Five Million Users reached by Philippines’ Crypto Wallet

Philippines’ Coins.ph reported it reached an immense 5 million users this week for its mobile payments application and hot crypto wallet
31 May 2018   2366

The company also declared it is going to add 2 new popular coins: bitcoin cash (BCH) and ether (ETH). 

We are excited and proud to provide 5 million customers with access to financial services. Our focus on creating financial inclusion to all Filipinos has propelled our growth to date. Millions of our customers have already used Coins.ph’s web and mobile apps to access a wide array of financial services, including buying load, paying bills, topping up their beep™ card, and purchasing digital currencies, all without needing a bank account.
Ron Hose
CEO, Philippines’ Coins.ph

Large part of the southeast Asian archipelago’s citizens struggle with inadequate economic possibilities and poor financial services. About a half of the Philippines is living on approximately $2 a day, and its central bank, Bagko Sentral ng Pilipinas, expected early last year that 86% of Philippines’ citizens are unbanked and cannot use basic banking services as the folks in the West do every day.

Five million users has come in only 4 years for the firm. It was established by Runar Petursson and Mr. Hose, both Silicon Valley veterans. So, their services are a way for Filipinos to become banked, a potential market of over 300,000 people. In the past 2  years, it has grown a common of $10mil in venture capital funding, indicating investors believe the company to be “on” to something.

Responding to consumer demand for additional blockchain-based services with an eye for future smart contract based financial services, and will also begin supporting Bitcoin Cash (BCH) next month, in an effort to support lower cost blockchain based payments.
Ron Hose
CEO, Philippines’ Coins.ph

The customers of the firm’s platform can receive all the advantages of ever-important remittance services, card top-ups, wallet transfers, paying bills, and even online shopping. 

Court to Dismiss BCH 'Hijack' Lawsuit

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, which are Kraken, Bitmain and Roger Ver
06 February 2020   586

The court dismissed the lawsuit of the mining company United American Corp. against the Kraken exchange, its founder Jesse Powell, Bitmain, its co-founder Jihan Wu and Roger Ver, who accused them of manipulating the Bitcoin Cash market and claimed $ 4 billion in compensation. As a reason for refusal, the court pointed to the lack of jurisdiction of the case and insufficient grounds.

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, who, after the emergence of Bitcoin SV in 2018, organized the so-called “hash war” and competed for 11 days to form the longest chain. The role of the Kraken exchange in these events was due to the fact that it was the first to decide to award a ticker for the BCH chain, also called Bitcoin ABC.

The simultaneous decrease in the price of Bitcoin Cash from $ 400 to $ 200 led to a significant drop in mining revenue of UnitedCorp. The firm claimed that the defendants violated the Sherman Act (the first US antitrust law proclaiming a crime to impede free trade by creating a trust and conspiring for such a purpose), Clayton's law, which also regulates the activities of trusts, demonstrated negligence, unintentional misrepresentation, improper enrichment and treatment property in their favor.

During hash wars, the amount of computing power in the Bitcoin Cash network reached 7.88 EH / s, whereas now it is 3.99 EH / s. Due to the actions of other miners, UnitedCorp could receive a significant part of the awards it had hoped for before, and the depreciation only worsened its position.

The court dismissed the claim without further restrictions. Thus, UnitedCorp is allowed to submit its revised version again until February 28th.