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Exchange Gets Sandbox License

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While the central banks of some countries are being strict with cryptocurrency exchanges, a Dubai-based cryptocurrency exchange has given a regulatory sandbox license to operate as the first crypto exchange in the Middle East and North Africa (MENA) region. The exchange Palmex was granted the license by the Central Bank of Bahrain and will take effect this week.

Palmex will be offering “multiple trading pairs including bitcoin and Dubaicoin DBIX, the first decentralized cryptocurrency in the region,” as well as ETH, LTC, and XRP. Transaction fees will be divided into three tiers based on monthly trading volume.
The licence will be effective by June 15, 2018.  The essence of the licence is to create a safe place for virtual businesses to “trial and refine innovative products, services, platforms and business models in a live but controlled environment…giving regulators time to adapt legislation as needed,” The Dubai International Financial Center (CPI Financial) explained.  They further elaborated, “Companies will also be able to apply to list their tokens and coins with Palmex and benefit from the compliance of the exchange.”

Arabianchain Technology the venture company of the exchange is claimed to be “the first public, decentralized and consensus-driven blockchain in the MENA region.” CEO and founder of Arabianchain, Mohammed Alsehli explains that the company,  “will start with a limited number of select users to test and optimize the process and then expand to the rest.” Mohammed believes that “a significant rise in awareness and adoption [of cryptocurrency] could be expected, driving a huge spike in the number of trades and token-based fundraising across the region while maintaining the safety of the financial system.”

 

What do you think about sandbox license? Share your opinion with us in the comment section below.
Image credit: Pixabay

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Blockchain And AI conference 2019, BMCT Gives Away Token to Participants.

Did you know that Beepmagnet is giving away their BMCT tokens at the Blockchain and AI conference? read through to find out how you can get this giveaway in a few minutes!

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“With the pace at which technology is racing, if as Africans we do not catch up or become interested, then a repeat-colonization will not be far off. The worse that can happen to Africa is Technological Colonization. As Africans, let’s not mistake Hope for Achievement or Social Economic Hype for Reality. I believe we may not be able to solve all of the African challenges, Beepmagnet International Group has therefore resolved to contribute its quota to hoist and fly high the African flag in the technology space by focusing on Consumer Loyalty solution with a laser focus by applying the Blockchain Technology.”

These were the words of the Founder and CEO Beepmagnet International Group. Read more from him as he discusses their new wallet launch.

SiBAN Feedback from the Largest Blockchain Conference in Nigeria

In other news, Technology will drive innovation and digital transformation in Africa but educating the public on various areas to harness its potentials is paramount! We were live at the #LagosBlockchain2019 Conference put together by Blockchain Nigeria User Group It was educative informative and featured a whole lot of locally inspired Blockchain projects- some of which are Kudi Exchange, BMCT.io, Sisibox, Birrion, python signals, Quras.io, xendbit, decred.io and lots more.

Senator Ihenyen who represented the president of SiBAN spoke with us on a what could be taken out of the conference and was sift to point out a few clear messages from the biggest blockchain meetup in Nigeria.

CLEAR MESSAGES FROM THE CONFERENCE

1. Keep building. Keep testing. Keep improving. Keep getting better until you have the best. In the end, it’s the market that will validate you, not your competitors.

2. Do not wait for the government to regulate you. And do not be in a hurry to invite regulation. You may not be prepared for what is coming to hit you because the regulators most likely have no idea beyond the fear that you create in your own industry.

3. Though no regulation, self-regulate so that when the hammer strikes, it is a blacksmith’s hammer on your metallic model and structure because you were already fired up for it.

4. Collaborate. Don’t be an islander. Islanders belong in a centralized space, not a decentralized economy. Embrace the power of p2p by making your solution democratization of values. Think user, not the owner. Users are where the gold lies. Dig for gold.

In his remarks, the Conference was well organized and well attended. While appreciating the members of the organizing team he wished them All the best as they prepare to wrap it up today with the Masterclass.

