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May 2014

Telegram Releases Eagerly Awaited Update on Future of TON

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Telegram

Telegram

Messenger app Telegram has released a long-awaited update on the future of its TON blockchain and its native Gram tokens, clarifying certain aspects of the project as it remains embroiled in a lawsuit by the US Securities and Exchange Commission as to whether two ICOs conducted in 2018 should have been registered with the commission.

Telegram messenger is an immensely popular platform in the world of crypto, central to the discourse on the topic, and has been working on developing its own blockchain since 2017. Multiple rumors have been spreading regarding the project, and while Telegram has remained very tightlipped due to that pending SEC suit, the company issued a public notice on January 6 to address these rumors.

Grams are Not Available for Sale Yet

The first such misconception addressed by Telegram is that Grams, the native token to the TON blockchain, are not for sale and technically do not even exist yet, despite several websites claiming they are official Gram resellers. Telegram has noted that it is not affiliated with any of these vendors and states that the TON blockchain remains in beta testing. In August, it was reported that a secondary market for Gram tokens had sprung up and was seeing returns in excess of 400%, despite Telegram claiming that any resold tokens would be canceled.

TON Blockchain Will Be Decentralised

Telegram has said that it will likely never develop any applications or features for the TON blockchain itself. “Rather, it is Telegram’s goal and hope that the decentralized community of third-party developers and others will contribute to the TON ecosystem through the development of applications and smart contracts,” read Monday’s statement. The messenger service went on to add that TON will always be open source and publicly viewable, meaning it will have no control over the blockchain.

TON Wallet Will Not Be Integrated into Telegram App

Lastly, the Telegram team said that its TON Wallet Application will be released on a standalone basis and will not be integrated into the messenger app. The TON Wallet is intended to compete with other crypto wallet services, but the company did not rule out integration at some point in the future to the extent that the law and regulators would allow.

The SEC Suit

The update from Telegram appears as though it is intended to provide further clarity to several misconceptions that have arisen around the project in light of the SEC lawsuit. Between January and March 2018, the company raised in excess of $1.7 billion USD from 171 investors to fund the development of the blockchain; however, the SEC claims that this fundraising constituted an ICO on Gram tokens and should have been registered with the commission.

>> Ripple (XRP) Soars 18%: Binance Futures Launches XRP/USDT Contract

No solid launch date has been set for the release of TON after the injunction prevented the release of Grams until April at the latest. The SEC suit will continue with two further hearings scheduled for February 18 and 19.

Featured image: DepositPhotos © prykhodov

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Overstock’s Crypto Division Invests $2 Million USD in Evernym

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Overstock

Overstock

Troubled online retailer Overstock has invested $2 million USD in blockchain-based identity firm Evernym through its crypto division, Medici Ventures.

Blockchain-Based Identity Technology

Evernym was founded in Salt Lake City in 2013 and has developed a blockchain-based technology that allows organizations and governments to issue, accept, and verify credentials that operate similarly to a digital passport. Its digital credential platform, Verity, allows organizations to interact with customers while giving clients control over their data. The technology utilizes blockchain to develop a decentralized ecosystem of digital credentials that is more trustworthy than physical credentials. Overstock’s investment will be used to help Evernym scale its operations.

Evernym’s platform allows every person, organization, and connected thing to have an independent identity. Evernym fills out Medici Ventures’ identity pillar within our keiretsu and will help advance our government-as-a-service technology stack for civilization,” said recently appointed Overstock CEO Jonathan Johnson. The company made the investment via its crypto ventures arm Medici Ventures, which participated in Evernym’s Simple Agreement for Future Equity (SAFE). SAFE will allow Overstock to convert its investment into preferred stock.

>> Binance Begins Dedicated Staking Platform to Earn Rewards

Overstock in Turmoil

Overstock has been in turmoil in recent weeks after the departure of enigmatic CEO and founder Patrick Byrne following his admittance to a three-year relationship with Maria Butina, a convicted Russian spy currently serving 18 months in federal prison. Byrne has championed the company’s ventures into the world of crypto and had previously stated that he wanted Overstock to cease all its other operations and focus entirely on crypto.

