AI in Finance: From Science Fiction to Modern Financial Solutions

The term “Artificial Intelligence” was coined by American cognitive scientist John McCarthy back in 1955, initiating the whole discussion on simulated cognitive processes in machines. After the Dartmouth conference of 1956, AI became a legitimate new field of knowledge, sparking interest of intellectuals all over the world – it quickly gained its advocates (scientists John McCarty, Marvin Minsky, Allen Newell among others) and naysayers (philosopher John Searle and his famous “Chinese Room” thought experiment). Yet outside of these learned circles, the general public for years to come associated AI more with science fiction than actual science – and movies like Stanley Kubrick’s “2001: Space Odyssey”, with its inscrutable and menacing AI antagonist HAL9000 helped cement this notion.

Things are very different today when AI has finally become part of our everyday lives. Predicting its future applications is now an almost mundane process. Artificial Intelligence is poised to excel in fields dealing with excessive amounts of data and a need for identifying patterns in data flows (curiously enough, ability to identify patterns is the key metric in IQ – our measurement system for human intellect). This is the reason why AI is already widely used in finance and why its role in this sector will continue to grow. AI applications in modern finance could be divided into the following categories:

Customer Service. Millennial customers value direct communication and quick replies. Small companies and startups like Zichain have been able to provide this through extensive social media presence, but large multinationals with outsourced call centers have been struggling to provide an adequate solution. Enter chat bots – an AI-based solution that has taken the banking industry by storm – and long telephone calls to ask a simple question are already a thing of the past. We believe this trend will continue as advances in AI and machine learning will allow chat bots to answer ever more complicated queries, potentially making the idea of a call center redundant in the course of the next decade.

Market Analysis Tools. AI technology and machine learning can also be used to scan data flows in real time, quickly analyse a huge amount of data and then filter it  according to a complex set of criteria. As futuristic as it sounds, this technology is already integrated into our analytical platform – CryptoEYE. It is designed to be your primary source of information about cryptocurrency markets: online price quotations for 1200+ digital assets, graphs for proprietary Zichain indices, a comprehensive CryptoWiki database of coins and tokens with all the essential metrics and a customizable news feed. This last module utilizes our groundbreaking AI and Big Data technology to scan the web for information and present it to you in the form of a news feed that is tailored for your needs and interests and prioritizes news pertinent to your investment portfolio and trading strategy.This way you are never going to miss an important event or market signal.

Financial Advisory. Artificial intelligence is capable of using a bunch of parameters (your investment goals, risk appetite, existing portfolio, etc.) to provide you with ideas for potential investments that you may want to consider. The service of a financial advisor that used to be available only to the rich clients of Wealth Management offices would now be offered to all market participants.

Asset Management. The asset management industry is poised to gain the most from current technological advances, as a number of its internal processes can be optimized with AI and blockchain technology – for example, portfolio rebalancing and risk management. This was the reasoning behind BAMP – Zichain’s innovative Blockchain Asset Management Platform. Funds using our turnkey solution will be able to spend less time on back office routine, instead allocating resources for development of trading strategy and portfolio management.

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Javvy Is Hitting The Headlines

With their pre sale ICO stage just moments away, Javvy is once again hitting all the right notes with a blitz of recent media coverage.

Earlier this week, World Business’s Kathy Ireland talked all things Javvy with CEO Brandon Elliot in a 4 minute teaser video release. Kathy described Javvy’s minimum viable product as ‘a true fintech disruptor’ while Brandon explained how his team have created an all-in-one intuitive & cohesive package that includes Know Your Customer on-boarding, a crypto exchange, and wallet; all in one application. The full interview will be released sometime during Javvy’s ICO pre sale which starts November 1st.

The Texan based “Technology Headlines” knowledge platform was also quick to pick up on the progress of Javvy. Their article listed Javvy under “10 Fastest Growing Blockchain Technology Solution Providers To Watch in 2018”. The article highlighted the need for more simplicity and cohesion in a somewhat complex crypto world, one which has certainly captured the interest of investors and decision makers recently.

