AlipayHK Launches Cross-Border Blockchain Remittance

[HOT] Recruiting merchants at PBank OTC trading area. No threshold Entrying to OTC, No Transaction Fees!

In order to provide you with more convenient services, from 11:00 on July 18, 2020, all users who have passed the KYC review will automatically be certified as Merchants at PBank OTC trading area, and will be exempted from OTC transaction fees (Remarks: previously, merchants posted advertising fees for 0.1% of the posted amount.).
Users are welcome to go to the PBank OTC trading area to publish trading advertisements or directly trade.
PBank OTC transaction notes:
  1. Before the fiat currency transaction, please complete KYC;
  2. Before the fiat currency transaction, please bind the payment method.
(1) In order to ensure the normal use of your accounts, users are requested to use Alipay or WeChat for OTC transactions as far as possible. It is recommended not to use bank cards to collect payments.
(2) In addition, your name in the payment method should be the same as the real name of the KYC.
  1. When you choose an OTC merchant, the merchant’s payment method, whether it is WeChat/Alipay/bank card, must be one of the payment methods you have, otherwise it will not be able to trade.
  2. When a merchant publishes an advertisement, he shall not maliciously set a price that is significantly different from the market price.
  3. When the buyer pays fiat currency off-site, please note that no sensitive information, such as “digital currency, BTC, bitcoin, USDT, PBank”, etc., so as not to affect the use of your accounts.
  4. If you encounter problems during the fiat currency transaction, if the buyer does not release the currency within the specified time after the payment, or the seller encounters the buyer’s delayed payment, you need to appeal. Please click here for the appeal process. If you have any questions, you can also contact customer service.
For more precautions, please carefully read and follow the trading rules of the PBank OTC. PBank reserves the right to cancel the qualifications of users who do not follow the rules to participate in OTC trading at any time, and to block accounts.
Features of PBank fiat currency transaction (OTC):
Safe: technology, products, services and other dimensions guarantee users’ transaction security; Convenient: merchants and users independently trade, and the platform provides comprehensive and detailed information display; Support the expansion of trading pairs: In the future, PBank will successively launch transactions of different currencies and fiat currencies to fully meet user needs.
About PBank
PBank is a global digital asset service platform registered in Singapore and controlled by Dade bank of America, providing users around the world with safe, stable and convenient integrated digital asset service.
PBank pays attention to compliance, and has obtained cooperation with local regulatory agencies in overseas countries. It has many compliance licenses and compliance support from America(MSB license), Kyrgyzstan and other overseas countries. PBank develops diversified business strategy. It not only has operation centers in many places around the world, but also includes digital asset bank, investment bank, digital asset exchange and digital asset wallet. PBank provides users with industry-leading transaction depth and safety and fast operation experience. Meanwhile, mobile terminal and multi-language switch make it convenient for users around the world to use anytime and anywhere.
Official website: https://www.pbank.com PBank APP download link: https://www.pbank.com/download.html
You can also check the latest news through the official PBank account:
Twitter: https://twitter.com/OfficialPbank Weibo: https://www.weibo.com/pbankglobal Telegram Global Group: https://t.me/PBankGlobal Telegram Chinese Group:https://t.me/PbankChinese LinkedIn: https://www.linkedin.com/company/pbank/ Github: https://github.com/PBANKcloud Medium:https://medium.com/@pbankglobal Instagram:https://www.instagram.com/pbankglobal/ WeChat subscription accounts: @PBankGlobal
submitted by PbankGlobal to u/PbankGlobal [link] [comments]

Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?

Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?

Chinese authorities are testing the digital yuan: is it worth waiting for the digital dollar?
The development of the digital renminbi is proceeding rapidly: a few days ago it became known that companies and customers of the largest banks in several cities of China were testing it. Moreover, corporations such as McDonald’s and Starbucks will take part in the test, among others. + Why is China in a hurry to release a national cryptocurrency, at what stage is development and why its main opponent is not Bitcoin or Libra from Facebook, but the US dollar, DeCenter found out.
For a long time, almost nothing was known about China’s national digital currency (DCEP), or the digital renminbi, except that the Chinese authorities were working on it. Information was officially confirmed only in 2018. Moreover, it turned out that research and development has been ongoing since 2014. And in the summer of 2019, the deputy head of the department of the National Bank of China (NBK) Mu Changchun, who is called the main ideologist of the digital renminbi project in power, said that he was “almost ready.” This was preceded by the sensational announcement of the cryptocurrency project Libra from Facebook, which officials in many countries took with hostility.
As DeCenter wrote, cryptocurrencies have pushed the Chinese authorities to create DCEP by the growing competition with fiat currencies. Despite the formal ban on cryptocurrency exchanges and ICOs, Chinese people are still actively using crypto assets. The digital yuan could be an alternative to decentralized coins. In addition, the main capacities of world mining of the Bitcoin network are concentrated in China, the blockchain startup industry is developing rapidly and with government support. Such a contradictory and motley picture.
According to the professor of Fudan University, Michael Song, the real impetus for accelerating the development of the digital renminbi was not so much the Libra coin, but the keynote address by President Xi Jinping in October 2019. Then he called on officials to “make every effort” to develop the blockchain and introduce solutions based on it into the real economy. At the same time, Xi noted the importance of implementing technology in digital finance. According to Song, this was a signal for central authorities to accelerate the release of DCEP and facilitate its distribution in China and beyond.
Mobile App First
But the real details about the digital yuan became known recently, in April. Then, WeChat published screenshots from the test mobile application of the Agricultural Bank of China (SBC) for operations with DCEP. Some of the application’s functions were visible on the screenshots: wallet, function of payment via QR-code (a popular payment method in China), receiving and sending money, as well as “pairing” wallets of two users for transactions through convergence of devices (probably using NFC-technology)
Mobile app interface for the RMB.
Later, the NBK confirmed the authenticity of the screenshots and added that the digital renminbi is being tested in cooperation with several commercial banks, and its territory is limited to four major cities. As The Block later clarified with reference to Chinese media, in one of the cities — Suzhou — municipal officials in May will receive half of the subsidies for travel on public transport in “digital yuan”.
The authorities did not disclose the official launch date for DCEP, but added that the next test of the digital national currency will be held in 2022, during the Beijing Winter Olympics. Probably, then the scale of the test will be much larger and will also affect foreign citizens.
It is curious that on the same day, the State Committee for Development and Reforms of the PRC — the former Gosplan, now in charge of strategic economic planning, announced the inclusion of blockchain in the national technology development strategy. Now it is a priority for the state along with other promising areas, such as artificial intelligence, cloud computing and the Internet of things.
Commerce and trading in the digital yuan
The NBK is not limited to banks and individual users of the digital yuan: thanks to a report from the Chinese publication InterChain Pulse, another test was revealed, but with the participation of almost two dozen companies. The project will be held on the territory of the New Xun’an District (something like a special economic zone, but an urban type).
The project includes companies in the field of catering, retail, transport and entertainment. The list also includes American companies McDonald’s, Starbucks and Subway, as well as a number of local chains: fast food Qingfeng Baozi, supermarkets JD (operated by the leading online retailer of the same name in China), Jinfeng cafe and others. Four state-owned banks provide financial infrastructure, as well as fintech giants Ant Financial (formerly Alipay) and Tencent. Administrative support is provided by local governments.
Xun’an — a kind of testing ground for the “digital city”. All government services have already been digitized here, 5G mobile networks, unmanned vehicles and much more are used. At the end of March, a blockchain laboratory was opened in the city, which will be engaged in the implementation of DLT-based solutions in urban infrastructure and services.
At the same time, InterChain Pulse did not provide data on the date of the start of the digital renminbi experiment in Xiongang or the timing of its implementation.
Ram against the dollar
Given that the digital yuan is a project of the Chinese authorities, it is not surprising that, in addition to domestic economic interests, they also pursue political goals. Namely, the victory over the global “hegemony” of the US dollar. So, the DCEP developer Mu Changchun in September last year said that “the digital yuan is necessary for China to protect the monetary sovereignty of the country”.
The Ledger Insights portal cites an article by the Chinese political science center Zero One Think Tank, which states that the digital yuan will help “internationalize” the Chinese currency. In particular, through transactions in large-scale foreign economic projects of the PRC. Among them is the One Belt, One Road initiative, which brings together many of China’s neighbors as part of the Silk Road Economic Belt and the 21st Century Sea Silk Projects. High scalability of DCEP will solve the problem of increasing the share of settlements in RMB in foreign trade. So far, China has failed.
State-owned Chinese companies already have the infrastructure needed for cross-border operations in the digital yuan. For example, last fall, the Chinese Construction Bank (the third largest in China) released the second version of its financial blockchain platform for international settlements after the volume of operations on it exceeded $ 50 billion. The platform users are mainly foreign banks and Chinese exporters.
All four major Chinese state banks, which recently announced their participation in the project for the commercial testing of the “digital yuan” in Xiongang, have their own foreign trading platforms based on a distributed registry.
Digital dollar
The U.S. currency really dominates global finance: in 2019, 90% of international transfers and 60% of government reserves were in US dollars, while the yuan in both segments accounted for only 2%. Such data are quoted by Voice of America.
The dollar is needed by private companies and banks to hedge the risks of depreciation of national currencies in international transactions. However, the widespread use of the dollar also gives the US government leverage — for example, with the introduction of economic sanctions.
The emergence of alternative international currencies could undermine US influence. In a commentary on Voice of America, Special Assistant to the President Tim Morrison expressed confidence that Beijing’s intention to “dominate this new financial technology should be alarming”, referring to cryptocurrencies.
Apparently, while the US authorities do not plan to issue their own digital dollar.
In late February, speaking in the Senate, US Treasury Secretary Stephen Mnuchin said that Washington does not intend to issue a national cryptocurrency at this time, but may return to this issue in the future.
The day before Mnuchin’s statement, Jerome Powell, the head of the US Federal Reserve System, spoke in the House of Representatives. Congressmen called on him and colleagues in the government’s financial bloc to step up work on the digital dollar until they got ahead of the Chinese. To this Powell replied that the conditions in the USA and China are different: “For example, the idea of a registry where everyone will see each other’s transactions is unlikely to be attractive in the context of the United States. This is not a problem for China.”
As for Libra, last year’s announcement of which was accompanied by mass criticism of Western officials, on April 20 an updated version of the white paper project was released. In the new document, the developers officially abandoned the concept of a single global stablecoin, decentralization and anonymity and pledged to comply with all regulatory requirements.
submitted by Smart_Smell to Robopay [link] [comments]

TomoChain AMA with DAppBird: Public blockchain applications for businesses.

TomoChain AMA with DAppBird: Public blockchain applications for businesses.

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Hi everyone. Pleased to be here! Thank you for taking your time to join me.
I’m the Chief Business Development Officer for TomoChain.
Educationally I graduated university with degrees in both Industrial Engineering and Economics from Georgia Tech, and later earned an MBA from the Wharton School of Business.
I grew up as a gaming addict and have a video game collection that is a bit unwieldy. Dozens of consoles and, at one point, over 13 classic arcade machines.
So, before crypto, I spent much of my profession in the gaming space. I was a Game Designer, Game Producer, and eventually Studio Head for a major games studio that was recently purchased by Rockstar Games. I have run my own game-related tech businesses as well.
I fell into crypto back in 2014, and over time it became a second passion of mine as I began to truly understand the value of decentralization. True ownership of data was not possible until Bitcoin came along and that is simply a powerful and game-changing message to a world structure built on an opposing foundation.
Brief Introduction

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TomoChain is a Public Blockchain powered by Proof-of-Stake Voting. TomoChain launched into Mainnet 1 year ago in December 2018. It is secured by 150 Masternodes, of which I’m proud to be an operator myself. TomoChain is EVM Compatible and runs at a speedy 2000 TPS with a 2 Sec Blocktime. Gas fees are almost zero too.
Based out of Vietnam, TomoChain is Southeast Asia’s largest public blockchain. We are focusing on developing a full suite of DeFi products. We also have commercial and enterprise clients. TomoChain has a number of major crypto-partnerships including notables like Neo Blockchain, Chainlink and Crypto.com. Our Masternode network is run by some of the most recognizable players in the space as well, including Neo Global Capital, CoinGecko, HashQuark, KuCoin, and more large players are on the way.
TomoChain earned its place onto Binance.com with a fee-free listing last year by winning the BinanceDEX community vote in August 2019. Binance has written us up in a detailed Binance Research Report and awarded us the V-Label. We have also been in a number of their reports, including those related to Dapps and DeFi. We have been interviewed by Forbes.com official and had an in-person interview at NASDAQ, in the heart of Times Square, about TomoChain and our upcoming TomoX Protocol.
In China, specifically, we have been integrated into and have solid relationships with various blockchain players including HashQuark, HashKey, CoboWallet, Conflux, and many others. We launched an Ecosystem Development partnership with Neo Blockchain last December and co-hosted a meetup + workshop with them as well.

