Swiss Blockchain Hackathon has made a collaboration with PwC, Amazon Web Services

Switzerland will sponsor the Swiss Blockchain Hackathon after this season in an attempt to help companies locate real-life software of blockchain technology, based on a statement printed on Feb. 27.

The three-day event is allegedly coordinated by Switzerland’s six major blockchain and IT associations — Trust Square, Bitcoin Association Switzerland, CV Labs, Crypto Valley Association (CVA), Swiss Blockchain Federation and also swissICT — also will occur from June 21 to June 23, 2019.

Per the statement, the hackathon was made to ease the installation of blockchain across a vast array of industry sectors and help locate the tech’s concrete applications and business models. The event reportedly intends to bring around 200 business players from Switzerland and other nations.

Leading finance and tech companies are partnering with the occasion such as Accenture, Agroscope, Six Digital Exchange, Amazon Web Services, Blockfactory, Cardano, PwC, along with many others.

Switzerland has launched itself as a cryptocurrency and blockchain-friendly nation, using its worldwide hub for virtual currencies referred to as the “Crypto Valley” from the canton of Zug. According to the yearly”State of European Tech” report from tech investment company Atomico, the”Crypto Valley” was rated the high-tech technology community at Europe.

Lately, the president of the CVA, Daniel Haudenschild, announced who”we require a shift in our legislation and [sic] that needs more interaction with lawmakers and regulators. We will need to create Switzerland open and simple for organizations to invest in blockchain jobs” In addition, he noticed that the crypto keep market ruined Switzerland’s standing as a worldwide blockchain hub.

Last December, the Swiss Minister of Finance, Ueli Maurer, suggested that rather than a particular blockchain or cryptocurrency legal frame, Switzerland must tweak present legislation to permit for its new technology along with its own financial program. The authorities reportedly expects to suggest modifications to six legislation, including the civil code and insolvency legislation, this season.

Source

Should you Invest more in Cryptocurrencies?

Cryptocurrency is one of the blockchain applications which got popular. But it’s currently falling and a lot of investors and potential investors have few doubts regarding it. One of them recently asked me the question, “So should I be investing more in it or should I cash out everything I’ve invested?”

One of the common things you might have heard from everyone in the cryptocurrency is space is “Invest only if you can afford to lose it.” This particular line was ignored by a lot of people, they took “towards the moon” memes seriously and invested into it thinking that they’d get great returns.

Before I give my advice, I’d like you people to ask yourselves a few questions.

  1. Are you interested in taking more risk?
  2. Are you okay with losing all the invested amount?
  3. Do you have any other opportunities where you can invest the amount?

Are you willing to take more risk?

Cryptocurrency investments are considered to be one of the most volatile investments. Despite of a lot of technical analysis done by cryptocurrency enthusiasts, no one has been able to predict the cryptocurrency market. So you don’t know if it’s going to rise or vanish someday.

This is just like the other high risk, high gain investments, if you’re willing to take more risk then you shall consider investing into it or hold cryptocurrency. If you’re okay with less gains, then you should consider investing your money at different places such as stock market, buying digital assets or starting a business in the local market.

Are you ready to lose all the money you’ve saved?

Like I’ve mentioned above, if you’re ready to lose all the amount you’ve invested then cryptocurrency should be a place where you should consider investing your money.

It’s not investing, because when you invest your money into something, you at least know what you’re getting into. We can call it as a gamble which can either make you very rich or might even cause bankruptcy.

Besides the ups and downs in the market, make sure that you buy a physical cryptocurrency wallet such as the Ledger Nano, as the online exchanges can go down anytime and you won’t even realize when they vanish, get hacked or get compromised. Recently it was reported that Canada-based cryptocurrency exchange QuadrigaCX went missing after the death of the owner.

Do you have better investment opportunities?

If you have investment opportunities where you have complete idea about the thing, company, or person you’re investing your money into then go for it. It can actually be less risky than cryptocurrency. However, the gains also won’t be as lucrative as cryptocurrency. But there’s no guarantee that the market would go up anytime soon.

If you’re already a cryptocurrency investor then you should consider taking a share of the cryptocurrency and cashing it out and invest into something else, that way you won’t lose much on the potential cryptocurrency earnings and won’t lose much if the market does fall even more.

How can you minimize investment risks?

