Uber Founder Plans to Change the Philosophy of Cryptocurrency 302

The news in November reported that Uber co-founder and chairman Garrett Camp would join other billionaire philanthropists in giving half his wealth away after what he described as an “eye-opening” experience while traveling in Africa.

What was not reported was that the experience also triggered the idea for a new kind of cryptocurrency.

Instant, Affordable, Borderless Currency

Camp who only began seriously looking at cryptocurrencies last year found the entire idea wanting in many ways. He decided it would be best to re-design the system from a different philosophical standpoint.

Working with the best minds from universities, science foundations, and research institutes, similar to how the internet was formed, he is calling the project ‘Eco’ because it is easy to remember and to say in almost any language.

Camp is one of many tech leaders getting into the cryptocurrency ring. Most notably of late Pavel Durov founder of the chat app Telegram has reportedly raised over a billion dollars in an ICO for his TON network. While Mark Zuckerberg has talked about the need for Facebook to move towards encryption and cryptocurrency.

Camp’s goals are different though, he is creating a cryptocurrency that operates on almost contrasting principles to existing coins from the foundation up.

Eco, a Philosophically Different Kind of Token

Firstly, the Eco’s blockchain, or shared ledger, is being designed to run on verified nodes as opposed to a network of anonymous machines. This will forfeit some aspects of security but gain efficiency through coordinated governance.

Secondly, ‘miners’ won’t be competing against each other as tokens will be shared equally throughout the entire system of verified nodes whenever a new block is confirmed. This discourages people from throwing as much computing power as they can at the system and thus cuts down on energy consumed.

The way Camp intends distribution is as different as his idea for “mining”. Unlike Durov, who seemed to be testing the limits of how much money he could wring from an as yet programmed network, some of the initial Eco tokens will be given away to get things started.

The “ICO” plan is to distribute half of the trillion tokens to be generated over several years to the first billion users. Of that, a fifth of the tokens will be set aside for verified nodes. A tenth to pay operational expenses for Camp’s Eco Foundation. Another tenth for advisers and contributors and a final tenth for  “strategic partners worldwide.”

The project is still in the design phase and Camp is inviting experts in many fields to join in on creating the ‘Eco’. The white paper actually has a call out to experts written into it.

If you are an expert in technology, security, economics, governance, policy or design and are interested in helping build Eco into a global currency, please email us at [email protected]

When speaking about the future of the project Camp expressed a cautious optimism saying “I think it could have as much or even greater impact (than Uber) if it succeeds,”.

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Fineqia International Provides Update on Market Activity 6088

At the request of IIROC, Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) wishes to confirm that the Company’s management is unaware of any material change in the Company’s operations that would account for the recent increase in market activity.

Fineqia International outlines the Company’s corporate governance, culture, processes and relations by which the Company and its subsidiaries are controlled, directed and governed. Fineqia International oversees and ensures the overall success, planning and growth of the Company and all of its subsidiaries including those pertaining to the incorporation of blockchain technologies to achieve these objectives.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control that may cause actual results or performance to differ materially from those currently anticipated in such statements.

Dvision Network Integrates With Chainlink to Bring Fair Random Rewards Distribution & NFT Costing to Their VR Ecosystem 6222

Dvision Network have announced its integration with blockchain oracle solution Chainlink, bringing accurate NFT item costing and secure, provably-fair rewards to its VR Ecosystem. South Korean-based VR Content Ecosystem Dvision Network has announced an integration of its technology with market-leading blockchain oracle solution Chainlink. Chainlink’s Decentralized Price Feeds, will enable Dvision Network users to accurately estimate the cost of NFT item creation in its VR marketplace. Additionally, Chainlink’s Verifiable Random Function (VRF) will enable the secure, provably-fair random generation and distribution of on-chain rewards to its users.

What is Dvision Network?

Dvision Network is a pioneering new VR metaverse on the blockchain, which aspires to set the new standard of what is possible for the VR user experience. By utilizing the exponential potential of Blockchain and VR technologies, Dvision network will create an unprecedented and inclusive virtual ecosystem for businesses, designers, and regular users.

The South-Korean powerhouse aims to establish an efficient VR ecosystem with a new concept, addressing the arising issues in the VR industry. Dvision offers high-quality pieces of content in the VR-City, and a customization of the virtual space in the VR-Space and essentially expands the VR ecosystem via its VR-Market, introducing its unprecedented NFT ecosystem.

Blockchain Oracles and Smart Contracts: A Perfect Match?

Blockchain oracles are devices or programs that enable (on-chain) smart contacts to interact with off-chain data and systems outside their native blockchain. This relationship allows the smart contracts to execute on-chain functions based on real-world data and events such as web APIs, IoT networks, and blockchain data-centric networks.