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GEARED FOR REAL WORLD USE
Now, let’s talk about how TomoChain has been built for real-world use.
We’re looking at Payments & DeFi as low hanging fruit when it comes to user adoption and TomoChain is developing a suite of tools to support this. The biggest challenge for having users benefit from Blockchain on a day-to-day basis is how much friction is involved to acquire, store and use it. Even stable coins are dual currency systems. The Stablecoin and then the Native Token to pay gas fees. Blockchain is simply not user-friendly.
Our view is that the true solution for Blockchain adoption by the world is end-users shouldn’t need to know they are using blockchain technology at all. It should be a hidden technology layer, similar to payment processor settlements or even the internet distribution centers/routers that power this very AMA we’re all participating in right now. Do we need to know the underlying technology infrastructure to use them? Nope.
We are developing a system to hide this friction, so the TomoChain blockchain can be integrated into real-world applications that you use every day on mobile or web.
There are 3 protocols that we are building to enable this future: (1) TomoZ: Zero Friction (2) TomoX: The DEX Protocol (3) TomoP: The Privacy Suite.

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TomoZ: Zero Friction - Our TomoZ protocol is a core starting point to the solution for mass market use of blockchain technology. TomoZ: Zero Friction allows for token issuance and use by having gas fees paid by the token itself. That means you don’t need TOMO to send transactions. You don’t even need to know you’re using the TomoChain blockchain.
So you could buy a cup of coffee at a café using loyalty points that are TomoZ tokens. The customers redeem for their coffee or earn it, but they don’t even have to know it’s a blockchain token which they actually own.
This approach is structured to enable the next million-plus users to utilize blockchain as a technology layer. After all, the real value of any Blockchain is in its utilization of high-quality transactions.
Now, TomoZ transactions aren’t FREE. It actually does use TOMO, but that’s hidden from the end-user. The way it works is that the token issuer deposits a small amount of TOMO into a pool. Every time the token is sent, TOMO is taken from this pool to pay the Masternodes.
The key is that the end-user doesn’t need to get involved with internal workings, which is why we call it the Zero Friction protocol
Now let’s talk about TomoX: The DEX Protocol
TomoX is an upcoming DEX Protocol that allows anyone to launch their on permissionless Decentralized Exchange in minutes. It requires very little technical knowledge making it a near turn-key solution.
TomoX is the fastest DEX experience since it’s a Layer 1 protocol. This means it’s run and secured by the entire TomoChain network. Our Masternodes manage the DEX instructions directly, rather than other DEXs that operate as a Layer 2 protocol. What this means is TomoX DEXs will operate at about 50x faster than a typical 0x exchange. That significantly improves the end-user experience.
TomoX DEX operators have access to a shared liquidity pool across all DEXs. That means a user buying on one DEX can be matched with a user selling on another DEX. Of course, Operators can customize and choose which tokens to include.
TomoX is fully decentralized since the Order Book is on-chain. Many other semi-decentralized exchanges store the OB on a centralized service in order to speed up the execution. That means there is a centralized point of weakness for them. TomoX minimizes custody and security challenges that centralized exchanges have too since all users are always in possession of their assets.
TomoX is currently in testnet and you can checkout TomoChain’s own DEX, aptly called TomoDEX, here: https://dex.testnet.tomochain.com/
Here is a link to get some free Testnet TOMO that can be used on the testnet version of TomoDEX: https://faucet.testnet.tomochain.com/
And finally, there is TomoP: Privacy Suite - TomoP is currently in testnet and is going to be the FASTEST way to send tokens privately. 2-4 seconds fast!
Any token issued on TomoChain will be able to utilize TomoP to send privately and anonymously. And that’s not all. We are including access to wrapped BTC, ETH, USDT, and other tokens that can also utilize the blazing speed and privacy that TomoP will offer.
Dapp privacy is a major part of TomoP. It is going to allow for the creation of Dapps to be built to handle customer data with true privacy, including from the Dapp operators themselves. This can jumpstart a new wave of applications geared towards hiding user information, transactions, assets owned, etc.
We are issuing a new token standard (TRC21p) which will be purely private. The only data available will be on its token supply. Token issuers can optionally provide auditing access to enforcement authorities to meet regulatory compliance. What this means is if the next Global PayPal/Skrill/Alipay competitor can build their service right on TomoChain and meet the most basic criteria required to stay above board in many jurisdictions.
If you guys want to check TomoP on testnet go here and login: https://wallet.testnet.tomochain.com/
Get some free Testnet TOMO that can be used with the TomoP testnet: https://faucet.testnet.tomochain.com/
Questions from the host
1. It’s been stated that TomoChain was on track to be a cash flow positive business, is it currently cash flow positive? What services or products is it offering to bring in this revenue?
Yes, absolutely. Our plan is to be cash flow positive this year. This really goes back to the level of experience our executive team has. Everyone is seasoned, having come from different fields, in big business and startups. Before the crazy boom of ICOs and IEOs, raising funding for traditional startups required considerable proof that there was market fit, that there were actual customers to drive revenue, and a model for growth.
We knew that TomoChain’s funds raised during the ICO were for a space that has yet to prove itself so the company had to be smart in budgeting for an uncertain future. And part of that initial preparation was selling much of the ICO proceeds into fiat. Something MANY blockchain startups did not do, largely due to ambitious teams that are also headed by very inexperienced leaders. So while the bubble burst, we had capital to continue operations and to even scale it.
And, we ARE running a business. A sustainable business requires us to identifying areas to generate income in order to minimize risk and to sustain the business in the long term. So we do both consulting and services work by helping clients to develop wallets, launch tokens (Orbyt), build exchanges (AIS), and of course enterprise solutions on the blockchain of which we have clients based out of Japan and in the Middle East using blockchain for traceability solutions across various industries from automotive, healthcare, and food.
2. What is the most strategical step TOMO is doing to bring adoption of TOMO coin to our daily lives?
Empowering businesses with a truly scalable blockchain that can be used by thousands and millions of users. We see user adoption of blockchain coming from businesses that base their solutions on blockchain technology. And, TomoChain has a number of real income-generating companies that have built on us, from exchanges to payment services to enterprise clients. Not bad for 1 year I say, especially during a stagnant market. Here are some examples.
UcarPac – A Top 10 User Car company in Japan is building traceability solutions on the blockchain. We completed a POC at the end of last year. After the assessment, the client decided it was solid and commissioned Phase 2 to expand the development of the project for commercialization purposes
Triip Protocol – Triip is a destination service for travelers to book vacations powered by Blockchain. Triip is a Shark Tank Vietnam alumnus, and the first ICO on TomoChain. Users can book tours and staycations using Triip or TOMO tokens.
WisePass – A service that sells subscription services to get discounted Starbucks, Singha Beer, and even makeup (of all things) integrated TomoChain as a payment solution
“Undisclosed Vendor” – Soon to be announced, a large player in the corporate gift giving business is also launching a Dapp on TomoChain to allow for them to make purchases with TOMO across thousands of items.
Maka - A peer-to-peer marketplace to conveniently buy/sell TOMO and other blockchain tokens using standard payment gateways, including e-wallets and bank transfers.
Coin98 – A local Vietnam crypto media company launched an App to allow for their community to earn their TomoChain token called C98 and use it for products and services geared around investors and gamers. The reception has been HUGE. 95,000 users and generating 500K+ transactions on our blockchain within 3 months of their launch! They are proving that innovative new business models can be adopted relying on and being blockchain specific.

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3. Do you have any plans to collaborate with developers or attract more Dapps built on TomoChain?
We are today. Our founders run the largest Blockchain Developer community in Vietnam and we work with a number of them to help develop solutions on the blockchain.
Our team has held Hackathons a few times over the last couple years and we have done developer workshops too, including one with Neo Blockchain. And this year we are working closely with educational institutions to launch blockchain courses in Vietnam.
Every Dapp developer we work with is a partner. We try to provide as much support as possible, both technical and marketing. A number of Dapps are games on TomoChain and we hold contests regularly to promote the developers and their titles.
Since we are focusing on alleviating the friction of blockchain technology, we are building out an API that will make it even easier for developers to integrate blockchain into standard applications. This is intended to allow standard non-blockchain application developers to operate in an environment they are accustomed to while also having the benefit of blockchain technology accessible.
Onboarding more developers will take time. However, I’m confident we’re on the cusp of something wonderful in the coming years that will change the relationship between users and applications enabled by blockchain. Entirely new economic structures can be set up since it’ll be the users owning all of their data for the first time in digital history. And true ownership is a powerful motivator that can be harnessed by innovative blockchain businesses.
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HUOBI – THE EXCHANGE BUILT FOR THE FUTURE - A HONEST REVIEW BY AN USER

HUOBI – THE EXCHANGE BUILT FOR THE FUTURE - A HONEST REVIEW BY AN USER
HUOBI – THE EXCHANGE BUILT FOR THE FUTURE
A HONEST REVIEW BY AN USER
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Leon Li founded Huobi in 2013, a former computer engineer at Oracle. Huobi Global is a digital asset and crypto currency exchange headquartered in Singapore. Huobi also has local exchanges in South Korea, Japan, and through its strategic partner, the United States.
The Huobi Group, the parent company of Huobi Global, has received venture capital finance from prominent Beijing based ZhenFund and American VC firm Sequoia Capital.
The Huobi Global exchange serves traders in 130 countries. Through Huobi Global, traders can access almost 200 crypto and stable coin assets. Huobi users can download trading clients on both mobile and desktop devices.
Huobi has traded over US$1.2 trillion in digital assets, and at one time it was the world’s leading exchange by volume, capturing 50% of all global trading volume.
In terms of security, Huobi has adopted a decentralized exchange structure, which helps to resist DDOS attacks. However, Huobi has implemented the ‘Huobi Security Reserve, in which Huobi has set aside 20,000 BTC reserved for users who have lost funds either due to hacks, or exchange failures.
Ease of use
The UI is clean, user-friendly and perfectly designed with all the basic requirements for a crypto-trader. The charting software is provided by Tradingview, which is exactly what you want.
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Huobi OTC
Huobi’s OTC exchange is a good initiative. The Huobi OTC exchange allows users to trade funds peer-to-peer which doesn’t affect the market price of the underlying asset. The OTC trading-desk, with transfer options like bank-transfers, PayPal, WU, Paytm, UPI, IMPS, Alipay & many others, is an easy to use payment gateway. With a secure exchange to diversify your investment, right next door, too with effective list of Buy and Sell options for BTC, ETH, USDT and EOS coins.
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Huobi Lite
Huobi Lite App provides a convenient channel for everyone to buy cryptocurrencies at the best prices. Tailor-made for beginners, traders, and users.
We can download the App directly from the respective iOS Store or Google Play Store. Alternatively, we may access via the link: https://lite.huobi.com/download
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On Huobi Lite, you can buy Bitcoin with your local currencies, credit card, or exchange cryptocurrencies tokens, with zero fees at competitive prices. Huobi Lite currently supports MYR / HKD / VND / USD (Credit Card deposit only), with more to come in the future.
Huobi Derivative Market (Huobi DM)
Margin Trading
Huobi Global launched Huobi Derivative Market (Huobi DM) exchange to selected countries. It provides margin trading, with very low daily loan interest rates of 0.1%. Margin Trading allows users to increase their investment exposure given a limited base principal to enjoy multiple returns.
3-Steps taken in Margin Trading:
  1. Request for Loan
  2. Trade on Margin (Long/Short)
  3. Repay Margin Loan and Interest
With the introduction of Cross Margin on Huobi, users will have to explicitly input the respective margin type before executing the above 3 steps. Balances on the Cross Margin balance does not show on the Isolated Margin balance.
Huobi Futures
Huobi Futures is a kind of digital currency derivatives. Users can make a profit from the rising/falling of digital currencies prices by going long or selling short based on their own judgment.
The Huobi Futures Contract adopts spread delivery. When the contract expires, all open positions will be closed at the index-based last-hour arithmetic average price, instead of physical delivery.
BTC/ETH/EOS/LTC/XRP/BCH/TRX/BSV/ETC Contracts are available on Huobi DM. Contracts are priced in USD, with corresponding digital currency (BTC/ETH/EOS/LTC/XRP/BCH/TRX respectively) as margin to open positions, and PnL is also settled in corresponding digital currency.
Weekly, bi-weekly and quarterly contracts are available in Huobi DM. Weekly contracts will be settled on imminent Friday; Bi-weekly contracts will be settled on next Friday; Quarterly contracts will be settled on the last Friday of March, June, September and December.
Choices of leverage: 1x, 5x, 10x, 20x
Huobi Perpetual Swap
Huobi introduced Perpetual Swaps on March 27, 2020 (GMT+8). Huobi Perpetual swap is a kind of digital currency derivatives. Users can make a profit from the rising/falling of digital currencies prices by going long or selling short based on their own judgment. Similar to a margin spot market, its price is close to the price of the underlying reference index. The main mechanism for anchoring spot prices is the cost of funds. Perpetual swap have no delivery date. Users can always hold it. Perpetual swap are settled every 8 hours. After each settlement, the realized profit/loss and unrealized profits/losses are transferred to the user account balance.
Partial Liquidation
Huobi Futures adopted partial liquidation to help position holders reduce liquidation risk. Users with large positions and high leverage bear high risk. Huobi Futures releases partial liquidation with the aim to lower possible losses due to high price volatility thus giving users better trading experience.
Under partial liquidation mechanism, when liquidation is triggered, instead of liquidating all positions at once, the system reduces positions gradually till a grade whose margin ratio is great than 0. Full liquidation will only occur when the margin ratio of tier 1 upper limit net position still fails to be great than 0.
Trading Fees
The Huobi exchange has a fair trading fee structure. Every asset traded via Huobi Global is subject to a 0.2% trade fee, for both market makers and takers. Further, Huobi Global has introduced a tiered fee system which offers competitively lower fees for high volume traders. VIP membership gives access to various fee reductions and other benefits.
Huobi Prime
Huobi Prime, the Launchpad platform which we can call Direct Premium Offering (DPO), does share some similarities with initial exchange offerings (IEO) like Binance Launchpad, but it is unique as it is not a fundraising platform, and any coins purchased on the platform are immediately deposited into the users’ wallets and tradable on Huobi Global. Huobi Prime offers its users early access to the coins of premium projects, which can be bought using its native crypto currency, the Huobi Token. To avoid dumping, Huobi has implemented an innovative idea of a period of tiered price limits.
Huobi FastTrack
Huobit FastTrack, rebranded from Huobi Prime Lite, is a new listing model. Wherein, all participants will have a direct say in what projects are listed on Huobi Global and when. In addition, winning voters will get access to quality tokens at below market rates. The program also provides much needed exposure and a straightforward listing process.
Huobi Wallet
https://preview.redd.it/6iux5zotztt41.png?width=602&format=png&auto=webp&s=fef6f6d6813ec82a70df28b160fe18ba2237daba
Huobi Wallet is the official mobile wallet of Huobi Group, a leading global digital asset financial service provider. It is a multi-chain asset management tool that provides native support for various types of blockchains and all of the ERC20 tokens. So far Huobi Wallet supports BTC, BCH, LTC, ETH, ETC, USDT and all ERC20 tokens.
Huobi wallet is the first wallet to expand support to cover seven stablecoins including, Paxos Standard Token (PAX), TrueUSD (TUSD), USD Coin (USDC), Gemini Dollar (GUSD), Dai (DAI), Stasis EURS (EURS), and Tether (USDT).
Huobi Wallet is built based on the core principle of security-first. The wallet gives back its users, complete control of their private keys. In simple terms, You own your assets. The wallet is backed up with mnemonics, so in future when you want to import your wallet, it’s just simple few clicks.
Currently, the wallet is compatible with both iOS and Android devices and you can download both from here (www.huobiwallet.com/en)
Huobi Chain
Huobi launched Huobi Chain’s Testnet (“the Testnet”) on February 29th 2020 (GMT+8). Huobi Chain is China’s autonomous cum compliant-ready blockchain platform, and is committed to providing a global, blockchain-based, digital asset infrastructure. Huobi Chain is committed to providing a high-performance, blockchain-based, global digital asset infrastructure. Once the Mainnet goes live, Huobi Chain will announce HT- related events: e.g. pledge HT to be a Super Node, etc.
HT Lock & Mine (Huobi Pool)
Huobi launched HT Lock and Mine operations on 25th July 2019 (GMT+8). Users who lock HT tokens receive daily HPT rewards. Specific reward quantity will depend on lock option period selected, quantity locked and Huobi Pool’ s mining hash power and daily float.
DPOS Rewards: All Huobi Global users with more than 1,000HPT holdings in their HBG account will receive DPOS mining rewards. Currently, token reward received under DPOS mining include EOS, TRX, CMT, ONG, IOST, ATOM, IRIS, LAMB。
Huobi Support
Users of the Huobi exchange can access 24/7 live chat and Huobi help center. Those facing issues can also open a support ticket to have their issue resolved by an expert representative immediately.
The Huobi Group has a very active YouTube channel, featuring Huobi Talk, where it posts user tutorials, detailed guides, and crypto currency information for traders.
What I like the most about Huobi
  1. An established platform that’s been operating since 2013, which is a long time in the crypto world.
  2. Highly secured with decentralized exchange structure, which helps to resist DDOS attacks. Huobi has never suffered a large hack.
  3. Huobi Security Reserve of 20000 BTC to compensate users’ loss of funds.
  4. Dedicated, fast and 24/7 customer support.
  5. Regulated in major jurisdictions.
  6. User interface is very smooth and clean.
  7. Over 230 crypto assets are available.
  8. User education program is good initiative.
  9. Separate trading desk for institution and firm size users.
  10. Very transparent about its operations, listings and projects.
  11. Huobi Wallet is secured and very easy to operate.
  12. Huobi mobile app is smooth and very easy to use.
  13. Competitive fees.
  14. Has taken serious steps towards avoiding wash trading.
  15. Impressive array of trading pairs.
  16. Has given more important on community participation, like voting for listing, mining pool, Huobi Knights program etc.
  17. I like Huobi Prime because of following reasons: -
(a) Purchased tokens are immediately deposited into user’s accounts,
(b) As projects launch exclusively through Huobi Prime from day one, all users get assets at the best price.
(c) Tiered price limits on the platform protect both investors and projects from immediate dump.
  1. Huobi screen projects and launches which are only the best. I don’t have to worry about poor or scammy projects.
  2. Burning of HT is a great move and it would benefit long term holders.
Join Huobi by click here: https://www.huobi.com/en-us/topic/invited/?invite_code=7zkb4
Visit
Huobi Global: https://www.huobi.com/en-us/
Join Indian Group: https://t.me/huobiglobalindia
Global telegram Channel: https://t.me/huobiglobalofficial
Join Huobi by click here: https://www.huobi.com/en-us/topic/invited/?invite_code=7zkb4
submitted by VinayTM to HuobiGlobal [link] [comments]

