As a report has it, Cardano (ADA), the 6th largest cryptocurrency by market capitalization, will soon go live on the decentralized algorithmic money market, Venus.

Venus passed this latest development across via its official Twitter handle a few hours ago. It came in a thread of announcements that was started on 17th February 2021 by Venus on the microblogging platform Twitter.

Read Also: Cardano (ADA) Announces $1 Million Funding for Project Catalyst New Stage; Releases New Daedalus Wallet

Back then, the platform announced that Venus Improvement Proposal 9, which is slated for deployment this week will enable Cardano (ADA) to be listed on Venus for holders to participate in the liquidity mining program, earn interest, or used as collateral for loans.

Venus tweeted, “Venus Improvement Proposal 9 (VIP-9) will deployed this week and will enable Cardano ADA to be added as an asset to Venus where users can participate in the liquidity mining program (farming), earn interest, or use ADA as collateral to borrow other assets.”

Two days later, Venus announced that Venus Improvement Proposal 9 (VIP-9) has been deployed on the Venus mainnet in readiness to add Cardano (ADA) as an asset on its platform.

“VIP-9 has been deployed on the Venus mainnet…”

💴 Add $ADA to Venus 🏦 Lower VAI’s #XVS Emissions Rate (Reducing overall Venus inflation) https://t.co/u6geS2A8ch

— Venus (@VenusProtocol) February 18, 2021

Read Also: Fundamental Reasons to Be Bullish On Cardano (ADA)

In a recent update concerning the development, Venus stated that the awaiting Venus Improvement Proposal 9 (VIP-9) is now successful and it will be implemented soon.

According to the report, the development will give room for Cardano (ADA) to go live on the decentralized algorithmic money market, Venus.

Venus announced, “VIP-9 has passed and will be executed soon! Cardano will become an available digital asset on Venus!”

Get started: https://t.co/cAsPHdzOlQ https://t.co/KCgHWRPlfB

— Venus (@VenusProtocol) February 23, 2021

The cryptocurrency market has been in the red zone over the past couple of hours. Virtually all cryptocurrencies in the market are experiencing a huge dump along with Bitcoin (BTC).

Over the last 24 hours, BTC has lost relatively 20% of its value, likewise the second-largest cryptocurrency by market cap, Ethereum (ETH).

Read Also: Charles Hoskinson: Bitcoin is only valuable because it’s Valuable, It Has No Technological Advantages

Cardano (ADA) is also dumping significantly. At the moment, no one can ascertain the bottom of this bear’s perpetration. At the time of writing, ADA is trading at $0.9241, with about a 13% price plummet in the last 24 hours.

The ransomware attack on Colonial Pipeline hit the headlines in May.  Colonial  Pipeline decided to pay the hackers who invaded their systems nearly $5 million (75 bitcoins) to regain access. Over the next several weeks, the FBI traced the address of the wallet the criminals gave to Colonial to make the payment according to Bloomberg. At that point, federal law enforcement seized the assets, recovering 2.3 million worth of bitcoins transferred. 

The FBI said in its request for a warrant that its investigators had in their possession the private key for that cryptocurrency wallet. How they obtained the private key which is closely held is unclear.  One scenario is that hackers had made the choice to entrust the private key for their Bitcoin to a cryptocurrency exchange which was forced to hand over the funds to the FBI. 

This incident is a reminder of the threat of cyber attacks on critical infrastructure in the U.S. and the use of crypto currency in ransomware attacks.  Criminals favor Bitcoin and other cryptocurrencies because of the pseudo-anonymous nature of the technology, and funds in the wallet can be accessed only with a complicated digital key. 

It can also serves as a case study of risks and controls of the cryptocurrency platforms that facilitate the trading of cryptocurrencies.

Crypto investors who are more sophisticated and security-conscious tend to keep their coins away from major trading apps, such as on ‘cold’ wallets and USB keys.  In reaction, the fintech firm Square is reported to be developing non-custodial bitcoin hardware wallets to give investors sole control of their private keys and retain greater control of their cryptocurrency.

The boom in cryptocurrency investing has made the industry an attractive target for malicious hackers and thieves to go after and carry out frauds, scams and thefts. In 2018, cryptocurrency crimes hit $1.7B value, revealed CipherTrace's annual Crypto Anti-Money Laundering and Crime Report. This figure soared by almost 165% year-over-year to $4.5B in 2019, before dropping to $1.9B in 2020.  

A range of vulnerabilities affect crypto exchanges from operator error and security flaws to malware affecting hard drives in search of wallet credentials and private keys.  This has led regulators to call for greater protection of customers and investors. Internal controls modeled on established financial institutions include robust verification of new accounts that complies with Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. Since most cryptocurrency services and exchanges fall outside financial services regulations, standards of integrity and security are inconsistently followed.

On the internet you can even find examples of cryptocurrency exchanges advertising that they do not conduct KYC verification of customers, customers are allowed to keep their personal information to themselves. One such exchange is Binance, the world’s largest crypto exchange, based offshore. I note that Binance is currently under investigation by the U.S. Internal Revenue Service and the Department of Justice for money laundering and tax offenses.

A challenge for trading technology is to maintain the level of security, anti-fraud and other capabilities in keeping with greater volumes and types of transaction.  Larger centralized crypto exchanges have had to tackle system outage issues amid extreme market volatility. They are deploying RegTech tools for advanced KYC/AML risk monitoring and analytics to achieve their risk management and compliance strategy.

