We're very proud to release this special in-depth report on technical updates and the adoption of our #OpenSource code!
a month ago
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Useful info attached in. Thank you for your contribution to this community, Kevin 👍🏻👍🏻👍🏻
🔥 Truly looks and feels like another world in Yellowstone Natl Park - Mammoth Hot Springs
2 months ago
It's Amazing Place!
Ambrosus: Launch of IoT product kits, Masternode Testing and DMP Implementation, AMB-NET Public Release, featuring Apollo Validators, AmberEx Explorer and the Bridge
2 months ago
Support Ambrosus Team As Always! Amazing achievements less than two years, please give them a little more patience, strong fundamental is the key point to the potential for signing big contracts in the future! 🌱☘️🌳🍏, 🍎🍎🍎not far away!
Japan: Largest Railway Company JR East Considers Accepting Crypto For The Whole Nation
3 months ago
The Japanese crypto scene is developing at an exponential rate as friendly crypto regulations are established, banks begin to launch their own stablecoins, a slew of new Japanese crypto exchanges come into play, and so much more.
The latest development to come out of the crypto-friendly nation is from the East Japan Railway Company (JR East) who will soon enable Japanese commuters and tourists alike to pay for their journeys with a variety of cryptocurrencies and stablecoins.
Railway Commuters to Pay with Crypto via the Suica Smartcard
According to the Japanese news program ANN News, the cloud and internet service provider IIJ is collaborating with JR East to allow travelers to pay for train tickets with cryptocurrencies and stablecoins at station shops and kiosks.
In addition to the IIJ collaboration making this venture possible, JR East has invested in the popular Japanese cryptocurrency exchange dealer DeCurret, which was recently approved by the Japanese Financial Conduct Authority (FSA).
With these connections and collaborations, JR East wants to enable customers to pay in cryptocurrencies with their Suica smartcard, which will be made possible through the DeCurret virtual currency exchange and IIJ’s expertise in connectivity and network-related services.
According to the Japanese crypto news outlet Coinpost, Managing Executive Officer of JR East, Shinobu Noguchi, said in a statement:
“JR East’s Suica operates the same settlement business, and is in a position to invest in Dikalet, and is highly expected to develop its services to create a payment infrastructure based on transport infrastructure. We started by charging and using cash, which is a general-purpose payment method, but I think that it will change greatly as the current of ‘cashless’ flows.”
Adding to this, he said that JR East wants to cater to the needs of all their customers, including those who want to pay with digital currency, which is becoming increasingly popular.
The cryptocurrencies that are currently supported and handled by DeCurret include Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP). Ethereum (ETH) will also be supported this summer. Therefore, it’s likely that the Suica smartcards will support payments in all or some of these cryptos.
As for stablecoins that are speculated to be supported, Japanese news outlet Nikkei reports that the Japanese banking giant Mizuho Financial Group (MFG) will begin to pilot Suica payments using J Coin, the bank’s own digital token pegged 1:1 with the Japanese yen.
Suica smartcards are very popular in Japan. They are accepted at over 580,000 convenience stores throughout the country, and there are said to be around 75 million cards in circulation. Therefore, once crypto payments are supported on the card it will be huge for mass adoption.
Ambrosus Progress Report 18 Mar 2019
3 months ago
Thank you very much for the update, Angel.
Exciting part: "Ambrosus Account Manager Rado Dragov is pleased to announce that there has been a remarkable increase in the number of entrepreneurs who are reaching out to use Ambrosus as their underlying platform for building blockchain based solutions!"
Congratulations, Ambrosus Team.
‘World’s Biggest’ Blockchain-Focused ETF to Start Trading on London Stock Exchange
4 months ago
While most in the cryptocurrency community are looking forward to a Bitcoin ETF, independent investment management company Invesco, which has over $800 billion in assets under management, has announced the launch of the ‘world’s biggest blockchain-focused ETF.
