Crypto News, July 11 2018: Red Day

Highlights: TokenPay & LTC buy a bank, Ian Balina hack skepticism, PayPal makes a grave error, and a dose of happy Vitalik to brighten your day.

Partnership: TokenPay & LiteCoin

Source: TokenPay

TokenPay & LTC yesterday announced a “strategic” partnership. The announcement follows TokenPay’s acquisition of a portion of WEG Bank in Germany, giving them 10% ownership with an option to increase to 90% pending regulatory approval. The details of the partnership are somewhat unclear; the announcement mentions a variety of broad domains like “marketing” and “logistics” and cites a few specific cryptocurrencies and other digital financial products, but exactly what the partnership aims to accomplish isn’t explicitly stated.

Launch: Eden Dark Web Market

Source: Eden Market

The Eden Market, the “first truly decentralized” dark web blockchain marketplace, has launched. The network will reward token holders through dividends and provide access to the blockchain data through several “portals,” front-end web interfaces which can be launched and configured by any user of the service.

Malta Company Issues Stable Coin

Source: Stasis

Stasis, a blockchain company based in Malta, is launching its own stable coin. Essentially Tether for the EU, EURS is tied to the value of the EURO and includes three separate transparency and verification protocols. The company’s headquarters in Malta may lend it some additional credibility; as we’ve reported on in recent weeks, Malta continues to establish regulatory frameworks and guidelines for cryptocurrencies and other blockchain projects in the country.

Launch: Nuo Lend

Source: Nuo

The Nuo network, a financial blockchain platform, has launched the Nuo Lend service, offering Ethereum loans. Loans are facilitated and executed through smart contracts, enabling users to borrow ETH by staking any ERC20 token as collateral and allowing lenders to set interest rates.

Opera Browser Testing Built-In Crypto Wallet

Source: Opera

The Opera browser is currently holding a private beta to test a browser with a built-in crypto wallet. The wallet is compatible with Ethereum dapps and uses Android security features to control access to keys and assets, notably all at the discretion of the user. You can request an invite to the private beta at the source link above.

KBA Greenlights Exchanges

Source: Thenews.Asia

The Korean Blockchain Association (KBA), a group of blockchain companies with around 70 members, has announced that the 14 exchanges under review have met all of the regulatory requirements self-imposed by the association. This could potentially facilitate further onboarding of Korean banks.

South Korean Lawmakers Introduce Crypto Legislation

Source: Korea Times

Three different South Korean political parties have introduced cryptocurrency legislation bills since the nation announced it would begin classifying blockchain businesses as legal entities. The bills unsurprisingly take three very different positions and will likely require a decent amount of reconciliation before anything is passed. There is a policy debate scheduled for July 19, 2018.

Ian Balina’s “Hacked” Account Looks Active

Source: EtherScan | Twitter | Facebook

Ian Balina appears to be actively using an account he previously reported had been hacked, according to activity documented on EtherScan. In response to allegations, he claims that he bought in (QuarkChain being the ICO in question) before the hack and now cannot change his address - however, a Facebook post from a few days later seems to contradict this. In response to this, Ian points skeptics back to the blockchain to see for themselves, but offers no link to the transaction, which could easily verify his story.

Vitalik, when he asserted that Craig Wright was likely lying about being Satoshi, made a salient argument referencing signalling theory: if event [x] is easily provable - maybe by offering a link to a blockchain transaction - someone with the ability to prove it will simply do so, putting out a clear signal. Otherwise, expect lots of noise, like, say, in the forms of defensiveness, aggression, or insistent highlighting of supporting opinions.

Kin Developer Incentive Program

Source: Kin

Kin, the in-chat cryptocurrency for messaging app Kik, is launching a developer incentive program to integrate Kin with other systems and applications. Developers can apply for one of the 25 open positions and grants at the source link above. The deadline to apply is August 10th, 2018.

PayPal Is Dead Serious About Their Terms of Service

Source: BTCNN

If you’ve ever considered the sweet release of death as an effective debt-management strategy, PayPal cordially invites you to get rekt. In a letter addressed to the deceased, PayPal informed a dead woman that, by dying, she had breached her terms of agreement with the company. In response to such an egregious violation, PayPal authorized itself to “limit or restrict your ability to access credit,” a consequence which would surely have changed the deceased’s plans to stop existing had she been aware. In a final embarrassment, PayPal asserts that “this breach is not capable of remedy,” admittedly indicating at least a tenuous grasp of human biology, but also a shocking disregard for the possibility of a zombie apocalypse.

Vitalik Clapping

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Written content adapted by @thepinkfreudian.