Coins300 managed to interview Tan Ji Sheng, Co-founder of Trivechain Technology last week at BLOCONOMIC 2018 . Tan Ji Sheng, the co-founder of Trivechain Technology shares a detailed definition of Trivechain Technology, Trivecoin and Triveacademy.

What is Trivecoin?

Trivechain is the blockchain of Trivecoin, a core system of Trivecoin that allows new businesses to market their products or services on the Trivecoin community, and generate native tokens effectively through Trivecoin’s BizContract.

Before we continue expressing the true proud blockchain startup…

Coins300 would love to congratulate Trivechain with the signing of several MOU with some of the ecosystem partnership like Setia Haruman to establish the 1st ever Blockchain Hub in Malaysia, where located at the Centre of  Cyberjaya. Not only that, Trivechain also signed MOU with Maxxcoin on Transformation Blockchain Technology to revolutionize Automotive industry.

Let’s get back to the topic!

Coins300 asked the co-founder of Trivechain:

Triveacademy is going to start in Cyberjaya. So what are the mission and goals?

Tan Ji Sheng replied Triveacademy is trying to nurture the local talents. So for those who are in business or start-ups, they are able to learn productively to bring their start-up to another level. As for general public, Trivechain would love to educate them on the basics of Blockchain and the differentiation of coins and tokens. As we know, it can be differentiate as Coins with Protocol as well as ERC Token and most importantly what are people buying into.

Tan Ji Sheng quoted

Pretty much we are like a phase of dot com boom in about 1998 where everyone just spend money as long as it is Blockchain! So, we really want to educate the general public and would love to invite students with IT background to guide them on putting their ideas using the Blockchain.

Triveacademy will be focusing on Blockchain education in Malaysia?

Tan Ji Sheng replied Triveacademy is an educational hub where they are collaborating with universities, lecturers, and university students on research and development on how they can educate and further bring Blockchain technology into public.

How do crypto exchanges work?

Basically, crypto exchanges work similarly to regular stock exchanges. The difference is that, on a stock exchange, traders buy and sell assets — shares or derivatives — in order to profit from their changing rates, while on crypto exchanges, traders use cryptocurrency pairs to profit from the highly volatile currency rates.

But why do crypto exchanges have different prices?

Because exchanges are not connected. Prices vary depending on the buy and sell activity on each one of these exchanges.

Every exchange calculates the price of Bitcoin based on its own volume of trades, as well as supply and demand of its users. This means that the bigger the exchange, the more market-relevant price you get.

There is no such thing as a ‘stable’ or ‘fair’ price for Bitcoin or any other coin — it’s always determined by the market at each particular moment.

With Artificial Intelligence and Blockchain Technology emerging to our world, Coins300’s Julia an airbot reporter managed to speak to the Largest Digital Asset Exchange in Australia, Lucy Chen, COO of Bit Rabbit.

So, BitRabbit is the Largest Digital Asset Exchange in Australia that it’s decentralized and uses an algorithm called extreme proof of stake in order to verify transactions. This algorithm builds upon the familiar proof of stake method which ensures that block creators are chosen at random, but it introduces the concept of preferring users with greater bandwidth in order to improve the speed with which the network can approve transactions. This is an interesting innovation which the company claims will be able to handle over one million transactions each second.

Mogu is also pronounced as “蘑菇🍄” in Mandarin. Founded in January 2015 and with a valuation of more than 100M (as of May 2017), MOGU has sold an estimated 5000 smart routers to date.

Their mission is to make internet affordable, accelerated and accessible through their disruptive smart-router technology. Our home routers usually sits idly up to 18hours per day, with the Mogu Smart Router™ it will be able to use this downtime to perform big data revenue generating tasks. So the Mogu Smart Router™ user receives a portion of the revenue for the work completed by their router in the form of Mogu Token.

On the 17th of August during BLOCONOMIC 2018, Mogu’s Head of Business Development, Sam Hourigan shares with us some of MOGU’s missions and goals.

“We are moving towards everything as service. So, we want to inspire the dreams as developer of the world and bring what is tightly controlled industry into a more open industry to allow people to get access to data services.”

He also added,

“Decentralized nature is very important to us and it’s bringing power back to the people. We really want to build a community that’s able to step into our future and with our smart router, it is cheaper and more effective to access data. And also we pay the owners of each router for the use of the server services that we provide. So, as we are processing the server services through each one of the routers, we are giving back to the people who owns it. Which means it’s part of our community and moving forward it’s not about the corporate, but its everyone in the world.”

Not only that,

He shares some of his point of view on the differences of the Blockchain scene in Malaysia and Australia.

