Bancor Smart Tokens Provide Solution to The Issue of Liquidity 243

There are many facets to the notion of liquidity. Liquidity may be defined as the ability to convert an asset into cash readily on demand. If this definition seems myopic, you can see it as an asset that can be sold or bought at its fair price. Therefore, liquidity signifies that there are no premiums or discounts attached to an asset when selling or buying it. This makes it easy to enter and exit the asset at will.

For any tradable asset, liquidity is paramount. Liquid markets are smoother and deeper when compared to illiquid markets, which can put traders in a place from which it may be difficult to navigate out. For instance, Bitcoin has experienced significant growth within nine years of its existence. In 2009, there were only 50 Bitcoins but today, there are over 13,000,000 bitcoins in circulation. Virtual currencies or cryptocurrencies have witnessed waves of illiquidity. What are the factors that influence liquidity?

  • Exchanges: The increasing number of cryptocurrency exchanges has provided opportunities for more individuals to trade in cryptocurrency. The increase in volume and frequency of trading has contributed to enhancing liquidity.
  • Acceptance: The acceptance of cryptocurrencies at online shops, brick and mortar stores, bookings, etc. has contributed to its usability while reducing its volatility. Coins become more liquid when frequently used as a means of payment.
  • Regulations: Both direct and indirect regulations have played a crucial role. The position of cryptocurrency in each country is different – banned in certain areas, allowed in others, while in dispute elsewhere. Because of the increasing presence of cryptocurrency in the form of exchanges, ATMs, casinos, transactions in shops, financings, etc. these clarified regulations will continue to influence liquidity.
  • Awareness: Many people are practically unaware of what cryptocurrency is all about and how it works. In the midst of these are prospective investors, buyers, and traders of digital coins. Lack of clear guidelines by relevant authorities and limited knowledge has limited engagement to devotees to this moment, but as this changes, so will liquidity via increased volume and acceptance.

Then, How can one technically solve the issue of liquidity facing cryptocurrency? Below we will explore a solution provided by Bancor for addressing the challenges of liquidity faced by cryptocurrencies, conventional tokens, and community currencies. According to Bancor, the issue of liquidity can be addressed through the use of Smart Tokens, by programming tokens to be autonomously convertible for other tokens within the same network. This is achieved through the use of Connectors, which are modules in a token’s smart contract that hold balances of other tokens they are connected to.

What is the Bancor Protocol Smart Token all about?

Let’s begin with the Bancor Protocol which is the standard for what Bancor calls Smart Tokens. The method is as follows: A Smart Token is programmed with one or more connectors, which are modules in their smart contracts. Each connector holds a balance of another connected, the connected token, which can be deposited by the Smart Token creator. These balances are used by the Bancor Formula to calculate the exact price of a Smart Token in any of its connected tokens. The Smart Token can be bought and sold by depositing or withdrawing the calculated amount from its connector balances. For example, if a Smart Token has one connector which holds a balance of Ethereum, that Smart Token can be bought by sending Ethereum to the Smart Token’s contract, or sold by sending Smart Tokens back to the contract and receiving the corresponding amount of Ethereum in return.

If you haven’t heard of smart contracts, these are computer programs which run on the blockchain, meaning they are unchangeable as long as the underlying blockchain is operational. In the case of tokens, smart contracts allow for the programming of certain features, issuing policies and other attributes, directly into the token’s governing software. Bancor uses this ability to program Smart Tokens to buy and sell themselves from users, in exchange for any of their connected tokens, at an algorithmically calculated rate according to the open-source Bancor Formula. This allows Smart Tokens to be plugged into a network architecture, and continuously liquid to every other token in the network, according to a mathematical price which balances buy and sell volumes in the network (more on the formula below.)

The Bancor Protocol recommends a new solution to the issue of liquidity for cryptocurrencies by using an asynchronous price-discovery model, which is enabled by these balances holding Smart Tokens. The most unique characteristic of this solution is the fact that you can buy or sell Smart Tokens anytime, directly through their smart contracts (Bancor also offers a simple Web App user interface) without the need for an exchange or even matching buyers and sellers, as has been the case for decades. Does this sound like crypto magic to you? Let’s explain how it works.

