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Nigeria’s Bitcoin Trading Volume Rises to N1.7bn

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Crypto business is booming in Nigeria and more Nigerians are investing in it. A study has shown that about 56% of the crypto startups in Nigeria that raise money through token sales die within four months of their initial coin offerings (IOCs). However, despite the low lifespan of crypto startups in the country statistics has shown that the volume of local bitcoins transactions in Nigeria rose from N1.534 billion as at June 30, 2018 to N1.733 billion as at July 7, 2018. The highest the volume has been since March this year when volume rose to N1.735 billion.

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I am a blockchain and cryptocurrency journalist fascinated with sharing the knowledge of this wonderful technology in the simplest language possible.

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Blockchain News

IBM Launches Global Payment Network Based On Stella Public Network

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IBM launches its global payments network based on the stellar public network
photo credit: Bitcoin Exchange Guide

The tech giant IBM is on a mission to bring mainstream adoption to the blockchain. So far it is seeking to be the company that brings blockchain technology to the masses as IBM Blockchain –  the IBM arm in charge of developing solutions for the blockchain space on Monday 18th March announced its launch of the long-anticipated world wire network, a blockchain network based on the stellar public network.

In a statement, IBM describes it as the “first blockchain network of its kind to integrate payment messaging, clearing and settlement on a single unified platform and Participants are also allowed to dynamically choose from a variety of digital assets for settlement.”

IBM has already signed up six international banks that aim to create their version of stable coins backed 1:1 against their local fiat currencies as at the time of the launch. All the six banks have signed letters of intent with IBM. The stablecoins is to be built on top of the world wire network, the messaging and communication network (think SWIFT) which will facilitate seamless cross border payments.

Although, only the identity of one bank has been revealed IBM Blockchain should sooner or later announce the other partners. The known bank is Philippines-based RCBC, whose stablecoin will be pegged to the local peso while the other banks will be creating stablecoins pegged to the Euro, Korean won, Indonesian rupiah, and Brazilian reals according to respective regulatory provisions.

 “We’ve created a new type of payment network that is unique in the sense that it streamlines the ability of businesses and consumers to move money around the world in real time. This enables improved transparency without sacrificing the regulatory controls and policies we need in order to make sure that there aren’t bad actors in the system. We are convening a brand new network in 72 countries that will support pay-in and payout endpoints in 48 currencies.” –  Jesse Lund, head of IBM Blockchain told Forbes in a detailed podcast interview.

About IBM World Wire Network

The world wire network is basically a remittance network designed to contend against the ripple and SWIFT. IBM Blockchain general manager, Marie Wieck simply put it more precisely:

“We’ve created a new type of payment network designed to accelerate remittances and transform cross-border payments to facilitate the movement of money in countries that need it most.”

Furthermore, She added that “By creating a network where financial institutions support multiple digital assets, we expect to spur innovation and improve financial inclusion worldwide.” The World Wire currently offers settlements in two currencies, Stellar’s Lumens [XLM’] and the USD-pegged Stronghold stablecoin.

The IBM World Wire was initially announced back in October 2017 as the first pilot program was launched on the platform. It’s been under development for quite some time now but finally launched officially and available to be adopted by financial institutions to create their version of stablecoins and facilitates better cross border payments.

The network is supported in 72 countries so far with 48 currencies and 44 banking endpoints as revealed by IBM.

 

Do you think the world wire network stand the chance to compete against Ripple? Do share your thoughts with us in the comment section below.

 

Picture Credit: Bitcoin Exchange Guide

 

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

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International Women’s Day: Celebrating Women in Blockchain Tech

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International women's day: celebrating women in blockchain

Women role in society, not just the Blockchain space has always been a topic of discussion in the media. One could be pardoned for assuming the Blockchain and the cryptocurrency industry is male-dominated field as men are seen to be obvious domination of the technology space in general.

However, women should be recognized and commended as many of them play active roles in improving the adoption of cryptocurrency in mainstream commerce. There is a growing number of notable women making a tangible contribution and actively involved in leading projects in the Blockchain and cryptocurrency sphere.

