Switzerland: Blockchain will “Penetrate Our Entire Economy”

Blockchain in Switzerland

Blockchain in Switzerland: It seems that blockchain technology is expected to infiltrate Switzerland’s economy even more-so. Already, the Alpine nation has been known as quite the hot-spot for all things cryptocurrency. But this time it seems that the technology behind blockchain specifically, allows for a real push in technological advancement for the nation.

Johann N. Schneider-Ammann on Blockchain in Switzerland

At the Crypto Valley Conference in Bern, Swiss Federal Councillor Johann N. Schneider-Ammann, stated:

“Hardly anyone still doubts that blockchain will penetrate our entire economy.”

A transcript from the event was published ...

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Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDs

The city of Zug, home of the Swiss Crypto Valley, will invite its residents to take part in an experimental blockchain-based vote. They are expected to share opinions on several questions of local importance, including the fireworks display during the annual Lakeside Festival and the use of digital IDs to borrow books and pay parking fees. This and other fintech and crypto-related stories from the Alpine nation and other corners of Europe are featured in today’s edition of Bitcoin in Brief.   

Also read: Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EUR

Zug Experiments with Blockchain-Based Vote

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDsAuthorities in the Swiss city of Zug plan to ask local residents to participate in a consultative blockchain-based vote this month utilizing the city’s electronic ID system. They will be able to vote via their smartphones by downloading and installing an app. The experimental vote will be held between June 25 and July 1. Citizens will be asked if they are in favor of setting alight fireworks during the annual Lakeside Festival, and whether they think digital IDs should be used to borrow books from the library, pay parking fees, and for identification on regular referendums.

According to Swissinfo, the results of the vote will be non-binding. Nevertheless, the initiative, which aims to test whether blockchain can be used on a broader scale, highlights again the positive attitude of Swiss authorities towards cryptocurrencies and the underlying technology. The canton of Zug, dubbed Switzerland’s Crypto Valley, has become home to many fintech startups and even established crypto companies like the Chinese giant Bitmain, which has opened an office there.

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDsFor some time now, Zug has been accepting cryptocurrency payments for municipal services, including company registrations using bitcoin and ether. The city introduced its eID system to provide citizens with digital access to council services. The pilot phase of the project started last fall. The system is based on blockchain technology.

New Swiss Body to Simplify Capital Markets

In another example of Switzerland’s serious approach to fintech innovations, leading representatives of the country’s financial, technological, academic and legal sectors have recently formed the new Capital Markets and Technology Association (CMTA) to facilitate the use of blockchain in financial markets. In a press release, they noted that “the blockchain technology has the potential to reduce the complexity of the capital markets system and lower the barrier of entry for startups.”

According to CMTA’s founders, the lack of legal certainty is slowing and can potentially compromise development in the field. They hope to facilitate access to funding for new businesses by defining a set of industry-supported open standards. These should ultimately contribute to value creation throughout the economy said Jacques Iffland, CMTA’s chair and partner at Lenz & Staehelin, the largest Swiss law firm.

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDs

Swissquote Bank Ltd, a leader in online banking, and Temenos, which specializes in banking software, are also behind the initiative. CMTA promises to work to create toolkits that can be used by new or established companies, businesses and startups to access funding and raise capital securely and efficiently, using new technologies and leveraging digitalization. The association is based in Geneva.

Irish Blockchain Startup Delivering Aid to Refugees Raises €1m

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDsAn Irish startup, using blockchain to facilitate the distribution of humanitarian aid, has raised an estimated €1 million from investors, according to industry sources quoted by The Irish Times. The Dublin-based Aid:tech is working in refugee camps, often in hotspots like the Middle East. On Wednesday, Enterprise Ireland and SGInnovate, the venture capital arm of the Singaporean development authority, announced simultaneous investments in the Irish company. This is the first time both state-backed organizations have allocated funds to support a blockchain business, the Irish daily notes. Amsterdam-based Blue Parasol Investments and Tin Fu Fund, a closed private equity fund managed by Shenzhen Capital Group, also took part in the funding round.

