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GBA Healthcare Working Group Releases White Paper as First Asset in Blockchain Ethical Design Framework for Healthcare

Beginning early 2020, the Government Blockchain Association (GBA) Healthcare Working Group (HWG) began undertaking the development of an ethical design framework for blockchain solutions in the healthcare industry as a service to the public. The GBA HWG is releasing the first asset in the Blockchain Ethical Design (BED) Framework for Healthcare in the form of a White Paper.

“We are excited to offer this guidance to healthcare policymakers, decision-makers and innovators in implementing blockchain featured technology in the healthcare space. The BED Framework for Healthcare is being developed collaboratively by members in the HWG including caregivers, entrepreneurs, healthcare technologists and legal professionals from around the world. We cover a comprehensive spectrum of use cases, regulatory and legal scenarios, and procedural insights based on real world experience in healthcare technology innovation. This White Paper is only the first asset in a suite of guiding tools the GBA HWG will be releasing through 2021, and we are looking forward to the feedback of our audience,” Marquis Allen, GBA Healthcare Working Group Chair

The purpose of this publication is to:

– Identify potential ethical issues of blockchain used in health service delivery
– Discuss potential ethical issues for stakeholders across the healthcare ecosystem including regulatory and compliance segments
– Propose a conceptual framework of blockchain ethics as it applies specifically to its design, implementation and use in healthcare.
– Create an outline from which the Blockchain Ethical Design (BED) Framework for Healthcare and its assets, tools, documents and content will be developed by the GBA HWG.
– Raise awareness and stimulate further debate on the ethics of blockchain in the healthcare IT, health system governance and regulatory communities.

The GBA invites you to contact them for more information.

Learn more about the GBA: gbaglobal.org
For more information about the GBA Healthcare Working Group: gbaglobal.org/HWG
To download the whitepaper: gbaglobal.org/download

FinTech and cryptocurrency expert Jason Simon discusses how Canada is addressing digital currency

Canada has already created laws regarding how digital currency should be taxed, although it has not yet defined cryptocurrency as legal tender. This is seen in most countries that are working on the legalization of digital currency, and which are still not ready to put it on the same level as accepted fiat.

Around the world, many countries are actively pursuing laws and regulations to provide a legal framework for cryptocurrency. Many are providing a positive path toward acceptance, although a few have still not come to terms with the role digital currency plays in the larger financial ecosystem. Jason Simon, a FinTech and cryptocurrency expert, recently shared his insight on the state of regulations around the globe and now provides details on how Canada is addressing cryptocurrency.

Canada is one of many countries that is working on the development of guidance to introduce a legitimate and legal path for the use of cryptocurrency. Explains Simon, “Canada has already created laws regarding how digital currency should be taxed, although it has not yet defined cryptocurrency as legal tender. This is seen in most countries that are working on the legalization of digital currency, and which are still not ready to put it on the same level as accepted fiat.”

The Financial Consumer Agency of Canada states that digital currencies can be used to buy goods and services on the Internet, as well as in physical stores where accepted. It also explains that digital currency can be bought and sold on open exchanges, with the Canada Revenue Agency adding that, for tax purposes, cryptocurrency is a commodity and not a government-issued form of money. Currently, only bank notes issued by the Bank of Canada or coins issued under the Royal Canadian Mint Act can be considered legal tender.

Canada was one of the first to establish regulations for the use of cryptocurrency. In 2014, the Governor General of Canada approved a bill, Bill C-31, that amended the country’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act. As a result, cryptocurrencies are viewed as “money service businesses as they pertain to anti-money-laundering laws. This was the first time any nation established a law on digital currencies and is recognized as the world’s first legal acceptance of digital currency as it pertains to financial transactions.

Canada has continued to update its cryptocurrency laws since then, including how it is defined as it pertains to security laws. Simon adds, “In August 2017, the Canadian Securities Administrators provided an update on how securities law requirements apply to things like initial coin offerings (ICO), initial token offerings, cryptocurrency investment funds and more. 

This established clear-cut guidance for how initiatives like an ICO could be conducted and what an issuer’s responsibilities are in terms of the law. The update has gone a long way to protect consumers, even though there have still been some isolated abuse, such as that involving the failed Quadriga cryptocurrency exchange two years ago.”

