According to analytics, several prominent crypto influencers hold substantial amounts of money onchain. For example, Tron founder Justin Sun has more than billion in crypto assets. Ethereum co-founder Vitalik Buterin’s associated addresses indicate holdings of 5.25 million in digital currencies. Alongside crypto influencers, celebrities also possess a substantial amount of digital assets onchain. Tracking […]
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Why Cardano Could Be The Next Big Crypto Winner: An Influencer’s Perspective
In a recent video from the crypto-based YouTube channel Cheeky Crypto, the host underscores Cardano’s (ADA) approach, which separates it from its contenders, particularly its reliance on “academic rigor” and “research-driven development.”
Dropping out his reasons for being bullish on Cardano, the host highlighted the blockchain’s core use cases; starting in the video, the host defined Cardano as a proof-of-stake (PoS) blockchain platform developed using a “methodical, evidence-driven approach,” firmly anchored in the principles of “scientific research and academic thought.”
According to the host, the Cardano development team aims to “restore trust in the global economic system.” This involves creating technologies that “foster secure, transparent, and sustainable international business practices.”
Cardano To Become A Frontrunner
Diving deeper into the video, the Cheeky Crypto host disclosed that aside from advanced technology, the platform is also about making a “real-world impact,” especially in developing regions.
According to the host, the platform has initiated projects to provide financial services to the world’s “unbanked population,” which is estimated to be about .7 billion people. Cardano’s partnership with World Mobile in Africa is an example of such highlighting. The host noted:
They (Cardano) are working with projects like World mobile to connect more people to the world as well as in my opinion create new economies and change many people’s lives.
The Cheeky Crypto host also points out Cardano’s contribution to the decentralized applications (DApps) sector. With a keen “focus on security and scalability,” Cardano is creating a more stable environment for DApps., the host stated.
Discussing the blockchain’s functionality, the host identifies it as a “third-generation cryptocurrency,” addressing common challenges faced by “layer one blockchain adoption.” Pointing out these challenges, the host disclosed:
This issue covers a number of blockchain concerns including topics like scalability, interoperability, sustainability and security. So Cardano seeks to basically solve these issues through the development of design principles and engineering best practices.
Concluding the use cases the host highlighted that make him bullish on Cardano, he mentioned that initially, the blockchain could process only a limited number of transactions per second. The team developed Hydra, a layer-two scaling solution employing state channels for off-chain transaction processing to overcome this.
Hydra’s introduction marks a notable leap, enabling Cardano to theoretically handle over a million transactions per second, enhancing the network’s capacity dramatically. According to the host, these use cases are why Cardano could be one of the “front runners” in the crypto sector in the future.
Cardano’s ADA Navigates Bearish Waters
Meanwhile, despite these technological strides, ADA, Cardano’s native token, has been experiencing a bearish price action. Currently trading at .460, ADA has lost nearly 10% of its value over the past week. Analyst Ali has recently drawn parallels between ADA’s current consolidation phase and its pattern in late 2020.
According to Ali’s analysis, should Cardano follow its late 2020 trajectory, ADA could witness a substantial upswing, potentially reaching new highs.
#Cardano‘s current consolidation phase mirrors its late 2020 behavior. If history repeats itself, we might see $ADA resuming its upward trend around April. This pattern continuation could potentially lead to an upswing toward .80, a brief correction to .60, then ! pic.twitter.com/RuRA2EDMNP
— Ali (@ali_charts) January 19, 2024
Featured image from Unsplash, Chart from TradingView
NFL Star Trevor Lawrence and Youtube Influencers Settle Allegations Over FTX Endorsements
In a recent court document, Jaguars’ quarterback Trevor Lawrence and two others have chosen to settle allegations that they misled investors, leading to losses in the FTX collapse. Lawrence, among several high-profile endorsers of FTX, has not publicly revealed the terms of his settlement.
Jaguars’ Quarterback Trevor ‘Sunshine’ Lawrence to Settle FTX Endorsement Lawsuit
On Friday, Bloomberg’s Jef Feeley revealed that YouTube personalities Tom Nash and Kevin Paffrath, along with NFL star Trevor Lawrence, have settled allegations of misleading investors through their endorsement of the now-bankrupt crypto exchange, FTX. Lawrence, the quarterback for the Jaguars, joined FTX as a partner in April 2021.
