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A person who is not accustomed or used to the terminologies of crypto industry, it is difficult to conceive the idea of initial coin offering or why the tokens are generated and how to assess an initial Coin offering. For a cryptogeek it is quite simple, for him an ICO is a tool that is used to trade future crypto coins which are exchanged for cryptocurrencies having instant or liquid value. This definition may be simple for a person who deals in all sorts of cryptocurrencies and has undergone various ICOs but when talking about a layman who has no sound knowledge of crypto, it may get complicated.

How to assess an initial coin offering

For your ease of understanding we have devised a simple example from everyday life which will be quiet helpful for you if you want to understand the basic principle of initial coin offering.

Example From Everyday life

Imagine you want to start a business of your own, you have selected the appropriate location for it, and you’ve also planned the interior and exterior design with the sort of items you are going to sale.

 

But, There’s one most important thing remaining …..

 

Without a handsome amount you cannot initiate your business, You must rent or purchase the place you have chosen, stock it with the items you want to sale and also hire some staff to tackle it the way you have devised in your mind.

 

Let us assume that you are an innovative person and you don’t want to get a loan from any one, you just want to initiate your own sum. For that purpose you produce your own branded product with some specific name say for example “BIT”. But you only generate it in a limited quantity of 1,000 pieces. Let us call each piece a currency, and customer won’t be able to buy that currency until they acquire them using special tokens that you’ll release gradually over the specific period of time following your business launch date.

 

If demand for BIT is high enough and if you succeed in making your buyers believe that its demand will continue to grow, that will automatically push up the price of the tokens generated in the future. These tokens would obviously sell for large sums and as a result you’ll raise enough money to launch your business.

 

You can make it further simple to say that first you offered shares for a company which you have not yet launched but you had developed a significant trust so public bought that share for the sake of investment. That was an Initial Public Offering from your side.

How To Apply The Same Principle To ICO?

The principle elaborated in the above example, is also behind an ICO. The same way you offered the public initial shares of your company, an ICO gives public the right to buy a product which exists in a limited quantity. The company offering that product has an option to sell its rights for a higher price.

 

The beauty of the above process and the thing which differentiates it from the prior IPO example is that it is supported by blockchain technology. This technology guarantees the authenticity of the tokens offered. In short ICO is a whole new way for businesses to raise money. According to the latest ICO news update, it has already been used to generate approximately 2 billion dollars.

How is ICO Risky?

Well, we have full trust on the blockchain technology but we have no issue in admitting that it can too be risky as compared to the Initial Public Offering. Let us see how?

 

First of all the most satisfactory thing about the IPOs is that they are well regulated. Companies which make such offers are lawfully bound to reveal all sorts of information about themselves before they make it fully public. It allows investors to make fair-minded estimations about their value. The main thing is that people making these investments have full knowledge about the Pros and Cons.

 

On the other hand people who invest in an ICO have comparatively less knowledge of what they are investing in and what will be the nature of their return. But it can be easy for you if you follow the following principles devised by our crypto experts:

Factors You Must Examine

  • Is the admin panel team of that company experienced?
  • Does the product offered by the company have a good market? If the product isn’t a hot item, there’s is no use to invest in it.
  • You must have proper knowledge of the blockchain technology which is underpinning the sale. How many tokens have been distributed uptill now and what is their security level.
  • The legal and regulatory stuff surrounding the company is safe or not?
  • What are the terms and conditions outlined in the white paper and do they look fair?

 

We hope that after following these rules and regulations it will be easy for you to make a smart decision in terms of ICO investment, still we are waiting for your suggestions and criticism in the comments section below.

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Supply Chain Blockchain: Eximchain Raises $20 Million!

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Eximchain was established in 2015 at the Massachusetts Institute of Technology’s (MIT) media lab and is a supply-chain focused blockchain startup, which has managed to raise more than $20 million from a group of investors. Eximchain is basically an MIT-based software development company which uses blockchain to advance the SCF (supply chain financing).

blockchain supply chain

Supply Chain Financing

SCF allows investors to fund an organization through its supply chain procedure by providing them further operating capital and functioning cash flow to upsurge its effectiveness and lessen risk. Companies that effectively succeeded this cash flow have reduced their inventory by almost 30%, heading to substantially lower working costs.

Even as a startup, it has managed to raise the funds to advance its own public blockchain which runs by private smart contracts, in order to offer multiple solutions for recording, executing and disseminating information for supply chain shareholders.

Who’s behind the funding?