Javvy has also started to gain notoriety among crypto enthusiasts. Crypto Bloggers and notable YouTuber’s have been sharing their thoughts on the project. One such video with Brandon Elliot (CEO) is highlighted at the end of this post.

To watch Brandon’s interview with Kathy Ireland, read the Technology Headlines article, or watch Crypto Rich interview Brandon, just click the links below:

World Business Interview Teaser With Kathy Ireland (Full interview coming soon!)

Technology Headlines Article

Crypto Rich/Brandon Elliot Interview

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Pundi X Interview: Has this firm created the smartest POS device in the world?

We had the pleasure of chatting with Zac Cheah, CEO and Co-founder of Pundi X, in an exclusive CoinSpectator.com interview, to find out more about one of the most exciting companies in the crypto space.

Pundi X logoNot heard of Pundi X? The firm is digitalising the retail industry with some amazing technology that will make using and buying cryptocurrency at your local shop as easy as buying a bottle of milk.

Let’s begin:

When specifically will customers be able to pay at Pundi XPOS terminals with RFID or NFC via contactless?

We’ve shipped. The first 5000 XPOS devices are on their way to pre-order customers.

Exactly when they finally arrive will vary in each country and according to local import laws and regulations.

We expect that by the start of September the Pundi X POS will have been stress-tested in busy, large-scale and public retail environments.

Pundi X XPOS devices

The UK has a large number of convenience/ mini mart chains, each with a healthy number of local shops such as Best-one, Nisa, Premier Stores, Costcutter, Londis etc. Are any of these chains such as these integrating with Pundi X terminals?

We enter into very serious and thorough confidentiality agreements with our merchant partners before deployment. I hate to be boring but a promise is a promise.

What do you think will drive the adoption of consumers paying with cryptocurrencies as opposed to using their current options?

I think the biggest obstacle to using cryptocurrencies for payments is the lack of an easy and simple option for using them.

This is especially the case in real stores. There are some work around payment methods available in store now, but none is a serious competitor to the old point of sale system: what customers and merchants are used to.

Rather than requiring consumers to master long alphanumeric addresses and private and public keys our products, the XPASS card wallet and XPOS point of sale device, provide physical representations for the digital payment revolution. The majority of consumers and retailers will be more familiar with these and more comfortable with adopting them, though we also provide entirely digital solutions, like the XWallet for the dyed-in-the-wool crypto enthusiast.

Data already shows that when people hold cryptocurrency they will spend it. E-commerce sites in countries like Japan have successfully opened up to crypto-based spending for everything from electronics to air fares. Elsewhere you see that global travel hotspots (such as Bali and elsewhere) are also highly popular locations for cryptocurrency trading because people want to put their holdings to use when they need to.

But the chances for doing so today are pretty limited, which is probably what has fuelled the perception that cryptocurrency is mostly seen as a store of value or a speculative asset. By expanding its usefulness and making available in stores and making it easy we seek to expand crypto’s reach and make it part of the consumer economy. Nothing could be more important for mass adoption.

Which countries do you see adopting Pundi X terminals most quickly?

Korea has long been an international centre of support for Pundi X. I suspect it will continue to be so for some time.

But other places are, unexpectedly, emerging as new key markets for us. The support we’ve had in South America has been remarkable.

We didn’t expect to be as popular as we are in countries such as Colombia, Brazil and Argentina at this stage of the business. But there we are. We’ve held several meetups across the continent and the response and interest from regulators, merchants and partners has been overwhelming. That’s what’s led to us opening a South American headquarters this week. We’ll have more to say about future deals in a short time.

Quite a lot of startups are trying to enter the terminal/ crypto space, how does Pundi X aim to gain the competitive edge? I assume once a retailer installs a terminal via one firm they will not want to have two or three.

When we started this journey a year ago, we were competing against the big players in the status quo – Ingenico, Verifone, Eftpos. Now, we also have to compete against other companies that seem to be moving into the crypto POS space.

