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PM7 ICO Review: Introducing Affiliate Marketing Programs Through The Blockchain

By
Fernando Sanchez
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0
Pm7 Ico Review: Introducing Affiliate Marketing Programs Through The Blockchain
Pm7 Ico Review: Introducing Affiliate Marketing Programs Through The Blockchain

Advertising on the internet is big business. Statistics show that the market volume this year (2017) will reach almost $228bn, and this figure is expected to grow to $335bn by 2020.

That is a big pile of loot, and many companies and entities want to join in the action and get their share.

There are many ways to advertise stuff through the net. Display ads, Google Adwords, Banner Ads, etc. All these have good market reach when they are targeted to the right audience.

But when it comes to rewards-based marketing, the best tool out there is affiliate marketing. In this model, a business rewards one or more affiliates for each visitor or customer earned by the affiliate’s own marketing campaign.

PM7 is a new ICO, offering a blockchain-based affiliate marketing platform that intends to directly connect creators and innovators with their potential customers.

This piece is an analysis of the facts available about the PM7 ICO. It should not be read as offering advice or a recommendation. While ICOs have quickly become a popular tool for funding projects and start-ups, they can also be very high-risk for token purchasers.

Additionally, ICOs currently have an unclear legal and financial status. Token buyers may find that their purchase does not offer them any security or equity because the ICO is closer to a crowdfunding initiative than a traditional IPO. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence.

PM7: Connecting innovators with customers across the blockchain

The idea behind the PM7 proposition is the creation of a decentralized marketing platform that enables project creators, innovators, and entrepeneurs to connect directly with their potential customers, thus removing the need for intermediaries such as marketing or advertising agencies.

Blockchain technology allows this direct connectivity.

PM7 in figures & quick facts

https://twitter.com/pm7com/status/942299549749727232

  • Token Name – PM7
  • Token Value – 1 PM7 token = $0.05
  • Tokens Issued – 1,000,000,000
  • ICO Start Date – December 17, 2017
  • ICO End Date – March 4, 2018
  • Token worth – $0.05
  • Hardcap – $12,500,000

Payments can be made in BTC, ETH, LTC, and any fiat currencies.

The PM7 token

As with any other ICO, the company will issue its own currency, the PM7 token (PM7), which is based on the ERC-20 standard.

According to the company, “the PM7 tokens perform infrastructure functions and they are the identifier, the unit of measurement of PM7 events, and quantity of PM7 events per month that the backer receives by purchasing events during the ICO.”

Once created, the PM7 tokens will be distributed as follows:

  • Contributors – 50%
  • Company – 20%
  • Advisors and Team – 13.6%
  • Investors – 15%
  • Bounty – 1.4%

All unsold tokens will be destroyed at the end of the ICO.

The team

PM7’s website lists 10 people as core team members, plus seven advisors.

The team includes a balanced mix of technical people (blockchain experts, software developers, etc.), and financial staff.

The Advisory Board brings in a lot of additional blockchain & cryptocurrencies expertise. Overall, the team appears solid and well balanced, with the right set of skills to suit this ICO’s objective.

Social Media presence and digital footprint

A strong presence on Social Media is usually a good indicator of a company’s popularity, though it is not the only factor that determines success.

Here’s the numbers for PM7 at the time of writing (December 2017).

  • Twitter – 984 followers
  • Facebook – 88 followers
  • Medium – 148 followers
  • LinkedIn – n/a followers
  • Telegram – 138 followers

So far, this ICO’s presence on Social Media appears to be rather poor, but this is common for start-up ICOs. PM7 does have a lot of work to do on the Social Media front over the coming weeks and months.

Competition

There are other ICOs out there offering decentralized affiliate marketing programs. Bitcomo and Hoqu, to name just two.

This means that PM7 will need to better these ICOs’ offering, if it’s to gain a good market share. The first step would be to establish a more solid presence on Social Media, to extend its reach and make its value proposition known.

Other ICOs offering affiliate marketing programs are likely to come into the market also, the pie is bound to become smaller as time goes by.

Website quality & layout

An ICO’s website is the first port of call for any potential investors, and if the site isn’t appealing enough, they will move on and forget about your proposition, no matter how good or viable it may be. It is therefore imperative to design a good website, to make a strong and lasting first impression.

PM7’s website is secure and well designed, with a pleasing color palette and properly laid out information. The language could be improved in a few areas though, such as the FAQ for instance. This sort of problem is very easy to avoid by hiring a proofreader, though the budget may not always be readily available there.

In any case, PM7’s site is easy to navigate and use.

Whitepaper

A well laid out, informative, comprehensive Whitepaper is a must for any ICO, if they are to be taken seriously. Documentation is sometimes treated as an afterthought, leaving many companies open to some criticism.

PM7’s Whitepaper comes in on the brief side, just shy of 30 pages. Though brief, the paper is very informative, providing background information on the ICO’s proposition and concepts, etc.

Once again, the language used throughout the paper is rather poor in places. This detracts from the overall experience, and it is entirely avoidable.

All things considered, the PM7 paper ranks as ‘passable.’

