Pensions and Endowments Advisor Urges Institutions to Bet on Crypto

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Cambridge Associates, an adviser to pensions and endowments says that institutional investors should consider entering the digital assets space, as reported by Bloomberg on Feb. 18.

A large number of institutions have watched from the sidelines as the decade-old industry tries to grow and appeal to all kinds of investors.

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Institutions are reluctant to enter the space because of regulatory uncertainty and the use of cryptocurrencies to facilitate criminal Continue reading “Pensions and Endowments Advisor Urges Institutions to Bet on Crypto”

Bitcoin Is Fast Evolving Into a Global Reserve Currency, Says Morgan Creek Digital Founder

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Despite the bearish run of 2018, there’s no stopping Bitcoin from emerging a de-facto global reserve currency.

It may sound like wishful thinking at a time when the broader crypto market is only just showing the signs of a possible recovery, but the forecast is actually coming from a respected voice in the crypto space — Anthony Pompliano, founder and partner at Morgan Creek Digital.

Weaponization of Fiat is a Blessing in Disguise for Bitcoin
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Pompliano suggests that Bitcoin’s transformation into a global reserve currency is already underway and the weaponization of fiat by governments and financial institutions is only expediting the process.

His comments come in the wake of a recent decision by Spain’s second-largest bank BBVA to block thousands of bank accounts belonging to Chinese nationals, allegedly without any prior warning.

BBVA claims it acted under the Spanish government’s anti-money laundering paradigm.

Obviously, those affected were not amused by the move and flocked to the streets of Madrid to protest against the clampdown.

According to the Chinese Association in Spain (ACHE), somewhere around 4,000 to 5,000 Chinese nationals have lost access to their BBVA bank accounts because of the ban.

Reacting to the development, Pompliano tweeted that:

“The legacy financial institutions are doing more to help the adoption of Bitcoin than they realize.”

The Spanish bank BBVA has frozen the bank accounts of hundreds of Chinese without warning.

The legacy financial institutions are doing more to help the adoption of Bitcoin than they realize.

Long Bitcoin, Short the Bankers!

— Pomp 🌪 (@APompliano) February 15, 2019

His remarks make sense considering that the weaponization of fiat currencies is becoming increasingly rampant in the contemporary political and economic landscape.

Government sanctions as a state policy will likely continue through the foreseeable future and so will the overreaching of financial institutions, of which the recent BBVA clampdown seems to be a classic example.

In this changing environment, it’s only natural for individuals and institutions to increasingly cozy up to the somewhat decentralized realm of virtual currencies — particularly Bitcoin.

And that’s not to say that Bitcoin’s adoption is strictly limited to private individuals and enterprises. Governments around the world are doing it too — perhaps more so in Latin America than anywhere else.

Bitcoin’s Transformation into a Global Reserve

Pompliano mentioned in a follow-up tweet that many world governments are already embracing Bitcoin as a valid instrument for transactions.

“Bitcoin is becoming the global reserve currency right before our eyes,” he added.

Sovereign nations are already settling transactions in Bitcoin.

Don’t blink.

Bitcoin is becoming the global reserve currency right before our eyes.

— Pomp 🌪 (@APompliano) February 17, 2019

As an example, the Morgan Creek Digital CEO pointed out to a recent report of Argentina inking an export deal with Paraguay in Bitcoin.

Per the deal, Paraguay used Bitcoin to pay for its purchase of pesticide and fumigation products from neighboring Argentina.

In another related news, Bitex entered an agreement with Argentina’s state public transport department under which commuters were provided with the option to fund their Sistema Único de Boleto Electrónico (SUBE) cards using Bitcoin.

Argentina and Paraguay are not the only South American nations to have shown a keen interest in embracing cryptocurrencies.

Hard hit by a prolonged economic crisis, citizen and institutions across the continent, including government bodies, are increasingly turning to Bitcoin and other cryptos as alternate modes of payment.

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The Ecological Crypto Initiative Eco Start

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The importance of now, Eco Start provides a turning point

The ecological initiative Eco Start is developing naturally, leapfrogging over stages in its ICO. Therefore, financing fair initiatives with our environment is closer. What is the reason for this statement? This is why: the future of coming generations depends on decisions made at present. The planet needs a break and we are included in it. The project is close to the beginning of the most exciting stage. In the next few Continue reading “The Ecological Crypto Initiative Eco Start”

New and Improved Features Help Make Crypto Transactions More Efficient and Convenient

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The world of crypto is gaining in popularity. To keep up with the industry’s growing demand for new solutions, Piixpay introduces new product features, opening up new opportunities for users. With the launch of multiple new services such as voucher and referral system and its Crypto-to-bank feature Instafill, PiixPay offers a new level of functionality and convenience.

New features in this PiixPay release include:
Vouchers
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Piixpay now offers new ways to earn Continue reading “New and Improved Features Help Make Crypto Transactions More Efficient and Convenient”

Malta AI & Blockchain Summit handing out 100 free booths to startups

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The first edition of the Malta AI & Blockchain Summit in November 2018 turned out to be a monumental success – no less than 8500 people attended the event. This year, the same team is throwing a massive show in May. To support the virulent startup scene, the organisers are now handing out 100 free booths.

