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Friday April 27 2018, Daily News Digest

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United States

There are now 17 million bitcoins in existence — only 4 million left to ‘mine’ (CNBC), Rated: AAA

More than 80 percent of the bitcoins that will ever exist have now been created.

The 17 millionth bitcoin was “mined” Thursday, according to data from Blockchain.info, more than a year since the number of coins topped 16 million. But only 21 million bitcoins will ever exist, according to the design of the cryptocurrency’s anonymous founder known as “Satoshi Nakamoto.”

Let’s Not Destroy Bitcoin: What’s Wrong With MIT Technology Review’s Article (CoinTelegraph), Rated: AAA

On April 24, the MIT Technology Review published an article with a catchy headline, titled “Let’s Destroy Bitcoin”. The Internet was quick to react: media and bloggers started to spawn news, features and videos, reacting to “MIT professors” who supposedly called upon action against the world’s biggest cryptocurrency.

“Let’s Destroy Bitcoin” is a part of Technology Review’s special issue on the future of cryptocurrencies and Blockchain. In a letter named “A Technology in Turmoil”, the editor explains the concept behind this series, mentioning that in the midst of initial coin offering (ICO) crackdowns and decrease in cryptocurrencies values – when compared to their best months in 2017, “a casual reader of the news might be forgiven for thinking that Blockchain mania is over”.

Ripple Says Sales of XRP Cryptocurrency Rose 83% In Q1 (CoinDesk), Rated: AAA

According to a post on the firm’s site, released Wednesday, the company sold $167.7 million worth of XRP in the first three months of 2018, an increase of 83 percent compared to the previous quarter and of 2,400 percent compared to the first quarter of 2017.

Ripple To Make Huge Announcement By 25th Of May (Cryptodaily), Rated: B

YouTuber ‘Genius Trader’ has recently uploaded a video in which he claims Ripple could fly past $11.00 by the 25th of May, due to a potentially huge announcement.

What Crypto Investors Can Learn from Billionaire George Soros (CoinDesk), Rated: AAA

For those unfamiliar with this powerful palindrome: In the world of economics and finance, Soros is feared and known as “the man who broke the Bank of England” when he made $1 billion in one day, September 16th, 1992 (known as Black Wednesday). This is one institutional player with the ability to go large and make or break a currency … even a digital one.

Soros has attributed his success in part to his understanding of what he calls reflexivity. In simple terms, this theory states that investors base their decisions not on reality but on their “perception” of reality.

Reflexivity connects any two or more aspects of reality, setting up two-way feedback loops between them. In this way, actions resulting from each reality, the objective and the subjective, will affect investors’ perceptions, and therefore prices. Soros has cited the global financial crisis of 2008 as an illustration of the theory.

Why Nasdaq’s interest in cryptocurrencies doesn’t mean anything — yet (The Next Web), Rated: A

The biggest benefit of mainstream giants jumping into the cryptocurrency industry is simple — it lends legitimacy to the space and helps get more people talking about it and helps increase its acceptance among a wider audience.

A company professing its interest in participating in the industry only if the hardest challenges surrounding it are tackled first doesn’t spell good news for the community.

Is Stablecoin the Answer to All Cryptocurrency Problems? (Investopedia), Rated: A

Stablecoins are a new breed of cryptocoins that are gaining popularity as they aim to tackle the problem of cryptocurrency volatility. Popular stablecoins include Tether, MakerDao’s DAI, Basecoin, and TrueUSD. This article looks at what stablecoins are, how they work, how they ensure price stability, as well as their potential.

Fiat-collateralized stablecoins: These stablecoins use a particular amount of a standard fiat currency, like the U.S. dollar, as collateral to issue cryptocoins. Other forms of collateral can include precious metals like gold and silver, as well as commodities like oil.

Crypto-collateralized stablecoins: Crypto-collateralized stablecoins are similar to fiat-collateralized stablecoins, except that their underlying collateral is another cryptocurrency instead of a real-world tangible commodity or a fiat currency.

Non-collateralized stablecoins: These stablecoins are not backed by any collateral, but operate in such a way that they are expected to retain a stable value.

Coinbase Cannot Force Noncustomers to Arbitrate Suit Alleging Violations of BSA/AML Duties (The National Law Review), Rated: A

Earlier this week, the Eleventh Circuit affirmed, in an unpublished opinion, that Coinbase Inc., an online platform used for buying, selling, transferring, and storing digital currency, could not compel arbitration on a former customer of Cryptsy, a now-defunct cryptocurrency exchange, in his proposed class action suit alleging that Coinbase helped to launder $8 million of Cryptsy customers’ assets. Leidel v. Coinbase, Inc., Dkt. 17-12728.