By May 2021, Lawrence announced intentions to transform his entire signing bonus into cryptocurrency. That year, his bonus was a staggering million. Lawrence expressed his excitement about collaborating with Blockfolio, an FTX subsidiary. FTX had previously acquired Blockfolio, a leading portfolio tracking app, in 2020 for a cool 0 million.
Discussing the partnership, Lawrence stated:
When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust.
The renowned NFL quarterback is just one of many celebrities facing accusations of misleading investors through their FTX endorsements. Notably, Lawrence was part of a significant group of NFL players who embraced cryptocurrency in 2021, right before the crypto market soared to nearly trillion in November.
The settlement terms remain undisclosed by Lawrence and the Youtube duo. The attorneys spearheading the billion lawsuit against FTX’s celebrity promoters informed Feeley that they’re currently in “ongoing confidential, settlement discussions” with other parties. They anticipate the “likelihood that other FTX settlements will be reached.”
What do you think about Trevor Lawrence and the Youtube influencers settling in this lawsuit? Share your thoughts and opinions about this subject in the comments section below.
WeWay – An NFT Bridge Between Influencers And Their Fans
WeWay is meant to be a bridge uniting both influencers and regular people in one, single, platform. The platform works on providing a wide range of income opportunities for both groups of participants, bringing them together and allowing them to cooperate and interact conveniently.
Create and buy NFTs, receive fair income, trade, transfer funds, etc. The revenue system for content creators on the WeWay platform is backed by the WeWay token and the NFT marketplace. The creators must come up with a core feature that will build an economic system running on the latest blockchain tech and crypto technology within the WeWay platform. And of course, in comes the WeWay token.
The token’s primary purpose is to connect the simplicity and convenience of the platform that’s running on blockchain, popular content creators, and their communities in one place. In other terms, the WeWay token is the internal asset for the influencers to use, having their token pools when coming to the site and allocating them among their community.
Abdeselam Mohamed Riduan, Head of Business Development and co-founder of WeWay says: “Users will no longer need to waste time on various payment services to make a purchase or an order. It is enough for them to purchase an internal token to freely use all of the platform’s functions”.
Such an internal system will help creators monetize their content more efficiently, receive income from their activities, as well as launch fundraisings, raise donations, sell their NFTs, etc.
Plus, regarding NFTs, why not encrypt content into NFT and put it for sale? Sounds like a good idea doesn’t it? With this, devoted fans may purchase it via WeWay tokens in the open marketplace. This way, influencers may monetize their content by encrypting it into NFTs, a non-fungible token popular among investors and collectors lately. In other words, creating NFTs benefits both fans and creators, while one receives a highly valuable exclusive NFT, the other gains profit. Besides, fans may further trade the exclusive NFT, hence earning as well.
Bohdan Prylepa, СТО and co-founder of WeWay, commented on what kinds of NFTs can be obtained by fans in this case. According to him the NFTs can be pretty much everything involving the influencer. To enumerate a few, it can be some pics signed by celebrities, memes involving them, poetry, rare videos from influencers’ lives, funny situations from their lives, stories, songs recorded in real life, etc. Thus, given the platform’s scale, the number of famous people on it, their aesthetic way of life and creativity, and the crowds of fans following them, one may only imagine how many interesting NFTs will end up being issues. And that’s without even thinking about the profit it’ll bring.
Fuad Fatulaev, CEO and co-founder of WeWay commented:
“We’re the first platform to provide a wide range of tools to bring creators and fans closer together. On “WeWay”, any user can become part of the content of their favorite creator, receive unique products from them or try out new ways of interaction. There are no functionally identical sites on the market at the moment. This engagement goes both ways: creators can set upvotes to decide on which activities will be done next, while fans can request petitions on fan-created initiatives. Our platform goes beyond that and it is our focus to set up a fundraising mechanism within the platform, a donation tool to support exceptional creators and ideas, and last but not least, a marketplace of exclusive offers from creators, including NFT collectibles and content. And all transactions that take place on our platform can be made using the WeWay token. We are the only ones who combine the traditional social media model with market experience (physical and intangible exclusive goods) and the latest technology to power it up in the shape of blockchain and NFTs”.
