Ripple Sheds Light on “Regulatory Climate” of UAE and the Measured Legal Outlook

Ripple Sheds Light on “Regulatory Climate” of UAE and the Measured Legal Outlook
  • Ripple’s Insights blog focuses on the regulations of the UAE and other regions.
  • The FSRA will be creating a balanced approach for the UAE to promote innovation and protect stakeholders.

There has been a lot of volatility experienced in the regulatory atmosphere over the last year around the world. However, Ripple recently gave an update to their customers about the Ripple Regional event, which was based in the Middle East and North Africa (MENA). The individuals on the panel discussed a possible new approach with the Abu Dhabi Global Markets (AGDM), which would provide a little more balance.

Sagar Sarbhai, the Head of Government & Regulatory Affairs for APAC, noted that there is a shift in the attitude of regulators for cryptocurrency. Before now, there was more of a “wait and see” approach to determine how to deal with this asset, which quickly became a more fearful and uncertain way of handling the regulations, which resulted in more aggressive approaches.

By finding balance between these two sides, places like Thailand and other countries have eliminated their bans, choosing more welcoming rules to urge along innovation without losing the protection needed for stakeholders. By taking on this approach, the environment for regulatory measures has beneficial for the growth of the market.

Simon O’Brien from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA) is one of the team members responsible to creating the regulations for the United Arab Emirates (UAE).

Ultimately, the goal of this team is to create the infrastructure that will go past the normal issues, like anti-money laundering standards. As Ripple’s latest Insight article says, much of the attention will be on “practical needs,” like “market abuse, transparency, and reporting.”

The CEO of BitOasis, Ola Doudin, supports this approach, noting that the long-term potential of the crypto market will ultimately be realized by going further than just the price of the assets included.

In order to follow along with this necessity, the CEO added that the company is developing the new rules with the support of ADGM, though she praised the FSRA team for their decision to be forward-thinking in their framework.

Now, BitOasis is trying to establish itself as the first regulated exchange in the region by the time the year ends.

While global cooperation is a priority of ADGM, O’Brien pointed out that this is hardly the only fixation of the organization. It is presently working with several regional entities, including the UAE Central Bank, as the FSRA works to introduce the bank and others to the new framework. Rather than just regulating the various exchanges, O’Brien added that the licensing of the firms plays a role as well, giving them similar validity to a bank.

Overall, taking this refined approach will hopefully improve the credibility of the crypto market, leaving banks, investors, and other stakeholders with more confidence in it. Doudin concludes that everything will come down to “risk and reward,” though the infrastructure will hopefully be designed in a way that both sides feel comfortable with this wager.

Presently, Ripple’s XRP token is trading at $0.449539, rising by 0.5% in the last 24 hours.

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Author: Krystle M

Bitcoin Bulls and Mainstream Media Not on the Same Page as Headlines and Price Shows Divergence

Bitcoin Bulls and Mainstream Media Not on the Same Page as Headlines and Price Shows Divergence

Bitcoin is more famous now in 2019 than it ever was before. The recent price spike caused the newest wave of people investing in the asset today. Traditional financial investors, giants from social media and even retail companies such as Starbucks are all talking about cryptos, this is a fact.

However, most of the mainstream media outlets flat out affirm that Bitcoin can be known as a fool’s gold, not digital gold. According to them, the whole thing ranges from a scam to a bubble, something that the investors know that it is not the truth (although eventual bubbles do happen and they end bursting like last year).

Also, while die-hard crypto fans hold their own keys and praise the decentralization of the ecosystem, several crypto users are simply not that much excited about the whole idea. They often do not care about nodes, private keys and cold wallets, they just want a trustworthy company to hold their digital money for them.

This interesting new Reddit post created by u/atc2017 has tried to correlate how the notoriety of crypto and Bitcoin is going up with how prices go up and down. The main reason for creating this was to understand how rise and fall in prices are correlated with exposure and awareness, a theory that is pretty popular in the BTC community.

Tooling to analyse Bitcoin/Crypto exposure in mainstream media, exposure is increasing from CryptoCurrency

The graph shows in green the positive mentions of BTC and crypto, the negative ones in red and neutral in gray. Unfortunately, even as the prices increase, most of the news is either neutral or negative and almost none of them are positive.

