Bitfinex Plans Launch of Decentralized Exchange Eosfinex

Bitfinex has announced that it will launch a decentralized cryptocurrency exchange built on the Eos.io platform. The new platform, Eosfinex, will be the first exchange to be hosted using Eos.io’s decentralized application infrastructure.

Also Read: EOS Raises $700M Despite Token Affording No “Rights, Uses, Purpose, or Features”

Bitfinex Partners With Eos to Develop Eosfinex

Bitfinex Plans Launch of Decentralized Exchange, EosfinexBitfinex claims that Eosfinex will offer a “fast, transparent and trustless platform for the trading of digital assets” through Eosfinex, which is to be the first decentralized exchange built using Eos.io’s protocol.

J.L.Van Der Velde, the chief executive officer of Bitfinex, stated: “We are excited to leverage EOS.io to further advance the field of high performance and trustless on-chain exchange. Block.one continues to display an unwavering dedication to improving blockchain scalability through the EOS.IO platform and it is our hope that this collaboration will allow significant advancement for all decentralized exchange.”

Mr. Van Der Velde also suggested that decentralized exchanges “represent fundamentally transformative capabilities for the blockchain industry.”

Bitfinex Banking Controversy Continues

Bitfinex Plans Launch of Decentralized Exchange, EosfinexSpeculation surrounding the opaque banking practices of Bitfinex have continued to grow in recent weeks.

According to a post on Reddit, Bitfinex has again directed customers seeking to deposit fiat currency with the exchange the account details banking institution previously not associated with Bitfinex. The Redditor claims that he was directed to deposit his funds with Portuguese state-owned banking corporation, Caixa Geral de Depositos.

Another Redditor responded to the post, stating that name of the account holder, Global Trade Solutions A.G. (GTS), “looks like a shell for CryptoCapital,” alleging that GTS is closely affiliated with Crypto.Zoo. The poster concluded that as such, Bitfinex is likely “rotating banks but [operating with] the same banking partner.”

Tether/Bitfinex to Purchase Puerto Rico Bank?

Bitfinex Plans Launch of Decentralized Exchange, EosfinexLocal media recently reported that Nicholas Prouty, the CEO of Puerto Rico-based hedge fund Putnam Bridge Funding, stated that Tether’s leading figures are seeking to purchase a bank on the Carribean Island.

According to a rough translation, Mr. Prouty said that “A group of ‘crypto guys’ are close to buying a bank in Puerto Rico. The reason they have bought a bank is that no bank in the United States is willing to accept crypto. Because Puerto Rico is a territory, there are some banking licenses that are possible here and that enable a very creative banking structure,” adding that “The bank they were working with did not want to continue working with them with that kind of responsibility. This has necessitated the purchase of a bank that requires an infusion of capital from a sovereign wealth fund to create an initial reserve. They will start banking with crypto soon.”

What is your opinion on decentralized exchanges? Share your thoughts in the comments section below!


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PR: How Viola.AI Uses Blockchain to Tackle the Billion Dollar Love Scams Industry

Viola.Ai - Love on the Blockchain

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Viola.AI leverages on blockchain technology to change the dating and relationships landscape in the world.

One of the questions the team at Viola.AI gets asked frequently  —  why does the dating and relationships industry need blockchain?

One of the key problems that blockchain help to solve is trust.

There’s a huge trust problem in the dating industry — online love scammers are making billions of dollars a year preying on unsuspecting singles. Their usual modus operandi — grab a photo of a random decent looking person online, masquerade as the person, use a fake name, and start chatting with singles who think that this persona actually exists. Once an emotional connection is created, they will start coming up with sad sob stories to ask for money transfers.

One of the dirty secrets of this industry is  —  many online sites and mobile apps actually use bots to lure their users into subscribing for their services. With the short customer lifetime value and quick churn rates, many industry players succumbed to such unethical practices, breaking the trust between service provider and user.

Firstly, with Viola.AI’s Real ID verification built on blockchain, singles’ identity is verified through visual recognition and singles now can be assured that they are really chatting with authentic and verified users. No more faceless characters, no more fake profiles containing pictures of models or actors/actresses. Also, by hashing the results of the REAL-ID onto the blockchain and by decentralizing the key personal information onto the mobile devices, this will ensure that even if there is a security breach, all the private data is still protected.

Use case: Elizabeth uploads a photo to create her profile on Viola.AI. Viola.AI verifies that Elizabeth is a real person by taking a real-time video scan of her face and checking against her social media accounts before approving her profile. The process is then decentralized and stored on the Blockchain.

Secondly, VIOLA tokens are both a community and utility token. How powerful an AI can be is based on how accurate and sufficient the data is. With Viola.AI, our tokens can be used as rewards to be given to users who contribute content, provide responses and generate data to increase Viola.AI’s accuracy. By having our own tokens rather than using other cryptocurrencies, the transaction is frictionless, as opposed to using gas.

Use case: Henry decides to propose to Elizabeth. He asks the community on Viola.AI for advice and ideas. Dozens of users reply with their proposal stories while merchants respond with offers for their services and venues. Henry picks the best suggestions and his proposal is a success!

Thirdly, the Ethereum Smart Contracts ensure that all rewards, revenues shares and referral commission to be paid out are fulfilled as promised, not just today, but also going forward. The process is trustless. This would attract and encourage more merchants and experts to come onto the marketplace and propel the growth of Viola.AI.

Use case: Henry and Elizabeth’s 1st wedding anniversary is coming. Viola.AI reminds Henry and asks if he wants to do something special. Flowers and a special date, Henry says. Viola.AI sends him 3 different suggestions for roses — Elizabeth’s favourite! After Henry decides on the flowers, Viola.AI arranges for their delivery, and books the restaurant. Henry surprises Elizabeth and their anniversary is a special one!

Viola.AI is no small project, however the team is confident as they have a strong foundation to start off with. The backing company, Lunch Actually Group is Asia’s Dating Giant with 13 years of proven success record and 1.4 million users with products comprising of 4 Dating Apps, 2 Online Sites and 3 Offline Services and regional presence in 6 big cities in Asia.

“Viola.AI is our most ambitious project to date, and I strongly believe that Viola.AI will transform the dating and relationships industry. We have already successfully helped thousands of singles in Asia find their lifelong happiness. By harnessing on blockchain and AI technology, our dream is to help millions if not billions worldwide to find love, nurture their relationships and be in happy and fulfilling marriages,” said CEO and Co-Founder, Violet Lim.

For co-founders, Violet Lim and Jamie Lee, understanding the pain points of one’s dating and relationship journey is key. After successfully matched hundreds of thousands of people in the past 13 years, they know what what singles need, and what the industry are currently lacking today — which became the inspiration for the conceptualization of Viola.AI.

Viola.AI is the world’s first A.I-driven Marketplace for dating and relationships. She will be the first dating and relationship A.I. that evolves with the users — creating a global and borderless full loop solution from dating, courtship, relationship to marriage. With the capability to perform deep learning about each user’s personality, background and behaviour, Viola.AI can give them the most relevant and valuable advice, as well as proactively prompt couples before any important relationship milestones and help them solve their challenges early.

Viola.AI will also incorporate community-based marketpace, where experts, merchants and partners can come in to provide relevant goods and services to the users at the right stage.

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Join the discussion on Viola.AI Telegram: https://t.me/ViolaAI

Contact Email Address
christina@viola.ai
Supporting Link
www.viola.ai

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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