Copper chosen by SWARM as preferred digital custodian

SWARM, an infrastructure provider for the issuance and trading of digital assets, has selected award-winning Copper as its preferred digital custodian. The integration of Copper’s solution will provide the institutional grade security fundamental to the mass market trading of digital securities.

Copper’s technology will secure assets held or managed as well as delivering settlement services through APIs, which trigger subsequent processes for the SWARM (SWM) that are wrapped to be invested into for investment opportunities on the SWARM platform.

Dmitry Tokarev, CEO and Founder of Copper
Dmitry Tokarev, CEO and Founder of Copper

Copper already provides custody for multiple crypto funds and investors operating a full range of investment strategies. The company also plans on providing custody for fiat in the future.

Copper has recently improved the security protocols of its custodial service further by adding military grade optical air-gapping. This enhancement ensures the complete security of an offline repository of asset owners’ sharded keys during the transaction signing process.

Philipp Pieper, Co-Founder of SWARM, has commented: “The integration between Copper and SWARM is a great fit due to the compatibility of our technologies as well as our teams.

“Copper provides the level of institutional grade security and convenience that is absolutely essential for the adoption of digital securities by institutional investors and the retail market.

“Philosophically, we have found in Copper a team who are committed to the growth of a broad ecosystem for digital securities, who share our innovative spirit, and who know that we will all get further, faster when we build together.”

Dmitry Tokarev, CEO and Founder of Copper, has commented: “SWARM is at the forefront of the emerging security token investment industry and we are excited to enable its vision.

“Although the crypto industry is evolving rapidly, it still needs large institutional involvement before the space can fully-mature.

“This cannot be achieved without proper custody solutions ensuring assets are secure alongside solutions that help institutions easily navigate the industry. The partnership between SWARM and Copper puts us at the forefront of developing the infrastructure for financial services 2.0”.

BitMex Beginner’s Guide and Review 2019

Operating from Hong Kong, BitMex was founded in 2014 by web application expert Samuel Reed, ex banker Arthur Hayes and Ben Delo whose background spans across building high frequency trading systems. This dynamic trio brought over 40 years worth of financial experience to the project to provide investors and traders with access to the global market using only Bitcoin. BitMex incorporated in Seychelles and is unregulated in any jurisdiction at present.

bitmex homepage

BitMEX, short for Bitcoin Mercantile Exchange, takes inspiration from the CME group which is also known as the Chicago Mercantile Exchange.

At the time of writing BitMEX has surpassed all competitor exchanges with its daily trading volume exceeding $1.2 billion dollars (~200,000 BTC).

The majority of cryptocurrency exchanges accept a wide range of digital assets for making deposits into the hot wallet however BitMEX currently only allows Bitcoin. However this has little impact on its user base as it is targeted more at professional traders with financial experience. The products BitMEX offers are based around derivative trading, more specifically Bitcoin futures, perpetual contracts and BitMEX UP and BitMEX down contracts.

In short derivative trading is an agreement between two separate parties that requires one party to purchase the underlying asset (Bitcoin) and the other to sell that asset on a date in the future. This doesn’t have to be tied to a physical products but for the example below it is to make understanding the concept easier.

The best way to explain Bitcoin futures is using common day to day grocery shopping. If I gave you $20 dollars for 100 eggs ( Yup! I love eggs 🙂 ) the transaction is immediately settled, but with a futures contract the settlement is agreed at a specific time in the future for a set amount meaning two elements are the price and date of delivery.

For example a humble egg farmer may be worried that the egg consumption could drop or rise in the future for any reason and thus could take advantage of this by locking the price with the buyer which means a more financially stable company. The other party would agree to this price as they may think the egg price could change in their favour determined on the type of bet. Fast forward to the future, let’s say the consumer demand for eggs rocketed due to a health trend, this might mean the price of eggs drops as sellers try to shift as many eggs as possible, the farmer is not affected by this as he locked in the price with a futures contract.

The above example of a futures contract works exactly the same but for Bitcoin, it could be based on rumour, hearsay, demand, news, regulation or anything that affects the price of Bitcoin. It essentially opens an arena for various parties to bet on the outcome based on speculation.

