Introducing Modex – The First Smart Contract Marketplace

Over the last 9 years, blockchain technology has been intent on revolutionizing the way we perceive and use everyday instruments and applications.

From financial transactions in cryptocurrencies to radical application development through smart contracts, the technology has opened doors to improving already-established processes in an unprecedented yet positive manner.

After touching various aspects of our lives and gently nudging them onto the path for betterment, the technology has now turned towards another medium that remains ubiquitous for anyone who uses a phone: the app store.

Whether you swear by the friendliness of iOS or proudly identify as a member of the Android camp, using the iTunes app store or the Google Play app store is something that you must at least do a few times a month.

And if you are a blockchain user, then you must have given some thought to this question: “What if there was an app store for blockchain? Won’t that be sweet?”

While that may have been a long lost thought until sometime ago, the idea has now become tangible.

Make way for Modex, the first smart contract store for blockchain platforms.

 

What Are Smart Contracts and How Does Modex Utilize Them?

Founded in 2017, Modex is the world’s first ever smart contract marketplace that allows people to create, share, sell and purchase these executable pieces of code that could perform a slew of functions just by the click of a button.

Ever since smart contracts debuted through Ethereum, they have paved way to a whole new generation of app and platform development.

From the creation of new tokens to the tangible delivery of subversive ideas, smart contracts have made it possible for blockchain technology to evolve from its once-default position of just being used for cryptocurrencies.

These contracts are now often utilized to design and execute financial and non-traditional transactions, where they serve as the lifeblood of several decentralized applications (DApps) across those platforms which support them. In some cases, they are the DApps.

While various platforms have recently started gaining traction for their usage of smart contracts and their ability to develop DApps, Ethereum remains the first and arguably still the best option for smart contract developers due to its Turing complete contracts, which have been known to be the force behind applications such as Augur – an online prediction markets platform that launched for public use in July 2018.

Seeing the success and wider user adoption of Ethereum, Modex has not only been built upon the platform but also focuses on featuring Ethereum-based smart contracts on its marketplace during its initial run.

By running a marketplace of smart contracts, Modex will be able to assist those business owners and individuals who are interested in adopting blockchain technology for their own but do not have the time or resources to dedicate for creating smart contracts or DApps from scratch. What adds to Modex’s offering is that the offered smart contracts are not just available as single file applications, but come with complete repositories and documentation, essential tracking and other necessary tools that buyers would require to integrate their purchase within their own solutions.

This will also help those developers who have created smart contracts for various uses but which have not been utilized in a larger capacity by any of their targeted blockchains, or those developers who are open to creating smart contracts just so they could sell them to interested individuals for a steady source of revenue – similar to how developers and publishers operate on the app stores. In addition to providing developers with a marketplace for their smart contracts and APIs, Modex also provides them with a holistic toolkit of development essentials such as IDE, which will help them create and test smart contracts and DApps; source code auditing assistance, which can help them ensure that there are no faults in their coding; as well as a Test Net environment where they can test their offerings before having them available for sale.

The project plans to consider and add other blockchains’ smart contracts to its platform once it tests how Ethereum’s smart contracts fare against its target market.

Which is something that Modex is able to do through its already-launched alpha marketplace.

That is correct, Modex already has a working product.

While the project is still under development and on the way to conduct its initial token offering/crowdsale, what sets it apart from other blockchain platforms is how it has already presented a functioning product in its alpha launch for anyone to test exactly how its solutions will work.

The interface of the marketplace remains aesthetically pleasing while also being simple to use, with the available smart contracts segregated through categories, similar to how iOS and Android app stores treat their apps while showcasing them to their users. Users can purchase their choice of smart contracts or APIs by selecting them, and the process is no different than when you buy an app through your smartphone.

The alpha marketplace is open for buying and selling transactions and lists various available Ethereum smart contracts for purchase, where interested individuals could buy and use them in their own blockchain plans, with freelance developers being able to sign up and put up their own smart contracts for sale upon their own discretion.

In fact, to test the viability of its service within the real world, Modex is actually encouraging smart contract developers to join its platform, where it is giving away 1,000 of its native MODEX tokens to the first 1,000 developers who sign-up with Modex marketplace.

Which brings us to the discussion of how MODEX tokens work and if it is beneficial at all to obtain them during the aforementioned crowdsale.

 

The MODEX Token and the Purpose That It Serves

MODEX is an ERC20 token that is utilized as a means of utility on the Modex platform.

It is the main instrument of transaction on the Modex platform, supplementing essential functions such as the selling and purchasing of available smart contracts, the creation and uploading of new smart contracts, as well as the transactions for new APIs based upon smart contracts.

Since the token is the main source of monetization on the platform, it is essential to Modex’s operations. That is why, anyone who might be interested in a project like Modex, that is basically an amalgamation of App Stores, GitHub and Heroku for blockchain, might find it prudent to get their hands on the tokens during their planned crowdsale.

 

The MODEX Whitelist and Initial Token Offering/Crowdsale Event

Modex already completed its private pre-sale back in November 2017. However, after taking its time to develop a functional and working product, the Modex team is now going for a public crowdsale event.

The Modex Whitelist process for said crowdsale is now open to the public, where interested participants can submit their details in order to go through necessary know your customer (KYC) and anti-money laundering (AML) procedures in order to verify their identity, so that Modex and its other stakeholders could feel safe in the knowledge that anyone who has a stake in the project comes from good faith and does not put other investors at risk.

Modex is giving out its MODEX tokens in pre-packaged deals, which have been categorized in Silver, Gold and Platinum packages. Each of these packages contain a different number of tokens and also offer varied percentages of bonus amounts, ranging from 15% to 25%.

All that an interested individual has to do is to enroll into the program by submitting their information here, and they will be shortly contacted by the Modex team to complete the purchase of their selected package in case their application gets approved.

The token sale event will start on September 15, 2018. It will run for 9 days before being concluded.

Total Token Supply: 266,399,993 MODEX (over 266 million MODEX)

4 Year Token Allocation

26.7M: For adoption incentives/bounty programs

17.8M: Market development

2.6M: Market movement incentive

47.2M: Total kept in MODEX token (not including reserve tokens)

59.8M: Operational expenses including marketing

 

How Viable Is MODEX and Does It Have the Potential to be Successful?

The fact that the project has a functioning product is proof enough of its viability in terms of execution. Unlike other blockchain ventures that have nothing to show but words and promises, Modex establishes what it can do for its investors through a tangible, real world demonstration of its end product.

