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Storecoin (STORE Token): Zero-Fee Payments And P2P Cloud Computing?

What Is Storecoin? Storecoin is a digital platform that offers zero-fee payments and P2P cloud computing. Storecoin seeks to transform data into money (Datacoins). It’s coordinated by a governance of checks and balances, separation of powers, and shared security. Storecoin aims to initiate a decentralized governance of checks and balances. The platform is currently in […]
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Why FinCEN Has The Guns Out For P2P Crypto Exchangers

In the last few months, FinCEN has started to issue some more definitive guidance in how it intends to treat businesses operating in the cryptocurrency trading and exchange space. Previously, we looked at how the regulations are affecting crypto ATMs. Here, we take a deeper look into how FinCEN intends to treat peer-to-peer (P2P) exchangers. Let’s say you changed some BTC into USD for a friend once. He sent you his BTC, and you sent him some USD in return. That friend told a few of his friends, who all asked you to do a couple of crypto trades with them. The whole thing took off a bit. Now, you have a little side business making cryptocurrency trades for your friends and their friends, and maybe a few other people you don’t know, but who heard of you from that ad you put on the internet. Some of them seemed a bit shady, now you come to think of it. Well, this little side business could end up being quite costly, now that FinCEN has made it explicit how they intend to handle P2P crypto exchangers in future. What Does the FinCEN Guidance Mean? FinCEN has recently issued two documents. The first one is a guidance document that aims to clarify the “application of FinCEN’s Regulations to Certain Business Models”. In plain English, the document explains how FinCEN will categorize different types of crypto businesses, in order to work out which legal instruments apply to them. Under this guidance document, if you’re buying or selling cryptocurrencies online yourself, then FinCEN considers you a “money service business.” This means you’re subject to particular requirements by law. Requirements include registering as an MSB with FinCEN; conducting anti-money laundering (AML) checks on your clients; and certain record keeping obligations. Even the most legitimate P2P exchanger should know that their clients aren’t using them to launder money, right? These rules apply even if you’re a person without any official business structure. The only caveat is if you could demonstrate that you’re a natural person engaging in such activity on an infrequent basis and “not for profit or gain”. So, perhaps if you’re the very specific kind of person who happens to buy crypto from a P2P exchange once every year or two and spend it very gradually on something until you need to go back and buy some more. If you’re that person, it’s possible you may be able to pull off your argument – but consult a lawyer, as this gets complicated quickly and we’re not attorneys. P2P Exchangers and Illicit Activities The second piece that came from FinCEN is an advisory on “illicit activity involving convertible virtual currency.” This document makes a clear link between P2P exchangers unregistered as an MSB and criminal activities. It points to a couple of different cases from Rochester, NY, and Arizona, where P2P exchangers had knowingly made trades enabling criminal activities. Basically, if you’re in the P2P exchanger business, and not registered as an MSB, you’re likely already in hot water. The advisory note goes on to provide several examples of ways that financial institutions could spot a P2P exchanger through different transaction or customer data patterns. Is There Any Precedent for How FinCEN Treats P2P Exchangers? Just one. Back in April this year, FinCEN took action against a P2P crypto exchanger for the first time. Eric Powers was found to have willfully violated the requirements of the Bank Secrecy Act. Powers had been trading crypto on the dark web to avoid detection. He was served with a $35k fine and barred from ever practicing as an MSB in the future. I Used LocalBitcoins Every Now and Again – Should I Be Worried? If you used LocalBitcoins as a buyer, and it really was every now and again, and your crypto spending was for something legit, then you may be okay. (See above, regarding legal advice). But if you were selling crypto on a regular (or even semi-regular) basis and making a profit from it, anywhere on the internet, then you could find that you’re operating an MSB. Perhaps unwittingly — we aren’t here to judge. LocalBitcoins themselves posted that: “In order to adapt to the current regulatory environment, we had to reconsider our policy on local cash trades as well as on geographical areas where our service is available, among other platform features. As a consequence, advertisements in the cash category (i.e. local cash trades) were disabled in our platform on Saturday 1st June.” LocalBitcoins provided a specific service in that category that may have been valuable, but that also may have been a reminder of a darker side to Bitcoin – a history that might be best remembered, and not re-enacted. At the risk of incensing any anarchists among the CB readership, it’s worth remembering that regulations like these are there to weed out the bad guys. And weedkiller is not a bad thing, as long as it doesn’t also kill the grass.   The post Why FinCEN Has The Guns Out For P2P Crypto Exchangers appeared first on Crypto Briefing.

