Binance through its charity arm, Binance Charity has committed to donate millions of dollars to help fight the global pandemic ravaging nations of the world and undermining their economic growth.
The virus which was first noticed in Wuhan, China has spread across the world resulting in the death of thousands of persons with hundreds of thousands already confirmed to be infected.
Binance Charity has announced it will commence a global campaign tagged “Crypto Against COVID” to address the health concern worldwide. Through this campaign, it is looking to raise $5 million dollars in cryptocurrencies to support the cause.
The initiative will see Binance making an upfront donation of $1 million BUSD and set up a set of wallet for public donation. The Charity arm said it will convert funds received in the Binance Stablecoin BUSD to fiat and purchase supplies from vetted suppliers and ship same to targeted hospitals in affected countries.
CZ (Changpeng Zhao), founder and CEO of Binance. was quoted saying “……..We encourage the community to take part in this initiative as we unite against COVID-19, and together, we’ll drive impact”.
Binance also announced on Twitter that it will donate $1 for every retweet to donation post. And if a million retweets target is reached within 7 days, it will donate an extra $1 million. It also said it will continue with a second phase of the donations of upto $2 million.
It also calls for and encourages the public to donate to support the cause. This was also echoed by the Binance Business Manager (Nigeria) Emmanuel Babalola who said “To win this fight against COVID-19, everyone must come together to help”
Speaking on the Campaign, Helen Hai, Head of Binance Charity said “The most important element of human life is to show compassion and help others as we can, without the limitation or restriction of borders. Blockchain technology enables this in greater capacities than ever before and Binance Charity wishes to bring this to the masses.”
Earlier on before the virus became a global concern, the Blockchain ecosystem giant had launched a “Binance for Wuhan” campaign where it committed upto $1.4 million worth of medical supplies to support the battle against the virus in the Peoples Republic of China.
Facebook’s Calibra Rebrands to Novi, to be Interoperable With Messenger & Whatsapp Enabling Instant Payments
According to an announcement, the Calibra which was announced to be use for the Libra project by Facebook has been rebranded to Novi. The rebrand comes as a need to move forward.
It comes with a redesign that according to the firm is said to represent the “the fluid movement of digital currency”.
The name Novi has its root in the Latin word novus which means “new”. According to Novi, the change from Calibra to Novi doesn’t in any way affect the core vision of the project. Its quoted saying “While we’ve changed our name from Calibra,..…we haven’t changed our long-term commitment to helping people around the world access affordable financial services”.
Novi will work as a standalone application and will be interoperable with Facebook’s social messaging apps Messenger and Whatsapp.
According to Novi, the app will allow people to send money as “as easy as sending a message”, such that transactions will arrive instantly and will not contain hidden charges.
The app will require users to undergo KYC which is aimed at combating fraudulent activities.
The wallet customers will be asked to verify their accounts using government issued IDs.
While the released date is yet to be known, Novi will release an early version of the App when the Libra network has gone live though the wallet will be released to a limited number of countries.
The Facebook ambitious move into the world of cryptocurrency has been met with various opposing moves from nations all over the world since it released the Libra whitepaper in June, 2019.
The move which was applauded by some industry personalities saw great resistance from nation’s states that saw the facebook’s move as a threat to their financial sovereignty.
Resistance from the both local regulators and foreign nations resulted in the departure of the project from by some of the earliest members of the Libra Association- an organization made up of corporations that will oversee the project.
These challenges notwithstanding, the project has decided to move on, however with a pruned product and with other members signed up already to the Libra project.
It is believe with Libra hiring ex-US government officials, it will help smoothen its path as it hopes to launch one of the most ambitious cryptocurrency project.
Pornhub Sees Increased Traffic as Citizens Globally are Urged to Stay at Home
The No. 1 pornographic content website on the internet Pornhub has been seeing increasing growth in daily hits over the month since the declaration of the coronavirus a pandemic.
The declaration of coronavirus (COVID-19) came after considering the rate and ease the virus spreads across the nations of the world.
Owing to the ease of spread, governments of nations all over the world had had to and are warning their citizens to stay at home and help limit the spread of the virus, to self isolate themselves when noticeable signs of the virus start manifesting and call government help lines.
As various firms all over the world provides relief in one form or the other, Porn hub on the granted Italians free access to its premium contents. This was done in the second week of March, 2020. However, just almost a week ago, it announced it has extended the free access to its users all over the world. Users are entitled to a one week free access to the premium contents on the pornographic content website.
This according to Pornhub, was to encourage people globally to stay at home and help reduce the spread of the virus. Since March began the website has seen traffic rise from 1.8% to 11.6%.
