Author: TheBlockchainExaminer.com

currency-agnostic-blockchain-debuts-for-global-trade

Currency Agnostic Blockchain Debuts For Global Trade

August 24, 2021 Published by

 

Metal commodities worth around $43 million were purchased from one of the largest mines in Peru under the initiative of Mitsubishi Corporation (Americas). The purchases were made over multiple transactions using Skuchain’s currency agnostic blockchain for digital trade assets that were used for payment through Mizuho Bank.

The digital asset issued by the buyer was a Distributed Ledger Payment Commitment (DLPC), a digital negotiable instrument with a full-fledged legal framework published by BAFT (The Bankers Association for Finance and Trade), the largest trade association for transaction banking.

Skuchain’s blockchain managed the lifecycle of the digital asset from issuance to discharge and triggered secure payment instructions to Mizuho. This makes open account trade transactions frictionless and with a similar level of security as Letters of Credit, Guarantees and other traditional trade instruments, at a reduced cost.

Mitsubishi Corporation (Americas) appreciated the precise control this provides the company over its counterparty payments and seeks to expand the usage of blockchain managed DLPCs to underwrite its own transactions as well as encourage its customers to replace current trade finance instruments with the DLPC. By placing control over trade finance arrangements squarely in the hands of the enterprises that need it while tapping into vast pools of capital at banks and other financial institutions gives the company more liquidity and trading capacity.

“People have talked about Blockchain and supply chain for at least 5 years. We just moved past the talk stage to actually move thousands of tons of a physical commodity across 10,000 miles backed by bank-acceptable digital assets worth $43m on our blockchain and we did it faster, cheaper, and more secure than what came before,” said Srinivasan Sriram, Founder and CEO at Skuchain.

“We are very honored to collaborate with Skuchain and Mizuho Bank to conduct the first DLPC transactions in real trading. We would like to continuously pursue further opportunities to apply DLPC to provide better services to our customers and partners,” said Yuichiro Yoshinari, Director, Innovation and Design Thinking at the Silicon Valley Branch of Mitsubishi Corporation (Americas).

“We are honored to have conducted the first DLPC transactions with Mitsubishi Corporation (Americas) and Skuchain.  We would like to accelerate the improvements in our ability to provide services to meet customers’ diverse needs by utilizing cutting-edge technologies in trade finance,” said Yoshisuke Maeda, General Manager at Mizuho Bank, Global Transaction Banking Department.

Tod Burwell, President & CEO, BAFT stated “Digitization of trade requires standards as well as supporting legal framework.  We were delighted to work with our members to develop the DLPC for this purpose, and even more excited that this has been successfully put into practice to facilitate live transactions.”

taal-announces-2021-second-quarter-revenue-of-$6.7-million,-and-adjusted-ebitda-of-$629,000

TAAL Announces 2021 Second-Quarter Revenue of $6.7 Million, and Adjusted EBITDA of $629,000

August 23, 2021 Published by

 

TAAL Distributed Information Technologies Inc. (CSE: TAAL) (FWB: 9SQ1) (OTC: TAALF) (“TAAL” or the “Company”), a vertically integrated blockchain infrastructure and service provider for enterprise, announced today its financial results for the three and six months ended June 30, 2021. These filings are available for review on the Company’s SEDAR profile at www.sedar.com  and on the Company’s website at www.taal.com. All financial information in this press release is reported in Canadian dollars unless otherwise indicated.

Second Quarter Highlights

  • As of June 30, 2021, TAAL held approximately 100,900 BitcoinSV (“BSV”) in treasury
  • Gross revenues of $6.7 million for the second quarter ended June 30, 2021, represented an increase of almost 7 times compared to Q1 2021
  • Adjusted EBITDA* for the quarter was $629,000. Net loss for the period was $10.1 million, largely due to the loss on the revaluation of digital assets.
  • TAAL purchased 3,000 Bitmain S19j Pro Blockchain computers due for delivery in Q1, 2022
  • WhatsOnChain continues to deliver on its promise to be the world’s BSV block explorer and data provider, attracting 33.5 million web and API requests in June, and 40 million API requests in July.

Subsequent to the Quarter

The Company has upgraded its previously announced purchase of 1,000 Bitmain S19J hashing machines to 900 S19J  Pro model.  The machines will provide the same amount of hashing power while requiring less electricity and space to host.  The additional investment is approximately $1 million.

