News Update: 07/05/19

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         1. Microsoft launches Azure cloud services for AI and blockchain

        2. Bitfinex’s ‘so called Official Doc’ reveals Plans to Raise up to $1 Billion in IEO for Its Token LEO


1.Microsoft launches Azure cloud services for AI and blockchain

Renowned Software company Microsoft Corp recently announced  a series of new Azure services and developer technologies ahead of its Build conference next week that will make it easier for developers to create new AI, mixed reality, IoT and blockchain projects. The news was published  in official news  post  .


Microsoft azure


This new blockchain-as-a-service (BaaS) platform will supposedly empower users to construct blockchain applications upon a preconfigured network.  The company will help developers and data scientists apply AI to any solution through Azure Cognitive Services which can give applications the ability to see, hear, respond, translate, reason and more. Microsoft is also launching a new Cognitive Services category, called Decision, that delivers specific recommendations to users for more informed and efficient decision-making.


 Scott Guthrie, executive vice president said,”

“It’s a fantastic time to be a developer. From building AI and mixed reality into apps to utilizing blockchain for  taking care of business issues, developers’ skill sets and impact are developing quickly,”


Microsoft Cloud and AI Group.

“Today we’re conveying innovative Azure services for developers to build the next generation of apps. With 95% of Fortune 500 customers running on Azure, these innovations can have far-reaching impact.”


New advancements in Azure Machine Learning simplify the process of building, training and conveying AI models:


     1.MLOps capabilities  

    2.Automated ML advancements 

    3.Visual AI interface 


Majority which is an open source blockchain platform backed by JPMorgan Chase is the first platform which can be overseen by the Azure Blockchain Service


Remarkably, Microsoft Azure released its blockchain app creation service dubbed Azure Blockchain Workbench back in May 2018. This platform was also designed with automation in mind. For this situation  to streamline blockchain app development by providing a platform with easily available infrastructure for developers.


2.Bitfinex’s ‘So called Official Doc’ reveals Plans to Raise up to $1 Billion in IEO for Its Token LEO

Zhao Dong, a investor of Crypto and OTC trader has tweeted with a supposedly marketing material / draft of whitepaper for an IEO which is supposed to be done by Bitfinex for new roken Leo. Amount expected to be raised by it is around $1 billion.  The information was shared in a tweet from Dong on May 4.


As indicated by  Zhao Dong, Bitfinex has already raised $600 million in private, verbal commitments. Since last week, it has been rumored that Bitfinex would fund-raise via an IEO, a red-hot fundraising mechanism that allows crypto firms to sell tokens on an exchange to raise money.


The marketing document promises that LEO token holders will enjoy reduced crypto to crypto trading fees on Bitfinex and the company’s decentralized exchange EOS finex.




According to the white paper details, the firm says it is issuing the exchange tokens to cover the $850 million right now frozen in several accounts controlled by the payment processing company Crypto Capital.


In documents described as “information from the white paper,” Bitfinex says it is “actively collaborating with the legal investigation and applying to unfreeze these funds through legal procedures.” The company is “confident that it will retrieve these funds,” according to the white paper details.


95% of the unfrozen funds will be used to redeem and consume the LEO in an equivalent amount. Zhao Dong said that even if the seized money cannot be retrieved, according to the projections from Bitfinex’s profits in 2017 and 2018, the company should be able to buy back all of the tokens within 4 years.


Like other exchange tokens, such as Binance’s BNB, LEO will also offer discounts on trading fees. In addition, LEO holders will have access to a 15% discount of taker fees for crypto-to-crypto trading, discounted lending rate, and discounted withdrawal fees.

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