Craig Wright’s nChain Is Hiring a Lawyer to ‘Prosecute’ Its Crypto Patents

nChain, the company founded by self-proclaimed bitcoin inventor Craig S. Wright, is looking to hire a patent counsel in London to manage and grow the firm’s portfolio of blockchain-related IP.

The applicant must be a qualified European Patent Attorney, have a keen interest in bitcoin and blockchain and also possess a first degree in computer science, electronics, physics, or mathematics, the job advertisement states.

It goes on to say that the London-based position would conduct “patent drafting” and “global prosecution” for its patents and that the individual would have and “significant responsibility for creating and exploiting commercially valuable IP assets.”

Wright, who is best known for declaring himself (without evidence) to be bitcoin’s pseudonymous creator Satoshi Nakamoto, is also a strenuous collector of patents related to the technology.

A Reuters report two years ago first connected Wright with a company called EITC Holdings Ltd (which later became nChain), and through which he had filed over 50 patent applications in the U.K. related to blockchain technology. Earlier this month Jimmy Nguyen, chairman of nChain’s strategic advisory board, announced that the firm had filed 666 patent applications.

Data provided by the UK Intellectual Property Office shows that EITC has submitted a range of patent applications focused on the technology in recent years, including ones for “implementing logic gate functionality using a blockchain,” an “operating system for blockchain IOT devices” and “methods and systems for the efficient transfer of entities on a peer-to-peer distributed ledger.”

The explosion of R&D related to blockchain potentially creates an environment where “Non-Practising Entities (NPEs),” sometimes referred to as “patent trolls,” can thrive simply by seeking and enforcing patent rights.

Patent disputes have been described as the sport of kings: expensive and to be avoided. A good example of this was last decade’s smartphone patent wars.

There have been no reports of nChain or Craig Wright becoming involved in patent disputes, but it’s clearly part of the job description, which asks for:

“The ability to undertake patent drafting, global prosecution, and European opposition matters.”

nChain did not respond to requests for comment by press time.

Craig Wright image: BBC

NEXT BLOCK SOFIA 2.0 and Fabulous Blockchain After-Party

NEXT BLOCK SOFIA 2.0 and Fabulous Blockchain After-Party

As a strong crypto-believer, Sofia, Bulgaria will host another NEXT BLOCK SOFIA 2.0. That will concentrate on “The Future of Securities and Blockchain Technology” on April 12, 2019.

Bringing together over 350 participants and 20+ distinguished speakers, investors & startups, the Conference will hear from top blockchain experts looking into the future of revolutionary technology. As a good tradition, the event will be celebrated by a yet another luxurious Blockchain Party by NEXT BLOCK which adds to the chain of the most fabulous crypto-parties by NEXT BLOCK.

On top, NEXT BLOCK will host a private investors pre-party a day before the event, where investors will be able to network, discuss, find co-investors, meet best startups – all while enjoying refined drinks and buffet.

Meet NEXT BLOCK Keynote Speakers

Giacomo Arcaro, is one of the most important European Growth Hackers featured on the Financial Times, Forbes, Wired and Los Angeles Times. Two Million € exits with the startup CercaClienti.it and SocialAutomation.online. +2,000 satisfied customers, founder of Black Marketing Guru.

Herbert R. Sim, is the Head of Business Development at Broctagon FinTech Group. Herbert is the founder of TheBitcoinMan.com and Crypto Chain University.

Among our confirmed speakers are:

  • Eran Tirer, Founder & CEO, Ledgertech AG,
  • Hartej Sawhney, Advisor to Hip.Property, Advisor to Fort Network, Senior Advisor at Pink Sky Capital,
  • Yasen Yankov, Engineering Manager at Paysafe Group
  • Silvan Jongerius, Managing Partner & DPO at TechGDPR, Founder at Berchain.com,
  • Marco Calicchia, Founder and CEO of Mazee,
  • Mitchell Eaglstein, Co-Founder & CEO of FDCTech, Inc.,
  • Pavlo Tanasyuk, Founder of Spacebit and CEO of BlockVerify,
  • Ralph Liu, Founder and CEO, MuleChain, Inc.,
  • Dimitar Dzhurenov, CEO & Founder at Infinite X Labs
  • Motti Peer, Co-CEO of Blonde 2.0
  • Jan Sammut, Founder and CEO at RefToken.

