Author: CoinSpectator

Tether Creates New Ethereum Based Tokens Despite Controversies

Following the events of January 2018 between Tether, and audit firm Friedman LLP, concerns around Tether’s USDT token continues to be on the increase. This is ruining the trust of users as chances to prove that USDT is backed by real dollars, and show that the company is running a legal operation continues to be on the decline. This situation doesn’t seem to be getting any better.

Following user speculations that Tether is pumping the market through artificial manipulations, it is believed that Tether is not just creating USDT without real dollar backing.

In order to understand the controversies surrounding tether, it might help to understand what tether is.

What is Tether?

Created in 2015 with the brand name “Realcoin”, Tether is supposedly backed on a one-to-one ratio with the US dollar and EURO. This means that for every USDT or EURT, the company claims to keep one USD and one EURT respectively. According to Icotokennews.com, Realcoin is just one of many hundreds of cryptocurrencies being released in the latest cryptocurrency fad.

Tether was created with the intention of being a stable coin, with its value pegged to the USD, thereby preventing it from having volatility like other crypto coins. It was meant to be used as a means to enter or exit onto exchanges (a way to keep stable digital assets without the stress of converting cryptocurrency into fiat currency).

However, over the past couple of months, there’s been growing concerns that Tether might not be backed on a one to one ratio by the USD as claimed by the company. The company, however, insists this is mere speculation, claiming their audit is in order.

Release of Freshly Minted Tokens

Despite these controversies, and without clarifying the current issues, the company has released new tokens which are pegged to the US dollar and the Euro. These newly minted tokens are stored up in two Ethereum wallets. The plan is to use this to significantly increase trading services on the Ethfinix trading platform.

If this is to be compared to the USDT and EURT currency supply, the amount of freshly minted tokens appear to be much less with around 86.3 million Euro pegged EURT and 60.1 million dollar pegged USDT as it appears on the Ethereum block.

It is not clear at the moment how much new tokens the company is planning to mint, as sufficient information regarding that is not yet available. How the Ethfinix exchange plans on introducing these freshly minted tokens, and the trading pair which they intend on using is not yet clear. The tokens are even yet to be listed on coinmarketcap.com. Currently, the only thing investors have is the brand’s promise to introduce ERC20 Tether tokens, which has been promised would be traded on Ethfinix.

The announcement in part noted that: “Tether have now collaborated with Ethfinex on the development of the first Ethereum-based Tether, compatible with the ERC20 standard. The ERC20 Tether allows for tokenized USD to be exchanged on the Ethereum network, enabling interoperability with Ethereum-based protocols and DApps whilst allowing users to transact with fiat currencies across the Ethereum Network.”

Against the backdrop of the current bullish trend in the market, market analysts predict that the freshly minted tokens might receive an enthusiastic acceptance from hopeful investors. Although with the trading limitations existing on the Ethfinix platform, the exchange might not be considering activating the new tokens anytime soon.

However, it can be seen that Ether is having a notable influence on the market with about 2.2 billion USDT in circulation. There’s currently an increased demand for ether in the trading market, with more than $3 billion traded in Tether volumes recently. Tether is presently second only to Bitcoin if trading volume is to be considered, with Bitcoin trading to about $8 billion.

Meanwhile, another outside observer is warning about the potential dangers that tether poses to the smooth operation of exchanges. Weiss Ratings, an independent U.S based agency, which publishes letter grades for crytocurrency brands, in an attempt to enlighten investors on the risks of tether, issued an alert highlighting common fears about USDT; a cryptocurrency which claims to be covered by the U.S dollar reserves.

As Weiss analyst, Juan M. Villaverde noted, “The big issue: There’s never been an audit, and the folks behind Tether have been quite shady when asked. They have continuously claimed their tokens are backed 100% by actual dollars, yet they have failed to present any evidence to support this claim.

“On social media, there appears to be consensus that what Tether is actually doing is running a fractional reserve system. In other words, most observers claim they DO NOT have the dollars to back up all those Tether coins. I tend to agree. It’s just too suspicious.”

Weiss goes further to explain the importance of USDT to the ecosystem of cryptocurrency exchanges such as Binance, which uses the coin as a digital version for real dollars in trading. This makes the coin among the most traded cryptocurrencies, and the only digital money to exceed its market cap on a near regular basis.

