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Alibaba Group Holding Ltd. has filed a trademark lawsuit against Alibabacoin Foundation, a Dubai-based firm that raised over US$3.5 million through its initial coin offering. Alibabacoin Accused of Misleading Consumers in Lawsuit Filed by Alibaba In a complaint filed in US District Court in Manhattan, the Chinese e-commerce multinational with a market cap of $424 billion, claims that Alibabacoin Foundation’s “prominent, repeated, and intentionally misleading” use of its trademarks is intended to confuse consumers and investors to think Alibabacoin is affiliated with or endorsed by Alibaba, according to Reuters. The company behind Alibabacoin has not responded to requests for comment. Alibaba accuses Alibabacoin of using its “single-minded focus to capitalize on plaintiff’s reputation for success” by using its trademarks “without alteration, in countless instances” to sell its digital assets. US District Judge Kimba Wood has already issued a temporary restraining order which requires Alibabacoin to explain its behavior and why it is not guilty as charged. The company will have its say on April 11. The lawsuit seeks compensatory, punitive and triple damages for alleged violations of federal and New York law, plus a halt to alleged further infringements. Like many other companies, Alibaba uses litigation methods to protect its trademark against improper efforts to trade off its reputation. The complaint added that Alibaba has repeatedly stated that “it is not interested in moving into the cryptocurrency space”. Confusion over its role has spread through media, however, and Alibabacoin has “done nothing to combat or correct this confusion”. Alibabacoin Foundation has promoted the initial coin offering of ABBC, a technology optimized for distribution, finance, shopping, and security, using blockchain. The ICO was stopped at round 2 of a 6-stage crowdsale. At this stage, each ABBC was being sold for 0.00027273 BTC, or $2. The cryptocurrency developer is scheduled to release its multi-crypto wallet in June 2018 and the implementation of facial recognition on the wallet in July 2018. Alibabacoin Foundation would start ABBC blockchain miner sales in August and upgrade the facial recognition data blockchain-formation in September. Other events planned for 2018 include the launch of ABBC Shoppingmall, the launch of PC Wallet and ABBC payment solution, and to be listed in at least 15 exchanges. The launch of its ABBC exchange site is scheduled for Q2 2019. It is unclear whether the lawsuit will affect the operations of the company and its schedule. Alibaba shares are priced at $176 on the New York Stock Exchange. The steady uptrend from $60 since February 2016 gave away to a ranging market since early 2018. The market failed to break the $200 barrier consistently. Image Courtesy of Shutterstock The post Alibaba Files Trademark Lawsuit Against Alibabacoin appeared first on NewsBTC.
India’s Supreme Court has upheld the central bank’s directive of prohibiting banks from offering services to the domestic cryptocurrency sector following a hearing today. On Friday, India’s Supreme Court held its latest hearing of the case against the Reserve Bank of India’s (RBI) circular forbidding all regulated financial institutions, including banks, to provide services to The post India’s Cryptocurrency Banking Ban Continues, Final Petition Hearing in September appeared first on CCN
Viola.AI Announces New Joint Venture Partnership with MegaX to Build AI-Driven Worldwide Shopping Experience...
