The CoinGeek Pulse is ending the year with these top stories of the week. Argyle Coin founder, Jose Angel Aman is facing seven years jail time over fraud charges. He will also have to pay up to $23 million in victim restitution.
According to the U.S. Department of Justice, Aman solicited investors in Canada and the United States to invest in diamond contracts. He and his partners told investors their money was to be used to buy rough diamonds, cut and resell them at a profit. However, this was not the case. They used the funds to pay off existing investors in a Ponzi scheme mode.
Aman then set up Argyle Coin LLC, a company he claimed was developing a diamond-backed token. He used a small portion of the funds to develop the digital token, while the rest of the money was used to pay off existing investors. Aman, a Washington D.C. native was charged by the DoJ in September with wire fraud.
In other news, this time, from the European Commission. In a substantial move to implement blockchain tech across the European Union bloc, The European Commission has opened up bids for its new European Union blockchain pre-commercial procurement also known as the PCP.
The Commission’s PCP focuses on the development of a new blockchain solution that would service elements of EU legal frameworks. PCP is looking for suppliers who can provide research and development into a government blockchain system, and how the technology can be adapted to fit its requirements. At present, work on the platform is limited to use cases that can be best served by existing technologies. Contracts will be awarded to several suppliers based on the value for money offered by each service provider.
And here’s some good news. You can say goodbye to complicated infrastructure, transaction conflict, and wallet scaling limitations with HandCash’s Connect Developer SDK. These tools released by HandCash enables seamless nano payments anywhere. With Connect, payments over the internet are made frictionless and simple.
WELCOME TO THE AGE OF NANOPAYMENTS
Dec 14th, 2020 : 9AM CET pic.twitter.com/LdQ1Z7ON3R
— HandCash Connect (@HandCashConnect) December 14, 2020
By providing turnkey access to the Bitcoin network, developers may now seamlessly facilitate payments between both users and apps, with just a few lines of code. To get started with SDK, you can visit HandCash to register.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.