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Ledger grabs $7 million for its cryptocurrency hardware wallets

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Ledger grabs $7 million for its cryptocurrency hardware wallets

If your following CryptoCurrencies

Things are going incredibly well for Ledger these days. People find bitcoins, ethers, and other cryptocurrencies exciting again. And the French startup just raised a $7 million Series A round to make hardware security devices ubiquitous. MAIF Avenir, XAnge, Wicklow Capital, GDTRE, Libertus Capital, Digital Currency Group, The Whittemore Collection, Kima Ventures, BHB Network and Nicolas Pinto participated in today’s funding round.

If you’ve been following cryptocurrencies for a while, you know that you shouldn’t trust bitcoin and ethereum startups that centralize everything. There have been many hacks, there will be more hacks. And you don’t want to trust some startup’s security team when you can do it yourself. Sure, you can run your own bitcoin wallet on your computer. But hackers could still access your computer and your bitcoin wallet, so it’s still a point of failure.

Ledger makes hardware wallets for multiple currencies. These tiny devices have a secure element. You might not even realize it, but your smartphone also has a secure element to handle fingerprint readers or NFC payments, such as Apple Pay or Android Pay.

Ledger runs some tasks directly on the secure element, making it much more secure than running an app on your phone or your computer exclusively. This way, you can easily protect your bitcoins without a lot of security knowledge. Nobody can access the private keys on the device. And the device constantly checks the integrity of the firmware.

The company also makes sure that nobody can compromise the device during the manufacturing process. “When we manufacture the devices, all chips receive a Ledger certificate,” co-founder and CEO Eric Larchevêque told me. “When the device boots up, the computer sends a security challenge and the device answers.”

The Ledger Nano S is the company’s most popular device. It’s the size of a USB key and has a tiny display. After initiating a transaction from your computer, you’ll have to confirm the transaction on the device itself and enter your PIN code. This way, even if your computer has been compromised, the transaction order won’t go through on the device and you won’t be able to confirm the transaction.

The company also makes a high-end device with a built-in touch screen called the Ledger Blue. The Ledger Nano S costs around €70 while the Blue costs €275. Ledger has sold more than 50,000 wallets so far, and the last few months have beat the company’s expectations by a wide margin. But cryptocurrency wallets are just the first step.

By running a secure operating system on a secure element, there are other potential applications. For instance, Ledger could sell chips so that companies working in sensitive industries can make sure their servers weren’t compromised. You can imagine hedge funds and financial institutions using Ledger products. Energy suppliers could also use Ledger’s technology to make sure that the consumption level is legit. That’s why the company is raising money to go beyond hardware wallets and find those industrial clients.

Chuck Reynolds
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Alan Zibluk – Markethive Founding Member

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Indians Petition Government Demanding Legal Status for Cryptocurrencies

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indians petition government demanding leagal status for cryptocurrencies

Indians Petition Government Demanding Legal Status for Cryptocurrencies

The Indian cryptocurrency ecosystem recently woke up to a shocking news on leading media outlets. It was reported that the use of Bitcoin in the country is illegal and could attract penalties under anti-money laundering laws. However, the report was not entirely accurate, and the news platforms were quoting a Member of Parliament seeking the implementation of cryptocurrency regulations by calling Bitcoin a “Ponzi scheme”.

While the confusion was eventually cleared, the incident has sown the seeds of mistrust about the government’s stance on the digital currency. Going by the example of few drastic decisions taken by the government in the past, they have come together to demand some clarity from the government regarding its stance on cryptocurrency. They have started an online signature campaign, petitioning the government to award a legal status for Bitcoin and other cryptocurrencies in the country.

The petition is probably the first strong public campaign organized by the recently formed Digital Asset and Blockchain Foundation of India. Addressed to Arun Jaitley — India’s Finance Minister, Urjit Patel – Governor of the Reserve Bank of India and S Selvakumar – the Joint Secretary of the Department of Economics Affairs Room, the petition makes a mention of various benefits offered by Bitcoin and cryptocurrencies and how it can be used for the betterment of the country. Also, it asks the government to take steps towards stopping bad actors who misuse the cryptocurrency than banning the technology and its use.

