Čvc 06

Can CREDO Take Its Place Alongside Visa and Mastercard?

· July 6, 2017 · 11:52 am

Saint Petersburg, Russia-based CREDO have developed what is being dubbed a “next generation payment system” that makes everyday shopping easier for both buyer and seller alike.

[Note: This is a sponsored article.]


What is CREDO?

CREDO is a multi-functional payment system based on a financial algorithm that involves the participation of an independent agent in the transactions of purchase and sale of goods or services. Also called a derivative, the Electronic Certificate enables the parties (buyer and seller) to assume the right or obligation to perform certain actions with respect to the underlying asset.

Some of the features of CREDO include:

  • Innovative multi-brand loyalty program
  • Ultra-high discounts for all types of goods and services
  • Electronic certificates sold for crypto-currency
  • Electronic card linked to a personal bank card
  • Internal processing system independent of any banks
  • High-speed payment system using NFC technology
  • POS-terminals and EMV Java Cards
  • Created to work everywhere in the world just like VISA or MasterCard

CREDO internationality

CREDO’s primary competitive advantage is its internationality. Users of CREDO can buy and sell with any currency and from any country in the world. The payment model is extremely efficient and applicable not only to goods and services but intangible and tangible assets as well. It allows credit and payment operations not only through classic financial markets but through cryptocurrency as well.

Oksana Evseeva, an expert on international investments certified IFRS by the Institute of Financial Accountants in London, weighed in on the potential of CREDO in the global marketplace:

CREDO could be comparative and competitive as Visa and MasterCard using its model on B2B and C2C markets. […] It could work as on B2C as on B2B and C2C markets combining current financial and new crypto-currency markets.

B2C Payment Platform

CREDO’s B2C model works similar to a customer loyalty programs but gives more opportunities for market coverage. Customers can buy goods and/or services at a discount from any participating merchant around the world.

The basic mechanism of transactions in CREDO in B2C sector is as follows:

  1. The Retailer issues emission of Electronic certificates (Derivatives) for future sales of its goods/services
  2. The Operator works with the Retailer, providing payments for Derivatives, and also with Clients, providing sales of Derivatives, with a discount in case of rising clients’ base and loyalty
  3. Clients buy Certificates for goods and services.

The end result is a win-win for all participants. Retailers get more customers and increased working capital, Operators get an increased client base and profit margin, and customers end up paying less for the goods and services they purchase.

CREDO is Real World Tested

Unlike many ICO projects that seek to raise capital to fund the development of their service or platform, CREDO is already being used in real world scenarios, having undergone rigorous testing to ensure full compliance and adaptability for both domestic and international cross-border transactions.

Konstantin Galibus, CEO & Founder of CREDO

Konstantin Galibus, CEO & Founder of CREDO, describes some of their earlier tests:

We carried out a transaction in Europe through Deutsche Bank and VTB Bank in Russia executed a cross-border transfer for purchase liabilities of one of our Spanish counterparties. While Deutsche Bank, which acted as a correspondent bank, suspended the transfer of funds until the transaction structure was explained, when the processing model CREDO was presented to Deutsche Bank and the economic feasibility was proved, the funds were released and the transaction was concluded with success.

This example demonstrates not only the adaptability of our system to the strictest requirements of international banks but also our willingness to ensure cross-border transactions using an absolutely independent financial instrument.

Since then, CREDO has been used by over 1000 customers throughout China, UAE, Spain, and Russia. Over 9000 transactions have been completed totaling over 16,120,000 EURO. In a recent tweet, CREDO announced that additional pilot projects are in the works:

According to the project whitepaper:

CREDO has a patent for the designed system. The functional of the business model of CREDO has already been provided with all the necessary software and hardware and confirmed by positive test results in Europe. CREDO is a real financial project with its own technical processing, POS terminals, and EMV Smart Cards.

CREDO Pre-ICO in Progress

Launched on June 25, 2017, CREDO’s first round Pre-ICO is already under way. The ICO seeks to raise $5.5 million USD. Funds raised during the ICO will be used to:

  • Fund the cash turnover and create a new Operator in the system needed for the Cash-Forward payment model of CREDO’s B2C platform
  • Overall system improvements
  • Marketing

The Pre-ICO ends on July 10, 2017, after which it will transition into the main ICO. Investments in the ICO can be made with Bitcoin, Litecoin, or Ethereum.

For more information about CREDO please visit their official website or download their whitepaper. CREDO’s ICO is being hosted at ICO Marketplace.

Does CREDO have the potential to take its place alongside Visa and Mastercard? How will it affect mainstream adoption of cryptocurrency? Let us know what you think in the comments below.


Images courtesy of CREDO, Shutterstock

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Čvn 30

SkinCoin: a Blockchain Solution for the Video Game Skin Trade Economy

· June 30, 2017 · 2:00 pm

The new blockchain project SkinCoin aims to fix the problems plaguing the booming market of video game skin betting and trade.


