Category Archives: blockchain

Objectopia Sales Center

The game Objectopia, is the first economic online game based on 100% use of crypto currency.

The idea of the game

In some ways this game is similar to the iconic Monopoly, but at the same time there are lots of differences.
The goal of the players is to capture and buy out each other’s objects on the map.

Here is how it’s happening. The first player (the cat Pompon) buys an object on the map for 0.05 LTC (all purchases are made in crypto-currency) — let’s say it’s a Dry Cleaners in Toronto (the object has its own real-life prototype: https://mapmess.com/marker/3427).

After payment of 0.05 LTC, the object immediately becomes the possession of Pompon. What this means and what the benefits are is described a little below.

According to the terms of the game, the Dry Cleaning facility is assigned to the owner for a certain period of time, for example, for one day (24 hours). During this time no one can repurchase the object. Its status changes to SOLD and the name of Pompon appears
on the title of the object description on the map.

After 24 hours, the object can be purchased by another player. After this period, the status of the object changes to FOR SALE, but the price has already increased: 0.1 LTC. Now, whoever captures this object first and pays 0.1 LTC for it, becomes the next owner of the object. Let’s say, the cat Trundel becomes the new owner since he has paid )0.1 LTC. Out of this money, the amount of 0.05 LTC is returned to the account of Pompon, while another part of paid amount which is 0.05 LTVare credited to the account of the gaming company. The object now is owned by Trundel.

However, exactly one day later the Dry Cleaners can be bought by the next player but so far for 0.15 LTC and so on. It means that with every purchase the previous owner of the object receives the full amount back and does not lose anything, whereas the new player pays a larger amount and owns the game object until the next player purchases it.

Benefits of owning Objectopia’s viertual objects.

1. While owning the virtual object, a player is entitled to free service or a substantial discount when being serviced at a real-life object (all virtual objects will have their real-life counterparts at the specified address). In particular, in our example the object Laundry, according to our agreement, offers the current owner free clothes cleaning once a week worth $30 CAD* (some conditions applied).

2. All current and former owners of the game objects become members of the MapMess Players Club and receive bonuses and discounts from all partners and sponsors of MapMess. They also participate in MapMess corporate events for free or at a substantial discount. In addition to that, their account on the MapMess website receives Premium status during the time of ownership of any game object.

3. The current owner of the object can place his banner or marketing/advertising text inside the object description or sell this advertising space at his discretion to anyone who wants it — this will be his separate business and the money will be directly transferred to his account
without MapMess serving as intermediary. MapMess, however, will provide for all those willing a convenient platform for communication with advertisers. Advertising in the object will be marked and promoted as an Object Sponsor.

4. The current owner of the object will be able to participate in the game process with other objects owners. This scenario is under development.

At what point the game ends?

The capture and buyout of a particular object ends when this object can no longer be bought. This moment comes when the value of an object reaches a certain level, for example 25 000 LTC (the price may be different for each object). When the price of an object exceeds a certain threshold, the object, most likely, will be owned by commercial companies or prominent entrepreneurs. For them, it will be both an element of prestige and investment medium. We are still keeping the lid on regarding this mechanism but it is closely connected with the crypto-currency market. We believe (and our expert consultants confirmed this) that a business will only benefit from buying such an expensive virtual object both in terms of PR and other aspects. During the game, more and more game objects will appear on the map, until their number reaches a certain, predetermined value, which is kept in secret so far.

The objects of the game can be:
 dry cleaners, coffee shops, restaurants, movie theatres, casinos, etc.;
 historical and cultural objects. In this case, the current owners will be entitled, as a bonus, to a free ticket to the prototype object, the cost of which will be paid by the sponsor. For example, the Eiffel Tower or the Trakai Castle;
 airports, train stations, parking lots, etc.;
 police stations, prisons, cemeteries, morgues (a joke !!!) and so on…

The game will finally end when no more game objects appear on the map, since their number will be initially limited to maintain a healthy excitement and not to devalue the game capital. The ultimate owners of virtual objects will own them forever and enjoy all the benefits of the current
owners of the objects, making up an elite club of MapMess friends and enjoying a whole lot of privileges.

Good luck!

HOW IS GRAFT REAL-TIME AUTHORIZATION (“INSTANT CONFIRMATION”) WITHIN A FEW SECONDS POSSIBLE WITH 2…

HOW IS GRAFT REAL-TIME AUTHORIZATION (“INSTANT CONFIRMATION”) WITHIN A FEW SECONDS POSSIBLE WITH 2 MINUTE BLOCK INTERVAL?

Unlike most crypto payment systems, and similar to traditional credit/debit card processing, Graft payment is divided into two phases: authorization and settlement. Like in credit/debit card world, Graft authorization happens in real time (hundreds milliseconds to a few seconds, depending on various conditions), while settlement is performed later on, usually within 2 minutes (compare to several hours and even days in traditional payment networks).

Although there are cryptocurrencies with block (settlement) interval less than 2 minutes, there is no specific reason to reduce it, especially with Graft built in “always on” real time authorization system. First, very short interval complicates the block generation and PoW process, as a lot of supernodes must communicate each other and agree on the new block, so with very short interval the network latency will start affecting the process. Second, reducing the interval still does not resolve the real-time authorization (“instant confirmation”) problem. Even with 30 seconds interval, it is still too long for real time payments (credit card authorizations are in a range of hundreds milliseconds to a few seconds), not to mention the fact that 1 confirmation (1 block) is still not enough to mitigate the risk of fork for significant amounts. So special additional technology is still required to resolve the real-time authorization problem. Graft resolves this problem by implementing a scheme called authorization sample, which is a group of supernodes that is selected by special Proof of Work/Proof of Stake algorithm from a larger pool of candidates.

The supernodes in authorization sample must match several criteria in order to prove their loyalty to the network:

Must be an active miner — solve at least one block within last 1440 blocksMust maintain a collateral (“stake”) deposit account with 1000 graftMust be “always on” (99% of the time within last 48 hours)Must have a public IP

The authorization sample supernodes validate the transaction and guarantee that the buyer cannot spend the same money more than once until the transaction is settled (added into the block which is written into the blockchain). The settlement is performed by the mining part of the supernode within 2 minutes.

Vlora Asset Management has Reserved 30 Million Tokens

Budapest, September 14. 2017 — Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 30M tokens offered in the upcoming token sale for Providence Crypto Casino & Resort — the first and only cryptocurrency casino & resort with a physical location.

ABOUT VLORA

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Vlora’s fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

ABOUT PROVIDENCE

Providence Crypto Casino & Resort has emerged as one of those companies with an excellent business plan in the emerging digital economy of cryptocurrencies and blockchains while backed by a highly skilled team and pioneer investors supporting the Providence Project. The whole resort will include a big casino, hotel, restaurants, and retail outlets. Project operations are being built upon innovative blockchain technologies with exchanges, hedging mechanisms for volatility protections and an online casino for a full enclosure of the industry.

Vlora is very excited to participate and support Providence in the early phases of operations and Providence is happy to have Vlora on board!

Vlora Asset Management has Reserved 30 Million Tokens

Budapest, September 14. 2017 — Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 30M tokens offered in the upcoming token sale for Providence Crypto Casino & Resort — the first and only cryptocurrency casino & resort with a physical location.

ABOUT VLORA

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Vlora’s fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

ABOUT PROVIDENCE

Providence Crypto Casino & Resort has emerged as one of those companies with an excellent business plan in the emerging digital economy of cryptocurrencies and blockchains while backed by a highly skilled team and pioneer investors supporting the Providence Project. The whole resort will include a big casino, hotel, restaurants, and retail outlets. Project operations are being built upon innovative blockchain technologies with exchanges, hedging mechanisms for volatility protections and an online casino for a full enclosure of the industry.

Vlora is very excited to participate and support Providence in the early phases of operations and Providence is happy to have Vlora on board!

Vlora Asset Management has Reserved 30 Million Tokens

Budapest, September 14. 2017 — Vlora Asset Management has participated in an OTC deal for institutional investors and reserved 30M tokens offered in the upcoming token sale for Providence Crypto Casino & Resort — the first and only cryptocurrency casino & resort with a physical location.

ABOUT VLORA

Vlora is an independent asset management company with a palette of strategies ranging from active and passive investments solutions with a focus on property management and real-estate investments. Vlora’s fundamental investment strategy relies on bottom-up analysis to identify high-quality companies at attractive prices.

ABOUT PROVIDENCE

Providence Crypto Casino & Resort has emerged as one of those companies with an excellent business plan in the emerging digital economy of cryptocurrencies and blockchains while backed by a highly skilled team and pioneer investors supporting the Providence Project. The whole resort will include a big casino, hotel, restaurants, and retail outlets. Project operations are being built upon innovative blockchain technologies with exchanges, hedging mechanisms for volatility protections and an online casino for a full enclosure of the industry.

Vlora is very excited to participate and support Providence in the early phases of operations and Providence is happy to have Vlora on board!

The China Effect on Blockchains and Cryptocurrencies Future

In the past 3 weeks, news that the Chinese government was cracking down on ICOs and forcing cryptocurrency exchanges to halt trading has sent the markets tanking.

Trading volumes on the cryptocurrency exchanges are down significantly, and the pull-back in activity is not just from the Chinese Yuan and exchanges, but across all currencies and global exchanges. (see the following 2 charts, from http://data.bitcoinity.org/)

We can analyse what we know and don’t know, and give some context to these developments.

First, let us be reminded that Chinese regulators and authorities decisions and policy statements are aimed at the Chinese market. They are not directives for the rest of the world to follow. China’s government scope is at the national level.

Second, the timing of this crackdown may be related to the upcoming 19th National Congress of the Communist Party of China (CPP), scheduled to start on Oct 18th 2017 in Beijing. That is one of the most important meetings in China’s political calendar, and it has been widely reported that the latest announcements are politically motivated muscle-flexing by the CPP.

We know the following:

  • Capital flight via cryptocurrency was real, and the Chinese authorities didn’t like that. It wasn’t clear to them where the billions of dollars in crypto gains were going, past the exchanges.
  • The KYC/AML practices of Chinese exchanges were not all up to par with the rest of the world. Previously, many exchanges didn’t require stringent KYC, until AML was strictly mandated by the People’s Bank of China in January 2017.
  • The ICOmania had reached another dimension in China with over zealous promoters and real scams that took place. Although the pace of ICOs has been strong outside of China, there were hundreds of ICOs inside the country that we didn’t even know about.

So it was expected that some kind of order was overdue. The political coincidence made the moons align more squarely for that perfect storm to take hold.

Despite this turmoil, the global fundamentals behind blockchain, cryptocurrency and ICOs are intact. As much as one would like to think that what China does doesn’t matter, the reality is that when China sneezes at crypto, the rest of the world catches the cold.

For one, Chinese partcipants represent 30–35% of many ICOs, so their absence has been felt, even if the ban doesn’t officially affect non-China ICOs. Some ICOs who had Chinese investors on their radar (via KYC pre-registrations or direct contacts), have experienced a downturn in money raised from that specific region.

Second, the share of Chinese exchanges on total cryptocurrency volumes used to be close to 45–50% before the ban, and now estimated to have dwindled to perhaps about 15%. Some Chinese users can still get away with trading by using VPNs and accessing external exchanges.

With all that backdrop, let us be reminded that China has also previously banned Facebook and Google, but those companies continued to thrive, while China promoted their own versions of these services (Weibo, RenRen, Baidu Tieba). Furthermore, China has its own Twitter (Weibo), YouTube (Youku Tudou), Yelp (Dianping), Tinder (Momo), Apple (Xiaomi), Uber (Didi Kuaidi), PayPal (Alipay), eBay (Taobao), and other home-grown social media giants like WeChat and Tencent QQ.

You get the idea? So, why not expect China to have their own cryptocurrency too, not based on Ethereum or Bitcoin, but based on their own currency, the Chinese Yuan?

That brings me to the next big rumor coming out of China, which is the possibility of issuing their own crypto Yuan. This shouldn’t come as a surprise given that reports that China’s Central Bank has been looking at the digital currency have been around for more than 1.5 years.

What remains unknown is if this current hiccup will affect the Chinese Bitcoin miners supremacy, which stands at about 80–85% of total market share. So far, miners have not been affected, but I am sure they are worried. Several questions arise:

  • Will the Chinese government require Bitcoin miners to go through the central switch and have their transactions flagged? That would certainly affect the competitive speeds required for transaction mining.
  • Will Chinese miners start to diversify their operations outside of China? One of China’s largest miners, Bitmain has already started activities and shown interest outside of China.
  • Will other countries or organizations jump on this opportunity and start to increase their Bitcoin mining capabilities? Some candidates include Russia, Iceland and Canada for countries, and why not the large multinational banks, Amazon or Google for that matter?

Going forward, my predictions on China are:

  1. China will update their regulation on crypto-exchanges and ICOs after the Party’s convention. Given the current mess, it was easier to wipe the slate clean, and start from that point forward with new rules.
  2. We will see a Crypto Yuan emerge, but with some peculiar parameters around its creation. It won’t be just like another free floating cryptocurrency, and it may not have all the properties of a cryptocurrency, but maybe only selective ones. Even with some restrictions, that move will be a boon for the crypto-markets, as it will serve to validate the future of cryptocurrencies.
  3. The Chinese share of Bitcoin mining will decrease. Some of the existing miners might be tempted to mine for the crypto Yuan, unless the government decides to monopolize (or not require) that function. Simultaneously, other parts of the world will pick-up some of the Bitcoin mining activity.

In summary, China wants control, and China will get control. That’s their default modus operandi. Crypto-Tech is no different than the Internet and Web businesses.

What happens in China doesn’t always stay in China anymore. We have not seen the last of that whale’s boat capsizing moves.

[Originally published on Startup Management]

The China Effect on Blockchains and Cryptocurrencies Future

In the past 3 weeks, news that the Chinese government was cracking down on ICOs and forcing cryptocurrency exchanges to halt trading has sent the markets tanking.

Trading volumes on the cryptocurrency exchanges are down significantly, and the pull-back in activity is not just from the Chinese Yuan and exchanges, but across all currencies and global exchanges. (see the following 2 charts, from http://data.bitcoinity.org/)

We can analyse what we know and don’t know, and give some context to these developments.

First, let us be reminded that Chinese regulators and authorities decisions and policy statements are aimed at the Chinese market. They are not directives for the rest of the world to follow. China’s government scope is at the national level.

Second, the timing of this crackdown may be related to the upcoming 19th National Congress of the Communist Party of China (CPP), scheduled to start on Oct 18th 2017 in Beijing. That is one of the most important meetings in China’s political calendar, and it has been widely reported that the latest announcements are politically motivated muscle-flexing by the CPP.

We know the following:

  • Capital flight via cryptocurrency was real, and the Chinese authorities didn’t like that. It wasn’t clear to them where the billions of dollars in crypto gains were going, past the exchanges.
  • The KYC/AML practices of Chinese exchanges were not all up to par with the rest of the world. Previously, many exchanges didn’t require stringent KYC, until AML was strictly mandated by the People’s Bank of China in January 2017.
  • The ICOmania had reached another dimension in China with over zealous promoters and real scams that took place. Although the pace of ICOs has been strong outside of China, there were hundreds of ICOs inside the country that we didn’t even know about.

So it was expected that some kind of order was overdue. The political coincidence made the moons align more squarely for that perfect storm to take hold.

Despite this turmoil, the global fundamentals behind blockchain, cryptocurrency and ICOs are intact. As much as one would like to think that what China does doesn’t matter, the reality is that when China sneezes at crypto, the rest of the world catches the cold.

For one, Chinese partcipants represent 30–35% of many ICOs, so their absence has been felt, even if the ban doesn’t officially affect non-China ICOs. Some ICOs who had Chinese investors on their radar (via KYC pre-registrations or direct contacts), have experienced a downturn in money raised from that specific region.

Second, the share of Chinese exchanges on total cryptocurrency volumes used to be close to 45–50% before the ban, and now estimated to have dwindled to perhaps about 15%. Some Chinese users can still get away with trading by using VPNs and accessing external exchanges.

With all that backdrop, let us be reminded that China has also previously banned Facebook and Google, but those companies continued to thrive, while China promoted their own versions of these services (Weibo, RenRen, Baidu Tieba). Furthermore, China has its own Twitter (Weibo), YouTube (Youku Tudou), Yelp (Dianping), Tinder (Momo), Apple (Xiaomi), Uber (Didi Kuaidi), PayPal (Alipay), eBay (Taobao), and other home-grown social media giants like WeChat and Tencent QQ.

You get the idea? So, why not expect China to have their own cryptocurrency too, not based on Ethereum or Bitcoin, but based on their own currency, the Chinese Yuan?

That brings me to the next big rumor coming out of China, which is the possibility of issuing their own crypto Yuan. This shouldn’t come as a surprise given that reports that China’s Central Bank has been looking at the digital currency have been around for more than 1.5 years.

What remains unknown is if this current hiccup will affect the Chinese Bitcoin miners supremacy, which stands at about 80–85% of total market share. So far, miners have not been affected, but I am sure they are worried. Several questions arise:

  • Will the Chinese government require Bitcoin miners to go through the central switch and have their transactions flagged? That would certainly affect the competitive speeds required for transaction mining.
  • Will Chinese miners start to diversify their operations outside of China? One of China’s largest miners, Bitmain has already started activities and shown interest outside of China.
  • Will other countries or organizations jump on this opportunity and start to increase their Bitcoin mining capabilities? Some candidates include Russia, Iceland and Canada for countries, and why not the large multinational banks, Amazon or Google for that matter?

Going forward, my predictions on China are:

  1. China will update their regulation on crypto-exchanges and ICOs after the Party’s convention. Given the current mess, it was easier to wipe the slate clean, and start from that point forward with new rules.
  2. We will see a Crypto Yuan emerge, but with some peculiar parameters around its creation. It won’t be just like another free floating cryptocurrency, and it may not have all the properties of a cryptocurrency, but maybe only selective ones. Even with some restrictions, that move will be a boon for the crypto-markets, as it will serve to validate the future of cryptocurrencies.
  3. The Chinese share of Bitcoin mining will decrease. Some of the existing miners might be tempted to mine for the crypto Yuan, unless the government decides to monopolize (or not require) that function. Simultaneously, other parts of the world will pick-up some of the Bitcoin mining activity.

In summary, China wants control, and China will get control. That’s their default modus operandi. Crypto-Tech is no different than the Internet and Web businesses.

What happens in China doesn’t always stay in China anymore. We have not seen the last of that whale’s boat capsizing moves.

[Originally published on Startup Management]

Best Exchange to Buy Large Quantities of Bitcoin

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There are many good exchanges with strong liquidity. Below there’s a list of trading platforms that could help you buy or sell a high amount of Bitcoin. Here’s what I found after some research:

  • BitStamp
  • Poloniex
  • Coinbase
  • GDAX

These exchanges have daily volume which exceeds thousands of Bitcoins and their fees are relatively low. But depending on what you consider a large quantity of money maybe a better choice would be so-called OTC exchanges (OTC = over the counter). OTC exchanges refer to companies or individual wiling to sell you Bitcoins directly and not through a regulated and automated trading platform.

