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KuCoin Hack: We Never Learn Our Lessons - CDO

KuCoin Hack: We Never Learn Our Lessons - CDO | The MarTech Alert | Scoop.it
On September 26, cryptocurrency exchange KuCoin issued a statement that it experienced a ‘security incident’. At that point, some USD 150 million in BTC (bitcoin), ERC-20 (ethereum-based tokens), and other cryptocurrencies were estimated to be stolen. 

Over the next couple of days, that amount had grown to USD 280 million, effectively making the KuCoin hack the third-largest crypto hack. Only Coincheck, which suffered a USD 534.8 million hack in 2018, and Mt. Gox, which lost USD 460 million in 2014 to another hack, were ahead in terms of loss.

According to Johnny Lyu, KuCoin’s chief executive officer, the funds were emptied out of KuCoin’s hot wallets. The assets in their cold wallets “remained safe and unharmed.” Hot wallets are used as temporary storage systems for assets that are being traded on exchange platforms and are often a point of weakness in the security architecture of exchanges. 
CYDigital/marteq.ios insight:

Why would they store so much in hot wallets? FWIW: cold wallets is the path to take when you're using crypto as your digital reward system.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Is Bitcoin Legal in the USA? (2020 Update) - Decrypt

Is Bitcoin Legal in the USA? (2020 Update) - Decrypt | The MarTech Alert | Scoop.it
  • Under federal law, Bitcoin is defined as a commodity.
  • But a patchwork of state laws means that the legal status of activities associated with it varies within the US.
  • Bitcoin's legal status is currently in a state of flux in the US, and elsewhere.
  • October 2020 saw the release of the US Attorney General's "Cryptocurrency Enforcement Framework", which noted that cryptocurrencies such as Bitcoin are “vitally important” to the US and its allies, as long as it “does not imperil” public safety. It also stated that private industry, regulators and elected officials will "need to take steps to ensure cryptocurrency is not used as a platform for illegality." Exactly what those steps are, are unclear; nevertheless, the fact that the report highlights the "transformative potential" of cryptocurrency suggests that an outright ban on Bitcoin is off the cards.
CYDigital/marteq.ios insight:

An excellent review of the to-date status of crypto and Bitcoin. The SEC rules the roost when it comes to creating your own cryptocurrency. The paths are very clear as to what you can and cannot do within the U.S., and the use of crypto as the means of a digital reward is very promising.

 

See how extended zero-party data is your greatest marketing resource...and you can tap into it right now!: http://un.marteq.io/WP1/ #martech #marketing

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Coca-Cola's support of crypto payments firm shows how far we've come - Calvin Ayre

Coca-Cola's support of crypto payments firm shows how far we've come - Calvin Ayre | The MarTech Alert | Scoop.it
As far as the soft drink industry goes, Coca-Cola is still king. According to Statista, it controls 43.3% of the market, well above second-place PepsiCo, which has 24.9%. With that much control, Coca-Cola knows how to best utilize its resources and plan for the future, and it apparently sees a lot of possibilities for what cryptocurrency will bring to consumers. Through its corporate venture investment arm, Amatil X, Coca-Cola has invested in a crypto payment provider, and this is going to set the stage for how digital currency is accepted as an alternative to fiat by everything from vending machines to retail stores. 
CYDigital/marteq.ios insight:

This should wake up the neighborhood regarding the acceptance of crypto.

 

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Top Football clubs are now using blockchain - Nairametrics

Top Football clubs are now using blockchain - Nairametrics | The MarTech Alert | Scoop.it
Football clubs are now using blockchain, to facilitate better experiences for their fans.

A leading Turkish football club, Trabzonspor, in partnership with Chiliz, recently announced that they would begin a $TRA Fan Token on fan voting & rewards app Socios.com and the Chiliz Exchange, a global tokenized sports exchange.

$TRA token owners will be able to influence club decisions to vote in many polls each season on Socios.com, earn rewards linked to the club, other creative digital experiences, and real-life activations, such as meeting players and watching games like a VIP when fans return to the stadiums.
CYDigital/marteq.ios insight:

Blockchain and digital rewards ("cryptocurrency") hold significant possibilities for marketers in the professional (and collegiate) sports marketplaces. Here are a few examples.

