claimAll will not work for most users. When you get to the claim step, please use the following tutorial: https://steemit.com/eos/@koyn/minimizing-the-cost-of-gas-when-claiming-eos-using-myetherwallet
REMEMBER YOU ONLY NEED TO REGISTER YOUR TOKENS IF YOU BOUGHT THEM ON AN EXCHANGE. YOU DON'T NEED TO CLAIM THEM.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
- Go to the EOS website https://eos.io
- Scroll down and select "GET EOS"
- Tick all the required boxes and click "Continue"
- Scroll down and click "Register"
- Select Metamask, MyEtherWallet, or Ethereum Wallet
- Follow the guide.
- Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them.
The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain.
Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers.
Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."To ensure EOS tokens are not classed as a unregistered security block.one has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from block.one:
"block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”It is expected that many blockchains using eos.io software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of block.one a $1bn fund will be has been created to incentivise projects to use this blockchain.
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
“block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.”
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad.
The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."
https://preview.redd.it/comrfanlpuv31.png?width=2000&format=png&auto=webp&s=02324c6250b7dc4aa34313b5fe20ca8b9513dd92submitted by Rajladumor1 to omgfin [link] [comments]
Today, Oct. 31, marks eleven years since the publication of the Bitcoin white paper by the still-mysterious person or group pseudonymously identified as Satoshi Nakamoto.
A revolutionary textBitcoin: A Peer-to-Peer Electronic Cash System — published on Oct. 31, 2008 — outlined a tamper-proof, decentralized peer-to-peer protocol that could track and verify digital transactions, prevent double-spending and generate a transparent record for anyone to inspect in nearly real-time.
The protocol represented a cryptographically-secured system — based on a Proof-of-Work algorithm — in which Bitcoins (BTC) are “mined” for a reward by individual nodes and then verified by other nodes in a decentralized network.
This system contained the possibility of overcoming the need for intermediaries such as banks and financial institutions to facilitate and audit transactions — a major disruption to a siloed, monopolized field of centralized financial power.
304033233% all-time-price appreciationEleven years on, Bitcoin is consistently setting new records for its network hash rate — a measure of the overall computing power involved in validating transactions on the blockchain at any given time.
More power and participation establishes greater network security and attests to widespread recognition of the profitability potential of Bitcoin mining.
As of the middle of this month, network data revealed that since the creation of the very first block on the Bitcoin blockchain on Jan 3, 2009 — known in more technical language as its “genesis block” — miners have received combined revenue of just under $15 billion.
The figure includes both block rewards — “new” bitcoins paid to miners for validating a block of transactions — as well as transaction fees, which broke the $1 billion mark this week.
Bitcoin’s first-ever recorded trading price was noted on Mar. 17, 2010 — on the now-defunct trading platform bitcoinmarket.com, at a value of $0.003.
The cryptocurrency’s appreciation thus stands at a staggering 304033233% as of press time, with Bitcoin currently trading at $9,120.
As of this August, 85% of Bitcoin’s supply in circulation had been mined — leaving just 3.15 million new coins for the future.
Eleven years on, the mystery enshrouding the white paper’s author remains as impenetrable as ever. Those both within and without the crypto community began attempting to determine Nakamoto’s identity as early as October 2011, just a few months after the mysterious figure first went silent.
Artwork by Design Team - Bitcore BTX ® 2018submitted by dgcarlosleon to bitcore_btx [link] [comments]
Dear Bitcore BTX community. Bitcore Core Wallet version 0.15.2.0 has now been released which includes a very important security fix for a DoS vulnerability, CVE-2018-17144! It is important to keep our wallets updated, because this will give you a better security of your BTX.
The updates well to improve the programming codes and make more efficient the ecosystem, so we ask you to make these updates.
Here we leave the links to the different wallets that we have at your disposal, please choose the one that best suits your needs and requirements and do not forget to follow the security steps to safeguard the integrity of your BTX.
The release is available now at: Bitcore BTX Core 0.15.2.0
Wallets: WIN | WIN+BLOCK (861MB) | LINUX | MAC
Web: Official | News | Coin Specs | Roadmap | White Paper | Ecosystem | Network Update | Community | FAQ | Blog | Team Wallets: Windows | Win Wallet & Blockchain | Linux | Mac | iOS | Android | Eletrum | Zeltrez | Jaxx Liberty Exchanges: Bit Z | Cryptopia | hitBTC | VE Bitcoin | Exrates | Crypto Bridge | QBTC | Coinexchange | Octaex | Bitexlive | Bitibu | Trade Satoshi | PayCML | Excoincial Services: Livingroom of Satoshi | Kamoney | Cryptonaut | EasyRabBit.net | LuckyGames.io | InstaSwap Block Explorers: InsightAPI | Crypto ID | Liivenet Mining Pools: Bitcorepool | Yiimp | Suprnova | Chainworks | Umine | Ant Mine Pool | Coin Miners | BSOD | BTXpool | Minersport | Omegapool | PoolGPU Market Info: CoinMarketCap | World Coin Index | Cryptocompare Source: Github | Kryptowerk | DgCarlosLeon
Sacred prostitution, temple prostitution, cult prostitution, and religious prostitution are general terms for a sexual rite consisting of sexual intercourse or other sexual activity performed in the context of religious worship, perhaps as a form of fertility rite or divine marriage (hieros gamos). Some scholars prefer the term sacred sex to sacred prostitution in cases where payment for services was not involved.But some scholars believe that this practice never existed and has been misunderstood.
The practice of sacred prostitution has not been substantiated in any Ancient Near Eastern cultures, despite many popular descriptions of the habit. Through the twentieth century, scholars generally believed that a form of sacred marriage rite or hieros gamos was staged between the king of a Sumerian city-state and the High Priestess of Inanna, the Sumerian goddess of sexual love, fertility, and warfare, but no certain evidence has survived to prove that sexual intercourse was included. Along the Tigris and Euphrates rivers there was a temple of Eanna, meaning house of heaven dedicated to Inanna in the Eanna District of Uruk.This will be relevant in my next post about the source of Yahweh's narcissism but for now, I'm just using this to illustrate part of the reason I think America is Babylon.http://4.bp.blogspot.com/-KlpGZ9JO_d4/U0P2Y-3kfEI/AAAAAAAAMJs/PEwa9mPU67w/s1600/Lady+Liberty+-+Statue+of+Liberty+-+Inanna+-+Ishtar+-+Anunnaki.jpg
The Sumerians worshipped Inanna as the goddess of both warfare and sexuality. Unlike other gods, whose roles were static and whose domains were limited, the stories of Inanna describe her as moving from conquest to conquest. She was portrayed as young and impetuous, constantly striving for more power than she had been allotted.Inanna also was depicted as riding a Lion and she associated with the planet Venus.
