Mckinsey: Despite Billions of Dollars ... - Bitcoin News

Decentralized Exchange— True Crypto Ownership Realized

originally posted by ankarlie https://steemit.com/blockchain/@ankarlie/decentralized-exchange-true-crypto-ownership-realized
Introduction
For over a decade we have seen blockchain technology developed into one of the most important technologies in recent history. Many visionaries, thought leaders, business gurus, and government authorities have recognized its immense potential that they have often associated it as one of the primary technologies that will drive Web 3.0 or even the 4th industrial revolution. Blockchain technology is so powerful that it has the capacity to disrupt any sector in our society where trust is a primary concern, which is pretty much is everything. As such we might consider businesses engaged in blockchain technology are in the business of trust.
Business of Trust
Blockchain technology has often been described as a trust layer that enables an individual to exchange value without having to rely on any central authority or third party intermediary. Often times transactions that are done using this technology are called trustless transactions, meaning, transacting parties do not have to trust each other to ensure that transactions will be consummated. In other words, the technology itself will guarantee that all transactions will push through, irreversible and immutable.
Banks are good examples of business of trust. We entrust them with our money and valuables, but sometimes these very same banks restrict our access to our own money and valuables due to many reasons. These might be server maintenance, AML and KYC requirements, regulatory obligations or whatever reason they might deem applicable. This is the very reason why blockchain technology through its first application, Cryptocurrency, has gained enormous success. Cryptocurrencies enable everyone total and complete control of their money.
Scams and Fake Blockchain Initiatives
The awesome potential of the blockchain technology might have afforded us the necessary tools and infrastructure for more financial freedom, inclusivity, and mobility, but it is not immune to bad actors that try to exploit the advantages of this burgeoning industry. The excitement and demand for blockchain technology have opened the doors for scammers and con-artists who try to “sell” the technology to investors who are more than willing to invest huge amounts of money to get the piece of the action that has the potential to explode in value.
One good example of a project that has been masquerading as blockchain technology is the $4 Billion fake crypto scam called OneCoin. The leader of this project, Dr. Ruja Ignatova aka Cryptoqueen have positioned OneCoin as the Bitcoin killer which she claims will become the biggest cryptocurrency in the world. Coming from an Oxford University graduate with a doctorate degree from Konstanz University in Germany and worked at McKinsey and Company who would have known that the project would turn out to be a scam.
OneCoin exploited the idea of leveraging blockchain technology, the potential of hitting it big like bitcoin and played on the greed of investors who were fearful of missing out on a life-changing opportunity envisioned by Dr. Ruja. That was several years back, of course we all know now that there was never an underlying blockchain technology in the first place and what we have left are disgruntled investors some of which are financially ruined due to investing more than they can afford to lose. Sad to say this has been a common narrative in the crypto space.
Blockchain is Real and Here To Stay
The many scams and fake or failed blockchain projects in the space have not dampened the interest of investors into blockchain and its first use case, cryptocurrencies. Instead, it has been gaining traction as the industry begins to mature, gaining regulatory clarity and widespread acceptance as a valid and legitimate asset class and investment vehicle. They can serve as alternative investments that can be used to hedge against uncertainties in traditional finance and investments.
There are now over four thousand cryptocurrencies in the world and this number will continue to increase well into the future. In fact, cryptocurrency proponents see a future where there will be hundreds of blockchains and thousands of digital assets. An integral part of this growing ecosystem will be cryptocurrency exchanges which serve as venues for open markets where cryptocurrency holders, traders, and investors interact. Not only there is an increasing number of digital assets in the space but also the places where you can trade.
CEX vs DEX
There are two general types of cryptocurrency exchanges: Centralized Exchange (CEX) and Decentralized Exchanges (DEX). Their functions are essentially the same but the way users interact with these types of exchanges differs significantly. CEX typically require their customers to undergo Know-Your-Customer (KYC) procedures and ID verification processes, DEX does not. In addition, CEX requires its customers to their cryptocurrencies deposit into its internal wallets while DEX allows its users to keep their wallets in non-custodial wallets.
CEX is generally considered by the wider cryptocurrency community as the lesser secure venue for users due to the following reasons. First, CEX typically uses one single crypto wallet address per blockchain. This means users of all Ether and Ethereum based-tokens share (The same can be said with other blockchain platform) the same address and demarcated only using a Memo or a Tag. This creates a honeypot that is just waiting to be exploited by hackers. Second, users of CEX have limited access to their digital assets as they will have to ask permission from the CEX operator access to their digital assets.
KYC procedures in CEX are also of great concern as users are typically required to submit supporting documents that can be used to verify their identity. This means users are relying on the security and competency of the CEX to secure their valuable information. Information that can be used for identity theft, false representation, and recovery of other online accounts. One good example of this is Binance where it found some of their customer information have been compromised. This is on top of the recent hack last May 2019.
Although no user funds were lost by the hack as Binance shouldered all the lost funds amounting to $40M USD, users were not able to access their accounts for several days. One can only imagine the great stress and anxiety It might have brought its users, not knowing when they will be able to regain access to their digital assets. These risks do not exist when using DEX as users will not have to deposit or withdraw their Cryptocurrencies. Transactions are all done on-chain and directly transacted from their own non-custodial wallet and there is no risk of your information falling into the wrong hands as there is no need for KYC.
Decentralized Exchange— Newdex
DEXs were made possible through the evolution of blockchain technology. The first-generation blockchain tech like the one used by bitcoin simply does not have the capabilities to host decentralized exchanges. This was only made possible through the integration of smart contracts with Ethereum being the first one to incorporate such capabilities. While the technology has shown promise the limitations of Ethereum’s blockchain made it impossible and uneconomical to reach mass adoption.
Decentralized exchanges (DEX) relies heavily on the blockchain where it has been built on. This is the primary reason why Newdex developers have decided to build their DEX on two of the most successful, scalable and used blockchain in the whole industry EOS and TRON. By doing so their DEX has the capacity to scale to mass adoption without having to worry that the underlying technology that hosts their DEX will not be able to cope up with the load and demand of their decentralized exchange.
EOS and TRON both use Delegated Proof-of-Stake (DPOS) consensus mechanism which has been described as a more power-efficient, scalable and democratic consensus protocol compared to Proof-of-Work. This enables them higher throughputs, consumes a whole lot less energy and secures its blockchain more efficiently. Aside from the scalability advantage, the absence of miners in DPOS makes transactions in EOS and TRON more cost-efficient and often times fee-less like.
By offering a simple yet powerful trading venue for traders of EOS, TRON Newdex has become one of the world’s leading decentralized exchanges. To ensure that the digital assets of its customers are always safe Newdex, does not require its clients to input their private keys. Instead, Newdex opted to partner with all conceivable wallets for both EOS and TRON to enable its users to log in through their non-custodial wallets of choice. This is an additional layer of security and serves as a deterrent to phishing risk.
Apart from not asking for the private key to login in, Newdex does not require its traders to deposit and withdraw their digital assets. This was made possible because all trades are transacted on-chain which means trades are triggered, executed and finalized using smart contracts making them irreversible, immutable and secure. This also makes them auditable and transparent as anyone can basically follow and inspect the transaction on the various blockchain explorer available online.
Since users of Newdex never lose custody of their digital assets we can say it is the prime example of true digital asset ownership. Unlike centralized exchanges that require their customers to deposit and withdraw, Newdex executes transactions straight out of customers’ wallets which means there is no need to move digital assets in and out of the DEX. Hence there will be no chance for Newdex to lockdown user assets, there will also be no need to pay for deposits and withdrawals.
World’s Leading Decentralized Exchange
DEXs are the only trading venues where users have full custody and control of their cryptocurrencies through the use of blockchain technology. Newdex has emerged as the world’s leading DEX for not only offering all the advantages of decentralized exchanges but offering value-added services that set it above all other decentralized exchanges. These include an OTC market that enables its users to use Fiat currencies to trade with cryptocurrencies, a VIP membership for various trading and airdrops privileges and utilizing its own utility token called Newdex ecological Platform Token (NDX).
Conclusion
Cryptocurrencies have not yet reached mass adoption but through the power of blockchain technology and the many advantages that it brings it is only a matter of time when the masses come marching along searching for the proper venue where they can fully exercise their newfound financial freedom. Where there are no censorship, no restrictions, borderless and frictionless. More importantly, where true ownership of cryptocurrency is realized, decentralized exchanges and there is no better embodiment of this than Newdex, the world’s leading decentralized exchange.
For more information about Newdex please follow its official links below:
Website: https://newdex.vip/
Twitter: https://twitter.com/NewdexOfficial
Medium: https://medium.com/@marketing\_27690
Let's Connect!!!
submitted by rillita to eos [link] [comments]

