www.dig1coin.se

OneLife Network News

Regulating cryptocurrencies - what do we need to know?

New technology has dramatically transformed the global economy in the past decade, especially in the way we exchange goods, services and assets. The whole idea behind development of monies and payments systems is based on making exchanges more efficient and secure.

Now, virtual currencies transform the global economy by questioning the paradigm of state-supported fiat currencies and the dominant role of central banks and conventional financial institutions by offering better financial efficiency, significant cost and time transaction reductions. However, along with their obvious benefits, the unregulated virtual currencies pose risks of misuse.

Several events from the last two years led to the adoption of an "Action Plan to Strengthen the Fight against Terrorist Financing". This plan proposes a set of strict rules on cryptocurrency regulation within an expanded framework of EU’s anti-money laundering (AML) directive. The endorsement of the plan was announced by the Commission as an instrument for tackling money laundering, terrorist financing, and increasing the transparency of payment networks and companies: “The changes proposed plan to tackle new means of terrorist financing, such as prepaid cards and virtual currencies.”

READ MORE: "Action Plan to Strengthen the Fight against Terrorist Financing"

The providers will be obliged to monitor transactions and users the same way banks do, including disrupting all sources of revenue that might be used to finance terrorist organizations.

The Commission is also bringing virtual currency exchange platforms under the scope of the Anti-Money Laundering Directive, so that these platforms have to apply customer due diligence controls, ending the “anonymity associated with such exchanges.” AMLD directive is the first action to enforce the plan, adopted by the Commission, and is considered to be effective in Luxembourg by 26 June 2017 at the latest.

Under the AMLD, once a country is listed as having strategic deficiencies in the area of money-laundering or countering terrorist financing, EU obliged entities will already have to increase the degree and nature of monitoring of financial transactions (i.e. apply enhanced due diligence measures) with economic operators coming from that country.

READ MORE: Communication from the commission to the european parliament and the council

The concerns and the events that led to taking these measures are generally addressed to the open source cryptocurrencies, which allow anonymous transactions. Being a centralized reserve cryptocurrency, OneCoin already complies with all the new regulations, preventing individuals from engaging in criminal and unwanted behaviour. OneCoin monitors its clients and implements rules aligned with the legal development. For example, to prevent money laundering, identity theft, financial fraud and terrorist financing, OneCoin has implemented KYC (know-your-customer) information, thus preventing any possible misconduct by its users. Alongside with KYC, OneCoin has implemented CDD (Customer Due Diligence), which is one more act of performing background checks on the customer to ensure that they are properly risk assessed before being on-boarded.

In a report from the International Monetary Fund (IMF) about virtual currencies and their impact, it is stated that without a doubt there should be regulations, but “national authorities will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation”; that policymakers have to find the balance between addressing the risks and vulnerabilities posed by virtual currencies while triggering innovation.


ONELIFE NETWORK Official Statement

ONELIFE NETWORK OFFICIAL STATEMENTDear OneLife Members,

In light of recent rumors and in order to ensure we maintain the transparency and high standards we have toward our global family, the OneLife Team has found it necessary to issue the following statement concerning the company development and operational strategy.

This statement comes following an increasing and active interest over the last couple of weeks concerning the opening of the US market for registrations and operation. Despite its potential, we would like to reiterate the fact that our company is not planning to enter the US market and registrations from there are still not allowed. True to our cause to empower, educate and unite, our current focus is set primarily on expansion in the emerging economies such as China, greater Asia, India and Latin America.

Another implication that has been causing confusion within our global family are our affiliations with other brands and companies. Over the last weeks, we have received numerous questions about connections between our network and other companies promoting cryptocurrencies. Such allegations are untrue and we would like to make it known that currently the OneLife Network and OneCoin do not partner with other companies or in that relation recommend any other cryptocurrencies.

