Introducing A Strategic Partnership with Cointraffic and… Biggico!

Introducing A Strategic Partnership with Cointraffic and… Biggico!

In the huge crypto news this week,

Cointraffic has strategically partnered with an affiliate network, Biggico, to offer even more value to crypto advertisers in the blockchain space. What additional opportunities will this partnership create for the industry at large? Read on to find out…

It’s a wonderful day when two like-minded companies in the same space come together to double their output, their creativity and their impact. After all, aren’t two heads better than one? That’s why we’re popping the champagne corks at the latest slice of crypto news in the Coinraffic office – because we’ve just announced a strategic partnership with the affiliate network, Biggico!

⌈Affiliate network, you say? What’s that and how can it help me with my ads?⌋

Well, in a number of ways…

An affiliate network is a platform that serves as an intermediary between an affiliate and an advertiser, via an online referral program where commissions are paid to publishers (in crypto) based on sales they generate through referred customers. Biggico was founded by IT entrepreneurs to meet the needs of what they coined the “cryptoverse”, a rapidly expanding industry where this kind of performance-based marketing simply didn’t exist. So, they built it, complete with thorough tracking, reporting and payment capabilities. Now, Biggico is the largest crypto affiliate marketing platform in the space, with 38 crypto offers, including revenue share, deals up to 45% and cost-per-acquisition (CPA) deals up to $550 on platforms like ICO, Exchange, Forex, Wallet, Cloud Mining, Gambling e-Commerce, and Cybersport.

The latest in crypto news: Cointraffic and Biggico’s strategic partnership.

About the partnership, CEO Dmitry Yelin said: “Both Cointraffic and Biggico operate in one industry. With different business models, we offer complimentary tools in crypto marketing, and our partnership represents an organic, symbiotic relationship, where both companies can grow, win even more of the market, and for their customers – get maximum opportunities at the best price on partner platforms.”

And for the Cointraffic team, that’s really what this partnership represents: a maximum opportunity at the best price for our customers. As a business operating in a space rife with so much opportunity, it’s important for us to stay ahead of the eight-ball with our service offering. We want advertisers who use our platform to have untapped access to the best in crypto marketing with a diverse range of publishers and advertising options, and we’re just as committed to ensuring that the privacy and safety of your bitcoin or ether are upheld, too. 

The major advantage of strategically partnering with a platform like Biggico is that they’re first and foremost a technological platform: developed from scratch and taking into account all features of cryptology; including a robust software for tracking crypto-transactions. Such technology allows them to offer features that are shave-proof and include quick payout, personal managers, minimal limitations, real-time stats and offers upon request for publishers, and for advertisers, they’re completely worldwide, accept all types of traffic and given their location in Belarus (a tax-free haven), can guarantee the best prices and lowest commissions on the market. 

Biggico’s unique offering in affiliate networking.

For you, our customers, that represents a whole new layer of opportunity, diversity, and quality in the ad sets we run – and we’re so excited for you to experience this first-hand. You can start taking advantage of the partnership right now!

Article Produced By
COINTRAFFIC

Cointraffic is the leading bitcoin and crypto-advertising platform globally. Trusted by more than 400 crypto-related websites, you have untapped access to some of the biggest publishers in the industry, as well as their audiences – be it customers, buyers, traders or investors – through advertising solutions that create unparalleled brand awareness for you. Just like the crypto industry, we’re growing all the time – expanding into new geo-locations, languages, advertising block offerings and marketing services (RTB, PR, remarketing and CRO) every day. There’s never been a better time to join us as we help businesses share their brand message like never before.

https://cointraffic.io/blog/news/cointraffic-biggico-strategic-partnership

Morgan Stanley Upgrades AMD, Says ‘Table Is Set Well’ For 2020

Morgan Stanley Upgrades AMD, Says 'Table Is Set Well' For 2020

A cautious stance on Advanced Micro Devices, Inc. (NASDAQ: AMD)
over the past year was "obviously" the wrong call but the "table is set well" for 2020, according to Morgan Stanley.