IOTA and Tangle discussion/info, scam or not?

In the past weeks I heard a lot pros and cons about IOTA, many of them I believe were not true (I'll explain better). I would like to start a serious discussion about IOTA and help people to get into it. Before that I'll contribute with what I know, most things that I will say will have a source link providing some base content.
 
The pros and cons that I heard a lot is listed below, I'll discuss the items marked with *.
Pros
Cons
 

Scalability

Many users claim that the network infinitely scales, that with more transactions on the network the faster it gets. This is not entirely true, that's why we are seeing the network getting congested (pending transactions) at the moment (12/2017).
The network is composed by full-nodes (stores all transactions), each full-node is capable of sending transactions direct to the tangle. An arbitrary user can set a light-node (do not store all transactions, therefore a reduced size), but as it does not stores all transactions and can't decide if there are conflicting transactions (and other stuff) it needs to connect to a full-node (bitifinex node for example) and then request for the full-node to send a transaction to the tangle. The full-node acts like a bridge for a light-node user, the quantity of transactions at the same time that a full-node can push to the tangle is limited by its brandwidth.
What happens at the moment is that there are few full-nodes, but more important than that is: the majority of users are connected to the same full-node basically. The full-node which is being used can't handle all the requested transactions by the light-nodes because of its brandwidth. If you are a light-node user and is experiencing slow transactions you need to manually select other node to get a better performance. Also, you need to verify that the minimum weight magnitude (difficulty of the Hashcash Proof of Work) is set to 14 at least.
The network seems to be fine and it scales, but the steps an user has to make/know are not friendly-user at all. It's necessary to understand that the technology envolved is relative new and still in early development. Do not buy iota if you haven't read about the technology, there is a high chance of you losing your tokens because of various reasons and it will be your own fault. You can learn more about how IOTA works here.
There are some upcoming solutions that will bring the user-experience to a new level, The UCL Wallet (expected to be released at this month, will talk about that soon and how it will help the network) and the Nelson CarrIOTA (this week) besides the official implementations to come in december.
 

Centralization

We all know that currently (2017) IOTA depends on the coordinator because the network is still in its infancy and because of that it is considered centralized by the majority of users.
The coordinator are several full-nodes scattered across the world run by the IOTA foundation. It creates periodic Milestones (zero value transactions which reference valid transactions) which are validated by the entire network. The coordinator sets the general direction for the tangle growth. Every node verifies that the coordinator is not breaking consensus rules by creating iotas out of thin air or approving double-spendings, nodes only tells other nodes about transactions that are valid, if the Coordinator starts issuing bad Milestones, nodes will reject them.
The coordinator is optional since summer 2017, you can choose not implement it in your full-node, any talented programmer could replace Coo logic in IRI with Random Walk Monte Carlo logic and go without its milestones right now. A new kind of distributed coordinator is about to come and then, for the last, its completely removal. You can read more about the coordinator here and here.

