Blockchain Life 2017 organizer: JetMedia ad agency, CPA Adwad.ru along with Awad Group (creator of one of the world's largest conferences on internet advertising and affiliate marketing CPA Life).
Even though most people don’t even know what they are, Bitcoins increased in value from about $570 to more than $4,300 — an astounding 750% — in just the last year. Because of this huge return, more people, hoping to make a fast fortune, are becoming interested in possibly owning some Bitcoins. That would be very risky.
Blockchain Life 2017 – the largest conference about Bitcoin, the blockchain, cryptocurrency, and mining. https://casinonews.today/2017/07/blockchain-life-2017-largest-conference-bitcoin-blockchain-cryptocurrency-mining/
Nowdays the financial market is experiencing a peak activity in the area of the cryptocurrency (Bitcoin etc.) and technology of blockchain. The first persons of the financial industry and state sphere are showing interest in digital currencies and technology of blockchain, which is already called the new Internet. Also, entrepreneurs who earn big money on e-currency trading have the huge interest in Bitcoin and other cryptocurrencies.
Blockchain proliferation
You have to be a blockhead if you didn’t pay attention to blockchain in 2016, doubly so if you continue to ignore it this year. Blockchains are proliferating like mad, with proponents of each new schema proclaiming theirs presents the best path to follow.
I understand why you may have ignored it, because the topic can seem inscrutable. Still, it’s time for all eyes to be open and focused at least some of the time on blockchain, which may revolutionize the geopolitical nature of the world forever, disrupt, and upend massive swaths of the world’s economic sectors, usher in a golden new era business and government transparency, or do absolutely nothing.
In 30 years of covering technology, I’ve not seen a technology so fraught with mystery and dichotomized opinions. The mystery comes from blockchain’s roots in the Bitcoin cryptocurrency, something that continues to defy conventional analysis. Is it really a key part of the future of finance? Can it be corralled by governments? Will it continue to spawn other cryptocurrencies? Sharp disagreements flow from these.
Blockchain today can be compared to a state of fintech 4 years ago – it is too early to invest a lot today, and it will be too expensive to invest in 1-2 years perspective. Banks have skipped the wave of fintech – they are not the most active and influential players in the industry (26% max. of new investments provided by banks). Financial institutions can either skip the new wave of blockchain or discover it with us. Also most of fintech/blockchain startups are not open to attract direct investments from banks as it might bring them a conflict of interests with other banks-as- partners.
Your Passport on Blockchain
iNation is designed to bring blockchain recording to the end user and small businesses. This might sound mundane, but it really isn't. With it, users will be able to keep a perfect copy of their passport or deed or will or other legal document in a cryptographically secure place, and be able to access it at anytime using a mobile app.
Blockchain Agnostic
One currency, two smart contracts
Part of the confusion with Steemit lies in the different ways that the currency is presented to users.
At the root is the currency Steem, which is the typical transferrable, fungible, freely moveable token akin to bitcoin, ethereum or any other cryptocurrency. But that same Steem can be put into two different types of smart contracts depending on the particular utility an individual wants.
The first is called Steem Power, which provides utility and leverage. Steem Power is the backbone of an account’s voting-potential. In other words, the more Steem Power an individual has, the stronger their vote is on Steemit.
Scott explained that the team wanted to provide a mechanism by which individuals could take a long-term interest in the project, while allowing others to continue with their speculation. In the white paper, Steem Power is compared to long-term capital commitments, similar to what a venture capitalist might do.
While users can invest their money instantly, there is an expectation that it will take time to see a return on that investment.
CoinTelegraph: I was just about to ask that actually. I had assumed it would use the bitcoin blockchain, so it has its own blockchain, and that is based off of NXT?
David Mondrus: We are blockchain agnostic, so we use what's best. In this case timestamping and hashing will be BTC, comm is iNation forked from NXT and other components may be other blockchains. We expect to support multiple currencies, multiple wallets and multiple chains.
Bitcoins are a crypto-currency. That means they can be used like a currency, but don’t physically exist like dollar bills. They are an online currency which can be used to buy things. They are digital cash that exist as bits on people’s computers. You can’t put them in a drawer, like dollar bills or gold Krugerrands. Bitcoins are used to complete transactions – just like any currency. Even though they are virtual, rather than physical, they are used like cash when transferred between people through the web.
Being virtual is not inherently a bad thing. The dollars on our financial institution statement, viewed online, are considered real money, even though those are just digital dollars. The fact that Bitcoins aren’t available in physical form is not really a downside, any more than the numbers on your financial statement are not available as physical currency either. Just like we use credit cards or debit cards to transfer value, Bitcoins can be spent in many locations, just like dollars.
What makes Bitcoins unique, versus other currencies, is that there is no financial system, like the U.S. Federal Reserve, managing their existence and value. Instead Bitcoins are managed by a bunch of users who track them via blockchain technology. And blockchain technology itself is not inherently a problem; there are folks figuring out all kinds of uses, like accounting, using blockchain. It is the fact that no central bank controls Bitcoin production that makes them a unique currency. Independent people watch who buys and sells, and owns, Bitcoins, and in some general fashion make a market in Bitcoins. This makes Bitcoins very different from dollars, euros or rupees. There is no “good faith and credit” of the government standing behind the currency.
Their stated short term goal with iNation is to allow you to travel internationally using only your phone, but it is hard not to think about the long term possibilities. International travel would be very impressive but it is potentially only the beginning. Once legal documents and contracts are uploaded to the blockchain, that is only one step away from smart contracts that are both stored and executed on the blockchain while also being enforceable in the fiat world. This is something they tell me they are “absolutely” working on.
One currency, two smart contracts
Part of the confusion with Steemit lies in the different ways that the currency is presented to users.
At the root is the currency Steem, which is the typical transferrable, fungible, freely moveable token akin to bitcoin, ethereum or any other cryptocurrency. But that same Steem can be put into two different types of smart contracts depending on the particular utility an individual wants.
The first is called Steem Power, which provides utility and leverage. Steem Power is the backbone of an account’s voting-potential. In other words,
the more Steem Power an individual has, the stronger their vote is on Steemit.
Scott explained that the team wanted to provide a mechanism by which individuals could take a long-term interest in the project, while allowing others to continue with their speculation. In the white paper, Steem Power is compared to long-term capital commitments, similar to what a venture capitalist might do.
While users can invest their money instantly, there is an expectation that it will take time to see a return on that investment.
https://twitter.com/bitrexglobal
Hi boo! Thanks for following me and I hope you like my tweets. I turned your notification on, could you do the same? Have a nice day! :revolving_hearts: -via
https://twitter.com/harussepakat
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