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debt notes

Kazakhstan’s Central Bank to use Blockchain for Debt Notes

The National Bank of Kazakhstan announced it is looking to test blockchain technology in order to sell short-term debt notes.

In an official statement published today, the Kazakhstan central bank revealed its plan to launch a new mobile app that to sell the short-term debt notes to investors– denominated in amounts worth 100 tenges (the national fiat currency) – without relying on third-party brokers.

At the moment, this app is being tested within the bank, and its launch is expected by the end of 2017.

In the long term, the Kazakhstan bank commented that the app could be used to make initial public offerings (IPOs) easier.

Also, the financial institution explains it wants to work with the country’s banking industry on possible future versions and uses.

“In this area, the project will continue to search for additional solutions, including the involvement of commercial banks,” the statement explained.

The Central Bank explained that it has been looking at the distributed ledger for potential applications since 2016.

A few months ago, regional news source called Tengri News reported that officials were studying possible blockchain use cases, especially those focused on payments.

Read more about blockchain-related projects developed by banks.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
syscoin wallet

Syscoin Wallet: HolyTransaction adds this new cryptocurrency

Do you want to open a Syscoin wallet?

You are in the right place, as we at HolyTransaction decided to add this digital currency among the crypto available on our multicurrency wallet.

So, from now on you can store Syscoin on Holytransaction, transfer them to any other wallet, and make crypto-to-crypto transfers from/to Syscoin, and ten more cryptocurrency’s networks.

All HolyTransaction customers can create a new address for their own Syscoin Wallet and use the user-friendly HolyTransaction Wallet platform to send and receive transactions or to instantly convert them to any other cryptocurrency we currently support.

Syscoin Wallet features

Just like Bitcoin and all the other supported digital currencies, you can now:

  • Send Syscoin to any address, even to addresses of other cryptocurrencies with instant conversion on the fly;
  • Receive transactions;
  • Exchange Syscoin with any supported coins;
  • Make instant transactions between HT users;
  • Get real time exchange rates on the website;
  • Set OTP for additional protection.

If you are not able to see your newest Syscoin Wallet, you just need to click on the “plus” button on the top right of the balance page, once you successfully login into your own wallet.

What is Syscoin?

Syscoin (SYS) is a digital currency that allows low-cost transactions (our fee is per transaction) and provides businesses a safe infrastructure for trading goods, assets, digital certificates, and data.

Syscoin’s value derived from the decentralized services it provides on the blockchain, a decentralized system of record hosted by a series of “nodes” on the Syscoin network.

Syscoin 1.0 was the first decentralized marketplace and a script algorithm altcoin based on Litecoin. The original whitepaper[3] included Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer and Decentralized Data Storage and Retrieval. Some of these services were available upon launch but only accessible through a command-line interface.

The original whitepaper included:

  • Decentralized Marketplace Creation,
  • Decentralized Smart Contracts and Documents,
  • Decentralized Certificate Issuance and Transfer
  • Decentralized Data Storage and Retrieval.

Syscoin presale began on July 19, 2014. Back at that time, the ICO price was .00000518 BTC/SYS and it raised 1500 BTC.

So, do you want to open your Syscoin wallet? Click here.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
blockchain passports

Blockchain passports to be used in Dubai

A new project related to blockchain passports is being developed by the Dubai government and the English startup called ObjectTech with the main objective of improving security for the Emirate’s airport.

A few days ago, ObjectTech announced that it is working together with the Dubai Immigration and Visas Department to create blockchain passports to potentially eliminate manual checks at Dubai International airport.

This system exploits biometric verification and blockchain technology in order and it will use a “pre-approved and entirely digitized passport” in order to easily and safely authorize travelers’ entrance into the Emirates.

Also, thanks to blockchain passports, people will be identified through a 3D scan via a short tunnel while they walk from the aircraft to claim their baggage.

Thanks to the use of a distributed ledger technology (it’s still unclear what blockchain will be used), ObjectTech explained that passports will contain a feature called self-sovereign identity for privacy protection, which it allows travelers to control which parties can view their info.