Our biggest advantage, setting aside for now the many benefits of our technology, is probably our head start and we’ve been the first to market with a working product and working for the longest to improve upon it. Actually, we had a working prototype produced by November 2017, when we launched our public token sale. Here we are now, 9 months later, and we’ve been through more than a dozen different iterations of that same device in development before arriving on the version we are now shipping to international retail.

Many of the new competitors on the crypto POS scene are not yet where we were in November. It’s a long road to travel from there.

Are Pundi X terminals provided free to stores?

No, but we charge a competitive price: between $225-$300 (USD) depending on the quantity of a customer’s order.

Why should shops choose Pundi XPOS terminals over traditional terminals that also offer contactless payments?

At this stage, the primary motivation of most Pundi X partners will be to offer their customers the ability to pay in and buy and sell cryptocurrency. That is a unique value proposition in the market today. No one else offers a POS device with support for leading cryptocurrencies that can be so easily integrated into the process flow of a retail store. I’m confident of that.

But dig a little deeper and there are plenty of other compelling reasons to buy an XPOS.

We call them the smartest POS devices in the world. I think we can say that without contradiction. Not only can you pay in crypto but with just about every conceivable payment method in the world, from credit and debit cards, to Apple Pay, Samsung Pay, etc. etc.

Even in the cheapest markets in the world we are well below the price of leading competitors and dominant market players. In some instances, a market leading POS for a restaurant will cost $1500 (USD) in initial outlay for a unit that also requires ongoing rental fees.

By contrast, the Pundi X POS can actually generate revenue for retailers – any and all (small) fees levied on transactions go to the retailer and not to Pundi X.

What currencies will be supported by the terminal when it first launches?

For the pre-ordered XPOS we’ll be shipping with Bitcoin, Ethereum, NPXS and BNB payment options on each device. But an update scheduled soon after they are first received will expand the supported range of currencies to include tokens such as BNB, ZEC, WAN and many more. Software updates, including those expanding the number of supported coins, will be released periodically for download.

Your f(x) blockchain is currently in an internal test environment. When will this be launched on the main net?

We wanted to run f(x) on a test net environment from the outset to show we are serious about its implementation.

We haven’t disclosed a date for the launch of the mainnet proper yet but at this stage it’s forecast for coming months.

As with many blockchains the bottleneck is currently scaling. How is Pundi XPOS tackling this problem and how long will it take to launch the terminals?

Addressing the blockchain bottleneck is one of the very core reasons we decided to launch an open ecosystem, known as f(x).

With our plan to roll out 100,000 XPOS in three years, we will be able to scale up transaction numbers significantly along with shipping, as each device in the field can act as a node, distributed across a wide geographic area. (Currently we’re shipping a batch of 5000 but have orders out for more than another 20,000 XPOS; a total figure expected to increase in coming years).

But it’s more than just a raw power-in-numbers game; the benefits are greater than that. Many of the solutions already in the works for improving blockchain throughput, such as sharding require on the availability of a large amount of nodes in order to divide networks into smaller, more efficient pieces. Blockchains will need more available nodes for sharding to result in speedier confirmation times.

Finally, a large, geographic spread of nodes, like the global distribution network of the XPOS we’re pursuing, will help achieve consensus on a blockchain more quickly. Proofing a blockchain against collusion ideally requires a geographically dispersed sizeable network of nodes so that consensus can be achieved with integrity and at speed.

Our plan for f(x) is essentially a means of supporting two of blockchain’s biggest virtues: openness and decentralisation. We’re building a platform that will work as truly decentralised infrastructure which can serve all other public chains and grow and fuel the broader blockchain ecosystem. We also want to grow the utility of the blockchain world and will be encouraging developers to submit truly apps for inclusion on our platform.

From our research Square appears to be a major competitor in this space, what advantages do you have over them?

Global retail payments is an industry set to surpass $2 trillion (USD) this coming year. There will be several contributions to changing the face of a market this size. What’s our point of difference? Ease and simplicity, in two words. And much of that comes down to our POS device.

