Crypto Exchange Giant Binance Outlines Plans to Expand in Africa 3812

Binance Labs Director Benjamin Rameau has stated that Africa is front and center of the company’s expansion strategy as it bets on a vision of the 21st century driven by the world’s youngest population gaining increased access to technology and opportunities.

In a detailed blog published on his Medium page, Rameau comprehensively outlines why Binance believes that the future is African, starting with a historical comparison to Asia in the 1960s – also an under-serviced continent with a poor population.

According to him, the same contrarian investment strategies that proved extremely successful as Asia kicked off an economic miracle in the face of all expectation are likely to reap similar rewards in 21st century Africa.

The post goes on to state that unlike in developed markets where it competes with a flawed existing financial system, crypto has the potential to build a completely new financial system in parts of Africa where to all intents and purposes none currently exist, such as South Sudan where only 9 percent of people over 15 years old have a bank account.

Earlier when CCN reported on Binance opening up in Uganda, the story noted that Ugandans’ access to financial services has grown rapidly over the past decade, driven by digital inclusion through a wide adoption of mobile money platforms. According to a World Bank news report, there has been an over 100 percent rise in the number of adult Ugandans with access to formal financial services since 2009, but the total percentage of the population with this access is still about 16 percent.

From a Binance perspective, this scenario contains the real possibility for huge growth. Essentially, an entire generation of hundreds of millions of young, technology-receptive people could come into crypto finance as their first ever experience of a structured financial system, establishing crypto as a default paradigm on the world’s largest inhabited continent, which would be game-changing for crypto perception and adoption worldwide.

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Microvisionchain announce MVC-20: The first protocol for free-minting assets on the bitcoin sidechain 10369

The future of assets protocol:

Fair launch, simplicity, efficiency, and low transaction fees

As we journey through 2023, the blockchain industry is buzzing with excitement, particularly the BRC-20 token market, led by the innovative Ordinals protocol. Moving forward, in 2024, the surge in market demand has ignited a quest for more efficient blockchain functionality, lower gas fees, and simplified operations. The market is also yearning for a fair competition environment for all participants.

Enter MVC-20, a revolutionary assets protocol that fully harnesses the high concurrency and low latency transaction characteristics of the MVC Layer1 smart contract. It’s designed to build an innovative fair distribution mechanism that addresses the fairness issues plaguing traditional models. MVC-20 is poised to bring about a seismic shift in the Bitcoin ecology token and NFT markets.

Introducing MVC-20: The First Protocol for Free-Minting Assets on the Bitcoin Sidechain

MVC-20 is a trailblazer, being the first free-Mint assets Protocol on the MVC Chain. It adopts a unique “burn to mint” mechanism, ensuring a fair start for everyone – no pre-sales, no whitelists, no team allocation, and no gas fee front-running transactions. The cost of minting MVC-20 tokens is burned, converting the value of the burned ‘Space’ [MVC network’s gas] into the intrinsic value of the MVC-20 token, without flowing into the project party or miners’ wallets.

Introducing the Burn to Mint Mechanism:

MVC-20 stands out from BRC-20 asset protocols with its innovative Burn to Mint concept. This allows the deployer to decide the burn rate of the MVC-20 token at deployment. Subsequently, all users who mint the MVC-20 token must burn a specified amount of SPACE [MVC network’s gas] to carry out the minting. The burn rate can be set between 0 and 10 quantity of SPACE.

Key Features of MVC-20:

  1. Layer 1
  2. Fair distribution [Fair Launch]
  3. High concurrency and low latency transactions
  4. Burn to mint
  5. Customizable: Burn rate 0-10 Space
  6. Permissionless
  7. Multi-functional Launchpad
  8. Compatible with various existing ecosystems and wallets, such as Show3, Orders.Exchange, MVCswap, Metalet and Indexer

MVC-20 Official Launch Day:

Starting from January 22, 2024 [UTC 15:00PM], user can begin to explore the innovative burn to mint mechanism of MVC-20 protocol. Get ready to experience the future of blockchain with MVC-20.

For more details, please visit:
https://mvc20.space/
https://mvc20.gitbook.io/intro

Microvisionchain: Introducing the Ultimate Solution to Bitcoin’s Scalability Challenge!

