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All About Quannabu, the Cryptocurrency Built for the Cannabis Industry

In 2019, merchant processor Fortress Payment Technologies announced that it would no longer be able to accept Visa payments for cannabidiol (CBD) related products. The announcement only gave merchants eight hours’ notice of the change, this is just one example of the many financial hurdles that the cannabis industry has faced when trying to process transactions for cannabis-related products. Unfortunately, because legislation and regulations in the cannabis industry are still evolving, the industry is consistently dealing with these obstacles. To avoid any possible risks, even in areas where cannabis is now legal, most banks, credit card companies, and payment providers will avoid working directly with cannabis transactions. Due to difficulties faced with transactions, many businesses are inclined to use cash as their standard payment method. However, storing cash presents a whole host of problems for businesses. Not only are businesses’ security compromised with the increased possibility of theft, but also their employee’s safety when transporting cash. To provide a solution to the problem the cannabis industry has been facing, London-based startup Quannabu has launched a decentralized payment network for cannabis-related transactions on the blockchain. Quannabu also has a payment platform called Quannabu Pay, which is built on the blockchain and allows businesses and consumers to seamlessly transfer funds without any financial hurdles. The company’s financial solution for the cannabis industry will not only have its own form of cryptocurrency, but also a secure infrastructure in place. Since legislation is still a work in progress for many countries, regulations are constantly changing and have created a complex and sometimes disjointed supply chain. This means that authorities have a harder time tracking the supply of cannabis. Thanks to Quannabu’s blockchain technology, the company has created a product that minimizes illegal activity by allowing law enforcement to track the source and supply of all cannabis products. This means that governments can track the movement of cannabis and stop any illicit circulation in its tracks, creating more space for a safer and regulated marketplace. The transparency into the supply chain that Quannabu provides will not only increase supply chain visibility to law enforcement, but also consumers, manufacturers, and suppliers. Through this solution, the company is increasing trust and creating a safer industry as a whole. In addition to the company’s supply chain solution, token offering, and secure payment platform, it also operates Quannabu Labs, a groundbreaking testing laboratory that is dedicated to CBD-related activities on and off the blockchain—the only operation of its kind in the world. Lastly, the company is also working towards establishing its very own hemp farm, to farm pharmaceutical-grade hemp. The facility will have certified testing equipment so it can consistently and accurately test its plants.

PureVPN Can Help Crypto Users Stay Secure and Access International Exchanges

Crypto users access their wallets and exchanges day in and day out and making sure it remains secure is one of their top concerns. While most of these apps have great security features like multi-factor authentication and biometrics, what happens to your data while it travels through the network is still an area of concern. […

Cardano Price’s Potential Bullish Reversal Eyes At 20% Upswing, Is $3 Pre-Programmed?

The post Cardano Price’s Potential Bullish Reversal Eyes At 20% Upswing, Is $3 Pre-Programmed? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The crypto space after a dreadful of huge losses appears to have set back on track with a decent rebound. The Bitcoin price which was expected to plunge below $40K is now sustained above $43K. And Ethereum price regained $3000 position after slumping down close to $2900. Yet the leader remained Cardano price which withstood …

Everything You Need To Know About Airdrop For XRP Holders

The post Everything You Need To Know About Airdrop For XRP Holders appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The crypto space could have begun with recovery as most of the tokens including XRP price witnessed a decent rebound. XRP holders may get some benefit in the coming days, as a reward to hold XRP through the Flare Network. Flare network works on the Avalanche consensus protocol. It uses a modified form of the …

Bitcoin & Ethereum Options Expiry on September 24th, What Does This Mean for the BTC and ETH Price?

