Russia Crypto Adoption: President Putin Orders Crypto Regulations

Russia Crypto AdoptionRussia Crypto Adoption

According to a document published on the Russian President’s official website, Vladimir Putin has ordered the Russian Government to adopt cryptocurrency regulations by July 1st this year. The move will help Russia crypto adoption.

Setting the deadline, the Russian President has ordered the body to enforce crypto-related regulation for the digital assets industry.

Russia Crypto Adoption

The transcript reads the following:

“Federal laws aimed at the development of the digital economy, including determining the procedure for conducting civil law transactions in electronic form, as well as regulating digital financial assets and attracting financial resources using digital technologies.”

As CoinTelegraph explains further:

“The legislation should also include a regulatory framework for digital financial assets, as well as attract greater financial resources based on digital technologies.”

Putin’s most recent order mimics an order cast last year in which he told the Kremlin to set up regulations for the trade of cryptocurrencies, initial coin offerings (ICOs) and crypto mining by July 2018.

Russia and Crypto Adoption

The superpower has been actively engaging with cryptocurrency. Last month, Russia was reportedly avoiding US Sanctions by investing $10 billion USD into Bitcoin. The news came from a Russian economist with ties to the Kremlin.

It is said that by replacing its US dollar reserves, the superpower’s investment will minimize US sanctions on Russia.

>> Apple’s Steve Wozniak Says Bitcoin has “Massive Value Creation”

Also, in earlier 2018, the country discussed a “crypto alliance” with Iran. The pair spoke about using digital currencies such as Bitcoin as another means to bypass international sanctions. According to Russian news source RBC, both countries were said to be exploring ways to replace the SWIFT interbank payment system and avoid US dollar transactions.

Also in 2018, a study by FatCats Market showed the general acceptance of cryptocurrencies amongst the Russian public. The study showed that cryptocurrencies represent the most significant source of income for 12% of the total population.

What do you think? Is Russia involved with crypto only to avoid US sanctions? Do you believe Russia crypto adoption will better its economy?

Featured Image: DepositPhotos © VitalikRadko

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Samsung Galaxy S10 Supports COSMEE and Other Crypto Projects

Samsung GalaxySamsung Galaxy

It says a lot for cryptocurrency everywhere that one of the biggest phone brands in the world has added support for digital assets in its latest release. Samsung’s new Galaxy S10 series has done just that, with a built-in wallet function for Bitcoin, Ethereum, and two other altcoins.

Samsung Galaxy S10 Supports Crypto

A Samsung official unveiled the phone’s new features at the Mobile World Congress in Barcelona, Spain yesterday.

The phone has been created with “various crypto and blockchain related projects” as standard on the device. It presented COSMEE, a blockchain-based beauty social media platform, as its first dApp partner.

COSMEE

Serviced by Cosmochain blockchain, COSMEE is a well-known dApp in Korea that uses the blockchain to share and log beauty content. Users can earn COSM tokens on the service by uploading beauty reviews within the application. These reviews reward the user COSM cryptocurrency depending on ratings given by other users. Users can spend COSM tokens within the application.

According to dApp Life:

“Cosmochain explains that a trustworthy reward system can be created, as all activities including reviews and evaluations can be recorded on blockchain.”

Enjin Crypto Wallet

The tech giant also unveiled its support for Enjin on the Samsung Galaxy S10. Enjin is a South Korean cryptocurrency wallet that is pre-installed on the phone. Enjin is reportedly capable of sending and receiving ERC-20 tokens and ERC-1155 crypto game assets.

>> Coinbase Pro FINALLY Adds Ripple and XRP Gets a Boost

Galaxy S10

Samsung first unveiled the Galaxy S10 at the Galaxy UNPACKED 2019 event in San Fransisco. Here, it revealed the ‘Galaxy Keystore’, which allows for the safe deposit of digital assets. Until today, the company did not disclose what specific cryptos or dApps it would support. Samsung has been actively engaging with a variety of dApp projects with a means to become a platform supporting a variety of different services.

What do you think of the Galaxy S10 support for cryptos? Is this a bullish move?

