Taiwanese legislators launch parliamentary blockchain alliance to develop the emerging sector
Cryptocurrency enthusiasts take security and storage seriously, and there are a bunch of different hardware solutions out there. One startup has released a different kind of digital asset hardware wallet that is the same size and shape as a credit card. Due to the design of the new ‘Coolwallet S,’ the wallet can be hidden very easily alongside the option of being carried effortlessly in your back pocket.
The Credit Card Size and Shaped Coolwallet S Cryptocurrency Hardware Wallet
Coolbitx is a Taiwanese financial-tech company founded by Michael Ou in 2014 that creates digital asset hardware wallets as well as smart contract development platforms. Back then the wallet creators started an Indiegogo campaign featuring the credit card shaped hardware wallet that allowed the secure storage of bitcoin private keys. During the Indiegogo campaign, the team raised $21,686 USD through 184 backers, 108 percent of their goal. Moreover, the startup Coolbitx is backed by firms such as Bitmain Technologies, SBI Holdings, Kyber Capital, Midana Capital, and more.
Basically, the Coolwallet S is the size of a traditional credit card at roughly 85.60 × 53.98 mm with rounded corners. It has a display on the upper left side which shows the wallet’s data like sending and balances. The creators of the Coolwallet S device claim that cryptocurrencies are held in an isolated offline environment and the card’s tactile button ensures an owner’s two-factor authentication process. The Coolwallet S holds five popular digital assets such as Ethereum (ETH), Bitcoin Core (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), and an assortment of ERC-20 tokens.
Coolwallet is NFC & Bluetooth Compatible and Also Works With Mobile Phones
The wallet developers have made the card flexible, waterproof, and fire resistant as well. The Coolwallet S syncs data via encrypted Bluetooth technology and its NFC (Near Field Communication) charger powers the device with its own power dock. Moreover, the new Coolwallet S can be tethered to a mobile application for Android and iOS devices.
“Keep it private, keep it safe, keep it Cool,” says the Coolbitx developers.
Have total, end-to-end control over your cryptocurrency with an EAL5+ certified Secure Element microchip on a tamper-proof physical device.
The Coolwallet S is a bit more expensive compared to other hardware wallets on the market like Keepkey, Digital Bitbox, Trezor, and Ledger. The Coolwallet S costs $189 but users can purchase a ‘Duo’ package for $299. One thing we noticed when proceeding to the checkout is the wallet has to be purchased with a credit card, as there was no option to pay for this product with a cryptocurrency. This post will be followed up with a step-by-step review of the Coolwallet S as soon as our device arrives.
What do you think about the Coolwallet S hardware wallet? Let us know what you think about this device in the comments below.
Disclaimer: Bitcoin.com does not endorse this product/service. Readers should do their own due diligence before taking any actions related to the mentioned 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 this article.
Images via the Coolwallet.io website and Pixabay.
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The post A Look at the Credit Card Shaped Hardware Device Called ‘Coolwallet’ appeared first on Bitcoin News.
A Japanese government-approved cryptocurrency exchange has resumed expanding overseas. Already operating in five countries with a plan to launch in more in the near future, the exchange aims to construct a global network of crypto transactions.
Building Global Network
Bitpoint Japan was among the first crypto exchanges to be fully licensed by the Japanese Financial Services Agency (FSA). It is a subsidiary of Remixpoint (3825.T), a listed company on the Tokyo Stock Exchange.
Bitpoint has started a new round of expansion overseas, after entering a few countries last year. The company announced on Thursday that its Malaysian exchange has begun operations.
The Kuala Lumpur-based Bitpoint Malaysia opened its doors on May 17, offering spot trading and leverage trading. The fee for spot trading is 0.5% while leverage trading carries no fee. Deposits and withdrawals in Malaysian Ringgit are free during the grand opening. The exchange wrote:
We offer leverage of 2, 5, 10 and 25 times.
Five cryptocurrencies are supported: BTC, ETH, BCH, LTC, and XRP. Bitpoint Japan says it “will support Bitpoint Malaysia as a system and liquidity provider.”
In addition to Malaysia and Japan, Bitpoint is also operating in South Korea, Taiwan, and Hong Kong. The exchange also opened an office in China in July last year before the Chinese government shut down all crypto exchanges in the country.
In addition, the exchange is reportedly preparing to enter Singapore, Thailand, and other Asian markets in the near future. Bitpoint detailed:
By continuing to provide overseas exchanges using the Bitpoint system in the future, we will continue to realize the construction of a global network of virtual currency transactions.