OTC exchanges benefits

  • High liquidity — OTC companies specialize in supplying high volumes of Bitcoin for large buyers such as institutional investors. This means you will be able to get your order fulfilled in full faster than on a traditional exchange most of the time.
  • Fixed price — When you buy large amounts of Bitcoin on a public automated exchange you will probably see the price rise as your order is being executed. This is due to the fact that once you finish buying from the “cheap” sellers, you gradually move to the “expensive” sellers. This means you don’t have a fixed price for your purchase. When you use an OTC exchange you can negotiate a fixed price (e.g. “Bitstamp rate + 1%).

A few OTC exchanges:

  • Genesis
  • ItBit (for companies)
  • Richfund

You can also try buying smaller amounts (up to 50BTC) on multiple regular exchanges in order not to disturb the market. Buying or selling a lot of Bitcoins can have an impact on the market and drive the price up or down, depending on your transaction. So be careful when doing so.

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Best Exchange to Buy Large Quantities of Bitcoin was originally published in Krown on Medium, where people are continuing the conversation by highlighting and responding to this story.

Crystal-Clear services

How often are we, business people, busy making money, modern residents of megacities and small towns, in need of various kinds of services. Starting from all sorts of repairs, and finishing with household chores: cleaning, cooking, buying food, raising children. And in need of a service, we face a problem: where to turn,
To get a quality, inexpensive service, moreover in the shortest time. And then the search starts on friends-acquaintances or on waves of the Internet. And even finding specialists in the provision of various services, we never know what pitfalls we may encounter when executing an order.
And to call to account the performer for a poor-quality service in the general legal illiteracy of the population and an impossible task at all.

Crystal Clear Services brings a revolutionary future and the latest technologies from the online industry to offline services for the population, which everyone uses on a regular basis and inevitably faces serious problems of lack of organization and non-transparency of the existing system of services. Having more than 12 years of experience and already based on the existing system of providing services to the public, we know how to change this market and dramatically increase the quality and volume of services using the latest technologies: Blockchain, Solidity.Etherium,IPFS.

For example, the market volume of cleaning services to the population in Russia is more than 1,000,000,000 $ per year, and in the US its over 17,000,000,000 $ and the growth potential of these services is more than 20% per year.

Core features of Crystal Clear Services.
• Decentralized service system
The absence of a central controlling link allows the system to be self-regulated and be truly
opened for all participants
• Transparency of all transactions and prices
Each executed service is recorded in a non-editable Blockchain that everyone can view
• Real reputation, reviews and recommendations
Since it will be impossible to delete or correct reviews, they will show the real state of affairs for
each performer
• Open history of transactions and work performed
Each participant will be able to see what works, when and for what cost it was performed, which
will increase the trust between the participants of the system
• Popularization of Blockchain Technologies and Crypto-Currency
The use of our platform will provide an opportunity for everyone to plunge into the wonderful
new world of a decentralized system of crypto-currencies
• System of bonuses and awards
For particularly meaningful actions within the platform (writing feedback, recommendations,
participation in court, affiliate programs), participants will additionally receive rewards in the
form of the Crystal Clear Token (CCT)
• Escrow system and price fixing
Thanks to the integrated system of Escrow, the payment risks from both sides will disappear,
and realization of the court of 5 random and objective participants will allow to solve even the
emerging complex disagreements
• The minimum fee of all existing systems
The only 1% system fee will attract more participants and promote the platform worldwide
• Application of the court of 5 random participants of the system
In case of controversial situations, the platform randomly selects 5 holders of system tokens and
requests them, passing the description of the situation from both sides. The decision of the
majority is considered objective and accepted by the system.
• Instant payment for services with an integrated exchange system
and the possibility to pay by cash
Payment for the services performed can be recorded both in the fiat currencies (dollars, euros,
rubles, etc.) and in the crypt (CCT, Bitcoin, Litecoin, ETH). Cash payments offline will be recorded
in the system by receiving confirmation of payment from both sides.
• Binding of plastic cards in the system for instant withdrawal of
funds
By tying in any card, the performer will be able to instantly withdraw money received for services
from any ATM.
• Tips and gratuity
Internal instant share system will help easily give the master some tips for their work or to thanks
for the review or feedback
• The use of a decentralized IPFS (InetrPlanetary File System)
To minimize the load on the Blockchain system and accelerate the interactions, the main data
array will be hashed and stored in the IPFS system, and only the hash code needed to extract
them will be written to the Blockchain.
• Absence of middleman and the possibility of discussing services
with the final contractor before the order
The internal messaging system will allow you to instantly clarify any information from the
performer before placing an order, so that there is no misunderstanding during the acceptance
of services
• Integrated system of service auctions
Any participant in the system will be able to open an auction for the service he needs, and then
choose the performer by price or reviews
• Global Blacklist System
Blacklists will allow system participants to deal with unscrupulous customers and performers.
Information about them will be immediately available for all participants, warning about
possible fraud on their part.
• Geolocation and worldwide usability
The possibility of using the platform in all countries allows you to take advantage of the highest
quality and at the best prices on any local services markets.

Team Crystal Clear Services:

The founder of the project Crystal Clear Services — Alexander Veretennikov — a successful entrepreneur with 10 years of experience in organizing international start-up projects both on the Internet and in the real economy and bringing them to a high level of profitability. More than 4 years of experience working with crypto-currencies and investing in blockchain-technology.
Ivan Chirkov — more than 10 years of experience in web design and development of old-ap projects. The developer of Internet projects and mobile applications for large business areas in telecommunications, government agencies. 7 years experience with cloud technologies.

Andrey Perevozchikov — more than 20 years of development in the field of databases,
Participated in major government projects to create global accounting systems. More than 3 years engaged in blockchain-technology.

Ilya Znachko — more than 12 years of experience in website design, mobile applications and front-end development.

Rajip Umar — more than 7 years of experience in developing applications for all platforms, web design, cloud and Internet technologies, Based on the blockchain. In addition, a team experienced in the field of blockchain-technologies and development of start-up projects of advisers.

ICO — $ 5,000,000
The period of the ICO is one month: from 01.09.2017 12:00 UTC to 01.10.2017 12:00 UTC.
CCT Tokens will be sold with the following bonuses:
The first hour is 40%
The first day — 30%
First week — 25%
The second week — 20%
The third week — 15%
Fourth week 10%

The cost of one token is 0.01 ETH.
The initial release of CCT tokens is 10,000,000.
After the pre-ICO and the main stage of the ICO, the CCT tokens will be released into the free circulation of crypto-currencies on the exchanges, and the CCT tokens will be available on the market. Twelve months after the ICO,
On a monthly basis, the reverse repurchase of CCT tokens will be made at the expense of proceeds to maintain a stable rate of the CCT token.

Road map:

Contacts

WHITEPAPER- http://crystal-clear.io/Whitepaper_english.pdf

WEBSITE- http://crystal-clear.io

FACEBOOK- https://www.facebook.com/CCSer/

TWITTER- https://twitter.com/CCS_Crystal

TELEGRAM- https://t.me/CCS_ENG

SLACK- https://crystal-clear-s.slack.com

My profile:https://bitcointalk.org/index.php?action=profile;u=1165718

Inilah masa depan investasi

Platform perdagangan terdesentralisasi yang akan mengubah cara Anda berinvestasi dalam proyek ini.

Ada banyak yang salah dengan layanan manajemen kepercayaan tradisional. Investor memiliki sedikit kontrol atas uang mereka dan mekanisme distribusi keuntungan tersembunyi di dalam perhitungan pialang.

Manajer kepercayaan hanya bisa menjangkau investor di wilayah geografis yang terbatas dan kurangnya transparansi menciptakan hubungan yang tidak bersahabat antara investor, manajer dan pialang yang selanjutnya mempersulit sistem tersebut.

Evolusi Investasi

Meskipun lompatan progresif ke depan di bidang keuangan lainnya, instrumen manajemen kepercayaan tetap tidak berubah. Manajer kehilangan potensi peningkatan pendapatan dan pertumbuhan investor, sementara investor dipaksa membuat keputusan dengan data yang tidak akurat dan menangani serangkaian komplikasi yang tidak perlu.

Instrumen baru dibutuhkan untuk memenuhi tuntutan ruang berkembang ini di era digital.

Genesis Vision adalah langkah selanjutnya dalam evolusi itu. Ini adalah platform manajemen kepercayaan revolusioner dan terdesentralisasi yang didukung oleh blockchain.

Genesis Vision menyediakan sistem distribusi investasi dan keuntungan yang transparan dan otomatis bagi investor dan akses ke kumpulan investor global untuk pengelola uang.

Bukan hanya platform manajemen kepercayaan lainnya. Inilah beberapa hal yang membedakan Genesis Vision.

  • Perdagangan dalam mata uang kripto dan fiat diperbolehkan.
  • Platform ini dibangun berdasarkan kontrak cerdas Ethereum, keseluruhan proses investasi, distribusi keuntungan, konversi komisi dan mata uang sepenuhnya otomatis oleh blockchain, membuatnya benar-benar transparan.
  • Manajer ahli dapat terhubung dengan ribuan investor secara global, sehingga meningkatkan ukuran dana dan kolam investor mereka.
  • Manajer dapat menambahkan ribuan investor baru ke dana mereka dari manapun di dunia.
  • Investor dapat menggunakan data yang dapat diandalkan untuk berinvestasi dengan para ahli yang berbeda untuk mencapai tujuan yang diinginkan (seperti keuntungan jangka pendek atau keuntungan jangka panjang) berdasarkan strategi perdagangan pakar.
  • Berinvestasi itu mudah. Setiap manajer ahli mengeluarkan cryptocurrency (koin) mereka sendiri, yang nilainya didasarkan pada keberhasilan perdagangan mereka dan dapat dibeli dan dijual di bursa internal Kejadian Kejadian. Investasi itu sederhana seperti membeli koin manajer.
  • Investor memiliki kontrol yang lebih besar atas dana mereka dan dapat menjual koin manajer setiap saat.
  • Apakah saya menyebutkan keseluruhan proses itu transparan

Genesis Vision adalah sebuah meritokrasi sejati dimana investor maupun manajer tidak ditahan oleh komplikasi dan hambatan saat ini dalam perdagangan dan investasi.

Masalah dengan investasi aset tradisional

Jika Anda berinvestasi pada aset tradisional melalui layanan pengelolaan uang, Anda memiliki beberapa alasan untuk khawatir.

  • Kemungkinan besar Anda terikat dengan broker tunggal dan manajer pialang ini.
  • Pialang memiliki kemampuan teknis untuk mempengaruhi data dan sejarah perdagangan manajer mereka.
  • Mekanisme investasi, komisi dan distribusi keuntungan tersembunyi di dalam perhitungan mereka dan tidak terbuka untuk pengawasan publik (yaitu op

Kurangnya transparansi ini menciptakan ketidakpercayaan di pasar (memang seharusnya begitu) dan mungkin yang paling tidak berperasaan, menghambat investasi dari orang-orang biasa, membatasi partisipasi ke elit keuangan.

Demikian pula, jika Anda berinvestasi secara eksklusif dalam kripto dan ingin melakukan diversifikasi ke pasar tradisional, masalah di atas mungkin akan memberi Anda jeda.

Tanpa kemampuan untuk membuat keputusan mengenai keuangan dan investasi pribadi, investor (orang biasa) tidak akan pernah memiliki kebebasan finansial dan selamanya akan bergantung sepenuhnya pada para ahli yang disebut.

Solusinya

Dengan menciptakan pertukaran internal di mana masing-masing manajer ahli mengeluarkan kripto-nya sendiri, nilai yang ditentukan oleh tingkat keberhasilan perdagangan mereka, Genesis Vision membuatnya sehingga investor memiliki tingkat kontrol yang lebih tinggi sambil tetap menerima pengelolaan ahli dari uang mereka.

Proses investasi itu sederhana

  • Beli koin manajer di bursa internal.
  • Keuntungan dan komisi secara otomatis dibayarkan pada akhir periode pelaporan yang telah ditentukan.
  • Semua konversi mata uang ditangani secara otomatis oleh platform.
  • Investor dapat dengan mudah menjual koin manajer di bursa internal.

Metode investasi ini memiliki keuntungan utama dibandingkan platform investasi tradisional.

Investor tidak hanya menginvestasikan uang mereka dan hidup dalam ketidakpastian sampai akhir periode pelaporan. Koin manajer itu sendiri menjadi aset. Investor akan dapat terus memantau kinerja dan nilai tukar koin manajer mereka dan membeli dan menjual kapan saja selama periode pelaporan. Ini adalah proses yang jauh lebih banyak dalam prosesnya, lalu berikan uang Anda kepada manajer dan harapkan yang terbaik.

Hal ini mendorong investor untuk secara potensial melakukan diversifikasi dan mengumpulkan paket besar koin yang berbeda (yaitu berinvestasi dengan manajer yang berbeda)

Pikirkan proses ini seperti bermain olahraga fantasi. Anda memilih pemain mana (yaitu manajer) yang ingin Anda mulai (investasikan dengan) berdasarkan pada siapa mereka bermain (kondisi pasar) dengan menggunakan data tentang kinerja dan gaya bermain sebelumnya (strategi perdagangan).

Selain itu, manajer yang berbeda menggunakan strategi perdagangan yang berbeda (beberapa secara agresif bertujuan untuk keuntungan jangka pendek sementara yang lain terus menavigasi keuntungan jangka panjang). Investor dapat menggunakan data yang dapat diandalkan untuk memilih pedagang mana yang mereka investasikan berdasarkan pada tujuan pribadi mereka.

Masa depan

Semua perangkat lunak Genesis Vision bersifat open source sehingga setiap orang dapat mengembangkannya dan membuatnya lebih baik, sehingga menciptakan kemungkinan yang tidak terbatas untuk penerapan platform Genesis Vision.

Genesis Vision menciptakan pasar yang sama sekali baru dengan menggabungkan dua ruang terpisah namun kuat di bidang keuangan dan memberdayakan orang-orang biasa untuk mengambil kendali lebih besar atas kebebasan finansial mereka dengan memberi mereka alat untuk membuat keputusan berdasarkan informasi dan dengan mudah berinvestasi dengan para ahli dalam sejumlah mata uang yang berbeda.

Sekarang, apakah Anda melihat mengapa saya menyebutnya sebagai langkah berikutnya dalam evolusi investasi.

Jika Anda ingin mempelajari lebih lanjut tentang platform atau memulai investasi hari ini, klik saja tautan di bawah ini untuk mendaftar.

Website: https://genesis.vision/

Facebook: https://web.facebook.com/GenesisVisionProject/?ref=ts&fref=ts

twitter: https://twitter.com/genesis_vision

Pengguna: rafajunior99

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=839548

Inilah masa depan investasi

Platform perdagangan terdesentralisasi yang akan mengubah cara Anda berinvestasi dalam proyek ini.

Ada banyak yang salah dengan layanan manajemen kepercayaan tradisional. Investor memiliki sedikit kontrol atas uang mereka dan mekanisme distribusi keuntungan tersembunyi di dalam perhitungan pialang.

Manajer kepercayaan hanya bisa menjangkau investor di wilayah geografis yang terbatas dan kurangnya transparansi menciptakan hubungan yang tidak bersahabat antara investor, manajer dan pialang yang selanjutnya mempersulit sistem tersebut.

Evolusi Investasi

Meskipun lompatan progresif ke depan di bidang keuangan lainnya, instrumen manajemen kepercayaan tetap tidak berubah. Manajer kehilangan potensi peningkatan pendapatan dan pertumbuhan investor, sementara investor dipaksa membuat keputusan dengan data yang tidak akurat dan menangani serangkaian komplikasi yang tidak perlu.

Instrumen baru dibutuhkan untuk memenuhi tuntutan ruang berkembang ini di era digital.

Genesis Vision adalah langkah selanjutnya dalam evolusi itu. Ini adalah platform manajemen kepercayaan revolusioner dan terdesentralisasi yang didukung oleh blockchain.

Genesis Vision menyediakan sistem distribusi investasi dan keuntungan yang transparan dan otomatis bagi investor dan akses ke kumpulan investor global untuk pengelola uang.

Bukan hanya platform manajemen kepercayaan lainnya. Inilah beberapa hal yang membedakan Genesis Vision.

  • Perdagangan dalam mata uang kripto dan fiat diperbolehkan.
  • Platform ini dibangun berdasarkan kontrak cerdas Ethereum, keseluruhan proses investasi, distribusi keuntungan, konversi komisi dan mata uang sepenuhnya otomatis oleh blockchain, membuatnya benar-benar transparan.
  • Manajer ahli dapat terhubung dengan ribuan investor secara global, sehingga meningkatkan ukuran dana dan kolam investor mereka.
  • Manajer dapat menambahkan ribuan investor baru ke dana mereka dari manapun di dunia.
  • Investor dapat menggunakan data yang dapat diandalkan untuk berinvestasi dengan para ahli yang berbeda untuk mencapai tujuan yang diinginkan (seperti keuntungan jangka pendek atau keuntungan jangka panjang) berdasarkan strategi perdagangan pakar.
  • Berinvestasi itu mudah. Setiap manajer ahli mengeluarkan cryptocurrency (koin) mereka sendiri, yang nilainya didasarkan pada keberhasilan perdagangan mereka dan dapat dibeli dan dijual di bursa internal Kejadian Kejadian. Investasi itu sederhana seperti membeli koin manajer.
  • Investor memiliki kontrol yang lebih besar atas dana mereka dan dapat menjual koin manajer setiap saat.
  • Apakah saya menyebutkan keseluruhan proses itu transparan

Genesis Vision adalah sebuah meritokrasi sejati dimana investor maupun manajer tidak ditahan oleh komplikasi dan hambatan saat ini dalam perdagangan dan investasi.

Masalah dengan investasi aset tradisional

Jika Anda berinvestasi pada aset tradisional melalui layanan pengelolaan uang, Anda memiliki beberapa alasan untuk khawatir.

  • Kemungkinan besar Anda terikat dengan broker tunggal dan manajer pialang ini.
  • Pialang memiliki kemampuan teknis untuk mempengaruhi data dan sejarah perdagangan manajer mereka.
  • Mekanisme investasi, komisi dan distribusi keuntungan tersembunyi di dalam perhitungan mereka dan tidak terbuka untuk pengawasan publik (yaitu op

Kurangnya transparansi ini menciptakan ketidakpercayaan di pasar (memang seharusnya begitu) dan mungkin yang paling tidak berperasaan, menghambat investasi dari orang-orang biasa, membatasi partisipasi ke elit keuangan.

Demikian pula, jika Anda berinvestasi secara eksklusif dalam kripto dan ingin melakukan diversifikasi ke pasar tradisional, masalah di atas mungkin akan memberi Anda jeda.

Tanpa kemampuan untuk membuat keputusan mengenai keuangan dan investasi pribadi, investor (orang biasa) tidak akan pernah memiliki kebebasan finansial dan selamanya akan bergantung sepenuhnya pada para ahli yang disebut.

