Aragon ANT

Market Cap $ 19.846 MM (#217)
24h Volume $ 226.058 K
Chg. 24h: -5.95%
Algo. score 3.6/5  (#146)
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Aragon News

The AGP-1 vote for all Aragon Network Token holders begins N...

The AGP-1 vote for all Aragon Network Token holders begins Nov 15th. In this vote, ANT holders will vote on the new…

7 hours ago

What is in a Stablecoin? A China Perspective on Tether and Stablecoins

TL:DR With lately an increasing focus on a stablecoins narrative in the Crypto industry, and ongoing chatter about Tether breaking its peg to the dollar since beginning of October, I want to shed some light on stablecoins from a Chinese digital payment perspective and provide some thoughts on Tether. Alipay and Wechat Pay’s digitally RMB have stood out to me recently as having a few shared similarities with the current stablecoins space, in ways that I believe may surprise our readers. So I propose the question- what’s really in a stablecoin and what are ways a stablecoin can be successful? — — — — — - First, a Quick Background on Stablecoin and the Latest with the Stablecoin Happenings in the US, Skip Directly to the”China Perspective” If You’ve Already Been Following the Space Closely Stablecoins are digital currencies pegged to a stable asset, such as gold or fiat currencies, or backed by collateral (that could also be a cryptocurrency). Most common examples include Tether, MakerDAO, Basis and Terra. Folks that have also raised money but on a smaller scale are Carbon and Celo. Most recently, numerous institutions have made way into stablecoins. IBM most recently announced its exploration into stablecoins through a collaboration with Stellar by building a stablecoin on the Stellar blockchain. Additionally, a number of stablecoins have come out in the last few months, from the crypto exchange Gemini issuing the Gemini Dollar and financial blockchain solution Paxos issuing the Paxos Standard. There are also other stablecoins such as Terra that is looking to implement a stable coin through e-commerce. Stablecoins have been in development for some time in the US, with multiple companies raising large sum of money to create a price-stable coin since early 2018, including Carbon, MakerDAO, TrustToken. The company Basis raised the most money amongst them, a whopping $133 million in earlier 2018. Thus far, project teams have been heads down developing detailed mechanics of their own coins, and they have been independently working with regulators to ascertain the future of stablecoins and their role in it. In most of the stablecoin teams’ mind, there should be only one or just a few stablecoin winners that could capture most of the mind share, and create products and an ecosystem that uses its cryptocurrency. This creates an invisible divide in the ecosystem with the coins and tokens all trying to outcompete each other, and hinders the development of standards. Given that cryptocurrency price volatility continues to be an obstacle for institutions looking to adopt the technology, it is likely that other financial and consulting institutions will turn to stablecoins as a way to support their existing customers and bring new crypto-curious customers in. A China Perspective on Stablecoin You may be surprised that I am talking about Alipay and Wechat Pay in the same sentence as stablecoin, but funny enough, these Chinese local payment systems’s digital RMB exemplify strong similarities to the current stablecoins. Here is how the Financial Times describes Alipay and Wechat Pay: “Chinese mobile payment transactions reached Rmb109tn ($16tn) last year, according to research firm Analysys Mason, as consumers switched to smartphones from cash for supermarkets, taxis, and payments to friends. The platforms are also increasingly used to purchase mutual funds, peer-to-peer loans and other wealth management products. Ant Financial’s Alipay and Tencent’s WeChat Pay dominate the industry, with market shares of 54% and 39% respectively in the first quarter. Ant Financial is the finance affiliate of Alibaba. Together the two groups control hundreds of billions of renminbi in customer funds that accumulate on their platforms when users receive payments but do not immediately transfer the funds to a bank account or other investment. Previously, third-party payment groups were permitted to invest customer funds, much as banks use deposits to make loans and other investments, even though unlike banks, the payment groups pay no interest to users.” Sounds familiar to anything in Crypto? To me, Alipay and Wechat Pay’s digital RMB share some fundamental traits as stablecoins — a digitally transferred currency, pegged and backed by fiat (the yuan in this case), and representative of a deposit “certificate” issued by a private company (which is what increasingly more crypto companies are doing). Take just Alipay for instance. Alipay is China’s leading third-party online payment solution, founded by the Alibaba Group and its founder Jack Ma in February 2004. Currently Alipay’s digital yuan are pegged to the Chinese Yuan at a ratio of 1 to 1. But when we made payments on the platform, how we do know there was actually a Yuan reserve backing these payments? Well, we didn’t know. AND, there wasn’t a Yuan reserve. In fact, the Yuan reserve wasn’t required. Alipay and Wechat pay did not have actual assets backing its payment system for over 10 y

4 days ago

People who use mobile fintech apps tend to make worse financial decisions

One of the wonders of the modern life is all of the whizzy technology available to help us manage our money. But does it mean we make better financial decisions? Maybe not. A study of mobile-payment using millennials (ages 18-34) in the US found they were less likely to be financially literate than others of the same age who didn’t pay for things with their phones. They were also more likely to make other bad financial decisions, like overdrawing checking accounts, racking up credit card fees, borrowing from payday lenders, or dipping into their retirement accounts early, according to research by the Global Financial Literacy Excellence Center at the George Washington School of Business. Paradoxically, this is the case even though mobile-payment users tend to have more assets, make more money, and be better educated. Research also found (pdf) that one-quarter of people who use their phones to track spending reported overdrawing their accounts, compared with 20% of those who didn’t use their phones for this. What gives? One possibility is that electronic payments make spending too easy and budgeting more difficult. It lacks the tactile, heart-sinking experience (for some) of seeing a $50 bill return as smaller notes after a purchase. “In the data we do not have information about what explains that behavior, but making payments easy and mindless may induce people to spend more,” Annamaria Lusardi, a professor at George Washington School of Business, said in an email. Mobile payments at the point of sale—think Google Pay or Apple Pay—tallied $70 billion in the US last year and are forecast to increase to around $370 billion in 2022, with the number of users increasing from 50 million to 90 million during that span. (China, meanwhile, has more than 500 million mobile wallet users.) Around nine out of 10 American millennials have smartphones and half of them use the devices for payments, according to a 2016 survey. Behavior Mobile-pay users Non-users Occasionally overdraws checking account 21% 18% Charged an over-the-limit credit card fee 17% 8% Withdrew from retirement account 37% 9% Took out a payday loan 22% 9% Took out an auto title loan 16% 5% Source: George Washington University School of Business The good news for tech entrepreneurs is that technology can present solutions to the problems that tech itself creates. Imagine if your phone vibrated more violently when you made bigger purchases. Perhaps the home screen could flash a warning when you buy a pair of jeans identical to all the other jeans you’ve added to your closet recently. (That could be annoying enough to drive people back to cash.) In the end, though, technology isn’t a substitute for basic financial education. The research suggests that people with a basic level of financial literacy made better decisions, whether or not they used fintech apps on their phones. The future of finance on Quartz Kenya’s biggest mobile money service is going global. M-Pesa signed a deal with Western Union that will allow users to send money all over the world. The 401(k) is forty and fabulous. The “Julia Louis-Dreyfus of saving vehicles” is just getting started. Missouri and Arkansas have embarked on a bold experiment: The states voted for big increases in the minimum wage in the US midterm elections. What happens when lifestyle reporting crosses into crypto journalism? You get a fact-checked Gwyneth Paltrow Q&A featuring Quartz’s travel and crypto reporters. US businesses are getting old. A lack of startups means half of companies have been around more than a decade. The future of finance elsewhere Plaid could reportedly be worth as much as $3 billion. The company’s technology connects banks with third-party apps. Square’s latest quarterly earnings guidance disappointed traders. Square CFO Sarah Friar, seen as a vital sherpa for the payment company, is leaving to run Nextdoor. Ant Financial swung to a loss. The company is in a battle with Tencent for customers and is reportedly (paywall) spending on overseas expansion. Personal finance company Credit Karma acquired Noddle, a free credit reporting and monitoring service that’s based in the UK. Credit Karma says it counts nearly half of US millennials as users. Online lender LendingClub beat analysts’ earnings expectations and raised its forecast. The company originated $2.9 billion of loans in the third quarter, the most ever. The online small business lender OnDeck Capital also beat estimates. Previously, in Future of Finance Friday Oct. 5: Elon Musk had a radical, revolutionary idea for finance in 1999 — it’s finally being realized Sept. 28: A booming Stripe shows digital payments aren’t about to be replaced by blockchain Sept. 21: The godfather of crypto has a plan to keep digital payments and messages private