Tougher Rules and Competition in Japan
Since the hack of Coincheck, one of the most popular crypto exchanges in Japan, the FSA has tightened its cryptocurrency oversight. The country still has 16 fully-licensed crypto exchanges, which have recently formed an association to focus on self-regulation in an effort to rebuild public trust in the crypto industry.
However, out of the 16 “deemed dealers,” which are those allowed to operate while their applications are being reviewed by the FSA, only 8 remain. The agency recently revealed that the other 8 have indicated that they are withdrawing their applications.
Meanwhile, the agency confirmed that over 100 companies are seeking to enter the space, including Yahoo! Japan and Line Corp, which operates the popular chat app Line.
What do you think of Bitpoint’s global expansion plans? Let us know in the comments section below.
Images courtesy of Shutterstock and Bitpoint.
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The post Japanese Crypto Exchange Continues Global Expansion – Now in Five Countries appeared first on Bitcoin News.
The Taipei Fubon Commercial Bank, a private commercial Taiwanese bank, has reportedly launched a blockchain-powered payments system for retail usage, a first in the country. According to a local report by the Taipei Times, the private-sector bank announced the deployment of the payment system for local restaurants and merchants on Sunday after commencing development of
The post Taiwan Bank Deploys Ethereum-Based Blockchain Payments System appeared first on CCN
Taiwanese Taipei Fubon Bank has reportedly become the first bank in the country to deploy a blockchain payment system
Taiwan’s Minister of Justice has indicated that the country is anticipating to have implemented a regulatory apparatus for cryptocurrencies by November 2018. The Minister made comments revealing the expected deadline during a recent anti-money laundering conference.
Cryptocurrency Regulations Expected to be Enacted in Taiwan Before 2019
High-ranking Taiwanese officials have indicated that the country intends to develop and introduce a legislative framework for cryptocurrencies by November this year.
The announcement was made by Taiwan’s Minister of Justice, Qiu Taisan, whilst speaking at a conference dedicated to money laundering prevention in the financial services industry, which was held by The Taiwan Financial Services Coalition.
Mr. Taisan indicated that cryptocurrency and bitcoin are increasingly being seen as a subject of considerable concern. Mr. Taisan also revealed Taiwan’s Financial Supervisory Commission (FSC) will be tasked with developing the country’s regulatory apparatus for virtual currencies, with consultation and assistance expected to be provided by Taiwan’s Ministry of the Interior, Central Bank, and the Investigation Bureau.
Money Laundering Among Chief Concerns
At the event, Gu Lixiong, Taiwan’s Chairman of the Financial Supervision and Management Commission indicated that preventing cryptocurrencies from becoming a vehicle for money laundering is among the principal objectives of the coming regulations, citing its pseudonymous nature as posing significant challenges to authorities.
Mr. Taisan also revealed that on April 10th, Taiwan’s Legal Department had invited representatives of two domestic cryptocurrency exchange operators to provide consultation regarding the operational processes underpinning virtual currency trade.
Taiwanese Legislator Calls for Regulatory Clarity
Yu Wanju, a Democratic Progressive Party member of the Legislative Yuan, has posted on Facebook demanding clarity from Taiwan’s FSC regarding its stance on bitcoin and cryptocurrency.
Mrs. Wanju implored the FSC to clarify as to whether or not bitcoin-relate financial activities are legal in Taiwan, emphasizing that failing to do so may prevent the country from being competitive in attracting investment from major companies operating within the emerging cryptocurrency sector. According to a rough translation, Mrs. Wanjua stated: “In order to attract top international companies and foreign capital to reinvigorate Taiwan’s economy, the most pressing matter of the moment is to set up a clear legal framework and get rid of the uncertainty.”
Late last year, the chairman of the FSC, Wellington Koo, confirmed that Taiwan would not follow China’s footsteps in pursuing a prohibitive regulatory apparatus pertaining to cryptocurrencies.
Do you think that Taiwan will seek to position itself as an attractive destination for cryptocurrency businesses? Share your thoughts in the comments section below!
Images courtesy of Shutterstock
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Japan’s SBI Holdings has invested in regulated ICO platform Templum, after earlier this year buying into a Taiwanese hardware wallet #NEWS
Taiwan’s Minister of Justice, Qiu Taisan, has called for cryptocurrency regulations to be in place by November in the interest of preventing money laundering. Qui Taisan said the country’s Ministry of Interior, the Central Bank, the Bureau of Investigation and other entities will be involved in determining how to regulate bitcoin. Qui Taisan was interviewed … Continued
The post Taiwan Aims to Enforce Cryptocurrency Regulations by November appeared first on CCN
Global chip manufacturing giant attributes lower 2H18 revenue forecast in part to changing cryptocurrency mining landscape. #NEWS
Yi-Ting Cheng, CEO of crypto exchange OTCBTC, will run for mayor of Taiwan’s capital city. #NEWS
Bitcoin in Brief for Wednesday is a potpourri of quickies to get your day going: Pornhub, a website we’ve never heard of, has joined the crypto revolution (well, Verge at least); South Korea’s loss is Switzerland’s gain; bitcoin blamed for every crime under the sun; Ethereum’s Vitalik Buterin is accused of favoritism; and bitcoin cash (BCH) is getting a ton of love from CNBC’s Brian Kelly.