Insiders fear that tighter internal controls and more regulation will deter innovation and push the business offshore. In recent study by Brian Feinstein and Kevin Werbach, Wharton professors of legal studies and business ethics, in their paper in the Journal of Financial Regulation, the authors argue that greater regulation of cyber platforms would not necessarily dampen enthusiasm for crypto or push trading to more laissez-faire countries. They studied trading activity at several exchanges worldwide following key cryptocurrency regulatory announcements. Good business drives out bad. As bad actors leave, legitimate investors, from day traders to major investment firms, become more prominent, they argue.

In conclusion, the Colonial Pipeline hack and FBI investigation have provided a case study of the systems and controls of crypto currency trading venues, particularly relating to the risks of security breaches, KYC/AML and custody of private keys. Exchanges and other platforms remain vulnerable, and security and compliance frameworks must continue to be made robust to prepare and defend against potential hacks and thefts of customer assets, and keep fraudsters and money launderers away. This can be a competitive advantage.

I have very diverse experiences and outstanding past achievements in risk management, finance and technology as well as a passion for teaching. I created the ERM program

I have very diverse experiences and outstanding past achievements in risk management, finance and technology as well as a passion for teaching. I created the ERM program at New York Life Insurance Co. from scratch, built on strong enterprise risk management processes, minimizing operational risks, robust credit risk measurement techniques, CCAR stress testing, Board communication and strong partnerships with the businesses. I discussed and debated with professionals about all kinds of contemporary challenges and issues in risk management, finance and technology. I am considered a thought leader in risk management in the industry having spoken at many conferences. I now teach new graduate level courses on fintech, blockchain and cyber security risk management at the Zicklin School of Business at Baruch College.

Simply visit the website at: https://www.myvenus.ooo   Register and login.  On your dashboard, navigate to “Buy now”  On the right hand side, you’d see the calculator which can be used to calculate the amount of VENUS you want to buy.  Input the amount of VENUS you want to buy and the equivalent will appear in the coin option section.  The payment options are: Bitcoin, Bitcoin cash, Ethereum, Litecoin, Ripple.  Select the payment option you’d like to pay with. That is, If you are paying with Bitcoin, You’d see “pay BTC” click on it, if you are paying with Bitcoin cash, you’d see “pay BCH” click on it and so on.  After clicking on the preferred payment option, you’d see a payment platform “Coingate”, click on “select”  A pop up will appear, click on “continue” A page to preview your purchase will come up, click on “Pay now”  Select the payment currency you’d like to pay with either: Bitcoin, Litecoin, Ethereum. Click on “pay with Bitcoin” or “pay with Litecoin “ or “pay with Ethereum “  A wallet address will be generated where you’d send your payment to.  Kindly wait for it to be confirmed.  Once fully confirmed, the coins would be visible on your dashboard.  NOTE: We are in the third stage of the ICO and the ICO will come to an end by the 31st of January. You have the opportunity to get 10% bonus before the ICO ends. DO NOT MISS THIS!!!A Worldwide Decentralized Social Networking Site — Broomstickk and Venus is new Currency

Is Project Venus really a competitor for Libra? Binances blockchain project will act as a platform for launching localized stable coins 3 min readTop Cryptocurrency exchange has been a major player wielding a lot of influence in the Cryptoverse with its broad-based ecosystem. Starting off as a digital exchange only, it has broadened its horizons to include educational initiatives, a very own native coin (BNB), an open public blockchain Binance Chain, Binance DEX a decentralized exchange and now Project Venus .The open blockchain project as is an initiative to develop localized stable coins and other digital assets pegged to different fiat currencies across the globe. Binance hopes to achieve this by fostering partnerships with governments, corporations, technology companies & other players involved in the blockchain ecosystem.Binance has been on a roll this year with adding innovative functionalities to its blockchain ecosystem Earlier in the year, Binance LaunchPad was unveiled with the intention of helping promising startups in the Blockchain space get the required funding in a secure & streamlined fashion. The platform acting as a crowdfunding as a service has been adopted by other exchanges we well with the successful launch of quite a few projects.Followed by the successful launch of Binance Chain, so-called Ethereum competitor in April, the crypto exchange also unbundled a decentralized exchange (Binance DEX). Binance Chain has already issued a few stable coins on the platform including BTC-pegged stable coin (BTCB) and the Binance BGBP Stable Coin (BGBP) pegged to the British Pound. If the infrastructure was already in place to issue stable coins why the need for this new initiative?The Chinese version of the announcement terming Venus as a regional alternative to also got the debate going. Libra is knee-deep in trouble with the Western regulators & might not even launch as the team working remains skeptical of the outcome of the hearings with the lawmakers.The intention to launch Libra, nevertheless, with a mammoth following of more than 2.5 billion users is enough to give cold feet to central banks like , which has prioritized the development of a to counter the influence of Libra. While the source of inspiration for PBoC & Binance might be Libra, the move to build a competitor might have different objectives.Binance, unlike PBoC, is much less concerned with the dominance of Greenback to which Libra is pegged. It is perhaps more worried about a centralized legacy tech giant infringing on the decentralized space of the blockchain ecosystem. A dollar-pegged Libra would, of course, keep the importance of fiat reserve currency alive.Terming Venus as a regional version of Libra might also be a strategic move on part of Binance to get some leverage from Libra weary Chinese authorities. Also, regional stable coins might be better placed to counter the influence & reach of Libra if it gets off the launchpad.Stay informed with the content that matters