On this international women’s day, we want to celebrate some of the female players making strides within the Blockchain ecosystem and here is a brief look at some;

Genevieve Leveille, Principal Founder and Chief Executive Officer at AgriLedger (JERSEY)

Genevieve has over 23 years’ experience in Supply Chain Finance and Banking, an expert in digital identity, market risk, liquidity management, treasury and business, and industry transformation. She is a renowned international speaker and has considerable experience in all major international markets. In 2016 Genevieve founded and led a hackathon team in the creation of the AgriLedger concept, a social enterprise project using distributed ledger technology and mobile apps for agricultural producers. Not only does Genevieve bring significant expertise and corporate experience to Blockchain and Cryptocurrency industries, but she’s also a passionate and skilled advocate in utilizing technology solutions for social impact, empowerment, and the greater good.

Follow Genevieve thoughts on the subject on LinkedIn, Twitter

Lindsay Nuon, Founder, and CEO of Women of Color in Blockchain, Inc. (WCB)

One of the hottest Cybersecurity startups in the industry toping best-of-lists in Information Weekly Dark Reading, SC Magazine and WSJ. She advises startups, mentors and speaks on topics including Cybersecurity, Data privacy, Governance, Risk, and Compliance and Diversity, Equity and Inclusion. She is a proud member of the International Association of Privacy Professionals, a Certified Ethical Hacker and an Integrated Risk Management strategist. To date, her work has been covered in Al Jazeera, CNBC. Recently she served as a judge for the inaugural One World Award, presented at the Consensys Blockchain for Social Impact Conference at the United States Institute of Peace in Washington, DC. WCB along with its partners work to enhance the perspectives represented at conferences, companies, and projects across the Blockchain ecosystem and the tech industry.

You can find her on the subject on Twitter, Linkedin

Ella Zhang, Head of Binance Labs

Ella has over 14 years of interdisciplinary experience in venture capital and frontier technologies. She was the youngest investment director of KPCB, one of the most prominent VCs on Sand Hill Road. Ella also co-founded XiaoduoAI, which provides NLP solutions to more than 3,000 clients including Taobao, EMS, Meituan, China Telecom, and JD Finance. Ella holds a B.S.E.E. from UESTC and MBA from Stanford GSB, where she started to believe in Blockchain technology and cryptocurrency will “Change lives.

Follow her thoughts on the subject on Twitter

Ruth Iselema, CEO, Bitmama.io

Ruth Iselema is the Co-founder and CEO at Bitmama, a cryptocurrency exchange with the mission to financially empower people by leveraging blockchain technology with fast, simple and easy trading of cryptocurrencies. She is a cryptocurrency enthusiast, trader and early investor with years of experience in Blockchain.

You can find Ruth on the subject on Linkedin, Twitter

Faith Obafemi, Blockchain Lawyer

Faith Obafemi is a digital lawyer whose practice area revolves around legal tech, cryptocurrency, Blockchain, and smart contracts. As a Founding Partner at Lex Futurus, an international Blockchain law firm, Faith helps her clients illuminate and navigate the crypto dark maze.

Follow faith insights on the subject on Twitter, Linkedin

Alakanani Itireleng, Founder, Satoshicentre.tech, Botswana

Alakanani Itireleng is one of the first ladies to be behind the bitcoin and Blockchain technology having been fully active since 2013, she is popularly known as the Bitcoinlady of Africa, she is a global Blockchain speaker, an innovator and founder of the Blockchain hub satoshicentre and a startup called Plaas.

You can find her on Twitter, Linkedin

Doris Ojuederie, Founder, Blockchain African Ladies

Ojuederie Doris, a Blockchain certified expert, an entrepreneur with expertise on Business Development and strategic marketing and ardent Blockchain lover, have been in the Blockchain space for about 6 years and passionate about educating African women about the Blockchain technology.

Connect with Doris on LinkedIn, Twitter

Flora Sun, Director at Binance Labs

Prior to joining Binance Labs, Flora Sun was a software engineer in Silicon Valley. She has worked in the telecommunications research group (COMSAT Labs), enterprise software corporations (HP, Oracle, Remend, Bitfone) and several consumer Internet startups. Flora is passionate about using computer science to make a positive impact on people’s lives and has developed technologies that are used by millions. Flora holds SB and MEng degrees in EECS from MIT.

You can find flora on Twitter

Heaven Bereket, Founder bambino foundation, Sweden

Heaven Bereket is a Social Entrepreneur at heart, a female entrepreneur doing business with a purpose. Using an innovative model of funding her start-up through Crypto & Forex trading. With over 5 years of experience of trading, her biggest passion is providing support to local initiatives and working towards financial inclusion.

