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Venezuela says will pre-sell 'petro' cryptocurrency on Feb. 20; Facebook and Instagram bans

Venezuela says will pre-sell 'petro' cryptocurrency on Feb. 20

A pre-sale of Venezuela's new "petro" cryptocurrency will begin on Feb. 20, President Nicolas Maduro said on Tuesday, a move that the government hopes will help pull the country out of a dire economic crisis. Critics have slammed the initiative as not only illegal but nothing more than a debt issuance by the government amid quadruple-digit inflation and major shortages. Maduro has previously said Venezuela will issue 100 million tokens, each valued at — and backed by — the equivalent...

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Category: Cryptocurrency

Image & article ref: cnbc.com

Facebook and Instagram bans adverts for bitcoin, cryptocurrencies, initial coin offerings and binary options

Facebook is banning adverts for bitcoin and other cryptocurrencies just days after the UK's finance watchdog warned of scams online involving the digital currencies. The social media giant, which has more than 2bn users around the world, will also ban the promotion of financial products "frequently associated with misleading or deceptive promotional practices", including binary options and initial coin offerings (ICO). In an update to its ad policies, Facebook's product management director Rob Leathern said...

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Category: Cryptocurrency Ban

Image & article ref: cityam.com

This Startup Is Raising $3.5 Million To Add Machine Learning To Fish Farms

Machine learning and vision startup Aquabyte announced Tuesday that it has raised $3.5 million in seed funding in order to build out a team of developers to refine its software, which is geared toward using machine learning and vision to reduce costs for fish farming. The round was co-led by Costanoa Ventures and New Enterprise Associates. Princeton University and other investors also participated in the round. The main purpose of the round is to help the company build out a team to develop its technology...

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Category: Machine Learning

Image & article ref: forbes.com

Exploring The Future Of Retail In A World Powered By Blockchain

If you told me three or four years ago that the world would eventually (and perhaps soon) be powered by blockchain, I would have thought you were crazy. The technology’s sole purpose was to power Bitcoin—and even that wasn’t doing as well as many had hoped. Fast forward to 2017, and many would argue blockchain is on course to become the system that securely manages just about everything. Not the least of which: the world of retail. Some say blockchain will disrupt retail the same way online shopping did. I’d say that’s a bold statement...

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Category: Blockchain

Image & article ref: forbes.com

The insurance industry needs to embrace blockchain, starting now

In March 2017, the expression “financial inclusion” hit its peak popularity on Google. This is excellent news. There are over two billion unbanked individuals in the world today – people with no access to banking services. This is a global problem. In India, 19 per cent of the population – 1.2bn people – is unbanked, according to a joint Assocham-EY study, while 22 per cent of adults in Poland do not have a bank account. Financial services providers reward those who are already part of the system, and fail everyone else.

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Category: Blockchain & Insurance

Image & article ref: cityam.com

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