#Blockchain New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch

New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch

There’s a new bitcoin cash wallet under construction called Qart, a light client that provides the ability to create human-recognizable QR codes using any image. The wallet is currently available for Android devices in its beta phase, but users can experiment with the application before the official launch.

Also read: Report: Emerging Markets See Sharp Growth in Cashless Transactions

Qart Personalizes QR Codes for Bitcoin Cash

New Qart Wallet Gives Bitcoin Cash QR Codes a Personal TouchKim Jinyrul is a developer from South Korea who recently published the beta version of a new bitcoin cash (BCH) wallet that offers the ability to modify address QR codes. Jinyrul thinks that QR code technology used in traditional cryptocurrency wallets needs to change so they become more recognizable and personal to the owner. Qart wallet was created to offer this feature to bitcoin cash users and the platform’s addresses can be tied to a customized QR code with a picture of anything the user desires. In a recent interview with the blogger Jared Schlar, the Qart wallet developer explained that the idea was conceived so people can recognize which wallet is theirs by identifying the pictures attached to them.

“As you know, a person can not see any information by just looking at a QR code. I thought it would be more interesting and meaningful to share QR if it could show the personality of the owner,” Jinyrul detailed in his interview with Schlar.

New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch
The main account and settings section on Qart wallet.

Experimenting With Qart’s Beta Software

New Qart Wallet Gives Bitcoin Cash QR Codes a Personal TouchAfter reading about the Qart wallet, news.Bitcoin.com decided to test the BCH client and made a few custom and recognizable QR codes. The wallet is currently available on the Google Play store for Android mobile devices and tablets, but the Google store warns the app is “unreleased.” This means the platform is still in its beta phase, but can still be downloaded and tested. After opening the platform, the user must agree to a disclaimer. The statement explains the wallet needs to be backed up as it is a non-custodial client and also details the app is still in its nascent stages.

The wallet then creates a BCH wallet, which takes about 30 seconds, and the user is granted access to the first account. Like many other wallets out there, the Qart client syncs with the Bitcoin Cash chain in order to identify transactions. This process took about eight minutes to complete and subsequently less time after the first connection. The Qart wallet is very simple looking and akin to other BCH wallets like the Handcash and Cashpay platforms.

After backing up the seed phrase and observing the main account, there is a little editor pencil on the top right-hand side of the screen. This pencil tab allows you to create a custom QR code for any address on the wallet and many different addresses can be generated. At first, the wallet supplies the address with a generic bitcoin cash QR code, which can also be tethered to the wallet’s addresses. If the user wants to upload a custom image, they simply press the editor pencil and upload a fresh picture. The Qart wallet needs permission to access device files and the camera in order to execute this process.

New Qart Wallet Gives Bitcoin Cash QR Codes a Personal Touch
Experimenting with Qart’s beta wallet and creating a few customized QR codes.

BCH Developers Are Using Handles and Recognizable QR Codes to Entice the Masses

Pictures can be cropped and the amount of QR code pixels can be chosen as well for a variety of different looks. After saving the custom QR codes, the user can share them online through the wallet or save the image for another use case. After making a few Banksy-esque QR codes, the images were tested with the Bitcoin.com Wallet and the codes scanned without error.

There’s been a lot of innovation in this regard, with BCH wallets using unique ways to make the software more friendly to mainstream users. Many of these concepts are using handles or names tied to a wallet’s protocol instead of using long alphanumeric addresses. Human recognizable QR codes definitely add a personal touch and provide a unique way of identifying BCH addresses.

What do you think about the Qart wallet? Let us know what you think about this subject in the comments section below.

Disclaimer: Bitcoin.com does not endorse this product/service. This application is in beta and not the official launch. Review editorials are intended for informational purposes only.  Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com or the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images via Qart wallet, Banksy art, and Jamie Redman.


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#Blockchain Bitconnect Faces Consolidated Class Action Complaint

Bitconnect Faces Consolidated Class Action Complaint

More than a dozen lawsuits targeting Bitconnect have been merged into a single case, following the submission of an Amended Consolidated Class Action Complaint on Thursday. The newly combined complaint has been filed with the U.S. District Court for the Southern District of Florida.

