GDAX Exchange Sees Colossal ETH Flash Crash, Angered Traders Mount Lawsuit

Details have surfaced of a violent flash crash on Global Digital Asset Exchange’s (GDAX) ETH markets today, with Ethereum tokens being sold for prices as low as $0.10. Amidst a dramatic uproar from angered traders, some are attempting to mount a class action lawsuit against the company.

 

Reports Surfaced of Traders Losing Extreme Amounts Money During Violent Slippage on GDAX’s ETH-USD Market

Global Digital Asset Exchange (formerly Coinbase Wallets) provides Coinbase wallet owners with an exchange interface for bitcoin and cryptocurrency trading. GDAX offers fiat to cryptocurrency pairings to traders in 32 different countries, with Coinbase offering simple bitcoin transactions and storage services to 190 nations.

GDAX Exchange Sees Colossal ETH Flash Crash, Angered Traders Mount Lawsuit

On Wednesday reports surfaced of traders losing extreme amounts money during violent slippage on GDAX’s ETH-USD market.

Vice president of GDAX, Adam White, has blamed the crash on a multimillion dollar sell order that apparently drove prices from $317.81 to $244.48, resulting in an instantaneous $29.4% loss of value. The order then triggered approximately 800 stop losses, seeing widespread liquidations among traders in leveraged positions.

The crash saw ETH tokens being sold for as little as $0.10 USD. Many fortunes shattered as the price plummetted before many fortunes were made by those who were able to purchase drastically undervalued ETH tokens.

An official post has been published on GDAX’s blog, stating “our initial investigations show no indication of wrongdoing or account takeovers. We understand this event can be frustrating for our customers. Our matching engine operated as intended throughout this event and trading with advanced features like margin always carries inherent risk. We are continuing to conduct a thorough investigation and will keep customers updated with any resulting actions. With that in mind, it is important to note that these trades are final in accordance with our GDAX Trading Rules (Section 3.1). Honoring properly executed orders is critical to maintaining the integrity of an exchange.”

Coinbase Have Been Overcome by Technical Difficulties Lately

Coinbase Have Been Overcome by Technical Difficulties Lately

With GDAX’s terms of service stating that all trades are final, some unhappy investors are attempting to mount a class-action lawsuit against the company. A Google document file is currently being circulated, with any investors who lost capital due to the crash being encouraged to join. Despite their best efforts, many within the cryptocurrency community are highly skeptical as to the likelihood that sullied investors will be able to retrieve their losses – citing the failed attempted lawsuit against cryptocurrency exchange Poloniex after losses were sustained by investors due to technical errors besieging the exchange.

Coinbase have been overcome by technical difficulties lately, with the crash coming approximately one week after Coinbase and DGAX both experienced problems during peak-volume trading periods. The problems resulting in complaints from users who found themselves locked out of their accounts and unable to manage trades. A similar incident of extreme slippage occurred in April, with GDAX an extreme drop in price to a low of $0.06 during scheduled website maintenance.

GDAX’s slippage has been one of the numerous issues that have plagued the ethereum markets over the course of the past week. A glut of over-hyped ICOs have recently entered the markets, resulting in popular wallet service Myetherwallet to receive thousands of complaints after experiencing technical difficulties, in addition to the Ethereum network experiencing severe congestion. Many are interpreting the problems as a likely catalyst that the much anticipated ‘flippening’ (ethereum coming to overtake bitcoin as the cryptocurrency that boasts the largest total market capitalization) not to take place soon, or ever, as the recent dramas may inspire ethereum investors to realize profits and reduce risk exposure.

What would you do if you had lost money during GDAX’s flashcrash? Share your thoughts below!

GPU Shortage Intensifies as Cryptocurrency Mining Offers up to Twice the Average Russian Monthly Wage

European consumers in general and especially russian consumers have faced massive graphics card shortages following a dramatic increase in demand for cryptocurrency mining hardware. With some miners claiming that they can make up to $1600 USD a month and the average Russian wage sitting at less than $700 USD monthly it is unlikely that demand will subside soon.shutterstock_395785147-640x452

The Ease With Which Anybody Can Begin Mining Cryptocurrency Is Attracting the Interest of Many Russians

Local Russian media outlets are reporting a dramatic shortage of graphic cards. The shortage has been attributed to an increase in demand for cryptocurrency mining hardware, following extensive media coverage documenting the meteoric rise of many cryptocurrencies this year.

