What makes people be interested in cryptocurrency?

What makes people be interested in cryptocurrency?

by | Jul 23, 2019 | Cryptocurrency, News

There is no doubt that the cryptocurrency world is getting bigger with every month that passes, and we are not talking about the capital market, but about the people actually interested in cryptocurrency. But what makes people be interested in cryptocurrency?

Is it the fast ROI due to volatility, is it the new stock exchange of the moment, what is it? We tried to pinpoint some of the reason for which people are increasingly more interested in cryptocurrency.

Financial advantages make people be interested in cryptocurrency

The interest in cryptocurrency is partly a result of the research people have made in finding better alternatives to the financial industry. Fintech is a fast-growing sector and it is seen as the new kid on the block. Like the internet was a few decades ago.

Clearly the interested in these topics had been on the rise, judging from an analytical point of view.

Websites like Coinmarketcap have reached traffic peaks with every rise of cryptocurrency prices, and that’s just a small indicator of the population interest. We are not talking about hearing about Bitcoin or cryptocurrency for the first time. Grandmas from South America have heard about Bitcoin from the radio. Now, we are keen to discover what makes people be interested in cryptocurrency and hopefully discover how to increase awareness and how to explain it to others.

Here are a set of points which seem to make people interested in cryptocurrency.

Cryptocurrency trading can lead to profit

Cryptocurrency has no borders

One of the defining characteristics of a country is that it has its own currency. The basic aspects of world currencies can be found in cryptocurrency as well, but there are improvements which the fiat currency lacks. Being able to perform borderless transactions is one of them.

By performing cryptocurrency transactions, where no centralized authority is in charge of that, and everything is transparent on the blockchain, payments and financial transfers can be done equally from any part of the world to another. There are no extra fees for overseas transactions. Everyone pays the same. Everyone can participate.

Cryptocurrency trading can lead to profit

As for any other field in this world, the possibility of making money using cryptocurrency is raising interest. Most people work hard for their dollars, but today’s technology makes it easier for individuals to invest, speculate or even get free money.

It’s not how hard you work, it’s how smart you work.

By learning the basics of investing, learning what newbies mistake to avoid making when trading cryptocurrency, trading cryptocurrency can lead to a profit. The internet is full of stories of how investing in cryptocurrency has changed people’s lives, but don’t get too hyped about it. You might be inspired with your investment, but don’t ever invest more than you are willing to lose and also be open to getting crypto from smaller projects.

Cryptocurrency keeps your identity private

Indeed, it’s advertised that blockchain keeps your identity private, but don’t get fooled. It mostly provides pseudo-anonymity. Because there is no bank or other central authority behind the blockchain, you get this anonymity. But it can also be traced back to you in more complicated or suspicious cases like money laundering or other criminal activity.

What makes people be interested in cryptocurrency?

Cryptocurrency is based on demand

They say that Bitcoin was created as a response to the financial crisis of 2008. It was meant to be a currency that doesn’t depend on banks and that it wouldn’t be affected by inflation.

Bitcoin is mined at a certain speed and it has a finite number. There is no way to fabricate more bitcoin, as it is the case with fiat currency. The value of Bitcoin is based on demand.

Cryptocurrency is transparent

And fraud-free. It doesn’t mean bad people can’t use it, it just means it is transparent and everything can be checked by anyone. No central authority doesn’t mean less control, but more. By using the block explorer of the blockchain, anyone can check what amounts were transferred to what addresses. And of course, you can backtrack addresses and/or amounts.

What makes people be interested in cryptocurrency?

Cryptocurrency can grow fast in value

This is where the profit can come from. That’s what makes the newspapers’ headlines. This is where all the media attention comes from.

And that’s a principal conductor of people’s interest in cryptocurrency. Based on a simple principle or demand, when someone or more individuals buy a lot, then the prices go up. If they sell, they go down. This is considered to be a risky investment, but most are in for the long run and don’t mind too much if Bitcoin or any other cryptocurrency has dropped 10%.

The best thing about this volatility is the awareness it brings and how it attracts more people, as many are attracted by the possibility of making a quick buck. But then most stick around because they learn about the blockchain technology and once it is understood, they can see how it can change the future of our financial sector.

Ready to read and discover more about Bitcoin, blockchain and cryptocurrencies? Start with the cryptocurrency beginner’s guide.

