ConsenSys Ventures had earlier on April 1st released a press release concerning several blockchain start-up projects they intended to back for the year 2019, through their accelerator program Tachyon; which was launched in Berlin at
ConsenSys Ventures had earlier on April 1st released a press release concerning several blockchain start-up projects they intended to back for the year 2019, through their accelerator program Tachyon; which was launched in Berlin at the German Bundestag. Among those projects is LawCoin, which is the world’s first litigation finance investments and social justice crowd funding. LawCoin’s target market is high value lawsuits and legal claims.
Tachyon works to provide blockchain based solutions in many different sectors among them healthcare, software and technology, micro insurance, decentralized finance and many more. At the time of the conference, LawCoin founders Noah Axler and Marc Goldich stated that by having LawCoin incorporated into ConsenSys ecosystem will increase its growth and facilitate the utilization of blockchain technology into unlocking liquidity and financial investments in the litigation industry. By applying blockchain technology and crowd funding principles to litigation finance, LawCoin will allow investors to champion legal causes and profit in the event of victorious outcomes. So I guess it’s a form of a gamble of sorts but still worthwhile.
How does litigation investment work?
Say you suffer something like an adverse effects from a product that was recommended to you, say for example a brand of sunscreen that causes you to launch a lawsuit against the company producing the sunscreen. It is a worthwhile issue but it will take time and lawyers need to be paid and they will bill you for all the work they do on your case and the longer it takes the more money you will cough out.
The same goes for class action lawsuits, say for instance if other people as well got affected by the sunscreen and are suing. So here is where LawCoin comes in, you get an investor, who helps you out with the legal fees for the duration of the lawsuit and in exchange, the investor gets a piece of the final settlement at the conclusion of the case. Keep in mind that for the example given above, it is a lawsuit most likely to turn to the favor of the complainant.
Why this idea is even floated is because lawyers make a hell of a lot of money in litigation. It is a business first and justice second because if you cannot pay your lawyer you will have to contend with not having your lawsuit going anywhere unless you come up with the money. Niche alert! Cases such as medical malpractice, personal industrial injury, and investment lawsuits take months if not years, especially where the defendants are big corporations and government institutions and attract heavy settlements which makes good investment opportunities for investors.
According to Marc Goldich, litigation financing is the most forward invention in the legal sector. One major weakness in the new industry is that investments for high cost litigation only makes room for specific heavy hitting investors. Another fact is that once you invest in a particular lawsuit, you are stuck with it until its conclusion, which might take long.
Working Logic: Initial Lawsuit Offerings
In 2017, there was an article that did not receive as much recognition as it should have pointing towards the future of using crowd funding to launch and execute litigation in the future should blockchain technology and cryptocurrency gain traction to that extent. The only hurdle they fore saw in the implementation of crowd funding in litigation pertained to regulation. Reference was made to one milestone case of a property lawsuit against the West Bromwich Building Society which was a public interest litigation. In the matter, the funds for the lawsuit were sourced on an online platform CrowdJustice that brings people together so that they can cost share the expenses of a lawsuit.
At the time the article was posted, the notion was that just as the same way that aggrieved parties came together and came up with the money that was needed to successfully launch the case, cryptocurrencies as well can play the same role in executing cases that require huge sums of money to process, especially over a prolonged period of time; in the sense that they are practically buying a share in the proceeds of the outcome.
LawCoin hopes to achieve a working mechanism where investors purchase ‘security tokens’ which represent only a fraction of the lawsuit and in some sort make the funder a third party (although the courts will have discretion as to how far the involvement of an investor only in the interest of justice and not necessarily profit is concerned). According to Goldich, in the future, investors will even be able to trade their lawsuit tokens and the platform will work towards providing a nondisclosure agreement and proceed to allow investors to follow proceedings.
There are still questions as to how far this idea with tokenizing litigation can go. One of them being the amount of control that can be exercised by the parties to a lawsuit. If for instance, a matter is concluded and the aggrieved party does not get the amount of settlement that they hoped for or in the event that the claimant opts to take an out of court settlement, the investors stand to lose out.
What are your thoughts?
In the first instance, Peerion requested a website campaign. The agreement consisted of an original creation about their project and an attached image. We created the related document and image for their project and brand image. Once delivered, Peerion rejected the document and the designed image; by requesting to publish a document and an image of his authorship, it was accepted without objection.
Once it was agreed to publish, the link to the publication of the content was delivered. Now, Peerion refuses to give tokens for the publication. Peerion refuses to fulfill its part of the deal. And as a medium that published its content, we are forced to remove it from our publications.
It seems like an interesting project, but it has made other people work for nothing and it’s not something that can be seen in a positive frame of view. Could it definitely be an “exit scam” if Peerion treated media and websites in its industry in that way? We’re a bit surprised when Jeremy Klein hasn’t advocated a solution.
