Category Archives: Cryptocurrency

News world

The South Korean government is expected to consider legislation that is intended to increase consumer trust in cryptocurrencies.

South Korean lawmakers will be presenting several bills that will affect the legal status of cryptocurrencies. According to the Korea Herald, Rep. Park Yong-jin of the Democratic Party stated on July 3, 2017, that he will introduce three revisions in July that will build a set of regulatory frameworks for digital currencies. According to Park, the legislation is intended to fill the void of a state-led protection that guarantees digital currencys value, and eradicate the possibility of wreaking havoc on national economy from digital currency bubble burst.

One bill aims to revise the Electronic Financial Transactions Act. If approved, the bill will require traders, brokers, and other businesses involved in cryptocurrency transactions to get regulatory approval from the Financial Services Commission, maintain data processing facilities, and have at least 500 million won ($436,300) in capital.

Tax laws will also be revised to allow Korean financial authorities to pursue tax evaders who do not pay income or corporate tax from digital currency transactions. According to Park and the Financial Supervisory Service, although virtual currency exchanges hold a large amount of market power in the countrys cryptocurrency space, there is no legal ground for their business.

The move for more robust regulation comes after a mishap with South Korean exchange Yapizon, when it fell victim to a massive bitcoin heist in April. In the incident, a hacker swiped four hot wallets and made off with 3831 bitcoin, which at the time totaled to about $5 million. To resolve the problem, Yapizon implemented a clever accounting scheme in which it essentially provided users with IOUs. At the time of the occurrence, the South Korean government authorities lacked regulation to handle such calamities. Parks proposals lookto fill this void and increase trust in one of South Koreas emerging markets.

Cryptocurrency investments have also been on the rise in East Asian markets. To promote growth and innovation in FinTech companies operating in foreign exchange markets, the South Korean Ministry of Strategy and Finance in May decided to revamp capital requirements, which will go into effect July 18.

Dan is a US Army veteran and Los Angeles-based writer passionate about science and technology, current events, human rights, economic impacts, and strategic calculus. Dan is a full time staff writer for ETHNews and holds value in Ether.

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South Korea Will Introduce Legislation To Legalize Cryptocurrencies - ETHNews

Tel Aviv-basedPanda Trading Systems, known for its binary options, FX and CFDbrokerage solutions, hasannounced that it has now started offering trading on cryptocurrencies on all of its platforms, as well as a complete cryptocurrency brokerage solution.

The London Summit 2017 is coming, get involved!

Panda has added support for trading CFDs on sevencryptocurrencies on its existing brokerage packages and platforms Bitcoin, Ethereum, Litecoin, Peercoin, Dash, Namecoin and Novacoin. Brokers can now add these cryptocurrencies to their existing offerings.

Panda has also added a new Brokerage in a Box solution, allowing its customers to set up their own cryptocurrency brokerage entirely from scratch, complete with trading platforms, CRM, client area, PAMM facility and more. End users are currently able to make deposits, withdrawals and have accounts with a base currency in Bitcoin, with Panda promising that additionalcryptocurrency support is currently in the works.

Ori Hazan, Panda TS VP Business Development, commented: Were very pleased to be a part of this exciting new direction the online trading industry is taking. Cryptocurrencies have been on our radar for quite a few years now, but they finally seem to be moving into mainstream adoption and were ready for this change with a complete suite of solutions that have been in development for some time.

At Panda weve always been instrument agnostic, our commitment is to make trading easier and more accessible for all, regardless of what products the market favors. We regard this as an exciting time for traders and are delighted to be at the forefront of this new movement.

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Panda Trading Systems Launches Cryptocurrency 'Brokerage in a Box' - Finance Magnates

Summary

Nicehash is an excellent platform for people looking for multipool mining or a way to buy and sell hashpower. The platform is very transparent about its business and has built up a solid reputation over the past three years.

It is not all that easy to find a legitimate cryptocurrency cloud mining service. Nicehash is one of the few companies people can trust these days. The platform specializes in cloud mining, hash rental services, and multipool mining. It is refreshing to see legitimate companies pop up now and the in the landscape filled with Ponzi Schemes. Now is a good time to look at what Nicehash offers to its customers and why they are so successful.

