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How France ICO VISA System Can Inspire Other Countries

  By David Drake   In October, the French finance minister announced that parliament approved a framework for initial coin offerings (ICOs) that would ease how fintech companies do business in the country. The progressive regulatory provision requires companies that want to launch ICOs submit white papers to French authorities for review. If successful, the companies receive an ICO visa that gives them access to banking and accounting services with ease. The framework, proposed by the French Financial Market Regulators earlier in the year, aims at protecting investors by ensuring that companies disclose economic reasons and how they spend funds after an ICO. Stakeholders will be elated as it is expected that the ICO visa will boost growth in the country’s cryptocurrency industry. ONe Network CEO and founder, John Hoelzer says, “I believe this is a step in the right direction. It seems fairly straightforward and should help foster some ... Read More »

Fidelity Investments Creates Special Crypto Platform, Will Wall Street Companies Follow?

  By David Drake   Fidelity Investments is now offering alternative solutions to clients that are in cryptocurrency trading business. The Wall Street firm has set up a new company dubbed Fidelity Digital Asset Service LLC to serve as both as custodian and trader for family offices, hedge funds, and endowment funds on various exchanges. The primary purpose of this company is to provide an avenue for secure storage of digital assets. Fidelity becomes the first Wall Street company to take this step, with other smaller companies having gone before. For most players in the cryptocurrency space, this move  to target institutional investors will have a positive effect on the cryptocurrency industry. Jori Falkstedt, CEO of Verifer says, “Absolutely positive effect. The more traditional Wall Street companies become involved in the crypto market, the more trustworthy and legitimate crypto companies will also be in the eyes of ordinary people. Also, ... Read More »

How France Could Become the Leading ICO Destination in Europe

  By David Drake   Like many countries in Europe, France is not new to cryptocurrencies. However, its popularity in the cryptocurrency space is getting better and better. This is because the French Parliament has adopted an initial coin offerings framework proposed by the country’s financial market regulator. According to the regulator, the country is positioning itself to become an ICO hub in Europe. This view is shared by Bruno Le Maire, the minister in charge of economy and finance in France. Le Maire has been reported saying that the country is aiming to become the very first key financial center to put in place a legal framework. Such a framework enables companies that initiate initial coin offerings to demonstrate to potential investors how serious they really are. ICO Visa To run ICOs in France, companies will be required to submit an application for a visa. The application will involve ... Read More »

How Binance’s Fiat-to-Crypto Exchange Addresses Key ICO Challenges in Singapore

  By David Drake   The world’s largest digital currency trading platform, Binance, started testing its beta version of fiat-to-cryptocurrency exchange in Singapore a few weeks ago. News about the launch of the fiat exchange were received positively as the country allows the use of virtual currencies and enjoys government support. But Binance’s decision to launch a fiat exchange in Singapore is not surprising at all. This is because the Asian country is considered an international economic hub with fairly low taxes and a technology-friendly atmosphere. Singapore has a reputation of being favorable when it comes to launching initial coin offerings (ICOs). As Binance tests its fiat-to-cryptocurrency platform in the country, expectations are high that it will open up it to all users in the coming months. Such a step will likely increase the success of ICOs in the country. Better User Experience For Binance, the testing of the fiat-to-crypto ... Read More »

Binance Moves to Uganda Just Weeks After Launching Tests on Beta Version in Singapore

  by David Drake     Just weeks after rolling out the testing phase for a Beta Version of the Singapore Fiat Exchange, Binance is on the news again having opened its first fiat-crypto exchange in Uganda this week. According to a press release by Binance Uganda, the newly launched branch is set to begin operations shortly, allowing users to make deposits and withdrawals in Uganda shillings. Last month, Binance unveiled a fiat-to-fiat cryptocurrency exchange in Singapore under a testing phase that is based on invites alone. This happened about a month after Binance opened the Lichtenstein exchange called Binance LCX, a fiat-to-crypto trading platform. Reports indicate that only two digital currencies – Ethereum and Bitcoin – will be traded on Uganda’s Binance cryptocurrency exchange. However, the exchange has plans to add more digital currency pairs in the near future. Focus on Blockchain In March 2017, the government of Uganda went ... Read More »