None of the experts can tell you where the market is heading next, If you don’t believe, just consider opening tradingview and you’ll find a lot of cryptocurrency experts showing different charts. One analysis would say that the coin would rise by 30% and the other would say that it might fall by more than 50% and some would say that the price would remain the same.

It means that no one knows where the market is heading, but everyone is trying to make some meaningful information from the pattern, information and other data they have. Don’t trust any of those graphs, think only one thing. Do you believe in bitcoin? Do you think it would come up someday? And are you willing to take the risk if it falls down? If the answer to the three questions I’ve asked before this sentence is a “YES” then you should consider investing into it or holding it.

However, a key way to minimize your loss would be, diversification. Find out different investment opportunities, invest your money equally or the projects which look more favorable, matches your risk taking abilities and invest into them. That’s the only way you’ll be able to minimize losses, if at all they happen.

Ledger releases new Bluetooth enabled Hardware Wallet and mobile app

Hardware wallets are increasing in popularity as a safe haven for cryptocurrencies. Ledger is among the world’s top suppliers of chilly pockets and its flagship Nano range has only been awarded an update.

The business introduced its most recent iteration of this popular hardware pocket in the Consumer Electronics Show (CES) in Las Vegas this past week. Based on PCmag, the recent Ledger Nano supports 13 crypto assets directly and a lot more through third party apps.

The new Ledger Nano X currently has Bluetooth and supports as much as some hundred more money kinds and wallet apps. The six fold storage growth is for third party programmers to be certain their software can only signal transactions to their own personal key.

Appearance wise it’s very like its predecessor, the Nano S, apart from the port that’s somewhat bigger. This will ease the inputs which have to be created on the apparatus itself to keep safety. Anyone who has ever put up one will understand what we’re discussing this!

Also Read: Will Dubai be the first blockchain powered city in 2020?

A brand new mobile program named Ledger Live Mobile will make the most of this newest Bluetooth connectivity. Users are now able to remotely remove or add apps for a variety of altcoins without needing to plug into a PC through USB cable. In accordance with The Verge incorporating Bluetooth continues to be a contentious movement as some wireless communications are somewhat more vulnerable to unauthorized access or interception.

Ledger says the Nano X was made to simply respond to devices running the corresponding program that has presumably been synched with all the chilly wallet. The program has its own safety attributes which maintain authenticity.

“The very fact that we’ve got a cell program and it works using the Nano X is actually the large growth of the hardware with this particular lineup,” Ledger manager Eric Larchevêque informed Coindesk.

He added that the cost for your Nano S will collapse following the Nano X has been published. In the time of writing it wasn’t yet available on the business website and also the Nano S was priced at $70. The Ledger program is anticipated to go live on the Apple App Store and Google Play Store later this month. The Nano X will soon be accessible for pre-order this week at $119 to send in March.

Also Read: Chilean Treasury releases Blockchain Platform to process public payments

The CES isn’t a crypto series but it’s given the Nano X using its 2019 “Innovation Award in Cyber Security and Personal Privacy” according to a company press release.

Will Dubai be the first blockchain powered city in 2020?

When we think of Dubai, we believe of Arab billionaire lifestyles, 6-star resorts, and awe-inspiring skyscrapers. But were you aware that programs are set up to turn Dubai into the very first blockchain-powered town by 2020?

The Director-General of Smart Dubai, Dr. Aisha Bint Butti Bin Bishr, considers that town is in prime position to establish itself as a blockchain and crypto epicenter which can develop into a fully-integrated blockchain bright city within another few years.

Blockchain Smart City in the UAE

Smart Dubai will be the organizers of this worldwide Blockchain Challenge, and this will be a blockchain-related contest geared to locating the very advanced blockchain startups from throughout the globe and to lure them to function in Dubai.

Dr. Aisha Bint Butti Bin Bishr had some very optimistic words to state in relation to Dubai’s possibility of crypto-related companies:

Dubai has established itself, and in record time, as a global destination for innovators and entrepreneurs in the Blockchain industry. Guided by the vision of our leadership, the emirate has become synonymous with bravely embracing avant-garde technologies and utilizing them to create an advanced, connected and seamless urban experience for its residents and visitors.

Also Read: Chilean Treasury releases Blockchain Platform to process public payments

Attracting some of the most recent and most advanced blockchain startups into Dubai is a part of this bigger plan known as the Dubai Blockchain Strategy 2020.

