Rememberful Bitcoin News.
The price of monero’s cryptocurrency could be poised for movement as traders are building support at a key retracement level.
The price of monero’s cryptocurrency could be poised for movement as traders are building support at a key retracement level.
When it comes to making money with cryptocurrency, there are many ways to do it. Diversifying into altcoins, investing in ICOs, or just daytrading in general are all valid approaches. Some coins offer a masternode system which automatically rewards users with small amounts of coins for locking up a certain amount of currency and providing valuable services to the network. Although this may sound less than appealing, it is a good way to make money, especially with new currencies. Running a Masternode is Profitable Setting up a masternode is not something one can do for just any currency these days. In
When it comes to making money with cryptocurrency, there are many ways to do it. Diversifying into altcoins, investing in ICOs, or just daytrading in general are all valid approaches. Some coins offer a masternode system which automatically rewards users with small amounts of coins for locking up a certain amount of currency and providing valuable services to the network. Although this may sound less than appealing, it is a good way to make money, especially with new currencies.
Setting up a masternode is not something one can do for just any currency these days. In fact, none of the major currencies – except for Dash – support this business model right now. That situation won’t change overnight either, as there is usually no incentive for running a network node these days. Especially in the world of Bitcoin and most popular altcoins, there is no reason to have masternodes.
To put this into perspective, most currencies providing masternode services focus on privacy and anonymity. Dash is perhaps the best-known currency in this regard, as it has been running a masternode incentive system for quite some time now. It does require users to lock up a lot of coins in a wallet and not spend their balances for as long as they wish to operate the node. All Dash masternodes provide InstantSend features for the entire network, which enables anonymous transactions.
One could argue Monero would have a use for masternodes in this regard, but that is not the case. Most of the Dash clones out there – and there are plenty of those – offer a masternode system which provides similar features to users of the particular network. Some of the more recent coins coming to mind include Vivo, Neutron, Crave, and VSync. All of these currencies entice users to run their own masternodes, which entitles them to a specified ROI over the course of twelve months.
In most cases, the ROI for operating a masternode is a lot lower than most people would like it to be. That is only normal, as this is not a get-rich-quick business model by any means. However, users are effectively generating passive income by constantly running a node on a device of their choosing. A VPS is the most obvious masternode solution these days, but it is equally possible to just run one on a computer or even a Raspberry Pi.
After running my own masternode for nearly a full month, it turns out there are two different purposes to setting up a masternode. First of all, you will earn a stream of passive income without much effort on your end. That in itself is a pretty decent reward. However, if you manage to buy into a coin which only launched recently, there is some good money to be made as the value of said coin goes up. In my case, I made a 450% profit in a month by both running the node and seeing the coin’s value appreciate.
Do not be mistaken in thinking only newer altcoins will explore the masternode option. Stratis, for example, will launch its own masternode system soon, although it will require around US$1 million to set up when buying the needed coins at the current price. That is a substantial amount, and it remains to be seen how many people will benefit from this opportunity. Early investors will certainly be interested in letting their coins grow in value and earning some additional money on the side.
