Marc Faber Buys Bitcoin for the First Time

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Thailand based Swiss Investor, Marc Faber bought his first Bitcoin after admitting that he was very wrong about cryptocurrencies and blockchain technology. His premier interest of investment is emerging and frontier markets. One of the reasons he is highly regarded among many low lying billionaire investors is his knack for almost perfect market prediction trends, and his equally quick persona of admitting when his opinion was wrong. For example, in 1987, he advised his clients to get out of the market just before the Black Monday crash, saving them millions in investments. His favorite quote in his risky business in oil, gold and emerging commodities is ‘I know that I am intelligent because I know that I know nothing.

The 73 year old seasoned investor in a recent interview divulged that he purchased Bitcoin for the first time in late February since its inception. In his opinion, though his investment has been a long time coming, he trusts the cryptocurrency now more than when it had hit incredible heights of $20,000 then fell by almost 85%. He deems the cryptocurrency sector to be stabilizing now and will get better in time with the advancement in adoption and regulation.

He also stated that apart from his son, subscribers of his newsletter Gloom, Boom & Doom Report also in their feedback urged him repeatedly to invest in blockchain and crypto. His further interaction with Xapo CEO, Wences Cesares also changed his mind and he finally bought an undisclosed amount of Bitcoin.

His reluctance to invest and previous bearish attitude towards cryptocurrencies can be attributed to his old school financial track record and experience, and the traditional rationale towards digital money where it was likened to a passing fad. Although he is careful with his investment saying that one should invest only as much as he is prepared to lose, he did opine that Bitcoin or other cryptocurrencies and blockchain would eventually become the standard for future money transfers.

                  The Aerum ecosystem offers a decentralized hub

The Aerum ecosystem is presented to the crypto sector with a platform for the disruption of the sector. In itself, it resembles the increasingly common Hubs. A Hub is a space (virtual or physical) where entrepreneurs come together creating synergies. Their influence is, sometimes, so great that they convert in favor of optimizing the usual model of the sector; see both in its complete remodeling and digital replicas. This creates new paradigms in traditional sectors and opens the door to new sectors due to the great innovation that community work brings. It can be said that it offers a variety of options in most cases. And it can become a turning point for businesses with great possibilities of disappearing due to the obsolescence of their service.

The launch proposal consists of providing a complete infrastructure for financial applications without permission (free participation). These applications can serve a decentralized economy, with transactions in real time and free for consumers. At the same time, the whitepaper talks about “an almost unlimited scalability”.

 

                        Proposing scalability and performance solutions

It has been corroborated in recent years that scalability is a problem in the long term for moments of maximum participation in the network. Aerum offers a service platform ready to launch financial markets, prediction markets, gaming ecosystems through its unique offer of tokens, and more details to unveil. However, Aerum plans to become the number one platform based on Ethereum. It is not an easy challenge and will require giving the best of themselves by every member of the team.

The provision described by the project says that its participants can achieve virtually unlimited scalability. This would happen through the construction of decentralized sidechains networks. All this is due to the high performance of Aerum and the low costs, both of the ecosystem for creation or emission of markets, and of current use for users.

 

                        The Aerum ecosystem does not seek to compete with Ethereum

The goal of Aerum is not to compete with Ethereum, the giant that occupies the Top 2 of Coinmarketcap. In a different approach to competing, complementing Ethereum as a high performance dApp platform with decentralized management is the premise. Instead of a single-operator Plasma side chain. Meaning a symbiosis in the field of market creation and decentralized use cases.

Since the crypto market began its gradual decline, the list of competitors with Ethereum continues to grow. However, this complementation approach preserves the competitive spirit while creating synergy between the platforms. The Aerum roadmap includes the creation of a high-performance cross-chain DEX. So the options to interoperate are a reality. Another striking aspect is the creation of a cross-chain token payment protocol. Without a doubt, a project to take into account. It must be said that the Aerum team has not hesitated to take into account the atomic swaps.

 

                        Aerum ICO enjoys good health

Throughout 2018, the demand of investors combined with a bear market was a time bomb for ICOs. It could be noticed in the activity and volumes. A small percentage of the projects launched in the first half of 2018 reveals that the correction reached each area of ​​the sector. In the ICO model of Aerum, a division by phases or stages is appreciated. During these phases, the incentives to participate as an early adopter are gradually reduced. At the moment of the creation of the article, 4,122,639 dollars of investment in XRM tokens (Erc20) are calculated. Exceeding in a comfortable way the 3 million euros of Soft Cap (minimum collection required in order to continue with normality).

