Litecoin – New to the Gambling Industry

Litecoin into Gambling Industry

The introduction of Litecoin into the gambling industry was a natural course of actions, taking into account the upward-trending of this cryptocurrency on the market. The gambling industry, particularly cryptocurrency-oriented platforms keep an eye on the newly released digital money that has the potential to grow in terms of volume and value. It’s difficult to imagine any top rated online casino that doesn’t include Litecoin among other blockchain cryptocurrency options. The trend of Litecoin inclusion into the gambling industry got its wings in 2019, and it appears that the newcomer is in for the long run.

The success of Litecoin in Online Gambling

As one of the most impactful aspects of Litecoin’s success in the online gambling industry, it’s important to mention that this particular cryptocurrency mines faster than most of its competitors. The rewards for each block grants 25 Litecoins, however the reward amount declines by half every four years, due to the mining mechanisms. Since the transaction period is shorter than it is with Bitcoin, many players rather choose Litecoin because it takes less for their withdrawal to take place. Furthermore, the fact that it’s accepted payment method in some of the most reliable online casinos, like FortuneJack and other popular online venues deepens the trust of the community towards the popular blockchain money.

Why Gamblers choose Litecoin Gambling

Since online gambling is prohibited in many countries, the anonymity and the information security that blockchain technology provides allows players to enjoy their favorite pastime. Since cryptocurrency-based casinos give you the chance to deposit, gamble and withdraw Litecoin directly from and into your wallet, there is no need to submit any sensitive information that might become a legal liability. Moreover, as opposed to fiat currency, Litecoin transaction fees are the lowest of the low, which keeps the player’s losses to a bare minimum.

What else you should know about litecoin casinos

It’s important to understand that not all of the Litecoin online gambling venues provide the same type of experience. The credibility of the venue is your top priority because you want to know your coins are safe once you deposit the funds. Furthermore, it’s smart to play in online casinos that provide provably fair games so you can rest assured that there is no infringement by any third party.

With each new cryptocurrency, there is a potential for a new addition in the gambling industry. Litecoin is a fast-growing digital currency with a scaling trade volume. It’s safe to say that this latest crypto option is here to stay, at the pleasure of players everywhere in the world.

Copper chosen by SWARM as preferred digital custodian

SWARM, an infrastructure provider for the issuance and trading of digital assets, has selected award-winning Copper as its preferred digital custodian. The integration of Copper’s solution will provide the institutional grade security fundamental to the mass market trading of digital securities.

Copper’s technology will secure assets held or managed as well as delivering settlement services through APIs, which trigger subsequent processes for the SWARM (SWM) that are wrapped to be invested into for investment opportunities on the SWARM platform.

Dmitry Tokarev, CEO and Founder of Copper
Dmitry Tokarev, CEO and Founder of Copper

Copper already provides custody for multiple crypto funds and investors operating a full range of investment strategies. The company also plans on providing custody for fiat in the future.

Copper has recently improved the security protocols of its custodial service further by adding military grade optical air-gapping. This enhancement ensures the complete security of an offline repository of asset owners’ sharded keys during the transaction signing process.

Philipp Pieper, Co-Founder of SWARM, has commented: “The integration between Copper and SWARM is a great fit due to the compatibility of our technologies as well as our teams.

“Copper provides the level of institutional grade security and convenience that is absolutely essential for the adoption of digital securities by institutional investors and the retail market.

“Philosophically, we have found in Copper a team who are committed to the growth of a broad ecosystem for digital securities, who share our innovative spirit, and who know that we will all get further, faster when we build together.”

Dmitry Tokarev, CEO and Founder of Copper, has commented: “SWARM is at the forefront of the emerging security token investment industry and we are excited to enable its vision.

“Although the crypto industry is evolving rapidly, it still needs large institutional involvement before the space can fully-mature.

“This cannot be achieved without proper custody solutions ensuring assets are secure alongside solutions that help institutions easily navigate the industry. The partnership between SWARM and Copper puts us at the forefront of developing the infrastructure for financial services 2.0”.