5 days ago

Want to learn how you can use Aragon 0.6 to create your own ...

Want to learn how you can use Aragon 0.6 to create your own decentralized organization on Ethereum? Check out the n…

6 days ago

.@AragonProject Aragon 0.6 is live on Mainnet. Using Aragon ...

.@AragonProject Aragon 0.6 is live on Mainnet. Using Aragon 0.6, named Alba, you can now create Aragon organization…

6 days ago

@licuende at CV Summit presenting Aragon usecases: from the ...

@licuende at CV Summit presenting Aragon usecases: from the most micro organizations (as a family DAO) to macro org…

7 days ago

Crypto Mining Startup Bitfury Secures $80M From Galaxy Digital, Others

Bitfury Gains Traction, Secures Millions In Venture Capital Even though you may not know of Bitfury, the crypto- and blockchain technology-centric startup has been making waves in the mining subindustry, in spite of the dismal performance of the cryptocurrency market, which has seen the aggregate value of all digital assets take a 75%+ haircut. Per an official announcement from the London-based Bitfury Group, which is self-proclaimed as “the world’s leading full-service blockchain technology company,” has just concluded a private funding round that will see 80 million U.S. dollars enter its coffers, so to speak. The private placement was reportedly led by Korelya Capital, a Europe-focused “growth capital” fund backed by Korean powerhouse Naver Group, with other prominent funds and investment consortiums, like Macquarie Capital, Dentsu, Armat Group, among others. Interestingly, or unsurprisingly in the eyes of some, Mike Novogratz’s Galaxy Digital joined the fray, also throwing capital at the mining-centric startup. This comes just days after Novogratz claimed that Bitcoin (BTC) could be poised for a breakout past $10,000 (and its all-time high) as 2019 rapidly approaches and Bakkt, Fidelity Digital Asset Services, along with other promising crypto platforms go live. Alluding that Bitfury’s business ambitions may be undergoing a U-turn, Chief Executive Officer Valery Vavilov noted: This private placement reflects our achievements, and it recognizes our ability to address adjacent market segments in high-performance computing, including in emerging technologies like artificial intelligence (AI), The industry leader went on to add that the “institutionalization of blockchain and cryptocurrencies” is a natural step for Bitfury to foray into, which is entirely logical when considering the fact that the crypto upstart has released an array of new products/platforms pertaining to software, like Exonum and Peach. Commenting on his investment, Novogratz expressed his excitement, claiming that Galaxy Digital is “excited to partner with Bitfury” — subsequently adding that he is impressed with what Bitfury’s “unparalleled” team has accomplished and has in store for the future. This news comes just five weeks after the startup revealed its next generation of Bitcoin SHA-256 ASICs, which are slated to outpace (and outhash) a majority of its competitors, such as mining machines from E*Bang, Bitmain, and Avalon (Canaan Creative), for a lower cost. Speaking on the development, the startup’s chief executive noted that his firm is doing its best to maximize return-on-investment (ROI) for its client. Vavilov added: “Bitfury is looking at all factors, including silicon packaging, chip efficiency, optimal power distribution, cooling designs and speed of development when designing our mining hardware ... We think that this will lead to solutions that deliver the best ROI to our customers - regardless of ASIC size.” Although Bitmain has since made moves issue a similar announcement, which arguably ousts Bitfury Clarke, as Bitfury’s processing chip has been dubbed, many see the two aforementioned developments as promising signs for Bitfury. And, moreover, others would argue that this further cements the crypto industry’s legitimacy in the global venture capital space, which is a welcome step in the right direction. Title Image Courtesy of Ant Rozetsky on Unsplash The post Crypto Mining Startup Bitfury Secures $80M From Galaxy Digital, Others appeared first on Ethereum World News.

7 days ago

Blockchain Technology will be Used in Product Tracking soon, Says the Newly On-Board CEO of Alibaba

According to China’s Finance News, at China’s first Import Business Leader Summit, Zhang Yong, the CEO of Alibaba group said that the whole social, commercial economy will be digitized. He mentioned that during "double eleven" spending season, the customs have updated the inspection and clearance on "points" and expanded to data exchange and process integration. The even have conducted the pressure tests. Besides, he noted that blockchain technology will witness increasing adoption on the product tracking soon. Alibaba reportedly has been pouring investment in blockchain technology development and has built Ant Blockchain to track donations. (RL)

7 days ago

Do you have questions about AGP-1 before the ANT vote on Nov...

