BITPoint and IdentityMind partner for Latin America AML compliance

IdentityMind Global and BITPoint LATAM, a cryptocurrency exchange in Latin America, have announced a new partnership for KYC and AML compliance.

Currently, BITPoint is operational in Panama and Peru and plans to expand their territories into Latin America. The company already has a presence in five Asian countries, including Japan. BITPoint is among the few certified digital assets exchanges registered with the Japanese Financial Service Authority (JFSA).

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Rachel Roberson
Overstock Subsidiary to Help Liberia Digitize Services, Boost Economy with Blockchain

Overstock.com subsidiary Medici Land Governance has signed a memorandum of understanding with Liberia to help the African nation digitize government services, a news release announced on June 10.

The pro bono pilot project will explore how Liberia can strengthen its economy through blockchain and enhance interoperability between government departments. As well as strengthen the country’s capacity to generate revenues, the release notes that such infrastructure could reduce corruption.

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Rachel Roberson
Overstock’s Medici Ventures Leads $7 Million Round for Blockchain Voting Startup

Blockchain-based mobile voting platform Voatz has raised $7 million in a Series A round led by Overstock’s Medici Ventures and Techstars.

Urban Innovation Fund and Oakhouse Partners also participated in the funding, according to an announcement provided to CoinDesk Thursday.

Voatz said it will use the investment to develop the accessibility and usability of its platform, as well as to boost security as it launches new pilots in partnership with states, cities and “select international jurisdictions.”

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Rachel Roberson
Grainchain, a blockchain-based platform for commodity sales, launches in Mexico

In the two years since GrainChain launched its distributed ledger-based transaction platform for bulk dry goods, the company has brokered thousands of contracts on everything from corn, sorghum, wheat and soybeans to even sand from its headquarters in McAllen, Texas.

Now the company is expanding its services to Mexico, partnering with the government of Tamaulipas to help farmers and grain elevators with commodity management and settlement.

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Rachel Roberson
Crypto Exchange Binance Enhances Global KYC/AML Measures With Tools From IdentityMind

Binance, the world’s largest cryptocurrency exchange by adjusted trading volume, is implementing stronger know-your-customer (KYC) and anti-money laundering (AML) regulations to ensure data security and compliance across their global operations.

Following the launch of Bitcoin Lite in Australia, Binance announced today a new partnership with Medici Ventures portfolio firm, IdentityMind. This collaboration is part of a joint mission to help raise the blockchain industry’s standards by improving existing data protection and compliance measures.

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Rachel Roberson
Overstock’s Medici Acquires Stake in Blockchain Banking Startup

Medici Ventures, the blockchain investment arm of Overstock, has acquired a 5.1 percent equity stake in blockchain banking startup Bankorus.

Announcing the news on Monday, Overstock said Bankorus’ blockchain platform allows individuals and institutions to “securely” buy, sell, store and lend digital assets.

“The addition of Bankorus to Medici Ventures’ portfolio of companies will further our work in building the foundation of a blockchain-based technology stack for society,” said Jonathan Johnson, president of Medici Ventures.

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Rachel Roberson
Explore wine on the blockchain with your tipsy Valentine

A bottle of red, a bottle of white, remember that Merkle trees keep your chain size light. That’s right: wine is now on the blockchain.

Vinsent, a new app that allows purchasers to pick up a bottle of fancy (mostly Israeli) vino, is turning to the blockchain to register wine futures purchases while ensuring that the bottles are authentic.

Vinsent came from VinX, a Medici-funded company that sought out to create a digital wine futures platform similar to the Bordeaux model.


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Rachel Roberson
Overstock’s Medici Land Governance Inks Deal for Local Land Registry in Mexico

Medici Land Governance, a subsidiary of Overstock’s venture arm Medici Ventures, has signed a memorandum of understanding with a local government in Mexico to create a digital land records system.

According to Monday’s announcement, the memorandum of understanding was struck with the municipal government of Tulum, which is located in the state of Quintana Roo. If built, the deal will allow officials there to collect data about land ownership and issue certificates of title to land in an effort to record such transactions automatically.

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Rachel Roberson
Eastern Caribbean Central Bank to Test Blockchain Legal Tender

The Eastern Caribbean Central Bank (ECCB) is about to conduct a pilot for a blockchain-based central bank digital currency (CBDC) in preparation for its planned full rollout as a legal tender, possibly in 2020.

