Notizie Notizie sulle criptovalute e i Bitcoin
PRESS RELEASE. When people talk about technology, the first thoughts are cell phones, applications, or equipment; but you rarely recall Sim Cards. Those small cards people often despise, thinking that they are only chips that you use to call or have data.
Contrary to this, Sim Cards store much more information than you imagine, storing in addition to your number, contact information, chats, photos, and even financial data. Bet you didn’t know that. This is why Sim Cards have become one of the favorite targets of cybercriminals because, by squeezing them, they will be able to obtain sensitive information with which they will commit a large number of computer crimes.
Faced with this situation, today people have begun to see a new trend in communications that assure privacy, security, and anonymity, it is about Encrypted Sim Cards.
What is an Encrypted Sim Card?
An Encrypted Sim Card is an ultra-secure chip built with state-of-the-art technology and protocols based on cybersecurity, seeking to offer security, trust, anonymity, and privacy. Thanks to its technology, you will not be able to be located, intervened, and hacked since all the information on your device will be protected and far from the reach of any malicious third party.
What are the differences between Standard Sim Cards versus Encrypted Sim Cards?
The first big difference lies in the calls. When you make a call with a regular Sim, this one creates a direct connection between the caller and the person who answers; which makes it easier for the signal to be picked up and intercepted by third parties. When making the call with an Encrypted Sim Card, the signal travels to the service provider server to the secure one, where it is protected before reaching the recipient. This makes it impossible to intercept the call. Additionally, Encrypted Sim Cards allow you to create random numbers for each call.
Another difference is that the Encrypted Sim Cards come with the IMEI/IMSI concealment system, unlike a standard Sim; which are the identity codes of the cell phone and the Sim. By hiding them, makes it impossible to associate the Sim to a mobile device; making it impossible to obtain personal data or access location services.
Additionally, Encrypted Sim Cards work almost everywhere in the world for very similar rates, so it is not necessary to obtain new cards in each country, which facilitates travel and the flow of communication with your family, friends, or colleagues.
A significant item to highlight is the freedom that you have with an Encrypted Sim Card. Since you will be the one who puts together the package; without the need for contracts, plans, or cut-off dates. You will have lifetime data that you will be able to consume as you need it.
Finally, an aspect to highlight is the difference between the providers of these services and conventional mobile phone operators. The last one will request personal data, contract signatures, and data policies, then your information may be used for commercial purposes, offered to third parties, and where the same company may have access to your data traffic and call history. On the other hand, the service providers of Encrypted Sim Cards do not request any type of document, personal data, or contract at the time of purchase, this offers complete security for the client.
In conclusion, having an Encrypted Sim Card is synonymous with protection and privacy.
Sim Encriptados, a sim that turns you into a ghost on the web and allows you to communicate in more than 200 countries
The Sim Encriptados is one of the best Encrypted Sim Cards on the market that is offered by the international company Encriptados.io, an expert company in secure communications. In addition, having the best encrypted cell phone brands in the world, and encrypted applications centered the ground for them to launch their Encrypted Sim. That offers excellent features and quite affordable prices for any individual or organization.
The Sim Encriptados works in more than 200 countries around the world without being able to be located, intervened, or hacked. It is compatible with any Android, IOS, Windows, or BlackBerry device, just install it to start enjoying all its benefits.
You can buy it with your favorite means of payment, including cryptocurrencies, and recharge it from wherever you are easily and quickly. While you are using it, the balance never expires, so you will be able to take as long as you want to consume your Sim’s resources, without worrying about contracts or cut-off dates.
Are you interested in improving the cybersecurity of your devices, protecting your transactions, and becoming a ghost on the network? Then you must have the Sim Encriptados.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Six days ago, the securities regulators from New Jersey and Texas cracked down on the cryptocurrency lending platform Celsius. Additionally, the Alabama Securities Commission joined in and filed a cease and desist order against Celsius. Now the state of Kentucky is following suit and has filed a cease and desist order against the crypto lending platform.
Kentucky Sends Cease and Desist Order to Celsius
Four states in the U.S. have an issue with the cryptocurrency lending platform Celsius and the company’s interest-earning accounts. The same issues have affected the crypto lender Blockfi as well, as multiple states sent orders to the company over its interest-bearing accounts. After New Jersey, Texas, and Alabama cracked down on Celsius, Kentucky is now telling the firm it needs to stop “soliciting or selling” its interest-bearing accounts to Kentucky residents.
