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Its The Jons 2019!

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Happy New Year! It’s been another wild and wacky ride of a year in the tech world: breakthroughs and disgraces, triumphs and catastrophes, cryptocurrencies and starships, the ongoing rise of utopian clean energy and dystopian cyberpunk societies, and most of all, the ongoing weirding of the whole wide world.

In other words it was another perfect year for The Jons, the annual award which celebrates dubious tech-related achievements, named, in an awe-inspiring fit of humility, after myself. We’ve got quite a lineup for you this year, folks. So let’s get to it! With very little further ado, I give you: the fuftg annual Jon Awards for Dubious Technical Achievement!

(The Jons 2015) (The Jons 2016) (The Jons 2017) (The Jons 2018)

THE CATLIKE FINANCIAL REFLEXES AWARD FOR LANDING ON YOUR FEET AFTER UNMITIGATED DISASTER

To Adam Neumann, who presided over the spectacular rise and even more spectacular fall from grace of WeWork, which proudly launched its proposed IPO this year and promptly saw most of its valuation (and its cash) disintegrate in a sea of eyebrow-raising stories about delusional irresponsibility and the harsh realities of actual business. However, give Neumann credit: stories may have made him sound like a potsmoking surfer dude who lived in a hallucinatory fantasyland, but — unlike his employees, whose dreams of IPO wealth were suddenly and completely shattered — he managed to walk away from the business he drove nearly into the ground with a reported $1.7 billion windfall.

THE EVERYBODY’S BEST FRIEND AWARD FOR INSPIRING NOSEBLEED VALUATIONS AND ASPIRATIONAL POSTERS EVERYWHERE

To Masayoshi Son, whose widely announced dreams of a $108 billion Vision Fund II turned into the relative nightmare of something “far smaller” — but still has his surreal, dreamlike slide decks to fall back on. After all, “SoftBank works to comfort people in their sorrow.”

THE WE MAY AS WELL JUST GIVE HIM A LIFETIME ACHIEVEMENT AWARD FOR ELON DOING HIS ELON THING

To — obviously — Elon Musk, who actually had a really good year: Tesla stock got ‘so high‘ it brushed the price at which he previously announced he would take it private (he didn’t); SpaceX launched Starlink, a “very big deal“; and he was acquitted of defamation for calling a complete stranger a pedophile on twitter. OK, so he also announced Starship should reach orbit by this coming March, and smashed the Cybertruck’s allegedly unbreakable windows onstage at its unveiling, but still, a good year! See you in 2020, Elon.

THE IF AT FIRST YOU DON’T CONVINCE, TELL AN EVEN MORE RIDICULOUS TALE AWARD FOR RISIBLE SATOSHI NAKAMOTO CLAIMS

To Craig Wright, who has long claimed in the face of mocking industrywide disbelief to be Satoshi Nakamoto, the creator of Bitcoin, and especially for his claims that, now work with me here, the keys 1 million of Satoshi’s bitcoin were put in a “Tulip Trust” by a long-deceased collaborator and will be delivered to him by a “bonded courier” on January 1st 2020, i.e. a few days from now. The judge he told this to was, unsurprisingly, spectacularly unconvinced, saying “Dr. Wright’s demeanor did not impress me as someone who was telling the truth” and also reproached him for his “willful and bad faith pattern of obstructive behavior.” You don’t say.

THE DEAD MEN TELL NO TALES, BUT ONLY IF THEY’RE ACTUALLY DEAD AWARD FOR LEAVING A TRAIL OF CRYPTOCURRENCY CHAOS IN ONE’S WAKE

To my fellow Canadian Gerald William Cotten, the founder of QuadrigaCX, who apparently stole and/or lost essentially all of his customers’ money, spending much of it on “luxury goods and real estate,” before his death in Mumbai last year. “But Jon,” you say, “how does this quality for a 2019 Jon Award?” Because the many thousands who lost money are now demanding an exhumation to determine that the body in Cotten’s grave is, in fact, Cotten. As for the surviving founder, he’s “a reported ex-con who served 18 months in a federal U.S. prison for identity theft, bank fraud and credit card fraud.” Is this the end of this crazy story? …Well, probably yes. But in the world of cryptocurrencies, which reliably gives us the most jawdropping Jons, who can say for sure?

THE I’VE SEEN THE FUTURE BABY AND IT’S PRETTY CRAZY AWARD FOR EPITOMIZING OUR CYBERPUNK PRESENT

To Lil Nas X, a previously unknown queer black American teenager who made a country-trap song with a beat he purchased for $30 from a Dutch producer, which sampled an obscure Nine Inch Nails deep cut, recorded it in less than an hour for $20, crafted a hundred memes to publicize it on a new Chinese-owned video-snippet social network, and then saw it go viral courtesy of a Yeehaw Challenge meme, hit first country and then crossover success, and become the longest-reigning Billboard No. 1 single of all time. Does it even get more postmodern cyberpunk than that? Lil Nas X, this is your world (well, and Billie Eilish’s) — we just live in it.

