Category: News

Categories
Crypto News Tech

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.

Categories
News Tech

Samsung Galaxy S10, Note 9 and iPhone 9 to Come with Gorilla Glass 6

Gorilla Glass 6 has been officially announced overnight by Corning, preparing a new, highly resilient material to protect mobile phone screens around the world. Corning provides front-end protection panels for screens from a variety of manufacturers, from Apple to Samsung, Huawei, OnePlus, Sony etc., and Gorilla Glass 6 could take place in the Samsung Galaxy S10 and the iPhone 11.

Gorilla Glass 6 is the most durable protection for smartphone screens, as has happened with every version released to date by Corning, but it remains to be seen if the promises are real. Gorilla Glass 6 should provide protection for phone screens, even if they are dropped up to 15 times on a hard surface from a height of up to 1 meter, offering protection 2 times better than Gorilla Glass 5.

“Gorilla Glass 6 is an entirely new glass composition that can be chemically strengthened to give it significantly higher levels of compression than is possible with Gorilla Glass 5. This enables Gorilla Glass 6 to be more resistant to damage. Moreover, with breaks during drops being a probabilistic event, the added compression helps increase, on average, the likelihood of survival through multiple drop events.”

Some say it could reach Samsung Galaxy Note 9, but the chances of this happening are little, the iPhone 11 and the Samsung Galaxy S10 being more likely to be protected by it. Apple, unlike Samsung and Huawei, does not confirm that it uses Corning solutions to protect iPhone screens, but also invested in the US company, and will certainly use Gorilla Glass 6 in its phones.

Henry Lares is still early into his career as tech reporter but has already had his work published in many major publications including Tech Crunch and the Huffington Post.  In regards to academics, Henry earned an engineering degree from Apex Technical School. Henry has a passion for emerging technology and covers upcoming products and breakthroughs in science and tech.

Categories
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.

Categories
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.

Categories
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.”

Exit mobile version