Also Read: Venezuela Authorizes 6 Exchanges to Sell National Cryptocurrency Petro

Amendment Combines
All Lawsuits Into a Single Case

Bitconnect Faces Consolidated Class Action ComplaintThe consolidated complaint comprises a class action suit that has been filed on behalf of a range of entities and individuals. All parties in the suit claim to have suffered financially after transferring fiat currencies and cryptocurrencies to Bitconnect to invest in BCC tokens, as well as the Bitconnect Investment Programs.

According to attorney David Silver of law firm Silver Miller, which has been named the “Class Counsel” of the case, the consolidated complaint combines all of the lawsuits that have been filed against Bitconnect into one suit. Miller said that the new consolidated lawsuit also names Bitconnect owners and promoters that were not previously targeted in the initial legal complaints.

“As more information has become available, we have learned about more individuals involved in the rampant fraud associated with Bitconnect,” Silver explained. “The Amended Consolidated Class Action Complaint highlights those actors who participated in the creation of Bitconnect and the promoters of Bitconnect. The amount of fraud, and the amount of investment loss in such a short period of time is staggering. We hope to move the lawsuit along as fast as possible and hold as many people accountable both in the United States and abroad.”

Plaintiffs Accuse Youtube of Negligence

Bitconnect Faces Consolidated Class Action ComplaintThe amended lawsuit claims the Bitconnect Lending Program and the Bitconnect Staking Program were “fraudulent Ponzi/pyramid schemes.” It also accuses the company of using “multilevel affiliate markets” to promote its investment programs.

“Several of the promoter defendants had partnerships with Youtube pursuant to which the Bitconnect Defendants disseminated fraudulent and harmful content to unsuspecting victims across the globe,” the law firm stated in the amended filing. “Youtube was negligent in failing to warn those victims of the harmful content, for which Youtube compensated their creators and publishers.”

In addition, the legal team claimed that the company “cloaked” its promotional materials in “technological sophistication and jargon” to run a deceptively “simple” fraudulent operation. “Victims would invest in the Bitconnect Investment Programs after they were driven to Bitconnect as a result of profitable partnerships the promoter defendants had with Youtube,” it said. “Bitconnect would then pay existing investors with new money from new investors, who were in turn expected and incentivized to get more new investors to produce more new money for Bitconnect.”

The plaintiffs seek to recover all of the funds they claim to have lost. In a statement, Miller said such an outcome would be “ideal.”

Do you agree that Youtube was negligent in compensating Bitconnect promoters and failing to warn prospective investors of their “harmful content?” Share your thoughts in the comments section below!


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#Blockchain Marks Jewelers Now Accepting Bitcoin Cash for Payments

Jewelry Maker Marks Jewelers Now Accepts Bitcoin Cash for Payments

U.S. jewelry retailer Marks Jewelers has started accepting payments in cryptocurrency, including bitcoin cash. Shoppers can now pay for luxury goods such as fine diamonds, watches and engagement rings using BCH and seven other digital currencies.

Also read: Report: Emerging Markets See Sharp Growth in Cashless Transactions

Retailer to Cut Costs with
Low BCH Transaction Fees

In addition to BCH, the company is now accepting payments in cryptocurrencies such as bitcoin and ether. “This will allow us to make our fine jewelry available to the global market while paying lower fees and avoiding chargebacks,” Joshua Rubin, director of marketing at Marks Jewelers, said in an online statement. Marks Jewelers Now Accepting Bitcoin Cash for Payments

Marks Jewelers is already one of the biggest jewelry retailers in the U.S. market. But Rubin said that the new payment methods, established in partnership with e-commerce platform Shopping Cart Elite, will help to expand access to its jewelry range for buyers throughout the world. The Pennsylvania-based company, which has sold diamonds and jewelry for 35 years, said that the removal of currency conversion charges will help it cut costs. It wants to pass those savings over to jewelry shoppers in the form of lower retail prices.

