Infinity Economics to Launch Escrow Service

The Escrow Service will be implemented approximately on April 28, 2018 as of block 685.560
02 April 2018   592

The Infinity Economics Platform states to be a community project since its inception, as the decision-making power rests with all community members. The platform uses Elliptic Curve Cryptography (ECC) and SHA256 hashing algorithms to provide a balance between security and performance.

At the end of March Infinity Economics has published core update with a roadmap, according to which the Escrow Service will be implemented approximately on April 28, 2018 so as of block 685.560. The Escrow Service enables secure payments by retaining the buyer’s coins until the terms of the sale are met and the buyer releases the payment to the seller. In most cases that should eliminate disputes, and no further measures by third parties would be required.

Infinity Economics roadmapInfinity Economics Roadmap

Moreover, Infinity Economics plans to launch Smart Contracs by May 5 respectively at the time of block 695.640 release. Smart contracts will automatically fulfil the conditions of a contract according to a predetermined procedure (if-then-else-logic), and they will be deployed on the Infinity Economics blockchain, having the potential to enable use of the Internet of things to the mass market.

At the moment of press, these are main market parameters of Infinity Economics:

Average price: $0,012691
24h volume: $164 046

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   53

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.
 

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.