BitMex Beginner’s Guide and Review 2019

Operating from Hong Kong, BitMex was founded in 2014 by web application expert Samuel Reed, ex banker Arthur Hayes and Ben Delo whose background spans across building high frequency trading systems. This dynamic trio brought over 40 years worth of financial experience to the project to provide investors and traders with access to the global market using only Bitcoin. BitMex incorporated in Seychelles and is unregulated in any jurisdiction at present.

bitmex homepage

BitMEX, short for Bitcoin Mercantile Exchange, takes inspiration from the CME group which is also known as the Chicago Mercantile Exchange.

At the time of writing BitMEX has surpassed all competitor exchanges with its daily trading volume exceeding $1.2 billion dollars (~200,000 BTC).

The majority of cryptocurrency exchanges accept a wide range of digital assets for making deposits into the hot wallet however BitMEX currently only allows Bitcoin. However this has little impact on its user base as it is targeted more at professional traders with financial experience. The products BitMEX offers are based around derivative trading, more specifically Bitcoin futures, perpetual contracts and BitMEX UP and BitMEX down contracts.

In short derivative trading is an agreement between two separate parties that requires one party to purchase the underlying asset (Bitcoin) and the other to sell that asset on a date in the future. This doesn’t have to be tied to a physical products but for the example below it is to make understanding the concept easier.

The best way to explain Bitcoin futures is using common day to day grocery shopping. If I gave you $20 dollars for 100 eggs ( Yup! I love eggs 🙂 ) the transaction is immediately settled, but with a futures contract the settlement is agreed at a specific time in the future for a set amount meaning two elements are the price and date of delivery.

For example a humble egg farmer may be worried that the egg consumption could drop or rise in the future for any reason and thus could take advantage of this by locking the price with the buyer which means a more financially stable company. The other party would agree to this price as they may think the egg price could change in their favour determined on the type of bet. Fast forward to the future, let’s say the consumer demand for eggs rocketed due to a health trend, this might mean the price of eggs drops as sellers try to shift as many eggs as possible, the farmer is not affected by this as he locked in the price with a futures contract.

The above example of a futures contract works exactly the same but for Bitcoin, it could be based on rumour, hearsay, demand, news, regulation or anything that affects the price of Bitcoin. It essentially opens an arena for various parties to bet on the outcome based on speculation.

How to Sign Up to BitMEX

To setup an account with BitMEX, users need to register on the website by providing an email address, password, country of residence and full name. Once you have activated the account through email you can proceed with trading as no KYC or AML checks are required to deposit or withdraw funds.

BitMEX currently does not allow traders from the United States to register as it does not function within the legal framework. This is not necessarily a bad thing but could be down to a number of factors such as over zealous regulations by the SEC. It has been noted on social media that people in the US are bypassing the IP checks with a VPN.

How to Use BitMEX

Users can trade a wide variety of digital assets including Bitcoin, Cardano, Tron, Bitcoin Cash, Ethereum, Litecoin and Ripple cryptocurrencies against fiat currencies such as Chinese Yuan, US Dollar and Japanese Yen.

bitmex trading view

Unfortunately if you are new to financial trading then BitMEX will feel overwhelming but for those who have dabbled with financial instruments before it is easy to get to grips with. We do not recommend using BitMEX as a beginner unless you are very well versed in leverage trading.

All trading instruments can be found by clicking the trade tab once logged in.

To open an orderbook click as specific asset such as Bitcoin from the top pane, this will display the most recent trades in the right hand side tab followed by the trading chart and orderbook to the left. The charts can be used to analyse historical trading data.

You will also notice in the top right a customise button which allows the user to choose their viewing preferences with full control of the orderbook widget, depth chart, price chart, recent trades and positions & open orders. The trading chart data is fed directly from TradingView which is a recognised and trusted 3rd party data platform.

When a user places a trade on the BitMex platform it can be viewed in the trading interface with the option to view active and filled orders including the stops which are in place. All active orders can be canceled by the user at any point with the analysis of whether it is in red or black

Futures and Swaps

As previously explained a Bitcoin futures contract will enable a user to sell or buy Bitcoin in the future at a predetermined price. Users can leverage up to 100x on these contracts.

Perpetual swaps are not dissimilar to bitcoin futures other than that they have no settlement or expiry date but they trade along with the underlying reference Index Price whereas futures diverge from the Index price.

