Global blockchain-based mobile virtual network operator (MVNO) Miracle Tele aiming to disrupt the telecom industry has confidently scaled several milestones of its development timeline and has recently announced the closing date of its token sale earlier than scheduled with an exchange listing to follow shortly.
Miracle Tele began its crowdsale in 2018, and after several developmental achievements, and a huge community of supporters, the project crowns the end of its token sale on 15th May, 2019 with over $15.5 million raised from selling 50 million TELE tokens – well over its softcap target of selling 30 million TELE tokens. As the opportunity of a buy-in as an early supporter closes, Miracle Tele is offering a last chance to buy TELE tokens at a cheaper rate.
Arguably, the journey so far for Miracle Tele has been laced with technical, economic and social growth. Unlike many blockchain startups, Miracle Tele already has a working product with an incentive economic model that further aligns with their big plan to revolutionize the telecom industry. Achievements so far includes affordable call and data services and an accessible market in over 160 countries, where the TELE token offers real utility.
As part of their future developments, Miracle Tele plans to develop a blockchain system that integrates with legacy telecom and IoT systems – an opportunity to set themselves apart in the MVNO world as they stay connected in the smart ecosystem
As provided by the tokenomics details, the TELE token will list at EUR 0.5 per token once it hits the exchange, further fulling their pricing schedule, after which it is expected that market forces will determine the worth of the tokens as developments continue to unfold.
The Miracle Tele team boasts of an incredible team of experts with experiences that span several niches to include politics, business, telecom and blockchain-related industries. And there’s room for more.
On the team is CEO Andrew Burciks, a political scientist who has devoted the most of his recent years to advocating blockchain use in business processes; Aleksandar Djordjevic an under 30 CTO & Entrepreneur draws from his crypto enthusiasm; IBM certified blockchain professional CCO Sagar Bansal leverages his experience as a team player in more than 5 ICOs already.
The Miracle Tele project continues to attract more talents to the platform, with the recent addition to the team being an experienced marketing consultant Zia Word to chair the marketing department as the CMO. As part of her previous achievements, she developed and sold a blockchain-based global travel and loyalty platform Chozun.
Perhaps the most exciting use case of their tokenomics is the incentive model being adopted, built on the principles of collaborative economy on blockchain to provide its clients with biweekly token holder rewards.
Miracle Tele has its own ‘stacking’ system, users ‘stack’ their TELE tokens within the TELE app or website. Miracle Tele pays out 40% of their proﬁts to TELE token holders every two weeks and early TELE holders have already been earning beneﬁts as a proof of concept.
Once the token hits the exchange as planned, holders of the TELE token will have the option to either trade against other currency pairs, or stack their tokens and continue to earn bi-weekly rewards which are paid out in the Euro equivalent either in fiat or any cryptocurrency of choice.
To find out more information, please visit the website: https://miracletele.com/
Disclosure: This is a sponsored article
Waves Founder Sells Blockchain Startup to Russian Financial Consultant
A startup founded by the Waves platform team, Vostok, has been sold to one of the project’s earliest investors.
According to a report by Gazeta.ru, Waves CEO Alexander Ivanov “sold his stake” in the data management and smart city oriented project to Mark Garber of the financial consultancy GHP Group.
The Waves platform has developed blockchain solutions through partnering with some of Russia’s largest private and state-owned enterprises, as well as global firms, for institutional, industrial, and military use.
Vostok, in particular, aligned with the Russian state-owned conglomerate Rostec in 2018 to securely manage data for the firm’s 700 industrial entities. Additionally, the startup was instrumental in roadmapping the “digital economy” as part of the “Strategic Development Objectives of the Russian Federation up to 2024,” announced by President Vladimir Putin.
Ivanov told Gazeta:
“I would like to focus on the international development of the Waves Platform. The tasks of building a decentralized Internet of the new generation based on the blockchain (the so-called Web3), which we implement in Waves, require my one hundred percent concentration.”
Though details of the deal have not been disclosed, Garber plans to integrate Vostok’s digitalization solutions in GHP’s mining, production, and logistics projects.
Gazeta also reports that Garber holds a stake in the container transporting company Fesco and serves on the board of another trade logistics company, called TransContainer.
Vostok was formed in 2018. Its”Gorod N” project saw a partnership with Nizhny Novgorod region administrators to develop a civic voting and public budgeting solution, which reportedly enables citizens to vote on where tax dollars are spent.
Garber intends to keep the startup’s development team aboard, but will elect a new supervisory board. As part of their initiative to strike larger international deals, Waves will open a Berlin office.
Tether Stablecoin to Launch on 5th Blockchain
The popular and sometimes controversial stablecoin tether (USDT) is to launch on a fifth blockchain.
Announced by the (mostly) U.S. dollar-backed token’s issuer on its website, the news means traders will have a USD stablecoin option on omni, ethereum, tron, EOS and, soon, algorand.
“Extending Tether into the Algorand ecosystem is a fantastic opportunity for us to further contribute to blockchain interoperability and collaboration. … We are very excited about the potential this enables for other projects in the decentralised ecosystem and we eagerly await working closely with many of them in the future,” said Tether CTO Paolo Ardoino.
Tether is widely used by traders to move money in and out of cryptocurrencies like bitcoin without needing to exchange back into dollars with each trade. Crypto exchanges also use the token to transfer funds between each other to avoid having to move lots of bucks through not always cooperative banks.
Despite its widespread use in the crypto markets, the stablecoin has had its issues – including accidentally minting $5 billion USDT during a chain swap process last weekend.
Long a concern to users and regulators, Tether has never released a full accounting audit to prove its coin is backed by USD, as it claimed for years. Its lawyer recently acknowledged that, in fact, USDT was only about 74 percent backed by fiat equivalents as of April 30.
Tether’s relationship with its sister firm, crypto exchange Bitfinex, has also come under the spotlight, with claims the token has been used to prop up the price of bitcoin.
New York’s Attorney General’s office has further alleged that Bitfinex lost $850 million and subsequently used funds from Tether to secretly cover the shortfall, and said that Bitfinex had operated in the state without a license.
40-Strong Blockchain Insurance Group B3i Appoints CEO
Insurance industry blockchain group B3i, which is now building DLT solutions for some 40 member firms, has appointed John Carolin as chief executive officer.
Carolin, who joined B3i as chief financial officer in March 2018, had served as interim CEO since March of this year.
B3i began life back in October 2016 as a blockchain consortium and later became an independent company owned by 17 insurance and reinsurance industry big hitters like Allianz, Munich Re, Swiss Re, Tokio Marine, XL Catlin and Zurich.
The company added $16 million to its coffers back in March 2019, after suggestions it was trying to raise as much as $200 million, according to some reports.
Last month B3i, which aims to use distributed ledgers to streamline back-office processes and claims handling, held a hackathon to let industry members test its platform.
Speaking about the B3i hackathon, Carolin said:
“Our team of subject matter experts is highly motivated, especially following the very positive feedback received last month at our Hackathon to test the initial product.”
Last year, B3i decided to switch from Hyperledger Fabric to R3’s Corda platform. The move was followed soon after by another blockchain insurance consortium, RiskBlock, also moving to Corda.
“I look forward to leading the B3i team as we execute on a bold vision to enable better insurance through frictionless risk transfer,” Carolin added.