Similar to the rest of the state regulators from securities departments, Kentucky’s regulator believes the Celsius interest-bearing accounts are securities. The cease and desist order reviewed by Bitcoin.com News notes:
The department has become aware that the company is offering securities in the form of investment contracts in exchange for the deposit of assets with the company. These investment contracts allow passive investors to earn profit in the form of interest on the assets deposited with the company, and qualify as securities under the Act.
Securities Watchdogs Believe Crypto Interest Bearing Account Users ‘Are Subject to Additional Risks’
Unlike Blockfi, the Celsius Network has not used Twitter or its blog channel to address the allegations from state regulators. While the co-founder of Celsius recently discussed issues with Facebook authentication methods, the Kentucky cease and desist order had not been brought up, at least at the time of writing. Kentucky’s securities watchdog believes “Celsius investors are subject to additional risks.”
All four states are using similar arguments and claim the same risks are involved with Celsius accounts. Blockfi also had issues with regulators in New Jersey and Vermont, Texas, Alabama, and Kentucky. Moreover, state securities regulators may crack down on other crypto platforms that offer digital currency accounts that bear interest.
When a Bloomberg reporter reached out to Celsius for comments about Kentucky’s cease and desist order, the firm did not respond back. However, when the reporter contacted the firm last week, a Celsius spokesperson said the firm “was disappointed that the actions had been filed and disagreed with the allegations.”
What do you think about the issues the Celsius Network now has with Kentucky and three other state regulators? Let us know what you think about this subject in the comments section below.
On September 21, former Bitcoin developer Gavin Andresen published an interesting blog post about “a possible [Bitcoin] future.” The blog post details a theoretical situation for the Bitcoin network in 2061, where most [bitcoin] transactions don’t happen on the [Bitcoin] network.
A Theoretical Look at $6 Million Dollars per Bitcoin and the Year 2061
Following Satoshi Nakamoto’s departure from Bitcoin in 2010, for a few years, Gavin Andresen was considered the software’s lead maintainer after Nakamoto left him the keys. In 2011, Bitcoin developer Mike Hearn also claims he received an email from Satoshi which said that the blockchain inventor “moved on to other things” but also added, “It’s in good hands with Gavin and everyone.” However, Andresen is not the lead maintainer anymore, and has not been an active Bitcoin Core developer in years.
Censored on Reddit r/bitcoin (I think, but maybe I’m just not looking in the right place)
— Gavin Andresen (@gavinandresen) September 22, 2021
In the past, Bitcoin.com News covered Andresen’s opinion concerning Ethereum’s Tornado mixing protocol and wallet privacy in general. Andresen also discussed the Bitcoin Cash (BCH) network in January 2018 in a proposal he wrote called “Storing the UTXO as a bit-vector.” In more recent times, after the Tornado mixing blog post, Andresen shared his opinion in a blog post called: “It’s not about the tech (yet?)” Then, on September 21, 2021, Andresen once again has something to say about the Bitcoin (BTC) network.
The former Bitcoin Core developer said that people should “take this as a little piece of science fiction,” however, he further added, “of all the possible futures I think this has as good a chance of any of happening.”
“Imagine: it is the year 2061,” Andresen writes in his latest blog post. “The BTC price is six million US dollars– equal to about a million 2021 dollars because of inflation. Miners are being rewarded 0.006103515625 BTC per block, plus transaction fees of about 5 BTC for 4,000 or so transactions ($7,500 per transaction). But most BTC transactions don’t happen on the BTC network. Most BTC is locked up in multisignature outputs secured using multiparty computation and mirrored on another chain as ‘wrapped’ tokens,” Andresen adds. The blog post further stresses:
People moved their BTC either because they want faster transactions, lower fees, more privacy, or want to invest their BTC in decentralized financial stuff. Or maybe all of the above. The transactions that do occur on the main BTC network are high-value, mostly between super-whale-size holders (centralized exchanges, central banks, and the decentralized multiparty computation addresses that hold all the wrapped coins).
Andresen: ‘The Possibility of Zero Bitcoin Circulating on the Bitcoin Network’
Andresen’s theory could very well happen and there currently is a lot of wrapped or synthetic bitcoin (BTC) being used on other blockchains. Dune Analytics shows the number of BTC leveraged via Ethereum is 269,642 BTC across seven different projects. The Wrapped Bitcoin (WBTC) project commands an aggregate total of 205,921 of those coins at the time of writing. Andresen continues his theoretical post by saying the super whales take hold of the network forever.