Conclusion

The idea of developing affiliate marketing programs on the blockchain is a rather interesting one. The technology allows for a decentralized implementation of the marketing strategy, potentially connecting innovators & project developers with their customers directly.

This direct connection may play in everyone’s favour, enabling a quicker and more profitable turnaround time for everyone.

We’ll keep a close look on PM7’s proposition and report back on its progress.

SEC Suspends Crypto Co. Trading As Stocks Soar 17,000%

By
Daniel Wood
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0
Sec Suspends Crypto Co. Trading As Stocks Soar 17,000%
Sec Suspends Crypto Co. Trading As Stocks Soar 17,000%

The US Securities and Exchanges Commission (SEC) today has suspended trading of The Crypto Company until midnight January 3rd, as stocks of the Malibu-based company achieved 17,000% appreciation in value over the last three months, almost tripling in the past week.

According to Financial Times report, the SEC had called for the suspension citing concerns over “the accuracy and adequacy of information in the marketplace about, among other things, the compensation paid for promotion of the company, and statements in Commission filings about the plans of the company’s insiders to sell their shares of The Crypto Company’s common stock.”

Little seems to be known about the physical operations of The Crypto Company, which describes itself as a consultancy offering a portfolio of digital assets and technology to cryptocurrency markets, with plans for a “rollout of a full scale, high frequency cryptocurrency trading floor.”

Its stock was traded over the counter, starting at below $0.05 until September, when demand became red hot, with shares hitting a high of $642 earlier this month. The company had been preparing to do a 10:1 stock split when the SEC suspension was announced.

The news will likely remind traders and other markets that the SEC has its eyes fully trained on crypto currency and companies related to them, as more investors and market analysts sound the alarm of an impending crypto bubble burst.

The crypto craze has seemed to lend immediate value to other stocks and companies, with Nasdaq-listed shares of trade finance specialists Longfin gaining a 1,000% gain last week when it announced plans to buy blockchain firm Ziddu.

Representatives of the stock have not responded to press comments.

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We’d love to hear more from you, let us know what you think and we can also feature your company too.To talk to us about rate card, marketing options or promoted content, contact our marketing team at [email protected].

Russian Crypto Media Outlet Accuses Ukrainian Security Service Of Unlawful Conduct

By
Ali Raza
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0
Russian Crypto Media Outlet Accuses Ukrainian Security Service of Unlawful Conduct
Russian Crypto Media Outlet Accuses Ukrainian Security Service Of Unlawful Conduct

The popular Russian crypto news outlet, Forklog, has accused the Ukrainian Security Service of unlawful conduct and harassment during an unwarranted shakedown last week.

Anatoly Kaplan, the owner of the Russian cryptocurrency news outlet, Forklog, has recently stated that his company has been harassed by officials from the Ukrainian Secret Service (SSU). Last week, SSU agents searched both the new outlet’s offices situated in Odessa, as well as Kaplan’s home. According to the SSU official at the time, the search was conducted to investigate a possible affiliation between Forklog, and instances of U.S. citizens committing crimes.

The SSU is a Ukrainian law enforcement agency that focuses on acts associated with counterintelligence as well as terrorist activities. According to Kaplan, the SSU agents stated that they were searching the premises of Forklog as well as Kaplan’s home to investigate a possible connection between US and Ukrainian citizens committing fraud. The SSU also stated that the suspects exchanged bitcoin to the Ukrainian fiat currency, hryvna, using Forklog’s platform. However, since these events, both Kaplan, as well as the Russian media, has accused the search as unwarranted as Forklog does not even have an exchange service. Kaplan has confirmed that Forklog does not have the available software to enable them to do this.

According to Kaplan, SSU officials confiscated his laptop as well as several storage devices during the search. In addition, a particular SSU agent attempted to transfer a portion of Kaplan’s bitcoin holdings to another address. Kaplan added that the agent was halted in this after Kaplan’s lawyer intervened and told the agent that that would be considered robbery and dealt with accordingly. Despite this, the SSU agents continued to take Kaplan’s laptop, and the following day, a large portion of Kaplan’s ethereum funds was transferred to another address.

Kaplan stated that he has decided to make this public, as it illustrates the need to form a friendly relationship between the state and cryptocurrency and its users. The forklog owner added that it’s about ensuring future protection for the entire crypto community, and not about protecting his own interests. Kaplan added that it sent a message to all members of the crypto community, that they’re not safe, not even if you’re a prominent public figure.

According to Kaplan, the company is now engaged in attempting to retrieve the items that were unlawfully taken from him and Forklog offices. The fact that SSU agents attempted to transfer crypto funds seems, at best, an unusual and strange practice. In addition, Kaplan’s lawyer has detected several procedural violations during the search, such as the fact that agents turned off the camera.

Perhaps more alarmingly, Kaplan and his lawyer confirmed that SSU agents routinely conduct unwarranted searches and harassment campaigns against individuals and firms in the tech and blockchain industry. The so-called “Search Season” has been active since 2015, and it involves SSU officials raiding well-known figures in the tech industry.

