DOVU Works with KPMG to Set New Benchmark for Token Sales

DOVU, the blockchain-powered market for transport data, has taken steps to ensure its token sale will be conducted to the highest standards – including crime risk management measures – collaborating with global accountancy firm KPMG on its company and financial structure.

Monday’s announcement that Chinese authorities are banning fundraising through blockchain crowd sales for Chinese operators for so-called Initial Coin Offerings (ICOs) sent shockwaves through the crypto markets. Since the beginning of 2017, well over $1 billion, mainly in bitcoin and ether, has flowed into such token sales. Blockchain has established itself as a powerful tool for crowdfunding new tech platforms, but still the growing token sale industry also has brought with it the risk of scams, hacks, pump-and-dump schemes, and a general lack of corporate governance and accountability.

DOVU: raising standards

Now DOVU, which is backed by Jaguar Land Rover’s innovation arm InMotion Ventures, is establishing a new benchmark. DOVU aims to provide the mobility industry with large and high-quality data sets, sourced from a wide range of stakeholders including grassroots users. Businesses will pay for access to this data using Ethereum-based DOV tokens, which are offered through a crowdsale on 3 October.

The DOVU team has spent the last 12 months ensuring that they are structured correctly for a properly managed token integration, working with blockchain legal experts Ramparts to create a distinct corporate entity.

“We are pleased to welcome KPMG, one of the top 4 global accountancy firms, as our advisors, working with us on our company and financial structure.”

– Irfon Watkins, Founder and CEO of DOVU

DOVU’s most recent adviser is Andrew Hodgson, Senior Partner at KPMG Corporate Finance. Hodgson joins a highly professional team of the transport industry and blockchain experts. The project’s token sale includes wallet risk profiling and high-value customer due diligence processes (using a risk-based approach) to better deal with the risk of crime. With the industry under scrutiny, many will find DOVU’s token sale precautions reassuring.

Chinese ban

The news that China’s regulators will prevent Chinese entrepreneurs from raising funds via token sales is likely to bring further focus on this sector in other jurisdictions. Whilst there is some speculation that this is strongly related to concerns about capital flight by Chinese residents, whatever the reasons for the new prohibition in China, it highlights the need for organisations in this sector to carefully structure their sales, consider the risks of crime and the potential applicability of crowdfunding and securities law restrictions.

DOVU’s public token sale is scheduled for 3 October 2017.

The presale launched on 4 September.

For more information or to participate in the crowdsale, visit www.dovu.io/presale.

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EROSCOIN, a new generation cryptocurrency platform being developed for large-scale disruption in payment systems, has recently announced its ICO, starting from October 11, 2017. The crowdsale will go on until November 20, 2017, allowing participants to purchase the native ERO token.

EROSCOIN is the result of a year-long team effort and the soon to begin ICO campaign is expected to accelerate things. By incorporating blockchain technology, the company aims to be a leading payment processor for free transfer of value online.

The Features of EROSCOIN Platform

EROSCOIN aims to provide a faster payment processing solution to the online sector, meeting the demands of the ever-expanding e-commerce industry. By creating a cryptocurrency solution, the platform will be offering a convenient, fast, and secure payment platform capable of supporting over 500 different cryptocurrencies.

With EROSCOIN, merchants can easily integrate its blockchain-enabled cryptocurrency payment gateway on their websites. It provides an interface similar to those offered by traditional payment solution providers to ensure ease of use while reducing the learning curve. Upon integration, EROSCOIN payment solution will enable transaction confirmations in as less as 15-20 seconds with the help of self-executing smart contracts.

EROSCOIN’s smart contracts will be able to facilitate, negotiate, verify and close the contracts between parties. Its self-enforcing features enhance automation and ensure full transparency throughout the payment settlement channel. EROSCOIN smart contracts are openly available for audit on GitHub.

Apart from a payment gateway, EROSCOIN also offers solutions like P2P chat, order and product management, invoice management, etc.

EROSCOIN ICO

The EROSCOIN network is built around its native ERO tokens. In the ICO, the company has set the maximum cap for ERO tokens at 240 million. Of all the tokens, 50% will be assigned to the ICO participants, 20% to the EROSCOIN foundation, 9% to Escrow and Advisory, 10% to the Charity Fund and the 10% will be assigned to Reserve Fund. The remaining one percent of the funds will be used to fund the bounty program.

Those taking part in the crowdsale can purchase the tokens with Bitcoin. The funds raised during the ICO will be used to promote further development and marketing and community building activities. EROSCOIN offers a 45% bonus to those participating in the Pre-ICO. As the crowdsale enters the second phase, the bonus will reduce to 25 percent.