Follow her thoughts on the subject on Twitter, LinkedIn

Eman Herawy, Blockchain Developer, Egypt

Eman Herawy Is an Egyptian Blockchain developer and part of a Blockchain/AI team and currently working on different Blockchain including Ethereum, quorum, Ethereum swarm, hyper ledger fabric domains. Herawy is also mastered in cloud networks.

You can find Eman on the subject on Twitter, Linkedin

Happy International Women’s Day! A balanced world is a better world.

 

Do join us in celebrating International Women’s Day by using the comment section, spreading the word about the accomplishments of women in Blockchain and in other areas of life!!

 

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Altcoin News

Vice Industry Token Rewards All Stakeholders in the Adult Industry

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vice industry token to reward stakeholders in Industry

Imagine a word where you get paid to view content. In fact, where everyone involved gets paid – from the producers, all the way to the consumers. This is VIT’s vision for the future. VIT was developed because most players in the vice industry online are not okay with the way things are done now.

At a time when adult content generates 30% of all traffic online, very little money is actually generated back to content owners and producers and not one penny goes to the viewer.

Vice token has completely replaced the current commercial model with something revolutionary, disruptive and elegant. A model where all parties involved from the producers to consumers get paid.

Disruption

This is the next stage in the evolution of online television and video with the revolution and disruption using blockchain and a cryptotcurrency called the Vice Industry Token.

The adult entertainment industry is leading the way and the future of our industry lies in recognizing that consumer attention is a valuable an scare resource in and effectively, and entirely new economy- the Attention Economy.

The Attention Economy

In the attention economy, content producers, curators and consumers all get paid for their participation. Content is produced, tagged by a blockchain enabled platform and curated by channel owners. Consumers view these contents for free in exchange for engaging with it in a specific ways. For example, commenting, up-voting or simply viewing a video for a set period of time.

The Vice Industry Token

These digital engagement, generate a proprietary cryptocurrency called the Vice Industry Token. Which is then used to compensate viewers, curators and producers for their participation. The attention pays producers for content consumption even in cases where their content is mashed up or other wise re-used. This leads them to invest in creating better quality content that appeals to consumers. Popular content creates higher engagement levels, which generates more revenue and the cycle continues.

Reward for Curators

Curators are financially incentivized to offer high quality and more popular contents and to attract the viewing public. The combinations of high volume of traffic and poplular content, lead to greater consumer engagement which means which means greater revenue.

Reward for Consumers

Finally, consumers get paid for contents their engagement in content the are genuinely interested in watching. This engagement model creates a more authentic brand-consumer relationship than the current advertising model and eliminates advertising industry problems like click forward.

The Vice Industry Token and its commercial model, is just the beginning of the future of all online video and television. The team is envisioning a revolutionary future with billions of users.

Visit Vice Token to learn more about the project

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5 Lies Frequently Told About Bitcoin and The Truth You Need to know

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5 lies about bitcoin

Since its creation in 2009, Bitcoin has gained a lot of popularity. However, with this popularity comes some “untruths” that some people or authorities spread. Gaius, in his recently published book, takes a look at 5 lies that are frequently told about Bitcoin.

1.Bitcoin is MMM: No, Bitcoin is not related to any Ponzi scheme. It is a digital currency and not a pyramid scheme where you rob Peter to pay Paul.

2. Bitcoin will make you rich instantly: this is a total lie. It took me 5 years to gain profit from my initial investment in Bitcoin. If you want to get rich instantaneously bitcoin isn’t for you.

3. To own Bitcoin, you must “buy at least one Whole Bitcoin”. This is not true as Bitcoins are divisible to eight decimal places, or 1/100 millionth of a bitcoin called satoshis. This means you can own bitcoin worth a thousand naira or even a hundred naira.

4. Bitcoins does not have any intrinsic value: Most people fear that Bitcoin lacks value because it’s supply is finite but this is a lie as Bitcoins offers a safer, faster, cheaper transaction network. Since people utilise it for transactions, it has value.

5. Bitcoin can be used for illegal activities more than cash: This is a lie because Bitcoin can be easily traced and offers less anonymity than cash. So while criminals prefer cash, investigators prefer Bitcoin as it is easier to catch these criminals.

These excerpts are from his my best selling book “How Bitcoin Changed My Life” now on Amazon. Get a copy.

 

Do you share similar views with Gaius?  If yes what other lie would you like to add to this list? If no what is your take on the topic? Drop your opinions in the comment section 

 

Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

 

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