Aid:tech aims to increase transparency in the distribution of aid, welfare, remittances, donations, and healthcare services through digitizing their delivery using blockchain technology on its platform. According to the company, only a fraction of the estimated €306 billion (~$360 billion) transferred each year by non-governmental aid organizations is currently delivered via transparent systems which, the startup claims, are extremely expensive to administer. The blockchain technology employed by the Irish firm would allow all international aid to be accounted for, including the distribution of medicine, food and other essentials, the publication details.

Government-Backed Platform to Promote Ireland as a Blockchain Hub

In an attempt to highlight Ireland’s capabilities in the blockchain ecosystem, authorities in Dublin have launched a new government-backed platform. Blockchain Ireland, founded in partnership with a young company called Consensys, aims to create conditions for greater cooperation between startups working in the sector, both on national and international level. The platform was launched by the Irish Blockchain Expert Group and backed by Enterprise Ireland, the Irish Department of Finance, leading members of the country’s blockchain industry and representatives from a number of academic institutions.

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDs

The online platform is a source of useful information about the Irish blockchain ecosystem. It will be used to promote the country as a blockchain hub by highlighting the Irish technology sector and business environment which turn Ireland into an ideal location for blockchain-enabled business, Silicon Republic reports. The services it will be offering include providing information on setting up a new company and support for blockchain projects in Ireland. Its activities, however, will stretch beyond Irish borders. Blockchain Ireland will be working to develop the European and international blockchain ecosystem as well.

What are your thoughts on today’s topics in Bitcoin in Brief? Let us know in the comments below.


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Switzerland’s ‘Crypto Valley’ Set To Test Blockchain Voting

Residents of the Swiss city, Zug, will use the city’s eID system to vote using their smartphones this month as part of a blockchain based voting test, according to the Swiss Broadcasting Corporation. From June 25 to July 1, residents will download an app to register to vote. The city, home to what’s known as … Continued

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The Daily: Swiss Vote on “Sovereign Money”, Russian Banker Against Crypto Ban

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban

Swiss voters will decide this Sunday whether to turn back on fractional-reserve banking and support a “sovereign money” concept for the nation’s finances. Proponents of the initiative prescribe deeper centralization to remedy the shortcomings of the traditional financial system – a vision quite different from the decentralization that came with cryptocurrencies like bitcoin, following the 2008 global financial crisis. In today’s Bitcoin in Brief, we also cover a statement by a prominent Russian banker who warns that tight crypto regulations would hamper the development of blockchain technologies.

Also read: Bitcoin in Brief Friday: Bitpanda Offers New Coins, Microsoft Dips Data Center in the Sea

Switzerland Decides Fate of Fractional-Reserve Banking

Decentralization vs deeper centralization – the two alternative visions on how to respond to the 2008 financial crisis have been competing for attention and support in the past decade. The first strategy has been at the core of the crypto revolution. It is the remedy prescribed by both the growing global bitcoin community and the supporters of the small government/low taxes concept, like the followers of the Tea Party movement in the U.S. The proponents of the second approach have advocated granting more power and even greater responsibility to centralized financial authorities.

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban

On Sunday, June 10, Swiss voters will be asked to support “Vollgeld,” a radical reform aimed at further centralizing financial authority in the hands of the country’s central bank. On the “sovereign money” referendum, the Alpine nation will decide whether to ditch the fractional-reserve banking system, which allows banks to create money by lending far more than what they hold in deposits, Quartz reports. The proposal is to give the Swiss National Bank a monopoly over this function, while commercial banks will be required to lend only what they have.

The initiative would centralize money creation at the central bank, but also concentrate there the corresponding profits and the decisions on who should or shouldn’t receive loans. Its opponents claim that the referendum is a populist response to the previous financial crisis and warn that if it succeeds, that will lead to a new crisis and even spark Brexit-like panic in the country’s huge banking sector. This, however, is an unlikely result. The predominant expectations are that Swiss citizens will vote for more of the same, until the next crisis.

