Day: December 3, 2017

Cryptocurrency enthusiasts are susceptible to losing funds in many different ways. Aside from human error, there are risks posed by failed ICOs, hacked exchanges, or other calamities. Taylor-Copeland Law is one of the first law firms specializing in these issues. We may be witnessing the creation of a new niche within the legal system as we know it today.

Focusing on Exchanges and ICO Mishaps

It was only a matter of time until law firms started paying attention to cryptocurrency. Especially with all the issues arising over the past few years, there is a booming market for all companies specializing in cryptocurrency. With so many exchanges getting hacked, disappearing, or failing to provide optimal services, a lot of users are often left frustrated.

Moreover, the initial coin offering industry poses several major risks to consumer funds. No one knows for sure if any given ICO project is legitimate or how things will play out once money has been raised. The Tezos ICO is a good example of how things can go awry pretty quickly if problems aren’t addressed in a timely manner. However, there have often been no legal repercussions for exchanges or ICO teams that fail to deliver on their original promises.

That situation is finally changing, thanks to law firms such as Taylor-Copeland Law. The company has a dedicated page on its website explaining how blockchain technologies and cryptocurrencies will have an impact on our daily lives. However, with the regulatory and legal framework still making it difficult for businesses and individuals to comply with the law, something will need to change.

This is why Taylor-Copeland Law decided to provide the guidance investors may need when it comes to the intersection of law and crypto. They claim to specialize in aiding cryptocurrency traders harmed by exchange failures, including so-called “flash crashes“. Considering that we’ve seen a lot more of those crashes in recent months, there are a lot of legal disputes waiting to happen, by the look of things.

Furthermore, the company also provides services relating to initial coin offerings. A lot of investors are harmed by projects and teams which misrepresent their projects and intentions before or during their crowdsales. There need to be legal remedies in this regard as well, which is what this firm aims to provide. Additionally, they focus on the taxation of crypto investment gains and help companies check all the right legal boxes before they decide to organize an ICO.

It is expected that we will see even more law firms focus on these specific areas in the near future. There is a growing contingent of cryptocurrency users who will require legal counsel at one point or another. Whether or not all cryptocurrency users will decide to pursue that option is something else entirely. A lot of users may be somewhat ashamed to admit they were victims of an exchange mishap or a malicious ICO project. 

Bitcoin Diamond has successfully forked and established itself as a new cryptocurrency in its own right. What does it have to offer?

The South Korean government is investigating various methods to better regulate the local Bitcoin market and tax Bitcoin users.

A lot of countries around the world are deliberating how they should treat Bitcoin and other cryptocurrencies. Taking action is a lot easier said than done, and such decisions need to be reached carefully. Over in Indonesia, it seems a complete ban on all cryptocurrencies is imminent. It is an unfortunate development, but it remains to be seen how effective such a ban can be.

Indonesia Isn’t Keen on Cryptocurrencies

The past few years have been filled with adversity for any cryptocurrency trying to make a global impact. Whether it is Bitcoin or something else entirely, there is a lot of opposition from the financial sector and governments. Given the unregulated and uncontrollable nature of Bitcoin and other cryptocurrencies, it is evident there are a lot of risks associated with this new form of money. At the same time, there are a lot of new opportunities waiting to be explored by those brave enough to take the plunge.

It doesn’t appear as if Indonesia will be among those countries giving cryptocurrencies a fighting chance. More specifically, the Bank of Indonesia plans to ban all Bitcoin-related activity in the country. It is unclear why the central bank decided to take this course of action, considering cryptocurrencies are not all that popular in the country. Many people will see this ban as reflecting the government’s fear of allowing consumers to control their own money at all times. Since no bank or government can effectively control Bitcoin, such opposition is not unexpected.

While digital technology is of great interest to the Indonesian government, it sees cryptocurrencies in a completely different light. There is a high degree of uncertainty associated with this economic model, and investors need to be protected from financial harm. Bitcoin and altcoins represent a fundamental change in the financial sector which will have both advantages and drawbacks. Making an appropriate decision on this topic is not easy, yet introducing a full ban may not necessarily be the best course of action.

The Indonesian Central Bank aims to preserve the sovereignty of the rupiah as legal tender in the country, which is something everyone will agree on and accept. However, Bitcoin can easily coexist with the rupiah without recognizing the former as official tender in Indonesia. Officially outlawing this new form of money will set an unfortunate precedent. The big question is whether or not such a measure will have success in the long run. People will find a way to access cryptocurrency with or without the approval of the government.