Co-founder and CEO of ObjectTech, Paul Ferris, wrote a blog post where he explains that the company aims at making the border process quicker and safer, and also giving passengers full control of their digital data. A pilot program is anticipated to be ready by 2020, although a detailed project timeline remains unclear.

A pilot program will be ready by 2020. 

Dubai is not new to this kind of projects. A few months ago, in fact, Dubai government revealed its idea to solve immigration issues with the blockchain.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin all time high

Bitcoin all time high: Read here the possible reasons

Today, on June 6th, a new Bitcoin all time high has been hit.

According to CoinMarketcap, in fact, the bitcoin price reached a value of $2,911.86, surpassing the previous bitcoin all time high of $2,791.69 set less than a month ago on May 25th.

Bitcoin began June with a price of about $2,500, trading at $2,300 on June 1st.

What are the reasons for this new bitcoin all time high?

As always in these events, many are the possible causes for this recent growth in the bitcoin price.

Here a quick report on what is happening in the bitcoin industry during these days.

Click on the link below to read more about that specific topic.

Do you think there are more reasons for this bitcoin all time high?

Comment the news with us!

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin regulation

Bitcoin regulation: EU to oversee digital currencies

Bitcoin regulation in Europe is moving forward after the decision of EU to fund a new tool.
This initiative about digital currencies surveillance is backed by $5m in funding from the EU and it involves a few government agencies and academic researchers including Interpol, Interior Ministries from Spain and Austria, Finland’s National Bureau of Investigation, and University College London.

In an official statement, members explained that the idea came because of the recent events of ransomware attacks all arount the world.

At the same time, those involved in the project argue not to violate user privacy rights.

“The consortium will analyse legal and ethical requirements and define guidelines for storing and processing data, information, and knowledge involved in criminal investigations without compromising citizen privacy,” said Ross King, senior scientist for the Austrian Institute of Technology (AIT) that is one of the research institutions involved in this project.

That the EU would take this approach is not surprising as they previously pushed aggressively for greater control on cryptocurrency users back in 2016, with the European Parliament following suit earlier this year.

Read more about bitcoin regulation in Europe by clicking here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin russia

Bitcoin Russia: a new law proposition by Russia’s Central Bank

The Bitcoin Russia saga is continuing to move on, as the Russia’s Central Bank is writing a new law focused on digital currencies.

Reports suggest that the Bank of Russia is looking to recognize digital currencies as digital goods, so they will be subjected to regular taxation.

Also, this law will include info on how the government will keep an eye on and regulate domestic marketplaces.

According to Bloomberg and RBC, in fact, deputy governor of the Bank of Russia, Olga Skorobogatova discussed her institution’s work on new legislation.

On May 25th, Skorobogatova explained that legislation could be introduced in the Russia’s national legislature – or the so- called Duma – in June.

Digital currencies “should be regulated, because volumes are increasing compared to the previous year. If people are engaged in this, they have to pay money for it, and we have to have a clear understanding of how to control this activity”, explained Skorobogatova, according to a recent report published by Bloomberg.

So, Russia is moving ever closer toward some kind of legislative framework for bitcoin and other digital currencies.

Initially, the government seemed to want to take a contrary stance on the creation of issuance of the money surrogates and Russian officials revealed their idea to ban bitcoin as illegal.

That position has changed during the recent months, and the enthusiasm on the blockchain started to increase among both officials from the Bank of Russia as well as the Russian government.

For example, Prime Minister Dmitry Medvedev pushed for research into public applications of the distributed ledger tech.

Read more about Bitcoin Russia regulation here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin airlines

Bitcoin Airlines: Japanese Peach to accept the digital currency

Peach Aviation is going to become the first Japan’s airline to accept bitcoin for buying any flight.

This move comes after the Japanese decision to regulate bitcoin as currency, becoming a legal method of payment back in April 1st, 2017.

