Initial Coin Offerings: Opporty ICO – A Crypto-enabled Business Platform Marketplace

Opporty ICO presents a business platform marketplace, which is crypto-enabled, that enables buying and selling via smart contracts and lead-generation method that is block-chain powered.

Technology has altered how we interact and do things in the 21st century. For example, rather than finding a firm in the Yellow Pages, you can get it on the Internet. You can email your buddy instead of jotting down a letter.

Similar kinds of variations are also taking place with agreements and contracts, with the start of digital smart contracts. Smart contracts have been created to substitute conventional hand-written agreements that mainly experience court trials making firms waste a lot of cash and time.

Technological achievements have of late made contractual agreements easy, making them final and protected against lawsuits. Powerful smart contracts shield contracting parties from a lawsuit and make sure that agreements are implemented depending on the original terms.

Why Smart Contracts are Necessary for Us

In technical terms, smart contracts are neither contracts nor smart. A smart contract is a section of programming code consisting of precise lines with ‘if-then’ terms. Courts are unable to dispute statements like these because they have clear and accurate date.

Vague Smart Contracts as an answer with more flexibility

Weak smart contracts are available which a court can modify. They offer less immutability. They provide extra flexibility and are effectual for contracting parties with problems, forming specific conditions for agreements. A smart contract that is weak can be disputed and altered by Escrow partners or a court. However, it is not possible to change a smart contract at all.

Using Smart Contracts in Business

Absolute and fixed solutions are more effective in a scenario where parties are not able to trust one another as they sign a contract that is impossible to terminate or suspend.

After being set up and implemented, the parties to a smart contract should play their role and present what was agreed on. At Opporty, smart contracts are used to make sure that the two parties are given interactions that are fair and safe.

Opporty is a lead generation platform which is service-oriented that allows service provides to give their services to clients. It is important in a scenario like this to examine and verify all states of a contract and facilitate mutual satisfaction with the results.

Where business misconduct is concerned, Opporty offers decentralized Escrow support. Judges for Escrow work as agreement advisors who go through smart contracts and recognize any statements that were not adhered to.

For instance, Sarah offers accounting services to a group of teachers. The teachers asked for the audit of the accounts that Sarah carried out. Sarah has carried out the audit but has made serious errors. The teachers seek help from Escrow judges who then assess the results of the agreement and service to verify claims from the teachers.

Conclusion

Agreements that are handwritten shall persist in being eliminated in the business world. A lot of firms might prefer using traditional agreements; however, firms that are established do not mind adapting new solutions, which take the place of methods that, are obsolete and ineffectual techniques of signing agreements.

In this regard, electronic signatures were the initial development; but they are outsmarted by smart contracts.

Smart contracts are referred to as blockchain ‘killer apps.’ Even though a lot of controversies exist concerning their legal power, some US states declared smart contracts to be equivalent to any other kind of contract.

Smart contracts make it easy for two parties to work together, who do not trust one another. This is a prevalent issue for service marketplaces such as Opporty.

Opporty utilizes Ethereum blockchain powerful smart contracts to shield its users from criminal acts and lawsuits.

Decentralized Escrow judges assess claims and make sure that the two service providers and clients experience interactions that are fair and secure on its platform.

Regulation in India: Bitcoin Regulation Is Essential for Legitimacy in India

A popular economist from India believes that bitcoin regulation is essential so that it can turn into a legitimate currency in the state. Dr. S.P. Sharma Ph.D, Chamber of Commerce and Industry chief economist, spoke to the Economic Times (Indian business daily) and wondered how possible it was for bitcoin to turn into a regular legal currency without regulation and supervision.

India’s economy is developing fast and India is fast adapting digital payments as a section of a cashless venture initiated by the central state. This started the previous year with the exceptional cash prohibition. There is a noticeable development of the local bitcoin industry within a general rise in knowledge and embracement of the cryptocurrency in the last few years, in spite of the absence of a ‘legal’ standing in the state.

But, it is evident that bitcoin is not unlawful either. ‘It is just to state that presently, the cryptocurrency is not unlawful nor lawful in India,’ said Dr. Sharma. He also said that ‘Unless there are correct and total regulation and supervision of cryptocurrency by a strong institution, I do not think bitcoin will turn into a legal Indian currency.’ Presently, authorities in India are making efforts to obtain a regulatory and lawful future for cryptocurrencies. At the beginning of this year, the Ministry of Finance in India confirmed the creation of a ‘virtual currency committee,’ whose role is to recommend a structure for bitcoin as well as different digital currencies.

The committee meets representatives from numerous state ministries such as the state’s taxation authority together with the ones from the central bank.

Below is the work of the committee:

  • Assessing the current condition of Virtual Currencies in India and worldwide.
  • Checking the present worldwide regulatory and legal organizations leading Virtual Currencies.
  • Propose steps to deal with Virtual Currencies like these such as matters connected to consumer security, cash embezzlement, etc. and
  • Go through any other issue connected to Virtual Currencies that might be important.

