London Football Exchanges Engages Algoz to Provide Liquidity 47326

London Football Exchange, the world’s first fully integrated football club stock exchange and fan marketplace harnessing the power of blockchain, announced today that it has engaged Algoz, a Fingenom group company and leading global liquidity and trading solutions provider for crypto markets, to provide market making services and liquidity solutions to its LFE token. The LFE token has been listed for trading on Bithumb Global Exchange on January 26, 2020. With this engagement the London Football Exchange takes a step forward in providing its token holders with continuous trading opportunities and steady liquidity.

“We are excited to be partnering with the London Football Exchange on their mission to create a new home for sport fans around the world,” said Tal Teperberg, the CEO of Algoz. “We thank the London Football Exchange for choosing our liquidity solutions and by that enabling us to combine our passion for trading with our passion for sports.”

“Algoz are established in their field, their professionalism was clear from day one and they have a proven track record, working with some of the biggest names in the industry. This again cements our habit of only partnering with best in class operators,” by Jim Aylward, Founder.

About Algoz: Algoz, being a part of the Fingenom Group, is specializing in the development of trading algorithms and the deployment of such algorithms in cryptocurrency markets. Since 2016 Algoz has been providing various financial solutions such as market making, brokerage and OTC to numerous, including some of the top funded, crypto projects and leading exchanges. With employees of strong backgrounds in computer science, mathematics, physics and engineering, Algoz works at the intersection of finance, crypto and technology. Find out more: www.Algoz.io

About London Football Exchange:

The London Football Exchange (LFE) is a blockchain-powered ecosystem comprising of several moving parts. The LFE market, a one-stop-shop for football fans powered by the LFE Cash token. The LFE Football Group, which is tasked with grouping clubs under the LFE’s ownership and accelerating the adoption of LFE Cash. The London Football Exchange where investors can purchase shares in their favorite global football teams and players, and finally the LFE Asset Management, the investment arm of the LFE.

London Football Exchange: https://lfe-token.com/ https://www.lfe-sc.com/

Images: Shutterstock.com

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LG Joins Hedera Governing Council to Accelerate Innovation and Adoption of Public DLT Globally 4722

LG Electronics Inc. and Hedera Hashgraph, an enterprise-grade distributed ledger platform, today announced that LG has joined the Hedera Governing Council. The Council, designed to enable the most decentralized governance model for a public ledger, will comprise up to 39 global organizations from a diverse array of industries and geographies.

LG is the Council’s 14th member, joining Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, Magalu, Nomura, Swirlds, Swisscom Blockchain, Tata Communications, University College London (UCL), and Wipro. As the sole home appliance manufacturer to join the Hedera Governing Council, LG will work with Hedera and other members of the Council to identify ways that distributed ledger technology can benefit consumers and supply chain partners by enabling seamless transactions.

All members of the Hedera Governing Council will run a node on the Hedera Hashgraph public network and are responsible for approving Hedera’s roadmap and updates to the platform’s codebase. Members ensure the Council’s decentralization and diversity.

Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, “We are thrilled to welcome industry leader LG to the Hedera Governing Council. For many years, LG has been visionary in their approach to adopting new technology in the name of improving the lives of customers and partners worldwide. We look forward to collaborating with LG and their ecosystem to explore the many potential ways that distributed ledger technology can similarly be applied to benefit their customer base.”

“Distributed ledger technology holds the potential to improve customer value and allow enterprises across many sectors to offer new services that take advantage of the trust, security, and speed that it provides,” said Cho Taeg-il, senior vice president of LG Electronics. “We look forward to being a part of the Hedera Governing Council and opportunities where we can collaborate with other leading organizations across a wide range of industries to further develop the application of distributed ledger technology to benefit businesses and consumers alike.”

Mechanical Technology Incorporated Announces Closing of Previously Announced GigaWatt Acquisition 7609

Mechanical Technology, Incorporated (“MTI”), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced today that EcoChain, Inc. (“EcoChain”), a wholly-owned subsidiary of MTI, has closed its acquisition of the intellectual property of Giga Watt, Inc. (“GigaWatt”) and certain other property and rights of GigaWatt associated with GigaWatt’s operation of a crypto-mining operation located in Washington State.