 

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New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund | News

New SEC Filing Shows Fidelity Preparing to Launch Bitcoin Fund | News | The MarTech Alert | Scoop.it
The SEC published Wednesday a Notice of Exempt Offering of Securities (Form D) filing for a new bitcoin fund. The issuer is Wise Origin Bitcoin Index Fund I, incorporated in Delaware this year. The minimum investment for this new bitcoin fund that will be accepted from any outside investor is $100,000. Fidelity Brokerage Services and Fidelity Distributors Company will receive sales compensation.

CYDigital/marteq.ios insight:

Forwarding this just to point out the continued mainstreaming of digital currency.

 

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Should New Cryptocurrency Investors Buy Bitcoin or Litecoin? - Bitrates

Should New Cryptocurrency Investors Buy Bitcoin or Litecoin? - Bitrates | The MarTech Alert | Scoop.it
Cryptocurrency investors who are looking to make an investment have several cryptocurrencies to choose from. The most popular choice is Bitcoin, the largest cryptocurrency measured by market cap and the first blockchain ever invented.

Litecoin is also a noteworthy investment. Originally created as a "code fork" of Bitcoin, it has introduced numerous improvements while retaining Bitcoin's key features. It is a good alternative choice for first-time cryptocurrency investors.

In this article, we'll compare the features of each coin.
CYDigital/marteq.ios insight:

Quick and easy primer. Why is this pertinent to the marketer? Crypto will continue to grow and play a role in programs and promotions.

 

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MicroStrategy Buys 0.1 Percent Of All Bitcoin – Bitcoin Magazine

MicroStrategy Buys 0.1 Percent Of All Bitcoin – Bitcoin Magazine | The MarTech Alert | Scoop.it
In the midst of massive quantitative easing, a global pandemic and uncertainty for the future of the U.S. dollar, a whopping 21,454 BTC was just swiped off the market by intelligence and mobile software company MicroStrategy. 

Bitcoin Twitter picked up on the news yesterday when Matt Walsh and Nic Carter shared the story, but it became public knowledge in a MicroStrategy filing with the U.S. Securities and Exchange Commission. A MicroStrategy press release indicates that the firm had been planning the move as part of a capital allocation strategy that it had announced in its Q2 2020 financial results release on July 28. 
CYDigital/marteq.ios insight:

It's happening right beneath our feet. Marketers need to pay a bit of attention to crypto and its role in marketing strategy.

 

Follow us on LinkedIn and qualify to use the Marteq platform at no charge! https://www.linkedin.com/company/marteq-io #martech #marketing

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Bitcoin and Ethereum, Key Virtual Assets in IMF Report, Companies Agree - Crypto-Economy

Bitcoin and Ethereum, Key Virtual Assets in IMF Report, Companies Agree - Crypto-Economy | The MarTech Alert | Scoop.it
Bitcoin and Ethereum have been identified by the International Monetary Fund (IMF) as one of the most used digital assets in the world. IMF revealed this in its latest report on that focused on the technical analysis of financial management of member countries. IMF also revealed that crypto assets had been receiving growing adoption across its member nations in the first half of the year.

IMF, however, highlighted that there were some concerns regarding the regulation of Bitcoin especially the spot markets which raises questions on the risks for investors since the assets were commodities and not securities.

Another major issue raised by IMF was the absence of regulatory control regarding the buying and selling of Bitcoin within and outside the US. The report noted that problem had led to several states in the US creating regulatory certificates with BitLicense an example by the New York State Government.
CYDigital/marteq.ios insight:

Just an FYI as to the scope of the major cryptocurrencies. Note that US regulation is coming into existence around these major cryptocurrencies, and the natural extension will be to cover other cryptocurrencies should the SEC be in alignment.

 

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Marketing technology provider Aqilliz and telecoms giant MyRepublic create blockchain-based loyalty programme - Crypto-Reporter

Marketing technology provider Aqilliz and telecoms giant MyRepublic create blockchain-based loyalty programme - Crypto-Reporter | The MarTech Alert | Scoop.it
Aqilliz, a technology company that specialises in blockchain-powered solutions for digital marketing, completed a loyalty programme pilot in partnership with multinational internet service and telecommunications provider, MyRepublic. Entitled MyRewards, the blockchain-based loyalty programme application was developed as part of the IMDA Blockchain Challenge which looks to explore the applications of blockchain to drive greater operational efficiency and business model innovation in the telecommunications sector.

