Ethereum-based payment platform OmiseGo and blockchain protocol Mass Vehicle Ledger (MVL) have partnered to research blockchain technology, according to a press release shared with Cointelegraph Nov. 14. MVL is the protocol behind popular Singapore ride hailing app TADA.

MVL and OmiseGo will develop a Proof-of-Concept (PoC) to ascertain whether the decentralized OMG Network is suitable for MVL’s data record-keeping system. During the PoC, MVL will record data collected from TADA on the OmiseGo platform.

Moreover, the two companies have announced further technical and research cooperation on possible blockchain applications in TADA’s services.

On Nov. 7, MVL received a taxi provider license from the Land Transport Authority of Singapore, allowing it to launch its new taxi booking service, TADA Taxi. According to Business Insider, over 2,000 taxi drivers have joined the app through  partnerships with local taxi companies.

Other taxi companies and ride-hailing services have explored applying blockchain technology to their business models.  In May, Chen Weixing, the founder of Chinese ride hailing company Kuaidi Dache, revealed his plans to create a blockchain-powered ride hailing app, adding that the service might also include deliveries.

The automotive industry has also shown a marked interest in applying new technologies like artificial intelligence  and blockchain. IOTA and Volkswagen demonstrated a PoC that used IOTA’s Tangle system for autonomous cars at Cebit ‘18 Expo in Germany last June.

Daimler AG — which produces Mercedes Benz and Smart cars — presented its own Blockchain-based digital currency MobiCoin to reward drivers for environmentally-friendly driving habits, such as driving at low speeds.

*This post is credited to Cointelegraph

A recent discovery shows the presence of phony cryptocurrency wallets found on the Google Play Store. The fight against malicious apps seems not to be ending any time soon.

Fake Wallets: The Latest Scheme by Cryptocurrency Thieves

According to The Next Web, European cybersecurity researcher, Lukas Stefanko, discovered that four fake virtual currency apps claimed to offer wallet services for NEO, MetaMask, and Tether.

Further findings by Stefanko revealed that the fake apps divided into two groups – phishing and plain counterfeit wallets. The fake MetaMask app fell into the phishing category. After the user installs the fake app, it would request for the user’s sensitive details such as private keys and wallet password. Provision of these details would cost the victim his/her virtual coins.

A screenshot by Stefanko showed that the fake MetaMask app had over 500 downloads and a 2.8-star rating by 48 reviewers. The real MetaMask app, however, does not have any app on the Google Play Store but is a web browser extension for Mozilla Firefox, Google Chrome, and Opera.

In contrast, the other group consists of fake wallets, and this is the category into which the other three fake wallets fall. Two of them masqueraded as NEO wallets, while the third pretended to be a wallet for Tether.

The fake apps display the scammer’s public address without access to the private key for the user, as the scammer owns the private key. Any cryptocurrency fund deposited into the fake wallet directly goes to the attacker’s wallet. The user cannot withdraw funds because he/she does not possess the private key.

Furthermore, research showed that the scammers used AppyBuilder, a drag and drop mobile app builder platform, to create the fake apps. Anyone can use the app builder, as coding skill is not a requirement. The number of scammed victims cannot is unclear. Google has, however, removed the fake wallets from its Play Store.

Tech Companies Going Hard on Cryptocurrency

Ethereum World News recently reported the presence of a fake EOS wallet on Google Play Store. This was the latest attempt by hackers to steal funds from unsuspecting victims. A Brazilian developer company discovered and reported the malicious app to Google who promptly removed the app.

In August, there was also a report another scam app on the Android Google Play Store. Victims paid $390 to an app that called itself “Ethereum,” that claimed to sell one Ethereum for the exorbitant amount. What they got was a picture of the Ethereum logo.

In Q3 of 2018, Google announced the ban of mobile virtual currency mining from Play Store. This was in addition to its earlier mining script ban.

The American tech giant, Apple Inc., also updated its developer guidelines. Part of the new rules banned iPhone users from mining cryptocurrency.

