Crypto Startup Puts Tesla, Apple, Facebook Shares On Ethereum Blockchain

According to a report from Bloomberg, DX.Exchange, an up-and-coming crypto startup headquartered in Estonia and Israel, will be putting a number of popular American equities onto a blockchain next week. As the firm’s name implies, DX.Exchange is an online trading platform that will allow investors to trade and transact shares of Apple, Facebook, Tesla, along with seven other household names listed on Nasdaq, even when markets are shuttered for the day.

If its inaugural trading sessions perform well, the startup intends to expand its crypto offerings to encompass shares listed on the New York Stock Exchange, coupled with those situated on Tokyo’s Nikkei and Hong Kong’s Hang Seng.

Each digital security token will be collateralized by one common share, and interestingly, stockholders will be purportedly be “entitled to the same cash dividends,” arguably making this offering just as good as buying stocks through TD Ameritrade, E*Trade, and the like. MPS MarketPlace Securities, a partner of DX, will be taking custody of the shares, allowing Ethereum tokens to be created that represent the securities.

But what are the benefits of the platform?

Well, as explained by Bloomberg, digital securities will allow traders to transact their holdings when markets are closed. This simple feature could catalyze the creation of secondary markets, drawing die-hard traders, even those without crypto knowledge and experience, to blockchain-based platforms, subsequently catapulting adoption.  Ethereum-based shares could also interact with other facets of the blockchain’s ecosystem.

These crypto tokens can also be divvied up, while trading fees can be minimized, lowering the bar for entry. The aforementioned factors, coupled with the fact that foreign investors will be able to gain access to U.S. shares, is undoubtedly a move towards financial inclusion — crypto’s underlying raison d’etre. 

And interestingly, this is all legal too. Speaking to the aforementioned outlet in a recent interview, DX chief Daniel Skowronski explained that his platform is licensed by the Estonian Financial Intelligence Unit, which has the backing of the European Union. So, DX has the legal capacity to make such an offering. Skowronski also expressed his excitement for his firm’s innovative platform, noting:

We saw a huge market opportunity in tokenizing existing securities… We believe that this is the beginning of the traditional market’s merge with blockchain technology. This is going to open a whole new world of trading securities old and new alike.

The Tokenization Of Everything

While DX.Exchange’s foray into blockchain-based securities is a step in the right direction and is something to be commended, the tokens aren’t fully decentralized, as there are still centralized counterparties. This lack of fully-fledged decentralization may introduce risk over time. But, a number of pundits believe that eventually, shares and other pertinent assets will become fully decentralized.

Anthony Pompliano, the founder of Morgan Creek Digital Assets and an anti-establishment figure, recently told BlockTV that he expects for all securities, whether it be stocks, bonds, real estate certificates, or otherwise, to be tokenized. The decentralist, well-known for his anti-bank, pro-Bitcoin rhetoric, claimed that this won’t be an easy task, however, quipping that this journey will take more than five years.

Jeremy Allaire, the CEO of Boston-based, Goldman-backed Circle, also echoed this sentiment in a recent CNBC interview. Speaking to the outlet, Allaire, who manages the aforementioned crypto startup, exclaimed that the “tokenization of everything” will eventually occur.

Allaire, who doesn’t seem to embody the hallmarks of a Bitcoin maximalist, noted he envisions a future filled with millions of crypto assets, whether they take the form of security, commodity, or utility tokens. In short, the long-time crypto advocate noted that he doesn’t believe cryptocurrencies are a “winner takes all” scenario, instead, he made it clear that a multitude of projects can live in relative harmony, due to this innovation’s ground-breaking potential.


Source
Author: Nick Chong
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A 7-Year Legal Fight Led This Dev to Build Unstoppable Ethereum Storage

“If you build it strong enough, the law will follow.”
That’s how Daniel Nagy, the leading developer behind Swarm – ethereum’s decentralized storage-layer – described his “takeaway lesson” after a seven-year legal battle over the hosting a file-sharing node.
A precursor to peer-to-peer file sharing service, Bittorrent, Nagy was running a DC node, a technology that is now “perfectly and completely obsolete,” according to the developer.
“I had a bit of a legal fight over it and I won,” he told CoinDesk.

