Day: November 3, 2017

Bitcoin displays antifragile properties, soaring to new heights despite repeated attacks.

On Tuesday just past, the CME Group announced plans to launch a futures market for Bitcoin. Since then, the largest Bitcoin exchange in the US has reported an influx of users. It’s widely believed that the expectation of greater institutional money entering the market is driving the high number of registrations Coinbase has experienced.

The company reported a massive 100,000 new customers within the last 24 hours. The data was compiled by Alistair Milne of Altana Digital Currency Fund. The chief investment officer Tweeted his findings on November 2nd.

According to the San Francisco-based crypto exchange, they now have 11.9 million users. Founded in 2012, Coinbase represents one of the easiest ways to buy various digital currencies. They currently support Bitcoin, Ether, and Litecoin.

The company have been in and out of favour with many within the space. Earlier this year, their GDAX platform was involved in the Ether “flash crash“. Last month, they were under inspection by the Commodity Futures Trading Commission with regards the anomaly. Many users have also complained about network outages during crucial moments for traders. In times of high volume, Coinbase servers would frequently overload and crash the service entirely. More recently, however, the exchange has won back some fans by eradicating the waiting period for certain customers wishing to buy into a digital currency. Previously funds would be locked for several days whilst fiat funds moved. This had been the chagrin of many users.

It’s not just the number of new users registering for Coinbase accounts that’s gone parabolic since the announcement. The cost of a single Bitcoin rose dramatically from around $6,150 at the start of Tuesday, to over $7,300 at the time of writing. Many are anticipating the futures market to continue to drive the price following its launch too. The rationale behind such opinion is that many institutional investors who are unable to get exposure to the cryptocurrency at present will flood in sending the price to the proverbial “moon”.

Image: ShutterStock

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Security is a concern for ethereum as it continues to grow, and many think the best way to stay ahead is to always be on guard.

One-by-one, industries are being improved with Blockchain technology. The next major market: life insurance.

Money is the fuel on which businesses run, and most ideas and ambitions will never find expression until a certain amount of capital is injected to either kick-start or establish them.

Traditionally, one of the key roles of banks and other financial institutions is the financing of businesses and industries, providing the necessary liquidity for the continuous running of the business ecosystem. This is mostly implemented in form of loans, where borrowers receive funds based on predetermined conditions and pay back over a given period of time at a specific interest rate.

Bank systems are becoming outdated

Recently, this traditional system of lending and borrowing has been losing popularity among businesses due to the stringent methods involved in accessing loans. Most businesses, especially SMEs and new startups find it difficult to keep up with the demands and conditions placed by these banks in order to access funds. Most often the demand for collaterals is too much for several startups in today’s business environment. Also, the bureaucracy and regional restrictions most times appear as limitations for borrowers to access certain loans.

By combining blockchain technology and regular convention, Lendoit is creating a robust system that will bring together lenders and borrowers from across the globe, enabling easy accessibility of funds for borrowers while ensuring the security of such funds in protecting the lenders.

“Lendoit is a decentralized peer-to-peer lending platform which connects borrowers and lenders from all over the world in a trusted, fast and easy manner using the advantages of Smart Contracts and Blockchain technology. Lendoit does NOT use Tokens as collaterals, instead, it combines efficient methods to mitigate the chances of lenders to lose their money such as 3rd party professional scoring/verification local companies, smart compensation fund, syndicated loans and a collectors market where default debt can be sold.”

Peer-to-Peer lending

Peer-to-Peer lending is the practice of matching borrowers and lenders through online platforms. Borrowers are often able to gain access to funds quickly, and typically at lower interest rates than those offered by banks, making it an attractive alternative to bank loans. These loans are often comprised of many different lenders ranging from individuals to institutional lenders.

P2P lending has experienced rapid growth as borrowers seek better alternatives to banks. The global lending marketplace market is projected to reach $290bn. by 2020, with an expected compound annual growth rate of 51% from 2014-2020.

