Coinbase announces USDC Bootstrap Fund to support DeFi projects – gpgmail


Coinbase is announcing a new initiative called the USDC Bootstrap Fund. As the name suggests, the company wants to support developers with a fund composed of USDC tokens.

DeFi, or Decentralized Finance, is a recent trend in the blockchain space. DeFi projects are traditional financial products that you’d expect from a traditional bank, such as lending protocols and derivatives, built on top of a blockchain.

Thanks to the decentralized nature of these protocols, it’s harder to censor them and more people should theoretically be able to access those services.

Going back to Coinbase, the company thinks there’s not enough liquidity for some DeFi protocols. The startup wants to improve that by investing USDC directly in DeFi protocols. Those investments are smart contracts, and returns should be provided by a counterparty, such as a borrower or taker.

In other words, it’ll become much easier to borrow USDC using some DeFi protocols as Coinbase is providing a pool of USDC tokens. Counterparties will have to provide crypto collateral and pay some interest rate.

Coinbase is also announcing its first two investments through the USDC Bootstrap Fund. The company is handing 1 million in USDC to Compound, and 1 million in USDC to dYdX.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Elliptic banks $23M to shrink crypto risk, eyeing growth in Asia – gpgmail


Crypto means risk. To UK company Elliptic it also means business. The startup has just closed a $23M Series B to step up growth for a crypto risk-management play that involves selling tech and services to help others navigate the choppy darks of cryptocurrencies.

The round was led by financial services and asset management firm SBI Group, a Tokyo-based erstwhile subsidiary of SoftBank . Also joining as a new investor this round is London-based AlbionVC. Existing investors including SignalFire, Octopus Ventures and Santander Innoventures also participated. SBI Group’s Tomoyuki Nii and Ed Lascelles of AlbionVC are also joining Elliptic’s board.

Flush with a sizeable injection of Series B capital, Elliptic is especially targeting business growth at Asia — with a plan to open new offices in Japan and Singapore. It says client revenues in the region have risen 11x over the past two years.

We last spoke to Elliptic back in 2016 when it had just raised a $5M Series A.

The 2013-founded startup began by testing the crypto waters with a storage product before zeroing in on financial compliance as a pain-point worth its time. It went on to develop machine learning tech that screens transactions to identify suspicious patterns and, via them, dubious transactors.

Now it offers an integrated suite of products and services for financial institutions and crypto businesses to screen volumes of crypto-flows that sum to billions of dollars in transactions per day — analyzing them for links to illicit activity such as money laundering, terrorist financing, sanctions evasion, and other financial crimes.

It’s focused on selling anti-money laundering compliance, crypto forensics and cryptocurrency investigation services to the private sector — though has also sold tools direct to law enforcement agencies in the past.

Billions of dollars in financial services terms is of course just a tiny drop in a massive ocean of money movements. And growth in the crypto risk-management space has clearly required more than a little patience, from a startup perspective.

Three years ago Elliptic’s first blockchain analytics product had 10-20 Bitcoin companies as customers. That’s now up to 100+ crypto businesses and financial institutions using its products to shrink their risk of financial crime when dealing with crypto-assets. But the more three than year gap between Elliptic’s Series A and B is notable.

“To date, we’ve focused on product development and assembling the right team as the market has matured. This new funding will help us expand in the right way, namely by making the push into Asia without diluting our focus on the US and EMEA,” says co-founder and CEO James Smith when asked about the gap between financing rounds.

He declines to comment on how far off Elliptic is from achieving breakeven or profitability yet.

“We provide best-in-class transaction monitoring products for crypto-assets, which are trusted by crypto exchanges and financial institutions worldwide,” he adds of its product suite. “Our products are used as key components of larger compliance processes that are designed to minimise money laundering risks.”

With the addition of SBI Group to its investor roster Elliptic gains a strategic partner in Asia to help push what it dubs “bank-grade risk data” at a new wave of established financial institutions it believes are eyeing crypto with growing appetite for risk as larger players wade in.

Larger players like Facebook . Elliptic’s PR name-drops the likes of Facebook’s Libra cryptocurrency, Line Corporation’s LINK and central bank digital currencies, as markers of a rise in mainstream attention on crypto assets. And it says Series B funds will be used to accelerate product development to support “an emerging class of asset-backed crypto-assets”.