Do you have questions about AGP-1 before the ANT vote on November 15th? Ask AGP-1 author @lightcoin anything about…

8 days ago

Only One More Day to Apply for Boost VC Startup Program

Cryptocurrency startups allow this nascent ecosystem to grow and expand. Boost VC plays an integral role in this regard. The pre-seed venture fund makes strategic investments in such startups through its accelerator program. Interested parties have one day left to sign up for the Tribe 12 class. Boost VC Calls for Startups Over the years, the Boost VC firm has become synonymous with blockchain and cryptocurrency. Numerous projects apply to enter its accelerator program every single time. Of those entrants, over six dozen have received an investment from Adam Draper’s firm. While not every single one can be successful, nurturing further cryptocurrency growth is critical for this industry. For its Tribe 12 accelerator program, a final call was sent out to startups. Boost VC is looking for aspiring firms which adhere to several guidelines. Blockchain interoperability tools appear to be in high demand at this time. Regulatory arbitrage is another area the investment firm wants to help explore. Furthermore, any startup building front ends for blockchains or dApps is also more than welcome to apply. It is worth mentioning Boost VC has a proverbial finger in many pies. Some of its successful mentored projects include EtherScan, Aragon, and MyCrypto, among others. The company is intent on keeping this streak alive as long as possible. Bitcoin’s tenth birthday is around the corner, which marks an important milestone for the entire industry. Taking Cryptocurrency Mainstream One of the main problems affecting cryptocurrency is the lack of mainstream appeal. That is a problem which is not easy to overcome. Boost VC can play a key role in helping startups reach the next level to pursue mainstream adoption. Finding the missing pieces to the overall puzzle is an ongoing process at this time. While the firm is looking for “specific” projects, any startup is free to apply. Every use cases will be weighed carefully before making a final decision. Taking cryptocurrency mainstream requires innovative ideas. There is no “killer app” for any project as of right now. Accelerators like these can help shape such ideas into viable real-world concepts over time. There is a strong focus on regulatory efforts pertaining to cryptocurrencies. Accelerators such as Boost VC pay careful attention to these developments. They aid companies in ensuring their service is compliant at all times. The company’s global investment strategy resonates well with startups taking advantage of specific regions’ guidelines. That will be a key component to taking this nascent industry into the mainstream. Do you think that Boost VC can help facilitate the mainstream adoption of cryptocurrency startups? Let us know in the comments below. Images courtesy of ShutterStock The post Only One More Day to Apply for Boost VC Startup Program appeared first on Live Bitcoin News.

14 days ago

RT @licuende: Come to our Aragon hangout at 7:30pm today! 🍻🥂...

RT @licuende: Come to our Aragon hangout at 7:30pm today! 🍻🥂#devcon4 #ReactiveConf

14 days ago

Decentralized organizations just got real, Aragon 0.6 is now...

Decentralized organizations just got real, Aragon 0.6 is now live on Mainnet! Using Aragon 0.6, named Alba, you c…

14 days ago

Aragon co-founder @licuende will be going on-stage at @React...

Aragon co-founder @licuende will be going on-stage at @ReactiveConf in five minutes (10:30am CET) with a presentati…

15 days ago

Introducing the next step in decentralizing Aragon's develop...

Introducing the next step in decentralizing Aragon's development. Flock, funding for Aragon teams. Learn more ab…

15 days ago

The Aragon Dream DAO party in Prague #Devcon4 is officially ...

The Aragon Dream DAO party in Prague #Devcon4 is officially SOLD OUT! But you can still attend if you can help us…

16 days ago

Boost VC Issues Call for Crypto Startups

Technology startup accelerator Boost VC has announced that it is accepting applications from crypto startups to join Tribe 12, its latest accelerator program cohort. Since 2012, Boost VC has graduated several cohorts with more than 75 crypto-related projects including prominent blockchain projects like Etherscan, Aragon, and MyCrypto. According to the announcement, which appeared in a Medium post, The post Boost VC Issues Call for Crypto Startups appeared first on CCN

16 days ago

Luis Cuende (@licuende), Co-Founder of Aragon (@AragonProjec...

Luis Cuende (@licuende), Co-Founder of Aragon (@AragonProject), sits down with Adam Dossa, Polymath's Senior Solid…

17 days ago

Alibaba Offers its Blockchain Product to the Rest of the World

Chinese conglomerate, Alibaba, is expanding and offering its Blockchain as a Service (BaaS) product to clients in Asia, Europe, and the U.S. It’s no secret that China isn’t really that fond of cryptocurrencies but blockchain technology is another matter altogether. The country is leading the way when it comes to filing blockchain patents. Even its central bank is fully embracing the technology. Alibaba Enjoys Global Expansion Now, according to Asia Times, one of China’s biggest businesses is branching and spreading the blockchain love. Major e-commerce giant, Alibaba, is expanding its Blockchain as a Service (BaaS) product to the rest of Asia, the U.S. and to Europe. It will be launched in 19 regions with the assistance of 52 of the company’s data centers. Introduced in China in October last year, Alibaba Cloud’s BaaS product offers users a range of services that allow them to build and host their own blockchain-based products. These include apps and smart contracts. The company states that it offers “an enterprise-level platform service based on leading blockchain technologies [that] helps customers build a secure and stable environment for blockchain implementations.” The Senior Staff Engineer and lead of Alibaba Cloud Blockchain, Yi Li, added that BaaS has a goal to “become a technology partner that enables companies that wish to use blockchain to accelerate their digital transformation”. IBM Does it Again The product uses Alibaba’s Ant Blockchain platform in conjunction with IBM’s Hyperledger Fabric technology. IBM has been very busy when it comes to blockchain-based solutions. The tech giant is collaborating with retailers and even federal agencies either directly or through platforms that make use of its innovative technology. Brian Behlendorf, who is the Executive Director of Hyperledger, showed his excitement at the growth of BaaS saying that this expansion will bring “more exciting innovations to the global blockchain communities”. He added that “2018 is set to be another blockbuster year for the industry”. We know that blockchain technology is versatile and can be used in a range of industries that rely on record-keeping such as supply chain management and healthcare, which are, in actual fact, what some BaaS-developed apps were created for according to Alibaba. The company is still improving their services while expanding to the UK. It has opened two new data centers, which, according to Alibaba Cloud’s EMEA general manager, Yeming Wang, will employ “AI-powered and data-driven technology” that will allow the company to offer services ranging from “machine learning capabilities to predictive data analytics”. So while China is cold on crypto, they’re definitely on fire when it comes to blockchain exploration. However, it’s not yet clear how the country’s latest plan to regulate blockchain will impact on the adoption of its services in the country. Have you made use of any of Alibaba Cloud’s services? Let us know in the comments below! Images courtesy of Pixabay and Shutterstock. The post Alibaba Offers its Blockchain Product to the Rest of the World appeared first on Live Bitcoin News.

18 days ago

In Prague for @ReactiveConf? Meet and hangout with Aragon co...

In Prague for @ReactiveConf? Meet and hangout with Aragon co-founder @licuende at Bad Flash Bar on Tuesday starting…

18 days ago

Five new teams have been awarded grants with funding from Ar...

