Blockchain Company Wants to Create Alternative Decentralized Digital Economy

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One of the things you may notice when you look around in the world is there are a lot of people making tons of money, but not doing much to earn it. Many are the ways you can make money without being a direct “producer” or taking risk, and one of these ways is working as a facilitator of trade.

These third-parties act as connectors or brokers of transactions, and in exchange get to collect a hefty commission for making the transaction possible. Right now, there aren’t very many ways to get around this. Look at a website like Amazon. For the little guy, there is no way to cut Amazon out of the equation. If you’re Nike and worth a billion dollars, then you can set up your own webstore and people will come.

One platform to buy all you can think of

Third-party platforms run the world right now, and it has worked fine so far, but at a point, you have to wonder if there is a better way to organize the economy.

One recently proposed solution to this is Pocketinns[1], which aims to disrupt this space by acting as a collection of marketplaces. Nearly anything you can think of would be available on the platform – its goal is to turn all the current monopolies on their heads by providing a safer, secure alternative platform by offering the same quality promised by these giant corporations.The company already has a home sharing and vacation rental[2] marketplace active and live in Europe with 50,000 properties and is looking at adding another 250,000 properties in the next few months and all of this happens at zero percent commission. Pocketinns looks to follow the monthly subscription model by offering multiple services on one single platform.In addition, the future vision includes building an internal financial network used to support the internal transactions which include payment processors, remittances, banking, etc.

Another part of this is the freedom of speech perspective. It is not uncommon to hear about platforms like Shopify or YouTube booting someone off, which effectively terminates a business because of a rule violation. All of your data is in your control and you have full privacy.

The unreasonably high commission present in the economy right now is an opportunity and Pocketinns aims to capitalize on it. When you are taking a piece of the pie rather than baking a new pie, the incentives become distorted and you don’t do what’s best for your users. The end goal for this company is to democratize marketplaces again

Transactions on Pocketinns will be supported by the PINNS token, which is being ICO’ed on Jan. 15, 2018 using a Reverse Dutch Auction, would play an important part of the ecosystem. This community token would be supported by a powerful internal financial network, and all transactions would be safely carried out by using it.

When a сompany skips the presale

The founders of Pocketinns have watched the ICO market[3] blow up in the last few years. They were there when Ethereum raised much more than anyone thought possible, and they have observed every bunk ICO and every successful ICO since then. As researchers, entrepreneurs, managers and tech executives, they have a strong understanding of business and technology, which has helped them get a higher-level understanding of the Blockchain industry.

The whole business of Pocketinns is about creating a marketplace where there is fair compensation for risk, and no company gets to put a de facto “tax” on every transaction just because there are no other options.

As they began to contemplate their ICO, one thing became clear: doing a presale would go directly against their message of wanting to democratize marketplaces and create an even playing field for all. One of the main principles of Blockchain technology is its ability to create a trustless network where everyone is equal, and to have only a select group be able to buy their token at a discount would violate this.

In many ways, this makes Pocketinns one of the most legitimate ICO’s that has occurred on the marketplace.  They understand that the value of the token comes into question when certain users can acquire it for less. This is why there will be no token presales or discounts offered until the ICO begins on Jan.15, which interestingly enough is a Reverse Dutch Auction where investors define the price and the same price is applicable for all investors who participate in the auction avoiding the possibilities of a pump and dump.

The lack of bonuses or “discounts” available in a presale is just one example of the prudent decision-making the founders of Pocketinns are using.

If Pocketinns manages to accomplish their mission, users will be able to trade any product or service through their platform, but without having to deal with a third-party fee. Everything from creative work to real estate would be managed through their protocol and there would be no more “tax” from companies who just want a piece of your pie!

Will Bartlett, Guest Author

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

As Critical Elections Approach, African Youths Gaining Political Voice Through Blockchain

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There is a yearning for the younger generation to step up and take the mantle of leadership across the various fields of endeavour in Africa. With an average age of 78.5 years, Africa remains the continent with the oldest set of national leaders. This is a big factor behind the under-development of the second largest continent on earth.

Going against the establishment

The campaign for newbreed industry and political leaders is getting louder especially as the largest country in the continent, Nigeria, prepares[1] for its general election. The election is scheduled to take place in less than 15 months from the time of writing.