As the cryptocurrency industry has evolved, Canada has continued to support it, being the first to approve a blockchain exchange-traded fund (ETF). That came in February 2018, when the Ontario Securities Commission gave a green light to the Blockchain Technologies ETF, and more investment funds have emerged since then. In the middle of last month, the Ontario Securities Commission approved another ETF, this one from Evolve Funds. It is listed on the Toronto Stock Exchange under the ticker symbol EBIT, and was seen as a potential catalyst for the introduction of cryptocurrency ETFs in the US.

In another example of Canada’s positive reaction to digital currency, a new stablecoin is being introduced by VersaBank. Simon states, “The VCAD stablecoin is being introduced by VersaBank, a bank located in Canada. VCAD will be backed by Canadian dollars, making it the first digital currency issued and backed by deposits through a bank in North America. This is another example of the constantly evolving role digital currency has in the financial ecosystem, and the next couple of years will see even more progress made.”

About Jason Simon

Jason Simon is a FinTech and digital payments expert who became involved in cryptocurrencies when they were first introduced. He enthusiastically follows what is happening in the evolving world of finance, excited about the prospects digital currencies offer global consumerism. When he’s not involved in helping advance the digital payments space, he enjoys spending time with his family and improving his community.

 

Former Head of Operations of Binance Global Fiat Exchanges becomes COO of BitWell

BitWell has announced that Hsann, the former head of operations of Binance global fiat exchanges, has become COO at BitWell.

 

Hsann established multiple fiat exchanges, such as Binance US / Singapore / Jersey / Korea / Uganda and Tokocrypto, which enable local customers to buy crypto using fiat currency (USD, SGD, EUR, GBP etc.) under the conditions of legal compliance through all above channels with no entry barriers. He was also responsible for operations of the exchanges.

BitWell CEO Jeff Young said, “Hsann is a co-founder of BitWell, as the former head of operations of Binance global fiat exchanges, he expanded Binance business globally, significantly enhanced its international visibility. I believe that he will help BitWell grow rapidly and stably with his experiences in this area as BitWell COO.”

Hsann said, “I appreciate the trust given by the BitWell team, as a co-founder, I am really pleased to work with Jeff again. I believe we are definitely able to build BitWell into a world-leading derivatives exchange together with our fantastic team.”

About Hsann
Hsann is the co-founder and COO of BitWell. He worked with Binance as a head of operations for fiat exchanges and has launched multiple fiat exchanges. Before Binance, he worked at Flextrade, a FX trading platform serving leading financial banks and asset management funds. Flextrade’s high-performance system was trusted by many industry leaders.

Prior to Flextrade, he worked in IBM and Toshiba as a developer and project manager to develop device drivers for IBM retail store solutions to serve world-leading retail clients such as Walmart, Starbucks and others. Hsann obtained the Master of Science in Embedded Systems from Nanyang Technological University, Singapore and Master of Business Administration (Finance) from National University of Singapore.

About BitWell
Launched on 6/4/2020, BitWell is a global crypto derivatives exchange based in Singapore. It supports spot and option trading and expects to support futures trading soon. https://www.bitwellex.com.

Moonstake Partners with P2P Escrow Service Escaroo

 Today, Moonstake announces its partnership with Escaroo, a keyless blockchain-based peer-to-peer escrow service that offers an advanced smart contract solution for high profile individual and commercial clients within the real-estate, aviation and marine space.

 

Through this strategic collaboration, Moonstake will help enable staking functionality for Escaroo escrow platform, providing its users a new way to control and earn with their cryptocurrencies. As a leading staking pool platform with a strong lineup of supported digital assets and hundreds of millions assets staked, Moonstake is thrilled to support yet another esteemed institution in the industry, accelerating the connection of staking to decentralized finance. Escaroo users will soon be able to earn passive income from staking within the Cardano and Tezos ecosystems.