Li Lihui, Former President of Bank of China: We are in a period of great opportunities for the development of blockchain technology and industrial innovation

Source: https://www.chainnews.com/articles/946394501375.htm
Source of this article: Sina Finance. This content is intended to convey more market information and does not constitute any investment advice.
Sina Finance News On November 29, 2019, the ReFinTech Financial Technology Summit was held at Beijing New World Hotel. Li Lihui, the head of the China Mutual Fund Association's blockchain team and former president of the Bank of China, attended and gave a speech. The topic of the speech was "National Strategy and Fiat Digital Currency."
Li Lihui said that digital currencies will play a central role in the global digital economy competition in the future, and it is necessary to step up research on feasible routes and implementation plans for the issuance of global digital currencies led by China. Digital finance is bound to further strengthen the globalization of finance. In the construction of the global system of digital finance, China should actively participate in and strive for the right to speak. It is necessary to strengthen international regulatory coordination, promote regulatory consensus, and establish a unified international regulatory standard for digital finance.

Blockchain technology architecture
Li Lihui pointed out that blockchain is an integrated innovation of multiple technologies and has the following four characteristics.
Chain block structure based on timestamp, it is difficult to tamper with the on-chain data; Real-time running system based on consensus algorithm, specified data can be shared; Based on self-rules of smart contracts, technical trust can be authenticated; Based on the end-to-end network of the encryption algorithm, the counterparties can choose each other.
According to different technical architectures, blockchain can be divided into 3 types.
The basic characteristics of the public blockchain architecture are: a decentralized distributed ledger that uses open read, write, and transaction permissions; a decentralized digital trust mechanism that uses consensus algorithms and encryption algorithms; and a virtual currency incentive mechanism that demonstrates work contribution and equity. .
The technical drawbacks of the public blockchain architecture are high hardware requirements and low transaction speed. If the public blockchain can break through the technical bottleneck of transaction speed and resource utilization efficiency, and achieve publicly recognized reliability, it may be able to expand the territory in social life and modern commerce.
The characteristic of the private blockchain architecture is that the distributed ledger is centralized, and the read, write, and transaction permissions must be approved by the "central" and subject to the constraints and restrictions of the "central". The digital trust mechanism of the private chain does not emphasize "going intermediary".
Private blockchain has the "centralization" feature of traditional information technology architecture, but uses blockchain technology such as distributed ledger, smart contracts, and encryption algorithms. Blockchain platforms are easy to integrate with existing information technology platforms and can establish bureaus Regional multi-dimensional interaction architecture improves data processing speed and quality.
Alliance blockchain can generally be regarded as a collection of private blockchains. It adopts a distributed, multi-center, intermediary architecture. Its basic characteristics are open-source, multi-center distributed ledger, limited license, limited authorization. Read, write, and transaction permissions, without emphasis on the digital trust mechanism of intermediaries.
Different from the traditional big center data architecture, the "central" status of the alliance chain may not be designated by the administration, but largely depends on the competitive results of technological advancement and service friendliness; "trust" can come from intermediaries and rely on tradition Credit model can also be technical trust without intermediary.
The characteristics of distributed, end-to-end, open source, and multi-center that the blockchain technology theoretically possesses are likely to restructure the technology architecture in a certain range and rebuild the business model in a certain range.
First, the distributed architecture and end-to-end network are helpful for the parallel transmission of information, the realization of information sharing, and the parallel control of control. In the scenario of many counterparties, many transaction links, long management chains, and high degree of discreteness, time-space folding And three-dimensional interactive business architecture to improve cooperation efficiency and operation efficiency.
Second, the chain block data structure, consensus mechanism, time stamp, and key technologies can help prevent tampering of the original data, control the risk of data leakage, and protect privacy and data security.
Third, smart contracts help to achieve differentiation and credibility of transaction rules, automate the execution of business processes, ensure the timeliness of transactions, avoid false transactions and repeated transactions, and reduce moral and operational risks to a certain extent.
In the field of finance, the application of the alliance's blockchain technology is likely to build a distributed ledger system in which large, medium and small financial institutions participate together, forming a technical platform for financial institutions to interconnect and interconnect, and to seamlessly link existing systems with innovative systems and realize financial The direct link between the service system and customers enables information sharing, product sharing, and service sharing to provide more efficient financial services.
The practice of blockchain technology development and application proves that in large-scale commercial applications, the alliance blockchain is most likely to become the mainstream architecture.

Central Bank Legal Digital Currency
Digital currencies with legal status, endorsement of state sovereignty, and subjects with issuance responsibility constitute legal digital currencies, or central bank digital currencies.
Central banks of many countries have long announced the launch of digital currency research and development. But regarding the basic structure of legal digital currency, countries are still demonstrating and have not yet made a choice.
The development of China's fiat digital currency lasted for 5 years, and there have recently been signs of preparation for issuance. According to the information disclosed by central bank officials, China's legal digital currency may be called DC / EP, Digital Currency / Electronic Payment, that is, digital currency and electronic payment.
First, adopt a two-tier operation delivery system to inherit the indirect issuance model. Applying digital technologies such as blockchain, fiat digital currencies can adopt the "central bank-public" direct issue model. In the direct issue model, the central bank can have the absolute power and ability to regulate the money market and can directly absorb public deposits, which will limit the initial credit capacity of commercial banks. If the indirect issuance model of the fiat currency "Central Bank-Commercial Bank-Public" is selected, it will inherit the current money market operation mechanism and monetary policy transmission mechanism.
The benefits of inheriting the current model are savings and robustness. First, it is not necessary to rebuild the financial infrastructure, which is conducive to saving investment; second, it is not necessary to restructure the currency issuance and management structure in addition to the old cloth, which is conducive to managing risks; third, it is not necessary to look forward and backward to connect different characteristics of the currency issuance model, which is conducive to stabilizing the market.
Second, adopt a parallel technical route and adhere to the central bank's central management model. Based on the judgment that "the existing blockchain technology cannot meet the high concurrent demand of the retail market in the super market", fiat digital currencies should remain technologically neutral and do not rely on a single technology. The central bank should adhere to a centralized management model to ensure the reliability of the monetary policy transmission mechanism, the efficiency of currency control, and prevent financial institutions from overspending.
Third, the "account loose coupling" method is adopted to replace the currency M0. Electronic payment tools such as WeChat Pay and Alipay use the "tight coupling of accounts" method. They need to be tied to a bank account and transfer value through the bank account. Under the real-name account management system, the need for anonymous payment cannot be realized. The fiat digital currency may adopt the method of "account loose coupling" plus electronic wallet, to achieve end-to-end value transfer from bank accounts, reduce the dependence of financial intermediaries on transaction links, and achieve controllable anonymous payments within the scope permitted by the central bank.
At present, the design of China's legal digital currency may be limited to replacing M0, that is, cash in circulation, rather than narrow money M1 and broad money M2. This depends on the judgment of the digital trends and potential market demand of China's M0, M1, and M2.
WeChat Pay and Alipay use digital technology to build mobile payment and living service platforms that use trust links as a link, breaking through the traditional payment model, and have achieved 1 billion straight-line links, ranking among the top 2 in global mobile payment platforms. WeChat Pay and Alipay dominated the retail payment market, with cash and ATM transactions significantly reduced, and bank cards became bundled account cards.
The legal digital currency in China's design can theoretically be separated from the network and from banks to perform value transfer. This is different from WeChat Pay and Alipay. But in the end, whether it can replace traditional currency forms, replace emerging electronic payment tools, and become the main currency form and main payment tool will be decided by the market: it is more convenient to use, the circulation cost is lower, and the public is willing to accept it, thereby forming an economic scale with commercial value .

