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Georgia Tombstones (Part 2) by Jayge 8^J "Project Blue Beam is a conspiracy theory that claims that NASA is attempting to implement a New Age religion with the Antichrist at its head and start a New World Order, via a technologically-simulated Second Coming. The allegations were presented in 1994 by Quebecois journalist and conspiracy theorist Serge Monast, and later published in his book Project Blue Beam (NASA). Proponents of the theory allege that Monast and another unnamed journalist, who both died of heart attacks in 1996, were in fact assassinated, and that the Canadian government kidnapped Monast's daughter in an effort to dissuade him from investigating Project Blue Beam. The project was apparently supposed to be implemented in 1983, but it didn't happen. It was then set for implementation in 1995 and then 1996. Monast thought Project Blue Beam would be brought to fruition by the year 2000, really, definitely, for sure. The theory is widely popular (for a conspiracy theory) on the Internet, with many web pages dedicated to the subject, and countless YouTube videos explaining it. The actual source material, however, is very thin indeed. Monast lectured on the theory in the mid-1990s (a transcript of one such lecture is widely available), before writing and publishing his book, which has not been reissued by his current publisher and is all but unobtainable. The currently available pages and videos all appear to trace back to four documents: A transcript of the 1994 lecture by Monast, translated into English. A GeoCities page written by David Openheimer and which appears to draw on the original book. A page on educate-yourself.org, compiled in 2005, which appears to include a translation of the book from the French. Monast's page in French Wikipedia. The French Wikipedia article is largely sourced from two books on conspiracy theories and extremism by Pierre-André Taguieff, a mainstream academic expert on racist and extremist groups. From these few texts have come a flood of green ink, in text and video form, in several languages. Even the French language material typically does not cite the original book but the English language pages on educate-yourself.org. However, conspiracy theorists seem to use quantity as a measure of substance (much as alternative medicine uses appeal to tradition) and never mind the extremely few sources it all traces back to. Proponents of the theory have extrapolated it to embrace HAARP, 9/11, the Norwegian Spiral, chemtrails, FEMA concentration camps and Tupac Shakur. Everything is part of Project Blue Beam. It's well on its way to becoming the Unified Conspiracy Theory. Behold A Pale Horse, William Cooper's 1991 green ink magnum opus, has lately been considered a prior claim of, hence supporting evidence for, Blue Beam by advocates. The book is where a vast quantity of now-common conspiracy memes actually came from, so retrospectively claiming it as prior evidence is somewhere between cherrypicking and the Texas sharpshooter fallacy. However, the following quotes, from pages 180-181, intersect slightly with the specific themes of Blue Beam: It is true that without the population or the bomb problem the elect would use some other excuse to bring about the New World Order. They have plans to bring about things like earthquakes, war, the Messiah, an extra-terrestrial landing, and economic collapse. They might bring about all of these things just to make damn sure that it does work. They will do whatever is necessary to succeed. The Illuminati has all the bases covered and you are going to have to be on your toes to make it through the coming years. Can you imagine what will happen if Los Angeles is hit with a 9.0 quake, New York City is destroyed by a terrorist-planted atomic bomb, World War III breaks out in the Middle East, the banks and the stock markets collapse, Extraterrestrials land on the White House lawn, food disappears from the markets, some people disappear, the Messiah presents himself to the world, and all in a very short period of time? Can you imagine? The world power structure can, and will if necessary, make some or all of those things happen to bring about the New World Order. “Without a universal belief in the new age religion, the success of the new world order will be impossible!” The alleged purpose of Project Blue Beam is to bring about a global New Age religion, which is seen as a core requirement for the New World Order's dictatorship to be realised. There's nothing new in thinking of religion as a form of control, but the existence of multiple religions, spin-off cults, competing sects and atheists suggest that controlling the population entirely through a single religion isn't particularly easy. Past attempts have required mechanisms of totalitarianism such as the Inquisition. Monast's theory, however, suggests using sufficiently advanced technology to trick people into believing. Of course, the plan would have to assume that people could never fathom the trick at all — something contested by anyone sane enough not to swallow this particular conspiracy. The primary claimed perpetrator of Project Blue Beam is NASA, presented as a large and mostly faceless organization that can readily absorb such frankly odd accusations, aided by the United Nations, another old-time boogeyman of conspiracy theorists. According to Monast, the project has four steps: Step One requires the breakdown of all archaeological knowledge. This will apparently be accomplished by faking earthquakes at precise locations around the planet. Fake "new discoveries" at these locations "will finally explain to all people the error of all fundamental religious doctrines", specifically Christian and Muslim doctrines. This makes some degree of sense — if you want to usurp a current way of thinking you need to completely destroy it before putting forward your own. However, religious belief is notoriously resilient to things like facts. The Shroud of Turin is a famous example that is still believed by many to be a genuine shroud of Jesus as opposed to the medieval forgery that it has been conclusively shown to be. Prayer studies, too, show how difficult it is to shift religious conviction with mere observational fact — indeed, many theologians avoid making falsifiable claims or place belief somewhere specifically beyond observation to aid this. So what finds could possibly fundamentally destroy both Christianity and Islam, almost overnight, and universally all over the globe? Probably nothing. Yet, this is only step one of an increasingly ludicrous set of events that Project Blue Beam predicts will occur. Step Two involves a gigantic "space show" wherein three-dimensional holographic laser projections will be beamed all over the planet — and this is where Blue Beam really takes off. The projections will take the shape of whatever deity is most predominant, and will speak in all languages. At the end of this light show, the gods will all merge into one god, the Antichrist. This is a rather baffling plan as it seems to assume people will think this is actually their god, rather than the more natural twenty-first century assumption that it is a particularly opaque Coca Cola advertisement. Evidence commonly advanced for this is a supposed plan to project the face of Allah, despite its contradiction with Muslim belief of God's uniqueness, over Baghdad in 1991 to tell the Iraqis to overthrow Saddam Hussein. Someone, somewhere, must have thought those primitive, ignorant non-Western savages wouldn't have had television or advertising, and would never guess it was being done with mirrors. In general, pretty much anything that either a) involves light or b) has been seen in the sky has been put forward as evidence that Project Blue Beam is real, and such things are "tests" of the technology — namely unidentified flying objects. Existing display technology such as 3D projection mapping and holograms are put forward as foreshadowing the great light show in the sky. This stage will apparently be accomplished with the aid of a Soviet computer that will be fed "with the minute physio-psychological particulars based on their studies of the anatomy and electro-mechanical composition of the human body, and the studies of the electrical, chemical and biological properties of the human brain", and every human has been allocated a unique radio wavelength. The computers are also capable of inducing suicidal thoughts. The Soviets are (not "were") the "New World Order" people. Why NASA would use a Soviet computer when the USSR had to import or copy much of its computer technology from the West is not detailed. The second part of Step Two happens when the holograms result in the dissolution of social and religious order, "setting loose millions of programmed religious fanatics through demonic possession on a scale never witnessed before." The United Nations plans to use Beethoven's "Ode to Joy" as the anthem for the introduction of the new age one world religion. There is relatively little to debunk in this, the most widely remembered section of the Project Blue Beam conspiracy, as the idea is so infeasible. Citing actual existing communication technology is odd if the point is for the end product to appear magical, rather than just as cheap laser projections onto clouds. This hasn't stopped some very strange conspiracy theories about such things popping up. Indeed, the notion of gods being projected into the sky was floated in 1991 by conspiracy theorist Betty J. Mills. And US general (and CIA shyster extraordinaire), Edward Lansdale, actually floated a plan to fake a Second Coming over Cuba to get rid of Castro. Step Three is "Telepathic Electronic Two-Way Communication." It involves making people think their god is speaking to them through telepathy, projected into the head of each person individually using extreme low frequency radio waves. (Atheists will presumably hear an absence of Richard Dawkins.) The book goes to some lengths to describe how this would be feasible, including a claim that ELF thought projection caused the depressive illness of Michael Dukakis' wife Kitty. Step Four has three parts: Making humanity think an alien invasion is about to occur at every major city; Making the Christians think the Rapture is about to happen; A mixture of electronic and supernatural forces, allowing the supernatural forces to travel through fiber optics, coax, power and telephone lines to penetrate all electronic equipment and appliances, that will by then all have a special microchip installed. Then chaos will break out, and people will finally be willing — perhaps even desperate — to accept the New World Order. "The techniques used in the fourth step is exactly the same used in the past in the USSR to force the people to accept Communism." A device has apparently already been perfected that will lift enormous numbers of people, as in a Rapture. UFO abductions are tests of this device. Project Blue Beam proponents believe psychological preparations have already been made, Monast having claimed that 2001: A Space Odyssey, Star Wars and the Star Trek series all involve an invasion from space and all nations coming together (the first two don't, the third is peaceful contact) and that Jurassic Park propagandises evolution in order to make people think God's words are lies. The book detailed the theory. In the 1994 lecture, Monast detailed what would happen afterwards. All people will be required to take an oath to Lucifer with a ritual initiation to enter the New World Order. Resisters will be categorised as follows: Christian children will be kept for human sacrifice or sexual slaves. Prisoners to be used in medical experiments. Prisoners to be used as living organ banks. Healthy workers in slave labour camps. Uncertain prisoners in the international re-education center, thence to repent on television and learn to glorify the New World Order. The international execution centre. An as yet unknown seventh classification. Joel Engel's book Gene Roddenberry: The Myth and the Man Behind Star Trek was released in 1994, shortly before Monast's lecture on Project Blue Beam: “In May 1975, Gene Roddenberry accepted an offer from Paramount to develop Star Trek into a feature film, and moved back into his old office on the Paramount lot. His proposed story told of a flying saucer, hovering above Earth, that was programmed to send down people who looked like prophets, including Jesus Christ.” All the steps of the conspiracy theory were in the unmade mid-'70s Star Trek film script by Roddenberry, which were recycled for the Star Trek: The Next Generation episode Devil's Due, broadcast in 1991. There is no evidence of deliberate fraud on Monast's part; given his head was quite thoroughly full of squirrels and confetti by this time, it's entirely plausible that he thought this was the revelation of secret information in a guise safe for propagation. However, the actual source was so obvious that even other conspiracy theorists noticed. They confidently state it was obvious that Monast had been fed deceptive information by the CIA. Of course!" -- rationalwiki.org "Serge Monast was a Québécois investigative journalist, poet, essayist and conspiracy theorist. He is known to English-speaking readers mainly for Project Blue Beam and associated conspiracy tropes. His works on Masonic conspiracy theories and the New World Order also remain popular with French-speaking conspiracy theorists and enthusiasts." -- Wikipedia "A human microchip implant is typically an identifying integrated circuit device or RFID transponder encased in silicate glass and implanted in the body of a human being. This type of subdermal implant usually contains a unique ID number that can be linked to information contained in an external database, such as personal identification, law enforcement, medical history, medications, allergies, and contact information. The first experiments with an RFID implant were carried out in 1998 by the British scientist Kevin Warwick. His implant was used to open doors, switch on lights, and cause verbal output within a building. After nine days the implant was removed and has since been held in the Science Museum (London). On 16 March 2009 British scientist Mark Gasson had an advanced glass capsule RFID device surgically implanted into his left hand. In April 2010 Gasson's team demonstrated how a computer virus could wirelessly infect his implant and then be transmitted on to other systems. Gasson reasoned that with implanted technology the separation between man and machine can become theoretical because the technology can be perceived by the human as being a part of their body. Because of this development in our understanding of what constitutes our body and its boundaries he became credited as being the first human infected by a computer virus. He has no plans to remove his implant. Several hobbyists have placed RFID microchip implants into their hands or had them inserted by others. Amal Graafstra, author of the book RFID Toys, asked doctors to place implants in his hands in March 2005. A cosmetic surgeon used a scalpel to place a microchip in his left hand, and his family doctor injected a chip into his right hand using a veterinary Avid injector kit. Graafstra uses the implants to access his home, open car doors, and to log on to his computer. With public interest growing, in 2013 he launched biohacking company Dangerous Things and crowdfunded the world's first implantable NFC transponder in 2014. He has also spoken at various events and promotional gigs including TEDx, and built a smartgun that only fires after reading his implant. Alejandro Hernandez CEO of Futura is known to be the first in Central America to have Dangerous Things' transponder installed in his left hand by Federico Cortes in November 2017. Mikey Sklar had a chip implanted into his left hand and filmed the procedure. Jonathan Oxer self-implanted an RFID chip in his arm using a veterinary implantation tool. Martijn Wismeijer, Dutch marketing manager for Bitcoin ATM manufacturer General Bytes, placed RFID chips in both of his hands to store his Bitcoin private keys and business card. Patric Lanhed sent a “bio-payment” of one euro worth of Bitcoin using a chip embedded in his hand. Marcel Varallo had an NXP chip coated in Bioglass 8625 inserted into his hand between his forefinger and thumb allowing him to open secure elevators and doors at work, print from secure printers, unlock his mobile phone and home, and store his digital business card for transfer to mobile phones enabled for NFC. Biohacker Hannes Sjöblad has been experimenting with NFC (Near Field Communication) chip implants since 2015. During his talk at Echappée Voléé 2016 in Paris, Sjöblad disclosed that he has also implanted himself between his forefinger and thumb and uses it to unlock doors, make payments, and unlock his phone (essentially replacing anything you can put in your pockets). Additionally, Sjöblad has hosted several "implant parties," where interested individuals can also be implanted with the chip. Researchers have examined microchip implants in humans in the medical field and they indicate that there are potential benefits and risks to incorporating the device in the medical field. For example, it could be beneficial for noncompliant patients but still poses great risks for potential misuse of the device. Destron Fearing, a subsidiary of Digital Angel, initially developed the technology for the VeriChip. In 2004, the VeriChip implanted device and reader were classified as Class II: General controls with special controls by the FDA; that year the FDA also published a draft guidance describing the special controls required to market such devices. About the size of a grain of rice, the device