Category Archives: fintech

‘Nothing Finalized’: South Korea Gov’t Ministries Diverge Over Crypto Ban Proposal

Source

Mass confusion after reports broke that South Korea is planning to ban cryptocurrency trade in the country, local reporters call fake news, say “nothing is finalized”

Conflicting reports today, Jan. 11, have led to confusion after a South Korean minister announced plans of a bill intended to ban cryptocurrency trading in the country.

According to Reuters, South Korean officials are working on documentation that will make it illegal to trade virtual currencies on local exchanges.

The country’s Justice Minister Park Sang-ki said the decision comes in the wake of discussions and agreements between governmental departments, including its Finance Ministry and financial regulators.

Reuters reported that Sang-ki announced the ban in a press conference, stating:

“There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges.”

However, South Korea-based Cointelegraph contributor Joseph Young reported on his personal Twitter today, citing local sources, that the South Korean Ministry of Strategy and Finance does not agree with the proposal from the Ministry of Justice to ban cryptocurrency trade in the country. Young reports that a final decision has yet to be made.

South Korea Ministry of Strategy and Finance (MSF)
“We do not share the same views as the Ministry of Justice on a potential #cryptocurrency exchange ban.”
MSF is upset MoJ released premature statement.
Massive confusion.https://t.co/anbsOJz1KX

— Joseph Young (@iamjosephyoung) 11 января 2018 г.

As reported on Dec. 25, South Korea set up a task force to create legislation for the rapidly growing crypto market in the country. Contrary to an outright ban, the body plans to regulate cryptocurrency exchanges as legitimate financial service providers, and ban foreigners and underaged investors from trading on South Korean exchanges.

FUD leads to sell-off

The popularity of cryptocurrency trading in South Korea has seen the price of virtual currencies trading far higher than exchanges in different countries.

Nevertheless, the minister’s remarks led to a sell-off of cryptocurrency. The Bitcoin (BTC) price in South Korea plunged 21 percent down to $17,064. This lower BTC price in South Korea is still far higher than the average Bitcoin price on CoinMarketCap ($13,501 at press time), which excludes South Korean exchanges, due to the divergence in prices of cryptocurrencies in the country.

As of late December 2017, South Korea accounts for up to a fifth of global cryptocurrency trade.

‘Raids’ on exchanges embellished

Reuters also reported Jan. 11 that South Korea’s largest cryptocurrency exchange operators were “raided” by police and tax authorities amid allegations of tax evasion this week.

According to Reuters, an official from the popular South Korean exchange Coinone said authorities regarded exchange operators in a negative light:

“Local police also have been investigating our company since last year; they think what we do is gambling.”

Once again, word from correspondents inside South Korea is that the reports of a “raid” are not accurate, and have been embellished by mainstream media outside the country.

Cointelegraph’s South Korea correspondent this time retweeted CNBC’s Cryptotrader host Ran Neuner, confirming that the so-called “raids” on exchanges were actually just routine visits from tax authorities. Young notes that local media are calling the “raid” an “unexpected friendly visit”:

Fake News Reuters claiming South Korean #cryptocurrency and #Bitcoin exchanges were raided by police.
While local reporters and other media outlets are reporting it was an unexpected friendly visit.
Raid means something completely different @Reuters https://t.co/0c9NOApSKY

— Joseph Young (@iamjosephyoung) 11 января 2018 г.

Another South Korea-based trader noted on Twitter that the situation was a result of confusion both on the part of authorities and the exchanges themselves, who are reportedly willing to comply if given applicable legislation is put into place:

“There’s a lot of confusion on all sides, gov. and exchanges.”

On the fiat side of things, on Jan. 7 local South Korean media reported that the country’s authorities were planning to probe six major banks to look for alleged money laundering linked to cryptocurrency exchanges.

Crypto Card Issuers Seek Solutions in the Wake of a European Ban

Source

Crypto Card Issuers Seek Solutions in the Wake of a European Ban

Intervention by Visa spelled an end to European crypto debit cards for the majority of customers on Thursday. Around a dozen crypto companies were affected by the shutdown, which instantly wiped out their services across Europe. Issuers such as Bitwala, Tenx, Bitpay, and Xapo were left high and dry after a Visa subsidiary stopped processing payments. Two of the companies affected have since spoken to news.Bitcoin.com, revealing their plans to find an alternative solution.

Also read: Visa Veto Leaves Several European Cryptocurrency Cards Locked Out

Crypto Card Holders Are Locked Out

On Thursday, news.Bitcoin.com reported on a sudden crackdown on crypto cards within Europe, orchestrated by Visa subsidiary Wavecrest. The report explained how “the prepaid cards, which have become extremely popular in the crypto community, provide a means of indirectly paying for goods and services using cryptocurrency.”

Bridging the gap between fiat and crypto is one of the biggest challenges cryptocurrency platforms face. Hybrid cards, which allow a debit card to be funded with crypto and then used to make purchases in the local fiat currency, were seen as a smart solution. That all changed this week when hundreds of thousands of European crypto-holders found their cards had been rendered useless.

Crypto Card Issuers Seek Solutions In the Wake of a European Ban

Tenx was one of those companies affected by the ban. The company’s co-founder, Dr. Julian Hosp, told news.Bitcoin.com that around 200,000 customers had been impacted, but signaled that a resolution is on the horizon:

Tenx was prepared for this, as the company has recently entered partnership  with a new card issuing partner and is in the process of getting the new cards live to replace the old ones as soon as possible. Meanwhile, Tenx customers will be able to withdraw their funds from their accounts as of Monday evening (January 8), while they await developments.

Dr Hosp also appeared on a live Hangout on Saturday to explain more about the current situation. The company’s co-founder seems upbeat, telling news.Bitcoin.com of plans to introduce a “live virtual currencies card” and obtain a banking licence for better fiat currency integration.

The Hunt for a New Issuer

Wirex is another crypto card firm that finds itself without a payment processing partner after Visa slammed the door. The company claims to be Wavecrest’s largest client, with over one million customers – most of whom don’t use crypto cards, it should be noted. Nevertheless, the effects of the Visa veto were still dramatic: around 600,000 Wirex plastic or virtual card holders were left without service after the ban.

Crypto Card Issuers Seek Solutions In the Wake of a European BanInterestingly, Wirex CEO Pavel Matveev asserts that Visa are blameless in this, insisting that the blame lies solely with Wavecrest. He told news.Bitcoin.com: “Wavecrest have been violating Visa rules for months…it’s 100% Wavecrest’s fault and they knew it was coming a couple of months ago.”

Like Tenx, Wirex is confident the situation won’t leave its European customers serviceless. Pavel says they have four alternative issuers to choose from, one of which is based in Europe. “For us,” he said, “it’s a question of switching issuer and re-issuing cards, so it’s just a temporary problem; but for a lot of companies it’s the end of their business – they don’t have an alternative issuer and finding one plus integration might take anyway from 6 to 18 months”.

Who’s to Blame?

Crypto Card Issuers Seek Solutions In the Wake of a European BanSome in the cryptocurrency community were swift to point the finger at Visa in the aftermath of the ban, though there is no evidence as yet that the order came from up high. Given that it processes more than 100 billion transactions a year versus bitcoin’s circa 130 million, it’s premature to assert that Visa is feeling threatened by cryptocurrency. Whatever bitcoin is, be it a store of value or a medium of exchange, it is not, as yet, a Visa killer. Nor is Visa, or its subsidiary Wavecrest, a crypto killer.

It seems likely that the majority of European card issuers will be able to resume service in the near future. Customers will be wary, though, of putting all their faith in one crypto card, in the knowledge that a repeat of the Wavecrest incident could see service suspended at any time.

Do you think Visa are culpable, or was this matter none of their doing? Let us know in the comments section below.

Images courtesy of Shutterstock.

Tired of those other forums on the subject of Bitcoin? Check forum.Bitcoin.com.

The post Crypto Card Issuers Seek Solutions in the Wake of a European Ban appeared first on Bitcoin News.

Coinbase Announces They Will No Longer Accept Deposits from Nationwide Bank

Source

Coinbase will no longer be accepting deposits from Nationwide bank. The move comes due to the bank’s SEPA processing being handled by German bank Commerzbank, who has a new companywide policy of not dealing with money related to Bitcoin.

The Coinbase website has announced that they will no longer be accepting deposits from Nationwide Bank. Nationwide’s line on events appears to be that it is their SEPA payment processing, handled by Germany’s Commerzbank who have been associated with a company-wide policy of refusing to deal with transactions related to Bitcoin and cryptocurrency.

Bitcointalk forum user micalith posted the message he received when trying to facilitate a transfer using Nationwide:

Nationwide Bank’s correspondent bank for SEPA transfers is Commerzbank – please note that Commerzbank has adopted an internal policy and no longer allows transfers related to Bitcoin.

Online Reception and Reports

Initial outrage was first stoked on Reddit where users reacted to the news with indignation and outright hostility alongside other users reporting that they had also faced problems when depositing from Nationwide Bank via SEPA, although others who used debit cards in the UK reported that their payments had been successful, at least in the past. Some users suggested that Nationwide Bank users should switch banks.

Similar reactions abound on Twitter as well:

@CoinbaseSupport I paid in 3 separate payments to my @coinbase account using nationwide, as soon as i try to send a SEPA to verify a withdrawal you now claim not to accept payments from nationwide. Easy in, impossible out. How do i get my money back?

— Christy Nevin (@ChristyNevin) December 31, 2017

@coinbase I urgently need clarification on when a withdrawal from my GBP wallet will reach my account. You have taken a €1 SEPA payment from me which @AskNationwide has charged me £9 for. You are now claiming you do not accept Nationwide deposits. Whats going on?

— Tom Farmery (@TomFarmery1) December 31, 2017

@AskNationwide Why can i no longer use Coinbase with my Nationwide account? 😡I don’t understand what it is to do with you guys what i spend my money on. Been with nationwide since i was old enough to have a bank account, time to change i think.

— Simon Jordan (@shime553) January 5, 2018

Commerzbank Bank

Crypto Bank ICO

Commerzbank is Germany’s second-largest bank after Bavaria-based BayernLB. Their refusal to deal with Bitcoin is perhaps not surprising given the establishment’s conviction of laundering hundreds of billions of dollars over more than a decade for Iran, Sudan, and Myanmar.

The Justice Department said Commerzbank used non-transparent methods. Assistant Attorney General Leslie Caldwell stated:

Commerzbank committed these crimes even though managers inside the bank raised red flags about its sanctions-violating practices. Financial institutions must heed this message: banks that operate in the United States must comply with our laws, and banks that ignore the warnings of those charged with compliance will pay a very steep price.

This stance taken by Commerzbank has not stopped the bank from appropriating the very same Blockchain technology which drives Bitcoin for themselves. Bitcoinist previously reported on Commerzbank and other European banks joining IBM’s blockchain initiative last year.

Do you bank with Nationwide or Commerzbank? Will you continue to bank with them in light of their anti-bitcoin policies? Let us know in the comments below.

Images courtesy of AdobeStock, Pixmedia, Coinbase

The post Coinbase Announces They Will No Longer Accept Deposits from Nationwide Bank appeared first on Bitcoinist.com.

Bitcoin Gold Price Weekly Analysis – BTG/USD Showing Positive Signs

Source

Key Points

  • Bitcoin gold price is moving nicely and is forming support around the $210 level against the US Dollar.
  • There is a major bearish trend line forming with current resistance at $270 on the 4-hours chart of BTG/USD (data feed from Bitfinex).
  • The pair has to move above the $270 and $290 resistance levels to move back in the bullish zone.

Bitcoin gold price is slowly gaining pace above $220 against the US Dollar. BTG/USD must clear the $270 and $290 hurdles to gain traction.

Bitcoin Gold Price Support

There was a sharp downside move in bitcoin gold price from the $420 high to $192 low against the US Dollar. Later, the price formed a decent support base and moved above $200. It has formed a good base above the $200 level and is currently trading in a range above $200-220. It recently succeeded in breaking the 23.6% Fib retracement level of the last drop from the $420 high to $192 low.

However, there are two important resistance forming on the upside at $270 and $290. Both acted as a major barriers for more gains. Moreover, there is a major bearish trend line forming with current resistance at $270 on the 4-hours chart of BTG/USD. The trend line resistance is above the 100 simple moving average. The current price action is positive above $240. Therefore, there is a chance that BTG could move above $270. However, the $290 resistance is the next barrier along with the 50% Fib retracement level of the last drop from the $420 high to $192 low.

Bitcoin Gold Price Weekly Analysis BTG USD

A proper close above the $300 level is required for buyers to gain momentum. As long as the price is below the $300 level, there can be more ranging moves between $220-290.

Looking at the technical indicators:

Hourly MACD – The MACD for BTG/USD is slightly in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTG/USD is moving higher toward the 70 level.

Major Support Level – $220

Major Resistance Level – $290

Charts courtesy – Trading View, Bitfinex

Bitcoin Cash Reddit Tip App Users Hacked for Thousands

Source

Bitcoin Cash Reddit Tip App Users Hacked for Thousands

An ongoing investigation has revealed multiple allegations that hot wallets from users of popular subreddit r/btc were hacked through Tippr, resulting in thousands of dollars worth of bitcoin cash (BCH) stolen. Early theories assumed this to be a new low in the so-called Civil War between supporters of bitcoin core and BCH. 

Also read: African Central Banks Urged to Ditch Dollar and Buy Bitcoin

Bitcoin Civil War Might’ve Gotten Uglier

Using a previously unknown third-party vulnerability, users of Reddit’s increasingly popular subreddit forum, /r/btc, a discussion board which often features positive comments by bitcoin cash supporters, were hacked for thousands of BCH.

Reddit is a news aggregator fueled by subreddit discussion boards which fill every kind of topic niche. It is owned by media conglomerate Advance Publications, and is routinely in the top ten most visited websites.

Bitcoin Cash Reddit Tip App Users Users Hacked for Thousands

The attacks were seemingly so base, early thinking went toward an inside job. Perhaps a rogue Reddit admin had snatched bitcoin cash, came an initial theory. In the final month of last year, /r/btc’s moderator and a user who happened to work in the malware field were made vulnerable and hacked. For about half an hour, the subreddit itself was redirected to r/bitcoin. And then a half dozen other bitcoin cash-favoring forum users were compromised, especially those tipped through Tippr.

The conspiracies began. Obviously, bitcoin core supporters had taken to ire, doing so as a new low. They might hate bitcoin cash, but no one turns down free money.

50,000 USD of BCH Flowed Through Tippr in December

Tippr is a bot used on Reddit for the purposes of tipping users in BCH. Tippers send the bot a deposit, and then comment, noting they’re using u/tippr. An example might be: “Great point u/tippr $3.” The bot will chime in, confirming the tip. The recipient must have a BCH wallet, and then message the bot in return, listing the BCH wallet address and include the amount. The bot dutifully answers in confirmation, and so the recipient can now access funds. Estimates in the upwards of 50,000 USD worth of BCH has flowed through the bot in December of last year. The culprit evidently was tracking such public posts, causing Tippr to go dark, pending results, as the developer learned of the investigation.Bitcoin Cash Reddit Tip App Users Users Hacked for Thousands

The attack came as a reset from Reddit in email form. Immediately another email confirmed the password change…even if the email hadn’t opened for whatever reason. “My email provider is a very large provider with a name we all know,” a hacked user explained. “Logging is provided and there was no suspicious activity on my email account. My email account also has 2FA. The emails sent by reddit (first one ‘click here to change your password’ second one ‘your password has been changed) were unopened in my inbox.’”

Whatever the case, this does appear to be something of a new kind of attack allowing access to Reddit accounts, a vulnerability hitherto unknown. It now could at least be plausible NEITHER a Reddit employee was on the make or a dastardly bitcoin core jihadist was involved. 

It turns out one or the other might’ve been sufficient but not a fully necessary condition to launch the attacks. Tippr is the common denominator, and where there is money to be taken no other motive need be ascribed. Tippr is used not only on Reddit forums but also on Twitter.

Bitcoin Civil War’s Alleged New Front: Bitcoin Cash Users Hacked for Thousands

Conspiracy Sufficient But Not Necessary

The bot’s creator, Rob Danielson, mused it was probably “someone [who] realized they had an opportunity to make a quick buck.” Through private messaging via Reddit, accounts gave up as much as $4,000 total worth of bitcoin cash. Once the incidents were discovered, Mr. Danielson disabled the bot for Reddit.

For its part, Reddit is pointing fingers at its automated email subcontractor Mailgun. Though the number of users impacted was roughly a dozen, someone could gain access to resetting emails through Mailgun, a potentially huge problem for Reddit going forward. The hacker could not access Reddit proper nor a user’s email account, they claim. Reddit has since dropped Mailgun in favor of its own server. Mailgun believes “less than 1% of our customer base was potentially affected.” Tippr is now available again on Reddit.

Bitcoin Cash Reddit Tip App Users Hacked for ThousandsA Reddit engineer did finally respond to multiple requests by users for public comment. “Thanks for reporting – we’re not ignoring. This was reported privately via security at [Reddit] and we’ve been investigating.”

Moderator of /r/btc, Bitcoinxio, noted Reddit maybe “needed a kick in the butt after all this publicity about the hacks in the past couple days, but we’ve been telling them about the hacks now for some time,” he wrote. “I wouldn’t be surprised if the other hacks are related in some way or there are other exploits which they haven’t even investigated because they are ignoring our concerns and just shrugging them off.”

What are your thoughts on the bitcoin cash hacks? Let us know in the comments section below.

Images courtesy of Pixabay, Reddit, Tippr.

Need to calculate your bitcoin holdings? Check our tools section.

The post Bitcoin Cash Reddit Tip App Users Hacked for Thousands appeared first on Bitcoin News.

Stellar Rockets into the Cryptocurrency Top 10 After Tripling in a Week

Source

Stellar Rockets into the Cryptocurrency Top 10 After Tripling in a Week

2018 is still in diapers and yet the cryptocurrency top 10 is already looking very different to last year. Gone are the likes of dash, replaced by coins that have never reached these heady heights before: tron and stellar. The latter peaked at number six this week after tripling in value in seven days from a low of 32 cents. Stellar now boasts a $13 billion market cap. After lying low for the first three years of its existence, stellar is riding high and attracting widespread media attention.