The BitcoinSV blockchain has seen an increase in large blocks routinely being processed.  These larger blocks are resulting in higher transaction fees in addition to the block subsidy reward of 6.25 BSV per block.  In July TAAL earned 371 BSV from transaction processing fees and 737 so far in August.  This is compared to 105 and 138 BSV in fees for May and June respectively.

August has been a month of new records for TAAL and the BSV blockchain.  First TAAL successfully mined 3, 1 GB blocks setting a new block size record.  More recently, there was a block of 1.2GB, and for the first time ever transaction fees exceeded block subsidy reward.  The excitement continued with the first ever 2GB Block, earning 10 BSV in fees, in addition to the 6.25 BSV reward subsidy. Scaling the network with bigger blocks that hold more transactions and data supports TAAL’s long-term view that transaction processing fees will generate far more income that block rewards.  TAAL is developing tools and services that help developers and enterprise access the power of Bitcoin.

On the strength of increasing numbers of large blocks successfully mined on the BSV network, the Bitcoin Association has issued an advisory, supported by TAAL, for miners to increase the hard cap settings on Bitcoin SV to 2GB, as of August 13, 2021. This network scaling with bigger blocks that hold more transactions and data supports increased transaction capacity while maintaining low transaction fees to facilitate use and utility.

Stefan Matthews, TAAL Executive Chairman and Chief Executive Officer said, “The solid results that we report today for Q2 2021 reflect the success of our team through several strategic initiatives. The first half of 2021 saw growth of our processing power as we prepare for higher transaction volumes on BitcoinSV.  Bigger blocks, more transactions, and more data on chain are all strong indications of BSV adoption.  TAAL is well positioned to accelerate our strategy to grow BSV application development as well as enterprise demand.”

CoinGeek Conference

The CoinGeek conference is returning to New York City,  from October 5th to 7th to showcase the latest developments on the BSV Blockchain. The BSV Blockchain is revolutionizing the world through its data management solutions because of its scalability, stability, security, and safe instant transactions. There are amazing solutions built on top of the BSV Blockchain that allow Supply Chain Management, Health Care, Global FinTech, Marketing, and many other industries to transform the way they do business. It’s about time you knew about them.  TAAL encourages attendance at this conference, hosted by CoinGeek for those interested in finding out more about it see the link below.

halima-butt-joins-provable-markets-executive-team-as-head-of-strategy-and-sales

Halima Butt joins Provable Markets executive team as Head of Strategy and Sales

August 23, 2021 Published by

 

Provable Markets is happy to report the addition of Halima Butt as Head of Strategy and Sales. In this role, Halima will be primarily responsible for the strategic and commercial direction of the Firm, in addition to assisting with operational oversight of the New York based FinTech. Halima joins Provable Markets as the Firm nears go live (pending regulatory approval) of its ATS, Aurora.

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“We are ecstatic that Halima has chosen to join the team. Halima’s diverse background in the financial world significantly enhances our ability to foster a rethinking of the way trust and fairness is perceived in the markets,” said Matt Cohen, Co-Founder and CEO of Provable Markets. “As we move to the next phase of execution, Halima’s experience and proven track record as a leader in the industry will play a vital role in breaking down the all too common view that integrating with FinTech solutions need to be a long, onerous, and costly endeavor.”

Halima joins Provable Markets from Euronext, where she served as Head of U.S. Platform Sales, and held numerous leadership positions, including sitting on the Global Sales Management Team. Prior to this role, Halima was Co-Head of Euronext’s Financial Derivatives business unit in Europe, and led the company’s business development for the secondary Cash and Derivatives markets in the Netherlands. Halima’s early career helped build the foundation for her extensive breadth of knowledge across numerous products and markets, holding titles of VP of Equity Derivative Sales and Cross Asset Solutions for Société Générale in London, and positions in Derivatives, Treasury, and Equity Finance at ABN AMRO Bank.

