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The Blockchain industry

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Aventus is a blockchain solution for selling tickets to events. DENT is a global market for data sale and purchase. Agrello develops an Artificial Intelligence interface that allows the administration and creation of smart contracts with the same legal basis as traditional contracts. MyBit manages the property by adding a layer of copyright data to the blockchain. It is just an ICO market sample, which shows very well how diverse the market is.

Investors have been discussing for more than three years the application of blockchain technology in various areas (IoT, predictions, gaming, administration, etc.). These ICO projects are mostly opportunities to test what and how the blockchain can do, and in what form. This is why BTCXchange does not intend to filter the listed ICOs. Learn more here.

We are not trying to filter the ICOs that will appear on our platform, although most likely in time there will be a set of general requirements for an ICO to be listed with us. In short, we intend to bring order in this early and disordered field at the moment. However, it’s also normal to be misguided as any beginning.

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BTCXchange will exchange some of the coins after they are out of ICO

We list only those for which we have technical possibilities; there are many and very different. For example, some do not have a fixed price, and the amount of coins is distributed proportionally among all buyers. This kind of currency cannot be listed at the moment, but in the future, we may have a solution for that.

Satoshi Nakamoto’s idea obviously disturbed many influential people. Indeed, from the beginning, he hoped the bitcoin would become a spin on the coast of the wealthiest people in the world who are trying to govern the economy. This attitude attracts many risks. Why would they assume them, especially when the adversary camp is made up of powerful, resourceful people?

If bitcoin intermediaries cannot be trusted – and eventually there are people you do not know – how can you buy and sell something on the internet without worrying? See the Bitcoin Trader system review and understand how you can profit from bitcoin here.

Losses cannot be eliminated but can be brought to a minimum

OpenBazaar, a decentralized shopping and sales protocol, is one of the examples of buying solutions that remove bitcoin intermediaries. Its developers have recently published these five benefits that, they believe, will lead to a complete decentralization of online commerce:

1. Markets are resilient. No central control point can be broken down, neither by external agents nor by some internal agents.

2. Funds are not subject to central control. There is no central authority in which to invest trust and no jackpot you want to steal. Individuals control the funds directly and most likely use the multisig system for transactions.

3. There are no commissions. The exchanges take place directly between the parties; there are no site operators to stop a party for them.

4. There is no aggregation of data. Site operators (and data thieves) take advantage of data aggregation in centralized systems, but centralized systems do not have a data treasure buried somewhere through the system, so there is a reason to minus to be targeted.

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5. Trust and reputation are dynamic. In a centralized system, you are forced to trust the operators of the site, and the reputation system is static and determined by the site operators. In a decentralized system, you do not have to trust someone else. The reputation system may appear without any control or censorship on the part of the central authorities.

Check this out: https://www.ft.com/bitcoin

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Reputation in its place (virtual)

It seems therefore that in a market without primary empowered agents, reputation continues to play an important role. You do not necessarily know the name of the vendor or how it looks. Theoretically, the Internet allows them to deceive without revealing their identity. However, he is less motivated to do so as long as he does not tempt him $ 12 million in bitches.

The blockchain industry is worth trillions of dollars

New York’s Union Square Ventures investment company is of the opinion that the winning projects based on blockchain technology will be worth trillions of dollars. The company is currently managing approximately $ 1 billion in revenue and has already invested in the Coinbase Cryptomonas Exchange, based in San Francisco.

One of the Union Square Ventures partners, Albert Wenger, told CNBC that he believes investors can get significant revenue by investing in the right projects. Investors are incredibly rational when injecting much money into the blockchain sector because they are aware that winning projects will be worth a trillion or even a few trillion dollars. Of course, not all projects will be successful, but that’s just an increase in value for those who succeed.

When it comes to investing in cryptomonads, Wenger believes that the secret is diversification. He has stressed that there are many projects in the blockchain industry that will disappear along the way, so portfolios diversification will help to select the elements to ensure future success.

British Minister recommends using the blockchain

Britain’s Housing Minister Eddie Hughes published yesterday a report entitled “Unlocking Blockchain” proposing several methods by which the British government can benefit from the use of blockchain technology. Using examples from other countries such as Estonia, Hughes proposes that the government exploit this technology to develop social freedom, increase efficiency and rebuild society’s trust in the authorities.

The British Government has stated that it is currently studying the potential offered by the use of the blockchain in various fields of activity, but no concrete projects have been issued so far. The Cabinet of Ministers and the Digital Government Service are investigating potential uses of DLT / blockchain technologies in collaboration with public departments and bodies for future studies and proofs of concepts to streamline and support transformation.

The Hughes report proposes several areas where the implementation of new technologies will allow both the reputation of the population in authorities and significant savings: in the retail industry, blockchain can automate the operational processes, which currently involve considerable staff costs in the financial sector, investment banks can significantly reduce their infrastructure costs – by 30%, according to Accenture’s studies in 2017. For the banking system as well, the benefits of using blockchain mean 15-20 billion dollars a year reductions for international money transfer services and securities trading.

Sweden uses a blockchain for cadastre and property registration systems, saving more than $ 100 million per year by removing bureaucracy and fraud, and facilitating transactions. It also mentions the benefits that humanitarian organizations can gain faster, as well as the savings made in the logistics industry. According to Hughes, the UK should create the “Chief Blockchain Officer” to coordinate the implementation of technology in the economy and administration so that the population can benefit from all the advantages of the blockchain.

Moreover, users can register in their digital wallets with minimal documentation. They will only be subjected to a single KYC check, depending on the need to trade with other users dealing with restricted products or services. Depending on the sensitivity of these data, verified claims may also be hidden cryptographically. This ensures that only certain entities can access user information through the network.

About Rohit Shetty

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