The Analyst

Morgan Stanley's Joseph Moore upgraded Advanced Micro Devices from Underweight to Equal-Weight with a price target lifted from $17 to $28.

The Thesis

Investors had reason to hold a bearish stance on AMD over the past year as the Street's estimates looked too high around graphics inflation, Moore wrote in a note. This scenario played out over the year as most of the Street's downward revision in estimates is due to graphics and a notable decline in the cryptocurrency industry.

Much has changed in AMD's favor, Moore said, including continued delays from rival products at Intel Corporation (NASDAQ: INTC) and Nvidia Corporation (NASDAQ: NVDA)'s heavy investments in ray tracing. As such, AMD faces an opportunity to enter an era of "sustained profits." AMD has multiple near-term catalysts to spur growth, including a cloud gaming opportunity where the company has a key advantage over rivals. Specifically, Nvidia is showing an interest in pursuing higher margin GeForce Now implementations and AMD boasts a strong relationship with console developers. Aside from gaming, AMD continues to seek "creative" ways of monetizing its graphics chips.

Price Action

Shares of Advanced Micro Devices were trading higher by 4.5 percent to $30.84 Thursday morning.

Article Produced By
Jayson Derrick

Benzinga Staff Writer

https://www.benzinga.com/analyst-ratings/analyst-color/19/06/13873974/morgan-stanley-upgrades-amd-says-table-is-set-well-for-2020

Peer-To-Peer Pressure: Risks vs. Reward and a Changing Regulatory Landscape

Peer-To-Peer Pressure: Risks vs. Reward and a Changing Regulatory Landscape

Peer to peer lending also known as P2P is not a new phenomenon.

People have always turned to their friends and family for financial assistance when caught between a rock and a hard place. It was either that or the cutthroat pawnshop owner or the shadowy lenders down a dark alley. Before the recession, many a person in need of a loan could comfortably approach a bank and get their credit problems solved. However, with the collapse witnessed in the banking sector, things took an about turn, and stringent borrowing measures took the loan out of reach for most people in need.  

The rise of peer to peer lending

The rise in the popularity of peer to peer lending has been partly attributed to a growing need for alternative lending sources outside the brick and mortar lending institutions. The other could be the financial need of the younger generations in the job market that does not have the stable financial future cushion the older generations had to rely on.  With little in terms of job security, the gig economy is on the rise, meaning that there will not be much to rely on as far as employer matched pension benefits are concerned. So millennials and their peers are out there looking for a way to make that extra buck that will make their future more comfortable.  These age groups are also leaving tertiary institutions tangled in high student debt more than witnessed in any other generation in history. They, therefore, need these alternative lending sites, for credit for their business ideas and start-ups, since most of them are deemed not worthy of credit by most banks.

Why P2P lending has had such an unbeaten run

With this crowdfunding method, you will be matched to an investor willing to lend you cash for interest. Banks have for eons thrived on low-interest charges lent to savings accounts and high-interest charges lent to creditors.  Younger investors have found out that P2P lending can give them higher returns on their investments, much better than bank savings.

With these ultra-low rates on savings, banks have put their clientele in a bind and opened the door for alternative lending sources. These alternatives have thrived and taken away their customers right under their noses. P2P lending also has fewer overheads than brick and mortar lenders. Investors, therefore, can have better ROIs and also give affordable interest rates to the borrowers…It’s a win-win for all parties.

The dark clouds on the horizon

As for 2018, the peer to peer lending industry in the U.S had hit the $3 billion mark. A clarion call is continually being sent out to more youngsters with deep pockets to join in, in the largely unregulated trade. Riding on the wave of financial technology they are appealing to millennials who have a deep distrust for banks and their out of date and inefficient systems. This age group are digital mavens and flourish where the service and industry are, and so, they are responding in droves to the P2P attraction.

