Global Container Terminal Joins Maersk And IBM’s Blockchain Shipping Platform TradeLens

Global Container Terminals (GCT), a Canadian ship terminal firm announced a partnership with Maersk and IBM sponsored blockchain solution in the supply chain industry, TradeLens.

The blockchain offers enterprise solutions for companies in the supply chain industry to ensure a transparent and efficient network between trade partners.

Speaking on the partnership with TradeLens, Doron Grosman, CEO and President of GCT said,

“Joining a technology platform like TradeLens only adds to our capability to deliver best-in-class service and visibility to our supply chain partners.”

GCT adopts blockchain in four terminals

The shipping terminal firm will gradually integrate blockchain technologies to its four largest terminals strategically placed in the east and west coast North America. The terminal at the Port of Vancouver and GCT Deltaport, Canada’s largest marine terminal, will be run by GCT Canada branch becoming the first two terminals to integrate blockchain.

TradeLens will also start integration operations in New York and New Jersey terminals in, both of which “offer first and last port-of-call intermodal advantage with their on-dock rail facilities.” GCT Bayonne will run the integration process in New Jersey with GCT New York doing the same in NY –both the subsidiaries are under GCT USA.

The partnership allows the partners to securely connect and interact with supply chain providers including ocean carriers, beneficial cargo owners, and railways. According to the post, TradeLens will provide “end-to-end supply chain information, facilitating seamless data sharing, collaboration and improved trade flows.”

A wide network on the world’s oceans

According to a report in early July, TradeLens secured a partnership with two of the largest shipping companies in the world Hapag-Lloyd and Ocean Network Express. Following the partnership, TradeLens now covers close to half of the global trade in the seas on its network.

The partnership follows a trail of connections with other international shipping companies including the Port Authority of the Bay of Algeciras (APBA), the port authority in Russia and a number of private companies. Some of them include major ocean carriers like Maersk, CMA CGM and MSC.

Read Original/a>
Author: Lujan Odera

Tron’s Justin Sun At the Center of Poloniex Exit from Circle; Just ‘Helping Out Some Friends’

Poloniex Cryptocurrency exchange is currently in the process of leaving its parent company, Circle. The firm recently announced that it would form Polo Digital Assets as a rebrand.

At the center of this major transaction is Tron Founder, Justin Sun. Anonymous sources from Circle confirmed to The Block that Justin is a major stakeholder in the ‘Asian Investment Group’. The firm is believed to be a major supporter of Poloniex in the exit process. The strategic exit comes less than two years since Circle acquired Poloniex.

Sources further revealed that Justin Sun had been to Circle’s HQ in Boston a few times. The Asian Investment Consortium under Justin is expected to play a major role in transitioning to Polo Digital Assets. As it stands, Poloniex internal employees have been offered the option to join the Crypto exchange as opposed to staying under Circle.

However, Justin recently tweeted that he is not buying anything, rather investing and to help his friends. He went on to further add that he bets on all exchanges that support TRX.

Read Original/a>
Author: Lujan Odera

Bitfinex and Tether Lawsuit Analysis: The Severity of Roche Freedman’s Case

Stablecoin firm Tether and its associate exchange Bitfinex have received a suit filed by a New York-based legal firm Roche Freedman against Tether token (USDT, stating that it is engaged with market manipulation as the consequence of an unpublished paper. The case encloses that the above-mentioned firms were involved in a “sophisticated scheme” on account of “part-fraud, part-pump-and-dump, and part-money laundering.” We see a significant decrease of approximately 10% as of press time in the market value of the USDT/BTC trade pair because of this lawful dramatization.

Roche Freedman believes that the Tether’s case of all its Tether tokens (USDT) equaling to one U.S dollar is an unmitigated lie. According to the suit, it guarantees that the firm under question has consistently been giving huge amounts of unbacked tokens to not only control the local crypto market but also the digital resource showcase at large. The agents for Tether and Bitfinex gave separate articulations asserting that they have been made aware of an unreleased paper blaming them for controlling the digital currency market. The statements were made just a couple of days before the lawsuit was declared open. The organizations guaranteed that the claims were ridiculous and that if such an article is presented in court against them, they were going to protect themselves.