The petition on Change.org also says,

“Cryptocurrencies will be available irrespective and the illegal users do not care about its legal status. Please do not take hasty steps and prevent innovation, economic activity and jobs. This will only stop good uses of cryptocurrencies.”

In a country which has a considerable percentage of the unbanked population and ranks at the top for receiving the highest remittance, Bitcoin can offer an efficient and inexpensive solution. The use of cryptocurrencies and their underlying technology will not only speed up the financial services sector but also a range of other industries. With the adoption of distributed ledger technology, the government can also combat rampant corruption and red tape. But strict cryptocurrency regulations will stifle progress in this regard, preventing the country from keeping up with the global trend.

David Ogden
Entrepreneur

 

Author: Gautham

Alan Zibluk – Markethive Founding Member

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Examining Bitcoin’s ups and downs

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Examining Bitcoin's ups and downs

 

  Bitcoin has progressed from being only a nerd's version of gold years ago.

Bitcoin has undergone a lot of ups and downs in its brief history. Online trading school Investoo.com has created an infographic detailing the major Bitcoin crashes since it was introduced. Bitcoin is both a cryptocurrency and an electronic payment system invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto. It was introduced on 31 October 2008 to a cryptography mailing list, and released as open source software in 2009.

Investoo.com notes Bitcoin's journey has been long, from the first Bitcoin transaction, which resulted in the kick-off of the Bitcoin blockchain on 3 January 2009, to the recent moves by Chinese authorities to restrict Bitcoin transactions.

Earlier this year, the People's Bank of China launched spot checks on the country's three largest Bitcoin exchanges to look into a range of possible rule violations, amid increasing government efforts to stem capital outflows and relieve pressure on the yuan. Stanko Saponja, an analyst at Investoo.com, notes that when Bitcoin was introduced in 2009, one Bitcoin was equivalent to $0.00076.

 In December last year, the total value of all Bitcoins in circulation hit a record high of above $14 billion. However, in January this year, the dramatic rally in digital currency came to a spectacular end with a plunge of up to 20% as China's yuan rose sharply. "In 2013, the price briefly exceeded $1 200, and this was followed by a crash in the price of Bitcoin, sending it down to below $250 soon after," Saponja notes. "This has led some skeptics to claim this price rise, too, is a bubble."

He points out the size and computing power of the Bitcoin mining network, which confirms and validates transactions, has risen exponentially since then, and the number of users, merchants, and exchange volume has grown similarly. According to Saponja, the rapid rise in 2013 is now attributed to fraudulent trading and price manipulation that exploited illiquid and immature markets, and which eventually led to the famous collapse of the primary, and corrupt, Bitcoin Exchange. "Bitcoin has gone from being just a nerd's version of gold years ago, to now being another thing people do to try to hold onto their wealth," he says.

Saponja says in 2015, Bitcoin rose modestly, from $313 to $431, a 37% rise, kicking off a year of steady growth throughout 2016. The price surged 122% in 2016, making it one of the top trades of the year (from around $400 to just under $1 000), he adds. Investoo.com notes 2016 saw relative price stability in Bitcoin, as its price rose steadily, and with lower volatility than had been experienced in the past, and it also gained wider acceptance and legitimacy as a means of payment.

Some analysts predict 2017 will be another banner year, while others are more skeptical, calling this recent rise a bubble that is waiting to burst (current price is 1 BTC = $1 023.38 – 27 March 2017). "My opinion is that demand for Bitcoin as a currency is also likely to continue to grow in 2017, again as China has promised to restrict capital outflows and to devalue its currency in order to protect exporters."

Describing the major drivers of Bitcoin, Saponja says increased demand came from China as capital controls tightened and regulators continued to devalue the yuan systematically. China and India have both been big buyers as part of a broader global landscape that has pushed Bitcoin's acceptance, further along, he notes.

