MoneyGram received an additional $11 million investment from Ripple

Money transfer service MoneyGram has received from FINTECH start-up Ripple $11.3 million investment over the second half of last year. It is reported by CoinDesk, citing statements to the Commission on securities and exchange Commission (SEC).

Funds from the California startup has received two tranches of $2.4 million in the third quarter and $8.9 million in the fourth.

«Being the first money transfer service, large-scale involved of the ability of the blockchain, MoneyGram expanded its strategic partnership with Ripple», — reported in a press release.

The new document is not specified, which was sent $11 million investment. However, the report for the third quarter States that the funds will enable MoneyGram to involve the solution of On-Demand Liquidity (ODL, formerly known as xRapid) for cross-border payments:

«The company expects that this large-scale partnership will reduce its working capital needs and provide an opportunity to generate additional cash flow and profit»

At the end of last year, MoneyGram announced the beginning of active use of ODL on the basis of the token XRP from Ripple. According to the head of the company Alex Holmes, ODL handles 10% of remittances between the U.S. and Mexico.

We will remind, the transaction is $50 million between Ripple and MoneyGram was closed at the end of last year. According to its results, the California startup owns 9.95% of the shares in the money transfer service.


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CBR: scammers are using bitcoin to steal money from gullible Russians

Promises of investments in the cryptocurrency, the organizers of financial pyramids in the Internet used in the year 2019 most often to raise funds for the Russians. About it have informed «news» the Bank of Russia.

One of the largest of the pyramids last year, the Central Bank believes AirBitClub, attracting investments to issue its own digital currency. According to preliminary estimates, it was involved in about 60 thousand people, and the amount of investment exceeded 500 million rubles.

In addition to the large pyramids on the market there are many such small projects, which can attract up to 30 million rubles.

Experts believe that the popularity of cryptocurrencies environments fraudsters due to the rise of the price of bitcoins in 2017 and also absence in Russia the regulation of scriptaction.

Earlier, the Central Bank saidthat in 2019, the regulator has identified 237 organizations with signs of financial pyramids, which was the highest figure in five years their search.


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Blockchain in the economy of Australia: how advanced technology is changing the world

Article

Dreams that blockchain technology will change the world will become a reality (very soon). The Australian government has developed a road map for the integration of the blockchain in the economy and the next 5 years will devote to the implementation of these plans. Under the new national strategy the government will rebuild infrastructure and improve the banking, export, education and other sectors using the technology of the distributed registry. The plans also include support and funding CryptoStream. According to preliminary estimates, the new direction of development by 2025 will bring into the economy an additional $175 billion a year. Read more about the ambitions of Australian officials and their impact on the crypto-industry — in the material DeCenter.

Beauty is a trillion

Australia aiming for the title of world leader in the field of digital technologies on the basis of the distributed registry. In March 2019, the government allocated $100 000 to develop a road map for mass integration of block chain technologies in public infrastructure. Almost a year later, in early February, 2020, the Ministry of industry, science and technology, Australia has officially announced the successful completion of the work.

According to the published road map, the country is building a truly Grand plans and no less Grand is going to bring them to life. In a 52-page presentation of the lion’s share of material on the blockchain technology and the pace of its development. According to Australians, it is the most advanced digital technology of today, and to ignore it is a crime. In Australia alone the popular segment is growing at an unprecedented pace. For example, demand for blockchain-specialists from 2017 to 2018 grew by a crazy 300% and still significantly exceeds supply.

The demand for blockchain professionals in Australia is constantly growing. Source.

However, the complexity of the technology hindering its growth. This applies to both regulatory and technical aspects, which integrate the blockchain in a particular economic sector is not the easiest task. Do not forget that a huge number of people still do not understand how it all works, and simply are not aware of all prospects of such integration. Australian authorities intend to solve each of these problems.

The current road map is designed for 5 years. During this time the country will implement blockchain technology in various sectors of the economy:

Finance,

trade

health,

energy

water,

agriculture and

education among others.