Learn how to predict crypto price trends

Learn how to predict crypto price trends

by | Jul 17, 2019 | Cryptocurrency

Cryptocurrencies are quickly becoming an alternative to the traditional fiat currency. Cryptocurrency has become available to buy in many countries, which makes it accessible to everybody. Some retailers are accepting a variety of cryptocurrencies, which might be an indication that cash as we know it is going to undergo a significant shift. Aren’t you eager to discover how to predict crypto price trends?

Additionally, the blockchain technologies have several other promising software. Implementations of secure, decentralised systems might assist us in beating organisational issues of security and trust, which have plagued our society. In effect, we could disrupt sectors core to markets, companies and societal constructions, eliminating inefficiency and individual mistakes.

So I ask you: how important is cryptocurrency in this context? If you consider crypto to be valuable, then here’s how to predict crypto price trends. After all, these steps should be followed for a successful cryptocurrency investment strategy.  We gathered some of the most known and used methods which can help you predict crypto price trends.

Start with analysing the market

Analysing the market and what kind of analysis to make is the key.

When talking about price analysis, we think about graphs that show how cryptocurrencies have played against fiat currencies, like the $US, over time. At first glance, they seem like meaningless lines moving down and up, but the information tells a story about how recent incidents from the crypto market have influenced costs and what may happen next.

The analysis is essential for traders. It will help them make informed decisions about when it is ideal to purchase, sell or hold crypto. Indeed, the oldest types of price analysis emerged back in the 18th century in Asia, as it had been used to plot fluctuations in the purchase price of rice. There are three kinds of analysis to be made: technical, fundamental and sentimental analysis.

The technical analysis involves discovering statistical tendencies based on historical action, analysing price movements and other indicators that are essential, such as trading volume. These analysts typically have the doctrine that prices follow trends and history repeats itself, and they utilise their information to predict if the cost will go down or up in the long run. Nevertheless, it is like calling the weather, so it might not become true.

Fundamental analysis requires another strategy. Rather than looking where prices are moving, they seem to be looking at what are the things that push the numbers. Like the market or the way the business has been handled, to ascertain an asset’s worth.

Sentimental analysis sees traders effectively take the pulse of important players in the marketplace: journalists, influencers and regular consumers one of them. Here, the philosophy is that data doesn’t always tell the full story. Tendencies such as fear selling or a purchasing spree could be picked up beforehand based on public perceptions.

Predict crypto price trends by reading charts

New to reading charts? Do not worry! It is much easier than you imagine. The graphs can come in a few different forms, but we will discuss the most used chart: the candlestick chart. You can find them in most crypto exchanges, and some even offer the option to change the kind of chart to be shown.

This is a critical step when proceeding with technical analysis. It’s essential to determine how prices have developed over days, weeks or even months. The average price for a period of a 24-hour interval will not tell the entire story.

Candlesticks show the details on how the cost of a crypto asset fluctuated throughout a single trading session and help you make comparisons between more extended periods.

There are a few things to remember about the way the candlesticks are constructed, that will tell you everything you need to know.

 

elements of candlestick how to predict crypto price trends

When costs have gone up over the course of one day, the chart will show a green candlestick. The thin line in the bottom indicates the lowest cost that has been listed for its crypto-asset throughout the trading session. The thin line on top shows the maximum price for which it was traded.

Let’s take a look at the rectangle. The base of it indicates the price for which the cryptocurrency or asset was trading when the market opened, and the top of the rectangle means the price upon closure.

When prices have a downward trend, the candlesticks turn red. The principle for studying the graph is the same, but what is inverted. The thin line on top indicates the maximum price, and the one on the bottom shows the lowest one. The trading session exemplified by the thick red line, from top to base, illustrates where costs stood as soon as the markets closed and opened.

It is a gorgeous invention that has been tried and tested for centuries. Because the crypto world could be so volatile, hourly candlestick graphs are common to find.

 

Know what action to take based on the charts

Traders look for familiar candlestick graphs.

Here are a few recognisable types of candlesticks.

Hammer candlestick generally offers a very long line in the base, which suggests that costs have dropped steeply before recovering to close higher. Ordinarily, this may imply crypto resources were being marketed widely throughout the trading session, but buyers exerted sufficient pressure to assist costs to rise again.

This routine may also be inverted.

Shooting star candlesticks look very like inverted hammers but happen in a different situation. These are generally seen after cost advances and indicate an asset might be about to set off on a downward tendency.