We make every possible effort into distributing all current and relevant information within the Network when such cases arise and continuously develop and improve our communication tools, so all our Members receive the same information. It is of essential importance for our corporate team that our members stay informed and up-to-date with all the latest developments. We strongly encourage our members to conduct their own due diligence and act with attentiveness and consideration, preserving and promoting a safe environment of trust and stability for our rapidly growing family.

We are sincerely grateful for all your incredible efforts and strive to provide you with more opportunities every day!

Sincerely,
The OneLife Corporate Team


Happy Chinese New Year!

HAPPY CHINESE NEW YEAR!The start of the lunar year is drawing closer, and millions across the world are preparing to celebrate Chinese New Year. This January marks the beginning of the Year of the Rooster, according to the Chinese zodiac.

The Rooster is the tenth in the 12-year cycle of Chinese zodiac sign and is considered the epitome of fidelity and punctuality. People born in the year of the Rooster are very observant, hard-working, resourceful, courageous, talented and very confident in themselves. Roosters are happiest when they are surrounded by others, enjoying the spotlight and showing their charming personality on any occasion. They are also highly motivated, making their careers a priority. They are hard working, multi-talented, and can deal with a variety of jobs.

Traditionally, on New Year's eve, families gather and exchange gifts. Every year celebrations begin on January 27th, New Year's Eve, and last for around two weeks, making it the longest Chinese holiday. On New Year's Day, people clean their houses. It is believed that by doing so they are sweeping away bad-fortune. Red envelopes stuffed with "lucky money" are given to children, along with written wishes for their kids to grow up healthy.However Chinese New Year has also been touched by the digital age, with red envelope apps, where people can exchange digital money, being launched. People also decorate their houses with red paper cutouts, banners and special New Year paintings during the festive period. This year is also likely to see Rooster themed decorations.

Over the years the Chinese have created an amazing atmosphere, hoping each coming year will bring even more prosperity, luck and happiness! Chinese New Year celebrations start on the 23rd day of the12th lunar month of the Chinese calendar. Chunjie (春节), translated as Spring Festival speaks for itself what is the background of this holiday. Back in time Chinese society was mainly agricultural, and according to China's traditional solar calendar, the first Chinese month is called “start of Spring”. During the Spring Festival, the Chinese traditionally celebrate the start of a new year of farm work and wish for a good harvest. This has now evolved to celebrating the start of a new business year, wishing for profits and success.

An ancient legend tells the story of a monster called “Nian”(年- year). On the eve of every New Year it comes out to eat children and livestock. According to the legend the monster is afraid of red color and loud sounds. Therefore, people began to decorate their houses in red and set off firecrackers to scare it off.

Today every street, building and house, where Chinese new year is celebrated, is decorated in red. Red lanterns hang in the streets. Vertical red stripes (or “duilian”), placed parallel to one another on each side of a door, is one of the symbols that Chinese New year can't go without. Poetic and traditional Chinese sayings are written on them, representing the wishes and expectations that Chinese people have for the new year. Banks and official buildings are all decorated in red New Year pictures depicting images of prosperity and fortune. That's right, red is the main color for the festival and is believed to be an auspicious color.

But beside all the symbols, what do Chinese people actually do to welcome the New Year? A family reunion. The most important part of the festival. It's not a coincidence that at this time of the year some 3 billion trips by public transport in China are made, and 10% of the population in Beijing in Shanghai leaves the cities. Because first of all, Chinese New Year is a time for families to be together. Wherever they are, people come home to celebrate the festival with their relatives.
The New Year's eve dinner is called “reunion dinner”, and is believed to be the most important meal of the year. Big families of several generations sit around round tables and enjoy the food and time together. Similarly to Christmas, people exchange gifts during the Spring Festival. The most common gifts are red envelopes. Red envelopes have money in, and are used with the hope of bringing good luck, blessing and happiness.

This is how the Chinese start each year – expecting only the best each coming year may offer them. The perfect new beginning! Happy New Year of the Rooster, dear Chinese members and friends! The OneLife Network wishes you lots of happiness, best of luck, success and prosperity!


