Category: Technology

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Digital certificates on the DLT platform to be introduced in an Italian university

Categories Blockchain, Cryptocurrency, Smart Contracts, University, Technology, Ethereum

Digital certificates on the DLT platform to be introduced in an Italian university

The University of Cagliari, Sardinia is set to join a range of other international universities that will be offering digital certificates over the blockchain. The system was introduced at the graduation session of Computer Science on the 20th of July and will be rolled out across other programmes later in the year.

The decision to switch to blockchain issuing was taken by the university following concerns around the manipulation or falsification of certificates. By using the Ethereum blockchain, the certificates become completely immutable and allow employers to hire students without any concerns over authenticity.

The Director of the University of Cagliari, Maria del Zompo said:

“We have decided to guarantee the authenticity of our graduates’ European certificates with this technology because we intend to equip them with a modern, simple and immediate tool that can be used anywhere in the world. A degree certificate, whether on paper or digital, is easily falsified or altered. Thanks to this technology, our students can guarantee the authenticity and integrity of their digital certificates to potential employers all over the world, in a simple and free manner. Our system does not require the availability of specific apps on smartphones, or access and registration to a specific site. It all takes place in a simple way and with free access tools.”

The new system will allocate one specific registration for each degree session that is unique to the student that takes it. The authenticity of it can be verified by anyone who has an internet connection and can follow the instructions provided on the website of the university. The project was developed in collaboration with FlossLab srl.

Computer Science professor, Gianni Fenu said:

“If the ‘computer signature’ of the document owned coincides with the registered one, integrity is guaranteed of the document The probability of obtaining a random coincidence is less than one divided by a number of 77 digits.”

Cagliari University joins a growing number of educational institutions across the world who have adopted similar systems. These include; Massachusetts Institute of Technology and The Indian Institute of Technology.

 

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

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Changpeng Zhao explains the three keys to virtual currency success

Categories Blockchain, Cryptocurrency, ICOs, Technology, Trading, Cryptocurrency Exchange, Exchanges

Changpeng Zhao explains the three keys to virtual currency success

Just over one year ago, Changpeng Zhao founded a cryptocurrency exchange that just 365 days later would be the biggest crypto exchange in the world. Getting a coin listed on a leading exchange such as Binance is the holy grail of the crypto world, almost guaranteeing success in the market. But how do exchanges such as his decision which make the cut and which do not? Here are three things Zhao looks for before adding it to the platform.

A winning whitepaper

In order to fully understand a project, you need to look at the whitepaper in detail as well as understand it clearly. Zhao and his team will also put significant work into researching the community, the source code on GitHub, as well as reading community reviews.

A good team

Having a strong team is essential to the success of any project, but Zhao is also looking for a team that has history, ability, and experience within the sector. Whilst it can be difficult to predict what way a project will go, having a well-rounded idea of who is behind it can give a very good indication.

A good number of users

You are not going to get listed on Binance if only 10 people are using your product. What is the use in offering trading pairs if there is no volume or demand? Binance will actually check and monitor the number of users and whilst there is no set benchmark, if the project is a good one and a high number of people are involved, your chances of getting listed are high.

Changpeng also was quick to dispel rumours that he charges to list coins on the platform, stating:

“What we do is we don’t negotiate, and we don’t ask for a price. The project team, when they submit an application, they tell us what they want to pay. And you can say zero, which we will accept. And we have listed coins that have said zero. You have to have a good product, a good service. I think our service is ok. To be honest, it’s not perfect. I really want to improve it. But I think in the industry, we’re kind of good compared to others. But I think the other big thing is your ethical behaviour.”

As well as these three key things, Zhao is also careful to only back legitimate projects. Aware that there is a lot of underhand and dubious things going on in the cryptocurrency space, he wants to retain their position as the most ethical and powerful exchange out there. They are careful about who they partner with because whoever he supports, gets catapulted into a popularity of stratospheric proportions.

 

Interested in ICOs Legislation in Malta? Contact us directly on +356 20103020 or by email at [email protected] to find out more.

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Could DLT technology help reduce carbon emissions?

Categories Blockchain, Cryptocurrency, Technology, Carbon Footprint

Could DLT technology help reduce carbon emissions?