One of the major cryptocurrency hedges from China, FBG Capital was behind the funding. There were also many other participants included such as;

  • INBlockchain, which is a blockchain capital firm. It was founded by a Chinese cryptocurrency activist, Li Xiaolai.
  • Kinetic Capital, which is a Hong Kong-based investment firm.

Now moving towards the token airdrop, Eximchain says that it will see approximately 1.5 million ERC20-based EXC tokens disseminated to contributors after verifying their identity. According to the company, EXC can be also transformed into the native tokens, on the blockchain of Eximchain itself.

Hope Liu’s Statement

Eximchain’s co-founder and CEO, Hope Liu stated;

“After experimenting [with proofs of concept] on ethereum or private blockchains, the enterprise world is looking for technical solutions that can be deployed immediately to solve real supply chain problems. There is a huge potential for blockchain technology to revolutionize supply chain processes, and we are all excited to see the progress that Eximchain will help bring to this industry.”

The funding is actually what makes the firm one of the latest ones to join the highly popular trend of distributing airdrops, through which firms allot tokens for free to the concerned parties, rather than holding token sales in the existing ambience of regulatory obscurity.

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What Are Some Top-Notch Bitcoin Debit Cards?

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Some Top-Notch Bitcoin Debit Cards

Bitcoin debit card is a handy way to bridge the gap between the world of bitcoin and traditional financing. The users can buy bitcoin with debit card or load it with bitcoins; which they can later spend at places/stores that accept credit card.

A downside of bitcoin debit card is that the users can’t spend bitcoins directly. However, it does allow them to store balance in bitcoin.

For those asking what are some top-notch Bitcoin cards and how to make Bitcoin transactions through a debit card, this post is the perfect place to be at. Here we have discussed some top-notch debit cards that you can use to make bitcoin transactions. So, let’s get started with knowing how bitcoin debit cards work.

SpectroCoin Visa Debit Card:

A prepaid Bitcoin debit card. SpectroCoin can be used at any ATM across the world. The card is funded instantly so the users don’t have to worry about exchanging bitcoins in advance.

Some highlights of SpectorCoin are:

  • All the franchises that accept Visa/Master card as a form of payment also accept SpectroCoin. This includes physical shops, ATMs, PayPal, online sites, etc.
  • Available in both virtual and physical form. Virtual cards take only a few seconds to create and can be used to spend bitcoins anywhere around the globe. On the other hand, physical ones take up to 1-4 weeks. These cards can also be used to pay with bitcoins throughout the world.
  • SpectroCoin cards can be instantly loaded from SpectroCoin wallets.

Xapo Debit Card:

Xapo was one of the first debit cards introduced to the market. However, it has yet to make an appearance in the US markets and is currently available only in European countries.

The card takes up to 1-4 weeks to be delivered with the initial cost of $20 and an annual fee of $12.

Coinbase / Shift Card:

Shift is the first bitcoin debit card available to the residents of the US. Using shift card costs no money. However, the purchase price of Shift card is $10.

BitPay Visa Debit Card:

The only Bitcoin debit card that is available in all 50 US states. BitPay costs $9.95 to purchase and takes around 10 days to arrive.

BitPay can be used in person, online and ATMs that accept Visa card.

Cryptopay Debit Card:

The most established bitcoin debit card with 23000 cards already issued. The card is pretty simple to use and allows users to spend bitcoins anywhere around the globe.

The card can be purchased both online and offline and is issued in two forms – virtual and physical.

One of the paramount benefits of Cryptopay is that it doesn’t require the users to provide personal information – giving them complete anonymity to make transactions. Bitcoin users dig this!

Costs range between £15.00, €15.00, $15.00 and £2.50, €2.50, $2.50 depending on user’s location.

Conclusion:

These are some most reliable and widely used bitcoin debit cards to make bitcoin transaction(s). All the cards are pretty easy to purchase, cost extremely low and make bitcoin transactions easier than ever. You can also find more information on their official websites.

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Warning Against Investing in Bitcoin – Federal Reserve Official says “Don’t do it!”

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Since 2017, Raphael Bostic is leading the Atlanta branch of the Fed. On Tuesday, a message was delivered by him at the Hope Global Forums annual meeting, promoting entrepreneurship and financial annexation. The president of the Federal Reserve Bank of Atlanta conveyed his opinion on Bitcoin investment and other cryptocurrencies by only using three words, “Don’t do it!”

Federal Reserve Bank of Atlanta

Bloomberg Report

According to a Bloomberg report, Bostic further said:

“They are speculative markets. They are not currency. If you have money you really need, do not put it in these markets.’’