Five new teams have been awarded grants with funding from Aragon Project. We're excited to have more teams working…

19 days ago

Alibaba Launches Its Blockchain Cloud Service To International Markets

Chinese ecommerce giant Alibaba has started offering its Blockchain-as-a-service (BaaS) product to international markets. Alibaba is targeting markets of South East Asia, North America, and Europe. It has integrated Linux Foundation's opensource Hyperledger and that of Ant Financial Services Group, which is partially owned by them. Alibaba customers can use its service to build blockchain applications for various purposes, including management, automatic deployment, control and maintenance of daily activities. Alibaba initially launched its BaaS product for the Chinese market in 2017. Early this week, American software company Oracle also launched a similar BaaS product for its customers. (VS)

19 days ago

Ripple Releases Its Schedule of Appearances at Money20/20 USA

The Money 20/20 USA will be a star-studded event as several representatives from the crypto company Ripple will be in attendance. The conference aims to improve blockchain and digital assets based global payments and how the two revolutionary technologies could be used to create value for consumers around the world. The company recently released a schedule of attendances at the Las Vegas event on its website. Appearances on Monday and Tuesday The event will be attended by 11,000 people, including several business leaders, C-suite, and media from around the globe. The event will be attended by Ripple executives David Schwartz and Kahina Van Dyke on October 22. Schwartz will be attending an “Oxford-style debate” moderated by Tony Hayes in the morning where he will be promoting solutions that blockchain technology could bring to the international payments system. He will be sharing the stage with Esther Pigg, the SVP of product strategy at FIS Payments who will defend the existing legacy payments infrastructure. Kahina Van Dyke will be attending the afternoon session as part of the Money 20/20 Rise Up program. She is the powerhouse speaker for the inaugural program and will share her insights on the fundamentals of negotiation and how it could be applied to leadership ideas, based on her experiences in banking and technology companies. Tuesday’s session will be attended by Asheesh Birla who will be a panelist in a session dedicated to blockchain’s impact on the cross-border payments industry. Forrester’s principal analyst Brendan Miller will moderate the panel. He will also be talking about bringing Ripple’s products to market and how they have made cross-border payments faster than before. He will be sharing the stage with Ant Financials’ chief compliance officer for Americas Victoria Liu Edison, Dan Vogt, the head of new technologies at Wells Fargo and Sebastian Katovich, co-founder and CEO of dLocal. Chris Larsen’s Appearance on Money 20/20 Ripple chief Chris Larsen will be attending the conference on Wednesday, October 24, where he will participate in a candid fireside chat about the significance of digital assets in the global economy. The chat will be moderated by Arjan Schutte, Core Innovation Capital’s founder, and managing partner. A longtime supporter of financial inclusion and former CEO of Prosper and E-Loan, Larsen believes in creating an Internet of Value “to enable the world to move money like information moves today.” Ripple Releases Its Schedule of Appearances at Money20/20 USA was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

23 days ago

Reminder: the public comment and review period for AGP-1 is ...

Reminder: the public comment and review period for AGP-1 is open until November 9th. ANT holders will then vote to…

25 days ago

Will The ‘Ethical ICO’ Atone For The Father’s Sins?

It’s fashionable to disparage initial coin offerings (ICOs): the choice fundraiser for the cowboy, the con and the scam. With a tarnished name, few legitimate projects chose to go down the ICO route. The crowdfunding platform,, closed its doors in September complaining the ICO market ultimately hurt investors. It’s a low ebb. But one British-based project thinks it can still be used; if it’s an ethical ICO, anyway. Holding company Investx announced on Thursday that their planned public sale for the INX utility token would follow strict principles to reduce the risk for investors. This will include the creation of a reserve fund as well as a sustainable token supply. The company has brought on David Atkinson, Director of Holochain (HOT), to advise and assist the development of an ethical ICO. “We [Investx] wanted to differentiate our ICO by openly committing to ethical ICO principles”, said Peter Edgar, CEO of Investx. “These are steps we’ve taken to stabilise the token, lay foundations for future growth, and commit to transparency that holds us accountable to token holders.” The funds will go towards Investx’s new blockchain equity platform. Based on the Ethereum (ETH) network, INX tokens can be used to buy equity in private companies, which they can keep or sell, in or outside the ecosystem. Although companies hosted on the platform will have the option of accepting INX for equity, Investx will have a fiat currency reserve relative to the number of tokens in circulation, which can be used to buy equity on the token holder’s behalf. Investx argues that their blockchain model would open up SME (small and medium-sized enterprise) investment to a wider variety of investors, including even retail investors. The UK’s Financial Conduct Authority (FCA) has so far given their approval. The Ethical ICO There’s not much separating an ethical ICO from a good ol’ fashioned ICO, at a primary level anyhow. They are both crowdfunding strategies that sell utility tokens to investors on the understanding that there will be a use, a ‘utility’, for them when the platform is fully operational. This makes them different to a security token offering (STO), which are bought on the prospect of a future monetary return: similar to shares sold in an Initial Public Offering (IPO). But enough anacronyms. Interested to know a little bit more, Crypto Briefing decided to talk to Atkinson about what he meant by an ethical ICO and what separated them from other forms of tokenized crowdfunding models. Atkinson joined Investx about a year ago as the project’s main advisor. CEO Peter Edgar had approached him and the Holochain team about running an ICO. Edgar was attracted to Holo’s own ICO, which they called ethical and were in the process of developing at the time. Before long he asked Atkinson if he would help Investx run a public sale along the same lines. For Atkinson, an ICO can be considered ethical if the token sold actually has real utility, based on a real need. He explains that the project has to outline in its whitepaper what the token’s future purpose is, and how exactly it would benefit holders. Referring to a “demonstration in demand”, Atkinson argues that investors need to be told how these tokens address a problem that would otherwise remain unsolvable. “It’s on the projects to clearly represent their product and show there is a demand for what their building”, Atkinson explains, over the phone. “With Investx for example, they have to be able to show that there are private buyers who want to buy equity in private companies through blockchain”. Atkinson points out that a clear, outlined use case makes Investx’s ICO ethical, compared to some of the other token sales that have happened in the past. INX holders won’t gain any benefits just from ownership. They are not security tokens. He explains that the tokens have utility because they make equity purchases easier. Investors using INX tokens can bypass the frictional and legal costs as well as the time delays normally associated with buying equity. “This is what the asset is; this is its utility”, he says. The ICO space today Projects used to be able to raise millions of dollars by holding an ICO. Market euphoria and the promise of near-instant returns turned public sales into feeding frenzies. Some public sales in 2017 hit their hard caps in a day, a few sometimes in less than an hour. Aragon (ANT) raised $25m in less than 15 minutes; the public sale for the Basic Attention Token (BAT) raised $36m in around 30 seconds in May of last year. The landscape looks different in 2018. The perceived wisdom now is the projects heading down the ICO route originally failed to receive sufficient funding from venture capital. There is far less money going into ICOs than there was last year. Business Insider reported earlier this week the amount raised last month was the lowest since May 2017. With notable exceptions - TaTaTu and EOS spring to mind - few come close to their targ