"Chinese investors have bought Bitcoins as the yuan has lost its value, while the surge in India has been driven thanks to the government's decision to retire some currency denominations. In most countries, companies that trade Bitcoins onto the local currency would be regulated, as more and more larger corporations start offering Bitcoin as a payment alternative."

Nonetheless, he says Bitcoin has sometimes attracted the wrong types of people – those looking to prey on others who fall under the spell of a never-ending upward trend for Bitcoin's price. "Whether it's illegal online marketplaces, pump-and-dump schemes or shady crypto exchanges, they all create a black cloud over the industry. And, every time there is another Bitcoin robbery or scam, it draws attention from the mainstream.

"The bad actor problem creates a consumer protection issue for Bitcoin. When people learn about Bitcoin and are lured to products and services that do not follow best practices, as opaque as they may be in this industry, that's a problem. According to some analysts, the five biggest threats facing Bitcoin are the centralisation of Bitcoin, fraud, regulation, poor mobile platform support, and confidence."

Chuck Reynolds
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Alan Zibluk – Markethive Founding Member

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Japan’s Bitcoin Law Goes Into Effect Tomorrow

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Japan's Bitcoin Law Goes
Into Effect Tomorrow

 

Japan is recognizing bitcoin as a legal

Japan is set to begin recognizing bitcoin as a legal method of payment starting tomorrow. The country's legislature passed a law, following months of debate, that brought bitcoin exchanges under anti-money laundering/know-your-customer rules, while also categorizing bitcoin as a kind of prepaid payment instrument. It's a debate that began in the wake of the collapse of Mt Gox, the now-defunct bitcoin exchange that shuttered after months of growing complications and, in the end, revelations of insolvency and alleged fraud.

According to Japan’s Financial Services Agency, that law goes into effect on 1st April, putting in place capital requirements for exchanges as well as cybersecurity and operational stipulations. In addition, those exchanges will also be required to conduct employee training programs and submit to annual audits. Yet there may be more work to come in this area.

For example, Nomura Research Institute's Yasutake Okano indicated in a May 2016 report that other Japanese laws may need to change to account for the tech, including the Banking Act and Financial Instruments and Exchange Act. Reports indicate that other groups in Japan are moving to plug some of those gaps as well. According to a report from Nikkei, the Accounting Standards Board of Japan decided earlier this week to begin developing standards for digital currencies like bitcoin. Its work mirrors other efforts being undertaken elsewhere, including Australia, which began pushing for such standards late last year.

Humaniq Opens ICO Pre-Orders for
Bank Transfers, Updates App

 

Launch of its Initial Coin

Humaniq, a revolutionary new mobile application, has announced the launch of its Initial Coin Offering, hereinafter ICO, a pre-order fund for bank transfers on their website in order to meet expected high demand. The cutting edge product combines the latest biometric, Blockchain and mobile technologies in order to bring a new solution to the global problems of global financial exclusion and financial illiteracy that keep some 2.5 bln people living in poverty.

The pre-ICO page was set up in order for those who want to use dollars, euros and pounds can also join the offering and to be able to send money ahead – before the expected rush – when the ICO officially starts on April 6, 2017. Humaniq CEO Alex Fork said that he was delighted by the positive attention that the platform has been receiving, which has received more than $300,000 in pledges from participants.

He explained to Cointelegraph:

“We’ve been contacted by quite a few people who expressed their desire to contribute significant sums of Bitcoin and Ether to our ICO but who also wanted guarantees that they would receive the correct bonus, which is based on the timing of the transaction. Bitcoin transactions are sometimes taking longer than usual to resolve right now, so I wanted to offer a solution.”

Those who join earlier in the ICO will receive larger discounts than those who participate later. During the first 48 hours of the ICO, there will be a 49.9 percent bonus. Then a 25 percent bonus will be offered from April 8-14, wrapping up with a final bonus period of 12.5 percent between April 15-21. Fork developed the platform in 2016 after speaking with Ethereum co-founder Vitalik Buterin during a conference while they were discussing how the blockchain can help improve the lives of underprivileged people.

