American Lawmakers are Eager to Exempt Cryptocurrencies from Securities Regulations

Andres Chavez
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American Lawmakers are Eager to Exempt Cryptocurrencies from Securities Regulations

The consolidation of cryptocurrencies as payment methods, security and utility tokens that perform a specific task in our current financial landscape, has represented a positive development, but also a regulatory challenge, since the legal framework was not entirely prepared for their rise to prominence.

Lawmakers in the United States of America are pushing for cryptocurrencies and other digital assets to be exempted from federal securities laws, according to recent reports from the North American country.

The “Token TaxonomyAct”

There are two members of the House of Representatives that are looking for promoting the “Token Taxonomy Act” in order to exclude these assets from being considered or being defined as “securities.”

For reference, securities refer to a proof ofownership or debt that has a definite value and can be sold. Those who hold securities have them as an investment with the potential to generate them a profit.

The mentioned act was introduced on Thursday by lawmakers Warren Davidson and Darren Soto, several months after a meeting in Washington, the country’s capital city, to discuss the regulatory framework of such assets. The proposed bill would mean an amendment of 1933’s Securities Act and 1934’ Securities Exchange Act.

The basis of the legislators’ theory is that there is no entity or individual controlling the cryptocurrencies’ operations, since they are mostly decentralized. Digital assets that fulfill those requirements (not being centralized) stand to be spared of being designated assecurities in the United States, depending on the outcome of the situation.

The Definition of Digital Assets, According to the Bill

According to the text, cryptocurrencies, defined as “digital tokens” in the bill, are “digital units created… in response to the verification or collection of proposed transactions or as an initial allocation of digital units that will otherwise be created.” To earn the qualification, the coins, or tokens, need to be run by “rules for the digital unit’s creation and supply that cannot be altered by a single person or group of persons under common control.”

To be more precise, the text explains digital tokens this way: “…has a transaction history that…is recorded in a distributed, digital ledger or digital data structure in which consensus is achieved through a mathematically verifiable process; and…after consensus is reached, cannot be materially altered by a single person or group of persons under common control;…is capable of being traded or transferred between persons without an intermediate custodian…”

The legal document also includes other crypto-friendly measures. It also focuses on the tax implications of cryptocurrency transactions like buying, selling, or exchanging.

The most thorough argument in favor of the lawmaker’s document is that a digital token “is not a representation of a financial interest in a company, including an ownership or debt interest or revenue share.”

In a separate statement, Davidson stated that the bill provides the certainty American markets need to compete with Singapore, Switzerland, and others who are aggressively growing their blockchain economies. There will be other regulatory initiatives at some point, but this legislation is an essential first step to keeping this market alive in the United States.”

By Andres Chavez

Greenchain, the Project to Guarantee Energy Quality in Portugal and Spain Using Blockchain

Maria Rodríguez
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Greenchain, the Project to Guarantee Energy Quality in Portugal and Spain Using Blockchain

The platform handles two different types of clean energy. The developer becomes the first utility to trace renewable energy

Acciona Energía’s customers can verify in realtime, and from anywhere in the world, that 100% of the electricity they consume is clean, thanks to the platform that will allow traceability (step by step monitoring) of their generation electrical renewable origin, through the use of blockchain technology.

Among the customers of the Spanish power company are companies such as Apple, Google, Bimbo, Kellogs, and Volkswagen. From the Ibex 35 company, representatives of Acciona Energía stress that they are the first entity to trace renewable energy with blockchain in Spain and Portugal.

“Tracing the renewable origin of energy is an increasingly widespread demand, associated with the growth of the corporate green energy contracting market, and blockchain technology can greatly facilitate customer’s service anywhere in the world. We are very pleased to have taken this first step on a path that will surely set a trend in the coming years”, says Belén Linares, Innovation Director at Acciona Energía.

Acciona Energía has extended the use of blockchain to its entire electric power business, after successfully testing the utility of the block of chains to accredit the 100% renewable origin of the energy injected into the electricity grid, from two storage facilities in Navarra.

The news about this functionality available to its users was disclosed shortly after the company announced the use of blockchain in the two renewable plants it has in Spain: Barásoain (with wind power) and Tudela (with photovoltaic), both in Navarra, under the Store chain project.

