The Big Debt Crisis: International Debt reached $184 Trillion, 22 from the US

We’ve all heard the phrase “too big to fail”. But what the Financial Crisis and events in 2008 showed us is that there is no such thing, especially when it comes to banks and Financial Institutions. The events from 2008 have also revealed the looming and rapidly-growing shadow of the global debt. Looking at data from the International Monetary Fund (IMF), the global debt has reached the honestly unthinkable level of $184 trillion.
Quick equations reveal that every single person alive today, currently “owes” roughly $85 000 to the Central Banks. The figure is two times larger than the global average income per-capita. The country that unsurprisingly holds the most debt is the United States. According to the US Debt Clock, the country has almost $22 trillion national debt. That would mean that the United States owes about 11.5% of the world’s total debt.
Global Debt Crisis
A multitude of factors have contributed to this incredible rise. The way the 2008 crisis was “handled”, didn’t help the country, but rather intensified the problem. While many of the mass media outlets will repeatedly state that the country has enjoyed a period of economic growth, the numbers point out to a frightening future.
Mortgages, credit and student loans and problems with the health care system have all been pivotal into the forming of this incredibly large debt bubble. Many experts believe that the situation will probably take a few decades to resolve and will have devastating consequences on the country’s long-term economic growth plans.
Last year the US stock market had one of the strongest rallies in history. The DOW shot up from $19,763 to around $26,000. This is more than a 26% increase for a period of 12 months. Rapid growth and strength was demonstrated by the market and this allowed both individual investors and corporations to start spending and acquiring all sorts of loans. Consumer confidence naturally inspires more spending and this is completely normal in a bull market.
Homes were among the most purchased by individuals who previously could not afford the high-interest mortgage loans. This of course resulted in the credit card debt in the US going over $1 trillion for the first time in history. Another huge factor for the massive debt are the famous student loans. Just last month alone, they have reached a new record surpassing $1.4 trillion.
A very important issue about the student loans is that they are guaranteed by the US Department of Education. This means that if a nation-wide recession resulting in mass youth unemployment occurs, the result will be even more troublesome for the US government. Relations with China are also escalating and the trade-war is anything but helpful towards the US national debt. This November saw a rapid decline in DOW and S&P 500’s performance resulting in a price decrease between 10 and 30%.
Most tech companies also took a 15%-40% decrease for the last 3 months. With the global debt crisis expanding at an alarming rate, the market is also becoming more unstable. Investors are starting to panic and a little trigger might become the reason for a chain-reaction and a Financial and Debt Crisis that will be talked for decades to come. The Crypto markets can become a great hedging tool for a lot of bad things in a recession, so i highly recommend to watch the Crypto market for investment opportunities!
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The post The Big Debt Crisis: International Debt reached $184 Trillion, 22 from the US appeared first on CoinStaker | Bitcoin News.

Cardano Price Analysis: ADA/USD Trends of January 04–10, 2019

Cardano Price Analysis: ADA/USD Trends of January 04–10, 2019
Key Highlights:

Side-ways movement confirmed in the Cardano market;
traders should wait for a breakout;
ADA price may continue its uptrend on 4-Hour chart.

ADA/USD Price Long-term Trend: Ranging
Supply Zones: $0.046, $0.054, $0.066
Demand Zones: $0.035, $0.026, $0.019On the daily chart, ADA is on the ranging trend. At the moment, the coin could not trade higher nor lower indicating the strength of buyer and seller are at equilibrium. Cardano price is range-bound within $0.046 supply zone and $0.035 demand zone. The uptrend movement was interrupted with the Doji candle formation on December 24 followed by a big bearish candle indicating the bearish pressure which extended toward the $0.035 demand zone but unable to penetrate it. This scenario led to a sideways movement.
Now, the coin is flipping over and in-between the two EMAs within the range which indicate that side-ways movement is ongoing. The MACD with its histogram is faintly above the zero levels and the signal lines remain flat on the zero levels implies that the ranging movement may continue for a moment. Only a radical fundamental event can forcefully bring about a significant rally in the market.
For a bullish bias to form there is a need for Cardano price to go above the supply zone at $0.046. On the downside, the demand zone at $0.035 stands to be broken, and that will require a strong selling pressure. All this will result in a directional bias.
ADA/USD Price Medium-term Trend: Bullish
Cardano is bullish within the channel on the medium-term outlook. Recently, the cryptocurrency tried to break downwards but more buyers came in at the demand zone of $0.035, and price pushed further northwards by broken upside the two dynamic resistance level (21-day and 50-day EMA).
In the 4-hour chart, Cardano price is above the 21-day EMA and 50-day EMA, which connotes the possibility of an upwards trend continuation should the supply zone of $0.046 is broken. Traders should wait for the breakout before taking a long position.
On the 4-hour chart, the MACD indicator is parallel at the zero levels and the signal lines above zero level twisted to each other bending downwards connotes sell signal.
Cardano Price Analysis: ADA/USD Trends of January 04–10, 2019