Mining-Blockchain-based Cryptocurrencies

These are blockchain-based cryptocurrencies (Bitcoin) that has miners to guarantee its security. Satoshi Nakamoto states several times in the Bitcoin whitepaper that "The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes". We can see in Blockchain.info that nowadays half of the total hashpower in Bitcoin is controlled by 3 companies (maybe only 1 in the future?). Users must trust that these companies will behave honestly and will not use its 50%> hashpower to attack the network eventually. With all that said it's reasonable to consider the IOTA network more decentralized (even with the coordinator) than any mining-blockchain-based cryptocurrency
You can see a comparison between DAG cryptocurrencies here
 

IOTA partnerships

Some partnerships of IOTA foundation with big companies were well known even when they were not officialy published. Some few examples of confirmed partnerships are listed below, others cofirmed partnerships can be seem in the link Partnerships with big companies at the pros section.
So what's up with all alarming in social media about IOTA Foundation faking partnerships with big companies like Microsoft and Cisco?
At Nov. 28th IOTA Foundation announced the Data Marketplace with 30+ companies participating. Basically it's a place for any entity sell data (huge applications, therefore many companies interested), at time of writing (11/12/2017) there is no API for common users, only companies in touch with IOTA Foundation can test it.
A quote from Omkar Naik (Microsoft worker) depicted on the Data Marketplace blog post gave an idea that Microsoft was in a direct partnership with IOTA. Several news websites started writing headlines "Microsoft and IOTA launches" (The same news site claimed latter that IOTA lied about partnership with Microsoft) when instead Microsoft was just one of the many participants of the Data Marketplace. Even though it's not a direct partnership, IOTA and Microsoft are in close touch as seen in IOTA Microsoft and Bosch meetup december 12th, Microsoft IOTA meetup in Paris 14th and Microsoft Azure adds 5 new Blockchain partners (may 2016). If you join the IOTA Slack channel you'll find out that there are many others big companies in close touch with IOTA like BMW, Tesla and other companies. This means that right now there are devs of IOTA working directly with scientists of these companies to help them integrate IOTA on their developments even though there is no direct partnership published, I'll talk more about the use cases soon.
We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative... - Omkar Naik
 

IOTA's use cases

Every cryptocurrency is capable of being a way to exchange goods, you pay for something using the coin token and receive the product. Some of them are more popular or have faster transactions or anonymity while others offers better scalablity or user-friendness. But none of them (except IOTA) are capable of transactioning information with no costs (fee-less transactions), in an securely form (MAM) and being sure that the network will not be harmed when it gets more adopted (scales). These characteristics open the gates for several real world applications, you probably might have heard of Big Data and how data is so important nowadays.
Data sets grow rapidly - in part because they are increasingly gathered by cheap and numerous information-sensing Internet of things devices such as mobile devices, aerial (remote sensing), software logs, cameras, microphones, radio-frequency identification (RFID) readers and wireless sensor networks.
 
It’s just the beginning of the data period. Data is going to be so important for human life in the future. So we are now just starting. We are a big data company, but compared to tomorrow, we are nothing. - Jack Ma (Alibaba)
There are enormous quantities of wasted data, often over 99% is lost to the void, that could potentially contain extremely valuable information if allowed to flow freely in data streams that create an open and decentralized data lake that is accessible to any compensating party. Some of the biggest corporations of the world are purely digital like Google, Facebook and Amazon. Data/information market will be huge in the future and that's why there so many companies interested in what IOTA can offer.
There are several real world use cases being developed at the moment, many of them if successful will revolutionize the world. You can check below a list of some of them.
Extra
These are just few examples, there are a lot more ongoing and to explore.
 

IOTA Wallet (v2.5.4 below)

For those who have read a lot about IOTA and know how it works the wallet is fine, but that's not the case for most users. Issues an user might face if decide to use the current wallet:
Problems that could be easily avoided with a better understand of the network/wallet or with a better wallet that could handle these issues. As I explained before, some problems during the "congestion" of the network could be simply resolved if stuff were more user-friendly, this causes many users storing their iotas on exchanges which is not safe either.
The upcoming (dec 2017) UCL Wallet will solve most of these problems. It will switch between nodes automatically and auto-reattach transactions for example (besides other things). You can have full a overview of it here and here. Also, the upcoming Nelson CarrIOTA will help on automatic peer discovery for users setup their nodes more easily.
 

IOTA Vulnerability issue

On sept 7th 2017 a team from MIT reported a cryptographic issue on the hash function Curl. You can see the full response of IOTA members below.
Funds were never in danger as such scenarios depicted on the Neha's blogpost were not pratically possible and the arguments used on the blogpost had'nt fundamentals, all the history you can check by yourself on the responses. Later it was discovered that the whole Neha Narula's team were envolved in other concurrent cryptocurrency projects
Currently IOTA uses the relatively hardware intensive NIST standard SHA-3/Keccak for crucial operations for maximal security. Curl is continuously being audited by more cryptographers and security experts. Recenlty IOTA Foundation hired Cybercrypt, the world leading lightweight cryptography and security company from Denmark to take the Curl cryptography to its next maturation phase.
 
It took me a couple of days to gather the informations presented, I wanted it to make easier for people who want to get into it. It might probably have some mistakes so please correct me if I said something wrong. Here are some useful links for the community.
This is my IOTA donation address, in case someone wants to donate I will be very thankful. I truly believe in this project's potential.
I9YGQVMWDYZBLHGKMTLBTAFBIQHGLYGSAGLJEZIV9OKWZSHIYRDSDPQQLTIEQEUSYZWUGGFHGQJLVYKOBWAYPTTGCX
 
This is a donation address, if you want to do the same you might pay attention to some important details:
  • Create a seed for only donation purposes.
  • Generate a address and publish it for everyone.
  • If you spend any iota you must attach a new address to the tangle and refresh your donation address published before to everyone.
  • If someone sends iota to your previous donation address after you have spent from it you will probably lose the funds that were sent to that specific address.
  • You can visualize how addresses work in IOTA here and here.
This happens because IOTA uses Winternitz one-time signature to become quantum resistent. Every time you spend iota from a address, part of the private key of that specific address is revealed. This makes easier for attackers to steal that address balance. Attackers can search if an address has been reused on the tangle explorer and try to brute force the private key since they already know part of it.
submitted by mvictordbz to CryptoCurrency [link] [comments]

TARK Digital Bank - the terminator of traditional banks?