EROSCOIN will be launched during the later part of 2017, followed by the launch of the EROSCOIN web-wallet, ERO payment gateway sandbox and an alpha version of EROs mobile wallet. By 2018, the company will be finalizing all the EROSCOIN’s all core features.

To know more about EROSCOIN and be updated about the new developments and the upcoming ICO, please visit https:// eroscoin.org

 

Bitcoin users all over the world are familiar with the GreenAddress service. It was one of the first wallets to introduce some advanced features we are accustomed to today. In the recent update, the platform now fully supporters SegWit. This is a big development, as not all Bitcoin wallets have implemented the upgrade yet. There are some other new features to enjoy as well. Plus, the team has grown slightly bigger thanks to two new developers being hired.

It is good to see a reputable name such as GreenAddress fully support SegWit moving forward. Ever since the scaling solution activated on the network, companies have been working on native support. So far, there are still some service providers with some work to do in this regard. Luckily, GreenAddress is no longer one of them, as they have fully integrated SegWit support a few days ago. This may help push up the number of SegWit transaction on the Bitcoin network in the future.

Some Interesting Changes by GreenAddress

It has to be said, the implementation of SegWit has been in the pipelines for some time. GreenAddress was on board when the scaling solution launched on the testnet. This gave the team ample time to come up with a plan of attack to integrate these changes. Users who log into their wallet will have an option to opt-out of SegWit. It is unclear if anyone will use this feature, but it’s nice to have regardless. Once a SegWit-capable address is generated, users cannot go back on their decision, though.

That is not the only major update from GreenAddress, mind you. The developer team welcomes two new coders, which will have some interesting results. The company is going through a long list of updates and enhancements they aim to introduce. Having more helping hand son board allow the company to introduce those changes a lot quicker. It also shows developers are more than willing to work in the world of Bitcoin. It is a booming industry, which can’t be overlooked anymore, after all.

Last but not least, GreenAddress introduces an API to sign Bitcoin Cash transactions. This gives users the option to split their coins manually. Do keep in mind the company does not provide any splitting tools during the API call. Nor will they introduce a splitting tool now or in the future. There is also no plan to support Bitcoin Cash in any official capacity. This is a bit of a setback for BCH supporters, but it’s not entirely unexpected either.

Header image courtesy of Shutterstock

In this morning’s bitcoin price watch analysis piece, we covered the overnight dip and subsequent consolidation, suggesting that a breakout of said consolidation could signal a major long-term reversal and a return to the upside momentum that has seen bitcoin run to its recent highs over the last few months.

As it turned out, we did see the breakout and we did see the run. Price action today has brought bitcoin to trade back just shy of $4600 a piece and it looks as though the temporary blip in appreciation is now all but over.

We have had quite a bit of luck jumping in and out of the markets on both the initial decline and the subsequent correction and we are going to enter the fray tonight in the hope that this look can continue throughout the late European session and the mid to late US sessions going forward.

So, with that said, let’s get some levels in place with which we can try and draw a profit from the markets this evening. As ever, take a quick look at the chart below before we get started so as to get an idea of what is on and where things stand for the session. It is a one-minute candlestick chart and it has our range overlaid in red.

As the chart shows, the range we are looking at for the session this evening comes in as defined by support to the downside at 4563 and resistance to the upside at 4584. We are just going to be pretty conservative this evening, with a breakout approach dominating our strategy. So, if we see a close above resistance, we will enter long towards an immediate upside target of 4610. Conversely, a close below support towards a downside target of 4510 will work well as a downside position and subsequent target.

Charts courtesy of Trading View

India is one of the more innovative regions in the world when it comes to digital finance. Various mobile payment applications are competing with one another. Cryptocurrency has also cemented its own legacy in the country as we speak. Ripple is the latest company to try and stake their claim in the country. A new Mumbai office has been opened, which will bring Ripple’s technology to India for the foreseeable future. This is another major step in the global expansion plans of this blockchain company.

Many fintech companies look at India as the next frontier waiting to be conquered. It is certainly true the region makes a lot of waves in the financial sector as of late. It is also a region which can greatly benefit from global payment services. Remittances and money transfers play an integral role in India’s economy for quite some time now. Providing a frictionless solution is what Ripple aims to do moving forward. Their new Mumbai office has been officially opened. The company also appoints Navin Gupta as country manager for Ripple India.

Ripple Wants a Foothold in India

India’s government recently unveiled a bold plan to transform the economy into a digital-first society. That is a rather ambitious goal, even in this particular region. Despite a strong focus on digitization these past few years, the digital economy is only now gaining serious momentum. Experts predict the region’s digital economy will reach $1tn by 2022, though. Being part of this mindset is of the utmost importance for companies such as Ripple. Moreover, there is a growing need for unified platforms to bring banks and payment providers into the Digital Age.