According to Fork’s whitepaper, more than three bln people live on less than $2.50 a day with around 80 percent of the population surviving on no more than $10 each day. The creation of Humaniq aims to bridge the gap through an easy-to-use application to help improve peoples’ lives.

App Upgrade

Despite their financial services app currently being in alpha (proof of concept phase for testing and collecting user interface feedback), it has been downloaded more than 1,000 times from a variety of users who are keen to take part. The simple-to-use app utilizes facial recognition for identity management and is aimed at people who don’t have access to documentation that traditional banks would require. Fork states that the team is working on two tracks: UI and backend.

Noted:

“For an app that is targeted at a worldwide demographic that speaks more than 2,000 languages, making sure the UI is as simple to use as possible while requiring minimal translation, is imperative.”

While dates for the next update have not been announced, expectations have been surpassed by the rapid growth of the idea to its successful pre-ICO. Humaniq is planning to release a live version in June or July, with a global rollout expected toward the end of 2017.

Expansion into London

Its quick growth has also seen the team expand their services after they opened their London office earlier this month. This is their third office location, including Moscow and Luxembourg. As a key strategic hub, London will provide the ideal location to develop partnerships with startups, emerging technology experts, humanitarian organizations and the philanthropic community.

Chuck Reynolds
Contributor

Alan Zibluk – Markethive Founding Member

Markethive

Thoughts On What Bitcoin’s Rise In Value Mean

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Thoughts On What Bitcoin's
Rise In Value Mean

The cryptocurrency bitcoin — money backed by mathematics rather than governments or precious metals — first came into existence around 2009. The digital currency, which is "mined" by computers, has since gained a solid number of adherents, and nearly as many questions.

 

The CryptoCurrency BitCoin

Bitcoin brags about their digital wallets, easy transfers, identity protection and minimal fees. Critics warn of the system's complexity to explain, as well as its volatility. Some question the use the money is put to, saying that anonymity can help criminals shift money safer.

But in early January, Bitcoin's value surpassed a record-high set in November 2013, and as of early March, the price continues to rise. Is this change a temporary one, coming from market influences, or does it signal broader acceptance for the currency? Members in the Forbes Technology Council have this to say about what 2017 will mean for bitcoin adoption:

Remember: Early Leaders Are Usually Not the Ultimate Winners 

I think the real question is less about how widespread bitcoin's adoption is going to be, and more about how long before other currencies adopt blockchain as their basis. The early leader in almost any technology is usually not the ultimate winner. There is already a lot of development and early exploration both into integrating blockchain into currency, but there is not clear standard — yet.

Governments Don't Want It 

You don't need to go far to recognize why bitcoin is back at record highs. Just look at the situation with China's economy right now. The SEC delayed their decision on the Winklevoss's bitcoin exchange-traded fund, which means we'll likely not see what happens for several more months under a new presidency. Governments around the world will never want a currency that is supply limited.

Adoption Set To Increase 

I think as long as it keeps going up and continues to stabilize in its pricing, more people and businesses will become interested and adopt it in the coming year. With more work being done on country regulations and standards, as well as further research on applications for blockchain, the comfort level for use will increase.

Cryptocurrency Will Grow 

The bitcoin era is halfway through its course, while cryptocurrency overall is still growing. The golden years are already gone, and only big mining pools will be able to thoroughly profit from it from now due to large investors bringing tons of technological and human resources to the table. However, cryptocurrency popularity will only increase based on Bitcoin’s success and others will emerge.

Volatility Driven By Multiple Factors 

Unlike fiat currencies, bitcoin volatility is influenced by regulation, politics and proposed technology changes. 2017 started with a record $18 billion market capitalization. With 90% of miners and 70% of trades in China, the recent regulatory moves created vast volatility. The rest of the year will see even more volatility with the political, economic and technical (such as block size debates) uncertainties.