Pushing out the old brigade in the politics seems insurmountable is a lack of youths in leadership posts in Africa. These young people are starved of necessary capacity to compete effectively. Migration in search of greener pastures has also had its toll on the youth of Africa and is chipping away at the continent’s supply of next generation of leaders.

Taking responsibility

The emergence of Blockchain technology, coupled with its decentralized and non-regulated approach presents a breakout opportunity for a generation that is yearning to be heard. Across the African continent, almost all Blockchain startups and related technologies are pioneered by youths between 20 and 45 years of age. The revolution[2] that awaits appears to lie on the bedrock of Blockchain technology. Young Africans in huge numbers are charting new courses without relying on the controlled systems of previous generations.

Sensitization, awareness and education are tools that have been embraced by groups around the continent to initiate the emancipation process[3]. Just recently, a group of young Nigerians known as Dash Squard organised a music and cultural festival[4]. The two-day event which registered about 800 attendees involved performances by local artists, but increasing awareness about the digital currency Dash[5] was the crux of the matter. Participants had Dash wallets set up on their mobile devices and were taught how to transact, with tickets and prizes denominated in Dash.

Event organizer Oluwajuwon Micheal said:

“We opened a total of 300 new Dash wallets and also sent [each] of them Dash worth about $5, which everyone used in buying food, drinks and wares at the event. We also trained over 50 vendors that came for our event on the benefits of Dash and how they can send and buy Dash. We introduced Dash to the local artists that came for the events, and all of them were paid in Dash. Just two decided to sell some part of their Dash.”

Gradual but steady revolution

The Cryptography Development Initiative of Nigeria (CDIN), led by Adeolu Fadele, is another group that is comprised mainly of young Africans focused on Blockchain as a tool for development across Africa. Having held its first ever conference in November 2017, the group is involved in various educational and awareness programs. It is also setup to collaborate with government agencies and professional institutions towards realizing Blockchain implementation.

Other groups young Africans to find their voice[6] include eBitcoinics, led by Nawaf Abdullah, and Blockchain Nigeria User Group, founded by Chimezie Chuta.

The fact that it is taking so long for the younger generation to find relevance may not call for so much celebration. However the hope that it brings signifies a future of possibilities powered by technological advancement. The good thing about this development is that it remains an exclusive reserve of the next generation who can no longer be bullied out of the system by their current set of leaders.

Apparently, there is indeed a future for the African continent which can no longer be taken away from those to whom it belongs.

Alternative Blockchain Uses: Elections, Product Reviews and Fraud Prevention

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Decentralization and its effect on the economy is a controversial topic that has pervaded discussion throughout online communities as well as mainstream and alternative media outlets thanks, in part, to Bitcoin’s roller-coaster ride throughout 2017[1].

This phenomenon has also threatened the infrastructural payment processing monopolies whose power has traditionally owed to their near-absolute control over transaction processing, authorization and governance.

Just like this effect of cryptocurrency on wealth and economy: Blockchain solutions when used for rating/voting systems has the potential to return political and democratic power to the hands of the voting citizens[2] if implemented correctly as a method for vote processing and verification.

Fraud claims and electronic voting machines

Election Fraud has been in the news lately due to the recent US state election in Alabama, which resulted in a (disqualified) legal contest from losing Republican candidate Roy Moore. A significant and controversial talking point surrounding the election was the state’s ruling prior to the casting of votes, to erase all electronic votes, thus eliminating the option for a re-count on the event of a dispute such as this.

Proving that this repeat issue should be a bipartisan one: the same thing happened earlier this same year. In June, the state of Georgia deleted their electronic voting records after an election which resulted in the election of a Republican.

Some have argued these instances can be attributed to flaws in either the hardware or software, exposing vulnerabilities to incidents such as technical faults or tampering, thus damaging the integrity of the data produced.

The current landscape of Blockchain security

Dealing with a concept as foreign as decentralized regulation of central government, we need to ensure that the argument for an alternative is both compelling and consistent if anything is going to change. In light of this, we must also consider how (and whether) a proposed Blockchain based solution would be capable of providing a sufficient standard of protection for highly confidential information.

The risk of malicious attacks executed by external parties is an endemic concern faced by Blockchain users and ICOs. The vulnerability has also been known to extend to internal cases, such as the accusations that have led up to the ongoing insider trading scandal at Coinbase, which has in particular helped to highlight the real threat that these bad actors pose to the crypto economy[3].

