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A venture fund that will invest in crypto companies and protocols. Strategy - venture. Established in 2009, USA, by Marc Andreessen and Ben Horowitz, Andreessen Horowitz.

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Trump Hates Bitcoin but Nations May Hold Crypto Reserves in 10 Years

Balaji Srinivasan, a former partner at a16z and former CTO at Coinbase, has said that in the future, every nation state may have to hold crypto. Srinivasan, who now operates as an angel investor, said: “Ten years after the launch of Bitcoin, the President of the United States and the Chair of the Federal Reserve […] The post Trump Hates Bitcoin but Nations May Hold Crypto Reserves in 10 Years appeared first on CCN Markets

SEC approves 1st consumer RegA+ token Props for cross-app rewards

After cracking down on ICOs, the SEC just okayed the first two RegA+ tokens that offer an alternative way for anyone to gain a financial stake in a company, even unaccredited investors. Blockstack got approved for a $28 million digital token sale to raise money, while influencer live streaming app YouNow’s spin-off Props received a formal green light for a consumer utility ‘Howey’ token users can earn to get loyalty perks in multiple apps. Props has already raised $21 million by pre-selling tokens to Union Square Ventures, Comcast, Venrock, Andreessen Horowitz’s Chris Dixon, and YouTuber Casey Neistat, so it isn’t raising any money with the RegA+ by selling its tokens like Blockstack. Instead, users earn or ‘mine’ Props by engaging with apps like YouNow, which will award the tokens for creating broadcasts, watching videos, and tipping creators. Having more Props entitles YouNow’s 47 million registered users bonus features, VIP status, and more purchasing power with the app’s proprietary credits called Bars which users have bought $70 million-worth of to date. But unlike most virtual currencies that can only be used in a single app and don’t technically belong to consumers, the open-sourced Props blockchain system can be integrated into other apps via an API and people can export their Props to cryptocurrency wallets. That lets them apply their Props in other apps beyond YouNow. Four partnered apps have been lined up including xSplit, a 17 million registered user app for video game streaming. While Props aren’t currently redeemable for fiat currency, they were valued at $0.1369 each by the SEC-approved filing. The company is working to have Props listed on Alternative Trading Systems that work similarly to cryptocurrency exchanges. That lets Props give everyday app users a financial incentive to see the network of apps that adopt them grow. Since there’s a finite supply of 1 billion Props (with 600 million mined so far), if demand for Props rises then users could sell them for more. This creates a new growth hacking method for startups by providing a way to reward early and hardcore users. “Our offering of Props is the first consumer-facing offering of “Howey tokens” to be qualified by the SEC. It makes it the first offering of consumer-oriented utility tokens that the SEC deems compliant, outside of Bitcoin and Ether” Props CEO Adi Sideman tells me. While SEC officials have said Bitcoin and Ether aren’t securities thanks to their sufficient decentralization, they haven’t received formal approval. “We used Regulation A+ (Reg A) for this qualification, so that Props may be earned by, and provide functionality to, non accredited investors, users, apps and validators, in compliance with US regulations.” However this could also create risk for less savvy users who might misunderstand the token system and be overly convinced they’ll get rich by watching tons of musicians or comedians streaming on YouNow. Props will need to ensure partners that integrate its tokens don’t exaggerate their potential. It’s spent two years working on SEC approval but could still face consequences if Props are misrepresented. “Props enables us to turn creators into stakeholders in the network, meaning they become partners in the success of the network. It’s an important tool for us to better incentivize and align with the most important users of our apps” PeerStream CEO Alex Harrington writes. “Props abstracts, for us as developers, the technical and regulatory complexity associated with blockchain-based tokens, through a simple set of APIs that we can use to integrate the token into our apps’ experience.” With Blockstack and Props having pioneered the RegA+ approach, we could see more companies filing to use this method of raising money or sharing stakes with their users. YouNow's Props RegA+ Token Filing Approved By SEC – TechCrunch from Josh Constine

Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

Coinspeaker Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto CustodianRecently, Anchorage confirmed the closure of their Series B funding round which raised around $40 million from companies such as Visa, Blockchain Capital, and Andreessen Horowitz. These companies have reportedly led the funding round. All-together, since 2017, the company has raised more than $57 million in funding.“Our mission at Anchorage is to advance institutional participation in the digital asset class, and this funding will improve our ability to do precisely that. To have the support of pioneering organizations like Visa and Blockchain Capital is a validation of Anchorage’s vision for the emerging economy of digital assets,” commented Diogo Monica, the co-founder of Anchorage.This funding will be meant for building Anchorage’s service. The company is willing to provide all digital assets to its customers. Also, they want to integrate offerings with other financial firms and develop auditing and compliance.An interesting fact is that Visa is lately getting in various crypto-related projects. As it is reported, Visa is one of the first partners with Facebook helping with their Libra Project and have joined the Libra Association. They also will be one of the few Libra Node operators.Now, Visa is also backing Anchorage and seems very happy about their decision:“This investment is consistent with Visa’s global strategy to partner with and invest in emerging fintech companies. We’re pleased to add Anchorage to our growing investment portfolio,” explained Terry Angelos, SVP and global head of fintech at Visa.Anchorage offers a custodial solution and they claim that they have designed and built the next generation of crypto assets. And plus all that, their custody solution is included in the Libra Association.“We believe Anchorage is the safest place to hold digital assets, having modernized crypto custody beyond physical cold storage with advanced security engineering. We are leading this investment because we believe Anchorage will have a transformative impact on the financial world,” commented Bart Stephens the co-founder and managing partner of Blockchain Capital.Moreover, the company CEO believes that the cold-storage private key storing as we know it, won’t meet the requirements of institutions operating with crypto in the future. He believes that users want to make voting decisions and govern decisions in various protocols like Tezos and Maker, for example.“They want to help the protocol succeed; they can’t do that if their keys are just buried in the backyard,” referring to the outdated system in cryptocurrencies said Monica.Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

Visa, Blockchain Capital back $40 million round for crypto custodian Anchorage

Anchorage, the cryptocurrency custody provider for institutional investors, has raised $40 million in Series B funding, according to an announcement on Wednesday.  Payments giant Visa and venture firm Blockchain Capital have backed the round, with participation from existing investors such as Andreessen Horowitz (a16z Crypto). It is interesting to note that Anchorage, Visa and Andreessen Horowitz are all validator nodes for Facebook’s upcoming cryptocurrency Libra. However, that is not the reason why Visa invested in Anchorage, the custodian told The Block. The investment will go toward supporting “all digital assets and crypto-native features,” including staking and on-chain governance; integrating custody service with other financial offerings; and investing further in auditing and compliance measures, Anchorage said.  Accounting, tax preparation and auditing are “major pain points” for institutional investors who want to add digital assets to their portfolios and solving these issues will speed up adoption, according to the firm. “Our mission at Anchorage is to advance institutional participation in the digital asset class, and this funding will improve our ability to do precisely that,” said co-founder and president Diogo Monica. Anchorage came out of stealth mode earlier this year, and claims to offer a “smart storage” solution that is better than “hot wallets” and “cold storage” solutions. The firm recently said that it has incorporated a "custom logic" in its hardware security module (HSM), which processes a given transaction only by following “multiple layers" of biometric authentication. This approach allows clients to use their keys for transactions, audits, staking, voting and more, “in real time and without ever being removed from safe storage." Anchorage rivals Coinbase and BitGo, on the other hand, custody clients’ assets in cold storage. Custody is a tough space to be in, Sam Jernigan, Co-CIO of Wakem Global Opportunities Fund, a macro hedge fund that trades digital assets, told The Block recently. “Just since the summer of 2018, we’ve seen the cost of custody decline anywhere between 50 and 100 basis points,” he said.  Wednesday’s investment round brings Anchorage’s total funding to $57 million, having previously raised $17 million in a Series A round led by a16z, with participation from Khosla Ventures, PayPal co-founder Max Levchin’s SciFi VC and AngelList co-founder Naval Ravikant, among others.
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Computing At The Edge: Why IoT Requires Decentralization