In so holding, the Court found that the plaintiff’s allegations emanated not from the User Agreement between Coinbase and Cryptsy’s CEO, Paul Vernon, but from extra-contractual duties “allegedly” found in federal statutes and regulations, specifically the Bank Secrecy Act (“BSA”).  As we previously have blogged, courts have held that financial institutions generally do not owe a duty of care to a noncustomer and that no special duty of care arises from the duties and obligations set forth in the BSA absent a special relationship or contractual relationship.

10 Things That Should Scare You About Investing in Cryptocurrencies (The Motley Fool), Rated: AAA

Last year was truly something special for the cryptocurrency market. The aggregate value of all virtual currencies soared nearly $600 billion, increasing in market cap by more than 3,300%. This likely represents the single-greatest year ever for any asset class, and we may never see anything like it again, at least during our lifetime.

  1. There are no fundamental metrics to properly value virtual tokens
  2. Regulation is piecemeal, at best
  3. Limited protection against fraud
  4. Extreme volatility
  5. The proof-of-concept conundrum
  6. No ownership in what actually matters

See the rest at The Motley Fool.

The Mostly Unspoken Hurdle to a Government Supported Cryptocurrency (Payments Journal), Rated: A

This article in ComputerWorld provides a great snapshot on government adoption of anonymous cryptocurrencies. Technologists here argue that deployment of an anonymous cryptocurrency is in our future, yet none explain how existing anti-money laundering legislation will be addressed.

Crowdfunder Lists First ICO: Augmate Aims to Raise $ 32M (Crowdfund Insider), Rated: A

Augmate expanded its initial coin offering onto Crowdfunder, reportedly the first ICO on the crowdfunding site, and a milestone for both companies. The offering, structured as a security token in a nod to recent Securities and Exchange Commission guidance on ICOs, gives investors a chance to own a piece of a unique IoT device management platform powered by distributed ledger technology. At this writing, Augmate has already raised $12M toward its $32M goal. Rothenburg Ventures is listed as a key investor in the ICO.

AMD Avoids Plunging Cryptocurrency Prices, Stock Leaps 14% (Fortune), Rated: A

But with AMD’s first quarter report issued on Wednesday, not only sales exceeded expectations, with a 40% jump to $1.65 billion. AMD also showed a four percentage point improvement in its gross margin, to 36%, and operating income of $120 million up from just $11 million a year ago.

AMD’s stock, which has been on a rollercoaster this year, jumped 14% on Thursday in midday trading to $11.08. That’s still well down from the 10-year high of $15.65 hit last July, but 16% higher than the price just two weeks ago.

Bitcoin Cash Turns It’s Crosshairs On Litecoin (CryptoDaily), Rated: A

We know Bitcoin Cash and Bitcoin Core regularly clash heads with their very conflating attitudes on what cryptocurrency could be, but generally as Litecoin and Bitcoin Cash have similar goals (fast, simple, well adopted, real life transactions) we have never really seen a significant level of tension between the two groups, other than of course the standard keyboard warrior instances this industry seems to foster.

What Does This Tweet From The Litecoin Foundation Mean? (CryptoDaily), Rated: A

Litecoin

Blockchain-based Ad Service Revolution: Crypto Answer to Social Media Bans (CoinTelegraph), Rated: AAA

According to the Interactive Advertising Bureau (IAB), digital advertising revenues in the US totalled $40.1 bln in their 2017 half-year internet advertising revenue survey conducted by PwC – with a an estimate of $85 bln in revenue for the full 2017 calendar year.

AdAge cited a report from Pivotal Research that estimated the two giants totalled 73 percent of all US digital advertising revenue in the first half of 2017.

digital advertising
Source: CoinTelegraph

IT giant IBM and online media platform Salon have partnered with Adledger to pilot a Blockchain proof-of-concept called “The Campaign Reconciliation Project” (CRP).

Another big industry player, the Dow Jones Media Group (DJMG), is also exploring the possibilities of a Blockchain-based advertising solution for its content brands.

Achain Ushers In the Future of Blockchain, Looks To Overtake Ethereum in Two Years (PR Newswire), Rated: A

Popular Chinese blockchain startup, Achain, enters the US market to solve the largest pain point in blockchain today, scalability, using the hard forking method.

