Blockchain technology promises to transform business processes, bringing automated record-keeping and turning entirely secure, distributed, decentralized, and scalable applications into a new norm in the business world.

Today, there are technical and commercial obstacles that prevent widespread adoption of decentralized applications (Dapps) in the business community. The genEOS project was created to eliminate the barriers to adoption and build a community of business and technology professionals to deliver on the power of blockchain technology.

Fostering the adoption of decentralized business applications

Introducing an operating system-like environment, genEOS facilitates the development of Dapps that rival traditional web apps for speed, versatility, and ease of use.

Project participants can not only develop, create and launch their own business outcome-driven solutions on the top of blockchain 4.0 technology but also monetize unconsumed bandwidth by renting it out to third parties. There is a strong and growing team of blockchain experts who are ready to build and maintain business-critical Dapps to order.

Key genEOS ecosystem features:

– Ready-to-go development environment for Dapps of the enterprise-grade performance.
– Transaction rates at least equivalent to real-time transaction processing of standard Web 2.0 applications.
– Real-world decentralization combined with scalability and security across the network.
– The requirement for mining is eliminated, making energy costs comparable to those of traditional web applications.
– Open-source code available on GitHub for developers to consult and use to develop their own Dapps.
– Investors from any country can participate in the project, as a US-based non-profit foundation conducts the Secured Token Offering (STO) for genEOS.

genEOS tokens and crowdsale

genEOS tokens give project participants access to the ecosystem and its specific resources such as computing features, storage features, monetization features, etc. The genEOS project has already launched the token crowdsale at [https://geneos.io/] that includes 176 distribution periods (‘windows’) and ends on December 23, 2018.

Allowing the purchase of genEOS tokens with Ethereum (ETH) and fiat currencies (USD, EUR, and CNY), they intend to generate $2 million USD as a soft cap through the STO event. All investors need to go through the KYC procedure before the token sale is over.

Project Partners

Those individuals and businesses share the genEOS’ vision and commitments towards creating a powerful, fast, and secure decentralized ecosystem that lets businesses design and deploy their own blockchain applications are always welcome to join the project.

genEOS’ advisory partner, OpenLedger ApS, has considerable experience of conducting successful ICOs and building successful blockchain-as-a-Service applications, including a decentralized trading platform. Ronny Boesing, the OpenLedger founder and CEO, is a serial technology entrepreneur who has been working with the thought leaders of blockchain technology since 2014.

Aetsoft is the project’s technology partner. The company has been on a mission of assisting businesses in developing custom blockchains as well as creating and implementing next-gen business applications on Ethereum, Graphene, and EOS blockchains.

NextGenOne llc, a non-profit organization registered in the United States of America, carries out STO as a SAFT type PPM for the genEOS project, ensuring transparency while using the latest guidance from the US SEC and US FINRA.

By Bitcoin.com PR
Source: https://news.bitcoin.com/pr-geneos-blockchain-4-0-for-business-announced-crowdsale-is-launched/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

The crypto market is notoriously volatile and unpredictable. Various factors such as country-specific regulatory frameworks, scam-related news, hacking scandals and rumours fueled by coin communities can all take a toll on the price of digital coins.

No-one knows for sure exactly how the crypto market will evolve, but experts often share their insights and opinions. With this in mind, let’s take a closer look at what some of the industry’s brightest minds think about the top 5 cryptos out there. To know more about cryptocurrencies and trading them, you can also visit the Crypto Zone by Blackwell Global.

1. Bitcoin (BTC)
Bitcoin started the crypto craze and continues to rule the roost with a market capitalisation of $113 billion as of July 3, 2018, trading at a price of $6,627. Experts predict that by the end of 2018, Bitcoin will reach a market cap of $268 billion, based on the fact that 1,800 coins are mined each day.

The past few months have been turbulent, with the coin showing a decline in prices. Blockchain influencers like Joseph Raczynski are hopeful, however. In an interview, Raczynski said: “Bitcoin is going through an existential crisis. A confluence of factors is dragging it lower — stories of whales manipulating, institutional exchanges trading, regulation around the world, institutional investor concerns. But this is familiar grounds for those long on the currency”.

Raczynski is a key blockchain influencer, entrepreneur and cyber-security specialist. He has over 169,000 followers on Twitter.

