African Regulators Taking ‘Wait-and-See’ Approach on Cryptocurrency 4203

African countries want to regulate cryptocurrency, but hardly any one wants to take the lead in responding to the meteoric rise of this technology and asset class. That’s according to a new report from the Togo-based Ecobank, the leading independent regional banking group that serves nearly 40 countries in West and Central Africa.

The report, which examined the regulatory response to cryptocurrencies in the 39 sub-Saharan countries, found that regulators in most jurisdictions are taking a “wait-and-see” approach, hoping that they can learn from the mistakes of their neighbors before they take action themselves.

“African countries appear to be looking to their neighbours to regulate and innovate first, and learn from their mistakes, rather than being the first mover,” the bank said. “African governments worry that if its citizens become overexposed to cryptocurrency investments, the repercussions of a future crash could be felt in the broader economy, hence their scepticism of licensing their use.”

Of the 39 regulatory regimes surveyed, more than half — 21 countries — had yet to make a public stance on cryptocurrency.

Only three countries had taken a strong position on cryptocurrency, with Namibia issuing an outright ban and — on the the opposite extreme — South Africa and Swaziland adopting “generally favourable and permissive” stances on the asset class but stopping short of providing them with “full legality.”

The other 15 countries lay somewhere in the middle, largely declining to regulate them directly, stating that bitcoin and other cryptocurrencies fall under a legal gray area and warning investors against investing in them.

For its part, the bank lamented the emphasis that cryptocurrency price movements have engendered in the public discourse surrounding this technology and asset class.

“Unfortunately, the spectacular rise and fall in the traded value of cryptocurrencies has drowned out broader discussion on the potential benefits this new technology could bring,” the bank said, concluding:

“The transformational impact that could be delivered by tokenising products and services on the blockchain has been compared to that of the Internet. Crypto tokens and currencies could enable consumers to transact instantly, cross-border and for free, provide them with KYC-compliant digital IDs, and incentivise their behaviour and change the way they engage with governments & service providers.”

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CryptoUniverse: We get profit when you get profit 16095

CryptoUniverse

We could not wait to present you the first part of the huge transformation. CryptoUniverse is always trying to reach the highest level of transparency, so you can feel every hash/second is running near you, but without any noise, heat or space taken from your home.

Let’s start the introduction from the main one. Meet the new balance management system. Collected experience and vision allowed us to make the step forward. From now, every account will have its own balances for different purposes in our ecosystem that you can easily manage as you want from the new page called “Balances”. This unique feature comes with a reworked electricity payment system. We made it as similar to your usual life routine as possible. All assets are still pre-paid, but you can fully control it within the new balance designed for electricity that is simply called “Electricity account”. There you will find not only the amount required to pay, but also real numbers of electricity in kilowatts consumed by any of your assets.

CryptoUniverse wants you to have access to as many instruments as possible.That is why we added the opportunity to make flexible and fixed savings not only in BTC, but in LTC too.  It grew by 500% in the last 6 months, so we all see again what results diversification can give. Beneficial and safe storage of your assets is one of our priorities.

New miners and contracts push your frontiers too. From now, the fee of our service is calculated in percents and is related to your mining income. It shows that we are interested in making mining as profitable for you as possible.

New instruments complicate user experience for some of us, so we thought it would be great to outweigh it by a significantly improved dashboard. Recent update includes a reworked “Dashboard” page and a new “Assets” page that can be used for managing and monitoring your assets in several clicks. There are dozens of other minor improvements, but we offer the intrigue to find it by yourself.

Our team worked a lot to make these changes possible, so we are pleased to hear any feedback on your experience with dashboard in social media or in support. To make your acquaintance more intense, use promo code GETPROFIT21. It provides you with a discount on our recent miners and contracts.

This is just the beginning, so keep an eye on it. Thank you for being with us.

About CryptoUniverse

CryptoUniverse.io is a multifunctional service created on 14 February, 2017. It gives users an opportunity to purchase or rent calculating power and equipment on its infrastructure. Company is based in Europe with headquarters in the United Kingdom and Estonia that guarantees operation within the European Union law and safety of users’ assets.

In Russia the company and its technical partners operate several clusters of modern data centers with an overall area of 38 000 square meters and more than 120 MW of overall power. It makes the services of CryptoUniverse.io high-quality and uninterrupted.

Main idea of the project is a simple and available opportunity to enter cryptocurrency mining by purchasing or renting calculating power. The service is also interesting for experienced miners because well-established logistics gives them an access to top-notch equipment that is already installed, tuned and ready to function in data centers of the company. Transparent operation and flexible offers to make clients experience comfortable are the main values of CryptoUniverse.