How to Sign Up to BitMEX

To setup an account with BitMEX, users need to register on the website by providing an email address, password, country of residence and full name. Once you have activated the account through email you can proceed with trading as no KYC or AML checks are required to deposit or withdraw funds.

BitMEX currently does not allow traders from the United States to register as it does not function within the legal framework. This is not necessarily a bad thing but could be down to a number of factors such as over zealous regulations by the SEC. It has been noted on social media that people in the US are bypassing the IP checks with a VPN.

How to Use BitMEX

Users can trade a wide variety of digital assets including Bitcoin, Cardano, Tron, Bitcoin Cash, Ethereum, Litecoin and Ripple cryptocurrencies against fiat currencies such as Chinese Yuan, US Dollar and Japanese Yen.

bitmex trading view

Unfortunately if you are new to financial trading then BitMEX will feel overwhelming but for those who have dabbled with financial instruments before it is easy to get to grips with. We do not recommend using BitMEX as a beginner unless you are very well versed in leverage trading.

All trading instruments can be found by clicking the trade tab once logged in.

To open an orderbook click as specific asset such as Bitcoin from the top pane, this will display the most recent trades in the right hand side tab followed by the trading chart and orderbook to the left. The charts can be used to analyse historical trading data.

You will also notice in the top right a customise button which allows the user to choose their viewing preferences with full control of the orderbook widget, depth chart, price chart, recent trades and positions & open orders. The trading chart data is fed directly from TradingView which is a recognised and trusted 3rd party data platform.

When a user places a trade on the BitMex platform it can be viewed in the trading interface with the option to view active and filled orders including the stops which are in place. All active orders can be canceled by the user at any point with the analysis of whether it is in red or black

Futures and Swaps

As previously explained a Bitcoin futures contract will enable a user to sell or buy Bitcoin in the future at a predetermined price. Users can leverage up to 100x on these contracts.

Perpetual swaps are not dissimilar to bitcoin futures other than that they have no settlement or expiry date but they trade along with the underlying reference Index Price whereas futures diverge from the Index price.

Prediction based Binary contracts can be also traded but they settle at 0 or 100 and designed for making a bet on any given event. Binary contracts are traded with zero leverage, a 0.25% taker fee, a, 0% maker fee and 0.25% settlement fee.

Leverage

BitMEX also enables traders to margin trade where positions can be leveraged by placing orders larger than the users current balance which could lead to a higher profit.

However margin trading can be extremely dangerous for inexperienced traders as all profits can be quickly liquidated, meaning the amount of money in their wallet will be taken.

The maximum leverage a user can take out is 1:100 which is much greater than other exchanges who sit at 1:20

BitMEX Fees

For Perpetual contrats BitMex has a 00x leverage, -0.00250% maker fee, 0.0750% taker fee, 0.0100% long funding, short funding fee of -0.0100% with a funding interval of every 8 hours.

The traditional futures fees for all tradable assets have a similar maker fee from -0.0250% – -0.0500%, although the leverage varies from 20x for example with Tron right up to 100x with Ethereum.

Deposits and Withdrawals

At present BitMex does not charge fees on withdrawals or deposits. When a user withdraws Bitcoin, the minimum network fee is set automatically based on the blockchain load which is currently low.

Users can withdraw and deposit Bitcoin at their leisure with no limits although the minimal deposit is 0.001 BTC.

To withdraw or deposit, a QR coded address is displayed when clicking the “account” tab along the top pane.

Although a user can withdraw Bitcoin at anytime, BitMEX has implemented a cut off time set at 13:00 UTC which means if you process a withdrawal after that it will be completed the next working day. This has been designed to stop automated deposits and withdrawals by bots or hackers on the hot wallet and provides the staff with sufficient time to cancel any fraudulent withdrawals.

Is BitMEX Safe?

BitMEX states on its website that it does not compromise security for convenience with their ethos based on rigorous and well tested security measures to make the platform bullet proof.

The deposit and withdrawal system is multisignature which means each time this processes is initiated its then checked by the majority of BitMex partners to ensures its legitimacy. By using multisignature it prevents users funds from being accessed by a hacker if they manage to compromise the hosting server or database.

The BitMEX trading engines uses kdb+ which is a database and toolset used by major banks and other high speed financial trading platforms.

