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SEC Target: TechCrunch Founder’s Fund

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Michael Arrington from TechCrunch has received a subpoena from the SEC for its crypto fund.

SEC: TechCrunch’s Arrington’s Fund

Arrington recently told CNBC that while it’s true that his Arrington XRP Capital fund received a subpoena, “every fund I’ve talked to has received one.”

Emphasizing his willingness to comply with crypto-specific regulations, should they be introduced, Arrington continued:

“That’s fine. They [the SEC] just have to figure out what they want. They need to set up rules so we can all follow them, and the market is begging them for that.”

Patrick Byrne, CEO of Overstock said he “actually supports” the crypto enquiries overall, adding:

“The more of a regulatory spotlight they bring, the better we look.”

Arrington stated that the lack of clarity from the SEC on cryptocurrency regulations has eventually led to US-based crypto projects moving outside of the country, which is a “shame”, according to him:

“The U.S. has just frozen itself.”

Jason Gottlieb, a partner at law firm Morrison Cohen representing PlexCorps said:

“Clearly it’s a coordinated, grand investigation. I would expect it’s going to continue throughout this year.”

Cryptocurrencies

Digitize Coin Token Sale Interview

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The  TechBullion recently sat down with Umer Aslam, the CEO of Digitize Coin, a new Blockchain innovation that helps its users to instantly digitize loose change and cash into digital currency. In the interview he talks about the token sale and how his innovation takes place in the crypto community.

Interview: Umer Aslam

1) Could you please tell us your name and about yourself?

My name is Umer Aslam, Founder and CEO of Digitize Coin. I am a massive fan of cryptocurrency, and believe the world needs to capitalize on Blockchain technology. I have worked predominantly in the IT industry within my career, having over 6 years of experience within the project management industry. My most recent role was working for IBM as a portfolio manager, where I managed large infrastructure projects for enterprise clients.

2) What is  Digitizecoin and what is the technology behind it?

Digitize is an upcoming ICOwhich lets you digitize loose change and spare cash to cryptocurrency, Instantly. The loose change is tokenized into Digitize currency at the point of a retail transaction, allowing it to be used for payments, rewards programs, exchanged for Etheruem or to invest in the crypto index.

The technology behind Digitize is leveraged off an ERC20 Token, and improved into a mobile application. Digitize is creating a simple to use mobile application which will facilitate transactions and include an exchange.

3) Would you like to tell us about your team?

Our team consists of the following team members:

Kent Tran – platform developer, who handles the backend infrastructure, including mobile applications.

Radek Ostrowski – Blockchain developer,  who looks after the smart contracts.

Rehan Ahmad – Legal consultant, who manages regulation across different jurisdictions

Ahmer Sheikh – Customer relations manager, who handles client relations.

Each one of our team members has over 5 years of corporate experience within their relative industries.

4) What inspired you to launch a Loose Change Crypto on Blockchain Technology?

Two of my many frustrations in life were carrying loose change, and the difficulty in purchasing cryptocurrencies. As I saw the world shifting towards digital currencies, I noticed under developed and unbanked economies lagging in the adoption. This is when I thought that a solution was needed, thus Digitize was born

5) What makes  Digitizecoin cryptocurrency different from the others, tell us more about your value proposition?

Digitize is aiming to help the world transition from a cash based society, to a digital one. Digitize is targeting the public and consumer directly by solving a real world problem. Most cryptocurrencies today are tech heavy and hard to understand for the average consumer – a barrier for the mainstream adoption of the technology. We plan to solve this by developing a service that helps consumers convert loose change to crypto and remove the frustration of carrying and saving loose change entirely. By making this process a simple and seamless experience we can help bring the public into the crypto world one coin at a time.

Further, Digitize also offers OTC (over the counter) purchases of cryptocurrency up to $5000 AUD. Recently, with global bans of credit card purchases of cryptocurrencies, cash based deposits are much needed in the space.

To read the full interview click here.

 

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Chile Adopts Blockchain Tech

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The Comisión Nacional de Energía de Chile has announced that it will be implementing Blockchain technology in the country’s energy grid.