Regarding the matter of whether these recent charges are authentic, Braden Perry – a government investigation attorney calls for attention to the case that it does not uncover anything new given that the Justice Department and Commodity Futures Trading Commission (CFTC) have been investigating the two firms for quite a while. In any case, these are just claims and no defense has yet been witnessed. He accepts that no genuine damage should originate if the lawsuit is filed. But if any data that confirms these cases ends up open sooner or later, at that point Bitfinex and Tether will no doubt experience some genuine reputational harm.

Daniel Ameduri, writer of “Don’t Save for Retirement: A Millennial’s Guide to Financial Freedom,” was contacted by Conitelegraph to reveal some insight into the circumstances. He believes that the case will probably fail due to the absence of sheer insights.

Felix Shipkevic, an attorney told Cointelegraph that it wasn’t astonishing to find a legal suit against both Tether and Bitfinex considering the lawful interest these firms have received by the New York lawyers over the previous year. Not just that, Felix believes that it will be very hard for the firms to back their charges of crypto market control as they will need to show rationale to manipulate and gain from the damages.

The case thereby highlights that the stablecoin market is in critical need of specific guidelines that can keep such occasions from surfacing again later on.

Read Original/a>
Author: Sritanshu Sinha

Ripple Consolidates its xRapid, xCurrent and xVia Features Under One Network; RippleNet

Ripple recently announced the consolidation of its services within RippleNet offering. The blockchain-oriented firm known for its convenient transfer features in the blockchain ecosystem made these changes to enhance service delivery to clients.

The New Ripple Network Outlook

A spokesman from Ripple noted that besides the change of name, the firm had sought to make its xRapid, xVia and xCurrent features more accessible. As a result, clients will now be able to use xVia and xCurrent on-premises in addition to cloud services. This will be an improvement from the current design that requires prospective clients to buy the features. Furthermore, Ripple’s xRapid technology will leverage the on-demand liquidity that comes under RippleNet offering.

According to Ripple’s sentiments, the strategy to consolidate under one network is a step in the right direction as the market evolves. One of the most notable reasons is a demand in the firm’s services that has seen its user base grow hence the need for a standard development that competes favourably.

Ripple’s Decentralization in Question!

The project has however had its fair share of criticisms with players in crypto attacking the fundamentals of Ripple’s decentralization. This has put the firm in a defensive position over its growth journey. Brad Garlinghouse, Ripple’s CEO, recently said the nature of Ripple’s transparent ecosystem is what has attracted many critics. He added that there exists a lot of misinformation about Ripple’s products amongst the crypto community which can be partly attributed to their success in creating a highly transparent network.

Read Original/a>
Author: Lujan Odera

Binance Teams Up With Coinfirm To Comply With FATF AML Requirements

Top crypto exchange platform Binance has teamed up with crypto analytic firm Coinfirm to enhance its anti-money laundering (AML) adherence.

The new partnership will see Binance integrate Coinfirm’s agnostic AML platform to improve the crypto exchange’s compliance with the new AML requirements recently provided by the Financial Action Task Force (FATF), the global financial supervision watchdog that enjoys backing from major economies in the world.

In a press statement issued by Binance on Thursday Oct.3, the new measures also meant to enhance the crypto economy in the world. As per the FATF new measures, crypto operators are supposed to come up with a system that will help in identification of fund senders as well as recipients. Crypto exchanges are also required to carry out quality due diligence to make sure that they are not involved in illicit activities as well as come up with risk-based policies, among other requirements.

To ensure compliance, Binance stated that it will utilize Coinfirm’s products and platforms to assess as well as analyze AML risks for more than 1,200 digital assets, tokens as well as various blockchain services provided within its trading platform.

Binance is not the only crypto operator to engage the services and products of Coinfirm. Recently, crypto market aggregator CoinGecko has also teamed up with Coinfirm so as to enhance its exchange Trust Score algorithm and also offer its clients with means to report scams as well as hacks.

Additionally, tech startup Ripple, largely known for XRP, also joined the fray after it signed an agreement with Coinfirm. As per the agreement, Coinfirm will analyze whether XRP is compliant with AML requirements.

Cointelegraph reports that Coinbase’s chief compliance officer, Jeff Horowitz, recently said it was important for FATF to enhance its supervision of the crypto exchanges but urged for caution on the way the implementation of the requirements is done.

Horowitz warned that application of similar regulations as those of the banking industry can lead to having an inspection of individual to individual transactions and this may lead to minimal transparency for law enforcement.