An asteroid will pass directly in front of Regulus, one of the brightest stars in our night sky, next Wednesday — briefly blacking out the star in what astronomers are calling a “once in a lifetime” event. Better yet, New York City falls directly within the viewing path which is literally paper-thin on the earths scale. The event is so small, and so brief, that it will only be visible over a sliver of area. And this area happens to encompass millions of people in New York City, Northeast NJ and Long Island.https://www.space.com/25084-regulus-star-lion-constellation-leo.html
On Thursday, March 20 2014, Regulus will participate in a rare celestial event when an asteroid passes directly in front of the star, as seen from Earth. The asteroid in question is 163 Erigone. Asteroid 163 Erigone is about 45 miles (72 km) wide, but its "shadow" slanting to Earth's surface will be 67 miles (108 km) wide.This "once in a lifetime event" eclipsing right over New York. Where the Statue of Liberty is.
Erigone's shadow will move on a southeast-to-northwest trajectory and will extend from New York City as well as western and central Long Island to Oswego in New York State, and then continues northwest, the length of Ontario to the Hudson Bay shore of Manitoba. Those who are within the shadow path and watching at just the right moment with just their eyes will see an amazing sight: Regulus will seem to abruptly disappear as if a switch had been thrown, blotted out by the tiny invisible asteroid.
Regulus will remain invisible for up to 14 seconds (for those situated along the center of the path); an incredible, albeit very brief occurrence.
There I saw a woman sitting on a scarlet beast that was covered with blasphemous names and had seven heads and ten horns. 4 The woman was dressed in purple and scarlet, and was glittering with gold, precious stones and pearls. She held a golden cup in her hand, filled with abominable things and the filth of her adulteries. 5 The name written on her forehead was a mystery:America's colors are red, white and blue. Red+Blue = Purple. Purple apparently represents royalty as well as vanity. Scarlet represents the blood of Christ and martyrs.
15 Then the angel said to me, “The waters you saw, where the prostitute sits, are peoples, multitudes, nations and languages. 16 The beast and the ten horns you saw will hate the prostitute. They will bring her to ruin and leave her naked; they will eat her flesh and burn her with fire. 17 For God has put it into their hearts to accomplish his purpose by agreeing to hand over to the beast their royal authority, until God’s words are fulfilled. 18 The woman you saw is the great city that rules over the kings of the earth.”
The woman was dressed in purple and scarlethttps://en.wikipedia.org/wiki/Purple
The color purple is also associated with royalty in Christianity, being one of the three traditional offices of Jesus Christ, i. e. king, although such a symbolism was assumed from the earlier Roman association or at least also employed by the ancient Romans.https://en.wikipedia.org/wiki/Scarlet_(color)
In Europe and America, purple is the color most associated with vanity, extravagance, and individualism. Among the seven major sins, it represents vanity. It is a color which is used to attract attention
In the Roman Catholic Church, scarlet is the color worn by a cardinal, and is associated with the blood of Christ and the Christian martyrs, and with sacrifice.According to this, the creator wanted the Statue of Liberty to be covered in gold.
and was glittering with goldhttps://parade.com/311395/viannguyen/10-things-you-didnt-know-about-the-statue-of-liberty-she-was-almost-gold/
**8.Bartholdi planned for the statue to be covered in gold.**In order to make the statue visible after dark, Bartholdi proposed that Americans raise the money to gild her. However, given how daunting and arduous a task it had been to gather even enough money to place the statue in New York harbor, no one followed through on paying the enormous cost of covering the massive statue in gold.Not to mention this little interesting fact that brings the 2nd Beasts actions that are spoken of to mind.
:The second beast was given power to give breath to the image of the first beast, so that the image could speak and cause all who refused to worship the image to be killed.http://justfunfacts.com/interesting-facts-about-the-statue-of-liberty/
:**9. Thomas Edison once had plans to make the statue talk.**When Edison introduced the phonograph to the public in 1878, he told the newspapers that he was designing a “monster disc” for the interior of the Statue of Liberty that would allow the statue to deliver speeches that could be heard up to the northern part of Manhattan and across the bay. Thankfully, no one pursued that strange promise, which would have led to the odd experience of walking in New York and suddenly hearing the Statue of Liberty “talking.”
precious stones and pearls.
The sculptor Frédéric Auguste Bartholdi designed the statue to be fully illuminated, a feature that’s suggested in its official name, “La Liberté Eclairant le Monde,” or “Liberty Enlightening the World.” (At first the Statue of Liberty doubled as a lighthouse, given its position in the New York Harbor, but that didn’t last: It was decommissioned as such in 1902.)https://thumbs.dreamstime.com/b/torch-statue-liberty-closeup-isolated-white-background-56181619.jpg
Originally the lighting scheme was to be red, white, and blue—with a giant searchlight trained on the statue’s face and shoulders. Officials claimed in 19th-century newspaper accounts that they would make the statue so bright as to cast a glow on the clouds of the night sky 100 miles away. The statue’s face was to be lit by a reflector so bright that newspapers described it as “4 million candle power.” Her diadem was meant to sparkle with electric light. These were lofty goals in the dawn of the electrical age, and they carried symbolism that has lost much of its potency now that electricity is taken for granted.
She held a golden cup in her hand, filled with abominable things and the filth of her adulteries.In the torch, the flames are covered in gold. Looks enough like a cup. Also, in Isaiah 14:12 (another prophecy detailing the fall of Babylon that I didn't bother copying and pasting all of here) it refers to Babylon (or it's king) as "Lucifer, son of the morning". Lucifer means "light bringer" (hence the torch and the statue's original name being Liberty Enlightening the World) or "morning star" which is another name for the planet Venus which is associated with Inanna/Ishtar.
How art thou fallen from heaven, O Lucifer, son of the morning! how art thou cut down to the ground, which didst weaken the nations!https://twistedsifter.files.wordpress.com/2014/07/statue-of-liberty-from-above-aerial-satellite-photo.jpg
The beast and the ten horns you saw will hate the prostitute. They will bring her to ruin and leave her naked; they will eat her flesh and burn her with fire. 17 For God has put it into their hearts to accomplish his purpose by agreeing to hand over to the beast their royal authorityThe 10 kings + the beast = 11.
