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Category Archive: adoption

matchpool

Matchpool: a blockchain startup to find love

Of course everybody knows that today we celebrate Valentine’s day, so I want to dedicate this article to the blockchain startup called Matchpool that aims at helping you to find love.

“When I looked at the dating industry, I saw it was expensive to reach a critical mass of users and open a niche dating site. That’s why dominant sites are one-size-fits-all, but that’s not what most of us look for.” explained Yonatan Ben Shimon to Coindesk.

He is the founder and CEO of Matchpool, a new blockchain-based startup for dating with the main goal of bringing people together thanks to a matchmaking system: successful matchmakers earn a cryptocurrency reward for their work.

The unique selling proposition of Matchpool is combining together elements from traditional matchmaking with the transparency of Ethereum smart contracts.

Those potential matchmakers start pools, groups of users linked by a common interests – similar to Facebook groups – where users can private message one another in the hope of finding the right match.

Pool owners can monetize their matchmaking work in a few ways, including setting a membership fee to join or charging an amount for each message sent.

Also, they can try to maintain group diversity by setting smart contract-based options between different user attributes: for example, a 50/50 male-female split or a balanced age range.

Rather than using the everyone-for-themselves, search-and-filter strategy of platforms such as OKCupid, you can define Matchpool as a different approach to dating.

Matchpool tokens for dating rewards

But why is Matchpool wants to create its own cryptocurrency token?

Ben Shimon explained that his company was attracted to the idea of using a blockchain-based database to store data about user interactions so they can be difficult to edit.

He thinks that cryptocurrencies can be an attractive option if the objective is rewarding users with small amounts of money (micropayments) on a regular basis, especially  if compared to traditional gateway of payments.

Also, Matchpool’s token called Guppy will be used to attract users: 20% of the token supply will be used to incentivize new signups with a money prize – which for the time being will only be given to women.

“I believe that if we reward early users with real money – in a way that we couldn’t do with dollars – then we can cheaply overcome the initial barriers that come from the lack of network effect”.

With a token sale (also called “initial coin offering” or “ICO”) scheduled for March, and a launch date set in May, Matchpool won’t wait too long to see its results.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
blockchainproperties

Blockchain Properties: bitcoin tech to verify property transactions

One of the major use cases for the distributed ledger can be identified as “blockchain properties“, or the way to register and verify property transactions on the blockchain.

A few days ago, the first government to do so was Georgia that signed an agreement to use the blockchain to verify property transactions by using the well-known company BitFury services.

This is the first time that an American government uses the distributed ledger to prove and authenticate national operations using this disruptive technology.

Government on Blockchain

The private blockchain ledger that is an alter-proof ledger is also provable using the core bitcoin Blockchain that is in the public domain.

The Georgian National Agency of Public Registry and BitFury wrote a memorandum of understanding trying to find how to extend services to new land titles registration, property demolitions, mortgages, purchases and sales of land titles, rental and notary services.

There are a few other ideas focused on Blockchain land title services also in Sweden, Honduras and Cook County in Chicago which are being developed by ChromaWay, Factcom and Velox too.

Magazines also revealed that Peruvian Economist Hernando de Soto is involved with the Georgian Blockchain properties project too.

De Soto, in his book Mystery of Capital, estimates that there is “dead capital” of $20 trillion globally, consisting of buildings and lands without legal title.

Blockchain Properties on mobile

Tea Tsulukiani, Georgia’s Minister of Justice, commeted that she is very proud and happy that her country will work with the blockchain technology with the goal of having real estate quotations in a completely safe and secure system.

Also, chairman of the Georgian National Agency of Public Registry commented in a press release that he is “very pleased with the technical progress and looks forward to continuing their fruitful collaboration.”

BitFury CEO Valery Vavilov explained that the Georgian government is excited about the whole project and the methods used. Also, he continued by explaining that all the changes were executed for the citizens of Georgia, so they can track if a title is authentic when it is entered into the system.

The software is going to be completely operational during this year, he said.

“The big goal is to move the process to smartphones, so people can use it in any moments and all transactions are secured, transferrable and accountable.”

