Sirin Labs outsources Finney production to Foxconn

Sirin Labs partners with Foxconn to manufacture their blockchain-powered smartphone Finne
05 April 2018   387

Blockchain-connected devices has long been the topic of the talks among enthusiasts of the technology. And Sirin Labs has made big headlines with their first announcements of a whole ecosystem of IOTA's Tangle-connected devices. And now they make next step towards realization of their lofty goal.

Sirin Labs announced their partnership with FIH Mobile LTD, a subsidiary of world's largest contract electronics manufacturer Foxconn, to produce first of their lineup of blockchain-powered devices. Finney smartphone, named after famous cryptographer Hal Finney, is a result of a hugely successful ICO campaign, which gathered $157,8 million in December 2017.

one of the main selling points of the Finney is native support for blockchain applications, such as cryptocurrency wallets and ability to automatically convert tokens for use in multiple different decentralized apps without the hassle of going through an exchange.

According to the company, the specs will be adequate with 256GB of internal memory, 16-megapixel rear camera, but processor and RAM amount are for now undisclosed. Among security features Finney will, apparently, have some kind of physical security switch and a behavioral-based intrusion detection, whatever than means.

The device will be sold for quite a hefty sum of $999, but it seems the price wouldn't matter a lot to the true enthusiasts, because Sirin Labs claims that already more than 25,000 units were preordered.

Brazilian Central Bank to Issue Stablecoin

According to participants of the project, the issue of the BNDES coin will help restore public confidence in Brazilian state banks
17 December 2018   68

The state-owned Brazilian National Social Development Bank intends to issue a cryptocurrency token tied to the Brazilian real. It is reported by CoinDesk.

The pilot project for the production of a token BNDES based on Ethereum will start in January next year. At first, the coin will be used to finance cultural institutions. In particular, the bank will allocate a certain number of new tokens to the local cinema agency.

As the newspaper notes, the bank conducted experiments with steyblecoin throughout 2018. The consultant of the project for the release of a new “stable coin” will be the well-known Ethereum start-up ConsenSys.

According to representatives of the bank, the issue of the BNDES coin will help restore public confidence in Brazilian state banks, which are often criticized due to corruption scandals.

Also, the bank is confident that in the future, stablecoin can be used to finance organizations and projects from various fields.

Note that recently in Brazil there has been a trend towards liberalization of the regulation of cryptoindustry. For example, in October, the Brazilian Securities Commission allowed local investment companies to invest in a cryptocurrency ecosystem through the acquisition of derivatives and shares in foreign funds. It is noteworthy that at the beginning of the year the same financial regulator announced the prohibition of both direct investment in cryptocurrency and indirect investment through intermediaries in the person of foreign companies.