Major Exchanges Seem to be Not Ready for ‘Proof of Keys’ Movement

Major Exchanges Seem to be Not Ready for ‘Proof of Keys’ Movement
The ‘Proof of Keys’ initiative was started by Trace Meyer just weeks ago and was intended as an intentional cryptocurrency exchange run. Specifically, Mayer tried to encourage people to withdraw all their Bitcoin and cryptocurrencies from third-party cryptocurrency exchanges on January 3rd.
The guiding principle was that the exchanges often hold their customers’ crypto assets in the name of storing them. However, the customers are not able to access the assets stored on the exchanges at any point. The event emphasized the need for crypto holders to have control over their private keys and to possess them at will, even if the asset lies with the exchanges.
Mayer wrote:
“By demanding and taking possession of their assets, individuals will learn real fast with blockchain proof whether they are part of the elite HODLers or not. Proof of Keys is the annual HODLer initiation.”
However, according to Trace Mayer and the Proof of Keys’ event’s official page, in addition to HitBTC, some other exchanges also had issues leading up to or on the day of the event.
PurseIO halted withdrawals without any reasonable explanation.

@TraceMayer It looks like #ProofOfKeys has impacted @PurseIO somehow. They have halted withdrawals without reasonable explanation. 🔑
— Senior Crypto (@crypto_senior) January 3, 2019

Even though RobinHood promised to support Proof of Keys day, it seems they didn’t. They twitted:

Failed Proof of Keys 2019
Promised and Did Not Deliver.
“Coin Withdrawals
At this time we don’t support coin withdrawals, though we plan to do so in the future.”
— Ben Westgate 🔑 (@ansalhar) January 4, 2019

Poloniex also allegedly had been whitelisting its users.

I've had problems with @Poloniex the last four days making me jump through hoops trying to get transfer. Everyday is a new hoop and a day delay.I've never had this problem before with them in the past.
— Placerville (@megacity_4) January 3, 2019

One user said:
“The last four days Poloniex is making me jump through hoops trying to get transfer. Everyday is a new hoop and a day delay. I’ve never had this problem before with them in the past.”
Mayer Accusing HitBTC to Freeze Account Withdrawals
HitBTC has failed to comment about ongoing withdrawal issues within it, but it seems that they could have had solvency issues. Just three days ago, Mayer accused cryptocurrency exchange HitBTC in freezing account withdrawals on the threshold of the Proof of Keys event.
He was subsequently joined by others in his suspicion, including John McAfee, wallet manufacturer Bitfi and entrepreneur Tuur Demeester.
HitBTC has subsequently rejected the allegations. They denied any link between account freezes and the ongoing event.
Not all of the exchanges listed in the “failures” section of the official Proof of Keys site are currently having withdrawal issues. Coinbase pointed out that the issue reported back at the end of December was fixed not long after it was initially reported.
Bitfinex also resolved their issues saying:

We are aware of some issues on our platform and are working quickly to resolve. Please be assured all funds are safe. We appreciate your patience.
— Bitfinex (@bitfinex) January 3, 2019