Facebook has been making strides for months into launching its own stable coin despite the fact that the social media giant had put up a hostile stance towards crypto advertising, which they are now trying to change. Telegram and Signal are also working towards incorporating cryptocurrencies into their services. Last year, one of the many articles regarding the stable coin referred to Facebook’s intention to have their coin listed in several foreign currencies and not just the dollar. So far the crypto project has been under wraps with the company providing as little information as possible.
However last year the company hired an elite team to advance its blockchain agenda estimated to be about 50 total in number. With its collective client base estimated to be around 2.8 billion, Facebook could potentially replace conventional banking, given that Telegram raised a whopping $1.7 billion last year to fund its cryptocurrency project.
Facebook had last year banned cryptocurrency advertising based on the premise that a lot of those advertisements were not made in good faith and were mainly for fraudulent purposes. The ban covered ICOs and adverts on binary options as well. At the time of the ban, Facebook had mentioned that the decision would evolve with time but the security of its users was paramount as they sought ways to fix the ingenuine advertising strategies.
The ads at the time required a written approval by Facebook before they could be run. The company had a landing page for the application of various kinds of advertisements including cryptocurrency and digital assets related ads, which were at the time labelled as ‘prohibited’ hence the application and approval process. When the ban was announced, the company said that they were enforcing their ‘Prohibited Financial Products and Services Policy’ that is meant to curb predatory advertising behavior on the platform.
As of time of post, Facebook has changed its stance on crypto advertising. Prior to the announcement today, the company has had to rely on feedback from its users regarding the hostile terms but it is also suspected that the move is an indication that the company is ready to launch its own stable coin. In a statement released today, the company said that the company cryptocurrency advertising policy would allow crypto adverts to be done without necessarily going through the pre-approval process, but the application process for placing crypto and blockchain related ads would still remain.
In hindsight, Facebook has tried a few times before to offer payment services through their platform but most of them failed to the point of oblivion. These were notably Facebook Credits that was launched in 2011 as a virtual currency, Facebook Gifts, which was launched subsequently in 2012. This one failed due to Facebook not being able to solve issues with distance and localization problems which means that it could not function on a global scale. In 2015 yet another attempt was made via Facebook Messenger Payments only in the US. No inclusion of worldwide users meant it was doomed to fail.
Some could say that this breeds room for skepticism on the hushed upcoming project. Facecoin will, according to an analysis set up in March 2019, the stable coin will be integrated with crypto exchanges, which are increasingly coming under the scrutiny of authorities pursuing regulation. Also since Facebook is reluctant to give concrete information as to how the crypto will work, many crypto enthusiasts are questioning the backing it will have. Also, if the company has reserves, who guarantees it? How will challenges such as withdrawal problems and compensation for wallet holders if the occasion should arise? It has been argued that the company will need to obtain a banking license and adhere to banking regulations and further, will have to be backed by the central bank which is not very keen to back private currencies.
One of the biggest challenges Facebook has faced so far is the issues it has had with infringing the privacy of their users and authenticity of data that they provide. Taking on a role of payment and money transfer facilitation may not exactly be very adaptable even to new users. Kindly note that this article is purely speculative as to the nature and or progress of the intended launch of the stable coin.
On the first of May, CoinMarketCap announced that all the exchanges that will not provide mandatory data by June 2019 will be promptly removed from their calculations. The cryptocurrency data provider stated that the reason for this move was to provide greater transparency, accountability and accurate disclosure to the crypto space. In pursuit of transparency, all cryptocurrency exchanges will be required to provide mandatory API data including live order book data and failure to comply to this, CoinMarketCap stressed that any exchange will be promptly removed from its price and volume calculations. This condition will come into effect as of the 14th of June 2019.
Fast track the issue of crypto exchanges not submitting factual information as regards trading volumes or rather the concept of wash trading. Was trading by definition is a scenario where a trader buys and sells a security for the express purpose of feeding misleading or wrong information to the market concerned. Why CoinMarketCap is becoming strict with exchanges is because it is the number one provider of crypto trading information. As of 25th April 2019, Forbes conducted research regarding crypto exchanges and the legitimacy of their trading volumes.
Cryptocurrency exchanges are generally unregulated and this is beginning to become a concerning the maturity of the crypto space. The Blockchain Transparency Institute compiled a report at the end of 2018 detailing information collected from the top 25 crypto pairs from sixty seven different exchanges listed on CoinMarketCap and came up with shocking levels of wash trading evidence. The practice of wash trading is apparently so rampant where traders buy and sell their own orders to create an appearance of higher trading volumes than there really are as pertains a particular asset.
Yesterday, Cryptobriefing posted a damning article after the findings of the research carried out by the Blockchain Transparency Institute pointed fingers at the crypto exchange Binance being involved in wash trading. The percentage of market manipulation displayed on Binance was not specified but it is worth noting that there are a good number of exchanges whose numbers are over 90% genuine such as Liquid, Kraken, Coinbase, Poloniex, Lykke, Gate and Bisto with Kraken being the ‘cleanest’ of them all. Kindly take a quick look at the graph provided here at the time of the report showing the real volumes as opposed to those projected on a few exchanges.