“These whales maintain the BTC network forever,” Andresen writes. “They are the miners and the transaction creators; they don’t care how high transaction fees go, because they receive as many fees as they pay. In the year 2100, the whales notice that the mining reward is basically zero, and there are fewer and fewer transactions happening on the slow, expensive, zero-privacy BTC network. So they decide to simplify and save money by shutting it down,” the former Bitcoin developer adds. Andresen’s blog post goes on:
One by one, they shutdown the ‘bridges’ that move BTC between chains. Then they burn any BTC locked on the BTC chain by sending it to the 0x000… address, to make sure nobody can ever spend it on the BTC network. Eventually, there are zero new BTC being produced on the BTC network, and zero BTC circulating on the BTC network. There is nothing left to secure, and the chain stops.
Are Sidechains Competitors or Will They Help Bitcoin Scale?
Andresen concludes that roughly “20-or-so million BTC” will circulate on other blockchain networks. “Valuable because there are a limited number of them and because BTC was the first scarce digital asset,” Andresen deduces at the end of his blog post. Interestingly, the topic is being discussed in recent times, but not necessarily stemming from Andresen’s blog post.
By not actually settling anything in a discrete way.
I am not attacking Bitcoin, I am attacking Bitcoin misconceptions.
Don't be upset, learn.
— John Carvalho (@BitcoinErrorLog) September 24, 2021
For instance, on September 24, the bitcoin pundit John Carvalho, otherwise known as “bitcoinerrorlog,” said: “Good morning, sidechains compete with Bitcoin, not scale it. (They also don’t actually exist.)” Carvalho followed up his tweet with the following opinions:
- The original idea and design of a two-way peg was never achieved
- They should be called anchorchains or something
- They are like shitcoins that compete for transactions instead of as money.
- They do not reduce sh**coin usage
- They are not ‘on’ Bitcoin
Although, not everyone agreed with Carvalho’s opinion about sidechains. The bitcoin (BTC) proponent John Light shared his opinion about Carvalho’s statements:
“Good morning, sidechains that use BTC as the native asset and pay bitcoin miners for security don’t compete with bitcoin,” Light tweeted in response. “Even if sidechains that use BTC as the native asset didn’t pay bitcoin miners for security, they would be no less competing with bitcoin than, say, Lightning which siphons fees away from miners to LN routing nodes,” Light added in his Twitter thread. Light also shared a paper called “Scaling bitcoin with sidechains” and concluded:
Sidechains also help scale bitcoin.
What do you think about Gavin Andresen’s recent theoretical blog post about the Bitcoin network in the future? What do you think about the conversation between the bitcoin proponents John Carvalho and John Light? Let us know what you think about this subject in the comments section below.
Cryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally. Only 10 digital asset trading platforms have already submitted their documents to the Korean anti-money laundering body.
Compliance Deadline for New Korean Crypto Regulations Expires Friday
Registering with Korea’s Financial Intelligence Unit (FIU) is a key requirement for both local and foreign crypto exchanges providing services to Korean investors under the tougher new regulations coming into force after Sept. 24. A total of 10 out of dozens of coin trading platforms have so far filed applications with FIU, the anti-money laundering division of the Financial Services Commission (FSC). The group includes Upbit, Bithumb, Coinone, Korbit, and Flybit, Yonhap reported, quoting the body on Friday.
South Korea’s revised Special Funds Act, which introduces the stricter rules, took effect on March 25 and will be enforced now, after a six-month grace period. According to its provisions, digital asset exchanges also need to obtain an Information Security Management System (ISMS) certificate from the Korea Internet and Security Agency. Financial officials have announced that 28 out of 66 exchanges have acquired the certificate up to this point.
Cryptocurrency exchanges are also required to partner with domestic banks on the issuance of real-name bank accounts. If they don’t do that, they will not be able to offer trading pairs with Korean fiat currency. Only the top four platforms – Bithumb, Upbit, Coinone, and Korbit – have secured real-name account deals with commercial banks as the financial institutions fear exposure to crypto-related risks like money laundering.