Binance Launches Beta Fiat Cryptocurrency Trading Platform in Singapore

  By David Drake   The cryptocurrency industry has attracted the interest of potential investors due to its rapid growth and high returns over the years. This has significantly increased the role that cryptocurrency exchanges play in the industry as users buy and sell cryptocurrencies. Binance is one of the exchanges that is making headways in the industry. Since its inception in 2017, Binance has been one of the fastest growing cryptocurrency exchanges and is currently the world’s largest cryptocurrency exchange by trading volume. As part of its efforts to improve the user experience, Binance has started testing a fiat to cryptocurrency trading platform in Singapore. Improving User Experience Although the cryptocurrency exchange has grown exponentially over the past year, one of the challenges users face is that they cannot convert fiat to digital currency on Binance. As such, they have to use other platforms to convert their fiat currency ... Read More »

Will Singapore Maintain its Edge in ICOs After Beta Testing Fiat-Crypto Exchange?

  by David Drake     Singapore’s third ranking as the most favorable country for successful initial coin offerings (ICOs) has just gotten better. Binance, the leading cryptocurrency exchange in the world, now with a trading in volume comparable to Nasdaq, has introduced a fiat-cryptocurrency exchange in the country. This exchange is compatible with the Singapore dollar and is presumed to not only introduce new entrants to the market but also to make it easier to convert across currencies. Binance follows up on developments made in countries such as Lichtenstein, Uganda, and South Korea, where it has already established dual cryptocurrency exchanges. The company has already made inroads in markets like the Malta Stock Exchange, which allows for security token trading. Regional Focus Trading in the volume of over a billion dollars daily, the company’s ambitions extend to future markets in Africa and Bermuda. These regions, with their already largely decentralized ... Read More »

How Coinnect Harnesses Blockchain for the Knowledge and Talent Sharing Economy

    By David Drake   With internet connectivity and mobile apps, sharing our knowledge, content, and talent globally is not a difficult feat anymore. But to do this seamlessly, in live mode and to be paid directly for those services, there lies the challenge. Coinnect is a blockchain-based platform designed for live remote services and content which offers secure, commission-free, and real-time crypto payments. The platform’s tools support live one-on-one, group, and broadcast high-quality video streaming. Coinnect’s CEO Massimiliano Rijllo shared with me recently his vision and outlook for the company and its market: 1. What problem is your ICO project addressing? Coinnect is working to innovate the way people can share their knowledge and talent. Today tools like Youtube Live allow streaming of content and receiving a percentage of the advertising revenues generated by a central streaming platform. With Coinnect, the pricing is fully decided by the person ... Read More »

1000 Dead Digital Coins: What Does this Really Mean for the Cryptocurrency Market?

  by David Drake     Initial coin offerings (ICOs) have gained popularity over the last two years. However, 2017 marked the beginning of fast paced growth for the cryptocurrency industry. In this year, bitcoin’s price increased from a low of $1000 to reach a high of $19,000 towards the end of the year. In addition, the industry has experienced an increase in the number of ICO projects. This year alone, more than 500 ICOs have been launched within the cryptocurrency space. Some notable ICO projects that have come to the fore include AnthemGold, a project that is changing the way people invest in precious metals including gold and OptDyn, creators of Subutai, the first intelligent, blockchain-based peer-to-peer cloud computing platform. ICO projects like URAllowance and Bitque use blockchain to facilitate parent-children communication and improve flexibility within the decentralized environment respectively.  In the e-commerce space, IOU is applying the technology to ... Read More »

Why Do ICO Projects Have a High Failure Rate?

  by David Drake     Over the last 18 months, initial coin offering (ICO), an unregulated method of raising funds, has gained popularity. This is because startups with innovative ideas opt to raise capital for their blockchain projects through ICOs. Backed by enterprising and innovative developers, startups are developing solutions to problems in different sectors. Examples of such projects include Bitque, an ICO project that enables traders to generate hedge trades on the short term and BlockVest, a platform that uses digital identity and blockchain technology to digitize virtual assets and smart contracts to self-manage digital assets. Other notable ICO projects include AnthemGold, a project that facilitates trading of gold and other precious metals on blockchain and Bank52 that uses blockchain to create a banking ecosystem that facilitates smart data, collaboration and network effects. The last five months have seen a significant rise in amounts raised through ICOs. Approximately $13.7 ... Read More »

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