The post Bitcoin & Ethereum Options Expiry on September 24th, What Does This Mean for the BTC and ETH Price? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
Bitcoin and Ethereum have managed to hold their prices above their immediate support levels of $43,000 and $3000, respectively, although this support may be tested soon. Keeping that in mind, another major expiry date for both assets is approaching on September 24th, which could influence the trend direction for Q4 2021.  According to Skew statistics, …

Jax.Network Unveils Blockchain Co-Inventor, Dr. W. Stornetta on Its Advisory Team

As the race for the foremost blockchain solution heats, more crypto projects continue to throw their hats into the ring. The efforts of some blockchain projects cannot be overemphasized. Bitcoin’s influence on the market has facilitated the unparalleled exponential growth that the crypto industry has enjoyed over the last decade. This growth is despite the novel cryptocurrency’s shortcomings. Even though Bitcoin’s dominance by market capitalization has slowly waned over time, its hold over the future of blockchain technology remains ever strong. Jax.Network enters the race, and it has made forward strides since it first appeared on the scene. The latest news out of the camp is Dr. W. Scott Stornetta joining Jax.Network as a project advisor. Why Jax.Network? Jax.Network is a scalable blockchain protocol anchored to the Bitcoin blockchain which runs on the Proof-of-Work consensus mechanism. Jax.Network solves the Blockchain Trilemma that plagues blockchain networks through its four building blocks. It uses a specific merge-mining technique that allows miners to mine multiple shards simultaneously while rewarding them in proportion to their contributions. It is also an open-source project. Hence, other developers can also build projects on the protocol, contributing to the growth of the network. Jax.Network issues two native coins, JAX and JXN, which serve as stable and speculative assets respectively. Jax.Network, which already boasted an impressive international line-up, continues to add more respected names to its team. As part of the team’s efforts to build a hashrate-based stablecoin, it has turned to the services of Dr. W. Stornetta, one of the leading lights of the space. He comes on board as an advisor. Introducing Blockchain Pioneer – Dr. W. Stornetta Dr. W. Stornetta was one of the few people mentioned in Satoshi’s Bitcoin whitepaper – three times – and is widely regarded as a co-inventor of the blockchain. His work in collaboration with Dr. Stuart Haber, where he first mentioned the blockchain and a digital time-stamp to track transactions, was implemented in Satoshi’s Bitcoin blockchain vision. His work was featured in the New York Times in 1995 after receiving the Discover Award for Computer Software in 1992. He has a Ph.D. in physics from Stanford University. He is also an alumnus of MIT, Harvard, and Brigham Young University. These days, Dr. W. Stornetta works as a partner and Chief Scientist at Yugen Partners, a private equity firm that invests in blockchain-based startups. He will lend his expertise and experience to Jax.Network, a company that was established in 2018 and has continued to thrive ever since. Dr. W. Stornetta has been around in the crypto space for a long time, and his presence on the team will also help Jax.Network avoid the pitfalls that have limited earlier visionary projects on their quest to propagate the financial system he pioneered with his work. Dr. W. Stornetta finds the hashrate-pegged stablecoin that the Jax.Network team proposes quite innovative. His record as an industry visionary and experience in the blockchain sphere proves that he knows a worthy project when he sees one. Any project within the blockchain space would benefit from the knowledge and expertise of Dr. Stornetta. Jax.Network finds itself in this coveted position with Dr. Stornetta on its advisory team. While we anticipate the official launch, there are enough reasons to be optimistic that it’ll be worth the wait.

New Crypto Aims to Solve ‘Zimbabwe’s Money Problems Using Blockchain Technology’

The Zimbabwean currency’s collapse in 2008 and record hyperinflation are widely seen as textbook examples of what can go wrong with a centralized currency. For instance, some cryptocurrency enthusiasts — as well as opponents of the fiat currency system in general — have routinely pointed to the Zimdollar’s collapse when arguing for an alternative monetary […

Satoshi Street Shows Signs of Rebound! LINK, DOT, EGLD, and AVAX Eyeing Massive Gains