Achain allows users to create their own customizable blockchain system tailored to their own needs. In addition, there are tools and a technical support team available to make it very easy for people to build on the platform.

U.S. Chamber Warms To Blockchain, Fintech Solutions At Capital Markets Summit (Forbes), Rated: A

The world’s largest business group is taking a heightened interest in blockchain solutions and capital formation methods, particularly as the pace of commerce hastens and the landscape for traditional initial public offerings becomes murkier.

IBM Reimagines Proof-of-Work for Blockchain IoT (CoinDesk), Rated: B

IBM is seeking to patent a method for ensuring that a network of connected devices can securely execute blockchain-based smart contracts.

As the tech giant explains in a patent applicationpublished Thursday, “one example method of operation may include determining a proof-of-work via a device and using a predefined set of nonce values when determining the proof-of-work, storing the proof-of-work on a blockchain, and broadcasting the proof-of-work as a broadcast message.”

Crypto Wallet Called Wirex Now Accepts Litecoin (Global Coin Report), Rated: B

Just today, Wirex released a new announcement in which it states that LTC (Litecoin) will now officially be added to the wallet. This puts Litecoin among the first altcoins to be accepted by the Wirex’s wallet app.

International

Fundstrat Has Added Five New Indexes To Give Crypto Investors More Options (Cryptona), Rated: AAA

Currently the world has more than 1,500 tokens and Fundstrat Global has come up with five additional price indexes to help the investors have more ways to customize. The five gauges will be based on Platforms, Privacy, Commodities, Exchanges and Stablecoins which include 75 percent of the current crypto market cap. In the market commodity tokens take the largest share with 47 percent simply because the index components include BitcoinLitecoinZcashMonero and Bitcoin Cash.

New data findings explore the relationship between Coinbase user engagement and the price of Bitcoin (Global Banking and Finance), Rated: AAA

Ogury, the leading mobile data company, today announces findings indicating a direct, predictive relationship between crypto exchange Coinbase’s active users and the price of the cryptocurrency.

coinbase session

  • On December 12th, Coinbase saw a spike in active users, rising 10%in just 2 days to reach total of almost 40%. Following this activity, the price of Bitcoin then climbed to $17,178 in the hours following the spike
  • On February 5th, Coinbase saw a steep decline down to almost 15%in active users; bitcoin’s price dropped down to $6,914
  • On December 12th, the most volatile month for bitcoin pricing, users of Coinbase checked the app on up to 7.5 times, before dropping to as low as 2.3 on February 5th
  • Over one-in-five Coinbase users checked the app on Christmas Day, with each user checking on average three different times during the day

active users bitcoin

Have bitcoin investors become irrationally bullish (again)? (MarketWatch), Rated: A

Despite this new lease on life, the bigger picture for the No. 1 digital currency remains much the same; namely, that the specter of regulatory uncertainty will continue to weigh over the entire cryptocurrency sector. Furthermore, bitcoin remains 50% off its December 2017 high, which was just shy of $20,000.

MarketWatch readers aren’t so convinced. In a Twitter poll that racked up about 1,600 votes, 35% of voters said they believe bitcoin would finish 2018 below $9,000, while 25% see it closing above $20,000.

MarketWatch bitcoin
Source: MarketWatch

What Will It Take For Ethereum And Ripple To Beat Bitcoin (Forbes), Rated: AAA

After a couple of torturous months, cryptocurrency markets have staged a big and broad comeback recently. Bitcoin trades above the $9000-mark, up 11.48% over the last seven days, Ethereum trades above $650, up 16.47% over the same period, while Ripple at $0.84, up 5.96%—see table 1.

7d Performance of Major Cryptocurrencies

Cryptocurrency Price %7d Change
Bitcoin $9248.31 11.54
Ethereum     659.73 16.47
Ripple         0.84 5.96

Number of Cryptocurrencies That Advanced/Declined In The Top 100 Ranks

Cryptocurrencies Advance/Decline Number
Advance 90
Decline 10
Volume $415,684,786,192

The Conservation Of Centralization (Forbes), Rated: AAA

All the rent seeking and corruption that plagued centralized systems before the advent of crypto is trying to reassert itself —It’s just winding up in new places.

Exchanges

We were promised a decentralized utopia of thousands of coins—but for new tokens and assets to get distribution and adoption, they must first make it to the exchanges. Reportedly, some exchanges will charge as much as $1 million for the privilege.

