Libra Association Head: Facebook’s Crypto Stablecoin Still On Track To Be Launched By End Of 2020

The head of Libra Association, the non-profit organization behind Libra stablecoin project, has revealed that the token will be launched by the end of 2020.

Speaking with a French Media outlet Les Echos, Bertrand Perez, the chief operating director at Libra Association, indicated that the token will be released to the market in the second half of 2020.

Perez maintained that Libra was firmly on schedule and that they have been following with keen interest on the concerns raised by the regulators and other policy makers and influencers. Perez indicated that his team was fully aware of the concerns raised about money laundering as well as funding of terrorism activities and that the association will work closely with the regulators to ensure they are fully addressed.

Libra has come under sharp criticism from regulators across the world and Perez’s interview cam just hours after French Finance Minister Bruno Le Maire had stated that Libra was a threat to consumers and sovereignty of governments across the world. Le Maire has urged EU member states to take a strong stance against Libra.

However, Perez explained that Libra is not going to create fresh supplies of currency through tokenization and does not understand how the stablecoin will be a threat to smooth operations of the central banks.

Perez revealed that Libra stablecoin will be pegged to a number of international currencies such as U.S. dollar (USD), the euro (EUR), Japanese Yen (JPY), British pound (GBP) as well as the Singapore dollar (GBP). He however clarified that the stablecoin will not be tied to the Chinese Yuan.

Cointelegraph reports that China is in the final stages of its own digital currency that will rival the Libra. However, central bank senior officials have been lamenting on the exclusion of Yuan by Libra. The Block reports that earlier this week Virginia Senator Mark Warner cautioned that China may pressure Libra to add Yuan in the stablecoin plans. Warner urged Facebook not to give in and completely exclude Yuan from assets backing Libra.

The Libra project was revealed in mid-June and the crypto’s goal is to serve the unbanked as well as enhance low cost funds transfer in the world.

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Author: Joseph Kibe

Ethereum Co-Founder Joe Lubin Joins Board As ConsenSys Becomes Premier Member of Hyperledger

The co-founder of Ethereum is to join the blockchain development project Hyperledger community. Cointelegraph has announced ConseSys– Ethereum-focused development firm as the premier member of Hyperledger.

Project Hyperledger Besu Already Submitted to Hyperledger

According to the press release by Cointelegraph, ConseSys has already submitted the Pantheon Java-based software to Hyperledger. The project was named Hyperledger Besu as the first blockchain compatible with the public chain submitted to the project.

Brian Behlendorf the director of Hyperledger said that through the submission of Hyperledger Besu, ConsenSys is supporting their intended mission. Brian anticipates building a wide coalition for improving enterprise blockchain.

Improved Interoperability Across the Blockchain

Now that ConseSys is a member of Hyperledger, it is planning to explore interoperability all through the blockchains. As the latest member of the Hyperledger community, ConseSys will support the interoperability between blockchain. This will help support the enterprise blockchain environment by driving standards. Brian commented on the benefits that would come with the collaborative network in the environment. The more members they have networking and working together, the stronger the foundation will be.

According to Ethereum Cofounder Lubin, ConseSys and PegaSys are committed to open-source software and this has already been demonstrated by Hyperledger Besu’s submission.

Hyperledger has over 270 members spread across different industries including IoT, Banking, Supply chain, Finance, manufacturing, and technology. 22 premier members have been included by the governing board ConseSys being one in the list. On top of that, Joseph Lubin becomes a member of Hyperledger governing board.

ConseSys is now an active and committed part of Hyperledger family, plays part as an open-source, and gives the open governance approach to the blockchain. Behlendorf said that the more the members in the community, the stronger the foundation they will build for the blockchain.

Brian agrees that the software is with no doubt of great impact on his company and they are looking forward to more members working together.

According to Cointelegraph report in July, semiconductors manufacturer Intel in collaboration with technology Behemoth has co-sponsored for a new programming project by the Hyperledger development firm.