It is only natural for these exchanges to be dependent on Tether to provide liquidity, and this as well puts investors at risk should the government decide to stop its printing. This has a high likelihood of happening under the U.S law.

Providing further analysis, Juan said, “The consequences of hanky-panky could be far-reaching. What happens if Tether does turn out to be fraudulent? Or what happens if a major government determines that cryptocurrencies like Tether are being used by exchanges to avoid regulations?

“What if this large source of liquidity suddenly evaporates? Conceivably, it could cause exchange failures. It could drive investors to liquidate their positions, causing sharp declines in market prices.”

Tether last month announced that they had plans to abandon the Bitcoin core and adopt Ethereum based tokens following the hack which happened last year. This could be the possible explanation as regards their bold move to issuing Ethereum-based tokens despite unresolved controversies.

MoxyOne: Cryptocurrency Payments at the Swipe of a Card!

Australia based MoxyOne is a startup which is all set to solve the biggest problem of cryptocurrencies – a proper payments infrastructure. While an increasing number of merchants are accepting cryptocurrency payments, the number is still too low. MoxyOne intends to change the way we know cryptocurrency payments to be. MoxyOne plans to build a platform where cryptocurrency payments can easily be made, just like how one would make fiat payments.

`Cryptocurrencies have been around for less than a decade. While they have been seen as a viable investment option, their use as a payments token is yet to realize its full potential. The biggest reason for this is that there’s no proper payments infrastructure. MoxyOne’s technologies will help build that payments infrastructure that will allow users to pay in cryptocurrencies just like how they make fiat payments using Debit Cards.

Payments made on the MoxyOne platform will be powered by the SPEND cryptocurrency tokens, which are native to the platform. MoxyOne also plans on bringing forward a number of other features and services. Let us take a closer look:

Understanding MoxyOne’s Plans:

MoxyOne’s platform offers the following features and services you can look out to:

  • Debit Card: The primary offering from the MoxyOne platform is that of a debit card which can be used at retail stores similar to a regular Debit Card which is used for fiat payments. Basically, upon swiping it at the store, this card makes use of your cryptocurrencies – converts them into fiat and pays them to the seller.
  • SPEND Tokens: For those wondering how the MoxyOne Debit Card pays the merchant in fiat currency while using your cryptocurrency balance – it is powered by SPEND tokens. SPEND tokens are native to the MoxyOne platform. Basically, the cryptocurrencies that you pay are first converted into SPEND tokens – which are then sent to the merchant. These SPEND tokens then get converted into fiat currencies and are paid out to the merchant.
  • Instant Fiat Conversion: Another feature of the MoxyOne Debit Cards is that they can be easily used at ATM machines to withdraw cash!
  • MoxyOne Wallet: The MoxyOne platform also offers the users with a wallet where they store their cryptocurrencies. It is from this wallet that the currencies can be fetched and transacted. It is a multi-token wallet which supports multiple cryptocurrencies to be stored.
  • MoxyAI: The MoxyAI feature is basically an AI system built into the wallet which judges which is the best cryptocurrency to use for a transaction. It compares the prices of all cryptocurrencies stored into your wallet – and then judges which of them has the highest price. This means that you spend the least in cryptocurrencies and get the most in fiat value!

MoxyOne Token Sale and ICO: 

The MoxyOne token sale will allow users to invest into the platform and get SPEND tokens. However, before you invest into the platform, you will need to go through a KYC procedure and provide some private details. MoxyOne has set a goal of a minimum of 4,000 ETH tokens – if they fail to reach that level, the money will be refunded. Users who participate in the ICO would get a referral link which can be used to earn some extra coins if their friends sign up and participate using the link. For more details, visit https://moxy.one.

BitCar model allows users the ability to trade their way to full car ownership

Singapore 5 March 2018 – Blockchain company BitCar.io has announced a gear change in its business model, giving BITCAR token holders the chance to trade their way to full ownership of the platform’s top-end exotic vehicles.

Similar to some other cryptocurrencies, BitCar uses a dual token system, meaning people can buy BITCAR tokens and then use this to acquire CAR tokens representing individual exotic cars on the BitCar platform.

The BitCar platform is designed to allow CAR token holders to peer-to-peer trade their tokens with others at any time, which BitCar hopes will grow into a large live marketplace over time.