For early adopters and crypto enthusiasts – the significant but still, on a relative scale, very small pool of people currently holding cryptocurrencies – navigating mobile apps, copying and pasting long addresses and sending off digital money while waiting in line may seem like no obstacle at all.

For the other 99 percent of consumers – those who make up the vast majority of the $2-trillion figure – we believe it will.

Our XPOS and XPASS card provide physical representations to digital and cashless experience. And they can be easily subsumed into the current process flow of a retail checkout store. We think this will make them more appealing to most consumers and most retailers too.

Of course, we will continue to offer digital versions of our products , such as the XWallet app and our XPOS can integrate with most any digital currency wallet.

But we think to open the doors to cryptocurrency to the remaining portion of the consumer economy you have to first make them easily spendable. That’s what we’re trying to do.

You can find more about Pundi X here: https://pundix.com/ 

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WatermelonBlock partners with IBM Watson using its supercomputer to let crypto investors know what the market is thinking

WatermelonBlock teams up with IBM to introduce the power of AI to investors through IBM Watson, the computing platform that scans and analyzes big data sets in seconds, providing real-time market insights to cryptotraders

Singapore – July 2018WatermelonBlock, the company that combines big data and AI to create a market sentiment ranking of the top cryptocurrencies and ICOs, is announcing its partnership with IBM. IBM’s Watson AI is a cloud computing platform that scans, categorizes, weights and analyses big data sets in seconds.

For investors, it can be incredibly difficult to dedicate the time and resources to reading large volumes of information to better determine market trends. WatermelonBlock uses its proprietary algorithms to compute a percentage and index score for each network, known as the MelonScore. WatermelonBlock scores cryptocurrencies and ICO investment data using IBM Watson’s AI-platform, providing tangible benefits to users through a simple, user-friendly interface. WatermelonBlock recognizes the influence of opinions in the cryptomarket and uses AI to help investors stay on top of investment information in real-time. In partnering with IBM Watson, WatermelonBlock is able to read and categorize big data sets from the web according to their social influence and reach, thus empowering crypto investment decisions.

“IBM is extremely excited to partner with WatermelonBlock”, explains Boris Manitius, IBM Cloud Leader (Watson, Bluemix). “Through this partnership, WatermelonBlock’s dedicated team of data scientists, will work with IBM industry experts and IBM state of the art equipment to develop, test and monitor a system that will augment WatermelonBlock’s current environment”.    

“I’m pleased to be able to work with one of the most advanced AI engines on the planet, IBM Watson. By combining the power of machine learning with our own computer algorithms, WatermelonBlock transforms the way crypto traders arrive to investment decisions”, says Elliot Rothfield, Co-Founder of WatermelonBlock. “Through this partnership, WatermelonBlock and IBM can provide investors with real-time actionable insights and detailed contextual analysis at the press of a button, making the user experience easy from start to finish.”

About WatermelonBlock:
WatermelonBlock harnesses the power of AI and big data to produce cutting edge sentiment analysis in an intuitive, simple user experience. WatermelonBlock places the importance of information sharing and usability first, making crypto investment simple enough to fit any lifestyle, providing an indication of how the market thinks and feels 24/7.

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Food Standards Agency trials blockchain technology in slaughterhouse

The UK’s Food Standards Agency (FSA) responsible for protecting the public health of the nation has completed a pilot programme using blockchain technology to ensure compliance in cattle slaughterhouses.

The agency has long been interested in blockchain technology due to the value it could potentially add to food industries where a high number of inspections take place to ensure compliance and animal welfare.

Sian Thomas, Head of Information Management, said:

‘Our approach has been to develop data standards with industry that will make theory reality and I’m delighted that we’ve been able to show that blockchain does indeed work in this part of the food industry. I think there are great opportunities now for industry and government to work together to expand and develop this approach.’

During the pilot scheme both the slaughterhouse and the FSA had full permission to data on the blockchain, which improved transparency across the food supply chain.

Further trials are planned for July where farmers can access data from their own form with the goal aimed at replicating the scheme in other plants throughout the UK.