The post Satoshi Street Shows Signs of Rebound! LINK, DOT, EGLD, and AVAX Eyeing Massive Gains appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The broader cryptocurrency market has seen recovering from recent losses. Bitcoin and Ethereum are showing signs of a rebound while Cardano price is still consolidating within $2.5. Meanwhile, popular altcoins also show signs of recovery with SOL, AVAX, FTX, DOT, and LINK trading positive.  Popular trader and youtube influencer Aaron Arnold has featured top altcoins …

BankerDoge: A DeFi Service Platform Partnering With Other Token Projects

The post BankerDoge: A DeFi Service Platform Partnering With Other Token Projects appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
BankerDoge is an existing Defi service platform that is now launching its own token through DxSale on September 13. Earlier pre-sales have already raised over 1,100 BNB for the project and this launch will be the largest BSC token launch of this month with a goal to raise 3,500 BNB. It is one of the …

VITE’s Listing On WazirX With An Amazing Giveaway Contest

The post VITE’s Listing On WazirX With An Amazing Giveaway Contest appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
VITE is a Smart contract platform based on the DAG, is listed on Wazirx, India’s largest crypto exchange. To celebrate this listing ecvent VITE team has announced a special Giveaway of up to $20,000. The VITE operates a Directed Acyclic Graph, which has zero fees transactions and maximizes speed, dependability, and safety. To do this, …

Bitcoin On-Chain Metric Reveal Interesting Data! Is BTC Price Back on Track?

The post Bitcoin On-Chain Metric Reveal Interesting Data! Is BTC Price Back on Track? appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The week started with creating a lot of upheaval in the crypto space. On 20th September, pNetwork, a cross-chain DeFi platform came up with a tweet revealing that the network has been hacked on Binance smart chain. And hackers stole approximately $12.7 million worth of Bitcoin. Followed by the hack, economic turmoil coming out of …

Cardano Beginners Guide! Everything You Need to Know!

The post Cardano Beginners Guide! Everything You Need to Know! appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
 One of the most talked-about projects in recent times is Cardano, which is the most popular among the crypto masses. The third-generation network is designed to be more effective and the best alternative for the Proof-of-Work networks. Cardano aims to overcome the limitations of the networks behind Bitcoin and Ethereum.  Cardano is named after Italian …