The Facebook regulatory battles over the Libra network is hard to miss. Those interested in creating their own cryptocurrencies similar to the Libra network Libra Network are being forced to rethink their plans. Among them is Binance, a Malta based cryptocurrency exchange.The crypto exchange says it will be taking a different approach in the handling of the Venus launch. Venus is a Binance idea in developing localized digital assets and stablecoins pegged to fiat.Binance co-founder He Yi has admitted in an interview with Bloomberg that as far as the Venus launch is concerned, it should comply with the regulations in the specific country it is launching in.The Difference Between Venus And Libra It is obvious that much of Venus inspiration is drawn from Libra. And He Yi acknowledges it. However, there are a few key differences between the two.Venus for one will focus on developing a strategic partnership outside the western world. The Belt and Road version of Libra as known by He Yi is believed to reference China in particular. She adds that the projects geographical scope will be comparable to Beijings broad initiative to build its infrastructure.Second difference is the projects technical approach which is also a bit different from Facebooks Libra. While Libra aims at creating a single cryptocurrency pegged on a pool of fiat currencies, Venus has a different objective. Its goal is to create multiple coins via partnerships with technology companies, corporations, governments and crypto companies including other projects in the larger blockchain ecosystem.Facebook is inexperienced with blockchain, and they have admitted this in a quarterly report at the end of July. Facebook acknowledges that the lack of significant experience with digital currencies may adversely affect their ability to develop and market such a product or service. For Binance however, this is not a problem. They have been on the crypto scene for a while and garnered enough experience with blockchain, something Facebook cannot say.New Approach Towards Regulators The approach to extend the olive branch is rather a new stance towards regulators. Crypto exchanges are now attempting to improve their relationship with the regulators especially in the east. And it is evident in the new Binance approach towards regulators.Bloomberg has in the past reported that Binance exchange has quit markets like China and Japan which it considered hostile to avoid clashing with financial watchdogs. Most recently however, Binance has set up regulatory compliant exchanges in more friendly jurisdictions like Malta and Singapore which allow customers to trade using real money.Binance Pledges Full Support For Venus The Binance crypto exchange has already issued a number of stablecoins on the public blockchain. This is including the GBP-pegged stablecoin and BTC pegged stablecoin.Binance exchange promises to provide full technical support, multi-dimensional cooperation network and compliance risk control system in the building Venus while leveraging its own regulatory establishment and existing infrastructure. The exchange platform announced this on a blog post announcing the initiatives launch.Besides admitting to no prior experience with digital currencies, Facebook also acknowledged that obstacles may block their way in delivering associated products and services in a timely manner, or even delivering the same at all.Learning From Libra: Binances Venus To Comply Fully was last modified: August 31st, 2019 by Daniel Shaw

Facebook, the social media giant, has become the center of attraction of financial discussions since the news of the launch of its cryptocurrency , Libra. Being one of the most anticipated projects, Libra, on the contrary, had to face a lot of backlashes owing to its security and regulatory drawbacks.The turmoil which Libra faced is working as a warning for others. This statement became relevant when one of the worlds largest crypto exchanges, Binance, announced that its platform had got a crucial lesson from Libras push back situation. The exchange authorities revealed that they have become cautious about the regulatory problems that led to Libras set back.Binance co-founder, He Yi, in an interview stated that their new Venus coin project would work in collaboration with the regulating authorities from the start. The spearhead also gave his confirmation of the rumor that Venus will be centered towards non-Western countries.Venus Project will facilitate a network that will operate on an array of stablecoins which will render to the requirements of a particular region and will work for the targeted audience.Working in compliance with regulators unlike Libra: Libra, Facebook s stablecoin project, has been under constant scrutiny by the regulating authorities from all around the world. Binance renders to give thorough importance to the compliance rules and regulations from the very beginning of the project.In an interview with Bloomberg, He Yi quoted that their venture project will only be working in those countries which abide by the regulatory requirements completely. He mentioned that Venus would primarily focus on regulatory compliance rather than on technological parameters.Yis statement read, If we want to launch Venus in a country, well make sure it complies with the regulations.Leaving a mark in the smaller nations through Venus: Binance emphasizes to deepen the roots of its venture project, Venus, in countries like Malta, Uganda, Singapore, and other smaller nations which will serve as the base for the project.He Yi in his interview gave a special mention to China and its regulatory authorities. The expansion plan of Venus is expected to run parallel to the Chinese infrastructure module.Venus is expected to face a lot of hurdles in passing through the scrutiny check of Chinese regulators. Not just Libra, Venus will have to face stiff competition from the cryptocurrency launched by Chinas Central Bank, which is to be launched soon.Source link Continue ReadingYou may also like...Telegrams TON Blockchain to Be Compatible with Ethereum DAppsCrypto News From Brazil and Portugal: Aug. 24-31 in ReviewWhat Else Is the Pentagon Up To?Nearly 10% of Indias richest investors are looking to increase allocation to cryptocurrencyRelated Topics:Binance, Blockchain, Crypto, Cryptocurrency, Ethereum, focused, ICO, Platform, Proposes, Regulatory, Stablecoin, VenusClick to commentThis site uses Akismet to reduce spam. Learn how your comment data is processed.