Digital Economy National Strategy
The application of blockchain technology has extended to many fields such as digital finance, the Internet of Things, intelligent manufacturing, supply chain management, and digital asset trading. How to evaluate the current status of blockchain technology and industrial development? My opinion is that the underlying technology of the blockchain is not yet mature, and the technical bottlenecks of large-scale and reliable applications need to be broken. We are in the period of great opportunities for the development of blockchain technology and industrial innovation.
First, blockchain technology is still immature and bottlenecks need to be broken.
In the underlying technology, as a technology integration innovation, the basic components of the blockchain database, P2P peer-to-peer network, and cryptographic algorithms are relatively mature, but they must further meet the new requirements of integrated applications; new mechanisms such as consensus mechanisms and smart contracts Technology needs to be improved. Gartner, a technology consulting company, believes that it will take 5-10 years for blockchain technology to mature.
At present, large-scale applications of blockchain technology have not been implemented in various countries. China's blockchain technology research and development is committed to breaking through the bottleneck of large-scale reliable applications.
The first is private computing technology. Under the blockchain consensus mechanism, how to effectively shield sensitive information, improve signature technology, secure computing technology, encryption technology, trusted execution technology, etc., to ensure data security and digital link reliability.
The second is the authenticity supervision mechanism. How to ensure the authenticity and integrity of the data before the on-chain, when the blockchain technology is used to trace the source of various assets, a closed loop is truly formed to avoid information distortion and prevent speculation.
The third is smart contract technology. How to avoid technical loopholes in smart contracts, and achieve controllable business logic corrections and contract upgrades.
The fourth is key technology. Key security is the cornerstone of blockchain trust. In the unique technical structure of the private key, how to effectively prevent the private key from being stolen or deleted maliciously, and to remedy the loss and theft of the private key.
Fifth, integration of diversified technology platforms. How to optimize the multi-dimensional parallel interaction architecture to achieve efficient links between more participants; how to improve the quality and speed of data processing to achieve ultra-large-scale, high reliability, and high security requirements.
Second, implement the national strategy for the digital economy.
The attitudes and trends of developed countries on digital finance and digital economy deserve our attention.
The United States is concerned about digital financial market norms. The focus of US regulation is to regulate digital financial markets and prevent digital financial instruments from being used in illegal areas. In 2017, the U.S. Securities and Exchange Commission included ICOs under supervision, and the U.S. Commodity Futures Trading Commission approved the Chicago Options Exchange and the Chicago Mercantile Exchange to launch Bitcoin futures trading. In 2018, the United States Securities and Exchange Commission stated that the regulatory strategy for digital currencies is to use case law enforcement rather than a systematic interpretation of securities laws, and to carefully, orderly, and actively clarify regulatory principles and boundaries.
Germany and France are concerned about digital sovereignty. On October 29, 2019, Germany and France announced the "Gaia-X" project involving German and French core companies, which aims to build a secure and reliable data infrastructure for Europe. German Economy Minister Peter. Altmeyer said that this infrastructure will help us regain digital sovereignty and lay the foundation for a digital ecosystem. French Minister of Economy and Finance Bruno. Lemaire said the project will include data storage, data concentration and data sharing. German Chancellor Angela Merkel said that what worries me most is that most of the processing of industrial and consumer data is done by American companies, and a kind of dependency relationship is being formed. Merkel advocates taking a long-term view and digitizing the overall layout from as many European perspectives as possible.
We should implement the national strategy of the digital economy and maintain the security of the digital economy.
The first is to master autonomous and controllable technologies.
On the underlying technologies such as the blockchain consensus mechanism and smart contracts, China currently lacks independent property rights. Most of the application projects in China use the open source blockchain underlying platform for adaptive adjustment and development, and optimize from the number of concurrent users, throughput, response time, availability, security, etc., to meet business needs, to achieve identity authentication, privacy Protection, node management and other functions.
Extensive application of foreign open source programs may lead to technology dependence risks, and must comply with the jurisdiction and legal constraints of the place where the open source platform is registered, potentially hiding geopolitical risks. For example, the terms of use of the open source program GitHub clearly state that the use of GitHub must not violate export control or sanctions laws in the United States or other applicable jurisdictions.
We should vigorously support technological innovation and strive to master digital technology. Clarify digital technology and digital industry policies, grant tax and fee concessions to digital technology R & D enterprises and professionals, encourage digital technology R & D and application, national team plus private team, Chinese plus foreign capital, large, medium, small and micro. In the field, we have independent and controllable intellectual property rights and establish global competitive advantages in key areas of digital economy and digital finance.
The development of next-generation computing architecture should be intensified to ensure the fairness and correctness of mathematical algorithms, the privacy and reliability of data, the security of the entire process and the entire cycle of data, and the speed and efficiency of mathematical algorithms.
The second is to accelerate standardization and institutional innovation.
The International Organization for Standardization ISO has established a blockchain and distributed ledger technical committee to study 11 standards, including terminology, reference architecture, privacy and personal information protection, security risks and vulnerabilities. The International Telecommunication Union (ITU) has established a distributed ledger technology security-related problem group to study 10 standards, including security assurance, security threats, and security framework. The development of IEEE standards for the Institute of Electrical and Electronics Engineers is mainly focused on blockchain in the fields of IoT data management, digital asset management, government department applications, and cryptocurrencies.
China's blockchain financial standardization construction and institutional construction have just begun. We should pay close attention to improving the technical standards, security specifications, and certification review systems for blockchain finance. Clarify the legal definition of assets, clarify the contractual nature and effectiveness of smart contracts, and clarify the responsible subjects and their behavioral and regulatory standards in a distributed architecture.
Based on the healthy development of digital finance, China should speed up the construction of the digital financial system and step up efforts to formulate digital financial systems such as blockchain financial supervision, digital asset market supervision, digital currency supervision, and legal digital currency issuance. Make overall plans and gradually establish a digital trust mechanism.
Digital currency will occupy a core position in the future global digital economic competition. It is necessary to step up research on the feasible path and implementation plan for the issuance of China-led global digital currency. It is necessary to further explore the feasible path of China's legal digital currency, including alternative range selection, controllable anonymous scale, offline operation technology, and so on.
Digital finance is bound to further strengthen the globalization of finance. In the construction of the global system of digital finance, China should actively participate in and strive for the right to speak. It is necessary to strengthen international regulatory coordination, promote regulatory consensus, and establish a unified international regulatory standard for digital finance.
submitted by Yayowam to CryptoCurrency [link] [comments]

Quant Network Partner with the largest Financial Network Provider in Europe, SIA, bringing Overledger to SIA's 570 Banks and Trading venues as clients. Quant Network are also working with the Central Bank of Italy for settlements

Quant Network recently attended Money 20/20 in Europe where they announced a partnership with SIA.
https://www.sia.eu/en/media-events/news-press-releases/sia-partners-with-quant-network-to-explore-innovative-solutions-in-blockchain-interoperability-for-banks-and-financial

So what we’ve done is instead of just announcing one client and one thing, we’re announcing that we’re working with SIA. So, SIA is leading European payment infrastructure. And what we’re doing with SIA is interconnecting blockchain networks with SIA, and doing settlements, which are central bank settlements, with the central bank in Italy. So what Overledger is doing is we’re actually bringing blockchain and interoperability to all of SIA’s clients, which are 580 banks. So, Overledger could be rolled out to all these institutions, financial services, banks, at scale, and have interoperability to get the benefits of this.

https://www.youtube.com/watch?v=0cNmGrLPoTo&t=7s

Just to make it clear this isn't SIACoin, this is SIA, the largest financial Network provider in Europe. some more info about SIA below:
The Eurosystem (compromises of the European Central Bank (ECB) and 19 National Central banks that are using the Euro such as the central banks of Italy, Germany, France, Spain, Netherlands, Belgium, Ireland etc.) operates the financial market infrastructure for the settlement of payments (TARGET2), TARGET Instant Payment Settlement (TIPS) and securities (TARGET2-Securities, or T2S). These platforms form the backbone of the European financial market.
All of these platforms will be reachable via the Eurosystem Single Market Infrastructure Gateway (ESMIG). The single connectivity gateway to all Target services would provide a simpler and more efficient means to access the key market infrastructures and up to 3 Network Service Providers will be able chosen. The two companies currently going through the approval process are SIA (who were the first to be gain Eurosystem certification for TIPS) and SWIFT.

Other Partners and Announcements:


"Although Crowdz uses the Ethereum blockchain as the foundation for our Invoice Auction Exchange, we have needed a solution that allows for invoices and other documents to be transferred from one blockchain to another — for example, among Hyperledger, Corda, and EOS. With the Overledger solution from Quant Network, it is now possible to pass data among different blockchains. Crowdz looks forward to working with Quant Network to enable the true multi-blockchain environment that our customers demand.” - Payson Johnston, President and CEO of Crowdz

Team:

Incredible team with loads of experience - Gilbert CEO was the Chief Information Security Officer at Vocalink (Mastercard) Gilbert was in charge of Security for the Faster Payments service in the UK which deals with £6 Trillion every year. Previous roles at HSBC, PWC, HSBC, EY, UK Government, HM Treasury and Bank of England.
The most recent addition is the new COO, Cecilia Harvey, who joined from her previous role as Director at HSBC Global Banking and Markets. Cecilia is a Tech Women 100 Winner and also worked at Vocalink, Citi, Barclays, Accenture, IBM and Morgan Stanley
Lots of other experience in the team working for companies such as BT, Nationwide, NHS, Deutsche Bank, KPMG, HMRC, National Crime Agency and Europol
https://www.linkedin.com/search/results/people/?facetCurrentCompany=%5B%2211169903%22%5D

Token Utility

From our original thinking in the whitepaper and business paper, the purpose of QNT has always been multi-purpose. The 1st phase of QNT was to help create an ecosystem of developers and enterprise. The 2nd phase, QNT has been used to verify and the option to sign and encrypt every single transaction that flows through Overledger for security purposes. The 3rd phase of QNT is something we've been working on. It's to be used for the movement of Digital Assets across chains. QNT is a Universal Utility Token, providing access to the Overledger ecosystem and also to be used to pay for transactions and usage across chains. We're also going to enforce mimimum wallet holdings for all participants.This is a market need we're seeing with clients and a tokenised ecosystem is the future we're all working towards. This is something we can do now, where others have been trying to achieve for the last couple of years.We have clients we're working with in financial services that are moving digital assets internally within a permissioned network and want to be able to interoperate with other parties to recognise their digital asset on different internal permissioned chains. Plus they also want to be able to move and settle on public permissionless blockchains safely and securely - Overledger is the only technology that can do this today.
This is a game changer we've been working on. We're bringing blockchain interoperability to the 570 banks that SIA work with.We want users with volume - if we're powering the digital asset economy with QNT this is a game changer in this space. This is what Ripple with XRP, Stellar with XLM and partnering with IBM have been trying to do - Gilbert from Telegram
https://www.quant.network/QUANT_Token_Utility_V0.2.pdf
Quant have released the Quant Enterprise Treasury which allows Enterprises to pay for license fees in FIAT and the treasury automatically converts them into QNT. The treasury gets the tokens from Exchanges / OTC.
QNT has a total supply which is 1/3 less than Bitcoin's total supply at only 14.6 million QNT. Unlike Bitcoin currently you don't have to wait till 2140 for all of the tokens to be in circulation. All QNT is in circulation, there is no inflation and no new tokens will be minted.
Unlike with Ripple where the majority of partnered banks don't actually use XRP, all banks that use Overledger will use QNT. Ripple is valued at $17.7 Billion and 42 Billion XRP are in circulation. There is another 58 Billion XRP which is due to come into circulation via inflation. (If you take that into account at todays prices that's a total market cap of $42 Billion
The other thing to consider is that whilst they may not be popular on here, permissioned blockchains are going to far more widely used over the next couple of years than public blockchains for Enterprises. This is because public blockchains currently lack many features - speed, privacy, as well as regulation involved with being decentralised etc. Thats not to say it won't shift towards public blockchains in the future but not in the next couple of years. (Just have to look at the number of permissioned blockchains being used in Forbes recent blockchain 50 list to see this. Whilst permissioned blockchains don't need Gas and so don't have their own token. Even if enterprises are only using permissioned blockchains to interoperabte between them, they will need QNT.
QNT with all of its token in circulation, no inflation, better tokenomics than many, wide usage in short and long term connecting to permissioned and public blockchains as well as sitll on the 2nd page on Coinmarket cap and hasn't listed on a "Tier 1" exchange yet.

Other:


Would you like to connect your favourite blockchain to Overledger so that you have access to all of these enterprises / developers / clients to use? Well you can and unlike with exchange listings its completely free and open source. Once you have created the connector send it in for approval to connect to Overledger. Join the Quant Network Developer portal to find out more

for a more in depth look at Quant Network please see the following articles:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network enabling mass adoption of blockchain at a rapid pace
submitted by xSeq22x to CryptoCurrency [link] [comments]

Daily analysis of cryptocurrencies 20191010(Market index 41 — Fear state)

Daily analysis of cryptocurrencies 20191010(Market index 41 — Fear state)

https://preview.redd.it/waoxpqkwcpr31.png?width=960&format=png&auto=webp&s=940a66b31f08378194cd275c19fc40fc3af2b8a9
https://preview.redd.it/dura57wwcpr31.png?width=1536&format=png&auto=webp&s=98f3a7e842503c858adea063d9a559a20ae6f624

UK Regulator Ramps Up Crypto Investigations And Considers KYC For Wallets The UK’s Financial Conduct Authority (FCA) has been relentlessly scrutinizing cryptocurrency startups and investigations are up 74% from 2018. Meanwhile, proponents of decentralized software development models and open collaboration are upset about the FCA aiming to extend KYC/AML regulations to the publication of Open source and zero-knowledge software.
Russia’s Central Bank Sees No Obvious Need To Issue National Cryptocurrency Russia’s Central Bank sees no obvious need to issue a national cryptocurrency, said head of the regulator Elvira Nabiullina speaking at the Finopolis forum of innovative financial technologies.
Telegram’s Upcoming GRAM Token Finds Support From Coinbase Custody American cryptocurrency exchange Coinbase seems to be heading towards expansion, following the addition of several cryptocurrencies to its network. In a recent update, the exchange has announced its intention of supporting messaging giant Telegram’s yet-to-be launched cryptocurrency, GRAM.
Alipay Reiterates Noninvolvement In OTC Market Of Cryptocurrency The security center of Alipay reiterated via its Weibo handle on Oct 10 that it would prohibit the use of Alipay in crypto trading on the OTC market. “If any of the trading activities were found to be associated with Bitcoin or other cryptocurrencies, we would stop providing with payment services immediately,” the announcement said. Alipay emphasized it would cancel business accounts involved in crypto trading. Individual accounts using Alipay to trade cryptocurrencies will be suffering from collection limitations either for a certain period of time or permanently depending on the actual circumstances. As previously reported by CoinNess.com, Binance announced the Chinese launch of its P2P trading service, with the slug-line, ‘anything that makes it easier to get crypto.’ Head honcho CZ later confirmed on Twitter the addition of fiat on-ramps via WeChat and Alipay. The claim made by Alipay seems to be a reply to CZ’s announcement about the “upcoming” new feature of fiat on-ramps through Alipay.