Read Original/a>
Author: Joseph Kibe

Global Currency Organization Launches USD Digital (USDD) Stablecoin; Profit Sharing For Institutions

Former employees of JP Morgan, Intel, and TrustToken have come together to start a new firm and have released a new stable coin called USD Digital (USDD) token, backed by US Dollar. However, the new stable coin has a twist to its business model, where the institutions using the token would share the revenue.

The stablecoin has been targeted at institutions, exchanges, traders, and OTC desk who are in need of a stablecoin product but can’t develop their own. The business model would be based on 50-50 incentive sharing to propel its adoption. The creators believed that the ethereum based stable coin would provide great transparency to users.

Joe Vellanikaran, CEO of Global Currency Organization said that the coin will provide a win-win situation for adoptors, as it provides all the functionalities of a stablecoin along with the revenue sharing.

Vellanikaran started working on the stablecoin as a general manager and soon realized the potential that these coins provided to investors and institutions alike. Vellanikaran explained the importance of stablecoins saying,

“Let’s say you’re a Japanese student living in the U.S. and you want your parents to send you funds. With the current process, you’d either need a U.S. bank account or be subjected to long delays and conversion fees. With our stablecoin, you should be able to receive your funds in a matter of days.”

He believed that the era of blockchain-based currencies would become mainstream in 10-20 years, however, in order to push for that adoption, institutions need to take a big part in it. He explained,

“For a company to emerge and help move all these dollars to the blockchain, we really have to open it up to the partners. That’s what we think we can do through revenue sharing.”

Stablecoins to Bcome Mainstream in the Coming Years?

The use of stablecoins is currently most prominent on crypto exchanges where it is required for providing liquidity. However, as the crypto space is gaining mainstream traction many institutions have started showing great interest in this form of digital currency. JP Morgan was among the first institution to have announced its plans of launching a digital currency of their own, which did not materialize.

Similarly, Goldman Sacha has shown similar interest, ING’s chief economist aimed at central banks around the globe would start working on their own stable coin backed by the government.

Currently, there are only a handful of stable coins in the crypto space, out of that handful, 90% of the market is captured by Tether’s USDT. Thus, the newly launched USDD with its innovative revenue distribution for use could bring in the much-needed variety in the stable coin sector.

Read Original/a>
Author: James W

AI And Blockchain Firm, Core Scientific, Acquires Personal GPU Mining Software Startup Honeyminer

In a press release on Friday, AI and blockchain firm Core Scientific announced its acquisition of Stax Digital, the company behind Honeyminer for an undisclosed amount.

Honeyminer, a blockchain mining startup is the most widely used GPU program in the world. Launched in mid-2019 and spread across 167 countries, Honeyminer lets everyday PCs run unused GPU/computing power in the background to mine altcoins that are converted to bitcoins later for payouts. It can operate on more than 1400 makes and models of GPUs.

The acquisition comes on the part of Core Scientific’s bid to further develop its infrastructure and software solutions. It will equip Core Scientific with both cutting edge IP and an expert staff that comes with extensive product development experience and strong track record of developing mining solutions for GPUs.

The aim of Core Scientific is to improve its management and monitoring solution, Minder™ and extend its custom OS, MinderOS™ to develop the best-in-class mining solutions that can be embedded on any device or computer in the world.

Discussing the prospects for the newly expanded Core Scientific team, Kevin Turner, CEO said,

“We are very excited to close this transaction and welcome the Stax Digital team to Core Scientific. Their IP and proven experience in blockchain will enable us to continue enhancing the capabilities of our best-in-class blockchain hosting and application solutions”.

Noah Jessop, Star Digital’s CEO tweeted that 1 plus 1 equals a lot more than two and that the companies have huge plans for the future together.

With a host of announcements lined up, it will be interesting to see whether Core Scientific and Diggy together will churn up more potfulls of sweet honey or not.

Read Original/a>
Author: Sritanshu Sinha

Travel Site Travala.com Partners With Zcoin To Allow Clients Pay Their Hotel Expenses Using XZC

Top blockchain-based accommodation booking firm, Travala.com has revealed that it has teamed up with Zcoin to allow clients to pay for their hotel bookings using the cryptocurrency.

In a blog post, the two firms stated that the move will help enhance crypto tourism as Zcoin holders will have a chance of benefiting up to 40% discounts on hotel bookings made via Travala.com.

