Soups Ranjan, the Director of Data Science and Risk at one of the world’s largest trading platforms-Coinbase, announced that he is stepping down from his position and will be leaving the company according to a blog post and his Twitter account and we are about to find out why in today’s crypto news.
Ranjan started working in Coinbase in 2015 and in the blog post he writes:
“Last week marked the end of my tour of duties at Coinbase where I built many systems and teams from ground up (data, risk, tools, identity). It was an exhilarating three and half years and Coinbase is quite a rocket-ship that I am immensely grateful to have had a front row seat on.”
He said that he realized that he enjoys building things from scratch and that he figured that out while working at Coinbase so he encouraged his followers ‘’to stay tuned for the next play.’’
While operating as a Director of Data Science and Risk, he aimed to develop a machine learning-based system that can detect if someone is using a stolen payment instrument in order to purchase cryptocurrencies because according to him there is a huge problem with payment frauds because of the irreversible nature of cryptocurrencies.
Ranjan also worked on improving the platform’s identity verification to an automated first pass of a users’ ID.
Back in December 2018, Coinbase enabled all of the United States customers by adding free cash withdrawals to PayPal so customers can withdraw their cash to their payment service. Both of the companies integrated in 2016 after coinbase added support for PayPal. Now users are able to sell BTC and have their fiats deposited in a PayPal wallet.
Guangdong Province In China To Use Blockchain-Based Tax Payment Platform
“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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