Tuesday, June 25, 2019

Nouriel Roubini Says Facebook coin in not something from crypto world.

This is coming as a major shock to many and this is expected to surprise. It is a very strong statement that is made. Nouriel Roubini who is a very famous economist and crypto currency expert has given this opinion and it cannot be taken lightly at all. This is something that is very serious remark. As he say that this currency is not decentralized which should be the case with crypto currency and that is the main reason this has got nothing to do with Global Coin.

  • Global coin not crypto currency as per Nouriel Roubini
  • Global coin not based on block chain
He is also known as Dr doom and says that is facebook coin completely centralised and controlled, which defeats the purpose of having the crypto currency. This facebook coin has got a big support from lots of global companies and this promises growth. There is a huge investment of $10 billion done by master, visa, PayPal and others. So this has got huge backing and that is expected to grow leaps and bounds.

He also said that it is not sure that facebook coin is going to make use of common block chain technologies. He says why they will and is not a big fan of this at all. This is not a system that is based on the the principals of block chain technologies. He also said that this is not crypto faithful.
Read More

Ripple in a major partnership with MoneyGram - Changing the way ripple works

Cryptocurrency Ripple on Monday came up Money Gram, this looks to be a very good partnership and will boost usage of ripple.

  • Ripple and money gram good for growth of ripple.
  • Ripple picking up a stake in money gram
The usage of this particular crypto currency is one the rise. One should keep this in mind, that ripple will pay $4.10 cents to acquire in single share in money gram. This is partnership which can really improve the share of ripple in the market and fuel its growth substantially.

This will come to an investment of about $30 million and also an option of infusing $20 million cash in the 2 years. This investment is going to help ripple grow and compete with other crypto currencies. With many crypto currencies in the market ripple was losing its sheen and with this investment it is expected to catch up with others quickly.

Ripple is growing fast and this is great opportunity to go up further in comparison to other crypto currencies. Ripple is something superior if one wants to move money across borders and this can happen very easy with a product called X-Rapid. This is help in overcoming the use of foreign bank accounts. And help the customers in smooth transitions of the working capital. Ripples investment comes in after western union cancelled its alliance with XRapid, as they though it was not fruitful.
Read More

What Is EOS?

Folks who have kept an eye on the cryptocurrency ecosystem over the past few weeks would have noticed that the EOS project has turned to be of great interest. At the same time, there seems to be some uncertainty as to what makes this project and its native token relevant at its present stage. For a project claiming to be the most effective infrastructure for decentralized applications, the expectations are undoubtedly enormous. Whether or not the team can deliver on this vision in the hope is impossible to foretell right now.

A Summary of the EOS Project

For those who are oblivious to what EOS has to offer, now is an excellent time to examine this project a bit further. First and foremost, EOS places itself as the most robust infrastructure in existence for decentralized applications. Ever since Ethereum got a lot of attention, the DApps ecosystem has suddenly become a lot more familiar. There are a lot of various applications to be developed on top of blockchain technology, as we have yet to explore what this technology is accurately fitted for. With more developers focusing on the blockchain, things are bound to get a lot more interesting in the future.

How EOS will fit into all of this remains to be determined. The team is presently focused on the critical pillars of blockchain which most other cryptocurrencies seem to be grappling with right now. Scalability, for example, is very hard to come by in the world of cryptocurrency these days. There are very few currencies which have a comparatively steady network in this regard, let alone one that is future-proof. EOS wants to back thousands of commercial-scale DApps in the future, which can be said to be quite ambitious.

For such a platform to work efficiently, there will need to be parallel execution, asynchronous communication, and authentication separated from implementation. Checking all of those boxes will not be an easy task, even for the EOS team.

Furthermore, according to its whitepaper, EOS will also provide flexibility, which is something current blockchain solutions seem to be struggling with.

Finally, projects like these will stand or fall based on their usability. EOS is working on open interfaces, database schemes, and permissions schemes. Furthermore, they have a web toolkit for interface development, which will assuredly attract a lot of positive attention in the future. One has to keep in mind that all of this is still in the very primitive stages of development, and there is still plenty of work to be done before EOS can start to flex its proverbial muscles.

EOS also set an impressive model when it came to its token sale. More specifically, the team decided not to employ a predetermined price but used a market demand-based price (a smart move I must say). Presently, the value of EOS is skyrocketing, and it is unlikely that this situation will change anytime soon. Users can still buy EOS tokens as of right now, assuming they are not from the US and agree to the entire investment compliance. It is worth going over all of these aspects correctly, as there could always be some conflicting statements which can confuse.

With an ICO distribution spanning through 341 days, it is apparent that EOS is not your average project. Whether or not the team’s approach will be considered to have been a smart move is anybody’s guess. It is evident that there are a ton of tokens being bought and sold right now. If this trend keeps up, the company will sell off all of their 1 billion EOS before the distribution phase is over. With a current price of over $10.4366 per token, the company has high expectations to live up to in the future.
Read More

Cryptocurrency Market Correction

All the strong top 20 cryptocurrencies by market capitalization are all down today over 10 percent, market data reveals.According to CoinMarketCap.com, those cryptocurrencies have fallen by at least 13% – and more than 25% in the case of XRP – which began at the start of the day. At a point, within the 24-hour period, the overall market capitalization for all tokens had lost approximately $200 billion, falling from $710 billion to $536 billion at its most profound.

As of the period, this article was drafted, that figure had sprung back somewhat, floating around $573 billion.

The dip illustrates the commotion in cryptocurrency markets today, with bitcoin, the world’s largest cryptocurrency by market cap, which dipped by 14 percent in 24 hours, bottoming out at $11,182 before making a slight recovery.

Indeed, only several of the 100 cryptocurrencies listed on CoinMarketCap’s main page are reporting price gains, with assets like siacoin and Bitcoin Gold reporting losses of over 30% in the past 24 hours.

On the lighter side, today’s market correction is not as drastic as the one that occurred in late December last year, when the overall market value fell more than $200 billion. At that time, bitcoin had dropped to $10,800.

Moreover, today’s dip still leaves the market well up year on year. On Jan. 16, 2017 the merged value of all crypto tokens was under $16 billion. Today’s low is roughly at similar levels to those seen a month ago, when the market cap stood at around $554 billion, according to CoinMarketCap.
Read More

Bitconnect Faces Lawsuit

A complaint has been filed by James Gurry, Ronald Nelson, Francisco Doria, Aric Harold, Akiva Katz, and Charles Wildes with the Southern District Court of Florida, and is made on account of all Bitconnect customers, in addition to the plaintiffs as mentioned earlier individually.

The suit has been instituted against all three corporate entities comprising the Bitconnect company, in addition to defendants “Glenn Arcaro, Trevon Brown (Trevon James), Ryan Hildreth, Craig Grant, and Cryptonick? – who are accused of aggressively recruiting new investors into the Ponzi scheme using the power of social media.

The preceding statement of the complaint reports Bitconnect as having raised “millions of dollars’ worth of cryptocurrency? through “a trading platform and lending program fraudulently promoted and managed by? the defendants.

The complaint also states that “Bitconnect guaranteed investors up to a forty percent RIO each month on their investments, following a four-tier investment system based on the sum of the initial deposit.? Investors were “guaranteed a one percent return on investment on a daily basis, which Bitconnect indicated would be generated by its proprietary trading bot and volatility software,? which was to be paid out “regardless of market performance or the fluctuating price of cryptocurrency.? An investment of just one thousand dollars would grow to produce a $50 million revenue within three years of compounding daily interest; the company is reported to have shilled.

The plaintiffs stated that Bitconnect’s former $2.5 billion market capitalization was “built by the use of fraudulent means.? “A wide-reaching Ponzi scheme that defrauded investors made a mockery of state and federal securities laws and employed an army of social media mercenaries who were paid to bring more unsuspecting victims into the fraud.?

Bitconnect’s Lending and Exchange Platform Shuts Down

Bitconnect Faces Lawsuit for Operating “Wide-Reaching Ponzi Scheme” During early January, Bitconnect boasted a market capitalization of more than $2.5 billion. After receiving cease-and-desist notifications from regulators in Texas and North Carolina and an increase in accusations of comprising a Ponzi scam, Bitconnect suddenly announced that it would shut its lending and exchange platform – leaving many Bitconnect token-holders unable to liquidate their assets, the value of which rapidly depreciated by over $95%.

Despite the turmoil, BCC tokens are refusing to die, with many investors seeking to offload their BCC tokens in exchange for BCCX – a token soon to be launched by the company through an initial coin offering. As a consequence, somehow, BCC has a market capitalization of more than $100 million dollars and has witnessed nearly $5.5 million worth of trading during the last 24 hours, according to Coinmarketcap.
Read More

The Year Blockchain, AI and IoT Converge

2017 will be known as the year that cryptocurrency went mainstream. But what’s even more interesting to many of us who have been investing in the area for the past several years is the evolution of the underlying juicy technology.

Blockchain technology, which is known to power most cryptocurrencies, is in its primitive stages. In 2017, we began to see some early proof points of how this new support can be used, including the statement by the Australian Securities Exchange that it would replace its current post-trade settlement process with a blockchain system, after running both coextensively.

This reminds us of the process large enterprises had to go through in the late 1990s and early 2000s as they migrated from client-server software to web-based software, moving their supply chain and procurement processes online. They carried out an extensive return on investment (ROI) studies to verify the upfront cost of replacing current systems. Twenty years later, the ROI became obvious, but many companies viewed the risk as significant at that time.

I firmly believe that we’ll continue to see more substantial companies across more industries in 2018 as we take a look at how blockchain technology can conceive effectiveness (and potentially model new business ideas in the future).

When Future\Perfect Ventures was launched in 2014 around the thesis of decentralization, we were most excited about the blend of blockchain with other emerging technologies, including machine learning/AI, security, and (IoT) internet of things. In this way, we expect that 2018 will be the year that we start to see the convergence of these technologies to create the decentralized computing and communications platforms of the foreseen future.

Decentralization with its very nature demands that more intelligence shifts to nodes rather than residing in one central server. We will continue to see the very evolution of semiconductors that are capable of advanced computing in smaller and miniature devices. As the machines at the edge become smarter, the smart contracts authorized by blockchain platforms will work better with more sophisticated data analytics abilities.

We will be seeing a mini-brain in each of our devices, ranging from simplistic ones to ones capable of processing more massive datasets and making judgments based on the forage data.

The open availability of more data and intelligent processing at the nodes will enable broader datasets available to more companies and people, instead of exclusive data ownership that currently exists within companies such as Facebook and Google. More importantly, that data will be diverse and representative of the world we live in, instead of being filtered by a few companies that reside in one geography.

While this may not all happen within the next year, we have started an inevitable march towards that future, one that will be even more transformative than the internet was.
Read More

DNA Data Marketplace on the Blockchain

By now, everyone knows that data is huge money, and corporations such as Google and Facebook have milked billions out of your personal information. But Medical and genetic data are worth even much more, and companies may be profiting from it whenever you take a genetic test. The solution in giving people back control over their genetic and DNA data is the blockchain.

According to reports, consumer genetic examination saw an unprecedented public demand last year. Firms, such as AncestryDNA, carried out an estimated 10 million tests on individuals. While they charge for these tests, the real value lies in the genetic and DNA data which can be sold on to third-party medical companies.

Genome Demand

There is a growing demand for genome data and research which brings about a conflict between individuals, corporations, and medical facilities. The solution lies in a decentralized blockchain and crypto token that aids the encrypted exchange of medical and genetic data. It is a fledgling industry, luring some startups eager to employ blockchain technology to innovate solutions.

A program called Encrypgen, allows users to upload and securely store genomic data for up to five family members. This information can later be shared with their doctor after permission has been granted. Sequencing providers on the private blockchain can be used, or customers can upload their DNA from third-party providers. Users can get notifications when a third party is interested in purchasing some of their genomic data. The transaction will be facilitated with DNA crypto tokens and recorded on the public ledger.

Crypto Genetics

Different companies are joining this embryonic industry with platforms of their own. Zenome employs the use of nodes on a network of private computers to execute a shared approach to genetic analysis. The data is fragmented and encrypted to deter theft and can be uploaded for no charge initially. Protected storage and a free report about your health and origin will be provided in return. Users can decide whether to sell off any of their own data using the firm’s own crypto token, ZEN.

Luna DNA has a somewhat distinctive approach, enabling users to upload their data for health research purposes in exchange for some Luna Coin. The depersonalized data can be purchased by research academies and pharmaceutical companies. Precise genome testing will only be implemented with the user’s consent.

It is not easy setting a dollar value on the human genome, so only time will tell if these innovative, blockchain approaches to genetic data trading will pay off for individuals.

Would you want to sell your genetic data on the blockchain? Let us know in the comments below.
Read More