CryptoUniverse team is full of highly qualified professionals who polished all the processes, made service easy and convenient. 24/7 support extends boundaries for users who are not familiar with blockchain technology.    

CryptoUniverse. You buy, we pay.

Bitcoin Association launches Introduction to Bitcoin Development online course at Bitcoin SV Academy 16839

Bitcoin Association, the Switzerland-based global industry organisation that works to advance business with the Bitcoin SV blockchain, today announces the official launch of the Introduction to Bitcoin Development course at Bitcoin SV Academy. The course is available free of charge and can be accessed from today at http://bitcoinsv.academy.

Introduction to Bitcoin Development is part of the Bitcoin Development stream of Bitcoin SV Academy and has been designed to equip application developers with the skills, tools and techniques required to build applications on the Bitcoin SV network. The course covers Bitcoin as a data protocol – including reading, writing and advanced functionalities with the Bitcoin ledger, payment protocols, token protocols and smart contracts. At the conclusion of the course, participants will be tested on their knowledge through an online examination, with a course certificate available upon successful completion for those who have demonstrated proficiency and understanding of the subject matter.

Bitcoin SV Academy is an online education platform for Bitcoin which offers academia-quality, university-style courses and learning materials in three distinct streams, Bitcoin Theory, Bitcoin Development and Bitcoin Infrastructure. Developed and run by Bitcoin Association, Bitcoin SV Academy has been created to make learning about Bitcoin – the way creator Satoshi Nakamoto designed it – accessible, accurate and understandable.

The launch of Introduction to Bitcoin Development today follows the successful rollout of Introduction to Bitcoin Theory – the first course to be launched on Bitcoin SV Academy – in December 2020. Later this year, the first module in the Bitcoin Infrastructure stream Introduction to Bitcoin Infrastructure is due to launch, followed by intermediate and advanced level courses across the three streams.

Pastel Network Announces the Listing of PSL on the Bitcoin.com Exchange 15004

Pastel Network, the first truly decentralized and scalable blockchain project designed specifically for rare digital art, has officially announced its pending listing on Bitcoin.com, scheduled for March 5, 2021. Pastel Network is a blockchain for rare digital art (also known as “NFTs”) that is built on the secure, battle-tested codebases of the Bitcoin, Dash, and ZCash cryptocurrency projects. Pastel introduces several important innovations to the world of blockchain art, such as the decentralized storage of art image files natively in the network, as well as a decentralized validation process for registering new artworks that prevents near-duplicate images from being added to the system. Pastel’s novel near-duplicate detection algorithm is based on robust image fingerprints that are generated using state-of-the-art deep learning image models and introduces a new form of digital scarcity which makes pixel patterns themselves “rare.”

Pastel takes a different technological approach than competing digital art blockchain projects, which are primarily built on top of the Ethereum platform. Because Pastel is an integrated platform specifically designed for the application of rare digital art, it has its own native Bitcoin-like currency (called the PSL coin). Having a native currency token makes the Pastel Network’s fees for registering, storing, and trading rare artwork very low, which makes it affordable to artists and collectors all over the world. Furthermore, the system includes a native mechanism based on changes in the mining difficulty of Pastel’s proof-of-work algorithm for maintaining these fees at affordable levels long into the future — even if PSL appreciates significantly in value. This is in stark contrast to Ethereum-based art projects, where the cost to create new artworks is currently hundreds of dollars, creating unnecessary financial risks for artists and making these other platforms out of reach for all but the wealthiest artists and the most expensive digital artworks. Even if an artist can afford to pay these egregious fees, the cost of simply transferring the artworks to users is prohibitively high. Pastel offers digital artists a secure and robust environment for registering their rare digital artworks with very low transactional costs, making digital art accessible to artists from anywhere in the world, and allowing a different business model for artists where they can sell larger numbers of their limited-edition digital art “prints” at a price point of under $5, while still making a healthy profit margin.

At the same time, Pastel allows art collectors and fans to purchase rare digital artworks directly from their favorite artists — with most of the value going to the artist instead of being wasted on unproductive network fees and overhead. This allows fans to participate in the long-term success of their favorite artists, creating a reciprocal relationship that transforms an artist’s fans into partners that have a financial stake in promoting the artist’s work. Furthermore, buyers of rare artworks on Pastel are able to trade their owned artworks with other Pastel users in a decentralized exchange that is native to the platform, all while paying modest trading commissions and transaction fees that are closer to the ~2% charged by payment processors such as Paypal and Stripe than the 15% or more charged by art dealers and auction houses, and other NFT platforms. Pastel Network’s low trading fees will lead to a much more dynamic and liquid marketplace for rare digital artwork that has the potential to radically transform the way art is created and collected. Best of all, the trading fees are sent by buyers and sellers to an unspendable PSL address, thus, “burning” them and removing them permanently from circulation. Over time, this natural deflation will offset the new PSL created through the mining process, making PSL scarcer and more valuable.