The project’s whitepaper itself is one of the most detailed and self-aware piece of such writing that you might have seen in a long time, covering the functionalities, the benefits and even the risks of the platform – which is something that is a rarity in this industry where all such ventures are just out to take the investor’s money and try to hide any potential risks under the rug, however glaring they might be.

The team behind Modex seems to be tenured and proficient, with the key players all having their established LinkedIn profiles linked to the website. When you look at the strength of their team, it is evident that these are people who hold a vast collective experience yet from having worked in different sectors of technology, all of which would be integral and beneficial for Modex at one point or another. Some of the companies that the personnel have previously worked at include but are not limited to Oracle, Unisoft, Temenos, and Deloitte.

With a propitiously setup business model, a clear use case, and a holistic platform that brings it all together, Modex seems to be a potential winner. It just remains to be seen whether the team would be able to emulate the same level of proficiency and success that it has maintained over the past year, as that will define its path and its fate for the future.

 

ICO Website: https://www.modex.tech

Telegram: tg://join?invite=GNE4JQxWumaWJxaSn3ksMw

Facebook:  https://www.facebook.com/modex.tech.team

Twitter: https://twitter.com/modex_tech

LinkedIn: https://www.linkedin.com/company/modex-platform/

Instagram: https://www.instagram.com/modex.technologies/

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The Rise of Litecoin Privacy Over Monero

The Dark Web has been around for some time now and it was beneficial to the pioneer cryptocurrency Bitcoin as well. The dark web was where Bitcoin initially found a foothold, allowing individuals to complete different transactions in an uncomplicated manner. The users of sites like Silk Road by Ross Ulbricht and others saw an adoption of the leading cryptocurrency by market capitalization because of the different properties and characteristics of the cryptocurrency.

Yet, as Bitcoin has gone more mainstream with more people jumping from government entities and others who are tracking transactions through the public ledger and that, tied with the KYC and AML laws, makes it to where, if one transacts or has a wallet with an exchange like Coinbase, aspects of privacy might not truly be present.

Due to these reasons and more, individuals have been turning their gaze to other cryptocurrencies that can fulfill these privacy oriented purposes, these coins, commonly known as privacy coins in the industry have seen a high amount of interest. Coins like Monero, Verge, PivX, DASH, Phore and others.

Though not intended as a privacy coin, Liteoin has been seeing more use and interest on the Dark Web, and the competition in the adoption is neck at neck as the market sorts out which coins will truly live up to to utmost privacy.

Litecoin privacy, Monero and Privacy

As noted above, as Bitcoin has gained popularity across the world wide web due to its skyrocketing in price, individuals have looked to other coins to fulfill their needs for privacy. Bitcoin has been causing issues in regards to transactions due to a variety of factors, two of the main ones has been the speed and costs of transactions. The slow speed and the costs in both dollars and lack of privacy has posed problems for a substantial portion of the crypto community.

This has caused both sellers and consumers to look to other options for dealing with these concerns. One currency that has been utilized has been Monero because of its privacy focus as well its lower cost of transactions. Monero has also been in demand for mining as different sites have been used to mine without their knowledge.

Yet, in regards to privacy, Monero has faced some issues, there has been some controversy as to how private the coin really is. The issues circle around being able to understand when the transaction took place and the lack of proper identity mixing in the coin. These issues can lead to willing third parties being able to identify the actual transaction and even the sender in a transaction.

These two issues do not bode well with users who are looking at using it primarily for its privacy characteristics, they believe that the coin is called a privacy coin for a reason, the possibility of privacy.

It seems that users have searched for other options to suit their needs and one of the coins that they have turned to is Litecoin for privacy.

Welcome to the dark side, Litecoin privacy or cost savings

As users are not too happy with the current state of matters with Monero, they have turned to coins like Litecoin for privacy or cost savings.

Which really doesn’t make any sense from a privacy standpoint, Litecoin was not made to be a privacy coin, in fact, it was simply a fork of Bitcoin which is regarded as digital silver to bitcoin’s gold, the real use case might be its cost savings.

Litecoin privacy or cost savings has contributed to the rise in its use on the dark web as over 20% of transactions on the dark web are conducted through the use of Litecoin.

The competition for use in privacy seems to be between Dash, Litecoin, and Monero. Is Litecoin privacy something that is truly present and will it continue to be used on the dark web? Maybe the reason why Litecoin is being used is not for Litecoin privacy but because of its cost savings and maybe privacy will be implemented in the near future? But privacy implementations to Litecoin would not make sense, because of its listing on exchanges like Coinbase who pride themselves on being compliant with regulators, regulators would not be too happy with a privacy-based coin being supported by a compliant exchange. This was witnessed by the Coincheck Exchange taking away privacy coins from their exchange due to pressure from regulators.

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Tron (TRX) Announce Latest Dapp, TronChat

Tron investors will be very excited over the latest announcement made by Justin Sun’s team. Tron will launching an exciting new Dapp built on Tron call TronChat, which will be powered by the TRX token.

Tron is an entirely new social media platform that allows you to easily earn TRX in a wide variety of fun and interesting ways. TronChat is like if Instagram, Venmo and Telegram had a blockchain baby.

What is the purpose of TronChat?

TronChat was built so that users can “make money from their everyday interactions with social media.”

Social media was never built for you to make money. Instagram, Facebook, YouTube and others were built for the sole purpose of generating profits for the platforms based on your user activity and personal data. TronChat was created to fix this paradigm, and allow users to make money from their everyday interactions with social media.

As the blockchain world continues to develop and dApp’s are now in development, TronChat is aiming to be the first “killer dApp”. TronChat will be available to the whole world much like any other social media platform, but will allow the users to share in the profits made. Focusing on the true utility of blockchain which is decentralisation, meaning profits will not be made ‘from’ the user but rather ‘for’ the users. TronChat will allow everyone to earn TRX simply by using social media.

How will TronChat work?

The team at Tron describe TronChat as a somewhat brainchild of Instagram, Venmo and Telegram.

The standalone social media app will allow users to enjoy all the photo, video and story-posting features they love about Instagram with the chat functionality users have come to adore about Telegram.

The platform appears as though it is going to try and merge a number of popular social media concepts into one. On the official article posted by the TronChat team they list the following:

Content Sharing:

Post stories, pictures and videos with the intuitive functionality found in leading social media apps. Easily make your content premium and choose how much TRX it will cost for your viewers to unlock the post. Premium content is completely optional! This can be done on a per-post basis, and users can charge TRX for subscriptions to premium profiles. Followers can easily tip TRX on posts that they like. This offers creators a variety of new ways to earn actual money for their work. These features are not available on mainstream social media platforms despite the fact that followers are often excited and willing to support their favorite creators.

