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It is a fact that with the passage of time the uses of blockchain technology have witnessed a tremendous increase. China is on the top of the list in this regard. Main reason behind it being that China is the hub of tech startups. Due to so much importance of China several companies have been trying to launch setups for their upcoming blockchain technology chains in China. Recently JD.com announced plans to launch its accelerator program for artificial intelligence and blockchain startups in Beijing this February. And now the launch of a Chinese Blockchain Industrial Park is in the news. This project will be backed by a 10 bln yuan fund which will be partially backed by the Government.It is also being reported that well-known Bitcoin (BTC) investor Li Xiaolai and Blockchain “celebrity” Lao Mao, will be two of the managers of the fund.

latest blockchain news

According to latest blockchain news the above mentioned fund was announced on April 9, during the opening of the Hangzhou Blockchain Industrial Park China. This fund is named as Xiongan Global Blockchain Innovation Fund financed by the Yuhang District Government. Thirty percent of these funds would be government-guided. The fund will be managed by the Hangzhou Haoyu Investment Management Co. and the Future Science & Technology City Administrative Committee. Hangzhou city in Zhejiang province, home to e-commerce giant Alibaba. This industrial park will also serve as an incubation center for the startups.

History of Hangzhou Haoyu Investment Management

Hangzhou Haoyu Investment Management is mainly comprised of two big names, the Handan Investment and INBlockchain. The previous projects of these two companies included:

  • EOS
  • Qtum
  • Zcash

The fund’s announcement and the opening of the blockchain industrial park has played vital role in further establishing the position of Hangzhou. The government in Hangzhou has already portrayed the blockchain technology as the most advanced innovation. Even it has been ranked just behind artificial intelligence and virtual reality in most cases.

Regulatory Uncertainty

The announcement of that fund has hit the news  just weeks after the plans for an international Chinese Blockchain Center were cancelled over legal technicalities. Despite a wave of enthusiasm, all those companies must deal with the regulatory uncertainty in China with respect to blockchain technology and crypto industry. No doubt these restrictions a part of the Chinese Government strategy to control capital outflow and corruption. This is the sole reason behind China’s strict actions against cryptocurrencies and initial coin offerings.

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Best Auction Sites and Platforms for Bitcoins

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Members of the Bitcoin community are always looking for ways to buy and sell products in exchange for bitcoins. Fortunately, several sites make that possible by offering secure and safe platforms for sellers and automatic escrow protection for buyers who bid to purchase their desired items on sale.

The following auction solutions have gotten a lot of attention over the past couple of years:

OPENBAZAAR

Best Bitcoin Auction Sites

OpenBazaar is a top Bitcoin auction site for everyone looking to purchase or sell all sorts of items in one place. Although it is believed to be a normal shop on the internet, it does offer some auction functions as well. There is no limit as to what items can be sold on the platform. Also, OpenBazaar’s peer-to-peer nature means there is no company or middleman that can remove or block listings, charge fees, or hold money. By accepting bitcoin payments, sellers are opening up to their offering to the rest of the world.

BITIFY

Best Bitcoin Auction Sites

Another Bitcoin trading platform. Bitify was launched in September 2013 and was first known as CrptoThift. It uses an auction system to sell items. It also offers escrow services to the buyers. The buyers have an option to use the escrow service for 1% fee. This means that Bitify acts as a guardian over the customer funds until the transaction is fully settled. You can browse numerous posted items for sales such as E-gift cards, software installers, online gaming accounts and more. Although, it offers more of digital items rather than physical goods.

GLYDE

Best Bitcoin Auction Sites

This platform has been around the longest and sells items super-fast. Buyers can find reasonable deals on electronic items and much more, whereas sellers can benefit from selling their unwanted products. There have been thousands of feedbacks on this platform and have been nothing but positive. So, make sure to drop by this site if you’re ever looking to sell any items. Glyde provides insurance on every package, so in the rare event an item is lost in the mail you will still be compensated for the sale. It is the best bitcoin trading platform to buy and sell with bitcoins.

To help build and enhance your reputation, opt for websites having built-in feedback systems. Also, make deals with already established buyers where you send them the item first and then wait for them to send bitcoins after receiving the goods.

Best Bitcoin Auction Sites

REMEMBER! Your buyer should have an established reputation so you don’t suffer a loss. There could be cases where you send the item to the buyer and they never send the payment.

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Why Bitcoin Is Wonderful (In 2 Minutes) – Vanessa Collette With Mike Maloney

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Bitcoin Is Rapidly Overtaking Fiat In Venezuela

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A prolonged hyperinflation of the Venezuelan bolivar has made it just about unusable. Over the last couple of months, bitcoin has taken control over the country as the primary currency and the citizens have been using the digital currency to buy basic goods, medicine, and other key items.

Patricia Laya, Venezuelan Bureau Chief at Bloomberg, has revealed that the daily limit of country’s ATMs is set at 5,000 bolivars, worth around $0.05. Laya expressed that she had held up 20 minutes in line to get $0.05 in hyperinflated currency worth just about no value.