Cheaper Than Credit Cards

Marks Jewelers joins a growing list of jewelry retailers, including Samer Halimeh New York and Reeds, that are starting to accept payments in cryptocurrencies such as BCH. Bitcoin cash offers fast, reliable and inexpensive transactions compared with traditional means of sending money. Marks Jewelers Now Accepting Bitcoin Cash for Payments For example, credit and debit card providers generally charge fees that are as much as 3.5 percent of every transaction. That compares with transaction fees of around $1 or less for cryptocurrency-based purchases, regardless of the amount of each transaction.

According to Coinline, which provides a directory of merchants that accept payments in bitcoin cash, more than 210 retailers throughout the world now handle transactions in the cryptocurrency. Australia is home to the greatest concentration of merchants that welcome BCH as a form of payment, with about 80 locations in total accepting it.

What do you think about using cryptocurrencies such as BCH to pay for retail goods? Let us know what you think in the comments section below.


Images courtesy of Shutterstock.


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#Blockchain US Marshals Service Announces Auction of 660 BTC

US Marshals Service Announces Upcoming Auction of 660 BTC

The United States Marshals Service (USMS) has announced an auction of 660 BTC that is scheduled to take place on Nov. 4. Under the auction rules, interested participants must formally identify themselves to the USMS and submit deposits of $200,000.

Also Read: Trump Tariffs to Impact Chinese Mining Hardware Manufacturers

USMS to Auction Forfeited BTC in Seven ‘Blocks’

US Marshals Service Announces Upcoming Auction of 660 BTCThe auction is scheduled to take place across two “series” and seven “blocks.” The “Series A” portion is set to comprise six individual auctions of 100 BTC each, while the “Series B” round will involve a single auction for the remaining 60 BTC. The bitcoins were confiscated from undisclosed parties in various federal criminal, civil and administrative cases, with many of them forfeited to the Drug Enforcement Administration and the Federal Bureau of Investigation.

Bidder registration will open at 8:00 a.m. EDT on Oct. 22 and is scheduled to close at noon EDT on Oct. 31. Bidders will not be permitted to view competing bids and will not be able to change the value of their bids after submission.

Deposits to Be Returned to Ineligible Bidders

US Marshals Service Announces Upcoming Auction of 660 BTCThe USMS is scheduled to notify all prospective bidders of their eligibility to participate in the auction process by no later than 5:00 p.m. EDT on Nov. 1. Applicants who are deemed to be ineligible to participate in the auction will have their deposits returned to them. The deposits of participants whose bids are not selected as winning bids will also be returned.

In addition, the USMS states that “bids that are contingent on financing terms of any kind will not be considered.” In addition, it requires that “all bids must be made in U.S. dollars.”

Winning Bidders Expected to
Pay BTC Transfer Fees

US Marshals Service Announces Upcoming Auction of 660 BTCThe USMS will retain the deposits of the winning bidders and credit them toward their purchases. Winning bidders who fail to finalize their transactions will forfeit their deposits, as long as the USMS is not at fault.

The USMS also notes that “any transfer fees associated with the transfer of the bitcoins will be paid by the buyer.” However, buyers will be given the chance to choose the fees that are charged in the transfers.

The USMS will start to return deposits to auction participants as soon as the bitcoin transactions are finalized. It adds that it aims to process all returns within five business days. However, it acknowledges that return times could take slightly longer depending on how many people participate in the seven auction blocks.

What is your response to the United States Marshals Service’s upcoming BTC auction? Share your thoughts in the comments section below!


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#Blockchain Report: Emerging Markets See Sharp Growth in Cashless Transactions

Report: Emerging Markets See Sharp Growth in Cashless Transactions

South Africa is the most cryptocurrency-friendly country in Africa, according to the 2018 World Payments Report by French banking group BNB Paribas and IT company Capgemini. Compared to other major economies on the continent, South Africa has allowed digital currency-based payments, trades and investments to flourish almost unhindered.