Blockchain and cryptocurrency-related firms have also fallen victim to Search Season, as the SSU also recently raided the bitcoin firm, Kuna Bitcoin Agency. In this raid, both the Kuna offices, as well as its founder, Michael Chobanian’s, apartment was raided. Kaplan notes that mining farms have also recently registered on the SSU’s radar.

However, Kaplan confirmed that he and his lawyer intend to file charges against the unlawful conduct of the SSU.

Kaplan’s lawyer stated that after taking legal action, they expect all confiscated items to be returned as well as to get a reaction from the SSU and to start a conversation regarding law enforcement’s apparent hostility to the tech department. Kaplan’s lawyer added that this will prove a watershed case for the tech and crypto industry of Ukraine.

ICOs This Week: Envion Taking On Renewables, BACTOALARM The Packaging Changing Color And AML Moving Into The Mainstream

By
CryptoCoin.News TV
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0

CNN looks at three ICOs this week in the energy, bacteria and AML space.

  1. ENVION

One stop shop in modular crypto rigs

Envion purports to be one shop in modular crypto rigs. They have a clear focus on green energy with their main pitch offering cloud/crypto mining kits. These specialized kits deliver renewable energy at almost zero cost according to their white paper. There is no mention, however, if the company has any commercial price agreements in place.

Most investors will look for hard evidence that their green renewable mining kits work which is not apparent. There is also an absence of a rollout program and no mention of physical sites – or if the physical sites might require planning permission.  Other possible issues appear to be a lack of experience in these installations. Finally, should they be successful, will the company be able to scale?

Professionally presented ICO

As far as the actual ICO documentation is concerned this is well presented and is well weighted towards crypto and mining. On the negative side, the website offers highly speculative return figures but failed to supply a more detailed financial model.

The whitepaper does not have any SWOT equivalent of any type and there is no mention or evidence of a market analysis, therefore it does not identify the relevant competitors in the market.

Interested parties might invest some time and google on modular mining rigs, cloud crypto mining and ICO crypto mining to see if they can find comparable ventures that could give any potential investors some information and yardsticks to help in a proper evaluation.

Envion has a launch date which runs from the 15th of December through to the 14 of January with a 30% presale bonus scaling back to no bonus by mid-ICO. It has a hard cap of $150,000,000 and while there is no formal soft cap stated, the references noted that if they raise less than $7 million they will spend the funds mainly on business development and will not purchase any equipment.

Heavy on tech, light on rollout

The team appears to be young and energetic, with skillsets weighted towards the crypto world and a bit of emphasis on solar energy as well.

The team appears to lack experience however in the supply chain management and network implementation/maintenance.

Envion has a decent social media presence: Twitter 4407, Facebook 37 284, Instagram 12 100, Telegram 11 951.

Overall there is a good buzz around Envion; but investors need to be aware that while good ideas are valuable, execution and delivery on promises are key.

2. BACTOALARM

BactoAlert – a revolutionary labeling system that detects bacteria.

BactoAlert is a revolutionary new breakthrough in biotechnology and food labeling. It is a simple invention, a food label that detects unacceptable levels of bacteria in food and changes color accordingly.  The company claims to be fully patented and linked up with a suitable manufacturer and is ready to hit the global market in a major way.

BactoCoin – Is it a currency or is it a token?

The BactoCoin is not really a currency – in that it might be tradeable in future. The concept seems to provide a token that they can use to get crowdfunding for their innovative patented idea.

Traditional fundraising is not easy, so it would appear the BactoAlarm team has decided to opt for the ICO business model. The ICO seems to be have been done on no budget; there is no mention of a technical team within the structure. This may mean that they have added the ICO attempt at a late stage within their development and don’t fully understand the need for a good solid tech support to be demonstrated.

It is also important to include building a social media buzz around their product. For now, they are taking the Henry Ford approach and believe that their product is strong enough to stand on its own and speak for itself.

A team based heavily in science but not technology.

With this approach, they are polarizing the investment prospects which will make it interesting to see how they do in their new climate. After going through the whitepaper, and the associated materials, it definitely seems like they have been working on their invention for quite a while and have academics involved as well as legitimate manufacturers. This will be a test of pure innovation; how good that innovation is and how well can they convince the public/their audience of its profitability.

Their business plan is not entirely detailed, and there seems to be a lack of heavyweight business acumen to push this one forward, they need to bring a broader base of skills to push their current route.

Important factors – independent verification of the invention.

Key to the success of this project is the strength of innovation. To this end, they advertise their patents and provide insight into current tests and experiments. While this is impressive, a prudent investor would also investigate independent verification for the tests they are running on their invention. Another missing component was a full business plan and the proposed roadmap to profitability.

Once the third party, independent verification can be obtained, this could prove to be an exciting project to invest in but the public verification is key at this stage.

Bacto is running for one week only from the 14th of the December to the 23rd. There is no presale on this one. The token is BTN (Bactocoin) worth 25 CHF (Swiss Francs). There is aim to sell 4 million BTN during this week and aim to raise approximately $90 Million. There seems to be no information on the soft cap as of yet.