Microvisionchain presents a novel concept of Unified Scaling Ecosystems for Bitcoin, aiming to resolve Bitcoin’s scalability issue definitively. This plan doesn’t merely offer a same structure to Bitcoin but enhances Bitcoin’s capabilities by:

1. Superior Scaling:
Introducing a scaling solution that outperforms traditional ETH layer2 solutions. Imagine a Bitcoin ecosystem that’s ever-expanding, equipped with a Turing complete smart contract layer, and offering ultra-low fees without congestion.

2. User-Friendly:
Keeping it simple. A single private key can be used across all related second layers/sidechains, making the transition of ecosystem applications seamless and straightforward.

3. Unified Ecosystem:
Unifying countless second layers/sidechains with BTC at the core to collectively tackle BTC’s scalability issues. This will enable global user participation in Bitcoin ecosystem applications.

Implementation Steps:

Step 1: 1 MVC

The MVC node is expected to upgrade in March or April 2024, enabling the BTC ecosystem to transition seamlessly to MVC. MVC has already solved its scalability issue, with a measured TPS of up to 10,000 and transaction fees lower than 0.1 cent. MVC is the first Bitcoin-structure side-chain to implement a layer 1 smart contract on the UTXO structure, enhancing user experience and application capabilities.

Step 2: 100 MVCs

Developers can run a replicated MVC network within half an hour and adjust parameters as needed, provided the core UTXO structure and underlying capabilities remain unchanged for future compatibility with MVC and BTC.

Step 3: Use of Bitcoin

The creation of a global Unified Scaling Ecosystem for Bitcoin will permanently solve BTC’s scalability issue. Having 100 MVCs equates to having 100 large UTXO networks fully conforming to Bitcoin. Subsequent updates will support these 100 MVCs and various third-party Bitcoin-structure second layers/sidechains/ecosystems to form a globally expanding Bitcoin ecosystem expansion network.

Supporting ecosystems:

  • Mapping Satoshi Asset Bridge
  • UTXO chain block time synchronization system
  • Wallets that support multiple chains, and more.

We’re confident that, through MVC’s POB mechanism with builder grant program, we can attract global developers to revolutionize the whole blockchain industry and permanently resolve BTC’s scalability issue together.

Benefits of the MVC Unified Scaling Ecosystem plan:

Microvisionchain is a simple and elegant scalability solution that will permanently solve Bitcoin’s scalability issue and enable Bitcoin assets to possess smart contract capability. It is a superior scaling solution than many ETH second layers, uniting future second layers to collectively address Bitcoin’s scalability in a global network.

Binance Receives Coveted Security and Privacy Certifications 7164

Binance, the world’s leading blockchain and crypto infrastructure provider, announced today that it has been awarded the coveted ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in three jurisdictions across Europe and the Middle East: France, Bahrain, and the United Arab Emirates (UAE).

Binance secured the ISO 27001 and ISO 27701 certificates as an organization meeting the internationally recognized standards in information security governance and privacy information management, respectively. Building robust security and privacy measures has always been a key priority for Binance, and these ISO certifications are a testament to the company’s consistent efforts on these fronts.

A-LIGN, the external auditor, – a technology-driven security and compliance partner trusted by more than 4,000 global organizations to help mitigate cybersecurity risks – awarded the two ISO certifications to Binance following a thorough and comprehensive evaluation of the security and privacy domains of its operations.

“Information security governance is a critical aspect of modern organizations. With these internationally recognized certifications, Binance demonstrates that it has established effective controls and protections,” said Jimmy Su, Chief Security Officer at Binance. “Users and clients on our platform can be assured that their assets and information are protected in line with the latest global standards. We have a team of highly experienced security professionals that are continuously improving, adapting, and innovating to ensure that Binance remains at the forefront of safeguarding the blockchain ecosystem.”

Stewart Thompson, Chief Data Protection Officer at Binance, added: “Users are at the heart of everything we do at Binance, which is why we’ve made privacy information management a key priority within the company. Our data protection team works closely with other teams – including security, legal, compliance, and operations – to ensure that Binance meets the strong global privacy requirements. We’re glad to see our teams’ efforts rewarded with these independently accredited certifications. This is a significant milestone for us at Binance, as we continue to advance security and privacy standards within the blockchain space.”