Because of this, these new token creators need to exercise extreme due diligence when creating their infrastructures in order to cover themselves and most importantly the customers: who need to be made to feel as secure as possible when investing time and money into risky ventures such as an ICO. Many Blockchain innovators are wisely diverting a large amount of resources to fill these security gaps: implementing comprehensive preventative and reactive strategies based on a combination of process and technology-driven solutions.

Parity begins at home

It may appear to be a long way from becoming a tool for fighting political corruption but as a real-life case study: Zurich, Switzerland based Lina make a strong proposition with their unique MVP, which aims to reduce unethical practices in the review sector. Arguably, the core benefits that their current system proposes to deliver are applicable to a range of uses beyond just reviews: primarily data integrity, traceability and transparency.

Lina aims to become the world’s first community-driven “tokenized” user review system with practical applications that range from household goods to digital media such as video-games. Their system’s objective is to resolve the discrepancies that plague online reviews including unreliable write-ups from paid reviews or the company’s own staff; greater demand for customer reviews than there is supply, and the prioritization of quantity and aggregate scores over quality assessments from prolific reviewers.

As a user review platform ‘Lina.review[4]‘ is quite possibly the first market offering of its type. It would be great to see where their project goes and whether they get the partnerships that would help launch their project into the mainstream discussion.

They have truly put the proverbial horse before the cart with this successful platform which was established long before the announcement of their ICO[5], which is set to launch on Jan. 15, 2018 –  suggesting that they have tested the system thoroughly, as they claim to look after a worldwide community of users.

Daniel Mitchell, Guest Author

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Decentralized Car Sharing Platform Aims to Lead the Blockchain-based Rental Market

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Looking around at the world, trust is probably the thing that is most lacking in our current business environment. Technology is at a strange middling capability, where it can do a lot more, but we never have any strong way of verifying who is on the other end of a transaction.

The emergence of companies like Craigslist and eBay saw many people gain seemingly random connections with others by doing business through the Internet, but it also saw an increase in fraud and worse. These were made possible by the faceless interactions that occurred through new connections made over the Internet, and the result was a populace that was mistrustful of any sort of business being carried out completely through the Internet.

Many people were afraid to use their credit cards online for the longest time. The general opinion was that you would almost definitely get ripped off if you did so, and this made difficult for many companies to establish themselves.

If people want someone to trust in a business interaction with a massive company, then it should be realized that this feeling applies doubly to the peer-to-peer (P2P) market. Doing deals with someone you have never met requires some level of “trust” that most people are too jaded to have.

Blockchain sharing economy

This is where Blockchain technology[1] factors in. The P2P market can benefit greatly from implementing Blockchain technology so that nobody needs to take a leap of faith, and can instead just depend on the quality of the technology verifying the trust.

With the advent of companies like Uber and Airbnb[2], the sharing economy truly is beginning to take over the world, but some barriers are preventing it from scaling out in other sectors like the car-sharing industry. The world is experiencing lower demand for car ownership and a higher demand for car sharing, but trust has become a barrier to scaling this out.

Darenta[3] is a company that thinks they can beat this problem by applying Blockchain technology to create a solution that allows for users to share their cars with ease. The end result will be a safer experience for customers where they can trust each other not to rip them off.

If things go according to plan, Darenta could end up being the largest international platform for car rentals on Blockchain in the world. The basic idea is that private car owners can rent out their insured cars over the car sharing IT platform. The project depends upon a mobile solution which employs geolocation, smart contracts and other Blockchain technology.

Darenta

Driving the future

Car ownership has dropped as more alternatives have emerged, but there is still a need for cars in the world. Car sharing can work to significantly reduce the number of cars on the road, which would free up more parking spaces and improve the ecology of Earth at the same time.

The Darenta ICO[4] is currently underway, and Productoken is attracting vast amounts of crypto funds and backers. The token adds a new level of functionality to the service since it helps car owners earn more and token holders apply discounts.

Around three months after the completion of the ICO, ProducTokens will be permitted to be used in calculations for rent, as well as for encouraging customers to participate in the ecosystem. This participation adds value in the same way that Amazon reviews improve the entire platform experience and have made Amazon the first choice for those looking to buy goods online. Tokens only make sense when they have a use case, and it is clear Darenta’s ProducToken fulfills this condition.