SINGAPORE, 9 March 2018 – The World’s First Blockchain and AI-driven Marketplace from dating, courtship and marriage, Viola.AI announced today a new exciting Joint Venture partnership with MegaX, a wide and growing retail network of more than 40,000 brands with existing 5,000,000 customers — to build the future AI-driven Retail Shopping experience for millennials. This strategic partnership will allow Viola.AI to be the AI technology to be integrated into MegaX Retail platform and network through Viola.AI’s open source, where the AI with personalized machine learning engine and natural language empathy feature from Viola.AI will be able to provide timely recommendations to address each user’s needs for goods and services from over 40,000 brands in 27 countries. MegaX also hosts a first-of-its-kind global millennial online mall, created by fashion and lifestyle conglomerate iFashion Group that combines its native cryptocurrency MGX, with the emerging retail network. It was formed due to the need for a growing pool of independent, exciting and eclectic brands to reach their targeted market. MegaX also hosts large-scale music and retail events, such as Artbox Singapore, which had a turnout of 600,000 consumers over 2 weekends in 2017. Holders of VIOLA tokens will be able to use their tokens to make transactions in the future AI-driven retail network in MegaX and both sides are exploring mutual airdrops for their respective community and customer base. “We are very excited at this partnership with Jeremy and his team at MegaX! Since the beginning, we aim for Viola.AI to be open source together with ready APIs that easily adapted and deployed across industries and platforms. Through this partnership with MegaX, we can maximize and develop on our goal of helping different industries in the world with greater personalization, where our AI can prompt relevant goods and services based on their needs, timing and wherever they are. It also extends Viola.AI template into new revenue streams and market opportunity,” said Violet Lim, CEO & Co-Founder of Viola.AI. Speaking about the JV, Jeremy Khoo, Group CEO of iFashion Group and Co-founder of MegaX which has also recently closed its token sale and raising over $3.3million, and currently trades on several exchanges said, ”We envision MegaX to be the future of retail, one that adopts new technologies because we see firsthand the struggle of retail. We share this vision of not standing still and wanting to change things for the better with Violet, Jamie and their team at Viola.AI. We look forward to integrating Viola.AI to MegaX to give shoppers all over the world a better experience.” Viola.AI will be starting their Public Sale on 14 March 2018 at 12pm (UTC+8). It’s an exciting time for the company, after it concluded its strong pre-sale, selling all allocated 7.5 million tokens 5 days early. It also just recently announced partnerships with 7 lifestyle merchants around Asia and the team is currently working on its MVP, set to launch in May 2018. For more information on Viola.AI and to join the whitelist, visit www.viola.ai Join the discussion on Viola.AI Telegram: https://t.me/ViolaAI About Viola.AI Viola.AI is an ever-improving, decentralized and secure A.I. Driven Marketplace that gives data-driven advice, recommendations, concierge and matches to helps singles to be effective and efficient in finding love while also helping couples to sustain and better their relationships with their significant other. Harnessing on AI, blockchain technology and trustless smart contracts, Viola.AI sets to revolutionize the love industry. About iFashion Group iFashion is a leading venture conglomerate company focused on investing and acquiring fashion and lifestyle e-commerce ventures based in Southeast Asia. To create synergy among businesses, the Group aggregates highly complementary businesses via mergers and acquisitions in its sectors of interest. The Group acquired, most notably, local O2O brands Dressabelle and Megafash, in the lead up to an IPO. Press Contact Christina Thung Head of PR [email protected] Viola.AI community: Telegram The post Viola.AI Announces New Joint Venture Partnership with MegaX to Build AI-Driven Worldwide Shopping Experience for The Future appeared first on Bitcoin Network, News, Charts, Guides & Analysis.
The price of bitcoin, the world’s largest cryptocurrency by market capitalization, jumped 6.5 percent Sunday to rise back...
Key Points Bitcoin price found support near the $3,125 level and later recovered against the US Dollar. There is a major bearish trend line formed with resistance at $3,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to correct towards $3,320 if there is an upside break above the $3,220 resistance. Bitcoin price is showing positive signs above $3,120 against the US Dollar. BTC could rebound in the short term towards the $3,320 or $3,400 levels. Bitcoin Price Analysis This past week, there was fresh decline below $3,300 in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,250 and $3,200 support levels. A new low was formed at $3,121 and later the price formed a decent support above $3,120. As a result, the price started a short term correction and traded above the $3,180 and $3,200 resistance levels. There was also a break above the 23.6% Fib retracement level of the last drop from the $3,487 high to $3,121 low. However, the upward move was protected by the $3,260 level and the 100 hourly simple moving average. There is also a major bearish trend line formed with resistance at $3,220 on the hourly chart of the BTC/USD pair. The current price action indicates that the price could break the trendline, $3,200, and the 100 hourly SMA. A successful close above $3,220 may push the price towards $3,300 and $3,320. The 50% Fib retracement level of the last drop from the $3,487 high to $3,121 low is also at $3,304. Looking at the chart, bitcoin price seems to be setting up for a bullish break above $3,220. If BTC buyers fail to gain momentum above $3,220, there could be a fresh slide towards $3,120 or $3,080. Looking at the technical indicators: Hourly MACD – The MACD for BTC/USD is about to move into the bullish zone. Hourly RSI (Relative Strength Index) – The RSI moved above the 50 level. Major Support Level – $3,120 Major Resistance Level – $3,325 The post Bitcoin Price Watch: BTC Hesitates, But Recovery Seems Likely appeared first on NewsBTC.
