The United States Securities and Exchange Commission has opposed Telegram’s request for clarity regarding the geographic scope of a court injunction barring the company from distributing its Gram (GRAM) tokens.

In a letter to Judge Castel dated March 30, the SEC asserts that the injunction “unambiguously, and properly, applies to Telegram’s delivery of Grams to ‘any person or entity’ [...] and requires no clarification.”

The Gram tokens correspond to the firm’s $1.7 billion initial coin offering that raised money to launch the Telegram Open Network — or TON — in 2018.

SEC claims injunction unambiguously applies to “any person or entity”
On March 27, Telegram’s lawyers filed a letter requesting that the court clarify whether the court’s March 24 injunction has jurisdiction outside of the United States.

The letter noted that while the Supreme Court has previously recognized “a ‘presumption against extraterritorial applications’ of the U.S. securities laws.’” As such, Telegram is seeking to distribute tokens to the investors that represent the $1.27 billion that the firm raised from outside of the United States.

The SEC describes Telegram’s letter as “procedurally barred and legally meritless” — citing its injunction request, which sought to prevent Telegram from “delivering Grams to any person or entity or taking any other steps to effect any unregistered offer or sale of Grams.”

Despite the firm’s letter being “styled as a request for ‘clarity,’” the SEC asserts that “Telegram’s request is really a motion for reconsideration in disguise.”

TON community may seek to launch network despite court ruling
On March 24, Judge Castel ruled that the SEC had “shown a substantial likelihood of success” in seeking to prove that Telegram’s token issuance would distribute unregistered securities — granting a preliminary injunction against the firm from delivering Gram tokens to investors. Telegram immediately appealed Judge Castel’s ruling.

Two days later, the founder of the TON Community Foundation revealed to Cointelegraph that the community was considering launching the network itself, as the code is open-source. Daniel Perez, the head of TON Spain, added:

“No one can prevent the launch of TON by any other entity, person or a community, [be]cause TON is a decentralized open-source solution. Already, there are two different test networks, and within the community, there is at least 1 group planning to launch the third.”

Source: https://cointelegraph.com/news/sec-claims-telegram-injunction-applies-to-any-person-or-entity

A company says its blockchain network offers the world’s largest block size of 5 gigabytes, having been certified by Palo Alto Networks Partner.

The verification of this block size followed successful testing on a live blockchain network. ILCoin notes this was made possible thanks to the routing in fat trees protocol, known as RIFT, which enabled the block size to increase without having a negative impact on transaction speeds.

Crypto enthusiasts are also being given the opportunity to verify the 5 GB block for themselves via the ILCoin Block Explorer, under number 310280.

At a time when major blockchains like Bitcoin have suffered substantial delays confirming transactions, with heightened demand affecting volatility, ILCoin notes its infrastructure is becoming increasingly vital. Many blockchain platforms have openly acknowledged that scalability is one of the biggest challenges they face, especially as cryptocurrencies gain greater awareness in the public sphere.

Discussing ILCoin’s achievement, its executive manager, Norbert Goffa, said: “RIFT protocol disrupts the very concept of blockchain, mainly with the idea that simultaneous asynchronization is, in fact, technically possible. With RIFT, we are able to solve both the FIFO and the bottleneck problems and manage large blocks at unprecedented speed.”

How the RIFT protocol works
According to ILCoin, the RIFT protocol has been specifically designed to tackle scalability problems that have hindered the industry’s progress for some years.

RIFT boasts a two-layer structure, and irrespective of their size and their order in the chain, blocks are synchronized simultaneously. The company says this prevents bottlenecks from forming in the system during peak periods and enhances overall transaction speeds. It claims 5 GB blocks can operate at speeds of hundreds of thousands of transactions per second, paving the way for “safe and efficient” on-chain storage.

MORE INSIGHTS FROM ILCOIN HERE
The benefits of this protocol also extend beyond time, since it could ultimately make transactions far less expensive for consumers in the long run.

Goffa has written extensively about the advantages of the RIFT protocol, describing it as “the beginning of an entirely new blockchain approach” that eliminates the limitations suffered by industry giants, including Ethereum.

