Trump and Reagan Advisors Join Frax to Launch World’s First Fully Decentralized Global Currency 27585

Frax, the world’s first algorithmic and fully decentralized stablecoin on the blockchain today announced Stephen Moore, Trump economic advisor and former Federal Reserve nominee, and Ralph Benko, former Reagan deputy general counsel, joined the company’s executive team.

Moore and Benko are joining Sam Kazemian, co-founder of Everipedia and Frax to launch the first fully decentralized global currency aimed at eliminating currency transaction costs, while inhibiting currency manipulation, which is commonplace throughout the world.

Moore is joining Frax as co-founder and is a distinguished economist who plans to apply the skills and experience he acquired from the decades of financial public policy work at the highest levels.

“Frax is creating a new global economic monetary paradigm,” said Stephen Moore, chief economic officer at Frax. “Central banks will soon feel the competition from private currencies such as Frax. Currencies are intended to retain their value over time, but given the wild gyration in values of currencies and the struggle in many countries with hyperinflation, we need a global currency that has a stable value to benefit consumers, businesses and investors.”

Frax is the first algorithmically-driven global currency that is fully decentralized and backed by fractional reserves. All loans of Frax’s reserve assets are done on the blockchain, which eliminates the need for a central bank and ensures that Frax owners have complete confidentiality in how they spend their funds. As a noncustodial stablecoin, users can reliably trade the token around the world without fear for privacy invasions, government shut-downs and most importantly – price manipulations. Owners of Frax can send money around the world without worrying about remittances or fees meaning people can ensure that the money they send abroad will stay the same value today and tomorrow.

Benko also joins the executive team as general counsel. He is a national economic thought leader, a former deputy general counsel to President Ronald Reagan and was senior counselor to the Chamber of Digital Commerce, the leading trade association for the blockchain ecosystem.

“Frax’s unique and elegant design offers the prospect for success where other stablecoins have struggled,” said Benko. “It will empower owners to trade in a currency that they know will remain a stable unit of account and store of value and transparent and reliable across the globe. We aspire to make Frax what Bank of England governor Mark Carney called the ‘synthetic hegemonic currency’ of the future.”

“It is an honor to have Stephen and Ralph join Frax as we launch the world’s first truly decentralized stablecoin,” said Sam Kazemian, Everipedia co-founder and CEO of Frax. “With both of their exceptional perspectives, we are making a reliable, safe and secure stablecoin designed to make the world’s international financial and monetary system more stable and efficient, transforming the world of finance forever.”

About Stephen Moore

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XETHER 4939

Gambling has existed since ancient times, in many countries they were banned, and then allowed, played by everyone, from the poor to the richest, over the centuries, games have only become more interesting and varied. And now the modern world, and it would seem that everything is fine, online games and casinos in many countries are officially allowed, place a bet and play, and if you win, rejoice and take your money, but the catch is that the casino is almost impossible to track how much they are paid to players and how much they take for themselves. Fortunately, blockchain technology has appeared (in which there is no human factor) but there is a chain of blocks that cannot be undone or made changes.

2323

Projects presented on the blockchain are open to the user and easily provable. This technology began to be applied in the field of gambling industry. Today, a unique online project on the XETHER blockchain is presented in which you can make a cryptocurrency bet, and just log in from your wallet, for example, MetaMask and enjoy the game, but there are a lot of them, bets and winnings are visible online, instant withdrawals are instant , generally a pleasure. This casino has its own XEET token, and anyone can buy it for passive earnings https://xether.io/token/details

If you have any questions or just want to share your emotions about the game, then this can easily be done in the telegram chat https://t.me/xEtherTalk_en

And on you tube channel you can find out about this gaming eco system https://www.youtube.com/channel/UCDzKylgnFyepuo03wxjwtYA

Go to the site https://xether.io, and join the project, good luck friends!