Prediction based Binary contracts can be also traded but they settle at 0 or 100 and designed for making a bet on any given event. Binary contracts are traded with zero leverage, a 0.25% taker fee, a, 0% maker fee and 0.25% settlement fee.

Leverage

BitMEX also enables traders to margin trade where positions can be leveraged by placing orders larger than the users current balance which could lead to a higher profit.

However margin trading can be extremely dangerous for inexperienced traders as all profits can be quickly liquidated, meaning the amount of money in their wallet will be taken.

The maximum leverage a user can take out is 1:100 which is much greater than other exchanges who sit at 1:20

BitMEX Fees

For Perpetual contrats BitMex has a 00x leverage, -0.00250% maker fee, 0.0750% taker fee, 0.0100% long funding, short funding fee of -0.0100% with a funding interval of every 8 hours.

The traditional futures fees for all tradable assets have a similar maker fee from -0.0250% – -0.0500%, although the leverage varies from 20x for example with Tron right up to 100x with Ethereum.

Deposits and Withdrawals

At present BitMex does not charge fees on withdrawals or deposits. When a user withdraws Bitcoin, the minimum network fee is set automatically based on the blockchain load which is currently low.

Users can withdraw and deposit Bitcoin at their leisure with no limits although the minimal deposit is 0.001 BTC.

To withdraw or deposit, a QR coded address is displayed when clicking the “account” tab along the top pane.

Although a user can withdraw Bitcoin at anytime, BitMEX has implemented a cut off time set at 13:00 UTC which means if you process a withdrawal after that it will be completed the next working day. This has been designed to stop automated deposits and withdrawals by bots or hackers on the hot wallet and provides the staff with sufficient time to cancel any fraudulent withdrawals.

Is BitMEX Safe?

BitMEX states on its website that it does not compromise security for convenience with their ethos based on rigorous and well tested security measures to make the platform bullet proof.

The deposit and withdrawal system is multisignature which means each time this processes is initiated its then checked by the majority of BitMex partners to ensures its legitimacy. By using multisignature it prevents users funds from being accessed by a hacker if they manage to compromise the hosting server or database.

The BitMEX trading engines uses kdb+ which is a database and toolset used by major banks and other high speed financial trading platforms.

PGP encryption is used for all communication across the board

BitMEX Customer Support

BitMEX runs a mixture of support and contact methods including IRC, Reddit, Twitter, support tickets and email contact for dealing with customer enquiries 24/7 which has often been praised as responsive on reddit.

Customers can also access an extensive frequently asked questions section for basic enquiries they may have.

Conclusion

BitMEX has an established following among traditional Wall Street traders who are familiar with margin trading. The platform is not designed or marketed towards beginners who simply want to purchase Bitcoin. In fact this is not even possible at the moment as you must own/ deposit Bitcoin before using the platform. So if you are looking to trade with futures and take advantage of the 100x margin, BitMEX is for you!

We advise everyone to start with a small trade due to the high potential losses which can occur with the type of trading on offer.

Users with no prior trading experience whom are simply looking to buy Bitcoin or other cryptocurrencies we recommend stepping away from BitMEX, you may want to read our review on the Binance exchange which is more user friendly for beginners.

Pro’s

  • Great for experienced traders
  • Can leverage 100x
  • Fast trading engine

Con’s

  • Hard to use for new traders
  • Can loose funds quite easily if not familiar with leverage trading
  • Controls a large portion of the market

Thanks for reading our BitMEX review, if you would like to visit the website for more information please visit: https://www.bitmex.com or check out the Reddit for any community support queries here: https://www.reddit.com/r/BitMEX/

Mastercard has approved the first crypto debit card in Europe

Tap n Go (TAP) has partnered with Transact Payments Limited (TPL) to provide the Tap Prepaid Mastercard® that will allow customers to convert Crypto Assets held with TAP for spending wherever Mastercard is accepted.

The TAP accounts with multiple crypto and fiat wallets and will have access to real time crypto trading with numerous exchanges, all assets are held securely in multi signatory “cold storage” wallets or electronic money client accounts.

Tap n Go have applied to the Gibraltar Financial Services Commission for a DLT licence which is currently under review.