The ‘trade your way to a whole exotic’ model development has been introduced due to strong user feedback – where numerous users said they would love the ability to eventually wholly own an exotic car.

“When a new platform car is on-boarded, its CAR tokens will each be pegged to one US dollar, fractionalising the title of the car into the CAR Blockchain currency. Each vehicle will have its own unique ‘CAR’ tokens assigned to it, which can be traded,” said BitCar Executive Charles Kilborn.

CAR token holders will have access to several third party indexes, spot prices and future value estimates, along with other valuable data such as a ‘leaderboard’ of token holders and so can make their trading decisions based on their view of this data.

“Buyers in the BitCar marketplace, who over time want to own one of these exotics outright – can seek to acquire more tokens in it, by making offers to existing CAR token holders,” said Mr Kilborn.

CAR token prices are designed to be much less volatile than other cryptocurrencies, and so holders should benefit during times of crypto volatility to benefit from their greater stability compared to other cryptocurrencies.

They can also trade tokens with peers. But fundamentally, in a world first, BitCar will allow those that want to own CAR tokens to gain exposure to exotics that appreciate over time.

“The platform is designed so that users can automate trading criteria, shift between different CAR tokens, auto bid, or opt to accept transactions per their set criteria,” said Mr Kilborn.

Every five years, the ownership of the car will be examined. CAR token holders who own all or a majority of the tokens of a vehicle can take possession of the vehicle (drag-along provisions will apply), which burns the CAR specific tokens. Alternatively they could chose to put their CAR tokens back onto the platform.

The BitCar token sale is currently in round three of its ICO and has raised over SGD 9 million already.

For more information go to www.bitcar.io

Company Contact :

Sheree Ip

[email protected]

Media Contact:

Heidi Cuthbert

[email protected]

World’s First Hybrid Investment Platform, PHI Token, raises £4.7M in first two days of pre-ICO sale

PHI Token, a blockchain project from DIAMAN Capital LTD, has attracted substantial interest from investors during the recent launch of its’ pre-ICO crowd-funding campaign, achieving over $4.7M in its’ firstf orty-eight hours.

PHI Token is the world’s first Robot / Human Asset Management Platform on the Blockchain and is set to disrupt a $90 Trillion dollar market-place. The PHI Token itself, symobolizes the golden-ratio and combines traditional finance with the Crypto world to form a new, higher-return and longer-term investment proposition.

Malta, 6th March, 2018

DIAMAN CAPITAL LTD is pleased to announce their recently launched ICO Token sale has received an excellent response during its’ pre-ICO stage, with initial fund-raising activity due to end on March 21st 2018. With its’ Italian holding company having sixteen years of successful track record in quantitative financial advisory, Diaman Capital launches PHI – the first ever platform for hybrid investment which allows investments in all asset classes and vehicles including crypto assets. In its fully functional form, PHI will provide an entirely digitized platform to eliminate the all critical problems that have crippled the wealth management industry for years.

The Token sale for PHI Tokens starts on 3rd March 2018, with the Pre-ICO, having a limited supply of 3,524,578 Tokens, which can be purchased with a 21% discount at a price of $1.27 per token via the PHI Token website. The ICO istself starts on 8th March 2018 with a restricted supply of 7,881,196 utiity tokens available for a limited time only, and valued at a price of $1.61 USD.

PHI Token holders will benefit from using the PHI utility token within the components of the hybrid investment platform, as well as receiving 30% cash-back on financial software purchases together with great potential for increased value due to the companies annualised “buy back and burn” commitment.

The global wealth management industry has managed to prosper in the past primarily because of the high returns generated from the twenty-year bond rallies and the poor financial knowledge of customers. However, with the bond returns holding a zero or even negative value and the stock market carrying a positive growth rate for nearly a decade, the future of this financial market does not hold much promise for the investors.  Making things worse, there is a tremendous pressure created by the Robo Advisors gaining market share, especially in the United States. In this scenario, there is an imminent need for the industry to address three critical shortcomings;

  • High costs because of the outdated and labour intensive operating models
  • Limited access to multiple investment opportunities
  • Sale of captive products without real competition between asset managers

DIAMAN Capital LTD proposes to solve the existing problems by combining digitization of processes, de-centralization and sharing together with innovation and competition. Firstly, it will lower the costs of providing investment services by reducing the commercial supply chains via digitization. Moreover, it will create an opportunity for the investors to benefit from multiple investment vehicles, including the crypto assets. Finally, it will ensure better results for the customers by stimulating competition between the asset and wealth managers.