25 days ago

Apple is becoming a formidable fintech company

A growing anxiety for bank executives is how and when big tech companies will encroach on their turf. During its quarterly earnings call yesterday, Apple CEO Tim Cook gave some insight into the company’s progress in becoming something of a fintech player: Apple Pay transactions tripled from a year earlier, to more than 1 billion. Cook said that was more than Square and exceeded mobile transactions via PayPal. The worry for finance executives is that payments are just the beginning. Alibaba affiliate and fintech giant Ant Financial expanded from payments and into wealth management. According to analysts at research firm Bernstein, the Chinese company now runs a robo-advisory service that uses artificial intelligence based on payment activity to suggest investments. “The core payments service acts as a gateway to a broader use of service,” the analysts wrote. “This is a model other tech companies could follow.” One way American banks have sought to keep up is through Zelle, a money transfer service (paywall) owned by the largest US lenders. The service launched in June 2017 to help banks compete with peer-to-peer payment apps like PayPal’s Venmo and Square’s Cash App. Zelle, which is also integrated into member banks’ apps, is expected to overtake Venmo this year in terms of users, according to a forecast by eMarketer. It will grow more than 73% in the US, to 27.4 million users by the end of the year, pulling ahead of Venmo, with 22.9 million users, and Square Cash, with 9.5 million. Google, meanwhile, has its Google Pay service, while Facebook’s WhatsApp is rolling out a payment feature. Facebook’s payment efforts in India reportedly hit a snag, with officials scrutinizing how user data is used and stored (not to mention broader concerns about the app’s role in proliferating fake news). While Android Pay and Samsung Pay have a larger potential user footprint, research analysts at Juniper forecast Apple Pay will have 227 million users by 2020, more than Android and Samsung combined.

a month ago

As tech giants like Facebook stumble, analysts say payment companies are a better bet

Big Tech companies have hit a speed bump. After powering market gains in recent years, investors are questioning whether the likes of Facebook can keep growing at awe-inspiring rates. With business models that rely on selling user data to advertisers are under fire in Washington and Brussels, there are better ways to bet on technology, some market watchers say. Analysts at Morgan Stanley have recommended rotating out of technology stocks; they think payment businesses like Visa, PayPal, and Worldpay are better bets for investors’ portfolios. Even if the economy slows down, such companies will benefit from growth in electronic transactions as well as consumer spending, which tends to hold up better than most investors appreciate, they said. “These are some of the best businesses there are,” a research note reads, written by analysts led by James Faucette. While Amazon has soared some 80% over the past year, investors are fretting about whether companies like Netflix, whose subscriber growth recently missed forecasts, can keep up the pace (it’s up by 84% since this time last year). Facebook has plunged by almost a fifth (paywall) after warning revenue growth could slow, raising questions about growth of its user base and its ability to sell advertising amid data-privacy concerns. While payment companies are far from unscathed—PayPal has fallen by about 10% in the past week—Morgan Stanley thinks these firms have bright prospects. Amid fears of Amazonification and the retail sector’s continuing shift online, small- and medium-sized business are willing to pay extra for payment services, whether for cyber and fraud security or customer analytics, the analysts said. Some companies also benefit from barriers to entry. Visa and Mastercard run payment networks that are difficult to replicate. At the same time, the total purchase volume on cards will increase to $28.3 trillion by 2020, from $20.9 trillion last year, according to Morgan Stanley forecasts. Corporate payments are also a big opportunity: In the US, more than half of the $16.5 trillion of annual business-to-business payments are still made by check. And then there’s the chance for buyouts to boost share prices. Some companies may look to purchase payment firms to obtain their technology and increase in scale. The fear of Chinese fintech giant Ant Financial could add urgency to the industry’s mergers and acquisitions spree. As the Alibaba affiliate looks for growth (paywall) outside its home market, incumbents may feel the need to bulk up more quickly to compete.

a month ago

Tesla and Spotify say public markets have major flaws. Do they have a point?

According to two prominent executives this week, the stock market isn’t all that it’s cracked up to be. Initial public offerings are broken, according to Spotify CFO Barry McCarthy (paywall). Tesla CEO Elon Musk says stock investors are too focused on the short-term, and his threat to take the company private sent traders, bankers, fans, and government watchdogs into a tizzy. McCarthy and Musk aren’t alone in their worries. The number of IPOs and listed companies in the US is shrinking: There were an average of 310 public offerings annually from 1980 to 2000, according to an analysis by Jay Ritter, a finance professor at the University of Florida. The average has slipped to 108 since then. A common complaint is that public markets are too demanding. It’s expensive to comply with regulations, and these days there’s ample private money available for companies to tap without all the hassles of dealing with analysts, short sellers, quarterly reporting, and the rest of it. There are many factors at work (pdf). Ritter, who has personally been short Tesla for the past few weeks, says IPOs have dwindled mainly because small companies are getting gobbled up by larger ones. Regardless, the abundance of cash for investment has enabled entrepreneurs to agitate for change. For Spotify’s McCarthy, the “elephant in the room” is the discount given to institutional investors on shares before a company begins trading. This is the reward they get for risking money on an untested company. The reason bankers underprice IPOs so routinely is to reward clients who overpay them on commissions for other things, says Ritter, who is known as Mr. IPO. Spotify’s non-traditional direct listing skipped this step. It went directly to the public, saving some money on fees and potentially much more on the IPO discount. If the company needed to raise capital, McCarthy argues the company could issue more shares to do it, and at a slimmer discount than in an IPO. Other businesses could, too. Musk has other concerns, like short sellers and the distractions of running a listed company. But stock investors, despite their reputation for short-termism, have actually been generous and patient with Tesla (paywall). Maybe too generous, which is why so many short sellers are betting it’s overvalued. There are other companies with better autonomous driving technology, and other (profitable) car makers can also make electric vehicles, Ritter says. Even so, Mr. IPO concedes that “this week has been painful.” If Tesla could point to profits and cash flow, maybe Musk could dismiss the flock of short sellers circling the company. As Stephen Miles of Livingstone Partners points out, when you’re selling a dream, you can’t ignore the people betting against you. Tesla and Spotify have different complaints, but their comments this week show that they aren’t beholden to the way things have been done traditionally. Entrepreneurs have more options than they used to, suggesting the stock market could become more friendly to startups, and less so to Wall Street, in the coming years. The future of finance on Quartz We’ve reached peaked blockchain—in terms of hype, at least. While enthusiasm fades, IBM, which leads other tech companies in distributed-ledger investments, still believes in its world-changing potential. Amazon customers aren’t paying for things with Alexa, according to a report. Instead of becoming an algorithmic salesperson, so far it’s mostly for music and asking about the weather. The closer Wall Street gets to bitcoin, the more its price seems to drop. Recent interest in digital assets from the likes of the New York Stock Exchange’s owner and Goldman Sachs hasn’t seemed to boost demand. Crypto is in regulatory limbo in Africa. Governments have flip-flopped between warning citizens and researching policy proposals. Ready or not, Africans are increasingly trading digital coins. Next-generation banking has stalled in India. Payment banks were supposed to help extend services to the un-banked, but they’ve been slowed by regulatory concerns and other hurdles. The future of finance elsewhere The traditional wallet will become extinct. The Wall Street Journal publishes a eulogy for folded leather money holders. Lending Club’s net loss widened. While revenue rose to a record, the peer-to-peer lender has been trying to turn itself around since an internal investigation discovered a series of loan malpractices. Ant Financial has added China’s first target-date mutual fund to its wealth management lineup. The service could become a model for western tech companies. US watchdogs delayed making a decision on a proposed bitcoin ETF. Officials at the Securities and Exchange Commission said they were giving themselves more time to deliberate. Most online trading platforms have security holes. These cyber weaknesses range from mild to serious, though upper-tier brokers tend to have better security. Previously, in Future of Finance Friday Aug. 3: The most influe