Check next-block.org for more experts and the agenda of the event! Also CHECK how it was last year to know you have to be with Next Block in 2019!

Present your company in the EXPO ZONE and/or from the big Conference’s stage – we provide all ways for you to best earn the audience’s attention and trust!

To get a ticket, present your project, become a sponsor or media partner go to next-block.org.

Follow the conversation on Facebook, LinkedIn, Telegram, Instagram, and Twitter.

Media contact: Svitlana Kokarieva [email protected], +38 063 213 12 12

 

 

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Report: Prosecutors Drop Appeal Against Mt. Gox CEO’s Embezzlement Acquittal

Japanese prosecutors have reportedly dropped their appeal to the acquittal of former Mt. Gox CEO Mark Karpeles, The Mainichi reports on March 29.

On March 15, the CEO of the now defunct Mt. Gox cryptocurrency exchange was acquitted of charges of embezzlement, but was found guilty of tampering with financial records.

According to The Mainichi, prosecutors had initially sought to appeal the acquittal on embezzlement charges, but subsequently decided to let the decision stand.

Karpeles was reportedly accused of taking 341 million yen ($3 million) of customers’ money in Mt. Gox accounts and spending it on a software developer and personal extravagances such as a canopy bed.

While being acquitted of the aforementioned alleged embezzlement, the Tokyo District Court found Karpeles guilty of mixing his personal finances with those of the exchange in order to conceal the platform’s losses to hackers. He received a two and a half years jail sentence, which he will not have to serve unless he commits another offence within four years.

Citing sources familiar with the matter, The Mainichi reports that Karpeles’ lawyers, in their turn, are contemplating whether to appeal the charges of tampering with financial records.

Mt. Gox was based in Tokyo and had been providing about 70 percent of Bitcoin (BTC) transactions worldwide before suffering a major cyber attack, which led to its bankruptcy. In 2011, the price of Bitcoin on the Mt. Gox exchange dropped to a record low of one cent due to a security breach.

The subsequent collapse of the exchange in early 2014 reportedly led to the loss of 850,000 BTC, valued at roughly $460 million at the time ($3.43 billion at press time).

Last week, Nobuaki Kobayashi, Mt. Gox’s trustee, announced that he has finished processing creditors rehabilitation claims and that they will be notified of the results within a few days. Over 24,000 creditors are thought to have been affected by the collapse of the exchange.

Crypto Bear Market Layoffs: A Healthy Correction?

It has been sixteen months since the cryptocurrency markets hit historic highs before losing  around 80% of those gains. The rapid shift in value has prompted necessary changes in behavior for many of the businesses that blossomed in the wake of the crypto boom.

The crypto space is currently “streamlining”, cutting back, trimming the fat, laying off staff – call it what you want. The point is the once booming industry is now consolidating staff and resources as businesses either fold or find a new path forward in the ever-changing landscape that is cryptocurrency. The bear market has affected hundreds of blockchain and cryptocurrency-based projects.

The streamlining process started to make headlines in October 2018 when it was reported that Coinbase, the largest crypto exchange, was firing more than 15 employees. This raised eyebrows as Coinbase has been pushing towards becoming a publicly traded company. Meanwhile, Brazil’s largest exchange, Huobi, fired 60% of its team. Bithumb, the largest exchange in South Korea, recently announced plans to fire 50 percent of its staff.

Ethereum-focused startup ConsenSys recently announced they will let go of 13% of their staff. Joseph Lubin, ConsenSys CEO and co-founder of Ethereum, said the company would be moving into phase 2.0.  “We’re going to get a lot more rigorous in terms of milestones and timetables,” Lubin stated in an interview after the announcement. This newfound rigor would involve “dissolving projects if we’ve come to the conclusion that our earlier assumptions were incorrect.”

The massive Chinese mining firm Bitmain also announced layoffs, as did crypto exchange Shapeshift, with CEO Erik Vorhees writing the cutbacks were “a deep and painful reduction, mirrored across many crypto companies in this latest bear market cycle.” Steemit, the once popular decentralized social network that runs on the Steem blockchain, also announced a layoff of more than 70 percent of its staff in direct response to the market conditions.

Earlier this month the cryptocurrency project Dash announced plans to reduce staff as part of their own budget-tightening. Dash Core Group (DCG) CEO Ryan Taylor said the decision was not taken lightly and came as the result of months of “actively finding ways to reduce the budget”.

