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Will New SEC Regulation Shut Down ICOs? Munchee Forced To Abort ICO
CCN With $2billion raised in ICOs so far this year, it is not surprising that regulatory bodies are not only looking hard at the products and companies, but they are now starting to step in and test the veracity and legality of crypto fundraising. The U.S. Securities and Exchange Commission (SEC) recently formed a Cyber Unit to fulfil this task. Last month it filed fraud charges against PlexCoin and it also forced Munchee, a distributed restaurant review ecosystem on the blockchain, to abort its ICO. Earlier in the month, as a result of the SEC Cyber Unit’s warning to Munchee, the ICO was cancelled. It had only run for two days and had attracted 40 investors. On the Twitter account plans were been made to return funds as soon as possible as of November 2. Munchee had aimed to raise $15million to provide development, grow the management team and market the product. Now, the sale is stopped, investors refunded and despite tweets from November 2 saying the company hoped to relaunch the ICO, it has gone quiet; unless you count the filing of the ‘cease-and-desist’ papers by the SEC against Munchee yesterday. This action tallies with a statement made by […]
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The Difference Between A TGE And An ICO, Gabriele Giancola Explains More
CCN We find out more about loyalty programs on the Blockchain delivered by qiibee, a decentralized, Ethereum blockchain-based loyalty ecosystem. Its name, which is derived from qii for energy and bee for the one of the world’s most important insects, is not the only different thing about this company. It is also looking at a Token Generation Event (TGE) next year. A TGE is different from an ICO in legal terms according to co-founder and CEO Gabriele Giancola. Incorporated in Zug, the heart of the Crypto Valley outside Zurich, Giancola says that the Swiss like to keep things above board and that hosting a TGE is easier to run than an ICO and certainly it makes issues like regulation much more straightforward. Currently there is a hardcap of 70,000 ETH to be raised in Q2 of next year. The token is a qiibeePoint or QBX. qiibee is a classic example of a traditional technology solution pivoting onto the blockchain for two main reasons: scalable data capture and security. qiibee began life trying to solve the loyalty program platform. Giancola and his brother, both co founders, looked at the loyalty program space and saw a lot of problems. Loyalty Programs are […]
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The Crypto Valley Of Zug, Why Switzerland Is The Place To Be For Bitcoin, Ethereum And Blockchain Initiatives
CCN Coming to a city near you… At first glance it might seem an unusual choice for the hottest tech location in Europe, if not EMEA, but Zug, named for its fishing rights is both a town and canton in Switzerland and home to a little under 30,000 residents. It is an affluent area, a low tax region and a base for several multinational companies. In 2001, it first sparked to international recognition when a disgruntled gunman shot 15 people, including himself, in the Zug Cantonal Parliament in what became known as the Zug Massacre. This year, Zug was very much back in the news for quite different reasons. In January 2017 a not for profit organisation was formed: the Crypto Valley Association (CVA) headquartered in Zug and formed for the express purpose of attracting and supporting blockchain companies and organisations to Switzerland. Prior to the formal establishment of CVA, the Crypto Valley in Zug had been the brain child of Johann Grevers who based his cryptofinance startup Monetas in Zug in 2013. He outlined all sorts of positive reasons why Switzerland was attractive for blockchain companies and soon attracted broad support from numerous individuals, startups, corporates, service providers, industry […]
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Indorse – Spelling The End Of The Dishonest CV…
Just how do you know if what people claim in their CV is true? For a time, google seemed to deliver an endless source of data on other people. You could search for people online and see where they had worked. Then social media made it even easier to track people – or so it seemed. In the last few years prospective employees have been warned that when they attend interviews, the company looking to hire will include a trawl of their social media to see if what they say is true or to ascertain the calibre of the person. Of course there have already been cases where legal claims have been made against individuals abusing social media, but even harmless activities may be seen as detrimental to prospective employment. Applying to a company where the CEO is teetotal? Then perhaps don’t post those post party pictures on FB. Looking to work in a company that works in pet supplies? Perhaps posting pictures of you supporting the local hunt might not be so clever. The list is endless. However, while verifying your character online is one thing, verifying your career details is another. Most CVs have referees which a thorough […]
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Is Hashgraph The Solution To The Scaling Problems Faced By Bitcoin And Ethereum?
First published in CryptoCoin.News As Bitcoin and Ethereum continue to struggle with their scaling problems, an abundance of alternative high-throughput distributed ledgers are springing up, including EOS, IOTA, and many more. Hashgraph, developed by Swirlds, and hyped as one of the leading candidates to replace blockchain, has steadily being making ground in Dublin, albeit through a circuitous route. Conor O’Higgins, Public Relations Officer for Hashgraph in Dublin, had worked with Hashgraph co-founder Andrew Masanto back in 2008 in the world of digital marketing. They were not to meet again until O’Higgins visited Burning Man this year and bumped into his old friend. Burning Man is a hotbed of new thinking, and Masanto could not wait to introduce O’Higgins to the founder of Hashgraph, Dr Leemon Baird. “I’d used Bitcoin to pay for Burning Man, and was neck-deep in crypto, but I’d never heard of Hashgraph before,” says O’Higgins. “Andrew was eager for me to meet Leemon in San Francisco.” O’Higgins spent a day in San Francisco with the Hashgraph team, and was blown away by Dr Baird and the technology. He signed up there and then. O’Higgins is now masterminding the first Dublin meetup for Hashgraph enthusiasts, and is in […]
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