Messaging:

Send a message that grabs the reader’s attention. TronChat’s messaging is designed to remove spam and bring meaning to every interaction on the platform. With TronChat you can attach TRX to your messages to make sure they are opened. You can also add more TRX to automatically record and see the recipient’s reaction. Imagine what Justin Sun’s face will look like as he reads your message! Oh wait, you won’t have to!

Chatrooms:

Chatrooms are a critical aspect of interaction in the crypto community, and TronChat allows for all the functionality you love about Telegram with the ability to easily send TRX or tip the chatroom creators. It’s no secret that many chatrooms are private and require a fee to enter, so we built that feature right into the app.

Direct Updates:

Users can opt-in to “Direct Updates” from a page to be notified whenever the page has news. These updates can also contain a TRX reward for opening or completing actions like taking surveys. Direct updates will completely disrupt the email newsletter as we know it.

Tipping:

Tipping is just good manners! And now with TronChat tipping can easily be done across the entire app, making it easier than ever to transfer some crypto to your favorite content creator or social media buddy.

When can you download and use TronChat?

TronChat is currently in development and has already completed most critical components of the app. The TronChat project is currently looking to secure funding to accelerate the release of a full version. If you love the concept for TronChat, help our project by sharing this article with the world and retweeting our twitter post linked below.

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Soon You Will Be Able To Pay For Your UBER Using Cryptocurrency – REM Loyalty, The Interoperable Rewards Token

The new technology that is the blockchain opens up a whole new world of potential. The blockchain brings quite a few promises, breaking the need for a middleman, eliminating the aspect of trust, providing for more safety and unlocking more areas of untapped value.

Yet, there has been a pressing concern.  A question that is resting on many a mind.

Where is the utility? When does this sector progress from rampant speculation and promises of a brave new world to the realization of daily utility?

This is a real issue, excessive hype usually comes before a painful fall.

Thankfully, a few bright minds are taking a look at the sector and acting different.

They view the blockchain space as something that can help improve current systems.

These improvements can have slight impacts at the present moment but large effects over time.

REM Loyalty seems like one of these few teams in the sector right now.

What is REM Loyalty?

REM Loyalty is a loyalty rewards company and its reward point is blockchain token built on Stellar, called the REM. It is an inter-operable rewards token.

The REM has a variety of use cases but here are the most important ones.

The first use case of the REM Token is that of rewards. Fortunate individuals who have these tokens can trade with participating merchants. These include UBER, Stubhub and through their integrated travel agent, pinnedit.com, REM Loyalty offers bookings on every airline and every hotel in the world. Individuals will also be able to pay rent with the token as well as earn rewards just by paying rent on time and keeping the place clean.

The second use case it to swap points across programs. REM Loyalty’s token sale is designed to enter agreements with large loyalty programs and finally enable us to combine points across different loyalty groups.

For businesses, they can easily adopt the REM as their loyalty solution. REM Loyalty makes it simply to integrate with them and any unused reward points can simply be sold on exchanges.  This makes it very efficient to give to their clients as there is no waste.

REM Loyalty has just signed an agreement with the White Company https://thewcomp.com/ as its rewards partner to add luxury goods to its market as well as issue co-branded virtual tap and pay cards which will allow the REM to be redeemed at over 48 million POS outlets globally. It also has just signed an agreement with Performance Labs which will allow people to earn rewards from reaching their exercise goals http://arda.ai/. Both of these new partners are blockchain companies.

REM Loyalty is now also in discussion with one of the largest health care providers in the USA to become its loyalty rewards partner. Traditional business sees REM Loyalty as a great bridge to the crypto community.

Individuals and companies will be able to access their wallet on their mobile device and manage their points in a single location. The wallet contains the marketplace to make booking flights, hotels, and accommodation easy.

How efficient is the REM?

Because the REM is decentralized, its value is determined by the market. Most loyalty programs are made up of inflated artificial points controlled by the airline, grocer or petrol station. Traditional loyalty programs have pre-set redemption rates and anyone can see there is a big artificial margin involved to obtain goods and services. Not so with the REM. Real prices are used.

REM Loyalty recently conducted benchmarking based on its issue price of 4c. This compares well versus Avios for example which retail at 4.2c USD. Most airline points are around 4c USD. As shown in the illustration, only one-third to one-half of the reward points are used compared to British Airlines, Qantas, American, United, Delta and Air Canada. So, you can fly more or you can fly flat in business, whatever you like.

 

Token Sale and Progress

The team will use the Stellar Blockchain and host their token sale on September 4th, 2018, it will end on October 31.  

With its commercial partners in place and a technical solution available immediately on day 1, we think this is a great example of utility delivered. Buy the REM tokens and redeem them the same day if you like!

Join the conversation on Telegram at https://t.me/REM_Loyalty and keep up with them over here.

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The Days of Crypto Mining are Ending. The Possibility to Profit is Just Getting Started.

Since the cryptocurrency movement burst onto the main stage of our collective conscious in 2017, it has produced a slew of ancillary products and peculiarities that transcend just digital currencies. 

For instance, the emergence of ICOs, the financing mechanism for launching new blockchain-based platforms, netted more than $18 billion for blockchain startups this year. In addition, new financial products including Bitcoin futures contracts and the prospect of crypto ETFs are encroaching on the traditional financial industry in a profound way.

Despite the incredible scale and impact of these initiatives that continually make news headlines in the crypto space, nothing has been as shocking as the crypto movement’s impact on GPU availability. 

A Temporary GPU Shortage

Cryptocurrencies are managed by blockchain technology, which is maintained as the network’s computers complete complex algorithms. As cryptocurrencies began soaring in value, crypto mining companies and entrepreneurial minded individuals started aggressively purchasing these units. As The Wall Street Journal reported last June, “about $100 million worth of GPU processors were added to the networks that mine Ethereum in just 11 days.”

GPU prices quickly rose. According to The Verge, some GPU units experienced prices increases of more than 80%, a shocking rise in a short period of time. Despite the climbing costs, a global shortage of GPU units quickly ensued, leaving PC gamers and aspiring crypto miners without the technology that was readily available on store shelves just a year ago.

However, GPU powered crypto mining was never the most efficient or effective way to manage digital currencies. As mind-blowing comparisons – like the fact that creating a single Bitcoin through mining consumers enough energy to power a home for two years – clearly convey, crypto mining was not destined to continue forever. 