GPU Shortage Intensifies as Cryptocurrency Mining Offers up to Twice the Average Russian Monthly Wage

Reports have suggested that individuals are purchasing up to 600 graphics cards at once, driving prices to surge by approximately 80 percent. Russian IT hardware distributor Treolan has told journalists that graphics cards shipments have tripled over the past two months.

The ease with which anybody with a desktop computer can begin mining cryptocurrency is attracting the interest of many Russians. With the average monthly wage sitting at approximately $680 USD during April 2017 (a 10% increase since January), many Russians can exceed the wages offered them in the labor market simply by hoarding and running graphics cards mining altcoins.

The Augmented Demand for Mining Hardware Has Not Been Confined to Russia

With bitcoin mining being conducted on an industrial scale using Application Specific Integrated Chips (ASICs) many miners from lower income nations are choosing to mine alternative cryptocurrencies. ASICs are not available for many altcoins still, meaning that GPU-based mining rigs can still be used profitably to mine said altcoins.

Cryptocurrency Mining Offers up to Twice the Average Russian Monthly Wage

The augmented demand for mining hardware has not been confined to Russia, with recent reports of graphics card shortages originating from across the globe. South Africa has reported similar shortages amongst commercial retailers, whilst proliferating stories of online computing hardware stores being sold out of graphics cards led to PC Gamer to report on a global shortage of GPUs.

With cryptocurrency mining offering profits that are potentially higher than those offered by the labor markets of many developing nations, it is unlikely that the demand for GPUs in low-wage nations like will Russia cease anytime soon.

What cryptocurrencies do you mine? Tell us in the comments section below!

New York Regulator Reports on Cryptocurrency Licensing, Inspects Businesses

An annual report by the New York State Department of Financial services reiterates the importance of regulating digital currency businesses. The report was released on June 15, and it summarizes the departments activities with regards to its Bitlicense regulation for crypto-companies. 

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It said cryptocurrencies provide new New York Regulator Reports on Cryptocurrency Licensing, Inspects Businesseschallenges for regulators, because of their transaction speed and anonymous movement of funds. The report said, “Blockchain technologies present both opportunities and challenges for industry as well as regulators. Building innovative platforms for conducting commerce can help improve the efficiency of financial transactions, record-keeping and clearing.”

The report went on to say the technology allows for too many risks, because regulation can simply be bypassed by people or organizations. The speed of transactions and relative anonymity tend to deter oversight and control. The New York Agency said they want to protect customers and investors from fraud and other illegal behavior.

Easier facilitation of payments and anonymous movements of funds can be dangerous without the compliance and oversight designed to safeguard consumers, and to prevent money laundering and funding illegal activities

The regulation agency has already applied its licensing regulation requirements to several companies, which were mentioned in the report. It determined the Gemini Trust Company LLC could trade in ether. Recently it approved XRP II LLC, an affiliate of Ripple Labs, Inc. In total, 5 companies are registered with Bitlicense, and they are currently receiving periodic inspections and examinations via direct oversight from the agency.

The History of Bitlicense; Great Crypto-Company Exodus

The regulatory agency originally initiated the Bitlicense back in 2015 with the help of Ben Lawsky. The document was 44 pages and it outlined all the necessary requirements for businesses who want to trade in cryptocurrencies. To this day, it is mandatory that companies submit an application to manage and use digital currencies.

Jamie Redman covered it atNew York Regulator Reports on Cryptocurrency Licensing, Inspects Businessesbitcoin.com. He mentioned how many businesses criticized the licensing requirements. He said, “Executives and investors have been very concerned that the Bitlicense would hurt New York innovation and starting businesses. With KYC and AML rules and quite an extensive guideline to give the state private information many companies are unsatisfied with this law.”

The executives warnings rang true. When Bitlicense was put into place, it caused several popular companies to discontinue services in the State. Many of them made statements about how Bitlicense negatively impacted their ability to serve their customer base. They included Xapo, Shapeshift, Poloniex, Bitfinex, and Kraken among others.