Blockchains

Ethereum had a remarkable 2017. It’s the platform most developers choose to build on—not because Solidity is good, but because it has the largest ecosystem of development activity. This activity has created all the edge things necessary to make a project really work: testnetsblockchain explorerswallet experiencesgas price predictors, etc.

Ecosystem Connectivity

More than 1 million users already have a MetaMask extension installed—maybe with enough ETH to try out a new DApp or two. Wallets are set up and already work with all the major hardware wallets. Etherscan can confirm (usually at least) that transaction for new projects are being confirmed, but only if they are built on Ethereum.

Cognitive load on users

Many of the forces above might as well look like (web 2.0) “network effects” —particularly for the most successful coins and projects. Therein lies yet another point of centralization: the benchmarks in token owners’ heads.

Investors

One thing isn’t playing out as we extreme decentralization proponents hoped—we’ve sadly gone further and further away from a more egalitarian vision of project funding, where every dollar is equal.

Storm Token: The Perfect Cryptocurrency for Freelancers (Global Coin Report), Rated: A

Unlike other platforms like Fiverr, Amazon, etc. which charges up to 40% for carrying out transactions, Storm Market demands only 1% of the total income. Also, this platform is free from the middlemen influence which makes this much more efficient than others. Storm Market is accessible in more than 187 countries where more than 250,000 can be benefited from this platform on a monthly basis.

Storm’s Unique Gamification Design:

Gamification is a very popular strategy that many platforms use nowadays where games or game-like elements such as micro-tasks are added in order to increase active participation from the users. The process deals with the integration of gaming mechanics in contexts like services, websites, and apps so that the user feels exhorted to participate actively. This design also helps in increasing engagement, dedication, and loyalty.

Storm Market or Storm Play incorporates several gamification strategies for their users which include:

  • Creation and completion of tasks
  • Management of other Storm Players
  • Helping to categorize and rank the tasks

A Breakdown of Initial Coin Offering Rating System – ICO Whitepaper Requirements (Smartereum), Rated: A

In the last few years (precisely 2016 and 2017), more than $3.5 billion was raised by tech startups through largely informal and vaguely-known initial coin offerings.

Nevertheless, $3.5 billion is a large amount of money, and if more startups and businesses are going to use a similar pattern to fund their ideas, this is the time to have a rating system that will guide future contributors.

3 Innovative Ways Blockchain Will Build Trust In The Food Industry (Forbes), Rated: A

In the food industry, trust is dwindling.

Just look to Chipotle. After a major E. coli breakout in late 2015, the company’s profits dropped 44% compared with the same quarter the previous year. It has since given out millions of coupons to lure customers back with free food, but the company still hasn’t fully restored customer trust.

1. Food Recalls

Every year, one in 10 people around the world become ill due to foodborne diseases, and approximately 420,000 of them die. Part of the reason we still see statistics like this is because it takes far too long to isolate product recall or contamination issues in the supply chain.

2. Product Labeling

There are companies like Where Food Comes From (WFCF) that confirm product label claims.

But the blockchain will take that one step further, bringing the U.S. food industry together around regulations and consumer demand. Blockchain-based reputation and standards for suppliers will ensure the integrity of the marketing claims. Existing certifications and facility audit reports will be registered on blockchain to prove these claims.

3. Farm And Distributor Information

Block Commodities Ltd. recently announced a partnership with Global Markets Exchange Group International LLP to create a blockchain-based platform for African commodity markets.

Top 10 jobs for the next decade include robot mechanic and blockchain developer (MarketWatch), Rated: B

Today I want to talk about 10 new jobs that could become reality in the 2020s:

7. Blockchain developer

This isn’t a new job, but the proliferation of an existing profession. Cryptocurrencies including bitcoin BTCUSD, +1.56%  and Ethereum ETHUSD, +4.80%  are here to stay as early adoption gives way to mainstream acceptance. Cryptocurrencies, however, are just one of many implementations of blockchain, and it’s by their great merit that this technology has been popularized. (I was bullish on bitcoin in 2014.) Even nowadays, it’s obvious that blockchain offers a multitude of advantages to industries, and in years to come, this type of developer will be a recognized and sought-after professional who has the capacity to upgrade the overall efficiency of businesses worldwide.

Parity Says ‘No Intention’ to Split Ethereum Over Fund Recovery (CoinDesk), Rated: B

Parity Technologies issued a statement Thursday stating it has no plans to move forward with a code change that would result in an ethereum blockchain split.

Named EIP-999, the contentious code change would recover the $264 million lost due to a code fault in Parity wallets in November 2017.

