PRESS RELEASE. Redshaw Advisors will support XELS mission of increasing participation in carbon markets in Japan and beyond.
Tokyo, Japan — XELS, a revolutionary blockchain-based carbon offset platform has announced that it has joined forces with renowned carbon brokerage and risk management firm Redshaw Advisors. Under the collaboration, Redshaw Advisors will provide strategic advisory, consulting, and procurement of carbon credits for XELS.
Immutable Carbon Offsets
Initially focused on the voluntary carbon credit segment, XELS launched its blockchain platform and eponymous digital asset earlier this month. The startup’s tokenized offset credits, which exist on an immutable public ledger, are designed to boost both transparency and participation in carbon markets.
Unlike traditional carbon credits, XELS cannot be modified or double spent, and the process of “burning” used tokens ensures the credit is retired forever. Anyone with access to a computer and an internet connection (from eco-conscious individuals to corporations who are serious about tackling climate change) can buy and trade XELS.
XELS and Redshaw LTD
By working with Redshaw Advisors, XELS will be able to ensure the legitimacy of each credit it tokenizes, while also providing an additional record of the credit’s retirement in the Redshaw Advisors’ registry account. Upon retirement, Redshaw Advisors will also issue certificates that XELS’ clients can use to show the exact amount of CO2 they’ve neutralized.
Bill Goldie, Head of Voluntary Market at Redshaw Advisors, stated that:
“Redshaw are delighted to have been given the opportunity to advise, consult, and procure for XELS across carbon markets – compliance and voluntary – and renewable energy,”
Regulated “Compliance” Credits
In the future, XELS seeks to offer regulated “compliance” credits in addition to voluntary offset credits. The startup is in advanced discussions with a number of Japanese corporations that wish to significantly curtail their environmental impact, in line with Prime Minister Yoshihide Suga’s goal of reaching net zero domestic emissions by 2050.
XELS founder and CEO Takeshi Nojima explains the two companies progression towards fighting global warming:
“In many ways, Japan is playing catch up with the rest of the world, and the European Union in particular,”.
Takeshi stated that XELS will become the easiest, most transparent way for businesses to join the fight against global warming, and that the company will be able to provide clear proof of their commitment – backed by Redshaw Advisors. He added that this is something consumers appreciate, and will eventually come to expect from the companies that they support.
XELS Limited was founded in 2017, with offices in Tokyo and Hong Kong, and is a member of the Climate Chain Coalition. XELS tokens can be obtained on the Bittrex Global and MXC cryptocurrency exchanges.
Redshaw Advisors, founded in 2014, with a long track record of success in the European carbon markets, has a growing presence in voluntary markets. Among numerous industry accolades, Redshaw Advisors was named Best Trading Company and Best Advisory/Consultancy for EU ETS credits, Voluntary Carbon Market, and Renewable Energy Certificates in 2020.
Businesses in the green tech space interested in collaborating with XELS can contact email@example.com.
Media Contact Details
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Contact Email: firstname.lastname@example.org
Learn more about XELS — https://www.xels.io/
Learn more about Redshaw Advisors LTD — https://redshawadvisors.com/
Buy XELS on Bittrex Global — https://global.bittrex.com/
Follow XELS on Twitter — https://twitter.com/xels_PR
Join the XELS community on Telegram — https://t.me/xelscoin
Find XELS on Facebook —- https://www.facebook.com/XELS-COIN-1867938109912219/
XELS is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud – Bitcoin News
Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors.
Masterminds Could Have Defrauded Over 40,000 People
According to Yonhap, police obtained a court order to conduct searches into 22 properties connected with the crypto firm, including its headquarters based in the financial district of Gangnam in Seoul.
Although local media outlets refused to disclose the identity of the crypto exchange raided by the police in the first instance, social media users started to make their bets on V Global possibly being involved in the saga. In fact, Hanguk Kyungjae confirmed the news on Wednesday.
Investigators involved in the case believe that the company’s CEO identified by the media as “Lee” could have been allegedly “selling cryptocurrency using multi-level marketing methods.”
That said, a court in Seoul ordered to freeze assets belonging to the company worth $214 million as of press time.
As typical in MLM fraudulent schemes, authorities said the operation posed as a parent company of known domestic crypto exchanges like Upbit, with the premising of guaranteeing high-yield incomes for those who invest into their bogus trading platform.
SBS reports that CEO and his accomplices are accused of defrauding over 40,000 members from August 2020.
MLM Projects Heavily Regulated in South Korea
Currently, the V Global website in its desktop version shows a technical error message, saying that it could take “about 4 hours” to fix the inconveniences. However, that message has been online for over a day. However, its mobile website points out that an error in the transaction systems has been spotted “and is under investigation.”