Guides and the best analyses and reviews on the best ICOs 2018 - 2019, a great directory for the most relevant ICOs in the marketWith the intention of using Renewable Energies to support the mining of cryptomonedas, was born the ICO VenusEnergy, a project that wants mining to become something sustainable for the economy and the environment.Bitcoin mining has gone from simplicity with CPU and GPU to application with ASICs (Application Specific Integrated Chips), which means an increase in costs as the latter are more complex than the former. In addition to this, the use of ASICs machines implies a higher energy consumption, which has called into question the ecological viability of the mining of Bitcoin and the rest of the crypto currencies within society.This concern grows when one considers that the main mining farms are located in countries with a highly polluting energy production such as thermal energy resulting from the burning of fuel and other fossil derivatives. Another important aspect to consider is that in addition to the pollution generated, these energy sources are not renewable so that one day they will cease to exist.Having this information clear, the developers of VenusEnergy remember that the production value of energy is an elemental data to consider the gain that can be obtained in the mining process and due to the complexity that are acquiring the mathematical processes of mining and the constant energy consumption to maintain the machines that make these calculations, the remuneration of the miners is not being sufficiently attractive to cover the energy cost involved in sustaining the Blockchain network.With this reality, the VenusEnergy team wants to implement the use of renewable energies for the production of electrical energy that will be made available to carry out the mining process, thus helping to reduce the environmental effects and costs associated with producing energy by conventional means. This would have a direct impact on the price of mining, since the costs of electricity production would be significantly reduced by taking as a reference only the costs of the necessary computer equipment.In addition, if the production of electricity does not so drastically affect the mining of crypto coins, the opportunity would be given for more people to participate in this process and this would imply an improvement and expansion in the Blockchain network that would even lead it to compete directly with the main technologies that are applied today.The renewable energies that VenusEnergy has focused on are solar energy and wind energy, two renewable energy sources that, according to the developers, are evolving favorably and have the potential to produce the energy needed to maintain the mining system of the Blockchain network.For the financing of their project, the developers have decided to launch an ICO, the developers say that in this way they will bring together the community of users of cryptomedas to provide a solution that will benefit everyone equally.According to what the developers have been able to explain, the money raised in the ICO will be used primarily for research to help increase the efficiency of renewable energy in electricity generation and how this can be applied in crypto-mining. Secondly, the aim is to invest money in using these renewable sources to generate energy.The token that is being offered in this ICO is called VENUS, is a token created with the standard ERC-20 of the Ethereum network and will allow its holders to acquire the energy that is produced through renewable energy sources. Likewise, with the token, mining capacity can be acquired within the VenusEnergy platform and, according to what developers explain, when paying with the token for this mining capacity, important discounts will be obtained that will be between 20% and 30%.In the PreICO the price was 1 VENUS per 0.00000920 ETH and in the ICO a price of 0.000029 ETH per 1 VENUS has been established. The minimum investment is set at 0.08700000 ETH, which is equal to 3000 VENUS. Developers are only accepting ETH as a payment method and expect to raise a minimum of $500,000 and a maximum of $50 million. They are also accepting donations to DASH, ETC, LTC, and BTC on their website.The VenusEnergy ICO is being developed in Lithuania and is composed of 7 developers and 3 consultants.Among the most outstanding members we find Arnoldas Belozaravičius, the CEO of this Project. An entrepreneur who has taken great care to determine the scope of renewable energy.Valdas Lukauskas will be the COO and the computer developer of the Project will be Roman Lanskoj. The CFO of the project will be Tomas Ališauskas.Among the advisors we will see Indrė Lukošiūtė, an expert in economics who will help with the financial aspect of this project.Do they own a Minimally Viable Product (MVP)? No, according to the official project website the initial platform will be launched shortly.According to the Roadmap that shows the project, the idea will be fully developed in the 4th quarter of 2019. For the first quarter of 2019, the project is expected to begin and the construction of structures for the generation of renewable energies is expected to begin. Already by the 4th quarter of 2019 they expect to have the production plants ready and to offer the production of energy to all interested public.Despite the fact that the cryptomonedas have been established as a decentralized project, mining has not been shown as such, and the energy costs involved in maintaining it has been a determining factor for it to continue to be concentrated in a specific and limited community. A problem that many critics and critics of crypto coins have exploited to conclude that these coins are not viable in today’s trade.However, if it is possible to determine a means of energy production at a low cost and to allow the entire public to have access to that energy, the real decentralization of the crypto currencies would be achieved and thereby give more possibilities to this technology. It is precisely the goal of VenusEnergy , to establish a method for anyone to access renewable energy and with them acquire a much more profitable power of mining and on a larger scale.In the Whitepaper we have not found the so-called “Tokenomics”, we could only observe data such as the number of tokens created and the proportionality that is being distributed between the ICO and other elements of the project. This information is fundamental for the investor since it allows him to better understand the financial aspects of the project.Also, there is not enough information about the development that they hope to complete, aspects such as, in which places they will install the renewable energy sources nor the costs that these sources can generate for the company in charge of the project. Certainly, an installation of this caliber is costly and requires financial and structural planning for development to take place in the best possible way.Descripción: VenusEnergy wants to apply the Renewable Energies to economize and to give accessibility to the mining of crypto coins, at the same time that it contributes with the care of the environment.VenusEnergy offers a solution to such an important element as mining in the world of crypto coins. Its aim is to make crypto coins more successful within society and to enable them to adapt to today’s energy demands. Possession of the token can be profitable for those who are fully engaged in crypto-mining, considering that mining power would be acquired at a lower cost.Lover and enthusiast of the ICO. I firmly believe that the blockchain will be established and will change for the better much of how we do things. Advisor and investor.Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *The main objective in todoicos.com is to offer guides, tutorials and analysis of the most prominent ICO in this market.We are a community that is passionate about ICOs and everything to do with blockchain, criptomoney and new financing systems for any type of project.Todoicos.com is only an information website. We are not regulated brokers or financial advisors. No analysis, news or information on the web can guarantee benefits. The analyses found here are the opinions of their authors. Todoicos.com is not responsible for any loss or bad investment that may result from any information or advice. loss or expense that may result from following our advice. In this website we offer advertising services, so it is possible that you may find links or information for which we receive compensation. Do not browse this website if you do not agree.Copyright © 2018 · Aviso legal · Política de privacidad y política de cookies