Interview with Adriaan Brink FUNToken CEO On The Future Of Online gaming

Cryptocurrencies and blockchain technology have continued their rapid expansion throughout 2021. These assets and their underlying technology seem to have countless use cases and applications for the benefit of its users. Online gaming has benefited from the rise of this new asset class., an online gaming platform leveraging the power of blockchain technology to offer multiple gaming products. Adriaan Brink, FunToken CEO, talked to us about the platform, its objectives, vision, and opportunities as the crypto industry is constantly has a bigger role in the mainstream. This is what he had to tell us. Q: Can you tell us more about yourself, how did you first got involved with cryptocurrencies, and for those unfamiliar, what is FUN A: I have been involved in online gaming since 1995 when I launched the Liechtenstein lotteries and more recently in crypto with the ICO of BETR – Better Betting in 2017. With BETR we build a completely on-chain sports betting solution – removing the custodial elements of sports betting.  With the merger of BETR and FUN earlier this year we are now able to bring some of this technology to FUN. Q: The Ethereum network has experienced high levels of congestions and expensive transactions fees, how does FUN Token improve the user experience? Have you considered migrating to another blockchain, such as Solana or Polkadot? A: FUN is an Ethereum based gambling token that has also been around for the past 4 years.  Given the gas costs and latency on the Ethereum blockchain, a decision was made earlier this year to create a new “wrapped” token on the Polygon blockchain so that we could enable our visions for removing custodial elements from gambling.  The new token is branded “XFUN” and will go live later this month. It will be minted on a 1:1 basis with an escrow of FUN, so the more XFUN that exists the less FUN will be available in trading circulation. Q: How do you envision the future of online gaming, and what role will play in that context? A: The current crypto environment is in many ways reminiscent of the early internet years (1995) where access was for geeks and the whole system was to many seen as niche.  That all changed and today the internet is a part of everyone’s lives.  I see crypto in the same light – we will work toward removing the technical challenges so that the average non-tech user can participate.  Ultimately it will be the way that things happen.  FUN is well-positioned as the leading gambling crypto to pave the way in this respect. Q: In recent months, non-fungible tokens (NFT) led a new wave of crypto adoption, do you think there is room to integrate these assets into your platform? What is the next step for FUN Token that will contribute to the disruption of online gaming? A: It is not clear to me at this stage how NFTs fit within our ecosystem, but of course, we keep an open mind and will be quick to adopt new technologies as they mature.  Right now our focus is on adding entertainment and betting opportunities to the FUN/XFUN ecosystem and building the user base.  Ultimately the value of any crypto ecosystem is dependent on the level of adoption. Q: How many people hold FUN, and how do they benefit from your token burn strategy? What are the incentives to keep holding the token? A: There are currently around 87,000 holders of FUN.  In addition to this, there are 190,000 holders in the premium membership program (a custodial solution).  With the move to XFUN, these holders will be encouraged to move their tokens to non-custodial wallets and join in the fun across a network of casinos and other gaming sites.  All sites that are operated through Funtoken have pledged to contribute 50% of net profits to a token burn event to be held quarterly, the first of these burns take place at the end of September 2021. Most importantly – the value of the token will ultimately be determined by the amount that is being used for the underlying utility – playing on casinos and other games. As this utility supply (which will be directly related to the number of XFUN on issue) increases the token value will need to increase to match demand. Q: NFTs, gaming, real state, what do you think will trigger the final move for crypto and blockchain technology to be fully embraced by the world? Do you believe FUN Token is a platform that could onboard millions of users? A: I believe it’s all about usability.  This means providing opportunities for the tokens to be used in verticals that are synergistic and leveraging partnerships such as our relationship with to bring in participants.  With nearly 50M players they provide access to a substantial user base and traffic which will help FUN get to mass adoption rapidly. Q: In the past days, the U.S. SEC Chair, and other politicians have expressed concerns about Bitcoin, stablecoins, and cryptocurrencies in general. They referred to the crypto market as “The Wild West”, as the head of a crypto project, what do you think about the possibility of new regulations coming into the industry? What do you think it’s the best approach for the regulator? A: I am not a regulator and so would rather not comment on what they should do.  Ultimately the crypto markets are already becoming more and more regulated where they touch on the “real world” in areas such as cashiers and exchanges relating to banking.  No doubt this will continue. Q: FUNToken has been expanding in the past months, with important partnerships with Free, Travala and Binance, what can your community expect in the coming months in terms of partnerships? And where do you think the platform will be in 2022? A: We will be adding more gambling opportunities and fine-tuning the user interface for XFUN.  By creating a user-friendly, zero gas environment on the Polygon network we enable the seamless interchange of funds between our users and participating entities.  We will be launching a B2B drive later this year to substantially increase the places where XFUN can be used and drive liquidity and users into the token.  It is important to remember that XFUN=FUN – for every XFUN issued one FUN will be escrowed, so the increase in usage of XFUN will directly impact the tokenomics for FUN.

Pnetwork Protocol Gets Hacked, Loses 277 Bitcoin on Binance Smart Chain

Pnetwork, a multi-chain bridging protocol, announced it was hacked yesterday, losing 277 pbtc (its bridged version of bitcoin) on Binance Smart Chain. The protocol acknowledged that an attacker managed to exploit a bug in its codebase to take control of the stolen bitcoin. The bridging contracts are currently working as usual but with extra security […

Biggest Bank in Venezuela Suffers 5 Day Outage After Hack Attempt

The Bank of Venezuela, one of the biggest state banks in the country, is now experiencing an outage that has left its customers without services for five days. The bank published a PR statement stating this was the result of a “terrorist attack” on the national financial system, being perpetrated in the form of a […

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