a month ago

Financial firms are increasingly giving away their services for free

Zero is the most sought-after number in personal finance right now. TransferWise, for example, has spent years grinding down the cost of sending money across borders. The end goal is to make transfers as easy as sending email—meaning potentially even free. “We haven’t proven that zero can be done, but we have proven that a company can move sustainably toward zero,” says CEO Kristo Käärmann. “If it’s not us, it’s going to be someone else.” He says the fintech firm has already beaten its original goal. When TransferWise started out in 2011, its founders bet they could cut the cost of sending money across borders to 0.5% of the value of the transaction. The cost of transfers on some major routes has now dropped to around 0.3%. Käärmann also says the quest is sustainable and profitable. It took almost six years for the company to break even, but last year the London-based firm had £67 million ($86 million) in revenue and £2 million in adjusted operating profit, according to filings. They’re not the only ones racing to zero. Vanguard has long been at the forefront of low-cost investing, but rival Fidelity stole the headlines this month by announcing mutual funds with zero-percent expense ratios. Next week, JPMorgan Chase is launching a digital investment service that provides free trades. But where do the profits come from if everything is free? TransferWise hasn’t disclosed exactly how it will get to zero, but scale is a big part of the strategy—as it is at companies like Vanguard, Fidelity, and BlackRock. Käärmann says the foreign-exchange and money transfer market is highly inefficient and fragmented. When you’re big enough, you can charge seemingly nothing and still make money. “We’ve stumbled on a pretty enormous market,” the TransferWise boss says. “The benefit we get from scale is strong and seemingly never ending.” But completely eliminating fees—that is, going to zero—is a different proposition from almost zero. Some companies may try to get customers in the door with free products and make a profit by cross-selling fee-based services. A financial firm that holds customer balances could also scoop up interest on those accounts. In the meantime, TransferWise’s investors seem on board with the cost-slashing strategy. One of them is Jesse Beyroutey of IA Ventures, who recently said that “someone, somewhere will reduce global money transfer costs to 0.” He thinks a company that uses its size to reduce fees instead of raise them has more long-term potential than the price-gouging monopolies of the past. So will the cost of international money transfers fall to zero in the next decade? “I hate to make predictions, and 10 years is a long way, but we should get very close in 10,” Käärmann says. “We can get from here to zero, or very close to zero, in five to 10 years.” The future of finance on Quartz Low-denomination coins are increasingly useless and, frankly, expensive to produce. The Bank of England says getting rid of pennies wouldn’t spark inflation. Electronic payment companies are soaring on the stock market. Adyen, which handles transactions for enterprises like Netflix, Spotify, and Uber, has surged since its blockbuster IPO in June. China is targeting WeChat accounts to police cryptocurrencies. The messaging app with a billion users closed a number of accounts that provided news and updates on the crypto world. Physical credit cards may be replaced by smart phones one day, but in the meantime London fintechs are attracting customers with fancy physical cards. Speaking of digital wallets, Apple’s is catching on, but growth outside of the US has been much stronger than in its home market. The future of finance elsewhere WeChat launched its payment platform in Malaysia (paywall), its first Asian market outside of Hong Kong and China. Samsung Pay has now handled more than 1.3 billion transactions. And Ant Financial’s profit dropped (paywall) as it battles with Tencent. The US Securities and Exchange Commission rejected another batch of bitcoin ETF proposals. Fraud and manipulation are among the agency’s top concerns. Mexico’s next government thinks tech upstarts could boost financial inclusion. Officials may revisit the country’s fintech laws to find ways to expand banking services to more citizens. Hacking is the future of insider trading. The Verge details the international criminal network that broke into Business Wire, which became one of the largest securities fraud cases in US history. Robo advisors aren’t going to disrupt big financial institutions, according to a report by Morningstar and PitchBook (pdf). Up-selling to human advice, ironically, could boost profits for the new breed of wealth managers. Previously, in Future of Finance Friday Aug. 10: Tesla and Spotify say public markets have major flaws. Do they have a point? Aug. 3: The most influential financial revolutionary is an 89-year-old with no interest in crypto July 27: With or without Amazon, asset management is getting disr

