Čvc 09

IOTA Smart City Project Granted €20 Million in EU Funding

The +CityxChange consortium, which includes the IOTA Foundation, has won a bid to lead a new smart city lighthouse project under an EU research and innovation program. A total of €30 million euros worth of backing has been committed, the majority from the EU, for seven EU cities to experiment with smart positive energy innovations.


A total of 25 enterprises and organizations, including distributed ledger technology innovator IOTA, form the +CityxChange consortium. The group, which will be led by the Norwegian University of Science and Technology (NTNU) in the project, competed against 11 other proposals to become the lighthouse project for developing energy independent cities.

Blockchain Technology to Improve Quality of Life in European Cities

Over the next five years, the European cities of Trondheim, Limerick, Alba Iulia, Pisek, Sestao, Smolyan, and Voru will experiment with using digital services, including blockchain and peer-to-peer technology, to improve quality of life and generate more energy than they consume. Their experiences will be shared with cities across Europe to continue the wider development of the smart city ethos.

The funding of €20 million euros will be provided by the European Research and Innovation program Horizon 2020. Some of the project partners will add €10 million euros of “in-kind” efforts towards local implementation of demonstration projects in Trondheim and Limerick.

The +CityxChange project was commended by independent experts for showing that it will contribute to the wider roll-out of “Positive Energy Districts” across Europe.

The energy solutions proposed will include local governments and residents “involving the entire district energy value chain, extending to high-level policymakers and cities, universities, large enterprises, distributed network operators, SMEs, and not for profit organizations.”

Aligned with IOTA

Aligned with IOTA

Describing the project as “100% aligned” with the IOTA Foundation’s DNA and an ambitious open innovation, Wilfried Pimenta, Head of Business Development at the IOTA Foundation said:

Smart cities is one of the fastest growing cross-sectorial arenas of innovation for IOTA. Building on our work and partnerships across mobility, energy or data marketplace, these smart city ecosystems bring it all together.

The Norwegian co-founder of the IOTA Foundation David Sønstebø is excited about the project and to be working with Norway’s largest university NTNU:

Being able to explore and demonstrate the utility of IOTA within the smart city context in numerous cities across Europe will be incredibly valuable going forward.

The enterprises, universities, and not-for-profits involved include:

IES R&D, Powel AS, University of Limerick, Energy Agency of Plovdiv, Future Analytics Consulting, Research2Market Solutions, ISOCARP, TrønderEnergi Kraft AS, ABB Norway, ATB, AVIS Budget Group, Statkraft Varme AS, ESB Innovation RoI Ltd, ESB Networks, Ove Arup & Partners SAU, FourC AS, R.Kjeldsberg, Smart MPower, Space Engagers, Colaborativa, Officinae Verdi, NHP Eiendom, and GKinetic Energy Ltd.

+CityxChange aims to help the cities involved in the project achieve their goal of sustainability, with zero emissions, and 100% renewable energy by 2050.

Do you think fully sustainable city ecosystems are possible? Can blockchain and distributed ledger technology help to achieve this?


Images courtesy of AdobeStock

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Čvn 17

Keplertek: Special Sale Due to Incredible Demand (June 19th-June 21st)

· June 16, 2018 · 10:00 pm

How do you feel about a future that is fueled by the constant drive of wanting to achieve true greatness, by helping mankind in all aspects of life? If this sounds like something you see happening or want to see in the near future, Keplertek is the right project for you. The unprecedented combination of the up-and-coming industries of Robotics, AI, and the Blockchain will change the world in ways we cannot yet imagine! 


Due to very high demand for KEP during all stages of the Pre-ICO, Keplertek decided to give the cryptocurrency community one more opportunity to participate before the start of the initial coin offering.

The Special Sale will start on the 19th of June 2018 at 8 PM UTC+4 and conclude on the 21st of June 2018 (8 PM UTC+4), giving investors exactly 48 hours and one last chance to take advantage of the generous 30 percent bonus offered during Pre-Sale.

Should you have reserved tokens before the Pre-Sale but missed out on your purchase due to not triggering the reservations in time, worry not — all previous reservations are still active during this stage and are waiting to be triggered!

The centerpiece of Keplertek’s innovative project is Kepler Universe, a platform that will make it possible for tech and financial geniuses from all around the world to connect and work on the technology of tomorrow.