The company published a statement on December 17th informing that it will implement this technology for the entire record of the electric power it handles. And it will be done by FlexiDAO, a startup that focuses on software tools for digital energy services. This newphase of the project will be called Greenchain.

The first phases of the project were developed in collaboration with FlexiDAO, a company that specializes in offering electrical companies software tools for digital energy services.

FlexiDAO was one of the startups selected by Acciona within the second edition of its innovation program opened last June, in which 231 companies from 16 countries were analyzed. Among all these, Acciona Energía became the first entity to trace renewable energy by using blockchain technology in Spain and Portugal.

Since June of this year, the company has collaborated with Acciona Energía in the creation of a commercial demonstrator that ensures the traceability of the renewable generation of five wind and hydraulic installations located in Spain until its supply to four corporate clients in Portugal. To achieve this objective, Energy Web Blockchain is used, a blockchain platform specialized for the electricity sector.

The energy company’s next step is to continue its implementation in new areas, starting with those markets that are most suitable for this type of service. Mainly those who do not have has collaborated of the renewable energy accreditation are taken into account, as is demonstrator that of several Latin American countries where Acciona Energía has a strong presence, such as Mexico and Chile.

“We are demonstrating that the traceability of renewable energy is a case of viable use today, which generates real value for the consumer”, said FlexiDAO co-founder and CEO SimoneAccornero.

In fact, in Spain, in July of this year, the Government of Catalonia launched a project called IoCat, which includes using the Ethereum’s blockchain for the commercialization of photovoltaic energy among the members of each community, using a token protected by the Government of the autonomous community.

In a world in constant change and with increasing demands, blockchain technology is becoming the solution to various scenarios and problems.

By María Rodríguez

Mining Malware Increased More than 4,000 Percent in 2018, According to Mcafee Study

Andres Chavez
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Mining Malware Increased More than 4,000 Percent in 2018, According to Mcafee Study

The Internet combined with crpytocurrencies is good. It provides users with exchanges, mining pools, trading platforms, news, and analysis sites. However, when evil people use the World Wide Web to their advantage, bad things can happen.

People that use the web need to be wary about hackers and cybercriminals. They represent an ever-present threat, since theycan easily intercept sensible data by positioning themselves in the middle of usersand Wi-Fi networks.

The Definition of Crypto Mining Malware

One of the most recent forms of making a profit off innocent people’s devices and computers is unauthorized cryptocurrency mining. When they do not expect it, cybercriminals can install mining software in people’s devices without them even finding out about it. This activity can use a lot of processing power and will make the machine practically unusable because of slow performance.

The McAfee company, one of the most influential and widely known in the online security business, recently conducted a study showing that instances of crypto mining malware dramatically increased in 2018.

According to the study, those instances went up by more than 4,000 percent this year: the numbers show that there were four million new mining malware threats just in 2018’s Q3, while in both 2016 and2017, the number did not even surpass half a million.

It goes to show that cybercriminals and hackers are migrating from traditional scams, phishing, and ransomware (when they ‘hijack’ a person’s device or system by encrypting information and asking for a reward, or ransom, to decrypt it and let the owner regain access) to engage into installing crypto mining malware.

The precise number shows that total malware threats grew 4,467 percent in the last four quarters. “Many ransomware actors are switching to a more lucrative business model: cryptomining,” according to thereport.

In fact, Bitcoin mining can be a really lucrative business, and if the person does not have to invest in equipment and power to perform it, the activity gains a special appeal for these shady people. Not only are they messing with computers, but also they are installing the software on IoT devices. Numbers do not lie: malware that targets IoT devices experienced a 203 percent increase in the last four quarters.

Why IoT Devices?

“We would not usually think of using routers or IoT devices such as IP cameras or video recorders as cryptominers because their CPUs are not as powerful as those in desktop and laptop computers. However, due to the lack of proper security controls, cybercriminals can benefit from volume over CPU speed. If they can control thousands of devices that mine for a long time, they can still make money,” explained Remco Verhoef, who acts as the Security Researcher at McAfee.