As Pastel Network’s founder Jeff Emanuel explains, “Today marks an exciting milestone for our project, which has been under continuous development since 2018 with the singular mission of serving the world’s artistic community. We have created an open platform that frees artists from the restrictions of the traditional art market, with its outrageous commissions and dealer fees, as well as its elitist ‘gatekeeping’ mentality that excludes the vast majority of talented artists around the world from earning a living as an artist. With the listing of Pastel on the Bitcoin.com exchange, as well as the public launch of our wallet software for artists and collectors in the next months, Pastel is now poised to disrupt the NFT space with a radically better network design that solves the high transactional fees and scalability issues that plague existing Ethereum-based NFT marketplaces and platforms.”

Pastel Network originated as a fork of the Animecoin blockchain project originally introduced in 2014. Animecoin was based on a modified version of the Bitcoin code and was fairly distributed with zero “pre-mine” to thousands of users around the world. After the fork, the Pastel team raised over $3 million from Innovating Capital and other blockchain investors to fund the development of the Pastel software and to further the goals of the project through community engagement and exchange listings, culminating in Pastel’s pending listing on Bitcoin.com.

80% of White Respondents Are Aware of Bitcoin Compared to 66% of Hispanics and 61% of Black Respondents, New Study by SimpleMoneyLyfe 18431

The research, which analyzed exclusive survey results and public databases, also discovered that males are more aware of Bitcoin than females, and 67% of Millennials favor Bitcoin over gold. The data encompasses results from November 2019 to January 2021 – making it the most comprehensive cryptocurrency study to date. Moreover, our data hits on topics that resonate with consumers, academia, and the private industry. The results shed light on a new narrative that has not been covered – one that reveals rampant disparity.

This SimpleMoneyLyfe Study also analyzed several other factors related to cryptocurrency and the broader blockchain industry.

Here is a quick snapshot of what our industry-leading research reveals:

Cryptocurrency Criminal Activity: Just 0.34% of Crypto’s Transaction Volume was Used for Criminal Activity. This equates to roughly 10 billion dollars.

Bitcoin Hoarders are Prevalent: 2% of Crypto Wallets Control 95% of all Bitcoin. This includes numerous governments, financial institutions, and early Bitcoin investors/miners.

Male vs Female Bitcoin Awareness: According to another survey, 78% of male survey respondents reported being aware of Bitcoin, while only 71% of females were aware of this particular digital asset (18+ or Older).

Massive Blockchain Investments: As blockchain is accepted and utilized across different industries, the U.S. is poised to remain at the forefront of innovation. It is projected to spend $4.2 billion on blockchain solutions.

Complete Study Results: https://simplemoneylyfe.com/cryptocurrency-statistics

Simplemoneylyfe.com is a leading financial website that covers the blockchain, financial, and credit industries. We simplify complex financial topics into digestible (action-oriented) information.

Oasis Pro Markets LLC Receives U.S. Regulatory Approval for its Digital Security Alternative Trading System 18701

Oasis Pro Markets (“Oasis”), a regulated broker-dealer, announced today that it recently received approval from FINRA and the Securities & Exchange Commission (SEC) for its Digital Security Alternative Trading System (“ATS”).

Oasis is the first US-regulated ATS allowing Subscribers to trade digital (“blockchain”) securities and make payment for those digital securities in digital cash (i.e., Stablecoins such as USDC and DAI and, when available, central bank digital currencies (“CBDCs”) or fiat. Oasis’s ATS is authorized to allow its Subscribers to:

  1. Trade both registered and unregistered securities on the ATS
  2. Trade digital securities OTC
  3. Trade both equity and debt in digital form through the use of a blockchain
  4. Invest in initial private offerings that can be recorded on a blockchain

Approval for the ATS comes after working closely with the SEC and FINRA to ensure the platform offers legally compliant, regulated trading of digital securities.  Expected ATS launch date is Q2 2021.

“Obtaining approval with the world’s leading financial regulatory bodies has the potential to unleash a tremendous market opportunity; it advances investor protections, and coupled with digital cash, has the potential to unlock trillions of dollars of value in the digital securities space,” said Pat LaVecchia, CEO and Co-Chairman, Oasis Pro Markets. “Moving quickly with a regulation-first mindset, digital cash for digital security, and a deeply experienced team is a tremendous competitive advantage, and the only way to ensure that digital securities trading is viable long-term within the U.S. financial system.”