Mid-size exchanges such as Flybit, Coredax, and Foblgate are suspending Korean won pairs, the report notes. While the exact turnover on these and smaller platforms is hard to estimate, market observers quoted by the Korea Herald have said that they account for between 5% and 7% of the total amount of cryptocurrency traded in the Korean market. In light of the upcoming regulations, some exchanges have also delisted certain “high-risk” coins.
As Bitcoin.com News reported earlier this week, around 60 cryptocurrency exchanges are expected to discontinue all or some of their services targeting Korean investors. At the time, only Korea’s largest crypto trading platform, Upbit, had been licensed to conduct business in the country after the Financial Intelligence Unit accepted and reviewed the report filed by its operator, Dunamu Inc.
Cryptocurrency exchanges that don’t submit the necessary documents such as a written intent to do business by the end of the day will be forced to close down, the national public broadcaster KBS reported, quoting the FSC. Operators that fail to comply with the new rules but continue their activities without a license face up to five years in prison or fines of up to 50 million won (over $42,000).
Do you think more cryptocurrency exchanges will be able to meet the new Korean regulatory requirements in the future? Share your expectations in the comments section below.
The People’s Bank of China (PBOC), the country’s central bank, published a Q&A to its website which said that Chinese citizens participating in virtual currency exchange offshore is “considered illegal financial activity.” The PBOC also reiterated comments it had made in the past stressing that “financial institutions and non-bank payment institutions” cannot process crypto payments.
China’s Central Bank Shakes Crypto Markets
The cryptocurrency economy shuddered on September 24 after China’s central bank once again said decentralized virtual currencies are not welcome in the country. The PBOC has been saying things like this since 2013 and then four years later, they banned crypto exchanges operating domestically in 2017. In 2021, as the crypto economy reached new heights in value, the Chinese government cracked down on bitcoin miners operating in the country. This caused Bitcoin’s global hashrate to plummet a great deal and many Chinese miners migrated to other regions.
Today's China news is the PBoC publishing a detailed Q&A with what seems to be mostly old news. This was taken up by the likes of Bloomberg who incredibly broadcast it as "the toughest blow yet to the trillion-dollar industry". https://t.co/C3Cw0QAenN
— Alex Krüger (@krugermacro) September 24, 2021
Now China’s central bank is warning the citizenry of “illegal” behavior when it comes to cryptocurrency use. The PBOC posted a Q&A to the central bank’s website which declares virtual currency exchanges offering services to domestic residents are illegal and will be investigated. “Overseas virtual currency exchanges that use the internet to offer services to domestic residents is also considered illegal financial activity,” a rough translation of the comments noted. The translation also said that employees working for these international exchanges will be investigated. The PBOC further added:
Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies.
China’s Seventh Warning, ‘Onchain Fundamentals Still Indicate That Bull Market Continuation in Q4 Is Likely’
Meanwhile, prior to the news from China, the crypto economy was in the midst of rebounding from the last downward slide after the initial Evergrande scare. In a note sent to Bitcoin.com News, the executive director at crypto/digital assets hedge fund ARK36, Ulrik K. Lykke, noted that this is the seventh time the Chinese government has cracked down on bitcoin.
“Yet again, the Chinese government has cracked down on Bitcoin. Since 2013, it has done so at least seven times now – and twice this year already,” Lykke stressed. “While each time this happens, the markets react with a price drop, each time the effect is smaller and more short-lived. The ‘China bans Bitcoin’ story has gained almost a meme-like status in the Bitcoin community because of this. Investors should be careful not to make emotional decisions based on this trending news story as onchain fundamentals still indicate that bull market continuation in Q4 is likely.”
now all the poor people will panic sell
rich people will buy it up
then the value will skyrocket again leaving poor people holding the bag https://t.co/7oKtGpUgDd
— Tim Pool (@Timcast) September 24, 2021
Ballet Founder Bobby Lee: ‘Not the Last Nail in the Coffin’
Bobby Lee, the founder of one of China’s first bitcoin exchanges and the cold storage card firm Ballet, said that the PBOC warning from China is not the end. “Don’t panic: China has just banned bitcoin again. This time, the ban targets trading on offshore exchanges (using VPN), as well as using local agents or OTC services to exchange from CNY to & from USDT. As bad as this may sound, it’s actually NOT the last nail in the coffin,” Lee remarked on Twitter.
when my friends ask me about china ban all i can say is “ah that happens all the time”
— Neeraj K. Agrawal (@NeerajKA) September 24, 2021
George Zarya, CEO at digital asset prime brokerage and exchange Bequant discussed the subject with Bitcoin.com News on Friday as well. “China has been known to go to extremes with either very assertive statements and prosecutions to complete radio silence,” Zarya told the Bitcoin.com newsdesk.
