If Ethereum were launched today, it would be a security ...
If Ethereum were launched today, it would be a security ...
OPEN Developer Team Intro - OPEN
What is Ethereum? - Kalkine Media
Should I Buy Ethereum? 5 Reasons Why Ethereum is a Good ...
Ethereum Global Review (ethereum-global.com) - Personal ...
How To make it Using Defi
Hey guys, are you asking yourself this very question(How do I change my Financial status with defi?) Asking yourself this very question, you will also have to take precaution. Reason, 91% of newly generated tokens are Defi, but 85% of them are scam tokens generated for the purpose of scaming you out of your ethereum. If Your question is how do I Know new Defi token that will sky rocket like Yearn.Finance, Dfi.moneyYflink.io e.t.c you are in the right place. What you need is 1 token, you don't have to buy hundreds of coin hoping for 2 -3 to yield and possibly cover the lost of the rest. I will give you a token name that will change your life for good. Take for instance, if you buy 5 yearn.finance around Jul 18, 2020, it will cost you only $158, yes you heard me right, 5 yearn.finance cost only $158. your $158 would have transform to a whooping $145,500, with current price of $29100. more than 920% wow Incredible you got 920X your investment within 2 months. chai! you can easily become a millionaire if you put $1000 and withdraw your money to USDt on Sep 12, 2020 (16 days ago) when the price was $43,678.11 $1000 will give you 31.5Yfi(if you buy it around July 18 this year) if you sell it 16 days ago with the price at $43,678.11 X 31.5 = $1,375,762 . wow you are now a millionaire. but how do I find this type of life changing coin? the answer to your question is you need just a Defi token that has solid and reliable team. The next reliable coin that will skyrocket and beat all the frontier is Yfav.finance . But why Yfav? Yfav.finance is a fork coin from Yearn.finance and the team are ready to implement all Andre visions of yaern.finance, and also introduce new system to defi ecosystem. the next coin to watch is Yfav.finance read more about them on their site https://yfav.finance and join their social network for update on when it will be listed on uniswap.exchange and some CEX. best of luck Guys.
Weekly Update: TTR crew video series, MatchBX Climate Bounties, HYDRO “powered by Oracle”, SelfKey on Constant... – 30 Aug - 5 Sep'19
Sup folks! With this update, we will be completely upto speed with the latest in the Parachuteverse. Also this is a biggie. Parachuters from across the globe shared a slice of their life with us. This is going to be a fun ride. Buckle up! Here’s your week at Parachute (30 Aug - 5 Sep'19): This week’s 20k PAR winner from the Big Brother contest was BlackBullShark for correctly picking Michie as Head of Household. Congrats mate! And a belated Happy Birthday to Rene. Hope you had a blast. The tip storm you started in Wysker was definitely a thing to see. Unique hosted a trivia in TTR based on Maths and had a 25k PAR pool. Not bad at all. After a lot of deliberation, MUXE was delisted from ParJar. Read Cap’s article to know why. If you hold MUXE in your ParJar, worry not. Your balance is intact and it can still be withdrawn. Delisting means it cannot be tipped or deposited anymore. Benjamin’s Analysis Reports are a reader's delight. This week, the 2nd edition of The Parachute Post was released. Thanks for all the effort you put into these, mate. Victor hosted a trivia in TTR for 25k PAR in prizes. 15 questions worth 1.7k PAR each. Saweet! As you already know, the #PAR4PAR staking contest is now in stage 2. Click here to read details about it. Alexis’ haul from the Parachute Beer Exchange. Courtesy: Joakim Cap got hooked to @k16v5q5’s keychains as well We had one of the coolest contests in Tip Room so far. Shoot a video of your surroundings, of your city, of your life. And win some cool PAR. A Parachuters-Around-The-World video series. While we did have some winners in the end, every single entry deserves a shoutout. So here it goes:
Sondra (@Wingssosoft), thanks for a perfect start to the series by launching a literal Parachute from your balcony. It set up all the videos that followed like a Parachute that floated around the world.
Victor (@Vitico96), your city looks beautiful at sunset. Thanks for sharing those breathtaking views with us, Doc.
Tee Wai (@Trojak12), the river looked so serene and seems like a perfect setting for a boat ride. Thanks for capturing your home on camera.
Alejandro (@SmilaX96), what a great fishing spot! Thanks for sharing.
@ramsal12, loved the background music. Thank you for sharing the views around your house.
K V (@okodoko), the Greek countryside looks wonderful. Thank you for sharing snippets from your hike.
Foo (@MrDotsman), what can I say? You have the best views from your house in all of ParachuteLand. We are all jealous! And what did you buy in the end? Haha.
Lea (@lea8ndrea), super peaceful surroundings. Bet that pudding cocktail was delicious. Thanks for sharing.
Gisele (@giseleferreira) - I imagine the song was about the dog. It was a nice tune. Thanks.
@GeneralChumong, you guys look rad in those colorful attires! And what were you having for lunch? Thank you for capturing a glimpse of your life for us.
Elena (@elenademou), we can hear you loud and clear despite the wind and music. Haha. And your kid is super cute. Get'im into crypto while he is young! A nice stack of 1UP and PAR to get his college funds going.
@PurpleLoverO8, so much green, so much awesomeness! Thanks for sharing with us.
Pika (@pika143), looks like a great place for a quick break. Thanks for capturing it on camera.
@PeaceLove89, make a ParJar for your wife too! Then she will know why you spend so much time here. Haha. And breathtaking views too mate. Thanks.
@Mamihonik, those kids are hilarious. Lol! And thanks for sharing views from around your house.
Jeff (@jehggiurd), great fun little video mate! And perfect background song. Thanks for the walkaround.
Kauan (@ChefiaMaster), thank you for the performance. Though many of us didn't understand the language, we loved the music.
@AlteregoPT, those have to be one of the best views of Lisbon. Thank you for sharing.
Rogel (@Akoysayo), thanks for sharing a glimpse of your home with us.
And finally, Harry (@harrrr12) dude! Though this wasn't for the contest, it has to be one of the most beautiful places shared so far. Thanks for this.
A million thanks to everyone who took part. As Cap says: "It's beyond inspiring to see how cryptocurrency lives with so many Parachuters from so many different backgrounds". Snapshots from Victor's TTR Video submission for “Around the PAR World”. Beautiful! Ric and Alexis setting #PARTravel Goals The PayWithMoon (Moon) application is now part of the aXpire Blockchain Community as one of the companies in which aXpire has made an equity investment. Moon will have synergy with the upcoming PayBX product. Help create a greener world with the new Climate Bounties on MatchBX and earn some crypto for it. Win win! Victor’s weekly trivia at aXpire was a ton of fun. 10 questions. 1000 AXPR in total given out. Nice! This week’s aXpire burn saw 200k AXPR being sent to the genesis wallet. Damn! Hope you had a moment to participate in the aXpire + ThatMartiniGuy giveaway announced last week. 500 USD worth of BTC is up for grabs. CF made an awesome walkthrough video for the 2gether registration process. Check it out! 2gether got selected by The Juan Roig accelerator to be a part of the cohort. Woot! The BOMBX snapshot took place on the 1st of September. The XIO distribution will happen in the following weeks. Zach uploaded a video to explain how XIO will work in the BOMBX ecosystem and about the XIO portal. For 1000 XIO, what do you reckon the XIO Roadmap should be named? Let’em know here. And did you know that Etherscan now has a dedicated section for deflationary tokens? Good going BOMB for showing the way. 50+ startups have already applied for the XIO Incubator. Zachary invites in to chime in regarding the type of project that should go into the program. The latest Birdchain report details stats from the beta testing of SMS feature, CoinMarketCap listing etc. The three finalists of the Birdchain Art Contest was revealed in CEO Joao’s live stream which also covered other news from the project. One of the three finalists of the Birdchain Art Contest. Courtesy: @TarantuloTV Keep a track of Bounty0x news from their Republic page. The latest update is a summary of all events in August many of which have been covered by us already. The Switch token swap is now complete. The new token has been airdropped to ESH holders. Find all info about the new ESH token here. Fantom fans, if you want to see FTM listed on the Vietnamese BCNEX exchange, you can vote in their ongoing campaign. An upgrade to Fantom’s StakeDAG paper, the StairDAG was released which talks about a new consensus mechanism. For a quick recap of the month that was at Uptrennd, have a read of Jeff’s article. Jeff will also be interviewing OmiseGo CTO Robin Clart next week. So if you have questions about the OMG project, make sure to post it in reply to this tweet. Questions that make it to the interview will win USD 25 in 1UP tokens. Noice! One more public vote for an Uptrennd review went live this week. The platform is targeted to hit a few milestones this month. Go get’em! Opacity’s August update report was published this week as well. This update talks about growth metrics on the platform. Plus, there’s an ongoing giveaway for 2TB of storage space. Get on it! Opacity Account Growth and Forecast Catch up on the latest at District0x from the Weekly and Dev Report. The DANK faucet is now functional. Yay! Hydro Co-Founder Mike Kane was at the FiNext Conference this week to talk about Libra vs Hydrogen’s own Molecule. And if you are in Mexico, don’t forget to say Hi to the Hydro team who will be attending and presenting at the FINNOSUMMIT on the 13th. Hydrogen (along with TD Bank) won this year’s Tearsheet Award for Best Bank + FinTech Partnership. Hydro will host a webinar on the 19th on Open Banking. Click here to register. We had mentioned in a previous update that Hydrogen’s Atom solution was added to the Oracle Marketplace a while back. In latest news, the entire gamut of Hydro APIs now has the “Powered by Oracle” status. Sweet! This was also covered by Coindesk. HYDRO was the featured token on Publish0x back in April. Here’s some key figures from the campaign: 84k+ tips, ~640k HYDRO tipped out, 28k+ page views. Wow! Biz Dev Mark Anstead sat down with defiprime to talk about the platform for their blog post feature. Hydro Labs launched their Enterprise Solution initiative to build customised solutions for enterprise grade client. To get a recap of the latest developer and community news, click here and here respectively. Stats from the HYDRO campaign on Publish0x Silent Notary rebranded its blockchain brand from Chain-in-Law (CiL) to Integrated Distributed Ledgers (IDL) so as to better reflect its mission and vision. Check out the IDL website here. Silent Notary’s Ubikiri wallet entered into a partnership with CryptoTribunal to help with legal prosecution in cases of fraud in the blockchain industry. What will Ubikiri’s role be in this partnership you ask? Here’s an article to explain it. We have shared earlier that after the setback during STO, Blockport had to downsize its operations. The team shared an update this week after a while. They are exploring options to get the platform back on track. Best of Luck guys! The latest WandX development update also covers a 3 month roadmap. Sentivate Co-Founder Thomas DeMarchi appeared for an AMA with the Crypto Nation community. Sentivate did one of the biggest code pushes this week. Read all about it here. Sentivate Co-Founder Lew Knopp’s article on Arity (the project that built Sentivate) was published by The Daily Chain. Mycro’s MYO tokensale was officially closed this week. And with that, their bounty competition came to an end as well. The team continues to work on the Mycro Hunter app and is currently in the storyboarding phase. During this phase of development, the Mycro team visualises navigation and process flow We had shared in an earlier update about OST’s solution to create custom tokens. This week, the platform opened up UI components for developers to integrate crypto wallets in their apps. The Pepo app will soon be in closed beta. Let the team know if you would like early access or a private preview. Ost.com now has a live ticker of the mainnet transactions on the OST chain. You can borrow on the Constant platform with SelfKey’s KEY token as a collateral. All borrowings before the 10th of this month will also get discounted rates. In this week’s data threat advisories, we learnt about rogue security software, trojan horse and pharming. If you missed the first part of the series, here’s a rundown. Following up on last week’s USAF deal news, Constellation got more coverage this week from Cointelegraph on an article that explores what the Pentagon is looking into vis-à-vis blockchains. Plus, a shoutout from Blockfolio is always special. CEO Benjamin Jorgensen and Biz Dev Benjamin Diggles were interviewed by BlockchainBrad (Brad Laurie) on all things Constellation. And to close for the week, Constellation announced a partnership with Moonrock Capital to "collaborate on education and marketing around $DAG". And with that, we are all caught up. Whew! That was fun. See you again soon with another exciting update from Parachute + partners. Cheerio!