The skins market is somewhat of a novelty concept even to many veteran online gamers. It has existed as a fairly marginal industry ever since video game skins first became available but when Steam’s skin market economy spilled into secondary platforms several years ago – and generating insane profits in the process – the industry grew exponentially.

For those who may not know, skins are modified textures of in-game objects. Users can buy, sell and trade skins and prices are primarily dependent on the skin’s  rarity. They don’t actually increase a player’s chances of winning but rather make his character look more distinct and visually appealing. For professional streamers and tournament players, vast skin collections are a very important asset that helps them shape unique and identifiable personalities.

Some rare skins used by pro players are in such high demand that they can be sold for thousands of dollars in online marketplaces.

Revolutionizing Video Game Skin Trading

Steam policies restrict how much real money you can pay for a game asset. It is for that very reason that third party skin trading platforms emerged in the first place. While many of these platforms are legitimate, the popularity and profitability of skin trading have given rise to scam sites as well. An unfortunate side effect of these scam sites is that their fraudulent activities are being blamed on Steam since Valve profits from every skin purchase even if it was arranged by a third party. 

According to a report by Bloomberg, skins market in 2016 was valued at close to $7.4 billion USD and that number only seems to be increasing. Even in the face of Valve’s half-hearted attempts to crack down on third-party trading platforms, the market is expected to grow as high as $22.6 billion USD by 2020.

SkinCoin projects

The demand for video game skins is very real, as is the need for a free and safe marketplace to meet players’ growing skin trading needs. SkinCoin aims to fill that need by providing gamers with bulletproof blockchain-grade security solutions and transparency, as well as a free and decentralized p2p skin trading platform.

According to Igor Solomatin, CEO of SkinCoin:

We plan to solve the issues of skin trade on all video game sites. SkinCoin will provide security to players’ in-game assets and protect skin trade platforms from Valve’s claims. Unlike fiat money, SkinCoin is not a means of payment according to legal definition in most countries. Third party sites will be able to process trade transactions with the help of SkinCoin and still perfectly conform to Steam policies.

SkinCoin is another example of how blockchain technology is providing solutions to emerging markets materializing out of previously untapped digital economies. Specifically, its architecture is ideal for loosely regulated, speculative virtual markets which have to remain free and decentralized but also safe and transparent for all participants.

SkinCoin ICO

In order to realize their goal of creating a free, decentralized marketplace for the exchange of skins for cryptocurrency, SkinCoin has launched its ICO to raise the necessary funds. The token sale began on June 21, 2017, and will run for exactly one month, ending on July 21, 2017. Their ultimate goal is to raise 100,000 ETH, with a minimum goal of 5,000 ETH. All funds derived from the ICO will be allocated as follows:

  • 60% to marketing
  • 20% to development
  • 20% to future scaling

SkinCoin’s whitepaper further breaks down their marketing funds allocation as shown below:

SkinCoin marketing budget

For more information about SkinCoin’s projects, you can visit their official website, SkinCoin.org. Details about their ongoing ICO can be found here.

Are you a gamer who buys, sells, and trades skins? Do you think the SkinCoin project will solve the issues plaguing the skin trade market? Let us know in the comments below.


Images courtesy of SkinCoin

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Čvn 29

DAO.Casino to Launch Token Sale Today

· June 29, 2017 · 8:00 am

DAO.Casino, a project developing a universal blockchain-based protocol for online casinos, will be launching its token sale that seeks to raise funds for further development of its product.


The campaign, which launches at 01:00 PM GMT, will last until July 26th, 2017 or until its cap is reached, whichever occurs earlier. The project seeks to raise $25 million worth of ETH (83333,33). Thanks to the recent release of a minimum viable product for its protocol, the team decided against setting a minimum cap as the MVP would allow them to roll out the protocol in any case.

On the first day of the token sale, early contributors can buy 2,000 BET tokens for 1 ETH. For the next 13 days, token sale participants will be able to buy 1,800 tokens for 1 ETH. For the rest of the campaign, the number of BET tokens available for the same amount of ETH will decrease by 100 every three days.

Contributions will be accepted in Ether only.

Token Distribution and Funds Allocation

Seventy per cent of all issued tokens will be distributed among the contributors, while the remaining thirty percent will be distributed as follows:

  • 10% for legal purposes
  • 10% for bounty programs
  • 10% for early adopters and founders

All funds raised through the crowdsale will be allocated in the following manner:

  • 60% for R&D activities
  • 20% for day to day operations costs
  • 15% for marketing
  • 5% for legal issues

DAO.Casino token distribution and funds allocation

Founders and early investors will have vesting, which is required to ensure the work on the protocol continues after the token sale is over. Founders and early contributors will have 2 years vesting with 6 months cliff. This means we will mature 25% of our tokens each 6 months.