Solusinya

Dengan menciptakan pertukaran internal di mana masing-masing manajer ahli mengeluarkan kripto-nya sendiri, nilai yang ditentukan oleh tingkat keberhasilan perdagangan mereka, Genesis Vision membuatnya sehingga investor memiliki tingkat kontrol yang lebih tinggi sambil tetap menerima pengelolaan ahli dari uang mereka.

Proses investasi itu sederhana

  • Beli koin manajer di bursa internal.
  • Keuntungan dan komisi secara otomatis dibayarkan pada akhir periode pelaporan yang telah ditentukan.
  • Semua konversi mata uang ditangani secara otomatis oleh platform.
  • Investor dapat dengan mudah menjual koin manajer di bursa internal.

Metode investasi ini memiliki keuntungan utama dibandingkan platform investasi tradisional.

Investor tidak hanya menginvestasikan uang mereka dan hidup dalam ketidakpastian sampai akhir periode pelaporan. Koin manajer itu sendiri menjadi aset. Investor akan dapat terus memantau kinerja dan nilai tukar koin manajer mereka dan membeli dan menjual kapan saja selama periode pelaporan. Ini adalah proses yang jauh lebih banyak dalam prosesnya, lalu berikan uang Anda kepada manajer dan harapkan yang terbaik.

Hal ini mendorong investor untuk secara potensial melakukan diversifikasi dan mengumpulkan paket besar koin yang berbeda (yaitu berinvestasi dengan manajer yang berbeda)

Pikirkan proses ini seperti bermain olahraga fantasi. Anda memilih pemain mana (yaitu manajer) yang ingin Anda mulai (investasikan dengan) berdasarkan pada siapa mereka bermain (kondisi pasar) dengan menggunakan data tentang kinerja dan gaya bermain sebelumnya (strategi perdagangan).

Selain itu, manajer yang berbeda menggunakan strategi perdagangan yang berbeda (beberapa secara agresif bertujuan untuk keuntungan jangka pendek sementara yang lain terus menavigasi keuntungan jangka panjang). Investor dapat menggunakan data yang dapat diandalkan untuk memilih pedagang mana yang mereka investasikan berdasarkan pada tujuan pribadi mereka.

Masa depan

Semua perangkat lunak Genesis Vision bersifat open source sehingga setiap orang dapat mengembangkannya dan membuatnya lebih baik, sehingga menciptakan kemungkinan yang tidak terbatas untuk penerapan platform Genesis Vision.

Genesis Vision menciptakan pasar yang sama sekali baru dengan menggabungkan dua ruang terpisah namun kuat di bidang keuangan dan memberdayakan orang-orang biasa untuk mengambil kendali lebih besar atas kebebasan finansial mereka dengan memberi mereka alat untuk membuat keputusan berdasarkan informasi dan dengan mudah berinvestasi dengan para ahli dalam sejumlah mata uang yang berbeda.

Sekarang, apakah Anda melihat mengapa saya menyebutnya sebagai langkah berikutnya dalam evolusi investasi.

Jika Anda ingin mempelajari lebih lanjut tentang platform atau memulai investasi hari ini, klik saja tautan di bawah ini untuk mendaftar.

Website: https://genesis.vision/

Facebook: https://web.facebook.com/GenesisVisionProject/?ref=ts&fref=ts

twitter: https://twitter.com/genesis_vision

Pengguna: rafajunior99

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=839548

The Alt coin world!!

The Alt coin world!!

I read this answer on Quora last week about how Matej Galvanek does his research about various alt coins that exist.

You can read his answer over here.

Some of the things that I thought were interesting are given below:

Steps

First I have to strongly believe that whole industry (cryptocurrencies) is disruptive and is here to stay and take over. And that belief must come from understanding, not blind wishes. For that, some studying is necessary - I read BTC whitepaperand Whitepaper of every cryptocurrency from TOP 10 by market cap to develop a strong base knowledge of the industry. I ask questions on reddit, etc. I stay clear from spam Facebook groups full of hyped up people talking about random price fluctuations.Then I start researching cryptocurrency by cryptocurrency. I quickly skim through the webpage. If I do not understand the key value proposition of the cryptocurrency, I write it off. I like to understand what I am buying, and there is lot of bullshit out there, with very unclear (if any) value proposition (usually anything regarding social media is bullshit).If I understand and like the value proposition of a coin or token, I am going to see under which blockchain is it build. Most of them are build under Ethereum. So I ask myself - does it make sense to invest in this coin? Isn’t it better to invest directly into Ethereum? How are they correlated?If I see the coin is priced pretty low (comparing market cap), I might go directly for the coin. If it already went up couple of hundreds or thousands of %, I might as well invest directly into ETH.When I decide the price is right, I am going to dig deeper - reading whitepaper, reddit boards (sometimes you find pearls like this ). I ask some hard questions -Is it inflationary and how much? Is it valuable for this project to use blockchain? Most of the services could just as well use SQL database and it wouldn’t matter. I beware of same old business disguising itself as disruptive blockchain tech. There are plenty of them.I pay special attention to team - who are these guys? How experienced are they? Are they fully committed or is this just a sidekick project? Especially - who are developers and how many of them is there? If I see 7 founders, and only 1–2 are devs(the rest usually being “marketing, community management, finance, sales, visionary…”) I run away.If the coin passes all these filters, I am going to close my eyes and buy for couple of bucks. I always only buy for as much as I can lose. I am not going to daytrade, stare into charts or panic sell. I am going to let it lie for 1–5 years, occasionally watching and reading the news about project. I also set up some sell limit order for 1/3 - 1/2 of the investment for 300% - 600% to secure a profit and freeroll if it spikes suddenly (which happens a lot here), depends on the coin and my faith in it.

Using these steps, I thought of building a research journal about every Alt coin that has existed, so that investors do not have to dig deep into researching white papers, blogs, articles, news, etc.

Each week I’ll be publishing about one or two crypto currencies here on Medium and also my blog (which is tba). I’ll be researching their white paper, the team behind it, use case, any significant news which might affect its price, articles from experts about this currency etc. Here on Medium, I’ll just be giving a short summary about that currency, and the rest of detailed article can be found on my website or blog, whatever you’d like to call it.

The Alt coin world!!

The Alt coin world!!

I read this answer on Quora last week about how Matej Galvanek does his research about various alt coins that exist.

You can read his answer over here.

Some of the things that I thought were interesting are given below:

Steps

First I have to strongly believe that whole industry (cryptocurrencies) is disruptive and is here to stay and take over. And that belief must come from understanding, not blind wishes. For that, some studying is necessary - I read BTC whitepaperand Whitepaper of every cryptocurrency from TOP 10 by market cap to develop a strong base knowledge of the industry. I ask questions on reddit, etc. I stay clear from spam Facebook groups full of hyped up people talking about random price fluctuations.Then I start researching cryptocurrency by cryptocurrency. I quickly skim through the webpage. If I do not understand the key value proposition of the cryptocurrency, I write it off. I like to understand what I am buying, and there is lot of bullshit out there, with very unclear (if any) value proposition (usually anything regarding social media is bullshit).If I understand and like the value proposition of a coin or token, I am going to see under which blockchain is it build. Most of them are build under Ethereum. So I ask myself - does it make sense to invest in this coin? Isn’t it better to invest directly into Ethereum? How are they correlated?If I see the coin is priced pretty low (comparing market cap), I might go directly for the coin. If it already went up couple of hundreds or thousands of %, I might as well invest directly into ETH.When I decide the price is right, I am going to dig deeper - reading whitepaper, reddit boards (sometimes you find pearls like this ). I ask some hard questions -Is it inflationary and how much? Is it valuable for this project to use blockchain? Most of the services could just as well use SQL database and it wouldn’t matter. I beware of same old business disguising itself as disruptive blockchain tech. There are plenty of them.I pay special attention to team - who are these guys? How experienced are they? Are they fully committed or is this just a sidekick project? Especially - who are developers and how many of them is there? If I see 7 founders, and only 1–2 are devs(the rest usually being “marketing, community management, finance, sales, visionary…”) I run away.If the coin passes all these filters, I am going to close my eyes and buy for couple of bucks. I always only buy for as much as I can lose. I am not going to daytrade, stare into charts or panic sell. I am going to let it lie for 1–5 years, occasionally watching and reading the news about project. I also set up some sell limit order for 1/3 - 1/2 of the investment for 300% - 600% to secure a profit and freeroll if it spikes suddenly (which happens a lot here), depends on the coin and my faith in it.

Using these steps, I thought of building a research journal about every Alt coin that has existed, so that investors do not have to dig deep into researching white papers, blogs, articles, news, etc.

Each week I’ll be publishing about one or two crypto currencies here on Medium and also my blog (which is tba). I’ll be researching their white paper, the team behind it, use case, any significant news which might affect its price, articles from experts about this currency etc. Here on Medium, I’ll just be giving a short summary about that currency, and the rest of detailed article can be found on my website or blog, whatever you’d like to call it.

Blockchain company will provide one million people in Asia with their first loans

By 2020, about 1 million people in Asia will receive their very first loans ever. Crypto economy is the tool that will help them to merge into financial markets and to apply for approximately 3 million payday loans annually. MicroMoney, a global blockchain company and lending services provider, aims to support this process allowing people with no credit rating score to enter Asian banks with positive credit histories.

MicroMoney’s co-founder, Anton Dziatkovsky, is going to form a market for the credit histories creation from scratch and their further support in emerging markets. Now his company works as a microfinance business helping the unbanked and underbanked people to provide their primary needs with payday loans. On the other hand, MicroMoney helps banks and other financial organizations to access new markets in the Southeast Asia and other emerging regions with lower risks providing them with a database of reliable borrowers in each region with all the segmentation by an audience, risk level and costs related to each segment. MicroMoney’s platform uses Big Data methods, all the data is keeping with the help of blockchain technology, and the unique scoring model based on information received from client’s mobile phone with the special application designed by the company.

The process looks quite simple for a lender: the Big Data platform drives all the data received from the phone through neural networks, analyzes the result, and evaluate a customer’s trustworthiness. Clear and full information about a person based on the analysis of a customer’s data available from all the mobile sources and includes career information, interests, social networks accounts (confirming that this particular person is real), travel notes, family status, penalties received and so on. According to Anton Dziatkovskii, this content sounds more truthful and allows predicting a customer’s behavior to avoid excessive risks.

The company chose the mobile phone because of a high level of smartphones’ penetration, even in countries with a low level of banking services distribution. For example, in Africa, 80% of the population does not have a bank account but 63 of 100 people use mobile phones. Secondly, this is a higher popularity of smartphones above laptops and computers. Finally, it’s practically equal capabilities of smartphones’ and PCs processors and features along with significant progress in financial services mobilization, cloud services, and Big Data systems to analyze all these data.

“95% of our clients take their first loan ever, — Anton Dziatkovsky says. — Usually, they get stuck in a kind of endless circle: if they need a credit, they need a credit history, and to get a credit score and the history they need a credit. Meanwhile, banks are keeping a focus on medium and large enterprises lending in emerging markets. Microfinance companies embrace the others but the process of loan applications approval in Asia is extremely complicated and long due to the lack of automation. The common practice there is to keep all the data in Excel or even in paper ledgers. For the loan application, a person needs a collateral (in Cambodia and Myanmar, for example, it can be real or land property) and a lot of papers such as references from police, municipality, property owner, income statement, a letter from job manager etc. A person may find four or six friends and band them to achieve a group loan. In Indonesia, Cambodia, Myanmar, and Sri Lanka, for example, the process may last from 1 week to 2–3 months. MicroMoney approve or decline a loan application within 15 minutes without any collaterals or documents required. The first loan will be small — about $23 usually but after 5–10 loans, a borrower can rise up to $200–300”.

In turn, banks, credit, and insurance companies have to spend up to 15% of the budget for the customers’ verification and purchase credit histories from credit bureaus in order to explore their risks and loan percentage to establish for each audience segment. According to statistics, banks make 2–3 requests per one person per year with the price of inquiry $1–10 average. MicroMoney plans to give all these financial organizations an access to its list of the most reliable borrowers from each region with positive credit score rates.

The market seems to be very perspective: 39% of the world’s population doesn’t have a bank account. According to the McKinsey, the most affected regions are Africa, Latin America, and the Middle East (about 65–80% of the adult population are unbanked).

MicroMoney now employs about 200 people in Cambodia, Myanmar, Singapore, Sri-Lanks, and Thailand to service its microfinance business and some software developers, marketing, and PR managers, copywriters from the United Kingdom, Israel, and Russia to promote the company. In Asia, the project works with local partners. The first partner is the adviser to the Prime Minister of Cambodia for Economic Affairs, and CEO of one of the largest development companies in the country Sonatra Group, Okna Sorn Sokna. The second is the East Wing ASA Capital venture fund with about $100 million of capital and its member, the head of Sonatra’s affiliate companies — Mr. Tetsuji Nagata. They both are not only the stakeholders and top-managers of MicroMoney but also enthusiastic advisors for the company’s token distribution campaign that will start this October.

Anton Dziatkovsky is sure to win the game and promises that the company’s tokens will grow constantly supported by the growth in the company’s microfinance business and payday loans approved, along with Big Data platform high demand from banks waiting for an entrance to emerging markets. “We will do our best to raise the price of our tokens up to +1000% for the first year due to our launch in five new markets by the end of 2017”.

MicroMoney plans to issue about 600 thousand payday loans per year and, thus, involve 1 million of unbanked people into crypto-economy by 2020. “Now about two and a half billion people worldwide are unserved and don’t have any access to bank services. Our goal is to connect banks and unbanked”, — notes Anton.

Blockchain company will provide one million people in Asia with their first loans

By 2020, about 1 million people in Asia will receive their very first loans ever. Crypto economy is the tool that will help them to merge into financial markets and to apply for approximately 3 million payday loans annually. MicroMoney, a global blockchain company and lending services provider, aims to support this process allowing people with no credit rating score to enter Asian banks with positive credit histories.

MicroMoney’s co-founder, Anton Dziatkovsky, is going to form a market for the credit histories creation from scratch and their further support in emerging markets. Now his company works as a microfinance business helping the unbanked and underbanked people to provide their primary needs with payday loans. On the other hand, MicroMoney helps banks and other financial organizations to access new markets in the Southeast Asia and other emerging regions with lower risks providing them with a database of reliable borrowers in each region with all the segmentation by an audience, risk level and costs related to each segment. MicroMoney’s platform uses Big Data methods, all the data is keeping with the help of blockchain technology, and the unique scoring model based on information received from client’s mobile phone with the special application designed by the company.

The process looks quite simple for a lender: the Big Data platform drives all the data received from the phone through neural networks, analyzes the result, and evaluate a customer’s trustworthiness. Clear and full information about a person based on the analysis of a customer’s data available from all the mobile sources and includes career information, interests, social networks accounts (confirming that this particular person is real), travel notes, family status, penalties received and so on. According to Anton Dziatkovskii, this content sounds more truthful and allows predicting a customer’s behavior to avoid excessive risks.

The company chose the mobile phone because of a high level of smartphones’ penetration, even in countries with a low level of banking services distribution. For example, in Africa, 80% of the population does not have a bank account but 63 of 100 people use mobile phones. Secondly, this is a higher popularity of smartphones above laptops and computers. Finally, it’s practically equal capabilities of smartphones’ and PCs processors and features along with significant progress in financial services mobilization, cloud services, and Big Data systems to analyze all these data.

“95% of our clients take their first loan ever, — Anton Dziatkovsky says. — Usually, they get stuck in a kind of endless circle: if they need a credit, they need a credit history, and to get a credit score and the history they need a credit. Meanwhile, banks are keeping a focus on medium and large enterprises lending in emerging markets. Microfinance companies embrace the others but the process of loan applications approval in Asia is extremely complicated and long due to the lack of automation. The common practice there is to keep all the data in Excel or even in paper ledgers. For the loan application, a person needs a collateral (in Cambodia and Myanmar, for example, it can be real or land property) and a lot of papers such as references from police, municipality, property owner, income statement, a letter from job manager etc. A person may find four or six friends and band them to achieve a group loan. In Indonesia, Cambodia, Myanmar, and Sri Lanka, for example, the process may last from 1 week to 2–3 months. MicroMoney approve or decline a loan application within 15 minutes without any collaterals or documents required. The first loan will be small — about $23 usually but after 5–10 loans, a borrower can rise up to $200–300”.

In turn, banks, credit, and insurance companies have to spend up to 15% of the budget for the customers’ verification and purchase credit histories from credit bureaus in order to explore their risks and loan percentage to establish for each audience segment. According to statistics, banks make 2–3 requests per one person per year with the price of inquiry $1–10 average. MicroMoney plans to give all these financial organizations an access to its list of the most reliable borrowers from each region with positive credit score rates.

The market seems to be very perspective: 39% of the world’s population doesn’t have a bank account. According to the McKinsey, the most affected regions are Africa, Latin America, and the Middle East (about 65–80% of the adult population are unbanked).

MicroMoney now employs about 200 people in Cambodia, Myanmar, Singapore, Sri-Lanks, and Thailand to service its microfinance business and some software developers, marketing, and PR managers, copywriters from the United Kingdom, Israel, and Russia to promote the company. In Asia, the project works with local partners. The first partner is the adviser to the Prime Minister of Cambodia for Economic Affairs, and CEO of one of the largest development companies in the country Sonatra Group, Okna Sorn Sokna. The second is the East Wing ASA Capital venture fund with about $100 million of capital and its member, the head of Sonatra’s affiliate companies — Mr. Tetsuji Nagata. They both are not only the stakeholders and top-managers of MicroMoney but also enthusiastic advisors for the company’s token distribution campaign that will start this October.

Anton Dziatkovsky is sure to win the game and promises that the company’s tokens will grow constantly supported by the growth in the company’s microfinance business and payday loans approved, along with Big Data platform high demand from banks waiting for an entrance to emerging markets. “We will do our best to raise the price of our tokens up to +1000% for the first year due to our launch in five new markets by the end of 2017”.

MicroMoney plans to issue about 600 thousand payday loans per year and, thus, involve 1 million of unbanked people into crypto-economy by 2020. “Now about two and a half billion people worldwide are unserved and don’t have any access to bank services. Our goal is to connect banks and unbanked”, — notes Anton.

Token Economy #15: VC-induced ICOs

+ first cross-chain atomic swaps, new funds, FreeSociety

😈 VC firms pushing for / condoning ICOs: a dangerous game

This week, after a few more calls with startups that are turning into wannabe ICO issuers and most of all after seeing yet another major VC-backed company planning an ICO, I started questioning the intentions and goals of the VCs and investors that are pushing their portfolio companies to raise capital with token sales.

I think we are reaching the limit of the first wave of ICOs, with a constant stream of absolutely bonkers proposals bordering on scams.

I hear your questions: “if you’re so critical of ICOs, why are you even writing this newsletter and caring about this market?”

My interest lies in the technological revolution rather than in the bypassing of venture capital and other traditional funding mechanisms.
Bitcoin and Ethereum have been the two biggest technological and economic revolutions I’ve witnessed in my life, and they’ll be hard to beat in the future.

When I think we now have almost fully-featured trustless, censorship-resistant economic and computing networks, I still get giddy. It’s amazing.