Due to the transition to a new vector of development, the state expects to build «a future based on blockchain» to create new jobs, simplify the work of banks, increase productivity/profitability, to improve the quality of educational institutions, reduce fraud and, eventually, to provoke new economic growth.

Ambitions in the last question look the most impressive. According to the expectations of the Ministry, this step:

Already by 2022 will save us $15-20 billion a year in financial services.

By 2023 through the blockchain every year there will be about $2 trillion.

By 2025, due to the blockchain technology total business revenue will grow by $175 billion a year. The same, but in yuan, recently printed China that the stock market has avoided disaster on the background of the coronavirus.

By 2030, the business of Australia is already not accumulate additional 175 billion, and as much as $3 trillion.

The new policy of the authorities is also aimed at active legal and investment support CryptoStream.

Despite the fact that at the moment the government has not yet allocated a budget for the implementation of the roadmap, in General, expected to powerful funding for the entire blockchain sector, although specific figures are not called.

Here’s how commented on the new strategy the Minister of industry, science and technology Karen Andrews: «the Most exciting is that the blockchain is able to strengthen export opportunities, helping Australian producers to track their products that are in demand all over the world with our clean, green reputation.»

Twelve steps on the path to success

Five-year plan for Australia involves 12 steps, and DeCenter walked on each. In the list of goals:

To develop a high quality regulatory framework to regulate the blockchain sector. This will be formed a special steering Committee responsible for the implementation of the road map. Over time, the Committee will be able to enter all sorts of authorities. The Committee will not only help with regulation, but also to promote the initiative among entrepreneurs of the country, and also provide support when you create a new blockchain projects.

To form working groups for finding new and analysis of existing applications of the blockchain technology. This item involves close model of cooperation between entrepreneurs, researchers and government.

Thoroughly examine the possibility of integrating the blockchain in agriculture, education and Finance. In case of successful results of the economic analysis, to begin working on projects.

Partly to introduce the technology to the work of the government, collecting feedback and analyzing the results. If successful, increase the number of government blockchain integration.

To analyze the experience of other countries and to establish international cooperation with countries already actively using the blockchain. For example, Estonia, which applies the technology across the whole state, at least could help the Australians a couple of useful tips.

Close cooperation with suppliers blockchain and decentralized application developers. To attract them to participate in the state initiative «Business-research and innovation».

To see that in the political arena the question of integration of the blockchain has always been important and relevant.

To improve the level of crypto-education in the country, helping industrial establishments and educational institutions to develop programmes for the development of blockchain technology.

Together with Austrade, the Australian government Agency for trade, investment and development, to develop development programs for the Australian blockchain-related startups. Australia intends to support the initiatives of businessmen and support them towards global expansion.

Also in conjunction with Austrade to develop a programme to attract investors wishing to invest in developing blockchain ecosystem of the state.

Try to enter into partnerships with other countries to share the blockchain technology and/or develop new DLT projects.

To ensure that all Australian businesses a convenient opportunity to connect to the digital commercial infrastructure, without encountering obstacles from regulators.

Blockchain in the agricultural sector

Australia plans to implement the blockchain in all sorts of industries, but at this stage most seriously considering three sectors. The first of them is agriculture.

Problem:

The country is famous for safe, quality and tasty agricultural products. Especially wine exports which last year reached $1.9 billion, But the reputation is spoiled by the abundance of fake goods. So, in 2017, cyber criminals have released to foreign markets thousands of bottles of counterfeit Australian wines in the amount of $303 million, despite the many rigorous and costly audits.

Solution:

Using the blockchain Australia intends to improve control and ensure high quality testing of products at all stages of the supply chain. And without any extra costs. Moreover, smart contracts will help to automate the calculations between employees and enterprises involved in export trade. The government intends to monitor the quality of the wine, since the grape beds, controlling using the blockchain even level of temperature of production. Also, the technology of distributed registry will eliminate unnecessary procedures (same checks), saving money, time and reducing the level of bureaucracy.

Every year Australia sells abroad 774 million liters of wine. Most buyers are from China. Source.

