CoinGeek Conference hashes out Bitcoin Cash's vital role in eCommerce

CoinGeek Conference hashes out Bitcoin Cash’s vital role in eCommerce

Bitcoin Cash (BCH) is one of the best-performing cryptocurrencies on the market today. Its rapid transaction times, on-chain scaling and low transaction fees make it the prime candidate to be used in the retail sphere, and the eCommerce industry is poised to reap huge rewards for its integration as a payment option. The inaugural CoinGeek conference on May 18 is the perfect event merchants and business leaders to come together and learn why BCH plays such a vital role in retail, and where it’s headed.

Jimmy Nguyen, CEO of nChain, one of the influential tech groups leading the development of Bitcoin BCH, said it best when he said that BCH shouldn’t be perceived as anti-bank or anti-establishment.  Just the opposite, BCH is designed to be a true digital payment system that is capable of being used by all industries—banks, payment services, technology-based and even entertainment.  It is the one cryptocurrency that offers the most versatility and reliability to all industries.

The CoinGeek conference, which will be held at Hong Kong’s Four Seasons hotel, is an exciting one-day conference highlighted by important discussions with some of the greatest minds in the cryptocurrency world today. Nguyen will be there to talk about BCH in retail, as will Bitcoin.com owner Roger Ver, nChain Chief Scientist Dr. Craig Wright, Bitmain co-founder Jihan Wu and many others. They’re all coming together to offer their expertise on the changing world of cryptocurrency in eCommerce, and why BCH is taking the lead.

The day kicks off at 8 a.m. with an informal meet-and-greet, the perfect opportunity to mingle with business leaders from around the world and to expand alliances. The series of seminars will wrap up before 6 p.m., leaving attendees with an incredible amount of information and a fun-filled day to remember.

After the conference, attendees can enjoy an after party hosted by CoinGeek founder and cryptocurrency entrepreneur Calvin Ayre. There are only about two weeks remaining before the conference, and reservations are required. Attendees who pay with BCH will receive 50% the regular admission price. Register today and join fellow business leaders, entrepreneurs and visionaries at this year’s one cryptocurrency conference that can truly make a difference.

Find out how you can integrate blockchain into your business by registering for the CoinGeek.com conference today.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Alcohol company Madison Group pours $60M into crypto miner Diginex

Alcohol company Madison Group pours $60M into crypto miner Diginex

The cryptocurrency and blockchain space appears to be getting crowded of late with several multinational companies and other large entities looking to pounce on what is proving to be a considerable investment opportunity, even amid the negative press that the market has had over the last few months.

The latest news in the acquisitions and sales market comes from Hong Kong. Diginex, a multinational crypto-asset investment services firm, announced that it has sold 51% of the company’s stake in the cryptocurrency and mining field to another Hong Kong-based firm, Madison Group Holdings.

Diginex is heavily invested in blockchain or distributed ledger technology (DLT), and it is slightly curious that they should sell their stake to a company who is better known for the retail of alcoholic beverages. The price for a 51% stake in the company was around $60 million. Undoubtedly Madison Group see a considerable potential in the cryptocurrency mining business, which has taken the world by storm of late. In fact only last week, multinational companies Samsung and AMD have reported record turnover and profits from their mining-related operations, largely through the sale of semiconductor chips.

The Memorandum of Agreement signed by the two companies listed other synergies, including the leverage of Diginex’s proprietary platform DigiAssets, which can also be used for cryptocurrency owners to purchase wines of high value as well as other assets. Madison’s investment will allow Diginex to continue rolling out their GPU mining operations in Western Europe in partnership with several hardware suppliers, as well as power and security providers—with a goal of building efficient mining and high-performance computing (HPC) data centers for cryptocurrencies.

In a statement, Diginex CEO Miles Pelham said Madison Group’s cash injection will allow the company “to expedite our steps towards becoming the global provider of Distributed Ledger Technologies. We will continue to build out our mining operations in Sweden and Switzerland, but also focus on helping corporates and governments across the world to implement transformative DLT applications.”