The acquisition was approved by the United States Bankruptcy Court for the Eastern District of Washington and was consummated by EcoChain on May 20, 2020. As previously announced by MTI, EcoChain purchased the subject GigaWatt assets for cash consideration of $200,000 and will be assuming certain contractual obligations of GigaWatt related to existing leases and utility power supply. EcoChain intends to sell certain acquired equipment that is determined to be excess in nature so as to reduce EcoChain’s overall transaction costs. EcoChain expects that the newly acquired assets will form the cornerstone of EcoChain’s new pilot cryptocurrency mining operation.

About EcoChain
EcoChain, Inc., a wholly-owned subsidiary of MTI, is developing a pilot cryptocurrency mining facility powered by renewable energy to integrate with the bitcoin blockchain network.

About MTI
MTI is engaged in the design, manufacture, and sale of test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. MTI Instrument’s products use a comprehensive array of technologies to solve complex, real world applications in numerous industries including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage.

Harmony Launches Staking, Becomes the First Sharded Proof-of-Stake Blockchain to go Live 8747

Harmony upgraded its mainnet to support staking, becoming the first blockchain to successfully combine sharding and proof-of-stake. Launch partners include Binance, Huobi and BitMax as well as professional validators such as Blockdaemon, Stake.fish and Figment Networks. Stakers on Harmony can expect to earn annual yields ranging from 45% to 15% in the first year.

Background

In 2018, the combination of proof-of-stake and sharding emerged as a leading solution for blockchain scaling. Projects like Ethereum 2.0, Near Protocol and Harmony adopted this approach for its promise to increase transaction throughput and reduce cost, while preserving decentralization.

Theoretical promise quickly gave way to the daunting technical complexity of building such a system. Fast forward to 2020 and no project has yet been able to crack the nut of sharding and proof-of-stake. That is until Harmony announced it had successfully upgraded its 4-shard network to support staking.

Impact

Being first is one thing, but the real question is does this blockchain architecture deliver on promises? And here Harmony’s making remarkable progress. Transactions on Harmony settle in 8 seconds, a welcome change for those accustomed to waiting minutes for Ethereum transactions to finalize. Costs are significantly cheaper as well. A transaction on Harmony will set you back only $0.000·001.

Sharding allows Harmony to achieve these results without sacrificing decentralization. Harmony’s network consists of over 320 public nodes and Harmony plans to increase that number to 1000 and beyond by the end of the year. By contrast chains like EOS and Libra scale at the cost of decentralization by limiting their networks to 21 and 27 nodes respectively.

Proof-of-stake blockchains have been criticized for “rich get richer” economics, in which the largest stakers earn the most. Harmony’s novel staking mechanism called “Effective Proof of Stake” counters this problem by capping the rewards of large stakers and boosting the rewards of smaller ones.

Future

Now that the core protocol work is complete, Harmony will shift focus to solving a potentially harder challenge: adoption. Harmony’s EVM compatibility makes it easy for developers in the Ethereum ecosystem to test out the new network. In addition to the protocol’s features, a comprehensive set of developer grants are planned to encourage developers to take the leap.

“Now that we’re equipped with a battle-tested base layer, we will shift gears to pursue adoption with the same nonstop execution that enabled us to launch the first sharded PoS blockchain,” said Harmony CEO, Stephen Tse. “Our scalability, speed and cost will enable use cases and user experiences that no other blockchain before us could.”

Harmony’s roadmap for 2020 includes reducing settlement times below 8 seconds, transitioning to community governance, and pursuing several promising application areas including cross-border finance and branded digital collectables.

Partners

Among Harmony’s launch supporters are numerous professional validators and exchanges. Blockdaemon, Stake.fish, Staked.us, Wetez, Sesame Seed, Everstake and InfStones are among 16 staking partners who are also top validators on Tezos, Cosmos, EOS and TRON. Binance, BitMax and Kucoin will support Harmony staking on their platforms.

About Harmony

Harmony is a fast and open blockchain for decentralized applications. Its protocol has achieved secure and random state sharding. Harmony’s Mainnet supports thousands of nodes in multiple shards, producing blocks in a few seconds with instant finality. The network’s staking mechanism reduces centralization while supporting stake delegation, reward compounding and double-sign slashing. Harmony aims to build an open network of nodes operated and governed by a large community.