Hanging man candlesticks are also helpful for analysing when markets may begin weakening. These candlesticks appear when the prices have been going up for a while. The long thin line suggests that selling pressure of this trading session has come to an end.

types of of candlestick how to predict crypto price trends

When studying candlestick graphs, it’s vital to find a short-term perspective in addition to a long-term view. Also, don’t forget to take the necessary measures to safeguard yourself in the event of market volatility. This is generally achieved with a stop-loss or stop-limit, which entails mechanically selling an asset once it reaches a predetermined low or high stage. Also, remember that volatility is not all bad. Profits can be made even when crypto markets are going down.

Use the most popular technical analysis techniques to predict crypto price trends

The internet is full of articles and analysists trying to discover how to predict crypto price trends and to forecast where the market is going.

Here are two methods used by these analysts.

1. Trend lines

This method is trying to take out the anomalies and extreme outliers from the trend of one cryptocurrency’s price, in order to detect if there is an upward trend, or downward, if the prices are lowering on subsequent days.

This, together with assessing the form of candlestick graphs (mentioned above), can help show if there is or not a trend that will likely last or that will end soon, allowing traders to make considered decisions about which the short-term strategy they should adopt.

2. Moving average

This similar approach entails monitoring the price of a crypto asset over a definite time. You can set your period: a week, a month or even longer.

By comparing moving averages within a shorter time period with a longer period of time, you can discover new trends and significant levels of growth and decline that a long-term statistical observation would not clearly reflect.

tools for technical analysis how to predict crypto price trends

Even though this technical analysis is the most frequent kind of investigation in the crypto world, it is essential to consider other different variables too.

Always keep in mind that technical evaluation will not tell you the fundamental aspects which are impacting the marketplace and causing prices to head down or up.

Relying on just one kind of analysis is not enough.

Hacking attacks, regulatory rulings, news reports, business agreements and new product launches can help you to stay ahead. This information can also give a hint on where the candlesticks will fall before it does so.

Of course, there are other methods, if you are not the kind of person to stare at charts all day. But please keep in mind that these are just crypto price trends and predictions and that nothing is for sure.

To get the broader picture, it is necessary to stay connected with what happens in the crypto world on a daily basis.

Check out these other resources for a successful start with crypto investments:

How to make money when the crypto market is down?

How to make money when the crypto market is down?

by | Jul 15, 2019 | Cryptocurrency

Even when the crypto market is in a downward trend, there are still a couple of techniques you can use to make money. Of course, there’s a tradeoff between risk and reward, and it’s up to each one of us to find his personal balance between the two.

And if you don’t want to take any risks, remember that you can always get free crypto even when the market crypto is low.

Shorting

What is shorting? Shorting, or short sale is the reverse of purchasing a coin and expecting for the price to rise.

As soon as you close your short position, you then need to buy the exact same amount of coins at the present cost to provide the exchange back precisely the exact same quantity of coins.

Consequently, in a quick sale, the most desirable situation is one where you commence the short position in a high cost, and near your standing at a minimal price, hence selling high and buying low. This technique is usually utilised to hedge funds and reduce risk, but maybe a potent tool when confronting an elongated downturn in the marketplace.

Shorting is somewhat insecure as the losses are uncapped on account of the price’s capability to proceed upward without jump; at a lengthy-standing, your reduction is capped at the of their cost going to 0. 1 method of obtaining coins to short market is using a lending platform like ETHLend.

shorting how to make money when the market is down

Swing Trading

What is swing trading? Swing trading takes benefit of the short-term cost movements in a coin’s graph instead of looking at the massive macro trend.

Within a confirmed up or downward situation of price movement, there’ll remain little peaks and valleys at the cost as it goes within that general direction. Seasoned traders may consequently earn money from their micro-trends, purchasing the lows and selling the highs through a bear market. Within this situation, market volatility throughout crashes is the perfect scenario as it supplies the largest useful local optima from the graph.

swing trading how to make money when the market is down

To be able to conduct trades, you have to become knowledgeable about the many kinds of technical analysis like pattern formation, and indicators like RSI. This is only suggested for individuals who have a high-risk tolerance and enough experience utilising technical analysis to examine short term motions.

Passive Income Coins

In case you’ve got a lower risk tolerance and don’t need to utilise more innovative trading procedures, the next best thing would always be to hold onto coins which generate passive income irrespective of market action.

