1) iXledger Offers New Blockchain Insurance with London Broker
iXledger has announced a blockchain insurance product aimed at insuring companies that use blockchain technology. This is in partnership with a London based broker operating in the international specialty insurance markets.
The insurance product will offer quotes and risk assessment scores which are required for placement with underwriters. iXledger already offers a blockchain-based marketplace, which provides InsurTech solutions.
CEO Ingemar Svensson, said, in a statement: “The aim is to make insurance accessible to blockchain companies, and to facilitate the acquisition of insurance as a prerequisite for a successful funding and operation in the same way that smart contract audits are deemed mandatory for investment.”
2) Binance Backs Malta’s Decentralized Founders Bank
Blockchain island, Malta, has established a new bank which will be owned by cryptocurrency investors. The Founders Bank aims to bring together the world of traditional banking with the digital economy and is backed by major crypto exchange Binance, which is taking a five percent stake in the operation.
According to a press release from Malta’s government, Founders Bank will aim to deliver progressive FinTech solutions to the world of innovation and blockchain, with the bank issuing legally binding equity tokens in an offering through blockchain-based equity fundraising platform, Neufund.
3) Taking on Alexa and Cortana, Snips Debuts Blockchain-Based AI Assistant Paris and New York-based startup Snips on Wednesday announced a blockchain-based artificial intelligence (AI) assistant device similar to Google’s Home device. Snips AIR will utilize blockchain technology in order to protect users from data abuse by big, centralized tech companies.
“Snips AIR aims to be the private-by-design alternative to Google Home, Siri and Alexa,” Snips writes in a press release.
Instead of storing users’ data in the cloud, Snips AIR stores the information on the actual device, with users able to opt-in and send their encrypted data to the company for performance analysis. According to Snips, home devices such as Alexa “strip away privacy” by sending personal data from people’s homes to developers for product performance analysis — a fact many users are unaware of.
4) Trump Delivers Executive Order to Establish Crypto Fraud Investigations Task Force
President Donald Trump signed an executive order establishing a cryptocurrency fraud investigations unit. The order focuses on protecting consumers in a still-developing token market, in addition to addressing money laundering and investment schemes.
The U.S. Justice Department will lead the task force — which will include representatives from the Securities and Exchange Commission (SEC), the Federal Trade Commision and the Consumer Financial Protection Bureau — to provide guidance on what the executive order refers to as “digital currency fraud.” It is unclear what type of guidance the U.S. government is looking for from the task force at this point.
5) Quants, Blockchain & Bots: Gimmer Launches Automated Crypto Platform
Brazil-based Gimmer announced on Wednesday the launch of its automated cryptocurrency trading platform, which will allow users to easily employ quantitative financing methods for their crypto trades.
According to the announcement, the decentralized platform allows anyone to trade cryptocurrencies by utilizing advanced algorithmic trading bots that require no programming skills.
Gimmer stated that the platform will be “plug and play,” with users only needing to set up an account, and then allow the decision-making bots do all the work for them.
The platform is not only useful for those who have no previous experience or understanding of the crypto world, but also for advanced traders who don’t have time to watch the markets all day long, Gimmer stated. “Gimmer works by connecting customers to a cryptocurrency exchange via API and then uses algorithmic trading bots and, in the future, AI Bots, to make the trades on behalf of the customer. The user sets parameters and the bots then get on with the work.”
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