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Thailand’s Kasikornbank to Pilot Visa’s Blockchain Cross-Border Payments Platform

The biggest bank by market capitalization in Thailand, Kasikornbank, has become the first financial institution in the Southeast Asian country to get on board the Visa B2B Connect platform. Designed to enable fast and secure cross-border payments between businesses using blockchain technology, the platform relies on a permissioned private blockchain architecture which is operated by

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Opinion: Is India’s Central Bank Nervous About Supreme Court Allowing Crypto Trading?

The Reserve Bank of India (RBI), the central bank of the country, has told the supreme court that the institution’s decision to prohibit crypto trading should not be challenged by local businesses. In an affidavit filed with the supreme court of India, RBI stated: “The impugned circular and the impugned statement neither violate the right

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Gamechain Is a Real Game Changer for the Gaming Community

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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Everlife.AI: Reserve Your Legacy on Blockchain

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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Securix Hits Soft Cap before Opening Public Token Sale

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned

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Dubai Govt Upgrades Payment Portal DubaiPay with Blockchain technology

The Smart Dubai office, a government initiative led by the Crown Prince of Dubai, is integrating blockchain technology into its retail payments smartphone app DubaiPay, enabling reconciliation and settlement transactions in real-time. Developed in collaboration with Dubai’s Department of Finance (DoF), the Smart Dubai Office (SDO) launched the system on Sunday with a press release

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Regulators Are Landing Punches, But There’s a Long Crypto Fight Ahead

From ShapeShift’s capitulation to KYC to the New York Attorney General’s critical look at exchanges, officialdom is striking heavy blows. Stay tuned.

PR: Last Chance to Contribute to Modex Tech ICO

Last Chance to Contribute to Modex Tech ICO

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

The Modex ITO closes this Monday, on September 24t (6:00 pm CET). This is your chance to sign up and support the company developing the world’s First Multi-Protocol Smart Contract Marketplace with comprehensive dev tools, meant to help developers make smart contracts event smarter.

Modex, the world’s first App Store for the Blockchain and one of the few ITOs with a functional product on the market, is the go to place for developers looking to monetize their blockchain programming skills and increase their revenue, as well as companies in need of blockchain development services and ready-to-buy smart Contracts.

Built by the team behind the award-winning peer-to-peer mobile payments app Moneymailme, Modex is a smart contract marketplace for developers to upload and sell their products, after they have been carefully vetted and audited.

The Modex ITO will last until the 24th of September, or until its cap is reached. The Modex ITO is currently open and accepting contributions from all supporters of the smart contract marketplace.

Early indications of enthusiasm for the platform is clear, as over 800 blockchain developers (https://www.modex.tech/developers) from all over the world have registered to join the community and the Modex team is already onboarding clients for their smart contracts.

By identifying a list of key use cases for smart contracts to prioritize in order to both attract development talent and seed the marketplace with strategic smart contracts, Modex is set to bridge the gap between businesses and blockchain developers, based on real-world needs.

The Modex token is based on ERC20. After the ITO, Modex will be issuing Modex tokens that can be used to pay platform service fees, make smart contract purchases and gain access to a complete suite of APIs for decentralised transactions.

“Blockchain technology is one of the biggest game changers at the moment, because we can use it to secure trust in just about anything – from financing, holding assets, healthcare records, smart certificates, verification of products and even election and voting records. Modex is set to revolutionise the future as the opportunities for smart contracts uses are endless, bringing a huge leap forward for everyone and a huge opportunities.”, states Modex’s CEO Mihai Ivascu.

Serial social-impact and blockchain entrepreneur, with over 10 years of experience in project management, FinTech, software development and start-up consulting, Modex’s Founder and CEO was awarded by Forbes 30 Under 30 in 2017 for being one of the brightest young entrepreneurs and leaders in IT & Tech.

“Although most companies already recognize the value proposition of blockchain technology, a significant number still struggle to implement it. Modex aims to bridge the gap between businesses and developers, in order to vastly accelerate global adoption of the blockchain.”, explains Ivascu.

Designed to serve both businesses and developers, the Modex marketplace will incorporate significant advantages for consumer adoption, enterprise cost savings, developer tools, community trust & engagement, all centered around the smart contract ecosystem.

The Modex team of 50 experts and advisors is made out of professionals with high level experience in developing banking and financial software, formers from Google, Oracle, Temenos, JP Morgan, Deutsche Bank, E&Y, as well as a committed and skilled team of marketing pros and successful startup entrepreneurs. Microsoft strategist Adrian Clarke, the latest tech advisor to join Modex ahead of the ITO. Formula E 2017 World Champion, Lucas Di Grassi, also supports the Blockchain startup Modex and has now become brand ambassador of the company.

