Nash Prepares to Launch Beta Version of Decentralized Exchange

With a mission of “bringing distributed finance to everyone,” five open-source blockchain developers have come together to form a distributed finance platform using blockchain technology that allows for decentralized and non-custodial cryptocurrency trading. Established in 2017, founders Fabio Canesin, Fabian Wahle, Ethan Fast, Thomas Saunders, and Luciano Engel built Nash as an integrated financial services platform in which users could invest, trade, and make payments with digital assets. All five founders of Nash were also behind the City of Zion open-source community and continue to develop key infrastructure for the…

Inside Monero’s ‘Last Ditch Effort’ to Block Crypto Mining ASICs

Developers behind the cryptocurrency monero are ramping up efforts to keep specialized mining hardware from dominating its race for rewards. Of the coins that have a strong privacy focus, monero – launched in 2014 – possesses the largest market capitalization by far with an estimated $1.5 billion valuation. The annual mining rewards generated by the now 5-year-old blockchain total roughly $62 million, according to data site Messari. But such rewards appear to be increasingly falling into the hands of ASIC operators, nudging out smaller, independent or hobbyist participants. To keep…

CryptoCompare Launches Benchmark Rankings for Exchanges

Cryptocurrency data and indices provider CryptoCompare is working to make it easier to spot good, and bad, crypto exchanges. Announced Wednesday, the company has launched a benchmark ranking of over 100 active spot exchanges from across the globe, offering users a “comprehensive, granular and reliable source of information on the best trading venues.” CryptoCompare’s Exchange Benchmark was launched to address the need for reliable metrics to evaluate the large number of cryptocurrency exchanges now offering services around the world. The firm explains: “Employing both a qualitative (due diligence) and quantitative…

Former US Senator Rick Santorum Supports New Crypto for Catholics

Former US Senator, neologism, and noted Catholic, Rick Santorum, has come out in support of Cathio, a for-profit organization that will “provide efficient, secure, and transparent movement of funds within the Catholic world.” From a release: “Cathio’s platform is designed to enable all sectors of the Catholic economy to benefit from lower costs and transparent payments,” said Cathio CEO Matthew Marcolini. Former Ambassador to the Holy See and Cathio Advisor Jim Nicholson stated, “The Church is living in a time of great challenges with the laity asking, ‘What can we…

Insurer L&G Uses Amazon Blockchain Service for Pension Deals

A U.K. insurer has turned to Amazon’s services to launch what it claims is the first blockchain system for bulk pension deals. According to a Reuters report Wednesday, Legal & General, a U.K.based multinational financial services company, has said it will use Amazon Web Services’ (AWS) managed blockchain system to manage and record bulk annuities for its insurance business. Bulk annuities are defined benefit pensions schemes sold by companies to insurers to mitigate risks to policy holders and to free themselves from the cost burden. For now, AWS’ blockchain platform will be used for…

IBM, Maersk’s Blockchain Platform TradeLens Is Shipping to Russia

A blockchain-powered platform built by IBM and Maersk and designed to facilitate international trade is to launch in Russia. According to a June 6 news release from Maersk, the Danish shipping and logistics giant, agreement has been reached with Russian authorities for the TradeLens platform to operate in the country, starting with a pilot project alongside the country’s primary container gateway, the port of St. Petersburg. TradeLens allows container logistics industry participants to have a shared view of shipping transaction data, with member firms acting as nodes to support the blockchain system. With the…

Brazil’s President Rebuffs Cryptocurrency as Administration Explores Blockchain

Brazil’s President, Jair Bolsonaro, has come out publicly in opposition to bitcoin. In an interview aired on national television, the Brazilian president commented on cryptocurrency being used to bank indigenous people in Brazil. During a conversation centered on the challenges of his new presidency, Bolsonaro talked about projects created by his predecessor’s administration. One of the efforts was a $11.5 million project that aimed to create an “indigenous cryptocurrency”. “We are cutting expenses. We were about to use 40 million Reales to teach natives to use bitcoin,” he said. In…

Napster Founder’s IoT Startup to Go Crypto With $15 Million Series C

An internet-of-things (IoT) startup founded in 2013 is adding tokens to its business model with the backing of two of crypto’s best-known funders. Helium announced Wednesday a $15 million Series C co-led by Union Square Ventures and Multicoin Capital. Investors will acquire equity in Helium as well as a share of the tokens that will accrue to the company over the next several years as they are minted, after its bespoke blockchain goes live, according to a spokesperson. Previous investors that participated in the latest round included Khosla Ventures, GV (formerly Google…

Tezos Foundation Snags Former PwC Blockchain Expert As CFO

Tezos Foundation, a non-profit, educational wing of the smart contract and Dapp platform, announced Roman Schnider, co-creator of PricewaterhouseCoopers Switzerland’s blockchain initiative, to supercede Eelco Fiole as Chief Financial Officer. Schnider’s appointment to the Zug based firm will begin summer 2019, about six months after investment executive and adjunct professor of financial ethics Fiole filled the position. Fiole was hired during a period of executive expansion, which Tezos President Ryan Jesperson called at the time, “an important step forward by strengthening its internal expertise and capabilities.” A leader within the…

Power Move Before Power Lunch: Tron CEO Switches Venue for Buffett Meeting

Tron CEO Justin Sun is moving his $4.6 million lunch date with Warren Buffett to “the heartland of tech” aka Silicon Valley. This is the first time since the annual “power lunch” tradition started in 2000 that the meal will take place in San Francisco. “We want this lunch to be a bridge between the cryptocurrency community and the traditional investor,” Sun said to Yahoo Finance on Monday, who is trying to draw Buffett out of his comfort zone. Indeed, the traditional investor is as conservative in taste as in…