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Equity options for COIN stock are coming to Nasdaq today.
A U.S. district has rejected a lawsuit alleging that Bibox sold unregistered securities because the lead plaintiff last traded the tokens in question more than 12 months ago.
Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals.
Cryptocurrencies and CBDCs Can Coexist
Morgan Stanley’s analysts, including chief economist Chetan Ahya, discussed the impact of central bank digital currencies (CBDCs) on bitcoin and other cryptocurrencies in a report published last week. They wrote:
Cryptocurrencies will still exist, as they continue to serve other use cases … For instance, some cryptocurrencies can function as a store of value … as some segments of the public do not place their full faith in fiat currencies.
The analysts explained that the uses and appeals of central bank digital currencies and cryptocurrencies are different. They added that cryptocurrencies can be both a store of value, similar to gold, and a speculative asset.
Regarding why investors are increasingly interested in bitcoin and other cryptocurrencies, the Morgan Stanley analysts described:
Investors’ interest in cryptocurrencies has risen alongside the unprecedented monetary and fiscal policy response to the pandemic.
In contrast, Morgan Stanley said in the report that government-backed digital currencies probably pose the biggest risk to stablecoins.
A growing number of central banks are increasingly interested in issuing their own digital currencies. The Bank of International Settlements (BIS) says 86% of the world’s central banks are studying digital currencies in varying stages.
Morgan Stanley believes that CBDCs would be quite different from cryptocurrencies as they are unlikely to use blockchains. The European Central Bank (ECB) has similarly said that CBDCs have little to do with cryptocurrencies, which the bank sees as speculative assets and not actual currencies.
Do you think cryptocurrencies and central bank digital currencies can coexist? Let us know in the comments section below.
The Federal Reserve Bank of Dallas president says bitcoin is clearly “a store of value.” Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value.”
Fed Bank Chief Calls Bitcoin a Store of Value
The president of the Federal Reserve Bank of Dallas, Robert Kaplan, talked about bitcoin and central bank digital currencies (CBDCs) Friday at the Texas A&M Bitcoin Conference 2021 hosted by Mays Business School.
Firstly, Kaplan explained that he would distinguish between bitcoin and central bank digital currencies. “I would differentiate between a cryptocurrency, like bitcoin, and the discussions that are being had about digital currency,” such as the digital yuan experiment in China, he described.
He proceeded to explain that the challenge on bitcoin is “how widely it will be adopted.” The Federal Reserve Bank of Dallas chief elaborated:
Right now, it’s clear it’s a store of value.
“It obviously moves a lot in value,” he continued. “That may keep it from spreading too far as a medium of exchange and wide adoption but that can change and that will evolve.”
The Fed bank chief also confirmed that he and his team “have studied intensely and will keep studying bitcoin and other cryptocurrencies.”
He then talked about central bank digital currencies, emphasizing:
The discussions around the world on digital currency are slightly different in that a digital currency won’t necessarily be a store of value.
“If you’re worried about the value of underlying currency, digital currency is likely to be, for example in China, tied to the value of the underlying,” he detailed, adding that it’s also “a way of ease of payment, domestic payments first, getting money to where it’s needed.”
Kaplan further opined: “In some cases, you could argue in China it’s a way to monitor flows … and then ultimately how far will this go, and there’s been speculation about global payments and the implications.”
As for the digital dollar, Federal Reserve Chairman Jerome Powell said in February that the Fed is actively studying the possibility of issuing a digital dollar. He emphasized that it is a “very high priority project” for the Fed. Meanwhile, the Federal Reserve Bank of Boston and the Massachusetts Institute of Technology (MIT) plan to unveil at least two prototypes of a digital dollar in the third quarter of this year.
What do you think about what the Dallas Fed president said about bitcoin? Let us know in the comments section below.
Altcoins have been on a real tear for months, but Jarvis Labs analyst Ben Lilly says we’re not in an "alt season" just yet.
The fund's units began trading roughly three weeks after the investment manager filed a final prospectus with Canadian regulators.
Milky Way's Twitter account also joined in on promoting the meme-based cryptocurrency.
After the well-known crypto crackdown launched by the Chinese government four years ago, it seems there is now a change in the tone from the country’s central bank. At least that’s what has been suggested recently by the deputy governor of the People’s Bank of China (PBoC).