Global Airlines Leverage AI, Machine Learning and Blockchain to Save Costs and Generate New Revenues, Says Frost & Sullivan 4948

Frost & Sullivan’s recent study, Analysis of the Global Airline IT Market, Forecast to 2025, finds that the increasing expectations of passengers are compelling airlines to embrace digital enablers and propelling a digital transformation journey that will fundamentally change traditional airline information technology (IT) strategies. Impacted by the COVID-19 pandemic, the airline IT market is estimated to generate a revenue of $20.74 billion by 2025, compared to $21.20 billion in 2019. As per the original forecast, by 2025, the market was estimated to reach $25.1 billion from $21.20 billion in 2019.

“Despite the adverse impact of COVID-19 on the industry, airlines are increasingly focusing on adopting next-generation digital solutions such as mobility, machine learning (ML), Big Data analytics, and artificial intelligence (AI) to identify cost-saving and revenue-generating opportunities,” said Abhilash Varkey Abraham, Aerospace & Defense Research Analyst at Frost & Sullivan. “Additionally, a few major airlines have already committed to migrating their entire IT infrastructure to the cloud over the next 3-5 years and this trend is likely to continue and grow, mainly among low-cost carriers.”

Abraham added: “From a regional airline IT market perspective, North American airlines were the highest revenue contributor in 2019 and are expected to remain so during the forecast period. Further, APAC is expected to be the key growth engine over the medium and long terms.”

With global airlines losing $25 billion due to disruptions in operations and with 50% of them addressable via digital solutions, a huge opportunity exists for IT suppliers to innovate and expand their portfolio. Market opportunities include:

  • Real-time data analytics with an interactive display/graphical user interfaces (GUI) will have higher penetration in the medium term, which will serve as a growth opportunity for suppliers.
  • With airlines embracing the capabilities of next-gen technologies such as AI and ML, solution providers are encouraged to integrate these technologies into their solutions.
  • Vendors are encouraged to develop solutions to solve airlines’ disruption pain points, especially in the areas of passenger re-accommodation and compensation.
  • Adopting Big Data platforms can streamline the operations of airlines, reducing cost and time.

Analysis of the Global Airline IT Market, Forecast to 2025 is the latest addition to Frost & Sullivan’s Aerospace & Defense research and analyses, available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

Inaugural Mainnet by Messari Crypto Event Brings Together 1,300+ Attendees & Speakers 5216

Over 1,300 attendees from around the world virtually gathered earlier this month (June 1-3) for the inaugural Mainnet by Messari event, focusing on the crypto industry’s past, present, and future of developmental progress and pain points from leading thinkers and builders including: Meltem Demirors (CoinShares), Albert Wenger (Union Square Ventures), CZ (Binance), Balaji Srinivasan (Nakamoto, CoinBase), and Neha Narula (MIT, Digital Currency Initiative).

Over 200 of the industry’s leading executives and builders participated as speakers from some of the top companies and projects including: Fidelity Digital Assets, Ark Investment, Paxos Global, Circle, Bitfinex, Lightning Labs, Kraken, Maker Foundation, Coinbase, Ledger, Chainalysis, Bison Trails, Bloq, Binance, and more. Additionally, the event raised over $60K for COVID-19 relief efforts via non-profit partners, Binance Charity and The Giving Block.

As the talks centered on many themes related to creating free, equitable systemic financial, and technological changes to our world, the prevailing global call for racial and governmental reform ignited around the globe sparked much debate, discussion, and unity on the need for innovative advancements now more than ever.