*This post is credited to Ethereumworldnews

The cryptocurrency world is stirring.

A technical indicator for an index tracking some of the largest digital currencies suggests the crypto industry could be poised to break out of its recent malaise and rally at year end.

The MACD, or moving average convergence divergence, gauge for the Bloomberg Galaxy Crypto Index entered its first positive divergence in a month. The move corresponds with an upward trend in Bitcoin, which makes up around 30 percent of the fund. Bitcoin is up for the seventh-straight day and is at its highest level in two weeks, hovering around $6,500.

Long-term trend lines in Bitcoin’s Directional Movement Index (DMI) also showed the digital token entering a new bullish phase this week.

“The technicals look great and the fundamentals are fantastic,” said Mati Greenspan, senior market analyst at eToro, in an email. “All signs are pointing to a Santa Claus rally in the crypto market.”

XRP, the cryptocurrency also known as Ripple and the index’s third-largest member, also moved higher this week, rallying nearly 10 percent since Monday on news that a crypto exchange may list XRP on its trading platform.

But Bitcoin and other cryptocurrencies have been volatile all year and the recent moves don’t excite everyone. Bitcoin should be worth half its recent value, based on volume trends and historical pricing, wrote Bloomberg Intelligence analyst Mike McGlone in a note. “Wish them luck, but most of our indicators remain negative,” he said.

*This post is credited to Mybroadband

eToro, the global investment platform with over 10 million registered users, today confirms the roll out of its crypto wallet.

The eToro wallet is a mobile application available via Google Play and the Apple App Store. It provides an easy to use customer interface and enhanced security. Multi-signature* security gives users the ability to see their on-blockchain transactions and balances without the fear of losing their private key**.

Yoni Assia, CEO of eToro comments: “We believe that crypto and the blockchain technology that underpins it will have a huge impact on global finance. Blockchain has the potential to revolutionise finance and we believe that we will see the greatest transfer of wealth ever onto the blockchain. We believe that in the future all assets will be tokenised and that crypto is just the first step on this journey. Just as eToro has opened up traditional markets for investors, we want to do the same in a tokenised world. The eToro wallet is a key part of this.”  

In order to ensure the best customer experience for clients, eToro is launching its crypto wallet on a phased basis both in terms of users, with a country by country roll out, and functionality.

At launch, users will be able to store Bitcoin, Bitcoin Cash, Ethereum and Litecoin in their eToro wallet. The number of supported cryptos will increase over time just as eToro has increased the number of cryptos available on its platform.

Initially, the ability to transfer crypto from eToro to the wallet will be available to Platinum Club*** members for Bitcoin. This will gradually be extended to more users and a greater number of crypto assets.

Yoni Assia continued: The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more.”

About the wallet:

The etoro wallet is provided by eToro X Limited (“eToro X”).  eToro X is incorporated in Gibraltar with company number 116348, registered office 57/63 Line Wall Road, Gibraltar (“eToroX”). eToro X have received an ‘in-principle’ approval from the Gibraltar Financial Services Commission in respect of its application for a Distributed Ledger Technology (DLT) Provider Licence application.

About eToro:

eToro empowers people to invest on their own terms. The platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. eToro is a global community of more than ten million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

eToro is regulated in Europe by Cyprus Securities and Exchange Commission and regulated by the Financial Conduct Authority in the UK.

Cryptoassets are unregulated and can fluctuate widely in price and are, therefore, not appropriate for all investors. Trading cryptoassets is not supervised by any EU regulatory framework. Your capital is at risk.

*This post is credited to Paymentweek

A latest blockchain ranking report has put Bitcoin behind the new blockchain projects like EOS and Ethereum.

The 6th Global Public Blockchain Technology Assessment Index, published by the China Electronic Information Industry Development (CCID), a government organization, listed bitcoin at the 19th position according to technological merits. At the same time, blockchain projects that surfaced after bitcoin took prime spots, with EOS topping and Ethereum, Nebula, Ripple, NEO, IOTA, amongst others, following closely.

