Just when the entire crypto markets were seen correcting heavily last week, the G20 regulators instilled positivity back within the crypto community with some positive statements on digital currency regulations. On March 18, just a day before the G20 Buenos Aires summit meetings were to begin, the Financial Stability Board (FSB) wrote a where Chairman Mark Carney said that there is no immediate need to regulate digital currencies as of now.
The constant talks of enforcing global regulations on crypto operation had caused fear and panic in the crypto community over the last few weeks causing the markets to move sideways. Mark Carney in his letter mentions that at present digital currencies contribute a very small part of the global financial system and hence they don’t pose enough risks. Carney : “The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time. This is in part because they are small relative to the financial system.”
Soon after the news broke out, a new wave of positivity and optimism swept the crypto markets back. bitcoin made a sharp recovery on Monday of about $1200. The cryptocurrency has slipped below $7500 levels and on Monday, March 19, it was seen making a high of $8673.46, according to the data on .
Bart Stephens, co-founder and managing partner at Blockchain Capital said that it should be noted that the FSB’s announcement doesn’t completely wipe out the possibility of crypto regulations in future, but it certainly gives crypto investors some space to breathe in this heavily correcting market. Stephens said: “The G-20 news over the weekend helped crypto prices. Or at least, the G-20 news could have been a lot worse.”
Joe Van Hecke, founder and managing partner at Grace Hall Companies commented on similar lines saying “There were some positive comments from the Financial Stability Board today that created some much needed bullish news for bitcoin and cryptocurrencies in general. The space has been hammered over the past few months with a spate of bad press.”
All the finance ministers from the G20, who are seen cracking down on issues of tax evasion through crypto investments will surely be discussing this topic at length. As reported by , the G20 countries want cryptocurrencies to be recognized as an asset and not money and hence will be moving a consensus for the same. Moving cryptocurrencies into asset class would make them subject to capital gains tax.
Klaas Knot, president of De Nederlandsche Bank NV and also the member of FSB’s standard committee on assessment of vulnerabilities said: “Whether you call it crypto assets, crypto tokens — definitely not cryptocurrencies — let that be clear a message as far as I’m concerned. I don’t think any of these cryptos satisfy the three roles money plays in an economy.”
In addition to bitcoin, other major cryptocurrencies like and also showed good recovery on Monday. Ethereum which slipped below $500 made a 10% to hit the high of $557. Similarly, Ripple that was trading below $0.60 made a 20% surge to hit a high of $0.71 on Monday.
Today, the G20 ministers are scheduled to discuss the issue with crypto and thus by the day end, we expect more clarity from the G20 on the crypto regulations.
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Ethereum News Update
Although cryptocurrency prices recovered slightly on Sunday night, the market is still burdened by what appears to be a regulatory crackdown in the United States.
So it hardly matters that Ethereum prices are up 4.66%. Hours earlier, the world’s second-biggest crypto hit a three-month low, making the gains seem less like a recovery and more like an air freshener used to mask an uncomfortable odor.
What’s at the heart of this stench? Regulation, of course.
The U.S. Securities and Exchange Commission (SEC) started handing out subpoenas to blockchain startups last month. Ostensibly, the SEC is going after companies that issued suspicious tokens, but.
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TEL AVIV – March, 2018 – is the blockchain-based wellness platform that provides users with a Personal Health Assistant (PHA). Yoo-Mi PHA offers hyper-personalized tips, prompts, daily guidance and incentives to help people achieve their individual wellness goals.
The UME token is used as an incentivization system to reward users for completing steps towards better physical well-being, as well as providing cost-saving purchases and cashback within the Yoo-Mi PHA marketplace. The use of a dedicated token enables Yoo-Mi PHA to offer users token rewards every time they make a step towards attaining their wellness goal, such as losing a kilo, choosing a healthy meal or tracking the vitals in their blood test results. By using the token, users have access to cost-saving purchases and up to 15% cashback on an extensive array of wellness products, activities and services within the Yoo-Mi PHA marketplace such as personal trainers, nutritional supplements, weight loss aides, which further help users meet their goals. By leveraging blockchain technology, Yoo-Mi PHA has created an innovative way to reward every user to be their fittest, happiest self.
Yoo-Mi PHA was created by a team of clinical psychology experts together with AI innovators, with the objective of tapping into the complex personal and psychological drivers that so often distract, tempt and discourage people away from persevering with their wellness goals. The platform applies innovative Deep Psychology to Deep Learning technologies to boost motivation through a hyper-personalized incentivization system that rewards each user for taking proactive steps toward their self-improvement goals.
“In founding Yoo-Mi PHA, we wanted to take the burden of self-motivation away from our users. We wanted to strip back the noise out there dictating generic wellness and nutritional advice, to provide real, hyper-personalized, motivating guidance for each person.” said Yoram Kraus, CEO of Yoo-Mi PHA. “By understanding our users, the psychology-driven AI Avatar creates and motivates each person through real programs, language and incentives toward their individual path of success.”
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The world’s first decentralized luxury watch database – ChronoBase – announces its token pre-sale, which will start on March 27th. Thanks to this database, the owners of luxury watches will be able to price them accordingly and claim ownership on the spot, while manufacturers and dealers will be able to prove the ‘clean’ origin of watches.
ChronoBase is based on the modern blockchain technology called a decentralized database. The system will generate an Ethereum-based certificate that cannot be falsified. Moreover, users can check whether the watch is stolen and find out if it is already in use to avoid a fraud.
The Etherum-based blockchain technology makes any manipulations with the data impossible — what the user has put into the system remains safely guarded. The technology enables ChronoBase to keep and verify the whole ownership history of the watch, making it available to users anywhere in the world, in just a few clicks. All you need to do is to enter the brand name, model, and serial number.
Andreas Fleischer, ChronoBase CEO, says: ‘Luxury watches are not just an accessory; it is also an investment. As well as artworks, any watch increases in price over time. Therefore, keeping as much information about the luxury watch as possible is extremely important, whatever it takes. This is possible even in case of a loss or theft. How? Thanks to blockchain technology and ChronoBase service.’
ChronoBase partners receive access to all profitable features: watches registration and ownership confirmation with original documents; lost or stolen watches search; verified information on watches history, age, ownership; maintenance, repair, restoration or any other service registration.
From April 11th to June 5th ChronoBase will be selling the tokens of its platform, the sale is followed by the pre-sale from March 27th to April 5th. 100 million tokens are issued for sale. The initial price for 1 BASE is 0.1 USD. The BTC and ETH cryptocurrencies will be accepted.
About ChronoBase
ChronoBase is a reliable and easily accessible database with the information on thousands of luxury watches, which can be registered by manufacturers, dealers, owners etc. The project has the modern blockchain technology — a decentralized database — as its cornerstone. The whole watches life cycle, from manufacturing to end usage, can now be recorded in the blockchain. For more information visit .
https://www.facebook.com/chronobase.io/
https://www.youtube.com/channel/UCxsR_OiLSJE1l9-25WOZ6Ag
https://medium.com/@chronobase
https://www.linkedin.com/company/chronobase/
Contact Email Address
sm@dailyco.in
Supporting Link
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