There is no doubt about it- the world is moving swiftly towards a token driven economy where all assets, from stocks to real estate and even fine art will be represented by crypto-tokens and traded over a blockchain. This has the potential to release incredible amounts of value, a statement put forward by IBM which is hoping to create the perfect platform for trading these tokens. But before they direct all of their attention towards assets, they are focussing on a plan to digitise something that will benefit the environment.

Carbon offset credits

Across the world, various governments are using carbon offset credits to pay for the carbon dioxide that they emit. These credits are purchased and then traded and the money from the investment is pumped back into reducing emissions in another way such as renewable energy production. Some of these credits lose their value over time and the task of purchasing a high-quality credit can be a very complicated and time-consuming process. The solution to this problem could lie in blockchain technology and it is hoped that by harnessing it, a more liquid and transparent marketplace could be created.

IBM has teamed up with the Veridium Foundation in an effort to tokenise these carbon offset credits on the Stellar blockchain. The token, which is due to launch a little later in 2018 will be backed by a range of carbon assets that have been verified by third parties. A percentage of these credits will come from the sister company of Veridium, InfiniteEARTH which has already established a business that sells carbon credits to companies that want to offset their carbon footprint.

Pressure from shareholders

The business involved in technology, finance, and fossil-fuels are under more and more pressure from their shareholders to address their impact on the environment and this is a driving force for turning the voluntary carbon credit market into a billion-dollar business. The team at Veridium are sure that they can make the industry more valuable and more efficient as the token will be capable of automatically calculating how many tokens a company needs to buy in order to offset the footprint of any given product. To do this work manually would be incredibly time consuming and expensive, something that discourages possible investors. This new token should make things a lot more straightforward.

By teaming up with IBM, Veridium is able to avail themselves of their expertise in the area of industry-specific blockchains, particularly those in the energy sector. These new systems are able to automatically enforce business rules that are completely unique to transactions between oil and gas companies.

With Veridium’s token, IBM has identified an opportunity to combine its various networks with Stellar’s blockchain to create a situation where a complex asset class can be combined with other types of transactions.

 

If you have any questions in relation to ICOs, please contact us on [email protected]

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New technology is set to revamp 4500-year-old board game

Categories Blockchain, Technology, Tokens, Utility Tokens

New technology is set to revamp 4500-year-old board game

“Go” is one of the oldest board games in the world. An abstract strategy game for two players, the aim is to occupy more territory than the opponent in the shortest amount of time, and as of 2015, there are over 40 million Go players in the world.

Whilst the rules seem easy, the game itself is extremely complex in the same way that Chess is, but Go has a much larger board with a lot of additional room for play and as such it is a lot more difficult.

A blockchain version

The current world champion of Go is a South Korean called Lee Sedol who became the fifth youngest national to become a professional at the age of 12. Now, he is widely considered to be one of the best and most skilled players in the world and he has turned his attention to creating a blockchain version of his beloved game.

In 2016, Sedol lost to AlphaGo a Google AI which was able to beat not just him, but French Go player Fan Hui. Now, two years later, Sedol has announced that he will be launching a blockchain version of the game which will be known as “GoBlock” and will be created with the assistance of the Korea-basd The Blockchain Inc.

The Blockchain Inc was designed to assist users in navigating the world of cryptocurrency, and it also manages CoinUs which is a website due to release a wallet and a device that will facilitate offline digital asset storage.

A global league

Once GoBlock is launched, players based in China, Japan, and South Korea will be able to partake in a global, professional league, but this is not all that Sedol has planned. He has also spoken about his desire to create an awards system that will benefit everyone from viewers to players and advertisers. The platform is anticipated to include both amateur and professional leagues, as well as providing training for beginners.

“I was drawn to the blockchain technology due to decentralization and transparency features. If blockchain technology and the token economy are applied to Go game, it will be able to expand the game’s ecosystem and bring about unforeseen changes to the game’s ecosystem,” said Sedol.

GoBlock will be built on the Ethereum network and tokens will be issued to support leagues, game players, and even match records. After a few years of uncertainty, it seems that blockchain has finally managed to make a dent in the gaming industry with games such as CryptoZombies and CryptoKitties making some serious waves.

