SBI eSports Signs Pro FIFA and Super Smash Bros Ultimate Players; Will Be Paid in XRP

SBI eSports, a subsidiary gaming venture of Japanese financial giant SBI Holdings, has signed two professional players to its e-team. In an official announcement made on 16th October, the SBI e-sports subsidiary also revealed that they would be paying its player’s salaries in XRP.

Back in September, the firm revealed that they were planning on paying their player’s salaries in cryptocurrencies. The official announcement read,

“The company aims to raise awareness of the SBI Group by strengthening contact points with the digital generation, and to create synergies with the various financial services businesses of the SBI Group.”

The payment of salary in the digital token would be facilitated via SBI’s crypto-asset trading division called SBI VC Trade. However, the final decision to accept salaries in XRP tokens would lie in the players’ hands. The official signing read,

“Players will be paid in the crypto asset ‘XRP’ instead of Japanese yen based on the wishes of the player and the sponsorship contract with SBI VC Trade Co., Ltd.”

The two pro players signed by the SBI eSports include one of Japan’s top pros in the Nintendo Switch fighting game, Super Smash Bros, Ultimate player Kenji “Ken” Suzuki, and FIFA 21 player Subaru “Mikey” Sagano, who has represented the German soccer club 1. FC Nürnberg.

The signings made by the SBI e-Sports is one of a kind because of the digital asset salary clause, which was not only highlighted in the official announcement but also in the personal tweets made by the signed players.

SBI to Conduct a Security Token Offering for SBI eSports

The SBI Group is also set to conduct a security token offering for the eSports subsidiary expected to occur on October 30. The offering would see 1000 total shares up for grabs valued at 50,000 yen (about $475) per share.

SBI Group is a Ripple partner and one of the significant stakeholders in the digital asset firm.

Read Original/a>
Author: James W

Tezos (XTZ) Launches Delegated, Pre-Funded, Self-Sustaining Harbinger Price Oracles

Tezos has announced Harbinger — it’s very own oracle to deliver signed price feeds based on market data from multiple crypto exchanges to its network.

With Harbinger, Tezos is expecting the algorithmic stablecoins, lending platforms, and insurance products to kick off the new use cases.

Initial versions of the contracts are already deployed on mainnet and CarthageNet.

It’s not surprising that the network is delving deep into oracle as oracle projects have been having a lot of attention and gains in the crypto market. The crazy growth of Chainlink (LINK) is evidence of how much traction the decentralized off-chain data feed providers are getting.

Other popular oracles in the market are Band Protocol (BAND) and Augur (REP).

Take on the DeFi World

Now, Tezos, a liquid-proof of stake crypto network, is ready to make the most of the decentralized finance (DeFi) world through its oracle.

Oracles are critical to the fast-growing DeFi space, which has a total value locked (TVL) surpassing $7 billion, in order to have trusted price feed.

In its official announcement, Tezos announced that in Harbinger, “an account that pays for fees to update the price oracle can be delegated and pre-funded with tez,” much like staking.

This, it says, will enable the development of “self-sustaining” price oracles where the block rewards for participating in PoS consensus offset the fees required to keep the oracle data current.

“Having a reliable feed for on-chain price data is critical for DeFi lending platforms. Harbinger is an important building block for the decentralized finance ecosystem on Tezos,” said Robert Leshner, founder of Compound.

After taking inspiration from MakerDAO in StakerDAO, this latest one is based upon Compound’s Open Price Feed.

Harbinger is a set of tools and reference contracts, allowing anyone to become a ‘poster’ who retrieves prices from ‘signers,’ which are crypto exchanges to deploy a price oracle on the Tezos network, which then publishes cryptographically signed prices.

Moreover, Tezos smart contracts use callbacks to receive data to avoid reentrancy attacks.

In the meantime, the 13th largest crypto by market cap of $2.5 billion, XTZ is falling alongside the broad crypto market, trading at $3.43.

