£0.00
The entire concept of cryptocurrency has been seen as preposterous by the established financial elite since its conception in 2009. The critics of Bitcoin and other cryptocurrencies have been very hasty to declare it a fad, citing the market volatility, the lack of scalability, and the perceived stability of the big banks. Despite all these criticisms, Bitcoin alone has been able to facilitate over 300 million financial transactions since its creation. In addition, over 1,500 different cryptocurrencies are in circulation today — and the list just keeps growing. Although only around 3.5% of all financial transactions worldwide are made with cryptocurrencies, this is set to change in the near future.
Potential approval of a Bitcoin ETF by the SEC
The SEC is still contemplating approving an ETF for Bitcoin, and the larger community of investors in the US will most likely not make a move into the cryptocurrency territory before that happens. An approval by the SEC would further help validate and legitimize cryptocurrencies in the business world. Once it happens, and most people are certain that it will, the financial world will undoubtedly be affected by the changed cryptocurrencies are going to bring with them. The time and cost saved on financial transactions will change the banking landscape for the better. The decentralized networks, smart contracts, and secured ledgers will further help transform the industry.
Regulations will benefit the cryptocurrency industry, not harm it
Although many governments around the world, including that of the US, have already begun to implement regulations, it is still early days. Many questions regarding the regulation of the cryptocurrency market are still left unanswered, and many investors are waiting until they are. How, for example, will cryptocurrency exchanges be required to incorporate security measures that protect them from hackers and scammers? Questions like these are what need to be addressed in order to open up the doors to the world of investment awaiting cryptocurrencies.
Cryptocurrency transactions will be scalable
Although the number of cryptocurrency transactions being carried out at present is impressive, it is still nowhere near the scale of credit card companies. Companies like Visa and Mastercard process tens of thousands of transactions every single second. Networks like Bitcoin cannot even come close to that number at present. However, this is about to change. There are new projects in the pipeline that will address this very issue. Plasma, which will be tied to the Ethereum network, and Lightning Network, which is the corresponding Bitcoin app, will be facilitation rapid transactions that could rival those of credit card companies.
Cryptocurrency will make a move into the developing world
As with many new emerging technologies, cryptocurrency transactions are catching on even quicker in developing countries than in the west. The reason for this is that many African and South American countries are experiencing an unprecedented hyperinflation that is essentially rendering their national currency worthless. In response to this, more and more citizens of these nations are looking to cryptocurrency for solutions.
How do you think cryptocurrency will change business? Leave your thoughts in the comments below!
iTrue ICO Review
Big Data, and how it’s handled, is one of the main subjects of debate in pretty much every industry. As the Internet becomes an ever-increasingly integral part of our everyday lives, the question of how data is handled and how our privacy is secured will become more important. With the recent introduction of GDPR in the European Union, data security is now a crucial aspect of running a business.
At the same time, blockchain technology is becoming more prevalent in the business sector, and more companies are looking into how they can create blockchain-based apps for themselves and their clients. iTrue is a company that is about to launch an ICO for their project, which will attempt to tackle the data question and at the same time provide a platform for businesses to develop their own blockchain-based apps.
What is iTrue?
iTrue is Blockchain-as-a-Service (BaaS), that will use a biometric authentication system for both developers and business users. It will allow businesses to develop their own blockchain networks, and it will incentivize their customers for sharing their data in exchange for monetary rewards. This will not only allow a quick and easy entry for businesses into the world of blockchain technology but also solve the problem of data privacy. Users will quite simply opt-in to share their data because they will receive money for it.
The CEO of iTrue Limited, Jack Cheng, has expressed that there is an increasing demand for the solutions that iTrue provide. More businesses than ever want to create online services and apps for their customers. Particularly the services that have to do with financial products are at risk of being compromised. What iTrue will do is help businesses identify the gaps in their knowledge of how to best utilize the data of their customers. The iTrue solution will use a combination of database technologies with blockchain and biometrics. This will ensure maximum security for the users of these online services.
What are the key features of iTrue
Anton Goroshankin is the CTO of iTrue, and he is very excited about the progress their development team has made with the platform. iTrue is the first platform to combine blockchain technology with database technology. Not only is iTrue very resilient to hacks and attacks of other kinds, but the infrastructure of the platform itself is also very scalable. Users of iTrue will have complete control over how their personal data is being used and by whom. Even if they should forget, the platform will send them alerts to remind them of how their data is being used and for what end. The team behind iTrue has also ensured that the platform complies will all privacy regulations put in place by the local and federal government. The businesses themselves can of course also create their own apps, and put in place their own security measures.
What about the iTrue tokens?
There are a lot of dots to be connected on the iTrue platform. Given that the ecosystem is populated by business users, developers, regular users, and business clients, a common currency needs to connect the dots. That currency is the iTrue token, which will be the cryptocurrency with which businesses can develop apps, users can benefit from them, and developers can get paid. By engaging with the platform and its many apps, everyone involved will be rewarded with iTrue tokens. Through the platform, it will also be possible for a business to exchange user data in order to cross-pollinate, so to speak. Again, the users will be in complete control of their own data, and it cannot be used without their explicit permission.
bitcointalk Username: Ico Friends
My ETH adress:
0xcD3347Bd7595750473b2dC8d2F32f28a32C868b7
The cryptocurrency market has had an immense growth worldwide despite the many hiccups like the Bitcoin crash of 2017. More tokens are being launched, more exchanges are being opened, and more ICOs are being started. Big tech companies like Amazon, Facebook, Google, and IBM are working on their own blockchain projects. Banks and Wall Street firms are beginning to trade in cryptocurrency. All in all, things are going pretty well.