A few noteworthy talks included:

  • A heated debate took place during the session “Blockchain Analysis or Financial Surveillance” between Alex Gladstein (Human Rights Foundation) and Dr. Tom Robinson (Elliptic), inspiring Gladstein’s posit to Robinson, “I think you should quit your job and go and work for the good guys.”
  • During the presentation “Bitcoin 2020+” with Elizabeth Stark (Lightning Labs) and Neha Narula (MIT, Digital Currency Initiative), Narula sparked Twitter fodder when she questioned the need for institutional support of the movement vs. use of the people, stating “Mainstream adoption doesn’t mean institutional adoption. To me, it means people–everyday people–are actually using this network.”
  • During her keynote “The Anxiety of Influence: The Ideological Contradictions of Crypto-Governance,” Meltem Demirors (CoinShares) related the need to be different and pull away from the inequalities and power-driven decision-making structures that have been seen to go so awry over the course of history, and more specifically in recent weeks and days.
  • Albert Wenger (Union Square Ventures) thoughtfully discussed income and wealth inequality, opportunity attainment, and other themes of the scarcity of attention to valuable, curated knowledge as a society to drive impactful change during his fireside chat with Ryan Selkis (Messari), “The World After Capital.” 

Videos of select presentations will be posted on Messari.io/Mainnet2020 for attendee and Messari Pro subscriber access, and on the Messari YouTube channel in the coming days.

The event was produced by Messari, the crypto industry’s leading market intelligence company. Event sponsors included: title sponsor BitGo and top tier sponsors Bitstamp, Crypto.com, Nexo, Anchorage, Fireblocks, Sila, and ZUBR.

About Messari: 

Mainnet is a production of Messari, the industry’s leading market intelligence company focused on the digital asset ecosystem. The company’s tools and research solutions provide customers with actionable insights to confidently make decisions in the fast-moving crypto-asset space. Since its inception in 2017, Messari has built strong relationships with the industry’s top thinkers, investors, and builders from today’s most promising projects. Learn more about Messari at messari.io.

Huobi Token Begins Trading as Japan’s First Compliant Global Exchange Token 4996

Huobi Group today announced that its native ecosystem token Huobi Token (HT) has been listed on Huobi Japan as a fully compliant crypto asset. HT is the first global exchange token to receive regulatory approval for trading in the country by the Financial Services Agency (FSA), a Japanese financial regulator responsible for overseeing banking, securities and exchange, and insurance sectors.

According to crypto market analysis firm DataLight, Japan has more than 6.2 million crypto asset investors, making it the second-largest crypto trading market in the world. The country is known for having some of the most stringent compliance policies for crypto assets and limits the number of new tokens approved for trading. HT is currently one of just 26 compliant crypto assets to trade in Japan under the FSA’s guidance.

“The HT approval process was an arduous journey, so we’re incredibly excited to now offer it as a trading option for local users,” said Haiteng Chen, CEO of Huobi Japan. “The listing is a testament to Huobi’s on-going commitment to its global compliance strategy. We will continue working closely with the FSA to ensure full compliance with local regulations so our users can trade with ease in a safe and secure environment.”

Of the compliant crypto assets in Japan, HT is the country’s seventh-largest token in market capitalization. Huobi Japan supports six trading pairs for HT, including HT/JPY, HT/BTC, HT/ETH, BCH/HT, XRP/HT, and LTC/HT. Users can also access Huobi Japan’s fiat-to-crypto gateway to purchase HT directly with the Japanese Yen at local branches. In the near future, Huobi Japan will reduce the HT fee and launch HT voting functionality to strengthen the exchange.

As a localized exchange and subsidiary of Huobi Group, Huobi Japan began working with the FSA in mid-2018 to meet all regulatory requirements and obtain the proper licenses to operate legally in Japan. In late 2018, Huobi Japan received the Kanto Finance Bureau No. 0007 license issued by the Japanese Ministry of Finance, which allowed the exchange to support six digital assets, 10 trading pairs, and a fiat-to-crypto on-ramp for the Japanese Yen. This early regulatory approval of Huobi Japan ultimately helped pave the way for the HT approval.

HT’s listing comes as Japan continues to tighten regulations and updates existing laws to better define crypto assets. Last year, the Japanese House of Representatives passed revisions to two pieces of legislation, the Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), to classify and regulate crypto assets. Japan began enforcing the revised versions of the PSA and FIEA this past month.