The theoretical result will possibly see the regulation of the local bitcoin by Indian authorities with slim prospects of a prohibition. Regulation of the sector will also possibly correspond with bitcoin adopters taxation in the overall public.

What’s New In The World Of Cryptocurrency Regulation?

Somewhat tough month for Cryptocurrencies: Bitcoin is falling to around $3,500 and newer, stricter regulations are taking place, especially with Ukraine and Indonesia refusing to accept Bitcoin as a legal method of payment. This are shocking news since this year is also the same year that saw Ukraine ordering 150BTMS (Bitcoin ATMs for easier trading), and Ukraine being a great all-around contributor to Bitcoin itself. On the other hand, Thailand has been taking new approaches to the issue of ICOs, with its SEC (Securities and Exchange Commission) evaluating these.

It’s now time to see what exactly is going on.


CoinMama: Buy Bitcoins with Credit Card

Bitcoin Regulations in Ukraine

This news comes as a surprise, not only because of the ordered BTMs, but also because lawmakers in Ukraine had stated that they would evaluate ways to develop more permissive laws when it came to cryptocurrencies, especially considering how much of the world has changed because of the Bitcoin, Blockchain, and cryptocurrencies in general.

After all these expectations, the deputy chairman National Bank of Ukraine, Oleh Churiy, released a statement saying that they would not see Bitcoin as an actual form of currency because it has no central issuer, due to the absence of a government being the one issuing the currency. This statement meant they would not accept it as means of payment.


Regulations in Indonesia

Indonesia, on the other hand, deemed Bitcoin transactions illegal, according to its Service Provider of Payment System legislation. It even went as far as forbidding Bitcoin transactions in said law.

To this, the CEO of Bitcoin Indonesia, Oscar Dermawan, replied stating that it was a mistake on the country’s behalf, noting the benefits Bitcoin and Blockchain technologies have brought to the world and the economy, mentioning how even influent people like Bill Gates have shown their support for the cryptocurrency.

 


Bitcoin Regulations in Thailand

Meanwhile, The Security and Exchange Commission (SEC) of Thailand began looking for new ways to regulate and monitor the fundraising of new companies via ICOs (Initial Coin Offerings).

ICOs are a method used by newly developing firms, looking to invest or work in the crypto market, to raise funds by selling their cryptocurrencies for fiat currencies or other crypto coins. These new tokens are usually meant to be used on their services.

However, lack of regulations in ICOs has often lead to scams, leading to governments like China and Thailand to look for ways of preventing these cases.

However, Thailand isn’t looking to stop these operations. Instead, it’s looking for the means to create regulation criteria, to which new fundraising projects must adapt to be allowed. All because, while they recognise the dangers regarding unregulated ICOs, they also consider them to be a valuable option for new firms.

Since the SEC encourages access to funding for starting companies, they realise the potential Initial Coin Offerings have to fill these fundamental needs. They look to establish regulations based on a balance between safety and allowing for innovation in the fundraising environment and option diversity.

Overall, after the disappointment Bitcoin enthusiasts might have after seeing the news of Indonesia and Ukraine, it should come up as a lighter note learning that not every country sees cryptocurrencies as a temporal concept, and Thailand is a good example of this.

ICO Launched by Democratic Cryptocurrency Exchange Mandarin.Top

The Mandarin Exchange represents a different cryptocurrency exchange. Its aim is to decrease the risks posed by centralization and to also appreciate the benefits of traditional exchanges via the concept of shared administration.


Centralized Exchanges have disappointed the market

Centralized exchanges are either regulated or not; despite this, they usually have bad reputations where essential services are concerned, such as security, customer service, and dependability.

Response times for support becomes longer and user money can get lost in opportune ‘hacks.’


The Objectives of Mandarin

By using straightforward smart contracts as well as a voting method, Mandarin intends to deal with a number of crucial problems of exchanges:

• Avoid misuse of money by platform administrators.

• Regulatory interference in monetary transactions.

• Clear cold wallets with more safety levels like multi-sig

• Democratic choosing of other coin listings.

It also endeavors to support and enhance on features which users find most helpful on established exchanges like the capability of carrying out margin trading.


The Mandarin ICO

To start the exchange and improve it, Mandarin began a one-month crowdsale on 29 August 2017 to divide the firm assets into 1,000,000 MNT (Mandarin ERC20 tokens), shared between promoters, investors (via bounty programs) as well as the manufactures. In three weeks, the venture collected $1,000,000.

So as to greatly reduce early devaluation, just 5% is kept aside for campaigns. A similar percentage is offered to early investors as incentives. A huge percentage of the tokens (70) are going to be sold in the course of the ICO; 20% is going to be sealed in the exchange.

Other than sharing profits directly from the exchange, investors who are in possession of a minimum of 10 MNT become the exchange community members. This enables them to take part in the implementation of major resolutions on its administration.

These are inclusive of:

• Presentation of other currency pairs.

• Development of operational abilities.

• Enhancement of present capabilities (such as sustaining exchange money for liquidity).

