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Japan’s LinkedIn Rival ‘Recruit’ Invests into BEAM Privacy Coin from Its $25 Million Blockchain Fund

A Japanese company called Recruit, which is known as the local equivalent of LinkedIn, Booking.com, Yelp, Zillow and others into a single app has announced that it has invested in cryptos. The company has invested in Beam Development Limited, the company that created the BEAM tokens. We are happy to reveal that Japanese public group, Recruit Co. LTD has invested in Beam prior Mainnet. This investment helps Beam fulfill its mission in Japan too when it comes to deploying a compliant, scalable, and confidential cryptocurrency. https://t.co/suw6uaibVt @_tanayuk — @Beamprivacy (@beamprivacy) February 18, 2019 Beam Privacy Coin has revealed that the Japanese group invested in the company before they released their mainnet and that this will the company to deploy its product on Japan more easily. According to the official information released by the companies, the investment was made at the beginning of January and it was made through a Recruit’s venture fund that is only focused on investing in the blockchain technology. The value of the investment was $25 million USD. This fund is known as RSP Blockchain Tech Fund Pte. Ltd. It is designed to deploy capital to startups that are focused on this emerging tech. The company is now interested in non-equity funds and it is already planning to organize a token sale agreement that will help with the growth of the industry. Recruit decided to invest in the blockchain technology because the company decided that confidential transactions were a key element that could private companies more interested in using the blockchain, which would help with the growth of the industry as well as to benefit the company for investing in this tech. The reports affirm that Recruit saw the revolutionary aspect of cryptos and decided to facilitate innovation while preserving the confidentiality of the transactions. However, the company is certain that this kind of technology will have to be regulated in order to achieve the best results so that no abuse is made using the technology. Recruit has made at least four more blockchain investments recently, including companies like ShoCard, bitFlyer, Veem, and Shift. About BEAM BEAM is the new token created by the Beam Development Limited team. The token is a privacy coin just like Monero (XRM). It uses the MimbleWimble protocol, which is used to cloak the transactions and mix them in a way that nobody will ever be able to determine who is making the individual transactions. Because of the efficiency of the protocol, BEAM tokens made quite a significant splash when its mainnet was launched last month. BEAM has a market cap of $7.2 million USD and it is currently down 4% in the last 24 hours. Its current price is $1.17 USD. Bitcoin (BTC), Ethereum (ETH), XRP (Ripple), and BCH Price Analysis Watch (Feb 18th)
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Litecoin Collaborates With Beam Privacy For Mimblewimble Implementation

The team behind Beam Privacy has recently announced on an interesting implementation of Mimblewimble as Extensions Blocks into Litecoin. What it means is that once applied, conversion from LTC to LTC-MW and back will be possible. It’s important to mention that it’s an extension of Litecoin’s first layer nor a sidechain. The research and development process will be quite long and subject to extensive peer review. The outcome may also improve the Mimblewimble implementation in Beam assuming consistent improvements will be found during the collaboration. The implementation will be an open source and with a permissive license. In the future, Beam expects that other coins decide to integrate to it as well, especially if they are a fork of Bitcoin, which is easier to integrate. Looking For Future Implementations The fact that the Litecoin Foundation agreed to work with Beam is a testimony to their support of Mimblewimble. Improving the fungibility and privacy in crypto in general, not limited to Beam, are aligned with the team’s goal: “We believe that Beam’s implementation of Mimblewimble and Litecoin, in general, will be better due to the collaboration and peer review process.”, as reported by Beam’s Keyser Söze Guy Corem, “It will take probably over a year to implement, and a lot of high-caliber open source devs will review it.” If Mimblewimble is available on Litecoin, won’t it make Beam unneeded and redundant? “Beam isn’t a one trick pony, as according to its roadmap here. We are planning to upgrade layer1, implement LN, Confidential Assets, and Compliance and make Beam one of the most used crypto for real-world applications and use cases.” Charlie Lee, the creator of Litecoin, had recently tweeted: Team has been chatting with the @vcorem and @beamprivacy team about MimbleWimble on Litecoin with Extension Blks. Pleasantly surprised that Beam has already implemented switch-commitments w/ ElGamal. It’s a safety switch to protect against quantum computing breaking CT soundness. — Charlie Lee [LTC⚡] (@SatoshiLite) February 6, 2019 Beam Privacy is a new cryptocurrency built on the Mimblewimble protocol. The last focuses on privacy, fungibility, and scalability. Beam has recently started trading and gained popularity, together with Grin Privacy project. Beam and Grin comparison The post Litecoin Collaborates With Beam Privacy For Mimblewimble Implementation appeared first on CryptoPotato.
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Beam Privacy Coin Utilizing MimbleWimble Finds ‘Critical Vulnerability’ in its Wallet per Dev Team