The seven heads are seven hills on which the woman sits. They are also seven kings.It has 7 spikes coming out of the head.
Then the angel said to me, “The waters you saw, where the prostitute sits, are peoples, multitudes, nations and languages.The creator of the Statue of Liberty, Frédéric Auguste Bartholdi, was a Freemason and they placed this plaque at the base of the statue.
Masonic theories abound about the Statue of Liberty’s connection to the masons. Those who do ascribe to the theory cite Bartholdi’s and Eiffel’s membership in the Freemasons, that many original plans for the statue demonstrate the link and that many elements of the statue carry symbolic meaning.Then there's the poem that is inside the base.
In addition, the masons presided over the cornerstone laying for the Statue of Liberty, a moment commemorated in a 1984 plaque in dedication to the masons on the 100th anniversary. In 1884, the grand master William A. Brodie laid the cornerstone with grand lodge members present. Brodie is reported to have said, “Why call upon the Masonic Fraternity to lay the cornerstone of such a structure as is here to be erected? No institution has done more to promote liberty and to free men from the trammels and chains of ignorance and tyranny than has Freemasonry.”
The New ColossusThe Mother of exiles.
Not like the brazen giant of Greek fame,With conquering limbs astride from land to land;Here at our sea-washed, sunset gates shall standA mighty woman with a torch, whose flameIs the imprisoned lightning, and her nameMOTHER OF EXILES. From her beacon-handGlows world-wide welcome; her mild eyes commandThe air-bridged harbor that twin cities frame.
"Keep, ancient lands, your storied pomp!" cries sheWith silent lips. "Give me your tired, your poor,Your huddled masses yearning to breathe free,The wretched refuse of your teeming shore.Send these, the homeless, tempest-tost to me,I lift my lamp beside the golden door!"
45 “Come out of her, my people!Run for your lives!Run from the fierce anger of the Lord.46 Do not lose heart or be afraidwhen rumors are heard in the land;one rumor comes this year, another the next,rumors of violence in the landand of ruler against ruler.47 For the time will surely comewhen I will punish the idols of Babylon;her whole land will be disgracedWell, we're definitely hearing of rumors of violence here in America and if there aren't rumors of ruler against ruler, we're going hear them soon.
Welcome to General Election 2016 – The TransitionThis is also known as
The Hegelian Dialectic is the transition of things. And the Illuminati loves to use it. We have been expecting it.
We have read about it. And now it is here, in front of our faces. And many are IGNORING it.
Folks, we are witnessing Hegelian logic on display.
How we got here is an aside, but here we are. The disease is Hillary, and the medicine is Trump. For most folks, that’s all that matters. Case closed. What most citizens do not realize is that this is all a ruse. A mirage.
It is being carried by, “they.”
“They” are using the illusion, because America was stationary and stubborn.
“You can’t New World Order me!” Americans said, “…Because we know about you.”
Did the globalists go away and cry in their beer? Nope. They knew this would happen. It was expected. Butsome of the citizens heard a few radio shows that told them, “we’re gonna win.”
Hegel’s dialectic utilizes the “mirage.” And then steers the people through its house of mirrors with scary monsters. In America’s case, the monster is a short woman with a trucker’s voice named Hillary. Their task is simple. Globalism. But how do they get there?
Scare them with the Thesis – Hillary / the Enemy of Freedom.
And offset her with the Anti-thesis – Donald the Lion-Hearted / Champion of the People.
…Next stop – the Synthesis. Ashes with a rising phoenix.
It's right there in front of us. Do you see it folks?
“The Double Headed Eagle of Lagash” is the oldest Royal Crest in the World… No emblematic device of today can boast of such antiquity. Its origin has been traced to the ancient city of Lagash. It was in use a thousand years before the Exodus from Egypt and more than two thousand years before the building of “King Solomon’s Temple.”A part of this sounds familiar
“As time rolled on, it passed from the Sumerians to the men of Akkad, from the men of Akkad to the Hittites, from the denizens of Asia Minor to the Seljukian Sultans from whom it was brought by the Crusaders to the Emperors of the East and West, whose successors were the Hapsburgs and the Romanoffs.”
“In recent excavations, the city-emblem of Lagash was disclosed also as a lion headed eagle sinking his claws into the bodies of two lions standing back to back. This is evidently a variant of the other eagle symbol”.
“The city of Lagash is in Sumer in Southern Babylonia, between the Euphrates and the Tigris and near the modern Shatra in Iraq, Lagash had a calendar of twelve lunar months, a system of weights and measures, a banking and accounting system and was a center of art, literature, military and political power, five thousand years before Christ”.
“In 102 B.C. the Roman Consul Marius decreed that the Eagle be displayed as a symbol of Imperial Rome. Later, as a world power, Rome used the Double-Headed Eagle, one head facing the East the other facing the West, symbolizing the universality and unity of the Empire. The Emperors of the Holy Roman Empire continued its use and the symbol was adopted later in Germany during the halcyon days of conquest and imperial power”.
So far as is known, the Double-Headed Eagle was first used in Freemasonry in 1758 by a Masonic Body in Paris – the Emperors of the East and West. During a brief period the Masonic Emperors of the East and West controlled the advanced degrees then in use and became a precursor of the “Ancient Accepted Scottish Rite”.
The Latin caption under the Double-Headed Eagle – “Spes Mea in Deo Est” translated is “My Hope Is In God”.
“In recent excavations, the city-emblem of Lagash was disclosed also as a lion headed eagle sinking his claws into the bodies of two lions standing back to back. This is evidently a variant of the other eagle symbol”.https://i.pinimg.com/originals/6f/a6/cb/6fa6cb2757061c76d7aa6ea211e2868c.jpg
In 102 B.C. the Roman Consul Marius decreed that the Eagle be displayed as a symbol of Imperial Rome. Later, as a world power, Rome used the Double-Headed Eagle, one head facing the East the other facing the West, symbolizing the universality and unity of the Empire. The Emperors of the Holy Roman Empire continued its use and the symbol was adopted later in Germany during the halcyon days of conquest and imperial power”.So it represented the universality and unity of the Empire of Rome and was later adopted by Germany during their days of conquest and imperial power. For these Freemasons, it represents two emperors, one from the east and one from the west coming together to create one empire. Hmm.. I wonder if that has any significance to today's world.
