Crypto Capital arrest could be disaster for Bitfinex Binance Kraken

Crypto Capital arrest could be disaster for Bitfinex, Binance, Kraken
                                  

The dominoes have started to fall for cryptocurrency exchanges choosing to operate in the shadows. Polish news site wPolityce.pl reported Crypto Capital President Ivan Manuel Molina was arrested on October 24 in connection to money laundering charges, causing a huge potential problem for Bitfinex, Binance, Kraken and BitMEX.

Crypto Capital has previously been established as the banking partner for many of the biggest exchanges in the world, having been named as Bitfinex’s banking partner after losing their Wells Fargo accounts, but also being tied to failed exchange QuadrigaCX as well as Binance, Kraken and BitMEX. Although they’ve helped these exchanges with their money, they’ve also been a consistent source of headaches, allegedly being part of why Bitfinex had $850 million go missing.

The charges against Molina now help fill out the story of what those exchanges might have been doing by partnering with Crypto Capital. Another Polish outlet, RMF24, notes Molina is accused of helping them with “money laundering Colombian drug cartels through the cryptocurrency exchange.” The hundreds of millions of dollars entrusted to the banking outfit, some of which Bitfinex probably hoped they would get back, has apparently also been seized by Polish authorities. The message is becoming clear: exchanges and their banking partners that run afoul of the law have everything to lose.

The next question will be, what does this mean for the exchanges? Bitfinex is most notably already under investigation for the $850 million loss, and what they might have done with their sister company Tether to cover it up, allegedly printing hundreds of millions to cover their tracks. They’ve recently tried to force Crypto Capital to reveal the location of their accounts, but with $350 million seized for money laundering, it’s unlikely there’s much left there. Add heightening regulatory scrutiny to the mix, and Bitfinex is sees bad times ahead.

For the other exchanges tied to Crypto Capital, it’s just a matter of time until they have nowhere left to hide. Binance and Kraken are both notable for attempting to evade regulation in the past, but with Columbian drugs now part of the story, they will have a harder time hiding from the truth. What we’re they using Crypto Capital for, and how long until they are defending themselves in a court of law? If Molina starts cooperating with Polish prosecutors, that day could be very soon.

Article Produced By
Larry Baker

Staff Writer

Larry Baker was born and raised in Boston, Massachusetts, and got interested in Bitcoin in 2016, when a college roommate almost burnt down their dorm with an overclocked mining rig. He bet the pumpkin farm on Bitconnect and hasn’t seen a pumpkin he likes since. Larry now writes for CoinGeek, firmly of the belief that the only digital asset of any real value is Bitcoin SV.

Thomas ClaimCo.in

How blockchain can power the electric vehicle industry

How blockchain can power the electric vehicle industry
 
                                  

Blockchain technology has proven that there are no boundaries to its application

as it continues to disrupt diverse industries. The electric vehicle (EV) industry is one that has yet to fully experience the benefits of integrating blockchain technology. However, this is gradually changing, with the electric vehicle industry recognizing the benefits that accrue from integrating blockchain technology.

In a recent study by researchers from the University of Waterloo, the impact of blockchain to the EV industry was highlighted better than ever before. The researchers studied how blockchain can be used to solve the challenges that face the vehicle charging systems. With EVs becoming more common across the globe, EV-charging services providers have sprung up seeking to capitalize on the new opportunity. However, since they can’t set up their own structures everywhere, they partner with property owners and then get to share the profits generated by the venture.

In their study, the researchers identified lack of trust as one of the key impediments to the success of such relationships. The EV owners have no way of knowing if they are being overcharged for the service, while the property owners have no way of knowing if they are being underpaid. Christian Gorenflo, a PhD candidate at Waterloo explained, “Energy services are increasingly being provided by entities that do not have well-established trust relationships with their customers and partners. In this context, blockchains are a promising approach for replacing a central trusted party, for example, making it possible to implement direct peer-to-peer energy trading.”

The researchers further identified the critical steps necessary to incorporate blockchain technology into the EV industry. The first is identifying the level of trust between the involved parties. The trust level should be recognized as a significant impediment if it limits the success of the endeavor. The parties must then design a blockchain system, based on smart contracts that can solve the issue of trust. In cases where the existing systems need to be replaced by blockchain systems, the new system must be designed to closely resemble the existing interfaces. This makes it easier for the users to migrate into the blockchain system gradually.