Central Bank Clarifies Its Regulatory Framework on Cryptos Will Remain Unchanged
During a panel hosted by CNBC at the Boao Forum for Asia, Li Bo is now naming bitcoin (BTC) with the “investment alternative” term for the first time since the crackdown. However, he made some clarifications on the meaning of his stance towards cryptocurrencies:
We regard Bitcoin and stablecoin as crypto-assets. These are investment alternatives. They are not a currency per se. And so, the main role we see for crypto assets going forward, the main role is investment alternative.
Such a statement implies an unprecedented change in Beijing’s tone on cryptos, even with experts quoted by CNBC considering these comments as “progressive,” as the country is also paving the way for the forthcoming digital yuan.
Li continued to elaborate on cryptocurrencies as investment alternatives:
Many countries, including China, are still looking into it and thinking about what kind of regulatory requirements. Maybe minimal, but we need to have some kind of regulatory requirement to prevent it. The speculation of such assets to create any serious financial stability risks.
Still, he clarified that the PBoC would keep its regulatory framework on cryptos unchanged.
PBoC Expects to Develop Cross-Border Solutions With Digital Yuan
During the panel, the newly-appointed central bank’s deputy governor commented on the digital yuan. He pointed out that “our goal is not to replace the U.S. dollar or any other international currency, as our goal is to allow the market to choose and to facilitate international trade and investment.”
That said, Li unveiled that the PBoC has some plans in regards to developing cross-border solutions with the “e-yuan”:
Our focus, again, is that we want to establish a very solid domestic e-yuan first and build up a healthy ecosystem, at the same time working with our international partners. Hopefully, in the long term, we’ll have a cross-border solution as well.
What are your thoughts on the PBoC deputy governor’s words on cryptos? Let us know in the comments section below.
The new marketplace is said to provide a more affordable option for artists launching digital artwork and other rare collectibles. It also lets them donate a portion of their proceeds to charities.
In April, Smartlands will launch an alternative investment platform for buying and selling tokenized shares of real-world assets. The platform, built on the Stellar open-source network, will first focus on issuing security tokens that represent a suite of high-yield real estate listings based in Ukraine.
Smartlands’ New Platform Is Revolutionizing the Real Economy in Eastern Europe
How could blockchain technology revolutionize the real economy?
One of the most exciting answers lies in unlocking liquidity. Consider this: The estimated value of tokenizable real estate worldwide is more than $270 trillion, while other real-world assets — like businesses, debt and agricultural holdings — put the total much higher.
But the legacy financial system poses problems.
Due to regulatory and technological barriers, it’s been difficult for owners of real assets to take advantage of their free equity for other opportunities. Meanwhile, the majority of investors have missed out on the benefits of investing in the real economy, such as protecting their capital from inflation.
Smartlands bridges this gap. By using blockchain technology to unlock liquidity in traditionally illiquid assets, Smartlands enables investors and asset owners to access the massive value that’s trapped in the real economy.
The team’s first major accomplishment came in 2019 with a pilot Security Token Offering (STO) for a student accommodation block in Nottingham, U.K. Smartlands raised enough capital from private investors to buy 30% of Winrise One Limited, the company that owns the property, while the remaining 70% was held by the original developer.
The pilot project was a success — it not only served as a proof of concept for the Smartlands Platform, but also made history by becoming the first tokenized property in the U.K.
Now, Smartlands is taking its next major step toward tokenizing the real economy.
Smartlands Platform Launch
In April, Smartlands will launch an alternative investment platform for buying and selling tokenized shares of real-world assets. The platform, built on the Stellar open-source network, will first focus on issuing security tokens that represent a suite of high-yield real estate listings based in Ukraine.
Using the platform, owners of high-quality real estate will be able to issue Security Token Offerings (STO) to investors. Investors from around the world can then buy those asset-backed tokens and trade them on a secondary market, providing a secure way for investors to benefit from fractionalized ownership of real estate.
A First-Mover Advantage in Ukraine
Smartlands is uniquely positioned to launch such a platform. While other projects in the cryptocurrency space are aiming to tokenize real-world assets, few have overcome the regulatory roadblocks standing in the way.
In contrast, Smartlands has already finalized the necessary legal framework to launch its platform in Ukraine. To accomplish this, Smartlands partnered with Quantum Attorneys, a law firm that provides best-in-class legal advice on all matters related to blockchain technology.