The Internet of Things (IoT) is the interconnection of devices without human involvement. It is a surging area of growth in IT, and is likely to grow further once self-driving vehicles become a mainstream reality. But current Internet architecture is poorly-equipped for the surge of data transfer that will accompany the growth of IoT. The centralized structure of data handling – from user to the cloud and back – is not robust or fast enough for real-time processing needs of IoT devices. A decentralized internet is crucial to the evolution of IoT, and several DLT projects are seeking to reap the benefits.  Real-Time Data Processing Critical For IoT The Internet is currently based on centralized servers(“the cloud”) which receive data, process it, and return it to the end user. Mobile devices are merely “display vehicles” for data processed in the cloud, as Peter Levine from Andreessen Horowitz explained:     Levine predicted that the IoT would require a decentralized internet, as the need for real-time data processing rose and centralized systems became overwhelmed with data processing needs. His prediction hasn’t been far wrong. Analysts at Gartner, Inc. wrote that 8.4 billion “things” were connected to the internet in 2017, a rise of 31 percent from 2016. That figure is expected to reach 20.4 billion by 2020. Consumer retail devices account for 63 percent of IoT applications. The number is expected to balloon again to 500 billion by 2030, according to research by Cisco. Peter Levine described a future of distributed computing, referring to the most obvious example of self-driving cars processing data in real-time.  A self-driving car generates roughly ten gigabytes of data per mile, Levine explained. If vehicles on autopilot continue to grow in number, it will be impossible to send data back to centralized servers every time a car spots a stop sign or a pedestrian. They won’t be able to waste a microsecond of time. “Real-time data processing will need to occur at the edge where the information is being collected.”- Peter Levine, Andreessen Horowitz The IoT, Levine envisioned, would expand the market of data processing units from a few billion to trillions. Machine learning would still operate at the cloud level, but more and more data processing would occur in-device when and where it is needed. That’s where distributed ledger technology comes in. Distributed Ledger Technology and the IoT are About to Collide As the number of connected devices rises, they will have to rely less on central servers and more on their own computational power.  With its ability to duplicate a data storage network and create ample redundancy through its distributed characteristics, blockchain technology is an obvious solution to the rise of data volume and speed requirements. The IOTA Foundation argues their Tangle is infinitely more capable of handling the IoT-driven surge in data traffic because the DAG structure “allows transactions to be issued simultaneously, asynchronously, and continuously, as opposed to the discrete time intervals and linear expansion of a Blockchain.” While a blockchain is a sequential chain of blocks with chronological predecessor and successor blocks, IOTA’s Tangle is a complex web of transactions that are Directed (all pointing in the same direction), Acyclic (not capable of forming loops, in other words, returning back to the same transaction), and a Graph in which “reference pointers and transactions form a graph of edges and vertices.” IOTA has already formed partnerships in some key IoT verticals, such as with Jaguar Land Rover. It recently partnered with EVRYTHNG to create secure supply chains that offer end consumers trust in the provenance of products from food to fashion. Other cryptocurrencies are also seeking to provide IoT-friendly ledgers. Crypto Briefing has already introduced IoTeX, a privacy-enabled smart contract blockchain, as well as Oracle’s efforts to combine connected devices with its Hyperledger-based blockchain solutions. With fast, feeless, frictionless microtransactions auditing data across the network upon which devices connected to the Internet of Things will rely, projects like IOTA stand at the crossroads of two emerging forces that are likely to meet within a decade. The post Computing At The Edge: Why IoT Requires Decentralization appeared first on Crypto Briefing.

Travel unicorn lands $250 million in funding

Corporate business-travel platform TripActions just announced $250 million in Series D funding from venture firms Andreessen Horowitz, Zeev Ventures, Lightspeed Venture Partners, and Group 11, burnishing its unicorn status and lifting its valuation to $4 billion. What’s most important, it’s in a market segment out of the reach of the tentacles of Google Trips.