One thing worth pointing out about this ban is that it will be as absolute as humanly possible. There will be no arbitrage opportunities, business controls, or unhealthy business practices on the part of anyone outside of the legal reach of the Indonesian government. This certainly sets the tone for cryptocurrency in the country, although it still remains an unfortunate decision. Indonesia is one of the places where Bitcoin could potentially do a lot of good if the government would just give it a chance. 

Another question worth asking is whether or not existing Bitcoin holders in Indonesia will sell their currency or simply hold it. Converting it to the rupiah will become impossible soon, and there will be no way to spend it either. Rest assured there will be some entities that will come up with creative ways to circumvent this ban, assuming it gets implemented in the first place. For now, the country’s central bank has not stated when it will seek to impose this new directive, which creates further doubt and uncertainty.

The positive Bitcoin price momentum is still in place as we speak. Thanks to some strong gains over the past few days, we are looking at a Bitcoin price of over $11,800 right now. It is only a matter of time until this value surpasses $12,000, which would send some shockwaves throughout the financial sector. The world’s leading cryptocurrency is not done just yet, that much is evident.

Bitcoin Price Trucks Along Nicely

Truth be told, a lot of people had expected a far steeper Bitcoin price correction before we would see any further upward momentum. When the price was rejected from its previous all-time high in rather dramatic fashion, there was a genuine fear we might drop well below $8,000 in the coming days. Surprisingly, things never got that bad, as the value eventually settled at around $9.250.

Although such a $2,000 drop scared a lot of people, it was only a minor blip on the radar when looking at the bigger picture. We now see the Bitcoin price recovering all of those losses and even reach a new all-time high in the process. Things have been especially interesting over the past 24 hours, with a near $1,000 gain across all exchanges. This growth is nothing short of remarkable and astonishing, although it may very well be just the beginning for Bitcoin. Some experts predict a Bitcoin price of around $40,000 by late 2018.

Whether or not that Bitcoin price is achievable in the next 12 months, remains to be seen. The current trend certainly seems to indicate anything is possible when it comes to Bitcoin. With a price change of around $500 in the course of just one hour, there is no reason to think bigger gains are on the horizon for the world’s leading cryptocurrency. An interesting future is ahead, that much everyone can agree on at this point.

Bitcoin once again notes very strong 24-hour trading volume during the weekend. With over $5.4bn worth of BTC changing hands these past 24 hours, the demand for cryptocurrency is not slowing down whatsoever. This current Bitcoin price gain has also pushed the total cryptocurrency market cap over $351bn once again, which is something that shouldn’t be ignored. All cryptocurrencies are flourishing and the majority of them can co-exist with BTC.

Bitfinex is still the go-to exchange when it comes to buying or selling Bitcoin. Their trading volume is almost twice as high as Bithumb’s, and three times as high as HitBTC’s. A remarkable trend that will not change anytime soon. It is also worth noting Bithumb projects a Bitcoin price of over $12,371 at this point in time, which is a pretty interesting gap compared to the rest of the world. Unfortunately, very few people can “exploit” this arbitrage opportunity right now.

How things will play out for the Bitcoin price remains to be seen. The positive momentum is still in place and it seems to grow even more bullish these past few weeks. There is no reason to think the Bitcoin price won’t reach $12.500 before the year is over, but there is never any certainty when it comes to cryptocurrency. Markets can turn sour on a whim’s notice. If that happens, all cryptocurrencies will suffer once again, as Bitcoin drags everything else up or down.

Ethereum co-founder Vitalik Buterin outlined the long-term roadmap of Ethereum development

Taking another bold step in developing a comprehensive P2P lending solution for the Asia-Pacific, Crowd Genie has announced that it will conduct the first-ever ICO token sale of its CGCOIN currency, through its related entity CGSPV Pte. Ltd.

One of only four P2P lending platforms to be awarded a Capital Market Services (CMS) License by the Monetary Authority of Singapore (MAS), Crowd Genie’s prime focus is to provide easier capital access for borrowers looking to grow their young businesses with the right investors; namely through its end-to-end marketplace lending platform.

