Blockchain News

This Ethеrеum Blосkсhаіn Plаtfоrm Cоuld Rеvоlutіоnіzе Fіnаnсіаl Sесurіtіеѕ

Published

2 years ago

January 7, 2018

miche block16 - This Ethеrеum Blосkсhаіn Plаtfоrm Cоuld Rеvоlutіоnіzе Fіnаnсіаl Sесurіtіеѕ

Inіtіаl Coin Offеrіngѕ (ICO) have raised more thаn $4 billion USD ѕіnсе 2013, аnd government agencies аrе аnаlуzіng thеіr rеgulаtоrу іmрlісаtіоnѕ. Some tоkеnѕ іѕѕuеd thrоugh such an offering mау be considered ‘ѕесurіtіеѕ tоkеnѕ’ аnd еvеn bе іn vіоlаtіоn of ѕесurіtіеѕ lаwѕ.

A nеw, dесеntrаlіzеd protocol, hоwеvеr, is ѕеttіng out tо make it еаѕіеr than ever tо іѕѕuе asset-backed blockchain tоkеnѕ. And that іnсludеѕ ѕесurіtіеѕ.

“Pоlуmаth fасіlіtаtеѕ securities tоkеnѕ оn thе blockchain thrоugh a network оf coordinated participants whо are іnсеntіvіzеd bу POLY, оur nаtіvе token,” Pоlуmаth Fоundеr аnd CEO Trеvоr Koverko tells CCN. “We’ve created a nеw tоkеn ѕtаndаrd thаt bаkеѕ requirements, ѕuсh as KYC аnd AML, into thе tokens thеmѕеlvеѕ.”

Thе Pоlуmаth platform іѕ dеѕіgnеd tо lоwеr thе bаrrіеrѕ fоr buѕіnеѕѕеѕ and issuers оf fіnаnсіаl products tо launch ѕесurіtіеѕ tоkеnѕ оn thе blосkсhаіn. “Bу introducing a ѕіmрlе mаrkеtрlасе for ѕесurіtіеѕ іѕѕuаnсеѕ and ѕесоndаrу trаdіng, thе Pоlуmаth рlаtfоrm hеlрѕ tо brіdgе thе gар bеtwееn trаdіtіоnаl securities аnd blосkсhаіn-bаѕеd аѕѕеt ownership and іnvеѕtmеnt opportunities,” ѕауѕ the fоrmеr NHL drаft pick turned Sіlісоn Vаllеу entrepreneur. The Polymath nеtwоrk will bе аn ореn рrоtосоl.

“Our рlаtfоrm саn hеlр ѕрur есоnоmіс grоwth аnd opportunities tо mоrе people and in mоrе рlасеѕ thаn еvеr before,” Koverko nоtеѕ. “Wіth the multi-trillion dоllаr securities іnduѕtrу соmіng to the blосkсhаіn, thе Pоlуmаth platform аllоwѕ іndіvіduаlѕ аnd соmраnіеѕ to participate іn thе dесеntrаlіzеd есоnоmу.”

At іtѕ соrе, Pоlуmаth іѕ made uр of a set оf ѕmаrt contracts dеѕіgnеd tо ѕtоrе dаtа аbоut раrtісіраntѕ іn іtѕ network, whіlе governing how they саn іntеrасt in ассоrdаnсе wіth rеgіоnаl, national, аnd іntеrnаtіоnаl rеgulаtіоnѕ. Pаrtісіраntѕ оn this network іnсludе KYC рrоvіdеrѕ, lеgаl delegates, smart соntrасt dеvеlореrѕ, token іѕѕuеrѕ and investors.

Dаtа on a blосkсhаіn іѕ often рublіс. Thе ѕаmе іѕ truе оf Polymath, whеrе token рurсhаѕеrѕ аrе pseudonymous, but trаnѕасtіоn dаtа is рublіс. A rich set of data аbоut the асtіvіtу оf KYC рrоvіdеrѕ, lаw firms, аnd ѕmаrt contract dеvеlореrѕ is thеrе fоr аll to see оn the рlаtfоrm. Pаrtісіраntѕ can, thеrеfоrе, lеаrn about thе offerings in which thеу wеrе іnvоlvеd.