With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and global payment
Tark Wallet is the most direct application of several major financial scenarios, such as encrypted assets, cross-border payment and settlement, bill and supply chain finance, securities issuance and trading. In terms of cross-border payment settlement, Tark Wallet will abandon the role of intermediary bank, based on blockchain 4.0 cross-chain lightning technology, to achieve point-to-point fast and low-cost cross-border payment. According to McKinsey's calculations, from a global perspective, the application of blockchain technology in B2B cross-border payment and settlement services will reduce the transaction cost by about 40%, which will be a broad development market.
From the point of view of investors, Tark Digital Bank will bring many exciting investment opportunities, not only saving real estate expenses and a large amount of traditional IT maintenance costs, but also involving less human resources than traditional banks. I believe that with the development of technology, traditional banks will gradually disappear, and Tark Digital Bank will end the era of traditional banking. Let us wait and see!
submitted by gswt to u/gswt [link] [comments]

TARK Digital Bank - the terminator of traditional banks?


With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and global payment
Tark Wallet is the most direct application of several major financial scenarios, such as encrypted assets, cross-border payment and settlement, bill and supply chain finance, securities issuance and trading. In terms of cross-border payment settlement, Tark Wallet will abandon the role of intermediary bank, based on blockchain 4.0 cross-chain lightning technology, to achieve point-to-point fast and low-cost cross-border payment. According to McKinsey's calculations, from a global perspective, the application of blockchain technology in B2B cross-border payment and settlement services will reduce the transaction cost by about 40%, which will be a broad development market.
From the point of view of investors, Tark Digital Bank will bring many exciting investment opportunities, not only saving real estate expenses and a large amount of traditional IT maintenance costs, but also involving less human resources than traditional banks. I believe that with the development of technology, traditional banks will gradually disappear, and Tark Digital Bank will end the era of traditional banking. Let us wait and see!
C
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

TARK Digital Bank - the terminator of traditional banks?


With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and global payment
Tark Wallet is the most direct application of several major financial scenarios, such as encrypted assets, cross-border payment and settlement, bill and supply chain finance, securities issuance and trading. In terms of cross-border payment settlement, Tark Wallet will abandon the role of intermediary bank, based on blockchain 4.0 cross-chain lightning technology, to achieve point-to-point fast and low-cost cross-border payment. According to McKinsey's calculations, from a global perspective, the application of blockchain technology in B2B cross-border payment and settlement services will reduce the transaction cost by about 40%, which will be a broad development market.
From the point of view of investors, Tark Digital Bank will bring many exciting investment opportunities, not only saving real estate expenses and a large amount of traditional IT maintenance costs, but also involving less human resources than traditional banks. I believe that with the development of technology, traditional banks will gradually disappear, and Tark Digital Bank will end the era of traditional banking. Let us wait and see!
submitted by gswt to u/gswt [link] [comments]

TARK Digital Bank - the terminator of traditional banks?

TARK Digital Bank - the terminator of traditional banks?

With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
📷
https://preview.redd.it/86acmuqsn7531.png?width=553&format=png&auto=webp&s=f0152b053b56ed91ea6ac58a7d26fe9c99ae5ad6
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and global payment
📷
Tark Wallet is the most direct application of several major financial scenarios, such as encrypted assets, cross-border payment and settlement, bill and supply chain finance, securities issuance and trading. In terms of cross-border payment settlement, Tark Wallet will abandon the role of intermediary bank, based on blockchain 4.0 cross-chain lightning technology, to achieve point-to-point fast and low-cost cross-border payment. According to McKinsey's calculations, from a global perspective, the application of blockchain technology in B2B cross-border payment and settlement services will reduce the transaction cost by about 40%, which will be a broad development market.
From the point of view of investors, Tark Digital Bank will bring many exciting investment opportunities, not only saving real estate expenses and a large amount of traditional IT maintenance costs, but also involving less human resources than traditional banks. I believe that with the development of technology, traditional banks will gradually disappear, and Tark Digital Bank will end the era of traditional banking. Let us wait and see!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

TARK Digital Bank - the terminator of traditional banks?


With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
📷
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and globTARK Digital Bank - the terminator of traditional banks?
With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
📷
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and global payment
📷
Tark Wallet is the most direct application of several major financial scenarios, such as encrypted assets, cross-border payment and settlement, bill and supply chain finance, securities issuance and trading. In terms of cross-border payment settlement, Tark Wallet will abandon the role of intermediary bank, based on blockchain 4.0 cross-chain lightning technology, to achieve point-to-point fast and low-cost cross-border payment. According to McKinsey's calculations, from a global perspective, the application of blockchain technology in B2B cross-border payment and settlement services will reduce the transaction cost by about 40%, which will be a broad development market.
From the point of view of investors, Tark Digital Bank will bring many exciting investment opportunities, not only saving real estate expenses and a large amount of traditional IT maintenance costs, but also involving less human resources than traditional banks. I believe that with the development of technology, traditional banks will gradually disappear, and Tark Digital Bank will end the era of traditional banking. Let us wait and see!
Quickly download on the official website :http://www.tarkwallet.com/download/down.htmlal payment
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

TARK Digital Bank - the terminator of traditional banks?


