EOS Block Producers Reach ‘Strongest Consensus’ In Approval Of Worker Proposal

The EOS Worker Proposal, which is famous for being very controversial, was announced by the most important EOS block producers that it went into its first execution stage and is supported by many participants to the network.

One of the leading EOS block producers, EOS Nation, reported that many Eosians agreed to support the new proposal and nothing could have changed their mind. On March 24, it also announced that a number of 34 both active and standby producers approved the EOS Worker proposal. It seems that until now, this is the strongest consensus achieved by any proposal in the EOS Mainnet.

The Eosio.wps System Launched

The March 24 first multi-signature approval launched the eosio.wps account that stores funds needed for new operations on the system. After this approval and the MSIG execution, eosio.wps will receive 50,000 EOS tokens in transfers from eosio.names, while the 3rd MSIG is going to deploy the Worker proposal smart contract to the same account, namely eosio.wps. After the 4th approval, the new proposal will have the whole network’s voting system reconsidered.

A Proposal Surrounded by Controversy

According to the new scheme and outlines, anyone can make a proposal on how the EOS blockchain should work, in exchange for a small EOS fee. After that, the block producers, regardless if they’re active or standby, need to vote on the proposal with +1, -1, or 0. In order to pass, a proposal has to gather 20 points. Here’s what the co-founder and CEO at Block.one, Brendan Blumer, had to say about the strategy employed by EOS:

“Socially authorising the BP’s to direct token-holder funds into projects without a clear or measurable return of value is risky, and may open the door to corruption and external scrutiny.”

Many voices don’t agree with him, but it remains to be seen how things are going to work for the EOS Worker Proposal in the future.

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Author: Oana Ularu

Coinbase Admits To Testing Clearview’s Controversial Facial Recognition Software

The California-based crypto exchange giant, Coinbase, has admitted to using the controversial facial recognition software developed by Clearview.

According to BuzzFeed, which obtained an internal document from the New York-based AI company – Clearview – shows that the company has, so far, partnered with over 2,000 firms and authorities globally through the sale of its still controversial technology or through mutual sharing.

The company is currently facing a number of legal threats from organizations like Google and Apple.

Clearview’s facial recognition software, alongside its current operations, have faced intense scrutiny after the New York Times published a story indicating that the startup’s database contained over three billion images scraped from various websites and social media networks without the awareness or consent from users or publishers.

Hoan Ton-That, Clearview’s CEO, had indicated that the technology had only been used by law enforcement agencies, with the firm only working with organizations in the United States and Canada.

However, an anonymous source has since exposed the whole list of Clearview’s clients from over 26 nations.

The list includes renowned businesses like Walmart, Best Buy, Macy’s as well as banks, universities, government agencies, high schools and various police departments.

However, it is the inclusion of Coinbase that is surprising to the majority of crypto enthusiasts since the industry is driven by the need to have privacy.

A spokesperson for Coinbase has explained to BuzzFeed that the exchange was a test of the technology for security purposes as well as compliance. She explained, that Coinbase’s use of Clearview’s AI as a potential security framework.

“We used Clearview to see if the service could meaningfully bolster our efforts to protect employees and offices against physical threats and investigate fraud.”

The spokesperson went on to say that the exchange has yet to make any commitments on the use of this technology.

Coinbase is no stranger to user privacy issues, having previously been forced to clarify that it didn’t sell clients’ data after a top executive admitted that a former analyst had sold clients’ data to third parties.

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Author: Joseph Kibe

South Africa’s Financial Regulator Dismisses Karatbars (KBC) Crypto Assets As A Financial Product

Karatbars International controversial KBC coin will no longer be getting attention from South Africa’s financial markets regulator, the Financial Sector Conduct Authority (FSCA). The regulator had earlier on issued a warning terming the KBC coin a ‘fraud’; German’s BaFin also made similar moves in response to Karatbars operations within its jurisdiction.