Applied on properties management, the Blockchain technology maintains agreements in a few ways: in blockchain-based entries, records are time-stamped  and this system would allow members interested in a property to verify and establish the date of previous sales.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
glasgow_digital_currency

Glasgow digital currency: hope or reality?

Soon many cities around the world will issue their own digital currency.

According to Pavel Bains, in fact, within the next 10 years we’ll see the first city that have its own digital money and that is separates from the national fiat currency.

The Blockchain Role

This could be the right time for cities to exploit the blockchain and adop their own currency.

But for a new digital currency to be adopted quickly it needs the following characteristics, according to Bains (and we tent to agree with him):

  1. Cheap: fiat currencies are very expensive to produce, manage and distribute. Conversely, a digital currency deletes all those costs and can easily be distributed;
  2. Secure: as it is digital, cryptographic and based on pure algorithms, the chance of forgery or distrust is removed;
  3. Safe: a digital currency can be backed by other assets like gold, treasury bills, foreign exchange or equities, just like fiat money;
  4. Usable: cities such as Stockholm are going purely digital, so a digital city currency could be massively adopted quickly.

The newest Glasgow digital currency

Bains is pretty sure that the first city to adopt a digital currency will be Glasgow.

This because the Scottish city failed to benefit from the England pound and it came close to a recession back in 2015.

Also, Brexit opened a real issue for Scotland’s future with the potential loss of trades. Demand for Scotland’s products is already declining: in that year there was an 11% drop in exports compared to 2.7% for the UK and with Brexit the situation can only get worse.

But Glasgow has the right tools to adopt its own digital currency. These the major reasons according to Bains:

  1. It has the regional size and population: this could make the difference compared to smaller cities such as Dundee;
  2. It has a high record of academia, government and business working together. This unity could be great to manage a new-born digital currency
  3. Glasgow has a thriving financial base, moving to 74th in the world for financial centers and this demonstrates the city has a good base and an educated population to operationalize the new digital currency system.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
blockchain_tourism

Blockchain Tourism: a task force in Hawaii

A new Blockchain Tourism project will be created in the State of Hawaii, where legislators decided to form a new working group focused on the blockchain tech.

If approved, the House Bill 1481 will lead to the creation of a task force with the goal of researching the use and practices related to the  distributed ledger technology.

This project is sponsored by Democratic Representatives Chris Lee and Mark Nakashima.

The official bill explained:

“The legislature finds that highly innovative technologies such as blockchain require an educated and measured approach so that regulations do not stymie innovation and growth in this State.”

The long-term goal, the bill states, is to seek ways for the technology to benefit local industries, residents and the State of Hawaii.

Should the measure be approved, the working group will have to prepare a report about the potential use cases specific to the State of Hawaii.

This research would also provide information on how the state itself could leverage the blockchain.

Among the areas of interest, of course, there would be the topic of tourism payments.

The bill also suggests that Hawaii should look to the technology as a way to encoure tourists from abroad to spend, improving the local economy.

“Digital currencies such as bitcoin have broad benefits for Hawaii. A large portion of Hawaii’s tourism market comes from Asia where the use of bitcoin as a virtual currency is expanding,” the bill reads. “Hawaii has the unique opportunity to explore the use of blockchain technology to make it easier for visitors to consume local goods and services and to drive the tourism economy.”

This Hawaiian bill is only one of the latest legislative efforts to be issued regarding the blockchain technology topic.

For example, in 2016 the State of Vermont proposed to modify a few laws of the country to allow blockchain data to be valid during trials.

This Legislative record also explained that the Vermont Senate introduced another bill to edit the country’s financial regulations to account for businesses that work in the digital currencies industry.

Recently we also talked about another project related to Blockchain Tourism: read more about the newest Webject project by clicking here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
Deutsche_Börse_blockchain

The newest Deutsche Börse Blockchain project

A new Deutsche Börse blockchain project was unveiled today as the market operator revealed a new blockchain proof-of-concept to manage bank cash transfers.

The so-called ‘CollCo’ (or, ‘collateralized coin’), is the new Deutsche Börse  blockchain project created together with Eurex Clearing, or the clearing house used by the Deutsche Börse.

