Atletico Madrid Football Club Will Issue Tokens That Can Be Obtained “Hunting”

Maria Rodríguez
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Atletico Madrid Football Club Will Issue Tokens That Can Be Obtained “Hunting”

The application will allow hunting tokens as if they were pokemon. Users may have unique benefits with the club by having a certain amount of these assets.

Last January, it was announced that the renowned football team of the Spanish league Atletico Madrid launched its tokens, which can be acquired using an application similar to Pokemon GO.

The initiative puts thefootball clubamong the teams that have taken a positive stance regarding cryptocurrencies and the crypto industry. The so-calledFanTokens of AtleticoMadrid have created thanks to the alliance of the club with the technology firm Socios.com. The announcement of the launch was made public through the official Twitter account of the team in mid-January 2020.

Among the information that is known in this regard, theAtletico Madrid tokens will have an average value of 2 euros, which could vary over time due to market volatility. It is known that Fan Tokens will be enabled to operate in a single network for prizes that will be directed by the club.

Finally, it was emphasized that through this network it will be possible to exchange these tokens for Chilliz, the official cryptocurrency of Atletico Madrid’s business partner, Socios.com.

The main characteristic that makes these tokens different is the possibility of acquiring prizes after obtaining these assets. As long as the user accumulates more of these tokens, he or she would have more chances of having unique prizes from Atletico.

Until now, the only limitation that the token has is that once users have acquired these tokens, they cannot exchange them for another cryptocurrency or fiat money. The restriction reduces the range of action of these tokens so this would only serve to make use of them in the private network.

Hunt Your Tokens

One of the main possibilities these new tokens offer is the ability to “hunt” or “capture” these assets that are distributed throughout the city of Madrid. The developers were inspired by the popular mobile phone game Pokemon GO, which makes Fan Tokens more dynamic and striking.

The idea of ​​converting the application into a method similar to Pokemon GO was approved by the entire team responsible for creating the system since, as the team thinks, this would be an excellent way to promote the tokens.

Interest in Tokens is Increasing

According to some experts, if this innovative proposal will succeed, there is a greater possibility of establishing this technology more firmly in the market, just as it would help raise the level of user confidence.

Once users obtain benefits exchanging these tokens, the population will begin to have a different opinion of this technology. In this way, they would not only use the Atletico Madrid Fan tokens, but they would also be entering a global cryptocurrency market.

The expansion of the crypto world continues thanks to new developments that bring people closer to new technologies. In this way, they take advantage of these technologies whilst learning how to use them.

By María Rodríguez

LINE Will Launch Its Digital Currency in Japan

Maria Rodríguez
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LINE Will Launch Its Digital Currency in Japan

Link allows its holders to access a wide range of services and decentralized applications, which are known in the crypto world as “DApps”.

LVC Corporation, a subsidiary of messaging giant LINE Corporation (LINE) announced it will launch trading of its proprietary cryptocurrency Link in Japan next April 2020.

In this way, local media reported that LVC, that also is the operator of LINE’s cryptocurrency and blockchain-related businesses, is developing a system meant for Link’s debut in Japan on its local cryptocurrency exchange BitMax.

This digital currency was not available in Japan although its launch on October 16, 2018, through the cryptocurrency exchange BITBOX.

Due to strict cryptocurrency regulations in Japan, LVC had to wait to obtain a license from Japanese financial regulators, something that took place in September 2019 before launching BitMax cryptocurrency exchange in the country.

Link is not available in the United States yet. However, the currency is available in other countries around the world and now it is time for Japan.

On the one hand, there are not many details about the launch. LVC is currently developing a system to prepare LINK’s debut in Japan. On the other hand, the coin’s exact release date will be announced separately once it is determined by the company.

According to the official website of LINE, Link allows its holders to access a wide range of services and decentralized applications (DApps). DApps are networks in which users have full control of their operations. In this way, DApps allow people to access different services safely.

“Our goal is to build a token economy that can be used by anyone, conveniently and naturally as part of daily life”, the currency’s white paper explains on the official website.

