Mastodon

Hollywood Producer Andrea Iervolino Launches TaTaTu, a Blockchain-Powered Social Entertainment Platform

Since music and film became digitized, both the RPAA and Hollywood have fallen victim to a multitude of platforms that have come into existence, making content freely available and accessible to people across the world, driving down profits and revenue streams. But, with blockchain technology, there may finally be a means by which to harmonize the digital age with the entertainment space, ensuring that content creators are protected and that brands and companies receive a fair distribution of revenues from production and content distribution. In the hopes of balancing the equation, Hollywood producer Andrea Iervolino is launching a new blockchain-based platform, TaTaTu, that

Since music and film became digitized, both the RPAA and Hollywood have fallen victim to a multitude of platforms that have come into existence, making content freely available and accessible to people across the world, driving down profits and revenue streams.

But, with blockchain technology, there may finally be a means by which to harmonize the digital age with the entertainment space, ensuring that content creators are protected and that brands and companies receive a fair distribution of revenues from production and content distribution.

In the hopes of balancing the equation, Hollywood producer Andrea Iervolino is launching a new blockchain-based platform, TaTaTu, that intertwines social media activity with entertainment viewing. TaTaTu is a global and social entertainment platform through which users receive rewards for watching movies, sports, gaming, and other forms of content, as well as from their friends’ viewing.

Recognized for films like End of Watch, ApocalyptoThe Merchant of Venice, and Machete, Iervolino hopes to bring Hollywood to the blockchain by integrating a 360-degree entertainment platform that ensures secure digital rights records, as well as the fair distribution of advertising revenue between users and content providers.

As the co-founder of AMBI Media Group, a multinational consortium of vertically integrated film development, production, finance and distribution companies, Iervolino’s vision is to develop a nurturing community of dedicated and engaged users who watch and create videos that can then be shared with friends and members of the community.

Harmonizing The Scale

Users

Thanks to blockchain technology, users will finally be rewarded for their social entertainment activity in an open and decentralized way – earning tokens to watch movies and other content for free, and receiving additional tokens from the movies and the content consumed by their friends.

Users can engage with their friends and be rewarded for their social media relationships by receiving digital tokens for views generated by both themselves and their friends. Token holders will also take active part in shaping the future of the platform, with the ability to vote on which content the platform should provide in a fully transparent and decentralized way.

Content Owners

The industry is no stranger to piracy and illegal downloading. Well, finally, content creators no longer have to worry about not being compensated fairly – or at all – for their work, because platforms like TaTaTu will monetize every piece of content based on effective user consumption and real-time views, providing for transparency and real-time financial reporting.

“Social networks and entertainment platforms are making huge profits by gathering data from their users and selling it to other corporations without rewarding their users,” says Iervolino. “There is a need for a platform that provides higher levels of transparency to their users, brands, and rights holders about the revenues generated and monetization of users. Audiences need free, legal and quality content with a simple user experience.”

Most content-based platform business models are centered around the idea that users need to pay for their content, which encourages users to find alternative, more cost-effective routes, ending up in the illegal marketplace (e.g., torrents and the dark web). “Well, no more, because TaTaTu is listening to the marketplace and adapting—giving free access to content and taking it one step further by rewarding users with an automatic monetization system,” says the Hollywood producer.

Brands

Advertisers can target specific audiences by placing their ads on a reliable platform with premium content. Brands get access to very detailed information about their audience. All user profiles are verified, and all the views and engagement metrics are accurate.

Encryption and Transparency

Thanks to its blockchain, TaTaTu can record each transaction in an open and incorruptible distributed ledger, ensuring that users and content providers get rewarded. A digital rights management platform will ensure that all talent, distributors, and studios have an accurate record of their work recorded and secured on the blockchain, reducing the percentage of piracy throughout the industry.

Why bitcoin is ‘rat poison’ to Buffett, ‘turd’ to Munger – Yahoo Finance


Yahoo Finance

Why bitcoin is ‘rat poison’ to Buffett, ‘turd’ to Munger
Yahoo Finance
It’s no secret that Warren Buffett is not a fan of cryptocurrency like bitcoin, which he calls “probably rat poison squared.” But the real reason? He just doesn’t like gold. A long-time value investor, Buffett compares cryptocurrency to gold, which he
Warren Buffett says bitcoin is ‘probably rat poison squared’CNBC
WARREN BUFFETT: Bitcoin is ‘probably rat poison squared’Business Insider
Charlie Munger compares cryptocurrencies to “turds” and “dementia”Quartz
The Independent –AsiaOne –CNBC
all 647 news articles »

Yahoo Finance

Why bitcoin is 'rat poison' to Buffett, 'turd' to Munger
Yahoo Finance
It's no secret that Warren Buffett is not a fan of cryptocurrency like bitcoin, which he calls “probably rat poison squared.” But the real reason? He just doesn't like gold. A long-time value investor, Buffett compares cryptocurrency to gold, which he ...
Warren Buffett says bitcoin is 'probably rat poison squared'CNBC
WARREN BUFFETT: Bitcoin is 'probably rat poison squared'Business Insider
Charlie Munger compares cryptocurrencies to “turds” and “dementia”Quartz
The Independent -AsiaOne -CNBC
all 647 news articles »

Ethereum price analysis – Bulls still on top!

