Webjet Debuts New Hotel Booking Verification Blockchain based on Microsoft Azure

Webjet, a leading digital travel agent is excited to launch its blockchain platform with an objective of eliminating the existing disparities in hostel booking processes and data. The new project, Rezchain, is an application that will help address overcharges and reservation snafus in hotel booking by tracing data mismatches between booking agents, hostels and customers.

According to the company, such errors occur in about 5% of all hotel bookings. The application will send alerts to the interested parties if any are found. Such errors cause many firms to suffer financial resource losses. Besides the financial exposures, the reconciliation process is painful and time-consuming.

Webjet was launched two decades ago in 1998 as an online travel agent company operating in North America, Southeast Asia and Australia. The company has a project called WebBeds that offers a Business-to-business accommodation online platform.

“Mistakes should be expected from multiple IT systems that speak different languages. Writing off debts remains as the last resort whenever the situation is not clear. That has been a cost of doing business for decades, but the industry does not have to suffer from that anymore,”

said John Guscic, the managing director at Webjet.

Webjet believes it will leverage blockchain technology distributed nature by employing early warning systems via Email and a “virtual handshake”. Rezchain will store information in a shared ledger which will give all parties interested in online booking access to timely information. The application has been built on what we can refer to as a private version of Ethereum.

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Author: Denis Miriti

Nervos Network to Launch Lina Blockchain After Securing $72 Million In Token Sale on Coinlist

Nervos Network, a blockchain startup, has announced the launch of Lina Blockchain. The startup is planning to launch its new project next week. Lina Blockchain will secure about $72 million from token sales of Coinlist. Miners and developers will have an opportunity to participate and utilize the company’s network on November 16. Nervos Network has the backing of Polychain Capital, Harshkey, Blockchain Capital, China Merchants Bank International, MultiCoin, and Distributed Global all in support of its efforts.

“The mainnet will allow users to develop applications on the blockchain without having to face a tradeoff between security and scalability,”

said Kevin Wang, the Co-Founder of Nervos Network. The mainnet has a two-layer structure where users build applications on the public layer and running them on the second layer.

Nervos Network was initially targeting to raise about $50 million for its network and exceed that amount in a three-week sale. The company has, however, declined to disclose the specific amounts of investments made by major investors.

With Nervos Network’s new CKByte token, users can access the blockchain’s storage space. This serves as a resource management tool as well as an incentive mechanism for miners. The token’s public offering statement shows that Nervos Network can use 23.5% of its initial token supply to encourage business partnerships and open source contributions.

Last year alone, Nervos managed to secure $28 million in funding. According to Wang, the fundraising was a private sale. The fundraising round was led by Sequoia China, a private equity, and Polychain. The fundraising guarantees a 14% initial token distribution for investors this year. The company will use the proceeds to incentivize more developers and miners to use the network and invest in research aimed at improving the network.

According to Wang, the company’s mainnet can serve as the technical infrastructure for various uses, from asset tokenization to a platform for decentralized finance. Even before the launch of the mainnet, Nervos had developed applications for China Merchants Bank International. After the launch, the company will work with more financial institutions to develop Defi applications.

Some of the team members in the company are among the earliest Ethereum developers in China hence establishing a significant presence in the developers’ community in the country.

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Author: Denis Miriti

Peter Schiff to Max Keiser: Bullish for Gold, Bearish for Bitcoin if China Launches Gold-Backed Crypto

A gold bug veteran Peter Schiff claims that if China decides to launch a digital coin it would not be good for bitcoin. Schiff is well known for his notorious negativity regarding anything bitcoin.

Peter Schiff tells Keiser that Gold betas bitcoin

Schiff thought that the reporter Keiser referred to him as an idiot since Schiff thought gold is a better currency than bitcoin.

He also repeated his usual remark on bitcoin showing that bitcoin lacks intrinsic value. His usual remarks that Keiser has claims that China will launch a cryptocurrency backed by gold. In his statement, Schiff thinks that if that happens, it would be bullish for gold and bearish for bitcoin. Schiff also adds that a crypto backed is better than the one backed by nothing.

Keiser, however, has not responded publicly to Schiff’s remarks rarely seen on social media sites lately.

Hints on gold role

Cointelegraph has reported that China is making efforts to create the DCEP currency in the rise of Facebook’s token known as Lira.

This backing is rocky with an ex-congress official saying that DCEP would dip into the country’s gold reserve, along with other factors. However, the endorsement of China’s blockchain technology had a positive effect on blockchain markets. This endorsement did not matter since local media has advised citizens not to count on the support as a proof regarding blockchain.

Beijing, on the other hand, outlawed blockchain activities in 2017 despite the rumors that there are some investors using different platforms to gain access.

