Financial services company SBI Holdings announced it had secured a license from Japanese regulators for its joint money transfer operation with Ripple in a statement Wednesday, September 26.

SBI Ripple Asia, a venture under development with Ripple since 2017, now has permission to handle electronic payments as an “Electronic Settlement Agency Service Provider” under legislation rolled out in March that year.

According to SBI’s statement, its smartphone app MoneyTap — which will allow users to send payments using a platform based on distributed ledger technology (DLT) — is now closer to a public launch. The statement adds:

“SBI Ripple Asia is planning to register the electronic settlement and other settlement enterprises in order to properly implement electronic payments and other settlement aspects related to MoneyTap in the future.”

In June, SBI Holdings launched its in-house exchange VCTRADE, with Ripple (XRP) as the first asset to receive support, and Bitcoin (BTC) coming later. Earlier this week, SBI Holdings reported they would be trialing its blockchain-based “S coin” for making retail purchases with users’ smartphones.

Japan continues to sharpen its regulatory oversight of the crypto exchange sector in particular, with the country’s Financial Services Agency (FSA) confirming new entrants to the market would undergo increasingly stringent checks before being able to obtain the necessary license.

This post is credit to cointelegraph

In 2018, new blockchain initiatives are growing strong day by day especially in Southeast Asia. With so much projects set to release their working products or applications, and also likely to grow the ecosystem with newly converted institutional money. However, this exponentially growing market can only achieved if  to strongly highlight whether Blockchains can really support a decentralized world.

The amount of venture capital fundraising on Blockchain-based companies so far in 2018 has already reached more than 40 percent dated since last year , according to a report released by Crunchbase News on Feb. 27. By looking at a graph of all of the venture investments this year in “Blockchain and Blockchain-Adjacent Startups,” excluding ICOs, Crunchbase found that the spikes and drops of Bitcoin’s price since Jan. 2018 has been making any venture investment steadily increase. But still… the market is still hot.

Now the question is how to select a project to invest?

So this time, come over to DAIBC and join its Blockchain Project Showcases on Sep 27th-28th in Malaysia!

 

These are the confirmed investors that you wouldn’t want to miss:

 

For more information, please visit:

http://www.szwgroup.com/ibdac-kuala-lumpur/

And don’t forget to register here:

http://szwgroup.force.com/registerproject?prjcode=FTMALAYSIA20189SZW&uname=Melissa&ind=FinTech

 

This post is credited to coins300

Australian firm Vicinity has announced it will trial a blockchain solution for its energy network. The company revealed this Thursday, September 25 in an official press release.

Vicinity – with more than $42 billion in real estate assets under management – has partnered with Australian energy tech company Power Ledger. The newly announced trial is a part of Vicinity’s $75 million solar energy program that is about to start in Castle Plaza – the company’s mall located in Adelaide, South Australia.

The new blockchain platform delivered by Power Ledger will reportedly allow Vicinity to manage energy distribution in real time, deciding whether to keep using solar panels or switch to the national power grid. Vicinity hopes the experiment, if successful, will enable its shopping malls to share energy with nearby communities that are connected to its power network.

Executive general manager of Vicinity Justin Mills has claimed that blockchain solutions might help reduce energy costs and conserve the environment:

“We see our partnership with Power Ledger as a significant opportunity to unlock a future of more competitive energy prices for our retailers and customers while potentially sharing clean, renewable energy to the communities surrounding our centres.”

Power Ledger is an Australian renewable energy company that uses blockchain solutions for peer-to-peer (P2P) energy trading. According to the latest press release, the company is also engaged in P2P energy trading pilots in Japan, U.S. and Thailand.

Back in February, Cointelegraph reported that blockchain is widely used in the energy industry, with notable use cases including energy consumption monitoring systems and cryptocurrency rewards for those who use renewable energy sources, like solar power.

This post is credit to cointelegraph

Dairy Farmers of America (DFA), a U.S. national milk marketing cooperative, has teamed up with food fintech startup ripe.io to pilot a blockchain-powered project aimed at improving the food supply chain, according to an announcement published September 25.

