#CryptoCorner: OKEx Developing #Blockchain, Binance Partners with IdentityMind for Compliance and Data Security and Bing (NASDAQ: MSFT) Blocked 5 Million #Crypto Ads in 2018
#CryptoCorner: OKEx Developing #Blockchain,
Binance Partners with IdentityMind for Compliance and Data Security and Bing
(NASDAQ: MSFT) Blocked 5 Million #Crypto Ads in 2018
Point Roberts WA, Delta BC, March 26, 2019 - Investorideas.com, a leader
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March
26
Crypto Corner
OKEx Developing Blockchain, Bitmain
Announces New CEO Following IPO Expiry, Binance Partners with IdentityMind for
Compliance and Data Security and Bing Blocked 5 Million Crypto Ads in 2018
Stocks discussed: (NasdaqGS:MSFT)
According to a
recently published blog
post,
crypto exchange OKEx has been developing its own blockchain, which will be
called OKChain. The chain’s native utility token, OKB, will be able to be used
for transaction fees and Dapps developed on the chain. The development team has
decided to put OKB on the ERC-20 blockchain at first, but it will migrate to
the OKChain mainnet once it is deemed stable.
With mining giant
Bitmain’s IPO application having lapsed as of yesterday, the company published
an announcement today indicating
that Haichao Wang has been named as the new CEO after co-founders Jihan Wu and
Micree Zhan stepped down months ago. Addressing the IPO application with HKEX,
the announcement makes clear that Bitmain’s listing ambition has not
disappeared.
Bitmain’s listing application to HKex in
September 2018 has reached its 6-month expiration date. We do recognize that
despite the huge potential of the cryptocurrency and blockchain industry, it
remains a relatively young industry which is proving its value. We hope
regulatory authorities, media, and the general public can be more inclusive to
this young industry. We will restart the listing application work at an
appropriate time in the future.
CoinDesk reports that
Binance, the world’s largest crypto exchange, has partnered with Medici
Ventures portfolio firm IdentityMind to improve compliance and data security.
IdentityMind defends against fraud through know-your-customer (KYC) and
anti-money laundering (AML), and helps exchanges with client onboarding,
transaction monitoring and case management solution. IdentityMind CEO and
president Garrett Gafke said:
“Our risk and compliance platform powered
by a patented digital identities engine meet the scale demands of Binance’s
global operations while providing a highly accurate system for assessing any
global risk factors from outside entities for transactions.”
According to a review published
yesterday, Microsoft’s (NasdaqGS:MSFT) search engine Bing blocked over
5 million cryptocurrency-related ads in 2018. The report reads:
Cryptocurrency as an asset class saw a bull
run in 2018, increasing valuations multi-fold. The high returns and volatility
of cryptocurrencies invited a lot of interest from retail investors and
speculators looking to make a quick return. There wasn't much regulatory
oversight, and the overall pseudo-anonymity built into currencies like bitcoin
made cryptocurrency a prime target for fraudsters and scam artists to defraud end-users.
Bing Ads therefore decided to ban cryptocurrency content from our advertising
platform and blocked more than 5 million
ads containing cryptocurrency content.
Sam Mowers, Investorideas
Read other editions of the Crypto Corner
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