With the advancement of technological innovation, we are entering an era of transition in the relationship between consumers and banks, and the advantages of digital bank are slowly becoming more and more prominent.
The difference between traditional banks and digital banks
Traditional banks, from a micro level, can be seen as an institution that absorbs deposits and issues loans. Based on the trust of the bank, we deposit the assets in the bank. The bank can use the money to lend or make other profitable projects, but no one can guarantee that such trust will not deteriorate over time. Our assets are in the hands of third-party banks. Once a crisis of trust arises, no one will guarantee us the security of asset, we can only bear the losses ourselves.
📷
The rise of digital bank is catering to a large number of consumer groups that have grown up in the computer age. Blockchain technology, artificial intelligence and technology strategies will provide people with more convenient and faster services, and better integrate into people's lives. We're getting used to going out with only one mobile phone. Through the breakthrough of information security, digital banks can avoid the central information repository with risk of leakage, and replace it with a decentralized information system that can be encrypted and decentralized. The emergence of Bitcoin is in line with the development needs of the digital age, making a decentralized digital payment system possible.
Tark wallet, with two super features and six advantages
The security, transparency and non-tamperability of the blockchain will change the core principles between the financial systems. The trust model between the future financial systems will no longer rely on intermediaries, and the banking business will be “decentralized” to realize real-time digital transactions. Tark wallet has achieved a major breakthrough in technology, fully reflects the spirit of blockchain in application, with two super features of anonymity and security, with six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification and open third-party ecosystem; support payment, storage and transactions of multiple tokens, but also integrate games, communities, live broadcasts and other applications, it is a comprehensive blockchain platform system.
Tark builds digital bank and builds a new financial ecosystem
Digital bank will achieve its ambitious goals through encryption technology, distributed accounting, artificial intelligence and big data. As an important part of the digital economy and ecosystem, Tark Wallet is more efficient, flexible and profitable in structure. It will also provide artificial intelligence and big data analysis to provide an unprecedented customer experience while optimizing customer transaction costs and bank financing costs. There is no doubt that the birth of Tark Digital Bank will create a larger financial ecosystem. Whether it is insurance companies, brokers, smart investment consultants, credit card issuers, international payment service providers, P2P platforms can expand their financial systems through digital bank.
Tark, financial expert and global payment
📷
Tark Wallet is the most direct application of several major financial scenarios, such as encrypted assets, cross-border payment and settlement, bill and supply chain finance, securities issuance and trading. In terms of cross-border payment settlement, Tark Wallet will abandon the role of intermediary bank, based on blockchain 4.0 cross-chain lightning technology, to achieve point-to-point fast and low-cost cross-border payment. According to McKinsey's calculations, from a global perspective, the application of blockchain technology in B2B cross-border payment and settlement services will reduce the transaction cost by about 40%, which will be a broad development market.
From the point of view of investors, Tark Digital Bank will bring many exciting investment opportunities, not only saving real estate expenses and a large amount of traditional IT maintenance costs, but also involving less human resources than traditional banks. I believe that with the development of technology, traditional banks will gradually disappear, and Tark Digital Bank will end the era of traditional banking. Let us wait and see!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

MyBit FAQ

Welcome at MyBit's official Reddit.
Intro
MyBit designs products that open up the world, creating tools that enable freedom and wealth generation for everyone. Its two flagship products include a decentralised investment platform (MyBit DApp) and the world's first decentralised IoT asset exchange (MYDAX). Powered by Ethereum.
Founded in Switzerland by industry veterans, MyBit believes that people should be able to follow their passion instead of having to work to survive.
By redefining the way people generate income, MyBit strives to democratise financial services so everyone has equal access to income opportunities. This becomes critical as the machine economy begins to dominate and 800 million human jobs are lost to machines by 2030 (Mckinsey, 2017).
MyBit provides an ecosystem for the upcoming 11.1 Trillion dollar IoT industry (Forbes, 2017) among other collaborative tools, with the belief that everyone should have an equal opportunity to participate in this revolution.
Follow MyBit on:
Twitter Announcements/News
Facebook Events/Meetups
Telegram Quick Chat
BITCOIN TALK Timely updates
YOUTUBE
Linkedin
Blockfolio
More Information
WEBSITE
Whitepaper

The Company

Where is MyBit registered?
MyBit Stiftung (Foundation) is registered in Zug, Switzerland under public registration number CHE-177.186.963 and can be found in the commercial registry HERE. MyBit AG (Operating Entity) is registered in Zug, Switzerland under public registration number CHE-192.841.841 and be found in the commercial registry here.
What is the responsibility of the Foundation and AG?
The MyBit Foundation is responsible for managing capital flow, the MyBit Token, and the overall success of the entire ecosystem. MyBit AG is owned by the MyBit Foundation and employs the team as well as completes the engineering, marketing, business development, and other core functions.
Why choose a non-profit structure?
To best protect ourselves and our community we mirrored our corporate structure to that of Ethereum and are based in the same jurisdiction. This ensures that everyone involved with MyBit from team members, to contributors, to third-parties are protected to the best extent currently possible.
Who is the team?
Please review the company section of the website. Where is the team located? The core team is based in Zug, Switzerland where our offices are and company is registered.(edited) What legal firm represents MyBit? Mayerlustenberger Lachenal (MLL) which is one of the top law firms in Switzerland, with offices throughout the EU. They have a strong history in the fields of start-ups, energy, fundraising, and international law which made them a perfect match for our needs.
Who are your partners?
Please review the partners section of the website and our blog to monitor updates on the partnership side of our business.
How much funds have you raised?
During Phase 1 of our TokenSale we raised 10,044 Ether which at the time was approximately CHF 2’700’000. Are you planning a future funding round and why? Yes, however it will not involve issuing more MyBit Tokens above the current maximum supply of 180.000.000.

The Business Model

How do you monetise?
All Assets funded on the MyBit platform are assessed a 3% fee 1% which goes to the foundation to cover ongoing operations and upgrades, 1% to the MyBit DAO, and 1% is used to buy back MYB from exchanges and burn it.
Who will maintain the platform?