So far as is known, the Double-Headed Eagle was first used in Freemasonry in 1758 by a Masonic Body in Paris – the Emperors of the East and West. During a brief period the Masonic Emperors of the East and West controlled the advanced degrees then in use and became a precursor of the “Ancient Accepted Scottish Rite”
The imperial bird with two heads simultaneously facing East and West has been Russia’s official coat of arms for centuries, with only a break during the Soviet era. The emblem, however, is far older than the country, with roots dating to ancient civilizations.http://www.deadlinenews.co.uk/2012/01/17/donald-trump-at-last-awarded-the-scottish-coat-of-arms/
An eagle on a country’s coat of arms is quite common – this bird is as popular a national symbol as the lion. “He is the king of birds; just like the lion is believed to rule all animals, and he is associated with the cult of the sun,” Georgy Vilinbakhov, head of Russia’s Heraldic Council, explains.
Title of article: Get Ready for the Phoenixhttps://medium.com/@torrmara/1988-crypto-prophesy-from-the-economist-e201ab28aa26
THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the last twentieth century.At the beginning of 1988 this appears an outlandish prediction. Proposals for eventual monetary union proliferated five and ten years ago, but they hardly envisaged the setbacks of 1987. The governments of the big economies tried to move an inch or two towards a more managed system of exchange rates – a logical preliminary, it might seem, to radical monetary reform. For lack of co-operation in their underlying economic policies they bungled it horribly, and provoked the rise in interest rates that brought on the stock market crash of October. These events have chastened exchange-rate reformers. The market crash taught them that the pretence of policy co-operation can be worse than nothing, and that until real co-operation is feasible (i.e., until governments surrender some economic sovereignty) further attempts to peg currencies will flounder
The new world economyThe biggest change in the world economy since the early 1970’s is that flows of money have replaced trade in goods as the force that drives exchange rates. as a result of the relentless integration of the world’s financial markets, differences in national economic policies can disturb interest rates (or expectations of future interest rates) only slightly, yet still call forth huge transfers of financial assets from one country to another. These transfers swamp the flow of trade revenues in their effect on the demand and supply for different currencies, and hence in their effect on exchange rates. As telecommunications technology continues to advance, these transactions will be cheaper and faster still. With unco-ordinated economic policies, currencies can get only more volatile.
In all these ways national economic boundaries are slowly dissolving. As the trend continues, the appeal of a currency union across at least the main industrial countries will seem irresistible to everybody except foreign-exchange traders and governments. In the phoenix zone, economic adjustment to shifts in relative prices would happen smoothly and automatically, rather as it does today between different regions within large economies (a brief on pages 74-75 explains how.) The absence of all currency risk would spur trade, investment and employment.
The phoenix zone would impose tight constraints on national governments. There would be no such thing, for instance, as a national monetary policy. The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF. The world inflation rate – and hence, within narrow margins, each national inflation rate- would be in its charge. Each country could use taxes and public spending to offset temporary falls in demand, but it would have to borrow rather than print money to finance its budget deficit. With no recourse to the inflation tax, governments and their creditors would be forced to judge their borrowing and lending plans more carefully than they do today. This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case. Even in a world of more-or-less floating exchange rates, individual governments have seen their policy independence checked by an unfriendly outside world.
As the next century approaches, the natural forces that are pushing the world towards economic integration will offer governments a broad choice. They can go with the flow, or they can build barricades. Preparing the way for the phoenix will mean fewer pretended agreements on policy and more real ones. It will mean allowing and then actively promoting the private-sector use of an international money alongside existing national monies. That would let people vote with their wallets for the eventual move to full currency union. The phoenix would probably start as a cocktail of national currencies, just as the Special Drawing Right is today. In time, though, its value against national currencies would cease to matter, because people would choose it for its convenience and the stability of its purchasing power.
The alternative – to preserve policymaking autonomy- would involve a new proliferation of truly draconian controls on trade and capital flows. This course offers governments a splendid time. They could manage exchange-rate movements, deploy monetary and fiscal policy without inhibition, and tackle the resulting bursts of inflation with prices and incomes polices. It is a growth-crippling prospect. Pencil in the phoenix for around 2018, and welcome it when it comes.
So it was a random Sunday: bed, eat, repeat until I went online and I saw a link by a new user called @limon. There was a small introduction to a YouTube video which at first glance didn’t look interesting, but what the hell? Lets read this.Notice the year on the coin and at the end of the article, 2018. "Pencil in the phoenix for around 2018, and welcome it when it comes". Trump and Russia both have a double headed Phoenix signifying the union of an Empire. This article talks about a one world currency called "Phoenix" coming in 2018. The number 10 upside down is 01. It's a bit on a coin
He talked about an article from The Economist, year 1988, coin, phoenix and then Zoin… wtf?
Anyways, I opened the link (don’t open links from strangers) and watched the video in Youtube, (it’s in Spanish)
@limon claims in the video (minute 5) that he actually found a not so well know cryptocurrency (yet) by doing some research on an article from 1988 and he is somehow convinced it’s going to be huge. Yes, @limon saw the writing and thought maybe I should check this and find out which is the coin of the future.
As crazy as it seems, finding a cryptocurrency by doing research on a 1988 magazine its quite incredible. Is it a coincidence or is it a prediction? Not even @limon knows, but there’s a few things that can blow up your mind here.
This is the article from 1988. It claims that there will be a currency (referred as “phoenix”) that will be used by everybody in several countries in 2018.
So yes, you all might say “the coin is called the Phoenix”. There’s actually a coin called Phoenixcoin but that didn’t seem to convince @limon once he checked it out in www.coinmarketcap.com (it sucked even for @limon who wanted to believe with all his heart)
But @limon didn’t give up, he thought what if its hidden? So he decided to take a closer look at the magazine cover.
He noticed that he could read the letters backward (um…interesting)
He got XIN3ONd NET by reading the cover letter backwards and he said well, XIN is Chinese, and found out in google translator that XIN meant NEW.
Then 3ONd he looked at it and thought this is Russian… and it was. That weird word that would not mean anything to someone meant something for @limon so he decided to google translate it.
Well yeah 3ONd is Russian and means ZOI, but wait is this a coin? @Limon decided to search “ZOI” in www.coinmarketcap.com.
WOW, Zoin existed. He ended up with the sentence NEW ZOI NET, in which Zoi was an actual currency.