The sad truth is that there are so many talented people with life-changing ideas and the potential to change the world, but most of them are never realized due to a lack of funding, experience, or infrastructure. By providing this infrastructure, Kepler will change the way we view technology and how we approach fundraising, as well as teambuilding, worldwide. Leave behind the outdated boundaries set by the biggest players in the field and join the revolution.

After selling out all tokens assigned to the Pre-Sale within the first week (2 weeks ahead of schedule), Kepler’s team, consisting of over 50 brilliant minds (with 100 additional international members), is working hard to prepare for its ICO and to ensure the smooth launch of KEP and Kepler Universe.

The ICO will start on June 26th, offering a 20 percent bonus during the first stage, decreasing to 10, 5, and eventually 0 percent. KEP will then hit major exchanges right afterward and have the alpha version of Kepler Universe ready by Q3 of 2018.

Take your future into your own hands and seize the opportunity to get involved with the best project out there on the ground floor. Complete KYC and get ready for June 17th, it WILL pay off – don’t let this be another missed opportunity and reap the rewards of your early discovery!

Also, don’t wait until the last minute, it only took 24 hours for Kepler to sell 400.000 tokens during Pre-Sale. Join the Special Sale and make a revolutionary investment into a limitless future, from which we will all one-day benefit!

For more information visit www.keplertek.org and the following links:

Whitepaper: https://www.keplertek.org/v2/WP.pdf
Facebook: https://www.facebook.com/Keplertek/
Twitter: https://twitter.com/KeplerTek
Instagram: http://instagram.com/kepler.tek
Linkedin: https://www.linkedin.com/company/keplertektechnologies/
Medium: https://medium.com/@KeplerTek
Telegram: https://t.me/KeplerTechnologies

What do you think about Keplertek? Let us know in the comments below!


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Čvn 15

What Does the Future of ICO Advertising Look Like?

· June 14, 2018 · 10:00 pm

Due to the notorious volatility and unregulated nature of cryptocurrencies, many organizations and even governments are jumping on the bandwagon to ban them.


As we move further into 2018, even the big tech firms are starting to put their foot down on crypto advertising. Such a huge widespread ban has the potential to severely hinder the future development of the crypto industry.

Google and Facebook Have Banned ICO Advertisements

Some of the Internet’s largest advertising platforms, including Facebook, Twitter, and YouTube, have completely banned any advertisements promoting ICOs and cryptocurrencies.

As of June, even Google will be banning the advertisement of crypto – including ICOs, wallets, and exchanges, etc.

 There has been a lot of speculation as to why this has happened. Some speculate that it is merely an attempt to protect their users (and their reputation) from fraudulent ICO and token scams and Ponzi schemes, while others have even suggested that these websites could be feeling threatened by the increasing popularity of blockchain technology.

But regardless of the reasons behind these bans, one thing is becoming clear – ICO marketing has become increasingly difficult.

 ICOs Are Looking for New Ways to Gain Exposure

As it stands, some of the main ways to promote ICOs include:

  •  Going on a roadshow and speaking at conferences to elicit interest, growing a brand and being exposed to potential investors.
  •  Ordering press releases and getting them published on popular websites that are frequented by crypto enthusiasts.
  •  Joining in discussions on popular social media websites – such as Facebook groups, Reddit, Telegram, Quora, LinkedIn groups, and specialized forums.

If you really want to succeed, it’s likely you’re going to have to leverage all of these methods and more.

Hopefully, after a while – if your offer is good enough – your idea will spread among users through word of mouth and you’ll be able to tone down your efforts slightly. But until then, you need to work hard to get your message out.

Can Decentralized Platforms Be A Powerful Channel to Promote ICOs?

One up-and-coming blockchain platform, known as 2Key, is introducing a brand-new model that rewards users for sharing valuable information.

It might just be the new go-to platform for blockchain startups looking to gain exposure.

2Key is a decentralized global referral network. Its goal is to become the go-to platform used to share information about products, services, and events. The platform encourages the free-flow of valuable information through human referral chains.

This is made possible through the platform’s Multi-Step tracking technology that makes it possible to track and reward every user involved in the link-sharing chains.

Using this technology, anyone can easily create their own referral link based on a smart contract, define their goal (such as more exposure, leads, or sales), and incentivize the human network to share this message to achieve it.

It even incentivizes users to share beneficial information by directly rewarding them with tokens.