was typically implanted between the shoulder and elbow area of an individual’s right arm. Once scanned at the proper frequency, the chip responded with a unique 16-digit number which could be then linked with information about the user held on a database for identity verification, medical records access and other uses. The insertion procedure was performed under local anesthetic in a physician's office. Privacy advocates raised concerns regarding potential abuse of the chip, with some warning that adoption by governments as a compulsory identification program could lead to erosion of civil liberties, as well as identity theft if the device should be hacked. Another ethical dilemma posed by the technology, is that people with dementia could possibly benefit the most from an implanted device that contained their medical records, but issues of informed consent are the most difficult in precisely such people. In June 2007, the American Medical Association declared that "implantable radio frequency identification (RFID) devices may help to identify patients, thereby improving the safety and efficiency of patient care, and may be used to enable secure access to patient clinical information", but in the same year, news reports linking similar devices to cancer caused in laboratory animals had a devastating impact on the company's stock price and sales. In 2010, the company, by then called "PositiveID", withdrew the product from the market due to poor sales. In January 2012, PositiveID sold the chip assets to a company called VeriTeQ that was owned by Scott Silverman, the former CEO of Positive ID. In 2016, JAMM Technologies acquired the chip assets from VeriTeQ; JAMM's business plan was to partner with companies selling implanted medical devices and use the RFID tags to monitor and identify the devices. JAMM Technologies is co-located in the same Plymouth, Minnesota building as Geissler Corporation with Randolph K. Geissler and Donald R. Brattain listed as its principals. The website also claims that Geissler was CEO of PositiveID Corporation, Destron Fearing Corporation, and Digital Angel Corporation. In 2018, A Danish firm called BiChip released a new generation of microchip implant that is intended to be readable from distance and connected to Internet. The company released an update for its microchip implant to associate it with the Ripple cryptocurrency to allow payments to be made using the implanted microchip. In February 2006, CityWatcher, Inc. of Cincinnati, OH became the first company in the world to implant microchips into their employees as part of their building access control and security system. The workers needed the implants to access the company's secure video tape room, as documented in USA Today. The project was initiated and implemented by Six Sigma Security, Inc. The VeriChip Corporation had originally marketed the implant as a way to restrict access to secure facilities such as power plants. A major drawback for such systems is the relative ease with which the 16-digit ID number contained in a chip implant can be obtained and cloned using a hand-held device, a problem that has been demonstrated publicly by security researcher Jonathan Westhues and documented in the May 2006 issue of Wired magazine, among other places. The Baja Beach Club, a nightclub in Rotterdam, the Netherlands, once used VeriChip implants for identifying VIP guests. The Epicenter in Stockholm, Sweden is using RFID implants for employees to operate security doors, copiers, and pay for lunch. In 2017 Mike Miller, chief executive of the World Olympians Association, was widely reported as suggesting the use of such implants in athletes in an attempt to reduce problems in sport due to drug taking. Theoretically, a GPS-enabled chip could one day make it possible for individuals to be physically located by latitude, longitude, altitude, speed, and direction of movement. Such implantable GPS devices are not technically feasible at this time. However, if widely deployed at some future point, implantable GPS devices could conceivably allow authorities to locate missing persons and/or fugitives and those who fled from a crime scene. Critics contend, however, that the technology could lead to political repression as governments could use implants to track and persecute human rights activists, labor activists, civil dissidents, and political opponents; criminals and domestic abusers could use them to stalk and harass their victims; and child abusers could use them to locate and abduct children. Another suggested application for a tracking implant, discussed in 2008 by the legislature of Indonesia's Irian Jaya would be to monitor the activities of persons infected with HIV, aimed at reducing their chances of infecting other people. The microchipping section was not, however, included into the final version of the provincial HIV/AIDS Handling bylaw passed by the legislature in December 2008. With current technology, this would not be workable anyway, since there is no implantable device on the market with GPS tracking capability. Since modern payment methods rely upon RFID/NFC, it is thought that implantable microchips, if they were to ever become popular in use, would form a part of the cashless society. Verichip implants have already been used in nightclubs such as the Baja club for such a purpose, allowing patrons to purchase drinks with their implantable microchip. In a self-published report anti-RFID advocate Katherine Albrecht, who refers to RFID devices as "spy chips", cites veterinary and toxicological studies carried out from 1996 to 2006 which found lab rodents injected with microchips as an incidental part of unrelated experiments and dogs implanted with identification microchips sometimes developed cancerous tumors at the injection site (subcutaneous sarcomas) as evidence of a human implantation risk. However, the link between foreign-body tumorigenesis in lab animals and implantation in humans has been publicly refuted as erroneous and misleading and the report's author has been criticized over the use of "provocative" language "not based in scientific fact". Notably, none of the studies cited specifically set out to investigate the cancer risk of implanted microchips and so none of the studies had a control group of animals that did not get implanted. While the issue is considered worthy of further investigation, one of the studies cited cautioned "Blind leaps from the detection of tumors to the prediction of human health risk should be avoided". The Council on Ethical and Judicial Affairs (CEJA) of the American Medical Association published a report in 2007 alleging that RFID implanted chips may compromise privacy because there is no assurance that the information contained in the chip can be properly protected. Following Wisconsin and North Dakota, California issued Senate Bill 362 in 2007, which makes it illegal to force a person to have a microchip implanted, and provide for an assessment of civil penalties against violators of the bill. In 2008, Oklahoma passed 63 OK Stat § 63-1-1430 (2008 S.B. 47), that bans involuntary microchip implants in humans. On April 5, 2010, the Georgia Senate passed Senate Bill 235 that prohibits forced microchip implants in humans and that would make it a misdemeanor for anyone to require them, including employers. The bill would allow voluntary microchip implants, as long as they are performed by a physician and regulated by the Georgia Composite Medical Board. The state's House of Representatives did not take up the measure. On February 10, 2010, Virginia's House of Delegates also passed a bill that forbids companies from forcing their employees to be implanted with tracking devices. Washington State House Bill 1142-2009-10 orders a study using implanted radio frequency identification or other similar technology to electronically monitor sex offenders and other felons. The general public are most familiar with microchips in the context of tracking their pets. In the U.S., some Christian activists, including conspiracy theorist Mark Dice, the author of a book titled The Resistance Manifesto, make a link between the PositiveID and the Biblical Mark of the Beast, prophesied to be a future requirement for buying and selling, and a key element of the Book of Revelation. Gary Wohlscheid, president of These Last Days Ministries, has argued that "Out of all the technologies with potential to be the mark of the beast, VeriChip has got the best possibility right now"." -- Wikipedia "In this latest book Joseph P Farrell examines the subject of mind control, but from a very unusual perspective, showing that its basic underlying philosophy, and goal, is not only cosmological in nature, but that the cosmology in view is very ancient, and that mind control of any sort, from the arts to hypnosis, remote electromagnetic technologies and “electroencephalographic dictionaries” has cosmological implications." -- Microcosm and Medium: The Cosmic Implications and Agenda of Mind Control Technologies publisher's description
In case you missed it: Major Crypto and Blockchain News from the week ending 12/14/2018
Developments in Financial Services
A cryptocurrency exchange-traded product (ETP) that trades on Switzerland’s Six Exchange saw record trading volumes on Thursday and Friday last week, suggesting that institutional investors may be buying the dip in cryptocurrencies. Four major cryptocurrencies underlie the HODL ETP, including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). While HODL ETP’s one-month average daily trading is 20,000 shares, on Thursday, December 6th, and Friday, December 7th, 53,233 shares and 62.986 shares were traded, respectively.
A report published last week by global anti-money laundering policymaker, the Financial Action Task Force (FATF), indicates that cryptocurrency exchanges in the United Kingdom pose a, “low risk,” for money laundering and terrorist financing activities. The report, however, does highlight that such activities on UK cryptocurrency exchanges are an, “emerging risk,” although there is not yet enough evidence to suggest that these activities are occurring through cryptocurrency exchanges. In its report, the FATF urged UK regulators to, “Continue to develop an understanding of emerging risks (such as virtual currencies) and intelligence gaps, and take appropriate action.”
Andreas Utermann, CEO and CIO of Allianz Global Investors, called on global financial regulators to ban cryptocurrencies while speaking at a panel discussion in London. According to a report by Reuters, Utermann said, “You should outlaw it,” while participating in a panel alongside Andrew Bailey, the head of Britain’s Financial Conduct Authority. Bailey responded by saying that Utermann’s comments were, “quite strong,” before adding that cryptocurrencies have, “no intrinsic value.”
Basis, a major US-based stablecoin project, is shutting down its operations and returning most of its funds to investors, according to a report by crypto news outlet The Block. The report by The Block cited, “multiple people with direct knowledge of the situation,” in claiming that the algorithmic stablecoin project, which generated UDS$133mm of funding through private investments in April, will return funds to investors. According to the Co-Founder and CEO of competing stablecoin project Nevin Freeman, Basis’ shutdown is due to regulatory concerns around one of its token types. Freeman explained, highlighting that algorithmic stablecoins implement a “secondary token”, known as a “bond token”, to help maintain the primary token’s peg. In many cases, regulators like the US Securities and Exchange Commission (SEC) consider these secondary tokens to be securities.
Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced that it has added Circle’s US dollar-pegged stablecoin, USD Coin (USDC), to its combined Stablecoin Market. Circle, a company backed by Goldman Sachs, first released its stablecoin in September of this year. Binance’s combined Stablecoin Market features other notable stablecoins, like Tether (USDT), that trade against cryptocurrencies as interchangeable base pairs.
Coinone, a South Korea-based cryptocurrency exchange, has officially launched Cross, a cross-border payments application that leverages Ripple’s xCurrent product to increase efficiencies. The application, released by Coinone’s payments subsidiary, Coinone Transfer, targets unbanked or underbanked South Koreans by enabling the transfer of funds to Thailand or the Philippines at a low cost.
Gemini, a cryptocurrency exchange heralded by the Winklevoss twins, released an official company blog post this weekend announcing that the firm will support Bitcoin Cash (BCH) custody and trading. The exchange will support only the Bitcoin Cash ABC network at this time, adding that they, “are continuing to evaluate Bitcoin SV over the coming weeks or months, and we may or may not choose to support withdrawals and/or trading of Bitcoin SV in the future.” Additionally, the company detailed that its listing of BCH is pending regulatory approval by the New York State Department of Financial Services.
Gemini, the cryptocurrency trading platform founded by the Winklevoss twins, announced the launch of a mobile crypto trading application in an official blog post today. Accompanying the launch of the crypto trading app is a new investment vehicle, dubbed, “The Cryptoverse,” that is comprised of a basket of cryptocurrencies weighted by market capitalization. While speaking to Bloomberg today, Cameron Winklevoss said that, “A lot of our decisions have perhaps given off a perception that we’re more institutional-based. The reality of the situation is that we have a diverse customer base. And the retail story is just beginning.” The Winklevoss twins went on to detail of a goal to expand reach to Asian markets by 2019’s end.
Good Money, a US neo-banking platform, has closed its Series A investment round that generated USD$30mm led by cryptocurrency-focused merchant bank Galaxy Digital and the founder of EOS (EOS) Block.one. Good Money aims to provide a variety of banking service and certain financial instruments to US account holders while exploring innovative changes to traditional banking practices. “Modern banking is a primary driver of so many issues we as a society face – from economic inequality, institutional racism, environmental destruction to political corruption,” said Good Money founder Gunnar Lovelace. Specifically, Good Money eliminates ATM fees while offering each bank user equity in the company.
Kraken, a notable cryptocurrency exchange, is seeking to raise funding with a USD$4bn valuation for the company and a USD$100,000 investment minimum, according to CoinDesk. In an email to investors, Kraken CEO Jesse Powell wrote, “There is presently a limited time opportunity available to a very small select number of clients to purchase shares.” The email goes on to detail that the exchange will close its offer on December 16th.
OKEx, the second-largest cryptocurrency exchange by daily trading volume, will begin listing Bitcoin Cash ABC under the original Bitcoin Cash ticker (BCH), as per an official announcement Tuesday. Additionally, OKEx will change the Bitcoin Cash SV ticker from BCHSV to BSV. The announcement by OKEx comes after other notable cryptocurrency exchanges have made the same switch, including Coinbase and Gemini.
PayPal, an online payments portal, has launched its own internal private blockchain platform that will allow staff to trade and exchange tokens while generating ideas and participating in programs to foster innovation, as per a report by news outlet Cheddar. The private blockchain network, which was built by 25 PayPal employees in just 6 months, will allow employees to earn more for enrolling in learning and development programs. The PayPal tokens are not tradeable, or worth anything for that matter, outside PayPal’s blockchain.
PricewaterhouseCoopers (PwC), a big four consulting firm, is partnering with Bitfury Group, a large blockchain software and mining firm, to develop a blockchain accelerator specific to Russian businesses. As per an official press release by PwC, the partnership will leverage Exonum, Bitfury’s open source framework to build blockchain applications, for educational courses and seminars. The partnership aims to meet the, “current needs,” of PwC’s enterprise clients in Russia.
Revolut, a digital banking alternative with an in-application cryptocurrency exchange, announced that it has been awarded a European banking license. Seeking to become the, “Amazon of banking,” the license will allow Revolut to offer traditional banking services alongside its current cryptocurrency offerings to European customers. Nikolay Storonsky, Founder and CEO of Revolut, said in regards to the newly acquired license that, “With the banking license now secured, commission-free stock trading progressing well, and five new international markets at final stages of launch, we are living up to our reputation as the ‘Amazon of Banking’. Our vision is simple: one ap with tens of millions of users, where you can manage every aspect of your financial life with the best value and technology.”
Shinhan Bank, the second-largest commercial bank in South Korea, is launching a new project to implement blockchain technology in its internal processes with a goal of eliminating human error. According to a report by news outlet The Korea Times, Shinhan also recently completed a training program for its staff to increase their knowledge of blockchain technology across various applications. After Shinhan implemented blockchain technology for interest rate swap transactions on November 30th, South Korea’s second-largest bank is now aiming to apply the technology in its record-keeping process to enhance overall efficiencies.