In order to finance the project and share it’s success with the global crypto community, DIAMAN Capital has recently issued the PHI Token. These tokens will have three main preparatory features to increase its’ value over time.

  • PHI Tokens as Stake: Anyone looking to use the components of the platform must own and immobilize the PHI Tokens
  • PHI Tokens as Payment: The hybrid investment platform and the developed financial software will accept payments in PHI Tokens, offering 30% cash-back
  • PHI Tokens Buy Back and Burn rewards: 15% of the performance fees generated by the platform and 50% of the annual tax refund (caculated from the payment of taxes in Malta) will be used to purchase PHI Tokens on the exchanges to create a scarcity effect.

Daniele Bernadi, CEO commented that, “The PHI Token is the natural result of a project that my company has been working on since 2013. After the crisis for the government bond, we needed a few years to define the detail of the project. Now, we are ready to disrupt the industry with a market-place that we have named the, Platform for Hybrid Investments. The name PHI is perfect for the meaning as it represents, the golden-ratio, that exists in past, present and future, this golden ratio is found in us, in nature and also in the universe so is perfect to name the Token.”

To find out more about PHI Token, join the official Telegram community or visit https://www.phitoken.io/

About PHI: PHI is the brainchild of DIAMAN Captal LTD, with its’ Italian holding company having sixteen years of successful track record in quantitative financial advisory, and is the first ever platform for hybrid investment on the blockchain.

PR Contact:

Gary Collins

Website: www.tokenads.net

Email:   [email protected]

XYO Network: Blockchain is changing how location data is verified

Meet XYO Network the first decentralized cryptographic-location network built for the world of tomorrow

xyo network logoFor obvious reasons, many experts believe that the blockchain will be a key element in the future of the technology industry.

It allows for information to be shared and verified in a way that was never seen before its inception back in 2009. Transparency and accuracy is at the core of everything blockchain stands for, thus XYO Network is making waves among the industry as a blockchain platform which determines and verifies location data. The key components of the chain are encouraged via its token, the XYO.

XYO Network

Location data has become more and more important in recent times, as all industries become more reliant on the internet of things. The importance of this data being accurate is only going to rise too, with drones, internet shipping and automated-vehicles needing it for their day-to-day functionality.

Trusting this data is essential, but thus far there has been no perfect solution to ensuring that you can. XYO are changing that with a layered location confirmation service, which will work with different smart contract protocols and device classes.

XYO is co-founded by Arie Trouw, Markus Levin and Scott Scheper with advisory roles filled by Tom Kysar who leads operations at Augur and Raul Jordan leading the Ethereum Geth Sharding effort alongside Azam Shaghaghi and David Kim both blockchains experts.

The Network

This works with four key blockchain elements – each element is a key component to XYO and their ecosystem.

  • Sentinels – These compile location speculations and bonds Proof of Origin to the nodes above them.
  • Bridges – Gather data from the sentinels. Then attaches this data to their string, which in turn becomes available to Archivists.
  • Archivists – Stores catalogs from bridges.
  • Diviners – Collate info and verifies the location.

XY, the company behind XYO, has built one of the largest networks of Bluetooth and GPS beacons in the world.

XTO Token ICO

Those above elements are encouraged using an Ethereum-based token, entitled the XYO token.

Presale – 100 billion tokens with a hard cap of $15 million.

How does it work?

In layman’s terms the XYO network makes it possible for smart contracts to access data in the real world to determine where a specific object is.

For example a clothing company could let their customers pay on delivery to ensure the product reaches the customer safely, this would be accurately tracked by the XYO Network which would be able to track when it reaches them by utilising the largest networks of Bluetooth and GPS beacons they firm has been developing in recent years. This would all be locked into a smart contract on the blockchain preventing fraud for both parties.

This is a wide scale problem in the delivery industry with packages becoming lost in transit or stolen from customer properties.

This is just scratching the surface of what the technology aims to revolutionise, you can find out more on their website here: https://xyo.network/

 

Essentia is changing how online data works

Essentia is the framework for decentralized data management based on Essences.