As time progresses and 2Key continues to develop, the platform could become the go-to solution that ICO organizers choose instead of running bounties for their users.

 Another platform that’s built a lot of momentum is Wings.AI.

While the core functionality is to forecast and predict the amount an upcoming ICO is going to raise, the benefit Wings can bring to the table is ICO discovery and word-to-mouth buzz marketing.

The Wings community is comprised of crypto enthusiasts and investors that are constantly seeking new projects to evaluate. Through the Wings platform, users are exposed to new projects on a weekly basis, and they are required to run due diligence evaluate the project and share their findings on social media and on the Wings platform.

In some cases, this can create a network effect, where thousands of people engage with a project, ask questions, provide feedback and discuss it with each other.

How Are Users Rewarded?

With 2Key’s case, the platform features its own multi-party state channels protocol. This allows links to automatically perform self-tracking and information sharing as they are distributed.

This enables 2Key’s smart contracts to automatically reward the entire chain whenever a result is achieved.

Users will be rewarded with the 2Key Ethereum utility tokens in return for successfully referring other users. These tokens can be exchanged or used to purchase other services within the network.

With Wings.AI, users are rewarded in tokens based on how accurate their predictions were.

This incentivizes users to run a good due diligence, improve their rating on the Wings platform and grow their reputation.

 The Future of Advertising

There are a huge number of predictions about how advertising will change in the future that can be applied to the ICO industry.

Perhaps one of the biggest changes we will witness is the ever-increasing personalization of advertising.

Long gone are the days when the best way to advertise was to put up a massive banner advert in the middle of the city center that would attract the attention of everyone who passed by.

In today’s society, the best advertising is that which is highly targeted. A study by Rocket Fuel revealed that 80% of Millennials see value in brands engaging them with personalized offers.

Platforms like 2Key that are part of the moment shifting advertising away from the hands of big brands, back into the control of the human network, could act as a major catalyst for changing the future of advertising.


Images courtesy of 2Key, Wings.ai, AdobeStock

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Čvn 14

‘Leonardo da Vinci’ Puts Mona Lisa Painting on the Blockchain

· June 13, 2018 · 11:00 pm

Bitcoin core developer Peter Todd defended Blockchain art startup Verisart against Terence Eden June 13 after claims the company believed he had painted the Mona Lisa.


‘Obvious Fraud’

In a Twitter discussion, Todd alleged Eden, who currently runs Open Standards for the UK Government Digital Service (GDS), “misunderstood what Verisart is” after the company uploaded the famous painting to the Blockchain with Eden as the creator.

Verisart began trading in 2015 and describes itself as “applying blockchain technology to combine transparency, anonymity and security to protect your records of creation and ownership.”

“Verisart is a tool to collect and timestamp evidence, not an authoritative blockchain; his Mona Lisa claim is obvious fraud [without] evidence,” Todd wrote.

Eden had originally published details of his experiment with Verisart in a blog post June 12.

Allegedly, Verisart had required only “an email address” and “a photo of the Mona Lisa from Wikipedia” as “proof” he had painted it.

“I don’t understand the blockchain hype,” Eden subsequently wrote on Twitter.

A startup has certified my artwork & placed their verification on the bitcoin blockchain. Now art dealers & auctioneers can feel secure that I am the original artist. One small problem… I am not Leonardo da Vinci!

Blockchain ‘A Big Improvement’

Blockchain’s ability to tighten up the art sales process have formed the focus of a growing number of business initiatives in recent years, with high-profile schemes targeting the upper echelons of the collector world.

Critiquing Eden meanwhile, Todd nonetheless suggested the real value of Blockchain at Verisart lay beyond the benefits Eden claimed did not exist.

“What Verisart’s tech – specifically [open timestamps] – prevented… [Eden] creating backdated evidence. If he tried to forge that evidence, it’d still show up as being created recently, and thus be suspicious,” he continued.

That simple guarantee is a big improvement over the status quo.

What do you think about Terence Eden vs. Verisart? Let us know in the comments section below!


Images courtesy of Shutterstock, Twitter

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Čvn 11

Healthheart / Keyqo Announces New Security Product

· June 10, 2018 · 8:00 pm

On top of a successful rebranding from HealthHeart, Keyqo has announced significant progress towards the release of their new healthcare IT security product.