Most cryptocurrency cloud mining scams ask users to make a Bitcoin investment, so they can earn a passive income. Unfortunately, a lot of those are Ponzi schemes. However, Nicehash is doing things in a professional manner and without putting users at risk of losing any funds. In fact, they are one of a handful of legitimate companies in the world of cryptocurrency cloud mining.

Nicehash first came to the market in April of 2014 and has quickly grown to be one of the most reliable online mining hashrate marketplaces in the world. The company specializes in added-value services for miners, traders, and investors alike. Providing customer support services helped Nicehash achieve success. So far, the team is doing an outstanding job in this regard, as they have no negative reviews.

What makes NiceHash so unique is how they let users buy and sell hashing power on demand. Contracts can run for as little as one hour, and the maximum duration can be agreed upon by the buyer and seller. The platforms marketplace is filled with available orders, which can be filtered based on mining algorithm, and geographical locations. Reducing latency between the miner and the mining pool is of the utmost importance to maximize potential earnings.

It is worth mentioning Nicehash is not the only company providing a cryptocurrency mining hashrate marketplace. Mining Rig Rentals is one of their main competitors in this space, as they provide a powerful service as well. It is good to see competing peer-to-peer mining hashpower rental marketplaces. Competitionallows for far more flexibility than one would get through traditional cloud mining.

Nicehash also provides users with their own mining software clients, which is a nice addition. Plus, their own multipool servers allow miners to point their eligible hardware to the pool and earn mining revenue in the process. Nicehash supports a few dozen mining algorithms, including X11, Scrypt, Keccak, Decred, Cryptonight, and Pascal. Pointing aminer at this pool allows users to earn revenue without having to worry about anything, as earnings are calculated and paid out automatically.

The main question is whether or not miners should sell their hashpower or point it to the multipool. It heavily depends on how much risk one is willing to take. Using the multipool means investing in the mined coins, which can be a financial risk.One could always rent out the hashpower and keep mining the multipool as long as the contract is not picked up by a buyer. That way, users can get the best of both worlds.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Cryptocurrency Hash Rental Service Review Nicehash - The Merkle

News world

Japans end on consumption tax furthers the countrys overall agenda.

As of July 1, 2017, Japanese cryptocurrency holders are now exempt from the eight percent Japanese Consumption Tax (JCT). The exemption is the result of 2017 tax reform revisions which were proposed by the Japanese Liberal Democratic Party and Komeito Party in December. As per the KPMG Japan Tax Newsletter from December 14, 2016:

It is proposed that transfers of virtual currencies will be treated as non-taxable transactions, since virtual currencies were officially defined as a means of payment by virtue of the amendment to the Payment Services Act which was passed in May this year. The document continues, This amendment will be applied to transactions carried out on or after 1 July 2017.

The proposed amendment was passed by the Japanese National Diet on March 27, 2017. Days later, Japans Financial Services Agency authorized cryptocurrencies to be used as a form of payment. As a result, the country has experienced increased cryptocurrency related activity. Further, the country has also taken steps to capitalize upon this action by securing likeminded partnerships with progressive countries like Australia.

The government of Australia also revealed in its 2018 Budget that cryptocurrencies will be exempt from double Goods and Services taxation after July 1, 2017.

On June 23, both countries announced the co-operative framework that would create opportunities and facilitate innovation within the financial service industries of both jurisdictions. The partnership encourages both parties to share with each other vital information on Innovation Functions like cryptocurrencies. As per The Financial Services Agency of Japan:

The Authorities share a mutual desire to promote innovation in financial services in their respective markets. Both Authorities have established Innovation Functions in order to do so. The Authorities believe that through co-operation with each other, they will be able to further the promotion of innovation in their respective markets.

Dan is a US Army veteran and Los Angeles-based writer passionate about science and technology, current events, human rights, economic impacts, and strategic calculus. Dan is a full time staff writer for ETHNews and holds value in Ether.