Also read: Bitcoin in Brief Tuesday: The Tax Man Effect
We’ve Never Heard of Pornhub, What’s Pornhub?
“The adult entertainment titan has announced it will now accept payments in anonymous cryptocurrency Verge (XVG),” according to Hard Fork. “This means now you now have the option to pay for your premium subscription without leaving any trails.”
Pornhub’s VP explained, “Here at Pornhub, we’re all about convenience and security, which makes cryptocurrency an attractive form of payment for us. We’ve been looking at crypto for quite some time and, while overall adoption is relatively low, we think it has gained enough steam for us to penetrate the market.” Dirty birds.
As South Korea Clamps Down, Foreign Markets Pick up Slack
The funny thing about cryptocurrency is, a government arrogant enough to believe it can regulate mathematics probably also won’t understand how they’re essentially robbing themselves of commerce. If the people want crypto, there’s going to be a steady supply to meet that demand.
Reuters reports, “Six months after South Korea banned the issuance of new cryptocurrencies, they are starting to creep back into the country by using overseas listings for local trading,” as initial coin offerings (ICO), which the country banned outright, have been popping up geared at the South Korean investor. Switzerland is there to help.
Of Course, Before Crypto, Crimes Were Never Committed With Fiat
Since its inception, cryptocurrency has been a target of mainstream media outlets. They constantly, maybe unknowingly, undermine it by linking all ills to bitcoin (usually). In Taiwan, it appears gangsters looking for a fast buck in crypto won’t take any excuses, even if your home country (China) bans the practice outright. They’ll shoot you, and then turn themselves in later.
“Vitalik on Brink of Second Bailout for Friends”
Accusations abound on the Twittersphere about how Ethereum’s guru has taken to a kind of bailout, citing a Tweet claiming, “And.. EIP867 titled ‘Standardized #Ethereum Recovery Proposals’ is now merged in. The frozen parity funds from 2017 are 1 step closer to being bailed out,” leading to charges of centralization and favoritism.
Defenders chimed in, “To call it a bailout is intellectually dishonest. There was a bug, funds got stuck. A software engineer will find a way to resolve the problem, rather than claim it’s a feature and ignore the people the code is supposed to serve. Choose to be an engineer first, not a politician.”
Mr. Buterin himself shot back, “To say that Vitalik is on the brink of being okay with it is also incredibly intellectually dishonest.”
Ripple in Peace
A sad, curious statement was released, detailing how “Billionaire Matthew Mellon, 53, died suddenly in Cancun, Mexico, where he was attending a drug rehabilitation facility. Mellon made his fortune in cryptocurrency, turning a $2 million investment into $1 billion. He is survived by his three children, Force, Olympia and Minty. The family asks that their privacy be respected at this very painful time.”
Fox News is reporting Mr. Mellon, an early Ripple booster, explained two years ago “‘OxyContin is like legal heroin. And it needs to be addressed,’ while at a Malibu treatment center kicking a habit of $100,000 a month.”
Now That is a Great Point
Regarding the ongoing Facebook privacy problem, Leo Weese has put it best: “Amazing how people suddenly realize they don’t own their data on Facebook. Let’s see how they react when they find out they don’t own the money in their bank accounts either!”
And in related news, New York Times’ Nathaniel Popper is reporting Cambridge Analytica was looking into their own crypto coin along with an initial coin offering (ICO) prior to the Facebook-related scandal breaking.
Bitcoin Cash Getting Love from CNBC, Zimbabwe, and Free Stickers!
Fast Money’s Brian Kelly is signalling a strong buy for bitcoin cash (BCH). He’s claiming to rely on “technical indicators” that show BCH poised for a potential breakout and increasing volume. With increasing volumes, traders are keen to see “something” happen in a positive direction for the digital asset.
We reported Zimbabwe’s latest crypto acquisition, an ATM, and it appears now the owner has activated bitcoin cash to go along with bitcoin core. Hopefully, these alternatives serve as a currency oasis in a pretty dry market.
Finally, bitcoin cash enthusiast Bittburger announced BCH stickers for those who’d like to help spread the word about the best form of money ever devised. Free!
Do you think bitcoin cash is poised for a price breakout? Let us know in the comments section below.