• Polling on cold wallet money withdrawals (with a speculative 35% vote limit to initiate).

In addition, the leading investors (the ones in possession of 1% and more of total or 10,000 MNT) will reach an admin panel with increased data on current exchange rates, trading as well as platform load.


The Mandarin ICO tries to implement reasonable costing

The 700,000-sale price of MNT will be greatly altered depending on the total amount collected. An exact cost will be outlined after the ICO finalization on 29 September, or as an alternative, when an ETH hard cap of 70,000 is reached.
Exchange plans to start the exchange in October 2017 and to attract new users it does not impose any commission on all trades. Starting from January 2018, 0.05% commissions shall be implemented. After this, investors will get their initial weekly share of earnings in February 2018. In April, a last commission increase shall occur.

After the launch of the platform, 19 currency pairs will be present across 6 currencies (ETH, BTC, ZEC, DASH, XMR, LTC) as well as 3 national currencies (RUB, USD, CNY).

In 2018, the exchange also proposes a superior program, a trading app for debit cards and smartphones.

If you want to take part, go to the Mandarin website and study its whitepaper. Alternatively, follow them on Facebook, bitcointalk, Telegram or Twitter.

Pros and Cons of the Top 4 Best Cryptocurrency Exchange Platforms for 2017-2018

Cryptocurrency exchanges and platforms allow users from around the world to exchange their fiat dollars, such as USD, EUR, JPY, etc., for cryptocurrency tokens. Exchanges can also be used to trade one cryptocurrency for another.

The best cryptocurrency exchanges are able to bring a new level of innovation that the traditional financial system has not been able to achieve in decades.

This writeup will detail the top 4 best cryptocurrency exchanges and platforms. But before we dive into the advantages and disadvantages of each platform, let’s establish a set of criteria detailing what you should look for in a reliable, hassle-free cryptocurrency exchange.

What to Look for In Cryptocurrency Exchanges

Fees

Most token exchanges charge a service fee for converting fiat money and crypto tokens into other cryptocurrencies. Fees alone should not dictate which exchange you decide to use, but if you plan on moving large volumes of money back and forth between accounts, you definitely need to compare fees for each exchange.

Credit card fees tend be about 4%, while bank transfer fees are typically in the 1% to 1.5% range. Most exchanges tend to charge anywhere from 0.01% to 5% fees for deposits and withdrawals. This is a wide net, but just make sure to not sacrifice quality for a few extra dollars.

Limits

Most crypto exchanges do have a maximum limit for how much money can be deposited at any one time, as well as how much of a specific cryptocurrency you can purchase. If you plan on depositing and trading large amounts of tokens, you need to make sure the platform is able to support the amount you have in mind. Some platforms will also have limits to how much money any one user can withdraw in a single day. This can be a problem for people who deal in large amounts, as they will be forced to spread out their withdrawals over a period of days or weeks.

Quickness

When you’re trying to profit in a game of inches, it’s vital to utilize an exchange that delivers coins in a timely manner. With this said, exchanges cannot guarantee coins will be delivered in a specific time period due to the nature of tokens and their blockchains, wherein each transaction must be verified. When a blockchain is congested, you can expect the verification process to take longer (or shorter) than usual.

Aside from this, transactions can also take longer than usual due to the slow nature of the legacy banking system, depending on the withdrawal method. Buying cryptocurrencies with credit cards doesn’t take too long, while bank transfers can take several days. PayPal deposits and withdrawals can take anywhere from 30 minutes to several days to complete.

Privacy

Despite what you may have heard about cryptocurrencies and blockchains, digital tokens and their exchanges are not bulletproof. Hackers look for opportunities, and unscrupulous buyers and sellers will look to take advantage of certain payment methods. This is why it is critical to deposit your money into an exchange that takes your personal privacy and security seriously.

Consider the following: How much personal information is required to set up an account? Do you need to verify your address, identity, or phone number? While many people are put off by the idea of sending a cryptocurrency exchange their ID, the more layers of protection you have, the better. Secure exchanges will use two-factor authentication and may require some form of identity proof. This is enough to ward off most scammers and makes it harder for hackers to infiltrate individual user accounts.

Reputation

What are other users saying about the platform? Are reviews mixed, positive, or predominantly negative? Are hacks and identity theft a problem? Check if the exchange is regulated. While a non-regulated crypto exchange doesn’t necessarily mean it’s bad, having some form of government oversight is a clear bonus.

What is the exchange’s customer support like? Do they have a 24-hour live chat system, or do they only have email support tickets? Is there a telephone number you can dial to connect with a real person? Also consider the number of years the platform has been operational.


TOP 4 BEST CRYPTOCURRENCY EXCHANGES


1) KRAKEN


Jesse Powell Kraken.com
Jesse Powell Kraken.com

About Kraken

Kraken was established in 2011 in San Francisco by entrepreneur Jesse Powell, a well-known figure within the cryptocurrency world thanks to his security contributions to MtGox. In a way, Kraken is the successor to MtGox, the former exchange that went bankrupt. Kraken’s international exchange is highly popular within Europe, as they have the highest trading volume for the Bitcoin/Euro pair and have low fees for EUR users.

