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[DynaQuest] Enterprise Blockchain Awards 2020: An Inspiring and Energizing Event

Much like the 2019 edition of the Enterprise Blockchain Awards, the 2020 edition was something different but still innovative.

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Last week, I had the privilege of attending the Enterprise Blockchain Awards 2020 that is organized by Blockchain Revolution Global. It is an event that recognizes and celebrates the pioneering spirit of the people who are pioneering the transformative effect of Blockchain that transcends business and industries; and encompasses societal development within human identities, human rights, financial inclusion and the liveability of the cities of tomorrow.

Much like the 2019 edition of the Enterprise Blockchain Awards, the 2020 edition was something different but still innovative. Initially planned to be held in the city of Toronto, Ontario, during the summer months of July, suffered an indefinite delay due to the pandemic that swept the world. True to the spirit of innovation amidst disruption, the 2020 Enterprise Blockchain Awards was held virtually and let me say that the virtual effects of the stream was a futuristic experience. Media production and CGI virtual quality effects specialist ARTH media and in special collaboration of the MCI Group and Blockchain Research Institute, delivered a virtual gala like none other. The transition of the hosts, the interim special effects bridging each award category section all play a huge part in the virtual reality like experience of the gala.

I would like to extend my applause to the lively hosts Mr Don and Alex Tapscott and Ms Catherine Clark for their warm reception and orchestration of the event.

As a summary, below are the Winners of the Enterprise Blockchain Awards 2020 presented by Blockchain Research Institute:

Enterprise Blockchain Transformation

  • Financial Services Award – Provenance, for revolutionizing the way assets are issued, traded and accessed globally over the Blockchain
  • Industry Solutions Award –Care, for redefining healthcare access, control, administration, and waste reduction under Blockchain
  • Technology & Platforms Award – IBM Blockchain, for solving major business challenges with a platform made for a multi-cloud world.

Innovative Entrepreneurship in Blockchain

  • Industry Solutions Award – BurstIQ, a leading provider of blockchain-enabled data network solutions for the healthcare industry.
  • Supply Chain Applications Award – Chainyard, for developing blockchain services and solutions to help businesses to participate in a decentralized ecosystem.
  • Technology & Platforms Award – Workwolf, for creating value for companies by reducing friction in the hiring and talent verification process.

Blockchain Leadership

  • Ecosystem Award – Victoria Lemieux from the University of British Columbia, a top university researcher and founder of a multidisciplinary research cluster on blockchain.
  • Enterprise Award – Marley Gray from Microsoft, a principal architect for Microsoft’s cloud-based blockchain engineering team and a champion of blockchain technology standards.
  • Entrepreneurship Award – Laura Bailey from Qadre, a trailblazer for women in fintech. Pushing the boundaries in blockchain technology to modernize financial markets and supply chains.

New Frontier in Blockchain Research

  • Academic Award – Atefeh Mashatan, a leading researcher in blockchain for cybersecurity applications.
  • Enterprise Award – Fujitsu, for their innovative technology enabling safe ID information exchange in the digital world.

Months back, I was very ecstatic when I learned that DynaQuest and I were chosen among the finalist for the Blockchain Leadership: Entrepreneurship award. My team and I, are proud to represent the Philippines in the EBA2020, as a Blockchain provider based and raised in the Philippines. The event, to be in the company of the movers and pioneers of Blockchain, is a humbling and reinvigorating experience. Considering that the pandemic has disrupted and put on halt the world for a number of months, the event has given me more insight on the passionate people that are trailblazing the pioneering spirit for Blockchain technology. They are the vanguards for the meaningful changes being brought by the technology.

Overall, Blockchain is here and now, there are people who are innately passionate in bringing the technology to positively disrupt the existing status quo. Like others, DynaQuest and I, are working hard to bring Digital Identities to the Blockchain. We aspire to the vision of an inclusive, globally-connected local economies that are transformative to their economic performance and transformative to the people, in the sense that financial and social inclusion are being championed by Blockchain.

About the Author:

Randy Knutson
Randy is the Founder & CEO of DynaQuest Technology Services Inc., an award-winning provider of innovative Blockchain solutions. He is a Certified Blockchain Expert and seasoned veteran with over 35 years of technology experience, ranging from start-ups to multi-national companies as CIO and CTO. His passion is creating digital solutions that yield inclusive, sustainable and economic development for communities are underserved, left behind or forgotten.

Source: https://bitpinas.com/feature/dynaquest-enterprise-blockchain-awards-2020-inspiring-energizing-event/

Blockchain

CBOE files to list Van Eck’s proposed Bitcoin ETF

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Globally leading exchange holding company, Chicago Board Options Exchange, or CBOE, has filed to list the Bitcoin exchange-traded fund proposed by asset manager, Van Eck.

CBOE filed a Form 19b-4 requesting permission to list the ETF from the U.S. Securities and Exchange Commission on Jan. 3. In the form, CBOE emphasizes the benefits an ETF would offer to retail investors over the spot Bitcoin markets, including custody:

“Exposure to bitcoin through an ETP also presents certain advantages for retail investors compared to buying spot bitcoin directly. The most notable advantage is the use of the Custodian to custody the Trust’s bitcoin assets.”