Layoffs: The Latest Thing in Crypto

Each of these projects represent different sectors of the cryptocurrency industry. Despite their differences each has had to face the reality of the current bear market. The layoffs seem to be inevitable at this point.

Only three months ago The Wall Street Journal declared layoffs “the Latest Thing in Cryptocurrency”. “A number of smaller firms that raised money during the manic 2017 cryptocurrency rally have retrenched sharply or quietly closed,” the Journal reported.

What does the current shuffling of employees mean for the crypto space in the long term?

The Serious Will Remain

“The crypto space is in a consolidation phase. I think many bad actors will be removed, and the serious players will remain,” says Sterlin Lujan, a crypto consultant, author, and former Communications Ambassador for Bitcoin.com.

Lujan’s position at Bitcoin.com involved traveling to exotic locations and speaking at conferences to help further the brand, as well as promote his philosophy of relational-anarchism.

Lujan is an eloquent speaker and a convincing salesman, but when it’s time to watch the budget, positions like his are the first to be let go. Lujan remembers:

They started happening all across the industry, so I was not really surprised when Bitcoin.com started letting people go.

Despite losing his position in the company, Lujan does believe this consolidation phase will be a boon for the cryptocurrency and blockchain industry. “In this sense, the market will eventually recover and company’s will begin to grow again,” he says. “I am uncertain if we will see a bull market like the one of December 2017, but you never know.”

Whether a bull market similar to December 2017 will take place remains to be seen. However, the future of blockchain based businesses might be bright – even with the layoffs. According to a LinkedIn study, blockchain developers are one of the fastest-growing emerging jobs in the United States. “Only time will tell if blockchain will be a long-standing trend in the job market,” the report states.

Jobs Still Out There

Cryptoglobe recently reported on a new study from The Next Web which revealed that US-based companies posted 2,616 blockchain-related jobs on Glassdoor, a leading online recruitment site. Out of a total 5,711 crypto and blockchain jobs listed on the platform, there were reportedly 1,015 that were posted by employers from the UK.

According to the report, there are currently thousands of job listings on Glassdoor for blockchain professionals who may be skilled at marketing, sales, and software development.

Even with the layoffs, Joseph Lubin of ConsenSys is expecting growth in his region of the crypto space. At SXSW 2019 in Austin, Texas, Lubin said he believes “there’s way more activity in our ecosystem right now than there was a year ago or 18 months ago.” Lubin also stated that ConsenSys is planning to do around four or five utility token launches this year.

The ups and downs of the crypto and blockchain industry have real world effects on the individuals who have become accustomed to earning their livelihood in this still emerging ecosystem. For people like Sterlin Lujan, the consequences of the layoffs are hitting closer to home. Still, despite the turbulence, Lujan remains confident in the technology and markets.

“This is a wild space, and people still like to speculate on the future value of cryptocurrency. I just think what happened taught everyone a valuable lesson,” he says. “The crypto markets are just as susceptible to hype and getting heated up as any other market.”

Canada: Ontario Town Approves Pilot Program for Paying Property Taxes With Bitcoin

The Ontario town of Innisfil, Canada, is now running a pilot program which will enable residents to pay property taxes with cryptocurrencies. The Innisfil Council voted to approve the program on March 27.

Per the CBC, Innisfil, in partnership with cryptocurrency payment processing project Coinberry Pay, will allow its residents to pay property taxes in Bitcoin (BTC), wherein the latter will convert cryptocurrency to Canadian dollars and transfer payments to the town.

The initiative may reportedly extend support to other cryptocurrencies including Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and Ripple (XRP) at a later date.

Innisfil Mayor Lynn Dollin told the CBC that the new payment pilot showed that the community prioritizes innovation. In 2017, the town of 36,000 launched a tax-subsidized ride sharing program in a partnership with Uber called Innisfil Transit.

In the United States, the state of Ohio became the first to allow businesses to pay taxes using Bitcoin. Businesses are allowed to pay 23 different taxes using the crypto through an online portal that was set up by the state treasury office. While the new initiative aims to make it easier for firms to pay their taxes, only two companies reportedly took advantage of the new service last year.

In February, lawmakers in the state of California introduced a bill to allow cannabis-related businesses to pay fees and taxes in stablecoins. Assembly Bill 953 would allow the state, city and county tax offices to accept cryptocurrency pegged to a physical asset or a fiat currency from cannabis-related companies seeking to pay their excise or cultivation taxes. The bill has currently been referred to committee.