The FSA has said that the industry must lead the blockchain effort as currently the only data being collected is from the inspection results and communication with the agency and the farmers/ slaughterhouse.

The supply chain industry has long been seen as one of the ways in which blockchain technology can thrive due need for transparency of where products are sourced and tracked to the consumers plate.

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IOTA (MIOTA) Ledger support coming soon!

You will soon be able to store IOTA (MIOTA) on the Ledger hardware wallet!

The official IOTA wallet is currently the best option to store MIOTA; however, its usability and functionality have long been questionable at best, with many users frequently experiencing issues when sending, receiving, broadcasting and attaching transactions. In some cases, users have even been unable to retrieve their IOTA.

Navin Ramachandran IOTA
Navin Ramachandran IOTA

However, this is all likely to change very soon. We spoke with IOTA Foundation member Navin Ramachandran, who assures us that with the upcoming Trinity wallet and ledger support the team are confident they are about to deliver the most user friendly, secure wallet on the market.

 


1. Will IOTA support Ledger hardware wallets and, if so, when? Security is becoming paramount for investors due to phishing and exchanges that are unable to secure customers’ funds.

The Ledger team have recently revealed that IOTA support is on the roadmap. There are a team currently working on this and we are working with them to expedite the integration. Concurrently we have committed to supporting this integration, as soon as it is available, in the new Trinity wallet. The Trinity developers are already in contact.

2. How user friendly will the new wallet be? Lots of users are reporting problems with having to re-attach transactions several times.

The new Trinity wallet has been built from the ground up to be user friendly. This was my main aim for the project. We have tested this with over 400 users during alpha testing, and we will soon be moving into beta testing.

At beta we are confident, based on feedback, that it will be one of the best wallets in the crypto realm. But we are also currently working with an excellent designer to tweak the design to minimise user friction and maximise usability.

The challenge is always how this can be achieved in a decentralised manner but still allow for synchronisation between devices. We are working on some novel approaches together with the IOTA core developers, which we hope will bear fruit in the next few months.

3. A number of IOTA users have no confidence in the current wallet; they are stuck in limbo with no safe way to store their cryptocurrency. How are you solving this?

There’s been a lot of confusion around IOTA’s wallet, but it is important to keep in mind that when IOTA pioneered the next generation of distributed ledgers we made it clear that we had no intention of even creating a UI, as the main focus was on IoT. As demand for a GUI increased, we decided to give the community what they wanted, and we are confident that Trinity will deliver.

From Navin’s feedback it seems that the team are confident that the IoT fundamentals are functioning correctly in a tried and tested environment. In turn this allows them to now focus on and allocate more resources to user software/interaction, with the aim of developing confidence in this area.

Development in these areas is in full swing, with the Trinity wallet concentrating on squashing bugs. It is very likely that once the wallet hits beta testing, it will already be an extremely polished product. Given the problems users encounter with the current wallet, it is reassuring to see the IOTA team carrying out extensive testing and taking the community’s feedback very seriously.

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Crypto Highlights 21/04/2018

Coinbase bans WikiLeaks Shop

CoinBase has kicked WikiLeaks Shop from utilising its payment processing service without any real explanation citing that they’ve engaged in prohibited use in violation of its Terms of Service. It seems like PayPal all over again.

Flixxo celebrates +10,000 hours of content

Community based video distribution platform Flixxo has confirmed in a blog post that more than 10,000 hours of content in 15 languages for was committed in June. Most of this content has never been published on YouTube or any online platform.

Read more on Flixxo’s Medium Blog here.

Crypto ban review ordered by The Supreme Court of Russia

Back in 2016 the Vyborgsky District Court of St. Petersburg blocked Bitcoininfo.ru stating the information present on the website undermines Russia’s legal currency. The Supreme Court of Russia has now ordered the court to review the decision, it has already declined to review previously.

Read more at Bitcoin.com.

Robinhood exchange expands to Colorado

Zero-commission cryptocurrency exchange RobinHood expands services to Colorado.

Read more on CCN.

