With the announcement of Libra, cryptocurrency has entered the bigleagues.Facebooks entry into the cryptocurrency market means every single company now has to take cryptocurrency seriously. Companies around the world are now considering their cryptocurrency strategy.This is not a repeat of the corporate circle-jerks of 2015 and 2017. Then companies played with the idea of having a blockchain strategy. Blockchain was the buzzword du jour and companies indulged their innovation departments in building toys that never saw the light of day as actual products.This time could not be more different. Facebook has hammered the final nail in the coffin of blockchain not Bitcoin.Facebook has taken blockchain seriously. They understand that the technology isnt cool. Whats cool are the unprecedented products that technology can be used to create: digital cash, new currencies and programmatic money.Every business ever has sought to make money. Now, one of the biggest businesses in the world, has decided to dispense with the middle steps and go straight to the making moneypart.Why, the crypto-pundits have been asking, do they need a blockchain for this? Libra, after all, will be permissioned. They could have just used a database.The answer issimple.Even Facebook could not create this product without the (albeit limited) decentralization that blockchain affords. Facebook needs blockchain for this for the same reason any cryptocurrency needs blockchain. The only central actors that are allowed to issue money are regulated financial institutions. They need to be regulated anywhere that money is issued andused.That is hundreds of different jurisdictions with thousands of different regulations. Blockchains are protocols that create money and transact money in the form of cryptographic proofs. They are unregulated for the same reason peer-to-peer encryption is unregulated:They are too abstract.The combination of decentralized governance and value that results from solving mathematical problems means that regulators even define laws that would be limited enough in scope to make sense and broad enough to be effective.They have tried to regulate cryptography and encryption many times and always failed. Up until now that was a curious fact that polite society had agreed to mostly ignore, sometimes with a derisive chuckle. From now on, it is a fact of business that serious-minded executives need tomaster.Master it they will, and Facebook has laid out the playbook:Decentralize as much as is necessary but nomoreProvide a token of stable value so that it can be used reliably incommerceLeverage your existing ecosystem to gainusersDo these things and you a whole world of profiting from seigniorage opens before you. Build loyalty that goes beyond just brand and product to the very means of paying for those products.Collect data previously unheard of, and attribute purchasing behaviour to marketing in ways never before possible. Tax every transaction or the interest earned on funds held as reserves. And if you play your cards right, maybe even create money out of thinair.The big leagues attract the big players. Banks, technology companies, giant retailers, telcos, now have no choice but to enter this game. The world will not sit idly by and let Facebook own this new, phenomenal market opportunity. A thousand stablecoins arecoming.Starbucks will let you buy your venti with Star Bucks. Verizon and AT&T will issue money as mobile and smart as the device already in your pocket. Juul will give you discounts if you pay in Jems. The city of Venice will make tourists pay for the burden they have become in, what else,Ducats.Sure, many of these products will have the same fate as Pets.com. Most products fail. So what? Money is a product now, and if there is one thing every business wants to do, its efLibra is only Round One. Heres what comes next. was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

Facebooks Cryptocurrency Is a Nail in the Coffin for Blockchain Not Bitcoin...ShareEdan Yago is the founder of CementDAO, an effort to bring together stablecoins into a unified ecosystem. The views expressed here are his own.With the announcement of Libra, cryptocurrency has .Facebooks entry into this market means every single company now has to take cryptocurrency seriously. Companies around the world are now considering their cryptocurrency strategy.This is not a repeat of the corporate circle-jerks of 2015 and 2017. Then, companies played with the idea of having a blockchain strategy. Blockchain was a buzzword and companies indulged their innovation departments in building toys that never saw the light of day as actual products. This time could not be more different. Facebook has hammered the final nail in the coffin of .Facebook has taken blockchain seriously. They understand that the technology isnt cool. Whats cool are the unprecedented products that technology can be used to create: digital cash, new currencies and programmatic money. Every business ever has sought to make money.Now, one of the biggest businesses in the world, has decided to dispense with the middle steps and go straight to the making money part.Why, the crypto pundits have been asking, Do they need a blockchain for this? Libra, after all,. They could have just used a database.The answer is simple. Even Facebook could not create this product without the (albeit limited) decentralization that blockchain affords. Facebook needs blockchain for this for the same reason any cryptocurrency needs blockchain. The only central actors that are allowed to issue money are regulated financial institutions. They need to be regulated anywhere that money is issued and used. That is hundreds of different jurisdictions with thousands of different regulations.Blockchains are protocols that create money and transact money in the form of cryptographic proofs. They are unregulated for the same reason peer-to-peer encryption is unregulated: They are too abstract. The combination of decentralized governance and value that results from solving mathematical problems means that regulators even define laws that would be limited enough in scope to make sense and broad enough to be effective.They have tried to regulate cryptography and encryption many times and always failed.Up until now that was a curious fact that polite society had agreed to mostly ignore, sometimes with a derisive chuckle. From now on, it is a fact of business that serious-minded executives need to master.Master it they will, and Facebook has laid out the playbook:Decentralize as much as is necessary, but no moreProvide a token of stable value so that it can be used reliably in commerceLeverage your existing ecosystem to gain users.Do these things and you a whole world of profiting from seigniorage opens before you. Build loyalty that goes beyond just brand and product to the very means of paying for those products. Collect data previously unheard of, and attribute purchasing behavior to marketing in ways never before possible. Tax every transaction or the interest earned on funds held as reserves. And if you play your cards right, maybe even create money out of thin air.The big leagues attract the big players. Banks, technology companies, giant retailers, telcos, now have no choice but to enter this game.The world will not sit idly by and let Facebook own this new, phenomenal market opportunity. A thousand stablecoins are coming. Starbucks will let you buy your venti with Starbucks. Verizon and AT&T will issue money as mobile and smart as the device already in your pocket.Juul will give you discounts if you pay in Jems. The city of Venice will make tourists pay for the burden they have become in, what else, Ducats.Sure, many of these products will have the same fate as Pets.com. Most products fail. So what? Money is a product now, and if there is one thing every business wants to do, its make money. via ShutterstockLets block ads!(Why?)Source link Free Download WordPress ThemesFree Download WordPress ThemesPremium WordPress Themes DownloadDownload Best WordPress Themes Free Downloadfree download udemy paid course

Edan Yago is the founder of CementDAO, an effort to bring together stablecoins into a unified ecosystem. The views expressed here are his own.With the announcement of Libra, cryptocurrency has entered the big leagues.Facebooks entry into this market means every single company now has to take cryptocurrency seriously. Companies around the world are now considering their cryptocurrency strategy.Related:Halt Libra? US Lawmakers Call for Hearings on Facebooks CryptoThis is not a repeat of the corporate circle-jerks of 2015 and 2017. Then, companies played with the idea of having a blockchain strategy. Blockchain was a buzzword and companies indulged their innovation departments in building toys that never saw the light of day as actual products. This time could not be more different. Facebook has hammered the final nail in the coffin of blockchain not bitcoin.Facebook has taken blockchain seriously. They understand that the technology isnt cool. Whats cool are the unprecedented products that technology can be used to create: digital cash, new currencies and programmatic money. Every business ever has sought to make money.Now, one of the biggest businesses in the world, has decided to dispense with the middle steps and go straight to the making money part.Why, the crypto pundits have been asking, Do they need a blockchain for this? Libra, after all, will be permissioned. They could have just used a database.Related:Facebook Has Yet to Answer US Lawmakers Questions About Libra CryptoThe answer is simple. Even Facebook could not create this product without the (albeit limited) decentralization that blockchain affords. Facebook needs blockchain for this for the same reason any cryptocurrency needs blockchain. The only central actors that are allowed to issue money are regulated financial institutions. They need to be regulated anywhere that money is issued and used. That is hundreds of different jurisdictions with thousands of different regulations.Blockchains are protocols that create money and transact money in the form of cryptographic proofs. They are unregulated for the same reason peer-to-peer encryption is unregulated: They are too abstract. The combination of decentralized governance and value that results from solving mathematical problems means that regulators even define laws that would be limited enough in scope to make sense and broad enough to be effective.They have tried to regulate cryptography and encryption many times and always failed.Up until now that was a curious fact that polite society had agreed to mostly ignore, sometimes with a derisive chuckle. From now on, it is a fact of business that serious-minded executives need to master.Master it they will, and Facebook has laid out the playbook:Decentralize as much as is necessary, but no moreProvide a token of stable value so that it can be used reliably in commerceLeverage your existing ecosystem to gain users.Do these things and you a whole world of profiting from seigniorage opens before you. Build loyalty that goes beyond just brand and product to the very means of paying for those products. Collect data previously unheard of, and attribute purchasing behavior to marketing in ways never before possible. Tax every transaction or the interest earned on funds held as reserves. And if you play your cards right, maybe even create money out of thin air.The big leagues attract the big players. Banks, technology companies, giant retailers, telcos, now have no choice but to enter this game.The world will not sit idly by and let Facebook own this new, phenomenal market opportunity. A thousand stablecoins are coming. Starbucks will let you buy your venti with Starbucks. Verizon and AT&T will issue money as mobile and smart as the device already in your pocket.Juul will give you discounts if you pay in Jems. The city of Venice will make tourists pay for the burden they have become in, what else, Ducats.Sure, many of these products will have the same fate as Pets.com. Most products fail. So what? Money is a product now, and if there is one thing every business wants to do, its make money.Bell via ShutterstockRelated StoriesFacebooks New Crypto Faces Scrutiny From European AuthoritiesFacebooks Cryptocurrency Wants to Take on Banks, Not Bitcoin

The University of Cumbria has become the world's first public educational institution to accept bitcoin as payment for tuition fees. The currency is being accepted as payment for two new courses linked to the study of crypto-currencies and complementary currencies, in a move similar to that of the private University of Cyprus, which began accepting bitcoins and started teaching about the currency last year. Jem Bendell, director of the University of Cumbria's Institute for Leadership and Sustainability, said: "We are accepting bitcoin as a way of experimenting [with] how it works for a major organisation with many departments." The university claims to be the world's first public educational institution to accept bitcoin payments, adding it is "delighted" to be able to offer the service. In November 2013, the University of Nicosia in Cyprus, a private institution, began accepting bitcoin as payment for tuition fees, as well as offering a Master's degree focusing on digital currencies like bitcoin and litecoin. The two new courses offered by the university are a certificate in sustainable exchange, and a postgraduate certificate in sustainable leadership; the former being taught at its London campus from July, while the latter will be taught at its Lake District campus from June. No stranger to crypto-currencies, last May the university was one of seven partners which helped organise a United Nations symposium (PDF) on alternative finance, and also has a research programme on the topic which includes PhD students. The certificate in sustainable exchange, which costs £1,111 (around two bitcoins), is aimed at helping students understand "why and how to create, scale and evaluate digitally-enabled systems of sustainable exchange, [including] systems for giving, sharing, renting, exchanging, and funding, with or without official money." The university's postgraduate certificate in sustainable leadership is a year-long course asking students to challenge "orthodoxies in corporate social responsibility and environmental management" and costs £3,333, or around 5.7 bitcoins. In a press release, the university warned against students buying bitcoins to pay for the course - due to its extreme volatility - and suggested that successful applicants should only consider paying with the virtual currency if they already own it, or have received it via donations. To reduce its own exposure to price volatility, the university said it will exchange bitcoin payments for sterling via BitPay at the time of payment.