In a recent update, CEO Mark Rudnitsky, described the product as follows:

For this first phase, we are developing a security monitoring tool, which tracks the transfer of sensitive data within and out of a given clinic’s network. We have a small ‘agent’ that gets installed on each machine on the network. It monitors all traffic coming in and out of that machine. It interfaces with an intrusion-detection system (IDS), which tells it certain ‘patterns’ to look for, which indicate patient data is being compromised. If those patterns are detected by the agent, it will report to a central server with what it found. The server will take those logs, encrypt them, and store the information on a private blockchain (this is a requirement so we’re HIPAA-compliant). So no matter if the machine is compromised by an attacker, the logs can never be modified. There’s a dashboard/admin console that the end user utilizes to see any alerts or indicators of compromise, as well as separate tools for storing customer data, reporting, and billing.

Velvetech, Keyqo’s software development partner, has provided an estimate of Phase One completion in about three months. First to be completed are the IDS and blockchain components, with the agents and dashboard following later.

Blockchain technology

While the original blockchain EHR concept has been temporarily placed on hold, Rudnitsky seems optimistic on the pivot to HCIT security software:

The cost of healthcare data breaches is higher than it’s ever been. Every single record breached can cost an organization $380. The security solutions offered by others clearly aren’t working. So not only do healthcare organizations of all sizes need the blockchain security solutions we’re building, we are also able to benefit them with minimum disruption to their operations. We can integrate with any IT system that a hospital could use. No need for a full EHR migration, no need for system downtime – providers can secure their patient data without even thinking of compromising the quality of care.

The pivot to security seems to be paying off. Several hospital chains reportedly have reached out to Keyqo and the company’s leadership has been developing awareness among Illinois podiatry clinics.

Rudnitsky seems optimistic about the future:

What we’re doing right now in the HCIT space is nothing short of revolutionary. The recent increase in healthcare blockchain companies shows exactly how forward-thinking we were when we started back in September. We’re the vanguard, bringing healthcare IT into the 21st century. The future looks bright for Keyqo.

What are your thoughts on Healthheart / Keyqo’s new direction? How can blockchain help secure healthcare providers’ patient records? Let us know in the comments below.


Images courtesy of AdobeStock, iStockPhoto

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Keplertek: How Robotics and AI on the Blockchain Will Change the Future Forever

· June 9, 2018 · 8:00 pm

Keplertek recently finished its Pre-Sale, thus concluding the final stage of its Pre-ICO. In total, all of the pre-sale tokens sold out within the first seven days — an incredible achievement that the team is understandably proud of. There is more and more talk about this amazing project, and rightfully so — so let’s take a deeper look at what makes Kepler Technologies truly special. 


Robotics and AI on the Blockchain

Robotics and AI are some of the most disruptive technologies in our world – they’re already very real and about to change the world for the better.

Imagine a future that is shaped by the way we interact with technology, and not by the tiring quest of actually getting there – this is where Keplertek comes in.

By combining these three exciting fields of technology and providing the infrastructure needed for geniuses to work on their projects without having to go through the tedious process of fundraising and finding experienced and competent members, Keplertek will enable thousands of interesting projects to be realized instead of drowning in bureaucracy and vanishing forever.

Georgia: Tech Hub of the Future

Georgia is known for being a very tech-friendly country that gives its best to support up-and-coming companies that try to change the world of today by inventing the technology of tomorrow. It’s not only one of the countries with the most miners and mining companies, but also very interested in fostering innovation.

Its geographical proximity to both Europe and Asia is one of the most important and decisive factors in terms of international trade, allowing Keplertek to forge important partnerships throughout the entire world. This is further strengthened by a very accommodating tax policy, seeing as the total tax rate is 16.4 percent (percentage of profits). This allows businesses to flourish and grow organically.

One of the Biggest Teams

One of the Biggest Teams

Keplertek has over 50 employees working around the clock in its Tbilisi office, ensuring the launch of KEP and Kepler Universe will go as smoothly as possible.

With over 100 more team members working from abroad and in R&D, Keplertek is without a doubt one of the (if not THE) biggest projects in the ICO space at the moment.

Strong Social Media Presence

Keplertek has a Telegram group with over 86.000 members and a lot of interesting discussion about the project and the general evolution of cryptocurrencies. It is always possible to get your questions answered by an Admin and partake in activities like quizzes with KEP rewards — strengthening the community even further.