Also read: African Cryptocurrency Exchanges Forced to Step-Up Security

  As Digital Payments Rise, Leading African Economies Trade Cautiously on Cryptocurrency

The report, released Oct.17, concluded that digital payments, including cryptocurrencies like bitcoin, have grown sharply all around the world, and “are experiencing a boom, driven by developing markets”, including Africa.

Report: Emerging Markets See Sharp Growth in Cashless Transactions

Ghana and Kenya, the 11th and 9th biggest economies in Africa, respectively, are still in the consultation phase. Nigeria, the continent’s biggest economy, with a GDP of $376 billion, is opposed to virtual currency, officials have said. The central banks of Kenya and Nigeria have both likened cryptocurrencies to a “pyramid scheme.”

“The central bank of Nigeria has also imposed a complete ban on bitcoin and the likes, while Brazil also has banned cryptocurrency,” said the report, which detailed that global cashless transactions rose 10.1 percent to 482.6 billion at the end of 2016. Non-cash transactions include checks, debit cards, credit card payments, credit transfers and direct debit transactions.

South Africa Leads in Crypto Regulation, Adoption and Development

Africa has steadily accelerated the switch to modern technologies. Cellphone-based payments have expanded particularly fast in countries like Kenya, Uganda and Zimbabwe. But it is South Africa, the continent’s most sophisticated economy, that leads the pack where cryptocurrency regulation, adoption and development is concerned.

The economy is home to a number of bitcoin ATMs and digital currency exchanges – including Luno, which has two million customers throughout the world – allowing people to buy and sell digital coins in the local fiat currency, rand. Domestic financial companies, including banks, are starting to step into the space. On Monday, Standard Bank said it is looking to establish a number of events to help explain the benefits and risks of cryptocurrency and the blockchain.

South Africa Most Cryptocurrency Friendly Country in Africa: Report

This is all thanks to the open-mindedness of the South African Reserve Bank (SARB). Although the regulator does not recognize cryptocurrency as legal tender, it has not prevented trade in such. In April, the bank announced plans to create guidelines for cryptocurrency markets in the country. SARB has also tested an inter-bank settlement system code named Project Kohka, which runs on the Ethereum blockchain, aiming to speed up payments.

Emerging Markets See Sharp Growth in Cashless Transactions

Meanwhile, the World Payments Report – based on data from the World Bank, the Bank for International Settlements and the European Central Bank’s statistical database – showed that developing markets are at the forefront of a global boom in digital payments, with Russia (annual growth of 36.5 percent), India (33.2 percent) and China (25.8 percent) as notable movers in the 2015-16 period.

Mature markets maintained steady growth of more than 7 percent in the period under review. Developing markets are seen growing 21.6 percent, led by Asia at 28.8 percent over the next five years. By 2021, developing markets are expected to account for around half of all non-cash transactions worldwide, overtaking the mature markets for the first time, whose current share stands at 66.3 percent.

Anirban Bose, CEO of Capgemini’s Financial Services, said it is critical for banks to find ways to tap into cryptocurrencies and other non-cash payment methods if they are to remain relevant.

South Africa Most Cryptocurrency Friendly Country in Africa: Report

“With their significant market share in the payments industry and implementation of new technologies, banks are in a unique position to shape the marketplace. They can also create new revenue streams through innovative, collaborative relationships with fintechs and active participation by the broader financial services community,” Bose said in a separate press release.

The report further indicated that high numbers of non-cash transactions can provide benefits to the society, addressing growing challenges of corruption – especially in Africa. This is because non-cash transactions share a positive linear correlation with corruption perception index.

This probably emanates from the fact that digital transactions from financial institutions and mobile money can be more easily traced than cash, hence can allow law enforcement agents to investigate and prosecute the suspicious transactions. The WPR report also noted that the more payments are shifted to cashless instruments, the more likely that huge cash transactions can be “flagged and investigated, reducing the possible means of accepting illicit or fraudulent payments.”

“Governments should create the necessary supply-side push for such transactions by creating the supporting infrastructure, bringing positive change with regulations, and promoting non-cash transations to create a conducive environment for digital transactions to grow,” the report warned.