Arsen Torosian CEO of TAP commented: “the launch of TAP has been in the making for a number of years, our partnership with TPL for our provision of the TAP Prepaid Mastercard was the final piece of our vision. We are delighted to have TPL as our partner for this product”

Kriya Patel, MD of TNL commented: “TPL are delighted to be supporting the TAP Prepaid Mastercard project and look forward to continuing to work with such an initiative partner like TAP with the roll out of their in-demand solution”.

A New Model for Applying Blockchain Technology to the Global Supply Chain

One of the most important things to understand about global supply chain management is the inherent combination of complexity and opportunity.

Today, we will examine these themes and strive to explain how they have come about and where they may lead. Let’s start with a simple thought experiment that will serve us well as an example.

The Global Ham Sandwich

Imagine you want to make a ham and swiss on rye with lettuce, tomato, and mayo. Only, this time, you decide you are going to make this sandwich out of the best ingredients (on a quality per unit cost basis) in the whole world. To do that, you need to evaluate the world’s ham market, using reputation, competitor analysis, focus group testing, and your own taste buds, to find the best ham in the world at a good bargain price. Let’s say, after months of research, you find your ideal supplier in Chile.

This process repeats for all the ingredients: the rye seeds, yeast, sugar, salt, lettuce, milk, Streptococcus thermophilus, Lactobacillus helveticus, Propionibacterium shermanii, tomato, egg yolk, lemon juice, vinegar, and mustard.

Now, because many of these products will cross borders and confront market-specific regulatory restrictions and consumer protections, you will be dealing with red tape and paperwork until your eyes start bleeding.

Finally, if you plan on selling these sandwiches, you will quickly find that the premium mustard from that little village in Turkey doesn’t taste anything like it did when you visited the mustard farm. In fact, it tastes just like the generic mustard sold at Walmart. That introduces you to the most aggravating and expensive feature of the process: visibility into your supply chain. This is best summarized by the question: How do you know if you are getting what you paid for from your supply chain?

Never mind the fact that, ironically, the Ham Sandwich supply chain is actually one of the most complicated you could dream up. The big point here is that it’s all about execution. If you can make it work for you, the shift from a local sourcing to a global supply chain can decrease costs, increase quality, and ramp both growth and margin per unit for most industries.

But the costs involved in making that transformation can be confusing and daunting, as well as self-destructive if not managed properly.

An Easier Way

However, in the age of blockchain technology, there is an easier way: new technologies built on the blockchain are being developed to massively streamline and simplify this process. One emerging example is VOLUM, a blockchain-driven technology platform catering to small and mid-size businesses looking for a global-logistics-in-a-box solution to harness the power of the global supply chain production model.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

All transactions on the VOLUM platform will utilize the VLM utility token, which will launch on May 4.

The top cryptocurrencies to invest in 2019

We think these altcoins should be part of your 2019 investment portfolio

Sia

The cloud storage industry is currently dominated by DropBox, Google, Microsoft and Amazon. These companies have taken the lion’s share of customers in the file hosting space however this is very likely to change. A small and fairly unknown blockchain startup going by the name of Sia aims to end this monopoly by redefining the technology and processes behind cloud storage.

The current methods of storage rely on massive data centres and server farms to both store and retrieve data. This centralised approach creates a number of issues. For example:

Control – One company having full control over your data.

Ownership – Who owns your data and how will they use it, sell it and profit off of it.

Security – Centralisation means bugs, malpractice and hackers can target very specific companies and infrastructure. In fact DropBox lost 68 customer million passwords not so long ago and for a short period of time and any user could access the data of other users at will.

Scalability – Each organisation needs to operate massive data centres to fulfill the storage and processing needs.

As these companies become even bigger the issues above become compounded.

The blockchain technology behind Sia is completely new for the industry and takes a more decentralised approach to solve the issues above.

When a customer uploads a file to the network it is automatically encrypted and split up into hundreds of tiny pieces. Only the uploader has the private keys to decrypt and view this data. All these encrypted pieces of data are then uploaded across many hosts and duplicated for impeccable redundancy.