With the graph, it can be clearly seen that the media continues to be skeptical even as the crypto bulls are making more and more money. Even when the big price increases happen, the token is not really appreciated by the media outlets, as the price bumps may be comparable to more news about it, but not necessarily positive exposure.

When the prices go down, however, negative exposure tends to go up, which clearly shows the negative bias that the traditional media has against BTC.

What could actually be surprising is that most of the time the news is generally deemed to be fairly neutral. This shows that it does not really mean whether prices are going up or down, the media also does not seem to hate BTC that much. Also, this year the negative views have somewhat diminished.

Are these trends ever going to chance? We have to wait and see. Negativity will certainly continue for a long time, at least until the ecosystem is fairly well-regarded around the whole world.

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Author: Gabriel M

Bitbond Small Business Loan Company Gets Legal Approval to Launch Security Token Offering (STO)

Bitbond Small Business Loan Company Gets Legal Approval to Launch Security Token Offering (STO)

Small Scale Loan provider Bitbond is raising €3.5 million up in a Security Token Offering (STO) to help SMEs in Asia. This denotes the first STO to be endorsed by German administrative body BaFin.

As a private venture involved in loan provision, Bitbond boasts of facilitating business loans worth over €13 million to support SMEs with the use of eCommerce platforms such as Amazon, eBay, and Etsy.

The funds generated from the potential Security Token Offering will be invested in loans to aid the growth and expansion of SMEs and online retailers across Asia.

First Of It’s Kind

Notably, the Bitbond STO happens to be the first STO in Germany to have its outline endorsed by BaFin- the country’s top financial regulatory body- as it looks to encourage crypto adoption.

The platform already bolsters more than 150,000 clients in 80 nations utilizing blockchain innovation to encourage suitable cross-border settlements as well as machine-based learning for effective credit-scoring.

According to CEO and founder of Bitbond Radoslav Albrecht;

“We are still in the process of uncovering the potential of emerging technologies like blockchain and machine learning, so it’s exciting to be at the forefront of this developing space.”

What The First Regulated STO In Germany Could Mean

It is impressive and applaudable that the German supervisory body is ready for advanced securities contributions. Undoubtedly, blockchain innovation could serve as a credible source of capital for independent businesses and small ventures across the globe. Albrecht also clarified on the conventional monetary framework as he was quoted saying:

“The traditional financial system is acting as an obstacle for countless entrepreneurs across the world. With this STO, we will continue to offer accessible loans to the small business that need them, so that they can grow and invest in their own communities in turn.”

Numerous organizations are already profiting the Bitbond platform. One of such is the case of Dr. Joemar Taganna, a bioengineer, who got a business loan from Bitbond to aid the launch of his software product development business; SciBiz. He enthused:

“It’s much easier to secure a Bitbond loan than more traditional routes to seed finance. There’s a lot less hassle, which makes it quicker to launch a business and achieve sustainable growth.”

This STO will keep running until the 8th of July and is available to financial specialists around the globe with the exception of the United States.

Could This Be A False Start?

Although many industry specialists already predicted the approval and endorsement of a Regulation A+ STO, the Bitbond STO– being the first government-authorized STO in Germany- just about shows the level of advancement being made in the country and Europe at large, although the U.S. appears to keep hauling its heels.

A Regulation A+ will be an extraordinary achievement for the cryptocurrency and blockchain space, however, the need for an ‘Exchange Agent’ seems to be a noteworthy hindrance that restricts crypto firms in the U.S making such significant moves.

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Author: Damola

Facebook’s Aging Demographics Could Prove to be a Challenge For Company’s New Crypto Offering

Facebook’s Aging Demographics Could Prove to be a Challenge For Company’s New Crypto Offering

Facebook currently owns the largest social media platform in the world. This is pretty much enough in order to have a successful launch for the long-awaited Facebook Coin, right? Well, not so much, according to a new piece of research made by Diar.

The new currency created by Facebook is set to disrupt the global banking networks and to earn a lot of money for Facebook while doing so. By removing all the financial barriers and making some of the products advertised on the company cheaper, the idea is to take over the world, basically.

However, the new report from Diar poses an interesting question which should be taken into account in order to discover if Facebook has big chances or not. The fact is that the users of Facebook are continuously older as time passes. New generations are not as prone as the old ones to keep using the social media network.