What do you think about the cryptocurrency landscape in Africa? Let us know what you think in the comments section below.


Images courtesy of Shutterstock.


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

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#Blockchain Trump Tariffs to Impact Chinese Mining Hardware Manufacturers

Trump Tariffs to Impact Chinese Mining Hardware Manufacturers

The escalating U.S. – China trade war threatens to have an adverse impact on the operations of Chinese mining equipment manufacturers, with imports of mining hardware now facing stateside tariffs of more than 25 percent.

Also Read: Former CFTC Chair Advocates ‘Tech Neutral’ Cryptocurrency Regulations 

Harsh Hardware Duties

Trump Tariffs to Impact Chinese Mining Hardware ManufacturersIn June, the Office of the United States Trade Representative reclassified Bitmain’s Antminer S9 as an “electrical machinery apparatus,” rather than a “data processing machine,” subjecting it to a 2.6 percent tariff. But in late August, the administration of U.S. President Donald Trump followed up on that decision by imposing an additional 25 percent tariff on Chinese mining hardware, bringing total tariffs on the Antminer S9 to 27.6 percent.

“All manufacturers of mining rigs based in China will likely be affected by the tariff code change and, in turn, captured by the US trade tariff,” said Ben Gagnon, the co-founder of Hong Kong-based mining hardware developer Lutech.

IPO Prospects of Mining Manufacturers
to be Impacted

Trump Tariffs to Impact Chinese Mining Hardware ManufacturersAnalysts believe the new tariffs could have a negative impact on the planned initial public offerings (IPOs) of Chinese manufacturers Canaan Creative and Ebang International in Hong Kong. In 2017, 8.5 percent of Canaan’s total revenue originated from international markets, while non-Chinese demand accounted for only 3.8 percent of Ebang’s revenue.

Bitmain, however, is believed to be the most exposed of China’s mining hardware manufacturers to the new tariffs. According to its IPO prospectus, approximately 51 percent of its sales came from outside of China in the 2016-17 period. It also said its financials could be impacted by changes to tax rates driven by “economic and political conditions.”

However, Mark Li, senior analyst at Sanford C. Bernstein, said that the company is probably more concerned about rising competition in the mining hardware market. “The U.S. tariff is probably not something on the top of the [Bitmain] management’s minds now,” Li argued.

Do you think that the new tariffs will have a detrimental impact on the operations of China’s leading manufacturers of mining hardware? Share your thoughts in the comments section below!


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#Blockchain A Look at the Gateway.cash BCH Payment Button for Websites

A Look at the Gateway.cash BCH Payment Button for Websites

On Oct. 18, Bitcoin Cash proponents were introduced to a new do-it-yourself BCH payment processor called Gateway.cash. The software allows anyone with a bitcoin cash address to accept payments and donations in BCH by creating an embeddable payment button for any website.

Also read: Infamous Hacker George Hotz Calls Bitcoin Cash the ‘Real Bitcoin’

Testing Gateway.cash: Another Free Bitcoin Cash Payment Button Platform for Website Owners

A Look at the Gateway.cash BCH Payment Button for WebsitesThere’s a new bitcoin cash payment application available to try called Gateway.cash, a program that’s similar to other payment button platforms recently launched like Badger.cash and the Money Button. Gateway was announced this past Wednesday, with its creators explaining that the protocol allows anyone the ability to create a BCH payment button with a valid BCH address and an editable website. After the announcement, news.Bitcoin.com decided to give Gateway a test run to find out how easy it is to create a button and add it to a website.

A Look at the Gateway.cash BCH Payment Button for Websites
In order to use Gateway.cash a public bitcoin address needs to be tethered to the account, plus a strong password.

When entering the website, you’re greeted with a page that asks for a public bitcoin cash address or a previously registered Gateway handle. After entering a public BCH address, the website asks you to create a strong password and from there the site takes you to your account. The Gateway dashboard gives users the option to create a button, view payments, and navigate a settings section. In the settings, users can choose what type of currency they want the software to use as well as tethering a Gateway handle to the registered BCH address. This gives people the ability to sign into the site by using the custom handle instead of adding a long BCH address every time.