“This time the point was made very clear that China will not support cryptocurrency market development as it goes against its policies of tightening up control over capital flow and big tech. For the institutional crypto industry, it won’t change much as those who could leave already left and those who couldn’t have either closed or gone under the radar. The retail market most likely has gone under the radar and will continue to support market volumes,” the Bequant executive added.
What do you think about China’s latest statements about bitcoin and virtual currency exchange? Let us know what you think about this subject in the comments section below.
Blockchain developers can find it very daunting to attract an audience these days, when so many new ventures are hitting the market at an ever increasing pace. This is why Smart Marketing Token stepped up to help projects with promotion, so they can reach all their goals and spread the word about blockchain technology around the globe.
SMT Is Building on the Success of Student Coin
Smart Marketing Token is a tokenized marketing agency that will be responsible for promoting tokens created on the Student Coin Terminal. SMT will be providing promotional services for ICO, IDO, and IEO. All of the assistance will be billed based on the commission from the generated net profit. All ICOs Launchpads that will be listed on Student Coin Terminal will be promoted by SMT, and the service will cost just 3% of the total net profit raised in funding on STC Ecosystem.
If you are not yet familiar with this ecosystem, Student Coin is a platform that allows users to easily design, create, and manage personal, corporate, NFT, and DeFi tokens. STC raised more than $21 million in its ICO on April 22, 2021, and ranked within the top 500 crypto on the coin rankings. Wojciech Podobas, the CEO and Founder of Student Coin, now also serves on the Smart Marketing Token Advisory Board. This will ensure that SMT tokens are set to gain a lot from the experience and expertise developed by the success of Student Coin.
SMT has a growing list of partners in addition to Student Coin, which includes: Coinzilla – an initiative to promote the continuously expanding crypto niche; Lean Token – the currency for Lean and Continuous Improvement Practitioners; Coinranking – Provider of the freshest data about cryptocurrency; Dextools – Real-time data analysis service; and Coincodex – Provider of the freshest data about cryptocurrency and AI trading.
One of the long term goals of Smart Marketing Token is to build a platform on which projects will be able to automatically purchase marketing services that will be done by freelancers 24/7 in an exceptionally fast time. This will include everything needed for promotion such as buying traffic, creating high-performing banners, SM promotion and more. Another goal is to also build an educational platform, available only for SMT Token holders to share knowledge and find tips and tricks from marketing experts.
The Best Way to Buy SMT Tokens
Every quarter Smart Marketing Token will give the community of SMT holders an opportunity for their voices to be heard. They will be able to choose and vote with their coins on the project that they want SMT to promote. The more SMT they hold, the stronger their voice will be. This element will have an impact on the SMT token price, the better the project that the community chooses, the higher the price will rise.
At some point of the project, it is also planned to introduce the buyback and staking program. SMT Token buybacks will be performed using part of the funds raised from B2B clients and will be distributed via SMT Token stakers.
Smart Marketing Token launched SMT on August 2, 2021, for community members and the public to purchase tokens. The event will run until October 31, 2021, and will be divided into 100 phases. Each phase has a target cap of $20,000, with subsequent phases attracting a 1% rise in SMT value. For now, the team has already collected more than $700,000 via the event. The SMT team is fully transparent in its activities and operates under the regulations of the European Union.
To learn more about the project visit SmartMarketingToken.com right now. You can also purchase SMT Tokens through the website – the easiest way to buy SMT using your credit card, Coinbase or Metamask wallets.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Fintech firm Centbee recently announced it has successfully completed the testing of its cross-border remittance application, Minit Money. The testing of the application was carried out within the framework of the South African Intergovernmental Fintech Working Group (IFWG)’s regulatory sandbox.
Using Crypto to Enable Faster and Cheaper Remittances
In a statement, the fintech firm claims its Minit Money application has demonstrated an ability to “enable foreigners living in South Africa to send money home across Africa to bank accounts or mobile money wallets at a competitively low cost.”