One thing is for sure: several exchanges are probably falsifying their trading volume for advertising purposes. One less-notable figure in the crypto community alleges that nearly all exchanges have to be lying about their volume due to the actual nature and size of the market.
If exchanges are willing to somewhat nakedly lie about their trading volume, is it possible they’re also lying about having funds securely on hand?
History shows that it’s far from impossible. The first major incident of bubble popping and bloodshed in cryptocurrency was Mt. Gox, which became insolvent and tried to cover it for many moons before eventually getting caught. Founder Mark Karpeles may be looking at a ten-year prison sentence as a result.
Solvency as an Important Issue
To further cement his point for the need of a “proof of key” celebration, Mayer pointed out that it is essential for users to show their independence from time to time. He stated that this is quite important especially for new users who are still very ignorant about the rudiments of investing in cryptocurrency.
Also, increase in crypto exchange hacks has left users feeling very unsure about how secured their funds are on exchange platforms. The Proof of Keys event seeks to test the blockchain network consensus and to prove the validity of various asset chains through withdrawing the assets in theory. Mayer appealed to the overall crypto community to utilize this event to identify crypto exchanges and other third parties that can provide proof of the funds in their custody, adding that it “is a fight over your monetary sovereignty.”
Mayer was citing Satoshi Nakamoto saying:
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.”
However, we need to be aware that solvency is a seriously important issue in a financial system which is designed such that you must control the private keys in order to truly control the money.
The Proof of Keys event was designed to remind the trading community that while decentralized exchanges are emerging, the majority of the volume still takes place on exchanges which have full control of the money traded. Bitcoin itself is designed to remove the need for trust in financial transactions. Perhaps the only hope can be that the event grows in popularity in years to come and that exchanges which do not “fail” it in any way are lauded.
At the time of writing, Bitcoin was back in the red, down 1.43% to $3,831.4, with moves through yesterday trading seeing Bitcoin fall from a start of a day morning high $3,924.3 to a morning low $3,890.0 before moving back through to $3,900 levels.
While the day’s major support and resistance levels were left untested early on, direction in the day ahead will be hinged on the outcome to the Proof of Keys event, any negative news likely to weigh, though it may not be as bad as one would assume, with a large number of Bitcoin holders reportedly unaware of today’s event.
Major Exchanges Seem to be Not Ready for ‘Proof of Keys’ Movement

BitTorrent Launches Its Own Tron-Based Cryptocurrency

BitTorrent Launches Its Own Tron-Based Cryptocurrency
The recently ended 2018 was an important year for peer-to-peer torrent client BitTorrent. As CoinSpeaker has reported earlier, in summer it was acquired by a blockchain-focused startup Tron owned by Justin Sun.
Six months later Rogelio Choy, who had been the company’s CEO for quite a long time, decided to leave BitTorrent. And it seems that quite soon a new, blockchain-oriented chapter in the company’s history will begin.
BitTorrent Token
As it has become known, BitTorrent, which was a pioneer in offering peer-to-peer technology for sharing files on the internet, is going to launch its own cryptocurrency. The idea to issue its native token is the first BitTorrent’s attempt to tokenize its content sharing ecosystem.
The new BitTorrent Token (BTT) will be issued in the framework of Project Atlas and is said to run on the Tron protocol and to have native TRC-10 compatibility, it means that the tokens to be issued by the Singapore-based  BitTorrent Foundation will meet a technical token standard supported by the Tron blockchain.
According to the information revealed by the company, this new token will be used by BitTorrent’s 100-million client base to pay for higher network speed and faster downloads.
But the launch of BTT is not just the company’s strategy to make their clients spend more money. Using BTT to ensure speedy downloads will also help to make speeds for other BitTorrent faster.
On BitTorrent media is downloaded via using shared resources from other clients in the network. So, while one user is downloading files, he is automatically uploading media for some other people. But this activity is absolutely altruistic.
Some people stop their BitTorrent clients as soon as they get their media downloaded as there are no rewards for them to keep their files available for other downloaders. But with BTT the company will offer blockchain-based rewards for provision media and infrastructural services.
How BTT Will be Distributed
As it has been reported, BTT will be available for non-U.S. users on Binance Launchpad, which is the token sale platform operated by a well-known cryptocurrency exchange Binance.
Changpeng Zhao, Binance CEO and Founder, said:
“BitTorrent is a decentralized project by nature, with a large user base, that is now adding a new token economy to their use case. Through Launchpad, BitTorrent will have greater access to resources across the Binance ecosystem. This will be a case study for existing projects.”
Moreover, BTT will be also sent to some selected addresses via airdrops later in January.
BitTorrent’s Vision
Nevertheless, the launch of its native token is only the beginning. According to Justin Sun, “BitTorrent token is the first in a series of steps to support a decentralized internet.”
Speaking about their new initiative, Justin Sun, founder of Tron and CEO of BitTorrent, stated:
“In one giant leap, we can introduce blockchain to hundreds of millions of users around the world and empower a new generation of content creators with the tools to distribute their content directly to others on the web.”
It is believed that Tron and BitTorrent will disclose more details about BitTorrent token in the framework of niTROn Summit that will take place on January 17–18 in San Francisco.
BitTorrent Launches Its Own Tron-Based Cryptocurrency

Circle in 2018: $24 Billion OTC Trading, Strategic Acquisitions and General Growth