 

Interested in ICOs Legislation in Malta? Contact us directly on +356 20103020 or by email at [email protected] to find out more.

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Is Amazon about to launch virtual payments?

Categories Blockchain, Cryptocurrency, Technology, Payments, Bitcoin, Tokens, Wallet, Utility Tokens, Security Tokens, Ethereum, Ripple

Is Amazon about to launch virtual payments?

Rumours have been swirling for months that e-commerce giant, Amazon is set to launch its cryptocurrency payments. Earlier in the year they purchased a range of crypto-themed domain names such as amazoncryptocurrency.com and amazonbitcoin.com which just fuelled the reports further.

Now reports from an anonymous software engineer have been circulating on Reddit stating that Amazon has been talking about accepting Bitcoin payments and that the only reason they haven’t done it yet is due to issues surrounding refunds and volatility.

There have also been talks of them offering blockchain solutions through their AWS Blockchain Templates which can be used to launch an Ethereum of Hyperledger Fabric network in a matter of moments. It has also been speculated that they are creating their own cryptocurrency. In fact, they created one back in 2013 called Amazon Coin but it never took off due to the fact it was not based on any blockchain technology and could only be used on the Amazon platform.

Whilst the tech and e-commerce giants have not revealed anything about accepting crypto or developing blockchain tech over the previous months, they have made some interesting moves during the last few weeks. An Amazon subsidiary “Amazon Technologies Inc” recently issued a patent for a data streaming marketplace which allows clients to view crypto transaction data as it happens. It is designed to function like a crypto stock trading portal with real-time updates.

The patent states:

“A group of electronic or internet retailers who accept Bitcoin transactions may have a shipping address that may correlate with the Bitcoin address. The electronic retailers may combine the shipping address with the Bitcoin transaction data to create correlated data and republish the combined data as a combined data stream.”

Whether they will do something more concrete to move forward in the space remains to be seen but what we do know is that they are interested in dallying with the technology and its implications. The fact that crypto and bitcoin has even been recognised by Amazon is a big step forward and a vote of confidence for the sector.

 

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

 

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Paris welcomed a Fintech conference organised by Smile expo in the wake of new decentralised technologies

Categories Blockchain, Cryptocurrency, ICOs, Malta, E&S Group, Technology, Tokenomics, Tokens, Wallet

Paris welcomed a Fintech conference organised by Smile expo in the wake of new decentralised technologies

 

A few days after France welcomed their World Cup heroes flooding the streets of Paris with loud cheers and enthusiasm, Smile expo organised their ‘Blockchain & Bitcoin Conference’ in Paris. The event was held on the 18th July discussing various topics in relation to Fintech, blockchain and crypto sector. One of E&S Group representatives attended the conference which welcomed many foreign entrepreneurs from the blockchain industry.

The Smile expo is a Russian company which organises events in different cities around the world. Most of these conferences are B2B events combing exhibitions and conferences with regards to Fintech, Blockchain and Bitcoin titled events. The last event that Smile expo organised was the Blockchain and Bitcoin conference which took place in Paris, France. During the event, many key speakers participated in discussions and speeches at the conference. The discussions which were brought up were about new fintech technologies in the market, what is the French position regarding blockchain and crypto-assets and ICOs, GDPR and Blockchain and if they can work hand in hand, and Blockchain and the enterprises, to name a few.

If you would like legal assistance in building up your ICO venture, contact E&S Group today. Our legal and accounts team will assist and advise you from concept stage through your actual offering. Send us an email on [email protected] or by telephone on +356 2010 3020. We make things happen!

 

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Three Generations of DLT Platforms

Categories Blockchain, Cryptocurrency, Smart Contracts, Technology, Bitcoin

Three Generations of DLT Platforms

When we think back to the time that the internet first arrived, we can note its progress through several distinct stages. These included the launch of the first wide-area computer networks back in the 1960s, the first emails in the 1970s, the invention of the Ethernet cable a bit later on, and then the rollout of the world wide web in the 1990s. As we intrepidly followed each of these developments, the internet as we knew it changed dramatically. Each and every step was crucial to creating the pieces that would be fused together to create the internet that we use today.

