Everipedia is one of the blockchain-based projects that aims at revamping the world of online encyclopedia through the employment of the revolutionary blockchain technology. BlockPublisher recently got in touch with Chief Executive Officer of the platform, Theodor Forselius, as he explained the project in detail (the link to which can be found here) and shared his thoughts regarding blockchain tech and bitcoin overall.
Since bitcoin presents forward one of the first use-cases of blockchain technology, it is only natural to think about where it is headed in the future. In reply to the question regarding whether bitcoin will become a global digital currency or will it become the next gold, Theodor shared his personal opinions saying:
Theodor: “I definitely think bitcoin is here to stay, just because it was like the first coin and it’s definitely going stay in the future but I’m not really sure if it’s going to be used as a store a value or as like an actual like currency, it’s very hard to tell.
Obviously now the price has stabilized a bit and now people in the space are arguing that this is the way it’s supposed to be, it’s supposed to be stable so that you can use it as a currency. And then when it goes up everyone is like oh it’s actually like a store of value, it’s supposed to be like seen as a virtual gold. So I’m not sure. But I I do think the price of bitcoin will go up as blockchain becomes more mainstream and continues to grow in a more organic matter than it has until now. ”
Bitcoin is the leading cryptocurrency in the world right now in terms of market capitalization and its price does seem to have a significant effect on the entire market. 2018 did not turn out to be a good year for the asset. Moving into 2019, there are some major developments lying ahead that might help the asset grow and mature. Demands for regulatory frameworks are growing stronger and if regulations come in this space, they might help curb out the negative and illegal aspects that are largely linked with the digital asset.
Eyes are also focused on the decision that is going to be made by the United States Securities and Exchange Commission (SEC) regarding the approval of a bitcoin exchange-traded fund (ETF). This might help the asset get more acceptance from the institutions. Platforms like Bakkt are also trying to make their place in this space. All of these will help this nascent market get more developed and mature. It will be interesting to see how things turn out and if bitcoin is able to outgrow itself from its negative and illegal usage. While some say bitcoin will die out soon, as per Theodor and many others in the crypto game, bitcoin is here to stay.
Report: Quadriga CEO indulged in millionaire lifestyle using customer funds
Former CEO of Canadian cryptocurrency exchange QuadrigaCX, Gerald Cotten, whose death resulted in the loss of $190 million worth of customer funds and bankrupted the exchange, had reportedly been transferring user funds into his personal account and using them for personal gain, a report by Ernst & Young has revealed.
Ernst & Young (EY), Quadriga’s court-appointed monitor, has spent the last four months investigating the exchange and released its findings in its fifth report. During their investigations, EY discovered multiple incidents were Cotten had misappropriated user funds.
“Funds received from and held by Quadriga on behalf of Users appear to have been used by Quadriga for a number of purposes other than to fund User withdrawals,” the report reads.
The report continues, stating that user cryptocurrencies were not held exclusively in Quadriga’s hot and cold wallets. Instead, evidence has revealed that “significant volumes of cryptocurrency” had been transferred out of the exchange and into Cotten’s personal accounts with other exchanges. EY believes that Cotten either exchanged these funds or used them to trade on other exchanges.
Block.one’s CEO asserts Voice to be a mix of centralized and decentralized features
The controversy surrounding whether EOS network being decentralized has garnered huge attention in the past and continues even today. As the community continues to battle EOS’s innate nature between centralized and decentralized network, the firm behind it, Block.one’s latest product and the social media app Voice will be a mixture of both decentralization and centralization.
In the latest edition of CNBC Crypto Trader, Brendan Blumer, CEO of Block.one, the official developer for EOS cryptocurrency, revealed that the latest rollout has both the aspects. Talking about whether Voice is a decentralized entity and the revenues generated will be distributed across the community, the CEO said,
“We are absolutely decentralizing the economy of attention. If you think, that’s exactly what social media platforms are, they basically sell attention. So we are decentralizing the control over that component.”
Blumer further noted,
“When it gets into content moderation, and these sorts of things we are starting with centralized moderation, just to make sure that we can make it a compliant platform with multiple different types of jurisdictions.”
The CEO also said that in a longer term, Block.one will focus on a road to go towards decentralizing content moderation.
He also cited that blockchain is an excellent vehicle to disrupt the existing social media platform. It brings not only transparency and accountability to the table, but also leverages blockchain-based identity.
The latest blockchain-powered Voice roll-out on the EOS network, according to the CEO, aims to clean-up the behavior and autonomously recognize the values and distribute tokens which will allow people to be beneficiaries of the platform as opposed to just the company.
Kik CEO: The SEC “continues to divide and conquer the whole industry”
Ted Livingston, CEO of Canada-based messaging app Kik, has recently provided some more details regarding the ongoing case with the US Securities and Exchange Commission (SEC) during an interview with CNBC Crypto Trader.
Livingston begins by explaining the first time Kik heard from the SEC, stating it began three days after the competition of their token sale, held around 18 months ago. He says their interaction began as “friendly,” with the commission wanting to know more about what they were doing.
Then there were subpoenas and then testimony and finally they issued us a Wells notice in November last year. We issued them our Wells response. We took both those things public in January and then finally we said ‘enough is enough, let’s go public, let’s go to court’.”
NeuNer then asked if they thought the SEC would actually sue them. Livingston stated that they “weren’t sure” but they did know that the crypto industry needs more clarity and that’s exactly what they would receive whether the SEC sued or not.
“We said to the SEC ‘you’ve let us know you think there’s an infraction here, we’re gonna tell the world that. So one way or the other you’re gonna give us clarity. Either you choose to go ahead and we can fight this out in court or you back down’ and that in and of itself will be guidance.”
Livingston was then asked about the decision to fight the SEC. He says that while the commission originally had good intentions, “but what we’ve come to discover is they continue to divide and conquer the whole industry and everyone is in this state of fear of what the would SEC think,” adding that its hindering their ability to “compete on a global stage.”