Regulatory attention on crypto — which has been rising globally for years but looks set to zip up several gears now that Facebook has ripped the curtain off of an ambitious global digital currency plan which also has buy-in from a number of other household tech and fintech names — is another claimed feed in for Elliptic’s business. More crypto implies growing risk.

It also points to the intergovernmental Financial Action Task Force’s global regulatory framework for crypto-assets as an example of some of the wider risk-based requirements and now wrapped around those dealing in crypto.

The focus on Asia for business expansion is a measure of relative maturity of interest in opportunities around crypto-assets and localized attention to regulation, according to Smith.

“Revenue growth is certainly very strong in this region. We have been working with customers in Asia for a number of years and have seen first-hand how vibrant their crypto-asset ecosystems are. Countries such as Singapore and Japan have developed clear crypto-asset regulatory frameworks, and businesses based in these countries are serious about meeting their compliance obligations,” he says.

“We have also found that traditional financial institutions in Asia are particularly keen to engage with crypto-assets, and we will be working with them as they take their first steps into this new asset class.”

“We believe that crypto-assets will play an increasingly important role in our everyday lives and are shaping the future of banking. Our investment in Elliptic is a further commitment to this belief and to SBI Holding’s appetite to help build the digital asset-related ecosystem,” adds Yoshitaka Kitao, CEO of the SBI Group, in a supporting statement.

“Elliptic’s pioneering approach is enabling the transparency, integrity, and trust necessary for this vision to become reality. We are seeing a growing demand for their services across our portfolio of crypto-assets related companies and view Elliptic as best-placed to meet this considerable opportunity.”

While Elliptic’s business is focused on reducing the risk for other businesses of inadvertently transacting with criminals using crypto to launder money or otherwise shift assets under the legal radar, the proportion of transactions that such illicit activity represents in the Bitcoin space represents a tiny fraction of overall transactions.

“According to our analysis, approximately $1BN in Bitcoin has been spent on the dark web, so far in 2019, on items ranging from narcotics to stolen credit cards. This represents a very small share of all Bitcoin activity — less than 0.5% of Bitcoin payments over this period,” says Smith.

Not that that diminishes the regulatory risk. Nor, therefore, the business opportunity for Elliptic to sell support services to help others avoid touching the hot stuff.

“Crypto money launderers are continually developing new techniques to cover their tracks — from the use of mixers to transacting in privacy coins such as monero,” Smith adds. “We are also constantly innovating to keep pace with this and help our clients to detect money laundering. For example our work with researchers from MIT and IBM demonstrated the application of deep learning techniques to the identification of illicit crypto-asset transactions.”


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Who gets to own your digital identity? – gpgmail


“On the Internet, nobody knows you’re a dog,” was stated in the legendary New York Times cartoon that captured the spirit of privacy and anonymity in the early days of the internet. Even though anonymity is still a hot topic and sought after in the online world, times have changed. With the rise of online banking, social media, e-commerce and peer-to-peer services, a verified digital identity is a crucial ingredient in making any digital platform succeed.

Banking is one of the areas where the ability to verify one’s identity in a secure and compliant manner is a prerequisite to access basic services. Looking at the unbanked population of the world today, it is estimated that as many as 1.5 billion people lack access to everyday banking services due to their inability to prove their identity through a valid birth certificate, passport, proof of residency through utility bill or some other means to fulfill traditional KYC procedures.

In addition to accessing digital banking, most of us also have verified our identity through a plethora of services like Google, Facebook, Blizzard and the list goes on, through various means of identity verification that make up an interlinked web of interdependencies, where one of your identities vouch for your eligibility to access another service. Two-factor authentication or biometric identification often rely on your mobile phone, and when you choose to log in with Facebook, you authorize Facebook to represent you online. While this is often convenient for easy and quick access to the latest mobile app you want to try out, you are paying a price by allowing Facebook to share and sell not only your data but also your digital identity.

