What is Libra cryptocurrency and how does Libra influence cryptocurrency mass adoption?

What is Libra cryptocurrency and how does Libra influence cryptocurrency mass adoption?

Facebook, the famous social network behemoth announced on the 20th of June it is developing the already famous Libra cryptocurrency, which will be introduced into the platform starting with 2020. Libra uses blockchain, which is a technology underlying different cryptocurrencies such as Bitcoin, and it was created as a way to facilitate cash transfers across boundaries and serve underbanked populations around the world.

What is Libra a cryptocurrency or a stablecoin?

IT’S FAIR ENOUGH TO SAY THIS USES CRYPTOCURRENCY TECHNOLOGY

  • Matthew Green, an associate professor of computer science at Johns Hopkins University

This is sort of a controversial matter. There is also a public ledger, though only some individuals are permitted to mine the coin. It is said that Libra is limited in how the blockchain functions.

Bitcoin is a permissionless system. In order to participate in it, you have to provide proof of work in a competition of solving a complex puzzle, and this will let you add a block to the chain. So, basically, anybody can participate. This is only one of the most important thoughts behind Satoshi Nakamoto’s 2008 newspaper: bitcoin demands consensus, not trust.

The Libra cryptocurrency, in contrast, is permissioned, meaning just a few trusted entities may keep tabs on the ledger. That makes it like electronic money as opposed to a cryptocurrency.

On the flip side, Libra is delegated to pseudonymous “wallets,”, Transfers are done through public key operations.

Nicholas Weaver, a researcher at the International Computer Science Institute stated that the permissioned model implies less computing power is necessary. Bitcoin wastes a whole lot of energy, preventing so-called Sybil attacks where an attacker fills the system with computers that the attacker handles and wreaks havoc.

The conclusion is that there’s not just one definition of “cryptocurrency,”. We shall call Libra a cryptocurrency so that everyone knows what we are talking about, but it does come with some special characteristics.

What is the purpose of Libra?

Basically, Facebook would like to make it easy to move cash around the world since it is to send a text message.

The Business published a White Paper to describe the details. It will not observe the cryptocurrency as an effort to substitute the present financial system, as is Bitcoin’s goal. Instead, it is meant to expand an electronic payment system to under-served populations which don’t now have easy access to conventional financial institutions.

Worldwide, nearly two billion adults”stay beyond their fiscal system with no entry to a conventional lender, although one billion possess a cell phone and almost half a billion have net access,” reads the newspaper.

In the U.S., where buyers have access to a wealth of payment choices, the FDIC quotes that over 8 million families are unbanked.

“For big chunks of the Earth, Libra will be about using a superior kind of payment and wealth preservation,” states Colas. Agents from Libra didn’t respond to CNBC Make It is petition for comment.

Facebook’s strategy to run its digital money presents dangers to the global banking system which should activate a fast response from international policymakers, according to the organisation which represents the world’s central banks.

Even though the transfer of major tech companies like Facebook, Amazon and even Alibaba into monetary services could accelerate transactions and reduce costs, particularly in developing world nations, it may also endanger the stability of a banking system which has just recovered from the wreck of 2008.

Echoing warnings from several technology experts, the Bank for International Settlements (BIS) stated that while there were potential benefits to be made, the digital currencies’ adoption beyond the existing financial system could decrease competition and make data privacy problems.

“The aim should be to respond to big techs’ entry into financial services so as to benefit from the gains while limiting the risks,” said Hyun Song Shin, economic advisor and head of research at BIS.

How will Libra work?

Libra is going to be handled by a Swiss-based nonprofit. Contrary to other cryptocurrencies, Libra is going to be endorsed by”actual” government-backed resources from central banks to provide it stability.

Facebook states Libra is going to be made accessible to Messenger and WhatsApp users, that will cash in their regional currency to purchase Libra. The money is going to be held at an electronic wallet named Calibra (more on this below) and may be spent on goods and services at participating merchants, exactly as with any other money.

To withdraw money, users will have the ability to convert their electronic money into legal tender according to a market rate. It will not be so equivalent to if you swap U.S. dollars for euros through a European holiday, for instance.

Presently, Libra isn’t”pegged” into one currency. However, this will allegedly make it less volatile compared to other cryptos.

For all those concerned about safety, Libra obligations won’t be linked to an individual’s Facebook information and will not be utilized for ad targeting.

Can you trust Facebook with your money?

Will Libra help people without a bank account?

The white paper includes some detail about Libra’s design. Nonetheless, there’s very little debate about why people do not have a bank account.

In accordance with that the World Bank data Facebook is mentioning, nearly two-thirds of men and women who do not have bank accounts state it is because they do not have sufficient cash to start one. A third of individuals who do not have bank accounts stated they do not need one. Libra doesn’t fix these issues.

Libra simplifies just the popular reasons people do not have a bank account. Approximately a quarter of respondents said banks’ large and unexpected prices were part of why they did not have balances; the lack of proximity to a bank is a barrier for another 20%.

To utilize Libra, you need to purchase Libra.

Problem is, individuals who don’t use banks don’t have bank accounts and do not have credit cards. They use cash.

The Libra’s whitepaper doesn’t mention anything about how Libra will reduce prices to convert fiat money into Libra currency, which will be a challenge for any user of Libra.

In terms of mobile banking, other challenges arise. For instance, in Nigeria, individuals prefer cash money because they worry that if their mobiles are stolen, their money is gone, also. This is an issue of societal norms, not technology. This, also, isn’t a problem you can resolve through technology. You can find several other, more mundane issues as soon as it comes to mobile banking also, such as the price of getting inactive clients.