3. COINFIRM

Crossover product from crypto to mainstream

This is a rather complicated offering that wishes to bridge the need for better risk and compliance reporting. The pitch is all about compliance and risk management. They are aiming for mass adoption of cryptocurrencies to the mainstream market and are all about “anti money laundering” (AML) and “know your customer” (KYC).

They have a large, well established social media presence: Twitter 2800, Facebook 760 and they have an impressive list of positive articles across crypto and financial media. They have a large team with established names that check out, along with some heavyweight partners.

Managing risk, compliance, and audit

Many companies struggle with regulatory compliance. Coinfirm’s Amlt network focuses on three specific aspects of regulatory compliance, including Anti-Money Laundering (AML), Counter Terrorist Financing (CTF), and Know Your Customer (KYC).

These regulatory requirements play a crucial role in the blockchain and cryptocurrency industries. The Amlt whitepaper explains that these requirements have “been a massive roadblock to their overall mass adoption.”

Platform agnostic working across BTC, Ethereum, and Dash

The compliance product so far is set to work with BitCoin, Ethereum, and Dash and is platform-agnostic. The product definitely appears from everything presented to be legitimate and generating interest, claiming $6 million raised on the first day of its ICO. Whilst it might not promise the quick rich fortunes of some of the edgier ICOs, this is definitely worth examining in detail if you are looking for solid bets.

Amlt ICO runs from 12th December 2017 – 30th of January 2018. 10,000,000 Amlt’s being offered currently at about $40-50 million value. It is an Ethereum based currency with the ratio being 1 AMLT to 0.00003387075 ETH.

 

 

CharityStars, Aiming For The Stars

By
Jillian Godsil
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0
Charitystars, Aiming For The Stars
Charitystars, Aiming For The Stars

‘We are all in the gutter but some of us are looking at the stars.’ Oscar Wilde

Four years ago Francesco Nazari Fusetti set up CharityStars, a fund raising platform for charities. It linked celebrities with charitable causes, delivering funds to charities in a transparent, online manner.

Initially Fusetti approached celebrities, looking to get them to donate their time, possessions or support for charity. Over time, this has changed and charities began instead to approach the CharityStars platform to post their projects with their own celebrity ambassadors; CharityStars having proven an ability to deliver – matching causes, celebrities and donors – the latter now numbering 40,000 active people.

Fusetti is very proud of his organisation pointing to the $10 million raised since the formation of the company with mainstream charities benefitting such as WWF, UNICEF and Save the Children.

With the original office located in his native Italy and still accounting for more than 30% of all income generated, new offices have been opened in the UK and US. This is important as while the donors and bidders are worldwide, many of the celebrity experiences on offer are geographically based – such as lunch with a star or a poker game with an entrepreneur.

Monies are raised in three ways; the main income is by auctioning off a celebrity experience or luxury product, secondly income is derived from direct bids on products and finally people can enter a sweepstake for $5 which enters them for a random draw for a special prize.

CharityStars takes 15% commission on the net monies raised; sometimes there are third party costs but these fees are capped so that the minimum sum delivered to the charity is 72% of the total.

‘Porting our platform onto the blockchain was a natural move for us,’ explains Fusetti. ‘Our core business has been about transparency in the charity sector.  There is an inherent distrust on how charities are managed – in direct opposition to people’s inherent desire to support their cause. We were able to bridge that gap initially through a transparent online platform – moving onto the blockchain when it became available was the obvious next step.’

This year, CharityStars created and backed AidCoin, an ERC20 utility token that allows people to donate to charities while easily tracking their donations on a public ledger.

By using blockchain technology to track transactions, cryptocurrencies to transfer funds and smart contracts to ensure donations are spent correctly, CharityStars aims to introduce a new layer of transparency, traceability, enabling a better connection and increased trust between donor and recipient, and in turn helping charities to raise more money.

‘The beauty of the blockchain is that we can show total transparently how money is donated and spent. There are no hidden fees,’ says Fusetti. ‘Every donor can see their donation.’

CharityStars recently ran a number auctions to have lunch and even play poker with some of the industry’s most prominent leaders, such as Ryan Taylor, CEO of Dash, Brock Pierce, Chairman of the Bitcoin Foundation, serial entrepreneur Jeremy Gardner, Erik Voorhees, CEO of ShapeShift and Galia Benartzi, Co-founder of Bancor.

‘This raised $60,000 for the associated charities,’ says Fusetti.

Asked about his wish list celebrity experience Fusetti was firm in his answer: ‘I would love to meet Vitalik Buterin – he has changed the world, although I am not sure if I could bid enough to win that experience,’ he says. ‘But I would also have enjoyed meeting our top tier blockchain industry leaders. I am very engaged by this space.’

AidCoin also allows charities to integrate a donation button, called AIDPay, on their website that enables the acceptance of cryptocurrencies for their fundraising campaigns. Donors can donate in any cryptocurrency or altcoin that will then be converted into AidCoin at the current exchange rate. CharityStars will be the first platform to utilize the token internally among its community of 40,000 bidders.

