Day: May 8, 2018

Investing app Circle Invest has announced that it is adding Monero (XMR) to its list of supported cryptocurrencies. Currently, it includes functionality for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), and Zcash (ZEC). Circle allows for instant buying and selling directly connected to user bank accounts.

Monero has a market cap of USD 3.75 billion as of this writing, and is unique from Bitcoin in that it uses the CryptoNote protocol, which obfuscates sender, recipient, and transaction amounts. This makes Monero virtually untraceable, and is a preferred cryptocurrency when anonymity is the priority.

Circle was founded in 2013 and since that time has become one of the most popular places to buy and sell cryptocurrency. The company trades over USD 2 billion of cryptocurrency per month, providing excellent liquidity for traders and investors. Circle Invest doesn’t charge any commissions on investments, making it much more attractive than investing in stocks which almost always requires paying a broker commission. There is a 1.5-2% spread between buy and sell prices on Circle Invest, which is how it makes money, but such a spread is completely normal for a cryptocurrency exchange.

A caveat of Circle Invest is that users can’t withdraw their coins into personal wallets. Instead, they must keep coins in the Circle Invest wallet, and as cryptocurrency prices fluctuate their USD equivalent balance changes. The user can sell their coins at any time for USD which is directly deposited into their bank.

Generally, it is best to move coins into a personal wallet when investing in cryptocurrency, to ensure that coins are fully in possession and secure. However, this makes selling much slower than when using Circle Invest as it takes times to send cryptocurrency from its wallet to an exchange. Also, when buying cryptocurrency from an exchange that allows users to withdraw coins, it generally costs at least 5% of fees, on top of the spread between buy and sell prices, resulting in significantly more costs than when using Circle Invest.

Circle Invest is expected to add even more cryptocurrencies and digital assets in the future in its quest to become the top cryptocurrency investment platform.

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It seems another interesting development is on the horizon for the Bitcoin Cash ecosystem. After some technical upgrades and the upcoming hard fork to further improve the technology, there is now a crowdfunding platform with BCH support. Known as Coinfundr, this platform is scheduled to launch later this month.

Crowdfunding With Bitcoin Cash can Work

It is evident the world of crowdfunding can benefit tremendously from cryptocurrencies. This is especially true when looking at the problems platforms such as Kickstarter and Indiegogo have suffered from in the past. Backers of projects are not too amused with how both companies have handled negative developments, and there is still a lot of room for improvement. Unfortunately, it seems unlikely either company will ever embrace cryptocurrencies.

As such, it makes a lot more sense to build completely new crowdfunding platforms which primarily focus on cryptocurrencies. Coinfundr is one of those projects, although it will focus solely on Bitcoin Cash. That is a very interesting development, as Bitcoin Cash has made a positive impact on the cryptocurrency industry over the past few months.

Up to this point, there haven’t been too many crowdfunding efforts associated with cryptocurrencies. Platforms such as BnkToTheFuture are quite popular, but they are among the only platforms which can make any sort of impact at present. Additionally, one could argue the initial coin offering industry has some crowdfunding aspects to it as well, although there is no unified approach to this industry as of right now.

Although it is still a bit unclear how Coinfundr will work exactly, it seems its layout will be quite similar to those of traditional crowdfunding platforms. The big difference is that this platform will only support Bitcoin Cash. Only time will tell how that decision plays out, but there is a genuine reason to be excited about this approach.

There also appears to be ShapeShift support when it comes to Coinfundr. Again, it is not clear how this will work exactly, but it seems this method may be used to convert from other cryptocurrencies to Bitcoin Cash. It’s an interesting approach if true, although there is no guarantee things will work out in this regard.

Cryptocurrencies will make a big impact on the crowdfunding industry over time. Whether that will happen through proprietary platforms or because existing companies will finally embrace bitcoin and altcoins is very difficult to predict right now. Both approaches seem to be more than valid, although the latter scenario may not occur anytime soon. There are a lot of interesting opportunities waiting to be explored in the crowdfunding industry; that much is evident.

Microsoft Azure launches its blockchain app creation accelerator tool

Ethereum creator Vitalik Buterin has issued new details on his vision for proof-of-stake, ethereum’s coming consensus change.