Last week, Byrne sold his remaining 13% stake in Overstock, worth $90 million USD, and reinvested the proceeds into cryptocurrency. The news came in the same week that Byrne’s proposed plans for a crypto dividend for Overstock investors unraveled, forcing the company to delay its payment. Byrne had designed a system whereby investors would receive their dividend in the form of an obscure digital security, that could only be accessed via a Dinosaur Financial Group account after a six-month holding period. The aim of this was to prevent short selling against Overstock.

Featured Image: DepositPhotos © shirotie

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Is Bitcoin (BTC) a Recession Proof Like Gold? Here’s What Experts Think

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Bitcoin

Bitcoin

It is quite clear that the global economy is currently in the doldrums due to a wide range of factors, and investors all over the world are currently at crossroads with regards to finding the best ways to protect their capital. When such a thing happens, then investors look for assets that could either protect their capital or act as a hedge against an economic recession. Plenty of analysts have stated that a global recession could be looming and the trade war between the United States and China, the world’s two biggest economies, is not helping matter in this regard. So how does Bitcoin fit into all this?

Bitcoin as Hedging?

It is now being considered that Bitcoin could well be the hedge investors are looking for as the global economy slowly but surely heads towards a downturn. That being said, it is important to note that after the incredible rally that Bitcoin enjoyed during the first six months of the year, it has faced difficulties with maintaining the same momentum. The token struggled in July to maintain stability, and this has continued into August.

Even with the recent volatility, however, there are plenty of people who feel that this is only a phase for Bitcoin and the cryptocurrency will be able to regain its momentum in the near future.

>> Barclays Ends Partnership with Coinbase: Where Next for the Exchange?

Experts now believe that Bitcoin could be a digital safe haven for investors, much like how gold has proven to be this year so far. Due to the potential loss of capital, Bitcoin could work as a protection against the downturn, if it ever arrives. Last but not least, it is also important to add if such a thing happens, then a lot of money is going to flow into Bitcoin, and the price of the token is almost certain to rise in the months to come. Maybe the ongoing global economic trouble could prove to be a blessing for Bitcoin.

What do you think?

Featured image: DepositPhotos © aa-w

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LiteLink Technologies Signs MOU with InstaPay to Offer Freight Factoring to 1SHIFT Logistics Customers LiteLink Technologies Signs MOU with InstaPay to Offer Freight Factoring to 1SHIFT Logistics Customers

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VANCOUVER, British Columbia, May 30, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:BAXS) (FRA: C0B) , a leader in logistics, artificial intelligence and digital payment solutions, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with InstaPay Flexible LLC (“InstaPay”) to offer freight factoring to 1SHIFT customers.

The deal will see InstaPay offer factoring services to 1SHIFT Logistics customers in order to ensure shipments managed through the platform are promptly settled.

1SHIFT will automatically forward qualify loads with proof of delivery to InstaPay, who will, in turn, advance payment to the carrier the same-day and distribute a carrier defined percentage to the truck driver.

“We are very excited to have the ability to offer advanced same-day payments to our 1SHIFT customers and alleviate one of the major issues plaguing the trucking industry,” said CEO of LiteLink, Ashik Karim. “The addition of freight factoring into 1SHIFT logistics ecosystem makes the platform a true end-to-end management solution that will completely change how the transportation and logistics industry does business.”

1SHIFT powered by uBUCK is an end-to-end logistics management solution that enables real-time transparency and tracking as well as peer feedback and regulation.

InstaPay is a leading digital factoring service with a 3% or less flat factoring fee. The company helps carriers receive payments from clients within 24 hours. With an online portal and dedicated customer support, the factoring process with InstaPay is hassle-free. No contract lock-up means that carriers have options – there is no monthly minimum threshold, allowing carriers to decide if they factor an individual load or not.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:BAXS) (FRA: C0B) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. uBUCK Pay is a multi-currency digital wallet that supports traditional fiat and digital currencies. Consumers are able to make online and offline purchases using the uBUCK debit card and send funds worldwide for free.

About InstaPay Flexible LLC

InstaPay is a tech-focused factoring company based in Austin, Texas, which offers financial solutions for American carriers and freight brokers. Their mission is to help businesses access working capital quickly and hassle-free so they can achieve their goals. InstaPay takes pride in both their innovative technology applications and the high degree of customer satisfaction they deliver.

Forward-looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations.

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