Buying a brand-new car is constantly a excitement. Purchasing a high-end car, a roadster or a timeless much more so. But such a pleasurable acquisition is normally accompanied by time consuming rules. When all you desire is to sit behind the wheel as quickly as possible, these extra actions can be a problem for many people. Finding a dream car you can buy with cryptocurrency will definitely conserve you a long time and effort, particularly when cross-border payments are included. You can now do that with BCH on Autocoincars.com, a platform that deals with leading supercar dealerships. Purchasing a Supercar With BCH Is Easy Browsing through car advertisements can be a satisfaction and a curse. It takes some time to discover the best design and make that matches your taste and requirements. Multiple sites nowadays offer car purchasers with a myriad of deals. However, if you are not just a petrolhead however also a crypto lover, there arent a lot of platforms with a great option of lorries you can acquire with digital coins.Autocoincars.com is a site where consumers can discover a abundant option of high-end designs, from comfy and useful SUVs, to elegant cars and even collectible classics with comprehensive service history. And the very best part is that all of them can be purchased with bitcoin cash (BCH). The business interacts with Bitscoins.net to broaden making use of peer-to-peer electronic cash.The valuable vehicles are offered by recognized U.K. dealerships and can be provided to purchasers in other nations also. One of the platforms primary partners, Redlinespecialistcars.co.uk, is the biggest independent supercar dealership in Britain. They comply to promote crypto and have actually currently made many sales to customers deciding to pay with digital properties. David White, Auto Coin Cars chief running officer, informed news.Bitscoins.web:We negotiated a Lamborghini from the U.K. to Germany last month, a $300k car. One more youthful crypto user purchased his mom a $70,000 Range Rover for her birthday surprise all in crypto. And recently we had a query from Sydney, Australia for a 2 million Aston Martin. Exciting times.The portal bets on bitcoin cash, using customers the chance to purchase Ferraris, Lamborghinis, Aston Martins, and a lot more quality brand names with BCH. All of its advertisements have the asking cost showed in a variety of fiat currencies such as U.S. dollar, British pound, euro, and UAE dirham. But Autocoincars.com particularly targets cryptocurrency users who wish to buy a car with bitcoin and their pricelist begins with a estimate in bitcoin cash. Customers can also pay with the platforms own token, autocoin.Crypto users who wish to buy vehicles do not browse Autotrader, Pistonheads, Motors, or any other standard website, the site describes. Why would they? They would have a hard time to discover a car dealership that accepts bitcoin on there. Instead, they browse Google for buy car with bitcoin or among the numerous numerous search terms for which Autocoincars.com is ranked number 1 and page 1. They choose a car, call the dealership and concur [to] a handle the normal method. They then spend for the car with bitcoin or other crypto through our controlled exchange and we pay the dealership prior to the car being provided.Auto Coin Cars group even more keeps in mind that there are over 3 million cryptocurrency wallets in the U.K. alone, which shows the development capacity for this market in the future. A research study performed this year by Technavio jobs that the international high-end car market will grow at a substance yearly development rate (CAGR) of more than 12%, or roughly 8,000 systems within 5 years.Accepting crypto payments opens a entire brand-new location of company that was up until just recently not available to car dealerships. Millions of individuals all over the world now own cryptocurrency and numerous would easily utilize their coins to acquire a brand-new car thanks to the speed and security crypto deals give the table.At the very same time, car dealerships can now quickly accept cryptocurrency and transform it right away into fiat cash if they wish to do that, securely and safely. They can utilize the sites Sell Now area to sign up with the platform, offering more info about themselves and submitting their advertisements to reach countless crypto users worldwide.North London-based Auto Coin Cars uses knowledgeable crypto specialists and vehicle experts who have actually supplied a easy response to a supply and need problem. Car purchasers wish to invest their crypto, while car dealerships are not set as much as accept it yet. Many of them understand the advantages of cryptocurrency payments once they attempt them.Bitcoin cash, for example, provides instant and protected deals at a really low expense, typically less than a U.S. cent per transfer. And the funds are offered practically as quickly as the payment is made without any chargebacks or card scams. Auto Coin Cars customers are generally high net worth people who can also make the most of the personal privacy that features crypto payments and count on an instantaneous crypto-fiat exchange getting rid of cost changes.Some of Auto Coin Cars sports and efficiency lorries are provided just to crypto users in closed auctions. These vehicles are the greatest quality designs provided by the U.K.s leading car experts. According to the platform, all of them are thoroughly picked, featured complete history and remain in spotless condition validated by independent reports. The initially such auction will be kept in late 2019. Potential purchasers can sign up now and get information about monthlys offerings, in addition to the conditions of involvement.Auto Sales With Crypto Payments Are a Promising Market The specific niche Auto Coin Cars runs within is most likely to grow in the future. So is the appeal of crypto payments in basic, particularly now when numerous anticipate to see a brand-new crisis in the standard monetary system as early as next year. At this time, the platform doesnt have a lot of rivals. Another site selling supercars and classics for cryptocurrency is Bitcars.eu. Most of the noted lorries remain in Europe, however the platform can provide them to a particular place, organizing transport and custom-mades clearance. Bitcars accepts bitcoin cash (BCH) and bitcoin core (BTC) through the payment processor Bitpay along with XMR, ETH, LTC, DOGE and DCR through Globee.Buysellcarwithbitcoin.com is a platform enabling users to release advertisements for lorries on sale or choice a noted car that can be purchased with bitcoin. The site links purchasers and sellers who wish to settle their handle cryptocurrency. Just like Auto Coin Cars, Buysellcarwithbitcoin enables you to choose a place near you, pick a brand name, set a minimum and optimum cost, and search by keywords. The website also releases advertisements for car devices such as car audio systems, view video cameras, rims, and a lot more. Dealers selling high-end lorries for crypto also consist of Post Oak Motor Cars, a Bentley, Bugatti and Rolls-Royce dealership in Houston, and Hollywood-based Jem Motor Corp.If you buy a used car whose interior requirements revitalizing and detailing, you can constantly utilize the services of Cockpitdekor.com where you can buy trim parts for you control panel, center console and doors. The finest thing is that you can buy them with bitcoin cash. Cockpitdekor promotes the advantages of paying with cryptocurrency. The business is based in the U.K. and Slovakia, however its personalization sets are offered worldwide. And in Venezuela, a nation where cryptocurrencies have actually been making headway on the background of an unsteady and extremely inflated nationwide fiat, car insurance coverage strategies can now be bought with bitcoin cash, as news.Bitscoins.web just recently reported.Payments utilizing decentralized digital currencies are most likely to spread out even more in this and other markets. If you wish to acquire bitcoin cash and other significant cryptocurrencies you can do that at buy.Bitscoins.web. To easily trade your crypto properties, visit our noncustodial, peer-to-peer market regional.Bitscoins.web, which currently has countless users from all over the world. Also, take a look at our recently introduced leading trading platform exchange.Bitscoins.web. Registered users can access it today and over 10,000 have actually currently registered.Would you buy your next car utilizing cryptocurrency? Tell us what you think of crypto payments in the car sales market in the comments area below.Do you require a trustworthy bitcoin mobile wallet to send out, get, and save your coins? Download one free of charge from us and after that head to our Purchase Bitcoin page where you can rapidly buy bitcoin with a charge card.

CANDY token. What is it? Where did it come from?mediumjack (25) in candy 3 months agoA couple of days ago, after installing the SELFKEY ICO wallet and receiving their airdrop, I noticed that my MEW had an additional token listed, which I did not actually purchase myself. I was confused, to say the least, mainly because I am still relatively new to the use of various online crypto related utilities and I am learning as I go along, but also because I had no idea where this token had come from and whether it was meant for good or bad. It could have been a nasty hack for all I knew. I poked around for a bit and found nothing until today when I poked around some more and found a website. So what is the CANDY token. The official website states: " Candy.One is a global cryptocurrency community where various projects lock their tokens to one holding address and distribute CANDY tokens to potential holders. CANDY represents a sum of candy tokens. It's co-issued by different projects by locking their own tokens to one holding address." This means that projects like Ethereum, Qube, Motion and roughly 17 more, can lock in a number of their own tokens into the Candy.one holding address, and randomly distribute CANDY tokens to holders of the projects own tokens. So for example, if you happen to be holding some Ether or MEX tokens in your MEW wallet, you may receive an airdrop of CANDY tokens as a reward. The distribution of CANDY tokens can be looked up here: 8 It seemed quite random at first as I had 17000, and some other reports I read and heard of stated numbers from 40000 to 150,000. My guess is that the number of distributed CANDY will vary based on the amount of the various crypto tokens held by each individual wallet. So for example, people with a lot of Ether in their MEW may receive a larger number of CANDY tokens, while those with a smaller number of Ether will receive less. Of course, that is to say only if the distribution is amongst all Ether, or QUBE holders, which is what the CANDY website says as well: "The total supply of CANDY is one trillion. Candy Box will distribute tokens to project holders by making future airdrop, gifts and other means. Currently locked include PRS, BIG, XIN, MTN and nearly 20 kinds of tokens, worth almost 100 million USD." Not quite a hundred million just yet, but pretty close. Find it here: https://candy.one/i/3712970 The total supply of CANDY is a stageringly exact one trillion tokens, which during the time of writing this article, increased in value from 69,780,768.55 USD to 71,219,837.89 USD, or from 0.0000697808 to 0.0000712198 per CANDY token. If my calculations are correct, that would place my 17,000 CANDY tokens at a price of 1.2107366 USD, which may be insignificant to many adults, but ammounts to an entire ice cream for children. Although I like ice cream too. The point to take away from this is the following. With the growing number of projects joining the CANDY list, and locking in a portion of their own tokens onto the CANDY project, the CANDY tokens increase in value. Presently 26 projects are listed on the CANDY site, with the most recent one being FAIR(FairGame) which locked 12 million tokens in the CANDY box. The first listed token lock is to Geek Chain which occured on the 25th of January this year. Seeing that this platfrom is less than a month old, I think it may be a safe bet that a lot more projects may still be joining the CANDY box in the near futre thus propelling the value of the CANDY token upwards into the presently vast space within which it can still grow and anyone willing to hold on to this novelty may be in for a real surprise in the long run. You can get some CANDY yourself by following this link: https://candy.one/i/3712970 Create your own account on the CANDY websie to participate in CANDY giveaways, and to keep track of the growing number of involved projects. The indicator at the top of the CANDY site lists amounts in Japanese Yen, as if Satoshi Nakamoto come back to say that he, or they, were not yet done with the creation and redistribution of wealth. It makes sense for projects to become involved in this anomaly early on while the value of the CANDY token is still relatively low. I can see this little jem being used to incentivise cryptocurrency holders to avoid exchanging their tokens into fiat, since like I stated earlier, I have a feeling that the amount of CANDY received may depend on the amount of tokens held up in your crypto wallet. Happy CANDY hunting!!!!! https://candy.one/i/3712970 candy token crypto currency ico 3 months ago by mediumjack (25)$0.001 vote+ mediumjackReply 0