  • Firstly it’s important to understand that Smart Tokens are money that themselves hold money, in their connector balances. What this means is that the smart contract that operates the Smart Token owns a minimum of one other token balance. This is the Smart Token’s initial liquidity “plug in” to the network, and from where the Smart Token can withdraw other tokens to sellers, and collect other tokens from buyers.
  • Secondly, the supply of a Smart Token can be dynamic, and handled by its smart contract directly. When a Smart Token is purchased by sending one of its connected tokens to the smart contract, these tokens are added to the connector balance and new Smart Token units are created and sent to the buyer. This means that a Smart Token’s supply is growing as demand for it is growing. Thankfully, so is its connector balance, so as you’ll see below, its price is also increasing. This means that increased supply does not mean inflation or dilution for Smart Token holders, since price is a factor of demand, not constrained by a traditional fixed supply. Similarly, when a Smart Token is sold, it is simply sent back to its smart contract, which withdraws the corresponding amount of connected tokens from the connector balance and returns them to the seller, and the sold Smart Token units are destroyed and removed from circulation. Price however, is still decreasing, thanks to the Bancor Formula which takes this decreased connector balance into account. You can liken this mechanism to when tokens are issued by initial coin offering smart contracts in exchange for other tokens like Ether.
  • Thirdly, is the realization that Smart Tokens calculate their own prices vis-a-vis other tokens they are connected to. This is according to the Bancor Formula which holds the ratio constant between a Smart Token’s total market cap, and its connector balance. As buys and sells add and subtract tokens from the connector balances, the price of a Smart Token will fluctuate to keep this ratio, configured by a Smart Token’s creator (and called the weight), constant. This ensures that buy and sell volumes strive for equilibrium, as a Smart Token’s price is rising when it is being bought, and falling when it is beind sold. Just as you’d expect with supply and demand principles, only here the supply can adapt to the demand, and price is calculated as a mathematical function between the Smart Token and its real-time connector balances. .

One may be thinking if all of this functionality is required, given the fact that price discovery and liquidity is already obtained via trading activity in traditional exchanges. Is there a reason for a different solution? The answer to this question is yes. This is because exchanges can be seen as “matchmakers” between individuals or parties with different wants. A particular trade comprises of two opposing transactions, one where each party is selling what the other party wants to buy. The situation where a particular party needs to find another party with opposite wants is the sole reason why currencies and other assets face liquidity risk. With this constraint, it is impossible for smaller scale currencies, such as loyalty points, community currencies, and other relevant credits, as examples, to become consistently liquid.

Additionally, people who provide liquidity such as market makers and traders are logically looking for ways to take full advantage of profits. This connotes that liquidity comes at a price or cost with the current exchange solution, allocating value to middlemen. This is why BancorSmart Tokens are unique, allowing currencies to enjoy automated and continuous liquidity, and with no added fees. The contribution or partaking of market makers and traders in their convertability isn’t compulsory, but optional for both parties. In fact, Smart Tokens may be regarded as a token with a built-in not-for-profit automated market maker for itself, being operated by its open-source smart contract.

A Bit About the Bancor Token Generation

This decentralized liquidity network Blockchain project raised approximately $153 million in Ether within three hours. Bancor was one of the most successful token launches of 2017. The token generation event took place on June 12, 2017, attracting more than 390,000 contributions in Ether, a world record in the market at the time.

Bancor’s BNT is the Bancor Network Token. According to the company, in the next two years, there will be a host of new features available to Smart Tokens, including security upgrades such as delegated account recovery, the ability to purchase them with a credit card, enabling communities without a token to easily create one without technical knowledge, and moving to a fully decentralized backend and front-end architecture, as well as taking the liquidity network completely cross-blockchain. Finally, we will see the launch of Bancor Grants, helping local communities build capacity towards launching and maintaining a local Smart Token for their economy or network, and subsidizing the BNT needed for qualifying communities to connect to the Bancor Network (via their Smart Token’s connector balance, which will be held in BNT.) Since launch, Bancor has activated their token, launched and activated Relay Tokens for over 20 ERC20 tokens which are now convertible via the Bancor Network, launched their Web App on desktop and mobile, and deployed a portable widget to enable users to convert Smart Token’s from anywhere on the Internet. This attribute alone safeguards users and enables them to convert their tokens remotely and in a decentralized fashion.

BNT holds Ether (ETH) as its connected token, making it possible to convert any token within the Bancor Network into ETH, instantaneously and without the need for matching buyers and sellers. This is groundbreaking in the blockchain world, with Bancor pioneering an autonomous technology that a technical solution for instant liquidity and eventually also the instant creation of intrinsically liquid cryptocurrencies.