I have not been able to focus on writing the past couple of weeks now. I have learned a lot about using multiple different exchanges over the past couple weeks. I went from GDAX, to Binance to Kucoin. I have learned a lot and what I am about to tell you is my honest opinion. The Hay Way Investing in crypto is better done when you research a coin. DYOR is a legit term, even sounds like what it means. Do Your Own Research. Start here David Hay Read Read some books about economics and especially Bitcoin. My favorite books on Bitcoin Bitcoin and Cryptocurrency Technologies: A Comprehensive Introduction and Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money. Knowing the history and how Bitcoin works is fundamental I believe in this journey. Another great read I believe will make you look at money forever different How an Economy Grows and Why It Crashes Telegram & Alt Coins I think you should get Telegram. I am not kidding. It is amazing to connect with people from the different Exchanges, coins and dev channels. I warn you right now, you will be targeted for spam channels. You will be targeted in some cases by elaborate stories and ruses. You need to DYOR before following these blindly. Remember jumping into any investment without DYOR is a mistake, there is no free cake in this world. Someone I know was contacted by someone saying they should invest in a coin, it was about to explode, they were hyping about x3 x4 returns. My friend jumped all over it and did DYOLR, do your own little research. Which was is ok, but not wise. All ICO/Crypto Channels Remember, when you go into telegram you are gonna be on the front lines of Alt coins and you are deeper in the inception of Cryptocurrencies. You are no longer in the kiddy pool. What I mean is that out in the Alt ocean there are more predators. There are more people running scams and tricks to get you to be baited in and lured in. You are not gonna get people saying Ethereum is about to make you rich, how Bitcoin is about to explode, how Litecoin is gonna x3 x4. When you are on Telegram you will run into groups and people, personally over messages and in channels pressuring you in the sweetest way to invest. How to spot a scam on telegram (which I get most info from Here):
Anonymous team or members of the team: sure satoshi was anonymous but satoshi also wasnt asking you to invest in his tech.
Insufficient information on website/whitepaper: the whitepaper is present or not at all. The white paper is convoluted or does not make sense.
Empty repositories for open-source projects: Look at their Github, look at their development research if you can. If you cant find quality do not expect to find it.
No clear roadmap: a website is nice and one video just doesnt cover it. With missing a road map or at least a ledger of working projects or working products.
Shady Team: If you interact with the team, the leaders of the company and they do not reply to your questions or become defensive. Be aware people are busy but if you ask legitimate questions and there is little to no response, remember you do not know who or whom is on the other end of that connection.
Special tips or favors: If someone is offering you a tip or a deal of a lifetime, they will say it in a way your defenses will be down. Imagine this is similar to the nicely dressed guy in the walmart parking lot saying his mother is sick and dying and needs to go see her, he needs some money. You will get that same feeling here but you need to be careful. There is no free tips in cryptocurrency, there are people making money and people losing money. If they use terminology a lot like IMO, IMHO. Be aware these are used to drop your defenses. Never get emotionally connected to your investments, if you cant stop thinking about it you have too much invested in it.
Take Profits When you are in an altcoin maybe from the bottom, maybe you are making it big. Never just keep hodling. Remember this and say it with me What goes up must come down. I am a huge hodler and swing trader but I am telling you something. Take profits. Do not let greed ruin your feed. What I mean is that rocket pumps and jumps and quick increases (within a couple days) in price on an alt specifically are the result of a pump. Some are subtle you would never know it. Let me share a story with you.
“…I am upset I have lost so much money… this is what happened… someones messages me on Telegram telling me it alright, I had just lost money. But they say … If I wanna make a profit invest in this coin. So I do. It is great! because you know what ?! it begins to go up up up. I am excited, someone was nice enough to help me out. Such cool. I put more and more money into this altcoin. I mean I believe in the tech, the ideas and the situation is just amazing.… I mean I am making tons of money on my initial investment. It wont stop groing up this is fantastic. I make everything I have into it. With these gains I am going to come out on top. Lambos and all that. Then poof… I have feeling. Maybe I am get scammed this seems all too good to be true. I look at my messages from "the tipper friend" at times I feel like I am talking to a different person, it doesnt seem like the same person. They said oneday they bought some coin it for $.50 and just now they said they actually got it for $1.00. That I should hold and not sell… I have this weird feeling, but I am making increase. By the time it $8.00 I could not believe it. I asked "the tipper" you know he is like my best friend right now, I ask if I should sell, he reminded me to not sell no matter what, do not do it. If you do it you have weak hands, you must hold... but then everything began to drop right after their big annoucement. I wasnt worried I knew they were gonna go back up. He said so… But then Asia banned thing happened and the market just crashed I lost half of everything I owned in that… it hit me… maybe I can help them out maybe do work for them on the side… I mean I want the coin to go back up… I can help build website… my friend laughed at me… he say I work for them now, they give me the money they took from me… ha whatever… well… I ended up helping out and…. To me it felt me I felt trapped. I felt like I owed them something... only to come to find out that whatever just happened was planned maybe and I have this hope if I help out maybe it will go back up.. but it never did…”<
I think its a true story… maybe exaggerated some. You will find these if you ask around. The reality is real, scammers do exist. What is happening in these situations is that often a large group of people are gathered together to hear about a new “coin taking off” one by one they are pulled into a telegram channel. In fact it “the boom” may have already started and the tech seems legitimate enough, you will quickly be blinded by the quick jump in price. If you were in their shoes, you should be asking one question…. ”How did their ICO go? Was it profitable or not?”. Because if it was not, more than likely they are gonna do something whatever it takes to take profit to get their tech started… What you see happening also is that tech that may be great oneday… Remember that “oneday” could be 1-3 years from now. Story of NEO… Rags to Riches. So you have to presume a coins team will do whatever and be as dirty as they can to make ends meet, often it means taking money from innocent people. In this specific situation, the coin was being pumped surgically, not obviously, so it legitimacy seemed legit. Another question that should of been asked is “Where is the working product? If you do not see one what makes you think other investors will actually like the idea?” There were no obvious big signs of a pump, so you can easily think this is all ”Organic”. There is nothing organic in one week in this industry. ”Ask yourself did that 400% literally just happen in a couple days?” because if its too good to be true, let me explain this to you in simple terms. IT IS. Even though slowly and surely the price rose and people held out, no weak hands here… But what is happening is that people holding lost a lot when the devs. and whales sold their coins… you have to be aware many of the smaller coins will have either premined their coins or bought up a ton when it was only cents. They essentially will cash out huge returns.
A “premine” distribution system, while not necessarily an indication of a scam suggests that the creators of the cryptocurrency already own a portion of the cryptocurrency before it hits the exchange.<
It happens, it is normal, but in ways it is wrong, especially if you are new to Altcoins. Read More Here. Buy the dip and sell the news is true. If this user would of done that, they would have made out probably ok, so next time take profits… say it with me what goes up must come down. The Fud Truth This term is thrown a lot. It does not mean F'd up data. But essentially that is what it is, Fear, Uncertainty & Doubt. In my experience people who specifically had showen good data on their Reddit comments or posts or on Telegram that proved some FUD. They were banned, kicked out or shutdown. If you notice a truly negative or hostile atmosphere to people because they are FUD, you need to step back for second and look around. Who do you actually know here, is it just your "tipper" friend. Really think about the FUD when it comes out. Because if the person above would of listened to the FUD they would not be where they are now. Fud Reddit. Rest. Take some time and rest from this. I cannot explain to you the amount of hours I have spent looking at my phone. My computer. Talking on Telegram, acting as if I am being paid for it. Doing little graphic design work here and there. Take a break and have a life. Because at the end of the day your time is what you are using to pay for this. When you buy an alt coin you or anything for that matter you are spending the time you took to make that money. Remember your losing on both ends if you spend your time making money to spend more time losing or making that money. Watch this. Time is your currency. Tl;dr Get telegram, scams happen more in altcoins, build relationships, research, listen to the FUD, rest. Edit:spelling errors and link error. Wow I cannot thank you guys enough, your responses have been encouraging. cryptocurrency can be a place of quality and we can decide to do that everyday. I encourage each of you to share what is happening to you, what you have learned.
BAT Community Weekly Update: 10/12/2018 to 10/18/2018 — New redesigned Brave browser (v.0.55.18) now available for download, The New Brave is 22% Faster (blog), AMA with Yan Zhu, r/BATProject hits 20K subscribers!
Brave Rewards beta: Brave Rewards replaces Brave Payments with improved usability, more visibility, and new features. With this release, Brave Rewards enters beta.We look forward to getting your feedback on this redesigned approach.
Brave is featured on Privacy Heroes — a collection of services and software focused on privacy! Check it out: https://privacyheroes.io GDPR is ‘Kryptonite’ to Google and Facebook, Brave Executive Tells EU Brave Browser has described how a core principle of GDPR called “Purpose Limitation” can be used to prevent anti-competitive behavior by Google and Facebook. In a recent letter to the EU Anti-Trust Chief Margrethe Vestager, the company offered its submission on the topic of shaping competition policy in the era of digitization. https://finance.yahoo.com/news/gdpr-kryptonite-google-facebook-brave-154027155.html Jonathan Sampson of Brave appears on The Web Platform Podcast! From the show notes: “Brave is a modern browser that puts the user first. This week learn all about Brave, find out why it's faster than Chrome and Safari and how it uses blockchain technology to pay users for their attention and content creators for their work.” https://thewebplatformpodcast.com/174-brave-browser
News You Should Know:
Why Google Could Be in Trouble With the Feds Over the Google Plus Bug When Google executives decided in March not to alert the public that the company had found a bug within its moribund social media platform, Google Plus, that had exposed the personal data of 500,000 users, they likely felt they were sparing themselves a public firestorm. According to an internal memo obtained by the Wall Street Journal, advisers within Google noted that going public with news of the data exposure, which the company patched quickly, would mean “us coming into the spotlight alongside or even instead of Facebook despite having stayed under the radar throughout the Cambridge Analytica scandal.” https://slate.com/technology/2018/10/google-plus-bug-ftc-consent-decree.html Facebook may face $1.63 billion EU fine for breach A European Union privacy watchdog could fine Facebook Inc. as much as $1.63 billion for a data breach announced Friday in which hackers compromised the accounts of more than 50 million users, if regulators find the company violated the bloc's strict new privacy law. https://www.marketwatch.com/story/facebook-may-face-163-billion-eu-fine-for-breach-2018-09-30 Facebook could in fact use data collected from its Portal in-home video device to target you with ads Last Monday, we wrote: “No data collected through Portal — even call log data or app usage data, like the fact that you listened to Spotify — will be used to target users with ads on Facebook.” We wrote that because that’s what we were told by Facebook executives. But Facebook has since reached out to change its answer: Portal doesn’t have ads, but data about who you call and data about which apps you use on Portal can be used to target you with ads on other Facebook-owned properties. https://www.recode.net/2018/10/16/17966102/facebook-portal-ad-targeting-data-collection Kirkville - I Pay for News; Why Do I Still See Intrusive Ads? I subscribe to a number of news publications on the web. I get some of my news from The New York Times, I read news and current events from The New Yorker, and there are a few smaller websites I subscribe to. So why do I still see intrusive ads on these sites? And even more perplexing; why do some sites, like The New Yorker, ask me to subscribe, even though I’m a subscriber and I’m signed into my account? https://www.kirkville.com/i-pay-for-news-why-do-i-still-see-ads/ On Twitter, Privacy Matters outlines the details of Facebook Portal, and why the company has mastered being deceptive by design Check out the 37 part tweet starting here: https://twitter.com/PrivacyMatters/status/1052551216658567169
MIGRANET IS AN EASY WAY TO ACQUIRE YOUR TRAVELLING VISA
MIGRANET Migranet is a new platform aiming to build a system where people could get a quick work out their migration documents in a very ease way. The team behind this project sees technology like blockchain as the only solution to the challenges migrants face while applying for their migration documents. Therefore, this team as capitalized on this development to build a platform that will use artificial intelligence and blockchain technology to create an ecosystem that runs a migration services to the people. The Migranet platform is making a way that people will have a freedom to choose where they want to migrate to without any policy or restrictions and also to get a legit and secured documents. The Migranet platform is also working in line to make sure migrants documents are process within a short period of time, unlike the traditional migration platform that takes months before the migrant's documents will be ready. The Migranet will be working in line with other firms that is offering migration services by accessing and verifying them for more legitimacy. This processes will make us fish out the firms that do scam migrants and do human trafficking. The Migranet is a migration services provider platform that will demand the lowest charges for the processing of the migration documents and other processes. In life, everyone ought to have the autonomy to migrate to the nation of their choice but very unfortunate that the government regulations and rules has deprive many migrant to move to the country that could meet up their task. However, Migranet is changing the story by building a decentralized migration services platform which will make migrant chose and go to the nation they like and enjoy themselves. The Migranet is the cheapest means to go that country of your dream. According to the whitepaper, they will reduce the costly price by 90%. In the previous system taking my country as an example; for a visiting permission, it cost us 300$. While work permit of 2 years cost us 700$ and the permanent resident paper cost around 2000$. So the Migranet platform will make the fees reduce by 90%. Wow, this is great and am happy. The Migranet will tokenize this ecosystem to make the payment process become more easier. This led to creation of MIG token. The MIG token will be utilized within this platform for acquire the services of Migranet platform. The MIG token will be also used to reward the people that make use of the platform. The platform will be selling out the MIG token to investors through an initial exchange offering in IDAX exchange. Though the first round has ended with the MIG token being sold out within 60 seconds. This shows Migranet is a very powerful project. The next round will start today being 17th of May, 2019 in IDAX exchange. Don't missed this opportunity please. IEO DETAILS: Hard cap: $75M Soft cap: $20M Token name: MIG Token price: 1 MIG = $0.20 USD Project Protocol: ERC20 OFFICIAL LINKS OF MIGRANET Website ⇒ https://migranet.io/ Kakao: https://open.kakao.com/o/gQ6YwDnb Whitepaper ⇒ https://migranet.io/wp-content/uploads/2019/04/Migranet-Whitepaper-v.1.1.10.pdf Medium ⇒ https://medium.com/migranet Instagram ⇒ https://www.instagram.com/migranet/ Facebook ⇒ https://www.facebook.com/migranet888/ Twitter ⇒ https://twitter.com/migranet1 Telegram ⇒ https://t.me//migranet Writer's Info Bitcointalk username ⇒ Romanbank Bitcointalk profile link ⇒ https://bitcointalk.org/index.php?action=profile;u=1968530; Ethereum wallet ⇒ 0x343A5C0d966E3F8EA004Efb8939c7D71A60ae795
Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm (Full Article No Link)
Alan Booth is the CEO of one of Cryptopia, an exchange regarded as having one of the widest selection of tokens. Founded in 2014, Cryptopia is one of a handful of blockchain-focused companies in New Zealand. The Cryptopia team is often tasked with researching hundreds of projects to determine their efficacy before any other major exchange has touched them. The exchange lists many projects in their early stages and post-ICO. As an entrepreneur and business consultant for over 50 years, Alan Booth’s story is fairly atypical of that of many entrepreneurs in the cryptocurrency world. His perspective on the cryptocurrency is grounded in decades of business development experience, and he views the cryptocurrency exchange realm as one of the most exciting opportunities yet. In the following interview, we dive into everything from cryptocurrency psychology, the coin listing process, and blockchain entrepreneurship. How did you get introduced into the crypto world? That’s interesting. I was consulting for Cryptopia or consulting to assist them in their development path for several months when it became obvious that they needed some senior leadership to move them from where they are, which was basically a reactive technical focus to a more business global focus on how we develop their business model. We are very conscious of the fact that you need a higher level of thinking. You need a global perspective, particularly from New Zealand because there’s not a lot of us down here. That probably predicates why we’re a global business grown out of such a small population. We’d known each other for a while, certainly six months or so, and when the opportunity came up, why wouldn’t I move from a very safe, comfortable, fun job that I had previously, which was the chief executive of an international flying school. Nothing really scary goes on there. I am at the latter end of my working life, somewhat semi-retired and all my colleagues went, “You’re going to do what? Are you kidding?” Of course, the blood pressure went up and I said, “yeah, I’m going to have a go at this.” So, it’s really about the opportunity when you’ve learned so much over 40 or 50 years of developing business models and floating companies and taking them to the world, which is primarily what I’ve done. To find something that’s new and a full of excitement and fear and trepidation and where is all this going? Then it’s an opportunity you can’t afford to pass up. So, it’s just the daredevil saying let’s go. The risk and the general fervor for the industry have gotten a lot of people very excited. What are the top concerns for exchanges moving forward from your perspective? They are many fold and they are variable based on feedback from the community and somewhat driven by legislation, driven by corporate requirements. The FinTech world, we’ve got to look at that as well as the coin world. If we want to grow and deliver a product that the average consumer can consume, then we have to deliver all the things that they would typically expect. So, if you went into a retail store to buy a heater, you expect to have a warranty. You expect to be safe, you expect to be treated well with clarity. And typically, the coin industry to date has not been very good at that because it’s been evolving and mostly evolving from a technical perspective with probably less weight put on the public consumption of the coin. It’s being technically driven as a technical product when you look at it. When you go to the exchange, some of them take a fair bit of thinking about before you can operate. So, for us, the first thing is trust. If people can’t trust your brand, and that means every part of it, you’re not going to succeed. So, we are very proactive here in New Zealand, talking to legislators, government agencies in and out of New Zealand. KYC, AML, CML, all of that stuff. We are drafting our own internal rules and then most cases they exceed the requirements of our banking partners. So, they look at us and they go, wow, you’re way ahead of where we thought it would be. So, developing a trust relationship with our consumers and business partners is vital. The next thing is developing a stable and functional platform. I don’t just mean the coin exchange itself, but all of the underlying technology. Will we be up? Do we have latency? Are we speedy? Have we purchased the right partnership relationships for our equipment and how do we continue to be able to scale at will and not risk failing to deliver a result? That means helping people get an exchange done, their coins on and off. I suspect it’s the same as every other exchange. Only thing is, down here, we have really focused on three things to move us very quickly forward. One is the public-facing components. That’s the help desk if you get stuck. We want to be able to respond very quickly. And like the other exchanges, we headed enormous influx in the early part of the year and that was debilitating. Nobody was ready for it. We employed teams of people to come in and train as support operators. We’ve since then spent a huge amount of money on a new ticketing system, which actually went live yesterday. So, this morning when I come in, there’s smiley faces trying to get their head around it going, wow, this is amazing. So, we triage all the tickets on the inbound route now and puts it in a good space for our response team to reply as quickly as possible, I want. At the moment, we’re not there. Instead of being 40 or 50 hours and all these horrible delays, I want people to have a response from us immediately and I mean within seconds saying we’ve got your ticket. I can’t answer it right now, but we’re on you. Then, within hours, get back to those customers and fix their problem. They don’t deserve to wait 24 hours or 48 hours. People are anxious. Ticketing, we’ve done something about it. Highly trained staff, we’re employing all the time. We’ve developed foreign offices to beat the time zone thing. We now have a support office in the UK that we have had for some time, actually. The next thing is just the stabilizing of our software and hardware. When you start these things, the enthusiasm and the inexperience of the development team may not know what’s here to them and now we’ve bought in bigger, stronger, international teams. So, that’s great what you’ve got, but let’s do this. So, that’s the phase we’re on now. We’re spending all of our money. In fact, every penny that we generate in this business goes straight back into furthering and developing the products. Nobody’s racing home in Lamborghinis or flying their jets around. They’re just piling into it. So, that’s how I am in terms of producing a high-quality product. It’s not a decision we just made. It’s always been there, but we are now articulating it internally, that we want to be in the top five of crypto exchanges and digital asset exchanges of some form within the next two years. In the top five, bar none, in every respect. Would you say the number one component of being thought of as one of the top five would be trading volume? Is that the primary metric? I absolutely agree with you, but you can’t have trading volume unless you provide the other things first, like security, safety, a good trading platform. If you want trading volume, I have to have a reason for you to trust me, which has to be if I have a failure, will my ticket, be answered? If you do those things, you will get trading volume. I don’t believe you look at it the other way and say, hey, let’s create trading volume because if that comes at you hard and sharp, how are you going to cope with it when something breaks? It’s technology, things will break. It’s how you address things that go wrong that made you successful, not what you put in place to drive that business in. That will happen if you’re good. The word gets out saying this is a great exchange. They fixed my tickets, they’re fast, they’re responsive, it’s safe. That will create trading volume. Trading volume for us is income and of course, we want it. We have actually slowed down on coin listings. We’ve slowed down on taking new customers and we’ve slowed down on developing relationships with partners simply to get our platform in better shape so that we can become the most reliable, trusted partner you can have. That will create trading volume, no doubt about it. Although trading volume does bring in a sizable amount of revenue, there comes a point where it just becomes a vanity metric where people are using an exchange simply because there just aren’t any better alternatives out there.. So, if there is an exchange that can offer all the features that you’re talking about and a premium level of service, then the trading volume will trickle down. There’s no real loyalty for exchanges other than preferences. Absolutely. We wouldn’t ask for that. Why would you say to somebody, hey, you got to be loyal to us? That’s just silly. You will be loyal to us if I offer you a great experience. That means volume of coins, a huge range to trade through. Ease of trading. One click, two clicks. How about some trading tools just like you see in a modern foreign exchange opportunity? Some arbitrage tools, some tools for measurement, some nice desktop tools. We want to introduce other things. It just means that you’ve got control over your own reporting and your own desktop environment. It can become a very powerful tool to use as long as we listen to the customers and say, hey guys, we can develop that. Give us a couple of months, let’s put it in front of you. What is the coin listing process for you guys? What’s the process for someone who wants to get their coin listed on Cryptopia? We’re just reviewing that and we’re being very focused on changing the way we list coins and who we list. We’re very conscious to gain trust. We are actually your first port of call for particularly those people who don’t know much about coin, so they have to trust their exchange partner. Therefore, we have to make sure that if we list a coin, it’s a viable trusted, honest coin that’s going to give value. Not just to us as an exchange but it’s not a scam coin. It’s not something just to raise money, pump and dump thing. We have coin listing teams who are very tough. I have introduced people as the CEO to my coin listing team and I can’t get it through them. I’ve said, but these are great guys and I have a great story and I met them in Vancouver and boy, they’ve convinced me. My coin listing technical team does all the due diligence. Everything from GitHub, Facebook pages, normal stuff like that. If it doesn’t look like a viable product to us on many levels, then it doesn’t get listed. That’s the end of it. If [the coin] gets past that, we do further due diligence. We’ll actually interview the company. We’ll ask why do you want to list? Why do you want to list with Cryptopia? What’s your plan for the coin? What do you want us to tell customers because they’re going to be relying on us? So, we’d like to do more than just have a coin called 21 Million sitting on the exchange. How about if we had a link to that with some of the criteria we use to judge whether that was a good opportunity. Whether it was a good coin. We might have a 10-point plan and we might say, hey, this coin passed at 9.7. This coin is in, but it only got in at 2.4. Whereas the negative coins, the coins that have gotten negative plans, negative equity in our mindset, they just don’t get on the exchange. We have a very large number of coins at the moment. We want to remain in that space, be the leader. That means that clearly, we’re not going to get it right all the time because we make mistakes and actually, so do the some of the honest and reliable coin generators. Their plans might not just happen, so they get the benefit of the doubt for a while. As long as we see that they’re not doing something deliberately to disrupt the market or just to take money, then we’ll support them until they get their business model right. But we’re very focused on a coin listing to us is actually a business partnership. We’re not just going to throw coins up there. I think 2018 is the year of reckoning, wherein 2017, pretty much anything got listed anywhere. It didn’t really matter how functional the coin was or whether it was legitimate or not. So, it’s really cool to see the trend in exchanges making a stance against that because if the ax falls, it doesn’t fall on the anonymous coin team that could be in Switzerland and Ethiopia. It’s falling on the CEOs and the exchange teams that are allowing access. People come to us and they say, hey, I haven’t got my money. You’re the exchange. I go, well actually, the coin that we listed, I’m afraid the wallet’s faulty or they didn’t do this, or they ran away. People don’t care. They’re relying on us. That’s why Cryptopia has to be a business partner with each and every user, not just a provider of some coin listings. That would be unethical. Absolutely, and it’s good to hear. Speaking of regulations, how do you think that’s going to evolve for exchanges, especially being out of New Zealand? I welcome a regulatory intervention for many reasons. The primary one is that as soon as the regulators start imposing their will and taking notice, it means that it’s a genuine opportunity. They don’t waste their time on something that’s not going to affect global economies or our economy. For example, the New Zealand regulators, we’re working and we’re working with them because they recognize that somebody has got to work with them to tell them what’s going on. The other side of the fence, that’s us. We have to work with them to say, you can’t do that because it won’t work in this environment. So, working with regulators is critical, in my opinion, and we’re doing that very well. Regulation has to come. It was just announced in New Zealand a few days ago that we’re going to start, this is unrelated to coins, collecting GST, which is our equivalent of your local taxes, on online purchases. So, typically anything up to $400 that you buy online from Amazon, for example, in New Zealand, you wouldn’t pay tax on and they’re changing that. They’re taking the same view with coins. So, the government is saying, how do we tax revenue? When do we tax revenue? What should it look like? How do we make it fair for you, the exchange and how do we make it fair and manageable by the consumers who may have to declare a capital gain if they’re going, for instance, as an equity or a property as pure speculative fun like betting? And if that’s the case, when should we do this? Should we backdate all that stuff? Every country is going through this and some have jumped in and made decisions that they’ve had to backpedal on. They were a little bit hasty. In New Zealand, in particular, we have a great relationship with the regulators and all the powers that be, right down to the banks, and are all looking at the space saying, you know what? We don’t quite know what to do, but let’s start doing something and I welcome it. And the more understanding and control we have on these things at this early stage these next few years, the neater and cleaner will be over the next few years. Just as banking has become very stabilized through regulations, so will this crypto business, whatever it ends up looking like. New Zealand has its advantages because a smaller population could make building direct relationships with regulating authorities easier. Tim Draper, for example, is investing in Papua New Guinea to try and make this whole digital citizenship country. The Binance guys just moved over to Malta. The global landscape just opened up, and governments will have to start offering distinct advantages to attract companies that could hypothetically set up virtually anywhere. That’s great because that’s exactly what online trading is about. It’s online and it’s global. We have to join the global party, but we better start from a position of understanding and strength in our own environment. Make sure we have our own stuff together before we start yelling about what someone else should do. Yeah, absolutely. Shifting gears a little bit, what do you think about decentralized exchanges and how they’re going to affect the whole exchange thing? The quick and easy answer to that is it will definitely affect the global exchange market. It will definitely affect FinTech because if people who are regular investors and that’s people with mom and pops with a few dollars, right up to institutional investors, if they can see a way of generating revenue and it’s safe, they’re going to move there. They’re not going to discard their other investment opportunities and they’re not going to discard regular exchange-traded equities or working on the stock exchange. But there’s a space here that we haven’t quite worked out who that’s going to work for or how, but the more we regulate, the more we make the tools visible. The stronger we look to the market and the more