This new ability to use external data in smart contract applications has been a massive breakthrough, greatly expanding the amount of use cases possible on blockchains. The only caveat with this optimal relationship is that the oracle is responsible for executing the smart contract and must have a level of security and reliability equal to the underlying blockchain.

Chainlink Decentralized Oracle

Chainlink’s decentralized blockchain oracle uses a unique flexible framework preventing any one point of failure whilst allowing users to receive data from external sources. The initial intergration with Division Network will leverage Chainlink’s hugely successful decentralized price feeds as the primary oracle solution in the NFT marketplace.

Chainlink Price Feeds will be used to calculate the exact gas fees incurred when creating NFTs, ensuring users have access to accurate, up-to-date data on the true costs of using the network. Chainlinks Price Feeds were selected exclusively for their best-in-class features, including:

  • High-Quality Data: Price data is sourced from premium off-chain data aggregators, leading to a volume-adjusted market-wide price aggregated from hundreds of exchanges as opposed to any one exchange.
  • Decentralized: Price Feeds are decentralized at both the data source and oracle level, providing highly available and manipulation resistant oracle services.
  • Secure Nodes: All oracle nodes are run by known and experienced blockchain DevOps, bringing users reliable services to users.

Dvision Networks Provably Fair Random Gaming Rewards

Dvision Network will integrate Chainlink VRF to power the distribution of chance-based rewards to users who accomplish certain tasks. Chainlink VRF is an on-chain random number generation (RNG) solution that the oracle nodes, external entities, or even Dvision developers can tamper with.

This shift represents a huge advancement in the space, enabling a provably fair and on-chain verifiable source of secure randomness that any user can independently audit. in-game items or NFT attributes can now be proven as both randomly determined and distributed, ensuring each user has a fair chance of receiving rewards.

Dvision Network CEO Jung Hyun Eom stated:

“By using Chainlink to access reliable price feeds and determine the distribution of random NFT rewards, Dvision users have assurances that the digital goods created by their gameplay will be based on provably fair systems, as well as be exchangeable on the open market for fair-market values and governed by economic models that are permanent and stable.”

Dvision and Chainlink: A Decentralized Vision

The core values supporting the Chainlink blockchain oracle perfectly align with the vision of Dvision Network, which aims to build a truly decentralized blockchain platform. Dvisions new integration with Chainlinks Verifiable Random Function and Decentralized Price Feeds are a game-changer for the VR industry, with a new found level of trust and security for not only the ecosystem, but the entire VR industry.

CPH Crypto Offers Total Trading Flexibility With New Mobile App for iOS and Android 5923

Just a couple of weeks ago CPH Crypto, a leading Scandinavian deep-discount crypto exchange, announced margin trading 10x on crypto spot as its latest service. The company is proud to announce that traders can now onboard as clients and conduct all trading activities via CPH Crypto’s new mobile Trader App now available as Android and iOS platforms. The new trader app enables clients to start trading after just a couple of minutes of registration and onboarding. The CPH Crypto Trader App allows users to trade all the most popular cryptocurrencies and pairs, swiftly deposit, transfer, and withdraw bitcoin and USD anytime.

CPH Crypto’s CEO, Jan Andersen describes the recent progress, stating:

“We have come a long way in only a few months since the launch of CPH Crypto webtrader in September. Margin trading on crypto spot was successfully launched just recently, and now our apps are ready. We know that this is extremely important for our clients because it offers them total trading flexibility. They can do everything on the smartphone and use the mobile trading apps like their usual desktop trading.”

Unlimited Trading For Just 39 USD/Month

According to CPH Crypto’s philosophy, traders should only have to focus on their strategy and not on the costs when they trade. That is why CPH Crypto goes against the trend of high trading fees on the crypto market and offers a deep-discount fixed fee of only 39 USD/month for unlimited trading. Or a commission of only 0.04 pct. per transaction for single trading.

CEO Jan Andersen explains:

“In the traditional stock and FX trading market competition has driven down fees to a low level over the last decade. The same needs to happen in the crypto space, but we want it to go faster, and that’s why we launched our discount concept in September.”

Dominant Trading Platforms Up to 13X More Expensive

Recent calculations clearly document that some of the biggest crypto trading platforms are as much as 13 times more expensive for active crypto traders to use than CPH Crypto.

To obtain a complete view of a particular broker’s or exchange’s trading fees, individuals need to take both commissions and spread into consideration. Traders tend to forget the impact of the spread on the total costs, even though the spread is often where the most significant part of the total fees is hidden, especially when trading on so-called commission-free brokers or exchanges.

