Blockchain
Fintech investments in Europe up to 23bn EUR, JP Fabri (ARQ Economic & Business Intelligence) will add to the subject at TCE2019
Fintech in a nutshell: the financial technology sector which encompasses firms that use technology-based systems either to provide financial services and products directly or to make the financial system more efficient.
It has been reported over the past years that Fintech is a rapidly growing sector. The recent reports show that in the first half of 2018, investment in fintech companies in Europe alone reached €23 billion.
Besides the huge investment return, the fintech sector brings rewards including innovation and job creation, but also challenges, such as data and consumer protection issues, and the risk of exacerbating financial volatility or cybercrime.
To tackle these multi-disciplinary challenges, policy- and lawmakers in the European Union (EU) have adopted and announced several initiatives, for instance on intra-EU payment services, data protection, crowdfunding, and regulatory sandboxes.
In 2019 the European Commission launched a study to analyze the challenges for the European players and possible policy measures at EU level. This analysis leads to the development of short-term recommendations around effective implementation of the EU Fintech Action Plan, coherence with the Digital Single Market, taking the international dimension into account, and investing in knowledge, access to new markets and communication. Longer-term recommendations are to replicate the innovative approach characterized by the second payments service directive in future legislation and to set up a Multi-Stakeholder Forum to stay abreast of trends and risks.
The European market accounts for 17% of the global fintech industry and the leaders are the US with 48%, while China is also holding strong with 35%. (source: bankingtech.com)
PICANTE Tech Conference Europe will address the Fintech sector with a highly engaging panel discussion which is titled “The Rise of Fintech in Europe”.
The panel discussion will be joined by Jean Paul Fabri, Managing Director of ARQ Economic & Business Intelligence, who will bring the latest economic and policy updates.
About Jean Paul Fabri
JP is the Managing Director of ARQ Economic & Business Intelligence, a specialized unit that applies economics to consumers, firms, and policy. He is currently the Lead Director on blockchain and cryptocurrency at ARQ Group. JP is specialized in resilience-building strategies and was a Technical Consultant to The Commonwealth Secretariat and acted as advisor to 9 governments across 3 continents. Prior to joining ARQ Group, JP was the Group Board Secretary of a London and Helsinki listed mining company. He also formed part of the private secretariat of the former Prime Minister and of the Governor of the Central Bank of Malta. An economist by profession, JP followed post-graduate studies in economics and political economy at the University of Malta and the London School of Economics. He is also a visiting lecturer at the University of Malta.
PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.
REGISTER HERE or BROWSE THE AGENDA/PROGRAM!
Seats are limited (Super Early Bird Rate – valid through 30th of June)
Blockchain
Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
In a recent communication directed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has strongly advocated for the incorporation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures specifically tailored for stablecoins. Senator Warren’s correspondence underscores the critical importance of adopting the full array of AML tools outlined by the Treasury Department in a prior November 2023 communication to Congress.
Senator Warren has underscored the burgeoning threat posed by cryptocurrencies, particularly stablecoins, to national security. She has specifically drawn attention to instances where entities like Iran and Hamas have turned to cryptocurrencies as a means to raise funds and support terrorist activities. To effectively address this evolving threat landscape, Senator Warren asserts that any forthcoming crypto legislation must encompass comprehensive AML/CFT authorities as requested by the Treasury Department.
Moreover, Senator Warren has made reference to the testimony provided by Deputy Secretary Adewale O. ‘Wally’ Adeyemo before the Senate Committee on Banking, Housing, and Urban Affairs. In this testimony, Adeyemo emphasized the critical need for additional AML authorities to combat the growing menace posed by cryptocurrencies. Senator Warren has pointed out that the exclusion of crucial actors within the digital asset ecosystem, such as miners and validators, from AML/CFT requirements could potentially enable nefarious actors to exploit the increased crypto trading facilitated by stablecoin legislation.
Senator Warren’s steadfast stance on the regulation and oversight of cryptocurrencies is aligned with her prior efforts aimed at curbing illicit activities and safeguarding consumers, the financial system, and national security interests. She has persistently advocated for the closure of loopholes in AML regulations that allow sanctioned entities like Iran to derive revenue through crypto transactions. Furthermore, Senator Warren has consistently voiced concerns regarding the exploitation of cryptocurrencies in terrorist financing schemes and has called for the implementation of stronger regulatory frameworks to protect both consumers and national security interests within the realm of stablecoin-related legislation.
Source: blockchain.news
The post Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins appeared first on HIPTHER Alerts.
