Category: Crypto

Categories
Crypto News

Gibraltar United To Become The First Soccer Team In The World To Pay Its Players With Cryptocurrencies

Gibraltar United will become the first European soccer club to pay its players in cryptocurrencies. Thanks to a partnership with Quantocoin, the longest-running team in Gibraltar will become a pioneer in this type of operation.

Gibraltar is a country with an extremely open stance towards cryptos and blockchain technology

Thus, it is no surprise that a team from the country’s top professional soccer division is taking such a step. The club owner, Pablo Dana, has already said that all player contracts will include cryptocurrency payment arrangements for the coming season, as The Guardian reported.

Dana is an investor in Quantocoin, a project that seeks to launch a blockchain-based mobile banking application this year. Also, Heritage Sports Holdings, the team’s shareholder group, signed a partnership agreement with the company. According to this deal, players, fans and company employees can use Quantocoin’s services. That includes the possibility for the group to use cryptocurrencies to buy players.

Gibraltar was the first place that regulated gambling companies 20 years ago when everyone saw them as horrible. The government established anti-money laundering and compliance regulations and created a platform. They have the intelligence to do the same with cryptocurrency.

Pablo Dana, Gibraltar United’s owner

Cryptocurrencies and soccer have been increasingly intertwined in recent months

In mid-July, Didier Drogba, the striker of the Ivory Coast national team and clubs such as Chelsea, in England, the UK, became the commercial face of All.me, a social networking project with its own crypto token that seeks to share advertising revenue with users.

At the end of June, the Brazilian soccer clubs Atletico Paranaense and Corinthians unveiled the plans they have for using cryptocurrencies for 2019, in an initiative that involves the payment of salaries with cryptos, as well as allowing the fans to get involved.

Other soccer players such as Lionel Messi, James Rodriguez, Ronaldinho, Iniesta, or Puyol have also been associated with projects associated with blockchain technology or cryptocurrencies, demonstrating how this is a trend that is gaining momentum.

Categories
Crypto News

IBM And CLS Group To Develop Blockchain Technology Platform For Banking And Financial Operations

On July 30th, the financial institution CLS Group and the multinational technology company IBM announced the launch of a market for blockchain applications and services for banking operations.

The online store will be called LedgerConnect, and will be a private blockchain-based technology on the IBM Blockchain platform and Hyperledger Fabric technology. In turn, this platform will offer a variety of distributed ledger technology (DLT) options for financial institutions, FinTech companies, and software vendors.

Among the purposes of the applications, there is the management of customer and market data, the management of guarantees, the control of sanctions, and the monitoring of financial product negotiations, among others.

It should be noted that the CLS Group publication does not mention that these are solutions that include cryptocurrencies so they would only be blockchain applications aimed at facilitating traditional banking operations.

IBM and CLS Group to develop LedgerConnect based on blockchain technology for banking operations

The promoters of this initiative, both IBM, and CLS, will carry out a proof of concept of this platform with the participation of banking institutions such as Citigroup and Barclays. It should be noted that, following this proof of concept and the approval of relevant regulations, IBM and CLS plan to offer LedgerConnect to the industry.

LedgerConnect is part of CLS’s strategy to explore how we can provide secure and robust solutions that create efficiencies and reduce the risk for a wide range of companies operating in the financial markets. We expect LedgerConnect to deliver better efficiencies and economies of scale over distributed, single-purpose accounting networks.

Alan Marquard, the CLS Director of Strategy and Development

Marie Wieck, CEO of IBM Blockchain, said that “LedgerConnect has a unique position as a blockchain technology solution for the financial services industry,” which will help drive innovation in the industry.

Without a doubt, IBM has been one of the pioneers in the development of blockchain technology for different industries. One of its latest initiatives was the creation of a blockchain research center towards data transparency. On the other hand, banks around the world have conducted tests to determine the efficiency of the distributed ledger technology in their services.

Categories
Crypto News

Genesis Mining, The Leading Cryptocurrency Cloud Mining Firm, To Reopen Its Operations In South Carolina

Genesis Mining recovered its permits to operate in South Carolina after the South Carolina Securities and Exchange Commission issued an order in March this year for the leading cryptocurrency cloud mining firm and its subsidiaries to cease operations in the state. The company is now preparing to re-launch its products in the US soon.

We are pleased to announce that the South Carolina securities division dismissed the March 9th, 2018 decree that prevented Genesis Mining from continuing its operations. One of our principles in the company is transparency. After all, it is a core value of blockchain technologies. Over the past 5 months, we have worked closely with the South Carolina authorities to educate and provide them with a unique perspective on cryptomarket mining, blockchain networks and the decentralized nature of our technology.

Shah Hafizi, Chief Compliance Officer, Genesis Mining

In the official announcement published on July 26th, Tracy Meyers, financial commissioner of the South Carolina Securities Division, said that some allegations were taken into account to put an end to this legal decree initially issued a few months ago.