The process, which surpassed the equator of the initial sale phase weeks ago, presents some enviable numbers. The total of initial acquisition phases is 12 (of which 9 have ended). The final stage closes the ICO at a price of 0.4 ETH per 1000 XRM. It would not be surprising that it ends up reaching the Hard Cap (maximum collection). We share here a table of available bonds to reward the strong investments:

 

  1. Obtain Tokens, more than $ 500  +5%
  2. Buy Tokens, more than $ 1000  +10%
  3. Get Tokens, more than $ 5000  +15%
  4. Obtain Tokens, more than $ 10000 +20% 
  5. Buy Tokens, more than $ 20000  +25%
  6. Get Tokens, more than $ 50000  (negotiable)

 

 

Compliance with the Aerum route map

To date, each objective has been rigorously met within its stipulated period. The token can be purchased in two reputable exchanges: Latoken and ExMarkets. In the coming days, the launch of the Mainnet network will be a reality, including the implementations mentioned below:

  • Ortus v1.0.0 dxPoS consensus. 1st step implementation.
  • Delegated nodes
  • Servers for transactional gateway portals.
  • Mobile & web wallet.
  • Blockchain analysis and statistical tools.

 

                        In short, the versatility of the project together with its compatibilities offer a great ecosystem

The system described in the whitepaper facilitates transfers of tokens in a secure environment (including atomic on-chain and off-chain swaps). Therefore, a highly decentralized consensus algorithm, decentralized token exchange, software integration toolkit (fully developed for users / merchants), decentralized applications (dApps), marketplace and various liquidity providers. A complete service that will give a lot to talk about. With Aerum, any company can build a reliable, scalable and decentralized blockchain solution quickly and easily.

In the second part of the year it is estimated to have reached the third implementation of Ortus (version Ortus 1.3.0). With the third implementation, the function that has seemed most interesting is integrated, PetalChains. In short, a turnkey solution of unique scaling for Aerum. This type of scaling allows delegates to launch chains designed to scale even further. After said scaling the performance of the applications rises sharply; up to figures close to 100,000 transactions per second.

 

                        The cover letter stands out for clarity in its approach

Aerum provides an entire ecosystem designed to meet the growth of the next waves of adoption. The use of Aerum PetalChains, a multi-chain escalation solution in combination with atomic exchanges, guarantees revolutionary improvements compared to transactions in the Ethereum network. For technical and ethical reasons, for a large part of the sector it is vital to maintain P2P financial interactions. It is a surprise the choice of configuration, with free transactions in real time, building a highly decentralized platform. The intelligent contract protocol is optimized for tokenization and financial confidence.

 

                        Special features

– Aerum is a decentralized platform targeting enabling small and medium size businesses to build Fintech solutions, tokenize their economies and reward programs, enabling P2P markets.

– Aerum team developed a blockchain protocol that offers free transactions to consumer in a real-time fashion, provides stable performance and high throughput (above 800 transactions per second measured) to business participants for building dependable systems.

– Aerum had developed a cross-chain Proof-of-Stake consensus protocol with economic model built to incentivize business application owners to become Validators on the network and get access to free transaction execution to subsidize transaction costs for their customers.

– Aerum protocol is governed and powered by XRM ERC20 token, used to stake the network though use with Aerum’s governance smart contracts on Ethereum mainnet, there are 1 billion XRM tokens minted and no more can be created.

– Aerum is launching an Aerum blockchain mainnet Ortus 1.0 with its selected partners on March 20th 2019 with a firm goal to implement a first protocol upgrade ahead of schedule, by the end of April 2019, which will add important key protocol elements to the mainnet Ortus 1.1, such as: Masternodes, Aerum Hearbeat protocol, Aerum TrueChain (nothing at stake/forking attack prevention) and Stake Reward facility.

– Stake Reward Facility launching with Ortus 1.1 will be loaded with over 30% of minted tokens that will be distributed on the weekly basis to all network staking participants on pro-rata principle at rate of 0.5% of remaining tokens per week, starting with 1,500,000 XRM tokens first week of May 2019.

– Aerum is preparing to launch a B2B Cloud Blockchain company focusing on providing commercial integration, maintenance and SLA blockchain service provisioning to business participants to speed up the real business case adoption starting with its already impressive partners portfolio.

– Aerum token XRM is currently offered to purchase on LATOKEN and Exmarket launchpads until April 1st 2019, when the full trading will go live and token offering stops.

 

 

                        Connect with Aerum and explore its ecosystem in the following links:

Web – https://aerum.com/en
Whitepaper – https://aerum.com/en/white-paper
Bitcointalk – https://bitcointalk.org/index.php?topic=5039141.0
Reddit – https://www.reddit.com/r/aerum
Aerum Telegram – https://t.me/aerum_official

 

 

 

Late last year, Rapee Sucharitakul, secretary general of Thailand’s Securities and Exchange Commission revealed in a statement to local press that plans were underway to launch one ICO portal by the end of November and its approval process would begin in December.

Today they made the announcement that the portal has been approved, being the country’s first ICO portal. Thai SEC fintech director Archari Suppiroj stated that the ICO Portal launch was in line with the commerce industry and will in the near future be made available for public offering. Thai government has been very welcoming of blockchain technology and cryptocurrencies and is continuously proving to provide market opportunities.

