Verizon Awarded New Patent To Create Virtual SIMs Using The Blockchain

The telecom giant Verizon has just won an important new patent. The patent is related to a new product of the company that will be used on using the blockchain to create SIM cards in a much more dynamic way.

According to reports, the patent describes how to replace a SIM card by a virtual one, which would be secured using the blockchain technology. A blockchain record would be created on the blockchain for the vSIM and a certificate would be created. After that, the vSIM number would be linked to the person’s account and activated via smartphones.

Verizon would have nodes that would be used to create a distributed network that would prevent the system from being attacked or tampered with. According to the company, the technology would be protected by a hash three structure and all the data would never be altered, as the blockchain is immutable.

One of the main attractions of the technology, despite its security, is that the vSIM number could be used by more than a single phone at a time. The number could even be temporarily linked to other users for some time and then revoked. This would make the vSIM technology much more malleable than the one that is being used today.

The patent states that with a single implementation, the users could accept new vSIM certificates, transfer them and deliver certificates to other users. A company could, for instance, buy several numbers, assign to employees and then later re-assign these numbers to other employees later.

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Author: Gabriel Machado

Following Patrick Byrne’s Exit, Overstock Will Change Former CEO’s Crypto Dividends

Overstock, a giant of the retail industry, has recently decided to drop the originally intended restrictions for its digital dividends. This happened because of trouble with the former CEO of the company Patrick Byrne.

Byrne left the company after a scandal which was said to involve a romantic affair with a Russian spy. However, before he left his position, he arranged so that the dividends of the year would be paid using a digital security listed on the company’s subsidiary tZERO.

Now, however, as he left the company, Overstock decided that it was better to restructure some of the ways that dividends would be paid in order to make the experience more seamless. In order to do it, the company has put the dividends on hold. Overstock will need time to set everything right, though, which is why the decision of freezing the assets for the moment was taken.

According to the official statement of the company, Overstock is working with the authorities in order to provide more liquidity and to structure the dividend shares in a way that they bring the most benefits to investors.

Originally, part of the dividends were paid in the way that the Byrne was structured, was to make short sellers move away from the firm. Byrne believed that people were shorting Overstock. Initially, as he presented the new payment structure, the price of the shares went up. However, after that, they went down again as some banks started to accept them.

Now, the company is working on the restructuring of the whole system to cater to the needs of the investors.

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Author: Gabriel Machado

Binance’s USD-Pegged Stablecoin In Partnership With Paxos, BUSD, To Start Trading Next Week

Crypto exchange giant, Binance, has today announced that its Dollar backed stablecoin will be available on its platform for trading next week on Sep 16 and several BUSD trading pairs will added the same day.

The new date to roll out the new coin as well as its listing was announced by Wei Zhou, Binance CFO as well as Co-Founder and CEO Asia of Paxos Trust Company, Richmond Teo.

Teo said that the coin will offer more stablecoin trading options for Binance clients. Teo continued that the Binance US dollar will be available for trading on Sep 16 against some trading pairs like BTC, XRP and BNB.

According to CoinDesk Paxos Trust Company already has its own dollar pegged and gold pegged stablecoins and at the start of this month, it was awarded extra licensing by the New York State Department of Financial Services (NYDFS) to offer BUSD.

According to Zhou, introducing a stablecoin that is licensed by the New York State Department of Financial Services (NYDFS) is within the exchange’s strategic plan to offer on-chain financial services to its clients from all corners of the world.

While BUSD is licensed by NYDFS, which is a regulator that is famous for stringent crypto regulations, Binance US will not be launched in New York since it has no BitLicence.

Binance has other stablecoins on its crypto exchange platform. In late July, the Jersey wing of Binance created and enabled the trading of a British pound pegged stablecoin known as Binance GBP dubbed BGBP.

Zhou said that Binance is hopeful of creating more compliant stablecoins that are pegged on different fiat reserves in the near future. Zhou believes that many stablecoins in the crypto industry will help in enhancing stability in the crypto space.

The new stablecoin shows that Binance is willing to cooperate with US regulators even as it plans to expand in the US. Binance has already indicated that it plans to be the crypto exchange offering the most crypto tokens in the US.

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Author: Joseph Kibe

LG To Develop A Blockchain Phone To Rival Samsung’s Klaytn And HTC Exodus 1 Smartphones

LG, the electronics giant from South Korea, is working hard to remain competitive and the latest move of the company was to imitate its competitor Samsung and launch its own blockchain phone, local sources told the Chosun media outlet.