  Ethereum price continued on rising today to score a day high of $830 earlier today. The price of ether has been recording higher day highs for four successive days now. Moreover, the closing day price has been rising since last Wednesday. The bulls’ control over the market is growing stronger as the price of ether is heading steadily towards a significant resistance level near $850. The rise in ethereum price is mirroring bitcoin’s soaring price which is approaching the $10,000 price mark. Can we see the resistance around $849.08 breached before the end of the current week? 4 successive

 

Ethereum price continued on rising today to score a day high of $830 earlier today. The price of ether has been recording higher day highs for four successive days now. Moreover, the closing day price has been rising since last Wednesday. The bulls’ control over the market is growing stronger as the price of ether is heading steadily towards a significant resistance level near $850. The rise in ethereum price is mirroring bitcoin’s soaring price which is approaching the $10,000 price mark.

Can we see the resistance around $849.08 breached before the end of the current week?

4 successive bullish candlesticks on the 1 day ETHUSD chart:

We will examine the 1 day ETHUSD chart from Bitfinex, while plotting the Ichimoku Cloud, the MACD indicator, and the Williams Alligator indicator, as shown on the below chart. We will maintain the Fibonacci retracements  we plotted during an earlier analysis, which extend between the low recorded on October 23rd, 2017 ($273.50), and the high recorded on January 13th, 2018 ($1,424.06). We can note the following:

  • After the 61.8% Fib. retracement ($713.24)(horizontal orange line) was breached last Wednesday, the rate of rise in ethereum price increased significantly. This is evidenced by the long body of the bullish candlestick that corresponds to Wednesday’s trading session. Since then, 4 successive bullish candlesticks have been formed, and higher highs have been recorded each and every day. However, the relatively long upwards shadows of candlesticks that correspond to Saturday’s and Friday’s trading sessions, denote that there is increased resistance towards the 50% Fibonacci retracement ($849.08) (horizontal green line).

 

  • The MACD indicator is still bullish, as its value is in the positive territory. The MACD blue line is also above the red signal line. This reflects that the bullish wave is still active.

 

  • The Ichimoku Cloud has turned into the green color (bullish). Candlesticks are above the cloud and moving further away from it, which reflects that the bullish wave is getting stronger. The Conversion Line (blue line) has crossed above the Base Line (red line). Ethereum price is above the level of the Base Line (red line). The Leading Span A (green) line of the cloud represents a support level on the downside, so $660 represents a strong support level that is very unlikely to be breached during the next 26 days (Note: the Ichimoku Cloud is shifted 26 periods into the future).

 

 

  • As such, the most logical scenario is to see the price of ether continue rising towards $849.08 during the next few days. From the downside, levels of support are $713.24, followed by $660.

Let’s take a look at the 4 hour ETHUSD chart from Bitfinex, while plotting the 50 period, 100 period, and 200 period SMAs, as shown on the below chart. We can note the following:

  • The price of ether is still moving along the upwards trend line that has been evident since April 7th. Even more, the relatively long downwards shadows of candlesticks near $770 denote that this price level is starting to act as a support level.

 

  • The 50 period SMA has crossed above the 200 period SMA, as we stated during our previous ethereum price analysis. Now, the 50 period SMA has crossed above the 100 period SMA, and the 100 period SMA is about to cross above the 200 period SMA. These are all referred to as “bullish crossovers” and point to the strength of the current bullish wave.

Conclusion:

Ethereum price is still rising, successfully recording a day high of $830 on Saturday. As per our technical analysis, the price of ether will most probably continue on rising towards $850, before a strong downwards price correction attempt becomes evident.

Charts from Bitfinex, hosted on Tradingview.com

 

Ex-Governor Says Fed Digital Currency Needs “Serious Consideration”

Kevin Warsh, former Federal Reserve (Fed) Governor has suggested that the creation of a “FedCoin” needs “serious consideration,” reports the New York Times. The concept of a cryptocurrency called FedCoin has provoked interest over past years, based on an idea proposed in 2014 by blogger JP Koning. Since then the idea has been much discussed, …

The post Ex-Governor Says Fed Digital Currency Needs “Serious Consideration” appeared first on BitcoinNews.com.