Why is Smartlands launching its platform in Ukraine?
European countries like Ukraine and Lichtenchtein have recently become some of the world’s most forward-thinking nations in regards to cryptocurrency. Ukraine’s Ministry of Digital Transformation is currently working on creating a progressive legal environment for the development and regulation of cryptocurrencies, while Ukraine’s finance minister recently described virtual assets as “promising.”
Ukraine has also partnered with the Stellar Development Foundation to create a central bank digital currency, and the government plans to build cryptocurrency mining projects next to its nuclear power plants.
This crypto-friendly landscape gives Smartlands a first-mover advantage in Eastern Europe and beyond.
“The legal side is a stumbling block for many crypto projects,” said Ilia Obraztcov, CEO of Smartlands Platform Ltd. “We passed this test previously in the UK, and now our Ukrainian office with Quantum Attorneys has developed a stable structure for a successful launch in Ukraine that also allows a smooth expansion of the project.”
As far as expanding the project, it’s worth emphasizing that real estate is just the first asset class that Smartlands will list on its platform. Soon, Smartlands plans to offer Initial Coin Offerings in small and medium-sized enterprises (SMEs) across Ukraine.
Toward that goal, Smartlands recently partnered with Business Incubator Group Ukraine, which helps SMEs in the early stages of their development.
“This collaboration will unlock a new business direction for us, and tokenizing the SMEs company shares will certainly help small businesses to receive well-needed financial investment,” said Obraztcov.
Smartlands has also partnered with Agroxy, a blockchain ecosystem that provides a regional trading platform for farmers and purchasers of agricultural products. Agroxy plans to incorporate Smartlands’ infracture into its trading system.
Beyond these promising partnerships, Smartlands aims to enable the tokenization of a wide range of real assets, from tech platforms to debt trading platforms, in many nations across the globe.
But no matter the asset or location, it’s worth highlighting what fuels transactions on the Smartlands Platform: the SLT token.
The SLT Token
On the Smartlands Platform, STO issuers will pay fees for listing assets. Issuers can pay fees in fiat currency, but all fees will be processed in SLT, which is native utility token of the Smartlands ecosystem.
SLT is a unique token in the cryptocurrency space. That’s primarily because, after the platform launches, qualifying SLT holders will receive one-third of the total fee revenue generated by the Smartlands Platform.
Smartlands’ near-term goal is to tokenize $1 billion in real assets. When this goal is reached, qualified SLT holders will have received a total of roughly $16.5 million, considering Smartlands applies a 5% commission to the total portfolio of assets on its platform, and qualified SLT holders receive 33% of this fee pool.
Smartlands expects that this unique revenue-sharing model, combined with rising platform activity and future tier-1 exchange listings, will result in increasing demand for SLT over the long term.
“At Smartlands, we believe the world is on the cusp of a quantum shift in how value is stored, transferred, and accounted for using blockchain and crypto-currencies,” said Martin Birch, Non-Executive Chairman of the Smartlands Group and Managing Partner of Ukrainian investment bank Empire State Capital Partners.
“This financial landscape of Dollars, Euros, and other fiat currencies supporting stock markets and the foreign exchange markets will change beyond all recognition in the coming years as the key advantages of blockchain and the crypto world become accepted by users worldwide.”
- Unique staking structure: Unlike other cryptocurrency projects, the amount of passive income distributed to stakers is based on the amount of activity on the Smartlands Platform, making SLT an ideal token during bear markets.
- First-mover advantage: Smartlands has finalized the legal framework to launch its alternative investment platform in Ukraine. This will help pave the way for expanding into other nations.
- Flexibility: The Smartlands Platform is capable of tokenizing not only real estate, but also any real-world asset, such as small and medium-sized enterprises, agricultural assets and debt.
- Fast, cheap and secure transactions: SLT is built on the Stellar network, one of the most trusted and environmentally friendly blockchains on the planet. What’s more, the Stellar Development Foundation is helping to create a central bank digital currency for Ukraine, where Smartlands is launching its platform.
- Low token supply: There are a total of 7.2 million SLT in existence, with about 5.1 million in circulation. Smartlands expects this to increase buying demand for the token.