Privately-owned Diginex described itself as a full services provider for distributed ledger technologies, operating out of Hong Kong, Switzerland, Germany, and Japan. The company offers all DLT ecosystem services with mining and HPC operations in Asia, Switzerland and Sweden, as well as blockchain consulting, ICO advisory, smart contract design and provision together with cryptocurrency payments and crypto-asset investment services.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
CoinGeek Conference highlights Bitcoin Cash future in a bCommerce world

CoinGeek Conference highlights Bitcoin Cash future in a bCommerce world

The first ever CoinGeek conference will take place on May 18 at the Four Seasons Hong Kong. The one-day event is this year’s greatest opportunity to mix with the visionaries, experts and merchants in the cryptocurrency sphere to learn how Bitcoin Cash (BCH) is molding tomorrow’s eCommerce market. The industry’s most prominent names, including Bitcoin.com owner Roger Ver, nChain Chief Scientist Dr. Craig Wright and nChain CEO Jimmy Nguyen, will be on hand to provide their insights on the changing eCommerce landscape. The day will be filled with exciting seminars on a variety of topics that will help decision makers create new alliances and broaden their reach to increase integration of BCH across the retail industry.

The eCommerce industry still relies greatly on traditional electronic payment processors such as VISA or MasterCard. The introduction of cryptocurrency has revolutionized the online retail market—heralding the age of bCommerce (Bitcoin commerce). But what merchants need is greater adoption of digital currency payment solutions, preferably Bitcoin BCH, which offers much lower processing fees than paid to credit card issuers. With Bitcoin BCH, payments are confirmed almost immediately on the blockchain and chargebacks are virtually eliminated, thus increasing a merchant’s bottom line.

Bitcoin Cash fulfills the promise of Bitcoin to be the first peer-to-peer electronic cash. Merchants and users enjoy low fees and reliable, fast confirmations. Bitcoin BCH offers easy global adoption, unparalleled innovation, unrestricted growth and truly decentralized development, keeping with the vision of the Satoshi Nakamoto white paper.

The event delves into a variety of subjects, offering seminars led by some of cryptocurrency’s expert minds. Better wallets and payment solutions, merchant use cases, regulations and FinTech advancements are just a few of the topics that will be discussed. Be sure to check out the entire agenda to see why this is such an important event.

The CoinGeek conference, which is also hosting an after-party courtesy of CoinGeek.com owner and entrepreneur Calvin Ayre, is shaping up to be a game changer in merchant adoption and education in the benefits of Bitcoin BCH. Attendees who pay with BCH will receive a 50% discount off the regular price. Time is running out to register and space is limited. Sign up today and join fellow business leaders, entrepreneurs and visionaries at the one cryptocurrency conference that can make a difference.

Find out how you can integrate blockchain into your business by registering for the CoinGeek.com conference today.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Binance founder slapped with lawsuit over failed Sequoia deal

Binance founder slapped with lawsuit over failed Sequoia deal

This year is starting out rough for Binance. 

Zhao Changpeng, the founder of cryptocurrency exchange giant Binance, has been sued in Hong Kong’s High Court by venture capital firm Sequoia Capital after allegedly violating an exclusivity agreement by engaging with another venture capital firm.

Binance—despite only coming into business in July 2017, rose quickly to become the largest cryptocurrency exchange by January 2018. According to court filings, Sequoia started its relationship with Binance in August, bidding for a nearly 11% stake in the company which they valued at around $80 million at the time. Negotiations stretched on for months, however, with Zhao saying in December last year that their valuation of the exchange was too low.

The other venture capital firm in question—IDG Capital—allegedly came into the picture with a far bigger valuation of Binance, and a far bigger offer. According to Bloomberg, IDG offered two rounds of substantial funding: $400 million and $1 billion. The legality of this negotiation between Binance and IDG was challenged by Sequoia, which brought the case to court. An order was handed down banning Binance from entertaining other investors.

This isn’t the only problem Binance faced in recent months. In February, Binance had to temporarily shut down their platform, citing server issues. But this spiralled into an FUD battle against John McAfee, who later apologized for fanning the flame.