Kevin Warsh, former Federal Reserve (Fed) Governor has suggested that the creation of a “FedCoin” needs “serious consideration,” reports the New York Times.

The concept of a cryptocurrency called FedCoin has provoked interest over past years, based on an idea proposed in 2014 by blogger JP Koning. Since then the idea has been much discussed, and the term is now generically used to describe a Central Bank digital currency which could be overseen by the Federal Reserve, IMF, and the World Bank.

Warsh wants to bring legal activities into a “legal coin,” suggesting that digital currency is still thought of by many banks as a risk, despite major banks beginning to warm up to its adoption, such as Goldman Sachs’ recent announcement that they would start trading in bitcoin futures in the next two months.

“Most central banks have a view that these crypto-assets are clever, like guys in the garage did it and it’s kind of cool, or risky,” referring to recent frauds and coin volatility. Warsh feels that central banks should treat digital currencies as more than a novelty if people see it as the future.

Chairman of the Federal Reserve Jerome Powell, has already made some positive gestures towards blockchain — the technology behind digital currency, since his appointment earlier this year saying, ” We actually look at blockchain as something that may have significant applications in the wholesale payments part of the economy.” He went on to suggest that he could see cryptocurrencies as a “reliable unit of account” rather than just a “speculative asset,” given that the next generation of cryptocurrencies look more like money and had less volatility.

Major central banks now experimenting with digital currencies and/or blockchain are growing, including The Bank of England, the Banque de France, the People’s Bank of China, the Bank of Canada, the Central Bank of Russia and the Dutch central bank.

It remains to be seen if the Federal Reserve in the US  joins these forerunners that are currently all considering the merits and the pitfalls of issuing their own blockchain-based digital currency.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom
Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image source: Pixabay (TheDigitalArtist, CC0 License)  

The post Ex-Governor Says Fed Digital Currency Needs “Serious Consideration” appeared first on BitcoinNews.com.

Search and Trade Directly with AirSwap: A Merkle Exclusive with Co-Founder Don Mosites

AirSwap launched last week, enabling more than a million dollars in trades on day one. Offering a way for buyers and sellers to find each other and trade directly, AirSwap isn’t like traditional or decentralized exchanges. Find out more about AirSwap in our exclusive interview with co-founder Don Mosites. The Merkle: Hi Don, thanks for speaking with us. I first reached out to you when I was writing a piece on decentralized exchanges (DEXs), and you told me that AirSwap isn’t a DEX because it’s more of a discovery service for peer-to-peer trading. How would you describe AirSwap? Don Mosites:

AirSwap launched last week, enabling more than a million dollars in trades on day one. Offering a way for buyers and sellers to find each other and trade directly, AirSwap isn’t like traditional or decentralized exchanges. Find out more about AirSwap in our exclusive interview with co-founder Don Mosites.

The Merkle: Hi Don, thanks for speaking with us. I first reached out to you when I was writing a piece on decentralized exchanges (DEXs), and you told me that AirSwap isn’t a DEX because it’s more of a discovery service for peer-to-peer trading. How would you describe AirSwap?

Don Mosites: Thanks for having me. Yes, we don’t see AirSwap as a DEX. We believe the concept of “exchange” itself is already decentralized on the blockchain between peers. Our system lets those peers find each other and make trades directly. So technically, we’re more of a marketplace, and our platform is powered by search.

The Merkle: Could you give some background on why AirSwap is set up differently from DEXs and traditional order book setups?

Don Mosites: When my friend and co-founder Michael Oved first connected to the Ethereum community, he began to apply his experience in algorithmic trading and electronic markets to figure out decentralized trading designs. His early research revealed some limitations of decentralized order books.

Order books evolved as fast and predictable systems that prioritize and execute orders. Decentralizing this process creates a difficult coordination problem. Last year, 0x created a protocol for “relayers” to decentralize order books, which still faced race conditions, front running, and having to pay for cancels, which is a non-starter for market makers.

Seeing this, we opted to instead focus on peer-to-peer, in the spirit of the original Bitcoin white paper. With AirSwap, all three components of trade are decentralized: custody, execution, and settlement. We simply provide a peer discovery service called an Indexer, which looks and feels like a bulletin board with a search engine.

The Merkle: What are the advantages of this setup?

Don Mosites: First, AirSwap can scale with the growing token economy as market makers come online and trade more and more assets, and because trades are peer-to-peer, there are no fees on those transactions. As for pricing, given that we’re built for market makers, spreads will be tighter and you’ll see pricing comparable to centralized systems as more makers come online.