However, what WeWay wants to accomplish cannot simply be defined by that. The creators of the platform are working on making it as appealing and enjoyable as possible for influencers to come and register on WeWay, that’s that core goal so far. Working on the platform usually makes it much easier for influencers to receive income by finding sponsors, as well as gain a much larger community.
Being on one platform with that many fans makes every party involved feel closer and creates a feeling of accomplishment but also belonging. This is especially true for fans because as a regular person you’d usually just associate the world “celebrity” to “unattainable” or “unreachable”. Thanks to WeWay though, this is inaugurating the beginning of a new era, one where modern trends and technological progress really bring fans and celebrities together, maintaining a balance between science and art. Other platforms are rather niche-focused or just overloaded with content, leaving no space for interaction, while WeWay focuses exactly on that – interacting.
New technologies, blockchain, artificial intelligence – all these tools will be united under one prime goal – creating a WeWay platform that will be attractive, usable, convenient, transparent, and user-friendly for both regular people and influencers. One, that strives to provide fair revenues, new ways of interaction between celebrities and their community, convenient and easy ways to proceed transactions, thus opening new earning opportunities from this creation.
Yoola and eHold have united to build the greatest content platform for both creators and followers, where everyone will feel like a part of something really great on a worldwide scale. WeWay is eager to attract the most famous influencers and build the most comprehensive community, providing exclusive opportunities for both sides, allowing them to interact and even cooperate, trade, earn, covering all the possible segments and reaching all the audiences there is.
How NFTs Can Help Influencers Monetize Their Content
Traditionally, most people define NFTs as digital art, but there are many more potential applications. Let us take a look into what’s coming up next.
What is an NFT?
Non-Fungible Tokens (NFTs) derive their name from one of the properties that can make up a crypto asset. Cryptocurrencies, such as Bitcoin, Ethereum, or ERC-20 tokens are fungible, which means that all units in the supply are interchangeable with one another and retain their value if they are divided. In essence, when you hold 1 ETH in your wallet, you generally do not care which one out of the over 117 million ETH currently in existence it is.
NFTs on the other hand have special properties that make each token unique. In essence, an NFT gives you cryptographic proof that you are the sole owner of whatever virtual asset the NFT is associated with. These assets can for example be digital images, videos, music, but even more abstract things like intellectual property, digital usage licenses, or insurance policies. Depending on the type of NFT, you can freely list the token on an online marketplace, or transfer the token to somebody else’s wallet.
Influencers can turn their content into NFTs
One of the use cases for NFTs is the monetization of content. For example, influencers can convert their Tweets, YouTube videos, TikTok clips, or Instagram posts into NFTs and sell them. This can take many forms, such as adding digital memorabilia as a perk in exchange for donations or Patreon subscriptions. But with sufficient outreach, your content can be worth a lot more to your avid fans.
As one of the first examples, Twitter CEO Jack Dorsey turned his first-ever tweet into an NFT, which sold for almost 3 million USD. But the possibilities reach far beyond these one-off listings. For example, content creators could create limited copies of an NFT from the most iconic moments of their online career, or even mass-produce NFTs in bulk that sells at a lower price and target their average fans. Another option is to include intellectual property rights to their content in the NFT.
Finally, they can produce exclusive digital art accompanying their regular content. This both creates an additional source of income and can increase the content creator’s outreach in the digital art community.
The problem is that there is no streamlined solution yet to create NFTs on a mainstream level. The NFT marketplaces that currently exist require users to have at least some knowledge of cryptocurrencies and blockchain technology. In order to create NFTs, you need a crypto wallet with at least some amount of cryptocurrency on it to pay for the transaction fees. The same applies to buying and selling NFTs. This means that the circle of NFT creators and buyers is still limited to crypto insiders.