Between June and July 2018, the country legalized seven cryptocurrencies Ripple, Stellar, Bitcoin, Ethereum, Ethereum Classic, Bitcoin Cash and Litecoin. In addition, the SEC granted additional digital tokens permission to apply and further classified ICOs into three groups; cryptocurrency, utility tokens and investment tokens.

The regulation of cryptocurrencies in Thailand came with a wave of support from crypto investors in the country who predicted that it would open up Thailand to institutional money and financial innovation. Thai Central Bank joined together with several other banks to work on a prototype platform that would allow domestic funds transfers using their very own cryptocurrency that they had planned to launch at the start of 2019.

Thai’s revenue department had earlier also incorporated blockchain technology into their taxation system to solve tax avoidance. That is not all, they also adopted the technology into their taxation system, that made Thailand’s Democrat Party the very first political party in the world to use blockchain to facilitate e-voting in active elections.

 

The news that the US SEC deemed Ethereum not a security is not surprising at all. Some may ask why this is so despite the fact that Ethereum is the best performing cryptocurrency with a current market cap of $14 billion, second only to Bitcoin $68.8 billion as at the time of post. The decision by the SEC however is not news as the same had been announced some time in 2018.Why does Ethereum not fit as a security? Let us have a look at some of the reasons why SEC came to this conclusion.

What constitutes a security?

A Supreme Court ruling in 1949 set the rules as to what characterizes securities, known as the Howey Test. In a summary of the case, two corporate defendants based in Florida offered real estate contracts for portions of land with orange trees. The defendants offered prospective buyers an option to lease any purchased land back to the defendants, who would tend to the land, harvest, pool, and market the orange yield. Coincidentally, most of the buyers were not farmers and did not have interest or the agricultural expertise, and were happy to lease the land back to the defendants. However, the U.S. Securities and Exchange Commission (SEC) argued that this was illegal practice and the defendants were promptly sued.

Since the defendants had not filed a securities registration statement according to the SEC, they had broken the law. The Supreme Court at the time launched investigations as to the agreements signed between the defendants and the purchasers of the land and they concluded that the leaseback was indeed a security. The case was a landmark decision that helped develop attest to determine which transaction constitutes an investment or not, and if it is then it will be subject to securities registration requirements.

The said transaction is an investment contract if it fulfills the following criteria:

  • It is an investment of money or exchangeable for money
  • The investment is in a common enterprise and therefore tradable.
  • There is an expectation of profit from the work of the promoters or the third party.

As for the term ‘money’, the definition is not exactly limited to that term and could include other assets that fulfill the other two conditions. It is also important to note that if the profits that emerge from an investment contract are only deemed a security if they are not controlled by the investor, but by a third party.

Ethereum fails as a security due to the friction between the transactions and asset ownership. The platform implements smart contracts coined the ERC-20, which completely eliminate the third party efforts to effect traditional contracts. William Hinman, Director of SEC division of corporate finance , stated that the decentralized nature of the Ether transactions do not qualify as securities since the efforts of the third party are no longer a factor to determine the success of the enterprise.

This test is relevant to ICOs especially because of the fact that regulation has been slow and uncertain. As such, the SEC feels that deeming Ethereum a security is counterproductive as ICOs are used for crowd funding and are usually designed to work as the projects’ final product and not necessarily to generate future profits or ownership in a company.

Recommendations

In revision, the decision leaves room for innovation and maybe in future, Ethereum and other cryptocurrencies can cross the threshold into being treated as securities if they deliver a future token to investors or tokens that represent a certain future profit based on the efforts of a contacted developer. Another way to allow them to be classified as securities is to probably change the programming model that effects smart contracts to include financial primitives such as equity, debt, risk, dividends and payments.

 

 

 

 

Remember the news that beguiled cryptocurrency exchange company, QuadrigaCX CEO Gerald Cotten died, and took the whereabouts of more than $135 million with him to his supposed grave leaving thousands of its account holders without a way to recover their coins? The story made headlines of ridiculous proportions and raised too many questions regarding regulation and trust issues as far as cryptocurrency exchanges are operated, one of them being how one individual could be the sole custodian of important access logins and passwords.

When his wife swore an affidavit, she claimed that her deceased husband had all the logins and passwords to thousands of accounts encoded into his computer that could access millions of dollars in a curious case of being overly cautious about security issues after major attacks were launched against cryptocurrencies last year. It became very frustrating when even forensic experts were faced with limited access when they tried to decrypt the computer which severely compromised the company’s access to currency.

Needless to say that the news did not sit well with its thousands of its wallet holders who decried the exchange as a scam due to the unbelievable circumstances. Most crypto community members even questioned if the CEO was dead and called for class action lawsuits against the exchange, prompting the directors to issue a statement on January 31st. The statement alluded that the company was looking to the Nova Scotia court for creditor protection as they try to address the liquidity challenge and serve their customers. As at time of post, these efforts are still unsuccessful.