The Merkle: There are so many DEXs and centralized exchanges available today, where do you see AirSwap in all this? How do you stack up against competitors like 0x OTC and Radar Relay?

Don Mosites: We bring security, efficiency, and better pricing to decentralized trade. Just opening the platform last week, over $1 million of trades were made through the marketplace, and we had an incredibly positive community response. AirSwap offers more efficient trading and does not suffer the limitations of decentralized order books as mentioned before. Users are always in control of their assets and make trades directly, peer to peer. Because trades are direct between peers, there’s less friction, and pricing will be better than alternatives, even comparable to centralized systems.

The Merkle: What are some of the security measures you’ve taken to ensure that AirSwap is reliable for users? Are you doing any outside code auditing or other forms of security measures?

Don Mosites: We had two independent auditors look at our smart contracts available on our GitHub. We’re also confident in our security posture because we don’t handle users’ funds or settle trades. That all happens on-chain, between individuals, using smart contracts.

The Merkle: What’s the number one piece of advice you’d offer to new investors in the space?

Don Mosites: Pick up a hardware wallet, because dealing in keystore files and private keys on your own is dangerous. Decentralization means security is in your hands, so you need to be very careful about how you control your assets.

The Merkle: Where do you see blockchain technology heading in the long term? What do you think will be the effects?

Don Mosites: This is a huge question, but where we can have an impact is in the reduction of expensive and fragile trust systems of exchange, replacing them with new ways for people around the world to safely transact without intermediaries.

The Merkle: What motivates the AirSwap team to create projects in this emerging market?

Don Mosites: So much about what we’re doing is powerful in how it makes us feel. As technologists, it’s incredible to put these tools to work and see a positive impact. There’s a real chance to make the world a safer and more efficient place to trade, and we think the power of that is yet to be seen.

Bitcoin Price Watch: Currency Surges Past $9,800

Bitcoin now sits beyond the $9,800 mark. This is a $200 rise from yesterday’s $9,600, which in turn was about $200 more than bitcoin’s previous high. Sentiment is growing that the currency could surpass $10K as early as next week. According to one analyst, bitcoin needed to jump past $9,200 to increase its “bullish profile,” which would ultimately get confirmed at a trading figure of $9,500. He further states that moving past $9,600 would enable further bullish trends. This has ultimately occurred, and the bull run bitcoin is enjoying is likely to continue into the summer months. In the meantime,

Bitcoin now sits beyond the $9,800 mark. This is a $200 rise from yesterday’s $9,600, which in turn was about $200 more than bitcoin’s previous high. Sentiment is growing that the currency could surpass $10K as early as next week.

According to one analyst, bitcoin needed to jump past $9,200 to increase its “bullish profile,” which would ultimately get confirmed at a trading figure of $9,500. He further states that moving past $9,600 would enable further bullish trends. This has ultimately occurred, and the bull run bitcoin is enjoying is likely to continue into the summer months.

In the meantime, adoption and popularity for bitcoin and cryptocurrency in general continues to grow in Asia. A hardware wallet company known as Tangem, for example, is now issuing what it calls “bitcoin banknotes” worth approximately $0.01 to $0.05 that allow people to engage in physical transactions using bitcoins. The company has issued over 10,000 separate notes to its financial partners, and is looking to produce “millions” more by the end of the year.

A bigger boost comes by way of South Korea. The country’s national bank has expressed interest in issuing a Central Bank Digital Currency (CBDC), and is currently studying the effects such an asset would have on the region’s economy. The plan is to issue the currency by the second half of 2018.

Representatives of the bank stated:

“A taskforce has been studying the possibility of issuing a CBDC and how digital currencies will influence the country’s overall financial sector since January. We will announce updates on this issue by the end of June.”

Experts say heading into a cashless society could cut costs for Korea’s GDP by 1.1 percent. Analyst Kwan Hyun-soo at Shinhan Investment Corp. explains, “It can open the underground economy, and thus enhance equivalence in taxation. The shoebox full of 50,000 won banknotes that you see in movies will disappear.”

However, many have also voiced their concerns that a national digital currency could “destabilize traditional lenders.”

Aside from bitcoin, Ethereum is also enjoying a major price boost. The currency rose by approximately 2.67 percent just over 24 hours, and is trading for over $780 at press time. The asset is slated to hit $800 sometime next week, and the bull run is looking solid. Ethereum is now striking 2017 territory, and many are wondering if the currency will stand at $1,000 later in the month.

Sergey Brin, a co-founder of Google, says that ether mining has garnered newfound popularity, and is responsible for a sudden “boom in computing.”