In the aftermath of that fight, Nagy – who founded of the Hungarian branch of the Electronic Frontier Foundation – joined the Ethereum Foundation, where he was inspired to look deeper into censorship-resistant technology.
In particular, Nagy’s experience in the courts initiated his work on Swarm, a hotly anticipated storage layer for ethereum, where he focuses on systems architecture and privacy-preserving cryptography.
With Swarm, Nagy is fixated on how to make decentralized storage robust enough that legal repercussions of this kind can’t happen – in what he describes as “an arms race” between developers and regulators.
“This is an arms race, and since we can develop stuff and the marginal cost of replication is zero, we will win this arms race, and I think everybody knows that,” he told CoinDesk.
An ethereum initiative that has been active since the early days of the platform, Swarm seeks to provide a mechanism for the blockchain to offload some of its historical data, as well as handle file-storage more broadly.
With an emphasis on “efficiency, speed, confidentiality, and security,” the decentralized storage-layer is built with the aim of rendering the cost of attack so inefficient that the legal system is forced to update itself in response.
According to Nagy, that’s because a fully robust network, “can actually inform decision making, even to the point of how law is interpreted by judges and enforcers.”

Unstoppable storage
Intended to provide a base infrastructure for a decentralized internet, Swarm splits information up between the computers of different network participants.
To protect this layer from censorship – what Nagy defines as taking information out of circulation – decentralization and privacy are vital.
For example, what developers call “redundancy” is key to how Swarm protects against censorship. This refers to the duplication of critical system components of a system – creating, in effect, a “swarm” of machines.
“If you have multiple channels of communication, multiple locations of storage, then censoring becomes more expensive because you need to find all of them and shut down all of them,” he told CoinDesk.
While it’s possible to store information in a transparent way on Swarm, much of Nagy’s work has focused on how to ensure sensitive information remains private, even when stored on someone else’s computer.
To do this, Swarm uses what is called “counter mode” encryption. If there’s a dispute, the protocol shares a small piece of encrypted data that can verify ownership without revealing any other information.
In order to access the stored information remotely, Swarm uses public and private key pairs.
As such, participants will host encrypted data chunks on their laptops, and in most jurisdictions, can do so with a degree of plausible deniability – also meaning that, because Swarm nodes don’t hold the keys to unlock data, they won’t be at risk of legal trouble.
According to Nagy, that’s important because attack-resistant storage is essential to healthy societies.

Future directives
The storage protocol is currently in public alpha, meaning that while still under heavy development, but today, anyone can run a Swarm node.
Going forward, the protocol will also offer incentives in the form of ether (ethereum’s native cryptocurrency) for participants in the Swarm network. This aspect is still being fine-tuned.
Additionally, according to Nagy, Swarm encryption has been designed to be “as smart contract friendly as possible,” in order to ensure that dapp developers can seamlessly integrate the technology.
That’s because while primarily intended to store smart contract information and other blockchain data in a decentralized way, Swarm has other, more far-reaching use cases on the horizon.
For example, the project has secured a number of partnerships over the past year, including video streaming startup Livepeer and Datafund, a privacy-centric data management protocol.
Nagy is also using Swarm to build a censorship-resistant social media platform called BeeFree, working with fellow Ethereum Foundation developer Dimitry Khokhlov. Their goal is to use the technology in a bid to create an alternative to platforms with heavier forms of censorship.
“We have access to a kind of shared pool of knowledge that humanity has accumulated, and if that is being censored, that makes us much much much dumber as a society,” Nagy said.


Source
Author: Rachel Rose O’Leary
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Austrian Government Bond Auction To Be Completed Using Ethereum Public Blockchain

In an auction next week, Austria is set to issue USD 1.35 Billion in government bonds on the Ethereum blockchain. OEKB, one of Austria’s largest banks, is set to manage the Ethereum blockchain service and facilitate the government bond auction.

Ethereum and the Austrian government bond issuance

This issuance will be the first time a blockchain-based service of this nature will be used to conduct a government bond Federal auction. The procedure has already been tested and will be used to –

“notarize data from Austria’s established system — the Austrian Direct Auction System (ADAS) — as hash values on the Ethereum public blockchain”

The government bond auction is scheduled for October 2nd, and the bond will be issued by OEKB on behalf of the Austrian Treasury (OeBFA). It is important to note that this system does not go as far as to issue bonds on the blockchain but functions more like an accounting/notarization service. However, it is generally regarded as having benefits that will reduce costs and enhance the overall government bond infrastructure in Austria.