a month ago

The godfather of crypto has a plan to keep digital payments and messages private

There’s growing awareness that slick online services are far from free—and that we may be paying too high a price for some of them. Hyper-specific targeted advertisements are creepy, while using our data to tamper with elections raises surveillance risks to a new level. As more payments take place online via apps, a growing trove of personal data is ripe for exploitation. That’s where David Chaum comes in. His pioneering work in cryptography and digital payments predates bitcoin, and laid important groundwork for its invention. Likewise, he made prescient warnings about online privacy long before data-sharing scandals at mega tech companies like Facebook. “Everything you do could be known to anyone else, could be recorded forever,” Chaum told Wired magazine in 1994. “It’s antithetical to the basic principle underlying the mechanisms of democracy.” His latest venture is called Elixxir, a blockchain designed for fast, secure, and confidential messaging and payments at minimal expense. The design acknowledges that text messages and payments—from WeChat to WhatsApp Pay—are increasingly intertwined, by popular demand. At a CoinDesk conference in Singapore this week, Chaum pointed out that bitcoin was originally supposed to be a payment system instead of speculative asset. While bitcoin’s distributed blockchain is too slow to handle transactions as quickly as centralized systems, like the Visa network, he says he has devised a way to speed it up. He claims the network would also gobble up less electricity than bitcoin, and would be less prone to being undermined by quantum computing (someday, maybe). You can read more about the technical specifications here. Elixxir hasn’t disclosed information about tokens or plans for an initial coin offering, but a beta version is expected to go live early next year. The internet’s first cash—in 1995. (AP photo/Dusan Vranic) Chaum’s attempt to create a private digital money system in the 1990s didn’t catch on, but the computer scientist and cryptographer’s research helped spawn the cypherpunk movement that eventually birthed bitcoin in 2009. He says technology has improved to the point that speed and convenience don’t have to be exclusive to privacy any longer. “It’s not that people are unaware of the privacy that they’re losing,” Chaum said. “It’s that there has been no clear alternative which allows them to take control of their own informational lives without making significant sacrifices in terms of convenience and usability.” Paradoxically, as more payments happen electronically, the crypto crowd has mainly been on the sidelines. Visa and Mastercard are the conduits for a major swath of digital consumer transactions, while Alipay and WeChat reign in China. Tech giants like Facebook, Google, and Amazon are skirmishing to win over burgeoning electronic payment networks around the world. Consumers are forking over a shocking amount of data—for now. Google Payments, for example, collects transaction information such as date, time, amount, merchant location and description, description of whatever was purchased, any photos linked to the purchase, names and email contact information of the seller and buyer, the type of payment method, and your description of the reason for the purchase. Consumers increasingly have to choose “either an identification-based paradigm where information about them is freely linked and traded and analyzed and so on—and maybe misused—versus a world where people take control over their own informational lives by owning their own keys,” Chaum said. “It has only become more and more clear.” The future of finance on Quartz Here’s a way to preserve data privacy when making payments: use cash. The one hundred dollar bill is now the most popular banknote in circulation, beating out the one dollar bill. Islamic finance is rapidly growing across Africa. Investors, governments, and financial institutions are increasingly leveraging it. Is the Wild West for crypto exchanges coming to an end? The New York State Attorney General published a long list of concerns this week. Estonian “e-residents” are multiplying faster than the country’s human-born babies. The virtual residency program is popular enough to make a positive difference for the Baltic country’s economy. The future of finance elsewhere Singapore is making it easier to go cashless. The city-state launched a universal QR-code system to streamline its network. Square’s payment app is becoming more like a bank. “Anything you do today with a bank account, you should look to the Cash App to begin to emulate more and more of that,” according to Square CFO Sarah Friar. That could include things like offering investments. Ant Financial has started a service that helps financial firms go digital, potentially giving them access to its cutting-edge technology. Stripe still thinks crypto has potential in payments. That could be especially true in emerging markets, where networks and systems are less developed.

a month ago

Stripe has jumped into the top 10 of the world’s most valuable startups

Stripe has joined the league of the world’s top 10 most valuable startups. The payments company said yesterday (Sept. 26) that it had raised an additional $245 million of investment, pushing its value to $20 billion. Stripe’s valuation has more than doubled from $9.2 billion in just two years, lifting it (ahem) just above ride-hailing startup Lyft, according to PitchBook data. Investors are betting big on companies like Stripe, Ant Financial, and Square in expectation of a digital transaction boom. Online payments could exceed $50 trillion by 2026, according to Goldman Sachs Global Investment Research. These transactions could generate more than $200 billion in fees by that year, compared with $85 billion in 2016. Stripe’s products are designed to streamline online payments and billing. While the San Francisco-based company began as a darling for tech startups, its customers now include industry titans like Google, Spotify, and Uber. The eight-year-old company says it plans to use the money it raised to expand its international reach, grow its payments and treasury network, and build out enterprise features as larger companies adopt its platform. The investment round was led by Tiger Global Management, along with DST Global and Sequoia. Stripe operates in 25 countries and says it’s increasing its engineering team around the world. For now, only 3% of global commerce takes place online, a figure that’s expect to increase over time, reaching $4 trillion of sales in the next two years, according to Stripe’s statement. More than 500 million people in southeast Asia and India are expected to start going online in the next three years.

a month ago

Going to #devcon4? Come party with Aragon in Prague on Nov 1...

Going to #devcon4? Come party with Aragon in Prague on Nov 1st! Dance with Ethereum community DJs and pitch your d…

a month ago

Alipay Applies Blockchain Technology to the Housing Provident Fund Regulation

According to China’s IT News Report, Ant Financial Services Group has joined hands with Huaxin Group on Oct.17 to jointly build a blockchain-based provident fund tracking platform. It is reported that Hainan province has been the first one to use the platform to track the provident fund data of its residents. Alipay revealed that more partners will use its platform to enjoy its data tracking service. It is expected that features of transparency, immutability and traceability of blockchain technology will facilitate the data sharing among regulators in housing provident fund management. (RL)

a month ago

Today we're starting a bug bounty program for the smart cont...

Today we're starting a bug bounty program for the smart contracts in Aragon Core. Hack away! More information on th…

a month ago

Today we are releasing the first draft of AGP-1: The Aragon ...

Today we are releasing the first draft of AGP-1: The Aragon Governance Proposal Process for public comment and revi…

a month ago

Alibaba’s Jack Ma believes Bitcoin and Blockchain to be key contributors to a Cashless Society

The Chinese regulatory crackdown on blockchain and cryptocurrencies hasn’t been able to fade away the interest of key people and companies in the country. One can easily say that as Jack Ma, the chairman of Alibaba and $150 billion China-based financial conglomerates Ant Financial, was quoted saying in his recent speech that he pays “special attention” to Bitcoin and blockchain technology, as he believes these could be key contributors in establishing a cashless society. Jack Ma believes Bitcoin and Blockchain are powerful solutions Jack Ma, has been highly impressed with the innovation that bitcoin and blockchain bring to the table. He has been repeatedly quoted speaking positively by various sections of media about blockchain and cryptocurrencies. Even though Ma is still studying and evaluating the essential value Bitcoin and other major cryptocurrencies bring to the market, he laid emphasis on how blockchain technology as a whole is a powerful innovation that could enable a completely cashless society. Operating in a near cashless society in China, where only a very small portion of the population uses cash or credit cards to purchase products, receive compensation for their work, and to settle utility bills, Jack Ma analysis of Bitcoin, Blockchain and Cashless society is something that can’t be taken lightly. As Ma already owns and operates the leading Payment applications like Ant Financials’ $60 billion Alipay, his understanding and analysis of the role of fintech in forming a cashless society are unmatchable. Alipay’s current business model is very close to what most cryptocurrency project envisions to do with the use of blockchain and cryptocurrencies. With NFC-enabled smartphones, Alipay users in China can purchase coffee with a tap of a smartphone on sophisticated Point of Sale (PoS) terminals and instantaneously receive salaries from their employees through the app, without dealing with delays that often occur with wire transfers and inefficient banking services. Also, read: Jack Dorsey may Bring Blockchain to Twitter to Solve the Issues of Transparency In his statement, Jack Ma said, “I pay special attention to cashless society and blockchain technology. Mine and Alibaba’s job is we will move the world into a cashless society. The society can make everybody equal, inclusive to get the money they need, make sure it is sustainable and is transparent. I hate corruption. I don’t have the opportunity is ok. But I don’t want somebody through a dirty way take away my opportunity. This is why we want a cashless society.” He further added “Bitcoin, the thing I want to know is that what value, what things that bitcoin can bring to the society. But Behind bitcoin, the technology itself, is really very powerful.” The same sentiment was echoed by vice president of Ant Financial, Ray Chan, as he commented on how these products are meant to target millennials and the new generation, who are always looking for what’s new and instant. Chan was quoted saying: “When we consider new products, we create them for this era, one in which young people have become the main driving force of our society.” Currently, most of the world’s largest financial networks rely on centralized databases to record the transfer of fiat currencies and digital assets. By blockchain technology, Ma refers to decentralized computing systems like Ethereum that enable businesses to build on top of the blockchain, like decentralized applications (dApps) and tokens on the ERC20 token standard. With the vision that Ma holds, his analysis is something that one can expect to come true. The only question that remains is “when?”. What do you think about Jack Ma’s comments on cryptocurrency and blockchain? Do let us know your views on the same. The post Alibaba’s Jack Ma believes Bitcoin and Blockchain to be key contributors to a Cashless Society appeared first on Coingape.

