Author: Anna Galvez

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Crypto News

Large Credit Union Coalition Of Canada Teamed Up With R3 Consortium

The Large Credit Union Coalition (LCUC), a consortium of chief information officers (CIOs) from the 16 major credit unions in Canada, has teamed up with the R3, the New York-based blockchain consortium, as announced on July 17th, yesterday.

The LCUC, whose core members consist of over 3 million institutions and account for more than $125 billion in total assets, is now part of the R3 blockchain consortium of over 200 financial organizations, trade unions, and technology businesses to pursue and incorporate Corda. Corda is an open source distributed general ledger platform architected to operate within the financial sector to handle difficult transactions and limit the access to transactional data for increased security.

The LCUC is delighted to work with R3 and explore the space for general ledger technology more closely distributed, building on some of our members’ successes with technology.

Yves Auger, CIO of Servus Credit Union, member of the Large Credit Union Coalition of Canada

The Large Credit Union Coalition (LCUC) of Canada teamed up with R3 Consortium of the blockchain technology

The LCUC aims to create new technologies which would make Canadian credit unions more effective and competitive. The alliance has formerly focused on a number of projects, including remote check deposits and mobile payments. The LCUC is also targeting the areas of artificial intelligence, cloud computing, and payment upgrading, as reported by the official statement.

On the other hand, earlier in July, R3 Consortium reported that it had introduced a build of its Corda blockchain platform focused on enterprises use. Corda Enterprise, purportedly, is “optimized to meet the demands of modern enterprises.”

The Large Credit Union Coalition (LCUC) of Canada teamed up with R3 Consortium of blockchain technology-based companies to implement Corda. By doing so, LCUC members plan to improve their effectiveness and become more competitive in the modern economy.

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Crypto News

Canada-Based Rivemont Crypto Fund Holds Only 9% Of Its Investments Fund In Bitcoin (BTC)

The Canadian-based Rivemont Crypto Fund, managed by a Rivemont The cryptocurrency investments management firm, holds about 91 percent of its $2.3 million in trust assets, with only 9 percent in Bitcoin (BTC), as recently reported by Bloomberg.

The Rivemont Crypto Fund was founded in December 2017 and is reportedly the only actively managed cryptocurrency fund in Canada. The fund is registered with the Ontario Securities Commission, the Alberta Securities Commission, the British Columbia Securities Commission, and is licensed to operate in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP (XRP), Bitcoin Cash (BCH), and Ethereum Classic (ETC).

The fund also plans to invest in Initial Currency Offerings (ICOs) and alternative currencies such as Neo (NEO) and Dash (DASH).

The kernel will probably remain the main cryptocurrency [BTC] because that’s what investors know and want in their portfolio, but I think another half of the portfolio would probably be smaller, more speculative cryptos, and some that we think will probably have a better return.

Martin Lalonde, Rivemont Crypto Fund President and Portfolio Manager

The Rivemont Crypto Fund President thinks Bitcoin (BTC) will double or triple its value in the next two years

Lalonde told Bloomberg in an interview that he invested just over half of the fund’s assets in Bitcoin (BTC) and Ethereum (ETH) when BTC crossed a technical indicator on July 4th, and then switched back

The cryptocurrencies market is not really in a bullish run at the moment, so people are waiting to see if it’s going to go any lower. Those who think that interest in cryptos is running out are not watching closely. The opposite is happening.”

Martin Lalonde

According to Rivemont Crypto Fund, Bitcoin (BTC) will remain volatile but will reach new highs in the next two years, and it would maybe double or triple from where it is right now.

At the moment of this writing, Bitcoin (BTC) is trading at around $7,400, an increase of almost 10% in the last 24 hours.

As unveiled earlier this month, data from Autonomous Research show that the number of funds focused on crypto was estimated at 251 in April 2018, 175 of which were launched in 2017. In 2018, only 26 new crypto-related investments funds have been established, indicating a possible downward trend.

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Crypto News

Mastercard Considers Adopting Blockchain Technology For Faster And More Secure Payments

Mastercard has submitted a new patent for customer protection and payment operations based on blockchain technology based on a patent filing from the US Patent and Trademark Office (USPTO), issued yesterday. The new patent filing features a new form of a blockchain-based open source approach to matching funds between blockchain and fiat accounts.

The Mastercard patent depicts the “management of the fractional blockchain” method of storing fiat money in a primary account and blockchain-based coins in a second account. The new approach would entail a “plurality of account profiles, each profile including a fiat money amount, blockchain currency amount, account identifier and address,” to uniquely authenticate user accounts for trades.

Mastercard points out that the integration of traditional payment systems with blockchain-based coins “can provide consumers and merchants with the benefits of decentralized blockchain while maintaining the security of account information and providing a strong defense against fraud and theft.”

Mastercard is heading towards adopting blockchain technology but didn’t change its position regarding decentralized cryptocurrencies

Mastercard states in the patent application that this new approach enables the evaluation of the probability of fraud or risk related to blockchain payments, since current payment methodologies, such as credit reporting data or demographics, can be supplied by conventional transactions systems.