P2P lending is of course very different from traditional lending or short-term lending from companies.  Why? If you are planning to lend some money to your friend, you will have a harder time making that transaction legal. Banks thrive in the legalism they in conjunction with the law have built for mutual interest. P2P is however very different from cash saving for investors or lenders. An investor could lose everything they have plowed into lending for interest if the borrower defaults. The transaction in this sector are primarily unprotected and not covered by the Federal Deposit Insurance Corporation (FDIC).  

Peer-To-Peer Pressure

In the UK, financial regulators are preparing methods to crack down on the marketing efforts of P2P lending sites in fear that more people are throwing their money into these pools through false advertising. In 2018, these platforms transacted £6.1bn as loans. And while there is great risk apportioned to these investment platforms, the reward is that their interest rates far exceed most of what is found on other investment instruments.

However as young investors enjoy the rates and grow their savings, the UK Financial Conduct Authority has its eyes fixed on the glossy ads that are inviting more and more hapless investors to the market.  Most are going overboard and putting in more they can afford in the hopes of striking it rich. With reported increased investor losses on loans, profits to investors are on a decline, and many a long time investor is preparing to leave the scene.

Regulation and closure

There has been increasing criticism over this crowdfunding method, especially after the massive collapse of their Chinese P2P lending platforms in 2016. One of the greatest dangers these platforms raise to investor assets is that they often grow to large pools of money giving the platform owners the onus loan out more risky investments in a bid to expand.  

The expansion helps the platform sell off the business faster with less worry about the risks they have put their investors in. They can just get their millions, wash off their hands and walk away to the sunset, leaving their investor’s finances in disarray. In China P2P lending took off like fire to fuel, hitting 6000 platforms in a few years. By 2017, the transactions this industry commanded totaled more than $445 billion. In a move to regulate the sector, the Chinese government moved in to shut down some platforms like Ezubao that was more Ponzi in its operations than a crowdfunding business.  

Soon some of the Chinese largest P2P lenders started to exit the scene claiming that the new regulations were making it hard to turn in a profit. As of February 2018, there were less than 2000 platforms of this nature operating in China. With the Chinese government still on the move with regulations more and more platforms shut down, often freezing the assets of their investors on their downward spiral. Lenders began to panic and withdrew their funds en masse causing a further loss of funds and investor confidence in the sector.

Guo Shuqing, the chair of the China Banking and Insurance Regulatory Commission later issued a statement to the effect that investors had swallowed hook line and sinker the ‘too good to be true’ deal that Chinese P2P platforms represented. He warned that while the high returns of 6% were questionable, those beyond 8% were dangerous, while those higher than 10% would cause investment losses. The upheaval witnessed in China has not hit the United States yet, but with growth, it is expected that the law and the taxman will make a move too.

Pros of P2P lending

  • Peer to peer platforms fills a natural void in the lending market and in the community need to share the resources available to them. There is a mutually beneficial relationship between borrower and lender that has less red tape than experienced in other lending sectors
  • You will get to enjoy higher returns than those of many different investment channels.  
  • You have the choice of who to lend depending on your risk tolerance.
  • There is a lot of personal satisfaction derived from helping out a worthy person in genuine need of finances. If for example a borrower has a sketchy financial history, but has a sob story that arouses your sympathy, you can assume the risk of the loan or forego the high returns of the investment.
  • The sense of community and camaraderie in P2P sites is very inviting, and their forums are very heated and active. There is also the spirit of helping each learn about healthy borrowing and lending.
  • It is a good investment source for anyone that dislikes saving their cash in a bank
  • The denial rate for P2p loans is much lower than what is witnessed in banks.
  • The borrowing and lending relationships built over time can be forged to more profitable long-term relationships due to the nature of the platforms
  • The opportunity to invest and make profits is open to small scale investors as well who would have a harder time reaping off such benefits in other sectors
  • As per statistics, over 80% of all investors on these lending platforms have either met or exceeded their ROI. It works!

