#Nvestweekly

[nvestweekly-blog]

United Kingdom’s Energy Company Acquires Stake In Blockchain-based Firm Electron

Through its newly launched technology arm, Kaluza, one of the United Kingdom’s largest energy firms, OVO, has invested in the company, Electron, which is blockchain-based. This investment, in turn, accelerates the development of the smart electricity grid to provide a distributed flexibility marketplace, which was reported in an OVO blog post published on March 12. United Kingdom’s Energy Company Acquires Stake In Blockchain-based Firm Electron.

Kaluza is an intelligent grid technology company and new division within the OVO that provides software and hardware products (such as electric vehicles, electric heating and battery storage onto the grid) to the energy sector. This development is to support the Electron’s deployment of distributed energy trading platforms.

“The development of Electron’s shared asset register will be crucial to supporting the growth of Kaluza. Also, deliver on its mission to securely connect all devices to an intelligent zero-carbon grid,”

-The post explains.

This is the first investment from OVO since Mitsubishi acquired a 20 percent stake in the company. Presently, OVO is the seventh largest energy suppliers in the U.K.

“OVO will support the development of our asset identity and trading platforms. We are happy to work with an exceptional international partner to deliver on our vision of efficient, inclusive and coordinated energy markets.”

-Electron co-founder Jo-Jo Hubbard said.

Further, the firm believes that the deployment of advanced technologies, such as blockchain and IoT, will greatly support and boost its distributed energy system that includes multi-agents and millions of connected devices.

Also, the ledger encrypted technology will allow the services and goods to trade peer-to-peer. Later, the blockchain firm will use this technology to run a pilot test. This is by allowing the neighboring countries to purchase and sell solar power, electric vehicle chargers.

As indicated by recent research from Infoholic Research LLP, it provides insights in 4 major outcomes which are:

The worldwide blockchain in energy utility market will develop by 60 percent by 2024.

In 2018, the market survey was $210.4 million.

However, this market can reach up to $3.4 billion by 2024.

Infoholic Research predicts the development at a compound yearly growth rate of 59.4 percent from 2018 to 2024.

[nvestweeklynews-blog]

Once you have decided to invest in, or trade with cryptocurrency, you must then decide how to store it. If you are not aware of the different types of crypto wallets, along with their advantages and disadvantages, there is a high chance that you may fail to choose the correct one for you.

Cryptocurrency being stolen through computer hacks is often heard of happening in the crypto field. One of the main goals of traders and investors should be to hold their crypto safely and securely.

[nvestweekly-blog]

Finturi Secured $2.2 million For New Blockchain-based Invoice Finance Platform

Finturi, which is a Dutch fintech, blockchain startup, announced that it secures $2.2 million (€2 million). It aims to provide loans to all financial businesses against invoices through blockchain tech and accelerate product development. Finturi Secured $2.2 million for new Blockchain-based Invoice Finance Platform.

It was established in September 2018, is a fintech startup based out of The Hague in The Netherlands. The company is led by CEO, Johannes Brouwer, who plans to enable and help businesses finance invoices by linking them with financiers to borrow money against invoices, using artificial intelligence (AI) and blockchain technology. It provides easy invoice financing that is low cost, quick and secure.

With all these developments and the challenges faced by financial businesses for raising capital, Finturi CEO, Johannes Brouwer, says the firm expects to facilitate the securing of loans against invoices for organizations within a span of 24 hours.

“Even though small and medium enterprises contribute significantly to the economy, it is often challenging for them to raise working capital. The newer the business, the higher the difficulty it faces to raise working capital. We want to solve this problem. We want to build a robust product that enables businesses to get a loan against invoices within 24 hours. Also, we want to provide financiers with a platform for investing in invoices with minimum hassle”.

-Johannes Brouwer, CEO Finturi said

Five Japanese banks have recently entered into the partnership in order to launch blockchain-based financial services infrastructure. Also, focusing on the scope of financial activities for effectiveness enhancements, the banks will use IBM’s ability amid the improvement stage.

“Blockchain technology combined with Artificial Intelligence has massive potential of eliminating inefficiencies in the current financial processes. It can save costs as well as make processes faster and secure. I am extremely happy to see that one of our portfolio companies is leading the blockchain revolution. We are confident in Finturi’s team and are sure that this investment will drive Finturi to innovate further and be the world’s leading invoice finance platform”.

-The lead investor from NetSam Participaties BV who recently exited a SaaS company said.

[nvestweekly-blog]

Crypto Platform DX.Exchange Releases New Secondary Trading of Security Tokens Feature.

