Ethereum mined by NBA Team

Sacramento Kings is the first team to enter the crypto space: they are presenting crypto to fans and suggesting a local group with black communities for ether
29 June 2018   400

The Sacramento Kings, the American basketball team, began mining ether 3 weeks ago applying Nvidia mining rigs. The owner of the NBA team, Vivek Ranadive, is a computer software entrepreneur as well, and the founder of Tibco. The Sacramento Kings have been lauded by the magazine Fast Company’s yearly ranking of the world’s Most Innovative Companies in Sports.

The Kings were the first NBA team to adopt bitcoin as payment at its goods store and for season tickets in 2014. Vivek Ranadive was referred claiming that the team was a big fan of Ethereum, and planned to do something to give back to the local community. “It was obvious to us,” he explained, “let’s start mining cryptocurrency.” The benefits from the mining would go to a local group that aids blacks communities as part of a charity program.

The home to the Sacramento Kings, the Golden 1 Center, an indoor arena, has a solar rooftop that can produce up to 1.2 megawatts. Setting solar power was part of the Sacramento Kings ownership’s goal to have the country’s most technologically developed entertainment center. 

The NBA team’s business officials declared that the mining project has no direct connection with basketball at the moment, but they are sure that when players come to Sacramento they will be aware they can be presented to advanced technologies and to tech firms.

Prime Trust to Launch Custody Service for Crypto

CEO claimed his company will be the first to offer custody for any ERC-20 tokens
15 August 2018   158

Prime Trust announced the launch of the cryptocurrency custody service. This is reported by the Coindesk.

It became known that as early as the middle of July, the bitcoin storage service became available to customers, and next week support for Ethereum and ERC-20 tokens will be added.

In cryptographic storages, the access key to the wallet is stored either on a secure device not connected to the network or on paper in a safe.

Recently, information has appeared that several financial market mastodons, including Goldman Sachs, Northern Trust and Intercontinental Exchange, plan to provide custodian services for cryptocurrencies. However, according to Prime Trust head Scott Purcell, they were able to get ahead of the above-mentioned organizations.

They are trillion-dollar Fortune 100 entities, and they are just not going to move that fast. "We had had an engineering breakthrough which now enables us to easily cold-storage any ERC-20 token (along with BTC and ETH, of course).

Scott Purcell

CEO, Price Trust

Also, Scott notes that Prime Trust will be the first company to offer any ERC-20 tokens storage services.