Microsoft has released the Blockchain Workbench on its Azure cloud computing platform, which promises to streamline blockchain-based application development. One of the most popular cloud computing services; it provides web developers and programmers numerous different types of servers, computers and databases for rent.

Since the beginning of cryptocurrency, people have used cloud computing platforms like Microsoft Azure to mine cryptocurrency, a process where a computer solves cryptographic hashes to maintain and secure the network and is rewarded coins in return. In recent years, blockchain-based applications and technology have led to some of the biggest advancements in the crypto world, and people are using cloud computing to build their own blockchain-based apps. It is easier and initially cheaper than buying all the necessary equipment. With cloud computing, a user can rent as much computing power as they need instantly, and thoroughly develop their application before investing in physical equipment.

Microsoft Azure Blockchain Workbench claims to provide everything needed to start a blockchain-based application within a few easy clicks. This saves developers a lot of time by automating the process of linking the different types of computers and databases required for a blockchain-based application to function, which is known as scaffolding. Developers can instead spend their time focusing on developing the logic for their blockchain-based application; this logic is generally contained within smart contracts that directly interact with the blockchain making the application cryptographically secure.

Overall, Blockchain Workbench should reduce blockchain-based application development time from months to days, since it provides all the underlying infrastructure needed for the application to work with a blockchain. This will help bring blockchain-based applications into the mainstream, since developers who have no experience with blockchain technology can simply use the Blockchain Workbench and make a fully functioning blockchain-based app.

Microsoft Azure previewed the Blockchain Workbench in a beta test that hundreds of people participated in, resulting in innovative new uses of blockchain technology. Bank Hapoalim of Israel used the Blockchain Workbench to create an application that simplifies the process of issuing bank guarantees for large purchases like real-estate. Nestle created an application that tracks the movement of its Bacio Perugina chocolate through the supply chain.

This latest development could lead to many more blockchain technology success stories, since it makes blockchain technology accessible to developers and programmers like never before.

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Although it almost seemed as if the cryptocurrency markets would see some positive momentum today, the reality tends to work out completely different. In the entire top 10, there is only one currency noting some decent gains. More specifically, the IOTA price has risen by a surprising 13.12%, pushing its value to almost $2.5 once again.

IOTA Price Momentum Remains Impressive

It has to be said, the IOTA price is doing something other currencies simply cannot match at this time. It is not entirely surprising to see how this altcoin is rising in value, a sit seemingly has a somewhat solid business model. Even so, one wouldn’t expect such a steep price increase when Bitcoin is facing a lot of bearish pressure. Whether or not this IOTA price momentum will remain in place for long, is a different matter altogether.

Over the past 24 hours, the IOTA price has increased by 13.12%. That is rather impressive, especially when considering how so many currencies are suffering from small to medium-sized losses in the same period. This industry will always remain unpredictable first and foremost, which can be both a blessing and a curse at the same time more often than not.

It is also interesting to note how the IOTA price gains came to be thanks to a solid gain over Bitcoin. A 14.21% increase in the MIOTA/BC ratio is impressive, although it remains to be seen if people will eventually convert MIOTA back to Bitcoin once the world’s leading cryptocurrency sees more positive momentum. That is usually how things evolve in the cryptocurrency world, as altcoins are often considered to be “small fish” compared to Bitcoin.

With $229.834m in 24-hour trading volume, IOTA isn’t breaking any records either as of right now. While that is not necessarily a bad figure, it is far less than people would expect given the current IOTA price momentum. It will be interesting to see if this current IOTA price trend will increase the overall trading volume or not. Usually, the volume is ahead of the price action, but this trend is a bit different.

As of right now, Bitfinex is the leading exchange in terms of MIOTA trading volume. Its lead over Binance is not all that big, though, and Coinone is not that far behind either. OKEx completes the top five with its USDT and BTC pairs. There are two fiat currency pairs in the top five for MITOA, which should be sufficient to keep the IOTA price trend going for a few more hours.

Whether or not the IOTA price will be the only market worth keeping an eye on today, remains to be determined. Anything can happen in the cryptocurrency industry, but things are not looking great for the top markets as of right now. Then again, this current setback seemingly has nothing to do with actual news and is more of a game between whales turning out in favor of the bears.