According to the local news site, an insider from LG affirmed that the Korean company would respond to Samsung by launching their own phone soon. However, LG is also reported to be hitting roadblocks on the way, as the process is considerably less easy than it looks.

Klaytn Phone, the product launched by Samsung, stole the spotlight recently and will come out with wallet created by Kakao’s subsidiary GroundX. The phone is a Galaxy Note 10 variant that costs $1,000 USD and was specifically created for the local markets.

Before the launch, Samsung had already dipped its toes in the market by launching the Galaxy S10, which had some crypto options such as wallets but was not a fully developed blockchain phone yet. The phone could also download some decentralized applications (dapps), too.

This could, according to the experts, open up the “blockchain smartphone floodgates”. Several companies are bound to imitate the move and this may popularize this market, which is still pretty niche.

Another important doubt in the heads of the investors right now is whether the launch will be only local or global. The Klaytn Phone will be only launched locally at first, as it is an expensive and complex product and it does not seem that LG believes that it is ready for the global market right now.

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Author: Hank Klinger

Leading Blockchain Wallet Provider Secures Another $50 Million To Invest In Crypto Startups

The crypto wallet giant Blockchain is currently trying to raise venture capital funds, according to reports from Yahoo Finance. According to inside sources cited by the media outlet, the company is currently looking to raise as much as $50 million USD.

There are also indications that this money will not be necessarily used for the development of technology, but for the creation of a crypto fund. Yahoo checked out Sam Harrison’s profile on LinkedIn and affirmed that not only he’s listed at Blockchain, but also that he is involved in Ventures, a new venture capital segment of the firm.

In this new fund, Blockchain would look for partners that interested it and invested in them. According to the reports, some companies may have already received some money from the company, such as Nodle, Origin Protocol, and Coindirect.]

It will probably not be too hard to raise the funds. In over four years, Blockchain has managed to raise over $70 million and become a pretty profitable company. The company’s Series B investment round alone was able to raise $40 million. To go from that to $50 million is just a natural evolution.

Blockchain is not only investing in the fund, though. The company has continued all of its normal services with the wallet, which has been downloaded over 41 million times so far. Recently, Blockchain has also created a new exchange, which was called The PIT. Another development was that Blockchain created its first hardware wallet last year.

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Author: Bitcoin Exchange Guide News Team

Ex-Coinbase Executive To Lobby For Facebook’s Libra and Its Blockchain Policy

Facebook is trying to approve its new Libra projects at all costs. Now, the social media giant has started to hire several lobbying firms to influence U. S. lawmakers to approve its newest token Libra.

FS Vector was the latest of the advisory companies hired by Facebook. The company will lobby with the Congress for the approval of the token and John Collins, who was the former head of policy of Coinbase, will be the one leading the Facebook account.

Before working on Coinbase, Collins was a part of the U. S. Senate Committee on Homeland Security, so he probably has some important contacts in Washington, something that Facebook would certainly use.

This comes at a time in which Facebook is striving to appease regulators and lawmakers. Maxine Waters, a Democrat from California, for instance, has recently talked with the Libra Association and affirmed that she was still unconvinced about the plans of the social media giant for its token. This opinion is shared by many regulators around the world.

In order to clear the air and get some allies, Facebook has started its hiring spree. Several lobbying firms were hired before FS Vector entered the team. According to reports from the news site Politico, Facebook had spent at least $7.5 million with companies such as Cypress Group and the Sternhell Group before this month.

Other companies that were also hired by the company include Off Hill Strategies and two law firms, Bryan Cave Leighton Paisner and Davis Polk. Now, we have to wait and see if all this effort will pay off or not.

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Author: Gabriel Machado

Samsung-Backed South Korean Blockchain Blockco Raises $7.5 Million

Blockco, a South Korean blockchain company that was backed by the tech giant Samsung has managed to raise $7.5 million recently during its latest Series B+ funding round.

According to the company, the round was led by the Shinhan Bank, one of the largest forex banking institutions in the country. Other prominent investors included the KEB Hana Bank and the Korea Exchange Bank. An entertainment company called Dadam Game and a healthcare venture capital firm called LB Investment also participated in the round.

Most of these companies are investing in projects of their own. The KEB Hana Bank, for instance, is a part of a blockchain consortium, while the Shinhan Bank is creating its own stocks platform based on the blockchain tech.

The CEO of Blockco, Kim Won-beom, has affirmed that the company will showcase several blockchain solutions soon, especially in the smart grid field. According to him, this area has found hard times while trying to implement an effective business model and it is still lacking.