SolarisBank, Germany’s second-largest and Europe’s ninth-largest stock exchange, is partnering with Stuttgart Exchange Group, a German fintech company, to jointly develop a cryptocurrency exchange. As per a report by Cointelegraph Germany, the joint cryptocurrency exchange venture, “is scheduled to launch in the first half of 2019.” This news comes after SolarisBank announced plans to launch a zero-fee cryptocurrency trading application this past May.
The Canadian city of Calgary is becoming the first city in Canada to launch a digital version of its local currency, according to a report by the Global News. Dubbed as the Calgary Digital Dollar, the digital currency will be exclusive to Calgary and operate alongside the country’s Canadian Dollar. Calgary-based businesses will now be required by law to accept at least 10% of a payment in digital currency, although they are allowed to accept up to 100%.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is launching a pilot of its Global Payment Initiative (GPI) to combat growing blockchain and fintech solutions, according to an official announcement last week. Currently, the SWIFT Network is used by global financial institutions to conduct global financial payments and cross-border transfers of fiat currency. Although the project is still in its early stages, the GPI pilot hopes to, “build the foundation of a new integrated and interactive service that will significantly improve efficiencies in the payments process and which will ultimately be made available to all 10,000 banks across the SWIFT network.”
The United Arab Emirates’(UAE) central bank is partnering with the Saudi Arabian Monetary Authority (SAMA) to develop a cryptocurrency to facilitate cross border transactions between the two countries, according to a report by news outlet GulfNews. In a meeting pertaining to global banking standards and regulation in the Arab region, Mubarak Rashed Al Mansouri, the governor of the UAE’s central bank, said, “This is probably the first time ever that witnesses the cooperation of monetary authorities from different countries on this topic and we hope that this achievement will foster similar collaboration in our region.” The prospective digital currency will be used by both central banks and financial institutions in the countries.
TokenSoft, a security token offering (STO) startup, has acquired a 20% stake in regulated broker-dealer Marpine Securities LLC in order to launch its own regulated broker-dealer. After acquiring the 20% stake, TokenSoft will launch its new regulated broker-dealer entity, called TokenSoft Global Markets, that will be registered through the Financial Industry Regulatory Authority (FINRA). The new regulated broker-dealer entity will allow TokenSoft to advise token issuers through every step of the Initial Coin Offering (ICO) process. Additionally, TokenSoft will now be able to legally operate in services related to insurance and management.
Tom Lee, co-founder of Fundstrat Global Advisors and a notable cryptocurrency pundit, believes that the current fair value of Bitcoin (BTC) is between USD$13,800 and USD$14,800, according to a note published on Thursday. Lee arrived at this valuation by taking into account the number of active wallet addresses, usage per account, and other supply and demand metrics. Additionally, Lee forecasted that the fair value of BTC will reach USD$150,000/coin once BTC wallets account for 7% of Visa’s 4.5bn account holders.
UAE Exchange, an exchange based in the United Arab Emirates (UAE), is partnering with Ripple to launch a blockchain-based cross-border remittances platform by 1Q2019, as per a Reuters report on Thursday. The report details further that Finablr, a payments and foreign exchange company that owns UAE Exchange, observes a high level of remittance inflows from expatriate workers in the Middle East region. “We expect to go live with Rippel by Q1, 2019 with two other Asian banks,” said Finablr CEO Promoth Manghat, adding, “This is for remittances to start with, from across the globe into Asia.”
De Nederlandsche Bank, the Netherlands’ central bank, will soon require domestic cryptocurrency providers to obtain a license from the regulator to operate, as per a report by Dutch news outlet DeTelegraaf. The Netherlands' central bank is taking these measures in the hope that it will, “prevent such cryptocurrencies from being used to launder money obtained through crime or to fund terrorism.” In order to receive a license, cryptocurrency firms must maintain Know-Your-Customer procedures and report any suspicious activity to the Dutch central bank.
Eddie Hughes, a conservative member of the United Kingdom’s Parliament, suggested that Bitcoin (BTC) should be accepted as legal tender for tax and utility payments, according to news outlet Express.co.uk. The article discusses that Hughes, who is a self-described, “crypto enthusiast with amateur knowledge,” recently met with the Royal National Lifeboat Institution, which accepts cryptocurrency donations. This news comes after the US state of Ohio announced that it would begin accepting BTC as legal tender for tax payments.
Following a case in Canadian courts that resulted in a ruling ordering mistakenly sent crypto funds to be returned to their owner, a blog post from the University of Oxford Faculty of Law is noting that there could be repercussions with the case potentially setting a precedent for lost or stolen cryptocurrency claims. The Canadian court case’s ruling will require defendant Brian Wall to return USD$370,482 worth of Ethereum (ETH) tokens to the plaintiff, Copytrack. The blog post from the University of Oxford Faculty of Law reads, ‘This precedent may have major repercussions for the enforcement of claims regarding lost or stolen cryptocurrencies,” adding that the ruling allows the plaintiff to recover tokens, “in whatsoever hands those Ether Tokens may currently be held.”
Japan’s government is considering plans to ease cryptocurrency taxes in an effort to revitalize the domestic cryptocurrency and blockchain industry. This week, Japanese Congressman Takeshi Fujimaki proposed four significant changes to taxation requirements pertaining to digital assets, which include: a reduction on the cryptocurrency gains tax from 55% to 20%; elimination of taxes on crypto-to-crypto payments; elimination of taxes on miniscule cryptocurrency payments; and an adjustment that would allow cryptocurrency investors to carry forward losses across quarters and years, effectively until cryptocurrencies are ‘cashed’ out.
Jay Clayton, Chairman for the United States Securities and Exchange Commission (US SEC), said during a speech that Initial Coin Offerings (ICOs), “can be effective,” for fundraising, but that, “securities laws must be followed.” Clayton went on in his speech to comment on the US SEC’s work regarding distributed ledger technology (DLT), digital assets, and ICOs, saying that it is an, “area where the Commission and staff have spent a significant amount of time,” and, “that this trend will continue in 2019.”
Jay Clayton, the Chairman of the US Securities and Exchange Commission (SEC), expressed his optimism for distributed ledger technology’s potential impact on traditional financial markets in a testimony before the US Senate Committee on Banking, Housing, and Urban Affairs yesterday. According to a transcript published on the SEC’s website, Clayton said, “I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street Investors.” Additionally, Clayton highlighted that the SEC is, “Focusing a significant amount of attention and resources on digital assets and initial coin offerings (ICOs).”
Maxim Akimov, the Deputy Prime Minister of Russia, announced that no significant changes will be made to the draft of a bill concerning cryptocurrency regulation in the country, as per news outlet Finmarket. The bill was already approved by Russia’s parliament, the State Duma, in May 2018, although the bill has generated substantial discussion since. Since approval of the bill, all cryptocurrency and token-related terminology have been removed and replaced with the term “digital rights”. At the beginning of December, Pavel Krasheninnikov, Chairman of Russia’s State Duma, said that the bill needed to be, “significantly,” changed.
Pan Gongsheng, a deputy governor of the People’s Bank of China, highlighted that Security Token Offerings (STOs) in China are illegal while speaking at a summit in Beijing. As per a report by news outlet the South China Morning Post, Gongsheng told the summit that, “illegal financing activities through STOs and ICOs were still rampant in the mainland despite a nationwide clean-up of the cryptocurrency market last year.” In citing reasoning for the continued ban on STOs, Gongsheng explained that, “Virtual money has become an accomplice to all kinds of illegal and criminal activities.”
Pantera Capital, a blockchain and cryptocurrency-focused investment firm and hedge fund, is warning investors that as much as a quarter of their ICO project could potentially be violating US securities laws, according to a Bloomberg report. In a newsletter to clients, Pantera Capital warned, “While we believe the vast majority of the projects in our portfolio should not be affected, approximately 25% of our fund’s capital is invested in other projects with liquid tokens that sold to US investors without using Regulation D or Regulation S”
Russia has no intention of implementing Venezuela’s state-backed digital currency, the Petro, into commercial operations, according to a report by news outlet RIA Novosti. While speaking to reporters this week, Russian Deputy Finance Minister Sergey Storchak said, “Representatives from our tax service and central bank... got acquainted with the cryptocurrency Venezuela is introducing,” adding, “But no more than that. As for payments, they’re not happening yet.”
South Korea’s representative body, the National Assembly, held its first official meeting with seven of the country’s largest cryptocurrency exchanges on Monday. The purpose of the meeting was to debate cryptocurrency regulation between stakeholders of South Korea’s cryptocurrency industry. Cryptocurrency exchanges Bithumb, CobitCoin, Coinone, Upbit, Gopax, Coinplug, and Hanbitco were among the attendees of the debate, which reportedly focused on Anti-Money Laundering (AML) customer protections and Know Your Customer (KYC) procedures.
The United Kingdom’s Financial Action Task Force (FATF), an intergovernmental financial security body, is calling on the country’s government to increase monitoring of cryptocurrency markets. According to an official report last week, the UK must overhaul its Anti-Money Laundering (AML) and combat terrorist financing (CFT) efforts in order to prevent illicit activities with cryptocurrencies. “Virtual currency exchange providers are not yet covered by AML/CFT requirements,” the report details, adding, “this is an emerging risk and there is not yet evidence to suggest that broad scale ML/TF is occurring in the UK through this relatively small sector.”
The United States Commodity Futures Trading Commission (CFTC) is interested in learning more about the Ethereum (ETH) network, its technology, and the markets build around it. On Tuesday, the CFTC published a Request for Input (RFI) that requests the public’s feedback on different questions concerning Ethereum. The RFI explains that its goal is to inform the CFTC about Ethereum and similar emerging technology, saying, “The input from this request will advance the CFTC’s mission of ensuring the integrity of the derivatives market as well as monitoring and reducing the systematic risk by enhancing legal certainty in the markets. The RFI seeks to understand the similarities and distinctions between certain virtual currencies, including here ether and bitcoin, as well as ether-specific opportunities, challenges, and risks.”
The United States Securities and Exchange Commission (US SEC) is ordering that cryptocurrency asset manager CoinAlpha Advisors LLC pay a USD$50,000 fine, alleging that the firm conducted an unregistered securities sale. After forming in October 2017, CoinAlpha raised more than USD$600,000 from investors to invest in digital assets. In an official release, the US SEC said that CoinAlpha did not file a Notice of Exempt Offering of Securities, meaning that the firm breached securities laws by soliciting securities investors. Additionally, the firm allegedly did not adhere to proper know-your-customer procedures to verify that investors were accredited.
Venezuela is reportedly beginning to convert its citizens’ monthly pension payments into Petros, Venezuela’s controversial state and oil-backed cryptocurrency, according to a report by local economics blog the Caracas Chronicles. The conversion of Venezuelan pensioners’ payments into Petros came after the country already sent pensioners their monthly payment in the form of a check for Venezuelan Bolivars -- normally, upon receiving their check, pensioners would deposit their funds into a bank account where they could then withdraw fiat from local branches. The Venezuelan government, however, converted pensioners’ fiat payments into the Petro upon their deposit into a bank. In the first few weeks of the Petro’s existence, its value has risen from 9,000 to more than 15,000.
Warren Davidson, an Ohio Congressman and notable advocate of blockchain and digital assets, is floating blockchain technology as a solution to fund US President Donald Trump’s prospective US-Mexico border wall. While interviewing with NPR, Congressman Davidson suggested, “the American people, or whomever should choose to donate,” could pay for the border wall, adding, “you could do it with sort of like a crowdfunding site or you could do a blockchain and you could have WallCoins.”
“The long-term value of Bitcoin (BTC) is more likely to be USD$100 than USD$100,000,” says Kenneth Rogoff, a former Chief Economist for the International Monetary Fund (IMF) and the current Harvard University Professor of Economics and Public Policy. While writing an article for major UK news outlet The Guardian, Rogoff highlighted that, because BTC’s use is limited to transactions, it makes the digital asset more vulnerable to a bubble-like collapse. Rogoff also cited that BTC’s energy-intensive verification processes is, “vastly less efficient,” than systems that leverage, “a trusted central authority like a central bank.”
A new report by PeckShield, a blockchain security company that monitors various cryptocurrency ecosystems, details that decentralized applications (DApps) on the EOS (EOS) blockchain have lost as much as USD$1mm in hacks since July 2018. The report details further that DApps on the EOS network have sustained 27 breaches since July, which are responsible for the up to 400,000 EOS that have been compromised from hacks. Guo Yonggang, a blockchain security expert cited in a report on the matter by crypto media firm Blockchain Truth, believes that the hacks can be attributed to security problems with the DApps themselves, rather than with the EOS network.
A new study published by the Cambridge Centre for Alternative Finance on Wednesday finds that the number of unique ID-verified cryptocurrency users nearly doubled in in the first 3 quarters of 2018. The study details that total ID-verified users increased to 35mm in the first three quarters of 2018 from 18mm at the end of 2017, representing an increase of 94%. As per an analysis of the study by Bloomberg, the growth of crypto’s userbase despite the market decline, “could signal that an eventual recovery could be coming.”
Amid the continued cryptocurrency sell-off, only two cryptocurrency mining machines remain profitable, according to real-time data from ASICMinerValue.com. ASICMInerValue.com, which calculates the profitability of Application-Specific Integrated Circuit (ASIC) miners, indicates that only indicates that only the Ebank Ebit E11++ and ASICminer 8 Nano 44Th mining models are profitable for mining cryptocurrencies based on the SHA-256 hash function -- notable cryptocurrencies like Bitcoin (BTC) and Bitcoin Cash (BCH) use this has function.