According to ZeroHedge, the blockchain-focused exchange-traded fund will include upon launch a portfolio of 48 different companies with exposer to blockchain technology.
Some given examples were that of Taiwan Semiconductor Manufacturing, which supplies cryptocurrency mining machine manufacturers with chips, and the CME Group, the first regulated US exchange to launch bitcoin futures. It’ll have a 65 basis points management fee, and include other firms like Apple, Intel, and Advanced Micro Devices (AMD).
The head of ETF equity product management of Invesco in Europe, Chris Mellor, reportedly stated the potential for “blockchain to boost earnings was often not reflected in the share prices of companies such as Rio Tinto, the mining company that owns hydroelectric assets that could be harnessed for cryptocurrency mining. The report reads:
The ETF will initially invest in a portfolio of 48 companies based on a proprietary scoring system developed by Elwood Asset Management, a specialist crypto investment boutique backed by Alan Howard, co-founder of the Brevan Howard hedge fund.
The CEO of Elwood, Bin Ren, noted potential applications for blockchain technology go beyond cryptocurrencies, as per his words we’re “beginning to see the technology being used by financial services companies in particular, but we expect greater application of blockchain technology across a wide range of industries.”
There are other blockchain-focused ETFs on the market, although most have attracted a relatively small amount of capital. Per ZeroHdge the largest one, Amplify Transformation Data Sharing ETF, has $110 million in assets.
Notably investors have shown interest in Wall Street firms betting on cryptocurrencies and the nascent technology behind them. A group of 14 publicly listed companies with exposure to the crypto ecosystem compiled by Yahoo Finance, as covered, was outperforming the S&P 500 earlier this year.
Crypto Victory: Colorado Exempts Cryptocurrencies From Securities Laws
4 months ago
Colorado Governor Jared Polis just signed the Digital Token Act. The new law exempts certain cryptocurrencies from securities laws and allows technologists in Colorado to operate outside of strict securities registration requirements.
Lawmakers in Colorado introduced SB19-023 earlier this year to remove regulatory uncertainty surrounding cryptocurrencies. Passage of the Digital Token Act clears the way for entrepreneurs to emerge in Colorado and to build new technologies, strong ecosystems and decentralized applications that can use utility tokens to power various activities.
Under the new law, digital tokens that meet certain criteria will be able to transfer value on a cryptographically secure blockchain and will not be labeled as securities or otherwise subject to laws designed for fundamentally different financial instruments.
Digital tokens that are exempt highlight some of the major differences between a traditional, regulated security, such as a stock or a bond, and today’s emerging class of cryptocurrencies that can execute “smart contracts”, perform functions and transfer value.
The lawmakers recognized that they are not the same.
Cryptocurrencies that have a “primarily consumptive purpose” with qualifying use cases and which are available for offer, sale or transfer will no longer face possible prohibition under article 51.
A use case would offer details of specific goods or services that are tied to the digital asset.
Under the act, Colorado becomes an increasingly pro-crypto state that aims to support entrepreneurs who are building blockchain-based systems.
“Colorado has become a hub for companies and entrepreneurs that seek to utilize cryptoeconomic systems to power blockchain technology-based business models.”
These businesses often raise capital through the sale of digital tokens.
“Companies that seek to utilize cryptoeconomic systems face regulatory uncertainty that the issuance, sale, and purchase of digital of digital tokens that have a primarily consumptive purpose may be prohibited under this article 51.”
“‘Consumptive purposes’ means to provide or receive goods, services, or content, including access to goods, services, or content.”
The passage marks a major step forward for proponents of the digital economy. It supports developers, venture capitalists and investors who are working to blend traditional platforms with crypto infrastructure and blockchain-based solutions.
Fidelity announces Bitcoin custody service live with a select group of eligible clients
4 months ago
Fidelity Investments, the largest asset managers firm, digital assets solution branch – Fidelity Digital Assets, announced that its Bitcoin custody service has gone live with “a select group of eligible clients”, earlier today on their official Twitter handle. The firm that aims to provide Bitcoin custodial services to institutional investors first announced this news comes almost a month earlier, stating that have selected clients whom they will be serving with their initial solutions.