Libra doesn’t make it clear why a mobile payments agency such as the one Facebook is suggesting requires cryptocurrency in any way. It feels like a non-starter in lots of the markets in which mobile payments may be needed. And Libra does not cover the principal problem that the documentation says it is.

Concluding from the documentation, Libra is not intended for individuals without a bank account; it is meant for men and women that have cash. Facebook is a company; companies need to create money. As we’ve observed, individuals without a bank account, don’t have money.

Of course, all of this could be a transition towards the mobile digital identity, which is a plausible game.

Facebook is constructing an app for the privileged class. However, Facebook is unlikely to do so for the greater good.

Is Libra legal?

“Before we allow such a giant corporation to begin processing millions to billions of financial transactions, we have to study these issues and ensure we have the tools and guardrails in place to deter terrorists, extremists, and/or enemies from utilizing such a platform to do harm to our nation.” – Emanuel Cleaver, member of the U.S. House of Representatives

Calibra, a subsidiary company of Facebook, and which operates independently from Facebook, enrolled as a money services company with FinCEN.

Broadly, people are discovering new ways to run illegal financial activities, Cleaver stated in the announcement, citing cryptocurrencies along with other brand new marketplaces as tools that these celebrities can accommodate.

“Now that we’re seeing a giant corporation like Facebook—which has already shown an inability to identify and impede these kinds of actors at an acceptable level—creating its own virtual currency called Libra, it cannot be understated the importance of Congress and financial transmitters to be proactive in utilizing the newest and most powerful technologies to ensure the financial system is not being used improperly,” he added.

Will Libra achieve its desired goals?

Whether Libra succeeds, it affirms the inescapable fact that international currency movements in the electronic age is going to be contingent on blockchain-like options that disintermediate the present gatekeepers and challenge the bank-and-sovereign money-dominated version of this 20th century. Additionally, it emphasizes the way we’re moving into an era of electronic assets.

Romanian Blockchain Summit 2019 Review

Romanian Blockchain Summit 2019 Review

What is the goal of the Romanian Blockchain Summit?

The goal of the Romania Blockchain Summit is to promote the advantages of blockchain technology and its usage cases. The potential of blockchain technology is enormous, and it can achieve social and economic progress in Romania and the European Union.

Who was present at the Romania Blockchain Summit 2019?

Among the speakers and partners, we have to mention some of the most interesting faces at the event:

Alexandru Petrescu, the Romanian Minister for Communications and Information Society, Mihai Alisie, Co-founder of Ethereum, Livio Weng, CEO of Huobi Global, MRU PATEL, Flashmoni – CEO & Partner | EXcoin – President Global Operations, Armand Domuta. CEO Restart Energy, Sergiu Draganus, Co-founder of CryptoCoin.Pro, Miko Matsumura, Founder at Evercoin, Nicholas Merten, Founder of DataDash, Greg Limon, Co-founder of DigiMax.global Blockchain, Stephen Kines, CEO of Xcalibra, Daniel Dabek, Founder of Safex, Vali Malinoiu, CEO Swazm, Michael Loubser, Co-Founder and CEO of Core Group

Check the full list of partners and speakers on the official page of the event.

What happened at the Romanian Blockchain Summit?

The agenda of the Romanian blockchain Summit 2019 was tight, and some sessions were held in parallel in different conference rooms. Some of the most exciting topics debated were: government support and building the legal framework for blockchain businesses, finding alternative funding, health management and public administration and security.

The event kicked off with one question launched by the co-founder of the Ethereum platform, Mihai Alisie. The question is: “How can cryptographic systems improve the lives of citizens, businesses and administrative organisations?”

He made it clear that this event and the transitional times we are living are not about cryptocurrencies, although Bitcoin is the reason for which blockchain became famous. Blockchain is a real and useful tool for creating tomorrow’s society. The already existing e-residency programme in Estonia is far more than a case study, and it illustrates how the blockchain technology can be used in public services.

Alisie is militating for smarter citizens, cities, nations and a smarter Europe and during his presentation, he was keen to convince his audience about this with multiple examples and public statements made by the Estonian and the Swiss presidents, as well as other European authorities.

romania blockchain summit 2019 mihai alisie

The presented news and arguments were freshly curated from international media. As Forbes recently stated, a Polish Bank Alior Uses Public Ethereum Blockchain For New Document Authentication Feature, while the Swedish are moving to the next stage with blockchain land registry. There is no news that Switzerland is a crypto and blockchain hub, and that in April 2019, Proxeus was legally registered as the very first Swiss company using blockchain technology.

His presentation had to get tied to the Ethereum blockchain eventually, and the United Nation Wolrd Food Programme was mention in the context of using Ethereum to air Syrian Refugees. Heal Bond is another organisation which uses the Ethereum Blockchain s a tool to provide 100% transparency of accumulation and distribution of funding, in a collaborative approach to curing HIV.

Of course, the blockchain is far more extensive than the financial industry which made it famous, but Alisie found it relevant to mention that Ireland’s currency will be the first in Europe to be traded as e-money.