professional we look. That doesn’t necessarily mean just wearing a suit into a meeting, but the more gravitas we have behind those discussions demonstrating that we’ve done on the work and that we’ve got smart people here and the technology’s good. We’re ready to come and meet and talk equitably to investors and traditional investment houses. Then there will be a way that they join up. There’s no doubt about it. I mean, it can’t be helped. How about the lightning network and atomic swaps where you could pretty much exchange peer to peer. You could trade Litecoin for Ethereum directly in one single transaction without an exchange. Centralized exchanges have their benefits, like for example, there’s someone you can knock on their door and say where’d my money go? I need customer support. So, there are advantages there, but then the advantages of a decentralized exchange are just the efficiency. I’m wondering how is that viewed for the centralized exchange world? I don’t want people to take away my income opportunity. We’re building a business. We would argue, and I think it could be demonstrated to date until the blockchain comes up with some technical solutions. We’re building a trust environment and we are taking on, at considerable cost, the responsibility for providing the trust. First, it’s a coin that we like and here are the reasons. We’ve done the due diligence on your behalf. We allow the transactions to take place and here’s how we regulate, manage and deliver that transaction and manage the wallet relationships. Cryptopia’s Coin Information display That’s a role we take on. So, if you trade with a centralized exchange, you’ve got a whole lot of advantages that you don’t have by trading peer to peer. It’s fairly obvious what a peer to peer relationship looks like. If that’s on a personal level, that risk is much greater. If it’s on a more corporate structured level, I don’t know what that looks like yet, but I think we’ve got a long way to go before we could move from centralized exchanges to peer to peer simply because there’s going to have to be some regulation around it. How would the regulators engage in that space? Who are they engaging with? Every single person who wants to trade? At the moment, they can deal with an exchange that has potentially 2,000,000 to 10,000,000 customers. That’s not easy for a regulator or a tax authority. So, there’s the regular regulatory component. That’s got to be there. Then there’s the trust management and then there are just a few more technical issues that I think have yet to evolve. It all comes down to running a business. It takes money and capital to get all these users you want to get. If the technology works, that’s great, but onboarding users take resources. How do these projects plan on doing that? It’s just a missing component of every single white paper that tries to go after that who isn’t trying to build a centralized business to oversee it. I think philanthropy is wonderful and when people are talking about decentralization. It’s a great idea and it’s philanthropic and it would be wonderful if the world could work like that. But there’s never been a business model that has worked without generating revenue. There isn’t one. Everyone’s tried, but you can’t name one that doesn’t have to generate revenue at some point or another. Even if that revenue is simply generated to make the action happen, the hardware, the software, the bandwidth, someone’s got to pay. So, if you’re decentralizing, how do you get paid? How do you police it? How do you manage it? Why not stick to a model that works? And it’s not just about centralized coin exchanges. It’s not just about front-end institutions. This is a model that’s worked since the first inhabitants of Earth swapped a bean for a stick or can I give you my dinosaur to cook while I bring you a giraffe? I don’t know, but you can’t have a society without an exchange happening of some value in exchange. Even if I go to a coffee bar with you, here’s the simplest thing. I would say, hey, I’ll meet you for coffee, on me I might pay for the coffee, but guess what? We’ve sat down and exchanged information. I’ve gotten something out of it. How do you do stuff without exchanging value? It’s push and pull between advancing technology and proving the model works but then what’s the incentive to run it and popularize it because you’ve got that whole chicken and egg problem. We need a bunch of users for this to work efficiently, but we’re not going to make any money doing it. Hopefully, we’ll see how things play out in the next couple of months or years or decades. I’m down for decades and a lot of failures. We’ll be there watching them saying we’ll help you if we can and hey, go and play guys, but come back here when it doesn’t work because we are going to be here. What are your thoughts on Bitcoin dominance in general compared to all the other coins out in 2018? So, what does a cryptocurrency landscape look like if Bitcoin happens to fall down to, let’s say, 15\% or 10\% of the market? Does Bitcoin really dominate or is it just big? If you look at the exchanges and watch the traffic, can you see as much traffic taking place and as much interest in the CoinCash or 21 Million or Kenya or any of these things? They’re all there and people are trading them for various reasons. Mom and pops are going to be doing this to buy a new car. Someone else purely looking as a store of wealth and other people are looking to dominate a market. So, I’m not sure that you could say Bitcoin dominates. It might be the largest store of wealth at the moment. Does it dominate people’s thinking? I’m not sure about that. If you’re a coin developer, it’s your coin that’s dominant in your mind and you’ll go after a particular vertical, even a geographic market. So, you have the potential to develop your store or your story within that business scope. Why does Bitcoin dominate? Simply because it was seen as an opportunity? Is it dominated because the people who trade in Bitcoin put so much faith in it being a store of wealth or an opportunity for capital gain? But a lot of those people have run away. That’s why it’s not $20,000 at the moment. It’s just trading between 8,000 and 10,000 in there. So, it stabilized. So, what if it fell over? Some people will lose money. It’s not going to change the blockchain, it’s not going to change our thinking about cryptocurrencies. It’s not going to change Cryptopia’s approach to the market. It might dominate in volume. I’m not sure it’s the dominant force supporting cryptocurrencies. I see what you’re saying. It might just be a dominance of user acquisition because there’s a larger chance they heard of Bitcoin instead of Ethereum if they have heard of cryptocurrency at all. So, it’s like the gateway crypto. Take care that people aren’t saying Bitcoin just like a Hoover, the vacuum cleaner. Every vacuum cleaner for 20 years was called a Hoover. That was the dominant brand. Hey, I’m going to Hoover the floor. What they meant was I’m going to get my vacuum cleaner of which there are 80,000 different makes out there now and they’re going to vacuum the floor, but they just called it a Hoover. So, I trade in Bitcoin. I’ll bet you someone who says, yeah, I trade Bitcoin, he’s only saying bitcoin because he knows or she knows that people understand that you’re referring to a cryptocurrency. If you say to someone I trade in Clearpoll or CoinMedic3, they have no clue what you’re talking about. They go what is that? Oh, it’s Bitcoin. Oh, I get it. If you went home to your mom and dad and they asked what are you doing? You’d say, oh yeah, I’m trading cryptocurrency. They’d go, oh? What’s what? You’d go, Bitcoin. They go, oh, that thing. Bitcoin Cash is competing to be known as the Bitcoin for a reason. In the next four or five years, there are millions of people that haven’t even heard of crypto that would probably receive a lot of benefits from being onboarded into the cryptocurrency world. I’m not really sure how what they get onboarded to first matters immediately, but I know it plays a substantial role for a lot of people. It’s an initiator. It’s a keyword that attracts them to the space that we’re in. It’s simply because it’s got brand dominance in the public persona. If you say a Bitcoin, most people know you’re talking about that strange online thing that no one understands and there are a few other coins, but we don’t know what their name is. As soon as they hit an exchange, if they really want to try it, they’re going to look at the next one down and say oh, I didn’t know that existed. They’ll make their way right to the bottom of the 2,000 list. So, I really don’t think we should worry too much about dominance or anything that’s measured in that way in the space because the variables that change our value perception on any of these products is a mystery to everyone. A rumor can cause change overnight and things like that have happened. Guess what? They also happen in traditional exchanges. Go to the London stock exchange and you’ll see a piece in the paper tomorrow that prices rocketed or have fallen over the next day because the public is there. The public is there late, remember. If you see it in the news, it has already happened. That’s the same thing for this. So, what are your favorite projects out right now? It has to be blockchain focused. I mean, coins seem to be a tool that are being used to raise capital, raise awareness, create hysteria over or some fun. Some of them, and I believe it’s very few of them, I wouldn’t like to statistically put a number on that, but I think it’s very, very few have actually got a basis of a typical good investment. Is company strong behind it? Do they have good ethics? Why are they doing this? What’s it for? Or is it just to raise money? When they’ve got money they can go, oh, look how much money we’ve got. Let’s do something. That’s not the way to grow a business. Somebody has to have a good story that’s technically supported. It has to have social value these days. And that means is it good for mankind? Is it going to save the planet? Will it do something? Create manufacturing? Whatever it is. Hey, I’m not a philanthropist. I’m not saying you’ve got to do something to save the planet. But the youth of today are much more conscious about anything we/they do is about social conscience and social values and responsibility. So, for me, any of those projects, whether they be blockchain based or coin based that do something more than just making money for a bunch of guys, so they can go buy a Lamborghini, gets more of a look and support from us than the others. There are ways of going and creating wealth for yourself than preying on opportunities that exist simply because exchanges listed them. So, we’re very careful about that. So, I wouldn’t like to say at this stage, we have anyone in particular. We do have some businesses we’re looking at, but they all are very well rounded in terms of their sales pitch. It’s ethical, it’s got a good background. They have strong management, a history. They’re well-funded already. They’re not just grabbing money to then decide what they’ll do with it. Well said. The one point you made about how these projects need to be ethical and how that impacts those business models because again, you tap into to the same vein of projects that are looking to substantially change industries that had been stifled by inefficiencies or corruption. It stretches a long way. If you find a solution that bugs business and usually if it bugs a business, it bugs and effects people, consumers, in some way. That might just be, where it’s blockchain related, securities and tracking things to make this whole trust environment that we live in. The point is we say we can trust but we can’t trust. Everything we do is about trust. We get lawyers to look after our trust issues and we shake hands and we still wonder whether it’s a deal. So, solving trust issues globally is probably one of the biggest benefits to mankind because once we solve the trust issue, you can then be positive or confident that something that you want to happen and agreed to happen is actually going to happen. If it doesn’t happen, it’s not just about the broken trust. It’s then about the finances involved before you got there. That’s all gone. The future has all gone around that business model. So, trust management in blockchain and around coins and around exchanges, decentralized exchanges, is probably the biggest thing we have to deal with. Which takes me back to my core development program right now, which is developing a trustworthy exchange. Make it clear, unambiguous. Make it reliable, deliver what we said we were going to do. What does a day in the life of Alan Booth look like? What do you do for fun when you’re not doing exchange type things? If there’s even time for fun. If you’re running an exchange, it’s 26 hours a day to run an exchange. If you can squeeze another hour in, you might find some fun. This is probably my last employment opportunity. I’m in my 60’s. I’ve spent 50 years being an entrepreneur and an arm waver. Wave your arms and see who’s taking notice and make something happen. So, fun for me is actually the exploitation of a business opportunity. I go to bed hoping that I wake up in the night with an idea to scribble on the pad. I come to work a very early. I’m up at 5 am. I get here at 7 am if I can with the work already done. I don’t want to arrive at work and look at emails. If you’re looking at email and other stuff, it’s other people’s requests on your time. I’m going to arrive here being creative. I want to arrive every day going, I’ve got nothing to do except be creative and compel all of my employees and partners to support that creativity and bring their own creativity to it. So, you couldn’t have more fun than that, could you? What else is there? Just to make stuff and see people get excited and give them the opportunity. But when I’m outside of this, hey, I liked to fly light aircrafts. I ride fast motorbikes. I do guy stuff, and when I’m not doing guy stuff, I’m at home helping my wife in the garden. Just an ordinary guy. Most of my daylight waking hours is about being that global entrepreneur with regard to this huge global opportunity which is let’s change the world. It’s like moving from coal to steam, steam to mechanization, mechanization to electronics, and now we move into the digital age and we’re in it. What a fantastic place to be. So, how exactly do you do that? Do you just wake up earlier and just get everything done at 5:00 AM? There’s never enough time in the day. What it is, it’s being super critical about what’s actually important. If you open your email when you get to work, I will guarantee that you will sit there procrastinating and jump between emails. Most people don’t work from the top to the bottom or the bottom to the top. You’re a little bit selective, so already you failed to do what people expect you to. Email and inbound inquiry are other people’s expectations of how to use your time. They’re imposing their requirements on you. So, you’ve already allowed yourself to be managed by outside rules. You’ve got to arrive at your office with nothing that interferes with the creative process of why am I at this office? Why did I come here? I came here to understand what we’ve got. So, that’s a constant job. To work with the clever people that you have employed. I have a major role in employment and myself. Only employ smarter people than yourself, only. Because if you’re employing people that aren’t smarter than you, you’re going to have to tell them what to do and you don’t have time for that. Now, employing people smarter than yourself, for me, that sets the bar quite low, that’s easy, so I get really good pickings. But, generally speaking, you need to employ the best people and get them going and then you’ll be so busy running around trying to keep up with him, not them keeping up with you, that you actually have no time for all that outside noise. You’ve got to impose on the world what you want, not the world imposing on you what they want. Turn it around. Every time I have a conversation with somebody, it’s about what I want, in the nicest possible way. We will listen to inbounds but we already have a path to follow. If you start following other people’s paths, you’re not going to get where you want to go. Here’s the thing. I’ve been a business mentor for probably 20 years. Mentoring basically new CEOs. New CEOs, it’s the loneliest job in the world because it might be your first CEO job, so you can’t talk down because those people below you expect you to be the boss, so you can’t ask them. You can’t talk up because you’re the CEO. It’s no good asking the board, they’re looking down at you. You can’t talk sideways because they’re your competitors. So, the first year or two as a new CEO is the loneliest place on the planet. So, what you have to do is be entirely focused on what you need to get done and that is by changing what you used to do before you became a CEO or a boss. What you used to do is respond to every bit of noise that came at you and it filled your day up until you went nutty. Thank you! Cryptopia CEO Alan Booth on the Cryptocurrency Exchange Realm
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Alex is the Editor-in-Chief of CoinCentral. Alex also advises blockchain startups, enterprise organizations, and ICOs on content strategy, marketing, and business development. He also regrets not buying more Bitcoin back in 2012, just like you.