Indeed, as blockchain platforms like Ethereum evolve and mature, crypto mining using GPU units is increasingly less profitable, and the network’s transition to ASICs make them ineffective altogether. The result, of course, is a deluge of unused or underutilized GPU units and a shifting landscape for graphics card producers. 

After struggling to keep the items in stock, producers are finding an empty market for their most recent products. To compensate, some companies including Nvidia and AMD have cut prices by 25%. According to Nvidia CEO, Colette Kress, “Our revenue outlook had anticipated cryptocurrency-specific products declining to approximately $100 million.” Moreover, Mr. Kress doesn’t see this decline abating any time soon. She added, “We now expect a negligible contribution going forward.”

GPU producers will undoubtedly feel the pain of decreased sales from crypto miners, but the industry is poised to return to its original target audience of PC gamers who are continually clamoring for access to this technology to power their increasingly GPU intensive gaming rigs. 

A New Market Emerges

However, the individual crypto miners who stocked up on GPU to participate in the mining process are likely still trying to decide what do with all the technology that they acquired. Undoubtedly, some will abandon their rigs, selling them off on eBay for a fraction of what they paid. Fortunately, there is a better way. 

In the wake of declining GPU mining operations, blockchain-based platforms are giving GPU owners an opportunity to profit from their existing setups. 

Leonardo Render, a blockchain-powered cloud rendering service for creatives, provides its users with an ecosystem that equips them to profit from their GPU capability. The process is surprisingly simple. The Leonardo Render platform is arranged so that users (with a certain amount of GPUs) can lend their GPU in exchange for digital currency, a process not entirely dissimilar from crypto mining but with the potential for even higher revenue streams.

This scenario is a win-win for both creatives and GPU owners. 

So far, Leonardo Render is collaborating with notable companies including iQIY, a formidable comparison to Netflix in China, and VHQ, a prominent media company with contracts with some of the most recognizable brands in the world. Therefore, in addition to the cadre of independent creatives clamoring for better rendering capabilities, Leonardo Render exposes GPU holders with companies with robust rendering needs, which allows them to profit from the equipment that was used to mine digital currencies. 

Other companies are providing promising opportunities as well. VectorDash equips users to rent their excess or underutilized GPU to support AI research. In this way, AI academics gain access to coveted GPU capabilities at an affordable rate, and former crypto miners can once again profit from their technology. Meanwhile, Golem, a platform that caters to the creative arts and AI research offers a similar service.

The days of profitable crypto mining may be quickly coming to a close, but that doesn’t mean that people who invested in powerful GPU equipment are without ways to profit from their purchases. The decentralized ecosystem is adapting, producing new opportunities to thrive.

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Chinese Google Equivalent Baidu To Block Crypto Content

Chinese multinational tech company, Baidu will block cryptocurrency content on its online portals according to China Times.

Baidu will follow in the footsteps of Tencent and Alibaba who decided to put a ban on the use of digital currencies two weeks ago. China Times reported that Baidu could either restrict or completely ban all crypto related topics on their forum known as ‘Baidu Tieba’.

As we speak, the sub-forums dedicated to “digital currency” and “virtual currency” are unavailable to users. Any searches related to those keywords triggers the following statement; “This forum is temporarily closed due to relevant laws, regulations, and policies.” Although other sub-forums which link to cryptocurrencies like Bitcoin and Ethereum remain active.

Generally China have been quite strict on the the overall crypto community, including a ban place on all ICO’s. A representative of Baidu Tieba hinted that the closure of some of the sub-forums may well be due to discussions related to ICO’s and general price speculation.

He then went on to justify the closure by adding “the same with why WeChat did it,” referring to the aforementioned move by Tencent on their ‘WeChat’ messaging platform. Alibaba have also vowed to ban anyone who is found to be using their ‘Alipay’ account to conduct OTC trading of cryptocurrencies

Many believe the recent ban’s is simply due to pressure from the Chinese government in an attempt to restrict ICO speculation as well as general investments in cryptocurrencies. A number of exchanges have been closed down, or forced to move their operations elsewhere and investors from China are not per fitted to take part in ICO’s.

The rules may seem drastic but a lot of people have lost money, especially throughout the ongoing bear market in 2018, so the regulations may well be to protect their citizens.

Let us know your thoughts on the move by Baidu on social media.

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JP Morgan CIO Says Blockchain Will Replace Existing Tech

JP Morgan have a habit of making headlines within the cryptocurrency news space. This time it is JP Morgan CIO, Lori Beer whom has stated “blockchain will replace existing technology”.

Speaking at a press conference in the Argentinian capital, Buenos Aires, it was reported by Argentinian website Cripto247 beer had stated, “in a few years blockchain will replace the existing technology, today it only coexists with the current one,”

When discussing blockchain technology with Cripto247 and how JP Morgan are using blockchain technology to  “simplify the payment process and to store customers’ information related to KYC (Know Your Customer) policy.”

“We are currently following many paths. We invented a blockchain with an open code based on Ethereum. Actual blockchain technology has not yet resolved issues with privacy and scalability that we needed. We are connected to Hyperledger and Enterprise Ethereum Alliance. The application of this technology in business is more important to us than the technology itself. We are looking not only for cost reduction, but also for opportunities to develop new products.”

Beer refused to be drawn into comments surrounding JP Morgan’s position on ICO’s however she did specify that the bank only supports what is regulated when questioned about whether or not JP Morgan are open to buying or trading cryptocurrencies.

Jamie Dimon, CEO of JP Morgan famously called bitcoin a fraud before declaring that he regretted this statement. He has then went as far to state that he he optimistic about blockchain, and that JP Morgan are in fact testing blockchain and “will use it for a whole lot of things”.

In May, JP Morgan Chase filed a patent for a blockchain powered peer-to-peer payments network. While it is not certain what this will be used for, the patent does propose to use DLT (distributed ledger technology) to process payments in real-time.

IT is becoming more evident that JP Morgan will be using blockchain technology in the very near future, although we cannot say whether or not they will ever invest or offer crypto based investments to their customers.

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Bitcoin ETF | Decisions’, Dates’ & Reasons’

You are probably aware by now that the SEC have declined a further 9 bitcoin-based exchange-traded funds (ETF’s). This is a quick summary highlighting the decision’s made by the SEC, the reasons they have given so far for their decision and the remaining dates for the other pending bitcoin ETF proposals.