Moving forward, Binance will be undergoing annual surveillance audits to ensure continued conformity with the standards set out within the ISO 27001 and ISO 27701 certifications. There are also plans to expand the certifications to other regions and obtain additional internationally recognized security, privacy, and compliance certifications.

Undergoing third-party audits of our security and compliance practices is part of Binance’s broader commitment to building trust and reliability within the blockchain ecosystem through adherence to industry standards and regulations.

About Binance.com

Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by trading volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users and features an unmatched portfolio of crypto products and offerings, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. For more information, visit: https://www.binance.com

About A-LIGN

A-LIGN is the only end-to-end cybersecurity compliance solutions provider delivering compliance automation software paired with professional audit services, trusted by more than 4,000 global organizations to help mitigate cybersecurity risks. A-LIGN uniquely delivers a single-provider holistic approach as a licensed CPA firm of SOC 1 and SOC 2 Audit services, accredited ISO 27001, ISO 27701, and ISO 22301 Certification Body, HITRUST CSF Assessor firm, accredited FedRAMP 3PAO, authorized CMMC C3PAO, PCI Qualified Security Assessor Company, and PCI SSC registered Secure Software Assessor Company. Working with growing businesses to global enterprises, A-LIGN’s experts and its compliance automation platform, A-SCEND, are transforming the compliance experience.

Will Bitcoin continue to fall? 7068

Bitcoin

It’s no secret that the cryptocurrency market is quite volatile. Almost any piece of global news can affect the price of digital assets in one way or another. Take billionaire Elon Musk, for example, who was able to influence the price of Dogecoin simply by tweeting. However, this does not always happen because of a particular case and with a particular coin. In 2020, for example, the world went into lockdown for the first time in a long time. Countries’ borders were closed and the logistics of many goods began to be disrupted. People had to stay at home, fearing for their health. The Covid-19 pandemic was to blame. You would think that a virus could have an impact on digital assets. As it turns out, it was able to reach cryptocurrency as well. Because of problems in the economy, cryptocurrency has begun to lose value.

This did not last long, and a year later Bitcoin set a new historical high. The price of the first cryptocurrency was above $63,000. Those enthusiasts, who during the chaos and lockdown did not stop believing that cryptocurrency was the future and continued to invest in digital gold, were able to make good money in just one year. Bitcoin began to be prophesied to reach $100,000 in the near future. There were many explanations from analysts and financial experts that Bitcoin could do this. Today, however, the picture for the crypto industry does not look so rosy.

Since the beginning of 2022, the first cryptocurrency began to lose heavily in price, for various reasons. Today, we can observe that Bitcoin is in prolonged drawdown, just like all other digital assets. Some call it a “crypto-winter”. This has already happened to the crypto market more than once. But why is the fall so noticeable?

Experts attribute the prolonged decline in quotations to the fact that the Federal Reserve System is tightening policy in the US, which raises rates to contain inflation in the country.

As cryptocurrency is a risky asset, investors and traders are trying to get rid of it or keep it to a minimum.

Also, the recent news that one of the world’s largest cryptocurrency exchanges, FTX, has filed for bankruptcy has not had a positive impact on the value of digital assets either. The first cryptocurrency still remains in a kind of sideways position. At the time of writing, it stands at $16,993, according to CoinGecko.

What if Bitcoin keeps falling?

If the cryptocurrency drawdown continues, nothing good can come of it. As analysts say, this will entail quite serious and large changes in the global crypto market. A similar scenario was discussed this summer, in the online edition of CNews. The publication’s experts believe that continued drawdown will mean that many tokens that are not widely known will simply disappear, until there are only the top and in-demand coins that are able to survive in today’s realities.

Of course it is too early to talk about it now, things may change tomorrow if there is any positive news. But we can only wait and see what happens.

And to start trading cryptocurrencies today, you can use the RevenueBot cryptocurrency bot service.

