You Can Now Buy Tokenized Apple Shares With Bitcoin and Ethereum

apple stock

A Belarus-based startup has launched a tokenized securities trading platform enabling investors to buy into traditional markets with bitcoin and ethereum.


Tokenized Securities

Blockchain tech company Currency.com has announced the launch of its trading platform for tokenized securities. The Belarus-based platform is intended to enable investors to trade and invest in common financial instruments such as equities, commodities, and indices directly, without having to convert their cryptocurrencies in fiat.

According to the official release, it will eventually issue over 10,000 tokenized securities but will start with over 150, including everything from popular stocks to silver, oil and natural gas.

Users will be able to purchase tokens, which mirror the performance of certain conventional assets such as Apple shares listed on NASDAQ. It will cost the same price as an actual Apple share and can be bought with BTC or ETH.

Currency.com is the very first blockchain-based business licensed by Belarus’ High Technology Park (HTP) under the country’s Decree No. 8 “On The Development of a Digital Economy.”

Apart from being compliant with local legislation, the platform imposes strict KYC and AML requirements aided by blockchain intelligence services such as Elliptic, Chainanalysis, and Coinfirm. In other words, blockchain tracking software will be used to monitor transactions.

Additionally, Currency.com is going to use its FCA and CySEC regulated sister platform to offer access to the tokenized versions of a contract for the exchange of a specific index, commodity or equity.

Tokenized Assets: A Trend in The Making?

Earlier this month, Bitcoinist reported that an Estonian-based platform called DX Exchange would offer users to trade big-name stocks using tokens on the Ethereum blockchain through smart contracts.

Meanwhile, back in 2018, Singapore’s Monetary Authority (MAS) – the country’s de-facto central bank, teamed up with major firms like Deloitte, Anquan, and NASDAQ, to develop solutions for simultaneous exchange and settlement of tokenized digital currencies and security assets.

It appears that the tokenization of traditional assets like stocks is becoming a growing trend as the number of platforms enabling this is increasing with each day.

What do you think of token-based traditional assets? Don’t hesitate to let us know in the comments below!


Images courtesy of Shutterstock

The post You Can Now Buy Tokenized Apple Shares With Bitcoin and Ethereum appeared first on Bitcoinist.com.


Source: bitcoinist
You Can Now Buy Tokenized Apple Shares With Bitcoin and Ethereum

European Banking Regulators Call for Unity in Crypto Regulations

EU crypto reg.jpg

Last week, two of the largest banking regulators within the European Union released reports calling for uniformity in the regulations of crypto assets and Initial Coin offerings (ICOs) across the continent.

The EBA Calls for Pan-EU Crypto Regulations

On January 9, 2019, the European Banking Authority (EBA) published its assessment of crypto laws. The document, which examines the sustainability of EU laws to cryptocurrencies, analyzed the use of digital assets within the EU, as well as some of the pan-EU laws that currently govern them.

In the report, the EBA decried the lack of uniformity in crypto laws. It stated that this lack of equilibrium means that companies can move operations to “crypto havens� and face less-stringent regulations.

Essentially, this could create an uneven competitive playing field. Certain countries such as Malta and Gibraltar have been known to enforce crypto-friendly rules. However, the EBA is looking to achieve a uniform regulatory environment in the zone.

Adam Farkas, executive director of the EBA, said, “The EBA calls on the European Commission to assess whether regulatory action is needed to achieve a common EU approach to crypto assets.�

The ESMA Discourages Crypto Legitimization

On the same day, the second regulator, the Europe Securities and Markets Authority (ESMA) also published its advice to various EU-based banking institutions on ICOs and crypto assets.

The regulator pointed out that the crypto industry is quite small and presents little threat to traditional financial stability. However, it also expressed some concern over the risks posed to market integrity and the protection of investors.

The ESMA said, “Wider regulation of crypto-assets and related activities may have trade-offs, such as risking legitimizing crypto-assets and encouraging wider adoption.�

In addition, the report recommended that cryptocurrencies shouldn’t be legitimized, while also claiming that all digital assets should be subjected to anti-money laundering legislation.