Featured image: DepositPhotos © KostyaKlimenko

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EDJX gets funding to power serverless near-edge apps secured by blockchain

EDJX, a distributed edge computing platform and decentralized peer to peer marketplace, has announced launch with $2M in funding from strategic investors, along with key partnerships with ITRenew, Advisian, and Chainyard.

The company aims to power real-time applications at the edge by building the world’s largest edge computing platform using its blockchain-based management of serverless and container-based applications. The funding round included 6Fusion USA, Inc., and 4 unnamed private investors.

“The rush to build capacity at the near-edge – in the last 1000 feet to connected things – will completely dominate the next decade of IT. The near-edge is going to be orders of magnitude larger than what we think of as the edge today.”

John Cowan, founder and CEO

The company intends to deploy tens of thousands of microdata centers called EdjPods to major metropolitan and industrial locations worldwide. The goal is to bring cloud computing closer to mobile and IoT devices to accelerate and secure edge applications.

“Our platform ushers in a new era of applications that will rely on a myriad of sensors and other connected devices to carry out their tasks. These applications will need to process zettabytes of data with low latency to work effectively in real-world environments.”

James Thomason, EDJX’s founder and CTO

EDJX’s platform directs the execution of serverless requests to EdjPods in close physical proximity to mobile and edge devices. Serverless requests are transparently routed to the nearest EdjPod where they are executed inside of an isolated environment. As security is a big concern for edge use cases, each serverless request is validated by and recorded to a blockchain to create an immutable record of execution.

With EDJX developers can:

  • Overcome latency and bandwidth limitations at the edge by deploying serverless functions in close proximity to IoT and mobile devices
  • Enable IoT and mobile devices to securely access and record data at the edge using blockchain
  • Pay as you go for edge computing and blockchain usage

Developed over the past 18 months, EDJX’s serverless edge application platform is now available in early-access.

For IT operators and facility owners, EDJX also creates new opportunities to earn passive revenue while increasing the desirability of their properties. EdjPods are available at no cost to qualified commercial, industrial, and municipal organizations.

By hosting EdjPods operators and owners can:

  • Increase the appeal of properties to prospective tenants who are using edge computing to create smart buildings, cities, refineries, and factories.
  • Create new passive revenue streams connected to the utilization of the EDJX network and EdjPods hosted on premises.
ITRenew and EDJX Partner to Deliver EdjPods Using Circular Economy Practices

ITRenew announced its partnership with EDJX to deliver EdjPod, powered by Sesame. EdjPod is a fully-integrated multi-node server platform for microdata centers and points of presence based on OpenCompute standards.

“Sesame brings the leading technology of hyperscale cloud – low power, automation, scalability – to a broad set of markets and modern global use cases, including edge computing. As the leading provider of circular data center solutions, ITRenew recognized that the missing link in catalyzing the growth of open hardware beyond the hyperscale, is product innovation that enables supply, quality, and supportability for unique customers and globally distributed deployments. EdjX is pioneering modern edge infrastructure at scale – software and hardware – with blockchain and Sesame.”

ITRenew CEO Aidin Aghamiri

Together, ITRenew and EDJX bring circular economy practices to the edge. Sesame is a recertified, warrantied, high-performance open compute and storage product line that maximizes lifetime value and sustainability of IT hardware. EdjPod, Powered by Sesame, is fully self-contained and includes 4 compute nodes along with wireless and network equipment. EdjPods are available in both indoor and outdoor configurations suitable for a wide variety of commercial and industrial settings.

The companies expect to ship up to 10,000 EdjPods in 2019 through 2021 based on current and future designs.

EDXJ Announces Collaboration with Advisian Digital

Advisian Digital, a division of WorleyParsons, announced a joint effort with EDJX to explore solutions to meet the needs of a growing Industrial IoT market in the Energy and Resources industry sector.

“Like many other industries, the Energy and Resources market is undergoing a major transformation fueled by the demand for instant data analysis and workflow automation at the edge. We believe EDJX could accelerate the pace of development and release of groundbreaking solutions that solve real-world challenges.”

Bradley Andrews, President of Advisian Digita

The EDJX joint effort expands upon the companies partnership, which also includes Requis.com, a multi-vertical industrial asset supply chain online platform.

