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Topics - VeryWellDone

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Cryptocurrency discussions / Delegated harvesting lets you passively earn block rewards on-chain. Possible?

« on: August 12, 2020, 03:57:54 AM »

According to people reviewing it, NEM's Symbol has an economic system that allows you to passively earn coin rewards just as if you were mining. Which they're saying is better than staking rewards given by exchanges since you don’t need to put your coins on an exchange and you are earning actual block rewards.

You’ll earn on-chain block rewards even when your computer is turned off, and the rewards are sent to you instantly, the moment they are earned.

Source -- https://symbolplatform.com/latest/delegated-harvesting-explained

Can this be a new way of earning similar to airdrops/bounties?

Cryptocurrency discussions / NEM blockchain infrastructure for business enterprise

« on: August 09, 2020, 02:00:34 AM »

NEM is the global brand on the blockchain that focuses more on enterprise solutions since early 2017. It is set on a course to fulling its core purposes as it releases tools that are aimed at enhancing the operations of enterprises and businesses, topmost of this is the release of Symbol an enterprise-ready blockchain this year.

Symbol network is created to be the connector between businesses, developers and individuals making enormous possibilities available. The right tools and environment is an essential ingredient for the success of most businesses. NEM recent developments will see to these various essential attributes added to aid users.

Once more NEM solidifies itself as a user-centric blockchain relying solely on the power of the community which is believed to be the true spirit of the blockchain. Blockchain ecosystems that do not adopt the true decentralized governance system go against completely what the blockchain stands for. Further strengthening the community, the satisfaction of the business community expectations will be realized within the Symbol ecosystem.

Source

Is this enough for businesses, even the top ones, to finally trust and use blockchain technology?

Cryptocurrency discussions / Tencent Builds Blockchain Platform for China’s Oldest Wine Producer

« on: August 04, 2020, 10:50:56 PM »

Chinese tech giant Tencent has revealed its plan for creating a blockchain-based wine traceability platform in collaboration with Changyu, China’s biggest and oldest wine producer, according to local news on July 31. It is said to be a nationwide first for the country’s domestic wine industry.

According to Changyu, the platform is designed to trace every step of the wine-making and sales processes, including planting, brewing, distribution and management. It will issue a unique traceable certificate for each bottle of wine it produces.

The whole process will be recorded on the blockchain network. The firm’s bottles’ scannable QR codes would allow consumers to verify the authenticity of the wine. The QR code will also present a whole set of data like plantation information of the grape types, origins, rainfall levels, temperature information among other things.

The blockchain network will reportedly help distributors and sales outlets to catch counterfeit bottles and to identify bottles that have failed quality-control tests.

As Cointelegraph previously reported, Symbol from NEM makes blockchain solutions to solve wine tampering and counterfeiting problems to save millions for the wine industry.

Source

Cryptocurrency discussions / The newest vertical in the NEM ecosystem—Symbol.

« on: August 02, 2020, 08:15:56 PM »

Early this year - The NEM Foundation has announced the public testnet and new name for SYMBOL From NEM, the blockchain platform developed under the codename “Catapult.” SYMBOL is a full-featured solution for enterprises supported by a plugin engine that allows effortless interoperability and configuration. SYMBOL’s plugins enable digital asset creation, decentralized swaps, multi-level multi-signature accounts, advanced account systems, business logic modeling, and interaction between public and private data.

They're already being used by 4+ companies AFAIK prior to the token launch, and I'm considering to get the token (because its from NEM). Considering NEM's established brand, network, and community assets that have already paved the way for existing business collaborations, will it also exceed our expectation?

Cryptocurrency discussions / How can blockchain help amidst the pandemic?

« on: July 29, 2020, 08:10:46 AM »

Because of the pandemic, everyone is almost going digital and we're more prone to cyber-crime, fraud, and possibly scams.

Blockchain technology being seen as a trusted record, a ledger that can never be cheated on, can possibly solve these issues for most of the people. This type of verification also has many other applications, such as making it trivial to verify IDs, university degrees, memberships, and authenticity of artwork or goods. Client apps have already been developed to make these kinds of verification free and easy using web browsers, mobile apps, or desktop apps.