The regulator warned about the significance of protecting the capital markets. Also, investors should be warned against buying crypto assets that aren’t financial instruments, as excess regulation could bring them “into a similar regulatory remit as the one for crypto-assets that are financial instruments.�

Gemini’s Viral Ad

The sentiments of the two regulators seem to echo those of Gemini Inc., the crypto exchange owed by the Winklevoss twins.

Just last week, the company engaged in a viral, city-wide advertising campaign. Buses, taxi tops and bus stops carried signs with messages such as “Crypto Needs Rules� and “Crypto Without Chaos� being boldly displayed.

At the time, Chris Roan, head of marketing at Gemini, said, “We believe that investors coming into cryptocurrency deserve the exact same protections as investors in more traditional markets, adhering to the same standards, practices, regulations and compliance protocols.�

Also, while speaking about their ad campaign in an interview with Fortune, Tyler Winklevoss added, “The idea is that companies that build on top of things like Bitcoin should have a regulation that’s thoughtful and that doesn’t stifle innovation … People believe in the dream of crypto. They just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.�

The Gemini ad campaign generated some to-be-expected reactions from the Bitcoin community, with many pointing out the folly in its approach to regulation.

In a tweet, Jesse Powell, CEO of Kraken, said, “Saying crypto needs rules is like saying the poor need sanctions. Here’s a rule: no more rules.â€�

Nick Foley, a former support staffer at Coinbase, also stated that the rules required by crypto are already there — and based in mathematics. Foley took to Twitter to downplay the prospect of bringing complex regulations to the crypto space, calling most of these regulations unnecessary.

https://platform.twitter.com/widgets.js

This article originally appeared on Bitcoin Magazine.


Source: bitcoinmagazine
European Banking Regulators Call for Unity in Crypto Regulations

French ATM Glitches and Bank Closures Reported After Scheduled Bank Run

The grassroots yellow vest movement in France has been participating in protests for weeks on end. Just recently, high profile yellow vest members have been promoting a “bank run” on financial institutions and automated teller machines in Paris. According to reports, the scheduled bank run began in phases, the first of which started on Jan. 12 and since then a few ATMs have been shut down due to “glitchesâ€� while some banking offices have allegedly closed shop temporarily.

Also Read: Embracing Utility in 2019: Unreliable Crypto Networks Will Lose to Hyperbitcoinization

Reports of ATM Glitches and Bank Closures Spread After Yellow Vest Movement’s Bank Run Begins

Over the last nine weeks, Gilets Jaunes, otherwise known as the yellow vest movement, have caused quite a stir in regions like Bordeaux and Paris, France. The political movement has been upset about high taxes, fraudulent banking practices, and a higher cost of living. Protesters specifically blame bureaucrats like the President of France, Emmanuel Macron, and the French banking system. A few high profile yellow vest leaders have been promoting a run on French banks and ATMs in order to show the opposition they mean business. A bank run occurs when a large number of customers of a bank withdraw their deposits simultaneously, which can easily threaten a bank’s solvency.

For instance, the bank run proposals have been called the “Tax Collectors’ Referendumâ€� and French activists Tahz San and Maxime Nicolle, also known as “Fly Rider,” have been telling protestors in videos to withdraw their funds on Saturday. The activists say people should continue to “scare the banks” without any violent provocation. One of the videos has since been scrubbed from the Youtube platform.

A bank run occurs when a large number of customers of a bank withdraw their deposits simultaneously which can threaten a bank’s solvency.

“For Act IX, we will scare this state legally and without any violence and through the Référendum des percepteurs [Tax Collectors’ Referendum],â€� explained one of the yellow vest members on Youtube. “We all know that the power of a country is not in the hands of the government but in those of the banks — If the banks weaken, the state weakens immediately.” 

Maxime Nicolle added:

On Saturday, at 8 a.m. we will all vote by withdrawing our money.

A dismantled ATM in Bordeaux, France.

News.Bitcoin.com spoke with a correspondent residing in France, who wished to remain anonymous, who said the Gilets Jaunes have been pressing people to run on the banks. “They [yellow vest participants] said to scare the government and go to the ATMs and withdraw the most money as possible,� a person familiar with the matter told our newsdesk Tuesday. Interestingly enough on Saturday reports of ATMs having “glitches� and alleged “bank closures� were described by the journalist Gilbert du Motier. The reporter explained that the glitches were similar to the situation in Greece a few years ago when banks implemented withdrawal limits of 60 euros per person. According to the report, the French government is also planning to implement withdrawal restrictions as well as laws to make sure the protests end.