Bitcoin is the new black. Even playboy socialite Dan Bilzerian is boasting on Instagram about his new bitcoin stash. Other than sex, drugs and cryptocurrency trading, bitcoin is also routinely used for online shopping and paying tuition at tech-savvy private schools. Motherboard reported 10 wealthy families in New York are now using bitcoin to pay their $30,000 tuition fees at posh Manhattan preschools. But Bitcoin tuition payments arent just for the ultra-rich. Aroundhalf a dozen universities around the world now accept bitcoin for tuition payments and textbooks, including Kings College in New York. This is especially helpful for international students. Read : Cryptocurrency Shopping Guide: How To Shop With Bitcoin The driving force behind our decision [to accept bitcoin] was the necessity, the problems experienced by students from far away countries, Georg Garlichs, CFO at the European School of Management and Technology in Berlin, told International Business Times. Its simply hard to send money from there over here for various reasons, be it high fees, technical problems or simply capital control, when they [governments] dont want them [students] to send capital out of the country. Although only one ESMT student has paid his university tuition with bitcoin so far, Garlichs expects the number to increase because in many programs the overwhelming majority of students come from abroad. In 2016, the university hosted the Blockchain Innovation Awards and sifted through 400 applications. It's raining bitcoin. Photo: George Frey/Getty Garlichs said he has also noticed a growing curiosity about bitcoin from both students and educators. The schools two-day blockchain and bitcoin course for professionals is so popular that ESMT will soon offer it twice a year instead of just annually. We were surprised by the degree of interest, its completely full, Garlichs said. Around 60 students have already completed this course. Many universities that accept bitcoin only do so for students enrolled in programs related to technology, business or economics. For example, the British University of Cumbria lets students pay for two certificate programs and specific PhD fees with bitcoin. Read : Blockchain Jobs More Popular Than Ever On LinkedIn According to Jem Bendell, founder of Cumbrias Institute for Leadership and Sustainability, two students have paid their tuition with bitcoin since the option became available in 2014. It is a fast moving field. So they [cryptocurrencies] could become more widely used for payments, but we aren't seeing that yet, Bendell told IBT in an email. University of Nicosia in Cyprus, which the world's first digital currency graduate degree. Photo: University of Nicosia Meanwhile, the University of Nicosia in Cyprus has by far become the world leader in cryptocurrency options for students. All of the Mediterranean university's programs accept bitcoin. According toIrene Patrikios, who helps coordinate the UNIC Blockchain Initiative, half of the students enrolled in the digital currency masters program now pay their tuition in bitcoin, plus up to two percent of the general student body, which is around 11,500 people. That means roughly 282 student paid their tuition with bitcoin this year alone. Patrikios said shes seen a steady increase in the amount of students using bitcoin each semester since 2014. Transactions are much faster and cheaper as well, she said. Its one of our preferred choices. Next the university plans to install a bitcoin ATM on campus and launch several new blockchain programs, including a certificate program and eventually blockchain academic credentials. University of Nicosia campus at sunset. Photo: University of Nicosia Even universities that dont yet accept cryptocurrency are introducing courses about blockchain and bitcoin, from the University of Edinburgh to University of California, Berkeley. Umberto Tarantino, co-founder of Blockchain Education Network Italia, told IBT their organization has 300 members that represent students and faculty at 30 Italian universities. BEN Italia have held conferences and workshops from the University of Trento in the north to the University of Rome, Tor Vergata, and the University of Salerno in Southern Italy. BEN Italia has received ever more requests for membership from students, researchers and also professors, Tarantino said. Not to mention around 150 bitcoin clubs at universities across the U.S., connected to the American BEN counterpart. A BEN Italia seminar about bitcoin and blockchain at the University of Salerno. Photo: BEN Italia Critics might observe volatility in the nascent cryptocurrency market and question what kind of jobs a graduate could hope to get after studying blockchain technology. And the answer is: A really cool job in any field from tech to luxury fashion, humanitarian advocacy and politics. Companies like IBM and Visa are clamoring for employees with blockchain skills, while the Chinese and Russian governments hire cryptocurrency experts to help create their own tech-savvy national currencies and economic policies. Even the United Nations hired a blockchain consultant for UN Women. Patrikios is confident more students around the world will start to not only study cryptocurrency, but pay their tuition with it as well. This is definitely going to increase, [because of] the easiness of payment, and how much more efficient it is as a payment method, she said. That is something we truly believe. It is the future.

Bitcoin is the new black. Even playboy socialite Dan Bilzerian is boasting on Instagram about his new bitcoin stash. Other than sex, drugs and cryptocurrency trading, bitcoin is also routinely used for online shopping and paying tuition at tech-savvy private schools. Motherboard reported 10 wealthy families in New York are now using bitcoin to pay their $30,000 tuition fees at posh Manhattan preschools. But Bitcoin tuition payments arent just for the ultra-rich. Aroundhalf a dozen universities around the world now accept bitcoin for tuition payments and textbooks, including Kings College in New York. This is especially helpful for international students. Read : Cryptocurrency Shopping Guide: How To Shop With Bitcoin The driving force behind our decision [to accept bitcoin] was the necessity, the problems experienced by students from far away countries, Georg Garlichs, CFO at the European School of Management and Technology in Berlin, told International Business Times. Its simply hard to send money from there over here for various reasons, be it high fees, technical problems or simply capital control, when they [governments] dont want them [students] to send capital out of the country. Although only one ESMT student has paid his university tuition with bitcoin so far, Garlichs expects the number to increase because in many programs the overwhelming majority of students come from abroad. In 2016, the university hosted the Blockchain Innovation Awards and sifted through 400 applications. It's raining bitcoin. Photo: George Frey/Getty Garlichs said he has also noticed a growing curiosity about bitcoin from both students and educators. The schools two-day blockchain and bitcoin course for professionals is so popular that ESMT will soon offer it twice a year instead of just annually. We were surprised by the degree of interest, its completely full, Garlichs said. Around 60 students have already completed this course. Many universities that accept bitcoin only do so for students enrolled in programs related to technology, business or economics. For example, the British University of Cumbria lets students pay for two certificate programs and specific PhD fees with bitcoin. Read : Blockchain Jobs More Popular Than Ever On LinkedIn According to Jem Bendell, founder of Cumbrias Institute for Leadership and Sustainability, two students have paid their tuition with bitcoin since the option became available in 2014. It is a fast moving field. So they [cryptocurrencies] could become more widely used for payments, but we aren't seeing that yet, Bendell told IBT in an email. University of Nicosia in Cyprus, which the world's first digital currency graduate degree. Photo: University of Nicosia Meanwhile, the University of Nicosia in Cyprus has by far become the world leader in cryptocurrency options for students. All of the Mediterranean university's programs accept bitcoin. According toIrene Patrikios, who helps coordinate the UNIC Blockchain Initiative, half of the students enrolled in the digital currency masters program now pay their tuition in bitcoin, plus up to two percent of the general student body, which is around 11,500 people. That means roughly 282 student paid their tuition with bitcoin this year alone. Patrikios said shes seen a steady increase in the amount of students using bitcoin each semester since 2014. Transactions are much faster and cheaper as well, she said. Its one of our preferred choices. Next the university plans to install a bitcoin ATM on campus and launch several new blockchain programs, including a certificate program and eventually blockchain academic credentials. University of Nicosia campus at sunset. Photo: University of Nicosia Even universities that dont yet accept cryptocurrency are introducing courses about blockchain and bitcoin, from the University of Edinburgh to University of California, Berkeley. Umberto Tarantino, co-founder of Blockchain Education Network Italia, told IBT their organization has 300 members that represent students and faculty at 30 Italian universities. BEN Italia have held conferences and workshops from the University of Trento in the north to the University of Rome, Tor Vergata, and the University of Salerno in Southern Italy. BEN Italia has received ever more requests for membership from students, researchers and also professors, Tarantino said. Not to mention around 150 bitcoin clubs at universities across the U.S., connected to the American BEN counterpart. A BEN Italia seminar about bitcoin and blockchain at the University of Salerno. Photo: BEN Italia Critics might observe volatility in the nascent cryptocurrency market and question what kind of jobs a graduate could hope to get after studying blockchain technology. And the answer is: A really cool job in any field from tech to luxury fashion, humanitarian advocacy and politics. Companies like IBM and Visa are clamoring for employees with blockchain skills, while the Chinese and Russian governments hire cryptocurrency experts to help create their own tech-savvy national currencies and economic policies. Even the United Nations hired a blockchain consultant for UN Women. Patrikios is confident more students around the world will start to not only study cryptocurrency, but pay their tuition with it as well. This is definitely going to increase, [because of] the easiness of payment, and how much more efficient it is as a payment method, she said. That is something we truly believe. It is the future.