On August 23rd, 2018 the SEC disapproved 9 bitcoin ETF applications’ from three different companies. The 9 bitcoin ETF proposals were made up of; 5 from Direxion, 2 from ProShares and 2 from GraniteShares. All of the proposals were ‘derivative based’ and not back by physical bitcoins’. For each of the three disapprovals’ the SEC issued the same response:

“[T]he Commission is disapproving this proposed rule change because, as discussed below, the Exchange has not met its burden under the Exchange Act  and the Commission’s Rules of Practice to demonstrate that its proposal is  consistent with the requirements of the Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange’s rules be  designed to prevent fraudulent and manipulative acts and practices.”⁩

The SEC has reinforced that all the proposals submitted so far have failed to demonstrate a “resistance to price  manipulation” in a BTC derivatives market lacking in volume. The SEC has stated that:⁩

“Among other things, the Exchange has offered no record evidence to demonstrate that bitcoin futures markets are ‘markets of significant size.’ That  failure is critical because, as explained below, the Exchange has failed to  establish that other means to prevent fraudulent and manipulative acts and  practices will be sufficient, and therefore surveillance-sharing with a regulated  market of significant size related to bitcoin is necessary.”⁩

The SEC did emphasise how their decision does not provide an insight into bitcoin or blockchain technology. Rather an insight into the markets and the risks which could occur.

⁦”[The agency] emphasizes that its disapproval does not rest on an evaluation of  whether bitcoin, or blockchain technology more generally, has utility or value as  an innovation or an investment.”⁩

Because none of the proposals which were rejected intended on holding bitcoin as an asset. Rather they will have been backed by bitcoin futures. This may indicate that an ETF which is back by physical BTC rather than BTC derivatives could be more likely to be approved.

ETF Decisions | Upcoming Dates

The following are the dates of the remaining bitcoin ETF proposals.

Sep 7: Bitwise ETF First to Be Denied or Delayed

Sep 21: Direxion ETF Final to Be Approved or Denied

Sep 30: CBOE VanEck/ SolidX ETF 2nd to Be Approved, Denied or Delayed

The most anticipated decision is the one from CBOE VanEck/ SolidX, this was originally meant to be decided around a month ago. However, the SEC decided to delay their decision to late September. This caused the markets to drop further, however, they have stabilised since. The general feeling is that the decision will not be accepted, or at best be denied.

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Top 5 Cryptocurrencies Grabbing Investor Attention in 2018

What is Сryptocurrency?

Сryptocurrency is a digital currency designed to function as a medium of exchange for financial transactions. Cryptocurrencies work in tandem with Blockchain which is a secure public ledger that holds records of transactions in a decentralized way. The first
cryptocurrency that came into existence was Bitcoin. Today, it is the world’s most valuable cryptocurrency.

There are thousands of crypto coins and crypto tokens out there and each of them serves a particular purpose. This fact has made the cryptocurrency sector a new breeding ground for investors.

Why Are Investors Flocking to Cryptocurrency?

In less than a decade, cryptocurrencies have grown to become one of the world’s fastest- progressing sectors. The total market cap for all cryptocurrencies is currently at $280 billion. That figure was under $15 billion in 2017. This represents an increase of almost 2,000% in just a year. There is no doubt about it – cryptocurrency is attracting investors with the numbers. The unregulated nature of most cryptos affords them the opportunity to increase in value at unprecedented rates. Last year, the value of Bitcoin increased to $19,783 making a ton of regular investors millionaires. Other factors inciting investors to cryptocurrency include:

• Cryptocurrencies are decentralized;
• Cryptocurrency transactions are highly secure and almost instant;
• Transferring cryptocurrency does not require the participation of a third party.

It is established that cryptocurrencies are a quick and accessible source of investment. Why don’t we take a look at the top 5 cryptocurrencies garnering attention of investors?

Five Investment-Worthy Cryptocurrencies of 2018

1. Ethereum: Currently trading at around $490, some say that Ethereum is a better version of Bitcoin. A primary merit of this cryptocurrency is the fact that it allows users to digitize any form of financial/business instrument on the almighty blockchain. Given its advanced functionality, Ethereum is favored by not only investors, but the whole cryptocurrency community as well. Another killer feature of Ethereum is that it is widely used by start-up companies for initial coin offerings and developers for creating multi-purpose apps. This set of features makes Ethereum highly valuable and increases the probability that its price will go up.

In the same vein, there are a couple of improvements in place that set Ethereum ahead of other cryptocurrencies according to investors. Ethereum is well on the way to Proof of Stake, a streamlined approach to validating transactions on the network. The Proof of Work algorithm that is utilized by most cryptocurrencies consumes a whole lot of energy and power during mining. The Proof of Stake system, on the other hand, is cost and energy efficient. Once this system is in place, the price, security, and applicability of Ethereum is bound to go up.

Where to buy? Ethereum is the second largest cryptocurrency, so it can be easily found at almost any cryptocurrency exchange. Some of the most popular are GDAX, Kraken,
Bitstamp.

2. Litecoin: Litecoin is another cryptocurrency that most investors are interested in holding. The current value of Litecoin sits around $100 and investors seem to think that it will only increase. Last year, Litecoin successfully debuted its Lightning Network. As a result it takes about two-and-a-half minutes to approve a Litecoin transaction, while in the case of Bitcoin you will be waiting for nearly ten minutes.

Aside from this, investors are leaning heavily towards Litecoin due to a statement made by its founder Charlie Lee earlier this year. Charlie Lee tweeted that a huge surprise was on the way as regards Litecoin. This has definitely increased the hype and excitement surrounding Litecoin.
Other factors attracting investors to Litecoin include:

•  It is used for 30% of transactions on the dark web;
• With Litecoin, transaction fees are almost zero;
• Litecoin enjoys high trading volume, which means that it is easy to find buyers and sellers for it.

Where to buy?  Litecoin is also quite popular among investors and traders, so finding an exchange that offers it on its platform will be no trouble. Take Coinbase, Cryptopia, HitBTC.

3. Ripple: Ripple is another favorite among cryptocurrency investors in 2018. Unlike other cryptocurrencies, Ripple is still trading for less than a dollar, and it has the potential to increase in value exponentially. Ripple’s secure channel makes it a suitable pathway for the exchange of money, information and anything in digital form. Ripple has also been endorsed and adopted by banking institutions. Some of the banks currently using Ripple are;

• Axis Bank;
• Cambridge Global Payments;
• BBVA;
• Star One Credit Union;

Where to buy? If you are looking to buy Ripple, check mostly altcoin exchanges. Binance
and Bitfinex, to name but a few.