This demographic could prove to be the largest challenge for Facebook so far, especially as the company is struggling to widen its reach. The main problem happens because older people are not so prone to know about cryptocurrencies and to be willing to use them as young ones.

According to the report, the most probable strategy that Facebook will use in its expansion is to target countries which do not have a very strong financial structure. This way, they will offer their token to people as an alternative in order to make payments online.

It is important to notice, too, that the so-called Facebook Coin (also known as Project Libra), will possibly be used on WhatsApp and Instagram, too, which changes the whole scenario, especially when you consider that the userbase of Instagram is considerably younger than Facebook’s.

Facebook Is Already Starting Partnerships To Launch New Token

Another important fact that should be taken into account is that Facebook is already moving major partnerships forward. The company is said to be currently dealing with the Western Union, which will possibly help Facebook in the future. Other rumors, however, affirm that the company is only consulting as part of its research to provide services for the unbanked around the world.

Facebook also met with representants of both Visa and Mastercard, the two largest payment processors in the world right now. Even the venture capitalist investor Tim Draper was consulted by the company. He is known as a major Bitcoin bull and a crypto enthusiast.

Last week, it was also reported that the giant of social media was talking with members from both Coinbase and Gemini, two prominent crypto exchanges in the U. S. market. According to anonymous sources cited by the Financial Times, Facebook has negotiated with the companies in order to ensure that its stablecoin has a peg to the value of the USD.

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Author: Gabriel M

Bitcoin Topology Report Explained: Part 1

Bitcoin Topology Report (Pt. 1)

The purpose of this article is to take a look at Bitcoin’s topology and metrics and relay that information.

In this piece, various facets of the Bitcoin network will be analyzed to assess its overall ‘health’ and status.

Any and all metrics that can be conveniently viewed via various explorers/data analysis sites will be aggregated and cited appropriately in the compilation of this report. Information compiled May 20th, 2019

Mempool Data

Understanding the Picture Above

Upon viewing the picture above, you may have noticed that there are two scales on the y-axis. On the left side, we can see percentages and on the right, we can see data sizes.

The reason why ‘Bitcoinvisuals’ is a preferred source for analyzing a hefty number of Bitcoin metrics is because they run their own node using default settings. So when their findings are analyzed, we can get a better sense for the ‘load’ that certain Bitcoin conditions impose upon individuals running full node setups on the network.

Specifically, ‘Bitcoinvisuals’ states:

Our node’s memory usage for unserialized mempool data. We run default Bitcoin Core settings.”

Notably, ‘BitcoinVisuals’ is running a ‘bitcoind’ setup, which is optimized for RPC (remote procedure call) usage.

What is ‘Bitcoind’?

When ‘BitcoinVisuals’ refers to ‘bitcoind’, they are referring to a version of the node software that allows for querying the chain using JSON.

Bitcoin, in its initial iteration, could not be queried for information (i.e., wallet balances, addresses, transactions, etc.) without implementations such as ‘bitcoind’ being created to facilitate such calls.

Examples of API Calls That Can Be Made

The list above is not exhaustive, by any means — but it does shed greater light on how several of the most popular blockchain explorers are able to extract information and deliver it to users in a ‘readable’ format.

Explain the Y-Axis Percentages

The percentages on the left side of the y-axis, represent the nodes set capacity for pulling transactions from the mempool.

Setting a limit on the number of transactions that are pulled from the mempool is critical to ensure the security of the protocol. Otherwise, without a limit, nodes would endlessly pull in transactions into their mempool.

This, of course, would create a significant vulnerability on the network because spam attacks would eventually force nodes (with insufficient memory) to crash.

Fortunately, as stated above, there are measures in place on the protocol that are designed to prevent this from happening. The specific code in question can be found below:

In the picture above, we can see that the default max MB that nodes will pull running this implementation is 300 MB.

Accordingly, the percentages on the left side of the y-axis for ‘BitcoinVisuals’ shows how ‘full’ the node’s mempool allowance is at a given time.

Why This is Important

It is ultimately up to nodes to relay information to the network and it is up to nodes to accept certain information as well. While 300 MB is the default capacity for nodes, there is no guarantee that nodes will be able to continuously function at this capacity in the long-term without running into some issues.