Encrypted project calendar(October 10, 2019)

INB/Insight Chain: The Insight Chain (INB) INB public blockchain main network will be launched on October 10. VET/Vechain: VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10. CAPP/Cappasity: Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11). TrueFeedBack (TFB): 10 October 2019 (or earlier) Application Release New version of TFB application and TFB bounty application. Sparkpoint (SRK): 10 October 2019 4rth Quarterly Burn SparkPoint ( SRK) will execute its 4rth quarterly burn on October 10, 2019. Insight Chain (INB): 10 October 2019 Mainnet Launch “The Mainnet for INB Public Blockchain Will be Launched on October 10.” Celer Network (CELR) and 4 others: 10 October 2019 Layer 2 Meetup Osaka “Join us at Layer 2 Meetup for fruitful networking, chilled atmosphere & sushi on October 10, 2019 during the DevCon in Osaka, Japan.” Cappasity (CAPP): 10 October 2019 Global Innovation Forum Cappasity presents at Osaka’s Global Innovation Forum in Osaka. ThoreNext (THX): 10 October 2019 Submission Last Date “$THX #THX Swap #Update Submission Last Date 10–10–2019”

Encrypted project calendar(October 11, 2019)

OKB/OKB: OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.” Aragon (ANT): 11 October 2019 Osaka DAO Party “We are excited to invite you to our @EFDevcon Aragon Dream DAO Party — DAICO Edition in Osaka on the evening of October 11th!” BitTorrent (BTT) and 1 othe: 11 October 2019 Airdrop “On October 11th 00:00 UTC we will initiate our ninth $BTT airdrop and reward TRON $TRX holders with 990,000,000 #BTT!” Zilliqa (ZIL): 11 October 2019 Dev Call “The Aztec Protocol team will be joining our 4th Dev Call this Friday at 2pm EST. We will be having interesting conversations about FOAM (FOAM): 11 October 2019 Osaka Happy Hour “Join FOAM and @3boxdb for a #DevCon Happy Hour in Osaka this Friday at Runway lounge.”

Encrypted project calendar(October 12, 2019)

BTC/Bitcoin: The 2019 Global Mining Leaders Summit will be held in Chengdu, China from October 12th to 14th. BLAST (BLAST): 12 October 2019 (or earlier) Masternode & Assets “Masternode functionality and versionbits signalling for Assets will become active on the BLAST network at block height 1710000.”

Encrypted project calendar(October 14, 2019)

BCH/Bitcoin Cash: The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.

Encrypted project calendar(October 15, 2019)

RUFF/RUFF Token: Ruff will end the three-month early bird program on October 15th KAT/Kambria: Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15. BTC/Bitcoin: The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.

Encrypted project calendar(October 16, 2019)

BTC/Bitcoin: The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th. MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16. ETH/Ethereum: Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades. QTUM/Qtum: Qtum (QTUM) Qtum main network hard fork is scheduled for October 16. (CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM. Binance Coin (BNB): 16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.”

Encrypted project calendar(October 17, 2019)

Holo (HOT): 17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.” IOST (IOST): 17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by @FishChainGame now! The competition only lasts till 17 Oct” Aragon (ANT): 17 October 2019 Seoul Meetup “You are invited to join @licuende for a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’” Skycoin (SKY): 17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM.

Encrypted project calendar(October 18, 2019)

BTC/Bitcoin: The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decision HB/HeartBout: HeartBout (HB) will officially release the Android version of the HeartBout app on October 18. OKB (OKB): 18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.” HeartBout (HB): 18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.” BTU Protocol (BTU): and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…

Encrypted project calendar(October 19, 2019)

PI/PCHAIN Network: The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19. LINK/ChainLink: Diffusion 2019 will be held in Berlin, Germany from October 19th to 20th DeepBrain Chain (DBC): 19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October. General Event (CRYPTO): and 1 other 19 October 2019 Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…” PCHAIN (PI): 19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.” Nash Exchange (NEX): 19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.

Encrypted project calendar(October 20, 2019)

GameCredits (GAME): 20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!

Encrypted project calendar(October 21, 2019)

KNC/Kyber Network: The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.

Encrypted project calendar(October 22, 2019)

ZRX/0x: The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.

Encrypted project calendar(October 23, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.” BTC/Bitcoin: The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.

Encrypted project calendar(October 24, 2019)

BCN/Bytecoin: Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.

Encrypted project calendar(October 25, 2019)

ADA/Cardano: Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.

Encrypted project calendar(October 26, 2019)

KAT/Kambria: Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS. BTC/Bitcoin: CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th

Encrypted project calendar(October 28, 2019)

LTC/Litecoin: Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USA BTC/Bitcoin: Mt.Gox changes the debt compensation plan submission deadline to October 28 ZEC/Zcash: Zcash (ZEC) will activate the Blossom Agreement on October 28th

Encrypted project calendar(October 29, 2019)

BTC/Bitcoin: The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.

Encrypted project calendar(October 30, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”

Encrypted project calendar(November 1, 2019)

INS/Insolar: The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/kwx1zlfzcpr31.png?width=504&format=png&auto=webp&s=95ecc02a02a6b24d8ad27f27ceefec242bc9e065

Yesterday, we saw a minor downside correction in BTC below the $8,200 support area against the US Dollar. We also discussed a possible bounce as long as the price holds the $8,000 support area and the 100 hourly simple moving average. The price did stay above $8,000 and recently started a strong upward move. It is up more than 5% and surpassed the $8,350 resistance. Moreover, there was a break above the key $8,500 resistance area.
A new weekly high was formed near $8,691 and the price is currently consolidating gains. It corrected below the $8,600 level. However, the 23.6% Fib retracement level of the recent rally from the $8124 low to $8,691 high is acting as a decent support. Additionally, there is a short term breakout pattern forming with support near $8,540 on the hourly chart of the BTC/USD pair.
If there is a downside break below the $8,540 and $8,500 support levels, the price could extend its correction. The next key support is near the $8,400 level. Moreover, the 50% Fib retracement level of the recent rally from the $8124 low to $8,691 high is also near the $8,407 level. If there are any additional losses, the price may perhaps test the $8,350 support area (the recent key resistance).
Review previous articles: https://medium.com/@to.liuwen

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With Quant Network's Overledger you can connect your favourite blockchain to potentially 570 banks and lots of developers for FREE using the open source connectors. Spend 5 minutes learning about one of the most undervalued projects there is.

Whilst i'm sure there will be the usual tribalism comments, hopefully those that are able to put their feelings to one side and just spend 5 minutes reading the below, giving an overview of a project that is enhancing blockchain adoption by enterprises - which leads to more funding being put into blockchain, which leads to more developers and ultimately mass adoption.
Quant Network's Overledger is a Blockchain Operating system that currently connects 10 blockchains to provide interoperability as well as connect to networks offchain / oracle services. Below is a more info on their recent big announcement with the largest financial network provider in Europe - SIA as well as other announcements, the team and the token.
Partners and Announcements:
Quant Network recently attended Money 20/20 in Europe where they announced a partnership with SIA.
https://www.sia.eu/en/media-events/news-press-releases/sia-partners-with-quant-network-to-explore-innovative-solutions-in-blockchain-interoperability-for-banks-and-financial
https://www.youtube.com/watch?v=0cNmGrLPoTo&t=7s
So what we’ve done is instead of just announcing one client and one thing, we’re announcing that we’re working with SIA. So, SIA is leading European payment infrastructure. And what we’re doing with SIA is interconnecting blockchain networks with SIA, and doing settlements, which are central bank settlements, with the central bank in Italy. So what Overledger is doing is we’re actually bringing blockchain and interoperability to all of SIA’s clients, which are 580 banks. So, Overledger could be rolled out to all these institutions, financial services, banks, at scale, and have interoperability to get the benefits of this.
Just to make it clear this isn't SIACoin, this is SIA, the largest financial Network provider in Europe. some more info about SIA below:
The Eurosystem (compromises of the European Central Bank (ECB) and 19 National Central banks that are using the Euro such as the central banks of Italy, Germany, France, Spain, Netherlands, Belgium, Ireland etc.) operates the financial market infrastructure for the settlement of payments (TARGET2), TARGET Instant Payment Settlement (TIPS) and securities (TARGET2-Securities, or T2S). These platforms form the backbone of the European financial market.
All of these platforms will be reachable via the Eurosystem Single Market Infrastructure Gateway (ESMIG). The single connectivity gateway to all Target services would provide a simpler and more efficient means to access the key market infrastructures and up to 3 Network Service Providers will be able chosen. The two companies currently going through the approval process are SIA (who were the first to be gain Eurosystem certification for TIPS) and SWIFT.
"Although Crowdz uses the Ethereum blockchain as the foundation for our Invoice Auction Exchange, we have needed a solution that allows for invoices and other documents to be transferred from one blockchain to another — for example, among Hyperledger, Corda, and EOS. With the Overledger solution from Quant Network, it is now possible to pass data among different blockchains. Crowdz looks forward to working with Quant Network to enable the true multi-blockchain environment that our customers demand.” - Payson Johnston, President and CEO of Crowdz
Team:
Incredible team with loads of experience - Gilbert CEO was the Chief Information Security Officer at Vocalink (Mastercard) Gilbert was in charge of Security for the Faster Payments service in the UK which deals with £6 Trillion every year. Previous roles at HSBC, PWC, HSBC, EY, UK Government, HM Treasury and Bank of England.
The most recent addition is the new COO, Cecilia Harvey, who joined from her previous role as Director at HSBC Global Banking and Markets. Cecilia is a Tech Women 100 Winner and also worked at Vocalink, Citi, Barclays, Accenture, IBM and Morgan Stanley
Lots of other experience in the team working for companies such as BT, Nationwide, NHS, Deutsche Bank, KPMG, HMRC, National Crime Agency and Europol
https://www.linkedin.com/search/results/people/?facetCurrentCompany=%5B%2211169903%22%5D
Token Utility
From our original thinking in the whitepaper and business paper, the purpose of QNT has always been multi-purpose. The 1st phase of QNT was to help create an ecosystem of developers and enterprise. The 2nd phase, QNT has been used to verify and the option to sign and encrypt every single transaction that flows through Overledger for security purposes. The 3rd phase of QNT is something we've been working on. It's to be used for the movement of Digital Assets across chains. QNT is a Universal Utility Token, providing access to the Overledger ecosystem and also to be used to pay for transactions and usage across chains. We're also going to enforce mimimum wallet holdings for all participants. This is a market need we're seeing with clients and a tokenised ecosystem is the future we're all working towards. This is something we can do now, where others have been trying to achieve for the last couple of years. We have clients we're working with in financial services that are moving digital assets internally within a permissioned network and want to be able to interoperate with other parties to recognise their digital asset on different internal permissioned chains. Plus they also want to be able to move and settle on public permissionless blockchains safely and securely - Overledger is the only technology that can do this today.
This is a game changer we've been working on. We're bringing blockchain interoperability to the 570 banks that SIA work with. We want users with volume - if we're powering the digital asset economy with QNT this is a game changer in this space. This is what Ripple with XRP, Stellar with XLM and partnering with IBM have been trying to do - Gilbert from Telegram
https://www.quant.network/QUANT_Token_Utility_V0.2.pdf
QNT is used to validate with the option to sign and encrypt every transaction that flows through Overledger. No Transactions can
No 3rd Party can view or tamper with transactions and their contents, including Quant when signed and encrypted
Enterprises and community developers need to purchase an annual license to develop apps on the platform
Consumption fees such as read / write to overledger are paid in QNT
Moving of digital assets across chains whether permissioned or permissionless will require QNT
The license fees are based on a fixed FIAT Value and the equivilant number of QNT are purchased and taken out of circulation for 12 months.
Once the license is renewed after 12 months the tokens remain locked out of circulation
Users will need to hold a minimum amount of QNT to use Overledger.
Quant have released the Quant Enterprise Treasury which allows Enterprises to pay for license fees in FIAT and the treasury automatically converts them into QNT. The treasury gets the tokens from Exchanges / OTC.
QNT has a total supply which is 1/3 less than Bitcoin's total supply at only 14.6 million QNT. Unlike Bitcoin currently you don't have to wait till 2140 for all of the tokens to be in circulation. All QNT is in circulation, there is no inflation and no new tokens will be minted.
Unlike with Ripple where the majority of partnered banks don't actually use XRP, all banks that use Overledger will use QNT. Ripple is valued at $17.7 Billion and 42 Billion XRP are in circulation. There is another 58 Billion XRP which is due to come into circulation via inflation. (If you take that into account at todays prices that's a total market cap of $42 Billion
ATOM (The token for the Cosmos Hub) is only used for staking and transactions for the Cosmos hub and not the entire Cosmos ecosystem. There will be many hubs each with their own token. Cosmos interoperability protocol IBC is still in reasearch phase and can't connect the hub to zones within the cosmos ecosystem). Also to encourage staking it is designed to be hyperinflationary by having a yearly inflation of between 7 and 20%. This makes ATOM a depreciating asset and to combat this you need to stake your ATOM (which you receive more ATOM as a reward for the loss of value per token). Another way to look at it is if the Market cap stayed the same at £1 Billion over 10 years the value of each ATOM would drop from £4.23 to £0.68 (-83.92%).
The other thing to consider is that whilst they may not be popular on here, permissioned blockchains are going to far more widely used over the next couple of years than public blockchains for Enterprises. This is because public blockchains currently lack many features - speed, privacy, as well as regulation involved with being decentralised etc. Thats not to say it won't shift towards public blockchains in the future but not in the next couple of years. (Just have to look at the number of permissioned blockchains being used in Forbes recent blockchain 50 list to see this. Whilst permissioned blockchains don't need Gas and so don't have their own token. Even if enterprises are only using permissioned blockchains to interoperabte between them, they will need QNT.
QNT with all of its token in circulation, no inflation, better tokenomics than many, wide usage in short and long term connecting to permissioned and public blockchains as well as sitll on the 2nd page on Coinmarket cap and hasn't listed on a "Tier 1" exchange yet.
Other:
Would you like to connect your favourite blockchain to Overledger so that you have access to all of these enterprises / developers / clients to use? Well you can and unlike with exchange listings its completely free and open source. Once you have created the connector send it in for approval to connect to Overledger. Join the Quant Network Developer portal to find out more, submit
for a more in depth look at Quant Network please see the following articles:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network enabling mass adoption of blockchain at a rapid pace
submitted by xSeq22x to CryptoMoonShots [link] [comments]