About a month later, the exchange fell victim to a breach which saw hackers infiltrating some users’ accounts and using their funds to pump a little known altcoin. This prompted the exchange to put a $250,000 bounty over the hackers’ heads. The exchange also allocated an additional $10 million in rewards for any other hacks that may happen in the future.

Unfortunately, all this commotion also triggered alarm bells from Japan’s Financial Services Agency (FSA). Binance received a warning of closure from the FSA, saying they have to comply with licensing requirements if they want to continue their operations. This confirmed an earlier report by news agency Nikkei , who Zhao accused of “irresponsible journalism” as he was initially denying any issues with the FSA.

Zhao Tweeted afterwards that they are finding a solution. “We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution,” he wrote.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Countdown begins for inaugural CoinGeek Conference in Hong Kong

Countdown begins for inaugural CoinGeek Conference in Hong Kong

The past couple of weeks have seen some incredibly positive movement in the cryptocurrency world, and Bitcoin Cash’s (BCH) value has almost doubled in this time. The increase, anticipated by many, shows the importance of the cryptocurrency to the industry and lends additional credence to the belief that BCH is the true remaining Bitcoin as envisioned by the Satoshi Nakamoto white paper. There are many reasons that have contributed to the rise in Bitcoin BCH value, and CoinGeek’s upcoming conference is the perfect venue to learn more about the cryptocurrency, as well as learn about how important it is for the future of eCommerce.

The conference will be held on May 18 at the Four Seasons hotel in Hong Kong. The one-day event will bring together the best of the cryptocurrency world and will provide a wealth of knowledge to merchants, enthusiasts and investors. Not only is it the place to be to learn about the future of BCH, but it is also the perfect location to network, create new alliances and to possibly expand business operations.

Some of the speakers that will be providing their cryptocurrency expertise include Bitcoin.com owner Roger Ver, nChain chief scientist Dr. Craig Wright and nChain CEO Jimmy Nguyen. The informative event will also see participation by Ryan X. Charles, co-founder and CEO of Yours.org, and SBI’s Chief Strategy Officer Jerry Chan, among others. Never have so many great cryptocurrency minds been brought together under one roof, and 2018 is shaping up to be the year that BCH pushes ahead. This conference is one you don’t want to miss!

With its lower fees, faster transactions and global acceptance, Bitcoin BCH is poised to completely change the cryptocurrency landscape. The CoinGeek Conference is poised to be a game-changer for merchant adoption and BCH education, with a great number of eCommerce specialists already signed up to attend.

There is limited attendance availability for this unique, industry-leading conference, and there aren’t many tickets remaining. An after-party courtesy of CoinGeek owner Calvin Ayre will follow the CoinGeek Conference. For anyone in the game, or looking to get involved, investing in this event can have incredibly lucrative rewards.

Registration for the conference is now open with a 50% discount for those paying in BCH, but credit card payments are also welcome.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
'First of a kind' CoinGeek Conference joins dots between Bitcoin BCH

‘First of a kind’ CoinGeek Conference joins dots between Bitcoin BCH, bCommerce

The date for the inaugural CoinGeek Conference is fast approaching, and Jimmy Nguyen, CEO of the nChain Group—one of the influential tech groups leading the development of Bitcoin Cash (BCH)—will be on hand at the event to kick things off with a discussion why eCommerce is poised to become BCommerce (Bitcoin commerce).

Bitcoin Cash has been making waves since it was introduced in August 2017, and not just as an investment mechanism, but as a legitimate payment option with fast transactions, extremely low fees and reliability. To keep things moving forward, it’s time for the development of better merchant solutions, better cryptocurrency wallets and better technology. These are just some of the topics that will be addressed by the best cryptocurrency minds at the inaugural CoinGeek Conference.

In addition to being a place to learn about the evolving world of BCH and eCommerce, the one-day conference is also the ideal location to network with others in the industry, find new partners and help to drive business. In Nguyen’s words, “the biggest and brightest minds” will be on hand, including Bitcoin.com owner Roger Ver, Bitmain CEO Jihan Wu and nChain Chief Scientist Dr. Craig Wright, along with an extensive list of other crypto and technical experts.