“We are truly in a technology renaissance,” he commented. “An exciting time where we can see applications across nearly every segment of modern society.”

In addition, many are starting to place their bets on where they think ether will stand by the end of 2018. CEO of De Vere Nigel Green believes that one ether coin could be worth as much as $2,500, while Alexis Ohanian of venture capital firm Initialized Capital is even bolder in his prediction, saying that the currency could reach $15,000 by the year’s end.

“People can call me out if I am wrong,” he assures.

Renowned Economist Tears Into Bitcoin, Calling it Bulls**t – The Merkle

The MerkleRenowned Economist Tears Into Bitcoin, Calling it Bulls**tThe MerkleWithout wasting any time, Roubini started tearing into Bitcoin in his opening statement. In the last year, everyone rushed to Bitcoin to take advantage of its fast rise to $2…


The Merkle

Renowned Economist Tears Into Bitcoin, Calling it Bulls**t
The Merkle
Without wasting any time, Roubini started tearing into Bitcoin in his opening statement. In the last year, everyone rushed to Bitcoin to take advantage of its fast rise to $20,000, and once people realized that it was “the mother of all bubbles, the ...

and more »

How to Create a Bitcoin Paper Wallet or Paper Bill – Bitcoin News (press release)


Bitcoin News (press release)

How to Create a Bitcoin Paper Wallet or Paper Bill
Bitcoin News (press release)
How to Create a Bitcoin Paper Wallet or Paper Bill. Bitcoin might be digital but it’s equally suited to being stored and shared in the analogue world. Whether you’re looking for a way to safely store your coins, to issue paper bills that are made out

and more »


Bitcoin News (press release)

How to Create a Bitcoin Paper Wallet or Paper Bill
Bitcoin News (press release)
How to Create a Bitcoin Paper Wallet or Paper Bill. Bitcoin might be digital but it's equally suited to being stored and shared in the analogue world. Whether you're looking for a way to safely store your coins, to issue paper bills that are made out ...

and more »

Wisconsin Seeks Approval for Bitcoin Campaign Donations

The Wisconsin Ethics Commission has asked the state Legislator to decide on allowing campaign contributions to be made in digital currency, reports Associated Press (AP). The Washington Times reports that the chairmen of Senate and Assembly elections committees have been asked to “provide clarity to candidates and committees as to whether they may accept contributions of …

The post Wisconsin Seeks Approval for Bitcoin Campaign Donations appeared first on BitcoinNews.com.

The Wisconsin Ethics Commission has asked the state Legislator to decide on allowing campaign contributions to be made in digital currency, reports Associated Press (AP).

The Washington Times reports that the chairmen of Senate and Assembly elections committees have been asked to “provide clarity to candidates and committees as to whether they may accept contributions of cryptocurrency.” On Friday the commission’s administrator requested that the chairman of Senate and Assembly elections to address the issue which has been in the pipeline for some time.

Wisconsin Libertarian Party Chairman Phil Anderson at an early meeting on Tuesday also asked to allow bitcoin donations, citing the increasing popularity of virtual currencies. A barrier until now has been bitcoin’s fluctuating value making it difficult for campaigns, bound by limits on how much money they can accept from individual donors.

BTCManager reports that US states are still skeptical in allowing digital currency as campaign contributions. Anderson’s suggestion of in-kind conversions of bitcoin at the point of receipt is already being adopted by legislators in both Washington D.C. and Montana. Kansas has rejected the proposal, and California legislators have advised against it.

In March of this year a Republican party runner from Missouri, Austin Petersen, received 24 bitcoins in his campaign, making it the largest single amount received by a candidate in cryptocurrency. It’s suggested that his age played a part, at 37 being more accepting and less distrusting of new technology. He commented:

“As someone who strongly believes in deregulating money, it was a natural fit for me to accept Bitcoin for my campaign and I’m more than delighted to be the US record holder for the largest donation to a candidate in US history.”

The situation can be different overseas; in Russia for example, Alexei Navalny, who ran against Vladimir Putin prior to his reelection, is reported to have received $6 million donations to his campaign in bitcoin.

Follow BitcoinNews.com on Twitter at @BitcoinNewsCom
Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image source: Pixabay (Tom Bark, CC0 License)

The post Wisconsin Seeks Approval for Bitcoin Campaign Donations appeared first on BitcoinNews.com.