But while I think democratization of access to capital is amazing, I also think we’re not at that stage at the moment, and we won’t be for a while, not until we’re able to move a lot of the economic activity to the blockchain and until we’ll coordinate entrepreneurial endeavors with Aragon or similar structures.

What we’re witnessing now is just a complete cash grab from people that are devising tokens just to justify raising cash from absolutely uninformed market participants.

In my town, asking money from people in exchange for something you think is worth 0 is squarely on the other side of the “OK” line.

If I see a desperate startup do that just to survive, I just recognize it and instantly pass.

BUT, when I suspect that some VCs are actively suggesting to their companies to think about token sales, then I start to worry.
And I really worry for them, but most of all for all of the venture ecosystem.

As usual when something wanders through my neural paths, I posted it to twitter, but this time I’d really like to explore the topic a bit more in depth, as well as solicit the feedback and ideas of both crypto and VC people.

My current view is that the game that ICO-pushing VCs are playing is all risk and very little reward, which doesn’t make it a great one.

- Let’s assume we have a non-performing company in our portfolio with a large user base.
This is maybe a company that has failed to find a way to monetize, or doesn’t have enough growth metrics to attract the next VC round, or just plainly hasn’t found PMF yet.

- Let’s also assume we are well aware of the ICO trend, and are capable of providing a strong signal to the wider market, bumping up the chances of said company to raise substantial funding in a public token sale.

What do we do? And why?

My mental model has to split or fork here, based on one crucial factor:

do we, as investors, actually believe that an application-specific token with no cryptographic reason of existence would generate and retain value both for the company and the token holders?

If we do believe that, then it’s all good. We don’t care about the equity anymore, are happy to relinquish governance to a foundation maybe, and will just hold the token for the long term until the company has developed its ecosystem and has been able to align the value exchanged on the network to the token.

But I have a hard time thinking that some of the smartest minds in the world believe that introducing more friction in an ecosystem, with no underlying “platform protocol” which would need a token, would result in any more value (especially at the valuations for tokens that are flying around).

- So, let’s now also assume that we don’t really believe the token should exist or would improve the chances of success for the company.

What do we do now?
Do we condone / suggest an ICO?
Do we advise against one?

It’s a VERY tricky question.

After a bit of thinking, my bottom line is that there is no real positive outcome in a situation like this for the VC firm.

Let’s assume the positive scenario where there is a successful token sale, and the company raises $100M.

The company gets some nice new runway, but even if it’s then able to find its real path, it would have trouble to get acquired. Who would ever in their right mind acquire a company that sold hundreds of millions of dollars of securities around the world to god knows who? That would not pass one single due diligence meeting with any reasonable acquirer.

Same goes for a public market listing.

So the equity of the company, even if it might not have been worth much earlier, is now worth probably even less.

Obviously if the company raises the money and then fails to achieve anything, we’d now have thousands of pissed “investors” all over the world.

In both cases, the VC doesn’t really come out of it too well, and I think could go down in flames like some firms that were financing pre-bubble internet firms.

Because, now, instead of being remembered as the VC who backed that startup that failed, we’ll be remembered as the VC who backed a startup that failed and also sold extremely high risk securities to users all around the world for a lot of money.

One of my favorite comments on a group was:
“If they were to incorporate a token for a novel use case, and sell a small amount, at a fair valuation. And if they didn’t use that funds to pay back investors, I would be excited to see adoption by a large app.
But this isn’t adoption. This is a bailout.”

And, FWIW, this is the feeling with almost everyone I consider smart and informed in the crypto community.

To my surprise, I got an answer to the previously linked tweet, from none other than Fred Wilson himself.

I’ve revered Fred for most of my life, and have been extremely impressed with his ability to grasp new trends and get conviction on them, so I have nothing but respect for the man,

But the answer wasn’t really too convincing this time around.

Fred answered linking to a blog post from Albert Wenger (another of my favorite people) where he basically argues that we should encourage different ways of pursuing a path to a decentralized future. Some will do it with ICOs for new protocols and some will do it with ICOs for current networks.

My view is that we can accelerate towards a decentralized future without VCs offloading their venture risk to the public.

Companies with existing user bases should absolutely experiment (because let’s remember that here no one has a clue what they’re doing, we’re all just experimenting) with tokens, but they can very effectively and much more safely do that without having people buy them.
They can just give them out to incentivize specific actions or assign monetary value to specific and previously un-valued transactions of any sort.

I think it’s dishonest to not address this point and carry on like ICOs are a must if you want to introduce a token. They aren’t.

And Fred very well knows this. His only argument on this is that these companies have heavy burns because of their large audiences.
Was really surprised to get this type of answer from someone like Fred. Might start believing they actually think that it’s ok because they have a lot of costs.

In a chat with Joe Urgo of district0x he provided a very interesting completely alternative idea to mine, saying that this is the only right behavior.

“Like he says in his follow up tweet, necessity is the mother of invention. Like we were talking about the other day, these companies are dead in the water as is, so they need to try something. I don’t know that I could call what they are doing dangerous at all, they are being prudent, they are advising their dying investments to take a hail mary and at least try to make something work.

If VC firms know this is a viable option at the moment (which they all should), then it could be argued that _not_ advising companies in similar boats to do the same is dangerous. It shows they are more worried about reputational blowbacks to them than in helping their companies succeed.”

I guess only time will tell.

For now, I’m still only writing checks for core cryptographic protocols whose usage is directly linked to the value of the token and still advising anyone which does not have a core need or use for a token to 1) not use one and 2) if they really must, then most definitely don’t do an ICO but just introduce it gradually, test, learn and think about the future repercussions of their actions.

📌 Token Economy

If I’d Known What We Were Starting

An absolute gem from the #3 Bitcoin user, after Satoshi and Hal Finney. I don’t think it deserves a tl;dr because you need to read this now.

Developers Complete First-Ever Atomic Swap Between Litecoin and Decred

Another week, another major milestone for crypto.

If you’re tired of ICOs, this is the news you’re looking for.

Decred and Litecoin developers have successfully completed an Atomic Swap, according to a tweet from the Decred team.

An atomic swap is basically a ShapeShift-like transaction that happens automatically, on-chain.

Unfortunately there hasn’t been too much disclosed on how it actually happened, so we will have to wait to see how it impacts projects like 0x and Kyber.

The first thought here, is that atomic swaps will be better than using a DEX protocol or platform, BUT they won’t have relayers and order books to organize liquidity.

Another thing to add to the “super interesting to think about” stack.

Markowitz portfolio optimization for cryptocurrencies in Catalyst

Very cool article by a former Mexico Central Bank portfolio manager, now an MBA candidate at Sloan, on how to apply portfolio optimization based on standard MPT to crypto portfolios.

The author uses Enigma’s Catalyst platform (a platform to run micro crypto funds using data shared on the Enigma network).

Accelerating Evolution Through Forking

In a follow up post to his excellent funding protocol development through inflation, Fred Ehrsam elaborates on the value of (hard) forks as an evolutionary mechanism for blockchains.

Fred make strong argument for redistribution of tokens at forks (which rarely happens) to ensure incentives are fully aligned, by switching control of foundation-like tokens and diluting all token holders to make grants for the developers leading the fork.

Bitcoin Developers Reveal Roadmap for ‘Dandelion’ Privacy Project

I’m not going to link to the actual BIP thread because it’s too complicated, BUT I think this is interesting.

There is a team that is working on a BIP called Dandelion which would add a privacy layer on top of Bitcoin transactions by removing the ability to find out the IP from the transactions.

The solution is a sort of TOR for Bitcoin.

This is interesting because many of the Bitcoin monitoring tools sold to governments and police around the world use this specific “feature” of the network to identify users.

The race for privacy coins is on, and with Ethereum enabling zk-snarks and Monero’s price rise + ZCash constant development, I don’t really see a future for non-private-by-default coins.

Ethereum’s Metropolis Hardfork Activated on Testnet, a Zcash Transaction Verified

Byzantium, the first part of Ethereum’s Metropolis hardfork, is live on testnet and it was just used to verity a zk-snark transaction.

Zooko also wrote about this from Zcash’s side.

So cool to see core technology advancements go this fast, in a sea of ICO scams.

This is where the future is.

Ethereum founder Vitalik Buterin discusses initial coin offerings, the consensus algorithm, and the most interesting apps

Every day I grow more convinced that our generation’s Steve Jobs will be Vitalik.

“But whereas in bitcoin the protocol exists to maintain the currency, in ethereum, the viewpoint is much more that the currency exists to maintain the protocol.”

A great interview to read.

I am VERY excited about Ethereum, given the amazing pace of development. If my VC investment days have taught me something, seeing a project with this sort of public interest + quality fast code shipping, it’s not going to slow down any time soon.

Vitalik shares his top-three priorities for Ethereum’s development at the moment:
- PoS
- Scalability
- Privacy

🚀

Decentralizing Everything with Ethereum’s Vitalik Buterin | Disrupt SF 2017

25 minutes of Naval interviewing Vitalik.

Amazing background watching.

YC wants to let people invest in its startups through the blockchain

The title is a bit misleading, but Sam is apparently admitting to YC having done work to figure out its approach to ICOs.

In the last YC batch there were only 2 blockchain companies, but that might change with the next one.

We’ll keep an eye out.

An Alleged Ethereum Hacker Gave Back $3 Million And Nobody Knows Why

Well this is a weird one. Remember that CoinDash hack? (Where a bunch of people even suggested that it was an inside job..)

Apparently the hacker just sent back around $3M worth of Ether they stole form Coindash / to Coindash.

I don’t have any mental energy or cycles to spend on this one, so just presenting it like it is.

Announcing Ethereum & Litecoin vaults — Coinbase

FINALLY. This is my #1 favorite feature of Coinbase, but was only available for Bitcoin until this new release.

If you don’t have a hardware wallet, this is what you should be using.

Guide: Coin recovery tool — TREZOR

Every time someone improves on the UX of crypto usage, it’s awesome news.

In this case, Trezor has released some tools to enable the recovery of most erroneous transactions (when you send coins from specific chains to wrong chains or badly formatted addresses).

🚨 Growing pains

The FCA has spoken on ICOs

The UK Financial Conduct Authority (FCA) issued a brief statement warning consumers about the risks involved in ICOs, stating how some ICOs “fall outside the regulated space”, some don’t. Notable difference with US security law is that the UK does not have an equivalent to the Howey test.

On that note, if you are into security law and can bear with Preston Byrne’s marmot jokes, he’s meticulously dissected the FCA announcement here from the perspective on an English lawyer.

Of all the major regulators who have expressed views, the UK FCA appears to have taken the most light touch approach so far.

🤡 ICO Madness

Raiden ICO: Ethereum Scaling Solution to Launch Publicly Traded Token

“Ethereum’s answer to bitcoin’s Lightning Network will have one notable difference — a publicly traded token to be sold in a Dutch auction in October.”

This is a big disappointment for me, as I was really hoping that Raiden would launch without a token and bring Lightning-like capabilities to the Ethereum chain.

Too hard to ignore the millions flying around obviously.

Announcing the SpankChain ICO

I’ll try to not trigger the spam filters here, article is SFW, site is not.

Crypto bubble fears grow as Jamie Foxx, celebrities jump aboard

We’ve spoken about this before, but hopefully peak ICO is almost around the corner.

We wouldn’t be surprised if some of these celebrities are going to end up being prosecuted for the promotion of unregistered securities, insider trading, bribes and so on, as they most likely are receiving both cash and tokens, which they have an incentive to help appreciate in value.

🍿

Is There a Cryptocurrency Bubble? Just Ask Doge. — The New York Times

The NYT interviews the creator of Dogecoin, which has been sounding the alarm for a while now.

Blackmoon Crypto raises $20 million in ICO in 1 day, and $10M in pre-sale

The Blackmoon Crypto platform touts itself as “a one-stop solution for asset managers to create and manage legally-compliant tokenized funds”

😎 Cool new projects

FreeSociety

Roger Ver and a bunch of early Bitcoin millionaires (billionaires?) are planning to buy land and sovereignty over that land from a country. They have more than $100M, which they plan to offer to highly indebted countries to form a “new Monaco” of sorts. It needs to be in a safe zone and be accessible by water.

Libertarians at it again.

I was enamored with the Seasteading Institute efforts, but I’ve also grown more interested and appreciative of the roles that nation states play in our lives.

That being said, I’m all for experimentation in government and monetary policy, so I’m extremely excited by this!

I’m also pretty sure that we might be looking at another ICO here.. but hopefully they’ll just adopt Bitcoin as the national currency instead.

The Ocean Protocol

BigchainDB, in partnership with Dex, unveiled the concept behind the Ocean Protocol, the natural evolution of their work on blockchain + AI.

Ocean will be a protocol and network to facilitate data marketplaces. The protocol will have the role of figuring out who owns what and provide the linking infrastructure.

Data marketplaces have been a pretty obvious idea since the beginning of blockchain and smart contract technologies, so it’s exciting to see more people try to implement them.

Ocean will probably go on to compete with the Enigma network from MIT’s Media Lab.

Harvest — Wind energy used to mine cryptocurrency to fund climate research

“Harvest” is a piece of tech-art commissioned by the Konstmuseet i Skövde museum that uses wind energy to power a computer, connected to the internet via satellite or 4G and geared with an Nvidia graphics card, to mine Zcash. The earnings will fund for climate-change research.

The interesting aspect of this experiment is that crypto currency offers an alternative and decentralised way to ‘store’ energy without relying on a centralised grid and the fees typically incurred in transferring energy to it.

Announcing Balanc3: Quickbooks for Token Launches

Balanc3 — a ConsenSys formation — has been working in stealth for over a year to build out a blockchain-based accounting platform.

Super cool. They take live blockchain transaction data and turn it into accounting style data.
Sounds like the worst possible job to me, but really glad someone is doing it — I’m sure this will be massively useful to a number of projects in the future.

Ripio

RIpio is building a global credit network solution that aims to enhance transparency and reliability in credit and lending

😤 First they ignore you, then they laugh at you, then…

ECB’s Constancio compares Bitcoin to Dutch tulip mania

“Bitcoin is not a currency but a mere instrument of speculation”. “Bitcoin is sort of a tulip”.

They just don’t know when to stop the broken record do they?

Stay Away from Bitcoin, It’s an ‘Absolute Bubble’ Says Hathaway

This is just a gem to be added to the Bitcoin Obituaries, and I think we’ll be watching this again and again in a few years.

It’s still fascinating how some people just. do. not. get. it. and feel confident in dismissing the whole asset class and tech movement.

I just hope I’ll never end up making such comments about new technologies when I’m all grown up. Chances are slim unfortunately 😂

Russian Governor Invites Cryptocurrency Miners to Set Up Mining Farms in Leningrad

The regulatory and geopolitical wars (protocolitics as Yannick coined them) continue!
The Russian Leningrad region wants to create an industrial park for cryptocurrency mining including bitcoin.
They are promising cheap energy and some special conditions, to try and attract maybe even some of the Chinese operators.

JPMorgan Chase boss Jamie Dimon faces market abuse report after his comments about bitcoin

Fun times!

Blockswater, an algorithmic liquidity provider, has filed a market abuse report against Jamie Dimon for “spreading false and misleading information” about bitcoin with the Swedish Financial Supervisory Authority.

They say Dimon violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was “a fraud”.

They also say that JPM traded BTC derivatives in Stockholm, so they might actually have a real case.

The SEC Got Hacked, Took A Year To Learn People Might’ve Traded On It, Disclosed These Facts Parenthetically In A Bizarre Statement, And Wants Companies To Do None Of These Things

On the internet, everyone gets hacked.

🤑 VC corner

Balderton leads $9 million Series B in Luno

We humbly admit we had not come across Luno before, and praise Nicolas Debock from Balderton for keeping his lips sealed about it at the Venture Retreat last weekend…

The play here is the global mass market adoption of crypto and the need for user friendly front ends for fiat to enter the ecosystem.

💰 New funds

Linda Xie leaves Coinbase to start a yet unnamed crypto-fund

Coinbase spins out crypto fund managers faster than it resolves support tickets.

After Nick Tomaino (1Confirmation) and Olaf Carlson-Wee (Polychain), Linda, former product manager, and Jordan Clifford, software engineer, join forces in yet another crypto hedge fund endeavour.

Steven McKie leaves Purse to start crypto hybrid hedge/venture fund Amentum

Author of Blockchannel podcast and former head of growth at Purse and more recently decentralised-Quora Cent.co, Steven McKie is teaming up with three other partners with a new crypto fund endeavour. Focus will be on public crypto assets as well as ICO pre-sales, with no info yet on fund size and other other GPs.

Steven is a true crypto-native so we very much look forward to finding out more about what he’s been cooking up, we hope it’s not just about muscling in on pre-sale discounts and buy & hold ETH/BTC!

More info soon, we are promised.

ℹ️ About us

Token Economy is written and curated by Stefano Bernardi and Yannick Roux.

If you’re building a new fundamental piece of technology for the future, please reach out 🤙

Token Economy #15: VC-induced ICOs

+ first cross-chain atomic swaps, new funds, FreeSociety

😈 VC firms pushing for / condoning ICOs: a dangerous game

This week, after a few more calls with startups that are turning into wannabe ICO issuers and most of all after seeing yet another major VC-backed company planning an ICO, I started questioning the intentions and goals of the VCs and investors that are pushing their portfolio companies to raise capital with token sales.

I think we are reaching the limit of the first wave of ICOs, with a constant stream of absolutely bonkers proposals bordering on scams.

I hear your questions: “if you’re so critical of ICOs, why are you even writing this newsletter and caring about this market?”

My interest lies in the technological revolution rather than in the bypassing of venture capital and other traditional funding mechanisms.
Bitcoin and Ethereum have been the two biggest technological and economic revolutions I’ve witnessed in my life, and they’ll be hard to beat in the future.

When I think we now have almost fully-featured trustless, censorship-resistant economic and computing networks, I still get giddy. It’s amazing.

But while I think democratization of access to capital is amazing, I also think we’re not at that stage at the moment, and we won’t be for a while, not until we’re able to move a lot of the economic activity to the blockchain and until we’ll coordinate entrepreneurial endeavors with Aragon or similar structures.

What we’re witnessing now is just a complete cash grab from people that are devising tokens just to justify raising cash from absolutely uninformed market participants.

In my town, asking money from people in exchange for something you think is worth 0 is squarely on the other side of the “OK” line.

If I see a desperate startup do that just to survive, I just recognize it and instantly pass.

BUT, when I suspect that some VCs are actively suggesting to their companies to think about token sales, then I start to worry.
And I really worry for them, but most of all for all of the venture ecosystem.

As usual when something wanders through my neural paths, I posted it to twitter, but this time I’d really like to explore the topic a bit more in depth, as well as solicit the feedback and ideas of both crypto and VC people.

My current view is that the game that ICO-pushing VCs are playing is all risk and very little reward, which doesn’t make it a great one.

- Let’s assume we have a non-performing company in our portfolio with a large user base.
This is maybe a company that has failed to find a way to monetize, or doesn’t have enough growth metrics to attract the next VC round, or just plainly hasn’t found PMF yet.