Japan will get safer game meat thanks to Blockchain tech
Japan will get safer game meat thanks to Blockchain tech
Fortune |
One of the World’s Biggest Bitcoin Exchanges Just Added a New Cryptocurrency
Fortune Bithumb, one of the world’s biggest exchanges for cryptocurrencies such as Bitcoin and Ethereum, added support for a new cryptocurrency on Tuesday. Based in South Korea, Bithumb listed Zcash, a privacy-centric digital money based on a blockchain, … What Is Zcash? Why Edward Snowden Calls It The “Most Interesting Bitcoin Alternative”?Fossbytes |
Fortune | One of the World's Biggest Bitcoin Exchanges Just Added a New Cryptocurrency Fortune Bithumb, one of the world's biggest exchanges for cryptocurrencies such as Bitcoin and Ethereum, added support for a new cryptocurrency on Tuesday. Based in South Korea, Bithumb listed Zcash, a privacy-centric digital money based on a blockchain, ... What Is Zcash? Why Edward Snowden Calls It The “Most Interesting Bitcoin Alternative”? |
Business Insider |
LARRY FINK: Cryptocurrencies are proof of ‘how much money laundering there is being done in the world’
Business Insider Larry Fink sees huge potential in blockchain, the underpinning technology of digital currencies like bitcoin, but he’s not on board with the cryptocurrency wave that’s sweeping Wall Street. In a recent interview with Bloomberg News, the head of … BlackRock’s Fink says rise of bitcoin shows ‘how much money laundering is being done in the world’MarketWatch |
Business Insider | LARRY FINK: Cryptocurrencies are proof of 'how much money laundering there is being done in the world' Business Insider Larry Fink sees huge potential in blockchain, the underpinning technology of digital currencies like bitcoin, but he's not on board with the cryptocurrency wave that's sweeping Wall Street. In a recent interview with Bloomberg News, the head of ... BlackRock's Fink says rise of bitcoin shows 'how much money laundering is being done in the world' |
Ogoniland, situated off the coast of the Gulf of Guinea in southeastern Nigeria, is considered the most polluted region along the Niger Delta and among the worst in the world.
Even though the Niger Delta is rich in resources, poverty, pollution and unemployment are rife. One of its primary resources is oil, and consequently, many companies take advantage of the region. According to the United Nations Environment Programme (UNEP), the oil industry has been a key factor in Nigeria’s economy for 50 years. As a result of oil drilling and spills by Shell and other companies, however, the land has been devastated, the vegetation decimated, fish numbers depleted, and surrounding mangroves, swamps and creeks contaminated. Consequently, the livelihoods of many fishermen and farmers have been destroyed.
In 2011, the UNEP said that it could take up to 30 years for full environmental restoration to be achieved in Ogoniland; but a lack of accountability appears to have stalled progress as corruption and violence spread, and mistrust continues to grow between the people and the government.
Cleaning up the Niger Delta remains a key focal point for Chinyere Nnadi, founder and CEO of Sustainability International, a U.S.-based nonprofit that provides innovative solutions to complex sustainability and conservation issues in the developing world. Sustainability International’s current large-scale initiative hopes to revitalize the region through its Clean Up Niger Delta Project.
Speaking to Bitcoin Magazine, Nnadi, whose family comes from Nigeria, said that it’s important to understand the full scope of this Gordian knot before reaching a resolution, and to raise awareness around the effects caused by the oil pollution.
“Over the years, we’ve taken numerous meetings [with] local villages, government officials, and oil and gas companies to fully understand each stakeholder’s concerns and challenges,” he said. “During this process, the situation became more volatile and dangerous with rising ethnic tensions and youth violence.”
Nnadi explains that since Nigeria fell into recession a year and a half ago, violence and unrest have risen sharply in the region. Several militant groups comprising of disaffected youth with no job prospects were regularly bombing oil pipelines until a truce in September 2016. In one explosion alone, Shell lost $7 billion. The Nigerian federal government is estimated to have lost $100 million in oil revenue from the oil and gas pipeline bombings as it lost control over the Niger Delta region.
“The truce ended two weeks ago and the Nigerian army and navy have entered the region to protect the oil and gas assets and combat the militants,” explained Nnadi. “In the last two weeks there have been multiple killings and kidnappings.”
Nnadi says that there has never been a cleanup of the oil spills in the Niger Delta, culminating in 50 years of neglect and lack of accountability among oil and gas companies, wealthy elites and the government. Consequently, as sentiment is changing toward solving the problem, all the parties — the government, oil companies and the community — no longer trust each other, says Nnadi.
“This presented the opportunity to experiment with the blockchain at the community level,” he added. “We have their trust, and that is what is most important at the moment.”
As such, Sustainability International is planning to launch multiple controlled pilots in one village over the next year. Nnadi said they will conduct interviews with the villagers to determine the best design application for the people. They will then use their findings to develop the alpha version of mobile and desktop applications before executing cleanup number two, employing “wetware” — human know-how merged with advanced technology.