Unlike many other cryptocurrency platforms, Kraken accepts various fiat currencies, including: USD, CAD, JPY, and EUR. They currently offer 15 different cryptocurrencies to trade, including tokens such as Bitcoin, Ethereum, Dash, Zcash, Litecoin, and more. Kraken gives its users multiple trading tools, run on a highly secure environment with reliable cold storage, and offer advanced order types, such as buy limit and stop loss orders.


Kraken Pros

  • Up to 5x leverage on Bitcoin
  • Use 2-factor-authentication and PGP email encryption
  • Have a iOS and Android app for mobile devices
  • Moderate to high liquidity, specifically for EUR and JPY pairs
  • Support margin trading and short selling
  • Support custom order types
  • No limits on deposits
  • Low fees for European users
  • Quick and easy account setup, no ID required
  • Long standing crypto exchange trusted by hundreds of thousands of international crypto traders
  • Suitable for both beginners and professionals

Kraken Cons

  • Because of the high volume of traders using the platform, expect a few site errors every now and then
  • Could benefit from more crypto pairs
  • Customer support can occasionally get overwhelmed, leading to long response times
  • Complex fee structure, high fees for USD users moving small quantities of coin (i.e. $7 BTC withdrawal fee, $5 USD bank wire withdrawal fee, and $5 bank wire deposit fee)

Kraken Final Remarks

Overall, Kraken is a great crypto platform that offers several useful features to day traders. If you live in Europe, Kraken was probably your first and most enticing choice, and for good reason: The company is one of the oldest and largest exchanges, which has allowed them produce a long track record of happy traders without having to deal with any major issues, scandals, or negative publicity. In the end, if you’re a beginner based in Europe, go with Kraken.


2) BITTREX


Bittrex was one of the first to trade Bitcoin Cash
Bittrex was one of the first to trade Bitcoin Cash

About Bittrex

Bittrex is a regulated crypto exchange that is based in the United States and was formed in 2014 out of Las Vegas, Nevada. Bittrex caters to crypto traders, as they currently support the buying and selling of over 200 different tokens, and the platform is often one of the first exchanges to list new emerging cryptocurrencies.

To keep their customers secure, Bittrex performs compliance audits against new cryptocurrencies to ensure their traders make safe transactions with legitimate ventures. While some exchanges accept fiat currency, Bittrex uses Bitcoin as their cornerstone currency. They do not accept any type of fiat money.

Adjusting to the Bittrex platform can take some time to get used to, but the company is highly professional and offers speedy transactions and is a frequently used platform by seasoned crypto-investors.


Bittrex Pros

  • Anonymous function – no ID required for basic accounts
  • No minimum deposit
  • Utilizes 2-factor-authentication
  • Quick and simple account setup
  • Makes 1-minute price charts available
  • Perfect platform for those doing arbitrage
  • Flawless data connections – service interruptions are rare

Bittrex Cons

  • No app support
  • Only email and ticket customer support
  • Do not accept USD or any fiat currencies
  • No margin available
  • Low liquidity can be a problem from time to time
  • No dollar value assigned to cryptocurrencies
  • Advanced user interface (not beginner friendly)
  • High trading fees of 0.25%

Bittrex Final Remarks

Although Bittrex does not currently enable leverage, the company has stated that they expect to implement a leverage functionality later this year or in the beginning of 2018. The maximum withdrawal amount allowed for users with basic accounts is 1 BTC, while enhanced account holders who have been verified can withdraw up to $50,000 at any one time.

Overall, Bittrex is a great cryptocurrency exchange for seasoned arbitrageurs, but isn’t the most ideal option for professional daytraders due to the limited amount of immediate liquidity and the inability to trade with margin. But, as Bittrex has witnessed a staggering rise in new accounts in 2017, the platform’s liquidity woes may soon come to an end.


3) COINBASE


Coinbase – Instant purchases from verified cards
Coinbase – Instant purchases from verified cards

About Coinbase

Coinbase is arguably the most popular cryptocurrency exchange in the United States. Coinbase was launched in 2012 and, after financial backing from major banks and venture capital firms, set the standard for cryptocurrency exchanges around the globe.

Coinbase is a P2P platform that supports the buying and selling of Bitcoin, Etherum, and Litecoin tokens. Coinbase also has an Android and iOS wallet app. They have over 8 million users from over 30 countries and have housed over $6 billion in cryptocurrency transactions.

A few major companies who have invested in Coinbase include the likes of the Bank of Tokyo, the New York Stock Exchange, Andressen Horrowitz, and more.

Customers from the United States, Canada, Europe, the United Kingdom, Australia, and Singapore are able to buy crypto tokens with a verified credit card or through bank transfer. Credit card purchases come with a 3.99% fee while bank transfers have a 1.49% transaction fee.


