Hyperion Technologies Buys Off Vanbex Despite Criminal Investigations Into Its $22 Million ICO

Canadian-based blockchain firm, Vanbex has confirmed selling its IP to Hyperion Technologies, a Canadian crypto brokerage firm, CoinDesk reports.

According to Lisa Cheng, Vanbex co-founder, the buy off means that the products, as well as business models under Vanbex, will continue to operate under Hyperion Technologies.

Hyperion Technologies CEO, Michael Zavet, praised the acquisition saying that it was a strategic business move that will allow his company to have a large market share.

According to the press statement issued, the FUEL token that was given during an ICO which is also subject to criminal investigations will be utilized to clear transaction fees, API integration as well pay for various services offered by both Hyperion Technologies and Vanbex.

After the announcement, some Vanbex investors questioned the move seeking clarification on what will happen to the token from the firm’s CEO Kevin Hobbs. In Vanbex’s Telegram account, some investors sought to know if the deal was legally binding saying that Hyperion Technologies should continue using the FUEL token.

However, CoinDesk reports that Hyperion Technologies, as well as Vanbex, did not respond to their queries on the fate of FUEL token.

As per the press release, Vanbex will now become a blockchain consulting firm and will help Hyperion Technologies to grow in the industry.

Months ago, Vanbex revealed that it was planning to sell some of its assets to sort out the negative publicity that was affecting the company.

The press release indicated that Cheng is poised to become the firm’s new CEO while Hobbs will lead the consulting business.

Vanbex has been under criminal investigation by Canadian police since May 2018 shortly after the Canadian tax agency started a tax probe. The Canadian government agencies have frozen Hobbs and Cheng bank accounts and their properties were confiscated in March. According to government agencies, Vanbex’s founders misused the $22 million that was raised during the ICO and did not deliver the product to the investors. The founders have denied the allegations and are fighting to clear their names in the Canadian courts.

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Author: Joseph Kibe

Telx Technologies Rolls Out World’s Inaugural Cryptocurrency-Facilitating Sim Card Wallet

Cryptocurrency and telecommunications payments company Telx Technologies, has developed the first cryptocurrency SIM card wallet – which will allow Telx customers to send cryptocurrency transactions via SMS to any phone number around the world.

Telx does this by providing the customer with a SIM card and a phone number that have cryptocurrency wallets linked to them.

The agenda behind the project is to enable people to send money internationally without the need for a smartphone, Internet connection or wallet app/address. According to Telx, its launch will be the world’s first such SIM card used for this purpose. In a Medium post, the company announced the launching of the sim card:

“Send crypto via SMS with the first cryptocurrency sim card and phone number wallet.”

Telx seems to be catering to the non-technical audience in the cryptocurrency community. The company claims that SIM cards work in over 180 countries and can be used with any phone having an open SIM card slot. The company has a catalog of worldwide enabled phone numbers from which the customer will choose and use as their new wallet identity. This replaces long, confusing public keys.

Telx customers will be able to send cryptocurrency transactions to Telx phone numbers, regular phone numbers or cryptocurrency addresses themselves.

Because the Telx SIM card works over telecommunication networks instead of internet networks, there is no need for an internet connection, smartphone or application. This allows users who are in parts of the world with an unreliable internet connection to participate in the fast-growing blockchain industry.

Telx seems to be borrowing from a similar service for fiat currency exists called “M-Pesa” which allows users to send money to other phone numbers via SMS. Since the launch of this product, it has grown quickly at becoming the most widely used phone-based peer to peer money transfer system. Telx is determined to be the cryptocurrency version of this service but with global unfettered access.

According to Cointelegraph, Telx sim card supports Bitcoin, DASH, Zcash as well as Bitcoin Cash. The company promises to prevent SIM swapping and phone number porting, to accept transactions originating only from the proper SIM card, to protect the wallet with a dedicated PIN number and to provide backup keys in case of a theft or loss.

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Author: Joseph Kibe

Nym Technologies Releases New Code To Unleash Next Generation of Privacy Solutions

A privacy-focused crypto company called Nym Technologies has recently unveiled its newest piece of code. According to the company, the testnet of its decentralized identity system will be ready for its official launch in the upcoming months.

The CEO of the company, Harry Halpin, affirmed at the latest Web3 Summit, which was held in Berlin, that this technology will become a milestone for the next generation of privacy software. He’s ambitious, affirming that not only they will use it for the blockchain world but that the solution also will be used in the whole web.

Halpin affirmed that the project is open-source and that it is based on the Ethereum technology. Part of the idea is that the company wants to allow particular tokens on the ETH platform to be transformed into NYM. This, the CEO believes, would bring the privacy solutions to basically all crypto platforms.

The program was built using the programming language Go and the Coconut cryptographic scheme. According to the CEO, Coconut is currently the best privacy signature scheme in the market, which is mainly why it was chosen to be the backbone of the project.

Another part of the reason is because Coconut was created by Chainspace and several employees from there have migrated to the company.