Messaging Platforms and Cryptocurrencies

Besides, on its official website, LINE comments that more than being just a mobile messenger, it has become “a smart portal that provides comprehensives solutions for all aspects of our users’ lives”.

LINE explains the reasons why it launches a digital currency: “Through the launch of our blockchain and token economy, LINE is optimizing how we share value and promote mutual growth as we continue to transform into a new digital era”.

Since Link can be used for a wide range of services, LINE assures that this feature makes the digital currency “more valuable than a crypto-asset that is limited to a single service”. It adds that a single-token economy can make the overall ecosystem “more dynamic and stable” because DApps could contribute to the growth of the economy.

Other social networks are interested in developing cryptocurrencies to establish its crypto economy. The best-known examples are Facebook, with Libra, and Telegram, with GRAM.

Both Kik and Telegram are currently struggling in legal battles with the United States Securities and Exchange Commission (SEC) over the alleged sale of unregistered securities to U.S. citizens. Kik recently requested the formal definition of a trial date for its lawsuit with the SEC whilst SEC fortified its case against Telegram.

Facebook also has had problems to launch its digital currency since governments like Germany, France, and the US consider the social media giant has a lot of personal information about their users.

However, messaging platform ideas are enough to discuss and consider launching or not global alternatives to traditional currencies and change, in this way, the traditional business world.

By María Rodríguez

The United Arab Emirates Health Ministry Will Use Blockchain to Store Data

Maria Rodríguez
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The United Arab Emirates Health Ministry Will Use Blockchain to Store Data

Blockchain technology will help users streamline the search for health facilities and ask for medicine supply chains.

The UAE’s Ministry of Health and Prevention (MoHAP) together with the Ministry of Presidential Affairs, Dubai Healthcare City, and other relevant authorities recently launched a blockchain-based health data storage platform to store the most relevant information in the area.

This would be their first advanced digital platform to store the data for health, pharmaceutical government and private facilities, health practitioners, and drug information as well, something that would help save time and find the information in a faster and efficient way, which is very important in the health sector.

Raising the efficiency of MoHAP and other health authorities’ smart health services is one of the objectives of this new platform. According to local media, it will also help users streamline the search for health facilities and its licensed medical and technical personnel. Besides, users will be able to ask for medicine supply chains to find the product they need. All of this is conducted in three steps through the MoHAP App.

However MoHAP has plans not only with blockchain technology. The UAE’s Ministry of Health is planning to use Artificial Intelligence (AI) in its processes. Local media explain that this Ministry looks to incorporate AI by 100 % in health services. In this way, MoHAP is following the UAE Artificial Intelligence Strategy, one of the pioneering projects of the UAE Centennial 2071.

An Encrypted Database

Dr. Lubna Al Shaali, who is the Director of the Public Health Policy Department at MoHAP, considers that the new data storage blockchain platform will help secure an unchangeable, decentralized and encrypted database with high-security protection, something that will allow the Ministry to verify data validity and reliability.

The Director of Public Health Policy Department at the UAE Ministry of Health talked about how these technologies will improve the health sector in the country that is opening more and more its doors to blockchain and other new technologies.

“The AI-based projects will play a key role in enhancing the capabilities of health care services and providing smart medical solutions, following the UAE Centennial 2071, and the Artificial Intelligence (AI) strategy”, Dr. Amin Hussein Al Amiri said.

UAE Continues Incorporating Blockchain

Other areas of the United Arab Emirates public administration are taking advantage of blockchain technology. Almost 60 private and public entities of the government in the UAE have started using blockchain technology, as it was informed at the end of 2019.

For instance, last October, the Department of Economic Development in Dubai (the United Arab Emirates) announced it would begin using a blockchain-based unified business registry platform (UBRP) to facilitate and improve the form of doing business in Dubai by enabling license issuers to manage trade licenses and corporate registries.

Now, the MoHAP App will provide a high level of transparency and confidence in the UAE’s healthcare services sector so that users could enjoy an efficient and safe system.

By María Rodríguez

Fake Social Media Accounts May Have Been Used by OneCoin to Improve Its Image

Willmen Blanco
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Fake Social Media Accounts May Have Been Used by OneCoin to Improve Its Image

Fake Social Media Accounts May Have Been Used by OneCoin to Improve Its Image

DFRLab found that 90% of the comments on OneCoin posted on TrustPilot were positive. The profiles on OneCoin on social networks show inauthentic behaviors.