A blockchain pilot for proxy voting tested successfully in Estonia this week

Nasdaq Inc has successfully completed a test using blockchain technology to run proxy voting on its Estonian exchange and is now assessing whether to implement the new system, the company said on Monday this week.

The global exchange and clearing house operator reported that the tested technology allows investors who own shares in companies listed on the Tallinn Stock Exchange, the country's only regulated secondary securities market, to vote online during investor meetings or transfer their voting rights to a proxy.

The main reason for the US-based exchange operator to begin testing the e-voting platform at its Estonian subsidiary is the assumption that implementing this technology will boost participation in Annual General Meetings (AGMs).

It used smart contract technology to deploy the voting functionality while piggy-backing off Estonia's e-Residency platform to identify shareholders and then record votes on its private blockchain. The e-Residency platform is basically a digital authentication service used by both Estonian residents and those with business interests in the country to access government services.

According to Nasdaq the Estonian pilot has proved to be a success, offering investors the ability to view information about meetings and then vote before or during them. Users can also transfer their voting rights to proxies and monitor how the proxies vote on their behalf. Banks see definite opportunities for simplifying financial processes as well as minimizing their costs.

At the same time, custodians can vote on behalf of their clients or distribute voting rights to beneficial owners via file upload. Ownership information, vote and voting right token transfers are recorded to the blockchain ledger. Using that technology, Nasdaqs’ proxy voting experiment was aimed at streamlining a process which is currently highly manual and time-consuming.

Further, industry experts believe that by leveraging blockchain technology, an enormous potential for greater efficiency and integrity in Annual Meeting and shareholder voting process is identified - a step toward using the blockchain technology for the capital markets.

The blockchain is a distributed and permanent record of transactions, like a database, maintained by a network of devices opened to everyone on the internet. Anything of value can be moved and stored on the blockchain and therefore it creates a shared "golden record" of data. Therefore trust is established not thankfully to intermediaries like banks but regardless of them. Cryptography of data and mass collaboration are the foundation of trust on the blockchain. This is why the blockchain continue to be implemented in an increasing number of industries by corporations that understnd the long-term opportunities for cutting costs, simplifying processes, improving efficiency and security, generating insights, facilitating collaboration, tracking of transactions and interactions and more.


Over 3000 registered merchants with DealShaker – the e-commerce platform using OneCoins

The first e-commerce platform to use OneCoins (ONE), the DealShaker, was opened for merchant registrations on January 16, 2017. Today, a week later, with over 3000 registered merchants and more than 40 000 logged in visitors daily from around the world, the DealShaker is the first e-commerce platform offering global deals.

The purpose of DealShaker is to serve as a hub and an advertising platform, enabling customer-to-customer and business-to-customer deal promotions in price combinations of OneCoin cryptocurrency and cash. Merchants can sell their products at a discount or at full price. The only condition they should bear in mind is that they will receive at least 50% of the price of the offered product or service in ONE. Merchants can also accept the full coupon price in ONE by adjusting the slider to 100%

Being the exclusive cryptocurrency for deals on DealShaker, the rate of the coin will be fixed and determined by the current exchange rate of the ONE, modified with the change in the mining difficulty of the ONE cryptocurrency. Deals will also be promoted in Euro

By joining DealShaker, merchants become part of the OneLife Network and gain access not only to the OneLife's Network user base of 3 million people, but also present an opportunity for your business to advertise your product to a wider audience and make your product known worldwide

Joining the DealShaker is simple and easy. You can send each merchant a sponsor link or sign them up on the tree, so that they receive their OneLife credentials to be able to log in in to the DealShaker and insert their deals.

On DealShaker, merchants can promote and sell deal coupons that will serve as evidence for the promotional deal offer and will be sent to the client electronically once payment is received. The client then will be able to redeem the deal coupon with the merchant by presenting the deal coupon either on paper or electronic form.

As explained in the DealShaker T&C, since the merchant is the issuer of the deal coupons and seller of the offer, the company serves as the intermediary providing the e-commerce platform, and therefore is neither the seller nor the provider of the services and products promoted on the site. The merchants are therefore solely responsible for all matters related to the deals they offer and their interaction with the buyers.