Coinbase Pros

  • Sleek intuitive design
  • Support credit and debit cards
  • Instant purchases from verified cards
  • API tools for developers
  • Bitcoin deposits are insured
  • Partnered with major banks

Coinbase Cons

  • Caught monitoring their customers spending habits. Apparently, Coinbase has signed a contract with its stakeholders that force them to ensure Bitcoins are spent ‘responsibly’. This means that if you send BTC to adult entertainment or gambling websites, your account may be shut down without warning.
  • Coinbase has made a move against the philosophy of the crypto-community by applying for a patent for the rights to crypto wallet technology.
  • There have been some complaints from Coinbase affiliates that their earnings have been withheld due to ‘technical issues’.
  • Only offer three tokens

Coinbase Final Remarks

Although Coinbase does appear to have a slight problem with greed and a sense of dissonance with its users, it’s still a great cryptocurrency exchange for buyers. Coinbase’s main advantage is its large client base. If you do buy tokens through Coinbase, it is highly advised that you relocate your coins to a hardware wallet. But, overall Coinbase is a solid platform.


4) LOCALBITCOINS


LocalBitcoins - No bank account required
LocalBitcoins – No bank account required

About LocalBitcoins

LocalBitcoins.com was founded in 2012 by Jeremiah Kangas in Helsinki, Finland. LocalBitcoins takes a slightly different, free market approach to the buying and selling digital tokens. The platform operates as a P2P exchange that allows users to find and quickly connect with other buyers and sellers, either internationally or locally. In a way, LocalBitcoin is like the Craigslist of crypto exchanges.

The platform supports all markets from around the world, allowing anyone from any country to connect with local people. This is especially helpful to those who are only legally allowed to physically transfer BTC. The platform charges a flat 1% fee on all transactions. Deals made locally with cash come with no fees.

Although there are no ID requirements, it’s a good idea to verify your identity so that other traders are more likely to trust you.


LocalBitcoins Pros

  • No bank account required
  • Available in over 190 countries
  • Instantaneous transfers with other humans (trade requests made with other users are cancelled if a deal has not been completed within 90 minutes)
  • Very simple user interface
  • No buy or sell limit on transactions
  • Supports dozens of payment methods
  • Easy fee structure
  • With LocalBitcoin’s filter, finding the right buyer or seller is easy

LocalBitcoins Cons

  • You have to deal with people, unlike with other major exchanges, which will cause varying experiences among users
  • Only support Bitcoin
  • Possibility of being scammed, specifically with PayPal transactions, although LocalBitcoin does have a grievance process that allows those wrongfully scammed to get their money back depending on the circumstance
  • No leverage or trading tools are applicable in this P2P platform

LocalBitcoins Final Remarks

While a majority of people have had a positive experience with LcoalBitcoin, including the writer of this review, there are definitely scammers on the site. To stay safe, check your buyer or seller’s star ratings, make sure they’re using a verified account, and check out the forum every once in a while to block known scammers. This type of mistrust can make LocalBitcoin not the best option for traders dealing in large volumes of crypto. But, in the end LocalBitcoin is a unique and viable alternative to Coinbase – highly recommended.


What are your thoughts about these top cryptocurrency platforms? Is your own experience positive, negative, mixed? We’d love to hear your thoughts in the comments below.

China: Shanghai Exiting The Cryptocurrency Trading Market

source cointelegraph.com By Willie Tan

As reported by CCTV news, 17 trading platforms will stop cryptocurrency trading in Shanghai. BTCChina, Binance, SZZC, Lhang, ETCWin, Bitekuang, 51SZZC, Hanbiwang, Bitbill, 19800Net, FreeWillex, ICOAGE, 91ICO, ICOrace, ICOfox, ICORaise and ICO17 have publicly announced that they are no longer involved in ICO operations and have proposed plans to exit from the market.


According to a report by the National Committee of Experts on the Internet Financial Security of Technology of China, in January 2017 up to July 18, there were 65 completed ICO projects in China totalling RMB 2,616 bln worth of investment. Before 2017, there were only five completed ICO projects.


On Sept. 4, the People’s Bank of China (PBOC) issued an official announcement explaining that ICOs are a form of public fundraising that are yet to be approved, and illegal. It called for all ICO activities to be stopped immediately. Later on, the government of Shanghai city and Shanghai municipality, as well as Shanghai PBOC headquarters called for all digital currency trading platforms to stop trading by Sept. 30. Subsequently, the Shanghai government would supervise refunding activities to ensure that investors could get their funds back.

More than 90 percent of ICO projects have been verified and refunded. In order to ensure a smooth operation, the top management of these platforms are asked to stay in Shanghai to cooperate with the refunding activities.


Some investors are refusing refunds, one of the main reasons being that the launched ICOs are being traded overseas, and the investors believe they are entitled to own the tokens. Moreover, the prices of the tokens are increasing, so investors do not want refunds at the same price as when the ICOs were first launched. Regarding this, Shanghai regulators explained that the core principle is to protect investors’ rights and benefits. They urge for the investors and platforms to communicate better.