Bitmain, a large Chinese cryptocurrency mining firm, announced that it is closing its development center in Israel, citing current cryptocurrency market conditions. In closing Bitmaintech Israel, the crypto mining giant was forced to fire all 23 employees. Among the employees let go is Gadi Glikberg, head of Bitmain’s Israeli branch and Vice President of International Sales, who said on the recent market turmoil, “The crypto market has undergone a shake-up in the past few months, which has forced Bitmain to examine its various activities around the globe and to refocus its business in accordance with the current situation.”
Busan, a major South Korean city, will be the beneficiary of the South Korean government’s plan to spend 4bn Korean won (USD$3.5mm) to establish a blockchain-enabled virtual power plant (VPP). As per a report by South Korean news outlet Yonhap News Agency, the project will be angled as a national competition in 2019, hosted by South Korea’s largest electric utility, Korea Electric Power Corporation (KEPCO). The VPP will integrate the idle capacities of multiple energy resources through a cloud-based distributed ledger in order to optimize power generation and decrease costs.
Church’s Chicken, a large international fast food franchise, is partnering with Dash Venezuela to accept cryptocurrencies in its Venezuelan locations. According to an official press release, 13 Church’s Chicken establishments will begin accepting Dash (DASH) as payment following, “extensive and rigorous days of training,” staff to understand cryptocurrencies. With the addition of Church’s Chicken, more than 2,200 establishments in Venezuela accept DASH as payment.
Crypto.com, a Hong Kong-based cryptocurrency payments platform, announced the appointment of former PayPal executive Tyson Hackwood to serve as the firm’s Vice President and Head of Global Merchant Acquisition in an official press release today. Crypto.com aims to increase cryptocurrency adoption by both merchants and consumers through their point-of-sale (PoS) transaction terminals. Crypto.com CEO Kris Marszalek believes that Hackwood will be integral in furthering this goal, saying, “As we develop the Crypto.com Chain to fulfill the current industry need to pay and be paid in crypto, Tyson will play an important role in expanding the number and quality of merchants that are part of our network.”
Hyperledger, a notable blockchain consortium, is continuing its robust expansion after announcing the addition of 16 new members at the Hyperledger Global Forum in Basel, Switzerland. Among the notables to join the consortium are, Alibaba Cloud, Citigroup’s Citi Ventures arm, and Deutsche Telekom. The latest addition of 16 members brings the total membership of Hyperledger to more than 260 different companies. In a public statement, Hyperledger Executive Director Brian Behlendorf said that, “The growing Hyperledger community reflects the increasing importance of open source efforts to build enterprise blockchain technologies across industries and markets. The latest members showcase the widening interest in and impact of DLT and Hyperledger."
Jeremy Henrickson, the former Chief Product Officer at Coinbase, has departed the US-based cryptocurrency exchange after serving since July 2016. “Jeremy’s contributions to Coinbase over the past two years were invaluable,” said a Coinbase spokesperson, adding that, “he helped to build our scrappy startup team into a high-functioning product and engineering organization -- overseeing a 5x+ growth of the team.” Henrickson’s departure comes after long-term Coinbase executives Adam White and Hunter Merghart left the US-based cryptocurrency exchange in recent months.
LinkedIn’s, “2018 U.S. Emerging Jobs,” report released on Thursday ranks the role of blockchain developer as the fastest growing job in the United States. The report by LinkedIn indicates that blockchain developer jobs have increased 33-fold in the past 12 months alone. San Francisco, New York City, and Atlanta are among the cities with the highest demand for blockchain developer jobs.
Orbs, a unique hybrid blockchain platform, raised more than USD$15mm in cryptocurrencies to fund its development of a public blockchain, according to a company blog post. South Korean application provider Kakao lead the fundraising efforts with a representative telling CoinDesk that the company, “always seeks to invest and support innovative startups, and Orbs is a good example.” In total, Orbs raised 139,000 Ether (ETH) and 892 Bitcoin (BTC), amounting to roughly USD$15.4mm. Orbs aims to build a public blockchain with this funding that is, “universal,” and, “scalable,” for decentralized applications (DApps) with the, “liquidity of a base layer.”
Samsung has reportedly filed patent applications for three different blockchain-related trademark requests that all pertain directly to smartphones, according to news outlet Galaxy Club. Specifically, the patents named “Blockchain KeyStore”, “Blockchain Key Box”, and “Blockchain Core” all pertain to cryptocurrency custody capabilities on smartphones. This news comes amid the release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, both of which are being marketed as blockchain smartphones with cryptocurrency custody capabilities.
Community-led Discord AMA Transcript - October 12th, 2018
On October 12, our CEO - Marshall, Director of Product - Patrick, Director of Business Operations - Kristal, and Senior iOS Engineer - Ephraim stopped by the community-led Discord channel to answer your questions. Here’s a transcript of the questions and answers.
meakkineni: Can you give us some Crumbs stats? Like the number of downloads, total amount managed by Crumbs etc
Patrick: Unfortunately cannot go into detail but we are into the thousands of users.
meakkineni: From the jobs postings looks like you are recruiting more people for Crumbs. Can you tell us about some of the exciting new features that are going to be implemented?
Patrick: Expect to see on-demand purchase of crypto bundles, mainnet deposits and withdraws, integration with Metal Pay, and more coins! Over the coming months, we plan to offer lower fees for MTL holders, unlock features, and more!
Abu: Is Crumbs going to include any gamification aspects in the future? How is the marketing strategy for Crumbs differ from pay?
Patrick: Yes, we will add an element of gamification in the future, the current focus is user acquisition Marshall: Yes big surprise coming here, but I'll save that one for later. the marketing strategy will be closely tied together for both apps as they are tied together, and you will see this from a technical and feature perspective as time progresses
On Metal Pay…
red: How come we don't have referrals yet? Are we holding the feature back for some reason?
Ephraim: Referrals is one of the most exciting features we have in the works, because not only is it a technical challenge on both front-end and back-end, but it also introduces a new way to earn Pop. In fact, we’re just about wrapping up and finalizing the details for this feature, while making plans to translate the tech to support even more ways to earn rewards in the app. Something to look out for in version 1.1.0 😏
flumpson: My biggest hurdle in getting people to sign up is that their bank doesn’t work. In my case it was Citi. When will there be router and account number signup for people who aren’t served by plaid?
Ephraim: Currently the app integrates Plaid, a bank-linking SDK that supports over 90% of U.S. banking customers and is used by some of the biggest names in FinTech. We are aware however that online banking is required with your financial institution, and one way around that is routing/account number input. This feature is on our roadmap as a new service that will verify your account via micro-deposit. TLDR; it’s definitely coming!
Mondo: How do you see Metal Pay taking market share from the more popular apps like Venmo and CashApp? What will convince new users to switch over?
Marshall: I really believe through innovation, amazing user experience and specifically the value proposition to users on new behaviors and new technology. Specifically, I believe PoPP and the interactions with crypto to be completely new behaviors that the mass market is yet to be introduced to. Being paid (currency not points) for making a payment? I think this is a new concept and one that Metal owns. What will convince them? This is the hard question. A viral campaign that gets our apps out there, with proper messaging and the right endorsements I believe is key. Finding the viral loop, increasing our K factor (number of invites that every new user brings). When I started this company I recognized that design, user interface, user experience, incentives, and proper information were the biggest holes in cryptocurrency. We are hitting on all of these pieces.
Mondo: “A viral campaign that gets our apps out there, with proper messaging and the right endorsements I believe is key. Finding the viral loop, increasing our K factor (number of invites that every new user brings)" - is there an estimated date for this campaign? I'm sure your community would love to help where possible as well.
Marshall: We are in the process now of smoke testing our campaign strategies, and we will certainly be involving the community as we begin.
biyamin: "I am not okay putting my social security number in [Metal Pay]. Is there another way?"
Ephraim: This is one of mostly heard feedback, and we’re aware of the friction it can cause among new users. However, it is due to our financial partners' requirements, U.S. law, and FDIC insured Cash balance (we create a bank account on behalf of users) that prompt us to ask for SSN during on-boarding. Rest assured, we have a plan in placed to make onboarding as streamlined as possible, especially when SSN no longer serves as a fool-proof means of identity verification, due to recent security breaches by large firms. Finally, we have in our roadmap to allow users onto the Metal platform with limited KYC. Marshall: Yes in the future you will be able to skip over this requirement, however linking in personal information will make you eligible for PoPP (this serves as the anchor), without it you won't be able to access those rewards and some special features like having a bank account with us.
jake_eisenberg11: When will Metal Pay release in New York happen?
Marshall: This is a tough one, it will happen upon one of two things coming to fruition. An exchange partner joins us who has a Bitlicense and will deeply integrate their back-end with us or us acquiring our Money Transmission License for NY and the accompanying Bitlicense (which if this is the case will take at least 1 year). That being said we're shooting for the former obviously, a partner to help us fast track and we've got a few in the pipeline
[A bunch of different people]: When will Metal Pay release in [insert location here]?
Kristal: I can assist with all the WHEN will Metal Pay release in MY STATE or COUNTRY. We have no firm timelines on either, but we are pursuing all states and expanding to Europe/Asia simultaneously… Ditto for Crumbs.
Jan: Quick one - Metal Pay debit cards?
Marshall: VERY SOON, it's next up on our feature roadmap
redruggles5: Really excited about Metal Pay for merchants, particularly micro-business. Are you able to tell us how that will look and where in the timeline that is? Do you have plans to integrate with current bookkeeping software like QuickBooks, plans for accepting credit cards/integration with Pay, etc? The biggest objection I get is in regards to integration with their current system, the ability to accept cards, addition of QR codes or another private way for customers to pay besides their phone number. Lastly, will there be a separate referral system for merchants?
Marshall: We are very excited as well, in terms of merchants we are going to start with the integrations into existing POS. Integrating with QuickBooks and Intuit are a must for crypto record keeping for S/M/L business, we have ambitious plans for this. Referral system for merchants via consumer - YES.
ekasu: Is there a possibility to increase the Metal Pay bank transfer speed (from 1 day or so currently to within the same day like Venmo) to increase competitiveness/attraction?
Marshall: Yes with Instant ACH for US customers, a feature we will be adding and is in the PF board on Jira
Bitcoinbella: Are there any plans for retail stores to use Metal yet?
Marshall: Yes, a big part of our plan of attack here is to launch first with the debit card so we can go anywhere Visa/MC is accepted. The next step is to go after small business with technical integrations through payment partners as well as simple QR codes at the register similar to Wechat/Alipay (China really inspires me). Technical integrations - this means WooCommerce, WordPress, Shopify, Authorize.net, etc, and for physical brick and mortar stores working directly with processors (lots of them see Square as a threat and are much larger, eventually Square will go to cut out interchange and stick it to the credit card companies, many partnership opportunities abound)
jake_eisenberg11: When cannabis merchant service?!?!?!
Marshall: We have pivoted away from high-risk merchants, that being said crypto is like cash and is permission-less. The bank poses no restrictions on what you do with cash withdrawn from the ATM unless you are doing something that could be considered illegal or pose harm to the bank. Very similar to us, replace paper cash with crypto.
ekasu: What is the deadline looking for these features: (a) transfer Metal to erc20 wallet/Metal vault; (b) use Metal Pay with merchants
Marshall: Mainnet deposit/withdrawal early end of this year or January. Metal merchants will kick off with our card integration for consumers, integrations for Merchant will start next year (upon hiring more developers) Glenn very early on built a very cool WordPress plugin for WooCommerce. These integrations for WP, Shopify, etc will come first and most likely early in 2019.
meakkineni: Looking at things so far, I have a feeling that PoPP score implementation has barely started. What is the time frame we are looking for it to go live?
Marshall: PoPP score is implemented just not integrated into the UI, this is a high priority one for us.
Decoder1: There's been talk about making the MTL token more prominent in both Crumbs and MetalPay. Some things which have been mentioned are discounted fee's, moving it to the top of the buy list, unlocking special features and obviously the increased POPP score which has already been confirmed. Are these still in the works or have they been shelved? If so are there any other bonus features Metal are considering?
Marshall: I'm really looking forward to adding these additional features to highlight the special function of MTL inside the Metal ecosystem of apps. Some things that have not been talked about yet are early access on special features for users with a MTL balance, gamified features to unlock surge PoPP, partner integrations and more.
NilesCrane: What will be the utility of the MTL token when other tokens are available to be popped? What will being the 'native currency' for the Metallicus apps involve and why would you expect this to drive the token price higher when other tokens are available in the same network? kt: When will we start to see some other utilities for the MTL token through pay and Crumbs etc, other than the existing PoPP mechanism, and what are they likely to be?
Ephraim: We have a grand vision of how Metal and Pop will play a role in your daily experience on the Metal platform. Although we can’t go into too much detail into the features we have in our roadmap, we can say that MTL token will be an essential part of the Metal platform and overall ecosystem. Earning Pop when making payments is the stepping stone to realizing this vision, as we become the best, most rewarding, and user-friendly payments/crypto platform on the market.
Deaethtofiat: Will Metal's [ticker] still be changing?
Marshall: That [$XMT] is something we want to do upon announcing our mainnet chain.
Tblgu: Did Metal pay a fee for Bittrex relisting?
Kristal: Simple answer is no. We haven't seen any American-based exchanges charging for listings, and we believe the Bittrex re-listing was based entirely on the merits of our company.
marc0o: I know it might take a while until Metal reaches Europe. My favorite and IMO very promising exchange (Lykke) often gets the question whether PayPal can be used to deposit EUR or FIAT in general. Do you think it would be possible and useful to partner up with exchanges to provide FIAT deposits/withdraws?
Marshall: Yes we absolutely do and are talking to top exchanges right now, there are so many exchanges that are crypto/crypto only and we think we make a very nice fit for an integration to be the onramp/offramp, p2p payments, spending and link to the merchant world. This is a critical part of our business model and so far we are seeing HEAVY interest.
lemme: Why is Metal selling so much $MTL from the operational pool for such a low price?