Chuck Reynolds
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Alan Zibluk – Markethive Founding Member

Markethive

Is ItToo late to buy top Chryptocurrencies

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Is vit too late to buy top chrptocurrencies

Is It Too Late to Buy the Top Cryptocurrencies

 

While the majority perceives digital currencies including Bitcoin, Monero, Dash and Ether as either a means of payment or a token for development, there still exists a relatively large group of users who consider these digital currencies as short and mid-term investments.

Many investors within the digital currency exchange market still inquire about the timing of their investment. For short and mid-term investment, is it too late to buy the mentioned digital currencies?

Issuance rate

Dash and Ether are different from most digital currencies such as Bitcoin or Monero in the sense that they have unique monetary policies.

Ethereum, for instance, is actually an inflationary token because it operates on top of a concept called the “Issuance Rate.” The Issuance Rate represents the number of Ethereum tokens or Ether that will be created within a year. In 2017, the issuance rate of Ether is 14.75 percent.

Making the creator rich

Dash is a controversial cryptocurrency because over two mln Dash – previously known as Darkcoin – was instantaneously mined in the first 30 hours of launch. Homero, a Bitcoin trader and cryptocurrency trader, wrote:

“During the first day 2M coins were mined, and as of today, less than 3k are mined daily. Even if there were no features/community at the time, he didn’t relaunch and decided to keep his instamine, claiming that the community told him to do so. Having a fair launch is very trivial for the future of a coin, because a premined coin has only one future : to make the creator rich.”

Bitcoin and Monero, on the other hand, were launched and mined with complete transparency and legitimacy and because of their open processes. They continue to be two of the most respected and appreciated cryptocurrencies currently in existence.

Trading and price

Since Bitcoin and Monero are based on a fixed supply of coins, it is quite evident that the value of the two coins will continue to rise until their supplies are maximized. In other words, Bitcoin price will continue to increase until it hits its 21 mln supply cap. Even when the supply cap is reached, if the demand of the currencies continues to increase, its price will maintain an upward trend.

For Ethereum and Dash, the second and third largest cryptocurrencies in the world, it is difficult to predict their price trends due to their unique monetary policies.

Furthermore, Ether is considered as an alt-asset instead of a digital currency because the Ethereum network uses gas or Ether to power decentralized applications, hence the necessity of an inflationary monetary supply.

Betting on usability

In general, cryptocurrencies including Bitcoin, Monero, Dash and Ethereum are all at their early stages. For both short and mid-term investors, it is important to recognize and evaluate the technical backgrounds and usability of these cryptocurrencies.

Ethereum developers or users will argue that the price of Ether will continue to increase so long as the development community remains active.

Conclusively, it is not too late to invest in cryptocurrencies that have potential to grow and evolve.

 

David Ogden
Entrepreneur

 

 

Source : TheCoinTelegraph

 

Alan Zibluk – Markethive Founding Member

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Sweden Moves to Next Stage With Blockchain Land Registry

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Sweden Moves to Next Stage With Blockchain Land Registry

  

Sweden’s land registry authority to trial blockchain technology

A project set up last year by Sweden’s land registry authority, the Lantmäteriet, to trial blockchain technology for recording property deals has just moved to its second phase. Conducted by blockchain startup ChromaWay and consultancy group Kairos Future, the initiative is also working in partnership with two banks: SBAB and Landshypotek.

“It could be a great benefit for economic growth,” said ChromaWay CEO Henrik Hjelte on the project's potential, further arguing that Sweden is the ideal place to test a blockchain system for land titles, as trust in public authorities is high and could influence agencies elsewhere to follow suit. Under the proposed system, a buyer and seller would open a contract where banks and the land registry can view the workflow of the deal, such as due dates for payments. “In the blockchain confirmation of each step in the workflow is made with a hash, like the blockchain normally,” said Magnus Kempe of Kairos Future, adding: “Everyone has the same information and you can check it yourself.”