The index judged a total of 33 public blockchain projects based on their underlying technology, applicability, and creativity. While Bitcoin has been unable to beat many of its closest blockchain peers on all the mentioned parameters, it still has managed to stay ahead of its forked version, Bitcoin Cash, which stands at the 31st spot on the index.

Interestingly, the same index report from August had put Bitcoin among the top ten blockchain projects. The last month saw the digital currency dropping to the 17th position with a total of 93.2 index points. In October, the points fell further to 92.5, bringing the credibility ranking of the bitcoin blockchain to the 19th spot.

The drop could have appeared in the wake of Bitcoin’s lower adoption while settling payments or creating decentralized applications (dapp). The digital currency’s public blockchain so far is relying on a third party solution to fix its prevailing scalability issue.  It has made Bitcoin a less attractive payment tool than its peers whose blockchain confirms transactions faster.

Nevertheless, the CCID pointer system revealed Bitcoin’s dominance as far as innovation is concerned. The digital currency scored 34.6 points on creativity, trailing ahead the rest of the 32 listed coins on the index.

“Innovation aspect, the top five were Bitcoin, Ethereum, Square, EOS, NULS, and Cardano,” the report read. “Compared with the previous period index, the index increased the most innovative public chain were NULS, IOTA, Nebula, and Bitcoin Cash.”

EOS, Ethereum Dominate

EOS and Ethereum continue to dominate the CCID index for the fourth time. The dapp and smart contract platforms this time scored 150.5 and 136.3 points, respectively, mainly excelling in terms of basic technology and applicability, which Bitcoin lacked. The report said:

“At present, EOS and Ethereum are undoubtedly the preferred platforms for Dapp development worldwide, and EOS is showing a stronger momentum. The data shows that EOS Dapp is highly active and user increments are large.”

New blockchain projects like Ripple and Nuls also entered the top 10 list, pushing Lisk and Qtum out. While Ripple had a strong month with the launch of its xRapid payment solution and partnerships with major banking and financial firms, Nuls, a China-based blockchain project, scaled its operations by entering the US market.

*This post is credited to CCN

Shakepay is a Canadian over-the-counter crypto asset trading platform designed for high net-worth persons and businesses who wish to transact large amounts of Bitcoin and Ethereum. According to the CEO of Shakepay, Jean Amiouny, the platform was established to satisfy the demand for a customized solution for trading large volumes of digital assets.

The minimum acceptable investment on the Shakepay OTC platform is CA$50,000. Users can trade the Canadian fiat currency in pairs against Bitcoin and Ethereum. The platform charges a 0.75% trading fee for each transaction which usually takes one business day to settle. The project, which had been testing for the past 12 months, will be operated in partnership with Schedule 1 Bank.

Besides the OTC trading desk, Shakepay also has a cryptocurrency wallet that allows users to transact fiat money against digital currencies. The wallet has several features, including in-app customer support, instant verification, multi-currency support, price alerts and so on. Moreover, Shakepay previously offered crypto-enabled Visa cards but has since discontinued the program. The discontinuation was a result of a directive from Visa to Wave Crest, a partner to Shakepay in this project. Visa ordered wave crest to close all accounts linked with prepaid cards.

Since its inception in 2015, Shakepay has served 40,000 customers and transacted over CA$30 million. Furthermore, the company has been recording significant growth over the past few months. Amiouny stated that the company intends to further this growth by continuously adding new features to their trading platform.

Features Of Shakepay OTC Trading Platform

  • Swift settlement – transactions are settled within one business day.
  • Affordability – the platform charges 0.75% trading fee. Notably, withdrawals are free of charge.
  • Sufficient Liquidity – the OTC desk is lined with leading crypto exchanges as well as offline liquidity pools.
  • BTC & ETH Trading Pairs – users can trade the Canadian dollar against Bitcoin and Ethereum.
  • Regulatory Compliance – Shakepay is accredited to operate throughout Canada by the AMF and FINTRAC.
  • Professional Trading Team – the Shakepay trading team is made of seasoned expert investors.
  • Concierge Service – Shakepay offers custodial services for their users.