Some of the topics to be discussed include Bitcoin BCH technical visions, how to overcome technical hurdles and the growth of BCH adoption around the world. This is certainly gearing up to be an incredible conference with a lot of fun events, an exceptional after party and the “most fun you will ever have in Bitcoin.”

This inaugural CoinGeek conference will be held at the Four Seasons Hotel in the heart of Hong Kong’s central district. Twelve different sessions are scheduled for the conference, followed by an after-party courtesy of Calvin Ayre, founder and owner of CoinGeek.com, who said “Bitcoin Cash is a movement.” The incredible event will be an eye-opener for merchant adoption and BCH education, and is the one cryptocurrency conference worth attending this year.

Space for the exclusive event is limited and advanced ticket purchase is required. Don’t wait—find out how you can integrate blockchain into your business by registering for the CoinGeek.com Conference today.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Yours.org co-founder Ryan X. Charles takes part in CoinGeek Conference

Yours.org co-founder Ryan X. Charles takes part in CoinGeek Conference

Ryan X. Charles, the cryptocurrency engineer who founded Yours.org, will be on hand at the inaugural CoinGeek Conference on May 18. The conference will bring together the best and brightest in the cryptocurrency industry, and is the perfect venue to learn about Bitcoin Cash (BCH) and the evolution of cryptocurrency. Charles will be providing a presentation on “Making Bitcoin Cash Mainstream,” designed to provide an overview on how to incorporate BCH payments in a retail environment.

Charles studied astrophysics at Washington University. He began working for BitPay in 2014 as a software engineer in Atlanta before being bumped to lead developer in the company’s San Francisco office. He was also a teacher at the Blockchain University in San Francisco, traveling around the globe educating companies on blockchains and cryptocurrencies.

In August 2015, Charles launched Yours.org with co-founder Clemens Ley. The company works “to improve the quality of content on the internet by getting people paid for creating and discovering good content.” Yours.org’s mission is to provide a peer-to-peer payment system that rewards authors for their content, eventually weeding out clickbait, fake news and spam.

The first-ever CoinGeek Conference is designed to give attendees a unique perspective on BCH. Merchants, visionaries and investors will all be present, providing an array of presentations and panel discussions on the importance of BCH in the retail and eCommerce environments. The conference will be held from 8 a.m. to 6 p.m. at the Four Seasons Hong Kong. An after party, hosted by cryptocurrency investor and Antiguan entrepreneur Calvin Ayre, will be held beginning at 9 p.m. following the conference.

In addition to Charles, the conference will see participation by other prominent cryptocurrency figures, such as Jimmy Nguyen, Roger Ver and Dr. Craig Wright. For anyone in the crypto industry, the CoinGeek Conference is a must-attend event this year.

Registration for the conference is now open with a 50% discount for those paying in BCH, but credit card payments are also welcome.

Note: Tokens in the SegWit chain are referred to as SegWit-Coin BTC (inaccurately called Bitcoin Legacy or Core by many) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.
It's happening: CoinGeek inaugural conference all set for May 18

It’s happening: CoinGeek inaugural conference all set for May 18

The first-ever CoinGeek Conference is only a little more than a month away, and space is filling up quickly. The event will be a first for the industry, bringing together some of the greatest cryptocurrency minds to provide insight on how Bitcoin, specifically Bitcoin Cash, is shaping the future of digital currencies. A combination of merchants, investors and cryptocurrency visionaries will be on hand to discuss how BCH is poised to enable the next generation of eCommerce activity.

With presentations provided by some of the greatest talent in the industry, such as nChain CEO Jimmy Nguyen, Bitcoin.com owner Roger Ver and nChain Chief Scientist Dr. Craig Wright, the conference is a must for anyone in the eCommerce industry. BCH, with its wider user base and cheaper transaction fees, is quickly becoming the go-to digital currency around the globe, and its reputation continues to gain momentum. This is a great opportunity to not only catch up on the advances of the digital currency, but also to network with retail operators from around the world.