The South Carolina authorities forced Genesis Mining to cease its cryptocurrency cloud mining operations in March

Initially, Genesis Mining was ordered to cease because the contracts offered for cryptocurrency cloud mining generated an expectation of profitability from outsourced efforts, in addition to the fact that this company and its subsidiary Swiss Gold Global were not legally registered as brokers.

The latter company invests in gold and silver, but soon after its launch decided to enter the cryptocurrencies markets. In principle, it had been considered by the state’s financial authorities as a trader of Genesis Mining products and assets without having the legal power to do so.

Genesis Mining has been offering cloud mining services since 2013 and is one popular investment mechanism among those taking their first steps into cryptos or for those who want to make a profit on these financial tools. It is now one of the largest cryptocurrency cloud mining companies in the entire blockchain industry.

Categories
Crypto News

Ethereum (ETH) Improves Day By Day – Constantinople Hard Fork Coming Soon

On 27th July, Ethereum developers announced that the new Ethereum hard fork, Constantinople will be released sometime during the second week of October. The announcement was made during a developer and stakeholder meeting that addressed the issues in the blockchain and cryptocurrency industry with a focus on further upgrades.

The developers also revealed that the test code for the hard fork is being run multiple times by the Foundation and that the principal objective is to make sure the transition occurs smoothly. The Ethereum team has also stated that the hard fork will be created to usher in a new age of blockchain network usage. The developers have also said that they are going to make the Mainnet less expensive and much more efficient to use.

A fact was revealed by the officials of the Ethereum foundation:

“Some of the updates that have reached the implementation phase include EIP 210, which reorganizes the way block hashes are stored in Ethereum, and EIP 145, which increases the speed of arithmetic in the Ethereum virtual machine (EVM). “

You should also expect some other updates such as status channels and different ways of smart contracting with others.

Byzantium has some new features, and here they are:

  • Receipts will have embedded transaction status codes

The Byzantium hard fork lets users do parallel processing of multiple transactions so the task execution will speed up.

  • Cryptography is enhancing

Zk-snarks will be enabled with less power which will be reduced by the four smart contracts which will be implemented.

  • Lesser rewards

After building blocks, others are rewarded. Now, because of Byzantium changes, they will receive three instead of five ethers per block.

In case the users will not be happened with the change, as in 2016, it is still to be seen what will happen.

Categories
Crypto News

Crypto Trading Tips & Most Frequent Mistakes To Avoid

Trading crypto is a challenging way to spend your time and money. Transactions involve a rapidly changing process and they usually the cryptosphere is flooded with various events some of the being consequences of transactions and deals. It’s best to try and improve all of your trading skills and understanding of the crypto markets if you want to be successful in this business. The main advice that we have is to start using a cryptocurrency calculator to make sure you’re correctly converting your fiat/crypto. This is the essential thing you should know about. Here are a few more tips that will guarantee you successful transactions and investments.

Placing commands properly

A coin’s value is determined by the last executed transaction and it’s at the junction between buyers and sellers. The supply and demand commands are placed in a table which is known as the order book. The crypto space is all about volatility, and you will have to learn how to identify both resistance and support areas correctly. For this, you will have to analyze the graph of a coin. You have to watch out for sell levels to take profit and stop levels to minimize loss.

Understanding graph analysis

Most cryptos are traded against the USD and analyzing the graphs of these coins will have to be made while comparing them to their Bitcoin graph and their dollar value graph.

Get over your emotions

As cheesy as it may seem, you have to get over your feelings after you’ve experienced an unsuccessful trade and you have to be ready for everything while you’re in the cryptosphere because risk lurks at every corner. Don’t ever regret missed profit and don’t ever feel guilty about lost trades.

Here are some common mistakes that entry-level crypto enthusiasts usually make:

Don’t search for crashed coins

This is a mistake that many crypto enthusiasts make. They’re searching for crashed coins, hoping that they’ll eventually go up again. Well, it’s time you learned that this doesn’t always happen, so don’t count on it.

Don’t just look at a coin’s price

Instead of looking at a coin’s price, you should be looking at its market cap. The same way that you assess a company by its market cap performance, the same way you should do for cryptos. When you’re examining potential investment in certain coins on CoinMarketCap for instance, make sure to look at their market cap and focus less on the price of a single currency.

Don’t invest all your money in a single crypto

Usually, it’s best to keep Bitcoin as your base asset and have a varied wallet. Look at the bigger picture and don’t forget that investing in crypto is just an investment option and there are others available as well which include real estate, stock markets, and more investment opportunities. It’s vital to spread the risk among the crypto portfolio and in the whole investment portfolio.

Closing words

A good dealer always acknowledges the mistakes and analyzes them in order to learn something and improve the skills for future understanding of the market.

Exit mobile version