Also Read: Is the DeFi Craze Killing Tezos? XTZ’s Main Selling Point “Staking” Is Losing Appeal

Read Original/a>
Author: AnTy

Putin Approves Cryptocurrency Bill, Stopping Russians From Using Bitcoin for Payments

On Friday, Vladimir Putin, Russia’s president, signed one of the two digital assets bills into law, Russian media outlet RIA reports.

The new law was passed by Russia’s parliament, Duma, last week and states that firms can provide virtual securities on blockchain platforms provided they are well registered with the country’s central bank, Bank of Russia, as issuers as well as meet various provisions.

The new law also states that decentralized cryptos are taken to be a form of property that should be declared by the holders for taxation purposes.

The bill notes that as a property, cryptocurrency cannot be used to pay for goods and services in the country. However, businesses accepting crypto payments have until January next year to adjust to the new development.

According to RIA, the bill seems like a mild version of what was essentially proposed. Russian parliamentarians had developed a new proposal of the bill which would render any entity providing or trading cryptocurrency illegal in the country.

The first draft of the bill highly represented the skeptical stance that has been advanced by the country’s central bank. It led to widespread condemnation from the crypto community as well as from the country’s Ministries of Economic Development and Justice.

The law also states that Russian residents will now have a chance to challenge any transaction involving the digital currencies in a court of law provided the plaintiff has proof of transaction and is a crypto holder.

The Russian parliament is currently working on a more comprehensive digital bill that will touch on various issues regarding digital currencies. The bill is expected to be discussed and passed before the end of the year. However, no specific details on dates have been disclosed to the public.

Read Original/a>
Author: Joseph Kibe

LG CNS Partners With Blockchain ID Firm, Evernym To Improve The International ID Systems

  • In a local report from Korea, LG’s information wing, LG CNS signed a memorandum of understanding (MoU) with the blockchain-based firm, Evernym.
  • Will introduce decentralized identification (DID) on international passports and driving licenses.

A post from Aju Daily further explains that the partnership with LG CNS will push the software company that develops decentralized, self-sovereign identity applications, into building global blockchain-based identification systems.

The Evernym system aims at replacing the physical international drivers’ licenses and passports by allowing governments to “issue, accept, and verify credentials that operate like a digital passport.”

The implementation of a new blockchain-based authentication system is the start of a partnership between LG CNS and Evernym. On the statement, LG CNS will actively work with Evernym to contribute to the Worldwide Web (W3C) Consortium.

The Chief Technology Officer at LG CNS, Kim Hong-Geun, is aiming at a global market to offer an instant and secure identifier to governments and firms. Kim spoke on the latest signed MOU stating,

“Through cooperation with Evernym, we will create DID solutions and service models that can be used globally. We will also actively participate in related public projects so that South Korea can lead the global standardization of decentralized identification (DID).”

Blockchain Developments in Digital Identification

In February, the LG and Samsung backed consortium, SK Telecom, announced the first-ever mobile-based id system built on blockchain, in partnership with local bank, NongHyup (NH) bank. The new DID system by Evernym will also feature on smartphones allowing users to transfer and retrieve identity information at any moment from the blockchain.

Following IBM’S and Evernym’s partnership in early 2019, a number of venture capital firms started knocking on its doors with Overstock’s Medici Venture’s closing a $2 million investment round in the blockchain-based ID firm.

LG CNS is also engaging in other areas of the fourth technology revolution recently saying it will increase its efforts in R&D in the artificial intelligence, cloud computing and blockchain industries.

Read Original/a>
Author: Lujan Odera

Albania’s Parliament Approves ‘Comprehensive’ Crypto Bill into Law, Joining France and Malta

  • Albania’s parliament has signed a new ‘comprehensive’ crypto bill into law on May 21 as part of its approach towards a legal framework for the industry.
  • It will now join the likes of Malta and France among the countries with the most advanced crypto laws in Europe.

The bill was first introduced to Albania’s Committee of Economy back in 2019 in a bid to create legislation around crypto activities. Dubbed the ‘law on Financial Markets Based on the Technology of Distributed Ledgers’, it was approved yesterday with a majority of 88 votes against 16 with only 3 in absentia.