Major cryptocurrency exchange, Binances co-founder He Yi has said that the exchange has learnt from Libras mistake and will be doing things differently for the launch of Venus, its own independent regional version of Libra. The strategy Binance is adopting is to make Venus, government and regulatory compliant. While this sounds simple, given the challenges Facebooks Libra has faced, it might be easier said than done.Binances Venus Might Face Regulatory Problems Last week, Binance unveiled plans to develop stablecoins, which, unlike Bitcoin and other cryptocurrencies, will be backed by various fiat currencies. Yi admits that the idea behind Venus was inspired by Facebooks Libra and it has learnt from the various regulatory issues Libra has faced from its announcement date.Speaking to Bloomberg, Yi said the exchange would ensure that it complies with regulations in any country it plans to launch in. If we want to launch Venus in a country, well make sure it complies with regulations, she said.Facebooks proposed cryptocurrency, Libra has faced huge resistance from governments around the world and come under increased scrutiny from various regulatory bodies. President of the United States, Donald Trump made scathing comments about cryptocurrency after Facebooks announcement of Libra. According to the President who reiterated his stance that bitcoin and cryptocurrencies are not money and are also too volatile, Facebooks Libras virtual currency will have little standing or dependability.Libras announcement may have also spurred Chinas Central Bank PBoC to hasten the launch of their own fiat-backed digital currency.Crypto researcher and founder of TokenInsight Hu Tao, however, thinks that Venus will face the same problems Libra is facing because governments are still wary and skeptical In theory, Binance will face the same challenges as Facebook. So far, regulators around the world cant gauge precisely the potential risks stable coins will bring to the financial systems, and that is why they are very careful about Libra-like currencies, Tao said.A Conservative Approach Binances major strategy to avoiding the troubles currently faced by Libra is to ensure that their project, Venus, is compliant with the regulations in various countries. The co-founder says that Binance will adopt a more conservative approach in gaining acceptance for the Venus project from governments and regulatory bodies. The project, Yi said, will focus more on meeting regulatory standards than technological developmentsBinances stance on regulatory compliance for the Venus project is indicative of the exchanges willingness to grow government relations, compared to how it has operated in the past. The exchange which operates out of Malta has in the past avoided countries with strict regulations; it even left China to set up base in Malta.Binance will not be using its already existing blockchain, Binance Chain, for Venus as it plans on having an open-sourced blockchain for the currency. This, they hope, will attract more partners for the Venus project. While there is no definite launch date for the currency, Yi said that more updates and partnerships will be released in the coming days.The post This is How Binance is Planning to Get Governmental Acceptance for Venus appeared first on Coingape.