DFA is a cooperative owned by dairy farmer-members in 48 states, the net income of which totalled $127.4 million in 2017, while its net sales were over $14 billion. In 2017, the cooperative directed the marketing of 64.4 billion pounds of milk, representing approximately 30 percent of the total milk production in the U.S.

Now, DFA is embracing blockchain technology in order to increase supply chain transparency. The pilot project is deploying a blockchain platform developed by ripe.io and using data from a group of DFA member farms and one of the DFA’s manufacturing plants. David Darr, Vice President of Sustainability and Member Services at DFA, said:

“Consumers today want to know where their food comes from and blockchain technology, like ripe.io, gives consumers real-time data, which can really help increase trust and confidence about food production from start to finish.”

Darr noted that currently, DFA intends to assess the technology and explore how the organization can benefit from using it.

Blockchain technology has seen a variety of applications in agriculture and food supply chains. Earlier this month, Albert Heijn, Holland’s largest supermarket chain, in partnership with its supplier, Refresco, revealed it is using blockchain to make the production chain of its orange juice transparent.

Yesterday, Cointelegraph reported that U.S. retail giant Walmart and its division Sam’s Club will require suppliers of leafy greens to implement a farm-to-store tracking system based on blockchain by September 2019. Walmart will also reportedly require a similar traceability system “for other fresh fruit and vegetable providers within the next year.”

This post is credit to cointelegraph

Heard of Alulaba ( AAA ) ?
Alulaba spikes 475.17% in 24 Hour.

 

What is ALULABA? 

Alulaba is a blockchain startup that continues the breakthrough linkage of Asian financial institutions with the addition of CASTA Group, the Hong Kong Blockchian Technology Application Research Group, to its global membership list.

AAA Group, Asia’s largest independent publicly listed corporation, works with 50 of the world’s largest financial institutions, including banks, to develop blockchain commercial applications for the industry.

AAA’s CEO talks about the diversity of the blockchain membership network, beyond geography. He declared:
“By partnering with a broad range of non-bank organizations, in addition to our extensive banking partners, we will ensure that technology is developed in our laboratories that represent the Different interests and vast requirements of players in the global financial ecosystem. The global network of AAA partners will be “united in the laboratory environment” at the research and development stage in the AAA lab and Research Center, where the blockchain Corda smart deal has been delivered. AAA gives us the ability to understand together with other world leading organizations in financial services the potential applications of blockchain technology in the world and especially the Asia-Pacific region.”

Gambling with Alulaba?

Each new entrant will receive 300 AAA to play . In the world of Abulaba ,with attractive Casino games like Baccarat, Dragon Tiger , Greyhound Racing , Horse Racing, Dragon Tiger, Trader, Roulette etc..

Alulaba has its own exchange too!

Ending ICO Abulaba is not expected to co-operate in the AAA-CASTA-Markets to trade other digital currencies to boost Abulaba’s growth. Meanwhile, in 2019, the company will weaken its token code. AAA on the international stock markets is now creating an ecosystems for easy-to-buy private exchanges across the globe ..!

This post is credited to coins300

Google has reversed its complete ban on cryptocurrency-related advertisements, allowing reputable digital asset exchanges to buy ads in the U.S. and Japan. These new guidelines go into effect in October.


Reaching out to Potential New Investors

Google outright banned cryptocurrency-related advertisements on their platforms back in March. The ban included ICOs, wallet services, and trading advice. While those types of ads are still banned, Google is following in the steps of Facebook, who started allowing some cryptocurrency advertisements back in June, by reversing the ban and allowing for select advertisements

 

Google will now allow for regulated exchanges in Japan and the United States to buy ad space on Google platforms. While this is surprisingly nice news for U.S.-based crypto fans, this is run-of-the-mill for the people of Japan who have seen record adoption in recent months.

cryptocurrency

Where Is the Crypto Market Going?

The late-2017 bull run brought a massive amount of wealth into the space but spawned an almost equal number of high-profile scams and sometimes even outright fraud.