Marshall: Selling and spending are two different things, so I think one of the assumptions is that selling = spending which is not the case. Yes, we are selling MTL to fund our operating bank, but not spending it at the rate that we are selling it. We are doing this because of three reasons: (1) We raised a very small amount last year to build out our apps (which arguably we have delivered) $3m vs most crypto startups raising $20m+ and we have delivered much, much more. (2) We need to demonstrate a full year of burn in the bank account to close the audit. (3) We need to close the audit to retain our money transmission licenses to get all fifty states, Europe as well, in addition to certain features like in app-exchange that we do directly. We're actively growing the company and as soon as we close Series A we will stop selling and focus on accumulating (not only MTL, but certainly as much MTL as we can get our hands on while diversifying).
ekasu: How likely is that more MTL is taken out of the operational pool in the short term, which can decrease the price much more?
Marshall: MTL will be taken out of the operational pool until the successful closing of our financing round which we are in the process of right now
meakkineni: Have you come up with any other significant use cases for MTL apart from BNB style use case in Crumbs and building a better PoPP score?
Marshall: Yes, and you will be hearing more about that as we plan to release an updated paper showcasing the fully decentralized aspects of the chain we are building.
marc0o: I hope I remember it right. A while ago Marshall talked about Metal being a service targeting people that do not have a bank account. Is this still on the roadmap?
Marshall: Yes it is. I know it may not appear that way right now but I firmly believe a good product keeps a narrow execution and a large vision. So the first part of the network and what will eventually become decentralized is starting on the equivalent of testnet or centralized (this is not too different than Bitcoin or Ethereum in the early days). We’re starting with linked bank accounts and moving to keep that as an option that people can skip over and opt to choose a stable coin, all while creating a Metal profile and [obtaining a] PoPP score.
Parker: Would Metal consider doing token buybacks (a la BNB)? Are they even legal in the U.S.? Could doing so make Metal a security?
Marshall: As a company, we will buy different cryptocurrencies at different times depending upon the market situation, buying MTL is something that we will do, as far as any guarantee to x amount being bought back per quarter or percentage of profit, that is most likely indefinitely off the table for a US company.
CryptoSheffield: Do you “own” the PoPP concept?
Marshall: We own trademarks yes, the first mention of media and are working on a provisional patent. This type of thing is very hard to get a patent for even harder to defend right now.
Future: Some people noticed Sid no longer on the website. Has he moved on? If so what's the story there?
Kristal: Sid put together some beautiful designs and helped shape and create the early stages of Metal until it's launch. As we move into the next stage of post-launch, we amicably parted ways with Sid and wish him continued success wherever he goes. As a company, we're on the hunt for a Principal Designer to continue our progress on great design and user interface, to push us into the next phase of our product. Marshall: I'd also like to add design is incredibly important to me and the reason I hired Sid. If you follow my work from my first crypto/fintech startup I've always been a stickler for amazing user experience and design, specifically with Metal I'm going above and beyond and creating what I believe to be a work of art, something that will be on showcase in the Moma in 20 years from now on a design exhibit.
SciGuy: You guys still thinking of launching in Korea? Of all the places, this is where I'm actually going to be paying very close attention. Korea loves crypto.
Marshall: BIG TIME. We want to enter the Korean market ASAP as we know we have quite a few fans there. The goal is to quickly enter the international market by the end of this year. Now that Nebula is working the next hurdles are bank/FI partners, licensing, localization and marketing (its more complicated than that but those are the critical pieces to expansion). Keep in mind we will be allowing anyone in the world to sign up in the future and skip bank while choosing a stablecoin as their "bank" fiat choice. This goes back to the unbanked question. If we just release a crypto wallet and say tada we've banked the unbanked... have we really? I'm serious when I say it. And you can see it in the progression with our products and the vision. Gotta link existing banked citizens along with merchants and unbanked, they all must be in the same ecosystem. Otherwise, the dream can't become a reality.
andrea: I would like to ask about timing. I remember there was a talk about things that could be done before EOY such as new crypto implementing PoPP; debit card, series A round.
Marshall: Yes, I'm happy to say this is all on track. In terms of fundraising round, I believe the missing link for us is demonstrating user growth and b2b client acquisition, something we are working on fiercely right now. One of the things I saw in Dogecoin community that was really awesome was the involvement of the community in viral campaigns (especially for good) such as NascaJosh Wise, Doge for water, Sending the Jamaican bobsled team to the Winter Olympics.
nofomo: Anything you can share about things to look forward to before EOY? Any big partnerships, etc.? From a marketing perspective, are there ways that MTL can showcase or communicate SEC compliance more? Not to flaunt it, but as people scramble out of bad projects/Tether, etc., it might help to get more info out there. When Desk, and can we expect to see USD/MTL pairs?
Marshall: We have quite a few new features coming: PoPP in under ten minutes always, PoPP notifier so you can know if a payment is PoPP eligible, API for other companies (exchanges, cryptos, FIs), adding more cryptos for PoPP funnel, buy functionality, mainnet deposit/withdrawal. Partnerships we have a few big ones in the pipeline 😉 In terms of compliance I think our actions speak louder than words, we operated very differently than 99% of the other companies in the space and focused heavily on compliance in a rapidly evolving landscape. We were chastised initially for keeping the token offering private and to accredited but in the long run this was the correct way to operate and we're seeing that now. Desk/Vault is postponed until next year as we have more than enough to conquer right now on Pay/Crumbs... USD/MTL pairs, soon!!! Not just with us, but on other exchanges we anticipate.
meakkineni: Has any other banks shown interest in Metal lately?
Marshall: Yes, a few big ones, as well as smaller tier 2 banks
meakkineni: Is there any tangible benefit Metal has gained so far by sponsoring Necker Cup?
Marshall: Yes, quite a bit with partners we are in talks with now, in addition to bringing in investors in our next financing round... Not to forget influencers!
cryptoandcannabis: Is there any institutional support for Metal being shown, even in preliminary stages? Now that traditional asset custodians such as Fidelity are in the mix maybe MTL can become a slice of people's crypto asset class
Marshall: We are starting to see interest from the big custodians in the space, very exciting times. Fidelity recently entering has really helped this, in addition, several trust companies are opening up.
On Metal Blockchain…
1Chance: Will [Metal] consider supporting any of the stablecoins?
Marshall: Yes, all of the good ones we will be supporting.
Yannik: Will be some parts of the new Metal Blockchain open source? And based on Stellar?
Marshall: Yes it most certainly will be open source and anyone can connect to our public network. Based on Stellar? Where are you getting this information? 😛
Québécoiserie: Are you working on Metal Blockchain now or has it not started yet?
Marshall: We are in the very beginning phases and testing the assumptions for PoPP on our centralized back-end. Additionally, we are in the process of raising a funding round, The Metal Foundation will be running the open source initiative when we launch it next year.
Decoder1: There is a lot of talk about a Metal blockchain - this sounds exciting but also quite ambitious because it can take years to achieve the fine tuning and security required to develop a new blockchain. Would it be PoW? PoS? Wouldn't it be easier to build a side chain on Ethereum like Loom, or build something on Cosmos SDK to take advantage of existing layer 1 security solutions? If you plan to one day PoPP with other tokens Cosmos might be a good idea. My concern is that with a small team and many things like Desk, Merchant, revamped Vault, new features on the App, Android, new regions, that Metal might be biting off more than it can chew. So if you could elaborate more on these plans that would be great!
Marshall: This is a correct assumption and we are already doing a lot, there is a reason we have put Vault/Desk on hold while we focus on Crumbs and Pay. In terms of the blockchain side, we are staying agnostic and specifically with the consensus mechanism we are looking at lots of options. We will, without a doubt, be leveraging other chains for interoperability. Jae Kwon is a good friend of mine and I think Cosmos has a lot of potential (I'm an investor full disclosure), I also look at the work that has been done with Komodo leveraging the bitcoin blockchain, I find this very interesting as well. The idea here is that this will be a non-profit initiative under The Metal Foundation and not directly intertwined with Metallicus Inc. the private company.
meakkineni: Lately we have been talking more about Metal Blockchain than Metal Merchant. Has the focus shifted?
Marshall: The focus has not shifted, one of the things that did change from the inception of the project until now is that we've decided to stay away from re-inventing POS and merchant software, we feel that it is better to partner with processors than try to replace them ala Square
Sporklin: I did warn I came with a vital question. @Marshall Shoes, you are known in the crypto space for having good taste in clothes. What is on your feet at the moment?
Hello! My name is Daria Volkova and I am the Head of Platinum Legal Department. Our team believes that these are exciting times for the crypto market. We supported more than 100 clients, created and promoted their STO and ICO campaigns, got from an idea to funding in a matter of 2.5 months! See the full list of our services: Platinum.fund We are more than proud to present our education project. The UBAI can help you to learn specifics about cryptocurrencies and blockchain technologies. Learn all about ICO avenues and opportunities, plug into the world of trading cryptocurrency markets, become an expert in scam projects, promoting ICOs and STOs, launching your own campaigns and many more! What are the different cryptocurrency regulations in major countries? Find the answer after reading this article. Cryptocurrency Regulations across Major Countries Cryptocurrency and the blockchain industry may seem sufficiently exciting and attractive to you now. After all, you are taking the time and effort to study this course. You may be planning to work in cryptocurrency and the blockchain industry. Of course, we want to encourage you and help you proceed toward your goal. But it is also important you understand the regulations guiding the blockchain industry to help keep yourself out of trouble. This year, in particular, seems to be the year in which a lot of countries are looking to finally coalesce the regulations relating to the blockchain industry into a workable legal framework. Some countries are more accommodating to cryptocurrency and blockchain technological innovations while others are still more cautious. We will examine how each major country is forming their own regulatory framework for the blockchain industry. Canada Cryptocurrencies are not considered legal tender in Canada. This was clearly expressed by the country’s Financial Consumer Agency (FCA). Canada, like the US, has yet to clearly define or legislate a framework surrounding cryptocurrencies. But Canada still appears to be among the most transparent of countries for the nation’s interpretation and enforcement of the law surrounding cryptocurrencies (aside from Switzerland). For the time being, Canada has clearly stated its reluctance to adopt cryptocurrency as a legal tender, due to its high volatility. “ “The United States of America (USA) There are certain laws regarding transactions in virtual currency in the US today but there is still no comprehensive legal framework. The Commodity Futures Trading Commission currently regulates virtual currencies as commodities. The CFTC is the first US regulator to allow for public cryptocurrency trading. The Securities and Exchange Commission requires registration of any virtual currency traded in the US if it is classified as a security (e.g. by the Howey test). The regulatory authorities have not yet formulated or offered a coherent framework for regulations regarding cryptocurrencies. Typical of most legislators and regulatory agencies in the US, the Securities and Exchange Commission (SEC) has intensified its focus on the pressing need for comprehensive regulation. And it seems everyone is waiting for the right catalyst to coalesce into a usable set of legal guidelines that can protect the investing public and also allow for blockchain and cryptocurrency innovation as well. If cryptocurrency becomes a form of legal tender in the US, there will likely be stringent laws on its use. However, if cryptocurrency is treated like a security, cryptocurrencies would be regulated under securities law as interpreted by the SEC. Present securities laws place a large number of limitations on who is able to buy securities, how they are traded, and how to ensure transparency in the flow of information relevant to investors. Also note that non-US investors may experience their own difficulties getting a license to trade cryptocurrencies in the country. “ “Japan Japan has always been one of the most positive and forward-thinking nations regarding cryptocurrencies and the blockchain. Of course, they were cautious at first, and they knew no more than anyone else in government, which means they literally knew nothing. But they took time to research, learn, and develop an approach to regulate the industry without killing it. The official policy is clear: Protect the public interest, but also encourage the growth of the industry with a legal framework that allows for innovation in blockchain and cryptocurrencies. China The situation in China is a sad one. The country has been taking increasingly strict actions to discourage and outlaw any activity related to the blockchain industry. China has banned ICOs, frozen all accounts associated with cryptocurrency, stopped bitcoin miners and even ordered a nationwide ban on all forms of cryptocurrency trading. China has the strictest laws against cryptocurrency. Yet, despite that fact, as of 2017, 50% of the world’s mining population was from China! If you are involved with the cryptocurrency industry it is strongly advised to stay away from China, and avoid transactions with Chinese business because of the unpredictable and negative legal framework. “ “The United Kingdom & European Union Brexit is scheduled to take place in March 2019, yet the UK and the EU still remain united in their regulatory attitude toward cryptocurrencies. There are also reports that the UK and EU are planning to end anonymity for cryptocurrency traders. The UK and EU are both trying to control all the scams and frauds. They are working with cryptocurrency platforms to stop or at least report all suspicious transactions. This adds a degree of regulatory burden on the exchanges as well as increasing the associated compliance costs. Cryptocurrencies are extremely volatile. They are a high-risk investment. Governments across Europe are greatly concerned about the possibility of both retail and sophisticated investors losing a lot of money. This has led to a situation similar to that in the US. The regulatory authorities have not yet formulated or offered a coherent framework for regulations regarding cryptocurrencies. There is an intense focus on the pressing need for comprehensive regulation. And everyone is waiting for the right catalyst to coalesce into a usable set of legal guidelines that can protect the investing public and allow for blockchain and cryptocurrency innovation as well. We certainly hope for intelligent and effective legislation from all the major countries. “ “Accommodating & Unaccommodating Countries Below is a list of countries we have not specifically covered, but they have each taken an active position on a regulatory framework for cryptocurrencies. The following countries are either supportive or at least neutral toward cryptocurrencies: -Switzerland. -Australia. -Nigeria. -Ghana. -South Africa. -Singapore. Countries with the most stringent and negative cryptocurrency regulation: -Venezuela. -South Korea. -India. -Russia. Did you know? It is not uncommon to see Bitcoin and other cryptocurrency ATMs throughout Japan. Exchange robberies and hacks like MtGox, and the recent loss of $530 million NEM coins have led to serious debate in the Japanese government. The industry needs to provide a secure and manageable solution to these problems. Voluntary