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Canadian Messaging App, Kik, Launches Kinit To Increase Adoption Rate For Kin (KIN) Crypto Token

The Canadian messaging application Kik has just rolled out its first beta application named Kinit, which is linked to the company’s Kin (KIN) crypto token, as reported by TechCrunch yesterday, July 18th. The release follows Kik’s very successful Initial Coin Offer (ICO), which collected $100 million.

The ICO for the Kin (KIN) token came to an end in September 2017, after garnering almost $100 million from over 10,000 entries in 117 different countries. At first, the company was hoping to obtain $125 million.

Kinit is a wallet application developed for an interactive user experience, where people can earn Kin (KIN) by participating in quizzes and viewing interactive clips. Users can trade Kin (KIN) for gift cards from top brands and significant merchants, and also transfer tokens between each other within Kinit.

Kinit is the first public application dedicated to Kin. Our goal with Kinit is to put Kin (KIN) in the hands of more consumers. It is an important step in making crypto truly consumer-friendly through fun and engaging experiences, and we plan to learn and iterate based on user behavior in the real world.

Rod McLeod, Kik’s vice president of communications

The Canadian messaging application, Kik, to increase the adoption rates for its proprietary Kin (KIN) crypto token with Kinit

Kin is an Ethereum blockchain-based ERC20 token to provide liquidity and is rolled out on the Stellar network to boost the transaction speed. Based on TechCrunch’s press release, the Canadian messaging application’s representatives spend approximately $3 million on token developments via its KinEcosystem website.

The Kinit application is reported to be the first attempt to get mainstream users to adopt the Kin (KIN) crypto token.

At the beginning of this year’s spring, Kik announced its intention to team up with Unity Technologies, a video game firm, in a movement aimed at promoting the Kin (KIN) crypto token adoption throughout the gaming industry. As the spokesmen of Kik, the Canadian messaging application, reported back then, the move would “bring this cryptocurrency [Kin (KIN)] to millions of game developers.”

As we speak, Kin (KIN) trades at $0.000170.

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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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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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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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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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