Also read: Ethereum Over $1000 and $100B Market Cap, BTC Dominance at 32% Record Low

From a Ripple to a Rocket

Stellar is described is an open-source project with a “distributed, hybrid blockchain”. It “exists to facilitate cross-asset transfers of value, including payments. The Stellar Network forms “an open, global financial network where all actors – be they people, payment networks, or banks – have equal access”. If that sounds a lot like Ripple, that’s because it is: Stellar is Ripple’s sibling, having been created by Ripple cofounder Jed McCaleb after he left the company. McCaleb is also famous for having sold Mt Gox to Mark Karpeles in 2011. Stellar was initially a fork of the Ripple protocol, before later being extensively rewritten.

Stellar now boasts a $13 billion market cap. After lying low for the first three years of its existence, stellar is riding high and attracting widespread media attention.

Lumens (XLM) are the currency that power the Stellar Network, which boasts transaction times of under five seconds. The network has a fixed inflation rate of 1% per year. Like Ripple, Stellar’s targets are financial institutions and corporations, and the company has already inked deals with IBM and Deloitte; the latter is classified as a partner. Stellar’s goal, like that of many cryptocurrencies, is to become the web’s go-to payment solution. Low fees and fast transaction times are its two biggest claims, although the same can be said of many altcoins.

Billions of Lumens Shining Bright

In 2017, 29 cryptocurrencies exceeded bitcoin’s 1,600% gains, and stellar was one of them. Its value has grown an astonishing 28,000% in the space of a year. In the past 24 hours, $800 million lumens were traded on exchanges. The token reached an all-time high of 90 cents this week and is currently trading for around 75 cents.

Stellar Rockets Into the Cryptocurrency Top 10 After Tripling in a WeekSome commenters see Ripple and Stellar as locked in a battle for supremacy, enacting their own version of Bitcoin Core vs Bitcoin Cash. Given the similarities between Ripple and Stellar, including their shared codebase, people, and target audience, these comparisons are inevitable. In terms of developing relationships with banks and other financial institutions, Ripple is streets ahead, but Stellar has the upper hand in other areas.

For one thing, it’s not hoarding 60% of the total supply to itself. Ripple, on the other hand, still holds 55 billion XRP. The total number of coins in existence on each network is very similar though, standing at 100 billion ripple and 103 billion stellar. 17.8 billion stellar are in circulation right now, two billion of which were awarded to Stripe in 2014 in exchange for a $3 million loan. If Stripe still has them, those lumens are now worth billions.

Despite Stellar’s interstellar ascent, not everyone is convinced by the cryptocurrency.

Stellar now boasts a $13 billion market cap. After lying low for the first three years of its existence, stellar is riding high and attracting widespread media attention.

How Centralized is Stellar?

Like Ripple, Stellar uses a network of trusted validator nodes. While anyone can host one, the Stellar Network relies on approved nodes which have close ties to Stellar. As a consequence, stellar is not a true decentralized currency. Generally speaking, the closer a cryptocurrency is aligned with institutional investors, the more centralized it is by design. For what it is worth, Stellar is at least less centralized than Ripple.

It is debatable whether Stellar is worth its $13 billion market cap, but then the same could be said of many cryptocurrencies lurking in the top 10, including Ripple, Tron, and Cardano. In an irrational market, assets are worth whatever the next buyer’s willing to pay for them, and right now that figure is higher than the one before. If Ripple can become a $3 coin, there’s no reason why Stellar can’t continue on its rocket ride to infinity and beyond. After months of bitcoin dominance, altcoin season has returned, and it’s the penny stocks of the crypto world that are shining the brightest.

Which project do you prefer – Stellar or Ripple? Let us know in the comments section below.

Images courtesy of Shutterstock and Coincodex.

Need to know the price of bitcoin? Check this chart.

The post Stellar Rockets into the Cryptocurrency Top 10 After Tripling in a Week appeared first on Bitcoin News.

Suspended Not Abandoned? Jeff Garzik Is Reworking the Segwit2x Code

Source

The controversial scaling proposal Segwit2x may have been officially called off this August, but that doesn’t mean its former lead developer is giving up on plans to keep its codebase alive.

In fact, Jeff Garzik, better known as the CEO of blockchain startup Bloq, now believes his prior work could be revived in a way that promotes interoperability between the increasingly fragmented set of protocols bearing the bitcoin name (see: bitcoin, bitcoin cash and bitcoin gold). And in a new interview, he revealed that he is working on forthcoming updates to the software, called BTC1, with this goal in mind.

While he admits he’s not sure how successful the effort will be, Garzik nonetheless framed it as one aimed at unifying a bitcoin developer community that saw no shortage of infighting in 2017.

Garzik told CoinDesk:

“I hope that bringing multiple chains together in one software will, in some small way, bring multiple developers from multiple communities back together.”

Still, the development is notable given the software’s history in achieving the opposite.

After all, the BTC1 code is most associated with Segwit2x, a failed attempt by business and miners to change the rules of the bitcoin protocol. Forged at a meeting in New York in May, the agreement called for the block size parameter to be raised to 2MB, while also pushing for an upgrade called Segregated Witness, designed to both improve and expand bitcoin’s block size.

However, while SegWit was enacted, the block size increase, formally coded in BTC1, was officially called off not weeks before it was supposed to go live amid significant pushback and criticism from developers.

‘Bitcoin cousins’

But while a handful of new cryptocurrencies have been created out of new bitcoin software versions over the past few months, Garzik stressed that the goal of the new BTC1 iteration is not to create a new currency.

“It’s not a new chain. That’s the key innovation of BTC1,” he told CoinDesk.

Instead, Garzik’s concept relies on developing a new version of the Bitcoin Core software – the most popular implementation of bitcoin – though one in which the code can support multiple different cryptocurrencies. In this way, BTC1 will follow whatever changes are added to Bitcoin Core.

Garzik went on to compare the software to ethereum, which allows new cryptocurrencies to be issued on its blockchain, something that’s possible on top of bitcoin, though perhaps not as easy as it is on competing protocols.

“The focus will be on multi-coin support of ‘bitcoin cousins,’” he said, defining “cousins” as coins with software that shares 97 percent or more of the code with the original bitcoin software the Core developers manage.

With BTC1, as Garzik envisions it it, users won’t have to download one litecoin node, one bitcoin node and one bitcoin cash node. Rather they just download one BTC1 full node and it supports all of the chains simultaneously.

As far as what coins (of the more than 1,300 total coins that have sprung up over the years, many with code nearly identical to bitcoin’s) will be supported by BTC1, Garzik plans to be choosy, at least at first, adding only “successful” networks that have attracted significant attention from users. In his eyes, at least so far, litecoin, zcash, and maybe bitcoin cash meet these criteria.

He added:

“Since six bitcoin forks were created in December alone, it’s not realistic to support all of them.”

And he’s being strict with this stance, arguing for neutrality, saying that it even applies to United Bitcoin, a recent bitcoin fork for which Garzik serves as chief scientist.

“I would like to see United Bitcoin adopted, but by my own metric, it’s not there yet,” he said.

Beyond the coin

Garzik also plans to take the idea beyond cryptocurrencies.

Taking inspiration from Red Hat, a Linux company that Garzik worked at for more than a decade, he sees Bloq using the new BTC1 software to bridge the corporate and open-source worlds. Just as the open-source software Fedora feeds into the Red Hat product, Garzik believes an open-source BTC1 software can feed into Bloq.

In this way, Garzik claims Bloq developers won’t be the only developers working on BTC1. Garzik plans to open development up to anyone that wants to participate, including a “handful” of developers that worked on Segwit2x.

Although this idea sounds very different from the code’s original intent, Garzik argues this was always his plan – to move the BTC1 software forward whether Segwit2x succeeded or not.

He said:

“BTC1 was always supposed to be longterm. Segwit2x was always supposed to be a one and done. And BTC1 was always supposed to be the entity that continued even after Segwit2x’s success or failure.”

Yet, the new iteration of the codebase also has benefits for Bloq – which recently announced it’d be launching a cross-blockchain cryptocurrency called metronome – as well.

According to Garzik, many of the software implementations that forked off bitcoin, especially older coins, have vulnerabilities within them because they aren’t as heavily developed as bitcoin, for instance. These bugs can cause serious issues for Bloq’s current enterprise customers, and so the company would benefit from having open-source code that supports the development of different cryptocurrencies simultaneously.

To that end, Bloq and some of its customers (which will be announced in the next 60 days) are funding at least 50 percent of BTC1’s future development, Garzik said. Interoperability between coins is something many crypto enthusiasts are interested in, envisioning a future which Garzik calls a “multi-coin universe.”

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Bloq and helped organize the Segwit2x agreement. 

Jeff Garzik image via TEDx video

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Interested in offering your expertise or insights to our reporting? Contact us at news@coindesk.com.

Strong Cryptocurrency CFD Volumes Bring Record Revenues for Plus 500

Source

Strong Cryptocurrency CFD Volumes Bring Record Revenues for Plus500

The latest trading update from Plus 500 reveals a growing appetite for cryptocurrency exposure among contract-for-difference (CFD) traders.

Also Read: Ethereum Over $1000 and $100B Market Cap, BTC Dominance at 32% Record Low

Plus Bitcoin, Plus Ripple, Plus500

Strong Cryptocurrency CFD Volumes Bring Record Revenues for Plus500Plus500 Offices in Haifa

London Stock Exchange AIM-listed online brokerage Plus 500 (LON: PLUS) has announced it achieved record quarterly revenues in the final quarter of 2017 on the back of strong trading volumes in cryptocurrency CFDs. The Israel-based group also revealed it has seen increased interest throughout the year in the cryptocurrency category which it first introduced back in 2013.

Asaf Elimelech, Chief Executive Officer of Plus 500, commented: “We are pleased to announce another strong period in both revenues and profits. Momentum in the business has continued to be strong with increased interest in our cryptocurrency CFD offering and record new and active customer numbers, demonstrating our ability to serve our customers’ trading needs through product innovation and technology leadership.”

Investors Are Happy

Strong Cryptocurrency CFD Volumes Bring Record Revenues for Plus500About 246,000 new traders joined the platform (up from 104,432 new clients in 2016) during the year which saw bitcoin rise from under $1,000 to over $19,000, another record for Plus 500. As a result, the company’s board now anticipates yearly profits for 2017 will beat previous market expectations. Following this report, the stock price of the brokerage jumped by over 20% on Wednesday and over another 6% on Thursday, completing a 192% surge compared with January 4, 2017.

While cryptocurrency CFDs can expose brokers to major risks, requiring them to carefully manage their leverage, both traders and investors seem eager to have a relevant offering  on the platforms. For example, The stock price of fellow online brokerage Gain Capital increased by about 26% after it announced last month that it was adding new bitcoin derivative instruments to City Index, its UK FCA regulated brand.

Why are some traders attracted to CFDs instead of just buying the underlying cryptocurrency? Tell us what you think in the comments section below.

Images courtesy of Shutterstock.

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Strong Cryptocurrency CFD Volumes Bring Record Revenues for Plus 500 appeared first on Bitcoin News.

The Revolution is Arriving: Blockchain Gains Traction

Since 2009 a slow revolution has been brewing. The revolution, based on Satoshi Nakomoto’s bitcoin white paper and its subsequent implementation, has resulted in a new technology that in the past 12 months has created a perfect storm of interest amongst venture capitalists, companies and cryptocurrency evangelists around the globe and most significantly almost every major bank including almost all the central banks.

The blockchain is the first technology to ever gain such a significant hold on such a wide audience without delivery a concrete adopted application beyond cryptocurrencies. Why has this technology become so pervasive without even proving that it can deliver?

The first and most important aspect of the blockchain is that it transfers trust out of the corporation and into the network, where trust is maintained cryptographically and by consensus of thousands of unrelated entities. These entities provide both the rules and their application and there is no central authority to define what “Truth” or “Trust” is.

This completely upends the entire underlying concept of business. Business’ rely on trust that has been built up over many years and financial institutions are further given a special place in society for which they accept regulatory supervision. At its most basic level, the blockchain can eliminate all of these intermediaries.

Intermediaries have two choices, adapt to using the technology by adding a new value or be replaced by the technology. SWIFT is actively exploring how to use the blockchain and will continue to experiment. Tzero has eliminated the 3-day settlement process and is now ready to list company stock that can truly be purchased immediately (delivery vs. payment in industry terms).

To date, there are hundreds of examples of use cases and thousands of blockchain pilots in various stages of development. This technology is here to stay, yes it has to find it’s “Netscape” moment where the technology goes from to the main street, but in the meantime, if you don’t get involved and start learning/applying this technology someone else will eat your lunch!

The Revolution is Arriving: Blockchain Gains Traction

Since 2009 a slow revolution has been brewing. The revolution, based on Satoshi Nakomoto’s bitcoin white paper and its subsequent implementation, has resulted in a new technology that in the past 12 months has created a perfect storm of interest amongst venture capitalists, companies and cryptocurrency evangelists around the globe and most significantly almost every major bank including almost all the central banks.

The blockchain is the first technology to ever gain such a significant hold on such a wide audience without delivery a concrete adopted application beyond cryptocurrencies. Why has this technology become so pervasive without even proving that it can deliver?

The first and most important aspect of the blockchain is that it transfers trust out of the corporation and into the network, where trust is maintained cryptographically and by consensus of thousands of unrelated entities. These entities provide both the rules and their application and there is no central authority to define what “Truth” or “Trust” is.

This completely upends the entire underlying concept of business. Business’ rely on trust that has been built up over many years and financial institutions are further given a special place in society for which they accept regulatory supervision. At its most basic level, the blockchain can eliminate all of these intermediaries.

Intermediaries have two choices, adapt to using the technology by adding a new value or be replaced by the technology. SWIFT is actively exploring how to use the blockchain and will continue to experiment. Tzero has eliminated the 3-day settlement process and is now ready to list company stock that can truly be purchased immediately (delivery vs. payment in industry terms).

To date, there are hundreds of examples of use cases and thousands of blockchain pilots in various stages of development. This technology is here to stay, yes it has to find it’s “Netscape” moment where the technology goes from to the main street, but in the meantime, if you don’t get involved and start learning/applying this technology someone else will eat your lunch!

South Korea Law Firm Fights New ‘Unconstitutional’ Crypto Trading Regulations

Source

Seoul-based law firm files an appeal against recent crypto trading regulations in South Korea, calling them “unconstitutional”.

Seoul-based law firm Anguk Law Offices announced Tuesday that it had filed a constitutional appeal on Dec 30 over the South Korean government’s recent cryptocurrency trading regulations, calling them an “infringement of property rights”, The Korea Times reports.

The appeal argues that the latest government regulations of cryptocurrency trading released last week, which seek to make trading of virtual currencies in South Korea non-anonymous, are “unconstitutional”.

Anguk Law Offices argues that since cryptocurrency is not officially considered a currency or financial instrument in South Korea, there is not an applicable financial law in place to govern the trading of them.

Jeong Hee-chan, a lawyer at the law firm, told reporters that the status of virtual currencies — whether it’s property, a commodity, or another kind of asset — must be decided before regulations are put in place:

“We agree that regulations are necessary. But regulation should come after related laws are implemented. The petition is also a request for the government to respect people’s property rights and introduce regulations after reaching a social consensus.”

Recent regulations

On Dec. 28, the South Korean government announced its plans to ban the use of anonymous virtual accounts for cryptocurrency trading in an effort to “curb virtual currency speculation”, local news agency Yonhap reported.

According to The Korea Times, most crypto exchanges in South Korea currently use virtual accounts linked to their bank accounts, as they make it easier for exchanges to manage clients’ money.  

Starting as early as Jan. 20, clients will have to use only real-name bank accounts and accounts at cryptocurrency exchanges must have matching names in order to be used for deposits and withdrawals, the publication reports.

FOMO-drive “cryptocurrency mania” in South Korea was credited with Ripple’s notable growth in the past week, which propelled the altcoin to become the second largest cryptocurrency by market capitalization.

#KCN Blockchain-catalyst for scientific discoveries @SibFULive Arcona AR Ecosystem Info: coinidol…

#KCN Blockchain-catalyst for scientific discoveries @SibFULive Arcona AR Ecosystem Info: coinidol Our website: https://kcn.media/

The Siberian Federal University, Krasnoyarsk, Russia, will create a system to protect scientific intellectual property. The blockchain-platform allows authors of scientific papers to exchange research results and development results, drawings, diagrams, models and formulas. The system will automatically assign to an author the rights to the intellectual object placed by him. Users will have free access to data for the purposes of non-commercial use. The platform will be integrated with the library systems of universities, so that teachers, students and scientists will have access to it. The project implementation is designed for 3 years.



#KCN Blockchain-catalyst for scientific discoveries @SibFULive Arcona AR Ecosystem Info: coinidol… was originally published in Koles Coin News on Medium, where people are continuing the conversation by highlighting and responding to this story.

Bitcoin, Why You Should Own a Bit

Source

The crisis of 2008, which nearly crippled the financial world, was a loud and clear warning that our financial system had become a house of cards. Its integrity depended on the continued solvency of over-leveraged financial institutions.

Disclosure: This is a Sponsored Article

At the time, I was working as a Senior Data Architect in the trading room of one of Germany’s biggest banks. It was there that we witnessed up close the freezing of accounts, ATMs shutting down and credit cards deactivated. It became clear that owning physical gold and silver – not gold derivatives – was one of the few ways to reliably protect one’s wealth in such a crisis.

After the 2008 experience, I could never fully trust this financial system again as there was no guarantee that the system could be bailed out again by governments in the next crisis.

Satoshi Nakamoto, the alias used by the anonymous developer of bitcoin, must have had a similar experience, as it galvanized him/her to present a concept for a peer to peer payment model that could elegantly solve the too big to fail bank dilemma.