Typically these brokers/exchanges tend to compensate for the lack of fee on commission by heavily increasing the spread – the difference between the bid price and the sales price – enabling them to earn their margin on the spread instead. On top of this, traders should not forget that high fees on money management – like deposits and withdrawal – is also added to the total costs.

Wize Pharma and Cosmos Capital enter into Bid Implementation Agreement 5400

Wize Pharma, Inc. (OTCQB: WIZP), a clinical-stage biopharmaceutical company focused on the treatment of ophthalmic disorders, and Cosmos Capital Limited, a leading digital infrastructure provider based in Sydney, Australia, today announced that they have entered into a bid implementation agreement (“BIA”), whereby Wize has agreed to make an off-market takeover offer to acquire all of the outstanding shares of Cosmos, subject to satisfaction of various closing conditions set forth in the BIA, resulting in Cosmos becoming a wholly-owned subsidiary of Wize.

“We are excited about the Wize Cosmos transaction,” stated Noam Danenberg, CEO of Wize. “The Cosmos team brings a proven track record, experienced management and logistics capabilities within the Bitcoin mining industry. Consistent with our focus on maximising value for our shareholders, this transaction provides a continuing interest in our LO2A biomed activity, through the creation of a contingent value right, while providing exposure to Cosmos’ Bitcoin mining operations.”

James Manning, CEO and founder of Cosmos, commented, “Through this transaction we are excited to be providing public markets access to our digital infrastructure business and have enjoyed working with the like-minded Wize team throughout this process. Becoming a part of a publicly traded company is central to our continued growth and will allow us to accelerate our expansion plans moving forward.”

Key Transaction Details

Under the terms of the BIA, Wize will commence an off-market takeover offer under applicable Australian laws to acquire all of the outstanding shares of Cosmos (the “Offer”) in exchange for (i) 38.78 shares of Wize common stock and (ii) 22.33 warrants (each to acquire one share of Wize common stock) (the “Milestone Warrants”) for each Cosmos share (subject to a minimum tender of at least 90% of Cosmos’ outstanding ordinary shares). Subject to certain exceptions, the Milestone Warrants will become fully exercisable into Wize common stock provided Cosmos warrant holders retain the Wize stock issued to them until December 31, 2021 (the “31 December Milestone”).

Upon completion of the transaction, and assuming all of the holders of Cosmos shares accept the Offer, Cosmos shareholders will own approximately 81.3% of the outstanding common stock of the combined company (87% if all of the Milestone Warrants become fully vested), while Wize existing shareholders will remain the owners of approximately 16.3% of the outstanding common stock of the combined company (11.1% if all of holders of the Milestone Warrants satisfy the 31 December Milestone and the Milestone Warrants become fully vested), each on a fully diluted basis and including warrants to be issued to Wize’s financial advisor to the transaction.

Following the targeted closing of the transaction in the first quarter of 2021, and based on Wize’s 60 day VWAP of US$0.143 on December 29, 2020 (and assuming that all the Milestone Warrants become fully vested), the combined company is expected to have a market capitalisation of approximately US$75.75 million.

Upon completion of the transaction, pre-closing Wize securityholders will receive one contingent value right (“CVR”) for each share of Wize held on the record date. Each CVR will entitle the holder to a pro rata share of any consideration that may be received in connection with Wize’s existing LO2A business, subject to transaction expenses and customary deductions as detailed in the CVR agreement.

Concurrently with the execution of the BIA, Wize entered into (i) a US$3.0 million Private Investment in Public Equity (“PIPE”) financing from various accredited investors, including Noam Danenberg, CEO of Wize, in exchange for 25 million shares of common stock of Wize at US$0.12 per share, which financing is expected to close simultaneously with and subject to the closing of the Cosmos transaction, and (ii) pre-bid acceptance agreements with several Cosmos shareholders holding 19.9% of the outstanding Cosmos shares who have agreed to accept the Offer.

Following completion of the transaction, it is expected that (i) the combined company will have approximately US$5 million in cash and cash equivalents, (ii) Cosmos will retain its experienced management team, with Cosmos’ CEO and founder James Manning assuming the role of CEO of the combined company, (iii) the Board of Directors of the combined company will consist of three members designated by Cosmos and one member designated by Wize, and (iv) the combined company will seek shareholder approval to be renamed Cosmos Capital, Inc. (or similar name), and to effect a reverse share split of the combined company’s common stock.