A new DFRLab report indicates that the cryptocurrency project OneCoin, accused of being a Ponzi scheme, might have tried to improve its image and increase its fortune through “non-authentic” accounts, where favorable ratings are posted on both TrustPilot, a consumer review website, and the questions-and-answers social network Quora.

The Forensic Digital Research Laboratory (DFRLab), coordinated by experts from the Atlantic Council of the United States, reported on January 29th that OneCoin might have used a campaign of astroturfing. It is a digital marketing strategy in which public opinions are masked to look spontaneous and positive.

The campaign came to light almost at the same time that its founder, Ruja Ignatova, disappeared. It was followed by the filing of several legal cases against her and other project members in 2019.

Last March, the US Attorney’s Office in New York arrested the alleged main leader of OneCoin, claiming that the project robbed billions of investors through a pyramid scheme. At the same time, Konstantin Ignatov, the founder’s brother, was arrested for electronic fraud, securities fraud, and money laundering.

In November, the lawyer behind the scheme, Mark Scott, was also found guilty of laundering USD 400 million for OneCoin. In parallel, some nations announced that they were taking measures to protect investors against the project, which employed tactics of a pyramid sales scheme.

Positive Ratings amid Scandal

DFRLab researchers found that, while all this was happening last October, OneCoin received a series of five-star ratings on the user rating website TrustPilot. The experts note that, of the 579 comments about OneCoin posted on the site, 90% were positive.

About 400 of the five-star ratings were posted in a period of a single month, according to the report. In that sense, they highlight that a certain number of one-star ratings were “buried” by a flood of positive ratings.

Although the DFRLab team was unable to determine whether the ratings came from automated or “non-authentic” accounts due to the TrustPilot user interface limits, the steep peak in five-star ratings indicated an abnormal flow of positive ratings right after the legal problems of OneCoin came to light.

On the other hand, the analysis of the ratings on the questions-and-answers website Quora also found profiles posting positive comments about OneCoin showing signs of inauthentic behavior. The signs include the absence of profile photos and biographies, erratic posting times and exclusive interest in discussions related to OneCoin.

According to the report, a large number of profiles pretended to be cryptocurrency experts but limited their answers to the viability or value of OneCoin. DFRLab said that it was not able to confirm the individuals’ identities since searches on social networks did not show similar or matching results.

Despite the lack of direct evidence linking the ratings and non-authentic profiles with OneCoin employees or evidencing automated activities on its platform, the profiles and ratings served to increase confidence in the OneCoin brand, at the same time that it faced a multimillion-dollar scandal.

By Willmen Blanco

Joint Efforts of Cryptocurrency Companies to Contain the Coronavirus

Alexander Salazar
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Joint Efforts of Cryptocurrency Companies to Contain the Coronavirus

The exchanges Binance and Huobi will send medical kits to China. Krypital Group announced the creation of a fund that only accepts Tether (USDT).

Whilst the whole world is still on alert for the coronavirus epidemic, several cryptocurrency companies are showing their support for Wuhan, the capital of the Hubei province in China, where the infectious outbreak has killed dozens of people and affected thousands of others. Among those offering their support are Huobi, Binance and the blockchain company Krypital.

Binance, one of the world’s leading exchanges, pledged to donate 10 million Chinese yuan (CNY), equivalent to about USD 1.44 million, to add to the efforts to fight the virus before it becomes a pandemic.

Changpeng Zhao, the CEO of Binance, posted a tweet on January 25th, holding the promise. Curiously, the message responded to the concern of a user, who wondered why the company did not join the donations made in cryptocurrencies. To the users’ doubt, he explained that, for the victims of the coronavirus in Wuhan, the donation in cryptocurrencies is useless.

Besides, in a tweet posted on January 26th, Zhao announced that the Binance team would work with Chinese e-commerce and logistics companies to distribute approximately 70,000 medical masks in the Chinese province, as part of their efforts to help the victims. He added that the Chinese government would coordinate the process to ensure that the masks reach those that require them.