In the wake of the above events, Gemini founders, the Winklevoss twins have embarked on a campaign to call for regulation and review of the trust issues surrounding cryptocurrencies to avoid a situation such as that suffered by QuadrigaCX. They warned that in such a quickly evolving technology, users will keep losing vast amounts of investment due to lax and slow progress towards regulation.

At the same time, the advocated for their own crypto exchange company saying that the company is more user friendly and offers multi-level security account protection services, especially one major characteristic of blockchain technology is eliminating the third party trustees. Their case is not unfounded as the company is fully registered, compliant and as at the time of launch five years ago, they had the highest levels of reserves, which was a complete opposite from all other exchanges that followed the Bitcoin blueprint.  

Here is why the Winklevoss twins are confident that their crypto exchange is a better fit:

  • It allows for international bank transfers which is not provided by most cryptocurrency exchanges due to the risks involved.
  • Their customer support system is the best so far as they provide even minute details that customers may come up with and it is done in detail. They also allow customers and prospective customers submit their questions via email.
  • The exchange platform offers a two factor authentication 2FA that pushes ups the security of a users’ account.
  • Gemini holds vast amounts of Bitcoin and Ethereum in offline wallets and very little amounts online which largely reduces the ever present risk of an attack like that suffered by Coinbase and Quadriga. Also, it allows them to maintain high liquidity.
  • The exchange does not offer a minimum investments but encourages account holders to invest whatever amount they are comfortable with at their own discretion and increase the amount over time.
  • It has an auctions feature, very much like the stock exchange auction, where large amounts of crypto-assets are traded in the short time. For the exchange to have this feature that is inherently very risky practice, can be banked on their confidence in their liquidity in the event of a crisis. So far they have been very successful.
  • The cryptocurrency exchange company functions in over 45 states in the US, with offices in Singapore, UK, Hong Kong, Canada and South Korea. And in its history since inception, the company has managed to grow this much without a single hacking incident which is pretty impressive.

The Winklevoss brothers in a statement yesterday said that regulation and security procedures will also allow the price of cryptocurrencies like Bitcoin and Ethereum, the top coins by market cap to increase. Kindly note that this article is not conclusive but due diligence is recommended for our subscribers before they can invest their money with Gemini.

 

In a recent report submitted to the UN, North Korea is accused of accumulation more than half a billion dollars in cryptocurrency. The country is basically a stand-alone pariah due to the tough regime by Dictator Kim Jong Un, which has seen the country suffer economically and get sanction upon sanction and cut off from the global economy. It is therefore not so surprising to hear that the country is slowly accumulating millions in cryptocurrencies.

The regime has had a hand in a few suspicious economic activities fueled by its tight control of its military and intelligence capabilities; that are normally fueled towards funding personal coffers of the Pyongyang elite. In September of 2018, CCN posted an article review of the cryptocurrency atmosphere in North Korea and stated that the country is using crypto assets to circumvent US sanctions.

The country’s mining activities were estimated to earn it between $15 and $200 million which they then push into different international exchanges, mixing and scrambling their services which mask their intentional exploitation of financial institutions that have fostered banking relationships with the United States. That notion pales in comparison to the shitstorm that was the Coincheck hacking scandal that was believed to have been sponsored by Kim Jong Un himself. The UN quoted that Cryptocurrencies will help the country to evade sanctions primarily because crypto is largely untraceable and independent of government regulation.

North Korea’s Office 39 was reported to have used malware commonly refereed to spear phishing to attack South Korean cryptocurrency exchanges to steal Bitcoin in 2017. This reckless ballsy move followed sanctions imposed by the UN against textile exports and severe capping of their fuel supplies. Not to add that the country has positively been identified as a criminal regime due to its nuclear weapon testing and manufacture. The country has invested billions into their military and chemical weapons and literally neglected everything else in the efforts to be the world’s nuclear superpower.

On a different perspective, maybe the sanctions are counterproductive since they do not really the country’s elite who only work to line their pockets but the sanctions hurt the already critically oppressed North Korean population. It is a warped way to curb the efforts towards nuclear funding. That is why it is not surprising that the country gravitated towards digital assets. But, the blame is not entirely on cryptocurrency because North Korea weapons of mass destruction agenda has existed for a long time. Digital assets merely provided technological advancement and a different avenue to do that especially because of its value that makes it the most attractive option.

In a report earlier this year, financial reviews and the experts at satellite imagery investigating North Korean nuclear plants revealed that the sanctions levied against the country have done very little to stop the manufacture of missiles and warheads. There has simply not been significant political of economic pressure to stifle chemical weapons production.