What are the Benefits of Bancor Smart Tokens?

Smart Tokens bring about several benefits when compared to the traditional token model, which include:

  • No Extra Fees: Unlike the traditional token and exchange models, the only compulsory fee that is paid for converting Smart Tokens is the blockchain platform fee, which in the case of Ethereum is known as gas.
  • Continuous Liquidity: Because selling and buying are carried out through smart contracts, you can always convert Smart Tokens from/to their connected tokens, regardless of the volume of trading done.
  • Foreseeable Price Changes: The Bancor Smart Token allows for the pre-calculation of price changes according to transaction size, since each transaction itself will result in a change to the current price by adding to or subtracting from connector balances. This price predictability leads to relatively more stable prices.
  • No Spread: The same price is calculated for buying and selling Smart Tokens since the calculation of these prices is done formulaically by the non-profit smart contract, not by other buyer and seller offers, traditionally known as an order book.

In Conclusion

Bancor has discovered a way out of the historic challenge of liquidity without needing a counterparty to buy or sell a token. This is attainable through a smart contract, currently on the Ethereum network, which keeps a balance in another connected token at all times, and uses a simple formula to continuously recalculate the exact rate at which a Smart Token is convertible for any of its connected tokens, and as such, for any other token in the network. This innovation replaces traditional labor-based solutions, in the form of market makers and exchanges, both for-profit actors, with a technical solution, in the form of a non-profit smart contract that will always buy and sell Smart Tokens thanks to their built-in liquidity mechanism. This autonomous solution could offer a step-function improvement in efficiency, decentralization, accessibility, transparency, and stability for the emerging cryptocurrency economy – if Bancor can pull it off

 

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HIBCC and Chronicled Announce HIN Data Integration Within the MediLedger Network Blockchain 6151

he Health Industry Business Communications Council (HIBCC), in partnership with Chronicled, is pleased to announce that its Health Industry Number (HIN) System is now available to registered HIN licensees via Chronicled’s blockchain-enabled MediLedger Network. By using Mediledger, HIN pharma industry licensees will both be able to access and use real-time HIN data and incorporate it directly into live business processes.

Manufacturers, Distributors, and GPOs on the MediLedger Network use its Contracts & Chargebacks Solution to ensure pricing contracts are aligned. The solution guarantees that distributors always have valid pricing for customers (Hospitals, pharmacies, clinics, etc.) and that chargebacks are accurate.

HIBCC’s HIN data is a crucial part of identifying which customers are eligible for which contracts. Through the solution, when HIN records are updated, all participants see the same changes in real-time. Thus, there is no confusion related to customer HIN identity when processing a chargeback.  Manufacturers can also now automatically incorporate HIN data updates into business processes such as Class of Trade determination and contract eligibility. Automated integration of HIN data is a significant step towards enabling manufacturer’s to proactively determine contract eligibility for all customers, so distributors don’t have to guess what pricing to offer new customers, which is historically a common source of chargeback errors and disputes.

HIBCC’s HINAPI Service integration with the MediLedger Network, developed and maintained through collaboration with Chronicled, will link the HIN System Database directly with network participants. Consistent and real-time HIN data is distributed through blockchain and is available to every licensed participant in the MediLedger Network.  HIBCC CEO Robert Hankin, Ph.D. stated “Deployment of our HIN database within Mediledger’s blockchain technology represents a significant development that promises to further streamline the use of HIN data by many of our licensees, and our collaboration with Chronicled is a milestone for the industry standards process.”

With the HIN data now integrated into the MediLedger Network, all of the benefits of HIN data in the Contracts & Chargebacks Solution can be replicated across other solutions developed for many other processes between trading partners. Susanne Somerville, CEO of Chronicled, said “Incorporating HIN data into the MediLedger Network is an incredible example of the value MediLedger can offer as a platform. Future solutions can now be developed with HIN data already established as a key building block. We are very excited about the partnership with HIBCC and all the ways we can work together to bring efficiency and accuracy to the pharmaceutical supply chain.”

HIBCC
HIBCC is an industry-supported and internationally accredited nonprofit standards development organization. HIBCC develops electronic communication standards that meet the unique requirements of the healthcare industry, including the widely-used Health Industry Number (HIN) System, and the US FDA and EU accredited Supplier Labeling Standard.