“I am thrilled to join the Provable Markets team, and I look forward to furthering the ambitious goals and mission of the company,” said Halima. “It is rare to find a firm with such strong values culturally, combined with the pedigree of engineering and business talent that Provable Markets and our sister company, Provable Labs has assembled. As we focus on our partnership with the DTCC in the near term, and think about our medium and long term strategy and prospects; I believe we are uniquely positioned to fundamentally change the way financial markets operate, and that is incredibly exciting.”

paypal-launches-the-ability-to-buy,-hold-and-sell-cryptocurrency-in-the-uk

PayPal Launches the Ability to Buy, Hold and Sell Cryptocurrency in the UK

August 23, 2021 Published by

 

PayPal (NASDAQ: PYPL) today announced the launch of a new service enabling its customers in the UK1 to buy, hold and sell cryptocurrency with PayPal. This new service starts rolling out this week.

  • Enables access to cryptocurrency for consumers in a secure and responsible way
  • Encourages customers to research and learn about the opportunities and risks in cryptocurrency before transacting
  • Marks first international expansion of PayPal’s cryptocurrency service beyond the U.S.

Customers can choose from four types of cryptocurrencies—Bitcoin, Ethereum, Litecoin and Bitcoin Cash. By accessing their PayPal account via the website or the mobile app, they can view real-time crypto prices, access educational content to help answer commonly asked questions, and learn more about cryptocurrencies, including the opportunities and risks.

This announcement marks the first international expansion of the company’s cryptocurrency offering outside of the United States. With a trusted brand like PayPal now making an entry, access, knowledge, and the exploration of cryptocurrency has the potential to become mainstream in the UK.

“The pandemic has accelerated digital change and innovation across all aspects of our lives— including the digitisation of money and greater consumer adoption of digital financial services,” said Jose Fernandez da Ponte, Vice President and General Manager, Blockchain, Crypto and Digital Currencies at PayPal. “Our global reach, digital payments expertise, and knowledge of consumer and businesses, combined with rigorous security and compliance controls provides us the unique opportunity, and the responsibility, to help people in the UK to explore cryptocurrency. We are committed to continue working closely with regulators in the UK, and around the world, to offer our support—and meaningfully contribute to shaping the role digital currencies will play in the future of global finance and commerce.”

Buy, hold and sell cryptocurrency with PayPal
The introduction of this service offers customers a new way to explore cryptocurrency in the PayPal environment they know and trust. Customers can start by buying as little as £1 of cryptocurrency through PayPal. To purchase cryptocurrency, eligible customers can log into their PayPal account via the website or their mobile app, navigate to the new crypto tab to view the four cryptocurrencies available and view current pricing and trends.

Customers can choose from pre-determined purchase amounts or enter in their own purchase amount, before following the prompts to buy the cryptocurrency of their choice. Customers will be able to fund their PayPal account for the purchase using their bank account or debit card. If customers choose to sell cryptocurrency with this new service, funds are normally available quickly to spend in their PayPal account. There are no fees to hold cryptocurrency in a PayPal account. There are transaction fees and currency conversion fees for buying and selling applicable cryptocurrencies.

Create greater understanding and enable access
As part of this offering, PayPal provides account holders with educational content to help them understand the cryptocurrency ecosystem, the volatility, risks, and opportunities related to purchasing cryptocurrency. The company encourages its customers to do their research on the risks and opportunities for various cryptocurrencies before taking the step to buy, hold and sell cryptocurrency with PayPal.

Advancing the next generation of financial services infrastructure
PayPal is one of the largest companies globally to enter the market for digital currencies with its announcement last October that it would allow its millions of U.S. customers to buy, hold and sell cryptocurrencies. This March, the company announced ‘Checkout with Crypto’— enabling customers in the U.S. to use their cryptocurrency alongside other payment methods in their PayPal wallet to make purchases at businesses around the world. In April, the company introduced crypto services on its mobile payment service Venmo in the U.S.

In addition to providing these cryptocurrency services, PayPal has been exploring the potential of digital currencies through partnerships with licensed and regulated cryptocurrency platforms and with central banks around the world. For the past five years, PayPal has increased its focus on, and invested resources in its internal blockchain research team to explore the next generation of digital financial services infrastructure and enhancements to digital commerce.

The company has enabled its cryptocurrency offering through a partnership with Paxos Trust Company. PayPal’s venture capital arm has also made investments in blockchain and cryptocurrency-related start-ups including: TRM Labs, leading cryptocurrency risk management software; TaxBit, a provider of crypto tax software to customers and exchanges; and Talos, institutional-grade infrastructure technology for digital asset trading.