“Mitigating trust issues in EV charging could result in people who have charging stations, and even those who just have an outdoor outlet, being much more willing to team up with an EV charging service provider resulting in much better coverage of charging stations,” Gorenflo said. The transformation is already happening, with such initiatives as Share&Charge relying on distributed ledger technology to build a resilient and highly efficient network in the EV community. Share&Charge’s Open Charging Network is a decentralized network where every participant gets to run an Open Charging Network Client which creates a decentralized messaging system for authorization, communication and data sharing.

Blockchain technology will also go beyond just the EV charging to disrupt the Internet of Things (IoT), an important facet in the EV industry. Blockchain will enable the vehicles to communicate autonomously with the charging stations and with other EVs as well, ensuring a seamless ride for the owner. Gorenflo remarked, “In the end, we could even have a system where there is machine-to-machine communication rather than people-to-machine. If an autonomous vehicle needs power, it could detect that and drive to the nearest charging station and communicate on a platform with that charging station for the power.”

Article Produced By
Steve Kaaru

https://coingeek.com/how-blockchain-can-power-the-electric-vehicle-industry/

Thomas ClaimCo.in

Litecoin LTC Releases Draft Proposal For MimbleWimble

Litecoin (LTC) Releases Draft Proposal For MimbleWimble
                 

Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology.

Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.Litecoin (LTC) has published on Github its draft proposal for the MimbleWimble privacy implementation titled LIP 2 & LIP 3. These implementations would allow the network to offer privacy features to users that have been requesting them for a long time. 

Litecoin Releases MimbleWimble Proposal

The 6th largest cryptocurrency in the market is expected to implement privacy features to its network. The MimbleWimble implementation was the most important project Litecoin developers have been working on. According to the draft proposal presented by Litecoin, the first method LIP 2 will focus on Extension blocks. This would not only allow MimbleWimble but it will also effectively increase block size without any change in the consensus. 

It is worth mentioning that the community still has to properly discuss what the extension block size should be for this implementation to take place. The main motivation behind the implementation of privacy features to the Litecoin network is related to the fact that Litecoin is not fungible. Moreover, the extension blocks will run alongside the main Litecoin blockchain. At the same time, a witness program will be implemented to differentiate the extension blocks chain from the parent chain. Furthermore, this will also ensure compatibility. 

About these motivations, Litecoin informed:

“Due to the nature of a transparent ledger, transaction history can be publicly traced. This hinders Litecoin’s fungibility in several ways. Personal identifiable information collected from IP addresses, exchanges or merchants can be leaked and then tied to your address.” The LIP 3 will be the one in charge to face the challenges faced by the lack of privacy. Through LIP 3, the MimbleWimble implementation will be helping Litecoin become fungible. Although MimbleWimble will improve privacy on the Litecoin network – considering data will be hidden, it is still possible to track user activity and interactions. Thus, the solution increases privacy on the Litecoin network but it does not make it 100% fungible. 

In addition to it, the team behind Litecoin is already planning what to do with the threat of quantum computing. Developers have prepared a contingency plan in which they would add a switch commitment for Elgamal allowing the network to move towards a more secure solution. The Litecoin community will provide clear feedback about this implementation, the challenges it faces and how to better improve it in the future. Once all the issues are addressed, all the resources will be placed to start working on MimbleWimble for Litecoin. Other cryptocurrency networks offering privacy solutions include Monero (XMR) and Zcash (ZEC). In the future, Tron (TRX) is also planning to add privacy features to its network.

Article Produced By
Carlos Terenzi

Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

https://usethebitcoin.com/litecoin-ltc-releases-draft-proposal-for-mimblewimble/

Thomas ClaimCo.in

Crypto Hedge Fund Founder Believes Bitcoin Below 8000 Represents A Buying Opportunity

Crypto Hedge Fund Founder Believes Bitcoin Below $8,000 Represents A Buying Opportunity
 
                                  

Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology.

Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.The founder of the cryptocurrency-focused hedge fund Lunar, Joel Birch, said that he considers Bitcoin (BTC) is offering a buying opportunity below $8,000.Bitcoin fell below that level in the last few hours and the market has turned bearish since that moment. 