Bitcoin Regulation: Banco de Mexico’s View on Bitcoin

Banks such as Banco de Mexico have severally displayed their hesitancy in conceding that cryptocurrency is genuine. The bank gave its unfavorable opinions on Bitcoin in 2014, stating that it did notacknowledge digital currency as genuine.


In addition, they forbade any financial institution in the state to take part in transactions using the digital currency due to the dangers they thought that this kind of currency transactions was presenting to their safety.


At this period, they issued particular statements emphasizing why this decision was made in the following list:

  1. Bitcoins do not present legal tender since the currency is not provided by Banco de Mexico nor does it support it. Since this applies to all other states outside Mexico, it is not possible to regard it as foreign currency either.
  2. Bitcoins are not able to meet business responsibilities since it is not necessary for firms to accede to them.
  3. It is thought that Bitcoins are utilized in unlawful acts, such as money laundering, fraud and much more.
  4. The character of digital currencies is very unpredictable since costs are not fixed; rather, they are speculated. Therefore, cost stability is not promised.
  5. There is no regulation in which individuals who get bitcoins might recover their cash. This is because centralization is unavailable and there is no recognized organization that provides the asset. So, no regular manner is available to regain losses arising from using them.

In view of this, eFXto.com says that Banco de Mexico’s opinion in connection with the virtual currency has not altered a lot in 2017.


Commodity, Rather than Currency

During a Mexican University, ITAM presentation recently, Agustin Carstens said that Bitcoins need not be categorized as a genuine currency; but instead, as a commodity.


El Economista, the local newspaper indicated that the Governor supported this opinion by saying that different from its counterparts, paper currency, the digital currency lacks the support of the government or a central bank. So, it is not possible for them to be categorized as a genuine currency.


Similar to a lot of other people before him, he also talked about ‘Problems of cybersecurity,’ discussing challenges which other financial institutions experience in connection to the possible opportunity which the digital currency offers for unlawful acts.


He said that ‘nothing exists to facilitate its accounting in the industry of finance’ maybe implying the integral secrecy which utilizing bitcoins offers in the course of financial transactions.


Maybe the future holds some hope

Powerful opinions like these are being expressed; but, Banco de Mexico does not ignore the rise in market share and impact which this digital currency is experiencing.


This is especially true since a lot of investors are capitalizing on opportunities that are availed in the market of trading unpredictable cryptocurrencies.


The reason is that they are currently going through bigger price shifts because of the economic variability being experienced all over the world. In this regard, the Banco de Mexico has been analyzing endeavors of digital currencies regulation or ‘financial technologies’ such as Bitcoin.


The Governor talked about Bitcoins and offered his opinion that ‘in the financial system, technological development cannot arise from just innovation’ and said that innovation should work in collaboration with financial regulations so as to get a place in the worldwide financial market.


This indicates that while doubt exists in regard to the currency’s ‘genuineness,’ efforts are being made even now to introduce the unavoidable shift of these transactions in the greater Mexican society. They might not be regarded as genuine as paper currencies; however, Bitcoins might still present a safe area in the world of finance.

Cryptocurrency Regulation: Why Reaching an ICO Compromise Is Vital

Although initially ICOs became known in 2013, they are currently gaining momentum with investors getting involved in token sales and conventional seed and Series A financing for ICOs. Token sale regularity and dollars collected through ICO’s are making cryptocurrencies become popular also.


The significance of ICOs has been talked about in a lot of summits and Undoubtedly therefore, ICOs shall also be a major topic of the early international Blockchain function, BlockShow Asia, backed by Cointelegraph this year in Singapore. Therefore, the subject of regulation is certain to arise, be analyzed and expounded on by professionals in the world of Blockchain.


Even in the face of all the present deliberation, ICOs continue to leave many asking themselves how government, financial and bank regulators will react. The question is still whether we require ICO regulation and whether there ought to be a compromise on that regulation.


Present Condition of Regulation

Presently, there is no transparency and standardization on the matter of ICO regulation. Countries have different opinions. Governments, banks, and regulators all appear to be divided on steps toward ICOs and Blockchain system regulation in general.


The banking industry is certainly giving contradictory messages on the issue. Banks and financial services do not seem to be in favor of cryptocurrencies or public Blockchains (open) nor friendly. However, they seem to encourage the utilization of hidden factors of the Blockchain technology.


Obviously, regulators desire to try to regulate cryptocurrencies.  The US is especially opposed to the trend since they wish to regulate. Using cryptocurrency and ICO needs to be motivated as long as it carried out without violating the law.


In early August, the SEC officially proclaimed that they shall be considering regulation of cryptocurrency ICOs. SEC has taken this action, as they are worried that the character of ICOs will possibly trigger money laundering which needs to be established by regulations to avoid manipulations like these.


The key topic that is making it difficult for regulators, however, is the type of mechanism being run by Blockchain firms. Basically, the decentralized character of the coins signifies that no one entity is tasked with the provision of coins. This shows that regulators shall just manage to pursue service providers who are the third party.