The New Albania Crypto Law

Anila Denaj, Albania’s Minister of Finance and Economy, is the one who presented the draft law. Following the milestone, she highlighted that:

“The draft law aims to regulate the conditions for licensing, exercising the activity of operators and stock exchanges and supervising them, as well as preventing abusive practices in the market, where severe fines are stipulated for anyone who violates the provisions of the law.”

Notably, the law will also be used to combat money laundering, which has thrived in the crypto market in recent years. In fact, International regulatory bodies like the FATF have already implemented regulations such as the ‘travel rule‘ to ensure proper KYC/AML practices in crypto operations.

Crypto Law Advancements

This volatile market remains quite grey in most parts of the world. However, some countries such as Japan have been touted as leaders in crypto regulatory frameworks.

The Asian superpower recognized Bitcoin and other digital assets to be legal as early as April 2017. In addition, crypto exchanges are also legal provided they register with the Financial Services Agency (FSA).

Other than Japan, the European Union also introduced the 5AMLD (Fifth Anti-Money Laundering Directive) which came into force in early 2020.

These advanced guidelines basically provide clarity on the ambiguity that existed within digital asset logistics. Crypto Exchanges and digital wallets are also highlighted as part of the exposure avenues to money laundering activities.

Read Original/a>
Author: Edwin Munyui

Cred Teams Up With NBA Star Spencer Dinwiddie To Offer 10% Interest On Crypto Loans

Crypto lending and borrowing firm, Cred, has signed an agreement with NBA Brooklyn Nets basketball star and tech entrepreneur Spencer Dinwiddie to enhance crypto lending. Cred rolled out a new post on their website to encourage Dinwiddie’s fans to start using their current holdings to earn interest.

As per the partnership, Cred will allow clients to make money by using stablecoins as well as other crypto-assets. The users will earn a 10% annual interest as per the advert. The users will also access lending services by collateralizing their crypto assets.

The new deal specifically targets Dinwiddie’s fans by allowing them to earn money from their stablecoins. Dinwiddie praised the deal saying that he will use the opportunity to create awareness about crypto and blockchain among his fans. He stated:

“This partnership comes at a critical time, where I can educate my fans on the power of cryptocurrencies and blockchain while they earn interest on their digital assets.”

The partnership will require the users to lock their assets in Cred platform for about six months. However, interests will be paid on a monthly basis in the form of fiat or crypto.

Part of the proceeds from the partnership will be given to Dinwiddie Family Foundation that offers college scholarships to disadvantaged youths in the society.

Although Dinwiddie has made his name in the basketball space, he is also actively involved in the blockchain and crypto space. The NBA star launched the Dream Fan Shares which is a tokenization initiative developed on Ethereum in September last year. The initiative aims at introducing ‘Professional Athlete Investment Tokens’ that allows accredited investors to buy securities linked to an athlete’s success.

As per the project, Dinwiddie’s contract was set to be the inaugural security but the NBA was reluctant to approve the idea, however, the status of the project remains unclear to date.

While the partnership with Cred may look strange, it is a huge boost for the NBA star whose belief in the crypto world has never been in doubt if his Twitter activity is anything to go by.

Read Original/a>
Author: Joseph Kibe

IBM And Maersk’s TradeLens Blockchain Tracking Platform Adds Largest Shipping Port In Oman

Salalah, the largest port in Oman, has signed up to IBM and Maersk’s blockchain supply chain platform TradeLens.

According to a Times of Oman report from Wednesday, the port has only recently been included in the shipping data project, in an attempt to make some digital transformations. TradeLens allows companies and shipping supply chains to share information on cargoes in real time, through its permissioned blockchain. This ensures increased efficiency and more transparency when it comes to international trades.

Salalah to Make Shipping Operations Transparent

As Times of Oman says, the Salalah port is trying to collaborate with other supply chain entities to make its operations digital. It’s believed TradeLens can be very helpful when it comes to bringing transparency to shipping operations. This is what Port of Salalah’s CEO, Mark Hardiman, had to say about using blockchain tech for the port’s operations:

“Adopting and incorporating blockchain technology into all aspects of the supply chain will not only enhance the attractiveness of Salalah for [ecosystem] companies but also support the development of new business models that can further leverage the geographical location of Salalah.”

