Blockchain News

Vietnamese Blockchain Startup Utop Gets $3 Million From FPT Corporation & SBI Holdings

Published

1 month ago

April 20, 2019

Stefan

The major technology company FPT Corporation and the prominent financial services provider SBI Holdings are one of the names featured in the latest cryptocurrency news on our website, because of their $3 billion investment in a Vietnamese blockchain startup named Utop.

According to news coming from the local English language daily news outlet Viet Nam News reported on April 19, both FPT Corporation and SBI Holdings Inc. have signed a memorandum of understanding (MoU) to invest the $3 million in the Vietnamese blockchain startup Utop.

What the Utop startup brings to the table is a revolutionary technology that would allow users to gain and redeem loyalty points at merchants within the same network. As the news show, the project will purportedly enable small businesses registered on the network by reducing their costs and securing data through the akaChain platform.

As the chairman of FPT Truong Gia Binh said when asked about their investment in the Vietnamese blockchain startup:

“The development of Industry 4.0 technologies has created breakthrough opportunities for businesses, mushrooming so many innovative business models. We call it digital transformation.”

As featured on many best cryptocurrency news sites so far, SBI has managed in a number of ventures in the cryptocurrency sector such as its own exchange Vctrade alongside a series of investments in many businesses related to cryptocurrency infrastructures and services.

Last October, for example, SBI partnered with Ripple’s XRP powered payments app, MoneyTap, showing up in the altcoin news section and going live with the system whch helps account holders at selected Japanese banks. At the time, the app was designed to include a consortium of 61 institutions including more than 80% of all Japan’s banking assets in a single service.

Right now, the company has a massive interest in the Vietnamese blockchain startup Utop and is looking forward to the development of its infrastructure.

Previously, the company’s general director Ngo Vinh Quy talked about blockchain (during the partnership with the largest telecommunications operator in the country, Viettel Group) stating:

“Blockchain is an unlimited ecosystem. The most difficult task for Viettel is choosing the most effective blockchain technology that can be applied in daily life.”

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Stefan

Stefan has been a Bitcoin Specialist for over 5 years. Providing daily news and updates for DC Forecasts.

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Blockchain News

Beacon Chain Contracts: The New Way To Deploy ETH-Based dApps

Published

53 mins ago

May 27, 2019

Stefan

There has been a major redesign in the core infrastructure behind Ethereum 2.0, bringing beacon chain contracts as a new way to deploy dApps in the ecosystem. The altcoin news recently showed a new proposal directly submitted by the founder of Ethereum, Vitalik Buterin, which suggests a radical modification of the blockchain's role in a new iteration. The new proposal shows the iteration based on proof-of-stake consensus. As one co-lead at a non-profit organization called Prysmatic Labs named Raul Jordan stated:

“The idea here is that basically on the beacon chain, you’re going to be able to deploy these little worlds that summarize how a blockchain works, how a state transition works, [and] how a smart contract works."

This puts beacon chain contracts in the focus of the latest cryptocurrency news. According to Jordan (who is part of one of the leading teams building software that supports scalable and energy-efficient version of the second largest blockchain in the world), the proposed beacon chain design by Buterin “makes it a lot easier for application developers, people building on [ethereum],” and thus helps in leveraging the new network without having to re-learn the parameters of an entirely new blockchain platform. A lot of application developers praise the news for the beacon chain contracts because of the amazing features. However, many aspects are still highly subject to change and further research. However, Buterin's latest proposal suggest interesting new dynamics to simplify how decentralized applications (dApps) are deployed on the estimated $26 billion network. As many other altcoin news sites report, the beacon chain is a central blockchain that coordinates with hundreds of other Ethereum blockchains called "shards" in the envisioned Ethereum 2.0 network.

“Instead of having one giant machine run transactions one at a time…we can split it up across tons of machines across the world and run them in parallel,” Jordan explained.

Even though originally the beacon chain was to act strictly as the coordinator, Buterin has proposed that the beacon chain could serve an additional function - and store specialized smart contracts called beacon chain contracts. The titles were everywhere, reported by many best cryptocurrency news sites.

“These contracts are not analogous to regular smart contracts you would deploy for your application on ethereum 1.0,” writes Will Villanueva, a researcher for the Ethereum venture capital studio Consensys. “Those would live within the shard chains. In contrast, beacon chain contracts will represent execution environments or transaction frameworks as a whole.”

Blockchain News

NFL Players Demand To Get Paid In Bitcoin

Published

18 hours ago

May 26, 2019

Stefan

NFL players join the Bitcoin revolution and demand to get paid in bitcoin. In today’s altcoin news we read more about the true bond between the American Football stars and the number one cryptocurrency. It all started when an LA Chargers Offensive Tackle Russell Okung tweeted: Pay me in Bitcoin.’’ Since his tweet, more of the NFL players tweeted back. 15 minutes after the initial post, he wrote:

“How dope would it be to see an ESPN headline with an athlete being paid in $BTC?”

The crypto community answered right away and told Okung all the information and tools that he needs to continue on the crypto journey together. The player was happy to answer the community and even asked:

“How could something so wrong make me feel so right? I’m part of the revolution. Long $BTC, short the bankers.’’