The one-day conference will cover a lot of ground in a short time. Topics such as “New Products, Opportunities and Challenges for Using Bitcoin,” “Bitcoin’s Atomic Age” and “A Roadmap from FinTech 1.5 to FinTech 2.0” are just a sampling of the important topics that will be covered. The final topic of the day, “Accepting Bitcoin Payments,” will show eCommerce entrepreneurs and seasoned professionals how easy it is to integrate a digital currency solution, and why now is the best time to do so.

This inaugural conference will be held at the luxurious Four Seasons Hotel Hong Kong. Located in the heart of Hong Kong’s central district, the Four Seasons offers amazing views of Victoria Harbor and is only minutes away from a lavish shopping spree or a great night out at world-class restaurants and clubs. There are two styles of guest room – Western contemporary, with silk-paneled walls and marble-floored entry foyers, and rooms with a traditional Chinese influence, featuring sculpted furnishings and gold leaf. Forbes Travel Guide awarded the hotel a five-star rating, one of only three hotels in the world to achieve this rating.

Twelve different sessions will be held throughout the day followed by an after-party courtesy of Calvin Ayre, founder and owner of CoinGeek.com.  In his own words, “Bitcoin Cash is more than a company; it’s a movement.” The event is poised to be a game-changer for merchant adoption and BCH education. BCH represents the truest definition of the “Satoshi vision,” offering faster transaction speeds, larger block sizes and lower fees.

Registration for the conference is now open with a 50% discount for those paying in Bitcoin Cash, but credit card payments are also welcome.

Vinny Lingham at TOKEN2049: If cryptocurrency doesn't self-regulate

Vinny Lingham at TOKEN2049: If cryptocurrency doesn’t self-regulate, governments will

Vinny Lingham tackles dumb money and half-baked tokenization projects which are attracting government scrutiny and can possibly lead to stifling regulation.

Last week’s TOKEN2049 put the ICO frenzy into the spotlight: it seems everyone is launching an ICO. Whether each token has technical and economic merits may be debatable, but it’s quite plain for anyone to see that things are going out of hand.

Civic CEO Vinny Lingham spoke at the TOKEN2049 conference in Hong Kong last week, focusing particularly on governance in the blockchain sphere.  He added that if the cryptocurrency industry wants to retain as much of its freedom as possible, it would need to “self-regulate” and construct its own code of conduct. Otherwise, governments will step in and may impose stricter regulations than most would be comfortable with, which could potentially impede innovation.

“The crypto sector will need to begin self-regulating due to a number of incidents that have caused concern recently, otherwise governments will impose stricter regulations,” Lingham said, summarizing the point in his presentation by saying “industries that don’t self-regulate get regulated.”

“If you look at history, if industries that don’t self-regulate in the sense that the business leaders don’t come together and argue for a code of conduct and a code of practices that becomes uniform across the industry, regulators get involved,” Lingham said.

Citing recent events such as the rise of scams, Lingham says government concern is not unfounded. These days, there are more ICOs than people can imagine, and there’s a lot of “dumb money” pouring into the space as misinformed people jump into investments without knowing full well what the risks are. Many cannot distinguish between legitimate projects and outright scams, despite obvious signs. Some even invest despite barefaced admissions by the project founders themselves that they are indeed, running a scam.

“These people don’t know better so now regulators are stepping up and saying we must protect people. This industry as it is emerging has got a lot of bad actors in it,” said Lingham. “There are things we can do around that as well in order to prevent too much regulation.”

“Token economy design is an important part of what you’re doing. Don’t take the money here and then worry about how you can make it work later on,” he asserted.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/vinny-lingham-token2049-cryptocurrency-doesnt-self-regulate-governments-will/

Dr. Craig Wright at TOKEN2049: 'I will make exchanges obsolete—watch next two years'

Dr. Craig Wright at TOKEN2049: ‘I will make exchanges obsolete—watch next two years’

Dr. Wright warns predatory ICOs and exchanges, which will be driven to the ground by the ‘atomic swap.’