Quant Network Partner with the largest Financial Network Provider in Europe, SIA, bringing Overledger to SIA's 570 Banks and Trading venues as clients. Quant Network are also working with the Central Bank of Italy for settlements

Quant Network recently attended Money 20/20 in Europe where they announced a partnership with SIA.
https://www.sia.eu/en/media-events/news-press-releases/sia-partners-with-quant-network-to-explore-innovative-solutions-in-blockchain-interoperability-for-banks-and-financial
So what we’ve done is instead of just announcing one client and one thing, we’re announcing that we’re working with SIA. So, SIA is leading European payment infrastructure. And what we’re doing with SIA is interconnecting blockchain networks with SIA, and doing settlements, which are central bank settlements, with the central bank in Italy. So what Overledger is doing is we’re actually bringing blockchain and interoperability to all of SIA’s clients, which are 580 banks. So, Overledger could be rolled out to all these institutions, financial services, banks, at scale, and have interoperability to get the benefits of this.
https://www.youtube.com/watch?v=0cNmGrLPoTo&t=7s

Just to make it clear this isn't SIACoin, this is SIA, the largest financial Network provider in Europe. some more info about SIA below:

The Eurosystem (compromises of the European Central Bank (ECB) and 19 National Central banks that are using the Euro such as the central banks of Italy, Germany, France, Spain, Netherlands, Belgium, Ireland etc.) operates the financial market infrastructure for the settlement of payments (TARGET2), TARGET Instant Payment Settlement (TIPS) and securities (TARGET2-Securities, or T2S). These platforms form the backbone of the European financial market.
All of these platforms will be reachable via the Eurosystem Single Market Infrastructure Gateway (ESMIG). The single connectivity gateway to all Target services would provide a simpler and more efficient means to access the key market infrastructures and up to 3 Network Service Providers will be able chosen. The two companies currently going through the approval process are SIA (who were the first to be gain Eurosystem certification for TIPS) and SWIFT.

Other Partners and Announcements:

"Although Crowdz uses the Ethereum blockchain as the foundation for our Invoice Auction Exchange, we have needed a solution that allows for invoices and other documents to be transferred from one blockchain to another — for example, among Hyperledger, Corda, and EOS. With the Overledger solution from Quant Network, it is now possible to pass data among different blockchains. Crowdz looks forward to working with Quant Network to enable the true multi-blockchain environment that our customers demand.” - Payson Johnston, President and CEO of Crowdz

Team:

Incredible team with loads of experience - Gilbert CEO was the Chief Information Security Officer at Vocalink (Mastercard) Gilbert was in charge of Security for the Faster Payments service in the UK which deals with £6 Trillion every year. Previous roles at HSBC, PWC, HSBC, EY, UK Government, HM Treasury and Bank of England.
The most recent addition is the new COO, Cecilia Harvey, who joined from her previous role as Director at HSBC Global Banking and Markets. Cecilia is a Tech Women 100 Winner and also worked at Vocalink, Citi, Barclays, Accenture, IBM and Morgan Stanley
Lots of other experience in the team working for companies such as BT, Nationwide, NHS, Deutsche Bank, KPMG, HMRC, National Crime Agency and Europol
https://www.linkedin.com/search/results/people/?facetCurrentCompany=%5B%2211169903%22%5D

Token Utility

From our original thinking in the whitepaper and business paper, the purpose of QNT has always been multi-purpose. The 1st phase of QNT was to help create an ecosystem of developers and enterprise. The 2nd phase, QNT has been used to verify and the option to sign and encrypt every single transaction that flows through Overledger for security purposes. The 3rd phase of QNT is something we've been working on. It's to be used for the movement of Digital Assets across chains. QNT is a Universal Utility Token, providing access to the Overledger ecosystem and also to be used to pay for transactions and usage across chains. We're also going to enforce mimimum wallet holdings for all participants. This is a market need we're seeing with clients and a tokenised ecosystem is the future we're all working towards. This is something we can do now, where others have been trying to achieve for the last couple of years. We have clients we're working with in financial services that are moving digital assets internally within a permissioned network and want to be able to interoperate with other parties to recognise their digital asset on different internal permissioned chains. Plus they also want to be able to move and settle on public permissionless blockchains safely and securely - Overledger is the only technology that can do this today. This is a game changer we've been working on. We're bringing blockchain interoperability to the 570 banks that SIA work with. We want users with volume - if we're powering the digital asset economy with QNT this is a game changer in this space. This is what Ripple with XRP, Stellar with XLM and partnering with IBM have been trying to do - Gilbert from Telegram
https://www.quant.network/QUANT_Token_Utility_V0.2.pdf
Quant have released the Quant Enterprise Treasury which allows Enterprises to pay for license fees in FIAT and the treasury automatically converts them into QNT. The treasury gets the tokens from Exchanges / OTC.
QNT has a total supply which is 1/3 less than Bitcoin's total supply at only 14.6 million QNT. Unlike Bitcoin currently you don't have to wait till 2140 for all of the tokens to be in circulation. All QNT is in circulation, there is no inflation and no new tokens will be minted.
Unlike with Ripple where the majority of partnered banks don't actually use XRP, all banks that use Overledger will use QNT. Ripple is valued at $17.7 Billion and 42 Billion XRP are in circulation. There is another 58 Billion XRP which is due to come into circulation via inflation. (If you take that into account at todays prices that's a total market cap of $42 Billion
ATOM (The token for the Cosmos Hub) is only used for staking and transactions for the Cosmos hub and not the entire Cosmos ecosystem. There will be many hubs each with their own token. Cosmos interoperability protocol IBC is still in reasearch phase and can't connect the hub to zones within the cosmos ecosystem). Also to encourage staking it is designed to be hyperinflationary by having a yearly inflation of between 7 and 20%. This makes ATOM a depreciating asset and to combat this you need to stake your ATOM (which you receive more ATOM as a reward for the loss of value per token). Another way to look at it is if the Market cap stayed the same at £1 Billion over 10 years the value of each ATOM would drop from £4.23 to £0.68 (-83.92%).
The other thing to consider is that whilst they may not be popular on here, permissioned blockchains are going to far more widely used over the next couple of years than public blockchains for Enterprises. This is because public blockchains currently lack many features - speed, privacy, as well as regulation involved with being decentralised etc. Thats not to say it won't shift towards public blockchains in the future but not in the next couple of years. (Just have to look at the number of permissioned blockchains being used in Forbes recent blockchain 50 list to see this. Whilst permissioned blockchains don't need Gas and so don't have their own token. Even if enterprises are only using permissioned blockchains to interoperabte between them, they will need QNT.

QNT with all of its token in circulation, no inflation, better tokenomics than many, wide usage in short and long term connecting to permissioned and public blockchains as well as sitll on the 2nd page on Coinmarket cap and hasn't listed on a "Tier 1" exchange yet.

Other:


Would you like to connect your favourite blockchain to Overledger so that you have access to all of these enterprises / developers / clients to use? Well you can and unlike with exchange listings its completely free and open source. Once you have created the connector send it in for approval to connect to Overledger. Join the Quant Network Developer portal to find out more, submit

for a more in depth look at Quant Network please see the following articles:
Part One — Blockchain Fundamentals
Part Two — The Layers Of Overledger
Part Three — TrustTag and the Tokenisation of data
Part Four — Features Overledger provides to MAPPs
Part Five — Creating the Standards for Interoperability
Part Six — The Team behind Overledger and Partners
Part Seven — The QNT Token
Part Eight — Enabling Enterprise Mass Adoption
Quant Network enabling mass adoption of blockchain at a rapid pace
submitted by xSeq22x to QuantNetwork [link] [comments]

If Libra fails, China wins—The Ledger

If it once seemed possible, among crypto-enthusiasts, for a currency to exist outside the reaches of a central government authority, U.S. regulators did their best last week to stamp out such beliefs.
U.S. officials not only succeeded in dealing Facebook’s Libra cryptocurrency project a $1 trillion blow (the combined market cap of the seven major companies that have dropped out) after U.S. Senators sent letters urging their CEOs to “be extremely cautious about moving ahead with a project that will foreseeably fuel the growth in global criminal activity.”
Regulators at the U.S. Securities and Exchange Commission also temporarily froze messaging app Telegram’s $1.7 billion digital token sale, at least temporarily—through the use of an emergency restraining order on Friday.
And now, some of Silicon Valley’s most respected technology analysts are warning that even if the U.S. wins its latest anti-cryptocurrency crusade, it could end up losing in the long run—to China.
After Facebook announced Libra in June, China’s central bank accelerated the development of its own cryptocurrency, RBC Capital Markets analysts pointed out in a report Tuesday. “If U.S. regulators ultimately dismiss Libra and decide not to draft regulation to encourage crypto innovation in the U.S., China’s central bank digital currency may be strategically positioned to become the de facto global digital currency in emerging economies,” they wrote.
The key, according to the analysts: Chinese messaging and payment apps such as AliPay and WeChat would serve as conduits for the adoption of China’s digital currency, as they “represent the greatest opportunity to onboard consumers to digital wallets.”
Indeed, the vision Facebook laid out in a white paper for its cryptocurrency described Libra as a way to turn messaging apps like its own Facebook Messenger (with some 1.3 billion users) into an easy payment platform: “Just as people can use their phones to message friends anywhere in the world today, with Libra, the same can be done with money — instantly, securely, and at low cost,” according to the paper.
Meanwhile, Telegram, whose encrypted messaging app has some 200 million users, sold $1.7 billion worth of “Gram” tokens on a similar premise that they could be transferred through the app. U.S. regulators have so far objected just to the method by which the tokens were sold—the SEC alleges it was an unregistered and illegal sale of securities—as opposed to their proposed usage. But the crackdown threatens the future of the Gram project itself.
RBC’s analysts didn’t specifically discuss the SEC action against Telegram in their report. But it stands to reason that abolishing or delaying Telegram’s cryptocurrency further clears the way for China to dominate in message-based digital payments.
That’s probably not the outcome the U.S. government desires: At a time when the Trump administration is waging a trade war with China using tariffs to maintain the upper hand, China’s digital currency could potentially upend the foreign exchange dynamics entirely, circumventing American control.
The RBC analysts hint it might behoove U.S. government officials to work with Libra, rather than against it—and welcome its corporate partners back into the fold: “If a clear regulatory roadmap is developed and Libra launches successfully, we would not be surprised to see these firms reapply to the association,” they wrote.
If American regulators are really playing the long game with China and the global innovation race, perhaps they shouldn’t dismiss Libra so quickly.
Jen Wieczner |@jenwieczner | [email protected]
* More Details Here
submitted by acerod1 to Business_Analyst [link] [comments]

Beginners Introduction Guide for Pundi X

Beginners Introduction Guide for Pundi X
https://pundix.com


https://i.redd.it/ad9tfd3rjpi21.jpg

Executive Summary;


Pundi X’s mission is to make buying crypto currency as easy as buying bottled water. As the Walmart and 7-Eleven of crypto currency, we want users to buy and use crypto currency anytime anywhere.
Pundi X a leading Singaporean-based blockchain company recently ranked by KPMG as one of the world’s “Emerging 50” firms that are at the forefront of innovative technologies and practices in its 2018 Fintech100 report of Leading Global Fintech Innovators.
We have a product poised for mass adoption infrastructure, where consumers can buy and sell crypto at any participating retailer and spend their crypto.
For every transaction, through the XPOS (which is a point of sales) machine, there will be a token burn coming. Token burns mean reduced supply over time. The more machines in outlets and more people using crypto means supply will decrease, therefore the demand will increase. Pundi X will not be an erc20 token for long, Pundi X is creating its own blockchain called the f(x) blockchain.


https://i.redd.it/z3mp6tfp1qi21.jpg
- Instant transactions worldwide 24/7.
- No monthly charges or any hidden fees.
- Merchants will receive revenue back, a whopping 65% from the total transaction fee, on every single Crypto related transactions.
- Consumers can readily buy/sell Crypto currencies straight from the actual XPOS device.
- No Banks needed, hence serving the un-banked and the under-banked population.
- Merchants can receive payment in their local fiat to avoid Crypto fluctuations.
- Supports Mobile payments, NFC, QR Code and all current traditional payments.
- The POS can setup your inventory, loyalty programs, ads, and print smart receipts.
- Avoid high Visa/MasterCard/Credit Card fees using XPOS solutions.

