Wednesday events: the Largest Japanese trading company Rakuten will introduce its own cryptocurrency; J. P. Morgan again changes his mind about crypto currency, and published contradictory reports; Central Bank of Malaysia has introduced rules relating to user authentication exchanges; bill gates has caused fury among users Reddita; Calm on the exchanges.
• A major Japanese retail company Rakuten will introduce its own cryptocurrency:
Largest Japanese trading company Rakuten, the market capitalization of which exceeds 12.5 billion dollars, plans to introduce its own cryptocurrency, called Rakuten Coin based on the Blockchain technology and existing loyalty program, Rakuten Super Points.
The announcement was made the President and founder of Rakuten, Hiroshi Mikitaniego, during a speech at the Mobile World Congress in Barcelona, 27. Feb p. G. Mikitani has described the recently announced resource as a «currency without borders», underlining the vision of Rakuten, which distinguishes itself from its competitors in retail, such as Amazon, Alibaba or eBay.
In principle, our vision is a network of retailers and merchants. We don’t want to disconnect them from customers, but to act as a catalyst. That is our philosophy as to strengthen society, not only in order to provide more convenience.
Loyalty system Rakuten Super Points was released 15 years ago, and since then has achieved significant success, resulting in a total production of more than 1 trillion points Super Points in favor of clients of Rakuten, which cost about 9.1 billion. Points earned for each time a customer makes a purchase on the market and you can use them to zdyskontowania future purchases or acquisition of certain goods or services on the platform of the online store.
The company intends to implement a loyalty program based on Blockchain to attract and attract customers and to capitalize on the growing interest in kryptowalutami to recruit new members loyalty on a global scale. Optimistic, however, did not provide any details about the launch date of the services.
A recent advert appeared almost two years after Japanese Rakuten has acquired the intellectual property assets, Bitcoin payments processor BitNet, and opened Optimistic Blockchain Laboratory to study the program for the Blockchain to e-commerce and fintech.
• J. P. Morgan again changes his mind about crypto currency, and published contradictory messages:
J. P. Morgan Chase added a segment that relates to crypto currency in the section «risk Factors» in its annual report 2017 for the American Commission on Securities and exchange Commission (SEC), yesterday, 27. Feb. The annual report lists kryptowaluty in the section «Competition», describing how there are new competitors threat of action J. P. Morgan:
As financial institutions as their competitors niebankowi face the risk that payment processing and other services may be concerned about technologies such as kryptowaluty that do not require mediation.
The report notes that these new technologies, including, of course, the Blockchain, though not his name, may demand from JPMorgan Chase issue more money to modify or adapt their products to attract and retain customers, and also to compare the proposed products of competitors, including tech companies.» This competition could potentially exert pressure on reduction of prices and payments for goods and services JPMorgan Chase or can lead to loss of market share through JPMorgan Chase».
Last week Bank of America (BOA) has published its annual report, which contained mention of kryptowalutach as a danger for their business, with the risk of competition described in very similar categories:
Wide application of new technologies, including Internet services , kryptowaluty and payment systems, may require significant expenditures to modify or adjust our existing products and services.
CEO of JP Morgan Chase Jamie Dimon, played the scene in September 2017, when he called Bitcoin a «fraud» and threatened with dismissal for each employee, which will make transactions related to Bitcoinem and account. Since that time, Dimon stepped back a little, speaking to Cointelegraph reporter at the world Economic Forum in Davos, is not a skeptic on crypto currency.
In early February, the known internal report JP Morgan Chase belonged to the crypto currency as «innovative» and «unlikely disappearances» and to ensure that the cryptocurrency can be successfully applied in the areas of payment systems, which are traditionally problematic or slow.
• Central Bank of Malaysia has introduced the rules concerning user identification job boards:
Exchange for crypto currency in Malaysia now needs to fully identify the business entities after the entry into force of the new laws against money-laundering in force at the Central Bank on Tuesday, 27. Feb.
A copy of the legislation and the official press releases of the Bank Negara Malaysia (BNM) provides that any exchange that offers cryptographic operations, such as «crypto fiat», «fiat-crypto», and even «crypto-crypto» needs to identify the customer and verify his identity. As reported by Cointelegraph in November 2017, prognozując rules, the BNM Governor, tan Sri Muhammad bin Ibrahim, have focused on the need to control the potential use of digital currencies for criminals.
