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Blockchain Innovators Post-Pandemic, Co-Founder Revealed

The Co-founder of blockchain fintech firm Nash, Fabio Canesin, thinks that as the world comes out of the coronavirus outbreak, blockchain technology gives a unique opportunity to the public because of its boundless capabilities.

In an interview, Canesin revealed that he sees the most significant emerging utilization in blockchain in three core industries in a post-pandemic era. These are the government, non-profit, and small-to-mid-size businesses.

Nash’s co-founder, with regards to the government entities, said, “This could mean using blockchain for stimulus checks instead of sending payments via traditional systems.”

These measures eat up more time and are prone to errors. However, while using blockchain to accelerate the process, the current system might start letting individual accounts directly onto the network. They also don’t need any intermediaries.

After that, for the non-profit sector, Canesin explained that donations might run similarly to how stimulus payments work with blockchain. In addition to that, giving directly to organizations is a highly effective way to enhance the outcome of donations. Direct contributions to individual digital wallets might be disruptive for philanthropy.

The co-founder gave his thoughts on what the blockchain might mean to small and medium businesses. He said that blockchain means being able to hire overseas. This is due to the fact that the technology can work over borders and offers global payments. Aside from that, it also gives everyone access to the worldwide economy. The same applies regardless of the fact that are a small or large company.

 

Centra Tech ICO Scam

One of the co-founders of cryptocurrency firm Centra Tech, Sohrab Sharma, is reportedly planning to plead guilty. The firm is facing charges linked to a $25 million initial coin offering scam.

Based on a report from Bloomberg on July 13, Sharma could prevent a November trial date as his lawyer told a federal judge that he would be interested in altering his plea.

The recent announcement happened following the conviction of Sharma’s associate Robert Farkas. He allegedly conspired to commit securities and wire fraud on June 16. Currently, he faces up to 87 months in prison and a $250,000 fine.

Moreover, the U.S. Department of Justice (DOJ) said they arrested Sharma, Farkas, and Raymond Trapani back in 2018.

The three allegedly lied to investors about having a fictitious Chief Executive Officer (CEO) at Centra Tech named Michael Edwards. They then said that they have a money transmitter license in 38 states. The firm made false claims regarding partnerships with major firms such as Visa.

The charges received from the DOJ allege that the trio’s goal from these deceptions was to deceive people into investing in Centra Tech’s initial coin offering (ICO) of Centra tokens – the CTR tokens.

Furthermore, when they held the ICO between July and October 2017, celebrities, like former pro boxer Floyd Mayweather and music producer DJ Khaled, backed it.

The Securities and Exchange Commission (SEC) subsequently charged the two of them for unlawfully promoting the ICO and failing to disclose payments they got from Centra Tech to their followers.

Now, the case involving the third co-founder in this enterprise, Trapani, has a scheduled trial this coming November.

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