The report by venture capital firm Atomico also found that more than a third of all ICOs were based in the EU.
Archives for November 2017
The post ‘A Vehicle to Perpetrate Fraud’: Goldman CEO Blankfein Sours on Bitcoin appeared first on CryptoCoinsNews.
SophiaTX, the first open-source platform to integrate blockchain with enterprise applications such as SAP, has announced a forthcoming collaboration with the power division of General Electric (GE) to design and develop a blockchain solution for GE’s financial efficiency and operations.
A joint Letter of Intent (LOI) announced today by Jaroslav Kacina, CEO of Equidato Technologies, the company behind the SophiaTX blockchain, and Davide Mancini, Finance Executive, GE Power, confirms that the two teams plan to collaborate on a blockchain initiative leveraging the SophiaTX platform.
The initial focus of the collaboration is the design and development of innovative blockchain uses in financial operations, including connectivity to existing systems (such as ERP) and both digital and supply chain applications. The SophiaTX project will also incorporate capabilities to record data from IoT sensors, smart devices, and applications.
“Working with a company of this nature and scale allows new and exciting opportunities for our platform,” explains Jaroslav Kacina, CEO of SophiaTX and Equidato Technologies AG. “We believe that the move of blockchain technologies into corporate ecosystems such as this has the potential to transform the way the organizations collaborate and engage with partners and customers alike.”
SophiaTX Blockchain Reshaping The Way Businesses Operate
SophiaTX is open source and tailored to allow traditional enterprise applications to be extended to more robust, collaborative and decentralized blockchain-enabled business models.
“Integrating blockchain with SAP and other business systems allows businesses to deliver efficiencies, better collaborate along the value chain and even re-shape their business models,” explains Mr Kacina.
The SophiaTX team recently published a white paper and unveiled a working Proof of Concept demonstrating how businesses can use SophiaTX to transparently and reliably exchange information between their enterprise systems in real time.
The SophiaTX project is premised on an in-depth analysis of the technological capabilities of existing blockchains, to ensure a strategy and a platform which can truly add value and provide businesses with not only suitability, but genuinely superior functionality and features. The resulting platform, and its focus on adoption by real businesses, is one of the most innovative advancements of blockchain into the way in which the businesses and their customers interact and how ecosystems are continuously re-defined by digital technology.
SophiaTX Token Generation Event To Begin On 5th December 2017
The newly signed LOI with GE is the latest milestone for SophiaTX ahead of the company’s Token Generation Event (TGE) on December 5th 2017.
A number of customers, from various industries, are already in the pipeline. Recently, a separate Letter of Intent was signed with pharmaceutical supply chain specialist KITA Logistics, confirming the intention to develop a specific blockchain solution for the transport of pharmaceuticals and related products.
The SophiaTX platform is fueled by SPHTX (SophiaTX Token), which covers mining and transaction fees; allows access and subscription to the development platform. The platform’s Token Generation Event (TGE/ICO) will start on December 5 and last 10 days.
SophiaTX is a blockchain platform and marketplace for businesses of all sizes, and the first open source platform to primarily integrate blockchain technology with enterprise applications such as SAP, Oracle, and others. 74% of transaction revenue worldwide touches SAP systems, and SophiaTX provides a business-appropriate blockchain for B2B collaboration and communication.
GE (NYSE: GE) is the world’s Digital Industrial Company, transforming the industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the “GE Store,” through which each business shares and accesses the same technology, markets, structure, and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology, and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
About GE Power
GE Power is a world energy leader that provides technology, solutions, and services across the entire energy value chain from the point of generation to consumption. [It is] transforming the electricity industry by uniting all the resources and scale of the world’s first Digital Industrial company. [Its] customers operate in more than 150 countries, and together [it] powers more than a third of the world to illuminate cities, build economies and connect the world.
The post GE Power To Adopt Blockchain For Financial Operations appeared first on NEWSBTC.
The post Hedge Fund Platforms Reject Bitcoin Funds, Fear It’s a Fad appeared first on CryptoCoinsNews.
But central banks will likely continue discussing government-backed digital currency, said John Williams of the Federal Reserve Bank of San Francisco.
The National Insurance Crime Bureau (NICB) lists a number of scams and frauds that are rife in the automotive repair industry. These frauds transcend dangerous and life-threatening issues such as Airbag fraud, windshield glass fraud to bandit tow trucks that transport your vehicle to dodgy repair shops. There is no shortage of problems in the automotive universe, whether it is related to auto repair shops, auto-insurance or the supply-chain for parts and spares. One of the reasons that customers are suffering is the fragmented nature of the vehicle-related industries. All of the players involved operate in isolation and the customer and the industries themselves are subject to practices that have remained in place for years. An integrated system that acts as a link and binds the whole automotive experience in a chain has been missing, until now. The Vehicle Lifecycle Blockchain (VLB) claims to be the ‘ultimate blockchain fuel for the Vehicle Lifecycle Industry.’