Earlier in March, Cointelegraph reported that the Canada Revenue Agency (CRA), the government’s tax collection service, was reportedly auditing investors in cryptocurrencies like Bitcoin. The CRA was asking investors to clarify multiple points regarding their crypto investments, such how and through whom they purchased the assets and whether they use cryptocurrency mixing services or tumblers.

IOHK Founder Charles Hoskinson Says Crypto Industry Needs More Interoperability

Charles Hoskinson, a founder of IOHK, the firm that developed cryptocurrency Cardano (ADA), said that the cryptocurrency industry needs a “WiFi or Bluetooth moment” in an interview with media outlet Cheddar on March 28.

Speaking about the status of the cryptocurrency industry, Hoskinson said that it needs specific standards that will facilitate the development of more interoperability. Per Hoskinson, it will allow communication and information to be traded in an easier way among both digital currency and traditional financial institutions. Hoskinson argued:

“What we are seeing is a collection of standards being created [that] will inevitably converge over the next three to five years to create a situation where you can move information and value between all these different systems ー not just Bitcoin to Litecoin to Ethereum to Cardano ー but also your regular bank account.”

Hoskinson said that “what we are looking for is the WiFi or Bluetooth moment of our industry. We haven’t quite gotten there yet.”

Standard-setting organizations have been expanding and gaining traction recently. Last month, The Enterprise Ethereum Alliance (EEA) — an Ethereum blockchain standards-setting organization with over 500 members — confirmed it will launch a “token task force” in 2019. The group will reportedly focus on the issue of interoperability between different blockchains, as well as contribute to entreprise tokenization and build public confidence in crypto.

That same month, the EEA opened a regional office in China, wherein Weijia Zhang, vice president of engineering at blockchain interoperability startup Wanchain, was appointed as the head for the new regional office. Zhang will reportedly be responsible “for supporting the advancement and adoption of EEA’s standards by taking part in local hackathons, workshops, training sessions, and conferences.”

Bitcoin (BTC) Nearing Key Battle Zone as Upwards Momentum Continues

Bitcoin has been able to maintain the upwards momentum that was sparked earlier this week when the cryptocurrency surged back above the important psychological price level of $4,000. Although BTC has continued to climb, it has still failed to decisively break above $4,100, which has proven to be a strong level of resistance so far.

Now, one analyst believes that Bitcoin is nearing a battle zone that will likely lead to some major volatility in the near-future.

Bitcoin (BTC) Continues Climbing, but is Nearing Key Resistance Level

At the time of writing, Bitcoin is trading up 0.5% at its current price of just under $4,090. This past Monday, Bitcoin faced a large amount of selling pressure that sent its price spiraling downwards to lows of $3,900, where it found support that propelled it back above $4,000 and towards its current price levels.

Charles Hayter, the co-founder of CryptoCompare, spoke to MarketWatch about BTC’s recent price action, noting that large investors are likely accumulating the cryptocurrency at these current price levels.

“We are still in this channel we’ve been in the past couple of months and those who were getting out have and now some long-term investors are probably looking to accumulate… Furthermore, we are still seeing a lot of solid infrastructure being built and people are realizing more and more people are adopting the technology,” Hayter explained.

Bitcoin’s ability to hold well above its 2018 lows of $3,200 over the past several months has been an overwhelmingly positive revelation for the cryptocurrency, as it signals that this price level is likely to be a long-term support level, and possibly a bottom.

Analyst: Bitcoin Nearing a Battle Zone

Because Bitcoin is nearing an established level of resistance around $4,100, and an even stronger level of resistance around $4,200 to $4,300 that was formed in late-February, it is likely that BTC’s current levels of relative stability will be fleeting.

David Puell, a popular cryptocurrency analyst on Twitter, spoke about this upcoming volatility, noting in a chart that Bitcoin is currently caught in an ascending channel that is pointing it towards the aforementioned resistance levels and towards its 200-day moving average (MA), which will likely result in large volatility.

“$BTC: This battle is going to be a fun one to watch,” he concisely noted while referencing a chart with his notes on it.

As the crypto markets begin to enter the end of the week, it is likely that analysts will gain a better understanding of whether or not BTC is ready to break above the strong resistance levels that lay ahead of it, or if it needs to dip lower before incurring more buying pressure.

Featured image from Shutterstock.