Heads turned throughout the cryptoeconomy earlier this year when social media giant Facebook unveiled plans for its Libra stablecoin. Heads are turning again now that the crypto spaces own giant brand, Binance, just revealed its own project Libra-inspired project.Announced on August 19th as an initiative to create local stablecoins pegged to currencies from around the world, the open blockchain project will serve as the foundation for these new regional fiat-pegged digital assets.Notably, Binances Chinese announcement went into further detail than the English one; the Chinese version specifically likened Venus to an independent and autonomous, regional version of Libra, a detail that was lacking in the English copy.The Malta-based exchange said the blockchain initiative would be generally focused on financial independence, namely to empower developed and developing countries to spur new currencies. To accomplish that mission, Binance said it wanted to create new alliances and partnerships with governments, corporations, technology companies, and other cryptocurrency companies.The unicorn company noted that Venus wouldnt be its first stablecoin rodeo and highlighted the work the firm has done through Binance Chain to create reliable on-chain fiat currencies like the pound-pegged (BGBP). In other words, the exchange feels completely comfortable moving forward on Venus and has the resources and know-how in place to do so.Binance will provide full-process technical support, compliance risk control system and multi-dimensional cooperation network to build Venus, leveraging its existing infrastructure and regulatory establishments, the exchange said.Binance is planning to launch a project similar to Facebooks Libra.We are entering a new world.One where true competition of digital and fiat currencies rages on across jurisdictions.Things are going to get very interesting. Pomp (@APompliano) August 19, 2019Commenting on the news later, Binance chief executive officer Changpeng Zhao suggested Venus was hardly a death knell for Libra and could actually help pave the way for the Libras eventual arrival:[Were] Pushing adoption, yes. Domination, no. Always happy to co-exist. In fact, this should help Libra, if you think about it. Will leave it at that.A Tale of Two Announcements Dovey Wan, a partner at cryptoasset fund Primitive and a Chinese speaker, outlined in the wake of the Venus reveal how its English announcement read like a simple press release while the Chinese version read like a political manifesto.The Binance "Venus" Chinese announcement has much richer context than the English one, if read it side by side, it's a quite a significant difference IMO here are some outstanding differences in the Chinese one which is not in the English version, thread https://t.co/TEU90cCV5Kpic.twitter.com/URU4xFD98K Dovey Wan (@DoveyWan) August 19, 2019To this end, Wan speculated that the Chinese document was aimed directly for Chinese regulators as a VERY BOLD message.Its Binances dream to break the financial hegemony and reshape the world financial system, Wan translated from the Chinese.If Wans speculation is on the right track, such a message comes as an interesting time. Rumors and reporting in recent weeks have indicated that Chinas central bank, the Peoples Bank of China (PBoC), has been exploring a digital version of the yuan.Some of the ensuing chatter including PBoC officials comments on Facebooks Libra led some analysts to wonder if the bank would use blockchain technology to underpin a digital yuan. However, new patent applications suggest the project wouldnt be an actual cryptocurrency.The Libra Sparked Activity, And Were All Still Responding Love it or hate it, the Libra stablecoin got stakeholders inside and outside of the cryptoeconomy considering the cryptocurrency space like never before. From the PBoC to American regulators, many different international bodies have been racking their brains over project.For example, reporting broke over the weekend that U.S. lawmakers would be visiting with financial officials in Switzerland to. Thats because Facebook has planned to base Libras administrative foundation in the central European country.What will come of the meeting remains to be seen. But that news and Binances Venus are only the latest dominos to drop around Facebooks stablecoin, though they certainly wont be the last. Its possible Venus beats Libra to market just on the basis of Facebook getting slowed down from being so large and having so much regulatory baggage.Download our Free Cryptocurrency Books Signup to download our eBook Collection.We will also send our weekly newsletter on a Friday lunchtime with the latest Crypto News & topics from Blockonomi. No Spam, ever.You will receive 3 books: Bitcoin, Ethereum & Lightning Network + All Future Books.You have Successfully Subscribed!

Cryptocurrency exchange Binance has announced plans to launch an open blockchain project called Venus to facilitate the development of localized stablecoins around the world. The exchange said that it hopes to partner with governments, tech companies, and other cryptocurrency businesses to help empower nations to create new currencies.In an announcement on the Binance website, the company noted its experience with Binance Chain and stablecoins:With its existing global blockchain ecosystem, Binance has already reserved its public chain technology and cross-border payment system for secure operations of new stablecoins. Since its launch last April, Binance Chain has been running securely and robustly and has issued a range of stablecoins, including a BTC-pegged stablecoin (BTCB) and the Binance BGBP Stable Coin (BGBP) pegged to the British Pound. Binance will provide full-process technical support, compliance risk control system and multi-dimensional cooperation network to build Venus, leveraging its existing infrastructure and regulatory establishments.

Viberate continues to tread on its path towards the end game – that is to offer any musician on the planet the opportunity to open a profile for free and start offering gigs to event organizers in exchange for crypto coins such as Bitcoin, Ether, or their very own Vibe. Viberate’s co-founder UMEK talks about the beginnings and the vision they’re after: “We started as a simple DJ ranking service because we wanted to know where I rank in terms of online popularity, compared to other DJs. The site took off and after a year we had 30 thousand user-generated profiles in the database. We raised some money, employed a really smart team of developers and project managers and we took it to another level. Now we won’t stop until we create a standard, so soon you won’t get anywhere as an artist without having a profile on Viberate. It will become the musical ID for musicians, venues, agents and everyone else working in the live music industry.” Following their goal to list and map the entire global music industry, Viberate just added 50 thousand music venue profiles and more than 200 thousand Event profiles to its crowdsourced database. Venues and events joined over 120 thousand musician profiles already online. They say they are not stopping here. Soon the service will introduce profiles for booking agencies and event organizers, getting everyone under one roof. The database is open for public, so anyone can add new profiles and artists can claim existing ones. Vetting a project before the crowdsale is always hard, especially when you don’t get to meet the founders in person. That’s why Viberate’s founders prepared a short video, where they talk about the potential and reasons why they decided to build the platform. The video also features Bitcoin legend, Charlie Shrem along with a couple of other advisors and early backers.