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Japan Ends Consumption Tax On Cryptocurrencies - ETHNews

It was announced recently from ElliottWaveTrader.net (EWT), a live Trading Room of market analysis, based on Elliott Wave principle, that due to high demand and many requests, they will start a cryptocurrency service based onElliott Wave analysis. To lead this new service, the firm has brought on Ryan Wilday.

Ryan has over 17 years experience trading equities, futures, and options. He was introduced to cryptocurrency in 2013 by a programmer friend and began mining and trading shortly thereafter.

The EWT team stated:

Though he read Prechters Elliott Wave Principle in the early 2000s, he didnt make practical use of the theory until joining EWT in 2015. Today he melds his deep knowledge of the cryptocurrency market with Elliott Wave theory and Fibonacci Pinball.

Ryans service will be opening in August of 2017, more information will be forthcoming on the launch.

ElliottWaveTrader benefits traders looking to anticipate the direction of U.S. & world equity indices, stocks, bonds, precious metals, energy & forex over a time horizon of several days to several months.

The site also features insights and interaction by its community of traders, many of them professionals, as members are encouraged to post questions and contribute their own analysis in the interactive room.

How the cryptocurrency market and certain assets within react to Elliot Wave analysis will be quite interesting to observe.

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ElliottWaveTrader launching cryptocurrency service - CryptoNinjas - CryptoNinjas

Cryptocurrency lending is about to boom. Today, crypto-currency lending is a field that does not have a plausible service provider due to the pseudo-anonymous nature of crypto-currency. The underlying issue with crypto-lending is the repayments of loans. How do people that do not know each other trust each other?

Trustless lending. ETHLend is a decentralized crypto-currency lending application that runs on Ethereum network, which is accessible through MetaMask, an Ethereum network browser. ETHLend solves the issue of trust by allowing the borrower to secure a crypto-loan with ERC-20 compatible Ethereum-based tokens. ERC-20 tokens can represent any value (such as shares or commodities). If the borrower does not repay the loan, the pledged tokens are transferred to the lender, who can sell the tokens on exchange to regain any losses.

Today, tokens are used mainly for fundraising. However, there are tokens that represent value from the real world, such as the DigixDAO token. Each DigixDAO token represents 1 gram of gold by tokenization. Even if tokens are associated with volatility, factually tokens are sufficient for securing a loan. First, the market price of tokens are usually available at different exchanges. Secondly, the volatility can be assessed and taken into account.

Alternatively, ETHLend provides another option, where the borrower can use Ethereum Name Service domain (ENS domain) as a collateral for the loan. ENS domains by design locks Ether (ETH) when the domain name is auctioned. Since ENS domains are transferrable, they can be easily used as a collateral against Ether loans. For example, borrower has ENS domain that has locked 10 ETH. The borrower cannot use this locked Ether. However, the borrower can pledge this domain for a loan to receive 10 ETH. If the borrower does not repay the loan back, the ENS domain is transferred to the lender (who can auction it to regain any losses).

Decentralized lending removes barriers and lowers costs on interest. ETHLend aims to provide a global liquidity pool between peers. The decentralized model and the use of crypto-currency is the proper solution to achieve ETHLends goal. Global liquidity pool means that a borrower in the US would not be limited solely to local lenders and US banks. Instead, the borrower can access funding from all parts of the world, such as Asia and Europe. Moreover, ETHLend wants to remind that there is 2 billion people without the access to any banking system. Lending crypto-currency would mean additionally access to finance for the unbanked.

Big plans for ETHLend. According to the white paper, there are lot of technical upgrades coming up for ETHLend, such as unsecured lending where borrower does not need a collateral to get a loan. Moreover, lending reputation system is about to be launched, where the borrower is rewarded with ETHLends native Credit Token (CRE), which can be used as a collateral by sparing other ERC-20 tokens.

We interviewed the Founder of ETHLend, a law student from Finland and a blockchain developer, to get more insights over the project.

Who are the people behind ETHLend?

We are a dedicated team of 14 people. We are working hard to provide blockchain technology for the mainstream. We want to democratize lending. This means that we want to remove interest rate differences between different countries and provide liquidity to lower interest rates in general. This would mean that borrowers would pay less in interest costs when there is more competition in a global scale. Moreover, we want to serve people that the banks are not serving due to the lack of banking infrastructure.