Kraken’s response to Bitlicense was most pointed. The company said, “Today Kraken discontinues service to New York Residents. Regrettably, the abominable Bitlicense has awakened. It is a creature so foul, so cruel that not even Kraken possesses the courage or strength to face its nasty, big, pointy teeth. It’s at least a 40-man, bro.”

Do you think Bitlicense has been success or failure? Share your thoughts below!

China Blames Bitcoin Transactions for Leading to More Synthetic Drug Deaths

China is expected to ban a new synthetic heroin substance called U-47700, and they blame bitcoin as the currency “criminals” use to conduct transactions with their customers. They tend to think anonymous bitcoin trades on the dark web lead to people’s deaths at the hands of these synthetics.

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A June 19th article by ABC News read,

Yu said suspects use the internet to communicate with customers and use the anonymized digital currency bitcoin to transfer money, and that authorities were working with internet companies to try to stop such trade and the advertising of drugs on websites.

The drug in question is a heroin-style substance that Chinese authorities cannot seem to get a grip on. The article suggested that chemists constantly change the chemistry of the chemicals, which makes them technically legal. Then, using the dark web, drug dealers do cryptocurrency trades with Americans that lead to the deaths.

Dark Web Drug Usage Increase; Chinese Versus European Use

This news comes as recent China Blames Bitcoin Transactions for Leading to More Synthetic Heroin Deathsresearch on dark web market activity has allegedly intensified. According to a bitcoin.com article written by Samuel Haig, research by the Global Drug Survey has indicated growth in dark web purchase numbers.

Haig said, “European nations see the highest adoption of darknet markets among drug users. Finland showed the greatest uptake of dark market adoption, with 41 percent of Finnish drug users reporting that they had purchased narcotics using the dark web. Denmark came second, 27.2 percent, followed by The United Kingdom (25.3 percent), Wales (25 percent), Sweden (24.5 percent), and Scotland & Spain (22.5 percent).”

Interestingly, China’s/Asia’s numbers do not match the significance of the European use of the dark web to secure drugs. Still, governments are viewing digital currency transfers used in drug exchanges as more and more of a threat. It is true that law enforcement officials and agents have known digital currencies are a big aspect of the dark web…but now it appears they are wanting to blame synthetic heroin deaths strictly on bitcoin darknet transactions from Chinese merchants.

More politicians? More Regulations? Or more Bitcoin?

Adding insult to injury, there China Blames Bitcoin Transactions for Leading to More Synthetic Heroin Deathshave been a flurry of threats to regulate and ban and control bitcoin. Some countries have already outright banned it (Ecuador) or have initiated strict restrictions (China). Therefore, with more condemnations of drug trades using the currency, it is possible that regulators will be further galvanized to lead an assault on bitcoin and dark web cryptocurrency trades.

Nonetheless, cryptocurrency market capitalization continue to soar, dark webs continue to proliferate, and more people continue to adopt the currencies. In Ecuador, regulators have not been able to stop the currency’s growth, and in China dark web transactions are still in full swing. No telling how politicians will decide to handle the ensuing growth of the crypto darknet marketplaces.

Do you think government intervention will affect the use of bitcoin? Let us know in the comment section below!

UK Regulator Warns Investors Bitcoin Trading is Risky

A high ranking UK regulator recently warned people about the pitfalls and perils of bitcoin investing. Chris Woolard, The Financial Conduct Authority’s executive director of strategy and competition, said there are many trades happening in the cryptocurrency and bitcoin space. He just wants investors to know there are risks with speculating in digital assets, that people could lose a lot of money. 

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UK Regulator Warns Investors Bitcoin Trading is Risky

Chris Woolard

A Financial London News article elaborated on Woolard’s considerations, saying, “Digital currencies are volatile. Bitcoin hit an all-time high of almost $3,000 this month, with some analysts saying its value could continue to soar. But in June last year, bitcoin was worth less than a third of this figure.” The article continued by claiming Woolard just wants to shield people, because they may believe digital assets are protected financial instruments, when they are not.

Apparently, this announcement from Woolard and the Financial Conduct Authority came right after Hargreaves Lansdown launched two exchange-traded notes. The notes provide a way for investors to keep a bead on bitcoin’s price, but it does not appear to allow for trading options.