Participants on Lendoit

On the Lendoit platform, loans can be given in any of the ERC20 currencies, and the platform has developed a disruptive ecosystem, using its Smart Contracts that serve the following participants:

• Borrowers can apply for a loan using a Smart Loan Contract
• Lenders can lend to borrowers, using the Smart Loan Contract, by transferring funds to the contract
• Reputation Consumers can get information about an Ethereum address via Smart Reputation Contract for any purpose (e.g. check address before transferring tokens to it, exchanging physical assets for tokens, etc.)
• Collectors can buy the debt in a tender using the Smart Loan Contract. The Collectors that can participate in the auction must be under applicable legal requirements and regulation in the relevant jurisdiction.

A Smart Process

The entire process of borrower application, KYC verification, loan issuance, and repayment are well organized on the Lendoit platform. During repayment of a given loan, the borrower repays the funds including the interest to the Smart Loan Contract using his wallet, the lender can then withdraw the principal loan funds from the Smart Loan Contract, in the same lending currency. However, the Lender receives the interest into his wallet in Lendoit Tokens (LOAN) after an automatic conversion using the Smart Conversion Contract, according to the current rate of the Smart Conversion Contract.

In order to maintain an efficient and secure marketplace, the Lendoit platform implements the Smart Reputation Contract, which is like a global score for an Ethereum wallet, Smart Compensation Funds Contract, which helps lenders to cover losses in case a borrower defaults on a loan among other features.

However, the platform benefits by charging a small fee from the Smart Loan Contract, paid in LOAN tokens, using the Smart Conversion Contract.

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Jam-packed with its diversity, continuous development, and its expectation to build a better world through innovation, Crypto Engine was formulated. Combined with various people from around the crypto world, conceptualization of various ideas that form its ultimate aspiration  – Building happiness and creating a better crypto world with Customers Satisfaction, safety, and convenience, the team has found their mutual goal.

This is expected to grow in no time and seen to be useful for future poverty alleviation and own asset management.

Based on the series of researches made, Crypto Engine Bace Data specifically on its trading history was able to calculate the total number of exchanges in the world and has the ability to analyze which coins are moving. Block Data can check the number of blocks for each coin by mining. Trade Data where each coin makes a different variation. It instantaneously analyzes this and makes it the source of trade.

Fortunately, these technicalities and overall specifications were possible through its team hard work and undeniable intelligence of its CEO – Takuya Hashiyada.

More innovations are expected to happen sooner, see their website and other information: https://www.cryptotradeengine.com/

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Bitcoin is trending in Turkey, and the country’s central bank officials are starting to notice. This week President Murat Cetinkaya of the Central Bank of Turkey (CBRT) said the financial institution is monitoring bitcoin closely, and spoke optimistically about digital currencies.

Also Read: Luxury Dubai High Rise Apartments Will Be Sold for Bitcoin

Central Bank of Turkey President Says Cryptocurrencies Could Contribute to Financial Stability

According to local news outlets in Istanbul, the president of the Turkish central bank, the CBRT, said officials from the region are researching cryptocurrencies. Murat Cetinkaya explains that the CBRT has formed a research group consisting of digital asset market participants, Turkish government officials, and regulators. The country’s banking regulator has explained current financial law does not apply to bitcoin, but has cautioned Turkish citizens against using the currency. Now in a more positive light, president Cetinkaya says cryptocurrencies like bitcoin could “contribute to financial stability.”  

President Erdogan and Turkey’s Failing Economic Policy Sparked Bitcoin Interest Last Year

The bitcoin economy in Turkey is growing according to many different sources. For instance, the country has a Turkish Lira-Bitcoin exchange, BTCTurk, and other infrastructure providers such as Payza, and Bitwala. Residents living near the Istanbul Ataturk Airport can also utilize the country’s bitcoin ATM as well. Additionally, according to Google Trends statistics, Turkey’s interest in bitcoin continues to rise every month.

Bitcoin demand in Turkey started gathering steam back in 2016 when the Turkish Lira had lost considerable purchasing power that year. At the time, president Erdogan tried to convince citizens to convert their foreign currencies back into the Lira.