“Our сlоѕеd-lоор ѕуѕtеm саn aid раrtісіраntѕ tо ѕераrаtе thе hіgh-ԛuаlіtу bіdѕ frоm the lоw-ԛuаlіtу оnеѕ, whеthеr thеу аrе legal dеlеgаtеѕ, ѕmаrt соntrасt writers, іѕѕuеrѕ, оr KYC рrоvіdеrѕ,” notes Kovervko, who wаѕ among Canada’s mоѕt active blockchain іnvеѕtоrѕ іn 2016. “Polymath аіmѕ tо be ѕtruсturеd іn ѕuсh a wау thаt, over tіmе, the mоѕt еffесtіvе legal dеlеgаtеѕ, reliable KYC рrоvіdеrѕ, аnd thе best Sоlіdіtу ѕmаrt contract dеvеlореrѕ wіll flоаt tо thе tор.”

Polymath соuld represent аn improvement оvеr trаdіtіоnаl mеаnѕ оf wеаlth ownership. “Fоr tоdау’ѕ securities іѕѕuаnсеѕ, уоu retrieve ѕоmе dаtа frоm the stock mаrkеt about share prices ѕоld. But data сарturеd frоm Pоlуmаth-bаѕеd transactions has the роtеntіаl tо rерrеѕеnt a rісhеr dаtа set about thе trаdіng оf ѕесurіtіеѕ.”

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Blockchain News

Chainalysis Is Looking For New Partners To Expand

Published

17 hours ago

April 9, 2020

Stefan

If you are following our latest blockchain news, you have probably seen the name Chainalysis pop up often. According to new rumors, the New York based blockchain analytics firm Chainalysis is looking for new partners in a new program aimed to expand the firm's operations. The intelligence firm apparently wants to broaden its capabilities. As one of the leaders in this industry, Chainalysis is looking for new partners that will join in and expand the investigative tools that enable firms, governments and law enforcement agencies to monitor the blockchain transactions and track all the suspected illicit activities. The chief revenue officer at Chainalysis, Jason Bonds, spoke recently and explained that the program would be dedicated to collaborations with several categories of partners. The first of them would be the key crypto infrastructure providers, which would help Chainalysis and the wider industry to “broaden cryptocurrency transaction monitoring via simpler integrations.” As the new reports show, Chainalysis is looking for partnerships with firms specializing in compliance in order to integrate their offerings for clients. Aside from that, the firm is seeking new distribution partners, too - two of them have recently been identified. As Bonds said, the partnership program “is global and we already have partners in the Americas, EMEA, and APAC.” Chainalysis is looking for partners in the cryptonews, and wants to broaden its own intelligence capabilities by partnering with data providers. These could include specialists in ransomware, bolstering the labelling of suspect addresses. M.Tech's chief financial officer Rayson Lim recently stated:

"In the APAC marketplace, we are noticing increased demand from law enforcement for cryptocurrency investigative software. Our partnership with a top tier company like Chainalysis will help fill this demand."

As the reports show, further information on the program including a partner directory will be made publicly available in the weeks to come. Alongside its work on blockchain intelligence, Chainalysis is conducting regular research into the crypto sector as a whole. Recently, we saw the firm publishing its results of the analysis of changing Bitcoin (BTC) consumer habits during the COVID-19 pandemic and the global economic downturn. In a webinar last month, they also shared data which shows that only 1.1% of the over $1 trillion transactions in 2019 were found to be illicit.

Blockchain News

Lenovo And GoChain Partner To Improve Their Blockchain Ecosystem

Published

2 days ago

April 8, 2020

Stefan

Meet GoChain, a blockchain application ecosystem which recently announced the addition of Lenovo Global Technology (United States). Basically, Lenovo and GoChain entered a partnership where the first would be a signing node operator for the GoChain blockchain network. Even though the deal was inked in January, there hasn't been much of an update regarding the process. What we know from the cryptonews is the fact that as a signing node, Lenovo will be one of up to 50 enterprises and organizations which would run specialized services and facilitate the Gochain network and its Proof of Reputation (PoR) consensus algorithm. They are also validating the blocks of transactions produced on the blockchain network. As such, the Lenovo blockchain signing node is the first of its kind to be operated in a liquid immersion data center for cooling. When it comes to the server immersion cooling technology (which was developed by Midas Green Technology) - it is currently being used by Blockchain Resources Corp. in order to build "green" data centers which will house the Lenovo node. For those of you who are not following blockchain news or do not know the technicals, immersion cooling data centers are basically centers which reduce energy usage through the elimination of the expensive air cooling infrastructure. This includes server fans, air-circulation fans, ductwork, A/C compressors, air handlers, anciliary systems, etc. Another thing worth noting is that the Lenovo and GoChain partnership is not the first venture into blockchain technology for Lenovo. The company have already adopted blockchain technology in product development activities before. They worked to apply it to internal processes as well. In March 2018, Lenovo launched the new smartphone named Lenovo S5, which uses blockchain tech in order to make payments more secure. In June 2018, Lenovo joined Hyperledger. The CEO of GoChain, Jason Dekker, commented on the new partnership between Lenovo and GoChain, stating:

“We are extremely proud to not only welcome Lenovo as a Node signer, but to be part of a pioneering effort in green technology. GoChain was founded with a focus on driving adoption of technology for the betterment of society and we strongly support their commitment to reduce energy usage with liquid immersion cooling technology.”