Because of the deficiency of money and the quick decrease in the valuation of the Venezuelan bolivar, the residents have started to investigate different strategies for payments since the start of 2017. Since the estimation of money has dove and the residents, organizations, and experts have effectively dismissed the cash, the majority of the Venezuelan population has started to opt for alternative forms of money.

Consistently, the fame of bitcoin inside Venezuela has surged, as a rapidly expanding number of individuals have begun to use the digital money as the primary cash, medium of trade, and store of value.

In a meeting with the Associated Press, Venezuelan inhabitant John Villar expressed that he has purchased two plane tickets to Colombia, his better half’s medicine, and paid his workers with bitcoin in the previous month. Villar stated that he plans to keep using bitcoin like the majority of Venezuelans.

“This doesn’t involve politics. This involves survival,” said Villar.

Currently, it is nearly impossible to buy any goods or services with Venezuelan bolivar, given its low value and adoption in the country.

In coming days, Venezuela may become the first country where bitcoin takes over the national currency and becomes country’s main financial system.

But Why Bitcoin, And Not Some Other Currency?

In Venezuela, the majority of the people have lost trust in the government, national bank, and banks. Its currency is almost broken and its esteem has dived to a point where no goods or services can be acquired with it.

Bitcoin is a decentralized and peer to peer currency framework, store of significant value, and a safe haven asset that shows a trustless ecosystem. Anybody inside the system can send and get payments from each other on a shared premise, without the involvement of intermediaries.

In future, bitcoin will probably rise as the real substitute to the declining fiat monetary standards. In the long term, bitcoin could even replace multi-trillion dollar fiat currencies like the US dollar, Japanese yen, and Chinese yuan, if it continues its current development rate and exponential increment in value.

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LITECOIN GAMBLING – BEST SITES, ADVANTAGES AND DISADVANTAGES

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This article will give you a complete and comprehensive guide to Litecoin gambling. First of all, you have to find a description of how this digital currency works and by what means to gamble with Litecoin. In this article, different available litcoin gambling games are discussed.  These games are including dice games to complete casinos and also simple lottery games. In the end, you will find some benefits of gambling with Litecoin and also a comparison between Litecoin and other Digital currencies like Bitcoin.

How Litecoin Works and How to Gamble with It?

Litecoin mined same as Bitcoin. There are ultimately 84 million Litecoin, however, at this time there is a lower percentage of that number. You may hold this digital currency in a dedicated wallet, which you can download on the most computer and also your mobile devices. You can buy and sell Litecoin at the same exchanges which sell you Bitcoin. These exchanges include BTC-E and Coinbase. There are some restrictions on purchasing Litecoin and Bitcoin by using payment method which is potentially reversible. But you can buy Litecoin with Bitcoin and Vice-Versa.

Anyone can gamble anonymously with Litecoin. You just have to register yourself at an online casino with an email address. You pay through your wallet using a receiver Id, which you do through cut and paste from a gambling site. The deposit ad withdrawals both are almost instant. When you have to withdraw you just enter your wallet Id and the total amount you want to transfer.

There are a lot of Casinos which accept Bitcoin have started to allow gambling through Litecoin too. Known as “Natural Successor” to BTC, and is the second most famous digital currency online.

What are Litecoin Gambling Options?

There is a wide range of online gambling options with Litecoin. Some gambling games are also available which you can play with Litecoin. The main difference is the simple games that have established by the digital currency community, and the by the fully developed casinos. These online gambling games offer different payment method as pay through Litecoin or Bitcoin.

Some games are graphically much ugly. The biggest attraction these games is that they have the technology which shows that they are provably fair.

Here are some examples of best gambling sites

1.     Litecoin Hi-Lo:

This a simple game in which you have to guess high or low through a sequence of cards. Since you can discuss the odds you get and can also choose how much risks you are ready to take for every card. These games are Provably Fair.

2.    Litecoin Dice:

This is a probability based game, generally based on a casually generated number which is between 1 and 100. You have to just set your own odds by selecting the range of wins. You will be able to check whether the game was random after facts. The sites which provide these games offer a trail of the last 20 games for you so you can able to see the results of those too.

3.   Ponzi Games:

In these games, you have to make sure you have not left holding the bounty after 24 hours are up. You will buy a string from the last player, then 0.01 LTC will be added to the total at this point. Then try to sell the string. If someone buys the string, you make a profit, if not, then you will get a 10% as a consolation prize.

What are The Casinos Accepting Litecoin?

Bitcasino.io is the fully featured casino which runs on the platform offered by CoinGaming. This includes 3D slots from the acclaimed BetSoft, Video Poker, and Keno. You can also find a Live-Dealer Casino too. The suggested names also accept Bitcoin. If you like sports, the Bittcasino also have a fully-featured sportsbook.

