Day: November 22, 2017

The first two weeks of Crypterium ICO, which started on October 31, 2017, saw lively and robust trade, with customers flocking to the sale from all over the world. Fifteen thousand users from 143 countries have taken part in the CRPT token sale to date, helping the project reach its soft cap within the first 5 hours. Crypterium, a revolutionary cryptobank, is gearing up to create an integrated service that utilizes the most advanced blockchain features to bring cryptocurrency payment options to the real world. The funds collected through the ICO will be used to create the service, which will go live in late January.

What makes the early results particularly remarkable is the fact that the CRPT token sale attracted the attention of token-buyers from every corner of the world. Users from Russia, USA, Brazil, United Kingdom, Indonesia, Japan, Malaysia, South Africa, India, Nigeria, Australia, South Africa, and many other countries showed their support of the project by becoming its token holders. Although the highest number of token holders came from Russia and the United States – 21.40% and 20.74%, respectively, neither of these two countries demonstrated the highest average token spending so far. The leadership in this category belongs to South Korea: an average user from this country spent nearly $2,037 on CRPT tokens. The Top Ten average purchases also included customers from the Czech Republic, Switzerland, United Kingdom, Japan, Australia, Belgium, Turkey, Malaysia, and Netherlands, whose users spent an average of $600-1200 to acquire their tokens.

But what makes this ICO truly remarkable is the overall relatively low average spending: not counting major institutional buyers, an average token holder spent just a bit over $500 to buy CRPT tokens. All this indicates that the product offered by Cryptonomos found great resonance with the public at large – people are very interested in being able to use their funds in cryptocurrencies to pay for their everyday purchases.

“We are extremely pleased with the early results,” says Vladimir Gorbunov, Crypterium CCO and co-founder. “We set out to create a product that could be useful to just about every family, and people responded. I think that both the geography and the average spending we’ve seen so far show that the wider blockchain community approves of what we are doing.”

Crypterium is working to incorporate the decentralized cryptocurrency ecosystem into daily life. This requires, above all, creating a tool that would allow the use of cryptocurrencies to make instant payments for people’s routine everyday purchases – paying the bills, dinner in a restaurant, or buying bus tickets. The project’s open-source platform will also feature an innovative system to enable the acquisition of cryptocurrencies by businesses (including the option for sellers to receive fiat currencies for purchases in cryptocurrency). The third area of focus is making crypto loans more accessible. A vital component of the project is the open access to its cryptobank platform for outside developers.

Keith Teare, founder of TechCrunch and advisor to the Crypterium team, remarks, “In these early days, we are getting some very encouraging and rather unusual results – in most ICOs, we typically see 20 small token purchases for 5-10 large ones. But in this ICO the balance is quite different: Crypterium was able to rope in little guys, people who do not necessarily have thousands to spend on tokens. Most likely they are interested not so much in making money off of tokens but in using the actual services the platform will offer. I think the team really came up with a universally appealing global mass product!”

Crypterium’s ICO launched on October 31, 2017, and will run for 75 days.

The post The First Two Weeks of Crypterium ICO a Resounding Success appeared first on NEWSBTC.

Blockchain technology can be considered the most promising site for experiments in the financial sector, which will open up unlimited possibilities and solve the acute problems of banks. It is no accident that many of the largest banks continue to rely on application development platforms using blockchain technologies.

The 2008 financial crisis severely undermined the global capital markets industry, which had to contend with an endless stream of cash-absorbing problems arising from the tightening of regulatory requirements, the increase in the cost of liquidity and the need for distribution of capital, and as a consequence of the sharp decline in incomes.

According to experts, nearly 2/3 of all IT budgets of investment banks are forced to maintain the old infrastructure and tens of billions of dollars cover projects to reduce costs. This means that most of the banks continue to pursue utopia policies, investing a lot of time, effort, liquidity  and capital in support of processes that cannot guarantee profit gains.

This is why the unique capabilities of block chain are the only way out for banks, exchanges and clearing organizations that see this technology as a powerful and effective tool for influencing the fundamentals of expenditure  which can enable them to return to profit indicators sufficient to increase the profitability of capital.

Opportunities to implement banking blockchain

Banks are facing a new perspective of migrating the main operating and financial systems as well as risk assessment systems to the new data-sharing platform at the block chain base. This will enable them to seriously simplify processes by abandoning a large number of existing processes and elements of the information infrastructure.