Photo of an out of service ATM in France after Saturday’s scheduled bank run phases.

While discussions of a massive bank run heat up, many Bitcoin proponents have been vocally supporting the run on these financial institutions and hope the money will funnel into the crypto economy. High profile cryptocurrency advocates like Max Keiser and many others have been telling their Twitter followers the French should buy bitcoin.

One thing for certain is that if thousands or millions of French activists simply removed their funds from their bank accounts then the “fractional reserveâ€� banking scheme used in France would be exposed, along with many of its EU extensions. Bitcoin, on the other hand, cannot be stopped by a central banking system as financial executives and bureaucrats like Macron are powerless to limit withdrawals or produce systemwide technical glitches on account of the cryptocurrency’s decentralized design.

What do you think of the yellow vest movement’s proposed bank run phases? Do you think they should move funds into cryptocurrencies? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Pixabay, Lucas Barioulet, Gilbert du Motier, and Pixabay. 


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post French ATM Glitches and Bank Closures Reported After Scheduled Bank Run appeared first on Bitcoin News.


Source: bitcoin.com
French ATM Glitches and Bank Closures Reported After Scheduled Bank Run

Educating the Next Wave of Bitcoin Developers

BTC dev education.jpg

Bitcoin is an open-source protocol that anybody can interact with. It is getting attention and attracting participation in different ways, whether it is through speculation, investing and sending money, all the way to contributing to what’s underneath the hood. The entire Bitcoin repository is on GitHub, inviting any developer to see the protocol’s code and perhaps contribute toward solving existing problems if they can.

A noteworthy fact, however, is that the pool of developers today is quite small.

“It’s not an easy field to get into,â€� Jimmy Song, author of Programming Bitcoin and instructor at Programming Blockchain, told Bitcoin Magazine. “Interestingly enough, the thing that makes Bitcoin hard to get started on is the cryptography, and that’s hard because the math is not familiar to developers. Specifically, finite fields and elliptic curves.â€�

Some would argue, though, that the small number of developers in Bitcoin today is not too small. In fact, it’s perfectly fine at the size it is for such a new industry.

“Bitcoin has only been around for 10 years, and it only started getting a lot of mainstream attention in 2017, so it hasn’t been a long time to build up an ecosystem of developers,â€� said John Newbery, a Bitcoin Core developer and Bitcoin engineer at Chaincode Labs.

“It’s something that we hear a lot, that it is difficult to find experienced Bitcoin engineers … [Bitcoin] really only started getting mainstream attention two or three years ago, so it’s as expected. We’re doing everything we can at Chaincode to widen and deepen that pool.�

Even outside of developer knowledge, there are many aspects of various fields of expertise that require a significant level of understanding in order to grasp Bitcoin all around. Since there are so many paths that need to be explored, the question is: Where do you start?

It is important to be realistic and realize that a complete understanding of the digital currency will always be unreachable.

“I don’t think it’s possible to understand all aspects of Bitcoin,â€� Newbery said. “The frontiers are continually being pushed forward so having ‘proper education’ that covers the entire Bitcoin space is a constantly moving target.â€�

Perhaps a better approach to answering this question requires going back to the very first Bitcoin educator himself, Satoshi Nakamoto. How did Nakamoto introduce something like Bitcoin for the very first time in his white paper so that as many people as possible could understand?

Nakamoto seems to have realized that the best way is to break down concepts separately, explain why they do or don’t work individually, and then tie all the strings together at the end.

A Few Examples in Action

BUIDL Bootcamp

One such solution that presents a similar approach has presented itself in the form of Justin Moon’s BUIDL Bootcamp, a grassroots effort by Moon that aims to educate “HODLers� about Bitcoin beyond the basics. Similar in structure to Bitcoin’s white paper, Moon’s four-project curriculum, starts with “How Bitcoin Works.� The first BUIDL Bootcamp class is already halfway complete.

Similar to how the white paper first introduces transactions, then explains timestamp servers and proof-of-work systems before putting all the pieces together, Moon’s curriculum takes a progressive, constructive approach.