All of these examples of use cased of blockchain, to which he added the recently announced Facebook token, lead to the question “Can we do better?”, in the actual context in which we have outsourced our privacy, freedom of expression and collective memory at a societal level to a handful of corporations. He left us off with a list of six critical actionable ideas for the immediate future:

  • Focus on use-cases instead of regulating “blockchain”
  • Support university offering blockchain education
  • Nurture local blockchain communities
  • Organise national and international “hackathons”
  • Think beyond “cryptocurrency”
  • Pilot programs with blockchain, DIDs (Decentralized Identifiers), VCs (Venture Capitalists), etc.

mihai alisie actionable ideas romania blockchain summit 2019 bucharest

Livio Wong, the CEO of Huobi Global, used a translator to make sure he will transmit a clear message that the blockchain technology is going global and Huobi is here to help us. He stated:

It’s unclear what changes blockchain will bring to the world in the future, but today we are all pioneers in this space, and Huobi is willing to work with you to create a new future.

huobi global livio wong romania blockchain summit 2019 bucharest

 

Government incentives and support for blockchain businesses

Another notable mention is the statement of Stephan Kines, the CEO of xCalibra, who talked about communities and why are they important in today’s context:

The thing I want to talk about most is communities. Because societies are based and developed by strong communities. And this is something we really want to foster. Communities are grassroots just the way the blockchain is grassroots. So the kind of tokens of that we want to see on coming onward are ones that are building really strong communities. And that’s how our society will be build up. That, together with innovations that are less esoteric and much more focused on real people.

The message that “Technology is about people” was brought up by Vali Malinoiu, the CEO of Swazm, a Decentralized Storage and Compute Platform. This is a Romanian project, aiming to bring together “every piece of computing into a single package” that can be used. The Swazm website states:

We developed a powerful and flexible blockchain computing and storage engine which aims to use any existent unused computing power, storage and bandwidth to serve the needs of real-world financial services businesses, ICO’s and other organizations that want to develop, test build and deploy applications on the blockchain.

 

STOs and ICOs – developing the fundraising platforms of the future

Less than two years ago, ICOs were the tool for raising funds for blockchain and crypto projects. But things are changing and the way people will get funding for blockchain projects will too. As fast as technology is progressing nowadays, the Co-Founder and CEO of Core Group, Michael Loubser stated:

I think you will see the principle of whitepaper disappearing. You’re likely to get something like private placement memorandum which is much more convenient, tangible with .. I don’t think you should limit the principles of STOs or ICOs. It absolutely applies to any company that wants to enter blockchain or wants to trace finance.

Blockchain – enabling personal health management

The blockchain technology is not all about currency. Blockchain can and eventually will be the standard for many industries. Another key point about the use cases of blockchain is the health management systems. Dr Danyal Akarca, from Medicalchain made it clear that the point is not to store any health-related information on the blockchain.

This wouldn’t make sense from a logistic and security wise point of view. Talking about medical files, these can go up to terabytes of information and would clog any blockchain, and that would go against the very first idea of accessing information from anywhere, on a short notice basis.

If we want to have the advantages of blockchain auditability and verifiability, so that if a patient comes to me I know that information they’re giving to me is correct. I don’t want to give someone antibiotics if they have an allergy to the antibiotic that I’ve got. How do I know that they have that allergy? Well, I can look in a blockchain and if I think that the network has come to consensus correctly, then it’s a secure system and I will trust that’a collective network. These are all advantages of the blockchain system, but we need to go beyond on how we can store this information.

Romania blockchain summit 2019 Blockchain - enabling personal health management Dr Danyal Akarca Medicalchain

Medicalchain uses blockchain technology to securely store health records and maintain a single version of the truth. Dr Akarca compares this system to the e-citizenship system which Estonia has in place.

The similarity is that neither system has essential information on the blockchain, but that the individual has complete permission to their health record and that the blockchain does not hold any information but only provides data access to the portal and the individual can go to third parties and voluntarily offer access to that data.

He also makes the point that the medical IT infrastructure is years behind the technology.

A couple of other key points raised during this panel were security and suggestions for young entrepreneurs. Medical data is perhaps the most important data an individual holds and the current systems let that information leak or disappear to the point where it causes damage. So a first point to make in the discussion of how to improve the health care systems would be security. Health data need to have a soft with cryptographic security. Another point made was of the business model.

Entertainment for mass adoption of the blockchain technology

“Winning is not really important, unless.. you’re not winning” is a famous quote and it certainly applies in our day to day life, not just sports. And definitely, not just football. But when it comes to entertainment, and you are aiming for mass adoption, then the target should be the masses.

Football is the most famous and profitable sports of all times, and it is present almost in every country on the globe. With a global audience of 3.5 billion people, this makes football the king sports. And FootballCoin considered this when they create the first blockchain fantasy football manager game.

A game of skill using collectable cards and real rewards.

romania blockchain summit 2019 footballcoin fantasy blockchain game

The FootballCoin game has all the contests from the game as well as the assets from the game, not just the cryptocurrency, on the blockchain. They build their own blockchain using the multichain technology and this might be the end of endless hours wasted on games. Because the premise of the game is that “you own what you collect” and everything in the game is a digital asset which can be traded on the available cryptocurrency exchanges or exchanged with other players. This concludes that the gaming industry can be a way to get free cryptocurrency if anyone is still wondering that.

The ultimate goal of FootballCoin is to create a bridge between the world of sports and cryptocurrency.

Romania Blockchain Summit 2019 Partners

Core Token

Core Token is a service system which connects the current world to the fast emerging blockchain based world through means of tokenisation.

EXcoin

EXcoin is the world’s first block chain derivatives exchange to launch digital options trading. The EXcoin team is committed to connecting the digital currency and financial derivatives markets.

Bucharest Stock Exchange (BVB)

The Bucharest Stock Exchange (BVB) is building competitive capital markets in Central-Eastern Europe. BVB is aiming to shape one of the most comprehensive markets in Central-Eastern Europe by creating attractive opportunities both for companies and investors in a dynamic and transparent environment.