With Sia storage is no longer controlled or owned by a company. Instead anyone can become a file hoster by leasing spare unused hard drive space to store encrypted data. File hosters and uploaders create a sort of digital handshake called a ‘smart contract’ which manages the storing of data between the two parties and pays the renter for the hard drive being used by the uploader.

With Sia clearly solving very real storage issues and making great progress with the project we believe it is a great time to invest in the project.

A $1,000 investment today would get you 113,000 Sia.

Ripple

Ripple takes blockchain technology and applies it to the traditional banking sector, resulting in trustworthy, verified, scalable, instant and cheap banking transactions.

For example the current Faster Payments banking service is an initiative between several banks to reduce the time of transfers between registered bank accounts. However transfers outside of that scheme take much longer and are routed through third party intermediaries. This process is not only risky but also labour and time intensive. Ripple solves these problems.

At the time of writing over 100 banks across the globe are trialling Ripple’s blockchain technology. Some of these banks include Santander, UniCredit and most recently the world’s largest Islamic bank, Al Rajhi Bank.

We think the technology behind Ripple will likely become the financial industry standard in the not too distant future.

Ripple has been within the top ten 24 hour volume across all cryptocurrencies and assets for several months now and it’s XRP currency has reached highs of $0.40.

A $1,000 investment today would get you 5,400 Ripple.

Stratis

The Microsoft backed Stratis platform is known as the C# equivalent to Ethereum. It enables programmers to produce decentralised, smart contract based apps very quickly and easily using a tried and tested programming language that has stood the test of time.

This opens it up to an already massive developer base with little to no additional learning required, giving it a clear edge over Ethereum.

Stratis is also poised to release its long awaited TumbleBit service and smart contracts in Q3 of this year and is developing the “Breeze Wallet”, a wallet feature that aims to boost privacy of both Bitcoin and Stratis users.

In the last month Stratis saw significant highs followed by a very quick drop. The coin reached all time highs of $11 but currently trades at $3. This is an ideal opportunity to buy in whilst the price is still low.

A $1,000 investment today would get you 160 Stratis.

Golem

Golem is on track to becoming the world’s first decentralised supercomputer. It utilizes the Ethereum blockchain to harness the unused/ idle power of millions of connected resources and turns it into sellable computing power.

Many companies and individuals require a service like this and currently have resort to small scale farms that can take days to process/ render and cost a small fortune.

For example games developers, film studios, data mining operations and medical researchers have to use vast amounts of processing power to complete very specific tasks. With Golem all these companies will have an always accessible, affordable supercomputer at their fingertips.

With its vast processing power Golem can also be used for making predictions across different industries such as betting, stock markets and even environmental changes.

Anyone with a computer can lease their unused processing power and in return get paid in GNT tokens. These tokens can be re-used, transferred to an exchange for trading or sold for more traditional currencies such as USD/GBP.

When taking a step back and assessing Golems end goal it offers a very unique investment opportunity not seen with any other project. It has many real world, life changing uses and the possibilities are endless.

Sitting at just $0.23 cents Golem is criminally cheap right now.

A $1,000 investment today would get you 3,500 Golem.

Monero

Monero is somewhat of a crypto veteran. The coin doesn’t mince its words and does one thing, albeit extremely well. It is currently the most secure and private coin on the market.

Anyone looking to make a safe long term investment would be wise to invest in it. The coin is seen as the ‘gold standard’ for privacy conscious users looking to stay permanently in the shadows. In fact Monero is in the top 5 most used cryptocurrencies for day to day purchases and traded across the Dark Web making it one of the few coins that is actually used as a currency.

A $1,000 investment today would get you 24 Monero.

Verge

Verge is an interesting (and possibly controversial) entry.

Like Monero it is aimed at users who take privacy seriously and combines Tor and i2p technologies to increase blockchain anonymity.

The project has one of the most active communities with a huge development team regularly ticking off new and exciting features on the roadmap. In June alone Seven major new features were pushed live.

Everything from Tor based Android wallets to RSK Smart Contracts are planned for July making this coin one to watch, especially at its current price. Despite recent price volatility the project is moving at a very quick pace and we believe this will be reflected in its price very soon.