CEO Brad Garlinghouse explains this decision as follows:

“India is transforming itself into a digital economy and is an innovative leader in payments. Our new office in Mumbai, led by Navin, will allow us to respond to the rapidly-growing demand for frictionless payments by our current customers, Axis Bank and YES Bank, as well as other bank and non-banks across the country. Navin brings to the role a wealth of global banking and payments expertise that we are confident will drive demand for Ripple payments solutions into India. We are very excited to welcome him to the team.”

It will be interesting to see how Ripple can make an impact in India over the next few years. The company has earned a lot of respect from financial service providers across Asia. Their Ripple Consensus ledger can become a catalyst for India’s digital economy as well. Cross-border transactions need to be sped up, that much no one will deny. Ripple is a cost-effective blockchain-powered solution which provides benefits for all parties involved in the transaction. Right now, the company wants to establish a foothold in this region. It also appears they have “significant investment” to do so.

The relationship between Russia and cryptocurrency continues to evolve in different manners. It appears there is now a proposal on the table to ban Bitcoin mining in residential areas. Assuming there is any truth to this concept, things aren’t looking great for cryptocurrency miners in the country. Any apartment or flat housing a Bitcoin mining operation would be in violation of this new law. Due to the mounting electricity consumption and rising temperatures, a physical hazard is created by miners. A bit of a strange reasoning, although it also makes sense.

To put this into perspective, most at-home miners use graphics cards to mine cryptocurrency. Some enthusiasts even have one or two ASIC miners at their place to mine Bitcoin. All of this equipment requires a lot of electricity to run at optimal performance. These mounting costs are a concern for the Russian government. Additionally, officials are concerned about the hazards associated with mining. Increasing temperatures of this hardware can cause a significant risk to flat residents. It only takes one spark to trigger a fire, after all.

Another Debatable Cryptocurrency Proposal In Russia

On the one hand, it’s good to see Russian authorities acknowledge at-home mining can be a fire hazard. Many people underestimate this fact until it is too late. Then again, this situation isn’t native to Russia whatsoever. Most people’s mining rigs are protected from causing too much damage due to aluminum frames and proper spacing of equipment. If a mining operation draws too much power from the building’s net, however, a problem can occur. Malfunctioning computer hardware can be a problem, to say the least. Plus, the heat generated by these miners is also hazardous in its own way, according to a government spokesperson.

On the other hand, the comments regarding electricity can be twofold. We have seen Venezuelan regulators shut down domestic cryptocurrency mining operations due to the electricity consumption. In the Latin American country, electricity is state-sponsored. That is not entirely the case in Russia, although regulators are keeping a close eye on the overall consumption. Then again, one could also argue anyone in the world can “generate’ cryptocurrencies through mining. In a restricted country such as Russia, that is still frowned upon by many government officials.  

For the time being, it important to keep in mind this new proposal is not an official law yet. There is opposition from other officials who think cryptocurrency mining needs to be encouraged. Some regions in Russia have cheaper electricity rates, which is where most mining operations are set up. Whether or not this residential area-based mining will continue for much longer, remains to be seen. For now, there is nothing preventing people from mining Bitcoin or altcoins with video cards at home.

The rate at which technology has developed in the past half a century is astonishing. Innovation and advancement have changed the way that the world operates in more ways than one. Just about every sector you can imagine has been transformed by technological advancements in recent years, from the healthcare facilities to retail stores. While businesses are certainly feeling the effects of technological advancements, individuals around the world will have also noticed that the way their everyday activities are influenced by rapid advancement in technology.

Improved Communication

There’s no doubt that technology is bringing us closer together. New methods of communication have been developed since the invention of the internet, including social networks, emails, voicemails and video conferences. These methods of communication have made it quicker and easier for people to communicate around the world in real-time. This has reduced problems with operating businesses around the world as well as has improved cultural education around the world. However, not everyone is in favour of our ultra-connected society. Some have argued that social media is actually making young people less likely to engage in social activities and has been linked to the mental health issues, such as anxiety and depression, which are becoming increasingly common among young people around the world. Health experts are also concerned that frequent use of smartphones and tablets is causing people to lead inactive lifestyles, which in turn can lead to a number of long term health problems.

