Hayver Utilizes Blockchain to Help Alcohol Addicts

US startup helps drug and alcohol addicts remain sober by paying them cryptocurrency
30 January 2018   105

A startup launched this week in the US, Hayver, states it wants to incentivize behaviour of addicts to remain sober. The company created a software solution with flexible open architecture and cryptocurrency incentives.

Every day as a member logs into the application, a randomized utility decides whether he/she should be tested and the peer group notified. Selected members use urine screening cup and then the results are verified by one of the member’s “Circle of Support” partners. The recovery history is based on check-in rates, test compliance, results, etc.

Hayver also launched its own cryptocurrency as a reward to further encourage its clients be abstinent. The service offers peer-to-peer support, continuous peer-to-peer monitoring and assessment tools for home care relying clients.

According to Dr. John M. Carpenter, co-founder and chief medical officer of Hayver Corporation, physicians, therapists and counselors have acknowledged the potential of Hayver and decided to approve the implementation of the system.

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   55

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.