4. Stellar Lumens: Stellar Lumens come under the scrutiny of many cryptocurrency investors this year. Stellar’s scalability, speed and almost zero fees on transactions have endeared it to a large number of investors and traders. Despite being a freshman in the cryptocurrency space, Stellar has already partnered with the tech giant IBM to create a blockchain network that will unite banks worldwide. Since 2017, Stellar has managed to grow from $0.002 to $0.22. A lot of investors are definitely keeping an eye on this cryptocurrency.

Where to buy? Stellar is less popular than all the coins mentioned above and it can be bought at crypto-to-crypto exchanges mostly. One of the most prominent crypto-fiat exchanges offering Stellar for trading is CEX.IO (for a full list of supported fiat currencies check a more detailed review of CEX.IO).

5. Bitcoin: This list wouldn’t be complete without mentioning the all-powerful Bitcoin, the first cryptocurrency that was introduced to the world. Bitcoin experienced a price increase of over 2,000% last year. Although its price currently sits around $6,500, many investors believe that it is only bound to go up again. Some even predict that the price of Bitcoin can
go as high as $250,000 by 2022.

Where to buy? Any cryptocurrency exchange.

This is a guest article – To submit a guest article get in touch: contact@bitguru.co.uk

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Bitcoin ETF Decision Due Within 24 Hours

Not more than a month since the SEC decided to delay the decision on the impending bitcoin exchange-traded fund (ETF). The SEC is set to make a decision within the next 24 hours.

Following the decision by the SEC to delay the outcome of the pending proposals’ surrounding the bitcoin ETF’s, the cryptocurrency markets plunged further.

A number of bitcoin ETF applications have been submitted, the first one which was rejected by the SEC was the proposal submitted by the Winklevoss twins via Gemini exchange. A number of reasons were stated by the the SEC following this decision, although, they have asked for public feedback on bitcoin-based products such as bitcoin ETF’s, as well as publishing a letter in January pointing to “significant investor protection issues that need to be examined” before sponsors can offer these funds to retail investors.

ProShares Bitcoin ETF decision in next 24 hours

The next application in line for a decision is the on submitted by ProShares, the decision could have a huge impact on the cryptocurrency markets, whatever the decision may be.

In the last week it has emerged that bitcoin ‘short’ positions have hit record highs. This negative movement from traders has indicated that the general feeling is the decision from the SEC will be to decline the application from ProShares. Should the decision be an approval a lot of investors could be out of pocket.

“The US Securities and Exchange Commission (SEC) is set to make a final decision this week on the application from ProShares for a Bitcoin Exchange Traded Fund (ETF). And the regulator has another three to consider within the next 6 months. But not much has changed since July when the SEC rejected the Winklevoss Bitcoin ETF for the second time.  Cboe President Chris Concannon says ‘the problem with a futures-based ETF is, what is the right level of liquidity? It’s never been tested before.”

Wall Street could be joining the crypto revolution

Speculation surrounding Wall Street and cryptocurrencies continues to be at the heart of crypto markets. It is being reported that Wall Street interest in crypto is as an all time high.

Although the general crypto markets have seen an 80% decline throughout 2018, Wall Street firms are showing particular interest in bitcoin and crypto related products such as, crypto custody and asset management.

In a recent study by Sanford C. Bernstein & Co. analysts have found that strong performance on crypto exchanges combined with 2018 bear market has led to rising demand for bitcoin and crypto products from an increasing number of Wall Street firms.

“As the crypto-asset class seasons and institutional demand builds, there are a plethora of opportunities for traditional firms,” the analysts told Bloomberg.

Will Wall Street enter crypto

Because of increasing demand on cryptocurrency exchanges, like Coinbase, Binance and Robinhood, with the former launching a number of new products such as Coinbase Custody. Analysts now believe it is a matter of ‘when’ not ‘if’ as to Wall Street entering cryptocurrency markets in some way or another.

The increase demand will flow out into Wall Streety firms and they will be simply unable to not delve into the crypto markets, whether it is by creating exchanges, launching custody products or assets management ventures.

Wall Street v Bitcoin ETF

The majority of investors believe that a bitcoin exchange traded fund (ETF) is what is needed for the current bear market to reverse. A bitcoin ETF most would for certainly invite new money into the crypto markets, but most importantly institutional money. Many believe the pending application with the SEC currently from VanEck could be the key to a crypto market revival.

The SEC have however, pushed back the decision on the long awaited bitcoin ETF. Many investors have took this a s negative sign.

But how does a bitcoin ETF compare to the influence of Wall Street firms?

Lets not forget, Wall Street firms represent some of the largest firms in the world. With the largest and richest clients across the globe. Adoption from Wall Street firms would not only see a lot of new money enter, but would also take us closer to mass adoption. Which is argued as the most important thing for bitcoin and cryptocurrencies.

If we were to edge close to mass adoption then we may well see prices rise more than a new bitcoin related product launching.

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7 Premier League Football Clubs To Use Bitcoin

It has emerged that 7 teams in the English Premier League (EPL) will begin testing bitcoin as a means of payment for player transfers. Premier league football clubs to use bitcoin in order to play for new players, this is just another example as to why bitcoin could soon replace currency as we know it.

The seven teams in question are Tottenham Hotspur, Leicester City, Newcastle United, Southampton, Cardiff City, Brighton and Crystal Palace. eToro have partnered with these 7 clubs so far in an effort to explore cryptocurrency and blockchain within the football world.

eToro, who are advertising in the EPL currently, have helped set up bitcoin wallets for the clubs and helped them to make their first bitcoin payments.

Premier League Football Clubs To Use Bitcoin

The ongoing advertisement campaign being run by eToro was actually paid in bitcoin.

“We’ve done a sponsorship deal, but rather pay them in traditional pound notes we’ve paid them in Bitcoins. What they choose to do with that is entirely up to them”

These clubs have since backed cryptocurrencies and noted about its’ potential in replacing the British pound in one of the biggest industries in the world. It would certainly make international payments of a huge scale easier, quicker and more secure. However, eToro also believe that blockchain and bitcoin to help clubs tackle “tackle tickets touting and counterfeit mechanizing”

Tottenham who will be playing in the Champions League this year have stated they are also ways looking for new and innovative ways to develop and push the club forwards.

“the club is committed to technology and innovation” Frans Jones.