P2P energy trading platforms — the renewables ally

P2P Energy Trading Platforms — The Renewables AllyBoth electricity producers and consumers to gainCurrently, almost 80% of the world energy is still provided by fossil fuels while energy demand is increasing in all regions of the world. In the face of climate change, environmental destruction and the rising cost of fossil resources, societies are driven to adapt and achieve sustainability. Renewable sources along with high energy efficiency are a compelling alternative.There are many consumers who would like to have the ability to consume renewable energy, but unfortunately cannot afford buying production assets. Rather than requiring electricity consumers to set up a solar roof, consumers should have the option to purchase renewable energy from their solar-powered neighbors who have surpluses.The current system unfortunately requires the public utility to play the role of middleman, i.e., third party intermediary, between prosumers and consumers who want renewable energy.But why can’t consumers buy energy directly from producers, and producers sell energy directly to consumers?The blockchain makes it possible for distributed energy resource owners (more specifically — producers) to transact in a P2P fashion with consumers. At SunContract for example, we welcome all producers of renewable energy to tap into our marketplace of electricity consumers, producers and prosumers — enabling them to transact with each other directly.Renewable energy producers on the SunContract PlatformProducers are not the only beneficiaries in this kind of P2P business model: consumers too take advantage of the best rates in the marketplace while selecting their preferred energy source.As you can see in the image above, consumers (on the SunContract platform) can see the prices available on the energy marketplace. They can also see exactly which type of energy is being offered by each producer before they accept an offer.Consumers can also set orders for electricity based on their willingness to pay (WTP) price and when a producer sets an offer that matches this price, the consumer’s order is automatically fulfilled and the two enter a P2P agreement.P2P energy trading — efficient management of decentralized energy systemsP2P energy trading technologies are an extremely efficient way of transacting energy. Blockchain improves the management of decentralised energy systems. Enabling the adoption of local energy marketplaces by localised P2P energy trading will significantly increase energy self-production and self-consumption, also known as behind the meter activities which can potentially affect revenues and tariffs.P2P trading in local energy marketplaces can also provide socio-economic incentives that promote local renewable generation and therefore might form an alternative incentive for prospective prosumers. Consumers, who cannot afford investing in renewable generation, either due to capital funding or limited space, can buy green energy at affordable prices.P2P trading platforms are still in their early stages. However, they have the potential to radically change established roles of incumbent energy companies, such as energy suppliers or grid operators, who in most countries are regulated monopolies.https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/hrefP2P energy trading platforms — the renewables ally was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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Ways of Raising Capital for Startup

There are many ways of raising capital for your startup. You must consider all options and choose the one that best suits your particular venture. Here we provide an overview of seven common ways of funding to help you weigh the pros and cons of each source and make an informed decision.

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Bitcoin Cash Developer: If Something Isn’t Done, BCH Will Cease to Exist

Last year’s Bitcoin Cash hardfork has come with multiple negative consequences. Firstly, the BCH blockchain was split into two, leading to the birth of Bitcoin Cash SV and Bitcoin Cash ABC. The BCH community was split into two after the announcement of a proposed upgrade, which resulted in the so-called Bitcoin Cash Hash Wars where organizations supporting Bitcoin Cash ABC and Bitcoin Cash SV were competing with each other to secure the most hash power to their networks. According to a BitMex study, the Hash Wars had a total cost of over $14 million. Now it seems like it is taking its toll on Bitcoin Cash developers who are having a hard time raising the funds they need for the ongoing development of the cryptocurrency’s network, leaked screenshots of messages in a Telegram group show. “Well if something is[n’t] done, Bitcoin-ABC will shut down and BCH will cease to exist,” Bitcoin Cash and Openbazaar developer Chris Pacia said. Decentralized Fundraising While Bitcoin Cash developers need funds to work on the project, they seek to acquire them in a decentralized way. End of the road for BCH development. Even Roger has tapped out. pic.twitter.com/ewH1QR9JiO — Skylark_BitCoin 🐉 (@skylark_bitcoin) June 16, 2019 “TLDR: Amaury complained about structured funding and no one knows how to solve the problem that doesn’t involve centralization of power or requires trust,” a user stated, referring to Bitcoin ABC developer Amaury Sechet. Users in the Telegram group had controversial opinions on Sechet’s way to raise funds. “I don’t see why donations from large entities can’t work, for instance, the Bitcoin.com initiative we have seen recently to raise funds,” a user wrote. “Nobody is donating. That’s why,” Openbazaar developer Chris Pacia replied. “That fundraiser probably won’t hit the goal and the goal is an order of magnitude less than what is needed,” he added. According to Pacia, “multi-coin” companies are the reason why Bitcoin Cash devs are underfunded. “The main problem as I see it is all the large companies that profit from BCH are multi-coin companies. If BCH goes under, they shrug their shoulders and life goes on for them. They have virtually no incentive to fund BCH,” he said. Planning to Raise 800 BCH Bitcoin.com, in collaboration with other projects and organizations such as Electron Cash and the FVNI Development Society, has launched a fundraiser on May 30 to support the Bitcoin Cash development team. The fundraiser has a phase one goal of acquiring 800 BCH (about $348,000) by August 1. Until now, contributors have already donated 348 BCH, reaching 43% of the goal. If Pacia is right and the money acquired from the fundraiser is much less than they need, then it seems like that Bitcoin Cash developers are in a really bad financial situation. However, if the fundraiser reaches its goal, the money should be enough for the devs to cool down and continue working on the project until they manage to find a viable long-term solution for their financials. The post Bitcoin Cash Developer: If Something Isn’t Done, BCH Will Cease to Exist appeared first on CryptoPotato.