At the TOKEN2049 in Hong Kong last week, nChain chief scientist Craig Wright’s speech went against what majority of the attendees (even speakers) stood for. Filled with hopeful start-up founders, several attendees to the event were also holding token sales. For a day trader, this was a jackpot.

But with so many already in existence—and with many more popping up as we speak—it’s quite logical to assume that majority of these will collapse. For one thing, many are set on launching ICOs simply because it has been known to generate massive funds, in a very short span of time–millions of dollars within 24 hours for some.

“I’m going to tell you a whole lot of things that you probably don’t want to hear today,” Wright, who has been quite the polarizing figure in the Bitcoin community for years, started his speech. Here we wrap up the key points in his speech at last week’s event.

Predatory ICOs, you’ve been warned

Wright then went on to warn ICOs, particularly those who are just hyping it up to generate quick bucks, without actually planning to deliver—which he says constitutes 99% of ICOs in existence.

“None of the ideas of ICO’s or whatever else works unless they have worth—not raising funds for the sake of raising funds, not anything else,” Wright said, adding that “code is law” is not a valid defense. Tokens sold through ICOs to generate funds can be categorized as securities.

“Just because you’ve conned some lawyer into misunderstanding it, doesn’t make it any different,” he said.

Wright says that if a company does fail, authorities will question whether the founders actually tried and built something, or if they just awarded themselves with big salaries to line their pockets. He added that he is helping and will continuously aid authorities in cleaning up the space of predatory companies.

“The law is law,” Wright said. “You try standing in front of a judge and telling him otherwise, and you’re going to be sorry because they can reach back in time. The SEC doesn’t think about what you’re doing now. They have a 20-year timeframe. You raise money and you don’t pay it back, they can reach back. Not ‘you got away with it.’”

“What they really should be used for is a new business model, not ‘how can we raise funds and deliver nothing,’” Wright said. “47% have nothing to show after a year but wasted money. It is worse than dot-com back in the 90s.”

Inclusion, not getting rich, is the real purpose of tokenization

Blockchain intended to bring equality and inclusion, but the human desire to own more than the next guy has always been a powerful motivating factor that has steered civilization into consumerism. Wright cited HODLing as the new age form of hoarding.

“HODLing is probably the most despicable, evil thing to do with Bitcoin. It is not saving, it is hoarding. Bitcoin is a payment system. It is cash. It is to be used to help people spend money,” he lamented. “People can actually spend and use, not hoard so that in ten years, they can go, ‘look! I’ve got more of something than I can hold.’”

According to Dr. Wright, a huge percentage of blockchain and cryptocurrency start-ups are merely taking advantage of the hype and value spikes caused by HODLers, instead of actually building something worthwhile. He states that tokenization was supposed to be a medium through which the world can create an “on-demand economy,” an Uber for everything you need, as he puts it.

Efficient, high-speed production of supplies that are made on-demand with a traceable and verifiable supply chain on the blockchain, he says, is what tokenization should be used for, making otherwise luxury items a common and accessible thing for all people.

“Everything that is common now used to be a luxury—toilets were a luxury 100 years ago. Victorian England—if you had a flush toilet, you were rich. Now no one would buy a house in the West without a toilet.”

Now, he says that services and supplies can be tailored to individuals because “one thing for everyone doesn’t work,” and that supplies can be delivered whenever they are needed, wherever they are needed, to those who need them the most.

He went on to discuss how this new revolution could open up the floodgates to inclusion and global interaction.

“This is a world that is becoming more and more global—that is a good thing,” Wright said. “As we start trading with people, we start building relationships and having to understand them.”

“When we want to start actually understanding our customers in different parts of the world, then we start to be exposed to different culture, different ways of life—different ways of doing things. It opens us up and we all grow as people, as humans. We don’t become so isolated and insular.”

An age of equality, meritocracy

“Tokens enable something miraculous if done right. They enable a world where every person in this bloody globe—not just someone in a little area in Silicon Valley—can start trading. But someone in Ghana can write code, design, build,” said Wright.

