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According to the new orders of Massachusetts, the state has halted five ICOs (Initial Coin Offerings) as it stated, that the firms behind them were selling unregistered securities.

Crypto ICO News

The officials of government found that they all of these companies defied the General Laws of the state, which describe securities as bonds, investment contracts and stocks, that assures a financial profit, as it’s clearly defined in the orders. This stoppage was a part of a bigger inquiry into token sales that are being conducted by the government of the state.

ICO world

Investigation Against Companies Selling Unregistered Securities

On Tuesday, after investigating each of the company, William Galvin (Massachusetts Secretary of State) has ordered 18moons, through platforms like Sparkco, Mattervest, and Pink Ribbon, to stop their ICO campaigns. Moreover, all of these companies are required to propose, in order to return funds to their investors within the period of 30 days. Additionally, the companies would have extra 45 days to return the funds.

According to the records, a list of all refunded investors who have paid back the company has to be provided by the startups as well. Despite the fact that the orders highlighted, that the campaigns will be permanently halted and won’t be allowed to sell unregistered or non-released securities within the Massachusetts state, still, all startups will have the ability to register its tokens as securities in the future.

On the other hand, companies that are under- investigation, according to the orders, these companies will be suspended until they completely follow the orders. Though, if any company fails to obey any of the terms in the Division’s Order, then a legal action will be taken by the Enforcement Section.

No Response from Companies

The companies haven’t commented or responded to any of the questions so far. The head of SEC, Jay Clayton wanted cryptocurrencies to be regulated just like regular securities, as there was a possibility that at least few of the state officials would settle on it. But still, the doubt exists that there are many bandwagoners in the ICO world who don’t comprehend very much about the financial regulation.

Such moves can solely do so much, especially when there aren’t plenty of guidelines surrounding ICOs, however, they can lead some of the companies to have a second thought before hastening.

The latest step of Massachusetts on the ICO front is represented by its advancement and progress. At the beginning of this year, a suit was filed by the state against an ICO director and his company, claiming that the token sale represents an unregistered security offering.

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What are the Top Blockchain Trends in 2017?

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Top trend in 2017

By creating its own entity and reputation blockchain finally enter to the typical awareness in 2017. No doubt, blockchain has the capacity to change industrial operating models. Whereas, the distributed ledger industry grew up throughout the year. However, most of the companies are still stuck in survey phase. In addition, are unable to bring fascination into the reality because they are charmed by its beauty.

The primary application is still in banking. 15% of the banks have the plan to put blockchain into the commercial production by 2017.  Whereas, 91% of banks are investing in blockchain technology. The world economic forum estimates that 80% of banks are actively working on blockchain technology.

Technology is evolving, $1.4bn invested in blockchain technology startups across different sectors. Whereas, it is not only financing that blockchain is set to disrupt.

Investor look more use cases

Funding to blockchain increases day by day. According to the latest report of KMPG and GB, plus of fintech Q3 ‘16’ investment of this technology fell to $87 million in the third quarter of 2016. $119 in the second quarter and $153 in the first quarter. This is expected thatThe fall specifies that investors are beginning to grow anxious that exploration is not translating into action. In addition, excitement remains the same, this is what the report said.

The report says, ‘To-date, however, the ability to move blockchain from proof-of-concept to adoption and production has been minimal. While the market is still giving blockchain companies plenty of room to prove themselves. Investors are also becoming more concerned about results’. In addition, ‘Over the next year, investors will make more rational assessments of where the main use cases associated with fintech are and how long it will be before they are implementable.’

Growth in Asia

In North, Asia blockchain has received more attentions as compare to other. Where a number of the financial institutions are investing in blockchain related projects. In China, with record breaking of fintech investment, increases for each of the past four quarters. And, there is still a room for growth in Asia in 2017. Accordingly, KPMG China’s fintech investor and innovation partner say that investor is still interested in investment. Not only in massive rounds CV investors are investing in small blockchain technology companies in Asia. Few of them companies are at the second or third round of funding. These small projects are starting to lead the large investment. A Chinese investor has made an investment of $1.7 million for Taiwanese startup Bitmark. A trend may continue in next year.

Outside finance     

Companies like Uber and Airbnb provide the services by linking consumers with their needs. They are still playing the role of the middle person. Accordingly, they still take a cut. Whereas, blockchain is entirely different from all this. It has the ability to remove the middle person from needs and its satisfactions. Which clearly means that someone needs take their full dues.

For example, arcade city is the new ride-sharing app that connects the customers with drivers by using Ethereum blockchain. Christopher David, Arcade city’s driver, a former Uber driver says that ‘The Achilles’ heel of Uber and Lyft is their centralized management of pricing. By decentralizing that decision to the level of the driver and rider, Arcade City frees the driver to be an entrepreneur and empowers the rider with control over their entire experience. Both drivers and riders are loving it so far’. May of this year, Arcade city become first in blockchain startup at GTEC awards.

In the same way, blockchain allows an artist to upload, sell or market their work without any middle authority. Edith Suarez of CNN discuss about the blockchain transparency, which other platforms failed to provide, ‘Music is placed in the decentralized server, then each song is embedded with a piece of code (meta information) […] [When people download] a track with a cryptocurrency, a payment is automatically sent to anyone involved, be it the writer, the producer, the singer, as well as many others.’’