The Marketplace
The E-Commerce platform Uquid aims to combine the best elements from the world of Decentralized Finance (DeFi) and NFTs. At the heart of Uquid, there is an online marketplace that offers thousands of items, ranging from video games and software, over mobile credit and gift cards, to credit for utility companies such as electricity, internet, and insurance providers.
In addition to traditional payment options, the marketplace accepts various cryptocurrencies and crypto projects can even apply to have their own token added to the list. This combination of DeFi and E-Commerce allows buyers and sellers to cut out middlemen like payment services, which makes the exchange of goods and services more efficient and leads to savings for customers.
Most recently, Uquid has launched its own NFT marketplace, which is specifically tailored to the needs of influencers and content creators. In September 2021, Uquid plans to grow the number of NFTs on offer from 40,000 to over 1 million tokens. With the marketplace, users can directly convert content from their social media channels into NFTs. At the moment, Uquid is the only NFT marketplace that to fully supports YouTubers, TikTokers, livestreamers, and other social media influencers.
Uquid hopes to create a simpler and more efficient process to create and sell NFTs that do not require a crypto wallet. Instead, Uquid uses the same checkout system as on their regular marketplace for payments. Also in September, Uquid will release a buy-now-pay-later feature to their checkout system. Buyers can then have the NFTs sent to their Binance Smart Chain wallet, which is a more cost-efficient solution than Ethereum.
Image by Steve Buissinne from Pixabay
NewsBTC
How NFTs Can Help Influencers Monetize Their Content
Traditionally, most people define NFTs as digital art, but there are many more potential applications. Let us take a look into what’s coming up next.
What is an NFT?
Non-Fungible Tokens (NFTs) derive their name from one of the properties that can make up a crypto asset. Cryptocurrencies, such as Bitcoin, Ethereum, or ERC-20 tokens are fungible, which means that all units in the supply are interchangeable with one another and retain their value if they are divided. In essence, when you hold 1 ETH in your wallet, you generally do not care which one out of the over 117 million ETH currently in existence it is.
NFTs on the other hand have special properties that make each token unique. In essence, an NFT gives you cryptographic proof that you are the sole owner of whatever virtual asset the NFT is associated with. These assets can for example be digital images, videos, music, but even more abstract things like intellectual property, digital usage licenses, or insurance policies. Depending on the type of NFT, you can freely list the token on an online marketplace, or transfer the token to somebody else’s wallet.
Influencers can turn their content into NFTs
One of the use cases for NFTs is the monetization of content. For example, influencers can convert their Tweets, YouTube videos, TikTok clips, or Instagram posts into NFTs and sell them. This can take many forms, such as adding digital memorabilia as a perk in exchange for donations or Patreon subscriptions. But with sufficient outreach, your content can be worth a lot more to your avid fans.
As one of the first examples, Twitter CEO Jack Dorsey turned his first-ever tweet into an NFT, which sold for almost 3 million USD. But the possibilities reach far beyond these one-off listings. For example, content creators could create limited copies of an NFT from the most iconic moments of their online career, or even mass-produce NFTs in bulk that sells at a lower price and target their average fans. Another option is to include intellectual property rights to their content in the NFT.
Finally, they can produce exclusive digital art accompanying their regular content. This both creates an additional source of income and can increase the content creator’s outreach in the digital art community.
The problem is that there is no streamlined solution yet to create NFTs on a mainstream level. The NFT marketplaces that currently exist require users to have at least some knowledge of cryptocurrencies and blockchain technology. In order to create NFTs, you need a crypto wallet with at least some amount of cryptocurrency on it to pay for the transaction fees. The same applies to buying and selling NFTs. This means that the circle of NFT creators and buyers is still limited to crypto insiders.
The Marketplace
The E-Commerce platform Uquid aims to combine the best elements from the world of Decentralized Finance (DeFi) and NFTs. At the heart of Uquid, there is an online marketplace that offers thousands of items, ranging from video games and software, over mobile credit and gift cards, to credit for utility companies such as electricity, internet, and insurance providers.
In addition to traditional payment options, the marketplace accepts various cryptocurrencies and crypto projects can even apply to have their own token added to the list. This combination of DeFi and E-Commerce allows buyers and sellers to cut out middlemen like payment services, which makes the exchange of goods and services more efficient and leads to savings for customers.