In such an instance where the mempool is filled (under the default settings), full nodes running bitcoind can exercise their option to elevate the ‘minrelaytxfee’ which simply stipulates that:

“Fees (in BTC/kB) smaller than this are considered zero fee for relaying, mining and transaction creation (default: 0.00001).”

If this is confusing, take a look at the stackexchange answer a user gave below, which eloquently explains the ‘minrelaytxfee’ setting in greater detail:

If, for whatever reason, a full node does have its mempool filled, then new transactions will replace older transactions as long as the newer ones have a higher TX than that of the pre-existing transactions with the lowest fee.

Recent Spike in Transactions

For those that have been paying attention to current events in the Bitcoin space as of late, they may have noticed that Bitcoin’s mempool has seen a noticeable spike.

However, this spike has not coincided with the increase in price (i.e., greater usage from increased interest), but rather as a result of a ‘spam attack’ on the network.

Recently, the Bitcoin Cash network was attacked during its hard fork upgrade. This was covered in full by the author in a series of tweets posted below:

In what may have been retaliation, it appears the Bitcoin mempool also started getting spammed that same day (May 15th, 2019):

At one point, there was approximately 150 MB worth of transactions in the mempool at one time.

Since then, however, it appears that the mempool has sorted itself out — dropping from a high of 70k+ unconfirmed transactions to just 500 at its lowest.

How Do Spam Attacks Work?

In order to understand this, we need to go back to why Bitcoin Core has a ‘fee market’ set in place.

There is some insight provided for this in Bitcoin’s whitepaper. Specifically under the ‘Incentive’ heading, it states:

This is elaborated upon further in the Bitcointalk forums when a user questions how Bitcoin intends to prevent itself from being rendered vulnerable to a DoS attack on the protocol: https://bitcointalk.org/index.php?topic=287.msg8810#msg8810

In this thread, Satoshi Nakamoto explains that the fee structure was not only established in Bitcoin to provide an incentive for miners to mine, but also to protect the protocol from spam costs.

The logic behind Satoshi’s reasoning was simple. If a mandatory minimum is attached to TXs of a certain size, then this would disincentivize bad actors from spamming the transaction with constant 1 satoshi sends.

This theory worked well for the time being (circa 2010), but in latter days, we have come to see that Bitcoin has continued to be plagued by spam attacks due to bad actors seeking to harm the protocol’s efficacy.

This results in an elevation of the mean fee that must be paid in order to get a transaction into a block because Bitcoin transactions are accepted on a priority basis (remember the economic incentive we discussed above).

Due to the basic nature of humans, Satoshi was able to accurately use this to Bitcoin’s advantage by allowing miners to choose transactions with the highest fees. Thus, those seeking to get their transactions confirmed “immediately” must simply pay a fee that is higher than the bulk of users.

This break down by user, ‘AndrewBuck’ in the thread, explains the system perfectly:

Inherent Issue

As more transactions are spammed onto the network, the fee rate increases. This is also true with usage of Bitcoin.

Notably, this led to a situation in 2017 where, when the mempool was at its largest size (consistently, day over day), the necessary median fee to ensure that a transaction was confirmed in a reasonable amount of time was approximately $28.

In some cases, the fees for sending Bitcoin in a convenient time frame (within 1 or so transactions) was even greater than the amount that some individuals were looking to transact or the fee would take a greater portion of the ‘send’ than the remainder of the transaction after the fee had been extracted.

Thus, since we have already seen what many claim to be increased activity on the blockchain, we’re going to go ahead and take a look at Bitcoin’s median and mean fees over times.


Bitcoin Median Fee

As expected, the median transaction fee (fee/tx) increased substantially during the time that the market had been spammed.

As can be seen in the chart above, on May 12th, 2019, the average fee/tx was $0.39 (USD value derived from averaged market price of Bitcoin at the time). Soon after, however, the average fee/tx rose to $4.79:

The good news is that the average fee/tx here is lower than what it was previously when mempools were filled up to a comparable height before SegWit implementation became more widespread (2017).

However, it is still worth noting that the average transaction fee did spike to $4.79. Those in the upper 90th percentile were paying as much as $6.37 to have their transactions confirmed.