Another use example is verifying the existence of the IOU issued by the bank to the property buyer. “That part is going to be hidden for the others in the contract. You will only have the hash confirming from the bank that the IOU has been signed,” said Kempe. The newly entered second phase involves examining how the technology can be integrated with banks’ existing processes when verifying contracts. The firms indicated that ChromaWay’s platform won’t be handling any payments on the system – those will remain separate.

SBAB Bank, however, said it has no immediate plans to implement the tech, saying:

"Our reason to participate in the project has not been to actually implement the solution in our current processes. But rather an opportunity for us to get a better understanding of the blockchain technology and how it might possibly fit in our future products/offerings."

Trusting the digital

There remains one major hurdle to fully integrating this blockchain system for selling a house from start to finish. “We want to work fully digitally, but the law requires, at the moment, physical signatures on the papers, which makes it difficult,” explained Kempe.

While trust in digital contracts has been lagging for a long time, he argued that blockchain tech can now provide the trust needed to move forward. “As soon as the legislator understands that this is possible, I think it will come true,” said Kempe. Helping that process, the EU passed a directive in 2016 that puts more weight behind digital signatures and could eventually influence Swedish policy.

For now, the land registry project is looking at ways of working around the issue. Kempe said:

“Actually, the land registry today, they don’t receive much physical paper, they get PDFs of the contracts which are signed electronically so they don’t store the physical contracts. What we are thinking of is, you can actually sign the contract digitally in the blockchain to the land registry, they can award the land titles and then you can throw away the paper so you’re not dependent on the physical archive."

Outside interest

ChromaWay and Kairos Future said that they have been approached by more than a dozen public authorities from other countries expressing interest in the project. The team explained that they don’t hold any patents for the platform, preferring to see other organizations work on similar schemes, eventually leading to more collaboration.

Sweden’s testing of the blockchain for land titles is possibly the most ambitious application of the technology in real estate thus far. Others are working on the concept, however. Early last year, the land registry authorities in Eurasian nation Georgia began working with blockchain startup BitFury, which, in February, signed a memorandum of understanding to extend the tests to other government agencies.

According to ChromaWay’s Henrik Hjelte, the use of blockchain could be transformative for developing countries in managing ownership of property and improving transparency in real estate sales. On the other hand, proof-of-concept tests in Honduras were put on the back-burner in late 2015 over an apparent breakdown in communications between the government and Factom, the company that was supposed to conduct the trials.

ChromaWay and Kairos Future are confident about the future, though. Kempe said:

“There’s very little reason to think that this won’t work."

Chuck Reynolds
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Alan Zibluk – Markethive Founding Member

Markethive

What’s Blockchain and How Could It Impact Government?

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What's Blockchain and How Could It Impact Government?

  

Blockchain technology is the latest system governments are considering in the long-standing effort to increase efficiency.

The source code was originally created to support bitcoin, a decentralized payment processing, and stock exchange system. Creators were attempting to solve the risk that an online currency such as bitcoin could be double spent. To maintain the decentralized system, the network works on a peer-to-peer model, creating locked records that redundantly save across multiple servers.

Similar to a shared document, one transaction can be viewed across multiple places. However, a block record cannot be changed once it is recorded, only referenced as new records are made. The diffuse system is meant to act as its own iterative confirmation service.

Many people are talking about how blockchain could change everything from health records management to identity verification. “It has the potential to create new foundations for our economic and social systems. But while the impact will be enormous, it will take decades for blockchain to seep into our economic and social infrastructure,” an article in the Harvard Business Review says. Each recorded block of information represents a transaction and each transaction is redundantly recorded. Nearly 300,000 blockchain records are recorded daily for Bitcoin alone.

One UC Berkeley study expresses concern that the order of transactions is extremely important, and research firm Constellation says blockchain's main purpose is to prove entry order. Maintaining record order could be worked around if timestamps were applied by a vendor, but the necessity of this is still being debated. Blockchain has grown so much since its first mention in 2008 that an ID program and bank card were created to support refugees by an experimental Voluntary Nation program.