Satoshi’s original bitcoin white paper made it clear that Satoshi was a superb system architect who had a financial risk modelling background with an interest in complexity theory and a drive to make the world a better place.

Satoshi had embedded the text, “Chancellor on brink of second bailout for banks”, in his bitcoin genesis block (the block that started the bitcoin blockchain). It was the headline of The Times back in 3 January 2009. This was a strong indication that Satoshi’s blockchain was indeed a response to the fragility of our financial system. His decision to remain anonymous made sense in light of the enormous special interest that his design could threaten, if it ever were to be widely accepted.

Bitcoin could have easily been discarded and faded into obsurity. Yet almost nine years later, Satoshi’s theoretical alternative is published on all financial news channels and has surpassed 315 Billion USD in capitalization as of 18 December 2017. Needless to say, I feel a strong connection to Satoshi’s motives and I admire his work, the significance of which I will try to explain in this article.

Bitcoin – World’s First Trustless Ledger

In its essence, bitcoin is just a distributed ledger which allows bitcoin entries to be reliably sent from one address (akin to an account) to another without requiring a central bookkeeper. Satoshi’s key innovation was that he solved the “double spend problem” – essentially how to keep users from cheating by spending or copying the same bitcoins over and over in the absence of a central bookkeeper to prevent it.

Satoshi’s genius was inventing and combining the proof of work system, which requires the solving of mathematical riddles to make it expensive to cheat, the majority consensus rule to discard cheaters and the use of distributed computing encouraged via bitcoin mining to obtain the processing power to run it all.

When people refer to the “blockchain”, they refer to this trustless ledger implementation that was made possible by those three key innovations. Satoshi then used “bitcoin” or “BTC” as the unit of account of his trustless ledger and mathematically limited the number of bitcoins that will ever be created to 21 million, of which about 4 million have not yet been “mined”.

Because the code running bitcoin has been made public for everybody who can read code to check (open source), the system is transparent and therefore generates the trust needed for it to take off. In essence, bitcoin rules are very clear, trustworthy and remarkably simple. Open sourcing also meant that countless other entities were able to easily copy the bitcoin code and made their own version of it often hoping for quick overnight riches via, sometime questionable, ICOs.

Bitcoin can withstand systemic shocks that the financial system cannot

Bitcoin and other well designed distributed ledger systems such as Ethereum are inherently stable systems in that they can react well to systemic shocks. If a third of all processing (mining) nodes, for example, were to be wiped out due to an external event, transaction fees would increase to incentivize the creation of new nodes, which would bring the system back into balance. More importantly, wiping out these nodes would not cause any data to be lost or cause other nodes to fail as they are not directly dependent on each other to function.

Our financial system, on the other hand, has become increasingly unstable as each bank is dependent on other banks via their leveraged derivative exposures which can be hundreds of times higher than the bank’s reserves. Thus, it just takes a few banks to become insolvent for the whole banking system to be threatened via a financial contagion.

The system is like a seriously ill patient that needs to be rescued periodically with increasingly expensive bailouts and kept alive with cheap money. We can keep it going a while longer, but at some point, it is just not worth subsidizing this system anymore as bureaucracy, outdated legacy IT systems and special interests block the sweeping reforms necessary to truly change it.

On the other hand, as distributed ledgers mature they will gradually replace these old systems. PricewaterhouseCoopers (PwC), our auditor and one of the Big Four accounting companies, for example has started accepting Bitcoin as payment for their advisory services and there is growing consensus that blockchain queries could be used in place of bank statements in the future.

Satoshi’s bitcoin is indeed changing the world, making many people rich in the process and setting the stage for a shift of power away from centralized “too big to fail” banks towards distributed peer to peer systems such as bitcoin.

Physical Crypto Storage

Crypto storage has unique challenges – see how materializing Private Keys eliminates digital theft.

Bitcoin’s Monetary Characteristics

Bitcoin has become an increasingly popular method of exchange that is universally accessible, given an internet connection, and is extremely resilient and durable to disruption due to its distributed nature.

Bitcoin also has a pretty clearly defined price – 18,818 USD per BTC at the time of writing – and each bitcoin is divisible into one hundred million satoshis. So, for example, 0.02 Bitcoin is equivalent to 2,000,000 satoshis. These, along with trust, are key characteristics of money.

Furthermore, unlike most crypto currencies the issuance of new bitcoins is clearly defined in code and will be capped just short of 21,000,000 BTC by around 2140, therefore creating code enforced scarcity that makes it deflationary in nature.

This deflationary tendency means bitcoin is likely to appreciate over time, especially compared to FIAT currencies like the USD whose monetary base was increased by 450% over the last 9 years. Of note might be that bitcoin’s capitalization has now significantly surpassed the value of Australia’s M1 money supply of 357 Billion AUD – about 274 Billion USD.

Bitcoin vs. Gold and Silver

Bitcoin is similar to physical gold in that there is a limited amount, it can be held directly without intermediaries (possessing private key vs. holding a bar) and both are independent of the financial system. Both will do well when the next crisis occurs.

Of course, there are drastic differences. Gold and silver require physical storage and have a 5,000-year history of being a reliable store of value with nearly universal acceptance while bitcoin is literally just a ledger entry on a distributed network that has been invented nine years ago.

Sometimes being ethereal has advantages however, and we see bullion and bitcoin as complementary stores of value, each having their own strengths. This is why we have been making a market for converting bitcoin to gold or silver and vice versa for the last 2 years.

Over the long term it makes sense to own a bit of both crypto and bullion. Silver in particular is historically undervalued versus gold, as thesilver to gold ratio is near 80. So diversifying some of the massive crypto wealth gains into silver would be a prudent valuation move.

Bitcoin is here to stay

Bitcoin’s capitalization recently surpassed 315 Billion USD and the US, European and Asian media coverage has gone in overdrive these last few months as prices soared. However, the vast majority of people do not actually own any bitcoins and many of those who do are not intent on selling any of it.

Therefore, while bitcoin’s meteoric price increase definitely fulfills the price appreciation portion of being in a “bubble”, there seems to be plenty of hopeful buyers out there who have not bought any yet. Since a bubble will burst only once we run out of buyers there likely is still a long way to go.

Moreover, unlike the Tulip mania which the current bitcoin situation is sometimes mistakenly compared to, bitcoin is providing a truly resilient alternative to our fragile financial system and fulfills the requirements for a store of value, unlike tulips.

Bitcoin’s value will ultimately be determined by how popular it becomes as Metcalfe’s Law of Network Effects is likely to apply to bitcoin. Once bitcoin and other cryptocurrencies stop appreciating most people will not dump them the way tulips were dumped, instead they will regard them as a natural store of value.

I suspect that the transition in adopting bitcoin and other quality cryptocurrencies will accelerate further. Therefore, it is increasingly important to look beyond wallet user interfaces, understand how these currencies work and how to store them securely as over 25%* of bitcoins are believed to have been lost or stolen since it’s inception.

Consider buying a tiny bit of bitcoin and keep it for the long term, if you do not own any. If it fulfils its potential, your small investment can become quite substantial, if it crashes the loss will be small. If, on the other hand, most of your wealth is in crypto currencies, consider diversifying a bit into the stability of physical gold and silver.

For an analysis of crypto storage risks and how these can be addressed have a look at the Gregersen-Gono Standard whitepaper.

Industries and Blockchain 2017

Source

From economical efficiency, enhanced security, faster transaction speed and raising capital via ICO in 2017, Blockchain technologies began to pave the way to the future.

The first Blockchain system-Bitcoin-saw astronomical returns of over 1,300 percent in 2017. As we progressed through 2017, Blockchain technologies became hard to ignore and more of the corporate world took an interest in Blockchain technologies. In 2017, the NYSE filed for two Bitcoin ETFs with the SEC, the CBOE became the first institutional investor to launch a Bitcoin futures market and CME group followed suit a week later doing the same. But it is not only large exchanges interested in getting some skin in the Blockchain game, a multitude of industries have been interested in incorporating Blockchain technologies to make their businesses more economically efficient.

The increasing interest around Blockchain technologies in 2017 led the CTFC to release a Primer on Virtual Currencies which acknowledged that Blockchain technologies can be used by governments, financial institutions and cross-industries to optimize everyday operations via a Blockchain system.

Use cases

Blockchain technologies can be used as a store of value, in trading and payment transactions, and to transfer and move money either domestically or international at a faster speed and a lower cost than the traditional financial institution or intermediary is able to–just to name a few use cases.

Blockchain technologies have been revered for their cost-cutting, security enhancing, speed enhancing capabilities. A Blockchain system is a distributed ledger secured by a cryptographic proof of work/stake. Viz, powerful computers crack algorithms that encrypt the transaction data into each block. When a computer is able to crack the algorithm, a block full of relatively recent transactions is added to the chain, a copy of the updated ledger that has the new block is broadcasted to the other nodes–any computer connected to the network–and the nodes update themselves on the networks transaction history. If an updated ledger is broadcasted that a majority of the nodes on the network are not in consensus with, then a node will not update to retain that copy of the ledger because it is not a truthful and honest representation of the transaction data.

Record keeping

The cryptographically secured Blockchain and the system of node consensus is believed to produce a more accurate copy of the ledger than the current system of centralized record keeping is capable of.

In Blockchain: An Emerging Solution for Fraud Prevention Jun Dai, a computer scientist at California State University Sacramento argues that “altering or deleting information in the companies accounting systems, changing electronic documents, and creating fraudulent electronic files were the main methods to conceal frauds.”

In industries like accounting where human workers handle and manage tasks such as verifying records and confirming the truthfulness of transactions, it is possible that human error or individuals with ill incentives manipulate records or create fraudulent records that are not an accurate representation of transaction history.

That is why record-keeping industries like the accounting industry have been attracted to  Blockchain technologies; the Blockchain network is secured by cryptography and verified by a network of computers–not human workers. Because of this, Blockchain technologies allow a nearly tamper-proof record to be created and allows individuals to transact peer to peer without having to put their trust in a third party to honestly facilitate their transactions.

Blockchain technologies allow business operations to take place without the use of a middleman–something that was not feasible before the invention of Blockchain technologies unless individuals transacted in cash; but even cash is becoming inefficient to manage and transact with.  It is unnecessarily costly to operate a business, financial institution, or financial intermediary where human workers are doing jobs that computers are capable of handling faster, more efficiently, and with less error than human workers.  

When human workers carry out operational tasks for business, the business must pay costs associated with owning or renting infrastructure, electric, gas, and the water expense concurrent with operating infrastructure, employees salaries, paper for printers, etc. If intermediaries were able to invest or save the money that they have to put towards operating or paying for a service that can be automated by computers, it is possible for a business to become more economically efficient.

A system secured by cryptography that only needs to connect to the Blockchain network to operate can effectively diminish some of the costs associated with running a business. Blockchain technologies are capable of reducing the amount of human workers needed, reducing salary costs, eliminating the need for a business to own/rent and operate infrastructure, and making the record of data kept by the business less susceptible to fraud and manipulation.

But the Blockchain does not only allow businesses to operate over a more efficient, economical, and secure system; in 2017 we began to see Blockchain technologies change the way that businesses raise capital.  

Capital raising

An ICO– Initial Coin Offering— is a method of crowdfunding a business can use to raise capital by selling the right of ownership or royalties to a project to investors. ICOs are often likened to IPOs–Initial Public Offerings–in which businesses raise capital by selling shares of ownership in the company to investors. However, it is far easier for a company to launch an ICO than an IPO. This makes ICO an attractive option for start-ups looking to get off the ground, and gives Blockchain technology the ability to change the process of raising capital.

To launch an ICO, all a company needs to do is bring the project to a respectable technological checkpoint, publish a white-paper, and announce the date they plan on holding their token sale. No underwriting or government approval needed, compared to an IPO, in which an investment bank underwrites a business, then files with the SEC and then has to wait for the SEC to evaluate their business before the SEC finally announce an IPO date for the company.

Digital revolution, age of the Internet

Similar to the idea that offices had of going paperless to become more efficient, cut costs and enter the future by aligning themselves with the digital revolution, businesses and governments have their eye on Blockchain technologies because they seem to be leading the corporate world into the digitized future.

The economical efficiency, increased transaction speed and cryptographically secure features of Blockchain technology make Blockchain technology an attractive upgrade for businesses who incur a hefty operating cost from processes that an automated machine can handle more efficiently.

Blockchain opportunities for industries

2017 was really the first year we saw Blockchain technologies flood the mainstream’d public. Before that, only the crypto-community was concerned with Blockchain technologies. And unlike the mainstream’d public, the crypto community valued these technologies more for their utility than their speculative aspect. But nevertheless, Blockchain technologies made a positive first impression on the mainstream media in 2017. With wide adoption by businesses interested and capable of using Blockchain technologies to optimize their operations, and both the retail and institutional investor enticed by the return on investment of Blockchain technologies, it is safe to say that Blockchain technologies will be here to stay for 2018.

ICO Alert Report: SwissBorg

ICO Alert does not endorse or recommend participating in any initial coin offerings. ICO Alert receives a promotional fee for the production of this ICO Alert Report. Please click here for additional important information.

ICO Alert Quick Facts

  • Switzerland based wealth management service
  • 0.10 Swiss Franc = 1 CHSB token
  • December 7, 2017-January 10, 2018
  • 625,000,000 total available / 1,000,000,000 total supply
  • $11,000,000 currently raised; team comprised of 90+ years of investment experience

What is SwissBorg?

In a nutshell, SwissBorg is an investment platform for the crypto generation built by investment professionals. Our investment team is combining its 90+ years of experience from top investment firms with smart contracts technology to build the new future of investing.

While cryptocurrencies are a brand new and rapidly growing asset class, investment strategies used in traditional asset classes can be applied to successfully manage portfolios of cryptocurrencies.

— Anthony Lesoismier, CSO


Q&A with Anthony Lesoismier CSO | Jeremy Baumann Head of Discretionary

ICO Alert: How does the SwissBorg token (CHSB) function within the platform and why is it needed?

SwissBorg: A core feature of the CHSB Token is giving holders the ability to choose the direction in which the network will be developed. The CHSB token is used to generate a referendum token, called the “RSB token.” For each decision, the RSB token is used by the holders to make decisions on the referendum proposals. The voting power will be weighted based on the amount of CHSB tokens users hold at the time of the referendum announcement and it will not cost any CHSB tokens to vote.

The type reward will depend on the type of referendum. ETH, CHSB, or ERC-20 Tokens can be offered during referendums. Inspired by the open protocol philosophy, SwissBorg is leveraging on a new type of open protocol utility: “proof of meritocracy” to revolutionize the wealth management industry.

ICO Alert: In your whitepaper you discuss the possibility of cryptocurrencies evolving into a new asset class. Can you discuss this claim further and describe how SwissBorg will benefit from this progression occurring?

SwissBorg: As shown on the graph above, for the cryptocurrencies space to scale to the size of the dotcom bubble, widespread adoption will be needed.

It is still difficult for both retail investors and institutional investors to get access to the cryptocurrencies market as they simply don’t understand what a wallet actually is; yet there is an ever growing demand of crypto asset investment solutions.

2017 allowed cryptocurrencies to be recognized as a new active class of asset. Nevertheless, due to the technical obstacles related to the purchase of cryptocurrencies, very few people hold crypto money.

There is no less than the demand for this new active class is in constant growth. In positioning itself as a pioneer in the field, SwissBorg counts on capitalizing on the gap between the strong demand for investment products in cryptocurrencies and the very few solutions available currently.

ICO Alert: What are the problems currently facing the wealth management industry? How will SwissBorg and blockchain implmentation solve these issues?

SwissBorg: Most of the time, wealth management is reserved for an elite clientele because of the relatively high cost of operations. In using smart contract technology, SwissBorg is able to offer a large number of wealth management services.

Wealth management experts use relatively unsophisticated products with very little customization for individual clients. There again, smart contract technology allows SwissBorg to create tailored investment products that are personalized and accessible to every client.

ICO Alert: Describe the “Proof of Meritocracy” model you have based the governance of the SwissBorg platform on. What keeps certain individuals or groups from manipulating/monopolizing the voting system?

SwissBorg: We believe, in the principle of “self-governance,” and if we cannot prevent such a phenomena, in the same way as any open protocol, we are sure that the unevenness cannot last forever.

It is in the interest of blockchain, to reach a natural balance and system to the central controlling organization exposing the inefficiency of the system that tries to regulate too much.

ICO Alert: Holders of the CHSB token will have exclusive access to additional products, services, and bonuses within the SwissBorg ecosystem. Can you detail some of these products or services?

SwissBorg: As the platform develops, the spectrum of products and exclusive offers becomes bigger and bigger. For example, new index tokens will be regularly created according to demand & our assessment. CHSB holders will have a privileged access and advantageous pricing for subscribing to these products. Another example could be in payment solutions. A CHSB holder could hold a card with fewer fees or with more offered services.

ICO Alert: Potential regulation seems to be on the horizon for the entire cryptocurrency industry. You have a stated goal of being regulated in multiple countries, can you tell us which locations you are specifically targeting? Why is this an important step for the viability of your platform?

SwissBorg: The legal development is one of the most important aspects of 2018. We aim to become 100% regulated in Switzerland, of course, but also in Europe. These two arenas are our priority.

In order to achieve this, we have been making progress and are already in discussions with qualified authorities in Switzerland.

For the EU, we are currently in the process of studying the different possibilities for achieving regulation in the Union. We will inform the community as soon as we have completed our discussions.

ICO Alert: The Ethereum network has occasionally suffered from slow transaction times. Is there any concern that this may affect the SwissBorg platform?

SwissBorg: The Ethereum network is far from perfect, but we should not forget that we are in the very beginnings of this technology. We continue to have confidence in the future development of this blockchain, both in terms of innovation and in terms of better growth and security in the future. In connection with SwissBorg, we must realize that it was not the network itself that was paralyzed, but that it was hit with high density traffic. To avoid being blocked, it is enough to pay a little more “gas” (commissions), and its impact could be zero. Nonetheless, we are evolving in an as of yet imperfect system and are aware of its limitations.