- Upcoming exchange listings: Smartlands is pursuing negotiations with some of the best exchanges in the cryptocurrency space, while it’s currently available on StellarTerm, LOBSTR, WhiteBit and Atomars.
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As the launch date for parachains nears, a new initiative is constructing a decentralized finance (defi) index token that tracks Polkadot projects aimed at helping investors diversify their holdings through a single instrument.
Six Projects Provide Soft Commitments to Join Polkadot Index Network Token
The growing interest in Polkadot and its novel parachains has seen the blockchain’s native token become the source of frenzied speculation over the last few months, joining the list of the top ten cryptocurrencies by market capitalization.
Now, with approaching parachain launches for several projects, two organizations are taking steps to help improve access to the ecosystem’s opportunities through the Polkadot Index Network Token (PINT).
The PINT token will be governed by a seven-member expert group called the PINT Council and a Constituent Committee formed of members of each project featured within the index. These two groups will oversee the index and take on specific roles like determining the index composition.
Already, projects are lining up to join this new initiative, both as index components and part of the Constituent Committee. So far, PINT has received soft commitments from major ecosystem projects, including Acala, Equilibrium, Hydradx, Litentry, Moonbeam, and Plasm, helping further the index token’s appeal.
A New Standard in Defi
From inception to the present, this new index has represented a very unique undertaking in the blockchain ecosystem. Staker DAO, an on-chain governance protocol, brought its Polkadot Index Network Token proposal to its community for a vote. Despite being for the Polkadot ecosystem, voting occurred on both the Ethereum and Tezos blockchains, which operate competing ecosystems.
In the time since Staker DAO first requested an index token feasibility study in late 2020 from Chainsafe and Stateless Money, a Staker DAO governance proposal was submitted in March and approved by the community in early April.
This approval established that Chainsafe would be the party responsible for developing the token’s Substrate pallets over the next three months. In the meantime, Stateless Money will take the lead in coordinating the project.
For Polkadot ecosystem participants and external investors, this new initiative promises substantial benefits. In terms of investor advantages, the idea of gaining broad, diversified exposure to high-profile Polkadot projects without the need to allocate individually to each project is enticing.
On the other side, Polkadot projects can leverage PINT by allocating a certain portion of their respective parachain’s tokens. This entitles parachains to help from the PINT Treasury, which can help finance expensive Parachain Lease Offerings. This service can also help parachains manage native token volatility.
Do you see yourself using PINT as an investment instrument? Let us know in the comments section below.
After the initial oversold bounce, traders are struggling to sustain the momentum of the relief rally in Bitcoin and most altcoins, a signal that selling could intensify at higher levels.
Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC.
UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency
Central bank digital currencies (CBDCs) have been popping up throughout a number of countries and most are still in the exploration phase. A few countries like Venezuela, Sweden, and China are ahead of the game by a longshot in comparison to countries like the U.S., Canada, and the United Kingdom. On Monday, the HM Treasury and the Bank of England (BoE) published an announcement indicating that it plans to join the CBDC race.
The two UK entities have established a CBDC taskforce as the Exchequer says the group will be dedicated to “the exploration of a potential UK CBDC.” The press release wants the public to know that bureaucrats and the BoE have “not yet made a decision on whether to introduce a CBDC in the UK.” However, the taskforce is meant to strategically approach the idea and “promote close coordination” between officials exploring a UK-based CBDC.
The CBDC taskforce will be co-chaired by Jon Cunliffe the Deputy Governor of the Bank of England and Katharine Braddick the HM Treasury’s Director General of Financial Services. “Full membership of the taskforce will be limited to relevant individuals from the Bank of England and HM Treasury,” the announcement details. “Other UK authorities will be involved in the taskforce’s work on CBDC as appropriate, and will be invited to meetings when relevant. The Bank of England and HM Treasury will jointly provide secretariat duties,” the Exchequer’s announcement notes.
A CBDC Will ‘Secure the UK’s Title as a World Leader for Fintech Innovation’
In a note to Bitcoin.com News, Jorge Lesmes, Global Head of Blockchain Banking Practice at Everis believes the HM Treasury’s and BoE’s recent announcement is positive. “The UK is a world leader for fintech, and the implementation of a Central Bank Digital Currency (CBDC) would help secure this title,” Lesmes explained. “With the Covid-19 pandemic accelerating our transition away from physical fiat and enhancing the customer appetite for convenient, tech-driven access to financial services and digital payments, the introduction of a CBDC would be key in meeting these shifting consumer demands,” he added.