- Let’s also assume we are well aware of the ICO trend, and are capable of providing a strong signal to the wider market, bumping up the chances of said company to raise substantial funding in a public token sale.

What do we do? And why?

My mental model has to split or fork here, based on one crucial factor:

do we, as investors, actually believe that an application-specific token with no cryptographic reason of existence would generate and retain value both for the company and the token holders?

If we do believe that, then it’s all good. We don’t care about the equity anymore, are happy to relinquish governance to a foundation maybe, and will just hold the token for the long term until the company has developed its ecosystem and has been able to align the value exchanged on the network to the token.

But I have a hard time thinking that some of the smartest minds in the world believe that introducing more friction in an ecosystem, with no underlying “platform protocol” which would need a token, would result in any more value (especially at the valuations for tokens that are flying around).

- So, let’s now also assume that we don’t really believe the token should exist or would improve the chances of success for the company.

What do we do now?
Do we condone / suggest an ICO?
Do we advise against one?

It’s a VERY tricky question.

After a bit of thinking, my bottom line is that there is no real positive outcome in a situation like this for the VC firm.

Let’s assume the positive scenario where there is a successful token sale, and the company raises $100M.

The company gets some nice new runway, but even if it’s then able to find its real path, it would have trouble to get acquired. Who would ever in their right mind acquire a company that sold hundreds of millions of dollars of securities around the world to god knows who? That would not pass one single due diligence meeting with any reasonable acquirer.

Same goes for a public market listing.

So the equity of the company, even if it might not have been worth much earlier, is now worth probably even less.

Obviously if the company raises the money and then fails to achieve anything, we’d now have thousands of pissed “investors” all over the world.

In both cases, the VC doesn’t really come out of it too well, and I think could go down in flames like some firms that were financing pre-bubble internet firms.

Because, now, instead of being remembered as the VC who backed that startup that failed, we’ll be remembered as the VC who backed a startup that failed and also sold extremely high risk securities to users all around the world for a lot of money.

One of my favorite comments on a group was:
“If they were to incorporate a token for a novel use case, and sell a small amount, at a fair valuation. And if they didn’t use that funds to pay back investors, I would be excited to see adoption by a large app.
But this isn’t adoption. This is a bailout.”

And, FWIW, this is the feeling with almost everyone I consider smart and informed in the crypto community.

To my surprise, I got an answer to the previously linked tweet, from none other than Fred Wilson himself.

I’ve revered Fred for most of my life, and have been extremely impressed with his ability to grasp new trends and get conviction on them, so I have nothing but respect for the man,

But the answer wasn’t really too convincing this time around.

Fred answered linking to a blog post from Albert Wenger (another of my favorite people) where he basically argues that we should encourage different ways of pursuing a path to a decentralized future. Some will do it with ICOs for new protocols and some will do it with ICOs for current networks.

My view is that we can accelerate towards a decentralized future without VCs offloading their venture risk to the public.

Companies with existing user bases should absolutely experiment (because let’s remember that here no one has a clue what they’re doing, we’re all just experimenting) with tokens, but they can very effectively and much more safely do that without having people buy them.
They can just give them out to incentivize specific actions or assign monetary value to specific and previously un-valued transactions of any sort.

I think it’s dishonest to not address this point and carry on like ICOs are a must if you want to introduce a token. They aren’t.

And Fred very well knows this. His only argument on this is that these companies have heavy burns because of their large audiences.
Was really surprised to get this type of answer from someone like Fred. Might start believing they actually think that it’s ok because they have a lot of costs.

In a chat with Joe Urgo of district0x he provided a very interesting completely alternative idea to mine, saying that this is the only right behavior.

“Like he says in his follow up tweet, necessity is the mother of invention. Like we were talking about the other day, these companies are dead in the water as is, so they need to try something. I don’t know that I could call what they are doing dangerous at all, they are being prudent, they are advising their dying investments to take a hail mary and at least try to make something work.

If VC firms know this is a viable option at the moment (which they all should), then it could be argued that _not_ advising companies in similar boats to do the same is dangerous. It shows they are more worried about reputational blowbacks to them than in helping their companies succeed.”

I guess only time will tell.

For now, I’m still only writing checks for core cryptographic protocols whose usage is directly linked to the value of the token and still advising anyone which does not have a core need or use for a token to 1) not use one and 2) if they really must, then most definitely don’t do an ICO but just introduce it gradually, test, learn and think about the future repercussions of their actions.

📌 Token Economy

If I’d Known What We Were Starting

An absolute gem from the #3 Bitcoin user, after Satoshi and Hal Finney. I don’t think it deserves a tl;dr because you need to read this now.

Developers Complete First-Ever Atomic Swap Between Litecoin and Decred

Another week, another major milestone for crypto.

If you’re tired of ICOs, this is the news you’re looking for.

Decred and Litecoin developers have successfully completed an Atomic Swap, according to a tweet from the Decred team.

An atomic swap is basically a ShapeShift-like transaction that happens automatically, on-chain.

Unfortunately there hasn’t been too much disclosed on how it actually happened, so we will have to wait to see how it impacts projects like 0x and Kyber.

The first thought here, is that atomic swaps will be better than using a DEX protocol or platform, BUT they won’t have relayers and order books to organize liquidity.

Another thing to add to the “super interesting to think about” stack.

Markowitz portfolio optimization for cryptocurrencies in Catalyst

Very cool article by a former Mexico Central Bank portfolio manager, now an MBA candidate at Sloan, on how to apply portfolio optimization based on standard MPT to crypto portfolios.

The author uses Enigma’s Catalyst platform (a platform to run micro crypto funds using data shared on the Enigma network).

Accelerating Evolution Through Forking

In a follow up post to his excellent funding protocol development through inflation, Fred Ehrsam elaborates on the value of (hard) forks as an evolutionary mechanism for blockchains.

Fred make strong argument for redistribution of tokens at forks (which rarely happens) to ensure incentives are fully aligned, by switching control of foundation-like tokens and diluting all token holders to make grants for the developers leading the fork.

Bitcoin Developers Reveal Roadmap for ‘Dandelion’ Privacy Project

I’m not going to link to the actual BIP thread because it’s too complicated, BUT I think this is interesting.

There is a team that is working on a BIP called Dandelion which would add a privacy layer on top of Bitcoin transactions by removing the ability to find out the IP from the transactions.

The solution is a sort of TOR for Bitcoin.

This is interesting because many of the Bitcoin monitoring tools sold to governments and police around the world use this specific “feature” of the network to identify users.

The race for privacy coins is on, and with Ethereum enabling zk-snarks and Monero’s price rise + ZCash constant development, I don’t really see a future for non-private-by-default coins.

Ethereum’s Metropolis Hardfork Activated on Testnet, a Zcash Transaction Verified

Byzantium, the first part of Ethereum’s Metropolis hardfork, is live on testnet and it was just used to verity a zk-snark transaction.

Zooko also wrote about this from Zcash’s side.

So cool to see core technology advancements go this fast, in a sea of ICO scams.

This is where the future is.

Ethereum founder Vitalik Buterin discusses initial coin offerings, the consensus algorithm, and the most interesting apps

Every day I grow more convinced that our generation’s Steve Jobs will be Vitalik.

“But whereas in bitcoin the protocol exists to maintain the currency, in ethereum, the viewpoint is much more that the currency exists to maintain the protocol.”

A great interview to read.

I am VERY excited about Ethereum, given the amazing pace of development. If my VC investment days have taught me something, seeing a project with this sort of public interest + quality fast code shipping, it’s not going to slow down any time soon.

Vitalik shares his top-three priorities for Ethereum’s development at the moment:
- PoS
- Scalability
- Privacy

🚀

Decentralizing Everything with Ethereum’s Vitalik Buterin | Disrupt SF 2017

25 minutes of Naval interviewing Vitalik.

Amazing background watching.

YC wants to let people invest in its startups through the blockchain

The title is a bit misleading, but Sam is apparently admitting to YC having done work to figure out its approach to ICOs.

In the last YC batch there were only 2 blockchain companies, but that might change with the next one.

We’ll keep an eye out.

An Alleged Ethereum Hacker Gave Back $3 Million And Nobody Knows Why

Well this is a weird one. Remember that CoinDash hack? (Where a bunch of people even suggested that it was an inside job..)

Apparently the hacker just sent back around $3M worth of Ether they stole form Coindash / to Coindash.

I don’t have any mental energy or cycles to spend on this one, so just presenting it like it is.

Announcing Ethereum & Litecoin vaults — Coinbase

FINALLY. This is my #1 favorite feature of Coinbase, but was only available for Bitcoin until this new release.

If you don’t have a hardware wallet, this is what you should be using.

Guide: Coin recovery tool — TREZOR

Every time someone improves on the UX of crypto usage, it’s awesome news.

In this case, Trezor has released some tools to enable the recovery of most erroneous transactions (when you send coins from specific chains to wrong chains or badly formatted addresses).

🚨 Growing pains

The FCA has spoken on ICOs

The UK Financial Conduct Authority (FCA) issued a brief statement warning consumers about the risks involved in ICOs, stating how some ICOs “fall outside the regulated space”, some don’t. Notable difference with US security law is that the UK does not have an equivalent to the Howey test.

On that note, if you are into security law and can bear with Preston Byrne’s marmot jokes, he’s meticulously dissected the FCA announcement here from the perspective on an English lawyer.

Of all the major regulators who have expressed views, the UK FCA appears to have taken the most light touch approach so far.

🤡 ICO Madness

Raiden ICO: Ethereum Scaling Solution to Launch Publicly Traded Token

“Ethereum’s answer to bitcoin’s Lightning Network will have one notable difference — a publicly traded token to be sold in a Dutch auction in October.”

This is a big disappointment for me, as I was really hoping that Raiden would launch without a token and bring Lightning-like capabilities to the Ethereum chain.

Too hard to ignore the millions flying around obviously.

Announcing the SpankChain ICO

I’ll try to not trigger the spam filters here, article is SFW, site is not.

Crypto bubble fears grow as Jamie Foxx, celebrities jump aboard

We’ve spoken about this before, but hopefully peak ICO is almost around the corner.

We wouldn’t be surprised if some of these celebrities are going to end up being prosecuted for the promotion of unregistered securities, insider trading, bribes and so on, as they most likely are receiving both cash and tokens, which they have an incentive to help appreciate in value.

🍿

Is There a Cryptocurrency Bubble? Just Ask Doge. — The New York Times

The NYT interviews the creator of Dogecoin, which has been sounding the alarm for a while now.

Blackmoon Crypto raises $20 million in ICO in 1 day, and $10M in pre-sale

The Blackmoon Crypto platform touts itself as “a one-stop solution for asset managers to create and manage legally-compliant tokenized funds”

😎 Cool new projects

FreeSociety

Roger Ver and a bunch of early Bitcoin millionaires (billionaires?) are planning to buy land and sovereignty over that land from a country. They have more than $100M, which they plan to offer to highly indebted countries to form a “new Monaco” of sorts. It needs to be in a safe zone and be accessible by water.

Libertarians at it again.

I was enamored with the Seasteading Institute efforts, but I’ve also grown more interested and appreciative of the roles that nation states play in our lives.

That being said, I’m all for experimentation in government and monetary policy, so I’m extremely excited by this!

I’m also pretty sure that we might be looking at another ICO here.. but hopefully they’ll just adopt Bitcoin as the national currency instead.

The Ocean Protocol

BigchainDB, in partnership with Dex, unveiled the concept behind the Ocean Protocol, the natural evolution of their work on blockchain + AI.

Ocean will be a protocol and network to facilitate data marketplaces. The protocol will have the role of figuring out who owns what and provide the linking infrastructure.

Data marketplaces have been a pretty obvious idea since the beginning of blockchain and smart contract technologies, so it’s exciting to see more people try to implement them.

Ocean will probably go on to compete with the Enigma network from MIT’s Media Lab.

Harvest — Wind energy used to mine cryptocurrency to fund climate research

“Harvest” is a piece of tech-art commissioned by the Konstmuseet i Skövde museum that uses wind energy to power a computer, connected to the internet via satellite or 4G and geared with an Nvidia graphics card, to mine Zcash. The earnings will fund for climate-change research.

The interesting aspect of this experiment is that crypto currency offers an alternative and decentralised way to ‘store’ energy without relying on a centralised grid and the fees typically incurred in transferring energy to it.

Announcing Balanc3: Quickbooks for Token Launches

Balanc3 — a ConsenSys formation — has been working in stealth for over a year to build out a blockchain-based accounting platform.

Super cool. They take live blockchain transaction data and turn it into accounting style data.
Sounds like the worst possible job to me, but really glad someone is doing it — I’m sure this will be massively useful to a number of projects in the future.

Ripio

RIpio is building a global credit network solution that aims to enhance transparency and reliability in credit and lending

😤 First they ignore you, then they laugh at you, then…

ECB’s Constancio compares Bitcoin to Dutch tulip mania

“Bitcoin is not a currency but a mere instrument of speculation”. “Bitcoin is sort of a tulip”.

They just don’t know when to stop the broken record do they?

Stay Away from Bitcoin, It’s an ‘Absolute Bubble’ Says Hathaway

This is just a gem to be added to the Bitcoin Obituaries, and I think we’ll be watching this again and again in a few years.

It’s still fascinating how some people just. do. not. get. it. and feel confident in dismissing the whole asset class and tech movement.

I just hope I’ll never end up making such comments about new technologies when I’m all grown up. Chances are slim unfortunately 😂

Russian Governor Invites Cryptocurrency Miners to Set Up Mining Farms in Leningrad

The regulatory and geopolitical wars (protocolitics as Yannick coined them) continue!
The Russian Leningrad region wants to create an industrial park for cryptocurrency mining including bitcoin.
They are promising cheap energy and some special conditions, to try and attract maybe even some of the Chinese operators.

JPMorgan Chase boss Jamie Dimon faces market abuse report after his comments about bitcoin

Fun times!

Blockswater, an algorithmic liquidity provider, has filed a market abuse report against Jamie Dimon for “spreading false and misleading information” about bitcoin with the Swedish Financial Supervisory Authority.

They say Dimon violated Article 12 of the European Union’s Market Abuse Regulation (MAR) by declaring that cryptocurrency bitcoin was “a fraud”.

They also say that JPM traded BTC derivatives in Stockholm, so they might actually have a real case.

The SEC Got Hacked, Took A Year To Learn People Might’ve Traded On It, Disclosed These Facts Parenthetically In A Bizarre Statement, And Wants Companies To Do None Of These Things

On the internet, everyone gets hacked.

🤑 VC corner

Balderton leads $9 million Series B in Luno

We humbly admit we had not come across Luno before, and praise Nicolas Debock from Balderton for keeping his lips sealed about it at the Venture Retreat last weekend…

The play here is the global mass market adoption of crypto and the need for user friendly front ends for fiat to enter the ecosystem.

💰 New funds

Linda Xie leaves Coinbase to start a yet unnamed crypto-fund

Coinbase spins out crypto fund managers faster than it resolves support tickets.

After Nick Tomaino (1Confirmation) and Olaf Carlson-Wee (Polychain), Linda, former product manager, and Jordan Clifford, software engineer, join forces in yet another crypto hedge fund endeavour.

Steven McKie leaves Purse to start crypto hybrid hedge/venture fund Amentum

Author of Blockchannel podcast and former head of growth at Purse and more recently decentralised-Quora Cent.co, Steven McKie is teaming up with three other partners with a new crypto fund endeavour. Focus will be on public crypto assets as well as ICO pre-sales, with no info yet on fund size and other other GPs.

Steven is a true crypto-native so we very much look forward to finding out more about what he’s been cooking up, we hope it’s not just about muscling in on pre-sale discounts and buy & hold ETH/BTC!

More info soon, we are promised.

ℹ️ About us

Token Economy is written and curated by Stefano Bernardi and Yannick Roux.

If you’re building a new fundamental piece of technology for the future, please reach out 🤙

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman.

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman. Platform verif-y memungkinkan untuk proses verifikasi identitas digital secara dan aman.
Verif-y mempersilahkan kepada anda untuk pembuatan secara individu, hub digital sangat aman dari latar belakang anda dan dapat di akses ke perangkat anda di saat itu juga.

Verif-y menggunakan metodologi Next-Generation Defense-in-Depth untuk mendukung dan memastikan validasi end-to-end pertama di bidang pendidikan, pekerjaan, lisensi, sertifikasi dan kepercayaan keanggotaan dan identitas digital yang dihasilkan. Kekuatan identitas digital yang dihasilkan oleh proses Verif-y tinggi, mengingat identitas itu dihasilkan secara organik — terdiri dari data identifikasi unik, disimpan di blockchain dan menghasilkan paradigma baru untuk menyimpan dan mengakses PII secara aman. Identitas digital baru ini kemudian dapat digunakan untuk tujuan identifikasi di luar pasar ketenagakerjaan dan pendidikan, seperti otentikasi login online, identifikasi formal (ID), akses fisik dan banyak lagi aplikasi.
Aplikasi Verif-y dan platform pendukungnya telah berjalan sejak April 2017 dan tersedia untuk diunduh di perangkat iOS dan Android.
Karena identitas adalah salah satu pilar implementasi blockchain yang sukses dan ada di mana-mana di banyak industri, solusi identitas Verif-y yang sangat kuat dan terdiferensiasi dapat menjadi bagian penting dari transformasi fundamental global ini.

Seiring berjalannya waktu melalui kehidupan kita, kita terus-menerus menghadapi situasi di mana kita perlu memberikan informasi tentang sejarah kita. Kami menyadari bahwa cerita ini biasa dilakukan oleh semua orang yang mencari pekerjaan, berlaku untuk pembiayaan atau kebutuhan untuk membuktikan status pekerjaan mereka. Kami juga menyadari bahwa sebagian besar informasi yang digunakan untuk mengevaluasi keaslian keuangan, pekerjaan atau kredensial kami tidak berada dalam kendali kami. Verif-y diciptakan untuk mengubahnya — kami ingin pengguna memiliki informasi mereka dan memutuskan siapa yang dapat melihatnya.
Verif-y berkomitmen untuk memastikan integritas data dan keamanan serta privasi pengguna kami.
Beberapa fitur keamanan kami meliputi:
Autentikasi multi faktor
Sambungan Socket Layer aman (SSL)
Enkripsi dokumen dan teknologi integritas
24 jam dimonitor keamanan fisik
Deteksi gangguan
Teknologi Blockchain Terpadu

Platform Verif-y menerima upload kredensial terverifikasi dari lembaga pemberi penghargaan dan menempatkannya di gudang pengguna yang sesuai. Pengguna mengontrol siapa yang dapat melihat kredensial terverifikasi mereka dan menentukan bagian repositori mana yang akan tersedia.
Mengapa menggunakan Verif-y?
Verif-y memberi individu keunggulan kompetitif di pasar kerja, karena pengguna dapat memberikan kredensial dan riwayat pekerjaan mereka yang diverifikasi secara independen langsung ke pemohon kredensial, seketika dan aman.