 Cons of P2P lending

  • The available loans are often small and in many P2P platforms limited to $35,000, though there are variances.
  • Poor credit histories will still keep some borrowers away
  • The loans are not insured so a lender capital could be entirely or partly lost, especially when dealing with dishonest borrowers who have perfected their sob storytelling techniques
  • P2P platforms tend to publish what many borrowers consider private financial stories. Some borrowers may, therefore, prefer an impersonal brick and mortar lender to the publicity of a P2P platform
  • As the industry grows and shapes itself, regulations, consolidations may become a risk and a burden, chasing away disciplined investors.

Our advice

To stay on the safe side, do your due diligence before committing your hard-earned cash to a P2P platform. Gauge the health of a platform not only by its sheer size, but by its performance for years. Do as much as you to minimize your exposure by ensuring that you do not put all your eggs in one single basket.

Article Produced By
Mark

https://themerkle.com/peer-to-peer-pressure-risks-vs-reward-and-a-changing-regulatory-landscape/

2019 Japan Prize Awarded for Significant Achievements in Technology and Science

2019 Japan Prize Awarded for Significant Achievements in Technology and Science

                                

Bitsonline was fortunate this week to attend the 35th Japan Prize presentation ceremony in Tokyo.

The Prize, similar in status to the Nobel Prize, is awarded annually to recognize significant contributions to progress in science and technology. The ceremony at Japan’s National Theater included Their Majesties the Emperor and Empress, senior members of the country’s scientific community, and several government ministers.

Receiving the Japan Prize in 2019 were Prof. Yoshio Okamoto for Materials and Production research and Prof. Rattan Lal for Biological Production and Energy. Both Laureates have worked in several countries and made breakthroughs that have been applied on large scales worldwide. They receive the official Prize medallion and certificate, plus ¥50 million JPY ($449,000 USD) in cash. However the real prize is the international prestige and formal recognition of years of work, and in acknowledging the benefits their discoveries have produced for humanity.

Breakthroughs Greatly Improved Medical Treatments, Food Production

In his acceptance speech, Prof. Okamoto (77) stressed the need for persistence in scientific research. Scientists who dedicated most of their time to pursuing their field of interest “have a good chance to make at least two or three major scientific breakthroughs” in their careers, he said. Prof. Okamoto lived by his words, with a reputation in his younger years for sleeping overnight in his laboratory because he was too impatient to wait until the next morning to see the results of his experiments.

In 1977 he discovered “by accident”, according to him, a process to efficiently separate “right-handed” from “left-handed” optical isomers — something that was not even considered theoretically possible at the time. The discovery enabled mass production of optically active drug treatments; chemical compounds that were mirror-image identical and could be either safe or toxic due to this asymmetric nature. It took him five years to perfect the process, which has since become widely used in the pharmaceutical production industry and has benefited researchers working on other treatments.

Prof. Lal developed processes for soil management in agriculture, beginning his research in 1970. By studying regions where soil degradation had diminished crop-growing capacity, he was able to develop new techniques to capture carbon dioxide from plants and the atmosphere, revitalizing heavily-used soil in harsh environments. His work has been vital to sustaining food production in a world expected to top 9.8 billion in population by 2050, with techniques that result in better soil quality and longer use, improved water quality, and also mitigate the effects of climate change.

How the Japan Prize Has Contributed to Science, World Peace and Prosperity

The Japan Prize was conceived in the 1980s as a way for Japan to make a global contribution to scientific progress, and enjoys a status similar to the Nobel Prize. Like the Nobel Prize, the award is given to recipients who are still living in recognition for past achievements, some decades-old. Generally, two science/technology fields are honored each year, although the Prize can be shared among multiple individuals. Researchers from all regions of the world have been recognized, with the majority being citizens of the U.S. or Japan. The 2019 presentation ceremony was a landmark for the Emperor, who took the throne in 1989 and at 85 is set to hand it to his eldest son on May 1st — in just three weeks’ time. As Crown Prince in the mid-1980s he had played a part in establishing the Prize, and as Emperor has presented all but four of the awards.