FinTech arm of WEG Bank Partners with Anquan Capital to Explore Blockchain Applications for Banking and Financial Services 8669

Anquan Capital Pte. Ltd, a Singapore-based group of technology companies has partnered with the FinTech arm of the German WEG Bank AG, which operates under the brand name TEN31. Anquan Capital has launched a number of innovative technology companies including Zilliqa, Anqlave and Aqilliz. TEN31 Bank, which is currently developing into a specialist institute for blockchain-related FinTech companies, will implement joint projects with these companies in the future.

The new partners will announce specific projects over time. However, it is expected, for example, that the legal framework for crypto storage that has been in place since early 2020 will play a role. TEN31 has positioned itself accordingly at an early stage and secured permission under the grandfathering rule of the German banking code.

This collaboration will explore opportunities between Anquan Capital through Anqlave and Zilliqa. Anqlave develops custody and secure data storage solutions for enterprises, while Zilliqa is a high-throughput, high-performance blockchain for next-generation enterprises and applications.

With the new partnership, the strategy of TEN31 Bank continues to consistently focus on strategic partnerships. With this important step, the vision of the founder, Matthias von Hauff, to shape the bank into a full-service provider for FinTech customers has become a reality.

Like all TEN31 partners, Anquan attaches great importance to transparency and compliance. The partnership between the two groups now makes it possible in particular to develop services in the financial sector that require a solid regulatory framework.

Matthias von Hauff, CEO of TEN31 Bank: “With Anquan as a shareholder, we have added yet another ideal partner to our network. Not only do we benefit from their excellent technologies, but we also secure a spearhead in the Asian region in the long term.”

Max Kantelia, CEO of Anquan: “I’ve always said that bringing blockchain into the mainstream requires a concerted, multi-sectoral effort by legacy institutions, emerging tech companies, and regulators. That’s why Ten31’s forward-thinking strategy and its clear role as a regulated bridge between the legacy and blockchain holds enormous appeal for me. Today, we can see blockchain creeping from the fringes of a technology sector that few understand, and into our daily lives. It is a perfect time to collaborate with TEN31 to explore how unlocking the potential of DLT technologies could accelerate digital transformation and revolutionise finance for everybody.”

A further positive signal for the industry is the German Federal Government’s progress in pushing ahead with regulation. Industry experts are eagerly awaiting the next draft bill on crypto custody and further legislative changes in 2020. The recently published decision of the German Bundestag underlines the increasing importance of the necessary regulatory framework.

AXA Ventures Leads $5 Million Investment in Next-generation Cybersecurity Startup Hub Security 11976

Hub Security, a startup that offers military-grade cybersecurity solutions for fintech, cloud, blockchain and data storage, announced today it has closed a $5 million Series A funding round led by AXA Ventures, with participation from Jerusalem-based OurCrowd.

The company said the investment will be used to strengthen Hub Security’s team, expand their technology and offer enhanced products to fintech companies, focusing on enabling access to credit, corporate banking solutions, cross-border payments and providing ultra-secure banking solutions.

Hub Security offers a solution to growing security concerns related to cloud and enterprise organizations that are raising alarm bells across industries struggling to combat rising levels of cyberthreats and attacks. There is consensus among security experts of the need for military-grade security solutions that can address the threat of data theft and exploitation –– especially in the era of COVID-19.

“We believe this round of funding is crucial to helping us continue our mission of providing military-grade level cybersecurity solutions to top cloud, finance, and digital asset management providers,” said Eyal Moshe, Hub Security’s CEO.

“Hub Security’s end-to-end approach to the development and delivery of its hardware and software components ensures the highest level of security throughout the entire product lifecycle –– something that’s critical now more than ever in the era of COVID-19. We don’t take for granted the trust we’ve seen from investors, especially in the current financial climate.”

As a growing number of industries turn to cloud and data storage solutions, there is an increasing demand for cybersecurity solutions that can combat emerging threats.

Hub Security boasts an expanding portfolio of fintech, cloud, and insurance clientele. In February 2020, the company announced its strategic partnership with Seagate® Technology as part of its new LyveTM Labs. The initiative was launched in order to provide methods for safe and secure data management solutions, both on and off the cloud.

