VideoCoin introduces a new blockchain with cloud-based video services

  A new network aims to leverage unused computing power for decentralized video encoding, storage and distribution
09 February 2018   92

Co-founder of Live Planet, CNET and Salesforce.com Halsey Minor last month announced the launch of a VideoCoin network. The company is going to provide a low-cost video encoding, storage and content distribution system based in the cloud running on a new blockchain and with a native protocol token VID.

The new blockchain will be designed for fast transactions and combine Proof-of-Stake and Proof-of-Work concepts. Using peer-to-peer encrypted distribution and developing a new open APIs VideoCoin plans to spawn a new generation of video application. And as the first application, a project Live Planet that allows easy capture and distribution of live VR and 360° videos will soon roll out.

Several high profile figures are collaborating with Halsey on the project: Chief Architect of the Intel Video Transcode Service, Devadutta Ghat; two-time Emmy Award winner and Governor of Interactive Media at the Television Academy, Seth Shapiro and SVP of Digital Video Initiatives at Paramount Pictures and Technicolor, Seth Skolnik.

VideoCoin creates a new class of miners who do real work, not just accounting. Blockchain is the breakthrough innovation that lets us create a better infrastructure for the future of online video.

 

Halsey Minor

CEO

ICO will be held in early 2018.

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   78

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.