Numen Cyber working with Binance ​​to further enhance security of the Web3 ecosystem 5119

Numen Cyber Technology, a Singapore-based cybersecurity company specializing in Web3 security solutions, recently announced that it is cooperating with Binance, the world’s leading blockchain ecosystem. As part of the technical cooperation, Numen will work with Binance to further bolster the security of the Binance ecosystem.

Numen will provide security capabilities for the Binance ecosystem across various areas, including conducting smart contract audits of on-chain projects. Binance will also leverage Numen’s expertise in threat detection and response, as well as its security event analysis and backtracking, to prevent potential economic losses caused by security attacks.

Furthermore, both companies will conduct Web3 security research aimed at functionally improving the security levels of Binance and its related projects to eliminate any potential security risks and vulnerabilities within its ecosystem.

As the Web3 threat landscape rapidly evolves, the technical cooperation between Binance and Numen is intended to continue to strengthen the security of the Binance ecosystem and help to restore the public’s confidence in the safety of the Web3 industry.

About Numen Cyber

Numen Cyber Technology is a Singapore-based cybersecurity company specializing in Web3 security solutions. The organization has discovered critical vulnerabilities in some of the world’s most well-known Web3 projects, including Aptos, Sui, Eos, Ripple and Tron.

With its Cyber Labs team comprising the world’s top security experts, it offers Web3 security services that can comprehensively cover all stages of a Web3 project’s lifecycle, such as security audits for smart contracts, public blockchains, smart wallets and exchanges.

Numen also offers on-chain smart contract threat detection and response, Web3 security situational awareness, digital currency tracing and Web3 threat intelligence to protect the digital asset security of Web3 projects and their users.

For more information, please visit numencyber.com or follow its official Twitter account at twitter.com/numencyber.

CME Group Announces Launch of Euro-denominated Bitcoin and Ether Futures 7552

CME Group, the world’s leading derivatives marketplace, today launched Bitcoin Euro and Ether Euro futures.

“The launch of these new futures contracts builds on the strong growth and deep liquidity we have seen in our existing U.S. dollar-denominated Bitcoin and Ether futures contracts,” said Tim McCourt, Global Head of Equity and FX Products, CME Group. “Our new Bitcoin Euro and Ether Euro futures will provide institutional clients, both within and outside the U.S., with more precise and regulated tools to trade and hedge exposure to the two largest cryptocurrencies by market cap.”

Bitcoin Euro and Ether Euro futures contracts will be sized at five bitcoin and 50 ether per contract. These new contracts will be cash-settled, based on the CME CF Bitcoin-Euro Reference Rate and CME CF Ether-Euro Reference Rate, which serve as once-a-day reference rates of the euro-denominated price of bitcoin and ether.

These new futures contracts will be listed on and subject to the rules of CME.

For more information on this product, please visit https://www.cmegroup.com/cryptocurrencies#explore-our-cryptocurrency-products.

As the world’s leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing.

Cristiano Ronaldo and Binance Team Up For a Legendary NFT Partnership 4361

Binance Team beyond excited to announce exclusive multi-year partnership with Portuguese football legend Cristiano Ronaldo.

The five-time Ballon D’or winner is joining forces with Binance to provide a one-of-a-kind experience for football fans worldwide, with a series of NFT collections that will launch exclusively on Binance’s official NFT platform. Registered Binance users in select countries will also be able to purchase the collections using Binance Pay.

The first collection, slated to launch later this year, will feature iconic designs created in collaboration with Ronaldo. “My relationship with the fans is very important to me, so the idea of bringing unprecedented experiences and access through this NFT platform is something that I wanted to be a part of,” said Ronaldo. “I know the fans are going to enjoy the collection as much as I do.”

Through this partnership, Binance is taking the sports fandom experience to unprecedented levels. Moreover, it will build on existing partnerships with the Argentine Football Association, the Brazilian Football Confederation, and professional sports clubs S.S. Lazio (IT) and FC Porto (PT).

“Cristiano Ronaldo is one of the world’s best footballers, and has transcended sport to become an icon in multiple industries. He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work,” said Binance Founder and CEO “CZ” (Changpeng Zhao). “We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”

To all the NFT, football, and Cristiano Ronaldo fans, this is only the beginning of what’s to come.