Changing Workforces

Artificial Intelligence technology, also referred to as AI, is rapidly developing. One of the latest developments within AI technology is self-driving cars, which are vehicles that would be able to drive themselves without any influence from humans. This is made possible through algorithms which teach the cars to navigate the road and respond to situations and it will be tested on computer games soon. Other uses for AI technology include within the workplace. It’s been established that AI technology can learn how to perform tasks which are repetitive and take place in a structured environment, such as on a factory production line. For this reason, AI technology could change the workplace as we currently know it. Factories which operate using AI technology are being developed around the world, within them the machinery is able to operate a production line, communicate with other computers in the environment and transport products around the factory. All of the world’s major economic powers, including China, the USA and Russia are investing in AI technology as it is said to be the future. For some, this advancement in technology will have an unwelcome impact on their everyday life. Many fear that their jobs are at risk, however there are many obstacles in the way of mass adoption of AI technology, such as high costs and limitations of technology when it comes to responding to unique situations.

Going Cashless

Over the past few years, most people will have noticed the difference in the way they pay for items. In the past, people relied upon cash for everything but more recently cash has become almost obsolete. The introduction of contactless payments across retail, hospitality and service industries has made it quicker and easier for people to make payments while they are out and about. Most large cities operate entirely cashless public transport systems. One of the latest developments in financial technology is the creation of cryptocurrencies. These digital currencies are created and used online, without any control from authorities or governments. Bitcoin, which is arguably the most widely used and most valuable cryptocurrency currently available, is said to be at the forefront of major changes in the way make payments. The cryptocurrency has even been linked to the Fourth Industrial Revolution which is said to be centred around the development of technology such as the Internet of Things (IoT), robotics, AI and Virtual Reality. As recent Bitcoin trends suggest, in the future it’s highly likely that we will see cash becoming less and less common, although it’s not yet certain whether or not cryptocurrencies will continue to grow in popularity.

Without technology, life would be considerably more difficult in comparison to now. Our everyday lives have improved significantly from becoming more connected with each other, in terms of personal relationships, business operations and education. It’s likely that technological advancements will continue to change our lives, particularly if AI technology takes off around the world. The technology has the potential to completely revolutionise the workplace and how we travel. These are just some of the ways that technology is changing our day-to-day lives, in the future it’s not known which new developments will emerge but following all the latest technology news online is one way to keep one step ahead.

Image Source: MaxPixel (CC0) | Petr Kratochvil (CC0)

Markets were a little jittery during the start of the week as the bitcoin price fell foul to a couple of negative fundamental developments (negative, that is, from a sentiment perspective) out of Asia over the weekend. As we said on numerous occasions, however, everyone is looking for an opportunity to buy the dip right now in the bitcoin price space and when we see a correction like the one we just got, we don’t expect it to last too long for that very reason.

Action during the session yesterday traded the bitcoin price down to a little over the 4,200 mark and we opined in our coverage yesterday evening that that might as far as things go from a downside angle.

As it turns out, we were pretty much on the money.

Price settled into a short consolidation phase early morning and we got the breakout we were looking for slightly ahead of the open out of Europe. As we move into the session today, it’s looking like we are in for a green day in the bitcoin price – something that many of the long term holders reading will be happy about.

So, let’s get some levels in place that we can carry into the session. As ever, take a quick look at the chart below before we get started to get an idea of where things stand. It’s a one-minute candlestick chart and it’s got our range overlaid in red.

As the chart shows, the range we have in our sights for the session today comes in as defined by support to the downside at 4465 and resistance to the upside at 4529. If we see price close above resistance, we’ll jump in long towards a target of 4560. Conversely, a close below support will have us in short towards 4440.

Let’s see how things play out.

Charts courtesy of Trading View

Hello and welcome to News BTC’s Market Outlook September 6.

DASH/USD

DASH gained a bit of value during the day on Monday, but we are still very much beaten-down from the selloff. I would be cautious about buying this market until we break above the $350 level, which would show a significant change in attitude. I suspect that we may consolidate for a while, so there’s no need to jump in right away.

LTC/USD

Litecoin rallied a bit as well, testing the $74 level, but failing as I write this. If we managed to break above the $75 level, I would be willing to put a small position back into the marketplace, but I suspect the crypto currencies overall are going to consolidate after the massive selloff over the weekend.

Thanks for watching, I’ll see you again tomorrow.

Hello and welcome to News BTC’s Market Outlook September 6.

ETH/USD

Ethereum rallied on Tuesday, recapturing some of the losses from the weekend. However, there seems to be a bit of resistance near the $310 level, so I would wait until we break above the $320 level to try to pick up a long position. Other crypto currencies look as if they could consolidate in current levels, and that makes sense, considering it had been such a brutal selloff. With this in mind, patience will be needed.

ETH/BTC

Ethereum rose slightly during the day on Tuesday against Bitcoin, and if we can break above the 0.075 level, the market could go higher. Until then, I would be a bit hesitant to start buying Ethereum against Bitcoin, as Bitcoin is most certainly the favored currency in normal conditions.

Thanks for watching, I’ll see you again tomorrow.