Chainyard and EDJX Partner to Develop Distributed Serverless Applications

Chainyard, a pioneer in the blockchain software industry, announced a partnership with EDJX to co-develop commercial software projects. EDJX expands the horizon of blockchain because it gives developers a much wider scope to build distributed software applications. A global decentralized network of compute capable of executing smart contracts, combined with the ability to leverage the scale and simplicity of Serverless frameworks, is a game changer for Enterprise customers.”

Isaac Kunkel, Chainyard SVP Consulting Services,

Chainyard will unveil a suite of development and support services for enterprise customers to take full advantage of the EDJX platform later this year.

Pricing & Availability

The EDJX platform is available for early access to a limited number of developers and prospective customers. There are no fees for using the platform or edge computing capacity during the early access. Access to the platform will be granted incrementally as the EDJX network comes online. Interested developers and prospective customers should register for early-access at the EDJX web site.

HadePay integrates Bitfury’s Bitcoin Lighting Network API for merchants

Full-service blockchain technology company, the Bitfury Group has announced the integration of the Bitcoin Lightning Network into the merchant payment processing platform offered by HadePay. Merchants across the United States, Canada, and the European Union can now use the HadePay platform to accept Lighting Network bitcoin payments, using Bitfury’s Peach merchant API.

HadePay is a hybrid payment processor offering both fiat and blockchain payments which can be used by merchants all over the world in conjunction with PayPal, Apple Pay, Square and more. HadePay’s bitcoin payment service has now been made available in all 50 U.S. states in a wide variety of industries, including professional services, golf courses, lodging and resorts, non-profit, restaurants and stores.

Led by Lightning Peach, Bitfury’s team of Lightning Network developers, HadePay merchants can now accept Lightning Network payments, improving the efficiency and lowering the costs of bitcoin transactions.

The Lightning Network is a second-layer protocol that operates on top of the Bitcoin Blockchain to enable instant, low-cost micropayments. With the Peach merchant API integrated with Hadepay’s platform, people can quickly and easily complete bitcoin transactions, which can then immediately be converted into another currency through HadePay, if needed by a merchant.

“By bringing the Lightning Network to HadePay’s payment processing platform, we are making it easier for businesses across the United States to accept bitcoin payments. HadePay’s wide network will now be able to accept bitcoin knowing that the transaction will go through almost immediately. The Lightning Network is an essential tool for efficient cryptocurrency payments, and we’re thrilled to be bringing it that much closer to worldwide adoption.”

Pavel Prikhodko, Head of Lightning Peach

“Our customers are excited to leverage much faster, cheaper, and more convenient Bitcoin payments made possible by Peach. Bitfury and the Lightning Peach team are perfect partners due to our shared goal of providing businesses with the most cutting-edge financial technology possible. Bitcoin has always been a good low-cost alternative to fiat payments, but with this integration Bitcoin payments are now equally convenient as our fiat payment processing services, thereby paving the way for mass adoption in commerce.”

HadePay CEO and founder Brian Nichols

ChainEX partners with MenaPay for their first Initial Exchange Offering

ChainEX, a South African based bitcoin exchange, today has announced that they have partnered with MenaPay for their first Initial Exchange Offering (IEO) and is selling MPay tokens from the March 15, until May 15, 2019. ChainEX is the first African exchange and amongst the first exchanges in the world, to have launched an IEO platform.

An Initial Exchange Offering allows an investor to buy the tokens launched through the IEO, first on a crypto exchange. The exchange is basically acting as the intermediary between the startups and contributors. MPay tokens will be sold on ChainEX for $0.165 USD with a 20% bonus for the first 1,000,000 tokens sold and a 10% bonus for the second 1,000,000 tokens sold.

MenaPay is a blockchain-based, non-bank payment gateway focused on the Middle East and Africa. MenaPay is concentrated on developing a large community of consumers and merchants who prefer MenaPay as the primary method of payment for e-commerce, any digital business, offline and ordinary P2P transactions in every aspect of daily life.