Safex

Safex is on a mission to enable decentralised, free worldwide trade that we call the new market economy. Safex makes it possible for a user to directly buy and sell goods and services directly on the blockchain, no need for hosting services or connecting with payment processors.

xCalibra

xCalibra is a secure and high-performance exchange, which makes it easy for you to buy, sell and trade premier cryptocurrencies.

GeoRanker

GeoRanker provides and continuously develops tools to track and improve all of a website’s SEO or SEM efforts from a local perspective. GeoRanker’s platform is built for specialists in SEO, Local SEO and PPC, interested in local results or multiple locations.

Bitpanda

Bitpanda believes in the innovative power of cryptocurrencies, digitised assets and blockchain technology. Their mission is to tear down the barriers to personal finance and bring traditional financial products into the 21st century.

FootballCoin

FootballCoin gives you the chance to showcase your managerial abilities by allowing you to create your perfect football team. This blockchain game has you registering it in competitions, create the team’s roster, and winning prizes based on your football knowledge.

TokenPay

TokenPay is an open-sourced, decentralised, and self-verifying payment platform project with a passionate community following. Their mission is for users and merchants to be able to transact in crypto and receive fiat settlement, directly to their bank accounts.

DISPRUPTIVE

Dispruptive is an agency that leads with PR, because PR should sit at board level and be infiltrated through every part of the business and its ICO/STO. Reputation matters. And an agency that understands how to get organic press coverage in the top tier titles – without being charged by the publication.

EximBank

EximBank is a specialised financial institution actively involved in supporting and promoting the Romanian business environment its financial instruments being exclusively targeted to the corporate segment.

CEC Bank

CEC Bank must be a competitive universal commercial bank able to offer diverse and high-quality bank products and services to its clientele, focusing mainly on financing SMEs agriculture, public administration, as well as those banking projects that, by their nature, contribute to the economic development, generate and maintain the jobs number.

SIF Moldova

SIF Moldova is an alternative investment fund


In the end, after two days of intense blockchain debates, the conclusions were many, and they all led to a hopeful future of the industry and a promise of a new edition of Romania Blockchain Summit next year. But a straightforward idea, which will leave us questioning all the things around us is:” Investing should be as easy as ordering pizza.”

romania blockchain summit 2019

How to get Funding for your Blockchain Project or Cryptocurrency project

How to get Funding for your Blockchain Project or Cryptocurrency project

The crypto space has been through its ups and downs, but now things are starting to settle in and the markets are on its way to maturity. Blockchain projects are finding their way to the masses and it’s time to find out how you too can get funding for your blockchain project.

What does maturity look like for blockchain technology? We don’t know that yet, but a good start will are the blockchain projects in all economical and industrial fields.

In reaction to the participation of the SEC, blockchain projects have begun to change back to the conventional means of raising funds for technology projects, that is personal investment from venture capitalists, as opposed to the Initial Coin Offerings (ICOs) which are a staple of the blockchain projects.

What is great about the Venture Capital (VC) strategy?

The project is not as likely to be tagged a safety since the tokens aren’t offered to the public.
It is more difficult to get financing this way since the procedure is far more rigorous – that many would say is that a fantastic thing.
It depends on access to licensed traders, making the place & relations of this group a whole lot more significant.

How to get  Funding for your Blockchain Project or Cryptocurrency project

In order to start seeking funding for your blockchain project, you or your team will have a clear list of answers to the questions that potential investors might ask.

Here’s a lit of questions you will need to ask before asking for funding for your blockchain project:

1. Which of the following describes your project: angel, pre-seed, seed or series A?

This question refers to the type of round your company is currently in. A company needs to define itself as part of these rounds: angel, pre-seed, seed or series A.

When you are preparing or in the process of scaling a company’s growth, several financial aspects will require the team’s attention. It is important for any company founder to comprehend the different phases their startup can transition through.

The words angel, pre-seed, seed and series A are financial rounds that a company may undergo to increase capital from shareholders, which will help the company develop.

Talking about these different rounds of investing in a project, many will not agree on the same numbers and perspectives. Somebody’s definition of seed is another’s definition of a string A. Nevertheless, the major point to bear in mind is they are all stepping stones in your path.

Around most nations such as America, the United Kingdom, Australia and China, these phases are recognised and could be divided up into these broad rounds:

Angel Round

The process of putting the money-in-the-bank should take just two weeks or not. Most will want to satisfy double, a minimum of one time in person, with some additional queries being answered over email.

Approach angel investors early on your fundraising as it is often useful to find momentum in the around using smaller checks.

Pre-seed Round

A pre-seed financing round is usually in the early stages of the product development, and more frequently than not, used to construct a minimal workable product (MVP). The amounts we are talking about at this around are normally less than $50k.

Funding for pre-seed generally comes from friends, family members, and fans. But, incubators and accelerators can also give you a hand, if you’re fortunate enough to enter one. Equity is the prized asset in a startup and you have to fight to hold onto.

What are the benefits of the pre-seed round?

  • Controlling the management of the project. The funding at this level is modest, and therefore less management is given up;
  • It’s an opportunity to make the most of the upcoming fundraising opportunities through analyzing;
  • Time to construct a productive core group;
  • Evaluation of possibilities beyond your own MVP, without the seeing eyes of significant money.

Seed Round

The aim here would be to inject the MVP using “seed”, therefore it could be analyzed and provide the creators time to appraise the product-market match. Amounts increased at this round change, but firms can increase everywhere from $50k into $2m.

A farmer with abundant soil now must determine what to develop. Like trees, companies don’t grow overnight.