Leah Callon-Butler is the co-founder of Intimate.io, a token project aiming to bring payments, privacy and reputation to the adult industry.The following is an exclusive contribution to CoinDesk’s 2018 Year in Review. “The stars have aligned,” he said, the room hanging on his every word.“In the same way that the industrial revolution created the economic prosperity that’s made the U.S. what it is today; in the same way that Africa leapfrogged wired telecommunications and went straight to wireless; the Philippines has the potential to be the biggest beneficiary of this technology now. Manila could be the next New York. The next London. The next Hong Kong. The next Tokyo.”The audience at Manila Private House was silent, wholly captivated by Brock Pierce’s speech as he told the story of a nation primed for a technological revolution. The Philippines is a collection of over 7,000 islands, where only 31 percent of its 100 million people are banked, and just 4 percent of transactions happen online, but nearly 60 percent of people own a smartphone.Add to this the identity issue, with thousands undocumented and disenfranchised due to poor access to government services, and you can start to see how the Philippines is attracting the attention of some of the world’s most forward-thinking blockchain entrepreneurs and investors.The government and central bank have jumped onboard, too, recognizing the potential for this technology to introduce unprecedented efficiencies and interconnectivity to the local economy, supporting the movement with special economic zones to promote development and attract investment – particularly in fintech, of which 16 percent of the current industry is in blockchain or crypto.“There has been great movement from the government side, to learn and do more with blockchain technology,” says John ‘Jem’ Milburn, an EOS enthusiast who is based in Seoul while building business in the Cagayan Special Economic Zone (CEZA), continuing:“Banks and business are getting interested, too, to make real, sincere pushes to learn and provide services. The move to encourage and allow exchanges in CEZA is huge, and will lead, I think, to big growth in Philippines involvement in international blockchain projects.”One of the Philippines’ incumbent financial institutions, UnionBank, is leading the way in blockchain experimentation, applying the technology to everything from internal distribution of operating manuals to digitizing the badly fragmented rural banking system, effectively bringing costly processes that previously took a few days into real-time.For the rural banks, of which there are only 400 left in the Philippines today, compared to 1,400 just 30 years ago, UnionBank plans to partner with at least 100 of them to help build blockchain-based connections to the main national and international banking networks.Buoyed by early successes, and with 30 ConsenSys-certified blockchain developers already in-house, UnionBank says they will add 20,000 more programmers to the team over the next few years.But it isn’t just incumbents that are hard at work in the Philippines.With financial inclusion heralded as the next big wave of cryptocurrency adoption, startup Coins.ph is capitalizing on the opportunity to deliver secure, reliable and convenient payments services to the unbanked and unidentified.Founded by Silicon Valley entrepreneurs Ron Hose and Runar Petursson, Coins.ph is a blockchain-enabled digital wallet that can be used to pay bills, buy credit for your mobile phone and process peer-to-peer transactions – all with minimal KYC and without needing a bank account.With super-easy onboarding and a multitude of methods to top up your account, from sending bitcoin or ethereum to depositing Filipino Pesos at a 7-Eleven store, this offers some insight to how Coins.ph have managed to build a user base of more than 5 percent of the local population when the company is little more than four years old.Coins.ph are also using blockchain to lower the typical cost of cross-border remittances, a critical service for Overseas Filipino Workers (known as OFW) and their families.Money sent home by OFW is the Philippines’ second largest export, accounting for 10 percent GDP. In February this year, the Bangko Sentral ng Pilipinas reported that remittances had grown 5.3 percent in 2017 to bring in a total $33 billion.This was an all-time high for the Philippines, smashing government targets and positioning the Philippines as the third-highest global remittance recipient, only topped by the whopping diaspora of India and China.But on average, migrant workers lose more than 10 percent in international transaction fees when sending cash home. This is significantly higher than the average cost reported by the World Bank at 7.1 percent and has a devastating effect for the families that rely on those funds, not to mention the people that work so hard to earn it in the first place. Global Overseas Worker, or GOW, is a crypto exchange licensed by the Philippines Central Bank and Philippines SEC that is delivering up to 98 percent savings on the usual remittance fees copped by Filipinos.“Every little bit helps, and that saving is potentially the difference that puts a smile on someone’s face this Christmas,” says William Sung, COO of GOW. “However, it’s more than that. It’s about being included in the new digital economy and blockchain services are gateways into that inclusion.”Like Coins.ph and GOW, other local ventures such as Satoshi Citadel Industries (SCI) and Bloom Solutions are tackling the remittance problem too.Brian Calma Sales, a Filipino who works in Dubai as an office coordinator at a construction company, and has a side hustle offering hair and makeup services, says the extra money would go a long way.“Most OFW work abroad for their family – part of Filipino culture is helping our family, it’s our responsibility,” he says. “If we didn’t have to pay the fee, it could be used to pay off some bills, or save for a vacation. Also, Filipinos mostly work two jobs. So, instead of working extra hours to get the money needed to send home, maybe we could have taken the day off.”There’s reason to think this is only the beginning of a major movement.19-year-old Kyle Acquino found inspiration in those strong Filipino family values to come up with the idea that won the Accenture Choice Award at DISH 2018, the Philippines’ first-ever community-led blockchain hackathon.“I tapped into that mindset and came up with the idea to provide a platform where communities can grow together like a family,” says Acquino, who is studying Computer Science at the Technological University of the Philippines. His team’s idea, Psycellium, is to build a decentralized cooperatives network that would take the Philippines one step closer to globalization.A derivative of a DAO, Psycellium would allow cooperatives to merge, invest and join other co-ops without the typical cross-border concerns or restrictions.DISH 2018 (which stands for Decentralized Innovations Startups Hackathon) was a blockchain-agnostic event held in Makati in November, bringing together Ethereum, EOS and NEM communities and encouraging participants to make objective decisions about which platform would be best-suited to their project.“Blockchains are not all encompassing in terms of features,” commented Chris Verceles, CTO of decentralized disaster-response startup LifeMesh, developer at ConsenSys Philippines and one of the main organisers of the hackathon. “Each one is best at a certain use case and I believe we should be able to mix and match tools depending on what we need. Additionally,” he said, “a community only grows if it is inclusive.”Themes of inclusion appear to be top-of-mind for Filipinos, with many leading female-oriented tech communities hosting a local chapter in the capital of Manila, including Women Who Code, Women in Blockchain and Coding Girls. After launching in November 2017, the latter grew from five members to more than 100 in just six months. Their leader, 20-year-old Electrical Engineering student Alenna Dawn Magpantay, says the Philippines’ young population (the average age is 24) makes it “a haven for tech-savvy professionals who are creative and resourceful.”Michie Ang, a Director of Women Who Code Manila, said she’s looking forward to answering the demand for encouraging further training in blockchain languages in 2019. Her organization represents a network of more than 1700 female devs across the national capital alone.Bright young minds are plentiful in the Philippines. In fact, that’s what prompted intimate.io to relocate half its executive team here in August, to work more intensively with our existing Pinoy team of four.Since then, we’ve added another two devs with the help of our business process outsourcing (BPO) partner, Cloudstaff. Established in 2005 by Australian internet pioneer, Mr. Lloyd Ernst, Cloudstaff is an outsourcing company in the Philippines providing skilled workforces to a range of industry verticals.Today, the company employs more than 2000 staff and contractors across four regions, with plans to double in size over the next year.Growth data reveals that enterprises are outsourcing talent to companies like Cloudstaff more and more, with 1.3mil people now employed by BPOs in the Philippines. Ernst says the growth is being driven by small and mid-size companies who have moved to the cloud in order to utilize a global workforce. With a background working in China, Vietnam and Thailand, Ernst says that the high level of English language proficiency in the Philippines makes a big difference. Verceles agrees, adding that the Filipinos common exposure to online and western cultures makes local developers very trainable.“There is a large pool of untapped talent here, since a lot more hiring attention is paid to surrounding areas like Singapore or Hong Kong,” he says. “You can see this in the current scramble for blockchain talent, where companies are increasingly looking into the Philippines for more abundant developer resources.”To say it’s “refreshing” to be immersed within a community that is genuinely focussed on designing and building practical solutions to some of the world’s gnarliest problems… is an understatement.Milburn agrees, musing that “the Philippines community seems to be focused on the utility of the blockchain, more than the typical speculation and gambling we see in so many markets.”Another example of this is ODX, or Open Data Exchange, a data marketplace founded by serial entrepreneur, Nix Nolledo, which aims to deliver sponsored internet services to consumers for free via the blockchain. Partnered with industry giants such as Booking.com, ODX will be vital for emerging markets where the right to connect is fast-becoming as critical as the right to transact, and consumers are still offline up to 80% of the time because mobile data is so expensive.This is particularly vital for emerging markets where consumers are estimated to be offline 80 percent of the time, because data is so prohibitively expensive. Projects like Nolledo’s – and all others mentioned in this article – have no need to tout “blockchain social good” slogan because economic empowerment is simply an inherent byproduct of their operations.In the short time we’ve been stationed here in the Philippines, the blockchain community has welcomed us with open arms. We’ve found synergies, supported each other’s initiatives and kick-started some fabulous friendships.In the intimate.io office, our sense of team cohesion has never been stronger and productivity is through the roof! As a result, my co-founders and I have decided to stay for at least 12-months, and come January 2019, we’ll be moving into our new abode in Angeles City.After a rollercoaster 2018, traversing almost every continent on the planet, we’re all incredibly grateful to be plonking ourselves somewhere that feels way more stable than anything else in crypto right now.It’s true that something phenomenal happening here – and – I get the sense that the only hot air we’ll have to deal with in the Philippines…is the humidity.Have a strong take on 2018? Email news [at] coindesk.com to submit an opinion to our Year in Review.The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Advertisement Will the Sean Parker of blockchain please stand up? by Chris Dannen Aug 17, 2015 - 8:45 AM CDT 2 Comments Tweet Share Post Now that Ethereum Frontier has launched, the only thing between us and cyber-utopia is an app. Not just any appbut a P2P blockchain app that makes normal people lots of money. And before that, we need an anti-hero willing to do the work of building the prototype for this world-changing app without getting paid. Imagine a company. Imagine the management of this company resigns. The employees who remain are allowed to keep the company running by working peer to peer. The incentive: theyd get to split the money that used to go to management salaries. Advertisement That is a lot of extra dough to go around. But without anyone at the helm, people would need a system of agreements between one another to make sure each individual was held accountable to coworkers. Without a legal department (they resigned too) each individual would need to write their own contracts: one for each person they work with regularly. As an editor, my contract with a writer might stipulate they send me a certain number of articles per day; when this smart contract looks in my WordPress account and sees articles, it automatically executes on our agreement and pays the writer. Thats supposedly the promise of blockchains: peer-to-peer transactions for everything. And its the vision of Ethereum, the open source blockchain platform that officially launched last week. If you missed the Ethereum launch, you are in no small majority. Distributed apps are still in the toy stage, with steep learning curves and no easy commercial path. Meanwhile, conventional startups pay. It will take someone making a killer d-app in the spirit of Napster, for the fun of disruption, to kick off an economic tremor. You dont see the BitTorrent company today making billions of dollars and becoming the new Google, says Stephan Tual, CCO of Ethereum. What you do see is people starting to think: I dont want to pay for music anymore. Its allowed Apple to come and create its music store, says Tual. That means someone needs to find a highway-robbery scenario that lots of people care about: something on the order of $20 CDs, says Tual. Whenever theres a disruption its usually because of reaction to a rip off that has somehow become normal. Bitcoin is useful; it obviates bank charges and taxes. But those fees arent acutely frustrating our brilliant youth quite the way the retail music industry was doing back in the Napster days. When the killer d-app comes, it might be employment. With millions of college-educated Millennials under-employed or under-earning, its only a matter of time before pressure to earn drives people towards online marketplaces where knowledge workers can moonlight and build skills. This Napster for employment might get attention from engineers, inspiring them to build mainstream blockchain copycats. The ultimate promise is persistent online identity. Participating in more than one employment marketplace would reflect back on one common log of ratings and transactions. This reputation system would ask: What is this Stephan good for? Has he sold stuff on the decentralized eBay? Has he used the decentralized Airbnb? says Tual. All that reputation accrues over time. Who Stephan is becomes a valuable thing; I can then put that as a collateral for a loannow youre in microfinance territory. Abstractly, the value of blockchain is governance: how we organize with each other and work together. So just as Napster led to BitTorrent and the iTunes Store, niche blockchain applications could radically change the way our corporations and governments work. The impact will be tremendous, says Tual. Advertisement Tagsblockchain Ethereum Identity Reputation Related stories When is a startup pitch not a pitch? Retrospective thoughts on TechPitch 4.5 Voices in AI Episode 42: A Conversation with Jem Davies Voices in AI Episode 41: A Conversation with Rand Hindi Voices in AI Episode 40: A Conversation with Dennis Laudick Advertisement 2 Comments Jules Burchette November 9th, 2015 content marketing Glen Simister September 8th, 2015 Im trying to build a block-chain based browser extension called GiveMeCredit which allows people to vote money into existence. Its sort of like crowdfundingwithout the platform. http://givemecredit.org there is a demo of the browser plugin on the bottom of the page. However, this is just a centralised prototype. Im currently having issues with Ethereum. Comments are closed.