FSCA Vs Karatbars International

The FSCA warning to Karatbars back in November triggered a response in which the digital asset-oriented firm acknowledged involvement in marketing activities for its Karat Gold coin. However, the firm noted that the underlying crypto asset would launch in the SA market at a much later date. Karatbars also said that they are actively involved in the sale of gold bullions.

Looking back, it is notable that FSCA warning was mainly driven by the ‘crypto asset’ product mention. This SA regulator moved in after Karatbars started its marketing campaign and information circulated on the sale of KBC coins via WhatsApp. The recent developments however show that FSCA might have changed its strict stance towards Karatbars and instead opted to ignore.

According to a Dec 13 update by the FSCA, none of the Karatbars products fall within the SA financial market jurisdiction. This is simply because they do not meet the definition of financial products as one would say for securities. Despite being a significant statement, turning a blind eye on potential securities fraud by Karatbars can further give the firm leverage to market and sell its products in South Africa.

The Controversial July KBC Coin Hype

The KBC coin market hype back in July triggered a bull run for the digital currency which saw it rise to around 12 cents. However, this was very short lived as the price slid back to 3 cents in a month’s time. Some Analysts within the crypto industry said that the marketing efforts were part of a pump and dump strategy in which top promoters and management cashed out.

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Author: Lujan Odera

Binance Lists Blockstack Token (STX) For $250,000 Despite The Exchange Claiming It Is Not a Fee

Binance has been involved in a controversial story recently. According to a recent filing of the U. S. Securities and Exchange Commission (SEC), the company has recently received $250,000 USD from Blockstack (STX) to list their tokens for a year. However, Binance confirmed that the token was listed “for free”, which has caused quite some controversy.

The SEC filing states that 833,333 STX token were paid to Binance. With each one of them being worth around 30 cents, the company paid around $250,000 USD. Not only was the amount paid upfront, but the company will make three additional payments to the exchange, all with the same amount of money. These payments will be made on the three first anniversaries of the filing.

The company will also pay around a million dollars to Binance during the timeframe of three years, but also an additional $100,000 USD in payment fees for marketing.

Per the SEC filing document,

“[Blockstack] will pay three additional incremental payments of 833,333 each, on the first, second and third anniversaries of the Services Agreement’s effective date provided the Stacks Token is continuously listed on Binance prior to each such date. In addition, the Company will pay Binance a USD $100,000 payment for Binance’s marketing services.”

Binance, a company that promised to give all of it’s listing fees to charity, states that this was not a listing fee.

The official announcement from the company is that this was a “marketing fee”, which was Blockstack’s idea:

“A long term payment fee is an incentive proposed by Blockstack for Binance to keep the token listed on the exchange. This is a new payment fee proposed by Blockstack.”

Blockstack’s CEO Muneeb Ali continued,

“The ‘Long-term Payment’ is something new that is not part of Binance standard agreements and it was an idea that I had and I proposed it to them. This long-term payment is meant to watch out for the Blockstack ecosystem by incentivizing Binance to list Stacks over many years and aligns well with our long-term focus. The marketing fee is a joint marketing campaign that we plan to run later on, again that is not a ‘listing fee’ but a marketing campaign that we plan to launch in the near future.”

In any case, Binance agreed to receive almost a million dollars over the course of three years and none of that money will go to charity. Whether the company is lying or not, is up to how people want to interpret these actions.

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Author: James W

Roger Ver and Bitcoin.com Acquire O3 Labs, a Blockchain dApp Developer in Japan

Bitcoin.com, a company led by the controversial Roger Ver, has recently acquired O3 Labs, a Japanese blockchain development firm. According to the official announcement, which was made today, the company was acquired for an undisclosed amount of money.

Until now, O3 Labs was focused on offering a digital wallet for its customers, which had a programming interface to be used for developer support. The wallet also supported some lesser-known tokens such as NEO and Ontology.

Stefan Rust, the CEO of Bitcoin.com, commented on the occasion. According to him, the team will join Bitcoin.com and it will help in the acceleration of all services in the network. He also affirmed that one of the goals was to let the customers manage their assets in a more effective way without needing any kind of traditional bank to do it.