The power of on-chain storage
ILCoin says that the modernization of data storage is badly needed, as current solutions often leave businesses underserved.

According to the company, its solution means large volumes of data can be stored securely and without the risk of critical information being manipulated or changed without the network owner’s consent. This is particularly beneficial for data of a sensitive nature, creating an environment that’s free of corruption, theft and other unlawful activities.

Explaining how ILCoin’s approach is different from the countless other enterprise solutions currently under development, Goffa wrote: “Today’s environment is quite interesting because, even though the whole world is talking about decentralization, large companies that focus on blockchain development are still building off-chain solutions that will continue to result in centralized data storage.”

Goffa believes that, thanks to the RIFT protocol, it will be possible to establish a digital financial network that offers “the lowest transaction fees currently available in the world on an on-chain basis.”

Main focus
The company’s main focus is the Decentralized Cloud Blockchain, otherwise known as DCB for short. This on-chain solution allows data storage and data exchange to be realized on a transparent basis, “forming a transparent unity of ownership and permanence.” ILCoin will serve as the “stable, safe and widely accepted payment method” that underpins this infrastructure.

Exciting milestones that stretch into other sectors are set to follow later this year. In June, ILCoin is hoping to launch the world’s first blockchain-based virtual reality game, and by December, following extensive testing, the company has the ambition of allowing users to build their very own smart contract systems.

Source: https://cointelegraph.com/news/blockchain-project-says-5-gb-block-size-will-eliminate-congestion-issue

The Berkeley Blockchain Xcelerator, an incubator program for distributed ledger technology, or DLT, startups run out of UC Berkeley, has welcomed Snark Health into its spring cohort.

Snark Health seeks to combat COVID-19 by “building a framework for data-driven discussions and shared learnings” to enable the “rapid dissemination of information to improve patient outcomes.”

Health startup fighting coronavirus joins UC Berkeley blockchain incubator
Snarks platform aims to facilitate the sharing of best practices and information regarding the coronavirus pandemic between individuals, non-governmental organizations, and government agencies at local, state, and national levels. Snark’s website states:

“There remain many unanswered questions in regards to the clinical, operational and financial aspects of the COVID-19 pandemic. Through the process of answering these critical questions, we are building a new framework while simultaneously laying the foundation for global triage support, improved access to health care services and clinical research.”

‘Hippocratic Coin’ monetizes medical data for patients and healthcare workers
Snark is currently in the process of rolling out an Unstructured Supplementary Service Data system for distribution information to communities that do not have access to a smartphone or the internet.

The startup plans to develop a “Virtual Health Community” and a distributed framework for clinical research.

Snark’s website also outlines plans for the development of a cryptocurrency that will allow doctors and patients to earn money through participating in Snark’s data monetization program, dubbed ‘Hippocratic Coin.’

Blockchain companies used to create open databases regarding COVID-19
The coronavirus pandemic has highlighted many applications for blockchain technology, including the benefits of transparent data repositories.

On March 27, the blockchain platform, Algorand, launched a global survey to inform an open database documenting the pandemic’s spread. Both sick and healthy individuals are encouraged to participate in the survey. Respondents are requested to update their responses over time and their condition or symptoms change. Each participant must respond from a single IP address.

In China, blockchain has been deployed to record medical records and medical supplies, and to create a transparent public database for tracking charitable donations.

Source: https://cointelegraph.com/news/berkeley-blockchain-incubator-welcomes-startup-fighting-covid-19

Students enrolled in the University of Malta’s Blockchain and Distributed Ledger Technologies masters program have built a decentralized application (Dapp) that has been used for voting in upcoming student representative elections, per a March 28 press release.

The Dapp is built on top of a decentralized digital identity platform that was provided to the students by Vodafone. The election was the first live project to be executed using Vodafone’s digital identity platform.

“We are pleased to have been the first use-case for the Vodafone [digital identity] platform, and as far as we can tell a world first to hold a student election on a blockchain, “ said Joshua Ellul, the director of the University of Malta’s Centre for Distributed Ledger Technologies.

