Facebook’s Facecoin Plan

Part of Facebook’s winning strategy is positioning itself as a social media company that aims to help people.

Facebook’s recent foray to cryptocurrencies and blockchain will employ the same strategy as it envisions itself to help people who are working in foreign regions send their earnings to their native countries.

However according to Ted Livingston, the founder and CEO of messaging platform Kik, Facebook is not going after Bitcoin but going after the U.S. Dollar.

According to the social media visionary Facebook is attempting to move the U.S. Dollar into a private online payment system by making it easier and cheaper to move money using their system and to give them reasons to keep their money inside their system.

Livingstons draws comparison to what WeChat has been doing where users can take their money out at any time and adding more features to the platform to keep users from moving out their money, such as: bills payments, merchant payment, travel booking and the like.

Binance’s CEO Clarifies Issues Regarding Binance Launch Pad’s New Sales Format

In its effort to make its Launch Pad more accessible to other participants, Binance has changed its sales format from a first come first serve basis into a lottery-style format with investors needing to satisfy some requirements.

These requirements include: Participants must have at least an average 100 BNB holdings, maximum tickets can be bought by a participant is 5 tickets only and tickets that can be acquired depends on the number of BNB holdings.

While it was designed to make their platform more equitable not everyone is happy with the new format as it is seen to favor people with higher holdings of BNB and can be easily be bypassed by people with access to multiple accounts.

Changpeng Zhao, Binance’s CEO, clarified that while it might be limiting the participants on its platform with those who hold more BNB it would also result to lower percentage of winning and dissatisfaction after the sale seeming to point out that more sophisticated investors will be able to participate.

He also states that the his company has a strong and anti-flare KYC measures which he thinks is adequate to address the issue of a whale participating with multiple accounts.

Aside from his clarifications he also revealed that the conditions on Binance’s Launch pad is not set in stone and will continue to address and calibrate its policies as it gets feedback from the larger cryptocurrency community.

Russian Crypto Regulation Bill Postponed Once Again

It has been reported that the Russian Duma pushed back its planned consideration of a bill that will recognize and regulate digital financial assets.

Legislatures moved back the reading on April with no specific day at the time this report is written.

It is widely known that Russia has a complicated relationship with cryptocurrencies with no seeming general direction where it is going.

On one hand it wants to cryptocurrencies as a means of getting around U.S. sanctions alongside countries like Iran, North Korea and Venezuela.

On the other hand its President thinks that these cryptocurrencies are not secured by anything and cannot be considered to be means of payment, settlement or store value.

Whatever the case might be a regulatory framework of digital assets will be in place sooner or later, however due to revisions of the said bill it would not serve as a framework to legalize and regulate crypto assets but a broader and non-specific document recognizing the existence of digital financial assets in the context of equity securities.

Midas Protocol Releases Universal Wallet with IDEX and Kyber Network Integration

Midas Protocol has released a new universal wallet that supports a wide range of blockchain platforms as well as built-in trading capability to trade this tokens.

At its current form it supports BTC, ETH, ZCOIN, USDT, TUSD, TOMO and coins that is built on the following platforms: ERC-20 (Etheremeum), NEP-5 (NEO) and TRC-20 (TRON).

Now with its integration with IDEX and the Kyber Network, it enables its wallet users to trade over 500 tokens directly from their wallets.

Since tokens never leaves the wallets of their users, it provides another layer of security not found in most centralized exchange where in users need to transfer their tokens into the wallets provided by the exchange.

With many security features in place and more on its way through its strategic partnerships with developers around the world it seems Midas is positioning itself to dominate or at least be one of the major players in crypto wallet space.

Georgia Emerging To Be Crypto Powerhouse

The former Soviet republic of Georgia is emerging to be one of the cryptocurrencies powerhouses with an estimated 5% of the nation’s household engaged in crypto mining or invested in the new digital economy.

The country’s government is one of the first to create an operational blockchain-powered system for property rights registration back in 2016 which has grown to over 1.3 million electronic documents by 2018.

Now the government is looking into the possibility of moving all government registries to distributed ledgers.

Much of its crypto success can be attributed to the entry of a US-based blockchain software and hardware provider Bitfury which was lured by the cheap electricity, lax regulation and tax exemption in the country.

However this honey-moon period seems to be fading away as some policy makers, future thinkers and economies are now questioning the sustainability of hosting such a big mining company in their jurisdiction that might drain away their power production especially when temperatures fall too low.

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