About the DAO.Casino Protocol

DAO.Casino’s blockchain-based protocol automates the value chain of the gambling industry. It will enable independent game developers to receive automatic rewards for their work when casinos take their games onboard. Even more importantly, unlike the current situation, the developers will retain the copyrights for their games.

The protocol of DAO.Casino also introduces the roles of a bankroll backer and randomness provider. As a result, game developers won’t have to depend on casino operators and finding a bankroll backer would be enough for them to roll out a successful product.

DAO.Casino protocol

Casino operators, for their part, will be able to guarantee that all games offered at their virtual premises are probably fair.

These and other aspects of DAO.Casino’s protocol will benefit all parties involved in online gambling business processes. All contributors – developers, bankroll backers, referrers, and casino operators acting as referrers – will be automatically rewarded for their contributions, eliminating the need for a third party to distribute said rewards. In other words, bankroll backers and referrers won’t have to rely on game providers in order to cooperate.

Further details regarding the protocol’s capabilities are described in the project’s whitepaper.

What do you think about the DAO.Casino protocol? How will it solve current problems plaguing the online gambling industry? Let us know in the comments below.


Images courtesy of DAO.Casino

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Čvn 27

Decentralized Ad Platform Developer AdEx Announces Token Sale

· June 27, 2017 · 2:30 pm

In an official blog post published today, decentralized ad exchange platform AdEx has announced that it will be holding a token sale, which is scheduled to begin June 30th, 2017. The project seeks to raise 40 000 ETH over the course of the crowdsale.


About the AdEx Project

Current advertising networks like Google AdSense, Adsterra, ShareASale, and others are fraught with problems, not the least of which are ad fraud and lack of consumer privacy.

AdEx aims to change all of that by developing a decentralized blockchain-based ad exchange that will benefit all parties – advertisers, publishers, and consumers – while bringing data security, fraud protection, clear and accurate reporting, and numerous other advantages of blockchain technology to the online ad market.

Co-founder and CEO of AdEx Ivo Georgiev explains:

Co-founder and CEO of AdEx Ivo Georgiev

The solution offered by AdEx seeks to benefit all parties involved in the online advertising ecosystem, which means end users as well as advertisers and publishers, while removing unnecessary and downright risky elements currently associated with centralized infrastructure.

Once launched, the AdEx Network will enable transparency for advertisers, better ad serving control for publishers, and more control over privacy and ad preferences for consumers.

The Technology Behind the AdEx Platform

Developed on the Ethereum blockchain, one of the core strengths of the AdEx platform will be its use of smart contracts. A smart contract is a piece of software, executed on the Ethereum blockchain, that contains all of the terms, rules, and regulations for negotiating the terms of a contract. It automatically verifies the contract and then executes the agreed upon terms.

In the case of AdEx, these smart contracts will ensure the removal of third party intermediaries and ensure complete transparency of the entire system, from ad selection and tracking to bidding and payment.  The complexities of choosing and tracking ads and facilitating bidding and payment will be defined in these smart contracts, simplifying and securing the entire process.

AdEx diagram

To mitigate the high costs associated with storage on the blockchain, AdEx will be utilizing IPFS (InterPlanetary File System) to host advertising related media such as images, videos, and larger data. Developed in 2014 by Protocol Labs, IPFS is described as a peer-to-peer hypermedia distribution protocol that allows for fast, secure storage and retrieval of data.

The AdEx team is also working on prototypes that incorporate several second layer solutions that will operate on top of Ethereum. These solutions will enable advertisers and publishers to easily interact while avoiding any potential blockchain limitations regarding speed and transaction fees. AdEx plans to implement IOTA as a future second layer to further improve the platform’s scalability.

Because AdEx is designed to be compatible with most of the existing ad tech industry, the process of adoption and integration by publishers and advertisers is easy. AdEx can be used in websites, mobile and desktop applications, and even embedded devices.

ADX Tokens and the Token Sale

The crowdsale, which begins on June 30, 2017, and runs through July 30, 2017, will fund the initial development and adoption of the AdEx advertising network. AdEx tokens (ADX) will use ERC20, a standard protocol for smart contract systems powered by native tokens. This will ensure the platform’s compatibility with other Ethereum-powered solutions.

AdEx token crowdsale

In order to estimate and optimize the perfect supply of native tokens for the token sale, AdEx has partnered with WINGS Foundation, the developer of WINGS DAO. The project also engages the social graph of the WINGS DAO crypto-experts to maximize potential project backers who can serve as product champions and evangelists, allowing AdEx to quickly go to market.