Oasis’s ATS provides access to liquid private and public digital security markets, via a secure interface that offers a range of custodians and digital security investments.  The ATS focuses on

  1. Institutional Quality Interface
  2. Overall Low Cost of Trading
  3. Liquidity with leading Market Makers
  4. Regulatory Protections
  5. Robust Technology

“Oasis’s ATS is set apart from other trading systems by the ability to accommodate Stablecoins and enable a more accessible, liquid, and transparent market for privately offered digital securities. We have worked tirelessly to deliver a low friction, digital security trading platform with streamlined onboarding and the type of volume that will excite issuers of securities and subscribers alike, whether accredited or institutional investors,” added Joseph Quintilian, Co-Chairman, Oasis Pro Markets.

“The only responsible path to successful financial industry adoption of blockchain’s advantages in digital securities trading, is through registered entities acknowledging the unmatched benefits and credibility that is provided by a regulated financial system,” said LaVecchia.

CES 2021 BayPay Rides Rise in Token Commerce with Its Simple, Fast, and Safe Payment Service 18645

BayPay is a technology company that builds economic infrastructure for blockchain with a promise to offering simple, fast, and safe payments, especially with the anticipated growth in token-based commerce during the COVID-19 pandemic, when people don’t necessarily want to hold physical money. BayPay’s Founder and CEO Scofield Yeh is positioning his company to reap the benefits of growth in the token economy. He said that, despite the fact that blockchain-related businesses are growing faster than the rest of the economy, only about 0.3 percent of global commerce happens on “chain” today.

“Regulatory complexity, a byzantine global financial system, and a shortage of engineers are constraining the impact of the token economy. Removing the barriers to token commerce helps more new businesses get started, expedites growth for existing companies, and increases economic output and trade globally. BayPay combines a payments platform with applications that put blockchain data at the heart of business operations,” Yeh said.

“Businesses of every size, from new startups to public companies, use our software to accept payments and manage their token businesses on chain,” he said.

He said that sitting atop BayPay’s blockchain platform are applications like the token, wallet, and cashier, which manage the lifecycle of the blockchain and deposit money into user bank accounts anywhere. BayPay includes a powerful API engine that makes transferring asset ownership easy. “Our SaaS (Software as a Service) infrastructure provides reliability, scalability, and security,” said Yeh.

NO-KEY

BayPay said that the biggest obstacle for users to enter the blockchain world is concerns related to establishing a wallet of their own such as managing private keys and remembering recovery phrases. By separating the two roles of identity authentication and authorization, BayPay allows users to use wallets as easily as using Gmail. It also allows companies to integrate token services into existing products to provide consistent user experiences.

NO-FEE

Yeh said the tokens issued by BayPay support the payment of fees by designated service providers, making it as easy for consumers as using ordinary points. “All transactions have costs. For example, the use of VISA cards incurs a fee charge of about 2%. Also, when the transaction fee is determined by the consumer and paid by the consumer using a token, it will confuse and inconvenience consumers. This is the current state of the token economy,” he said.

PAY-AS-YOU-GO

BayPay cloud service provides hundreds of application programming interfaces to assist your token economy operations as well as dozens of third-party integrated applications that help enterprises operate, including vouchers, discount coupons, gift certificates, meal coupons, redemption coupons, points, loyalty programs, and much more. The best part is that services are priced based on usage, without expensive program development costs and lengthy launch times.

Yeh noted that there are several ways to leverage BayPay. For example, it allows merchants, even those without blockchain knowledge such as POS retailers and e-commerce websites, to accept tokens as cash or to drop a link through chat or a Facebook post.

BayPay also helps ICO issuers improve the liquidity of their tokens. “Users can set the buyback price of their tokens and we will collect the tokens for them. There is no need to allocate manpower to work with your vendors and no more marketing subsidies need be spent on low-impact efforts.”

The company’s E2E also helps customers aggregate their spending power from separate sources and transfer their assets to whomever they want through the wallet. “No annoying private keys like with other wallets. All of the assets on BayPay are safeguarded by a hardware key vault.” Moreover, the B2B helps enterprises create stable coins as checks and deposit cash to their clients. This reduces the cost of accounting by adopting the distributed ledger services of blockchain. The innovative services of BayPay have earned the company selection by Taiwan Tech Arena (TTA) as one of the 100 featured Taiwanese startups showcased at CES 2021.

BayPay’s Founder and CEO Scofield Yeh is an experienced chief technology officer with specific skills in operations management, IT service management, business model development, management, and accounts management. Yeh is a strong information technology professional. He earned his executive master of Business Administration (EMBA) focused on entrepreneurship from National Taiwan University.