“Our pilots will begin with one farm, then expand the cleanups to multiple farms at a time by the third cleanup, using hardware and blockchain [technology] to efficiently execute multiple cleanups,” he said. “Using decentralization, we will enable distributed data collection and secure payments to villages, engineering accountability, economic inclusion and community engagement.”
Through the blockchain, Sustainability International will be able to micropay community members as they build credibility through its reputation system that rewards honest work. It’s hoped that this will rewire a society that is rampant with bribery and corruption. In turn, interaction with international NGOs that are seeking to engage with young entrepreneurs and community leaders in Africa’s largest country will be made easier.
Sustainability International has teamed up with the Blockchain for Social Impact Coalition (BSIC), an initiative started by ConsenSys.
Ben Siegel, impact policy manager at ConsenSys, told Bitcoin Magazine that the blockchain aspect of Sustainability International’s project creates an added level of trust in the platform.
“The individuals on the ground don’t need to trust each other; they just need to trust the platform/system,” he said. “It reduces the fear of corruption that can sometimes drive people away from integrity.”
Sustainability International and the blockchain coalition will use smart contracts to prevent corruption and return trust back to Ogoniland.
“With smart contracts and cryptocurrency, we can create ‘programmable money,’ which allows us to then ‘program’ human actions,” added Siegel. “If we incentivize people to continuously perform a series of tasks in order to receive a sustained flow of funds, we might be able to create a system in which the most likely ‘corrupt’ actors are incentivized for not being corrupt.”
This means that if Shell were to allocate a set amount of money to clean up an oil spill, the money wouldn’t be released to the contractor until the work has been verified as complete. Through smart contracts, the contractors and the community would monitor the cleanup, with each submitting data to show efficacy of work. The community would also be trained in International Sustainability standards, in which multiple factors of authentication are needed on the data submission to ensure secure data is used, Nnadi explained.
“We also run a sentiment tracker and smartphones in the entire community throughout the length of the project to have an extra level of confirmation and community engagement,” added Nnadi.
Nnadi expects the cleanup will be a massive development opportunity for local communities.
“The central thesis of this technology experiment is that the government and oil companies should pay the people to perform the cleanup,” he said. “We believe that instead of the money being spent on foreigners to come in intermittently to check on the cleanup, that local decentralized data collection will provide cheaper real-time monitoring for the oil companies and governments.”
The post How Blockchain Technology is Helping to Clean the Niger River appeared first on Bitcoin Magazine.
Ogoniland, situated off the coast of the Gulf of Guinea in southeastern Nigeria, is considered the most polluted region along the Niger Delta and among the worst in the world.
Even though the Niger Delta is rich in resources, poverty, pollution and unemployment are rife. One of its primary resources is oil, and consequently, many companies take advantage of the region. According to the United Nations Environment Programme (UNEP), the oil industry has been a key factor in Nigeria’s economy for 50 years. As a result of oil drilling and spills by Shell and other companies, however, the land has been devastated, the vegetation decimated, fish numbers depleted, and surrounding mangroves, swamps and creeks contaminated. Consequently, the livelihoods of many fishermen and farmers have been destroyed.
In 2011, the UNEP said that it could take up to 30 years for full environmental restoration to be achieved in Ogoniland; but a lack of accountability appears to have stalled progress as corruption and violence spread, and mistrust continues to grow between the people and the government.
Cleaning up the Niger Delta remains a key focal point for Chinyere Nnadi, founder and CEO of Sustainability International, a U.S.-based nonprofit that provides innovative solutions to complex sustainability and conservation issues in the developing world. Sustainability International’s current large-scale initiative hopes to revitalize the region through its Clean Up Niger Delta Project.
Speaking to Bitcoin Magazine, Nnadi, whose family comes from Nigeria, said that it’s important to understand the full scope of this Gordian knot before reaching a resolution, and to raise awareness around the effects caused by the oil pollution.
“Over the years, we’ve taken numerous meetings [with] local villages, government officials, and oil and gas companies to fully understand each stakeholder’s concerns and challenges,” he said. “During this process, the situation became more volatile and dangerous with rising ethnic tensions and youth violence.”