A Look at the Gateway.cash BCH Payment Button for Websites
The application allows users to customize the button and payment invoice.

Seeing how my account had not received any payments at the time, there’s really nothing to look at in the ‘view payments’ section. However, if you did collect a lot of payments using the Gateway button then the entire transaction history would be located in this area. Moreover, if a person wanted the Gateway platform to track unpaid or unprocessed payments they could view these instances on the platform. Essentially, this means the visitor may have clicked the payment button by accident or was curious to see what it does, but the platform can still record these pending payments.

A Look at the Gateway.cash BCH Payment Button for Websites
After filling out the customize menu, the generated code will be ready for you to copy and paste.

Next up is creating the button, which is pretty intuitive as all you have to do is fill out the description information tied to the button’s code. Essentially users can customize the dialog title, the text displayed on the button, the amount, the currency type shown on the invoice, and a tethered unique ID for payments sent to this button. For example, the payment ID could say ‘Donation’ or some other descriptive memo. Some of the choices are limited to how many characters can be used. When the button’s text is being customized, the platform has a limit at 25 characters.

A Look at the Gateway.cash BCH Payment Button for Websites

After filling out all the information, an embeddable code is generated below the customization field. To test out the button’s functionality I went to my website builder and pasted the code into an i-frame box and then positioned the button. It’s good to remember that you have to make sure there’s enough room for the entire invoice box after the button is clicked. The invoice prompt window is much larger than the button, so that needs to be taken into consideration during the layout. Following that step, simply preview the website or press publish if you feel the button is exactly as you like it. Web-savvy builders can simply paste the code into the site directly, rather than using a web builder i-frame box.

Gateway Works Well After a Few Practice Runs

The button worked great and when it’s clicked you see a payment invoice with a written BCH address so the person paying can copy and paste the address. There’s also a QR code available, so QR scanning wallets can simply pay the invoice in that fashion as well. There weren’t any issues with the Safari browser giving me an error when I tested the button and the individual paying doesn’t need to sign up for anything to pay the invoice or tip the website.

A Look at the Gateway.cash BCH Payment Button for Websites
Make sure you have enough space on the website to for the invoice window when placing the button.

Overall the process took a bit longer than other buttons to set up for a couple of reasons. It took a minute to figure out how the embeddable code was placed in the i-frame. Secondly, figuring out my website needed to have a lot more space for the invoice window burned a few more minutes as well. The process was pretty self-explanatory for people who know the ins and outs of basic wallet operations. Additionally, the application is just one of many choices out there today giving website owners and content creators the ability to collect bitcoin cash revenue and donations.

What do you think about the Gateway.cash application? Let us know what you think about this subject in the comments section below.

Disclaimer: This editorial should be considered Review or Op-ed material. The opinions expressed in this article are the author’s own. Bitcoin.com does not endorse nor support views, opinions or conclusions drawn in this post. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the Op-ed article. Review editorials are intended for informational purposes only. Neither Bitcoin.com nor the author is responsible for any losses, mistakes, skipped steps or security measures not taken, as the ultimate decision-making process to do any of these things is solely the reader’s responsibility. For good measure always cross-reference guides with other walkthroughs found online.


Images via Shutterstock, and Gateway, and Jamie Redman. 


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#Blockchain Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency Petro

Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency Petro

Venezuela has authorized six cryptocurrency exchanges to start selling its national cryptocurrency, the petro, according to the government’s website. The petro, which recently became a Venezuelan national currency, can now be purchased at the six exchanges, local media report.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Six Websites Authorized to Sell Petro

The Venezuelan government has authorized six websites it claims are cryptocurrency exchanges to market and sell the petro, the country’s new national currency. Noticiero Digital elaborated:

The petro will be available from this Wednesday, October 17, at six exchanges, although President Maduro announced previously that there would be 16 certified companies that could market the digital currency.