This present a significant jump in the number of daily users using the platform as the world has been asked to stay at home. In the month of February, the daily traffic was at a low of 0.1%
Data from Pornhub also showed a total number of searches of “corona virus” on the website. This in the last thirty days exceeded 9 million searches.
As the number one website for pornographic contents on the website, the journey hasn’t always been green for Pornhub. In 2019, Paypal which was a major payment processor on the platform allowing models to receive payments abruptly discontinued serving Pornhub. This put its models in an unusual tight position.
Though Pornhub has partnered with privacy centric coin XVG Verge, many models were not familiar with the use of cryptocurrency. Despite this, Pornhub weathered the storm and continued to forge ahead and also added other payment method such as the TRON based USDT.
As nations of the world combat the virus, citizens are ever more encouraged to stay at home and this Pornhub may continue to see upward surge in its daily traffic.
New Samsung S20 to Support Cryptocurrency like the S10 Smartphone
The Samsung’s new galaxy S20 is the new generation device that was unveiled by Samsung at their event. The device would have 5G technology, crazy cameras- “one that will change photography” according to samsung and it will have crypto storage.
It will have a special feature which is a secure processor that put in place for the protection of personal information such as the private key, pattern, and passwords among others. This was announced at Samsung’s unpacked event on 11th February.
However, the degree at which Samsung advertised and publicized cryptocurrency support in their last range of devices like the S10s was not the same with the galaxy S20.
They only made mention of the secure processor. They didn’t give information as regards the coin that would be supported by the device, new coins and apps that would access the crypto support.
The previous devices (S10) contained a security system like an enclave kept in the phone’s security knox for keeping private keys. The Samsung’s blockchain keystore app is connected to it.
It enables people see their balances in crypto and even to send money from one end to another. So, there is probability that samsung might continue with this system.
Having the control of your digital assets from your mobile device and being able to send from one end to another without itch would increase adoption. Again, Samsung is a recognised and popular brand.
Enabling crypto support on their devices will surely increase the adoption of cryptocurrencies because they advertised to a wide range of end users who might be hearing about it for the first time and adopt crypto on the long run.
Justin Sun & Tron Foundation Sued owing to Bad Working Condition, Discrimination & Assault
The founder of Tron Justin Sun and the Tron foundation has been sued by former employees for workplace aggression.
The lawsuit which was filed by last year in a 70 page document in the state of California by Richard Hall and Lukasz Juraszek revealed they have been victims of aggressive and hostile working environment.
The ex-employees are suing for $15 million in damages and government actions against claims of labour violations on the grounds of wrongful termination, discrimination, emotional distress and hostile work environment.
In the lawsuit, the plaintiff expressed undue pressure to deliver by fast-tracking the BitTorrent Software releases.
Lukasz Juraszek also claimed CEO of Tron, Justin Sun physically assaulted the Head of engineering however, there was apology issued for the assault.
Same Head of Engineering was also seen according to Lukasz Juraszek to have also hit a manager whom the former is known to always launch attacks at.
The 70-page document also showed some ethical issues with the management of the organization, specifically on the issue of copyright infringement.
Based on the report of the Court document, Richard Hall said he flagged some risk of third parties hosting copyright-infringement and child pornographic contents but CEO of Tron, gave little to no ears about the issue.
Lukasz Juraszek also claimed the manager physically assaulted by the Head of engineering, Cong Li told him that Cong Li appears to “hold him to impossibly high engineering standards”.
Not long after, he was kicked out of the company for reporting observation to human resources. According to the lawsuit, Lukasz Juraszek said after he was kicked out, an unknown user accessed his work computer from another location and his emails disappeared.
Richard Hall on the other hand, claimed Cong Li threatened him to deter him from recording their conversation, according to the lawsuit, the following words were used “if you go tighter with me, I will go tighter with you”, he also said “things will end badly for you”, “I cannot protect you” according to the lawsuit.
The plaintiffs also claimed Chinese nationals came from Mainland to replace both of them and other local nationals.
And these Chinese workers also behaved less responsible towards local laws and this gave Justin Sun upper hand in enforcing unfavourable work timetable.
Justin Sun has been involved in several controversy over the life of his company starting from the plagiarism of the Tron Blockchain white paper and codes, to his involvement in pump and dump schemes as well as the postponement of his lunch with Warren Buffet.
The former employees are suing for $15 million.
Regulation1 week ago
The Nigerian SEC has issued a statement on Inksnation, calls it illegal.
FEATURED4 days ago
Washington, DC Lawyers Can now accept Payments in Cryptocurrency
Adoption News1 week ago
PayPal & Crypto; an odd combination says Decred Co-founder
FEATURED4 days ago
Washington DC Lawyers Can Now accept Payments in cryptocurrency
FEATURED20 hours ago
How COVID-19 Pushed the United States Senate to Consider Digital Currencies