TradeLens Has Welcomed Aboard Many Major Carriers Last Year

The TradeLens project has been launched in 2018. It has seen many of the most important carriers joining its platform last year, as in the beginning, shipping companies were reluctant to work with it because it was favoring only founding companies. At the moment, there are over 100 participants on the TradeLens platform, including shipping firms and port regulators or operators.

Thailand’s Customs Agency Also Working with TradeLens

In August 2019, Thailand’s customs agency integrated its shipment tracking procedures with TradeLens. The platform was antitrust exempted by the US Federal Maritime Commission to no longer be legally restricted when it comes to cooperating with US Shipping Act of 1984’s mandated shipping companies. According to reports, port of Salalah had a yearly volume of 4 million shipping containers in 2019, when it broke its own record.

Read Original/a>
Author: Oana Ularu

Legend of Mir Developer Starts Agreement With Linka Blockchain Payments Company

The developer of the Legend of Mir series, Wemade Tree, has recently signed a new deal with Linkam a blockchain payments company. According to the document signed by the parties, the blockchain gaming platform created by Wemade Tree will start to use Linka for payments.

According to the gaming company, seems that the goal of this new partnership is to make it easier for the clients to pay for services and products using the blockchain technology. The CEO of Wemade Tree, Suk Hwan Kim, affirmed that the users should have a seamless experience and that this effort was made in order to enable that.

Linka is a big company. It may not have years and years of existence, but it was founded by people who worked on companies such as Visa, American Express, Samsung, IBM and Shinhan Card.

The new platform is set to allow users to spend cash, credit cards and Link points, which are used as payment on the ecosystem. With the Linka Wallet, the clients of Wemade Tree can also use, send, receive and withdraw tokens.

Wemade Tree was created back in 2000. It is publicly traded in Korea and it has developed several online games, which are its niche, especially massively-multiplayer online role-playing games (MMORPGs).

Being so focused on the online world, the company was quick to start using the blockchain. Last year, it was one of the first companies to use the Klaytn services, for instance, which were created by the Korean giant Kakao. This year, it is expanding and using Linka’s services as well.

Read Original/a>
Author: Gabriel Machado

Six Korean Fintech Firms Join Hands To Develop A Blockchain For OTC Securities Trading

Six Korean Fintech Firms Join Hands To Develop A Blockchain For OTC Securities Trading

Six fintech companies in South Korea have signed an agreement to create a blockchain-based platform that will help in trading of unlisted securities.

CoinDesk reports that the aim of the consortium is to create a blockchain platform that will reduce the costs of transactions, fasten them and make them secure. The platform will aim at making the transactions efficient as well as accessible to a wider range of investors in the country.

The six companies comprise of Korea Accelerator Association, KEB Hana Bank, Hana Financial Investment, Daejeon Techno Park, and Amicus Rex to build the ‘unlisted stock market platform’.

Through this agreement, the firms aims at providing specialized services based on the expertise of each institution with the aim of revitalizing the unlisted stock market that is said to be in the blind spot of the trading zone in Korea as the high costs in the stock value chain can prevent small firms not ready to list in the major exchanges from raising capital.

KEB Hana will handle escrow. Hana Financial Investments will provide support to unlisted companies. Amicus Lex will offer legal advice, while the accelerator association and the techno park will do the marketing and promotion for the platform.

The platform will be launched in the second half of this year by Koscom. Koscom is 76.6% owned by the Korea Exchange.

Koscom expects that small- and medium-sized ventures will reduce the burden of managing shareholders, investors will be less anxious when trading unlisted stocks, and the start-up funding market will be activated.

Koscom’s blockchain technology was selected by the Financial Services Commission’s Innovation Financial Services as a platform for shareholder list management and stock trading for startups and medium-sized companies in May. The Financial Services Commission said that Koscom’s unlisted trading services met key requirements such as innovation and consumer convenience.

[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.

Read Original/a>
Author: Joseph Kibe