Meanwhile, Paul Baber, the Chief executive at Brighton said, “ the project will help us understand the true potential offered by blockchain”

This could be huge move for cryptocurrencies and will certainly put them in the public eye. Cristiano Ronaldo has recently moved to Juventus for approximately £90 million whilst the biggest transfer ever was Neymar which was around £200 million. This demonstrates just how big the football industry is.

What impact do you think this will have on bitcoin and cryptocurrencies? Let us know on social media.

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Venezuela Currency To Be Pegged To Cryptocurrency In “Questionable” Move

Nicolás Maduro, the president of Venezuela has announced that the country’s national currency, the Bolivar, will be pegged to the government’s own cryptocurrency, the Petro.

Maduro said the initial plan would involve devaluing 96%, giving it an exchange rate of  $1 USD to 6 million Bolivar. We reported back in January that the Venezuelan government will launch their own cryptocurrency, known as the ‘Petro’.

What is the Petro and the reason behind it

Recently, Venezuela has been hit with an array of different problems such as their massive hyperinflation and multiple waves of U.S. sanctions. The Venezuelan president, Nicolas Maduro, appeared on his weekly television series “Los Domingos con Maduro” (Sundays with Maduro) to announce the cryptocurrency.

The value of the cryptocurrency will be based on Venezuela’s massive reserves of oil and gas, as well as its array of gold and other minerals. The president states that the purpose of the cryptocurrency is to “advance the country’s monetary sovereignty, to carry out financial transactions and to defeat the financial blockade against the country.” Maduro believes the cryptocurrency help to “move  toward new forms of international financing for the economic and social development of the country.”

“We are facing a financial war against the country which we have denounced and the opposition has denied. There are businesspeople who are unaffected by Donald Trump‘s blockade. With this, we will join the 21st century,” Maduro added, as cited by Panorama.

Will Maduro’s plan work?

Before Maduro made the announcement it was projected that inflation in Venezuela would hit 1 million percent. However the announcement has caused outrage across the community.

Maduro states that he is certain this is a big solution which he expects to be followed by a massive increase for the minimum wage, higher corporate tax rates, and increased subsidies for gas prices.

“I want the country to recover and I have the formula. Trust me,” Maduro said on state television on Friday. “They’ve dollarized our prices. I am petrolising salaries and petrolising prices.

A grandes problemas, ¡grandes soluciones! Desde el primer minuto el juego arrancó bien, y arrancamos ganando: 4.777 millones de yuanes o 735 millones de dólares es el resultado inicial de las operaciones de intención de compra del Petro. #AlFuturoConElPetro pic.twitter.com/LoaDgj4rr1

— Nicolás Maduro (@NicolasMaduro) February 21, 2018

The above tweet translates to; Big problems, big solutions! From the first minute the game started off well, and we started winning: 4.777 billion yuan or 735 million dollars is the initial result of the operations of purchase of Petro intent. #AlFuturoConElPetro

However, the Petro has caused huge debate with many calling it a scam and the new plan to peg their national currency to the Petro is being described by some as completely “illegal”The plan is to issue a new fiat currency called the “sovereign bolivar,” which will be backed by the “petro”. However, the controversial side ion things is that the Petro does not trade, and Venezuela’s own parliament says it’s being illegally used to raise capital on the nations oil reserves.

“This is a smoke-and-mirrors operation typical of Venezuela — I’ll believe it when I see it,” said Steve Hanke, professor of applied economics at Johns Hopkins University and one of the world’s leading experts on hyperinflation. “The problem with the petro is it’s a scam, it doesn’t even trade.”

Whether this plan will be successful remains to be seen, but Venezuela and their government continue to divide opinions of economists all over the globe. Let us know your thought on social media.

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90% Of Binance Employees Are Paid in Binance Coin (BNB)

Being paid in cryptocurrency for work is a concept that is rapidly increasing in popularity. To the outside, the concept may be difficult to understand, but for those involved in cryptocurrency, especially when you work for a cryptocurrency based company, there are many benefits to being paid in cryptocurrency.

Binance, the worlds largest cryptocurrency exchange by volume is no exception.

90% of Binance employees are paid in BNB

In a recent Twitter post, Michael Arrington, co-founder of CrunchFund and former editor of TechCrunch, revealed that in a recent conversation with Binance’s founder and CEO Changpeng Zhao, commonly referred to as CZ, informed him that 90% of employees are paid in the exchanges native token, Binance Coin (BNB).

Just one of the interesting things @cz_binance told me this week at @lcx event: 90% of binance employees choose to receive their salary in BNB tokens. Smart people.

— Michael Arrington (@arrington) 18 August 2018

Being paid in cryptocurrency isn’t for everyone, but for those working at Binance, the option is clearly a no-brainer.

The benefits of being paid in cryptocurrency

Working for a cryptocurrency related project and receiving the native currency as payment for your work acts as an incentive for both the company and the employee.

Binance for example created the 200 Million BNB tokens for pretty much free and therefor paying employees with that rather than cash makes perfect sense, saving the company a fortune, not to mention the task of converting the cryptocurrency into fiat currency to pay employees in fiat should they choose to.

It may be a contributing factor in the fact Binance made over $500 million in profit in the first 12 months of trading.

The employees have an incentive to work hard to ensure the company will be a success because in theory, the better Binance performs as a company, the more the currency will be worth in the future.

Binance has been one of the best performing cryptocurrencies of 2018, holding its value much better than thousands of other contenders. The employees clearly believe in the potential the company has, and judging by the exchanges success, it’s easy to see why.

When employees need to cover living expenses, they can simply sell some of their Binance Coin for fiat since currently, living off cryptocurrency alone would be pretty challenging, though probably not impossible.

More Binance & BNB news

How you get paid in cryptocurrency

Find a cryptocurrency job online

You don’t have to work for Binance to get paid in cryptocurrency. Whether it’s full time work or simply freelancing your skills in exchange for cryptocurrency, there are many different options available, along with a variety of resources available to help you find crypto jobs online.

Check out Reddit – Reddit is a great site and can help you with many things in life, including finding a job that pays you in cryptocurrency. The most popular subreddit dedicated to helping users find cryptocurrency jobs is Jobs4Bitcoins. With around 20,000 subscribers and new posts daily, you’ll be sure to start earning cryptocurrency for your work in no time!

Cryptocurrency jobs directories – There are a number of jobs directories dedicated to finding crypto jobs online. Crypto.jobs and FindCryptoJobs.online are great online directories dedicated to the cryptocurrency and blockchain recruitment space. Companies log on, put up a listing detailing exactly the kind of person their looking for, then users can quickly apply for the position.