The distribution of databases based on the blockchain technology provides a lot of unique opportunities for financial institutions:

• Storing accurate and reliable information about all transactions that have ever been committed allows anyone not only to store money, but also to make money transactions completely transparent, without having to trust each other or any centralized intermediary;
• Use of advanced encryption technologies is particularly relevant to the payment industry, as a tool for ensuring reliability, improving quality, cheaper and speeding transactions, including the improvement of the online trading infrastructure ;
• Ability to create corporate distributed databases that focus on the needs of each individual organization which will be able to interact with the distributed databases of other companies, providing the necessary level of security and confidentiality;
• Block chain as the engine for transmissions of transaction data will ensure real-time monitoring and action when necessary. Particularly relevant is the distributed registry, which can be effective in areas such as credit, REPO transactions (purchase of securities with a reverse sale obligation), a stock market which will allow for the accounting and analysis of all movements of debt and commitments in real time, and a high level of security and full backups of operations will help to avoid the legalization of trust relationships with contractors

This is an additional reaffirmation of the high priority of the transformation of the banking system through the blockchain tools which many experts consider to be a panacea for the banking system to a new level of development that will provide a steady profit.

Well-known international banks are already benefiting from the Ripple block chain project , including Santander, Axis Bank, Yes Bank, Westpac, Union Credit, NBAD and UBS. According to the representatives of Ripple, with this service, banks could save an average of $3.76 per transaction. Given that banks perform thousands or even millions of transactions a year, this is a very significant saving.

Despite the apparent streaming of the financial services sector to innovation, most banks still keep their development behind the closed doors. This is due to understandable reasons: security is a priority issue and, weighing the potential risks of information transparency, banks prefer to trust only themselves. Such an approach reduces the likelihood of a hacker threat, but also severely limits development opportunities. It is not surprising, therefore, that  blockchain projects with universal proposals that are capable of adapting to the changing realities of the environment are in priotity. Another worthy competitor is preparing to enter the financial technology market, the Credits platform.

Credits as a guarantee to eliminate existing bank problems

Effectiveness of solving possible bank failures through introduction of block chain innovations is well seen in the example of the CREDITS platform whose competitiveness is defined by the excellent technical characteristics that are aimed at enhancing efficiency of the banking system:

1. Large commissions for cross-border payments and the SWIFT interbank transactions system. Credits offers its platform for payments and charges the minimum commission – payment is made within a few seconds directly, at a sufficiently low cost of operation below 0.0001%;
2. Interbank calculations in which the transfer can “get stuck” and the account is locked. No one can block your account in block chain, transactions are processed automatically for a few seconds, there is no human factor – in contrast to such projects, Credits is capable of issuing up to 1 million transactions per second which completely excludes the possibility of delaying payments;
3. Security is the protection against hacker attacks up to the hacking of ATMs. By using a combined encryption algorithm based on asymmetric cryptosystems with a public key, with the high-velocity benefits inherent in symmetric cryptosystems with a secret key, the CREDITS platform shows major success in protecting their block chain;
4. Data security – nothing can be removed from a blockchain – thanks to the asynchronous work of consensus and data archiving;
5. Intercept and modification of information/transactions.  Combined blockchain encryption algorithm guarantees a secure, uninterrupted and instantaneous processing of a large number of transactions, and yet the maximum transaction protection

At the same time, the main originality of the block chain platform is, first of all, the ability to seriously influence the procedures for confirming transactions, reconciliation, cash management, optimizing assets and other business processes that companies are forced to spend billions of dollars a year.

As the IBM C-Suite study 2017 shows, 1/3 some of the banking organizations that have decided to experiment are ready to implement block chain by the end of this year. According to the forecasts for the near future – the year 2025 will be a fundamental change in the banking system’s operating principles which would completely abandon the classic methods and select the most profitable and the main profit-oriented blockchain technology.

The post Blockchain as the Foundation for a New Banking System appeared first on NEWSBTC.

Swap to Ripple-based blockchain will position cryptocurrency for further growth

22 November 2017 (Isle of Man) – CasinoCoin (CSC), the open source, peer-to-peer cryptocurrency designed specifically for the regulated online gambling industry, has announced it will initiate a coin swap to move to a new Ripple-based blockchain, bringing a host of advantages for users and operators.

There are several reasons behind the move to the new CasinoCoin blockchain. Liquidity of the coin will be increased from 40 million to 40 billion, a total coin supply more in line with the scale of the global iGaming industry, which H2 Gambling Capital estimates will be worth €54 billion in gross win by 2020*.

Additionally, the new CasinoCoin blockchain infrastructure is more advanced, and features added functionality including faster transaction times, with capability of up to 1,000 processed per second.

The coin swap will start at midday GMT on November 25, 2017 and will be open for 80 days. Holders of CasinoCoin will be able to initiate the coin swap within the new CasinoCoin wallet.

