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Huobi to Expand into Canada

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The cryptocurrency space has seen few of its major players in partnership agreements; as well as expansions, as most of which are coming from the Asian region.

Huobi, a cryptocurrency exchange based in Singapore is set to expand its operations into Canada with plans to open a new office in Toronto extending its grip within the North American Region.

Huobi made an announcement yesterday, stating that the peer-to-peer cryptocurrency trading has surged in the country despite harsh reception and treatment from local banks.

“Canada is emerging as a leading blockchain nation, and Toronto is set to become one of the next most active blockchain hubs across North America. Entering the Canadian market will help support Huobi to become the leader in blockchain and cryptocurrency innovation,” said Ross Zhang, general manager of Huobi Canada.

The focus of the expansion is to work with willing regulatory bodies to drive adoption of the technology by building credibility and transparency within the space. Zhang added. “Establishing Huobi’s first Canadian offices in Toronto is a continued effort to help the blockchain industry become more credible so that mass adoption can come sooner.”

Huobi is presently ranked as the world’s third-largest cryptocurrency exchange with its daily volume of approximately $1.7 billion across 208 markets, according to data from CoinMarketCap. Huobi’s expansion should not come as a surprise to most, as the company had planned in previous months to effectively carry out its crypto-to-crypto trading services. In January, in a bid to solidify its strength and offer customers best services, it revealed in January that it will open a branch in San Francisco. Following the opening of its branch in San-Francisco, two months later it registers with the Financial crimes enforcement network (FinCEN) as a money services business (MSB).

Earlier this week, Huobi Labs — the company’s blockchain incubator — announced that it had signed a strategic partnership with Tianya Community to establish a $1 billion blockchain fund in China’s Hainan province. Huobi’s flurry of expansion plans is characteristic of the cryptocurrency exchange industry as a whole, which has raked in significant profits over the past calendar year but is also navigating challenging regulatory waters.

Binance and OKEx, the two largest cryptocurrency exchanges, have each opened an office in blockchain-friendly island nation Malta, while Coinbase is reportedly opening a Chicago office in a bid to build out its institutional trading products. Bitfinex, another major exchange, is planning to consolidate its operations in Switzerland.

Expansion has been the focus of Huobi in the first quarter of this year as earlier this week, Huobi Labs — the company’s blockchain incubator — announced that it had signed a strategic partnership with Tianya Community to establish a $1 billion blockchain fund in China’s Hainan province. Expansion drives wider reach, and wider reach increases the level and speed of adoption through awareness.

Huobi’s flurry of expansion plans is characteristic of the cryptocurrency exchange industry as a whole, which has seen profits skyrocket significantly over the past calendar year but is also sailing through challenging regulatory territories.

Expansions and partnerships like is common to cryptocurrencies giants like Binance and OKEx, the two largest cryptocurrency exchanges. They have each opened an office in blockchain-friendly island nation Malta. Binance also extending its reach to the African continent to have a solid foundation across all borders. Coinbase is reportedly opening a Chicago office in a bid to build out its institutional trading products. Bitfinex, another major exchange, is planning to consolidate its operations in Switzerland.

 

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Report: EOS Loses 400,000 EOS Due to Security Glitches

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The crypto market has been bearish for some time now and a lot of tokens have had their fair share of dips. Likewise, EOS has also experienced quite a dip. However, it may seem that EOS is not suffering losses from the bearish market alone but has also experienced significant losses due to some security glitches. These issues have led to the loss of 400,000 EOS which is about $200,000, at the time of writing.

However, a report from Peckshield revealed that EOS ecosystem has been suffering from some security glitches. There were many loopholes at the early stages of the dApp ecosystem right from its launch in June as it took awhile for the system to go live. EOS, however, made a fast growth in the blockchain market attracting billions of dollars worth of investment as well as building over 200 dApps and carrying out as much as 600 million transactions.

Despite the numbers that EOS was cashing in, it had underlying problems. For one, its security issues can be traced back as far as July when a dApp, Werewolf game fell victim to an overflow attack.  EOS also had a very large number of gaming apps launched on its platform. The platform is popularly known ‘ETHEREUM KILLER’ recorded $1 million in august ABOUT $360,00 more than the drops of Ethereum. However, more attacks s

One of the gaming dApps on  EOS, EOSBet was faced with a RAM devour problem in August. The report, however, reveals that as time goes on, more attacks are likely to occur “due to the negligence of dApp developers.” The report also reveals that most of the glitches the EOS ecosystem suffered from after November were loopholes that weren’t addressed earlier in the ecosystem.

Also, the report unveiled that while the EOS blockchain ecosystem boasts of 200 dApps and more than 500,000 users, only 180,000 are active out of 500,000 accounts. The report states that while 120,000 are group control accounts active users on the platform are less than implied as there are more than 200,000 silent accounts.

However some researchers such as Guo Yonggang believe the attacks may be from external forces not related to the blockchain itself, he suggests cyberattack groups. However, the report noted that “The better way is for developers to build their own early warning platform. The benefit is that it can be implemented. Monitoring, as soon as the alarm sounds, immediately turn the game off.”



 

What do you think about the security glitches in the EOS ecosystem? Share your opinion with us in the comment section below.
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Jumia Partners with Blockchain Based Company to Provide Better Service

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The face of e-commerce in Africa is about to experience a dramatic change. All thanks to a collaboration between Japan-based blockchain telecoms platform provider, Telcoin and top online e-commerce marketplace, Jumia. The partnership was born out of a need to increase the quantity and quality of goods and services purchased on Jumia’s platform. The e-commerce company with a presence in over 15 African countries is seeking to tap into the blockchain technology to deliver efficient services to customers.