The six places are Cave Blockchain (caveblockchain.com), Bancar (bancarexchange.io), Cryptia (cryptiaexchange.com), Amberes Coin (amberescoin.com), Afx Trade (afx.trade), and Criptolago (criptolago.com.ve). Some of them are already advertising the petro on their websites. In his speech earlier this month, Venezuela’s president Nicolas Maduro said that the petro would be available at “the six most powerful [exchanges] in the world.”

Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency Petro
The petro section on Cryptia.

Cryptia’s website lists three cryptocurrencies for trading against BTC — ETH, DASH, and XRP — but with zero trading volumes. “Buy and sell petros through our platform,” the section on its website describing the petro reads, adding (translated from Spanish):

Access the cryptocurrency [petro] in bolivares and exchange them for bitcoin, ethereum or American dollars.

Amberes Coin describes itself as a cryptocurrency exchange “authorized by the Venezuelan State for the purchase and sale of the petro, bitcoin, ether and any digital assets” that are allowed by the country’s regulation. Afx Trade explained that it is a regulated cryptocurrency exchange platform in Venezuela for buying, selling, and safeguarding “digital assets inside and outside the national territory.”

Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency PetroMaduro’s government released a new whitepaper for the petro earlier this month, bearing striking resemblance to the whitepaper for another cryptocurrency, DASH.

In addition, the petro is no longer only backed by oil, as it was first described in December of last year. The new whitepaper explains that the petro is now backed by 50 percent oil, 20 percent gold, 20 percent iron, and 10 percent diamond.

In April, Maduro announced that he had “authorized the certification” of 16 exchanges for the petro. Noting that there are currently only six exchanges authorized, Noticiero Digital pointed out that Afx Trade was not included in the initial list of 16 exchanges.

Regulating Crypto Industry in Venezuela

Venezuela Authorizes 6 Exchanges to Start Selling National Cryptocurrency PetroIn Venezuela, the National Superintendency of Criptoassets and Related Activities (Sunacrip) is responsible for regulating cryptocurrencies and all crypto-related activities.

Its website details:

Exchanges need licenses issued by the Venezuelan State in order to operate in Venezuela. Its reason lies in the protection of users of exchanges with regulatory and administrative infrastructure.

Digital mining in Venezuela is regulated by the Intendence of Digital Mining, which is part of Sunacrip. “The Intendence of Digital Mining is in charge of planning, coordinating, promoting and executing all the digital mining and related activities in Venezuela,” Sunacrip’s website describes. “This includes issuing licenses [and] certifications for all mining activities.”

Disclaimer: Bitcoin.com does not endorse or support claims made by any parties in this article. None of the information in this article is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any products or companies. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

What do you think of the petro? Let us know in the comments section below.


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#Blockchain Infamous Hacker George Hotz Calls Bitcoin Cash the ‘Real Bitcoin’

Infamous Hacker George Hotz Calls Bitcoin Cash the "Real Bitcoin"

Well-known American hacker George Hotz, also known as Geohot, has been talking extensively about cryptocurrencies lately, and more specifically about bitcoin cash. On Wednesday, Oct. 17, Hotz published a cryptocurrency programming video using bitcoin cash and showed people how to send a BCH transaction from scratch using the Python programming language.

Also read: BCH Devcon Streamlines Bitcoin Innovation in San Francisco

Geohot Hacks With Bitcoin Cash

Infamous Hacker George Hotz Calls Bitcoin Cash the “Real Bitcoin”
George Hotz aka ‘Geohot.’

Popular entrepreneur and hacker George Hotz, aka Geohot, has a reputation for being the first person to unlock the Iphone and jailbreak the iOS software back in 2007. The programmer is also known for his relationship with Elon Musk, which he claims Musk offered him millions to create a better autonomous vehicle system than the current Tesla Mobileye solution. Recently, he attended the BCH Devcon in San Francisco and was interviewed by BCH Youtuber Hayden Otto. Following the event, on Wednesday, Hotz showed people how to generate a BCH private key from scratch using Python.