Google has acknowledged that the public seems to want cryptocurrencies but recognizes the potential for consumer harm. Scott Spencer talked to CNBC at the time of the original ban, saying.

We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution,

With the price dropping, lots of these scammers have moved on to more profitable pastures. However, the lessons learned during the last bull run will be very valuable during the next one. The crypto space will be better equipped to protect investors, make it easier for users, and help keep fraud and scams in the space to a minimum.

What do you think about the reversal of the ban? Will this affect the cryptocurrency market? Let us know in the comments below!

This post is credited to livebitcoinnews

Travis Kling, a former executive at Steven Cohen’s Point72 Asset Management, is looking to launch his own crypto hedge fund. Kling decided to leave the American hedge fund to offer a new investment opportunity for investors.

Prominent Investor to Launch Crypto Hedge Fund

Kling took the decision to start this hedge fund back in December 2017. At that time, Bitcoin was traded close to $20,000 dollars. However, the situation dramatically changed some weeks later. The famous virtual currency reached $6,700 dollars and started a bear market that lasts until today.

This bearish sentiment in the crypto market does not seem enough to change Kling’s opinion. The hedge fund could be opened in the coming months. According to a report released by Bloomberg, the fund could go live in just two weeks from now.

The fund is going to be based in Delaware and the earliest date for the launch could be October 1st. Moreover, the fund is going to be known as ‘Ikigai’ and will be backed by capital provided by anonymous partners. In the future, new investors could join the proposal and provide additional funding to Ikigai.

Kling will be adding $15 million dollars worth of capital on November 1st. If the launching date is October 1st, then, it would mark one month after the official launch.

In 2019, the company will try to reach $100 million dollars and Ikigai’s venture branch to have $33 million dollars in invested capital. Investors that want to allocate capital will be able to do it through a Cayman Islands-based investment vehicle. Until now, there is not enough information on the matter.

About the investments, he mentioned:

“[I am] more confident than ever. This will be a multi-trillion dollar asset class. It will be part of our everyday lives. It’s still very early, but the development and growth of this technology will be exponential.”

The team behind the fund could be located in an office in Los Angeles rather than in Delaware. Currently, most of the funds allocated will be in cash.

This post is credited to usethebitcoin

North Korea is reportedly ramping up the use of cryptocurrencies to evade US economic sanctions. It’s also alleged that the country is developing its own native crypto asset to further assist moving money across borders, according to a duo of financial intelligence analysts from Washington D.C.

North Korea Allegedly Uses a Mixer to Launder Money Using Crypto

According to a detailed interview with Hong Kong-based business news publication, Asia Times, independent financial analysts Lourdes Miranda and Ross Delston believe that North Korea has been using cryptocurrencies to circumvent U.S. led economic sanctions.

“International criminals everywhere prefer cryptocurrencies and the [Democratic People’s Republic of Korea] DPRK is no exception. Cryptocurrencies have the added advantage to the DPRK of giving them more ways to circumvent U.S. sanctions. They can do so by using multiple international exchangers, mixing and shifting services – mirroring the money laundering cycle,” explained Miranda and Delston.

The pair of analysts explain that North Korea would use a “mixer” also known as a “Laundry, Tumbler and a Washer” to move cryptocurrencies in such a way as to hide their tracks, which often includes sending the same type of cryptocurrency back to the original source.

“It is equivalent to requesting change for a $100 and receiving different denominations in return totaling a $100,” they said.

Miranda and Delston further warn that the DPRK could switch to a different cryptocurrency to further obscure the origin of funds.

North Korea Developing Their Own Cryptocurrency

Following the lead of Iran, North Korea may also be working on creating its own cryptocurrency for the purpose of evading economic sanctions.

Miranda and Delston suggests that having “their own cryptocurrency would also facilitate their ability to open online accounts under the guise of a non-adversarial nation using anonymous communication to conceal the user’s locations and usage on the internet.”