Data is money these days and there are many companies trying to get ahead of the curve with how they collect, sell and buy this information. Most of this data is taken off you and I for free and then sold for bundles of cash so big they’d make even the most successful Bitcoin investor blush.

Not only that, data from companies and individuals is being shared freely without their understanding of what is happening too.

A new group are trying to remove this process, by creating an open-source mechanism that will give businesses and individual users control over the data their web use creates. Blockchain technology is at the heart of this idea, which is headed by Micro Mongiardino and is called Essentia.

Essentia, a company which is based in the Netherlands, plans on giving users and company’s ownership and control over the data they create. The data they create will be stored in a wallet and can be transferred to interested parties via exchanges.

To summate, Essentia gives a single secure digital ID which is multi-platform friendly and offers the ability to own and control data with no censorship rights. Transactions can take place on the Essentia marketplace by the use of ESS tokens, which can then be exchanged for other cryptocurrencies.

Here are some of its key features;

  • Security – It is considered safe and secure as Essentia doesn’t allow the use of insecure passwords.
  • Exchange – Essentia ESS tokens can be exchanged for Ethereum and other cryptocurrencies. These are the tokens that power this unit.
  • Storage – Essentia gives users the option to store on decentralized dApps and other crypto’s like Storj, Swarm and IPFS.
  • Identity – You are in control. Individuals and companies can stay as anonymous as they deem fit.
  • Wallet – Essentia also acts as a safe and secure eWallet with cold storage.

essentia

ESS tokens
These tokens will be used for all transactions on the ecosystem and can be exchanged for other cryptocurrencies.

The planned exchange rate is set at 8000 ESS to 1 ETH with a hard cap of $32 million.

Essentia has already secured a wide range of industry partners including Flyp.me, Bitcoin Association Switzerland, ETHDENVER

Advisors include Erik van der Staak, Thomas Graham, Yann Marston, Francesco Fusetti.

Essentia has a range of projects and dApps already integrated into their technology some of these included Gnosis, Ethereum, Status, Mysterium, EtherDelta, IPFS, Storj, Aragon, Bitcoin and Flyp.Me

1 ETH investment into Essentia (ESS) tokens will provide 15,000 tokens, the hard caps is set at $31,000,000

You can join the Essentia whitelist here: https://essentia.one/

ZeroEdge.Bet Casino launched its Pre-ICO and offers 79% discount for a very limited time!

ZeroEdge.Bet Casino launched its Pre-ICO and offers 79% discount for a very limited time!           

A unique blockchain based gambling platform ZeroEdge.Bet launched their Pre-ICO. The presale event will last until March 15th, 2018 or until the hard cap is reached which is set at only 1500 ETH. During the presale, investors will be able to purchase ZERO tokens with a 79% discount for a very limited time.

ZERO token owners will be able to use it on the ZeroEdge.Bet platform to play 0% house edge games such as Blackjack, Video Poker and many others. ZERO token will also be used to place bets on the platform’s decentralized sports betting exchange which is expected to be launched in Q4,2018. Project’s development roadmap also includes a poker room and an open-source platform for building and operating your own customized games for which ZERO tokens will be required.

One thing that really makes ZeroEdge.Bet stand out from other gambling related ICO’s is their team which has a strong background in the gambling/gaming industries. To supplement the team and make ZeroEdge.Bet a huge success, the advisory board consists of numerous well-known & accomplished professionals with an extensive knowledge and experience in their respective fields.

“We can see why other blockchain-based gambling project haven’t really penetrated the market, so we want to come in well-prepared to be among the first to do this. We believe the experienced team and accomplished advisors are the key here,” said Adrian Casey, CEO of ZeroEdge.Bet.

“Zero Edge offers a unique gambling model which potentially could revolutionise the $70 Billion gambling industry. Players won’t be losing money, but instead earning from the increasing Zerocoin value. Our ultimate goal is to become a leading gambling platform in the online gambling industry where thousands of different games are played each day using Zerocoin and where players have the best chance of winning,” – added Adrian.

