ICO Planned by Owner of Burj Khalifa – World’s Tallest Building

The company has not released further detail about the ICO but it has announced that the initial coin offering for the Emaar community token is intended …

Last Updated on March 14, 2019

Emaar Group is one of the largest real estate companies in the United Arab Emirates and is also the firm behind the approximately 3,000 feet tall UAE icon Burj Khalifa. According to an announcement made by the real estate company earlier this week, Emaar Group is planning to develop a crypto token for its partners and clients by the end of 2019. The “Emaar community token” is meant to be presented in an ICO (initial coin offering) ultimately, according to the company.

According to an announcement, Emaar Group has engaged in a potential partnership with Lykke AG – a Swiss crypto startup. Lykke AG will be developing an ethereum-based token in accordance with the ethreum network’s ERC-20 (Ethereum Request for Comment) standard. The token is meant to act as a referral and loyalty system that will reward the owners for their actions in favor of the company.

After the ICO, the owners of the token will be able to redeem rewards at any of Emaar Group’s holdings including its online shopping venues, malls, entertainment facilities, and others. The real estate group is hoping to reach a whopping figure of 1 billion users of the community token.

The company has not released further detail about the ICO but it has announced that the initial coin offering for the Emaar community token is intended to be concluded within 12 months of its launching. The company also hasn’t revealed an estimate of how many financial resources does it intend to generate with the ICO. Moreover, the community token will be offered to European buyers only. There is also no confirmation whether the digital coin is intended to be traded on cryptocurrency exchanges or not.

Mohamed Alabbar, chairman of Emaar Properties, says the company is looking to extend the experience that it offers to its customers and partners. The chairman stated, “We have embraced the digital world even as we continue to build the most advanced and innovative physical structures and we use both to delight and benefit our customers and stakeholders globally. The Emaar community token marks a significant leap in our digital transformation journey.”

It is also worth noting that Emaar’s goal of 1 billion isn’t impossible at all. The company has a large community of stakeholders and countless customers. Apart from owning Burj Khalifa, the real estate company also owns Dubai Mall – the second largest mall in terms of area, The Dubai Fountain, and the Dubai Opera among several other properties.

On the other side, Lykke AG is also very much ready to take on a crypto project of such a large magnitude. Richard Olsen, CEO of the crypto startup said in a statement that the company is developed a cutting-edge infrastructure and it is ready to serve mass users. The chief also added, “We are thrilled to leverage our experience and expertise to support Emaar’s mission to bring value and utility to millions of users globally.”

Thailand approves first ICO portal, targets STOs next

The country’s Securities and Exchanges Commission (SEC) has approved the first initial coin offering (ICO) portal. And the commission isn’t stopping …

Thailand has stepped up its efforts to become a blockchain and cryptocurrency hub. The country’s Securities and Exchanges Commission (SEC) has approved the first initial coin offering (ICO) portal. And the commission isn’t stopping there, promising to look into Security Token Offerings (STOs) next.

The portal will bring certainty to an industry that hasn’t had any. It will screen ICOs, ensuring that they abide by the law. It will also conduct due diligence on the ICOs, as well as prove smart contract codes. The portal will also come in handy in verifying the know-your-customer process.

However, it’s not all done and dusted just yet, Archari Suppiroj told the Bangkok Post. Suppiroj is the director of the fintech department at the country’s SEC. The portal still has to get the approval of the relevant government agencies, such as the Commerce Ministry.

Suppiroj also revealed that the regulator had picked a foreign company to partner with on the initiative. She refrained from revealing the identity of the said company. The commission had picked the company from a pool of 7-8 applicants.

The Thailand ICO market has matured over the years, necessitating the platform, Suppiroj said. A few years ago, ICOs were all about sensationalism with no tangible ideas. However, the industry now accounts for physical assets such as real estate.

“The first ICO deal will be available for public offering in the near future under the digital asset royal decree,” she believes.

This is only the first step, with the commission targeting STOs next. Currently, STO issuers must apply for a license as securities operations are supervised under the Securities and Exchange Act.

“In the future, the SEC will issue a criteria that allows companies to apply tokenization to securities and other assets,” Suppiroj added.

The regulator will issue guidelines to support tokenization of different assets. To further support the STOs industry, the SEC will also change the roles of some of the stakeholders such as financial advisers and underwriters.

Last month, the country’s parliament approved the issuance of scripless and tokenized securities. This will allow the trading of stocks and bonds on the blockchain.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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Artists are Set to Benefit Quite Dramatically from Blockchain Claims Ethereum Co-Founder

Speaking of Civil, it announced its official launch only earlier this month despite going through a disappointing initial coin offering (ICO) last year.

The blockchain technology has come a long way from being solely known as the underlying technology of Bitcoin (BTC). It has in fact evolved into an independent entity, constantly offering various use cases to industries across the board, from financial to tech, to education and to even the entertainment industry, nothing seems to be unaffected by this technology. And now content creation and journalism can also be added to the list.

According to Joseph Lubin, the co-founder of Ethereum (ETH) and the mastermind behind ConsenSys, the blockchain technology and decentralization has the potential to benefit the people working in the content creation and journalism circuit.

In a video on March 12, Lubin spoke about several different industries that are reaping the benefits from the blockchain technology, and he made sure to include the industries of art, journalism and content creation. While speaking of the art industry, he specifically added that artists are “set to benefit quite dramatically” from blockchain.

He went onto explain further that blockchain actually gives artists the power to attach policies and specifications as to how their content is consumed and further shared, in the sense of derivative works, streaming, public performances, etc. Owing to its nature, blockchain eliminates the middlemen in this process as well.

I think artists in the music industry on average capture about 11 or 12 percent of the value in the industry and those big record companies are sucking up 70 or so percent. We can replace those record companies with smart contracts on the Ethereum platform.