The strategy was originally declared by Smart Dubai and the Dubai Future Foundation earlier this season and is determined by making Dubai the very first ever blockchain-powered town from 2020.

Global Dubai Blockchain Challenge

The next round of this Worldwide Blockchain Challenge will be Happening in the Future Blockchain Summit on April 2-3, 2019, in the Dubai World Trade Center. The contest is a joint alliance involving Smart Dubai and Dubai Future Accelerators (DFA), which is an initiative of the Dubai Future Foundation (DFF).

Successful blockchain-related startups who pass the preliminary phases of the contest will be encouraged to train in Dubai together with all the DFA and will get an introduction into the UAE culture. The 3 winners of this contest will even get the chance to market and execute their services and products in Dubai. The winner of this contest will get $20,000 in money, whereas the second and third place will get $15,000 and $10,000 respectively.

The 2018 Future Dubai Blockchain Summit attracted over 8,000 attendees, 130 crypto-related startups and more than 140 speakers, also this year’s event promises the same.

Also Read: Overstock will be the first major firm to pay state taxes in Bitcoin

Even though it appears unlikely that Dubai is now the first blockchain-powered town by 2020, their ambition and economic might will give them an edge in their pursuit of blockchain technology invention.

Source

Chilean Treasury releases Blockchain Platform to process public payments

The Chilean General Treasury of the Republic (TGR), that manages taxation set in the nation, has established a blockchain platform to process payments, according to a press release reported on Dec. 19.

TGR, a prosperous institution under the Ministry of Finance allegedly first met together with the Digital Government Division of the Ministry General Secretariat of the Presidency of Chile to Go over the pilot in October 2018. At that moment, officials announced they’d make a blockchain platform to link taxpayers, fiscal intermediaries, and providers.

According to the December announcement, the pilot to the stage has been established. The platform shops transactions which are processed by midsize public associations — such tax obligations or patent prices — on the blockchain. Before documenting the trade, all nodes engaging in the procedure are obliged to accept it.

Also Read: Irish Govt approves Anti-Money laundering bill affecting cryptocurrency

TGR reports that it expects a frequent database utilized both by authorities, banks and institutions can help eliminate data postings, decrease time spent on obligations, in addition, to cut operational expenses, while providing the essential degree of protection for private data.

The government is researching blockchain in many locations, for example, power and finance industries. Back in April, Chile’s federal energy regulation firm declared the launching of a job depending on the Ethereum (ETH) blockchain to capture data in the country’s energy industry.

The Chilean Parliament is currently analyzing a bill on blockchain adoption which was introduced by local MPs in October. The proposition indicates carrying out research on the benefits of blockchain-based energy and security options.

Source

Overstock will be the first major firm to pay state taxes in Bitcoin

On Thursday, the internet merchant Overstock declared it would pay part of its Ohio state business tax using the famed digital money. The move comes following the country last fall introduced that a first-of-its-kind payment gateway known as OhioCrypto, which lets businesses remit taxes utilizing cryptocurrency.

In a meeting with Fortune, Ohio Treasurer Josh Mandel reported the Bitcoin tax group program is directed at providing advantage to companies, and branding the nation for a pioneer in the adoption of blockchain technology.

Mandel added that many taxpayers choose to utilize charge cards, which obliges them to pay a 2.5% service charge, but Bitcoin payments will incur a charge of just 1 percent –and none whatsoever for early filers such as Overstock.

Also Read: Chilean Treasury releases Blockchain Platform to process public payments

For the time being, the Ohio Bitcoin initiative covers just 23 kinds of company taxes that the state collects, such as those for gas and tobacco. And in the instance of Overstock, it’s electing to cover no more than the Commercial Activity Tax (CAT), which applies to companies with over $150,000 in receipts.

In 2020, Mandel states, Ohio can also expand the application to other sorts of taxes and also to individual tax filers. He added that he anticipates OhioCrypto will also offer you the choice to pay with a range of cryptocurrencies aside from Bitcoin.

Concerning amassing the Bitcoin, Ohio is for now not utilizing its cryptocurrency wallet but is relying upon Atlanta-based service supplier, BitPay, that will obtain the Bitcoin obligations and remit them into the country in U.S. bucks.

Mandel says that an Ohio car dealer was the primary company to cover in Bitcoin, but Overstock is the first firm with a nationwide presence which has declared it will do this.