The announcement read:
“WE ARE LIVE WITH A SELECT GROUP OF ELIGIBLE CLIENTS AND WILL CONTINUE ROLLING OUT SLOWLY. OUR SOLUTIONS ARE FOCUSED ON THE NEEDS OF HEDGE FUNDS, FAMILY OFFICES, PENSIONS, ENDOWMENTS, OTHER INSTITUTIONAL INVESTORS”
In their initial announcement, the solutions provider stated that they have built a strong technical and operational standards best suitable for institutions, meeting clients expectations from an investment giant. They had also stated that their initial clients are “an important part” of the “final testing and process refinement periods”. This, in turn, would help the Fidelity provide their platform services to a “broader set of eligible institutions.”
The blog post read:
“OUR MISSION IS MUCH BROADER THAN PRODUCTS. INSTITUTIONAL INTEREST IN DIGITAL ASSETS IS EXPANDING, AND THESE ORGANIZATIONS REQUIRE SOPHISTICATED CAPABILITIES IN ORDER TO PROCEED.”
This comes as a euphoric announcement to several members of the community as it marks as one of the first steps taken to open the cryptocurrency market for institutional investors. This is mainly because of the custody solutions and trading venue platform provided by the financial giant. More so, some also believe that the changes bought by institutional players of Fidelity would bring some light in the regulatory stance on Bitcoin and other cryptocurrencies.
XRP Raconteur, a Twitterati said:
“CONGRATULATIONS FDA ON YOUR SOFT LAUNCH. I CAN’T WAIT TO SEE YOUR FULL LAUNCH. IT’S GOING TO BE LOCO !!!”
Alec Ziupsnys, another Twitterati said:
“FIDELITY’S DIGITAL ASSETS TRADING AND CUSTODY BUSINESS IS LIVE AND SUPPORTING BITCOIN. WHEN ARE INSTITUTIONS JOINING THE GAME? WELL, NOW. “
Three Ways Samsung Is Breaking Down Walls for Global Crypto Adoption
4 months ago
The crypto-sphere has been begging for more examples of crypto adoption throughout 2017-2018. It was partly due to investors hoping for the continuation of Bitcoin’s parabolic rise. The crypto market has been anticipating Bitcoin to find a bottom to what is known as “crypto winter”. Therefore, the announcement from Samsung is refreshing.
Samsung can increase blockchain wallets by 100%
According to Mashable, Samsung sold over 30 million Galaxy S9s worldwide in the first quarter of 2018. Despite being the company’s lowest-selling phone since the Galaxy S III, the total number of Q1 consumers would be massive for the crypto and blockchain space. Imagine having 30 million more people exposed to cryptocurrencies and blockchain.
Here is something to bear in mind: according to Statista, the number of blockchain wallet users at the end of December 2018 is close to 32 million. At minimum, this number could double once the new Galaxy S10 is released.
It is important to remember that not all users of the new Samsung Galaxy S10 will be using the wallet. But the feature will no doubt spark more interest. Cryptocurrencies and blockchain have been covered extensively throughout 2018 by mainstream media. Thus, it is not hard to imagine that the vast majority of consumers has an idea of what crypto and blockchain are and that there’s a foundation for human curiosity to flourish.
Accessibility triumphs over the cool factor
Having a wallet built into our phones makes it very accessible for people to do crypto-related tasks, especially when phones are one of the things that we carry all the time, everywhere. We tend to forget our keys more often than our phones.
Obvious crypto tasks that can be done are making transactions or storing cryptocurrencies. However, most would agree that having a built-in wallet on your phone is not safe to store your crypto holdings.