The Forbes article was coined ‘95% of volume could be wash trading…’ which seemed to agree with one of the key points from the research by Blockchain Transparency Institute that most of the trading volume pairs reported were in actual sense about 1% of what was presented. I do not know about you but I find that grossly flabbergasting. I mean there are so many strides being made in cryptocurrency and I can imagine as the investor pool diversifies and increases, they would not be happy to know that the figures being presented to them are fictional. For the most part that is. Even an anonymous crypto surveyor of sorts based in Cyprus known as Cryptointegrity comprised of independent volunteer researchers from Europe and Asia reported in February 2019 that as high as 86% of trading volumes are completely artificial.
So what is the resolve by CoinMarketCap going to do? The data provider partnered with Data Accountability and Transparency Alliance (DATA) on a three part executive agenda. The first part is as mentioned earlier, the mandatory provision of data by exchanges that wish to have their calculations remain on the site. The second phase is in-depth analyses of the information from the exchanges, which might include wallet addresses information, live market pair status and trading data history.
The third phase is providing data users with informed insights into blockchains as they continue to grow verified exchanges onto their databases. As it stands, 12 crypto exchange companies are on board. Wash trading effect reaches as far as trading bots that make all their returns based on the information provided on exchanges. Not to mention potentially ruin investment opportunities especially with institutional investors that are steadily becoming the driving force behind adoption and evolution of crypto and blockchain.
Not to mention that the SEC could potentially use this as a basis of their growing concern over the volatile and unchecked nature of digital assets seeing that until now Bitcoin ETFs are yet to be approved. I mean the reality that the genuine trading volumes are as low as 8-50% and it’s a point to impress users, then crypto stability is in big trouble. It causes a lot of issues regarding transparency as well as trust in the information that every crypto enthusiast relies on. The extent of the effect of wash trading remains to be seen but hopefully the CMC can restore some sort of verifiable figures as soon as possible.
Cryptocurrency Exchange has been accused by the Attorney General’s office in New York of hiding an $850 million loss by covering it up with Tether funds. The AG, Leticia James stated that the exchange had transferred the amount to a Panamanian firm Crypto Capital Corp, which subsequently lost all the funds. In a further statement to the effect of the lawsuit, the AG said that the company was in contravention of the law in connection to activities that could have potentially defrauded the New-York based crypto investors.
The loss was not communicated to investors and the judicial office was of the opinion that it was their duty to protect investors (both individual and corporate) since the operators of the Bitfinex trading platform that also controls the Tether virtual currency. In the second quarter Q2 of 2018, the exchange was unable to process withdrawals and officials were accused of fraudulently transferring funds that could have mitigated the risk of such an event onto Tether’s balance sheet and still carried on representing that the Tether units were fully backed by US dollars, which was not the case. At the time, a good number of customers had launched complaints with the exchange demanding to know why their withdrawals were taking so long to process, to the effect in which Bitfinex released a statement that they were working to implement an efficient system to be able to process all the transaction quicker and more effectively.
Bitfinex however, refuted the claims by the AG’s office and stated that they were instituted in bad faith and false assertions. In the face of the lawsuit, the court ordered the exchange to stop all dissipation of US dollars backing the Tether tokens and to provide all documentation that is required for the investigation. Officials at Bitfinex released a statement committing to this issue being resolved as soon as possible and assured their users that there was nothing to worry about.
The company gave a vague answer however as to what exactly happened to the funds in question after saying that the amounts of crypto in question have just been ‘seized and safeguarded’ and did not provide the identity of who did the seizing and safeguarding.
It is worth noting however that the exchange moved $89 million worth of Bitcoin and $96 million worth of Ethereum from its cold wallets in the past few days. This worries crypto users who have accounts with the exchange as they are not sure how badly the trading volume will be affected, or if Bitfinex will be able to repay the loans. Maybe this is what prompted the subpoena from US regulators to have an unofficial audit of both the exchange and Tether, since they are both independent entities to ascertain if they had adequate dollar backing.
In the event that customers lose confidence in the stable coin it will inevitable affect the price of Bitcoin as well. Former Wall Street analyst Tony Vays, stated that if Tether blows up, it could potentially cause a short term panic in the crypto sphere and cause customers to resort to quickly offloading their Tether reserves and leave the exchange. As it is, Tether market cap has dropped by 1.69% in the past 24 hours.
DexAge decentralized marketplace and global adoption
The DexAge decentralized exchange is a new autonomous and self-sustainable system, fueled by the social connection between traders and investors who use the platform. DexAge’s trading model capitalizes the power of users and channels it creating feedback synergies. The DXG platform combined with its dApp makes it possible to run in a decentralized framework; an approach that is gaining followers in the community. An online environment designed to enable several functions as described below. Operators, users, and investors find a new competitor in which to exchange and lend cryptographic assets.