A critical vulnerability was found in Beam Wallet. According to a recent tweet uploaded by Beam Privacy, the Beam developer team discovered a vulnerability in its wallet. Apparently, this affects all previously released Beam Wallets both in desktop and CLI. CRITICAL VULNERABILITY IN BEAM WALLET 9.1.2019 20:20 GMT Critical Vulnerability was found in Beam Wallet today. Vulnerability was discovered by Beam Dev Team and not reported anywhere else. Vulnerability affects all previously released Beam Wallets both Dekstop and CLI. — @Beamprivacy (@beamprivacy) January 9, 2019 The company says that the vulnerability does not affect wallet data, secret keys or passwords. In order for users to be protected, they must follow very carefully a few steps to solve this issue. The first thing that users need to do is to stop running Beam Wallets immediately. After it, users will have to uninstall the Beam Wallet application and other executables. However, the database shouldn’t be deleted, neither any other data. After all, users will have to download the Beam Wallet once again from the official website. It will have the same version numbers as previously published archives. Beam is the privacy coin that is currently implementing the MimbleWimble protocol. The company will be releasing a proper update with more information and details about this issue. Beam was officially launched back on January 3 and it is the only coin implementing the privacy protocol known as MimbleWimble. 2/4 DO NOT DELETE THE DATABASE or any other wallet data. The vulnerability DOES NOT affect wallet data, secret keys or passwords All Beam users are REQUIRED to follow the procedure below IMMEDIATELY!!! 1. Stop your currently running Beam Wallets immediately — @Beamprivacy (@beamprivacy) January 9, 2019 3/4 2. Uninstall or delete your Beam Wallet application and executables from all machines. DO NOT DELETE THE DATABASE or any other wallet data 3. Make sure the application was deleted. Check the documentation for the location of Wallet app files (https://t.co/aso6IUTkan) — @Beamprivacy (@beamprivacy) January 9, 2019 4/4 4. Download Beam Wallet again from the website only (https://t.co/RVkKoGAqN1) It will have THE SAME version numbers as previously published archives Make sure the SHA256 of the archive matches with the one published on the website. 5. Install the new application — @Beamprivacy (@beamprivacy) January 9, 2019
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Bakkt Official Launch Date, Ethereum Upgrade, Coinbase Bank & Is Everyone Ready?

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CME Futures CRUSHED Bitcoin... Will Bakkt do the Opposite?

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Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders

Yesterday’s big announcement that regulatory approval has been granted to Bakkt could be the best news bitcoin investors have had this year. It opens the door to the institutional investors and is a huge step forward for crypto industry legitimization in the US. Bakkt To Launch Next Month After months of procrastination, the new cryptocurrency trading platform launched by the Intercontinental Exchange (ICE) has finally been given the green light. The news that the Commodity Futures Trading Commission (CFTC), and the New York State Department of Financial Services, has granted regulatory approval broke late yesterday as reported by Bitcoinist. The concept of physically delivered bitcoin futures will require investors to either produce actual BTC or take delivery in them from their respective exchanges and platforms. Crypto trader at TexasWest Capital, Scott Melker, who also goes by the twitter handle ‘Wolf of All Streets’ stated the news was ‘arguably the most bullish event for institutional investors in the history of bitcoin’. The @Bakkt news is arguably the most bullish event for institutional investors in the history of bitcoin. PHYSICALLY delivered futures (require the holder to either produce actual bitcoin or take delivery from the exchange) backed by the New York Stock Exchange. We are maturing. — The Wolf Of All Streets (@scottmelker) August 16, 2019 Being backed by the New York Stock Exchange has granted bitcoin a level of legitimization never seen before. Investors will get the opportunity to trade in daily and monthly physical bitcoin futures contracts which is likely to lead to greater mainstream adoption. Bakkt is also planning to onboard a number of commercial retailers such as Starbucks which will provide an easier way for people to make purchases using bitcoin and other crypto assets. General Counsel for Compound Finance, Jake Chervinsky, was equally bullish on the Bakkt news stating that: “It offers a way for large, risk-averse institutions to buy and custody bitcoin through an end-to-end regulated system approved by the CFTC and NYDFS, and backed by the sterling reputation of ICE. Compliance lawyers rejoice!” The former litigator also noted that there is still a long way to go since there is still the SEC to contend with. When questioned on the possibility of big investors trying to short bitcoin he added; “Short sellers betting against a commodity probably don’t want to hold the underlying, so shorting via physically-delivered futures is more for entities that are net long (like miners) and want to hedge.” Fintech Business Analyst going by the twitter handle ‘Mr. Gordon’ was equally bullish on Bakkt; “This must be what it feels like to win the lottery!  The confirmation of the launch of #Bakkt changes EVERYTHING… Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make…” This must be what it feels like to win the lottery! The confirmation of the launch of #Bakkt changes EVERYTHING.. Those of us who have been investing in crytpo for the last couple of years now have some very serious decisions to make….. Like which colour to get pic.twitter.com/Klo5GwOWY7 — Mr Gordon (@MrGordon_UK) August 16, 2019 Picking a Lambo color is probably a little presumptuous at the moment. Bitcoin price did not even react to the announcement as markets remain choppy this morning. BTC is still consolidating in the mid-$10k range after two dips into four-figure territory late in the week but the long term prospects have just brightened significantly. Will Bakkt send Bitcoin price to a new all-time high later this year? Add your thoughts below. Images via Bitcoinist Image Library, Twitter: @scottmelker, @MrGordon_UK The post Here’s Why Bakkt Launch Is a Blessing For Bitcoin Holders appeared first on Bitcoinist.com.
Bitcoinist

