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iSignthis Supplementary Report Provides Insight into Visa Issues

Clayton Utz has taken a look into iSignthis’ disclosures regarding Visa.

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iSignthis (ASX:ISX), a payments identity company, has published the Supplementary Independent Expert Report by Clayton Utz regarding the suspension and termination of the arrangements between ISX and Visa.

As Finance Magnates reported, on the 16th of July 2020, Clayton Utz published its Independent Expert Report, as ordered by the Australian Securities Exchange (ASX). The review found that whilst iSignthis is “largely compliant with the Regulatory Recommendations” it did identify a number of areas where the company could improve in regards to Listing Rule 3.1, which covers Continuous Disclosures.

The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation

In the supplementary report, dated on the 4th of September 2020 and published via the ASX earlier this week on Monday, Clayton Utz has taken a look into iSignthis’ disclosures regarding Visa.

iSignthis: report vindicates our position

According to a statement from ISX today, the report “vindicates the position adopted by ISX in relation to disclosure of its dispute with Visa” and “ends ASX’s baseless campaign to portray ISX as non-compliant with the continuous disclosure regime”.

Taking a look at the report, Clayton Utz outlines that iSignthis received a formal response from the European regulator, the Central Bank of Cyprus, on Thursday, the 21st of May, that its arrangements with Visa had been terminated.

iSignthis then sought to formally announce the termination to the market via a letter to shareholders dated on Sunday, the 24th of May 2020. This was released by the ASX to the market the next day, on the 25th of May 2020.

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ISX delay was a technical breach of ASX Listing Rule 3.1

In summary, Clayton Utz said in its report: “We therefore consider that there was a technical breach of the ASX Listing Rule 3.1 arising from this delay… However, we also observe that given trading in ISX’s shares was suspended during this period, ISX did not have the ability to use a trading halt to assist it to manage its continuous disclosure obligations, which it may have otherwise done…”

John Karantzis iSignthis (ISX)
John Karantzis – CEO of iSignthis

Speaking to Finance Magnates, the CEO of iSignthis, John Karantzis said: “The supplementary independent expert report on iSignthis’ continuous disclosure further demonstrates that ISX adheres to best practice. Dealing with complex regulatory matters across multiple timezones is never straight forward, and in particular when the matter is likely to result in litigation or regulatory intervention. 

“iSignthis and Visa have been arguing over Visa network access and termination since April following spurious claims about how iSignthis runs its e-money business and amid hostile press briefings.

“iSignthis had been given a clean bill of health by financial intelligence units and independent audits, and Visa’s actions were designed to protect its own position, not that of consumers. 

“Visa’s anticompetitive conduct and its new rules for “digital wallet operators” are already the subject of a European Commission Directorate General of Competition investigation.”

ASX declined to comment.

Source: https://www.financemagnates.com/fintech/payments/isignthis-supplementary-report-provides-insight-into-visa-issues/

Blockchain

Bitcoin Halving: Definitive Guide (In Just 5 Minutes)

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Bitcoin halving is often referred to as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.

Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

The process of halvening started in the year 2012, approximately after 4 years of the invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.

After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.

The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.

Investors from all over the world are excited and waiting for the Bitcoin price to increase, and the demand for bitcoins in the online gambling industry is high. Bitcoins are widely accepted at Bitcoin Casinos as they collect deposits in the form of cryptocurrency from their players.

To know the overview of Bitcoin Halving (Just in minutes), check out the following infographic developed by Abishai James at WinBTC.net in partnership with ACMarket.

bitcoin halving
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Santiment Reveals Top 10 Ethereum Projects by Developer Activity

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Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.

The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.

The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.

The Ethereum Project Top Ten

At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.

Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.

Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.

Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.

DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.

Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.

“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”

DeFi Dominates

These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.

Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.

Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.

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Source: https://cryptopotato.com/santiment-reveals-top-10-ethereum-projects-by-developer-activity/

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Blockchain in Sports Betting

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Wanna enter the Sports betting industry? Are you worried about the transactional data, security and entry charges?

Just relax and lean on to your chair. The amazing features of blockchain technology have reshaped the sports betting industry. It enhances safe and secure transactions as it is an open source decentralized network.

Basically, blockchain offers tremendous features like transparency, fast payouts, speedy transactions, independent in nature, etc. The most effective feature is the player’s account will not be restricted or blocked either personally or professionally  due to extreme winnings.

Blockchain is the most prominent technology ruling today’s betting industry. It’s advancement in the sports industry has laid a pavement for its enormous growth in recent times.

To get detailed information, checkout the following Infographic developed by WinBTC.net in Partnership with MrBet.me.uk.

Blockchain In Sports Betting Infographic
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