Freedom for Venezuela: Zcash to save the economy

The aim is to enable Venezuelans to exchange bolivars in US dollars fairly and anonymously with the help of the crypto currency. Thus the anonymous Kryptowhrung for Venezuelans could become a decentralized alternative to the nationally published Petro.

Zcash founder Zooko Wilcox has entered into a partnership with the news spy

For several years now, Venezuela has not only been experiencing political unrest, but also hyperinflation. The Venezuelan bolivar is losing value every day, and at the same time prices are rising, so that even normal earners can hardly afford their daily shopping. As an attempt to remedy the situation, the government has launched Petro, a crypto currency that is supposedly secured by the news spy country’s own oil reserves: https://www.onlinebetrug.net/en/the-news-spy/

However, there are several problems with petroleum: it is a centralised currency issued by the state. The advantages of decentralised crypto currencies, which people can use to trade independently of financial institutions, are therefore not available to the petroleum. President Maduro is also highly controversial and his government has little confidence among the population. In addition, the Petro trade violates the sanctions imposed by the USA on Venezuela. President Trump has banned all trade in petroleum from his citizens. No good prospects for the state crypto currency.

Anonymous exchange thanks to Zcash

Zooko Wilcox, founder and CEO of Zerocoin Electric Coin Company (ZECC), now wants to help the Venezuelans with his digital money. Zcash (ZEC) is supposed to start where they bring their bolivars into “security”, namely by exchanging them for the relatively stable US dollar. It is not forbidden for them to buy dollars, but it is more difficult. Thus, in addition to the exchange rate on the free market, there is also the “official” rate set by the government, which is much higher. In order to avoid this, the inhabitants must be able to exchange without revealing their identity. Zcash is a crypto currency that offers the option of trading anonymously. Someone who wants to save their earned bolivars from depreciation can now convert them first into Zcash and then into US dollars.

Wilcox has teamed up with the AirTM exchange exchange to implement this. People can deposit their local currency here via various transfer services and keep it in US dollars on their own account. A temporary exchange in Zcash serves as an intermediate step and ensures anonymity during the exchange. A further advantage is the transaction fees, which are significantly lower with Zcash than, for example, with Bitcoin.

The partnership between Zcash and AirTM has already begun and users can now exchange money. The project has no connection to the government bodies or anyone on the sanctions list and does not interact with Petro. Therefore, there should be no reason for the US to stop it. According to AirTM founder Ruben Galindo Steckel, there are no plans to cooperate with Venezuelan banks, companies or the government. The project is aimed exclusively at the people. How the Venezuelan government sees this use of the crypto currency is not yet known.

Waves ends funding round, Bitcoin Cash continues to grow

While Bitcoin, Ethereum and Ripple no longer benefit strongly from yesterday’s upwind, two Altcoins in particular continue to attract: Waves and Bitcoin Cash. The former ended a funding round on 19 December.

Cryptosoft collects 120 million US dollars

It’s a little quieter again at the crypto market on this December 20th. Bitcoin could register a slight plus in the last 24 hours and currently stands at 3,900 US dollars. But the ripple price and the XRP token can no longer profit as much from yesterday’s cryptosoft upswing as reported on: http://www.onlinebetrug.de/en/cryptosoft In the last 24 hours, the ripple price rose by almost 2.5 percent to 0.37 US dollars per XRP. Ethereum has also risen slightly in the last 24 hours. The Ethereum exchange rate (Ether) is currently at 105 US dollars with a soft three percent plus.

In a blog post on 19 December, the Waves team announced that it had expanded. By adding the Vostok project, the company was able to raise an additional $120 million.

Bitcoin Cash rises to 4th place

Meanwhile, BCH manages without any big fundings or small announcements on Medium. Even the winner of the last Hash Wars was able to win a lot in the last 24 hours. Currently, the BCH rate is 147 US dollars, which puts it in 4th place among the crypto currencies. The disgusted step sibling “Satoshi’s Vision” meanwhile counts his days on place 9, but could also make up a good nine percent in the last 24 hours.

The new Vostok platform will give the Waves project a scalable digital infrastructure. This consists of the private Vostok Blockchain and the “Vostock System Operator”. At the start of the project, all Waves Holders will also benefit from an Airdrop that distributes Vostok System tokens.

According to the announcement, the Vostok System Operator will provide a digital infrastructure focused on the registration and tracking of data.

This – combined with the $120 million – immediately impacted the Waves exchange rate. This rate has risen by 16 percent in the last 24 hours and currently stands at 4.19 US dollars.

Hyperledger welcomes Telekom and Alibaba as new Bitcoin formula members

Hyperledger, an open source project for cross-industry blockchain solutions, announced on December 12 that it had welcomed a total of twelve new members.

These include Bitcoin formula industry leaders such as Alibaba Cloud, Citi, we.trade and the telecommunications giant Deutsche Telekom

At the Hyperledger Global Forum in Basel, board member Brian Behlendorf confirmed high-grade offspring for the Hyperledger Bitcoin formula consortium: “We start the Global Forum with a bang, an impressive line-up of Bitcoin formula members. The growing Hyperledger community reflects the growing importance of open source efforts to build enterprise blockchain technologies across all industries and markets. Recent members demonstrate the growing interest and impact of DLT and Hyperledger.”

As the official announcement also shows, the collaborative blockchain project now has more than 260 members. The newest members include:

Alibaba Cloud
BlockDao Information Technology
Citi
German Telekom
Guangzhishu Technology Co.
Guangzhou Technology Innovation Space Information Technology Co., Ltd.
KEB Hana Bank
HealthVerity
MediConCen
Techrock (former Walimai)
we.trade
Xooa

New members euphoric about their accession

In principle, the consortium is open to all members – whether industry, non-profit organisations or government institutions: Everyone can participate. The consortium also enables companies to develop industry-specific applications, platforms and hardware systems that support their individual business processes. They provide DLT solutions and open source code for this purpose. Accordingly, John Calian, head of Telekom’s T-Labs, is pleased about the membership of the German telecommunications giant:

“The development of our wholesale roaming application on Hyperledger Fabric was an obvious decision. Hyperledger Fabric offers business customers such as Deutsche Telekom and our partners an approved open source development ecosystem that integrates production-ready identity management and sophisticated confidentiality concepts for multi-stakeholder environments. That’s exactly what enterprise customers need to turn their distributed visions into reality, and that’s why we’re excited to be part of the community.”

Yi Li, Alibaba’s leader, is also excited about joining his company:

“We are very excited to join Hyperledger. As one of the world’s three leading IaaS providers, Alibaba Cloud strives to provide the best possible service with the highest esteem for all customers. Alibaba Cloud’s Blockchain as a Service (BaaS) is dedicated to providing a globally useful and reliable infrastructure. In addition to focusing on the underlying technology, we would also like to invite other partners to join us and work together to create a larger blockchain business world.”