CEO and creator Patrick M. Byrne in a declaration explained,

“We’ve long believed that considerate political adoption of emerging technologies for example cryptocurrencies (when accompanied by non-restrictive legislation on these technologies) is the perfect approach to guarantee the U.S. doesn’t lose our place in the forefront of their ever-advancing worldwide market,”

Also Read: Irish Govt approves Anti-Money laundering bill affecting cryptocurrency

Byrne is an outspoken cryptocurrency enthusiast, also Overstock has offered clients the choice to pay in Bitcoin. In 2017, the business also made it feasible to cover in heaps of different forms of electronic currencies.

While the amount of companies paying Ohio in Bitcoin is very likely to be modest initially, Mandel says that he thinks the program will increase in coming years, and expand into other nations. He added that he expects that the U.S. Treasury will follow Ohio’s case and permit folks to pay national taxation with cryptocurrency.

Irish Govt approves Anti-Money laundering bill affecting cryptocurrency

As per reports by The Irish Times, Even the Cabinet, the executive part of the authorities of Ireland, has approved a bill that could contribute to the European Union (EU) Fifth Anti-Money Laundering (AML) Directive.

The directive that came to force on July 9, 2018, places a new legal framework for European fiscal watchdogs to control digital currencies so as to safeguard against money laundering and terrorism funding.

In particular, the directive will expand the range to crypto platforms and pocket suppliers, finish the anonymity of savings and bank accounts, and enhance information exchange among governments. EU member nations need to incorporate the directive in their respective national laws by Jan. 20, 2020.

Along with understanding the EU directive, the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 would toughen present laws, for example, use of virtual monies for terrorist funding and restricting using prepaid cards.

Minister of Justice Charlie Flanagan stated:

“The reality is that money laundering is a crime that helps serious criminals and terrorists to function, destroying lives in the process… Criminals seek to exploit the EU’s open borders and EU-wide measures are vital for that reason. Ireland strongly supports the provisions in the fifth EU money laundering directive. ‘’

Also Read: DMM.com to cease crypto mining business

If the bill passes, financial institutions will be asked to perform stricter due diligence with regard to new customers and could be banned from opening anonymous secure deposit boxes. Furthermore, the bill will allegedly allow the Garda and the Criminal Assets Bureau to get lender records from the plan of money laundering investigations.

Last month, the European Union Blockchain Observatory and Forum created a case for electronic versions of foreign monies on a blockchain, saying:

“Putting digital versions of national currencies on the blockchain means they could then become integral parts of smart contracts. That would unlock much of the potential innovation of blockchain by allowing parties to create automated agreements, including direct transactions in these currencies, instead of having to use a cryptocurrency as a proxy.”

Also in December, crypto-friendly fintech startup Revolut acquired an EU banking permit through the Bank of Lithuania. Revolut’s users at the United Kingdom, France, Germany, and Poland are predicted to acquire a”true present account along with also a non-prepaid debit card” Furthermore, consumers’ deposits are also insured up to $100,000 (roughly $113,500) underneath the European Deposit Insurance Scheme.

Also Read: New York Assemblyman declares the creation of ‘First’ US Crypto Task Force

DMM.com to cease crypto mining business

Japanese amusement and e-commerce giant DMM.com is allegedly stopping the cryptocurrency mining organization, Bitcoin.com reported speaking to local media accounts.

DMM.com started its own crypto mining company back in October 2017. But, it currently plans to depart the company because of decreasing profitability. If reports are to be considered, the firm had made a decision to depart crypto mining company in September 2018.

“Deteriorating profitability is the principal reason,” DMM.com stated (Bitcoin.com quoted from Toyo Keizai).

It also added that,

“The withdrawal procedure like the sale of these machines will proceed around to the first half of 2019.”

The business stated that it had jeopardized safety issues of digital money mining enterprise. It said:

“I’d like customers to experience the outstanding mining website in their own lives. From such notion, DMM opened part of the [mining] farm into the general public, but that was canceled in early June. It’s as it’s judged that ensuring safety is not difficult. Overseas, theft of digital money mining machines was stable, and [there were efforts ] even in the DMM’s Kanazawa farm”

Also Read: New York Assemblyman declares creation of ‘First’ US Crypto Task Force

DMM.com is the operator of DMM Bitcoin — among those 16 controlled cryptocurrency markets in Japan. DMM founder Keishi Kameyama lately said that he intends to concentrate on the exchange company and blockchain moving ahead.