Blockchain in the education sector

Problem:

Fake diplomas, fake recommendations, distorted summary — a big problem. A quarter of Australians lie in summary then, four years ago, local regulators found an employee who for 15 years held senior positions in the public and private sectors through fake diplomas, a certified justice of the peace. To verify the authenticity of a document difficult, time consuming and expensive, and in some cases almost impossible.

Solution:

Australia plans to store data in a decentralized distributed registry where they are impossible to forge or to remove. Instead of diplomas people have links to personal information that they can share. This will not only reduce the level of fraud, but also reduce transaction costs for employers to check and verify the credentials.

Blockchain in the banking sector

Problem:

Australian authorities are interested in high competition among financial institutions, but half of all life uses the same Bank. One of the reasons is the complexity of KYC procedures, which must be held again during the transition from one Bank to another.

Solution:

The blockchain can not only improve the performance of Australian banks by analogy with foreign colleagues, but also to simplify the KYC procedure, motivating people to switch from one Bank to another. Using the blockchain Australia wants to provide an exceptional level of data integrity in the exchange of KYC information between banks. The results of the checks will be sent safely, quickly and with the highest level of confidence that will allow you to avoid having to undergo the procedure in each Bank again. Moreover, it will simplify record keeping and eliminate unnecessary manual operations, which will reduce the time and, again, money. Without the blockchain 80% of the resources aimed at combating terrorism and money laundering, go to the collection and processing of information, and not on risk assessment.

The blockchain relies not only Australia

A huge number of countries raise the question of the establishment of a national cryptocurrency, but much less deal with the massive integration of the blockchain in the economy. However, the initiative at the state level still becomes more popular.

  • According to the document Centre the fourth industrial revolution UAE using blockchain can save at least $3 billion, to get rid of 398 million printed documents and reduce the number of working hours in 77 million for the year. Now the UAE authorities focus on new features.
  • As we wrote above, in this field very active in Estonia. She already uses blockchain technology in medicine, banking, stock trading and notarial sector, and local shops do not hesitate to accept bitcoins. However, the scale of the state with a population of about 1.3 million people is too small to form a new trend at the international level.
  • But China is another matter. In late October, the President of China, XI Jinping has ordered to increase investments in blockchain technology and accelerate its development, and the government adopted the law on the regulation and stimulation of development in the field of cryptography. Even in the fall there were more than 500 blockchain projects, including giants such as Alibaba, Tencent, Unionpay.

Australia and China are moving the world towards a massive integration of block chain technologies

Australia is a large country with a strong economy and well-functioning international trade. Their initiative, I want to applaud, because the country intends to develop blockchain technology that is at the state level, which means the legalization and support of cryptoprocta, and also eliminates a lot of pressure on them by regulators in the United States.

This is an important step for the whole crypto industry. At the beginning of the new decade Australia together with China will start the path to the dream of crypto-enthusiasts about the introduction of blockchain technology worldwide. Why in the world? Because if the initiative two huge economies are successful, their experience will inevitably begin to adopt other States. Moreover, it will contribute to the close cooperation of Australia and China with other countries. Naturally, this will have a positive impact on the cryptocurrency market: the mere raising of the level of blockchain education will force new players to pay attention to digital assets, thanks to which, in General, and has appeared on blockchain technology.

Frankly, the results expected by Australia, look very optimistic, especially when we are talking about trillions of dollars of additional income after 10 years. But the truth is that if their plan works at least 10-20%, it prostimulirujte other governments to consider similar solutions. What can motivate better than the success of neighbours? Maybe in 10 years we will be actively using the blockchain in everyday life — today we are this step closer.

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Anthony Pompliano: In my crypto-portfolio XRP will not be

In an interview with CNN, co-founder of Morgan Creek and an ardent supporter of bitcoin, Anthony Pompliano said that he will not buy coins XRP. Of all cryptocurrency businessman identified only BTC and said he did not believe in the prospects of the remaining projects.