In the UK, PayPal’s new crypto offering which covers buying, holding and selling cryptocurrency will start to roll out this week and will be available within the next few weeks for all eligible customers directly in their PayPal account via the website and their mobile app. To learn more, visit our Newsroom or www.paypal.com/uk/crypto.

binance-expands-global-kyc-requirements-to-further-user-protection

Binance Expands Global KYC Requirements to Further User Protection

August 20, 2021 Published by

 

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the global rollout of its Intermediate Verification requirement for all users.

Intermediate Verification supports Binance’s Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts as part of the organization’s redoubling of efforts to further enhance user protection and risk management protocols.

Changpeng Zhao (CZ), Founder and CEO of Binance, said: “User protection is an integral part of our DNA and core values. Our vision is to create a sustainable ecosystem that is safe for all participants. In the last four years we have laid the groundwork by investing heavily in security and user protection, supporting law enforcement from around the world with high-profile investigations and helping cybercrime victims recover millions of dollars worth of stolen funds.”

“We aim to work more collaboratively with policy-makers to improve global standards and discourage bad actors.”

In the last 30 days, Binance has announced significant investments towards user protection, including (but not limited to) senior compliance appointments, compliance technology deployments, Tax Reporting Tool launch, updates to leveraged trading, changes to withdrawal limits and updates to API services.

sharemine-ai:-singapore-based-eco-friendly-cryptocurrency-mining-service-launches,-lowering-barriers-of-entry-for-all

Sharemine AI: Singapore-Based Eco-Friendly Cryptocurrency Mining Service Launches, Lowering Barriers of Entry for All

August 19, 2021 Published by

 

Cryptocurrency mining service provider, Sharemine AI, has officially launched today. Operationally ready since January 2021, Sharemine AI offers users a fully comprehensive range of green cryptocurrency mining services with the goal of making the logistical and tedious process of mining hassle-free and accessible to users of varying cryptocurrency mining backgrounds and capabilities.

Founded and headquartered in Singapore, Sharemine AI was formally established by Founder and CEO, Jimmy Li, together with Co-founder, Herbert Sim, also commonly known as “The Bitcoin Man”. Having collective experience in the complex finance, blockchain, cryptocurrency investment and digital currency fields, the platform was developed by the two with the vision of lowering the barriers of entry into cryptocurrency mining, allowing people to join the industry freely, regardless of the availability of mining resources to them.

Sharemine AI’s Service Offerings: Eco-friendly Mining

Through Sharemine AI, users can mine a wide range of cryptocurrencies including Filecoin, Phala and Swarm (BZZ), as well as more popular and volatile cryptocurrencies such as Bitcoin and Ethereum. Mining done through Sharemine AI is more eco-friendly, as the platform only mines with energy generated from hydro and solar power, making for not only an uncomplicated, but more sustainable form of cryptocurrency mining.

One of Sharemine AI’s highlights in particular, is its Chia mining service through its network, Chia Cloud. Chia Cloud is a decentralized open source global blockchain network that uses a blockchain consensus algorithm called “Proof of Space and Time”, with the sole focus of mining Chia tokens. As Chia mining’s main resource is the use of hard disk space instead of computing power, it is a form of green cryptocurrency mining and is more sustainable as opposed to the “Proof of Work” algorithm, which uses up a far greater amount of energy.

Benefits of mining through Chia Cloud’s network include its use of anchored mining machines, open hash power and transparent prices for users. This is so, as Chia Cloud’s network connects directly with hardware manufacturers such as chips and hard disks, which supplies Chia Cloud with physical mining machines at supplier prices. Leveraging the advantages of the supply chain, Chia Cloud is then able to charge users for its services at prices no more than the cost price of mining machine services, removing the mark-ups in price by middlemen. As such, the network provides users with the opportunity to mine for Chia tokens at a competitive cost, to allow them to receive the greatest return on investment.

Additionally, independent Chia mining would typically require miners to run complex mining operations themselves, making mining a tedious and difficult process for people. With Chia Cloud’s services, the need for users to go through extra steps such as purchasing their own hard drives and dealing with the logistical aspects of mining is eliminated, enabling them to mine for Chia tokens with ease. Furthermore, as Chia is energy saving, using less processing capacity and a fraction of energy compared to other cryptocurrencies, users can simply connect their laptops to their broadband network and mine for tokens from the comfort of their homes.