The Agency’s thoughts on Digital Assets; Regulator Perspectives

Even though the supermarket Hargreaves Lansdown has not currently listed options for bitcoin, Woolard and the Financial Conduct Authority does not harbor negative attitudes toward cryptocurrencies. They do not want to outright ban them or make hasty decisions. They just want people to know these digital assets could be a volatile and untrustworthy investment. Woolard said:

We don’t prohibit regulated firms from engaging in digital currency trading, nor do we prohibit banks from offering banking services to deal with currency firms that use [blockchain]. I am not saying that we view digital currencies as an inherently bad thing… but we do have to exercise a degree of caution

The regulator has concerns about blockchain technology and cryptocurrency, but he is going easy on them compared to other regulators. For instance, Australia’s Opposition Leader, Bill Shorten, wants to regulate bitcoin and cryptocurrency out of existence because it allegedly fuels terrorism. The United States also has hamstringing legislation in the works, meant to cripple people’s use of bitcoin. This is reflected in senate bill 1241, which may expect citizens crossing borders to declare digital assets over 10k, among other, more authoritarian clauses.

Times are Changing: The New Cryptoeconomy

These kinds of regulatory UK Regulator Warns Investors Bitcoin Trading is Riskyinitiatives may or may not come as a shock to the bitcoin community, but the fact regulators are becoming more interested in cryptocurrencies should be noted. As soon as Japan made bitcoin an accepted currency, and the price surged, regulators began to wake up.

Now they are shooting from the hip with commentary, considerations, advice, and plans to regulate and control cryptocurrencies. It cannot be known how these attempts to control bitcoin and other digital assets will pan out, but it is certainly true time is changing in regards to how society-at-large will try to manage the newly emerging cryptoeconomy.

Do you think regulations will negatively impact bitcoin and other cryptocurrencies? Will regulators ultimately fail? Let us know in the comments below.


Top German Banker Warns Cryptocurrencies Could Precipitate a Financial Crisis

A top German banker, Jens Weidmann, commented Wednesday that digital currencies like bitcoin could cause a financial catastrophe. The banker alluded to the idea digital currencies are unstable and prone to violent fluctuations on the market. Weidmann said for people to expect banks to adopt digital currencies so the average citizen begin to have faith in them. 

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Jens Weidmann

A Business Insider article further suggested the banking system has a leg up on digital currencies, because they have the ability to print as much money as they want. In other words, they can avert a financial collapse by magically creating more liquidity.

The article quoted Weidmann, saying, “This is a feature which will become relevant especially in times of crisis – when there will be a strong incentive for money holders to switch bank deposits into the official digital currency simply at the push of a button.”

The article’s author also said the banker’s position was that when banks have their own digital currencies, they can use various features to protect the banks from going on bank runs. They could provide people with digital assets so they don’t start taking all their cash out of the bank. The article read:

Weidmann’s basic point is that by making currencies fully digital in future, withdrawing money from a bank would become much more simple. Instead of physically having to visit a cashpoint or bank branch to withdraw cash, customers could do it online. In times of crisis, when people tend to take money out of their accounts so they can have the perceived safety of cash, causing the phenomenon of the bank run.

Trust In Cryptocurrencies; Various Banking Narratives

What the German banker and Business Insider article imply is that digital currencies will not cause a financial crisis alone. A financial crisis will only occur if banks do not have absolute dominion over digital assets, in order to help stabilize them. They are suggesting that people cannot trust cryptocurrencies, but they can trust the regulators and bankers to control their digital wealth for them.

This is a current theme within the banking Top German Banker Warns Cryptocurrencies Could Precipitate a Financial Crisisconglomerates’ narrative. Many banks and banking elites have taken notice of the stellar rise of cryptocurrencies, especially bitcoin and Ethereum. In this sense, they have issued commentary about regulating and usurping these digital assets.

Recently, Bitcoin.com covered commentary by Investment Bank Stanley Morgan, in which they said bitcoin would not grow without adequate regulations and control. These controls presumably include the use of “permissioned blockchains.” In some places, courts have actually given banks authority to deny service to blockchain-based companies. This happened in Israel, because “The bank told the court that it fears how criminal organizations can send their ‘monkeys’ to buy bitcoins and transfer them to wallets under their control.”

However, not all banks have had as a heavy-handed mindset. In Russia, bankers want to regulate the currency, but they want to embrace it as well. They do not appear wanting to control it to the point of trying to undermine its original purpose. They certainly do not believe the currency will cause a financial collapse and destroy all the things.