The Everis executive continued:
However, the first stage of implementation is likely to arrive with commercial banking, for interbank settlements, before retail banks benefit from the uses of a digital currency. Of course, the introduction of a CBDC will not come without its risks. For this partnership to succeed, the newly established taskforce must examine how the UK government will work alongside the Bank of England, to ensure that all potential risks have been considered and that the correct regulation is in place to eliminate threats and maintain value.
Members of the HM Treasury and BoE effort plan to evaluate design features to achieve specific goals. The CBDC will need “rigorous, coherent and comprehensive assessment,” the Treasury insists. Both entities will also participate in engaging with CBDC stakeholders. Furthermore, the organizations will monitor the CBDC developments in order to make sure the UK “remains at the forefront of global innovation.”
What do you think about the HM Treasury and BoE effort introducing a CBDC taskforce for the UK? Let us know what you think about this subject in the comments section below.
The platform can reportedly execute trades automatically based on up to four risk-reward profiles that crypto users choose themselves.
Dogecoin's price has rallied more than 500% in the last 10 days, resulting in a $50 billion market cap that eclipses ING, Barclays and Credit Agricole.
Countries like the Bahamas and Thailand are on the leading edge of CBDC development, according to a new research report.
After bitcoin and a myriad of other crypto-assets tumbled in value on Sunday a number of significant whale movements took place. During the morning trading sessions on Sunday (EST), an old school miner transferred three decade-old coinbase rewards with 150 bitcoin worth more than $8.5 million. Later on in the evening, just before the transition into Sunday, two major whale transactions stemming from Binance resulted in three new massive wallets. One wallet contains 58k in bitcoin worth more than $3.3 billion using today’s exchange rates.
Over $4 Billion in Bitcoin Moved Yesterday
Yesterday on April 18, 2021, Bitcoin.com News alongside the help of Btcparser.com and team members from the Telegram channel Goldfoundinsh*t caught a number of interesting onchain transactions pop up on our radar. This was five days after Goldfoundinsh*t and Bitcoin.com News researchers discovered more than 12k in BTC from the 2016 Bitfinex hack that got transferred to a number of unknown wallets. That day, bitcoin (BTC) touched an all-time high on three occasions, and touched a final ATH at $64,895 per unit on April 14, 2021.
On Sunday, April 18, BTC prices slid to a low of $51,541 per unit following the massive decline in SHA256 hashrate and rumors of the U.S. Treasury allegedly cracking down on the crypto industry. During the course of Sunday’s trading sessions, a number of whale movements and even sleeping bitcoin transfers took place.
A touch after 11:00 p.m. (EST), two transactions processed at block height 679,739 and 679,743 transformed into three new whale addresses. Bitcoin address tagging shows that the funds stemmed from the popular crypto exchange Binance, and it is assumed that the newly created addresses are new cold wallets.
A member of the Goldfoundinsh*t team discussed the situation with Bitcoin.com News. “These are the first and second whale movements that hit the radars of our Btcparser2 last night. The result of two transactions was three new wallets:
- 3LQeSjqS5aXJVCDGSHPR88QvjheTwrhP8N +58,814 BTC – Most likely this is a new cold Binance wallet
- 3ByyPAZmzANfV1sMALVU8zdorPUHEbkZZi +20,498 BTC
- 3LYJfcfHPXYJreMsASk2jkn69LWEYKzexb +11,000 BTC
It is unknown whether this transfer was a reorganization of Binance wallets or an over-the-counter deal in the making. “After all, we do not know who the final owners of the new wallets with thousands of bitcoins are,” a Goldfoundinsh*t team member noted. “Surprisingly, the date of such a major reorganization (after all, 68k of that BTC has not been touched since August last year) and yesterday’s significant rout of the bitcoin price coincides,” the researcher added.
$8.5 million in Bitcoin from 2010 Spent After Sitting Idle for Over Ten Years
Furthermore, 150 bitcoin from 2010 was transferred after the price of BTC slid a few hours prior. All 150 BTC worth $8.5 million today, was mined on July 13, 2010, and it was likely mined by the same entity. The first coinbase reward was spent at block height 679,688 and then two more coinbase rewards from 2010 were spent at block height 679,692 all stemming from the same day. April has not seen many 2010 coinbase reward transfers unlike the recent string spends of 20 block rewards on various occasions.