As part of this pilot, post-paid MyRepublic subscribers received an invitation to download the MyRewards mobile application, available on both the Google Play and iOS app store. From February to April 2020, MyRepublic customers could earn points based on their monthly bill which could be redeemed at any of the company’s 19 retail outlets islandwide through an in-app QR code system. In addition, MyRepublic users also had the option of earning points by connecting to over 20,000 Wireless@SG hotspots islandwide at locations including shopping centres, libraries, community centres, and other public venues. MyRewards points could then be spent on in-app purchases for retail vouchers and other branded offers, rewarding consumers for their participation.
CYDigital/marteq.ios insight:

Loyalty programs are a natural sandbox for blockchain and crypto, and this is a great use case.

 

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Why Grayscale's New Digital Currency Ad Could Bring Crypto Investing To Millions – Cointelegraph

Why Grayscale's New Digital Currency Ad Could Bring Crypto Investing To Millions – Cointelegraph | The MarTech Alert | Scoop.it
Just as Merrill Lynch's 1948 New York Times ad introduced boomers to stocks, Grayscale's cable news ad blitz suggests the time is right for digital currency.
CYDigital/marteq.ios insight:

And by digital currency it means bitcoin. Look: we've heard that the time is right consistently over the past few years...until it wasn't. Perhaps this will work: the person behind it is one of the largest backers of crypto companies in the country. Who knows?

 

But there's a role for digital currency (crypto) in today's marketing strategies. More coming on this...

 

marteq.io is the peak of personalization, based on the consumer's full digital story. Learn more: https://www.marteq.io #martech #marketing

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New York Regulator Fast-Tracks 10 Cryptocurrencies | Regulation - Bitcoin.com

New York Regulator Fast-Tracks 10 Cryptocurrencies | Regulation - Bitcoin.com | The MarTech Alert | Scoop.it
The New York State Department of Financial Services has created a Greenlist of pre-approved cryptocurrencies for custody service and listing. Meanwhile, crypto-friendly SEC Commissioner Hester Peirce, also known as Crypto Mom, has been confirmed for another term at the commission.

The New York State Department of financial services (DFS), the Bitlicense regulator, has published a Greenlist comprising 10 cryptocurrencies for custody and eight cryptocurrencies for listing. “Any licensed entity may use coins on the Greenlist for their approved purpose(s),” the regulator explained.
CYDigital/marteq.ios insight:

These are two SIGNIFICANT events. The NYS announcement is yet another step closer to mainstreaming crypto, and Hester Peirce's confirmation for another term is another indication of green-lighting crypto. So for the marketer: how can you use cryptocurrency in your marketing efforts?

 

marteq.io is the peak of personalization, based on the consumer's full digital story. Learn more: https://www.marteq.io #martech #marketing

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Can Facebook's Libra 2.0 Live Up To Its Promise? | Hacker Noon

Can Facebook's Libra 2.0 Live Up To Its Promise? | Hacker Noon | The MarTech Alert | Scoop.it
Libra version 2.0 will welcome a new form of ≋LBR Coins which will accommodate other currencies looking to join its ecosystem. For now, they have only mentioned variations for the US Dollar (≋USD), European Euro (≋EUR) and British Pounds (≋GBP). Libra will certainly increase cooperation with other regulators and central banks as more countries join in.
For places where there is no stable currency, the standard Libra Token will fill the void to increase financial inclusion. The standard ≋LBR will be a composite of multi-currency Libra formed by single-currency stablecoins. The exact composition and share of the every single-currency stablecoin will be determined by nominal weights, such as ≋USD 0.50, ≋EUR 0.18, ≋GBP 0.11, and so on.
CYDigital/marteq.ios insight:

In spite of Libra 1.0's shortcomings, and the potential issues with Libra 2.0, there's no stopping this train. It's going to happen, and it will open the door for you to deploy crypto as a part of your CX.

 

marteq.io is the peak of personalization, based on the consumer's full digital story. Learn more: https://www.marteq.io #martech #marketing

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Rally launches Creator Coin cryptocurrency for influencers - VentureBeat

Rally launches Creator Coin cryptocurrency for influencers - VentureBeat | The MarTech Alert | Scoop.it
With Creator Coin, Rally will enable influencers to create their own flavor of cryptocurrency that they can use to reward fans and build engagement. 

As an example, a streamer could make a Creator Coin and give it away to fans who spend a certain time watching their livestreams. The fans could in turn use that custom-branded cryptocurrency to buy virtual items in a game or purchase items from another streamer. And they wouldn’t have to go to the trouble of setting up a cryptocurrency wallet or creating an account.