self-regulation and close cooperation with regulatory authorities is the most favored solution. It seems the regulators are working hard behind the scenes right now leading the industry in the desired direction in typical Japanese fashion. “ “Blockchain Industry Regulations in the USA Based on the information received from the Columbia Science and Technology Law Review, there was a variety of responses from different government bodies about blockchain regulations. The regulators responses ranged from indifference to suspicion, and to positive expectation and excitement. The US government has tremendous constitutional power to regulate business and industry, including of course the blockchain industry if it so desires. But basically, the federal government has been relatively indifferent and has even refused to speak on blockchain regulations despite the interest of various federal agencies. As of 2017, eight states in the US were working on bills promoting the use of cryptocurrency and blockchain technologies. It is even reported that a few states have actually begun the final steps before voting and passing legislation into law. On April 3, 2018 Arizona introduced a law allowing corporations to hold and share data on the blockchain. The governor, Doug Ducey, put forward the legislation after the state began accepting signatures and smart contracts recorded on the blockchain as legally valid documentation. In 2017, Delaware was the first state to pass legislation allowing for shares of stocks to be legally traded on the blockchain. Other notable developments have occurred in the US at the state or local level. Vermont makes use of blockchain as evidence in trials. Chicago uses blockchain to maintain real estate records. New York is currently evaluating four bills for the application of data storage on the blockchain. “ ” Blockchain Regulations in Europe The entire European Union has approached blockchain with a positive and welcoming attitude. The EU has taken the position that they want to actively encourage innovation. This philosophy could support the development of cryptocurrencies in two ways: -Encouraging the exploration of uses testing the impact and effect of the laws in a way that allows for a more finely-tuned and sophisticated understanding for all parties involved. -Giving entrepreneurs the confidence that their target markets will be more trusting of their solution since they are operating with the explicit legal support of the state. This approach, along with the EU’s scope as the regulator of 28 different countries, will encourage growth across the entire crypto ecosystem, and may end up transforming Europe into one of the most desirable destinations for blockchain development. Entrepreneurs are likely to move to the EU bloc to access the rich vein of available talent, as well as the positive and supportive laws. The EU has actually disclosed through its executive arm that it is working on the use of blockchain for distributed ledger based projects. EU officials have constantly stated they are looking for ways to support more innovation with distributed ledger technology. The European Commission said it was “”actively monitoring Blockchain and DLT developments”” and has work in progress to explore “”DLT benefits and challenges as well as fields for application in financial services””. The official press release stated that the commission clearly wants to “”pilot projects to foster decentralized innovation ecosystems and help reshape interactions between consumers, producers, creators and among citizens, businesses and administrations to the end benefit of society””. “ “Blockchain Regulations in Europe §2 Switzerland has gradually become the favored hub for cryptocurrency and blockchain development in Europe. This position has been enhanced through a Swiss non-profit blockchain and cryptographic technology ecosystem known as the Crypto Valley Association. The Crypto Valley Association has begun working on the development of an ICO Code of Conduct to take advantage of the ban imposed by China on token crowd sales. They are hoping to capture the Chinese and Asian entrepreneurs searching for a new home. Other countries are not as accepting of this new DLT technology and have even gone as far as classifying it as illegal and immoral behavior. There have been hyperbolic concerns most notably from China that cryptocurrencies will destabilize world financial markets. There are various pilot projects and efforts to prove the benefits of cryptocurrencies and the blockchain industry currently being tested all across Europe. Yet even now they are barely scratching the surface of the full potential of the blockchain. Country-by-Country Cryptocurrency Adoption Citizens of countries all over the world have varying attitudes about cryptocurrency. These attitudes and sentiments can be very significant to the future adoption of cryptocurrencies because politicians and regulators tend to act in consideration of the collective opinion of the public. Some countries were more accommodating at first but then became stricter, despite positive public interest, basically saying they are still not sure about the possible consequences and benefits of the technology. “ “Country-by-Country Cryptocurrency Adoption Estonia Surprisingly enough this small Baltic nation has gained a reputation for being quick to accept technological innovation. Estonia has a tech-friendly government eager to accommodate the innovative use of cryptocurrency in fields ranging from blockchain technology for healthcare and banking services; and even granting citizens the right to become what is known as “e-Residents”. As e-Residents, Estonian citizens and businesses are provided with digital business authentication. It is also one of the first countries to employ the use of a blockchain-based e-voting service that enabled people to become shareholders of NASDAQ’s Tallinn Stock Exchange. This fascinating and highly innovative country is now host to a number of Bitcoin ATMs and startups, like Paxful. They are cryptocurrency friendly, and cryptocurrency user friendly as well. Estonia also has highest internet penetration rates in the world. Estonia may be a fine place to consider basing your ICO due to the friendly legal and regulatory environment. This and a lot more you can learn on our website: www.ubai.co! “ “Country-by-Country Cryptocurrency Adoption The United States of America The USA is the world’s dominant superpower, and it should come as no surprise that it has the highest number of cryptocurrency users in the world. It also has the highest bitcoin trading volume and the highest number of bitcoin ATMs. Powered by Silicon Valley, which is home to a lot of cryptocurrency and blockchain startups, the US stands at the forefront of all things relating to cryptocurrency worldwide. Many other nations are planning to follow the US lead concerning cryptocurrency regulations. This means the USA will serve as the testing ground for cryptocurrency and crypto-regulation in the years to come. This is likely where the future regulatory framework will take shape. Bitcoin in particular has shown massive growth in the US. This can only be interpreted as a strong tailwind for a positive regulatory environment because the population at large supports blockchain technology. For the moment, due to regulatory paralysis and the resultant legal vacuum, ICOs are strongly advised against raising funds or basing operations in the US. The SEC has been particularly strict in its enforcement of securities and investment law which require an ICO to do an oppressive amount of compliance work. “ “Country-by-Country Cryptocurrency Adoption Denmark When it comes to technological advancements and the standard of living of its citizens, Denmark is among the world leaders. It is considered one of the most developed countries in the world. It is also at the forefront of countries looking to reduce the use of cash money and advance to the use of 100% digital currency. As such, sentiment among the general public and political sphere actively supports the adoption of cryptocurrencies as a means of payment. The only question left is which particular cryptocurrency system to adopt. It is still unclear whether bitcoin is the one, or BTC will mainly just be accepted as a means of exchange. There are also discussions in Denmark about when to redesign its national financial system; this would be a “world first”, and a radical leap forward for cryptocurrencies. Another fascinating thing is that the Danish Central Bank has declared BTC as a non-currency; meaning its use is not subject to the country’s currency regulations. Some of the top bitcoin startups and exchanges such as CCDEK have their foundations in Denmark. With its open market and encouraging regulatory framework, Denmark might very well rival Switzerland in Western Europe for the position of the continent’s preeminent ICO and blockchain industry hub. “ “Country-by-Country Cryptocurrency Adoption Sweden Sweden is quite similar to Denmark, for its social and demographic climate, and also for the government’s desire to eliminate cash. The Swedish Riksbank recently introduced negative interest rates. This can cause a spike in the demand for coins in the near future as citizens look for the best way to preserve their wealth. Negative interest rates like we have seen in Europe and Japan also, actively corrode savers’ wealth because people are actually paying a percentage of their savings to the central bank to hold their cash, in addition to losing out to inflation at the same time. Sweden has taken the boldest step yet in all of continental Europe to legalize cryptocurrency. The country legalized the use of BTC and other cryptocurrencies as a means of payment by official public declaration. It is however expected that exchanges should file for a license in accordance with AML/CTF and KYC regulations. Sweden is also home to a number of cryptocurrency startups such as the Safello Bitcoin exchange, and Stockholm-based KnCMiner. The gradually increasing trading volume of cryptocurrency has been a good indicator of the country’s appreciating demand for cryptocurrencies. “ “Country-by-Country Cryptocurrency Adoption The Netherlands The Netherlands is quite fascinating in its own right. How can a country not be referred to as Bitcoin-friendly when it can boast about having its own “Bitcoin City”? There are over 100 merchants that sell goods that can be purchased with cryptocurrency in Bitcoin City. There are no regulations restricting the use of BTC in the Netherlands under the Act on Financial Supervision of the Netherlands. This explains why a lot of startups, BTC ATMs, and even a Bitcoin Embassy can be found in the heart of Amsterdam (the capital of Netherlands). The friendly climate for cryptocurrency has led to a lot of very active bitcoin communities across the nation hosting regular meetups and other events. The country’s banking sector has been looking to incorporate BTC and blockchain to reduce costs and improve banking technology. The Netherlands is also a popular location for many important bitcoin conferences and bitcoin companies such as BitPay. The Netherlands is increasingly becoming a prominent place for ICOs and blockchain related businesses to base their operations. “ “Country-by-Country Cryptocurrency Adoption Finland Well-known as the home of Nokia, Finland has constantly been at the forefront of technological innovation, just like its other Scandinavian neighbors. The Finnish Central Board of Taxes (CBT) has even gone as far as classifying bitcoin as a financial service, exempting it and cryptocurrency purchases from the VAT. What more could be better for Bitcoin? Finland also boasts a significant number of BTC ATMs despite its small population. The capital of Helsinki alone is reported to have 10 ATMs for BTC. The country is also home to top exchanges such as FinCCX and Bittiraha.fi. As of January 2016, the most expensive bitcoin sale took place in Finland. It involved the sale of a Tesla Model S worth over €140,000 at Auto-Outlet Helsinki Oy. Canada Canada is home to a variety of bitcoin startups and ATMs. It is considered to be more favorable toward cryptocurrencies than the USA. The country has two cities on its eastern and western coasts, Toronto and Vancouver, that are recognized as “Bitcoin hubs”. Canada has a vibrant cryptocurrency community and is home to startups such as Decentral, the Vanbex Group and a large number of merchants who accept cryptocurrencies as payment. Vancouver is known to have over 20 ATMs while Toronto is well-known for holding large cryptocurrency conferences. There has been constant growth in cryptocurrency trading volume in the country. Canada might be the best location in North America to base an ICO or operate a blockchain business due to its supportive regulatory environment and a rich ecosystem for cryptocurrency, with human talent, ATMs and other tools, etc. “ “Country-by-Country Cryptocurrency Adoption United Kingdom The UK is one of the absolute top financial hubs in the world. It is also a center of innovation. There are a large number of bitcoin and blockchain related startups, BTMs and active communities. All of the previously listed crypto-friendly features make the UK a very desirable environment for bitcoin. The UK has identified the inevitable need for a new payment solution and is gradually bracing itself for a widespread adoption of cryptocurrency in the future. There are even a few local pubs that accept BTC as a means of payment. It is also interesting to note that the Bank of England has been closely monitoring bitcoin technology and has requested ideas from citizens on the improvement of its monetary system. Bitcoin is presently seen as “private money” where VAT is imposed from suppliers of goods and services that accept cryptocurrency as payment. Profits and losses incurred from cryptocurrency trading are also subject to capital gains tax, just as in the US. In the UK, it has become increasingly clear that BTC can be part of a bigger story, and the trading volume indicates steady growth. There are not clear laws against cryptocurrencies at the present time. But the lack of regulatory momentum suggests we may see more positive developments soon. One thing to keep in mind, while the Brexit is still in progress, the British government may be more likely to legislate on non-core issues. “ “Country-by-Country Cryptocurrency Adoption Australia The major banks in Australia have been quite hostile toward bitcoin, but at least the country has removed the burden of “double taxation” on cryptocurrency. This was good news to the local business community because blockchain startups had begun to leave the country as a direct result of unfavorable taxation and closure of bank accounts. The use of BTC still remains unregulated, there is no law or regulation restricting the use of cryptocurrencies by Australian citizens. Cryptocurrencies are regarded as a form of property in Australia, and purchases with BTC, for example, are referred to as “barter”. The Australian Securities Exchange (ASX), you will remember, is transitioning its CHESS verification system to a blockchain solution that should go live at the beginning of 2019. Cryptocurrencies in Australia are seen a lot like they are in the US. Topics like the imposition of capital gains tax, concern about securities law, the legal debate about using cryptocurrency as payment for goods and services, etc., are all problematic for regulators. While the general population is quite comfortable and supportive of cryptocurrencies and blockchain solutions, at the present it is not a high priority for the government to legislate or regulate. “ “Taxation and Cryptocurrency Tax is of course one of the most important factors in financial matters on both a personal and corporate level. Taxes greatly influence investment decisions and returns, regardless of industry or size. It is one of the first things every individual or group considers before investing. Notably, in Australia and the USA, cryptocurrency gains are treated as capital gains and taxed at up to 50% of the return. Some countries have low cryptocurrency taxes specifically to encourage the blockchain industry. By offering a more competitive tax rate, countries are implicitly supporting cryptocurrency and actively trying to offer a better return profile than other countries. We will discuss the different taxation regimes in a wide range of countries so you can ascertain the financial advantages and disadvantages of a variety of locations. Belarus Belarus charges 0% in taxation until 2023. That exemption is specifically for cryptocurrency exchanges and transactions. This has been done to help Belarus build a special economic zone, referred to as ‘HTP Belarus’. Their goal is to have an economic zone strong enough to compete with the likes of Silicon Valley. The government of Belarus has also declared smart contracts as legal documents. Anyone looking to set up a blockchain company or a cryptocurrency startup should seriously consider Belarus. It has a supportive regulatory and legal environment which actively encourages the blockchain industry and does not impose punitive taxes upon those inside the industry. “ “Taxation and Cryptocurrency Portugal Any and all personal income received from cryptocurrency transactions is tax-free in Portugal at the present moment. Income from cryptocurrency trading is categorized as something legally different from traditional income or capital gains. The Portuguese government stated clearly that any kind of sale of cryptocurrency does not fall under capital income or capital gain. If an individual is however