Keplertek is also on Facebook, Twitter, Instagram, and LinkedIn — take a look and get to know the dedicated team behind this project even better!

All in all, Kepler can be considered the most interesting project in the cryptocurrency space at the moment.

Register now to complete KYC and participate in the ICO, starting on June 26th and lasting until July 17th. However, it’s better to hurry – if Pre-Sale is anything to go by, all tokens will be sold considerably sooner!

Don’t miss your chance, get ready to invest in a limitless future and take advantage of the 20 percent bonus on all purchases during the first round of ICO!

For more information visit keplertek.org, and check out the following links:

Whitepaper: https://www.keplertek.org/v2/WP.pdf
Facebook: https://www.facebook.com/Keplertek/
Twitter: https://twitter.com/KeplerTek
Linkedin: https://www.linkedin.com/company/keplertektechnologies/
Medium: https://medium.com/@KeplerTek
Telegram: https://t.me/KeplerTechnologies

What do you think of the Keplertek project? Let us know in the comments below!


Images courtesy of Keplertek, AdobeStock

Bitcoinist does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.

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Čvn 08

PayTabs CEO: ‘Cryptocurrency is Here to Stay’

· June 7, 2018 · 9:00 pm

Plenty of people remain skeptical about cryptocurrency’s future. PayTabs’ CEO, Abdulaziz Al Jouf, is not one of those people. 


‘It is out of their control’

The cryptocurrency market is notoriously volatile and still remains largely unregulated — but that doesn’t mean it should be dismissed as a failed project. According to the CEO of the Saudi-based payment processing and fraud prevention company PayTabs, Abdulaziz Al Jouf, “cryptocurrency is here to stay.”

Al Jouf believes cryptocurrencies will continue to exist and gain popularity, as none of the core problems which originally provoked Bitcoin’s creation — namely, centralization and a lack of transparency in traditional finance — have been solved. He explained to Arabian Business:

There are different dimensions and different directions where this will go. Keep in mind that until today, central banks are trying hard to ban [cryptocurrency] because they feel it is out of [their] control.

If you think back to why cryptocurrency launched, it is because of the massive collapse in 2011… [It aimed] to make sure currencies and money is protected everywhere.

While cryptocurrency is still a long way from mainstream, traditional finance hasn’t exactly regained the trust of the masses after the economic crisis — and is almost certainly never going to regain the trust of cryptocurrency proponents.

Crypto Enthusiasts Express Concern That Banks Could Take Over Bitcoin

‘Making Extra Bucks’

Al Jouf also believes cryptocurrency will stick around as a popular way to speculate and make money by trading in a volatile market. He explained:

People still use it for the fun of making extra bucks. Of course it’s risky and anything new is risky. There’s a lot of hype on how to make money out of it. I’m sure you heard that if you had bought x amount of bitcoin… You’re a billionaire today. But in reality, there’s a big issue on how to get this money out of the cryptocurrency industry.

Plenty of companies are already working on solving this issue — including Al Jouf’s. As more regulatory-compliant solutions come into play, cryptocurrency will only be further solidified as a viable means of value transfer, speculation, and investment.

Bitcoin volatility

‘Blockchain is not doing anything’

Finally, Al Jouf noted his opinion that blockchain technology is currently not doing anything of value for the real world. He told Arabian Business:

Blockchain [in its current form] is not doing anything. We need to implement it somewhere on our surface. You see a lot of people talking about blockchain, but there’s the question of why do you need to use blockchain and how you can implement it in your business. In Europe, many companies completely shifted their businesses to blockchain. We need some time in the region to see [that]… I see it progressing in some areas, but it will require some time.

During that time, expect companies all over the world to nevertheless continue implementing blockchain solutions in the race to launch the first true killer app. If and when that happens remains to be seen.

Do you agree that cryptocurrency is here to stay? Let us know your thoughts in the comments below! 


Images courtesy of Shutterstock, Wikipedia Commons, AdobeStock.

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Čvn 07

Binance Invests in Malta-based Blockchain Esports Company

· June 6, 2018 · 10:00 pm

Binance, the cryptocurrency exchange behemoth has invested in Malta-based chiliZ, a blockchain esports company. ChiliZ revealed the news via a blog post on May 5. This move represents Binance’s first significant investment in Malta since announcing its intention to transfer its operations to the Mediterranean Island country.