“With the rapid adoption of cryptocurrencies holding the potential to impact the way in which we donate, I am certain that AidCoin is set to play a leading role in this new era of fundraising,” concluded Fusetti.

In its November pre-Sale, more than $4million was raised and now the company is looking at its full ICO in January 16, looking to raise 30,000 Ether or whatever that will equate to in dollars.

Cryptocurrencies Bring Greater Freedom To Individuals, David Drake, Global ICO Expert

By
Jillian Godsil
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0
Cryptocurrencies Bring Greater Freedom To Individuals, David Drake, Global Ico Expert
Cryptocurrencies Bring Greater Freedom To Individuals, David Drake, Global Ico Expert

“The beauty of Cryptocurrencies is that they offer the same freedom to the individual as that traditionally enjoyed by large corporates”

It must be the Swedish nature of David Drake that lends him to want individuals to enjoy the same tax and privacy privileges of large corporations. ‘Isn’t that the beauty of owning Bitcoin,’ he says on the line from New York.  ‘Anyone can enjoy the lack of intrusion or censorship operated by countries – it’s all about freedom.’

Drake is the CEO and founder of LDJ Capital, a Multi-Family Office that looks after the wealth of UHNW (ultra high net worth) individuals and families. An independent financial institution, LDJ Capitals claims to offer its clients financial advice that is uncomplicated by franchises or connections. And recently Drake has been chatting about the benefits of cryptocurrencies on public platforms and in interviews. ‘Although I do not give trading advice,’ he emphasis, ‘I am not a trader.’

Having said that Drake scored highly on the ICObench people list – at a cool 51.6 – topping the poll of ICO bench people where he is also linked to more than 10 ICOs, both as investor and adviser – including Ambrosus (November 26) covered here a few weeks ago.

‘I like cryptocurrency and see value in buying them,’ says Drake. ‘I personally hold about 30 different coins and intend hanging on to then and watching them grow. But I find people can be nervous and they are not without reason.’

Drake reckons there are three main impediments to mainstream adoption.

The first is lack of knowledge. ‘What I don’t understand I don’t trust. If people don’t understand cryptocurrency they will prefer to ignore it rather than do anything about it. No one wants to look foolish or stupid,’ says Drake.

‘Secondly, there is no insurance on cryptocurrency,’ he says. ‘The industry is crying out for insurance and peace of mind. We need to know that an insurer has got your back. If someone will offer insurance then you can be sure people will be prepared to pay for it.’

Finally, Drake reckons for cryptocurrency adoption to go mainstream, there needs to be bankers to mediate it. He laughs at this point as he is now directly arguing against the disintermediary nature of blockchain and cryptocurrency.

‘I know,’ he says, almost ruefully, ‘but if you want mainstream adoption, then people need to understand how to invest in cryptocurrency. Most people who invest their money in the stock marker are not traders but people who place their money with traders. Same too with cryptocurrency.’

The idea of insurance leads us onto security against theft. I moot that it is scary to think that people have lost fortunes in bitcoin in forgotten laptops or devices. Or even that if you forget your password and device, the money is gone too. And what about robbery of exchanges and I mention the theft of $70 million from a cryptocurrency mining marketplace NiceHash on Wednesday.

However, Drake points out that people get robbed all the time – up and down the country – just not for such vast amounts. Being robbed of cash is very easy, however;  just leave some under your mattress and see what intruders can take. But no one speaks of the inherently untrustworthy nature of cash, so what makes alt coins different? Their novelty of course.

Drake has been involved with different crowdfunding projects for many years and stresses that theft here is also very low. ‘However, one big fraud and everyone might turn against crowdfunding. It is all in the perception.’

Drake set up early meetings four years ago with the US Securities Exchange Commission (SEC) on the regulations surrounding crowdfunding. ‘We were mostly self-regulating but we knew we could not overstep the mark.’

He reckons that Bitcoin will go to $40,000 by the end of 2018 and he is personally holding onto his coins. ‘I predict that the next big influence on price will be the entrance of institutional funds into this space.’ He says.   ‘We are no longer talking about dollars but millions and millions of dollars investing and trading cryptocurrencies. Those big cheques will make a huge difference,’ he says.

So, while he is not giving financial advice, Drake reckons the price has a bit to climb he may well be right.

He is not alone in his predictions as John McAfee, antivirus founder, privacy campaigner and wanted man, claimed on Twitter in November if bitcoin doesn’t make $1 million by 2020 he will eat his d*ck on live television.

 

Zerocoin 2018 Roadmap, Will It Be Zcash For Everyone?

By
Sponsored
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0
Zerocoin 2018 Roadmap, Will It Be Zcash For Everyone?
Zerocoin 2018 Roadmap, Will It Be Zcash For Everyone?

The Zcash cryptocurrency has stood out in the Blockchain Industry for its advanced privacy and security. These elements have earned them an increasing popularity among the users of cryptocurrencies. In just 14 months of its launch, the current value of this cryptocurrency is quoted at $545 and promises to grow more in 2018. Additionally, they are also planning on developing a mobile wallet to store cryptocurrencies.

Zerocoin 2018 Roadmap, Will It Be Zcash For Everyone?