While most of the five-hour video shows Hotz coding and explaining what he was doing, the programmer emphasized how he would not be talking much about cryptocurrency politics.

“I know we’re doing crypto things today but we’re not going to talk about the politics of crypto — Because politics is for losers,” Hotz explained to the viewers. Before getting started, he also explained how he learned a few things at the BCH Devcon the prior week. “Transaction fees are super low on bitcoin cash,” the hacker detailed before starting the key generation process.

Hotz continued:

[I’m] Using bitcoin cash because it’s the real bitcoin.

Infamous Hacker George Hotz Calls Bitcoin Cash the “Real Bitcoin”

“Lightning Network Too Complicated in a ‘Won’t Work’ Kind of Way”

During his interview at the BCH Devcon, Hotz also talked about the Lightning Network and the Ethereum network’s dapp projects. The programmer said he likes cryptocurrency technology and reads Ethereum code for pleasure. However, Hotz detailed that the Ethereum network is a “bug bounty” because he believes smart contracts open the doors to malicious hackers getting paid without breaking laws.

Hotz further stated that he was irritated with paying high network fees on the BTC network last year. As far as the Lightning Network is concerned, he explained the system is too complicated in a fashion that probably “won’t work.” Bitcoin Cash proponents on forums and social media enjoyed learning Hotz’s opinion about the Bitcoin scaling debate and his informative Python lesson using the protocol’s code.

What do you think of George Hotz (Geohot) and his opinion about the Bitcoin Cash protocol and the Lightning Network? Let us know what you think about this subject in the comments section below.


Images via Pixabay and Youtube.


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#Blockchain Emma Integrates Crypto Exchanges into Money Management App

UK Money Management App Emma Adds Cryptocurrency Exchange Integration

Emma, a London-based startup firm specializing in money management services, has launched cryptocurrency exchange integration for its new app. The platform, which the company describes as a kind of “financial advocate” service, is designed to help millennials gain a better understanding of their finances.

Also Read: Security Giant G4S Offers Protected Offline Cryptocurrency Storage

New ‘Emerging Asset Class’

UK Money Management App Emma Adds Cryptocurrency Exchange Integration Emma has integrated several cryptocurrency exchanges into the app, including Coinbase, Bittrex, Binance, Bitstamp, Kraken and Bitfinex. With its latest development, users can view all of their cryptocurrency investments from multiple exchanges in real time using a single interface. The free app also allows U.K. consumers to look at aggregated information from their credit cards and bank statements, in addition to the cryptocurrencies and tokens they hold.

“Emma was built to empower millions of individuals to live a better and more fulfilling financial life. Cryptocurrency is the next emerging asset class and we are thrilled to welcome it as part of our family of integrations. Our users can now manage and track their crypto holdings alongside more traditional finances to make wiser and more transparent decisions,” said Emma CEO Edoardo Moreni. “For Emma, this is one of the first steps toward a world where account aggregation doesn’t just refer to banking products, but opens the doors to several financial services.”

Consumer-Focused Banking Experience

UK Money Management App Emma Adds Cryptocurrency Exchange IntegrationEmma launched in January of this year, backed by a team of finance and technology experts. In July, the company raised £500,000 in a seed round led by Kima Ventures, one of the first investors in Transferwise. Aglaé Ventures — the early stage program of French investment firm Groupe Arnault, which has previously invested in Netflix and Airbnb — also participated in the seed round.

Emma is registered with the Financial Conduct Authority in the U.K. under the Payment Services Regulations 2017. With its new app, the company aims to build a mobile-only banking solution (iOS and Android) to help young consumers avoid overdrafts, cancel subscriptions, track their debts and save money. It said it is trying to provide a more consumer-focused banking experience that will improve the financial lives of its users, by serving as a sort of one-stop shop for all of their financial information.

As a U.K. resident, do you look forward to managing your cryptocurrency portfolio with Emma’s new app? Share your thoughts in the comments section below.


Images courtesy of Shutterstock, Emma.


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

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