FUD is a major culprit behind Bitcoin’s continued falls Friday as mainstream media announce more ‘deaths’ and ‘bans’. #NEWS
[…] The post Litecoin Price Surges by 10% Again to $300 as Demand Skyrockets appeared first on CryptoCoinsNews.
The InsurePal crowdsale that started on January 16, 2018, closed in under 80 seconds, making a record in the history of ICOs so far. The distributed social proof insurance platform reached its token sale hard cap of $18 million within first two minutes of the crowdsale. With the latest success, the platform’s IPL tokens are being traded on Livecoin.net exchange, followed by IPL listing on other exchanges soon. About the Crowdsale In the pre-sale, InsurePal had already sold 70 percent of IPL tokens, while the remaining $5.4 million were sold out in crowdsale in 1 minute and 20 seconds. The contributors got their tokens immediately after the end of the crowdsale enabling them to start trading the tokens. Same way, it will also enable the community members who wanted to be in on the crowdsale to purchase the tokens. The number of users (20,194) who wished to buy IPL tokens in crowdsale, represents a high market demand for the IPL coins. What the Founders Say About this Achievement Talking about the way InsurePal has raised funds for its social proof based global blockchain insurance platform by achieving much appreciation and support from global community, Matt Peterman, the CEO of InsurePal says, “For us, this is a tremendous opportunity and a great honor and we are focused on the future as we wish to be fully operational in the shortest possible time. Our goal is to utilize the progress made thus far to launch the platform in six months’ period. The pilot project will take place in the UK, where we`ve already held several talks with insurance companies as potential partners and with the regulator. We partly assembled a team as well,” Excited about the future of insurance industry Peterman stated, “The insurance platform that introduces social proofing can truly act as a universal solution disrupting the existing $7 trillion insurance market and at the same time, entering into many new segments. I am convinced that we will achieve our business goals in planned time and thus become the leading global provider in this field,” The company will use the funds for the technological development of the platform, as a prime priority, and then for patenting process, acquisition of regulatory permits, expansion of operations and human resources and strategic business alliances. InsurePal is on the Right Track with Blockchain Experts on Board Insurance industry represents a big challenge in terms of regulations, especially for a new company with a crypto offering as it comes across a lot of regulatory and legal approvals along the road. The Insurepal team is happy to place the platform in the market at the right time, in accordance with its roadmap comprising of target regions of UK, Europe, and the U.S. InsurePal has already acquired well-known crypto advisors and globally recognized experts for the platform’s development. Charlie Shrem, a Bitcoin pioneer who established Crypto IQ, is also part of the InsurePal team that has a disruptive potential to put forward a widely-applicable and upgraded alternative to the existing insurance system. Talking about the opportunities InsurePal is expected to bring in crypto economies, Shrem says, “InsurePal`s greatest asset is its team and idea. I am super excited to watch the team execute the platform. I always ask myself before getting involved: “Would I use this product?” With InsurePal, the answer is definitely yes”. InsurePal Gains Industry-wide Appreciation The InsurePal team is gaining an industry-wide appreciation for a successful crowdsale. Vinay Gupta, the Co-Founder of Mattereum, congratulated the InsurePal team and said, “I am very happy to hear about how successful the InsurePal fundraising efforts have been. We at Mattereum are looking forward to working with them closely in 2018 on a range of projects, including some close integration between insurance and arbitration.” InsurePal and Mattereum are already in a partnership for disrupted insurance and dispute resolution support that will help the user-managed crypto economy grow. To know more about the platform, please visit https://insurepal.io/ or visit InsurePal Official Facebook page, Twitter Account & Telegram group. The post InsurePal Token Sale Hits Target in Under 80 Seconds appeared first on NewsBTC.
Japans Most Promising Social Commerce Platform Release- The Security of Blockchain, the Sophistication of...
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned The post Japans Most Promising Social Commerce Platform Release- The Security of Blockchain, the Sophistication of AI and User Rewards in Crypto! appeared first on CCN