While CBOE did not reveal who its custodian is, the document notes its custodian is “a trust company chartered and regulated by [the New York Department of Financial Services].”

Once the SEC has formally acknowledged it is reviewing the application, the regulator has 45 days to deliver its verdict or extend the assessment deadline. The SEC can extend its deliberation period for up to 240 days before finalizing its decision.

If approved, the ETF would be the first crypto product offered by CBOE since February 2019, with CBOE having then ceased offering Bitcoin futures contracts. In December 2017, CBOE became the first regulated financial institution in the United States to offer Bitcoin futures contracts, beating out the Chicago Mercantile Exchange by just a couple of weeks.

In January, Van Eck filed for SEC approval of a Bitcoin ETF. While Van Eck had previously filed for a BItcoin ETF in 2017, the firm also teamed up with SolidX — a blockchain firm that had been attempting to bring a Bitcoin ETF to market since 2015 — to file for a jointly issued ETF in 2018. The joint application was withdrawn in September 2019, with the two firms parting ways shortly after.

However, Van Eck’s latest filing has become the subject of a lawsuit from SolidX, who alleges Van Eck plagiarized their product.

Van Eck also filed for an ETF tracking the performance of prominent crypto firms on Jan. 21. The product would seek the price and performance of the Global Digital Asset Equity Index — which is run by its subsidiary MV Index Solutions.

As of this writing, the SEC is yet to approve any crypto ETF product.

Source: https://cointelegraph.com/news/cboe-files-to-list-van-eck-s-proposed-bitcoin-etf

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Coinbase custodies 11% of entire crypto capitalization

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Crypto data aggregator Messari has reported that the quantity of crypto assets stored in custody on U.S. exchange giant Coinbase surged in the last quarter of 2020.

Messari Crypto has revealed that as much as 11% of the entire crypto market capitalization was held with Coinbase custody at the end of last year. The Coinbase offers custody services for over 90 crypto assets, roughly half of which are tradable on Coinbase’s exchange.

The value of assets custodied with Coinbase spiked to roughly $90 billion in the fourth quarter of 2020 as the combined crypto capitalization more than doubled to tag $780 billion by 2021.

Despite the wide variety of assets supported by Coinbase Custody, Messari found that Bitcoin and Ethereum account for 83% of the cryptocurrency held with Coinbase.

While Bitcoin consistently represented 70% of the assets custodied with Coinbase during 2019 and 2020, Ethereum increased from 9% to 13% over the same period.

The findings were published in a report examining Coinbase’s anticipated public listing that was compiled by Messari researcher Mira Christanto.

Christanto reported that 95% of Coinbase trading revenues are from retail clients, who pay 30 times more than institutional customers. She also noted a pre-IPO valuation at 7% of the total crypto market cap which would equate to around $107 billion according to the sector’s current market cap of $1.54 trillion.

According to the S-1 report Coinbase submitted to the Securities and Exchange Commission on Feb. 25, the exchange posted a direct revenue of $1.1 billion in 2020 mostly from trading fees.

In a Feb. 25 blog post to its clients, Coinbase revealed that Bitcoin and other crypto assets have comprised a major share of its corporate treasury since the company’s founding back in 2012.

Source: https://cointelegraph.com/news/coinbase-custodies-11-of-entire-crypto-capitalization

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Leverage traders ‘flushed out’ by late-February crypto crash: Glassnode

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According to on-chain analytics provider, Glassnode, the late-February crypto market correction may have purged excessive leverage from the markets.

On March 1, Glassnode published a report analyzing the recent crypto crash — which was only the second significant crypto correction since the markets pushed into new record highs in late 2020.

Glassnodenoted the crash peaked with a 25% fall from the local top of $58,300 to $43,343. As such, the move was weaker than January’s dip which saw a roughly 30% retracement from $42,000 to less than $30,000.

The analytics provider suggested that these pullbacks are positive for the crypto markets overall, attributing the latest correction to liquidated leveraged positions held by risky speculators:

“Significant market corrections are positive events in that they flush out speculation, leverage, weak hands, and test holder conviction.”

The report added that several key market indicators were reset as BTC prices found fresh support, including futures open interest, futures funding rates, and the price premium for Grayscale’s investment products.

Futures open interest, which is the total number of outstanding contracts that have not been settled, dropped almost $4 billion or 22% from its peak of $18.4 billion. Glassnode also commented noted perpetual futures funding rates have also reset close to zero, which could indicate that traders are not willing to enter short positions, stating:

“Previous combinations of decreasing open interest and a reset of funding rates have indicated a flush in speculative trading has occurred.”

However, the report did note that open interest is still hovering roughly $2.5 billion above the previous peak of $3.9 billion on Feb. 21 — meaning there is still significant leverage within the market.

Glassnode also noted that shares in Grayscale’s Bitcoin Trust are trading at a discount compared to spot market prices for the first time ever, with investors paying a nearly 4% discount to access exposure to BTC through Grayscale’s trust.

It added that competing products such as Canada’s Purpose ETF could diminish Grayscale’s premium as more institutional products enter the market and close arbitrage opportunities.

At the time of writing, Bitcoin prices were up 5.3% over the past 24 hours, with BTC currently changing hands for $49,200.

Source: https://cointelegraph.com/news/leverage-traders-flushed-out-by-late-february-crypto-crash-glassnode

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