The refinery denies wrongdoing. The court ruling said Alain and Sylvain Goetz set up a fraudulent system in and for customers to sell gold anonymously to the Tony Goetz refinery in Antwerp for cash, creating the basis for black-market trade. The refinery registered gold traders as private customers and split large purchases to circumvent limits on cash transactions, and accepted metal taken by armed robbers in the Antwerp gold quarter, it said. The court fined the refinery 99, euros.
Both the jail terms and the fine were suspended, meaning they will not take effect unless the refinery or brothers re-offend. Sylvain Goetz runs the refinery and is the eldest son of its founder. It also said Alain Goetz was no longer connected with the company and it does not accept gold from Venezuela or Uganda. This means that people do not have to rely on or trust the central bank to keep track of the transactions.
The peer-to-peer blockchain technology can keep track of all the transactions without the fear of having them erased or lost. Furthermore, the blockchain, because of its open source nature, is more versatile and programmable than central banking ledgers.
Curing Cancer, Alzheimer's, Huntington's, preventing viruses, and designing next-level pharmaceuticals is awesome. What if we could put these together, to build a coin secured and run by crypto, mined with SHA, and supported by cancer-curing research? CureCoin has combined computational biology with secure blockchain technology What benefits does it provide? Curecoin can be earned with both. Folders use high-end GPUs and CPUs to fold proteins, earning a proportional amount of coins set-aside for their contributions.
Due to the nature of folding diverse, constantly changing, not easily predictable , GPUs and CPUs will both always be relevant, so an investment in consumer hardware isn't wasted. How is it different? While still having a secure blockchain, it supports, and thus is supported by, scientific research. While it isn't technically 'backed' by scientific research there's no central authority you can visit to trade coins for scientific research the coin has intrinsic value as both a currency and as a system of purchasing a tradeable representation of medical research.
The value imbued into each unit of the currency from the folding network it represents would add additional traction and inertia to the coin's trading value. As time goes on and the amount of folding done for the network increases, the amount of research that each coin represents grows. How does the network maintain balance? Since the daily total from network output from both mining and folding are locked at Vice-versa, an increase in folding power will likewise indirectly cause a delayed increase in the network security.
As the folding and hashing efforts grow, the currency becomes more scarce per capita, creating a general increasing trend of monetary value. Just like any other crypto, Curecoin is a currency, but in this case, one that has more adding to its value than cryptographic security. Is Curecoin limited to only protein-folding? As the network evolves, additional scientific computing projects can be easily added, in which case the folding reward would become a scientific-computation reward, and would be split fairly between various projects including CPU-only ones!
Rather than mining alt currencies with a in comparison to ASIC and FPGA equipment very inefficient hash-generator which uses large amounts of electricity, you can do protein folding which uses less electricity , earn great returns, contribute to a variety of great computational scientific research, and decrease the wear-and-tear on your precious hardware. While Governments and firms can see all our financial transactions which tells more about you than the websites you visit via KYC procedures, we cannot do the same.
Whatever one can do with fiat, the same can be done with Bitcoin too. Hawala network is massive in India and most of the money is laundered through this network with no trail at all. At least with Bitcoin, the transaction is recorded on to the Blockchain, which can never be deleted or modified. In such circumstances, the perpetrator is booked and tried.
The Government does not ban use of currencies or commodities. Kingsley Edwards , sees Bitcoin and Ethereum staying in the limelight for the years to come. One cryptocurrency might be good for buying everyday groceries and smaller goods like a train ticket or a cup of coffee.
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The court fined the refinery 99, euros. Both the jail terms and the fine were suspended, meaning they will not take effect unless the refinery or brothers re-offend. Sylvain Goetz runs the refinery and is the eldest son of its founder.
It also said Alain Goetz was no longer connected with the company and it does not accept gold from Venezuela or Uganda. Alain Goetz said he had resigned as a director and sold his shares around He also said he had stepped down from management and sold his shares in the Ugandan refinery. Around 25 customers of Tony Goetz were also found guilty by the court for participation in the system, with some given suspended jail sentences of up to nine months. At least 12 trains weekly will now depart from Hebei for Central Asia, including to the border with the region at Khorgos.
The report did not say how many would travel on to Tashkent. These trains are not just for facilitating Chinese exports. For most of Central Asia, China offers the closest port. Officials in Tashkent seem unruffled by one poor harvest. Over reportedly logged in. Uzbekistan is not alone in seeing China as the marketplace of the future. In a nod to the burgeoning competition with Uzbekistan for Chinese custom, he added that the ministry will help 50 more Kazakh companies register on Alibaba by the end of the year.
Sultanov assured journalists that only processed meat products would be exported to China and that domestic prices would not be affected. This article originally appeared on Eurasianet here. Register to read the bne monthly magazine for free:.
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By Niva Yau for Eurasianet November 6, China is not happy. The only potential hiccup with such increasingly cosy ties is unhappy Central Asians. Read in IntelliNews Pro. Get IntelliNews Pro. Related Content. Perspectives: Uzbekistan rising as Central Asian integration catalyst. No US move to rejoin Iran nuclear deal imminent, say Biden national security nominees.
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