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Alibaba Loses Battle Over brand Name

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E-commerce giant Alibaba is in a shuffle with a Dubai-based cryptocurrency foundation which adopted the name Alibabacoin. The Chinese giant Alibaba Group Holdings Ltd’s placed a bid for a preliminary injunction to block the Dubai based cryptocurrency firm Alibabacoin Foundation from using the Alibaba name and a U.S. District Court has ruled in favor of Alibabacoin.

U.S. District Judge J. Paul Oetken says Alibaba Group did not show any jurisdiction in the U.S. and China’s ban on initial coin offerings eliminates any potential confusion. The court document shows that Alibaba Group Holding is a Cayman Islands company with its principal place of business in Hangzhou, China. Alibaba Foundation is a Dubai-based commercial organization with offices in Dubai and Minsk, Belarus. It is also known as the Alibabacoin Foundation and Abbc Foundation.

The judge explained why Alibaba Holdings had a case of “No jurisdiction” in the complaint complaint filed with the U.S District Court of Southern District of New York on April 2. The judge says, “China’s ban on initial coin offerings in September eliminated a key source of potential confusion among consumers about its lack of ties to Alibaba.” This means that Alibaba Holdings had no case as it’s brand name could not be tied to the crypto currency because of its country’s ban.


The defendant, Alibabacoin was  accused of using an “unlawful scheme to misappropriate” Alibaba’s brand name “in order to deceive investors in the U.S. and around the world.”  The Chinese company also accused the defendants of using the Alibaba trademark to raise over $3.5 million from investors through initial coin offerings (ICOs) of Alibabacoins or Abbc Coins which “are neither registered nor approved by U.S. Regulators.”

On the other hand, the Alibabacoin Foundation argued that it was not trying to make money off the Alibaba name. Judge Oetken then dissolved a temporary restraining order against the foundation issued on April 2 by another judge.


What do you think about Alibabacoin using another brands name for its cryptocurrency. Let us know in the comments section below.
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Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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Crypto Now Accepted By Largest Swiss Online Retailer Digitec Galaxus

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crypto now accepted by largest swiss online retailer digitec galaxus

Digitec Galaxus – a leading Swiss online retailer has announced that it will now accept cryptocurrencies in accordance with a press release published on March 19.

According to the announcement, the online retailer is now accepting bitcoin (BTC) Bitcoin SV (BSV), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Tron (TRX), NEO(NEO), Litecoin (LTC), and OmiseGO(OMG) on purchases over CHF 200 (about $200). the press release also claims that the online retailer host close to 2.7 million products ranging from wheat beers to shoehorns.

This new payment method was reported to have been jointly developed as part of a pilot project with swiss payment processor Datatrans in conjunction with Danish crypto payments startup Coinify.

Going further the managing director of Datatrans, Hanspeter Maurer said:

“We are keen to find out how Digitec and Galaxus customers take up this offer”

As part of the move towards crypto, if the customers of the online retailer choose the new method of payment – cryptocurrency, the checkout process redirects them to Coinify page where they would be asked to choose means of payment from a list of options. After which customers then receive a conversion rate that applies for 15 minutes as well as payment details QR Code format and text. the customer then activates the transaction with a crypto wallet.

There are no fee charges by Digitec Galaxus for any payment made with cryptocurrencies but a 1.5% fee is charged by Coinify of the purchase through the conversion rate.

Lastly, a blog post was also released by the company explaining its internal engineering team behind the crypto integration.

Picture Credit: Bitcoinist

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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SaBi Exchange to Recommence IOST Trading

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After the IOST, main-net is launched, sabi team will no longer support the deposit and withdrawal of old IOST coins and you can only deposit and withdraw the new coins.

Dear Users,
The IOST Mainnet switch has been accomplished , SaBi Team will recommence the withdrawals of IOST on 14th March 2019.
After the IOST, Mainnet is launched, SaBi will no longer support the deposit and withdrawal of old IOST coins and you can only deposit and withdraw the new coins.

Please make sure that you use the deposit and withdrawal address of the IOST main-net for transactions.

SaBi Team updates her customers

IOST Community Update

We have so much planned for the run-up to Mainnet launch, and Testnet v2.0 will be a vital step in that plan. Developers and projects can now prepare for DApp launches on this final Testnet version, which will then migrate onto Mainnet in February.

This was a statement made by IOST team on their Medium handle regarding the then intedned Testnet and Mainnet Launch which ha been successfully implemented.

Adding more in the Press Release, the team mentioned that last year, they released their first Developer Bounty programs, which coincides with the run-up to Mainnet to make sure they bring in as many developers as possible who are interested in working with and contributing to the IOST ecosystem.

Additionally, IOST released a series of articles which gives a complete overview of the IOST network, protocol and ecosystem. The first in this series were details about IOST’s consensus mechanism and decentralized committee election process .