Through its ICO sale, Crowd Genie is seeking to raise ETHB100,000 (USD31.69 million) to scale-up its operations – with the objective of developing an end-to-end Pan-Asian tokenised lending platform that facilitates cheaper and easier flows of funds between lenders and borrowers.

What makes Crowd Genie’s token sale distinctive from other ICOs? Not only is Crowd Genie already licensed in Singapore, it has proven track record of cash flows since commencing operations in 2016.

Founded by entrepreneurs Akshay Mehra and Bikash Saha, Crowd Genie is also looking to revolutionise the way in which we perceive lending; as the firm’s unique platform facilitates borrower-lender transactions via token-based lending through the Ethereum blockchain.

CGCOIN token holders will be able to invest in businesses listed on Crowd Genie’s platform. There, holders can use their CGCOINs to invest in assets of businesses that can be fractionalised into smaller portions, while getting higher than bank returns. All of this will be enabled by using the blockchain to keep track of ownership and investments.

Crowd Genie will also continue to ensure its rigorous due diligence processes for both borrowers and lenders. To enable this to be conducted on the blockchain, Crowd Genie is planning to create a ‘digital passport’ that holds verified information for each stakeholder and asset.

Crowd Genie also plans to put a unique utility to its tokens by helping SMEs build their credit histories by incentivising on-time payments, and real-time data sharing, by adding CGCOIN credits to borrowers with strong credit profiles. The more CGCOINs earned this way, the higher the borrower’s reputation; thereby increasing the chances of lower interest rates and receiving higher investments from more lenders.

To build these capabilities, Crowd Genie’s team has grown significantly. It has assembled a team of individuals with extensive experience in banking, technology, and cryptocurrency.

Down the road, Crowd Genie is planning to expand its platform to include a regional exchange where any asset can be traded at a fraction of the cost, from any country across the region.

“We are looking at building a blockchain-based lending exchange for the Asian market that could dramatically improve the flow of capital, while continuing to be compliance with the regulations,” says Mehra. “We believe think that the efficiencies of blockchain fits very well with our target of the underbanked population of SMEs in Singapore and in the region more broadly.”

Building on the success of its first ICO, Crowd Genie will initially prioritise optimising its service for its Singapore clients. The greater aim, however, is to tap into the underbanked populations of regional developing markets. thereby making the P2P platform a leading token-based lending hub in the Asia-Pacific.

For Mehra, Crowd Genie is “Driven by the fact that we want to target the underbanked population. We feel that the underbanked have all the right credentials to be given loans or have some kinds of financial products, but are still underserved.”

About Crowd Genie

Crowd Genie is a Singapore-based P2P lending platform which brings together borrowers (registered SMEs) with lenders (capital providers) under a single ecosystem. Founded in 2016 the platform facilitates blockchain-based transactions via the use of Crowd Genie’s very own CGCOIN cryptocurrency. It is one of the few licensed P2P lending platforms in Singapore to be granted a “Dealing in Securities” license by Monetary Authority of Singapore (MAS).

Crowd Genie was established with the clear goal of creating a more accessible lending marketplace over traditional finance institutions. The platform was initiated by Akshay Mehra and Bikash Saha – who collectively hold around 40 years of experience in enterprise and banking – and are backed by a team of seasoned advisors and consultants who have backgrounds in capital markets, technology, and marketing.

ICO Page: www.genieico.net
Company Page: www.crowd-genie.com

The post Crowd Genie to Hold ICO Token Sale appeared first on NEWSBTC.

The Caribbean island of Aruba is working with blockchain startup Winding Tree to build a decentralized marketplace for its tourism sector.

Scrinium is proud to announce the launch of a pre-ICO on December 11th, and every investor is welcome to take part.

 A new ICO has emerged in the finance sector: a system based on blockchain that will provide the user with an opportunity to invest and achieve profit without significant effort, by building an investment portfolio based on the user’s preferences.

Scrinium solves several major problems for those who find trading and copy trading risky and not very profitable. It doesn’t require a lot of knowledge or a knack for financial analysis, and it doesn’t involve the sort of intermediaries who take part of a trader’s profit in a traditional trading environment.

Scrinium was born as an idea in early 2017, when the founding fathers Sebastian Forbes and George Pantzis decided to put an end to the long-term struggle of every investor involved in copy or social trading.