Bakkt launch bears good news for Bitcoin’s price and regulation

One of the biggest news last year was the announcement made by the New York Stock Exchange’s parent company, Intercontinental Exchange. In August 2018, The firm announced that it would be venturing into the cryptocurrency space with the launch of a new company – Bakkt. This turned out to be an extremely bullish news in […] The post Bakkt launch bears good news for Bitcoin’s price and regulation appeared first on AMBCrypto.
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Bakkt’s Gets Nod for Physically Delivered Bitcoin Futures Approved from CFTC

The Commodities Futures Trading Commission (CFTC) has greenlighted the physically delivered Bitcoin futures product by Bakkt. Company CEO confirmed the news and said that the derivatives product would debut on September 23. Bakkt will be the first to debut physical BTC futures Kelly Loeffler, CEO of Bakkt recently announced that the startup had won approval from the US CFTC to start offering physically settled Bitcoin futures contracts. Bakkt is backed Intercontinental Exchange, and Loeffler is married to Jeff Sprecher, the CEO of ICE. With this approval, Bakkt will become the first company to launch the physical BTC futures. The products will debut on the market on September 23, and all contracts will be cleared by ICE Clear US, the same service that clears trades for NYSE. Loeffler gave a lengthy statement on the product suggest that Bakkt’s product received CFTC approval after a self-certification process. They have also started user acceptance testing. The Bitcoins backing the futures contracts will be under the custody of Bakkt Warehouse. Bakkt Trust Company, a qualified custodian, has also received approval from the New York State Department of Finance Services. She said, “This offers customers unprecedented regulatory clarity and security alongside a regulated, globally accessible exchange in a market underserved by institutional-grade infrastructure.” Bakkt wins the race The ICE-backed startup is not the only company eyeing the lucrative physically-settled Bitcoin futures sector. Numerous other companies like LedgerX are planning to bring the same opportunity to the market. LedgerX could have become the first company to launch these products as it received approval for offering futures, options and swaps settled in Bitcoin by the CFTC. However, the regulator says that the company lacks adequate approvals for launching the physical futures product. Meanwhile, Bakkt has decided to offer two types of futures contracts- daily and monthly. The collection of variation margin and initial margin collateral will be done by ICE Clear US. Product testing began last month to ensure that there are no hiccups when it eventually launches for the buyers. The qualified custodian of Bakkt will help in addressing concerns of the regulator related to manipulation and theft. Note that the company acquired Digital Asset Custody Company (DACC) earlier this year to win the New York regulator’s approval to become a qualified custodian. The company has also decided to pay $35 million for hedging against risks. Loeffler says that doing so will help bring safety for market participants and bring more integrity to this sector. The post Bakkt’s Gets Nod for Physically Delivered Bitcoin Futures Approved from CFTC appeared first on FXTimes.com - Daily Cryptocurrency and FX News.
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