The emergence of digital currencies, as some predict that this will be the beginning of a new era in the financial sector. As government, we can’t forget about those events.
the Governor said the national Bank.
Currently, operators giełdowi must comply with various laws on «due diligence in respect of customers» (CDD) before allowing new and existing accounts to legitimate the continuation of the activities. In accordance with the law need a reliable independent source documents, data or information, and in particular, the identity document issued by the government:
Leading CDD for the individual client and the beneficial owner, the institution is committed to sprawozdająca, at least the following information:
(a) name and surname;
(b) the number of the state registration certificate (NRIC) or passport number or identification number of any other official documents which contain a photograph of the customer or beneficial owner;
(c) address of place of residence or postal address;
(d) date of birth;
(e) nationality; and
(f) the purpose of the agreement.
Formal actions aimed at increasing transparency in the markets transactions kryptowalutowych traditionally perceived user with optimism. In Asia, the Japanese exchange program licenses, the preparation of which began in April last year, contributed to the weight gain and the argument that such measures are necessary to allow kryptowalucie debut to a wider audience.
Neighboring South Korea is also considering licensing system of the stock after the election in June last year, previously saying that all users of the exchange must associate the identity of your account with a Bank account.
• Bill gates has caused fury among users Reddita:
Bill gates, founder of Microsoft Corporation, caused a rage among users Reddita, saying that kryptowaluty «rare technology, which caused death in a fairly direct way», during a session of «Ask Me Anything» on Reddit 27. Feb.
The main feature of bitcoin is its anonymity. I don’t think it’s good. The government’s ability to find situations in money laundering, tax evasion and the financing of terrorism is a good thing. At the moment kryptowaluty used to buy fentanyl and other drugs, so it is a rare technology that led to the death in a pretty direct way. I think that the dive wave around ICO and crypto currency is very risky for those who are on it.
While the number of purchases of drugs through the Internet increases, the vast majority of drug users still buys illegal substances with more «traditional» methods. According to the global research, against drugs, 2017, regardless of the country, less than half of the drug users buying substances dark web – the so-called dark Internet. The global percentage of drug users who use the dark web is 10.1 percent.
Global Drug Survey
Gates ‘ comments have drawn sharp criticism from users Reddita that take part in the discussion. While some advised the gates to re-read the Bitcoin white paper, and the other threw him that it was an attempt by crypto marketing with his celebrity status.
When one of the users pointed out that currency fiducjarne can also be used for illegal activities such as money laundering, tax evasion, funding terrorism and buying drugs, gates said that the need for the physical presence that makes illegal actions and transfers more difficult:
So, anonymous monies will be used to this sort of thing, but you have to be physically present to make them move, making it difficult to such actions.
In 2015, the position of the founder of Microsoft for the crypto currency was much more optimistic. In an interview with Eric Schatzkera Smart Street, Bloomberg TV, gates said that «Bitcoin is better than currency …». In addition, in the framework of the initiative «financial Services for the poor», bill and Melinda gates Foundation sponsored the development of the infrastructure of the Blockchain for merchants in Kenya to accept the crypto currency.
While gates remains skeptical about the crypto currencies, Blockchain technology base also remains an area of interest to Microsoft, which has moved ahead without his direction as CEO. Over the past year, Microsoft has been involved in several business ventures connected with the technology of the Blockchain, such as Microsoft Azure or Coco Framework.
The company recently announced that it wants to integrate decentralized IDs that is based on the Blockchain in the Microsoft Codes. Microsoft decided that the technology and protocols Blockchain is well suited for the task of design; the creation of a secure and decentralized forms of digital identity.
• Peace of mind on the exchanges:
In the last days of the market capitalization for bitcoin has decreased by 9.2 billion dollars and is currently 447,7 billion. Total turnover on the stock exchanges in recent days, falling at 17.2 billion dollars. This testifies to low activity of investors who might be waiting for the development of the situation on the world stage. The price of Bitcoin has dropped slightly and is 10.530$. The largest currency behave exactly the same: Ethereum has reduced the value of 0.6%, Ripple Is 2.7%, Litecoin 3.8%, The Neo 3%.
source: cointelegraph.com, coinmarketcap.com.