By purchasing a particular digital asset (not bitcoin), you actually make the same investment, as it is all similar to each other technology projects. However, the only and most promising asset is only bitcoin.

On the topic of investment in XRP, of Pompliano said investors may not invest directly in the token. They have the ability to invest in other products Ripple – for example, xRapid and xCurrent.

Cost XRP formed by speculation. This project is centralized, and there are players who can influence it.

Co-founder Morgan Creek said:

Ripple is a company, and XRP is a token. Those are mistaken who think that buying XRP, they have an impact on the financial performance Ripple. It is obvious that it is not. If Ripple is successful, it does not mean that XRP will be successful.

At the end of the interview, Pompliano said that half of its capital already invested in bitcoin. However, the businessman refused to say how much BTC he controls.

According to him, mining is rapidly transferred to renewable energy sources. This is why mining bitcoins is becoming a sustainable enterprise in contrast to other sectors of the economy.

The key growth driver BTC is the fact that more and more investors begin to accept cryptocurrency as a safe-haven asset, summed up Pompliano.



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Inflation EOS will be reduced from 5% to 1%

Community members EOS endorsed the proposal to reduce the inflation of a cryptocurrency.

The CEO of the developer Block.one Brendan Blumer on 25 February reported that community members routinely approved the reduction of inflation from 5% to 1%.

«Today I woke up and found out that the proposal to reduce the inflation of the network of EOS from 5% to 1% was proposed and approved by the community in one night. It is a Testament to the power of decentralized management and networks are designed to work in the interests of their participants,» he wrote.

The question of reducing inflation EOS has been repeatedly raised earlier, but did not receive sufficient support. The system of inflation were laid down in the Protocol of the core network EOS during the launch phase. 1% inflation was distributed among the manufacturers of the blocks, while 4% went into a savings account eosio.saving. It was assumed that these funds will be used to Finance various projects, but the lack of consensus about how to do this better, leading to inability of their spending.

Together with the decision on reduction of inflation, all 34 million tokens on the account eosio.saving were burning. From now on, all inflation will be distributed to manufacturers units.

Previously Coinbase exchange has restricted operations with EOS, citing the problems in the cryptocurrency network, which is challenged by the leading manufacturers of blocks.

EOS is falling today along with the broader cryptocurrency market, and at the time of publication was trading at $3,90, thus losing two weeks 30% of the cost.



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MoneyGram Ripple received from additional investment of $11 million

The company processing money transfers MoneyGram received $11.3 million investment from FINTECH start-up Ripple in the last two quarters 2019, writes CoinDesk, citing statements to the Commission on securities and exchange Commission (SEC). Of which $2.4 million was granted in the third quarter, and $8.9 million in the fourth.

«Material benefit» for the fourth quarter, as he calls her MoneyGram, were not included in the $323,7 million of the company’s revenue for the period. On the recommendation of the SEC, it was considered to balance the operating costs. The result of the MoneyGram had to reduce the amount of income, however, the costs decreased by the same amount, bringing the total profit remains unchanged.

«MoneyGram has continued to expand strategic cooperation with Ripple as the first company on remittances, involving large-scale capabilities of the blockchain,» – said in a press release.

MoneyGram previously reported that uses a variety of Ripple products including On-Demand Liquidity on the basis of the cryptocurrency XRP.

A recent report by MoneyGram does not specify where did $11 million Ripple, however, the document for the third quarter, it wrote:

«The company receives payments from Ripple on the development and provision of liquidity of foreign exchange markets serviced bloccano Ripple, as well as providing a reliable level of trading activity on the exchange of foreign currencies. The company expects that this cooperation will reduce our working capital needs and to obtain additional income along with cash flows».

During the last conference call regarding financial results, CEO MoneyGram Alex Holmes, said that his company intends to launch a new payment corridors on the basis of technology RippleNet.

Ripple and MoneyGram announced the start of cooperation in June 2019. Then, under the agreement, Ripple has agreed to provide MoneyGram up to $50 million investment.