Using the same code of the Hyperledger Fabric project as a basis, the company wants to obtain a patent approval for this revolutionary transfer solution available thanks to the distributed ledger.

According to  the official press release shared by the Deutsche Börse, the next step is to work with customers, regulatory and central banking contacts.

This is the official description for CollCo:

“All peer-to-peer payments based on tokenised commercial bank money are accompanied by movements of collateral between the respective Eurex Clearing members using the [central counter party’s] functionality and rules.”

The press release continues by saying that the idea links together “existing and potential new use cases” as the “handling of margining requirements, credit risk free payments, and delivery-versus-payment asset/value transfer on the blockchain”.

The Deutsche Börse has spent much time during the past year  testing several blockchain use cases, including one thanks to a partnership with Germany’s central bank.

Also, in February 2016, the company partecipated at the New York blockchain startup Digital Asset Holding’s $60m funding round.

During a speech given last week, CEO Carsten Kengeter talked about the so-dubbed “Exchange 4.0” powered by next-generation technologies.

“Exchange 4.0 will use blockchain intelligently. Exchange 4.0 will convert data into investment tools. Finally, Exchange 4.0 will be as varied – and perhaps also as easy to use – as an app store,” he explained.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
blockchain_healthcare

Blockchain Healthcare Applications for US FDA

The US Food and Drug Administration (FDA) revealed today its intent to study Blockchain Healthcare Applications.

The American agency who approves and regulates medical products announced its decision in a press release published by IBM Watson Health, that will team together with the FDA.

IBM will study how data from electronic medical records, clinical trials and health data from devices can be better shared and audited by using the distributed ledger.

To do so, it is not clear if IBM and the FDA will use a private blockchain or the Bitcoin one. Details may be published during next months.

Initial tests will be focused on clinical trials and real-world evidence data related to oncological data.

However, the two companies positioned the trial as one that could one day mitigate the potential of patient privacy breaches during electric exchanges.

The official press release revealed:

“By keeping an audit trail of all transactions on an unalterable distributed ledger, blockchain technology establishes accountability and transparency in the data exchange process.”

According to the press release, the IBM and the FDA will work together for a two-years period and their goal is publishing their researches in 2017.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
russian_blockchain

Russian Blockchain to improve national payments

Today we want to talk about the recent Russian Blockchain interest and the country major announcements related to bitcoin and the distributed ledger.

According to Economic Times, Russia wants to use the blockchain technology to improve its national payment system and to simplify clients’ identification.

The Association of Financial Innovation (AFI) in Russia, in fact, prepared a draft for improving the regulation of its own national payment system.

This draft has been shared for a first discussion on the Association’s official web site. After this discussion, the roadmap will be presented to the Russian Duma, the Ministry of finance and the Bank of Russia.

According to the official article, the roadmap includes the use of the distributed ledger technology for users identification. Here an extract:

“Along with expansion opportunities in the short term transactions under the simplified identification of clients, develop an approach and implement a single identifier (possibly using blockchain technology)”.

The Association for Financial Technologies Development (FinTech Association) was recently setted up by the Bank of Russia.

Its participants will study and test the most promising technologies, including the distributed ledger, open application program interface (open API) and remote identification technologies. Also, the association will create a single payment space both for households and legal entities.

Russian Blockchain Interest

Earlier in 2016, the Bank of Russia revealed its technical prototype for financial messaging, based on the blockchain and called Masterchain.

This tool would allow instant confirmation of data; also it would create a few financial opportunities for the market participants to provide game-changing products and services to their clients.

Recenlty Russia seems to love the Blockchain very much. In fact, the national tax authority recognized Bitcoin as a foreign money, expressing the legality of Bitcoin use and transactions.

Also, Siberia Airlines revealed its use of the Ethereum Blockchain Smart Contract in a few transations. 

To read more about Russian Blockchain projects, click here.

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Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

BNP Paribas Blockchain used for live transactions

A well-known worldwide seller and another important firm partecipated to the first live transactions using the BNP Paribas Blockchain service, as revealed today by the bank itself.