Statistics;


- 5,500 XPOS Dispatched already to 25 countries.
- Tested over a two day period in the Historical first ever crypto mass event with "Ultra Taiwan Music Festival" with 30,000 + attendees, went flawlessly, (see videos on Pundix Official YouTube Channel).
- 7,000 More XPOS going out soon.
- 300,000 XPASS dispatched.
- 60,000 + Transactions over the XPOS.
- 20 + Top Crypto Exchanges.
- 45 + Events attended.
- 150 + Team members.
- 7 Head Offices globally.

Function X Blockchain – A game Changer:



https://i.redd.it/5ibzoexntpi21.jpg

The f(x) (short for Function X) blockchain under current test environments, each XPOS is an f(x) node; all data from the XPOS will be fully encrypted and stored in f(x) low level IPFS. Our IPFS is one that is specially designed for XPOS, f(x) and other smart devices. The f(x) public ledger will record all transactions, and the chain deploys sharding and PBFT.
At Pundi X, we believe that open source is the way to go and to strengthen the blockchain community. We will gradually enable all of our operating system and f(x) chain’s code to be open source. It will be free for all Dapp software and hardware manufacturers to develop products for the f(x) ecosystem, hence achieving true decentralization. Let’s all work together and re-engineer a decentralized world.

10x for Speed;
Visa can run 7,000–20,000 transactions-per-second (“TPS”). Any blockchain that offers small multiples of speed improvement is unlikely to displaced a tried-and-tested system like Visa. A 10X increase means 200,000K TPS has to be achieved.
Our upcoming blockchain called Function X (fx for short), we have to make sure we are comparable if not faster, at 10X it is at least 200,000 TPS, not just on paper, but in real application.
Sharding depends heavily on the availability of nodes. Confirmation processes increase by an order of magnitude when you increase node counts, we are already deploying the XPOS which will act as nodes.

10x for Scaling;
Scalability in a restaurant means how fast can you serve your meals, the faster you can scale, the more business you can have. Therefore, companies like McDonald’s spend a lot of effort shortening the time between ordering and checkout to serve its customers.
Scalability in blockchain is similar: it depends on the code (how fast can the burgers be flipped) and also nodes (how many cashiers can confirm the order). So whose code is the best? We will only know when proven. And what about nodes? The blockchain with the largest nodes will prevail. Currently Ethereum has the most nodes, but maybe not for long.

10x for Consensus;
And what about nodes? The blockchain with the largest nodes will prevail. Currently Ethereum has the most nodes, but maybe not for long.
With our minimum plan to roll out 100,000 XPOS in three years, we will be able to scale up transaction numbers significantly as the number of XPOS devices increases.
Can we do much more than 200,000 TPS? Let’s analyze: Sharding is a process of dividing a global network into pieces of a local network.
Each local network would then take charge of two-thirds consensus so that a particular transaction is verified in the local network and then broadcast to the global network.

Five Pillars of Function X Blockchain;

  1. Fx Operation System - (ROM) Android-modified blockchain-enabled operating system. Users can switch seamlessly between fx blockchain and regular everyday android mode.
  2. FXTP - (Web Protocol). Decentralized transmission protocol (P2P) and similar to https.
  3. Docker - Open Source platform for developers to build, ship, and run distributed applications (DApps).
  4. IPFS - Storage of various contents.
  5. Public Blockchain - A High performance and secure public blockchain.

More details here;
The Road ahead: https://medium.com/pundix/f-x-%EC%95%9E%EC%9C%BC%EB%A1%9C-%EA%B0%80%EC%95%BC%ED%95%A0-%EA%B8%B8-cb258f0e397c

The XPhone;


The XPhone, and the first true blockchain phone call, we demonstrated to thousands that we had a new protocol for communication that could take blockchain beyond the world of financial transfers. The X phone is powered by Function X OS which is based off the Android OS 9.0, so there is a backward compatibility with any Android apps.
Blockchain-based calling and messaging can be toggled on and off on the phone operating system, which builds upon Android 9.0.
On the blockchain mode, the services in the XPhone can operate completely independently of centralized carriers. Users can route phone calls, messages, and data via blockchain nodes without the need for centralized service providers.
The XPhone is in fact the first mobile phone that can run completely on a decentralized ecosystem powering telephony, messaging, and data transmission. The XPhone itself significantly expands the use of blockchain technology beyond financial transfers.
Every XPhone is also a node on the network to contribute to the operation of the blockchain ecosystem. Content and connectivity are organized in a distributed, node-to-node manner.
https://i.redd.it/ne3iufycqqi21.png

- Every device in the Function X ecosystem will be a node and each will have its own address and private key, uniquely linked to their node names, not unlike traditional URL and IP addresses.

- The OS can be overlayed to any existing Android devices without any compromises and compliment as a node to the function X blockchain.

- Using a new DApp published on Function X, Zac hailed a New York City cabbie from midtown Manhattan to Central Park via a smart contract executed on Function X. The taxi order was both conducted and recorded on-chain and by-passing any ride-hailing service via XPhone.

- In the browser, you may browse the traditional Internet via HTTP or use the blockchain Internet via FXTP.

- In f(x) OS, users are able to switch seamlessly between two modes. The blockchain mode allows a user to be connected to the blockchain - everything which you do in this mode like texting, calling, taking photos, browsing, etc. will be transmitted via the blockchain. In the traditional mode, it is like any other Android phone.

- You can develop DApps for X Play Store and regular apps for Google Play Store.
Note: Final design and specs are subject to change.

The FX blockchain: Giving data control back to users and creators.
“What this all means is that data control can and must be given back to users,” said Pundi X Founder and CEO Zac Cheah.

“Telecommunications and Internet companies have derived tremendous value from controlling data. By decentralizing apps, we can put this data onto a smart contract, effectively giving control back to creators and to users”.

“Much of what we call peer-to-peer or ‘decentralized’ services continue to be built upon centralized networks. We are changing that,” added Cheah.

Mobile devices as nodes;

“Scalability in blockchain is derived from the number and geographic spread of nodes. It is clear how achieving a critical mass in terms of scale will require something with a high utility for people. The XPhone thus has the potential to establish a large global pool of nodes,” said Pitt Huang, co-founder and CTO of Pundi X.

“And with Function X offering people the choice to be independent of a centralized communications network we’ve created a new use, a high and universal utility for blockchain. In turn, this will give life to a network large enough to support better scale, throughput, and new potential applications, plus true decentralization that has so far eluded blockchain.”

YouTube in-depth close up videos;
  1. Introduction to XPhone - Part 1 of 6
  2. Bringing Function X to life with the XPhone - Part 2 of 6
  3. Setting XPhone up as a Node - Part 3 of 6
  4. Using the XPhone to manage your files and browse the web - Part 4 of 6
  5. Blockchain-based text messaging on the XPhone - Part 5 of 6
  6. Blockchain Call on the XPhone - Part 6 of 6

More details here;
Website; https://functionx.io
https://medium.com/functionx/xphone-mwc19-new-design-and-specifications-including-the-x-button-announced-1c720b04f660

All Partnerships (so far):


Major Partners:
-American Chamber of Commerce Korea, AMCHAM is the largest foreign chamber in Korea with around 1,800 individual members from almost 900 member companies with diverse interests and substantial participation in the Korean economy.
Their partners includes, MacDonald’s, Star Bucks, Hyundai, United Airlines, Citi, Hawaiian Airlines, MetLife, Ford, Honeywell, Johnson & Johnson, Bayer, Cisco, HUB, Nike, Oracle, Kelly, Philip Morris, Hyosung, Cigna, Kim & Change, Pfizer Korea, and many more, see link below;
http://www.amchamkorea.org/?ckattempt=3

-Ebooc (Government UEA) Ebooc and Pundi X will provide several other applications for consumers such as making retail payments; paying for government services, fees and fines; utilities and bills; telecommunication bills and school fees on POS devices running a stable, digital equivalent of traditional fiat currencies in the region.
The move brings our world-leading, blockchain-based XPOS technology, XPASS card and e-wallet to the Gulf, Middle East and North Africa region for the first time with Ebooc as the official partner under the terms of a strategic partnership agreement as executed.
Additional Back information about the Founder of Ebooc: Entrepreneur & Senior UAE Government Official with deep Government experience of over 20 years. From his current role as Assistant Undersecretary, Industrial Development Sector at Ministry of Economy, UAE, Abdalla has been able
to participate in policy-making and planning strategy for ministry of Economy and oversee the operations and major projects within the industrial sector.
Developing action plans and programs for the industrial sector, overall supervision of the industrial licenses issued by the ministry, General supervision of Institutions Support Department, which specializes in conducting necessary studies for the development of industrial exports.
Regulations and specifications of Foreign Affairs in coordination with stakeholders Prior to this was the CEO strategic planning & affairs at Emirates Post Group was on the Board of Directors of Wall Street Exchange Chairman of the Executive Committee ; Vice Chairman of the Emirates Marketing & Promotion Corp. Board Member of the Emirates Courier Services – Empost.
https://medium.com/pundix/ann-pundi-x-technology-to-debut-in-the-gulf-and-middle-east-5b7651b4bd14

-NEM, (Deal to deploy additional 20k XPOS units) A commitment to use NEM's blockchain technology to produce 20,000 of the world's first NEM-based POS terminals, called NEM XPOS.
To foster this project, we completed a private allocation totalling US $ 17 million (USD) on April 5, 2018. The fund will be used for technical integration and production of at least 20,000 XPOS NEMs over a three-year period.
https://medium.com/pundix/aloca%C3%A7%C3%A3o-privada-de-17m-usd-%C3%A9-conclu%C3%ADda-para-o-nem-xpos-5a7074b39b5c

-Ubivelox, they have become an international innovator in the development of smart cards, mobile communications and blockchain (ranked 6th largest in the world). The two companies will work together on XPOS and XPASS technology development, security and market deployment, which will not only facilitate the promotion of Pundi X in Korea, but also help accelerate the layout in the global market.
https://medium.com/pundix/%E9%9F%A9%E5%9B%BD%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8ubivelox%E4%B8%8Epundi-x%E5%BB%BA%E7%AB%8B%E6%88%98%E7%95%A5%E5%90%88%E4%BD%9C%E4%BC%99%E4%BC%B4%E5%85%B3%E7%B3%BB-91f3665f0ae9

-QEX Fund SP; At Consensus: Invest 2018 in New York, we introduced the QEX fund in partnership with Quantum Energy Asset Management (QEAM). QEAM & R.E. Lee International Capital unveil $100 million fintech-focused hybrid fund, QEX Fund SP.
Vic has over three decades of experience in banking and securities, including as the former Chief Operating Officer, Asia Pacific, for Global Transaction Services at Bank of America Merrill Lynch, and as the former Chief Risk Officer at Hong Kong Exchanges and Clearing.
“The combined expertise of QEAM, R.E. Lee International Capital and Pundi X provides a differentiated offering and a strong edge, amplifying the unique proposition of traditional finance and technological expertise in fintech and emerging innovative technologies such as blockchain,” said Mr. Tham. “It is rare to bring together a team that has decades of experience in fund management, securities, banking and also emerging fintech and blockchain technology all under one roof.”
R.E. Lee International Capital Pte. Ltd. QEX Fund SP is targeting a USD $100 million fund size with a minimum subscription of USD $300,000 and is available to non-US accredited investors from today. For further information, please email to;
[[email protected]](mailto:[email protected])

https://medium.com/pundix/pundi-x-announces-qex-fund-in-partnership-with-quantum-energy-asset-management-to-grow-the-247b473d96a5

The F(x) Coin;


The f(x) ecosystem is fully decentralized. It’s designed and built to run autonomously in perpetuity without the reliance or supervision of any individual or organization.
To support this autonomous structure, f(x) Coin which is the underlying ‘currency’ within the f(x) ecosystem has to be decentralized in terms of its distribution, allocation, control, circulation and the way it’s being generated.

https://i.redd.it/scikiwyj7qj21.jpg

Broadly, there are four main participants in the f(x) ecosystem, as shown above:
  • Consumer: Users enjoy the decentralized service provided by the f(x) ecosystem.

  • Infrastructure Service Provider: Providing infrastructure service like the ones provided by mobile carrier, Amazon AWS but in a decentralized way.

