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Walmart Files a Crypto Patent for New Stable Coin

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Walmart to Issue Stable Coin

The retail giant Walmart sparked the interests of the crypto community this week after filing for a blockchain patent in the US. The company seeks to develop a multitude of crypto-related projects based off of a future stable coin. The news follows Facebook’s announcement of a similar strategy and highlights the growing interests of major corporations to enter the digital currency sector.

News of Walmart’s crypto ambitions officially dropped on August 1, via patent filing number 20190236564. According to the document, the company desires a “System and Method for Digital Currency via Blockchain.” Interestingly, the stable coin discussed could be pegged to both fiat currencies and other digital currencies such as Bitcoin. It appears that HODLers aren’t alone in their belief that crypto has the potential to one day become the world’s chosen currency.

Payment system

The patent details a payment system in which Walmart employees are able to avoid high banking fees. In this system, employees receive their paychecks in a Walmart stable coin. Employees could then choose to spend their checks via the participating venders, or of course at Walmart. Additionally, they could choose to convert their earnings into fiat currency to spend elsewhere. Employees could also receive interests for keeping their holdings in the Walmart system. In essence, Walmart could become a blockchain-based corporate bank.

Walmart Corperate Office via Website

Walmart Corporate Office via Website

Banking the Un-Banked

Walmart recognizes this potential. According to the patent, the firm envisions a scenario in which the perks of holding Walmart coins far surpass fiat currency. Your bank can give you interest, but few can give you a discount on your groceries, auto parts, glasses, and everything else Walmart offers. The company could even utilize the system to provide employees with access to credit and debit services via advanced biometrics. Imagine using your retina or fingerprints to purchase your items instead of easily copied plastic cards.

A Complete Blockchain Ecosystem

Walmart executives seek to create a complete blockchain ecosystem. The patent points out that the company possesses both the services and the products to accomplish this task. This forward-looking perspective is necessary when you seek to maintain an effective business model as the digitization of the economy continues.

Walmart Loves Blockchain

For those that follow crypto developments in this sector, the news came as no surprise. Walmart already employs a host of other Blockchain-related systems for testing purposes. Currently, the company has Beta tested numerous projects including supply chain management systems, customer market places, and even smart appliance integration.

Together, these systems could create a futuristic scenario straight out of a sci-fi movie. For example, imagine that your smart fridge notifies your smartwatch that you are running low on milk. At this point, you ask your fridge to order a refill. Your fridge then contacts Walmart and places your order. The order is paid for via Walmart’s stable coin. You even get a discount. Notably, this entire transaction can occur without the use of a traditional bank.

Is Walmart Trying to Rule the World?

It appears that as more people lose faith in government-backed currencies, corporations are ready to take up the slack. When you consider that both Facebook and Walmart are ready to issue cryptocurrencies, it’s obvious that the tides of change are here. The only real question now is – which conglomerate will be the first to successfully issue a cryptocurrency to the masses?

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David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.com

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Siemens to Tackle Green Energy with Swarm Capital

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Siemens to Tackle Green Energy with Swarm Capital

Sustainable Energy

Clean and renewable energy: The concept is simple, however, the execution is anything but. In an effort to aid the continued development and adoption of sustainable energy, worldwide tech giant, Siemens, has turned to a popular blockchain service provider – Swarm.

Today, this pairing of companies announced that Swarm has been tasked with developing an efficient, and effective, solution to facilitate the funding of energy projects in Africa. This task will be completed through use of the company’s recently announced premium tokenization service, Swarm Capital.

While details regarding the partnership are still scarce at this time, this is most definitely a positive announcement. Not only does it mark continued early adoption of Swarm Capital, but also the entrance of a global titan of industry in Siemens, into the world of blockchain.

Swarm Capital

Announced mere weeks ago, Swarm Capital is a service provider platform, offering premium services through a modular platform. This platform, which is built on the Swarm protocol, is meant to be a comprehensive solution for any company looking to tokenize an asset.

SWARM Announces ‘Swarm Capital’ Service Provider Platform

Commentary

In their partnership announcement, the team at Swarm took the time to comment on why blockchain is a good fit with future energy solutions through Siemens. They stated,

“One of the most compelling use cases for tokenization is in the energy sector, which has been brought to the fore lately in public discussions concerned with energy accountability, transparency, and sustainability. The energy industry is abundant with potential use cases — from the tokenization of energy itself to the digital representation of carbon emissions.”

Swarm

Swarm is a U.S. based company, which was launched in 2018. In the time since, the team at Swarm has developed a myriad of services and solutions for the digital securities sector, including specialized token standards, open protocol, and more.

Cofounders, Philipp Pieper and Timo Lehes, currently oversee company operations.

Siemens

Founded in 1847, Siemens has withstood the test of time, establishing themselves as a world leader in manufacturing and tech industries. The company has done this by continually looking towards, and planning for, the future – as evident by the partnership described here today.

CEO, Joe Kaeser, currently oversees company operations.

In Other News

For a few years now, we have seen various companies attempt to integrate green energy and blockchain. We have, in the past, detailed multiple companies that fall into this camp. While integrating blockchain and green energy in a different manner than the development discussed here today, the following articles demonstrate another avenue in which the two sectors can coincide.

CoinMint – Efficient, Green Mining

Elite Mining – The Future of Mining is Green

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CoinShares Issues Gold-Backed DGLD Tokens

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CoinShares Issues Gold-Backed DGLD Token

CoinShares made a splash across the tokenization community this week after announcing a new gold-backed token network. The network will allow investors to take advantage of the stability of gold, whilst still enjoying the added security and efficiency of a blockchain-based system.