Bonds on the blockchain

Austria is certainly not the first government to implement bonds on the blockchain, though the use of the Ethereum blockchain is distinct from other services such as the Fabric Hyperledger, which was the underlying technology used by state-owned Sberbank in Russia when they launched their commercial bonds.

The city council of Berkley, California are inching towards the sale of municipal bonds on the blockchain and would be the first municipality to do so. There is a considerable amount of red tape and considerable fees associated with the issuance and management of bonds as well as the payment of accountants and underwriters. A blockchain issuance or notarization system could drastically reduce costs in an expensive sector. According to Vice Mayor Ben Bartlett, who is spearheading the Berkeley initiative, the combination of minibonds and blockchain is “meant to get around Wall Street.”

The World Bank and Common Wealth Bank of Australia are also working on a joint initiative to facilitate the sale of a public bond entirely on the blockchain. The issuance of this two-year public bond is worth around USD 75 Million with a 2.25% return. The name of this global blockchain bond is “bond-i”, and the bond is to be issued in Australian Dollars.


Source
Author: Daniel O’Keeffe
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Tron (TRX) Debuts on ChangeHero – the Instant Cryptocurrency Exchange

The Tron blockchain is quickly growing and adapting to the distributed ledger technology ecosystem and making its presence felt around the world. Now its native crypto asset TRX will be available for trade on ChangeHero, an instant crypto exchange. The exchange has opened a new TRX and US dollar trading channel for its users, which is live now. Anyone interested in buying TRX can do so via their credit card on this platform.

Buying cryptocurrencies with credit cards is often a problem for cryptocurrency investors. The lack of transparency in centralized crypto exchanges and banks’ aversion of these exchanges have led to difficulties for retail investors who wish to participate in cryptocurrencies.

On some exchanges, users first need to buy Bitcoins and then convert them to altcoins, making the crypto-buying process longer. With ChangeHero, they can use credit cards and transact in TRX directly with US dollars (USD). In a blog post, Tron said that the exchange could provide “users using USD with secure, fast and stable TRX transfer, and purchase services.”

ChangeHero is an instant exchange that provides the “fastest assets swap,” according to the blog post. The platform lets users make crypto-to-crypto transactions as well. Currently, it supports 100 coins but plans to add several more in the future.

Tron suggests that ChangeHero is an easy-to-use platform that helps users make crypto transactions in five simple steps. The sign-up for the website is free and provides anonymity to the users as it doesn’t collect personal data. The exchange doesn’t impose any use limitations for the users.

The website works by scouring over ten exchanges and finding the best rate available. The platform currently supports nine languages. Additionally, it offers 0% commission on all their partner coins, regardless of the exchange. Tron users, therefore, will get a sweet deal from the platform.

Tron recently launched the official version of the Tron Virtual Machine, which makes it in direct competition with Ethereum Virtual Machine for hosting DApps on its blockchain ecosystem. Meanwhile, Tron prices are facing a setback globally. The 13th largest cryptocurrency in the world has experienced a 16.62-percent drop in prices in the past 24 hours after reports that Goldman Sachs has dumped its plan to start a crypto trading desk.


Source
Author: Maxpositives
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Nintendo, Microsoft and Electronic Arts developers to make games on Ethereum blockchain!

A studio known as 8 Circuit Studios have begun building games on the Ethereum blockchain. The studio comprises of developers from prominent video game companies such as Nintendo, Microsoft, Electronic Arts and 343 Industries. The president of the studio is James Mayo, who is known for his work on Donkey Kong Country, Super Mario World, Age of Empires 2 and ‘F.E.A.R.’.


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The studio has already released a mobile game called “Alien Arsenal” on the Ethereum blockchain, along with a token known as the “8Bit Token”. This was distributed to players using what the developers called a “Space Drop Program” which is an airdrop.

The game features an alien which can be upgraded to fight in the “battle for the blockchain”. This is one of the “very first digital, upgradable assets ever made”. The 8Bit token can be used to level-up and trade with other players.
Even more exciting is a full video game title set for release next year on PlayStation 4, Xbox One, and PC. The game is called D-PARC, and the tagline is “Create a character that can live forever.” The character will be fused to the blockchain and the player’s decision will carry “eternal consequences”.

The game promises to blend psychological survival mechanics with a first-person perspective. It will also feature space travel and ship-to-ship combat scenarios.
The game is based on the ship n-SATOSHI, a callback to the creator of Bitcoin. The aim of the game is to transport humanity’s last survivors to ‘New Eden’, with 100,001 humans as cargo on the ship.