Renowned Economist Tears Into Bitcoin, Calling it Bulls**t

In case you were wondering, Nouriel Roubini’s stand on Bitcoin and other cryptos hasn’t changed a bit. He still thinks cryptos are a scam, and believes Bitcoin is “bulls**t”. In a panel discussion at the Milken Institute in Los Angeles, the economist who lectures at New York University referred to late Bitcoin entrants as “suckers” who would end up being preyed on by the earlier entrants. The panel consisted of Abra’s CEO and founder, Bill Barhydt, Alex Mashinsky, CEO of crypto lending pool Celcius Network, and Brent McIntosh, general counsel for the U.S. Treasury. It was moderated by Anna Irrera, a journalist from

In case you were wondering, Nouriel Roubini’s stand on Bitcoin and other cryptos hasn’t changed a bit. He still thinks cryptos are a scam, and believes Bitcoin is “bulls**t”. In a panel discussion at the Milken Institute in Los Angeles, the economist who lectures at New York University referred to late Bitcoin entrants as “suckers” who would end up being preyed on by the earlier entrants.

The panel consisted of Abra’s CEO and founder, Bill Barhydt, Alex Mashinsky, CEO of crypto lending pool Celcius Network, and Brent McIntosh, general counsel for the U.S. Treasury. It was moderated by Anna Irrera, a journalist from Reuters who had to step in time and again as the debate got heated.

The Mother Of All Bubbles?

Without wasting any time, Roubini started tearing into Bitcoin in his opening statement. In the last year, everyone rushed to Bitcoin to take advantage of its fast rise to $20,000, and once people realized that it was “the mother of all bubbles, the biggest bubble in human history”, its price steadily fell to its current level, Roubini begun. Those who arrived late to the party were the “suckers” who bought from the early investors who made millions from them, as is typical of any bubble.

Bitcoin isn’t a currency, he continued, as it doesn’t fulfill the three primary roles of a currency – a unit of account, a means of payment, and a stable store of value. Quoting Ethereum’s founder Vitalik Buterin, he said that cryptos were faced with a dilemma between providing scalability, security and decentralization.

And the reality is, all this talk about decentralization is just bulls**t. It’s bulls**t because all the solutions that have been found so far to the problem of scalability, going from five transactions per second, means that Bitcoin is never going to be used as a means of payment, implying massive concentration risk and centralization and therefore no security.

He went on to further blast the rising centralization of mining activities in the Bitcoin and Ethereum ecosystems, claiming that the top three Bitcoin miners control over 55% of the mining activity, with Ethereum faring even worse as 61% of the mining activity is controlled by the top three miners.

The entire industry is becoming a massive concentration, and the concentration is increasing. The oligopoly power of the miners is becoming bigger for technical and technological reasons. There’s no decentralization. It’s just bulls**t.

The ‘pro-crypto’ members of the panel were quick to counter Roubini’s assertions, with Mashinsky explaining how decentralization is changing the world, giving the example of his own experience as a pioneer in Voice Over IP (VoIP) development in the 90s. The crypto and blockchain revolution is the next phase, with Money Over IP (MoIP) technology bringing down the cost of transferring value to zero. Abra CEO Bill Barhydt also stated that having worked in various capacities including as a cryptographer for the CIA, he views cryptos as solving problems that couldn’t possibly be solved in any other way. These include global decentralized investing, global funds transfers – which, using smart contracts and second layer technology, can now scale to Visa’s numbers – consumer asset finance, and more.

You Won’t Even Know You Are Using It

Barhydt had an interesting analogy in which he likened decentralized technology and cryptos to the TCP/IP protocol.

When you use Netflix, you make a TCP/IP connection to a server. I’m willing to bet that none of you [have] any idea what that means. And that’s good. If you had to know what that means to use Netflix, you wouldn’t use Netflix. Bitcoin will work in the same way. You’ll be using blockchain tech and cryptos to make payments, move money and use credits, and you won’t even know it.

As the panel shared its thoughts on the future of money, the vulnerabilities that cryptos face, the role of the government in the crypto ecosystem, and the centralization of the mining process, the debate got heated as Roubini accused Barhydt and Mashinsky of making stuff up, to which Mashinsky had a swift response.

You don’t even own any crypto. How can you talk about it? Why don’t you buy one coin and then you can tell us how it works.

While many will be quick to dismiss Roubini as biased against Bitcoin and blockchains – he does have a history, after all – some of the issues he raised are pertinent to the future prosperity of the crypto industry. The earlier they are addressed, the better it will be for this industry.

What Is Zebi Cryptocurrency?