Bitcoin Below $8,000 Is a Buying Opportunity

In a recent interview with Forbes, Birch explained that Bitcoin is at a great buying opportunity right now. During the interview, he said that he doesn’t know whether Bitcoin is going to hit $3,000 or $4,000 in the future, however, he considers there is a buying opportunity under $8,000. 

About it, he said:

“I can’t tell you if Bitcoin is going to hit $3,000 or $4,000 or $6,000, but I can tell you to me it doesn’t matter because I believe that any price below $8,000 is good. The last couple of weeks, as it’s dipped below $8,000 we’ve bought, and we’ve seen $8,100, $8,200, $8,300.”

Birch went on saying that he doesn’t really believe in trying to time tops or bottoms but averaging in and averaging out is the best strategy. Back in June this year, Bitcoin surpassed $13,700 for a short period of time. After it, the most popular cryptocurrency fell to $12,000, $10,000 and now $7,450. In addition to it, Birch explained that it is possible to think about Bitcoin being traded close to $6,000 before starting to move upwards. 

Next year, Bitcoin is going to experience a halving event that would reduce the new issuance of Bitcoin from 12.5 BTC to 6.25 BTC per block. This is a very bullish event that could help Bitcoin to move upwards in 2020. As UseTheBitcoin reported a few days ago, the recognized crypto analyst Plan B said it is possible for Bitcoin to reach $100,000 by the end of 2021. Birch agreed with Plan B saying that Bitcoin will eventually exceed $20,000 in the future. However, he didn’t provide a specific date for this to happen. 

The former Chair of the U.S. Commodity Futures Trading Commission (CFTC) said that regulatory agencies could have taken the decision to allow Bitcoin futures at the end of 2017 to add some selling pressure to Bitcoin. After the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange (CME) launched Bitcoin futures, the price of Bitcoin dropped from $20,000 to $3,170 a year later.  

Article Produced By
Carlos Terenzi

Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

https://usethebitcoin.com/crypto-hedge-fund-founder-believes-bitcoin-below-8000-represents-a-buying-opportunity/

Thomas ClaimCo.in

Does Bitcoin Even Have A Future?

Does Bitcoin Even Have A Future?

                                

Bitcoin is the “father” of all cryptocurrencies that managed to become the very first decentralized currency

in the world with no chances to be cheated. Thanks to the revolutionary “blockchain” technology, it is simply impossible to get Bitcoins in any illegal way. The blockchain provides for the new verification process that is attached to each cryptocurrency transaction. Bitcoin has indeed managed to make much noise in the modern world, but what’s next? Does this cryptocurrency have a future? What will it be? Let’s sort everything out.

World Changing Technology Today And Tomorrow

Despite being in production since late 2008, Bitcoin has become the main topic of discussions only in 2013, when its price soared significantly. As we have already mentioned, Bitcoin lives in the “blockchain” network that has already changed the world of online payments. Bitcoins enabled instant P2P (person-to-person) payments that can be performed without any intermediaries. What is also interesting about Bitcoin is that its production is limited to 21 million coins. As of now, there are around 18 million Bitcoins already in existence, with over 1,800 new Bitcoins being mined every day. So, there are not so many Bitcoins left to run out of stocks. The question is, what will happen to Bitcoin when all the coins will be mined? In order to answer this question, let’s see how the Bitcoin price has been changing over time.

In the first half of 2013, Bitcoin could be bought for $10 only. At the end of the same year, the price of the cryptocurrency reached an unbelievable $1,160 point, which caused quite a stir in the entire world. For the next couple of years, however, Bitcoin was decreasing all the way down to $200. The real turning point in the history of Bitcoin was December 2017, when it was trading at over $20,000. This event has galvanized worldwide attention, with thousands of discussions around the Bitcoin price are being held every single day.

While in the late 2000s, Bitcoin was a little-known “something” that can be used for online payments, now, everybody knows what Bitcoin is, and it can be bought and used in many land-based retail outlets. For example, BitAccess – one of the greatest Bitcoin ATM producers – announced that the Canadians would have an opportunity to buy Bitcoins in more than 6,000 different stores across the country using the Flexepin cards. It provided the new opportunities for using Flexepin for comfortable online gambling with cryptocurrencies, as well as for using Bitcoin as the main payment option.