(Zcash website)

In an official statement published in the blog of the developer Zerocoin Electric Coin Company (ZECC) named “Zcash for Everyone”, it detailed the work map of Zcash that will begin to be implemented in June 2018. It is characterized by new security updates, the launch of a new protocol network and the development of mobile portfolios that support ZEC, among other applications.

“Our team of scientists and engineers are focused on safely and seamlessly deploying this breakthrough cryptographic innovation to the world-wide Zcash network, even when that network grows and supports an increasing load of usage”.

Zooko Wilcox.

Zcash Founder and Chief Executive Officer.

The first update will take place in June 2018 and will be focus on improving the security and ease of use of Zcash in smartphones, a measure that will benefit 2 billion users worldwide. The first part consists of an update of the network “0” called Overwinter, designed so that the network can support the following updates in terms of security and governance. Further details should be announced soon. However, they mentioned that the next projects could include improvements in the scalability, unlimited transactions, new consensus algorithms based on Proof-of-Stake (PoS) and private and scalable Smart Contracts.

The second update will begin with the activation of the Sapling protocol in September 2018, which will reduce configuration risks, more shielded transactions and better governance and will be supported by the configuration of open participation parameters for Power of Tau. This update decreases the risk of setting parameters for zk-SNARKs applications and other applications that operate outside Zcash.

Also, the Zcash developer community is also planning to launch a mobile wallet application specialized in the platform, an ambitious project that could revolutionize the cryptocurrency market.

For the moment, the network has already had considerable development success with the launch of the reference client software, better known as Magic Beam. It has implemented other solutions that have generated a strong early adoption with significant transaction volume.

As an example of this, we could ping out the important association with the financial entity J.P. Morgan and the launch of the Zcash Investment Fund, measures that in the future could position this blockchain as a financial industry and open the way for a more traditional stock market system. Also, the website “The Internet Archive“, which is a non-profit project founded in 1996, whose goal is to generate a web library that offers digital files permanently to the educational community, has recently begun to accept donations in Zcash format, Bitcoin Cash, in addition to the popular Bitcoin.

Recently people like John McAfee have made a reference to Zcash and other cryptocurrencies which if you want to have more information you can read the complete article here.

Bitcoin Transaction Fees Rise As Price Booms

By
Ali Raza
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0
Cryptocurrency Moves Closer To Mainstream As Ebay “seriously Consider” Adding Bitcoin As A Payment
Cryptocurrency Moves Closer To Mainstream As Ebay “seriously Consider” Adding Bitcoin As A Payment

As the bitcoin price is promising to end 2017 on a high note, high transactions fess continue to plague bitcoin users.

It’s almost impossible to think that the current transaction fee to send a single bitcoin currently amounts to the cryptocurrency 2013 value of $20. While bitcoin enjoyed unprecedented and meteoric price increases this year, bitcoin enthusiasts are becoming more dismayed with its popularity and subsequent congested network as everyone wants to get in on the Bitcoin gold rush. The rapid growth has been bittersweet as bitcoin believers have finally vindicated the naysayers, but the network hasn’t evolved quickly enough to keep up with its growth.

In future historical records, 2017 is likely to stand out as a turning point for bitcoin. Very few bitcoin advocates could have predicted that the cryptocurrency would reach $20,000 at the close of the year in January 2017. However, the growth also brought its share of obstacles, most notably the rising transaction fees. Currently, a single transaction starts at $20, a great indicator that the network needs to find a solution for its increasing issues caused by its growing popularity.

While it’s not clear whether Satoshi intended bitcoin to serve as a P2P for micropayments, what is clear is that bitcoin is becoming quickly stripped of its utility thanks to exorbitant transaction fees and slow transaction times. Users across the internet have been complaining about high fees and undependable transaction times, while bitcoin advocates and developers are slow to act on finding a solution.

One particularly angry Reddit users questioned the great Satoshi’s wisdom as bitcoin is basically useless when it comes to payments less than hundreds of dollars. The user noted that when sending a friend $5, they have to pay a $15 transaction fee. Something which is wildly impractical and seemingly counter-intuitive considering the philosophy behind the decentralized cryptocurrency.

Users responded by advising the enraged Redditor to either change their wallet settings, be patient for networks to be fully functional which promises to address the issue such as Lightning network or to simply accept their fate.

While these are likely the user’s options, being told to simply wait is a hollow reassurance when an urgent $5 becomes an unnecessary $20.

Every bitcoin user has a price for which they are willing to part with their bitcoin, not only when it comes to selling, but also when it comes to simple transaction fees. While coughing up an extra $20 when you’re transferring millions of dollars’ worth of bitcoin seems reasonable, but for micropayments of $100 and under seems ludicrous. Bitcoin has been unconducive to micropayments for quite some time now but is quickly becoming a hostile environment even for mid-sized payments of $2,000 and under.

Which begs the question whether bitcoin is doomed to simply act as a digital asset because no one can afford to utilize the cryptocurrency in everyday life?

A large portion of new bitcoin investors is of the middle-class, not the ultra-wealthy. These people likely put $50 a week or a month aside to gradually invest more in the cryptocurrency. Crypto newbies are often told to store their holdings in a wallet where only they have access to their private key. However, with current transaction fees, new investors will not be able to move their cryptocurrency from an exchange to their wallets, simply because they cannot afford the transaction fee.

If we compared cryptocurrencies to energy resource, bitcoin could be compared to coal. It’s expensive to transport and useless in small amounts. Unless an investor is willing to invest a significant amount at a time, it’s impractical and loses its utility and potency. Several of bitcoin’s counterparts are more practical and easier to come by such as ethereum or bitcoin cash.

Despite the growing elitism of bitcoin, it is the cryptocurrency which promises the most stability and longevity. Considering bitcoin’s growing value, popularity, and market dominance it’s less vulnerable to possible destruction. However, the scaling issues have to be addressed. Whether Lightning Network will prove to be the much-longed-for solutions, this remains open to hopeful speculation. Until such time when bitcoin finds a solution, the cryptocurrency will essentially remain useless when it comes to utility and be doomed to remain as a purely abstract digital asset.

Creating An Effective Accounting System For Cryptocurrency Portfolios With FinTab

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Sponsored
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Creating An Effective Accounting System For Cryptocurrency Portfolios With Fintab
Creating An Effective Accounting System For Cryptocurrency Portfolios With Fintab

FinTab offers an Accounting System for Cryptocurrency Portfolios

Blockchain technology continues to advance, both in applications and popularity. There are new and exciting cryptocurrency projects are popping up all over the world. These have captured the interest of investors, traders and investment funds keen  to support new ideas and also naturally profit this as well.

Despite this it is not that straightforward to invest in cryptocurrencies. It can be hard for new users to know where to buy, store and manage their purchase. Cryptocurencies, or altcoins, are often distributed across various exchanges, where rates often vary dramatically. It can be unclear how to buy cryptocurrencies, which creates a problem accounting for cryptocurrency portfolio.

Tracking different currencies on different exchanges in one single portfolio is a challenge. It would be useful sometimes to know, in one place, what your overall balance is, across all of the places where you have money stored. This problem helped inspire the FinTab system.

What is FinTab

FinTab learned from imperfections in multiple cryptocurrency tracking solutions available on the market. It also drew inspiration from CryptoCompare’s portfolio, a service currently in beta stage was also studied to understand how to create the best product with an awesome tracking experience.

https://youtu.be/zjiMwkhMvMQ

Problems include complicated, overloaded systems with data overload, a lack of trading recommendations, no automated accounting or transaction flow. These problems can be boiled down to a lack of personalization for investors with differing needs. Different people  need different types of tools.

In the white paper this is demonstrated;

“There is no need to make a detailed review of all existing systems. Everything boils down to the fact that they do not take into account the main principle – any service is designed for people. Therefore, it is important to understand what is really needed and important for each audience.”

FinTab aims to deliver a service combining user-friendly design with functionality to serve the needs of different user groups.

The working beta version of FinTab is not limited to cryptocurrency portfolios and allows for further interaction and freedom. These include a system of analytics and signals to help investors make smarter choices. There is also a  decentralized advertisement placement system with peer-to-peer interactions to allow traders to exchange information and knowledge.

FinTab has different types of packages for  different investors. You can chose “Start”, “Pro”, or “Manage” packs. These give users different levels of access, they are purchased with FNT, FinTab’s native token, however their value is also pegged to the USD.

Learn more about FinTab here.

Token and ICO

FinTab will features its own native token, the Ethereum-based cryptocurrency FNT. This token will allow users to purchase FinTab services and advertise on the platform through a decentralized ad system.

To fund further development and marketing of the FinTab platform and ensure a fair and transparent distribution method, FinTab’s Initial Coin Offering (ICO) started December 14th. During the ICO, a  A total of 16.5* million FinTab tokens (FNT) will be issued:

  • 14 million FNT will be sold out in total during all the ICO stages for system development.
  • 1.5 million FNT reserved for the team and partners.
  • 1 million FNT reserved as a reward for helping the project (bounty).

The Financial model of return on investment

The team estimate the number of potential users by the third quarter of 2018. After the  ICO the tokens will be traded on exchanges, their rate regulated by the market and dependant on the number of users of the system. FinTab tokens will be implemented, entering the system as a service payment:

  • When paying for the service and the signal system 10% of the FNT tokens pass to FinTab team.
  • The remaining 90% of the tokens are burned.

Thus, the number of tokens will be constantly reduced, and the demand and the number of users will be increased.

Reasons why FinTab tokens will grow

The return on investment is based on a constant increase of FNT token rate:

  • The demand for the service grows due to the constant promotion and development of the functionality.
  • The burning of the token ensures the deficit and the increase of token cost.
  • Advertising functionality will increase demand and turnover of tokens.

The predicted starting point for the growth of the token rate will be the introduction of paid accounts in the system and the start of the tokens’ burning.

For more detailed information please visit our  website and review the WhitePaper.