South Korea has a strict policy regulating multi-level marketing projects in the nation, and they’re paying special attention to bogus crypto-related bogus MLM schemes.
Under the law, companies who use such techniques to promote products must abide by the Act of Door-to-Door Sales and should be registered with the Fair Trade Commission.
What are your thoughts on the latest crackdown of a crypto-related MLM alleged fraud in South Korea? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Early Bitcoin bull market buyers are hodling strong, but short term trading increasing
Bitcoin buyers from the early phases of the bull run are still hodling despite BTC’s meteoric surge into new all-time highs, according to data shared by Glassnode.
The on-chain analytics provider shared its “Realized Cap HODL Waves” chart, noting that the number of coins that were last realized on-chain in the past six months has nearly doubled from roughly 40% to 80% since the third quarter of 2020 — showing that much of the BTC purchased during this period has not been touched since.
HODL Waves are used to estimate the time since BTC coins last moved on-chain, while the realized price is derived from the price the coins were last moved at, rather than the current price. As such, the colored bands shown in the Realized Cap HODL Waves chart increase in thickness “as coins mature or are spent into different age bands.”
The data evidences that a large number of BTC purchased during 2020’s later months have not since been traded, with the chart showing coins progressively maturing from the fourth-quarter 2020 onwards.
#Bitcoin supply accumulated in the early phase of this bull market is beginning to mature.
HODLed $BTC are seen in Realized HODL Waves as the thickness of older age bands swell over time
Read More in The Week On-chainhttps://t.co/0aSkAgiUoE
— glassnode (@glassnode) May 4, 2021
Analyzing the chart in its May 3 Weekly On-chain report, Glassnode stated: “These are coins accumulated in the early bull market that have remained dormant since.”
However, the chart also shows that the share of Bitcoin’s supply represented by coins last active between six months and three years ago has plummeted since mid-2020, dropping from more than 55% in July 2020 to around 10% now. This means long-term investors have been capitalizing on Bitcoin’s all-time highs and realizing profits on multi-year positions.
Short-term speculation also appears to have surged since November, peaking with roughly half of Bitcoin’s supply having been realized in the past three months. This suggests short term traders are driving the markets.
Much DAO: Open DeFi unveils DAO to support the entire ecosystem
Decentralized finance alliance, Open DeFi, has announced it will create a decentralized autonomous organization, or DAO, to support its vision for an open and global cross-chain DeFi ecosystem.
The alliance launched in late 2020 with the goal of bringing together Western and Eastern DeFi projects and has since seen some of the sector’s top projects join its ranks including as Aave, Synthetix and Balancer.
The responsibilities of the Open DeFi DAO, or OD DAO, will include launching DeFi products across multiple layer-one networks, and exploring multi-chain applications for emerging decentralized assets, including data tokens and nonfungible tokens.
The DAO will also incubate early-stage protocols and infrastructure, and seek to “generate long-term value through community-based strategies.” Open DeFi’s Marek Laskowski stated:
“The goal of Open DAO is to develop a truly integrated multi-chain DeFi ecosystem that will open up liquid markets and establish a new operating system for finance. With the support of our members and our community of more than 10,000 DeFi developers and strategists worldwide, we look forward to accelerating the next generation of DeFi.”
The DAO will be community governed through a governance token, with an announcement emphasizing that “anyone can join” the permissionless organization.
To celebrate the new DAO and support DeFi decentralized finance development, Open DAO and Gitcoin launched a hackathon on May 3. The event has been sponsored by more than 20 major DeFi projects including Uniswap and Polygon, with more than $100,000 in prizes to be awarded to the hackathon’s winners.
Open DeFi was launched by blockchain startup Conflux Network in September 2020 with support from the Chinese central government’s Shanghai and Technology Committee, describing its mission as bridging the Eastern and Western decentralized finance markets. By November, the alliance had doubled its membership to span 16 firms, including four of the 20-largest DeFi protocols by total value locked.
In addition to several decentralized finance heavyweights, Open DeFi’s membership currently includes notable actors within the broader crypto sector including fundraising platform Gitcoin and venture capital firm Sequoia Capital.
Decentralized autonomous organizations have seen tremendous growth over the past six months, with the combined assets under management, or AUM, of the DAO ecosystem increasing more than 600% from $140 million as of Nov. 5, 2020, to roughly $1 billion today, according to data provider, DeepDAO.
DeepDAO currently tracks 108 different DAOs, of which 24 hold more than $1 million in assets, and 17 comprise more than 100 members.
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