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Author: BEG News Desk

China’s “Over-Obsessive Control” is the Main Motivation for Its DCEP Digital Currency Initiative

  • The launch of DCEP “is more about politics than technology”

After five to six years of research, China’s central bank revealed few specifics of its Digital Currency Electronic Payment (DCEP) project while a Chinese official finally stated that the People’s Bank of China (PBoC) is likely to be the world’s first central bank to launch a digital currency.

Digital Currency Electronic Payment will be powered by blockchain tech and sent to user digital wallets just like Facebook’s Libra, but would also have features allowing the central bank to use analytics to track just how the currency moves from wallet to wallet. Essentially giving them the power to supervise transactions.

Motivation: Control of Money and Money Supply

According to experts, this is not just financial innovation but also a way to have fail-safe control over its cash economy.

Recently, Huang Qifan, Vice President of China Center for International Economic Exchanges stated that the significance of DCEP is in the replacement of money.

Market observers say the main motivation behind the project is to protect its capital borders in the face of fears.

“There’s a consensus around the world among central bank governors and governments at large that they want to have control of money and money supply and the seigniorage that comes along with it,”

said Keyu Jin, professor of economics at the London School of Economics on the sidelines of a forum in Singapore.

“But over-obsessive control and governance is probably more unique to China than anything else.”

DCEP launch is “More about Politics than Technology”

However, there is no fixed timeline for when the digital currency will be launched.

In the country, there have been few public reactions on the central backed digital currency and a few public discussions on Chinese social media platforms like Weibo have mixed views.

While some say it could prevent corruption others are concerned about their safety and freedom to build wealth.

“Theoretically, with digital currency, you could do away with bank accounts,” a Union pay official told Reuters. “The launch is more about politics than technology.”

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Author: AnTy

NBA’s Sacramento Kings Launch Non-Fungible Cryptocurrency Tokens to Boost Fan Participation

One of the oldest affiliate teams with cryptocurrency in the NBA, Sacramento Kings, announces the launch of their collectible tokens on October 16.

The National Basketball Association (NBA) is witnessing a growing interest in the cryptocurrency space as multiple teams integrate cryptocurrency products to boost fans’ participation. California based, Sacramento Kings, however, are a leg up in the adoption of cryptocurrencies as the management set up miners in the arena in 2018. The proceeds from the Ethereum miners was then directed to the Black Build Charity through a blockchain-based platform.

The NBA basketball team completes its three-peat in the blockchain industry by partnering with CryptoKaiju introducing cryptocurrency collectibles. The partners will develop a total of 100 non-fungible tokens to be distributed to fans during the upcoming 2019-2020 season. The tokens are unique and will be available at the start of the season.

Speaking on the latest partnership with CryptoKaiju, Sacramento’s CTO, Ryan Montoya, said,

“This partnership with CryptoKaiju is an exciting opportunity to continue to employ technology that delivers innovative products and content to our fans.”

Furthermore, Ryan looks forward to fans interacting with the tokens and receiving rewards using its platform. He said,

“We are thrilled to bring these unique, limited-edition collectibles and immersive experience to our fans. We are always looking for ways to be on the leading-edge of enhancing fan interaction.”

Of the 100 collectibles, 15 cards will come with special prizes for the holders including VIP seats at games, courtside seats and signed Sacramento merchandise by the players.

The team announced the launch of their Kings Token, which users can purchase and store in their REC20 compatible wallets. The token is used to purchase from the club’s online stores and club rewards with the team set to develop more incentives and uses of the coin.

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Author: Lujan Odera

EOS Developer Block.One Launches EOSIO 2.0 With Smarter Contracts And Enhanced Security

Block.one, one of the EOS developers, has announced the launch of EOSIO 2.0. According to the press release, this is a new version of the famous smart contract protocol that was used by the company to host dapps and to use its delegated proof of stake system.

The company affirms that the new version of the program comes with several new improvements. For instance, it has a new WebAssembly engine that was created especially to enable the resources to be used in a much more efficient way as smart contracts are processed.

According to the company, the newly upgraded platform offers a performance that is around 16 times better than EOSIO 1.0. This, Block.one affirmed, can greatly change how useful smart contracts are.

Another important improvement that this version will have is the adoption of a new authentication standard called WebAuthn. It will allow the system to use a hardware device to sign and authenticate transactions via browser without needing any EOSIO apps. This, it is believed, will improve the security of the users.

The last improvement is that the developers created a new system that can securely sign blocks using a permission layer that will allow this without sharing any kind of sensible data.

Security is an important aspect in the EOS network, as recently a hacker stole over $110,000 USD from EOSPlay, an EOS gambling app.

Some new tools for developers were released together with this update. They include the EOSIO Quickstart Web IDE, which is currently in Alpha testing phase, a software developed to decrease the complexity of creating apps.

