Author: Anna Galvez

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Crypto Markets News

PAKET Delivery Network Based On Blockchain Plans To Dethrone Industry’s Big Players, Such As DHL And FedEx

The PAKET platform is a delivery network based on blockchain technology and is prepared to dethrone the big players in the parcel delivering industry, including DHL and FedEx, among others. Taking advantage of blockchain technology to create a transparent and accountable delivery process for the international parcel delivery industry, PAKET is close to becoming a fierce competitor for the already-existing conventional names in this sector of activity.

Today’s global package delivery industry is experiencing rapid technological and procedural change as a consequence of the implementation of new technologies and the growth of online retailing, especially.

These changes imply the inflow of new entrants, particularly at the regional level, where the majority of delivery activity is carried out. But the significant roles performed by the majority of the smaller participants in this industry, who form the core of the package delivery environment, have so yet to be adequately acknowledged.

PAKET delivery network based on blockchain technology plans to outperform big players in the industry, including DHL and FedEx

Some huge names like DHL and FedEx quickly pop to mind when we talk about parcel delivery. While these are still the leading international delivery providers, the fast development of online retailing necessitates increased involvement at scales where these significant operators have not been recognized.

The issue with the actual parcel delivery system is that it engages inadequately coordinated centralized bodies that are interconnected by various levels of middlemen. That is a significant loss concerning cost and quality-of-service, allowing for the inadequacies to exist in the present situation of the package delivery industry.

PAKET is an open network, based on blockchain technology, which provides unlimited access to opportunities for all levels of participants in the global delivery industry. Either as a private individual or as a company, everyone can become a member of the unquenchable pool of service suppliers and be paid for the work they perform.

For the end users, this implies a more secure, transparent and trackable parcel delivery network that guarantees an efficient delivery service.

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Crypto News

Lightning Network Reaches Over 3,000 Nodes And Approaches 100 Bitocin (BTC) In Capacity

After expanding its capacity by 85% in July, Lightning Network (LN) on the Bitcoin (BTC) mainnet exceeded 3,000 nodes and got closer to 100 BTC in capacity in the first week of August. The data gathered by the monitoring resources site 1ml.com determined that the LN reached a total funds accommodation of 97 BTC or about $630,000.

Lightning Network experienced rapid growth in July

Initially deployed at the beginning of 2018, the Lightning Network experienced a high-paced growth in Q2 2018. In May, the network’s capacity was somewhere below 18 BTC and had explosive growth in July.

Even though the LN continued to expand rapidly, the relatively new technology keeps rising concerns and critics from a part of the Bitcoin (BTC) community and some crypto enthusiasts, mostly regarding the alleged centralization of the Lightning Network.

In reply to these accusations, the network’s developer, known as StopAndDecrypt, explained how the visual maps only give the illusion of the decentralization.

“The fact of the matter is, this network graph actually does a really terrible job of presenting the Lightning Network to you. It’s pretty and fun to play with, but it does everyone involved an analytic injustice,” the developer asserted in a blog post.

Lightning Network gains support despite its current issues

Also, many crypto fans and blockchain technology enthusiasts complain about the fact that Lightning Network might not have the expected ability to operate Bitcoin (BTC) transactions.

As pointed out in an older article on the Bitcoinist, the developers of the Lightning Network primarily focused on the stability of the network and not on the sums conducted on it, for the moment, so any transaction over approximately three cents is not guaranteed to be successfully carried on.

Despite its current flaws, Lightning Network on the Bitcoin (BTC) mainnet keeps raising the interest of investors, crypto community, and developers. Many came into support, with Charlie Lee, the Litecoin (LTC) founder, leading the pack, who stated that Lightning network would eventually be the “ultimate decentralized exchange.”

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Crypto News

Maerki Baumann Bank Is The Second In Switzerland To Accept Funds From Cryptocurrency Operations

Swiss bank Maerki Baumann will become the second bank in Switzerland to accept money derived from cryptocurrency operations, including funds obtained through crypto mining and the receipt of payments for services rendered.

Maerki Baumann, a Zurich-based bank, to accept funds from cryptocurrency operations

The decision of the financial institution comes at a time when most local banks refuse to accept this type of digital assets and, in other countries, there are regulatory frameworks against cryptocurrency exchange platforms. These decisions confront the most critical position in the community that sees banks as actors outside the cryptocurrency ecosystem.

According to a report released on Monday, August 6th, the Zurich-based bank decided as a response to new market demands and the increasing popularity of cryptocurrencies.

Maerki Baumann informed that it would not offer direct investment in cryptocurrency and other derivatives, as the bank does not recommend making substantial investments in cryptos or maintaining them in the long term due to cryptocurrencies market’s volatility.