Rally worked with Chou’s other startup, the blockchain gaming company Forte, to figure out some of the foundational technology behind Creator Coins. But Forte remains a separate company from what Chou is doing at Rally. Forte generally works with large enterprise teams, while Rally is working with influencers.

The Creator Coins are a digital currency that can be custom branded to each creator. They are also the foundational building blocks in an easy-to-use blockchain toolkit that will allow creators to unlock better engagement and monetization models in their communities.
CYDigital/marteq.ios insight:

I'm forwarding this to you to show that rewards can be cryptocurrency-based. And atop what the article presents: your cryptocurrency used by consumers can be traded on an exchange.

 

marteq.io is the peak of personalization, based on the consumer's full digital story. Learn more: https://www.marteq.io #martech #marketing

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The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - JDSupra

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts - JDSupra | The MarTech Alert | Scoop.it
On June 24, 2020, the New York State Department of Financial Services (DFS) announced a set of policies and proposals to clarify and streamline the regulatory landscape for virtual currency entities doing business within the state. These initiatives all relate to the licensing framework DFS established in June 2015 in anticipation of a proliferation of blockchain technology and virtual currencies, 23 NYCRR Part 200 (the 2015 Licensing Regime). The licensure and compliance requirements imposed by the 2015 Licensing Regime caused the BitLicense — the business license issued by DFS under the 2015 Licensing Regime permitting companies to engage in virtual currency activities — to be viewed as an indication of quality and security. At the same time, the standards and procedures under the 2015 Licensing Regime have been widely criticized as expensive, time-consuming and onerous, and have caused a number of virtual currency business to cease either their operations or plans to operate within New York.

The Self-Certification Policy allows a BitLicensee to create an internal virtual currency-listing policy through which it can self-certify the use of new virtual currencies (in addition to those permitted under the Greenlist Policy) without obtaining case-by-case approval from DFS. Prior to listing new virtual currencies through an internal coin-listing policy, a BitLicensee must obtain DFS approval that the policy meets certain criteria to protect consumer welfare.
CYDigital/marteq.ios insight:

Relevance: regulations are slowly moving into place around the launch and management of cryptocurrencies. This is important as crypto can be used as a basis for rewarding consumers for access to their data. What is not entirely clear is how state-level regulation meshes with SEC guidance.

 

marteq.io is the peak of personalization, where consumers share their full digital story with brands and retailers. Learn more: https://www.marteq.io #martech #marketing

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Kin launches ad network to help generate demand for its cryptocurrency - BetaKit

Kin launches ad network to help generate demand for its cryptocurrency - BetaKit | The MarTech Alert | Scoop.it
Digital cryptocurrency ecosystem Kin, an organization started by Kik, has launched an independent ad network that allows consumers to earn Kin in exchange for viewing advertisements.

The network would appear to operate as a form of incentivized advertising, a format currently used by many mobile entertainment apps, such as CandyCrush. Kin’s program allows app developers to reward users for viewing ads and create more impressions and awareness for advertisers. Kin said the goal is that this system would generate “real consumer and advertiser demand” for its cryptocurrency.

Over 5.5 million users are earning Kin each month across more than 50 apps, the cryptocurrency has achieved a level of scale that is attractive to advertisers.
CYDigital/marteq.ios insight:

Another proof point that cryptocurrency is a completely valid means to reward consumers.

 

marteq.io delivers zero party data solutions that significantly reduce digital advertising costs. Learn more: https://www.marteq.io #martech #marketing #adtech

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Senator proposes data privacy bill with serious punishments

Senator proposes data privacy bill with serious punishments | The MarTech Alert | Scoop.it
If the bill were a law during Facebook’s privacy scandals, Mark Zuckerberg would face jail time, Sen. Ron Wyden says.
CYDigital/marteq.ios insight:

At CYDigital we are flipping the script. Our Consumers won't be packaged up and sold to advertisers instead we will package up advertisers and their offerings to be presented to our Consumers. The control to interact goes to the Consumer, where it should be.

Come see what we are doing www.cyd.digital 

CYDigital/marteq.io's curator insight, October 22, 2019 8:16 AM

At CYDigital we are flipping the script. Our Consumers won't be packaged up and sold to advertisers instead we will package up advertisers and their offerings to be presented to our Consumers. The control to interact goes to the Consumer, where it should be.