Google Cloud is teaming up with distributed ledger startup Digital Asset to provide development tools for blockchain apps.
Encrypted email provider ProtonMail appears to be eyeing the possibility of raising funds via an initial coin offering, according to a current job offer.
Protonmail: We Have ‘Exciting Blockchain Ventures’
The advertisement for a blockchain developer lists several “preferences” specifically relating to initial coin offerings, including “[participation] in a successful ICO” and “expert in developing secure Ethereum smart contracts.” The description adds:
Looking forward, we have some exciting blockchain-related ventures underway. You will join our team to lead these projects, which will ultimately make the blockchain easy to use and empower millions of people around the world.
ProtonMail had previously begun hinting that it wished to raise funds by “selling shares directly to the community” in April in an announcement which failed to receive universal approval.
Citing the “high” costs of hosting large numbers of new user accounts, free VPN services, and more, the company said the model “made sense on several levels.”
ICO Plans Fail To Win Hearts
“First, early investors in promising projects often get the highest returns. The community is actually the biggest supporter of ProtonMail, so it would be appropriate for the community to get these returns. This is preferable to having all the gains going to random outside investors who are motivated by greed and not by our vision for the future of the internet,” a Reddit post explained at the time. It continued:
Secondly, it allows us to raise significant amounts of capital, which will be allocated to product improvements that the community wants. More capital = better products, faster.
Third, creating a marketplace for Proton shares allows existing investors to eventually sell their shares and have those shares acquired by people that support us. This means we can eventually get to a place where all shares are held by individuals who believe in our mission, and are aligned with our goals. Proton can then never be bought as long as the community refuses to sell.
Commentators had mixed reactions. Criticism came from those who saw discrepancies between ProtonMail’s values and creation of a cryptographic token with dubious use cases — a narrative which continues as it looks to hire the required staff.
“…Since you seem to be intrigued by scammy business models, you might be interested to hear that I charge businesses to tell them they don’t need a blockchain,” Bitcoin developer Udi Wertheimer wrote on Twitter July 23.
oh for crying out loud
yo @ProtonMail, since you seem to be intrigued by scammy business models, you might be interested to hear that I charge businesses to tell them they don’t need a blockchain. My DMs are open
— Udi Wertheimer [#reckless] (@udiWertheimer) July 23, 2018
Earlier this year, encrypted messenger service Telegram abruptly halted its planned ICO after raising a reported $1.6 billion in two private pre-sales.
What do you think about Protonmail’s potential plans for an ICO? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter.
Cryptocurrency-friendly encrypted email provider ProtonMail appears to be planning an initial coin offering (ICO), a job posting has revealed. The Swiss firm, founded in 2014 by CERN researchers, has long supported cryptocurrency payments for its premium email and VPN services. Now, the company is hiring a blockchain developer for a project that may see the
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Luxembourg, LUX – July 23, 2018 – Peer Mountain is pleased to announce it has signed a partnership agreement with Syscoin, a top 100 breakthrough token that offers businesses and consumers the world’s first decentralized marketplace in order to conduct e-commerce without intermediaries.
This partnership will enable Peer Mountain to include the support of the Syscoin Protocol on its development map. The companies will work together to develop interface micros ervices to facilitate interoperability between the Peerchain Protocol and the Syscoin Protocol. In doing so, this partnership will be a way for users to purchase identity verified goods, such as alcohol and tobacco, whilst using both Peer Mountain and Syscoin services.
Both companies will exchange technical information with each other on an advanced basis. They are committed to assisting each other in developing maximum value for its communities and, most importantly, the overlapping community that shall result from this partnership.
“This partnership opens up new e-commerce opportunities for the Peer Mountain and Syscoin communities,” said Peer Mountain CEO and Founder, Jed Grant. “We are excited to partner with Syscoin and to open the possibility for selling regulated items on its Blockmarket e-commerce platform with Peerchain powered compliance.”
Syscoin is a subsidiary of the Blockchain Foundry who will support and promote Peer Mountain’s compliant service delivery technology to allow the transaction of regulated goods and services on the Blockchain Foundry marketplaces.
“We’re thrilled to work with the Peer Mountain Team. We will expand Blockmarket’s capabilities through Peer Mountain’s layer 2 Peerchain Protocol.” Said Sebastian Schepis, CIO of Blockchain Foundry.
The implementation of the Peer Mountain identity verification being used on the Syscoin network is set for 2019.
To keep up to date with all of the latest Peer Mountain news join its official Telegram channel: https://t.me/peermountain
About Peer Mountain
Peer Mountain is the cross-blockchain protocol that connects self-sovereign ID holders with businesses, enabling commerce at scale. It is the only decentralized identity network that provides businesses with instant cost-effective regulatory compliance, puts people in control of their protected personal information, and pays ID verifiers for their trustworthiness. For more information, please join the discussion in the Peer Mountain Telegram group.
About Syscoin and Blockchain Foundry
Syscoin is a blockchain protocol that provides businesses and individuals the ability to securely trade goods, assets, digital certificates, and data. The Syscoin platform allows developers to create custom scalable blockchain applications using a full feature set including custom tokens, high-speed, low-priced transactions, and more. Syscoin trades under the symbol “SYS” on leading digital asset exchanges including, Binance, Bittrex, Poloniex, Upbit, and others. For more information please visit syscoin.org. Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to incorporate blockchain technology in their businesses. The company has developed a proprietary blockchain-based ecommerce solution, Blockmarket, which is a downloadable software application, and has begun development work on a web-based Blockmarket application.
