NEO Is Now Supported By Apply Pay, Google Pay and Samsung Pay Via Zeux

It has been reported that a new Fintech company from UK will enable NEO holders to pay merchants that accepts Apple Pay, Google Pay and Samsung Pay.

NEO is a platform much like Ethereum thus it gained the moniker the Chinese Ethereum, however, the platform uses a two cryptocurrency model which separates the main cryptocurrency from the currency being use in smart contract executions and transactions called NEO Gas.

According to Frank Zhou, Founder and CEO of Zeux, they believe that NEO is paving the way for a smart economy by giving developers the tools to deploy and scale their own smart contract applications without learning another unique language.

Zhou also believes that the strategic partnership between NEO and Zeux will help his company build upon their current infrastructure and expand their services to larger audience.

The mobile app of the platform was launched earlier this month in UK, users from other parts of Europe will be able to use the app later this year.

New Regulations In Crypto Mining In Canada

A Regulator in Canada has recently released new guideline for cryptocurrency mining in a province in the country.

The Regie de lenergie energy regulator of the Canadian province of Quebec has released new rules for cryptocurrency miner which was revealed by a major electricity provider Hydro-Qubec on Aprl 29.

The new rules ordered for the allocation of 300 megawatts (MW) to blockchain industry which is an addition to the 158 MW already granted to existing customers approved by Hydro-Quebec and 210 MW ranted to existing customers approved by municipal distributors.

There will be a selection process for the said allocation based on four criteria: Jobs created in Quebec, total payroll of direct job, value of investments and heat recovery.

According to Hydro-Quebec the new rules is designed to protect the low rates it offers to customers.

SEC Suspends Trading At Bitcoin Generation

The US Securities and Exchange Commission (SEC) took another swipe at Bitcoin by suspending all trading in securities of Bitcoin Generation (BTGN), the first publicly traded cryptocurrency exchange.

The suspension will take place from 9:30 AM EDT to 11:59 PM May 10.

SEC reveals that the suspension stems from concerns about the accuracy and validity of information BTGN has put in the marketplace.

These include public statements over the viability of a bond BTGN that was acquired from a UK-based entity, amount of BTGN’s outstanding common stock and promotional activities as well as the lack of public information regarding BTGN’s financial state.

This new development is another indication of Anti-Bitcoin attitude from the regulator which has been seen by the wider crypto community to have been dragging its feet with regards to cryptocurrency regulations.

Rakuten Taps Techrock For Authenticity Market

It has been reported that Rakuten and Techrock have partnered together to create a market for authentic goos as large as $60 billion per year.

Rakuten is a Japanese e-commerce giant which is often referred to as the Amazon of Japan, Techrock on the other hand is a blockchain startup that uses blockchain to track every step of the product’s lifecycle and rewards consumers for verifying products with the use of mobile phone.

The main aim of the partnership is to get authentic Japanese goods to customer and expand its market reach in China which is far from leading the market.

To differentiate itself from the current market leader Alibaba which has been suffering from products knocks-offs, Rakuten plans to leverage Techrock’s labeling technology to ensure authenticity of a product.

According to Alexander Busarov, co-founder of Techrock, the partnership of Techrock with Rakuten means that Chinese customers don’t have to worry about fake products.

Bakkt COO Shares How Customer Digital Assets Will Be Protected

Adam White, the Chief Operating Officer (COO) of Bakkt has recently revealed how it plans to protect digital assets of its customers on its platform.

Bakkit is an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.

The platform is a subsidiary of the Intercontinental Exchange (ICE) the operator of the world’s largest stock exchange, New York Stock Exchange (NYSE).

According to White his company wanted to set a new standard for securely storing digital assets through several initiatives.

These includes: providing cryptocurrency storage solutions, filing a license application with the New York Department of Financial Services to become a trust company, implementing bank –grade vaults and datacenters that are protected with 24/7 physical security on its cryptographic systems and it will also use the same systems that protect the New York Stock Exchange.

Hopefully with this implementations and its recent acquisition of Digital Asset Custody Company (DACC) will finally persuade the US. Commodity Futures Trading Commission Approval.

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