Malta University students build decentralized voting application
While the application was built to allow voters autonomous control over their data rather than relinquishing personal data to a centralized entity, the COVID-19 pandemic has highlighted some of the advantages offered by remote voting platforms. Ellul stated:

“At this time especially, given the current situation, it was important to have a remote voting mechanism in place that enables trust and transparency thanks to the Blockchain-based solution.”

Ellul stated the biggest challenge to developing the platform was “onboarding users in a trusted manner,” adding that “digital identity platforms such as that provided by Vodafone provide a solution.”

Voting is private but transparent, meaning that the results of an election can be publicly verified.

The University of Malta introduced its blockchain masters course during October 2019.

New Malta government to continue fostering a ‘blockchain island’
Malta has long been a crypto-friendly jurisdiction. Whether that would remain the case appeared unclear when the now-former Prime Minister, Joseph Muscat, resigned after facing widespread allegations of corruption and ties to the political assassination of a journalist.

While the new government-issued statements indicating that leading crypto exchange, Binance, is licensed in the country shortly after taking office, the new government has expressed that its position regarding blockchain has not changed for the time being. They added that it will seek to consolidate blockchain with other emerging industries under the umbrella of “Digital, Financial and Innovative services.”

Source: https://cointelegraph.com/news/university-students-harness-blockchain-for-elections-amid-lockdown

The coronavirus pandemic is causing the worst global economic recession among all business sectors since 1929. Advertising and marketing budgets alone could see a $3 billion loss in 2020.

Both traditional brands and crypto companies are replacing their high profile ads with low budget posts in an effort to combat the rising pandemic.

Crypto industry is taking on the social responsibility
Triffic, a free augmented reality game which rewards players with cryptocurrency, is doing their part to promote social distancing among their user base. On March 26, the startup announced on twitter that beta users can now collect limited indoor special items, such as toilet rolls, hand sanitizers, and facemasks. By participating, users could help raise money to help fight COVID-19. The company explained that:

“Triffic is raising up to $10,000 for COVID-19 Response by donating GPSTokens every time a beta user collects an AugmentedReality, toilet roll, hand sanitizer or #facemask.”

Triffic told Cointelegraph that its business model is based on the ability of their users to move freely and collect beacons. With many people on lockdown, they decided to implement this idea as a way to help raise social awareness. The company’s goal is to donate to an important cause while promoting the beta test of their game at the same time. The team added that:

“Who wouldn’t want to collect virtual toilet papers instead of Pokemons, right?”

Public health officials have recommended social distancing as a way to slow the spread of the coronavirus. So far, these efforts have been successful in countries such as China and South Korea where the virus first occurred.

Other companies are doing their part as well. Rather than postpone the date of their conference, Crypto Asia Summit announced that they would be moving their event online. The summit invited 30 plus speakers to contribute to the gathering. Each speaker will have their own page for people to access online.

Bitcoin plays a major role in helping payment sectors
As Cointelegraph reported previously, crypto adoption in the payment sector is increasing due to the COVID-19 outbreak. Among other things, it has encouraged Italy’s Banco Sella to launch a Bitcoin trading service to help facilitate international money transferring.

Source: https://cointelegraph.com/news/ar-crypto-game-makes-an-impact-on-social-distancing

The World Health Organization (WHO) has partnered on March 28 with major blockchain and tech companies to launch a distributed ledger technology (DLT)-based platform for sharing data concerning the coronavirus pandemic.

The platform, MiPasa, is built on top of Hyperledger Fabric and seeks to enable “early detection of COVID-19 carriers and infection hotspots.

MiPasa has been launched in partnership with technology company IBM, computer firm Oracle, enterprise blockchain platform Hacera and IT corporation Microsoft.

WHO launches blockchain-based platform to fight COVID-19
The platform purports to facilitate “fully private information sharing between individuals, state authorities and health institutions.”