Nnadi explains that since Nigeria fell into recession a year and a half ago, violence and unrest have risen sharply in the region. Several militant groups comprising of disaffected youth with no job prospects were regularly bombing oil pipelines until a truce in September 2016. In one explosion alone, Shell lost $7 billion. The Nigerian federal government is estimated to have lost $100 million in oil revenue from the oil and gas pipeline bombings as it lost control over the Niger Delta region.
“The truce ended two weeks ago and the Nigerian army and navy have entered the region to protect the oil and gas assets and combat the militants,” explained Nnadi. “In the last two weeks there have been multiple killings and kidnappings.”
Nnadi says that there has never been a cleanup of the oil spills in the Niger Delta, culminating in 50 years of neglect and lack of accountability among oil and gas companies, wealthy elites and the government. Consequently, as sentiment is changing toward solving the problem, all the parties — the government, oil companies and the community — no longer trust each other, says Nnadi.
“This presented the opportunity to experiment with the blockchain at the community level,” he added. “We have their trust, and that is what is most important at the moment.”
As such, Sustainability International is planning to launch multiple controlled pilots in one village over the next year. Nnadi said they will conduct interviews with the villagers to determine the best design application for the people. They will then use their findings to develop the alpha version of mobile and desktop applications before executing cleanup number two, employing “wetware” — human know-how merged with advanced technology.
“Our pilots will begin with one farm, then expand the cleanups to multiple farms at a time by the third cleanup, using hardware and blockchain [technology] to efficiently execute multiple cleanups,” he said. “Using decentralization, we will enable distributed data collection and secure payments to villages, engineering accountability, economic inclusion and community engagement.”
Through the blockchain, Sustainability International will be able to micropay community members as they build credibility through its reputation system that rewards honest work. It’s hoped that this will rewire a society that is rampant with bribery and corruption. In turn, interaction with international NGOs that are seeking to engage with young entrepreneurs and community leaders in Africa’s largest country will be made easier.
Sustainability International has teamed up with the Blockchain for Social Impact Coalition (BSIC), an initiative started by ConsenSys.
Ben Siegel, impact policy manager at ConsenSys, told Bitcoin Magazine that the blockchain aspect of Sustainability International’s project creates an added level of trust in the platform.
“The individuals on the ground don’t need to trust each other; they just need to trust the platform/system,” he said. “It reduces the fear of corruption that can sometimes drive people away from integrity.”
Sustainability International and the blockchain coalition will use smart contracts to prevent corruption and return trust back to Ogoniland.
“With smart contracts and cryptocurrency, we can create ‘programmable money,’ which allows us to then ‘program’ human actions,” added Siegel. “If we incentivize people to continuously perform a series of tasks in order to receive a sustained flow of funds, we might be able to create a system in which the most likely ‘corrupt’ actors are incentivized for not being corrupt.”
This means that if Shell were to allocate a set amount of money to clean up an oil spill, the money wouldn’t be released to the contractor until the work has been verified as complete. Through smart contracts, the contractors and the community would monitor the cleanup, with each submitting data to show efficacy of work. The community would also be trained in International Sustainability standards, in which multiple factors of authentication are needed on the data submission to ensure secure data is used, Nnadi explained.
“We also run a sentiment tracker and smartphones in the entire community throughout the length of the project to have an extra level of confirmation and community engagement,” added Nnadi.
Nnadi expects the cleanup will be a massive development opportunity for local communities.
“The central thesis of this technology experiment is that the government and oil companies should pay the people to perform the cleanup,” he said. “We believe that instead of the money being spent on foreigners to come in intermittently to check on the cleanup, that local decentralized data collection will provide cheaper real-time monitoring for the oil companies and governments.”
The post How Blockchain Technology is Helping to Clean the Niger River appeared first on Bitcoin Magazine.
Three major Asian banks and a regulator in Singapore have teamed up for a new blockchain trial focused on customer identification.
Three major Asian banks and a regulator in Singapore have teamed up for a new blockchain trial focused on customer identification.