Mr Jimmy Li, Founder and CEO of Sharemine AI, said, “As the name may suggest, Sharemine AI was founded with the intention of allowing the everyday person to enter the cryptocurrency industry through a safe and collective platform shared amongst users. Our ultimate aim is to lower the barriers of entry into the cryptocurrency pool for all, regardless of one’s previous experience with cryptocurrency and access to mining resources.”

With Chia mining projected to be one of the top five cryptocurrencies in the near future, the goal of Sharemine AI’s services is to essentially enable anyone to mine these top cryptocurrencies in an affordable and simplified manner. Sharemine AI aims to be the biggest mining pool in the world, and is currently already working alongside top reputable partners and suppliers, such as Alibaba, Huawei and Seagate.

hoge-token-aims-to-go-global-with-community-projects-like-hoge-university-&-an-nft-marketplace

HOGE Token Aims to go Global with Community Projects like HOGE University & an NFT Marketplace

August 19, 2021 Published by

 

The Hoge community is developing multiple use cases for the token to attract people from all around the globe and different walks of life. The community is currently leveraging its legal team and not-for-profit Swiss Association to sign partners and design a Decentralised Autonomous Organization (DAO) to keep the Hoge ecosystem safe and optimized without intermediaries. Tech billionaire Mark Cuban was recently quoted supporting the DAO structure, describing it as “the ultimate combination of capitalism and progressivism.”

Crypto Communities Care

One of the critical decision-making components of the DAO will be which charities the platform will support. To date, the Hoge community has raised over $60,000 for non profit organizations including: International Animal Rescue and English Bulldog Rescue of Ontario, Patriot Paws, First Responder’s Children’s Foundation, St. Jude Children’s Research Hospital, the Humane Society. The sentiment around crypto communities heavily favors humanitarian efforts, with tokens being specifically designed to support underfunded causes. Hoge is continuing its charitable efforts in partnership with WhiteBIT to contribute to 5 non-profits every month for the next five months.

The HOGE token’s implementation of “tokenomics” is based on an intelligent burn system. A 2% tax is levied on all transactions to encourage holdings. This amount is split as a weighted distribution between all the holders and burn addresses. This means that every time HOGE is used to pay for something, the scarcity of all the remaining tokens increases.

Hoge targets gaming & esports enthusiasts with the release of several community-built games with playable demos. The team is working on a 100% HOGE-owned and operated NFT marketplace to create opportunities for artists and members. The mission is to forge new use cases and encourage partnerships that continually reward creators for their work. It will also empower community members to share their visions, collections and work. The NFT marketplace is expected to be a large revenue source for HOGE Finance when integrated with the existing e-commerce and merchandise platform already available on HOGE’s website. Traditional gaming partnerships featured public sports figures like MMA champion Juan Archuleta and the 1st division Holland soccer club ADO Den Haag.

Hoge Programs are Unique

Besides all these brilliant offerings, the Crypto Company team is also building “Hoge University,” a platform that will help people search for recent articles and educational courses. It will expand the scope of learning and attract thought leaders from various trending industries to train the community in unconventional areas like content creation and crypto. Every course will be created by industry leaders who share their experiences, knowledge, and expertise and help build community members’ confidence.

One exciting program to come out of the community is the Hoge Aerospace Institute (HAI). With the goals of furthering economic growth, opportunity, and broader outreach, the institute has begun development of various aerospace products. The team is working with Universities for cooperative development of a space program and cubesats. The number of nano-satellites being launched into orbit has grown exponentially in recent years with SpaceX’s Starlink program and other companies entering the telecommunications business in space. HAI is also innovating solutions on the blockchain by implementing resource allocation into non-fungible tokens, giving the recent NFT market a more service sector oriented approach. The combination of the crypto community, blockchain technologies, and educational partnerships gives this unique company a bright future in DeFi.