Most recently, Uquid has launched its own NFT marketplace, which is specifically tailored to the needs of influencers and content creators. In September 2021, Uquid plans to grow the number of NFTs on offer from 40,000 to over 1 million tokens. With the marketplace, users can directly convert content from their social media channels into NFTs. At the moment, Uquid is the only NFT marketplace that to fully supports YouTubers, TikTokers, livestreamers, and other social media influencers.
Uquid hopes to create a simpler and more efficient process to create and sell NFTs that do not require a crypto wallet. Instead, Uquid uses the same checkout system as on their regular marketplace for payments. Also in September, Uquid will release a buy-now-pay-later feature to their checkout system. Buyers can then have the NFTs sent to their Binance Smart Chain wallet, which is a more cost-efficient solution than Ethereum.
Image by Steve Buissinne from Pixabay
NewsBTC
Meet the Influencers Bringing Blockchain To Mainstream Consumers
The next generation of influencers have arrived at the crypto scene and they are on a mission to oust outdated social media monetization practices and champion crypto-based content revenue models that empower autonomy, authenticity and consumer mass adoption.
Worth billion in 2020 and set to rise to .1 billion by 2025, influencer marketing is a scaling industry. Influencers are typically known for making money through sponsored posts and paid brand promotions on social media, but such methods have led to friction between influencers and their audiences. These brand deals usually happen off-platform through agencies and the reliance on advertisers to monetize has bound influencers into contracts and campaigns that stifle creativity. This has tarnished the industry with trust issues: only 10 percent of young consumers have a lot of trust in such promotions and 88 percent believe influencer authenticity should be more important than anything else.
At the same time, social networks have been fueling ads to monetize their platforms, in turn jeopardizing their user experience. Frustrated users are bombarded with sponsored posts from influencers and on top of that, with invasive ads. However, with ad blockers, banner blindness, and an innate sense of when to click the “skip ad” button, audiences have found new ways to circumvent, ignore and spot obvious selling techniques.
Consumer demand for more transparency and trust is nudging a growing subset of influencers to subsequently seek out alternative technologies and content monetization methods. Consumer-facing apps are harnessing blockchain technologies to meet this demand with crypto-based content monetization models. At the intersection of these two trends sits the WOM Protocol, which leverages blockchain technology to incentivize and reward an entire ecosystem of creators, authenticators, publishers, and advertisers through its native WOM (which stands for word of mouth) Token.
Driving Mainstream Blockchain Adoption
The WOM Protocol aims to bring blockchain to mainstream adoption and the WOM network is designed to grow through economic incentive systems that distribute rewards to everyone who positively participates in the network. Its strategic first partnership with video-based social commerce app, YEAY, enables users with absolutely no prior experience in blockchain technologies or cryptocurrencies to set up wallets, stake tokens and start earning crypto-based rewards for authentic content creation. Users can exchange their WOM Tokens for gift cards from major brands such as Adidas, Spotify, Playstation and many more (2,500+ brands across 150 countries). In December 2020 alone, some 153k reward transactions were executed.
This lowered barrier to blockchain entry is encouraging lifestyle influencers to migrate to the YEAY platform. Currently, more than 45 influencers, with a combined reach of more than 47+ million, are monetizing their product recommendations on the YEAY app, receiving WOM Token rewards for recommending the products they love. The highest earner so far received a payout of more than ,000 in WOM Tokens — despite earning nothing from the same activities on TikTok.
Some of the influencers on YEAY include the famous 13-year-old gamer, Faze H1ghsyk1, successful Youtuber and Streamer, GrantTheGoat, growing TikTok/Youtube and Instagram lifestyle influencers, Corey Campbell, Derek Trendz, Aya Tanjali, famous European songwriter and musician, Lukas Rieger, and many more.
The crypto scene is, of course, no stranger to influencers. There are many revered names leading the crypto and blockchain conversations on Twitter, with significant followings and a celebrity-status within the community. Even the most notorious of crypto influencers, however, whose reach typically extends into the hundreds of thousands, or at the upper end a million, would be considered a micro-influencer in the lifestyle scene, where followings typically reach into the millions. This makes lifestyle influencers the more powerful accelerators of blockchain adoption precisely because they can reach further into consumer markets far beyond blockchain and bring their young audiences over with them.