2. Ethereum (ETH)
The platform that has made unique blockchain innovations possible holds the second rank in terms of market cap and was trading at $476 as of July 3, 2018. Since Ethereum is the primary platform of choice for ICO owners to develop their projects on, their success and failure statistics drive the value of ETH.

Maria Susan, an active blockchain influencer on Steemit, says in an article: “Whereas Bitcoin is favoured by short-term investors and speculators, Ethereum is preferred and backed by major long-term investors. This means that, even though Ethereum has still not been able to catch up to Bitcoin, it’s only a matter of time. Indeed, if you look at the market capitalisation of the two, you will find that Bitcoin has lost about a half of its market share to Ethereum.”

Maria Susan predicts that Ethereum might reach the $1,000 mark by the end of 2018.

3. Ripple (XRP)
Ripple, the real-time gross-settlement system, which has gained significant mainstream adoption due to its relevance in the banking sector, occupies the third spot. It was trading at $0.50 as of July 3, 2018.

Samson Williams, the CSO of Ireland-based fintech firm SeedUps, says that the price could reach $16 by December 2018. He says: “Though not a cryptocurrency at all, it is the child of banks. So, it’ll get the natural bump from [the] 2018 recession,” according to an article.

Williams, who has been an active blockchain evangelist for the past 3 years, has also worked for institutions like Fannie Mae in the past. He has good knowledge of the banking and insurance markets.

4. Bitcoin Cash (BCH)
Bitcoin Cash is the result of a group of developers wanting to increase Bitcoin’s block-size limit. Although it came into existence as recently as mid-2017, it has kept up a steady momentum in the market for the past one year. Its community members claim that it is even better than its father coin, in terms of speed, volume, traction and adoption.

Roger Ver, also known as ‘Bitcoin Jesus’, has been an active member of the Bitcoin community since its inception and commands a follower base of 540,000 on Twitter. In an interview with CNBC, he says that more and more projects are being based around BCH rather than BTC, due to high-speed and scalability factors.

“All of these existing businesses are building their new products on top of Bitcoin Cash, just like myself as the CEO of Bitcoin.com. The economic path that Bitcoin Cash is on is the one that led to Bitcoin's original success. I'm incredibly bullish on Bitcoin Cash for the exact same reasons I was bullish on Bitcoin back in 2011,” Ver stated.

BCH, which was trading at $801 as of July 3, 2018, is predicted to rise as high as $1,500 by the time the year ends.

5. EOS (EOS)
EOS is believed to have the capacity to replace Ethereum as the authority in blockchain development due to its high-transaction speed and scalability. The altcoin holds the fifth position in terms of market cap and was trading at $9.07 as of July 3, 2018, having declined as much as 23% over the past few weeks.

EOS’ CTO, Dan Larimer, has admitted that the protocol needs some fixing. Despite this, industry experts are still bullish on EOS.

Kyle Samani, co-founder of Multicoin Capital, an Austin-based hedge fund backed by Andreessen Horowitz’s, Marc Andreessen and other VCs, said in an article on CoinGape: “People seem to forget, but Ethereum in its early days back in 2015 when the blockchain launched, it launched with no tooling, no infrastructure at all. People were really trying to beat this thing into the ground, and the system was pretty just as challenging to use for quite some time. EOS was better than that.”

He said that the platform is actively being used to build decentralized applications (Dapps) and it won’t be long before its price reaches $20.

Trading in cryptos entails risks due to market volatility, which is why many seasoned traders and beginners prefer to trade crypto CFDs as offered by leading brokerage Blackwell Global. With CFDs, traders speculate on price movements only and do not actually own any underlying assets. They can benefit from upward and downward trends.

by: Contributor Author

Read more: https://cryptovest.com/features/commentary-experts-weigh-in-on-the-top-5-cryptos-btc-eth-xrp-bch--eos/

Investing.com – Bitcoin steadied Wednesday but traders remained wary of aggressively returning to the market amid fears of further downside.

Bitcoin fell 0.49% to $6,366.1 on the Bitfinex exchange, after trading as high as $6,409.2.

Sentiment on bitcoin, however, remained negative somewhat amid a lack of inflows to support sustainable move higher.