Calvin Ayre Predict’s Facebook’s Libra Would Be Forced To Have nChain Portfolio

With the announcement of Facebook’s crypto project Libra, it seems like everyone wants to join the tech giants on their new venture. The list includes Mastercard, Visa, PayPal, Stripe, eBay, Uber, Lyft, Spotify, Coinbase, Xapo, Andreessen Horowitz, Union Square Ventures, Mercy Corps, and Women's World Banking, among others. The shrewd head of nChain Calvin Ayre […]
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Crypto Pundits Still Bullish on Facebook’s Libra Amid Pushback

Crypto Execs Enthused About Libra Since Facebook released its stablecoin Libra on Tuesday, crypto industry insiders and the public alike have been waiting with bated breath for what some of the world’s most powerful people and those embroiled in all things Bitcoin (BTC) have to say about it. Interestingly, Bitcoin’s bulls have expressed excitement about the corporate-backed digital asset. Related Reading: Bitcoin (BTC) is About to See This Extremely Bullish Technical Event According to Bloomberg, Michael Novogratz, formerly a Wall Street investor, is all for the project, which intends to democratize finance and push the world to adopt decentralized systems. Novogratz said that this venture “credentializes crypto”, as Libra involves massive, heavy-hitting corporations: Visa, PayPal, Spotify, Uber, Lyft, Booking Holdings, and a16z to name a few. He adds: “It is now a matter of time before crypto and blockchain are part of both the consumer and financial infrastructure of the world. This is extremely bullish for Bitcoin and the whole ecosystem.’’ Others expressed a similar sentiment, with Circle’s Jeremy Allaire stating that the launch of Libra’s white paper is the transition point where there will be a newfound push for open finance, decentralized platforms, and crypto and blockchain more broadly. Digital Currency Group chief executive, Barry Silbert, went as far as to say that the launch of Libra is cryptocurrency’s “Netscape” moment, whereas this Facebook project will “go down in history as the catalyst that propelled digital assets (including Bitcoin) to mass global consumer adoption”. As reported by Ethereum World News, analysts expect for Libra to be extremely bullish for Bitcoin for the following reasons: Libra will catalyze the creation of proper digital asset regulation; will act as a Bitcoin onramp; promote the development of cryptocurrency infrastructure; give users reason to get involved in digital ecosystems; and provide education about these new technologies. Governments Push Back While cryptocurrency executives seem all for Libra, governments and their representatives aren’t all so sure. Maxine Waters, a House Representative, has called for Facebook to halt Libra in its tracks. She is fearful about “national security concerns, cybersecurity risks, and trading risks that are posed by cryptocurrencies,” citing Facebook’s “troubled past” (privacy imbroglios). And more recently, the Senate’s Banking Committee has, according to crypto lawyer Hailey Lennon, scheduled a meeting with Facebook on July 16th for discussion of the firm’s plans in cryptocurrency. Across the pond, a lead financial regulator in Russia, Anatoly Aksakov, claims that Libra will not be legalized in the nation. He believes that the cryptocurrency may actually harm traditional finance. Aksakov adds that he intends to restrict the creation of platforms that allow for the purchase of Libra, but noted that he wouldn’t look to crack down on foreign services operating in Russia. Mark Carney, the Governor of the Bank of England, has pledged that Libra will be heavily scrutinized and regulated, citing the cryptocurrency’s potential to be widely adopted from the get-go. French Finance Minister Bruno Le Maire followed suit with a similar comment, claiming that under no circumstances should Libra “become a sovereign currency.” Le Maire elaborated that he is worried about how this new digital asset can be used to harvest data, launder money, and finance terrorism: “This money will allow this company to assemble even more data, which only increases our determination to regulate the internet giants.” Title Image Courtesy of Facebook/Calibra The post Crypto Pundits Still Bullish on Facebook’s Libra Amid Pushback appeared first on Ethereum World News.
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Why Are China’s Tech Tycoons Excited About Facebook’s Crypto & Blockchain?