*This post is credited to Bitcoin Exchange Guide

October 31st, cryptocurrency Bitcoin (BTC) celebrated its tenth birthday. As part of the celebration, a company called Bizkey has decided to start a new campaign called “Token Day” in Singapore.

Token Day is a campaign that is supposed to allow the public to get more familiar and better acquainted with cryptocurrencies according to reports. Not exactly a day as it will be held from October 31st to November 18th. During this period, every cryptocurrency holder in Singapore will have the opportunity to get to Singapore’s Chinatown, where 30 retailers are offering various goods in exchange for crypto.

Those willing to spend their digital coins will need Bizkey’s intelligent blockchain POS (Point-of-Sale) device. Numerous cryptocurrencies can be used, including Binance Coin, Ethereum, Zilliqa coin, Aelf coin, and others.

Bringing Crypto Adoption to the Next Level

Despite the fact that Singapore is among the most crypto-friendly places in the world, adopting cryptocurrencies as an accepted payment method is something that has yet to take place. This is why the event was created, and Bizkey hopes that the Token Day will “break the ice” and encourage other businesses to introduce crypto payments as well.

About a year ago, in November 2017, Singapore’s Monetary Authority (MAS) decided to bring new guidelines, and establish a firm difference between security tokens and utility tokens. Since then, Singapore saw over 56 ICOs in only the first five months of 2018. As a comparison, there were only 35 ICOs throughout the entire 2017. To a lot of people, this was a sign that proper regulations can go a long way when it comes to developing new businesses and technologies.

Since then, many have started seeing cryptocurrencies as a method of solving issues that have been troubling retail sector for a long time. Things including payment fraud, logistics, delays of money transfers, accounting, and similar complications were all quickly eliminated by those who accepted cryptocurrency payments.

Bizkey’s CEO and co-founder, Ken Huang, commented on the event by saying that, even in Singapore, only a few people have the opportunity to actually use cryptos for buying products and services. Now, Token Day will demonstrate that using cryptocurrencies is easy and that there is more than enough customers that are interested in paying via crypto.

In fact, Huang stated that there are between 10,000 and 15,000 crypto holders in Singapore. Estimates also say that most of them are between the ages of 20 and 50 and that they likely include tech-savvy males. Huang also expressed hope that these individuals will be among the pioneering crypto spenders during the 18 days of the event.

As for the event itself, it will have around 30 retailers participating, including Hotel 1887, SK Jewellery, Koryo Mart, 18 Hours, Steamov, and others. The move aligns with Bizkey’s goal, which is to introduce new people to the crypto world and make sure that they have a device that can accept and make all types of crypto and fiat payments. In a way, their device acts as a crypto wallet with an additional purpose, and many view it as a first step into the real digital era.

*This post is credited to News BTC

American software corporation Microsoft will integrate its Azure Blockchain technology into stock exchange Nasdaq Inc.’s Financial Framework (NFF), according to an Oct. 30 press release.

Per the recent announcement, Microsoft will integrate its Azure blockchain service with NFF, a technology which provides software for trading infrastructure and operations outsourcing, and fulfills Nasdaq’s risk and surveillance technology offering.

Within the collaboration, the parties will reportedly develop a “ledger agnostic blockchain capability” that will allow for operability across multiple ledgers. The new product will purportedly facilitate easier buyer and seller matching, management of delivery, and payment and settlement of transactions.

Integrating Azure Blockchain will reportedly allow NFF customers to deploy various blockchains through one common interface, in addition to promoting blockchain development.

Tom Fay, Senior Vice President of Enterprise Architecture at Nasdaq, said that the partnership with Microsoft removes some of the complexities of integrating blockchain technology into existing infrastructures. He added:

“Our NFF integration with their blockchain services provides a layer of abstraction, making our offering ledger-agnostic, secure, highly scalable, and ultimately helps us continue to explore a much broader range of customer use cases for blockchain.”