It had an all-star team, a product that promised to give Bloomberg a run for its money – the aptly-named Blockchain Terminal, and funding to run a massive ICO campaign. The founder, a mysteriously well-capitalized investor, was zealously dedicated and he had gathered a community of investors that were champing at the bit to grab a piece of future riches.It was the perfect product for the next generation of traders. Geeky enough for gearheads and familiar enough for Wall Streeters, the BCT was supposed to bridge the gap between enthusiasts on an exchange and hard-charging professionals. And it almost did.Still, many ex-employees said, BCT was a scam and that founding investor, a bearded Canadian with a quiet demeanor, was not who he claimed to be. In fact, they said, he was a known financial criminal. Those employees requested to speak anonymously, citing fear of reputation risk and physical danger.Riding the initial coin offering wave, which took financial markets and media by storm at the end of 2017, this founder convinced large investors in Asia and Australia to pour millions into a token sale aimed at building out their terminal device. The firm shipped out dozens of the terminals to well-known crypto hedge funds. But the product itself, like the company, was a facade, according to former employees and investors.At the heart of the venture is a man once jailed for running one of the most notable financial frauds in Canadian history: Boaz Manor. Working under the pseudonym Shaun MacDonald, Manor tricked BCT employees, investors, and potential customers and, in the process, created the definitive grift of this nascent crypto tech bubble.Shaun MacDonald is a ghost. Searching for him online brings up a few random sightings including a truncated AngelList profile and countless links to footballer Shaun MacDonald of Wigan Athletic. Even ZoomInfo, a site that acts as a modern White Pages, brings up a MacDonald in Newport Beach, California who works at Estey-Hoover.Insiders noticed MacDonald’s presence on the New York blockchain scene at the end of 2016. Prior to diving into Blockchain Terminal, he was looking to buy Anthony Scaramucci’s SkyBridge Capital, according to a hedge fund manager who was briefed on the deal. He was tall with dark hair and a full beard, a face that looked a little worse for wear, and he was a few pounds overweight. He had money – lots of money – and after dumping the Scaramucci deal, he decided he wanted to build a terminal to give traders an edge in crypto transactions. He based the product on the ubiquitous Bloomberg Terminal, a tool that made former New York Mayor Mike Bloomberg a billionaire by serving just-in-time data to Wall Streeters using an arcane system that was a cross between a Telnet session and a video game.And everything ran like a normal startup. They acquired a dev team and made videos. The advisory board bloated to the point of inoperability. High-profile hires studded the staff page like jewels in a crypto crown.BCT made a major splash in the tech scene thanks to a PR team at CreateARipple that built the BCT website and began outreach to major tech blogs – although the coverage wasn’t always positive.“It looked like a company. They actually did hire sales people and developers — the actually people to execute,” one former employee said.“In the beginning we just thought [Shaun] was an overzealous investor,” another former employee said. “We didn’t think he had any power.”Blockchain Terminal and CG Blockchain had all the fixings of a bonafide tech startup with world class offices, a president with an impressive Wall Street pedigree, and a sleek and sexy product.But something seemed off to many employees of the firm.“No one was aware of his true identity and no one knew his past,” said one former employee of Blockchain Terminal. “Whenever people got close to the truth, Shaun would push them out.”In recent months, Blockchain Terminal employees discovered MacDonald was actually Boaz Manor, a disgraced asset manager from Canada. Boaz – Bo to his friends – was a financial golden boy, a strong-jawed financial titan who ran Portus Alternative Asset Management, a firm that managed $800 million at its height.As reported by The Star, Portus misappropriated about $106 million and $8.8 million was sent to companies in Hong Kong to purchase diamonds. Those diamonds were picked up by Manor’s sister, according to court documents. Those diamonds are also now missing.Quebec banned Manor from the securities industry and he was sentenced to four years in prison for his transgressions. Specifically, he pleaded guilty to one count of money laundering and one count of disobeying a court order. Chastened, he disappeared from public view and many thought he was gone.Manor operated Blockchain Terminal in full disguise, concealing his name and any potential links to his past that would reveal his tarnished financial reputation. He also grew a beard and dyed his hair red. Although he wasn’t named the company’s president, Manor was secretly running the show according to several people familiar with the situation, making “all final decisions.”“As soon as I saw that picture of Boaz I just about shit my pants,” said one hedge fund manager. MacDonald was Boaz.“Under U.S. securities laws, the CEO of a company raising funds from the public has an obligation to provide investors true and accurate information. Changing your name, hiding the fact that you were banned from the securities industry in Canada and that you are a convicted criminal who spent up to four years in jail would qualify as material misrepresentations and as actionable conduct under U.S. law,” said crypto litigator David Silver.“I googled Boaz Manor and I said ‘Holy shit.’ Not for a second did I think it was anyone but him,” a hedge fund manager who beta-tested the terminal product said.While Boaz kept an underhand grip of the reigns, the person who appeared to be in charge was Bob Bonomo. The former chief information officer at $500 billion asset-manager AllianceBernstein, Bonomo joined BCT in late 2017.According to numerous documents reviewed by The Block, Bonomo ran Blockchain Terminal as president of CG Blockchain, an affiliated company. He has since scrubbed any mention of Blockchain Terminal from his LinkedIn profile. In an interview with the Financial Post, following the publication of this report, Bonomo confirmed some of The Block’s finding: “The President title was in name only…. I had no exposure to, and no decision-making authority for, the management of any of the company’s finances, internal operations or personnel.”  While former employees working on Blockchain Terminal told The Block that the main objective of the product was often in flux internally, externally it was marketed as a institutional-grade tool that could lure in traditional Wall Street into the volatile crypto market.“We believe a convergence will occur over the next few years whereby the new digital currency asset class will be seamlessly integrated into traditional asset class processes, systems, and portfolios,” Bonomo said in a video published March 2018. The $999 terminal included a 32-inch “HD Terminal” along with a wireless mouse and keyboard, and hardware private key.The firm targeted crypto hedge funds with the product. It didn’t go well.“They sent us the terminal to test for free and they forgot to install it and it just hung out for three months before we forced them to come pick it up,” one hedge fund manager, who declined to speak on the record, said of the terminal product.“They sent us a terminal and said they would get in touch with us about setting it up. That took six months,” another fund manager said. An attachment in an email sent by adviser Christian Ferri to a hedge fund manager in March show that 20 crypto hedge funds were beta testing the product, including Dichotomy Capital, Three Bridges Capital, and Zega Financial. Ferri told The Block: “I was shocked to learn about the deception perpetrated by Shaun MacDonald. I applaud the work of investigative journalists and hope that any bad actors in the cryptocurrency space take note that they will not be allowed to operate in the dark with impunity. I have been and continue to be a strong and consistent voice for full transparency in the cryptocurrency space so that the many great advancements and innovations can be brought to the public.”The aforementioned hedge funds didn’t respond to a request for comment prior to publication. However, Three Bridges Capital later told The Block the firm “was not a beta tester” of the platform (emphasis is their own).Still, in an interview with the Financial Post, Edith Pardo (more on her later) defended the firm’s product’s functionality, saying: “BCT is a viable, operational company with a legitimate, viable product.” Pardo, acting as a lawyer for BCT and CG, emailed The Block contractor Larry Cermak a lawsuit purporting to seek $40 million dollars in unspecified damages after this story was originally published.  The team behind the terminal included “PhDs and quants” according to marketing materials. They included Founder Adnan Ali, VP of Government Policy Daniel Araya, COO Alexander Bogicevic, Ed Sappin, CFO, and CTO Andrew Pankov. Former Economist dev and startup connector Oz Sultan joined in 2017 as an advisor and left the company in September.In addition, public relations specialist Edith Pardo worked alongside Manor and the Blockchain Terminal executive team. Pardo, an executive at Newport California-based public relations firm Estey-Hoover – the same firm that seemingly hired Shaun MacDonald – signed a Form D notice of exempt offering of securities with the Securities and Exchange Commission. The full extent of Estey-Hoover’s relationship with Blockchain Terminal, or affiliated CG Blockchain, is not clear. Still, it is clear that the Pardo worked closely with Manor – Pardo is even friends with Manor on Facebook – and other executives at Blockchain Terminal used Estey-Hoover email addresses and they were paid by Estey-Hoover, according to documents reviewed by The Block and numerous people familiar with the situation.“Edith Pardo looked like she was working for Shaun,” one employee said. Pardo did not respond to calls seeking comment. In an interview with the Financial Post Pardo said Manor was just an consultant for Blockchain Terminal. CG Blockchain also announced partnership with Factset, the billion dollar financial data provider, to allow clients of the firm to access CG Blockchain crypto products, the firm announced in February. And that was not the only thing that added to Blockchain Terminal’s legitimacy. Polished, well-spoken, former Wall Streeters also promoted the terminal in YouTube videos uploaded by the company.“For crypto traders it makes it easier to trade because you’ve got all the information right in front of you in one place. You’ve got the chat rooms, the social media news flows, and all the specific websites like CoinDesk, and all those types of flows,” said Michael Caponiti of Archimedes Fund Management while Joel Emery of Tareo Capital found the team to be stellar.“My involvement with BCT was really my focus on compliance. And their focus as a company as a team, from a technology standpoint, on compliance is what really drew me from the technology originally. I think this is going to be very powerful,” he said in a video. Emery did not respond to a request for comment and is now advising another blockchain terminal called Lion.The Blockchain Terminal Telegram room was a lively place full of boosters and populated by a team of social media managers who reacted to nearly every question. The Reddit community, found at /r/blockchainterminal, was lively and excited about the prospect of a true trading tool for professional investors.Both of those communications hubs are considerably diminished.Further, despite questions surrounding its functionality, cryptocurrency media personalities raved about the product. Jon Rice — a managing editor at Crypto Briefing — wrote that “The Blockchain Terminal represents a quantum leap in crypto trading” in an article that appears to have been scrubbed from Crypto Briefing’s site. Ran NeuNer, host of CNBC South Africa’s CryptoTrader show, wrote in a tweet dated June 15: “I went to Blockchain Terminal today and had a demo of the system. It’s really advanced and has many tools. It also has a market depth tool across all exchanges. If you are a serious trader that trades for a fund or a large portfolio tweet me and we may send you a screen.”I went to Blockchain Terminal today and had a demo of the system. It’s really advanced and has many tools. It also has a total market depth tool across all exchanges.If you are a serious trader that trades for a fund or a large portfolio tweet me and we may send you a screen. pic.twitter.com/4uRt3MlEkTNeuNer claimed to be an investor in the firm’s initial coin offering. Two people familiar with the situation said he invested $1.3 million. NeuNer did not respond to a message seeking comment for this story. NeuNer at one point did list Blockchain Terminal on his investment disclosure page, but that disclosure has since been scrubbed. NeuNer has said he only invested $350,000 into the project. Like all good blockchain companies, BCT needed a token.The BCT token that powered the Blockchain Terminal was to serve as a key that unlocked enhanced features and tools on the platform, according to a white paper dated April 27.“The BCT Token will provide access to all the features and tools of the Blockchain Terminal, and enhance the convenience of Blockchain Terminal devices,” the paper said. “With the BCT Token, users can access applications and tools offered on the Blockchain Terminal Fundstore,” the team wrote. As per documents reviewed by The Block, the token sale began in September 2017.According to the documents, the company offered 510 million tokens in the token offering.“They weren’t selling the terminal,” one U.S. hedge fund manager said. “They offered them up for free.”The main point, he said, was to get the hedge fund managers to buy up the tokens which would increase the value for the original token holders.“’BCT will become the reserve currency for traders – just like BTC is the reserve currency’ – that was their exact marketing line,” the trader said.It is still possible to purchase tokens on BCT’s website in various packages. In BCT’s Telegram group, administrators described the token as a utility token. Still, it’s not clear if that means the firm would have been required to subscribe to U.S. securities law. As part of the token sale effort’s the firm brought on a slew of world-class advisers, according to a person familiar with the situation. At the time of the firm’s token sale, BCT’s advisers included Todd Ruppert, former president and CEO of T. Rowe Price Global Investment Services, Scott Walker, CEO of DNA, an investor and consultancy in the crypto market, and James Duplessie, former Citigroup portfolio manager who is now an investor in blockchain technology at Pangea Investments. A full list of the advisors exists here.“In March and April the idea was for them to raise money. And then when the sale ended in April they were supposed to get proper titles. Legal found loopholes to extend the sale privately, which happened. And they continued to sell their tokens into August,” one ex-employee said.As money rolled in the ICO buyers grew more and more excited, the possibility of buying into something as exciting as the next Bloomberg terminal was palpable and the team – veterans all – promised to be able to deliver on that dream. But things took a sharp turn after Bonomo left the firm over the Summer. In the weeks after he quietly resigned, Manor revealed to his employees his true identity and the company stopped paying its employees. It’s not clear exactly where Manor is, but the project continues under a new leader and under a new company name, BCT Inc. At the end of October, BCT Inc announced the Blockchain Terminal would go on sale for the first time to the public.“Developing an integrated blockchain platform for institutional presented significant technical hurdles,” BCT CEO Josh Dettman, wrote. “However, I feel strong pride in being part of a team with the vision and the perseverance to conquer those challenges.” As for Boaz/MacDonald, had BCT supporters seen his yearbook quote – “Into the future I see an array of precious jems, diamonds, and rubies glowing with effervescent light … and a guy named Louie yelling ‘Put the jems in the yellow bag, the diamonds in the green bag, and get a move on it before we get busted!” – they may have had a solid predictor of future behavior. Most didn’t.With assistance from Larry Cermak and Isabel Woodford. This article has been updated from its original form to include quotes from Edith Pardo and Bob Bonomo published by a source following this report’s publication. It was also update to note that Ran NeuNer claims only invested $350,000 into the project. It has also been updated to note that Pardo emailed a lawsuit to The Block contractor Larry Cermak. 