Token

40% token akan tersedia untuk pendanaan ICO
25% token di gunakan untuk pemasaran, adopsi dan promosi
35% token akan di simpan dan di gunakan di masa depan.
dari persentasi token yang di gunakan di masa depan (35%) akan di bagi menjadi 3 bagian.
20% akan tersedia saat ini
40% akan di kunci selama 12 bulan
40% akan di kunci selama 24 bulan

Pre-Sale di mulai pada tanggal 14 September 2017
Crowdsale di mulai pada tanggal 5 Oktober 2017

Team

Penasehat

informasi lebih lanjut

Whitepaper : http://www.verif-y.io/vfy-white-paper-1.0.pdf
Email : information@verif-y.io
Telegram : https://t.me/VFY_TOKEN
Facebook : https://www.facebook.com/VerifyInc
Twitter : https://twitter.com/YVerif
Discord : https://discordapp.com/channels/354707646802165760/354707646802165761
Slack : https://verif-yworkspace.slack.com/messages/@slackbot
Linkedin : https://www.linkedin.com/company-beta/10299069
Youtube : https://www.youtube.com/channel/UCSOKTOvp02uSGEuaTBkiaug/videos
Thread resmi : https://bitcointalk.org/index.php?topic=2177914.0
Thread bounty : https://bitcointalk.org/index.php?topic=2181617.0

my profil bitcoin(sabqie) : https://bitcointalk.org/index.php?action=profile;u=1151158

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman.

VERIF-Y adalah pelopor dalam pembuatan dan pengelolaan pengguna dan identitas digital secara aman. Platform verif-y memungkinkan untuk proses verifikasi identitas digital secara dan aman.
Verif-y mempersilahkan kepada anda untuk pembuatan secara individu, hub digital sangat aman dari latar belakang anda dan dapat di akses ke perangkat anda di saat itu juga.

Verif-y menggunakan metodologi Next-Generation Defense-in-Depth untuk mendukung dan memastikan validasi end-to-end pertama di bidang pendidikan, pekerjaan, lisensi, sertifikasi dan kepercayaan keanggotaan dan identitas digital yang dihasilkan. Kekuatan identitas digital yang dihasilkan oleh proses Verif-y tinggi, mengingat identitas itu dihasilkan secara organik — terdiri dari data identifikasi unik, disimpan di blockchain dan menghasilkan paradigma baru untuk menyimpan dan mengakses PII secara aman. Identitas digital baru ini kemudian dapat digunakan untuk tujuan identifikasi di luar pasar ketenagakerjaan dan pendidikan, seperti otentikasi login online, identifikasi formal (ID), akses fisik dan banyak lagi aplikasi.
Aplikasi Verif-y dan platform pendukungnya telah berjalan sejak April 2017 dan tersedia untuk diunduh di perangkat iOS dan Android.
Karena identitas adalah salah satu pilar implementasi blockchain yang sukses dan ada di mana-mana di banyak industri, solusi identitas Verif-y yang sangat kuat dan terdiferensiasi dapat menjadi bagian penting dari transformasi fundamental global ini.

Seiring berjalannya waktu melalui kehidupan kita, kita terus-menerus menghadapi situasi di mana kita perlu memberikan informasi tentang sejarah kita. Kami menyadari bahwa cerita ini biasa dilakukan oleh semua orang yang mencari pekerjaan, berlaku untuk pembiayaan atau kebutuhan untuk membuktikan status pekerjaan mereka. Kami juga menyadari bahwa sebagian besar informasi yang digunakan untuk mengevaluasi keaslian keuangan, pekerjaan atau kredensial kami tidak berada dalam kendali kami. Verif-y diciptakan untuk mengubahnya — kami ingin pengguna memiliki informasi mereka dan memutuskan siapa yang dapat melihatnya.
Verif-y berkomitmen untuk memastikan integritas data dan keamanan serta privasi pengguna kami.
Beberapa fitur keamanan kami meliputi:
Autentikasi multi faktor
Sambungan Socket Layer aman (SSL)
Enkripsi dokumen dan teknologi integritas
24 jam dimonitor keamanan fisik
Deteksi gangguan
Teknologi Blockchain Terpadu

Platform Verif-y menerima upload kredensial terverifikasi dari lembaga pemberi penghargaan dan menempatkannya di gudang pengguna yang sesuai. Pengguna mengontrol siapa yang dapat melihat kredensial terverifikasi mereka dan menentukan bagian repositori mana yang akan tersedia.
Mengapa menggunakan Verif-y?
Verif-y memberi individu keunggulan kompetitif di pasar kerja, karena pengguna dapat memberikan kredensial dan riwayat pekerjaan mereka yang diverifikasi secara independen langsung ke pemohon kredensial, seketika dan aman.

Token

40% token akan tersedia untuk pendanaan ICO
25% token di gunakan untuk pemasaran, adopsi dan promosi
35% token akan di simpan dan di gunakan di masa depan.
dari persentasi token yang di gunakan di masa depan (35%) akan di bagi menjadi 3 bagian.
20% akan tersedia saat ini
40% akan di kunci selama 12 bulan
40% akan di kunci selama 24 bulan

Pre-Sale di mulai pada tanggal 14 September 2017
Crowdsale di mulai pada tanggal 5 Oktober 2017

Team

Penasehat

informasi lebih lanjut

Whitepaper : http://www.verif-y.io/vfy-white-paper-1.0.pdf
Email : information@verif-y.io
Telegram : https://t.me/VFY_TOKEN
Facebook : https://www.facebook.com/VerifyInc
Twitter : https://twitter.com/YVerif
Discord : https://discordapp.com/channels/354707646802165760/354707646802165761
Slack : https://verif-yworkspace.slack.com/messages/@slackbot
Linkedin : https://www.linkedin.com/company-beta/10299069
Youtube : https://www.youtube.com/channel/UCSOKTOvp02uSGEuaTBkiaug/videos
Thread resmi : https://bitcointalk.org/index.php?topic=2177914.0
Thread bounty : https://bitcointalk.org/index.php?topic=2181617.0

my profil bitcoin(sabqie) : https://bitcointalk.org/index.php?action=profile;u=1151158

Hydrominer, empowering small investors to join and invest in cryptocurrency mining by utilizing…

Hydrominer, empowering small investors to join and invest in cryptocurrency mining by utilizing green-energy!!!

The crypto space has in the past been characterized by a lot uncertainties and cautiousness. This pushed many people to lose whatever little faith they had in cryptocurrency. Worse were the discussions that poked holes in the longevity of the currency for trailing in the energy sector.
To tackle the challenge, hydrominer company decided to step in and instead use green energy to generate the power we needed to get into the mining business.

EXTRACT
HydroMiner is a Cryptocurrency Mining company which refers to its green electricity from hydropower plants in the Alps. Hydropower is generally regarded as one of the most effective and cheapest sources of renewable energy. It is environmentally friendly, carbon neutral and natural. Hydropower makes it possible to manage the resources sustainably and allows production with little emissions. In addition to its environmental friendliness, hydropower mining is also profitable. Expected ROI = 8 months

Why Hydrominer?

Eco-Friendly
Hydro power is among the most environmentally friendly and efficient ways to generate electricity.
Cost Effective
By placing our mining equipment directly in hydro power stations in the Alps region, we have access to up to 85% lower energy prices than European average.
Profitable
We continually optimize our mining equipment and strategy to be among the industry’s most profitable.
It is believed that hydrominer will empower small investors to join and invest in cryptocurrency mining by utilizing green-energy.

ICO/TOKEN SALE EVENT

Why an ICO?

The Initial Coin Offering (ICO) is designed to scale the mining operation. This is achieved by the acquisition of more hydroelectric power plants, which again allow mining in a larger style, as well as larger profits for investors. The H2O tokens sold in the ICO allow investors to benefit from the mining operation. 80% of the profits are distributed to owners of the H20 token, 10% to the HydroMiner team, while the remaining 10% are used to buy H20 token at the ICO price.
Furthermore, the HydroMiner team will:
Order mining equipment
Compile hardware
Maintain and renew hardware
Find and rent new hydropower plants

The HydroMiner project and ICO are more than an idea — the managing sisters have already rented hydro power stations. This initial coin offering is about scaling the mining operation by acquiring more hydro-power-plants and thus enabling eco-friendly mining and profits for investors.
More Info about the in coming ICO can be found HERE>>

Presale is scheduled to start on 25th September, 2017 and mainsale will start on 3rd October, and then from January 2018, continuous buying process of mining capacity would be put in place which is where the project becomes fully fledged and would be known to provide mining capacity to individauls who are ready to buy and mine virtually.

The token sale period would be be held in different apparently 4 weeks with bonus indicated in the above image.
To read more on tokensale even, please visit token dale site at https://www.hydrominer.org/token-sale/
Again, from the image, it could be noticed that presale has the largest bonus. Three days to enter presale week so it would be nice to get yourself prepared for the highest bonus.
Also bear in mind that the accepted cryptocurrency is ethereum
RUN FOR YOUR 25% BONUS ON 25TH SEPTEMBER @ https://www.hydrominer.org/token-sale/, GET LIVE UPDATE OF ICO AS WELL.

The project is backed by personalities who have experience in the crypto-mining world.

My name is Nadine Damblon, and I’m the CEO of the HydroMiner operation. Via this post, I want to welcome you to our website and showcase you a little bit more about our mining venture.
I built the first mining rig together with my sister — Nicole — in 2014. Thanks to the increasing prices of nearly all cryptocurrencies, pretty much all mining operations have been very successful. In 2016, we founded the HydroMiner project, but made it only available to our family and closest of friends. With the money, we set up our rigs in data centers.

Full list of team Members can be viewed at https://www.hydrominer.org/team/

Hydrominer team doesn’t see only crowdsale as a way to success, they have set aside a percentage of the their tokens to be given out for free for promoting the project. If interested in promoting hydrominer, please go to the bounty site at https://bitcointalk.org/index.php?topic=2188869.0 and read the info about the bounty. THe rules are easy to comply with.

IMPORTANT LINKS OF THE PROJECT
OFFICIAL WEBSITE: https://www.hydrominer.org/
OFFICIAL TOKEN SALE: https://www.hydrominer.org/token-sale/
OFFICIAL TWITTER: https://t.me/Hydrominer
OFFICIAL FACEBOOK: https://web.facebook.com/hydrominer/
OFFICIAL TELEGRAM: https://t.me/Hydrominer
OFFICIAL LINKEDIN: https://www.linkedin.com/company-beta/18204467
OFFICIAL BITCOINTALK ANN THREAD: https://bitcointalk.org/index.php?topic=2188866.msg21972430#msg21972430

This week in Financial Technologies — Sept 23, 2017

In my series on Emerging Technologies today I am looking at the major financial technologies news this week.
We have studies and reports out this week that are worth a look.
The first one is about China. The EY Adoption Fintech report, shows that China has outperformed other countries in financial technology (fintech) services adoption and what is happening in China indicates the global trend of the emerging industry, U.S. experts say. “The work in China has been dramatically ahead of anywhere else in the world,” said Jim Bruene, founder of Finovate conferences, which showcase cutting-edge banking and financial technology. With more intelligent, in-context financial services, especially commerce activities built around social media applications, “China is likely five or six years ahead of the United States. The US is at 33% behind Mexico and Spain and France sits at 27%. Japan and Canada lags at 14 and 18% respectively.

Source: EY

The average usage of Fintech solutions by US consumers is somewaht confirmed by a study from Barazza Associates. Barazza launched a survey with 1,000 U.S. consumers, and investigated consumers’ opinions about banking institutions, various payment solutions — online, contactless, peer-to-peer — and the emerging areas of online lending, investing, and personal financial management. The results are interesting.
With no surprise, usage of Apple Pay, Android Pay or Samsung is strong among Millennials. Approximately 25% of people 25 to 34 year olds used these payment solutions in the past 30 days. What’s notable is how fast usage decreases when age increases.. For example, usage was 18% among 35 to 44 year olds, and nearly twenty percentage points lower among consumers who are 45 and older, a mere 5% usage. And, while overall usage is high among Millennials, they’re not using the solutions very often for making purchases at brick & mortar locations. At first glance, the average number of purchases (9) made with Apple Pay in the past 30 days is encouraging. However, this figure appears to be skewed due to a small number of “heavy users”. When we conducted a more realistic assessment by calculating the median, it resulted in a metric of only 4 purchases made during the past 30 days (regardless of which mobile payment solution used). The low number of purchases doesn’t appear to be due to an issue with the solutions themselves, as consumers are very likely to recommend each brand (as measured by NPS, i.e., Net Promoter Score).

So the japanese are reacting.
On Wednesday at the New York Stock Exchange, Japanese Prime Minister Shinzo Abe said the government was moving forward with a plan to roll back regulations on some fintech startups to help spur the development of emerging technology and drive growth in the country. “When one wants to conduct a world-first trial, such as with new financial services made possible through fintech, it is impossible to predict the sort of regulations with which the trial will come into conflict,” Abe said. As such, Abe is pushing for a regulatory sandbox program that would allow fintechs, startups looking to automate or digitize aspects of financial services, to operate and scale without meeting existing regulations. “We will make a sandbox in which it is possible for certain participants to conduct trial and error freely on new business for a certain period of time without conforming to existing regulations,” Abe said
And Mobile payment is no were ready to get close to emerging markets levels in the US. China’s digital-payments market, by far the world’s largest, is dominated by e-commerce giant Alibaba Group Holding Ltd. and social-media champ Tencent Holdings Ltd. Now the two are imparting money and know-how to mobile-money startups in other Asian markets, from Indonesia to India. As people across Asia increasingly move from cash to smartphone apps for buying goods and transferring money between individuals, U.S. firms are “still very focused on their home market,” trying to increase usage there, said Shiv Putcha, an analyst at research firm IDC in Mumbai.

Source: WSJ
China is a few years ahead of us” and working with Alibaba is “sort of our university, said Amit Sinha, chief operating officer of Paytm’s e-commerce marketplace.

And if we had any doubt about how dynamic the Chinese fintech market is. Just look at China’s first internet-only insurer which just priced 199.3 million new shares at HK$59.70 ($7.65) each, the top of a HK$53.70-HK$59.70 range. ZhongAn, founded by Alibaba Group Holding Executive Chairman Jack Ma, Tencent Holdings Chairman Pony Ma and Ping An Insurance Group Co of China Chairman Ma Mingzhe, will debut on the Hong Kong stock exchange on Sept 28. Japan’s SoftBank Group Corp agreed to buy a total stake of just under 5 percent for about $550 million in ZhongAn as part of the IPO, the deal’s prospectus showed. The company will be raising $ 1.5bln.

Spotlight of the week: Initial Coin Offerings:

The meteoric rise of ICOs — Forbes
ICO’s raised a record rate of $797 million in the second quarter of 2017, according to CoinDesk’s State of the Blockchain report.

The good, bad and ugly sides of ICOs — Coin Telegraph

What is an ICO — Recode — Bloomberg

The technology, benefits, risks and regulatory measures you need to know about ICOs now — Techcrunch

A japanese perspective: ICOs: dream for startups, nightmare for regulators — Asia Nikkei

Cool Fintech readings for the week end:

  • The rapid elimination of physical money in all segments — around the world: Banking, Capital Markets, Insurance, Retail as well as B2B Commerce and so many others. Marlin Fintech Market Update
  • -FT Partners CEO Steve McLaughlin talks about the opportunities in fintech. Knowledge Wharton
  • Trade organization aims to cement Detroit as a hub for financial technology- PR Newswire
  • Live digital or die — The digital challenges that ETF sponsors and service providers must confront — PwC

Let me know your thoughts in the comments.

Thanks

Melvin Manchau is a management consultant specialized in business operations, technology and strategy for financial institutions. The views expressed here are his and do not represent the views of PwC.

A taxi for taxi

As long as uberization (connecting providers of service and customers directly, through online services) takes over more and more new markets, the uber-idea itself also undergoes changes. We learned from Taras Semenov, CEO of the CarTaxi project, how the blockchain technology makes it possible to improve uber models.

- What are the advantages of the blockchain platform?

- A little about the basics. A large number of new projects aimed to automate various sectors of the economy today rely on the blockchain. At the dawn of the development of blockchain technology in Russia, German Gref, Elvira Nabiullina, and Igor Shuvalov immediately drew attention to it. Blockchain can become a tool for economic growth. This is a functional innovation that will affect many areas and will replace the centralized management system. The principle of “one window” is not in vain considered as an advantage in the services industry: society is tired of red tape and waiting in lines. Blockchain is one window in which all transactions that pass through it are registered reliably and transparently. Blockchain is called a decentralized system because data is recorded simultaneously on a variety of computers around the world, and therefore they can not be faked and deleted. A centralized control system, already familiar to us, loses in many ways to a new way of managing data. First, all operations and documents are registered by people and stored in special registries, pass several stages of data transfer between people, units and companies. Time is spent on verification and confirmation. This is much longer than creating a record in the blockchain, which will take several seconds. Secondly, in such a system errors in the transmission of information are inevitable due to the influence of the human factor. Thirdly, it is vulnerable: registries and databases are subject to hacking, the data in them are not always encrypted and can become the target of intruders. In addition to all of the above, the centralized system of operations management can now be considered expensive, as it requires high labor costs and material security, the need for which is lost when using blockchain.

- And if you connect uberization and blockchain, what will happen?

- In businesses based on blockchain technology, decentralization is manifested in simultaneous registration and storage of data on a variety of computers around the world. Thus, a single database appears, which is reproduced simultaneously for all network members. The principle of decentralization in this case provides a guarantee of data security and access to data for participants in operational activities. First, this advantage is appreciated by companies in the finance industry.

- You yourself work on the principle of Uber, but instead of a taxi a tow truck comes …

- Yes, if your car broke down you do not need to wait any longer, plus the approximate cost of the order is immediately visible. This service is available in all the cities of presence through one mobile application. When a car owner opens the application, available tow trucks are already visible on the map, ready to come to the rescue. To order, you need to enter data about your car, damages and put the point on the map where the car needs to be delivered. The current location is determined automatically. Based on the parameters (load capacity, clearance, availability of blocked elements), the platform determines the suitable tow truck. With the help of geolocation, the movement of the tow truck can even be monitored on the map. In this case, drivers of tow trucks receive payment based on a single tariff. Commission of CarTaxi is 15%. However, for the client, such payment is overwhelmingly cheaper than an order from a car towing company directly. The main factor of the high price in the second case is the remoteness of available tow trucks from the car owner and the cost of resources for the “idle run” of the equipment. Finding the nearest tow truck by contacting a call center in an unfamiliar location is almost impossible without a special service. CarTaxi acts as a logistics intermediary between the client and the performer. And the wider the network of performers in CarTaxi, the more universal the service becomes. Today, the number of cities in which we work exceeds 40 and is constantly growing. We reached this coverage in three months. In the near future, the project will expand to the US and China, and then to other countries. Global coverage for CarTaxi users will provide transportation of the car abroad through the usual convenient interface and with uniform tariffs. And in the fourth quarter of 2017 on the CarTaxi platform, we planned to activate the blockchain technology based on the Ethereum smart contract.