Also, it offers an interface enriched with other nuances to enhance the use of decentralized wallets in day-to-day operations. No need for multiple registrations, or cede personal data to various third-party organizations. This is one of the premises that DexAge fulfills. In the ecosystem and through dApp, users can communicate and share their ideas. Or perhaps, share knowledge by chatting with each other before closing a business transaction.
The cases of use are multiple, in an increasingly digitized global environment in which companies and people interact with each other. A daily example is meetings, webinars, and talks through other well-known applications. Whether decentralized or centralized. The single, centralized authority model that controls the entire system has become obsolete. Since the founding team of DexAge, this sentence has been assumed, and power is given to the shareholders of DexAge. This kind of decentralization of power makes them the primary force influencing growth and development. You can join the telegram community at the following link.
DEXAGE DEX TELEGRAM Original Source – https://dexage.io/ico/images/usp-dex.png
The platform that will power the DXG token offers a full range of P2P functions
Asset escrow is a hot topic in the blockchain ecosystem throughout 2018 and what we carry from 2019. Even Vitalik Buterin stated without hesitation his inclination for DEX exchanges as the way forward. Centralized exchanges are bright in the dark for cyber bandits. Unlike their decentralized counterparts, exchanges with a single manager and incidences tend to be the chosen victim. On the other hand, decentralized exchanges are not perfect.
However, they avoid being an easy target. In a menu combining decentralised deposit services, p2p chat, and DEX, commissions are reduced to a minimum. This saving, compared to traditional loan systems, will generate economic equity. The elimination of such costs without intermediaries encourages all parties to feed liquidity and demand loans 100% crypto. The platform, led by Preciuous Kenneth W. and Suano Neenwi, joins the list of emerging companies in the Blockchain sector. The characteristics described in the documentation go beyond the conventional trade of a centralized cryptocurrency exchange.
Trading in the traditional way will be the primary function. However, a few implementations added by the development team will facilitate the exchange through custody between peers; decentralizing each feature. It will also show that escrow trading (Mainnet) will be launched in the second week of May, while other DexAge projects will follow the initial suite later.
The initial offer of the DXG token offers several alternatives for its acquisition
For those interested in participating in the initial sale of DXG there are multiple avenues. The fixed value for the Token is $0.01, so the opportunity to join with the 1000% discount is attractive. During the writing and publication of the article, it is sold at $0.001 (US Dollar – USD). Once the initial offer is finalized and all launch requirements have been adjusted, activities begin. The DXG token will start shooting in the second quarter of the year a few weeks before the platform is released. It can be seen on its roadmap, which are the first two priorities for the year 2019 full of expectations.
Global tokenization continues, replicating every trade-related aspect. The blockchain ecosystem weaves new commercial networks without intermediaries, new p2p networks. In a progressive but evident transition, we observe as entrepreneurial initiatives, of community nature, anticipate habitual giants of the market.
OFFICIAL DXG LINKS
P2P Lending Marketplace.
Transactions carried out on the decentralized platform, whether for trading or lending, have been designed to be coordinated by decentralized deposit services. This point is developed based on secure, intelligent contracts in the blockchain. For information on this point, we recommend reading the White Paper carefully.
Through the use of referral schemes, staking, voting rights, and portfolio diversification, the platform will empower its stakeholders and lead to its mass adoption.
The loan market is expected to generate several benefits; in principle, it encourages keeping tokens in stakeholder ownership. This movement creates temporary scarcity by temporarily removing them from circulation. On the other hand, the demand for credit generates cases of use and application of the platform token. This creates a speed of money that is expected to enjoy an excellent performance while waiting for feedback and solve small errors.
Soon more exchanges will list DXG adding value, liquidity, and ease of access to the token
Duly audited smart contracts will coordinate decentralised warehousing services. Via Smart contract, robust centralized networks such as Ethereum, offer a precious quality; 24/7 functionality and rigid compliance with agreed sentences. At the same time, automation with code requires an unpolluted system, adequately audited and carefully tested.
Since the core team of DexAge has confirmed the agreement for the listing in LAtoken. So after the sales and finished the Bounty/Airdrop deals of the DXG token will be negotiated in LAtoken. In addition to LAtoken and Bitcratic (DEX), it is progressing that negotiations are currently underway with other exchanges/bags for the upcoming listing of the DXG token.
Documents and more details at the links below
Occasionally it is said that Bitcoin is a form of value storage, a payment system or a global currency. In some ways, confusion or disagreement is caused by Bitcoin’s ability to perform all three functions. However, the high volatility of crypto currencies causes risk-averse traditional investors to discard them. Coinerium‘s main objective is to ensure that users can transfer funds on a daily basis via their CONM token without risk of loss and in a safe environment.