“Imagine that poor guy in the middle of Venezuela who wants to earn some money and be able to live and trade and do something. Now, he can write an article, now he can design something and own the digital rights to it and have someone (3D) print it anywhere on earth. That’s what this is really about. The ability for anyone to get out there and do something and promote something of substance and to compete on merit,” he said.

He added that the implications of tokenization on the blockchain for equality is massive, and can help people from all walks of life compete on equal grounds regardless of the circumstances under which they were born.

“Not with government handouts, not with government subsidies not because they inherited wealth –because they do it better, they work hard, they think smarter. That’s what tokens will deliver. The true gains of the digital economy aren’t yet, they will be when we have everything able to be taken anywhere, and used anywhere.”

The biggest bomb: ‘atomic Swaps’ and ‘evolving codes’

So far, Dr. Wright’s promise to help authorities prosecute predatory ICO’s was not even the biggest bomb in his speech. According to him, he will be driving exchanges to the ground by creating their ultimate competitor—a free cryptocurrency exchange mechanism, one that will enable transfers as fast and simple, as say, sending someone a Facebook message.

There is no detailed information on the new mechanism as of yet, but Wright says they will be releasing some papers starting May, two months from now onwards, that will change everyone’s perspective—and probably shatter several businesses.

“We’re going to start teaching you how everything you thought about Bitcoin is probably wrong. We’re going to teach you how to do ‘atomic swaps,’” he announced. While he says he can’t announce the specifics until the paperwork has been finished, his description of the mechanism is quite unnerving, particularly if you are running, or building a cryptocurrency exchange.

“I can buy and sell Ethereum to Dash inside Bitcoin today. I can make exchanges obsolete,” Wright declared. “Right now, I can do a peer-to-peer exchange of Ethereum and Dash on Bitcoin Cash.”

Addressing cryptocurrency exchanges, Wright warned: “We’re going to make you obsolete—not so that we make money out of it—so that we start people trading.” Precisely how he’s going to drive exchanges obsolete, apart from the capability for direct cross-blockchain transfer, is the fact that it’s free.

“I don’t want your money. There’s my scam: I’m not going to take a cent from anyone,” adding that those raising money to put up cryptocurrency exchanges can still “go for it,” but that their days are numbered.

“I’m not going to stop you. I’m just going to basically out-compete you. We’re going to release—freely—a whole [lot of things] that make all that you’re doing there obsolete.”

“That’s what we’re going to deliver on Bitcoin Cash. And you’ll say, ‘you can’t do that.’ And I’ll say, ‘watch.’ You’ll say, ‘you can’t trade these things securely.’ I’m gonna tell you, ‘watch,’” he dared.

He reiterated on the proof-of-work principle of blockchain, and how the new revolution would supposedly make competition all about creating and delivering.

“It is proof-of-work, not ‘proof-of-I-want-something,’ proof-of-work. And if you don’t get that, watch the next two years. You’re going to have some eye-openers,” he said. He adds that he doesn’t care if people hate him for this—all he cares is that people “develop, deliver, and create.”

“And if you don’t want to develop, deliver, and create, we’re going to make a world where you’re going to have to.”

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/dr-craig-wright-token2049-will-make-exchanges-obsolete-watch-next-two-years/

TOKEN2049 Hong Kong shines spotlight on ICO frenzy

TOKEN2049 Hong Kong shines spotlight on ICO frenzy

Speakers discussed new tokens and projects, as well as bringing order into the still-wild sphere.

Last week, blockchain and cryptocurrency start-up founders from all across the globe got together for the TOKEN2049 Conference, held at the Kerry Hotel in Kowloon, Hong Kong. The two-day event, held March 20 and 21, boasted of a variety of speakers from different corners of the crypto ecosystem who shared their insights on the development of the space as well as projects they’re working on.

Notable speakers include nChain chief scientist Dr. Craig S. Wright, “Cryptoassets” author and Placeholder partner Chris Burniske, Civic CEO Vinny Lingham, BnkToTheFuture CEO Simon Dixon, among others.