ICO Alert: As a non-SwissBorg question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

SwissBorg: We believe that the ICO space will evolve to a more regulated place as well as the entire crypto space.

We believe that better structured, more professional ICOs will take place. We will see the emergence of new standards brought by regulators and investors.

For the cryptocurrency space, the same dynamics will apply as more regulation will mitigate the space. We see this as being positive as it will open the access to retail investors and allow cryptos to become an entirely separate asset class.

Therefore, we see the space maturing in a more professional, stable, and sustainable way which can only benefit everyone.

As a pioneer in this new decentralized financial reality, we are confident that in 3–5 years from now, SwissBorg would be counted as part of the world leaders in the wealth management industry.

ICO Information
The main ICO began on December 7, 2017 and will end on January 10, 2018. There are a total of 625,000,000 Swissborg tokens (CHSB) available during the main ICO, representing 62.50% of the total CHSB supply. A hard cap of 625,000,000 CHSB is set for this period.

0.10 Swiss Franc = 1 CHSB token
10% Token Bonus for remainder of ICO

Current accepted currencies for Swissborg include ETH, BTC, XRP, BCH, LTC and fiat.

Swissborg is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract and to receive the Swissborg tokens.

All CHSB token holders will have the opportunity to participate in the development of the SwissBorg network through the concept of “Proof of Meritocracy.” The community will be rewarded by voting on the most promising projects of SwissBorg’s platform.

Token Distribution Information
There are a total 1,000,000,000 CHSB tokens being created, with 625,000,000 available during main ICO.

Contributors will have their tokens distributed on January 31, 2017. Visit the SwissBorg website for more information and the contribution address.

Allocation

Use of Crowsale Proceeds

Roadmap

Team

Social Media
Facebook
Medium
Twitter
Telegram
Github
BitcoinTalk [ANN]

View the Swissborg website here.

View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.

References
(1) Swissborg Website, Swissborg (2017)
https://swissborg.com/en/index.html

(2) Swissborg Whitepaper, Swissborg (2017)
https://swissborg.com/en/index.html



ICO Alert Report: SwissBorg was originally published in ICO Alert Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

The CREDITS completed pre-ICO ahead of schedule by collecting the hard cap in the amount of $3 000…

The CREDITS completed pre-ICO ahead of schedule by collecting the hard cap in the amount of $3 000 000.

Happy to announce that CREDITS has completed pre-ICO: the hard cap in the amount of $3 000 000 was reached 5 days earlier than planned.

-Thank you all for your enthusiasm and support! — our CEO Igor Tschugunov expresses his gratitude. -We have collected enough funds to actively develop the CREDITS platform according to the road map of our project. In the nearest future we have an ICO in February 2018. The acceptable fundraising limit is 20 million dollars. This is a reasonable amount to implement such a large-scale idea.

Early closing of pre-ICO clearly showed that the project is appealing to people from all over the world. Alas, our tokens have not been caught by all persons interested!

-I try to buy your currency, and the transactions do not pass. What should I do? -Similar messages were coming to our personal mail as soon as we had completed the fundraising on the 26th.

Now we answer all those who wanted, but did not have time to contribute. At your request we started to form a White list. In order to comply with the international rules on combating crime and money laundering, the contributions will need to undergo a standard KYC (know your customer) procedure. A personal cabinet will be soon launched on the project website to accomplish that.

Keep your eyes open, the hype is so big that not everyone will be able to contribute.

The project team is actively preparing to launch the ICO and reminds the basic conditions:

Date of the ICO February 1-February 28, 2018

Total number of CS is 1 000 000 000 tokens

Token exchange rate is 1 ETH = 5000 CS (credits)

To purchase CS tokens, you must apply to our Whitelist and undergo the KYC (know your customer) procedure.

The CREDITS completed pre-ICO ahead of schedule by collecting the hard cap in the amount of $3 000…

The CREDITS completed pre-ICO ahead of schedule by collecting the hard cap in the amount of $3 000 000.

Happy to announce that CREDITS has completed pre-ICO: the hard cap in the amount of $3 000 000 was reached 5 days earlier than planned.

-Thank you all for your enthusiasm and support! — our CEO Igor Tschugunov expresses his gratitude. -We have collected enough funds to actively develop the CREDITS platform according to the road map of our project. In the nearest future we have an ICO in February 2018. The acceptable fundraising limit is 20 million dollars. This is a reasonable amount to implement such a large-scale idea.

Early closing of pre-ICO clearly showed that the project is appealing to people from all over the world. Alas, our tokens have not been caught by all persons interested!

-I try to buy your currency, and the transactions do not pass. What should I do? -Similar messages were coming to our personal mail as soon as we had completed the fundraising on the 26th.

Now we answer all those who wanted, but did not have time to contribute. At your request we started to form a White list. In order to comply with the international rules on combating crime and money laundering, the contributions will need to undergo a standard KYC (know your customer) procedure. A personal cabinet will be soon launched on the project website to accomplish that.

Keep your eyes open, the hype is so big that not everyone will be able to contribute.

The project team is actively preparing to launch the ICO and reminds the basic conditions:

Date of the ICO February 1-February 28, 2018

Total number of CS is 1 000 000 000 tokens

Token exchange rate is 1 ETH = 5000 CS (credits)

To purchase CS tokens, you must apply to our Whitelist and undergo the KYC (know your customer) procedure.

ANKORUS

The advent of blockchain technology allows for the creation of asset-backed tokens, where each token can be pegged to the value of a corresponding security held in reserve. Blockchain technology also enables the transcending of old geographical barriers to entry. Tokens can be traded online from anywhere, quickly and cheaply, and can be sold as fractionalised assets, further lowering financial barriers to entry.

Ankorus will establish an online exchange populated by any financial asset currently available worldwide. Various auditing measures will be taken to establish transparency, and customers will be able to validate that tokenised assets are fully backed and held by Ankorus. Ankorus prioritises responsive customer care as a core value.

Ankorus will enable cryptoholders to buy real world financial assets. In exchange for cryptocurrency, Ankorus will create and allocate tokens that are exactly value-pegged to their corresponding assets. The natural result we expect to be a radical disruption to the traditional financial world, which too

often serves too few.

Where some rivals simply expose their customers to assets, Ankorus will actually secure and hold them for you.

If [cryptocurrency] is a viable asset class, and the

institutions aren’t there yet … because there’s no bonafide

custodial edifice allowing institutional capital to come in,

then I believe there’s going to be a once in a lifetime move of

some number. But then it’s not going to grow from there.

So you have to be there and then.

Kyle Bass, from an interview with Real Vision.

Ankorus Mission

Ankorus will forge a vital new connection from the crypto sphere to the established world of finance, enriching both with enhanced levels of opportunity and security.

Technology and Processes

The Anchor Token system will be an alternative investment ecosystem that tokenises and makes available any financial instrument, including stocks, bonds, futures, options, gold, silver, commodities, REITs, ETFs and sovereign debt.

When our customers purchase Anchor Tokens, we will immediately purchase the corresponding asset. Ankorus, as trusted custodian, holds this asset in reserve.

Token holders can exchange their Anchor Tokens on the Ankorus token exchange, AnchorNet, or redeem their value directly from us.

Security Tokenization

Ankorus will be able to tokenise into an Anchor Token any financial asset that’s currently available. Ankorus will also take requests for Anchor tokenisation in return for a one-time tokenisation fee.

Ankorus will make available for purchase any financial assets currently traded worldwide, such as AMZN, FB, SBUX, BIDU, AAPL, US T-Bills and Bonds, USD, CHF, JPY, SPY, GLD, ZKB Gold, Crude Oil.

Creation of Anchor Tokens

  • The customer selects a financial asset to tokenise.
  • Customer pays Ankorus for their purchase in any one of a number of currencies (this will include BTC, ETH, Ripple’s XRP, BCH, Litecoin, Dash, NEO, Tether and ANK).
  • The Ankorus broker-dealer purchases the underlying securities, as selected by the customer. Orders are filled at the security’s currently traded price.
  • The equivalent value of Anchor Tokens for that security is then credited to the customer’s account in their smart wallet, minus a small fee and commission. Anchor Tokens will be credited to the customer’s wallet within minutes of receiving the order.
  • Any earnings derived from underlying securities will be either automatically reinvested back into those securities, giving the customer a larger number of Anchor Tokens, or credited to the customer’s wallet. The customer can choose which of the two options they prefer.

Ankorus is the only entity that can create or destroy Anchor Tokens, thereby maintaining their exact pegged value in line with the underlying security.

Trading Anchor Tokens

Token holders will be able to trade their Anchor Tokens for other Anchor Tokens on AnchorNet, our planned proprietary Anchor Token exchange platform (see The AnchorNet Trading Platform) and also on any other available cryptocurrency exchanges.

Accredited Bearers and Beneficiaries of Anchor Tokens

The owner of Anchor Tokens is referred to by Ankorus as the Accredited Bearer. The Accredited Bearer will be able to redeem Anchor Tokens from Ankorus or trade them on the secondary market, AnchorNet. The Accredited Bearer will be either the initial purchaser of the Anchor Tokens, a beneficiary of the initial purchaser, or a purchaser from the secondary market AnchorNet.

The Accredited Bearer will be able to nominate and identify beneficiaries to whom the Anchor Tokens are to be bequeathed. Once the Anchor Tokens have been transferred to the beneficiary, the beneficiary becomes the new Accredited Bearer.

Account Funding

Customers will pay into their accounts and redeem their holdings in either traditional fiat currency or cryptocurrency. The currency of redemption will be determined by the currency of account funding and must remain the same.

Whichever currency is used, both Ankorus and its customers are obliged to adhere to the relevant local regulations regarding financial transactions in that currency.

Fund Withdrawals

The Accredited Bearer of Anchor Tokens may redeem them directly from Ankorus, into their customer account, for the equivalent value of their underlying security. After Anchor Tokens have been redeemed, or if there is a balance of currency in a customer’s account, the customer may request for withdrawal of funds from their account.

Markets and Princing

Ankorus will create both a primary and secondary market for Anchor Tokens.

  • Primary Market. Customers buy and redeem Anchor Tokens directly from Ankorus. Orders are filled for customers according to the current market price. Likewise, tokens will be redeemed at the current market price.
  • Secondary Market. Ankorus will create an orderly market for secondary trades of all Anchor Tokens. These will be traded on AnchorNet, to be developed in Phase Three (see Roadmap). Here, customers will be able to exchange Anchor Tokens for a variety of anchored securities and all cryptocurrencies.

General Ledger

Ankorus will use a specialised general ledger to achieve the necessary high levels of security and trust required for an online exchange.

  • The general ledger will track token creation, possession, transactions and redemptions.
  • Rights of token possession will be tracked at all times.
  • All transactions that occur must be valid transactions, completed through the general ledger.

Proof of Integrity

To ensure a proper link is maintained between existing Anchor Tokens and their underlying securities, and maintain the requisite transparency of operations, Ankorus will employ various mechanisms:

  • We will be audited by the exchange.
  • We will be audited by all the necessary monetary authorities.
  • We will invite existing reputable auditors to examine our books. In addition to these measures, Ankorus customers will be able to inspect the general ledger to compare total tokens created against the total value of securities held. Daily brokerage statements will also be issued for confirmation of transactions done and securities held.

Global Gustodian

Ankorus will act as the depository for all underlying securities.

  • Ankorus, as custodian, will ensure the secure holding of all underlying securities that are purchased through any global exchange.
  • A “Proof of Asset” dashboard will be maintained in real-time at AnchorNet, enabling complete transparency.
  • The Ankorus clearing firm will provide a daily statement, available from Ankorus.
  • The custodian will be SIPC insured.

The custodian will be independently audited on a regular basis to ensure that proof of reserves match all tokens created.

Arbitration

Ankorus will be the final arbiter of all disputes regarding loss, theft or fraudulent transactions of Anchor Tokens, and will annul and reverse any invalid transactions.

Risk Management

The Anchor Token system will provide a low cost, transparent and expedited facility for the management of financial risk in a number of sectors.

Cryptocurrency — The adoption rate for cryptocurrencies such as bitcoin is still slow due principally to high price volatility and debate around how the technologies are to proceed. Anchor Tokens represent an effective solution to such uncertainties. Cryptocurrency holders seeking to lock in their value can exchange them quickly and inexpensively for Anchor Tokens, and then later on simply exchange them back to cryptocurrency again.

Fund managers, pension portfolios, all large holders of securities — As anchors can be swapped easily for other anchors, via a relatively frictionless exchange on AnchorNet, portfolios can be easily rotated.

Nations with highly volatile currency prices — Individuals in nations with volatile currencies will be able to exchange their currencies for the Anchor Tokens of more stable securities to better secure their value. If Anchor Tokens are lost or stolen, Ankorus will recreate or replace them, a service easily rendered thanks to Ankorus’ proprietary technology that allows the quick and effective circumvention of losses.

Smart Wallet

Anchor Token holders will store their tokens in highly secure and reactive Ankorus smart wallets. Ankorus smart wallets will leverage proprietary technology to achieve an unsurpassed level of security within a presently immature and predatory cryptocurrency environment. Vulnerability to hacking is vastly reduced. Smart wallets will employ Reactive Portfolio Management (RPM), providing a display that enables users to monitor in realtime the current value of their Anchor Tokens, in their chosen base currency, and the value of any held fiat currency. Account statements can also be requested. In the event of fraudulent transfer, RPM technology will automatically trigger the self-destruct algorithm built within Anchor Tokens. Further, each party will be made whole via the annulling of invalid transactions and awarding of replacement tokens.

Core Team

Token Allocation

Ankorus will begin accepting contributions on the 25th November 2017. Interested parties can contribute cryptocurrencies to Ankorus, which will be the only form of contribution accepted.

The contribution period will last for 30 days, after which the ANK tokens will be allocated to the contributors. Contributors will be able to view their contribution in their smart wallet. The “hard cap” is set at 150,000 ETH.

100 million ANKs (the maximum supply) will be created and apportioned as follows:

  • 50% available to the public.
  • 24% allocated to the Ankorus treasury.
  • 15% allocated to the Ankorus founders*.
  • 5% allocated to Ankorus advisors*.
  • 3% allocated to bounties.
  • 3% allocated to marketers costs.

* ANKs allocated to the Ankorus founders and advisors (totalling 20% of total ANKs) will be

electronically locked up for a period of 12 months. This lock up will be built into the smart contract and visible on the blockchain.

Shortly after the tokens have been apportioned, the ANK will be listed for trading on a major exchange. After a period of approximately six weeks, Ankorus will list the ANK on a further two exchanges.

The ANK will perform several crucial functions within the Ankorus “ecosystem”. Customers wishing to use the Ankorus platform must possess a minimum of five ANK tokens. Possession of ANK tokens will also count towards favourable commissions when purchasing Anchor Tokens.

For More Information :

Website : https://www.ankorus.org/

Whitepaper : https://www.ankorus.org/#whitepaper

Facebook : https://www.facebook.com/Ankorus

Twitter : https://twitter.com/AnkorusGlobal

Telegram : https://www.t.me/AnkorusChat

My Bitcointalk Profile :https://bitcointalk.org/index.php?action=profile;u=1350842

The First Complete Mobile Point of Sale System: BELUGA PAY & Mobile Point Of Sale for Entrepreneurs…

The First Complete Mobile Point of Sale System: BELUGA PAY & Mobile Point Of Sale for Entrepreneurs.

The history of development of humanity has different stages. The industrial revolution, the computer revolution and the educational revolution are just some of them which comes to our mind first and we can count lots of revolution like this. Today, we might be at the edge of an another revolution and it might be the bit chain or block chain technology. Though there are any contradictory reports and different ideas surrounding it but there is no doubt the that it is a technology which perhaps has come to stay. There are quite a few players who are making their presence felt quite strongly and Beluga Pay is one such name which needs refer. We will remake the way digitized payments made. It will assistance customers to find out more about this portal and find out something which can help the persons who wants to payment system with less cash.

“A mobile wallet service that’s a mix of Square and Stripe, is expanding rapidly with private and public clients. With half the country’s population under age 27, more than 100 million mobile phones, and only 15 percent using credit cards, it’s a potentially hugely lucrative play.” (https://www.washingtonpost.com/business/is-mexico-the-next-silicon-valley-tech-boom-takes-root-in-guadalajara/2016/05/13/61249f36-072e-11e6-bdcb-0133da18418d_story.html?utm_term=.6002e50be0e0)

short summary of the BELUGA PAY platform

· Beluga’s Banking Support System

Unlike other cryptobanks, Beluga’s products have been in the shop for quite some time. The products enjoy traditional banking support such as a partnership with one of the largest Mexican bank. Beluga has also been providing POS systems to merchants through Banorte since 2015. Through their BBI token sale, Beluga believes that it can embed crypto payments to more POS systems globaly.

· Facts About Beluga

The company is named after a Beluga whale that’s popular for its smartness and social skills which is what the company lives by.

Beluga’s IP is held by a Canadian corporation but Beluga Foundation will be opened in Switzerland which will own all the IPs , licenses and technology regarding the BBI tokens.

All unsold tokens from the ICO will be burned. The non-ICO tokens will be locked in for a period of 1 year.

As much as the company operates remotely from various parts of the globe, most of the developers work from the company’s office in Mexico.

· Products from BelugaPay

Beluga POS — There will be a rich mobile app that will accept crypto, debit and credit cards for small merchants. It will also allow you to manage customers and monitor growth.

Beluga Restaurant edition — The team also hopes to develop a tablet app that helps you manage servers, orders and the food menu.

Beluga p2p — Development of user friendly mobile app that initiates p2p payment transfers between friends.

Beluga payment data — With the BBI tokens, merchants can purchase data that allows them to view anonymous spending patterns.

· How It Works?

Can buy products or consume services from merchants using any of the products. E.g. you buy something from supermarket with Supermarket Edition BELUGA Applications.

Can make payment for product or service using Fiat Currency (ex $$ $) or Crypto currency (Bitcoin, Ether or BBI).