Is lending secure on ETHLend?

ETHLend is a decentralized application that runs on Ethereum blockchain network. We use Smart Contracts for the loan transactions. This means that each loan that is deployed on Ethereum blockchain cannot be changed, stopped or compromised by a third party (not even ETHLend).

Moreover, since all transactions are decentralized, we do not hold any assets or data. All assets such as ETH, ERC-20 tokens or ENS domains are held by the Smart Contracts. Any lender or borrower can explore loans on blockexplorer, therefore we are transparent by design.

What crypto-currencies can I borrow and lend?

Now, Ether (ETH) lending is available. We chose to use ETH since that is the native token of the Ethereum network that we have built our application on. We are planning to add other cryptocurrencies such as Bitcoin, Litecoin and other altcoins. To get ETHLend to the mainstream, we think that Bitcoin is essential.

Why did you build on top of Ethereum network?

We decided to use Ethereum for three reasons. First, Ethereum has well established Smart Contracts, which allows to perform complex transactions such as lending and handling the collateral. Secondly, by using ETH, we do not have to communicate with two blockchains, which would not be ideal way to start a simple DAPP development. Lastly, even though ETH has a different purpose than Bitcoin, ETH is widely used as cryptocurrency.

How ETHLend differs from other blockchain projects?

We started by developing the application. We first created the decentralized application, instead of writing a white paper and opening a flashy website. I personally wanted to understand how decentralized lending would work in practice. As coming from a legal background and not from technical, I wanted to try it first and then write an analysis on my practical findings, the white paper.

Moreover, we have an amazing team working on ETHLend. I have never seen such extensive collaboration that we have at ETHLend. Practically we are all living in different parts of the world, but initially we have the same goal: to provide fair lending for all by using blockchain technology. We are also happy to have more people involved through our Slack.

What is your focus on the development?

Since we have an Ethereum-based application that runs stable, we are now focusing on adding more functionalities and user experience. Our goal here is to make decentralized lending as easy and accessible as possible. We want to keep the learning curve as low as possible. As a part of the user experience, we are adding more languages and ways to easily calculate the value of the collateral to avoid unnecessary loan requests.

Is there going to be an ICO?

We are going to have a token sale on early September. Our aim is to fund the further development of ETHLend and provide the largest lending market that works on a global scale. We want our future token holders to be part of it.

How the tokens are distributed?

We are distributing 1 billion Credit Tokens (CRE) for sale. There will be no follow up sales and all unsold CRE is burned. Additionally, 300 million CRE is allocated to the development fund as an incentive for our founders and developers to remain with the project. The development fund tokens will have a 24-month vesting model, which means that during this period, tokens are gradually released from lockup on each 6-months-period.

Getting ready for token sale. According to Stani, the ETHLend team is preparing for the upcoming token sale. The aim is to provide decentralized, secure, fair and democratic token sale. ETHLend is currently developing the Smart Contract for the token sale. However, the precise date of the token sale is not disclosed. ETHLend will inform the date of the token sale within couple of weeks.

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The Rise of Decentralized P2P Crypto-Currency Lending - NEWSBTC - newsBTC

Things are not looking all that great for Ethereum right now. The popular cryptocurrency suffereda major crash not too long ago and it remains the market is still recovering. The past two days have heralded another downturn for Ether, making it highly doubtful Ethereum will pass Bitcoin in market cap anytime soon. It seems safe to say more volatility is on the horizon for Ethereum holders.

Looking over the Ethereum price charts leaves traders and investors disappointed, as their hopes for challenging Bitcoins crown subside. More specifically, the ETH price has taken another beating, as it declined by 7.65% over the past 24 hours. This puts the value of one Ether well below the US$300 mark and it is possible this value will keep heading toward US$270 or lower over the coming days. This momentum is not entirely surprising given Ethereums bullish trend throughout the first half of 2017.