If you’re a day trader who gets excited about ICO’s, this event is your Wonderland. On the other hand, if you are looking to weed out ICO’s and narrow your day down to more specific disruptive projects, the countless start-ups in this event can be quite dizzying.

Overall, the event was quite busy and networking wasn’t a problem, with everyone eager to engage in conversation. Members of the media were able to sit down for interviews with founders as there was a dedicated media lounge (which was more quiet) for that very purpose, although you’re more likely to run into interesting people by circulating in the common areas, of course.

ICO frenzy aside, there were some good points and important topics that were discussed surrounding token sales and cryptocurrencies in general. Civic’s Vinny Lingham spoke about the governance side of blockchains, citing scams like Bitconnect as a reason for the need for protection, adding how “industries that don’t self-regulate get regulated.”

Dr. Craig Wright also warned against founders who launch ICO’s just to generate quick funds. “None of the ideas of ICO’s or whatever else works unless they have worth—not raising funds for the sake of raising funds, not anything else,” Wright said. He reiterated the fact that some ICO’s can be categorized as securities—just because they were issued in the form of digital tokens, it doesn’t mean they are exempt from traditional laws, and that “code is law” is not a valid defense.

“The law is law,” Wright said. “You try standing in front of a judge and telling him otherwise, and you’re going to be sorry because they can reach back in time. The SEC doesn’t think about what you’re doing now. They have a 20-year timeframe. You raise money and you don’t pay it back, they can reach back. Not ‘you got away with it.’”

Guests of the event were mostly start-ups building ICO projects (as expected), and some that tackle social issues like Shyft—a project aiming to build a globally accepted identification system that hopes to expand inclusion for social services and protection to the unbanked, fund allocation transparency, as well as others—which we will feature in later posts.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.

source: https://coingeek.com/token2049-hong-kong-shines-spotlight-ico-frenzy/

Securities regulator stops Hong Kong company from offering ICO

Securities regulator stops Hong Kong company from offering ICO

Most recent regulatory actions by Hong Kong’s Securities and Futures Commission (SFC) has led to the shutdown of an initial coin offering (ICO) of a company called Black Cell Technology Limited.

Black Cell has been selling “krop” tokens as a means to connect buyers with crop and livestock producers. But the SFC said the startup had engaged in “potential unauthorized promotional activities and unlicensed regulated activities.”

The regulations by SFC have resulted in Black Cell stopping any sales activities to the public in Hong Kong. The company has also agreed to unwind ICO transactions for Hong Kong investors and return their investments by March 29th.

According to SFC, Black Cell promised investors to use ICO proceedings to fund the development of the mobile application. They also said that token holders will be eligible to redeem their equity shares from the crowdsale. As per SFC regulations, such arrangements made Black Cell a “collective investment scheme” rather than an ICO, hence the need for approval from SFC before marketing the ICO to the public in Hong Kong.

Despite having made many regulatory interventions against various ICOs, this is the first time SFC has publicly mentioned a company it is taking actions against.

The regulatory action by SFC comes two months after the Philippines Securities and Exchange Commission filed a cease and desist action against Black Cell for selling unregistered securities. Despite Black Cell’s appeal, a court in the Philippines confirmed that krop tokens are unregistered securities. As a result, the cease and desist order is now permanently stopping Black Cell from initiating an ICO in the country.

SFC advised parties wishing to engage in any ICO-related activity to seek legal or other professional advice, if they are in doubt of the applicable legal and regulatory requirements. Investors are also to exercise caution before making investments in any ICO.

Black Cell technology is still offering the ICO to the public; however, there is a note on the site stating that the sales are not open to residents of the U.S., Hong Kong, and other ICO-hostile areas.

Note: Tokens in the SegWit chain are referred to as SegWit1X (BTC) and SegWit Gold (SWG) and are no longer Bitcoin. Bitcoin Cash (BCH) is the only true Bitcoin as intended by the original Satoshi white paper.  Bitcoin BCH is the only public block chain that offers safe and cheap microtransactions.