Darenta

Will Bartlett, Guest Author

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Interview With John Patrick Mullin: Blockchain is a Global Community

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John Patrick Mullin is an investment banker, speaker, writer and a big fintech and edtech enthusiast. Senior research analyst at the Guotai Junan Securities & Finance Institute, John currently focuses on fintech, covering AI/ML, Blockchain and cryptocurrencies, P2P lending, etc.

In his spare time, he serves as a community partner for the FinTech Connector. He is also advising several Blockchain companies in Hong Kong, Switzerland and the US. He writes about his experience working in the Chinese financial sector for LinkedIn China, and about cryptocurrencies and fintech innovation for Cointelegraph.

We caught John at the BlockShow Asia to talk about those issues which are usually not discussed by him as a Cointelegraph author[1] – his background, travels, education and personal views on the development of the community.  

Cointelegraph: We’re here today with John Patrick Mullin, community partner at FinTech Connector. Community, connector- how do you actually feel yourself, which role do you play?

John Patrick Mullin: Yes, sure. Let me maybe explain what FinTech Connector is as a whole. FinTech Connector is a global community of fintech-minded people. It was founded by a guy named Angel Lorente in New York. It was born out of the MIT fintech coworking community. They sit in the class, and Angel, who works in Morgan Stanley, started doing meet-ups locally in New York City, where he was working. First, it started with just two people talking in a bar about fintech, which ended up growing within the first month to 30 people. Now, we are actually 19 cities, 19 communities in 13 countries – that’s within just one year. Our mission is to try to connect the global fintech community through our local leadership, I would say. We are connecting innovators with our fintech entrepreneurs, start-ups with the experts of fintech, veterans, people who have capital, technology, etc.

We’re doing it on a global scale. The problem we are trying to solve is really that you have a lot of fintech communities, but they are regional, very localized, but we’re global already. We’re in every continent except for Australia and Arctic, but Australia is coming very quickly. That’s kind of what we are trying to do. It’s really about what we are trying to do on a local level, I mean, I’m heading up the local Shanghai FinTech Connector together with my partner Rold. We try to educate, nurture, develop, and do events to build a community locally to be able to better support our global ambition, I suppose.

CT: Well, that’s a great initiative. We are here at a community gathering in Singapore. How do you feel being at BlockShow Asia and how do you find this community that gathered today?

JOHN: So far, very good, honestly. Thank you very much for having me first. I actually write for Cointelegraph, so very happy to be a part of not only the writing community of Cointelegraph but also at the Blockshow which is an offline event. FinTech Connector has a Singapore cowork, and we’re here today which is very cool as well to for me to be able to see them. It was really good to be a part of and see how me being in Shanghai is able to connect with people in Singapore as well. You see how small the community is, everyone knows each other, but it’s a close-knit community and it’s always good to work together, to be the intelligence of fintech, of Blockchain, cryptocurrencies, etc.

CT: Do you think there are differences between communities in different places? I mean, in Asia, in Europe, in the US?

JOHN: Oh, 100 percent! Even in China. China is a very, very big country. You see differences just between Beijing and Shanghai. It’s very regionalized, it’s very localized and there are definitely differences in how people act, what you’re looking at. Hong Kong has one way of being within the fintech community, Singapore has another one. China is very, very different as well. I am personally a little bit Asia-centric, although I am from the West, I just haven’t lived there for a while. But you’ll definitely see differences depending on where you’re going to be.

CT: You mentioned MIT. Is it your background?

JOHN: I did not go to MIT. MIT had an online fintech course called The Future of Commerce and it was about big data analytics. Together with EdX, it started to get smarter. They did that, I guess, two years ago. Most recently, they partnered with Oxford, so they do Oxford fintech course. Actually, I am taking part in it right now. It’s quite an interesting course so far. It’s really good for networking connections. I even met with some of my Oxford colleagues here today who posted it on our little Telegram group which is pretty cool. I met up with people down in Hong Kong. I met with even some of the professors who came from Shanghai. It’s really a great opportunity to network with people from the fintech community and I put some theoretical backing just to a general understanding of fintech.

CT: Speaking of academia and fundamental inspiration. What was your recent reading that inspired you the most?