a month ago

Spain Sets An Example For Other Countries On Blockchain Regulations

Spain has been leading as an example for other countries to follow when it comes to blockchain adoption and regulations. Just last week, the autonomous community of Aragon signed with Alastria, a blockchain ecosystem of more than 274 entities. Early this year, both the Left-wingers and conservatives united together to draft crypto-friendly regulations in the country. Also, the banks have stepped in to increase their contributions. Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank of Spain used blockchain through its entire process of issuing a 75 million euro loan. Spain is committed to the blockchain and is already using it in multiple sectors like Agriculture and Fisheries. (VS)

a month ago

Ant Financial Releases New Services Targeting Banks and Fintechs

Ant Financial Services Group has rolled out a new suite of fintech products and services aimed at banks and financial institutions. Ant Financial is an arm of the Chinese e-commerce firm Alibaba. Some of the new services to be provided by the firm include financial intelligence technologies, financial security technologies, large-scale financial transaction technologies, blockchain applications and next-generation interaction technologies. PICC Health Insurance and China Everbright Bank are among the firms that have already adopted the above services. (SK)

2 months ago

Blockchain Technology to be Applied to Public Administration in Spanish Autonomous Community of Aragon

Aragon, one of Spain’s 17 autonomous communities, has announced that it will begin applying blockchain technology in its public administration, making it the first in the country to do so. A deal was recently signed between the counsellor of Finance and Public administration and Alastria, a blockchain ecosystem, that will see Aragon provide blockchain-based services at the state level. The counsellor hopes that the implementation of blockchain will improve transparency in the government and a more efficient administration, making it a more attractive place for businesses and investments. (JF)

2 months ago

Australia: Blockchain Delegation Leaves for China to Strengthen Fintech Ties

A delegation drawn from Australia blockchain startups left for Shanghai, China, on Monday. The trip, organized by the Australian Trade and Investment Commission (Austrade), is meant to strengthen economic ties between the two countries. The delegation has already visited Ant Financial and Alipay. According to Thomas Reuters, China is among the leading countries in the adoption of blockchain technology, having filed the highest number of blockchain-related patents. (VK)

2 months ago

Public Account of Ant Miner Equipment Sale Blocked; the Official one of Bitmain is Still in Service

The public account for sale of Ant Miner Equipment of Bitmain has been closed forever on Wechat by the monitoring group for behaviors of operating without licensed approval, propaganda, and distribution. However, the company’s official public account dubbed as "Antminner" is still open and dealing with sales business. (RL)

2 months ago

Nebulas Reddit Tech AMA with Co-founder Robin Zhong

**This AMA was finished.** *** **Welcome to our official Tech AMA with Nebulas Co-founder Robin Zhong.** We are thrilled to announce our Mainnet 1.0 will be launched on March 29th ([Learn more](, the day we celebrate the opening of our new Nas Center in San Francisco. As promised, our Tech AMA will be held before the Mainnet launch, and our development team will be here answering your tech questions about Nebulas and the Mainnet launch. [See the time zone map] ( Everyone from the community is invited to ask questions on Reddit and upvote/downvote according to your interests. Questions with more upvotes will be answered first.  **NOTE:** * Please only ask tech questions during this AMA. These could be about our soon-to-be launched Mainnet for example. Non-tech questions won’t be answered. Sorry!. * Please do not reply to other user's questions until Robin has answered. * Try to be precise with your questions. * Please only ask a maximum of 2 questions per post. * * * Official website: Github: Slack: Telegram(EN): Twitter: **About Nebulas Co-founder Robin Zhong:** Nebulas co-founder, former architect of Ant Financial’s Blockchain Platform, former Senior Development Director of Dolphin Browser, Leader of Game Division. Graduated from Huazhong University of Science and Technology. He is also the founder of Tongxinclub, the first Blockchain support platform in China. **About Nebulas:** Nebulas is a technology platform providing a decentralized search framework for blockchain data. Based on an open and transparent ranking algorithm “Nebulas Rank”, Nebulas evaluate the blockchain data behind addresses, smart contracts and DApps to help users find valuable information more efficiently in a world with booming blockchain data....

8 months ago

First Live Reddit AMA with Nebulas Founder Hitters Xu

Welcome to the first official AMA with Nebulas founder Hitters Xu. Nebulas comes from the community and serves the community. To strengthen Nebulas’ connection with the community and help community members learn more about Nebulas, we are going to hold an online AMA on Reddit. The AMA started on **February 24th at 15:00 (UTC-08:00, PST)** / February 25th at 7:00 (UTC+08:00, Beijing). Everyone from the community can ask questions on Reddit and upvote/downvote according to your interest. **NOTE:** * Please do not reply to other user's questions until Hitters have answered. * Try to be precise with your questions. * Please only ask a maximum of 2 questions per post. * * * Official website: Github: Slack: Telegram(EN): Twitter: **About Nebulas** Nebulas is a decentralized platform which provides a search framework for all blockchains. Nebulas Rank (NR) is an open-sourced ranking algorithm used to measure the influence of relationships among addresses, smart contracts, and distributed applications (DApps). It helps both users utilize information among the ever-increasing amount of data on all blockchains & developers to use our search framework directly in their own applications. **About Hitters Xu** Founder & CEO of Nebulas, Founder of AntShares (NEO), a blockchain pioneer in China, the former Director of Ant Financial's Blockchain Platform (Alibaba’s financial arm) and part of Google's Search & Anti-Fraud team. Since 2013, Hitters has founded BitsClub(the very first Blockchain/Bitcoin community in China), ICO365 and FBG Capital (one of the earliest Crypto funds). ...

9 months ago

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