SEC regulation has elicited divided reactions. The majority in the society has positive opinions since they believe ICO should be given more focus. Others, however have contempt for the idea since it opposes the very concept of decentralization in itself. The regulation for SEC may lower cost increases; however, it may simultaneously put off many profiteers.


The participation of SECs might also cause the reduction of the number of startups taking part since not all firms shall manage to adhere to the rules of SEC.  SEC regulation can eliminate innovation with a lot of ventures failing to materialize.


Different opinions worldwide

A fintech analyst and research company, Autonomous NEXT, has written a report on the condition of Blockchain ICOs. The report analyzes the regulatory and operational difficulties created by ICOs. The report concentrated on six states; Russia, China, UK, Singapore and the US. The report highlighted the mixed opinion on ICO regulation and condition of ICOs in general.


According to the report, the US and the UK have been very active in regard to ICOs but greatly lack legal transparency. Singapore and the UK possess a regulatory sandbox to experiment with latest financial projects. The term ‘alphabet soup of regulators’ has been used to describe the US, making the provision of tokens more difficult.


Adding more bewilderment, each of the 50 countries has their individual regulation in connection to ICOs. In many countries, this fairness makes the presence of united regulation impossible.


Of late, Russia has not been taking ICOs or cryptocurrencies, making unclear decisions, where embracing cryptocurrency is concerned. Authorities in Russia seem to be planning to group crypto-tokens as legal monetary tools or derivatives in coming times.


China seems to be the most decisive in their method of managing ICOs and no state has become part of such a powerful prohibition yet. Hong Kong is also set to use the same tactic to the SEC.


In China today, a lot of people are scared about ICO regulation. Each person is anxiously looking out for the third section of the government officials report regarding the issue. In spite of this anxiety, business continues to operate as normal, with firms indicating that they are unable to stop now since the tendency has started.


The market should continue operating, even with technology prohibitions. Even though the marketing has been put on hold, each person is waiting to know what takes place after this.


The Bubi Network Technology Co. Ltd (Shanghai Branch) Co-founder Director VP and General Manager Jack Yank explains at the 3rd Blockchain Summit in Shanghai to BlockShow Asia team that the Chinese state has provided immense support to Blockchain in regard to the technology.


The Central Banks, as well as numerous other large banks in China, have been studying this area and talking about the area’s future with some companies (small, medium & privately owned) such as Bubi.


In regard to the regulations, presently, the regulations connected to Blockchain have nothing to do with the technology,’ continues Yang. ‘This section is not government restricted. The state has been managing ICOs as well as other unlawful criminal wrongdoings. Their work has been geared to anti-criminal acts; but, no restriction is present on the technology growth.’


More information is circulating around that China might desire to work with other states to shield crypto trading in the world and strictly regulate it. This is to make sure that cryptocurrencies would not have an impact on standard currencies. A step like this is great for the SEC together with other state institutions who support regulation.


ViewFin founder, Eric Gu and Meta Verse Blockchain team in China tells the team at BlockShow Asia that no person is actually able to foretell how future regulations shall appear like, and therefore, many firms desire to shift to overseas; however, China represents their client base.


‘Let us imagine I have a venture in China and I relocated to Switzerland and China is where the market is. How do I describe the market and demands to Switzerland investors?’ enquires Gu.’ It shall be hard and is not feasible.’


Gu says that China presents many Blockchain startups; the number is the same as found in the Silicon Valley as the banks did not take part; they lost 3 years. When the PBOC all of a sudden discovered that Blockchain was a major factor, they directed the banks to research Blockchain and learned that the most ideal experts of the Blockchain sector are not in the area of banking.


‘Currently, these latest regulations are here and we shall possibly lose 3 additional years,’ notes Gu. ‘3 years from now, Chinese people will reflect and state, ‘We were in possession of Metaverse at a top level; however, currently, we do not.’ They shall need to utilize Ethereum as no other alternative will be present.’


As China features the hugest ICO, the regulations shall have an impact on all market in Asia, believes South Korean Exchange (Coinnest) CEO, Kim Eik Hwan. In a Cointelegraph interview, he discloses that South Korea has declared same regulations as well; however, their personality varies greatly from China’s.


‘Prohibition of Chinese ICO has been spread to the prohibition of all exchanges, while regulations in Korea are more similar to safety suggestions,’ corrects Hwan. ‘Exchange regulations in China were launched to eliminate fraud; however, they are not regulations for Bitcoin. Rather, this is an endeavor to try to eliminate unsuitable ICOs via the prohibition of exchanges.’


Recently, the Israeli state became part of the ICO study movement. They proclaimed via the panel of Israeli Securities Authority that they will study ICOs and will possibly regulate them. The head of Securities Authority, Prof. Shmuel Hauser has declared the setting up of a committee to assess whether ICOs are included in the description of a security and fall under Israeli securities law.