In the meantime, Anthony Pompliano also posted that the NFL Quarterback Matt Barkley was among the NFL players that also wanted to get paid in bitcoin but he didn’t succeed to get his dream come true. Again, the crypto community on Twitter praised him and offered him advice on how to fight for what he really wants. Trezor, the popular crypto wallet producer even offered to get him and his team-mates free hardware wallets to which Barkley replied he was ‘’all about @Ledger.’’ The most surprising thing was that he replied to the suggestion that he already has some ‘’skin in the game’’ and that he started mining bitcoin some time ago. Okung on the other hand, as reported in the latest cryptocurrency news tweeted that many of the NFL players are asking him about bitcoin. however, the thing goes past the dream of the player to get his paycheck in Bitcoin. He is the vice president of the NFL Players Association which ‘’assures proper recognition and representation of players’ interests.’’ It is expected from him as a person with a say in the organization to fight for the players who want to get paid in Bitcoin. With services like Bitwage available, the dream could become a reality for those who want another option in their career.

Blockchain News

Robinhood Mobile Trading App Valued At $7 Billion: Report

Published

1 day ago

May 26, 2019

Stefan

Robinhood mobile trading app, the favorite among crypto users, closed it recent funding round where about $5.6 billion was attached. In the latest cryptocurrency news today, we see how the platform managed to create a multi-billion dollar business in less than seven years. Robinhood built a zero-fee stock brokerage and trading app with a very inviting user interface and managed to build its empire. The company’s valuation increased after the latest $200 million funding round from its financial backers. The funding round could result in the company reaching a valuation as high as $10 billion. The last year’s funding round brought the company a valuation of $5.6 billion. The stock trading app has an amazing track record of growing its user base and successfully managing to monetize its services. According to Nasdaq’s reports, Robinhood Markets Inc. made a &billion revenue back in 2017 and the company is expected to make $47 billion annually by 2020. This is possibly the fastest growing broker of all time. In 2018, the investment app surpassed its rivals and doubled its user base to 4 million. As the best cryptocurrency news sites explained, Robinhood mobile trading app has zero commission fees which are surprising how the company manages to make such crazy amounts of money. The profits, however, come from three main sources: selling orders to high-volume exchanges that are seeking more liquidity profits from interest rates earned by lending money and by the Robinhood Gold subscriptions that charge a $10 to $200 a month. Selling orders to high-frequency exchanges is a tried practice that has proven to attract criticism for lack of transparency. Nevertheless, Robinhood is extremely popular with millennials. The zero-fee policy is a major selling point for this target group. The app’s friendly interface is also one of the reasons for its huge popularity. There’s no doubt that the Robinhood mobile trading app selection of crypto investments is also very attractive to the millennials and daytraders. A survey shows that 43 percent of millennials trust crypto exchanges more than they do stock ones. The co-founder of Robinhood stated:

‘’Crypto has certainly added to our growth. In the next couple of years I think you’ll see Robinhood looking like a full-service consumer finance company.’’

Blockchain News

Blockchain For Timepieces: World’s Oldest Watch Manufacturer Gets Involved

Published

2 days ago

May 25, 2019

Stefan

The world's oldest watch manufacturer coming from Switzerland, Vacheron Constantin, is apparently interested in blockchain for timepieces - and about to start using the blockchain technology to track its watches. The news went viral in the altcoin news section after they were shared by the lifestyle magazine Robb Report on May 24. Originally founded in 1755, Vacheron Constantin is known as the world's oldest watch manufacturer. Now that the brand is interested in blockchain for timepieces, it also plans to issue a paper and a digital certificate to each of its vintage watches, putting the technology to actual work.

“Blockchain certification serves to avoid paper authentication, which can easily be forged,” the company said in a press release.

As the latest cryptocurrency news show, Vacheron Constantin will use blockchain tech to integrate additional information in the certificate - as well as a complete history of the product and manufacturer. The blockchain for timepieces initiative will apparently help and fight counterfeiters while guaranteeing authenticity of the watches as well as protecting the customers from purchasing fake ones.

“[Blockchain] makes it possible to create a forgery-proof digital certificate of authenticity, which follows the watch throughout its life, even if that involves several changes of owner. A unique number is thus assigned to a unique object, making the two inseparable and securing data relating to the property, value, nature and authenticity of the timepiece," the company said in an official statement.

Vacheron Constantin is however not the first big manufacturer interested in blockchain for as a technology and featured in the coming altcoin news. Earlier this year, the major global fiber producer Lenzing announced that it will implement blockchain and bring more transparency to its fiber supply chain, launching a traceabilit platform in 2020 as the company reports showed.

"Founded in 1755, Vacheron Constantin will begin using Blockchain immediately with timepieces in its Les Collectionneurs program. Now each of the vintage watches, which have been patiently tracked down by the maison’s heritage specialists and restored to perfect working order before being sold at special events at their boutiques, will be sold with a paper certificate of authenticity along with an incorruptible digital certificate," the news concluded