PGP encryption is used for all communication across the board

BitMEX Customer Support

BitMEX runs a mixture of support and contact methods including IRC, Reddit, Twitter, support tickets and email contact for dealing with customer enquiries 24/7 which has often been praised as responsive on reddit.

Customers can also access an extensive frequently asked questions section for basic enquiries they may have.

Conclusion

BitMEX has an established following among traditional Wall Street traders who are familiar with margin trading. The platform is not designed or marketed towards beginners who simply want to purchase Bitcoin. In fact this is not even possible at the moment as you must own/ deposit Bitcoin before using the platform. So if you are looking to trade with futures and take advantage of the 100x margin, BitMEX is for you!

We advise everyone to start with a small trade due to the high potential losses which can occur with the type of trading on offer.

Users with no prior trading experience whom are simply looking to buy Bitcoin or other cryptocurrencies we recommend stepping away from BitMEX, you may want to read our review on the Binance exchange which is more user friendly for beginners.

Pro’s

  • Great for experienced traders
  • Can leverage 100x
  • Fast trading engine

Con’s

  • Hard to use for new traders
  • Can loose funds quite easily if not familiar with leverage trading
  • Controls a large portion of the market

Thanks for reading our BitMEX review, if you would like to visit the website for more information please visit: https://www.bitmex.com or check out the Reddit for any community support queries here: https://www.reddit.com/r/BitMEX/

Mastercard has approved the first crypto debit card in Europe

Tap n Go (TAP) has partnered with Transact Payments Limited (TPL) to provide the Tap Prepaid Mastercard® that will allow customers to convert Crypto Assets held with TAP for spending wherever Mastercard is accepted.

The TAP accounts with multiple crypto and fiat wallets and will have access to real time crypto trading with numerous exchanges, all assets are held securely in multi signatory “cold storage” wallets or electronic money client accounts.

Tap n Go have applied to the Gibraltar Financial Services Commission for a DLT licence which is currently under review.

Arsen Torosian CEO of TAP commented: “the launch of TAP has been in the making for a number of years, our partnership with TPL for our provision of the TAP Prepaid Mastercard was the final piece of our vision. We are delighted to have TPL as our partner for this product”

Kriya Patel, MD of TNL commented: “TPL are delighted to be supporting the TAP Prepaid Mastercard project and look forward to continuing to work with such an initiative partner like TAP with the roll out of their in-demand solution”.

The top cryptocurrencies to invest in 2019

We think these altcoins should be part of your 2019 investment portfolio

Sia

The cloud storage industry is currently dominated by DropBox, Google, Microsoft and Amazon. These companies have taken the lion’s share of customers in the file hosting space however this is very likely to change. A small and fairly unknown blockchain startup going by the name of Sia aims to end this monopoly by redefining the technology and processes behind cloud storage.

The current methods of storage rely on massive data centres and server farms to both store and retrieve data. This centralised approach creates a number of issues. For example:

Control – One company having full control over your data.

Ownership – Who owns your data and how will they use it, sell it and profit off of it.

Security – Centralisation means bugs, malpractice and hackers can target very specific companies and infrastructure. In fact DropBox lost 68 customer million passwords not so long ago and for a short period of time and any user could access the data of other users at will.

Scalability – Each organisation needs to operate massive data centres to fulfill the storage and processing needs.

As these companies become even bigger the issues above become compounded.

The blockchain technology behind Sia is completely new for the industry and takes a more decentralised approach to solve the issues above.

When a customer uploads a file to the network it is automatically encrypted and split up into hundreds of tiny pieces. Only the uploader has the private keys to decrypt and view this data. All these encrypted pieces of data are then uploaded across many hosts and duplicated for impeccable redundancy.

With Sia storage is no longer controlled or owned by a company. Instead anyone can become a file hoster by leasing spare unused hard drive space to store encrypted data. File hosters and uploaders create a sort of digital handshake called a ‘smart contract’ which manages the storing of data between the two parties and pays the renter for the hard drive being used by the uploader.

With Sia clearly solving very real storage issues and making great progress with the project we believe it is a great time to invest in the project.

A $1,000 investment today would get you 113,000 Sia.

Ripple

Ripple takes blockchain technology and applies it to the traditional banking sector, resulting in trustworthy, verified, scalable, instant and cheap banking transactions.