JOHN: The recent reading that inspired me the most… Uh, good one! To be honest, this is maybe not so specific to Blockchain and cryptocurrency, but one of my favorite personal books… Well, actually, I have two. The first one is “Dealing with China” by Henry Paulson, who was a former Goldman Sachs CEO and then Treasury Secretary under George W. Bush. He talked about his experiences and how he did business with China – and this is really inspired a lot of things I’m doing. The second one would be “One Hour in China” book by Jeffrey Towson and Jonathan Woetzel. Jeffrey Towson is a professor at Beijing University, Peking University and Jonathan Woetzel is a partner at McKinsey in Shanghai. They wrote a book that condenses everything you need to know about China into one hour. It started inspiring me to write a lot about Chinese consumers. I do a lot of writings. I write for LinkedIn China, I write for Cointelegraph. Those two books formed me in what I’m trying to do.

CT: Interesting. Do you speak Chinese?

JOHN: [speaks Chinese]. That’s probably my limit, in fact, I must say. I need to work on it.

CT: You have a nice accent.

JOHN:  [laughing] Thank you! China is my fifth country. I was born in the US, I went to school in Spain for four years, I lived in Belgium for a little bit, I lived in Germany, and most recently China flipped past two and a half. If I’ve ever been around the world, I would definitely say I am a global citizen at this point. I haven’t lived in the US for the last eight years now, so been around and I’m always looking for a next adventure, I suppose.

CT: Interesting. I think that is where the Blockchain is. A global community and it’s great.

JOHN: It really is a global community!

CT: Thank you very much for being here with us today.

JOHN: My pleasure!

Check out another Cointelegraph interview with John Patrick Mullin on fintech trends and Blockchain technology:

Can Online Gambling Ever Become Safe and Transparent Business?

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If there is a business out there that is in need of more transparency and reliability, it is probably the $500 bln online gambling industry. The latest company to join the Blockchain frenzy is the decentralized LetBet Platform. Its premise is quite simple, allow players to gamble without third-party meddling. In other words, engage in bank-free and central authority-free betting.

The seasoned LetBet team is aiming to revolutionize the online gambling industry by creating a holistic gambling ecosystem for an enhanced betting experience.To that end, the team is utilizing peer-to-peer smart contracts for online gambling[1], catering to the needs of players and third-party developers alike. LetBet promises to be secure, reliable and fast. While competitors are focusing on playing a bookmaker role, LetBet is creating a holistic decentralized online gambling platform that will connect traditional online gambling sites.

Online gambling overhaul

Enabled through the advent of the Internet in the early 1990s, online gambling achieved astounding growth over the past few decades. The multi-billion dollar industry shows no signs of slowing down with projected[2] growth to one tln dollars by 2021.

It is not a secret that existing online betting platforms are ridden with problems. There are concerns about security, reliability, speed, deposits and withdrawals as well as player discernment. The LetBet Platform tackles these issues by utilizing Blockchain technology.

In terms of security, conventional platforms use centralized servers that are easy to hack. In contrast, decentralization makes it nearly impossible to lose funds or personal information through hacking. While conventional platforms require excessive personal information for vetting users slowing down the process of creating accounts and playing, using Blockchain technology has eliminated the need for superfluous data collection, which ensures faster more facilitated access for users. LetBet guarantees anonymity to its players.

Additionally, deposits and withdrawals are problematic for users, with legislatively imposed limits on fiat transfers and deposits, defaulting, and the arduous process of withdrawing funds in case of server shutdown. Relying on a native cryptocurrency for deposits and withdrawals, the LBT coin and smart contracts, LetBet resolves these issues.

Finally, remote online betting poses an issue for players as the identity of opposing players is never certain.  While anonymity is guaranteed on LetBet, Blockchain technology ensures that players are not being manipulated and that bots are kept out of the process.

The decentralized platform will offer a wide array of popular gambling features like sports betting, online poker and casino games to name a few. The platform has a number of features like a user wallet, transaction explorer, agency wallet and an integration module which allows players to explore data from conventional gambling[3] platforms and other providers. The LetBet team plans to integrate other established platforms like Bet365, William Hill and BetFair and they are currently in the process of acquiring a license to operate betting on their platform as well.

What sets LetBet apart from its competitors?

Currently, all the competitors of LetBet (AstorGame, Decent.Bet, vDice Game) have their platforms set up on the Ethereum Blockchain. Unfortunately, this extremely popular Blockchain is not ideal for creating a gambling platform. This is because of the inherent problems of the Ethereum Blockchain. Firstly, speed as the average blocktime of Ethereum is one minute, which means that players would have to wait a whole minute before seeing the results of the slot machine for example. Secondly, Ethereum-based platforms’ transactions are not provably fair, since Ethereum doesn’t provide a true Random Number Generator (RNG). Finally, in order for competitors to overcome the speed issue, they tend to implement game logic at a centralized server. This will makes the process less transparent and easier to manipulate. To solve these issues, LetBet is built on its very own Blockchain which is fast, fair and transparent. Best of all, LetBet will charge zero transaction fees.