For the initiative, the ECCB late last month inked a deal with Barbados-based fintech firm Bitt to help conduct the pilot, with other technical support from Pinaka Consulting.

This CBDC pilot will involve a “securely minted and issued” digital version of the Eastern Caribbean dollar (XCD) and will be distributed for use by financial institutions across the Eastern Caribbean Currency Union (ECCU), according to an announcement from Bitt.

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Rachel Roberson
Ripio Is Launching a Crypto Exchange for 3 Latin American Nations

Ripio, a startup that’s been working to boost crypto adoption in Argentina, is opening a new exchange platform for three Latin American markets.

The exchange will operate in Argentina, Brazil and Mexico, though due to regulatory hurdles, only fixed-price purchases will be available for Mexican users, Ripio CEO Sebastian Serrano told CoinDesk at Consensus 2019. The company already offers a crypto wallet and peer-to-peer lending, and is launching over-the-counter (OTC) trading for institutional investors alongside the exchange.

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Rachel Roberson
Blockchain vs. a database: What's the difference?

Blockchain distributed ledger technology (DLT) has been touted as the answer for just about every transactional issue facing the world today – from payment processing and supply chain tracking to digital identities and copyright protection.

Databases, however, have been serving those same use cases for decades. They record how much money is in a bank account, when cargo reaches a destination and they store the identities of business users – enabling access to business applications and sensitive data.

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Rachel Roberson
Blockchain Beyond Crypto: A Conversation with tZERO’s CEO Saum Noursalehi

In 2018, we made a concerted effort to expand into cryptocurrencies. Among other initiatives, we launched new crypto trading tools, we added support for bitcoin futures on CME and CBOE, and we recently invested in the new CoinFLEX exchange. We recognize crypto’s potential, and we’re passionate about making sure our users have the best possible tools to trade in that space.

Even though cryptocurrencies aren’t new to us, we’re always looking to gain more insights into how blockchain technology is affecting both capital markets and other industries as well.

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Daben Steele
Overstock’s tZERO Wins Patent for Integrating Crypto With Legacy Trading Tech

Security token trading platform tZERO, a portfolio company of digital retail giant Overstock, has won a patent outlining how it may merge legacy trading systems with cryptocurrencies and digital asset tech.

Published Thursday by the U.S. Patent and Trademark Office, the patent describes a “Crypto Integration Platform” capable of combining market information from a variety of sources to determine best prices. The system would then “secure both the digital transactional items (i.e., the funds for a buy order and the digital assets or liabilities for a sell order)” before conducting the transaction.

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Daben Steele
Wyoming County Moves to Put Land Records on Blockchain

A county in the blockchain-friendly state of Wyoming is planning to put its land registry on a distributed ledger.

Teton County (pop. 23,265 ), which includes the town of Jackson and part of Yellowstone National Park, has signed a memorandum of understanding (MOU) with Medici Land Governance (MLG). The startup,  majority-owned by Overstock.com’s blockchain investment arm Medici Ventures, will build the new registry on the Open Index Protocol (OIP).

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Daben Steele
Medici Ventures Completes $3.6 Million Securities Token Transfer Using The Ravencoin Blockchain

While an abundance of hype surrounds the capabilities of blockchain technology, its ability to transfer equity using tokens as digital securities has been demonstrated.

Medici Ventures, the leading blockchain accelerator and subsidiary ofOverstock.com, Inc., has successfully conducted a digital securities token transfer representing its equity ownership in Chainstone Labs, a company focused on digital securities and decentralized asset management.

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Daben Steele
Medici Land Governance...Signs MOU With Government of Rwanda to Implement Paperless Blockchain Land Governance and Property Rights Management

Overstock.com, Inc. (NASDAQ:OSTK) has announced that its blockchain-meets-property rights subsidiary, Medici Land Governance, has signed its second Memorandum of Understanding (MOU) with an African nation to develop a blockchain-based platform to manage land governance and property rights.

This latest MOU has been signed with the Rwanda Land Management and Use Authority (RLMUA) and the Rwanda Information Society Authority (RISA) to implement Medici Land Governance’s technology to move Rwanda to a paperless, secure, corruption-proof, blockchain-based system of land governance.

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Daben Steele