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Research digital of the yuan has stalled due to the outbreak of coronavirus

The people’s Bank of China postponed is scheduled for the first quarter of the study digital of the yuan due to the outbreak of coronavirus, reports Global Times, citing informed sources.

However, the digital currency of the Central Bank (CBDC) is likely to happen according to plan because the Agency «has a technical base, resources and expertise» sufficient for this.

The pilot launch of CBDC is to be held this year. However the Central Bank continues to discuss the most suitable scenarios for the application of the new means of payment.

«The outbreak of coronavirus was the cause of delays in the work of government agencies, including the people’s Bank of China. Working on CBDC officials and researchers are no exception», — said the source.

We will remind, earlier ex-the head of the people’s Bank of China, Lihua Lee expressed the opinion that due to the outbreak of coronavirus, the office may activate the development of digital yuan.


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The crypto currency exchange CEX.IO launched the platform for margin trading CEX.IO Broker

Sponsorship

The cryptocurrency exchange CEX.IO launched the platform for margin trading CEX.IO Broker in an open beta. This was reported in the official press release of the project.

CEX.IO Broker — derivatives platform for trading digital assets through contracts for difference (CFDs).

The launch of the platform took place on 1 April 2019. Until January 30, 2020 CEX.IO Broker worked during the closed beta.

CEX.IO Broker supports:

  • seven of cryptocurrency pairs BTC/USD, BTC/EUR, ETH/USD, ETH/EUR, ETH/BTC, LTC/USD, LTC/BTC;
  • popular types of orders: market, limit, stop orders;
  • trade with leverage up to 10x;
  • tools for technical analysis;
  • subaccount for independent trading strategies
  • demo account for testing trading tools;
  • trading in the spot and derivative markets through a common custodial wallet.

In February 2020, the developers have translated the interface to the CEX.IO Broker in Russian language. In addition, they launched around the clock support for Russian-speaking users.

«We offer traders a wide range of opportunities for margin trading cryptocurrencies. Our task — with a simple interface, high security and control risks to provide access to professional trading tools for experienced market participants and newcomers» — said technical Director of CEX.IO Group Dmitry Volkov.

CEX.IO is a group of companies with registration in the UK. CEX.IO started in 2013 as a provider of cloud mining. In 2015 the project works in the field of trading.

In the ecosystem of the CEX.IO include: crypto currency exchange with the support of staking CEX.IO Exchange platform for margin trading CEX.IO Broker, cryptocurrency wallet CEX.IO Wallet, the liquidity aggregator CEX.IO Aggregator and KYC provider Identance.


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Acne Buterin shared details of the launch of Ethereum 2.0

Ethereum co-founder Vitalik Buterin told about the plans for the deployment of Ethereum 2.0 and explained that the main priority of the development for this year is the launch of phase 0.

Acne Buterin revealed plans for the development of ETH 2.0 in an interview with Cointelegraph during Stanford Blockchain Conference. Co-founder of Ethereum said:

«Phase 0 is the first stage of the launch of Ethereum 2.0. It activates network c algorithm PoS, which will be completed this year».

Although the official launch date of phase 0 is still not assigned, Buterin explained that the developers are close to launching a test network for multiple customers and the completion of audits of the existing code:

«Now is a lot of optimization phase 0, which we will continue to improve over the next few months.»

Road map Ethereum 2.0

After the start of phase 0, ETH 2.0 will begin work as an independent network on the basis of PoS. He explained that the goal is to allow the PoS system to start slowly and improve its capabilities over time. He explained:

«Ethereum 2.0 will start without the applications and will have a small number of validators».

Phase 1 ETH 2.0 will be launched afterwards and will allow you to use sharding. According to the blog post from the client test network ETH 2.0 Prysmatic Labs, ETH 2.0 will have a main chain — Chain Beacon. She will coordinate all 64 sidechained (Sharda). Recall that the test Ethereum network 2.0 from Prysmatic Labs was launched on 9 January and in the middle of the same month recorded the presence of 22 000 validators.