Modex Website: https://www.modex.tech/
Contact Person: Mihaela Becheru
Contact Email: mihaela@modex.tech

Contact Email Address
vlad@daoagency.io

Supporting Link
https://contribute.modex.tech

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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The Daily: Rethinking Bitcoin’s Market Cap, ICOs Printing Money

The Daily: Rethinking Bitcoin’s Market Cap, ICOs Printing Money

Welcome to a new week crammed with new ways of thinking about Bitcoin and its fellow cryptocurrencies. To kick things off, today’s edition of The Daily details three big-hitting topics: Is it time to find a more accurate metric than market cap for measuring cryptocurrencies? Why are venture capital funds so enamored with stablecoins right now? And what’s the deal with ICOs covertly minting tokens to inflate their own supply?

Also read: Longhash Launches Bitcoin Tracker to Find ‘Dirty Money’

A16z Crypto Snaps Up 6% of MKR

Stablecoins are all the rage right now, especially if you’re a venture capital firm seeking an up-and-coming crypto project to back. A16z Crypto has just acquired 6% of the MKR token supply for $15 million, which will give it a stake in the DAI stablecoin issued by Makerdao from both a financial and a governance perspective. The dedicated crypto fund created by Andreessen Horowitz will lend its support to the Makerdao foundation for the next three years, and provide expertise on adoption and regulatory matters.

The Daily: Rethinking Bitcoin’s Market Cap, ICOs Printing Money

“As a first mover and innovator in stablecoins, Makerdao represents a very compelling opportunity in the crypto space,” said A16z Crypto’s general partner Katie Haun. “Makerdao’s technology, ecosystem and talent have put theory into action to deliver a decentralized stablecoin that we believe will help drive the future of the crypto economy.” Ms Haun’s role in leading the Silk Road prosecution, while with the US Department of Justice, has stuck in the craw of some bitcoiners, who believe the conviction of Ross Ulbricht to be excessive and unjust. Since entering the crypto space full-time, however, the Andreessen Horowitz and A16z Crypto partner has become an advocate for the cryptocurrencies first pioneered on early BTC-friendly sites like Silk Road.

Nic Carter: Replace Market Cap With “Realized Cap”

At the Baltic Honeybadger conference in Latvia this week, a number of well-known figures from the Bitcoin world have delivered keynote addresses, among them Castle Island Ventures’ Nic Carter. In “Bitcoin as a novel economic institution” he advocates for changing the way we calculate the market capitalization of cryptocurrencies. It’s long been acknowledged that multiplying the number of coins minted by their market price is a crude reckoner, but in the absence of a more accurate but simple metric, it’s stuck. This has led to such anomalies, as Nic Carter points out, as Bitcoin Private having a $2 billion market cap upon launch, despite the fact that the vast majority of coins were never claimed by BTC and ZCL holders.

The Daily: Rethinking Bitcoin’s Market Cap, ICOs Printing Money
BTCP’s market cap shown in blue, with its realized cap in grey.

The alternative model Nic Carter proposes, “realized cap” is more accurate, but may struggle to gain widespread adoption due to being more complex. It involves calculating the aggregate value of UTXOs priced on their value when they last moved i.e. if a whale-sized wallet of 10,000 BTC hasn’t seen any activity since 2011, those BTC are valued at the price they were at the time, rather than using 2018 valuations. The net result of all this would mean BTC’s market cap being cut from $110 billion to around $88 billion. While Nic Carter’s model is unlikely to replace standard market cap any time soon, the existence of new systems for valuing crypto networks can only be a good thing, and “realized cap” may yet earn its place on cryptocurrency tracker sites.

The Daily: Rethinking Bitcoin’s Market Cap, ICOs Printing Money
As this chart by Antoine Le Calvez shows, many bitcoins haven’t moved in years.

Edenchain Enrages Investors After Covertly Increasing Its Supply

The Daily: Rethinking Bitcoin’s Market Cap, ICOs Printing MoneyAs evidence of market cap manipulation, consider the case of Edenchain, one of the few oversubscribed token sales to have emerged this quarter, which has run into controversy. The project had already been dogged with problems over allegations of major investors, including Ian Balina, receiving preferential discounts and engaging in pooling, a practice which is generally frowned upon.

It has now been revealed that Edenchain has covertly increased its circulating supply by 150 million tokens – an increase of around 40% – after completing its crowdsale. The tokens were released because the project succeeded in raising more funds from “strategic investors”. Edenchain has now published a post detailing its revised circulating supply. Its unfortunate choice of a whale as the accompanying featured image has further bolstered the suspicion that crypto whales are being favored over ordinary retail investors who got in early but have since been squeezed out.

What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.


Images courtesy of Shutterstock, Nic Carter, Antoine Le Calvez.


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Bitcoin Takes a Breather and Falls Below $6,700, Losses Across the Board

Since September 18, within six days, the crypto market added $34 billion to its valuation. After a massive short-term rally, Bitcoin has retraced slightly, leading other major cryptocurrencies to fall by 3 to 5 percent. While Bitcoin recorded a slight loss of less than 1 percent, Ethereum, Bitcoin Cash, EOS, Stellar, and Litecoin demonstrated losses

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