HOGE is a deflationary cryptocurrency that was built on the Ethereum blockchain and is the original DeFi-powered meme token.  It’s designed to decrease in supply every time a transaction, swap, trade or transfer is made with it.  This is called “burning’ and allows the price to increase over time with the efficient burning strategies HOGE has created. Ultimately, this leads to a constant reduction in the existing supply while concurrently increasing the demand for token. HOGE token is currently available on top centralized custodial exchanges like WhiteBit and Gate.io and plans to list on various other top exchanges with millions of customers.  It can also be traded on swaps like Guardarian and ChangeNow.io, where major coins like Doge or Bitcoin can be instantly sold cross-chain without custody. The token is bridged to the BSC and Fantom networks through a partnership with AnySwap and is available on popular decentralized exchanges like Uniswap and Pancakeswap. All these efforts are a part of HOGE’s major marketing campaign #HOGEeverywhere, which aims to make HOGE conveniently accessible across the broadest possible range of blockchains and exchanges, in addition to bridging communities in media, arts, sports, gaming, education, tech, and finance.

ekta-collaborates-with-unixgaming-to-sponsor-blockchain-scholarships

Ekta Collaborates with UnixGaming to Sponsor Blockchain Scholarships

August 18, 2021 Published by

 

Ekta, a new NFT and DeFi blockchain mainnet which merges the on-chain world with the physical-world, is pleased to reveal its collaboration with UnixGaming—the largest play-to-earn Axie Infinity Guild community on Discord, boasting over 75,000 new members this month alone.

Axie Infinity, an Ethereum NFT-based online video game developed by Vietnamese studio Sky Mavis, is rapidly becoming one of the most significant blockchain-gaming titles in the world. As a blockchain-enabled gaming universe where anyone can earn tokens through skilled gameplay and contributions to the ecosystem, Axie has attracted thousands of players from developing countries in the pursuit of a new income stream during the COVID pandemic.

Many of these new players have never used blockchain technology before, which is why Ekta and UnixGaming — one of the most populous guilds for Axie Infinity — have teamed up to offer blockchain scholarships to Axie Infinity players, so that they can play-to-earn and receive blockchain education at the same time.

Berwin Tanco, Co-founder and CEO at Ekta, says:

“What we’re really hoping to achieve through this collaboration with UnixGaming is the creation of a new class of entrepreneurs from developing economies. New value models, such as play-to-earn, are teaching the youth in economically disadvantaged areas new methods of wealth creation—which we hope will inspire them to build new projects that can be incubated and encouraged through the Ekta ecosystem. We look forward to supporting UnixGaming’s future endeavours.“

With sales of Axie Infinity’s NFT collections exceeding some US$42 million since June 2021, Ekta also hopes to learn valuable insights into the NFT marketplace that it can leverage for its own NFT offerings.

Mirko Basil, Cofounder at UnixGaming, says:

“We are thrilled to work alongside Ekta, who share our vision of utilizing blockchain to give everyone a chance at a better life. This relationship is a natural fit, and our Axie Infinity Guild is just the start for UnixGaming’s missions. With Ekta’s continued support, we can now look to fulfill our vision of bringing opportunities to people from developing countries through gaming and blockchain education, while also creating a profit sharing structure for our investors and token holders alike. We look forward to a long and fruitful relationship with Ekta!”

Ekta will soon launch its token sale, making $EKTA available for purchase on the 20th of August, 2021 at 15:00 UTC. You can whitelist now to participate.

For more information, read the Ekta whitepaper here or follow them here:

To learn more about UnixGaming, join their social media channels:

vechain-further-enables-producers-market-to-bring-the-competitive-benefits-of-public-blockchain-technology-to-america’s-family-farms

VeChain Further Enables Producers Market To Bring the Competitive Benefits of Public Blockchain Technology To America’s Family Farms

August 18, 2021 Published by

 

Oatman Farms Premium Provisions is an Arizonian family-owned farm, passed down over four generations. Their products quickly became a staple during the pandemic – sourdough mixes. Despite selling a high-demand, on-trend breakout product, Oatman Farms needed a solution to mitigate the impacts of COVID-19 on the global food industry while addressing explosive growth in consumer demand for transparency, trust, and economic equity in value chains.

Enter Producers Market & VeChain – long-standing partners who continue to collaborate and unlock the competitive benefits of blockchain technology for producers and farmers worldwide. In December 2020, the two organizations collaborated on KnowSeafood.com, guiding consumers to high-quality, genuine sustainable seafood, a shining light amidst a background of global seafood fraud.