Recently, Nasdaq revealed a new blockchain patent, which makes reference to “an information computer system […] provided for securely releasing time-sensitive information to recipients via a blockchain.” With the patent, the company is reportedly looking to ease releasing timely information to the media while keeping it secure and watertight from a legal standpoint.

Last month in an interview with Cointelegraph, Nasdaq’s Head of Alternative Data Bill Dague said that it is exploring adding crypto datasets to its market analytics tool. However, whether or not the exchange will launch a crypto-related product remains to be seen.

In August, Azure introduced a proof-of-authority (PoA) algorithm on its Ethereum blockchain product. A PoA algorithm is based on the principle of approved identities or validators on a blockchain, and does not require competition in completing the transactions.

The new Ethereum product on Azure is equipped with a number of features to ensure its correct functioning and security, such as an identity leasing system, Parity’s web-assembly support, Azure Monitor, and a Governance Decentralized Application (DApp).

*This post is credited to CoinTelegraph

Bitcoin, the world’s first and biggest cryptocurrency, is 10 years old today.

It has been a long journey from an abstract concept in a pseudonymous inventor’s 9-page white paper to a US$200bil (RM836bil) economy, with 2,000 types of cryptocurrencies, 15,000 exchanges, and the potential to overthrow the financial industry and beyond.

How does Bitcoin work?

The paper details the use of a peer-to-peer network to allow online payments to be sent from one party to another without relying on a financial institution. In the system each owner transfers bitcoin to another by creating a unique digital signature and timestamp. All transactions are published across the entire network, but users maintain privacy by keeping their Bitcoin addresses anonymous.

It’s like signing for a package at your doorstep before passing it on to the next address – with the entire delivery history recorded and encrypted securely. In this way, transactions can be verified without a central party and owners are blocked from sending the same digital coin to more than one recipient.

What is Bitcoin mining?

Ultimately the supply of Bitcoin is capped at 21 million coins, with new units being distributed into circulation over time – in this way it functions as a store of value, a bit like gold. Mining is the process of generating new coins as a reward for building and maintaining the gigantic public ledger of every Bitcoin transaction that has taken place.

Whenever someone sends a Bitcoin to another, the transfer has to be validated by miners, which can be any computer running the Bitcoin software. These computers compete against one another to be the first to approve a new batch of transactions by solving a complex maths problem as part of the Bitcoin code – with the fastest one ‘winning’ all the money. Right now there are over 17 million Bitcoin in circulation, and about 1,800 Bitcoin is created each day.

Bitcoin mining has evolved from a bedroom activity to mass-scale production, undertaken by specialised chips known as ASICs (application-specific integrated circuits). Miners typically gather computer power together in so-called mining pools to increase their odds of winning new coins. Beijing-based Bitmain, the world’s biggest maker of Bitcoin mining rigs and operator of the world’s two largest mining pools, has filed to go public in Hong Kong.

What are Bitcoin’s milestones and major events?

In January 2009, Nakamoto released the Bitcoin software as open source code, and created the first 50 unspendable Bitcoin, known as the “genesis block”. Embedded permanently in the data is a brief line of text: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” It refers to the headline of a Times article about the UK’s attempt to prop up its economy.

In May 2010, Laszlo Hanyecz, a Florida-based programmer, spent 10,000 Bitcoin on two Papa John’s pizzas, in the first known commercial transaction using Bitcoin. At today’s rate those pizzas cost nearly US$64mil (RM267mil).

The first major users of Bitcoin were black markets such as Silk Road, which allowed users to buy and sell drugs including heroin, LSD and marijuana, and only accepted Bitcoin as payment. In October 2013 the FBI seized about 26,000 Bitcoin from the darknet marketplace during the arrest of its founder Ross William Ulbricht.

In February 2014, Mt Gox, once the world’s largest Bitcoin exchange, declared bankruptcy after the Tokyo-based company realised it had lost a total of 850,000 Bitcoin – worth around US$460mil (RM1.9bil) at the time – in an apparent hack. About 18 months later, Japanese police arrested Mt Gox CEO Mark Karpeles on charges of fraud and embezzlement.

