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Vanig ICO Review
Shopping has undergone an immense transformation over the past couple of decades. Physical retail stores are in a constant race to compete with online stores, which have lower overheads and more flexibility. The shopping wars will probably go on for some time to come, but in the meantime, developers are working on improving e-commerce even more. Vanig is one of the many exciting projects that deal with supply chain management in the world of e-commerce. Whilst current shopping platforms offer users great flexibility and control like real-time tracking, this ICO promises to take e-commerce to the next level. Not only will the shopping experience become cheaper and simpler, but the supply chain will be shortened. Let us have a look at what exactly Vanig is, how it works, and how you can benefit from investing in their project.
What is Vanig?
The team behind Vanig are building an ecosystem underpinned by blockchain technology, in which businesses and customers can interact and do business with each other seamlessly. They brand their project as the “world’s first integrated e-commerce platform with supply chain”.
One of the main advantages of the Vanig platform is that is reduces the number of intermediaries required to get a product from the production site to the consumer’s home. Rather, customers can communicate directly with the supplier if they so wish. This is reminiscent of the Chinese Alibaba website, where customers contact the factory owners directly and negotiate their purchase with them instead of a middleman. Not only will a project like Vanig reduce the costs of business transactions, but it will also shorten the supply chain, and help build trust between consumers and suppliers.
How does Vanig work?
As mentioned, Vanig is build using blockchain technology, which means that everything is completely decentralized and all transactions are recorded on the ledger. The ledgers used by Vanig is developed by Hyperledger, which is one of the giants in the blockchain space. The platform will also make use of smart contracts, which will offer both businesses and their customers flexibility, control, and transparency. Essentially, the platform offers all the same capabilities like popular e-commerce stores like Amazon, eBay, and Alibaba, but with the added benefit of having everything in one place.
What are the key features of Vanig?
The main features of the Vanig platform include a self-contained ecosystem that allows everyone in the supply chain, from manufacturer to consumer, to easily communicate via a peer-to-peer system. All the data generated on the platform is distributed symmetrically, which will allow all users to recall it much faster. The simplicity of the smart contracts used on Vanig will ensure that all transactions are secure and easily executed. The platform also facilitates real-time tracking of products, and gives users access to the sensor feeds and data oracles that track the product. An advantage of the real-time tracking and ledger records is that returning defective products will be simpler. As with Amazon, Vanig will also allow for one-click orders for customers, and bulk upload of CVS files for businesses listing their products.
bitcointalk Username: Ico Friends
Apple recently tightened its guidelines for apps on the App Store. After experiencing quite a few apps that utilized the users’ devices to mine for cryptocurrency, Apple updated its official guidelines to include a section on cryptocurrency mining. Opinions are divided on whether or not this is a reasonable move. Some say that the revised guidelines are too harsh on app developers who make it clear that their revenue will come from cryptocurrency mining. Others say it is a wise move that will help combat phishing and malware, which are huge risks in the digital world.
New guidelines mention mining
Apple’s new guidelines are very thorough, and include references to ICOs, cryptocurrency mining, digital wallets, cryptocurrency exchange services, and any rewards based on digital currencies. Two of the clauses dealing specifically with these issues look like this:
2.4.2 Design your app to use power efficiently. Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources. Apps, including any third party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining.
3.1.5 (b) (ii) Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).
Why should mining apps be banned?
One of the main arguments for this kind of striction is that cryptocurrency mining is not profitable when you are using your smartphone. There is a good reason why professional cryptocurrency miners invest a lot of money in building mining rigs, which are essentially really powerful computers. It takes a lot of processing power to mine, and even the newest iPhone will not be able to mine enough for users to make a profit.
Using a smartphone or tablet for mining will, on the other hand, quickly wear down the device by making it work harder than it is designed to do. This will significantly shorten its lifespan, which means that users will need to replace it more often. The only way to make a profit from using devices to mine is to use other people’s devices. This way, you do not have to worry about buying a new smartphone to sustain your mining activities.
Scammers are everywhere
Scammers have caught on to this, and that is why mining malware is such a big problem in the cryptocurrency space. The mining malware is not restricted to smart devices like phones and tablets, however. Scammers have managed to infect several websites of prominent institutions, such as governments and tech companies. Everyone visiting these sites will then unwittingly be mining cryptocurrency for the scammers, using whatever device they visit the website with. Coinhive is a great example of this kind of scam.
While Apple has undoubtedly received some criticism for its restrictive guidelines, it is ultimately good news for the average user. Only by preventing scammers from putting their apps on the App Store can Apple help its users avoid being taken advantage of. Whether official government regulations will be rolled out to prevent malware like Coinhive from infecting websites in the future remains to be seen.
According to an article published on CCN, Fidelity Investment Firms has temporarily halted its intentions to launch cryptocurrency fund after key members and investors decided to leave the company. The Fund was launched in 2017 and its main objective is to come up with a cryptocurrency that will benefit the investors and the firm at large.
It is reported that the firm used the extra funds it had in account to invest in high-risk high return assets and this did not go down well with some of the members. Notably, the decision to invest in the assets was done after an extensive analysis of the financial stability of the firm.
However, a report that was made public in June 9th, 108 has revealed that the small fund set aside for cryptocurrency investment is not operational at the moment after some of the main staff members who were tasked with steering the department left the firm. As a result, plans for Fidelity to launch its own exchange platforms hangs on the balance as there is no clear information on whether the firm still plans to establish the exchange.
Fidelity Lost Cryptocurrency Experts
Interestingly, two former staff members who were part of the management team Nic Carter who worked as a financial analyst and Matt Walsh the ex-Vice President went ahead to establish an independent cryptocurrency fund after leaving Fidelity Investment Firm. The fund is called Castle Island Ventures but it is still not clear if it is operational.
Nonetheless, it is too early to conclude that the firm will not set up the exchange platform owing to the fact that it is ranked among the largest financial service provider of retirement products here in the United States. Launching the exchange platform and making sure it is fully functional would significantly promote its growth and expand its clientele base. Hordes of investors who are currently on the sidelines would take that opportunity to invest in the project thereby increasing its chances of being successful.
Other crypto-talents who left the firm include digital marketing manager Ben Pousty who joined Circle and Kinjal Shah who used to work as a consulting analyst. Shah ditched Fidelity to join Blockchain Capital. At the moment, the firm is desperately looking for a competent fund manager who will oversee the operations at the cryptocurrency department.
Other Financial Service Providers Venturing into Cryptocurrency
Fidelity Investment Firm is not the only company in this niche that is seriously considering venturing into the cryptocurrency industry. Other financial service providers who have shown interest in the industry include New York Stock Exchange and Intercontinental Exchange.
Goldman Sachs have also confirmed that they have completed setting up a bitcoin trading desk for its clients and will be fully operation later this year. Notably, a significant number of financial institutions are still reluctant to invest in digital currencies due to the various risks such as price volatility and lack of proper regulations in most parts of the country.
Despite the rapid growth of the cryptocurrency space, fiat money is still king in the real world. Even the most enthusiastic crypto-’hodler’ will, when they emerge from their dark caves to get some daylight, eventually have to use government-issued fiat money to pay for everyday goods and services. But much has changed in the world of fiat money. Although they are issued by central banks and declared legal tender by the government, they are not what they used to be. No longer backed by gold, they have little intrinsic value. And with contactless credit and debit cards being the norm, we are increasingly moving towards a cashless society. The next logical step would be to transform the economy from one of fiat currency to one of cryptocurrency. But what would that look like?
More people start using it
Without the people interested in using cryptocurrency, the project will never become a reality. Whilst the interest in cryptocurrency is big enough to hold a Bitcoin rally, it is nowhere near popular enough to be considered a household name. In order for cryptocurrency to become the standard, pretty much everyone would have to know about it and have some experience using it.
Businesses adapt to it
In order for people to use cryptocurrency, more shops and other businesses would need to start accepting it. Although a few businesses and charities have begun accepting cryptocurrency, there is a long way to go before we can use them to buy groceries at the local corner shop. Online stores will probably be the first businesses where it will be a mainstream to pay with Bitcoin. Physical stores will have to catch up so they do not lose out on business.
Governments will (begrudgingly) adapt
The governments will be one of the last local institutions to accept the transformation from fiat to crypto. The main reason for this is that it is in the government’s’ interest to maintain the status quo. Fiat money gives them a lot of control over a country’s economy, and they will be unlikely to relinquish that control easily. China is a great example of how governments are fighting off the crypto-revolution.
National and international spread
Once consumers are using it, businesses are accepting it, and governments are taking steps to implement it, cryptocurrency will be a nationwide legal tender. Once enough countries have reached this stage, an international economy based on cryptocurrency can begin to develop. This is probably not going to happen in the near future, due to the large inequality between the countries around the world.
What can be done to speed up the process?
It will take a lot of patience on the part of crypto-fans, as these things move a lot slower than one could want. The only way to speed up the process of transforming the economy from being based on fiat money to one based on cryptocurrency is (you guessed it) to use cryptocurrency. As much as possible, in as many places as possible. The more people use it, the more businesses will accept it, and the faster governments will have to act on it.