Monero Price Prediction Today: Daily (XMR) Value Forecast – June 17

On the upside, if the bulls break the $98 overhead resistance, the crypto’s price would rise to $120 price level. On the other hand, if the bulls fail to break the overhead resistance, the market will fall to the previous low of $95. XMR /USD Medium-term Trend: Ranging Resistance Levels: $100, $105, $110 Support Levels: […]
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Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren Buffet

Coinspeaker Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren BuffetJustin Sun, CEO of Tron seems to have some magical powers. As report speculates that the blockchain expert would be meeting with one of the most influential personalities in the financial sector – Warren Buffet, Chairmain and CEO of Berkshire Hathaway. Dated to take place on July 25th, 2019, this 20th annual charity lunch will take place in Silicon Valley, San Francisco. As opposed to Buffett’s New York’s Steakhouse venue for such gathering, this variance is in a bid to honor a local charity that the late billionaire’s wife supports – Glide Foundation.According to a Twitter post, Justin Sun calls out to his fellow crypto colleague Charlie Lee to chaperone him to this prime crypto lunch get-together. Hence, the host has been applauded by the crypto community for such a clever choice of company to this once in a lifetime financial-crypto conference.The crypto power lunch, co-hosted by Omaha-based Oracle corporation, is believed to attract a budget of $4.6 million USD. Expected to be in attendance are institutional financial investors. Subsequently, in what appears to be an optimistic approach to hop into the bandwagon, the investment genius told Bloomberg: “I’m delighted with the fact that Justin has won the lunch and am looking forward to meeting him and his friends.”Speaking on the path of Warren Buffet, the American business magnate happens to be one of the most notable detractors of Bitcoin in the early days. Referring to this neoteric digital currency as a ”worthless gambling” in the past. The Billionaire Investor at some point believed that Bitcoin was a sham, as he told Becky Quick of CNBC that “It [Bitcoin] is a delusion, basically. ”But to the delight of the entire crypto community, this financial mogul seems to be retracting those comments.Where Do We Go From Here?Speaking on behalf of the entire crypto general public, Justin Sun further stipulates that this lunch is set in place to further enlighten the financial entrepreneur and not an actual partnership with the financial powerhouse – Berkshire Hathaway. He stated:“It might be unrealistic to convince Warren Buffett, just in three hours, to buy cryptocurrencies. But we want to show him the recent progress of cryptocurrency and blockchain technology.”Following blockchain’s recent involvement with several fortune 500 companies, an adoption by stellar financial tycoon such as Buffett would go a long way to bolster mainstream endorsement of cryptocurrencies. Tron CEO Justin Sun to be Accompanied by Litecoin’s Charlie Lee in a Lunch Meet-up with Warren Buffet

Tech Regulation’s Deft-Hand Problem: CEO DailySalon Viva Technology 2019, Startup connect : Day One At Porte De Versailles In Parisamurrayfortune