For example the current Faster Payments banking service is an initiative between several banks to reduce the time of transfers between registered bank accounts. However transfers outside of that scheme take much longer and are routed through third party intermediaries. This process is not only risky but also labour and time intensive. Ripple solves these problems.

At the time of writing over 100 banks across the globe are trialling Ripple’s blockchain technology. Some of these banks include Santander, UniCredit and most recently the world’s largest Islamic bank, Al Rajhi Bank.

We think the technology behind Ripple will likely become the financial industry standard in the not too distant future.

Ripple has been within the top ten 24 hour volume across all cryptocurrencies and assets for several months now and it’s XRP currency has reached highs of $0.40.

A $1,000 investment today would get you 5,400 Ripple.

Stratis

The Microsoft backed Stratis platform is known as the C# equivalent to Ethereum. It enables programmers to produce decentralised, smart contract based apps very quickly and easily using a tried and tested programming language that has stood the test of time.

This opens it up to an already massive developer base with little to no additional learning required, giving it a clear edge over Ethereum.

Stratis is also poised to release its long awaited TumbleBit service and smart contracts in Q3 of this year and is developing the “Breeze Wallet”, a wallet feature that aims to boost privacy of both Bitcoin and Stratis users.

In the last month Stratis saw significant highs followed by a very quick drop. The coin reached all time highs of $11 but currently trades at $3. This is an ideal opportunity to buy in whilst the price is still low.

A $1,000 investment today would get you 160 Stratis.

Golem

Golem is on track to becoming the world’s first decentralised supercomputer. It utilizes the Ethereum blockchain to harness the unused/ idle power of millions of connected resources and turns it into sellable computing power.

Many companies and individuals require a service like this and currently have resort to small scale farms that can take days to process/ render and cost a small fortune.

For example games developers, film studios, data mining operations and medical researchers have to use vast amounts of processing power to complete very specific tasks. With Golem all these companies will have an always accessible, affordable supercomputer at their fingertips.

With its vast processing power Golem can also be used for making predictions across different industries such as betting, stock markets and even environmental changes.

Anyone with a computer can lease their unused processing power and in return get paid in GNT tokens. These tokens can be re-used, transferred to an exchange for trading or sold for more traditional currencies such as USD/GBP.

When taking a step back and assessing Golems end goal it offers a very unique investment opportunity not seen with any other project. It has many real world, life changing uses and the possibilities are endless.

Sitting at just $0.23 cents Golem is criminally cheap right now.

A $1,000 investment today would get you 3,500 Golem.

Monero

Monero is somewhat of a crypto veteran. The coin doesn’t mince its words and does one thing, albeit extremely well. It is currently the most secure and private coin on the market.

Anyone looking to make a safe long term investment would be wise to invest in it. The coin is seen as the ‘gold standard’ for privacy conscious users looking to stay permanently in the shadows. In fact Monero is in the top 5 most used cryptocurrencies for day to day purchases and traded across the Dark Web making it one of the few coins that is actually used as a currency.

A $1,000 investment today would get you 24 Monero.

Verge

Verge is an interesting (and possibly controversial) entry.

Like Monero it is aimed at users who take privacy seriously and combines Tor and i2p technologies to increase blockchain anonymity.

The project has one of the most active communities with a huge development team regularly ticking off new and exciting features on the roadmap. In June alone Seven major new features were pushed live.

Everything from Tor based Android wallets to RSK Smart Contracts are planned for July making this coin one to watch, especially at its current price. Despite recent price volatility the project is moving at a very quick pace and we believe this will be reflected in its price very soon.

So that’s it! There are many other projects we would have liked to add and others that ‘sound great’ (ICO frenzy anyone!!). As these projects mature and show their progress they will also be assessed and our verdicts shared. Good luck.

A $1,000 investment today would get you 324,000 Verge.

Go Global with Cryptocurrency Accounting Platform

Recap, a privacy-focused accounting software platform for cryptocurrency has secured a sizeable grant from Innovate UK to help launch its services worldwide.

Recap has been granted £135,136 as a winner of the Transforming accountancy, insurance and legal services with AI and data competition. The funding was provided through the Government’s modern industrial strategy by Innovate UK, part of UK Research and Innovation.