Chronicled 
Based in San Francisco, Chronicled is a technology company developing solutions that bring trust, efficiency, and automation to the Pharmaceutical and Life Sciences industry. Chronicled is the custodian of MediLedger, an open and decentralized blockchain-based network that connects trading partners and enforces cross-organization business rules without revealing private or competitively sensitive data. MediLedger currently facilitates solutions in the Supply Chain and Revenue Management functions within the Pharmaceutical industry.

World’s Leading Digital Currency Machine Company Deploys 1,000th Kiosk 5836

Coin Cloud, the world’s largest Digital Currency Machine (DCM) company, is proud to announce its record-breaking 1,000th kiosk installation at Vallarta Supermarkets on 47th St. in East Palmdale, CA. This milestone for Coin Cloud coincides with widespread digital currency adoption.

“Our 1,000th installation is the result of exponential growth. We deployed over 120 kiosks this week, and doubled our installed base every six months for the last two years,” says Chris McAlary, CEO of Coin Cloud. “It’s exciting to see consumer and retailer demand for DCMs grow so quickly. People want more control over their finances, and we’re living proof of digital currency’s mainstream acceptance.”

Coin Cloud Market Leadership

Coin Cloud is unrivaled as the only national operator of 100% two-way DCMs. These machines empower users to buy and sell bitcoin and numerous other digital currencies with cash at any Coin Cloud location. Currently, 61% of two-way DCMs in the USA are owned and operated by Coin Cloud.

“Our machines meet a critical consumer need because they grant anyone an instant, trusted gateway to the digital economy,” McAlary points out. “We make the intangible tangible, converting digital currency to physical currency and vice versa on demand. Previously, digital currency users would have to meet in person to trade bitcoin for cash. Coin Cloud’s integration of DCMs with digital wallets are becoming the cash machines of the 21st century. They are being embraced and taking over at an ever-increasing rate.”

Coin Cloud offers a free mobile wallet app to complete a seamless customer experience. Live, US-based customer support is readily available by phone, email or text, seven days a week.

Coin Cloud’s retail partners are going all-in on this trend. Proven to be a profit powerhouse, these machines deliver some of the highest revenue per square foot in retail, surpassing the performance of self-service kiosk superstars like Redbox and Coinstar. They propel additional traffic into stores while boasting a tiny footprint. The company’s leading-edge two-way kiosk promotes customer confidence, loyalty and repeat store visits.

Digital Currency’s Mainstream Adoption

Almost 90% of Americans have heard about Bitcoin, and 15% now own digital currency themselves. Remittance, savings, investment, in-game currency, and online or international purchases are among the most popular use cases for digital currency. Many unbanked and underbanked individuals are also adopting digital currency as a way to store and send money. Shopping trends are skewing digital, and a recent Blackhawk Network survey found that 88% of respondents use a digital wallet of some kind.

“As more people embrace digital currency, we want to make it as easy and accessible as possible,” emphasizes McAlary. “The self-service kiosk has proven to be the perfect portal between cash and the modern mobile wallet economy.”

Coin Cloud Growth & Projections

Coin Cloud is the largest and fastest-growing cash retailer of digital currency, being the first DCM company to deploy 1,000 installations in September 2020. As the first national brand for DCMs, Coin Cloud has introduced digital currency to consumers in mainstream retail by providing more than 5 million transactions to customers across 40 states and Brazil.

Coin Cloud is bringing digital currency machines to every street corner. The brand continues to install DCMs in easily-accessible locations worldwide, including scaled implementations with iconic retailers.

An Overview of the StormGain Cryptocurrency Platform 6307

StormGain

The major players have already successfully cemented their positions in the cryptocurrency market. As a consequence, new platforms appear much less frequently than they did five years ago. And this is precisely why much more attention is now paid to new entrants to the market. One of the newest and most up-and-coming players in the cryptocurrency market is StormGain. Today, we are going to take a closer look at this platform’s features.

An introduction to the StormGain cryptocurrency platform

StormGain started operations in 2019. The target market for this cryptocurrency platform consists of both beginners and experienced cryptotraders – cryptocurrency enthusiasts who need to be able to quickly and efficiently convert their digital money. Among these, there are also cryptocurrency investors looking to earn a stable income.