Trees grow from seedlings and shape foundations and roots until they develop into a tree that can be harvested. Seed rounds are supposed to provide a startup together with the funds they have to create the sort of base that yields a lucrative business enterprise. Seed round financing is usually used for things such as hiring key staff members, analyzing the market in more detail and further developing and analyzing potential MVPs. The important thing here is to take your time and find the appropriate seed around partnerships until you proceed to the next round – Series A.

What are the benefits of the Seed round?

  • You can pivot your business model;
  • Join and connect with partners;
    Reduced dilution — your own equity is the main advantage; and
    Greater flexibility to pivot and experiment with no big money viewing.

Series A round

Having a good base and healthy appearing seedling, now it is time to develop.

The Series A round consists of raising around $2-10m in funds. But this also means you have to part with equity. The investors who join in here will receive shares and can request to be part of your board.

These investors will also add pressure to the fast growth of the startup.

Series A is your very first big investment around, which is composed of one or more VCs. They will pour considerable investment in your startup and apply pressure for one to grow quickly. That is where having great foundations are significant. Before you enter this around, be certain that you have both a product-market match and proven systems set up. It isn’t common for creators to bypass the seed around, but it happens from time to time. This normally occurs if a business is experiencing enormous traction. From time to time, a unicorn is seen early and also an eager VC will wish to get in ahead of the crowd. But don’t allow your ego to get in the way, this may often end poorly. There are numerous reasons why many early-stage founders are far better off carrying a seed around before taking the money.

What are the benefits of the Series A round?

  • Capability to scale quickly;
  • Enormous partner with deep pockets;
  • Follow-on investment probably since VCs dislike being diluted;
  • Increased notoriety, stature, and name recognition.

The catch is that the more funds you collect, the more equity you have to part with. If your funds are not big enough, you might not grow as fast as needed and this could lead to a failure of the project. Moat strategies recommend through the pre-seed, seed and series A path.

2. Do you use blockchain technology or provide a cryptographic asset?

Getting funding for your blockchain project requires, of course, a blockchain project.

Before looking for Funding for your Blockchain Project or Cryptocurrency project, make sure you have a detailed and well thought white paper, which can be used by investors to understand your plans for the project.

Ticking the box for either of the two can get your fundings for your project. However, it is important to understand the difference between a project that used blockchain technology and one that utilizes only digital assets. For example, in the online gaming community, changes are already visible and the markets are shifting towards blockchain. Regardless of the industry, knowing the difference between a blockchain and a crypto game can leave you some insights to apply in your own projects.

3. Do you have a multi-billion dollar addressable market?

Whether you are a startup or an up-and-running organization, you should understand what your entire potential market opportunity is for your services or products.

Occasionally new small business owners become wrapped up on comprehensive market analyses and market study, but it may not be the ideal way to devote their valuable time while they are getting their businesses off the floor.

One fantastic reason to compute your addressable market is that it will help you forecast your earnings.

Think about a situation in which the plan states that a company will reach $2M in sales within their next year of operations, but it doesn’t have the capacity to provide the $2M value of merchandise or services in this period. If they had calculated their market, then they’d have had a much better awareness of it, and they’d have either plan for the sudden growth and increased their internal capabilities to satisfy that market requirement or at least realise their capabilities and determine they are not prepared for it. In any event, their earnings prediction would have left a much better impression on shareholders.

4. Can you provide a 20x or greater return on investment in the best case?

Considering that the investment spouses return to VC funds hoping to earn a 30% yield, supervisors of a VC fund won’t make investments which yield an estimated yield lower than 30%.

The yield rates and risk tolerance may also change according to your geographical location.
Does just one question embody everything: earnings initially or expansion?

US startups compete at a giant community market and desire a high level of market penetration so as to get a competitive edge over potential imitators. Hence, traction and growth are the primary success factors as noticed by both shareholders and startup founders.
The problem with this method is that it concentrates on the primary energy supply of startups — that is earnings is delayed until a massive user base is made or funds are exercising.

To the charge of Europe’s startup ecosystem, creating earnings is the only method to show that the company has generated something that individuals would cover and thus, proves product-market-fit.
However, this can also be a reason why European startups have a considerably different scenario in regards to KPIs and the reason it’s fairly normal for European VCs to request revenue-based milestones.

With less later-stage funds accessible, startups in Europe can not spend massively on expansion but will need to create revenue earlier to be able to remain alive.
I feel there is a fantastic opportunity here in Serbia to offer local startups the funds to control other European rivals and resolve the bottleneck of growth-stage financing.

5. Do you have either licenses from an appropriate regulatory body or sound legal advice that your business and financing plans comply with all relevant jurisdictions?

The legislation is essential, but preventing over-regulation is vital. The danger of over-regulation is enormous. Here’s a list of the regulations of all the countries regarding the blockchain and cryptocurrency. 

Observing the present law, it may be deduced that the regulatory goals that need to be the cornerstone of this blockchain regulation:

1. Existence of standards that permit interoperability and guard end users

2. Ensuring the security of vulnerable individuals and shielding them from offenders

3. Ensuring good governance to safeguard investors in addition to end customers from fraud, mismanagement and gross neglect

The open source nature of the blockchain jobs is in itself attaining the objective of interoperability. On the other hand, the essential term one of the above mentioned regulatory goals is projection. There’s a good line for authorities and governments between shielding and carrying a big brother strategy where adults aren’t permitted to take their own educated conclusions.

In a few countries (mostly from the EU), present laws like the ones handling money-laundering, investment solutions and taxation are recycled to extend into cryptocurrency-related pursuits. The legislators in those states have acknowledged that specific new solutions that must function as a consequence of the capacities of blockchain technology virtue sui generis regulation.