It is not hard to forget once ETH was worth under US$11 back in early January of this year. Things have certainly picked up over the past few months, culminating in an Ether price peak of nearly US$400, according to Coinmarketcap. Such a spectacular price increase can only be met with future price volatility, which is what we are seeing on a daily basis right now. Even so, the Ether value increase has been nothing short of impressivethis year.

Ethereum enthusiasts have referred to a phenomenon known as the flippening all year. This trend would occur once Ethereums market cap surpasses that of Bitcoin. Although both currencies were only separated by just US$8bn, the gap has widened once again. More specifically, Bitcoins market cap is close to US$41bn right now, whereas Ethereums is only US$26.32bn. The flippening will not be happening anytime soon at this rate.

The bigger question is why Ethereum is facing such a setback right now. Shifting market conditions are likely the culprit. Moreover, the Ethereum blockchain and its technology are weighed down by the influx of cryptocurrency ICOs. Transactions are confirmed far slower when a big ICO happens, and smart contracts used by these projects often contain issues which need to be fixed later on. The technology is still premature, yet investors also see this can become a much bigger problem if things arent resolved quickly.

Speaking of cryptocurrency ICOs, they have quickly become the main use case of the Ether currency. That is not necessarily a positive development either. With so many projects raising funds in Ether, the chances of a market dump will increase as well. When teams need funding, they will convert ETH to fiat currency, creating negative pressure across the exchanges. When more projects sell off their raised funds, the price per ETH will undoubtedly continue to go down quite quickly. It is unclear if that is part of the ongoing price drop right now, but it is something to keep in mind.

It is unclear what the future will hold for Ethereum right now. The Ethereum price is very volatile, which is only to be expected at this point. However, Ethereum is not a store-of-value by any means. With so many dumb money flowing into Ethereum to participate in cryptocurrency ICOs, it is virtually impossible to determine the real value of the existing coin supply. Technical issues are becoming a major problem as well. If this trend keeps up, the flippening may never happen at all. These are interesting times for Ethereum to prove its value, but so far, the projectleaves quite a bit to be desired.

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Ethereum Price Drops Below $300 Amid Technical Issues and Cryptocurrency ICO Hype - The Merkle

Ibrahim Mohammed is the founder and chief executive and OneGram, a new digital currency, at the company's offices in Emirates Financial Towers in the DIFC area of Dubai. OneGram is partnering with GoldGuard, a Dubai-based online gold trading platform to build one of worlds largest gold vaults inside the Dubai Airport Free Zone. Christopher Pike / The National

As the founder and chief executive of OneGram the Dubai-based technology company behind the first digital currency completely backed by gold - Ibrahim Mohammed is confident his cryptocurrency will be a success, even as competition in the digital currency sphere hots up.

He says with 100s of new coins releasing every day, it is OneGrams unique selling point - the fact that the currency is fully Sharia-compliant - that will set it apart.

The company has already launched an Initial Coin Offering (ICO) offering, which aims to raise more than US$500 million in capital; the tokens were launched on May 21 and will be available to buy until September 22.

OneGram has partnered with GoldGuard, a Dubai-based online gold trading platform, for the offering, with each token backed by one gram of gold, held in a vault at Dubai Airport Free Zone. Only 12.5 million tokens are available to buy in total.

The OneGram currency was created using blockchain technology, a digital method of recording data that underpins the digital currency bitcoin.

While one bitcoin today is currently worth about US$2,500 (or $2,438 at the time of writing), to buy a OneGramCoin would set you back $45 at current market prices.

Almost six weeks after the OneGram coin first went on sale, Mr Mohammed, a British Dubai resident with 10 years of experience running companies whose specialisms have included debt collection and business formation, explains how the new digital currency works and how investors can get on board:

Why did you set up OneGram?

Because of the ruling that happened in November 2016 from the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) with regards to the gold standard. It was the first time gold was deemed to be a sharia-compliant product and it got us thinking. It evolved into digitisation ofgold but then having bigger returns rather than just waiting for the market to go up - so we combined it with a digital currency.

How does OneGram work?