ZK International’s Subsidiary, xSigma Corporation, Completes its Smart Contract on the Heels of Bitcoin Hitting a High of $26,700 5218

ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN”, “ZK International” or the “Company”), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, is pleased to announce that xSigma Corporation, a wholly owned subsidiary of the Company, has completed the smart contract development of xSigma’s DeFi platform. This marks an important milestone for xSigma as it systematically builds out the ecosystem of the xSigma DeFi protocol.

xSigma’s smart contract has been completed and is undergoing a technology software audit, which is the last step for xSigma before it releases the project. The technology audit of the software is being conducted as good practice to ensure the safety of funds and the system in general. xSigma will offer enhanced rewards for early liquidity providers, who join in the first weeks after the launch. (Learn more about xSigma DeFi project on: https://xsigma.fi and Telegram: https://t.me/xsigma_global)

This is just the beginning of xSigma creating a new future, and it is a crucial step in building the xSigma ecosystem. The xSigma team is working on finalizing the white paper and all the technical details are to be released in the near future. As Bitcoin and other cryptocurrencies continue to gain momentum and hit all-time highs, which currently has a total market cap of $688.3 billion, xSigma management team believes that the top team of xSigma, support from a NASDAQ listed company, and a DeFi protocol which aims to be first in class, are significant characteristics which should elevate and differentiate xSigma from the other DeFi platforms.

The xSigma DeFi protocol has received a significant initial interest, in a short period as it has already gathered over 5,000 members in its communities and has collected thousands of subscriptions on its waitlist. In addition, xSigma has secured commitments from individuals and institutional liquidity providers which is important for a successful launch.

Mr. Jiancong Huang, Chairman and Chief Executive Officer of ZK International, stated, “as Bitcoin and other cryptocurrencies continue to gain momentum, so does xSigma. xSigma continues to build its ecosystem, and it continues to gain a positive response from the blockchain community for its DeFi protocol. Currently, over $9 billion is locked in just five Defi projects according to DeFi Pulse and the aim of xSigma Protocol is to reach the top 5 by the value locked list in 2021. Having former Google, Amazon, 1inch and Ripple engineers on the team, xSigma is well positioned to join the list of the biggest blockchain projects in the future.”

Signify Health Projects Growth with its Partners in the BPCI Advanced Program 6298

Signify Health, a leading value-based healthcare platform enabled by advanced analytics, technology and nationwide healthcare networks, today announced that its provider partners in the Center for Medicare and Medicaid Innovation (CMMI) Bundled Payment for Care Improvement Advanced (BPCI-A) program have selected a larger set of bundles to participate in for the remainder of the program (2021-2023) than they did in 2020. Signify Health’s experience and feedback from providers indicate that commitment to the program remains strong.

“The world has changed a lot since 2013 when a group of providers accepted CMMI’s invitation to try a radically different approach to better coordinate care and reduce expenditures while improving the quality of that care,” said Kyle Armbrester, Signify Health CEO. “Fast forward to today and these early pioneers are leaning in and fueling the next phase of growth with new entrants, including commercial plans and employers. Thanks to CMMI’s work to lay the foundation, we have a proven model that both government and commercial payors can use to accelerate the transformation from fee-for-service to value-based care.”

As a risk-sharing convener in the BPCI-A program, Signify Health partners with Acute Care Hospitals (ACHs) and Physician Group Practices (PGPs) to facilitate collaboration among providers sharing accountability for improving outcomes. As episodes of care continue to take hold in public and private value-based health programs, Signify anticipates the total volume of medical care managed through bundles will accelerate.

In a significant change from prior years for the remainder of the BPCI-A program, CMMI required participants to select from eight categories of care, referred to as clinical service line groupings, that each include multiple bundles. Overall, Signify’s provider partners selected more clinical bundles under the new requirement, assuming a greater amount of financial risk while ensuring that patients continue to receive high-quality care.

Once bundles are selected, Signify Health’s team works with providers to prevent adverse events, improve care quality, eliminate excess cost, and propel patient recovery homeward by applying a model that addresses patients’ holistic clinical, social, and behavioral needs. And, by providing sophisticated analytics, modeling and deep local market insights, Signify supports BPCI-A participants’ care redesign efforts to improve a patient’s care journey from hospital discharge to home.

To further inform the future of episode of care payment programs in Medicare, Signify Health recently engaged Leavitt Partners to convene an independent panel of health policy experts to offer policy recommendations that strengthen and expand these models. The recommendations emanating from this advisory process will be made publicly available in the first quarter of 2021.

“For voluntary alternative payment programs to be successful, they must attract as many participants as possible,” added Armbrester. “We believe that policies that minimize uncertainty and offer pricing stability for providers accepting financial risk are critical to the program’s continued and long-term success.”