Blockchain
Buying.com Develops BUY Token Cryptocurrency on Algorand Platform
Buying.com launches its BUY token built on the Algorand platform.
Mahwah, New Jersey–(Newsfile Corp. – March 9, 2021) – Buying.com, a leading player in hyperlocal e-Commerce fulfillment and distribution, is launching its BUY token on the Algorand platform. This exciting new token plans to exchange listed by Q2 of 2021.
Buying.com develops BUY token cryptocurrency on Algorand Platform
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Buying.com’s initial foray in hyperlocal distribution has been its fulfillment operations in the food service sector and aggregates the orders and deliveries from popular food-ordering apps such as Doordash, GrubHub, Uber Eats, and Postmates. This provides restaurants with a single easy entry point to manage all orders and deliveries. The BUY token’s maiden use case is in rewarding loyalty of restaurants participating in the program.
“We chose Algorand for the foundation of our token given the fact that it has low transaction costs, and has extremely high transaction speeds. Our rewards program is to recognize the loyalty of our participating restaurants, and the Algorand technology was a natural fit for creating our utility token,” stated Jean Gabriel, CEO of Buying.com.
The BUY token was developed by NetObjex, a leading player in the new era of the Machine Economy. “Algorand is emerging as a blockchain leader with over 500 companies who have already integrated Algorand into their stack. The Algorand ecosystem includes global exchanges, asset issuers (including stablecoins USDT and USDC), and supporting infrastructure including custodians, wallet providers, and identity providers. With its low transaction fees, it meets the needs of Buying.com,” said Raghu Bala, CEO of NetObjex.
About Buying.com
Buying.com provides an on-demand delivery system for restaurants to streamline their delivery processes. The all-in-one order management system handles both internal and external orders, allowing restaurants to easily schedule drivers and track orders while reducing delivery costs. The on-demand delivery system eliminates any costs associated with external delivery apps while expanding the business’ customer base.
About NetObjex
NetObjex, based in Irvine, California, provides enterprise software and business solutions for real-time tracking, tracing and monitoring of digital assets. The industrial grade NetObjex Matrix digital twin asset management platform unifies IoT, AI and blockchain technologies as a continuum for intelligent automation and data marketplaces. NetObjex clients and partners benefit from global coverage across key verticals like e-Commerce, energy, manufacturing, transport, healthcare, communications, retail and government.
Contact: Joe Rivello, Chief Operating Officer, Buying.com
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Buying.com develops BUY token cryptocurrency on Algorand Platform
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76657
Blockchain
Alpha Transform Holdings Releases March Report on ASC AI Index
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.
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