StormGain users are able to choose from a large selection of trading instruments. These include both in-demand crypto instruments, such as Bitcoin, Ethereum and the like, as well as less popular options like Tron, Bitcoin Gold, etc.

Even though the platform is relatively new to the market, it has already made a good reputation for itself. The traders who use it often compare it to services like Kraken and Huobi Binance. In addition, StormGain is also the official sponsor of one of the English Premier League’s leading clubs – Newcastle United, which is a significant factor for earning the trust of users and potential clients.

Registration

The registration process has been made as simple as possible when compared to many other platforms. To register, all you need is an email address and phone number. The user then enters any other necessary details via their personal account.

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The registration process is similar to those of other cryptocurrency providers:

  1. First you go to the “Registration” tab.
  2. Then, you enter your personal information (email address, phone number and password) and agree to the Terms of Use.
  3. Finally, you must confirm the email address you provided at registration (required for the deposit/withdrawal of funds).

Once you’ve done that, you will then be able to use all the features of the cryptocurrency platform.

Deposit and withdrawal of funds

As already mentioned, the platform only supports cryptocurrencies, which facilitates easy wallet deposits and withdrawals.

If you have used other wallets to store cryptocurrency in the past and still have coins left in them, all you need to do is perform a simple inter-wallet transfer to fund your StormGain account with any of the cryptocurrencies supported by the platform. It’s worth noting that the main cryptocurrency used on this platform is Tether. This means that all payments will be carried out using this currency.

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StormGain charges no commission on deposits made in cryptocurrency. That said, there are minimum deposit amounts in place (for example, for Tether this is 50 USDT and for Bitcoin it is 0.005 BTC).

The second option for depositing funds to your wallet involves the use of third-party services enabling the exchange of fiat money for cryptocurrencies. To use this method, you’ll need a StormGain wallet address.

The developers of the StormGain platform took great care to make it as easy as possible to add funds to your account and have even provided the option of depositing funds directly to your wallet via your debit/credit card. To do this, all you need to do is select the desired cryptocurrency and the corresponding payment method from the list. However, you should be aware of the following restrictions:

  • the maximum deposit amount is USD $20,000;
  • a commission of 5% of the deposit amount (but not less than USD $10) will be charged.

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Although StormGain charges a debit/credit card deposit fee, this method eliminates the need to use third-party services. All transactions take place within the StormGain trading platform and are conducted automatically over encrypted connections. As a result, transaction speeds are much faster and your funds are much better protected.

Withdrawals are also processed very quickly. If you are going to withdraw funds to a cryptocurrency wallet, then all you have to do is select the cryptocurrency you need and enter the wallet address. Commission on crypto transactions is fixed at 0.1%, regardless of the currency you are withdrawing.

Trading

StormGain offers much higher leverage than most other platforms. This is one of the key advantages StormGain has over other trading platforms and we will talk more about it in this section.

StormGain offers trading in all the most popular cryptocurrencies, including Bitcoin, Tether, IOTA, Bitcoin Cash, Monero and many more besides. In total, around 30 cryptocurrencies are available to trade on the platform, which is enough to satisfy the needs of the majority of cryptocurrency users.

Cryptomarket analysis tools

The platform provides more than 40 indicators to assist with technical analysis. These include ready-made graphic patterns and profit/risk calculators.

Particular attention should be paid to the traders’ sentiment indicator, as it has a great influence on any strategy modifications. This gives StormGain a huge advantage over other cryptocurrency platforms since the provision of such an indicator is rare. It helps users identify the prevailing trend and make decisions about future trading operations.

Order types

StormGain offers four main types of orders. The first is the Market Order, which is the default option and corresponds to real-time trades. The second type is known as a Limit Order. It involves buying or selling assets when their price reaches a certain level. In addition to these, StormGain also supports Stop Loss and Take Profit orders, which are used respectively to limit losses or lock in profits before its too late.

Multiplier

The multiplier is one of the StormGain trading platform’s core selling points. It is no secret that many platforms allow cryptotraders to risk more funds than they have available on their account.  For the purposes of comparison, the world-famous cryptocurrency platform Binance allows users to trade with leverage of 1:5. The same amount of leverage is also available on Huobi. Meanwhile, a platform as popular as Cex.io only allows leveraged trading up to 1:3. StormGain, on the other hand, offers multipliers up to 1:200. This is much higher than the amount offered by other platforms.