What are Gambling Advantages With Litecoin:

Most of the advantages of gambling with Litecoin are common with Bitcoin.

·        These advantages include check and balance to verify to confirm the fairness of games.

·        You can play with Litecoin anonymously.

·        No personal backup document and information is required by the gambling sites.

·        There are no transaction fees playing with Litecoin.

There are some technical benefits however, these are behind the scenes in the Blockchain processing.

Tags: bitcoin vs other cryptocurrencies

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What are the Top Blockchain Trends in 2017?

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Top trend in 2017

By creating its own entity and reputation blockchain finally enter to the typical awareness in 2017. No doubt, blockchain has the capacity to change industrial operating models. Whereas, the distributed ledger industry grew up throughout the year. However, most of the companies are still stuck in survey phase. In addition, are unable to bring fascination into the reality because they are charmed by its beauty.

The primary application is still in banking. 15% of the banks have the plan to put blockchain into the commercial production by 2017.  Whereas, 91% of banks are investing in blockchain technology. The world economic forum estimates that 80% of banks are actively working on blockchain technology.

Technology is evolving, $1.4bn invested in blockchain technology startups across different sectors. Whereas, it is not only financing that blockchain is set to disrupt.

Investor look more use cases

Funding to blockchain increases day by day. According to the latest report of KMPG and GB, plus of fintech Q3 ‘16’ investment of this technology fell to $87 million in the third quarter of 2016. $119 in the second quarter and $153 in the first quarter. This is expected thatThe fall specifies that investors are beginning to grow anxious that exploration is not translating into action. In addition, excitement remains the same, this is what the report said.

The report says, ‘To-date, however, the ability to move blockchain from proof-of-concept to adoption and production has been minimal. While the market is still giving blockchain companies plenty of room to prove themselves. Investors are also becoming more concerned about results’. In addition, ‘Over the next year, investors will make more rational assessments of where the main use cases associated with fintech are and how long it will be before they are implementable.’

Growth in Asia

In North, Asia blockchain has received more attentions as compare to other. Where a number of the financial institutions are investing in blockchain related projects. In China, with record breaking of fintech investment, increases for each of the past four quarters. And, there is still a room for growth in Asia in 2017. Accordingly, KPMG China’s fintech investor and innovation partner say that investor is still interested in investment. Not only in massive rounds CV investors are investing in small blockchain technology companies in Asia. Few of them companies are at the second or third round of funding. These small projects are starting to lead the large investment. A Chinese investor has made an investment of $1.7 million for Taiwanese startup Bitmark. A trend may continue in next year.

Outside finance     

Companies like Uber and Airbnb provide the services by linking consumers with their needs. They are still playing the role of the middle person. Accordingly, they still take a cut. Whereas, blockchain is entirely different from all this. It has the ability to remove the middle person from needs and its satisfactions. Which clearly means that someone needs take their full dues.

For example, arcade city is the new ride-sharing app that connects the customers with drivers by using Ethereum blockchain. Christopher David, Arcade city’s driver, a former Uber driver says that ‘The Achilles’ heel of Uber and Lyft is their centralized management of pricing. By decentralizing that decision to the level of the driver and rider, Arcade City frees the driver to be an entrepreneur and empowers the rider with control over their entire experience. Both drivers and riders are loving it so far’. May of this year, Arcade city become first in blockchain startup at GTEC awards.

In the same way, blockchain allows an artist to upload, sell or market their work without any middle authority. Edith Suarez of CNN discuss about the blockchain transparency, which other platforms failed to provide, ‘Music is placed in the decentralized server, then each song is embedded with a piece of code (meta information) […] [When people download] a track with a cryptocurrency, a payment is automatically sent to anyone involved, be it the writer, the producer, the singer, as well as many others.’’

Government’s involvement

Now, government and establishment fail to maintain their trust in the public. In that scenario, public related information should be held in transparent easily available manner. Where anyone will have the ability to verify the ledger and also have the copies of that data.

Most of the countries in the world want to move their currencies to blockchain trend. And, they are also exploring the other areas of the government. A prominent example of this year is, Governor Jack Markell, announce two blockchain initiatives. Whereas, Estonia use the blockchain technology to enhance an e-residency program. In addition, anyone from anywhere in the world can apply to become e-resident of Estonia.

Environment takes shape   

In 2016 Japan’s legislatures pass a bill to regulate bitcoin in a country. Furthermore, with the adoption and popularity of bitcoin, they have a plan to focus on security and other risk issues. While regulators are trying to provide a transparent system. Not only Japan is starting working on digital world but US, South Korea and many more countries trying to provide a transparent system to the public.

Education and collaboration

Education is the biggest challenge while blockchain is still new in market trends. There are security issues, companies must not put off or panic if proof of concept does not reveal themselves immediately. They are going to improve their work and understandings with other companies. Early adopters of any technology get benefits. That is why organizations need to know how they can use blockchain technology as soon as possible.

Good luck!

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