Project 1 starts with students making what’s called a “PNG coin.� This is not a coin at all, instead it is a .png photograph of a paper signature with a message, like “I, Alice, issue 10 coins to Bob,� with a signature below it. Just as Satoshi Nakamoto introduces each of his concepts and proceeds to explain how alone they are subject to failure, Moon then shows his students how, with such a simple .png concept, it is easy to double spend transactions.

Eventually, the course introduces digital signatures to replace these image coins and introduces further concepts in a gradual fashion to teach similar lessons about why Bitcoin was built the way it was. All of this, is also only in project one out of four.

One of the most surprising things about the bootcamp is the extent to which people who had little programming experience were able to follow the course.

“We’ve had a few people that had no prior programming experience besides an introductory programming course, like Code Academy, and we’ve had them get all the way through building an 800-line ‘mini bitcoin’ that has all the main features,� said Moon.

Chaincode Labs

The efforts at Chaincode are working toward a similar goal of educating about Bitcoin. Also a bootcamp-style learning course, Chaincode accepts a select number of applicants to go through a multiple-week course about Bitcoin-related technologies. Their developer-focused initiatives educate about the entire Bitcoin system, with residencies covering topics from the actual protocol to second-layer technologies like Lightning.

“We’ve done two versions of the residency focused on Bitcoin Core and Bitcoin, the protocol. And then we did the Lightning residency last year,� said Newbery.

Adam Jonas, who leads the education initiative at Chaincode, added, “We’re also planning a little bit longer residency this summer, a three-month residency, which is much longer than anything Chaincode has run in the past. It is probably an opportunity to sort of fuse both the lecture series and onboarding efforts that we’ve done, along with some project-based work. So hopefully getting the best of both worlds.�

This article originally appeared on Bitcoin Magazine.


Source: bitcoinmagazine
Educating the Next Wave of Bitcoin Developers

Tron [TRX]’s weekly report: BitTorrent token, Tron Accelerator and more

The cryptocurrency market’s recent behavior has been synonymous with that of a rollercoaster. Popular cryptocurrencies like Bitcoin [BTC], XRP and Tron have played all the sentiment fields, sometimes making investors happy while at other times behaving in the complete opposite manner. Tron’s tussle with the bear has been something to watch as the Justin Sun […]
Source: bitcoinwarrior
Tron [TRX]’s weekly report: BitTorrent token, Tron Accelerator and more

Ethereum: Analysts Believe Upcoming Constantinople Fork Will be Bullish Despite Delay

Although Ethereum is currently seeing a price drop due to its highly-anticipated Constantinople hard fork being delayed, it will still likely prove to be a positive event for the cryptocurrency’s price once the security flaws are smoothed out and it is implemented. Investors will not know until Friday when the new scheduled date for the hard fork is.

The term “hard fork� is typically seen as being a negative event for cryptocurrencies, and this is in part due to previous forks that have badly burned investors, like the recent Bitcoin Cash hard fork that split the community and led the cryptocurrency’s price to plunge.

Despite this, prominent analysts seem to agree that Constantinople may have bullish implications for Ethereum in the long run, mainly due to its network improvements and its supply reducing upgrade that will reduce the new supply of ETH by 33%.

Ethereum Hard Fork Unlikely to Burn Investors Long-Term

One of the greatest risks posed by hard forks is when they split the cryptocurrency into two versions. This can greatly impact the crypto’s price action, and it can split the community while driving fearful investors out of their positions. It is important to note that this is not the case with the upcoming Constantinople fork, which will not be splitting ETH and should offer some great benefits to the network.

Mati Greenspan, the senior market analyst at eToro, discussed the contentions hard forks can cause in a recent email, saying:

“Sometimes, when there is a disagreement among the community about the upgrade, some members will choose to keep the old version of the blockchain alive and we see a split. The most famous cases of this was when Bitcoin Cash split off of Bitcoin on August 1st 2017 and when Ethereum split with Ethereum Classic back in 2016,� he explained.

Ethereum core developer Lane Rettig spoke to Bloomberg earlier today about the upcoming fork, noting that it is one of the least eventful the network has seen in its history.

“I really can’t imagine a less contentious hard fork, to be honest… Of all the hard forks in the history of Ethereum, it’s probably the least eventful one,” Rettig said.

