Japan Optimistic About Crypto – Despite Coincheck Heist and Price Woes 115

This past Friday, financial regulators in Japan began on-site inspections of 16 digital currency exchanges — two weeks after hackers stole $530 million in NEM tokens from Tokyo-based cryptocurrency exchange Coincheck, the largest virtual coin heist in history.

Despite this heist — and concerns over lax security at other exchanges — regulators, investors, and enthusiasts in the country have not been deterred. While China has banned cryptocurrency exchanges outright, reportedly because the government intends to create its own digital currency, and South Korea has outlawed anonymous transactions, the Japanese government has embraced the blockchain phenomenon.

The government believes it can take the lead in the regional cryptocurrency race, which it hopes will drive economic growth and bring the government a hefty sum in taxes. According to one estimate, the government could benefit to the tune of Y1 trillion, or $9.2 billion, a year.

And it’s not just the crypto community and the state, Japanese companies are increasingly accepting payment in digital currencies, with over 10,000 companies already accepting Bitcoin instead of cash, including Peach, the nation’s largest budget airline, and electronics retailer Bic Camera. Further, the eighth-largest bank in the world, Tokyo-based Mitsubishi UFJ Financial Group, is developing its own cryptocurrency.

The problem, demonstrated by both the recent Coincheck heist and also the February 2014 hack and subsequent collapse of Mt. Gox Bitcoin exchange in Tokyo, is that regulators are playing catch-up in a quickly developing industry. As such, some exchanges have been permitted to remain vulnerable. In the case of Coincheck, the NEM coins were stored in a “hot wallet” instead of the more secure “cold wallet,” which operates on platforms not directly connected to the internet. Coincheck also didn’t implement an extra layer of security known as a multi-signature system.

“Innovation has been so fast that the government and bureaucrats until recently did not understand the functions of the blockchain or what a ‘cold wallet’ or a ‘hot wallet’ is,” said Ken Kawai, a partner at the law firm Anderson Mori & Tomotsune — who are serving as cryptocurrency advisers to the government. “Japan’s financial regulators are traditionally very conservative and never the first to move, but that has changed and Japan wants to be friendly to fintech,” he said. “It is just that nobody expected it to happen this fast.”

“I see a lot of energy and enthusiasm for cryptocurrencies here, despite what has happened,” said Scott Gentry, founder of the FreeAbound business development consultancy in Tokyo. “In the Coincheck case, the owner was told that he needed to have multi-signature security protocols in place, but he claimed he ‘never got around to it’, which is simply dereliction of duty to his clients.” This could be an example of gross negligence on the part of Coincheck; other Japanese exchanges have also been accused of irresponsible advertising.

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Exchange thousands of tokens with newly launched Changelly DeFi Swap 4425

As so-called decentralized finance (DeFi) applications boomed in the summer of 2020, the market has pivoted toward a new direction. DeFi makes financial products and services available to everyone who has access to the internet. Moreover, it helps eliminate third-party involvement in people’s businesses and private lives by creating fully secure and anonymous financial services. Next, DeFi empowers users to truly own their funds and utilize various tools to lend, borrow, stake, earn interest and more.

We are thrilled to announce that we are taking the first step toward introducing DeFi possibilities to our users with Changelly DeFi Swap powered by Yet Another DeFi.

Yet Another DeFi is a decentralized exchange (DEX) aggregator that encompasses all the advantages of DeFi and optimizes transaction costs. The Smart Router by YAD finds the best way for a swap among different liquidity providers and suggests the most beneficial split to proceed with the transaction.

What does this integration mean to our users?

  • 1,000+ available tokens
  • Best rates via DeFi
  • Lower transaction costs compared to industry leaders.

At present, any user can swap various Ethereum-based assets with just a few clicks. However, many more chains will become available in the near future, including BNB Chain, Solana, Fantom, Polygon, Arbitrum, Optimism, Tron and others.

The Changelly team is committed to the goal of becoming the leading CEX and DEX aggregator on the market. We believe our seven-year experience of working with CEXs combined with limitless opportunities of DEXs will make it possible to provide even better rates and lower fees to our users. With the integration of DEXs, we get one step closer to enabling seamless anything-to-anything swaps, regardless of blockchain, wallet connector, etc.

Learn more about Changelly:
Changelly website: https://changelly.com/
Changelly DeFi Swap: https://changelly.com/decentralized-exchange
Changelly Twitter: https://twitter.com/Changelly_team

ARC Unveils REACTOR, a Groundbreaking Software and Smart Contract Coding Graphic User Interface (GUI) in V1.2 With Developer Portal and Tutorial 5209

ARC officially moved ARC Reactor to V1.2 which allows developers to ingest any code from any EVM chain, and instantly display the code as a functional and editable diagram. Developers can immediately visually audit the code, with all exceptions and dependencies brought to light as well as how each module interacts with each other.