Binance Teams up with chiliZ

According to the blog post, both Binance and chiliZ recognize the immense opportunities in the $110 billion video game industry. The cryptocurrency exchange wants to team up with the eSports company to bring blockchain technology to the gaming industry. With cryptocurrency and gaming appealing largely to the same user demographic, a melding of interests and strategies between the two companies could facilitate faster blockchain and cryptocurrency adoption within the gaming industry.

The monetary value of Binance’s investment in chiliZ is unknown, but the eSports company has already raised more than $27 million in a private funding round. Commenting on the investment deal, chiliZ CEO, Alexandre Dreyfus said:

Binance’s significant investment in chiliZ will boost our current private placement offering and help us to move faster. Their support will help us deliver our vision globally, increase our visibility in the blockchain ecosystem and empower our technical vision.

Apart from the monetary investment, Binance also plans to partner with chiliZ to tokenize the eSports ecosystem. Trading of virtual assets is already a mainstay of the video gaming world. By leveraging cryptocurrency and blockchain technology, stakeholders can monetize the industry. Commenting on the benefits of such a partnership, Binance CEO, Changpeng Zhao said:

chiliZ is a creative way to embrace blockchain technology, aimed at building tools and services for mainstream adoption in industries that have a massive global growth rate. We are thrilled to support the team behind the project, and to help make them a success.

BNB Continues its 2018 Streak

Binance Coin (BNB) remains the best performing token of 2018. BNB prices are up almost 100 percent since the start of the year. At press time, BNB tokens were trading at $16.33 which represents a nine percent gain over the last 24-hour period. The weekly and monthly gains posted by BNB so far stand at 32 percent and 17 percent respectively. The 17th ranked cryptocurrency according to market capitalization figures reached its highest price valuation of $24 in mid-January 2018.

Binance Coin Charts

Malta Set to Pass Ground-breaking Cryptocurrency Laws

In a related development, the Maltese government has drafted a set of laws to guide the operations of cryptocurrency companies in the country. Announcing the news, Silvio Schembri, the Digital Economy Parliamentary Secretary said Malta was setting a precedent for the rest of the world to follow.

According to Schembri, the provisions in the draft provide the necessary framework for the monitoring and regulation of the country’s burgeoning cryptocurrency industry. He dismissed claims of the government tacitly trying to encourage money laundering under the guise of cryptocurrency commerce. Schembri said the requirements in Malta’s cryptocurrency laws were even stricter than the EU’s anti-money laundering regulations.

The law isn’t without its critics as opposition MP Kristy Debono found fault with the composition of the Malta Digital Innovation Agency (MDIA) board. The MDIA is the body responsible for overseeing the country’s emerging cryptocurrency industry. According to Debono, the MDIA should have cryptocurrency operators as members rather than nominees exclusively handpicked by the Prime Minister. Debono believes that without adequate representation from the cryptocurrency community in the running of the MDIA, the Maltese cryptocurrency economy will suffer the same disrepute as other sectors.

What are your thoughts about Binance teaming up with chiliZ? Will the new government regulations in Malta attract more cryptocurrency and blockchain investment into the country? Keep the conversation going in the comment section below.


Images courtesy of chiliZ.io, CoinMarketCap

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Čvn 06

Block.One Starts Mainnet – EOS Tokens Rise

· June 5, 2018 · 10:00 pm

Block.One, the developer of the EOS blockchain platform, has raised more than $4 billion through a yearlong sale of EOS tokens, which makes it the largest fundraising of its kind, as The Wallstreet Journal reports.


This is more than twice the size of the next largest coin offering ever of Telegram, which raised $1.7 billion, and larger than all but two of the world’s initial public offerings on stock exchanges so far in 2018. Block.One still owns 10% of all EOS tokens, adding approx. $2 billion to its balance sheet, making it one of the most well-capitalized blockchain companies worldwide.

EOS is a so-called platform token, which represents an operating system – comparable with Microsoft’s Windows OS for computers or Google’s Android for mobile phones – for the blockchain. The best known platform-token so far is Ether, the token for the Ethereum platform. The rivalry between the two systems is also a fundamental discussion between “Proof of work” (PoW) and “proof of stake” (PoS), which are two algorithms by which a cryptocurrency blockchain network aims to achieve distributed consensus.