The nomination, awards and ceremony are administered by the Japan Prize Foundation, established with a donation from Konosuke Matsushita, the founder of Panasonic Corporation (known as Matsushita Corp. in Japan). Every year over 13,000 nominators from the world scientific community present potential candidates. A Selection Committee then evaluates candidates with an emphasis on their achievements and their impact on peace and prosperity. The foundation’s Board of Directors then makes the final decision.

Article Produced By
Jon Southurst

Jon Southurst is a Senior Editor at Bitsonline. He is based mainly in Tokyo, and is interested in the roles Asian economies play in developing cryptocurrency and blockchain technology.

https://bitsonline.com/2019-japan-prize-ceremony/

Upgraded Hyperledger Fabric Sees 7-Fold Increase in Transaction Speed

Upgraded Hyperledger Fabric Sees 7-Fold Increase in Transaction Speed
           

Researchers have re-engineered the Hyperledger Fabric

to support almost seven times more transactions per second (TPS), according to a May 2 news release from Canada’s University of Waterloo. A new series of optimizations increased the volume of data that the blockchain — used by financial institutions, IT giants and engineering companies — can process. Where it formerly maxed out around 3,000 TPS, the researchers claim they managed to achieve 20,000 TPS.

The university’s work focused on improving “end-to-end transaction throughput” by redesigning Fabric’s ordering service, transaction service and data management layer. This means that the blockchain is more practical for “fast-paced sectors such as e-commerce.” Christian Gorenflo, one of its PhD candidates,

explained:

“Our modifications are completely under-the-hood. Fabric’s application programming interfaces and modularity stay intact, so existing applications work just as before.”

Professor Lukasz Golab said the researchers are now in discussions with major Fabric contributors who want to adopt their optimizations in future releases. Golab described the reception so far as very positive. Professor Srinivasan Keshav explained that the team is now determined to pursue further optimizations, which they believe could take Hyperledger Fabric’s capacity to 50,000 TPS.

The Hyperledger community has been expanding apace. In February, Intel launched a commercial package through the ecosystem. The package is designed for businesses that want to launch their own blockchain quickly and efficiently. Italy’s postal service, Poste Italiane, joined in January, following in the footsteps of America’s FedEx, which claimed the technology has “big, big implications” for supply chains and transportation. IBM is using its Hyperledger-based blockchain platform to improve supply chain management in the mining industry and ensure commodities such as cobalt are sourced responsibly.

Article Produced By
Thomas Simms

Thomas is a British reporter who loves all things breaking news and crypto. When out of the office, he also likes backgammon and gin.

https://cointelegraph.com/news/upgraded-hyperledger-fabric-sees-7-fold-increase-in-transaction-speed

SeedInvest Gains FINRA Approval as Alternative Trading System a Month After Circle Buyout

SeedInvest Gains FINRA Approval as Alternative Trading System a Month After Circle Buyout

           

SeedInvest, the equity crowdfunding platform

owned by crypto-friendly payment giant Circle, has gained approval to offer secondary shares trading, crypto industry news outlet The Block reported on April 26. The platform, which Circle bought out for an undisclosed sum in March this year, can now allow its users to trade startup shares via its accreditation as an Alternative Trading System.

The company got the go-ahead from the United States Financial Industry Regulatory Authority (FINRA), a month after gaining initial regulatory approval. At the time, Circle praised SeedInvest for its input in aiding the U.S. startup investment scene, notably through its assistance with the 2012 Jumpstart Our Business Startups (JOBS) Act. “As a crowdfunding pioneer in the United States, SeedInvest helped to shape the JOBS Act,” a blog post read.

It continued:

“Today they are at the forefront of enabling startups to raise capital directly from investors over the internet — creating new capital formation options for startups and growth companies, and giving average retail investors the opportunity to invest directly into innovative private companies.”

Circle, meanwhile, continues to see growth in various sectors of the crypto economy. As Cointelegraph reported, the company’s over-the-counter trading desk for large-volume investors saw turnover of $24 billion in 2018. Also in March, reports emerged that Circle was seeking fresh funding to the tune of $250 million. The company was previously known for securing investment from Goldman Sachs.