During a recent interview with CEO Shinichi Inoue, he said:

“Now you can travel without your wallet. I think this is innovation; we’ll put all our energy into it.”

Peach is a budget domestic flights company that operates in Korea, China and Thailand.

The firm announced that they will accept bitcoin payments by the end of 2017; also, the firm is looking to install Bitcoin ATMs at airports.

“This is a real first step in partnerships for Japan and we are aiming for more company and service tie-ups,” said Inoue in an interview conducted by Bloomberg.

“We want to encourage visitors from overseas and the revitalization of Japan’s regions.”

Several major retailers and merchants are starting to accept bitcoin in Japan thanks to the recent law on digital currencies, as you can read here.

And this is maybe one of the prominent reason why bitcoin price is growing so much during the latest period.

Also, Japanese traders are driving bitcoin prices as they transacted huge amounts on the exchanges: recent studies revealed that Yen is the major fiat currency being exchanged for bitcoin.

Bitcoin airlines worldwide

There are a few other bitcoin airlines in the world and also several ways to book a flight with digital currencies.

For example, CheapAir and BtcTrip are the first platforms that accept this disruptive method of payment.

Also, Latvia-based airline and Virgin Galactic began accepting bitcoin since 2013/2014,  while if you want to book a private jet, you can do it through JetVizor.

More bitcoin airlines to suggest? Write us a message in the comments! We would be happy to add new companies.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin all time high

Bitcoin all time high: more than $2000

While I’m writing this article the bitcoin all time high reached a value of $2,019 for the first time in its history.

By reaching a value of more than $2,000, bitcoin’s price grown of about 100% this year and nearly 125% since the annual low of $891.51 bitcoin hit back in March.

Experts agreed that bitcoin’s price recent growth could lead to reaching significant attention from the media and maybe also major financial media outlet would cover bitcoin.

Google Trends data showed that the search for “bitcoin” have still not reached its all-time high they set back in December 2013, but it is getting closer (right now it has a score of 85/100).

That said, the reasons that drove the bitcoin all time high are difficult to identify.

Growing interest by investors

Surely, one reason is the increase in interest from investors and traders, as reported by the major exchange platforms.

Another factor that helped bitcoin to reach its current all-time high is the growing influence of Japan, a country where the technology is now regulated: from April 1st, in fact, bitcoin became a legal method of payment.

The Japanese yen is the single largest currency being exchanged for bitcoin, accounting for more than 45% of the money flow into bitcoin at the time of the report, according to CryptoCompare data.

The Japanese yen is the greatest currency being exchanged for bitcoin: currently, almost 45% of the money flow into bitcoin.

After the yen, there is US dollar that makes up 30% of the money flowing into bitcoin.

Block size debate

Bitcoin price grew in spite of the current block size debate, an issue related to the transaction capacity and the blockchain speed to validate a transaction.

Bitcoin developers are talking about this issue in order to address it and there are a few proposals such as the so-called SegWit or Segregated Witness that would increase blocks capacity.

 

Read here why you should hold Bitcoin and how.

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
trump bitcoin

Bitcoin Price rose because of Trump

 

 

trump bitcoinAfter reaching a value of $1,840, Bitcoin price is currently stable around $1,820 while I’m writing this article.

The recent growth of the Bitcoin price seems to be affected by President Trump administration and the economic uncertainty of the US.

Or, at least, this is a theory shared on Cointelegraph.

From the first day of his presidency, Trump indirectly influenced bitcoin price through his dubious politics.

Also, Bloomberg reported that the major American stock indexes experienced their worst performance in eight months while the richest billionaires lost $35 billion because of the Trump’s turmoil.

For example, Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg lost almost $4 bln due to the Dow Jones Industrial Average drop of more than 370 points.
Evercore ISI Executive Dennis DeBusschere explained to Bloomberg:

“What has been setting in over the course of the day is that political uncertainty is something that’s likely going to be with us for a significant amount of time. We may be looking at a higher volatility backdrop with a trending lower market for the next couple of months.”