Blockchain technology can make a big impact in various industries. Outside of the financial sector, a few options are being explored right now. The medical industry, for example, can benefit from distributed ledgers as well. South Korean startups are pushing hard to bring healthcare and blockchain together in the years to come.

South Korea Promotes Blockchain

Most people know South Korea plays a big role in the cryptocurrency world. It’s local exchanges generate a lot of volume for Bitcoin and altcoins every single day. A little unknown fact is how various startups in the country are looking to embrace blockchain technology as well. Not necessarily in the financial sector, but rather in the medical industry. A lot of different blockchain-based services are in development as of right now.

In terms of recordkeeping, a distributed ledger makes a lot of sense. It provides an immutable record of information which is not subject to a central point of failure. This is why XBLOCK SYSTEMS is working on a medical proof application service. This solution will issue these medical documents through public key infrastructure on a distributed ledger. The firm is confident they can make this entire business model more streamlined and efficient by embracing this method.

Other companies are exploring different avenues in the medical sector. Ranging from reward programs to follow-up management solutions and open platforms for medical information, they are all being looked at by South Korean startups. Competition in this space will ultimately benefit the consumer and healthcare professionals alike. More importantly, it appears a wide range of services is being created at this time.

The Medical Sector Needs an Upgrade

Over the past few years it has become evident the medical sector needs a technology upgrade. With record keeping still being done on paper, for the most part, this industry hasn’t entered the 21st century in full. Additionally, there are multiple central points of failure to contend with. These issues allow for data breaches, successful malware attacks, and so forth. Blockchain technology can solve a lot of those problems if companies develop the right solutions. A South Korean spokesperson explains:

“The medical and healthcare sectors have had the structure in which the public have no access to information. However, the blockchain technology now allows the public to review information more easily and safely. The new era where individuals can ultimately manage medical information instead of hospitals or medical organizations is expected to begin.”

With South Korea setting this precedent, other countries may follow its example. Blockchain is an innovative form of technology which opens up a lot of new opportunities. At the same time, the technology needs to be scalable, transparent, and still offer privacy up to a certain extent. Getting that balance just right for the medical sector will be challenging. Even so, the South Korean startups are confident they can bring a lot of value to this industry moving forward.

Image from Shutterstock

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The digital advertising market is growing rapidly, but the problem of quickly increasing brand awareness still persists and is a real pain for companies running ICO or token sales. Today we want to announce a new platform for an easy global advertisement for the crypto-audience from one of the most successful Dutch Blockchain startups.

According to a forecast by Statista, the online advertising market will grow at double-digit pace until at least 2022. Analysts expect it will reach $281 bln in 2018 and reach $400 bln by 2022. Such large numbers are calling for new ways of interacting in terms of digital ad placement, buying, and selling. Many companies are offering their own solutions to pay for digital ads with some using Blockchain, but the AdCoin project is distinguished by its new crypto-oriented platform AdCoinClick, developed specifically for crypto projects.

Recently local media in The Netherlands described AdCoin as a new and effective cryptocurrency to pay for digital ads. Today, however, AdCoin is launching a new tool for the global advertisement of Blockchain-based projects. The AdCoinClick platform offers launching or publishing ads in just a few clicks using the AdCoin Blockchain to enable low transaction fees and no minimum budgets for campaigns.

The team managed to launch their own secure cryptocurrency, aimed only for online advertising. This allows them to maintain a stable exchange rate.

Publishers will receive AdCoin for their banners and traffic, and convert them to other currency or use it to promote their own projects. AdCoinClick already has partnerships with top-tier publishers and networks, so you just need to have some AdCoin to start promoting your brand.

Good for everyone

The team has already developed several integrations for platforms like WooCommerce and Dupral. Now they are going to finish the standalone WordPress ad plugin that will allow individual publishers to maximize traffic revenue. Currently, every third-party, project or company can develop tools using the AdCoin API and PayPal-like payment gateway.

A new platform solves several digital advertisement issues at once. First, it allows you to skip different banking operations and wire transfers. Second, there is only a tiny fee to pay for your advertisement globally. Third, it is targeted to crypto-oriented people who are looking for new great projects or ICO’s to invest in. AdCoinClick helps attract attention to the project during its ICO to find new investors, customers, and miners for emerging projects from any country, paying for advertisements from a single crypto-wallet.