The project cross-references siloed location and health data is “siloed” on the platform to glean global insights while ensuring patient privacy, with MiPasa describing the platform as a “verifiable information highway.” MiPasa is slated to soon host an array of publicly accessible analytics tools too.

According to the project’s website:

“MiPasa can help monitor and foresee local and global epidemiological trends and detect likely asymptomatic carriers by feeding big data on infection routes and occurrences to powerful AI processors around the world.”

A number of national health institutions are also contributing to the project — including the U.S., European, and Chinese Centres for Disease Control and Prevention, the Hong Kong Department of Health, the Government of Canada and China’s National Health Commission.

The fight against coronavirus highlights applications for DLT
The coronavirus pandemic has highlighted many of the applications for blockchain technology.

On March 25, it was reported that the United Arab Emirates (UAE)’s Ministry of Community Development (MOCD) is adopting DLT-based solutions for identity verification and the distribution of official documents — allowing customers to securely engage with the MOCD from home.

Blockchain technology has also been suggested as the most efficient means through which the United States’ stimulus package could be distributed — with some proponents even proposing that the U.S. launch a DLT-based “digital dollar.”

China has deployed blockchain in numerous applications to assist its efforts to fight COVID-19, using DLT to track the virus’ spread, medical records, and the distribution of medical supplies and charity donations.

A Chinese journalist has also used Ethereum (ETH) to bypass censorship and publish an interview with a Wuhan-based doctor on the pandemic.

Source: https://cointelegraph.com/news/world-health-organization-launches-blockchain-platform-to-fight-covid-19

A user poll conducted by Kraken has revealed that most traders are expecting Bitcoin (BTC) to break into new all-time highs before 2021.

The poll analyzed the responses of 400 “VIP” crypto traders on Kraken: 41% of respondents described themselves as “investors”, 40% identified as “traders”, and 15% as “institutions” — with the remaining 4% comprising payment processors, crypto exchanges and miners.

84% of respondents manage less than $10 million in capital, while 11% manage between $10 million and $50 million. The remaining 6% is divided evenly between traders managing from $50 million to $100 million and traders mobilizing more than $100 million.

Traders expect BTC to set record highs this year, not ETH
The survey found that the average BTC price target for 2020 is $22,866. However, traders do not expect Ethereum (ETH) to also see new highs — with $810 comprising the average price target for ETH.

The overall market sentiment is slightly bullish, with 44% of participants stating that the cryptocurrency markets are in a bull market, while 22% believe we are in a bear trend and 34% stating they are unsure.

There was little consensus among traders as to what will accelerate crypto’s growth over the next 12 months, with the top answer comprising “adoption” with 19%. Bitcoin’s upcoming halving came second with 15%, followed by political “conflict” with 11%, “fear of missing out” with 11%, and economic “crisis” with 9%.

Respondents came to a greater agreement regarding the major threats to the industry — with 32% of participants agreeing that “regulation” comprises the biggest risk to crypto, followed by “fraud, hacks, scams” with 23%.

Fundamental versus technical analysis
Fundamental considerations, technical analysis (TA), and fundamental considerations appear to be evenly favored among traders — with 26% describing TA as the primary factor underpinning their trading decisions, 24% looking to the fundamentals, and 23% focusing on overall market sentiment.

The state of the global economy and traditional markets influenced the decisions of just under half of respondents, with 55% indicating that mainstream finance has not influenced their decisions regarding crypto in the last six months.

Half of the traders expect an altcoin season during 2020
Over half of participants predict an altcoin season for 2020 — with 54% answering in the affirmative.

The survey also asked respondents to list their five favorite altcoins, with ETH, Monero (XMR), Ripple (XRP), Litecoin (LTC) and Tezos (XTZ) topping the list.

Nearly half of the respondents indicated that they do not use stablecoins, with 44.4%. Tether (USDT) was by far the most popular stablecoin, with 33.6% of users adopting USDT, followed by USD Coin (USDC) with 8.7% and Dai (DAI) with 8.4%.

Source: https://cointelegraph.com/news/most-traders-expect-new-all-time-high-price-for-bitcoin-in-2020