Source - https://symbolplatform.com/latest/prioritizing-trust-in-a-new-pandemic-reality

Can blockchain technology be a solution to solve all these crimes that may happen because of the new pandemic reality?

Cryptocurrency discussions / NEM (XEM) Marks Improvement Amidst Volatility

« on: July 25, 2020, 03:52:10 PM »

NEM coin’s recent market momentum has astounded many in the market. The currency has been holding the current position strong from over a couple of days and looks like it might continue the same. The heavy pick and drop might affect the coin but not substantially.

According to recent news, NEM has invested in SharpShark. The company is a Symbol-powered time-stamping service provider that protects the creator(s)’ copyrights. SharpShark also allows the tokenization and transfer of intellectual property along with the auto-monitoring of violations.

SharpShark aims to diagnose plagiarism, remove copyright infringement to give users complete control over their respective creations. Ultimately, the service allows the users to experience an equitable decentralized option for safeguarding intellectual property.

As for their upcoming platform Symbol from NEM they have enabled "to" exchanges for $XEM. It means, now you can swap $XEM with 96 different coins in both ways.

Is NEM one of the good coins to hold during this altseason? And should we buy more?

Cryptocurrency discussions / Blockchain technology preventing fraud products.

« on: July 19, 2020, 01:27:44 PM »

Has anyone tried using blockchain tech to check a tangible product's traceability and how is it effective?

I've honestly haven't tried one yet but I do believe that blockchain can excel in that area, considering that no one can just fake things here. LuxTag does that for tangible products to make sure that it's legit and they are using Symbol blockchain to keep things streamlined and cost-effective. Very interesting that they can maintain their branding/app name and still use all the benefits of Symbol too.
https://symbolplatform.com/latest/a-deep-dive-into-businesses-using-symbol-luxtag

Can this be applied to ALL industries? Ecommerce, Food, Jewelry, etc.?

Cryptocurrency discussions / How effective can blockchain be in healthcare during this pandemic?

« on: July 16, 2020, 11:12:54 AM »

We can only imagine how hard it is for statisticians to keep track of all that's happening in the world right now, COVID, and other diseases slowly growing in different countries. During these crazy times, how can blockchain help and be beneficial?

For Symbol, their enhanced security could allow healthcare providers to run secure, decentralized databases. Furthermore, considering that data is a critical asset in the healthcare industry, the use of blockchain technology could be very useful for the sector.

Is this something that hospitals, health centers, governments should take a look into? Especially that this virus can stay with us for 1~2 more years.

Cryptocurrency discussions / Bank of Lithuania's making the world’s first digital collector coin using NEM

« on: July 14, 2020, 03:24:42 PM »

Bank of Lithuania wanted to celebrate the 1918 Act of Independence and the innovative role the 20 original signatories played in the creation and development of the Lithuanian state. At the same time, the Bank wanted to progress the Central bank’s understanding and use of virtual currencies, providing greater depth of understanding in numismatics and engaging younger citizens in coin collecting using elements of gamification and play.

To celebrate the Act of Independence of 16 February 1918 and its 20 signatories, the Bank of Lithuania, through LBCoin, is issuing 24,000 blockchain-based digital tokens and 4,000 physical silver collector coins.

NEM Symbol APIs ensure seamless integration with existing enterprise systems and processes - it is focused on enterprise needs and developers that used to work with those. Furthermore, tiered architecture and plug-in based solutions improves flexibility and speeds up development time dramatically. Asides from this, Symbol's token will be used on Wine companies, IoDLT, insurance, real estate, etc.

[Source - https://blog.nem.io/lbcoin-the-worlds-first-digital-collector-coin-from-bank-of-lithuania-using-nem-blockchain/]

It's happening!! We can see more countries and banks actually seeing the benefit of cryptocurrency and blockchain as a whole, do you guys think that we'll be seeing more of these?

Cryptocurrency discussions / Adoption of NEM’s Symbol Blockchain Increasing Among Central Banks and Startups

« on: July 11, 2020, 06:49:41 PM »

Only months ago, we were reporting on the release of ‘Symbol’. A product of NEM, Symbol is a hybrid blockchain, built specifically with enterprises in mind. Symbol’s hybrid blockchain brings together the advantages of private and public blockchains to provide the best of both worlds for enterprise users and their customers.