However, Lubin did go on to add that blockchain doesn’t eliminate all kinds of intermediaries, there still will intermediaries like promoters but they won’t be able to “get to a commanding position where they’re extracting enormous rents just because of their intermediary role.”

With regard to the journalism industry, Lubin focused on the possibility of brining back “ethics to journalism” through blockchain-powered platforms like Civil, that could help the “gutted” industry deliver content directly to the consumer.

If they break that pledge in some way, their readership, their listenership can call them to task, can challenge their stake and potentially have them bumped off the platform.

Speaking of Civil, it announced its official launch only earlier this month despite going through a disappointing initial coin offering (ICO) last year. The blockchain-powered platform aims to provide an alternative business model to the journalism industry.

Civil now allows its participants to purchase Civil membership, including CVL tokens which will represent members’ voting power within the Civil ecosystem.

For further updates stay tuned to BlockPublisher.

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Verdict due in Mt. Gox bitcoin case after prosecutors lay out claims of lavish spending by CEO …

The disappearance left a trail of angry investors, rocked the virtual currency community and dented confidence in the security of bitcoin. At one point …

The former high-flying head of collapsed bitcoin exchange Mt. Gox will learn his fate Friday as a Tokyo court hands down its verdict on charges of faking digital data and embezzling millions of dollars.

Prosecutors have called for a 10-year jail sentence for French-born Mark Karpeles, 33, who denies the charges.

Karpeles is alleged to have repeatedly manipulated computer data over several years while embezzling a total of ¥341 million ($3 million) of clients’ money deposited at the company.

Prosecutors claim he splashed the embezzled money on a 3D-printing software business unnecessary for Mt. Gox, as well as on personal expenses, including some ¥6 million ($54,000) for a canopy bed.

He also spent millions of yen on arranging overseas trips for his estranged wife, as well as utility bills and cleaning services at his luxury apartment, prosecutors allege.

Mt. Gox was shut down in 2014 after 850,000 bitcoins, worth an estimated ¥48 billion at the time, disappeared from its virtual vaults, a mystery that remains unsolved.

The disappearance left a trail of angry investors, rocked the virtual currency community and dented confidence in the security of bitcoin.

At one point, Mt. Gox claimed to be handling around 80 percent of all global bitcoin transactions.

The spectacular failure of the exchange caused a dramatic slump in the value of bitcoin, but the cryptocurrency rallied to an all-time high above ¥2 million in December 2017 before dropping off sharply.

Japan issued new regulations after the Mt. Gox case, but the exchange Coincheck was forced last year to refund customers more than ¥46.6 billion in virtual currency that disappeared from its holdings.

During the trial, Karpeles apologized to customers for the company’s bankruptcy but denied both data falsification and embezzlement.

“I swear to God that I am innocent,” Karpeles, speaking in Japanese, told the three-judge panel hearing when his trial opened.

Karpeles has said the bitcoins were lost due to an external “hacking attack” and later claimed he had found some 200,000 coins in a “cold wallet” — a storage device not connected to other computers.

“Most people will not believe what I say. The only solution I have is to actually find the real culprits,” he told reporters after the hearing.

The charges against the former CEO are not directly related to how the Mt. Gox losses came about.

Satoshi Mihira, chief attorney at Mizuho Chuo law firm, said, “If it was an outside hacker who stole the currency, it’s a problem. But if he stole even part of the money, it would be embezzlement.”

“His defense counsel needs a high level of evidence to win an innocent verdict,” he said.

“If he’s found guilty, it is possible he will get a jail term considering the significant money losses (suffered by customers),” said the lawyer, an expert on cryptocurrency issues.

The odds are stacked against Karpeles as the vast majority of cases that come to trial in Japan end in a conviction.

The Frenchman was first arrested in August 2015 and, in an echo of another high-profile case against former Nissan chief and compatriot Carlos Ghosn, was re-arrested several times on different charges.

Karpeles eventually won bail in July 2016 — nearly a year after his arrest — reportedly paying ¥10 million to secure his freedom pending a trial, which began in July 2017.

During his time on bail, Karpeles has been active on social media — notably voicing doubts about bitcoin and replying to some media questions about conditions in Japanese detention centers.

However, he has largely avoided commenting on his case in detail.

The court is expected to issue a verdict Friday and, if it finds Karpeles guilty, will likely hand down a sentence at the same time.

However, even if he were to lose the case, he has the right to appeal, which would keep him on bail.


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Pal Network Price Changed by -4.63 percent

As at 2019-03-14 average Pal Network price is 0.00483158 USD, 0.00000124 BTC, 0.00003635 ETH. Pal Network PAL/BTC on Bittrex exchange is …

As at 2019-03-14 average Pal Network price is 0.00483158 USD, 0.00000124 BTC, 0.00003635 ETH.

Pal Network PAL/BTC on Bittrex exchange is 0.00. The trading volume on Bittrex is 112449.23.

At the same time Pal Network PAL/BTC on KuCoin exchange is 0.00. The trading volume on KuCoin is 15748.77.

Pal Network PAL/ETH on CoinBene exchange is 0.01. The trading volume on CoinBene is 4776.52.

It’s noteworthy that is issued into circulation Pal Network.

Pal Network average change within 24 hour is -4.63 against USD, -4.62 against BTC, -3.66 against ETH. Weekly report: 19.27 against USD, 19.23 against BTC, 23.64 against ETH. Monthly report: 21.38 against USD, 14.02 against BTC, 10.85 against ETH.

In this regard, 24 hour trading volume is 259481.59913539 USD or 66.59460941 BTC. At the same time Pal Network market capitalization is 2946846 USD or $756 BTC.

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