While we’re all waiting to see what the markets will do next there’s been a bit of movement happening with Binance with new coins being listed and their new plans to relocate to Malta.
Other very notable events that happened this week involve all sorts of data, personal data, probably you’re personal data.
So let’s get into it.
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This time regarding Japan’s FSA, or Financial Services Agency, and their official warning to Binance violating their regulations involving Japanese traders/investors and licensing requirements. Basically, the customer base for Binance has been expanding so rapidly, that they’ve also had to increase the number of employees. This time, their employees included Japanese citizens.
The issue arose with Japan’s FSA when Binance had failed to properly report this and comply with that countries specific regulations.
So at the moment it looks like Binance is looking to disconnect from their operations in Japan and instead pursue further developments in Malta. On a personal note, Malta seems like a mighty fine place to relocate. Not only is Malta just breathtaking, it’s also really putting itself out there in regards to opening their doors for cryptocurrency and facilitating its growth there. They’ve established plans for a new national strategy that will encourage blockchain tech to be drawn to this small country. They also have a specific authority that will allow for simple and clear regulations for this new development, which will make it easy for new blockchain and cryptocurrency based companies to know where they stand and how they can flourish there.
As I said earlier, the growth of Binance exchange has exploded over the past 7 or 8 months of its existence. With that amount of influx of users Binance is now one of the top, if not the number one exchange in terms of volume. So when a new coin is listed on Binance, it’s now exposed to that growing number of traders and investors and could definitely be seen as an indication for an increase in price. Of course there are no guarantees and while certainly a listing on Binance is indeed a positive, it is no sure thing to make a coins value increase dramatically.
Binance has actually added quite a few coins this week, but most notably and probably most hyped is Wancoin(WAN). People were awfully excited about this because, up until this point, the only other way you were able to be in possession of legit Wancoin is if you were able to participate in its ICO. NEM(XEM) was also very recently added to Binance as well as QTUM. If you are a fan of trading QTUM and you’ve got a high enough volume of QTUM trading pairs on your Binance account you could receive a portion of their 50,000 QTUM giveaway, this lasts until the 27th.
Alright, now on to the not so fun news.
If you’ve ever ran into a person who, to you, seemed to be a bit uptight, and paranoid about the kind of information they post on social media, or if they want to stay off of social media altogether. If you haven’t met anyone like this yet, hang out in the crypto space a bit longer, go to some meet ups and get to know the people who prefer to interact in person and you’ll probably run into a few.
This is what they were talking about:
First there was the news that a data mining and analytics company in London was able to gain access to millions of users information thanks to a very liberal data sharing agreement the Facebook granted to the developers of apps on its platform.
Who knows how many other apps have done who knows what, with everyone else’s information.
With this information ironically coming out about Facebook, it’s somewhat based on the past and present practices of dealing with your data. Even more recently the U.S. has passed legislation that will affect how your data is treated in the future, internationally. This includes your private messages on apps like WhatsApp and I’m sure a whole host of others as well.
The U.S. has passed legislation that will allow foreign police to gain access all sorts of your information and data, more or less opening the door for the world to gain access to and probably take advantage of your sensitive and personal information.
Perhaps these recent events are enough for you to reconsider your own activity on popular social media platforms like Facebook.
Perhaps you’re now even interested in learning about more secure, properly encrypted messaging channels.
Perhaps now you’re beginning to understand that the paranoia of protecting your information and personal life from social media platforms and easily accessible messaging apps isn’t really paranoia.
Perhaps it's actually now a justifiable precaution that we should all be taking more seriously.
Thanks to cryptocurrency and it’s roots being in cryptography, there are a number of different crypto projects and platforms that are working towards and some in fact already provide access to more secure, encrypted messaging channels.
If you’re not sure where to start, here are a few to check out:
I’ll also include links down below so you and explore these options further. And if you have any suggestions for crypto projects that offer end-to-end secure encryption messaging options please leave a comment down below so we can all check them out and learn more.