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This multiplier allows you to benefit more from less intense price movement, even if your starting capital is very small. Nonetheless, it is worth remembering that using a multiplier also increases your risk when trading.

Platform features

StormGain provides a lot of bonuses and special features for its users. It was precisely these bonuses and features that enabled the platform to quickly gain in popularity and build trust among cryptocurrency traders.

Extended loyalty programme

The StormGain platform provides its users with some of the best trading terms around. The company offers several different loyalty levels, each with its own unique set of bonuses.

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As you can see, your individual account type can greatly improve the terms you receive as a trader on the platform. The higher your account status, the more bonuses you will be eligible for. These might include, for example, an increased bonus for account deposits or a discount on trading commission.

How to qualify for a given status

Each user is automatically assigned a certain status depending on their account balance or monthly trading volume. In other words, the more active you are, the higher your status. Likewise, if your activity drops over the course of a given month, your status will also drop.

Mobile trading

StormGain has its very own trading platform, which is also available for Android and iOS. This means that you can always keep abreast of any developments on the cryptocurrency market and carry out transactions from almost any device, anywhere. As the cryptocurrency market is open for trading 24/7 (including weekends and public holidays), this allows users to quickly respond to market events as and when they take place.

Training

The platform provides plenty of great opportunities to help you prepare for your first real trade. If you take look in your account, you will find video tutorials that deal with everything from the ins and outs of trading with StormGain to basic trading skills. These lessons will be very useful both for newbies at the beginning of their cryptotrading journeys and experienced traders looking to refresh their knowledge.

What’s more, the StormGain trading platform also allows users to practice making trades on a free demo account. The demo account gives everyone the opportunity to try their hand at trading without the need to risk their own funds.

It’s important to note that the demo account is available for use at any time. Therefore, even if you are already well-versed in trading, you can always switch from your real account to a demo account in order to test out new strategies.

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Security

Security has always been a very important element of any online service. But when it’s also client funds and not just user data that is at stake, then any platform for trading cryptocurrency must provide the highest level of protection. What kind of protection is offered by StormGain?

First off, it provides the ability to create a “cold wallet”. This is one of the unique features of the StormGain trading platform. On most platforms which deal with a large number of different cryptocurrencies, there are no “cold wallets”. This type of wallet exists offline and is immune from any malicious intruders.

The second key feature is the ability to activate two-factor authentication using Google Authenticator. The StormGain team strongly recommends connecting 2FA so that your account is protected even in case of the loss of login data.

The StormGain platform is trusted by users worldwide. The partnership with Newcastle United football club plays an important role in this. In addition, the platform is a member of the Blockchain Association which itself operates under under the auspices of the Financial Commission.

Support

The level of customer support can make a platform the best in the world or make its users hate it. For cryptocurrency platforms, the customer service element is no less important than that of making the service secure.

StormGain offers customer support via:

  • online chat;
  • Telegram;
  • e-mail;
  • telephone.

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In other words, all the ways of communication with the project team have been thought out. Depending on your problem and preferences, you can choose any method and quickly find a solution.

Conclusion

The StormGain cryptocurrency platform is a fairly young project. Nevertheless, in just over a year and a half of its existence, it has been able to earn the trust of its users and demonstrate excellent quality of services.

One of the platform’s “disadvantages” is that the minimum deposit amount is quite high. But given the extensive functionality, the presence of a loyalty and training program, the high level of security and other positive aspects offered by the StormGain trading platform, it can be argued that this platform has high potential. StormGain directly competed with the established leaders in the cryptocurrency trading platform market and is a great choice for both beginners and experienced traders.

Communities Will Shape the Next Revolution in Business, Says Coupa CEO 5688

The power of community will fuel a revolution in the way we do business. This is the premise of Coupa Chairman and CEO Rob Bernshteyn’s new book, Smarter Together: How Communities are Shaping the Next Revolution in Business, which published today (Greenleaf Book Group, September 2020).

The book’s core idea is that none of us is as smart as all of us, and that leveraging anonymous, aggregate data from all members of the community will be the answer to the question of where we can find additional information to drive value in today’s increasingly competitive marketplace. Bernshteyn refers to this concept as Community Intelligence, and views it as a game-changer that will enable businesses to operate with more efficiency and agility in the future.