In a world of rapid ICO’s and ever-changing rules, the ability to promote yourself effectively with minimal effort is very important. The new AdCoinClick platform could become a useful asset for numerous Blockchain startups around the world.

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Digital Identity Verification is a prevailing issue in this digital world of ours. Identity theft is not just a myth anymore and is a potent cyber security threat that can steal data, resources, digital and fiat currencies and even Intellectual property itself. Blockchain technology is seen as a robust option in the fight against identity theft and that is why companies are looking towards the new tech to solve their problems.

Maritime Bank, one of the largest banks in Vietnam, has announced that it has reached a partnership with VeriME platform to provide D-KYC and D-SECURE services to the bank. Maritime Bank is one of the largest banks in the country and this move comes after VeriME launched its Token Generation Event for the public.

Maritime Bank the Third Bank in Vietnam to to Partner with VeriME

The VeriME platform’s popularity in Vietnam is shown by the fact that Maritime is the third bank from the country to sign a partnership with the startup. VeriME is offering a Verification as a Service (VaaS) platform approach for these banking channels.

According to the Deputy General Director of Maritime Bank:
“We are excited to partner with VeriME and leverage their blockchain based VaaS platform for performing KYC and Payment Authentication for our customers. We believe in their product, and most importantly their compliance with Data Sovereignty and local PDPA laws. We are looking forward to VeriME revolutionizing the traditional customer onboarding and payment authentication processes.”

KYC Implementation

KYC, or “Know-Your-Customer” regulations, have become emblematic in the quest for preserving digital identity. An estimated $60 million is spent annually on KYC and compliance by a single large financial firm around the world according to survey by Thomson Reuters.

According to Sanjeev Kumar, co-founder of VeriME:

“The rising KYC challenges and its costs, which companies as well as customers were facing made us think of a better solution. A solution which will not only automate the whole process but will also make the complete KYC and due diligence process faster, seamless and efficient, and that’s when the idea of VeriME was conceptualised.”

VeriME Mission

From its headquarters in Singapore, VeriME is hoping to develop an easy and swift user authentication for banks, financial institutions, marketplaces and other large merchant groups around the world. It has already partnered with over 30 entities globally and has more than 300,000 merchants and consumers. Its mission is to digitize the KYC and authentication processes with the power of blockchain and its transparency.

To learn more visit the Website : https://www.verime.mobi/home

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National Basketball Association (NBA) superstar Stephen Curry of the Golden State Warriors, considered the best shooter in history by many players and analysts, has become the first celebrity to team up with popular Ethereum-based game CryptoKitties.

Three different CryptoKitties based on Stephen Curry have been developed, dubbed CurryKitties. In honor of the release, 10 highly-coveted CryptoKitties are being given away to lucky winners, in addition to a curry recipe for anyone who signs up.

The three CurryKitties are available for purchase starting at a price of ETH 100 – equivalent to $73,000 at the time of this writing – and until purchased, the price will keep declining until it reaches ETH 5, which is still a hefty thousands of dollars. It remains to be seen whether anyone will actually purchase the CurryKitties, since normal CryptoKitties can cost less than USD 5 on the marketplace.

CryptoKitties is marketed as one of the first blockchain-based collectibles and games. It uses the Ethereum blockchain, and is currently the second most popular and valuable cryptocurrency in the world by market capitalization. Its blockchain is one of the most secure due to an immense amount of mining power. Each CryptoKitty is stored in the blockchain and is virtually impossible to steal since it’s cryptographically secure.

CryptoKitties are digital property whose ownership can be verified with the blockchain, and there is a marketplace where users can buy and sell the CryptoKitties. To play CryptoKitties, first users must purchase a cat in the marketplace with Ether; it is recommended that they buy two cats so they can breed and generate more CryptoKitties. Theoretically, it is possible to make money playing CryptoKitties if users breed cats and then sell them on the marketplace. Some CryptoKitties are far more valuable and coveted than others, and are called fancy cats; they can be generated with the right breeding combinations.

The CurryKitties are possibly the first sports memorabilia stored on a blockchain, making this a milestone for blockchain technology and partnerships. As use of blockchain technology expands globally, more digital property of all varieties will be stored on blockchains.

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California-based software giant Oracle will publicly launch its blockchain-as-a-service platform as soon as this month, according to a report.