In August 2017 Bitcoin split into two versions – one is the bitcoin we are familiar with, and the other is a new cryptocurrency called Bitcoin cash, which offers an eight-fold increase in transaction capacity. This was the result of rival arguments in the community over how to adapt the Bitcoin software to allow it to handle more transactions.

China, once the world’s largest Bitcoin market, banned cryptocurrency exchanges in September 2017 amid fears of financial chaos.

Bitcoin prices have been on a wild ride over the years, with some big ups and downs tied to major events. It was worth US$1 (RM4.20) initially in February 2011, passed the US$100 (RM420) barrier in April 2012, and hit US$1,000 (RM4,200) in November 2013. Late last year Bitcoin reached an all-time high of nearly US$20,000 (RM83,000) before shedding around US$127bil (RM531bil) in total market cap year to date, according to third-party data provider CoinMarketCap. It currently trades in a US$6,000-US$7,000 (RM25,000-29,000) range.

What’s next for bitcoin and other cryptocurrencies?

The decade-long history of bitcoin has featured scams, money laundering, cyber heists, wild speculation, and other risks. But this has not stopped everyday investors and Wall Street professionals alike from pouring their money into the cryptocurrency as it edges towards mainstream acceptance.

Developers are working to increase bitcoin’s limited transaction capacity – currently up to just 7 transactions per second – and among the popular solutions is a technology called Lightning Network, which builds a system on top of the bitcoin network to handle small payments.

Bitcoin’s invention has also highlighted the distributed ledger technology that underpins it – known as blockchain. Blockchain technology is now behind over 2,000 cryptocurrencies such as ethereum, ripple and EOS, which together have a market cap of US$200 billion, according to CoinMarketCap.

Developers are exploring applications for many of these blockchains, ranging from video games to social networks to data storage platforms. Governments and big institutions are also building their own blockchains to handle things like accounting, supply chains and identity management.

The signs are promising that bitcoin will be around for its 20th birthday in 10 years’ time.

*This post is credited to South China Morning Post

DocuSign, the San Francisco-based company that specializes in electronic signature technology, has announced the integration of the Ethereum blockchain into its signature and transaction service.

The newly integrated technology will enable clients to verify signatures via cryptographic hashing protocol implemented against the original signed document, agreement, or contract. The system works by encrypting documents and assigning them to a hash. Then, you can make a comparison to check if it has been tampered with.

How Docusign Uses Blockchain

DocuSign, which has dominated the e-signature space for years, has touted the move as highly beneficial to customers looking to have agreements exist in a neutral environment outside of the control of any party. Hashing signed documents against the blockchain also offers additional security because the hash acts like a fingerprint. The actual content of the document is kept private.

What’s more, the signing event cannot be undone because of hashing’s one-way attributes, and an event cannot be recreated. The company says the move will help bring it closer to achieving its main objective, which is to have a majority of paper agreements turned into smart contracts.

DocuSign has continued to grow through both expansion and extensive acquisition moves. It’s most recent acquisition is SpringCM, a cloud-document generation, and management company that is based in Chicago. The acquisition was worth an estimated $220 million. That said, DocuSign faces tremendous competition from its rivals – Salesforce, Oracle, and Apttus.

Why Ethereum?

The Ethereum blockchain technology is among the most popular in the world in terms of all-around innovative use. This is because it’s well suited to run programming code for decentralized applications.

Moreover, you can tweak these applications to support a variety of uses other than digital currency. The technology also allows for the addition of steps following certain rules of ownership and viewership of transaction history. Replace transaction with signed document, and you’ve got yourself a solid system for contracts.

By relying on the Ethereum network, DocuSign joins a growing list of companies that have embraced blockchain to simplify technological tasks. They’ve also joined the Enterprise Ethereum Alliance alongside a reputable list of companies that includes Deloitte, Intel, and JP Morgan Chase among over a hundred others.

*This post is credited to CoinCentral