Currently, the project is in its first phase - members of the OneLife Network can now log in with their OneLife credentials, register a merchant profile and register deals. DealShaker will launch its shopping section on February 16, 2017, when users will be able to start shopping with their coins.

The DealShaker e-commerce platform is an important part of the company's strategic development and therefore a valuable addition to the OneCoin Ecosystem, increasing both the usability and value of the coin.

As trust and transparency are the way we do business, KYC/KYB compliance also applies to all merchants registered with DealShaker, requiring that they provide information about themselves and their activities upon registration.


Important Compliance Announcement

Dear Members,

We would like to inform you that due to compliance reasons, as a precautionary measure, and with regard to the Company’s business and security standards the Company has enforced a new the policy that any Rookie account that has not been active within 14 days after login/acquisition will automatically become dormant/suspended.

Re-activation of those accounts will be possible upon request from the owner and submission (or secondary submission) of KYC documentation for identity verification. We would also like to reiterate that the Company will not tolerate any activity of accounts that is against our policies and this would lead to suspension of accounts until submission of proper documentation in compliance with our relevant procedures.

Please refer all your inquires on these matters to
legal@onelife.eu
compliance@onelife.eu

Best regards,
The OneLife Team


OneLife Network Implements Important Changes To AML/CFT Policies

As a company dedicated to adhering to Regulatory and Compliance Requirements, the OneLife Network strives to keep up with all the latest legal developments. It is one of the network’s core values to make sure all our dealings are transparent and professional, ensuring all Members can continue to conduct their business under the best possible conditions and maintain their trust in the OneLife concept.

That is why the OneLife Network recently implemented changes to its AML (Anti-Money Laundering) Policy, and is prepared to make additional amendments whenever such action is considered necessary. We would like to remind all OneLife Members that as part of the network they are legally required to strictly adhere to the OLN Terms & Conditions, IMA Agreement and all applicable Company policies. This aims to ensure that all Members comply with the requirements, among which are the anti-money laundering and combating the financing of terrorism (AML/CFT) rules.

AML/CFT activities generate financial flows that involve the diversion of resources away from economically- and socially-productive uses, and these diversions have negative impacts on the financial sector. They also have a corrosive and corrupting effect on society and the economic system as a whole. In order to avoid possible negative consequences of these forms of financial misuse, the OneLife Network has been very active regarding its AML/CFT compliance and has been heavily involved in assuring it meets the regulations.

One of the most significant steps the OLN has taken in that direction is the implementation of know-your-customer (KYC) procedures. The KYC policy is mandatory for all Members and includes identifying the member and verifying their identity through certified documents.

We remind all OneLife Members that any violation of the company’s Terms and Conditions or IMA Policy, including the Anti-Money Laundering Requirements will be sanctioned with immediate effect and the OLN will cooperate with all Regulatory institutions in order to address and resolve the issue.


Insurance Companies Set To Adopt Blockchain Tech Faster Than Expected

The finance industry has been dramatically changed by the blockchain technology since 2009. In September 2016 Reuters reported that according to IBM survey of 200 banks, 15% of top global banks plan to launch full-scale commercial blockchain products in 2017 and further, 65% of these banks are expected to develop blockchain projects within three years.

Read MoreBanks adopting blockchain 'dramatically faster' than expected: IBM

The most widely-spread and comprehensible definition of “blockchain” is an online database that can store anything of value – money, titles, music, intellectual property - in a secure and private manner. The Economist called the blockchain “The Trust Machine” because the “the technology behind bitcoin could transform how the economy works” (The Economist, October 31st, 2015, The Trust Machine)

Read MoreThe Trust Machine 

Harvard Business Review called the blockchain “...the first native digital medium of value, just as the internet was the first native digital medium for information. And this has big implications in business and the corporation” (HBR, May 10th, 2016, The Impact of the blockchain Goes Beyond Financial Services)

Read MoreThe Impact of the blockchain Goes Beyond Financial Services

However, the impact of the blockchain goes well beyond the finance services industry. Some of the biggest names in the insurance industry like Aegon, Allianz, Munich Re, Swiss Re and Zurich have launched the blockchain Insurance Industry Initiative B3i to explore the potential of distributed ledger technologies to better serve clients through faster, more convenient and secure services.