Good Monday morning. The rising drum roll to regulate digital platforms has understandable roots. Consider: - From an economics perspective, the marginal benefit of adding each new customer to a digital network is significant while the marginal cost is near zero, creating powerful winner-take-most-or-all dynamics. - From a business perspective, those economics tilt the playing field in a direction that feels vastly unfair to incumbents. (Which may be why upwards of 40% of the Fortune 500 CEOs we polled this year believe Alphabet, Amazon, and Facebook need additional regulation.) - From a media perspective, the tech firms are up against one of the businesses that's been most disrupted. (Check out this new data showing 2 out of every 3 digital ad dollars goes to the three companies mentioned above.) - From a political perspective, tech companies have quickly morphed from superhero to villain. The left hates them because they are big and rich; the right hates them because they tilt left. The problem is that proper regulation of digital platforms will require a deft hand, and deft hands are in short supply in Washington these days. With Teddy Roosevelt in mind, politicians are calling for "trust busting"--ignoring the fact that the network effects that drive these companies' bigness also create benefits for users. A more proper approach might be to create an FCC-style regulatory apparatus that ensures the digital platforms follow certain rules to maximize consumer benefit and minimize anti-competitive effects. But crafting intelligent legislation on such a complicated topic was hard back in the days when government was quasi-functional. In today's polarized environment, it will be near impossible. That's the one thing the tech companies have going for them. Speaking of digital disruption, finance certainly seems teed up for a tumble. (Facebook is reportedly ready to announce its cryptocurrency launch this week.) That's why Fortune is holding its first-ever Brainstorm Finance, in Montauk, N.Y., Wednesday and Thursday. We'll be mixing some of the titans of traditional finance--like Citi CEO Mike Corbat, Bank of America CEO Brian Moynihan, Charles Schwab CEO Walt Bettinger , and Edward Jones CEO Penny Pennington--with some of top digital disruptors--Ripple CEO Brad Garlinghouse, Circle CEO Jeremy Allaire, Clovyr CEO Amber Baldet, and Credit Karma CEO Ken Lin. I'll be reporting from sunny Montauk starting Wednesday. And in case you missed it--the big bombshell this weekend was David Sanger's story in the New York Times saying the U.S. government has buried "digital land mines" in the Russian power grid. President Trump tweeted the story was both "fake news" and "a virtual act of Treason." It should be no surprise, as Fortune's Robert Hackett writes, that cybersecurity IPOs are attracting particular interest this year. More news below. Alan Murray @alansmurray alan.murray@fortune.com Top NewsSouth American Blackout Speaking of power grids and cyber-stuff, an enormous blackout hit Argentina, Uruguay, Brazil, Chile and Paraguay yesterday, and Argentinian President Mauricio Macri said a cyberattack could not be ruled out as the cause. Humidity's another possible culprit. The unprecedented problem originated in Argentina's coastal transmission system--the regional grid got disconnected from all the generators at the Yacyreta hydroelectric dam. Bloomberg Crisper Boeing Boeing CEO Dennis Muilenburg says his company should have communicated more "crisply" with its customers and regulators following the fatal crashes of two of its 737 Max planes. Muilenburg regarding Boeing's safety procedures failing to spot flaws: "Clearly, we can make improvements, and we understand that and we will make those improvements." The FAA may reportedly start trials of Boeing's fixes as early as this week. Reuters Deutsche Bank The Financial Times reports that Deutsche Bank is to shrink or close its U.S. trade business and set up a so-called "bad bank" to hold or sell assets--mostly long-dated derivatives--valued at up to $56 billion after adjusting for risk. "It makes sense for us to put all these long-term, nil-revenue assets in a non-core unit," said one "senior figure at the bank." FT Huawei Hit Huawei has for the first time quantified the hit it will take from the U.S. ban on vendors selling to the Chinese telecoms giant. Founder Ren Zhenghfei said Huawei expects to lose around $30 billion in revenue over the next couple years, with overseas smartphone shipments falling by as much as 60%. Ren: "We didn't expect the U.S. would so resolutely attack Huawei. We didn't expect the U.S. would hit our supply chain in such a wide way--not only blocking the component supplies, but also our participation in international organizations." Bloomberg Around the Water CoolerP&G Wellness Procter & Gamble will try to pitch some of its most popular products, such as Crest toothpaste and Pantene shampoo, as "wellness boosters" by teaming up with Arianna Huffington's "behavioral health" firm Thrive Global. As Fortune's Sy Mukherjee writes: "Thrive's central role across the P&G portfolio will be providing what the company calls behavioral 'microsteps' in order to 'habit-stack'-i.e, build a positive, affirming mental habit into something consumers may already do every day." Fortune China Tariffs Public hearings on the Trump administration's proposed next round of tariffs on Chinese imports begin today, and the Wall Street Journal reports that many businesses have already been writing to the U.S. Trade Representative, complaining that they have no choice but to buy from China. WSJ Stock Link As of today, U.K.-listed firms will be able to also list in mainland China. The London-Shanghai Stock Connect stock link is the first to allow foreign firms to list in China. The move will allow companies in each country to raise money in the other. "Stock Connect is a groundbreaking initiative, which will deepen our global connectivity as we look outwards to new opportunities in Asia," said British Chancellor Philip Hammond. BBC Unconscious Bias Unilever had some of its marketing and ad agency staff in New York, London and Rotterdam take a DNA test and read the results, in order to test whether heritage-related revelations affected their unconscious biases. The consumer goods giant, which worked with University College London staff on the exercise, said reading the results "significantly" reduced the subjects' stereotypical thinking. CNBC This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.

Blockpass to provide blockchain ID service for Polymath STO platform

Blockpass to provide blockchain ID service for Polymath STO platform - CryptoNinjas Security token platform Polymath today announced a strategic collaboration with digital identity verification solution Blockpass, to provide clients of the platform streamlined identity verification, simplifying user onboarding and decreasing required resources in the process. Polymath is a decentralized platform that makes it easy to create and manage security tokens. In addition to providing the technology […] Blockpass to provide blockchain ID service for Polymath STO platform - CryptoNinjas
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