If payment is made by credit card in Fiat Currency, you can to use BBI token to receive Instant Merchant Deposit * instead of having to wait for the traditional ones two business days for completion occur.

If payment is made by using cryptocurrency, then The completion process begins and the payment is made to you in their respective forms Cryptocurrency is transferred instantaneously

Loyalty points accumulate for consumers on every purchase of products and services. The loyalty points for you are accumulated on every sale of products and services.

Loyalty points can be redeemed when consumers or traders collect quite a lot of points.

Loyalty points redeemed in Fiat form currency or crypto currency BBI BELUGA or other cryptocurrency

The ratio of points to the currency is calculated using built-in con? gurators and Oracles based on the market dynamics.

· Who Are Being Served by These Customers

Last year’s many government organizations and Fortune 50 companies are involved with this company. A visit to their website or by sending an email you could be able to understand more about the product and services which they offer.

· What Does the Future Look for Them?

The company which has a strong connection with Espiralapp.com and it uses its IP, partnerships, technology and also makes use of their team and licenses.

When it comes to their services, they will soon be coming out with ICOs which means Initial Coin Offerings. This is a good method for starting over for the purpose of raising sources. It also helps build a great community of supporters. It also would be great to mention that the company has raised funds from families and also from other institutions. When an entity becomes the owner of these ICOs, they can use for memberships, and they also can earn around 0.5% on all transaction payments. It also allows them to make payment at gasoline filling stations, and also become eligible for various other earnings and loyalty rewards.

· A Few More Useful Points

Since this is perhaps going to be a big move forward as far as digitalized payment systems are considered, it would be pertinent to have a look at a few more bits of information about Beluga:

It can have a live walkthrough of the products. A mail requesting such a walkthrough is all that you would need. The token that is proposed would be ERC-20 compliant. In other words, it adheres to the common list of regulation and rules that each and every Ethreum tokens have to follow. While BTC can be used to make the purchase before presale, it may not be possible for long term. The tokensale will start on December 1, 2017. If there are any unsold tokens, they will destroy.

Beluga’s mission is to make life easier for merchants: They believe it is possible to have one solution to manage payments for your business, customers and personal life.

· Beluga Point of Sale: A robust mobile app to accept debit, credit and crypto for small businesses. Manage customers and grow with actionable analytics.

· BELUGA Restaurant Edition: A tablet app to manage servers, tables, orders and food menu. Streamlined to even print out incoming orders for the kitchen.

· Beluga Peer 2 Peer: An easy to use mobile app to initiate peer 2 peer transfers with friends. Send via credit, debit or crypto and deposit the next day to your bank account.

· Beluga Payment Data: Merchants can purchase data with BBI tokens to see anonymized spending patterns from their ideal look-alike customers. Token details

ROADMAP:

  • Winter 2014: Beluga Pay’s predecessor Espiral is founded after it’s cofounders use an ATM that charges an exorbitant 10% Commission and $15 USD in fees in Sayulita, Mexico. The founders vow to create an innovative and fair company that will serve the unbanked.
  • Fall 2015: Partnership established with Mexico’s largest domestically owned bank with over $70B USD in assets. Latin America’s largest incubator NXTP and Naranya make a seed investment.
  • Summer 2016: First live transaction processed with a smartchip mobile reader.
  • Summer 2017: Over 100 merchants in mobile app private beta. This includes Pioneer — a Dupont Company (NYSE:DD) — helping farmers pay for seeds using a mobile app.
  • September 26, 2017: Beluga Pay’s Private Sale launched. Only available to whitelisted buyers.
  • November 1, 2017: Pre-sale started.
  • March 1, 2018: ICO Launch.
  • March 1, 2018: Public Beta for Beluga’s Credit/Debit Card & Crypto POS.
  • March 31, 2018: ICO ends.
  • April 1, 2018: Tokens released.
  • April, 2018: Token live on major exchanges.
  • Summer 2018: Trials with pipeline of European, African and Asian

Token
Beluga Banking Infrastructure (BBI)
Fixed Supply
100,000,000 BBI Tokens
ICO Starts
December 14 2017
Platform
ERC20 Token
ICO Ends
January 31 2018

· Conclusion

There are some details to believe that Beluga could set the road map for a thrust to digitized payment modes. It might give a chance to millions of people to use payment with less cash method. There certainly is a big chance and challenge out there. As of 2017 about 39% of the global population which is around 2 billion people have not a bank account. In developing countries this number could be more. It certainly could go a long way in increasing merchant deposit speeds to one day from three business days. It also will help the owners to become eligible for royalty points similar to that of air miles.

BELUGA PAY is Already Live!!

· over 1,000 merchants already using Beluga Pay’s platform

· 46677 transactions paid with credit card

· Thousands of potential crypto merchants around the world

· BELUGA TEAM

As you see on the below team are the fruit of teamwork in collaboration with professional managers, developers, consultants, marketing professionals who are experienced and experienced in their respective fields.

Alex AVILA: Chief Executive Officer

Alex is the cofounder of Beluga’s predecessor Espiralapp.com. Currently Alex is also a consultant for Citigroup coaching executives on best practices of blockchain technology and entrepreneurship. Alex dropped out of GADE Business School and earned a certi­cate in Design Thinking from CEDIM Design School.

Hugo Munguía: Chief Executive Officer Hugo is a full stack developer and blockchain enthusiast. Hugo is the CTO of Beluga´s predecessor and wrote its ­rest line of code, Espiralapp, and leads all technical integrations with partners and certifi­cations.Hugo graduated from Universidad de Guadalajara.

Saravana Malaichami: Chief Data Officer

Saravana is a blockchain developer and co-founder of Smartchainers. Saravana is a regular speaker at blockchain and ­fintech events in India. Saravana has over 15 years of development experience. Saravana graduated from Leichsteister University

Alejandro Muñoz: Head of Customer Happiness

Maria leads efforts in strategic account management and customer satisfaction. Maria previously managed customer accounts at Deloitte. Maria studied finance at ITESO.

Marifer Avila: Chief Financial Officer

Carlos Roca: Chief Financial Officer

Diego Gonzalez: Product Lead

Alan Milke: Software Architect

Alejandro Muñoz: UX/UI Designer

Wenndy Rodriguez : Chief Commercial Officer

Yeudiel Vazquez: Full stack Web Developer

Maty Morales: Head HR

Antonio Martinez: Full stack Mobile Developer

Oscar Cardenas: Blockchain Researcher

Ricardo Robles: Banking Operations & Relations

Leo Lopez: Full stack Backend Developer

Andrea Figueroa: Administration

Claudia Diaz: Quality Assurance

Marisol Morales: Customer Happiness

Angel Romero: Frontend

Alder Ortiz: Legal

Don Dodge

Don is currently a Developer Advocate at Google and is also an advisor to Google Ventures. Don was previously the Director of Business Development for Microsoft’s Emerging Business Team. Don is also a veteran of several startups: Forte Software, AltaVista, Napster and Bowstreet.

Arturo Galván

Arturo is currently in charge of denning and executing the growth strategy of his latest company, Naranya, in Latin America and now into other Emerging Markets of the world, including China, establishing the ­first Mobile Ecosystem designed for the realities of the emerging markets through its core platforms: Naranya Pay (a micropayment platform enabling consumers to use its mobile phone account as a digital currency), Naranya Market (a Mobile marketplace for digital goods) and Naranya Ads (mobile advertising). Arturo previously built and sold his tech company for $300M USD+.

Francisco Diaz-Mitoma Jr.

Diaz-Mitoma has over a decade of experience developing scalable online platforms and was Francisco is a software architect and cofounder of Revenue.com, Bowhead Health and Playsino. honored as a Forbes 30 under 30 in 2012. Francisco graduated from McGill University.

Kyle Kemper is an Executive Director in the Blockchain Association of Canada. An early evangelist in the Bitcoin and Blockchain communities.

Jason Carl Kline: Jason is a strategic, quantitative, and creative minded business professional, with experience as an engineer and analyst in ­financial reporting & modeling, business development, and revenue focused projects within industries, including; advertising, finance, manufacturing, consumer products, web and mobile technologies.

Lawrence Cisneros: Lawrence focuses on ensuring that merchants and clients are well protected in the Beluga ecosystem. Lawrence graduated from University of Southern California’s Gould School of Law and is an active member of the California Legal Bar.

Alex Yamashita: A former Vice President at CLSA and Goldman Sachs, Alex has invested in companies such as MapD Technologies (mapd.com) and raised capital via creative fi­nancing and lending structures for companies such as Rooftop Drones. His interest in Beluga stems from his extensive time doing business in Indonesia, high hurdles and resulting cronyism that aspects populations with a high-density of unbanked people. Alex Yamashita is crypto-enthusiast and entrepreneur/investor.

· REFERENCES:

Bitcointalk Ann Konusu: https://bitcointalk.org/index.php?topic=2270648.0

Whitepaper: https://belugapay.com/assets/beluga_whitepaper_V9.4.pdf

Twitter: https://twitter.com/belugapay

Telegram: https://t.me/belugapay

Websitesi: http://www.belugapay.com

goraset: https://bitcointalk.org/index.php?action=profile;u=158678

The First Complete Mobile Point of Sale System: BELUGA PAY & Mobile Point Of Sale for Entrepreneurs…

The First Complete Mobile Point of Sale System: BELUGA PAY & Mobile Point Of Sale for Entrepreneurs.

The history of development of humanity has different stages. The industrial revolution, the computer revolution and the educational revolution are just some of them which comes to our mind first and we can count lots of revolution like this. Today, we might be at the edge of an another revolution and it might be the bit chain or block chain technology. Though there are any contradictory reports and different ideas surrounding it but there is no doubt the that it is a technology which perhaps has come to stay. There are quite a few players who are making their presence felt quite strongly and Beluga Pay is one such name which needs refer. We will remake the way digitized payments made. It will assistance customers to find out more about this portal and find out something which can help the persons who wants to payment system with less cash.

“A mobile wallet service that’s a mix of Square and Stripe, is expanding rapidly with private and public clients. With half the country’s population under age 27, more than 100 million mobile phones, and only 15 percent using credit cards, it’s a potentially hugely lucrative play.” (https://www.washingtonpost.com/business/is-mexico-the-next-silicon-valley-tech-boom-takes-root-in-guadalajara/2016/05/13/61249f36-072e-11e6-bdcb-0133da18418d_story.html?utm_term=.6002e50be0e0)

short summary of the BELUGA PAY platform

· Beluga’s Banking Support System

Unlike other cryptobanks, Beluga’s products have been in the shop for quite some time. The products enjoy traditional banking support such as a partnership with one of the largest Mexican bank. Beluga has also been providing POS systems to merchants through Banorte since 2015. Through their BBI token sale, Beluga believes that it can embed crypto payments to more POS systems globaly.

· Facts About Beluga

The company is named after a Beluga whale that’s popular for its smartness and social skills which is what the company lives by.

Beluga’s IP is held by a Canadian corporation but Beluga Foundation will be opened in Switzerland which will own all the IPs , licenses and technology regarding the BBI tokens.

All unsold tokens from the ICO will be burned. The non-ICO tokens will be locked in for a period of 1 year.

As much as the company operates remotely from various parts of the globe, most of the developers work from the company’s office in Mexico.

· Products from BelugaPay

Beluga POS — There will be a rich mobile app that will accept crypto, debit and credit cards for small merchants. It will also allow you to manage customers and monitor growth.

Beluga Restaurant edition — The team also hopes to develop a tablet app that helps you manage servers, orders and the food menu.

Beluga p2p — Development of user friendly mobile app that initiates p2p payment transfers between friends.

Beluga payment data — With the BBI tokens, merchants can purchase data that allows them to view anonymous spending patterns.

· How It Works?

Can buy products or consume services from merchants using any of the products. E.g. you buy something from supermarket with Supermarket Edition BELUGA Applications.

Can make payment for product or service using Fiat Currency (ex $$ $) or Crypto currency (Bitcoin, Ether or BBI).

If payment is made by credit card in Fiat Currency, you can to use BBI token to receive Instant Merchant Deposit * instead of having to wait for the traditional ones two business days for completion occur.

If payment is made by using cryptocurrency, then The completion process begins and the payment is made to you in their respective forms Cryptocurrency is transferred instantaneously

Loyalty points accumulate for consumers on every purchase of products and services. The loyalty points for you are accumulated on every sale of products and services.

Loyalty points can be redeemed when consumers or traders collect quite a lot of points.

Loyalty points redeemed in Fiat form currency or crypto currency BBI BELUGA or other cryptocurrency

The ratio of points to the currency is calculated using built-in con? gurators and Oracles based on the market dynamics.

· Who Are Being Served by These Customers

Last year’s many government organizations and Fortune 50 companies are involved with this company. A visit to their website or by sending an email you could be able to understand more about the product and services which they offer.

· What Does the Future Look for Them?

The company which has a strong connection with Espiralapp.com and it uses its IP, partnerships, technology and also makes use of their team and licenses.

When it comes to their services, they will soon be coming out with ICOs which means Initial Coin Offerings. This is a good method for starting over for the purpose of raising sources. It also helps build a great community of supporters. It also would be great to mention that the company has raised funds from families and also from other institutions. When an entity becomes the owner of these ICOs, they can use for memberships, and they also can earn around 0.5% on all transaction payments. It also allows them to make payment at gasoline filling stations, and also become eligible for various other earnings and loyalty rewards.

· A Few More Useful Points

Since this is perhaps going to be a big move forward as far as digitalized payment systems are considered, it would be pertinent to have a look at a few more bits of information about Beluga:

It can have a live walkthrough of the products. A mail requesting such a walkthrough is all that you would need. The token that is proposed would be ERC-20 compliant. In other words, it adheres to the common list of regulation and rules that each and every Ethreum tokens have to follow. While BTC can be used to make the purchase before presale, it may not be possible for long term. The tokensale will start on December 1, 2017. If there are any unsold tokens, they will destroy.

Beluga’s mission is to make life easier for merchants: They believe it is possible to have one solution to manage payments for your business, customers and personal life.

· Beluga Point of Sale: A robust mobile app to accept debit, credit and crypto for small businesses. Manage customers and grow with actionable analytics.

· BELUGA Restaurant Edition: A tablet app to manage servers, tables, orders and food menu. Streamlined to even print out incoming orders for the kitchen.

· Beluga Peer 2 Peer: An easy to use mobile app to initiate peer 2 peer transfers with friends. Send via credit, debit or crypto and deposit the next day to your bank account.

· Beluga Payment Data: Merchants can purchase data with BBI tokens to see anonymized spending patterns from their ideal look-alike customers. Token details

ROADMAP:

  • Winter 2014: Beluga Pay’s predecessor Espiral is founded after it’s cofounders use an ATM that charges an exorbitant 10% Commission and $15 USD in fees in Sayulita, Mexico. The founders vow to create an innovative and fair company that will serve the unbanked.
  • Fall 2015: Partnership established with Mexico’s largest domestically owned bank with over $70B USD in assets. Latin America’s largest incubator NXTP and Naranya make a seed investment.
  • Summer 2016: First live transaction processed with a smartchip mobile reader.
  • Summer 2017: Over 100 merchants in mobile app private beta. This includes Pioneer — a Dupont Company (NYSE:DD) — helping farmers pay for seeds using a mobile app.
  • September 26, 2017: Beluga Pay’s Private Sale launched. Only available to whitelisted buyers.
  • November 1, 2017: Pre-sale started.
  • March 1, 2018: ICO Launch.
  • March 1, 2018: Public Beta for Beluga’s Credit/Debit Card & Crypto POS.
  • March 31, 2018: ICO ends.
  • April 1, 2018: Tokens released.
  • April, 2018: Token live on major exchanges.
  • Summer 2018: Trials with pipeline of European, African and Asian

Token
Beluga Banking Infrastructure (BBI)
Fixed Supply
100,000,000 BBI Tokens
ICO Starts
December 14 2017
Platform
ERC20 Token
ICO Ends
January 31 2018

· Conclusion

There are some details to believe that Beluga could set the road map for a thrust to digitized payment modes. It might give a chance to millions of people to use payment with less cash method. There certainly is a big chance and challenge out there. As of 2017 about 39% of the global population which is around 2 billion people have not a bank account. In developing countries this number could be more. It certainly could go a long way in increasing merchant deposit speeds to one day from three business days. It also will help the owners to become eligible for royalty points similar to that of air miles.

BELUGA PAY is Already Live!!

· over 1,000 merchants already using Beluga Pay’s platform

· 46677 transactions paid with credit card

· Thousands of potential crypto merchants around the world

· BELUGA TEAM

As you see on the below team are the fruit of teamwork in collaboration with professional managers, developers, consultants, marketing professionals who are experienced and experienced in their respective fields.

Alex AVILA: Chief Executive Officer

Alex is the cofounder of Beluga’s predecessor Espiralapp.com. Currently Alex is also a consultant for Citigroup coaching executives on best practices of blockchain technology and entrepreneurship. Alex dropped out of GADE Business School and earned a certi­cate in Design Thinking from CEDIM Design School.

Hugo Munguía: Chief Executive Officer Hugo is a full stack developer and blockchain enthusiast. Hugo is the CTO of Beluga´s predecessor and wrote its ­rest line of code, Espiralapp, and leads all technical integrations with partners and certifi­cations.Hugo graduated from Universidad de Guadalajara.

Saravana Malaichami: Chief Data Officer

Saravana is a blockchain developer and co-founder of Smartchainers. Saravana is a regular speaker at blockchain and ­fintech events in India. Saravana has over 15 years of development experience. Saravana graduated from Leichsteister University

Alejandro Muñoz: Head of Customer Happiness

Maria leads efforts in strategic account management and customer satisfaction. Maria previously managed customer accounts at Deloitte. Maria studied finance at ITESO.