Its like bitcoin; its a digital currency but the major difference to any other crypto is that its backed with physical gold. Putting it very simply, if you have one bitcoin today thats worth about US$2,500 and if it crashes and went to zero youd lose all your money. With OneGram, if you buy today you pay about $45; $41 of that is in physical gold but $4 is in the coin, so if OneGram crashed you would potentially lose $4 and still have $41. Essentially its a digital token - a digital form of payment.

So how can you use this form of payment?

Globally, these kinds of tokens are mainly used in the crypto community by people that believe in [the concept] and are willing to hold it. What we are trying to develop over the next 12 months or so is a payment solution that retailers can adopt to accept payment. At this stage (until the OneGram coin is listed in September), its like holding stocks or shares. The demand is there and the prices are increasing; if you follow the crypto market at all it was worth $20 billion in 2016 and this year its worth $100bn as we speak. Most of that jump has happened in the last five months.

What is driving that?

People see the potential in it. Most governments now are talking about how to regulate the market and control it and bring it into mainstream. The growth is phenomenal. I dont think investors are risk takers because the model of crypto currencies has been proven. Japan has legalised bitcoin; its inevitable that others will follow suit.

How does OneGram work?

Register at GoldGuard.com and where you go to buy you will see the live spot price of gold and it will be a live spot buy. Underneath it you will see the coin value of $4 - thats 10 per cent of the actual transaction and thats the coin fee. You will see a total price of $45; its approximate on the site as its linked to the Allocated BullionExchange's live gold fee. You can transfer funds or buy through bitcoin but we wont accept bitcoin directly as we dont know the source of funds, so we use a company called BitPay in the United States. They do all the verifications, as they are regulated by the US government and they will accept the bitcoin and wire us US dollars.

Is the $4 a fee then?

Its a kind of administration fee because typically in crypto currencies you are paying the whole amount - so if we didnt have gold youd be paying $45 and wed have all money. But we only take 10 per cent which covers operations, staffing, support, marketing, development, blockchain etc. With typical cryptos, if they are selling at $45 they may pay 30 to 40 per cent commission on transactions and theyll sell out in a day or two. Weve adopted a real business model as opposed to a "lets loot type of crypto." So there is a 10 per cent mark up on the price to give our investors the best possible chance of higher returns and that 10 per cent will cover our costs to operate.

What happens when you list?

Then you will have your own wallet and you will hold it on your own iPad, phone or desktop. The coin will be listed on a few digital currency platforms, so any buying or selling happens through those platforms and it goes into the secondary market. In terms of where the price can be at launch and where it can be in 24 months is completely beyond our control. Some analysts have said OneGram is the closest coin that has ever come to knocking bitcoin off its pedestal.

Who are your investors?

As well as crypto tech investors, were getting people that have never invested in cryptoor digital currencies before but because of the gold aspect and the sharia regulatory aspect they are very comfortable. We get customers buying for $100 and in the same day someone will buy $200,000. There is massive interest from Africa and Pakistan, countries we never expected. We now have 4,000 to 5,000 registered users and the majority are non-Muslims;another surprise.

What happens if you dont sell all the 12.5 million coins?

Anything that is left will be burnt wiped away. If we dont sell all of them then it's likely the price will go up as there will be less in circulation. We left the first month open for anyone to buy. Now we have our affiliates, partners that will also sell the coin. The first affiliate is $100m, there are a couple more after that. We are not in any doubt that the coin will sell out.

How many have you sold so far?

Twenty-two per cent of the ICO has already been assigned thats about 2 million coins.

Once the coin is listed what happens to OneGram?

Our ongoing role is to maintain the blockchain and security of it so that the coins can trade. And we make 1 per cent of every trade, the typical fee within blockchain.

Who are you licensed by?

Cyptos are not licensed but the part that needs licensing is GoldGuard, which is a gold trading platform. That is licensed by Dubai Airport Free Zone so we are licensed to trade gold.

Can investors see the gold?

Our vaulting partner may have security issues with that but once we have our own vaulting systems we will be open to anyone that wants to inspect. For verification that the gold exists, our auditors PwC have to physically go and count the gold along with our sharia advisers so I think the investors can rest assured that the gold exists. We buy through ABX and within three days they physically store it for us.