  • Developer: Building DApp upon f(x) network like Uber, AirBnb, Alibaba.

  • Financial Service Provider: Providing liquidity of f(x) coin like NASDAQ, Morgan Stanley.

Infrastructure service provider, Developer and Financial service provider contribute the seamless operation and service shall generate the positive circulation, innovation and value flow to the f(x) ecosystem.

The value flow of the Function X ecosystem;
  • Infrastructure service provider can offer the service, such as Blockchain, FXTP, DDocker and IPFS to earn f(x) Coin.

  • Developer can build applications upon f(x) OS to earn f(x) Coin and at the same time they need to pay for the infrastructure service.

  • Consumer enjoys the service and pays for the service in f(x) Coin.

  • Developer and infrastructure service provider shall earn f(x) Coin in return by providing their service and they can liquidate it through the financial service provider to earn some profit.

Together, these four participants will create a positive value flow. More service providers will enhance the quality of service and attract more consumers. More consumers will bring more value to the ecosystem by attracting more service providers,and creating f(x) Coin liquidity.
Deep liquidity of f(x) Coin will attract more financial service providers to enhance the stability and quality of liquidity. This will attract more service providers to the ecosystem.

Utility of f(x) Coin;


f(x) Coin is the native ‘currency’ of the Function X blockchain and ecosystem. Services rendered in the ecosystem will be transacted with the f(x) Coin. Possible scenarios include:
  • For service providers: To get paid by developers, companies and consumers for providing storage nodes, DDocker and speeding up of network connections. The role of service providers will described in other sections.

  • For consumers: To pay service fees for using DApps, nodes, network resources, storage solutions and other services within the f(x) ecosystem.

  • For developers: To pay for services and resources rendered in the ecosystem such as smart contract creation, file storage (paid to IPFS service provider), code hosting (paid to DDocker service provider), advertisements (paid to other developers) and others. To get paid by the enterprises or organizations which require the developer’s service.

  • For enterprises or organizations: To pay for service fees, developer fees and advertisements. Services provided to consumers will be charged and denominated in f(x) Coin.

  • For phone and hardware manufacturers: To pay for the Function X Operating System customization. Note: we plan to only build a few thousands of the XPhone flagship handsets and leave the rest to third-party manufacturers to build more using our operating system.

  • For financial institutions: to receive payment for financial services rendered for the ecosystem.

  • Many more future scenarios.

https://i.redd.it/r7626yle8qi21.png
Hence f(x) Coin can be used as ‘currency’ for the below services,
  • In-app purchases
  • Blockchain calls
  • Smart contract creations
  • Transaction fees
  • Advertisements
  • Hosting fees

Updated fx article:
https://medium.com/functionx/f-x-ecosystem-and-tokenomics-explained-ee026ce6815

Payment solutions;


Visa, MasterCard, Apple Pay, Samsung, American Express, BNB, LTC, XVG, NPXS, E2Pay.co.Id, Alipay, M-bayar, Go Pay, WeChat, Xpos Consortium, Ubivelox, XPOT and many more.
Distributors;
Manticora Capital, Bit Captial, Ubivelox, BlockPay and more to follow.
Blockchain;
NEM, UTrust, GGOX, Verime, Wanchain, Stella, Genaro Network. More to follow.

Why Pundi XPOS;


Pundi XPOS not only facilitates cryptocurrency payment or transactions but also accepts transactions through mobile wallets and traditional bank cards.
Our POS solution can support retail intelligence, inventory management, order management, marketing and loyalty programs. Pundi XPOS device is an all-in-one solution for retailers.
https://i.redd.it/qj6sbsfaeqi21.jpg
· Accept cryptocurrency as payment
· Intelligence clearing system to increase the value of the store properties
· Selling and buying crypto currencies
· Support BTC, ETH, NPXS, BNB, XEM, QTUM, XVG, ACT, LTC, DGD, XLM and more crypto currencies.
· Support cryptocurrency payment card, such as Pundi XPASS card.
· Support mobile payment apps, such as Alipay, Visa, Mastercard, ApplePay, E2Pay, Go-Pay, Pundi-Pundi, and WeChat Pay.
· Support cryptocurrency wallet payment, such as Qbao, X Wallet, Nem Wallet and more.
· Establish credit history and reduce financial risks
· Provide a gateway for financial service providers
· Support loyalty / membership management system
· Support promotional and NPXS reward system
· Support 3rd party delivery and logistic service providers

Additional factors;
- Instant Transactions - XPOS transactions happen instantly at less than 0.5 seconds. No delays. Just pay and go.

- Fiat Settlement without Volatility - To avoid any volatility risk, merchants will receive their settlement in fiat money.

- Work Easily With XPASS & XWallet - The XPASS card is an easy-to-use tap card for crypto beginners. Top it up with your preferred cryptocurrency and pay with ease. You can also pair your XPASS card onto the XWallet mobile app and use it with the XPOS.

- Support Multiple Cryptocurrencies - The XPOS is cryptocurrency-neutral, so you can transact with your favorite coins or tokens like BTC, ETH, BNB, NPXS, etc.

- Buy Cryptocurrency With Ease - In addition to making payment, customers can purchase cryptocurrency like Bitcoin from the XPOS with ease. The experience is as easy as buying a cup of coffee.

- Merchants get back 0.65% of the total fee for every crypto transactions.

Please see the Medium reports for more details on all developments to date: https://medium.com/@PundiXLabs

XPOS Order Form;
https://goo.gl/forms/yxSRHlK99h3xHF3N2
XPASS Card Order Form;
https://forms.monday.com/forms/088c80c8f7e4f1ba13816312097ddcd3


XWallet;


The XWallet mobile app connects regular digital asset wallets with the Pundi X payment ecosystem. It allows users to easily make payments in physical stores via the XPOS & e-commerce using our "Collect" feature of the app.

https://i.redd.it/j5kcce6vtqi21.jpg

The XWallet can also be paired with the XPASS, making it a digital payment app that can be used anytime, anywhere. To download App for Android or ISO see below and to see a built-in guide for merchants and users guide are within the actual XWallet App or here:
https://xwallet.pundix.com/

Merchants Collect Feature (e-commerce);


1. Submit an XWallet Merchant application via the app and once the application gets approved, then your “Collect” page would be marked with “Pundi X verified merchant”.
2. You can open the XWallet app, then show the QR code on “Collect” page for customers to scan and pay;
3. You can also tap “Save” on “Collect” page to download your QR code as a picture, print it out, and place it by the checkstand for customers to scan and pay. This would be a more convenient way to collect payments.
4. Collected cryptocurrency assets would go directly to the XWallet Merchant’s Virtual Card account.

My actual QR code, scan to see UI on XWallet.

This is a powerful tool for e-commerce's to upload their QR Code on websites payout section. Sending any supported currencies on the X Wallet is accepted by one single QR Code, such as the above.

XPass Cards;


You can easily manage your digital assets, check your current balance, or top-up in the XWallet. By default, each user will have a virtual XPASS card in the app. You can also pair your XWallet with your Pundi XPASS card to make payments directly from the app when needed.
If you lose the XPASS card, you can transfer all your tokens from the XPASS card to the XWallet app or to another XPASS card.

https://i.redd.it/g0fcksz3oqi21.jpg

Instant Payments Online or Offline;


Transactions via an internet-connected XWallet or XPASS can be processed immediately, while offline transactions can be made by scanning the QR code, which will later be uploaded onto the blockchain. The XWallet, in short, keeps up with your busy lifestyle.

How to top up your XWallet from other wallets;
  • Select the ‘Card’ icon and choose the virtual card.
  • Select the type of currency you want to top up.
  • Tap on the ‘Receive’ icon and choose ‘View address’.
  • Copy the top-up address or scan the QR code.
  • On your other wallet, choose the correct type of cryptocurrency and insert the XWallet top-up address to make the transfer.
(Note: The speed of transferring tokens from other wallets to the XWallet app varies, depending on their relevant blockchain network conditions. To make instant payment transaction at any XPOS merchant, we recommend users top up their XWallet account from other wallets at least 6 hours before using the app.).

XPASS Card Order;
https://forms.monday.com/forms/088c80c8f7e4f1ba13816312097ddcd3

Burning of NPXS;


A quick summary of Pundi X token’s utility on each and every transaction:
  1. A bit of it is burnt for every crypto related transaction that happens in through our XPOS.
  2. The token is used to list other tokens in our XPOS, for example, QTUM paid us a sum of NPXS to be listed later in our XPOS, and this will include future coins that will be listed in our XPOS.
  3. Loyalty programs are made & paid with NPXS.
  4. Ads that run through our XPOS are also paid in NPXS.
  5. Future products will be paid with NPXS.
  6. Claim goods and services from merchants.

The XPOS is comprised of two parts, the consumer and merchant.

The Point of Sale device (XPOS);


For the merchants;
  1. You get 1% extra as a fee. You can set it up from 0-3%, but we recommend 1% fee.
  2. You can sell crypto again with that 1% fee.
  3. You can sell the XPASS cards.
  4. The POS can setup your inventory, loyalty programs, ads, and print smart receipts.
  5. You can accept crypto, again the 1% fee.
  6. You will be one of the first to change how the world uses crypto.

For the XPASS holders;
  1. They can liquidate their crypto assets through our merchants, hassle free.
  2. They get a special discount.
  3. If you lose the XPASS black card, we are able to recover it (as long as you have the security card).

Unlocked tokens;


To better comply with ever-changing regulatory requirements, our legal team has advised the company to release the remaining unlocked tokens, starting from April 1, 2019, and to complete the program early by the end of June, 2019. Given the shortened period, we will increase the unlocked-token rate over the next three months. Please note that the total distributed amount of the tokens will remain the same as stated in the whitepaper.

You need to hold your NPXS or NPXSXEM on supported exchanges or wallets such as XWallet, Binance, Imtoken or in any ERC20 wallets that you control your private key.
Snapshots will be done on a daily basis and at random times for the next 3 months.
The unlocked tokens are calculated on your total tokens held, which are then distributed. Program schedule below;

Starts: 00:00:00 GMT+8 on March 1, 2019
Ends: 23:59:59 GMT+8 on May 31, 2019
Unlocked token rate per month: 11.063%

You need to hold the whole month to receive the full %. If you hold less days, you will receive less %.
We recommend you to use an ERC20 wallet that you control your private key, because Binance for example uses their own system, so if they do their calculations wrong, it wont be Pundi X's fault. Supported wallets and exchanges below:

Exchanges;
BinanceOkcoinkrBittrex InternationalHotbit - npxsxem tokens supportedWazirXUpbit
Wallets;
Xwallet - npxsxem tokens supportedCoinmiEthosImtokenTrust walletEnjinEidooExodus
Web Wallets;
MyEtherWalletMetaMaskMistParityGeth LedgerXwallet Web - npxsxem tokens supported
Hardware Wallets;
Ledger Nano S
Trezor

Formula;

The formula to calculate the base of your NPXS/NPXSXEM monthly holdings is the same as previous months but the rate is adjusted:
[(The average of the daily lowest NPXS amount of the month X 10%) + (the daily average NPXS amount of the month X 90%)] X 11.063%

Decentralized Staking;


This will be a new option in addition to transferring NPXS / NPXSXEM into the XWallet.
The Team is working hard to enable the private wallet option before March 10, the day of this "OPTIONAL" staking process kicking off.

We will do this by having holders “register” their own ERC20 or NEM wallet public address, in XWallet so that we can properly track the holdings of NPXS / NPXSXEM in those wallets to enable decentralized staking", allowing you to get the fx coins in the Xwallet, whilst getting your normal unlocks where you're getting them now. Nano S will be supported as well.

Case study of fees;


▪ 100% of Pundi X’s revenue that is generated through transactions on the XPOS will be removed permanently from our NPXS token circulation (and that's called token burn). This means that if Pundi X makes $1 of revenue from a transaction, they will take $1 worth of NPXS out of circulation permanently. NPXS tokens taken out of circulation will never be able to re-enter the circulation in any way as they will no longer exist.

▪ if the transaction is made in Pundi X tokens, we will take the tokens immediately out of the total supply. If the transaction is made in other tokens or fiat, we will use the proceeds to buyback NPXS, after which we will permanently remove the NPXS tokens from circulation and ensure they can never re-enter circulation.

▪ In case of a fiat to crypto transaction (including a payment with mastercard/visa) NPXS will be also burned.

▪ Case study 1: a user buys $1,000 worth of crypto from a merchant in a store using Pundi XPASS card. The total charge a user has to pay is $1,010; $1,000 for the crypto and $10 for the service fees. Of the $10 received, $6.50 is paid to the shop merchant for rendering this service. $3.50 is paid to Pundi X for providing XPOS (switch) and XPASS (Issuer) service.

Ecosystem;



https://i.redd.it/0ay0t1a4eqi21.png

Contact Us;

Please also read the white paper which can be found on the official webpage: https://pundix.com/
A detailed simple guide for Pundi X in Spanish language;
https://www.reddit.com/PundiX/comments/a7gdt4/a_detailed_simple_guide_for_pundi_x_in_spanish/

Twitter: https://twitter.com/PundiXLabs
Telegram: https://t.me/Pundix
Facebook: https://www.facebook.com/pundixlabs/?_rdc=1&_rdr
LinkedIn: https://www.linkedin.com/company/pundipundi/


Thanks.
submitted by Superbit123 to PundiX [link] [comments]

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