Blockchain
Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests
Binance has rolled out Binance Megadrop, a novel token launch platform that blends airdrops with Web3 quests. This platform enables users to engage in BNB Locked Products subscriptions and complete tasks within their Web3 Wallet to earn early rewards from chosen Web3 projects, even before their tokens hit the Binance Exchange.
The inaugural project featured on Binance Megadrop is BounceBit (BB), a BTC restaking chain. Here are the token specifics for BounceBit: Max Token Supply: 2,100,000,000 BB, Megadrop Token Rewards: 168,000,000 BB (8% of max token supply), Initial Circulating Supply: 409,500,000 BB (19.5% of max token supply).
To kickstart their journey with Binance Megadrop, users must log into their Binance account and ensure they possess an active Binance Web3 Wallet. From there, they can subscribe to BNB Locked Products and/or fulfill Web3 Quests to accumulate scores. These scores dictate the rewards received through the Megadrop program.
The scoring mechanism for Megadrop relies on the Locked BNB Score, determined by the quantity of BNB subscribed and the subscription period’s duration. Users also earn a Web3 Quest Bonus and a Web3 Quest Multiplier upon completion of designated Web3 Quests. The total score is computed by applying the Web3 Quest Multiplier to the Locked BNB Score and adding the Web3 Quest Bonus.
Importantly, only wallets created within the Binance Web3 Wallet and not external wallets will count towards Megadrop participation. Megadrop rewards will be airdropped to users’ Binance Spot Wallets.
Users must undergo identity verification and maintain at least one active Binance Web3 Wallet to qualify for Megadrop rewards. Additionally, certain jurisdiction-based eligibility criteria apply. Users from Australia, Canada, Cuba, Crimea Region, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Singapore, Syria, United Kingdom, United States of America, and its territories are presently ineligible to participate in BB Megadrop.
Binance Megadrop is aimed at offering users an interactive and rewarding experience within the crypto realm. Further details regarding the Megadrop amount, Web3 Quests, and the comprehensive listing plan will be disclosed separately.
Source: blockchain.news
The post Binance Launches Megadrop: A Token Launch Platform with Airdrops and Web3 Quests appeared first on HIPTHER Alerts.
Blockchain
Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT)
Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (“QeM” or the “Company”) is pleased to announce the submission of a PCT patent application for an innovative approach to operating Blockchain Wallet, harnessing the unmatched security provided by the QeM Quantum Random Number Generator (QRNG2).
Hardware wallets stand as robust physical fortresses, safeguarding the private keys essential for accessing and managing cryptocurrencies such as Bitcoin or Ethereum. By storing private keys offline, these devices fortify themselves against cyber threats and hacking attempts, presenting a notable advantage over internet-connected software wallets.
Cryptocurrency wallets, including blockchain wallets, heavily rely on large series of numbers known as keys. Various schemes exist for generating these keys, such as ND and HD, each with its own advantages and drawbacks. However, when providing a blockchain wallet to an unfamiliar user, adapting the key generation scheme to the user’s specific usage type becomes challenging, often resulting in mismatches between the key generation schemes and the users. Quantum eMotion’s technology addresses these challenges by offering a wallet that intelligently selects the key generation scheme based on a comparison of cost values of different key generation schemes. Furthermore, by leveraging Quantum eMotion’s QRNG technologies, a blockchain wallet that combines the benefits of true random number generation with intelligent key generation scheme selection can now be made accessible to consumers, offering an unprecedented level of functionality.
Quantum eMotion’s technology, developed in collaboration with Dr. Kaiwen Zhang at ETS (École de technologie supérieure, Montreal, Canada), is now patent pending globally. Specifically, the patent application has been submitted under the Patent Cooperation Treaty, with March 30, 2023, as the priority date. The Patent Cooperation Treaty serves as an international agreement enabling the reservation of international patent protection in over 150 member states for 30 months from the priority date. Consequently, Quantum eMotion’s international patent application for this technology will remain pending until September 30, 2025, following which the application process will continue nationally in selected countries and regions.
Francis Bellido, CEO of Quantum eMotion, commented, “The recent resurgence of interest in cryptocurrencies motivates us to deploy our patented technology, grounded in quantum electron tunneling, across blockchain applications. However, as cryptocurrencies regain popularity, ensuring their security remains of utmost importance.”
Source: finance.yahoo.com
The post Quantum eMotion Files a Patent for Quantum-based Blockchain Wallet Under the Patent Cooperation Treaty (PCT) appeared first on HIPTHER Alerts.
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