Will cryptocurrencies like bitcoin remain unstable and volatile without help of central bankers? Let us know what you think in the comments below.

For Newbie Of Crypto Currency

1. Bitcoin

Bitcoin is the first cryptocurrency . Satoshi Nakamoto ( the anonymous bitcoin creator) created Bitcoin in 2009  . Bitcoin holds the first place on the market for the biggest market cap to date march for a  $17billion, Overpassing all other cryptocurrencies even if we put all them together.

For many people, the word cryptocurrency means  Bitcoin. Because Bitcoin is the most famous coin  and other coins are only considered bitcoin alternatives.

What is Known for? It is known for  being the first, highest price, most used

2. Ether

Ether is the Ethereum currency, This is a decentralised platform for peer-to-peer smart contacts.

Ethereum was created by Vitalik Buterin in 2015 . Ethreum is widely adopted and is considered a bitcoin alternative and was marketed as the “next cryptocurrency  generation and decentralised app platform” Ether has a market cap of $3.9 billion.

Ethereum is known for the peer-to-peer smart contracts. It makes possible to people to code and execute contracts without third parties. This guide explains how to write your first smart contract and deploy to the real network.

Known for: smart contract, Bitcoin alternative, decentralised application platform

3. Monero

Monero is often labeled as an ‘anonymous’ cryptocurrency, but it’s not. Monero currency that is  focused on privacy – using the ringing signature technology, Monero is private untraceable and secure.

The large adoption of this cypyo makes Monero one of the top 10 cryptocurrencies with a $322 million market cap, Mostly it is used by people who prefer to remain incognito on the net.

Known for:  privacy

4. Litecoin

Litecoin was created by Charles Lee a former Google employee in October 2011. The idea was to create a Bitcoin  alternative.  Litecoin is very similar to Bitcoin, it can be mined, used as a normal currency and transacted on all the major exchanges.

Litecoin has a market cap of  $200 million, but on the highest peak Litecoin reached $1.2 billion market cap in 2013.

Known for: Bitcoin alternative, similar to Bitcoin

5. Ripple

Ripple is another cyptocurrency , unlike others on the list is more focused on banking system. Ripple, is currency exchange, a real-time solution system and a remittance network. The coins are called ripples. It was released in 2012 and currently has a market cap of $262 million. Some banks have integrated the Ripple system to reduce costs.

Known for: focused on banking system, real-time solutions

6. Golem

Golem is a decentralized disytributed computation network based on Ethereum.In the golem system users can buy or sell computation power, for example you can complete on your own computational-heavy tasks using other cumputation power or selling your own computational power to someone who needs it.

Golem market cap is now valued at about $50 million dollars.

Known for: most powerful supercomputer in the world

7. Dash

Dash or previously Darkcoin is mainly focused privacy and transaction speed. Dash uses strong anonymization technology. The reason why they rebranded the name was a try to stop being asociated to the dark web.

Ranked seventh in the list, Dash has a market cap of $752 million. Dash is ranked most of the time the second most exchanged cryptocurrency after Ether on Poloniex exchange platform.

Known for:  fast and anonymous

8. MaidSafeCoin

MaidSafecoin is a security centric data system which makes possible to people to provide space on their computers in exchange of coins.

Many decentralized apps are currently using the SAFE (Secure Access For Everyone) network to store data securely

The market cap actually is about $78 million.

Known for:  security-centric data platform

9. Lisk

Lisk is a unique cryptocurrency with a modular system that unlike other systems on the list except Ethereum, can be used by anyone to make their own decentralized apps ‘dapps’ in Javascript language.

This new concept making possible creation of many types of apps added more value to Lisk ,

Lisk has a market cap of  $25 million to date.

Lisk is Known for: coders make dapps, platform using sidechains

10. Ethereum Classic

Ethereum classic was created as a result of the DAO attack when the cryptocurrency split  into 2: Ethereum (ETH) and Ethereum Classic (ETC).