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PO8 Tokenizes Underwater Artifacts in Bahamas – Says Africa can be next

With the assistance of the blockchain, P08 aims to utilise new maritime technologies, artificial intelligence and robotics to recovering lost cultural heritages

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PO8 Tokenizes Underwater artifact - says Africa may be next

The treasures hidden under the sea will likely remain undiscovered if we all focus on the surface world. However, Bahamas based blockchain company, P08 is changing the underwater narrative as it is creating blockchain solutions to aid in underwater archaeology. The company aims to make marine archaeology accessible through its decentralized applications (DApps).

With the assistance of the blockchain, P08 aims to utilise new maritime technologies, artificial intelligence and robotics to recovering lost cultural heritages that have been shipwrecked in Africa, the Caribbean islands, and other countries. Basically, it’s a decentralised, secure and transparent form of underwater treasure hunting.

PO8 CEO Matthew Arnett and co-founder and COO Raul Vasquez plan to help African nations benefit from the tokenization of newly recovered underwater artifacts. It plans to utilise the blockchain technology and Non-Fungible Tokens (NFTs) to monetize the ownership of $100B dollars worth of sunken artifacts in Bahamian waters.

OWNERSHIP RIGHTS HANDED TO TOKEN HOLDERS

P08 will transfer the ownership rights of any recovered artefact with its economic value into a digital title. However, the recovered items will be kept in the custody of the PO8 Museum Foundation to be preserved and exhibited. It took 18 months for PO8 to assemble its team of marine archaeology and tech, a Dream Team of sort. Included in this team are Dr. David Gallo, TITANIC expedition; Mr. Claudio Bonifacio Shipwreck researcher and author; Troy Launay, member of the Apollo F-1 engines recovery team and Evan Kovacs, a professional underwater photographer.

PO8 aims to be a force to be renown with in the Caribbean Islands, Africa and the world at large. The tech company aims to impact the Bahamas first through the provision of local jobs in marine habitat protection, tech and tourism. Vasquez explained how the company aims to build resources in the African continent saying, “This is the retooling of professionals from downtrend industries to servicing new tech industries launching in Africa…We welcome the opportunity to join arms with local governments to promote sustainability and capacity building through underutilized resources. Entire populations stand to benefit.”

The company also aims to create its first Archeological Treasure and Maritime Museum By restoring artifacts discovered from its shipwreck sites. PO8 recently received the 2018 Creative Business Cup Award at Demand Solutions in Santiago, Chile from the Inter-American Development Bank (IDB).

P08 is currently running its Security Token Offering. For more information on how to get involved or to inquire about its STO, visit https://po8.io/

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Fructus Integrating Bancor Protocol to Provide Continuous Token Liquidity

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Fructus has announced its integration of the Bancor Protocol to provide continuous liquidity for the Fructus platform.

 

By integrating the Bancor Protocol, Fructus token holders will gain access to continuous liquidity regardless of trade volume or exchange listings, through the Bancor Network, where any integrated token can be automatically converted to any other directly from the Bancor Wallet or any Web3 wallet, such as MetaMask

 

The Fructus Token will become instantly convertible with ETH, EOS, BNT (the Bancor Network Token), GNO (Gnosis), BNB (Binance) and more than 130+ ERC20 and EOS-based tokens in the Bancor Network.

 

 

Fructus is aiming to change the business of fresh produce trade and delivery. Starting in the diverse agricultural landscape of Europe, we see an opportunity to scale and change the world

 

 

About Fructus

We believe we can solve global problems regarding fruit and vegetables. Big problems concerning products being GMO’s (Genetically Modified Organism) or 100% organic, expiration date fraud and food waste.

 

 

The way we solve these problems is by making the supply chain for fruit and vegetables transparent.

 

All transactions are processed and registered in the blockchain, giving all parties involved the ability to keep track of products and payments. Customers can see where products are coming from and what was used to help grow the crop. Suppliers can find customers connect without a grocery store in between, keeping products clean and fresh and reducing the food waste.

 

 

Together we can make a difference, so join the Fructus Community and support Fructus.

Visit Fructus to know more about the fruit-safety blockchain project.

 

About Bancor

Bancor is the world’s largest decentralized liquidity network. Bancor functions similar to a decentralized exchange, with a key difference: orders are processed against automated smart contracts on the blockchain, instead of matching two parties in a trade. Any project can easily integrate their token by creating a Relay on the Bancor Network to automate fair and efficient token conversions for users, directly from their wallets. Tokens on Bancor are instantly convertible for one another, with 8000+ trading pairs across ETH, EOS, DAI, BNB & more.

Bancor technologies impact organizations and people across the globe, from blockchain teams to token holders to real-world communities in Africa, Asia and beyond. Visit the Bancor Web  to convert tokens instantly, list your token on the Bancor Network or join the Bancor Telegram group for more information.

 

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