Circle in 2018: $24 Billion OTC Trading, Strategic Acquisitions and General Growth
It’s not a secret that 2018 was a rather controversial and challenging year for the cryptocurrency world. Nevertheless, some companies can be really proud of their year results. And cryptocurrency finance firm Circle is definitely one of them.
In its official blog post, the company has shared its 2018 accomplishments.
General Growth in 2018
According to the statement, Circle has managed to show excellent growth rates. At the current moment, it works with 8 million customers living in more than 195 countries. In 2018, the company conducted over 200 million transactions worth roughly $75 billion.
Moreover, Circle started 2018 with two products and expanded to five by the end of December. Circle released its crypto investment app ‘Circle Invest’, acquired a digital token exchange Poloniex, issued its first stablecoin USDC, purchased a crowdfunding platform called SeedInvest – and it’s still not the full list of the company’s achievements for 2018.
OTC Trading
According to Circle, its OTC trading business, Circle Trade, is also expanding despite the difficulties that the entire industry faced in 2018.
Circle Trade managed to welcome a record number of institutional customers, expand its services across the US, Asia, and Europe as well as to introduce significant technical improvements.
As it has been revealed, in the previous year, Circle Trade executed over 10,000 OTC trades with 600 different counterparties. In total, the transactions across 36 digital assets generated a notional volume of $24 billion.
OTC trading provides investors with an opportunity to conduct trades directly with one another without a necessity to rely on intermediaries such as crypto exchanges. In general, OTC trading services in digital assets represent a special interest for institutional investors who are turning to Circle Trade’s services more and more often.
Acquisition of Poloniex
Poloniex acquisition which happened in early 2018 is one of the most important events for Circle. Circle took a decision to acquire one of the earliest crypto exchanges with a view to expand its activities and offer additional support for cryptocurrencies as well as to provide its customers with enhanced services.
In 2018, Poloniex experienced numerous upgrades including technical and regulatory changes. Moreover, a range of new digital assets was added to the platform. This list included EOS, BAT, SNT, KNC, LOOM, FOAM, MANA, BNT, and USDC. At the same time, 20 coins were excluded from Poloniex.
Acquisition of SeedInvest
Another strategic acquisition made by Circle in 2018 is purchasing SeedInvest. One of the reasons why Circle took a decision to acquire this crowdfunding platform is its desire to win a federal banking license.
The end goal of this initiative is to register with the SEC and to give traders a possibility to buy and sell tokens as securities for the first time which could become an important accomplishment for the entire crypto community.
2018 was a very productive year for Circle but the company believes that 2019 will bring even more results.
Circle in 2018: $24 Billion OTC Trading, Strategic Acquisitions and General Growth

Digital Retail Giant Overstock Set to Use Bitcoin for Tax Payments in 2019 Already

Digital Retail Giant Overstock Set to Use Bitcoin for Tax Payments in 2019 Already
The new year has begun just a couple of days ago but has already brought some surprising news for crypto enthusiasts. On Thursday, the US online retailer Overstock announced it would pay part of its business taxes in the state of Ohio with Bitcoin (BTC). The move is a way to promote cryptocurrency use.
Overstock CEO and founder Patrick Byrne said:
“We have long thought that thoughtful governmental adoption of emerging technologies such as cryptocurrencies (when accompanied by non-restrictive legislation over these technologies) is the best way to ensure the U.S. does not lose our place at the forefront of the ever-advancing global economy.”
He further added:
“We are proud to partner with forward-thinking governments and officials like Ohio and Treasurer Mandel to help usher in an era of trust through technology for our nation’s essential financial systems.”
According to the announcement, Overstock will use bitcoin to cover its Ohio commercial activity taxes in February 2019, using the recently launched cryptocurrency taxpayer platform,
Ohio is the first US state to accept Bitcoin as a payment method for taxes. In November, twenty-three kinds of business taxes became available for payment in crypto, including utility tax, sales tax, and employee withholdings. As was reported by Coinspeaker, to handle the payment in crypto and conversion to dollars for the tax office, Atlanta-based crypto payment processor BitPay is used.
Ohio Treasurer Josh Mandel said:
“We applaud Overstock for becoming the first national brand in America to register to pay taxes via cryptocurrency. Their embrace of blockchain technology was ahead of its time and we’re proud to have them join”.
According to Mandel, many taxpayers choose to use credit cards, which obliges them to pay a 2.5% service fee, but Bitcoin payments will incur a fee of only 1%—and none at all for early filers like Overstock.
Overstock has been accepting Bitcoin for payment since 2014, becoming the first major retailer to allow customers to pay for their online purchases using cryptocurrencies. In 2017, the company also allowed to pay in other types of digital currencies. The company’s subsidiary, Medici Ventures, acts as an investment wing in blockchain startups. In January, Medici plans to launch a security token marketplace. The tZERO token is set to become the primary traded asset on this platform.
Ohio to Go Beyond Bitcoin
Trying to find the most appropriate use cases that Bitcoin can be applied to, Eddie Hughes, a member of the U.K. Parliament for the Walsall North constituency, suggested to give UK residents an opportunity to pay their local taxes and bills using Bitcoin, believing that such an initiative would become a serious step towards mass crypto adoption in the country. However, it is not coming together yet.
As for Ohio, the state may also expand the program to other types of taxes and to individual tax filers. According to Josh Mandel, OhioCrypto is expected to offer the option to pay taxes using a range of cryptocurrencies other than Bitcoin starting from 2020.
Digital Retail Giant Overstock Set to Use Bitcoin for Tax Payments in 2019 Already