Ethereum Classic and has a market cap of $175 million

Known for: smart contract,ethereum split

Conclusion

Cryptocurrencies are in continous change of ranking and over time new cryptocurrencies with new avantages will appear and maybe old ones will wanish, but one thing remained the same for long time and maybe will be for a long time , it is that Bitcoin is considered a safe heaven in the cryptocurrency exchange system.  shutterstock_624002249-11-640x426

The Hidden Reason Behind Bitcoin’s Increasing Fees: Darknet Mixers

Just recently a darknet marketplace (DNM) vendor who details he’s been involved with the bitcoin industry for five years, says the rising fee market is caused by marketplace mixers that process multiple transactions at a time. The vendor details that DNM sales using these mixers are forcing him and many others to pay for 50 transactions at a time at ten times the cost, to cover their tracks.

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As Global Bitcoin Exchanges Suffer From Increased Use — Darknet Marketplaces Are Also Busier Than Ever

The Hidden Reason Behind Bitcoin's Increasing Fees: Darknet MixersAs much as people don’t like to talk about it, bitcoin has been used widely across DNMs across the deep web for years. Many people believe the lion’s share of bitcoin transactions come from DNM sales. Since the inception of the first DNM — the Silk Road — illicit narcotic sales have increased exponentially. Furthermore, two years after the sentencing of the Silk Road operator there are more online marketplaces located on the deep web than ever before. Over the past year, these markets have been extremely busy as bitcoin’s value has skyrocketed and many of the top underground market users have reported on experiencing big issues with withdrawals.

According to many forum posts, a lot of people have been having problems withdrawing from the leading DNM Alpha Bay. Additionally, there have been congestion issues over the past month on other popular markets such as Dream, Valhalla, and Hansa.

“Add me to the long list of people who can’t get their funds out of Alpha Bay,” explains a DNM consumer on Reddit. “I have been trying to withdraw a couple of hundred dollars worth of BTC for several weeks now. I go the transfer page, fill in all of the information, but after I submit the transaction, the page refreshes like the transaction has gone through, but when the page is done refreshing, it’s like I never submitted a transaction.”

Fee Pressure Stemming From Darknet Markets

According to one particular DNM vendor, he believes the super high fees lately are attributed to black market sales. Nobody seems to understand the rising fee market is coming from that “invisible” web.

Drugs, drugs, and more drugs — None of you are recognizing that most of the fee pressure comes from darknet markets; most especially from DNMs like Alpha Bay that has a built in mixer and causes 20-50 + transactions

The vendor who deals with cannabis sales details that in his opinion DNMs are “responsible for the lion’s share of bitcoin transactions daily.” According to him, there are hundreds of thousands of transactions coming from DNMs daily, rated around 550-600 satoshis. The obvious reason for this he explains is so “drug addicts can get their shit as fast as possible.” Many of the top DNMs found on the deep web have their own mixing services for customers who want to cover their tracks. The tumblers used on Alpha Bay and other DNMs continuously split transfers into multiple transactions at a time, which could quite possibly be adding more strain to the bitcoin network’s throughput.

Darknet Mixers May Be Putting Pressure on Bitcoin's Fee Market
An example of 16.1 BTC being mixed into multiple outputs.

The cannabis dealer states the bitcoin network fee estimation is “way off the radar” these days, mainly because DNMs are catering to addicts who want their products shipped as soon as possible.

DNM Sales Still Account for a Great Majority of Bitcoin Transfers

There is no doubt that DNMs are getting used far more than they were back in 2013, and back then the underground sales attributed to a vast majority of bitcoin transfers. The vendor’s theory may be more truthful than a lot of people would like to admit, as much of the focus these days has been on mainstream adoption. The likelihood of the fee market and network congestion rising due to more DNM usage is quite probable even though the discussion is not so favorable to everyone.

What do you think about DNM use boosting the fee market and adding to the network congestion? Let us know what you think in the comments below.

Dentacoin: The First Blockchain Concept for the Global Dental Industry With an Exclusive Hard-Capped Presale

Dentacoin (DCN) is a new Ethereum-based token, customized for the Global Dental Industry. Dentacoin is already implemented by first Partner Dental Clinics as a means of payment and as a part of their Patient Loyalty Programs. The initial experiences gathered foresee a highly promising future.

The Concept
The pilot project of Dentacoin is the first Blockchain-based platform for trusted dental treatment reviews. Through creating and implementing it, Dentacoin will allow patients to raise their voice. Simultaneously, dentists will have access to up-to-date, extremely valuable market research data and qualified patient feedback – the most powerful tool to improve service quality and to establish a loyal patient base. Through a self-executing Smart Contract, the Dentacoin review platform will assure optimal autonomy, trust, speed and safety. No manipulations are possible.