He starting searching now all about Zoin (DYOR) and liked everything he saw. The team, the community and development its very much updated.
Got even more carried away when he saw Zoin’s logo:
And when he researched even deeper, he found out that ZOIN was left by its first developer and got taken over by its community from all over the world.
Yes, Zoin emerged from the ashes. What? wait. Zoin is also a Phoenix.
Anyways, @limon found all the signs of a prophecy from 1988.
He couldn’t wait so he joined Zoin’s community and shared his video.
By the way he bought some Zoin. After finding the last lost prophecy he had no plans on missing out.
Check all about Zoin in the following links.
You can reach out to the team on Discord, website address is www.zoinofficial.com and their twitter @zoinofficial
You better don’t miss it. Its a prophecy.
Thank you limon.
https://preview.redd.it/v5fimdm2hub21.png?width=1080&format=png&auto=webp&s=e51f42b12373770e918b84f41d778dd88a74c69asubmitted by dgcarlosleon to bitcore_btx [link] [comments]
Bitcore designed for Reliable Payment Solutions. Like, RT #BitcoreGame and tag 3 people in comments. 300 BTX to win
BITCORE Official Twitter
Web: Official | News | Coin Specs | Roadmap | White Paper | Ecosystem | Network Update | Community | FAQ | Blog | Team Wallets Mac QT | Windows QT | Win + Block | Electrum Portable | Linux QT | TSBW Coinomi iOS | Android |Win | Mac | Linux ZelCore Mac | Win | Portable | Linux | iOSAndroid Jaxx Liberty iOS | Android | Chrome extension | Mac OSX | Win x64/x86 Trezor Web Ellipal Web Anchor Web Magnum Web Exchanges: Bit Z | Cryptopia | HitBTC | Exrates | Crypto Bridge | Coinexchange | Bitexlive | Bitibu | Trade Satoshi | PayCML| InstaSwap | CryptoChangeCrex24 | Bitsten | BarterDEX | EasyRabBit | InstaSwap | Ktrade | Nova | SimpleSwap Services: Livingroom of Satoshi | Kamoney | Cryptonaut | EasyRabBit.net | LuckyGames.io | Games4coins.com | PayByte | BitBase | AtomicPay | Cryptocrown Block Explorers: InsightAPI | Crypto ID | Liivenet Mining Pools: Bitcorepool | Yiimp | Suprnova | Chainworks | Umine | Ant Mine Pool | Coin Miners | BSOD | BTXpool | Minersport | Omegapool | PoolGPU Market Info: CoinMarketCap | World Coin Index | Cryptocompare Source: Github | DgCarlosLeon Devs Limxtec
https://preview.redd.it/svrbgh5fcyg31.jpg?width=2000&format=pjpg&auto=webp&s=9d5b11523cdd8873d37becbef5726d68dc821460submitted by Rajladumor1 to omgfin [link] [comments]
As the appeal of cryptocurrency has grown, so has the opportunity for scammers to part naive investors from their money. 2019 has been no exception, with cryptocurrency and blockchain forensics company Ciphertrace dubbing it “the year of the exit scam.”
Exit scams are not a new phenomenon, with a 2018 report conducted by Statis Group revealing over 80% of initial coin offerings (ICOs) in that year to have been fraudulent. Here, Cointelegraph explains exit scams and how to spot them, as well as a look at some of the biggest scams that have been discovered by various researchers.
What are exit scams?The premise of cryptocurrency is simple, a new ICO launches, claiming to offer lucrative returns for investors. Investors can’t believe their luck and clamor to buy in. The business runs for some time on the back of the invested capital, but, sooner or later, disaster strikes and the company shuts down, often with no explanation.
After a while, it becomes obvious that the company is gone for good, along with the invested funds. The poisoned chalice of crypto’s decentralized nature often means that investors are left in the dark when trying to recoup or trace their pilfered funds.
How to spot an exit scamMany exit scams have tell-tale signs that investors should look out for. The financial content site Investopedia has a handy list of key characteristics.
First, exit scams often have inconsistent or misleading information about the team behind the project. When scouting potential investment opportunities, investors should scour for information on key members of any ICO.
It’s important to remember that online credibility can be faked by purchasing likes, profiles and followers on social media. Celebrity endorsements with verified accounts could also ring alarm bells for investors. A fake Twitter account purporting to be Elon Musk, with a supposedly verified twitter account, raised over $155,000 as part of a 2018 Bitcoin scam.
Investors should verify the credentials of backers, team leaders and promoters of cryptocurrency projects. Although individuals may seem to be legitimate at first glance, brand new social mediaprofiles and few followers or connections should raise eyebrows.
The most significant characteristic unifying exit scams in cryptocurrency is the promise of a huge return on investment (ROI) — chances are that it’s probably too good to be true. Investors should always look through even the smallest details of what they are required to invest and what the company purports to be able to give back to them.
ICOs usually come with a white paper, setting out the design details of the project along with a business plan and other information. Investors should pursue all available information for ICOs, as any vagueness in the white papers should signal a big red flag.
When investing in an ICO, it’s vital to get an understanding of the business model. Investopdia writes that anything powered by concept alone should be a warning to anyone tempted to buy in. Although cryptocurrency projects can and do launch off the back of technological advances, investors should be wary of projects looking to gather millions of dollars before taking a sober look at the project’s ability to return the investment from the published information.
Heavy promotion of an upcoming ICO can also be a sign of an exit scam. Past scams have employed bloggers to promote via numerous forums. Ads both online and in print media could also be suspicious.
$2.9 billion PlusToken scam could be largest exit scam everA 2019 report shared with Cointelegraph by the cryptocurrency and blockchain forensics company Ciphertrace dubbed 2019 the year of the exit scam and highlighted the billions of dollars stolen in multiple scams this year alone.
The report shines a light on what, if confirmed, could be the biggest crypto scam ever, with an estimated loss of around $2.9 billion after Chinese police uncovered an alleged Ponzi schemeinvolving the South Korean wallet provider and exchange PlusToken. Although more is being uncovered about PlusToken, mystery still surrounds the key events.
Ciphertrace reports that the platform has enshrouded several Chinese nationals, the government of Vanuatu, the Chinese police and the company’s co-founders — a South Korean man operating under the alias of “Kim Jung Un” and a Russian known only as “Leo.” The alleged PlusToken scam centers around an app with which the wallet provider claimed investors could invest in PlusToken (PLUS).