Article Produced By
William Suberg

William Suberg got into Bitcoin while completing his Masters degree and hasn't looked back since, writing about anything crypto-related which makes him sit up and pay attention. He started working with Cointelegraph in October 2013.

https://cointelegraph.com/news/seedinvest-gains-finra-approval-as-alternative-trading-system-a-month-after-circle-buyout

Report: United States-Based Crypto Exchange ErisX Is About to Launch its Trading Platform

 
Report:
United States-Based Crypto Exchange ErisX Is About to Launch its Trading Platform
            

Chicago-based cryptocurrency exchange EriX

is reportedly about to launch its spot trading service, industry news outlet The Block reports on April 24. Per the report, the exchange has recently been in test mode with some financial firms that would potentially become users. One of those firms is reportedly United States retail brokerage TD Ameritrade, which announced that it invested in ErisX in October of last year. The platform reportedly aims to host spot crypto and crypto derivative trading later this year after obtaining regulatory approval.

According to a report released at the time, investing company DRW Holdings and high-frequency trader Virtu Financial also invested in the exchange. Moreover, both also reportedly agreed to be market makers for ErisX.

According to The Block, TD Ameritrade could soon offer crypto trading to 11 million retail clients. The Block claims that if TD Ameritrade links to ErisX, it would be among the first major brokers to offer cryptocurrency trading, following Robinhood. In a tweet published on April 23, ErisX declared that a limited number of participants are currently testing the platform.

As Cointelegraph reported earlier this week, Twitter personality Cryptopolis, a quantitative analyst at StrongMarket, tweeted that he bought one bitcoin through an account on retail brokerage firm TD Ameritrade on Nasdaq. Although he later noted that the trade had not gone through, he still alleged that Nasdaq is quietly testing a new bitcoin-based asset that is available only through their Paper Trading platform. At the beginning of the current month, ErisX has appointed three veterans from Barclays, Youtube and the Chicago Board Options Exchange to fill executive roles at the company.

Article Produced By
Adrian Zmudzinski

Adrian is a newswriter based out of Pisa, Italy. He's passionate about cryptocurrency, digital rights, IT, tech and futurology and likes to think about the future in a positive way.

https://cointelegraph.com/news/report-united-states-based-crypto-exchange-erisx-is-about-to-launch-its-trading-platform

South Korea’s Largest Car Supplier Hyundai to Use DLT in Smartphone-EV Pairing Tool

      South Korea's Largest Car Supplier Hyundai to Use DLT in Smartphone-EV Pairing Tool

           

South Korea’s largest car manufacturer, Hyundai Motor Group,

will use blockchain in its new tech for pairing electric vehicles (EVs) with smartphones. Sustainable mobility-focused news agency Green Car Congress reported on the development on April 22.

Hyundai reportedly announced development of smartphone-EV pairing based performance adjustment technology that allows users to customize primary functions via a smartphone application. In the claimed industry-first, Hyundai will reportedly implement blockchain technology to prevent security issues while users upload and share their custom settings on the server.

As such, the upcoming system is set to encrypt major performance parameters on a blockchain network by creating new data blocks in the process of uploading and sharing custom settings in order to prevent unauthorized manipulation of data. According to the report, drivers will be able to adjust seven performance features such as the maximum torque output of the motor, acceleration and deceleration abilities, regenerative braking capacity, maximum speed limit, responsiveness and energy use on climate control.

Earlier this year, Hyundai’s financial services subsidiary, Hyundai Commercial, partnered with American tech giant IBM to transform its business model with blockchain. The partnership is focused on deploying open source Hyperledger Fabric blockchain technology to create a new supply chain financing ecosystem for the Hyundai Commercial network. Recently, IBM was granted a patent for a new system to manage data and interactions for self-driving vehicles.