Viberate continues to tread on its path towards the end game that is to offer any musician on the planet the opportunity to open a profile for free and start offering gigs to event organizers in exchange for crypto coins such as Bitcoin, Ether, or their very own Vibe.Viberates co-founder UMEK talks about the beginnings and the vision theyre after: We started as a simple DJ ranking service, because we wanted to know where I rank in terms of online popularity, compared to other DJs. The site took off and after a year we had 30 thousand user-generated profiles in the database. We raised some money, employed a really smart team of developers and project managers and we took it to another level. Now we wont stop until we create a standard, so soon you wont get anywhere as an artist without having a profile on Viberate. It will become the musical ID for musicians, venues, agents and everyone else working in the live music industry.Following their goal to list and map the entire global music industry, Viberate just added 50 thousand music venue profiles and more than 200 thousand Event profiles to its crowdsourced database. Venues and events joined over 120 thousand musician profiles already online. They say they are not stopping here. Soon the service will introduce profiles for booking agencies and event organizers, getting everyone under one roof. The database is open for public, so anyone can add new profiles and artists can claim existing ones.Vetting a project before the crowdsale is always hard, especially when you dont get to meet the founders in person. Thats why Viberates founders prepared a short video, where they talk about the potential and reasons why they decided to build the platform. The video also features Bitcoin living legend Charlie Shrem along with a couple of other advisors and early backers.More information about the crowdsale:www.viberate.io You must be logged in to post a comment.Want Us To Review Your Crypto Business? Email us at support@livebitcoinnews.comBitcoin is poised to revolutionize the way individuals and companies do business online. Make sure you dont get left behind by learning the basics of bitcoin in our bitcoin education center.What is bitcoin? 2018 Live Bitcoin News. Created by Svecc Design.

The Facebook regulatory battles over the Libra network is hard to miss. Those interested in creating their own cryptocurrencies similar to the Libra network Libra Network are being forced to rethink their plans. Among them is Binance , a Malta based...More articles about Binance El principal intercambio de criptomonedas Binance ha lanzado una plataforma de desarrolladores que tiene como objetivo atraer a los desarrolladores de blockchain al ecosistema de Binance. Apodada Binance X, la plataforma ser til para cualquier...This statement became relevant when one of the world's largest crypto exchanges, Binance , announced that its platform had got a crucial lesson from Libra's push back situation. The exchange authorities revealed that they have become cautious about the...El intercambio de criptomonedas Binance ha presentado su nueva oferta de plataforma para desarrolladores llamada Binance X. Esta nueva iniciativa impulsada por desarrolladores de Binance se centra en fomentar la innovacin en el ecosistema...Binance co-founder He Yi has confirmed that his exchange plans to engage with regulators to obtain regulatory buy-in, to avoid the type of regulatory pushback Facebook has received since announcing its Project Libra plans, Bloomberg reports. According to...The new platform comes from crypto exchange Binance. The goal of the platform is to provide a place for developers to work on open-source blockchain technology. Binance wants to grow this platform and is offering a fellowship program to developers.La plataforma de intercambio que capitaliza el mayor volumen de operaciones comerciales en el mercado, Binance , anunci sus planes para impulsar el lanzamiento de una nueva plataforma Blockchain de cdigo abierto, con nfasis en la educacin.This addition by Binance has added a boost to the two cryptos- Monero and Neo. Binance has especially been quite active in the crypto sphere in recent times. Although, earlier this month, the crypto exchange had to face a stiff situation when a big scale...Binance said it will be learning from Facebook's mistakes with Libra and taking an even more conservative approach with its stablecoin, Venus. Besides compliance, it differs from Libra in that it will primarily focus on partnering with governments in Asia.by Bruce Ng. Just last week, a new Libra competitor burst onto the scene: Binance announced that it will launch Venus, an initiative to develop localized stablecoins and digital assets pegged to fiat currencies across the globe. The English language...One of the world's largest cryptocurrency exchanges said it has learned a valuable lesson from the push back on Facebook Inc.'s Libra and will take a different approach as it works on a rival project. Malta-based crypto platform Binance is ready to engage...Binance , the global cryptoasset exchange headquartered in Malta, announced on Thursday its margin trading offering has added NEO and monero (XMR) to its list of tradeable assets. The exchange also added NEO and XMR as new borrowable assets...As per the company announcement, Binance X would majorly focus on helping developers learn and collaborate in the blockchain ecosystem. Moreover, the platform also plans to help developers to engage with its native offerings like Binance Chain.Cryptocurrency exchange Binance has said that it will learn from the regulatory issues that have plagued Facebook's proposed Libra digital currency. In an interview, Aug 29, Binance co-founder He Yi claimed that the company will engage with regulators from...This addition by Binance has added a boost to the two cryptos- Monero and Neo. Binance has especially been quite active in the crypto sphere in recent times. Although, earlier this month, the crypto exchange had to face a stiff situation when a big scale...For software engineers who're interested, Binance X provides a fellowship program that's geared toward research and development (R&D) of open-source blockchain platforms. Over 40 project managers are now working as Binance X fellows, however...One of the world's largest cryptocurrency exchanges, Binance , will take a 'more conservative' approach that prioritises regulatory compliance in the development of its own digital currency project, Venus. According to Bloomberg, Malta-based crypto platform...Binance , the leading crypto exchange, has launched its latest ecosystem 'Binance X' to provide more opportunity for developers in the cryptocurrency. The Malta-based firm announced that it would fund over 40 developers to build open-source crypto software...Facebook has been seeing a lot of regulatory issues from the day they announced the launch of Libra. Keeping this in mind the Malta-based cryptocurrency exchange, Binance planned for a different approach to launch it's cryptocurrency Venus.Malta-based cryptocurrency exchange Binance has said it will take a more conservative approach that prioritizes regulatory compliance in the development of its own digital currency project, Venus, according to Bloomberg. Why it matters: Binance , the...Binance isn't an our way, or the highway kind of company. Accordingly, the Malta-based cryptocurrency exchange giant just launched a new developer initiative that's opened the doors for talented builders to create mainstream products on blockchain tech...Following the launch of the Venus Initiative earlier this month, Binance has another new project: on August 29th, the Malta-based cryptocurrency exchange announced the launch of Binance X, a new platform for developers that was created as part of an effort...Just days after announcing its digital asset lending platform, one of the world's largest cryptocurrency exchanges Binance has announced the launch of another new platform, this time targeted at blockchain developers. In a blog post yesterday, Binance laid...Trending now