According to the report, the firm claimed that the token, based on the Ethereum blockchain, was developed by a major technology company. PlusToken is also said to have falsely stated that it could deliver wallet holders an ROI of between 8% and 16% per month, with a minimum deposit of $500 in crypto assets.
Ciphertrace also reported that no verifiable source of revenue existed other than the proceeds from new membership. Those were onboarded per the traditional method of a Ponzi scheme, which require a constant stream of new investment in order to support its semblance of growth. Investors were incentivized to recommend new users with an invitation, which was the only way to join.
Although this was enough for some members to dismiss the legitimacy of the project outright, Leo, the company’s co-founder, published a press release that claimed he had met with Prince Charles, the future head of the English royal family, providing photos as proof. Ciphertrust reported that it had contacted the Prince Charles Foundation, which confirmed that Leo had indeed attended the event, but would not provide other information about the individual due to European Union General Data Protection Regulation, or GDPR.
PlusToken’s fate was seemingly sealed on June 28, after members of the Chinese police touched down in Vanuatu, detained six people involved with the project and extradited them back to mainland China. Ciphertrace reported that the so-called “PlusToken Six” were either Vanuatu citizens or applying for citizenship at the time of their arrest.
Soon after, PlusToken members found that they were unable to withdraw funds from their accounts. Customers were informed that withdrawals via the app were frozen due to “technical difficulties.” By June 20, the PlusToken app had ceased operations due to purported system maintenance.
For investors, there seems to be no secure lead on the final resting place of the allegedly billions of dollars of stolen funds. The Chinese government has yet to comment. A July 12 post from PlusToken stated that the six Chinese individuals were simply service users and not actually involved with the running of the company itself, stating that users should ignore the rumors and not try to log in until they receive confirmation that the servers are back online.
PincoinOn April 9, 2018, two ICOs — iFan and Pincoin — operating under the umbrella of company Modern Tech based in Vietnam, went silent after reports outed them as scams that had scalped 32,000 investors out of an alleged $660 million in tokens, according to Tuoi Tre News.
Victims claim that the damages amount to roughly 15 trillion Vietnamese dong ($660 million) in token sales. Angered investors held a demonstration outside Modern Tech’s Ho Chi Minh City headquarters on April 8.
One of the initial characteristics that could have alarmed investors was the fact that Pincoin offered service users bonuses for successfully bringing other people on board. Pincoin did initially pay out cash until January 2018, when the company switched to iFan tokens, TechCrunch reported.
The owner of Modern Tech’s office building said that the company left its offices in March and that no one knew their current whereabouts. The firm left behind only an incomplete website that is now inactive. Modern Tech initially tried to pass itself off as a mere representative of both coins in Vietnam, prior to media reports confirming that seven of its Vietnamese executives were in fact behind the projects.
TechCrunch reported that the ambiguous mission statement from the then-functional site is typical of the vague and jargon-filled copy used by exit scammers:
“The PIN Project is about building an online collaborative consumption platform for global community, base on principles of Sharing Economy, Blockchain Technology, and Crypto Currency”Financial scam directory Behindmlm released a report in February 2018 that found its buy-in method was typical of an ROI Ponzi scheme. Pincoin’s website is currently down, though iFan’s is still online.
QuadrigaCX — regulators catch onThe death of 30-year old Gerald Cotten shook the crypto world — not only because Cotten was the co-founder and CEO of Canada’s largest cryptocurrency exchange, QuadrigaCX, but also because his control of the passwords and keys to accounts rendered all the assets on the exchange forever inaccessible after his death. Cotten took over $195 million of stolen cryptocurrency with him to the grave.
Related: QuadrigaCX Users Lose $190M as Speculations Over Cotten’s Death Swirl
Commenting on the May 9 Ernst & Young report, Ciphertrace said Cotten had played fast and loose with customer funds for many years in order to support a lavish lifestyle for both himself and his wife. Cotten allegedly exercised complete control over the exchange and used his position to perform “unsupported deposits” — i.e., fabricated transactions not represented by either fiat or cryptocurrency.
Cotten also used significant volumes of customers’ cryptocurrency via transfers from the platform into other exchanges he controlled. As per the EY report, Cotten shifted significant amounts of fiat and cryptocurrency between alias accounts, although less than 1% of these transfers was supported by documentation. Ciphertrace notes that as the admin, Cotten was in a perfect position to hide his fraudulent activities.
In a pattern that may now seem familiar, Cotten used customer funds to pay for QuadrigaCX operating costs after the company suffered liquidity issues due to his reported fraudulent use of user deposits. As QuadrigaCX began to struggle to stay afloat, EY reported that Cotten gambled customer funds in off-platform margin accounts to meet margin calls.
The report also states that Cotten traded unsupported deposits for legitimate funds thereby generating artificial trading markets, abused his position to override Know Your Customer requirements and hoarded all passwords:
“The Monitor understands passwords were held by a single individual, Mr. Cotten and it appears that Quadriga failed to ensure adequate safeguard procedures were in place to transfer passwords and other critical operating data to other Quadriga representatives should a critical event materialize (such as the death of key management personnel).”As of April 12, EY estimated that Quadriga held around $20.8 million in assets and around $160 million in liabilities. The debts and assets are spread over three subsidiary companies, 0984750 B.C. LTD. (the “Quadriga Estate”), Quadriga Fintech Solutions and Whiteside Capital Corporation. On July 31, the Supreme Court of Nova Scotia approved over $1.6 million in fees for parties seeking remuneration from the exchange, according to court documents.PDF) seen by Cointelegraph.
CFTC action launched after $147 million BTC schemeOn June 18, 2019, the United States Commodity Futures Trading Commission (CFTC) initiated a civil enforcement action against now-defunct Control-Finance Limited for a scheme involving $147 million worth in Bitcoin.
It is alleged that Control-Finance Ltd. defrauded over 1,000 investors by laundering around 22,858 Bitcoin. In mid-September 2017, its website was abruptly taken offline, payments to clients were suspended and advertising content from social media accounts was deleted.