What is Vehicle Lifecycle Blockchain (VLB)
Imagine an automotive ecosystem that encompasses everything from the time a vehicle rolls off the production line to the time it is junked in a yard. VLB aims to bring transparency and clarity to separate components in the automotive sector like manufacturers, repair shops, insurers, financiers and other operating participants. The blockchain will bind these participants and remove corrupt practices ensuring that customers get a fair deal. CarFix, which has a fully operational business in Russia and has serviced 250,000 customers with its reach of 500 repair shops are the force behind VLB, thus elevating it beyond just a ‘concept’. CarFix have earned the trust of major fleet owners like Uber and Fleetcor as well as a major car manufacturer. CarFix are also planning to extend their business model to the United States. The blockchain will ride on the shoulders of real-world customers and business owners, CarFix will be able to use their domain experience to carry out sales and marketing to help the system get a foothold till a point where it becomes self-propagating. CarFix’s business development team is working in this direction and is headed by the former head of supply at Uber. The blockchain will create a whole economic ecosphere which will be fueled by the VLB token.
VLB token as a fuel for automotive industry
The VLB token, which is based on Ethereum ERC-20 standard is a utility token. This token will be necessary for various participants and users of VLB to get access to products and services. Paying participants would be able to use the VLB token to record transactions in the VLB as an example car owners would be able to record car purchase transactions or can access VLB records for ownership data. They can also track car maintenance and repair records. Similarly car repair shops can use these tokens to record car repair. There is a whole lot of use cases for the VLB token that have been clearly elaborated in a whitepaper that has been issued by them, which run the entire gamut of the automotive industry.The premise of VLB token is that the information in Vehicle Lifecycle Blockchain would be written through VLB tokens and eventually the entire industry would require this token to conduct routine transactions. VLB would first be deployed within CarFix’s own network and then move beyond it.
Ongoing VLB Token ICO
VLB tokens are being sold through an initial coin offering (ICO), which is ongoing at the time of the writing of this article. The ICO’s last date is December 17, 2017 and there are plans to raise 300,000 ETH through the token sale. 200 million tokens are up for sale during the ICO. Any unsold tokens will be liquidated. The token sale would be used to raise funds for the development of the Vehicle Lifecycle Blockchain. Bonuses are available for investors during different phases of the ICO and till December 2, 2017 there is a bonus of 195 VLB on purchase of 1 ETH worth of tokens. This means that instead of getting 650 VLB for 1 ETH, an investor will get 845 VLB.
Instructions on how to participate in the ICO are available on the VLB website.
VLB token value driver for investor interest
As the blockchain system’s deployment picks up pace, the number of participants will increase. Each participant is obliged to spend at least 1 VLB token on every transaction they do on the system. According to the estimates made by CarFix, there are at least an average of 3.5 paying participants per each transaction and they project that demand for VLB tokens would rise by 16+ times in the next 5 years to 4.4 bln per year. This could potentially lead to appreciative forces on the token. The benefits of the blockchain itself are numerous and can potentially lead to revolutionising an entire sector with the emergence of a decentralised, trustless system in place. As an example insurance companies would be able to trust records and offer better claim management costs. They would also be able to offer cross-market services to other users of VLB. Manufacturers would be able to offer reliable maintenance records and make the warranty process more transparent and effective. Repair shops stand to gain as well as they get access to the blockchain and CarFix’s franchise network. VLB has the scope and the potential to bring a new age of trust in the automotive sector, where it has been eroded due to years of disconnect between the participants and malpractices that have disenchanted customers.
The post VLB can make your car repair more reliable using the blockchain appeared first on NEWSBTC.
The post Bitcoin Cash, Litecoin, Ethereum Price Down by 20% as Cryptocurrency Market Corrects appeared first on CryptoCoinsNews.
So we are closing in on the end of the European session and it is time to take a second look at the bitcoin price in an attempt to figure out how we can put together a strategy going forward to help us draw a profit from any volatility.
We have had a pretty up-and-down day in the markets and this means we are probably going to see a certain degree of choppiness as we head into the session tonight.
If this is the case, we are going to need to put some pretty tight stop losses in place so as to avoid getting chopped out to any substantial degree as and when things move. It doesn’t really alter our approach too much but it does make things a little bit more stringent from a risk management perspective than might otherwise be the case.
So, with this noted, let’s get some levels on paper.
As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to jump in and out of the markets according to the rules of our intraday strategy. It is a one-minute candlestick chart and it has our range overlaid in green.
As the chart shows, the range we are looking at for this evening comes in as defined by support to the downside at 9269 and resistance to the upside at 9528. If we see price breakthrough the former, we will enter into a short trade with an immediate downside target of 9200. Looking the other way, to the upside, if price closes above resistance, we will enter long towards a target of 9600.
A stop loss on the first position around 9285 and on the second somewhere in the region of 9505 will keep risk tight.
Charts courtesy of Trading View
The post Bitcoin Price Watch; Here’s What We’re Looking At Tonight appeared first on NEWSBTC.
European Central Bank board member Yves Mersch has said banks need to launch instant payments systems to counter the rise of cryptocurrencies.