Producers Market is the creator of StoryBird, a powerful application that connects a consumer to the supply chain story of a given product. Powered by VeChain ToolChain™, the StoryBird application collects and uploads authentic product information onto the VeChainThor Blockchain. By doing so, the application enables all stakeholders, from farmers to processors, added-value parties and e-commerce platforms, buyers, and end consumers to validate product origin. Oatman Farms is the latest brand to sign on to use the groundbreaking platform for its product marketing.

“Oatman Farms adopted StoryBird for its farm and organic baking mixes because it allows us to showcase and differentiate our farming practices, ingredients and finished products with clarity, flair and transparency,” said owner Dax Hansen. “We have compelling stories to convey about our food, and StoryBird makes that storytelling easy, dynamic and feature-rich.”

Today 86% of US consumers believe brand transparency is more important than ever. 73% of consumers are willing to pay more for products guaranteeing total transparency. For brands, StoryBird offers a competitive advantage by allowing businesses to highlight the unique attributes of their products.

“StoryBird is a tool that connects people with the journey of their products by allowing them to actually see the people and communities who are economically impacted by their purchase, as well as tracing the product’s supply chain,” said Alex Karzag, head of product at Producers Market. “The idea is to give consumers the choice to buy a product that represents their values, whilst fostering greater equity and accountability in agricultural supply chains all around the world.”

Producers Market and Storybird chose VeChain to support blockchain integration due to its easy-to-deploy, cost-effective and scalable design.

“VeChain’s architectural structure was also a key factor as it readily allowed us to apply a Resources, Event, Agents (REA) accounting approach, a modeling technique that traces all the resources in a supply chain, captures the value creation pattern in all interactions, and reveals why business processes occur,” Karzag explained.

“We are happy to offer a reliable and cost-effective approach for our long-term partner, Producers Market, and address the challenges of their clients. As the leading enterprise public blockchain, VeChain’s technology has been used to boost transparency and track products throughout the wide-reaching global supply chain, and will be supporting the onboarding of more brands in the future.” Chief Marketing Officer of VeChain, Yvette Xia, added.

With Producers Market and VeChain working behind-the-scenes, Oatman Farms can focus on what it does best: produce delicious wholegrain, nutrient-dense baking mixes. All the while, consumers are assured through blockchain with a wholesome story baked into each fresh loaf.

Nothing tastes better than that.

binance-hires-former-us-federal-law-enforcement-investigator-greg-monahan-as-global-money-laundering-reporting-officer

Binance Hires Former US Federal Law Enforcement Investigator Greg Monahan as Global Money Laundering Reporting Officer

August 18, 2021 Published by

 

Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has today announced the appointment of Greg Monahan, former US Treasury Criminal Investigator, who joins the organization as Global Money Laundering Reporting Officer (GMLRO).

Mr. Monahan has nearly 30 years of credited government service, a majority of which as a US Treasury Criminal Investigator, responsible for tax, money laundering and other related financial crime investigations. He has led complex international investigations that have resulted in the takedown of some of the most prolific cybercriminals, nation-state actors and terrorist organizations.

“Binance has a strong culture of putting their users first, from providing market-leading products to supporting high-profile investigations that help make the crypto industry a safer place,” said Mr. Monahan. “My efforts will be focused on expanding Binance’s international anti-money laundering (AML) and investigation programs, as well as strengthening the organization’s relations with regulatory and law enforcement bodies worldwide.”

Binance CEO Changpeng Zhao (CZ) said: “We have always held Binance to the highest standard to safeguard our users’ interests, and to that end we are always expanding our capabilities to make Binance and the wider industry a safe place for all participants.”

“As a former US Federal Law Enforcement Investigator, Greg Monahan brings a wealth of AML and investigations experience to Binance. We’re thrilled to welcome him to our team as GMLRO and we look forward to his contributions.”

Karen Leong, who has held the GMLRO position since 2018, remains at Binance as Director of Compliance and continues to promote compliance efforts within the organization.

Binance has grown its international compliance team and advisory board by 500% since 2020. Notable appointments include Jonathan Farnell as Director of Compliance, former FATF executives Rick McDonell and Josée Nadeau as compliance and regulatory advisors and former US Senator Max Baucus as policy and government relations advisor.

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