Moonetize Team AMA Interview with Newton Founder Xu Jizhe
Hosts: Can and Ender Guest: Xu Jizhe (Newton Project Founder) Can: Dear community, we have collected your questions and today we will be asking them to Newton founder Xu Jizhe. A brief information about me; I’m Can. I’m the co-founder of Moonetize. Moonetize is a team of blockchain enthusiasts and community managers providing various services to startups and ICO’s. I have a B.Sc. Degree in Mechanical Engineering from Germany. I’m also a translator and I speak English, German and Turkish. I value the community economy philosophy very much and thus I’ve been following Newton Project from the start and it's an honor to work with Newton. Since May 2018, I’ve been working closely with Newton Team. I’m translating Newton’s documents into Turkish. I’m also one of the admins of Newton Turkey Community on Telegram. https://t.me/newtonturkey Ender: Hello Mr.Xu. Let me introduce myself too. I am the co-founder of Moonetize Crypto Solutions which cares blockchain community growth of this ecosystem as much as Newton. I began my career with an electronic engineering education and continued as a network engineer, a consultant and an instructor. I developed projects with the design and software of embedded systems and received awards in various competitions. I was the head of my university's IEEE branch (Institute of Electrical and Electronics Engineers) for 3 years and I took part in the IEEE global meetings. For nearly 10 years I have been providing Cisco, Juniper, Palo Alto Networks, HPE official training and consulting services. I have been working as a Palo Alto Networks' Professional Engineer. Thanks to my training knowledge from Founder Institute (fi.co), I work on the applications of new technologies to our daily life. In this respect, I closely monitor the blockchain technology and produce training contents. I am currently working as a blockchain consultant with the projects from Switzerland and Turkey. Projects are in insurance and e-sport market. Lately, I attended the Node Conference of Newton Project in Macau. I was on the stage with the other valuable members for a little forum about Community Management and Growth. But unfortunately no chance to meet with you in face. Glad to see you are here and engaging with the community. Can: The procedure will be like this; I have a list of questions which I've gathered from community. I will ask them one by one to Mr.Xu. Here is the first question from one of our community members; How exactly do human to human and human to machine nodes work ? What’s the logic and idea behind these nodes ? How are they related to community economy ? Xu: Just came back from a meeting. Thank you, Moonetize team. I love your name. First of all, before answering the first questions, thank you so much, Moonetize team is the first rotation team to manage the Newton international Telegram community. Newton is a free (as in freedom), open, and international project, including the community, the technology and the economy model. one of the basic values is Community first. so the rotation management is one of very specific ways to make this happen. I'd like to spend more and more budget to the community. One of the things that stands out about humanity is their rich emotions and the uncertainty that these emotions cause. Through the use of blockchain, tokens and other technologies, we can break through organizational boundaries and geographical restrictions, and establish a new kind of open, distributed, and autonomous organization. In this environment, each person is an independent node, and can elect community nodes around the world through voting mechanisms, ensuring more effective large-scale collaboration and innovation. Compared to human beings, one of the most important features of a machine is certainty. we can build a machine network with a credit system and an economic model. Each machine becomes a network node and performs corresponding functions. Human nodes and machine nodes cooperate to form a human-machine community, giving full play to human creativity and machine certainty to innovate and accumulate consensus. In this way, the community continuously develops. Can: I see. Good point. Humans have emotions which may cause unwanted and biased decisions sometimes. On the other hand, machines are free of emotions and they are exact decision takers. Xu: Yes. For most blockchain projects, they only have machine nodes usually. In this case, the parameter of governance is single usually, for example, hash rate, stake. In this case, the whole (P2P) network is not strong enough from the governance point of view. Can: Most important unique feature of humans is creativity and of machines is certainty. Therefore, by combining the two best aspects of each (creativity + certainty) we can get an amazing system actually. Wow. I understand now. We should never forget about the "creativity" of humans. Since creativity and development is what brought us to 21. Century. We should value this. Therefore, combining human + machine nodes seems to be the differing point for Newton compared to all the other blockchain projects out there like you said. Xu: When I wrote back to a professor introduced by Theo to me, I wrote: Most blockchain projects are trying to setup the incentive rules and a few of them works well, for example, Bitcoin. At the same time, there are more and more trouble for them, because the elements of the governance is single usually, for PoW, it’s computing HASH rate, for PoS, it’s token/money. My ideas for Newton is we should and have to setup a systemic mechanism including the governance, collaboration, and incentives, by code usually. And finally we have a human-machine community with a totally new economy model. In my office, I have a copy of the Declaration of Independence written by native language, I think it provide the certainty with a low efficiency for the society then the prosper will come. I think blockchain is the Declaration written by code in 21st century to generate the certainty with a very high efficiency, this will change the world totally, and it includes the token usually, so Sir Isaac Newton will think it’s 21st century’s alchemy also, so I name my project Newton. (The professor is an expert about the constitution.) Can: Let’s go on with our second question; Why did you decide on building a project related to community economy ? What makes you think community economies will be relevant and powerful in the near future ? Could you please enlighten us with your ideas and your rationale for building an ecosystem aimed at community economy ? Xu: Throughout history, we have found that in the agricultural age, royalty dominated the distribution of values, and they were the center of their world, namely the world in which they were Conqueror. In the industrial age, capital has become the axis of value creation and distribution. Value creators other than capitalists can only enjoy limited returns. With the advent of monopolies, the situation has become more and more unequal, with capitalists taking excessive profits, and the gap between rich and poor growing ever wider. Therefore, in the industrial age, the center of interest of the world is the Capitalist. So today, we’re already in the Internet age. Over the past few years, the mobile Internet has made it easier to do business anywhere in the world, and it has already produced a few rich people who do not rely on capital. But this is not the end, and this minority should become a majority, including every one of us present. In this context, a new center of interest is about to be born – the Community. Looking back at history, from the agricultural era to today, logistics and information flows have been developing in the direction of decentralization. The transformation of the axis of capital flow from Conqueror to Capitalist itself is also a kind of decentralization. Therefore, don't believe that “decentralization” is just our dream - It’s a historical destiny. Can: Decentralization is bound to happen. It's not a dream and we already see that capitalists can lose power and will lose power. Great point. I believe that in future people will not have to rely on just a few selected politicians and governments. Internet and Blockchain along with decentralization will cause freedom to spread over the entire planet. Ender: Actually building economy based on community is a brave move. Everyone wants that but no one acts like this way. I hope Newton will lead the community how to engage well with the new ecosystem which everyone can get benefits directly from economic growth :) Can: One of our community members is asking if Newton is going to be like a blockchain based Alibaba. Is this accurate ? Xu: Newton is the infrostructure for the community economy, NewMall is a DApp on it. So Newton is NOT blockchain based Alibaba, NewMall is. Can: Newton seems to be strongly focused in South-East Asia (China, South Korea etc.) Does Newton plan to extend their operations in Europe / North America ? Will there be a Newton Office in Europe / North America. What are your marketing and expansion plans outside of Asia ? Xu: Newton will extend their operations in Europe / North America. NewMall will launch an English version. Can: Did you decide on which countries in EU ? Will the operation extension of Newton EU start in 2019 ? Xu: Until now, we don’t have specific plan. But I think 2019. Can: Newton has recently started an official OTC group in China. Soon an international OTC group will be launched. We don’t get to see official OTC groups with other blockchain projects. What was your rationale when starting an official OTC group ? What are the advantages of OTC in comparison to an official exchange listing ? Xu: OTC will be an important part of trading. Trading on exchanges will be difficult for NewMall sellers as they are not always familiar with blockchain. Compared to an exchange, OTC is even more efficient. Newton’s customer service representatives play the role of guarantor. In future, the OTC function will be embedded in NewPay. Can: People find OTC business risky but with a trusted guaranteer this should not be a problem. Me and my partner Ender have also done OTC business as trusted intermediaries. Good to hear Newton will be the guaranteer. What is the rationale for delaying exchange listing to March and starting OTC ? Newton could get listed on an exchange like Huobi, Okex, Bibox, Gate. Xu: In general, if a token/coin had a really good demands, it has to or should have a OTC market. For example; BTC. For the total BTC trading, OTC has 60% market share. 40% in the exchanges. But for most other tokens, they don’t have OTC usually. Because the real requests is very small usually. Secondly, for Newton, we’ll bring more people who don’t have much experiences about cryptocurrency before by NewMall. Especially for the sellers, in this case, OTC has better trading experiences. NewPay 1.1 will include OTC. It will be available end of February 2019 or beginning of March. It’s just like Huobi OTC. Can: Will the OTC trade proceed over a smart contract or will there be a Newton Team member as a guaranteer? Will the guaranteer be human or a machine (code) Xu: By code, but not smart contract. Can: One of our community members wanted to describe Newton in just one sentence to his friend however he could not so he wanted us to ask you. How would you briefly describe Newton in just one sentence ? Xu: Newton is Infrastructure for the Community Economy. Can: The E-Commerce background of Newton Team is quite strong. Do you plan to focus solely on E-Commerce through blockchain ? What would be the advantages of using NewChain for E-Commerce industry ? Xu: Blockchain-based online retailer NewMall is just one of our use cases. Firstly, transaction costs for sellers will be much lower, and consumers, service providers and other participants can get the incentive of Newton tokens according to how much they contribute. Secondly, user data is a new digital asset for users, and can be managed in the NewPay app. Users truly their own data and can take control by authorizing and pricing the data. Uninformed data leakage is prohibited. Thirdly, users can use NewPay to set whether to accept marketing promotions, as well as the kind of ad, price range, etc. Advertisers set marketing plans through a selection of marketing smart contract templates built into the system, including target users, incentive models, settlement methods, and adjustment rules. Merchants can achieve accurate advertising and peer-to-peer settlement with users, avoiding advertising fraud. Ender: Which applications besides NewMall will be launched on NewChain ? Xu: We will start building the worldwide developer community soon and many DApps will be developed based on NewChain. Ender: I heard your Open API, which is a key point for building a developer community like Ethereum did. Where do you see Newton Project in 5 years ? Xu: Our Open API is called HEP. Hyper Exchange Protocol. It’s introduced in the Whitepaper. I hope we have a very big worldwide community, I can’t tell the exact numbers. Community will benefit from the growth. Ender: Fair enough, we believe in Newton. Would you like to add anything to your words ? Xu: In 2019, the most important for Newton is to build a free and open global project. And hope more and more people to be involved in Newton. Thank you all. Moonetize Team: Thank you very much Mr.Xu for your time and taking care of the blockchain community.