From there, the software developer can edit, add and build code functions, collaborate with other developers, test the code and ship it to any EVM chain.

In the following tutorial in the developer portal, smart-contract developers can follow a simple 8-step process which takes a total of 30 minutes of development time. This tutorial and video demonstrates how to ingest, audit, edit, test and ship a robust project like PancakeSwap from Binance BNB Chain to Polygon chain: https://reactor-docs.arc.market/category/tutorial

ARC Reactor’s objective is to create the new GUI terminal for creating, auditing, building, maintaining, collaborating and shipping of all smart contracts and code. While the team has initially chosen to focus on the burgeoning EVM (Ethereum Virtual Machine) ecosystem first, their roadmap includes other all significant languages and ecosystems including Solana, Cosmos, PolkaDot, Hedera, Java, Python, Ruby, React and more.

The team’s vision is that, in a few years, the vast majority of software developers in startups and corporations will use ARC Reactor as the de facto tool for developing and maintaining all codebases.

Henry Syahputra (CTO and technical co-founder of ARC) originally conceived of Reactor in 2018, inspired by the simple question: “What if all software development was a visual process, completely transparent and interactive? What could change?”

ARC Reactor presents a paradigm shift, allowing any code to be ingested immediately, ranging from open source libraries and existing solutions, right through to existing code within a corporation or startup. The software developer gains instant insight into every aspect of the architecture and code, including potential malware, exceptions, broken dependencies and more. Furthermore, the display of the code visually offers a nuanced and different perspective of the code, which recently led ARC Reactor to help one of the leading no code startups in WEB3 to identify a critical flaw in its architecture.

Beyond this initial perspective, the software developer can dive deeper and see all the logic in the smart contracts and code displayed visually and alter that code, as well as add functions.

From that point, the software engineer can test the code they want to ship and deploy it to any chain they choose.

Since Syahputra initially conceived of Reactor in 2018, his published paper has been cited numerous times, including by the Portuguese government for their Digital Identity solution in collaboration with WallID: https://scholar.google.com/scholar?cites=7580646348223569168&as_sdt=2005&sciodt=0,5&hl=en

ARC is specifically focusing on reaching out to L1 and L2 chain partners, who they feel can effect the greatest change by significantly helping them and projects in their ecosystem to:

  • lower barriers of entry, 
  • shorten development cycles, 
  • onboard software engineers faster,
  • build more robust and secure solutions,
  • lower costs and environmental impact,
  • collaborate,
  • audit,
  • ship cross-chain

ARC anticipates announcing more team members, advisors, partnerships, and product releases in the coming weeks. ARC has already begun discussions for its first round of equity-based financing.

For more information about this release as well as insights regarding the Reactor business model, please visit: https://arc-market.medium.com/arc-reactor-documents-and-tutorial-portal-launched-466d766005dc

About ARC:

ARC’s mission is to be the central command console for crypto.

ARC’s proprietary and unique offering starts with the ARC Reactor. Reactor’s rich design studio drastically reduces the time required to understand, audit and modify smart contracts. Users can ingest any Web3 project code, which becomes represented in a functional, editable diagram.

From there, users can audit the code, use the visual editor to modify the code, add custom fractions, maintain code and ship to any Ethereum Virtual Machine (EVM) chain. The ARC Reactor supports over 22 chains at present. All source code can be exported and used anywhere with zero vendor lock-in.

Inery Acquires Investment From Metavest at $128m Valuation 5151

Inery a decentralized data management system, has announced that it has secured an investment from web3-focused blockchain VC firm Metavest in the first week of September at the valuation of $128m

Inery is a decentralized data management system bringing DB to Web3. It provides low-cost, reduced latency, secure, and tamper-resistant solutions for data management. The data management system aims to ensure users, including gamers and businesses, retain control of their data in the metaverse via owner-controlled data assets.

Based in Singapore, Inery has branch offices in Switzerland, Dubai, and Serbia – a truly multicultural company, relying in full on the strength of its in-house teams. Since its inception, Inery has attracted the attention of the blockchain industry due to its elegant solutions for one of the main issues of Web3 – database decentralization and security.

Inery’s use cases can be applied to diverse sectors, including governments, enterprises, aviation, GameFi, healthcare, and metaverse. It provides a potential cross-chain solution for users to interact with their data assets in the entire metaverse domain using its DB solution. The project rolled out its first public testnet on August 10, 2022, preceding its upcoming launch, and is also scheduled for listing at the end of the third quarter of 2022.