What North Korea is doing is not unwarranted considering it’s the same thing that is happening in Venezuela. The country has fallen to such economic depravity due to the level of corruption that even its own citizens fled the country as it was impossible to survive. Enter cryptocurrencies which offered a lifeline to those who could access it and invest in it. In many ways, Venezuela and North Korea are similar, for example their weakened population has no time to protest the gross economic indiscretions of the regimes if they are struggling to eat or get healthcare. One economics journalist, Tim Padgett, even referred to President Maduro the Caracas Kim back in 2017.

Many countries doing what North Korea is doing are motivated by currency crises and preposterous hyperinflation of their individual currencies. Such like Zimbabwe, Iran, Turkey and Argentina. Only difference is that these countries do not really pose any kind of threat such as North Korea which is potentially capable of causing world war three.  

 

 

 

 

Fidelity Digital Launches Digital Assets Trading

Fidelity Investments has been making plans to roll out a crypto asset platform to include trading for the top cryptocurrencies. In October, the company had said that it would be launching a separate company called Fidelity Digital Asset Services. Head of Fidelity Digital Assets, Tom Jessop had earlier stated that the company was taking a customer driven approach since the larger component of their client base were interested in Bitcoin and Ethereum trading as the two cryptocurrencies currently dominate market cap.

The platform was to be rolled out in March of 2019 but as the time of post we still do not have concrete news. Updates will be put up as soon as the platform is launched. The company already had a digital assets LLC and the question was only if the company would include cryptocurrency trading onto their business, and they wanted to provide a trusted service platform for their clients.

Morgan Creek Institutional Funding

Last month Morgan Creek announced that it had gotten funding for $40 million for a venture capital that they intend to invest in blockchain start-ups. What caught the attention of the crypto community was the big names of the investors that came up with the figure. They turned out to be Virginia State Police and public employee retirement funds. The other investors include a university, insurance company, a hospital system and a foundation.

The investors actually control assets in the figures of billions of dollars and $40 million may not seem much but it is astride in the right direction if institutions are willing to bet on blockchain and cryptocurrency trading. One of the partners at Morgan Creek, Anthony Pompliano addressed the issue and stated that the company may not be able to hold large amounts of cryptocurrency, but will look into taking early equity positions in blockchain start-ups.

Venture capital investment is very risky as most of these start-ups generally fail but his argument is that blockchain technology is evolving and being talked about everywhere in the financial sector. He argues that even if it could take years, the investment will definitely pay off. Having institutional money invested into crypto is a huge win even though it may not play a role in affecting the prices of cryptocurrency, it healthy for the crypto economy.

Facebook

Social media company, Facebook will not be left behind in the mad rush for digital tokens between the internet’s messaging applications. As of December, the news was out that Facebook would first take its focus into the Indian market. The transfer of funds will be done through Whatsapp which Facebook acquired in 2014. The reason the focus is pegged on India is because the country has the highest remittance market as well as a very large number of Whatsapp users of over 200 million.

Facebook had set up its blockchain team last year after publicly advertising positions they intended to hire in software engineering, marketing and data science to further their agenda. In early January, Facebook acquired the team from London’s Chainspace and proceeded to approach different crypto exchanges regarding listing their own coin.

There are however questions raised as to Facebook’s privacy issues and they have a heavy task of convincing users to get on board with the blockchain project they intend to launch on Whatsapp. In my opinion, Facebook is counting on its phenomenal user scale compared to Telegram which is also rolling out its cryptocurrency agenda and has raised around $850 million so far to back the project, but can they trust Facebook with their money?

So far, Facebook is not entirely forthcoming with the complete process but they are obviously throwing resources towards this project if their recent crypto history is anything to go by. It will be quite interesting to watch how the whole thing unfolds and if it will work or gain traction among users and provide competitive ground.

 

Three weeks ago on Valentine’s Day, JP Morgan Chase launched their very own crypto coin, ‘JPM Coin’ the first of its kind to be backed by a major US bank. The banking giant has an impressive daily trading capacity of $6 trillion. The bank hopes to use the cryptocurrency to settle payments between their clients. Following the launch of the coin, JP Morgan Digital Services Head Umar Farooq, stated that the bank fully supports cryptocurrency and blockchain technology as long as they are properly regulated.

How will it Work?

JPM Coin is exclusively for internal use and will be used to facilitate transfer of payment between institutional accounts and is not for retail customers. To be clear, the coin is not a cryptocurrency but a stable coin specifically for the in-house use of the bank. The coin will run on the bank’s blockchain platform, Quorum, which is a private and permission platform meaning that the users will have to get the permission from the bank itself.

One interesting fact about this coin is that it is in direct competition with Ripple, which currently holds the third highest market cap. Ripple has also been providing similar services of global funds transfers and payments, made using their own stable coin XRP. For the moment, the coin is strictly for payments and fund transfer between businesses that have accounts with the bank.