Government’s involvement

Now, government and establishment fail to maintain their trust in the public. In that scenario, public related information should be held in transparent easily available manner. Where anyone will have the ability to verify the ledger and also have the copies of that data.

Most of the countries in the world want to move their currencies to blockchain trend. And, they are also exploring the other areas of the government. A prominent example of this year is, Governor Jack Markell, announce two blockchain initiatives. Whereas, Estonia use the blockchain technology to enhance an e-residency program. In addition, anyone from anywhere in the world can apply to become e-resident of Estonia.

Environment takes shape   

In 2016 Japan’s legislatures pass a bill to regulate bitcoin in a country. Furthermore, with the adoption and popularity of bitcoin, they have a plan to focus on security and other risk issues. While regulators are trying to provide a transparent system. Not only Japan is starting working on digital world but US, South Korea and many more countries trying to provide a transparent system to the public.

Education and collaboration

Education is the biggest challenge while blockchain is still new in market trends. There are security issues, companies must not put off or panic if proof of concept does not reveal themselves immediately. They are going to improve their work and understandings with other companies. Early adopters of any technology get benefits. That is why organizations need to know how they can use blockchain technology as soon as possible.

Good luck!

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$250,000! – Binance Announces Bounty for The Arrest of Hackers

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After the incident of Binance hack, which took place on 7th March, $250,000 are now being offered by the cryptocurrency exchange, “Binance” for arresting the hackers who were involved in the incident. This was announced by Binance on 11th March 2018.

The first person who would give any information about the incident, that’d result in a legal arrest of the hacker will be given the bounty in Binance Coin (BNB), which could be used on the Binance exchange and could be traded as well. According to the announcement, if they find various sources of information related to the Binance hack, that could lead them to the final arrests, then they’d probably divide the bounty between sources.

binance hacked

Binance highlights the importance of an intensive effort to deal with the crime and immoral behaviour in the crypto-community by stating;

“To ensure a safe crypto community, we can’t simply play defense. We need to actively prevent any instances of hacking before they occur, as well as follow through after-the-fact. Even though the hacking attempt against Binance on March 7th was not successful, it was clear it was a large-scale, organized effort. This needs to be addressed.”

$10 million has been allotted by Binance in cryptocurrency funds for the upcoming bounty rewards against any kind of hacking on the Binance exchange. In addition to that, other exchanges from all around the world have been also invited by Binance exchange, according to every Binance statement to follow suit, as they added;

binance hacked

“Protecting your funds is and has always been our highest priority!”

After perceiving unauthorized and irregular transaction activities in the accounts, users notified Binance that their security is being violated. The meticulous way how the hackers used the site still remains unclear, even though on 8th March, trading activities of Binance were resumed. Many users have speculated that compromised API keys is the only reason that could explain how the hackers evaded Binance’s two-factor verification system.

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A Brief Look Into NeoCoin – China’s Biggest Cryptocurrency

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In late June 2017, Antshares declared that they were rebranding. and less than a month later, NEO was born and turned into China’s most popular cypto overnight. The rebranding totally redesigned Antshares’ social media, technical data, website, and blockchain nodes.

Bitcoin vs other cryptocurrencies:

Then after a couple months later, Antshares – now named NEO – outperformed Litecoin, Bitcoin Cash, and Ripple, growing over 3,053% every month. As of August 19 – NEO went back to the ninth place on the digital currency charts, losing 90% of its expansion. However, the NEO devotees trust this is just the start for what is termed as “Chinese Ethereum,” some are stating that by the end of September, NEO will become number one on the crypto charts.

At the time of writing, Neo was trading at $42.92 per coin.

Proof Of Work:

NEO showcases more POW (Proof-Of-Work) than any other crypto out there. The effortlessness, the 15-second exchange time and the simple to utilize Smart Contract has aided NEO to detonate in China. There are more than 50 renowned organizations that are intending to embrace NEO’s innovation in China. Compared to Ethereum, NEO has accomplished more in terms of a “Quick Witted Economy.”

While NEO is principally cruising in China cryptocurrency, the friendly developer software can make it immense in the west too. Ethereum – while having an elegantly composed code – doesn’t have as much POW as NEO.

Read more: Why Bitcoin Rose More than $1000 in the Last Two Months

What Is Neo Transaction Time?

NEO can deal with numerous transactions through its Smart Contracts. It’s 15 seconds quicker than Bitcoin and 5 seconds speedier than Litecoin. While NEO doesn’t have the standard reputation like Bitcoin or Litecoin, NEO’s reputation in China Bitcoin keeps on developing. It’s being known as the “Smart Startup Trent,” in China, since, the local startups are embracing NEO at a snappy rate.

Additionally, it has front end uses like Digital wallets, voting, forums, and profile management. The organizer of NEO – Da Hong Fei – calls it the ultimate “developer coin.”

NEO Coin In Next 10 Years:

Up until now, Da Hong Fei has unveiled different plans for what’s to come. Da Hong Fei is anticipating on implementing the Catalyst Award Framework to reward miners for mining NEO. Likewise, he plans on creating an environment that will be crowd funding friendly within the NEO community. Investing in NEO, however, has its own risks, similar to any other cryptocurrency out there isn’t any organization managing it to guarantee you a safe investment.

Make sure you have done your research before putting your resources into the currency.

Read more: Monero Security – 3 Main Techniques Behind Monero Anonymity Explained

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