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Author: Daniel W

Breez Enables Credit Card Use When Buying Lightning-Powered Bitcoin Now

Breez, a new payment startup, has recently unveiled the latest feature of its project, which is set to allow lightning-based BTC purchases directly from its app. These purchases are only possible because of a recent partnership that the company started with MoonPay.

The services will initially be available in a total of 35 different countries and have the goal of simplifying lightning payments.

In case you do not know, the Lightning Network is a layer 2 scaling solution for the BTC network. It was launched at the beginning of 2018 and it has gone quite a long way so far in fixing these problems despite a rocky launch. The technology is still experimental, but it is starting to shape up as a great solution.

According to the CEO of Breez, Roy Sheinfeld, this may even look like a somewhat simple achievement, but nobody has done it before.

Since the start, Breez was always about being more than a simple wallet, the service was meant to be a “holistic experience”, Sheinfeld affirmed. It needs to be UX focused and to provide solutions that no one has been able to provide before in order to make its clients happy.

Before now, the users needed to buy BTC before they could enter the Lightning Network and then move the BTC from its normal wallet to an LN wallet. This new option cuts time and allows the users to enjoy a more streamlined experience.

According to Sheinfeld, users will not need to verify any information if they want to buy less than 150 EUR worth of BTC. To buy more than that, they would need to pass a Know Your Customer (KYC) verification first.

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Author: Gabriel Machado

Telegram Releases Its Blockchain (TON) Testnet Node; Public Beta Set To Launch On Monday

Telegram’s blockchain project, Telegram Open Network (TON), is on the verge of launching its main net following the release of its test net node software and blockchain explorer on Sept 5. The messaging app released its implementation code on its test network website earlier on Friday providing users with a node, validator node, and explorer. Telegram’s blockchain is designed as a proof-of-stake protocol with the support of multiple

“shard chains.”

The official launch of the test net was scheduled for September 1 but due to unconfirmed reasons, the company delayed the release. Now users are in access of the nodes allowing them to test the validation and authentication of transactions on the TON network. The public beta release is expected to be launched on Sept 9. As confirmed by Mitja Goroshevsky, CTO of TON Labs. He said,

“Source code for a full node that can access test net, create and validate blocks has been released. Lite client was released several months ago. TON Labs will release Public Beta of its developer tools suite on Monday.”

Telegram raised its private initial coin offering during the past one year selling tokens worth a total of $1.7 billion USD. The Telegram tokens (GRAM) are set to be launched in the coming month as reported earlier.

Telegram Embracing Crypto

The messaging app is showing affinity to crypto with the latest TON project release. Furthermore, the app is planning to introduce Bitcoin transactions on the app, opening a gateway to over 300 million users to the cryptocurrency world.

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Author: Lujan Odera

Facebook Eyes a New Blockchain Policy Expert In Africa To Enable Crypto Payments With WhatsApp

While the whole work is looking at Facebook’s new project Libra, Facebook is looking at Sub-Saharan Africa. According to a recent job opening, the company is looking for a policy expert in Africa that could ensure that payments are made in the countries of the continent using WhatsApp. While the job posting does not mention Libra, it is expected that the job will have some relation to it.

Libra will let Facebook allow crypto transfers using WhatsApp, so it is likely that the company will be used for this. The company declined to talk about the subject when reached out by media outlets. The position is for Johannesburg, in South Africa.

WhatsApp was originally acquired back in 2014 by Facebook and it is the most popular messaging app in the continent. Mobile ways to use money are very popular there, so it can surely be a fertile ground for Facebook.

At the moment, Facebook is struggling to have the Libra token approved in the U. S. and Europe and some countries such as India and China will probably ban it, so looking at Africa is far from a bad idea. If the deal goes sour there, at least the company knows that it can have a pretty active market in a continent where the legislation may not be so harsh with the initiative.

Right now, Facebook is filling in several positions for people to work towards creating its cryptocurrency. The launch is expected to happen in 2020, so the social media giant is making a huge effort to create a strong product and to convince regulators to let the launch happen.