Playing to win the hearts of gamers, LetBet aims to solve all of the problems of the Ethereum Blockchain with their new chain and create a fast, secure and truly fair Blockchain-based gambling platform. The betting platform will create more fairness through smart contract-based gambling products while connecting bookmakers around the world to build a new gambling revolution together.

LetBet launches ICO

The company will issue a new native cryptocurrency called LBT coin which will be circulated on the platform. This currency will be used for fees, buy-ins and payouts. It will facilitate internal transactions, eliminating complications of using fiat currencies, externally-levied transaction limits and potential for fraud. The LetBet team aims to takeover five percent of the online-gambling market, which translates into a 100 percent increase in the value of LBT.

LetBet[4] coin presale[5] is set to start Jan. 20th, while crowdsale will be launched Feb. 25th. Most of the collected funds will be allocated for platform development. In terms of their marketing strategy, the LetBet team intends to spend sparingly while employing affiliate and loyalty programs.  According to their roadmap[6], the company will rollout the platform with its different features incrementally throughout the year. They already have some fully developed games, open source games on GitHub[7].  The team is leveraging their experience with online gambling to produce an innovative, game-changing online gambling platform.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Wonders of Naming the Company ‘Blockchain’ or ‘Bitcoin’

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Bitcoin and Blockchain is all the rage in more than just individual investors’ circles, and companies are trying to cash in on the craze. While some are launching their own ICOs, such as Kodak[1], others have merely tacked ‘Blockchain’ onto their name and seen success.

In a move that seems dangerously similar to what happened in the 90s with the dot-com boom[2], the ‘Blockchain revolution[3]’  taken on by some companies requires careful scrutiny as much of it is smoke and mirrors.

Speaking of smoke, the cannabis revolution that followed its legalization in a few states also came with a similar warning from the SEC about business cashing in on that hype.

Bitcoin services

Among the host of companies trying to wrangle their way into the hyped market is the company formerly known as Tulip BioMed – now Bitcoin Services. This change in name and direction saw the company’s stock increase by a massive 43,500 percent last year[4].

To their credit, the name change came back in 2016 and only took off last year in November with the hype that came with the cryptocurrency market in the mainstream.

Bitcoin Services financial filings[5] from around that time offer few clues that the company was doing anything specific to justify the hysteria. The same can be said of its website[6], which generally lacks press releases and other investor information, apart from contact information.

Not alone

Bitcoin Services probably takes the top spot in terms of growth thanks to its name change, but there is a host of others that have made anywhere between 309 and 20,445 percent gains thanks to the change, as shown below.

Former Name Current Name Location Trading Range 2017
Tulip Bio Med Bitcoin Servies USA 42,500%
JA Energy UBI Blockchain Internet China 20,445%
Natural Resource Holdings Blockchain Mining Israel 12,021%
Leeta Gold HIVE Blockchian Technologies Canada 6,384%
Grand Pacaraima Gold First Bitcoin Capital Canada 5,897%
Carrus Capital Global Blockchain Technologies Canada 2,900%
AgriVest Americas NXChain USA 1,700%
Bioptix Riot Blockchain USA 1,611%
AE Innovative Capital Bitcoin Group Germany 1,503%
On-Line Online Blockchain UK 1,300%
Long Blockchain Long Island Ice Tea Corp USA 458%
Transeastern Power Trust Plockchain Power Trust Unit Canada 309%

Quick buck

Another worrying trend that is reminiscent of the dot-com boom is that these gains do not last long as people quickly catch on or regulators step in.

Hong Kong-based UBI Blockchain Internet—previously known as JA Energy—soared more than 20,000 percent before regulators halted buying and selling[7].

Bubble signs?

Those who believe the entire cryptocurrency market is one big bubble often point to the similarities in hype between the dot-com bubble and these happen around companies taking advantage of the mania and speculation.

It remains to be seen if the cryptocurrency market can weather this mania better than other similar bubbles.