Travala CEO Matthew Luczynski said he was delighted to see the partnership go through and that Zcoin will help in enhancing real-world utilization of cryptos and will also drive the adoption of cryptos in the mainstream.

The new agreement is premised on enhancing the use of Zcoin on travel services as well as promote Travala’s AVA Smart program to the Zcoin community. Zcoin community will be able to book for hotel accomodation using the Travala.com platform and enjoy the discounts offered through AVA Smart program. To promote the partnership, Zcoin community will be offered 5% of Zcoin back on all bookings transacted using Zcoin. The promotion is available until &th October 2019.

The partnership will allow Zcoin community members to access accommodation points in more than 90,000 destinations offered by Travala.com. In a tweet by Zcoin, the startup said that its community can have access to more than 1.7 million hotels worldwide.

Zcoin COO Reuben Yap explained that one of the top priorities of the firm is to ensure Zcoin is usable and spendable and the new partnership with Travala.com will go towards fulfilling this wish. According to Yap, Travala.com enjoys a wide network around the world and the partnership will enhance the freedom of using Zcoin.

Travala.com now offers 17 crypto payment options and has been a major advocate for a widespread crypto acceptance and adoption. The firm also offers the conventional types of payments like credit and debit cards as well as online payment model, Paypal.

The company has accommodations in more than 230 countries and territories and Zcoin community can leverage a wide pool of destinations to choose from.

Read Original/a>
Author: Joseph Kibe

Blockchain Analytics Firm Flipside Crypto Secures $7.1 Million to Study Tokens Economics

A data analytics firm called Flipside Crypto has recently been able to get around $7.1 million USD during its latest investment round. Companies such as the Digital Currency Group and Coinbase Ventures participated in the round, however, the round was led by Mike Novogratz’s Galaxy Digital.

In all of its investment rounds together, Flipside Crypto has been able to raise over $11.6 million USD. The company, which was founded in 2017, has always attracted the attention of the investors and companies such as Castle Island Ventures have invested in it more than once.

The CEO of the company, Dave Balter, has affirmed that Flipside Crypto is currently valued at around $32 million USD and that the company is set to grow from having 14 employees to 21 in the next year due to the success with the funding rounds.

Balter affirmed that the company has devised sophisticated tools that will help it to understand more about the activity and the behavior of stakeholders. With this information, companies would be able to create more effective businesses.

The company has found moderate success in the industry so far. 75 companies are already its customers, however, most of them are still using free services. Only around a dozen companies are using the premium services, which give more insights into the information that is provided. The goal now is to show how its services are valuable so that other companies can invest.

One of the customers, the Algorand COO Sean Ford, affirmed that the company works with Flipside Crypto because they enable them to customize their approach to analyzing data.

Read Original/a>
Author: Gabriel Machado

Swizerland’s St. Gallen University to Pilot Program for Storing Diplomas and Degrees on Blockchain

The university partners with BlockFactory, a blockchain based firm to build a transparent and tamperproof system to store academic certificates.

An interview on CNN Money Switzerland on Sept 21 with St. Gallen University’s CIO, Harald Rotter revealed the university’s use of blockchain technology to issue trusted digital certificates. As the problem of fake diplomas and degrees heightens across the world, the university plans to store over 200 immutable certificates next year.

St. Gallen Pilots Blockchain Project on Digital Certificates

The University is aiming to be the first higher education institution to offer digital certificates in the country. IN a report by UNESCO, over 200,000 fake diplomas exist as the issue of educational fraud takes root in various societies around the world.

The university started the project in early 2018 and is ready to pilot the blockchain, built on Ethereum, to authenticate and verify over 200 academic diplomas. Harald said,

“I saw that it could be necessary and it could be a valid use case to transfer or to make easier to validate our diplomas based on a digital process on blockchain.”

Universities around the World Adopting Blockchain

Educational institutions around the world are looking to develop blockchain solutions to store academic certificates. In April this year, nine universities including Netherlands’ Delft University of Technology, the University of Potsdam’s Hasso Plattner Institute in Germany, the MIT and the Harvard University, Division of Continuing Education, Mexico’s Tecnologico de Monterrey, UC Irvine, UC Berkeley as well as the University of Toronto in Canada, have partnered to launch a blockchain solution for academic certificates.

University of Malaysia also announced the E-Skrol, a dApp built on NEM blockchain that aims to reduce the cases of fake degrees within the country.

Read Original/a>
Author: Lujan Odera