Recap is an encrypted, bespoke platform which allows those with complex cryptocurrency portfolios to track, manage and strategise by bringing all the information into one platform. One of its key features is to track the large numbers of taxable transactions many investors in cryptocurrencies incur, sometimes on a per second basis.

Co-founder and Director Daniel Howitt said: “It’s exciting times here at Recap, we have an ambitious backlog of work to deliver by March. The US tax deadline for the 2018 tax year closes mid-April. We want Recap to be available way ahead of this deadline, meaning we need to internationalise the product, design and build a US capital gains tax engine and also fully monetise the product so we can start collecting annual subscription revenue.

“The US launch comes off the back of our successful private beta launch to early adopters in the UK.”

The fintech start-up, based in the East Midlands and founded by Directors Daniel Howitt and Ben Shepheard and is the first platform of its kind in the UK and is supported by software experts Selenity and chartered accountants Wright Vigar.

Daniel added: “Our seed raise of £150,000 will allow us to meet the match funding requirement of our £135,000 grant to give us £280,000 investment.

“These funds will allow us to develop our transaction matching IP, release our 1.0.0 version of the product and actively market the platform in the UK and US.

Recap is currently raising a £150,000 seed round led by a cryptocurrency investor and customer of Recap.

To find out more, visit the website here: www.recap.io

From Centralised Slots to Decentralised Kitties: The Evolution of Online Gaming

The online gaming industry is one of the biggest success stories of the last two decades. Starting out at nothing more than a handful of rudimentary sites at the end of the nineties, online casino gaming alone is now worth upwards of $51 billion/£39.5 billion. Naturally, as the industry has become more lucrative, technology, tastes and gaming options have evolved. Indeed, when you compare early online gaming to today’s emerging blockchain-based creations, things have changed markedly.

Building the Foundations of Online Gaming

“Equations in my dreams” (Public Domain) by tcctrain

If we go back to 1999, Playtech was one of the first developers to harness the power of random number generator (RNG) software. Following the example set by Microgaming in 19995, Playtech’s developers found that complex algorithms could recreate random scenarios. With technology able to ensure a fair result, the company set about developing some of the earliest online casino games. Two decades later, this technology still forms the basis of all online casino games. Whatever title you select inside https://games.paddypower.com/c/slots, the underlying RNG technology will be the same as it was back in 1999. Yes, it will have been refined. However, the fundamental principles are still in place, meaning that everything from Electric Tiger to Gold Frenzy are fair.

From this base, online gaming has cherrypicked ideas and innovations from across the gaming industry at large. For example, almost all online bingo sites now have chat facilities, emojis and more. Essentially borrowing from https://www.facebook.com/games/, bingo sites now offer the same social experience as Words with Friends or 8 Ball Pool. Beyond socialisation features, live streams have become popular. Taking inspiration from https://www.twitch.tv/ and other streaming platforms, developers have been able to create live gaming experience. By combining webcams with RFID technology, players can now interact with real dealers hosting real games inside specially designed studios.

Can Blockchains Decentralise Casino Gaming?

“ETC Wallpaper – No Cryptokitties” (Public Domain) by EthereumClassic

The question is, how will online gaming evolve with the help of blockchain technology? Visit https://www.cryptokitties.co/ and you’ll start to get an insight into the direction blockchain gaming is going. Although an early attempt to utilise decentralised technology for recreational purposes, Axiom Zen’s Cryptokitties has one interesting feature that could be used to improve player safety. As part of the game, each Cryptokitty is represented by a non-fungible ERC-721 token. This allows ownership of the virtual cat to be tracked via Ethereum’s smart contract system. Applying this idea to online gaming, developers could use it to track player IDs. On the one hand, this would reduce the risk of fraud as it would be easier to track and control transactions between players and between players and the casino. Additionally, this technology could be used to create a multifaceted casino ecosystem.

In today’s online gaming community, players have to create individual accounts. By tracking players in the same way Cryptokitties are tracked, it could be possible to bridge the gaps. In other words, players would create a central account which could then be used to access multiple sites. As it stands, many of the leading brands are part of a larger network. Therefore, with this technology, it could be possible to link players across all sites within the network. By marking each account with an ERC-721 token, everything from a player’s personal details to their account balance and playing preferences would become decentralised (i.e. not held by one site). While this would require cooperation and communication between casino brands, the fact networks already exist suggests it could work. Indeed, if online casinos were able to take something from Cryptokitties, it would give players more flexibility, choice and, ultimately, provide a more entertaining experience.