Libra Elicits Support from Crypto Diehards to Chinese Businessmen Facebook’s Libra, a to-be-launched crypto asset to be backed by a blockchain, has drawn support from all across the globe. Everyone from mainstream media and Bitcoin (BTC) pundits to technology all-stars have expressed excitement for the project. Most interestingly, however, tycoons of Chinese business have recently come out in support of the project, which has been formally endorsed by Visa, PayPal, a16z, Coinbase, Spotify, Uber, Booking Holdings (Booking.com, Kayak, etc.), and countless other corporate giants. According to cnLedger, a Twitter user that has become the go-to source for China-centric Bitcoin news, the founder of Tencent, Pony Ma, has openly endorsed Libra. In a comment, the billionaire, who founded the company behind WeChat, Fortnite, League of Legends, Clash of Clans, and other massive brands, remarked that he believes that Libra’s technology is “very mature.” Ma went on to state that the success of the cryptocurrency is dependent on “whether or not the regulation allows it.” For such a massive figure to laud Facebook, in a country where it, Bitcoin, and crypto assets are vehemently banned, this is a strong showing. Wang Xiaochuan, the chief executive of China’s second largest search engine, made a similar comment. In a comment made via Weibo, the tech legend claimed that “Internet 3.0 (meaning blockchain) is coming.” Wang added that with 2.7 billion users, a global vision and brand, a number of alliances, and other network effects, Libra is likely to make the “world different”. He did note, however, that this newfangled crypto asset could pose a “new challenge to China”. Why exactly are they excited about the project though? Well interestingly, it may have much to do with China’s overall proclivity towards harnessing blockchain systems to improve business. Although authorities, including the nation’s Central Bank, have denounced Bitcoin and its ilk as scams and more on multiple occasions, the nation is all for blockchain. It isn’t clear why this dichotic stance has been taken, but China has gone all in on this new class of technology. In fact, Chinese-English newspaper China.org.cn claimed that the nation is leading the world in “new blockchain projects.” For some reason or another, Chinese leader Xi Jinping and his cabinet members see value in this technology, especially in how it can be used in non-monetary use cases. This isn’t just propaganda. In April, the Chinese government and its partners were revealed to be supporting the construction of a so-called “blockchain city” in the Malaysian Malacca Strait with a $120 million planned investment. While Libra is unlikely to be used in China, as authorities in the region like to have complete control over local finance, the fact that one of the world’s largest companies is utilizing blockchain likely tugs on the heart strings of the aforementioned pro-technology, pro-China businessmen. Photo by Dominik Vanyi on Unsplash The post Why Are China’s Tech Tycoons Excited About Facebook’s Crypto & Blockchain? appeared first on Ethereum World News.
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UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra

The UK is studying the properties of Libra in-depth to prevent the digital currency from damaging the economy. This is what Philip Hammond, Chancellor of the Exchequer of the United Kingdom, said in a recent interview with CNBC’s Squawk Box. Hammond explained that regulators must fully understand how Libra works to counter the risks associated […] The post UK Finance Chief Ready to Engage with ‘Potentially Transformative’ Libra appeared first on CCN Markets

KOMODO Price Prediction: Long-term (KMD) Value Forecast – July 15

KMD/USD pair has moved in ranges of between $1.60 and $1.40 price lines with several failing attempts to move past the SMA indicator. The KMD/USD is now moving southwards to find a foundation towards a low trading point at $1.20 mark. KMD/USD Medium-term Trend – Bearish Resistance levels: $1.80, $2, $2.20 Support levels: $1, $0.80, […]
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Tether (USDT) Accidentally Creates $5 Billion in Crypto

Stable coins, which are backed by fiat currency, have become an integral part of the crypto ecosystem over the past couple of years, and in that regard, Tether (USDT) is possibly the most well known. However, the very fact that it is backed by fiat makes it possible for it to be prone to certain errors, and that is exactly what happened yesterday when the team behind USDT made a mistake that had an effect on the wider crypto market for some time. Administrative Error In an astonishing development, the members at Tether transferred $5 billion ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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ZILLIQA Price Prediction Today: Daily (ZIL) Value Forecast – July 15

• The short-term and medium-term outlook is in a downtrend. • Selling opportunities at the broken demand area may be considered. ZIL/USD Medium-term Trend: Bearish Supply zone: $0.02500, $0.02600, $0.027000 Demand zone: $0.01000, $0.00500, $0.00300 ZILUSD is in a downtrend in the medium-term. The bears' strong pressure broke the lower demand area of the rant […]
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