I've put together a post that has, what I think, is all the possible (english) information on SmartContainers' ICO out there
Okay, so this is going to be really long in terms of posts here. I actually have to cut out some info to make it under 40000 characters for reddit... Typically in the market there are Currency and Utility coins. Profit-Share Tokens are relatively new, and while this ICO has 2 tokens, the profit share token is definitely the main attraction, as it's tied to a very, very promising company. This company is SmartContainers Group, and their tokens are SMARC (profit-share token) and LOGI (more on LOGI later). “Smart Containers Group, formerly REP AG (Swiss registry of commerce, UID: CHE- 141.664.882), is a Swiss based, high tech company that provides the safest temperature controlled containers to transport sensitive pharma goods and food around the world. Our purpose is to secure sensitive goods and to make sure no compromised product is ever delivered to anyone.” - whitepaper
Our containers transport some of the most expensive and temperature-sensitive goods in the pharmaceutical industry. These goods need a particularly careful and accurate protection. Through our highly secure and efficient container design, we assure the best possible protection against temperature excursions. In combination with a cutting-edge technology, it enables us to provide containers with easy handling, maximum loading capacity and highest performance on the market.
More than 50 man-years of research and development poured into the creation of an unprecedented, highly efficient insulation. This cutting-edge technology reflects a maximum of radiation while minimizing heat conducting. It is the most patent protected insulation technology on the market.
The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature. Consequently, SkyCell containers are automatically recharged in a cooling chamber without any manual interference. Nothing can be mixed up since all parts are integrated and fixed.
The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature.
“oh, our product needs better cooling? Okay, let’s just invent a better cooling technology, no biggie”. Who heads that team, Rick Sanchez? I asked about this tech during their AMA, here's what they said:
Cooling technology: Yes, our containers are state of the art. Nico has developed a cooling material that freezes at 5.5°C. So if you put it in a cooling chamber that has a lower temperature, it automatically freezes and if the temperature is higher it melts. Basically, the system works like a huge ice cube that is empty in the middle. The centre of the ice cube has a steady temperature of 0° until at least 1 side of the ice cube has melted. It's the same principle for SkyCell containers, but at 5.5°C
The patented-in house developed cooling technology stores five times more energy than traditional methods to keep the container at a consistent temperature. After use, they are ‘recharged’ in a cooling chamber without any need for manual intervention, increasing productivity of the business and reducing cost.
I’ve forgotten to mention something so far about their product [the containers]. They’re literally (not figuratively, literally) the most advanced container ON EARTH.
From their ICO FAQ: Where do you position yourself compared to Envirotainer? Envirotainer is the number one container company with the largest container fleet today. We are currently fourth globally, but we reached this position in less than 5 years operating in this space. SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.
We are currently fourth globally, but we reached this position in less than 5 years operating in this space.
Another thing that’s pretty impressive, 4th largest company in their entire field… after just 5 years… but back to the main point of that statement: “SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.”.
Watching a video from a blockchain conference in Switzerland, I got a fair bit of info from the CEO, Richard. I’ll be quoting him in that video a few times in this post, and here’s the first: “In my industry, we talk about how many shipments go wrong - and the average is 8.5%. So for 8.5% of pharma shipments for example, the [proper] temperature is not maintained. In our case [with Smart Containers], it’s less than 0.1%. That’s 75 times better. Richard also speaks in this video about how they will be able to eliminate the amount of shipments happening every year, due to the decentralized nature of this whole system, there will be less need to send packages to places far from their end destination, to make the delivery easier on the shipping side. We’ve all had packages come from across the ocean, only for it to fly 1500 Km past us to be shipped back our way next week…
”There are 200 documents are required, or exchanged, to make one shipment happen… we estimate we can bring this down to 8” Richard Ettl, CEO Logistics is an old industry. it started out on paper, moved through the fax, early ages of the information era, early email, current email, and is now ready to move onto the blockchain. LOGI CHAIN GOALS
Eliminate paper and disconnected information like email from the shipment process
Automate billing throughout the supply chain and reduce transaction fees by accepting cryptocurrencies as payment
Provide services for the whole logistics community, including logistics players, airlines, sea freight companies, customs brokers and more
“By using blockchain technology, we can decentralize logistics and create autonomous containers – container 4.0. This container will know who’s renting it, when the contract ends and when to invoice the customer. That’s why we’ve created the LOGI CHAIN platform. It allows us to create a seamless, fully integrated, digital logistics process that everyone can use for free.” - Richard Ettl, CEO “Well-established processes often generate inefficiencies that we simply accept. And of course everyone knows change is painful. But at Smart Containers, we see things differently. Change is the only way to improve. We think that every process should not only be optimized but redefined and redesigned. Logistics today is highly centralized. It’s incredibly inefficient. So many wasted kilometers to huge warehouses.” Nico Ros, CTO
There will be more than one blockchain at play with this system as well. The info that people deserve to know will be available on a public blockchain like Ethereum, the weight, material safety data sheets, the storage conditions (which as said up above, 8.5% of pharma shipments have issues with, and Smart Containers brings that down to below 0.1%), as well as at the same time, the info that shouldn’t be public to everyone (Bills, invoices, etc) would be stored on a blockchain like Fabric or HyperLedger. LOGI will be the fuel for the LOGI Chain. CMO Carla elaborating on LogiChain:
The LOGI project finds good echoes with logistics players but even more with blockchain infrastructures like NEM, EOS and NEO. Emirates for once was enthusiastic about the project and definitely wants to join the foundation. As you know, the government of Dubai is focussing on applying blockchain asap to multiple industries. We are also in exchange with ShipChain, who are running a similar project in the US. Our goal is to collaborate with a maximum of projects around the world. The LOGI Chain Foundation will be set up in July, right at the end of the ICO. Dr. Fabian Schär, our valued Advisor, will be in charge of defining how the LOGI Chain Foundation will develop in the next 2-3 years. We think that we will be able to put out a PoC based on SkyCell until the end of the year. We have not yet decided on which blockchain platform to build the LOGI CHAIN. We are highly delighted with NEM since they are already operative and offer a private and public blockchain on the same protocol.
One platform to get all players up to speed, to handle all documents and permissions in one place. No more floods of emails. No more polluting the environment with senseless printing of documents. No more compatibility problems and clashes of individualized systems. To show you how vast the amount of documents (and by this emails circulated) find a list of common documents needed for one air freight shipment below: Documents of origin, Material safety sheet, Airway bill, Bill of lading, Transport order, Customs declaration documents & bills, Invoices, Product data sheet, Storage conditions, Transport conditions, Multiple service provider billings, Licenses, etc. This adds up to the gigantic number of about 200 manually processed emails per shipment.
A combination of public and permission based chains will allow for all players in the ecosystem to store documents needed in the logistics processes. We are looking at multiple platforms to build the LOGI CHAIN on top including NEM, Fabric, Corda, EOS and NEO.
I’ll be using bits and pieces taken from their white paper and LinkedIn pages. The Smart Containers team includes over 80 people, and is growing every year. Richard Ettl - Co-Founder, CEO - LinkedIn Richard wanted to know how things worked since he was a child. He has a passion for engineering and management. Growing up in Vienna, Austria and studying in Stanford USA and the University of Fribourg, Switzerland, he started his career at Bobst Group, a leading producer of packaging machines worldwide. In 2009, he decided to launch his own business together with his university friend Nico. After wide reaching scientific research and various proof of concepts, they founded today’s Smart Containers Group as well as SkyCell in 2012. Since then he has lead the companies to commercial success, seamlessly finding the right partners and investors at crucial points, as well as convincing more and more clients of the unrivaled benefits of the SkyCell offer
Nico Ros - Co-Founder, CTO - LinkedIn Nico Ros, Chief Technology Officer & Co-Founder Nico is the mastermind behind Smart Containers Group and its technology. Growing up in Basel, Switzerland, he discovered his passion for mathematics very early on and therefore came to study mathematics, physics and engineering. Being a natural talent, he had already won prestigious architectural prizes during his studies and quickly became managing partner at ZPF an engineering company in Basel. He has constructed the most expensive buildings in Switzerland in collaboration with the famous architects Herzog & DeMeuron. Nico’s key strength lies not only in his state of the art engineering know how but also in his efficient management of teams, leading highly complex, multimillion projects to success. However, engineering alone did not suffice Nico. Having a passion for business and management, he decided to complete additional studies at the University of Fribourg, meeting Richard along the way. Everyone who meets Nico rapidly becomes aware of his sharp mind and his passion to invent new technologies. It is therefore not surprising, that both him and Richard ended up together where they are today.
Andreas Ernst - CFO - LinkedIn Andreas is the true logistic finance expert in the company. He spent all his career in various finance roles of logistic service providers: from Swissair (today Swiss International Airlines), to Swissport (biggest ground service provider for airlines) where he filled the role as regional CFO for the Middle East and Africa. His last role before joining Smart Containers Group was CFO of Unitpool (now called Unilode), which is the largest independent air-freight container pooling company in the world.
Thomas Taroni - Head of IT - LinkedIn Thomas is an IT-architecture mastermind. His first claim to fame is the creation of the largest media database, shared by all media houses in Switzerland: more than two million articles are uploaded every year, then queried and shared seamlessly and efficiently among multiple news companies. He founded his own IT company to design IT architectures focusing on process automation (eliminating paper and endless emails), and as a result won other clients (large banks, pharma companies and even publicly tendered government contracts). SkyCell became his client, when they needed a bespoke asset management system to track and trace their containers around the world. He joined SkyCell four years ago and since his tenure, has become the head of IT for all companies of Smart Containers Group.
Carla Bünger - CMO & Business Development Manager - LinkedIn Carla is a marketing and sales expert. Building strong brands on solid foundations and convincing clients to buy its underlying products gives her huge satisfaction. She collected her experience through managing various international consumer brands, for companies such as Nestlé, Lindt and Coty. However, she discovered her passion for Blockchain technology roughly 18 months ago and has since been actively participating in the com - munity of Crypto Valley in Switzerland. The sheer endless application possibilities make her strive for more and she is drawing energy and enthusiasm from developing new business schemes around the subject. Her “can do” attitude helped to put together the high level advisory team around our ICO.
Strategic advisor: Oliver Bussmann, is CEO and Founder of Bussmann Advisory, former CIO of UBS and SAP as well as the President of the Crypto Valley Association. “our main advisor” - Richard Strategic advisor: Marc Bettinger, Altcoin and Blockchain specialist and investor, Co-Host Altcoin Meetup Switzerland (Bitcoin Association Switzerland) Strategic Advisor: Fabian Schär is Managing Director of the Center for Innovative Finance at the University of Basel. His research focus is on the potential and applications of blockchain. In addition, he works as a lecturer in blockchain technology at the University of Basel, the University of Applied Sciences in Business Administration Zurich (HWZ) and the University of Applied Sciences Northwestern Switzerland (FHNW).
Technology Partner: Lykke Corp. our highly trustworthy expert in smart contract programming and ICO execution. (Lykke also audited their ICO smartcontract) Legal Advisor: Gabriela Hauser-Spuehler was part of the team of MME, the well-known law firm in the crypto space. Communication Advisor: David Wachsman and Emma Walker from Wachsman PR, the crypto community’s most experienced PR agency. Richard also states they hired a lawyer that worked on the Ethereum ICO, but I don’t know if it’s Gabriela up there or another person.