Online networking – Sites like Linkedin are brimming with companies looking for skilled individuals to help make their blockchain or cryptocurrency project a success. Telegram is the messaging app of choice for most crypto enthusiasts, and most crypto start ups have their own Telegram channels where you have direct access to the CEO in the majority of cases.

Write for crypto news sites – Sites like bitGuru for example, we pay our writers exclusively in cryptocurrency for articles they write for us. There is no shortage of news sites out there and the vast majority of them are likely to offer you cryptocurrency in exchange for your writing services. Simple send them an email along with some samples of your work. Some examples of other sites include Cointelegraph, CoinDesk & CCN.

Ask your current employer – You don’t have to work for a cryptocurrency related company in order to receive crypto as a wage. There are services such as BitWage which allow you to invoice your current employer your normal wage, then BitWage convert it and pay you in a currency of your choosing. “Invoice your USA, EU, or UK Employer or Client and Receive in Any Percentage in Almost Any Currency.”

Good luck finding a cryptocurrency job online and being paid in cryptocurrency! Go out there and get yourself noticed.

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Wall Street Interest in Crypto at All Time High

Speculation surrounding Wall Street and cryptocurrencies continues to be at the heart of crypto markets. It is being reported that Wall Street interest in crypto is as an all time high.

Although the general crypto markets have seen an 80% decline throughout 2018, Wall Street firms are showing particular interest in bitcoin and crypto related products such as, crypto custody and asset management.

In a recent study by Sanford C. Bernstein & Co. analysts have found that strong performance on crypto exchanges combined with 2018 bear market has led to rising demand for bitcoin and crypto products from an increasing number of Wall Street firms.

“As the crypto-asset class seasons and institutional demand builds, there are a plethora of opportunities for traditional firms,” the analysts told Bloomberg.

Will Wall Street enter crypto

Because of increasing demand on cryptocurrency exchanges, like Coinbase, Binance and Robinhood, with the former launching a number of new products such as Coinbase Custody. Analysts now believe it is a matter of ‘when’ not ‘if’ as to Wall Street entering cryptocurrency markets in some way or another.

The increase demand will flow out into Wall Streety firms and they will be simply unable to not delve into the crypto markets, whether it is by creating exchanges, launching custody products or assets management ventures.

Wall Street v Bitcoin ETF

The majority of investors believe that a bitcoin exchange traded fund (ETF) is what is needed for the current bear market to reverse. A bitcoin ETF most would for certainly invite new money into the crypto markets, but most importantly institutional money. Many believe the pending application with the SEC currently from VanEck could be the key to a crypto market revival.

The SEC have however, pushed back the decision on the long awaited bitcoin ETF. Many investors have took this a s negative sign.

But how does a bitcoin ETF compare to the influence of Wall Street firms?

Lets not forget, Wall Street firms represent some of the largest firms in the world. With the largest and richest clients across the globe. Adoption from Wall Street firms would not only see a lot of new money enter, but would also take us closer to mass adoption. Which is argued as the most important thing for bitcoin and cryptocurrencies.

If we were to edge close to mass adoption then we may well see prices rise more than a new bitcoin related product launching.

Are banks important?

In the early days of crypto it was debated that bitcoin and other cryptocurrencies will; replace the banking sector. This seems Avery tall order considering the power and influence some of the major banks have on thew world.

Realistically we are more likely to see the two work in conduction with one another. It is no secret that a number of banks across the world are actively offering crypto trading accounts and access so to crypto to their customers.

Already, some of the largest banks in the world have begun to disclosed their ongoing initiatives to serve clients interested in cryptocurrencies as an asset class.

In June, the newly appointed CEO and chairman of Goldman Sachs, David Solomon, said that they have been exploring the possibility of providing cryptocurrency-based derivatives. Whilst also revealing for the first time that Goldman Sachs have been clearing Bitcoin futures on behalf of their clients.

“We are clearing some futures around Bitcoin, talking about doing some other activities there, but it’s going very cautiously. We’re listening to our clients and trying to help our clients as they’re exploring those things too,” Solomon said.

Banks have arguably the biggest user bases, should the larger banks began to offer avenues into crypto trading then it would be a huge vote of confidence for digital currencies. This would likely see increases in the price. However, a number of banks have announced such features this year ad the markets have still declined.

Only time will tell which industries will have the biggest impact.

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Alibabacoin Foundation launches the upgraded version of their Multi-Crypto wallet

Alibabacoin Foundation has announced the launch of the updated and improved version of their well-acclaimed Multi-Crypto Wallet. Now the Android users will be able to download the wallet from Google Play Store while the iOS version will be available on App Store soon. The updated version of the wallet will come with several new and improved features to make the whole user
experience even better. The users were eagerly waiting for the updated wallet and their wait is finally over with the latest release of the Multi-Crypto Wallet.

What’s more exciting is that Alibabacoin Foundation will offer 100 ABBC coins for free to the users who download the Multi-Crypto wallet. First, 500,000 users who will download the wallet and complete the registration process in our event website after that they will be eligible to receive 100 ABBC coins in their wallet for free.

“We want to thank our faithful community who are eagerly awaiting the release and constantly monitoring our official channels for updates. We are very grateful for your continued support and patience with us”, said the spokesperson of Alibabacoin Foundation. The users also have a chance to earn an extra 20 ABBC coins by sharing the referral link provided to them after signing up. They can share the link with others and earn free ABBC coins every time someone else signs up through the link.

Alibabacoin Foundation is also organizing the KYC (Know Your Customer) event to know their audience and supporters better. This event will help the company in making improvements in their business model to provide better services and user experience. The Multi Crypto Wallet is fully integrated into the Alibabacoin Foundation blockchain platform. Using this wallet, the users will be able to store and transfer multiple cryptocurrencies including ABBC, BTC, ETH, LTC, QTUM, and DASH simultaneously.

The users can seamlessly exchange and transfer the currencies within the app without entering any password. In addition, the integrated face recognition technology provides the user with unmatched security and privacy. As of now, the Multi-Crypto wallet features only six currencies but in the near future, Alibabacoin Foundation is planning to add up to twenty coins in the wallet. ‘ Aliabacoin Foundation is excited to launch their upgraded wallet which has received positive initial feedback from the users. They sincerely thank their users for their continuous support.

More information about the Multi-Crypto wallet and Alibabacoin Foundation can be found at www.abbcfoundation.com

Follow their social media channels:
Facebook
Twitter
Or Join the community on Reddit

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