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The post Bitcoin in Brief Wednesday: Pornhub? We’ve Never Heard of Pornhub appeared first on Bitcoin News.
Hacker. Educator. Successful businesswoman. Yi-Ting Cheng, better known as Xdite, shocked the broader cryptocurrency world when she announced her campaign for Mayor of Taipei City, the capital of Taiwan. The native of China is taking a big risk by offering herself up for political leadership, but, then again, as her exclusive interview with Humans of Bitcoin examines, she’s all about challenging herself.
Also read: Bitcoin in Brief Tuesday: The Tax Man Effect
Xdite Runs for Mayor of Taipei City
In a recent Facebook post, Xdite explains, “Most politicians [in Taipei City] have very little understanding of technology. So it’s really hard to make things happen by pushing them.” For this and many other reasons, she’s decided to throw her hat in the ring to help bring the capital city she loves of nearly 3 million people a young and forward-looking government.
“I am not losing my mind,” she assures admirers, “I am running for mayor for one reason: to make Taipei great again. Let’s make Taipei the pioneer blockchain city in Asia. Taipei has great potential to be a blockchain city. It is near Japan, Korea, and China. It is regulation friendly. Blockchain is all about a financial revolution. Taipei has the environment to make it happen.”
And Xdite should know. Her background reads: owner and CEO of OTCBTC, the largest crypto exchange of its kind in Asia; “former CTO of ico.info, the largest ICO platform in the world. I have very deep knowledge of the ICO economy / operation / design.I am experienced in the Ed-Tech space. I used to run the world’s largest online coding camp (500 people participated in the first phase and we had a retention rate of 40 percent). I have over 10 years experience as a developer. I founded and maintained several large scale internet products. On top of that, I am very good at solving real world problem using internet products. I won the Global Grand Prize at the 2012 Hackathon hosted by Facebook.”
All by itself, such a resume would turn heads, but given she is only 35 years old it adds to her legend. “Taipei used to be a very advanced city,” Xdite stresses, “But after 20 years things have stagnated and the law became outdated. The political figures remain the same, but the economy is not that good. As an entrepreneur, we hope all politicians can listen to us; To make it startup-friendly. Even to understand the industry a little bit. At the very least, don’t create roadblocks for future innovation! Those that truly understand the importance of technology have little money and/or influence. Or maybe they just want to stay out of trouble.”
Bitcoin’s Renaissance Woman
Xdite describes the political climate as “8 candidates running for mayor, most of them are nearly 60 years old or older than 70. None of them know what’s going on in the world, nor what challenges or competition we face. I always wanted a mayor who understands how business works. Let this city become an innovation hub; a truly revolutionary city. This person needs to have the money, the guts, the passion, and experience running a team/company I couldn’t find one, so I decide to run.”
In its most recent episode, Humans of Bitcoin, host Matt Aaron describes Xdite as one of the most interesting interviewees he’s encountered. He probes “Bitcoin’s Renaissance Woman”, discussing her childhood spent in the 80s surrounded by electronics. In college, having majored in applied mathematics, a professor noticed Xdite’s acumen and proficiency around computers. It wasn’t long before she was in charge of it all, creating a cushy IT job for herself in the process.
She continued to push herself, especially once she realized there is a great, big world out there to explore, and leaves college to start a variety of businesses. Along the way she taught herself computer programming languages, and became so proficient that demand for her classes became an overwhelming success.
Xdite ventures into the business world by doing, by seeing problems that need to be solved or at least addressed. In an effort to not provide too many more spoilers, it’s safe to write her eventual commercial and financial success is, well, unbelievable (seriously, your mouth is going to drop). This brings out inevitable Chinese government minders, who for a time forced her from her native country, China, into the waiting digital arms of Taiwan. Fortunately for the island, now she looks to take her years of go-getter attitude and futurism into the Mayor’s office.
Should more bitcoiners get involved in the political process? Let us know in the comments section below.
Images courtesy of Shutterstock. Special thanks to Cindy Wang for sourcing.
Need to calculate your bitcoin holdings? Check our tools section.
Taiwan’s newspaper, Liberty Times Net, has reported that two people shot a bitcoin miner when he refused to fulfill their original contract. Suspects Gao Qitang and Chen Yumin shot Wu Nan (nicknamed “milk”) at the Longhua Hall in Banqiao, New Taipei City on Apr. 14. Under their agreement, Gao and Chen, both members of the ‘Freshwater gang’, raised
The post Taiwanese Gangsters Shoot Bitcoin Miner, Who Blames China’s Crackdown appeared first on CCN
A Taiwanese miner allegedly failed to pay two gangster customers due to mainland China’s Bitcoin policy. #NEWS