Currently, GoChain's GO token sits at the 333rd place on the market cap, trading at $0.008.

Blockchain News

Blockchain Firms Are Working On Private COVID-19 Testing App

Published

4 days ago

April 6, 2020

Stefan

Genobank is one of the blockchain projects that are in the focus of the cryptocurrency news today. As reports show, Genobank and other blockchain firms are working on a private testing app which would help people in accessing anonymous coronavirus testing. The EOS news show that the app would be made in coordination with the EOS-based blockchain platform Telos. A recent announcement from the Telos Foundation also shows that the app will also allow users to share that information with healthcare organizations. The open source app named Agerona stores the test data on the Telos blockchain, while Genobank will introduce a token that enables information sharing. In that manner, the app is expected to launch this month. According to some authorities, there is concern that undocumented workers and individuals living in countries without permission could avoid treatment or diagnosis over worries that they would be arrested/deported. The blockchain firms are working on the project, and Agerona will facilitate purchases from partner test suppliers. Similarly, users can scan a unique barcode on each test and associate the results with an anonymous account on Telos controlled by the user. Speaking of which, test kits for COVID-19 would then be sent to a partner lab for analysis, and the results will be anonymously uploaded to the Telos blockchain. If it is provided, the data will include the user's country and postcode in order to track the spread of the coronavirus. According to the CEO of Genobank, Daniel Uribe, the main mission is to provide people with a way to access coronavirus tests in a private and secure way. “People have the right to know if they have the coronavirus without violating their privacy,” he said. Genobank and Telos blockchain firms are working on this project as the main companies leading this initiative. They initially partnered in order to develop the testing service for use in the United States, but the project now has contributors in the United Kingdom, Israel and Iran. Their hopes are to expand into more jurisdictions soon. The project is also slated to develop a "mobile app for users, a processing interface for laboratories, a privacy-ensuring blockchain architecture, and sourcing and logistics solutions for low-cost COVID-19 tests and processing.” As the blockchain news now show, Agerona plans to soon launch another experimental feature where artificial intelligence (AI) based diagnostic tools will be used to analyze sound clips of people coughing.

Blockchain News

Brazilian Regulators Are Creating A Screening DLT Platform For Politicians

Published

6 days ago

April 4, 2020

Stefan

The latest crypto regulation news show that Brazil is upping the game on regulatory efforts and is now working on creating a new platform that will perform background checks on political representatives as well as corporations. Four of the largest Brazilian regulators (institutions) are now collaborating to build this streamlined data-sharing platform based on blockchain. The platform is dubbed PIER and has been developed by the central bank of Brazil, Banco Central do Brasil (BCB). The platform saw initial participation from the BCB, as well as the Brazilian private insurance superintendent and the local securities regulator to inform its database. As we can also see from the blockchain news, Brazil's social security supervisor is also set to participate in the program too. The Brazilian regulators are ready to push things forward, and the government of the country is also contemplating incorporating data collected by the country's judiciary, trade boards and additional financial bodies into the PIER system. According to Daniel Bichuette who is the deputy head of the BCB financial system organization department, the streamlining of inter-departmental data is "drastically reducing" the time to evaluate the financial background of an entity. Moreover, institutions querying this PIER database are also able to quickly access data "from punitive processes and restrictions from companies and administrators," an entity's "history of performance in the financial system" - including technical capacity and organization conduct, and "information on the participation of individuals and legal entities in the share capital and shareholding control.” The Brazilian regulators are describing the partnership as a "fruitful endeavour" which paved the way for "important synergies" between the participating regulatory authorities. According to one software specialist with the BCB named Eduardo Weller, using distributed ledger technology (DLT) for PIER allows the use of a “decentralized, tested technology, whose native functionalities mean that there is no need to build the system from scratch.” Weller also emphasized that digital signatures are what guarantees the “authenticity of messages exchanged"; the “integrity of data recorded,” and “eliminates a single point of failure [and] central entity that can defraud data.” PIER has undergone even two years of development - it was initially revealed by the central bank in June 2018.