Even now, at the time of writing, the transaction average fee/tx stands at $2.56:

Comparing the Fees to Other Protocols

Bitcoin Cash Fee

At the time of writing (May 20th/21st, 2019), the median Bitcoin Cash fee/tx (USD) was $0.0011.

Litecoin Fee

At the time of writing, Litecoin’s median fee/tx is $0.015 (USD). In order to put these metrics into perspective, however, mining profitability must be taken into account:

The fact that Bitcoin is a more expensive protocol (in terms of sending fees) is not an issue. However, when this issue is juxtaposed with the fact that Bitcoin Cash is slightly more profitable to mine on currently, these statistics become a bit worrisome for any Bitcoin maximalist.

While Bitcoin does still possess the advantage of the network effect, large disparities between Bitcoin Cash’s financial metrics and Bitcoin could pose a problem in the short-term.

Evaluating Bitcoin’s Fees / (Conclusion)

As mentioned above, one of Bitcoin’s primary issues in 2017 was the exorbitant fees that users had to pay in order to have their transactions confirmed in a reasonable time frame.

As noted earlier in this report, transaction fees had climbed to well over $20 at one point in time.

Part of this was due to the activity on the network, but this was also partially attributable to ‘mempool spamming’, which is yet another phenomenon that was covered earlier in this report.

Specifically, however, in the next installment of this research, we’re going to go ahead and look at the current fee rate (in Satoshis and USD) and analyze whether Segregated Witness has been helpful in lowering the overall fee rate for Bitcoin.

Stay tuned for Part 2 of my report.

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Author: ZeroNoncense

XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account

XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account

XRP data compiler, XRPL Monitor has recently been active on Twitter with updates regarding XRP token moves across different wallets. This seems to have occurred with other cryptocurrencies including Bitcoin [BTC] and Ethereum [ETH] as well, however, it’s the XRP token amounts that have had a shocking effect.

As per AMB Crypto’s reporting, on Tuesday, May 28, 2019, some 10 million XRP tokens have since been moved to a Coinbase Pro Account with as little as 20 drops, which is equivalent to 0.00002 XRP.

The news outlet further noted that the account in which said amounts originally belonged to, had an address of rH51tppA1cF5J75GS6MqaJhJQFm2PPXG2. Many crypto fanatics seem to have also expressed concern in said moves. Particularly, AMB Crypto referenced George Leithead, who was surprised to see a balance of 0, considering that there should be, “a minimum for all wallets (more for multi signature wallets).”

However, another XRP fanatic resolved the aforementioned concern by sharing the following:

“A wallet can go below the reserve if it’s the tx fee that takes it below that threshold. The account is still active in the sense other accounts interact, but it is no longer able to make txs itself until it is funded back over that reserve.”

At the time of writing, CoinMarketCap show XRP’s current value as being USD$0.445682 with a volume of USD$2,667,654,313.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Nirmala Velupillai

Whale Panda Calls Out Kin Foundation For Its “Defend Crypto” Movement as Others Chime In

Whale Panda Calls Out Kin Foundation For Its “Defend Crypto” Movement as Others Chime In

It is no secret to all that know the crypto world that some companies are struggling a lot to defend their businesses after they started to be chased by regulators. In the United States, a very important battle is being fought by several companies and the U. S. Securities and Exchange Commission (SEC).

However, not all the companies battling the SEC in order to keep its products alive are being very well received by the community. For instance, the Kin Foundation, which is behind the Kik app, has started a movement in order to fight the SEC and “defend crypto”. This movement has been very criticized lately.

Kin, the crypto services created by Kik, had an unregistered Initial Coin Offering (ICO) back in 2017 in which the company was able to raise $100 million USD, quite a high amount. After that, the SEC went to the company to sue it for offering unregistered securities. While some have defended the company, Whale Panda, a very prominent crypto influencer called them out.

According to Whale Panda, these movements to “defend crypto” are not legitimate. The company did a very shady ICO which was obviously a security token and they got caught by the SEC. Since then, negotiations are not pretty. Now, he affirmed, the company is set to use other shady ICOs to pressure the SEC.

He also affirmed that the allegation of Ted Livingston that more people were using Kin than any other crypto in the world was actually fake and people made fun of the company’s defensor online after that.

An attorney named Josh Lawler also voiced his opinion today and affirmed that the SEC will end up losing the case even if they win. According to him, the SEC exists only to protect “main street” investors. If the SEC winds against Kik, they will hurt the investors that they are trying to protect in the first place.