The duo will be kick-starting with a  partnership that will commence in Nigeria. The West African country seems to be a hub for e-commerce and the partnership will help Jumia add value to its cross-border transactions. Ms Lee-Ann Cassie, the Head of Africa for Telcoin explained that the firm would be working to increase the sales traffic and transactions from Nigerians in the Diaspora as well as increasing and adding value to e-commerce transactions within the country.

Telcoin is focused on creating a mobile cryptocurrency solution that would connect with global mobile networks and enable the ease of converting cash on mobile money, prepaid credit, and post-paid billing platforms. Telcoin aims to utilise existing mobile network providers, to give people access to needed financial services that include e-commerce, online remittances and payments.

The Chief Executive Officer for Jumia Nigeria, Mrs Juliet Anammah explained the partnership saying: “We’re excited, to say the least, about our partnership with Telcoin, because we believe this will have a huge impact on our commitment to improving the lives of Africans through the internet, helping them to save time and money. She also explained that the firm aims to provide services to Nigerians in the Diaspora who want to convert their digital currency to shopping vouchers on their platform.  She added, “We rely on and trust Telcoin to facilitate the currency conversion since digital currency is, in the interim, not a payment method on Jumia.”

 

What do you think about this marriage between blockchain and e-commerce? Share your opinion with us in the comment section below.
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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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India Has the Highest Number of Blockchain Developers Second to the USA

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India is carving a name for itself in the blockchain space, and this time, the Asian country is producing manpower. A market analysis has revealed that India has the highest number of blockchain developers in the world coming second place to the United States, beating Canada, the UK, and France. The analysis was carried out by Dappros a UK-based blockchain consultancy firm. The results revealed that there’s an estimation of a total of 12,509 developers in India who work with Ethereum (2,381), Solidity (1,432), Blockchain (19,627) and Hyperledger (1,579).

Although, the total estimated number of developers conflicted with the figures when separated into individual disciplines. The firm claimed that there is a difficulty in the analysis pegging an accurate number due to the fact that the data was collated from “open sources such as Linkedin”. While it is a great deal that India is moving up in the rank, Dappros still feels that there is a “need” for more blockchain developers. The firm explained in an accompanying article that there is an overall skilled labor deficit within the industry.

However, there is still a high demand for blockchain skills. Upwork, a freelance employment website in its third quarterly index of the 20 hottest job skills revealed that job postings for workers with blockchain skills have grown this year. Earlier on, the website revealed that the demand for blockchain technologists came in second place behind those with skills in robotics. On the other hand, Bitcoin cryptocurrency developers came in third place for freelance skills in Upwork’s previous quarterly report, however, it has dropped out of the top 20 job skills list.

Blockchain developers in high-tech regions such as Silicon Valley earn as much as $163,000; in New York City, they can earn as much as $150,000. The demand for blockchain developers is still concentrated in high-tech regions.

 

 

What do you think about India blockchain developers? Share your opinion with us in the comment 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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Nigeria’s Presidential Aspiriant Eyes blockchain Technology Ahead of 2019 Elections

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Nigeria is yet to have policies governing the blockchain technology. Although law makers met early in the year to contemplate on the blockchain, policies are yet to be made. However, the Presidential Candidate Of The Peoples Democratic Party (PDP), Atiku Abubakar unveiled his campaign policy document on Sunday. He revealed his Plans to create policies that would embrace the Blockchain and cryptocurrency if he is elected President in 2019.

Atiku’scampaign policy document tagged ‘Get Nigeria Working Again’ was released by his Presidential Campaign Organization. Atiku, who is a former Vice President of Nigeria identifies the need for the creation of  “a Comprehensive Policy On Blockchain Technology And Cryptocurrencies.” Although Nigeria is one of the top users of cryptocurrencies in Africa, with the west African country ranking 7th out of 178 countries likely to adopt Bitcoin by the Bitcoin Market Potential Index (BMPI) by the London School of Economics. However, it’s lawmakers are yet to decide what to do with the technology.

2019 presidential aspirant, Atiku reveals through his policy document that he aims to bring more to the economy through the blockchain. He revealed that to build the economy, he would build a  knowledge-based economy powered By ICT. He stated, “My mission is to ensure that Nigeria’s economy is responsive to
the challenges of the 21st century
knowledge economy by keeping with
the amazingly dynamic technological pace.” He believes that if ICT literacy is encouraged from Early school programmes up to adult education, Nigerian youths can awaken their entrepreneurial spirit.

Cryptoprenuers in Nigeria are constantly frustrated by the lack of regulatory frameworks. Also the Central Bank of Nigeria (CBN) and its stringent policy has lead to cryptoprenuers seeking a more favourable frameworks. Despite the warnings of the CBN about investing in cryptocurrency in March, Nigerians are still investing in digital currencies. Atiku’s policy document reveals that there are plans to integrate the blockchain technology to the Nigerian economy. Hopefully, more Nigerian and African politicians will begin to make plans towards a blockchain oriented future.

 

 

 

 

 

What do you think about Atiku Abubakar’s plans for the blockchain sector? Share your opinion with us in the comment section below.
 
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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