TOKEN SALE DETAILS

During the presale, contributions will only be accepted in ETH (ether). Minimum contributions for the campaign will be 0.1 ETH with no maximum purchase amount.  A discount of 58% will be applied to reward early backers. Although, a very limited amount of tokens is issued for the pre-ico. A total of 777,000,000 ZERO tokens will offered for the public during pre-sale and main sale events which accounts for 60% of the total supply of tokens. The main ICO is scheduled to start on April 15th, 2018. Bonuses will start at 20% and stagger down to 15% and 10% for later contributions, incentivizing early ZERO supporters to invest earlier in the ICO. The main tokensale hardcap is set at 30,000 ETH.

To find out more about ZeroEdge.Bet project and their pre-ico, head to ZeroEdge.Bet official website and join their social media channels to get actively involved in making the gambling industry a better place for everyone.

Https://tokensale.zeroedge.bet/

Meet CEDEX the world’s first certified blockchain based Diamond Exchange

cedexMore than eighty percent of the worlds rough diamonds are traded within a single square mile known as the Antwerp diamond district. This network alone turns over 54 billion dollars a year through four main trading exchanges catering brokers, cutters, dealers, polishers and everything in between.

With that in mind It’s no surprise that the diamond industry has often been criticized for being centralised, outdated and unwelcoming to regular investors. All that however could soon change thanks to CEDEX, a blockchain based diamond exchange that will transform diamonds into a publicly tradable asset open to everyone through their certified diamond exchange.

In short the end goal of CEDEX is to bridge the gap between the traditional diamond industry and the more innovative financial markets.

The startup is tapping into a growing sector of the Blockchain industry called “tokenization” by transforming physical diamonds into digital assets that can be transparently represented on the Ethereum Blockchain. In doing so these assets are not only made more verifiable to sellers and buyers but more liquid opening them up to a wider global market where anyone can trade the quickly and easily through the CEDEX exchange.

One of the main benefits being of tokenization is fraud prevention. CEDEX aims to tackle this with a Diamond-Smart Contract representing a diamond’s ownership, gem composite and historical trading information which can be publically verified by anyone on the blockchain.

Fungibility across the Diamond industry is another key area which the startup aims to tackle due to the problems of valuing gemstones. Gold and Silver for example are much more fungible as one gram is equal to any other gram whereas Diamonds tend to lack a trustworthy metric that can be determined to value a given stone. CEDEX hopes to solve this problem by applying the DEX algorithm and creating a smart-contract that represents a geologically validated asset and fungibility mechanism that is created from the GIA ID, register wallet, historical transactions etc.

“Powered by revolutionary pricing deduction algorithm, CEDEX promises to unlock the trade currently limited to few and enable mass adoption to the public. At first stage, CEDEX focus on the crypto community as it recognised it’s ability to fasten the long desired change” said CEDEX

The CEDEX four pillars

The DEX:

A proprietary algorithm that evaluates and rates the Diamond-Smart Contract market price, allowing “non-experts” to confidently trade in diamonds.

Diamond Tokenization:

A Diamond-Smart Contract representing a diamond’s ownership, gem composite and historical trading information.

Blockchain-Based Exchange:

A trading platform uniting Diamond-Smart Contract owners and traders.

The CEDEX Coin:

A new cryptocurrency allowing traders and cryptocurrency holders to buy diamonds on the CEDEX.com exchange.

How does CEDEX help sellers?

The CEDEX platform opens up the selling opportunities of gemstones to a global market by simplifying the process through a decentralized exchange, the process starts with the seller uploading the GIA certificate of the stone, this is then automatically analysed to create an accurate price.

Once the gemstone is listed on the exchange any potential buyers enter into a smart contract agreement with the seller. This allows an automated transaction to occur which prevents fraud by either party.

The CEDEX platform utilizes the exchanges native coin called CEDEX coin which is used to perform transactions on the platform such as buying, selling, insuring and transporting the asset.

Anyone looking to invest in CEDEX ICO can purchase CEDEX tokens at the upcoming token sale – March 16th 2018

Website: https://cedex.com/

Eligma, an AI-driven blockchain platform that is about to change the online shopping experience

eligma ico logoEligma, a cognitive commerce platform, will be connecting existing e-commerces and second-hand marketplaces into a one-point-stop for users. By harnessing AI and blockchain technology, Eligma is changing the way users discover, purchase, track and resell items online. To provide a new simplified user experience, a Slovenian-based company is set to launch its crowd sale on April 17 with a hard cap of $24 million.