Cryptocurrency PoW mining

PoW-based cryptocurrencies use computationally intensive puzzles in order to validate transactions and create new blocks. New tokens are created by “mining”, which equals use of energy. It makes those networks slow and expensive. There are ideas discussed at the moment how to mitigate those problems, but the general problem – that new tokens are created by mining, which imposes costs and limitations – cannot be changed. In contrast, in PoS – based cryptocurrencies, the creator of the next block is chosen via various combinations of random selection (i.e. the stake). Those platforms have no capacity issue and very little transaction costs.

One of the critical success factors for any of these platforms is to create a vivid ecosystem in a short period of time and to attract programmers and entrepreneurs who intend to build so-called dApps (decentralized apps) on those platforms. In order to boost the EOS ecosystem, Block.One has pledged to invest more than $1 billion in startups building on EOS. The funds are channeled via a variety of partnerships with renowned venture funds like Mike Novogratz’s Galaxy Digital, Eric Schmidt’s TomorrowVentures and Christian Angermayer’s FinLab. Novogratz and Angermayer (via his holding Cryptology Asset Group PLC) are also shareholders of Block.One.

While the best way to profit from the EOS success is to hold EOS token, FinLab, which is listed on the Frankfurt Stock Exchange (international securities number: DE0001218063) is a good indirect way to participate in the EOS success story.


Images courtesy of Block.One, Shutterstock

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Čvn 05

‘Big Four’ Australian Bank Beats Bitcoin… in Money Laundering

· June 4, 2018 · 9:00 pm

One of Australia’s “big four” banks, Commonwealth Bank (CBA), has agreed to pay Australian Transaction Reports and Analysis Centre (AUSTRAC) AUS$700M ($530M USD) in settlements for breaching anti-money laundering and counter-terrorism financing laws.


During a period of 3 years, CBA had failed to report 53,506 bank transactions, improperly monitored 778,370 accounts for money laundering red flags, and filed 149 suspicious matter reports late. The scandal resulted in the departure of Chief Executive Ian Narev.

CBA denies knowingly breaching AML laws, arguing that a single coding error had led to the failure to report the 53,506 transactions. However, they did admit responsibility for a lack of proper due diligence.

“Our agreement today is a clear acknowledgment of our failures and is an important step towards moving the bank forward. On behalf of Commonwealth Bank, I apologise to the community for letting them down,” said CBA current chief executive, Matt Comyn.

Illegal transactions: Fiat vs. Crypto

This news is particularly ironic considering the accusations by the mainstream media (and Bill Gates) that Bitcoin and other cryptocurrencies are being used primarily for money laundering and funding terrorism.

Studies conducted by Colombia University Economics professor Edgar Feige have already disproven these claims, citing that almost 50% of the world’s hard currency is utilized to make Illicit transactions like drug and arms trafficking.

A recent panel held by the US Senate Judiciary on modernizing anti-money laundering laws also found that only a small percentage of illicit activity spending is done through cryptocurrency.

The fact remains that cash is offline, and therefore more difficult to trace. Digital cash is recorded on a centralized database, where institutions with their own agendas can easily hide these transactions from the authorities.

By contrast, the immutability of transactions on the Bitcoin blockchain actually makes it harder to move money around without a trace.

A recent study by Qatar University and Hamad Bin Khalifa University revealed that unmasking the users behind these transactions often requires nothing more than a wallet address and a Google search. Qatar University researcher, Husam Al Jawaheri, explained:

The retroactive operation security of Bitcoin is low. When things are recorded in the blockchain, you can go back in history and reveal this information, to break the anonymity of users.

The best drug traffickers can hope for at the moment is using coins like Monero to mask their transactions, however, even Monero has its vulnerabilities.

CBA Implementing Blockchain?

Just 2 years ago, the now-ousted CBA executive Ian Narev acknowledged blockchain’s potential to be “transformational” for customers and in reducing costs, while perhaps not also recognizing its capabilities as an immutable ledger for the Bank itself.

It’s safe to say that a CBA ledger built on the blockchain would’ve made it much more difficult to conceal 53,506 transactions, saving AUSTRAC a lot of time and money investigating the breach.

To date, CBA has spent more than $400 million on anti-money laundering compliance measures.

Do you think the bank would consider using Blockchain technology to improve compliance with AML and counter-terrorism financing laws? Share your thoughts in the comments section below!


Images courtesy of Shutterstock

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