IOTA Reveals Amazing Technology!!!
Here we will share with you five fresh news pieces. First up, IOTA reveals a new Industry Marketplace for machine transactions. Second up, after months of waiting, the Binance US is now open to account registration, with its native coin BNB on the list of available tokens. Next, In collaboration with ECPay, cryptocurrency investment app Abra is going to sell BTC for cash at all 7-Eleven stores in the Philippines. For the fourth piece of the day, the SEC Chairman Jay Clayton insisted that Bitcoin must comply with stricter regulations if it is to trade on major exchanges. And finally, the last news for this week, Binance reveals its plan to establish an OTC trading platform for Chinese yuan in October.
The Market Today
Today we have a mixture of greens and reds on the map. BTC is currently increasing by 1.06%, with no significant changes from yesterday. Ethereum is gaining 5.83%, while XRP is decreasing, losing 2.25% in the past 24 hours.
IOTA’s Industry 4.0 Marketplace is ready
In the first news segment, according to Cryptobriefing, IOTA’s Industry Marketplace for machine transactions is now available to users. Definitely big news for our IOTA fans. After partnering with a number of automotive companies and moving forward with the Coordicide, it’s great to see IOTA’s tangle make a move to industrial IoT. They are announcing the launch of an autonomous, decentralized marketplace where users will communicate to exchange goods and services between each other. The platform was built to facilitate industry 4.0, where humans may no longer be involved in the exchange of goods and services, and automation reigns king. In industry 4.0, devices will not only contain information or directives, but they will also become active decision-makers and optimizers – so here we’re shifting from a more procedure-oriented paradigm to a goal-oriented one. And that’s where the IOTA Industry Marketplace comes in. It will act as a vendor and industry-neutral platform that automates the trading of goods and services in the digital and physical world. The most important feature is probably its decentralized device identity system Jörg Nagel, Managing Director at Neoception, a young startup from Mannheim providing tailored Industrial IoT services, stated:
“The IOTA decentralized identity system is even capable of solving a current industrial need of identifying physical devices, which is a prerequisite to attach an Asset Administration Shell to the physical device.“
Now, for those who are interested, the Industry Marketplace is very open for newcomers to join their boards. Currently, they have six co-founders, including eCl@ss, Neoception, Otto von Guericke University Magdeburg, Helmut-Schmidt-University Hamburg, WeWash and the IOTA Foundation.
Binance.US started accepting account registrations
Binance has officially announced its release of Binance.US on Sept 18, stating that users can now register and deposit coins. According to U.Today, Binance was expected to begin opening its doors to 37 US States, excluding Washington and New York. Catherine Coley, however, claimed that Binance would be able to sort out the regulatory uncertainties in the future. It looks like Binance will support six cryptocurrencies. These include Bitcoin, Tether, and four top altcoins. BNB the exchanges, native token was on the list of potential assets to explore for future listings.
6,000 retail stores including 7-Eleven sell BTC in the Philippines
It’s great news to see all 7-Eleven stores across the Philippines will sell BTC to the public. Now, this is a partnership between Abra, a mobile Bitcoin wallet app, and ECPay, a payment processor. Now Abra announced on Sept 18 that more than 6,000 retail stores all over the Philippines, including all 7-Eleven stores, will offer BTC trading for cash. The representative from the company happily announced:
“Using new digital tools that open up financial access shouldn’t be hard. And they shouldn’t be complicated. Moving cash to crypto and other digital assets should be simple and fast. That’s why we are really excited to announce our new partnership.”
So, how can you buy BTC at a store? According to their instructions, you can find Abra listed under the “Bills Payment” option at all CLIQQ ECPay financial services kiosk or in your mobile app. Next, you need to make a deposit into the Abra wallet. The minimum amount is $9.59, and you can not deposit more than $1,917 into the wallet per day. Then, you simply fill in all the transactional information, print the receipt, and meet the cashier to proceed. If everything is correct, the funds should be accredited within 1-2 business days (except for weekends and holidays).
US SEC Chairman: BTC needs more regulation on major exchanges
Jay Clayton, the chairman of the United States Securities and Exchange Commission (SEC), demands that BTC must comply with stricter rules and regulations in order to trade on a major exchange. The chairman also added:
“If [investors] think there’s the same rigor around that price discovery as there is on the Nasdaq or New York Stock Exchange… They are sorely mistaken. […] We have to get to a place where we can be confident that trading is better regulated.”
For those that are not aware, while Chicago Mercantile Exchange’s Bitcoin futures contracts are bought and sold on a major exchange, Bitcoin itself hasn’t been traded on such a large platform yet. These have been many attempts to bring Bitcoin to the mainstream public like going for exchange-traded funds (ETFs) which have been rejected by regulators over volatility and fraud concerns.
RMB-to-BTC OTC will launch in China
Hong Kong’s crypto giant Binance is going to build an over-the-counter (OTC) trading platform for the Chinese currency – Renminbi or Chinese yuan. The project will launch in October this year, targeting the Chinese market, as the current plan envisions supporting the Chinese renminbi only. As you may know, Chinese watchdogs are very cautious with cryptocurrencies. They are well known for their crypto trading ban which went into action on Sept. 2017. Hence, the best way to buy digital coins is via OTC trades, in which local investors have to purchase stable coins such as Tether (USDT) and convert them to other cryptos.
What are your thoughts regarding these situations?
Will IOTA’s Industry Marketplace change the way we trade goods and services?
Are you to try the Binance US platform?
Do you think that boosting BTC exposure in the Philipines will increase in demand for crypto in the country?
Do you agree with the idea of the US SEC chairman?
Will the Binance OTC trading platform will work well in China?
Join us at our Telegram group and follow us on Youtube and Twitter.
Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.