Eligma was born as a response to problems identified in traditional retail and especially e-commerce, which has exploded in the recent decade. The project is entering a market, in which sales reached 2.3 trillion U.S. dollars in 2017. It aims to offer a set of previously unanticipated solutions to discover, purchase, track and resell items. This is now viable due to the development of artificial intelligence and blockchain technology.

“The value of Eligma is in its ability to give people the one thing they can never buy – time. It keeps track of our purchases and gives us a better overview of what we possess. It calculates the value of what we own and predicts when it`s the best time for us to sell. That is how Eligma is turning every household into a business,” explains CEO and founder, Dejan Roljič.

Eligma’s goal is to offer a comprehensive set of solutions, consisting of discovery, inventory and loyalty pillars. Using artificial intelligence, Eligma`s engine algorithm will process millions of data points from numerous online stores to compare product specifications and characteristics in order to find the product with the exact specifications users are looking for.

To save additional time and hustle, Eligma will introduce a unified shopping account, meaning that a single shopping cart and checkout process will suffice to complete purchases in multiple online stores at once, whereas the platform`s cryptocurrency payment gateway will enable users to pay with cryptocurrencies even if the online stores don’t support them yet.

With the inventory feature, users will be able to see the AI-predicted current and future item value and then decide when to sell those items. That is how every household will become a business. Eligma will offer various possibilities of using its ELI token for activities performed on the platform. Users will be rewarded for using the token through a universal loyalty system. It will consolidate merchants in an integrated open-loop universal loyalty system and provide a simple and convenient user interface. There will be no need to register with a standalone loyalty program of each merchant.

The idea of solving the problem of the abundance of products found online has brought together some of the most prominent entrepreneurs:

“We are partnering with important individuals and organizations to have access to an array of knowledge, expertise and experience in commerce and technology. Amongst the advisers are Andy Baynes from Nest-Google-Alphabet and Peter Moricz from ChainX, both promising a global reach and impeccable delivery,” adds Dejan Roljič. The Eligma company was founded in 2017 by three experienced Slovenian businessmen – Dejan

Roljič, founder of ABC Accelerator, Matej Gregorčič, founder and CEO of Viberate, and Jože Mermal, CEO and chairman of BTC d.d. The development process of the platform is additionally reinforced with strategic partners, such as Spartan Solutions and Netis, both leading cryptocurrency and blockchain development companies in Europe.

To develop a technological solution for resolving the drawbacks of commerce and e-commerce and simplify the shopping experience, Eligma is raising funds through a public crowdsale, starting on April 17th. Early contributors will be able to join the presale of the ELI token, starting on March 20th. To learn more about the AI-driven blockchain platform that is about to transform online shopping experience, visit www.eligma.io.

Contact

For more information about Eligma and its development process, please contact Sara Draskovic at [email protected].

‘North Korea may have up to $210m worth of Bitcoin’ – International expert

North Korea is renowned for many, many things, but until now, cryptocurrency investment wasn’t one of them.

However, that might be all about to change as an international expert has said that the country has made an absolute mint from Bitcoin recently.

Former US National Security Agency officer, Priscilla Moriuchi, told reporters that the politically isolated country took in more than $200 million in digital cryptocurrency transactions in 2017.

Ms Moriuchi, made this claim during an in-depth interview with Radio Free Asia. She also discussed the subject with Vox.com, where she stated that she has reason to believe that these coins are being liquidated and the resulting cash is being used to support North Korea’s military.

She said: “I would bet that these coins are being turned into something – currency or physical goods – that are supporting North Korea’s nuclear and ballistic missile programme.”

She estimated that the regime took in 11,000 Bitcoins in 2017, which would have been worth around $210 million at the currency’s peak value.

This revelation comes after unconfirmed reports of a state-sponsored hacking regime, which is focusing on cryprocurrencies.

According to a report of the incident on the Daily Telegraph, North Korea’s government continuously deny any criminal doings but the evidence points towards genuine activity from Pyongyang.

The report read: “Pyongyang consistently denies all hacking allegations. However, cyber security experts and defectors have claimed that promising students are handpicked from prestigious universities to join Bureau 121, the hermit kingdom’s shadowy cyberwarfare agency.”

Many believe North Korea is attracted to cryptocurrency because of its lack of traceability and loose regulations.