“I think on the public scale, Malaysia especially all over Southeast Asia, I think there’s a lot more public sentiment supporting the technology. And I think Malaysia has got a population that is more technology driven and technology adapt. Australia is a resources economy on agriculture and we are trending towards property and construction economy now as well.  And this is somewhat stifling our ability to accept new level technologies.”

 

During BLOCONOMIC 2018, Co-Founder of Dash Embassy DACH, Rafael Schultz participated the first ever Malaysia Blockchain Summit that was organised by Malaysia Blockchain Association and Alphacap Berhad. He was one of the speaker from the 2 days event. Therefore, He shares his journey from Dash to his new blockchain incubator called Blockchain Punk.

1. “Co-Founder of Dash shares his journey from Dash to Blockchain Punk”

Throughout Bloconomic 2018, Rafael Schultz, Co-Founder of Dash Embassy DACH met up with other great blockchain enthusiast and most importantly Dash successfully partnered with some Blockchain companies like Trivechain Technology, Malaysia Blockchain Association and many more.

From his explanation above, He explained about Blockchain Punk.

What is Blockchain Punk?

Blockchain Punk is an accelerator from Berlin and started beginning of 2018. Blockchain Punk’s goal is to help bring Blockchain startups into massive blockchain. Blockchain Punk works very closely towards valuable technology projects that would like to be boost higher. One of their greatest case would be Dash.

Not only that, Coins300 did an exclusive interview with Rafael, Co-Founder of Dash Embassy DACH and Founder of Blockchain Punk about his point of view on Malaysia Blockchain Economy.

Based on your Point of View, What’s your thought on the differentiation with the use of Blockchain in Malaysia and Europe?

Based on two different continent, Im coming from crypto town in Berlin where young people are coming up with great ideas and older generation peoples are the ones with great loads of wealth. And with these two important combination, Blockchain spaces will be efficiently grow faster. As for Malaysia, This is my first time coming in to Malaysia and it has a big infrastructure which is even bigger than Germany as i could say, Malaysia could be the top crypto townies leading Southeast Asia. Not only that, Malaysia has just started its beginning but it has already a complete setup like supportive innovation hub . One good advice i could give… is to take Europe as a learning experience and adapt to Southeast Asia and definitely make it better and richer in value.

“Never keep your eggs in one basket” might be the statement you hear time and time again from capital market traders, analysts, and advisors alike. While this investment thesis may be applicable in traditional markets, some believe that this diversification tactic is not applicable to crypto markets.

Don’t Put Your Crypto Eggs Into One Basket?

As reported by NewsBTC, Roger Ver recently made an appearance on CNBC’s ‘Fast Money’ segment to discuss his outlook on this market. While much of his time on-air was filled with Bitcoin Cash-related discussion, CNBC viewers likely focused on this comment regarding diversification, which is as follows:

“I hold more Bitcoin Cash then anything else, but I have some Ether, some ZCash, some ZCoin, Dash, Monero and I still hold BTC as well. So a little bit of everything is a good idea, including a bit of Ripple (XRP) and Stellar (XLM). Diversify, diversify, diversify is the name of the game.”

Although “diversify, diversify, diversify” may sound like a no-brainer for any seasoned investor, Samson Mow, the Chief Strategy Officer at Blockstream, begs to differ. Mow, who is often critical of Ver’s beliefs and statements, brought up his talk he made at South Korea’s Blockfesta conference to rebut the Bitcoin Cash proponent’s sentiment on diversification.

The Blockstream executive first noted that “diversify, diversify, diversify” is the “worst advice possible,” noting that the price action of a majority of cryptocurrencies is “highly correlated.” While not explicitly stated, Mow is essentially alluding to the fact that Bitcoin, which has historically been at the forefront of crypto, should be the sole focus of any portfolio. Backing this claim, the Bitcoin (BTC) proponent pointed out that if you bought only BTC one year ago, you would be up 54%, but if you diversified into the top 16 crypto assets, you would be down by 21%.

While his aforementioned criticism highlighted a short-term scenario (one year), he also added that a focus on Bitcoin may be beneficial in the long run as well. Mow noted that “if you bought anything other than BTC and LTC to hold back in 2013, you’d be thoroughly REKT.”

A majority of 2013’s top 20 crypto assets have all but faded out of existence, with newer projects like Ethereum, Monero, and EOS ousting Namecoin, Peercoin, and Feathercoin, which all used to be the crème de la crop back in their hay day. Not only have these little-known projects faded from public memory, but some have totally abandoned, with their token values dropping off the face of the Earth.

Mow seems to be convinced that this same occurrence will happen in today’s markets, speculating that a majority of altcoins are posed to see hefty losses over the long-term.