The last decade-old coinbase reward from that year was transferred on April 10, 2021, just before BTC’s ATH four days later. There was also a spend of the same caliber from 2010 spent the day before on April 9. The last time the mega-whale, which spends 20 block rewards at a time, transferred coins was on March 23, 2021. The whale seems to be skipping out on April or it’s possible it has ended the run of transferring more than 10,000 BTC from 2010. Whatever the case may be, bitcoin whales and large crypto fish are moving massive amounts of BTC since prices have been higher than ever before.
What do you think about the massive whale movement yesterday from Binance and the 2010 coinbase rewards spent? Let us know what you think about this subject in the comments section below.
"Dogecoin Day 4/20" and a SpaceX rocket launch are two events fuelling DOGE/USD as year-to-date gains pass 7,500%.
Luno, one of Africa’s pioneering crypto exchanges, has revealed that South Africa’s cryptocurrency trading is largely dominated by young people with those under the age of 29 accounting for 40% of transactions. The exchange, which claims to have added nearly a million new South African customers in 2020, also reveals that “around 65% of Luno’s users are male and about 35% female.” These figures compare favourably with the industry average of 70% male to 30% female.
Rising Retail Demand
In addition to achieving a 300% year-on-year growth, Luno reports seeing the number of active users surging by 167% during the same period while “the number of app installs increased 119%.” Meanwhile, a report quotes Marcus Swanepoel, CEO and cofounder of Luno attributing the increase in transactions volumes to rising retail demand for cryptos. Swanepoel explained:
While a lot of the attention has been around institutional adoption, retail adoption has been growing at an arguably even more frantic pace. In 2021, we expect to continue this exponential growth, on track to reaching our goal of one billion customers by 2030.
Between January 2019 and 2020, Luno, which was acquired in September 2020 by Digital Currency Group, says it “recorded $8.3 billion (R121 billion) in transactions worldwide.” Further, Luno says it “processed nearly $3 billion in volumes in South Africa last year, and was already above this number at the end of March.”
South Africans Curious About Cryptos
Meanwhile, the same report also quotes the exchange’s general manager, Marius Reitz, stating that “South Africans are definitely curious about crypto.” To support this assessment, Reitz points to Google bitcoin search trends data. According to this data, South Africa is ranked fourth globally and on the African continent, the country is placed second behind Nigeria.
In addition, to the Google Trends data, Luno also makes reference to the Global Web Index data which shows that “an estimated 15% of South Africans have invested in bitcoin.” With this figure, which is the second-highest in the world, South Africa ranks ahead of countries like the U.S. and Japan.
Do you think South African crypto transactions volumes will surge again in 2021? You can share your views in the comments section below.
Cardano will strive to become an Ethereum contender if the upcoming Alonzo update lives up to the expectations of being a game-changer.
A United States blockchain lobbying group executive says there is no danger of a crypto crackdown in the country.
Over the past 13 years, the world has seen innovation at its finest. The creation of Bitcoin, the development of cryptocurrencies, the launch of blockchain projects, Decentralized Applications (Dapps), and far more. To gauge the financial evolution of blockchain one need only consider the price of Bitcoin in 2013 and compare it to today. In 2013, a single Bitcoin was worth $22. Today, Bitcoin is comfortably over $60,000, with analysts suggesting $100,000 is in sight. With the steady expansion of blockchain technology, the Blockchain as a Service (BaaS) revolution has begun. PARSIQ strives to pioneer the use cases of this BaaS revolution.
PARSIQ: An Overview
PARSIQ promotes BaaS through its next-gen monitoring and intelligence platform. Users can observe and utilize blockchain data for a number of use cases. These include:
- Tracking digital assets in real-time
- Notifications of Blockchain network activity
- Gathering and processing on-chain data
- Combining on-chain with off-chain data such as Risk Data/Market Data etc.
PARSIQ also enables multi-blockchain interoperability and the ability to create complex workflows between them. Easy-to-use, flexible, and scalable; PARSIQ removes the complexity from blockchain-specific workflows so that users can efficiently and comfortably transform blockchain data.
