Gates Foundation Launches Blockchain-based Mobile Payments Solution

By Joshua Althauser    October 20, 2017

The Bill and Melinda Gates Foundation has launched the Mojaloop open-source payments software to provide an interoperability layer between financial institutions, payment providers, and other companies offering payment services to the poor and unbanked people around the world.

The mobile payments system employs the Interledger technology that was developed by distributed ledger technology (DLT) startup Ripple.

According to the foundation’s deputy director of financial services for the poor, Kosta Peric, the new software is aimed at resolving the issues with respect to the interoperability of digital payments. He also issued an invitation to players in the banking and payments industries to test the system.

“Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool.”

Source: Gates Foundation Launches Blockchain-based Mobile Payments Solution


Why Acquisitions Will Never Work In Crypto – Forbes Digital Money #MarketMoves

By Kyle Samani, Contributor    October 16, 2017

Many have asked “how would a merger or acquisition work in crypto?”

Although a merger could work in theory, in practice it’s not possible. The economics, individual sovereignty, and lack of drag along rights on both sides will prevent any sort of meaningful and cleanly executable acquisition.

Drag along rights are paramount to understanding this post. Per Investopedia, a drag along right is defined as a “right that enables a majority shareholder to force a minority shareholder to join in the sale of a company. The majority owner doing the dragging must give the minority shareholder the same price, terms and conditions as any other seller.”

Traditional Acquisitions

When one company buys all of the equity of another firm, it acquires a few things:

  • Employees – the people who have the know how to build and deliver the product/service to customers.
  • Customers – a proven customer base that values and pays for a product/service.
  • Processes – a series of proven processes of people, property, and technology that create value for customers.
  • Balance sheet – the actual hard assets of the firm: cash, debt, equipment, liabilities, etc.
  • Intellectual property – patents, trademarks, copyright, etc.

Crypto Acquisitions

Let’s say that a company or a crypto foundation wanted to buy all of the tokens of some cryptoasset. What exactly would be purchased?

  • Employees – N/A: protocol developers and business people do not work for token holders.
  • Customers – N/A
  • Processes –N/A
  • Balance sheet – N/A
  • Intellectual property – N/A: all of code that powers that the token – the blockchain and/or smart contract – is open source. In this regard, there’s nothing to purchase. It’s possible that the dev team would turn over closed-source portions of what they’ve built that live outside of the blockchain or smart contract itself; however, this software is not “owned” by the token holders.

So there’s nothing to acquire?

More at: Why Acquisitions Will Never Work In Crypto – Forbes Digital Money #MarketMoves

IBM Blockchain Payments To Use Stellar In Major Partnership Deal – The Cointelegraph

By WIlliam Suberg    October 16, 2017

IBM and payments network KlickEx have announced Stellar as the backbone of its new “cross-border payments solution.”

In what it describes as the first use of public Blockchain technology “being used in production to facilitate cross-border payments in multiple integrated currency corridors,” IBM is already convening a group of big banking partners to further the initiative.

“Currently, cross-border payments take up to several days to clear,” Stellar co-founder Jed McCaleb said in an accompanying blog post.

“This new implementation is poised to affect a profound change in the South Pacific region, and once fully scaled by IBM and its banking partners, could potentially change the way money is moved around the world.”

More at: IBM Blockchain Payments To Use Stellar In Major Partnership Deal – The Cointelegraph

Lufthansa Is Using Blockchain To Improve Flight Booking – PSFK

By Zack Palm    October 13, 2017

The airline has partnered with Winding Tree to make it easier for travelers to book their flight and hotel in one place without having to go through third parties

German airline Lufthansa partners with Swiss startup company Winding Tree who created a blockchain platform. Lufthansa wants to explore using this technology to make traveling easier.

More at: Lufthansa Is Using Blockchain To Improve Flight Booking – PSFK

Telecom Company Adopts Blockchain Solution to Revolutionize African Nation’s Economy – CryptoCoinsNews

by Tom Clancy    October 13, 2017

Technological advancement has elevated the internet as one of the most important elements in human existence as far as the 21st century is concerned.

Almost every aspect of national development is dependent on one area of the internet or the other. This includes aspects such as education, politics, internal and external security, innovation and several other areas.

High-speed internet is crucial for development of West Africa

In recent times, there has been a substantive correlation between the industrial and economic growth of nations and their respective advancements within the cyber space.

Over the last decade, the number of people connected to the Internet worldwide has grown rapidly, rising from 910 million in 2004 to nearly 3.8 billion in 2017. Even though this exponential increase is predominant in the developed nations, the advent of smartphones has encouraged internet use in developing countries as well.

Guinea Bissau is known as one of the countries that is ripe for technological innovation. This is reflected by the welcoming approach exhibited by the government of the day who have created a more investment friendly environment, setting the pace for unlimited opportunities especially in the areas of technology.

With the encroachment of telecommunication companies like MTN and Orange, there is warm reception of modern technology which Internet service providing company, Cajutel is poised to explore.

More at: Telecom Company Adopts Blockchain Solution to Revolutionize African Nation’s Economy – CryptoCoinsNews

Cloud Gaming Is Launching In Southeast Asia, Using Blockchain To Empower Gamers – Forbes Asia #StartupLife

By Chris Chong October 11, 2017
In this photograph taken on September 20, 2017, an eSports gamer plays League of Legends during training for the League of Legends World Championship at a boot camp in Shanghai.Once dismissed as the pursuit of teens and introverts, eSports is growing fast towards being a billion-dollar industry and has a huge fanbase, especially in Asia. / AFP PHOTO / CHANDAN KHANNA

Cloud gaming platforms, where gamers can play console-games using their laptops and PCs, will soon upgrade to adopt blockchain-powered decentralized systems, enabling peer-to-peer direct connection with member participation incentivized through a tokenization system.

Playkey has spent 4 years developing cloud gaming technology that allows gamers to play the latest video games on low-performance computers. That means that for a small fee you can play top-rated games anytime and anywhere, using any device- including your old, dusty laptop – as long as you have a fast internet connection.

Source: Cloud Gaming Is Launching In Southeast Asia, Using Blockchain To Empower Gamers – Forbes Asia #StartupLife

Even Crypto Exchanges Are Becoming Decentralized – Here’s What That Means – Forbes Asia #NewTech

By Chris Chong    October 11, 2017

This year has been a pivotal one for blockchain tech, with over $2 billion raised from ICOs around the world, according to data from crypto information provider CoinDesk. From a relatively modest $17 billion in January, the global cryptocurrency market cap has grown to $126 billion.

Wall Street traders are turning their attention to cryptocurrency exchanges, with The Wall Street Journal reporting last week that Goldman Sachs is considering the creation of a new trading operation for digital currencies.

Despite this growth, the blockchain economy is still considered nascent. As with any exchange, the value will ultimately come from consumers’ trust, use and the ability for the technology to avoid being bogged down by scaling and security concerns or regulatory hurdles.

While the blockchain itself is decentralized, the existing major exchanges used for the buying and selling of cryptocurrencies are not. That means that, just like banks, these exchanges are susceptible to security breaches, leaving investors worried about how cryptocurrencies are currently traded. AirSwap is a new peer-to-peer ethereum token exchange that aims to bridge the gap between what institutional investors expect in terms of financial market infrastructure and the Wild West nature of cryptocurrency trading.

AirSwap takes everything that makes the blockchain itself revolutionary – its high level of security, lack of a centralized authority and low barrier to entry — and applies it to the trading of cryptocurrencies.

Source: Even Crypto Exchanges Are Becoming Decentralized – Here’s What That Means – Forbes Asia #NewTech