Over the past few months, we have come across a few reasons to grow weary of the Tether project. After the team created millions of USDT out of thin air, many people were eager to see whether the company would release a financial statement confirming they possessed the corresponding amount of USD holdings. So far, things seem to be adding up, but there are still other concerns associated with Tether that can’t be dismissed so easily. Tether is Still Risky Business While it is good to see the company issue a new financial statement regarding its assets just last week, there are still some
Over the past few months, we have come across a few reasons to grow weary of the Tether project. After the team created millions of USDT out of thin air, many people were eager to see whether the company would release a financial statement confirming they possessed the corresponding amount of USD holdings. So far, things seem to be adding up, but there are still other concerns associated with Tether that can’t be dismissed so easily.
While it is good to see the company issue a new financial statement regarding its assets just last week, there are still some issues associated with Tether which can’t be squared away with such a PDF file. The issuance of millions of USDT in quick succession caused a lot of confusion among cryptocurrency users last month, but it seems the company does have the USD balance to warrant this sudden influx of USDT across exchanges.
As most people are well aware, the USDT is a digital representation of one US Dollar. However, the “Tether dollar” is not issued by the Federal Reserve and has always been somewhat of a controversial cryptocurrency in this regard. With its value fixed at US$1 per token, there is no room for speculation either, which can be considered both a good and a bad thing right now. Backing all tethers with actual assets is not an easy feat, especially with nearly half a billion tethers in circulation right now.
Tether’s success is pretty significant, but it is also cause for concern. There is no restriction on who can use Tether right now, and it is certainly possible this digital token will be involved in money laundering schemes at some point in the future. We have seen various governments crack down on cryptocurrencies because of this potential risk. Moreover, the bank account which stores all US dollars associated with the current USDT in circulation is still considered to be a central point of failure.
In fact, it recently became painfully obvious that this bank account is such a major problem. A few months ago, Tether struggled to convert USDT back to USD due to issues with its bank account. As a result, users were forced to pay a slight premium for people willing to buy up USDT in exchange for US dollars across various exchanges. At one point, that premium had risen to 7%, which effectively valued every single USDT at just US$0.93 instead of US$1. This issue was resolved quickly, but it is still pretty troubling.
Should the US (or any other) government go after Tether, it is unclear what the future would hold. Everyone will agree issuing a digital dollar without consent from the Federal Reserve will irritate the institution sooner or later. This is especially true given that the Fed may introduce its own digital currency in the future, although those plans have not been set in stone just yet. It is evident this currency will not be a tool for criminals anytime soon, due to its fixed value and potential requirement to undergo identification before using it in the first place.
In fact, one could argue USDT has all the markings of a central bank digital currency without being effectively issued by a central bank. It is a concept that will face scrutiny sooner or later, and when it does, things won’t be looking great for the parent company whatsoever. Whether or not we will ever see such a situation unfold remains to be seen, though. For now, there appears to be little interest by the US government in Tether, although things can change at any given moment.
CNBC |
US government misses out on $600 million payday by selling dirty bitcoins too early
CNBC U.S. authorities shut down dark web marketplace Silk Road in 2013 and seized founder Ross William Ulbricht’s bitcoins. Ulbricht withdrew his claim to the digital coins last week. The U.S. Department of Justice said Friday that it had sold those 144,336 … Feds Claim Proceeds from Seized Silk Road Fortune at Only $334 per BitcoinCoinTelegraph Ross Ulbricht Moved to Colorado, will Petition Supreme CourtBitcoin News (press release) |
CNBC | US government misses out on $600 million payday by selling dirty bitcoins too early CNBC U.S. authorities shut down dark web marketplace Silk Road in 2013 and seized founder Ross William Ulbricht's bitcoins. Ulbricht withdrew his claim to the digital coins last week. The U.S. Department of Justice said Friday that it had sold those 144,336 ... Feds Claim Proceeds from Seized Silk Road Fortune at Only $334 per Bitcoin Ross Ulbricht Moved to Colorado, will Petition Supreme Court |
London based startup DIGI is an upcoming blockchain service for digital goods and services who are aiming to disrupt this multi-billion dollar industry. Their focus is on building the worlds largest platform for these services. Market research pegs the digital market at over $500 billion, which is more than four times the current cryptocurrency market. The increasing number of tablets, smartphones and Internet users has resulted in a high demand for digital content. There are presently more than 3.5 billion Internet users worldwide. By creating a digital marketplace that is readily accessible to buyers of digital content and profitable for
London based startup DIGI is an upcoming blockchain service for digital goods and services who are aiming to disrupt this multi-billion dollar industry. Their focus is on building the worlds largest platform for these services.