It is not advisable to store your entire crypto holdings on your phone. Always consider getting a hardware wallet. But when it comes to new crypto adopters, they prefer accessibility and ease of use over cool, high-tech mumbo-jumbo. One example I can think of would be building your own computers. It is cheaper and very satisfying to build and customize your own computer rig according to your needs. But the vast majority prefer to purchase it stock, for fear of messing it up gravely.
It should not be impossible for us to use our fingerprints instead of a randomly generated password. In addition to that, the risk of misplacing a paper wallet does not apply when fingerprints are used to access wallets.
First movers in the industry have their disadvantages. They bear the economic burden of developing a new market that future followers can exploit. But it is such competitiveness in today’s world that makes being a crypto enthusiast so fulfilling. Samsung started the party, and soon others will follow.
Taiwanese consumer electronics company HTC Corporation has created the world’s first blockchain phone: the HTC Exodus. Sirin Labsis also building a state-of-the-art blockchain smartphone with a built-in ‘cold storage’ crypto wallet and distributed ledger consensus. Therefore, Samsung isn’t the first major phone brand to introduce crypto wallet capabilities but it is definitely the largest.
A report by the Daily Hodl has shed light on Apple’s potential big move into blockchain with their SEC filing. Rest assured, blockchain technology is in the minds of the biggest corporate names out there. I think it will only be a matter of time before iPhones adopt the crypto wallet strategy and integrate it with Apple Pay.
Regardless of the success that Samsung will bring to cryptocurrencies, it suggests an increasing number of crypto adoption stories in the coming months or years. In particular, mainstream corporate names.
Huawei, China’s biggest and the world’s third-largest mobile phone seller, has already announced its support for cryptocurrencies by providing access to a Bitcoin wallet app, pre-installed on all new Huawei and Honor phones.
Mobile contactless payments such as Apple Pay, Google Pay and for the sake of this article, Samsung Pay, are on the rise. Again from Statista, the number of NFC (near field communications) mobile payment users more than tripled from 53.9 million to 166 million from 2015 to 2018. Adoption for NFC mobile payment took a while, but in six years we have gone from having just five million users in 2012 to 166 million. That is a huge increase.
Throughout 2018 and these few months into 2019, there have been several companies launching their crypto cards. Companies include TenX, Crypto.com (previously known as Monaco), BitPay and Shift. The idea is good – introducing debit/prepaid cards for crypto usage. However, we should consider whether the majority of consumers would rather add another card into their already thick wallet or simply have it built into their phone. More likely, consumers will just opt to have it on their phones.
Having a crypto wallet also means consumers can finally start using cryptocurrencies for everyday use. Sure, prior to Samsung introducing wallet capabilities, all we needed was a Coinbase app to store our Bitcoin. But it’s impractical. Now imagine Samsung integrating crypto into Samsung Pay, making it an internal exchange that can simply liquidate Bitcoin into fiat on the go, effectively using crypto to pay for things. We can also expect others to follow suit.
Mainstream crypto adoption is not quite here yet but the world is preparing for it
Moonwhale consolidated a list of mainstream companies already adopting blockchain technology. The list of companies includes very recognizable names such as Facebook, Alibaba, Amazon, and more recently, JPMorgan Chase. Regulations finally caught up with the hype and progress made by cryptocurrencies in 2018. That feat alone is something to be celebrated. Proper regulations will create a better environment for innovation to thrive without hurting its ambitions too much.
2017 to 2018 were the years when crypto was a novelty or a money-making plan for retail investors. The crypto winter has shifted the general emphasis away from the speculative nature of cryptocurrencies to the value of the underlying technology. Sure, it has been no fun to watch Bitcoin drop from its peak to $3,100 towards the end of 2018, but in the grand scheme of things, the crypto space is progressing very quickly. The bear market today isn’t so bad when you zoom out.
We can expect 2019 to be very special in paving the way for the inevitable mass adoption of blockchain technology and cryptocurrencies.
A followup on my last post, cute little garden.
4 months ago