Through this funding, Inery aims to expand its use cases—particularly in GameFi, where the company seeks to explore the full potential of the booming gaming industry with verified digital ownership of assets. Additionally, Inery aims to build a space for its users to seamlessly create and share NFTs.

Metavest has previously invested in and made strategic partnerships with several successful blockchain projects. Their investment portfolio includes Concordium, CasperLabs, Coinlist, Gala Games, Bored Ape Yacht Club, Splinterlands, Star Atlas, Duelist King, Nakamoto Games, Ember Sword, and more.

“Inery is very selective when it comes to new partnerships and collaborations. We aim to become a pillar of Web3, which is why when Metavest showed interest in our project, we were more than happy to partner with a Metaverse and NFT-focused platform. We believe that Inery and Metavest can extensively help each other reach both companies’ goals” said Inery CEO and co-founder Dr. Naveen Singh.

Inery will list its token in Q3 of this year (2022). Visit the company’s website and follow its official social media accounts to learn more.

About Inery

Inery is a proprietary layer-1 blockchain and decentralized data management solution. The network enables a decentralized, secure, and trusted foundation for database management by leveraging blockchain technology. It integrates blockchain functionalities and distributed database properties to create a paradigm shift in data access, storage, and management.

About Metavest

Metavest Capital is a blockchain VC firm, focused on Metaverse and NFT gaming projects. Their core investments include play-to-earn games, digital tokens, and in-game assets. It offers capital, strategy, and advisory to a variety of exciting new projects within this growing ecosystem.

Ergo Foundation Announces ErgoHack V: Mining and Minting 5159

This fall, the Ergo Foundation will host the fifth iteration of the highly successful ErgoHack series. This latest hackathon will take place from October 3-20, 2022, and it will be co-presented with Flux, Alephium and the Djed Alliance. With the much anticipated Ethereum Merge coming this fall, this ErgoHack aims to inspire developers and entrepreneurs to explore projects as they relate to mining and minting with the potential for cross-chain development and deployment (for example, consider the ways your project could take advantage of the tools on these other blockchains). Please note that although the theme of the hackathon deals with mining and minting, any and all project proposals are welcome for submission.

As a Layer 1 blockchain, Ergo is one of the most active platforms in terms of developer activity – it continually ranks amongst the highest in this category on Stack. Ergo hackathons have become an identifying feature of the platform over the last year, and previous ErgoHacks have yielded some of the most used dApps currently in the ecosystem. With the upcoming Ethereum Merge, there will be countless miners looking for a new crypto to mine, and Ergo is poised to welcome a great deal of those miners. The Ergo Platform is optimally situated to offer miners several technological innovations in the Proof of Work mining industry (ie. Storage Rent, governance responsibilities, etc). Ergo is already starting to see increased hashrate migration with the network hashrate up over 250% since the beginning of August.

With an eye to the future of Proof of Work mining, ErgoHack V: Mining and Minting will primarily focus on creating dApps, tools, and infrastructure to further attract miners that will be looking for a new crypto to mine after the Ethereum Merge. Those who are interested in participating in this exciting opportunity are encouraged to visit the ErgoHack website for details on how to submit an application. The ErgoHack V prize pool is also the largest to date! Prizes include:

1st Prize – 10k SigUSD
2nd Prize – 6k SigUSD
3rd Prize – 2k SigUSD

Additional prizes from co-presenters will include 1800 DACAU (Djed Alliance Contribution Accounting Unit), 20k ALPH, and more!

Ergo is setting the new standard in the evolution of Proof of Work blockchains. Together with our partners, participants are invited to help us build the future of blockchain and to explore the potential for cross-chain deployment. Are you ready to help build the future? Visit the Ergo Platform website for more information on Ergo and get your ErgoHack application started today!

ErgoHack V Sponsors and Presenters

Ergo

Ergo is a robust Proof of Work, smart contract platform built on the eUTXO model with numerous technological innovations, including NIPoPoWs, Storage Rent, Sigma Protocols, ErgoMixer, SigUSD, and subpool mining to name a few. It was fairly launched with no pre-mining, no pre-allocation of tokens, and no venture capital partnerships. The entire supply of ERG tokens has been reserved for the mining consensus, save a small portion (4.37% of the entire supply) that was sent to a treasury fund to be spent on promoting and developing the Ergo blockchain. The team behind the project represent some of the greatest minds in blockchain development, with numerous years of experience and countless academic papers to their credit. At the time of writing, the ERG token is up over 195% from the middle of July 2022.

