Blockstream Launched Micropayment System Lightning Charge

Blockstream blockchain company introduced the launch of Lightning Charge micropayment system in order to make accepting payments through Lightning easier
17 January 2018   225

Blockstream, a provider of blockchain technologies, which maintains a range of software and hardware solutions and professional services to companies deploying new blockchain-based networks, introduced Lightning Charge, a new micropayment processing system that should make it easy to build apps on top of Lightning.

The decision to develop Lightning Charge was made because Blockstream reported some difficulties in integration with credit card companies and with existing online payment systems, and aspired to make it easier than ever to accept payments through Lightning.

Lightning Charge was designed by independent developer and was stated to make building apps on top of Lightning simpler. Lightning Charge is a micropayment processing system written in node.js, which exposes the functionality of c-lightning through its REST API, which can be accessed through JavaScript and PHP libraries, both of which have also been released through the Elements Project.

Web developers will be able to work with c-lightning through their normal programming techniques, and they’ll also get expanded functionality such as currency conversion, invoice metadata, streaming payment updates, and webhooks.
 

Blockstream Blog

Moreover, Lightning Charge will power Blockstream Store, a working e-commerce site that was launched by the company on January 16, 2018.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   32

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.