projects. 

Top industry players take part in The Dapp List funding round. 

Leading investors in the crypto space led the funding with notable investment and venture funds joining the round, including the YBB foundation, CMS Holdings, Bitscale capital, LD Capital, SL2 Capital, Double Peak, BR Capital, and GenBlock. Similarly, other individual investors, including AU21 Capital co-founder Kenzi wang, Polygon co-founder Sandeep Nailwal, Yield Guild Games’ Gabby Dizon, Matt locker, Nima Asghari of Near Protocol, and Calvin Chu, extended their support. 

The Dapp List platform the funds will help develop seeks to curate Web3 adoption experience. Most importantly, this project results from the growing number of scum, “rug pulls,” and dubious projects that have sprung since the start of DeFi summer. Notably, with several newcomers entering the crypto space, it is easier for bad actors to defraud them.

The Dapp List platform to govern removal and listing of projects 

Also, on the Explore module, the community will govern the project listing or removing process. The community has been divided into Voters and Hunters and will track and remove possible scams. The Dapp List will be a Web3 adoption hub and will bridge high-quality developers with communities. Also, through the BUIDL module, it will be easier for developers to create a network and community for their ideas to create high-quality products. Lastly, the Invest module will bridge the gap between developers, capital, and users. As a result, Developers will find funding via The Dapp List’s community and investment partners. 

Most importantly, The Dapp List will transform Web3 adoption by allowing the community to promote skilled and serious developers while suppressing fraudsters. As a result, this will incentivize high-quality builders to get into the industry since there will be fair competition for market attention. 

You Technically Don’t Own Your Crypto Held in PayPal Holdings Inc. (NASDAQ: PYPL)

By
Adam Barry
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0

PayPal Holdings Inc. (NASDAQ: PYPL) made its entry into the cryptocurrency sector, permitting US users to buy crypto such as Ethereum and Bitcoin. However, even though it is easy to buy BTC, you will not own the coins you buy. 

PayPal doesn’t allow cross wallet BTC transfer 

Also, the PayPal-owned mobile wallet, Venmo, allows users to buy and sell different kinds of crypto. Users can start with investing from $1, and there is no special account needed to deal in cryptocurrencies. But, technically, the coins you buy will not be yours.

BlockTower Capital general partner Mike Bucella said that it is PayPal that will manage wallets, meaning that users will not necessarily hold their BTC. Normally, when you buy BTC, you receive public and private keys to claim ownership of the coins you buy. The wallet address is the public key, and the private key offers you control of the wallet. Therefore, with PayPal, you will have access to the public wallet but control the private key. 

Interestingly in the “Crypto on PayPal FAQ” section, the company indicates that you cannot transfer the crypto you are holding in your account to another account on or off the app. This is an odd limitation considering your crypto holdings should be an asset. This custodian arrangement is a form of IOU for your crypto holdings.

PayPal will hold the private key to your wallet

Ripple general manager Asheesh Birla said that it is similar to depositing money with Bank of America. The customer trusts that the Bank of America has their money in their accounts, and they give them an IOU. Therefore this implies that users cannot move their crypto holdings to cold storage and cannot transfer the tokens to other wallets besides those on the PayPal ecosystem. 

Although the model can limit the user in what they can do with their coins, it makes sense for PayPal from a Business perspective. It is also safer with PayPal to keep the private key, especially for novices, because of you lose your private key, you could lose your BTC. 

Bank Of England Warns Investors On Dangers Of Participating In The Crypto Market

By
Adam Barry
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0

The governor of the Bank of England, Andrew Bailey, has sent out a warning to investors, asking them to consider the dangers cryptocurrency investment poses. The official gave out his statement to investors on Friday during a conference, and he seemed to promote a prevailing anti-crypto rhetoric. 

Crypto performance

It is rhetoric downplaying the notion of cryptocurrency having intrinsic value. The BoE governor wants investors to make their investment decisions after coming to terms with the reality that cryptocurrency lacks intrinsic value. He believes that persons who go on to invest in the sector are ready to lose their money. The official has sounded the same warning to investors severally. 

The United Kingdom’s Financial Conduct Authority was the first to send out a warning against cryptocurrency investments. Bailey’s statement came after the authority’s assertion, and it reinforces anti-crypto rhetoric more. The FCA spoke out in January, wanting the British Public to make well-informed decisions that couldn’t put its money at risk. Bitcoin had been performing rather poorly at the time, and that was at about $33,000.

Matters started to change gradually, with the crypto market capitalization ballooning almost three-fold. It currently stands at about $2.3 trillion, a rather significant growth trajectory.

The Crypto prices continue moving higher, and it is a rather challenging time for investors who have been listening to Bailey. The Altcoins are at the top, with Ether (ETH) taking the top slot. It has hit its all-time high, but it isn’t the only one experiencing the vertical price actions.

Crypto regulation

The BoE governor sticks to his statement about cryptocurrencies lacking intrinsic value but remains pretty accommodating of the thought that they bear a possible extrinsic value.

The tax authority has also expressed some reservations regarding the valuable digital currencies, outlining they present loopholes for some people to evade taxation.

Her Majesty’s Revenue and Customs spoke out in April, outlining that it would stage a fierce fight against cryptocurrency tax evaders. It wants to employ similar approaches to the United States Internal Revenue Service’s ones in its fight against crypto tax evasion. The body’s “crypto question” Continues to linger in the minds of most investors.

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