Aside from banking and identification confirmation, blockchain can also create smart contracts that automate transactions between parties and verify ownership of assets before the exchange is finalized by referencing older block records. Similar systems have been suggested for health-care records management and banking security where estimates of cost savings differ, anywhere from $12 billion to $15 billion.

Using a system that can decrease risk, is auditable and maintains real-time settlements could minimize the need for many record-based positions such as notaries and contract lawyers, leading to predicted savings. The multiple uses for blockchain is what concerns many stakeholders, especially as many rush to find use cases for the tech.

“When discussing blockchain technology, it is important to remember Amara's Law (named after Roy Amara, co-founder of Institute for the Future): ‘We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.’ Anytime a technology goes through a hype cycle as is happening with blockchain, I find this maxim useful to reference,” Rachel Hatch, research director at Institute for the Future, wrote in an email to Techwire.

Startups like Ascribe remove the middle man from digital art, transferring more of the profit to the artist and the art to the buyer in one series of records. Many vendors agree that as more things become connected, more records are necessary. “The Internet of Everything needs a Ledger of Everything,” the Harvard Business Review said.

Hatch referred to this as a space for opportunities for change and growth. With a similar eye on change, Congress created a Blockchain Caucus to study use cases, and Delaware is considering it for its corporate registry. Many stakeholders agree that adoption will be a long time coming because the technology is the kind to build off of, not the kind that turns a business model upside-down. “The process of adoption will be gradual and steady, not sudden, as waves of technological and institutional change gain momentum,” the Harvard article said.

Chuck Reynolds
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Alan Zibluk – Markethive Founding Member

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Blockchain Platform MultiChain Enters Beta with 15 New Partners

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Blockchain Platform MultiChain Enters Beta with 15 New Partners

  

New Industry Partners are Joining

MultiChain, the private blockchain platform launched by Coin Sciences Ltd, has entered beta phase with the release of MultiChain 1.0 for Linux and Windows. The platform has also revealed that 15 new industry partners are joining its Platform Partner Program – a consultancy group originally backed by financial services giant Accenture.

Notably, the new members of the program include three multinationals – Boston Consulting Group, PwC, and Worldline – as well as 11 smaller companies. The MultiChain platform was set up with the aim of helping organizations more easily build applications using blockchains and distributed ledgers.

CEO Shinam Arora of Primechain Technologies, a new member of the partner program, explained some of MultiChain’s use cases, saying:

"We are using MultiChain for building several blockchain-powered solutions, including shared KYC/AML, syndication of loans and consortium lending, trade finance, asset registry, asset re-hypothecation, secure documents, cross-border payments and peer-to-peer payments.”

The platform said it plans to release a final version of the software this summer. In related news, Seal Software, a contract discovery and analytics platform, has said it will integrate MultiChain into its platform. The marriage will enable a machine-learning framework based on what the company called "intelligent contracts" to be used in conjunction with MultiChain's blockchain functionality.

Chain and Thales Interlock for
Blockchain Key Security Solution

 

A new Integration with Blockchain

French cyber-defense and aerospace firm Thales has launched a new integration with blockchain startup Chain aimed to boost blockchain security. The partnership will see Chain bridging its enterprise-focused blockchain software capabilities with the nShield hardware security module (HSM) developed by Thales. The move comes shortly after Thales unveiled a blockchain offering in conjunction with professional services firm Accenture.

Thales’ HSM is a hardware solution for securely storing private keys – the all-important strings of data that, for example, protect a user's bitcoin or other blockchain-tied tokens. As these pieces of information are critical in the context of digital asset management, the hardware offering has been positioned as one that would alleviate security concerns among enterprises and other organizations.

Jon Geater, CTO for Thales' cybersecurity arm, said in a statement:

"Blockchain is a game-changer in the financial services industry, with the potential to enhance security, speed and operational efficiency. Our integration with Chain provides a strong root of trust and ensures the integrity of the underlying blockchain operations that enables organizations to build, deploy, and operate blockchain-based transaction networks with confidence."