Blockchain Platform Makes Internet Service More Private and Affordable

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The role of the Internet in modern day civilization cannot be overemphasized. It also serves as an essential tool for globalization and societal development that is significant in every area of individual and national development such as education, commerce, politics and the military.

Centralized servers are limited

Considering how crucial Internet services[1] are becoming and the growing demands upon service providers on a global level, it is obvious that the existing infrastructure can only be relied upon for a limited period of time. Also the centralized nature of these systems remains a form of limitation which leaves subscribers in a state of uncertainty based on what to expect from a service based on centralized control. Being run mostly by profit-oriented corporations, the limited coverage in terms of Internet service is a consequence of demography and available opportunities. This explains why most sparsely populated areas, such as small towns and villages do not enjoy good Internet services.

On the side of users, connecting through centralized servers means giving up on their rights to privacy. This is because with the existing service providers, there is no such thing as genuine neutrality.

A decentralized platform

The solutions offered by Blockchain technology which enables “anyone to be anything at any time” is being explored in the Internet service providing industry. IUNGO[2] network and its existing partnerships enhance the availability of the Internet across several borders by taking advantage of the flexibility offered by Blockchain technology. This system involves the creation of a decentralized platform[3] where anyone who has Internet data can function as a service provider to his immediate community by providing WiFi services. This service will enable more participation, and create an inclusive ecosystem that will increase Internet coverage even to more remote areas across the world.

A universal revenue opportunity

Powered by an Ethereum based token, IUNGO presents service providers with such benefits as an additional revenue stream for individuals and businesses who elect to provide Internet services to anyone within their surroundings as they can pay using the platform’s tokens. The project is also a cost-effective venture since there will be no need for the usual physical infrastructure that is normal practice with the existing systems. Blockchain is a protocol that is not bound by geographical location. Therefore issues of coverage and Internet reach will become forgotten. More users will become engaged in the profitable venture, thereby contributing to solving the global and persistent problem of unemployment.

The IUNGO platform provides users with powerful web-based service management tools (network abuse prevention, reports, billing, alerts, captive portals, white label branding), marketing tools and also the resident Blockchain protocol ensures increased security within the service. Also, based on the direct peer-to-peer nature of transactions, there becomes a significantly reduced legal liability for corporate “visitor” Internet access.

A convenient and affordable service

Internet users on the IUNGO platform are exposed to instant, seamless, safe and automated connectivity with hassle-free payments. Beyond these, the reduced cost of providing these services automatically implies a more affordable product for subscribers who through Blockchain technology are offered transparent accounting with a single global wallet. Internet usage, in this case, is also based on preferences in terms of price, speed, quality and reviews.

IUNGO network is currently carrying out an ICO and has already achieved its Soft Cap with more than 10 mln tokens sold to over 3,000 unique investors from every continent on earth. The network also has working MVP and is rolling out globally with a partnership to provide IUNGO hotspots at Vilnius International airport (impressive video of the Airport launch here[4]) with more hotspots in London, Dublin, Dubai and Taiwan coming soon. Its recent partnership with Mysterium (who raised $14 mln in their May ICO) will provide the first DApp on the platform providing a VPN to all IUNGO users.

This innovation by IUNGO network is set to disrupt the Internet service providing industry, offering both individuals and organizations the opportunity to earn revenue while enabling the global growth and coverage in Internet services. They already have a community of over 5,000 passionate supporters on Telegram[5], a sure fire sign of a successful project indeed, making IUNGO one to watch in 2018.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Blockchain in Logistics Industry Will Improve Transparency, Enhance Process Accountability

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Communication flow and logistics is an essential aspect of human existence which forms the backbone of the transfer of goods, services and value.

As international trade and logistics continues to expand, more efficient methods are being developed to enable effective service delivery and value transfer. However, Blockchain technology is bringing another dimension to disrupt the logistics industry[1] in areas such as transparency and efficient tracking.

A globally significant industry

John Monarch, CEO at Shipchain, notes that the logistics sector employs the most people in the world. He explains that as this sector expanded over millennia, it has required innovation to scale[2] and sustain practicality for the growing human population. This is happening again at the time of writing, with the fourth industrial revolution.

Monarch tells Cointelegraph:

“Connected devices revolving around the Internet of Everything (IoE) need a higher level of security. Blockchain technology is a matchless solution in this regard because it provides the best protection through distributed ledgers, advanced encryption, smart-contracts and reduced intermediaries. As a result, this will tackle corruption, ransomware, theft, premium-fees and tracking issues.”