Min. investment = $500 USD for ICO, $5000 for presale (largest portion of supply), $250k for private sale. There are two tokens as mentioned before: SMARC and LOGI. I’m more into SMARC because it’s safe (safe once the payouts start of course, as soon as a coin has a clear value like this, BTC moving up or down doesn’t matter to you), as well as obviously very attractive if you think of the long term profits.
Every year, the company’s annual shareholder meeting takes place, during which the shareholders will agree (or negotiate) on a proposal by the Smart Containers’ board about how much of the company profits is to be paid to the shareholders that year. 20% of that amount is taken, converted to ETH, and fairly distributed to the token holders.
Since the cofounders and all token holders will have aligned interests and incentives, we are all in a positive-sum-game. We do not want to use the ICO as a speculative springboard, but as way of funding innovation and change the world. Both Richard and Nico are committed for the long-term and not interested in a quick exit. Our aim is to use the collected funds to continue pushing the following business areas:
• Continue scaling of SkyCell in both B2B and B2C • Establish FoodGuardians - the main goal if the ICO is to build and scale FoodGuardians • Establish the of LOGI CHAIN Foundation • Regularly evaluate organic scaling vs. M&A • Evaluate IPO at relevant time
We are raising funds through an ICO to grow our container businesses in pharma and food. We push SkyCell from no. 4 to the no. 1 provider in the next 2-3 years.
The CEO in this video explains pretty easily why one would want to put money into this ICO over others:
“Why invest? [referring to SMARC] Simple question. It’s an up and coming company with revenue, multiple millions a year, most ICO’s have white papers…[we have much more than that].”
That's pretty clear. You can invest in random Xcoin ICO where they have some half-baked token that might see some level of adoption if it isn't just a cash grab, or you could invest in an actual multimillion-dollar company and be a part of it as it scales into what could potentially be a multibillion dollar entity.
How will the profit share payouts work? 20% of dividends will be paid in ETH to all holders of SMARC tokens that are in circulation at the time of the payout. A given business year ends on 31st December each year with a general assembly held annually around mid-February. Therefore, dividend payout is expected around mid-March each year. In the event of a total sale of Smart Containers or the exit of one of its lines of business, the holders of SMARC tokens will receive a 20% participation of proceeds
Is there a future profit statement? No listed company can make an estimation or a commitment to a future return. To do so would neither be professional nor ethical. For Smart Containers, as with any company, profits may often depend upon a number of external factors, such as the general trust in blockchain technology. The question to be assessed is how fast a new disruptive technology can replace an old system. We believe that Smart Containers Group is well-positioned to facilitate this disruption, with a strong plan going forward and experienced team working to successfully implement blockchain technology in the supply chain. 5 years of industry experience, the 4th largest container fleet and a motivated team; that’s more than any idea whitepaper ICO.
What specific rights come with my investment? The SMARC token is a profit share token. When the company generates profits and the company’s general assembly approves a dividend payout, 20% of the defined funds attributed to dividends will be distributed proportionally to holders of SMARC tokens in circulation. In contrast, the LOGI token is a utility token that can be used to pay for transactions on the LOGI CHAIN, an open-source logistics platform for all stakeholders in the logistics field with the goal to create a seamless, fully integrated, digital logistics process.
Smart Containers will pay out a dividend to SMARC token holders. This would imply that the SMARC token is a security token. Are you compliant with financial regulation? Smart Containers tokens is not classified as a security in Switzerland under current law. This may be different in other jurisdictions such as the USA. Hence the SMARC token is not eligible for sale in certain jurisdictions. Our benchmark is the Modum token sale from June 2017. We have elected to use the same legal structure as it was accepted by regulators in Switzerland and well received by the ICO community and exchanges.
What is the vesting schedule for team and advisors tokens? Everyone will receive SMARC and LOGI tokens at the same time. Minting will occur at the end of the token sale. Advisors will have lock up periods depending on how many tokens they receive. Team members have a lock up period of 12 months.
Are SkyCell containers an approved ULD according to IATA regulations? SkyCell containers are exempt from the ULD rules by IATA. This has the huge advantage that, compared to our competitors, the SkyCell container can not only fly but can also leave the airport. Skycell containers are therefore a door-to-door solution. Our competitors’ containers, on the other hand, have to be unloaded at the airport and packed into a new transport unit in order to continue their journey from the airport to the final destination, increasing the risk of temperature excursion, and loss.
Are there financial statements? If so, are they audited, and by whom? Yes, there are financial statements for all our companies. They are audited by PricewaterhouseCoopers (PwC). To preserve our competitive advantage in the market, we have decided not to publish our financial figures online at this moment in time.
Are Modum and Smart Containers competitors? Modum and Smart Containers are not competitors, more future partners. Modum rents/sells sensors to track and trace shipments on temperature, whereas Smart Containers rents/sells the containers, in which products including sensors are put inside. Of course our containers have sensors that record data for quality control, but Smart Containers does not sell these data sets. In the end Modum and Smart Containers will address to the same clients - Smart Containers provides the container and Modum will put a sensor in it.
How many airlines fly SkyCell containers? In addition to our major partners, Emirates and CargoLux, more than 30 airlines fly SkyCell containers.
What destinations does SkyCell serve? SkyCell is a global company. We are shipping containers around the world and reach each pharma client within 24-48 hours. This is accomplished through our airline partners, that can fly ready-to-use containers to more than 150 airports.
Profit Sharing Mechanism
During the annual shareholder meeting, the shareholders in the form of the general assembly (Annual General Assembly) decide on a proposal by Smart Containers’ board regarding the usage of profit as recognized in the annual financial statements of Smart Containers in the form of distribution of dividends. Distribution of a dividend on shares shall be announced in the “Tokenholder Information” section of the Smart Containers website; such announcement shall include the date and time of the dividend payment and the dividend amount per ordinary share in USD as well as the ETH/USD exchange rate which shall become applicable, as derived from publicly available and reliable quotes. Within 20 business days of the date of the resolution passed by the Annual General Assembly regarding dividend payments to the shareholders of Smart Containers, Smart Containers will make available a Profit Share Amount to each authenticated Tokenholder equal to 20% (twenty percent) of all dividends agreed to being distributed per share to the shareholders, divided by the total number of issued SMARC Tokens (To further explain for clarity, all Tokenholders combined will receive an amount equal to 20% of the amount received by all shareholders combined.). SMARC Tokenholders shall receive these payments in ETH, at an average exchange rate specified by Smart Containers.
“Imagine your tomatoes tasting 1 day ‘fresher”. One of the main reasons for the SMARC/LOGI ICO is to raise the funds to fuel the growth of FoodGuardians alongside SkyCell. According to their CEO, SkyCell is constantly asked “can your containers be used for food?”, but there are several issues with shipping food and medicine together. This is where FoodGuardians comes in.
FoodGuardians offers the next generation of reusable containers and boxes to transport regionally and globally temperature sensitive food products.The combination of patented cooling technology, cutting edge insulation and Blockchain infrastructure allows to redefine the product’s freshness and traceability.
Our vision is to allow your local butcher to order your favorite steak directly from the producing farm and sending it straight to your grill party. (All without the buyer even leaving his home, let alone going to store)
Advantages of using FoodGuardians
Cost efficiency vs. existing solutions
High durability with longer container life cycle
Secured food safety through track & trace on Blockchain
Sustainable and recyclable, reducing CO2 footprint
Longer runtime and performance than existing solutions leads to higher freshness level
Opening up new revenue streams by disrupting today’s delivery cold chain possibilities
Easy handling and recharging (plug free and are automatically recharged in a cooling chamber, reefer container or reefer truck without any manual interference)
Each FoodGuardians container can be tracked around the world on:
The phrase “Imagine your tomatoes tasting 1 day ‘fresher” has been used by the CEO a couple times, and is more or less the FoodGuardian slogan. This is referring to the fact that not only can FoodGuardian and SkyCell containers save cost, CO2, and man/brainpower, but they can also make shipments faster when combined with the blockchain (LOGI Chain) and Smart Contracts. when everything is accounted for at every second with almost as little room for human error as possible, things are far more efficient.
We are launching our first food application – we will announce a collaboration before June for a solution that can be used to ship overnight online fresh food to people homes and can be used to supply hospitals and restaurants as well.
FoodGuardians and SkyCell are two of the many possible use-cases for SmartContainers' tech:
"Other use cases. Yes indeed. We are just getting started!! However, it makes sense to focus on scaling SkyCell and FoodGuardians before starting something new. In the end we are a tech company. We have defined 7 use cases around the insulation technology. We have started with the most relevant 2 but will certainly continue."
SkyCell is looking to bring a business-to-consumer solution to market, that was developed and tested with one of the top 20 pharma companies in the world. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet aside from styrofoam containers that are disposed of after one use. The SkyCell ONE can also be co-branded by a partner, such as a pharmacy chain that could rent it out for home delivery, business trips or even holidays. The product is temperature stable for up to 72 hours, can be recharged passively in a fridge, or temp-controlled warehouse or truck. Currently it’s best in class for size and weight, but that’s probably down to there being no competition! Trials have been undergoing since June 2017 with an orphan drug product, and go live is expected in Q2 2018. - Cryptowithoutborders article
We are launching also additional sizes – so we are launching a very small box to ship pharma directly to patients' homes. Amazon just recently announced that they will postpone entering the pharma distribution space, as they do not have the technology to ship to patients homes in a temperature controlled manner. We are bringing this to market later this year. This will increase the convenience of patients and reduce the costs in the healthcare system.
I just finished listening to this podcast (20 minutes long, but you can skip the intro stuff to make it shorter of course). I’m now twice as excited as I was before. I’m going to type out a large chunk of the podcast. I’ll be paraphrasing slightly, so I don’t have to type every “uhh” or anything, plus he sometimes starts one sentence before finishing another.
“We have some prototypes, that we built, for example, for the Children’s Hospital here in Zurich, where we’ve designed a container that can transport living skin.” [Interviewer; “Wow.”] “So for young children that suffer skin diseases that could be almost fatal, like cancer, they grow this… patch of skin, and then that skin needs to be transported, and kept at body temperature so… roughly 37 degrees Celsius. There we designed them a box that did this for 10 days, autonomously.” [“That’s amazing…”] “Yeah, we did this because we wanted to learn how to interact and work with hospitals, this is a highly specialized application, and the next step could be organ logistics, because most of the organs today are transported on ice, because that’s the standard set in the 70’s, but studies have shown that if your transport certain tissue at room temperature, it is significantly better for the tissue than if you transport it on ice.”
I can guarantee you every major hospital on earth is going to want their hands on this container that can allow them to transport both living skin, and potentially organs in the future. The fact that in this day and age we’re still throwing people’s kidneys/lungs/etc in a bucket of ice is a little weird. From the recent AMA:
Our Container BT5: The name stands for Body Temperature 5 L content. It transports skin grafts that was cultured for children with burn accidends. The temperature range is 37°c. Nico (our CTO) was so taken by this project, that he developped this container only for this purpose for a company calles Cutiss (a start-up from Zurich). We currently only have around 10 of these containers in use. It is not produced in on a large scale. We could market it, but have bigger opportunities to tackle first with the SkyCell one. You can only focus on 1-2 projects at a time. The BT5 is a beautiful project, but will need manpower to scale production and then manpower to market it.
Envirotainer, The leading company in this field, has only a matter of time before they’re overtaken. SmartContainer Group’s containers are proven to be superior (5x as efficient, 35% lighter, self-charging, etc, etc, read up above for the whole deal). According to the Googles, Envirotainer’s best year (2015) saw a profit of $50,000,000. It’s logical to assume that Smartcontainers will surpass them as the top dog, and at the same time be pulling in much more profit over time by serving both pharma, and the food industry (Envirotainer only does pharma). By accepting cryptocurrency payments, saving them a fair bit in fees from cross border payments, they’ll also net a small % more in profits annually. I asked about the state of their competition. Turns out, Envirotainer (or more specifically the private equity firm that owns them) offered SmartContainers a buy out of $125m. This was one of countless offers they've turned down, because they believe they can scale the company to much further value. The firm selling Envirotainer has been trying to find a buying for the past 3 years, at $1b. No one will buy them, because anyone who knows their shit in that industry knows SmartContainers will overtake them in no time. From April's AMA:
Our 2 biggest competitors are for sale. Envirotainer (biggest player) is owned by a Private Equity company that wants to sell it for 1 b USD. it already tries to sell for 3 years. SkyCell is considered a threat to the valuation of Envirotainer, since we are winning one client after the other from them. While Envirotainer is the largest player with a huge sales force and well established client contacts, they are still operating on an "old" technology. SkyCell is technology leader, has lighter containers, reduces CO2 emissions and is considered to be the future.