Predictions On The Price

Bitcoin has produced a lot of millionaires and bankrupts, as this cryptocurrency is highly volatile, which makes it a perfect object of tradings. Even those people who have never been involved in trading are actively monitoring the cryptocurrency market to catch the best Bitcoin price and then sell it for the highest price. Most media portals call Bitcoin a “bubble” that is about to pop. You can find hundreds, if not thousands, of articles saying that Bitcoin is “dead”. However, the truth is, the “bubble” is always being inflated again and again. Every time the mass media is about to burry Bitcoin, it becomes better, increases in price, proving that it’s still alive. So, what do experts think now about the future of Bitcoin?

Predicting the price of such an unstable cryptocurrency like Bitcoin is not an easy task. Bitcoin is supposed to cost anything from $10,000 to $10,000,000. Many experts claim that 2020 will becomes the next turning point for Bitcoin. John McAfee’s, for example, made the most famous Bitcoin price prediction. He is pretty much sure that Bitcoin will reach $1,000,000 by the end of 2020. More than that, he issued a hype-driven public wager, according to which he will eat one part of his body in the case Bitcoin won’t reach that point in 2020. Anyway, even though there are lots of interesting thoughts and theories related to the cryptocurrencies’ “father”, the future of Bitcoin is still unclear. The only thing we can say for sure is that Bitcoin is not “dead”, and it will definitely get to the headlines again.

Article Produced By
Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He is the founder of Blockmanity. He trades cryptocurrencies and holds some but he prefers holding USDT.

https://blockmanity.com/news/feature/does-bitcoin-even-have-a-future/

Thomas ClaimCo.in

BeatzCoin to be officially listed on Probit Exchange on October 21 VibraVidio surpass 2000 registered users in 2 weeks

BeatzCoin (BTZC), the Tron-based cryptocurrency used to transact on the VibraVid audio and video platform,

will be formally listed and begin trading on Probit Exchange on October 21 at 9PM (EST). ProBit hosted the BeatzCoin IEO and will also host the first official listing of BeatzCoin, although more exchange listings for BTZC will be revealed in the coming days and will come into effect next week. Probit is a global cryptocurrency exchange based in South Korea, with an easy and fast on-boarding process for international and US-based users via probit.com. The exchange boasts a quick and easy KYC process, order speed of over 1.5 million orders per second and advanced security while having one of the simplest user interfaces on the market. Probit.com will be listing BeatzCoin on October 21 at 9PM (EST) as the first exchange to officially commence trading of BTZ

VibraVid is a decentralized media sharing platform built on the Tron blockchain that aims to become a decentralized answer to industry video giants like YouTube and music apps like SoundCloud. The platform transforms how consumers interact with digital content through the use of cryptocurrency, as its new economic peer-2-peer model significantly increases the revenue for artists and content creators as well as viewers. VibraVid.io launched its MVP on September 29 and has attracted more than 2,000 users since then.

The platform aims to deliver content directly from creators to users, thereby eliminating the presence of intermediaries in the form of record companies, labels and middlemen. By introducing a new peer-2-peer economy in the music and content sharing industry, VibraVid will greatly benefit both artists and viewers. All transactions, deals, products, services, bounties and giveaways are instantly recorded on the TRON blockchain ledger, removing the need for revenue-grabbing middlemen. VibraVid.io has officially launched its MVP, with music and video content for a global audience. The platform has attracted more than 2,000 new users in the first weeks of operation

VibraVid provides the tools and empowers artists and content creators by offering a direct link between creators and users. By facilitating a new peer-2-peer economy, we eliminate the middlemen that has hurt the music and content sharing industry for decades and instead give the ownership of the art back to its true creator.

As recently highlighted by an article written and published by Forbes about VibraVid and BeatzCoin,

“a platform such as VibraVid could encourage thousands of upcoming artists to pursue their goals knowing they will benefit from their hard work.”

