With poniedziałkowych of events: the Central Bank of Lithuania takes the 100-million ICO under a magnifying glass; Lenovo has developed a system of verification of documents based on the Blockchain; Crypto-Scam affected at 1.2 ths. Australian investors; Report S&P Global Ratings – kryptowaluty require adjustment of development; On exchanges minor trend.
• The Central Bank of Lithuania takes the 100-million ICO under a magnifying glass:
The Central Bank of Lithuania announced that ICO explores Lithuanian company, after determining that the token is a security. The organization said in a statement that the company had contacted Bankera, in connection with its sale of markers, which was advertised on two sites and has reached more than 80 million euros. The official website of the ICO claims that it has already collected more than 100 million euros on the sale, which should be completed next week.
On the basis of the information received, the Central Bank believes that the sale of tokens constitutes an offer of securities in accordance with the state law.
In addition, [ICO] distributes its official [kryptowalutą] and has already attracted more than 80 million euros. Given the characteristics specified in the header, and on the basis of information provided by the business plan Bankera, said that the ICO is included in the scope of the securities act, that is considered to offer domain and, therefore, must be in accordance with the established requirements.
– according to the Bank of Lithuania.
The organization suggested that might make further action as a result of research and ended with a warning to advertisers selling tokens:
The Bank of Lithuania also reminds broadcasters about the requirements of legal acts relating to the distribution and promotion of instruments with features of securities, but also reminds that the law on advertising prohibits advertising actions that violate the requirements of legal acts.
Measure-this happened a few months after Lithuania issued guidance on the use of Blockchaina, being thus one of the many institutions that have made this last autumn. This wave of statements occurred after the definition specified by the Commission on Securities and exchange Commission (SEC) in July, when the regulator said that its rules on securities apply to certain sales counters.
• Lenovo has developed a system of verification of documents based on the Blockchain:
A new patent application from Lenovo suggests that the Chinese tech giant could use the Blockchain technology as part of the system to test the physical documents. In a statement issued at the patent and trademark office (USPTO) last Thursday, Lenovo describes a configuration that uses a digital signature to the encrypted documents of individuals, which can be processed through computers and other machines, to verify the legitimacy of the document. The application was submitted for the first time in August 2016., according to the state archives.
Machine processing decrypts the signature and translates it into a digital map of a document that you can then compare with the physical copy. Lenovo explains that it refers to the Security of the Blockchain distributed database, which maintains a constantly growing list of data protected from unauthorized access and changes. They say that each block contains information about the physical document in different time points.
With Security of the Blockchain, anyone can confirm that is true and genuine document, the physical, even if there are many copies of the paper, and a lot of people record in the chain changes. If any fakes exist, appear in the form of missing blocks in the chain. To confirm the paper copy, the user of the electronic device makes the photo printed code on the physical document.
– Lenovo writes on their product.
Lenovo claims that the benefits of the product is that all parties have copies of this document to assure that each of them is looking at an exact copy at any time, eliminating the possibility that the text was substantially changed.
This is not the first experiment with Lenovo Blockchainem. Last year Forbes reported that IBM began to collaborate with the company over billing system based on Blockchainie. The report suggested that the agreement was intended to make the processes of clearing and transaction was more traceable and transparent.
• Crypto-Scam affected at 1.2 ths. Australian investors:
Fraud kryptowalutowe spawned more than 1,200 complaints Australian on monitoring of consumer rights in 2017. Data obtained from the Australian Competition Commission and Consumer (ACCC) to identify 1,289 complaints, some of which seem to relate to ICO. Australia has not responded to recent queries from international regulators to carefully track sales of markers kryptowalutowych and related actions.
Since the World Economic Forum in late January 2018, the American Commission on Securities and exchange Commission (SEC) has prepared plans for further control of the financial products that were then repeated through other legal entities, including the European Union.
This is a fairly speculative products and can be very risky (…). It was documented that some of these products are scams, so do not trade if you are willing to lose some or all of their money.
writes John Price, European Commissioner for financial surveillance, Australian Commission of Securities and Investments (ASIC).
• Report S&P Global Ratings – kryptowaluty need to be adjusted for development:
S&P Global Ratings has published a report that details a possible future of global financial markets relative to markets kryptowalutowych. Despite the fact that the collision of these markets in early February, was their timing, Mohamed Damak, chief financial officer S&P Global Ratings do not consider the correlation significant:
A significant decrease in the market value of crypto currency will be small, the impact on the financial services industry, still too small to affect the stability or impact the solvency of banks, which we appreciate.(…) We expect that banks will be evaluated largely isolated, as a direct or indirect impact on the crypto currency seems to be limited.
Damak he also stressed the importance of regulation in the field of crypto currency, which proposes:
We believe that future success in crypto currency will largely depend on a coordinated approach of global regulators and decision makers, with the aim of resolving and improving the trust of market participants to these tools.
The report also says that Blockchain technology can lead to positive obstacles in global financial markets.
• Exchanges slight increase:
Total market capitalization for the last day increased by 11 billion dollars and is now 504.1 billion. Best currency with very few exceptions, went up the hill – Bitcoin 3.8%, Ethereum 1.2%, Ripple and Bitcoin Cash queue by 0.6% and 0.9%. Significant growth was demonstrated Ethereum Classic, by 20.1%. Fell, and Litecoin and Cardano, 1% and 0.3%. Total market turnover amounted to 19.3 billion dollars.
source: cointelegraph.com, coindesk.com, coinmarketcap.com.