found to be carrying out professional activity, or any business activity related to cryptocurrencies, that is a different matter and such income will be subject to taxation. From a personal perspective, Portugal is one of the leading countries where an individual can carry out their cryptocurrency transactions and enjoy a decent standard of living in the same country too. However, for ICO and Blockchain businesses it is not recommended to base your operations in Portugal. China China is famous the world over for being home to some of the largest cryptocurrency mines and many active cryptocurrency investors; yet at the same time China makes it illegal to conduct any cryptocurrency related business or investment. But China still has an especially attractive environment for investors. Hong Kong runs on a policy of zero VAT or capital gains tax so it is easy to recommend you base your business there. Hong Kong also stands out as a major financial hub in the heart of Asia. “ “Taxation and Cryptocurrency Netherlands Actually, Netherlands was the first country to make use of a non-zero tax rate policy for cryptocurrencies. So, it may seem reasonable to expect a discouraging tax situation. But the fact is, Netherland’s tax policy is rather advantageous for cryptocurrency. They have a very simple, low-tax regime. Cryptocurrency assets need to be declared with the total assets owned by an individual at the beginning of the year to assess their value. Cryptocurrency gains will be taxed at the highest tax bracket for capital income of just around 5%. The Netherlands is strongly recommended as a good country to work and live in, from both a personal and corporate perspective. Germany Germany is the economic center of the EU. This makes it a great place to start a cryptocurrency or blockchain company. Financial technology has been thriving there for more than ten years, and Germany has favorable cryptocurrency laws too. Bitcoin and cryptocurrency assets have a 0% tax when used in making payments due to no VAT levied for making payments with BTC, because there is no “value added” through cryptocurrency as a fiscal product. Germany offers a moderately compelling case for both blockchain business and individuals. While the tax rate on income at the company level is not competitive, the ability to pay for services in crypto as well as hold cryptocurrency assets and sell them at zero percent taxation rate is compelling. “ “Where to Base Your ICO Let’s talk about the countries that are most accommodating with regard ICOs. Start-up ICO companies, like any company, essentially require three key principles for operation. The first is a sound legal and regulatory framework wherein the rule of law is preserved and business encouraged. The second is the ability to hire or acquire talented individuals to work at the firm. The third and final is the tax system and access to associated financial systems in order to allow the enterprise to succeed. Estonia This country is, perhaps surprisingly, widely referred to as the most digital society in the world. Estonians are known to be pathfinders deeply involved in setting up an efficient, secure, and transparent internet ecosystem. The country ranks first when it comes to the number of ICOs per inhabitant. It has an incredibly supportive tax regime, actually among the most competitive in the world, as well as a deep pool of talent across all areas of the digital spectrum. Estonia offers possibly the most supportive and friendly regulatory and legal framework in the world for an ICO. This, in combination with a zero percent tax rate at both a personal and corporate level, combine to make Estonia one of the single most appealing locations from which you can launch and operate your ICO. “ “Where to Base Your ICO Singapore Singapore is another important regional hub in Asia for its strong rule of law as well as low taxation. The country offers one of the highest standards of living in the world. It is centrally located in the heart of Asia, so it easy to travel and recruit talent from surrounding countries. At the present there are not any specific regulations targeting the blockchain industry, but it is one of the world’s largest countries by funds raised for ICOs. It has a competitive tax regime in combination with strict AML and KYC. All of these factors make Singapore Asia’s leading location to launch and base an ICO. The regulatory situation around the world may seem rather complicated. That is because it is. Laws and regulations are changing rapidly all over the world. And the regulatory framework is the most significant point of concern for a startup ICO. You should carefully study not only the current regulations surrounding your particular venture and how its tokenomics affects its classification, but you also need a reasonable sense of where the country is likely to be six months or a year later. Ideally you would base your ICO in a country that is supportive now, and all timeframes into the future with a competitive and legally sound tax system. Where to Base Your ICO Slovenia Slovenia has recently transformed itself into the leading destination for blockchain technology in Europe. The government of Slovenia has placed a strong emphasis on the study of blockchain technology in public administration, and there has been an amazing success rate for ICOs in Slovenia. While the Slovenian government is a leader in terms of adopting cryptocurrencies, its rate of taxation is still considered quite high at 19%, even though that is still lower than other European countries. ICOs are considered to be normal business activities where you are taxed based on the funds received from an ICO less the expenses of doing business. Switzerland Switzerland is trying to remain relevant for the blockchain industry and for ICOs. The Swiss finance ministry is actively trying to attract investors to the country. Switzerland is considered a very important crypto location due to fact it was home to four of the largest ICOs in the world. The country is also very attractive to investors because of its friendly regulations and digital expertise. The taxation and regulatory environment is extremely secure and positive towards the cryptocurrency and blockchain industry in general. Are there successful ICOs that have originated from the specific countries considered? Read the full article to get the answer! UBAI.co Learn more about our STO and ICO marketing services right now! Contact me via LinkedIn: LinkedIn
https://preview.redd.it/mhe8tbtmypp21.jpg?width=1080&format=pjpg&auto=webp&s=8e8600f416ae5c41f6bd7721bd315fda6086bdd4 Many residents of different countries own Bitcoins, but not everyone can use them for their intended purpose. However, there are cities where those who own them can fully enjoy their advantages over other currencies. Analysts ranked such cities. San Francisco is in the first place. In this city, there are more than thirty ATMs working with Bitcoin and hundreds of stores where they can pay for goods and services. It is here the largest crypto-exchange Coinbase located. In addition, there are many programmers working with cryptocurrencies. Vancouver is in the second place. The city has more than a hundred stores that accept coins as well as about fifty cryptoATMs. Anyone who owns Bitcoin can easily pay them off and not feel deprived of their rights. The third place went to Amsterdam. This city is considered one of the most loyal to cryptocurrency. There are dozens of outlets and shops where you can pay, there is also an ATM that works with Bitcoin. Fourth place - Ljubljana. Despite the fact that the city has just over 250,000 inhabitants, it has 5 cryptoATMs and dozens of small shops that accept Bitcoin as a means of payment. In addition, they can pay in some hotels. Tel-Aviv is in the fifth place. It has several Bitcoin ATMs, more than sixty stores which accept a leading coin. Zurich is in the sixth place. Since a large number of banks work here, they decided to install 8 ATMs operating with Bitcoin in the city and residents can pay them in several dozen outlets. Seventh place was taken by the city of Tampa. Despite the fact that it is very small, there are 13 Bitcoin ATMs and almost a hundred stores where everyone can pay Bitcoin for the goods. Buenos Aires is on the eighth line. This city has more than a hundred stores where tourists and residents can pay with Bitcoin. There are a few cryptoATMs. New York is in ninth place. Bitcoin takes several hundred stores and more than a hundred cryptoATMs work here. London is in the last place. Here you can find more than eighty stores and several dozen ATMs working with bitcoin. Perhaps in a few years there will be even more cities where residents and tourists can use Bitcoin for their own purposes.
Before I go into my story let me introduce myself. I work in the financial services sector, live in New York and am new to Bitcoin. Recently, I’ve decided to give a try and buy some bitcoins. Everyone talks bitcoin so I wanted to evaluate the future of the currency for myself. First, I googled the most popular ways to buy bitcoins. Decided to start with the exchange. After reading numerous stories about Mt. Gox, bitstamp and other exchanges decided to register with Coinbase for the reasons you all probably know. The basic registration process was straightforward and simple. However, in order to buy bitcoins you have to go through verification procedure. You need to link your bank account to Coinbase, provide your billing address and in case if you want to make buying bitcoins instant you also need to link your credit card. So you provide the same information you need to provide to any US bank to be able to buy bitcoins. There is no anonymity or privacy. It’s a myth. Then you buy bitcoins. You would expect instant transaction but instead you have to wait 4-5 days for the transaction to complete. So if I need to buy something with bitcoins the same day – I can’t. Moreover, the worst part is that while you are waiting for the transaction to complete the price of bitcoin fluctuates. In my case, it fell 15 USD which was more or less equal to 10% of the price of btc on the day of purchase. So btc lost 10% value against USD while I was waiting for the transaction to complete. In addition, you also have limits. You cannot buy more than 1000 USD worth of btc in one week. I thought this was totally ridiculous. What was the reason for going through all these verification steps if you are still facing limits? However, as I am new to btc decided to give another try. This time I registered with Coinbase Exchange. Again, you have to provide your SSN and link with coinbase account. When you register with the exchange Coinbase opens so-called “USD Wallet”. You can now transfer USD to this wallet and then instantly transfer them to btc or trade in the Exchange. However, the transfer again takes 4/5 days. I was totally disappointed by how the whole system works. I thought bitcoin users were treated like some kind of criminals. I wasn’t simply asked to verify my identity by providing all the usual KYC information, but I also faced buy/sell limits (1000 USD a week), 4/5 delays in transaction completion. Moreover, I had to provide all my bank details to Coinbase. I felt like I had no other choice as to trust Coinbase despite the fact that they disclose very little information about security measures they implement to store my personal information. Moreover, Coinbase was not different from any bank around the corner with its KYC procedures. Anyway, I thought it was too early to give up. Decided to try localbitcoins. Unfortunately, I experienced another disappointment. Bitcoins are sold in average with 6-7% premium. And you have to pay this premium every single time you buy btc. You also have limited options for buying btc: Moneygram/WU transfers, national bank transfers, paypal transfers and gift codes. From all these options the only instant and acceptable option was paypal. However, the seller of btc requested my photo holding some ID for verification process. Here you are not dealing with Coinbase, which is supported by NYSE, but with some ordinary guy who God knows how treats and secures the information you provide to him. I understand the reasons why he/she asks for the verification but still find it irresponsible to trust this person. I have no idea who he/she is and how he/she handles the information I provide (in case of buying using paypal). Of course you can also buy with cash. I tried that option as well. Buying with cash involves arranging a meeting with some stranger somewhere in your town. So you have to arrange the time and place to meet and both of you should agree on this. Then you have to carry cash with you, which is another risk. And of course you wont carry over 1000 USD especially if this is your first transaction with some stranger. Finally, again you have to pay around 10% premium. Then I found out about guys from LibertyX. I read some of their interviews and thought they were trustworthy. They claimed that one could buy their so-called Qpins in big stores nationwide and redeem them for btc. However, when I visited their website it turned out that I had some outdated information. In reality it’s possible to buy Qpins only from small stores in Manhattan and Brooklyn. They recommend calling the stores before visiting them. I followed their advice, but not a single store in Manhattan answered my call. So I decided to try my luck and go there without speaking to them on the phone. One store was out of business. Another one claimed that it didn’t sell bitcoins. In such case LibertyX recommends calling them, as they know how to handle such situations. So right from the store I called LibertyX. Guess what? All their operators (probably 1 or 2 people) were busy to answer my call. So decided to go to Brooklyn. And again one store was closed and the other store manager didn’t know what I was talking about. However, after 30 minutes of explanation the store manager finally figured out how to find in their system Qpins and sell them to me. Overall, the whole process took 1.5 hours. I came home, logged in to LibertyX website to redeem the pins and receive btc. They also collect personal information. I entered my real name and address. Their system gave an error message saying that it couldn’t verify the information I provided and asked me to send verification information (scan of ID). In order not to lose my money, I had to provide them the scan of my ID. Then I had to wait a day for my account to get verified. Please, note that they also have 1500 USD weekly limit. I am a stubborn guy and I hate banks enough to give another chance for bitcoin to prove itself as future currency and therefore I decided to try bitcoin ATMs instead of all methods described above. I visited coinatmradar.com to locate the nearest ATM. I found three ATMs in Manhattan and two in Brooklyn. Visited all of them and didn’t find any ATM in any of these locations. Finally, decided to try to register with the European exchange to compare with the US one. I couldn’t even register with them because Europeans avoid providing financial services to the US citizens. My attempt failed. The same happened when I tried to buy bitcoins through VirWox.com. So here are my conclusions.
Buying bitcoins is not anonymous.
Unless you use cold storage/offline solution you do not hold bitcoins but some institution like Coinbase does.
Buying bitcoins is not a straightforward process, is time consuming and requires risk acceptance.
Buying bitcoins is expensive. You will normally pay 10% premium when buying for cash or paypal. This premium equals to a dream annual return of most hedge funds (and their investors accordingly).
You have to verify your identity when buying btc through exchanges or companies like LibertyX. You go through the same procedure as when opening a bank account.
There isn’t any operating ATM in New York. This is due to “bitlicense” uncertainty. However, even if bitlicense is implemented not a single ATM would operate profitably under money transmitter licensing.
You face limits when buying bitcoins. Coinbase and Circle have 1000 USD weekly limits. LibertyX has 1500 USD limit. Localbitcoins doesn’t have limits but you cannot buy btc using debit/credit card. Moreover, when buying through localbitcoins you have to be aware of scammers.
The high cost of buying btc can potentially offset the benefits of low transaction costs. It might be cheaper to use your debit card.
Therefore I don’t see a single benefit of dealing with bitcoin instead of fiat (i.e. banks) in current environment. There is no “killer app” requiring you to go through all the above procedures to buy bitcoin. I think the only people who are willing to go through all this hell in order to buy btc are the ones who use them illegally in the dark market, some enthusiasts/revolutionists/anarchists who believe in the long run success of btc, hate banks and current financial system; and people who either trade btc or use it occasionally for some purchases online. I don’t see how mass adoption can happen if you cannot buy bitcoins with two-three clicks online. I don’t understand who would wait 4/5 days to get btc when the price fluctuates every 10 minutes. What I do now is I buy btc using Coinbase. Then I send them to bitreserve.org and hold them in different currencies. However, even if I want and need to buy btc instantly I simply cannot do this. If instant buying is possible then I have to pay high premium. I find it much cheaper to use my debit card and pay bank fees, which are nothing in comparison with the premium to buy btc. Please, prove me wrong or enlighten me. Maybe I am missing something.