More than one million devices in China were compromised with crypto mining malware back in July. Cybercriminals “mined” over $2 million worth of cryptocurrencies in a two-year span. The United Kingdom has been one of the most affected countries, as well, with more than half of businesses having been hit with this threat in August.

By Andres Chavez

The Opera Browser Incorporates Ethereum Wallet in Its Mobile Version

Andres Chavez
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The Opera Browser Incorporates Ethereum Wallet in Its Mobile Version

Global adoption of cryptocurrencies is one of the few obstacles left for them to achieve long-term price stability and staying power. These assets are valuable and, most of the time, they have utility. “If only a web browser could help them take the next step,” one might think. After all, people use the Internet all day long, every day, with increasing frequency in mobile devices.

Opera announced this week that the company will release an innovative “blockchain-ready” web browser that will also contain a built-in Ethereum wallet on Android, further promoting an up-and-coming technology and encouraging its adoption by regular Opera users.

Via a press release published on Wednesday December 19th, Opera made thepotentially game-changing announcement. The update comes with Web 3 support andis already available on Android’s Google Play Store for users to download.People using that operating system will be able to speed up the transition fromspeculative crypto investments to regular operations by experiencing the bestof Web 3.

Meet the Web 3

Using crypto services online and access Web 3 services can sometimes be a hassle, but thanks to the launch of the updated Android app, Opera thinks that people will now have a platform to eliminate further complications.

According to the company, it chose the Ethereumblockchain because of the wide array of available dApps developers, which will foster interactions within the platform between users. For now, Opera supports the Ethereum Web 3 API: the wallet supports Ether and ERC-20 tokens. However, the plan is to have more cryptocurrencies and networks in the not so distantfuture.

Joseph Lubin, Ethereum co-founder and ConsenSys leader, expressed his joy about the recent announcement.  “It’s a significant step for one of the world’s leading browsers to add an Ethereum-based crypto wallet and Dapp explorer, and speaks to Opera’s innovative roots and commitment to embracing next generation technology. We see this as an important moment in improving Dapp accessibility, opening Web3 to mainstream audiences, and encouraging developers to build on Ethereum.”

For reference, the term Web 3 refers to a host of emerging technologies regarding cryptocurrencies, blockchains and distributed systems. The combination of the three provides versatility to the web and offers endless possibilities and solutions. The Opera company firmly believes that Web 3 will be the interface to the decentralized web of tomorrow.

Thanks to the built-in crypto wallet, Opera users will be able to access information, manage their transactions and digital identities with enhanced security and more control over decisions. A few months ago, the web browser made public the integration of Ethereum wallets on its desktop version. People can access the brand new Opera Android browser on their Play Store.

A little bit more about Opera

Opera is one of the world’s most famous web browsers. It is compatible with Windows, macOS, and Linux operating systems, and is developed by Norwegian company Opera Software AS. It implements the Blink layout engine.

The origins of Opera are tied to 1994, but 2005 was the year in which it became freeware. With it, people can engage into private browsing, download manager, use browser extensions, mouse gestures, and tabbed browsing.

By Andres Chavez

A German Team Intends To Save Trees in Paraguay through a Blockchain Project

Andres Chavez
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A German Team Intends To Save Trees in Paraguay through a Blockchain Project

Deforestation is one of the world’s most critical problems, as forests are our planet’slungs: they provide us, quite literally, with a “breath of fresh air.” The rateat which human beings are tearing them down is alarming. Actions are needed tostop and remedy the situation.

Fortunately, the blockchain technology, among all of the benefits it can provide, saves a soft spot for environmental projects. The most recent piece of news involves a group of German entrepreneurs that are trying to make their contribution in saving the planet, one step at a time.

To be more specific, the German developers are aiming to create a blockchain-based project with the intention of saving trees in Paraguay, one of the most affected countries in the planet by deforestation.

Meet TreeCoin

TreeCoin is the name of the initiative, and the macro objective is to stop deforestation. The first step to take is to engage people to take part in a reforestation project in the South American country, raising enough funds to plantfast-growing eucalyptus trees.

Paraguay is known as a nation with a relatively big territory (406,752 km2, ranked 59th in the planet) and few inhabitants (7,052,984 people, ranked 104th.) It is landlocked, and it is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest.