So, during this period of financial uncertainty, investors decided to protect their wealth by investing in bitcoin and gold.

Gold gained around 1.9% and Bitcoin price recorded a 7% growth, almost reaching its current all-time high price of $1,868.

This way, bitcoin seems to become a safe-heaven, with a growing number of investors.

As explained by Cointelegraph, a $10,000 investment in gold back in 2010 would have led to a loss of $20, while a $10,000 investment in Bitcoin would have led to a net gain of $200 mln.

So, investors started to trust Bitcoin, that is considered similar to digital gold, in order to avoid market instability and economic uncertainty.

The US market will struggle to recover during the next few weeks, so Bitcoin price is likely to maintain its upward trend and potentially it will set a new all-time high.

The rise in bitcoin demand within the US is clear and recently the US Bitcoin exchange market passed the Japanese one for the first time in 2017, at least for their trading volume.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
bitcoin regulation

Bitcoin Regulation might be pushed by Apple and PayPal

When the digital currency industry has Apple and PayPal as competitors, those two firms might be the reason for a Bitcoin regulation in the US.

Apple and PayPal joined a group together with Google, Amazon and Intuit in Washington in order to push for more reforms related to the financial system innovation. As we know, in fact, a core subject on their agenda is the creation of a federal money transmission license that would supplant the current state-by-state regime.

Also, last month Financial Innovation Now (FIN), the group that represents these five companies, sent a letter to the Senate Banking Committee proposing new recommendations that ask for the creation of a national money transmission requirement that would be managed by the Treasury Department.

“Consumer protection is a critical part of payments regulation, but it makes no sense for different states to regulate digital money differently from one state to another,” they explained.

The executive director of FIN, Brian Peters, said to CoinDesk the group is taking the money transmission problem very seriously and is looking for a legislative solution.

“This is a top priority for us. We’re proactive pushing for it and we are serious about legislating this.”

Bitcoin regulation benefits

FIN argues that it has no interest in supporting Bitcoin regulation or its industry, but it knows that the development of a transmitter issue is a common benefit.

“None of our priorities really actually delve into bitcoin or the other cryptocurrencies specifically. However, a lot of what we are pushing for does connect to the work many in that community are doing. The main reason we are pursuing it is because our companies have encountered a significant amount of friction and delay in the state-by-state money transmission licensing process. It’s the delay and the friction that’s really a hindrance to the ability to deliver products and services to the market in a way that is consistent with the pace of innovation in the modern economy.”

In addition to the costs to comply regulations, there are a few issues in states where government hasn’t still decide whether digital currencies should be considered as money or be exempted from regulation itself.

A federal licensing system would allow digital currency- related companies to elude state regimes and this could have an exponential growth effect on Bitcoin industry, as explained by the director of research at Coin Center, Peter Van Valkenburgh.

“For people in the US who want to build a business using these technologies, by far the biggest impediment they face is state-by-state transmission regulations. There’s pretty much no question about that. Anything that [FIN] is going to ask for – assuming it’s in line with a federal money transmission license – is exactly what our industry needs.”

So, having a federal option would provide a few benefits related, for example, to the cut of compliance costs for companies and new startups.

“For startups, it’s the biggest thing,” he said. “Right now, you can’t start your business unless you have millions to spend on compliance. And to get venture capital financing, you need to convince your venture capitalists that it’s OK that the majority of their funding is going to lawyers.”

While there have been a lot of efforts with the aim of creating a federal money transmission framework, they have fallen due to a lack of money, leadership, political clout, etc.

But, FIN shouldn’t face these problems, commented Carol Van Cleef, a digital currency attorney with BakerHostetler in Washington.

“I have long said that we’ll get a national money transmitter license when these companies come together. They’re the ones that have the resources necessary to launch the kind of legislative campaign that’s essential to get this through Congress. This kind of initiative requires money and lots of it, solid executive branch and congressional relationships and experience working legislative issues.”

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio