- Using Blockchain to Engage with Fans
- Barcelona Joins Other Football Clubs on Socios.com
While FC Barcelona might be experiencing internal conflicts, the Spanish club is actively engaged in adopting the latest technology trends. The legendary club partnered with blockchain-based platform Chiliz.
USING BLOCKCHAIN TO ENGAGE WITH FANS
Barcelona said that its new agreement with Chiliz was part of its new digital and commercial strategy. The blockchain platform provider will help the Catalan club create its own token called Barça Fan Token, with the ticker $BAR. These digital units will allow holders to take part in polls related to Barcelona’s day to day activities and potentially win original prizes. Thus, the token will boost engagement between the club and its global fanbase. On a side note, Barcelona has the most fans in the world after Real Madrid.
Interestingly, Barcelona has been recently hit by a massive scandal. Team captain Lionel Messi, regarded as the world’s best player, criticized some comments of the club’s director Eric Abidal. Media started to speculate that this might be the last season for Messi at Barcelona. Elsewhere, Manchester City is watching the relationship between the player and the club very closely.
However, despite the difficulties at the top level and on the pitch, Barcelona demonstrates the importance of communicating with the fans.
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This agreement will give us the chance to set up innovative marketing and partnership activations with a clear focus on the digital realm to take the Club closer to our fans around the world. This agreement also forms part of FC Barcelona’s goal to become associated with leading brands that can help us consolidate our new commercial and digital strategy, with the development of new streams for the generation of resources helping to make us a benchmark both on and off the field.
BARCELONA JOINS OTHER FOOTBALL CLUBS ON SOCIOS.COM
Chiliz is the entity that runs the eponymous token on the blockchain platform Socios.com. The latter is a blockchain ecosystem that includes applications and tokens created for some of Europe’s biggest clubs. The Barça Fan Token will also reside on the Socios.com app.
Besides Barcelona, the platform also hosts fan tokens for football clubs including Paris Saint-Germain, Juventus, Atletico Madrid, and more.
Chiliz and Socios.com CEO and co-founder Alexandre Drefyus said in a statement:
We are very excited to welcome FC Barcelona to Socios.com, and even more excited to start engaging with their massive fan base around the world. With over 300 million fans worldwide, Barça’s fandom spans countries as well as cultures.
Do you think the new token will enable Barcelona fans influence major decisions at the club? Share your thoughts in the comments section!
Litecoin News Today – Litecoin LTC’s Correlation with BTC May Interrupt its Consolidation, February 27, 2020
- LTC’s correlation to BTC may interrupt its correction
- Litecoin’s daily chart posted a great increase since 2020 started
- The price of LTC could retest $71.94 position
Litecoin News Today – Since the beginning of the collective bearish pattern in the past week, the price of Litecoin recorded a correction. This correction has continued in the last three days to date. From February 24 to date, the price of Litecoin has gone through a decline of 25% as the coin’s value stretched from the $80 mark to its current level at $63.22. In the last 24-hours, the price of LTC has recorded a drop of 13.15%, but its overall trade volume continued to increase and stayed above LTC’s market capitalization at $6.11 billion.
Litecoin (LTC) Price Today – LTC / USD
LTC/USD Daily Chart Shows a Steep Increase Since 2020 Began
Litecoin News Today – Per data on LTC/USD daily chart, we can see a steep increase in the price of LTC evident since 2020 began. However, in the last 2 weeks, the coin has undergone some corrections. At press time, we can see a descending channel taking shape on the LTC daily chart. Which is something that now suggests the possibility of a bullish breakout in the next couple of weeks. Although the possibility of such a turnaround is significant, the bullish momentum is currently spiraling down in the industry. Currently, the price of LTC remains in close proximity to the $66.87 support point. However, the coin’s price will likely re-test some resistance at the $71.94 area in the next week. However, a continuation of bearish pressure in the market could potentially drag the price of Litecoin down to $58.06. A likely trading area for LTC remains between the $73.72 and $63.28 areas in the next month. Per the VPVR indicator, the positions at $73 and $58.06 are still substantially strong supports. Hence, there won’t be any neutral consolidation at the moment.
BTC’s Movement Also Played a Role in Litecoin LTC’s Valuation Recently
Another factor that may have played a huge role in Litecoin’s valuation is the price movement of Bitcoin. Over the past 10 days, Bitcoin had undergone corrections on three occasions, with the slump on 26 February pulling Bitcoin’s value to under $9333. Bitcoin’s fortune, as well as Litecoin’s future, may change under these circumstances if Bitcoin records a surge in price. The correlation between BTC-LTC has risen by 0.81% in the last week, which indicates that both cryptos are susceptible to any collective changes in the digital asset market. It is really difficult to analyze the market’s movement because of the inherent rise in volatility. Even though the trend looks bearish currently, prices might react to independent factors on the way to bullish recovery.
The G20 Eyes Cryptocurrency Standardization
In the first G20 meeting of this year, Finance Ministers and Central Bank Governors of participating countries discussed cryptocurrencies and stablecoins. Later, a statement was issued to advise countries to implement the cryptocurrency standards set by the Financial Action Task Force.
The first G20 meeting of 2020 was organized in Riyadh, Saudi Arabia, from 22 to 23 February. Leaders from the world’s biggest economies discussed creating a global regulatory framework for cryptocurrencies and stablecoins.
After the end of a two-day meeting, the G20 stated that:
“Building on the 2019 Leaders’ Declaration, we urge countries to implement the recently adopted Financial Action Task Force (FATF) standards on virtual assets and related providers.”
They also stated:
“We reiterate our statement in October 2019 regarding the so-called ‘global stablecoins’ and other similar arrangements that such risks need to be evaluated and appropriately addressed before they commence operation, and support the FSB’s efforts to develop regulatory recommendations with respect to these arrangements.”
According to G20, in spite of having lots of potentials, cryptocurrencies bear certain risks. These risks, like money laundering, illicit finance, and consumer and investor protection, need to be evaluated. Only after addressing relevant concerns, these cryptocurrency projects should commence operation.
Global standard-setting bodies are preparing reports on cryptocurrencies and stablecoins. These include the Financial Stability Board (FSB), the International Monetary Fund (IMF), and the FATF. They are also creating a roadmap to enhance global cross-border payments. The FSB plans to draft their report with possible responses for public consultation in April.
The last G20 meeting was organized in Osaka, Japan. There, the world leaders unanimously agreed to follow the FATF standards for crypto-assets and related service providers. The FATF also monitors how the countries implement the G20 recommendations.
The Group of Twenty (G20) is an international forum for the governments and central bank governors from the world’s largest economies. G20 was formed in 1999 and comprises of 19 countries and the European Union. The 19 countries are Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the United Kingdom, and the United States. The purpose of the forum is to plan and discuss economic and financial matters, as well as coordinate policies on matters of mutual interest.
How to Hide Your Bitcoin – Opsec, Anonymity, Cold Storage, Brainwallet, Dexes and Non-Custodials
In an era of increasing economic uncertainty, surveillance, specialized cybercrime and hacking, knowing how to hide bitcoin safely has become a paramount concern for crypto holders. Whether it’s by way of taking wise opsec measures, utilizing noncustodial tools, leveraging a DEX, or even storing seed phrases in your brain, there’s no shortage of measures that can be taken to protect your stash. This article seeks to detail some of the best ways anyone can use to ensure their coins remain safe from bad actors.
Safekeeping for Sats
A “satoshi” is the smallest unit of bitcoin, and when it comes to the popular cryptocurrency, keeping one’s stash safe down to the last sat is important. For those new to the space — and perhaps even for more experienced hodlers who’ve overlooked certain security precautions and tips — what follows is a list of ways to ensure your stack of satoshis remains in good hands: your own.
Opsec Best Practices
Opsec, or operational security, is highly important when securing crypto holdings. It’s not sufficient just to have any old two-factor authentication (2FA), for example, as some variants of the measure like SMS-enabled 2FA can still leave easy attack vectors. SIM jacking is one example of this, and all that’s required is an overly cooperative and friendly customer service worker at a cellular provider.
When it comes to hacks like SIM jacking, where an attacker swaps your device data to a new SIM card by way of social engineering, phone number 2FA won’t help, and gives an infiltrator keys to whatever account is secured by that means. Instead, using a 2FA app such as Google Authenticator — and not a phone number, is a better bet. Be sure to disable SMS 2FA on sensitive accounts — especially crypto exchanges — and switch to a more secure option. When a phone number can serve as a key to your crypto safe, hiding bitcoins behind such info is a bad idea.
For account passwords, usernames, pseudonyms, and other such information used for accounts, be sure to use unique and secure choices. Though you may be a huge Guns n’ Roses fan, having “Axl6969” as a password for everything probably isn’t a good idea. Trusted and verified password managers can make maintaining even a long list of unique and strong passwords fairy easy, and quality services allow users to keep their master password stored locally, and not on any central server.
Anonymity and Social Awareness
Where anonymity is concerned, be sure all records, memos, or other account information which might tie your real identity to accounts and usernames are encrypted. Phone numbers should not be given out publicly, and a secure virtual number service can be used to route public calls to your personal device. The more you secure sensitive information, the less likely it is a bad actor or social hacker will be able to connect the dots and gain access to your bitcoins.
Further, simply knowing when to keep quiet is a great tool for keeping bitcoins secure. As mentioned above, sharing a phone number publicly is not a good idea. Nor is exclaiming to the whole bar on karaoke night that you just made huge gains on Binance and are buying everyone a round. The more people know about your holdings, the more potential interest can be piqued in malicious actors who seek to gain as much info as possible to access accounts. This type of openness can even endanger personal safety, as one of the quickest ways to get to someone’s device for criminals may just be to steal it.
Cold storage refers to storing bitcoins and their private keys offline for greater security. With private keys never being exposed to the internet, the security levels of cold storage options can be significantly higher than other avenues. Examples include hardware wallets such as Trezor and Ledger, which allow funds to be spent without private keys leaving the device, paper wallets created offline, and even more extreme options like fireproof seed phrase capsules. Perhaps most James-Bond-like of all the choices is storing a wallet in something hopefully not cold, but undeniably secure: your own mind.
Known as a “brainwallet,” storing a bitcoin seed phrase in your brain is definitely secure, as long as you don’t forget it or get mixed up. Using a mnemonic device such as a colorful, vivid story, particularly sharp bitcoiners can retain a 12-word seed phrase entirely in their heads. As with all such measures though, there’s a trade off. If you’ve got to run from a bad actor or flee the country and can’t take anything with you, this option is undeniably appealing. But beware: once forgotten, no customer service group on the planet is going to be able to help you retrieve the lost mental bitcoins.
Leveraging DEXs, Noncustodial Options
While popular centralized exchanges like Coinbase, Binance and Kraken can make getting into bitcoin easy, and even storing it for day-to-day transactions, it is never advisable to leave bitcoins sitting around online when not trading. Exchanges have been hacked multiple times, are subject to governmental regulation and technical difficulties, and as such are not secure for stashing sats. Once such an exchange is shut down, hacked, or frozen, so is your money.
Better options include decentralized exchanges (DEXs) with open source code and where software and network data is stored locally. Also, such networks allow for greater anonymity with minimal to no registration requirements, and can afford features such as encrypted chats for P2P trade and blind escrow. The Bisq network is one example of such an exchange. Local.bitcoin.com, another, is a peer-to-peer bitcoin cash marketplace where users need only to enter an email to trade BCH privately for a variety of traditional assets.
Where crypto wallets are concerned, noncustodial options (wallets where the private keys are solely in the user’s possession and are not centrally stored) are always best, as a seed phrase can restore the wallet if an accident happens or a device is lost. When it comes to custodial wallets, however, once the provider is compromised, so is the user. Always be sure to verify any wallet you are using is noncustodial, as the whole point of bitcoin is for you — and nobody else — to be in control of your money.
The Less Trust, the Better
Trust between humans can be a beautiful thing, but when it comes to stashing bitcoins, the less trust, the better. Satoshi himself cited this as the central issue concerning traditional financial systems. The Bitcoin creator noted “the inherent weaknesses of the trust based model” in the Bitcoin whitepaper, and developed the cryptocurrency in answer to these challenges.
When hiding your bitcoins, then, it’s always paramount to remember the reason for the asset in the first place: so you don’t have to trust any central entity to keep your money safe. At the end of the day things like customer service laziness at AT&T, human forgetfulness, and having to trust certain tools or developers may always be an issue, but the closer we can get the trust level to zero, the better.