So that’s it! There are many other projects we would have liked to add and others that ‘sound great’ (ICO frenzy anyone!!). As these projects mature and show their progress they will also be assessed and our verdicts shared. Good luck.

A $1,000 investment today would get you 324,000 Verge.

Zichain announces partnerships with BitGo and Sum&Substance

Zichain has entered into strategic partnerships with two of the leading service providers – BitGo and Sum&Substance. The alliance is meant to reinforce the company’s brokerage platform and offer a standard-setting new level of quality to its users.

BitGo is a global leader in security, compliance, and custodial solutions for blockchain-based currencies. The company is backed by Goldman Sachs and is trusted by some of the most prominent companies in the industry. Zichain has consistently put great value in security – by joining forces with BitGo, it can offer Zichain users an unprecedented level of protection for their funds and personal data.

Sum & Substance is a leading developer of remote verification and KYC/AML solutions with unparalleled expertise in its field. Zichain’s adherence to the best business practices has earned it the trust of European financial regulators. The company is licensed in the EU as a full-fledged financial institution. By partnering with Sum & Substance, it aims to enhance its users’ confidence by offering a quick and convenient KYC process. The whole verification procedure would now take 15-30 minutes, making it easy for new clients to start using ZiChange.

Zichain’s CEO, Mr. Khachatur Gukasyan, said:

“At Zichain, we adhere to the highest quality standards while developing our products – and we expect the same attitude from our partners. We have chosen BitGo and Sum&Substance because they are the best at what they do – and we will settle for nothing but the best for our clients”.

About Zichain. Zichain is leading provider of cutting-edge solutions for the digital asset industry that has assembled an international team of expert developers and finance professionals striving to raise the standards of the digital asset industry. Adhering to the principle of creating an ecosystem of products rather than narrow standalone tools, Zichain offers a range of interconnected product modules making it a new type of financial institution, ready for the upcoming era of the digital economy.

For further information, please, contact: [email protected]

ABBC Coin – Official Announcement

Beloved Community Members and Supporters,

I am proud to announce that our year-long trademark lawsuit with Alibaba has finally come to an end with mutual understanding. ABBC Foundation and the Alibaba Group have negotiated a settlement that will be mutually beneficial for both of our organizations and are ecstatic with the outcome. What started off as a feud, looks like will end as a blessing. The settlement allows us and Alibaba.com to move forward in our respective plans to truly revolutionize the way business is conducted in the ever-growing connected world.

I am thrilled to announce and share ABBC Foundation’s latest developments in exchange listings, platform development, marketing, and partnerships.

  1. Exchange Listings: A couple weeks ago we publicly announced that the ABBC Coin will be listing on 13 new exchanges. The number was not an exaggeration, as we have finalized and signed contracts with more than 10 additional unannounced exchanges for listing. We are confident that as we continue to cooperate in the announcement of listing dates and trading details, our supporters will be more than satisfied with the dramatic increase in trading volume on some of the world’s most respected exchanges. This is not an easy feat, and is only achievable by projects with truly promising futures in which the exchanges are able to see as well.
  2. Platform Development: Despite the long lawsuit, our team has been making great progress in development. We have received over $1.2 billion through various financial partners to pour into the dream platform that we have envisioned from the start. Coin Shopping Mall (CSM) has now been in development for over a year, and will soon be ready to launch in a few months. This platform aims to revolutionize the future of eCommerce and online-shopping, and it is apparent that our partners believe in the vision as well, as they have been blessing us with adamant support. Our global network of financial partners will be unveiled when we are fully established and ready to launch.

    The shopping mall will accept cryptocurrencies like Bitcoin and Ethereum, as well as a variety of other coins, the same way that current online retailers accept fiat currency. We believe that with our new wallet and staking and rewards system, which will be detailed more later, will truly push our platform to new heights. ABBC Coin holders will have the opportunity to generate real revenue and the platform will give a chance for a world with less income inequality.

  3. Partnerships & eCommerce Integrations: Other than our impressive list of financial supporters and our exchange partners, we are in the process of integrating the Coin Shopping Mall with many of the world’s most renowned online shopping malls including Alibaba, Amazon, eBay, Coupang Mall, and more. Our goal is to have at least 25 online retailers integrated into our platform at launch. We are confident that more and more retailers will want to be integrated into our platform as we grow.
  4. S. Expansion: We are currently in the process of launching an R&D (research and development) facility in the United States, in accordance with local and federal laws. This state-of-the-art facility will hopefully attract the world’s top talents in a variety of fields, not only limited to blockchain development.