DX.Exchange to Let Its Clients Purchase Tokens Backed by Real Stocks of Major Firms

DX.Exchange to Let Its Clients Purchase Tokens Backed by Real Stocks of Major Firms
Ongoing tokenization of real economic sectors hits a new milestone as an Estonian-based startup announced the launch of the first crypto-platform that allows direct purchase of NASDAQ-listed stocks in a form of tokens.
For investors familiar with a basic concept of token economy, it was a long-awaited upgrade because previously tokens have been already discussed as an innovative solution for real estate investments and a multi-dollar stock market.
Due to an excessive security level and transparency related to blockchain tokens, major players at the financial arena such as NASDAQ started to consider alternative ways to replace traditional stock trading.
NASDAQ and DX.Exchange
In recent posts, Coinspeakes has already approached a NASDAQ-powered exchange conceived to serve as a bridge between the world of real stock companies and vividly evolving cryptocurrency market.
DX.Exchange is a crypto-exchange located in Estonia, which is officially supported by the world’s second-largest stock trading platform NASDAQ. The main function of DX.Exchange is tokenization of real stocks listed at NASDAQ, thus later the exchange will be able to purchase the tokens of major tech companies including Google and Apple for the vast swaths of crypto-assets.
Notable that by the time a partnership announcement reached the wide audience, DX.Exchange had already climbed a threshold of 500K pre-signed users. With the opening of crypto-exchange, the pillar of the financial industry, NASDAQ aims to cover a gap rapidly rolling out between powerful crypto-moneybags and the old way investments.
Earn Dividends on Real Stock Tokens
Until today a precise date of the exchange opening was unclear, yet it became known that DX.Exhange is going to start operating on January, 7. For the numerous pre-registered users it means that they will meet tokenized stocks of renowned companies in less than 3 days.
According to the announcement made by the DX.Exchange spokesman, the exchange abides by NASDAQ’s trading rules and matching engine that primarily signals advanced quality of services offered at DX.Exchange.  The exchange will closely watch the full users’ compliance with the established trading policy seeking to prevent malicious activity and market manipulation.
Speaking of the tokens purchase itself it is worth mentioning that DX.Exchange customers will not obtain ownership of shares directly, but rather, will purchase tokens, which represent shares in a company. However, just like any other shareholder, a holder of tokens supplied by DX.Exchange will be rewarded with the same cash dividends that the stocks worth. This happens because of the unique nature of tokens available at DX.Exchange — they are pegged to real-world stocks in 1:1 ration.
To make such a great deal true, DX.Exchange teamed up with MPS Marketplace Securities, Ltd that will be responsible for the consistent tokens supply. Based on customer demand, MPS will acquire real-world stocks and generate ERC-20 tokens to represent every one of them.
The actual shares themselves would be stored in a segregated account separate from any of MPS’ internal funds or usage. This is intended to act as a safeguard against the company having issues or filing for bankruptcy, he explained.
As an additional security measure comes the direct supervision of the Cyprus Securities and Exchange Commission over MPS, while DX.Exchange will be organized in accordance with European Union regulations and authorities.
Celebrating the launch, MPS will reportedly purchase shares in AlphaBet, Apple,, Facebook, Microsoft Corporation, Tesla, Netflix, Baidu, Intel Corporation and Nvidia.
DX.Exchange to Let Its Clients Purchase Tokens Backed by Real Stocks of Major Firms

Unibright & Deutsche Bahn Vertrieb’s Collaboration for Tokenization of Services

Deutsche Bahn AG, a Germany-based, biggest railway operator in Europe, is all set to tokenize its ecosystem with the help of Unibright’s blockchain solution. The project includes working on the workshop content for an internal entrepreneurship program, through which the Deutsche Bahn (DB)’s ecosystem will be tokenized via blockchain technology.
The Background
DB is the biggest railways operator in Europe, earning the highest revenue in the industry worldwide during 2015. It has a grand customer base of around 2 billion every year. The company offers tickets, both standard and personalized, via website, app and ticket machine.  Inclusive services like transportation, accommodation, and catering are also provided.
Akram Sioud, the BI developer and blockchain professional at DB, has convinced the company to take Unibright on board for developing blockchain based solution to put together all connected services. The three experts at Unibright are currently focused on a 4-week DB internal workshop to initiate the project, gather information and discuss implementation matters with the company’s selected experts.
Structural & Technical DB Ecosystem
In terms of structure, the Deutsche Bahn ecosystem already has the company and all its connected service providers on board. At the same time, the ecosystem is technically connected to datastreams of multiple participant companies empowered by APIs at one or both ends of the connection. These connections enable integration of the services onto a common platform as a part of the ecosystem.
Marten Jung, CEO of Unibright, states:
“One goal of the workshop concept was to define better, which players can be part of an ecosystem around Deutsche Bahn and to make proposals on how this ecosystem can be built. The result should feel natural to the customer and provide tangible advantage.”
Ecosystem Tokenization
Through tokenization, the participating values and assets will be converted into transferrable, partial, controllable and restricted-in-use tokens, which will act like vouchers or value representation with specific sense in DB ecosystem.
Daniel Benkenstein, CIO of Unibright, says:
“One goal of the workshop concept was to tokenize values and assets that can be part of that future ecosystem, and also to check on possible transformations of existing value-based systems like “BahnBonus-Punkte” (a reward program where a customer can collect points for each ticket purchase)”.
Choosing blockchain as the technology, Stefan Schmidt, CTO of Unibright, adds:
“The technical part of integrating existing players into a newly build ecosystem is not trivial. Therefore, one goal of the workshop concept was to show, which parts of the solution can live in a blockchain and how can they be integrated with the “off-chain world”, a challenge that is explicitly targeted by the Unibright Framework”
The Ecosystem’s Basic Workflow
The concept is to connect all parts of the journey via tokens, including travel miles, services, hotel bookings, services, transportation and other assets. The purchase assets can be transferred or sold.
Roles and Processes

The issuing office defines new tokens to become part of the ecosystem, e.g. when a new provider is included
The provider can offer his tokens for sale on a dedicated platform
A collector transfers tokens from users to providers; either manually or automatically.
The consumer manages his wallet to hold and monitor the different assets, represented by tokens.

On these roles the following processes are defined.

Selling and buying tokens
Collecting tokens
Transferring tokens
Issuing new tokens for new assets of new providers

The Utilization of Tokenized Assets
Different suppliers can define new assets and bring them into the ecosystem. These tokens can be (independently) redeemed for their initial purpose and be bought later to refill the personal balance.

A customer can gain big through option that connects and converts different assets from the ecosystem.

Proof of Concept Integration
The DB ecosystem consists of four aspects for PoS implementation.

A token and asset model based on NEM features, including a basic REST-API,
Views for the customer
Views for the responsible designer of the ecosystem, using the Unibright Workflow Designer.
Views for the responsible manager of the ecosystem, using the Unibright Explorer.

The NEM features
The given solution is built on NEM Protocol, offering different smart assets and operations based on NEM features.

For each asset, a specific token is created, representing the balance of this asset
For each token, a reverse token is created, modeling the claim to this asset as soon as the service is provided.
All tokens initially are in wallets that are owned by DB.
Every purchased travel leads to an account (wallet), assigned to a specific user, holding the purchased and claimed tokens.

The API-Supported operations are:

Booking a journey
Creating a wallet and purchasing tokens
Transferring tokens

The Ecosystem Views

Unibright Workflow Designer

With the Unibright Framework, a blockchain based process is designed visually, and all blockchain related objects are generated automatically. Unibright made proposals for managing existing and new tokens within the Unibright Workflow Designer, using the “Ecosystem Tokenization Template”.

Unibright Explorer

With the Unibright Explorer, a business specialist can monitor the ongoing process without needing to know any blockchain specific know-how.
In Future
The teams are working to determine the potential of DB’s tokenized ecosystem that will also take into consideration the development of open and integrated solutions, addition of new partners, generating automated benefits and offers for the users and ensuring data privacy.
To know more about Unibright and this unique project it has started working on, please visit
The post Unibright & Deutsche Bahn Vertrieb’s Collaboration for Tokenization of Services appeared first on Live Bitcoin News.

Bitmex Celebrates 10th Anniversary of Bitcoin on the Front Page of The Times Newspaper

Bitmex Celebrates 10th Anniversary of Bitcoin on the Front Page of The Times Newspaper
Bitcoin is exactly 10 years today. Back in October 2018, there was the decade anniversary of BTC. However, that was the anniversary for the original Whitepaper published by Satoshi Nakamoto. Today is exactly 10 years since the first Bitcoin came into existence. Hence, it is the decade-old anniversary of the mining of the cryptocurrency genesis block.
Bitmex has published an advertisement on the front page of January 3rd, 2019 edition of The Times. In that advertisement, the company thanks Satoshi for Bitcoin. They also reflect on how far the largest cryptocurrency has come in the past ten years. Bitmex has also grown leaps and bounds.
We have highlighted earlier that Bitmex is creating its own Bitcoin software client strengthening its top rankings in the crypto world. This is an example of the many developments that the company has achieved since its inception. The largest crypto was developed to shield the world from future financial crises.
The Bitcoin Genesis Block
The greatest global financial crisis of 2008 is a primary motivating factor in Bitcoin development. The genesis block is quite important since it was the first block in the blockchain technology. It powers all functions of bitcoins and other cryptocurrencies. It is unique in the chain since it is the only block in the digital infrastructure not linked to a previous block.
The address that got the first mining reward has received a further 16 over time. The first mining reward was 50 bitcoins. In most Satoshi-codebase cryptocurrencies, including bitcoin, the founder cannot mine the first mining reward. The code was originally written to protect the first account. Thus, even Satoshi cannot spend these coins.
On November 13, 2008, while discussing his Bitcoin Whitepaper, Satoshi said:
“It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though,”
He believes that the digital currency is the answer to the stumbles of fiat money.
Surprisingly, But Bitcoin Thrived in the Bear Market of 2018
Laymen think that Bitcoin had a terrible 2018. However, the knowledgeable individuals like Jameson Lopp and Armin Van Bitcoin think otherwise. Although the crypto lost 84.5% of its peak value several weeks back, its fundamental performance and key data points are recorded here.
In 2018, critics proclaimed Bitcoin dead at least 90 times. That figure is down from 2017’s 125 times but still considerably up compared to the 28 reported cases in 2016. Erik Finman, the first public teenage Bitcoin millionaire worldwide also issued an obituary. He thinks that bitcoin will wither after at most two more bull runs.
The Reddit’s in-house Bitcoin community grew by 61% translating to 380,000 throughout 2018. Although that figure is down from 2017’s 200% growth, it is still impressive. In early-December, this forum surpassed one million subscribers.
BTC market dominance hovers around 52% currently, rising from the previous 32.5% levels of 2017. Also, its SegWit protocol adoption rose from 10% to 40%. Initially, SegWit was deemed a short-term scaling solution helping reduce transaction sizes. The increased adoption rate means that the solution is applicable for the long term.
Hashrate doubled throughout 2018. Despite the ‘death spiral’ bitcoin rumors arising from capitulating miners, the network doubled from 19 to 38 exahashes per second. It can take 270 days for any hacker with 100% of the current hashrates to rewrite the whole blockchain.
The Lightning Network Capacity surged from zero to 500BTC. Throughout the year, the second-layer scaling solution went live. It supports near-instant, low-cost, and secure transactions. Currently, this scaling solution holds up to 500BTC at maximum capacity. Recently, CryptoGraffiti sold a micro-painting of a Black Swan for 0.000000001 BTC. That was seen as a strike at the centralized financial system while showcasing Bitcoin’s potential.
The number if BATMs (Bitcoin-centric automated teller machines) doubled to 4,000 in 2018. Thus, consumers can now enjoy another channel of cash-in and cash-out of the cryptosphere. The growth in BATMs last year accorting to Lopp:
“Continues a three-year trend of 100% year-over-year growth”
A recent Twitter poll indicated that not more than 20% of people have used the infrastructure. But, most consumers lauded BATMs as a reliable strategy to catalyze global adoption. Hence, it is a bullish statistic that proves Bitcoin did not crumble although the prices fell.
2018 was an excellent year also since $410 billion was transacted in BTC translating to almost $13,000 per second. Even though the trading volumes dropped, some countries enjoyed an explosion. India, Colombia, Venezuela, and Peru saw volumes move parabolically on LocalBitcoins. The statistic proves that bitcoin may become a dependable store of value to protect capital in currency crises.
Bitcoin has suffered from stern criticism since its inception. Even in 2018 alone, critics ‘killed’ the cryptocurrency at least 90 times as its price continued to plummet. Its 10th anniversary will not do the coin any good with mainstream media expected to continue their criticism. The digital currency space remains a mystery to many resulting in the never-ending criticism.
In the past, financial institutions were originally hostile to the cryptocurrencies. However, they have started to come into terms with the new space in recent years.
Crypto Vendors
Crypto-vendors worldwide will most likely mark the day by selling memorabilia. Hardware wallets, watches, framed print, and t-shirts are some of the souvenirs that vendors will sell on Bitcoin’s 10th anniversary. These souvenirs will sell for various prices. Crypto fanatics will get something worthwhile to commemorate the day irrespective of their budget.
It is not mandatory to celebrate the coin’s anniversary. However, 10 years is a milestone that is worth commemoration.
Bitmex Celebrates 10th Anniversary of Bitcoin on the Front Page of The Times Newspaper