What makes it different?
Dentacoin Review Platform aims at being the most functional review and market research system ever, due to the transparent, incentive-based and censorship resistant nature of our blockchain based solution. Through a self-executing Ethereum Smart Contract, the Dentacoin review platform will assure optimal autonomy, trust, speed and safety. No review manipulations are possible.

Supporting Tools
Dentacoin’s one-of-a-kind feedback platform will be supported by various other value-creating solutions devoted to the same purpose – to improve dental care quality worldwide. These include: a dental insurance model, a healthcare database, an aftercare mobile app, an educational website.

Distribution details
Dentacoin token is produced in a limited amount of 8 trillion Dentacoins (8 000 000 000 000 DCN). The distribution mechanism doesn’t allow for more Dentacoins to be produced ever, nor can more Dentacoins be mined.
Dentacoins can be owned by earning and buying.
Earning happens at our Partner Clinics, as part of their Loyalty Program. In the near future, when our supporting tools are developed, there will be more ways to earn Dentacoins.

On 1st of July we launch an Exclusive hard-capped Presale which allows early adopters to buy Dentacoins around 2.5 times cheaper for people who support from the very beginning our Mission to improve Dental Care quality worldwide by giving the power to the hands of the people.Dentacoin-Global-1-640x480

Bitmari Becomes First Bitcoin Company to Partner With an African Commercial Bank

Bitmari, the largest pan-African wallet provider, is making history by partnering with the Zimbabwe Bank of Agriculture to integrate bitcoin into their products.

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Bitmari Has Applied for an International Remittance License With the Reserve Bank of Zimbabwe

Africa is well documented as the world’s region with the least developed banking sector and the most underbanked citizenry. Bitcoin has long been seen as a potential solution to this problem, and many wallet providers and remittance services have flourished in Africa. Following the success of BitPesa, Bitmari has been among the most successful bitcoin companies in Africa, offering wallet and remittance services to citizens in several different nations.

In addition to partnering with the Zimbabwe Bank of Agriculture, Bitmari has applied for an international remittance license with the Reserve Bank of Zimbabwe. If successful, Bitmari will become the region’s first licensed international remittance business based upon bitcoin.

Bitcoin and Blockchain Technology Are Sure to Play an Increasingly Significant Role in Africa’s Economy Throughout 21st Century

Since being founded in 2015, Bitmari has generated great attention through its philanthropic programs designed to assist female farmers, and Bitmari’s staunch desire to use the blockchain as an instrument for political change. “We think technology is a better method of solving problems than politics”, co-founder Sinclair Skinner stated in a 2016 interview with Ebony Magazine. “Bitmari is utilizing the wisdom of Zimbabwe and the resources of Silicon Valley to build fintech applications that will change the speed and flexibility of transactions throughout Africa,” Bitmari co-founder Christopher Mapondera told reporters in a recent interview.

Bitmari is hoping to offer superior remittance services to Africa’s enormous agricultural sector, which currently incurs exorbitant fees in order send and receive money internationally and exchange between currencies. With Africa’s agricultural export industry accounting for approximately 50% percent of the region’s economic activity, being able to bypass the conventional banking system could allow African farmers and businesses to keep a significant additional percentage of profits. “Blockchain technology will allow Agribank and future indigenous African banks to leapfrog traditional remittance methods. Financial inclusion creates empowerment and ultimately stronger economies,” stated Skinner.

Despite Bitmari’s moves towards partnering with mainstream African financial institutions, there is very little regulation pertaining to bitcoin or cryptocurrency established in Africa. Few nations have offered official guidelines for businesses to operate within, nor have proposals for government regulation been developed. This absence of regulatory guidelines may present future challenges to Bitmari, as it seeks to embed its services into the economies of nations who are yet to develop or consider regulations for cryptocurrency.

With over $60 billion USD lost from the African economy due to remittance fees, bitcoin and blockchain technology are sure to play an increasingly significant role in Africa’s economy throughout 21st century.

Do you think that Bitmari will be successful in their application for an international remittance license? Share your thoughts below!