Binance DEX Launches

One of the largest cryptocurrency exchanges in the world has recently launched Binance Centralized Exchange (DEX) following the release of the Binance Chain mainnet.

Binance Dex is a non-custodial and decentralized exchange that is powered by Binance Chain blockchain protocol.

The new exchange enables users to trade crypto asset while maintaining full control over their funds at all times with all trades executed on-chain.

Pundits argue that despite the lure of never having to give up custody of your assets to an intermediary during the trade there are significant issues to be addressed when using decentralized exchanges.

According to them DEX should be at least maintain the same standard of centralized exchanges in user interface, scalability and efficiency which is a lot more difficult to execute in a decentralized environment.

Civic Gains New Partnership To Provide Blockchain ID

Civic, a company that uses blockchain technology for ID solutions has recently announced partnerships with several automated retail companies.

There are 12 companies in all which include: AAEON, AR Systems, Fastcorp Vending, greenbox Robotics, Invenda, IVM, IVS Retail Automated Concepts, SandenVendo, The-Vendersa nd Wemp.

According to Vinny Lingham, CEO at Civic states that vending machines represent an introduction to the mass market, where people can see how digital identity can work in the real world.

He further adds that this would open up an entirely new market for automated retail.

It was revealed that the 12 partners control more than 1 million internet-connected vending machines and Civic expects its technology to be used in 1,000 machines by the end of 2019.

IDC Reports Blockchain Solutions Spending To Reach $2.4 Billion By 2022 In Asia/Pacific Sans Japan

The United States research firm International Data Corporation (IDC) has recently release a report that reveals that blockchain solutions spending in Asia Pacific (APEJ), not including Japan, is forecasted to hit around $2.4 billion by the year 2022.

This was release on its Worldwide Semiannual Blockchain Spending Guide that provides an analysis of spending data from emerging blockchain sector from regional, vertical industry, use base, buyer and technology perspective.

The report also revealed that there was a marked increase in blockchain solutions spending in 2019 which hit $523.8 million up by 83.9% from $284.8 million in 2018.

IDC also expects a five-year compound annual growth rate (CAGR) of 77.5% culminating at an estimated $.24 billion by 2022.

This goes to show that the prevalent bearish market sentiment has failed to dampen the interest on the underlying technology of cryptocurrencies, blockchain technology.

BitGo Achieves SOC 2 Type 2 Compliance Certification

BitGo, a blockchain security firm has recently been awarded a security certification from an external auditor.

After completing service organizational control (SOC) 2 Type 1 certification the company has upgraded its procedure to conform to the Type 2 requirements of the same standard.

SOC 2 is a universal reporting framework with type 2 focusing on security, availability, processing integrity, confidentiality and privacy.

According to Tom Pageler, BitGo’s CSO, building confidence in the cryptocurrency marketplace means having the highest level of controls and processes in place to attract and expand institutional investment.

Vice president of product marketing at the firm, Robin Verderosa goes on to say that her company believes that this certification will become the standard throughout the industry as the crypto market continues to mature.

BlockFi Paying interest on its $53 million Crypto Deposits

According to an online crypto related news report, crypto lending platform BlockFI has receive an additional $18 million of Bitcoin and Ether last month.

With these new deposits it has increased the total of interest-earning accounts to $54 million USD.

It has also lowered its minimum balance to earn interest on bitcoin from 1 BTC to 0.5 BTC and has recently expanded its operations to India expanding its operations globally except for territories of U.S., U.K. and E.U.

Zac Prince, CEO at BlockFi, also revealed that after lowering its minimum balance requirements it has seen accelerated growth with the first half of April seeing 50% growth on client base.

BlockFi was funded by Galaxy Digital, Consensys Ventures, SoFi and Kenetic Capital and has been providing fiat loans with bitcoin and ether collateral since January.

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