Co-Founder Of Blockchain Capital Says That The Release Of New Cryptocurrencies From Businesses Isn’t “Unreasonable”
There is a strong possibility that multinational firms could end up creating their own cryptocurrencies. Gavin Brown, the co-founder, and director at Blockchain Capital Limited commented that this idea isn’t “unreasonable” right now while speaking at the Credit Suisse Global Supertrends Conference, hosted in Singapore. According to reports from CNBC, the director said that it would be possible to create a CNBC coin as the “democratization of money” happens.
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To further explain this concept, Brown brought up prepaid cards for Starbucks. With “over a billion dollars of assets work on their balance sheet” of people that like their morning coffee enough to buy a prepaid card, it is clear that they trust the brand to be around and that they like spending their money with the company. Considering that there are some companies with better credit than others, like McDonalds over the whole government of Ireland, there is a chance that multinational companies could easily get involved to start using crypto as something between an asset and a loyalty credit.
Brown believes that the next “big one” that could happen is most likely to be Facebook coin, even though the company has yet to actually confirm that they’re following this path. However, reports indicate that the social media platform has been working on crypto asset to tie directly with fiat currency, which will be used through their messaging app. So far, both Bloomberg and the New York Times have run this report, and Facebook still has not expanded on the work.
When asked if it would cause too much confusion to have many companies simultaneously offering their own tokens, Brown commented that the mostly likely outcome would be “groups or alliances” developing. He even called the launch of the JPM Coin by JPMorgan Chase a “really intelligent play.” However, the rise of the coin’s popularity will ultimately dictate how strong the asset becomes.
Pundi X Launches Africa’s First Blockchain Smartphone
While at the GSMA Mobile 360 Africa event on July 16, 2019, Pundi X, a distributed ledger technology (DLT) startup launched XPhone, a blockchain-based smartphone in Kigali, Rwanda. XPhone is the first blockchain-powered smartphone to be unveiled in Africa, reportsNewtimes on July 17, 2019.
First Blockchain-based Smartphone to be Launched in Africa
Per the report, Pundi X has released XPhone, the first blockchain-based smartphone launched in Africa. The XPhone can make calls, text, take photos and surf the net amongst other things with the help of the distributed ledger technology.
As a result, it bypasses local service providers in Rwanda such as MTN and it is decentralized in nature without any third parties involved in its transmission, ensuring that the user’s data remains private.
XPhone also differs from other smartphone devices because it is neither powered by Android, iOS, nor Windows Operating systems, but the Function X (FX) OS which is based on blockchain technology. The smartphone allows for a seamless transition between traditional Android to blockchain mode..
Pundi X to Release 5,000 XPhones in Late 2019
Notably, the Pundi X team has revealed its intention to release 5,000 XPhones in late 2019 and that it is looking for telecommunication companies to partner with in order to launch more of these devices.
The blockchain company had recently completed integration support on its XPOS module on Verifone’s X990 in a bid to enable retail outlets to process crypto payments as well as fiat transactions.
Nonetheless, there are regulatory concerns in the Rwanda which may negatively impact on the adoption of its new blockchain phone. Rwanda citizens may also be adamant about adopting the devices due to the sceptical nature people have about complex technologies.
It is, however, remarkable to see an increasing rise in the launch of blockchain smartphones in 2019, even though they are powered with their respective operating systems.
Electroneum, a blockchain company on February 25, 2019, launched a low-cost blockchain smartphone which features the company’s cloud mining technology and mobile crypto mining app to enable users to earn its ETN native token.
In the same vein, technology company Sirin Labs which launched its Finney blockchain smartphone in 2018 announced on March 21, 2019, that it will be integrating MyEtherWallet into the phone. BTCManager on April 29, 2019, also informed that the electronics giant HTC is planning the launch of a second-generation blockchain-based smartphone by the second quarter of the year.
Mining Disrupt Conference 2019 – BlokTech Organizes The Premier Digital Asset Event in The US
BlokTech Network, the leading community builder in the Blockchain space with global reach, is organizing a two -day digital asset event in Miami, Florida on July 23 & 24, 2019.
The goal of the conference is to highlight upcoming startups, technologists and entrepreneurs in the blockchain space. The Mining Disrupt Conference [MDC] will take place at the DoubleTree Hilton Hotel convention center where top experts, influencers, and strategists from across the world are expected in this unprecedented event.