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The Malta AI & Blockchain Summit (AIBC) has announced a stellar show for 2019. The highly anticipated show is expected to follow Continue reading “Malta AI & Blockchain Summit handing out 100 free booths to startups”

Fasttoken Is Making Its Codes Open Source

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One of the most common problems facing the Ethereum blockchain is scaling. While Ethereum has seen its fair share of proposed scaling solutions, state channels appear to be the best solution so far. State channels are a form of block communication that occurs outside of the blockchain and can be used to support greater scalability. And that’s not in the distant future – state channels are already available.

Let’s take a closer look at what Fasttoken does
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After six months of working on the code, Fasttoken showcased a demo of their casino game based on blockchain at ICE London, one of the most important events in the online gaming history. The project attempts to bridge the gap between the online and offline world.

The team also officially announced at the event that all their codes would be made available for everyone. These state channels codes have also been specifically created to cater to the internet gambling ecosystem. Just like other blockchain network solutions such as Lightning Network and Raiden, state channels significantly bring improvement to various aspects by:

  • Increasing the number of transactions that may be processed per second.
  • Reducing transaction confirmation times to seconds or milliseconds.
  • Saving money as there are no gas fees involved. You may only be required to pay minimal fees for rare occasions, such as updates. This occurs without compromising the security and transparency of the transactions.

However, although the Lightning Network was designed to facilitate settlements and money transfers, Raiden was created to achieve a different goal. It is a platform for decentralized exchanges, decentralized applications (dApps) and the IoT (Internet of Things).

One of the main reasons why blockchain gaming still has not indeed taken off has to do with scaling problems. That is why state channels are best suited for gaming platforms. State channels can be customized for online games. For instance, it can allow people to engage in turn-based strategy games such as online casinos where players take turns while playing. The game is played completely off-chain, and payments are settled on-chain.

This technique is available for slot machines, where the players have set 10 ETH. If they win, they will get double the amount. Transactions that send 20 ETH to the winner occur out of the chain through the main channel. Based on this principle, Fasttoken is the first of its kind that came up with its own state channel that is freely available to anyone.

Fasttoken Believes Competition Is a Good Thing

According to the team, healthy competition is a source of efficiency. In a market where there are large numbers of companies competing, the desire to win more clients forces the businesses to raise the quality of their products/services.

Blockchain and Fasttoken gaming platforms provided the procedures necessary to issue state channel codes. Many gaming platforms running on Blockchain claim to use this technology to improve the process of playing and settling payments. However, their codes are not made freely available. The Fasttoken team is one of the first to create publicly accessible status channels.

Due to the need for more computing power, the rapid growth of the network in terms of transactions affects performance. If the number of operations increases exponentially and the block size cannot be changed, the operations are also affected.

Several solutions have been proposed, including sharding, state channels, and side channels.

Ethereum to Introduce Native Support for State Channels Later This Year

Later this year, Ethereum plans to offer support for state channels, which is great news. Developers will no longer need to build their own platform from scratch, hence their work is simplified.

The Fasttoken project is one of the first gaming platforms that use Blockchain to enhance the online gaming experience. By making this information available to the public, the team wants to impart knowledge into other developers. This will, as a result, contribute to the improvement of the technology.

All the materials are publicly available on Fasttoken’s GitHub channel.

Fasttoken is an Ethereum based solution designed to provide a transparent and fair gaming environment for all players and developers.

For more information about the project, you can join the official Fasttoken Telegram channel or send an email to contact@fasttoken.com. Readers can also visit the official Fasttoken website for additional resources and updates regarding further advancements and developments.

According to the Fasttoken team, this announcement is just the beginning. There is so much more in store. Stay tuned.

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Four-Day Blockchain Cruise Brings John McAfee and Industry Leaders Aboard

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CoinsBank announces the year’s biggest blockchain event on the seas: the fourth annual Blockchain Cruise.

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After three successful editions, the 2019 Blockchain Cruise by CoinsBank will be held for the fourth time between June 9th and 13th. It will depart from Barcelona and dock in Rome, with stops in Palma de Mallorca, Marseille, and La Spezia. The global conference will take place on the majestic Oasis of the Seas by Royal Caribbean. Continue reading “Four-Day Blockchain Cruise Brings John McAfee and Industry Leaders Aboard”

Vitecoin Prepares for Launch in Mauritius

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Vitecoin prepares for the launch after a successful private Beta in Mauritius

Vitecoin (VT) prepares for the launch after a successful private Beta in Mauritius, with more than 1000 early adopters. The successful figure of a thousand people was part of the acid test for Vite. Moving safely and affordable is a constant need among citizens, but public transport is fundamentally slow and inefficient and can no longer keep up with demand. The centralization of industrial jobs Continue reading “Vitecoin Prepares for Launch in Mauritius”