In less than two months, the coronavirus has spread quickly, not only in the interior of China but also to other countries such as Japan, Thailand, and the United States of America. For this reason, the company Krypital, which specializes in comprehensive blockchain-based marketing services, also announced on January 25th the creation of a charity donation program for the delivery of medical supplies to the victims of the deadly virus.

The company also announced the creation of a donation fund based on a public blockchain, since it would allow greater efficiency and transparency. According to its posts, so far, the company only accepts donations in the stablecoin Tether (USDT), using the Ethereum network.

The Singapore-based cryptocurrency exchange Huobi also joined the support chain, announcing on its official Twitter account the creation of a fund of about USD 1.5 million to buy medical equipment. It also said that, in the next few days, it will send about 20,000 medical masks and protective medical kits to the Hubei province to be distributed in areas where efforts to contain the virus are concentrated.

Cryptocurrencies vs. Coronavirus

As the coronavirus continues spreading quickly, affecting various parts of China and other Asian countries, there is also fear that the virus may affect the cryptocurrency industry.

Given its status as a cryptocurrency investment center, China has the largest number of exchanges in the Asia-Pacific region, which has 40% of the top 50 exchanges worldwide, with the possible disruption of business due to the coronavirus.

Some people think that marketing events are crucial for the cryptocurrency investment companies growing in China that seek to raise money and invest in digital assets. However, their activities are prone to become slower due to the virus. Meanwhile, various mass media have linked recent movements in Bitcoin’s price to the expectation caused by the coronavirus.

By Alexander Salazar

Real Estate Purchase and Sale with Bitcoin Are Promoted in Argentina

Willmen Blanco
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Real Estate Purchase and Sale with Bitcoin Are Promoted in Argentina

A company in Mar del Plata announced that it accepts cryptocurrencies in its negotiations. An article of the Civil and Commercial Code could be used as a legal basis for the transactions.

After a real estate development company started to promote its buildings in exchange for Bitcoin (BTC) and other cryptocurrencies, the business of real estate in Argentina could transform the way that negotiations of properties are conducted. The method of payment began to be promoted last month, but the first sale using the cryptocurrency has not yet been closed.

This announcement was made by Javier Beolchi, from the company Beogroup in Mar del Plata, who stressed that the option to pay with Bitcoin is still in the promotion and publicity phase, so he hopes that in a matter of time the first negotiation with cryptocurrencies will take place.

Beolchi stated that he trades the cryptocurrencies that he accepts for local currency at any exchange, which allows his business to have the money to buy the materials and pay the payroll. He explained that they offer to pay with cryptocurrencies for the constructions that they advance themselves.

Legality of Operations

Concerning whether there is any legal or regulatory obstacle for the establishment of contracts for the sale of real estate in Bitcoin, Beolchi said that article 1614 of the Civil and Commercial Code of the Nation is the most related to these operations. He explained that it allows assigning the ownership of a good or asset, such as in the case cryptocurrencies, in exchange for the property.

The article that Beolchi mentions is included in the section on the Transfer of Rights, which states:

There is an assignment contract when one of the parties transfers a right to the other. The rules about purchase and sale, exchange or donation are applied to the transfer of rights, according to what has been done with the consideration of a price in money, of the transfer of the ownership of a good, or without consideration, respectively, as long as they are not modified by those in this Chapter.

Although the article could theoretically be applied to cryptocurrencies, it is not clear how the assignment of their own would be conducted; this, if the issue would be related to the user’s private keys or a transfer from wallet to wallet. This is an issue that would need more clarity in the case that these types of operations begin to be accepted in the country.

Regarding possible discounts for those that pay with cryptocurrencies, Beolchi said that the price per square meter does not vary when the payments are made with cryptocurrencies. However, it should be mentioned that discounts on cryptocurrency sales could be considered as bank transaction costs would be eliminated.

The offer of real estate for cryptocurrencies in Argentina is indirectly related to an event that occurred in December 2018, when an agreement for the sale of a property in the town of San Luis was registered in the Bitcoin blockchain.

By Willmen Blanco

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