Meanwhile, in his remarks following Centbee’s formal graduation from the regulatory sandbox, the firm’s co-founder, Angus Brown, spoke of “incredible” future growth in the remittance app market. Brown explained:
We’re proud to have graduated from the IFWG’s inaugural regulatory sandbox and are aggressively scaling up our winning remittance solution. We expect to see incredible growth in the remittance app market in the coming years and are confident in our ability to bring fast, low-cost transactions to everyone.
Centbee One of the First to Graduate
Centbee, along with five other start-ups, was accepted into the first cohort of the IFWG’s regulatory sandbox. As reported by Bitcoin.com News, Centbee was one of the five crypto or blockchain-related start-ups that had been given the nod to test their products by the IFWG. Therefore, as part of its arrangement with regulators, Centbee would test the “regulatory treatment of crypto assets (specifically BTC and BSV) for low-value cross-border remittances between South Africa and Ghana and vice versa.”
The fintech firm’s statement reveals that the start-up has “since expanded operations to include money sending from South Africa to Nigeria, Senegal, Benin, Ivory Coast and Uganda.” Furthermore, there are plans “to add Mali, Tanzania, Kenya, Mozambique and Zimbabwe in the coming months,” the statement explained.
What are your views on this story? Tell us what you think in the comments section below.
The Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers.
Central Bank of Russia Blacklists Crypto Platforms
As part of its monitoring of the financial sector, the Central of Russia (CBR) regularly identifies illegal financial services providers and warns Russian investors about fraudulent platforms. This week, the regulator added another 105 companies to its growing list of businesses showing “signs of illegal activities in the financial market.”
Among the new entries, the monetary authority has blacklisted a number of crypto companies. Most of them have been classified as resembling financial pyramid schemes. Bitflows, Bitkoresh, Bittrex-global, Crypto Invest Club, Idleminer, Miners Capital, and Money Miner fall under this category. Another entity, Bitford, has been designated as an “illegal professional participant in the securities market.”
The bank reminded the public that in order to offer most financial services in the Russian Federation, providers are required to obtain a license from the central bank or register with the regulator. “If this condition is not met, then, most likely, the organization operates illegally, and consumers can be deceived,” the authority says while also warning it’s not obliged by current law to compensate victims of illegal platforms.
Last month, Bank of Russia blacklisted three entities — To The Mars, To The Moon, and TTM Group — linked to the promotion of the Finiko crypto pyramid. Financial damages attributed to the Ponzi scheme, one of the largest in modern Russian history, amount to $4 billion, according to independent estimates quoted by Forklog. A report by Chainalysis revealed the pyramid received over $1.5 billion worth of bitcoin in less than two years before it collapsed this summer.
CBR blacklisted Finiko in February and a batch of 15 cryptocurrency projects was added in June, the crypto news outlet noted. “To suppress illegal financial activities, the Bank of Russia takes measures to block the websites of such companies, and also interacts with law enforcement and other authorized bodies, foreign regulators to apply other measures,” the authority explained.
The Central Bank of Russia has continuously opposed the adoption of cryptocurrencies, issuing multiple warnings for investors. Last week, its Deputy Chairman Sergei Shvetsov stated the bank would not support increasing access to crypto markets, insisting cryptocurrency is “highly risky and has signs of a pyramid scheme.” Earlier in September, the regulator recommended banks block cards and wallets used to transact with crypto exchangers, and in July, CBR advised Russian stock exchanges to avoid trading crypto instruments.
Do you think Bank of Russia is treating companies involved in the crypto space equally? Share your opinion in the comments section below.
According to the findings of one study, nearly 91% of deaths from natural disasters recorded between 1970 and 2019 occurred in developing countries. This study adds that such a high number of deaths is largely due to a lack of early warning systems and disaster management protocols.
Using Blockchain to Store Climate Data
It has been shown that improvements in technology can help to lower the number of lives lost as a result of flooding or cyclones. Unfortunately for third world countries, their poor access to centralized data which is used to predict weather patterns means the number of lives lost due to natural disasters remains unacceptably high.
It is this sad state of affairs that prompted individuals behind the Kanda Weather Ballon project and creators of the Telos protocol to seek an unusual solution to the problem — the use of the blockchain. Already, this project is reportedly empowering African university students to utilize the Telos blockchain to offer a viable solution for the lack of real-time and historical climate data in West Africa by building an entirely community-owned balloon network.