However, some were not convinced by Mow’s arguments, with skeptics pointing out his allegiance to Bitcoin maximalist thought process, which would have evidently skewed his opinion on the long-term prospects of altcoins. Others noted that his investment method may work in a bear market, but in a bull market, diversification may actually be key. As the market ran in 2017, Bitcoin dominance fell below 80% for the first time ever, leading ‘altcoin maximalists’ to believe that Bitcoin’s time as a crypto monarch had fully elapsed.

Regardless, there did seem to be a common thread of agreement between those on both sides, which was that taking CNBC Fast Money’s crypto advice to heart may be the “fastest way to lose money.”

The usual suspects seem to be back at the Bitcoin game once again, with CNBC Fast Money hosting yet another guest to speculate on the future price action of the ever so volatile crypto market.

“We Are More Likely To See 10k, Than 5k”

On Wednesday, CNBC Fast Money, which covers the crypto industry on a near-daily basis, took on Michael Moro, CEO of Genesis Trading and Genesis Capital, as the guest industry insider.

Over the past few days, Bitcoin surpassed the $7,000 price level for the first time in three weeks, with no clear catalyst to the surprise of many. Leading some, including CNBC host Mellisa Lee, to ask why has the crypto market seen a recovery. Responding to the query, Moro first drew attention to the SEC’s most recent crypto-backed ETF decision and the correlated increase in open Bitcoin short positions prior to the verdict. He elaborated, explaining:

“Once the news broke about the SEC rejection and the price actually held, we didn’t see the 5, 10, 15 percent sell-off that you’ve seen in previous (ETF) rejections and that the technicals right around the $5,800 to $5,900 level helped. So I think the bears have realized they’ve run out of steam.”

The Genesis Capital CEO brings up an interesting point about how the market did not react as many expected, leading a multitude of short sellers to cover their positions as Bitcoin found strength instead of falling through $6,000 and below. And the fact that Bitcoin has not only held $6,000 but seen a substantial recovery since the SEC’s denial of the ETFs clearly indicates that the bears are running out of crypto to sell.

Moro then went on to highlight his $10,000 prediction, doing his best to lay out his reasoning behind this bullish forecast, stating:

“I think that the number one that is going to have to happen is slow and steady growth. And as Bob Pisani mentioned before, volume. What you need to see is the less violent moves of 5 percent up or 10 percent up, and a slow and steady growth across the exchanges. What I also think is important is that I believe that the market now understands that the SEC’s ETF approval isn’t going to happen anytime soon. The market’s sentiment regarding the approval process is far more muted, which I think is a healthier outlook over the next 12 months.”

But it doesn’t seem to be all sunshine and rainbows, with Moro noting that the buy-side volume has not been seen as of yet, which indicates that bulls might not be ready to push this asset upwards.

Nonetheless, Genesis Capital executive revealed that $7,000, or $7,150 to be exact, will be the price to watch over the next week, as if Bitcoin holds above this level, $10,000 could be this asset’s next stop on the gravy train upwards. If the price of BTC somehow manages to break under $7,000, however, he added that the aforementioned $5,800-$6,000 line of support will continue to be a level of interest.

Swiss and US-based blockchain cloud computing startup DFINITY has closed a new funding round worth over $100 million from repeat backers including Andreessen Horowitz, it confirmed August 29.

DFINITY, which aims to build what it describes as an “Internet Computer,” raised a total of $102 million Swiss francs ($105 million) from partners that also featured blockchain-focused investment outfit Polychain Capital.

Both Polychain and Andreessen via its investment fund a16z had previously participated in the startup’s investment, contributing to a $61 million round in February.

Having raised a total of just under $200 million since its foundation in 2015, DFINITY ultimately wants to create a platform which will “host the world’s next generation of software and services on a public network,” TechCrunch quotes a16z partner Chris Dixon as saying.

“The Internet Computer is on track to become a critical piece of the future technology stack,” he added.

The move marks a further commitment from Andreessen to the cryptocurrency sphere, the company in April becoming part of a $133 million funding round in blockchain project Basis’ stablecoin.

More recently, in July, Andreesen participated in a $45 mln funding round for blockchain cloud computing platform Oasis Labs as part of its plan to help companies adopt blockchain.

Yahoo Finance has integrated trading with Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) on its platform.

BTC/USD

While statistics are available on the platform for other digital currencies like Bitcoin Cash (BCH), Ethereum Classic (ETC) or EOS, they currently do not have buy and sell options.