Actually, within the last ten decades, Malta has been the hub for online gaming firms in Europe, a sector that’s now of fundamental importance to the economy of the nation. Noe, Malta is supplying are the most demanding nation up to now within the world of blockchain technology. Aside from issuing new rules related to ICOs along with the supply of intermediary services comprising cryptocurrencies, laws also have been introduced that covers the blockchain industry generally.

If you tick YES for all the above questions, then you should apply to get funding for your blockchain. 

Who can help you in funding your blockchain and cryptocurrency project?

Blockchain and cryptocurrency technology has been rapidly expanding into different industries internationally, while products and services in the business continue gaining focus.

While international businesses are focusing on in house development and research, blockchain and cryptocurrency capital, such as gumi Cryptos, are making investments to startups to watch a solid capital inflow. Especially, gumi Cryptos matches a particular void in the blockchain and cryptocurrency investment spectrum by allowing accessibility and increasing comprehension of the way the markets function in Japan, such as industrial and investment networks, clients, markets and markets.

Gumi Cryptos is a blockchain/crypto venture fund established by gumi Inc., a major international mobile game developer and publisher.
Gumi Cryptos is investing in cryptocurrency and blockchain technology startups and companies internationally and provides its portfolio companies with a strategic venture capital investment associated with unique access into this Japan cryptocurrency marketplace through its own network of investors and management board.

Hironao Kunimitsu, Founder and CEO of gumi Inc, stated, “gumi Cryptos will collaborate with Remixpoint to obtain insights and knowledge of the services and products that are based on blockchain technology. Together, we will expand our reach and impact within the blockchain and cryptocurrency industries.”

Blockchain technology can transform the internet and everything around us. These are the early days of this transition. Imagine that we’re in the calendar year 1989 prior to the Hypertext Transport Protocol (http) was released by Tim Berners-Lee. So we’ve got TCP/IP and FTP and a few of the very basic protocols which specify the net.

Their investments are focused on already established segments such as infrastructure platforms, novel consensus algorithms, programmer platforms, middleware protocols, calculate resource sharing, programming models and frameworks, ecosystems elements such as exchanges and wallets. All of these are comparatively low-level elements and flat (industry impartial). They also take an interest in financial services and gambling.

Gumi Cryptos is directed by recognized operators Hironao Kunimitsu, Founder and CEO of both gumi Inc., and Miko Matsumura, creator of US-based digital money exchange Evercoin. The initial projects financed by gumi Cryptos comprise Spacemesh, Origin Protocol, Robot Cache and Wificoin.

To learn more about gumi Cryptos, see http://www.gumi-cryptos.com.

Is Rolling Back the Bitcoin Blockchain Possible and What Would it Do to Bitcoin?

Is Rolling Back the Bitcoin Blockchain Possible and What Would it Do to Bitcoin?

In May 2019, Binance lost over 7,000 bitcoins, valued to over $40 million.

The CEO of Binance Changpeng Zhao (CZ) demonstrated that after talking to different parties, he chose to not pursue the re-org strategy for “revenge” on the hacker(s) that was able to steal money from the cryptocurrency exchange

The hack included one trade that transferred roughly 7,074 BTC from Binance’s hot wallet. While CZ thought that reversing the Bitcoin blockchain was possible, he confessed it would not be worthwhile to do this, even for its $40 million which were stolen.

The re-org would observe miners essentially collude to make an alternative continuation of their blockchain rooting out of prior to the block which comprised the hackers’ transaction. This alternative continuation would have to grow quicker than the present one to possess more proof-of-work and watch all of Bitcoin customers re-org for this, accepting it as legitimate.

In its set of experts for doing so, CZ mentioned it might dissuade future hacking efforts, and start looking into how the Bitcoin system would cope with this type of circumstance. The outcome would probably be the end of this, as it might ruin the cryptocurrency’s immutability, and influence consumers’ confidence in it.

Presently, Bitcoin is regarded as a store-of-value and also a kind of electronic gold. Employing the cryptocurrency, whales can move tens of thousands of dollars for exceptionally tiny quantities in fees, which makes BTC a superior asset that is also helpful for remittances and regular transactions.

However, what if miners were to create a cartel to pull a 51% attack on the Bitcoin blockchain to undo trades? This is basically what was at stake if CZ chose to rollback the blockchain, and could most likely hurt Bitcoin’s reputation. Who’d wish to transfer millions using BTC in case the blockchain was not immutable?

Since Nic Carter, a partner at investment firm Castle Island Ventures in Boston, place it through a Telegram message, Bitcoin’s value proposition is based on miners not colluding, like they do this they could”selectively censor, invalidate, or interfere with transactions.” He said :

More to the point if this kind of behavior becomes mainstream — deep reorgs to reverse valid transactions — then Bitcoins settlement assurances are impaired. People will lose confidence in Bitcoin’s ability to settle large transactions.

The Ethereum Precedent

The ones who are involved in the crypto area for some time know that blockchain trades have been reversed before. As soon as the DAO applications on Ethereum watched a hacker stealing 3.6 million ether (worth ~$70 million at the time), the Ethereum blockchain had to perform a hard fork in order to please everyone and to move on after the hack.

At the moment, the Ethereum blockchain was rather young,  but even so, it was a controversial move. Some viewed the hack an unethical, but legitimate movement, and opposed regaining the funds. This saw the community divide, with a few staying on the first blockchain, now called Ethereum Classic (ETC) and fans of ETC chain’s immutability.