Here’s How Cryptocurrencies Could Change the Gaming Landscape

Cryptocurrencies and the blockchain have started to change many aspects of our lives and entertainment in recent years. However, one area that appears to have been slower than others in adopting this approach is that of gaming.

At first glance, there are a lot of areas of crossover between cryptos and gaming. Some people have even suggested that gaming paved the way for these coins to appear as per https://medium.com/singulardtv/how-video-games-helped-pave-the-way-for-cryptocurrency-f930521eef55. Yet, the expected surge in this area hasn’t appeared so far. In what ways could these industries come together in the future to change the gaming landscape?

“a gamer of XboX” (CC BY-SA 2.0) by AleZZitO1

Gaming ICOs Being Launched

There is work being done on numerous new decentralised gaming solutions. These are projects that use the blockchain and introduce their own cryptocurrencies that users can typically earn, buy or exchange.

Among the biggest and most talked about ICOs of this type is Bountie, with full details on it to be found at https://www.bountie.io/tokensale/. This is a platform that promises to use AI and IoT in order to modernise the world of gaming.

Another project of this type is called ALAX. In this case, the idea is that players in developing countries can play on their mobile devices even if they don’t have access to traditional banking facilities. The platform uses their own ALX token to monetise gaming, as described on their site, https://alax.io/tokens/.

Unless an ICO offers something new and useful, the fact that it is decentralised isn’t going to be enough. Let’s not forget that over half of all ICOS fail in the first few months too, according to the Boston College research at https://www.coindesk.com/over-half-of-icos-fail-within-4-months-suggests-us-study. So, there is no guarantee that these new platforms will succeed. Many gamers are happy to play in the ways that are currently available to them.

Indeed, among the most popular gaming options gaining ground right now are online casinos. These are websites where numerous casino games are brought together. For example, at https://casino.betfair.com/c/slots we can see dozens of slots ranging from Hot Gems to Grease and from Big Bear to Captain’s Treasure.

Source: Pixabay

Playing with Digital Currencies

Another possibility is that players start to use cryptocurrencies such as Bitcoin to fund their games online. This may seem like a natural progression, since many gamers are now used to using in-game tokens and currencies.

However, perhaps the volatility of virtual currencies will play a big part in how widespread this becomes. Since these coins can gain or lose value very rapidly, anyone who pays using them is essentially making an investment rather than simply exchanging tokens.

It seems fair to say more stable cryptocurrency prices are likely to encourage more gamers to use these coins. There are certainly some good reasons for thinking this is a good idea. For example, it allows for virtually anonymous spending and means that no link to a bank account or credit card is needed.

It wouldn’t be a big surprise if the future were to bring a closer relationship between gaming and cryptocurrencies. Having said that, it would appear that we are still waiting for the perfect combination of these technologies that allows gamers to use cryptos to their full potential.

 

 

Could Online Gaming Aid the Growth of Cryptocurrencies?

The growth of cryptocurrencies has been a source of many headlines in the last few years. Yet, research by Finder shows that only 8% of Americans have invested in these digital currencies. What is needed to help them to truly break into the mainstream?

One suggestion is that online gaming could be the key. Could gamers around the world give Bitcoin, Ethereum and other coins the boost they need to move to the next level of popularity?

“Young gamer playing video game wearing h” (CC BY 2.0) by nodstrum

Gamers Are Comfortable with Virtual Money

Perhaps the most important factor here is that gamers were comfortable dealing with virtual money long before most other people had even considered the idea. This has been an important part of many games for some time, but it is the Mesos used in MapleStory from Nexon that are widely credited as being the first gaming currency to really take off.

The most popular games now have giant economies spring up around them. Gamers are happy to spend their fiat money on virtual tokens that can only be used in a certain game. This concept has seen the gold mining industry in World of Warcraft pass the “$2 billion mark”, while in-game revenue in FarmVille is now over $1 billion.

Non-gamers tend to need to make a mental shift to value digital money as much as the paper currency they can hold in their hand, whereas gamers already understand that digital tokens can be just as valuable to them.