According to experts and insurance companies, the blockchain can contribute to a consistent, automatic contract execution environment, where transactions and contracts are stored on a shared ledger. In this manner the administrative workload of multiple stakeholders to ensure contract consistency and execution will be reduced.

According to McKinsey&Company's Report published in January, 2017: "In insurance blockchains have potential for impact accross the entire value chain". The research shows that blockchain solutions in the industry are expected to reach full potential in the next five years although investments in blockchain has already started to gain momentum.

Read MoreBlockchain Technology in the Insurance Sector

Although the implementation of blockchain technology in the industry is in its early days, one example which is already in the works, is a pilot project launched by Allianz - a smart contract solution aiming to automate catastrophe swap transactions with a significant reduction in placement time.

Insurance companies are very ambitious about applying the blockchain technology internally, so that paper or manual processes are eliminated. More importantly, it is expected that such development will benefit a cross-industry collaboration in the fight against fraud. Since the blockchain technology shows most of its potential only if it’s applied in a network of peers, insurance companies see a huge benefit for the industry in collaboration.

The blockchain Insurance Industry consortia B3i will allow insurers to get a better insight into the applicability of the blockchain technology in the insurance market and facilitate the transition from individual company use cases to viable solutions across the entire insurance value chain. According to McKinsey&Co's January 2017 report, B3i develop "Proofs of Cencept using distributed ledger solutions to replace some part of the traditional infrastructure to improve speed and reduce risk".


OneCoin Announces First Steps Toward Going Public!

As we said, January 15th marked a truly game-changing moment for both the OneLife Network and the OneCoin cryptocurrency. It is with great pride that we announce the FIRST STEPS ONECOIN IS TAKING TOWARD BEING PUBLICLY TRADED!  

The procedure every company has to go through in order to become listed on the stock exchange is long and complicated, so we are sharing the information 15 months in advance, so we can all prepare accordingly. It is official - OneCoin is going public in the second quarter of 2018, and we want the coin to be open to everyone willing to buy and sell OneCoins.

Our goal is to become the first fintech, cryptocurrency and e-commerce company to be listed on a stock exchange. That is why we have launched an Initial Public Offering to allow all our Members to become part of this historical event. The only way to be part of the IPO is to hold OneCoins. You will be able to exchange these OneCoins over the next months for so-called OFCs. An OFC is a Future Certificate that entitles you to receive shares in the company OneCoin.

To express our gratitude toward those of you who have been with us since the beginning, we are launching a SPECIAL PROMOTION, which will only run in the month of February. When you convert your OneCoins to OFCs you will receive DOUBLE THE AMOUNT OF OFCs! For more information check the backoffice, there will be a lot coming up in the next days, or watch the video below.

Please also note that www.xcoinx.com will be closed to prepare for the IPO. Until then you can exchange your coins for OFC - or spend coins on our newly launched e-commerce platform www.dealshaker.com.


Introducing The DealShaker Merchant Platform!

INTRODUCING THE DEALSHAKER MERCHANT PLATFORM!We announced 2017 would be exceptional for the OneLife Network and the exciting news keeps coming! We have been waiting for this day ever since we started! A long-awaited opportunity for everyone in the OneLife family! We are launching our new merchant platform - the DealShaker!

Over 2,8 million active users can now join this huge new e-commerce platform. The DealShaker is the thrilling result of the collaboration between OneLife and OneCoin. You can access the deal platform on www.dealshaker.com or www.dealshaker.eu with your regular OneLife credentials and you can start offering deals to the OneLife community. If you are a merchant, this is your big chance - 12 million people can see your deals and spend their OneCoins on them.

So how does the DealShaker work? Simple and easy! You can send a merchant a sponsor link or you sign him up on the tree, as you always do on the OneLife site, so that this person receives his OneLife credentials and he can go log in the DealShaker website, insert his deals and start selling his products or services.

And here is the huge advantage for all the merchants - you can sell your products at a discount, which will attract even more clients! You should only remember always to take at least 50 % of the price in OneCoins.

DealShaker is also much cheaper than other e-commerce platforms. Not only you can sell your product to a global community of millions, but you are also paying a much lower fee to the company for the sale, unlike other e-commerce platforms. We already began uploading new deals to the platform and on the 16th of February you will all be able to start spending OneCoins on the most exciting deals that you see.

For more information please contact our support department at support@onelife.eu or your upline.

Please note that the DealShaker merchant platform and the Mobile App Builder (MAB) are not directly connected to each other and represent different offers and parts of the One Ecosystem. The DealShaker is a platform, which allows merchants to offer their products to the Members of the OneLife Network, while the MAB lets users build their own Application, which is open to the public and aids in their personal business sales.


China Launches Major Investigation Against Anonymous Cryptocurrencies

Earlier this week the Chinese authorities launched investigations on anonymous cryptocurrency exchanges to look into possible market manipulation, money laundering, unauthorized financing and other issues, Reuters report.

Read More: Bitcoin slides after China central bank launches investigation

The move comes as Beijing's tries to crack down on money flowing out of the country illegally. The weakening yuan has prompted many people to try to buy foreign currencies. Some cryptocurrencies had marked excessive growth in demand in the first days of 2017 in China. The Chinese central bank also stated that the "spot checks were focused on how the exchanges implement policies including Forex management and anti-money laundering".

One of the most famous mainstream cryptocurrencies relies on web-based transactions handled across thousands of computers and is used as an anonymous way to move money globally. As a result, some speculate that people in China are using it to circumnavigate strict government rules aimed at preventing money from leaving the country. Currently, there's an annual maximum that people are legally allowed to change into a foreign currency.

This in turn shows yet another example of the negative effects caused by the anonymity behind mainstream cryptocurrencies – the opportunity for money laundering, terrorist financing and other criminal activity - an inherent issue, which OneCoin, as a centralized cryptocurrency storing user KYC (know-your-customer) documents on its blockchain, aims to counter.

Global business opportunities require a sophisticated international customer identification and verification solution, which OneCoin provides thanks to the KYC policy the company has adopted. The procedure identifies the user and verifies his or her identity by examining reliable and independent documents.

KYC documents are an important step, developed and required globally by financial institutions and banks that need to know and understand their customers better in order to help them manage the risks related to money transfers, especially in order to prevent identity theft, financial fraud, etc.

Furthermore, trust and transparency are among the core values of OneCoin, closely linked to the company's vision – to provide access to financial services to everyone, including the “unbanked” people around the world. Since most of the “unbanked” are poor people looking for a way to make fast transfers at a low cost, OneCoin has taken steps to guarantee the safety and security of these transfers in order to minimize risks.

As the founder of Microsoft Bill Gates commented during the Reddit AMA in January 2015, “Digital currency can help the poor but not bitcoin... We don't use bitcoin specifically for two reasons. One is that the poor shouldn't have a currency whose value goes up and down a lot compared to their local currency. Second is that if a mistake is made in who you pay then you need to be able to reverse it so anonymity wouldn't work...”

It remains to be seen how users will respond to the latest developments around the anonymous cryptocurrencies in China, but it is expected that more and more people will chose to turn to a safer and more secure option.

Google Översätt

 

Bloggkalender

«januari 2017»
tiontofr
01
02030405060708
09101112131415
16171819202122
23242526272829
3031

Arkiv
2019
2018
2017
  •    December
  •    November
  •    Oktober
  •    September
  •    Augusti
  •    Juli
  •    Juni
  •    Maj
  •    April
  •    Mars
  •    Februari
  •    Januari
  • 2016
    2015
    2014