THE POWER TO DRIVE BABY BOOMERS COMPLETELY MAD AWARD FOR BEING SENSIBLY UPSET ABOUT THINGS

To Greta Thunberg, another teenager, who is an angry advocate of doing something about climate change and for some reason frequently drives a whole lot of apparently lucid people, as well as the President of the United States, completely insane, prompting them to level ludicrous and deeply attacks at a sixteen-year-old autistic girl. It is truly mystifying, and yet revelatory. Maybe they’re just upset that she’s so good at Twitter?

THE SOMEONE MUST BE TO BLAME, THIS IS SOMEONE, THEY MUST BE TO BLAME AWARD FOR LASHING OUT IN THE WRONG DIRECTIONS

To the mass media, for the techlash: the backlash against tech in which they blame the tech industry not only for its actual sins and problems, which are admittedly not hard to find, but also for essentially everything that is wrong with the world’s political and financial systems. Politics is somehow the fault of Facebook, rather than venal politicians and their ability to manipulate, er, the mass media like a Stradivarius. Inequality is somehow the fault of the tech industry, rather than City / Wall Street parasitism, regulatory capture, and, again, the politicians who actually write the laws which enact inequality. Again, the tech industry has real problems — but the fact that it has devoured the advertising and classifieds income that long propped up the media seems to have caused otherwise sober and thoughtful journalists to instinctively knee-jerk blame it for every ill, while letting their actual architects off lightly. Sadly I fear this one is going to be a perennial.

THE WHO NEEDS HUMAN FACES OR WORDS AWARD FOR SIMULATING THE DEEP INSIGHTS OF INTERNET DISCOURSE

To StyleGAN 2 and GPT-2, neural networks from Nvidia and OpenAI respectively, which generate fully convincing fake human faces, and close-enough-for-the-Internet convincing fake human comment sections, respectively. I feel certain that somewhere out there on the Internet, bots with StyleGAN avatars and GPT-2-sourced texts are already waging war against one another in befuddling comment sections: battles which have no end, no point, and no room for any actual humanity. The more things change, eh?

THE POP GOES THE IPO AWARD FOR MAKING LOCKUP PERIODS MEANINGFUL AGAIN

To Slack, Lyft, and Uber, all of whom went public this year and, despite being extremely high-profile tech companies, promptly saw their stock prices crater and stay there, while their most recent employees presumably saw their lockup period come and go while remaining resolutely underwater. All this while big, boring tech companies like Google and Microsoft saw their stock climb to new highs nearly every week. Maybe joining a rocket ship isn’t always such a great idea after all…

THE WHAT’S A FEW BILLION DOLLARS BETWEEN FRIENDS AWARD FOR JAM YESTERDAY, JAM TOMORROW, BUT NEVER JAM TODAY

To Ron Abovitz of Magic Leap, whose technology demos over the last decade have been, by all accounts, truly breathtaking and mindboggling, but whose actual shipped technology, despite ten years and nearly $3 billion in funding, has been, by all accounts, deeply disappointing. Now Magic Leap is hemmorhaging high-profile board members, signing over patents as collatoral to JP Morgan Chase while desperately trying to raise funding, and it next headset is reportedly still years away from launch. But look, those demos were amazing.

THE A SINGLE SACRIFICIAL LAMB FRANKLY ISN’T ENOUGH AWARD FOR A DEEP AND SYSTEMIC CATASTROPHE

To Boeing and its 737 MAX debacle, in which, among numerous other stunning derelictions of fundamental engineering duties, crucial safety features were sold as profitable optional extras — and yet it took not one but two crashes, killing hundreds, for them to admit any problems. Their CEO has resigned, but the company’s failures are clearly deep and systemic rather than individual; their once famously engineer-driven corporate culture is clearly no more. Their example of the decline of American capitalism in general is almost a little too on-the-nose, but then, that’s 2019 for you.

Congratulations, of a sort, to all the winners of the Jons! All recipients shall receive a bobblehead of myself made up as a Blue Man, as per the image on this post, which will doubtless become coveted and increasingly valuable collectibles. (And needless to say, sometime next year they will become redeemable for JonCoin.) And, of course, all winners shall be remembered by posterity forevermore.


1Bobbleheads shall only be distributed if and when available and convenient. The eventual existence of said bobbleheads is not guaranteed or indeed even particularly likely. Not valid on days named after Norse or Roman gods. All rights reserved, especially those rights about which we have reservations.

Read more: https://techcrunch.com/2019/12/29/no-really-naming-an-award-after-myself-is-the-most-humble-thing-anyone-has-ever-done-5/

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Hong Kong in Talks with China to Stretch Cross-Border Testing of Digital Yuan

After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing.

