Two Bills in Hawaii to Capture Virtual Currency

Hawaiian lawmakers are aiming to address cryptocurrency by updating money transmission law in the state
31 January 2018   121

Last week the Hawaiian Senate introduced two bills which are aiming to define and include cryptocurrencies within domain of the state's Money Transmitters Act.

If passed, two bills, HI SB2853 and HI SB3082, would require a license to transmit cryptocurrencies. According to those two bills, persons or businesses must issue a warning to consumers prior to enabling such transactions.

Nevertheless, the legislation exempts exchanges from section 489D-8 of the Act, mandating money transmitters to maintain reserved cash which is equal to the virtual funds.

However, the bill HI SB3082 warns that cryptocurrency is not backed by any government. The cryptocurrency can potentially be lost due to a computer failure, malicious software attack, lack of security, loss of a private key, change in value or closure of a cryptocurrency exchange company.

Both bills were published in 2017 as a guide for states in order to enact policies to this new fast-developing technology.

Play2live announced the release of its MVP and a token sale

Blockchain-based streaming platform for gamers release a full-fledged esports streaming service
21 February 2018   20

On February 21 the first blockchain-based streaming platform for gamers, Play2live, opened its LevelUp Coin (LUC) token sale event with a deadline on March 14 at 17:00 UTC along with the rolling out of its MVP. The platform is based on BitShares 2.0, already successfully passed a heavy testing stage with with live matches and streams.

The service is already capable of accepting around 200,000 viewers. A special tournament for CS:GO - CryptoMasters with the world's first prize pool entirely comprised of the virtual currency ($100,000 worth of LUC) is also announced under the banner of Play2live. The event is set to take place in Minsk, Belarus on February 24-25. The broadcast will be arranged in 7 languages - English, Russian, Chinese, Korean, Spanish, Portuguese, and German.

The service also features a voting system during matches using the same LUC. This token acts as an internal currency that can be easily converted to another cryptocurrency or a fiat currency by means of the Play2live's API.

The company itself was established in 2017. Its purpose is to merge blockchain technology and streaming service to provide all the participants of the streaming process a seamless platform for prioritizes interaction and encourages the diversity of monetization schemes. It is reported that Play2live will have up to 15 sources of revenue.

On February 21 at 17:00 UTC CEO of Play2live opened the token sale with a Q&A stream session with topics concerning the update of P2l, product and sale related matters.