PR: Top Blockchain Companies AlphaPoint, Bloq and RSK Labs Show Support for Exchange Union

Top Blockchain Companies AlphaPoint, Bloq and RSK Labs Show Support for Exchange Union

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

July 31th, Shanghai, China – Exchange Union has attracted the support of high profile blockchain companies AlphaPoint, Bloq and RSK Labs ahead of its crowd sale on Aug 7. Exchange Union aims to bridge digital currency exchanges via XUC, an inter-exchange token that allows secure cross-platform trading.

Exchange Union has appeal for blockchain technology companies, particularly those specialized in use cases and infrastructure. AlphaPoint is one such company that provides asset digitization through its distributed ledger platform. With a growing following of clients from around the world, AlphaPoint president and COO Igor Telatnikov was clear on the benefits that Exchange Union can bring;

“Exchange Union will bridge digital currency exchanges by breaking the barriers of separation among them, thus raising the liquidity of digital asset markets. This will be of great benefit to the industry. We believe Exchange Union will lead the trend for settlement on blockchain.”

Exchange Union has also been favoured by RSK Labs. As a distributed platform of smart contracts on Bitcoin Blockchain, RSK Labs has developed an extensive fan-based Bitcoin and blockchain community and is widely regarded as one of the best solutions to the Bitcoin scale debate. Gabriel Kurman is co-founder of RSK Labs and sees value in Exchange Union commenting,

‘Exchange Union can play a key role connecting exchanges across the world and enabling the full potential of the internet of value. RSK technologies, such as the Lumino network, will allow Exchange Union members to trade up to 20,000 transactions per second of any kind of digital asset. We will pay close attention to this promising project and support its development.’

Exchange Union has also caught the attention of Bloq that is widely recognised in the industry as a leading provider of enterprise level blockchain technology offering software solutions, business consultation and blockchain application support. Jeff Garzik is the co-founder of Bloq, a member of Bitcoin Core, a very experienced developer and also a “Linux lieutenant” maintainer working directly under Linus Torvalds, creator of Linux, for over 10 years.

Garzik recognizes the Exchange Union project objectives such as its ability to bridge global digital currency exchanges and the benefit of fast, secure and convenient transactions on the Exchange Union Chain, and added that he will support the development of the project.

Exchange Union token sale will go live at 09:00 EST on August 7th 2017. The token sale is being held via the largest token sale platform Token Market. For more information, visit www.exchangeunion.net or contact us at contact@exchangeunion.net.

We are looking forward to your support!

Press Contact Email Address
contact@exchangeunion.net
Supporting Link
www.exchangeunion.net


This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Source: bitcoin.com
PR: Top Blockchain Companies AlphaPoint, Bloq and RSK Labs Show Support for Exchange Union

Bitcoin Price Dominates as Altcoin, Ethereum Prices Trend Down – CryptoCoinsNews

TechCrunchBitcoin Price Dominates as Altcoin, Ethereum Prices Trend DownCryptoCoinsNewsThe crypto markets retracted this week, with ethereum and many altcoins posting declines greater than 10%. The bitcoin price, however, swam against the current to return a weekly gain of 3%. Get exclusive analysis of bitcoin and learn from our trading …An Imminent Fork, Bitcoin Cash and Possible Chaos – Are You Prepared?Live Bitcoin NewsBitcoin Price Picks up Steam Toward US$2800 and BeyondThe MerkleTop Cryptocurrencies price weekly prediction – next days will be rough For the crypto marketEthereum World News (blog)The Market Oracle -The Hans India -TREZOR Blog -The Coinbase Blogall 113 news articles »
Source: worldnewsoffice
Bitcoin Price Dominates as Altcoin, Ethereum Prices Trend Down – CryptoCoinsNews