Blockco has a quite successful story. The company was founded back in 2014 and it received around $1.2 million from Samsung back in 2016. After that, the company has managed to launch two products, a blockchain-as-a-service platform called Coinstack and Aergo, which was a blockchain for private enterprises. The first project was launched in 2015 and the second one in 2018.

This company has been a part of the development of NexLedger, which was created together with Amazon Web Services and Samsung. NexLedger was released in 2017.

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Author: Gabriel Machado

Overstock Blockchain Company tZero Launches New Security Token ‘TZROP’

tZero, the blockchain subsidiary of Overstock, the retail giant, has recently launched its TZROP tokens, which will be equity security tokens. With the token, the holders will have a way to get profits from the company.

What is more interesting is that the token will be available for both accredited and non-accredited investors, meaning that people who are not rich will also get a shot for investing in the new crypto product.

If you hold the tokens, you will get 10% of the company’s profit quarterly. The 10% will be equally divided by all the tokens and people will get an equivalent amount of money. The idea is that this could put small investors in touch with the profits of the company.

However, in order to really sell the tokens, the company is still awaiting the final approval, which will need to pass the Board of Directors and the law requirements of the state of Delaware.

Interestingly, the dividends can be paid not only in USD but also with cryptos such as Bitcoin (BTC) and Ethereum (ETH).

tZERO’s CEO Saum Noursalehi affirmed that the new security token is an important milestone in order to turn the capital market into something more democratic. According to him, non-accredited investors are generally not able to be a part of these investments, which excludes them from the market.

With this new offering, he believes that the market will continue to be properly regulated at the same time that more people will be able to invest in it. This will create more liquidity for everybody and also more wealth to people who simply were not able to invest in this profitable market before.

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Author: Bitcoin Exchange Guide News Team

Kakao’s Blockchain Affiliate GroundX Teases New Cryptocurrency Wallet Klip

Kakao Corp, an internet giant from South Korea, has recently teased its newest product, a crypto wallet called Klip. According to the announcement, the wallet will be created by GroundX, one of the subsidiaries of the company.

The idea is to use the wallet in order to store Klaytn tokens, which were created by Klaytn, one of Kakao’s partners. The mainnet of the company went live two months ago and this is part of a move to make it more popular.

According to the teaser that was released on Kakao’s site, some partners of the initiative are News1 Korea, Pebble, Airbloc and the Spin Protocol.

The CEO of GroundX, Han Jae-Sun, has affirmed that the company already has over 50 million users from all over the world. These users will all have access to the wallet, which will be integrated into Kakao’s messaging app. This is seen as something that will certainly boost the effectiveness of the launch.

A recent report made during the launch of the Klaytn mainnet, the market value of the tokens based on Kakao’s technology is around $64.8 billion USD. Kakao is currently planning to have a total of 34 decentralized apps until the end of the year, too, which will boost its current numbers and market value.

An ICO On The Way?

There are some indications that Kakao may be planning another Initial Coin Offering (ICO). The company had its ICO a few years ago and it was able to get $90 million USD at the time.

Recently, however, Kakao announced that it was planning to raise $300 million USD more to develop Ground X’s token. Since the company has headquarters in Japan, that may be possible. Korea has an anti-ICO policy, so it would certainly be more difficult to have the sale there.

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Author: Hank Klinger

IBM And Indian Telecom Firm Tata to Become Part of Hedera Hashgraph’s Governing Body

Technology giant IBM and the Indian telecom company Tata Communications have recently announced that they would be a part of the Hedera Hashgraph, a blockchain network that was created for enterprises.

The blockchain network has affirmed that the presence of these two companies is set to decentralize even more control of the company. At the moment, the company has 31 of its 39 seats for the governing council still open.

Mance Harmon, CEO of Hedera Hashgraph, affirmed that the governance model of the company ensures that no company can consolidate power alone. This is usually done via a checks and balances system that prevents one company from getting all the power alone.

Hedera was created in order to facilitate payments using the blockchain technology and to support smart contracts and file storage. The company was able to raise $124 million USD so far via future token agreements.

The code of the company is fully open for viewing, but it is patented, meaning that it is not open source, only transparent.

According to IBM, one of the most interesting aspects of the network is how private networks can be used to interact with public networks. The Hedera Consensus Service, for instance, can be used to connect public networks such as the Ethereum blockchain with private ones such as Hyperledger Fabric.

Because of this, IBM is certain that this new technology can be used in order to make its own offerings more effective and well-connected to the rest of the blockchain world.

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Author: Gabriel Machado