The total crypto market cap fell to $252 billion, at the time of writing, from about $254 billion Tuesday.

A falling crypto market cap has been cited by some crypto observers as evidence of scant crypto demand in the wake of security breaches on several crypto exchanges leading to the theft of billions of dollars worth of crypto.

Israeli start-up Bancor reported Monday it had loss $12.5 million worth of ethereum and $1 million of a lesser-known token called Pundi X after cyber thieves had exploited a security vulnerability.

Large-cap cryptos followed bitcoin's move lower, while bitcoin traded roughly flat.

Ripple XRP fell 0.43% to $0.44656 on the Poloniex exchange, while Ethereum fell 0.35% to $439.45.

Bitcoin Cash rose 0.11% to $700.33, while Litecoin fell 0.44% to $77.35.69.

by: Investing.com
Source:  https://www.investing.com/news/cryptocurrency-news/bitcoin-steadies-but-traders-wary-of-downside-1526270

Riyadh Municipality, Saudi Arabia, has partnered with IBM to jointly develop a strategy to streamline government services and transactions on а blockchain, news outlet ITP.net reported July 11.

The move was made in accordance with an authoritative decision of the Government of Saudi Arabia to work on improving the quality of municipal services for customers and integrate leading technologies into services as part of the Saudi Vision 2030 program.

The Saudi Vision 2030 program is an agenda for economic development and the diversification of the Saudi economy away from oil, which comprises between 30-40 of the country’s GDP. First introduced in 2016 by Crown Prince Mohammad bin Salman, the agenda also aims to develop infrastructure, healthcare, tourism, education, as well as military spending and manufacturing.

Backed by main government departments, Riyadh Municipality, IBM, and Saudi tech firm Elm Company will arrange workshops to determine which services can be upgraded using blockchain.

IBM will subsequently develop the first blockchain solution at the municipal level, while Elm will implement the technology into services provided by the government. Tarek Zarg El Aioun, Country General Manager at IBM Saudi Arabia, told ITP that IBM “believes” that blockchain technology “has the ability to change the world in the same way [as] the Internet while redefining how business and transactions happen.” He added:

"Through the collaboration between Riyadh Municipality, Elm and IBM, we will be able to help the Saudi government reimagine and transform the way in which services are provided to citizens, residents, businesses, and visitors. It is a strategic step towards supporting the objectives of Saudi Arabia's Vision 2030."

In May, the government of Saudi Arabia conducted a “blockchain bootcamp” session focused on building Ethereum smart contracts and decentralized applications (DApps). Authorities described the event as part of its plan to create a “digital environment” under its 2020 “action plan and objectives.”

The Saudi Arabian Monetary Authority (SAMA) partnered with Ripple in February this year to provide support for Ripple’s international payments technology to banks in the country. The pilot program will allow participating KSA banks to use Ripple’s enterprise software solution xCurrent for cross-border payments.

By Ana Alexandre
Source:  https://cointelegraph.com/news/riyadh-municipality-partners-with-ibm-to-develop-blockchain-for-government-services

Investing.com – Bitcoin slipped on Monday and continued to hover near $7,000 amid a lack of meaningful data. Although not a directional driver, a report by the PBOC caught some attention as it indicated the country’s tough stance on crypto trading has proven to be successful.

Bitcoin was trading at $6,702.4 by 10:45AM ET (02:45 GMT) on the Bitfinex exchange, down 0.7% over the previous 24 hours.    
    
Ethereum, the world’s second largest cryptocurrency by market cap, slipped 0.6% to $481.6 on the Bitfinex exchange.    
    
Ripple’s XRP token fell 1.2% to $0.47640 on the Poloniex exchange.    
    
Meanwhile, Litecoin traded 3% lower to $81.861.   

A report published by the People’s Bank of China (PBOC) revealed that the cryptocurrency ban imposed by regulators in China seemed to be rather successful, as the PBOC said crypto trading in China has “all but gone away”.

The PBOC also noted in the report that Chinese regulators are not planning to lift the ban on crypto trading in the near future, as such trading pose large financial risks for Chinese investors.

Hong Kong-based media source The Asia Times recently reported that the Chinese yuan is now utilized in only less than 1% of all Bitcoin exchange trade, compared with over 90% of all global trades a year ago before the crypto ban in China took place.