Market research pegs the digital market at over $500 billion, which is more than four times the current cryptocurrency market. The increasing number of tablets, smartphones and Internet users has resulted in a high demand for digital content. There are presently more than 3.5 billion Internet users worldwide.
By creating a digital marketplace that is readily accessible to buyers of digital content and profitable for sellers, DIGI will make it possible for digital products to be bought and sold quickly and easily.
Some existing digital platforms now take up to 60% of content contributors’ earnings and invoke tier systems where the more the contributor earns, the less commission they receive.
DIGI, by contrast, will create an ecosystem that will not deny content creators their rightful earnings.
The DIGI distributed ledger will also address copyright infringement issues which currently undermine the use of digital platforms. DIGI’s main revenue generation will not be based on commissions from content creators, but from promotional revenue streams of the DIGI Token.
DIGI will initially focus on what market researchers have identified as the 10 fastest growing digital products: e-books, stock photography, courses, subscriptions, services, apps, themes and templates, digital/gift vouchers, audio and video.
By focusing on these markets, DIGI will produce a highly scalable and profitable marketplace. As digital sectors evolve, the DIGI marketplace will become the platform of choice thanks to its moderated and high quality products.
Phase 1 of their roadmap which includes the DIGI UI design has already begun and will be completed within the next few months.
Holders of the DIGI Token, an ERC20 token built on the Ethereum blockchain, will be able to use these tokens within trading and exchange platforms. They will also be able to use the tokens to purchase digital goods or services from the DIGI marketplace.
The fixed supply of 98 million DIGI Tokens ensures that early contributors to the platform will receive a great return of tokens on their contribution.
The DIGI token sale is now live. Visit digitoken.tech to find out more. Currently they have a 20% Bonus for early contributors which ends very soon.
DIGI Tokens are not designed for speculative or investment purchases.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
CBS Insights Fintech 250 Startup List includes Coinbase, Ripple, Blockstream, Blockstack, Chain, Xapo. All in all 13 Blockchain companies.
CBS Insights Fintech 250 Startup List includes Coinbase, Ripple, Blockstream, Blockstack, Chain, Xapo. All in all 13 Blockchain companies.
CoinTelegraphPioneering Bitcoin Analyst Nick Colas is Back to Put Dots TogetherCoinTelegraphWall Street guru Nick Colas, former chief market analyst of brokerage firm Convergex, is back to analyzing Bitcoin price movements by launching a daily newslett…
CoinTelegraph | Pioneering Bitcoin Analyst Nick Colas is Back to Put Dots Together CoinTelegraph Wall Street guru Nick Colas, former chief market analyst of brokerage firm Convergex, is back to analyzing Bitcoin price movements by launching a daily newsletter to be called DataTrek Research in early October 2017. Colas is the first Wall Street ... |
GoldMint, a
blockchain-based startup that helps gold owners profit from digital assets
backed 100 percent by physical gold, recently announced an innovative
collaboration with the mineral production company Eurasia Mining.
GoldMint’s
board of directors and nominated advisors demonstrate significant experience in
the rapidly developing world of blockchain technology. Their creative vision is
to redefine the architecture of the physical gold market by fostering the
necessary infrastructure for physical gold to be traded faster, more
efficiently and more transparently. Over time, they expect this will usher in a
paradigm shift for the entire gold industry.
In Q1 of 2017, GoldMintofficially opened its digital doors with the objective
of introducing a new digital gold model. This project is primarily directed
toward delivering gold ownership solutions for cryptocurrency investors and
enthusiasts worldwide.