The terms of the ADX token sale are as follows:

  • Crowdsale duration: 1 month
  • Start date: June 30, 2017
  • End date: July 30, 2017
  • Total number of ADX tokens: 100,000,000
  • Number of ADX tokens available for sale: 80,000,000
  • Currencies accepted: ETH
  • Token price: 1 ETH = 900 ADX
  • Campaign cap: 40,000 ETH

Over the course of the token crowdsale, 80% of all ADX tokens will be available for distribution among the supporters. Of the remaining twenty percent, 16% will be reserved for developers and advisors, which will be vested for a year to ensure the smooth development of the platform. The remaining 4% will be distributed between WINGS DAO community and the bounty campaign participants, as shown in the picture below.

AdEx 20% distribution breakdown

During the campaign, only ETH transactions will be accepted. The address for contributions will be published at tokens.adex.network once the token sale has begun.

Future Plans

The first AdEx advertising platform prototype is scheduled for release as early as February 2018. It will include basic core features such as an ad bidding system, a front-end for advertisers publishers, and an SDK for publishers. The prototype will primarily focus on native and display advertising.

To ensure transparency, the prototype will undergo a stringent audit by an independent third party prior to release and its code will be completely open-source.

In the year following the successful release of its prototype, AdEx will focus heavily on business development as determined by both market needs and community feedback. During this time, AdEx plans to roll out major improvements to the platform, including user targeting and reporting, full integration of SDK, and video advertising.

By January 2019, AdEx plans to release AdEx v.2, which seeks to accommodate the needs of the increasing number of publishers and advertisers using the platform. The v.2 solution will essentially be a complete technological revamp, scaling the entire solution upward and possibly extending to other blockchains such as Aeternity or RSK.

Do you think the AdEx advertising platform will adequately address the shortcomings and failures of the current online advertising industry? What do you think is the most exciting aspect of this project? Let us know in the comments below.


Images courtesy of AdEx, AdobeStock

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Kvě 08

Blockchain-Based Decentralized P2P IOU Platform, Sikoba Launches Pre-Sale Ahead of Token ICO

· May 7, 2017 · 8:00 pm

London-based decentralized money platform Sikoba has announced its upcoming ICO with a token presale. The blockchain-supported platform is based on P2P IOU’s, and the crowdsale will give participants the opportunity to receive a 50% bonus on SKO tokens — a cryptocurrency designed to fuel transactions within the Sikoba platform. The ICO will take place between April 25 and May 15, 2017.


A Blockchain-based IOU System

Sikoba’s decentralized money platform allows users to offer each other mutual lines of credit, within a blockchain-based IOU system. The P2P credit system is made possible through various smart contracts and gives users the freedom to pay each other with fiat and cryptocurrencies. Sikoba’s smart contracts have specified conditions, fee structures and repayment rules to keep the credit relationships in order.

The platform employs a ’credit conversion’ system that also allows users who do not trust each other to exchange credit safely. On Sikoba, fiat currencies or cryptocurrencies can act as a medium of exchange when there are no credit links between participants, or to repay outstanding balances when needed.

Sikoba’s CEO Aleksander Kampa recently expressed the company’s intention for the decentralized platform to evolve into an entirely independent and self-organizing entity eventually. The Sikoba blockchain could achieve this using its ‘federated Blockchain’ design. This unique blockchain is self-governing, which allows the addition and removal of participants, based on the member voting consensus.

Sikoba’s CEO Aleksander Kampa

This is a permissioned mining model where only authorized nodes add blocks to the blockchain.

Kampa also stated that Sikoba would most likely use Ethereum as a notary, but still perform its primary operations on its own or another blockchain. The blockchain will be chosen based on the relevant criteria of scalability, flexibility, and speed.

Sikoba operates with a small development team, aided by several important supporting members. Still in the pre-alpha stage, Sikoba’s IOU platform is not expected to be fully operational until towards the end of 2017. SKO token presale funds will be appropriated for the expansion of the Sikoba team, to finalize a detailed whitepaper and develop an MVP by the year end.

The Sikoba platform aims to offer a fully functioning virtual credit or IOU system that offers users the ability to attain accredited value, borrowed from another participant without releasing any funds. SKO tokens serve as a type of digital credit and have the potential to become a major aspect of the future credit system.

Sikoba ICO Token Pre-Sale

Sikoba ICO Token Pre-Sale

The Sikoba presale tokens are scheduled for release by the end of June 2017. Participants will receive usable SKO tokens after the platform’s launch, expected in Q3, 2018. The pre-allocation phase has begun on 17 March 2017, and the public presale will start on 25 April.

Following the presale, Sikoba presale tokens will be issued on the Ethereum blockchain. They will later become exchangeable into SKO tokens, which will be used to pay for transaction fees on the Sikoba network.

What do you think of Sikoba’s blockchain-based IOU system? Let us know in the comments below.


Images courtesy of Sikoba, Pixabay

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