The global gaming industry is continuing to grow at an impressive rate. According to a forecast from analysts Newzoo, the $134.9 billion market value in 2018 was a 10.9% increase on the figure achieved in 2017. As more new gamers appear, the concept of cryptocurrencies is likely to be more widely accepted.

Players Spend These Currencies to Buy Games or to Play

It is still a fairly common assumption that Bitcoin can only really be used by gamers. Indeed, it is easy to imagine that some people have failed to invest in cryptocurrencies so far because they believe it is of no use unless they play games.

While there are now many other ways of spending Bitcoin, it is true that gamers can spend or earn these coins more easily than other people. On many sites, it is possible to buy games and there are games where you use virtual coins as you play. Steam has stopped accepting this currency but others, such as MMOGA and Microsoft, let you shop with virtual coins.

A case where future progress is expected is in internet casinos, where Bitcoin deposits and withdrawals make sense. At the moment, there is a limited number of Bitcoin casinos. The big-name casinos, the ones with dozens of slots, table games and live dealer lobbies, such as Paddy Power, have so far tended to stick to traditional payment methods.

If acceptance of cryptocurrencies goes mainstream, with gaming sites like this beginning to adopt them, the demand for them will greatly increase. People will also become more trusting of cryptocurrencies if they begin to use them on a regular basis for something that gives them a lot of pleasure.

Indeed, the world of gaming is still closely linked to cryptocurrencies. There is a good chance that any major growth in the future will be linked to gamers and how they spend their money online.

Take a sneak peak at v1.0.0 of Upfiring’s dApp

Upfiring’s is a blockchain firm were keeping a close eye on here at CoinSpectator, the team recently showcased a demo of the dApp for its upcoming v1.0.0 release.

The firm is looking to revolutionise the P2P file-sharing sector by utilising the Ethereum blockchain.

Take a look at Upfiring’s v1.0.0 demo below:

 

Launch of CEDEX – Blockchain Diamond Exchange going live in Beta mode

TechFinancials a listed fintech software provider of financial solutions including blockchain-based digital assets and traditional financial trading solutions for retail clients, is pleased to announce that the CEDEX blockchain diamond exchange, CEDEX, has gone live in Beta mode, allowing investors to trade diamonds as a financial asset class. TechFinancials has a 2 percent interest and an option to acquire a further 90 per cent of Cedex Holdings Ltd, the holding company for the CEDEX blockchain-based online exchange for diamonds which would give TechFinancials up to 92 % of CEDEX or 87.4 % on a fully diluted basis.

TechFinancials has played a major role in the launch of CEDEX as the main provider of the infrastructure, blockchain and smart contract development on which the CEDEX platform is built.

 

CEDEX allows investors to securely and easily trade in digitized diamonds (DDC – Digital Diamond Certificate), while enabling diamond holders to liquidate their assets. Using the innovative DEX proprietary algorithm and blockchain technology, CEDEX has overcome the three main obstacles that have prevented diamonds from becoming a tradable asset class: lack of transparency, liquidity and standardization.

In order to overcome these obstacles, CEDEX has focused on the following activities over the past six months:

  • Developing the proprietary DEX algorithm and building the diamond commodity exchange in conjunction with TechFinancials;
  • Establishing business relations with diamond dealers in order for them to supply the initial diamond inventory on the CEDEX platform, which will comprise over 2000 diamonds in specific categories, at the time of the launch;
  • Constructing the complex logistic business solution to support the product launch, including setting up business relations with custodians, GIA (Gemological Institute of America) and shipping partners;
  • Obtaining the legal approvals to offer the phase one product worldwide.

Asaf Lahav, Chief Executive Officer of TechFinancials commented: “We are delighted to have played a pivotal part in the launch of the first blockchain-based diamond exchange in the world. This milestone achievement is testament to the innovative capabilities of both CEDEX and TechFinancials to build a new, ground breaking platform and we look forward to updating the market on its progress in due course.”

Saar Levi, Chief Executive Officer of CEDEX stated: “This is a major step forward in our exciting journey to transform diamonds into an asset class. At CEDEX, we are commited to realizing our long term vision in which both institutional and individual investors will be able to trade diamonds as one of the leading commodities.”

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.