Bostic is the first one from the Federal Reserve Bank of Atlanta, who has issued these bearish remarks on cryptocurrency. Back in December, cryptocurrencies were compared to “Beanie Babies” by Neel Kashkari, who is the president of Minneapolis Federal Reserve.

He said:

“I think of it a little bit like Beanie Babies. If they were jumping in price by 1,000 times, or $10,000 each, what would we make of Beanie Babies being priced where they are?”

Following the statement, he added that he believes the “underlying [blockchain] technology is…more interesting” than the top-cryptocurrency, Bitcoin. Kashkari, also claimed that people who are investing in cryptocurrency are on a great risk and said that they are “swimming with all the sharks in the world because of all the anonymity.”

The Federal Reserve Bank of New York – Report

Recently, a report was released by The Federal Reserve Bank of New York, which shed a little bit positive light on cryptocurrencies, as he kept arguing that they cryptos may be able to enable dubious payments, however, these payments are not really necessary in most advanced economies.

According to the report:

“Cryptocurrencies arguably solve the problem of making payments in a trustless environment, but it is not obvious that this is a problem that needs solving, at least in the United States and other advanced economies.”

Janet Yellen, who is the former Fed Chair, said in her final press conference that the top-cryptocurrency, Bitcoin is a very speculative asset and has a very little role in the payments system. Meanwhile, the present Fed Chair, Jerome Powell said that in the past, he had nothing against the Bitcoin and added, that the organization isn’t conflicted or supportive of substitute currencies.

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Kakao Denies ICO Rumour While Confirming Blockchain Platform Establishment

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Kakao was established in 2014 and is a South Korean internet company. Kakao is basically internet giant in South Korea and recently rumours had been circulating about Kakao’s ICO plans. However, it’s been confirmed by Kakao that it is going to set up new blockchain, revoking the rumours of any planned ICO (Initial Coin Offering).

blockchain platform

Kakao’s Blockchain-Powered Platform

On Tuesday, a press conference was held, in which the largest messenger app of South Korea, Kakao Talk’s operator said, that a new division has been launched by the company to develop a blockchain platform for the completion within a year. The South Korean news agency, Yonhap reported, that its new product will be accessible to the public as an institute for application developers.

Views of Kakao’s CEO

According to the CEO of Kakao, Joh Su-Yong and Yeo Min-soo – while mentioning Ground X, they said that the company is also planning to assimilate the upcoming services related to blockchain technology along with the current internet offerings of Kakaos.

Joh stated at a news conference:

“Now at Kakao 3.0, we will continue to explore our growth potential by seamlessly integrating services among Kakao companies and actively building a presence in the global market.”

On the other hand, this news confirms a report which was published earlier this month that a blockchain unit has been launched by Kakaos. Another rumour has been shot-down today, which is also mentioned in the report above that Kakao is considering its own cryptocurrency under the name of “Kakao Coin”, which will be issued through an ICO outside of the country, South Korea, where they are prohibited.

ICO Rumour

On ZDNet, Joh denied all the plans related to ICOs, either inside South Korea or through a foreign strategy to avoid regulation in the country that banned the fundraising method based on tokens, back in September 2017. Earlier, Kakao was involved with the establishment of Upbit (South Korean cryptocurrency exchange), when its messaging services got merged with the trading platform.

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Bitcoin Hitting High Notes

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Digital Currencies on the Rise

Bitcoin has been on the climb to sky-rocket since the currency split into two a week ago, with its total market value standing at around $55 billion, it seems as there’s no place the cryptocurrency would rather be.

It is now standing at $3260.80 per coin after experiencing it hit $3344 for the first time ever.

 

 

Bitcoin Cash, meanwhile, is back up 28% valued at $271.71 after its drop from $727 on August 2.

Trading platform eToro’s analyst, Mati Greenspan says Bitcoin Cash’s dip and Bitcoin’s surge are likely correlated.

Greenspan wrote in an email on Monday morning: “All that money that seemingly came out of thin air to pump up the value of Bitcash is now being fed right into Bitcoin. Bitcash has fallen from its peak of $12 Billion all the way down below $4 Billion this morning. Bitcash sought to replace the original form of digital money but the miners never embraced it. As it was seen by many as something for nothing, many users are now dumping.”

Related: Buy Bitcoin Online

This is how Bitcoin had performed last year, this proves that we’re now on record-breaking grounds.

 

News and Image Credits: businessinsider.com

 

 

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