Blockchain in CarTaxi allows you to keep a clear account of the performers’ balances and payments to them for services. It stores the entire history of orders with their parameters. Accordingly, a transparent system is created to monitor operating activities and revenues by all stakeholders (including investors). We have provided the following scenarios for the use of a smart contract: registration of accounts of performers and partners, as well as clients; creating an order and managing its life cycle; mutual settlement with performers and partners; repurchase of tokens by the company, payment of dividends to tokenholders. Let’s sum it up so that there is no confusion: Uber is our model of order distribution. A blockchain is a system of building our records. All information about orders assigned and executed, their parameters, and calculations is recorded there. This is the basis of our CRM (customer relationship management) and PRM (partners relationship management).

- What are the prospects for the car market, if it is more important for people to get to places, no matter if they use their own car or not?

- Analysts tend to believe that the automobile market will grow by 3–5% per year. So, the question of servicing this market is relevant. And we are seeing an increase in the number of popular services for drivers. However, so far most of them are local, that is, cover only one region. For example, there are a number of applications that aggregate car servicing. In 2017, CarFix expanded the number of services provided within the application framework. In addition to the fact that you can find a car repair shop at home and save 20–40% on car maintenance, the application reminds the driver of the need for repair, takes into account the wear and tear of parts and picks up the car service on request. Among other services for drivers is “MultiGO Fuel” with detailed information about refueling (location, discounts, prices), Fast and Shine, which calls a car wash in the necessary place and so on.

- I’m getting an impression that if you also apply blockchain, you can uberize any task …

- This is a big question — is it possible to uberize all spheres. The good market must correspond to a number of parameters. In particular, the pool of both customers and performers should be quite extensive, and the service itself should be formulated simply. For example, “To get from point A to point B or buy a plane ticket from point A to point B”.

Link to the source: http://ponedelnikmag.com/post/taksi-dlya-taksi

Home - CarTaxi

Four Challenges to Consider When Launching Your Fund Raise on the Blockchain

ICOs (Initial Coin Offerings) or token sales have seen a dramatic increase over the past year as a method for raising capital. According to CoinMarketCap, Bitcoin market capitalization sits at around $70 billion at the time of writing (even after the China ICO market correction), up from $11 billion in June 2016. Overall, the cryptocurrency market cap is now over $150 billion, roughly the size of Algeria or Iraq’s GDP.

Many organizations have, therefore, become interested in using token sales (aka ICOs and token generation events) as a way of raising capital. Mostly, companies look at token sales as a way to raise startup capital; they issue “utility tokens” to avoid being classified as a security. This method is in line with traditional “crowdfunding” that companies have been doing for many years.

I also believe there is a lot of pent up demand from traditional asset classes and established companies to utilize the blockchain to raise capital and conduct their business. This is because there are a many benefits for both the issuer and the investor.

For the issuer, it’s a frictionless process of raising capital that opens up a global market of potential investors. Costs of raising capital via this process can be a fraction of what it may cost to address the same size market with a traditional raise.

For the investor, it provides access to a wider range of investment opportunities, which a regular person may never otherwise have access to. Typically, there are zero or very low investment minimums, and one can easily participate in a token sale anywhere on the globe — just set up a wallet, buy some bitcoin or ether, and get in on time. As a bonus, there’s also often the existence of a secondary market where tokens can be traded after the initial token sale, thus providing fast liquidity to those that desire it.

However, the process is not without its challenges, and there are several things to consider when launching your next fund offering on the blockchain.

What are traditional asset classes and why may a blockchain be of benefit to them?

Traditional asset classes are those that generally come up when people talk about investments. They include stocks, commodities, real estate, private equity funds and derivatives, VC funds, REITs and others.

Most, if not all, traditional assets would fall under the SEC’s definition of a security,as stipulated by the Howey test. However, due to the decentralized nature of blockchains, the U.S. is not the only jurisdiction where tokens can be sold from; many countries around the world such as Switzerland, Cayman Islands, Estonia and others are stepping up to welcome ICOs, be they utilities or a securities.

So, how is blockchain technology and tokenization beneficial to traditional asset classes? Consider this example based on the logic illustrated by Stephen McKeon. If we take real estate as an example, it’s estimated that the size of commercial real estate in the U.S. alone is about $11 trillion. Let’s say 10 percent of that can be tokenized; that immediately puts over $1 trillion of liquidity back into the marketplace and removes an “illiquidity premium” which issuers are forced to pay because investors have no way to exit their investment for a number of years. This is a win-win for both the issuer and the investor.

Challenge #1 — Jurisdiction

Even if one decides to tokenize an existing asset, there are several challenges that must be addressed, and finding the right home for your fund is key. Since most traditional assets may be considered a security, finding the right jurisdiction will be very important during and immediately following your token generating event. Let’s take a look at some of the options available to us today.

The State of Delaware has a newly invoked law that will allow businesses to maintain shareholder lists and other corporate records on the blockchain. This move is even more significant when you consider that this jurisdiction is the corporate domicile capital of America, with 66% of Fortune 500 companies calling it home. If your plan is to make token holders Limited Partners or equity holders of your new fund, this may be a reasonable option.

Also in the U.S., Regulation A, Regulation A+ and Regulation D contain rules that could exempt entities selling securities from registering with the SEC, including a specific look at equity crowdfunding. These rules can be applied to any crowd sale, and potentially encompass token sales as well. It’s also possible to raise under Regulation S, which would exclude U.S. investors altogether, thereby removing the need for protection of unaccredited investors.

Switzerland, one of the leading centers of capital in Europe and known for recently abolishing its banking secrecy laws, has become a fintech hub and is considered a friendly jurisdiction. A number of leading Swiss companies have formed an alliance called Crypto Valley, where one of the most prominent law firms, MME, hosted a recent conversation about the legalities of token sales and what may constitute a security under Swiss law.

The Cayman Islands, a leading offshore jurisdiction with a 0 percent tax rate for foreign-controlled companies, have seen an uptick in ICOs lately. Recent token sales events from the Caymans include EOS, Domain Developers Fund and others. The Cayman Islands and other offshore jurisdictions have taken a friendly view on blockchain assets and have the service provider infrastructure in place, with lots of experience creating and operating traditional funds. I believe incorporating in the Caymans and other offshore jurisdictions have many benefits and is a practice that will continue to increase.

Estonia is another interesting example of a jurisdiction where several ICOs — which would almost certainly be considered securities in the U.S. — have been domiciled. Recently, Agrello, Polybius and a number of other companies completed successful token sales. Estonia is unique because of its e-government initiatives, which encompass e-citizenship, e-voting, e-tax and government blockchains. Further, Estonia recently announced its own cryptocurrency called Estcoin. Estonia currently doesn’t regulate crowdfunding (though some EU laws may apply) and is one of the top friendly jurisdictions for launching tokenized funds.

Challenge #2 — Knowing Your Customer

Another roadblock to conducting legal and compliant token sales is the issuer’s ability to follow KYC and AML regulations effectively. KYC (Know Your Customer) is the method in which issuers verify the identity of its investors. Many cryptocurrencies of choice for token generation events have anonymity features built in (cryptocurrencies such as Monero and Zcash are prime examples, and bitcoin can be anonymized as well). Further, the crypto investment community likes the idea of not having to go through lengthy and intrusive KYC processes. This practice doesn’t bode well for the issuer, however, since KYC is a key requirement for many banks. Strong KYC during the token generating event will make it easier to work with banks and follow AML (Anti Money Laundering) regulations.

Challenge #3 — Tax, Compliance and Custody

There are further complications with taxes, compliance and custody. There are not yet clear standards for cryptocurrency compliance to be followed. Further, if your fund is going to be holding crypto-assets and cryptocurrencies, security and custody needs to be considered. Luckily, there are some players such as Gemini that offer crypto-custody services; some reputable banks such as the Swiss Falcon Private Bank are also starting to offer bank-level cryptocurrency trading services. There are still more challenges around custody and compliance for altcoins.

On the tax side, there are open questions about treatment of virtual currencies. IRS guidance 2014–12 classifies cryptocurrencies as an asset class, imposing capital gains taxes on profits in certain situations. Some other countries such as Vietnam have proposed making digital currencies like bitcoin a form of currency. The world tax authorities still need more time to figure out how to tax this new asset class.

Challenge #4 — What Happens Next?

Once you’ve jumped through a lot of hoops and successfully executed a tokenization event for your fund, the real work starts. If you accepted U.S. investors, think about how you can prevent them from selling your tokens in the first 12 months (if you raised under Regulation D). If you didn’t accept U.S. investors, how do you prevent them from buying your tokens in the future? What exchanges do you want to list on to make sure you can comply with AML and other regulations? This is a complex process that needs to be thought of before you start planning your token generation event.

Looking to the Past

Launching a tokenized fund on the blockchain is a relatively new concept; however, we have some successful precedents. The biggest and most interesting example is Blockchain Capital, founded by Brock Pierce. Their token, BCAP, was sold under Regulation D exemption to 99 accredited U.S. investors (and unlimited foreign investors with many exceptions), who, per SEC regulation, can’t sell their tokens for 12 months. Blockchain Capital has a complex structure, with entities in Singapore, the Cayman Islands and the U.S. According to their memorandum, they spent up to 10 percent of their raise on legal expenses (they raised $10 million), which is a hefty sum. Also, questions remain: What prevents non-accredited U.S. investors from buying BCAP tokens post ICO? How are the 99 accredited investors forced to comply with the requirement to hold these tokens for the time allotted?

Conclusion

Launching token generation events for your fund can be a worthwhile activity, but you need to plan carefully and entrust your process to qualified professionals.

Some things to think about before going ahead with launching a tokenized fund:

  • Is your token a security (Howey test)?
  • Have you chosen the right jurisdiction?
  • Do you comply with the applicable regulations, including KYC and AML?
  • What are tax and custody implications for your cryptocurrency?
  • What happens after the token sale is over?

This article was originally published in Bitcoin Magazine and reprinted with permission.

About the Author: Kirill Bensonoff is an entrepreneur who has successfully bootstrapped two startups with successful exits. Kirill is the co-organizer of the Boston Crypto meetup, angel investor and an investor into multiple successful ICOs, such as Civic, Bitquence, SALT and others. He has also written for the Huffington Post, Inc. and Medium. Follow him on Twitter @prankstr25

What is TenX ($PAY)

Cryptocurrency in your pocket, and the inter-blockchain network to put it there.

TenX bills itself as the way to use cryptocurrency to make everyday purchases.

In their own words:

“At TenX we work on making any blockchain asset spendable instantly.”

TenX started life as OneBit, a payment card linked to a bitcoin wallet. As Bitcoin began to give up some of it’s cryptocurrency market share to projects like Ethereum and other ICO’s, they identified an opportunity in developing an exchange platform that would open up their initial concept to this broadening market.

The COMIT Network

The platform they developed is called the COMIT network. COMIT stands for Cryptographically-secure Off-chain Multi-asset Instant Transaction network. It’s a network that runs a cryptographic protocol which allows transactions to be processed rapidly and across blockchain assets.

So if you’ve got a customer and they want to pay you in Litecoin but you want to take payment in Bitcoin, COMIT can help.

Here’s how:

The hash

Let’s say you have a math equation that follows a couple of simple rules.

  1. When you put the same number into this math equation, you always get the same result.
  2. There’s no way way to reverse the equation. Meaning, just because you know the result, doesn’t mean you can figure out the answer.

This describes a form of cryptographic hash function. You’ve probably heard of these things before. They’re kinda a big deal. They mean that you can give me a lock, and I have no way of finding the key. I could try to guess the key but my chances of guessing correctly are so vastly remote that we can pretty much completely rule that out.

There are a bunch of these hash functions, having subtly different properties. There are people who spend their lives examining these hash functions. They are the basic building blocks of cryptography and cryptocurrencies.

Matching

So, you want to take payment from your customer. The one with the Litecoin that you’d prefer to turn into Bitcoin. You pick a big crazy number that they can never guess. That’s your secret key. You take that secret key and you run it through a hash function and you get another big crazy number. That number is sent to your customer.

Now, COMIT runs it’s COMIT Routing Protocol (CRP). This is the part of the system that analyzes the network and finds the right path for a transaction. There are Nodes on the network, called Liquidity Providers (LP’s) that volunteer funds to aid in transactions. These LP’s are compensated in return for the use of their funds. The CRP is designed to search through these LP’s and find the combination that will result in the fastest, safest, and cheapest possible route for your transaction.

Timelocks

When the CRP finds the optimal route for your transaction, the sender takes the hash that you sent and forms a contract with the first LP in the route. This contract ties up the necessary funds under a special constraint called a Hashed TimeLock Contract (HTLC).

This HTLC acts as a promise that if the right number is provided in the right timeframe, the LP accepts payment. Otherwise, payment returns to the sender. The sender can’t cancel this contract. It is only cancelled if the timelock expires.

Setting up the Dominoes

This pattern is repeated along the route. Each party enters into one of these HTLC’s with the previous party.

Ideally there is only one LP involved. In our case we would hope that the system would be able to find a node that is willing to swap Bitcoin for Litecoin. But in the case of more obscure blockchain assets, we may need to traverse multiple LP’s.

Whatever path the protocol defines, the end result is a chain of contracts that guide transactions through the network and into your account. These contracts are designed in such a way that if any one of the transactions fails, the whole transaction chain fails. The trigger to activate these transactions is that secret number that only you possess.

With all of these contracts in order, all of the parties involved have open proof that each party is responsible for fulfilling their part of the bargain.

At this point, you can provide your secret key and each contract takes that secret key and passes it through the same hash function. If the result is equal to the number you provided to the customer in the first place, the transactions are validated.

The Card

TenX works with credit card providers to connect this transaction network to a payment card, allowing you to quickly and safely convert cryptocurrency funds into card transactions. Currently, TenX supports Bitcoin, Dash and Ether, but the system is capable of supporting most blockchain assets and the team plans to expand offerings in the future.

You can download the TenX mobile wallet and take a look. It’s available for both android and IOS. If you’re in a country where TenX is available you can order a debit card that links to that wallet. The card and services are not yet available in the US.

There are plenty of other systems out there that seek to link cryptocurrencies to payment cards: Xapo, bitpay, shift, etc. There are also other networks designed to provide liquidity between cryptocurrencies: XRP, OMG, KMD. Where TenX shines is in effectively combining the two concepts, and integrating an ERC20 token as an incentive to using the system.

The Token

So TenX itself is a payment system, but it also maintains an associated token, under the symbol PAY. Where does this token fit in?

With a traditional credit card transaction, merchants pay a fee when they accept payment. That fee ranges somewhere between 0.5% and 3%. This fee is split between the merchant’s bank, the credit card processing system, and the card’s issuing bank.

With traditional credit cards, this fee goes to the card issuer. However, some portion is often returned to the user as an incentive for using the card. That’s where those credit card rewards programs come from.

Instead of a rewards program, TenX distributes PAY tokens in the amount of 0.1% of purchases. Additionally, a reserve of 0.5% of the payment volume on the network is periodically distributed to holders of PAY tokens in proportion to their holdings. TenX plans to distribute this incentive monthly at first, with hopes of increasing distribution frequency in the future.

The Token Sale

On June 24th 2017 starting at 9PM Singapore Time, 51% of PAY tokens in existence were released in an Initial Token Sale. Of the remaining tokens, 29% were retained by TenX to fund development. The remaining 20% went to TenX’s founders, employees, and early investors. No new PAY tokens will be created.

Other Resources

Watch one of the TenX co-founders, Julian Hosp, do a pretty decent job at trying to explain the COMIT network.

Crypto Tips offers a good, quick breakdown.

The most similar project I can find would appear to be Monaco.

The Sophisticated Investor’s Guide to Mingo’s Pre-sale

Projections to gain users seems to be heavily based on Xunison’s ability to convince its user base to use MGC in replace of FIAT. Will this be possible?

Yes. While it’s not simple, the benefits to Xunison for implementing Mingo outweigh the difficulties of maintaining the current arrangement with customers. Mingo solves billing, forex, revenue recognition and customer support issues for Xunison — a significant cash saving which can be used to soften any adoption difficulties.

Furthermore, as the services that Xunison provide are very high margin, there is significant room to still make profit, and incentivize customers to transition.

How do you think an unstable price would affect this?

We have been very deliberate in the design and economics of MGC to ensure we minimize the risk of extremely volatile pricing. For example:

  • all pre-sale contributions are vested for 6 months — there can not be a dump on launch of the coin.
  • founders and team are vested over 4 years.
  • sensible pricing of pre-sale and ICO tokens, along with a consistent introduction of users to MGC, should ensure a steady rise in the value of MGC.

There will be a steady inflationary pressure on the value of MGC which should make customers more comfortable in holding MGC, and then paying with it. With a rising price, there is more chance they are to gain than lose in volatility.

We should also remember that very large multi-national enterprises are used to dealing with much more volatile currencies than the dollar or euro, so managing currency risk is something built-in to their daily operations. Any increase in volatility is offset by the reduced risk in the reduction of currencies to manage.

It is also worth noting the Xunison is free to change the price it charges customers in MGC; there will of course be flexibility as customers adopt it.

Is there a signed contract with Xunison?

Yes, and for substantial investments please reach out directly to joe@mingocoin.com if you would like to see a copy of the document.

Who is developing the coin — are they in-house or contract?

In-house, but fully committed and shareholders.

Who is the dev team and who is full time?

Ken is the CTO and Ryan is the Lead Engineer. Their team is in northern California.

There is also a team in Ireland working on the project.

Everyone working on Mingo will be full-time.

Why an €8 million hardcap for pre-sale?

We only need €2 million to achieve the base goals we are looking to achieve ahead of the ICO. Given the experience and ambition of the team we set the hardcap higher at €8 million due to our confidence in their ability to deploy capital efficiently for the benefit of all contributors. This includes scaling out the development efforts to accelerate the roadmap progress, allocating additional legal funds to help with regulatory compliance, and performing redundant security audits to build further confidence in the project.

The presale discounts seem high — particularly the first hour?

Given what we can achieve with the pre-sale funds, and that they are tethered to our ICO price, we stand behind the fact we think they are fair. We believe the pre-sale contributors are clearly taking additional risk and should be compensated for such.

Additionally, there are no ‘inside’ deals occurring alongside this pre-sale. We have always believed in blockchain as more than just a technology, but a philosophy, and democratising access to early stage companies is part of that. Therefore, numerous partners that have been working with us will also be access the pre-sale at the discount price.

When you launch the ico will there be a tier system and if so what discount levels?

The intention at this point is to run a pre-registration for the ICO. Only those who have pre-registered will be able to participate. We will offer all tokens equally to those registered to ensure the widest and most equal distribution of tokens.

Any not taken by those registered will fall into a second round and will, again, be equally distributed. On the third day, any remaining tokens will be offered openly to those that contribute first.

As it stands, there is no intention to discount the ICO price. However, given that the waters move quickly in this world, we believe it is in the best interests of all contributors that we make the exact decision nearer the launch of the ICO.

Marketing in crypto is now nearly as important as the product and as such whats the marketing plan for the project?

We will continue to rely on the strength of the team which is its ability to form partnerships. There are numerous partnerships in the pipeline with some of the biggest brands in the world.

We also have a user reward pool that will be issued to incentivise referral behaviour and adoption.

Where will the coin be listed?