Growing Organic Market Demand
Aligning interests between creators, advertisers and platforms is actually possible, as enabled by the YEAY app and underlying WOM Protocol. On YEAY, creators are not paid to promote brands per se. Instead, they choose to recommend the brands and products they truly love and get rewarded specifically for those recommendations.
The more the YEAY app fills with quality product recommendation content, the more it boosts the supply side of the WOM marketplace. This in turn fuels organic market demand from brands, who can purchase WOM Tokens to gain access to authenticated recommendations for marketing and sales initiatives. Tools such as the WOM Campaign Manager enable such brands to launch campaigns to promote and boost the visibility of authentic content with the explicit consent of the creator. Meanwhile, plugins that can be placed directly on partner websites give brands and ecommerce platforms the ability to capture and feature this organic word-of-mouth content directly on their product pages.
At the same time, platforms have the opportunity to monetize their interface by using word-of-mouth content instead of invasive ads, which are more trusted than any other form of advertising.
Driving Network Growth
On YEAY, users get rewarded with WOM Tokens depending on the content engagement and a peer rating their content receives. This peer rating process — where members of the community stake WOM Tokens to rate content for its authenticity — means that fake or insincere content is naturally filtered out of the marketplace. For influencers looking for an alternative means of monetizing their content without compromising trust, this model provides an opportunity to rebuild more organic mutual relationships with their communities.
Mutuality is a fundamental pillar of the WOM economy, which has been built to encourage value-sharing as a key driver of network growth. This can be seen through features such as the Team Feature, which gives select creators the power to onboard friends and followers onto their team — and increase everyone’s WOM Token earning potential.
Crypto In Consumer Hands
Lifestyle influencers with no background in blockchain are turning to cryptocurrency monetization methods that have simplified the process of earning and spending crypto. These apps enable them to be rewarded for their “mindshare,” while staying true to themselves and their communities. Fairer distribution and mutual reciprocity are important ideals for this new class of social media monetizers — and their migration to consumer-friendly blockchain apps, bringing along their communities — may represent the tipping point to blockchain mass adoption.
About the Author: Anurag Gautam is an avid reader and Crypto Trader with a passion for creative writing for the past many years. By writing, he intends to help people flourish synchronously with pieces of his knowledge. His niche mainly includes blockchain, startups and business &technology. He has been working with startups, leaders, entrepreneurs and innovators.
Image by Dean Moriarty from Pixabay
Op Ed DApps Can Increase Audience Engagement for Creators and Influencers
n nn nn Many of us are familiar with the term DApp, which stands for decentralized application.Foundationally, a DApp is an application that runs using blockchain technology on a decentralized network of computers instead of on a central database. Transactions via a DApp require the consensus of all users on the blockchain. For example, a financial transfer transacted via any DApp cannot be completed unless validated by all computers in the network, sometimes refe
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What Influencers Are Saying About Cryptocurrency and Real Estate in 2018
A popular cryptocurrency analyst and pundit by the name of ‘Crypto Bobby’ yesterday recalled a discussion he had with a “NYC real estate broker” on his Twitter feed, who had apparently “sold a M apt in Brooklyn for $BTC when Bitcoin was 0, he took his commission in cash instead…”
Since then, Bitcoin’s value has risen exponentially and sits at ,162.22 at the time of writing. With an overall market cap of 0,227,625,605, according to CoinMarketCap.
As such, as Bobby relayed in his tweet that
“He wasn’t happy when I told him his k commission check would be worth over mil if he took BTC”
Ari Paul, CIO / Managing Partner of BlockTower Capital and proprietor of The Cryptocurrency Investor, followed up with a similar story in his reply.
Though unrelated to real estate he recounted a tale of similar regret and hindsight…
I met a working actress who was paid a dozen BTC when it was <0 when she was working as a PA and totally forgot about it until we chatted about crypto. We waited we baited breath as she recovered her Coinbase password. She sold when it was 0 )-:
— Ari Paul (@AriDavidPaul) July 30, 2018
Blockchain + Real Estate
Matthew Murphey, former Global Vice President at Renren (currently working across a range of advisory positions) stated in a piece published in Forbes earlier this year that “Cryptocurrencies Will Disrupt the Real Estate Industry”.