Scrinium is a decentralised investment technology that operates using smart contracts. Based on performance analysis of millions of traders around the world, it picks the most appropriate and consistent traders to suit an investor’s requirements, and automatically creates an investment portfolio fit for their needs. In that way the investor doesn’t have to perform complex analytical actions to be able to take part in trading.

The company is now ready to launch a pre-ICO stage on December 11th. The number of coins to be sold during the pre-ICO is 18,000,000, and all remaining unsold coins will be sold during the ICO. You can see Scrinium’s token allocation scheme on the company website. The coin itself will be used as an internal operating currency – investing in SCR means that those who buy it will be able to use the Scrinium system.

The company roadmap plans its first prototype public release for May 2018. In the meantime, you can follow Scrinium on social media to get all the latest updates on the pre-ICO and the product itself.

(FB, Twitter, Medium, GitHub)

The post Scrinium – the Future of Portfolio Investment appeared first on NEWSBTC.

2017 has seen an explosion of cryptocurrency projects and startups focused on video games. As a whole, the video game industry appears to be one of the first sectors to meaningfully embrace cryptocurrency in a number of ways. While there are dozens of projects focused on video gaming, there are a select few that seem to be breaking away as front runners in building a bridge between crypto and the US$100 billion gaming market.

GameCredits

GameCredits (GAME) is the grandfather of crypto gaming. Recently, GameCredits made several key moves to put it in a position to lead this niche as early as 2018. GameCredits (and its utility token, MobileGO) has rebranded as GNation, which is seemingly taking on the market from every possible direction. Its team of over 100 employees is currently developing applications to take on eSports and eSports wagering, mobile gaming, and game development.

The primary focus is on its app store, GStore, and its flagship game, Pixel Wars. Pixel Wars is a next-generation mobile MMO currently in open beta. Once the game is launched, it’ll be mass-marketed with the help of a nine-figure advertising budget. These advertisements will include free-to-play tournaments that pay out top players in MobileGO. MobileGO will also be used for eSports wagering and as universal in-game currency.

On top of this, GNation has been establishing itself by sponsoring eSports tournaments throughout the world, as well as Japan’s Team Detonation. Most importantly, GameCredits has established a partnership with Unity, a development engine which powers more than half of all mobile games. Unity is implementing features to allow game developers to integrate GAME and MGO with one click.

If GNation can capture just one percent of video game revenue, the combined market cap of GameCredits and MobileGO will increase by over 500%. 2018 will be a pivotal year for this platform in terms of gaining traction and adoption.

EnjinCoin

EnjinCoin (ENJ) is a much newer project, with its ICO having taken place this summer. EnjinCoin integrates with Enjin, a forum host for gaming communities which together boast over 18 million monthly users. ENJ initially struggled outside of its ICO, with the coin seeing a significant decline out of the gate amidst the overall altcoin bear trend. However, the coin is beginning to rebound, and upcoming developments suggest that EnjinCoin has a strong future.

The first major development set for release within the next two months is a Minecraft plugin that will allow servers to integrate EnjinCoin. 15% of the total supply of ENJ has been set aside to sponsor communities, which will distribute coins to their players as gameplay rewards. EnjinCoin has already partnered with over 100 Minecraft communities, meaning it will enjoy vast exposure once this plugin is finished.

The other major milestone is the release of EnjinCoin’s mobile wallet, which is rumored to be the most secure Ethereum wallet to date. If it lives up to expectations, there may be a new wave of support from altcoin investors looking for a secure method of storing tokens in light of recent Parity wallet hacks.

Chimaera

Chimaera (CHI) is still in its infancy, currently in the pre-sale stage. Out of these three, Chimaera is perhaps the most ambitious project. Chimaera is approaching video gaming very differently, as it offers a custom blockchain on which games can be published, maintained, and interacted with. MMOs, turn-based games, and real-time strategies, among other games, are the focus of Chimaera.

With this system, developers will be able to launch and run their games on the Chimaera blockchain, which will act as a global ledger for all games operating on the platform. There are a host of benefits to interacting with games in this manner, including assigning real and proven value to items and currencies with which players interact. It also allows for decentralized wagering and matchmaking systems.

The team behind Chimaera has already employed this system with their earlier blockchain-based games, HunterCoin and Chrono Kings. These two games served as proof that the blockchain can be gamified. Chimaera is the expansion of this gamification into a platform that synchronizes developers, gamers, and the games themselves in the same ecosystem.