Blockchain UX and why Urgent Improvements are Required

The current state of the blockchain UX simply not good. No matter how much we look at the most used crypto services, we have to conclude that we are not in love with them. Some of them can barely classify as being OK, the rest are simply terrible.
This is the simple truth which is not focused on the cosmetic allure of the products, which also looks from the dial-up era. This truth is referring to how the products work, how the onboarding was presented and most importantly, how they feel to use.
The prolonged bear market however, hasn’t stopped the industry from growing. This begs the question if we’ve reached a state where the market needs something revolutionary in order to grow significantly and attract new types of users and geographies which have not yet been covered.
Everyone involved in the industry wants to see the bear market gone. This however, is probably unlikely to happen until the industry takes into priority the delivering of a better user experience.
Blockchain UX shouldn’t have gotten to this level
The state of the blockchain UX is quietly frankly terrible after a decade. That’s mainly because this industry has been mostly built by engineers and in some cases, freelance executives. This mostly explains why the priority hasn’t been on UX. The first few years were mostly focused on protocols, infrastructure and idealistic approach. Needless to say, this was successful as it resulted in millions of users adopting the first cryptocurrencies and a collective market cap of hundreds of millions of dollars.
The industry has managed to attract a certain type of profile and builders. Mostly brilliant engineers and thinkers who mostly dream and unfortunately sometimes greed. Security and regulation have also held the industry back. It’s incredibly hard to get a product to be easy to use and understand, while at the same time, incredibly secure.
When we’re dealing with financial assets, the priority should always fall on security. That being said, most products are incredibly complex and annoying to deal with. It’s no surprise that builders find that a challenge. Users are also in most cases, tough judges. No one wants to deal with complexities, they want something fast, secure and easy.
With the huge availability of apps for daily use, most people are used to products and apps which work fast and are extremely simple to use. Next year shows a lot of promise when it comes to improving certain areas that will definitely help with UX.
In 2019, technologies which are focused on improving fast payments and settlements will be on the rise. There are no slow technologies in the future and this means faster chains, faster side chains and faster consensus. Builders will be able to focus more on UX layers instead of fixing things, which most users don’t know exist.
Many more specialists will work on the Blockchain UX starting 2019
The industry is also looking that product managers and designers, which are some of the rarest skill sets in the industry. They bring both rationality and elegance. The industry at the moment feels like a cosmic Lego set with instructions written in ancient Egyptian. Developers build and users have to figure out everything. 2019 will start to be abstracted to builders and users so they won’t have to understand how everything works in terms of security and safety.
Developers will additionally focus more on mobile or mobile first app stores which have better set of rules and protocols. The industry itself needs to start believing in its own products more. This year’s DevCon is the largest event for DApps and smart contracts. Ironically enough tickets were paid in fiat and were printed on a plastic badge.
There is no doubt that the Ethereum Foundation has the resources and developers to think of an alternative, but they are simply refusing to use their own products. This points that there is a huge culture shift required for how many organizations think about their own services. The industry will simply not grow until the UX has been set to a priority right below security.
Companies know that now is the time to make that happen and a few will lead by example, thanks to the new talent and organizations with pragmatic use cases. This is because a great user experience isn’t simply about cosmetics, it’s about providing meaning to people who are trying to solve a problem.
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