Unfortunately, the banks and big tech firms are not the only actors who have noticed the rise of cryptocurrency and want to get in on the action. Hackers and scammers have also begun ramping up their attacks in tandem with the rising popularity of cryptocurrency. This has resulted in several cryptocurrency exchanges being hacked, and many traders losing their tokens. The value of several tokens has also taken a hit as a result of the bad publicity. But now the insurance industry is coming to the rescue.
Insurance for cryptocurrencies
Bloomberg has reported that several insurance companies are creating policies specifically for cryptocurrency traders and businesses. The only concern many have is the volatility of the cryptocurrency market. This volatility has led several insurance companies to charge up to five times as much for cryptocurrency insurance policies than other policies. However, this is bound to even out as more and more insurance companies enter the market. Competition between the companies will drive prices down to reasonable levels.
Who are the main insurance companies?
A spokesman for Allianz has expressed that the insurance giant sees cryptocurrency as a big opportunity. Allianz began offering solutions last year, and their services included covering the theft of cryptocurrency. Allianz sees that cryptocurrency is becoming increasingly relevant, and an integral part of the global economy. For this reason, they are only looking to expand their portfolio of insurance products.
American International Group is another insurance provider that has begun to include cryptocurrency assets in their standard policy forms. The oldest insurance market, Lloyd’s of London, has also published a statement that advises their agents on how to deal with cryptocurrency insurance. Lloyd’s have, however, advised their agents to proceed with caution, given the risks associated with the market.
Aon and Marsh & McLennan are two prominent insurance brokers that help individuals and businesses shop around for the best deals on insurance products. They both report seeing a large growth on the horizon. Marsh & McLennan has even created a dedicated team to deal with cryptocurrency startups that have launched their own ICOs. Meanwhile, Aon report that they have half of the cryptocurrency market covered.
No payouts just yet
Because the concept of cryptocurrency insurance is still brand new, there has not been any instances of payouts yet. However, this is set to change this year, as hacks are predicted to be ramping up. Not all insurance policies are equal either. Some include loss of tokens due to technical errors in a blockchain service but exclude the theft of cryptocurrencies. Cryptocurrency exchanges like Coinbase, however, have secured great insurance policies in order to protect the traders.
Are you thinking of taking out a cryptocurrency insurance? Let us know in the comments!
If you’re into trading with cryptocurrencies, then you probably have a hardware wallet to store them in. For the uninitiated, however, the market for hardware wallets can be difficult to navigate. In this article we’ll take a look at four of the most popular hardware wallets on the market right now, and look at the features of each one.
Coolwallet S
The Coolwallet S is a fascinating invention. As opposed to most other hardware wallets, it has been designed to be thin and small enough to fit in your actual wallet next to your credit cards. It also comes with an e-paper display (like the first Kindle e-readers) that allows you to view your balance and make transfers when you are out and about. The wallet supports the most popular cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple. The best part about the Coolwallet S is that you don’t even need a computer to use it. Simply download the Coolbitx app for your phone, and you can connect to the wallet via Bluetooth.
Ledger Nano S
If you are looking for a hardware wallet that can hold the largest number of different cryptocurrency tokens, then you should check out the Ledger Nano S. Ledger, the French company behind the wallet, are constantly adding support for new cryptocurrencies. They add new tokens so often that they have even made a hashtag to go with the regular expansions. #FirstTuesdayCrypto is used on the first Tuesday of every month when Ledger adds support for new tokens. The first expansion under this hashtag included rather obscure tokens like RSK, Kowala, Ontology, Vechain, Icon, PoA, Wanchain, and Particl. Naturally, all the most popular tokens like Bitcoin and Ethereum are covered. What’s more, all ERC20 tokens are covered as well. This means that the Ledger Nano S can hold most tokens created by ICOs. There has been some criticism of the software, but it has not stopped the wallet from gaining in popularity.
Keepkey
A lot of people want to get into cryptocurrency, but feel like they are lacking the technical knowledge to understand it properly. Keepkey is a hardware wallet that is designed with those people in mind. It works straight out of the box, and is durable enough to withstand being dropped and thrown around. It is not as practical as the Coolwallet S and can’t hold as many different kind of tokens as the Ledger Nano S, but it’s simplicity is a strong selling point. More importantly, however, there is no issues with connectivity like there is with the Ledger Nano S. Keepkey supports the most popular cryptocurrencies like Bitcon, Ethereum, Litecoin, Dogecoin, and Dashcoin. Like the Ledger Nano S, Keepkey also supports ERC20 tokens, so you can use it to hold most ICO generated tokens. The parent company of the Keepkey manufacturer is Shapeshift, so the wallet is also integrated with their software.
Trezor Model T
The Model T from Trezor is perhaps the best cryptocurrency wallet if you are concerned about safety. The Trezor Model T has a wide range of security features that will put your mind at ease. Some of the featured includes a bootloader that is write protected, and that verifies all firmware signatures. It also supports BIP39 passphrases.