The GoldMint project is based on the basic belief that physical
gold is a stable method of payment and wealth preservation, predicated on the
qualities of value and scarcity. Gold ownership, however, requires expensive
security, safekeeping and insurance. GoldMint’s innovative approach seeks to
address these inherent issues with gold ownership.
The GoldMint ICO, which launched on September 20, will offer
a new means of exchange for gold: transactions are managed over a blockchain-based
platform, and are backed 100 percent by physical gold. This platform will
access the private and individual gold trading market — and potentially the
larger physical stocks, such as those in central banks. It will also provide an
electronic payment solution backed by physical gold, as well as a system for
gold-backed peer-to-peer lending.
Through this
agreement, GoldMint is establishing a method for applying blockchain-based
technology to the development of resource industry projects.
Based in the
U.K. and Russia, Eurasia Mining is a platinum, palladium, iridium, rhodium and
gold production company with a long-standing history in mineral exploration. It
has a fully operational mine in Russia’s Ural Mountains, as well as the
exclusive rights to participate in up to 67 percent of the Semenovsky
Gold Tailings Project, a project demonstrating significant near-term gold production
potential.
With its roster
of projects under development, Eurasia is now seeking a fresh set of solutions
for bringing these projects to market. The company has a proven track record in
successfully developing mineral exploration projects through innovative means.
Currently, Eurasia is following ongoing advancements in the worlds of
crowdfunding and blockchain technology to assess how these trends can be
applied to the world of gold production, exploration and resource development.
These efforts
align favorably with GoldMint’s strategic intent of aligning blockchain technologies
with the resource industry in order to create greater fluidity among
transactions backed by physical gold.
Co-founders Dmitry Pluschevsky, who was a co-founder of LOT-ZOLOTO, and Konstantin Romanov later realized that
blockchain technology could be applied to the business dealings of
international gold markets, making transactions in physical gold more
accessible, efficient and transparent.
In addition,
GoldMint will deliver an automated machinery solution called Custody Bot for
the immediate tokenization and sale of physical gold at high street locations.
Pluschevsky said that several emerging trends are currently
influencing GoldMint’s strategic direction. These include the expansion and hyper-volatility
of the cryptocurrency markets, the instability of fiat money and world
financial uncertainty.
“We plan to build a global peer-to-peer system of crediting
secured by gold so that some people would be able to help others regardless of
politics and without risk for both sides,” noted Pluschevsky.
The strategic partnership between GoldMint and Eurasia, then, is
one that promises to bring advantages to both sides.
“While the final Eurasia/Goldmint, blockchain-based solution
applied to the mineral exploration and resource extraction industry has yet to
be fully determined, the potential upside is high in terms of being able to
partly replicate the royalty streaming business already proven to be very effective
in the mining industry,” Pluschevsky concluded.
For more about GoldMint, review the white paper.
Note: Trading and
investing in digital assets is speculative. Based on the shifting business and
regulatory environment of such a new industry, this content should not be
considered investment or legal advice.
The post GoldMint Partnership Signals Strategic Advancement appeared first on Bitcoin Magazine.
GoldMint, a
blockchain-based startup that helps gold owners profit from digital assets
backed 100 percent by physical gold, recently announced an innovative
collaboration with the mineral production company Eurasia Mining.
GoldMint’s
board of directors and nominated advisors demonstrate significant experience in
the rapidly developing world of blockchain technology. Their creative vision is
to redefine the architecture of the physical gold market by fostering the
necessary infrastructure for physical gold to be traded faster, more
efficiently and more transparently. Over time, they expect this will usher in a
paradigm shift for the entire gold industry.
In Q1 of 2017, GoldMintofficially opened its digital doors with the objective
of introducing a new digital gold model. This project is primarily directed
toward delivering gold ownership solutions for cryptocurrency investors and
enthusiasts worldwide.