According to Robin Lam, Co-Founder of BlokTech Network.
“Every year, Bitcoin becomes more scarce than before as evident in its lowest price value increasing. But yet, only less than 10% of the world population know about it, let alone understand. This conference – Mining Disrupt – will put you ahead of the curve.”
Hosted in Miami, considered to be the gateway to South America, MDC is strategically positioned to attract individuals from all over the world. Having secured world-class speakers in the industry such as Haijiao Li, Director of overseas operation at Bitmain & COO at Bitmain Antpool, and David Vorick, CEO and co-founder of Oblisk ASIC Manufacturer, MDC promises to provide the ideal opportunity to connect with innovative and talented individuals across the cryptocurrency and blockchain industry.
The President of Florida division, Fernando Rivero said:
“I’m excited to leverage what I’ve learned and observed over the years and provide a conference that fosters collaboration and education.”
Founded in September 2017 by Robin Lam, BlokTech Network growth has been exponential, starting in Miami and eventually expanding globally with branches in Latin America, Atlanta, North Carolina, and Los Angeles. The company’s headquarters is in Miami, Fl.
However, BlokTech’s network is global, with strong industry players and up-and-coming talent that will carry the company’s vision forward. A network that has already help secured top speakers from the blockchain community and more speakers and panelists are being gradually released to the public as part of the marketing plan.
New Blockchain Technology Puts Focus On Security
A cryptocurrency startup is revolutionizing the way blockchain and crypto work. ILCoin is a project that boasts of its own pioneering technology that makes blockchain more secure if that’s even possible.
When Bitcoin was introduced in 2009 by Satoshi Nakamoto, the first cryptocurrency changed online transactions forever. It was also the first time blockchain was put in the mainstream limelight and everyone in the industry was gobsmacked, to say the least. It was a pure genius — a decentralized digital ledger that cannot be modified, secured by cryptographic hash and without a governing body.
However, over the years, chinks in its armor were slowly revealed. But this has since changed with newer technology reinforcing blockchain’s security and adding to its advantages.
Founded in 2015, ILCoin aims to become a new, global digital currency-based economic system wherein members can earn, accumulate, spend and trade ILCoins to benefit not only the currency owners but the entire community as well. The cryptocurrency was initially conceptualized as an alternative to Bitcoin.
While ILCoin has joined other digital coins in being listed on several exchanges, what makes ILCoin stand out from all other cryptocurrencies is the technology that powers it.
ILCoin is built upon a decentralized cloud blockchain — the world’s first data storage platform based on a decentralized blockchain system that can remind services off-chain how it relies on storing data with an on-chain system. The technology is based on the SHA-256 Proof-of-Work algorithm.
As if SHA-256 wasn’t enough, the ILCoin Dev Team took the technology and put a “hack-proof” vest around it for even more security. The crypto’s Command Chain Protocol [C2P] eliminates all security risks associated with quantum computing, including hacking, double spending, roll-backs, and any other malicious activity.
C2P was established to deal with the biggest issue facing cryptocurrency — “51% attack,” or an attack on a blockchain network by a group of miners who control a majority of a network’s computing power [more than 50%]. This would allow them to disrupt the network — prevent new transactions, halt payments, reverse transactions and more.
Other than 51% attack, C2P has been created in such a manner that it is also insusceptible to quantum computers and the immense computing power and the hash rate they can bring to the table. No matter how big, the hash rate alone is not enough to overcome C2P due to its unique 3-layered system based on digital signatures. The protocol’s structure effectively future-proofs ILCoin’s blockchain against the impending threat of quantum computers, which pose a considerable danger to the majority of existing Blockchain systems.
Norbert Goffa, ILCoin Executive Manager explained:
“At ILCoin, we follow the defensive blockchain approach – with security being the main focus, we are trying to eliminate the current issues of present systems which, in their current state, allow too much room for malicious attacks.”
The technology has already been recognized by cybersecurity specialist Palo Alto Networks Partner, who presented ILCoin Dev Team with a certification earlier this year.
Mr. Goffa further said:
“From the ILCoin Development Team’s standpoint, the real breakthroughs in cryptocurrency can only be brought about by the resolution of security issues and after the users become freed from the threat of attacks by hackers.”
Apart from the success of C2P, ILCoin developers also hope to achieve the same success with each of the future projects. The team is looking to expand to its crypto exchange listings. It also aims to be able to create smart contracts on its network before the end of 2019.