Nodesmith enables blockchain node host service for Ethereum

In furtherance to achieving its goals towards simplifying the dApp building process, Nodesmith, a hosting and management provider of scalable blockchain node infrastructure, has released an Ethereum beta version on its platform.

The beta version is designed to eliminate the propagation of calls to eth_getLogs towards the underlying nodes, directing them automatically to Nodesmith’s event cache.

A Self Supporting Ecosystem

Speed is an important factor in the output level of any given developer. Just like a slow internet, unwanted drag during the development and building of dApps is not only frustrating, but can also be distractive. By releasing its beta version which is focused on improving the speed of building on both Ethereum and Aion, Nodesmith claims to have achieved a fundamental solution that contributes towards the mainstream adoption of the technology as a whole.

Despite the growing popularity of blockchain as a technology that has the capacity to impact the world positively, achieving the appropriate conditions for significant adoption has been difficult. Institutional measures have been slow and far-between, while government legislations aren’t all that favorable yet. Therefore, it appears to be incumbent on the technology to find its own place of inevitable adoption through simplification.

Taking it One Step at a Time

According to Nodesmith’s update, this conviction on the important role of blockchain in today’s world is key towards the innovations and developments on its platform. However, the project is adopting the approach of pragmatic idealism, which explains its methodology of an incremental development system.

Prior to this time, Nodesmith has gone into partnership with Aion Foundation to provide simple and scalable JSON RPC API access to Aion network nodes. Therefore, the company describes this recent beta launch as another step towards the provision of the foundational infrastructure of Web3, thereby creating more options for developers.

Our API is compliant with the standard Ethereum JSON RPC interface — we think it’s critically important for developers to have multiple options when it comes to node providers — including the ability to always switch back to a local node with a single config change.”

Brendan Lee, Co-founder & CEO of Nodesmith

Some of the functionalities released on the beta platform are as follows:

  • Hassle free JSON RPC API access to the primary Ethereum testnets — Kovan, Ropsten, Rinkeby, and even Goerli! (mainnet support will be released in about a week).
  • The smart contract event cache.
  • Management dashboard used to create projects, receive API keys, and view stats about your project usage.
  • A robust, scalable, cloud agnostic and global infrastructure. As has been a hot topic this week, running full archival nodes is not a simple endeavor. We’ve put a ton of engineering efforts into ensuring our infrastructure can handle an intense load and isn’t dependent on a single cloud provider.
  • Our existing production service’s functionality — JSON RPC access to the Aion mainnet and testnet.

Having been released to the public, Nodesmith notes that it looks forward to supporting the community as they try out the platform over the next few weeks. Also, feedbacks and reports on bugs are expected to be received.

Hong Kong crypto exchange Gatecoin winds down operation

Gatecoin, a Hong Kong-based bitcoin and cryptocurrency exchange, announced yesterday that it has shut down operations.

In a message left to users on gatecoin.com the team wrote “On 13 March 2019, the court has granted a winding-up order against our company. A provisional liquidator has been appointed and we have to cease operation with immediate effect. Please rest assured that we will assist the liquidation process in order to expedite the realization and redistribution of our assets to the creditors.”

In May 2016, Coingate experienced a hack and theft of ETH and BTC (roughly $2m worth) and with the subsequent rise in prices following this event, it became harder and harder to repay the funds. In the notice left to users, the company also cited financial difficulties with their payment service provider.

The message in full from Gatecoin on the shut down can be read below:

Dear users,

As you may know, following our issues with our banking partners in September last year, we started working with a Payment Service Provider (“PSP”) which is a fully regulated payment institution by the French regulator. However, that PSP failed to process most of the transfers in a timely manner which in turn almost paralyzed our operation for many months and caused a substantial loss on our side.

Even after we managed to mitigate our loss by replacing that PSP with more reliable alternatives to process our clients’ transfers in September 2018, the situation did not improve because that PSP retained a large part of our funds. After months spent trying to recover those funds, we commenced legal action against that PSP but were advised that it is unlikely that we would be able to recover the funds from them in full.

In light of the circumstances, we have suffered financial difficulty over a period of time to the extent that we are no longer able to support our operation. On 13 March 2019, the court has granted a winding-up order against our company. A provisional liquidator has been appointed and we have to cease operation with immediate effect. Please rest assured that we will assist the liquidation process in order to expedite the realization and redistribution of our assets to the creditors.