The development has led some in the crypto community to say that it is an important step forward for crypto adoption. Crypto enthusiast and founder of Morgan Creek Digital, Anthony Pompliano tweeted:

BTC continues to trade near the $7,000 price point, according to Cointelegraph’s Bitcoin price index, after it broke through the $7,000 threshold on August 28. At press time, the leading cryptocurrency is trading around $7,043.

ETH is trading around $290 at press time, down 1.36 percent over the last 24 hours, seeing negligible price change on the day. Yesterday, August 28, ETH saw the first major upswing in price performance after a faltering week range bound between $270-280.

LTC is currently trading around $62, down 1.74 percent on the day, according to CoinMarketCap. The total market capitalization of the altcoin is nearly $3.6 billion, while its trading volume over the past 24 hours totalled around $222 million.

In March, the Japanese arm of internet giant Yahoo said it will open a cryptocurrency exchange “in April 2019 or later.”  Yahoo Japan was going to buy 40 percent of BitARG Exchange Tokyo in April, and immediately dispatch executives to lay the foundations for the exchange to launch a year later.

Stockholm IT Ventures AB (SITV), a Swedish company specializing in cryptocurrency and blockchain technology, has announced its subsidiary has finalized a software license agreement with Valens Bank, according to the official August 22 press release.

The agreement between Blocktrade Technology Ltd. (BTT), a subsidiary of SITV, and the GermanValens Bank will allow the “multi-currency financial services startup” to “use the BTT Crypto Trading Toolbox exclusively for Crypto Fund Trading.” The press release notes that this is the second agreement between BTT and Valens Bank connection with digital financial services.

In exchange for a 1.5 percent yearly license fee for BTT on the “deployed capital into the trading program set forth by Valens Bank,” the two companies will collaborate in preparation for a September 2018 launch of the product for Valens Bank clients, according to Torben Pedersen, director at Valens Bank.

The Scandinavian region has recently contemplated embracing blockchain technology and cryptocurrencies. Back in May, Norway’s central bank had announced that it was considering developing its own digital currency with at least three possible applications: the introduction of a reliable alternative to deposits in private banks, as suitable legal tender as a supplement to cash, and an independent backup solution for electronic payment systems.

In Germany, the country’s second largest stock exchange announced its plans in early August for developing a new platform for Initial Coin Offerings (ICO) as well as a multilateral crypto trading venue.

Police in California have arrested an alleged hacker who stole Bitcoin (BTC) totalling more than $1 million by hijacking cellphones, investigative cybercrime blog Krebs on Security reported Wednesday, August 22.

Citing a police report, the publication reveals Xzavyer Narvaez, 19, used “SIM swapping,” a technique also known as a “port out scam,” to reportedly steal cryptocurrency from victims’ devices. Over a period of several years, Narvaez and another suspect already under arrest used the funds to buy items such as luxury sports cars.

From March to June 2018 alone, Narvaez’s account on cryptocurrency exchange Bittrex processed 157 BTC (around $1,009,000). The police report also confirms that crypto payment processor BitPay was used in Narvaez’s purchase of a 2018 McLaren from a car dealership in Southern California.

According to the report reproduced by Krebs On Security, Narvaez had used the same device to commit the crimes multiple times, which the publication summarizes “ultimately gave him away,” as “approximately 28 SIM swaps were conducted using the same employee ID number over an approximately two-week time period in November 2017.”

Further investigations by Vice revealed that the SIM swapping underworld regarded the 19-year-old as “one of the best SIM swappers out there.”

Nonetheless, Narvaez was unsubtle about his reportedly illegitimate cryptocurrency gains, posting photographs of cars he purchased on Instagram, Vice reports.

Earlier in August, a U.S. investor filed a $224 million lawsuit against telecoms giant AT&T over alleged negligence, claiming that $24 million in cryptocurrency was stolen via a “digital identity theft” of his cell phone account.

The episodes come as attitudes among U.S. law enforcement have become more nuanced regarding the use of cryptocurrency by malicious parties.

In an interview with Bloomberg earlier this month, Lilia Infante, an agent working on the Cyber Investigative Task Force at the U.S. Drug Enforcement Administration (DEA), said she hoped cryptocurrencies remained in favor in criminal circles, noting:

“The blockchain actually gives us a lot of tools to be able to identify people. I actually want them to keep using [cryptocurrencies].’’

The police report notes that the investigators had used the Bitcoin blockchain in order to “trace the flow of the bitcoins used to purchase the McLaren back to an address attributed to the cryptocurrency exchanger Bittrex,” also noting that “BitPay provided records that identified the Bitcoin transactions in which the vehicles were purchased.”

At the same time, the DEA reported the percentage of crimes involving Bitcoin had dropped dramatically since 2013.