We thank all our supporters and followers for your ongoing interest in ABBC Coin and ABBC Foundation’s ambitious projects. We can not be more excited about the future, and from the bottom of our hearts, the ABBC team and I pledge to work tirelessly until we succeed in revolutionizing the online shopping experience and making the economic playing field a fairer and more equal place. I hope that you stay tuned as we will continue to release more details as they are ready.

Alibabacoin now belongs to Alibaba Group Holding Limited, China

It was an inevitable ending to the rumors and speculations about the two companies both using the name Alibaba. These two companies namely Alibaba Group and Alibabacoin Foundation which now calls themselves ABBC Foundation has gone through a series of battles regarding the rights for Alibabacoin.

Last year, a new company based in Belarus and Dubai made a website called alibabacoinfoundation.com and conducted an ICO that accepted investment for developing Alibabacoin. They argued that Alibaba is a common and native name in the Middle East. While that’s true, Alibaba Group filed a lawsuit based in the US, fighting for the trademark of Alibabacoin.

This lawsuit went on for a long time and has been on the headlines for a while. But everything comes to an end. The two companies are now going for a “worldwide settlement” as they recently mentioned in an announcement. In the announcement, it was said that Alibabacoin will belong to Alibaba Group exclusively and will not be used anymore by ABBC Foundation. This means that Alibaba Group now controls and owns “Alibabacoin”.

This move is perceived and interpreted by many as a positive step toward a developing and more amiable relationship between the two companies. It’s not a secret that Alibaba.com is one of the biggest e-commerce players in the world. On the other hand, ABBC Foundation expressed their interest on collaborating with online shopping malls. In an article published in CCN, ABBC Foundation announced a future goal that ABBC will be used in large internet shopping malls around the world. In the announcement, it was mentioned that “Jason Daniel Paul Philip, CEO of ABBC Foundation…announced that ABBC can be used as payment in 30 different most famous shopping malls around the world.”

If it ends well with these two companies, they may be able to come into an understanding of mutual benefit involved should they decide to collaborate in the future. While there is no confirmed news of collaboration, there is a distinct possibility of this future developments now that “Alibabacoin” belongs to Alibaba Group.

Go Global with Cryptocurrency Accounting Platform

Recap, a privacy-focused accounting software platform for cryptocurrency has secured a sizeable grant from Innovate UK to help launch its services worldwide.

Recap has been granted £135,136 as a winner of the Transforming accountancy, insurance and legal services with AI and data competition. The funding was provided through the Government’s modern industrial strategy by Innovate UK, part of UK Research and Innovation.

Recap is an encrypted, bespoke platform which allows those with complex cryptocurrency portfolios to track, manage and strategise by bringing all the information into one platform. One of its key features is to track the large numbers of taxable transactions many investors in cryptocurrencies incur, sometimes on a per second basis.

Co-founder and Director Daniel Howitt said: “It’s exciting times here at Recap, we have an ambitious backlog of work to deliver by March. The US tax deadline for the 2018 tax year closes mid-April. We want Recap to be available way ahead of this deadline, meaning we need to internationalise the product, design and build a US capital gains tax engine and also fully monetise the product so we can start collecting annual subscription revenue.

“The US launch comes off the back of our successful private beta launch to early adopters in the UK.”

The fintech start-up, based in the East Midlands and founded by Directors Daniel Howitt and Ben Shepheard and is the first platform of its kind in the UK and is supported by software experts Selenity and chartered accountants Wright Vigar.

Daniel added: “Our seed raise of £150,000 will allow us to meet the match funding requirement of our £135,000 grant to give us £280,000 investment.

“These funds will allow us to develop our transaction matching IP, release our 1.0.0 version of the product and actively market the platform in the UK and US.

Recap is currently raising a £150,000 seed round led by a cryptocurrency investor and customer of Recap.

To find out more, visit the website here: www.recap.io