The launch of Symbol marks a focused effort towards servicing the security token arena, and makes full use of the widespread flexibility, and functionality, that the Symbol blockchain offers.

Today, we highlight two recent instances of adoption of Symbol by a promising startup and a central bank.

Read more here: https://www.securities.io/adoption-of-nems-symbol-blockchain-increasing-among-central-banks-and-startups/

Cryptocurrency discussions / Can two blockchains coexist?

« on: July 09, 2020, 08:27:58 AM »

We've seen it happen with STEEM and Hive where both decentralized content blockchains were made and actually acquired by TRON. The result of those 2 blockchains joining and being made by STEEM which already has a reputation = Steem holders went from having 1 token worth .15 to 2 tokens collectively worth .45 - 3x profit)

It can possibly happen with NEM as they launched Symbol, which is a blockchain built for businesses. Is success 100% guaranteed whenever a major project double their ecosystem, with 2 tokens?

Cryptocurrency discussions / Wine company using blockchain to eliminate fraud and secure authenticity.

« on: July 07, 2020, 11:51:00 AM »

Logistics and fine wine has been open to exploitation for some time. There are multiple examples of wine tampering, theft, counterfeiting and passing that all undermine confidence in both the supply and demand of fine wine as an asset class around the world, costing producers millions of dollars in lost revenue.

A recent Forbes article described wine fraud as an ‘epidemic’, with claims that over 50% of all wine exceeding $35 per bottle sold in China as being counterfeit. An estimated 30,000 fake bottles of wine are sold each hour in China alone.

A new initiative coming from NEM which is called "Symbol", helps wine growers and producers keep track of what’s happening with their raw materials and products at every stage of production and distribution, by using blockchain to track and verify the product as it leaves the vineyard, with all key information publicly available to reinforce the wine’s authenticity. If other industries such as food, agriculture, etc. started utilizing them this way, their token value will surely increase.

Will we see more of these scenarios in the next coming years?

Cryptocurrency discussions / Identity Features in blockchain technology. Has anyone tried it already?

« on: July 07, 2020, 09:56:38 AM »

Check out this article that featured companies using the identity layer feature of blockchain technology - https://gomedici.com/22-companies-leveraging-blockchain-for-identity-management-and-authentication

In Switzerland, a privacy-centric, regulatory compliant blockchain recently announced that their Testnet 2 is already live and it has their "game-changing" identity features which will make businesses want to implement this technology.

Anyone here who has tried it? And how impactful is identity-feature/ID-layer at the protocol level for businesses and major corporations?

Cryptocurrency discussions / Cannabis company in Colombia using blockchain for their crops.

« on: July 06, 2020, 03:51:30 PM »

With legislation paving the way for legalization of cannabis across the world, a Cannabis company based in Colombia is using blockchain to learn about the future of traceability in their crop (Enabling cannabis growers to trace their crop from seed to sale). Together for its management & compliance platform, ensuring confidence in the quality of medical cannabis & adherence to government regulations.

They're working closely with Symbol from NEM and their blockchain to maximize its functionalities of rapid technological implementation, simplicity in its learning and robustness in its design and architecture. It has both dedicated enterprise chain features and all decentralization features to target the market cap too and increase it's token value moving along.

With more people getting anxiety issues during this pandemic, CBD has risen up its sales and this can be the future of blockchain technology being used.

What does it take for companies to use blockchain technology more?

Cryptocurrency discussions / Is cost-reduction attractive enough for businesses to use blockchain?

« on: July 05, 2020, 03:48:08 PM »

In an uncertain economy when every penny counts, even the smallest increase in revenue or reduction in expenses can have an impact on company profitability. It's often simple, common sense steps that improve the bottom line, especially for a small business.

Recently, Symbol from NEM will allow businesses to tap into a next generation blockchain ecosystem that helps to reduce costs, while also maintaining the highest levels of speed, efficiency, security and flexibility. Features such as Consensus Mechanism, customization and flexibility, etc. The good thing is that it retains the community focus and character of decentralization that NEM has become renowned for, therefore making their new token (XYM) to reach great potential.

As we approach mid-year, this is a good time to step back and have these businesses look carefully with their practices. Is this the perfect time to get them introduced to blockchain technology?