In addition, the company announced that it won’t launch its crypto trading program Cointap as intended, stating it is now hard for it to attract beginner crypto dealers in the aftermath of decreasing cryptocurrency prices along with the hack of Coincheck trade last January.

Last month, another Japanese company GMO Internet declared plans to stop the growth, manufacture, and sales of cryptocurrency mining machines. It stated that”the environment is competitive due to the diminished demand mainly because of the decrease in the cryptocurrency cost, the decrease in the sales cost, etc..”

/Source

New York Assemblyman declares creation of ‘First’ US Crypto Task Force

An assemblyman of this New York country (NYS) legislature declared in a Facebook post on Jan. 3 that the nation is going to have the state’s “initial” cryptocurrency job force.

From the article, Clyde Vanel, an NYS Assemblyman and Chair of Subcommittee on Internet and New Technologies, said that New York became the first nation in the USA (U.S.) to make a cryptocurrency task force directed at analyzing the law, usage, and also definition of electronic money. The Senate Andrew Cuomo signed the bill dubbed “The Digital Currency Study Bill” into law on Dec. 21, 2018.

Back in June, the bank’s committee of the NYS legislature voted to advance the bill to make an electronic money task force. The members of this task force — such as technologists, customers, shareholders, blockchain businesses and professors — made by the Senate, Senate, and Assembly will allegedly have to publish relevant reports by Dec. 15, 2020.

Also Read: Abkhazia Government cuts off the power of 15 Crypto Mining Farms

The analysis will examine the effects of regulations on the evolution of digital monies and blockchain businesses within the country, the usage of cryptocurrencies’ impact on local tax obligations, and also the transparency of their electronic money market.

According to the initiative,” Julie Samuels, executive director of a nonprofit organization representing New York City technology businesses, Tech: NYC, stated that”cryptocurrencies and blockchain technologies will, undoubtedly, significantly impact finance and several different businesses throughout the world for a long time ahead.” Vanel said:

“New York leads the nation in fund. We’ll also lead in appropriate fintech law. The task force of specialists will help us hit the balance between using a strong blockchain business and cryptocurrency economic surroundings while at precisely the exact same time shielding New York investors and customers.”

Other nations in the U.S. have introduced laws to make government bodies to examine the possible effect of the blockchain and crypto businesses on state trade. Back in June, Connecticut governor Dannel Malloy signed SB 443 to legislation, which established a blockchain working team to examine the technology. The legislation also created time-frames for exploring and providing reports about the possible use of crypto from criminal actions.

Source

EXCLUSIVE: Indian Police warn Public against Investing in Cryptocurrencies

The authorities of this Indian state of Jammu and Kashmir have issued a public announcement, warning the general public against spending in cryptocurrencies, neighborhood company information each day the Company Standard reported on Jan. 2.

Police allegedly warned the public against the”increased risk” of investments such as Bitcoin (BTC) and educated investors who cryptocurrencies aren’t sanctioned by the authorities. The Business Standard lent the division’s inspector general as stating:

“The public is advised to not earn any sort of investment from cryptocurrencies, virtual monies like Bitcoin since there’s a real and increased risk related to them.”

The company general further said the crypto market may experience an “abrupt and prolonged crash, exposing investors especially retail customers who stand to lose their hard-won cash.”

Also Read: DMM.com to cease crypto mining business

India currently enforces a ban on banks servicing cryptocurrency-related operations after a circular issued from the Reserve Bank of India (RBI). The tough line against electronic assets has caused the departure of numerous regional businesses along with also a challenge from the Indian Supreme Court.

Before this week,” Pon Radhakrishnan, the Minister of State at the Ministry of Finance and Ministry of Shipping, stated that the government is coming cryptocurrency law with a warning.

Radhakrishnan said that the absence of a”globally acceptable solution” supposed lawmakers was not likely to issue formal figurines in the brief term.

The RBI announced that it’s postponed strategies to develop a federal cryptocurrency or even “crypto-rupee.” India’s central bank initially declared it had been contemplating a central bank electronic money (CBDC) in April 2018, going so far as to launch an interdepartmental team to look into the possible benefits of a CBDC.

Also Read: New York Assemblyman declares creation of ‘First’ US Crypto Task Force

The findings of this group have never been revealed, and also the Hindu Business Line quotes an unidentified source as saying,

“The government does not need the electronic money anymore. It thinks it’s too premature to think about digital money.”