Gabriele Rigo, CEO and Founder of RigoBlock, spoke with Simon Pearson at TokenMarket’s inaugural summit in Gibraltar to break down the RigoBlock project. The two, with similar backgrounds and experience within the world of asset management and blockchain, discuss how new technology can revolutionise this traditional industry.
Delving deep into the core of RigoBlock’s foundations, Gabriele discusses his introduction into the world of blockchain as well as his background in the asset management industry. An experienced hedge fund manager, Gabriele knew that the world of asset management was a market closed to most of the general public with many hedge funds operating on a tens of million dollars budget. The RigoBlock platform sets to decentralise, democratise and innovate the asset management industry.
“I always had this idea that it shouldn’t be necessary to have a distribution to run a fund for a trader. There should be a way of running funds inexpensively.” Gabriele states. “In 2016 I started creating the first smart contracts to code funds on the blockchain and RigoBlock was born.”
The discussion also illustrates how the RigoBlock project will be available to the public based on a few principles: simple, transparent, meritocratic and democratic.
You can watch Gabriele break down the RigoBlock project with Simon Dixon at the TokenMarket Summit 2018: Insights into the Token Economy, here.
Make sure you join the RigoBlock Telegram channel so you never miss an update from the project.
A newly-published study from the Bank of Canada on incentive-based mining has confirmed what many cryptocurrency supporters have long argued: the risk of double spend attacks is relatively low on high-hashrate networks like Bitcoin and Ethereum, though smaller networks may not be quite so safe. The study, which was conducted by Jonathan Chiu and Thorsten
The post Double Spend Attacks ‘Unrealistic’ on Blockchains with High Hashrate: Bank of Canada Research appeared first on CCN
The regulator wants to be able to adjust laws without causing unnecessary obstacles to development.
Blockchain technology could help track vaccine data and help avoid safety scandals like the one currently causing uproar in China.
Asian asset management firm Fusang Investment Office is set to launch a crypto asset custody service called Fusang Vault in Hong Kong. The firm, which usually focuses its operations on private family offices in Hong Kong, Singapore and Malaysia, credits heightened interest in cryptocurrencies from high-net-worth individuals and institutional clients for the move. Crypto Custody
The post Asian Asset Management Firm to Launch Crypto Custody for Family Offices appeared first on CCN
After being touted as a game-changing cryptocurrency-friendly economy, Switzerland faces a potential brain-drain of cryptocurrency projects as local banks refuse to lend services to the sector, contrary to the government’s push. As reported by Reuters on July 19, 2018, several cryptocurrency projects are departing the European country, famed for its banking industry, as financial services are either disallowed or gradually cut off.
Swiss Banks Back off from Cryptocurrencies
Despite its ethos to stand against banks, the cryptocurrency industry massively depends on banking services for its smooth functioning. A shortage of such liquidity in countries like India and Columbia has effectively killed the local cryptocurrency industry, without the need for a blanket ban such as China’s.
Now, recent actions from Swiss banks are threatening the digital asset sector in the country, and businesses are moving to nearby Gibraltar and Liechtenstein, which offer significant banking support.
The cryptocurrency sector in Switzerland has provided much-needed employment to hundreds of citizens, as per reports. Although the figure is substantially lower compared to the traditional banking sector, observers consider it a “key innovation for the future of global finance.”
For example, Zug was dubbed “Crypto Valley” for its optimal practices towards the development of blockchain technology and has an estimated 300 cryptocurrency businesses in operation. To put things in perspective, the canton has a population of approximately 30,000 people, according to 2016 estimates, meaning one digital asset business for every hundred citizens.
However, Zug’s finance director Heinz Taennler expressed his concerns:
“They may leave if the government does not take steps to give them access to the banking system, without which they struggle to function. All their banking relationships are going to Liechtenstein.”
Taennler emphasized that “hundreds of jobs [have] been created,” and considers every added job to be of vital importance.
Banks Share Concerns
As per reports, Swiss banks express their concerns echoing an omnipresent, and alleged, cryptocurrency issue: The asset class is used to fund terrorism, and investor identities remain perpetually unknown.
Zuercher Kantonalbank (ZKB), the fourth largest Swiss bank, closed the bank accounts of over twenty cryptocurrency businesses in 2017, despite once being a prominent authority to provide services to the sector.
Reports suggest the bank cited concerns of digital asset companies conducting illegal ICOs and potentially breaching local Anti-Money Laundering (AML) laws. Banks additionally claim token issuers do not perform their due diligence on investors before depositing contributions, meaning the primary source of funds remains unknown.
Not all Is Doomed
Banks have reportedly approached Swiss regulators to help them define and implement financial legislation for cryptocurrency businesses, indicating the traditional sector is open to providing their services subject to strict laws.
Interestingly, only “a handful” of Switzerland’s 250 established banks ever offered their services to cryptocurrency firms, especially to deposit ICO funds. The number has since dropped down to two banks at the time of writing.
These are Hypothekarbank Lenzburg, a regional lender located between Zurich and Basel, and Banca Zarattini, a small bank in the predominantly Italian town of Ticino. The latter has self-imposed AML and KYC checks in place which companies need to adhere.
Meanwhile, Bank Frick in Liechtenstein has turned into a Swiss bank alternative for cryptocurrency firms, and it remains to be seen if the trend entitles the tiny landlocked country as the new Crypto Valley.
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