Moreover, PARSIQ provides integration with many high-profile blockchains such as Ethereum, Binance Smart Chain, and Solana. With this wide range of blockchain platforms steadily increasing, the potential use cases for users only continues to increase.
The main business objective and vision of PARSIQ is to monitor and protect blockchain data. PARSIQ enables the creation of fully customizable complex monitoring solutions with the ability to integrate on-chain data with notification systems, effectively creating alerts for blockchain-based data events.
At the core of PARSIQ’s first day of formation, these two groupings pioneer the PARSIQ platform’s vision. These encompass the utilization of on-chain/off-chain data and workflow optimization as we will explore further below.
Keeping Up-to-Date Block by Block
One of the main use cases of PARSIQ is its ability to facilitate flexible and easy-to-use on-chain analysis. On-chain analysis provides a fundamental approach as opposed to a sentimental approach and can be used to identify historical trends. PARSIQ enables effective on-chain analysis via the use of its platform and many analysis tools.
Both small businesses and large enterprises can implement on-chain analysis using PARSIQ’s blockchain connection automation, fully customizable workflows, and versatile integration selection. Spanning on-chain data and off-chain apps, workflows can be augmented with conditional logic, aggregate, formatting of data, and far more to effectuate all analysis targets.
Taking PARSIQ’s Smart-Trigger automation into consideration, this process further develops next-gen on-chain analysis. Smart-Trigger receiving input events, processes each according to the user-specified logic, and produces intermediate/output events in correlation with User Data specifications.
When a user defines their monitoring targets in User Data, the Smart-Trigger can be programmed using ParsiQL language to process and consider all monitored information. In layman’s terms, using the Smart-Trigger process, users are able to amalgamate mass information quickly and effectively to conclude their on-chain analysis.
Smart-Trigger: Developing Upon Blockchain Oracle Interoperability
Blockchain oracles enable blockchain or smart contracts to interact with external data. This facilitates the on and off-chain pathway and lays the foundation for interoperability between blockchains.
Smart-Trigger contributes to the Blockchain technology space by directly improving upon this interoperability via its monitoring and data-gathering utilities. As with any smart contract or blockchain, an oracle is required to facilitate the transferral of information between it and the real world. How Smart-Trigger builds upon this process is by automating the movement of data across multiple blockchain integrations, all based upon user-specified requirements.
Unlike oracles, Smart-Triggers are flexible, easy-to-use, fully customizable, and can be tailored for any user’s needs. Using the logic chosen, the mass information gathered can be filtered, aggregated, and specified down to the minutest criteria. This process cuts time requirements, eliminates unnecessary information transferral, and develops upon the core of oracle interoperability.
An on-chain analysis tool of this caliber fits comfortably into the same league of analysis tools employed by businesses such as Chainalysis. Similarly, PARSIQ’s Smart-Trigger enables the same efficiency of risk management, blockchain data monitoring, and data-gathering.
Indeed, PARSIQ Smart-Triggers have the potential to bridge the gap between consumer apps and on/off-chain analysis using an approach that has never been trialed before.
Optimizing the Workspace Using PARSIQ
Another strong use case of PARSIQ is the efficient optimization of workflow applications. Used in conjunction with Smart Triggers, PARSIQ workflows can be fully customized, organized, and utilized to establish a solution that grows with the user.
A workflow facilitates a multi-action data transaction and automates responses to specified events using Smart-Triggers. An example could be as follows:
- Smart-Trigger: A Bitcoin transaction – an address has received a new transaction.
- Telegram Bot: user alerted via Telegram integration about the new transaction.
- Data Risk Score: adds a risk score utilizing off-chain data.
- Slack Alert: notification of the risk score is provided to the user compliance team on Slack.
This multi-step process of action and response is referred to as a workflow and can be completely customized to automate a chain of reactions based upon a Smart-Trigger event. Using the array of tools provided, users can customize their workflow to develop real value for their business.
With an easy drag & drop visual editor, The PARSIQ platform will allow users to easily structure their own business logic and input conditions with an easy-to-use user interface currently under construction. Deploying Smart-Triggers to achieve automation goals, users can specialize workflows tailored to their own business. This cuts time requirements, response times and allows more time for the development of more important business aspects.