Telos Uptime and Minimal Storage Costs
Supporters of the Kanda Weather Balloon project believe that collecting data this way will enable communities to prepare for and recover from severe weather. Therefore, to learn more about this balloon project and how the blockchain makes this type of data collection cost-effective, Bitcoin.com News reached out to Nicolas Lopez. Lopez is a former software engineer with Boeing and the current chief engineer of Kanda.
Below are Lopez’s responses to questions sent to him via email.
Bitcoin.com News (BCN): Can you briefly tell us why weather tracking is important?
Nicolas Lopez (NL): The upper air observations with in-situ sensors are important because there’s currently very little data in this regard. Weather satellites are very good at measuring values near the ground but perform poorly in the middle of the atmosphere. Most weather models need data up to 35,000 feet or so to make good predictions about rainfall and even climate.
For example, we’ve seen instances where a single weather balloon launched out of Douala, Cameroon changes the initial model state by 5+ degrees Celsius 100 miles away over southeast Nigeria. Without this data, models rely on false data assumptions and perform very poorly over West Africa in particular. We are talking with weather company Climacell.org to demonstrate how only a few launch stations can greatly impact the accuracy of rainfall forecasts.
BCN: How does this work and why Telos?
NL: We use the Telos blockchain to store the data we collect from our launches. Most weather data is already difficult to obtain due to funding constraints by NOAA and the use of outdated data repositories. We use the blockchain because it has 100% uptime and low storage costs for small amounts of data. Also, the Telos smart contract allows us to send digital currency “mining” rewards to the launcher of the balloon in real-time.
We call it “mining” because atmospheric pressure always decreases with elevation and is difficult to fake by someone on the ground… much like how bitcoin hashes cannot be faked. When the sensor measures lower pressure values, it knows the balloon has been launched and sends Telos currency accordingly.
BCN: Do you have any plans of expanding this to other parts of the continent?
NL: Telos has active communities in Kenya, Zimbabwe, and Nigeria and they are growing. Telos was recently listed on Kucoin, which is widely used in Nigeria as an off-ramp for Telos to local currencies. Right now Kanda is working with university students in Nigeria, Ghana, and Cameroon, but we want to expand to other parts of Africa like Kenya, because of the large amounts of rainfall near Lake Victoria. We think we could add a lot of value there as well.
What are your thoughts on this story? Tell us what you think in the comments section below.
Nexi, a leading European payments company, is reportedly giving advice to the European Central Bank (ECB) related to the digital euro project. The announcement was made by Nexi’s CEO Paolo Bertoluzzo, who also gave his opinion about the future of central bank digital currencies (CBDC) and cryptocurrencies during the Money 20/20 fintech conference in Amsterdam.
Nexi Advising ECB on Digital Euro Issues
Nexi, one of the biggest payments companies in Europe, is working in tandem with the European Central Bank toward the creation of a digital euro, according to statements made by Paolo Bertoluzzo, Nexi’s CEO. During an interview at the Money 20/20 conference, Bertoluzzo declared:
We are engaging with the European Central Bank and contributing to the design of the future digital euro because we believe that can be a positive force in the evolution of digital payments.
Nexi offers payments services for other banks, managing 41.3 million payment cards and 2.7 billion transactions each year, according to reports. Nexi also offers services for merchants and digital banking groups. As to the nature of the collaboration, Bertoluzzo stated:
We’re starting to talk about a new version of cash. That’s the way they think about it.
CBDCs Could Be the Future of Payments
Nexi’s position is that central bank digital currencies may be very important for the future of payments, at the same level as stablecoins. What’s important about these instruments is that they offer stability merchants and users need while making any type of payment. Bertoluzzo does not see cryptocurrencies in the same light. Nexi’s CEO believes that the volatility that makes cryptocurrencies useful as trading tools is the same element that negatively affects their usability in payments. He stressed:
They are clearly an asset class. But they fluctuate up and down on a daily basis based on the latest statement from someone in Silicon Valley.
The EU is playing catch up with countries like China, which is already well advanced in its CBDC project, a digital representation of the renminbi. The digital euro is just starting to be investigated by the ECB, according to ECB president Christine Lagarde. This investigation phase could last two years, and the development of the CBDC would start immediately after.
What do you think about Nexi advising the ECB on the design of the digital euro? Tell us in the comments section below.