Regulators are also likely to cheer the advance of security measures in the blockchain space. In February, the European Securities and Markets Authority proclaimed that distributed ledger technology regulations would be premature, given the state of the tech and a lack of market-wide cybersecurity standards.

Chuck Reynolds
Contributor

 

Alan Zibluk – Markethive Founding Member

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Basic Rules for Beginners in bitcoin Trading

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Basic Rules for Beginners in Bitcoin Trading

basic rules for trading

 

There has been a protracted debate on the actual identity of Bitcoin, whether it should be regarded as a currency or a commodity.

With reasonable support on each side of the debate based on its inherent characteristics, a huge segment of the ecosystem is of the opinion that Bitcoin can, and should be regarded as both a currency and a commodity.

Whatever definition attached to Bitcoin, the constant variation in price offers an opportunity for investors to make a profit by trading the cryptocurrency, either as a long term investment or in a speculative short term pattern.

What is Bitcoin trading?

Bashir Aminu, Bitcoin trader and convener of online crypto group Cryptogene, explains the basic Bitcoin trading process as follows:

“If you buy Bitcoins at one price and then sell them for a higher price, you make a profit of the difference between those two prices, less any commission that you paid. However, if the price goes down, you will be in the uncomfortable position of having to either sell them at a loss or hold and hope the price goes back up while risking higher and higher losses if the price continues to drop.”

There are two major types of traders in the Bitcoin market, they are ‘long term’ traders and ‘short term’ traders. Each of these group of traders are classified by how long they may wish to hold onto a given position of trade.

Long term traders are usually involved in studying price trends over long periods of time. This informs their decision to buy and hold Bitcoin also over long periods with the hope of taking profit at a price higher than their original entry point. With Bitcoin still in its developmental stages, a lot of users suggest that this is a good time to buy.

This suggestion is based on the assumption that with increasing use case scenario and more adoption, demand for Bitcoin and its associated technology will increase, thereby creating more demand for the cryptocurrency which will automatically cause an eventual increase in value. Glimpses of this have been observed with the surge in Bitcoin price which coincides with a boost in its market capitalization and volume of trade.

On the other hand, short-term traders analyze the intraday behavior of Bitcoin price and seek to take advantage of the swings in price. These traders thrive in market volatility, a factor that is presently characteristic of Bitcoin.

In its early stages, the swings in Bitcoin price was usually so huge as every little event within the crypto space had very serious impact on the price of the cryptocurrency. As adoption grows and Bitcoin becomes more stable, price volatility has reduced considerably and experts think it is a better time to trade the cryptocurrency, compared to an earlier time.

“Bitcoin is certainly safer to invest in now than it was a couple of years ago”, says Aminu.

 

Trading rules

Aminu describes Bitcoin trading as extremely profitable if you play your cards well. According to him, it all depends on the market movement pattern. He tells Cointelegraph that Bitcoin value rises and falls dramatically throughout each trading day, jumping in whole dollar amounts. A phenomenon which he identifies as very risky when misjudged.

Based on his trading experience, Aminu outlines a set of rules for newcomers who may wish to profit from the Bitcoin market as follows:

Never put all your eggs in one basket. Your capital should be broken into smaller lots for multiple positions at different price levels.

Do not invest your life savings or money that may change your life drastically in the event of a loss. This rule is important mainly due to the existing level of uncertainty that still exists within the Bitcoin market.

Take full advantage of available technology in order to gain maximum profit

Understanding the market is a continuous process and requires a lot of time, concentration and effort. It is very crucial to do research and be up to date with current trends.

Know when to cash in. It is important to stay focused, unemotional and professional.

Traders should keep in mind that losing, just as much as winning, is an integral part of trading. It is the cumulative gains that count.

If this sounds to complicated there is a proven way of automated trading in the top 10 Cryptocurrencies by joining Trade Coin Club who do the hard work for you allowing you to share in the profit at three levels of risk. This frees you from having to follow the markets, minute by minute or hour by hour.

David Ogden
Entrepreneur

 

By Iyke Aru

Alan Zibluk – Markethive Founding Member

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