The Estonia-based service, DX.Exchange has opened its market to secondary trading of security tokens. The company soft-launched in January. Crypto Platform DX.Exchange releases a new Secondary Trading of Security Tokens feature.

The trade exchange company now accepts the listing of security tokens by organizations that they issued previously on alternate exchanges. In Europe, institutional investors can buy the tokens for fiat, bitcoin, ether, tether, and XRP.

To begin with, DX.Exchange’s native IGWT token will be listed.

In the long run, however, the co-founder Daniel Skowronski said the organization will develop its very own system for asset tokenization.

DX.Exchange promise for its own token is as follows:

18 million IGWT will offer for a limited time in an exclusive security token offering (STO)

10 percent of the organization’s profits will consistently share with token holders

Currently, clients can exchange 10 digital forms of money including bitcoin, ether, litecoin, bitcoin cash, OmiseGo, XRP, and others. Skowronski said that the exchange is as of now, working in a closed environment for somewhere in the range of 8,000 pre-enlisted clients. The main launch will be in April.

ERC-20 tokens backed by real-world securities, for example, stocks of Tesla, Google, Facebook, Amazon and 30 more, can also be bought and exchanged. The stocks are bought and held by the business MPS Marketplace Securities Ltd. enlisted in Cyprus- Nvestweekly.

Skowronski said in a public statement that their vision is to cross over any barrier between the old world and the new computerized world. They trust that all assets, whether securities, art or real estate will be tokenized; and that tokenization has numerous advantages. The most noteworthy in his opinion is the capacity to help create riches for individuals everywhere throughout the world regardless of their social and financial circumstances.

As per, Skowronski, the organization doesn’t offer its services to U.S. clients. This is due to regulatory obstacles and isn’t intending to do so in the coming months either.

[nvestweekly-blog]

USDT Stablecoin May Not Be fully Backed By Fiat Reveals Tether

Tether has disclosed some interesting information on the recently updated terms section of its site. The wording has been altered to state that its USDT Stablecoin May Not Be fully Backed By Fiat, reveals Tether

As observed on the Internet Archive in mid-February Full fiat backing clearly stated on Tether’s previous terms:

It now reads on the site:

“From time to time may include other assets and receivables from loans by Tether to third parties, which may include affiliated entities (collectively, “reserves”).”

Tether has been at the focal point of inquiries about whether it has adequate stores to back the 1.9 billion USDT it put in the market. The company does, albeit amid particular time windows, as per reports.

Bloomberg News reported last December, that it has seen the bank statements of Tether. They indicated at least over four separate months that the organization had enough dollars to back the USDT tokens in circulation.

A significant part of the suspicion around the firm emerges from the way that Tether has never given a full free preview of its dollar collateral through an independent audit. The company did, however, share a letter from Bahamas-based Deltec Bank as evidence of reserves for backing in November.

U.S. Commodity Futures Trading Commission allegedly subpoenaed Tether and its sister company crypto trade Bitfinex. Researchers have also blamed the two organizations for using USDT to manipulate the price of bitcoin.

[nvestweekly-blog]

Coinbase Fires Hacking Team Employees Following Widespread Criticism

After an uproar due to Coinbase’s purchase of the blockchain analytics firm, Neutrino, many employees have been let go. Coinbase Fires Hacking Team Employees Following Widespread Criticism.

On Monday, CEO Brian Armstrong revealed in a blog entry that Coinbase and Neutrino have chosen to part ways with Neutrino workers previously employed by Hacking Team, regardless of if they have any present association with that organization or not.

The number of employees who were employed by Hacking Team remains unclear. The only known employees are the three senior executives recorded on the blockchain-sleuthing startup’s site include CEO Giancarlo Russo, CTO Alberto Ornaghi, and CRO Marco Valleri.

Coinbase’s decision to purchase Neutrino was announced on Feb. 19., after which there was much criticism leading to the dismissals.

A crusade urging Coinbase clients to delete their accounts has been prevalent on Twitter because Neutrino’s upper management has led projects for Hacking Team, which was a startup that helped governments conduct human rights abuses.

In the post on Monday, Armstrong said:

“We had a gap in our diligence process. While we looked hard at the technology and security of the Neutrino product, we did not properly evaluate everything from the perspective of our mission and values as a crypto company.”

He finished up by saying:

“Those who previously worked at Hacking Team (despite the fact that they have no current affiliation with Hacking Team), will transition out of Coinbase. This was not an easy decision, but their prior work does present a conflict with our mission.”

[nvestweekly-blog]

What do you think about CryptoCurrency and the future of it?