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After the successful proceeding of the first phase of the testing of the Digital Yuan, Hong Kong is in talks with China to stretch its cross-border testing. This has marked yet another step toward wider adoption of the currency.

Hong Kong to Stretch Testing of Digital Yuan to China

The Monetary Authority of Hong Kong has recently conducted tests with the Digital Currency Institute of the People’s Bank of China.

In addition to this, the Hong Kong Monetary Authority said in an e-mailed response to the questions asked that it involved a bank designated by the mainland authority, as well as the merchants and bank staff.

The e-mailed response said:

“We have tested the use of the related app, system connectivity, and certain use cases such as cross-boundary purchases.” 

Along with this, the statement said:

“We are discussing and collaborating with the PBOC on the next phase of technical testing, including the feasibility of broadening and deepening the use of e-CNY for cross-boundary payments.”

Also, it should be known that the People’s Bank of China is pretty ahead of other major central banks in the development of its own digital currency.

The bank is looking forward to replacing cash and maintaining control over a payments landscape that has become increasingly dominated by technology companies not regulated like banks.

Payment Infrastructure Underpinning e-CNY can Address Substantial Portion of Cost Base

As revealed in the report released on Wednesday by Oliver Wyman, the usage of the Digital Yuan in Hong Kong could lead to a much faster and cheaper cross-border payment and clearing process. 

Michael Ho, the Principal of Financial Services at Oliver Wyman and Co-Author of the report said:

“If the payment infrastructure underpinning e-CNY were to roll out for cross-border payments at scale, we believe it can address a substantial portion of this cost base.”

China could promote the overseas use of digital yuan starting with the Greater Bay Area, a massive urban cluster that includes Shenzhen, Macau, and Hong Kong.

READ  Diginex Introduces EQUOS.io In Singapore To Start Derivative Product Trading

#Cross-border transactions #Digital Yuan #Hong Kong

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Source: https://www.cryptoknowmics.com/news/hong-kong-in-talks-with-china-to-stretch-cross-border-testing-of-digital-yuan

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Identity Platform Acuant Partners with Blockchain Analysis Firm Chainalysis

It has been revealed that the identity platform for fraud prevention and Anti-Money Laundering compliance, Acuant has partnered with Chainalysis.

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In a recent announcement, it has been revealed that the identity platform for fraud prevention and Anti-Money Laundering compliance, Acuant has partnered with Chainalysis. The recent partnership between the AML compliance and the blockchain analysis company is meant to assist financial institutions with AML solutions.

Acuant Partners Chainalysis to Provide AML Solutions

The partnership between Chainalysis and Acuant will be helping in assisting the cryptocurrency businesses assess risk, safeguard them against illegal transactions, automate workflows, and protect their reputations with Anti-Money Laundering solutions.

In addition to this, it should be known that the customers of both partners, Acuant and Chainalysis, will now be able to leverage both the platforms via the interface provided by Acuant to manage transactions that are indicative of higher risk.

The customers will be provided with access to Chainalysis Know Your Transactions (KYT) as well as Chainalysis Reactor, their graphical investigative software

Talking further about the investigative software, it can be utilized to follow the flow of funds across the blockchain for investigations.

The amalgamation of the Chainalysis Know Your Transactions and Acuant integrates a data set of thousands of services with the solutions that help to review both the fiat and crypto transactions.

The Integration of Identity Platform and Blockchain Analysis Firm

Well, along with this, the integration will be helping in detecting any kind of suspicious activities, manage the investigations, and moreover, file the suspicious activity reports (SARs).

The real-time alerts on the highest-risk activity will be allowing the compliance teams to target the most urgent activity and following that, fulfill the regulatory obligations to report the transactions that are suspicious.

Jose Caldera, the Chief Product Officer at Acuant said:

“Our partnership with Chainalysis will further augment our support to the cryptocurrency industry. This partnership is bringing together and integrating the top Anti-Money Laundering solutions in the marketplace today. We look forward to working with Chainalysis to strengthen our platform and to continue to be a leading solutions provider in the crypto space.” 

READ  Bitcoin PARABOLIC!! | $9,500 Next Stop?? | Bitcoin Maximalism Vs. Altcoin Hype | BTC On Excel

#Acuant #Blockchain #Chainalysis

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Source: https://www.cryptoknowmics.com/news/identity-platform-acuant-partners-with-blockchain-analysis-firm-chainalysis

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BIC’s Video News Show: Bitcoin Cash

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In this episode of the BeInCrypto video news show, host Jessica Walker will look at bitcoin cash (BCH). The coin has returned to the top ten in market cap, due to an anticipated upgrade, its pairing with ethereum (ETH), as well as the increased use of CashFusion. We’ll also take a look at its recent price movements.