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban

In recent years, Switzerland has become a crypto-friendly jurisdiction, where many crypto businesses are headquartered or represented. The Chinese mining giant Bitmain opened a branch there, and one of Russia’s largest banks, Gazprombank, announced plans to test cryptocurrency deals in the Alpine confederation. The country has established a crypto valley in the canton of Zug and has been formally considering the possibility to issue a state-backed cryptocurrency.

Banker Warns, Tighter Crypto Regulations Will Hurt Blockchain Development

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban
German Gref (right)

A ban on cryptocurrencies on state level would endanger the development of blockchain technologies and prevent the disclosure of the full potential of digital currencies, according to German Gref, a prominent banker and former minister of economy and trade of the Russian Federation. Although he admits he does not use cryptocurrencies, Gref notes that he considers them a source of financing for the blockchain development. In April, he said the technology was still “unripe and overvalued.”

German Gref is the president of Sberbank, which is the largest bank in Russia and among the biggest in Europe. Earlier this year, reports suggested that Russia’s “savings bank” was planning to circumvent local regulations and offer clients overseas crypto-trading services.

Gref also shared his opinion that the majority of countries do not recognize cryptocurrency because of its decentralization. “No state will part with the monopoly on money issuance. Most governments believe that cryptocurrency is a property and, like any other property, must be taxable,” he said, quoted by Kommersant, a leading Russian business daily. The banker also cautioned that investing in digital assets is associated with high risks.

New Telegram Trading Bots Announced

The Intelligent Trading Foundation (ITF), a developer of an artificial intelligence-powered crypto trading assistant, has announced two new trading bots for Telegram. They will provide users with important trading signals and notifications about market opportunities.

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban The Intelligent Trading Bot, which comes with both free and premium subscriptions, sends users trading signals and suggest strategies based on technical analysis signals such as Simple Moving Average, Relative Strength Index and Ichimoku Cloud Breakout. The data covers hundreds of cryptocurrencies, offering traders valuable insight.

The other free option displays brief information about a specific cryptocurrency on request from the members of a Telegram Group that has enabled the service. The Intelligent Trading Infobot can be added to any group in the messenger, and will offer current price and trading volume data, as well as the latest trading alerts for hundreds of coins and pairs on three crypto exchanges.

What are your thoughts on today’s Bitcoin in Brief topics? Tells in the comments section below.


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Switzerland Shows the Way: Bank First to Offer Crypto Business Accounts

Switzerland Shows the Way: Bank First to Offer Crypto Business Accounts

Switzerland’s legacy bank, Hypothekarbank Lenzburg, announced this week it was accepting cryptocurrency related businesses as account holders, something many legacy financial institutions outright refuse. Long viewed as a progressive society way ahead of its time, the Swiss are once again leading, … this time it’s doing so in the crypto revolution.

Also read: Fidelity Investments Hints at Entering Cryptocurrency Exchange Space

150 Year Old Bank in Switzerland Opens to Crypto Businesses

Switzerland’s mortgage bank Hypothekarbank Lenzburg CEO Marianne Wildi explained, “As a bank that sets itself up technologically and pursues a cooperative strategy in the field of fintech, it is also a matter of credibility to work together with the young sector of crypto and blockchain companies in Switzerland.” Its earliest iteration can be traced back 150 years, and has since morphed into a mortgage, retail, and a private banking services provider, acting locally while being publicly listed.

Switzerland Shows the Way: Bank First to Offer Crypto Business Accounts
Hypothekarbank Lenzburg CEO Marianne Wildi

The Swiss were among the earliest to really see crypto’s potential, becoming a mecca for those interested in the technology and incubating startups along the way. As a rival to the US’s Silicon Valley, an area in Zug has been deemed Crypto Valley for its broad enthusiasm of the phenomenon. Even so, in announcing its new policy Hypothekarbank Lenzburg is the country’s first bank to welcome crypto businesses.

Regional media quoted Ms. Wildi as explaining how much thought went into changing their policy, suggesting guidance came from the country’s relatively permissive regulator, the Financial Market Supervisory Authority (FINMA). In perhaps in an effort to assuage board members’ fears, she also was sure to the extensive vetting that goes into accepting crypto businesses as clients.