Whilst blockchain technology is only a decade or so old, we can look back at its recent past and divide it into some distinct and pivotal stages. Of course, we are still in the infancy of the blockchain world and it is likely that as the years go by, it will evolve into something completely unrecognisable in terms of capacity, from what we know now. That said, we are still able to pinpoint three so-called “generations” of blockchain and they are as follows:

Bitcoin and Virtual Currencies

Whilst several individuals had come up with some of the ideas that would later develop into the blockchain, it was Satoshi Nakamoto that wrote them all down in the whitepaper for Bitcoin. Because of this, we can safely say that the true concept of blockchain began with BTC.

In the beginning, the blockchain laid the foundations for a shared public ledger that would support a digital currency network. Satoshi’s blockchain comprised of 1MB blocks of information attached to each BTC transaction and these blocks would all be linked together through a cryptographic verification process, creating a totally immutable chain. Even in its early stages, blockchain technologies basic premises are still in place today and Bitcoins blockchain is pretty much unchanged from when it was launched almost 10 years ago.

Smart Contracts

Over time, developers working on blockchains began to realise that this technology had so much more potential than just carrying out basic transactions. The founder of Ethereum, Vitalik Buterin had the novel idea that things such as assets and trust agreements could be transferred onto the blockchain and managed automatically.

In “normal life” a contract is managed between two independent entities, often with the input or supervision of other entities as a part of the process. Smart contracts, on the other hand, are self-managing and self-executing which means they require no third party supervision at any time. Each step of the smart contract process is triggered by an event such as an expiration date or the achievement of a particular goal with no need for any human interference whatsoever.

Many analysts believe that we have not even begun to scratch the surface when it comes to the potential of smart contracts, but one thing is for sure; they are an important evolution in the blockchain world.

The Future

One of the big obstacles standing in the way of blockchain domination is scalability. Bitcoin is struggling big time with issues around transaction processing times and bottlenecking. Whilst many newer cryptocurrencies have tried to revise their own blockchains to avoid or anticipate these issues, there has not been a huge amount of success thus far. Going forward, one of the most important developments that we need to see is going to centre around scalability.

Asides from this crucial improvement, new applications and uses for blockchain are being discovered on a daily basis. It is hard to know exactly where these developments will take us but supporters of the tech are on the edge of their seats, anticipating the next move of the sector.

 

E&S Group is a leading law firm offering various services with regards to ICOs. Feel free to contact us directly on +356 20103020 or by email at [email protected] to find out how E&S can help you in ‘making things happen’.

For more information click the link.

 

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Malta – at the centre of the Distributed Ledger Technology

Categories Blockchain, Cryptocurrency, ICOs, Malta, Law, DLT Regulation, Smart Contracts, E&S Group, Technology, Cryptocurrency Exchange, Tokens, VFA Act

Malta – at the centre of the Distributed Ledger Technology

In the light of the new blockchain laws presented by the government of Malta, many fintech organisations praised the government’s progressive approach to these set regulations. The Malta Chamber of Commerce, Enterprises and Industry organised an interesting and detailed conference titled; ‘Blockchain: The New Regulatory Framework.’ E&S Group employees attended this conference to understand more about the three laws soon to be in force.

The Parliamentary Secretary for Financial Services, Digital Economy and Innovation, Hon. Silvio Schembri opened up the panel. He spoke about how Malta is becoming a Blockchain Island soon implementing laws that will ensure a safe crypto market on the island. Various influential people coming from various financial sectors spoke about the importance of blockchain technology. The discussion revolved around how the laws will help Malta in the sphere and being a trailblazer in the industry.

Many stakeholders coming from various industries in particular finance, legal, and IT attended the conference. Many interesting points came up during the discussions which brought about how private institutions are reacting to Malta’s DLT shift. In fact, some Maltese banks are welcoming ICOs as their clients. A bank, in particular, AgriBank has started to open up bank accounts to ICO clients. However, they have not started to accept cryptocurrency trading as it is still a bit of a grey area. Strict due diligence procedures also need to be followed by MLRO, making sure that all necessary AML procedures are in place. In addition, an MFSA representative spoke about the Financial Instrument test, VFA agents need to adhere to, presenting their final findings to the authority.

Since the industry is still in its initial stages, AML procedures need to be processed. In fact, the FIAU will have an important role to safeguard Malta’s reputation, seizing fraudulent companies from operating in Malta.