The VibraVid platform is also keeping true to the original vision and values set out by the Tron Foundation by providing a free platform for content creators to earn peer-2-peer, while the platform’s storage solution is built on top of the newly released BitTorrent File System (BTFS). VibraVid’s choice to use BTFS not only enables a decentralized storage solution for uploaders and viewers but also attests to BeatzCoin’s decision to utilize new and progressive technological solutions put forth by BitTorrent Inc and the Tron Foundation. VibraVid’s ultimate goal is to upend the media sharing industry by assisting one artist at a time to earn a living from their work while giving them the ownership and power to price, sell and distribute their creation as they see fit.

Article Produced By
Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He is the founder of Blockmanity. He trades cryptocurrencies and holds some but he prefers holding USDT.

https://blockmanity.com/news/press-release/beatzcoin-to-be-officially-listed-on-probit-exchange-on-october-21-vibravid-io-surpass-2000-registered-users-in-2-weeks/

 

Thomas ClaimCo.in

American Investors Have the Green Light to Buy Bitcoin Exchange-Traded Notes

American Investors Have the Green Light to Buy Bitcoin Exchange-Traded Notes

                                  

As of 15 August, US investors are able to buy Bitcoin exchange-traded notes (ETN) via online or offline intermediaries such as brokers or financial institutions.

Thomas Cohen, the co-founder of Fundstrat Global, shared with his Twitter followers on 15 August that Bitcoin Tracker One (CXBTF) is now available in US Dollars, bearing in mind that CoinShares’ product has long been accepted and regulated in Sweden. The news comes as a solution for investors interested in direct investment in Bitcoin (BTC) to enter the crypto market. “Everyone that’s investing in dollars can now get exposure to these products, whereas before, they were only available in euros or Swedish krona,” Ryan Radloff, CEO of CoinShares Holdings Ltd., told Bloomberg. “Given the current climate on the regulatory front in the US, this is a big win for Bitcoin.”

The product, known as Bitcoin Tracker One, was listed on the Nasdaq Stockholm exchange since 2015. The new service is considered to be a more efficient substitute for the so-called ETF or Exchange-Traded Fund that appears to be avoided by US regulatory bodies for several reasons that are powered by suspicions. We would like to remind you that the Bitcoin ETF proposal issued by billionaires Tyler and Cameron Winklevoss was rejected last month by US authorities while the decision for another similar project created by VanEck Associates Corp. and SolidX Partners Inc. was postponed until September.

Acquisition of Bitcoin Tracker One is done in the same way as for an American depositary receipt. Investors that buy F shares can be assured that transactions made in U.S. dollars are settled, compensated, and kept under the supervision of investors’ home market, reported OTC Markets Group. Compared to the ETF, the exchange-traded notes are debt instruments, which are assisted by their issuers, usually a financial institution, rather than “a pool of assets”, wrote Bloomberg. “I do see this as a competitive product,” claimed Radloff, CoinShares Holdings Ltd. CEO. “Our products historically have not traded at a premium and are liquid.

Article Produced By
Adriana M.

Adriana M. is a web content writer and editor at Brantell, Coindoo, and TheCCPress, who takes care that the articles you read are user-friendly and the subjects are among the most sought-after. She is passionate about discovering new things in the cryptocurrency and blockchain industry.

https://coindoo.com/american-investors-have-the-green-light-to-buy-bitcoin-exchange-traded-notes/

Thomas ClaimCo.in

The Main Industry Event -BlockchainLife 2019 -Was Successfully Held in Moscow

The Main Industry Event -BlockchainLife 2019 -Was Successfully Held in Moscow

On October 16-17, Expocentre hosted the 4th International Blockchain Life 2019

— a forum on Blockchain, Cryptocurrency, and Mining. More than 4800 participants attended one of the most important industry events in the world.Global industry leaders, entrepreneurs, investors, and startups from 70 countries came together to discuss the current trends and determine the industry’s development in the coming years. Hundreds of contracts between companies, investors and funds’ representatives were signed at the forum.

The headliner of the forum was the assistant to the Venezuelan president and director of the Venezuelan cryptocurrency department Joselit Ramirez. For the first time in the world, one of the founders of El Petro presented the first national cryptocurrency to the international community. Ramirez talked about how the cryptocurrency was created (from the bottom up: from the needs of the common people to the influence on macroeconomic processes) and about the wide range of opportunities for its application (purchase of equipment, medicine, real estate, and other goods and services in Venezuela).