technology is transforming the way we pay for everything, but at what cost? month I was asked to speak at a conference in the City of London on the ethical issues surrounding new payment systems. The audience was packed with people working on innovative things like payment apps for smart phones and ‘contactless payments,’ where you can just wave a card or a phone financial technologies are rapidly changing the way we pay for everything. This may be convenient, but as wand-waving and other high-tech alternatives to cash become the only ways to pay for anything, what happens if the wand loses its magic? What are the costs of becoming entirely dependent on technology that banks have been such lousy guardians of the public trust and that technology firms have been so disrespectful of our privacy, I told the delegates that major dangers lie ahead. I see at least four first is how to protect consumers as they become dependent on electronic payments and e-money systems in their everyday lives. E-payment systems are becoming equivalent to utilities like water and heat, in the sense that they are indispensable to our ability to live normally. So what will happen when someone is switched off from a payment system? With such power comes great responsibility, so new regulations will be required. Some authorities like the Financial Conduct Authority (FCA) in the UK, appear to recognise this issue, but no-one knows how far they will go to protect consumers. uncertainty is related to a second issue—that of anti-competitive practices. Visa for over 80 percent of the credit card market worldwide, and well over 90 per cent in many countries. The Financial Times refers to this situation as “a well-protected oligopoly” and so, for them, a good investment. Yet it also represents a hitherto unimaginable degree of control over the means of payment. Even if policies are adopted to diversify this market or—if that doesn’t work—to break up these oligopolies directly, such unprecedented levels of control raise a third area of concern in the form of peoples’ rights to privacy. my understanding of good governance, individuals are sovereign and should only give up their freedoms knowingly. There was no such consent to mass surveillance, and privacy is a human right that is recognised by the United exchanges of general communications data between spy agencies are routine, what happens to privacy as the payment revolution rolls on? the UK, the FCA gives the following guidance  to the e-money the security of payments and the protection of sensitive customer data is a critical part of the infrastructure of robust payment systems. Payment service providers have a responsibility to maintain adequate risk management systems and ensure consumers’ payments (including payments messages) are safe and FCA haven’t yet published their advice on the security of internet payments, but they do reference the European Central Bank’s “Recommendations for the Security of Internet Payments (SecuRe Pay)” from 2014, which mention privacy just once in a footnote and don’t mention  surveillance at all. vague nature of these pronouncements on questions of consumer dependence, market oligopolies, and privacy, means that little is being done by regulators to protect people from a fourth issue –perhaps the scariest of them all— the recent ‘weaponisation’ of payment systems. the last few years, governments and politicians have told payments firms or banking networks to switch off access for organisations or banks they want to damage, outside of any legal framework. For example in 2011, after the online continued to embarrass the US military by releasing diplomatic cables on the conduct of US wars, MasterCard, Western Union and PayPal responded to requests from a small number of US politicians to block Wikileaks' accounts, preventing them from receiving donations, even in after disputes between Iran, the European Union (EU), and the US in 2012, the EU the Belgium-based banking network SWIFT to suspend all transaction services with Iranian banks. In 2013, the US also encouraged the EU to impose financial sanctions on Russia by targeting five major state-owned Russian banks. or not you like Wikileaks, Iran or Russia, the transformation of payments systems into weapons of geopolitics is a crucial issue. It has legal ramifications because such moves can be illegal under existing national and international laws. That’s why the US government has sought to normalise its actions by issuing an executive order authorising it to ‘block the property’ of any foreign entity involved in, or benefiting from, online activities it deems contrary to US interests. raises a political dilemma: should governments be able to disrupt organisations’ financial operations so easily? What does it mean for international relations when such a weapon lies in the hands of just a small the US, the EU and a range of US internet firms don’t want any additional cross-border regulation of payments systems, arguing that private arrangements are working just fine. That means that pressure for change will have to come from elsewhere, including from responsible professionals in the finance and diversity in the financial marketplace is also required so that if payment firms do cut off a group like Wikileaks, then those firms would lose custom rather than damaging the recipient because of a lack of payment alternatives. There also need to be alternatives so that if SWIFT is once again pressured by a single nation to freeze out another country’s banks, then the rest of the world’s banks could use another system. Here then is an urgent role for payments innovators to provide new alternatives. what about alternative currencies like Bitcoin—how do they fit into this emerging picture? Given the problems with oligopoly power that exist in finance today, currency innovations could be usefully disruptive. Yet if such ‘crypto currencies,’ as well as novel credit transaction systems like Ripplepay, are to be usefully transformative, they will also need ethical leadership from entrepreneurs and appropriate regulations from law the flaw in the way it is issued to first adopters and those rich enough to have powerful computers. Instead, we should explore the social benefits that can come from adaptations of the ‘blockchain’ system for distributed ledgers that can be used for currencies that are more equitably issued, such as through innovations might be more positive still—for example where small business networks can create their own currency systems. One such system, called Banglapesa, is a new currency in Kenya that is backed by the spare capacity of participating micro-entrepreneurs. Now being replicated across the country, these currencies are created autonomously by business networks so that their trade is not restricted by a lack of national currency among their members. If such systems can be supported by innovations in payment systems such as with mobile phones, then financial technology could have a positive role to play in promoting development in poorer communities. was these grassroots innovations that drew me to the topic of payment innovation in the first place. As I’ve looked at them more closely, I’ve come to realise that we have to raise awareness of the ethical and political aspects of the entire global payments sector. If current trends continue, organisations and individuals are at risk of becoming prisoners of their payment systems, but open democracies require open transaction mechanisms. By ‘open,’ I mean non-discriminatory, secure, apolitical, and well-regulated systems, with a variety of competing alternatives so that people are not the debate forward on these ethical and political issues requires more of what staff’ in financial services—people who recognise the public role of payments systems and decide to take that responsibility seriously, by looking beyond near term profits to what is best for society. root, this debate is not about individuals satisfying themselves that they are ethical, but about promoting more informed public involvement in a discussion which currently excludes pretty much everyone without financial expertise. We should all be calling for international institutions such as the International Telecommunications Union to play a greater role in providing a framework for a future where billions of people will be making e-payments, safely protected from abuse by corporate oligopolies or geopolitical struggles. Jem Bendell is co-founder of Leading Wild retreats as well as courses on Sustainable Leadership at the University of Cumbria.    We encourage anyone to comment, please consult the oD commenting guidelines if you have any questions. NGOs, Social Change and the Transformation of Human Relationships The Hidden Leaf Foundation's useful reading list on transformation If you would like to add your name to this list by supporting us with a grant, please contact a member of our team. openDemocracy Ltd, The Print House, 18 Ashwin Street, London, E8 3DL. Tel: +44 (0) 207 193 0676

THIS ARTICLE IS PART OF A NEW SERIES OF REVIEWS I AM WRITING ABOUT COMPANIES REINVENTING MARKETS USING THE BLOCKCHAIN. A note before we begin: because it would take up the entire article to explain how blockchain works, I assume you have a basic understanding of the core concepts. If you don’t, I recommend watching this quick 3 minute video before you continue with this or any of my other blockchain articles. Have more time/interest? I recommend this slightly more in depth course. Blockchain has the potential to reinvent the business of traditionally ‘offline’ Contractual Agreements, such as an Escrow Agreement, but could be used for contracts of all sizes as well. In this post, I begin to explore how Blockchain can and will lead to a truly secure, distributed way in which to enter a traditionally offline agreement, or contract. While standard legalese, notaries and the courts backing those agreements up with law indeed do offer a strength only the law can hold, they are not always efficient or even realistic to defend in the case of a default. In essence, sometimes contracts in the traditional sense, provide a false sense of security because you need to be able to defend them if they are broken. Now, in a similar fashion to the concept of an escrow service where parameters are met before payment is distributed, the blockchain and Smart Contracts can be used to hold terms and resulting actions to be taken if terms are met. Using a concept known as ‘oracles,' any information that can be verified by a human, can become part of the Merkle Tree used to establish the authenticity of the agreement in question. This data could be collected manually, or obtained using a data feed from an API of some sort. So, instead of getting lost in the technical weeds in this post, I want to play out a fun real-world example of how this could work, and then end by looking at Zen Protocol, a Blockchain startup working to achieve this idea. Let's take a look at a real world everyday example of how Blockchain, Smart Contracts, and Oracles could be put into play. A Simple Everyday Business Escrow Contract Scenario using blockchain. The Deal: Sacha and Henry have arrived in San Francisco to attend Burning Man. But, before they do, they are meeting Jen, a software engineer who claims she can build their new web app and get it launched on the App store by the time they return from Burning Man. They agree the app will work open without crashing and will allow a user to quickly share their location with anyone via an email message containing a map link. The Price: They agree on a price of $15,000 for the complexity and rush service and agree to pay Jen in BTC, 50% now, and 50% upon verification that the app is in the App store. They also agree on a Smart Contract transaction fee that will be paid to 7 Oracles, each agreed to by Jen, Sacha and Henry based other reputation of providing accurate data. The Risk: As with any contract, both parties are taking a risk. Sacha and Henry are risking that Jen will run off (perhaps to to Burning Man as well) and not develop the app, and Jen is risking that after she builds and launches the app that Sacha and Henry will pay the remaining 50% like they said they would. This is where the concept of Escrow comes in, and why it is often used in larger transactions, such as for a down payment on a home. However, it can be used for smaller, yet still meaningful transactions as well. The Contract: Blockchain Smart Contracts and Oracles act like Escrow. A Blockchain Smart Contract can ensure that the funds being represented exist, and sound an alarm if they ever were to disappear mid-project. In this example, Jen can know Sacha and Henry have the BTC to pay her once she launches the app, she doesn’t just have to take their word for it. Delivery: The fateful day comes, and Sacha and Henry return from Burning Man and search the app store for their app. They find it, and download it! Jen did a great job, and it does what they wanted. It seems to download, but won't launch. Oh no! They let Jen know that before they can pay her, that has to be fixed. Jen tests it, and it doesn’t happen to her, the App works fine every time and its the same on three of her friends' phones. She lets Sacha and Henry know that it must be their device they just brought to the dessert. They disagree, won't try to test on a different device, and refuse payment until it works on their phone. Difficult clients indeed. Here we are, the moment where the contract becomes everything. Did you do what you said you would, and if so, what are you owed? If not, what must you do to satisfy the contract? This is where we traditionally begin to engage in long drawn out emails, and perhaps even lawyers, and courtrooms. However, using Blockchain, Smart Contracts, and Oracles, we can use other peers on the network to confirm whether or not a contract’s terms were met. In this case, is the app visible on the App Store, and does it run. Contract Execution: Jen is confident that she performed the work correctly, and submits the smart contract for review. If the oracles find that the app downloads and runs, they will execute the contract and her remaining 50% of BTC will be released. If they don’t, it will not execute, and will remain open, not paying out her remaining 50%. Dispute Resolution: All 7 oracles attached to the Smart Contract report back data resulting in an accurate execution and Jen is Paid. Sacha and Henry need