Bloq Outlines Blockchain Solutions for Trade Finance and Supply Chain Management

Bloq, a Chicago-based blockchain developer and software startup, is now developing blockchain platforms and best practices for one of the most promising use cases for blockchain technology: trade finance and supply chain management.Interest in the use of blockchain for trade is growing rapidly as companies and organizations like IBM, Microsoft, Hyperledger, JP Morgan and Walmart recognize that antiquated trade systems are long overdue for a complete restructuring and that blockchain technology has the potential to revolutionize the systems that make up global trade.A common problem with current trade systems is fraud. The trip from farm or factory to store shelves involves numerous opportunities to falsify shipping documents and alter shipping container records or contents with little accountability.”Global supply chain management has drastically changed in the last 10-15 years,” William Nieusma, Vice President, Government Strategy at Bloq told Bitcoin Magazine: “Regulatory mandates, operational complexity and data security concerns have ramped up the pressure to overhaul these outdated systems.”Nieusma is one of the authors of Bloq’s recently released white paper, “Accelerating Global Trade Processes with Blockchain,” designed to introduce their new project to develop a model blockchain network for companies involved in trade.“But it’s not all doom-and-gloom; adopters of blockchain-based systems can cut costs, improve customer service and find new, verified business partners,” added Nieusma.Alan Cohn, attorney and consultant and advisor to Bloq told us:”Global trade is an area where blockchain can play a transformative role, not just for industry but also for government.”Nieusma noted that Bloq believes that in the future, the most significant and valuable business systems, including trade, will run on blockchains.IBM has recognized the potential of blockchain and trade. In partnership with seven European banks, it is building a pilot blockchain trade program with Hyperledger to enable companies like Walmart and Maersk to use blockchain technology to better track the movement of farm and factory products to the store shelves.Microsoft is also building a model trade program using the Ethereum blockchain in a pilot project with JPMorgan.Blockchain Tech and Trade Are a Perfect FitTrade finance and supply management lend themselves well to the particular advantages of blockchain technology. The Bloq white paper states:Blockchain technology holds considerable promise to substantially improve supply chain security and transparency. Blockchain’s inherent architectural attributes solve several weaknesses in current trade IT systems and processes to ensure information immutability and transaction auditing, thereby increasing trade value capture and value creation.Bloq’s model trade platform promises companies high levels of cybersecurity, reduced waiting times, transparency, ease of revenue payments, low infrastructure investment, easily auditable transactions, efficient accommodation for additional participants, immutability and automatic bonding and payments through smart contracts.Bloq plans to build a “permissioned, federated network” built on the Bitcoin blockchain that, depending on the client’s needs, will also support Ethereum and Hyperledger. Nieusma said:“Bloq believes that the future is a multi-chain, multi-network world and that interoperability is a guiding principle in network buildout.” The Bloq program will connect all parties involved in a trade including buyers, banks, sellers and transporters so that information about a shipment is distributed among all involved parties at the same time.As the white paper states:“Trade can be safer, more secure, and more profitable with less human error. We hope this discussion leads to an evolution in trade that benefits all stakeholders.”The post Bloq Outlines Blockchain Solutions for Trade Finance and Supply Chain Management appeared first on Bitcoin Magazine.
Source: worldnewsoffice
Bloq Outlines Blockchain Solutions for Trade Finance and Supply Chain Management

Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether Trades

Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether Trades

A major bitcoin exchange with a strong presence in Japan, Quoine, is being sued for reversing bitcoin-ether trades after it allegedly suffered from a system glitch. Cryptocurrency trades on the platform are supposed to be irreversible, so the plaintiff claims Quoine acted fraudulently and seeks the return of 3,085 bitcoins.

Also read: Indian Bitcoin Exchanges Will Not Support Bitcoin Cash

Quoine Sued for Reversing Trades

Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether TradesOne of Asia’s largest bitcoin exchanges, the Singapore-based Quoine, is reportedly being sued over the reversal of bitcoin-ether trades. This lawsuit is the country’s first bitcoin-specific legal dispute, according to The Straits Times on Monday.

The plaintiff is a market marker known as B2C2, who placed sell orders on Quoine’s platform at the rate of 10 bitcoins for one ETH on April 19, when the market price of one Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether TradesETH was about 0.04 bitcoin. The orders were filled and credited on the same day; B2C2 paid 309.2518 ETH and received 3092.517116 bitcoins. However, the next day Quoine reversed the trades and deducted 3084.78582325 bitcoins from the market maker’s account without authorization, the news outlet detailed.

The trades were “inadvertently” executed at the “abnormal rate of… 10 bitcoins for one ethereum, which was approximately 125 times higher than the actual market price of ethereum on April 19,” the exchange admitted. Quoine attributed the cause to a technical glitch which occurred when it was “reconfiguring passwords for its critical systems to fend off persistent attempts by hackers to break into its systems,” adding that:

The glitch severely disrupted Quoine’s ability to retrieve actual market prices for bitcoin and ethereum.

Was the Reversal Fraudulent?

B2C2 claims Quoine “acted fraudulently” because their trading agreement states that orders are irreversible once filled.

Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether TradesIn contrast, the exchange claims that it was entitled to do so because the trades were “mostly trades with huge mark-up over fair global market price.” In addition, it revealed that B2C2 had done other bitcoin and ether-related trades on its platform at prevailing market rates between April 15 and 18. Quoine asserted that B2C2, as a “sophisticated” investor, should have suspected that the “abnormal rate” was a mistake, adding that the market maker was “being opportunistic and seeking to profit from a technical glitch.”

The plaintiff is seeking to recover 3084.78582325 bitcoins from Quoine in Singapore’s High Court; no dollar amount was provided in the lawsuit, according to The Straits Times. The price of one bitcoin has more than doubled by the end of July from its April 19 price of $1,221.

Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether Trades
Bitcoin’s exchange rate vs the USD, April 19, $1,221.

Should Exchanges Reverse Trades?

Other bitcoin exchanges have also had to decide on trade reversals. In December 2015, Gemini was heavily criticized for reversing a trade after a customer placed a very large buy order on its platform in error. The exchange stated that its decision was due to the trade being “empirically disruptive to an orderly market.”

Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether TradesLast month, Coinbase came under fire from its users for not reversing trades during the Ethereum flash crash, which caused the price of ETH to fall from around $320 all the way down to 10 cents on its GDAX platform. One investor placed a multi-million dollar ETH sell order, sinking its price and triggering “approximately 800 stop loss orders and margin funding liquidations,” GDAX explained. However, two days later, the exchange announced that it would honor all executed buy orders as well as credit customers who had margin calls or stop loss orders executed using company funds.

Do you think Quoine should have reversed the trades? Let us know in the comments section below.


Images courtesy of Shutterstock, Quoine, Coinbase, and Bitcoin.com


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The post Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether Trades appeared first on Bitcoin News.


Source: bitcoin.com
Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether Trades