By CCN Markets: Binance has announced today its Venus stablecoin project that many deem as a competitor to Facebooks upcoming Libra crypto. But CEO Changpeng CZ Zhao thinks otherwise.Venus, the regional LibraWhile Facebook seeks to conquer the global financial world with Libra, wants Venus to stay in the regional waters instead, the company said in a blog post.According to the announcement, Binance will help the development of localized fiat-pegged and other digital assets as part of its Venus project.To facilitate the growth of the project, Binance is looking to create new partnerships with governments, companies, and other organizations involved in the blockchain space.While this hasnt been confirmed yet, it appears that the Malta-based company will develop Venus on the Binance Chain where it already created multiple stablecoins, including the bitcoin-pegged stablecoin BTCB and the GPB-pegged BGBP crypto.details will come soon. We know Binance Chain best, of course. CZ Binance (@cz_binance) Binances CZ: Venus should help Facebooks coin instead of being a competitorMany in the crypto community have stated that Venus is Libras potential competitor.CZ thinks otherwise, saying that Binance doesnt want to dominate the stablecoin market with Venus. According to CZ, the goal with Venus is to boost crypto adoption, and the exchanges upcoming project can potentially help Libra.Pushing adoption, yes. Domination, no. Always happy to co-exist.In fact, this should help Libra, if you think about it. Will leave it at that. https://t.co/HLSywLb2mi CZ Binance (@cz_binance) And CZ could be right here.Velocity Markets Head of Business Development & Strategy Chris Wittenborn told CCN:Assuming full legal and regulatory compliance, anything that helps regulators become familiar with this ecosystem is a benefit for both Binance but also Libra as they might be able to learn from some of the successes and failures of Binance.According to Monica Eaton-Cardone, the owner and COO of the fintech cybersecurity company Chargebacks911, healthy, mutually beneficial competition between crypto companies will grow the size of the industry by increasing awareness and utility as well as normalizing its usage.Remember the classic line in all the old cowboy movies, This town aint big enough for both of us!? Thats how it is in the industry right now, only we dont know how big the town will be or how fast its going to grow, she told CCN.Libra is the crypto of the corporate and tech world with the goal of serving the companys stablecoin to millions of people as part of a global payment system Facebook is building.While Libra is an open blockchain project, it is centralized and owned by Facebook, facing harsh scrutiny due to its massive potential impact on the world economy as well as the privacy scandals of the company.On the other hand, Venus is a crypto project that focuses on regional markets instead of serving the global market with one coin. Therefore, this could mean that Binance will create stablecoins for individual nations all over the world for locals to use.As the two crypto projects serve two different purposes, people can use Venus for local national currency payments and Libra for global transactions side-by-side. As both companies have ambitious plans for their upcoming crypto projects that could disrupt the world economy and the finance world, the two together will certainly boost crypto adoption in case they are proven successful.This article is protected by copyright laws and is owned by CCN Markets.Categories: CryptoCurrencyCryptoNewsTags: binanceBNBbtccryptocurrencyCryptocurrency NewsCZEthIndiaLibraLTCnewsStablecoinsVenusSignup on Binance Price Rates

One of the largest exchanges in the world is taking on social media behemoth Facebook (). Well, sort of. On Monday, August 19, announced it will be launching the Venus project.Heres what we know and why is challenging Mark Zuckerbergs billion-dollar company by doing so.Binance Launching Venus ProjectThis morning, broke that ; the initiative is an attempt to create localized stablecoins as well as digital assets. According to the announcement, the Venus blockchain project will leverage the exchanges infrastructure. It will do the same with its extensive user base and established compliance measures. Many think Binance is now challenging Facebooks Libra, as the Venus initiative has been defined as a regional version of Libra.We believe that in the near and long term, stablecoins will progressively replace traditional fiat currencies in countries around the world, and bring a new and balanced standard of the digital economy, explained Binance co-founder He Yi. Libras are growing at an exponential rate and will reshape the world financial system, bringing changes more than the internet. Instead of resisting change and losing the opportunity, it is better to embrace the change.Moving forward, Binance has said that it welcomes anyone with an influence on a global scale to work with them on the Venus blockchain project. We encourage like-minded people and organizations to contact us and discuss the infinite possibilities of the digital world together, the announcement read.>> TakeawayBlockchain is a technology trend that is likely going to be around for years, with its capabilities endless. And this recent move by Binance shows that. But what do you think? Do you think Binance should launch the Venus blockchain project? Do you think it will give Facebooks Libra a run for its money? Let us know your thoughts in the comments below. And dont forget to follow along with this story in the weeks to come.Featured image: PixaBayMassive Indian Telecommunication Provider Develops Blockchain NetworkBlockchain 101 | What is a Digital Ledger?If You Liked This Article Click To Share Leave a Comment