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Author: Gabriel Machado

Facebook’s Libra Continues To Receive Worrisome Outlooks From Global Finance Regulators

Facebooks-Libra-Continues-To-Receive-Heat-From-Global-Regulators

Libra, the cryptocurrency project headed by Facebook and the Libra Association, is getting heat from several privacy and data protection regulators around the world. According to recent reports made by The Block Crypto, regulators from countries such as the United States, Canada, United Kingdom, Australia and the European Union are all concerned about Libra and its possible effects.

These regulators believe that Facebook has obviously failed to answer their concerns about how it handled data privacy in the past. With the advent of Libra, things are bound to take a turn for the worse.

The company has plans for rapid implementation of the product, but it does not seem to have a great plan on how to keep the information from the clients private. The Libra Association and Calibra will become custodians of the personal information of several people after the product goes live, so these issues need to be addressed before the official launch.

In order to stop the issue before it exists, the authorities have urged the Libra Association and its Facebook relatives to detail more about how the information will be kept.

Not all regulators are necessarily anti-Libra, but the security breaches that it may cause are basically unanimous for the regulators: they want a solid plan or Libra will face even more heat before its launch (if the launch indeed happens).

Facebook is now preparing by… hiring lobbyists. Susan Zook, a former aide of Mike Crapo, was hired by the company recently in order to protect its interests. Unfortunately, it simply does not look like Facebook has a great plan for handling the private information or the company would simply present it instead of hiring more lobbyists.

[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: Bitcoin Exchange Guide News Team

V SYSTEMS: Sunny King’s Proof of Stake VSYS Blockchain Finance Project

V SYSTEMS

What Is V SYSTEMS?

V Sytems (VSYS) is a blockchain-based database cloud project that aims to develop a secure underlying infrastructure platform for blockchain database. The project aims to deliver decentralized cloud database technology to conduct complex decentralized applications and support the operation of trillions of blockchain effectively with high scalability, durability, and performance.

V Systems focuses on database and cloud services. It also aims to create a secure underlying infrastructure platform for blockchain the new technology—Supernode Proof-of-Stake (SPoS) consensus algorithm. With this innovation, V Systems blockchain can deliver decentralized cloud database technology with high scalability, finality, durability, and performance that is practically resistant to 51% attack.

Support For Multiple Applications

V Systems network can equally support efficient and agile development of a vast majority of applications including Decentralized Finance (DeFi), social media, entertainment, and many more. The V Systems mainnet and supernodes were launched in November 2018 and the VSYS coin is already listed on more than 10 top exchanges including Bitfinex and ZB since the beginning of this year (2019).

Currently, the V Systems mainnet has 15 supernodes operated by exchanges, wallets, as well as staking communities. Thousands of VSYS coin holders are already invited to take up the role as minters through coin leasing, which contributes to a total staking value of nearly USD $345 million and it continues to grow.

V SYSTEMS Benefits

Decentralized Database and Application

V Systems believes decentralized and scalable database and applications with blockchain technology are in high demand for private and public use cases. The platform provides customized solutions for businesses across various industries with secure and performing decentralized cloud platforms.

Blockchain development platform

V Systems provides development platforms for application developers to instantly create blockchains. Besides, the platform has a modular structure that supports multiple consensus algorithms.

User-friendly Blockchain Creation

V Systems blockchain development platform makes the technology as user-friendly as possible and greatly ease the burden for developers while exceeding project requirements.

Supernode Proof of Stake

The Supernode Proof of Stake (SPoS) consensus is a fresh innovation by Sunny King. The V Systems operates upon this major pillar. The following are its key features:

  • Stable and secure: Performance-oriented consensus mechanism that ensures stable and fair development of the blockchain ecosystem, and is practically resistant to 51% attack.
  • Self-governance: The cold minting function and stake liquidity enable users to have full control over their own VSYS Coins and private keys.
  • Scalable: SPoS is designed to be functionally upgradable to accommodate the increasing number of supernodes and further shorten the block creation time.