However, your digital identity is more than your login credentials. This is merely the authentication that connects you with the digital you. Your digital identity consists of thousands of data points that make up a profile of who you are and your preferences. Today, your digital identity is scattered all over the internet, where Facebook owns our social identity, retailers own our shopping patterns, credit agencies hold our creditworthiness, Google knows what we have been curious of since the dawn of the internet and your bank owns your payment history. As a result, we are all analyzed in detail to predict our future behavior and monetize our digital identities.

A verified digital identity is a crucial ingredient in making any digital platform succeed.

Not only do we lack ownership of our own data, but our fragmented digital identities where various third parties own bits and pieces only gives part of the picture, and also proposes vulnerabilities for those third parties. As an example, fraudsters have started to take advantage of this in countries with no national identifier by creating synthetic digital identities by signing up digital services and applying for credit. Even though the initial credit application is rejected, a credit file is automatically created, thus creating a digital paper trail for a non-existing person. With approximately 10 million new consumer credit files generated in the U.S. each year, synthetic identities can be very difficult to detect. Over time, these synthetic identities gain access to credit, and bank losses due to synthetic fraud are estimated to amount for somewhere between $1 billion and $2 billion each year.

In the wake of numerous exposures of how our data is exploited, with Cambridge Analytica as the most notable example, privacy becomes an increasing concern for the public, as well. Apple seeks to leverage this attention to digital privacy by taking a radically different approach than their counterparts with “sign in with Apple,” where privacy is the main selling point for using their service instead of Google and Facebook.

Blockchain is often proposed as the silver bullet to solve all our digital identity needs, something that has caught the attention of Mark Zuckerberg that addresses what he sees as the pros and cons of a decentralized approach to digital identity. As Facebook represents a quintessential man in the middle, losing ownership of all our identities is most likely the biggest con of a decentralized approach to digital identity in the eyes of Zuckerberg.

With the upcoming launch of Facebook’s cryptocurrency, Libra, the company has the potential to further strengthen its position as a leading provider of a global digital identity solution. Often overlooked with most of the attention directed toward the cryptocurrency, many point to the decentralized identity associated with Libra as the most interesting aspect of Facebook’s plans. A passage hidden away near the bottom of the documentation states: “An additional goal of the association is to develop and promote an open identity standard. We believe that decentralized and portable digital identity is a prerequisite to financial inclusion and competition.”

There is too much at stake when it comes to our digital identities to remain unvigilant.

A consolidated and verified digital identity would be beneficial to both users and providers of digital services. However, allowing Facebook or The Libra Association to be the custodian of our consolidated digital identity is a sinister trail for the future of both privacy and democracy.

On the other hand, the Holy Grail of decentralized identity, often named a self-sovereign identity, has its weaknesses, namely ourselves as human beings. We tend to be forgetful, and sometimes downright unreliable. Letting users keep the only key to access their digital identities is a recipe for disaster the moment someone forgets their password or pass away. There is nobody to call and no Forgot Password button to reclaim the ownership of the identity.

It is difficult to envision a future of digital identity without relying on some kind of identity custodian that maintains a verified connection between your physical and digital self, ensures that no data is used without consent, monitors malicious behavior and provides user support in case of a lost key. This is far from an easy solution and should be provided by a regulated entity. One thing is for sure, such a solution relies on trust and must give the end user full ownership of their own data, similar to data portability under GDPR.

There is too much at stake when it comes to our digital identities to remain unvigilant of what is going on, as shown numerous times through both data breaches where our personal data is compromised and manipulation of public opinion through social media.

No matter which technology or appointed custodian we deploy to solve this, our identities should belong to we the people rather than one corporation or consortium of corporations that seek to exploit our data for profit.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

India’s Reliance Jio inks deal with Microsoft to expand Office 365, Azure to more businesses; unveils broadband, blockchain, and IoT platforms


India’s Reliance Jio, which has disrupted the local telecom and features phone businesses in less than three years of existence, is now ready to aggressively foray into many more businesses with the help of global giants including Microsoft.

In a series of announcements, the subsidiary of India’s largest industrial house Reliance Industries today said it will commercially launch its fiber-optic broadband business next month, an IoT platform on January 1, 2020, and “one of the world’s biggest blockchain networks” in the next 12 months.