Advantages of JPM Coin

By JP Morgan taking the step toward adoption of blockchain technology, some financial and tech experts say that the move instills confidence in its clients. According to fintech industry group head at the law firm of Duane Morris Ms. Cindy Yang, having a system that is solely controlled by the bank itself eliminates the question of security and regulation. The move by the bank will push other financial institutions to do the same and create a healthy competition zone.

Also, having a centralized system limits the level of exposure, as there is security for its brand as a bank and the same on the balance sheet. In retrospect, there is no harm in having a centralized system since financial records of this nature are up to the discretion of the user and the bank as the trustee.

The move by the bank to launch a coin for its customers to make payments across the world and quickly is seen as a positive break towards further adoption. A case could be made that if more banks can do the same, it would open opportunities to make the technology used by these banks more accessible in future. It could even create retail opportunities if the banks extend the blockchain technology.

Exceptions

Blockchain technology is decentralized in nature but this is not the case with the coin JPM. Experts are concerned that the bank may not have needed the coin at all as even the blockchain platform they are using is controlled by the bank. They even disqualified it as a cryptocurrency altogether, according to one forward tweet by crypto pioneer Nick Szabo (@NickSzabo) where he stated that the coin was not decentralized, not borderless, not open and therefore did not meet the threshold of cryptocurrency qualifications.

Nouriel Roubini (@Nouriel) backed the same and tweeted that JPM is a joke to say the least, as everything about it goes against the basic principles of cryptocurrency and blockchain. From the permissions, to the private controlled blockchain, the nose of JP Morgan in the transactions and the fact that the whole thing is privatized and its not accessible to the public.

Ripple CEO Brad Garlinghouse (@bgarlinghouse) tweeted his disappointment at JP Morgan missing the point and still trying to control the way cryptocurrencies work but from a misguided point of view. He tweeted that banks may be changing their attitude towards cryptocurrencies but JPM Coin is moving in a completely opposite direction and skewing the meaning of cryptocurrency and causing confusion.

David Gerard, author of the ‘Attack of The Fifty Foot Blockchain’ is of the opinion that the bank did not even need a blockchain platform at all. According to him, the bank could do exactly the same thing on their very own data base and they are just using the excuse of faster transactions to delve into blockchain and cryptocurrency.

 

Coinbase, one of the largest crypto firms, has been under attack since they announced their acquisition of blockchain platform Neutrino on February 19th 2019. The protest from angry Coinbase subscribers comes up because of Neutrino’s shady past. As at the time of post, angry Coinbase fans have started a movement on twitter to delete their accounts with the company as the move is not trustworthy and they were not informed about it beforehand. At first it looked like a casual business move but as soon as the identity of the bought out company was revealed, all hell broke loose.

Neutrino founders and majority of the employees were part of Hacking Team, an Italian company started in 2016 that more than once was caught selling spyware applications to governments accused of gross human rights infringements. In fact on their website, the openly declare that their spyware is offers solutions for law enforcement and financial services. Its two programs, XFlow and nSpect, offer ‘comprehensive solutions for tracking and analyzing cryptocurrency flows across multiple blockchains.’

According to users, the history behind Neutrino will serve to taint the reputation of Coinbase and its loyal user base is not having it. CCN actually termed Neutrino as a ‘notorious spyware creator’ and that the merger threatens the security of Coinbase users. The company used to develop applications that allow law-enforcement, security organizations, governments and financial institutions track transactions on the blockchain platform to investigate them.

Back in 2003, Hacker Team three man gang consisting of CEO Russo Giancarlo, CTO Alberto Ornaghi and CRO Marco Valleri were the brains behind developing a Trojan Horse form of spyware that was used in oppressive regimes in Saudi Arabia, Ethiopia, Morocco, Bahrain, Turkey and Kazakhstan to remotely access files, emails and passwords of the targeted individuals they deemed to be enemies of the regime.

Hence the #deletecoinbase campaign. Users feel that Coinbase has intentions to strip away their privacy despite whatever reason they have for using cryptocurrency. This is hot on the heels of the fight that Coinbase put up when government entities requested that they had over user records. Having seen the route that too much scrutiny brings, it’s obviously presumable that Coinbase would think twice before taking on the acquisition and steer very far away from it (oh and Neutrino maintains a separate entity). Maybe if Neutrino had not been involved in half-truths and questionable operations we could have viewed their trademark multi blockchain traceability differently.

Coinbase released a statement following the acquisition to address the concerns raised on social media and in general by clients and the crypto community. They acknowledged Neutrino’s controversial past and stated that they in no way condone their previous infringement applications but that they intend to bring on board that technology to better protect their customers’ interests and manage the risks involved in crypto economy.

Users are not really buying this idea since the practices by Neutrino are directly in conflict with the censorship resistance of crypto trading and blockchain technology. In 2016, Hacker Team earned a bad reputation for targeting political journalists and vocal activists in Ecuador and Mexico who opposed the government and were referred to as ‘enemies of the internet’.