The two analysts believe that the DPRK could create its own wallet services so that it can move funds to and from European-based accounts that feature no personally identifiable information, in order to hide the fund’s origin country.

“For example, DPRK could open an online wallet using a Russia-based service, transfer its cryptocurrency into a Bulgaria-based wallet service and then transfer it again into a Greece-based wallet service, all through anonymous communication and using their own blockchain.”

After the funds have moved through a number of anonymous accounts, the cryptocurrencies would ultimately make their way to European exchanges that have relationships with a U.S.-based bank where they’ll be converted to USD.

“Voilà, the DPRK now has U.S. dollars with none of those pesky sanctions attached.”

Like North Korea, both Russia and Iran have been said to be using cryptocurrencies in order to evade international economic sanctions. Last month, Iran released the first details about its own native cryptocurrency, the digital Rial.

This post is credited to newsbtc

As we have seen before the same pattern has resumed and the market rally could not be sustained. Cryptocurrencies have dumped again today wiping out all gains over the past few days. Total market capitalization has dropped back to just over $211 billion again, shedding over $15 billion in 24 hours.

Bitcoin could not hold above $6,700 and has slid back 3.3% on the day to $6,480. The decline has been steadier than previous dumps indicating that it was not just one whale responsible this time. A fall below $6,400 could result in all cryptos dropping back even further. After rallying well, Ethereum has plunged just under 9% overnight to trade at just above $220 wiping out all weekend gains.

Altcoins are predictably in the red on Asian markets this morning. There are some heavy losses in the top ten with XRP crashing 17% to $0.478. Stellar and Cardano are also hurting with 11% slides and EOS is not far behind losing 9% on the day. As before several days of gains are lost on one quick selloff as inexperienced traders panic. The top twenty is just as messy with IOTA and Tron dropping over 10% on the day. Also in a bad shape are Monero, Neo, Tezos and VeChain all losing over 7% at the moment.

Looking at the top one hundred Aurora is one of only two altcoins in the green at the moment with an 18% climb on the day. Steem is the other making 7% and the rest are stablecoins. Getting severely beat up after XRP is Siacoin which has lost all gains from yesterday’s pump, falling 14%. Japan’s Monacoin is also in a bad shape with an equal 14% decline on the day and XLM and ADA are not far behind.

Total crypto market capitalization has fallen by $15 billion on the day resulting in a 6.5% slide to just over $212 billion at the time of writing. Trade volume is currently around $14 billion which is higher than previous weeks. On the bright side markets are 9% higher than their levels this time last week when they were hovering just above the 2018 low.

This post is credited to newsbtc

The Spanish Ministry of Agriculture, Fisheries and Food plans to apply blockchain technology to develop the forestry industry, local news outlet EuropaPress reported September 21.

The operating group, entitled ChainWood, aims to improve the traceability and efficiency of the wood supply in Spain by implementing blockchain technology in industry logistics.

ChainWood is a group of eight partners from different Spanish regions, including Galicia, the Community of Madrid, Andalusia, Castilla y León, and Asturias. The operating group was created with funding by the Ministry of Agriculture, Fisheries, and Food, the Directorate General for Development Rural and Forest Policy, and the General State Administration, with a total subsidy of 93,350 euros.

The working meetings of ChainWood have already been held in Santiago de Compostela and Madrid, with the group set to develop a cloud-based software “that will improve the transparency” to forestry processes — like the creation of solid wood, disintegration, cellulose paste, and biomass — by applying blockchain, big data, and machine learning.

Once the platform has been developed, ChainWood will carry out pilot experiments in Castilla y León with the poplar, Asturias with the chestnut, and Galicia with the oak tree.

Back in August, China’s northern Sichuan province government signed a strategic cooperation contract establishing a new company, Hangzhou Yi Shu Blockchain Technology Co., Ltd, for “forestry economic development and industrial poverty alleviation.”

Previously this summer, the Catalonian Government had revealed a plan to promote blockchain technology “with the aim of improving digital services to the public,” Cointelegraph reported July 25.

This post is credit to cointelegraph