The broadband service, called Jio Giga Fiber, is aimed at individual customers, small and medium sized businesses, as well as enterprises, Mukhesh Ambani, Chairman and Managing Director of Reliance Industries, said at a shareholders meeting Monday. The service, which will be available starting September 5, will offer free voice calls, high-speed internet and start at Rs 700 per month.

Continuing its tradition to woo users with significant offers, Jio said customers who opt for the yearly-plan of Giga Fiber will be provided with the set top box and a HD TV at no charge.

Partnership with Microsoft

The company also announced a 10-year partnership with Microsoft to leverage the Redmond giant’s Azure, Microsoft 365, and Microsoft AI platforms to launch new cloud datacenters in India to ensure “more of Jio’s customers can access the tools and platforms they need to build their own digital capability,” said Microsoft CEO Satya Nadella in a video appearance Monday.

“At Microsoft, our mission is to empower every person and every organization on the planet to achieve more. Core to this mission is deep partnerships, like the one we are announcing today with Reliance Jio. Our ambition is to help millions of organizations across India thrive and grow in the era of rapid technological change…”

“Together, we will offer a comprehensive technology solution, from compute to storage, to connectivity and productivity for small and medium-sized businesses everywhere in the country,” he added.

As part of the partnership, Nadella said, Jio and Microsoft will jointly offer Office 365 to more organizations in India, and also bring Azure Cognitive Services to more devices and in many Indian languages to businesses in the country. The solutions will be “accessible” to reach as many people and organizations in India as possible, he added.

The first two data-centers will be set up in Gujarat and Maharashtra by next year. Jio will migrate all of its non-networking apps to Microsoft Azure platform and promote its adoption among its ecosystem of startups, the two said in a joint statement.

Ambani also said Jio is working on a “digital stack” to create a new commerce partnership platform in India to reach tens of millions of merchants, consumers, and producers.

The announcement comes weeks after Reliance Industries acquired majority stake in Fynd, a Mumbai-based startup that connects brick and mortar retailers with online stores and consumers, for $42.3 million.

More to follow…


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something

Blockchain (the company) launches an exchange (The Pit) – gpgmail


The company called Blockchain is mostly known for its cryptocurrency wallet. Today, the company is also launching an exchange so that you can buy and sell cryptocurrencies without going through a third-party exchange.

The company’s exchange is called The Pit and is focused on mainstream adoption and ease of use. It is available in 200 countries with support for a handful of cryptocurrencies and fiat currencies.

When it comes to depositing money in your account, The Pit currently supports USD, EUR and GBP via bank transfers. You can then buy and sell a handful of crypto assets — BTC, ETH, BCH, LTC, USDT and PAX.

Behind the scene, Nicole Sherrod has been heading the product for a year. She worked at TD Ameritrade and E*Trade in the past. And the company has opted for dedicated servers instead of a more traditional public cloud infrastructure, such as Amazon Web Services or Microsoft Azure.

The startup is waving trading fees for the first 30 days. After that, in addition to spread, you’ll pay 0.24% in taker fees if you trade less than $100,000 per month, and 0.14% in maker fees. Fees get lower after that threshold, but you should probably consider an OTC desk for large transactions.

That’s 0.01 percentage point lower than Coinbase Pro fees, 0.02 percentage point lower than Kraken fees if you trade less than $50,000 per month and on par with Kraken fees if you trade between $50,000-$100,000. Binance fees are lower, but I don’t think The Pit and Binance address the same market.

Integration with Blockchain wallets will foster adoption compared to other companies starting an exchange from scratch. Blockchain users have created 40 million wallet so far. And those users can connect to The Pit using their Blockchain account. The company has developed a new Blockchain Connect API for this feature.

Disclosure: I own small amounts of various cryptocurrencies.


10 minutes mail – Also known by names like : 10minemail, 10minutemail, 10mins email, mail 10 minutes, 10 minute e-mail, 10min mail, 10minute email or 10 minute temporary email. 10 minute email address is a disposable temporary email that self-destructed after a 10 minutes. https://tempemail.co/– is most advanced throwaway email service that helps you avoid spam and stay safe. Try tempemail and you can view content, post comments or download something