Turkish Economist: “There Is Serious Bitcoin Research Happening in Turkey”

Now bitcoin is seeing a lot more traction, as just last month the Miavita Beytepe apartment complex in Ankara, Turkey announced it will be selling luxury apartments for bitcoin. In addition to a few cryptocurrency exchange options, over-the-counter activity on Turkey’s Localbitcoins platform has grown exponentially. Following the statements from president Cetinkaya revealing information on the CBRT’s cryptocurrency researchers, the economist, and director of IS Investment International Markets, Shant Manukyan, confirmed the bank’s current investigation, stating:       

There is serious bitcoin research happening in Turkey.

Like the many other central banks worldwide, the CBRT is admitting that policymakers are heavily examining cryptocurrencies. Cetinkaya’s statements, revealing the bank’s crypto-research group and saying the technology may be able to provide financial stability, is a good sign for bitcoin proponents located in Turkey.

What do you think about the president of the CBRT Murat Cetinkaya’s statement about cryptocurrency? Do you think bitcoin could help the Turkish economy? Let us know what you think in the comments below.

Images via Pixabay, the CBRT logo, and Twitter. 

Do you agree with us that Bitcoin is the best invention since sliced bread? Thought so. That’s why we are building this online universe revolving around anything and everything Bitcoin. We have a forum. And a casino, a mining pool, and real-time price statistics.

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Technologically backed by the multi-chain base private blockchains, BRAINY a cryptocurrency was born. It is the currency that participates in the ICO of this project which will be received in exchange for BTC/ETH. This currency is a brief expression for the Al of this project. The conceptualization and improvement of BRAINY represent the belief of the intellectual people to innovative change by Al and their willingness and eagerness to be part of the modern world.

Powered by the team’s expectation, “Belief”, “Reliability”, “Acceleration”, “Infinite”, “Novelty” was formed as an acronym for BRAINY cryptocurrency, which best describe the future leading learning currency.

The targeted dividend, detailed specification of BRAINY are can be technically identified on their website. For a glimpse, you may check the below illustration:

To obtain support from many crypto coin holders and to share the wave of change with people is the team’s ultimate desires. Creating happiness through this modern cryptoworld is the main goal of these smart people.

Together with the development partners, Cryptoengine and its clever and hardworking team, the greatest goal and satisfaction will be exceeded – HAPPINESS IN THE HEARTS OF THE CRYPTO COIN HOLDERS.

Let us all go beyond expectations and continuously develop our modern world through this innovation.

Visit their website for more updates, https://brainy-ai.com/index.html

The post Belief, Reliability, Acceleration, Infinite, Novelty – BRAINY, the Learning Currency appeared first on NEWSBTC.

Blockchain startup Dragonchain has raised approximately $13.7 million in an initial coin offering (ICO).

On December 7 for the first time, Malta will host Blockchain & Bitcoin Conference. The event opening ceremony will be attended by the Chairman of the Committee on Economic and Financial Affairs Silvio Schembri.

Joseph Muscat, the Prime Minister of Malta, is known for his statement made in front of the leaders of the European Union: “Cryptocurrencies cannot be stopped”. In the country, he promotes decentralized technologies: at the initiative of the prime minister, a working group on blockchain issues was formed, including the representatives of the government and private companies, and in the near future it is planned to introduce blockchain in the land cadastre and the national medical register.

Silvio Schembri also supports decentralized technologies, in particular, he announced plans to turn Malta into a “Silicon Valley of Europe” and make it attractive for FinTech investments.

Blockchain & Bitcoin Conference Malta is one of the large series of event dedicated to blockchain and bitcoin, held by Smile-Expo in the Czech Republic, Ukraine, Russia, Sweden and other countries, where the state and business are interested in decentralized technologies. The objective of the event is to develop the blockchain community and to establish communication between its participants.

It has been revealed that in his opening speech at Blockchain & Bitcoin Conference Malta, Silvio Schembri will cover the issues of decentralized technologies development in the country and explain the importance of the conference for the community.

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