Participants networked at the exhibition with an area of more than 3000 sq.m. The exhibitors were more than 100 companies: the world’s leading exchanges, manufacturers and suppliers of mining equipment and services, innovative startups and services. Sergei Khitrov (Listing.help) announced the creation of a new association IDEO (International Digital Economy Organization), the activity of which will be aimed at the development of digital technologies in Russia. In the coming years, the association will focus its efforts on the development of blockchain and cryptocurrencies and will present its proposals for the regulation of the industry.

One of the world’s largest crypto exchanges, Bitforex.com, has announced several listing contracts with promising projects for 2019. Kucoin announced the launch of Bitcoin futures, and Bitmain introduced the improved ASIC miners S17+ and T17+. Networking and agreements continued at the grandiose AfterParty in one of the Moscow clubs. The special guest of the evening was rapper Guf, who performed a live concert. The main organizer of Blockchain Life 2019 is the world-leading listing agency — Listing.help. The forum’s general sponsor is an international crypto-exchange BitForex.com. The 5th-anniversary forum Blockchain Life 2020 is on April 22-23, Moscow.

Article Produced By
Ionela C.

https://coindoo.com/the-main-industry-event-blockchainlife-2019-was-successfully-held-in-moscow/

Thomas ClaimCo.in

FunFair Technologies launches pioneering wallet solution across partner brands

FunFair Technologies launches pioneering wallet solution across partner brands

                                  

CasinoFair and CryptoCasino to benefit from ‘any device, any browser’ wallet and updated user interface

25th September 2019, Dublin – FunFair Technologies, the market-leading decentralised casino provider, has launched a pioneering new crypto wallet and updated user interface which now supports any browser and any device. The new ERC20, non-custodial FunFair Wallet has been developed specifically to provide a seamless user experience for existing and new players gambling with FUN across its CasinoFair and Crypto Casino brands, marking a significant step forward in the name of blockchain mass adoption. Blockchain projects have so far struggled with onboarding friction due to complicated funding mechanisms, security features which differ significantly to mainstream offerings and a lack of usability on mobile devices and certain browsers. The FunFair Wallet addresses these issues with the introduction of more identifiable sign-up processes and security features, while most importantly ensuring the wallet can run on any browser and any device without the need for any third-party plug-ins or apps.

CasinoFair and Crypto Casino players will also engage with a far more immersive, social and Guaranteed Fair casino experience with an updated front-end, offering more intuitive access to their favourite casino games coupled with the most generous and varied promotions in blockchain casino. Jez San, CEO at FunFair Technologies, said: “Since launch, we’ve maintained our position as the most progressive blockchain casino provider and the launch of the bespoke FunFair Wallet and second generation platform interface will confirm this position as we strive for mass adoption.

“Onboarding has been a struggle across the wider decentralised sector but our new wallet, built specifically for use at our partner casinos, will fix this immediately with a seamless, recognisable sign-up process, straightforward security features and simple crypto funding choices.” FunFair’s first live casino brand, CasinoFair, has also relaunched its brand identity in-line with the new wallet and UI. It now features a more vibrant and progressive aesthetic which is expected to appeal to the millennial blockchain audience, while also staying true to its ‘Famous for Fairness’ foundations which underpin every aspect of its gaming experience.

About FunFair Technologies

FunFair is the leading B2B blockchain casino platform provider, changing the gaming industry for the better. Running on the blockchain, FunFair is empowering a new breed of operator with a low-cost platform, game developers with access to a vast new audience, and players with a Guaranteed Fair experience superior to anything else on the market. Its team has over 100 years of combined experience in the gaming and casino space, as well as 20 years of blockchain expertise, providing a platform to deliver the best slots, table and unique instant win games in a transparent, fair manner.