“This indicates that the policy has been very successful. It is within expectations that the yuan’s share in global Bitcoin transactions would drop after China announced the ban,” said Guo Dazhi, research director at Zhongguancun Internet Finance.

In other news, Nobel prize-winning economist Joseph Stiglitz warned on Monday that the anonymity nature of Bitcoin opens the door for criminal enterprises.

"You cannot have a means of payment that is based on secrecy when you’re trying to create a transparent banking system," said Stiglitz. "If you open up a hole like bitcoin, then all the nefarious activity will go through that hole, and no government can allow that.”

Stiglitz then said further growth in the crypto market would likely bring more regulation from authorities: “Once it becomes significant they will use the hammer.”

Source:  https://www.investing.com/news/cryptocurrency-news/bitcoin-slips-chinas-crypto-ban-proven-successful-reports-indicate-1522975

Jackson Palmer, an Australian developer, and YouTuber who created the community-focused cryptocurrency Dogecoin in 2013, has come up with another comic project.

He has created a Twitter-bot that mixes up phrases from the famous ‘romance’ novel, Fifty Shades of Grey, by British author E. L. James, with jargon from numerous white papers of blockchain and cryptocurrency projects, and tweets the outcome on a daily basis.

"Make sure to follow @blockshade, it'll post some deliciously sinful new #crypto analysis each day." Jackson Palmer, wrote in his Twitter account

These are some of the hilarious tweets, produced by the bot:

"After breakfast, I shower quickly and cost-effectively exploit the price of LHT with labor-hours."

"My inner goddess jumps up and runs broker nodes for more transactions per second."

"He bites his lower lip in quiet contemplation, not taking his eyes off mine, he scrunches my panties in his hand, “you will not be used by Gnosis."

"I groan... how can I resist him when he’s pre-occupied with the USD value."

"He laughs as he gazes at me, I need space to store shards."

The bot works as an automated text generator based on a Markov chain model; however, the results are not always satisfactory. While all tweets are 100% machine-generated, Palmer has to go through them and weed out complete rubbish before publication. Markov chains are not perfect for that purpose, that's why the bot may be converted to a recurrent neural network (RNN) model in the future, he confessed.

The project has just launched, and the majority of Palmer's followers liked the joke. Fifty Shades of Blockchain’s Twitter account has nearly 4,000 followers, even though it is only four days. Inspired by the initial success, Palmer promises to go on and develop the bot further by training it on new books, to supply the community with a funny mix of popular texts and blockchain jargon.

We all know how fun-loving the Dogecoin community is. They even raised about $30,000 in cryptocurrency to send Jamaican bobsled team to the Winter Olympics in Sochi, Russia. The initiative caused 50% rise of Dogecoin exchange rate in just 12 hours.


by Tanya Chepkova

Read more: https://cryptovest.com/news/fifty-shades-of-blockchain---outrageously-sinful-crypobot-posts-funny-tweets/?utm_source=Investing.com&utm_medium=PartnerFeeds

The central bank of the Philippines, Bangko Sentral ng Pilipinas (BSP), has accredited two new cryptocurrency exchanges, Business World reported on Friday, citing a senior official’s statement.

BSP Deputy Governor Chuchi G. Fonacier told the news outlet that applications filed by Virtual Currency Philippines and ETranss have been approved, allowing the two platforms to convert Philippine pesos into virtual currencies like Bitcoin (BTC) and Ethereum (ETH). The two exchanges join previously accredited peers Rebittance, Betur (also known as Coins.ph) and BloomSolutions.

Friendly but cautious stance
The Philippines is gradually growing into a crypto-friendly region. Last year, BSP officially recognized Bitcoin as a legitimate payment method. In February, the Cagayan Economic Zone Authority (CEZA) — the government entity that runs the Cagayan Special Economic Zone and Freeport in the north-east of the Philippines — came up with regulations allowing cryptocurrency firms to establish offices and facilities in the region.

According to the rules, companies should invest a minimum of $1 million over a period of two years and pay up to $100,000 in license fees.

In April, the CEZA said it will give permission to 10 companies operating in the cryptocurrency and blockchain space to set up offices in the Cagayan Economic Zone.