to get a new phone, or at least be willing to try on a different device. In the alternate scenario, where all 7 Oracles agree on the fact that the app won't load, Jem is left to deal with the fact that she needs to rework her code before she will be paid. You might ask, what if all Oracles don’t agree the app works? Thats a good question, and brings into play Blockchain’s “Multi signature” property, sometimes called M-of-N. Again, will link to explain technical details in order to keep these articles high level, but essentially, they allow for the there to be more than one person required to execute the Smart Contract. In my example here, this person could be a notary public Sacha, Henry and Jen agreed on, who agrees that if more than half the oracles agree the app works, that they will also digitally sign the agreement, adding an extra layer of neutrality and security to the contract for both parties. Conclusion: All of this verification was done in a secure, affordable, and distributed in a peer to peer network, instead do relying on a centralized authority like an escrow firm, or a court to decide what happened. You can imagine that, for example, using a data feed, such as for whether a stock price hit a certain price, the job of an Oracle can become even more efficient, handled programmatically, and realistic for millions of financial transactions. By creating a platform where peers can validate for other peers, we all become the trusting governing body for everyone, instead of placing this responsibility on one central entity. A note on trusting Oracles: It’s an important thing to note, is that the people reporting the data, the Oracles, depend on their data being accurate to survive. This inherently provides protection against fake data being used to falsify the Merkle Root. While this isn’t 100% failsafe, it is very similar to the Proof of Work concept where producing invalid, falsified work only hurts the overall chances of any given miner, and it wouldn’t make sense to falsify data if one wanted to have any longevity as an oracle. Zen Protocol, which plans to hold its ICO in November, is a great example of a Blockchain startup working to realize the technology needed to make the above example possible, essentially offering a solution for decentralized, automated escrow. The team has created a viable, decentralized, Oracle system, meaning the smart contracts can operate on things which happen in the real world - the most important thing missing from smart contracts. But also, in addressing one of the main issues with Smart Contracts, they have created proprietary technology to ensure contracts are bug-free before they are agreed to. There is nothing worse than a contract that won't run when you need it to. That’s akin to not being able to produce the contract at all in a court of law, you might as well not have it. Their F* language demonstrates contracts they are free of errors and security vulnerabilities. Learn more, at www.zenprotocol.com, or check them out on Twitter. Another example of how blockchain is reinventing business and changing the world. This article is part of a new series of articles I am writing profiling businesses reinventing existing industries using the Blockchain. It’s not just a solution for the Title and Escrow industry, it has the potential to become the new backbone of the internet. Watch, and you will see more and more companies emerging with solutions to existing markets with solutions based on the Blockchain. It’s early days, and the best is yet to come. Follow me here as I will continue to write about great examples of the “Blockchain reinventing business.” If you have or know of a company I can review and potentially profile, please submit your idea to me at reinvent.biz. Disclaimer: I make the best effort to select companies I feel are the best fit for the markets I profile, and in some cases I work directly with PR firms to promote their clients, who are the leaders emerging in the space. While I am not directly affiliated or invested in the companies I profile here, I do own Bitcoin, Ethereum and other cryptocurrencies. I hold investment positions in the coins, but do not engage in short-term or day-trading. When mentioning an ICO or TGE, it is not intended to be investment advice.  You should seek a duly licensed professional for investment advice. (I recommend Abacus Wealth Partners, for their philosophy of sustainable investing.) Thanks for reading, and tune in again next time by following me @jesseseaver. loader: "https://cdn.taboola.com/libtrc/aol-huffingtonpost/loader.js", placement: "Below Article Thumbnails",

Everything has its own time. Everything sprouts, grows, withers, and disappears. This is the cycle of life and the same process also applies to money and the way you obtain it.Our perception of money how it is earned and its value is undergoing a major change.You open your wallet and see a dime. The coin is physical, you can pick it up and hold it in your hand, and you are confident that it actually has a value of 10 cents. In a few years, you will most likely be holding a small plastic item shaped as a heart or a star, or you might not even have a wallet and only have access to a virtual currency, which you do not know what looks like. You have to be prepared for a financial revolution in the next 10 to 15 years.Money as we know it has only existed for a relatively few years the first banknote was printed in France in the 17th Century. More, recently, however, currencies have started to disappear; more than 600 in the last 30 years, and the trend continues.What has replaced them?Several leading experts point out that the current monetary system is bound to undergo significant changes in the years to come because it is compromisedby issuessuch as inflation, the illiciteconomy and counterfeiting, to name a few. At the Shambala Festival, held in England in August, Jem Bendell offeredcourses on how to create your own currency.This situation offersup innovative ways to structure an economic system. The current monetary system might actually be a hindrance to people, countries, and governments to work together more optimally than they do today. The monetary system of the future does not depend upon politicians or bankers but will be managed by communities and lending platforms, such as capitalaid.com and lendingclub.com.Money changes societies, and societies change money. This is how it has always been and will continue to be. When money was born, the population of our planet was around 2 million. Today, there are over seven billion of us. The system is under pressure because of an increased demand for money. A massive demand for financing is created because of the current growth, and this growth has created a historical level of economic debt in the world, which in turn causes the increase of inequality.Money is printed by banks, and economy is created when the banks lend money, including loans to governments and countries. However, the system simply does not contain enough money to pay off all the debts in the world today.The monetary system is at the core of the economic system that we know today. Almost all transactions are based on an exchange of money. It is actually in many cases illegal for two parties to trade services (for example, moonlighting). Money is only valuable as long as the value is guaranteed, and as long as we believe that it is valuable and accept it as a payment method and a reward for goods and services. However, nowadays, the trust in money and its value is under pressure. Trust in this system is being eroded. At the forefront of this movement is the worlds young people and themany small entrepreneurs who cannot obtain access to financing.In the last 10 years, we have seen how relatively easy it is to defraud, cheat, and lose money in the current financial system. The banks print money out of thin air and profit from doing so. Today, we are closer than ever to a financial revolution in which money will disappear and be replaced by something else. Physical banknotes will be substituted by local social currencies, points that you earn by doing social work, services, or companies own currencies based on customer loyalty, among others.Money goes mobileThe use of credit cards has dramatically increased in recent years. VISA and MasterCard have a share of more than 80% of the globalcredit card market, and this situation can be viewed as a regular oligopoly (feel free to disagree). However, a new and more comprehensive system is rapidly developing: mobile payment solutions. New technologies are providing new ways to make payments and transfer money via mobile phones, apps, Bluetooth solutions, and so on.We do not yet fully understand the consequences of a society without money. Even today security is merely a footnote in the recommendations of the European Central Bank. Payment networks, such as SWIFT, PayPal, and Western Union, among others, can close peoples accounts in no time if there is a political disagreement with a Russian, Iranian, or just a politically active account holder. You may call it national security; however, you may also call it financial terror.What will happen when we will experience massive IT breakdowns that are expected to occur in the future? Future wars will not be fought by troops on land but rather by people sitting behind computer screens. Earlier, banks have not shown the capability of taking timely precautions, and IT companies still lack the evidence to prove that they respect privacy and are capable of protecting sensitive data. Thus, we are facing a completely new and challenging ethical and security-related problem with e-money and virtual payment methods.The young generations have quickly adopted to the new payment methods, and many of them do not know the feeling of holding a real banknote in their hands. In a way, money is becoming imaginary, forming a basis for disloyalty, in particular, among Generation Z (15 to 25 years). Based on estimations, the global mobile pay market will surpass $500 billion in 2016. In other words, it is a huge market. This market is still based on money, but money spent by using mobile phones.Because people are not holding the money in their hands, loyalty is likely to decline.Israel and their many currenciesIsrael is known for being atrend-setting nation as far as innovation and IT is concerned.There, entrepreneurs are working on the development of the currency of the future because Israel is a good place to test such new initiatives. The American company Robocoin has set up their Bitcoin ATM, which makes it possible for people to exchange their virtual currency to cash. Israel is currently the worlds most active Bitcoin market and the home to hundreds of new start-up companies that focus on the development of technologies related to virtual money.One of Israels leading economists, Galia Benartzi, who is famous for her heart money, believes that the global economic system is deeply unfair and unsustainable. She states that believing that money has a value is an illusion. Therefore, she, together with millions of others, is trying to do something about this.In Israel, there are now no less than 87 passable alternative currencies that you can use to buy real estate, books, clothes, food, and so on. These currencies are in direct competition with the countrys official currency, the Israeli shekel.You encounter names such as Isracoin, Heart Money, and Ripplepay, which do not just boast ethical leadership but also regulations, making them passable as global currencies, credit and lending systems, as well as savings methods. O-share is a good example of a social network where money is created and used in a completely new way. This development stems from lack of trust in banks, because the young people feel that they pay too-high interest rates and because the real-estate market and start-up companies, particularly in Tel Aviv, are under pressure because of lack of financing options for the young people.The young people simply want more fairness in the financial world. We might think that this ideal is a bit nave, but many thinkers and researchers argue that this trend will lead to the disintegration of our traditional perception of money. The accrual of social capital is based on services (for example, you take the neighbors dog for a walk), and if you need money, you are allowed to print them. However, inflation is avoided because the ownership of the money is transparent, and the amount of money people have printed is also transparent.Young people demand transparencyIn Denmark, money is handled by the National Bank and the central banking system. The central banks decide who can borrow money and how much interest they have to pay, and through speculation and manipulation of money quantities and interest rates, they control economic upturns (and downturns). This system does not offer sufficient transparency to satisfy what the young people are looking for.The system in these new social monetary societies works as follows: participants will be contacted by the society if they save too much and thereby block the flow of the currency. The participants then agree to keep the money flowing so that they can work for the society instead of the money ending up passively in their pocket.These types of currencies exist all over the world. In Kenya, for instance, microentrepreneurs created a new currency called Banglapesa. These new currencies start out as a kind of money used by people in a group who share commonalities and mutual trust and are not limited by their countrys economic politics and mismanagement. These types of currencies have a significant positive influence in developing countries in particular.The indication is thattraditional banknotes, currencies and transactionswill one day disappear. It is merely a matter of time, because it is not supported by the younger generations. Currencies and physical money will die out together with their current fan base.Author: Soulaima Gourani, Public Speaker, Author, Board Member and Adviser, Tradeconductor.com, Denmark, Young Global LeaderImage:Some of Bitcoin enthusiast Mike Caldwells coins and paper vouchers, often called paper wallets, are pictured at his office in this photo illustration in Sandy, Utah, January 31, 2014.REUTERS/Jim UrquhartWritten by Soulaima Gourani, Public Speaker, Tradeconductor.com The views expressed in this article are those of the author alone and not the World Economic Forum.