Article Produced By
Globalcoin

Independent ICO Research and Reporting on the Biggest Cryptocurrency Winners From a Top 10 Crypto News Site

https://globalcoinreport.com/funfair-technologies-launches-pioneering-wallet-solution-across-partner-brands/

Thomas ClaimCo.in

Neobank Juno Raises USD 3M from Polychain Sequoia and Dragonfly

Neobank Juno Raises USD 3M from Polychain, Sequoia and Dragonfly

                                 

Juno aims to provide a high-yield account for savings

Juno, a neo banking platform that leverages decentralized digital assets to provide customers a high-yield account for savings, has announced that the completion of a USD $3 million seed round. Investors include prominent firms such as Polychain Capital and Sequoia Capital’s Surge. The platform is set to launch in select markets next year and is taking a radical approach towards creating an open and global financial system for everyone, regardless of location or income.

Banks in developed countries – including the US, Europe, Japan, and Singapore – traditionally offer between 0.01% and 0.10% interest through checking and savings accounts. This interest will be distributed daily and will fluctuate regularly.  Clients will also be able to send and receive money anywhere in the world without intermediaries and at no cost. Additionally, the company plans to introduce a debit card with a partner bank in the future. Juno is built on the Ethereum blockchain and uses Nuo protocol for its core functionality. Its main feature is to enable decentralized lending and borrowing of digital assets to earn a high yield on stablecoins such as USDC. Juno is leveraging these assets to build the next generation of global decentralized financial and banking services (DeFi).

Varun Deshpande, co-founder of Juno 

“Today, we are excited to unveil Juno – a neo banking platform that aims to provide everyone a high yield account for their savings. Our goal with Juno is to help create an open financial system for the world by providing equal opportunity and access, no matter where you are born or how much you earn. We are also delighted to partner with Polychain Capital, Sequoia Capital’s Surge and Dragonfly Capital on this journey as we build a new age banking platform from the ground up.”

Olaf Carlson-Wee, Managing Member, CIO of Polychain Capital

 “We were early supporters of decentralized finance and stablecoin systems, both of which have continued to gain meaningful traction in the market over the past couple of years. We believe Juno is well-positioned to bring decentralized finance to the mainstream with their neo banking platform for digital assets. We are particularly impressed with the team’s focus on simple user experience, unlocking liquidity using smart contracts, and their Asia first strategy.”

Juno was founded in July 2019 by Varun Deshpande, Ratnesh Ray, and Siddharth Verma after creating the Consensys-backed Nuo protocol in 2018. Using Nuo smart contracts, lenders can supply crypto assets and earn daily interest, while borrowers can instantly access credit using their digital assets as collateral. Smart contracts allow for algorithm-driven pricing, disbursals, and collections, ensuring efficiency and transparency. Nuo protocol has grown organically to USD $25 million in deposits and USD $20 million in loans disbursed, making it the most popular DeFi app in Asia. 

The founders’ past ventures also include BeeWise, an alternate credit analytics platform acquired in 2017 by Aditya Birla Money. As a serial entrepreneur, Deshpande was the co-founder and CEO of TopTalent, a high-end recruitment platform as well as AVP marketing at Topper, a Fidelity-backed edtech platform in India. He holds a degree from BITS Pilani. Ratnesh Ray graduated from IIIT Allahabad and was the head of data science at TinyOwl, a Sequoia India backed foodtech app. Prior to that, he was a software developer at Toppr, where he helped create personalized tests and social features. Siddharth Verma was part of the early team at Arista Networks where he worked on their flagship product consisting of high-density switches. He was previously a software developer at Cisco and an alum of BITS Pilani.

The seed round also saw the participation of Dragonfly Capital, Consensys Labs, Astarc Ventures, Singapore Angel Network and notable angel investors Balaji S. Srinivasan (Ex-CTO, Coinbase and General Partner, a16z), Amrish Rau, Jitendra Gupta (CEO & MD, PayU India), and Loi Luu (Founder, Kyber Network), Nitin Sharma from Incrypt, Venu Palaparthi (CCO, Dash Financial), Rajesh Chelapurath (President, Ceera Investments), Brian Ma (Founder, Divvy Homes), Sanjay Mehta from Mehta Ventures, and Prashant Malik (Creator of Apache Cassandra).

Article Produced By
Globalcoin

Independent ICO Research and Reporting on the Biggest Cryptocurrency Winners From a Top 10 Crypto News Site

https://globalcoinreport.com/neobank-juno-raises-usd-3m-from-polychain-sequoia-and-dragonfly/

 

Thomas ClaimCo.in