Could be a Trend

Prior to Hypothekarbank going all in, the financial community dabbled along the edges of crypto-related business support. Falcon Private Bank, for example, made headlines last year by vaguely interacting with “crypto asset management.” Bank Frick of Liechtenstein continues to offer to its customers cold storage and top coin access such as bitcoin cash, bitcoin core, litecoin, ether, and ripple.Switzerland Shows the Way: Bank First to Offer Crypto Business Accounts

Ms. Wildi elaborated on just how their new police would shake out, more or less handing over the task to contractor Geissbühler, Weber & Partner AG. “They already have a lot of cryptographic know-how and analyze customer inquiries about the legal consequences and backgrounds,” she assured. “After due diligence they give us a recommendation, and the decision then follows. It’s true that the customer review process is more involved in such relationships, but it does not make any difference to other customer relationships insofar as compliance processes have to work flawlessly anyway.”

Do you think more countries will follow Switzerland’s lead? Let us know in the comments. 


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Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

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Russian Railways Eyes Crypto for Tickets, Blockchain for Cargo

Russian Railways Eyes Crypto for Tickets, Blockchain for Cargo

Russian railway company RZD may turn out to be a state-owned giant that does not shy away from technological advances brought about by cryptocurrencies like bitcoin. According to media reports, Russian Railways is planning to implement blockchain applications, smart contracts and ticket sales in crypto. Both company officials and independent experts have spoken about the advantages for logistics and transportation services.

Also read: Russian Duma Adopts Three Crypto Bills on First Reading

RZD Aims at 5,000 Smart Contracts a Month

According to several publications in recent months and this week, the huge state-run enterprise is seriously considering to embrace crypto-related applications such as smart contracts and blockchain technologies, and may even start selling tickets for cryptocurrency. Russian Railways, which is proudly calling itself “The Strongest Link in Eurasia,” is ranking among the top three railway systems in the world. The adoption of these innovations by RZD would be a strong boost for the Russian crypto sector.

Russian Railways Eyes Crypto for Tickets, Blockchain for Cargo

What stands in the way is the lack of regulations, a situation that is about to change soon. The State Duma, the lower house of Russia’s parliament, has supported on first reading three draft laws aimed at legalizing the crypto industry in the country. The bills – “On Digital Financial Assets,” “On Attracting Investments Using Investment Platforms” and “On Digital Rights” – hit the house floor last week and should be adopted by the end of June.

“In view of the forthcoming adoption of the drafts, which entail the possibility to exchange digital financial assets with rubles and [foreign] currencies, OAO ‘RZD’ plans to introduce decentralized storage of data based on blockchain technology and implement ‘smart contracts’,” said Pavel Tarentyev, an independent IT expert. Speaking to Fedpress, he explained that this could lead to full automation of RZD’s contractual relations and fulfillment of contract terms using cryptocurrency. Russian Railways intends to issue up to 5,000 smart contracts a month, he added.

Introducing Crypto Payments

Introducing Crypto PaymentsPavel Tarentyev also said that in the future transactions related to passenger travel can be processed through cryptocurrency, as an alternative to traditional payment methods, like cash and electronic transfers. Crypto payments and the decentralized data storage would provide anonymity to passengers and their travel plans, he noted. RZD also hopes to use blockchain technology to store important information related to cargo transportation and significantly reduce the cost of its logistic services.

Earlier statements by company officials indicate these are serious plans. In March, the head of RZD’s IT department, Evgeniy Charkin, said that Russian Railways intends to implement blockchain technology, smart contracts and start using cryptocurrency in its accounting after the relevant legislation is adopted. And, according to Director General Oleg Belozerov, the company is already digitizing many processes. During the Gaidar Forum in January, he expressed hope that the implementation of blockchain technologies would ensure cheaper transportation.

Railways Going the Crypto Way

RZD is not the only railway company fascinated by the ongoing crypto revolution. The fully state-owned Swiss Federal Railways has been selling cryptocurrency to its passengers for almost two years now. Bitcoin can be bought at any of its 1,000 ticket vending machines. Schweizerische Bundesbahnen is providing the service in partnership with Sweepay, a company based in the canton of Zug, dubbed the crypto valley of Switzerland. SBB offers “simple top-ups at ticket machines using QR codes” for any amount between 50 and 500 CHF, and even informs travelers on its website about locations accepting bitcoin.