The MyBit DAO is in charge of maintaining the platform. Who will upgrade and add new features? The MyBit Foundation and MyBit AG will collaborate to implement new features and upgrades. All DAO members are welcome to contribute and submit propositions for additional features which may be integrated after voting, rigorous auditing, and approval.
How does regulation affect MyBit?
MyBit currently complies with all regulation and is governed by the Swiss Foundation Authority. However, please note that regulation may prevent MyBit from entering certain markets and/or servicing certain users.
What markets are you targeting?
Initially MyBit will be conducting testing in Europe and Dubai. The first market MyBit will fully target is Europe, followed by Japan, China, Latin America, Australia, and North America. Dubai may be used as a testing bed for new products.
What industries are you targeting?
Initially we are focused on Autonomous vehicles, renewable energy solutions such as solar, cryptocurrency ATMs, cryptocurrency Mining, decentralised storage units and Smart IoT devices but any IoT device or machine that generates revenue can be integrated into the MyBit platform.(edited) Section 3: The Platform
What is MyBit?
MyBit is a company building ethereum-based products (aApps) which enable a range of income generating and collaborative transactions to take place without relying on a middle-man, broker, or intermediary fund. How does MyBit Go work? Similar to kickstarter or like investment platform. Users can log on and view assets to invest in. Smart contracts govern the entire process and act as a digital broker so you can be ensured the terms of your investment will be followed.
Why would I use it?
MyBit is the first platform to streamline investments into the technologies of the future. To invest in these next generation IoT assets via another platform or service would involve sending your capital to a third-party fund which creates counterparty risk, reduces personal control, and exposes you to exorbitant management fees.
Who are MyBit Go's competitors?
Traditional investment funds are the main competitor, with their advantage lying mainly in their existing client relationships.
What is the competitive advantage? Traditional funds cannot compete with MyBit’s security, speed, and low fees because their business models and overhead infrastructure cannot easily be redefined to match MyBit’s benefits.
Is it secure?
On one end it is very secure compared to traditional funds because you are in control of your capital from start to finish and do not have to rely on a third-party to fulfill investment terms and entrust them with your money. All of this is automated with immutable blockchain-based smart contracts (or computer code that cannot be altered or manipulated in any form). On the other end of the spectrum Ethereum and Blockchain technologies are still largely untested and in their infancy which creates risks, so it is important for everyone to perform their own individual assessments. Do I have to pay to use the platform? Yes, there is a one-time fee required which differs based on features you wish to use. These one-time fees are paid in MYB and then the MYB is removed from the total supply.
How do I fund Assets?
It is as simple as logging onto the platform, finding the project you want to invest in, and sending Ether to the listed smart contract address. Then everything is automated and you will receive revenue distributions shortly after the asset begins generating revenue.
Who can fund assets?
MyBit scales to meet the demands of any user ranging from small individual investors to large institutional funds. Please note that users may be subject to different onboarding requirements based on investment amounts, legal structure (if entity), and location.
What currencies can I use to fund Assets?
Uniswap has been integrated to facilitate multi-token funding, this is a back-end conversion service that enables asset funding in any supported cryptocurrency with enough liquidity. Investment is denominated in DAI which is a USD stable coin, and In the future we hope to also implement fiat options.
How often do I receive revenue?
It is available for withdrawal at the discretion of the user. We aim to make our Blockchain powered, revenue distribution management system as real time as technically possible.
What currencies can I receive revenue in?
By default it will be received in Ethereum, but we will integrate a conversion layer to increase the amount of cryptocurrency options which it can be received in. In the future we plan to implement Fiat payment; However, that is subject to the cost-effectiveness and local regulations. What is the onboarding process? This is yet to be set in stone but we will be partnering with a compliance company to manage all onboarding and user KYC/AML. This can differ substantially based on location and capital amounts.
How do you establish fractional ownership on the blockchain?
Fractional ownerships is achieved by smart contracts and crypto movement recorded on the ethereum blockchain. Physical ownership is recorded through ownership of tokens in a smart contract. More units of cryptocurrency that are contributed to the initial whole of the funding requirement equates to more fractional ownership. For example, if a solar panel costs 100 units of ether then contributing 30 units of ether to the smart contract results in 30 percent fractional ownership which are stored in the smart contract.
How will ROI be determined?
The ROI associated an IoT Asset will be determined by the installer or producer of the asset and reviewed by the MyBit team to increase accuracy. We cannot guarantee the complete accuracy of the ROI estimations; however, as more assets are funded on the the MyBit platform, the data will be aggregated and analysed to increase the future accuracy of ROI projections.
Is ROI accurate?
ROI is reviewed internally by the MyBit team to help ensure accuracy; however, MyBit cannot guarantee the ROI. The ultimate decision to invest based on the ROI and its accuracy is the responsibility of the investor. Investment ROIs will get more accurate over time as we accumulate more investment data via the machine learning practices we will implement. How will tax credits and asset depreciation be handled by the platform? Tax credits towards the purchase of solar are priced into the asset funding price. Personal tax credits and depreciation expense are left to the investor and we advise to seek the advice of a certified tax professional.
Can investors sell and transfer their shares of ownership?
Not with the initial launch of the platform. Implementation of this feature is prioritized after initial testing and scaling.
What happens when a dispute arises?
All terms are recorded immutably upfront in smart contracts before they are deployed. When any dispute arises it is up to the parties involved to solve it - we recommend seeking third-party arbitration.
Are there a minimum or maximum number of investor limits per asset?
The minimum number of investors is 1. Each lister of an asset will determine if there is a maximum number of investors. Once a smart contract reaches its full funding requirement then the asset is locked from any further investments effectively capping off the number of investors.
How do you handle depreciation?
When choosing partners who will be listing their assets on the MyBit platform we review that the rate of revenue generation is greater than the rate of depreciation + operating expenses (projected)? This ensures that more profits are coming in than being lost to expenses and depreciation and that the total revenue generated over the asset's "normal" lifespan exceeds the cost of the asset. The majority of assets will be designed to operate (and generate revenue) until their lifespan is over, rather than deal with depreciated re-sale value. Therefore, we do our best to partner with companies whose assets can generate profits at a rapid rate to achieve full ROIs well in advance of the asset's life ending. Section 4:
The Token What is the use of the MyBit Token?
MYB is a utility token which is used to pay the one time fee to access different features of the platform. It will also be used as escrow by the Asset Managers to incentivise them to complete their work as needed. Staking is also planned to be added in the future.
How does staking MYB work?
More information will be made available prior to the Beta Release scheduled for Q4 2018.
How do I trade assets I own?
Typically, investments such as this are illiquid - meaning that you often have to wait until the profits exceed your investment to gain a full ROI. Or you have to sell the asset in full to obtain cash. MyBit lets users sell a portion (or the full amount) of their ownership to someone else in exchange for cash. The buyer is willing to complete the purchase to capitalise on the existing and proven revenue streams of the asset. So there is potentially a whole business opportunity in taking the risk of funding assets with unproven revenue streams and selling them shortly after at a premium if revenues surpass projections.
Is MYB considered a security?
No, MyBit is a utility token used to access the MyBit platform. The MyBit platform enables investments into IoT devices, but the token does not directly which keeps it in compliance with regulations. Also, there is no truly passive revenue distributions purely from holding the MyBit token due to users having to participate in staking, similar to how Ethereum is migrating their structure.
What exchanges is MYB on?
MYB is currently on HitBTC, EtherDelta, and Cryptopia.(edited) Where can I store MYB? MyBit can be stored on an exchange or any Ethereum wallet that supports ERC-20 tokens such as MyEtherWallet, Parity, or Mist.
How do I add MYB to MyEtherWallet and others?
You must add the custom token address via your wallet: 0x5d60d8d7eF6d37E16EBABc324de3bE57f135e0BC Additional parameters that may be needed include: name: MyBit Token , Symbol: MYB , Decimals: 18
Do you burn tokens?
Yes, one-time platform access costs which are paid in MYB. Section 5: Other When will the Alpha be released? It was released in private on May 10, 2018.
What is a Brand Ambassador?
MyBit uses a Brand Ambassador strategy to have supporting members of our community host informational meetups around the world to spread awareness.
How do I become a Brand Ambassador?
Send us an email with your location and experience in the crypto-industry and we will coordinate an interview with you.
When will the Alpha be released?
It was released in private on May 10, 2018.
Are you hiring?
We are always looking for passionate innovators to join the team. Send us an email if you are interested in exploring full-time options or wish to become a Brand Ambassador.

