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Can Bitcoin’s Lightning Network Power Payments in a Japanese Bar?

A bar in Japan is teaming up with a locally-based lightning startup to let customers pay for sparkling wine and soft drinks using the experimental payments network.

For the month of June, the Japan-based lightning startup Nayuta will be partnering with Awabar Fukouka to trial the payment system in what they’re calling a “field test.”

The Lightning Network is seen by its supporters as the best way to scale bitcoin so that more people can use the payment system at once, but the technology is still rather experimental and even risky to use. To that end, Nayuta sees this project as an way to further analyze how the technology works in the real world and to find out what still needs to be done to make it easier to use.

Though Awabar said their role is “small,” as the bar did not design the technology (Nayuta did), they’re “delighted” to participate, offering a place for the experimental technology to be tested in a brick-and-mortar context.

The company said in a statement:

“We hope it helps familiarize the community with the lightning network payment system.”

The following video shows how the point of sale app (created by Nayuta and run on the open source payment processor BTCPay) will look for customers purchasing their drinks:

Nayuta is known for helping to draw up specifications for the lightning network and recently launched its own implementation of the budding payment layer geared specifically for connected devices or the Internet of Things (IoT).

The idea is that as the tech components grow less expensive, more devices such as refrigerators and TVs will connect to the internet for data collection.

Source: Pivot – Blockchain Community

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Overstock to Retain Retail Arm, Support Blockchain and Crypto Ventures

The CEO of retail giant Overstock.com, Patrick Byrne, noted the potential profitability of the firm’s retail arm in its Q4 2018 earnings conference call on March 18. Byrne’s statements indicate that Overstock may not be divesting from its retail wing as soon as was previously indicated. Last year, Byrne reportedly told The Wall Street Journal that Overstock would sell off its retail wing sometime in early 2019. During the section of the conference call devoted to retail, Byrne said that “this is going to be a year of explosive growth,” and that the retail wing would “spit out cash…..

Source: Overstock to Retain Retail Arm, Support Blockchain and Crypto Ventures

Japan Introduces New Regulations for Cryptocurrency Margin Trading

Japanese financial regulators have reportedly introduced new regulations for cryptocurrency margin trading, local news agency Nikkei reported on March 18.The Cabinet of Japan, the executive branch of the country’s government, has reportedly approved draft amendments to Japan’s financial instruments and payment services laws, limiting leverage in cryptocurrency margin trading at two to four times the initial deposit.Margin trading is the use of borrowed funds from a broker to trade a financial asset, thus forming a collateral for the loan.The new rules — which are reportedly et to come into force in April 2020 — will require cryptocurrency exchange operators to register within 18 months of that date, which will purportedly enable the Financial Services Agency (FSA) to introduce relevant measures in regard to unregistered cryptocurrency “quasi-operators…….

Source: Japan Introduces New Regulations for Cryptocurrency Margin Trading

Mark Zuckerberg: “Encryption is decentralizing” | Crypto Insider

 

On March 6, Mark Zuckerberg published a 3000+ word essay “A Privacy-Focused Vision for Social Networking”. In the essay, he outlines the problems faced by Facebook, the Internet and the society, as well as his vision of the future.Lately, the rumors have been swarming about Facebook adding blockchain technology and even introducing its own cryptocurrency. In relation to this series of events, it remains to be seen if Mr. Zuckerberg provides any validation for the rumors mentioned in his address.

Source: Mark Zuckerberg: “Encryption is decentralizing” | Crypto Insider

 

 

Alternative Investment Firm Regal Assets Expands Crypto Reach to Canada | BTCMANAGER

Regal Assets is one of North America’s most trusted alternative investment firms. The company has recently announced it was expanding its service to support Registered Retirement Savings Plan (RRSP) for Tax-Free Savings Account (TFSA) Canadian investors. According to reports, Regal Assets, a firm that specializes in offering alternative investment services for retirement account holders, has officially announced it was opening its operations in Canada. By expanding to Canada, Regal Assets will enable an alternative investment vehicle for investors wanting to have a diversified investment portfolio…….

Source: Alternative Investment Firm Regal Assets Expands Crypto Reach to Canada | BTCMANAGER

Only 7 out of 21 Crypto Exchanges Pass South Korean Government Audit | BTCMANAGER

The South Korean Government recently conducted a security audit on 21 Cryptocurrency exchanges and according to a local news story published on January 10, 2019, only seven of them passed the audit. The audit took place between September and December 2018 and out of the 21 surveyed, Bithumb, Coinone, and Korbit, along with four others, made the grade. This means that the 14 other exchanges are still vulnerable to attack as far as the government is concerned…….

Source: Only 7 out of 21 Crypto Exchanges Pass South Korean Government Audit | BTCMANAGER

Japan May Approve Cryptocurrency ETFs After Saying No to Futures: Report

The Financial Services Agency of Japan is considering approving exchange-traded funds which track digital assets, Bloomberg reports. According to sources who confided in Bloomberg, the financial regulator is at the moment gauging sector interest in exchange-traded funds tracking cryptocurrencies. This comes less than a month since the financial watchdog put aside plans for cryptocurrency futures. Consequently, the regulator abandoned efforts to revise Japan’s securities law, a move that would have seen the listing of cryptocurrency options and futures on major financial exchanges.

Source: Japan May Approve Cryptocurrency ETFs After Saying No to Futures: Report

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