Introducing Crypto Payments

When the service was launched in 2016, passengers were not able to obtain tickets with cryptocurrency, as news.Bitcoin.com reported. Unfortunately, bitcoin is not among the available payment options yet. However, thanks to platforms like Destinia, train tickets are already sold for crypto around the world, regardless of whether railway companies accept digital coins or not. Destinia currently offers tickets for the railway systems of Spain, Italy, Belgium, Luxembourg, the Netherlands, the UK, France, Portugal, Canada, and the US. That includes companies like Renfe and Amtrak.

Have you purchased train tickets with cryptocurrency? Share your thoughts on the subject in the comments below.


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Bitcoin’s Chance at the $20 Trillion Offshore Tax Haven Market

In polite pockets of society, acceptable and positive crypto talk revolves around its amazing tech and what the future might hold. At least one bitcoiner has tossed aside such niceties, and examined the world’s most popular cryptocurrency as a potential offshore tax avoidance haven. Depending on the study, as much as $20 trillion is hidden away from government tax farmers. However, loopholes are closing as lawmakers discover them, perhaps creating just the use case bitcoin needs to thrive in the near future.

Also read: DOJ Crypto Investigation Tanks Prices, Fundstrat Welcomes Adult Supervision

Can Bitcoin Get a Slice of the $20 Trillion Tax Avoidance Market?

Treasure Islands author Nicholas Shaxson explained what he imagines to be a queer phenomenon. “Governments were short of revenue and seeking new sources; there was huge public anger at bailouts and banking is at the center of the offshore system; and there were rising concerns about inequality when offshore is an inequality machine,” he told The Christian Science Monitor.

Not quite a decade ago, the US in particular used terrorism as a pretext to force notorious Swiss bank accounts to release information on tens of thousands of American customers. Soon after, the Organization for Economic Cooperation and Development urged global standards in this regard. From there, the G20 picked up the cause, and by last year implemented a system of instant accountability between nations and their respective tax authorities.    

Bitcoin's Chance at the $20 Trillion Offshore Tax Haven Market

John Christensen of the Tax Justice Network put it succinctly, “‘Bit by bit, international standards are being created. This is all being extended in the direction’ of secretive jurisdictions such as Switzerland. But activists and journalists investigating fraud, kleptocracy, embezzlement and other financial crimes ‘hit a brick wall when we can’t establish the ownership of a company.’”

“Bitcoin throws a wrench into the traditional monetary system,” sometime bitcoin maximalist @dantwany posted on Medium recently. His assertion is how “parallels exist between traditional tax havens used by the wealthy and Bitcoin,” in an effort to get a “better idea if it will be seen in the future as more of an alternative to the financial system altogether, or play a part in offshore banking services.”

Bitcoin Isn’t Just for the Rich

Tax havens are typically thought to be financial playgrounds of the uber rich. @dantwany details how now “Bitcoin may open the playing field for ordinary citizens who normally could not afford this luxury.” Indeed, “the fact that ordinary citizens are not effectively barred from entry into Bitcoin like in offshore banking makes it likely the potential market may be much larger than current estimates,” though he admits there is scant evidence this is actually happening.  

For his purposes, offshore “tax havens have the following four attributes: 1) No or low effective tax rates. 2) No need to generate substantial economic activity in the location to gain tax benefits. 3) Lack of mandated transparency with regards to customer details and other lenient laws that govern financial dealings. 4) A lack of exchange of information.”

Bitcoin's Chance at the $20 Trillion Offshore Tax Haven Market

He notes how mainstream havens have become, including legacy institutions using oasis/shelter systems. He cites approvingly Jim Omartian in his Panama Papers article, “Do Banks Aid and Abet Asset Concealment,” suggesting for “investors residing in countries with weak property rights, using an offshore entity may prevent government expropriation. Investors buying property or acquiring a firm may want to conceal their identity from the counterpart for an edge in negotiations.”