About Huobi Japan

Huobi Japan is one of Huobi Group’s strategic overseas operations. Through acquiring a licensed Japanese cryptocurrency exchange ‘BitTrade’ in September 2019, Huobi Japan has since been able to provide Yen-to-crypto trading services in a legally compliant manner. In an effort to build a world leading digital asset exchange and with liquidity shared with Huobi Global, Huobi Japan is committed to providing secure, professional and quality services for Japanese users.

About Huobi Group

Consisting of numerous upstream and downstream enterprises, Huobi Group is a leading global blockchain company. Established by Leon Li in 2013, the company’s Huobi Global exchange accumulative turnover exceeds US $3 trillion. Huobi proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 170+ countries. For more information: www.huobi.com.

Ideanomics Announces Reduction of Debt Holders as Part of Growth Plans 4885

Ideanomics (NASDAQ: IDEX) (“Ideanomics” or the “Company”) is pleased to announce the second-stage of debt conversion, with the noteholders of each of the senior secured convertible debentures, and subordinated secured convertible debentures originally issued by the company during 2019, representing approximately USD 10.6 Million owed to two NY-area funds, ID Venturas and YA II PN. This comes on the back of last week’s announcement that the Company’s Chairman and Vice-Chairman had each converted their debt as part of the Company’s plans to clean up its balance sheet and reduce interest payments as it gears up for growth. The effect of this has pushed out the average maturity on remaining debt until mid-2021.

As part of its growth plans, Ideanomics, MEG, and Treeletrik are currently expanding their management teams to take advantage of the anticipated growth. Additionally, the company is finalizing plans for a 10b5-1 program, which will allow management to enter the market to purchase the company’s stock at pre-determined intervals and avoid concerns related to the possession of material non-public information. 10b5-1 plans allow executives to notify the market ahead of time about intentions to conduct purchase and sale activities and in a regulatory compliant way with which to conduct such transactions with full transparency to the market.

About Ideanomics
Ideanomics is a global company focused on facilitating the adoption of commercial electric vehicles and developing next generation financial services and Fintech products. Its electric vehicle division, Mobile Energy Global (MEG) provides group purchasing discounts on commercial electric vehicles, EV batteries and electricity as well as financing and charging solutions. Ideanomics Capital includes DBOT ATS and Intelligenta which provide innovative financial services solutions powered by AI and blockchain. MEG and Ideanomics Capital provide our global customers and partners with better efficiencies and technologies and greater access to global markets.

Ideanomics MEG Begins EV Taxi Deliveries in Guilin, Guanxi Province 5410

Ideanomics is pleased to announce the commencement of electric taxi deliveries for Guilin, Guanxi Province. In November 2019, Ideanomics announced that its Mobile Energy Global (MEG) division secured an order for 2,300 electric taxis from the City of Guilin in Guanxi province though MEG’s partner QuianXi.

Ideanomics now expects delivery of the first 200 EV taxis within July 2020, beginning immediately and completing within the next three to four weeks. This order of will be comprised of Dongfeng Nissan Sylphy ZE vehicles, a regional version of the midsize sedan also known as the Nissan Sentra in other markets. The Sylphy is the best-selling Nissan model in China. The balance of order announced in November 2019 is expected to be delivered through the end of the year and will likely involve multiple manufacturers.

The initial 200 electric taxi delivery is valued at approximately RMB 20 Million or USD 2.8 Million. Ideanomics anticipates these vehicles will be booked on a gross basis, subject to the terms of the executed sales contract and in accordance with U.S. GAAP.

“As China’s economy recovers and businesses gradually resume operations, Ideanomics continues to execute on its business plans and grow its EV business,” said Ideanomics CEO Alf Poor. “We are pleased to announce this delivery and expect to build sales momentum throughout the year while redirecting resources from non-core businesses to help support growth in MEG.”