Article Produced By
Helen Partz

Helen is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2017, she joined Cointelegraph as a writer.

https://cointelegraph.com/news/south-koreas-largest-car-supplier-hyundai-to-use-dlt-in-smartphone-ev-pairing-tool

CoinMarketCap Releases New Mobile App Version With User Accounts, Price Alerts

CoinMarketCap Releases New Mobile App Version With User Accounts, Price Alerts

                                 

Crypto data tracker CoinMarketCap

has released a new version of its app for iOS and its first Android app today, April 16, with added features for price tracking and user accounts. According to the website, the mobile app will include candlestick charts, daily historical open-high-low-close chart data and the option for setting price alerts on all cryptocurrencies available on CoinMarketCap. In order to use the app, users will have to make a CoinMarketCap account and log in. The app will also allow users to follow news from various media outlets, as well as compare cryptocurrency prices with other cryptos. Last August, CoinMarketCap had launched a professional, paid API targeting developers and funds, which tracks crypto-based derivatives markets, with support for futures, options and over-the-counter exchanges for a monthly fee.

In March, the crypto data tracker announced that they would be releasing two crypto benchmark indices on the Nasdaq Global Index Data Service, Bloomberg Terminal, Thomson Reuters Eikon and Börse Stuttgart. Also this year, CoinMarketCap noted that it would be altering its listing metrics for cryptocurrency exchanges following research that claimed most of the exchange data was faked. The first iOS app from CoinMarketCap was launched last May in honor of the site’s fifth birthday. At the time, the site was ranked 175th in the world for most trafficked sites: the current ranking as of April 26 is 482th.

Article Produced By
Molly Jane Zuckerman

Molly Jane is a Russian Literature major from California with a background in writing. She joins Cointelegraph after working as a freelance journalist and blogger.

https://cointelegraph.com/news/coinmarketcap-releases-new-mobile-app-version-with-user-accounts-price-alerts

Kakao Affiliate Dunamu Launches Blockchain Service Platform

Kakao Affiliate Dunamu Launches Blockchain Service Platform

                                  

Dunamu, the fintech arm of South Korea’s largest Internet corporation Kakao,

is reportedly launching a blockchain service platform designed to help companies start businesses using blockchain. Korea’s JoongAng Daily reported the news on March 19. The platform, which is called Luniverse and supervised by blockchain technology research lab Lambda256, is geared to help IT startups develop blockchain-based services. The platform reportedly has a high level of security and an automated scaling function, that can adjust blockchain sizes in accordance with the amount of data stored on it.

To implement the service, Dunamu reportedly collaborated with blockchain companies that provided various blockchain apps and products following clients’ business fields. Park Jae-hyun, CEO and former research head of Lambda256 said that “in the past, a lot of companies built their own blockchain, but an alternative is outsourcing the establishment of a blockchain in the form of a service offered on cloud systems.” Yesterday, Kakao announced the integration of its cryptocurrency wallet in its messaging app KakaoTalk, which will purportedly enable more than 44 million South Korean KakaoTalk users to send peer-to-peer transactions using Kakao’s crypto-powered wallet.

Also in March, Cointelegraph reported that Kakao will repeat its initial coin offering after netting $90 million from investors. Klaytn, the blockchain platform which is the responsibility of spin-off firm Ground X, will now seek to raise another $90 million. In December 2018, Kakao had first announced that it was planning to raise around $300 million through Ground X to develop its own token. As reported in February, in the fourth quarter of 2018 Kakao’s operating expenses related to new businesses, such as blockchain and artificial intelligence, was 65 billion won ($57.5 million), which reportedly led to a net loss for the whole period. Kakao’s consolidated operating income was 4.3 billion Korean won ($3.8 million).

Article Produced By
Ana Alexandre

Total change in her career took Anastasia into the world of analytics and business information as a researcher and translator in 2010. Some time later she got into FinTech, a dynamically developing segment at the intersection of the financial services and technology. Ana joined Cointelegraph in September 2017.

https://cointelegraph.com/news/silvergate-bank-onboarded-59-new-crypto-customers-in-q4-2018