Bitcoin can be sought for a variety of reasons in the above case: secrecy, of course, and lack of confidence in the integrity of domestic banking institutions. And just as the US bullied its way into Swiss financial arrangements, Americans began closing their accounts in a rush, proving capital will go where it’s treated the best. The Panama Papers affair seems to reveal an economic truism, “when one tax evasion method becomes difficult, it is simply supplanted by another alternative. As data collection improves and more leaks like the Panama Papers continue, there will be no alternative but to turn to encryption and decentralized networks like Bitcoin for true privacy,” @dantwany boldly asserted.

Crackdowns Might Push More Bitcoin Adoption Through Decentralized Exchanges

This year just might see crackdowns push more people toward bitcoin, especially as legal schemes such as the Automatic Exchange of Information take hold. European Union countries in 2018 will exchange customers’ financial information as a matter of course. All over the world, governments are beginning to see what could be around the corner for tax havens. Crypto miners are regularly hectored from Venezuela to Argentina in an effort to slow the phenomenon, to varying degrees of success. Russia is busy passing crypto tracking laws. China famously went after exchanges, only to force trade underground with more peer-to-peer services such as Localbitcoins filling the vacuum.

Bitcoin's Chance at the $20 Trillion Offshore Tax Haven Market

With an eye toward skepticism, @dantwany writes how it does seem “doubtful that Bitcoin can capture all the money currently in tax havens.”  However, those who are stuck in countries where private property rights in particular are less than secure, there “is certainly a case where Bitcoin can find a use and it seems likely that it will tap into this market, if it is not already doing so. In the near future, it may become very possible to use Bitcoin on decentralized exchanges to buy a wide variety of tokenized securities and assets. Using this method, the buyer will be in complete control of the assets they are trading in an anonymous manner.”

He’s also keen to watch where autocrats go, where they put their ill-gotten gains, suggesting as “public backlash, leaks, and political turmoil increase, it seems very likely that even the autocrats themselves may have to turn to alternatives like Bitcoin to conceal and keep their wealth, at the very least as a hedge. It seems inevitable and a matter of when, not if that a percentage of the wealth held in tax havens begins to flow into Bitcoin and the cryptocurrency economy.”

Is crypto the future of tax shelters and havens? Let us know in the comments. 


Images via the Pixabay, Twitter.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com

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PR: Particl Releases Their Privacy Focused Decentralized Marketplace

Particl Releases Their Privacy Focused Decentralized Marketplace

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Zug, Switzerland – Particl, an open-source project building privacy focused decentralized applications, has released the Alpha MVP version of their Particl Marketplace – a disruptive way to buy and sell goods online. Released May 31st, 2018, the marketplace is a new featured application within the project’s flagship application, Particl Desktop.

Particl’s decentralized marketplace is private by design and is a highly scalable and secure solution for e-commerce. Built to be a trustless solution – in a sea of online shopping sites with go-between intermediaries and fees – that has privacy at its core instead of as an after thought.

The Alpha release of Particl Marketplace is a minimal viable product (MVP) that showcases simple steps for shoppers and vendors to transact in a truly peer-to-peer (P2P) setting without any third-party interaction. Even the Particl escrow solution is only between a buyer and seller, which is controlled by a multi-signature contract instead of a moderator like competing decentralized marketplaces.

Future releases of the Particl Marketplace will transition from testnet to mainnet as features such as Governance, more cryptocurrencies, ratings, reviews and Ring Confidential Transactions (RingCT) get designed into the platform. PART, the native privacy coin of Particl, is the only coin built on Bitcoin’s latest codebase (0.16) to use Confidential Transactions to obfuscate transaction amounts.

The team’s implementation of RingCT is currently being reviewed thanks to a grant to the New Jersey Institute of Technology (NJIT). Ultimately, all transactions running through the Particl privacy platform, including the Particl Marketplace, will leverage RingCT to provide the highest level of privacy to both shoppers and vendors.