India’s annual digital data consumption is on the rise, and many experts predict that by 2020, the South Asian nation will consume around 3 zebibytes of information per year (1 zebibyte is approximately one trillion gigabytes). However, amidst all of this, there has also been a sharp increase in the number of cases of data hacks, data leaks, data tampering, and identity thefts, which have been found to cost private and public Indian organizations an estimated annual loss of $30 billion. Zebi is an all-new blockchain-driven digital solution that aims to make high-value, sensitive data readily available for legitimate use. Owing

India’s annual digital data consumption is on the rise, and many experts predict that by 2020, the South Asian nation will consume around 3 zebibytes of information per year (1 zebibyte is approximately one trillion gigabytes). However, amidst all of this, there has also been a sharp increase in the number of cases of data hacks, data leaks, data tampering, and identity thefts, which have been found to cost private and public Indian organizations an estimated annual loss of $30 billion.

Zebi is an all-new blockchain-driven digital solution that aims to make high-value, sensitive data readily available for legitimate use. Owing to its use of a highly secure core infrastructure, Zebi is able to protect its users against third-party hacking and tampering, while obtaining consent from participating individuals.

The platform consists of the Zebi Chain, whose main aim is to provide immutability to critical records, coupled with a central hub called Zebi Data Gateway which assists in secure and instant data exchange through Data-as-a-Service (DaaS) APIs.

Additionally, Zebi can be integrated fully with the Ethereum blockchain.  Zebi Chain provides customers with a high degree of flexibility in relation to private/public blockchain utilization as well as smart contract deployment. As a result, the platform makes sure that all data exchanges occur only with the consent of involved parties, and that each individual stakeholder receives his or her deserved share of data monetization.

Overview of the platform

  • Due to its ability to facilitate secure data transactions, Zebi can be used within industries such as education, healthcare, employment, credit scoring, and fraud detection.
  • Zebi’s proprietary, patent-pending solution is unique. All digital development of the platform has been carried out by an affiliate company called Zebi Data India Pvt. Ltd.
  • The Zebi platform has been well received in India, and the parent company has already signed a multi-year contract to implement Zebi Chain to safeguard land assets for various state entities.
  • All internal monetary transactions are facilitated through the use of a native currency called Zebi Coin (ZCO).

Key Features

When looked at broadly, we find that the Zebi ecosystem consists primarily of 2 interconnected proprietary components, Zebi Chain and Zebi Data Gateway. Both of these solutions are designed to protect individuals, data providers and data requesters as well as to facilitate the secure, seamless exchange of information among the aforementioned parties.

Zebi Chain can be thought of as a proprietary lightweight satellite application that can be installed by various data providers, providing them with a high level of immutability, primarily through the use of blockchain-based ledgers.

Primary offerings of the Zebi ecosystem

Also worth mentioning is the fact that the number of nodes in the private blockchain are entirely configurable and can be integrated with Ethereum’s public blockchain for complete data security.

Domains in which Zebi can be implemented

The Zebi Data Gateway is the portal which links all of the participants within the Zebi Chain. It’s got a simple registration process and can facilitate instant data exchanges through uniquely constructed DaaS APIs and by procuring individual consent wherever needed.

How it works

As mentioned previously, Zebi Chain is one of the two main components of the Zebi platform. It can be configured and installed on the existing digital infrastructures of educational institutions, enterprises, or even government departments which generate, issue, update and facilitate data required by data requesters.

Visual representation of how Zebi Chain works

The application is extremely lightweight and can be set up within a matter of minutes. Some of its key aspects include:

  • Serves as a single node application or a private permissioned blockchain for a group of data owners
  • Allows for efficient DaaS API-based data exchange processes
  • Minimizes the effort required to attend to data requests and manual checking of records

Overview of the platform

The Zebi Data Gateway connects with Zebi Chain installations and allows individuals and data requesters to facilitate secure and seamless data exchange via blockchain-powered DaaS APIs. A registered requester has the ability to submit a data request by filling in relevant details including those related to the individuals and data providers involved.

Every part of the aforementioned process is automated, and thus there is a true paperless exchange of information. Moreover, all communications and transactions are recorded on immutable blockchain-based audit trails.

About the team

Babu Munagala is the co-founder and chief executive officer of Zebi Data India Pvt. Ltd. Munagala has been in the Asian digital space for more than a decade and has previously worked in conjunction with various high-profile government-affiliated tech entities.

Sudheer Kuppam is the co-founder of this project. Prior to getting on board at Zebi, Sudheer was the former managing director at Intel Capital as well as the founder of his own venture capital firm, Epsilon Venture Partners.  

Token Performance Details

All monetary transactions taking place within the Zebi ecosystem are governed by a native currency called Zebi (ZCO).

ZCO token lifetime performance chart (courtesy of CoinMarketCap)

Released into the crypto market less than a week back, ZCO tokens are currently surging in value. As of May 5, the price of a single coin currently stands at $0.179.

However, due to the newness of this currency, it is still hard to predict how its value will evolve in the coming months.

