ChainLink acquires Cornell’s Town Crier, VeChain partners with Chinese energy companies while Coinbase IPO is not happening anytime soon
We wound the day off with a couple of interesting updates, as always. Several coin-related news caught our attention and made us share them with you, our dear reader. Check out what we have in store for you below:
- Canadians get another way to spend their Bitcoin
Issues with Bitcoin liquidity are well known to anyone who has ever held it. With banks and governments clamping down on crypto and vendors being afraid to go against their superiors, spending Bitcoin is a bit harder than it should be.
That being said, Canadian residents just got an important update which will significantly improve the liquidity of their Bitcoin holdings.
Localcoin.ca released their very own Bitcoin Visa Debit Card which enables those who own it to load Bitcoin directly onto the card and spend it like with any regular debit card, at any vendor that accepts Visa.
“Online registration is simple as there is no tedious KYC process. Photo ID and utility bills are not required. Users can expect physical cards to be issued within 24 hours, not including shipping time. For those less inclined to wait, a virtual card is also available,” explains the official announcement.
- VeChain partners with Chinese energy companies to deliver a blockchain-based liquefied natural gas solution
VeChain was in the news again for the right reasons.
This time the project signed a partnership with two of China’s leading energy and gas companies ENN Energy Holdings Limited and Shanghai Gas (Group) Co., Ltd.
The partnership will be centered on delivering a liquefied natural gas (LNG) solution which will be supported by the VeChain blockchain.
The solution will make sure that the quality of collected LNG is up to par, as well as track its weighting practices and transportation process. All this data will be stored onto the VeChain blockchain which will enable further auditing of the LNG market.
This solution will see ENN Energy Holdings Limited responsible for the design and system construction of LNG-related business scenarios and providing the necessary vehicles/equipment.
VeChain will provide the blockchain base/software support.
Shanghai Gas will oversee the solution implementation, making sure it expands across the national LNG market with the help of a whole host of similar companies that will support it. Policy guidance ensuring government mandates, related process management, resource coordination and support for the development of LNG-related businesses will all be managed by Shanghai Gas.
Zhoushan LNG Storage and Distribution Centre will be the first to implement this solution during the pilot phase prior to a broader rollout. The Centre includes 3 docks, 2 all-inclusive LNG storage tanks, 14 tank truck loading rafts, high-pressure IFV gasification facilities, high-pressure external transmission, cold energy power generation and other supporting technologies and auxiliary facilities; it also has the annual processing capacity of LNG of 3 million tons.
- Coinbase IPO not happening any time soon, more currencies to come
Coinbase will not perform an initial public offering (IPO) “any time soon,” said the company’s President and COO Asiff Hirji during an interview with Bloomberg.
With the talk being fresh of Coinbase potentially going public in recent days, Hirji went out and quashed all the rumors by saying:
““There’s not going to be an IPO any time soon; we have so much to do.”
He further explained what he meant by “having so much to do”:
“We offer seven [cryptocurrencies], so you should expect us to go from seven to that total number we think is worth it [200 – 300] over the next year or so,” he said, adding:
“Some things will be offered in the U.S., but more things will probably be offered outside the U.S.”
The exchange recently completed a VC funding round worth $300 million, taking its entire value up to $8 billion.
- ChainLink acquires Cornell’s Town Crier
Sergey Nazarov of Chainlink announced during today’s Devcon that they will be acquiring Cornell’s Town Crier project.
ChainLink is a project focused on bringing the oracle technology to the blockchain world,
This technology enables the creation and operation of decentralized inputs/outputs for smart contracts on the blockchain, thus making the data that’s going into the contract more trusted then when using third party data providers.
The mentioned Town Crier project is a brainchild of Cornell University and IC3 and is designed to ensure data privacy and security for smart contracts. ChainLink will adopt Town Crier’s unique way of transaction processing and data encryption to further develop its own oracle system.
The combination of these two leading projects creates a clear technical leader for securely providing smart contracts with the key external inputs they need to function. Creating operational oracle technology is considered as one of the major advancements required to bring about Smart Contracts 2.0 which will be safer, smarter and more scalable than the ones we have today.
- Genesis Vision launches its investor module
Genesis Vision platform officially launched its second, main platform module which enables GVT holders to go and invest their funds according to their desires.
At the same time, fund managers are given a green light to start creating GV Funds. They are given two weeks to come up with the best portfolios they can think of, and investors will be able to invest in these from November 15th.
Genesis Vision mobile apps became available as well; Android can already be downloaded, with iOS app coming soon due to Apple’s delayed launch procedure.
The team reminded its investors that platform commission won’t be charged until the turn of the year and announced they’ve set a symbolic minimal fee of 1 GVT to deposit on the platform for those who want to invest.