How could it all go wrong?

Its very difficult to go wrong because the exposure is very limited its 90 per cent in gold, 10 per cent in the coin. The demand is there and the market is there so unless someone turns the internet off

Whats next?

Were in discussions about ATM machines. You could have an ATM machine in Dubai, Hong Kong or London where OneGram can be bought and sold across the globe.

ahaine@thenational.ae

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A golden crypto currency you can invest in for as little as $45 - Sun ... - The National

Clients must submit their ID for verification. Rest assured most government of Canada employees will not be interested in doing that anytime soon.

It is always quite interesting to keep an eye on Bitcoin promotional events. Getting cryptocurrency into the hands of as many people as possible is not easy by any means. BitAccess is taking a different approach with their latest airdrop. Canadian government employees can receive CA$5 worth of Bitcoin or Ether free of charge. All they need to do is sign up for the service to get the money. An interesting tactic, but can it ever work?

BitAccess is doing an excellent job to promote cryptocurrency in Canada. It has become a lot harder to buy Bitcoin and other currencies in the country as of late. This has mainly to do with strict regulations. Additionally, several Canadian exchanges have halted operations or were acquired by competitors. It is evident there isnt nearly enough competition in the country right now. As a result, it appears cryptocurrency interest in Canada is slowly waning.

To counter this situation, BitAccess is hosting a promotional event. More specifically, they will give CA$5 worth of Bitcoin or Ether to all government of Canada employees. This is quite an interesting take on things, although it remains to be seen if it can be successful. Government employees will need to create an account with the Canada.ca email address. It is possible most organizations will prohibit employees from doing so, though.

More specifically, obtaining this free credit is not all that easy. Clients must submit their ID for verification. Rest assured most government of Canada employees will not be interested in doing that anytime soon. After all, if they arent interested in cryptocurrency, there is no reason to go through that much trouble. Furthermore, CA$5 worth of Bitcoin or Ether is next to nothing these days. It is a nice gesture by BitAccess, but not one that will see a lot of response.

Then again, it is hard to get government officials excited about Bitcoin or Ethereum. There is still a psychological hurdle that needs to be tackled. Governments will never fully see eye-to-eye with cryptocurrency, that much is evident. Promotional campaigns like these may help alleviate some of the concerns. It will be interesting to see whether or not BitAccess can make any impact whatsoever. Promoting cryptocurrency is the right way to go, that much is certain.

Header image courtesy of Shutterstock

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BitAccess Wants to get Canadian Government Officials Excited About Cryptocurrency - newsBTC

The church/charity ecosystem is in the billions of dollars globally. The Waves based Krosscoin project is a multifaceted project and multinational team that aims to bring much needed and overdue solutions to the church and charity space. Krosscoin will assist big ministries in migrating to the blockchain where products and materials can be paid for by krosscoin or their native asset.

Krosscoin will also create a matching pair with them to promote liquidity. Krosscoin innovative products will also have a global market with applications for different purposes. Ribbon is its first product and will be released at the end of July.

Ribbon is the worlds first multilingual in-messaging app. It boasts of other features which the Krosscoin core team will disclose shortly before its release.

The Krosscoin team however being the first coin to provide solutions for Churches, NGOs and Charities, actually has a global outlook. They plan to participate in the disruption of several industries such as ecommerce ( a product is being developed for that already), banking, business solutions, media, gaming, government, transportation, oil and gas and international remittance. They also aim to merge virtual gaming with real time charity, an interesting thing to see.

Krosscoin has a very strong community on Facebook and on its slack channel, comprising of people from all over the world. The Waves platform and community is definitely benefiting from the strong Krosscoin ecosystem.

Mark Zuckerberg announced on Instagram that Facebook is changing its mission to not just merely connect the world (which they have done very remarkably) but to also promote unity and togetherness, to connect vitally. Krosscoin seems to be at the forefront in this regard to make this possible. Its logo Lets make good happen underscores the teams mission.

Discalimer: This is not trading advice. If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

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Krosscoin The First Church and Charity Centric Cryptocurrency - The Merkle