Ever since then, various Bitcoin fans have remained away from Ethereum entirely. Commenting on the recent proposal to rollback the Bitcoin blockchain Vitalik Buterin, the Ethereum co-founder, noted that rolling back wasn’t even an option.

Ethereum did a surgical irregular state change. We never even considered actually rolling back the chain to undo the hack; the collateral damage from that (reverting a day of *everyone’s* transactions) would have been huge and possibly fatal.

The billionaire founder of Galaxy Digital Michael Novogratz said that bitcoin is currently viewed as a legitimate shop of riches, which also has a market cap of over $100 billion. Affecting its immutability and standing could see its worth dip.

Some think CZ chose against the rollback since he would not have the ability to pull it off. Miners about the Bitcoin blockchain understand that if they had been to create a cartel to hinder trades, the value of BTC would plummet.

A reorg to recover exchange losses is like a bail-out for a bank mismanaging risk.

Fortunately, it’s so hard to pull off and so likely to fail that unlike banks, there won’t be a bailout here.

Those who fail security get to eat the cost.

@aantonop

This might signify that the 7,000 BTC they’d get paid will be worth a great deal less than $40 million if they would perform a roll back the Bitcoin blockchain. Needless to say that this would impact their company in the long term. As another result of a theoreticall rollback, would be a fall of the hashrate, which makes it much easier for bad actors to pull on a 51% onto it and double-spend coins or mess with all the blockchain.

Even though it is possible, messing with the base of hope on which Bitcoin sits, could put a stop to this flagship cryptocurrency. The simple fact that the most significant cryptocurrency exchange considered a rollback of the Bitcoin blockchain and realised it wasn’t possible, it’s a positive indication of Bitcoin’s immutability.

5 Bitcoin facts you should know before starting trading cryptocurrency

5 Bitcoin facts you should know before starting trading cryptocurrency

The blockchain is a technological milestone, not just for the currency world, but for the entire world and industrial fields of activity. As a newbie to crypto and blockchain, it will be hard to understand or to clarify its accomplishments. But every crypto enthusiast should know some basic bitcoin facts before starting trading cryptocurrency.

How important are Bitcoin and the blockchain technology, Bitcoin’s underlying technology? As Bill Gates, the founder of Microsoft, said:

“Bitcoin is a technological show of power.”

Here are a few Bitcoin facts you should know before starting trading cryptocurrency:

 

1. Satoshi Nakamoto Is extremely wealthy

The creator is Bitcoin is Satoshi. That’s how he declared himself to be called in the early stages of Bitcoin. Later on, he disappeared, and today nobody knows how he looks like. We don’t even know if he is just a person or a group of people. To this day, the identity of Satoshi remains a mystery, but what we know is that he has lots of Bitcoin. It has been estimated that Satoshi mined around has around 980,000 BTC.

2. The US government possesses Bitcoin

Cryptocurrencies like Bitcoin might have been created to eliminate the need of a central authority and the need of government to regulated it, but the reality is that the FBI has the second largest Bitcoin wallet following Satoshi Nakamoto.

In late 2013, the FBI shut down Silk Road, an internet drug market, and began seizing Bitcoins belonging to Ross Ulbricht (also known as Dread Pirate Roberts), the operator of this illicit website.

At the moment, the seizure led to a great deal of debate about the cryptocurrency’s future. That’s how today the FBI controls over 144,000 BTC.

3. A private key is necessary to access your Bitcoin

As I mentioned before, Bitcoin was created keeping in mind the inutility of governments and regulatory organs. But there is one big downside to the way Bitcoin works.

Because there is no third party “watching” over your assets, you wouldn’t be able to recover the access to it in the eventuality of a forfeit or theft.
If you were to lose your credit card, let’s say you would accidentally throw it in the trash without noticing, you would be able to contact the back and verify your identity, and they would issue you another card and declare null the old one.

Well, in regards to Bitcoin, it is not really simple. Bitcoin uses private keys to grant access to its owner. ‘a private key is basically a large string of numbers or combination of words.  In the event you misplace your private key, you are going to lose all of your coins. Forever!

Actually, back in 2013, IT employee James Howells lost access to 7,500 Bitcoins, which were estimated to roughly $127 million at the moment. He stated that he accidentally threw the hard disk on which he stored the private key.

4. Bitcoin distribution is Limited

Central banks control the production and supply of traditional money. They can always print more money, and nothing is backing it up.

But, Bitcoin is restricted to only 21 million. Currently, over 17.7 million Bitcoins are circulating, and the last coin is due to be mined in 2140.

5. Bitcoin cannot be prohibited

It’s fairly easy to understand why governments don’t easily embrace the idea of Bitcoin or any other decentralized currency, but the fact is that the cryptocurrency cannot be prohibited, it can only be controlled.

The system was created in such a manner that so long as you have an online connection and a Bitcoin wallet, then you can purchase and swap the cryptocurrency.

These are some basic facts about Bitcoin you should know before starting trading cryptocurrency, which you can now easily explain to your friends. But trading requires more than this basic knowledge, so please make sure to do all the research required before trading.

Bitcoin price for today? Bitcoin is hitting a new threshold

Bitcoin price for today? Bitcoin is hitting a new threshold

After more than a year of calmness, the price of Bitcoin came close to the $9,000 threshold at the end of May 2019. This gave new hopes to new investors and also raised the interest of occasional traders as everyone started asking once more “What is the Bitcoin price for today?” each morning.

What happened to the Bitcoin price?

There was a short hesitation around the $8,000 threshold, and then it turned into the euphoric Bitcoin bull when its price passed $8,500.
The moment coincided with the American Memorial Day holiday weekend, which did not appear to dampen enthusiasm for crypto since the market capitalisation of Bitcoin broke the psychologically-important $150 billion mark.