Final thoughts

Zebi promises to deliver a unique blockchain-driven, holistic solution that can make high value and sensitive data readily available for legitimate use. Not only that, Zebi also safeguards consumer data against hacking and tampering, while obtaining consent from individuals.

As a result of its amazing technological framework, it would not be surprising to see Zebi do extremely well this year.

If you would like to start investing in Zebi, ZCO trading pairs are currently being offered on Qryptos and IDEX.

Warren Buffett says bitcoin is ‘probably rat poison squared’ – CNBC


CNBC

Warren Buffett says bitcoin is ‘probably rat poison squared’
CNBC
Bitcoin is “probably rat poison squared,” he said. Buffett is presiding at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday. Charlie Munger, Berkshire’s vice chairman and long-time Buffett collaborator, said during the meeting that
WARREN BUFFETT: Bitcoin is ‘probably rat poison squared’Business Insider
Buffett’s Berkshire Hathaway bought a stunning 75 million Apple shares in first quarterCNBC

all 616 news articles »


CNBC

Warren Buffett says bitcoin is 'probably rat poison squared'
CNBC
Bitcoin is "probably rat poison squared," he said. Buffett is presiding at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday. Charlie Munger, Berkshire's vice chairman and long-time Buffett collaborator, said during the meeting that ...
WARREN BUFFETT: Bitcoin is 'probably rat poison squared'Business Insider
Buffett's Berkshire Hathaway bought a stunning 75 million Apple shares in first quarterCNBC

all 616 news articles »

Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms

Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining FarmsState news agency Telesur reports Venezuela president Nicolás Maduro has announced formation of a youth bank funded by the country’s recently launched cryptocurrency, the Petro. Mr. Maduro also took the opportunity to urge countrymen to continue mining its state-backed digital money, including creation of mining farms. Also read: Only 1% of Business CIOs are Actually […]

The post Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms appeared first on Bitcoin News.

Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms

State news agency Telesur reports Venezuela president Nicolás Maduro has announced formation of a youth bank funded by the country’s recently launched cryptocurrency, the Petro. Mr. Maduro also took the opportunity to urge countrymen to continue mining its state-backed digital money, including creation of mining farms.

Also read: Only 1% of Business CIOs are Actually Using ”Blockchain” Technology

Venezuela’s President Creates Crypto Funded Youth Bank

Embattled Venezuelan president Nicolás Maduro, ahead of a contentious May 20 national election, has launched a ‘youth bank,’ funded by the state-backed cryptocurrency Petro. Aimed at appealing to its younger population, 20 million petros are to be allocated.  

Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms

Petro is a closely watched experiment for countries feeling the sting of sanctions meted out by the likes of industrial powers such as the United States, sanctions the once-oil rich government routinely points to for its current economic ills. Mr. Maduro seems to have worked closely with Russian operatives to bring about a first: a state backed, oil backed cryptocurrency. The country’s current economy is in shambles, and daily horrors abound, flooding headlines.

Mr. Maduro noted over $1 billion in petro will be used to prop up the new bank, a bank which will function in ways that are unclear as of this writing. And though petro is itself a divisive issue among branches of the government, such as the legislature, Mr. Maduro has quipped he’s looking into yet another state crypto launch, this time backed by gold. For its part, the Trump administration has openly ordered United States citizens and businesses to not participate in any aspect of petro.

Mining Farms  

The country has also become a use case for decentralized, open source cryptocurrencies such as bitcoin cash (BCH). As reported in these pages, “‘eat BCH’ has been offering help to Venezuelans suffering from difficult economic times. The group has been collecting bitcoin cash donations for the past few months and have been using the funds to purchase food and feed Venezuelans who are in need of assistance. Nearly every single day for over three months the group’s Twitter handle shows pictures of children and adults getting all kinds of food — and it’s all paid for with bitcoin cash.”

Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms

The president also used the announcement to continue his urging of large scale mining of petro throughout the country. He pointed toward the need for universities to create mining farms to buttress the national crypto.

As we reported last month, “Venezuela is calling for its citizens to build cryptocurrency mining farms throughout the country. The government has set up a crypto mining program which president Nicolas Maduro hopes will attract at least 1 million people such as university students, the unemployed, single mothers and the homeless.”

What are your thoughts on the petro? Let us know in the comments below.


Images via Pixabay.


Looking for a Bitcoin Cash Block Explorer? Check out Bitcoin.com’s BCH Block Explorer today to find transactions, blocks, and other important blockchain data. 

The post Venezuela’s President Launches Crypto Funded Youth Bank, Encourages Mining Farms appeared first on Bitcoin News.