Current CasinoCoin holders will receive 1,000 coins on the new blockchain for every one coin sent from the old blockchain. The process will be managed manually to ensure optimal security checks on all transactions, and the coin swap will close at midday GMT on February 14, 2018.

The coin swap process will be executed with full transparency. All CasinoCoin that are swapped will have their transaction IDs displayed on a web page to prove those coins were swapped during the process.

The coin’s Foundation, which advocates for the growth of CasinoCoin and cryptocurrency in the regulated gambling industry, will use any balance of coins not swapped onto the new blockchain, by midday GMT on February 14, 2018, to support continued operations, marketing, and development.

The new CasinoCoin blockchain will continue with the ticker CSC and retain the current CasinoCoin name and branding. The original blockchain will be rebranded CasinoCoin Classic (CCC), with no new development or support from the Foundation after February 14, 2018.

For full details on how to proceed with the coin swap, please visit: https://casinocoin.org/coinswap/. The CasinoCoin team will also be answering questions on Reddit and Discord.

John Caldwell, Director of Advocacy for the Foundation, said: “This coin swap will move CasinoCoin to a new blockchain that will better position us to push forward with our goal of becoming the cryptocurrency of choice for the regulated gambling industry, and is more in line with current technology.

The past few months have been spent putting a new team in place, raising awareness in the gambling industry and now transferring CasinoCoin to a new, more robust blockchain.

“We are confident that CasinoCoin has the team and technology in place to have a truly transformative impact on the regulated gambling industry.”

Last month, the non-profit Foundation of CasinoCoin announced the appointment of several senior industry professionals to its newly-established advisory board, including Lee Fenton, CEO of Gamesys, Britt Boeskov, CPO of Kindred Group and Sam Hobcraft, CEO of OPL Gaming Group

*http://www.igamingbusiness.com/news/igaming-dashboard-june-2017

For Further information on this press release or to arrange an interview, please contact Square in the Air on [email protected] or 0044 203 586 8266

About CasinoCoin;

CasinoCoin (Ticker: CSC) is a cryptocurrency that is being continually developed, specifically with the legal, regulated online gambling business in mind. In addition to world class speed and scalability, CasinoCoin developers are currently working on features that put operators and gambling customers first. KYC (Know your customer), AML (Anti-money laundering), Responsible Gambling and other regulatory first considerations have been built in to CSC at the technology level from the start.

The post CasinoCoin Announces Coin Swap appeared first on NEWSBTC.

Covesting is a peer-2-peer digital asset management platform combined with the most complete infrastructure for investors and cryptocurrency traders. The platform is being built by ex-Saxo bankers and allows any investor to copy the trades in real time of professional cryptocurrency traders, while keeping their funds safely in their own accounts. Traders can start a career as fund managers by proving their performance, which is tracked transparently, directly on the Covesting platform. Traders can trade from many of their favorite crypto exchanges and will not have to change their current trading habits.

Covesting’s launches a public crowdsale, after successfully completing their Pre-ICO stage on November 19^th, raising over $1,1 million dollars and exceeding their goal in just two weeks. The Pre-ICO period which lasted roughly one month, had over 1,700 participants and brought in over 3,000ETH, adequately funding the company through its platform development phase.

Covesting will also feature the Crypto Intelligence Portal, encompassing a complete knowledge base of all cryptocurrency related information from a carefully selected group of unbiased sources, as well as market analysis, forums, and discussion based around trading.

Almost a week ago, Covesting has announced that it has officially incorporated in Gibraltar, a move that should help the fintech startup flourish in a nation with friendly regulations in both the financial and technology industries. Such move is incredibly important for distributed ledger based technology companies because Gibraltar is one of the few places that has officially enacted regulation around what is permitted. Gibraltar’s Financial Services Commission ratified laws pertaining to all distributed ledger based companies to go into effect Jan 1^st, 2018

In order to develop the platform within shortest period of time, Covesting team has decided to go for Initial Coin Offering (ICO). The project provides the unique opportunity to take part in a crowdsale and benefit from its growth by purchasing Covesting Tokens prior to the beta-version launch of the platform. All proceeds from the token sale will fund the product launch, continued platform development, and user acquisition.

The ICO opens on November 24^th at 13:00 GMT time, and will run for one month until December 24^th. The initial rate is 200 COV per 1 ETH in the public ICO, but scales down as more ETH are contributed, and eventually will lower to 130 COV per 1 ETH. Investors are encouraged to participate early as the rate drops after just the first 5,000 ETH is contributed.

You can also find Covesting on social media:

Telegram: https://t.me/covesting
Facebook: https://www.facebook.com/covesting/
Twitter: https://twitter.com/covesting?lang=en
Medium: https://medium.com/@Covesting

The post Professional Traders Disrupting the Investment Management Industry – Covesting Opens Their Crowdsale. appeared first on NEWSBTC.

