NEO to start Open Blockchain Foundation

NEO initiated Open Blockchain Foundation (OBF) and put the unclaimed 1.8 million USD from NEO giveback plan as the first contribution to OBF
22 June 2018   396

Shoucheng Zhang, honorary chairman of OBF performed with a keynote report and had a talk with Father of Public Key Whitfield Diffie. NEO was the major sponsor for Crypto DevCon that was held on Jun 11-12 in Mountain View, California. Da Hongfei,  NEO Founder, remotely announced in his speech that NEO would donate the unclaimed USD 1.8 million from NEO giveback plan to Open Blockchain Foundation (OBF).

The Honorary Chairman and President of Academic Committee of OBF (Open Blockchain Foundation), Prof. ZHANG Shoucheng, was invited to the conference to have a fireside chat with Professor Diffie, Father of Public Key. He underlined the following:

Blockchain technology research so far has been rarely funded by the government, whereas some blockchain projects or companies are willing to donate a portion of their funds to support academic research. The mission of OBF is to support frontier academic researches in blockchain technology with the funds raised from blockchain industry. NEO’s contribution is of great significance to both OBF and the blockchain industry.
Zhang Shoucheng,
Professor, Chairman and President, Academic Committee of OBF

Professor Zhang reported that finding solutions to Quantum computing resistance, a presently popular topic, is a part of the mission of OBF. These researches will define the future of blockchain technology. 

Open Blockchain Foundation (OBF) is an independent neutral foundation started by NEO, with a mission to back the R&D of blockchain technology in general. Being the first donor of OBF, NEO donated the unclaimed amount of 1.8 million USD from the latest concluded Giveback Plan as its first contribution to OBF, followed by 10-15 million USD contribution in the impending years.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   92

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.