Djed Alliance

Djed is a formally verified crypto-backed autonomous stablecoin protocol. Ergo’s main stablecoin, SigmaUSD, is a deployment of an open-source implementation of this protocol. The Djed Alliance stewards the evolution and growth of the Djed protocol, with the mission of bringing stability to the cryptocurrency industry.

Alephium

Alephium is the first operational sharded L1 blockchain scaling and enhancing on PoW & UTXO concepts. Decentralization, self-sovereignty, and security meet high-performance, accessibility, and energy efficiency in a dev-friendly network optimized for DeFi & smart contract applications. For more information, please visit Alephium’s website.

FLUX

Flux is building a new generation of scalable, decentralized cloud infrastructure. Developing Web3, Flux offers the advantages such as redundancy, interoperability, decentralization, and cost efficiency. For more information, please visit Flux’s website.

DigiFT and Diners Club complete redemption of the first regulatory-compliant corporate note security token 5248

DigiFT, which aims to provide regulated decentralized finance solutions on the Ethereum public blockchain, has successfully completed the issuance, secondary trading, and redemption of a corporate note security token on its decentralized exchange (‘”DEX”). To commemorate the completion of DigiFT’s inaugural listing, 100 NFTs will be minted and air-dropped to partners and various stakeholders.

The one-month note issued by Diners Club (Singapore) Private Limited (“DCS”) was fully subscribed at its initial offering on August 1st, 2022. Investors were able to trade the security token on DigiFT Security Token DEX efficiently with 80% of the transactions completed through the Automatic Market Maker (“AMM”) mechanism. Unlike a traditional exchange that relies on active market markers to complete a buy or sell order, AMM facilitates secondary market trading via smart contract liquidity pools.

Henry Zhang, CEO of DigiFT, shared, “Our token investors are the first in the world to trade real-world regulated financial assets on a public blockchain DEX. We will continue to innovate and offer more investment products for digital users in a regulatory-compliant manner.” Mr. Philip Koh of DCS shared, “The token is a significant breakthrough that leverages the benefits of blockchain to develop an alternate source of funding.”
DigiFT, founded in 2020 by Wanli Li and Henry Zhang, is striving to be the first regulated decentralized security trading exchange and is currently operating in the Monetary Authority of Singapore’s FinTech Regulatory Sandbox (“Sandbox”) as an exempt Recognised Market Operator with a Capital Markets Services licence. The blockchain-based exchange is the first decentralized finance trading platform admitted into the Sandbox. It facilitates the primary offering and secondary trading of security tokens backed by financial assets. As a result, investors can trade directly from their digital wallets after completing a know-your-client onboarding process.

DCS is a franchisee of Diners Club International Ltd., a direct banking and payment services company. The company has a large cardmember base in Singapore.

About DigiFT

DigiFT aims to provide regulated decentralized finance solutions on the Ethereum public blockchain. DigiFT launched the first regulation-abiding digital asset exchange. Asset owners can issue blockchain-based security tokens on our platform, and investors can trade with continuous liquidity via the Automatic Market Maker mechanism. DigiFT is a global outfit backed by well-established venture partners. The founding team originates from Goldman Sachs, UBS, Citibank, and Morgan Stanley. It has deep blockchain technology knowledge, having successfully developed digital asset exchange and products in the past.

Win $150,000 USDT with CoinFloww Beta Launch 5298

2022 09 10 в 15 16 10

Digital asset trading has long suffered due to high crypto exchange transaction fees, regulatory hurdles by regulators, and stringent crypto exchange rules. Then came CoinFloww, the most advanced digital asset exchange.

Based on the world-class digital asset exchange technology, CoinFloww is proud to launch at a time when crypto exchanges are fighting for rights and struggling with a fraught market.

The team behind CoinFloww Exchange is constantly improving our UX and UI so our users can have extraordinary trade experiences. Our new UX and UI design of CoinFloww will be updated soon.

Rather than profiteering on crypto startups, CoinFloww is on a mission to nurture and patronise upcoming projects. CoinFloww does not charge any listing fee and offers reasonable promotional packages.

Derivative users are often left behind in the crypto ecosystem, but CoinFloww Exchange is a platform that truly caters to derivative traders with up to 300x leverage.

CoinFloww is not just a digital asset exchange; it is more than that. Besides typical digital asset exchange functions, CoinFloww has a roadmap of becoming a one-stop application for the crypto user to gain financial freedom.

CoinFloww has recently announced its whooping 150k USD prize pool. Any CoinFloww user can participate in the CoinFloww Bug Bounty Program to win our prize pool of $150,000.