There are numerous coins which may create a passive income. However, the two most important kinds are staking coins and trade coins.

Staking coins, in exchange for regulating the community, provide added coins for each coin used from the staking procedure. Expect somewhere between a constant 5% to 10% annual yield for staking in the case of the majority of currencies.

Some proof-of-stake versions, for example, Ark’s DPoS, offer higher yields than more first versions of staking. Exchange coins give numerous advantages on exchanges like reduced prices, and a few, for example, KuCoin’s, offer a type of profit-sharing where a percentage of trade prices are returned into coin holders.

The percentage return from such coins is directly tied to quantity, which might fluctuate.

Staking coins are a lot more consistent and comparable to volatility, whereas trade coins continue to be insecure in that you’re gambling on the success of a specific exchange.

CoinDeal is giving 50 million tokens for free!

CoinDeal is giving 50 million tokens for free!

by | Jul 8, 2019 | News

CoinDeal is a cryptocurrency exchange released in  March 2018 and has gained worldwide recognition, especially after their partnership with the Premier League football team, Wolverhampton Wanderers. Their daily volume places CoinDeal as one of the very best cryptocurrency exchanges according to the CoinMarketCap ranking.

All you need to do to receive CDL, the CoinDeal free token, is to become a fully verified member of the CoinDeal community, and you will receive 100 CDL tokens for free.

CoinDeal’s goal

The team behind CoinDeal is all about the blockchain technology and is in for the long run. Their vision for the future is fuel by the endless potential of the blockchain technology, not just in finance, but in any other business branch.

CoinDeal provides access to over 40 cryptocurrency pairs, such as the most well-known ones, Ethereum, Bitcoin or Litecoin, but also many FIAT currencies: Euro (EUR), Dollar (USD), British Pound (GBP), Polish Zloty (PLN), Rouble (RUB) and Korean Won (KRW).  In the current crypto world, CoinDeal aims to bring the community together and get their fans involved in the decisions they make. They allow their customers to vote for new cryptocurrencies to be added to their trading platform.

Safety concerns

CoinDeal uses the innovative SSL standard integrated with Cloudflare safety attributes. Users must comply with sophisticated password requirements, mandatory 2FA and email confirmations required for warnings and withdrawals regarding login efforts made from different IP than generally. Exchange funds are saved in 90% in the cold wallets shielded by Multisignature.

CoinDeal’s team

The founders or CoinDeal are Kajetan Maćkowiak, Adam Bicz and Filip Dzierżak.

Kajetan Maćkowiak is engaged in the introduction of jobs from the blockchain technology sector for several decades. The expert experience helps to develop the company efficiently, in addition to managing marketing actions. He created the global umbrella manufacturer, which will be BlockchainHouse. He’s a co-creator of international brands like Paycoiner and BuyCoinNow.

Adam Bicz is the mind of CoinDeal, the primary programmer and head of the group responsible for creating a very stable and protected cryptocurrency exchange. Adam not only works under the brand BlockchainHouse but is also the founder of BuyCoinNow and Paycoiner payment gateways.
Filip Dzierżak is in charge of producing, communicating and executing the company’s vision, mission, and general management.

coindeal cdl free token

CDL is the CoinDeal token they are giving 50 million CDL for free!

Over the past 12 months, CoinDeal has developed CDL utility token on the EOS blockchain, which will be available for trading once the distribution is complete. By releasing the CDL token, CoinDeal wants to step closer into creating the bridge between the fintech and the power of cryptocurrencies.

The aim of this cornerstone action of the cryptocurrency exchange is to keep the business moving forward and to come to aid to smaller customers. The new CDL token can be used to lower trading fees, vote for the addition to the market of new crypto, access additional trading features and more.

CoinDeal is the first cryptocurrency exchange to offer such a treat for their customers. They are giving away, for free, 90% of the total CDL generated tokens. That is, only 450 000 users can get it, and after the distribution is complete, the token will be available for trading against BTC, EUR, USD, GBP, CHF, KRW, PLN, and more!

All you need to do to receive the CoinDeal free token is to become a fully verified member of the CoinDeal community, and you will receive 100 CDL tokens for free.

Are you looking for other ways to complete your portfolio or get free crypto? Check out these other platforms offering free cryptocurrency.

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

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

by | Jul 5, 2019 | Crypto wiki, News

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

by | Jun 27, 2019 | News

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