Great appreciation to SiBAN Chairman who couldn’t make it to the Conference but asked me to represent SiBAN. I am happy to say that SiBAN was well represented, even if I had missed the Conference today. We thank every SiBAN member who came out for the event, especially those SiBANites from outside Lagos!

 

Senator Ihenyen appreciated members of the SiBAN community who were available for the conference. in his words,

Special thanks to Vaultbridge. Your presence and support keep bridging the gaps in the space.
And of course, congrats to the convener Chimezie Chuta for today’s successful outing.

 

 BMCT Gives Away Token to Participants

Sisibox Give Out 0.125 BMCT to 400 Attendees who will join Day 2 of the Lagos blockchain conference taken place at The Civic Center.

This is in preparation for BMCT listing on 2 Exchanges which has commenced and to be among the First pioneers’ transactions recorded on BMCT blockchain.

Requirement.

1. Visit our Booth to receive your 0.125BMCT
2. Register with sisibox
3. Download BMCT wallet on play store ( BMCToken)/apple store (BMCT)
4. join our newsletter group on https://bmct.io

SISibox Team will use 5mins to educate you about the BMCT wallet and its feature: both for users and merchants and its security protection enabled.
In addition, Those who buy a combo pack, gets instant additional 0.125 BMCT, while regular gets 0.0625BMCT instantly in addition to the BMCT loyalty in The sisibox Pack at the Day 2 program.
Note: Do not Copy or screen shoots your passphrase during the BMCT wallet creation, write out the passphrase on hard copy record offline.

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EOS Israel Leader Joins Proof of Location blockchain protocol Platin.io

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Platin, the leading Proof of Location blockchain protocol, announces the addition of EOS Israel Leader, Hernan Arber, to its team.

While both Arber and Platin’s founders are regulars on the Israeli startup scene, with Arber having graduated from Israel’s prestigious Institute of Technology — the Technion’s computer science department, and Platin’s team conducting research in the Technion’s networking and cryptanalysis labs, it was the Global EOS Hackathon in San Francisco that brought the team together.

Hernan became aware of Platin when news of how Platin’s co-founders Allon Mason and Dr. Lionel Wolberger showcased Platin’s technology and presented at the closing ceremony of the 2018 EOS Global Hackathon in San Francisco when Block. One’s investment in Platin via its EOS VC arm was publicly announced.

With Platin on its radar, Arber and Platin started strategizing on ways to further accelerate Platin’s integration into EOS, and a powerful collaboration was born.

Platin representatives at the EOS Global Hackathon in San Francisco

Platin representatives at the EOS Global Hackathon in San Francisco

 

Blockchains are about community and powerful consensus algorithms.

 

Arber has a proven skillset in both domains and a passion for everything EOS. A full stack programmer who has deployed mobile and cloud services, Hernan is also the heart and soul of the thriving community of EOS aficionados in Israel through EOS Israel (also see EOS Israel on Twitter).

 

Hernan is initially focused on shepherding the new Platin EOS token, PTNE, including reviewing Platin’s GEOS geospatial libraries on EOS as well as the Platin-on-EOS architecture to enable more use secure geospatial-based use cases on EOS.

About Platin

Platin is a secure Proof of Location protocol based on activity recorded and exchanged by means of ordinary smartphones or more specialized devices. Platin incentivizes nodes at scale by means of its own blockchain-based cryptocurrency ‘PTN’. The result is a secure location protocol that is ubiquitous, stackable, reliable, and suited for integration with any business based on location such as supply chain, money and location verifications, LBS-enabled commerce, token geofencing, KYC+AML, and more. Platin’s™union of secure location and cryptocurrency at the protocol level is disrupting industries across the world. Platin — Location is Everywhere™.

Join Platin™ on Telegram; Join Platin™ on Twitter.

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Crypto Payments Comes to eBay

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As cryptocurrencies continue its rally, another titan of the global e-commerce industry might be making move to add virtual currencies as it’s rumoured that crypto payments come to eBay.