What is VSYS Coin?

VSYS Coin is the native currency for the V SYSTEMS blockchain platform with a multitude of uses including transactions, staking, and minting on the network. VSYS Coins can also be used to access a vast variety of applications built on the V SYSTEMS network.

Official Wallet by the VSYSTEMS Team

V SYSTEMS mainnet offers both hot wallet and cold wallet in order to provide the best security solution to store your VSYS Coin. Feel free to download the wallets.

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Author: Bitcoin Exchange Guide News Team

South Korean Blockchain Icon Project Launches Fee 2.0, a New Transaction Fee System

South-Korean-Blockchain-Icon-Project-Launches-Fee-2-0

South Korean based blockchain project Icon, on July 15 launched its FEE 2.0 platform, that allows Dapp developers pay users’ fee, while also giving them the privilege to stake tokens into the network in order to gradually pay fess in virtual steps.

A Whole New Development

The new and upgraded Icon Fee 2.0 allows the users to access Icon’s decentralized application services without any form of transaction fees. The firm announced the new development via a business platform Finance Magnate, who helped in amplifying the news.

Announcing on social media platform Twitter, the firm tweeted:

We are pleased to announce that MaiNet update is competed today to support Fee 2.0 system. Now ICONists can use virtual step on ICON MainNet.

Prior to the launch of this revolutionary development, Icon dApp users were obligated to pay a form of transaction fee in cryptocurrency from the moment they began using the dApp’s services.

The process of paying a certain amount before accessing Icon’ s dApp services limited the number of people who had the privilege to it because it was basically for some set of people who had a certain amount of cryptocurrency at their disposal.

Stating the motive behind the latest update, a council of Icon foundation Min Kim explained that the new platform was launched with the intention to create an environment in which more

dApps will be actively operated and used and the expansion of the ICON’s DApp will ultimately be realized.

Payment is Now Optional

Although the latest update has abolished all manner of transaction fees, this does not mean that they will no longer be paid, the latest update on the network makes it possible for others to pay them.

The new and updated icon platform has also created a way in which bills can be paid even if they don’t have the funds right away. The new Virtual Step by Icon is one in which dApp operators pay their dues with funds raised through the process of staking ICX.

To accomplish this, the dApp operators must deposit ICX tokens into their dApp smart contracts for a certain period of time in order to earn their Virtual Steps.

A statement from the company reads:

‘’ Virtual Step is generated every month in proportion within proportion with the quantity of ICX deposited and the duration of the deposit.’’

Popularity of Dapps

Although it is not crystal clear whether the new Icon Fee 2.0 will break boundaries in the Crypto market, it is evident that dApps are becoming more popular in and around the cryptocurrency community

Evidently, the entry of Waves into the dApp’s sphere and the creation of a software development kit for dApps last week by the biggest maker of mobile phones in the world Samsung speaks volumes about the acceptance of dApps.

The popularity of Dapps is not a sudden move, Bitcoin Exchange Guide reported last year that research proves that both Ethereum and Eos have eight dApps and over 300 active users combined

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Author: Ogwu Emma

Chinese Bitcoin Investors And Entrepreneurs Consider Regulations as Highly Important for Market Involvement

Chinese Bitcoin Investors And Entrepreneurs Consider Regulations as Highly Important for Market Involvement
  • Facebook has recently released the Libra crypto project and many companies are analyzing it
  • Other large tech firms would also like to work on similar projects under clear regulatory environments

Everyone is talking about Facebook’s new crypto project Libra and the influence that it can have on the market.

Pony Ma (Ma Huateng), the CEO of the multinational investment holding conglomerate Tencent, said that regulations are important for companies to release their own digital assets such as Facebook did. Changpeng Zhao, the CEO of Binance has also given his opinion about it.

China Needs Clear Regulations

The Twitter account @CnLedger, quoted Pony Ma, the founder of Tencent, commenting about Facebook’s Libra project. About it, he said that the technology is very mature and that it depends on whether or not the regulation allows to implement it.