Now, however, the fork is seeing increased drama and scrutiny due to the recently discovered security flaw that, if it had been implemented, would have allowed nefarious actors to exploit a loophole in the coding that would have essentially allowed them to continuously withdraw innocent user’s funds.

Analysts Believe Constantinople is Bullish for ETH Price

In addition to offering some simple improvements to the network, analysts do believe that ETH investors will see benefits incurred from the hard fork, specifically due to the block rewards reduction that will reduce the supply of new Ether output, possibly offering the crypto more stable growth in the long-run.

Greenspan bullishly concluded that once the fork is completed, the markets will have a new Ethereum that is “faster, cheaper, and has 33% less inflation.�

Michael Moro, the chief executive officer of Genesis Global Trading, also spoke optimistically about the fork, specifically citing how the reduction of supply will reduce selling pressure.

“Being that the inflation rate will drop by a third, it could potentially reduce selling pressure that could come from the miners’ reward,â€� he explained.

Featured image from Shutterstock.

The post Ethereum: Analysts Believe Upcoming Constantinople Fork Will be Bullish Despite Delay appeared first on NewsBTC.


Source: newsbtc
Ethereum: Analysts Believe Upcoming Constantinople Fork Will be Bullish Despite Delay

Ethereum: ETH Price Plunges as Constantinople Fork is Delayed Due to Security Flaw

Over the past several weeks, Ethereum has seen consistent price gains that can be largely attributed to investors anticipating its Constantinople hard fork. This fork was widely viewed as being bullish due to it reducing the future supply of ETH by 33%.

Now, Ethereum’s price is plunging due to Constantinople being delayed as a result of a security vulnerability that, if it were to be implemented, could result in a loophole that provides attackers with the ability to exploit the code and steal user’s funds.

Ethereum Constantinople Hard Fork Delayed

Earlier today, news broke that smart contract security audit firm, ChainSecurity, noticed a flaw within one of the proposed improvement upgrades included in the hard fork, which could allow funds to be easily stolen by nefarious actors.

In a conference call, Ethereum’s lead developers discussed the flaw, noting that the hard fork will be delayed for an unforeseeable amount of time while they fix the issue. The new date for when Constantinople will be implemented will be released in another conference call this Friday.

ChainSecurity discussed the fork’s vulnerability in a recent Medium post, calling it a reentrancy attack that allows bad actors to reenter the same function multiple times without the network updating to account for the actions they took, essentially allowing them to continuously withdraw funds.

“The upcoming Constantinople Upgrade for the ethereum network introduces cheaper gas cost for certain SSTORE operations. As an unwanted side effect, this enables reentrancy attacks when using address.transfer(…) or address.send(…) in Solidity smart contracts. Previously these functions were considered reentrancy-safe, which they aren’t any longer,â€� ChainSecurity explained.

ETH Price Drops on News of Delay 

Ethereum’s price plunged on news of the Constantinople delay, and it is trading down 6% at its current price of $121. ETH is presently trading just above its weekly low of $116, which was set this past weekend when the overall crypto markets dipped.

Ethereum has seen a relatively consistent price rise since it set its 2018 lows of $80 in mid-December, rising to highs of nearly $160 before dropping to its current price levels. It is unclear as to how much of this price rise is the result of expectations regarding Constantinople, as the entire crypto market has posted a decent recovery from its mid-December lows.

Although ETH dropped on the news of the delay, The Crypto Dog, a popular cryptocurrency analyst on Twitter, said that he is buying the relatively minor price dip, which he sees as being the result of an “emotional reaction.�

“Reasonings for buying this: It was at support, easy invalidation if I’m wrong… ETH is leading, dumping due to Constantinople delay – this is an emotional reaction that may be quite shortlived [sic],â€� he explained.

How Ethereum’s price responds to the fresh news regarding the delay in the coming hours and days will gage how important traders see Constantinople being for ETH’s price.

Featured image from Shutterstock.

The post Ethereum: ETH Price Plunges as Constantinople Fork is Delayed Due to Security Flaw appeared first on NewsBTC.


Source: newsbtc
Ethereum: ETH Price Plunges as Constantinople Fork is Delayed Due to Security Flaw