The Californian registered tech giant which has its competition as Amazon has up to 179 million confirmed users on its platform. With up to that number given the crypto payment option, this will no doubt boost widestream acceptance for other industries and firms who have chosen to play the waiting game to see how other firms who choose to accept this payment option comes along.

The rumour of the possible addition of crypto payments option on eBay comes from leaked ad information of Consensus an annual conference of international repute where eBay is also a major sponsor.

While this is breezing through and might lead to favorable market sentiments, it must also be remembered that eBay is actually not the first mainstream company to jump into the fray as companies who accept cryptocurrencies with bitcoin being the currency of choice for major platforms who have at one point in time decide to support crypto payments options.

Firms like Microsoft, Twitch, and whole other long list have disavowed their support for crypto payments citing extreme volatility and low confirmation as reasons for pulling the plug on their earlier decision of setting up and accepting cryptocurrencies.

While this definitely comes as a welcome development for crypto enthusiasts the world over, the discretion to see this rumour become reality still lies with eBay. It should be remembered back in 2017, during an interview with a top executive of the e-commerce giant that he stated that eBay is seriously considering the option of crypto payments on its platform but in the end, never did.

Will eBay see this through this time around? It will be nice to have it do and possibly encourage other firms to follow suit.

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ConsenSys Restructures as Jimmy Song, the Bitcoin Core Developer Reminds Lubin of his Bet with Him

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ConsenSys Restructures as Jimmy Song, the Bitcoin Core developer reminds Lubin of his bet

ConsenSys the New York based firm founded by Joseph Lubin, Ethereum’s Co-founder once again came up in the news this week as it restructures but that wasn’t all as Jimmy Song a Bitcoin Core developer reminds Joe of his bet he took up with him last year Consensus by Coindesk 2018.

 

For many reasons, ConsenSys comes up in the headlines. This time around it’s in the headlines as it plans to restructure. Being a firm founded by Lubin from his personal stash of cash reserves in the bank, ConsenSys has been facing some serious hard times. A primary reason is the horrific drop in price of Ether in this long bear season for digital assets. Joe Lubin, the founder of ConsenSys has at some point been criticized of poor management skills in the way he runs the organization almost giving everyone free rein purporting his hard stance of decentralized tenets as envisioned by networks such as Ethereum.

 

With recent announcement in restructuring and plans to raise 200 million dollars, it has coalesced ConsenSys Ventures, it’s Tachyon accelerator, and the ConsenSys Labs – into a single investment arm with key executives like Kavita Gupta stepping down from heading ConsenSys Ventures since it has ceased to exist as an independent arm of the firm.

Lubin in a statement said

To continue to scale our investment activities, we need to consolidate systems and operations to improve our efficiency and portfolio management, while providing the best possible experience for founders in every phase of the company building lifecycle

 

It is also making serious plans of raising its total valuation to around a billion dollars as it hints on raising an additional $200 million to aggressively carry out its operations. Unlike before ConsenSys is more proactive and highly profit driven. It even gave off subtle information on how it had closed 21 investment deals, including notable startups like Truffle, ErisX etc. within the first quarter of the year 2019 A proud and somewhat satisfied Lubin said

 

As the market matures and grows, we are redesigning our investment activities to reflect our learnings and established best practices, While ConsenSys is focused on building and providing the tools, products, and platforms to enable the decentralized ecosystem, we are equally interested in supporting and co-creating potential breakthroughs and key capabilities with the leaders of tomorrow through equity investments.

 

Meanwhile, someone seems to be revisiting his diary and thought to remind the renewed Lubin of his bet with him in presence of an international audience such as Consensus 2018. Jimmy Song, the bitcoin core developer who recently released an article few days back; Why Blockchain is Not the Answer clearly taking a swipe and bashing networks like the Ethereum and several other altcoins or anything that goes with the name “blockchain”. He doubles down on his views that any other infrastructure not bitcoin is nothing other than a nothing burger, strictly labeling the blockchain hype as SCAM, Ethereum not excluded. Perhaps his reason for reminding Lubin of his bet with him. The bitcoin maximalist pontificating simply tweeted. Lubin yet to reply.

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