The firm initially said that it would reimburse customers by late 2017. However, the company allegedly began transferring laundered Bitcoin by using the crypto wallet service CoinPayments. According to Ciphertrace’s Q2 2019 Anti-Money Laundering (AML) report, the CFTC complaint charges the company and its founder Benjamin Reynolds with:
“Exploiting public enthusiasm for crypto assets by fraudulently obtaining and misappropriating at least 22,858.22 Bitcoin from more than 1,000 customers through a classic high-yield investment (HYIP) Ponzi scheme called the Control-Finance Affiliate Program.”Per the CFTC, the company claimed that investors who buy Bitcoin through the firm would be guaranteed daily profits thanks to their team of expert cryptocurrency traders. The complaint also stated that the firm falsely claimed market volatility would ensure funds invested through Control-Finance would result in profit.
The CFTC also alleged that Control-Finance misleadingly promised that it could earn customers a 1.5% ROI daily and 45% monthly. Control-Finance is also reported to have sent partial amounts of new clients’ BTC deposits to other customers, which were disguised as profit from trading, a tactic typical of Ponzi schemes. The legal action seeking civil monetary penalties and permanent trading bans continues.
Co-owner of Bitmarket found shot dead after alleged exit scamOn July 8, the Poland-based exchange Bitmarket shut down, citing liquidity issues. According to Ciphertrace’s Q2 2019 AML report, the shutdown cost users around 2,300 Bitcoin, approximately $23 million. Users attempting to log on to the site were met with the following message:
“We regret to inform you that due to the loss of liquidity, since 08/07/2019, Bitmarket.pl/net was forced to cease its operations. We will inform you about further steps.”Ciphertrace reports that Bitmarket had a history of partners pulling out. In 2015, the firm lost payment processors CashBill and BlueMedia after the companies' banks requested they end their working relationship with Bitmarket. PKO Bank Polski, Bitmarket’s own bank, also terminated its relationship with the firm only six months after Bank BPH had done so earlier in 2015.
Bitmarket’s two founders, Marcin Aszkiełowicz and Tobiasz Niemiro, have contradicting accounts about the misplaced user funds. Aszkiełowicz claimed that the exchange had been hacked for 600 BTC in 2015, an incident from which the company was unable to recover.
Niemiro, however, claimed that he was not responsible for activities on the exchange. Niemiro also purported to have been told that the company was purchased with a deficit of 600 BTC, which he allegedly repaid with his own money. Niemiro said he could not confirm that his partners had indeed used the money to purchase the 600 BTC.
Two weeks after the interview, Niemiro was found dead in a forest near his home with a gunshot wound to the head, which the police deemed to be self-inflicted. The District Attorney’s Office stated that it is not looking into the involvement of third parties in Niemiro’s death, but are still actively investigating the misappropriation of funds.
What Waltonchain has done is taken the RFID technology to the next level by combining it with blockchain technology.. (See below)
- RFID chips can store much more information than bar codes.
- RFID chips are a read/write technology, so more information can be added to them as needed.
- RFID chips don’t require line-of-sight proximity (i.e., the information they store can be read even when products are still encased in boxes or crates).
- RFID chips are more robust (i.e., not subject to problems caused by tearing, creasing, or alteration) than bar coding.
- RFID chips can enable the tracking of individual pieces of merchandise.
Technical advantages of Waltonchain RFID tags.
- A dissymmetric encryption and decryption module is integrated into the tag chip of this project, bringing out safer tag communication.
- A dedicated storage space is integrated into the tag chip of this project for the storage of hash value of tag status and key information, which makes the tag content truly tamper-resistant;
- The tag chip of this project adopts the low voltage and low power consumption design, and applies advanced technology; though with an increased size of design, its power consumption is lower than that of traditional design;
- The anti-collision logic is added to the design scheme of the tag chip of this project. As a result, the collision probability is lower, and the probability of skipping - reading is significantly reduced.
Example of RFID in the real world
- High security;
- It is possible to truly trace back to its source;
- It is possible to achieve the anti-counterfeiting goal;
- Realize the decentralization with less demanding requirements for credence;
- Reduce labor costs.
Rather than simply identifying an item as a box of Cheerios (as bar codes do), an RFID chip can uniquely identify a particular box of Cheerios and enable it to be tracked all the way through the sales chain, from the warehouse to a consumer’s shopping cart. This level of uniqueness in tracking can, for example, aid in the removal of expired merchandise from store shelves or assist in locating items designated as part of a product recall. - SnopesWaltonchain's 4-phase development plan.
Walton team has formulated a 4-phase development plan, starting from infrastructure platform establishment to gradually incorporating retail, logistics and product manufacturing, and to finally achieving the full coverage of business ecosystem.Basically Walton works with retail, logistics, and product manufacturing to improve efficiency on all fronts. The entire process from manufacturing all the way to delivery can be assisted and improved with Waltonchain. Waltonchain achieves this by developing state of the art tamper-resistant RFID (Radio Frequency Identification) chips with storage and encryption capabilities. Waltonchains RFID chips can be applied to any tangible item allowing traceability and improved security throughout its journey.
The team has developed the clothing system integration scheme based on RFID. The system has been implemented in Tries, SMEN and Kaltendin. The condition of widely application and promotion has been met. The team starts to research and develop the RFID beacon chip with proprietary intellectual property rights.Phase 2
The RFID chips will be mass-produced and used in clothing, retail and logistics. This includes store pickup, pricing, order placing, packing and storage, sorting and distribution, store management, dispatching, customer signature, customer assessment and feedback.Phase 3
Manufacturers will achieve traceable intelligent packaging. The entire processes will be covered, including material purchasing, production, assembly operation, packaging and inventory management. The quality of the materials can be verified and tracked to the source easily. Counterfeit goods can be eliminated to ensure customer interests.Phase 4
In the future, all assets can be registered in Waltonchain and problems in asset ownership and traceability will be resolved.
How much money has gone into R&D so far? Will we see pictures of the hardware anytime soon?
So far between Silicon, Dr. Kim's Lab, and Waltonchain China and Waltonchain Korea, we have approximately spent $8million dollars in R&D alone. Walton chain RFID system prototype has been fabricated and the photos will be shown next month.
Does the Walton team currently hold, or have plans to file for, any patents that directly related to the RFID tag IC it has plans to produce?
Walton team has written and submitted at least four RFID-related patents. our senior advisor Dr. Kim owns 10s of patents, our affiliate Silicon owns many patents as well. (As you can see form CEO Mo Bing’s introduction video). All of the above patents should be and will be readily available for our use to product Waltonchain’s IP advantages over our potential competitors.
If at some point in the future other companies want to use RFID chips using technology created by WaltonChain, will they pay royalties to WaltonChain for technology patented by WaltonChain members?