Marifer Avila: Chief Financial Officer

Carlos Roca: Chief Financial Officer

Diego Gonzalez: Product Lead

Alan Milke: Software Architect

Alejandro Muñoz: UX/UI Designer

Wenndy Rodriguez : Chief Commercial Officer

Yeudiel Vazquez: Full stack Web Developer

Maty Morales: Head HR

Antonio Martinez: Full stack Mobile Developer

Oscar Cardenas: Blockchain Researcher

Ricardo Robles: Banking Operations & Relations

Leo Lopez: Full stack Backend Developer

Andrea Figueroa: Administration

Claudia Diaz: Quality Assurance

Marisol Morales: Customer Happiness

Angel Romero: Frontend

Alder Ortiz: Legal

Don Dodge

Don is currently a Developer Advocate at Google and is also an advisor to Google Ventures. Don was previously the Director of Business Development for Microsoft’s Emerging Business Team. Don is also a veteran of several startups: Forte Software, AltaVista, Napster and Bowstreet.

Arturo Galván

Arturo is currently in charge of denning and executing the growth strategy of his latest company, Naranya, in Latin America and now into other Emerging Markets of the world, including China, establishing the ­first Mobile Ecosystem designed for the realities of the emerging markets through its core platforms: Naranya Pay (a micropayment platform enabling consumers to use its mobile phone account as a digital currency), Naranya Market (a Mobile marketplace for digital goods) and Naranya Ads (mobile advertising). Arturo previously built and sold his tech company for $300M USD+.

Francisco Diaz-Mitoma Jr.

Diaz-Mitoma has over a decade of experience developing scalable online platforms and was Francisco is a software architect and cofounder of Revenue.com, Bowhead Health and Playsino. honored as a Forbes 30 under 30 in 2012. Francisco graduated from McGill University.

Kyle Kemper is an Executive Director in the Blockchain Association of Canada. An early evangelist in the Bitcoin and Blockchain communities.

Jason Carl Kline: Jason is a strategic, quantitative, and creative minded business professional, with experience as an engineer and analyst in ­financial reporting & modeling, business development, and revenue focused projects within industries, including; advertising, finance, manufacturing, consumer products, web and mobile technologies.

Lawrence Cisneros: Lawrence focuses on ensuring that merchants and clients are well protected in the Beluga ecosystem. Lawrence graduated from University of Southern California’s Gould School of Law and is an active member of the California Legal Bar.

Alex Yamashita: A former Vice President at CLSA and Goldman Sachs, Alex has invested in companies such as MapD Technologies (mapd.com) and raised capital via creative fi­nancing and lending structures for companies such as Rooftop Drones. His interest in Beluga stems from his extensive time doing business in Indonesia, high hurdles and resulting cronyism that aspects populations with a high-density of unbanked people. Alex Yamashita is crypto-enthusiast and entrepreneur/investor.

· REFERENCES:

Bitcointalk Ann Konusu: https://bitcointalk.org/index.php?topic=2270648.0

Whitepaper: https://belugapay.com/assets/beluga_whitepaper_V9.4.pdf

Twitter: https://twitter.com/belugapay

Telegram: https://t.me/belugapay

Websitesi: http://www.belugapay.com

goraset: https://bitcointalk.org/index.php?action=profile;u=158678

X8C — A LEAP FORWARD IN THE QUEST OF THE STABLE TOKEN

A recent article by Anatoly Knyazev goes straight to the heart of the matter for the X8 project. We could hardly have produced a better historical introduction to the X8currency. The author points out that the famous Austrian liberal economist Friedrich von Hayek opined that the biggest headwind a currency might face is volatility. Of course no holder sees the appreciation of his altcoins as a problem, but what goes up can always go down. The perennial threat and reality of inflation is another problem addressed by X8currency. To efficiently hedge against inflation capital must be continuously reallocated. The X8 project is not about value gains (and consequently value losses), as this field already provides a host of speculative instruments. X8currency tackles the problem of value preservation and has no intention to appeal to speculators and token dumpers. It will appeal to the risk-averse and everyone who dislikes inflation. And we believe there are a great many of them.

MANY ATTEMPTS AT SOLVING ONE PROBLEM

We have already written a comparison of X8C with some other tokens and also with arguably still the most popular token crypto traders resort to in downswings — the USDT. Von Hayek envisioned many different “private currencies” pegged to different commodities competing for the consumer’s wallet. Since stability is a universally recognized problem in the crypto world many projects have emerged recently under the banner of ensuring stability. Different solutions have been proposed but we can say with confidence that our particular niche is not getting crowded. In fact we stand in it alone for the reasons stated below.

VON HAYEK AND X8C

To quote from the article: “The egg of Columbus, in my opinion, is to connect a coin to a fund that holds a range of basic assets like national currencies and other commodities.” The author goes on to claim that the pegging mechanism has to be revolutionized. The reserves backing the token must be audited by an independent agent. Here X8C gets a big check. The holdings will be audited and monitored by JP Fund SA which will also transfer all data on the blockchain. Additionally, a special audit will be performed on request for a fee. Another issue the author mentions is legislative support. Here again X8C gets a check. The X8 team has been working hard to make the whole enterprise FINMA (Swiss regulatory authority) compliant.

CONCLUSION

Unlike any other token X8C is backed by an active basket. ARM (Automatic Reserve Management) AI allocates its holdings continuously amongst 8 currencies (USD, GBP, EUR, JPY, AUD, CAD, CHF, NZD) and gold. There is no human factor involved. No central planning and no room for any arbitrary manoeuvres. No board of directors and no group of fund managers will ever need to sit together and fix the ratio of the currencies in the basket. This is why only those currencies that are 100% convertible into each other have been accepted into this basket. The system responds to any kind of market movements and volatility boosts its ability to fight inflation. That is the gist of having a system — no situation should blindside you. Every contingency is covered. ARM AI is brought down only when the grid comes down altogether, with every other electrical device. A descriptive ARM AI whitepaper is available on our site.



X8C — A LEAP FORWARD IN THE QUEST OF THE STABLE TOKEN was originally published in X8currency on Medium, where people are continuing the conversation by highlighting and responding to this story.

Link Platform Beta Version is Live

Dear Link Community,

As we mentioned yesterday, today we have launched a Beta version of LNKS Silver Vault Ethereum Smart Contract System, the code is a stable version that is public at our Github.

The requirements to use this DApp are having Metamask Chrome plugin enabled, set it to Rinkeby testnet network using the arrow in the top-right and getting some Rinkeby Ether, you can get it free from here: https://faucet.rinkeby.io/ using one of your social networks.

When you trigger a new order it will have to wait in order to be approved by one of our curators so it can mint new tokens, each order will increase Token total supply overtime, due to this Token supply will not be fixed but variable overtime, Token contract is deployed on the following address: https://rinkeby.etherscan.io/address/0xe50f970a0013f2eb9fd1056d1c43ec911de3adbf .

Please send any feedback or report any bugs to our email and github account as this deployment will keep being optimized and updated continuously with new features.

You can access it via this link , thank you for following us and enjoy testing the DApp!

Link Team

Getline Whitepaper Article Series: Roadmap

We’re pleased to introduce the fifth of a series of articles based on our whitepaper. The purpose of this article series is to run through the whitepaper in layman’s terms, and make it as simple as possible to read and understand the details of what the Getline Network is, how we’ll function, how we’re structured, and how we plan to move ahead. These articles will be shortened & simplified versions of the whitepaper content. See the whitepaper for the full content.

Just as a short intro, Getline is disrupting a $1 trillion market through blockchain technology.

The Getline Network is a peer-to-peer lending market on the Ethereum blockchain. The platform will allow for instant and direct lending in cryptocurrencies. Getline will initiate a unique architecture for a credit risk prediction market to make lending safer for lenders and more accessible for borrowers. We aim to revolutionize the peer-to-peer lending market and fully decentralize it, making it easily accessible, safe, and compliant to serve as an infrastructure for a new kind of global financial system. For those of you who don’t know, peer-to-peer (or P2P) refers to the ability of two individuals or entities, to exchange value with each other directly, without the need of a middleman.

All Articles:
1st Article — Introduction, Aim, & Our Idea
2nd Article — Credit Risk Management & Loan Lifecycles
3rd Article — Competition & Challenges
4th Article — GET Tokens And Their Distribution & Crowdsale
5th Article — Roadmap

In this fifth article of the series, we’ll cover section 10, which is:

10 Roadmap

*10.1 Getline Red

*10.2 Getline Yellow

*10.3 Getline Green

*10.4 Additional Features

*10.4.1 Improved Collection Of Defaulted Loans

*10.4.2 Extended Securitization And Collateralization

*10.4.3 Additional Loan Contracts’ Features

*10.5 Our Vision For Long-Term Development

Let’s get started…

Preface
The development and implementation of Getline Red, Yellow, and Green is dependent on how much money is raised during the crowdfunding campaign. Our goal is to make the Getline Network the best platform it can become for you, the user, however this will depend on the funds raised during the crowdsale. Specific goals will be presented by the start of the ICO.

10 Roadmap

This section talks about planned milestones for the Getline Network’s development, which is not definitive, as we are pioneering new blockchain technology, so changes are very likely. Some elements of the Getline Network’s functioning may need to change to meet regulators’ demands. The plans, dates, & milestones are given for illustration only.

Below are consecutive forms of the Getline Network intended to be gradually released to the market. Getline should be fully operational at the time of the crowdsale, & we intend to commit to its further development & ongoing improvement as outlined below:

10.1 Getline Red Timeline:

16 weeks after crowdsale closes

Getline Red is an early basic version of the Getline Network, directed towards a narrow group of early adopters, most likely cryptocurrency enthusiasts. It’s very close to the current version of the Getline Network, yet it features security improvements and passes strict code security audits. Loans will be denominated in ETH only. At this stage we’ll focus on developing the back-end of the system, and ensuring that it meets the strictest security standards. We also want to open the system for other Dapp developers to allow them to use our lending standard.

  • A safe and concise loan smart contract,
  • Passing a series of rigorous security audits,
  • Announcement of a bug bounty program,
  • Release of an alpha version of the Getline front-end service, capable of:

– Displaying unfunded loans meeting Getline’s requirements,

– Issuing loan contracts to the blockchain,

– Investing in already issued loan contracts.

10.2 Getline Yellow Timeline:

32 weeks after crowdsale closes

In Getline Yellow, we’ll integrate with major identification services such as Boson.me and Civic.com with the Getline Network. This step is crucial for proper credit scoring and debt collection. We will also enable sharing of a borrower’s credit history between ARAs.

  • Integration with identity service providers,
  • Sharing of a borrower’s credit history between ARAs,
  • Interface for sharing information needed for filing lawsuits against non-paying borrowers,
  • Programmatic interface for easy integration with other Dapps, like cryptocurrency wallets.

10.3 Getline Green Timeline:

48 weeks after crowdsale closes

Getline Green will be a full fledged version of the Getline Network. It will feature a graphic web interface for borrowers making it suitable for mass adoption. By this time we expect to have several trusted ARAs set up and running in key markets.

We will actively outreach potential ARAs and assist them in joining the network. We will consider funding the Getline ARA, a flagship ARA of the Getline Network, to help establish best practices, and to exhibit the highest quality of the credit risk prediction market.

  • Announcement of the first official ARA partners,
  • Enabling of loans in ERC20 tokens, including tokens pegged to fiat currencies,
  • Funding of legal research in key jurisdictions to help ARAs to comply with local laws,
  • Establishment of the Getline flagship ARA.

10.4 Additional Features

Here we list extra features that, although they’re not part of the roadmap, might or might not be introduced by Getline in the future, depending on the level of funding we receive and the overall market dynamic.

10.4.1 Improved Collection Of Defaulted Loans

We propose a legal bounty program for entities that will manage to obtain court rulings and binding interpretations from market regulators concerning various aspects of activities of the Getline Network participants.

Although a basic version of the Getline Network will allow for manual loan collection, we’ll consider implementing advanced solutions like smart contract functions, allowing for automated auctioning of non-performing loans, or providing additional services for professional debt collectors.

  • Legal bounty program for legal loan enforcement,
  • Interface for automated auctioning of non-performing loans,
  • API for professional debt collectors allowing for the semi-automated sale of non-performing debt.

10.4.2 Extended Securitization And Collateralization

Depending on signals from the market and the level of funding received, we might explore additional methods of securitization of the loans, using on-chain ABS, MBS, and CDS contracts with automatic auctioning. This is a highly speculative goal and depends on financial regulators’ approach to such activities and technological constraints. We want to stay fully compliant and cooperate with competent regulators to ensure and verify the legality of the Getline Network’s activities.

We might also explore the possibility of the collateralization of Getline loans with real-world objects or even putting a lien on real estate. Such improvements depend heavily on local laws and might be achievable only in partnership with local lawmakers.

10.4.3 Additional Loan Contracts’ Features

Depending on signals from the market and the level of funding received, we might also implement new features to the loan contract, such as:

  1. Advanced installments,
  2. The possibility of early repayment,
  3. Guarantor,
  4. Floating interest rates,
  5. Social circle lending.

We’re also considering constructing a loan contract capable of issuing loans in BTC and other coins by utilizing the Cosmos Network or a similar technology.

Given the hopeful high accuracy of ARAs’ predictions, we may put a fraction of Getline’s GET tokens out to a market maker smart contract in order to create a liquidity guarantee.

10.5 Our Vision For Long-Term Development

We want to revolutionize the global lending market, leveraging the lowcost & trustless transfer of value over the blockchain, and self-enforcing, self-executing, smart contracts. We envision a world where a significant part of global capital is invested through borderless, instant, and low-cost loans. The low cost is achieved by the loans’ commoditization, making them standardized, divisible, and instantly available for securitization on-chain. In this world, the majority of current retail lenders would be forced to either leave the market or integrate with a decentralized economy as ARAs. After many years, even the governments, in pursuance of creditors, might have to conduct debt issuance through the Getline Network.

We hope you enjoyed this article, keep an eye out for the next article in our series,

Have a great day!

The Getline Network team.



Getline Whitepaper Article Series: Roadmap was originally published in Getline.in on Medium, where people are continuing the conversation by highlighting and responding to this story.

The San Francisco Ethereum Meetup

with a Special Presentation from the Hcash Nucleus Development Team

The event, held at the Cisco Meraki building, San Francisco, was kicked off with an introduction from Zane Witherspoon, CTO at Dispatch Labs and Founding Partner at The Bureau, followed by a word from Colin Lowenberg of Cisco Meraki.

The main event commenced with Mo Sen and John Woeltz giving a short introduction about themselves.

“We’re the nucleus team and we’ll be giving you guys some technical updates from the Hcash roadmap, and how we plan on working with, and interoperating with Ethereum, and how we hopefully have some ideas that could help be pretty good scaling solutions for Ethereum.”

They then explained the focus of Hcash; acting as a new store of value, focused on interoperability, private transactions, security, quantum resistance, with a side chain type of approach, already having implemented a protocol called Bitcoin-NG on top of the Decred Blockchain. Mo explained that he is very excited to be working with engineers from Shanghai Jiao Tong University, having seen their promising accomplishments in cryptography. He then spoke about the QRC team — technical researchers who have published papers around evaluating the feasibility of quantum attacks, and schemes on potential defense mechanisms.

The two will be leading a team of core developers, as well as a team of ecosystem developers across Silicon Valley and the US, and will be coordinating with teams across Asia to create a great product.

Mo mentioned the scaling issues with Ethereum, which came to light recently, with the Blockchain ceasing up following highly demanding ICO’s, notably, the infamous game, CryptoKitties. Bitcoin’s weaknesses were then outlined, among which high transaction fees were a main issue. He went into the potential which China brings to the FinTech and cryptocurrency community — Ethereum not having gained as much traction as Bitcoin — the team hoping to increase both the Ethereum and Hcash user base there.

He then went on to explain DAG-based cryptocurrencies, using the analogy:

“Blockchain is kind of like driving down a single-lane road, but DAG is like driving down an open, multi-lane highway.”

He then mentioned the promise such a system would have in an industry with an exponentially growing user-base, John then going into more technical details.

Mo and John will be visiting China, Korea, and other parts of Asia, to meet users, and to get an understanding of what the community wants from the project. They will be publishing whitepapers, and technical yellow papers as time goes on.

John demonstrated Hcash in action, achieving consensus after a few milliseconds from both a node, and an external client. He then launched a simple smart contract successfully, making sure to verify the balance is the same as the balance programmed into the smart contract, also transferring tokens with a receipt successfully.

Then came a panel discussion, consisted of 3 panelists, all experts in their fields:


(left to right) | Mo Sen | Nipun Gupta | Paul Neubecker | Mike Pozmanier

Nipun Gupta works with Deloitte’s innovation Partnerships team with a focus on quantum computing and cryptography. His work with exponential technologies was featured in this year’s “2018 Tech Trends Report” https://www2.deloitte.com/insights/us/en/focus/tech-trends/2018/exponential-technology-digital-innovation.html. Nipun previously worked as a security engineer with iSec Partners and PwC. He studied security at Carnegie Mellon University.

Paul Neubecker works at Softbank Capital NY. He is a founder of Blockchain Buffalo and brings an investor’s perspective to the panel. Previously, he worked as a senior associate in the banking and capital markets group with PriceWaterhouseCooper, a leading global consulting firm. He holds a CPA and a degree in finance from Fordham University.

Mike Pozmantier, a security consultant who brings a privacy perspective to the panel. He formerly managed the Transition to Practice program for the US Department of Homeland Security’s cybersecurity research: http://www.israeldefense.co.il/en/content/prime-minister-netanyahu-open-cybertech-2016. He studied at the University of Texas at Austin.

These are the opinions of the three, paraphrased, and condensed.