The GoldMint project is based on the basic belief that physical
gold is a stable method of payment and wealth preservation, predicated on the
qualities of value and scarcity. Gold ownership, however, requires expensive
security, safekeeping and insurance. GoldMint’s innovative approach seeks to
address these inherent issues with gold ownership.
The GoldMint ICO, which launched on September 20, will offer
a new means of exchange for gold: transactions are managed over a blockchain-based
platform, and are backed 100 percent by physical gold. This platform will
access the private and individual gold trading market — and potentially the
larger physical stocks, such as those in central banks. It will also provide an
electronic payment solution backed by physical gold, as well as a system for
gold-backed peer-to-peer lending.
Through this
agreement, GoldMint is establishing a method for applying blockchain-based
technology to the development of resource industry projects.
Based in the
U.K. and Russia, Eurasia Mining is a platinum, palladium, iridium, rhodium and
gold production company with a long-standing history in mineral exploration. It
has a fully operational mine in Russia’s Ural Mountains, as well as the
exclusive rights to participate in up to 67 percent of the Semenovsky
Gold Tailings Project, a project demonstrating significant near-term gold production
potential.
With its roster
of projects under development, Eurasia is now seeking a fresh set of solutions
for bringing these projects to market. The company has a proven track record in
successfully developing mineral exploration projects through innovative means.
Currently, Eurasia is following ongoing advancements in the worlds of
crowdfunding and blockchain technology to assess how these trends can be
applied to the world of gold production, exploration and resource development.
These efforts
align favorably with GoldMint’s strategic intent of aligning blockchain technologies
with the resource industry in order to create greater fluidity among
transactions backed by physical gold.
Co-founders Dmitry Pluschevsky, who was a co-founder of LOT-ZOLOTO, and Konstantin Romanov later realized that
blockchain technology could be applied to the business dealings of
international gold markets, making transactions in physical gold more
accessible, efficient and transparent.
In addition,
GoldMint will deliver an automated machinery solution called Custody Bot for
the immediate tokenization and sale of physical gold at high street locations.
Pluschevsky said that several emerging trends are currently
influencing GoldMint’s strategic direction. These include the expansion and hyper-volatility
of the cryptocurrency markets, the instability of fiat money and world
financial uncertainty.
“We plan to build a global peer-to-peer system of crediting
secured by gold so that some people would be able to help others regardless of
politics and without risk for both sides,” noted Pluschevsky.
The strategic partnership between GoldMint and Eurasia, then, is
one that promises to bring advantages to both sides.
“While the final Eurasia/Goldmint, blockchain-based solution
applied to the mineral exploration and resource extraction industry has yet to
be fully determined, the potential upside is high in terms of being able to
partly replicate the royalty streaming business already proven to be very effective
in the mining industry,” Pluschevsky concluded.
For more about GoldMint, review the white paper.
Note: Trading and
investing in digital assets is speculative. Based on the shifting business and
regulatory environment of such a new industry, this content should not be
considered investment or legal advice.
The post GoldMint Partnership Signals Strategic Advancement appeared first on Bitcoin Magazine.
Colas is the first Wall Street analyst to cover Bitcoin prices and even predicted one of its first price leaps to $1,000, follow marijuana store sales and analyze the economy using the price of a bacon cheeseburger.
Colas is the first Wall Street analyst to cover Bitcoin prices and even predicted one of its first price leaps to $1,000, follow marijuana store sales and analyze the economy using the price of a bacon cheeseburger.
MarketWatch |
BlackRock’s Fink says rise of bitcoin shows ‘how much money laundering is being done in the world’
MarketWatch Larry Fink, chief executive officer of BlackRock Inc., on Tuesday said bitcoin and other cryptocurrencies may help to identify the extent of money laundering happening across the globe. The rapid ascent of cryptocurrencies “identifies how much money … |
MarketWatch | BlackRock's Fink says rise of bitcoin shows 'how much money laundering is being done in the world' MarketWatch Larry Fink, chief executive officer of BlackRock Inc., on Tuesday said bitcoin and other cryptocurrencies may help to identify the extent of money laundering happening across the globe. The rapid ascent of cryptocurrencies “identifies how much money ... |