European Union

Ethereum Founder Is Boycotting One of the Biggest Crypto Summits (Bloomberg), Rated: AAA

Ethereum founder Vitalik Buterin tweeted Thursday that he’s boycotting this year’s Consensus conference after CoinDesk, the news website that organizes the event, linked to a fraudulent website in one of its stories. Buterin, with almost 750,000 followers on Twitter, said he encourages others to say away from the event.

Ethereum’s ERC721 Can Be Used to Process Real Estate Sales on Blockchain (The Merkle), Rated: A

In consideration of the increasing demand for cryptocurrency from investors and realtors, ConsenSys and OpenLaw Core partnered to utilize Ethereum’s non-fungible token standard known as ERC721 to allow buyers and sellers of real estate properties to store records on Ethereum’s decentralized blockchain network.

Cardano April Update: Up 53% Over Past Month On New Developments and Exchange Listings (CryptoSlate), Rated: AAA

While lacking the industrial hype of a corporate project, the scholarly Cardano has gone from strength to strength since its September 2017 launch. Having has somersaulted its way to rank 7 by market capitalization — ADA’s bountiful $7+ billion market cap sandwiches it firmly between Stellar and Litecoin.

Needless to say, the Huobi listing reinforced ADA’s bullish hike — having erupted alongside BTC’s April 12th outbreak.

Cardano
Source: CryptoSlate

VPE Bank First In Germany To Support Cryptocurrencies For Institutional Traders (ETHNews), Rated: AAA

WertpapierhandelsBank AG (VPE) a traditional securities trader headquartered in Germany, has announced the expansion of its brokerage offerings to include cryptocurrencies for institutional investors. The BaFin-regulated bank is the first in Germany to offer this service, and asserts its compliance with “all necessary KYC (Know your Customer) and AML (Anti-Money-Laundering) requirements.”

WILL INSTITUTIONAL CASH RENEW GROWTH IN THE CRYPTO MARKET? (Irish Tech News), Rated: A

After losing more than 50% of its value this year, the cryptocurrency market is likely to experience steady growth in terms of trading volumes and reduced volatility in upcoming months. This, analysts believe, will happen because governments are now taking steps to establish a regulatory framework for cryptocurrencies.

GREECE’S FIRST OFFICIAL ICO. INTERVIEW WITH GFC PRESIDENT DIMITRI HARITOS (Irish Tech News), Rated: A

GFC-Greek Food Corridors: We are the Next Generation electronic Auction infrastructure in Greece for Fruit & Vegetables and Olive Oil, synchronized with a Commodity Exchange market for Futures contracts based on Fiat and crypto-currency.

We are Greece’s first official ICO (Initial Coin Offering) with a hard cap of €25,000,000. We have a real proven working model (e-auction houses) and are currently through our ICO.

Gold-backed Jinbi Token Partners with Gold Mining Company for Golden ICO (PR Newswire), Rated: B

Jinbi Token (https://jinbitoken.io/), a UK and Switzerland-based gold-backed blockchain business, today announces its crowdsale will commence on Friday June 1 2018. There will be 8.75 million tokens available to the public, with 1.25 million tokens allocated to a pre-sale starting Tuesday May 29 2018.

Wall Street clearing firm stretches legs in Cypress Waters, explores blockchain (Biz Journals), Rated: B

“We have dedicated resources looking at blockchain and distributed ledger. It definitely is a big industry buzz word right now,” said Options Clearing Corp. Vice President Mike Hansen, who is based in the company’s new Dallas office.

United Kingdom

CRYPTOCURRENCY PRICE CRASH PREDICTED AS MT GOX MOVES $ 144M WORTH OF COINS (The Independent), Rated: AAA

The defunct cryptocurrency exchange Mt Gox has moved 16,000 bitcoins from its vaults to an unknown address, sparking concerns of an imminent price crash.

The current market value of the bitcoins is more than $140 million, according to the CoinMarketCap price index, which values one bitcoin at around $8,800.

Blockchain Project To Make Affiliate And Referral Marketing Accessible To All Businesses (CoinTelegraph), Rated: A

A new platform is using Blockchain to make smart marketing programs affordable and practical for small and medium-sized businesses.

Gagapay Network says word-of-mouth marketing is one of the most powerful tools around for establishing a loyal base of frequent customers – with research by Nielsen suggesting 89 percent of shoppers trust recommendations from people they know above everything else.

In its white paper, Gagapay Network cites Webprofits research that suggests 75 percent of companies find referral programs to be the lowest-cost method of attracting new clients, with 78 percent claiming they are “more loyal than other customers.”