Paul, from an investment perspective, believes:

With the tremendous growth the industry has seen, and without any sign of it slowing down, especially from an investor’s viewpoint, issues pertaining to scalability (the ability of a Blockchain to continue to function well when its user base increases in size, in order to meet demand), and, transactional throughput (the number of transactions a Blockchain can process in a given amount of time), are of the highest concern. Most people investing in cryptocurrencies are seeing the long-term potential in terms of utility, however, without scalability, there’s no real chance for them to achieve their true value. Secondly, privacy, which represents freedom at a basic level is fundamental to a cryptocurrency. Users need to have a level of privacy in order allocate their resources with a feeling of being uninhibited by any constraints. The advent of quantum computing, no matter how far away it could be, should be kept in mind as something on the horizon. With this in mind, any type of quantum resistance in a Blockchain is purely theoretical — we do not have the means to test the functionality of a defense mechanism in the real world. With that said, it is wise to start now, while there is still time. It is interesting to consider who the populations in the world are, who will benefit from quantum resistance. Those who live in parts if the world with more fractured relationships with the nation state — as they are the most motivated and well-resourced actors in this, are to consider quantum computer resistant technology. And so, this will be something that he would prescribe a premium to — as cryptocurrencies provide an un-censorable, un-seizeable asset to the world.

It is clear that private Blockchains pose a threat from an investment perspective for publicly traded tokens. Really, the overlying issue is the conflict between an intranet and an internet. Mostly, an open, public environment will drive faster utility, provide more of a service to the market and will contain less bias. However, private (enterprise) chains are important in the short-term as we transfer into this new cryptocurrency era. So far, to truly comply with current laws, such as data storage laws and geographic information storage laws, private chains can be implemented in order to ensure trusted nodes within a specific country are being used. Ultimately, the real value will come from interoperability between public and private chains, keeping value on the main chain and transactional capacity on the private chain. This can help scale and increase adoption of Blockchain technology, at least until the public main chain architecture can handle more transactional throughput on its own.

A big thing to look out for, when selecting investments in the Blockchain market, is whether or not the project will have an incentive structure that will keep the project running in a truly decentralised fashion. This is because often, a centralised system can be faster and require less computational performance. So, there needs to be a valid reason as to why the project should run on the Blockchain (i.e. if the project acts as a method of censorship resistance, or a way of storing sensitive data that needs to be encrypted). Essentially, there is a trade-off. Companies need to show what true value they provide from implementing a decentralised system. Another positive example of a system that benefits from implementing a decentralised Blockchain is an identity platform — storing your identity in a way that is unchangeable could be revolutionary for citizens in countries suffering from civil unrest. This protects them against sovereign nations taking control of their identity. Its processes like these that are so foundational that the trade-off makes sense. Ultimately, the main factor that drives a coin’s value up is its utility. The more useful and practical a coin is, the more demand it will have, and if the supply of that coin is fixed, then its price will increase. From there, if its price keeps increasing and remains at a higher level, the coin acts as a storage of wealth. Overall though, functionality is king in this market. From what we know today, even though Bitcoin is a behemoth, the biggest Blockchain network might not even exist yet.

Mike then spoke about the security aspects and options of a Blockchain from his experience”

Currently, cryptography is the basis of most of our security systems, with a lot of the security breaches we’ve seen being a result of a lack of encryption. The level of cryptography built into a Blockchain-based, decentralised system, gives it a natural advantage in terms of security. It is most important when approached from a business perspective, as there is data in smart contracts, which companies do not want published on the chain, so when there is a capability of having zero-knowledge proofs running on smart contracts, it adds a whole layer of enabling the adoption of Blockchains and these types of technologies, which would not otherwise exist. Ultimately, the problem right now, with current technology being implemented in the Ethereum Blockchain, is that it takes too much computational power to run, resulting in heightened fees, making it unfeasible to run. There are alternatives, which may offer less computationally demanding solutions, perhaps offering a more feasible solution current methods. With the exponential growth of Ethereum’s ledger, scalability is a massive problem, with the potential of the system collapsing on itself. A cryptocurrency such as Hcash solves both issues, proposing a scalable and secure solution. The federal government has an interest in technology being developed and introduced into companies. There was a government contract awarded to Factom, to help with IoT security for customs border protection, being concerned about spoofing of sensors and cameras at the border. Factom came up with a solution on their Blockchain, to ensure traffic was indeed coming from legitimate devices.

The federal government is also heavily interested in identity management, having awarded several millions of dollars of contracts companies doing different aspects of Blockchain based identity management. There is a callout for more secure voting systems, to which a Blockchain-based voting system is a perfect solution. The applications of Blockchain will eventually be seen as common place in airports, in order to be more efficient and effective. The possibilities from this type of technology are endless, for both government and corporate applications. There’s a real chance Blockchain technology will re-architect both the web, and the way information is stored and distributed.

A big problem for the industry now is that Blockchain users need to be relatively technically proficient to understand and use its technology, so refining these systems for the layman is essential for providing a foundation for wide-spread adoption. This is when the real value will occur. A big part in refining these technologies is the introduction of connectivity. Having to hold multiple currencies for multiple projects will create an issue of inefficiency and ineffectiveness in communities. Considering most ICOs are relatively new and still in development, this isn’t a huge issue yet, but when investors finally utilise their coins, they will realise how painful, slow and confusing it is to hold ten different coins to access ten different services. To overcome this, an exchange mechanism or a universal currency needs to be adopted. Essentially, interoperability or the recently discussed atomic swaps will allow the masses to adopt these things and will in turn make Blockchain ubiquitous.

Nipun recently wrote a piece in Deloitte’s tech trends 2018 report. In a section called “exponential tech trends” — they discussed quantum cryptography.

Even though the rise of the technology is 5–10 years away, what can be expected from the rise of quantum computing, is the irrelevance of current encryption protocols. The current, most common protocols, are extremely difficult to calculate with today’s computational power. However, with quantum computers, these algorithms will cease to protect information. There needs to be work done in the space to ensure that systems are ready for this and will not be vulnerable to such computational power. Hcash is addressing this currently through research and implementation. The Shanghai Jiao Tong team recently developed the BLISS cryptographic scheme into the Decred Blockchain. The reason BLISS seems to be the best option, is because it has been around for quite a while, giving developers a chance to test and improve it, the method becoming more robust over time.

In regard to the adoption of Blockchain systems, when comparing public Blockchain networks to their enterprise counterparts, the results show an almost insignificant level of adoption occurring at the enterprise level. However, this is changing as many large companies are slowly making their debut into the industry. A recent example of this can be seen through IBMs new Hyperledger system. It also appears that in the future, more and more large businesses looking to implement a Blockchain network will end up going the private route. This is because creating a publicly available system is far to risky for these companies. There are some companies, however, that are contributing to public Blockchains, like Google, who recently implemented the New Hope quantum resistant protocol into their browser to slowly move against the rise of quantum computing. Overall, tech companies will most likely take the lead on developing public Blockchain systems, while banks will focus on private and permissioned Blockchain systems, with not much of an overlap — it is doubtful that these two will merge anytime soon.

Mo then proceeded to wrap up the panel discussion by providing an overview of Hcash and its purpose.

Hcash is improving on Blockchain technology by aiming to be an interoperable network, and its foundation is looking to collaborate with many projects such as Ethereum and other cryptocurrencies for mutual and industry benefit. Describing itself as an information carrier between Blockchains, Hcash will enable the exchange and value between differing Blockchin systems.

The project is contributing to the community, by building on top of Blockchains DAG technology. Hcash aim to heavily advance this forward, especially with research that this new Nucleus team will be working on over the coming year (specifically its privacy, security, quantum resistance and throughput mechanisms). With an ICO launch in July of 2017, this Australian Blockchain project is the first to use technology provided by the Hyperchain company. Hcash aims to achieve its ambitious goals through the implementation of what it calls its 7H’s (Hidden, Hierarchy, Hive, Hard, Haven, Hybrid and Handy). Already with numerous real-world applications, Hcash is proud to say that it is currently working with several governments, corporations, start-ups and other types of public and private businesses all across the world.

Currently its main focus is on quantum computing (hard). With the advent of quantum computers, the security of traditional public-key cryptosystems, which is one of the underlying security support technologies for the Blockchain, will be severely impaired. This will greatly damage the security of existing blockchain systems. Thus, Hcash has enlisted the help of multiple institutions, developers and enthusiasts to help prevent this from occurring. Some of these well known institutions include Macquarie University (Australia), the University of Technology Sydney (Australia), Nanyang Technological University (Singapore) and the Centre for Quantum Technologies at the National University of Singapore.

Additionally, Hcash, with the help of Collinstar Capital, have created a research laboratory with Monash University (Australia) and The Hong Kong Polytechnic University. Headed up by Dr Joseph Liu, who’s PhD thesis has been implemented in the core technology behind Monero’s security, the lab will provide the basis for building practical Blockchain-based solutions with rigorous security.

Hcash has been listed in over 20 exchanges worldwide, has a several hundred million dollar market cap, consistently trades over $10 million in daily volume, has recently released a mobile and desktop PoS staking wallet and has partnered with several Blockchain projects that run off its network. These partners include: ENT Cash (A Global Entertainment Platform) and Halal Chain (a product safety monitoring system).

In the future, Hcash hopes to be at the leading edge of innovation, while building its network out by partnering with more exchanges, Blockchain projects and research partners.

Hcash aims not only to be the best now, but to future proof its technology so that it can remain at the forefront of the industry.

The San Francisco Ethereum Meetup

with a Special Presentation from the Hcash Nucleus Development Team

The event, held at the Cisco Meraki building, San Francisco, was kicked off with an introduction from Zane Witherspoon, CTO at Dispatch Labs and Founding Partner at The Bureau, followed by a word from Colin Lowenberg of Cisco Meraki.

The main event commenced with Mo Sen and John Woeltz giving a short introduction about themselves.

“We’re the nucleus team and we’ll be giving you guys some technical updates from the Hcash roadmap, and how we plan on working with, and interoperating with Ethereum, and how we hopefully have some ideas that could help be pretty good scaling solutions for Ethereum.”

They then explained the focus of Hcash; acting as a new store of value, focused on interoperability, private transactions, security, quantum resistance, with a side chain type of approach, already having implemented a protocol called Bitcoin-NG on top of the Decred Blockchain. Mo explained that he is very excited to be working with engineers from Shanghai Jiao Tong University, having seen their promising accomplishments in cryptography. He then spoke about the QRC team — technical researchers who have published papers around evaluating the feasibility of quantum attacks, and schemes on potential defense mechanisms.

The two will be leading a team of core developers, as well as a team of ecosystem developers across Silicon Valley and the US, and will be coordinating with teams across Asia to create a great product.

Mo mentioned the scaling issues with Ethereum, which came to light recently, with the Blockchain ceasing up following highly demanding ICO’s, notably, the infamous game, CryptoKitties. Bitcoin’s weaknesses were then outlined, among which high transaction fees were a main issue. He went into the potential which China brings to the FinTech and cryptocurrency community — Ethereum not having gained as much traction as Bitcoin — the team hoping to increase both the Ethereum and Hcash user base there.

He then went on to explain DAG-based cryptocurrencies, using the analogy:

“Blockchain is kind of like driving down a single-lane road, but DAG is like driving down an open, multi-lane highway.”

He then mentioned the promise such a system would have in an industry with an exponentially growing user-base, John then going into more technical details.

Mo and John will be visiting China, Korea, and other parts of Asia, to meet users, and to get an understanding of what the community wants from the project. They will be publishing whitepapers, and technical yellow papers as time goes on.

John demonstrated Hcash in action, achieving consensus after a few milliseconds from both a node, and an external client. He then launched a simple smart contract successfully, making sure to verify the balance is the same as the balance programmed into the smart contract, also transferring tokens with a receipt successfully.

Then came a panel discussion, consisted of 3 panelists, all experts in their fields:


(left to right) | Mo Sen | Nipun Gupta | Paul Neubecker | Mike Pozmanier

Nipun Gupta works with Deloitte’s innovation Partnerships team with a focus on quantum computing and cryptography. His work with exponential technologies was featured in this year’s “2018 Tech Trends Report” https://www2.deloitte.com/insights/us/en/focus/tech-trends/2018/exponential-technology-digital-innovation.html. Nipun previously worked as a security engineer with iSec Partners and PwC. He studied security at Carnegie Mellon University.

Paul Neubecker works at Softbank Capital NY. He is a founder of Blockchain Buffalo and brings an investor’s perspective to the panel. Previously, he worked as a senior associate in the banking and capital markets group with PriceWaterhouseCooper, a leading global consulting firm. He holds a CPA and a degree in finance from Fordham University.

Mike Pozmantier, a security consultant who brings a privacy perspective to the panel. He formerly managed the Transition to Practice program for the US Department of Homeland Security’s cybersecurity research: http://www.israeldefense.co.il/en/content/prime-minister-netanyahu-open-cybertech-2016. He studied at the University of Texas at Austin.

These are the opinions of the three, paraphrased, and condensed.

Paul, from an investment perspective, believes:

With the tremendous growth the industry has seen, and without any sign of it slowing down, especially from an investor’s viewpoint, issues pertaining to scalability (the ability of a Blockchain to continue to function well when its user base increases in size, in order to meet demand), and, transactional throughput (the number of transactions a Blockchain can process in a given amount of time), are of the highest concern. Most people investing in cryptocurrencies are seeing the long-term potential in terms of utility, however, without scalability, there’s no real chance for them to achieve their true value. Secondly, privacy, which represents freedom at a basic level is fundamental to a cryptocurrency. Users need to have a level of privacy in order allocate their resources with a feeling of being uninhibited by any constraints. The advent of quantum computing, no matter how far away it could be, should be kept in mind as something on the horizon. With this in mind, any type of quantum resistance in a Blockchain is purely theoretical — we do not have the means to test the functionality of a defense mechanism in the real world. With that said, it is wise to start now, while there is still time. It is interesting to consider who the populations in the world are, who will benefit from quantum resistance. Those who live in parts if the world with more fractured relationships with the nation state — as they are the most motivated and well-resourced actors in this, are to consider quantum computer resistant technology. And so, this will be something that he would prescribe a premium to — as cryptocurrencies provide an un-censorable, un-seizeable asset to the world.

It is clear that private Blockchains pose a threat from an investment perspective for publicly traded tokens. Really, the overlying issue is the conflict between an intranet and an internet. Mostly, an open, public environment will drive faster utility, provide more of a service to the market and will contain less bias. However, private (enterprise) chains are important in the short-term as we transfer into this new cryptocurrency era. So far, to truly comply with current laws, such as data storage laws and geographic information storage laws, private chains can be implemented in order to ensure trusted nodes within a specific country are being used. Ultimately, the real value will come from interoperability between public and private chains, keeping value on the main chain and transactional capacity on the private chain. This can help scale and increase adoption of Blockchain technology, at least until the public main chain architecture can handle more transactional throughput on its own.

A big thing to look out for, when selecting investments in the Blockchain market, is whether or not the project will have an incentive structure that will keep the project running in a truly decentralised fashion. This is because often, a centralised system can be faster and require less computational performance. So, there needs to be a valid reason as to why the project should run on the Blockchain (i.e. if the project acts as a method of censorship resistance, or a way of storing sensitive data that needs to be encrypted). Essentially, there is a trade-off. Companies need to show what true value they provide from implementing a decentralised system. Another positive example of a system that benefits from implementing a decentralised Blockchain is an identity platform — storing your identity in a way that is unchangeable could be revolutionary for citizens in countries suffering from civil unrest. This protects them against sovereign nations taking control of their identity. Its processes like these that are so foundational that the trade-off makes sense. Ultimately, the main factor that drives a coin’s value up is its utility. The more useful and practical a coin is, the more demand it will have, and if the supply of that coin is fixed, then its price will increase. From there, if its price keeps increasing and remains at a higher level, the coin acts as a storage of wealth. Overall though, functionality is king in this market. From what we know today, even though Bitcoin is a behemoth, the biggest Blockchain network might not even exist yet.

Mike then spoke about the security aspects and options of a Blockchain from his experience”

Currently, cryptography is the basis of most of our security systems, with a lot of the security breaches we’ve seen being a result of a lack of encryption. The level of cryptography built into a Blockchain-based, decentralised system, gives it a natural advantage in terms of security. It is most important when approached from a business perspective, as there is data in smart contracts, which companies do not want published on the chain, so when there is a capability of having zero-knowledge proofs running on smart contracts, it adds a whole layer of enabling the adoption of Blockchains and these types of technologies, which would not otherwise exist. Ultimately, the problem right now, with current technology being implemented in the Ethereum Blockchain, is that it takes too much computational power to run, resulting in heightened fees, making it unfeasible to run. There are alternatives, which may offer less computationally demanding solutions, perhaps offering a more feasible solution current methods. With the exponential growth of Ethereum’s ledger, scalability is a massive problem, with the potential of the system collapsing on itself. A cryptocurrency such as Hcash solves both issues, proposing a scalable and secure solution. The federal government has an interest in technology being developed and introduced into companies. There was a government contract awarded to Factom, to help with IoT security for customs border protection, being concerned about spoofing of sensors and cameras at the border. Factom came up with a solution on their Blockchain, to ensure traffic was indeed coming from legitimate devices.

The federal government is also heavily interested in identity management, having awarded several millions of dollars of contracts companies doing different aspects of Blockchain based identity management. There is a callout for more secure voting systems, to which a Blockchain-based voting system is a perfect solution. The applications of Blockchain will eventually be seen as common place in airports, in order to be more efficient and effective. The possibilities from this type of technology are endless, for both government and corporate applications. There’s a real chance Blockchain technology will re-architect both the web, and the way information is stored and distributed.

A big problem for the industry now is that Blockchain users need to be relatively technically proficient to understand and use its technology, so refining these systems for the layman is essential for providing a foundation for wide-spread adoption. This is when the real value will occur. A big part in refining these technologies is the introduction of connectivity. Having to hold multiple currencies for multiple projects will create an issue of inefficiency and ineffectiveness in communities. Considering most ICOs are relatively new and still in development, this isn’t a huge issue yet, but when investors finally utilise their coins, they will realise how painful, slow and confusing it is to hold ten different coins to access ten different services. To overcome this, an exchange mechanism or a universal currency needs to be adopted. Essentially, interoperability or the recently discussed atomic swaps will allow the masses to adopt these things and will in turn make Blockchain ubiquitous.

Nipun recently wrote a piece in Deloitte’s tech trends 2018 report. In a section called “exponential tech trends” — they discussed quantum cryptography.