He concludes that once Blockchain networks begin taking their first steps on a mass-market level, they will save the international trade industry at least $50 billion per year. And upon maturity, Blockchain technology could save the logistics industry a whopping $500 billion annually.

The actual role of Blockchain

Blockchain professional Aleksandar Matanovic tells Cointelegraph that Blockchain technology will indeed work as a tool to improve processes by bringing inherent properties[3] into the industry.

Matanovic says:

“As in many other industries, I don’t see Blockchain as a tool to increase efficiency, there are much more efficient systems than Blockchain-based ones. I see it as a way to make systems more transparent, more robust and less dependent on intermediaries.”

The importance of effective tracking

The COO of BitLand, Christopher Bates, explains that one of the main issues with chain of custody is knowing when property changes ownership or custodianship. Bates uses a car’s history[4] as an example:  

“It is pretty important to know if a car has been in a major accident and has frame/structural damage, he says. “If there was an immutable accessible record that kept track of the car history, there would be no way a car salesman could sell a car that had been extremely damaged.”

Bates also explains that ownership of land has many problems affecting it around the world.  One of the most consistent problems is when a parcel of land is double or triple sold, meaning a person will sell land to multiple people[5] with only one of the sales (if any) actually being legitimate.  In some places, land titles are kept on paper or are tracked by only a single individual.  In these cases, it’s often impossible to truly know the proper chain of custody, and individuals manipulate ownership records for personal gain.  

Blockchain will enable accountability

Given that shipping anything is a sequence of custody handovers, having an immutable record of chain of custody transaction makes it impossible to lose track of who is responsible for a piece of property during each handover.  Existing courier services often track packages along their route, but such methods are imperfect. Bates says:

“The issue therein is that since they are mutable, shipment records can be hidden or erased completely to the detriment of the people at large. Governments are able to hide their black budget spending by erasing shipping records or preventing records from being issued at all. On the one hand, governments will argue this is for national security, but on the other hand, the taxpayers that are sponsoring these budgets deserve transparency in spending.”  

Blockchain technology combines chain of custody control with the transparency of immutable record-keeping.  This creates an ecosystem that deters malicious actors, as they will eventually become known due to system transparency.  

Bates concludes by noting that anyone who claims to be in the decentralization movement should be extremely happy any time a government decides to implement Blockchain tech of any sort.  It means that government is moving towards transparency whether they know it or not.

Bitfury and First Block Capital Make Strategic Investment In Emercoin

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Bitfury[1], maker of hardware and software for Blockchain mining and management, has announced a strategic investment[2] in Emercoin[3]. The investment is in tandem with First Block Capital[4], the Canadian crypto investment firm.

The Emercoin platform combines proof-of-work[5] (PoW), proof-of-stake[6] (PoS) and Merged Mining into a hybrid model that Bitfury believes will produce more robust flexibility than other Blockchain systems. According to Valery Vavilov, CEO of the Bitfury Group:

“Bitfury is a big fan of Emercoin technology, which offers great potential for proof of work and proof of stake mining. In the coming months, we will develop creative ways to use this new technology, which provides both flexibility and security, to launch new pilot projects that solve complex problems for governments, companies, institutions and individuals around the world.”

Part of the investment deal includes the creation of a new advisory board for Emercoin, which includes KiteVC investor Bill Tai[7], a member of Bitfury’s board of directors, and George Kikvadze, executive vice chairman of Bitfury.

Hardware demand

Bitfury’s hardware offerings include a 16nm ASIC chip[8] designed for more energy efficient mining operations. The chip offers 100GH/s hash speed, making it one of the fastest, while still using only 0.1J/GH of power.

The demand for Bitfury products has resulted in the company being completely sold out. Miners interested in the hardware can complete a form online[9] to be able to purchase the hardware when it becomes available.

Emercoin platform

The Emercoin platform offers a number of features that the Bitfury team believes will increase adoption. These include anti-counterfeiting and domain name services, as well as decentralized advertising and digital time stamp and ownership features.

Emercoin has seen a substantial increase in volume, as interest in the platform has continued to grow. Currently ranked 118th among cryptocurrencies with a market cap of $262 bln, the coin has increased in price from $1.35 on Dec. 18 to highs over $7.88 on Jan. 11.  

Emercoin

At press time, the price had retreated from the highs to $6.44.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.