According to BNP Paribas, in fact, payments were processed between the Italian sports collectible firms Panini Group and the Australian packaging firm called Amcor.

The payment transactions were managed in a few minutes – the bank explained in the official press release – using different currencies to make transactions easier between bank accounts located in Germany, Netherlands and England.

Panini Group treasurer Fabrizio Masinelli commented in a statement:

“This proof-of-concept shows how powerful such technology can be and how it can be utilised as an effective and efficient response to the main issues that treasurers face on a daily basis.”

BNP Paribas Blockchain Proof of Concept

The transactions were managed by using the proof of concept called Cash Without Borders launched earlier this year after its incubation during a blockchain hackathon.

More Details about the size of the transactions will be revealed in the next future.

Also, the BNP Paribas blockchain service tested the so-called “mini-bonds” for small investments, as well as blockchain crowdfunding prototypes that might see the light next year.

According to the Panini Group’s official website, the company earned 751m euros in 2014 and employs 1,000 people worldwide.

Also, during the same year, Amcor earned  $10b in sales and employs 29,000 employees.

To read more about the BNP Paribas Blockchain service click here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Denmark Bitcoin: Digitalizing National Currency

Today I want to talk about the Denmark Bitcoin position and regulation.

Denmark is a place where its citizens relie on cash less than most other European countries, so it is thinking about digitalizing its national currency.

To do so, the Danish central bank wants to release its own digital currency based on a blockchain and it will be called e-krone.

Governor of the Danish central bank, Lars Rohde. commented that the government doesn’t want to print its own fiat currency in the future.

So Rohde is looking for outsourcing the production of Danish krone and wants to replace it with its independent financial system based on the distributed ledger technology: the e-krone.

In an interview conducted by Bloomberg, Rohde explained that the Danish central bank effort is not related to the blockchain technology or alternative fintech technologies:

“We’re not preoccupied with the technology because we know that issue well. Cash and notes are not an alternative to electronic payments. We went beyond that many years ago.”

Also, the most important problem the central bank is worried about is the anonymity of the e-krone.

At the moment, the Danish bank believes that the e-krone will have a serial number embedded onto its Blockchain, so the government will be able to track the currency thanks to a transparent ledger.

However, another issue about the anonymity of a currency are the predictable complaints by the Danish citizens who expect to be provided with financial freedom and privacy.

“All money held by Danes will eventually end up in the central bank in the event of a financial crisis, and we will indirectly end up doing a bailout because we become a creditor to all the banks.”

But the distributed ledger tech is not applicable to the concept of the Danish central bank, as structurally it cannot be established for the central bank as network moderator.

To read more news about Denmark Bitcoin position, click here.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio

Blockchain Copyright US Commerce Department

Blockchain Copyright will be the major topic to be discussed by the US Commerce Department on Friday 9th November, 2016.

The even is organized by the Internet Task Force department, supported by the US Patent and Trademark Organization (USTPO), the National Telecommunications and Information Administration (NTIA), the International Trade Administration (ITA) and the National Institute of Standards and Technology (NIST).

This group was created to study a wide range of topics, from blockchain copyright to digital privacy and cybersecurity.

The Commerce Department will be hosting a live streaming of the conference. You wil be able to watch it live here.

According to an agenda published by the Commerce Department, the event is being organized at the Silicon Valley office.

However, the blockchain copyright topic is not so new, as the idea that distributed ledger technology can be very useful in the digital copyright filed is being explored by several startups worldwide.

The idea is that a creative project can be linked to a transaction or digitized asset on an immutable ledger, so its provenance can be traced to its origin, verifying the true author behind it.

The one-day event, which will begin at 1:30 p.m. UTC, will include a panel session on registries and rights expression languages, and a conference that is expected to be focused on the use of the distributed ledger.

The next sessions will be focused on the blockchain and smart contracts as topics of discussion. And while no specific details about projects have been revealed, the conference will include a technology preview.

The department explained during its press release:

“We will discuss the potential for interoperability across digital registries and standards work in this field, and consider the relevant emerging technologies (eg, blockchain technology, open-source platforms). We will also explore potential approaches to guide their adoption and integration into the online marketplace.”

 

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio