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‘GAME Changer’ Announced at Coinsbank Blockchain Summit in Turkey

Source: bitcoin

coinsbank

The beautiful setting of the Mediterranean Sea on the Turkish Riviera welcomed some of the brightest minds in blockchain to the Coinsbank Summit. These industry leaders made major announcements, including a new gaming platform that utilizes expanded capabilities and in-game integration for cryptocurrency.

Also read: Industry Report: Is the End of Bitcoin Near?
When Ronny Boesing, CEO of Coinsbank, decided to have a “Blockchain Party” of some of the brightest minds in the blockchain industry, he wanted to do it in the comfort and beauty of a place where these people could share, think and network together.  This international roster came together last week (October 6-9, 2016) in Belek, Turkey and I was fortunate enough to be part of this group, and heard some big announcements from this formidable roster of blockchain thinkers and doers.

Big Industry Announcements at Coinsbank Summit

The “party” was organized by Coinsbank, which continues to grow at a feverish pace into what Boesing calls, “the new bank on the block.”  It’s clear that Coinsbank is not just interested in being a typical bitcoin wallet company, but is instead focused on offering many banking services to its customers worldwide. These services include not only a “new type of safe wallet with multi-signature hardware,” as Boesing calls it, but will provide lending services from the cryptocurrency holdings in clients’ wallets.

Other speakers attended, including Nick Ayton from SmartLedger Labs.

Ayton discussed his approach to implementing blockchain based solutions for financial institutions, where he feels innovation in this area can significantly change existing processes models and create large savings.  He particularly sees an opportunity to disrupt and improve the model for insurance product processes and pricing with blockchain technology.

Marco Streng, CEO of Genesis Mining, gave a well-detailed update on the state of crypto mining.  Streng’s company has been a leader in the area of involving individual investors to financially benefit from mining operations. He also discussed his new offering, called the Logos Fund, which has been registered with the SEC and is available for appropriate investors (minimum of $25,000).

Sergey Sholom, CEO of Datcroft, a leading gaming company gave a detailed presentation on the state of the gaming industry today.  Some of these issues involve the severe limitations that developers face including on-ramping of their funds, the severe revenue surcharges from Google and Apple to developers and a generally highly competitive environment that suppresses monetization.

Along with Nebojša Maksimović (call him Nele), Chairman of GameCredits, Sholom made a significant announcement that their joint company will integrate the cryptocurrency GAME into the fabric of games to address these issues.

Sholom pointed out that the intent was not to provide just another use of cryptocurrencies, but to ultimately provide a solution to the gaming industry that is truly different and unique in the industry, which is projected to hit over $100 billion of revenue next year.

Both saw this as a way to integrate the growing world of cryptocurrencies with a successful and growing base of games (Sholom’s company, Datcroft has over 10 million players) that will create a platform that benefits both gamers and developers.

They were very excited about the opportunity for this to not only expand the utility of the GAME coin (which has been around for a few years) but to provide an opportunity for gamers and developers to recognize the benefits of cryptocurrency as a way to build wealth and show their ability to provide a better experience for everyone.

The growth of Coinsbank continues and next year they plan on having the next CoinsBank Blockchain Party on a cruise ship in a body of water to be named later, in May, 2017.  Boesing hopes to see more leading Blockchain movers and shakers at that one, including any who may have missed this year’s festivities.

What do you think?  How can cryptocurrencies help the gaming industry?


Images courtesy of Coinsbank, International Bellhop.

The post ‘GAME Changer’ Announced at Coinsbank Blockchain Summit in Turkey appeared first on Bitcoinist.net.

‘GAME Changer’ Announced at Coinsbank Blockchain Summit in Turkey

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Further Economic Woes In Turkey Create Bitcoin Opportunities

Source: bitcoin

Bitcoinist_Turkey Economy

Financial trouble continues to brew in Turkey, as the economy minister was not overly confident when discussing the situation in the country. The central bank is expected to continue cutting its lending rate. Now that PayPal has also left the scene in Turkey, Bitcoin can start gaining popularity in the region.

Also read: ownCloud Inc. Closes Doors Following NextCloud Announcement

Although many people in Turkey expected the country to see financial growth later this year, the current projects do not seem to agree. With more lending rate cuts by the Central Bank of Turkey on the horizon, things are looking bleaker than anticipated. If this were to happen, it would be the fourth straight month of cuts in the country.

Financial Situation In Turkey is Evolving

Despite that forecast, Turkish Economy Minister Nihat Zeybekci is confident the country is on the right track to achieve its growth. Moreover, there is a plan on the table to reach a year-end inflation rate of 7.5%. A lot of that success will hinge on exporting goods from Turkey to other countries, though.

Declines in export have already caused a correction for the 2016 projections. It was initially assumed Turkey would see US$155.5bn in export in 2016, but that target has been cut back to US$150 billion. The first half of 2016 was not on par with expectations, although the numbers were not terrible either.

Part of this export will hinge on how consumers can pay for goods coming from Turkey. Online shopping is becoming more important than ever to consumers all over the world. Paypal is one of the most common payment solutions in the e-commerce sector these days.

Unfortunately for Turkish retailers, PayPal is no longer a payment option in the country. The company had to withdraw after being unable to renew its operating license. It is expected this news will have an impact on the export figures as well, although it would only affect consumer purchases, rather than the corporate side of things.

Bitcoin is a more than viable alternative to PayPal in Turkey, though. Bitwala is even offering completely free Bitcoin debit cards to Turkish citizens for a limited time. The country has come to a crossroads where consumers may start looking for payment alternatives. Bitcoin presents an excellent case and solution, which is very cheap to use as well.

What are your thoughts on the economic situation in Turkey? Let us know in the comments below!

Source: Reuters

Images courtesy of Shutterstock, PayPal

The post Further Economic Woes In Turkey Create Bitcoin Opportunities appeared first on Bitcoinist.net.

Further Economic Woes In Turkey Create Bitcoin Opportunities

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