The CONM token is the token created by and for Coinerium’s objectives of transferring funds in a simple, decentralized and secure manner. For this purpose, the risks of loss due to volatility are eliminated by anchoring to the dollar. Therefore, each CONM is equivalent to $1 (U.S. Dollar). Today, stable tokens or stablecoins have made a dizzying comeback. After the launch and proven utility of Tether, the crypto space embraces the stablecoins. The advantages are remarkable, when redeeming Bitcoins for Dollar or Euro the operations become slow and expensive; however, with the crypto stable tokens to trade with Bitcoin against Dollar or Euro has gained in ease, and speed.
Coinerium introduces a blockchain ecosystem to replace cash payments; through secure and virtually zero cost transactions in a secure environment. Next, we analyze the project that involves the CONM token in a decentralized ecosystem of payments via blockchain.
The Token format is an ERC-20 standard on the Ethereum network, compatible with the most popular and secure network portfolios such as Metamask, MyEtherWallet or MyCrypto among others. Cold-storage purses compatible with the ERC-20 standard are also included. In terms of data privacy, today there are all kinds of tools for tracing financial and other data. With the right tool and a few clicks, anyone can easily predict our actions on the network, from the volume of our transactions to even estimating our approximate revenue or our most personal preferences.
The battle to guess the next product, asset, food or garment in trend is fought on the net. This is why users or businesses may not want their transactions to occur on a fully public or centralized platform. Total transparency can result in a breach of the right to privacy; some data is sensitive to being written down in chains of incorruptible and public blocks. In this respect, Coinerium has devised an ecosystem that respects the financial privacy of users, imitating the privacy offered by cash payments (physical exchanges of currency or notes). The centralization of private data becomes an attack vector for cyber-criminals; in addition to diluting trust, it can lead to misuse of third party data.
Coinerium’s wallet is also available for mobile. In addition, connoisseurs of the blockchain industry, a customer service support will be established. Administrators will have public accounts for easy location by users. Focused on the loyalty of new users by addressing problems, questions and incidents that users may have. The process is as simple as downloading the application and registering the telephone number.
In the Coinerium ecosystem traders are defined as companies that accept payments in CONM tokens in exchange for their products or services. Together with individual users, they are the backbone of decentralized communities. In this sense, market makers have their place secured in Coinerium after an initial approval. To develop Coinereum’s cashless community, a Software Development Kit (SDK) has been introduced. Any vendor who downloads and configures the SDK can accept payments in CONM tokens.
Merchants will have two main categories on the platform (Standard and Approved). Standard Merchants, which are merchants who use Coinerium only as a payment intermediary and will not charge your Coinerium. Approved Merchants are merchants who meet the necessary requirements. Requirements established by the foundation to be able to charge in any currency since the foundation, with a minimum limit of 1000 Coinerium. An average commission of 5% will be taken by the foundation.
The CONM token is part of the recent category of stable tokens (Stablecoins), it has been configured so that its value is anchored to the price of the U.S. currency. One detail that has caught our attention is the proportion of tokens available for the acquisition of investors, 70% of the total issue. This results in a low capitalization on the part of the founders decentralizing the distribution to the maximum. The minimum collection is set at $1,000,000, while the maximum is set at $5,000,000.
As can be seen in the documentation, (70%) are tokens available for acquisition in the different stages (pre-sale and initial sale). As an ERC-20 token, investors must have a compatible address for the Ethereum network. The remaining 30% will be allocated to three groups formed by Advisors (advisors and/or commercial), Team and Rewards/Airdrops; each of them has been allocated 10% of the total respectively . For more detailed information on the initial sale and the conditions of participation we recommend reviewing the technical document. (Whitepaper).
The total amount of Coinerium in circulation will be insured in an smart contract (150% guarantee deposit in Ethereum). As a result of recent money laundering concerns, individual users will not be able to collect through the foundation; they will be able to exchange the Coinerium CONM token on exchanges. As mentioned above, only selected and approved traders in the system will be allowed to convert their Coinerium into trust currency. If you would like to learn more about Coinerium you can visit the social networks or the website for more details and updates.
Web page – https://coinerium.io/
Whitepaper – https://coinerium.io/Whitepaper_V1_EN.pdf
Coinerium Dashboard – https://dashboard.coinerium.io
Telegram – https://t.me/coinerium
Medium – https://medium.com/@subscribes_13227
Facebook – https://www.facebook.com/coinerium
Twitter – https://twitter.com/coineriumToken
Instagram – https://www.instagram.com/coinerium/
Mining is a fundamental part of the blockchain for any crypto whether PoW or PoS, even other more recent algorithms such as PoE or PoP; some tokens starts pre-mined at 50% or even 100% of the available supply. However, most work running on blockchains with some of the existing mining algorithms; as is the case with Ethereum. The miners who support the network as the basis of the decentralization model become centralized as the increasing cost of start to operate.