Circle, however, tweeted announcing some vague support for the so-called movement. The company affirmed that it was with the Kin Foundation because they struggled to make cryptos flourish in the United States like many other companies in the industry.

Most of the personalities on Crypto Twitter were not so generous, though. Jeremy Rubin, Riccardo Spagni and others affirmed that they did not sympathize with the movement at all.

Rubin even tweeted a “hot take”, in which he affirmed that the whole “defend crypto” movement was very sickening because cryptos were not under attack, only shady business practices. Kin was probably a security token in his view, so it made sense that the SEC decided to reject it.

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Author: Gabriel M

ABN AMRO Clearing Bank, BUX Partner to Work on Blockchain Investment Trading App STOCKS

ABN AMRO Clearing Bank, BUX Partner to Work on Blockchain Investment Trading App STOCKS
  • ABM AMRO Clearing signs a new partnership with the mobile investment platform BUX
  • The new commission-free stock trading mobile app is expected to be released this summer

ABM AMRO Clearing, a global securities services provider, has signed a new partnership with the mobile investment platform BUX to create a commission-free stock trading mobile application. The information was released by BUX in a press release on May 29.

ABN AMRO Clearing Signs Partnership With BUX

As per the news release, ABN AMRO Clearing is one of the top three clearer for derivatives and cash securities, OTC products, commodities and other asset classes in different time zones. Indeed, the company was able to process 3.79 billion trades just in 2018 alone.

The new application is going to be called STOCS and it is expected to be launched as soon as in summer 2019. The goal is to reach the the whole European Continent and start rolling it out in the Netherlands, followed by Germany and then the rest of Europe.

The funds that clients will deposit on the platform are going to be held by ABN AMRO Clearing in a specific individual blockchain bank account. This bank account leverages the proprietary Banking-as-a-Service platform, which will allow ABN AMRO Clearing to operate as a bank.

At the same time, ABN AMRO Clearing will also provide STOCKS with a solution called Smart Order Routing that will allow clients to buy and sell orders on the platform.

According to a BUX spokesperson, the new solution is expected to work in a similar way to a bank account. However, instead of using escrow accounts, the funds will be administered in the blockchain network.

Moreover, ABN AMRO has also launched a blockchain inventory tracking platform that is used to leverage the Internet of Things (IoT) technology.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

New Digital Fiat Currency System in Development by the Central Bank of the Bahamas (CBOB)

New Digital Fiat Currency System in Development by the Central Bank of the Bahamas (CBOB)
  • New payment system for digital assets to be introduced by Central Bank of the Bahamas.
  • The initiative, Project Sand Dollar, includes a collaboration between Zynesis and NZIA.io.

The Bahamas is known as a place of luxury to tourists, and a recent announcement from the Nassau Guardian indicates that the Central Bank of the Bahamas is making the environment more friendly. Reported on May 29th, the CBOB will be starting the development of a digital fiat currency system, starting with an official agreement with NZIA.io.

The bank and the transaction provider, respectively, will be responsible for creating and implementing “Project Sand Dollar,” which will be the first time a digital currency has been created in the Bahamas. The collaboration with NZIA.io was first announced in March by the central bank, joining the Zynesis software development firm in the project.

As described by the central bank, Project Sand Dollar will be working on an electronic payment system for “integrated, affordable” remittance, which will be geared towards the local businesses and residents. To be integrated seamlessly into the current financial infrastructure, the team behind the project will ensure that this payment system falls in line with the local financial regulations.

All residents of the island country will now have equal access to digital payments, which reduces the service delivery costs associated with performing transactions with cash.

At this point, there has not been an island selected to pilot the new payment system. However, John Rolle, the bank governor, said that the Family Islands should be ready to completely adopt the initiative by the end of next year. The original plan to bring in a digital currency with government support was announced by CBOB in June last year.

Not all countries are taking such a progressive stance. In fact, the president of Deutsche Bundesbank in Germany warned banks that the volatility of the crypto market could put central banks at risk in the country. The official added that the integration of crypto assets could also create instability of the financial system, specifically in crisis situations.

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Author: Krystle M

Participating in the IEO of CMA project on IDAX (www.idax.pro) is an amazing investment opportunity that you cannot miss.