Murphy hails innovative companies which include “global real estate marketplace called Propy” which “operates a decentralized title registry and creates a space for buyers, sellers and brokers as well as escrow and title agents and notaries to come together to execute transactions using blockchain.”
NewsBTC has published itself a number of articles on promising new projects that have sprung up and grown within this previously untapped area also, including token based real estate investment platform BitProperty.
A long way to go
Whilst a large number of projects can be observed which attempt to bring cryptocurrency investment into the property investment paradigm (and vice versa), we have yet to see any of these examples breaking through and making continued headway either among investors, press, or the community.
According to recent coverage: ‘A Fifth of UK Millennials Would Rather Invest in Bitcoin Than in Real Estate’ which is a vast difference in opinion than what was presumably held by the same people when Bitcoin was in the 0s.
This claim is supported by the fact that the market value of all real estate grew by £517 billion year-on-year in 2015, and yet by only £493 billion in 2016 according to Statista.
Furthermore, another Forbes contributor by the name of Omri Barzilay laid out his own set of warnings to existing and potential homeowners seeking perform cryptocurrency-backed property transactions. Many of the reasons listed surround security, trust, and verification based concerns – to prevent fraud.
Until regulations catch up, or a highly secure block chain based real-estate project begins to develop a prominence in the market, we are unlikely to see the financial numbers match the ambition of the current roster of solutions.
We should consider ourselves at least a short while away from being able to declare the two a winning combination.
Featured image from Shutterstock.
The post What Influencers Are Saying About Cryptocurrency and Real Estate in 2018 appeared first on NewsBTC.
Chinese Influencers Call for Blockchain to Solve Food and Drug Safety Problem
As the Chinese population experience a food and drug safety crisis, with the latest scandal being a fraudulent rabies vaccine for babies, leading technology experts are confident that the blockchain could solve problems related to lack of transparency in China’s food and drug industries.
Decentralized Supply Chain May End Food and Drug Safety Scandals in China
The most recent drug safety scandal involved Changsheng Biotechnology, which was found to have forged documents relating to a rabies vaccine for babies, including product inspection records.
Its management is now under investigation by the police and the China Food and Drug Administration. Blockchain entrepreneurs, such as China’s biggest Bitcoin multimillionaire Li Xiaolai, are taking the debate to a national level. They are calling for the disruption of the pharmaceutical industry with the adoption of distributed ledger technology to restore public confidence in the health care system.
“If the entire vaccine supply-chain was to use the token-free blockchain solution to record everything from start to finish, then most of the problems in drug safety could be solved,” Li wrote on Chinese microblogging website Weibo.
A large number of blockchain initiatives have delved into supply chain management with the goal of making whole processes completely transparent as DLT would be able to trace and track the entire supply chain of any product by simply scanning quick-response codes. There is, however, one issue that could be fatal for the cause.
If Changsheng Biotechnology, the pharmaceutical company behind the latest drug scandal in China, were to use blockchain technology in its process, it could still manage to cheat regulators and customers. That is because if someone intends to falsify records, blockchain will carry that fake data, according to the research department of Tencent, who further explained that it is necessary to have regulations governing the use of the blockchain system.
Leonhard Weese, president of the Bitcoin Association of Hong Kong, believes the solution for the drug and food safety problem is not blockchain, but other decentralized and transparent systems, which are far cheaper and faster.
“Blockchains are slow and expensive. The amount of data that can be stored in them is minuscule. Instead, we should first figure out how to put it in a computer, then on the internet, and only then should we start talking about blockchains.”
Supply chain is a top priority for blockchain disruption. Recent projects include the G Coin, which aims to track the gold supply chain, and Coca-Cola‘s attempt to end forced labor.
Featured image from Shutterstock.
The post Chinese Influencers Call for Blockchain to Solve Food and Drug Safety Problem appeared first on NewsBTC.