Bitcoin Cash is Back in the Top 10 Cryptos! Is it There to Stay?

Bitcoin cash back in top ten

Bitcoin cash has been gaining a lot in the past several weeks. It currently sits at the tenth place on CoinMarketCap’s top cryptocurrencies in terms of market capitalization. It is a regular on the list and it seems to be going up because of investors looking for the next “boom-coin.” By sharing a name with mainstay bitcoin (BTC), it’s basking in the glory of its more popular namesake. But what are some other reasons for BCH’s return to the top ten?

May 15th upgrade

Perhaps the most important thing on BCH holders calendar is the upgrade that will happen on May 15. Most of the changes are aimed at improving the experience of users and merchants when using BCH to make payments. This will hopefully provide another incentive for adoption.

Another upgrade that stands out to us is the removal of the unconfirmed chained transaction limit. This will allow users to do more than 50 chained unconfirmed transactions at a time. This was a highly requested feature for a long time. In particular, by gambling sites and other high volume, quick transaction apps that relied on BCH for payment. 

BCH and Ethereum

Another interesting development around BCH is its pairing with Ethereum. This will happen through the SmartBCH sidechain, which was announced last Thursday. 

In an interview with bitcoin.com, the Smart Bitcoin Cash team lead explained that developers and decentralized app makers can now experiment and develop with the sidechain, which is compatible with the Ethereum Virtual Machine. This seems to have already provoked some interest. 

The Coinflex exchange team has begun running tests with setting up a decentralized exchange and creating tokens. If successful, the sidechain could become a platform for expanding the user base of bitcoin cash and grow its ecosystem. 

CashFusion

CashFusion has also been mentioned quite a lot this week. For those of you who haven’t heard of it, CashFusion is a service that provides privacy for bitcoin cash. Described simply, it lets wallets help each other blend into the crowd and keep prying eyes away. 

Reports have indicated that since CashFusion was introduced in November 2019, there have been more than 67,000 fusions or almost $6 billion worth of BCH using today’s exchange rates. This could be another sign of the popularity of bitcoin cash, which has largely gone under the radar in recent months.

Technical analysis

A quick chart analysis shows us that we are close to a high from May 2018, which was around $1,850 dollars. Right now, we seem to be on track to reach and test that level. But a correction and retest of $1,228 on the downside are also possible, although that level did hold several days ago. 

Source:TradingView

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Source: https://beincrypto.com/bics-video-news-show-bitcoin-cash/

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Aave Testing Out Permissioned Pool for Institutional Investors

DeFi lending protocol, Aave protocol has built a permissioned pool for institutions to test out before getting involved within the DeFi ecosystem.

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DeFi lending protocol, Aave protocol, has built a permissioned pool for institutions to test out before getting involved within the DeFi ecosystem. The permissioned test pool is designed to be compliant with AML regulations with mandatory Know Your Customer (KYC) verification process from relevant partners. The pool would be coming to mainnet sooner rather than later.

Aave Permissioned Pool for Institutional Investors

Earlier on May 12, a Twitter user posted a tweet tagging Aave’s official Twitter account expressing concern that an anti-money laundering warning had appeared on Aave’s homepage.

Responding to this, the founder of AAVE, Stani Kulechov tweeted back saying that there had been a mistake and that “The text is actually incorrect and relates to another pool we’re testing out” explaining that Aave is still fully decentralized, and the text had appeared in the wrong place before later revealing that Aave is testing out a private pool for institutional investors.

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Another user replied asking whether the specified pool was for testing out compliance features. Kulechov then confirmed the private pool was built for institutions to practice “before aping into DeFi.”

Even though Aave was launched at the beginning of 2020, it has experienced significant growth in total deposits and daily deposits since the summer of 2020.

Aave’s recent launch on Polygon and the introduction of its liquidity program was followed by its total value locked rising from $5.4 billion on April 25 to roughly $11.4 billion on May 12.

Aave Deposits and Permissioned Pool for Institutional Investors

Aave’s head of institutional business development, Ajit Tripathi, confirmed that the protocol had indeed designed a permissioned pool.

However, the “private pool” description in Kulechov’s Tweet was not entirely accurate as the pool will be on public chains but will have permissioned access for institutions, describing that the purpose of the pool was educational.

READ  DASH Falling and Testing Below $191.22 – Technical Analysis

Aave has totaled over $45 billion in deposits, with 2021 seeing the protocol average $231 million in deposits per day. Over 46,000 unique Ethereum users have become lenders on Aave, with the average all-time deposit reaching $173,000. AAVE is currently trading at $566 at the time of writing.

#AAVE #DeFi #Permissioned Pool

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Source: https://www.cryptoknowmics.com/news/aave-testing-out-permissioned-pool-for-institutional-investors

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