In the meantime, financial regulators are avoiding ICO activities. Autorite des Marches Financiers (AMF) in Quebec aims to try using Blockchain, if not generally support it. The AMF resolved that the sales of the token carried out by Impak Finance (enterprise investment startup) presents a security, therefore, including it to its regulatory sandbox.


Is regulation accessible or essential?

It is difficult to state whether a compromise in the regulation of ICOs shall soon appear or whether it is essentially required at all at this juncture. It appears a difficult task and almost impractical for regulators to standardize or manage the possible investments with a lot of new ICOs appearing regularly.


In addition, as there lacks present regulation, it shall be difficult to recognize ICOs’ illegality and since no regulation exists, the authorities lack a lot of room to adhere to any specific law.


It appears simpler to control ICO regulation if every state created their individual regulations and laws of ICOs designed to the requirement and anxieties of their state respectively.


In case the ICO form of organization becomes clearer, it shall get rid of anxieties, especially concerning SEC as well as other organizations. Also, investors should be aware of where the cash shall be precisely used.


This might be effective if the roadmap or white paper were clearly written, indicating whether the Blockchain ventures were public or open if in the event of code publication a separate audit was held or not and whether there was a listing of the ICO token on a cryptocurrency exchange.


A white paper that was well set up or good ICO roadmap might be better, compared to regulation. However, again, this might not offer any clear promise or guarantee.


Although regulation might restrict ICO’s unlawful acts, it shall also get rid of the ICOs spirit to generate profit. It is vital to remember that in case regulation does not happen, it shall make ICOs less attractive to investors.


Lastly, all over the world, compromise on regulation appears untenable in this instance since some states are split in the way to handle ICOs and cryptocurrencies. BlockShow Asia offers the medium to remain updated and get answers for more queries about ICO regulation. But, only time shall indicate whether and in what manner ICOs regulations shall develop.

ICOs: 1World Tokens’ Initial Coin Offering

1World Interactive Platform is directly aimed at publishers and brands, to deliver monetization opportunities to all those engaged in the platform. To achieve this, 1World will present this year its own cryptocurrency: 1WO Coins or Tokens. With the goal of avoiding all conflicts between Users, Publishers, and Services offered through ads, research, etc., to unify User Experience and Monetization in what they call “a Win-Win-Win model.”

1World Online  /  Engagement & Monetization Engine
1World Online / Engagement & Monetization Engine

1World cryptocurrency

Cryptocoins have changed the way we see money nowadays. Just like the gold revolutionised the world once, digital money is breaking barriers and crossing borders directly into the future. Starting with Bitcoin, we are moving into a world that will be completely interconnected, yet free because of the decentralised nature that altcoins have. Cryptocurrencies give us the ability to control our finances, and that is exactly what 1WO tokens will bring us, control.

1world-online-initial-coin-offering
1world online initial coin offering

1WO is a game changer. This coin circulates inside its own ecosystem, created by 1World Online. This means that all payments will be handled only using these tokens, guaranteeing control and safety to all parties involved. That, of course, is not to say that the tokens can’t be exchanged into fiat and other altcoins, quite the opposite, an internal marketplace will be created for such purposes.

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Characteristics of 1WO

  • 160 million 1WO Tokens will be issued, once it reaches that number, there will be no additional emissions.
  • The tokens will endure regarding the growth in the volume of transactions inside the 1World Online ecosystem, making the coin itself grow in market size as well.
  • The size of transactions will never be a problem, as the tokens can be split up to 8th decimal point position

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Token Issuance Plan

This project is divided into two stages, on years 2017 and 2018:

During 2017, up to $50M of 1WO Tokens are being sold at $1.00 each, constituting 31% of the shares. Each token sold gives 1 Token for mining to Publishers and Partners (representing 31%), 1 Token for Reserve (representing another 31%), and 0.2 Token to the Team and Advisors (for a remaining 7%).

A public pre-sale will be done from August 31st to September 24th, divided into several dates that will grant users certain discounts:

  • 25% Discount from August 31st to September 6th.
  • 20% Discount from September 6th until September 12th.
  • 15% Discount from September 12th to September 16th.
  • 10% Discount from September 16th until September 24th.

The next stage is the public sale. The time for the Initial Coin Offering will be of one month, starting on September 25th and ending on October 25, and the minimum ICO is set at $5 million. In case the money raised isn’t enough, all money will be returned within one month after the ICO is completed. If on the other hand, tokens issued go through a force majeure occurs, all funds will be returned to buyers within two months.

For 2018 and on, there will be a Periodic Token transition, to support the company growth. This means that the same rules for 2017 regarding 1WO Tokens sale could apply, while a plan to launch new Tier 1 Media Holding is done every quarter, to support the “smooth token growth” model.

So far, the funds received represent $137,837.44 in USD equivalent, and the 1WO Tokens exchange will guarantee revenues to all their users in the following way:

  • Brands will buy tokens to offer payments to publishers, who can later sell them.
  • Publishers can also benefit from ads or donations.
  • Readers receive rewards from engagements, contributions, and paid mini-surveys.