The nation is located at the center of the sub-continent, which is why it is often referred as “The Heart of South America.” Having vast lands available to reforestate, there is no better country to start the project than Paraguay. In fact, the trees will be planted in areas that are 20 percent bigger than Paris, France’s capital.

The Modus Operandi

According to the terms of the project, the land itself, through eucalyptus timber, will make a profit every four years. Additionally, in that timeframe, more square kilometers of trees and forests will be saved from being torn down in other locations. Some of the generated funds will be reinvested to acquire lands and plant more trees.

Project developers plan to recover approximately 597 square kilometers of forest area in the next 22 years. The best part of it all is that the project is 100 percent sustainable over time. The TreeCoin initiative, led by German entrepreneur Jörg Schäfer (also known as Mr. Green) was recently presented at the BlockShow Asia.

The TREE will be the associated token to the project. It is of the security variety and will be issued by the company. Those that acquire tokens get to decide the amount of trees they desire to plant. The TREE token equals one planted tree at the startof the project, and it will be valued at $23.

As part of a hybrid token model, one TREE security token will trigger the emission of 100 TreeCoins, which will serve as the complementary coin. Of those 100, 70 will go to the TREE token holder and 30 to the project team to cover expenses.

By Andres Chavez

Coinbase Will Facilitate the Exchange of Cryptocurrencies Among Retailers

Maria Rodríguez
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Coinbase Will Facilitate the Exchange of Cryptocurrencies Among Retailers

The initiative of the exchange company located in California will allow changing from one cryptocurrency to another and reducing the final cost of the exchanges, by making the process shorter

Coinbase, the main US digital currency exchange, announced the launch of a crypto to crypto converter, which, through its platform, will allow users to make exchanges between cryptocurrency without having to perform two transactions separately. The name of this new functionality is Coinbase Convert.

The purpose will benefit retail customers, adding that this feature was already available for the professional cryptocurrency business. Initially, the platform will support trading pairs between Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum Classic(ETC), Ethereum (ETH), Litecoin (LTC) and 0x (ZRX) cryptocurrencies. Therepresentatives of the company estimate that, in the near future, morecryptocurrencies can be added, as a client’s request.

“Starting today, you can convert one crypto to another on Coinbase. Conversions are available between Bitcoin (BTC) and Ethereum (ETH), Ethereum Classic (ETC), Litecoin(LTC), 0x (ZRX), or Bitcoin Cash (BCH). It is day 8th of 12thdays of Coinbase”, the company said on its official Twitter account on December17th.

Last Monday, Coinbase reported on its blog Medium that the conversions are made instantly and represent a lower cost than if two transactions were made separately. It directly transforms Bitcoin into Ethereum instead of selling Bitcoin and then buying Ethereum, for example.

As highlighted in the list of exchange prices, in the digital currency conversions section, the cost of this conversion would have a 1% commission rate, which may be higher or lower depending on market fluctuations.

“We set out to build an easy to use, highly secure and reliable experience for anyone to buy or sell Bitcoin. By focusing on ease of use and designing for simplicity, we have tried to make encryption more accessible for everyone. This last feature, which allows customers to convert from one crypto directly to another, is a natural progression of this trip”, the company added in its statement.

Coinbase plans to bring the possibility of converting Bitcoins and altcoins for customers residing in the 34 countries in which Coinbase offers native payment access. Currently, the new feature is available in Coinbase.com, on iOS and Android applications.

This month, Coinbasepresented other of its developments by launching PayPal withdrawals for USstock exchange clients. Users can now withdraw balances from Coinbase to PayPal instantly at no charge. The new service allows customers to instantly convert their cryptocurrencies into fiat currencies and these withdrawal options that are available on the platform make it faster to withdraw Coinbase cryptocurrencies.

Coinbase seeks to be fit to its users and to catch new ones. It is a secure platform that makes it easy to buy, sell, and store cryptocurrencies such as Bitcoin and Ethereum.

Earlier this month, the exchange company announced the inclusion of four ERC 20 tokens on its Coinbase Pro professional trading platform, which are Civic (CVC), district0x(DNT), Loom Network (LOOM) and Decentral and (MANA).

By María Rodríguez

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