 

Are you looking for the best country to operate your ICO? Is Malta on your list and wish to know more what it offers? Check out the link here or send us an email on [email protected] or by calling us on +356 2010 3020. We make things happen!

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A new study showing DLT companies falling short of the mark

Categories Blockchain, Cryptocurrency, ICOs, Technology, Tokens

A new study showing DLT companies falling short of the mark

The University of Pennsylvania in collaboration with Law professor David Hoffman and other leading academic figures have published an in-depth study and analysis of ICOs. With a particular focus on ICOs that promise concepts such as autonomous governance and the philosophy that “code is law”, the results have been disappointing, to say the least.

The results entitled “Coin Operated Capitalism” detail the author’s survey and study of the top ICOs of 2017 and whether they lived up to the promises that were included in their whitepapers. They also took a careful look at whether the whitepapers matched the technology’s codebase and in almost all cases, the study finds a huge gulf between claim and reality.

“The automated mechanisms found in code—known as ‘smart contracts’—are not the only way entrepreneurs can deliver on their promises,” Wishnick explained.

Failure to match promises

Results showed that only 20% of the 50 contracts surveyed actually matched their promises to code 100% of the time. Almost 60% made at least one government promise that was not present in the code, and another 20% had two or more failures.

“Surprisingly, in a community known for espousing a techno-libertarian belief in the power of ‘trustless trust’ built with carefully designed code, a significant fraction of issuers retained centralized control through previously undisclosed code permitting modification of the entities’ governing structures,” the working paper explains.

Creative development

In the conclusion of the paper, the authors state that the informal nature of smart-contract production can lead to risks but it can also result in creativity. It seems that developers of smart contracts are much more creative than a group of lawyers who usually reuse language from contract to contract without much thought. However, the study does state that the community is full of passion and energy but it also points out that the creation of smart contracts and the promises made must be carefully evaluated and fully scrutinised.

“Beyond the production of smart contracts and blockchain code, our study also highlights the importance of the ecosystem through which crypto code is vetted, audited, and made legible to the outside world,” the paper concludes.

Engaging a professional team

There are several reasons for this sort of result. Because the industry is still in its infancy, it could be attributed to a lack of experience and understanding. It could also be said that some do not yet fully understand the potential of the projects that they create and that such errors are nothing more than a mistake. There could also be problems regarding how the whitepaper is authored, such as a lack of understanding from the person writing it. To avoid such issues, when writing a whitepaper and planning the tokenomics of your ICO, you should always work in conjunction with a team of professionals.

At E&S Group we have expert legal minds, corporate services experts, leaders in the ICO and crypto industry and guide you through the process of setting up your ICO through the tailor-made ICO Legal Service. To avoid situations like these unfortunate ICOs, contact us on [email protected] or by telephone on: +356 2010 3020

 

 

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E&S Group participated in a conference organised by Malta Institute of Management.

Categories Blockchain, Cryptocurrency, ICOs, Malta, The Blockchain Island, Smart Contracts, E&S Group, Technology, Cryptocurrency Exchange, Tokenomics, Regulation, Tokens

E&S Group participated in a conference organised by Malta Institute of Management

On the 26th of June, the Malta Institute of Management (MIM), organised a day conference titled; “The MIM Cryptocurrency Considerations for Management Conference”. The conference invited Maltese stakeholders that have a keen interest and are contributing to the blockchain sphere. The main topics discussed focused on cryptocurrencies in relation to businesses, how to avoid fraudsters stealing your cryptos, why tokens need to be regulated, and the Malta Stock Exchange outlook towards ICOs.

During the event, a discussion was organised inviting influential stakeholders from the crypto and blockchain sphere in Malta. Tokenomics expert and E&S Group director, Karl Schranz took part in a panel discussion titled: “Cryptocurrencies and Blockchain”. They discussed if cryptocurrencies and blockchain should be regarded as one or two separate entities.

The topics which came out from this discussion were notably about the new laws that Malta will pass in the coming weeks, cementing its way to become “The Blockchain Island”.

If you require further information regarding Malta’s laws in DLT, ICOs and Blockchain technology, contact us by sending us an email on [email protected] or by telephone on +356 2010 3020

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