When PARSIQ secures integration with Slack and Trello, both communication and task management could then be managed simultaneously via PARSIQ workflow optimization. This potential process would begin with a Smart-Trigger, which then automates the communication responses. Following this theoretical chain of automation, the automated Slack response to the Smart-Trigger would instigate a Trello response which would organize and update task management layouts.
The Subscription Model Re-evaluated
The PARSIQ subscription model, IQ Protocol, aims to provide a cheap and flexible method for on-chain subscription implementation – without sacrificing workflow quality/utility. Rather than staking to access PARSIQ’s IQ services, this new Decentralized Finance (DeFi) framework enables businesses to subscribe. This framework works to avoid token issuance pitfalls often encountered by other BaaS’s. To deliver this subscription model service, PARSIQ has introduced the notion of ‘Power Tokens’.
Power Tokens are not considered a form of payment, but instead, a measure of energy generation. The energy accumulated takes the role of being an accountable unit spent for service consumption (much like gas fees for Ethereum transactions). This token model proposed by PARSIQ sets the stage for collateral-less borrowing of Power Tokens which in turn ensures the loan side of the IQ Protocol is risk-free. PARSIQ’s innovation via the IQ Protocol opens up mainstream adoption of DeFi participation while nullifying the associated risks. Establishing tokenomics that are both sustainable and measurable over time, the IQ Protocol aims to utilize Power Tokens to revolutionize the future of BaaS.
PARSIQ Is the Future
Indeed, PARSIQ’s IQ Protocol is a determined attempt to bridge the worlds of DeFi and mainstream, one of the first such attempts seen in the space since its rise to popularity last summer. The proposition of an entirely new approach to obtaining utility from DeFi platforms in a subscription-like manner puts IQ in step with the traditional subscription model used in mainstream application development.
This results in a shallower learning curve for mainstream organizations looking to develop in the DeFi space, whilst also alleviating some of the concerns associated with holding often volatile tokens to gain access to DeFi platforms. In addition, PARSIQ’s integrations are a clear effort to lower the cost of development, as well as encourage an open and multi-platform approach to development. This gives potential developers more flexibility when it comes to choosing where to base in the DeFi space, as well as opening up the mainstream world to several DeFi-focussed platforms at the same time.
The future of DeFi depends on its integration with the mainstream world. PARSIQ embodies the move in that direction, with IQ being its defining step.
To learn more about PARSIQ and its vision for the future of DeFi today, visit their main page here. To learn more about IQ Protocol and how PARSIQ uses it to re-imagine DeFi, read the IQ blog post here.
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French financial services giant Société Générale has issued security tokens on Tezos’ public blockchain as part of its ongoing experimentation with cutting-edge fintech applications.
Latest Move Reflects Bank’s Efforts to Fold Cryptocurrency Operations Into Its Ecosystem
In its latest milestone in the blockchain arena, French multinational bank Société Générale has issued its very first structured product security token. The token, which represents €5 million of Euro Medium Term Notes (EMTN), represents the first move by the bank to tokenize assets. The insurance arm of the bank, Société Générale Assurances, fully subscribed to the security token offerings.
This latest development follows other work the bank has already undertaken through its regulated subsidiary Société Générale – Forge. Since it first tokenized a €100 million covered bond settled in Euros in 2019 on the Ethereum blockchain, the bank has also handled another covered bond worth €40 million for settlement in the Banque de France’s Central Bank Digital Currency (CBDC) in 2020.
The security token, issued on Tezos’ open-source public blockchain, reflects the growing role of this disruptive technology framework, given its ability to make transactions more efficient and cost-effective. From the bank’s perspective, blockchain adds significant capacity for structuring assets with fewer intermediaries in addition to better speed and greater transparency.
Although blockchain technology still presents a challenging regulatory issue in the region given the absence of clear guidelines, the Société Générale has already been tapped by the European Central Bank to assist with digital bond issuance.
As part of its foray into the crypto ecosystem, the bank intends to leverage its experience in blockchain to effectively bridge the technology with legacy financial systems integrated with the SWIFT system. This initiative will also eventually grow to include crypto-asset structuring, issuance, exchange, and custody services for the bank’s institutional clients planned for launch in 2022.
Do you see advantages in having complex financial instruments on a public blockchain? Let us know in the comments section below.
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