In other regions, the banking system and the cryptocurrencies are not getting along as well as in Switzerland

The international banking and financial system face new challenges from the increased use of cryptocurrency. The decentralized nature of cryptos such as Bitcoin (BTC), among others, is rethinking the way users manage their own money without the involvement of intermediaries, and banks don’t like this.

For that reason mainstream banks and financial institutions refuse cryptocurrency. While in some regions of the world there exists openness, in some other areas, especially in South America, the doors remain closed for digital assets.

Some recent cases are, for example, the cessation of operations of the cryptocurrency exchange platform Buda in Colombia due to the company’s bank accounts closure by several mainstream banks.

However, fortunately, Switzerland shows a greater openness to cryptocurrencies, and, recently, the Zurich-based Maerki Baumann bank accepted cryptocurrency operations.

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Crypto News

Only 10% Of Cryptocurrency Transactions Are Used For Illegal Activities, According To DEA

According to information provided by Lilita Infante, a special agent with the US Drug Enforcement Administration (DEA), currently, only 10% of the cryptocurrency transactions are used for illegal activities. Infante provided this data during an interview, published on Bloomberg’s website, in which the agent states that five years ago the percentage of criminal acts involving cryptos was 90%.

Infante noted that illegal activities are carried out mainly through the dark web, where illegal products are sold in cryptocurrency, making this practice an increasing trend in the last year. Thus, the report indicates that it is criminal organizations, such as drug cartels, that increasingly use digital assets in their operations, ranging from money laundering to cross-border transactions in crypto coins.

For the official, this is because these organizations that operate outside the law find it cheaper, faster and safer to carry out operations with cryptocurrencies than through the traditional banking system. However, this situation is going to change.

In this regard, Infante states that both the Bitcoin (BTC) platforms, as well as other cryptos’ underlying blockchains, become resources that make it easier for agents to track transactions and identify the people involved.

Privacy-focused cryptocurrencies, like Monero (XMR) and Zcash (ZEC), are not liquid enough and, although they are more anonymous than Bitcoin (BTC), we still have ways to track them down, too.

Lilita Infante, Special Agent, DEA, United States

The data presented by Lilita Infante contrasts with previous studies regarding cryptocurrency transactions for illegal activities

The information provided by this DEA agent can be contrasted with the results of some reviews on the use of cryptocurrency for illicit activities. Among them, we can highlight an investigation carried out by the European Parliament last June, which concluded that there are hardly any public documents and confirmed cases of terrorist financing involving cryptos.

Contrary to what the DEA agent said, European parliamentarians do foresee a long-term advance in cybercrime, due to the development of private cryptocurrencies and greater adoption of cryptos and underlying blockchain technologies linked to social networks and online platforms.

However, the European Parliament’s study agrees with Infante and other research conducted in 2017 by New York University Law School that criminal organizations use digital assets to sell/buy goods on the dark web and to transfer funds and securities through decentralized platforms.

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Crypto News

Joao Amoedo, Presidential Candidate Of Brazil, Thinks Cryptocurrency Can Be A Viable Payment Method

Joao Amoedo, presidential candidate of Brazil, for the New Party, has expressed that a cryptocurrency like Bitcoin (BTC) can be a viable payment method in the country, as long as there is a regulation that supervises its use. The information was presented in an interview the candidate gave to a local media in recent days.

According to Amoedo, Bitcoin (BTC) should receive the same regulatory treatment as a fiat currency like the US Dollar, which could be a very controversial issue for the Bitcoin (BTC) community.

It must be made clear that the country [Brazil] has only one national currency, the currency which is legal tender, that is to say, the currency which the persons are obliged to accept as the real currency (…) Also, there are restrictions on the use of the US Dollar for payments and as an account currency, which should be the same for any other foreign currency, including cryptocurrency.

Joao Amoedo

At this moment, there is no regulatory framework regarding cryptocurrency use in Brazil

Currently, no legal framework regulates the use of cryptos in Brazil, despite the debates in Parliament on blockchain technology. The presidential elections to which Amoedo would be running are scheduled to be held in October, and his proposals could only materialize if he is elected.

Amoedo was very open to distributed ledger technology, believing that it could significantly reduce bureaucracy in public institutions by integrating it into real estate registration, document authentication, and electronic signature recognition.

Joao Amoedo also praised the advances in digital identity made thanks to blockchain technology, as well as its application in the supply chain, data transparency, and voting systems.

Since 2015, there has been a conflict between banks and cryptocurrency exchange operators in Brazil, which has led to the closure of some bank accounts belonging to a few exchange platforms and the subsequent reactivation of some of these blocked accounts.

Regarding this conflict, the Brazilian presidential candidate claimed not to have a specific position. In fact, Amoedo believes that the more competition there is in the cryptocurrencies market, the better it is.

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