Cindicator, the hybrid intelligence company recently introduced Edge, a new web-based application that can be used to receive and track indicators for more than one hundred and fifty cryptocurrency assets.
Estimating Possibilities In The Marketplace
According to information provided in a blog post published on September 11th, Cindicator Edge, the new product is targeting CND (Cindicator) token holders. At the moment, only the demo version has been provided by the company.
The new product is aimed at helping the token holders to make valuable trading decisions by being able to estimate probabilities of numerous events that are likely to occur across more than 150 digital futures, stocks, and assets, this according to the official company announcement.
For users to be able to receive the indicators on a real-time basis, they will be required to ensure that they have connected the application to their ETH wallet address. When the connection is established, it will help to unlock a maximum of 12 indicators each week.
Vlad Kazakov who is the current owner of Cindicator Edge stated that the product was tested with about four hundred users prior to the release of the demo. In the tests, it was found to work well with many of its testers giving it a positive review.
Partnership Agreement With Kyber
In the announcement released via the blogpost, Cindicator also mentioned that it had entered into a partnership agreement with Kyber. Kyber is a payment service and an-chain liquidity protocol that facilitates the automatic conversion of cryptocurrency assets. This partnership made it easier for the application users to integrate their CND tokens into the other readily available tokenized environments.
Kyber additionally provided the application’s users with options to help them acquire CND tokens directly from the Edge application. This means that users did not have to go back to an exchange for them to transfer their available tokens to the external wallet.
This news comes in the heels of the CND tokens being listed on the Kyber Network. The listing occurred on August 13th, 2019 and was formally announced by Cindicator. CND had earlier in the year been listed on Allbit.
Author: Daniel W
Coinbase has introduced a new initiative dubbed USDC Bootstrap Fund and just as the name suggests, the firm intends to boost developers with a fund in terms of USDC tokens.
In a blog post, the crypto exchange said that the new fund will be used to enhance developments of decentralized finance (DeFi) protocols. The new initiative ‘USDC Bootstrap’ will only invest in DeFi based projects using its stablecoin USDC.
DeFi is a relatively fresh concept in the blockchain sphere which can be described as the conventional financial products that you could get from a financial institution like lending or derivatives that have been developed on top of a blockchain. In other words, DeFi protocols consist of smart contracts that are governed by codes and the protocol on which they’re built on.
CoinDesk reports that after several deliberations with DeFi platform developers, the exchange says it realized that liquidity or availability of funds to borrow was one of the urgent needs for DeFi based initiatives. The exchange hopes that through grants, it will boost the development of the DeFi ecosystem.
To kickstart the initiative, Coinbase announced that it was investing 1 million USDC each in Compound as well as dYdX. However, unlike the Coinbase Ventures where investments are made in startups for an equity stake, the Bootstrap fund is designed to add to a protocol’s lending pool where interest will be returned after counterparties borrow from it.
Zhuoxun Yin, dYdX operations head, the most challenging aspect in the development of a new DeFi protocol is attracting borrowing demand. however, the addition of USDC to the lending pools will help to lower the interest rates and embolden clients to borrow more USDC.
Head of Bootstrap Fund Nemil Dalal explained that boosting lending protocols will help in the growth and development of DeFi, which is an area of much interest for Coinbase. In the recent past, Coinbase venture also invested in different DeFi protocols such as Dharma and BlockFi. Dalal explained that Coinbase was interested in enhancing decentralized finance within the banking industry.
Author: Joseph Kibe
- 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.
Author: Krystle M