Even though the rise of the technology is 5–10 years away, what can be expected from the rise of quantum computing, is the irrelevance of current encryption protocols. The current, most common protocols, are extremely difficult to calculate with today’s computational power. However, with quantum computers, these algorithms will cease to protect information. There needs to be work done in the space to ensure that systems are ready for this and will not be vulnerable to such computational power. Hcash is addressing this currently through research and implementation. The Shanghai Jiao Tong team recently developed the BLISS cryptographic scheme into the Decred Blockchain. The reason BLISS seems to be the best option, is because it has been around for quite a while, giving developers a chance to test and improve it, the method becoming more robust over time.

In regard to the adoption of Blockchain systems, when comparing public Blockchain networks to their enterprise counterparts, the results show an almost insignificant level of adoption occurring at the enterprise level. However, this is changing as many large companies are slowly making their debut into the industry. A recent example of this can be seen through IBMs new Hyperledger system. It also appears that in the future, more and more large businesses looking to implement a Blockchain network will end up going the private route. This is because creating a publicly available system is far to risky for these companies. There are some companies, however, that are contributing to public Blockchains, like Google, who recently implemented the New Hope quantum resistant protocol into their browser to slowly move against the rise of quantum computing. Overall, tech companies will most likely take the lead on developing public Blockchain systems, while banks will focus on private and permissioned Blockchain systems, with not much of an overlap — it is doubtful that these two will merge anytime soon.

Mo then proceeded to wrap up the panel discussion by providing an overview of Hcash and its purpose.

Hcash is improving on Blockchain technology by aiming to be an interoperable network, and its foundation is looking to collaborate with many projects such as Ethereum and other cryptocurrencies for mutual and industry benefit. Describing itself as an information carrier between Blockchains, Hcash will enable the exchange and value between differing Blockchin systems.

The project is contributing to the community, by building on top of Blockchains DAG technology. Hcash aim to heavily advance this forward, especially with research that this new Nucleus team will be working on over the coming year (specifically its privacy, security, quantum resistance and throughput mechanisms). With an ICO launch in July of 2017, this Australian Blockchain project is the first to use technology provided by the Hyperchain company. Hcash aims to achieve its ambitious goals through the implementation of what it calls its 7H’s (Hidden, Hierarchy, Hive, Hard, Haven, Hybrid and Handy). Already with numerous real-world applications, Hcash is proud to say that it is currently working with several governments, corporations, start-ups and other types of public and private businesses all across the world.

Currently its main focus is on quantum computing (hard). With the advent of quantum computers, the security of traditional public-key cryptosystems, which is one of the underlying security support technologies for the Blockchain, will be severely impaired. This will greatly damage the security of existing blockchain systems. Thus, Hcash has enlisted the help of multiple institutions, developers and enthusiasts to help prevent this from occurring. Some of these well known institutions include Macquarie University (Australia), the University of Technology Sydney (Australia), Nanyang Technological University (Singapore) and the Centre for Quantum Technologies at the National University of Singapore.

Additionally, Hcash, with the help of Collinstar Capital, have created a research laboratory with Monash University (Australia) and The Hong Kong Polytechnic University. Headed up by Dr Joseph Liu, who’s PhD thesis has been implemented in the core technology behind Monero’s security, the lab will provide the basis for building practical Blockchain-based solutions with rigorous security.

Hcash has been listed in over 20 exchanges worldwide, has a several hundred million dollar market cap, consistently trades over $10 million in daily volume, has recently released a mobile and desktop PoS staking wallet and has partnered with several Blockchain projects that run off its network. These partners include: ENT Cash (A Global Entertainment Platform) and Halal Chain (a product safety monitoring system).

In the future, Hcash hopes to be at the leading edge of innovation, while building its network out by partnering with more exchanges, Blockchain projects and research partners.

Hcash aims not only to be the best now, but to future proof its technology so that it can remain at the forefront of the industry.

Centra ICO, Promoted by Mayweather, is Sued as Investors Request Refunds

With the proliferation of bitcoin and cryptocurrencies into the world economy, an uncountable number of startups have taken advantage of the unregulated nature of the ICO ecosystem, and now ICOs, not IPOs are the new ways to raise capital for startups.

In recent times, there have been quite many ICO projects that have gone under with millions of investors’ funds without giving back a dime to its participants. Plexcoin, REcoin, DRC and possibly Centra are some examples of ICO projects that turned out to be nothing but well-advertised scam schemes.

Centra is a multi-blockchain cryptocurrency wallet linked with a debit card that allows its holders spend their bitcoin and altcoin from all over the world. Centra raised approximately $30 million during its Pre-sale and Crowdsale organized in July and September.

The Centra ICO project was promoted by quite a number of celebrities including boxing superstar; Floyd Mayweather. Back in July, the Centra ICO looked like a project meant for the skies, but it appears it got its wings broken somewhere along the line and now, investors have dragged Centra to the court.

Centra Goes To Court

As reported by Fortune, Centra has been dragged to court by some investors who took part in its ICO. Although Mayweather is not mentioned in the suit dated December 13, the founders of  Centra Tech, Incorporated have been charged with allegations of making deceptive statements and selling unregistered securities. The lawsuit, which was filed in U.S district court in Florida, seeks a total refund of primary plaintiff Jacob Zowie Thomas Rensel and all other investors in the Centra ICO.

It is pertinent to note that in October, the New York Times reported that Centra’s claims of having established partnerships with Visa and Mastercard were nothing but lies. It was also claimed that the founders of the Centra Project were neither cryptocurrency or Blockchain technology experts nor credit card gurus and some have previously been accused of corrupt and fraudulent practices, financial negligence and drunk driving.

It also appears that Centra’s claim of Mayweather’s endorsement as being part of an ongoing business is false as the superstar boxer’s spokesman has since refuted the claim saying that Mayweather’s endorsement of Centra was just a one-off deal and that the fighter got paid in cash for it.

Celebrities like Mayweather and rapper DJ Khaled were only able to sponsor the Centra ICO project because the United States Securities and Exchange Commission (SEC) had not established its cyber crime department at that time. Mayweather also put his name to the Stoxx ICO during August 2017.

However, since the SEC’s cybercrime arm got into full action, wielding its strong hammer on fake ICO’s like Plexcoin, its operations have sounded a note of warning to entrepreneurs planning to organize fraudulent crowdfunding schemes. In November, the regulator also warned about celebrity endorsements for ICOs, stating endorsement by artists, musicians, actors or athletes, does not ensure the credibility of a purchase.

The post Centra ICO, Promoted by Mayweather, is Sued as Investors Request Refunds appeared first on BTCMANAGER.

Blockchain & Bitcoin Conference in Gibraltar: Experts to Discuss Industry Present and Future

Source

The conference will bring together about 300 participants: entrepreneurs, investors, developers as well as lawyers, financial experts and marketing specialists engaged in the digital currency and blockchain sector. Presentations will be divided into several sections.

Organizer

The Gibraltar event is one of 20 conferences held by Smile-Expo across the globe in 2018. Previous year, the international company organized two conferences recognized as the CIS largest ones: Bitcoin & Blockchain Conference Moscow and Bitcoin & Blockchain Conference Kiev. In total, they brought together 3500 attendees. In 2017, 13 other conferences of this series took place in Russia, Europe and Central Asia.

Gibraltar: focus areas

Blockchain & Bitcoin Conference Gibraltar will involve 12 speakers from various countries. According to organizers, the list of speakers is constantly enhanced, and headliners – globally renowned blockchain experts – will be announced pretty soon. The following speakers have already confirmed their participation:

Kambiz Djafari, CEO and co-founder of Edgecoin.io. His presentation “What is a token economically” is dedicated to the impact of tokenization on the society in 2016-2017 and possible changes in 2018. The expert will also delve into the classification of tokens and the use of ERC20 standard through the example of famous projects.

Mohammed Tayeb, co-founder of Medchain. The expert will focus on a single application area of blockchain – healthcare. His presentation will explain how blockchain can improve medical services.

Bogdan Maslesa, founder of Universal Crypto. He will speak about the role of blockchain in the society of the future and explain why IT specialists should learn more about the technology today.

Juan David Mendieta Villegas, Head of Keyrock, will talk about the creation of a blockchain infrastructure: how did they manage to establish more than 150 cryptocurrency exchanges and 1200 tokens in just two years, and what to expect in the future.

Christopher Emms, CEO at TokenKey, will tell how to create a successful token sale: present your product to investors in the best possible way and conduct an ICO campaign without typical errors.

Other activities

Besides speakers’ presentations, guests will be able to enjoy a range of other interesting activities. One of them is an exhibition of blockchain innovations. Its participants will show blockchain-based software and applications as well as cryptocurrency industry equipment.

All exhibitors will be engaged in the pitch session (a series of brief presentations), introducing their own projects and explaining their prospects for investors. More information about projects will be available at company stands in the exhibition area.

The conference will also include a panel discussion involving several experts who will express their opinion on critical issues. Topics and discussion participants will be posted on the website in advance.

Why Gibraltar?

In October, Gibraltar authorities announced the legislative rules for blockchain companies and cryptocurrency exchanges, introducing a project of the corresponding law.

The regulation in this sector is suggested to encourage innovations. The introductions will become effective in January 2018.

Blockchain & Bitcoin Conference Gibraltar is aimed at revealing legislative novelties, answering related questions and helping the blockchain community to organize the work efficiently according to the new rules.

More project news can be found on the website of Blockchain & Bitcoin Conference Gibraltar.

Beyond Bitcoin: How Technical Features are Fueling Altcoin Adoption

Source

Cryptocurrency’s bold march toward mainstream adoption is well underway, evidenced by skyrocketing market caps, and media saturation. It is now clear to all but the most stubborn of critics that cryptocurrency has a permanent place in global economics, and thus the race is now on to determine which platforms will emerge as the most popular. Although Bitcoin is receiving the most attention, altcoins are moving forward as well. Increasingly crypto investors are giving priority to technical qualities as they choose which coins to buy. Those cryptos perceived to be most useful, or most efficient, are rapidly becoming major players in the crypto space.

Presently, crypto is primarily adopted as a store of value rather than as actual currency to be spent. Nevertheless, mainstream adoption will involve mass transfers, and successful cryptos will need to process thousands of transactions per second. Most platforms, including Bitcoin, cannot currently handle this level of traffic. A few can, however, and investors are taking notice. The most notable of these cryptos is Iota, which due to its unique architecture is (in theory) infinitely scalable. Iota also can be transferred without network fees. Despite being available on only a handful of exchanges, Iota’s value has soared in recent weeks, moving from $1.43 on December 1 to over $5.00 today. Iota is now the sixth most valuable crypto by market cap, with a total value of over $14 billion dollars.

Iota Price December 1-20Iota Price December 1-20

Vertcoin is another crypto that has enjoyed substantial value growth due to technical advantages. Vertcoin is very similar to Bitcoin, with a notable exception being resistance to ASIC mining. This quality makes it more appealing to small-scale and beginning miners. However, its most significant advantage is its inclusion in plans for atomic swaps with Litecoin and, presumably, Bitcoin. This development, currently being tested, will enable near instant transactions across blockchains. Thus, once active, Vertcoin will be a viable substitute for any BTC or LTC transaction. This fact has pushed Vertcoin from $1.00 on October 1 to $9.00 on December 20.

Vertcoin Price October 1-December 20Vertcoin Price October 1-December 20

Among the most substantial cryptos to be boosted by perceived technical advantages is Verge, which is similar to Monero in that its focus is on anonymity. Verge claims faster transaction times and greater scalability, and was recently endorsed by John McAfee. The result has been an astounding 1,200 percent increase in value during December, presently reaching a high $.065.

Verge Price December 1-20Verge Price December 1-20

Many other cryptos are experiencing similar growth based on the notion that they are better suited for mass use. EOS and Cardano, for example, are seen by many as superior to Ethereum, and have soared in market cap. Dash has enjoyed big gains based on its long-held claim to be more useful than Bitcoin, and Raiblocks has emerged from relative obscurity because, like Iota, it can be used without fees.

Bitcoin developers have, of course, sought to upgrade the platform to compete with altcoins. Upgrading the network has, in fact, been a source of great contention between miners and developers for over two years. SegWit, and the upcoming Lightning Network promise to make Bitcoin more competitive, but it remains to be seen if these advances will enable Bitcoin to remain the flagship cryptocurrency long-term. Even with these upgrades, crypto advocates universally agree that Bitcoin’s greatest asset is its name recognition, and the fact that it remains the primary gateway for purchasing cryptocurrency with fiat. As more cryptos become commonly known, and more fiat exchanges adopt altcoin options, it is quite reasonable to assume that Bitcoin will decline in importance.

The fact that better designed altcoins are gaining market share is a reflection of the fact that the blockchain revolution underway is not limited to Bitcoin adoption. Rather, it is a movement that promises to radically improve many aspects of global economics, logistics, and management. Bitcoin was never intended to be the only cryptocurrency, but rather it was a proof-of-concept network, designed to demonstrate distributed ledger technology. In that sense, it has been a tremendous success. Competing altcoins with improved features are a natural progression of Bitcoin’s mission. In fact, the blockchain revolution would be a failure without them. 

Crypto investors are certainly wise to consider the advanced features of many altcoins, but there is still significant developments ahead that will affect all cryptos. It remains to be seen how cryptocurrency will ultimately be balanced against fiat on a global scale. There are also many more technical developments that have yet to be released. Thus, although digital assets are certain to become commonly owned over the next months and years, which specific platforms will find common usage is still very much a matter of speculation.

Feature image via BigStock. Charts via Coinmarketcap.

Bitcoin Cash Embassy to Open in Limassol, Cyprus

Source

Bitcoin Cash Embassy to Open in Limassol, Cyprus

With the launch of Bitcoin Cash (BCH) by Coinbase and Gdax, the adoption of the cryptocurrency is likely going to accelerate further. To help local users, developers, and investors meet and discuss this, there is going to be a new bitcoin cash community center in Cyprus.

Also Read: Thomson Reuters Adds Bitcoin Cash to Eikon Platform

Cash Island

Bitcoin Cash Embassy to Open in Limassol, CyprusLimassol’s First Bitcoin ATM

Limassol, Cyprus’ second city, is getting its first bitcoin cash embassy to open in early 2018. The venue will serve as an open community center where people can talk about the cryptocurrency, participate in free discussions and attend regular meet-ups with industry experts. It will be hosted by Hello Group, the fintech company which launched the city’s first bitcoin ATM a month ago.

Cyprus is an ideal location for cryptocurrency to take hold. The island servers as a regional offshore financial center for many companies from Europe, Russia and the Middle East that need cost effective solutions to transfer money across borders. Individuals are also more prone than others to see the benefits of a currency only they hold the keys to, especially with the memory of the 2013 EU ‘bail-in’ crisis still fresh. As evidence for this, the country’s University of Nicosia was the first academic institution in the world to offer a MSc in Digital Currency.

Simply Better

The main reason supporters are excited about bitcoin cash is because businesses are opting to accept it, as it is superior in performance in terms of speed and cost. One example of this comes from the founder of Goldmoney who said today he hopes the company adds BCH soon after waiting 10 hours for a BTC transaction to confirm.

Bitcoin Cash Embassy to Open in Limassol, Cyprus

Many advocates also consider BCH to be more faithful to the very idea of cryptocurrency. Yoshitaka Kitao, President & CEO of Japanese financial giant SBI Holdings, recently commented: “The vision of the original Bitcoin white paper written by Satoshi Nakamoto calls for a peer-to-peer electronic cash system. That is a powerful vision, and SBI Group will devote resources to enable a future world where Bitcoin Cash is used globally for daily payments.”

Why do cryptocurrencies even need embassies? Share your thoughts in the comments section below!

Images courtesy of Shutterstock.

Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

The post Bitcoin Cash Embassy to Open in Limassol, Cyprus appeared first on Bitcoin News.

OKEx to List ARK for Trading! (and 75,000 ARK giveaway!)

We are proud to announce that ARK is being added onto the OKEx Trading Exchange. OKEx is one of the largest and most respected cryptocurrency exchanges in the world and has a daily volume of over $1 Billion USD (at the time this article was written).

The official trading pairs at the time of listing will be:

  • ARK/BTC
  • ARK/ETH
  • ARK/USDT

OKEx will be opening ARK wallets for deposits on Dec 20, 2017 at 16:00(Hong Kong Time)

75,000 ARK Giveaway!

We also proudly announce the OKEx listing 3 Stage FREE ARK Giveaway.

STAGE 1: (25,000 ARK)

OKEx users who follow OKEx throughout social media channels (Facebook, Twitter, WeChat, Weixin) will receive a code. With this code OKEx users can join the free ARK airdrop lucky draw game on WeChat for a chance to win free ARK tokens. For more info follow OKEx on social media.

STAGE 2: (25,000 ARK)

Register a new OKEx account and get free ARK. Only Verified users who register their phone number and email will be eligible for this ARK giveaway.

*This is run by OKEx, ARK is not responsible for verification issues at exchanges.

STAGE 3: (25,000 ARK)

The top 300 Traders of ARK pairings on OKEx after 7 days of contest start will receive ARK:

1st: 3,000 ARK

2nd: 2,000 ARK

3rd: 1,000 ARK

4th — 100th: Will split 10,000 ARK

101st — 300th: Will split 9,000 ARK

*These numbers are subject to change. This contest and giveaway are run by OKEx. ARK has no control over the distribution, final numbers, or start date of this contest. ARK is not running this giveaway, nor can we answer any questions about it. This giveaway is scheduled to start December 21st, 2017. For all inquiries please contact OKEx.

About OKEx

OKEx is a leading digital asset trading platform, offering token to token and derivative trading to users globally. They currently offer more than 40 token trading pairs and 5 futures pairs. OKEx’s industry leading BTC futures trade has nearly $1.5B of volume a day and are widely regarded as the gold standard for the industry. They have served millions of customers in over 100 countries, with about 60% of users originating from China.



OKEx to List ARK for Trading! (and 75,000 ARK giveaway!) was originally published in Ark.io on Medium, where people are continuing the conversation by highlighting and responding to this story.