“The confluence of community and technology in the enterprise software industry is showing signs of incredible potential. Finally, we are amassing enough data, generating the computing speed required, and thus starting to gain the benefits that are coming with instant information sharing and collaboration,” said Bernshteyn. “I couldn’t be more convinced that now is the time for businesses to adopt Community Intelligence, which is in part, why I wrote the book. It’s very much a call-to-action to join this revolution, and in doing so, we will all become smarter together.”

“In the past two decades, the most powerful consumer companies building the best products and business models have leveraged Community Intelligence in new ways to deliver tremendous value to users, to partners, and to investors. In the near future, most enterprise companies will either adopt this weapon or be destroyed by new entrants to their fields who do,” said Noam Bardin, CEO at Waze. “Rob Bernshteyn’s book is a great analysis of this weapon and a practical guide to how to use it in the business, rather than consumer, market. Your current or future competitor is reading it and applying it to your industry. Ignore it at your own peril.”

Monero Outreach: Algorithm Battle Flares Between CipherTrace and Monero 5763

Contradicting claims were exchanged this week between cryptocurrency analytics firm CipherTrace and the Monero community after a press release from the firm claimed the ability to trace the movement of the Monero cryptocurrency. The CipherTrace press release spawned counters from the Monero community, including videos, public statements, and memes.

Many cryptocurrencies, including Bitcoin and Ethereum, use a transparent blockchain, where sending addresses and receiving addresses are broadcast for all to see. When these addresses are connected to individuals using data outside the blockchain, it discloses the spending and receiving patterns and connections of those individuals.

Monero is an open-source community-driven cryptocurrency focused on preventing this type of surveillance. Monero’s cryptographic algorithms prevent most blockchain analysis. By looking at the Monero blockchain alone, senders, receivers, and amounts in transactions cannot be determined. This protects Monero users even when an address owner happens to be identified using information outside the blockchain.

Because of this, CipherTrace’s Monero-tracing claim in its August 21, 2020, press release (ciphertrace.com/ciphertrace-announces-worlds-first-monero-tracing-capabilities) was unprecedented.

“Monero (XMR) is one of the most privacy-oriented cryptocurrencies,” said Dave Jevans, CEO of CipherTrace, in CipherTrace’s press release, and, “CipherTrace is proud to announce the world’s first Monero tracing capability.”

The announced work in part satisfied a US government contract, with Mr. Jevans acknowledging in the press release, “we are grateful for the support of the Department of Homeland Security’s Science & Technology Directorate on this project.”

MyBTC.ca Now Let’s Canadian’s Buy Bitcoin with Credit Cards Instantly 6217

MyBTC.ca

Bitcoin is showing strong signs of going parabolic before Christmas. As a result, thousands of Canadians are scrambling to buy a stake in the world’s favorite cryptocurrency. Doing so is also easy, thanks to MyBTC.ca now making it possible to buy Bitcoin with credit cards in Canada in a matter of seconds.

Being Able to Buy Bitcoin with Credit Cards in Canada is a Big Deal

Buying Bitcoin in Canada hasn’t always been as easy as you might think. Even today, Canadian’s who use international exchanges like Coinbase often have to wait for 2-weeks to have exchange accounts verified. This is why the past year has seen local exchanges like MyBTC.ca skyrocket in popularity.

Sadly, even when using local exchanges, paying for Bitcoin via bank transfer can still take up to 24-hours. Now, though, this is no longer the case.

How to Buy Bitcoin with Credit Card or Debit Card Instantly

Starting in time for this year’s Bitcoin bull run, MyBTC.ca has launched a new instant credit and debit card Bitcoin  payment portal powered by Simplex.

  • Buying Bitcoin is now as easy as entering the amount of BTC you want to purchase, followed by your Bitcoin wallet address.
  • After one-time identity verification with Simplex, all transactions settle instantly.

Now Canadian’s Can Buy Bitcoin Instantly at Current Market Rates

Until now, one of the only ways to buy Bitcoin instantly in Canada has been via Bitcoin ATMs. Sadly, Bitcoin ATMs charge high-fees. Using ATMs can pose more than a few physical security risks. Thankfully, Canadians can now buy Bitcoin instantly at current market rates, right from the comfort of their own smartphone. Don’t get left behind by the next Bitcoin bull run. If you are in Canada, visit MyBTC.ca now to buy Bitcoin faster, more securely, and more affordably, than at any other exchange.