2 days ago, a private equity company requested a meeting to see the valuation of SkyCell and evaluate to buy. We have already been approached several times. We are treated as the bride in the market. However, Richard and Nico think we can scale the business much more before we should consider to sell. We are just getting started.
We have won 3 large accounts in Q1. Today we have 1200 containers. By the end of the year, it will be 2000. Our business plan estimates that SkyCell will be profitable in 2019. Therefore you can expect first dividends in Q1 2020.
Another redditor asked for "optimistic expectations for potential profits" during their ama, here was their answer:
How does a profit of 21 m USD on Smart Containers total in 2020 sound? This figure will then quadruple in 2021 to 76 m USD.
As you can see, this would mean that by 2021 tokenholders would not even have broken even yet. I myself am fine with this, i'm expecting to hold SMARC until the end (be it I die or the company sells, in which case i'll enjoy that fat exit payout). The potential gains from 2020-2030 are far more worth it to me than trying to make it in one year with heavy risk. So why invest in this over a random shitcoin that might moon? If you're here to turn $1000 into $1m and get out by the end of the year, good luck, don't invest in smarc. If you're realistic and are aware that crypto will only be so volatile for so long, go ahead and think about putting a bit of your portfolio in something that will have actual value, lasting long after the shitcoins die. Crypto market could crash at any time, but that doesn't mean that SmartContainers as a company goes anywhere, nor their profits. I don't think I need to explain any further.
A 5 year old company, with over 100,000 collective hours of R&D put into their products, with currently just under 100 innovative patents, that is already the 4th largest of it’s kind in the world, with the top product in their field on earth, is doing an ICO that is fully backed by the Swiss government, with a token that is due 20% of all future shareholder payouts, as well as 20% of any potential exit profits (the company being purchased). They’re already this big, and you can benefit from both their success, and their expansion into new markets. There’s nothing stopping SmartContainers Group/SkyCell/FoodGuardians from working with VeChain in the future either. Or Walton, or Wabi, Devery, OriginTrail, Ambrosus, all of em.
Should you invest in this? I sure am, and am very glad to even be offered the opportunity, but it’s up to you. Read through this post if you haven't yet, then click these links and decide for yourself. Don't go all in of course, since this is a profit share token, there is much less risk, therefore less short term reward. The long term reward is what we're looking at here, don't buy into the ICO and then complain that you aren't getting 1000% ROI payouts by year one.
Testimonials “Not enough trolling” - nanoakron, XMR Contributor “you are so obviously a shill” - ButtBazaar, in comments on the ETH survey “Wow.” - jstolfi, in reply to the ETH survey Survey ID: 00002 Coin: Monero (XMR) Client: jwinterm Executive Summary Monero is a leading privacy-oriented cryptocurrency. It was originally forked from Bytecoin which introduced Cryptonote, and whose launch was so bad they needed another chance to get it wrong. After their launch, they were a proving ground for Bytecoin exploits. Since then, Monero has become the leader in Cryptonote comedy gold, surpassing Bytecoin. Its future promises exciting drug market comedy gold, while the development team is a zoo of likely furries. 6 Top Comedy Gold Veins
Slow development - Likely due to the amount of time spent yiffing, “nice-to-have” extras like a GUI take a while to be released. After more than two years since at least one possible design for multisig in Cryptonote (curiously enough, from a paper co-authored by Gmax), multisig is still not in Monero yet, although still in development.
Launch issues - Launched because of complaints that the Bytecoin launch was unfair (i.e., not announced on Bitcointalk), Monero launched after about a week’s notice without an overabundance of communication from its founder. It released without 32-bit support, without a GUI, and without a mac client which according to BCT trollscritics is functionally equivalent to a premine.
Fenty - Monero is poised to take a commanding lead in the drug markets because of its combination of market share and stronger privacy commitment. Fent is known to be the leader in comedy gold potential for drug markets. Someday, there will be a major incident linked to a fent shipment arranged by a cryptocurrency. If that’s Monero, the fallout could be substantial.
Bleeding Edge: Monero started out as a clonecoin, a relaunch of Bytecoin, the first CryptoNote coin. However, it is in a position which is I think unique, or at least quite rare: despite starting as the clone, it is now leading the original upstream in market cap. Further, as a result CryptoNote / Bytecoin exploits have been demonstrated first on Monero. Monero has also developed its codebase such that it could not directly import upstream easily like most clonecoins could. Like all of the bleeding edge cryptocurrencies, Monero may produce more comedy gold from bugs being exploited on the chain.
51% / miner attack: Monero has had at some points large concentration in mining. As with most if not all cryptocurrencies, this centralization can lead to miners having significant control over a coin. So far, there doesn’t seem to have been any direct impact on Monero from this, and there may not be any effect. But Bitcoin and Ethereum have both had issues relating to functional centralization in mining in one way or another. Monero could as well. If anything does develop here, the popcorn futures could be explosive.
A brief history of comedy gold in Monero
There's an old proverb that says just about whatever you want it to.
- Anonymous (from this page of anonymous quotes) In the beginning there was Bytecoin. Of course, the original bytecoin was actually just a basic BTC clonecoin. And I think there was at least one other Bytecoin not the one we’re talking about here, since deceased as well. And when exactly this Bytecoin started is a matter of no little dispute. But, whenever it was, it was. By the time it was “discovered” and posted on BCT, about 80% of the total supply had been mined. Regardless of what exactly led to this, there were many in the cryptocurrency community on BCT who wanted a relaunch to use the tech without having to buy into the existing distribution. Then came “bitMonero” (first reference BCT ANN). Launched on relatively short notice, with a de-optimized miner inherited from upstream, no mac client, without 32bit support, and without a GUI. The original developer of the bitMonero fork, thankful_for_today (TFT), supported the network through an initial bug inherited from upstream [ 1 ]. TFT disappears from the thread for a while, and some of the community pull together to make a sort of rebranding, changing to “Monero”, making a new ANN (second BCT ANN listed in references) and forming a new team to run the coin. In the meantime, TFT made another Cryptonote based coin, Fantomcoin, but TFT continued to try bitMonero development as well , before finally abandoning the attempt again. And then the coin gets pretty boring. There’s a potentially serious issue revealed  which was inherited from Cryptonote and potentially even a deliberate backdoor left in, but the fix is in pretty quick and the ecosystem is small enough there’s not really an opportunity to exploit it further. While development is slow, the coin continues to work and move on. The coin gets adopted on one of the darknet markets in 2016, and around the same period it sees a surge in market price. While there is potential for comedy gold fallout from this, there hasn’t been anything obvious so far that I’ve seen. Researcher’s Narrative: After wrapping up the ETH survey, I put up the new $5 survey special sign and settled in with a bottle of cheap vodka to contemplate deep questions like how I got here, where I’m going, and why the ground is swaying like that. By the time I woke up, the bottle was empty, but there was a $5 bill slipped under the door with a note which read “Monero?” After only a few short hours of pondering the note and where the vodka had gone, I knew what I had to do next. A dark night in a world that never sleeps and knows how to keep its secrets...But on the 12th Floor of the Acme Building, one man is still trying to find the answers to life's persistent questions: Guy Noir, drunken sotprivate comedy gold surveyor. Thanks Narrator. Although I can do without the judgemental commentary. At least I struck it out. I’ll strike you out! But this is going even more off-course than usual. I should really make at least a token effort to do my job. So off I go to the furriest corner of cryptocurrency, and I ask the Monerons what they think their greatest weaknesses are. A rather clever move, if I do say so myself, as they’ll either do much of my job for me, or they’ll say they are entirely without fault and thus provide me with more fodder about how unselfaware they are! They rather surprise me by providing solid responses, with only a rather token “we’re flawless!” attitude to be found. This actually makes my job somewhat harder, as now I have to try to figure out whether the seeming lack of major flaws is a result of such a biased “research” method, general laziness, or being co-opted by actually enjoying the community. So I take the only logical route and go on a weeklong acid binge. At the end, I realize I’m an insignificant mote in an uncaring universe where humanity itself is an unnoticed blip. The futility of civilization and life itself is obvious. After some further reflection aided by bottles and pipes, as well as overdue bill notices, I realize that while all of this is true, none of it is relevant, and my foggy mind is further from any useful answers than when I started. Disclosure of biases: I was hired to write this article with $5 in BTC from jwinterm who is a participant in Monero. In the thread where I asked Monerons what their greatest weaknesses are, I learned a bit about their development process and decided I wanted to pitch my services to them. This has unquestionably made me biased. However, I did do my best to try to figure out where the critical flaw was to maximize the comedy gold yield. In coming up short, I’m not sure whether I’ve missed flaws or simply blinded myself to them. I know there are additional paths to find more comedy gold. I should ask the Bytecoin community what they think of Monero. And DASH and etc. to try to find all of its critics. But this piece must stand as simply an initial survey and I must move on to my next step. References
[ ] https://bitcointalk.org/index.php?topic=563821.msg6147116#msg6147116 - states rationale for not using Bytecoin rather than Monero (presented as Bytecoin clonecoin at this point) as being “Also the fact that cryptonote/bytecoin was hidden deep for the last few years and was being mined by a "big" unknown community the fork would give people a fair start on this new technology.”
[ ] https://bitcointalk.org/index.php?topic=563821.msg6286990#msg6286990 - Johnny Mnemonic, “There may be no pre-mine, but not a single step was taken to make this coin any more accessible than BCN. An easy GUI miner is super critical for early adoption, as is a cross-platform wallet that can be used out of the box. So now the only miners are the same few people willing to fuss around in the command line.”
[ ] https://bitcointalk.org/index.php?topic=563821.msg6300505#msg6300505 - “The problem is in block generation code. In one of last updates in Bytecoin there was a bug introduced: it calculates extra-size penalty the wrong way. As a result we see that a mined block isn't accepted by the network. I will consume the big transaction now into correct block. As soon as network accepts this block I will release new mining code to git.”
[ ] https://coinmarketcap.com/currencies/fantomcoin/ - Fantomcoin, merged mining cryptonote coin. Gets mentioned in BCT XMR thread since the cryptonote world is relatively small, with Bytecoin being the other one I know, and the reference implementation which isn’t actually a coin. (Subsequent to writing this learned about other ones, and learned Fantomcoin was created by TFT (original creator of BMR which was rebranded to XMR))
[ ] https://news.ycombinator.com/item?id=7765455 - nullc on zerocash vs bytecoin; “(And come on, I'm not usually one to lean on authority— but you ought to believe /me/ when I say it's not copying Bitcoin and that it's doing something very useful and interesting for cryptographic privacy)”
[ ] https://bitcointalk.org/index.php?topic=583449.14980 bookmark at page 750 in case computer crashes before I’m back from smoke break; actually an interesting page; all about talking about changing the emission rate and what is fundamental and unchangeable and who needs to approve changes. Very core cryptocurrency discussion.
Project Ethereum auto payment switch... Wow!!! My legs are crossed and waiting in anticipation for my $$$$$ in Ethereum.... The project is real and you can still sign up.... Guess many of us will rush in once the testimonies begin to flow..... There's alot of time cos PE has come to stay... Sign Up and build your team... Over 140 in my Team.... Dev-team proudly presents: Ethereum Secrets In a long tedious line of repetitive quests conjured with a ancient copy'n'paste formula dawns another winner from the dev-team. But wait, there is more: Have no anxiety that the quest will disappear into oblivion after being delivered! Meet the OPEN Development Team Leads! One of OPEN’s Developer Team Leads, Vadim, had an awesome story about how he came to join their team. This was a letter he wrote addressed to the rest of the community. We hope that you are as excited by his passion as we are! Hi! My name is Vadim. I have been programming for more than eight years. Being the second most popular crypto platform, Ethereum’s cryptocurrency Ether (ETH) attracts many investors. Bitcoin and Ethereum are often being compared, but they only share the same idea; Ethereum is adding new features to its network. To comprehend what Ethereum really is, it is essential to comprehend Internet first. eth_listTransactions is very much needed for Ether to Ether transactions. For wallet devs we need a way to present this information to users so they know how their Ether was spent and when it was spent and which TX hashes they occurred in. Adding a separate persistence layer to store this data for easy access is cumbersome and would have to be constantly updated on the client side.
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