CMA project is building an Ecosystem for New Era of Decentralized Marketplaces.

CryptoMarketAds.com is the first fundamental product. It is a new marketplace which solves all crypto advertising and marketing problems by connecting crypto market publishers (influencers, social media, marketing companies, etc.) and advertisers (crypto companies) in one place (marketplace is working already and got over 600+ offers for sale just in 7 weeks after the launch). Also, this will help crypto companies to promote their decentralized marketplaces which they will build using other CMA products.

To create a decentralized ecosystem for marketplaces CMA project will develop additional new products: new blockchain for marketplaces (“internet of goods and services”to let any marketplace place their business on the blockchain), ICO platform for marketplaces (to let new/old marketplaces get funding), the visual drag & drop marketplace builder (to let anyone build their own decentralized marketplace).

CMA is also world’s first IEO decentralized marketplace ecosystem project. The IEO will be held on IDAX and at least 6 leading exchanges gradually and upon completion will make a listing on at least 8 exchanges.

Because of the simple and secure IEO on IDAX, you can participate conveniently after registration.

On June 5th, 13:00 (UTC+8) IDAX will provide CMA (CryptoMarketAds) token through an Initial Exchange Offering. With special conditions for participated users: up to 28% bonuses during the first round.

The CMA project is making available total 160,288,000 CMA (CryptoMarketAds) tokens to IDAX users in the IEO.

Official announcement: https://idax.zendesk.com/hc/zh-cn/articles/360028837471-IDAX-Foundation-new-project-CMA

About IDAX (www.idax.pro)

IDAX is an international exchange platform originating from GBC (Global Blockchain Research Centre). IDAX was founded in 2017, within several month, it gained to be in Top 10 exchanges of CMC rank. IDAX provides users from all around the world with convenient, safe and fast digital cryptocurrency transaction service.

After launching Foundation in January 2019, IDAX has raised over $10 million among private investors and is now offering IDAX users the opportunity to support the BTD project by purchasing BTD (BitDisk) tokens.

In the past year, many blockchain projects staged so-called public sales of tokens without a concurrent listing on a public exchange, increasing the likelihood of fraud and security problems. As one of the world’s leading exchanges, IDAX values every user and uses various ways to create investment value for users, such as selecting outstanding projects and help users participate in project IEO, maintaining our relationship with users from a long term perspective.

About CMA (https://www.cryptomarketads.com)

Based on trillions of market value of global marketplaces, CMA welcomes worldwide marketplaces and users who can become a CMA blockchain nodes by staking CMA coins in near future. Working together with all nodes of the whole network, CMA will form specialized blockchain only for marketplaces, to ensure high amount of transactions verification, characterized by globally-distributed, always-on, never powered-off, remote disaster tolerant, secure and infinite scalable capacity.

CMA project helps any marketplace, starting with small local marketplace till big one such as aliexpress.com to put their business on CMA blockchain. At the same time, the nodes will get corresponding CMA coins according to its comprehensive contributions to the stable operation of the whole network. CMA incentive point represents the total transactions of the whole network. The total amount of CMA is limited and a part of CMA will be destroyed during the operation process, therefore, it possesses powerful and inherent value growth impetus.

Anyone and anywhere in the world will build their own marketplaces using this easy visual tool – visual decentralized marketplace builder. Starting from work at home moms till big companies.

After building their own marketplace, people will fundraise money using CMA coin for the new marketplace marketing and operations – ICO platform for marketplaces.

For crypto advertising and marketing people will be using CryptoMarketAds.com marketplace to fundraise funds for their new marketplace and get new users. Marketplace publishers will lock-up up to 5 million coins to get 50% discount on Fees. (1000 Publishers = 5 Billion tokens locked, huge scarcity)

From April 2019, taking the opportunity of IEO, CryptoMarketAds is attracting vast new users through rapidly growing development, which drives CMA project into high-speed growth.

By December 2019, CMA will expand into many new countries – Asia, Europe, America.

By June 2020, TestNet of new blockchain will be launched.

By October 2020 CMA will be launching new blockchain and swapping CMA token to CMA coin.

This ecosystem will make CMA coin one of the rarest ones with highly specialized utility. It will attract a lot of traders, contributors and holders.