Bitcoin Merchant Adoption Stagnates, But Switzerland is Reviving Payment Narrative

In 2017, the store of value narrative surrounding Bitcoin and its astronomical rise to $20,000 solidified the “hodl” meme in retail investors, causing them to spend their crypto less often in fear of missing out on incredible gains.

With less people spending their Bitcoin, merchant adoption came to a screeching halt. Since then, a number of merchants have pulled their support of accepting cryptocurrencies such as Bitcoin or Ethereum as a method of payment. But as merchant adoption stagnates in most of the world, Switzerland is leading the way back into regular growth of Bitcoin usage for paying for good and services.

Switzerland Leads the Way for Retail Merchant Adoption of Crypto Payments

When Bitcoin was initially developed by the mysterious Satoshi Nakamoto in the wake of the last financial crisis, it was designed to be a peer-to-peer system for electronic cash, or essentially a digital currency designed to be a medium of exchange.

However, Bitcoin’s highly-publicized meteoric rise and the switch to a store of value narrative caused more and more Bitcoin enthusiasts to simply “hodl” onto the leading crypto asset by market cap, rather than spending it on goods and services.

Related Reading | Economist: Bitcoin Is The Fastest And Highest Rising Value Asset Ever

The lack of Bitcoin usage for transacting with merchants has slowed merchant adoption significantly, and in some ways it has sent it on a reverse path. The most recent example of this, was with Amazon-owned Twitch dropping cryptocurrency payments from its platform. With the support of a major retail parent company being pulled, merchant adoption for Bitcoin and crypto isn’t on the best footing.

But in Switzerland, the country’s biggest online retailer, Digitec Galaxus AG, which generates just under a billion dollars in revenue each year, has opted this month to begin accepting cryptocurrencies as a means of payment, including Bitcoin.

Retail Ripple-Effect Causes More To Merchants To Accept Crypto in Switzerland

Since Digitec Galaxus AG added support for accepting crypto payments, even more retailers have begun to accept the emerging asset class as a payment solution.

Not even two weeks later, historic five-star Swiss luxury hotel Dolder, Zug-based House of Wines, and Kessel Auto dealers have begun accepting cryptocurrencies as payments, reviving the “means of exchange” narrative that’s been recently lost on Bitcoin.

The three retailers will accept crypto via a smartphone-based payments app called inapay. The app is developed by Swiss-based Inacta.

Related Reading | Precious Metals Firm Drops Crypto: Is the Bitcoin Digital Gold Narrative In Trouble? 

Roger Darin, head of blockchain advisory at Inacta says the inapay app “allows vendors, who may be cautious about handling cryptocurrencies directly, to accept payments from these clients.” He hopes one day “an array of small businesses, such as hairdressers, will use inapay to accept cryptocurrency payments from their customers.”

With inapay already garnering such support, and Switzerland being a supportive financial hub that’s welcoming to crypto assets, merchant adoption should only increase further in the country from here on out, hopefully reviving crypto use as a payment technology throughout the rest of the world.

Featured image from Shutterstock

BitMEX: Lightning Network ‘Scalable to Many Multiples’ of Current BTC Onchain Volume

/latest/2019/03/bitmex-lightning-network-can-scale-to-many-multiples-of-current-btc-onchain-voume/

BitMEX: Lightning Network ‘Scalable to Many Multiples’ of Current BTC Onchain Volume

bitmex-lightning-network-can-scale-to-many-multiples-of-current-btc-onchain-voume

The research arm of Bitcoin Mercantile Exchange (BitMEX), a Seychelles-registered and Hong Kong-operated crypto derivatives exchange, has published a report in which it reviewed the “market dynamics” of Lightning Network (LN) “routing fees.”

Researchers at BitMEX also looked into the “financial incentives” for LN full-node operators to “provide liquidity.” According to the report’s abstract, the research team at BitMEX managed to Identify a “major challenge” for the second-layer crypto payment protocol.

Currently, the “interrelationship and balance” between LN routing fees and investment returns for node operators may pose certain challenges which are not related to the “computer science aspects of the routing problem,” BitMEX’s report concluded.

Long-Term: “Competition Will Be Key Driver” Of Market Prices

“Investor sentiment” and “changes in interest rates” in financial markets could potentially affect LN fees charged by node operators – as the layer-two protocol for expediting crypto payments continues to scale, the report stated. In the long-term, BitMEX’s research team believes that “competition will be the key driver” of market prices and fees charged for processing LN-based transactions.