I was trying to find bitcoin for sale on localbitcoin because it's the website my brother uses back in Europe to buy bitcoin but they don't offer services in New York since it's not legal. I don't want to use any website like coinbase because they ask for Social and I dont want to have to pay taxes or have the government know what im spending on crypto. Is there any bitcoin atm or location where people sell bitcoin in person?
Instacoin Bitcoin ATMs now in Hamilton, Kitchener, + newly added locations for the GTA.
Instacoin has expanded into two new Ontario areas with 24/7 Bitcoin ATMs in Hamilton and Kitchener. Hamiltonians can visit us at Big Bee Convenience: 270 King St W, Hamilton, ON L8P 1A9 (More info) Folks in the KW will find our machine at Hasty Market: 11 Westwood Dr, Kitchener, ON N2M 2K5 (More info) We've also added four new GTA machines:
Instacoin Bitcoin ATMs now in Hamilton, Kitchener, + newly added locations for the GTA.
Instacoin has expanded into two new Ontario areas with 24/7 Bitcoin ATMs in Hamilton and Kitchener. Hamiltonians can visit us at Big Bee Convenience: 270 King St W, Hamilton, ON L8P 1A9 (More info) Folks in the KW will find our machine at Hasty Market: 11 Westwood Dr, Kitchener, ON N2M 2K5 (More info) We've also added four new GTA machines:
My name is Ricardo Martinez, the founder of Nexgen a unique conglomerate; comprised of multiple Start ups with a Common Goal. The goal? To develop quality relationships with consumers, merchants and organizations for future opportunities to serve or consult them on many things, among them 1st party products and services. We believe in a better way of doing business, a better way to advertise without manipulating excessive data being mined. We believe in serving customers to our best of capabilities and go the extra mile every chance we have. To be there any hour of the day to address your concerns. We also believe in Crypto. We believe in it’s potential to optimize businesses and even entire industries. To better compensate contractors and freelancers. Creating unlimited opportunities. We strive to do our part in leading crypto forward toward mass adoption, internationally. To accomplish our goals we are launching a Rewards Ecosystem City Rewards, offering Sweepstakes with opportunities to enter multiple times daily in various sweepstakes contests. Offering an Augmented Reality experience like no other, where you can scan our Access codes at participating locations to win rewards, tokens, bitcoin as well as other coins and tokens and search for the prizes in our monthly prize hunts! A Platform that allows you to access a cash back network for your crypto at Local Businesses rather than visiting the far apart ATM's to withdraw, access delivery for nearly anything with our merchant network using City Ride, you can even use City Ride for other errands like dry cleaning and even have your groceries delivered at a scheduled time in your day convenient for you. We strive to change the way we engage with local businesses to empower small business owners to compete against Big Business that is constantly innovating towards a future that forces local businesses to band together on a platform that empowers them in many ways. In the end we strive to offer customers a better experience, better service, better convenience at a better price. Simply put because our customers always come first! And all of our employees stand behind that understanding or are otherwise not compatible to be Nexgen employees. Over the course of 2018 we will expand across North America and in Quarter 4 Internationally to our planned markets including: Mexico – Canada – United Kingdom – Spain – Brazil We will also by then have our Company Headquarters established along with our Offices in the different regions we will have expanded to. Along with our Office infrastructure we will have our Incubator spaces as they go hand in hand. In 2019 we plan to have our Blockchain platform fully developed and ready for launch. At that point we will transition our Active Post ICO platforms to the NX Ecosystem powered on the Nexgen Blockchain. We will be establishing a powerful mining network through a Point of Sale System that accepts Cash, Cards as well as Crypto and doubles as a mining rig. We plan to have it be self-sustaining to be wireless and simply have a solar powered battery. Between 2019 and 2020 we plan to develop and launch a solar marketplace for our interchangeable battery cells for a line of electronics we plan to develop and launch including our Point of Sale System and a Home entertainment System that is fully wireless using these Battery Cells. By having merchants offer interchangeable batteries as a service we plan to create a localized market of interchangeable batteries for key electronic devices and appliances such as Wireless Tv’s, Dishwashers, Laundry Washers as well as Dryers, Cell phones with long term batteries and even Laptops. Nexgen as you can see has a vision for the near future, but we also have a long term vision with goals to attain. In 2018 we plan to establish ourselves in various industries as serious competitors with innovation and likeminded employees that are empowered within our company to help us accomplish our goals. We plan to reach the milestones we have laid out for ourselves at Nexgen that will be announced as they are accomplished rather than used to produce unnecessary hype. Currently in Quarter 2 we are establishing our Home Market IL and in the process of hiring 81 Employees for our Market Launch. In May we will begin the process of expanding to Texas as well as Ohio and by end of June we will have launched operations in New York and California. In Quarter 3 we plan to Expand to an additional 5 Markets Including: Arizona – Florida – New Mexico – Massachusetts – Wisconsin By now we will have our Head Quarters in IL launched along with our first Incubator space. We will in Quarter 3 roll out our incubators for the 10 Expanded Markets. We launch the 2nd phase of ICO’s. We also plan to establish customer service and sales support centers in Mexico while laying out our infrastructure for Full Expansion to 10 Major Markets in Mexico, our first international market. We plan to establish strong Advertising Partnerships within the Crypto space. In Quarter 4 We expand to the rest of our first wave of international expansions. The 3rd wave of Nexgen ICO’s are launched as well including for the Nexgen Coin. This is a brief overview of 2018 for Nexgen. Of course we will provide a more detailed timeline that will be constantly updated with new additions and updates on progress. Our NX Tokens are Consumer and Merchant Products and platforms. Our main currency within the Ecosystem being our NX Token used for an exclusive commerce platform using the NX cryptocurrency. Our Nexgen Coin is our Coin for our Nexgen Blockchain, powering the entire nexgen ecosystem and constantly evolving. The value of our Tokens and Coin fully depends on the value our products and services provide to our customers, merchants and advertisers. It’s these 3 parties that provide the constant and long term usage of these tokens and coin. That provides a high daily volume that is reliable. That are not affected by market trends. That’s whole value isn’t dependent on another token or coins value or performance. Investors, enthusiasts and traders that see this value and recognize it’s potential to be a winner financially is not in our control, our main interest or full focus. We are not intending a Money grab and do not plan to use strategic hype and momentum for spikes in our tokens exchange trading value for short term gains. We plan to use vesting options to ensure purchasers of tokens from the ICO do not dump and negatively affect our integrity. We at Nexgen are allocating 2.5% of token supply for each ICO we do. At a price we believe Is fair and prove we do not intend to squeeze out every drop of money from ICO Purchasers with penny tokens. Our platforms within Nexgen stand by themselves financially. They are successful. They receive nearly 100% Positive Feedback. We strive for that. For our Advertisers, our merchants, our members, to be pleased with their experience at a Nexgen Company. City Rewards and City Ride intend to display that through their company operations. They intend to show that Crypto can empower and optimize a business, start up and even an industry. That it’s more than a financial instrument or Technological Advancement with endless opportunities, but also a product and service that can change the way consumers engage with local businesses. It can change the way advertisers pay for advertising within Crypto ecosystems and in the future cross market between ecosystems. I hope this information I have taken the time to write to you can serve to help you better understand our vision at Nexgen. If you’re a developer, a Coder, an Engineer, a Designer, An Entrepreneur, An Investor, whatever you may specialize in or even if you’re fresh out of Highschool and interested in an opportunity to be part of Nexgen, taking part in building our Next Generation visit us at the website below to Apply. Rest assured one of our Recruiters will be in contact with you within 72 hours on Business Days. I may be the founder but it’s the Employees that join our company with the intention of making an impact on our Next Generation that will build this company from the bottom up. My self and my Co-Founder and Investor Brandon Barker are here to find the individuals that will help us in the effort to build the Next Generation. It is these individuals that will help build Nexgen and Nexgen Companies like City Rewards, City Ride, City Aqua, NGM Consulting, Nexgen Advertising, nexgen crypto, among many more future ventures to their fullest extent of Success. My responsibility is to lay down the Foundation for this company, find the leaders that are going to be part of the team to manage the operations, ensure we staff people with positive attitudes, great personalities, the will to learn new skills and improve communication skills. A Go Getter Attitude. It’s my job to ensure we’re on track with expansion, with the technological developments and innovations our platform needs. It’s my responsibility to ensure we don’t get left behind. To make sure that we are constantly pushing forward, reaching milestones, creating new opportunities, taking new risks, competing in new industries, empowering new entrepreneurs to ensure we are always Growing. I know there will be many people with many questions, many concerns, things that our community will need addressed. Customers, Advertisers, Crypto Communities, Members of our platforms. I urge you to visit our Launch website for all the content that can answer as many of those questions and concerns as we are able to. Over the course of the year we will have live company conferences, Q&A’s, Tech Conferences for our NX Ecosystem and much more. Make sure to find us on our Social Media including Telegram to stay up to date on all progress, announcements and updates. As we grow our Premium Merchant Network, Community Vetted Driver network for City Ride, Base of Daily Active users for City Rewards and City Ride among many other important announcements and updates we will make sure to keep everyone up to date on accomplished milestones and weekly progress through our Social Media Platforms and of course our Subreddit! I hope the information in this letter helps all of you understand Nexgen better and be better suited to explore the Ecosystem and our platforms. Sincerely Ricardo Martinez
An exhaustive email explaining NYC "roadmap" to the 'hype and scam' crowd. PLEASE READ. (31 points, 59 comments)
1,000,000 NYC BOUNTIES for every new retail/storefront business YOU get to accept NewYorkCoin in New York City. Business owner downloads Coinomi Wallet (beta) from link at newyorkcoin.net and prints their QR code for customers to pay! Business owner receives 1,000,000 NYC too! (27 points, 11 comments)
Gila's Nosh | 23rd Street NOW ACCEPTS NYC! (24 points, 7 comments)
LEASE NEGOTIATIONS IN PROCESS FOR AN AMAZING GALLERY SPACE IN LOWER EAST SIDE, MANHATTAN! THE NEW YORK COIN CENTER WILL BE OPENING SOON IN MANHATTAN. (24 points, 18 comments)
Only way NYC will go big is if we as a community come together and make it big. It’s not magic, we are investors and it is our duty to help this coin grow so developers have enough resources to further the project. (18 points, 9 comments)
More exchanges is the solution (14 points, 6 comments)
Dallas Mavericks announced they will accept Cryptocurrency next season.. (13 points, 3 comments)
NYC (24hr) trading volume passing $1m!!! Coinmarketcap is fixing bug that is stopping updating of volume. All markets offline at coinmarketcap. NYC TRADING VOLUME IS EXPLODING!!! (10 points, 4 comments)
1,000,000 NYC BOUNTIES for every new retail/storefront business YOU get to accept NewYorkCoin in New York City. Business owner downloads Coinomi Wallet (beta) from link at newyorkcoin.net and prints their QR code for customers to pay! Business owner receives 1,000,000 NYC too! by hivewalletvictim (27 points, 11 comments)
Who is applying and sending in the info the exchanges require to get added ? Ill do it and pay the fees they require if someone will give me permission and materials I request. I’ll pay the fees as well they range $5000 to 20,000. Exchanges want money it’s that simple. by earthfunds (26 points, 10 comments)
We have listed out all of the cities below in New York, where we have Bitcoin ATM locator listings. RATING HYIP NEWS FEEDS ... New York, NY - 10022 Direction: Fiat → Crypto ATM type: Genesis Coin Limit: Buy: $9000/txn, Daily: $10000 Hours: Mon-Fri: 8:00 am - 10:00 pmSat-Sun: 10:00 am - 10:00 pm Details. B&W Deli and Pizzeria - Cottonwood Vending. 373 West 34th St New York, NY - 10001 ... This ATM offers a buy service for Bitcoin only and charges an unknown commission. There is a daily $5,000 limit which is presumably enforced by some sort of KYC verification. The ATM is open 24/7. 5. Apollo Deli & Fruit. Located in Harlem, at 2350 Frederick Douglass Blvd, this New York crypto ATM is in a convenient location for anyone living ... Bitcoin ATM Locations – Bitcoin ATMs For Sale. Menu. Tax & Law Bitcoin Price & News Opinion Local Bitcoin ATMs. Over 1,100 ABMs Near You. Cryptocurrency Info. Price, News, & Technology. Bitcoin Calculator. Investment Tools for Daily Use. Bitcoin ATM Services in Schenectady, New York ... While bitcoin and other cryptocurrencies are speculative investments that people hold, buy and sell to build a diversified portfolio, it’s becoming increasingly more useful in the real world.. US cities where you can spend bitcoin and find bitcoin ATMs. DID YOU KNOW. Services like ShapeShift and Changelly can make it more convenient to exchange one cryptocurrency for another (crypto-to ... Buy and Sell Bitcoin With Cash-Most Convenient Locations-Amazing Customer Support-Quick and Simple-Trusted
First Bitcoin ATM in New York State in Albany coffee shop
Now, here in the Capital region, the first ever Bitcon ATM in New York State. It's at the CT @ HB coffee shop. But, you won't be taking any cash from it. What it does is make buying Bitcoins ... ALBANY, N.Y. -- The owner of New York's first Bitcoin ATM says he hopes it will give the online currency a little more credibility. Created in 2009 by an anonymous source, Bitcoin is a digital ... Elsa Ramon from Adventures In Crypto interviewed Dustin Wei from Coinflip ATM, a company partnered with Justin Sun and Tron Blockchain. Dustin demonstrates h... How to find a bitcoin ATM (based on New York example) - Duration: 9:11. Coin ATM Radar 1,613 views. 9:11. Elon Musk: How I Became The Real 'Iron Man' - Duration: 45:00. Bloomberg QuickTake ... BITCOIN ETHEREUM PIVX LITECOIN DASH Hempstead Long Island Bitcoin ATM 4/6/2017