To change the course of events, MinedBlock has designed an equitable model for investors. Several mining ICOs have been carried out during 2017 and 2018, sometimes offering a portion of the mining revenues in exchange for investment. However, making the initial sale without registering a regulated security token resulted in fatal outcomes. Mismanagement from the earliest days can erode even the most successful project, increasing the risk of failure for founders and investors. MinedBlock presents a mining operation focused on mining as a service, and the MBTX token is part of the equation.
The foundational core of the mining operations center that will conduct mining as a service
To house the project, a dedicated mining facility will be created that will focus on extracting multiple coins from the top 50 by market capitalization to ensure a wide range of revenue streams for customers to benefit from. Through the proposed large-scale operation, we will help improve currency decentralization where large groups of currencies already dominate the hash rates of popular coins. From the outset, there is an indication of a level of decentralization within the territories themselves, through the global distribution of mining data centers.
The founders, Greg Wales (CEO) & Paul Bishop (COO), with Matthew Ruff (CSO); identify and manage the risks associated with the company’s code of ethics. They are also responsible for catalyzing projects to take advantage of business opportunities with impact. In short, the goal proposed by the founders, oriented towards mining as a service, will challenge the usual difficulties of cloud mining services through a process based on STO, transparency and equal participation.
The solution to the Uncertainty of “Cloud Mining” and Other Services with MBTX
MinedBlock is running a Security Token Offering using Polymath ST20 fully compliant tokens. This configuration allows them to raise funds to speed up the process described in the roadmap in an automated way focusing on the most critical aspects. In this way, it accelerates the management process on the part of the core team. A large-scale mining operation without the need to purchase, configure and maintain mining equipment and set in a transparent environment. For this, the MBTX security token will feed a feedback ecosystem, generating an ecosystem with the premise of keeping mining as a service.
MinedBlock says that it will offer a fully managed mining service, in which it will be possible to count on specialists to take care of the equipment. Maintenance and upgrades are vital to ensure efficiency and profitability remains at its best. It is an essential detail in an environment that neither sleeps nor rests; the aspect of working with maximum productivity without downtime makes all the difference. Miners process calculations 24 hours a day, seven days a week, which is why a mining facility requires attention, maintenance, and repairs.
Details of the STO event around the MBTX security token
MinedBlock Holding Limited will own 75% of the total Mining Service of which shareholders will own 95%. MinedBlock Limited will own the remaining 5% and will own 25% of the Mining Service. Also, it will use mine revenues to grow the service to increase revenues. Participants in the sale of security tokens will be required to pass the KYC controls through the Minedblock.io website to enable inclusion in the white list by a smart contract.
Documentation and transparency as an anti-fraud filter.
To satisfy the requirements of the U.S. Securities and Exchange Commission (SEC), U.S. investors will have to qualify as Accredited Investors. We strongly recommend that you read the presentation document to understand the details, requirements, and risks associated with investments in cryptocurrencies and mining operations. A minimum target (SoftCap) of $1,000,000 has been set for the project to be established.
Valuation of the investor’s commitment.
MinedBlock are charging a nominal fee for the KYC process, which avoids fraudulent users posing as investors… each user who completes the KYC process will be credited with the equivalent number of MBTX tokens of the costs. In this process, the MBTX token will be delivered in proportion to the cost of the KYC process, at a discounted value of $0.075 each. This ensures that only participants who want to go through the process are taken seriously, reducing unnecessary costs for launching the company’s operations.
Characteristics of services that can make the difference from mining as a service.
To be a reality as a sector, mining services must not be different from other conventional services. Professionalism, transparency, immediate attention to the client/investor. These are details that make a difference. In this way, the sector shows a significant change with audited projects, registered as a security and complying with regulations. The services mentioned in the Minedblock documentation mention the following characteristics. With MinedBlock, it is not necessary to decide which currency or token you want to extract. MinedBlock counts on exploiting a variety of cryptocurrencies in favour of portfolio diversification. Such decisions make it easier to get proper distribution and maximize profitability.
About the hardware that is planned to be hosted in the facilities
As we find in the documentation, MinedBlock will use a mixture of ASIC units along with GPU (Mining Rigs) based equipment. The initial plan is to divide the investment among the following material, pending new releases from manufacturers:
Bitmain Antminer S15 and S17 – BTC Mining
Custom Built GPU Mining Rigs – ETH & alt coin mining
Host services at MinedBlock will use fully secure data centers.
The cryptocurrencies or tokens obtained from mining operations shall be kept in cold storage. This method is commonly used for exchanges and other services, driving away attackers on most things. Remember that cold storage is fully encrypted until it is time to make use of such cryptocurrencies or tokens.
Professionalism and transparency in the administration.
With the platform, it is intended that users/investors save time and effort. In the blockchain sector, we find thousands of crypto coins or tokens; this means that only experts can configure equipment for any mining process. Expert process management sets and maintains mining equipment. This zero-configuration process opens the door to users who do not have extensive knowledge. No client configuration is required. Careful management can successfully save high operating costs.