How CoinShares New Platform Works

According to CoinShares’ executives, each token represents physical gold. To be exact, each DGLD token is backed by 1/10 Troy ounce. This gold is held by one of Switzerland’s premier precious metal traders MKS SA.

MKS SA – Swiss Precious Metals Trader

For their part, MKS SA will hold the gold reserves and allow for third-party auditing to occur. In total, the firm put aside just over $20 million in gold for the tokenization strategy. Notably, MKS SA already hosts a large precious metal trading network. Consequently, tokenizing their gold provides far more liquidity than traditional EFTs.

PIT Exchange Hosts CoinShares DGLD Tokens

PIT Exchange Hosts CoinShares DGLD Tokens

Speaking on the new tokenization strategy, CoinShares’ Chairman, Danny Masters explained the advantages of the maneuver. For one, gold is considered one of the most stable assets on the planet. Now combine that stability with the security of a blockchain network, and you get a frictionless trading system that has the capabilities to function internationally.

Eliminates 3rd Parties

Masters also discussed how CoinShares eliminates many of the third-party verification systems encountered when investing in Gold EFTs. Each of these verification steps adds costs and time to the total transaction. Now investors can eliminate these delays and save money on fees.

Gold on Bitcoin Blockchain – CoinShares

CoinShares decided to utilize the Bitcoin blockchain as its core anchor for the platform. This was a smart strategy as Bitcoin is the largest and most secure blockchain on the planet. To make the concept a reality, CoinShares incorporated CommerceBlock’s Ocean sidechain.

Sidechains Are the Biz

Sidechains such as Ocean, Liquid, or the Lightning Network allow users to conduct faster transactions with fewer fees. Also, these second layer protocols enable developers to utilize additional functionalities not found on the original Bitcoin blockchain.

Smart contracts are a perfect example of how sidechains benefit Bitcoin. Technically, Bitcoin’s blockchain can handle smart contracts but it’s far less capable than the robust capabilities found in the Ocean sidechain.

Partnered with BTC Wallet Provider – Blockchain

Another key component of the venture is a strategic partnership with the crypto wallet provider Blockchain. Blockchain needed to create a means for investors to store their gold-backed crypto easily and efficiently.

Available Now

CoinShares’ new gold-backed token is open to both retail and institutional investors. Currently, the product is available in 200+ countries via Blockchain’s crypto exchange – PIT. Notably, the platform requires AML and KYC adherence as part of the company’s regulation-friendly approach to the market.

CoinShares

CoinShares is ready to provide clients with a stable alternative in the crypto sector. The firm has years of experience connecting traders with profitable tokens. Now, CoinShares wants to take its experience and enter the tokenized precious metals markets in a major way.  You can expect to see more headlines from these developers as CoinShares’ strategy unfolds over the coming weeks.

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VeVue Signs Partnerswith CBX for Token Launch

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VeVue Partners with CBX Exchange for STO

The blockchain-based social media platform, VeVue announced plans to host an STO in the coming weeks. The company intends to expand the platform’s capabilities with the funds raised. Now content creators have a more lucrative alternative to consider moving forward.

News of the company’s intentions first broke via an October 14 press release. In the post, the company announces its new strategy and partnership. As part of the firm’s new crowdfunding approach, VeVue partnered with the hugely popular CBX exchange.

CBX Exchange

For its part, CBX will be responsible for the sales, token issuance, and distribution of the VUE token. CBX is one of the largest crypto exchanges based in the Middle East. The firm operates a fully compliant EU exchange. Developers integrated both AML and KYC protocols directly into its trading platform.

VeVue via Homepage

VeVue via Homepage

CBX recently launched a campaign with Alibaba competitor GoJoyin in which the platform secured over $10 million in funding. The experience gained in this campaign will be critical for VeVue STO’s success.

VUE STO

The VeVue STO will commence on October 28, 2019, at 4 pm PST. Interestingly, the event is scheduled to only last 48 hours. CBX intends to issue 5 million VUE tokens to qualified non-US investors. Vevue also announced that there will only be 100 million VUE tokens in total available to investors. Of these tokens, 35 million are reserved for investor purchases.

Vevue and CBX Unique Strategy

CBX and Vevue have a unique strategy for their crowdfunding efforts. The company intends to host an STO monthly moving forward. Additionally, these auctions will be Dutch-style. Basically, the official token price is set after taking in all bids.

Highest-Price VeVue STO

This strategy enables the firm to receive the highest price for the total offering. For example, investors place their bids which include the price and quantity they desire. The firm will then accept the top 5 million bids for the tokens.

VUE Token Benefits

VUE token holders receive a portion of gross revenue collected via the VeVue social media app. Consequently, investors actively earn from VeVue’s ecosystem. The App provides content creators with a revenue-generating outlet. Here, users can create and monetize content such as videos easily.

VeVue Transaction Fees

Vevue charges a 5% transaction fee on the monetized content. This fee then enters into the dividend pool from which STO investors receive payments daily. Importantly, dividends are paid in VUE tokens. This unique strategy encourages users to create high-quality content to earn more tokens.

Next Level Social Media

Traditional social media doesn’t allow users the opportunity to earn from their content contributions.  In fact, the current social media giants provide content creators with zero payment for their efforts.

Social Media Heat

VeVue’s timing is impeccable as social media giants such as Facebook continue to confront lawmakers over a myriad of concerns. Facebook, in particular, appears to be in the target of regulators after announcing plans to issue its own native cryptocurrency called the Libra.

A Better Social Media Alternative

VeVue appears to have unlocked a better way to social media for everyone. Providing users with an opportunity to earn tokens for their content is a smart concept that has proved to be a great alternative in the past. You can expect to hear more from VeVue in the coming weeks as its STOs hit the market.

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