Please contact the FinTab with any questions about the service or the ICO. You can also ask directly in our telegram chat or send your proposals and feedbacks to [email protected]

Crypto Currency Exchange And Debit Card: The Tokia ICO Review

By
Eimear Dodd
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Crypto Currency Exchange And Debit Card: The Tokia Ico Review
Crypto Currency Exchange And Debit Card: The Tokia Ico Review

Tokia, a crypto currency exchange platform, is conducting an initial coin offering (ICO) to fund its development.

According to the white paper, Tokia “aims to make Bitcoin payments direct and easy for everyone, everywhere.” The project is a crypto currency exchange platform which would allow users to convert their crypto assets into major fiat currencies.

This piece is an analysis of the facts available about the Tokia ICO sale. It should not be read as offering any advice or a recommendation. ICOs may have quickly become a popular tool for funding new projects but the ICO is high-risk for token purchasers. ICOs currently have an unclear legal and financial status.

Additionally, token buyers may find that their purchase does not offer them any security or equity in the start-up or project because the ICO is more like a crowdfunding initiative than a traditional IPO. As such, any investor who plans to buy tokens during any ICO needs to obtain all relevant independent advice and carry out their own appropriate due diligence.

Project overview

Tokia plans to offer users crypto currency services including:

  • an online crypto currency exchange platform,
    a mobile app based wallet and exchange platform,
    a debit card that allows users to make purchases using crypto currency and
    cold storage facilities

The platform plans to accommodate all major crypto currencies and allow users to convert assets held in their blockchain wallets into other crypto currencies or international fiat currencies using a fast, simple and secure process. Users could also earn interest on their crypto holdings by lending their assets to others as part of a peer to peer lending system.

Like other fintech start-ups, Tokia appears to want to use blockchain based technology to increase efficiency and reduce costs. The idea appears to be that these services would help users to integrate their crypto assets into their normal financial activities. The white paper outlines a longer term ambition to provide crypto currency services within developing economies.

Tokia was registered with Companies House in the United Kingdom in December 2017.

ICO facts

ICO coin came: Tokia Token (Tok)

Token standard: ERC 20 (Ethereum)

Soft Cap: 1,500,000

Total token supply: 50,000,000

Public ICO sale supply: 50,000,000

Initial token rate: 1Tok/ 1USD

The Tok token is a utility token and does not offer any equity in the business to purchasers. Instead, the token would have a number of functions within the platform.

The ICO pre-sale opened on 4 December 2017 and will continue until 30 December 2017. After this, the public ICO is due to start on 31 December 2017. According to the website, the ICO will be arranged as a series of funding rounds with separate hard caps for each stage. The final round is scheduled to finish on 15 March 2018 when unsold tokens will be burnt.

The team

The website lists four team leaders who have expertise in private banking, finance, business development and social media marketing. There are four advisors listed who bring additional experience in fintech, blockchain and crowdfunding.

Minimum viable product

The Tokia platform is in development with testing taking place during 2018. According to the roadmap, Tokia is currently in negotiations with payment service providers. The company plans to launch the exchange platform and mobile app for public use during the third quarter of 2018 with the debit card and cold storage available from 2019.

https://twitter.com/tokia_ico/status/937336895645855744

The white paper

This 37 page document outlines Tokia’s business proposition, the ICO sale and roadmap for development. The white paper does not go into much detail about the products and features that Tokia intends to offer. Security, transparency and ease of use appear to be key business values.

However, there are many risks with this venture. While crypto currencies have become more popular, their wider adoption is not guaranteed. If the venture is popular, will Tokia have the spare capacity to allow it to scale quickly? What would happen if existing financial institutions decide to offer customers crypto services? What mechanisms will be in place to monitor compliance with anti-money laundering regulations and other laws? What controls will be in place for the peer to peer lending component? The process of integrating crypto assets into everyday financial activities is also likely to be complicated and subject to regulatory oversight.

The Tokia business model is based on a fee revenue model. Tokia plans to charge exchange fees to users who do not hold Tok tokens or who exceed their monthly limit. There will also fees associated with the debit card, the peer to peer lending component and the cold storage facilities. The white paper does provide a lot of information about the planned fee structure except that it will be affected by ownership of the Tok token.

Tok holders would not pay exchange fees subject to monthly limits and other conditions. Token holders would have priority on waiting lists for the debit card once released. The number of Tok tokens owned could also affect exchange fees subject to terms and conditions. As such, it appears that Tok holders would be incentivised to keep their tokens. This would minimise any potential for the development of a secondary market for the Tok token. This could make it difficult for new users to buy Tok tokens and limit their exposure to fees.

https://twitter.com/tokia_ico/status/937744594929881088

Website and digital footprint

The website contains several infographics and a brief video which explain how Tokia’s products would work. In terms of social media, Tokia has a presence on Twitter, Facebook, Medium, Reddit and other platforms. These accounts do not have lots of activity however, this isn’t uncommon for ICOs.

Conclusion

If crypto currencies become more widely adopted, services that help users to manage their assets will become an important part of the ecosystem. If Tokia succeeds in developing its platform, then this may be one option to help people manage their crypto assets.
The Tokia white paper can be read here.

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