Nym Technologies Wants To Rival Facebook

It is not an exaggeration to affirm that this is a massively ambitious project. The CEO wants his software to match Facebook Connect, the single login app developed by Facebook. He believes that the users should have their data on their hands, so facing Facebook and taking its place in the market is a must.

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Author: Lorraine Mburu

ZCash Unveils New Zebra Software Client to Improve ZEC’s Blockchain Network Health with Parity

  • ZCash and Parity Technologies work together to provide improved security to users
  • The goal is to offer better services to users

The ZCash Foundation has partnered with Parity Technologies in order to release a new open source client for the ZEC cryptocurrency. This is according to a press release unveiled on June 17. ZCash (ZEC) is one of the largest cryptocurrencies in the market offering privacy features.

ZCash Foundation And Parity Technologies Work Together

The new software client is called Zebra and it has been released to provide redundancy in the case of its client failing. In this way, the network is expected to work in a much more secure way and users would be more protected than before.

There are going to be other improvements to ZCash with this partnership. For example, the network would be able to detect implementation-specific bugs and also avert problems related to the consensus mechanism that the network has.

Parity Technologies has been working on other crypto clients in the past. For example, they have developed Parity Ethereum.

About the new partnership to improve ZCash, the CTO of Parity, Fredrik Harryson, commented:

“The community wins across the board … Zcash can now boost a more diversified community that can effectively tailor experiences for Layer 2 developers as well as end-users.”

At the time of writing this article, ZEC is the 23rd largest crypto in the market with a price per coin of $100. ZEC’s market capitalization reached $677 in the last few hours.

[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: Carl T

Live Planet’s Blockchain Division Welcomes Departing 20th Century Fox Film CTO to Work on VideoCoin Network

  • Live Planet, Inc., a media technologies firm, will be joined by Hanno Basse, a former Chief Technology Officer (CTO) with 20th Century Fox Film Corporation.
  • Basse will be joining the Los Angeles based corporation, bringing his wealth of experience as he assumes the position of Live Planet’s Decentralized Media Solutions division, as president.

Traditional Institutions and Firms Considering Adopting Blockchain and Crypto-based Solutions

A few traditional institutions are known to be actively considering cryptocurrency and blockchain solutions as additions to their business, in recent times.

Some have already begun implementing these new solutions while others are reportedly still on the drawing board or in the testing phase.

Facebook, for example, is set to launch its own cryptocurrency called GlobalCoin and as part of its process to secure a space in the growing cryptosphere, the social media giant employed two former compliance managers from one of the biggest crypto exchanges in the world, Coinbase.

Live Planet Secures 20th Century’s CTO

In the practice of employee cross-carpeting, a new move has been announced as an addition to one of the major creators of next-generation media technologies, Live Planet Inc. According to a press release on the 11th of June, the media technologies firm will be joined by Hanno Basse, a former Chief Technology Officer (CTO) with 20th Century Fox Film Corporation.

Basse will be joining the Los Angeles based corporation, bringing his wealth of experience as he assumes the position of Live Planet’s Decentralized Media Solutions division, as president. Basse is a well-known technology expert in Hollywood and is expected to improve on Live Planet’s current solutions and probably add new ones as well. Some of Live Planet’s current efforts include an end-to-end virtual reality (VR) service for streaming videos as well as the VideoCoin network, a video infrastructure platform based on blockchain technology.

Live Planet CEO, Halsey Minor, has expressed quite a bit of optimism at the possibilities that will stem from the new addition. Minor said:

“I’m absolutely thrilled to mark the next stage of growth for Live Planet with the addition of Hanno to our world-class team of media and technology experts. Hanno brings a truly unique level of senior experience to Live Planet that will be extremely valuable to us as we help our customers meet the increasing demands of streaming video and next-generation on-demand services.”

Hanno Basse

Basse has a long track record of contributing to certain key innovations in the film industry. He was one of the key figures responsible for the forging of strong partnerships with major companies like Samsung, Barco and Ericsson. During his time at Fox, Basse was the first chairman of the UHD Alliance and played a pivotal role in the launch of the 4k-UHD Blu-Ray Disc format and the High Dynamic Range (HDR) as well.

Cryptocurrency and Blockchain in Other Film Industries

PewDiePie who until very recently had the YouTube channel with the most subscribers, (currently over 96 million with 3,864 videos) has revealed his decision to join a blockchain video service known as Dlive and begin streaming there. Dlive is powered by the Lino blockchain and seeks to pay content creators as well as viewers, for the effort and contribution to the platform. These creators and viewers will be paid in Lino tokens, the blockchain’s native cryptocurrency.

A little over a week ago, Brazil’s National Bank for Economic and Social Development (BNDES) was announced to be creating a documentary film which will mostly be funded via its own ether-based stablecoin called the BNDES token. The film will be produced in collaboration with a production company known as Elo Company who’s “The Boy and the World” movie by Alê Abreu successfully snagged a nomination at the Academy Awards in 2016.

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Author: Tolu