“Hub Security’s miniHSM is the first of its kind to offer a pocket-sized HSM solution, which provides an ultra-secure HSM-to-HSM communication layer built uniquely for cloud, banking, healthcare, and government enterprises with scalable, air-tight security that can support any cloud-based or digital asset,” said Eyal Moshe, Hub Security’s CEO.

HUB Security utilizes military-grade cybersecurity tactics for its HSM architecture that is designed for FIPS140-2 Level 4 protection (In advanced stage process) –– the highest protection level available for mobile cryptographic security solutions on the market to date.

HUB Security’s combination of hardware and software solutions include ultra-secure internal signing and authorization flows with a multi-signature vault, hardware firewall and an AI-learning system designed to anticipate unique cyberattacks.

“On our FPGA-based HSM, we have an innovative approach,” CEO Eyal Moshe said. “This is in sharp contrast to HSMs relying on legacy architecture , where you have to connect your source via PCIe — and depend on the operating system to deliver the data to your application. HUB Security approach gives very high bandwidth, as well as low latency.”

“I was actively looking for a ‘software-defined HSM’ platform company in Israel for the past 12 months and I was very pleased when I met Hub Security and learned about their unique offering. We agreed very quickly to partner and invest,” said Moshe Raines, Partner at OurCrowd and Labs/02 managing partner.

Core Scientific introduces The Cloud for Data Scientists at Equinix – Powered by NVIDIA and NetApp 13608

Core Scientific today announced the availability of The Cloud for Data Scientists AI platform-as-a-service solution pilot at an Equinix International Business Exchange™ (IBX®) data center. Built on the verified architecture ONTAP® AI, the solution combines NVIDIA DGX™ systems for accelerated compute and NetApp AFF A800 Cloud connected All Flash Storage. The Cloud for Data Scientists provides accelerated GPU compute tuned to the demands of AI and deep learning.

Core Scientific is a leader in artificial intelligence and blockchain technologies, delivering best-in-class infrastructure and software solutions. In an increasingly distributed and connected world, Core Scientific believes that AI and blockchain are changing the way information is processed, shared and stored across a range of industries.

Announced earlier this year, The Cloud for Data Scientists brings the ease of the public cloud with the myriad of benefits of co-locating at Equinix. “We are thrilled to pilot our AI platform-as-a-service in a software as-a-platform solution,” said Kevin Turner, CEO of Core Scientific. “A significant number of Fortune 500 companies are deployed in Equinix facilities and are in need of high-end AI computing services under the same roof as their data.” This will be achieved via Equinix Cloud Exchange Fabric™ (ECX Fabric™), an on-demand, SDN-enabled interconnection service that allows any business to connect between its own distributed infrastructure and any other company’s distributed infrastructure, including the world’s largest network service and cloud providers, on Platform Equinix®.

“Equinix is well positioned to be the global platform on which AI platform-as-a-service thrives. Working together with Core Scientific, NVIDIA, and NetApp, we are launching a testbed environment for data scientists at the Metro Edge,” said Steve Steinhilber, Vice President, Business Development, Equinix. “By leveraging our connectivity offerings such as ECX Fabric, participants will test their ability to move relevant data from multiple public clouds, private data lakes and from edge devices into a powerful AI solution and satisfy their low cost, low latency and compliance requirements.”

“More than ever, organizations need to find creative ways to reduce capex costs and pay as-they-go for Infrastructure services,” said Santosh Rao, Senior Technical Director, AI & Data Engineering, NetApp. “Colo based consumption models for AI infrastructure enable customers to perform rapid AI model experimentation and fast track from data science POCs to production. NetApp and NVIDIA power this Core Scientific AI platform and Equinix delivers it.”

“Enterprises everywhere want to infuse their business with AI, but many lack the infrastructure to support rapid iteration and development demanded by data science teams,” said Tony Paikeday, Director of DGX Systems, NVIDIA. “The Core Scientific AI platform combined with NVIDIA and NetApp technology, delivered through Equinix, lets businesses quickly access the AI computing power they need, in an affordable opex model with cloud-like simplicity.”

The Core Scientific AI platform-as-a-service solution is not just managed infrastructure but includes a full software stack called Plexus™. “Our software stack gives The Cloud for Data Scientist the same walk-up tooling as they may find in the public cloud,” said Ferreira, CPO. “The ability to combine this solution with the leading-edge computing of NVIDIA DGX systems and Equinix’s customer data lakes is a game changer.”