The question on the boycotting users of Coinbase is that the crypto company has not addressed how it intends to curb the risky consequences of privacy breaches and the potential abuse of such technology by the company. What are your thoughts on the company analyzing the data stored in the blockchain to improve tracking of transactions? Do you think that the only way they could do this was buy adopting Neutrino’s technology? Is Coinbase really ready to apply the technology on its database? Why is it that even after acquisition, Neutrino will be an independent part of Coinbase and does it mean that Coinbase will have restricted access?

 

 

 

 

DRIFE, a solution to centralized ride-hailing

Drife.one introduces the DRIFE platform, a decentralized transport ecosystem powered by the blockchain. DRIFE’s objective is to disrupt the existing ride-hailing business model and eliminate the corporate intermediaries involved in the transactions. It’s also a system designed to empower the value creators of the ride-hailing ecosystem. In the emerging market of private transport services, these value creators include drivers and community developers.

Private transportation platforms have created a new paradigm for the industry. Unlike the taxi industry, the type of customers has changed. The current obsolete taxi model has been a hot topic in Spain (still an unresolved conflict) and also in many other areas. The basic needs may not have changed, however, our specific needs do.

Technology has created new emerging markets, new needs and therefore new niches. However, in this comparative framework, traditional taxi systems have hardly changed their way of operating. At the same time, viable alternatives have varied the model in a scarce, insufficient way.

 

Advantages of the DRIFE platform over the current model

Taxi companies regulated by states or transport authorities have evolved very little. This has made things difficult, the scant adaptation of the business model for all parties is clear. This leads to various problems, income gains minimized under pressure, drivers suffering from strict labor policies, and to top it all, this added to slow and expensive bureaucracy. Thus we find several points to review.

Generally, the major value creators in the transport service chain are oftentimes taken for granted which makes the problem linger and complex even more.

DRIFE is focusing its efforts on changing the trend by creating a global standard service capable of restructuring the ride-hailing ecosystem within the transport sector. This is where the advantage of blockchain technology comes in. Once introduced, it is capable of disrupting systems and restoring balance to the economic system.

Competition within the ecosystem may already be fierce as leading industry giants like Uber have far reaching market influence. However, the advantage DRIFE holds lies heavily on its decentralized

methodology and governance structure based on the blockchain technology, which is expected to accelerate DRIFE’s objectives once it enters the market.

 

 

The model proposed by the DRIFE platform

In the initial stage, one of the incentives introduced will play an important role. Nowadays, in many real scenarios, drivers see their own colleagues as direct competition. This breaks collaborative community relations, disempowering its members as a final result. Drivers in DRIFE’s ecosystem receive incentives for introducing other drivers to the platform, thereby fostering the growth of the service.

At the same time, it creates synergies for community building among drivers, an essential part for the creation of value and consensus. Since payments for service on the platform is conducted via peer-to-peer (P2P), intermediaries are eliminated alongside their unreasonable commissions.

This is by nature an improvement of the service, including social benefits. Better insurance associated with vehicles is a case of social benefit (for all parties), and is only possible in a scenario in which the driver can afford to pay. Empowering the driver, again, results in better service and better legal coverage for the parties.

As it is well stated in the Drife.one whitepaper, ride-hailing is essentially a cloud-based business. Unlike the traditional taxi industry, the successes of these platforms depend to a large extent on user experiences (UX) and the design of the user interface (UI). Two very complementary elements that play important roles in any ride-hailing platform.

Drivers and passengers are two essential parts without which the business model would not make sense. However, everything works well thanks to the diligent efforts of the developers. This completes the circle. In a consolidated digital revolution, developers are vital for everything that happens “behind the scenes” materialized without influencing the final experience consciously for the user. Everything on the platform should always work seamless as far as the end users are concerned.

 

The importance of developers in the new digital era

The developers, on the DRIFE platform, have the potential to create useful facilities within the application. This tends to improve the riding experiences, and therefore, optimize the ecosystem. Developers can also detect and correct mistakes, unfortunately, on the developer’s side, this is often overlooked.

In a case where the development of displacement / transport applications is outsourced, it is easy for developers to decide not to intrude. Sometimes, once the deadlines are met and the product is delivered, the relationship is cut off imminently. Generally, the fact is simply due to a lack of motivation.

The DRIFE Platform Aims to Disrupt the Transport Sector

 

DRIFE, a solution to centralized ride-hailing

Drife.one introduces the DRIFE platform, a decentralized transport ecosystem powered by the blockchain. DRIFE’s objective is to disrupt the existing ride-hailing business model and eliminate the corporate intermediaries involved in the transactions. It’s also a system designed to empower the value creators of the ride-hailing ecosystem. In the emerging market of private transport services, these value creators include drivers and community developers.