James Mayo announced his plans for the future of the venture, saying:
“Phase one is simply saving the state of your character – level status, items, et cetera. The second is allowing you to bring that character into any and every game we publish. The final phase is allowing you to bring your character into any game you can imagine, regardless of the publisher who created it and the platform it’s on.”



Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: MaxPositives
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Vitalik Buterin to leave Ethereum for Google??

A now-deleted tweet by Vitalik Buterin shows that he may have actually been considering leaving the Ethereum project to join Google’s staff.

The creator of Ethereum posted a poll on Twitter asking his followers if he should “drop Ethereum and work for Google,” with a screenshot of an email that was sent to him by a member of Google staff asking if he would like to join the company.

He might have deleted the tweet because he failed to censor the sender’s email address, which we did before posting the “screenshot of a screenshot.”

Elizabeth Garcia is an on-site engineering recruiter at Google, as her profile on LinkedIn reads, and worked in the past at the Los Angeles Area Chamber of Commerce as an interview coach.


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It is no mistake that this email was sent to Buterin, as Google finds itself at odds with several companies that have chosen to pursue blockchain technology while the tech giant appears somewhat left behind.

A number of ex-employees of the company have even founded their own group to support the development of blockchain endeavors.

Named “xGoogler Blockchain Alliance,” the community aims to help any “ex-Googlers” build up their own blockchain ambitions. This group was started by a bunch of former employees who have already established their own companies in the blockchain space.

In its ever-present habit of acquisition, Google may have thought to recruit Vitalik Buterin for blockchain projects of its own to help the company get ahead of the competition.

Insiders from Google have already confirmed that the company is looking into blockchain technology but didn’t provide many details on the subject.
“Like many new technologies, we have individuals in various teams exploring potential uses of blockchain, but it’s too early for us to speculate about any possible uses or plans,” a spokesperson said.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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Author: Miguel Gomez
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Amazon Eyes Ethereum (ETH), Partners With ConsenSys To Simplify Blockchain Access

The Consensus Summit is ongoing and continually bringing news of blockchain developments by the minute. Current news indicate that the cloud computing arm of famous online retailer, Amazon, is partnering with Ethereum Design Studio Consensys,in a bid to assist in the deployment of blockchains for business entrerprises and make them faster and easier to create and deploy.

The Cloud computing arm of Amazon.com is known as Amazon Web Services (AWS) and provides on-demand cloud computing platforms to individuals, companies and governments on a paid subscription basis. Subscribers are then able to access the real computer hardware available through the service. This includes CPUs, GPUs, RAM, Hard Disc storage amongst other hardware services. There is also the option of operating systems, networking and pre-loaded software such as web servers, databases and CRM.

This partnership with ConsenSys aims at bringing blockchain technologies to the same clients, at an easier and faster pace than the usual ICO option.

ConsenSys is an Ethereum based project and infrastructure that furthers the cause of a decentralized world on the blockchain.

Amazon has been eyeing Ethereum for quite sometime now and Matt Yanchyshyn, the global technical lead for AWS’s partner program, told Coindesk the following:

We have been following ethereum closely as it’s what many of our customers have been exploring, especially for enterprise use cases.

With AWS being protocol agnostic, it can support other platforms such as Hyperledger’s Sawtooth and R3’s Corda Platforms. AWS had also released a new service back in April, that launches out-of-the-box blockchain networks for the Ethereum and Hyperledger Fabric protocols.

With the ConsenSys partnership, the two entities will focus on a new start-up that was launched today called Kaleido which is an incubator product of ConsenSys. This will accelerate the adoption of blockchain technology by businesses to a level where the business owners do not need PhDs in cryptography or learn complex coding skills to run the technology running their businesses. Customers will not need to worry about managing the blockchains themselves. It will be part of the service provided by AWS and ConsenSys.

Amazon.com joins a growing list of high profile firms showing their interest in blockchain technology. Just today, DNV GL bought a stake at popular blockchain project, VeChain (VEN). The goal of the partnership is to develop new digital assurance solutions on the blockchain.


Here at Dollar Destruction, we endeavour to bring to you the latest, most important news from around the globe. We scan the web looking for the most valuable content and dish it right up for you! The content of this article was provided by the source referenced. Dollar Destruction does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. As always, we encourage you to perform your own research!

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