MYDAX

What is MYDAX?
MYDAX is the MyBit Decentralised Asset Exchange which is the world's first Blockchain-based truly decentralised exchange for IoT Assets.
What can I use MYDAX for?
MYDAX is designed to securely create a market for buyers and sellers of historically illiquid alternative assets without relying on third-party brokers and agents to establish trust. This creates a more fluid, secure, and profitable user experience.
Will only assets funded on the MyBit DApp be on MYDAX?
No, the beauty of MYDAX is that any IoT asset, either those funded directly via the MyBit DApp or those already funded, deployed, and generating revenue can be tokenised.
Why would anyone want to tokenise an existing IoT asset?
Liquidity. A large risk in alternative asset investing is the lack of liquidity - the inability to easily, securely, and cost-effectively find a buyeseller. MyBit streamlines this currently erroneous process with smart contracts.
How is it more secure and faster than traditional secondary markets?
By integrating Blockchain technology, we are able to automatically establish trust and proof of ownership so buyers/sellers are not reliant on third-party verification services to prove ownership (to the extent currently possible). Blockchain also creates transparency so financials can easily be audited (and trusted), and the exchange between ownership and cash does not require an intermediary which eliminates counterparty risk.(edited)

Asset Manager & Staking

What is the role of the asset manager?
Many assets still require oversight, maintenance, and other operational requirements that are currently best completed by a human. The asset manager is rewarded with a percentage of the asset's revenue for his work.
Why reward the asset manager with a percentage of revenue instead of a fixed amount?
By taking this approach, it encourages the asset manager to complete his job to the fullest of his/her ability, as their work input should theoretically have a direct impact on their monthly profits. Fixed amounts often create complacency and laziness.
What percentage of revenue does the asset manager receive?
We believe in a free market approach where the asset manager can choose their percentage. We anticipate that it will typically range between 5-10% for an average asset. If the perecentage is too high, then investors will in theory not fund the asset, which will lead to an equilibrium percentage over time.
How are investors protected if the Asset Manager does not perform or meet requirements?
Investors of an asset can utilise our (anticipated) integration with Aragon to vote on removing an Asset Manager and replacing with a new one. This requires 51% of voting consensus. Investors voting power is equivalent to their percentage stake in the asset.
Does the Asset Manager have any money at stake?
Asset Managers are required to lock MYB in escrow as collateral to incentivise them to perform their duties. If they are removed from their position, the escrowed MYB will be forfeited to the new Asset Manager. When can Asset Managers withdraw escrowed MYB? Asset Managers can withdraw MYB in proportion to the percent ROI the asset has generated. For example if an asset is at 25% break-even, meaning it cost CHF 10.000 and CHF 2.500 has been distributed to investors, then 25% of escrowed MYB is elgible for withdrawal. The percentages at which withdrawal is available are: 25%, 50%, 75%, 100%.
After Asset Managers withdraw 100% of their escrow what incentivises them to continue?
The monthly revenue streams they are receiving. It is important to note at this stage, Asset Managers have no financial-risk because they have received their full escrow amount back, but investors have received 100% of their initial investments back so the risk of any loss is mitigated. How can I trust an Asset Manager? Asset Managers will receive a trust level based on a proprietary trust algorithm we are developing. This will also give suggestions as to the escrow range they should follow.
What if an Asset Manager cannot afford the average escrow?
This is where staking comes into effect. Hodlers of MYB can "stake" or post the required escrow for Asset Managers and in return receive a portion of the revenue stream assigned to the Asset Manager.
What percentage of revenue do Stakers receive?
Much like the free market model where Asset Managers can choose their revenue percentages of an asset they are managing, we believe that this should also be up to the discretion of the Asset Managers and Stakers. If an Asset Manager offers to low of a revenue share agreement, then in theory they will not have their escrowed covered by any Stakers.
How are revenue share agreements enforced?
Everything is done with smart contracts, so you can be sure it will function exactly as planned without any human risk.
When can stakers withdraw their staked MYB?
The same eligibility as Asset Managers - based on the revenue generated by the asset compared to the asset cost.
Can escrowed amounts be crowdfunded by stakers?
No stakers are required to post all or nothing. In the future we may implement crowdfunded staking, but currently it is not an option.
Are assets listed for funding prior to having escrow requirements met?
No, no assets will be listed to investors until 100% of the staking requirements are met.
In what form of payment is revenue received?
Ethereum by default; however, third-party conversion services may open up a variety of different crypto and fiat currencies which revenue can be received in.
submitted by MyBit_DApp to MyBitToken [link] [comments]