As all experienced ICO contributors understand, there is normally no ability to guarantee that a coin will be tradable on an exchange from this early on in the process.

However, in this case we can already confirm that MGC holders that are not under a vesting schedule will be able to sell coins from the launch day. This is because of our partnership with CYFX, which we will expand on in a further post.

We completely understand the need to get MGC on other exchanges and are in conversations with many of the important ones. As is standard, it is improper for us to reveal anything until we are certain it will occur — but expect further information on exchanges as we build up to our ICO.


The Sophisticated Investor’s Guide to Mingo’s Pre-sale was originally published in MingoCoin on Medium, where people are continuing the conversation by highlighting and responding to this story.

SEE UMBRELLA COIN (UMC) INSURANCE POLICY

Umbrella coin (UMC) was founded with the idea that most insurance companies around the world get rich even if they provide little service. In a way when premiums for Property / Casualty (P / C) and Life / Health (L / H) increase, policyholders are required to pay hidden fees such as deductibles, co-insurance, and co-pays. UMC thinks it is wrong if the entire industry is established by not using the services they provide. UMC believes blockchain technology built on decentralized networks can change this.

target UMC, unlike other traditional companies that take from you and are only interested in your money.

WHY UMBRELLA COIN

The insurance system nowadays isn’t as plausible as it should be because in recent past insurance firms seems to be posing problems for policy holders. Problems such as selling insurance through third parties commonly called “middle men”. This problem can be likened to buying the same commodity from a retailer and from a wholesaler, obviously the retailer’s price would be more expensive which exactly is what middle men does: they tend to add extra cost on the sale of insurance policies. Middlemen are agents that are licence to selling insurance and they tend to make commission out of the sale of insurance which is part of what umbrella coin is here to fight for. Middlemen gaining profit off sale of insurance policy tends to increase its cost of purchase. Also one thing i want you to understand is the fact that insurance is sold based on the forseen risk of the policy holder. Based on perceived risk, or previous insurance claims, policyholders may be viewed as a greater liability and forced to pay more. with time, rates increase for car insurance and life insurance as you are prone to risk
Another major problem is the high premium paid to insurance companies. Most insurers increase the premium based on risks which they perceive, which over time becomes very exorbitant.

SEE WHY YOU SHOULD INVEST IN UMC
1. Health insurance, money insurance coverage, and other benefits in accordance with the benefits of insurance
2. Make every policyholder will feel safe and comfortable when something happens to him, so you do not need to think about the cost altogether
3. Umbrella Coin simplifies the process in the insurance sector for policy holders
4. Policyholders are guaranteed security The

ABOUT TOKEN SALE AND ICO
• Crowdsale will start on 20 August 2017 12:00 UTC. • Ends on 20 September 2017 12:00 UTC.

Number of Umbrella Coin tokens:
• Available as many as 100,000,000 Token
• 1 ETH = 600 UMC tokens. • The first two days, will get 20% token bonus.

ABOUT Team

Umbrella Coin (UMC) has assembled a two-decade dedicated team of individual individuals in the insurance industry, including in companies such as The Hartford, and our development team is comprised of Microsoft engineers. The team has created a commercial software product used by millions of people around the world

USEFUL LINKS

Official web page:https://www.umbrellacoin.org/

facebook:https://www.facebook.com/umbrellacoin/

twitter:https://twitter.com/umbrellacoin

Reddit:https://www.reddit.com/r/UmbrellaCoin/

ANN thread:https://bitcointalk.org/index.php?topic=2025943.msg20180128

bitcointalk profile:https://bitcointalk.org/index.php?action=profile;u=1150005

github:https://github.com/umbrellacoin

My Youtube channel:https://www.youtube.com/channel/UCoKb8l6T6TN3dk9_9CvTnvw

7 reasons to invest in SmartBillions ICO, including downsize protection

Downside protection — Prime reason for investing in SmartBillions.

SmartBillions is the first fully decentralized and transparent lottery managed by an Ethereum smart contract. All bets and results are public and recorded on the Ethereum blockchain without 3rd party involvement.

The recently-revealed SmartBillions PLAY tokens offering is a unique and secure investment opportunity. Finally, there’s the transparent “ICO” whereby Investors and their funds are protected like never before.

The SmartBillions PLAY token sales (“ICO”) goal is set at 200 000 ETH.

Here’s a quick summary of the upcoming ICO key features of the groundbreaking global lottery (est. Jackport 2.5 billion USD).

  1. Token Allocation
  • Crowdsale backers will receive 79.37 % of all PLAY Tokens issued
  • The development team will receive 20.63 % of all PLAY Tokens issued
  • Tokens will be sent to the Crowdsale backers immediately receiving their funds
  • 1 PLAY Token = 0.001 ETH
  1. Funds allocation:
  • 90 % of the raised sum will be allocated to the Jackpot.
  • 10 % of the raised sum will be send to the development team for the marketing budget and to the Affiliates to pay for the affiliate and bounty campaigns.

2. Funds management

All funds are under smart contract administration and fund distribution rules are unalterable. The funds management scheme is presented below.

3. SmartBillions smart contract funds management:

a. Prior to the ICO:

  • Prior to the ICO, there are no funds stored in the smart contract. Exactly 7 days before the ICO is initialized, the development team will put 1 500 ETH into the smart contract to fund the Hackathon prize.

b. During the ICO

  • Over the course of the ICO, the smart contract will collect ETH from Crowdsale backers, with 90 % of the sum remaining in the smart contract.
  • 10 % of the raised sum will be send to the development team for the marketing budget and to the Affiliates to pay for the affiliate and bounty campaigns.

c. After the ICO

  • Income from the ticket sales will be retained by the smart contract.
  • Prizes will be paid to the lottery winners via the smart contract
  • Token holders will receive dividends every month, 5 % of the value of the ticket sales every month will be assigned to the dividend fund.
  • Affiliates will receive 1 % from the ticket sales from the players using their affiliate links.
  • The development team will be allowed to withdraw 0.25 % of the Jackpot value every week for the marketing purposes. This is possible only if the overall Jackpot value is larger than the combined liabilities of potential redemptions of all PLAY Tokens in circulation as well as current unpaid lottery winnings

4. Dividend payouts.

  • Token holders will receive a dividend every 16 384 Ethereum blocks (approx. 1 month apart). A fixed 5 % of all lottery income coming from ticket sales is unchangeably allocated to the dividend payout.
  • Payouts will be made directly from the smart contract balance, which is inaccessible to any of the parties. Ticket sale revenues, and the smart contract balance, are public and cannot be modified by any third party. Nobody can influence the dividend payout or its value.

5. Downside protection — Token redemption possibility

Any time after the PLAY Token sale is complete, holders may redeem their Tokens and receive the majority of their invested funds back. Token holders will receive 71,43 % of the invested funds back if they redeem their Tokens. This feature reduces investors’ risk to a minimum in the event that the lottery’s performance falls below expectations or any unexpected events affect the lottery.

6. Contract security — Hackathon

Exactly 7 days before the initial PLAY Token sales offering, the SmartBillions development team will allocate 1500 ETH to the Jackpot as a reward to anyone who proves they can hack the smart contract and withdraw the funds. This own-risk solution will indisputably validate the contract’s security.

7. Lottery ticket sales — Distribution of funds

Between 94% and 95% of Ticket sales revenue will go directly toward the Jackpot. Another 5% is designated for PLAY Token holders’ dividend payments and the remaining amount (up to 1%) will go toward compensating the lottery’s affiliates.

This distribution of revenues from Ticket Sales guarantees the Jackpot’s continued growth and ensures that the SmartBillions lottery will consistently and dynamically rise in popularity.

— — — —

All the presented features summed up together prove the high value of the SmartBillions investment.

For the SmartBillions lottery ICO, the funds’ allocation to the Jackpot is crucial. The Jackpot value is the key to the Lottery success, and in the case of SmartBillions, 90 % of funds raised is allocated to the Jackpot. Only 10 % of the raised funds will be accessible to the Development Team. These funds will be spent on marketing activities aimed and driving interest and excitement upon potential users of the SmartBillions lottery. The Tokens allocation is fair and favourable for investors, as they will receive almost 80% of the Tokens issued.

When it comes to the smart contract itself, its most important aspect is its complex self-amending mode of operation. The funds are under smart contract management with no possibility for access by a 3rd party. The project is independent and there are no circumstances that would allow any member of the development team to use the funds contrary to their purpose.

Because the Dividend value depends on the (publicly disclosed) Ticket sales revenue, there’s no risk that the dividend value or the payment itself can be influenced by any party. Dividend payouts are transparent and the whole process is managed by the Ethereum smart contract. There is no technical risk that the Dividend payouts will be influenced by any party and in any way.

The SmartBillions Team was very serious about guaranteeing Investor protection.

The most important aspect of the project’s security is that the securing of the funds within the smart contract. No party will be ever able to access the funds. It is the smart contract that manages the funds — the rules are set and cannot be changed. This guarantees that the funds will be allocated only in accordance with the predefined rules detailed in the Whitepaper. There’s no risk that the funds can spent in any manner that violates the rules.

The Smart contract will be proven 100% secure during the hackathon, which will commence 7 days before the start of the PLAY tokens offering (“ICO”). This is the first time in history a Hackathon will be held with the aim of proving the self-amending smart contract quality and security. As we can see, the development team is so confident about their product and its security that they will risk their own funds to demonstrate its safety. The success of the Hackathon will prove the smart contract’s stability and security. At the same time, it will indisputably guarantee that the investors funds are to be protected in full.

The possibility to redeem tokens is another revolutionary feature introduced by the SmartBillions lottery project. This feature allows Token holders to redeem Tokens and receive most of the invested funds back any time after the end of the PLAY tokens offering. This is another strong and unalterable guarantee for the Investors that their funds are comprehensively protected. If the lottery performance doesn’t match the Investors’ expectations or there are unforeseen circumstances that affect the lottery, Investors can redeem their Tokens at any time, receiving the majority of their invested ETH. It’s the first time an entire party of Investors and all their funds are protected on such scale.

The distribution of funds from the SmartBillions ticket sales guarantees Jackpot growth over time, which will drive the lottery’s popularity up and attract more players. The Jackpot’s growth over time is guaranteed by the house-edge-to-ticket-sales-revenue-distribution ratio. The house edge is set at 13.85 %, so 86.15 % of the Ticket sales revenue will be paid to the players as prizes, while 94–95 % of the tickets sales revenue goes to the Jackpot. This guarantees steady Jackpot growth over time and rising lottery popularity.

The innovative character of both the SmartBillions lottery product and the process of the PLAY Tokens offering creates a secure investment framework never before seen in any “ICO” or token offering projects.

SimplyVital Health Pioneers Blockchain Healthcare Ecosystem

The company’s solution will streamline information sharing, using a permissioned blockchain to ensure the security and integrity of critical data.

Reliable access to patients’ medical information is a prerequisite for timely and effective healthcare, but the confidential nature of personal data means that healthcare providers often operate within a siloed world creating unintended consequences where patient outcomes come second to data protection concerns.

The full article: https://coinidol.com/simplyvital/

DES or Dolphin: who is better?

The ICO market grows. Every day we get to know about one more project at a stage of fund raising. However the most important problem of this segment the scam-projects, hasn’t been solved yet.

It is because ICO market is still rather young and causes ambiguous opinions at public. For example, the authorities of China and Great Britain have limited such format of fund raising, Switzerland has started a hunt for scammers. And in Thailand, on the contrary, there is a very positive attitude to this phenomenon. However it is clear enough that market needs consolidation and control, both external and internal.

The niche of projects which represent multipurpose platforms for carrying out ICO is already quite filled. Several projects fight for the place under the sun, but all of them are deprived of arbitration function: when the third party estimates risks, provides guarantees and even an insurance. Today it is only Decentralised Escrow.

Another vision of control over ICO offers Dolphin blockchain intelligence which tries to unite in one project all modern trends: from blockchain and neuronets till external examination and ratings. Let’s compare these two models today: simple, but clear and reliable DES with DBI — difficult and bulky, but with all popular “counters”.

Dark dolphin

The Dolphin blockchain intelligence project positions itself as the platform and marketplace, working at the smart contract which offers services of the combined investment analysis of digital assets. The purpose of the project consists in creation conditions for more effective investment into blockchain projects. One more projects exchange estimated by users appears.

Developers plan to realize on their platform various widgets / applications with the indication of their sources. Users will be able to independently develop these applications.

Creators of the platform have gone by the principle “everything and much”. Therefore they have brought into the development not only a possibility of check startups by carrying out their expert assessment, but also the algorithms of machine learning, neuronets making the automatic analysis. Subscribers can also take part in assessment. Generally the project offers the most various format of estimates a blockchain startups which plan entry into ICO.

As the team states, the innovations used in development will allow to achieve the deep analysis of startups. As a result investors receive bigger flexibility in making decisions on investment.

Advantages of Descrow

The Decentralised Escrow project (DES) also represents the platform for placement of the startups preparing for entry into ICO. However it will be not just the exchange of projects — it is only one of services in the general control system for ICO.

The platform works at the principle of decentralised escrow with the existence of the third party which can be charged for the project and the investor. The main idea is scam fighting. Descrow developers intend to change the attitude of investors to investment of blockchain projects. New approaches to teams and investors interaction are proposed. Thanks to that appears transparency in control, safety of financing and also the confidential relations of the parties.

DES provides ways of impact the activity of the team which has collected on ICO the necessary sum for further development. Financing is carried out step by step that guarantees pointed monetary investments. If there are any doubts in reliability of developers and their aspiration, the project loses funds.

As a result DES creates such conditions that are not favorable to “scammy” projects. Therefore all startups presented on it automatically get trust from potential investors. Even if the team of the project on the platform won’t be able to fulfill the obligation, investors risk minimizes — only the first tranche can “burn down”.

Besides, after ICO DES will create special insurance fund.

Of course, in comparison with Dolphin DES looks not so technological. However simplicity is successful. Who will cope better with project assessment either the skilled expert or neural network which computing capacities have to be paid additionally.

Announcement of so extensive format of estimates by the Dolphin team in practice can not to “shoot”. The more technologies it is necessary to unite together, the higher are the risks, search of one more team of developers is out of question.

Use of machine learning algorithms is especially risky, despite its active use , this sphere is still far from an ideal. For full application of machine learning large volumes of the checked and structured data are necessary. There is no data market today and that is the greatest problem. Therefore Dolphin can be classified as a high-risk project.

Thus, despite technical innovations and loud words, Decentralised Escrow looks more perspective and less risky for investment, than Dolphin blockchain intelligence. Why to build a rocket if it is possible to buy the plane ticket?

Follow us:

web: https://descrow.org/en — — — — — — — — — — — — — — — — — — — PreICO: https://preico.descrow.org/en________________________________ Telegram channel: https://t.me/descrow ______________________________ Twitter: https://twitter.com/descrow3 ________________________________ FB: https://www.facebook.com/descrow3 ____________________________ VK: https://vk.com/descrow________________________________________ Bitcointalk: https://bitcointalk.org/index.php?topic=2089578.0_________ Linkedin: https://www.linkedin.com/company-beta/18142266/_________

DES or Dolphin: who is better?

The ICO market grows. Every day we get to know about one more project at a stage of fund raising. However the most important problem of this segment the scam-projects, hasn’t been solved yet.

It is because ICO market is still rather young and causes ambiguous opinions at public. For example, the authorities of China and Great Britain have limited such format of fund raising, Switzerland has started a hunt for scammers. And in Thailand, on the contrary, there is a very positive attitude to this phenomenon. However it is clear enough that market needs consolidation and control, both external and internal.

The niche of projects which represent multipurpose platforms for carrying out ICO is already quite filled. Several projects fight for the place under the sun, but all of them are deprived of arbitration function: when the third party estimates risks, provides guarantees and even an insurance. Today it is only Decentralised Escrow.

Another vision of control over ICO offers Dolphin blockchain intelligence which tries to unite in one project all modern trends: from blockchain and neuronets till external examination and ratings. Let’s compare these two models today: simple, but clear and reliable DES with DBI — difficult and bulky, but with all popular “counters”.

Dark dolphin

The Dolphin blockchain intelligence project positions itself as the platform and marketplace, working at the smart contract which offers services of the combined investment analysis of digital assets. The purpose of the project consists in creation conditions for more effective investment into blockchain projects. One more projects exchange estimated by users appears.

Developers plan to realize on their platform various widgets / applications with the indication of their sources. Users will be able to independently develop these applications.

Creators of the platform have gone by the principle “everything and much”. Therefore they have brought into the development not only a possibility of check startups by carrying out their expert assessment, but also the algorithms of machine learning, neuronets making the automatic analysis. Subscribers can also take part in assessment. Generally the project offers the most various format of estimates a blockchain startups which plan entry into ICO.

As the team states, the innovations used in development will allow to achieve the deep analysis of startups. As a result investors receive bigger flexibility in making decisions on investment.

Advantages of Descrow

The Decentralised Escrow project (DES) also represents the platform for placement of the startups preparing for entry into ICO. However it will be not just the exchange of projects — it is only one of services in the general control system for ICO.

The platform works at the principle of decentralised escrow with the existence of the third party which can be charged for the project and the investor. The main idea is scam fighting. Descrow developers intend to change the attitude of investors to investment of blockchain projects. New approaches to teams and investors interaction are proposed. Thanks to that appears transparency in control, safety of financing and also the confidential relations of the parties.

DES provides ways of impact the activity of the team which has collected on ICO the necessary sum for further development. Financing is carried out step by step that guarantees pointed monetary investments. If there are any doubts in reliability of developers and their aspiration, the project loses funds.

As a result DES creates such conditions that are not favorable to “scammy” projects. Therefore all startups presented on it automatically get trust from potential investors. Even if the team of the project on the platform won’t be able to fulfill the obligation, investors risk minimizes — only the first tranche can “burn down”.

Besides, after ICO DES will create special insurance fund.

Of course, in comparison with Dolphin DES looks not so technological. However simplicity is successful. Who will cope better with project assessment either the skilled expert or neural network which computing capacities have to be paid additionally.

Announcement of so extensive format of estimates by the Dolphin team in practice can not to “shoot”. The more technologies it is necessary to unite together, the higher are the risks, search of one more team of developers is out of question.

Use of machine learning algorithms is especially risky, despite its active use , this sphere is still far from an ideal. For full application of machine learning large volumes of the checked and structured data are necessary. There is no data market today and that is the greatest problem. Therefore Dolphin can be classified as a high-risk project.

Thus, despite technical innovations and loud words, Decentralised Escrow looks more perspective and less risky for investment, than Dolphin blockchain intelligence. Why to build a rocket if it is possible to buy the plane ticket?

Follow us:

web: https://descrow.org/en — — — — — — — — — — — — — — — — — — — PreICO: https://preico.descrow.org/en________________________________ Telegram channel: https://t.me/descrow ______________________________ Twitter: https://twitter.com/descrow3 ________________________________ FB: https://www.facebook.com/descrow3 ____________________________ VK: https://vk.com/descrow________________________________________ Bitcointalk: https://bitcointalk.org/index.php?topic=2089578.0_________ Linkedin: https://www.linkedin.com/company-beta/18142266/_________