The patent also establishes that the blockchain-based open approach can shorten the transaction times, while it secures better the user information.

In June, Mastercard had submitted another patent for a blockchain solution to quicken payments and increase their security. The financial services provider had also published a license in April to enable faster triggering of blockchain networks’ nodes.

Even though Mastercard has been progressing in adopting blockchain technology via its patent submissions, it has been increasingly critical in its position regarding cryptocurrency. In the autumn of last year, the company’s CEO described non-governmentally backed cryptocurrency as “garbage.”

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Crypto News

Bitmain Crypto Mining Equipment Manufacturer Expands In Israel And Diversify Its Investments

The Chinese company Bitmain, the largest manufacturer of crypto mining equipment, will triple its workforce at its headquarters in Israel. The company revealed that it would hire 40 professionals to reinforce the staff of 15 currently working in its development center in the city of Ra’anana, in the Central District.

Bitmain, recently valued at $12 billion, told the Globes portal that it would recruit blockchain researchers, senior security and software engineers, marketing staff, Python and JavaScript programmers, and quality control staff, who will be led by Gadi Glikberg, the development center administrator and vice president of the firm.

Bitmain crypto mining equipment manufacturer, far from being cautious about the behavior of the cryptocurrencies market in 2018, has shown signs of continuing to grow and diversify. According to Glikberg, the company has received a significant boost since last year, “as a result of the growing adoption of blockchain technology in general and of cryptocurrencies in particular.”

At the beginning of the year, it became known that Bitmain was building its new headquarters in Switzerland, specifically in the city of Zug, the famous “CryptoValle,” to serve the European market better.

Bitmain, world’s leading crypto mining equipment manufactures, is investing in many cryptocurrency-related projects

In addition to the expansion plans for its headquarters in Israel, the Bitmain crypto mining equipment producer has recently invested in several projects.

In early July it announced the intention to invest $50 million in Opera Ltd, which would give the company shareholder control of the firm behind the Internet browser.

Also, on July 16th, Block.one, the developer of the blockchain EOSIO protocol, the engine of EOS (EOS), said in a statement that Bitmain, along with three other major investors, led the last round of financing for the company. About this investment, Jihan Wu, co-founder of Bitmain, said that “the EOSIO protocol is an excellent example of blockchain innovation.

After its last round of funding, where it raised more than $400 million, representing a $12 billion valuation for the startup, Bitmain officially became the most significant global conglomerate of Bitcoin (BTC) and crypto mining.

Bitmain markets hardware dedicated to the crypto mining, and currently controls 80% of this market. The company was founded by Jihan Wu and Micree Zhan in Beijing and has offices in Shenzhen, Shanghai, Chengdu, Hong Kong, Fuzhou, the United States, Israel, the Netherlands, and Switzerland.

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Crypto Markets News

SBI Holdings Officially Opened Its VCTRADE Crypto Exchange To The Public

After announcing its launch in June and after months of delays, Japanese financial services corporation SBI Holdings finally opened its crypto exchange platform to the public. With the implementation of the project, the financial institution becomes the first bank to offer this type of service.

Named VCTRADE, the crypto exchange platform began operating on Tuesday, July 17th, according to a statement issued by the company through its website, which reports that the institution launched the process for receiving applications and opening new accounts.

Starting accepting applications to open new accounts with our virtual currency exchange service (VCTRADE) today. Account opening is available for people aged 20 to 70 living in Japan. Applications to establish corporate client accounts are not currently accepted.

SBI Holdings

SBI Holdings put its system into operation last June. However, the procedures were only available to those users who signed up in October, when the call was made.

SBI Holdings VCTRADE cryptocurrency exchange allows XRP (XRP), Bitcoin (BTC), and Bitcoin Cash (BCH) trades against the Yen

In total, more than 20,000 customers answered the call and began trading with XRP (XRP), formerly known as Ripple (XRP), in exchange for Yen, the official currency unit of Japan. Although the company initially offered only transactions with XRP, it later added support for Bitcoin (BTC) and Bitcoin Cash (BCH).

As you may recall, the company issued a press release in June of this year informing that it had completed the requirements and paid all the fees required by Japanese law to start operations. In 2016, SBI Holdings laid out a practical route for the creation of its crypto exchange platform. Almost two years ago, they created SBI Virtual Currencies as a first step to launching the new platform on Tuesday.

Other projects such as SBI Crypto, SBI Wirex Asia, SBI Capital Base, BCause, and Digital Asset Exchange were also announced by the bank last year. Each of these initiatives seeks to cover the entire spectrum of cryptocurrency.

SBI Holdings movements in the world of cryptocurrency have also included the purchase, in March, of 40% of CoolBitX, a Taiwanese company dedicated to cold wallets. Another of the corporation’s announcements consists of the one made in April of this year when it was announced that SBI’s Russian subsidiary, known as SBI Bank LLC, established a working alliance with the R3CEV consortium with the intention of using blockchain Corda for its operations.

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