Interesting Links and Social Networks from MinedBlock
Web – https://www.minedblock.io/
STO Info – https://www.minedblock.io/assets/stoinfo.pdf
Facebook – https://www.facebook.com/MinedBlock/
Twitter – https://twitter.com/mined_block
Reddit – https://www.reddit.com/r/MinedBlock
Telegram – https://t.me/minedblockofficial
Tyler and Cameron Winklevoss have reached a settlement against their fellow Bitcoin entrepreneur Charlie Shrem, where the court, having been informed of the settlement between the parties, under the direction of Judge Jed Rakoff, dismissed the case. In the lawsuit, the twins had sued Mr. Shrem where they accused him in November last year of stealing 5,000 Bitcoins from them in 2012.
Charlie has had a particularly volatile career as a cryptocurrency evangelist, what with the stint he served in jail. He entrepreneur has a penchant for technology and finance and in his early years in college, founded the website dailycheckout.com selling refurbished electronic equipment that would earn him $600 a week.
He invested in Bitcoin at its infancy in 2011, at his college senior year and partnered with fellow enthusiast Gareth Nelson to form BitInstant, to help users turn dollars into Bitcoin. The company made Shrem a millionaire in his early twenties and it was responsible for more than 30% of Bitcoin transactions. He was also a founding member of the Bitcoin Foundation which has made the adoption, standardization and regulation of Bitcoin its agenda in Canada, Argentina and Australia. All this was just before he got arrested for the scandal involving flipping of Bitcoins on the dark web for illegal purposes.
Before this lawsuit, Charlie Shrem had served time and been released in 2016 for aiding and abetting a fraudulent unlicensed money transfer business , and he sent approximately $1 million worth of Bitcoins to the notorious drug website Silk Road. The website was basically described the wild west of the internet where drug deals, document forging and gun running services thrived. The founder, Ulbricht Ross, made millions in the three short years the website was operational before landing a lifelong prison sentence.
The Winklevoss twins had hired Shrem to buy Bitcoins on their behalf in 2012, and sent him $250,000 for this purpose, of which only $189,000 was accounted for. Shrem built the brothers the agreed stockpile and came up short by nearly $60,000 in Bitcoin market value at the time (one Bitcoin was $12.50). He did not divulge this information and the Winklevoss twins only realized later, after the value had increased to the tens of millions of dollars.
The brothers were suing Shrem for the return of the value of 5,000 Bitcoins which culminated to the sum of $31.3 million. The brothers noticed the theft in January 2013 and demanded that Shrem remit the difference and provide a comprehensive report on how he spent their money, failure to which legal action would be taken towards him. It is not clear why the lawsuit took 5 years to institute, my guess is that digital asset law was still a very touchy subject, especially due to its almost untraceable nature.
However, in the five year period after Shrem was contracted by the brothers, he was making large purchases in actual physical fiat in real estate, acquiring two power boats, and incredulously two Maserati in a total sum of close to $7.5 million. When the lawsuit began, investigations prompted the court to freeze Shrem’s assets and accounts temporarily and this is speculated to be the reason why the parties opted for an out of court settlement. The court ruled, upon receiving news of the settlement that the parties would have a thirty day window to reopen the suit if the settlement was not effected within that time.
Charlie Shrem’s settlement offer has not been disclosed but it is safe to say that the Winklevoss brothers are appeased enough to drop the lawsuit.
The privacy of digital data on the global network finds a new competitor in the crypto universe. From the outset, the team of P2P Solutions Foundation points out a clear global problem; anything that is digitally exchanged with anyone, anywhere, is not protected by any privacy standard. Including information exchanged on corporate networks (private intranets). Right now the vast majority of Internet and Intranet activity is constantly monitored. At certain bottlenecks, the tracked information may be sensitive to the parties. In this way, new models are needed in which the activity is properly protected.
P2P Solutions Foundation presents a data management model that respects the privacy of all parties, including users seeking to store sensitive data or to exchange it with another entity or person. In most recent years, there have been several huge data breaches. In other words, giants such as Facebook or Coinbase have recognized problems in data management. Data that ends up in the hands of third parties without user’s knowledge. In some cases, they are intentional sales. Therefore, a reliable, committed and impartial infrastructure is needed.
The innovatively engineered ecosystem provides a secure platform whereby users can exchange confidential digital files or assets. This process is completed without any interference from third parties; not even a network or system administrator. So, P2PS is a peer-to-peer platform that protects data without compromising parties. Therefore, it facilitates confidentiality to users without advanced knowledge of cryptography. At the same time, it is not limited to one function. But it can also protect, for example, your medical records, banking information, and other sensitive digital assets, during the exchange between two parties. These platforms today are simply inexistent.