Crypto Trade Group Pressures SEC to Exempt Ethereum From Security Classification

An alliance of lawyers, venture capitalists, and entrepreneurs have recently met with the US SEC to petition for the creation of cryptocurrency “safe harbors” for specific cryptocurrencies and tokens, including Ethereum.

Read more at CryptoSlate.

Taiwan will roll our crypto regulations

According to Taiwan’s Central News Agency the Taiwanese Minister of Justice, Chiu Tai-san, has said the country will roll out regulations for cryptocurrencies to prevent them being used for money laundering, these upcoming changes are rumoured to be targeted at exchanges.

Read more at CoinTelegraph.

EU Parliament Votes for Tighter Crypto AML Regulations

Members of the European Parliament decided to vote in favour of tighter crypto AML regulations. These anti-money laundering reforms will include closer regulation for cryptocurrencies. 574 members voted in favour of this, with only 13 votes against and 60 abstentions, according to an EUP press release.

Read more at Russia Today.

Macau Monetary Authority Issues Warning On Crypto Following Criminal Ties To ICO

In a report by the South China Morning Post, the Monetary Authority of Macau has issued a warning to the public regarding fraudulent activities based around the use of cryptocurrencies.

Read more at South China Morning Post.

Amazon Web Services Releases Blockchain Frameworks For Ethereum And Hyperledger Fabric

Amazon cloud platform service has recently introduced its Blockchain framework for Ethereum (ETH) and Hyperledger Fabric allowing users to build and manage their own Blockchain-powered decentralized applications (DApps).

Emirates NBD bank goes live with cheque blockchain project

Emirates NBD, Dubai’s biggest bank, has become the first to successfully go live at scale with “Cheque Chain”, a blockchain technology project that aims to cut cheque-related fraud.

Read more at Arabian Business.

Thieves use bear spray to rob BTC ATM

Texas police have released CCTV footage of two males who robbed a Bitcoin ATM using capsaicin bear spray to disable the store clerk.

Watch the robbery on Youtube.

Deloitte proves Iconomi’s solvency

Deloitte has verified Iconomis solvency consisting of $133.6M of liabilities and $210.2M of reserves, distributed across 80 digital assets.

Read Iconomi’s Medium Blog here.

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Crypto Highlights 19/04/2018

Kraken CEO we will not answer NYC AG’s enquiry

Jesse Powell, the CEO of cryptocurrency exchange Kraken, has made it clear the firm does not plan to answer the New York Attorney General’s inquiry into cryptocurrency exchanges.

Powell added “Why don’t you try extracting this information from those businesses actually operating in your state?”

Read more on CoinDesk.

Chinese police smash ‘Pyramid-Scheme’

An investigation by the Public Security Bureau Economic Investigation Detachment in China’s Xi’an district cracked a cryptocurrency pyramid scheme wide open, the team behind Da Tang Coin (DTC) allegedly defrauded investors of $13 million dollars selling he useless coin for $0.50. They made wild claims of guaranteed profits and hired a western chairman to appear more like a “high-tech multinational corporation” said police.

Read more on HSW.

Brazil investment firm to open OTC exchange

Bitcoin’s booming in Brazil according to local media, the countries biggest investment firm XP Investimentos is planning to open an over-the counter (OTC) cryptocurrency exchange.

Read more at Finder.

Riot Blockchain received SEX subpoena

Earlier this week Riot Blockchain received a subpoena from the SEC seeking “certain information from the company”. This comes as no surprise as Riot have long raised many red flags with worried investors citing canceled board meetings at the last minute, with insiders dumping right after the firm changed their name from Bioptix.

Read more at CNBC.

Pound backed currency would not be popular

Research has revealed 60% of British people surveyed would not support a Bank of England-backed cryptocurrency linked to the pound.

Read more at the Daily Express.

Crypto hacks rely on human error

A report carried out by security firm Proofpoint has found that human error is the biggest factor in crypto attacks being successful from fake domains to dodgy plugins they all rely on the user making a mistake.

Read more at Cryptovest.

Huobi to open London office

Singapore-based crypto exchange Huobi has announced plans to set up shop in London as it seeks to continue its expansion outside of Asia.