Also expected in a future Beta release of Particl Marketplace is a Governance system that gives full, decentralized control to the users of the platform. Not yet implemented, this is one of the main differences between Alpha and Beta. While neither the Particl team nor the Particl Foundation currently has any control to remove listings or vendors on the marketplace, the testing environment allows a reboot option if necessary. Once on mainnet, a decentralized, self-governing mechanism will be in place to allow users to report, vote on and kick off any bad actors abusing the Particl Marketplace.

About Particl
Particl is a decentralized platform with a native suite of tools to enhance and protect your online privacy. Still less than one year old, Particl has added a number of firsts to the protocol’s basecode (Bitcoin 0.16). These include Confidential Transactions, Ring Confidential Transactions and PoS Cold Staking where all coins are safely stored offline while dedicated online staking nodes – which hold no PART – work on their behalf within a multi-signature contract. Particl Marketplace is the project’s MVP and is private by design.

Contact Email Address
paul@particl.io
Supporting Link
https://particl.io

This is a paid 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.

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PR: Patientory Stiftung Joins the Enterprise Ethereum Alliance

Patientory Stiftung Joins the Enterprise Ethereum Alliance

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Zug, Switzerland – Patientory Stiftung, a Swiss-based global nonprofit healthcare organization founded to educate and connect adopters of PTOY blockchain, a HIPAA-compliant blockchain that securely stores and manages health information in real time, today announced that it has joined the Enterprise Ethereum Alliance (EEA), the world’s largest open source blockchain initiative.

As a member of the EEA, Patientory Stiftung will collaborate with industry leaders in pursuit of ethereum-based enterprise technology best practices, open standards, and open-source reference architectures. Patientory Stiftung brings these industry leaders together at its Inaugural Blockchain in Healthcare Summit – North America on May 31, 2018. At that time it will also launch and make available the private, permissioned blockchain testnet network, PTOYNet.

“Patientory Stiftung foresees an exciting future for blockchain in the healthcare industry and is thrilled to merge the benefits of the EEA and its other members with what will happen next,” said Mohsen Shafaei, Managing Director of the Patientory Stiftung. “The EEA’s resources will play an integral role in making our vision a reality and we look forward to learning about Ethereum and leveraging its technology to benefit everyone.”

With more than 500 member companies, the EEA membership base represents a wide variety of business sectors from every region of the world, including technology, banking, government, healthcare, energy, pharmaceuticals, marketing, and insurance. The EEA’s industry-focused, member-driven working groups are each tasked with creating and delivering specific advancements to the development and use of ethereum-based technologies.

About The Enterprise Ethereum Alliance
The EEA is an industry-supported, not-for-profit established to build, promote, and broadly support Ethereum-based technology best practices, open standards, and open-source reference architectures. The EEA is helping to evolve Ethereum into an enterprise-grade technology, providing research and development in a range of areas, including privacy, confidentiality, scalability, and security. The EEA is also investigating hybrid architectures that span both permissioned and public Ethereum networks as well as industry-specific application layer working groups.

EEA will collectively develop open industry standards and facilitate collaboration with its member base and is open to any members of the Ethereum community who wish to participate. This open-source framework will enable the mass adoption at a depth and breadth otherwise unachievable in individual corporate silos and provide insight into the future of scalability, privacy, and confidentiality of the public Ethereum permissionless network. For additional information about joining EEA, please reach out to membership@entethalliance.org or visit www.entethalliance.org.

About Patientory Stiftung
The Patientory Stiftung, a global nonprofit healthcare blockchain organization connects healthcare industry adopters of the PTOY blockchain. The PTOY blockchain securely stores and manages health information in real time, and such storage and management is facilitated by a blockchain based token (called “PTOY”). The Patientory Stiftung facilitates the development of standards that are essential to the implementation and adoption of the PTOY platform and token in securely protecting and managing healthcare information. Such standards are necessary for interoperability and auditability and for transparency purposes. These activities will help ensure the safety, reliability and usability of the use of the PTOY platform by its members and the general public, a prerequisite to the wide acceptance of the PTOY platform as a viable means of transacting business by the public and the acceptance of the industry as a whole. To learn more, visit www.ptoy.org.

Contact Email Address
nk@kasakmedia.com
Supporting Link
https://ptoy.org/inaugural2018/

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