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Author: Gabriel Machado

Binance US Has More Liquidity Than Gemini In Only 9 Days

Binance US, the U. S. based version of the most famous crypto exchange in the world, had a great launch. According to data cited by the CEO of Binance, Changpeng Zhao, the American branch of the company saw its liquidity triple in a single week. In fact, the company is said to have more liquidity than the Gemini Exchange at this point, which is certainly surprising.

Despite the very high levels of liquidity, the trading volume of the exchange is obviously still not very high. The platform came out not even two weeks ago, so it’ll obviously take time until there are enough traders to take on the big exchanges of the market.

When compared to Gemini, Binance US has a daily volume of $2 million against $16 million USD from the exchange created by the Winklevoss Twins.

The comparison shows how far Binance US is when you compare it Coinbase Pro, the institutional version of Coinbase. During a single day, Coinbase Pro has a volume of $152 million USD. The international version of Binance, however, is able to be even more successful, with a daily volume of $740 million USD.

Right now, Binance US has 28 trading pairs. Some of them are based on USD while others are paired against Bitcoin or USDT (Tether).

The company offers Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), Stellar Lumens (XLM), Binance Coin (BNB), Ripple (XRP) and Tether (USDT) as choices. The CEO of the company recently affirmed that more assets would be launched soon.

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Author: Gabriel Machado

China’s Central Bank Affirms That National Digital Currency Has No Timeframe For Launch

China has confirmed its plans to launch its own central bank-based digital currency but does not have a timeframe right now. This is what the local media outlet Global Times revealed after the local central bank, the People’s Bank of China, commented on the situation of the project.

The governor Yi Gang was quoted by the media outlet affirming that the bank still needs to evaluate some of the risks and to make more tests before the asset will be available for the population. According to him, the development of the national currency has moved quite a lot until now, but the country doesn’t have any timeframe for the launch at the moment.

Another deputy director of the bank, Mu Changchun, affirmed last month that the token was ready for launch, so the information is contradictory, to say the least. When we consider that the bank even denied the claims that the project existed some time ago, it is hard to say with some certainty how the project is faring.

Who Will Launch Its Crypto First? Facebook or China?

There is a lot of speculation going around right now on whether Facebook or China will release their token first. Libra has its launch scheduled for the end of 2020, but it is facing a lot of regulatory issues. China, on the other hand, would not face regulatory issues, but we are unsure about how complete the asset actually is.

Whoever takes the lead will have an important headstart in dictating how the world of centralized digital assets will work, despite the fact that Facebook and China will act on very distinct places.

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Author: Daniel W

Swiss Stock Exchange SIX Releases Its Own Prototype For a Crypto Asset Exchange

SIX, a well-known Swiss stock exchange, has recently decided to launch a pilot version of its platform. The prototype, which was launched by SIX Digital Exchange, a subsidiary of the company, is focused on digital assets and to act as a central securities depository.

According to the company, the full launch is expected to happen during the last quarter of 2020 and it will be representative of the future of financial markets. The beta launch, which is happening now, was made to get some feedback from testers before the platform is fully ready for the launch.

The company intends to show to the world that the blockchain can be used to create a central securities depository that will integrate a centralized order book with decentralized technology to create a fair market.

The chairman of SDX, Thomas Zeeb, affirmed that the launch of this project is a major milestone for the creation of the digital infrastructure that is needed to move the industry forward. Initially, the platform will be created to issue digital securities, for live trading and instant settlements. It will also use a structure that is very similar to SIX’s.

Zeeb affirmed that the ultimate goal of the new platform is to use let the users settle their trades instantly with no counterparty risk.

This, he affirmed, will speed things up. If both sides have what it takes for the trade and they want to do it, the settlement happens instantaneously. He also affirmed that the next phase of the project will be rolled out soon.

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Author: Hank Klinger

Binance US Will Be Launched Wednesday, 13 States To Be Barred to Start

The most anticipated launch of the month in the crypto world, Binance US, is set to happen tomorrow, September 18. After a long wait, the exchange will start to accept registrations. Before using the services, you have to be whitelisted, so it may take some time, depending on how many people try to join the service (and we bet that it’ll be a lot of people).

A total of 13 states were barred from using the platform, unfortunately. They include Alaska, Alabama, Connecticut, Georgia, Florida, Hawaii, Louisiana, North Carolina, Idaho, Vermont, Washington, Texas and New York. It was reported, however, that the residents of these states will be allowed to use the platform eventually.

The blog post that announced the launch has also explained that all clients will have zero trading fees until November 1, 2020, and that customers will need a valid government-issued ID with photo such as social security number or passport to be users.

No assets will be automatically transferred to your account, even if you have another Binance account. Binance US will be a fully independent product. Trading can only be started after you had your profile verified and deposit funds.

Initially, users can only buy assets with ACH or wire transfers, but other options are set to be included in the following months. The company will accept USD, BTC, ETH, BCH, XRP, LTC and USDT. All assets will be insured.

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Author: Daniel W