Once again, we thank you for your support over the years and apologize for the inconvenience that may cause.

Sincerely,

The Gatecoin Team

Waves announces second funding round for Vostok enterprise blockchain project

Waves Platform has announced the details of the second investment round for the Vostok project, which consists of the global Vostok blockchain platform and the Vostok system integrator for enterprise and government IT systems, and already has investors from Europe, Southeast Asia, and China.

The second round will close on May 31, 2019. The plan is to sell 100 million VST at an estimated price of $1.20 – which represents 10% of the future issue. Therefore, up to $120 million will be raised at an estimated capitalization of $1.2 billion. The London investment group, Dolfin will structure and coordinate the deal.

The Vostok project was developed by the Waves Platform team specifically for large enterprises and public institutions, to enable them to build the foundation of next-generation digital infrastructure. It was announced on April 12, 2018, and has since been tested by major global organizations including Sberbank. Currently, negotiations are in place for the first Vostok-backed projects in Europe, Southeast Asia, and China.

In December 2018, Waves Platform successfully closed the first investment round for $120 million with the total valuation of the Vostok project $600 million – a true testament to the flourishing fintech scene coming from and thriving investor appetite the platform has benefitted from already. The rights to 200 million Vostok tokens, or 20% of the future issue, were received by private and institutional investors, who were selected according to their potential benefit to the development of the project.

“The private blockchain platform Vostok will combine technological developments and innovations we tested when building the international Waves platform, with the advantages of other end-to-end digital technologies such as Artificial Intelligence, Big Data analytics and the industrial Internet of Things. In each of our strategic markets, we are launching an integrator company, with the help of which an ecosystem of Vostok solutions will be built. Second round investors will provide us with, among other things, opportunities to enter new markets.”

Sasha Ivanov, founder, and CEO of Waves Platform

“Vostok’s present-day objective is to attract big institutional investors, including mutual funds and venture capital funds. We are delighted to have an opportunity to continue working on this project and are thrilled to see a growing interest in Vostok from businesses and investors alike.”

Danis Nagy, CEO Dolfin

Stellar Development Foundation appoints Denelle Dixon, previously Mozilla COO, as CEO

The Stellar Development Foundation (SDF), a non-profit organization founded in 2014 to support the development and growth of the open-source Stellar network, today announced that it has named Denelle Dixon as its Executive Director and Chief Executive Officer. Denelle will start on May 1st.

Stellar.org’s co-founder and current SDF Executive Director, Jed McCaleb, will move into a role as Chief Architect, where he will focus on the network protocol and Stellar’s adoption strategy.

“We’re thrilled to have Denelle lead the Stellar Development Foundation through its next phase of growth,” said McCaleb. “Denelle’s long experience leading operations and business at Mozilla, as well as her work on the policy side, with advocacy around Open Internet and encryption and privacy, will be indispensable to SDF in the coming years.”

Previously, Dixon served as COO of Mozilla, one of the most successful mission-driven open source organizations. During her tenure at Mozilla, she led the organization’s ongoing fight for Net Neutrality and the global effort to ensure that people can control their personal data. She also pushed Mozilla to understand how to partner with commercial entities while staying true to its core mission of openness, innovation, and opportunity on the web.

Coinbase Wallet adds support for Ripple (XRP)

Popular bitcoin and crypto exchange company Coinbase announced today that its users can now store XRP directly in the Coinbase Wallet app.

Coinbase Wallet already supports Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, and over 100,000 different ERC20 tokens and ERC721 collectibles built on Ethereum.

The new Wallet update with XRP support will roll out to all users on iOS and Android over the next week. Note that the XRP ledger requires that all wallets have a minimum balance of 20 XRP.

The Wallet also supports the XRP Testnet to aid developers and power users.

Private keys on the Coinbase Wallet are encrypted using Secure Enclave technology. This specialized hardware is considered the most secure way to safeguard private data on mobile devices.

Earlier this week, crypto exchange Binance supported wallet, Trust Wallet, announced support for XRP as well.