According to BitMEX’s market analysis, “low barriers to entry” could lead to lower fees for LN users – “rather than investment returns for liquidity providers.” Commenting on statements made by technical analysts, who claim that LN’s routing issues are “an unsolved problem in computer science,” BitMEX’s researchers state that they “do not really agree with this.”

BitMEX’s research team also argued that the solution to LN’s current routing problem would simply be finding the optimal paths between channels. This, BitMEX claims is “relatively straightforward” as it involves a basic implementation of peer-to-peer (P2P) networks such as that specified by the Bitcoin protocol.

Balancing “Liquidity Provision” And “Payment Routing” Processes

Going on to clarify that its recent report will not focus on technical, but rather economic aspects of the LN, BitMEX’s team wrote that they believe a major obstacle for the layer-two network will be balancing the process related to the provision of liquidity and payment routing.

The BitMEX research team has also argued that LN node operators must be properly “incentivized by routing fees” so that they “provide sufficient liquidity.” Should there be an imbalance in this process, it could prevent the network from functioning in an optimal manner, the report implied.

“Allocating Liquidity Specifically Where There’s Demand”

Suggesting how to approach this problem, BitMEX’s team wrote: “Liquidity needs to be allocated specifically to the channels where there is demand and identifying these channels may be challenging.” According to BitMEX, a persistent and significant issue the LN will face is “ensuring fees are high enough” to keep liquidity providers onboard – while also ensuring fees are affordable, or reasonable, for those looking to use the second-layer crypto payment gateway.

Based on what appears to be an exhaustive analysis, BitMEX’s researchers have estimated that LN liquidity providers can expect to earn an average “1% investment yield.” However, this is relatively low as crypto investors are generally looking for much higher returns, BitMEX claims. This, as the blockchain ecosystem is still considered a high-risk investment sector.

“LN Can Scale To Many Multiples Of Bitcoin’s Current Onchain TX Volume”

In summary, the report states:

While the investment returns for Lightning network liquidity providers do not yet look compelling, with the network in its formative stages, we do see potential merit in this business model.

It adds:

In our view, the Lightning network can easily scale to many multiples of Bitcoin’s current onchain transaction volume without encountering any economic fee market cycles or issues, all based purely on hobbyist liquidity providers … if we are forced to guess, based on the architecture and design of the Lightning network, we would say the system is somewhat rigged towards users and low fees, rather than liquidity providers.

Russian Mining Giant to Tokenize Palladium

Russian billionaire Vladimir Potanin is planning to create cryptocurrency tokens backed by palladium, Bloomberg reported on March 27.

Potanin — who is CEO of the Russian nickel and palladium mining and smelting company MMC Norilsk Nickel PJSC (Nornickel) — plans to deploy cryptocurrency tokens for trading palladium through a Switzerland-based palladium fund, and wants to launch several digital platforms.

According to Bloomberg, the platform will enable more fluid transactions. Currently, should a buyer discover that they do not need all the contracted volume in a purchase, they must either renegotiate with the supplier or sit on the excess supply until they find a buyer. However, with a tokenized asset, they could ostensibly sell the excess volume to a third party more easily.

Nornickel is also developing a digital platform for internal transactions, that will purportedly enable Russia’s central bank to test regulating blockchain-type systems in one company, without affecting the broader economy. However, the launch of the aforementioned digital platform has to pass approval on the legislative level, and if Russia fails to adopt an appropriate law Potanin will purportedly proceed in other jurisdictions.

Palladium has a variety of uses in various industries including dentistry, electronics, jewelry, catalytics and photography. The June palladium futures price decreased nearly $112 dollars (7.9 percent) per ounce today after hitting a record high one week ago.

Last October, another Russian mining giant, Alrosa joined the pilot of “Tracr” — a diamond supply chain blockchain platform created by industry giant De Beers. Tracr aims to improve transparency and consumer trust across the diamond value chain from mine to retail. The solution works by creating a digital certificate for each diamond that records key attributes and transactions.

Earlier in March, blockchain trust company Paxos announced that it is going to issue its digital token backed by gold “definitely this year.” Paxos CEO, Chad Cascarilla then said that the company was “excited about the concept of being able to take a commodity, and I think precious metals are really obvious ones, and gold is probably the most obvious and being able to tokenize it.”