According to the agreement of the sale, O3 Labs will be absorbed into Bitcoin.com. All the staff will be maneuvered to new positions. It was not announced, however, whether the two founders of the company Andrei Terentiev and Apisit Toompakdee, will join the company.

Another point not completely clear right now is what Bitcoin.com is planning to do exactly with the new company. Rust seemed to hint that a new project would be developed, but there is not enough information to confirm that.

This was the first time that Bitcoin.com acquired another company since Rust started as the CEO. Before him, Roger Ver was the CEO of the company.

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Author: Gabriel Machado

Calvin Ayre Claimed The Court Ruled Craig Wright Is Satoshi, Invented Bitcoin But Was Wrong

The controversial duo responsible for Bitcoin Satoshi Vision (BSV) has come under the fire of the crypto community once more. Calvin Ayre has claimed that his business partner Craig Wright has been proved in court to be Satoshi Nakamoto, the creator of Bitcoin. He lied.

This is just the most recent of the duo’s controversies. Craig has been on the spotlight since he affirmed that he was the creator of Bitcoin, which almost no one believed. Ayre is somewhat less controversial, but this time he made a mistake when he claimed that the judge ruled that Craig was Satoshi.

According to him, during the case in which Craig is being accused of stealing $10 billion worth of BTC from his late partner, the judge understood that Craig invented BTC. However, the judge has absolutely not said that in any moment of the judgment.

Crypto Twitter promptly attacked Ayre by affirming that this was not the truth. At the moment, it is unknown how Ayre came to this conclusion despite all the proof that this is not what happened.

The Bitcoin SV Fiasco

The reputation of both Ayre and Wright took a hit last year when they decided to hard fork from Bitcoin Cash (BCH) back in November and create their own token. BSV had a pretty rocky history since then and several problems.

At the moment, the token is considerably less valuable than BCH. BCH is the 4th largest token by market cap with the price of $294 per token and BSV is only the 9th largest one, with the price of $126 USD.

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Author: Nirmala Velupillai

John McAfee Lauds Dogecoin Growth as Evidence of Cryptocurrency Independence

John McAfee Lauds Dogecoin Growth as Evidence of Cryptocurrency Independence

Controversial Bitcoin bull John McAfee has pointed to the growth of Dogecoin as evidence that the cryptocurrency market is independent of the stock market. According to McAfee, Dogecoin which started as a joke has grown to become a multimillion dollar cap cryptocurrency.

“Doge started life as joke/prank coin. The coin now has a market cap of $360 million. The crypto market is, in no way, related to the stock market. Inherent value is, ultimately, based on usage. Doge is one of the fastest growing coins based on use. Go figure.”

Dogecoin indeed seems to be gaining a lot of popularity within and outside the cryptocurrency industry alike. Elon Musk had earlier referred to it as his favourite cryptocurrency. It was even reported that Musk became the CEO of Dogecoin for a few minutes, a position he still identifies with till date.

Dogecoin was founded in December 2013 as a joke cryptocurrency. The cryptocurrency grew to have a market capitalization of $60 million within a month in January 2014. It is majorly used as a tipping coin for rewarding content creators on social media, although it has a few applications outside the cryptocurrency space. It is currently the 28th largest cryptocurrency with a 9.8% ain in the last 24 hours.

The creator of the coin Billy Markus intended for it to be a more popular coin than even Bitcoin the leading cryptocurrency as well as to be an example for other altcoins. The cryptocurrency has been used for several purposes by different individuals and organisations. Notably, it was used to sell a house and has been used to raise $55,000 to sponsor NASCAR driver, Josh Wise.

This points to the usability of Dogecoin and McAfee must be referring to the fact that even a “joke” cryptocurrency can become huge provided it is useful and does not need the stock market to grow. Dogecoin currently has a market cap of nearly $410 million and is still growing.

[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: Ponvang Bulus