Advertisement Sponsored post: How Regulation Will Unlock A New Crypto-Boom by Meredith Taylor Mar 1, 2018 - 9:10 AM CDT 0 Comments Tweet Share Post Sponsored by Regulation is quickly becoming a hot topic in the crypto-world. The unregulated, Wild West environment of the crypto market left investors wide open to fraudsters, scammers, and shady firms out to make a quick buck. Advertisement The technology of blockchain and Bitcoin is here to stay. But to bring value to investors, its going to need tighter rules and more responsible companies with their eyes on the future. The crypto market, worth $450 billion, wont disappear overnight. The next step will be figuring out how to establish rules, expectations and regulations for making the market work smoothly. And one company is positioned to meet that need: Hashchain Technology Inc. (TSX:KASH.V; OTC:HSSHF) This is a blockchain company that can do it all: mine coins, diversify investment in a variety of different crypto-currencies, and navigate the crypto marketplace. But KASH is going a step further: its working on proprietary methods and new technologies to make compliance with new regulations easier. At a time when state agencies are cracking down on the free-for-all within the crypto world, KASH is set to making earnings from crypto-currencies regulation. Heres five reasons to take a strong look at Hashchain Technology Inc.: #1 Order to Chaos Last year, Bitcoin and blockchain was on everyones mind. The value of crypto-currencies was shooting through the roof, and everyone wanted in on the action. Major papers ran multiple stories trying to explain what cryptos were, how the blockchain worked to facilitate crypto transactions without middle-men, and investors were offered dozens of opportunities to buy into new cryptos through initial coin offerings (ICOs). Now, the view is a bit different. Governments, banks and investors are all worried that the frenzy over Bitcoin and other cryptos was fed by fraud. South Korea and China began considering bans on crypto mining, which is immensely energy-intensive and difficult to monitor. South Korea specifically wants to start licensing crypto-currency exchanges to bring trading under closer surveillance, in order to prevent fraud. Authorities in the U.S. are worried about crypto-currencies being used to launder money, and want investors to start ponying up their taxes. The crypto-currency Bitcoin has been accused of acting as a Ponzi scheme. Coinbase, the popular crypto market hub, has even been subpoenaed by the IRS to get information on its customers. Both political parties have now called for tighter crypto regulations. While a full ban on mining isnt being seriously considered, its certain that the crypto marketplace is going to come under greater control in the coming months and years. #2 The KASH Way Hashchain Technology Inc is ready. The company sees regulation of crypto-currency as the logical next step for the industry, and its taking steps to meet the new business conditions. The company, which began as a crypto-currency miner, has acquired the assets of Node40, a blockchain technology and accounting software firm, for $8 million and stock consideration. The acquisition indicates KASH (TSX:KASH.V; OTC:HSSHF) is diversifying beyond its mining strategy. The Node40 software, called Balance, reports transactions from major crypto-currency exchanges. Individuals on the blockchain trigger taxable events when they buy and sell crypto, but until now, no one was charting these events in a way that ensured regulatory transparency. The potential for fraud was huge. With Balance at its disposal, KASH is providing tools to investors and regulators to account for transactions, providing up-to-date information on the crypto marketplace. The acquisition of the NODE40 Business, said CEO Patrick Gray in the companys press release, is an important next step of creating a global blockchain technology company. Regulation is the companys niche, and its what makes KASH different from everyone else, Gray told Oilprice.com. #3 Mining for Crypto Gold Outside of its new approach to crypto regulation compliance, KASH (TSX:KASH.V; OTC:HSSHF) is a mining company with a fresh approach to the crypto marketplace. The company currently has 870 rigs, with further acquisitions set to bring KASH to a total of 8.4 MW of crypto-currency mining capacity by the end of Q2 of this year. What does it mean to mine bitcoin? Well, companies like KASH use massive amounts of computer processing power to verify bitcoin transactions, and gets paid in new coins which can then be bought and sold on the crypto market. Even with the booms and busts in the price of Bitcoin, the profits from crypto mining can be immense. Where gold mining only yielded an 11 percent return last year, investment in certain crypto-currencies can yield returns as high as 20,000 percent. And KASH doesnt put its eggs all in one basket. The company plans to diversify its crypto-mining operation, from the major coins like Bitcoin, Dash and Ethereum to a host of smaller coins, which have the potential to bring significant returns. That means that KASH can profit from the market, regardless of the ups and downs, and as mining difficulty increases for any particular crypto, the company plans to maximize profits by shifting its mining power to different types of crypto-coins. When KASH scales up from its humble beginnings, it has plans to be one of the biggest crypto mines in the business. And its close appreciation of regulation means itll be in an excellent position to work with government agencies who may start cracking down on the more undisciplined crypto firms. With a small market cap, KASH could be set expand quickly. #4 Quality Leadership Hashchain Technology Inc. (TSX:KASH.V; OTC:HSSHF)has a solid leadership team that will guide it through the transition in the crypto marketplace. CEO Patrick Gray has already achieved tech success: his first start-up was sold to Xerox for $220 million. He was a recipient of Business Reviews 40 Under 40 award and hes raised millions in start-up capital from investors. Behind Gray, who provides the strategic vision for the company, theres CTO Sean Ryan, co-founder of NODE40 and a blockchain expert. CCO George E. Kveton is a lifelong dealmaker with 20 years of experience in Fortune 500 companies. Hes signed deals in Israel, China and Silicon Valley. The team at KASH arent the millennial millionaires who caught the medias attention when Bitcoin took off last year these are professional tech innovators, blockchain specialists and crypto-currency insiders who are taking the crypto revolution to the next stage, and are doing so in a responsible way. #5 The Next Stage in Currency Evolution While the price of Bitcoin may have dipped, the crypto-currency revolution has only just begun. Investors learned that crypto-currencies are super volatile, prone to dramatic booms and busts, and offer plenty of opportunity for fraud. But that hasnt stopped innovators from continuing to develop the market. Branded corporate coins are starting to take off, and blockchain technology has been introduced in real estate, banking and shipping. There are signs that even Wall Street is taking crypto-currencies more seriously. The price of Bitcoin, which sank below $6,000, has now jumped back above $10,000, suggesting that interest is still very strong. Regulation wont kill cryptos. Instead, it will make them more reliable and more secure from fraud. KASH (TSX:KASH.V; OTC:HSSHF) is ready to take advantage of the need for order in the crypto market. The companys acquisition of Node40 means its positioning itself on the forefront of the regulatory swing in the crypto market, and the companys mining vision truly sets it aside from the competition. KASH is prepared for the next phase, and investors should take notice. Other companies looking to revolutionize their industries: **IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY** Forward-Looking Information Certain disclosure in this release, including statements regarding the performance of the Companys current and ordered Rigs, and expectations regarding future operations may constitute forward-looking statements. These include that KASH will dramatically increase operations, that the 5,000 Rigs will be successfully ordered and delivered, the 5,000 Rigs will perform as expected by management and the timing, installation and performance of KASHs current and ordered Rigs will be consistent with managements expectations; that mining capacity will increase to 8.7 MW; that KASH will utilize its committed Montana facility space and increase capacity to mine 20 MW; that KASH will hold a diverse portfolio of cryptocurrencies through mining and otherwise; and that KASHs software can become part of a regulatory push for regulation of cryptocurrencies. The forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors may include, among others, the risk that the 5,000 Rigs will not be successfully ordered or delivered from the manufacturer or, if delivered, not when expected by management, and the risk that the Companys current and ordered Rigs will not perform as expected by management or that expected capacity is not achieved; that KASH may not earn cryptocurrencies through mining and may not be able to purchase them; risks related to changes in cryptocurrency prices, and the profitability of mining them; that cryptocurrencies will not increase in use as expected; the under-estimation of personnel and operating costs; that KASH will not receive required regulatory approvals for building new facilities, using power, or other aspects of its business; that cryptocurrency regulators dont accept KASHs accounting and other solutions; the availability of necessary financing; permitting of businesses that KASH intends to invest in; general global markets and economic conditions; uninsurable risks; risks associated with currency and cryptocurrency fluctuations; risks associated with competition offering better or cheaper solutions, attracting away employees or using tactics to drive out competition; risks associated with changes in the financial auditing and corporate governance standards applicable to cryptocurrencies; risks related to potential conflicts of interest; the reliance on key personnel; capitalization and liquidity risks including the risk that the financings necessary to fund continued development of KASHs business plan may not be available on satisfactory terms, or at all; the risk of dilution through the issuance of additional common shares of KASH; the risk of litigation; the risk that KASHs management and advisors may not contribute as much as expected to the companys success; the risk and the risk that cyber-crime may severely damage the value of any or all of KASHs investments. There may be many other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. DISCLAIMERS PAID ADVERTISEMENT.This communication is not a recommendation to buy or sell securities. This communication is for entertainment purposes only. Never invest purely based on our communication. Gains mentioned in our newsletter and on our website may be based on end-of- day or intraday data. In most cases we are paid by the issuer or a third party to profile the issuer. In this case, Hashchain Technology Inc. (KASH) is paying to Safehaven.com eighty thousand US dollars for this article and certain banner ads. We have not investigated the background of KASH. The third party, profiled company, or their affiliates may liquidate shares of the profiled company at or near the time you receive this communication, which has the potential to hurt share prices. 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