Why is the increase in prices for cccr token expected?

Why is the increase in prices for cccr token expected? Token CCCR is a utility token that provides access to all C3 services.
Tokens all cccr will be used in microservices C3. In particular, the Commission on the C3 platform will be paid in tokens all cccr. Exchange Commission on the C3X can be paid in bitcoin and tokens all cccr. CCCR current is used by default when paying commissions and gives the user a 50% discount.
According to the analysis of the cryptocurrency market, our financial analyst concluded that at the end of Q4 2018 the CCCR token is expected to grow due to the:
One of the main goals is to involve partnerships and integration with the launch of blockchain within the developer program. The developer of the application will be able to attract its customer base, as well as to use the existing database of customers and partners
PROGRAM FRANCHISE BUILT ON TOXES ALL CCCR Franchise package "Business" costs 300 tokens all cccr. Selling this franchise program will generate demand for tokens. In addition, all of the franchise fee will be paid in tokens all cccr, which will ensure the circulation of tokens.The uniqueness of the C3 platform. Competitors and plan to win the game. Today, the global banking system generates about $ 1 trillion a year worldwide. According to McKinsey research, banks may lose 40% to 60% of profits in this area by 2025 due to younger and more flexible FINTECH companies offering cheaper and convenient services to consumers.
Because of this rapid market dynamics, more and more competitors are emerging all over the world. New companies want to conquer different countries on a global scale, offering new payment methods. Despite the popularity of cryptocurrency, blockchain technology and its features look attractive to people to change their future lives. In addition, when any government starts to support crypto trade and any crypto-active activity, and regulation allows to get official profit from it, new companies begin to carry out separate ICO with separate ideas.
However, they don't all seem very unique. Most often, ICO projects present their idea as a new payment system of the future. They also issue utility tokens that can only be used inside the platform. When you create a new payment method, they also create plastic cards that allow you to store crypto assets. Most often it is a complete list of features that they can offer.
Among all these projects, C3 stands aside. It is not just a new payment system and a symbolic economy. The main goal is to enable any participant to profit from all activities related to cryptography. It can be trade, storage, investment and withdrawal of funds.
Soon the list of distinctive features of C3 can be described as follows:
C3 digital currency exchange pamm-accounts 50% of the company's profit from cashback will be used to buy tokens on the exchange Bounty and referral tokens will be redeemed before exchanges are achieved - our marketing supporters will have the opportunity to withdraw money after the end of the ICO Money transfers to other users without Commission will be free and instant. We will develop our own system of calculations Convert cryptocurrency to Fiat and back with a Commission of only 2% of the transaction amount C3 in all major retail chains, hypermarkets, cafes, restaurants and service centers to create joint partnership programs. Up to 30% of the amount spent will be refunded if you pay for goods and services using your Crypto credit card at these locations Both internal and third-party add-ins will be available to extend the functionality of the C3 wallet. The wallet will be shipped with several preinstalled add-ons to familiarize the user with the features of the wallet and participate in the ecosystem A key feature of the expansion is the monitoring and aggregation of the best offers in the consumer lending and microcredit markets. The project is unique, introducing blockchain technology to provide alternative options for choosing credit instruments. Possibility of passive repayment of interest and principal This is not a complete list of outstanding features of the C3 platform.https://cryptocreditcard.io/?uid=uid10411 #cryptocreditcard #C3 #CCCR
submitted by leha4000 to C3Card [link] [comments]

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The local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here. The post McKinsey: Majority of Banks May Not Be Economically Viable appeared first on Bitcoin News. For instance, McKinsey estimates that revenue from cross border payments grew by 11% to $1.9 trillion in 2017. Moreover, McKinsey projects cross-border payments revenues could grow to $3 trillion by 2023. How Stablecoins could greatly expand the digital economy and cross-border payments Retail banking continues to tread with caution before adopting blockchain, and it is Bitcoin’s 2017 rise and fall scenario which drives the distrust according to a recent report A wallet in the physical world contains multiple pieces of your identity. Imagine your passport, drivers license, medical card, and other types of IDs being replaced by a single digital wallet on your phone. A driver’s license can is used to prove your ability to drive, to buy alcoholic drinks or accessing identity-specific services like ... McKinsey has put an estimation of USD 4 billion in annual savings simply by adopting blockchain solutions to use in cross-border payments. New clients and their onboarding costs could save an additional USD 1 billion every year. One step further in fraud prevention and blockchain applications could rein in a hefty savings of up to USD 9 billion. Even with all that, co-author Atakan Hilal says ...

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How Bitcoin Works

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