Notably, the Philippines’ Securities and Exchange Commission (SEC) said late last year that it was considering legalizing the use of digital currencies in the country by classifying them as securities. However, this plan has not yet seen any developments.

The Philippine authorities had also previously considered whether the new exchanges should register as e-money issuers because they offer wallet services.

Fonacier, in her statement on Friday, mentioned that “internal consultations showed that it may not be advisable, in a bid to keep the registration process simple for these new players.”

“Now, we are refining the rules… If your business model has a portion making use of e-wallet, then there’s an additional requirement but not necessarily or automatically an e-money license,” Fonacier explained.

Despite the generally friendly stance on cryptocurrencies, the Philippine government remains cautious of the potential risks of crypto volatility, criminal involvement and cybersecurity.

The country’s Anti-Money Laundering Council will reportedly begin closely observing digital currency transactions as part of their broader effort to crack down on dirty money. Firms will be obliged to report covered transactions as well as any suspicious transactions.

Crypto transactions on the rise
Crypto transactions have been on the rise in the Philippines. Last month,

Fonacier revealed that conversion from digital currencies to the local currency averaged $36.74 million each month in the first quarter of this year, citing data from Rebittance and Betur.

The figure dropped from the $38.27 million monthly average in the last quarter of 2017 when Bitcoin prices neared $20,000.

Still, the amount represents a sharp rise from the estimated average monthly cryptocurrency transactions to around $8.8 million from January to June last year, and is expected to increase with more exchanges operating in the country.

This article appeared first on Cryptovest

In spite of a very unstable situation on the crypto market, the world’s largest virtual currency exchange expects $1 billion of profit this year.

Though Bitcoin, Ethereum, and Ripple as well as many other smaller cryptos have significantly lost in their value this year, such a situation hasn’t had any impact on one of the major players in the cryptocurrency industry – the world’s largest virtual currency exchange Binance.

According to Binance chief executive officer Changpeng Zhao, they expect their net profit to be of $500 million to $1 billion this year. As it was revealed, first half revenue was about $300 million. The exchange was opened a year ago, but its average daily turnover has already reached approximately $1.5 billion. Currently, Binance has 10 million users and can handle nearly 1.4 million transactions per second.

The success of Zhao’s exchange may seem really unbelievable. The company manages to thrive despite high volatility of the market, significant decline in cryptocurrencies prices (Bitcoin has lost 52 percent of its value this year), hackers attacks that regularly take place on different platforms, and introduction of stricter regulatory frameworks in different countries all over the world.

Speaking about risks of attacks and technical issues, we should mention that just a couple of days ago, Binance was enforced to suspend all the trading services on its platform due to system maintenance that followed some irregular transactions with the Syscoin’s SYS token. Trading, withdrawals and other account functions were suspended

Moreover, Binance has faced with difficulties in relations with authorities in Japan and Hong Kong and now has plans to open its offices in Uganda, Bermuda and Malta which will allow customers to exchange their crypto tokens for the range of fiat currencies including the euro.

CoinSpeaker has already written about the plans of Binance to expand its geography and enter the market of Uganda opening its first crypto-fiat exchange. And it is a very big step for Binance though rather challenging.

The level of bank adoption in Africa is extremely low. Nevertheless, such a situation may be very beneficial for the development of the crypto industry in the region. The new platform that will be called Binance Uganda will attract users offering them a month of zero transaction fees.

The distribution of crypto in Uganda is not a simple task, moreover, the company has never worked with fiat money. Nevertheless, if the project is successfully implemented, it will become a real milestone not only for Binance, but for the whole country and the rest of the world as well.

As for another destination that attracts Binance as a new jurisdiction is Malta and such a decision is quite natural. Currently, Malta is doing its best to becoming the friendliest country for companies dealing with cryptocurrencies from all over the world.

The country is introducing regulatory framework for the economy that is open for technology and innovations.  Recently, the government has presented three cryptocurrency-friendly bills that cover the regulation of ICOs, guidelines for cryptocurrency exchange operators and the broader regulation of the crypto and blockchain industry.

BY: JULIA SAKOVICH
Source: https://www.coinspeaker.com/2018/07/07/binance-crypto-exchange-foresees-profit-hit-1-billion-in-2018/