Private transportation platforms have created a new paradigm for the industry. Unlike the taxi industry, the type of customers has changed. The current obsolete taxi model has been a hot topic in Spain (still an unresolved conflict) and also in many other areas. The basic needs may not have changed, however, our specific needs do.

Technology has created new emerging markets, new needs and therefore new niches. However, in this comparative framework, traditional taxi systems have hardly changed their way of operating. At the same time, viable alternatives have varied the model in a scarce, insufficient way.

 

Advantages of the DRIFE platform over the current model

Taxi companies regulated by states or transport authorities have evolved very little. This has made things difficult, the scant adaptation of the business model for all parties is clear. This leads to various problems, income gains minimized under pressure, drivers suffering from strict labor policies, and to top it all, this added to slow and expensive bureaucracy. Thus we find several points to review.

Generally, the major value creators in the transport service chain are oftentimes taken for granted which makes the problem linger and complex even more.

DRIFE is focusing its efforts on changing the trend by creating a global standard service capable of restructuring the ride-hailing ecosystem within the transport sector. This is where the advantage of blockchain technology comes in. Once introduced, it is capable of disrupting systems and restoring balance to the economic system.

Competition within the ecosystem may already be fierce as leading industry giants like Uber have far reaching market influence. However, the advantage DRIFE holds lies heavily on its decentralized methodology and governance structure based on the blockchain technology, which is expected to accelerate DRIFE’s objectives once it enters the market.

 

 

The model proposed by the DRIFE platform

In the initial stage, one of the incentives introduced will play an important role. Nowadays, in many real scenarios, drivers see their own colleagues as direct competition. This breaks collaborative community relations, disempowering its members as a final result. Drivers in DRIFE’s ecosystem receive incentives for introducing other drivers to the platform, thereby fostering the growth of the service.

At the same time, it creates synergies for community building among drivers, an essential part for the creation of value and consensus. Since payments for service on the platform is conducted via peer-to-peer (P2P), intermediaries are eliminated alongside their unreasonable commissions.

This is by nature an improvement of the service, including social benefits. Better insurance associated with vehicles is a case of social benefit (for all parties), and is only possible in a scenario in which the driver can afford to pay. Empowering the driver, again, results in better service and better legal coverage for the parties.

As it is well stated in the Drife.one whitepaper, ride-hailing is essentially a cloud-based business. Unlike the traditional taxi industry, the successes of these platforms depend to a large extent on user experiences (UX) and the design of the user interface (UI). Two very complementary elements that play important roles in any ride-hailing platform.

Drivers and passengers are two essential parts without which the business model would not make sense. However, everything works well thanks to the diligent efforts of the developers. This completes the circle. In a consolidated digital revolution, developers are vital for everything that happens “behind the scenes” materialized without influencing the final experience consciously for the user. Everything on the platform should always work seamless as far as the end users are concerned.

 

The importance of developers in the new digital era

The developers, on the DRIFE platform, have the potential to create useful facilities within the application. This tends to improve the riding experiences, and therefore, optimize the ecosystem. Developers can also detect and correct mistakes, unfortunately, on the developer’s side, this is often overlooked.

In a case where the development of displacement / transport applications is outsourced, it is easy for developers to decide not to intrude. Sometimes, once the deadlines are met and the product is delivered, the relationship is cut off imminently. Generally, the fact is simply due to a lack of motivation.

The model of this project offers an incentive model for developers, which in turn amplifies their worth within the value chain. This is one of the core advantages of the DRIFE platform – an inclusive model for all parties based on the long-term vision.

 

The IEO token is now available with four bonus stages

In the case of the IEO token, the acquisition stages for early investors are four. After completing the first phase of the four stipulated (the private sale), the IEO token can be purchased now. Currently it is in its second stage (presale).

 

The base value set without bonuses is $ 0.25. Those interested in participating get a bonus of 20% (price of the IEO token during said bonus, $ 0.20 / token) during the remaining period of phase 2; which ends at the beginning of March, giving way to the next phase (Sale 1) on March 10. During sale 1 (third phase) the bonus period will be reduced by 5%. In this way, sale 1 is subject to a + 15% bonus on the fixed base price. Finally, the last bonus period begins on April 10; during the last period (sale 2) the acquisition of tokens will be rewarded with an extra 10%.

 

If you want to know the aspects of the project in much more detail, we invite you to review the public documents about the DRIFE project. You can find much more extensive information, such as the distribution of the funds collected in the whitepaper. Related market studies and all kinds of details are also available on their website.

 

 

Website & Official links – DRIFE (IEO)

 

Official website – https://www.drife.one/
Connect with DRIFE – https://t.me/Drife_officialchat
Follow DRIFE in Twitter – https://twitter.com/Drife_official
DRIFE official Facebook – https://www.facebook.com/drife.official/
Profile & posts inside – https://medium.com/@drife_official
Whitepaper – https://www.drife.one/wp-content/uploads/2019/02/Drife-Whitepaper-v1.2.pdf

 

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