The Daily: Crypto-Inheritance Service, Taiwanese Stablecoin, Bitcoin Gift Cards
Featured in today’s edition of Bitcoin in Brief are a service that allows inheritance of crypto assets and a new stablecoin launched in Taiwan. Also in our daily roundup, crypto terminals have been installed by a restaurant chain in Hong Kong, and a company now offers bitcoin gift cards for easier access to the crypto space.
Startup Offers Crypto-Inheritance Service
A new platform supporting a crypto-inheritance service has been launched by a Latvian startup. The idea was born when cofounder Normunds Kvilis experienced health issues while on a business trip. “It occurred to me then that there was no provision for my own crypto assets, should something serious happen to me,” Kvilis said, quoted by the ICO examiner. “That was essentially where Digipulse came from – I realized there was simply no service on the market for this kind of thing,” he explained.
Digipulse uses a blockchain-based vault allowing its users to upload data that is then stored securely for as long as the platform observes online activity from the account holder. In case no activity is observed over a period of time, the platform sends an automated message to a specified recipient with details on how to access the vault’s contents.
According to Kvilis, the business model extends beyond inheritance, incorporating any situation which requires the automated transmission of assets or other information, like documents, passwords and cryptocurrency wallet keys, in accordance with certain pre-set criteria. The platform, which conducted its ICO in October last year, is currently available both as an app and a web-based solution.
Quoted by LSM, Digipulse Head of Business Development, Jānis Zaltāns, added: “We see an increasing trend amongst tech giants like Microsoft, Google, Facebook and Twitter towards developing tools for managing their inactive accounts. However, each service can only operate within their own platforms. Digipulse’s B2B ‘Pulse Network’ aims to provide a unified service for enterprises and user bases of all sizes.”
New Stablecoin Pegged to the Taiwanese Dollar
A new digital currency, another so-called stablecoin, has been introduced by a company that operates one of the major payment processors in Taiwan. Green World Fintech Services says the crypto is pegged to the New Taiwan Dollar (NTD). The coin has been created using the Ethereum network and is called Taiwan Digital Token (TWDT).
Local media reported that the value of the ERC20 token will be calculated according to the NTD market. Green World claims to have patented a dollar-to-token process that is supposed to protect the TWDT from fraud and money laundering risks.
The project will be realized in cooperation with some established Taiwanese banks. The crypto accounts of TWDT users will be tied to “trusted bank accounts” in order to verify personal data before transactions are permitted.
After the launch, the Green World plans to offer the tokens online and through terminals located in some retail stores. The company hopes that the NTD peg will increase confidence in TWDT among Taiwanese users who seem to be the main target group of the stablecoin.
Hong Kong Restaurants Install Crypto Payment Terminals
A chain of organic food restaurants and other associated businesses in Hong Kong now accepts cryptocurrency. The service has been introduced through a partnership between the conglomeration, FAMA Group, and Pundi X, a company that produces and installs point-of-sale devices supporting crypto payments.
The Pundi X terminals accept a number of cryptocurrencies including bitcoin (BTC), ethereum (ETH), and the company’s own token, NPXS. They are also capable of processing transactions from other cryptocurrency wallets through a QR code scan. Once a payment is accepted, customers are also issued a paper receipt.
According to Pundi X CEO, Zac Cheah, 25,000 crypto terminals have been ordered already by businesses in Japan, Singapore, South Korea, and Switzerland in the last six months. The company hopes to supply at least 100,000 Pundi XPOS units globally within the next three years.
Bitcoin Gift Cards to Improve Access to the Crypto Space
Used by individuals who don’t have direct access to the banking system for various reasons, including legal status or age, traditional gift cards have been offering their holders the opportunity to purchase products and services without a bank account or a credit card. Applied in the crypto space, gift cards can significantly improve access to cryptocurrencies and crypto payments.
A startup is now working to do exactly that. Kaiusb offers a hardware-software USB wallet which holds an amount of bitcoin (BTC) or ethereum (ETH) determined at the time of order. The product, KUSB, is currently available online, but the team plans to start selling it at a number of physical stores and through other online retailers by the end of this year.
What are your thoughts on today’s news tidbits? Tell is in the comments section below.
Images courtesy of Shutterstock, Pundi X, Kaiusb.
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