What would be an example or scenario, of a RFID chip applying to the average person daily life? Maybe even if they are not aware of their tech surroundings
Many, e.g. supermarket merchandise inventory, RFID anti-theft system of clothing store and so on. You can pretty much think that we would almost work in any scenario with tangible products. But our focus is firstly to break through the clothing industry right now. Think about Walmart or Target and Costco, and then think about their suppliers, the businesses that supply to these large retailers. They can all be our clients.
Have you tested your RFID tech with any company outside of the clothing industry?
Yes, we also test in retail stores and warehouses.
Why choose the application of garment industry as the breakthrough point in Phase 1.0 of this project?
*The RFID tag has achieved the management of item level in the application of garment industry. Hence, the number of usage is enormous. Large amounts of experimental data can be obtained easily in the development and early application of the chip, as a result of which the chip and system technologies will mature quickly ;
*Many core members of the team have years of industry experience in the field of garment, and they are also familiar with the garment industry, the application of RFID intelligent system, and the promotion of software informationization products and other areas. With abundant resources of customer channels, the upfront cost of customer development is low. Therefore, it is possible to enter the market rapidly and to build up customer base in early days.
Does WaltonChain has its own blockchain?
Waltonchain is a self-developed public blockchain, and the wallet is expected to be online at the end of October. For now, WTC is an ERC20 token but when the Genesis block has been mined the token based on Ethereum will be replaced by the actual Walton Coin with the exchange rate of 1:1.
How much testing has been done in real companies who have opted for integration of WTC to see if it will be long term beneficial?
Up to now, many companies such as Tries, Joeone, SMEN in the apparel industry, Kehua, Lipson plastic in the manufacturing industry and Xiangyu group in the warehouse industry have applied for our WTC & RFID integration system. What is impressive is that all of them have benefited a lot by integrating our system! Compared to before integration, their yield rate has increased by 1.2%, the stock turnover increased by 5.8%, the distribution efficiency has improved by almost 100%, and the inventory efficiency almost tripled in their stores.
For customer information please refer to list below:
With the government subsidizing the project, are you able to provide any other insight into the involvement of the government (including other countries)?
- Septwolves: http://www.septwolves.com
- JOEONE: http://www.jiumuwang.com or http://www.joeone.cn
- Tries: http://www.cntries.com
- SMEN: http://www.smenxm.com
- Kehua: http://www.kehua.com.cn
- Xiangyu group: http://www.xiangyu-group.com
- Lipson plastic: www.lipsoncorp.com
Quanzhou Silicon, the technology backup of WTC in China and a subsidiary of the Silicon Group, has been awarded the “second-class international qualification”, and has received project subsidies from the local government of Quanzhou City, Fujian province. Another subsidiary of the Silicon Group, Nanjing Silihua is also involved in the R&D of the parent chain of WTC. The block chain system developed by this company has received substantial recognition by the technology staff of the government. And it is currently applying for the science and technology award of the Nanjing government.
Apart from this, Xiameng IOT Technology Co.,Ltd, another subsidiary of the Silicon Group, has received a 5-million-yuan subsidy for the project “Smart Ocean of Fujian Province”. The subsidy will be used for the establishment of an IOT-RFID system and the development of the corresponding series of products, which will be a dramatic driving force to the development of Smart Ocean industry in China. So far, the IOT-RFID product has made its footprint across the provinces and cities of mainland China, as well as in Hong Kong, Macao, Taiwan, other southeastern Asian countries, North America and Europe . Its stability, sensitivity and reliability have been the model in the industry.
- Any child chain creation needs to expend Walton Coins (WTC). As the Walton ecosystem continues to grow, an increasing number of businesses will be joining the ecosystem, as a result of which they will expend a growing amount of WTC to create all kinds of child chains. Thus, the demands for WTC will rise correspondingly.
- WTC is the only token of the parent chain in the entire business ecosystem. Any cross-child-chain data transmission and asset exchange will expend WTC. Once the ecosystem has been in place, the demands from the businesses for WTC will keep expanding.
- The allocation mechanism of the transaction fees (such as A coins and B coins ) expended in the important officially-released child chains will be adjusted in an innovative manner, such as those in the transaction child chain or the sales child chain which will be used in the high-frequency circulation. Most of the transaction fees (say 90%) will be allocated to the wallets of child chain book-keeping nodes, while a small proportion (say 10%) will be exchanged to WTC and allocated to the wallets of parent chain book-keeping nodes.
- Smart hanger function: when the customer picks up the clothes on the smart hanger, the smart hanger automatically identifies the clothing label in the hands of the customer, the touch screen displays all the information of the clothes in a timely manner and inputs the data into the background server at the same time; the analyzing software automatically counts the data and generates statistical reports of each period for managers to view.
- Smart fitting room function: when the customer picks up the clothes and walks into the fitting room, the smart fitting room automatically identifies the clothing label in the hands of the customer, the touch screen displays all the information of the clothes in a timely manner and inputs the data into the background server at the same time; the analyzing software automatically counts the data and generates statistical reports of each period (houmonth) for managers to view and estimate the production plan and popular designs according to the fitting rate.
- Quick check-out function: using RFID can automatically identify the target information, the receiver can read multiple tags at once within its effective working range to achieve the simultaneous identification of multiple products, thus speeding up the check-out process and improve customer satisfaction.
- Quick Decisions: A customer can't decide which of 3 dresses she wants. To help her decision, she looks at the RFID data and the movement of the dress in the store. It's there that she notices dresses #1 and #2 are often taken to the fitting rooms, but from there, dress #1 outsells dress #2. Dress #3 on the other hand barely makes it to the fitting room at all. Now, she's able to refine her decision making.
The number and range of IoT applications that can be envisioned with RFID devices are simply tremendous. The inherent value of RFID lies in enabling “things” to report data in real time for faster, quicker, more interactive decisions both at the industrial level and — increasingly — at the consumer level.RFID Information:
Perhaps the best-known concept, sometimes called the “killer app” for IoT, is the interconnected, automated home, where people can interact with everyday devices in their homes. This vision of the future sees appliances such as refrigerators being aware of their ‘state’, and knowing when to order and replenish groceries; electronics such as lighting, music and TV automatically tuning to individual preferences, which can be managed by presence (proximity to RF-enabled device), by time or by sensory input; access solutions, whether logical ones for Wi-Fi user authorization, or hands-free operation of doors and windows... the possibilities are truly endless. - Smartrac Group
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