This is very important, considering the Chinese government has taken very hard measures against Bitcoin traders. At the same time, there were some rumours spreading on the internet about the possibility to ban Bitcoin miners in the country.

Changpeng Zhao, the CEO of Binance, decided to comment about what Mr. Ma mentioned and the regulatory environment. Zhao said that countries should encourage their tech giants to issue their own cryptocurrency token.

He went on saying that Libra will increase US influence abroad and compared the effects that a cryptocurrency launched by Tencent or WeChat would have in the market. He has even asked what would have happened if these companies issued a token before Facebook.

Binance is one of the largest cryptocurrency exchanges in the market in terms of trading volume. However, the company was not able to find a good place where to settle its operations. Now, the exchange is working with regulatory agencies in Bermuda, the Bahamas, Malta or Estonia.

At the moment, countries have to create proper regulations regarding virtual currencies and blockchain technology and how to deal with them. That means they must establish the rights and responsibilities of firms operating in the space and investors.

For example, in the coming weeks, Russia is expected to announce regulations for virtual currencies and Initial Coin Offerings (ICOs). The decision to do it now is related to the fact that the FATF is trying to implement global standard regulations for digital assets. However, Russia’s plans to introduce regulations to the crypto market have already several years.

Switzerland and Malta have also been working very hard in order to attract a large number of investors in the cryptocurrency market. Indeed, several firms located their operations in these jurisdictions, allowing them to have clear regulations and protect investors.

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Author: Carl T

Blockchain for Corporations and Governmental Agencies: Waves’ Vostok Mainnet Launches

  • The latest Vostok project by Waves’ development team is aimed at making blockchain technology more accessible to a wide range of users.
  • Government agencies and businesses will be able to leverage the benefits provided by this new platform.

The Waves Platform announced the successful mainnet launch of the Vostok project on the 6th of June. The launch signifies the birth of a blockchain service aimed at providing blockchain solutions for both public agencies and large corporations. The goal is to provide such organizations with scalable digital infrastructure.

What is Vostok?

The Vostok project which exists within the Waves ecosystem was first mentioned by Alexander Ivanov, the founder, and CEO of the Waves on the second anniversary of the blockchain platform. Roughly a year later, the Waves team of experienced developers and business experts has delivered the blockchain solutions project tailored to suit governmental agencies and large corporations.

According to the announcement, the Vostok project is a part of the founder’s “broader work of making blockchain accessible to every individual or organization interested in its profitable use.”

In other words, this is Waves delivering yet another useful blockchain tool for users.

Users Will Be Able to Make Transactions Using New Vostok Token (VST)

It was added that Vostok was also created to meet “the growing demand from large enterprises and state institutions that would like to adopt Distributed Ledger-based solutions.” Vostok is well suited for organizations that need distributed ledger solutions but do not wish to build them on their own.

The newly launched network comes with a token known as the Vostok token (VST). Users will be able to make transactions as well as create smart contracts on the network using the Vostok client.

There are three different ways through which users can participate on the Vostok network. First, users can integrate into Vostok’s public infrastructure. This requires administrator permission and can be done using the Vostok mainnet. Users can also build an independent blockchain infrastructure with assistance from the Vostok integrator at a cost. Finally, users who wish to improve the reliability of their independent networks can create a hybrid blockchain ecosystem.

Patronage of Vostok So Far

It was reported that the Vostok project has already attracted the interest of various stakeholders. Partnerships with institutions such as Rostec (Russian state corporation focused on the production of arms), Sberbank, Transmash Holding (railway machine manufacturers) and Vneshekonombank (Russian owned development bank) have already been secured.

Information from the official blog of the Waves platform also revealed that there were collaborations with housing company DOM.RF and the Nizhny Novgorod government prior to the official launch of the Vostok mainnet.

The Waves team was excited to present their new enterprise-ready blockchain solution to the general public. The mainnet launch is expected to allow government agencies and large corporations to take advantage of the service to meet their blockchain technology needs.

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Author: Omar Faridi