With the goal to help people safely create and manage crypto transactions, Escaroo utilizes its proprietary, US-patented smart contracts to facilitate transactions where funds are only released when all parties are in agreement. This allows Escaroo users to maintain funds securely within a unique individually created smart contract that is irreversible once posted to the blockchain and can only be accessed by the parties involved. Transactions are hosted on a public blockchain so one, not even Escaroo, has the ability to access funds outside of the terms set by the parties involved, putting the control of funds back into the users hands.

Lawrence Lin, CEO of Moonstake comments on the partnership: “Investors, especially in the crypto space, are always looking for security and profitability without compromising their own convenience. We are happy to help Escaroo enable staking on their esteemed escrow platform so that Escaroo users not only can enjoy secure transactions but also earn from their idle funds on the DeFi platform of their choice. With a wide selection of PoS coins and attractive yield rates from our high-quality staking pools, we are confident that users will be pleased with their staking experience on Escaroo powered by Moonstake. By partnering with an esteemed institution, Moonstake is going strong on our journey to accelerate the growth of staking.”

“Adding staking to our platform is a natural progression for Escaroo, as it empowers our clients to put their money to work for them. They can now earn a percentage on everything they stake, thus creating a passive income stream on their investments. Being able to partner with Moonstake to bring this vision to fruition was a no brainer. With over $800 Million in assets currently being staked, it is clear Moonstake understands what’s needed to succeed in this extremely competitive world of Decentralized Finance. We are excited to be at the forefront of this brave new world of finance with them,” said Frank Pira, Founder and CEO of Escaroo.

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia’s burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan’s biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore Listed company. Industry’s reputed advisors, such as Lisk and Centrality support Moonstake’s innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 800 Million. https://www.moonstake.io/

About Escaroo

Escaroo is the safest Bitcoin and cryptocurrency escrow payment service in the world. Buy or sell anything with confidence knowing your funds are secure when using our decentralized peer-to-peer platform for personal, small business, commercial or letter-of-credit transactions. https://escaroo.com/

 

CoinSmart Closes CAD$4.5 Million Seed Funding; Plans to Expand into Europe

Canada-based cryptocurrency exchange CoinSmart has announced the closing of a CAD$4.5 million (roughly US$3.5 million) seed funding round and extensive plans to expand into Europe.

CoinSmart, owned by Simply Digital Technologies, told CoinDesk in a statement Monday the investment was raised earlier this year through the issuance of interest-bearing convertible debentures, a type of debt instrument. Investors in the round were not disclosed.

The funding will be used to expand CoinSmart’s platform into European markets and support operational changes. It will also help Simply Digital Technologies prepare for a planned reverse takeover ahead of a hoped-for public listing on the TSX Venture Exchange, said the firm.

Enabling its European expansion, CoinSmart said it has obtained a Financial Intelligence Unit license issued in Estonia. “CoinSmart’s fundamental mission is to make cryptocurrency accessible for people of all experience levels,” said CoinSmart CEO Justin Hartzman. “We’re excited about the ways in which crypto can help streamline payments within Europe’s financial system and subsequently better serve and protect our customers.”

Coinsmart (bit.ly/38b7IkQ): Justin Hartzman CEO (https://www.coinsmart.com)

CoinSmart Closes CAD$4.5 Million Seed Funding; Plans to Expand into Europe

Canada-based cryptocurrency exchange CoinSmart has announced the closing of a CAD$4.5 million (roughly US$3.5 million) seed funding round and extensive plans to expand into Europe.

CoinSmart, owned by Simply Digital Technologies, told CoinDesk in a statement Monday the investment was raised earlier this year through the issuance of interest-bearing convertible debentures, a type of debt instrument. Investors in the round were not disclosed.

The funding will be used to expand CoinSmart’s platform into European markets and support operational changes. It will also help Simply Digital Technologies prepare for a planned reverse takeover ahead of a hoped-for public listing on the TSX Venture Exchange, said the firm.

Enabling its European expansion, CoinSmart said it has obtained a Financial Intelligence Unit license issued in Estonia. “CoinSmart’s fundamental mission is to make cryptocurrency accessible for people of all experience levels,” said CoinSmart CEO Justin Hartzman. “We’re excited about the ways in which crypto can help streamline payments within Europe’s financial system and subsequently better serve and protect our customers.”