Blockchain Chile

The technology will work towards the authentication of information, compliance with renewable energy law and much more.

Andrés Romero stated that the move towards the new Blockchain implementation was done out of concern for issues regarding data security.

“The National Energy Commission has decided to join this innovative technology and we have decided to use blockchain as a digital notary, which will allow us to certify that the information we provide in the open data portal has not been altered or modified and left unalterable record of its existence,”

Romero also said that the new technology will increase trust in the data provided by the regulatory agency, improving the confidence of many investors, stakeholders, and the public in general

The idea is to implement the technology in March, 2018, which will innovate the industry by integrating metering data with grid operations and advanced analytics in order to develop ‘smart metering’.

Blockchain has been implemented in many energy companies and many sectors of the industry and has been growing in popularity due to its security measures.

 

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HashChain Technology Interview

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HashChain Technology, a global Blockchain company which focuses in crypto mining. Currently operates 100 Dash mining rigs and has 770 BTC rigs. The company recently purchased 3,000 more rigs.

HashChain is now looking to expand beyond mining and purchase the company NODE40.

HashChain Interview

Tell us about your background and how you got started with HashChain?

I started as a software engineer and am a serial entrepreneur who has been lucky enough to be a part of a few start-ups that enjoyed successful exits. I’m also a founder of a number of technology companies, including most recently sCube in Albany, NY. Having always been a believer in cryptocurrency and its potential to disrupt the status quo in our economy, I made early investments in different coins including Bitcoin, Dash, and others. It wasn’t long before I saw the potentially huge upside to investing in cryptocurrency mining and founded HashChain Technology. I was the President of sCube at the time and decided to step down from my role and focus exclusively on HashChain.

What interests you most about blockchain technology?

Blockchain has the potential to transform nearly every industry due to its inherent transparency and accountability. Blockchain eliminates the fundamental security flaw of assuming trust in a third-party verifier. By eliminating the need for trust in the verification process through computing-based crowdsourcing, business as we know it will fundamentally change to become more secure and simple. Cryptocurrency is obviously a very large use case for blockchain now, but it will find so many more applications in the near future.

Why did you decide to focus on Dash?

We initially focused on Dash because it is driven by great technology. With the Masternode system of Dash (the proof-of-stake aspect of the currency), the blockchain allows coin holders to use InstaSend and PrivateSend, making each transaction more secure and quicker to verify. Recently, the Cryptokitty craze on the Ethereum blockchain highlighted a major flaw with “proof-of-work”cryptocurrencies because they can’t verify transactions fast enough to avoid bottlenecks during high volume times. Dash doesn’t have these issues. With all that said, Dash was just the first step for us. We currently have a web-monitoring system that allows us to allocate a portion of computing power to other mineable currencies in real-time as they become more profitable. Our goal is to keep our mining operations flexible and mine the highest-ROI currencies available at any given moment.

How do you plan to achieve your crypto mining expansion plans?

We have the infrastructure already in place to scale at our desired rate. When developing massive mining pools in a short period of time, you need two things – money and the ability to purchase rigs in mass quantity. It is the latter that is the most challenging for many miners. Buying 10 or 20 rigs isn’t an issue, but thousands become a different story. We have a strategic partnership with the largest rig manufacturer in the world, which allows us to scale much quicker than competitors. As an example, we began our mining operations with 100 GPU rigs in December 2017 and have received 770 ASICs for installation and completed a purchase order for an additional 5,000 expected in two shipments by the end of March. We anticipate operating at 5.8 megawatts by the middle of this year.

Why did you choose Vancouver as a location for a data center?

Canada has the optimal mining conditions for large-scale cryptocurrency mining. You need low costs for Internet and electricity, and a cold environment to reduce costs associated with overheating. There are very few places in the world that have all three, and Canada is one of them. By keeping our mining costs down, we guarantee the best ROI on each coin mined. Currently, only 14% of all mining is done in optimal conditions, so it is a big advantage for us.

Source: https://cryptocurrencynews.com/

 

 

 

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