UPayCard Now Supports Ripple (Latest Casino Bonuses), Rated: B

Last month, we reported on their inclusion of Litecoin that now has their full buying and selling support. Previously, the cryptocurrency wave with UpayCard was led by Bitcoin and Ethereum, and now another rising star in the crypto world has entered their domain: Ripple!

China

Crypto Exchange Binance is More Profitable than Germany’s Biggest Bank Deutsche (CCN), Rated: AAA

This year, in the first quarter of 2018, Deutsche Bank, Germany’s biggest bank and one of Europe’s leading financial institutions, recorded a profit of $146 million. Binance, the world’s biggest cryptocurrency exchange, recorded a profit of $200 million.

China Is Tightening Its Grip On Cryptocurrency To Promote Rather Than Purge It (Forbes), Rated: A

China’s financial technology entrepreneurs keep trying new things with cryptocurrency, meaning border-less digital assets not backed by any country’s monetary authority. For instance, one businessman in Shanghai created an open software system to build an exchange for cryptocurrency trades. But the Chinese government keeps taking action against crypto operations, too.

Expect these ups and downs to go on for awhile. The country with a managed $12 trillion-plus economy throttled potentially destabilizing capital outflows just over a year ago. It’s keen to keep the control it has today. But China also sees advantages in allowing crypto to develop in a manageable way,  analysts who follow China say.

Australia

ASX sets timetable for switch to distributed ledger (Finextra), Rated: AAA

The Australian Securities Exchange says it will begin the switch from its Chess post-trade settlement system to a new blockchain-based platform provided by Digital Asset between the fourth quarter of 2020 and the first quarter of 2021.

Australian Investors Need To Watch Cryptocurrency Closely, Even If They’re Not Buying It (Forbes), Rated: A

To illustrate, certain cryptocurrencies realized profits as high as 36,000% for early investors in 2017 compared to the ASX’s 7.1% increase in the same period.

However, in addition to its market movements, cryptocurrencies stand to influence the birth of a new investment landscape. The blockchain technology that underpins the asset class is positioned to catalyze the most significant change. Its continual evolution will have second-order effects for which Australian investors should be preparing.

Asia

Japan Online Brokerage Monex Plans New Blockchain Platform And ICO (CoinJournal), Rated: AAA

Monex Group Inc., Japan’s third largest online brokerage, is looking to build its own blockchain platform and conduct an initial coin offering (ICO), according to a financial filing dated April 26, 2018.

N Korea Awash with Cryptocurrencies without Mining Single Coin (cryptovest), Rated: A

North Korea is believed to never have mined a single Bitcoin, but the impoverished communist nation is flush with cryptocurrencies.

A report by The Investor cited experts as claiming that Pyeongyang is incapable of supporting crypto mining operations because of the high energy requirements, so it just resorts to hacking.

Latin America

CHILEAN CRYPTOCURRENCY EXCHANGES WIN BATTLE AGAINST BANKS (Bitcoinist), Rated: A

Earlier this month, Bitcoinist reported that Chilean cryptocurrency exchanges Buda, Orionx, and CryptoMarket filed appeals to one of the country’s appeals court following the unexpected closure of their bank accounts from Itau Corpbanca, Bank of Nova Scotia, and state-owned Banco del Estado de Chile.

Guillermo Torrealba, Buda’s co-founder and chief executive officer, had explained to Bloomberg:

They’re killing an entire industry. It won’t be possible to buy and sell crypto in a safe business in Chile. We’ll have to go back five years and trade in person. It seems very arbitrary.

Hopefully the appeals court will see we’re right.

The appeals have been heard, and the court has indeed seen that Torrealba is right.

Africa

BitImage ICO Review – Next Generation Digital Media Marketplace (Use the Bitcoin), Rated: A

But BitImage offers a solution for these problems. BitImage is the next generation marketplace for digital media content exchange. With a decentralized content licensing and blockchain technology, authors are able to protect copyright safety.

BitImage will be using a utility token based on the ERC20 standard. With it, individuals will be able to perform purchases on the platform. 10,000,000,000 BIM will be created.

The hard cap is 42,000 ETH and the Soft Cap is 2000 ETH. 1 ETH equals 130,000 BIM.

The token distribution will be as follows:

  • 52% for the crowdsale
  • 18% for the team
  • 10% for the presale
  • 10% as reserved funds
  • 6% bounty
  • 4% Advisors and partners

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

About the author

Allen Taylor

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