Read more at NEWSBTC.

Reserve Bank of India orders the shut down crypto

India’s central bank has started a crack down on the trading and purchase of cryptocurrencies in India, announced at there bi-monthly monetary policy press conference. The order gives institutions currently working with cryptocurrencies three months, this has not gone unchallenged by many exchanges and businesses operating in india who are starting joint legal proceedings.

Read more at Forbes.

Amazon might build crypto snooping tool

Amazon has filed and won a patent described as a “streaming data marketplace” which will allow authorities such as the police and government agencies to match cryptocurrency addresses to actual users based on multiple data points from 3rd party sources. This data could come from an exchange for example where a user would supply their identity documents, ip address, bank account information which could tie you to addresses used to fund and withdraw assets. Spooky, eh!

Read more at Motherboard Vice.

Dow jones Media Group partners with Brave Browser

Through partnering with web browser Brave, Dow Jones Media Group will test ways to distribute content and advertising as part of a promotion that offers readers free subscription-based content. The firm owns MarketWatch, Barron’s and Financial News. Brave Browser used BAT tokens which incentivises users to engage with the ads by paying them the currency.

Read more at Tech Crunch.

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Bank Negara Malaysia issues warning against fake cryptocurrency certificate

The Central Bank of Malaysia has issued a warning to the public after a bogus university certificate sporting official stamps was found to be in circulation.

The certificate, which “certifies” that the holder has been awarded a degree as a “Certified Crypto Asset Consultant”, is stamped with both the Central Bank of Malaysia and University of Malaya logos, in what appears to be an attempt at fooling interested businesses or employers seeking an expert in such services.

“BNM does not recognise these certificate holders who use such documentation in offering consultation services. Members of the public are advised to verify the validity of any certification programme before registering” said the Central Bank of Malaysia earlier in the week.

The bank has insisted that members of the public who have been presented with such certificates should verify the authenticity before entering into a relationship.

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Cardano (ADA) Ledger support coming soon!

Cardano (ADA) will support Ledger Nano s hardware wallets in the future

Open-source crypto wallet Daedalus is currently the safest and only supported option for thousands of Cardano users who are looking to store their ADA cryptocurrency. However, it’s been riddled with teething problems over the last couple of months. But, the good news is that Ledger support is coming in the near future.

Users seem to have no initial problems when setting up the Daedalus wallet, creating a seed or downloading the blockchain, but are later locked out of accessing the wallet when they restart the software due to the screen freezing and displaying the sprint message, “Connecting to network…”

Daedalus wallet

Users have tried a plethora of potential fixes, from completely uninstalling the wallet to tinkering with firewall settings and everything in between, with no success in sight.

On the March 7th, 2018, Daedalus released version 0.9.0 and Cardano 1.1.0 but, for many, this does not seem to have not provided any solution.

We spoke to the team behind Cardano regarding the wallet problems that we have witnessed, to see if a more successful solution would be coming soon. We are pleased to say that it’s good news all round, as we can announce that users will be able to store ADA on their Ledger hardware wallets in Q3 2018.

CS: Lots of users are reporting problems with syncing the Daedalus wallet, this seems to be a common problem in the community?

The latest Cardano SL release 1.1 is designed to address syncing problems experienced recently by some users. This update was released by IOHK on the 7th March, and they are now monitoring the performance of the Daedalus wallet to assess if further action is required.

CS: When will users be able to store Cardano on their Ledger Wallets, will this be pushed in 2018?

Stage one of the Ledger integration project is complete. This means that we now have a functioning Ledger app, but this still needs to be fully tested. Stage two of this project requires IOHK to develop an interface and test it. At present this work is scheduled to be completed by Q3 2018. This will provide Cardano holders with the highest level of security by allowing users to store Ada offline.

Hardware wallet support for cryptocurrencies once seemed like an overzealous way to store digital assets, but it’s now become the de facto method due to exchanges being regularly hacked, phishing attempts and all sorts of weird and well thought out hacking methods which are used to steal your assets.

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