If we are to consider all cryptocurrency exchanges, Bitcoin is close to $9,000. This is seen as a “point-of-no-return”  for Bitcoin by some analysts. The positive sentiment continues as the next foreseen mark is expected to be towards $10,000.

TheTie.io indicates that within the previous month, Bitcoin tweet quantity has improved and it’s currently 98% greater compared to the average. Research by the Southern Methodist University (SMU) indicates there’s a good correlation between the number of Tweets and Bitcoin price: “By assessing tweets, we discovered that tweet quantity, instead of tweet belief (which is always overall optimistic irrespective of price management ), is a predictor of cost management…”

You can check the currency daily opinion and sentiment on TheTie.io.

Bitcoin is currently flourishing again on a yearly scale. We can all now see and understand the concept of hodl-ing your cryptos. For instance, those who bought cryptocurrency a year ago are now seeing positive returns.

This new annual high price was sufficient to raise the whole market: the cost of lesser-known altcoins, Ethereum, XRP, Bitcoin Cash, and Litecoin. They’ve all seen a daily growth correlated with the price of Bitcoin.

What’s the Bitcoin price now? Bitcoin Price analysis

Bitcoin price began consolidating after being traded for $9,000. We can expect a correction soon, but it’s very likely to climb above $9,000.

We found a significant up movement at Bitcoin price over the $8,300 and $8,500 resistances from the US Dollar. The BTC/USD pair also broke the $8,700 benchmark. The bulls took charge, and the cost traded near to the 9,000 level. A brand new 2019 high was shaped close to $8,952, and the price is presently consolidating profits.

More importantly, there is a vital bullish flag pattern forming immunity around $8,860 concerning the hourly graph of the BTC/USD pair.

Consequently, if there is an upside over $8,860 and $8,900, the price tag is quite likely to resume its upward motion. Above $9,000, the bulls will aim $10K in the coming days.

An intermediate resistance is near to the $9,280 threshold. Conversely, if there is a drawback below the 8,620 level, the buy price might trade between the $8,450 or even 8,425. The 50% Fib retracement level of the current rally at the $8,700 could be near $8,426.

Having a look at the chart, bitcoin price seems to combine recent earnings over $8,600. On the reverse side, if the cost starts a drawback correction, then the 8,450 service area could prevent losses. Under $8,425, the trading levels are near $8,300 together with the 100 hourly simple moving average.

Technical indicators: Hourly MACD — The MACD is quite likely to return to the bullish zone following the current correction is undamaged.

Bitcoin price began consolidating profits after trading 9,000 from the US Dollar. The BTC price could get corrected briefly, but it’s very likely to climb higher above $9,000.

What influences the price of cryptocurrency?

Bitcoin Price Diagnosis

We saw a substantial upward movement in bitcoin cost over the $8,300 and $8,500 resistances from the US Dollar.

The BTC/USD pair also broke the 8,700 immunity and settled over the 100 hourly easy moving average. The bulls took charge, and the cost traded near to the 9,000 level. A brand new 2019 high was shaped close to $8,952, and the price is presently consolidating profits. There was an evaluation of the 23.6% Fib retracement level of this current rally in the $7,900 reduced to $8,952 high.

More to the point, there’s a critical bullish flag pattern forming resistance around $8,860 about the hourly chart of this BTC/USD pair.

Consequently, if there’s an upside down above $8,860 and $8,900, the cost is very likely to resume its upward movement. An intermediate resistance is close to the 9,280 level.

Conversely, if there’s a drawback break below 8,620, the purchase price might trade involving the $8,450 or 8,425 supports. The 50% Fib retracement level of this current rally in the $7,900 reduced to $8,952 high can be close to the 8,426 level. Therefore, dips in the present levels are very likely to find support around $8,450.

Bitcoin price for today

Taking a look at the TradingView graph, bitcoin’s price appears above $8,700. It’s very likely to resume its rally over $8,860 and $8,950. The principal targets may be $9,120 and $9,280. On the flip side, if the purchase price begins a downside correction, then the 8,450 support region could stop losses. Under $8,425, the primary support is close to the 8,300 level.

Major Resistance levels are $8,860, $8,950 and $9,000.

Social media reactions on Bitcoin price for today

 


Perma-bull and Fundstrat senior analyst Tom Lee has stated that the “actual FOMO” will creep up after Bitcoin overtakes the $10,000 threshold.

Lee announced in reaction to some tweet by Financial Times journalist Adam Samson. Samson claimed in his view Bitcoin is led toward’flat 10 FOMO’ and that he declared a Fundstrat picture indicating level 5 FOMO is going to be triggered if Bitcoin retakes $8,900 and this is “equal to attaining $3,200 at 2017.”

In his tweet, Lee clarified that the “real FOMO” that will start when BTC/USD surpasses $10,000 is “a price level only seen 3% of all days [and] mathematically equivalent to exceeding $BTC $4,500 in 2017.” While Lee’s assessment is exciting, not everyone in the crypto community was convinced.

Several Twitter users tweeted doubts about Lee’s ‘false equivalency’, and a few countered that Bitcoin FOMO wouldn’t reach a peak until the top cryptocurrency overtakes the previous all-time high as this will be the “psychological point where all tourists will think the Bitcoin thing has legs.”

Formerly, Lee also called the price would likely hit $10,000 sometime this year.

While this dialogue is great for discussion, investors are convinced that since Bitcoin’s price continues to rise and so will the FOMO (Fear Of Missing Out). The upcoming halving event will bring Bitcoin to new all-time highs.