Max Keiser believes Bitcoin could hit a $100,000 high – what does it need to get there?

Notable cryptocurrency bulls Mike Novogratz and Thomas Lee have once again upped their price predictions for Bitcoin. On Tuesday, Novogratz, the main man at Galaxy Investment Partners and former head of Fortress Investment told Bloomberg that he envisions a $10,000 Bitcoin before the end of the year. This was followed today by Fundstrat’s Tomas Lee doubling his price target for mid-2018 to what now seems an almost reserved $11,500.

However, it’s not just Bitcoin that Novogratz is bullish on. He also sees smart-contract blockchain platform Ethereum as increasing in value too. For him, a $500 ETH token is likely before the year’s end. That would mean an increase of 20% for Bitcoin, and 36% for Ethereum with just over a month and a week remaining in 2017.

Novogratz sees the ever-growing market interest as the product of Bitcoin’s attributes. He also cites a growing distrust amongst the public towards the powers that be and institutions such as central banks. The experienced money manager is reported to have said:

Bitcoin is built on an amazing technology. There’s a limited supply of it, people are trusting it. Remember, this whole revolution came out of a breakdown in trust, it came out of the ’08 financial crisis where people say, ‘We no longer trust financial institutions, we no longer trust governments.’

Just the day after Novogratz upped his prediction for the year, long-time Bitcoin bull Thomas Lee also doubled his price target for mid-2018. If the price were to move in line with Lee’s prediction of $11,500, it would represent a gain of over 40% from the time of writing.

In a report to his clients, he wrote that the November slump that had been caused by the rejection of Segwit2x had “cleaned up weak hands”. He had previously warned that the speed at which Bitcoin had shot from $3,500 to $7,000 was reason for investors to exercise caution, and that such a pullback was to be expected. However, with that out of the way, the Fundstat researcher concluded:

We no longer feel caution is warranted.

Image: PixaBay

The post Bulls Getting Bullish: Novogratz and Lee Up Their Price Predictions appeared first on NEWSBTC.

Financial markets are in a bull run, what about the crypto world?

A scammer successfully made more than $3 million after getting the private keys to bitcoin gold users’ wallets during the fork’s launch period.

We’ve been seeing a splurge of many innovative blockchain solutions built on the Ethereum platform, but one which stands out with it’s innovativeness is Piety. Piety aims to disrupt the big business that organized religion has become, alongside the wars, bloodshed and misery it causes for millions of people around the globe. It targets not just the believers, but in it’s bold mission wants agnostics and even atheists to follow the doctrine of Piety.

Disclosure: This is a Sponsored Article

So what is the doctrine of Piety- it’s very simple, spirituality on the blockchain. What does this mean? Using Piety tokens, owners can communicate directly with their Gods without needing an intermediary religious organization which acts as the middleman for people’s faiths currently. So rather than donate some money to church, mosque or temple individuals seeking spirituality can directly communicate with their God or saviors using Piety. This helps individual go through troubled times when they wish some for some moral strength.

Organized religions have exploited lack of decentralized alternatives thus preying on vulnerable people going through tough times in their lives, and have used this money towards notorious means whether it be Crusades, child molestation scandals, Islamic terrorism. Piety allows owners of the tokens to encapsulate conversations between themselves and their God in a secure manner over the blockchain. Moreover it facilitates a peer-to-peer transaction between individuals to spread their wisdom. If recipients like the message, they can further spread harmony or alternatively send a token of thanks to the original sender. According to Piety, if they existed during Buddha’s times he could have simply spread his message using Piety than wandering the streets of India.

Piety has no central authority and there is a direct connection between an individual and their God based on how Piety they hold. All followers of Piety will be united by their connection to God and sharing wisdom. Using these tools Piety serves the needs of individual morality and spiritual upliftment as well as the needs of evangelism without the needs of any centralized agency. Just love, harmony and peace.

Piety has already organized an Airdrop and Bounty campaign giving away more than 60,000 coins to it’s followers, and is giving remaining 40,000 campaigns in a controversial and flamboyant poke at organized religion by organizing a competition to draw Prophet Muhammad, something criticized by Islamic clerics who rake in lots of money. The crowdsale begins on 11th November, so make sure to grab your tokens while they last and connect to God directly over the blockchain.

We’re hoping this coin can disrupt the organized religion sector. Check out their project at http://pietycoin.net/ . Read their whitepaper here: http://pietycoin.net/static/files/Whitepaper.pdf

Former Major League Baseball star Jose Canseco is apparently a big believer in blockchain and cryptocurrencies.