Each shard will act as a complete PoS system that contains an independent fragment of the status and transaction history. Instead of processing all network transactions, each node will process only transactions for a specific segment. When properly implemented sharding will provide a solution to the problem of scalability of Ethereum without compromising security and decentralization of the network. Buterin noted that once the network is ETH 2.0 confirm a stable job and a valid blockchain Ethereum 1.0 will be integrated with the system 2.0.

Problems and PoS solutions for scaling

In early February, the team Ethereum 2.0 spent the session answering questions on the forum Reddit. During this event, the users expressed the greatest concern because of the transition to the consensus PoS. When working on the PoS asset holders receive a remuneration for participation in the protection and validation of transactions in the network. The Ethereum 2.0 will require at least 32 ETH users who want to act as validators. Then one user expressed concern about the growing disparities of income in the model of PoS, which «encourages the rich because they have more money.» However, a developer Danny Ryan responded that PoS is actually fairer than the PoW:

«In both cases, the ownership of an asset allows you to achieve the profit from that asset. The difference between them is that in the PoS conversion of capital into income is much more direct and equitable (that is, buy the token, block the token to perform the duties, to make a profit)».

Buterin confirmed this view and noted that while ETH 2.0 is tested and developed, creating new solutions for scaling, compatible with Ethereum and are able to eliminate some of its major problems.

For example, Optimistic Rollups – a decision that belongs to a new family of solutions to scale Saidjanov. Recently the developers of this decision has released an alpha version of the virtual machine for application of the second level on the Ethereum.

Co-founder and chief engineer Offchain Labs Edward Felten (Edward Felten) argues that the decision of his company Arbitrum Rollup is now available in a test network. Arbitrum is the first solution rollup for smart contracts. Felten explained:

«Offchain Labs trying to improve the efficiency and reduce the cost of smart contracts on the Ethereum so that they were compatible with the existing blockchains Ethereum».

According to Felten, applications that are written as smart contracts Solidity, can be included in the tool chain Arbitrum. This creates opportunities to deploy a custom saidchina for applications developer, but the security of these applications is bound to the main chain of Ethereum. He said

«The application has a group of participants who will collaborate for improvement. However, their actions will be checked in the main Ethereum chain, ensuring that the security provided by the network. We carry almost all the work of the main chain in the application for participants who in fact is the usual computers that are not participating in the network.»

Felten made clear that Offchain Labs does not compete with Ethereum team, and offers a compliant solution to the second level to address scaling issues. Felten when asked whether ETH 2.0, if you already have Arbitrum, he said

«We hope that Ethereum 2.0 will bring the expected benefits for up to the second level like ours, but we will not passively wait for that to happen.»



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Polkadot uses decentralized oracles Chainlink in its ecosystem

Chainlink has completed the initial integration with bloccano on the platform Substrate. Polkadot developers called it a milestone in the implementation of a network of decentralized oracles Chainlink in the ecosystem of the Protocol.

«Chainlink is the first and main supplier of oracles for circuits based on the Substrate and ultimately the entire network Polkadot», — said in a press release.

Platform for the launch of the block chain Substrate, developers Parity Technologies has introduced in 2018.

Oracles required for the execution of smart contracts and work DAppsthat use data from outside their own blockchain. The provision of reliable information channels to a third party allows to achieve the interaction of various networks and expand the scope of smart contracts and DApps.

According to the statement, blackany ecosystem Polkadot will be the first outside of the Ethereum system that use oracles Chainlink.

Developed in 2016 Protocol Polkadot aims to provide bridges between different blockchains. For this it uses technology Parajanov is a kind of parallel circuits.

To run the core network Polkadot information channels Chainlink will serve experimental Protocol Kusama, launched last year. However, parcan between Kusama and Chainlink is still in the development stage.

Integration began with an unnamed block on the platform Substrate that became the «proof of concept» for the solution.

The developers noted that the integration of a network of oracles Chainlink on a dedicated paracaine will reveal several options for using Polkadot.

We will remind, after a successful private licensee, conducted last year, the capitalization of the project Polkadot reached $1.2 billion.


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