This does not happen overnight, the ability to assert such solidity has its roots; an experienced group has focused on build a system for the people to exchange confidential and digital assets without third-party interference. Leading the project is Jameel A. Shariff (CEO and Board member); he is a third-generation entrepreneur and visionary, with advanced degrees from European and American educational institutions. Four years of U.S. Bachelor of Science in Business Administration (BSBM), and Master of Business Administration (MBA) in Business Administration, also from the U.S. Both BSBM and MBA were awarded to Jameel with the highest honor and distinction of “Summa Cum Laude”.
On the board we find an experienced team with Ian Scarffe as business ambassador; Ian is a renowned leading expert in the Bitcoin, Blockchain and Crypto industries, Top advisor #1 at ICObench. David Drake , founder and president of LDJCapital. Sydney Ifergan , an experienced Top Advisor #10 at ICObench as a member of the advisory board. Ken Tachibana, technical and Financial Specialist PLUS Advisor on the Advisory Board of P2P Solutions Foundation. These details are reasons of great weight, the team starts from a proven base, personalities with extensive careers, solvency, and commitment entrenched in the sector.
As a result, the P2P Solutions Foundation has received outstanding ratings from many of the leading crypto space review and evaluation sites. 5.0 in TrackICO, 4.9 in ICOBench and 4.31 in ICO Market Data. However, it is not only due to the solid team. The biggest concern of any CEO or CIO who runs a company with confidential digital transactions today is the high cost of data security. Today, cyber security breaches around the world have an enormous associated cost; it rises to hundreds of billions annually. Let’s get into the details of the platform.
The privacy of digital data is an approach with an upward trend; the concern at digital communities is proven. That’s why we consider the P2P Solutions Foundation perspective especially interesting. The fact of offering an ecosystem in which to safeguard information is needed for all kinds of people. Journalists who need to save their person or sources, governments with little infrastructure in cybersecurity and digital data management… the use cases run into thousands. Although diversity and healthy competition are necessary, this new competitor joins the existing choices of security but has positioned itself uniquely from the privacy angle.
With a solid pre-existing infrastructure, P2PS begins its journey in cryptospace. It’s the essence of operating digitally without a 3rd party or even an administrator; users get a platform where all interactions and transactions are completely safe, fast and confidential. One detail to consider is the alternative proposed to traditional centralized models. This includes a wide range of potential users ranging from lawyers to multinational companies in traditional industry sectors. Secure digitization has come from P2P Solutions. The corporative world includes billions of user accounts in a total sum of sensitive data collected.
This means an infinite number of attack vectors to privacy and confidentiality. For this reason, simple and consistent models are needed in a global economy. P2PS transfers the power of the most professional encryption to a simple user interface. Providing a fully operational platform from the first day. Once the management of confidential data is secured, the user must ensure that it is stored securely; another strength of P2PS. The platform doesn’t host a whole bunch of extravagant or unnecessary features, it’s about privacy and the responsible team prides itself in being extremely good at it. Recent cases of hacking and data breaches attest to the fundamental importance of a safe software and ecosystem. Both call for such characteristics and boost the estimated potential value of the P2PS token.
The P2PS token has been designed under the Ethereum network compatible standard. This significantly facilitates the token’s interoperability. It is also compatible with a huge range of developments based on the Ethereum network (like exchanges or dApps). After purchasing the P2PS tokens, the user in question can deposit them in a wallet compatible with standard ERC20 tokens. Including obviously the most adopted by the community such as MyEtherWallet, MetaMask, Mist, Parity, Imtoken, and so on.
The ICO event of the P2PS token takes place gradually until the hard cap is achieved. During the ICO process (already active) and its phases, the maximum collection (hard cap) is 136,000 Eth; or approximately $50 million at an average of $370 for each Ether. Considering the tokens that are given as a bonus to an average of 20% from the 50 million P2PS tokens. The Soft Cap is equivalent to $750000 (read the Pre-ICO & ICO FAQ section on the web).
As is well indicated in the documentation, the market study before the launch of the ICO suggests a positive framework. The diversified focus on three kinds of audiences generates synergies, fuelling the demand of tokens. The traditional audiences of the blockchain sector, traditional institutions seeking to digitize their systems with high technology and e-commerce places. P2PS must increase its value due to various traders, service providers and markets in countries around the world that adopt the P2PS ecosystem. Largely due to its multilingual interface, fast, easy to use & intuitive to user behavior. This means comfort, ease of use, safety, confidentiality… and many other useful features.
Many of the features mentioned are essential for the next wave of global adoption. The ISI Group Consortium is appreciated as a sponsor on the website and documentation. ISI Group is composed of multinational corporations involved in unique and innovative solutions. This is very useful for governments, education, banking, telecoms, IT, IoT and other industries. Digital file management requires first-rate infrastructure at all scales, seriousness and first level commitment. The funds raised during the token sale period (pre-ICO & ICO phases) will be used according to the described plan, which will also increase the value of P2PS.
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